DINAR REVALUATION

Thursday, August 22, 2024

WALKINGSTICK INTEL: "Have you heard the three zeros will coexist for ten year?", 22 AUGUST

Walkingstick

[Aki Iraqi bank friend who runs a bank in Michigan]

Question: "Have you heard the three zeros will coexist for ten year?"

Yes, we have heard about it but we did not hear the number 10.

We heard that it would be over a long period of time.

Duel pricing in the market would be controlled easier.

Also, it would give the CBI longer time frame to collect the citizens 3 zero notes.

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Walkingstick

[Iraqi Bank friend Aki in Michigan]

The monetary reform is very solid. Things are looking good... What happened with the CBI governor, he's not going anywhere.

The government can't fire Alaq in the same way Maliki fired the governor of the CBI Dr. Shabibi.

Maliki had no authority, he had no right to fire Dr. Shabibi.

Dr. Shabibi went and worked with the US Treasury to make sure the monetary reform plan was completed...

Walkingstick

[Iraqi Bank friend Aki in Michigan]

Question presented to Aki - Concerning the statement that was made by a representative of the WTO

[about Iraq launching a fully convertible currency in October

AKI: I didn't hear anything about October...

WALKINGSTICK: I would call it scuttlebutt because the interpreter was telling me that he says he's not sure about that...but he knows there are rumors out there about when this is going to happen.

AKI: I did hear about the WTO guy. Maybe he's talking about a new currency that would be convertible prior to October but there is no mention at the banks about October being the date. If anything I have heard it is before that.

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NADER FROM MID EAST: Iraq Pushes to Revitalize it's Economy with Renovating it's Industrial S...

Announcing the completion rates of the entrances to the immersed tunnel in the port of Faw, 22 AUGUST

Farhan Al-Fartousi, Director General of the General Company for Iraqi Ports, made the announcement on Wednesday that the Grand Faw Port’s submerged tunnel entrances from the sides of Umm Qasr and Faw have reached advanced completion rates.

“The ongoing work at the entrances to the submerged tunnel project, one of the projects of the Grand Faw Port, has witnessed advanced achievements, whether in the entrances to the submerged tunnel or in furnishing the submerged parts under sea water,” Al-Fartousi said in a statement.

He went on to say that “the approaches towards the city of Umm Qasr witnessed the completion of the burial work of (9) pieces completely underground, while the completion rate in the (19) open pieces reached (85%)” and that “the submerged tunnel consists of two main entrances, one towards the city of Umm Qasr and the other towards the city of Al-Faw, and each of these two entrances consists of (28) pieces that form the tunnel approaches.”

He went on to say: The approaches to Al-Faw’s entrance also consist of 28 pieces, of which nine are being buried underground with a completion rate of ninety percent and the remaining nineteen open pieces have exceeded a completion rate of fifty percent.

He noted that “according to these figures, it can be said that the completion rate in the approaches to the entrance to the city of Umm Qasr reached (90%), while the completion rate in the approaches to the entrance to the city of Al-Faw exceeded (60%).” Additionally, he noted that “the pieces submerged under sea water in the submerged tunnel project, amounting to (10) pieces, are currently witnessing work ” Painting with insulating and seawater-resistant materials, in addition to implementing.

He emphasized, “The immersed tunnel project is one of Faw Port’s five main projects, and it represents the main nerve linking Grand Faw Port and the Iraqi development road.” Special efforts are being made to finish it, making it the first of its kind in the Middle East and the second tunnel in Asia after the Busan tunnel in South Korea because of its strategic importance.

DINAR REVALUATION UPDATE: SEEMS THAT WE ARE REALLY CLOSE TO OUR DESIRED RV!!!, 22 AUGUST

DINAR REVALUATION

ANALYSIS OF WHAT EDDIE TOLD TO FRANK26:

"Then Saleh talking about oil being sold in dinars instead of dollars."

Economist back on tv saying it’s time to drop the zeros."

---It sounds like there's a couple of interesting economic discussions happening in Iraq right now!

Saleh and Oil Sales in Dinars: Saleh's suggestion to sell oil in dinars instead of dollars could be aimed at strengthening the Iraqi dinar and reducing dependence on the US dollar. This move could potentially stabilize the local economy and improve national financial sovereignty. However, it would also require significant adjustments in international trade agreements and currency exchange systems.
Dropping Zeros from the Dinar : The economist's call to drop zeros from the dinar is a common monetary policy strategy known as "currency redenomination." This involves introducing a new unit of currency that is worth a thousand or more times the old unit. It's often done to simplify transactions and improve the currency’s image after periods of high inflation or economic instability. For Iraq, this could be a step towards stabilizing the currency and restoring confidence in its value.

Both of these measures reflect efforts to address economic challenges and enhance the stability of Iraq's financial system. The success of these strategies will depend on how they are implemented and their impact on the broader economy.

SEEMS THAT WE ARE REALLY CLOSE TO OUR DESIRED RV!!!

Stable Iraqi Dinar Exchange Rate Failure?

FRANK26 INTEL : "ITS TIME TO DROP THE ZEROS" BY EDDIE AND SAMMY , 22 AUGUST

Frank 26:

From Eddie and Sammy : Mr.Frank,Sudani did a new conference about a new energy project. Talking about many new cities.

This is coming as a result of a new exchange rate.Mr.Frank tv saying Iraq has imported 615 thousand cars from USA.

This tells me your economic reform is about to explode.

Eddie says they are big V-8 top of the line cars.

Then Saleh talking about oil being sold in dinars instead of dollars.

Economist back on tv saying it’s time to drop the zeros.

Sudani wants us to remember he’s giving us purchasing power.

Aug.25-26 is a religious pilgrimage,expecting 5-15 million making the trek.

Everyone is telling you,you will have purchasing power. That’s how you will afford these V8’s,homes, food, and clothing and protect yourselves.

The expert talked about purchasing power when they drop the zeros.

Also talking about lifting zeros ,and giving us new lower notes,and talking about the float and we understand it.

The tv saying 80% of the countries dinars are in mattresses in homes.

Frank said they’re not worried about the dinars we hold,we’re like a pimple on an elephants back.

The goal is to retrieve those as soon as they release the lower notes.

The files on the HCL and WTO are closed.

They only wait for the exchange rate.

They told us in coming days we would have all of this.

Frank asked Walkingstick what coming days mean.

He said,well Frank.

That means now!

Says they’ve used that term before but not surrounded by the info they’re giving citizens on a daily basis.

Very quickly…now..quickly!

They’ve educated them all year about adding purchasing power.

This time around with the treasury there,they’re paying very Close attention and they will add purchasing power for the citizens.

In coming days means now!

This is the media campaign, explaining to the citizens what they’re about to receive.

Frank said after this happened it will take the dollar about a year and a half to be strong again,so he will be buying silver,gold,and land.

This is the media campaign, doing exactly what they said!!!

DINAR REVALUATION UPDATE, 22 AUGUST

DINAR REVALUATION

ANALYSIS OF WHAT FIREFLY SAID:

FIREFLY: Saleh was talking about the floats and he was also talking to us about fixed rates. He's saying no decisions have been made. They talked about the pros and the cons of each one of these options. Then the CBI came out and said in the coming days we will make actions to lower the dollar exchange rate. https://dinarevaluation.blogspot.com/2024/08/latest-from-firelfy-22-august.html

---It sounds like Saleh was discussing the different options for managing the exchange rate of the dollar, comparing floats and fixed rates. He mentioned that no final decisions have been made yet and that the Central Bank of Iraq (CBI) is planning to take actions to lower the dollar exchange rate soon.

Here's a brief overview of the terms involved:

Floats: In a floating exchange rate system, the value of the currency is determined by the market forces of supply and demand relative to other currencies. It can fluctuate regularly based on economic conditions, geopolitical events, and other factors.
Fixed Rates: A fixed exchange rate system ties the currency's value to another major currency (like the US dollar) or a basket of currencies. The central bank intervenes in the foreign exchange market to maintain the currency’s value within a narrow band.

Pros and Cons:

Floats:
- Pros: Automatically adjusts to economic conditions; less need for central bank intervention.
- Cons: Can be volatile; subject to market speculation.
Fixed Rates:
- Pros: Provides stability and predictability in international prices; can help control inflation.
- Cons: Requires large reserves of foreign currency to maintain the peg; can lead to misalignment with market conditions.

The CBI’s statement about actions to lower the dollar exchange rate suggests they might be leaning towards adjusting or managing the rate to achieve a specific economic goal, such as controlling inflation or stabilizing the economy. Both objectives need to be achieved to revalue the Iraqi dinar according to Shabibi's plan.

The choice between a floating or fixed rate system will depend on their broader economic strategy and objectives.