Dinar Report

MarkZ [via PDK] Question: Any news about our NDA’s. MarkZ: I am still hearing we will not have an NDA unless you have enormous amounts of Zim for projects….  I keep being told that. Hope it is accurate. Busy in Iraq over the weekend…We are hoping for a wild ride this week.  ______________________________________________________ Mountain Goat Article: ‘IRAQ’S ACCESSION TO INTERNATIONAL FINANCIAL INSTITUTIONS ENHANCES ECONOMIC DEVELOPMENT OPPORTUNITIES’ Quotes: ‘…The real benefit is in giving Iraq an international standing and a good reputation from an economic perspective.’; ‘The development road will be a gateway for the Asian Development Bank to enter Iraq with projects…contributing to strengthening the economy within the international environment and building strong international relations in the future.’  ______________________________________________________ Frank26 (KTFA) Community comment: ‘It’s simple. They change their rate and play fair or face tariffs and sanctions.  The end.’ Frank: Yeah that’s it. And if Sudani doesn’t want to do what he’s supposed to do, trust me, Trump has already shut down the auctions.  Trump has already removed the dollar. Trump has already fined them…I don’t know if he’s put sanctions.  I think he did…I am p****d at the pace of this reinstatement but I know what Trump is doing.  [Iraq boots-on-the-ground report] FIREFLY: Sammy was just here talking about how back when Shabibi was governor of the CBI he said when the inflation was around 2% and the note count was down and when the parallel market is close to 2% that was the excellent time for the rate change to happen. FRANK: I remember that well. FIREFLY: Inflation is at 1.5%. That’s under 2% and we have a ton of folks now on the cards and the electronic system.  We  have less notes out there.  And the parallel market is around 4% to 5%…maybe within 3 weeks that gap will be at 2%. FRANK:  I believe we are either at 2% or very close to it…Everything is in perfect condition for the new exchange rate.  FIREFLY: Sammy says that picture [of Asraflak billboards around Baghdad] is talking  about money service and the exchange opportunities that we’ll be having. FRANK: They’re teaching you during the Asraflak education how to exchange money.  Why.  Because…you’re about to exchange your 3 zero notes into lower notes…They’re teaching you about internal actions for you as Iraq citizens with your banks. I will be exchanging outside for a profit.  You will be exchanging inside for purchasing power…The timing is perfect…I’m very happy to see the pace we’re seeing now. ______________________________________________________ Clare (KTFA) Article: ‘Iraq’s economy between alleged stability and real risks’ Quote: ‘..the government program…continues on a path described by officials and analysts as ‘steady and balanced,’…the ban on dollar trading in the domestic market and the shift to trade financing through international banks, have curbed some phenomena, but they have not completely eradicated the black market. Prices continue to fluctuate, raising questions….Given this mixed picture of relative success and real threats, the question remains: Are we experiencing true stability or a potentially explosive economic bubble. Does Iraq have a clear vision for transitioning from ‘reactive management’ to comprehensive strategic planning.  Only time will tell.’ Article: ‘A government source denied via ‘Baghdad Today’ that Washington had rejected al-Sudani’s visit: No meeting was originally requested.’ Quote: ‘The talk about US President Donald Trump’s administration rejecting Al-Sudani’s visit is completely inaccurate, and no official request has been submitted from Iraq to visit Washington during the recent  period.’ Jeff I want to bring forward some old information forward…I think this is very important…Shabibi is the founding father of this whole investment.  He was put in place by Bush Jr…One of the things he said clear back in 2011…Iraq should…reduce inflation to no more than 2%.  Right now their inflation is at 1.5% so that’s in range. It says, reduce the note count.  They already have.  They’ve got most of the citizens into the banks to get them to transition to debit cards…Monitor the parallel rate.  That’s the big one… ‘Establish a close match between the parallel market rate and the CBI official rate of the dollar +/- 2%’.  Right now they are within 4% to 5%…It could hit within that 2% threshold…by the end of August.  ______________________________________________________ Pimpy There is a lot of discussion about changing the exchange rate of the Iraqi dinar.  I don’t talk about it a whole lot only because I don’t want people to think I’m blowing smoke up your a*s…I yanked this off one of the articles I recently read, quote:  ‘Iraqi government is currently engaged in the significant debate regarding the future of the IQD exchange rate, specifically whether to transition from a fixed exchange rate system to a free floating one...’  It’s being discussed.  The Iraqi dinar’s value is currently fixed by the Central Bank of Iraq, meaning its value is not determined by global Forex market forces.  ______________________________________________________ Walkingstick (KTFA) They are aware of the threat of the sanctions as are all investors…AMF, the IMF, the EMF and many others.  There is a lot of heat on the GOI. There’s a lot on the line.  Threats of pulling all American investors are in play.  All encompassing their continued use of the American dollar…not standing on their own.  Donald Trump is demanding they utilize their currency on a global scale…Stop all the restrictions and any use of the USD, and all smuggling to Iran.    Source : dinarchronicles

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