DINAR IRAQ AND DONG VIETNAM UPDATE, 24 FEB

by **Ponee** Wed Feb 24, 2021 8:55 pm

Today’s newsletter is chock-full of some very good news.
No, I am not predicting the RV nor am I setting a date.

But what I am going to show you is that there is still much hope to see the reinstatement sooner than later.

Yes, we may not have to wait until 2022.

There is so much pressure to delete the zeros and raise the rate to be competitive to the US dollar and re-peg the dinar.

We all should know by now that the price of oil does affect the budget and the rate at which the dinar will revalue at.

Remember that there is going to be an in-country RV first as they proceed with the project to delete the zeros simultaneously and then later (much sooner than later) there is going to be a reinstatement of the dinar.

So, there are two different rates to consider.

We are outside Iraq and so the rate we consider is only at what rate the banks in our country will offer to exchange our dinar at.

This bank rate will most likely be 2 or 3 times the rate offered in Iraq.
We are really taking about Chapter 7 not article 7.

Currently the CBI is operating under article 14 and needs to move to and thus operate under article 8 of the IMF charter.

Article 8 in “normalcy” for monetary policy.

This is where most countries now reside in dealing with the IMF in monetary policy.

Many suggest that Iraq is already in article 8 and that may be the case too but we have no definite evidence of this as they have not yet told us.
Let’s just wait and see what happens once they get the 2021-2022 budget passed.

The CBI is finally taking in these large scale stashes of banknotes hidden under mattresses and buried in the backyard.

They need now to set standards of how they will exchange these not so good notes.

After all this was part of the point of devaluing the dinar in the first place.
They needed to get the people to realize that the US dollar is worth more than the dinar and so turn in the dinar for US dollars.

They needed to really shake them up.

The longer they hold on to the 1450 rate the more dinar stashes will come forward.

Did you read the hype about going to the 1600 rate?

Why did they say all this?

They did it intentionally to create a small panic and speculation in Iraq.

They used propaganda.

They needed to kick the people in the ass with speculation and get them to move
to turn in these dinars.

The people are so slow since they don’t trust the banks.

They also remember what happened in 2003 when their currency was literally became worthless overnight.
.....................................................................................................................................
TO THE EXECUTIVE BRANCH TO THE CENTRAL BANK OF IRAQ PROPOSING THE NEED TO AMEND THE EXCHANGE RATE OF THE IRAQI DINAR TOWARDS THE US DOLLAR

1 - The current devaluation of the national currency of the Iraqi dinar in favor of the US dollar and making the exchange rate of the dinar against the US dollar at 1450 is an unfair, ill-considered and urgent exchange rate, which is against the interest of the Iraqi people and economy, and that the first beneficiaries of that are regional and international countries and Arab and foreign companies And the ruling political elite ... as the wealth of the Iraqi people is bought cheaply according to the new exchange rate, and this means systematic plundering ((the law)) of the wealth of our Iraqi people, at a very low price, and he played in achieving this the failure of the Minister of Finance and the President of the Central Bank of Iraq according to Guidance from the International Monetary Fund and the World Bank.

2 - that the ruling authority today represents and applies an extremist and brutal neoliberal approach according to the directives of the International Monetary Fund and the World Bank, and that today's exchange rate of 1450 is in the interest of the ruling political elite, in the interest of the leaders of the parties, blocs and political currents influential today in governance and in cooperation and coordination with the administrative and bureaucratic bourgeoisie, the shadow economy forces, and the mafia-brokers ... so these people have acquired the wealth of the Iraqi people and have become millionaires and billionaires, in the American dollar and the Iraqi dinar, and with this stolen money, state institutions will be purchased from factories and large factories, oil and gas, agricultural land, fuel and electricity stations, and other state assets at a very low price and without oversight, and the well-known popular proverb applies

3 - A new EXCHANGE RATE IS REQUIRED FOR THE IRAQI DINAR TOWARDS THE US DOLLAR, WHICH IS ONE DINAR EQUALS ONE US DOLLAR. This requires deleting the three zeros, for example, the 1000 dinars become Iraqi dinars, and the million dinars (1,000,000) a thousand Iraqi dinars (1000), and according to the new exchange rate 1000 dinars equals 1000 US dollars, and this is in the interest of the Iraqi citizen and economy as a first stage and work in the future to return a new exchange rate. EACH DINAR EQUALS $ 3, AS IT WAS PREVIOUSLY.

4— That this can be achieved because Iraq is rich in its natural wealth of oil, gas, gold and phosphates ... .. In addition to that, there is a realistic possibility to develop agricultural and industrial production ..., that is, to create material production in order not to import and this will be in the interest of the national economy by not buying goods Food, medicine, and durable goods in hard currency, and then Iraq can export goods and services abroad and obtain hard currency, as well as work to retrieve the stolen money and return it to the Iraqi people, which range between $ 850-trillion.
5- The Iraqi people, public and professional organizations, national, progressive and left-wing personalities, and professors of Iraqi universities and institutes, must demand a new exchange rate adjustment in the interest of the national economy.
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Of course there are many objections to the 1450 devalued rate of the dinar.
They people don’t understand fully the reasons behind it.

This article is pushing for just what we want.

With oil expecting to climb way over $100 a barrel Iraq will be swimming in wealth and its an excellent time to do this.

But watch another crisis will arise to stop it.

Yes, the deep state under Obama and Biden does not want the RV.

So, is this proposal to change the exchange rate just to change it back to 1250 before the devaluation to 1450 or is it to 1:1 with the US dollar and give the Iraqi dinar the strength it really deserves?

I believe, based on other articles in today’s newsletter, that it is a study to go to 1:1 and then to eventually raise it back to 3:1 and even higher.

These articles are related as there is much pressure to finally get this done.

Remember I told you they always push for early January (new fiscal year) to RV and Reinstate and so they have not yet passed the new budget and we still have time to see this happen.