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Posts posted by Fairways&Greens
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50 minutes ago, screwball said:
Yep and who’s in charge for this administration….it’s a biden administration and for this reason alone they will dump the USD
I hope you are right.
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1 hour ago, edbeach said:
For those of you who think our dinar will go up in value should read this article. I have my doubts this going happen for some time,Iraq is the ecomonic lifeline for Iran. There is a good change the US will be putting sanctions against 15 additional Iraq Banks soon, Plus I could see the US putting sanctions against Iraq which would blow apart any increase in the the dinar, Iraq has a lot of secret deals with Iran, from sending money to Iran by trucks to secret deals of selling oil for Iran, I still believe the governor of central Bank is crooked and working with Iran helping to get money for Iran. This article The real reason for the decline of the price of the Iraqi dinar is a great article explaining a lot. Again it might be a long time before any increase in value, JMHO
unfortunately, I believe your analysis is correct.
The US won’t pull the dollar from Iraq because of the trillions already wasted over there. Losing control in Iraq would be seen as a big loss for any administration…but don’t put it past Biden. Anything can happen over there because of corruption and incompetence on all sides.
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4 minutes ago, 6ly410 said:
The Government explains that the appreciation in the exchange rate is temporary as a result of changing the mechanism by which the window of selling foreign currency operates at the Central Bank
Like I said, test run. They are fixing the mechanism or testing to see if the process works.
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55 minutes ago, Hotcurl said:
this just confirms that the CBI doesn't need the budget, parliament or any pending new laws to change the "official" exchange rate.
The question I am asking myself = What is the point of doing this now ?
Great point, the CBI CAN change the rate as they see fit.
Another thought: Maybe this is a test run to work out kinks in the process and the new digital exchange format.
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38 minutes ago, ronscarpa said:
How many time have I told you Iraq will become a financial hub?
IDK Frank, how many times? 🙄😆
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Thanks Ron! A lot of buzz around every important indicator. Let it be soon!
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3 hours ago, 6ly410 said:
Continuous update. Dollar continues to fly in Iraqi markets
Taking in all the Dinar they can. Off the streets and from under mattresses. One of the effects of the current market over there. Maybe this is a positive…imagine how much they can suck in over 2 or 3 weeks.
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3 hours ago, 6ly410 said:
Sanad announces a lawsuit against the current government for sending 400 billion dinars to the region
Boooo!
Sanad, why are you the way you are? 😆
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Thanks 6ly410 for posting all these articles! Progress
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Great find 6ly410!
There is a whole lot of buzz right now in Iraq. Much news and announcements each week; but more importantly, Iraq and their government seem to be ACTING on some important things. And it does seem very urgent. Hopefully it all leads to big news very soon!
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14 hours ago, Theseus said:
You are not going to get back to a Sadam era rate anytime in this lifetime. Again, the rate Saddam had the rate at, even the speculators said the IQD wasn't worth but half of that. The $3+ dollar rate is a pipe dream (as in crack pipe dream) for an RV for the IQD. Not when the world speculated it wasn't worth but 1.65 USD per IQD.
And when they say "previous rate", they mean the rate before it was changed on Dec 19, 2020 which was 1186. Before that it was 1166.
During Saddam's era the IQD was not at a "normal rate" rather an "inflated rate" set by Saddam. A "normal rate" during Saddam's era would be around the 1.65 USD exchange rate. And people have shown and even the news articles that have been posted on here (including Shabibi) have said that Iraq could not sustain a $1.65 exchange rate. The very most Iraq could top out at would be no more than $1.81 USD per dinar and that is pushing it to the very extreme. It is why Shabibi initially said a 1.16 IQD to 1 USD exchange rate would be best. Which is roughly 86 cents USD per dinar. Right now it is roughly (if we removed the three zeros first) approximately 68 cents USD per dinar at the CBI exchange rate of 1460. The current market value exchange rate (given the three zeros removed) would still be only 67.8 cents USD per 1 IQD.
Sound analysis. Thank you.
I laugh every time someone predicts any rate above $1.50 per Dinar. And then some of these “gurus” tell us the rate will be $15 or something ridiculous like that. 😵💫
I’d be excited at .10 and at 1 to 1, I would be peeing my pants! 😅
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3 hours ago, utah rock said:
It’s going the wrong way ah!?
That’s what I thought initially; however, price fluctuations are temporary according to the articles.
Our hope is this is leading up to a change in the exchange rate at the first of the year.
At the very least, this is evidence the US Treasury, IMF, etc are showing strong support in ridding the banks of corruption and money laundering. Good stuff.
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1 minute ago, screwball said:
Now this comment is interesting A source reported on Wednesday that the sale and purchase of dollars in Iraqi local transactions had stopped.
now this means no more USD in country in transactions! Comments?
That would be something! It would require the dinar to be traded internationally. Open market! 🤞🏼
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I’m hoping this is a positive sign. Stopping the sale of the dollar locally could indicate a change in the exchange rate at the beginning of the year. Let’s hope it goes in significantly on the right direction. Not just back to previous rate of 1170 in 2020.
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7 hours ago, 6ly410 said:
price reached 151,000 Iraqi dinars per 100 US dollars
Heading in the wrong direction…we want that number to get smaller
7 hours ago, 6ly410 said:"dollar prices in the local markets will rise more with the implementation of this decision, which will be on the first of next month,"
Again, wrong direction.
7 hours ago, 6ly410 said:"these restrictions were put in place on the recommendation of the US Treasury."
Is the US trying to prop up the dollar? If the dinar goes down further in value, Iraqis are gonna be pissed and start rioting in the streets. May even see an appearance by Al Sadr—he wants purchasing power for the people and he wants the US out of Iraq.
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10 hours ago, Luigi1 said:
MntGoat:
ARTICLE: December! This is a very critical month for us investors in the IQD for if we are going to see any action by the CBI to reinstate the dinar anytime in January 2023. We must begin to hear news from them over the change out of the paper currency in circulation to the lower denominations to accommodate the new rate which they call the “project to delete the zeros”, which we all hope will be finally out of the program rate & to a much higher once on FOREX. Yes, a rate reflecting the true VALUE of the IQD, a rate we are all looking for.
It is my understanding that both the project to delete the zeros and a reinstatement could happen simultaneously. Otherwise, they would tip off investors before an RI/RV.
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3 hours ago, ronscarpa said:
The monthly revenue of the IQD is more than twice that of the economy of Kuwaiti KWD, their neighbor yet Kuwaiti dinar is KWD 1 equaling US$3.26 (up 26% today) and the Iraqi dinar IQD equaling only 1/6 of a $US0.01.
Mtn Goat brings up an important fact here. There are other ME countries that are doing very well. Take Qatar for example; have you seen the scenes during the World Cup Soccer Event? Talk about a rich country! The Qatari Rial = .27 US Dollar.
If Iraq could RV at anything close to that, we’d all be wetting ourselves.
Point is the IQD cannot be suppressed forever and Iraq cannot be isolated from the international community forever either. At some point there will be a change.
2 hours ago, markb57 said:as long as they can use the dollar for all out of country purchases, they have no need for rv. it's really that simple. Iraq shouldn't be allowed to have a non-international currency.
Also, shout out to markb57 for this analysis. Totally agree.
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If Article 140 indeed is implemented, that is great news!
I too worry about the corruption and theft of trillions of Dinar. I think it is a big reason we haven’t seen an RV/RI yet; however, they have been hunting down the big fish for a while behind the scenes—I would imagine they have recovered more than they let on. We’ll see.
Go HCL! GO RV!!
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1 hour ago, ametad said:
Sounds just like you defined where I’m living in The United States of America. It’s uncanny, ironic and makes me laugh out of . . . well, the parallels to the local government are ridiculous. Unfortunate.
We’ll said! Our government too has waste and inefficiency (understatement). Our private sector was raped and pillaged during COVID while the big businesses remained open. Our currency is worth less than we realize. Very unfortunate indeed!
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22 minutes ago, RJG said:
the oil sector occupies only 1% of the labor force in Iraq. The public sector is the largest official place of employment, accounting for 37.9 percent of the country’s workforce. As for the private sector, it is still a poor, informal sector that is stunted from growth. The report confirms that the legacy of conflicts, political instability, and poor management of state institutions has increased the decline in investment in this sector and hampered its growth
Iraq’s problem is simple. The private sector can’t get traction.
1. The people not in government are poor and poorly educated in professions and trades. They lack experience, capital and incentive to participate in building the private sector.
2. The government doesn’t trust the people with capital to start and run businesses. So the government tries to “run” the private sector.
3. Corruption and inefficiency kill any progress and the private sector never has a chance.
Iraq needs:1. Education
2. Currency with real value
3. Application of free market economic principles.
Maybe an RV/RI could stimulate the private sector enough to move their economy forward. 🤷🏻♂️
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7 hours ago, jg1 said:
Let’s see who pops first, me or the Dinar.
💯 chance of all of us popping first a week from today. 🦃
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14 minutes ago, 6ly410 said:
we never ever seen it like this... --> HCL is cooking IMO
Let’s hope! I’m ready for this thing to pop.
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Hope they will actually get an agreement signed. All this talk is good, but we’ve seen this before and nothing results.
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Step 1: End corruption and money smuggling.
Step 2: Stimulate the private sector and economy.
Step 3: Open to international trade, including currency trading.
the new PM is setting a course.
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Wedesday Late Night Opinions 11:50 PM CST - 1/04/2022
in Dinar Rumors
Posted
MarkZ “drag out” 🤣
I’ve waited 15 years, a week is not gonna phase me or anyone else on this forum. What a 🤡.
It’s not imminent people. Not gonna happen this weekend or by the 9th or the 12th. Don’t follow these crazy clowns.
Thanks for posting Ron as always!