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fnbplanet
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Posts posted by fnbplanet
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MZ: “Al Maliki’s coalition calls on the house of representatives to expel foreign forces from Iraq” This was a surprise to me. Maliki used to be the US stool pigeon …He has been blamed by many for the Dinar not revaluing years ago. Sunni forces from Iran are also pushing for this. It would be good for the US to leave…..It may force the revaluation.
SUNNI forces from Iran? Not believin' dat fer a minnit!
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just read that the basket of currencies with the Euro, the Chinese yuan, and the UAE durham will be used to value the Iraqi dinar in the way that competes with the US dollar. That is the quote.
A basket of currencies sounds really good, but......I think the initial starting point might be kind of important.
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from the article above:
"He added, “The inflation rate has declined from its peak by 7%t in January of this year & inflation is expected to stabilize during the coming months, thanks to the CBI adopting a more stringent monetary policy & the impact resulting from raising the exchange rate.
um.... i'm OK with that.
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Doesn't Iran possessing a boatload of IQD make anyone nervous? An evil empire will become even more dangerous when the IQD revalues.
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Does anyone ever wonder just how much IQD the Iranians are sitting on? I'm sure that if anybody in the CBI knows the DATE/RATE, that there's a spy from Iran who also knows. If WE know it's coming (soon), then Iran knows.
This isn't a TV cartoon. Just because they're evil, doesn't mean they're stupid.
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Jusssst my opinion, but with the customary delays that we've become accustomed to after all of these years, it seems that their accounting would be a awful lot easier to change the value of the currency at the year's half way point on July 1st. President's budget signing, finance committee check, gazette posting, "opening the budget - all offer opportunities to delay up to the end of the month, for timing's sake.
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I'm not so sure that in currency-speak, that strength equals price. To me, strength would indicate the solidity of what backs a currency (gold, for instance, instead of potatoes), not it's amount in relation to other currencies.
I use the word price, because value is a comparative term that leans to something being a good deal. Not so sure the USD is that great of a deal right now. Other thoughts on this welcomed.
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3 hours ago, ronscarpa said:
How could the news possibly get any better?
Someone could sneakily (word of the day) post pictures of the new small notes. THAT would be WAYYYYY better.
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BTW.....Can you imagine someone trying to walk into a car dealership in Iraq to buy in cash dinars? At 1310, they'd need a wheelbarrow or two!
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20 minutes ago, Officiallytook said:
Question any of you guys gonna cash out everything asap in fears of more turmoil? And currency reverting?
Gonna cash in just enough to cancel all debt (not much) and buy some gold and silver as a hedge against a U.S. currency devaluation.
I've recently been wondering if the USD might take a dive before or after the IQD rises. I'll cash enough to cover my rear and wait with the rest to see if it floats up like I think it will.
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With a long enough of a time frame for redemption, at $.10 I'd cash some to pay debt, and periodically buy some precious metals as it floats up as a safeguard to any U.S. devaluation and inflation.
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"Al-Askari no longer threatens the "dementia Biden" of the American president - as he used to describe him - or the "traitor" of the Iraqi prime minister who deals with Washington, which is the adjective that Al-Askari used to refer to Mustafa Al-Kazemi, the former prime minister. "
"Dimentia Biden" ? Wow.
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5 hours ago, keylime said:
I'm not excited one iota(whatever an iota is) with them RVing to 1300. Personally I think that is an insult and a slap in the face to the citizens who are suffering from their devalued currency and who at least had 1140 before. And they were protesting then about it. Now I did read this is just a temporary stop gap measure, so that can only mean they are just trying to get this under control but have plans to give the citizens real buying power which can only happen with a true RV that makes them at least on par with the dollar, and hopefully, more. Do that and you got me excited multiple iotas. (can you have more than one iota at a time?)
Indeed. Eventually, someone will wake up soon and realize that they're still screwed at 1300. Sort of like that scene in the play/movie where the orphan Olive says: "more gruel, please?" Iraqis will see rather quickly that this first bowl of gruel just isn't enough. Add the current inflation, and it won't take long.
But the GOI bought a little time with this tidbit.
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All IMO....
By dropping the IQD rate to 1300 (temporarily, we hope), they accomplish two huge things:
1. get the people to not overthrow the government soon. if they can slow down the protesting, it may buy them time to wrap up things that need to get done, like the budget, oil & gas, etc.
2. it puts the street money brokers in losing positions if they were buying their inventory at 1460 or more, hoping to sell at 1700. Putting at least some of them out of business helps to stop the bleeding for a while.
If all that has to happen from here is to "drop the three zeroes", I for one can live with a rate of $1.30 as an initial new rate.
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I agree with Hotcurl. The reduction of dollars flowing to Iraq and subsequently being smuggled to Iran and Syria is starting to take it's toll on their economies. The value of the toman is recently/coincidentally in the toilet as well. This should have been done YEARS ago.
On the bright side, the fact that it is being done now may very well foreshadow our much anticipated boosts to the value of the IQD.
Something is changing.
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So, anyone else view this as the 2023 budget's "huckleberry"?
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It would be a ding-dang shame if the lack of stolen dollars were to contribute to the unrest in Iran now, wouldn't it?
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The people will lynch every member of government if they don't reverse this move quickly. They won't have to wait until June to vote them out.
Politicians, by nature, frown on this. Therefore, I believe that this will be a short-lived adjustment to the value of the Dinar.
Something, that will be big enough to make the citizens forget this move, will happen VERY shortly - before the public can gather up the torches and pitchforks.
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It says "update" the dinar exchange rate. It doesn't say "increase" the rate. Not everyone on the planet is expecting a significant increase as we in dinarland are.
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Find out the area they hide at and turn it into an ashtray.
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Just got this notice from the IRS site. Has to do mostly with QBUs ( qualified business units). I don't speak legalese, maybe it's important, maybe not.
Just seems like something is going on with gains/losses from foreign currencies, and anytime that happens, it makes me anxious.
Anybody out there know if this affects us or not?
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FYI, 60 liters equals 15.85 liquid gallons.
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Go on. Poke the bear. Dare ya.
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Widespread major protests are to start October 1st. Could have something to do with tying the ISX into NASDAQ also.
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Friday Early Night Opinions @ 8:00 PM MDT - 4/12/2024
in Dinar Rumors
Posted
Executive Order 13668 of May 27, 2014, must continue in effect beyond May 22, 2023. Therefore, in accordance with section 202(d) of the National Emergencies Act (50 U.S.C. 1622(d)), I am continuing for 1 year the national emergency with respect to the stabilization of Iraq declared in Executive Order 13303.
I'm not understanding why everyone is saying that 13303 has expired.