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Dretown39
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Posts posted by Dretown39
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1 hour ago, BETTYBOOP said:
If we are waiting for what goldilocks is stating we could be here a wee while
Other than remodeling their monetary policy & banking reforms, there's really nothing else they need to do to support their currency in order to add value. They could've been flipped that "switch".
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1 hour ago, Mary B said:
Yes now that you mention May 9th, I remember that possibility Thanks Dretown39
You're welcome
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7 minutes ago, Mary B said:
I'd like to know the WTO'S time line for accepting Iraq, how close are we
That makes two of us. This date of May 9th has been put out for them to join. I'm taking that with a grain of salt. The info that has come seems to point to this year being the year to finally join.
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1 hour ago, Longtimelurker said:
Lookin better, actually see a 145,500 for the first time. If this needs to get to the actual rate before reinstatement, it might be 2025 before we get this blessing.. sure seems closer than that to me though
I know this is Iraq..with all the moves they've made in recent months up to now I'll would be a lil surprised if they went to '25. Plus that would be almost 2yrs Sudani telling the citizens to hold on to your dinars!
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20 minutes ago, BETTYBOOP said:
Iraq's Finance Committee reveals CBI's steps for currency sale window cancellation
2024-04-20 18:58FontShafaq News/ On Saturday, Iraq's Parliamentary Finance Committee revealed that the Central Bank of Iraq (CBI) has outlined a pre-cancellation plan for the currency sale window, citing the necessity of preparatory measures before implementing this decision.
According to Hussein Mouanes, a committee member, the CBI's decision to cancel the currency sale window for 2024 has been made, but the exact commencement date for this change has not been specified.
Mouanes clarified to Shafaq News Agency that the cancellation is conditional upon private banks' reliance on international bank correspondence and currency transfer methods.
This move follows the CBI's transfer of its "correspondent" role to several foreign banks, which has raised concerns among some observers due to its ambiguous implications.
Central Bank Governor Ali Mohsen Al-Alaq had previously announced in November 2023 the initiation of dollar supply within Iraq through accounts held by Iraqi banks overseas. However, Mouanes pointed out that this step necessitates an enhancement in the rating of Iraqi banks to enable their interaction with international counterparts, highlighting the current lack of foreign accreditation and correspondence for Iraqi banks.
The currency exchange system, which includes foreign currency auctions, meets the demand for foreign currency and supports various monetary policy objectives. However, criticisms of this system have surfaced due to its substantial daily costs and impact on the central bank's reserves.
Analysts have pointed out that overreliance on fixed exchange rates tied to oil revenues has led to the currency window being perceived as a function of oil rents, hindering economic transformation in Iraq. Despite its drawbacks, the currency sale window has played a role in stabilizing the Iraqi dinar exchange rate and bridging the gap between official and parallel markets
"According to Hussein Mouanes, a committee member, the CBI's decision to cancel the currency sale window for 2024 has been made, but the exact commencement date for this change has not been specified."
This tells me they won't wait until the end of the year to cancel the auctions. I could be wrong.🙏
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32 minutes ago, southbeach said:
Same old story. If you can afford to buy more do so. If you can’t don’t. I will say that exchange of America will sell with your credit card.
Also, Treasury Vault as well.
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1 hour ago, 6ly410 said:
Awesome! We know it's coming! It's the "when" that keeps u from either selling or tempting u to give up & sell, or tempting you buy more!💰 At this point don't sell!
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11 minutes ago, 6ly410 said:
Thanks but I wish I could read this in English..lol
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Woah! They've have met & are meeting with quite a few folks over here!💪🙏
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Word of caution! I know some will want to tell family/friends/neighbors "I told you so" after the RV. But DON'T risk putting yourself in potential danger. Exchange & move quietly! If u wanna help some..do it cautiously!
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31 minutes ago, 6ly410 said:
After they RV their currency me & my friends will head to Red Robin's like this!😆😆😆
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11 hours ago, cranman said:
Just looking for an end to this ride.
We have no control of the outcome.
I'm looking for an end too..one of the reasons is so I don't have to come across negative/left field comments about this investment. This silly ongoing discussion about LOPS & so on is ridiculous! I
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1 hour ago, horsesoldier said:
Certainly been many "coincidences" leading up to this moment. Perhaps this has always been part of a greater plan to keep the M.E. in constant chaos & uncertainty.
Preventing Iraq from going the distance is part of that plan. I agree 💯 with your suggestion.
You ain't lying..it seems they could've pulled it off back in the fall of '23 & then chaos popped off then!
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16 hours ago, NMP2017 said:
Yep, Iraq can do it whenever they damn well want to! I'm just praying they want to do it the sooner the better! 🙏
💯
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Well I guess I'll stand alone with the thinking of even if it doesn't happen at the end of this month, it can still happen anytime this year. I'm cool with that too!
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6 hours ago, BETTYBOOP said:
I don't read it as us having 3 months to exchange or that we would need to change out our 3 zero note for the new notes.
Read it again. they are talking about the process when they were getting rid of the saddam notes. They had 3 months to exchange them for the new currency (3 zero notes ) and or dollars. There is nothing about what would apply this time. IMHO.
Correct! Basically we will need to pay attention to the CBI. The notes are supposed to coexist with the new notes for some years. CBI will announce any notes that we hold when they will be phased out that's what we want to keep an eye on.
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8 minutes ago, screwball said:
These are the biggest issues we should be concerned with
And making sure Uncle Sam gets his cut! I don't want any smoke with the I.R.S!😆
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Just now, 6ly410 said:
I agree .. i believe the new rate is in the budget… they did not spend the budget yet
Yeah Breitling mentioned how connected it is especially in regards to the barrels of oil prices. For example, if the barrels of oil is based on $55 per barrel then they would need at a $.55 rate..$75per barrel then a rate of $.75 is needed & so on.
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1 minute ago, 6ly410 said:
they need to change rate before they join anyway ..
Yep so May or June...we're still at the cusp of this happening!
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12 minutes ago, 6ly410 said:
I agree there is some confusion on that… I found this just now https://www.ena.et/web/eng/w/eng_4268680
Addis Ababa, April 7/2024 (ENA) Ethiopia will hold a pivotal fifth-round World Trade Organization (WTO) meeting that would help the country in joining the organization, according to the Ministry of Trade and Regional Integration.
Minister of Trade and Regional Integration, Gebremeskel Chala confirmed to ENA that the meeting is anticipated to be held in the next month, May 2024.
Thanks!
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1 hour ago, flyguy2323 said:
God I hope so!! I could use the break.
Facts!!💯🙏
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2 hours ago, Artitech said:
they have done this HCL deal so manyt times before it all breaks down when it comes time to pay! they always renig! Hopefully they do it this time !
I hear ya. It has been confirmed on the WTO site their accession is happening this year. I do feel that very shortly this will be behind us in a good way!
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Samson Article: ”WTO - ACCESSIONS - MAY 9th, 2024 - Includes Iraq"
There's some confusion on this on whether or not this is a real statement or if the Accession on May 9th is a Holy Holiday instead. When you look at this on WTO website it wasn't clear. Hope this is true. @ronscarpa @6ly410
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25 minutes ago, Fimum said:
Ascension Day is a Christian holiday. It is the day Christ ascended into Heaven. Not raining on any parades, but it would appear that the WTO calendar lists it due to observing Christians will be absent from work on May 9th.
Yep I looked it up & you're correct!
Iraq completes the completion of the files for the initial offer of goods and services to join the World Trade Organization
in Iraq & Dinar Related News
Posted
🙏🤞🔥💰