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Dretown39
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Posts posted by Dretown39
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1 hour ago, horsesoldier said:
This is EPIC ridiculousness !!!
They never tire of this broken record narrative. Bless us for our intentions because our actions in follow through are downright pathetic.
Survive to 2025. With Ramadan beginning 10 March thru 9 April: clocks ticking. They're not launching the IQD during that timeframe. So long 1st Quarter, better luck next year. Prove me wrong Iraq, please prove me wrong.
I was told Iraq wont add value during that time period because it violates their religion or laws. Kuwait revalue their currency during Ramadan..correct?
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2 minutes ago, JonnyV said:
I did see this on the WTO website tonight. Only means they completed the requirements. Looks like though you do NOT need a fully tradable currency because Vietnam has been a member for over a decade. Or, should I say toilet paper for currency.
Vietnam is a different story than Iraq. Vietnam can't just raise the value of their currency if China doesn't increase their rate. Vietnam also is not sanctioned. That was confirmed years ago.
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1 hour ago, 6ly410 said:
So back in January Iraq put out an article about restoring the mechanism of financing Iraq's foreign trade starting the process this month. They want to do this with different currencies. This sounds like to me they are starting to implement that process. If this is connected to that announcement then this is a good thing. I'm going to stay grounded..this month & next could be very interesting.
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23 minutes ago, BETTYBOOP said:
Iraq was looking forward to joining the WTO but they were not voted in.... am I understanding this correctly?!
There's no definitive answer yet..still waiting to find out
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30 minutes ago, Artitech said:
I will bet dollars to dimes , there will be no RV/RI 3-1-2024! Any takers? In fact there are just 4 weeks left in this 1st quarter! It’s looking like another dead year! I really thought and hoped that we would have seen a RV/RI The first week in January 2024! All of the news articles and new laws sure had my hopes up. Sadly it is sure looking bad for the home team! 1st April, IQD back on moth balls, champagne back in the wine cellar! The good news is we still have 4 weeks left for something to happen! JMHO! 🤠
Even though I'll remain appreciative about finding out about this IQD investment, this is out right pitiful we're still on this side of the coin. That's part of why I continue to live my life like I don't know about it. I still continue to get additional licenses/certifications on the job to make sure I'm putting myself in a position to make a good living.
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1 hour ago, Longtimelurker said:
I found this regarding MC14.
They also addressed the current stage of negotiations between Mercosur and the European Union. Mauro Vieira reaffirmed the South American bloc's disposition to advance with the conclusion the agreement. The MC14 is scheduled to take place in 2026, in Yaoundé, Cameroon. 🇨🇲
If Iraq doesn't become a member of wto now, we might be waiting until 2026?
That's if there's an Iraq left in 2026. They can't use the dollar since January 1st so I doubt the citizens stay quiet for another 2 years.
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1 hour ago, BETTYBOOP said:
They will not rv during Ramadan. It is against Muslim religious laws to deal with money or finances during ramadan
Ok got it👍
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52 minutes ago, Luigi1 said:
Not a dumb question...
Ramadan is celebrated in the entire Musim World, including Kuwait, in EU & US in many cities with large Muslim populations like Dearborn MI.
Almost every US city has feasts after Ramadan along with celebrations after Break Fast.
Check your local listings to find out where & when.
NOTE: The start & the end dates of Ramadan is slightly different amongst Shiites & Sunnies.
Ok thanks. I asked because many feel nothing happens during Ramadan. The Kuwaiti Dinar was reinstated on March 24 1991. Iraq can revalue during that period as well. Just my personal view.
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38 minutes ago, NWGUY said:
A lot to unpack on this. The first part is, I don't think the US has any control over what the Iraqi's do or don't do. They pretty much do whatever they want, and rightfully so. They are a sovereign nation, and have total control of their country, so again, I just don't think the US has any control over the revalue.
As far as the exchange being $3.22...I wish! I really don't think it will come out anywhere near there. I just want them to come out with a number, so that I can decide if I want out. Just give me a reason to turn in my dinar, and get the heck away from these clowns!
Thirdly, every year we hear that they need to do it before Ramadan or right after. They pretty much can do it whenever they want, even during Ramadan. Probably not going to happen during Ramadan though. That part is true I believe. I don't think they even consider doing anything during that time.
I think there are a lot of good things going on, that will make this investment work, but we need to be more patient, if that is possible. It will come to an end. Hopefully this year!
These are just my opinions, so please don't be hating on me!
Here's a dumb question. Does Kuwait celebrate Ramadan as well?
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It seems like this individual Goldilocks statements/analysis is decent. Anybody familiar with Goldilocks??
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1 hour ago, horsesoldier said:
Hopefully your assessment is spot on
I hope so too🙏 I'm not great at assessing what these slow pokes do😆
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The capital, Abu Dhabi,” pointing to “the completion of the requirements for Iraq’s accession to the organization, which is the completion of the files of trade in goods and trade in services within the timetable for joining the global multilateral trading system.”
He thanked "the Kingdom of Saudi Arabia for supporting the process of Iraq's accession to the international organization through the visit of its permanent ambassador to the organization, Saqr Al-Muqbel, and his chairmanship of the working group for Iraq's accession."
This sounds past tense to me too..like they've already joined the WTO
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3 hours ago, Artitech said:
Not in our lifetime! Sorry for the bad news. If you notice a whole new set of excuses coming from the Poo-Roos ! It’s comical the new set of bull$h!+ They are spewing! New lower notes don’t work on the old machines! They will be on channel 11 Frank not channel one according to Tv Guide! Better renew your subscription, boy! Basically 5 weeks left in the 1st quarter! We are not anywhere close to something happening with the IQD changing in value! I’m going to let it play out before I make any decisions on what I m going to do. Since I’m a gambling man! I’m betting we are in for yet another dead year, any takers? JMHO! 🤠
The thing is Iraq has nothing left that they need to do to pull the trigger to make this happen. This is why it's become frustrating/angering because most don't know why they haven't. Even those who understand Geopolitics don't know what it is they're waiting on!🤦♂️😡
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6 minutes ago, NWGUY said:
I still believe, that if they revalue, that rate will be good at any bank. Plus, what I understand is, that if we exchange with a bank, the dinars will go to the treasury, not sent back to Iraq. I could be wrong, but it makes more sense, than Iraq requiring us to go to one of their banks. At that point, we will need to find one of Frank's and Mark Z's redemption centers!
You're correct..to the Treasury
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I hope you all don't just rely on Adam to send a text when the RV happens. You can check the CBI site, Xe.com, & even go on YouTube etc.. have a backup place to be informed to stay informed.
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17 minutes ago, Laid Back said:
Why?
Because the Ministry of Finance argues that the new schedules have not been approved, and that these tables are mentioned in the budget law when there is a need.We wait.!
If this affects what we're waiting on this is sickening! These folks😡🤦♂️
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If anyone here on DV felt that you didn't have a lot of patience or high patience for waiting on something..WELL you proved yourself wrong! Congrats to all of us who needed to improve. We did it by getting involved with this investment! 😄👍🤦♂️
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4 hours ago, NWGUY said:
It sounds like you might be assuming they will lop...I don't feel that will happen, or they would have done it sooner. They have had the lower denom's for quite some time, and I bet they are sitting at the banks right now just waiting for this to happen. I personally feel that Iraq will revalue the rate, and then people can deposit the old notes, and get new ones at the time. The Iraqi's will get some of the money back that they lost after the war. I feel it will be a nice orderly transition. Our notes will be turned into the bank of our choice, and then the notes will be sent to our treasury. Easy enough. I could be wrong, but I always look at the glass half full!
I asked a friend who used to work at a bank how does an exchange work. He said you hand in your notes to be deposited & they send it off to the treasury to confirm they're legit. Before you leave you will receive a receipt of deposit. The money doesn't take long at all before it's deposited into your account. Simple👌
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3 hours ago, NWGUY said:
I don't believe this article. The USD will stay as the reserve currency. China is suffering from their own financial situation, and I don't think they are as strong as the USD. JMHO...
You're correct.China is no threat to the U.S. & so they don't care if they do business with Iraq.
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44 minutes ago, NWGUY said:
I think Pimpy has a good point. Not sure if it will matter in the end. Iraq could push the button anytime with or without corruption. Most of the government are corrupt at this point, so it is kind of like our system. They will do whatever they can to make it better for themselves unfortunately, as will Iraq. So, Iraq might as well get it over with, and both the government, and the citizens will get rich.
I don't take Pimpy with a grain of salt most of the time. The thing is Iraq has been having corrupt folks arrested since last year so they are tackling corruption. They won't ever be corruption free. With all the moves & support they are now getting with all these big alphabet entities I believe they can go anytime.
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42 minutes ago, BETTYBOOP said:
there is no way this will ever hit 10 bucks! 5 maybe but it will settle quockly
Iraq stated they would like to get to $1.13-1.17. Then eventually to their $3.22 rate.
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23 minutes ago, screwball said:
Possibly…maybe anticipating and increase in banks value due to capital increase and change in rate?
Ok gotcha 👌
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8 minutes ago, Longtimelurker said:
End of year/beginning of next..
Primarily because it reads as if the auctions won't end until end of year.
I know the powers that be can't be trusted..the only thing that can counter this is that Sudani said this year 2024 would be the year of achievement etc..and also no commercial transactions in USD January 1st so I don't see how they would wait that long. Just my 2 cents
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1 hour ago, Carrello said:
- Therefore, the deposits, which guarantee customers’ deposits at that bank, prevent it from performing its obligations towards them in accordance with the new amendment to its internal regulations. However, mistrust is still prevalent within the culture of citizens, with their reluctance to deal with banks, and we believe that the reason that led to this is the faltering banks, the methods of some banks in dealing with customers, complex routine procedures, and some banks’ circumvention of the Central Bank’s instructions, which outline mechanisms for transparent and proper dealing with citizens. Therefore, the new strategy to enhance confidence, as explained by the Governor on 1/11/2024, will depend on the following:
- First - Improving the level of banking services and products provided to customers.
- Second: The availability of the bank’s financial solvency and its ability to meet customers’ requests at the time of request without delay.
- Third: The bank’s control and direct supervision focus on measuring the level of service provided by banks to customers.
- Fourth - It provides external (international) confidence in the bank through its ability to adhere to international standards and obtain confidence from correspondent banks.
- Fifth - ""Increase the capital of banks"" on the new date of ""February 15, 2024"", which is the deadline specified for the increase.
Fifth - ""Increase the capital of banks"" on the new date of ""February 15, 2024"", which is the deadline specified for the increase.
Maybe someone can give me more clarity on this last one because I dont want to jump to unnecessary conclusions. Could this be possibly adding value to the Dinar?? @RJG @Carrello @Laid Back @screwball
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Al-Muslimawy: There is a policy to reduce the dollar exchange rate and control it in Iraqi markets
in Iraq & Dinar Related News
Posted
I have no clue. I researched Ramadan in 1991 & it appears Kuwait reinstated their currency during that time. I'm trying to get factual answers if whether or not it matters when Iraq revalue theirs this month.