By Adam Montana
Gooooooood morning Dinarvets!
There is a lot to discuss, but time is short for me this morning. I'm going to do this update somewhat "shorthand".
WTI (oil) at $59 this morning = good.
The Kurds already agreed to a portion of the Budget, and they are continuing to make progress on their own responsibilities. Also good.
For those coming late to the party, Prime Minister Mahdi is stepping down and is to be replaced. Reading between the lines leads me to believe that a person is chosen, but they are going to wait until the "last possible day" to announce him. This makes sense to me - by releasing the name at the last minute, they will transition into the next phase with less issues. Related articles here.
I like it.
Things are going well. As long as Steve Harvey isn't chosen to announce the rate, we're going to be just fine!
That's it for now. Keep your heads up and don't let the holidays stress you out!
By Adam Montana
Good afternoon all!
Today's update will be really short, mostly because I want to see the next couple of articles that follow this one:
Also, because Cyber Monday kicked my butt there was a lot of fun had by myself and the members in the VIP section, and I also got most of my Christmas shopping done! The downside is it stole a day from me, and I'm a bit behind on work.
We are currently looking at some interesting Budget possibilities, pressure on pushing HCL forward, and more.
All good stuff!
Told you it was going to be short. GOOO RRRRVVVVV!!!!!
By Adam Montana
Happy Wednesday DinarVets!
I'll get to Iraqi Dinar in a minute - first, a couple headlines.
1. Michael Bloomberg officially entered the race for 2020 US President. We've all seen people blow a ton of money, and he can't/won't win (Vegas odds are +2500 currently), so I wonder if there's an ulterior motive here. Anyone have any thoughts on that?
2. Thanksgiving is tomorrow! I'm thankful for many things, one of which is the fact that I'm not travelling through Denver right now. 480+ flights were cancelled through Denver International yesterday... eek! 😬
3. One of these days, we're going to see the IQD revalue. I'm sure of that. What I am NOT sure about is if we will ever hit the lotto big... but you can't share if you don't play! Get in this week's lotto pool here.
Of course, you don't want to miss out on the Black Friday special going on right now! Use code "go2019rv" for 25% off on your VIP upgrade or extension. Click here to select the VIP package you want.
On to the Iraqi Dinar!
The "hot topics" on the subject seem to be budget, budget, and also... Budget. Included in the Budget is always some kind of reference to the rate of the Iraqi Dinar, and every year we have a variety of interpretations on how the Budget will work with a change in the value of the Dinar.
To keep things extremely simple, we can just summarize - the "new rate" does not need to be in the Budget. The Budget doesn't have to take a rate change into account. The rate mentioned in the Budget doesn't mean a thing!
The reason is very simple. When they change the rate, there are a few ways they can do it. In any of these cases, a one paragraph amendment to the budget will keep things correct.
For example, the exchange rate is currently 1190:1 (IQD:USD). If they move the exchange rate closer to $1, they might move the decimal 3 places to the left making 1.19 IQD = $1 USD. Adjusting the budget is mind blowingly simple - a one paragraph amendment reads as follows:
It doesn't have to be complicated! And that right there covers pretty much everything.
There was also a comment recently by one of the gurus about the new notes being introduced after the rate is changed. I don't normally comment on the comments of others, especially the "gurus", but I happen to agree with this one.
There is no reason to introduce new notes without a rate change. Introducing them before a rate change wouldn't make sense. And the fact that there are new notes for us to talk about is a huge indication that there is a rate change in progress or planned.
But wait, there's more! Want something else to smile about?
How about this... HCL incoming!!!
Check out that article, and a couple of the following posts in that thread... the writing is on the wall!
That's it for now, friends... this post was meant to be up much earlier today, so I'll wrap it up here.
By Adam Montana
Happy Wednesday, DinarVets!
Here we are, the week before Thanksgiving. To me, "Thanksgiving" is more than just the day in late November when we all gather around with our families and eat turkey and candied yams and green bean casserole and all kinds of other delicious foods... the word "thanksgiving" itself is actually first defined as "the expression of gratitude, especially to God."
Personally, I don't care what God you love, or if you don't even subscribe to a religion. I have my own beliefs, and they match some of yours. They don't match others... but we should all agree that it is good to "give thanks", to be appreciative for the blessings that we have, and to find reasons to be happy with life.
I'm thankful for this community, the many friendships that have been made here, and I'm thankful for hope.
Turkey and pie are just bonuses.
(Dark meat for me, please! And keep the celery out of the stuffing, you monster! )
Iraq is in a fantastic spot right now. YES, they have had a rough 6 weeks or so. The people have been demanding change, and it looks like they are getting it. The GOI is making real changes to their government structure, Parliament is discussing some necessary actions to reduce corruption, restructure their systems, and make a final push towards recapturing their glory days.
I'm sure a lot of people have given up on Iraq recently. Quite honestly - this is good for those of us that have chosen to hang in there. We can draw a very significant parallel between bitcoin and the Iraqi dinar here - it is estimated that 4-5 million bitcoins have been lost forever. I know I personally lost quite a few on an old hard drive, and others have lost even more. I had some on exchanges that went under, and some I just lost the key to. No matter what happened to them, they are gone forever, which raises the value of those remaining to be traded. The same goes for Iraqi dinar - with every "loss" of outside investors, Iraq's obligation to the world decreases, and makes it easier for them to come out with a higher value.
The saying goes, "it's always darkest before the dawn".
Iraq has seen some dark times. But dawn IS coming... I'm hanging in there, and I'm thankful that you are as well.
Talk soon! And be on the lookout for some Black Friday/Cyber Monday specials around here... they may be coming at a really good time for you.
By Adam Montana
Happy Wednesday, dinarvets!
I'm in the middle of a blizzard (ok, it's just snowing a little) and I've got a bajillion fires to put out here at home, so this one will be quick!
The good news is that I see lots of good reasons to come back with more updates before next Wednesday. In fact, I made a detour to buy a lottery ticket this morning - that's how good I feel about the near future! (Get in the lotto pool here.)
It looks like the protest situation is coming to a head, all while budgetary and other government issues are also moving forward.
The US is putting pressure on Iraq to do something about the protests, which really means the US is putting pressure on Iraq to get their butts in gear. This article I posted states that the Iraqis are grumbling about "US interference", but the fact of the matter is this: if the US is putting pressure on them, they are going to do something. And they are going to do something that moves Iraq in the direction we want, and it's not going to drag out forever. Personally, I see that as a positive sign and I'm looking forward to the next week.
Here's some evidence of what I'm hearing that has me feeling positive... despite the blustering about not wanting US interference, the news says they are doing exactly what we want. Take a look at this and the 12 posts that immediately follow it:
We are looking at a positive situation, friends. I'll be back with more as it develops - hopefully even before the weekend, if the rumors I'm hearing are correct. This can all come to a head very quickly.