It’s a cheery day in my part of Dinar-land, for a couple reasons… one is probably more important than the rest, so I’ll hop straight into that piece.
GOI. The “Government Of Iraq” has always been a crucial part of this journey. There’s simply no way to raise the value of the dinar, and then maintain a higher rate, without a stable GOI.
Those of you that have been around a while probably recognize “Groundhog Day” when you see it - we are currently wading through the murky waters of a dubious election process. This can be extremely confusing, particularly when we are trying to get our news from mostly poorly translated news articles, so I’ll break it down.
I’m also going to explain why this is a “cheery” time in my opinion!
The recent elections went down pretty much exactly like the last 2 or 3 election cycles… votes were cast, accusations of fraud were thrown around, and weeks post-election there is no clear victor.
Let’s look past the “headlines”, though. Look at what’s actually happening, and things clear up a bit.
Abadi's opposition is reported to have won something of a majority of the votes, so it’s possible that he’ll be donning the captain hat. Abadi, in the meantime, is apparently ignoring the entire issue and has moved forward with a good number of items that he could have easily ignored or postponed to dump off on the future President, should it come to light that he has lost his seat.
This tells me that one of two things is happening… either Abadi is confident that he’ll retain his position and is eager to continue moving Iraq forward (towards an RV, of course!), OR he’s on the same page as his “opponent” regarding the future of Iraq.
Either outcome is fine - the way things are moving forward is positive for us. I figure it will take a couple weeks for everything to shake out. If Abadi is ousted, he is still laying very solid groundwork for his successor. If he retains his position, he’s setting himself and Iraq up with a solid launchpad.
No matter who is in charge a month from now, we’re heading the right direction, and with good speed.
And that, my friends, is good news to me!
Everything else is moving at a good pace, I figure we’re on pace to see some solid resolutions over the coming weeks.
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I already touched on the GOI, so regarding OPEC - that's fairly straightforward. Iraq is still in prime position to take advantage of everything OPEC has done over the last couple years. It's almost like they are setting Iraq up for success! But at the same time, OPEC won't "force" Iraq to RV - their actions and positions are only encouraging them to do so.
Oil is stable and still perfect for everything we want to happen.
I've spent a little time on that subject over the last month or so. I'm seeing a couple different possible scenarios, but I'm still strong on .10
Let's see how these next couple weeks shake out! I'm pretty optimistic about our upcoming timeline.
That is one of the million dinar questions for sure!
Luckily for us, in my opinion, it probably doesn't matter.
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All good stuff, my friends! I'm looking forward to the coming days, hang in there with me and if you're not in VIP - get in!