FRIDAY NOONTIME GURU OPINIONS @ 12:50 CST - 2/28/2020

ronscarpa · February 28, 2020

2-28-2020 Newshound Guru Pimpy We've been trying to figure out if Iraq has the money to cover an exchange rate of $3.20. There's a lot of good arguments for it. I get it. I really do...but you know the amount of currency that Iraq has issued is way higher than what Kuwait has. It's not like a little bit. It's drastically higher. I mean huge. So that really lowers the value of the dinar because they have so much out there. What I'm hoping makes a difference is less than 5% of it is in country. I still think about 90% of it, 92% of it is in central banks everywhere. Not as much as people think are out there in the hands of spectators. I'm hoping that Iraq, IMF and World Bank realize that although there are some that are in the hands of the public but there's not that much of it. That they could go ahead and take a chance on a higher rate. In order for Iraq to really grow economically they're going to have to come out with the sweet spot. We know this...

If you recall, former CBI Governor Adnan Shabibi (author of the plan to delete the zeros) said that Iraq could support a value in excess of $10 (I think he actually said $14). We realize circumstances have changed, but not so significantly as when he made that statement. I suspect he knows some things that Kaperoni doesn't when he makes the statements he has been. RON

2-28-2020 Newshound Guru Jeff ...since the beginning of the year I basically said...Iraq would take their sweet time because they really had nothing left to do and that's playing out tremendously within the formation of the government...they are milking the formation of the government. IMO though the formation of the government is done. Complete. I really wouldn't worry about it...we're at the end of this ride...it's all coming together right before our eyes...