Thursday Afternoon Guru Opinions @ 5:40 PM CST - 4/23/2020
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By ronscarpa
Remember, no one really knows what will happen, or when. They're simply stating their opinions based on what they perceive to be happening in Iraq. RON
*** Footforward [Q? : It feels very close to me. But after 10 years I’m cautious...does it feel close to you?] I've been saying for some time I feel this is the time and season. So much is coming together now.
*** Frank26 ...the closing of the auctions was amazing - powerful for our investment...the closing of the federal reserves was the same thing...
*** Jeff Last Friday...I said Iraq most likely will not complete the budget until Saturday March 20th...24 hours before they change their rate...that way they can hide the budget figures from you. Article: "New statement from the Minister of Finance regarding income tax, exchange rate and salaries of 2021" Quote: "Allawi issued a new statement regarding changing the exchange rate of the dollar in the '21 budget...we do not know the final form of the general budget amended by Parliament". They just told you they're hiding the figures from you and they have not publicly shown you the real true budget...Mark my words. They're most likely going to approve the 20 ['21?] budget on Saturday March 20th...
*** Walkingstick and Frank26 ...IOO this week or at the start of next week you're going to start seeing more articles from the CBI. 1. The first articles that will be coming...is an affirmation of the meetings that the CBI has been having with what we call the Fab Four. These meeting are still ongoing. 2. Once you see these article of an affirmation about these meetings and their agreements of what they are going to do with their monetary reform, a few days later after that you've going to see more articles from the CBI with information on the face value of the new small category notes...(post 1 of 2)..
*** Walkingstick and Frank26 [Frank speaking for the CBI to the Citizens of Iraq] ...citizens of Iraq you still have dinar in mattress don't you. That's ok...the 1000, the 500, whatever you have - they're still going to coexist but only for a certain time frame Iraqi citizens...GOI you go ahead and use the 50k and the 100k for business. 3. The CBI will also discuss in these articles to the citizens what was agreed upon with the new exchange rate and the REER (the Real Effective Exchange Rate)... 4. These meetings are still ongoing. They will continue even after the value of the Iraq dinar goes up and pegs to the American dollar. These meetings will continue to make sure that everything is according to what they all agreed upon. Praise God...(post 2 of 2)..
*** Jeff At this point in time what are we looking for? Iraq has one step left...for them to literally complete the '21 budget before they change the rate. Are there any unique signs or patterns pertaining to the approval process of the '21 budget? Yes there is. It strongly appears as though Iraq is intentionally delaying and dragging out the budget so that they can hide its figures from us...IMO Iraq might change their rate on Sunday March 21st. One of the patterns we're looking for to help confirm that time period is we're looking for them to delay the '21 budget clear until possible Saturday March 20th...we need to watch that step and see how it plays out...
*** Mnt Goat ... Todays news is all about the budget and the refusal of the Kurdistan region to accept solutions presented to them. What do they want? They want a budget the recognizes and supports the people in the regions of article 140. They also want the oil and gas law... they have had enough of promises and want ACTION...they are also VERY upset over the devaluation of the dinar that took place in December. This move nearly destroyed their economy in Kurdistan...They want the full 17% plus the extra % under article 140. Under the law would guarantee them this but where is the law?
An interesting day with opinions ... Blessings ... RON
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By ronscarpa
Remember, no one really knows what will happen, or when. They're simply stating their opinions based on what they perceive to be happening in Iraq. RON
*** Frank26 *** [There was a Question about the Vietnam Dong] ...The Vietnamese dong is no longer under the thumb of China. China would tell Vietnam you can't do this. You can't export that. Gotta do this, that. Now Vietnam is exploding. Their GDP, economy is exploding. There's not much China can do about it and the reason why is China is going digitally with their currency and so is Vietnam. China is about to let go of Vietnam and let Vietnam do what it wants. I think Vietnam wants to enter an Asian basket. A lot of people are saying the Vietnamese dong is going to be in a basket with the Iraqi dinar. No! The Iraqi dinar is going to be in a basket with Middle Eastern currency. The Vietnamese currency will be in a basket with Asian currency...
*** Footforward *** [Q? : ...How many baskets do you think there will be?...If I understand correctly, there will be one strong hub currency in each basket...] From what I've been told there are three baskets currently in play. Every basket has what's called an anchor currency. The one that's going to have the biggest move and basically helps to create what's needed for the other evaluations to happen. The dong is one, it anchors the Asian basket. Even more so now. The Iraqi dinar...anchors the middle East basket. The third basket I can't talk about yet. I may never be able to talk about it publicly...There could be more in time but at the moment there are plans in place for three.
Boring VND stuff ... Blessings ... RON
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By ronscarpa
Remember, no one really knows what will happen, or when. They're simply stating their opinions based on what they perceive to be happening in Iraq. RON
*** Pimpy *** This [Recently discussed tweet from the Iraqi Government] is old. These were the words of the Finance Minister before the rate change happened {When they devalued in December}. There's no date on this tweet...I'm pretty sure this is something that was said sometime in December or at least it was said in an article before the rate change happened when they first were talking about the White Paper reforms. I don't want you to get down. It's not bad news. This is just 'look at everybody jumping on this like they're going to change the rate again' ...slow down sparky. I got you. I remember these words specifically. These were said before they devalued the currency...
*** Jeff *** They've pretty much almost stopped the currency auctions. Not quite to 100% but there's down to probably about 95% reduction in country. That's tremendous. Remember I told you about the time they devalued the currency clear back on December 20th - this is one of those patterns we were looking for...they have done so. That's just more confirmation they're in the progress of changing that exchange rate.
*** Petra ***...if they were going to have a budget at 1450 or even 1190 they'd have done it. That's what's key to understand. They are waiting for the rate because they know that's what they need to make all the changes.
*** Frank26 *** The Iraqi dinar is pegged to the American Dollar. You may say no it's not. Trust me it is electronically. It's already 1 to 1. I know that's a bold statement to make...the Iraqi dinar is about to play fair with the American dollar. It's pegged to it. It has no choice.
*** Jeff *** [Question: "Is the gain from this exchange rate considered taxable income?"] I know a lot of people think this isn't going to be taxable. It's going to be a taxable event guys. We live in the greediest country in the world - the United States. I promise you this will not go untaxed. Plan on paying your taxes and getting on with your life. Keep it legal. Keep it real. [Note: Always consult a tax professional at the appropriate time.]
*** Mnt Goat *** Article: "AL-KHALIDI IS SURPRISED THAT THE CABINET HAS FORMED A COMMITTEE TO STUDY THE CONSEQUENCES OF CHANGING THE CURRENCY EXCHANGE RATE" So, is this proposal to change the exchange rate just to change it back to 1250 before the devaluation to 1450 or is it to 1:1 with the US dollar and give the Iraqi dinar the strength it really deserves? I believe, based on other articles... that it is a study to go to 1:1 and then to eventually raise it back to 3:1 and even higher... there is much pressure to finally get this done.
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By ronscarpa
Remember, no one really knows what will happen, or when. They're simply stating their opinions based on what they perceive to be happening in Iraq. RON
*** Adam Montana *** ...I know it can be a bit painful to try to decipher the articles, so I'll give you the elevator summary: Things are going well. There is a current discussion on "raising the price of the dollar", which would be bad for Dinar, and the overall sentiment is that they publicly do NOT want to "raise the price of the dollar". (That's a good thing for us!) Part of the reason is due to the current favorable price of oil. And, of course, none of that matters when the HCL goes through. It's been pretty quiet on the HCL front... When the HCL comes, we have an RV either already announced or just around the corner. Until the HCL is done, we wait patiently...I have no doubt that we will reap the dinar windfall... Go Iraq... Go Dinar...GO RRRVVV!!!... This was taken from a site that follows Adam's opinions and posts snippets from them. See his whole chat @ Adam Montana Feb 28 2021
*** Jeff *** Remember I'm not a financial advisor. This is nothing more than my opinion. I strongly feel the rate will come in around the $3.80 range. That's my personal opinion...
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By ronscarpa
Remember, no one really knows what will happen, or when. They're simply stating their opinions based on what they perceive to be happening in Iraq. RON
*** Adam Montana *** ...In GOI news, Iraq is muddling through the final stages of the Budget. We don't need the Budget to be complete before an RV, but a "happy agreement" between the Kurds and Baghdad will do a lot to grease the wheels...This was taken from a site that follows Adam's opinions and posts snippets from them. See his whole chat @ Adam Montana Feb 28 2021
*** Jeff *** Iraq is completely on par with Kuwait. Iraq and Kuwait's fiscal year (I know this for a fact because I've already consulted with the Iraq government) is April through March of the following year. That's why Kuwait changed at the end of April [March?] to accommodate the March fiscal year...If you want to know when Iraq's doing their rate change, they're doing it on the exact same historical Sunday when Kuwait did theirs...Iraq is following in Kuwait's footsteps.
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