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KristiD

NEW BREITLING UPDATED JUNE 29

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6-30-2020   Newshound Guru Breitling   ...

There's two options on the table. 

To withdraw from the reserve or to add value to the currency.  

That's the main debate going on.

So some of these guys in parliament are are like,

'let me get this straight,

so if it's not $66 per barrel [oil]

we're getting our asses kicked financially domestically inside of Iraq.  

But if we add value to our currency not only do we get to keep our reserve but if we get it high enough we can pay all of our salaries?  

There's actually a debate on whether we are going to use our reserve or add value to our currency?' 
That's how ridiculous it is...

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1 hour ago, jcav said:

That .66 has to be in country. 
It will be more when it goes international!

 

1 hour ago, davis411 said:

That’s what I was thinking

 

like .67 or dare to dream .675 


Davis Has A Dream ! :o 
 

image.gif.243fb42143d8f5862fdd2d331239f833.gif

 

:D  :D  :D 

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17 hours ago, Miamiheatnic said:

This can pop anytime, no one knows the windows, only that this can pop any given moment.

 

 

Well well well......(after 16 years in the Hope Cage)

 

In the meantime it did poo anytime......

 

 

Best of Luck to All of you

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16 hours ago, jcav said:

That .66 has to be in country.  The countries that forgave all their debt and sent in military to die for their freedom will want much more than that.  It will be more when it goes international!

 

 

If it ever........

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7-1-2020   Newshound Guru Breitling  ...

they are looking at how to tackle the financial problem they have inside of Iraq. 

They looked at the reserve and they said,

'they probably could take out 11 billion dollars worth of the reserve and not really hurt the value of the currency and to be able to fix some of our problems.'  

But you have a completely different group saying 'you don't need to do that.  

Let's protect our reserve. 

Add value to our currency. 

And invest in the Western markets.'...

these guys will never give you rates...

they'll always avoid giving some sort of rate...

you and I know what they need for the budget - for it to succeed.  

My projected budget for what they needed at $53 to $56 a barrel was about 56 cents to the dollar. 
Now it's about .63 cents to the U.S. dollar...see the trend? 

It's going up... 

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Newshound Guru Breitling   ...they're worried about regionally having a currency that's valued too high.  The pressure cooker they're in is that they need to add value to their currency otherwise they're going to go broke.  If they add too much value to their currency they are going to go broke.    That's just the reality.  But what people don't understand is that other countries are in the same position...Iraq basically told everybody they want to get the value of their currency to $3.25 [Wait a minute, you just said if their currency is too high in that region they are going to get their asses handed to them.]  That's true.  But if their currency was a global currency, then it wouldn't matter would it.. ...Take for example the United States and Mexico.  How much is their peso worth.  Look at Canada...If Iraq is international they could have a huge high price.  But if they're going to be local for right now, regional, then they can't go that high...Let's say their markets are going to be regional and they do add value to their currency it helps them get to international markets.  Well if they're in international markets and it becomes more and more dependent on international markets you're going to see the value of the currency keep going up...If it's regional...they're never going to get past a buck... 

:moneybag::moneybag::moneybag:

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On 6/30/2020 at 5:35 AM, davis411 said:

At .66 all you will see is 💨 from me running to the bank 

 

                Come'on Davis. We all know you don't run in Canada.

                It is waaaay more 'Presidential' to sled to the bank.  :lol:

 

 Funny Race Half-Naked (40 pics) - Izismile.com

 
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17 minutes ago, Half Crazy Runner said:

But isn’t it true that if it doesn’t go international, we won’t be allowed to trade in our dinars anyway?

 

I am no expert on how this all works, but I do know that when I got into this 9 years ago, there were still a few banks that dealt in dinar - that would exchange dinar.  I remember specifically Fifth Third bank was one of them.  It was my understanding that the other banks like Chase, that had previously been dealing in dinar, had stopped because there were so many dinar holders constantly calling them asking if the rate had changed.  So I believe that now, if the rate does change and even if Iraq stays regional for a while, the other banks will all want to start dealing in dinar again because 1) they make a fee for that and 2) they are likely to get really big USD deposits if they choose to deal in dinar.  So personally, I'm not worried about this.  jmo

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2 hours ago, KristiD said:

 

I am no expert on how this all works, but I do know that when I got into this 9 years ago, there were still a few banks that dealt in dinar - that would exchange dinar.  I remember specifically Fifth Third bank was one of them.  It was my understanding that the other banks like Chase, that had previously been dealing in dinar, had stopped because there were so many dinar holders constantly calling them asking if the rate had changed.  So I believe that now, if the rate does change and even if Iraq stays regional for a while, the other banks will all want to start dealing in dinar again because 1) they make a fee for that and 2) they are likely to get really big USD deposits if they choose to deal in dinar.  So personally, I'm not worried about this.  jmo

Thanks for the info KristiD! 
What we were told by our bank here, (First Citizens) is that the reason they quit dealing in the dinar was that the situation in Iraq had changed. Iraq no longer just gave you credit for your dinars from an American bank. First you had to ship your dinars to them, they would verify if they were not counterfeit and then determine what price they were willing to give you for them. They wouldn’t guarantee a price ahead of time. It was all very risky. 
Anyway, being internationally accepted and traded would make things so much easier. So has Iraq been given the green light on that or are they still waiting?

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Newshound Guru Breitling  If the value of their currency is too high regionally...no body is going to want to do business with Iraq because the value of labor is too high.  This is how Iraq is going to look at it.  They are going to look at that.  And they are also going to compare it with them doing business outside of Iraq and they might be able to pull it off.  That's how they're looking at it.  That's why they haven't made the decision yet.  That's why they're taking their time.  You guys are in panic mode because you're waiting for your big payday.  You don't realize how important of a decision this is for Iraq...  They've got to be able to balance...how do they be competitive in the region and also take advantage of the International markets Because if they go too high - regionally they're going to get cut off.  If they go too low they're not going to be able to pay for the local budget. 

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