Monday Evening Opinions @ 6:00 PM CDT - 9/14/2020

[ronscarpa]

Good Evening Dinar Vets, here's several opinions & comments that might be of interest to you. 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

 

 

*** Dinar News Flash ***  News articles out of Iraq are indicating  Iraq's Prime Minister Al-Kazemi has appointed a new Central Bank of Iraq governor.  Stay tuned as to what impact this major appointment will have on the dinar and the timing of a possible RV/rate change. 

 

*** Kaperoni   It is confirmed...Ali al-Alaq is out as CBI Governor. New CBI Governor is Mustafa Ghaleb...

 

*** MilitiaMan   ...We know the goal is to go to a social market economy. A Market economy is free to trade across borders. A program rate doesn't get into the free markets. But, an international rate does get them into a market economy...Where they can borrow in effect from themselves with leverage from the value of the new exchange rate/currency. Just as the IMF and World Bank have told them. We see a clear theme lately that is pointing to that Iraq is backed into a corner. They have no liquidity to pay salaries and they tell us they have two choices...Austerity or float the currency. ...So from the looks of things the cards will be on the table soon enough to see if any of this is pertinent or not. My bet is what is in print supports they will see the reforms through now...The solutions is to raise the value (financing by inflation) and floating the currency. imo.


*** Jeff  We have some very amazing news that I'm shocked to see...it's good.  Article: "The first Sunni comment on Al-Kazemi's incursion into the ranks of the "deep state"   Quote: "...Prim Minister Kazemi made major changes in a number of government position most notably the Central Bank Governor of Iraq..." ...the original Central Bank governor was only a proxy.  He was temporary.  There was some theory that we might need to see a new Central Bank Governor before the rate could change and there you go...has now officially happened...as you see they're cleaning house, making a lot of changes right now.  That's good.

 

*** Kaperoni   There is a lot of talk in the media about the government submitting the economic reform law by the end of month to parliament.  This is an important law and we need to watch closely to see if there is anything on it regarding currency reform.

 

*** Jeff  ...Iraq can only pay [contracts with the Iraqi dinar].  For example I told you that they signed that contract with GE for 1.2 Billion dollars.  Because of Article VIII Iraq can only make payment with their currency - the dinar.  They cannot use the US dollar.  So in order for them to make payments... their currency has to be internationally recognized.  GE is not going to accept payment with a non-internationally recognized currency.  So anybody receiving payment from Iraq, the Iraqi dinar must be internationally recognized to receive those payments...

 

Edited September 14, 2020 by ronscarpa

[NoviceInvestor]

Thank you Ronscarpa.. interesting news which may bode well ..