Thursday Afternoon Opinions @ 4:55 PM CDT - 10/01/2020

[ronscarpa]

Good Afternoon Dinar Vets, here's a few 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

 

 

*** Ray Reportedly, Iraqi President Barham Salih was on Iraqi TV stating that there are three plans for reducing the rate of the dinar and deleting the 3 zeros. One of those will be chosen soon.

 

*** Kaperoni   Several articles today about LOPing the dinar.  We have said numerous times that this is a possibility. [I know this can be an option, but I believe it's a slim chance based on most of the other articles from CBI.  Do you agree, Kap?]  It would take parliament approval and therefore we are watching for such action. In an article last evening, the prime minister's reform paper to be submitted to parliament has been postponed until mid-October. If so, we won't see anything being done until then. With all the recent talk about deleting the zeros, it is concerning a LOP is in this reform.

 

*** Pimpy  ...A couple days ago or so we had an article in which the IMF was suggesting that Iraq do a reduction on the exchange rate.  That's good for us.  We got other news.  Article "Iraq: the government is compelled to "delete the zeros" from the dinar currency..."  ...This person is suggesting that...they go ahead and devalue the currency.  This scenario is not good for us.  We want them to reduce the exchange rate.  We do not want them to reduce the value of the actual dinar...this has been studied.  This has been talked about several times....the studies show is you can't do that [devalue the currency]. It effects the poor people...in addition to that it'll cause the citizens of the country to lose faith in their currency because it has no value...this article here is an economic expert saying that this is what the Iraqi government should do.  The other article is the IMF saying this is what they want done...a reduction in the exchange rate.  That's good for us.

 

*** Jeff ...we have not seen article talking about deleting the zeros this whole year.   This week alone we've seen two of them.  That's good.  That's encouraging.  But these are actually talking about a LOP which is removing zeros off the physical notes which is a devaluation of their currency.  It's a NEUTRAL effect, not a decrease..Ron  Not an increase...This information is not from the Central Bank.  It's from private news groups which means the people sharing - this information is their opinion.  Unless this type of information is from the Central Bank we don't care...  


*** Mnt Goat  Article: "THE CENTRAL BANK CONFIRMS THE IMMINENT LAUNCH OF THE TERMS OF THE BANKING SECTOR REFORM PAPER"   I like the use of the words like “imminent and soon”.   We know that this reform paper does include the project to delete the zeros...