ronscarpa Posted October 17, 2020 Report Share Posted October 17, 2020 Good Evening 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 *** Pimpy ...there's more exchange rate talk. But it's just conversation for now...they didn't say this is being implemented. Again this is a discussion... *** Frank26 The HCL - It's a law of the National Oil Company. It has 4 major laws in it...the last line item law that they have been working on to complete at least for 17 years...It's the biggest law in contention - basically asking, Who controls the oil and gas in Iraq? Who distributes the profits that belong to the citizens?...who's in charge of doing this? Now what happened [Tuesday]...this is to remove any distinction between Kurdistan and Baghdad. The question of who is going to control the oil and gas revenues coming into Iraq is now established...it's going to give birth to the Hydrocarbon Law...that is huge. That is tremendously important in order for them to give a date and the rate. *** MilitiaMan ...When they say "reducing the value of the Dinar", they mean the reduction of the three zeros from the exchange rate. They are not going to be devaluing the currency. By "reducing the zeros from the exchange rate" (raise the value) allows them to go into the or a market economy where the real competition is. It will activate the industrial and agricultural sectors when doing so. imo...This supports they are at that final stage to set that gem in place. ...It is the FINAL REPORT and they are now to have or have presented the necessary legislation to proceed with implementation procedures. This is very good indeed! I suspect they have every intention now with all the work done and sorted accordingly, we are in a very good place to see the golden ring. ~ imo. *** Mark ...Iraq contacts are still very confident we will see some kind of vote over the weekend that allow us to move forward with a new value…I hope they are right... No one knows the exact timing so just hang on and moderate your expectations. *** Frank26 ...I bought my dinars in 2004 so that's 16 almost going on 17 years now and I remember way way way back then somebody said to me 'Frank the day that you see the HCL for the citizens of Iraq in the next breath you will see the new exchange rate'...17 years has gone by and [Tuesday] my teams finally saw the HCL...What did I say IMO was inside of the 'white papers'? The rate - How much they're going to value it when they lift the 3 zeros form their exchange rate and the date of when they're going to announce this to the citizens of Iraq. What else did I say the white papers contained? The HCL. Wow...no wonder those white papers make sense... *** Kaperoni I can factually say that in 2013 Iraq was about to float the Iraqi dinar. There was directives from the IMF, Shabibi announced he was about to begin reforms after 14 months of stability and I was present at a market maker's facility where a trading platform was constructed. All in support of floating the dinar as stated in the IMF Article IV Consultation. This is the process and this is how monetary policy works. After many years and corruption and lack of success, Iraq needs to implement economic reforms and get back to this process. *** MilitiaMan Article: "Central Bank Governor: We Have Started Implementing The Banking Sector Reform Plan" Article Quote: "He cautioned that "reducing the value of the dinar will create real competition and activate the industrial and agricultural sectors in Iraq." The Prime Minister spoke about competition. The Finance Minister spoke about competition. Now the CBI Governor is speaking about competition. Competition is a key component of a market economy. Looks like the Central Bank of Iraq has had the ear to the IMF. The reform paper terms are initiated now.. The terms or basis has to be applied when international. That is all about what is expected next as in what is to follow.. Yep, that is implementation of the basis.. Read rate or value.. Either works for me. That appears to be all there is for today - Have a great weekend - Blessings ... RON 3 9 Quote Link to comment Share on other sites More sharing options...
aj1 Posted October 17, 2020 Report Share Posted October 17, 2020 Thanks Ron and good weekend to you as well! 1 Quote Link to comment Share on other sites More sharing options...
ronscarpa Posted October 17, 2020 Author Report Share Posted October 17, 2020 10 hours ago, aj1 said: Thanks Ron and good weekend to you as well! Thanks aj1 ... appreciate it - I'll try my best...RON 1 Quote Link to comment Share on other sites More sharing options...
Recommended Posts
Join the conversation
You can post now and register later. If you have an account, sign in now to post with your account.
Note: Your post will require moderator approval before it will be visible.