Wednesday Night Opinions @ 11:15 PM CST - 12/02/2020

[ronscarpa]

Good Evening DV, 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

 

 

*** Jeff *** "Deleting the zeros" could mean deleting zeros off of the physical note themselves or off the rate.  When they reference "delete the zeros" they mean in a way 2 things.  They do mean delete zeros off the note but that's because...they're gonna replace the larger 3 zeroed notes with smaller notes and nothing greater than a 100 dinar.  But the phrase "deleting the zeros" really means deleting zeros off the exchange rate [.00086 becomes .86 ].  The only way they can strengthen the dinar is to replace large notes with small notes and delete zeros off the exchange rate to increase the value.  That's all this means.   Nothing more.

 

*** Frank26 *** ...IMO there are 5 steps that we are looking at...What are the 5 steps? 1.  The executive bankers they met with the CBI and the CBI told the executive branch level of all the banks in Iraq this is what we are doing with the monetary reform.  The count.  The printing.  The new exchange rate.  The date we want to do this.  The rate we're gonna come out at...that was two weeks ago...now step 2.  The Senior executive level at the banks.  That was last week...step 3.  This week the floor managers are going to start receiving their information...Step 4 that would be the tellers...that will probably be more than likely next week or the week after.  The Managers this week and then it goes to the tellers...  Step 5.  The Citizens...it's going fast.

 

 

That appears to be all for today folks ... Blessings..!  RON

[rvmydinar]

1 hour ago, ronscarpa said:

 But the phrase "deleting the zeros" really means deleting zeros off the exchange rate [.00086 becomes .86 ]. 

" deleting zero off the exchange rate " this is what all dinar investors want and hopefully it comes sooner and closer. the rate 0.86 isn't not bad , but we prefer at least 1:1. come rv sooner and closer.

[trvlr787]

The only way they can strengthen the dinar is to replace large notes with small notes and delete zeros off the exchange rate to increase the value.  That's all this means.   Nothing more.
 

I don't trust their verbiage because taking the 25k note and saying it is now a 25 note while also removing three zeroes from the exchange rate is break even. Then if they float a gradual increase is where it will strengthen itself.  We know it has been undervalued so this would be how we make anything on it. If it is truly undervalued then it will rise. They have said the notes will coexist but the bigger ones will become the same value as the smaller until eventually the larger ones are used up and replaced. 

 

I hope I'm wrong but I don't trust their interpretation. A lot of moving parts in the methodology. 
 

 

[SabalPalm]

I can assure you that Iraq, an oil rich, financially stable country that has convinced 190+ countries that their currency is a good investment, will not be allowed to keep the value of it's currency so undervalued for much longer.

Edited December 4, 2020 by SabalPalm