Saturday Night Opinions @ 8:40 PM CST - 12/12/2020

[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

 

 

*** MilitiaMan  Article:"People of experience and confidence....The Golden Triangle" Quote: "We wish success, success and repayment to the leaders of the Iraqi economy in their difficult mission...will undoubtedly succeed."  Sure looks like the have they system ready for change. The are effectively saying thank you to the three in the golden triangle...The minister of finance, the CBI Governor and the Investment Authority.  Combine this with the meeting at the Presidents house last night, the Kurds getting their payments simultaneously and the borders with Saudi Arabia are talking about a $ Billion for the year and that in revenues at the borders within days will be upward...upwards imo is an increase...So for all these items and payments, letters of guarantees, salaries, etc. to all be in sync is very telling.  They have the Golden Triangle to thank and they are, as this wasn't an endeavor that started yesterday. It has been a massive work in progress. Lets see what they have to say in the coming days...It looks very good, as the rescue is underway. imo.

 

*** Mnt Goat Article: "ADVISOR AL-KAZEMI: THE RISE IN THE DOLLAR IS TEMPORARY BUBBLES"  The real reason for the spike in the dollar is the speculation when the news came out of the “project to delete the zeros”.  Citizens under uncertainty (in their heads) run out and purchase dollars for their dinars. As usual demand brings the price up. But the article was honest in telling us this would be temporary, but not why it would be temporary. But we all know the real reason.

 

*** Pimpy ...like you I'm curious to see what they're going to put in the budget in terms of a rate.  I know you are as well.  Nonetheless don't be upset or don't be overly excited when you see the rate.  I have a feeling it's going to go up in increments.  Keep an eye on it...

 

*** Frank26   Everybody knows there's a rate change coming for the Iraqi dinar.  They know about the calculations.  They know about the recalculations and the recalculations and the recalculations...IMO they're done...do you understand they're applying it?  They are saying by the end of the year they will raise the value of their currency.  Of course something could go wrong.  Something could delay it.  We're talking about 3 weeks.  It is well known by everyone that by the end of the year they will raise the value...the articles were not specific.  they do no give you date.  They did not give you the rate...IMO they're going to be on par with the American dollar...

 

*** NORV (aka Kaperoni)   There is over 40 trillion dinar outside Iraq's banking system within Iraq. As well Iraq's total wealth including oil and all minerals is only 16 trillion dollars. There is no way Iraq can RV the dinar significantly it would absolutely make them broke. It is not possible. If the dinar is ever going to go up in value it will occur as the IMF has stated in the consultation with Iraq...which is to get off the peg and float the dinar allowing it to gradually over time rise. This would allow the CBI to offset inflation caused by significant investment as well as reduce the money supply gradually. It could take several years to accomplish this. This is not my opinion, it is what the IMF said to Iraq.