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Tuesday Afternoon Opinions @ 4:53 PM CDT - 12/22/2020


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Good Afternoon 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. :twothumbs:RON

 



Newshound Mnt Goat    I see that there is so much concern about the latest news about how the CBI is now setting the old dinar rate of 1190 (about 84 cents) to 1450 (about 69 cents). What is the CBI doing?  I know we all expected the program rate to get closer 1.00 from the 84 cents prior to the project to delete the zeros. So, what happened and why is the CBI doing this and doing it now? ...by doing this the CBI is cutting out the spread that is made in the currency auctions and money exchangers. ...by having done this it is hurting the banks and their profit margins and the money laundering going to Iran. Next, it is forcing the banks to invest in other profitable ventures and not get so dependent on the currency auction revenues, which are going to end soon...(post 1 of 2).. 

 

Newshound Mnt Goat   Next, what was more amazing is at the same time the CBI also announced they are doubling the amount of US dollars for circulation. ...The CBI is using the principle of supply and demand. ...If this works, and it should, the value of dinar will rise against the dollar as the US dollar drops. Remember the dinar is on a de facto peg to the US dollar...In short, the CBI is manipulating the US dollar to get the dinar to rise...The citizens will then want to take the US dollars and exchange them back to dinars since the dinar will be worth more. The CBI is using the speculators of the US dollar to their advantage...This switch back to dinar is going to happen suddenly and without notice much like the devaluation just happened. ...This is when they will issue the lower denominations and the fun begins. It’s all in the timing. Then the fun begins…I feel we will see the rate get better than the 1190 (84 cents) and closer to 1.00. This will happen all of a sudden almost with amazement and shock..(post 2 of 2).. 

 



Frank26  We have a situation where the CBI is coming out and saying we have a new exchange rate for the Iraqi dinar.  Don't we have a bunch of articles that said 'we're working very hard to raise the value of the dinar?'  Don't we have the IMF that said 'Iraq is going to lift the value of their currency before the end of this fiscal year? We told you the value of the Iraq dinar was going to go up based on all the articles.  These articles are powerful because they come from the horse's mouth not our opinion.  So what happened? ..(post 1 of 2).. 

Frank26   ...Back in the 1990's...China takes their newspaper, they take a full page and it was a disclaimer from the Chinese government saying 'We're not going to raise the value of our currency...'  Three days later...the IMF announces that the Chinese currency has gone up in value.  Kuwait in the late 1990's did the same thing...why did you do what you did?  ...Kuwait and China say it's because we're going through a monetary reform with our currency.  Iraq is going through the same thing...what they're doing right now is a one time thing.  This 1450 is only for a short time.   [post 2 of 2]

 



Newshound MilitiaMan  Article quote: "...the bank is preparing to launch a package of measures that will achieve a shifting balance in the exchange rate for the year 2021..."   They are preparing a package of measures that will balance the 2021 Exchange rate. Well, it will not be a future devalued rate of 1460 be sure, imo!! That is to be challenged, rejected or amended. imo...



Newshound Kaperoni ...The CBI is trying to maintain stability that is a given but it pertains to the market rate and there are several reasons why stability is important... As for the official CBI rate that rate could go up if the conditions are appropriate. Over the last several years they haven't passed the laws or created any suitable investment environment etc. so it hasn't.    But believe me once all of that stuff is in place and millions or billions of dollars are pouring in for investment in a private sector/market economy the official rate will change via a float...

 

 

:tiphat:

Edited by ronscarpa
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