Saturday Evening Opinions @ 6:30 PM CST - 1/30/2021

[ronscarpa]

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

 

 

*** Petra *** Article: "Finally, the 2021 budget is ready for approval in Parliament" Quote: "the Parliamentary Finance Committee will, next week, distribute copies of the revised draft of the Maronite law to the heads of political blocs 24 hours before the date of the voting session on the budget law." The source pointed out that "next Monday is the day set for resuming parliamentary sessions and voting on the budget law."  So, IMO, BIS requires at least 24 hours notice prior to any formal rate change within all CB's around the world. They, in turn, relay that information back to all the CB's globally.  Now, if you read what I just posted the final "draft" will be sent...24 hours prior to the vote. Interesting timing. This may be something, maybe nothing, but it sure falls in line with rate before budget. They are to vote on Monday as Tuesday is their "last day of session!" So, timing is sure unique and allows the ledger to reflect the rate change retroactively back to Jan 1. Again, IMO.

 

*** Jeff *** Article: "Shocking parliamentary warning: The dollar may rise to 500 thousand dinar"  ...this is not even from the Central Bank...this article is pure trash...Anytime financial information is put out in the news if it's not from the Central Bank I would be very careful trusting it.  Be careful trusting only one single article...  Article:   "Parliament intends to reduce the dollar exchange rate in the budget".   Here's what they're really going to do...they have to.  Their inflation is rising and they have to bring it down.

 

*** Adam Montana *** [Q" : Do you think Iraq will go to a digital currency?  And Do you feel it will happen at the same time, before or after the rv?]  Eventually, yes. After.  The timing for an RV is good now. The timing, technology, etc for converting to digital isn't quite there at the moment. Taken from another site that follows Adam and posts snippets from his chats. See Adam's full chat on our DV Chat Logs forum at: Adam Montana Weekly 27 November 2021

 

*** Bruce *** ...what we are looking for them to do is to do a final vote...of the budget - AND…the HCL...The HCL is the Hydro Carbon Law - it’s the Oil and Gas Law...the law that takes percentages and attributes the percentages to the region of Kurdistan and the rest of Iraq and Baghdad...they are going to vote on is a final vote on 2021 budget and the HCL on Monday...but to be able to do that they have to have a new rate on the Iraqi Dinar before the vote...one of our individuals that lives in Mosul...said that has to happen before Monday – well guess what?  The first business day for Iraq is Sunday – my gut is they will have that new rate on Sunday...the timing is interesting as far as the vote on Monday – Remember – we do have a group of people over there in Iraq to help them finish this – and give them any additional help they need regarding the reevaluation of their currency – What is it going to come out at?  I don’t know exactly – I know it should be really good – along the lines of what Dr Shabbibi  said it would be – back in 2012... We shall see, but I think it's unlikely...RON

 

*** Jeff *** They'll have the budget done by mid-February.  That's all that matters.  The exact timing of this has nothing to do with the rate change.  Even if they complete the budget in a week or two it has nothing to do with the timing of the rate change.  The rate change will have everything to do with the timing of their fiscal year...Iraq is walking in Kuwaits footsteps...Don't forget Iraq kind of already gave you the rate change date  - when they devalued the currency on December 20th.  That was a 90-day tool for the rate change...to reduce the dinar note count and get more 3 zero notes out of circulation within the country of Iraq...you guys are in the best spot you've ever been in.  We're looking really good...