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Wednesday Afternoon Opinions @ 5:45 PM CST - 2/24/2021


ronscarpa
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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

 

 

*** MilitiaMan *** I don't believe they'll go out and float it [the dinar] this early on [after rate change].  If they stick to having it fixed going into the future it will help contain the inflation...

 

*** Jeff *** They [Iraq] are gonna have two sets of notes in circulation.  They're gonna have large notes and small notes...two sets of notes will coexist together utilizing the same exchange rate...this is just an example.  Let's say the rate is $3 - if the rate is three a 25 note is $75 after the rate change...a 25000 dinar note times $3 is worth $75000.  Both the 3 zero notes and the smaller notes below 100 will have the same exact rate.  They're not going to have different rates...you're in a great spot...

 

*** Pimpy *** Article: "The Iraqi government expects a rise in foreign reserves of $4 billion by the end of February"   this is a good thing...Quote: "according to the immediate office of the Prime Minister that the foreign exchange reserves of Iraq began to rise after it was threatened with collapse and is expected to increase by nearly 4 billion dollars by the end of the month..."

 

*** Breitling *** [Question: What comes first - Does Iraq need to build their economy in order to increase the rate or does Iraq need to increase the rate first? Iraq needs to increase the rate first to build an economy.

 

*** Walkingstick and Frank26 ***...Iraqi bank teams (exchange departments of banks) are about to meet with those who are going to talk to them about the exchange rate changing.  That's pretty powerful.  This week that's when we think this is going to occur.  The CBI will inform these banks a lot more on the date they gave them on which to raise the value of the currency.  And more communication on how these CBI banks will deal with the citizens of Iraq - the new small category notes.  The ATM machines.  Opening new accounts.  The new exchange rate, explaining it. All that stuff.

 

*** Mnt Goat *** Article: "OIL DEMAND EXPECTED TO PEAK AND $150 PER BARREL PRICE EXPECTED"    ...the price of oil does affect the budget and the rate at which the dinar will revalue at. Remember that there is going to be an in-country RV first as they proceed with the project to delete the zeros simultaneously and then later (much sooner than later) there is going to be a reinstatement of the dinar. So, there are two different rates to consider. We are outside Iraq and so the rate we consider is only at what rate the banks in our country will offer to exchange our dinar at. This bank rate will most likely be 2 or 3 times the rate offered in Iraq.

 

 

:tiphat:

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