Wednesday Night Opinions @ 10:58 PM CDT - 3/24/2021

[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

 

*** Breitling *** Where does my math come from?  My math comes from calculating on their debt plus 4% GDP growth.  In other words they get rid of their debt and they have enough money to get their economy running and encourage a 4% in GDP growth.  That's where I get around a 56 cents range...Iraq says 1 to 1.  I say it's going to be a slow growth from around .56 cents on up.  That's just my opinion.  That's just based on the math...It's not going to do them any good coming in at .10 cents, and if they do it won't be for very long. They need to go higher...

 

*** Pimpy *** I know you guys hearing all kinds of rumors out there that in country they're already exchanging at 1 to 1.  That's not true.  There's no evidence of that whatsoever...

 

*** Frank26 *** Article: "The Central Bank adds a new feature to the Iraqi banknotes"  Quote: "the Central Bank of Iraq announced on Monday, that it has added a feature to protect banknotes from bacteria and viruses to the national currency"  If you go to the CBI website you will be able to see when they last printed currency.  It was in 2018.  It's the 250's the 500's that they are going to be including with the new small category notes...the coronavirus came out in 2020 but...they haven't printed any new currency since 2018...something doesn't sound right...this is a marketing ploy...bring me your infected 3-zero notes...says the CBI...We want to protect you...I will give you brand new small category notes with a new value to it against the American dollar...We believe this is a propaganda ploy to bring in as many zeros as possible.  I'm impressed with this tactic...
 
 

*** Mark *** The Iraqi budget vote is still slated for Saturday at 1 pm Iraq time…which we think should give us our new value.  On April first most of their government has agreed to a 40-60% decrease in pay of the number of dinar they will get…So it will have to have a higher value to justify this…it doesn’t make sense…it doesn’t jive…they have to many responsibilities that will require that higher value...i don’t believe they can kick that can any further.   We will see.

 

*** Jeff *** This weekend nor the month of April Iraq isn't going to do anything with the budget.  They can't.  Iraq's not going to do anything with the exchange rate because it's the Central Bank that calls the shots. They're the ones that are in charge of the monetary system. They're autonomous from the government. They're not going to adjust the rate at this time. The rate is going to remain where it's going to stay because the central bank is using it as a tool to remove 3 zero notes out of circulation up until the point the rate changes.