Saturday Midnight Opinions - 6/05/2021

[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 

 

 

*** BobTheTaxMan  Question: [Any News at all concerning Warka?]   The last information I got from Warka [Bank in Iraq ] is that they are still working on the integration and the technology to interface themselves with CBI.  It's been much longer than what they thought it was going to take and obviously there's still some politics and things that are in one for it. They say they plan on/hoping to have this thing done by next month and that's the latest information I got.

 

*** BobbyC   China wants Iraq's oil at a discounted price, "oil for reconstruction", not the IQD...every asset they have help strengthen their currency. How they use those assets towards a free market is why we're still here...then there's the question of which currency do they take international. 

 

*** MilitiaMan  Article: "Anxiety prevails among Iraqis for fear of the deterioration of the purchasing value of the dinar"  Quote: "...next Sunday, which is the date for the resumption of official working hours and the Central Bank offering new amounts of hard currency within the policy of preserving the value of the dinar."  Iraq at 1190, 1450, 1553, 1600 or even 2000, as the numbers have been floated over the preceding 4-5 days  suggest they are not hard currency numbers. ...Now take that in mind to what is expected from the CBI and not street traders or bankers, etc., and have the CBI drop three zeros from any of those aforementioned numbers and you get international hard currency. imo.. That also, if we think and are correct, it will suggest they will need to show new small category notes to go along with the adjusted new rate.

 

*** Frank26  I think the reason why the monetary reform/new exchange rate is soon to come out is because Iraq has what Dr. Shabibi, the author of the monetary reform - I think he wanted something Iraq has...I believe Iraq has security and stability beyond anything that I ever dreamed about...

 

*** Mnt Goat  Article: "FOR THE FIRST TIME SINCE FEBRUARY 2020, IRAQ ACHIEVES A MONTHLY SURPLUS IN ITS FINANCIAL BUDGET"   Oil surplus? What’s their excuse now? Okay then why is there a proposal to devalue the dinar again? This economic and financial policy of Iraq is crazy. There is no excuse for doing what they are doing in holding up the RV and the project to delete the zeros. It is all corruption and nothing else.

 

*** Jeff   Iraq is showing from many angles they have major instability and they keep telling you how they can't bring forward the economic reform at this time because of the level of instability and all of the corruption they have...until they reach stability the rate change could be hindered and take a while...they have been ready for the last 7 years to change the rate.  They just can't.  There's a couple of major hurdles they have to overcome...