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Wednesday Late Night Opinions @ 11:45 PM CDT - 7/21/2021


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 



*** Breitling  Question: "Can the dinars be exchanged for dollars outside the country to save taxes?"  I'm assuming you're here in the United States.  Yeah you can but you don't want to do that.  Bob [Guru BobTheTaxMan] puts on a program where you can not pay taxes here in the United States and it's completely legal.  The problem is once you start going out of the country...to these 'safe havens' you don't have any representation.  There's no one to represent you.  You're a foreigner.  They laugh at you.  It happens all the time..(post 1 of 2).. 
 

*** Breitling  You don't want that...that question scares me for you because what are you going to do?  Put your money in an offshore account somewhere and squirrel and sit on it.  You don't want that.  You always want a reserve/insurance policy for sure  but you also want to be able to invest in other opportunities coming up...you don't need to risk... going out of the country, waste of time, waste of money and you're vulnerable...(post 2 of 2)..(NOTE:  Always pay your fair share of taxes - Consult your tax and financial professionals at the appropriate time to determine what your fair share needs to be.)

 

 


*** Frank26   [Guru] Walkingstick and I told you last Monday they are going to come out with negative articles going against the raising of the exchange rate.  They are not talking about lifting the 3 zeros from the currency.  That's stupid.  I saw some guru say, 'Yeah, you see I told you it was a lop.  They're lifting the 3 zeros from the currency...' I told you there was going to be misinformation.

 

*** Pimpy  The Kuwait dinar and Iraqi dinar were around the same.  They were on par.  Iraq is, you know, the second largest oil nation in the Arab world.  They're soon to the be first.  They'll get there.  Then you start doing a side-by-side comparison just for shits and giggles between Iraq and Kuwait.  Iraq has a bigger population that means they have a bigger workforce.  That makes their currency more valuable.  They hold more gold than Kuwait.  That makes their currency more valuable.  They have more foreign assets.  They have more resources than Kuwait does.   These are all the things taken into consideration when thinking of the value of the dinar.  The only thing that Kuwait's got going on right now is they're pretty stable...

 

 

:tiphat:

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Posted (edited)

Tuesday Midnight Opinions - 7/20/2021 not posted last night:

 

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 

 

 

** Breitling  Question: "Would you please explain the difference between a managed float and free market float...?"  Iraq has a couple of options depending on the business strategic partnerships they have.  If it gets to the point where it's too messy/everything is moving too much they are going to go with a managed float But if the markets open up and they are looking at what you and I are looking at where the worlds money supply is going to double by 2032 then they want a real market rate...All it is that's going to dictate for you is the speed of the value going up.  That's going to dictate how long you're in this investment.  It's not a negative thing...you do not want to be in an investment forever...there's more opportunity coming down in completely different sectors than Iraq that will blow away what you and I are doing especially if it revalues and you have money.  It's a game changer.  You need to have an exit strategy.

 


** Kaperoni  There will never be an RV of the Iraqi dinar it's just not how monetary policy works and as I've already mentioned there's too much currency in circulation. In the talk of reducing the money supply, it can't be done because they currently use the auctions to maintain the exchange rate which is a balance between dinar and dollar.  The only way they can reduce the money supply is to float the currency and allow it to gradually rise over time, and at the same time they could reduce the currency..(Post 1 of 2).. 

 

** Kaperoni  ..but again, they have to float the currency first and make it internationally recognized so that they have an alternative to the auctions before they could ever reduce the money supply. I don't expect anything to happen this year because Iraq doesn't pass the laws and create any condition for investors to come in. If you read any of the articles or news coming out of Iraq you will see it is nothing but complaints about how difficult it is to do business with Iraq...(post 2 of 2).. 



** Mnt Goat   Article:  "AL-KAZEMI’S ADVISOR: NOT TO RELY ON OIL PRICES BECAUSE THEY ARE UNSTABLE, TO CHANGE THE DOLLAR EXCHANGE RATE AGAINST THE IRAQI DINAR"   What I believe Saleh is saying is that they should take the dinar off the de facto peg to the dollar as it is fixed and dependent on oil prices. We know the only way to do this is to reinstate it back on FOREX, put it in a basket of the 5 other currencies and get off the sole peg to the US dollar and then to float it. This way it will not be so subject to oil prices alone. This should have been done years ago...

 

 

:tiphat:

Edited by ronscarpa
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On 7/22/2021 at 12:47 AM, ronscarpa said:

 Iraq has a bigger population that means they have a bigger workforce.

They also have more vacations.  That has to count for something!😁

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