Saturday Morning Opinions @ 11:22 AM CDT - 9/04/2021

[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 

 

 

*** Mnt Goat  ...Welcome to September! Yes, we are off to a VERY GOOD start as things are really progressing in Iraq... the Finance Ministry (part of the GOI) wants currency reform...Sounds to me that the Central Bank of Iraq (CBI) may be considering launching yet even lower of the lower denominations in the coming months. Will they just launch all the rest of them or just the 2 notes in sequence 50, 100..? How can they unless they increase the rate of the dinar or the notes will be literally “worthless”...

 

*** Kaperoni  The Central Bank of Iraq tonight in the news stated that they're going to be changing the exchange rate of the Iraqi dinar. It seems like they were talking about going from 1460 to 1450 in an attempt to encourage investment. Not the kind of significant RV people are wanting...The change does not seem to state the new rate but it mentions the current rate of 1460...

 

*** Frank  (Firefly Boots-on-the-Ground Statement:) "This is going to cause a problem with speculators to buy a lot of dinar if they show the new small category notes first and then later the exchange rate."  The CBI is in full control of their currency and monetary reform  and their exchange rate.  They have already stopped selling the Iraqi dinar.  Why do you think it's so hard to get it.  They stopped selling it to the wholesales over two years ago...the CBI knows exactly how much is in the broker's hands/vaults. [Post 1 of 2]...more to come. 

 

 

[ronscarpa]

Added @ 12:25 PM CDT:

 

*** Desert Advisor  Article quote: "Floating the currency is fully or partially liberalizing the currency exchange rate".  They are not fixing the exchange rate.  They're letting the exchange rate go on to whatever market price that it settles at.  Free market basically.  Amazing plan ...  (1.) They changed the exchange rate and  (2.) Now the exchange rate is floating. 

 

[moose 57]

Until it happens I keep on laughing!