ronscarpa Posted December 13, 2021 Report Share Posted December 13, 2021 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 *** Frank26 I always thought that it would be somewhere between $3.86 and $4.25 but the more and more we're studying some files we are now finally opening...Kuwait...told the IMF IMO you can help Iraq lift the value of their currency...but all the things that Saddam did against us - fix it. And that's what they've been doing and paying them back. And then one of their clauses was when you do raise the value of their currency make sure that it's very near our currency value (but they must be less than ours). Their value right now is $3.32 so if you had a million dinars and it was that 1 to $3.32 you'd have $3.3 million American dollars. *** Pimpy Yesterday...[I was] talking about Iraq being in Chapter VII and if they're removed out of chapter 7 what happens...the article was from 2013. It wasn't about the year - I was trying to show the details of what the article said. The details are what were important because it explains what happens when Iraq is taken out of Chapter 7...that whole plan that's laid out there actually is happening now. The highlights of this article was saying 'Allowing Baghdad to regain control over its own currency...its return will not only revitalize the economy it will strengthen the value of the Iraq dinar and increase its purchasing power...' [See Pimpy's post from yesterday (12-12-2021) below.] *** Mnt Goat ...I know it seems very weird how they would devalue the dinar so much and then just 2 years later revalue it so much. It could go as high as over $4 if oil stays high enough by the the time they RV/RI... ************ Pimpy from 12/12/2021 *********** ** Pimpy Article: "Chairman of the Committee of Financial Experts Abdul Basit Turki, reviled today Thursday, that the US Federal Reserve has stopped the automatic deduction from Iraqi oil revenues in favor of Kuwait's compensation" Quote: "After that [Making the final payment], Iraq will submit a request to the General Secretariat of the United Nations requesting that it be removed from the provisions of Chapter VII of the UN charter." Chapter VII is major. It's so big it's one of the biggest steps we need to take in order for Iraq to do any type of rate change...be happy. Be a little excited but don't go overboard. We have no idea what's going to happen...We don't know what they're going to do until they do it. [Post 1 of 2]. ** Pimpy Article: Throwback - The first time they lifted Chapter 7 2013 "With Chapter 7 Lifted, Iraq Regains Control of Its Own Economy" Quote: "the lifting of Chapter 7 sanctions last month can be considered one of Iraq's biggest achievements...allowing Baghdad to regain control over its own currency, oil and economy." Quote: "One of the biggest advantages of the lifting of the sanction is the return of all frozen assets to the Iraq government estimated somewhere around $82 billion according to the Central Bank data. Its return will not only revitalize the economy it will strengthen the value of the Iraqi dinar and increase its purchasing power." There's reason to be happy. There's reasons to be excited...but stay grounded...there's no date there. There's no rate there. It merely tells you what happens once Iraq is removed from Chapter 7..[Post 2 of 2]. 2 10 1 Quote Link to comment Share on other sites More sharing options...
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