Wednesday Late Morning Opinions @ 11:33 AM CST - 2/02/2022

[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 

 

 

*** Pimpy ***  I'm starting to almost change my opinion on where the rate change might happen.  Not an RI or an RV...but you might see a little bit better than...1190 dinars.  I believe the lower value that we've seen in the past takes it down to 1050 dinars for every dollar which would be a pretty good little drop...I know people are jumping up and down going 'no we want an RI or RV Pimpy!'...Like I said you're not going to get an RI or RV until they do something about not having to rely on oil as much as they do...I think you're going to see the dinar increase in value but I think you're going to see it start somewhere between 1190 dinars and...1150 dinars...the lower the better. 

Pimpy is starting to sound a little bit like Kaperoni. 

 

Remember what I said on last Friday afternoon & evening:

1) Even at 1170/USD it is still a first step in the right direction ... RON

 

 

2)  Guys I agree with you that 1170 doesn't work, especially with the LDs, but as I mentioned - it would be a good "first step" in the right direction; even if they were to float it from there. However, I personally believe they will need to start from somewhere close to a dollar.

 

If they went back to 1170 (.0008547 cents/iqd), then dropped the three zeros from the exchange rate then it would be .8547/iqd or 85 1/2 cents.  I'd be happy with that as a starting point for a float.  I'm just hypothesizing..! RON

 

**************************

 

*** Kaperoni  ...'they're not going to open the 2022 budget unless they raise the exchange rate.'  Yes, there is talk of this but only returning it to 1170.  Kaperoni is saying the same thing as Firefly on his TV Report.  

 

FIREFLY: The CBI is back on TV...saying Iraq has unprecedented growth in foreign reserves...we're hearing that the rate will change when the budget is opened up and it will go back to the previous rate...it sounds like the previous rate of 1190 or so.  It doesn't sound like the previous rate way back in 2003.  Maybe it will go back to the previous rate of last December the 20th...and then it will float.  It's just very confusing...the exchange rate will change to the previous rate.  But which one..?

 

Firefly:  They're now talking on the TV about what they're going to do with the rate.  They're thinking it will go to 1000 or so then float ...a lot of talk about the rate being better than previous, then float.

 

Edited February 2, 2022 by ronscarpa

[NWGUY]

I agree with Ron...somewhere between .85 to 1.00, and float from there, but I really think that when they do get the new rate in place there will be a window for exchange, so they can get all the dinars from out of the country before they actually float it.   Either that, or they will float it, and make money on the exchanges as it rises.  Most people will bail out right away, and they know that.  

[ronscarpa]

1 minute ago, NWGUY said:

I agree with Ron...somewhere between .85 to 1.00, and float from there, but I really think that when they do get the new rate in place there will be a window for exchange, so they can get all the dinars from out of the country before they actually float it.   Either that, or they will float it, and make money on the exchanges as it rises.  Most people will bail out right away, and they know that.  

 

I agree with you NWGUY, but I think the window will be between 6 months to a year "if there is one (for the 2003 series)", not like the 90 days when people had to exchange their Saddam or Swiss Dinars for the New 2003 IQD.... Once they are internationally traded on Forex, people will go in and out on trading the IQD, just like every other internationally traded currency...! RON 

[NWGUY]

5 minutes ago, ronscarpa said:

 

I agree with you NWGUY, but I think the window will be between 6 months to a year "if there is one (for the 2003 series)", not like the 90 days when people had to exchange their Saddam or Swiss Dinars for the New 2003 IQD.... Once they are internationally traded on Forex, people will go in and out on trading the IQD, just like every other internationally traded currency...! RON 

 

 

True .... True Ron.  They have a lot of ways to do this.  We just need to be prepared!  

[MommaMia]

Well all these rumor's sound ok, but I guess I am going to set back and wait for Adam to send me the real news

we RV'd at $x.xx time and date and instruction's on next move. Speculations/assumptions are not good in my

book.  Facts of RV is what I would like to hear. I guess for some, rumors breaks their boredom and gives them something to do. Love ya all. Have not been around on the site in long time been caring for my folks for the last 15 years. Lost mom Aug 19th and dad Nov. 24th of 2021. So been a caregiver for two which kept me pretty busy. All is good just trying to get back in the groove of things. Sure would be nice to have the RV this year to put some dollars back in my savings. Ya all have a great day and God Bless ya.

 

[yendor]

I have a question, let's say that the Dinar revalues qt $0.60 with a window of 6 months. I have one million Dinar and  want to cash in  and ride the float. I purchase $600,000 worth of the NEW Dinar that is going to realize the float that will eventually get to $1.00 or more..... Will I be taxed on the 600K AND the $1 million when I decided that the float was enough ? just asking for a friend.

[MommaMia]

13 minutes ago, yendor said:

I have a question, let's say that the Dinar revalues qt $0.60 with a window of 6 months. I have one million Dinar and  want to cash in  and ride the float. I purchase $600,000 worth of the NEW Dinar that is going to realize the float that will eventually get to $1.00 or more..... Will I be taxed on the 600K AND the $1 million when I decided that the float was enough ? just asking for a friend.

You will be taxed on the 1 million IDQ at RV US rate $.60 in the year you cash in. The 600,000 IDQ will not be taxed until you cash in on it. If you cash in the 600,000 the same year you cashed in the 1 million IDQ you will pay taxes that year.  Uncle Sam is going to get his money like it or not, unless you do off shore dealings.

[bkeiller]

This is the perfect bait and switch if they are saying 1190--even if they have no political control over the rate. It has to be a deep lie to work.

 

At 1190, it is hardly going to create a run on their currency at that rate. The perfect cover?

 

(Okay, just mental masturbation mixed with optimism, there.)

 

😆

[sgtsanders]

1 hour ago, MommaMia said:

Well all these rumor's sound ok, but I guess I am going to set back and wait for Adam to send me the real news

we RV'd at $x.xx time and date and instruction's on next move. Speculations/assumptions are not good in my

book.  Facts of RV is what I would like to hear. I guess for some, rumors breaks their boredom and gives them something to do. Love ya all. Have not been around on the site in long time been caring for my folks for the last 15 years. Lost mom Aug 19th and dad Nov. 24th of 2021. So been a caregiver for two which kept me pretty busy. All is good just trying to get back in the groove of things. Sure would be nice to have the RV this year to put some dollars back in my savings. Ya all have a great day and God Bless ya.

 

GOD bless you!!! Me and my wife are taking care of her mom. She is totally bedridden. 
 

Hebrews 6:10

GOD is not unjust; he will not forget your work and the love you have shown him as you have helped his people and continue to help them.

[moose 57]

Give me a 10 cent rv and I'm outta here!

[MommaMia]

2 hours ago, sgtsanders said:

GOD bless you!!! Me and my wife are taking care of her mom. She is totally bedridden. 
 

Hebrews 6:10

GOD is not unjust; he will not forget your work and the love you have shown him as you have helped his people and continue to help them.

May the good Lord be with you two also. It is not and easy task at all and  taking care of two make it worse yet. There is only one of me and mom got dementia along with bipolar. She became mean and dad was 97 and hard for him to get around. I had to lift him into my truck to take him to the VA (WWII Vet) they did wonders for him I contribute them given him at least three more years with me. I spent the last 13 years watching over and helping them. Now they gone it’s hard to figure out what to do with my time. Gets lonely every now and then. But I am ok just have readjust and start getting out and doing things once again. Been many years now not going anywhere or doing much of anything. Thanks for your message. 

["Fred"]

3 hours ago, sgtsanders said:

GOD bless you!!! Me and my wife are taking care of her mom. She is totally bedridden. 
 

Hebrews 6:10

GOD is not unjust; he will not forget your work and the love you have shown him as you have helped his people and continue to help them.

Sorry to hear about your wife’s mom. I was taking care of my mom the last few years she had dementia, cancer and copd and she was only bedridden the last 6 months and that’s when it all started going downhill quickly,god called her home 10/17/2021 she was 88 years old.  my head has definitely been in a bad place since then but I’m glad I had the chance to care for her and spend that time with her it’s never easy watching a loved one especially mom slowly fade away.  I’m hoping this ride we are on ends soon so I can just move on with life without worrying about money. 

[lmb4321]

I pray this ride ends soon for all of us......

[ronscarpa]

4 hours ago, yendor said:

I have a question, let's say that the Dinar revalues qt $0.60 with a window of 6 months. I have one million Dinar and  want to cash in  and ride the float. I purchase $600,000 worth of the NEW Dinar that is going to realize the float that will eventually get to $1.00 or more..... Will I be taxed on the 600K AND the $1 million when I decided that the float was enough ? just asking for a friend.

 

Why in the world would you cash in, then turn around and buy more at the higher rate..?  You'll have to pay taxes on the profit from the exchange of the $1 Mil IQD.  You'll end up with "far less"  than $600,000 (exchange fees + taxed @ 39%). The 2003 IQD & any new IQD will have the same value. If you recall the CBI stated that the 25K IQD notes would co-exist for quite some time.

 

Just cash in enough to pay off your bills and hold the rest for any upward float. RON 

[coorslite21]

Kind of funny to me that anyone. (Pimpy) would think because the Iraqi Economy is mostly funded by oil that they won't have any change in value until they diversify...

 

Saudi Arabia and Kuwait are good examples are why his thoughts are off...

 

And really, if he's ok with that screen name.....how smart can the guy be?

CL 

[shixjr]

9 hours ago, coorslite21 said:

Kind of funny to me that anyone. (Pimpy) would think because the Iraqi Economy is mostly funded by oil that they won't have any change in value until they diversify...

I've thought the same thing CL.  Why does it matter where your money comes from as long as it keeps coming?

[3 bucks new rv rate]

On 2/3/2022 at 6:03 AM, ronscarpa said:

If you recall the CBI stated that the 25K IQD notes would co-exist for quite some time.

thank you Ron. that sounds good to my ear..

[6ly410]

Go RV 

[yendor]

On 2/2/2022 at 6:03 PM, ronscarpa said:

 

Why in the world would you cash in, then turn around and buy more at the higher rate..?  You'll have to pay taxes on the profit from the exchange of the $1 Mil IQD.  You'll end up with "far less"  than $600,000 (exchange fees + taxed @ 39%). The 2003 IQD & any new IQD will have the same value. If you recall the CBI stated that the 25K IQD notes would co-exist for quite some time.

 

Just cash in enough to pay off your bills and hold the rest for any upward float. RON 

 

Because, if there was a "window of cash-in", that would be the only way to ride the float to a higher rate...... Or am I thinking on yhe wrong tract ?

[ronscarpa]

5 hours ago, yendor said:

Because, if there was a "window of cash-in", that would be the only way to ride the float to a higher rate...... Or am I thinking on the wrong tract ?

 

You're looking at it all wrong ... First, there might not be a window, and if there is one it won't be very short like in 2003. Second, if there is a window you'll be able to deposit IQD in an Iraqi Bank that will surely open up in the US and countries around the world - so you can let it float in there without cashing in & paying taxes. Third, once the IQD goes international and is on Forex it will start to appreciate almost immediately - we just don't know what restricting parameters the CBI will place on it. Remember, you still hold the valid currency of Iraq - it's real and has intrinsic value, albeit a fraction of a cent currently.

[rvmydinar]

21 minutes ago, ronscarpa said:

Second, if there is a window you'll be able to deposit IQD in an Iraqi Bank that will surely open up in the US and countries around the world - so you can let it float in there without cashing in & paying taxes. 

Thanks for your info Ron. I like what I read. 

[yendor]

4 hours ago, ronscarpa said:

 

You're looking at it all wrong ... First, there might not be a window, and if there is one it won't be very short like in 2003. Second, if there is a window you'll be able to deposit IQD in an Iraqi Bank that will surely open up in the US and countries around the world - so you can let it float in there without cashing in & paying taxes. Third, once the IQD goes international and is on Forex it will start to appreciate almost immediately - we just don't know what restricting parameters the CBI will place on it. Remember, you still hold the valid currency of Iraq - it's real and has intrinsic value, albeit a fraction of a cent currently.

 

 

Thank you for that, Ron.

 

But hasn't it been said that when the RV happens there woud  be a SHORT cash-in period so to get the Dinar holders to cash in at the lower rate and then come back with a higher rate?  I am sure that I had heard this more than once and not by all these goofy gurus either.

[ronscarpa]

4 hours ago, yendor said:

Thank you for that, Ron....But hasn't it been said that when the RV happens there woud  be a SHORT cash-in period so to get the Dinar holders to cash in at the lower rate and then come back with a higher rate?  I am sure that I had heard this more than once and not by all these goofy gurus either.

 

Neither the CBI or GOI ever said such a thing. It was mentioned by a couple of gurus to keep people on their toes and expecting something to happen. There is no indication it will happen - their currency IS their currency. In fact, the CBI under Shabibi did state that the 25,000 IQD notes would co-exist with the LDs when they were released. I hope this helps - RON 

[3 bucks new rv rate]

3 hours ago, ronscarpa said:

In fact, the CBI under Shabibi did state that the 25,000 IQD notes would co-exist with the LDs when they were released. I hope this helps - RON 

thanks again Ron. your explanation makes me feel more confident about this investment..