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Sunday Night Opinions @ 11:10 PM CDT - 4/17/2022


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 

 

 

 

*** Pimpy  Yep more rate change conversation.  They're out there talking about their rate exchange again...This seems to be the talk of the town.  Article: "Finance responses to news of its discussion to reduce the dollar exchange rate"  Before we had a lot of discussion about the rate change.  That's obviously died down a little but I think it was interesting that there was article after article talking about a rate change given the fact that oil prices we up in a big way...$150/barrel that's supposed to be happening shortly.  If the projections are correct then Iraq is going to have a lot more money than they had anticipated...which is what you want...
 

 


*** Kaperoni  [Follow up to Guru Kaperoi's 'Discovered new dinar research document" Post 4-15-2022]  ...what is being talked about and proposed in Iraq for the beginning of 2023 is a currency exchange (LOP).  At least two public events must happen before this currency exchange could occur.  Parliament must vote and approve of the new currency and implementation and they must officially notify the citizens.  The proposed implementation is at the beginning of 2023. [Post 1 of 2...REPOSTED]


***  Kaperoni  This is proposed and of course it directly is related to Iraq forming a new government prior...the Central Bank of Iraq would have to accept the proposal.  But considering this proposal is public, and symposiums are being held to educate the citizens, it appears to be what is being pushed forward to be implemented.   [Post 2 of 2]

 

:tiphat:

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***  Kaperoni  This is proposed and of course it directly is related to Iraq forming a new government prior...the Central Bank of Iraq would have to accept the proposal.  But considering this proposal is public, and symposiums are being held to educate the citizens, it appears to be what is being pushed forward to be implemented.   [Post 2 of 2] The question, at this point, is WHO is pushing this proposal foward and to what end. It certainly isn't what the Iraqi citizens want (or for us as well)..!

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7 hours ago, ronscarpa said:

*** Kaperoni  ...what is being talked about and proposed in Iraq for the beginning of 2023 is a currency exchange (LOP).  

LOP at the beginning of 2023? Come on craperoni. Just cut the crap and  no more BS. If you believe it is going to LOP, then you better sell out and go far far away so you don't spread anymore BS, craperoni.. Who said that? Who told you that? Did the governor of the CBI ever tell you about LOP? Did Frankie , Pimple, and little lamb ( i mean the goat ) ever whisper the word " LOP " in your ear?

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2 hours ago, rvmydinar said:

LOP at the beginning of 2023? Come on craperoni. Just cut the crap and  no more BS. If you believe it is going to LOP, then you better sell out and go far far away so you don't spread anymore BS, craperoni.. Who said that? Who told you that? Did the governor of the CBI ever tell you about LOP? Did Frankie , Pimple, and little lamb ( i mean the goat ) ever whisper the word " LOP " in your ear?

 

Kaperoni isn't saying it will LOP or should LOP - he's simply discussing the proposal made and what it means. His first post regarding the proposal was posted here on Friday Night 4-15/2022, and has been discussed Saturday & Sunday. He has stated that he doesn't agree with a LOP, and that isn't good for those of us who are invested in the IQD. You are reacting to what the proposal says as if it's Kap's suggestion - it isn't. Read it all from beginning to end and you'll see what he's telling us more clearly. Your remarks are unwarranted...!:salute:RON 

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11 hours ago, ronscarpa said:

But considering this proposal is public, and symposiums are being held to educate the citizens, it appears to be what is being pushed forward to be implemented.

If Kap or Frank were able to produce real evidence, like a video or news story regarding these reeducation “symposiums” that are allegedly being held for the citizens, I’d be more inclined to pay attention.

 

It’s a bunch of BS and just theories on both sides of the issue. On one hand you have education regarding the project to delete the zeros (Frank) and on the other a LOP (Kap). 

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10 hours ago, Fairways&Greens said:

If Kap or Frank were able to produce real evidence, like a video or news story regarding these reeducation “symposiums” that are allegedly being held for the citizens, I’d be more inclined to pay attention.

 

It’s a bunch of BS and just theories on both sides of the issue. On one hand you have education regarding the project to delete the zeros (Frank) and on the other a LOP (Kap). 

 

 Why don't you try googling for the information yourself - a little honest research won't hurt you, but it just might enlighten you. Then you can bring what you found out and share it with us here on DV..!  You could then dispell whatever you believe to be nonsense - and separate fact from fiction for us. JMHO...! :salute: RON

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20 hours ago, ronscarpa said:

 

Kaperoni isn't saying it will LOP or should LOP - he's simply discussing the proposal made and what it means. His first post regarding the proposal was posted here on Friday Night 4-15/2022, and has been discussed Saturday & Sunday. He has stated that he doesn't agree with a LOP, and that isn't good for those of us who are invested in the IQD. You are reacting to what the proposal says as if it's Kap's suggestion - it isn't. Read it all from beginning to end and you'll see what he's telling us more clearly. Your remarks are unwarranted...!:salute:RON 

Thanks for your explanation RON. I almost forgot that i am in rumors section, so there will never be any real evidence provided by the gurus.

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It's difficult to see the complete picture Kaperoni is attempting to present without seeing the documents he is referencing. I can post them if anyone wants to see them.  Here is a one comment from Kap on this when reviewing information one year old:

 

 

So here is my view..several economists last fall held symposiums in Iraq to discuss deleting zeros.  Papers have been written with a plan and submitted to the central bank on the timing and process.  This particular plan was written by Dr.. Yusuf Hakim Ghadeer the General Directorate of Education Babylon.  It was posted on the AL GHAREE for Economics and Administration Sciences 2021, Volume 17, Issue 2, Pages 92-106

 

https://www.iasj.net/iasj/article/216703

 

 

I have translated it and discusses the same things as this article posted above on Pukmedia.

 

If they proceed with this plan, it is stated the conditions are now correct for implimentation.  The timeframe is 1/1/2023 to 1/31/2023.

 

The concern is what the intent is..this is my understanding.

 

Iraq will issue a New Dinar.  That dinar will be internationally recognized without zeros (1, 5, 10, 20, 50 etc.) 

The current dinar (what we own) will continue and used / removed over time.

The current dinar will have rate of 1000 to 1 of the New Dinar.

The exchange rate of the New Dinar globally will be approximitely $.50 to the dollar initially (according to the article above).

 

So what this means is the following:

If you own a million of the current Iraqi dinars you can exchange them for 1000 New Iraqi Dinar (timeframe to exchange them not given but may be limited).

1000 New Iraqi Dinars will have an exchange rate of about $500 (1 New Dinar is equal to .50 cents in article) US dollars initially.

 

The intent is to peg the New Dinar to a basket of other currencies (partial float) and allow it to rise based on investment and growth of the economy in Iraq.  The New Iraqi Dinar value could eventually rise higher against the dollar thereafter.

 

They claim this New Dinar (without zeros) would be internationally recieved and accepted in transactions.  Would reduce the money supply from trillions to billions, and would create excitement in Iraq to use the New Dinar and would reduce the usage of dollars in Iraq.  The currency auctions would also end since the New Dinar is internationally traded/pegged to a basket and floating. Would also eliminate corruption from the auctions since they would end.

 

My problem with this is the initial exchange rate offer (1 New Dinar is equal to $.50 US dollar) is a further reduction in the exchange rate therefore would create even more hardship for the citizens.  I do not believe $.50 is appropriate and would have to be at least equal too or higher than the current rate of 1000 dinars (1 New Dinar) about $.68 cents.

 

This article is in essence a form of a LOP or redenomination.

--
Today's pizza...mushrooms, black olives and pepperoni
 
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Why would Iraq want outside investors to "dump" their IQD when the RV would have no affect on Iraq? It has been understood the IQD exchanged in the US would be placed into the federal foreign reserves, never returned to Iraq for accounting.

 

 

 

 

A couple of things....First the zeros off the current dinar do not change.  That makes me wonder.  And second though they are holding symposiums to teach Iraqi's, this still is only a proposal.  The CBI has not formally stated it is official or confirmed it is their plan.  And lastly, as I have said, parliament would have to vote and agree to a new currency.  So I would sit tight, not sell your dinar or do anything different until we know for fact what is going to happen.

 

My personal view remains the same..that the current dinar gradually rises (floats) as a result of the success and growth of Iraq's economy.

--

Today's pizza...mushrooms, black olives and pepperoni
 
April 15, 2022 at 4:12 PM Flag Quote & Reply
 

 

 

I agree with KAP.  In fact, I  would not be surprised to find out that the 50 cent exchange proposal is a red herring.  Think about it:  if you believe that your $1000 worth of dinar (1 million) will only be worth $500 next year, wouldn't you be tempted to unload dinar now?  Of course you would!  I personally think this is an attempt to get us to unload the dinar we are holding.  It almost has to be the case since we outside of Iraq are sitting on trillions of dinar.  If they can get a lot of us to dump our currency now (taking a 50% loss) then they will be in a better position next year to come out with a conversion rate of $1 to 1000 dinar later.  

This is pure speculation on my part, but it seems to me to make sense.  They are tempting us to dump.  I agree with KAP:  sit tight and wait until the dust settles.

I also agree with KAP that a true LOP has never been in the cards for Iraq.  I read through what he posted here and sent me and the examples given of other countries like Turkey, Algeria, and others, are not even remotely similar to what is going on in Iraq.  In particular, Iraq does not suffer from rampant inflation.  It was the inflation that caused the zeros to be ADDED to the other country's currency.  This is not the case in Iraq.  The zeros were added intentionally just after the Iraq war for no other reason than to make it impossible for Iraq to continue a fight.  There was no other justification given.

Therefore, I conclude, with KAP that when the dust settles we will at least reach parity ($1 per 1000 dinar) or better.  I also think that when the dust settles this will be shown to not be a LOP but rather a movement to a FLOAT that will coincide with removal of the zeros.  Remember, the plan was given us years ago by Saleh (the same man who is in this article, incidentally).  Back then the goal was to reduce the money supply as the value rose.  It will not surprise me to see the end result be what Saleh proposed years ago.  In fact, it would not surprise me to see the FLOAT precede any movement to a new currency without zeros.  As the value rises the large notes (25000 dinar) will be exchanged for smaller notes until, hopefully, and in a short period of time, ideally, they will no longer be found in the market at all, having been replaced by smaller notes that hold the value originally held by the three zeros notes.

It is no accident, in my view, that Saleh is referenced as having input in this process.  It was he who proposed years ago a float of the dinar and a gradual removal of the large notes (and reduction of the money supply) as the value of the dinar rises.  Finally, in this article it is stated clearly several times that the goal is to raise the value of the dinar.  This sort of language would not be used if the intention was merely a LOP.

Good find, KAP!

 
April 17, 2022 at 3:58 PM
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2 hours ago, Carrello said:

Why would Iraq want outside investors to "dump" their IQD when the RV would have no affect on Iraq? It has been understood the IQD exchanged in the US would be placed into the federal foreign reserves, never returned to Iraq for accounting.

 

 

 

 

A couple of things....First the zeros off the current dinar do not change.  That makes me wonder.  And second though they are holding symposiums to teach Iraqi's, this still is only a proposal.  The CBI has not formally stated it is official or confirmed it is their plan.  And lastly, as I have said, parliament would have to vote and agree to a new currency.  So I would sit tight, not sell your dinar or do anything different until we know for fact what is going to happen.

 

My personal view remains the same..that the current dinar gradually rises (floats) as a result of the success and growth of Iraq's economy.

--

Today's pizza...mushrooms, black olives and pepperoni
 
April 15, 2022 at 4:12 PM Flag Quote & Reply
 

 

 

I agree with KAP.  In fact, I  would not be surprised to find out that the 50 cent exchange proposal is a red herring.  Think about it:  if you believe that your $1000 worth of dinar (1 million) will only be worth $500 next year, wouldn't you be tempted to unload dinar now?  Of course you would!  I personally think this is an attempt to get us to unload the dinar we are holding.  It almost has to be the case since we outside of Iraq are sitting on trillions of dinar.  If they can get a lot of us to dump our currency now (taking a 50% loss) then they will be in a better position next year to come out with a conversion rate of $1 to 1000 dinar later.  

This is pure speculation on my part, but it seems to me to make sense.  They are tempting us to dump.  I agree with KAP:  sit tight and wait until the dust settles.

I also agree with KAP that a true LOP has never been in the cards for Iraq.  I read through what he posted here and sent me and the examples given of other countries like Turkey, Algeria, and others, are not even remotely similar to what is going on in Iraq.  In particular, Iraq does not suffer from rampant inflation.  It was the inflation that caused the zeros to be ADDED to the other country's currency.  This is not the case in Iraq.  The zeros were added intentionally just after the Iraq war for no other reason than to make it impossible for Iraq to continue a fight.  There was no other justification given.

Therefore, I conclude, with KAP that when the dust settles we will at least reach parity ($1 per 1000 dinar) or better.  I also think that when the dust settles this will be shown to not be a LOP but rather a movement to a FLOAT that will coincide with removal of the zeros.  Remember, the plan was given us years ago by Saleh (the same man who is in this article, incidentally).  Back then the goal was to reduce the money supply as the value rose.  It will not surprise me to see the end result be what Saleh proposed years ago.  In fact, it would not surprise me to see the FLOAT precede any movement to a new currency without zeros.  As the value rises the large notes (25000 dinar) will be exchanged for smaller notes until, hopefully, and in a short period of time, ideally, they will no longer be found in the market at all, having been replaced by smaller notes that hold the value originally held by the three zeros notes.

It is no accident, in my view, that Saleh is referenced as having input in this process.  It was he who proposed years ago a float of the dinar and a gradual removal of the large notes (and reduction of the money supply) as the value of the dinar rises.  Finally, in this article it is stated clearly several times that the goal is to raise the value of the dinar.  This sort of language would not be used if the intention was merely a LOP.

Good find, KAP!

 
April 17, 2022 at 3:58 PM

 

3 hours ago, Carrello said:

It's difficult to see the complete picture Kaperoni is attempting to present without seeing the documents he is referencing. I can post them if anyone wants to see them.  Here is a one comment from Kap on this when reviewing information one year old:

 

 

So here is my view..several economists last fall held symposiums in Iraq to discuss deleting zeros.  Papers have been written with a plan and submitted to the central bank on the timing and process.  This particular plan was written by Dr.. Yusuf Hakim Ghadeer the General Directorate of Education Babylon.  It was posted on the AL GHAREE for Economics and Administration Sciences 2021, Volume 17, Issue 2, Pages 92-106

 

https://www.iasj.net/iasj/article/216703

 

 

I have translated it and discusses the same things as this article posted above on Pukmedia.

 

If they proceed with this plan, it is stated the conditions are now correct for implimentation.  The timeframe is 1/1/2023 to 1/31/2023.

 

The concern is what the intent is..this is my understanding.

 

Iraq will issue a New Dinar.  That dinar will be internationally recognized without zeros (1, 5, 10, 20, 50 etc.) 

The current dinar (what we own) will continue and used / removed over time.

The current dinar will have rate of 1000 to 1 of the New Dinar.

The exchange rate of the New Dinar globally will be approximitely $.50 to the dollar initially (according to the article above).

 

So what this means is the following:

If you own a million of the current Iraqi dinars you can exchange them for 1000 New Iraqi Dinar (timeframe to exchange them not given but may be limited).

1000 New Iraqi Dinars will have an exchange rate of about $500 (1 New Dinar is equal to .50 cents in article) US dollars initially.

 

The intent is to peg the New Dinar to a basket of other currencies (partial float) and allow it to rise based on investment and growth of the economy in Iraq.  The New Iraqi Dinar value could eventually rise higher against the dollar thereafter.

 

They claim this New Dinar (without zeros) would be internationally recieved and accepted in transactions.  Would reduce the money supply from trillions to billions, and would create excitement in Iraq to use the New Dinar and would reduce the usage of dollars in Iraq.  The currency auctions would also end since the New Dinar is internationally traded/pegged to a basket and floating. Would also eliminate corruption from the auctions since they would end.

 

My problem with this is the initial exchange rate offer (1 New Dinar is equal to $.50 US dollar) is a further reduction in the exchange rate therefore would create even more hardship for the citizens.  I do not believe $.50 is appropriate and would have to be at least equal too or higher than the current rate of 1000 dinars (1 New Dinar) about $.68 cents.

 

This article is in essence a form of a LOP or redenomination.

--
Today's pizza...mushrooms, black olives and pepperoni
 

Thanks for the info Carrelo. You have been very helpful. So what we have to do now is just sit and don't sell our dinar until the CBI announce a rate change openly to the publics one day.

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Also,  let's just wait and see and keep a close eyes on what is going to happen with IQD between 1/1/2023 - 1/31/2023. Hopefully, month of January 2023 will be the end of the crazy ride and a surprise that we all have been waiting for almost 19 years.

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 By the way , Economists is just someone's opinion and i think the CBI won't listen and care to what the economist have to say and write because the CBI is an independent entity and noone can tell the governor of CBI what to do. Unless it is said and written directly by the governor of CBI.

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