Tuesday Midnight Opinions - CDT - 4/19/2022

[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 

 

 

** Clare  Question: "Will the IQD be asset backed when there is a change in rate?" YES, BECAUSE IT IS ASSET BACKED ALREADY BECAUSE THE AMOUNT OF WEALTH IRAQ HOLDS IS AMAZING!!! IMO  THE CBI RESERVES ARE VERY HIGH!  COUNTRIES HAVE INVESTED &  CURRENCY SWAPS HAVE TAKEN PLACE... BECAUSE THEY KNOW WHAT IS GOING TO HAPPEN IN  IRAQ!

 

 

** Walkingstick  Question: "Do you think 2 to 1 is enough? Is it possible for them to consider in their recalculations to make it go even higher?" Yes for the fact they are now looking at the introduction of a currency basket not on par with the USD...

 

 

 

** Samson:  Is It Possible To Pass The Budget Of The Caretaker Government Without Final Accounts?  The legal expert, Ali Al-Tamimi, explained the possibility of passing the 2022 budget without final accounts for what preceded it, as well as clarifying the constitutionality of passing the budget by Parliament despite the fact that the government is a daily business. Al-Tamimi told Al-Maalouma, “The House of Representatives has the possibility to ask the caretaker government to send the budget law to Parliament, because this is related to food security, which is one of the government’s first priorities. managing everyday affairs.”

He added that "authorizing the government to send the budget requires a vote of the absolute majority of the number of parliament members, that is, the total number plus one, and that this right is limited only to the budget law only." Al-Tamimi explained, “Sending the budget after authorizing the government to do so must be preceded by the approval of the final accounts of the previous year’s budget in accordance with the Financial Management and Public Debt Law No. 6 of 2019, as this is implemented in accordance with Articles 62, 5 and 61 of the constitution and 12 and 13 of the Financial Management and Public Debt Law. No. 6 of 2019 and Articles 128 to 138 of Parliament’s bylaws.

 

 

[cjdavid]

Ok, I have heard of “currency basket” for some time now. Is this really a thing? I just can’t believe that that sort of thing would exist. I mean why would any country put their sovereign currency in with other countries that could drag yours down? What am I missing?

[ronscarpa]

1 hour ago, cjdavid said:

Ok, I have heard of “currency basket” for some time now. Is this really a thing? I just can’t believe that that sort of thing would exist. I mean why would any country put their sovereign currency in with other countries that could drag yours down? What am I missing?

A currency basket is commonly used by investors to "minimize the risk" of currency fluctuations and also governments when setting the market value of a country’s currency. For more detail Google why there are currency baskets...and what purpose they serve. Then you'll have your answer..!  

[cjdavid]

22 hours ago, ronscarpa said:

A currency basket is commonly used by investors to "minimize the risk" of currency fluctuations and also governments when setting the market value of a country’s currency. For more detail Google why there are currency baskets...and what purpose they serve. Then you'll have your answer..!  

I shall use the Google machine. Thanks Ron