Thursday Moning Opinions @ 10:55 AM CDT - 7/07/2022

[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 

 

 

*** Mnt Goat  The news this period coming out of Iraq is all about the formation of the new government...Once again, I am telling you that the CBI is waiting for the government to be formed but it must be a government for the people, by the people...So here we sit and must wait for the government of Iraq to be formed. The outcome of this process will determine the next stage. 

 

*** Breitling  Question "can you give us an update as what you found out concerning the exchange rate range that we might be expecting?"  Between $0.50 and $0.60.

 

From Last Night

 

*** Petra   IMF compliance under Article 8 requires a single currency practice..aka...IQD only for international trade and transfer.  The impact of the change, IMO, cannot be gradual as then at what point is the IQD more attractive to the USD?   We are not only awaiting a rate but also Article 8 "FULL" compliance specifically to their currency play.  So, not sure a gradual rate will work as people need a reason to change and "Shock and Awe" may be what is necessary to get people to change from USD to IQD...

 

*** Mark  Some of the biggest news today in Iraq is finding out the Food Security Law was posted in the Gazette today. This now makes it an official law. Now we see if they move forward. There are many rumors that we could have rates as early as tomorrow morning…but I think that’s premature and  a little early. I am hopeful I am wrong...Things are really ramping up as to what we are hearing...

 

*** Sandy Ingram  Article: "Russia muscles in on Indian oil market at expense of OPEC titans"  This is something I have never seen before - OPEC being openly crossed by one of its own members...Russia is on track this month to send slightly more oil to India than Iraq...the bottom line is Iraq is not able to sell more oil and increase its revenues because Russia is supplying cheaper oil to India...

 

*** Frank26  Article: "Al-Maliki's Coalition:  The 2022 Budget Will Not Go Ahead Without Returning The Price Of The Dollar" Maliki changes his song about the exchange rate because he is a chronic liar! This article is the complete opposite of what he has been saying just to survive in Iraq ...

 

 

[ronscarpa]

Added @ 11:20 AM CDT:

 

*** Tivon ...Gradually reducing as opposed to instantly overnight is not something I'm personally concerned about because how long is this gradual process before purchasing power or parity is established? Is it according to the fluctuations in the market in terms of price stability? Because they have enough hard currency reserves to combat this smoothly. Is it a week? A month? Two months? Starting it in early July is something that should not be overlooked. Because Supply & Demand is what will drive the price. That will come with fluctuations.

 

[Luigi1]

I don't trust Gurus when they come out with a rate even though Breitling's projection is more realistic.

[Fairways&Greens]

Thank you Ron for your tireless efforts. 
 

I agree with what Petra is saying. A gradual increase would not be effective monetary policy with regards to Article 8 compliance. There needs to be an RV and exchange of currency to lower denoms—even if the rate is low, say .10 or something. That would be enough to give the public confidence in the Dinar enough to dump the dollar and use the Dinar exclusively. AFTER an RV, of course you could float the currency and let it rise and fall with the market. 

[Bob]

.10 is $100,000.00.  on 1 million iqd!  I'll take it right to the bank!!

[Artitech]

To bad not one ounce of this is true! All of this is good for is a big ole belly laugh. These Iraqi thugs are stealing all of this money by the pallet load! Hopefully by the next window of opportunity in January 2023 we see the so called RV/RI! Praying that they can keep potato head out of the mix!! JMHO 🤠

[rvmydinar]

23 hours ago, ronscarpa said:

*** Breitling  Question "can you give us an update as what you found out concerning the exchange rate range that we might be expecting?"  Between $0.50 and $0.60.

60 cents on 1 million IQD is $600,000 not a bad rate for a starting and Immediately cash out and never look back.

[pokerplayer]

3 hours ago, rvmydinar said:

60 cents on 1 million IQD is $600,000 not a bad rate for a starting and Immediately cash out and never look back.

 

I am so with on that one !! I don't care to ever hear anything remotely about Iraq ever again once I cash out.

 

   pp

[rvmydinar]

21 minutes ago, pokerplayer said:

I don't care to ever hear anything remotely about Iraq ever again once I cash out.

Count me in.

[cranman]

3 hours ago, pokerplayer said:

 

I am so with on that one !! I don't care to ever hear anything remotely about Iraq ever again once I cash out.

 

   pp

I am with  you!