Sunday Evening Opinions @ 7:35 PM CDT - 9/18/2022

[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  Article: "The Central Bank of Iraq has three reserves to serve the requirements of monetary stability and development" Quote: "This reserve consists of: Foreign exchange papers...Which is estimated at more than (85) billion dollars.  [2nd] Gold...is in the form of bullion or coins in the vaults of the International Monetary Fund...As for the third reserve, it is the special drawing rights: it is the new reserve and it is used to meet the deficit in the country's traditional reserves and drawing rights are granted to each of the member states of the International Monetary Fund ..." [Post 1 of 2....stay tuned]

 

** Pimpy  Article: "Iraq ranks 47th among the largest economies in the world" This is great news for Iraq but can you imagine had they had a government formed where they be today?  Having a strong economy is a huge part of them revaluing the Iraqi dinar.  The other two steps are still moving forward which is the accumulation of gold and the accumulation of foreign currency access...those will just help strengthen the dinar...congrats to Iraq despite the fact that they're in political chaos and they still manage to do very well economically.  

 

 

[coorslite21]

Thanks Ron... 

[ronscarpa]

Added At 8:24 PM CDT:

 

 

*** Clare  "These rights are used to settle payments between member countries...Therefore, central banks, including Iraq, seek to buy quantities of gold from time to time. The most recent of which is Iraq’s purchase of a new amount of gold, amounting to approximately (34) tons, bringing Iraq’s balance to (134,4)...which made its classification become the fourth Arab and thirty-three globally. This increase is within the framework of a strategy The Central Bank to manage its assets in order to achieve the highest levels of stability..."[Post 2 of 2]

 

 

[dinarham]

  I must confess I hit the wall with my investment in Iraq ,and thought about unloading some of my IQD . Then I recalled the old saying , "When the going gets tough , the tough hang tough , and reap the rewards ". What an ongoing saga of events surrounded  the IQD , like we never could have imagined , pendulum swinging in the wrong direction for years. Hang tough , you crazy diamonds , we will do a crazy amount of good if we ever get rich .