Tuesday Midnight Opinions - CDT - 9/27/2022

[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 

 

 

*** Samson  Article: "The central bank reveals a new denomination of the currency and is working on issuing a digital one" Quote: "Iraq's exit from the European Union's list of high-risk countries gives support to the movement of the economy and the financial and banking sector...It is noteworthy that Iraq owns 7 categories of local currency issued by the Central Bank of Iraq are {250 dinars, 500 dinars, 1000 dinars, 5000 dinars, 10,000 dinars, 25000 dinars, and 50,000 dinars)." [Note:  The new proposed note is a 20K denomination]

 

*** Mark  The chatter coming out of Iraq makes it clear what is happening. Article: “Central Bank of Iraq: We are working on issuing a digital currency and deleting zeros from the dinar requires an atmosphere” Their goal is to change that value...deleting the zeros means the dinar goes up in value so you no longer need the big bills.  …2 years ago they came out with what they called the I-Dinar. This was their pilot program for this and the I-Dinar was to be a gold-backed digital currency. Then you have the polymer notes that represent the digital asset that is backed by gold. They have talked about this at length and now here we are watching it play out in today’s news. This is a big piece of information for us. [post 1 of 2]

*** Mark  You can hang your hat on it that we are very, very close. For those that were panicking and thinking we were not going to go until January…If they are telling you January…they are going to go sooner than that...Remember Kuwait …they came out...and said they were not going to revalue for another 3-6 months…maybe 6-9 months…then they RV’d that very afternoon...we have seen so much in history that we know what they are doing. They are openly talking about a date. You know they have to do it before the dates they are talking about. BAM- that is something to be excited about. [post 2 of 2]

 

*** Mnt Goat  Article: "THE CENTRAL BANK INTENDS TO ISSUE A NEW DENOMINATION OF THE IRAQI CURRENCY" This is one of those WOW articles... This is good news and this is bad news. Why issue a 20,000 dinar note? It does not make any sense unless they are going to use it in place of ever popular the 25,000 note. This is a very good sign they are slowly moving to lower denominations but not fast enough as we want. Why not just follow the economists and go 1:1 and save all this money of a new note? Issue the lower denominations instead. There is talk that this new note may not happen under pressure by the IMF to complete the project to delete the zeros instead and issue the lower denominations.

 

*** Sandy Ingram  Article: "Iraq and the European Union.. Joint program in 5 sectors" The European Union confirmed on funding its quest to achieve decentralization in Iraq...European Union representatives [Barbara Iker]...pointed out Iraq has a huge oil wealth and on the other hand the people in all areas are playing catch up for basic service... Decentralization simply means that there is a substantial sharing of power, authority, financial resources and political support among federal, and local governments.

 

 

[screwball]

59 minutes ago, ronscarpa said:

Mark  You can hang your hat on it that we are very, very close. For those that were panicking and thinking we were not going to go until January…If they are telling you January…they are going to go sooner than that.

Where in the heck does the Jan date come into it? 

[cjdavid]

7 hours ago, screwball said:

Where in the heck does the Jan date come into it? 

Oh Screwie…it’s always January, or December, or June, or….fill in whatever month you want to. 
One day closer though!