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Wedesday Night Opinions @ 9:45 PM CDT - 9/28/2022


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 

 

 

*** Samson  Article: "Governor: The Central Bank has played a major role in revitalizing the Iraqi economy over the past years"  Quote: "The Governor of the Central Bank, Mustafa Ghaleb Makheef, confirmed...the banking sector in Iraq is looking forward to increasing cooperation with the banking sectors in other countries and exchanging experiences between them in a way that serves both sides"

 

*** Walkingstick  When Iraqi citizens go to a satellite bank here in the United States they will have their three zero notes they will be exchanged for American dollars. They will have a windfall compared to the citizens that live inside of Iraq ...so they're not going to get any new small category notes? Not in the United State. They're going to get American dollars. Q? At the new rate? Yes..! My interpretation of  opening Iraqi banks worldwide is to get as many of the IQD back while the rate is still 1460, before they increase the exchange rate. Think about it - it's a brilliant move, IMHO..! Many people are frustrated and just want to get some of their money back. :tiphat:RON 
 

***  Mark  Article: Iraq’s political class must address “crisis of trust” the PM says”  A key paragraph says  The change in the exchange rate that we conducted in Iraq was one of the most successful alterations and modifications of the national currency exchange rate models in the world. It happened without serious repercussions..." Guys they are telling us they have DONE this...I think they are keeping it from us and under wraps as it rolls through the banking system…curious timing...We could wake up to a whole new world tomorrow. I think Mark is misinterpreting the statement - I believe it was referring to them lowering the exchange rate to 1460:1 over a year ago. We know we are very close no matter what.

 

*** Nader From The Mid East  Nobody's happy about the news from yesterday by the CBI when they come out with this article that they have no intention to change the exchange rate. But I think they're going to change it...they have not choice...they're gonna take all the zeros out.  The 20,000 become 20...

 

*** Kaperoni  Central Bank of Iraq held a forum... They confirmed if they delete the zeros they require a law from Parliament to authorize. This is a clear indication that deleting the zeros is a neutral event LOP. Your interpretation & opinion Kap - but no proof you're right. Traditional monetary policies do not require Parliament authorization. They also announced the imminent launch of a 20,000 dinar note. This could be used to reduce the money supply or is just filling the need in the market since the dinar has been devalued.

 

*** Frank26  [Iraq boots-on-the-ground report] FIREFLY: My bank friend feels the only next step is the training completion to the citizens followed by Iraq returning to the rate of the glory days...it just seems the education on deleting the three zeros is only thing needed to be done. FRANK: That is the first time your bank friend has fully opened up to you...the education to the citizens is crucial and that's what the CBI has been doing all year...he knows as soon as these political issues are over with and Kazemi sits his government, we have a new exchange rate...



*** Pimpy  Article: "The central bank reveals a new denomination of currency and is working on issuing a digital one"  Here's what everybody's making a big hoopla about...Two things for us who have invested into the Iraqi dinar.  I am concerned about the deleting of the zeros.  All that means is that the current value of the currency carries over if they go to a lower denomination.  We don't want that. [Post 1 of 2]

*** Pimpy  My other concern is that it's going to a digital version of the currency...what approach they take on deleting their zeros is going to be very interesting to see...What I think I'm gonna do is look into swapping my 25,000, 50,000 and 10,000 dinars and trying to pick up the 250 dinar...this way if they do the deletion of the zeros I can't imagine it affecting the lower denominations. I might be wrong but we will soon find out. [Post 2 of 2]


9-28-2022   Newshound Guru Samson  Article: "The Central Bank intends to issue a banknote of 20 thousand dinars" Quote: "there is a previous project submitted by the Central Bank regarding the process of deleting zeros, noting that this matter needs to legislate a law and this project requires some amendments, and that the pursuit of this law needs to stabilize the situation in the country and the atmosphere must be provided to accept such transactions."

 

 

:tiphat:

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15 hours ago, ronscarpa said:

*** Walkingstick  When Iraqi citizens go to a satellite bank here in the United States they will have their three zero notes they will be exchanged for American dollars. They will have a windfall compared to the citizens that live inside of Iraq ...so they're not going to get any new small category notes? Not in the United State. They're going to get American dollars. Q? At the new rate? Yes..!  :tiphat:RON 


 

 

Maybe the 1st of Oct, the start of a new fiscal year, will get this show on the road.  GO RV.

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