Wedesday Afternoon Opinions 5:25 PM CDT - 12/07/2022

[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... So, take everything with a grain of salt... Especially if it comes from Mark...  RON 

 

 

Sandy Ingram  So what would they [Iraq] need to do in order to...increase the value of their currency? One thing they could do would be to create a new currency like Kuwait did and provide a window of time when people could exchange the old Iraqi dinars for the new currency or they could go digital. But where does either of these options leave us as investors? ...Get a valid passport...there are ways you and I will be able to fly into the Middle East..we need to prepare for this option now...

 

Mark  Pressure continues in Iraq as we see more and more local politicians join ranks. We now have well over 100 parliament members and leaders that are pushing for the CBI to make the decision and make it now…before the holidays.  The push because of inflation and the market crunch in Iraq is to do it before the holiday season which is beginning within days over there. Yes it is in the hands of the CBI…parliament is really pushing them to release it before the holidays…and are willing to replace the leader or minister of the CBI in order to do it if that is what it takes…. It is a open conversation over there. I spoke with some contacts on the ground …and they are hearing this as well.

 

Pimpy  I'm not saying it's not going to change come this budget, mostly likely it won't because the Central Bank said this is the rate it's going to be for the next 5 years.  We are now 2 1/2 years into that 5 years.  We'll wee what happens when this budget comes out...

 

Frank26  The Paris Club agreement...paid off 80% of Iraq's debt to the world, then Iraq agreed to re-institute at a 1 to 1 rate at least...they're simply waiting, the Paris Club, for this announcement.  The CBI says they want the rest of the money the Paris Club is holding.  Iraq IMO tried to pull a fast one but the Paris Club said, nope!  No recovered fund returned to you until you change your exchange rate in order to cover the rest of your debts. Not exactly Frankie, Actually there is NO rest of the debts (they were forgiven), but rather the Paris Club countries want to cash in the IQD they received when they cancelled the Iraqi war debt. (it's been said the US received almost 4 trillion IQD). RON  

 

Mnt Goat   One could almost say the news is once again just all about the currency. The pressure builds for the CBI to act now. Over 100 of the parliamentary members claim they will not even attend parliament sessions to vote on the new budget unless this issue is addressed in the budget.  ...These are exciting times and personally I can’t see the CBI holding back this reinstatement much longer….

 

Mark [Q? : Are we anticipating the dinar rate change this week?]  We are anticipating an announcement thereof and possibly a lower sucker rate. This is before the actual RV. The sucker rate is to get many to give up, and cash in at the lower rates, and then go away.

 

 

Edited December 7, 2022 by ronscarpa

[Luigi1]

2 hours ago, ronscarpa said:

Mark [Q? : Are we anticipating the dinar rate change this week?]  We are anticipating an announcement thereof and possibly a lower sucker rate. This is before the actual RV. The sucker rate is to get many to give up, and cash in at the lower rates, and then go away.

 

 

Let's RV-RI.  We can all agree...a sucker rate is better than no rate at all.