Tuesday Afternoon Opinions @ 5:50 PM CST - 12/13/2022

[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...  RON 

 

 

Mark  Article: ”Central bank : the cash reserve has reached its highest level in the history of the state.” We are talking even higher then with Saadam Hussein in its hayday… Right now they are sitting on more cash reserves than at any other time in this countries history… They have exceeded $90 billion dollars in US value…and its just sitting there…unused…and ready to roll…. This is one of the few countries in the world whose economies are not “in the hole” so to speak. ...the author Al Yasari is one of those with Sudani that specifically mentions that the change in the exchange value is the best way to help the poor and under performing classes.

 

Paulette   As long as the "restructure" happens and the CBI stands by what they have said in the past and as recently as a few weeks ago that no denominations will be withdrawn and that the 3 zero's will coexist for at least 2 years and upwards of 10 years, we will be very happy when this occurs.

 

Pimpy   Article: "The Central Bank receives the remaining amount from the Kuwait Compensation Fund"  This right here is big news and I mean BIG news.  We know Iraq was released from United Nations Security Council's chapter VII but...they had to finish compensation to Kuwait...looks like the last payment is finally here...That has been satisfied.  This is great news and a major step forward for Iraq in order to be recognized on the international scene and to help remove restrictions off their currency...This is awesome.  This is big.

 

Clare  Article: "The Central Bank receives the remaining amount from the Kuwait Compensation Fund" Quote: "Iraq revealed in 2021 that it had terminated all necessary banking arrangements with the US Federal Reserve Bank to stop the automatic deduction of Kuwait's compensation from Iraqi crude oil export revenues, after paying the full remaining amount of compensation"

 

Frank26  They [Iraq] will reinstitute their currency and then they will reinstate it.  Pretty cool...they are doing this for the world market consumers.  The World Bank and the IMF has made sure they have done this...To reinstitute the currency is what you are seeing but then it's going to float...the float increases the value of the dinar.  That's an RV...

 

Paulette  Article: "The "Finance" expects the Iraqi government's vote on the budget: Parliament's approval of it will take about two months"  this is the perfect scenario!!!!  This is exactly what I posted and is PERFECTLY congruent with what we should all be hopeful.

 

Pimpy   Yes, I hear there's still more chitter-chatter about the exchange rate and yes there's a lot of misinformation still going on out there about the Iraqi dinar...the full exchange rate being reinstated - that's not the case.  The talk...is about them going back to the old rate of 1199 per dollar.  The Hydrocarbon Law - has not been signed...It was agreed upon in 2007 but...the Iraqi Supreme Court struck it down...and they have been renegotiating...The statement that the whole world is pushing/forcing Iraq to change their exchange rate is inaccurate.  Countries don't usually get involved with people's exchange rate unless you're trying to manipulate them and that's not the case with Iraq.

 

*** From Midnight Monday ***

 

 

Frank26   Question: "How close are we?"  We're as close as your dandruff is to your hair...we're as close as your breath is to your lungs.  We are very close in my opinion.  We've been wanting to see the things that we're seeing in print.  That's what puts us in a very positive mood and a good direction.  

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Kaperoni  They're talking about increasing the dollar sales through the auction which will raise the value of the dinar back to what it was a year ago. Around 1170 to $1.

 

Militia Man  Article: "The Iraqi Trade Bank announces the recovery of one trillion and 500 billion dinars" The amount of funds being recovered to Iraq from corruption is staggering in totality. The trillions of dinars being returned will support their exchange rate internationally.

 

Walkingstick  [Walkingstick's Iraqi Bank partner/friend update]  WALKINGSTICK: Have you heard anything about the 20K notes? BANK FRIEND: Yes they were assigned to us last month but there was never a firm commitment on the release of the 20K notes...so far we have no further update concerning the 20k.

 

Paulette  IMSO, "restructuring" and "RI" are two separate events which could occur simultaneously or weeks apart.  For many reasons, I believe it will be weeks apart.  I have always believed that, ideally for the benefit of Iraq, "restructuring" will occur prior to Parliament passing the budget and the "RI" will occur after the Budget becomes law.

 

Mark  I think this one is a key piece for Iraq to be ready for the revaluation… Article: “The Central bank is launching an electronic platform for buying and selling the dollar next month.”  Reading between the lines I think this is an important step if they are going to handle a revaluation of some size to make sure these currencies are not questionable…that someone wont exchange millions in terrorist dollars. AND it will protect the rate for those at the bottom of the economic totem pole. I think this one is a serious “tell” for us and how close we are getting…A lot of phenominal things happened this weekend in Iraq. So I am very upbeat

 

Clare  Article:  "The talk of the exchange rate invades the Iraqi sessions..and the currency auction is the window for whitening the dollar" Quote:  "The talk of the exchange rate of the dollar has become the most prominent one being circulated by Iraqis who are disaffected by the continued escalation of prices."

 

 

 

[screwball]

6 minutes ago, ronscarpa said:

Paulette   As long as the "restructure" happens and the CBI stands by what they have said in the past and as recently as a few weeks ago that no denominations will be withdrawn and that the 3 zero's will coexist for at least 2 years and upwards of 10 years, we will be very happy when this occurs.

correct

 

7 minutes ago, ronscarpa said:

.the author Al Yasari is one of those with Sudani that specifically mentions that the change in the exchange value is the best way to help the poor and under performing classes.

correct

 

7 minutes ago, ronscarpa said:

Kaperoni  They're talking about increasing the dollar sales through the auction which will raise the value of the dinar back to what it was a year ago. Around 1170 to $1.

incorrect use RTGS system

 

7 minutes ago, ronscarpa said:

 The amount of funds being recovered to Iraq from corruption is staggering in totality. The trillions of dinars being returned will support system" rel="">support their exchange rate internationally.

correct

 

8 minutes ago, ronscarpa said:

MSO, "restructuring" and "RI" are two separate events which could occur simultaneously or weeks apart.  For many reasons, I believe it will be weeks apart.  I have always believed that, ideally for the benefit of Iraq, "restructuring" will occur prior to Parliament passing the budget and the "RI" will occur after the Budget becomes law.

possible and plausible

[screwball]

10 minutes ago, ronscarpa said:

Iraq revealed in 2021 that it had terminated all necessary banking arrangements with the US Federal Reserve Bank to stop the automatic deduction of Kuwait's compensation from Iraqi crude oil export revenues, after paying the full remaining amount of compensation"

kuwait and all debts paid

[Fairways&Greens]

Thanks Ron! A lot of buzz around every important indicator. Let it be soon!

[Pepperina]

                     YES……PULEEEAAASSSSEEEE…!!!! 
                         .LET…..IT…..BE  SOON      !!!!!!!!!!!! 
                                               
 

                                

 

 

 

 

[jeepguy]

would finally put the  " i told you so "  in our retirment plans!

( looks from the folks who said " how is that funny money coming ? )

what was the .10 cent value  again for 1 million ?  100,000 ?

[cjdavid]

26 minutes ago, jeepguy said:

would finally put the  " i told you so "  in our retirment plans!

( looks from the folks who said " how is that funny money coming ? )

what was the .10 cent value  again for 1 million ?  100,000 ?

Right there with ya on the I told you. 
I have always thought and still do, that they have to come out 1:1 to get the dollar out of their country. Then maybe, just maybe it will go higher. I believe they want to match Kuwait at some

point. So I want to hold some back for that possibility. 
 

another day closer. 
(seems we always get lots of year end hopium for the past decade and a half that I have been around here)

[hspotman]

45 minutes ago, jeepguy said:

would finally put the  " i told you so "  in our retirment plans!

( looks from the folks who said " how is that funny money coming ? )

what was the .10 cent value  again for 1 million ?  100,000 ?

 

15 minutes ago, cjdavid said:

Right there with ya on the I told you. 
I have always thought and still do, that they have to come out 1:1 to get the dollar out of their country. Then maybe, just maybe it will go higher. I believe they want to match Kuwait at some

point. So I want to hold some back for that possibility. 
 

another day closer. 
(seems we always get lots of year end hopium for the past decade and a half that I have been around here)

Me three....but of course, cant do it UNTIL or if this thing finally happens.....

Then again....I don't know if I would even want them to know this happened?  I don't want people coming to me for handouts because I have it now.

Edited December 14, 2022 by hspotman