Wedesday Late Night Opinions 11:33 PM CST - 12/14/2022

[ronscarpa]

emember, 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 

 

 

Frank26  Question: "I understand that they have 720 trillion dinars in existence how can this quantity be revalued to even 1 to 1 to the American dollar?" You change the physical currency.  Instead of a 25000, you have a 25 note.  But you don't just change the currency.  You also change the exchange rate...You're changing physically the currency but you're changing the rate...

 

Mark  Article Quote: “US IQD rates close higher in Baghdad”  They close at a higher rate in Erbil and Baghdad today.  This is some of the biggest divergence we have seen…. We are starting to see a spread and a push in the markets which will force the CBI to do something.  Will that be to officially repeg the currency? If they don’t they run the risk of letting inflation run...the CBI is prepared and ready..[post 1 of 2]

Mark  I am also hearing from my contacts in the QFS [Quantum Financial System] team. They are looking at a very short window of “This Week” to release. We will see if that pans out.  These are the same group that tells me to “trust the plan” and this group feels the next couple days will be huge...That the green light has officially been given and we are about to see all kinds of craziness kick off.  I am ... hopeful they are accurate..[post 2 of 2] 

 

Clare  Article: "Al-Mandalawi: Quick and decisive measures to stop the rise in the dollar exchange rate" Quote: "To protect citizens and prevent this from being reflected in the Iraqi markets, the measures that will be taken by us and by the prime minister and the central bank will be quick and decisive in stopping the escalation in the dollar exchange rate." 

 

Pimpy  Article: "The Central Bank launches an electronic platform for buying and selling the dollar next month"  This is going to probably alleviate a lot of the corruption involved with the currency auctions.  There's no guarantee...but it should...the more they become updated...the less likely we have of corruption. 

 

 

Breitling  What's Iraq looking at?  They're looking at the markets - where can they get the most customers and that's it. They have two things in front of them. Adding value to their currency and where can they get the most customers. So they're looking at the GP2 and IPEF.  They're looking at 62% of the worlds population that is part of those trade groups and 40% of the world GDP.  They're going to build a policy based on those numbers. That's it.!

 

Mark [Q? : I don’t understand what an RI or RV is.]  A reinstatement would be going back to an original rate…a RV or revaluation would be a rate different than that…and a float is somewhere in between.

 

Kaperoni   The dinar has no restrictions. The banking system remains under IMF Article XIV...Iraq still needs to meet some compliance issues and receive approval from the IMF in order to move to IMF Article VIII...

 

Pimpy  Article: "Parliamentary legal hints at an "emergency" session to approve the 2023 budget" If this thing can somehow get approved by Al-Sadini and then the House of Representative takes a look at it and [if] everybody's pretty happy, you can see an emergency session be called in and people vote on it right away.  The sooner the better...

 

Walkingstick  The new ATMs have the software for the new small category notes.  I don't know if the new small category notes are in it.  But I can guarantee they do have the software for the new small category notes.  That's why they are not online as of yet.  The software for the new small category notes is already programed into these machines and is ready to go active any time. 

 

Clare  Article: "Planning: Al-Sudani issued directives to address the effects of changing the exchange rate of the dollar" Quote:"the Ministry of Planning revealed the issuance of directives from Prime Minister Mohamed Shia Al-Sudani related to addressing the effects of changing the exchange rate of the dollar...the effects of changing the exchange rate are not all negative," stressing that "there is no agreement, whether in the House of Representatives or in the Central Bank, to change the exchange rate" 
 

 

And now a bit of Mark's nonsense:

Mark ...on the forex…we are starting to see some very strange values popping up. Nobody is exchanging…and values have not officially changed…Maybe they are priming the system?  It is not yet what we are looking for. There are some real ping pong games going on with the forex. Makes us wonder “why?”  It appears from the outside looking in…and from conversations from people on the ground in Iraq that the markets are trying to force the CBI to move. At this point I’m confused at what is playing out.  We seem to be watching the de coupling as things start to move…and I was told there would be a “dip” in the dinar right before the revalue. And that is what we are seeing..[post 1 of 2]

Mark ...we are watching exactly what I was told to look for years ago…the crazy back and forth news on values … This weakening of the dinar could be them trying to get more dinar off the streets before coming out with a float. We are trying to make heads or tails out of all of this because we are also seeing on some foreign currency exchanges some crazy values on the dinar…where its worth $6-$7 dollars…to $4 dollars…but nobody is trading it… and we are seeing those rates and fluctuations…on several kinds of currencies…not just Iraq. ...I think they are priming us for value changes…and more than one. This makes me feel a little more warm and fuzzy that maybe Iraq won’t be going alone? They have not changed values yet and we cannot go exchange yet…there is still possibilities of a float..[post 2 of 2] Boy, does he try to cover all the bases...LOL..!

 

 

That's all for today folks. Blessings..! RON 

[hspotman]

8 hours ago, ronscarpa said:

Frank26  Question: "I understand that they have 720 trillion dinars in existence how can this quantity be revalued to even 1 to 1 to the American dollar?" You change the physical currency.  Instead of a 25000, you have a 25 note.  But you don't just change the currency.  You also change the exchange rate...You're changing physically the currency but you're changing the rate...

 

Huh?  Come again Willard?

[Luigi1]

8 hours ago, ronscarpa said:

Mark  I am also hearing from my contacts in the QFS [Quantum Financial System] team. They are looking at a very short window of “This Week” to release. We will see if that pans out.  These are the same group that tells me to “trust the plan” and this group feels the next couple days will be huge...That the green light has officially been given and we are about to see all kinds of craziness kick off.  I am ... hopeful they are accurate..[post 2 of 2] 

 

 

 

Nobody knows the date or rate. 

There is no proof or evidence of a green light to go. 

More than likely if a green light to go is given today, the actual event may not show up until the start of a new fiscal year for accounting purposes. 

IMHO.