Wednesday Night Opinions 10:55 PM CST - 2/01/2023

[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 

 

 

 Frank26   Article: "urgent... Central Bank Governor: We will issue decisions to reduce the dollar and two meetings with the American side within two days"  IMO THE NEW CBI GOV HAS CHANGED THE SPEED OF THE MONETARY REFORM.

 

Sandy Ingram   The new cabinet is forcing stores and institutions to use Point of Sale transactions...POS are exempt from taxes... implementation effective June 1 2023. This sounds like a digital economy to me. Iraq is getting control over transactions and the flow of money. We can only hope this will lead to a higher rate exchange in the future.

 

Nader From The Mid East  [Iraqi TV news report translated] "Muhammad al-Shi'i...The specialists said that Al-Sudani's statement that the dinar is stronger than the dollar implies two things. The first is a prospective decision that may reduce the dollar against the dinar that is less than 146 [1460 ?] and...restore my confidence for the dinar and the issue of dealing with it...As for the second explanation, the Sudanese wants to reduce the demand for the dollar especially with informal dealers who do not go to the window to sell the currency but rather go for a company for exchange companies in the parallel market."

 

 

 And NOW we come to Mark's daily dose of 

 

MarkZ    Nothing negative today…With the bank chatter-A number of sources are saying the meetings in DC are going swimmingly…as they lay out the final groundwork for this. The chatter really has been fantastic. I am hearing positive things on the speed at which they plan on executing our payouts etc… There was fantastic chatter from DC and New York today to get this thing released. Things are very positive that they have pounded out the final arrangements that need to be made...About the rates floating around…they may just be place holders…we don’t know...We have seen $3.70  to $3.90 …the rate that most have reported seeing in $3.81. Hopefully this will be what the people on the ground in Iraq can expect…they deserve it.

 

[Luigi1]

8 hours ago, ronscarpa said:

Nader From The Mid East  [Iraqi TV news report translated] "Muhammad al-Shi'i...The specialists said that Al-Sudani's statement that the dinar is stronger than the dollar implies two things. The first is a prospective decision that may reduce the dollar against the dinar that is less than 146 [1460 ?] and...restore my confidence for the dinar and the issue of dealing with it...As for the second explanation, the Sudanese wants to reduce the demand for the dollar especially with informal dealers who do not go to the window to sell the currency but rather go for a company for exchange companies in the parallel market."

 

 

I may be wrong...Sudani measures to fix the Dollar crisis refers to adjusting the buy-sell street rate spread to 1,460, even.

[hspotman]

9 hours ago, ronscarpa said:

Sandy Ingram   The new cabinet is forcing stores and institutions to use Point of Sale transactions...POS are exempt from taxes... implementation effective June 1 2023. This sounds like a digital economy to me. Iraq is getting control over transactions and the flow of money. We can only hope this will lead to a higher rate exchange in the future.

 

 

 

And there it is...now people are gonna start looking for it to happen in June.  All aboard!...the dinar-cycle is leaving the station.  Get your ticket for another long ride!  Destination unknown...

Edited February 2, 2023 by hspotman