Tuesday Evening Opinions - 6:20 PM CST - 2/07/2023

[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 .... Especially if it comes from Mark or RVAlready...  RON 

 

 

Frank26   Articles - What is the theme?  What is the mantra?  What repeats itself over and over and over again?  The Iraqi dinar exchange rate. What has changed is they are saying there will be a rise. There will be a change. They use verbs, adjectives, everything that indicates it's not going to be left at the program rate...

 

Walkingstick  There's no RV...there is an accepted rate...there is no need for an RV...because they have agreed upon an exchange rate to reach via a float.  When they did this they factored in the unknown: 1. Inflation fluctuation...they are going to make adjustments if there's an inflation fluctuation. It's called a float. 2. Oil sale prices mainly for the HCL. 3. Resources of Iraq - tapped and untapped... that's important because that way you can determine where you're going to get the REER and the float. 4. The flow the IQD in a float will be within +/- 3%...the currency will be asset backed by the CBI for the first time. 

 

Pimpy  The hot topic of the year appears like is the dollar exchange rate.  Once again I hear all kinds of flying rumors and I tell you guys just be careful.  Stay grounded and don't get suckered into anything.  It's great to hear all the excitement that Iraq's talking about changing the exchange rate but if you're expecting some huge ridiculous exchange rate you're going to be upset...

 

Frank26  [Iraq boots-on-the-ground report] FIREFLY: The CBI governor is going to meet with the United States Federal Reserve on February 7th about the exchange rate.  All day on television that's all they been talking about, how they have things in place.  They also told us that they're going to arrest smugglers. FRANK: As soon as they are done in Washington DC and return back home things will start to show up.

 

Clare  Article: "The Council of Ministers approves the amendment of the exchange rate of the dollar, equivalent to 1,300 dinars" Quote: "the Council of Ministers approved the decision of the Board of Directors of the Central Bank of Iraq to adjust the exchange rate of the dollar against the dinar, equivalent to 1,300 dinars to one dollar."
 

 

Pimpy  Article: "Advisor to the Prime Minister: The dollar exchange rate will be reduced according to the proposal of the central bank"  When they say 'the dollar exchange rate will be reduced' that's the right direction. You want the dollar to be reduced, not the dinar. Nobody, I mean nobody, knows what that exchange rate is going to be...

 

Nader From The Mid East   This morning the parliament, I don't know what the parliament have to do with the dinar, they're saying they're gonna put it up to 1300.  That's pretty good.  It's not bad.  It's like 15% down [Down is good for dinar holders]. I hope it continues like that, goes down.  I think the float starts already but still not strong enough...you got the news, the dollar it's gonna be...by the end of the week maybe 1300 then we see from there.  It's not bad from 1460 to 1300.  I hope from 1300 to 1000 and then a little less and less and that's how we're gonna go...I think it's gonna be good.  I think we're ready.

 

Breitling  [via BobTheTaxMan]  We received information from CBI of their proposing a change to the rates to Parliament today, the 6th of February. This information is confirmed as it came from the Central Bank of Iraq Media Bureau. We do not have any information pertaining to any specific rate or date, but this information may be an indicator of forward movement on our investment.

 

 

And NOW a word from our resident clowns: 

 

RVAlready  [Word on the street in Iraq is that 1 IQD will be $3.00 USD, time will tell if this is going to be true.]  $3 to $4 seems prevalent in many discussions. A bit too soon to know. We will know shortly enough. 

 

MarkZ  We hear from local markets that the dinar is floating from 17 something down to 15 something…and this week the government says its going down to 13 something. It continues to move in the proper direction now... the government said they are counting on a peg later on this week of around 1300 which is temporary and allows it to find its value...Over the course of this week it has improved its value about 20% but, it’s not what we are looking for... We are still getting great chatter from the banking side of it …And the chatter is still great from Iraq…so not much has changed. There was zero bad news overnight.

 

[utah rock]

I’m out of thank you emoji’s, so I’ll write it instead,  thank you Ron, for bring these tidbits. Like in men in black, there can be some truth found in tabloids. Here’s to hoping we’re closing in on the end of this investment, and about to start new and exciting ones on the other side! Thanks again for you comment to this site, much appreciated!

Go ahead RV… make my day!