Saturday Late Night Opinions @ 11:35 PM CST - 2/11/2023

[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 

Clare  Article: "The Governor of the Central Bank of Iraq meets with the Vice Chairman of the Board of Directors of JPMorgan Bank" Quote:  "During the meeting, it was agreed that JP Morgan would facilitate payments from the Iraqi banking system to the People's Republic of China to finance private sector imports directly...CBI is committed to applying international standards in anti-money laundering and countering the financing of terrorism (AML/CFT) measures, Al-Allaq said"

 

 

 Pimpy  Everybody's like, 'Hey, Pimpy what do you think the rate's going to be...?' I was thinking they would go back to the original rate which was 1190 dinars for every dollar.  I knew they were gonna go for increments.  It makes sense.  You don't want to do anything to damage your economy...How you protect your economy is to do these in small increments like I was talking about before in the past.  That was my prediction that it would be around 1,000 or 1190 dinars for every dollar.  I was slightly off but not by much.


Paulette  After listening to the last couple bank stories...it appears to me that some banks may actually charge a fee to purchase foreign currency in addition to any "spread"...Based on my personal experience as long as you are purchasing/selling a certain volume most banks do not charge a "FEE". At least those I deal with...Therefore,  I  don't think any of us will be charged a "Fee" at most banks as hopefully our volume will far exceed their requirements even if exchanging a relative minimal amount. [Post 1 of 2]

 

Paulette  What we all need to find is the best rate.  For example, let's say bank A rate is 1.00 USD to 1 IQD and across the street, Bank B rate is 1.01 USD to 1 IQD.  This wouldn't seem like much of a difference right? The reality is that it is $10,000 difference if exchanging 1 Million IQD.  What about if Bank C is at 1.015 ($15,000 difference) or, Bank D is 1.02($20.000 difference) or even Bank E at 1.02550(25,500 difference)?  To me, these are significant amounts...Shop the Rate when it happens..! [Post 2 of 2]

 

Frank26  It's going in the right direction. 1300 to 1? <psh> It ain't got nothing on 100 to 1. <psh> Got nothing on 1 to 1. And that is the goal because they need to reach the REER in an International float.

Walkingstick  The Iraqi Stock Exchange and the Erbil Stock Exchange as of the 28th of January are all linked and in position ready for the float.  It's just not live yet. The Iraqi Stock Exchange and the Erbil Stock Exchange  will be going live internationally the moment the new exchange rate is released.  All the platforms are now linked.

 

2-11-2023   Newshound Guru Henig  Article: "Washington meetings. Meeting between the Governor of the Central Bank and the Director of the IMF" Quote: "the International Monetary Fund continues to provide technical support to the Central Bank of Iraq in various fields."

 

 

[ronscarpa]

Dinar Community Update

 

We learned the sad news that "Fleming" passed away this week.  He's been a part of the dinar community a very long time and will be missed. Thoughts and prayers go out to his family and friends. Rest in Peace Fleming..! 🙏 ✝️😥

 

 

 

Edited February 12, 2023 by ronscarpa
icons added

[screwball]

6 hours ago, ronscarpa said:

The Iraqi Stock Exchange and the Erbil Stock Exchange  will be going live internationally the moment the new exchange rate is released.  All the platforms are now linked.

 

This is guessing at its best…but yes you would think so…haven’t heard back from Al Karmal launching their new app as yet….so I guess they are waiting for the go ahead! Now that’s a guess! 😂

[md11fr8dawg]

8 hours ago, ronscarpa said:

I was slightly off

Yep, you have ALWAYS been slightly OFF!!!

[md11fr8dawg]

Sorry Ron, did not mean you were off. Hope you know that, I just took part of Ole pimpy's comments!!

[Luigi1]

9 hours ago, ronscarpa said:

Frank26  It's going in the right direction. 1300 to 1? <psh> It ain't got nothing on 100 to 1. <psh> Got nothing on 1 to 1. And that is the goal because they need to reach the REER in an International float.

 

We may have to wait until the next quarter to see another exchange rate adjustment & it may possibly be from 1,300 to 1,190.   Keep in mind, CBI is a member of the IMF & must follow the same guidelines, a 2.5% adjustment every quarter.  I hope I'm wrong & it does go directly to a RI.   IMHO.

[hspotman]

1 hour ago, Luigi1 said:

 

We may have to wait until the next quarter to see another exchange rate adjustment & it may possibly be from 1,300 to 1,190.   Keep in mind, CBI is a member of the IMF & must follow the same guidelines, a 2.5% adjustment every quarter.  I hope I'm wrong & it does go directly to a RI.   IMHO.

Unfortunately, exactly right. Looks like Kraperoni may have been right all along too.  Everyone has been guilty of hopium.

[ronscarpa]

2 hours ago, md11fr8dawg said:

Sorry Ron, did not mean you were off. Hope you know that, I just took part of Ole pimpy's comments!!

 

Not a concern my friend - I even gave you a 😄. Flyboys need to stick together.

[Shedagal]

24 minutes ago, hspotman said:

Unfortunately, exactly right. Looks like Kraperoni may have been right all along too.  Everyone has been guilty of hopium.

I remember years ago Adam changed someone's name to Grumpy.  If Adam was active now, you would be a candidate lol.

[hspotman]

1 hour ago, Shedagal said:

I remember years ago Adam changed someone's name to Grumpy.  If Adam was active now, you would be a candidate lol.

I'd rather be called Grumpy, than be called Guru or Gullible.

Edited February 12, 2023 by hspotman

[adlon]

Sorry to hear about Fleming's passing.

 

If this wait which now seems perpetual continues, my obit will be next.

[md11fr8dawg]

5 hours ago, ronscarpa said:

 

Not a concern my friend - I even gave you a 😄. Flyboys need to stick together.

Thanks Brother, right back at you!!