Friday Late Night Opinions @ 11:45 PM CST - 2/17/2023

[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....  RON 

 

 

 Pimpy  Iraq is going to have to know how much currency is out there in circulation...the last thing you want to do is increase the rate of the dinar and turn around and enrich a terrorist group...If they're going to do a huge rate change, I'm more than positive you're going to see the redenomination of the Iraqi dinar because it wouldn't make sense to turn around and enrich those very enemies that you're trying to fight against.

 

Sandy Ingram  The IQD rate still does not show 1300 IQD to 1 US dollar.  We are not sure if the 1300 IQD rate is in effect.  However, a rate of 1310 IQD to 1 US dollar shows up on the Central Bank of Iraq's website...

 

MarkZ  From our own US Dept. of State at State.gov…. Statement: “Joint statement on the US-Iraq higher coordinating committee” this is the official statement on the meetings in DC…frameworks, investments etc…We are being told from people within those meetings, or close to those meetings, that more than that was accomplished. Things like new rates that we can expect soon and what we can also expect as to timing…I do not know what that timing is yet but hoping it will leak…

It's amazing that Mark has someone just about everywhere to give him special insight or information on what goes on at these high-level secret meetings..!  RON

 

 

Edited February 18, 2023 by ronscarpa

[BETTYBOOP]

Would a redenomination be bad for us investors?

[hspotman]

8 hours ago, BETTYBOOP said:

Would a redenomination be bad for us investors?

That has always been a difficult question for me to answer too.... On one hand, I have always felt that an rd is what we want with the lower denoms coming out.  On the other hand, if it is a straight rd, then they will have to completely remove the higher notes you would think?  I do remember when I first started this 13+ years ago, xe.com had on their website that Iraq plans to redenominate...yet here we are over a decade later, nothing.  I also remember somewhere or someone saying that 25k would equal 25...which is what we DON'T want!

Edited February 18, 2023 by hspotman

[BETTYBOOP]

I get where you are coming from but also in the past, if I remember correctly, the CBI at one point said the 3 zero notes and the lower denominations would co exist for possibly up to ten years. The 3 zero notes would gradually be removed from general circulation and used for large money transfers within the banking sector. So if the rate was for example $2 dollar to 1 dinar a 25 dinar note would be worth $50 dollars but a 25000 dinar would be worth $50000 dollars. 

[rvmydinar]

6 hours ago, BETTYBOOP said:

I get where you are coming from but also in the past, if I remember correctly, the CBI at one point said the 3 zero notes and the lower denominations would co exist for possibly up to ten years. The 3 zero notes would gradually be removed from general circulation and used for large money transfers within the banking sector. So if the rate was for example $2 dollar to 1 dinar a 25 dinar note would be worth $50 dollars but a 25000 dinar would be worth $50000 dollars. 

However , the only question left is the CBI never mentions whether there are 2 different rates for 3 zero notes and a new lower denoms or just one same rate that is applied to both 3 zero notes and a new lower denoms. Because what the dinar investors want is one same rate that is applied to both 3 zero notes and a new lower denoms. But , we don't know what the CBI is planning to do with the rate.

[BETTYBOOP]

I don't think they can have 2 separate rates. Both the 3 zero note and the lower denims are legal tender and therefore the same rate would apply across the board. 

[screwball]

11 hours ago, BETTYBOOP said:

if I remember correctly, the CBI at one point said the 3 zero notes and the lower denominations would co exist for possibly up to ten years.

Correc articles support that as well as a two year exchange and one article back in 2012 or 2013 that supports 2-3 month exchange…until they do it we won’t know..

[screwball]

Lower denoms and removal from rate three zeros…

[rvmydinar]

5 hours ago, screwball said:

Correc articles support system" rel="">support that as well as a two year exchange and one article back in 2012 or 2013 that supports 2-3 month exchange…until they do it we won’t know..

Does The longest period of exchange ( more than 1 year ) mean redenomination?? On the other hand , does the shortest period of exchange ( less than 1 year ) mean revaluation? 

[rvmydinar]

7 hours ago, BETTYBOOP said:

therefore the same rate would apply across the board. 

Yep. That's what dinar investors want. 

[BETTYBOOP]

1 hour ago, rvmydinar said:

Does The longest period of exchange ( more than 1 year ) mean redenomination?? On the other hand , does the shortest period of exchange ( less than 1 year ) mean revaluation? 

The length of the period of exchange doesn't mean anything. Once they set the rate that's it. The length of time to exchange gives a period for the 3 zero notes to be returned to the bank. After that time the will not be accepted on the streets 

[rvmydinar]

36 minutes ago, BETTYBOOP said:

The length of the period of exchange doesn't mean anything. Once they set the rate that's it. The length of time to exchange gives a period for the 3 zero notes to be returned to the bank. After that time the will not be accepted on the streets 

Agreed.

[hspotman]

20 hours ago, BETTYBOOP said:

I get where you are coming from but also in the past, if I remember correctly, the CBI at one point said the 3 zero notes and the lower denominations would co exist for possibly up to ten years. The 3 zero notes would gradually be removed from general circulation and used for large money transfers within the banking sector. So if the rate was for example $2 dollar to 1 dinar a 25 dinar note would be worth $50 dollars but a 25000 dinar would be worth $50000 dollars. 

Did the CBI actually say these things, or did a guru tell us that the CBI said it???

[hspotman]

7 minutes ago, hspotman said:

Did the CBI actually say these things, or did a guru tell us that the CBI said it???

Actually just read in Screwball's post(

 )  in rumors the answer to my question above...I think.  The only stipulation I have with what it says...is they were supposed to have a new currency in 2013.  Her we are 10 years later, and nothing. 

[BETTYBOOP]

37 minutes ago, hspotman said:

Did the CBI actually say these things, or did a guru tell us that the CBI said it???

No it came from the CBI

[screwball]

7 hours ago, hspotman said:

Actually just read in Screwball's post(

 )  in rumors the answer to my question above...I think.  The only stipulation I have with what it says...is they were supposed to have a new currency in 2013.  Her we are 10 years later, and nothing. 

yes and then mosul happened......2013/2014