Wednesday Afternoon Opinions 5:50 PM CST - 2/22/2023

[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 

 

 

Militiaman  2023 budget which is scheduled possibly for as early as Thursday.  It's coming together because they're [HCL, budget, etc] all exchange rate oriented.  If they're on the Swift system and they have calculated a new exchange rate and that needs to be put into the spreadsheet to populate it to get to facilitate/get this going - it's possible that could be happening in a very short period of time...everything to me is powerful.  I'm very excited.

 

Pimpy  Obviously the currency exchange rate is on the minds of the people from Iraq as well as the United States and they're saying that they're putting 'mechanisms' in there and that people in Iraq will feel the difference in the near future.  If they're not doing it now then they're going to do it later on in the very near future most likely by the time the next budget comes out.

 

Frank26  Article: "The Chairman of the Investment Authority directs the adoption of the dinar in the payment of dues for housing projects"   EVERYTHING IN IRAQ IS NOW DONE IN DINARS ONLY, FOR THE  MONETARY REFORM!

 

Samson  Article: "The Investment Authority directs the adoption of the Iraqi dinar in the payment of dues for housing projects".  Ready for Adjustment to come.

 

MarkZ  The news from Iraq has just been awesome…Article: ”The central bank of Iraq announces the second package of facilities to obtain foreign currency” What they are doing is making certain that exchanges are all done through official channels and the de-dollarization continues...They are making their system 100% prepared...It appears that everything is in place to change the value of the dinar substantially.

 

Pimpy  There's no doubt there's all kinds of activity happening over there in Iraq...the focus has been on Iraq, their politics, their banking system, the exchange rate and that talk still continues today.  It's exciting because we haven't seen so much chatter about the Iraqi dinar exchange rate...

 

Frank26  This week that we're in right now is really going to set the stage. If we see the budget law passed, oh my goodness!  If we see HCL actually announced and being locked into the accounts at the banks, oh my goodness.  If we see 1300 to to 1190 or 1000, oh my gosh...

 

Mnt Goat   The news from Iraq this period is all very good and moving in the direction that we could possibly see the reinstatement soon. I do not have a date sorry!  All these efforts they are now taking for electronic banking, Point of Sale, electric grid, 2023 budget, etc. projects are all part of the equation leading Iraq’s monetary system to where it needs to go... just relax and let the process work its way through...

 

 

[ronscarpa]

Considering all that seems to be going on and being said by Iraqi officials - I repeat My Opinion, the CBI needs to come out at a significant rate. At 1310 IQD/USD the rate is 1 IQD = $0.0007633. Drop the 3 Zero's and you have a rate of $0.7633 (76 1/3 cents) - in my mind that would be a minimum start. Then let it float to $1, then upwards over time. This makes sense to me. The big question is, will the IMF permit it..? I'm hoping so...! What do you all think..?? 

RON  

[JonnyV]

Much higher Ron.  The country will be bought up.  Plus, Iraqi politicians have huge egos.  I bet they want to come in close to $5.00 but the US is probably telling them around $3.00.   We will see soon enough but I’m definitely saying at least $2.50 

[screwball]

27 minutes ago, ronscarpa said:

Considering all that seems to be going on and being said by Iraqi officials - I repeat My Opinion, the CBI needs to come out at a significant rate. At 1310 IQD/USD the rate is 1 IQD = $0.0007633. Drop the 3 Zero's and you have a rate of $0.7633 (76 1/3 cents) - in my mind that would be a minimum start. Then let it float to $1, then upwards over time. This makes sense to me. The big question is, will the IMF permit it..? I'm hoping so...! What do you all think..?? 

RON  

I think iraq will do what it wants...iraq has options...who would have thought that would now trade in yuan.....?? the IMF has clearly let them do this...

[screwball]

1 minute ago, JonnyV said:

Much higher Ron.  The country will be bought up.  Plus, Iraqi politicians have huge egos.  I bet they want to come in close to $5.00 but the US is probably telling them around $3.00.   We will see soon enough but I’m definitely saying at least $2.50 

i think so but dont want to be a pumper or scammer 🤣

[screwball]

i think it will need to pass budget and oil law before any higher rate

[screwball]

34 minutes ago, ronscarpa said:

At 1310 IQD/USD the rate is 1 IQD = $0.0007633. Drop the 3 Zero's and you have a rate of $0.7633 (76 1/3 cents)

👏

[Luigi1]

IMHO, there is still some work ahead before we can see this RV.   Many laws must be enacted & passed protecting the foreign investors.  The investors will not come without some protections in place.

[hspotman]

1 hour ago, ronscarpa said:

Considering all that seems to be going on and being said by Iraqi officials - I repeat My Opinion, the CBI needs to come out at a significant rate. At 1310 IQD/USD the rate is 1 IQD = $0.0007633. Drop the 3 Zero's and you have a rate of $0.7633 (76 1/3 cents) - in my mind that would be a minimum start. Then let it float to $1, then upwards over time. This makes sense to me. The big question is, will the IMF permit it..? I'm hoping so...! What do you all think..?? 

RON  

I like your thinking Ron....but as always, I fear as always it may be false hope.  I would be all in at .73 cents, and go live my life happily ever after.  I am not greedy. Hell, I need .50 to have a life!

[screwball]

What is investment law no 13 of 2006 Iraq?

 

 

Iraq has adopted many legal and regulatory reforms to encourage foreign investment and move towards a more stable business climate. One such reform, Investment Law 13 of 2006, aims to incentivise foreign investment by granting investors specific privileges, benefits and guarantees.

 

Financial Management law protects oil revenues and investments. oil law and budget just required. and full enactment of FML but this required HCL and Budget also law of Provinces

[screwball]

also Iraq deposit insurance law....done and activated...https://www2.deloitte.com/content/dam/Deloitte/xe/Documents/financial-services/Insurance-regulation-in-iraq.pdf

[BETTYBOOP]

50 p would let me give up work and be comfy. £1. Would let me do a whole lot more for myself , family and the local community

[screwball]

22 hours ago, ronscarpa said:

2023 budget which is scheduled possibly for as early as Thursday.  It's coming together because they're [HCL, budget, etc] all exchange rate oriented.

good thought!

[screwball]

22 hours ago, ronscarpa said:

The news from Iraq this period is all very good and moving in the direction that we could possibly see the reinstatement soon

🙏

[screwball]

remember shabs said $5