Monday Lunchtime Opinions @1:30 PM MDT - 3/20/2023

[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 

 

 

Pimpy  Article: "Iraq Must Not Squander Another Opportunity to Rebuild"  It's the 20th anniversary of our attack on Iraq...20 years since the start of the war, since Iraq has been "liberated"...I like to believe this time around things are going to be different.  I'm not happy about what happened with Sadr bailing out and allowing the coordinated framework to be there but so far the coordinated framework appeared to be doing all the right things.  Let's hope they stay down that path - not for their own sake but for the sake of the Iraqi people...

 

Frank26  It is my opinion you will see an exchange rate about a week before April 1st.  Why would I have have such an opinion?  You don't have the budget. You don't have the exchange rate.  But once you have the exchange rate you can have anything you want in that budget. Do you have the budget?  No. Did they tell you it's coming? Yes.  For 3 years. Did they give you the rate for the budget?  No.

 

 

 

Militia Man   They spent somewhere around $49,429,000 in 2018...on currency issuance.  That would be for the new small category notes and potentially the fils, which are coins...March 17th there was the article that came out about the coins.  It also spoke about the deletion of the zeros.  Those 2 things go hand in hand. Article Quote: "the central bank is the only one responsible for supplying the currency, bank notes and coins to the country of Iraq."  That's the central bank's job.  They did that in 2018...we know they did issue currency to the tune of about just under $50 million worth and they did it for a reason. [Post 1 of 2] 

 

Militia Man  Article Quote: 'The finance committee and the Iraqi parliament calls on the central bank to reintroduce the metal currency.' This was on the 17th - reintroduce metal currency.  Why would you reintroduce metal currency if in fact you're going to come out as they state in the budget - 1300?  Sounds to me from what we've read in the article...they have a caveat that they can amend the budget at any time... Quote:  "small coins facilitate many daily banking transactions as the use of metal denominations and their circulation will give currency a legal value."  So not only do they have value but it's legal..[Post 2 of 2] 

 

 

MarkZ  It is looking like a great week. They are being forced into a corner where they don’t have a choice. One of the...big pieces of news coming out of Iraq is about coins and how they will be “immediately“ usable. The first story broke late Thursday into Friday. Then rumors and more confirmations over the weekend...  Currently the 50 Dinar note is only worth .4 cents or so.  A coin is only worth a fraction of a single dinar. This would make no sense. But we have had some clear indicators out of Iraq that  1. The rate in the budget is now changeable. And, 2. Coins can be used immediately to support the lower denominations. This is really important. Denominations of their coins is similar to our coins in Iraq...them being able to use coins is huge.

 

 

Edited March 20 by ronscarpa

[BETTYBOOP]

I thought the rate in the budget  was 1300 dinars and oil was calculated at some where around 60 dollars? 

[Luigi1]

Lots of articles about the coins coming out.

There has to be a rate change with the coins or they would be worthless.

It will cost more to make the coins than the actual purchasing power.

This may be it.  This may be what we been waiting for.  Go RV.

[BETTYBOOP]

Thanks Ron and luigi

[BETTYBOOP]

I have sat here and have confused myself by overthrowing this... If iraq delete the zeros off the exchange rate  and 25000 idq remains that what is to stop the citizens from keeping a hold off these note and therefore getting rich?

[rvmydinar]

18 hours ago, ronscarpa said:

Frank26  Did they tell you it's coming? Yes.  For 3 YEARS.

Hey frankie boy. Does that mean the dinar holders have to wait until 2025 for the iqd to RV?

[BETTYBOOP]

3 hours ago, rvmydinar said:

Hey frankie boy. Does that mean the dinar holders have to wait until 2025 for the iqd to RV?

I think if you read what Frank said again you might find he is saying that the budget is coming and it is for the next 3 years. Nowhere did he say we need to wait till 2025. What he did state is actually factual. We know they have prepared a budget for the next 3 years. 

However that does not mean that this will happen before 2025... nobody knows when  

[rvmydinar]

11 minutes ago, BETTYBOOP said:

I think if you read what Frank said again you might find he is saying that the budget is coming and it is for the next 3 years. Nowhere did he say we need to wait till 2025. What he did state is actually factual. We know they have prepared a budget for the next 3 years. 

However that does not mean that this will happen before 2025... nobody knows when  

Exactly. you're right noone knows when and we hope it's sooner than we expect it. If the budget is for the next 3 years , what is this supposed to really mean? Will the rate be the same 1,310 for the next 3 years Or will there be a slim rate change only ( for example , from 1,460 to 1,310 ) each year for the next 3 years? This is one million dollar question.

[BETTYBOOP]

There is a post in the news section that talks about it being amendable by Parliament.