Monday Lunchtime Opinions @ 1:55 PM CDT - 6/12/2023

[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: "What does JPMorgan's willingness to support Iraqi banks mean?" This is not good...this is like jumping into bed with the devil...What they're trying to do is force Iraq to use U.S. dollars along with anybody else that deals with the IMF or the World Bank...it doesn't mean we won't benefit from it, for those who are invested in the Iraqi dinar, we will.  But I'm thinking more for the Iraqi people.

 

Frank26  The CBI came out and said we have $111 billion dollars in federal reserves...they also said we have 132.7 tons of gold.  So $111 billion in hard cash in foreign currency for their monetary reform and 132.7 tons of gold for their monetary reform.  Uh, no!  It's a lot more than that!!  What they have to support their monetary reform is outstanding.  It's astronomical.  It's huge...the futures are not even calculated in these numbers.  There are untapped assets that are out there right now.

 

MarkZ  Article: “Iraq’s Parliament approves budget, ending dispute over oil revenue sharing with Kurdish region” This is huge. Oil sharing with Kurdish region is the HCL and one of the major steps we have been waiting for...What I am hearing from the streets in Iraq is that they need a day or a couple days for the prices to stabilize…and I should have an update as to what they are saying  “timing wise” soon.  A lot of very positive stuff occurred over this weekend.

 

Nader From The Mid East   After today what is the next step?  The next step is the currency...Forex...so be ready for it...next week is going to be busy.

 

Clare  Question: "Once they announce the Budget completed, does that give us the HCL? or is that a whole separate thing we need to deal with?" THE HCL IS IN THE BUDGET...THERE IS AN ARTICLE ...THAT STATES THAT.  THE BUDGET WILL BUST EVERYTHING WIDE OPEN...

 

Kaperoni  It appears tonight that Iraq Parliament has voted on the budget for the next 3 years. Excellent news.  This new tripartite budget is critical to Iraq diversifying their economy over the next 3 years.  I believe this is how we will see the dinar rise in value as a result of Iraq's diversification away from oil and economic growth.

 

Babysmom  THE BUDGET WAS FINALIZED...IT WAS FINALLY APPROVED...THE FINALIZATION OF THIS BUDGET IS LEGENDARY.  THE BUDGET WILL NOW GO TO THE PRESIDENT OF IRAQ FOR HIS SIGNATURE AND THEN HE WILL SEND IT TO THE GAZETTE TO BE MADE INTO LAW. THE CBI CAN CHANGE THEIR RATE ANYTIME BETWEEN NOW AND THEN...

 

 

 

***** From Sunday Midnight *****

 

 

Militia Man  The world's largest bank is coming into Iraq.  They're doing a digital transformation so they can handle this new growth, reconstruction effort we've been talking about.  We can clearly see it's happening before your eyes.  We should be really pretty pumped about this. 

 

 

Frank26  Question "At this point can the CBI flip the switch?"  At any moment they can flip the switch.  At any moment. 

 

Samson  Article "The House of Representatives held its regular session to complete the vote on the draft financial budget law."

 

Clare  Article "urgent.... Parliament approves the tripartite budget"  WOOHOOOO!!! THE BUDGET IS FORMALLY DONE!  Quote "Article 68 states: This law shall be published in the Official Gazette and implemented as of January 1, 2023."

 

 

[Luigi1]

Thanks Ron.   It sounds like we are close.   Go RV.