Thursday Early Morning Opinions @ 8:20 AM MDT - 6/15/2023

[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  

 

 

Mnt Goat  ...I was told by my CBI contact they must get the budget passed first, then ratified. I am hearing from my CBI contact that it does not have to be in the gazette, but that to get the green light for the reinstatement they need it passed in parliament and ratified. The Kurds must be happy! ...All I can say now is … Get that champagne in the frig!

 

MarkZ  The reports coming out of Iraq…the official rate is around 1310….  So a US dollar officially will buy 1 thousand 310 dinar…well that was true a few days ago.  ...In the “parallel market”  today [Wednesday] …and what they are seeing in the streets...is a rate of 1050…so one US dollar will only buy one thousand and 50 dinar.  This is enormous news and coming from several regions in Iraq. This means it is stabilizing and correcting itself quickly.  How the CBI responds to this will be interesting. That is almost a 10X change in value in 3 days. That is stunning progress out of Iraq.  I have no idea where this clown Mark gets his information from, but here's the latest from Shafaq News:  Our correspondent indicated that the buying and selling prices in exchange shops in the local markets in Baghdad decreased, as the selling price reached 148,000 Iraqi dinars, while the purchase price reached 146,000 dinars for every 100 dollars.

 

  

 

From Midnight Wednesday

 

Frank26  Everybody, everyone, all banks around the world, they're not stupid.  They're not throwing their money in a bottomless pit.  They're throwing it in a county that is about to have a monetary reform explosion and you're seeing the shadow of the monetary reform explosion.  And you know what that shadow is?  The economic reform...the shadow of the economic reform is growing so big...that's why you should feel good, even with a recession looming over Iraq...the United States of America. There is a rescue...

 

Walkingstick  We've told you many times there's an announcement on the [New Iraqi] ATMs to the citizens basically saying, 'Hey, look, these ATMs right now are closed but coming soon you to you Iraqi citizens they will be open to you.'  They are not activated.  They are not turned on as of right now.

 

Kaperoni  Iraq truly cannot become the economy they want until they have created the conditions. This takes work...The passing of the budget to be some significant event for an RV. Not true! Monetary policy is not a random act. Until Iraq diversifies their economy and begins to have significant Improvement in their GDP nothing will happen with the dinar.

 

GameofPatience  Comment "The CBI changes the rate not the HOR"  Iraq's budget is calculated off the currency value. So it's actually a coordinated effort between CBI & GOI. If the rate were to change, it requires the House of Reps to amend the budget changing its figures / calculations.

 

 

[cjdavid]

Well..MarkZ did mention a “parallel market”. So maybe he lives in a “parallel universe “. (Where he gets his info)
Which is not the realville universe!!

[Luigi1]

4 hours ago, ronscarpa said:

Mnt Goat  ...I was told by my CBI contact they must get the budget passed first, then ratified. I am hearing from my CBI contact that it does not have to be in the gazette, but that to get the green light for the reinstatement they need it passed in parliament and ratified. The Kurds must be happy! ...All I can say now is … Get that champagne in the frig!

 

I don't know...Goat.

Even after Al Sudani signs the Budget Law...Parliament still has two weeks to contest it under their Constitution.

After it's published, it's the official law & it's too late to contest it.