Friday Early Morning Opinions @ 8:55 AM MDT - 6/16/2023

[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  

 

 

Militia Man  Investors do not want to come into Iraq at an official rate of 1310, to not have the freedom of capital movement.  They [GOI and CBI] have been able to create that environment so when they have the process to change the exchange rate it's ready to go in a moment's notice...They don't say what day/what moment but they do tell us they have a specified time frame and that time is of the essences...

 

 

Mnt Goat  I had an interesting conversation with my CBI contact...I was told that the IMF, World Bank and the US Treasury has given the “green light” to reinstate the currency and liberate it back to the foreign currency exchanges A.k.A. FOREX. What does this mean?  This means, as I was told, that they plan to move ahead with the redenomination beginning this week in preparation for FOREX...once they do the “project to delete the zeros” they will first monitor it for inflation for a few days or more. We just don’t know. Yes, they will have to change the rate close to $1USD per dinar inside Iraq first and see what happens. This may go on all next week even so be patient or it may not be so long. 

 

Frank26   Article: "The Iraqi Trade Bank and JPMorgan are discussing the development of banking operations".  CHASE TOLD THE WORLD THE IRAQ DINAR IS A SCAM... NOW THEY TELL THE WORLD IT'S THE GREATEST CURRENCY IN THE WORLD. 

 

MarkZ  Article: “Government movement to fulfill the requirements of iraq’s ascension to the World Trade Organization.” This is enormous.  There is something very important they need to have to be a full member of the WTO…they need an international fully accepted currency.  It is here in print…This means reinstatement or revaluation…not a float.  Iraq is moving quickly. 
 

 

 

[ronscarpa]

Added @ 9:09 AM MDT:

 

Bozo   Article: The Finance Minister to the PM, Mohammed Salih, suggests a gradual decline in the USD exchange rate.  Salih, the financial advisor to the PM suggested on Wednesday, that the ER of the USD would gradually decline with the approval of the Budget Law. He stated "The delays in enacting the Budget Law delayed the increased demand for the USD & the high spending in the Iraq currency by the citizens, merchants & the government. He added "Iraq currently has a good hard currency cash reserves, which are at the highest levels in Iraq history". [Reposted]

[Dretown39]

The article on the WTO is legit. I have to take what Mnt Goat say with a grain of salt. This individual in times past would speak of the RV getting ready to happen and when it didn't he/she would retract their statements. Again hopefully 2023 is our year!

[edbeach]

We don't want to see a delete the zeros that is going to cause a lop. If you take the 25000 & delete 3 zeros we then have 25.00. We not make any money by doing this. Read Pimpy's explanation of deleting the zeros on June 12 .zeros off the exchange rate even Saleh commeted not deleteing off the exchange rate.  I had said this months ago that deleting the zeros first would be a bad move for us. This is just my opinion again of course.

[Luigi1]

41 minutes ago, Dretown39 said:

The article on the WTO is legit. I have to take what Mnt Goat say with a grain of salt. This individual in times past would speak of the RV getting ready to happen and when it didn't he/she would retract their statements. Again hopefully 2023 is our year!

 

Yes.  Her contacts at the CBI & IMF makes me very nervous.

[BETTYBOOP]

Yeah if they delete the zeros from the currency we will be lucky to break even. But at the same time the CBI has stated that the new currency and the 3 zero notes would co exist and the larger notes would be used for interbanking practices as they gather them in. so I Don see how that works if they take the zeros off the currency

[edbeach]

Bettyboop To me this is a concern. I have been wondering this for a long time about this crazy country. As I said I listened to report that Pimpy put out  and he had a article that Saleh had published concerning the deleting the 3 zeros. You might want to go to Pimpys bradcast of 6/12/23 which he explains in detail. I really hope he wrong about this have been in this too long to end up with very little value on this toilet paper money. This makes a lot of sense to me when you delete the zeros I guess time will tell how this plays out 

[BETTYBOOP]

@edbeach... I get where you are coming from . We have all got plans for when this hits. However, all our plans are going down the toilet if they take the zeros off the currency. Like you I have been here a long time and that is the last thing I want. If this goes right for us I can retire at least 15 yrs early. 

Edited June 16, 2023 by BETTYBOOP

[BETTYBOOP]

So ... I have just listened to Pimpys "delete the zeros " video. The reality is NOBODY really knows what they are gonna do. For me pimpy  is in the same league as Mark z Frank and tnt Tony. He makes it very convoluted , which to some might make him sound intelligent. I have to agree with 1 of the commentators on his video who stated that the cbi have said the notes will co exist and that there is no way the countries who are now owed money from Iraq are going to allow then to just lop their currency. Whether the goat is right on timing or not I don't believe J P Morgan and Co are there for a currency to LOP. 

[hspotman]

4 minutes ago, BETTYBOOP said:

So ... I have just listened to Pimpys "delete the zeros " video. The reality is NOBODY really knows what they are gonna do. For me pimpy  is in the same league as Mark z Frank and tnt Tony. He makes it very convoluted , which to some might make him sound intelligent. I have to agree with 1 of the commentators on his video who stated that the cbi have said the notes will co exist and that there is no way the countries who are now owed money from Iraq are going to allow then to just lop their currency. Whether the goat is right on timing or not I don't believe J P Morgan and Co are there for a currency to LOP. 

I hate playing devils advocate, especially when I need this so freaking badly. But why can't the two denominations coexist with a LOP?  I remember on xe.com, when I first got into this, that is said Iraq was planning a redenomination. Then it was said somewhere that 25000 would equal 25. So they would be worth the same amount regardless. At a $1 rate, they would both be equal $25 equivalence.  Same with over here with what we hold. And why can't JP Morgan and Chase be over there now setting things up?  Just because they may LOP their currency, doesn't mean that Iraq still won't be worth a helluvalot.  Please someobody contradict me and debunk everything I am saying.....  I hate feeling like this! 

[BETTYBOOP]

You are right there is nothing that any of us know of for this not to happen. But I have read more in support of an rv than a lip. Not from the gurus. That was when I first got into it but there is nothing to say they haven't changed their minds. 

[edbeach]

Bettyboop Hopefully he wrong about the delete the zeros but have also heard before of this ending up as a lop  25000 to equal 25. What do you think of the report article that Pimpy discussed of what Saleh provided in article of delete the zeros. 

[BETTYBOOP]

@edbeach  like everyone he has his opinion. But in all honesty there is probably only 2 people on the planet who know exactly what they are going to do and when . I don't think 1 of them is the pm's financial advisor. How many times have we seen articles claiming x y or z and realistically they are just that person's opinion

[BETTYBOOP]

Can anybody confirm if my thinking is correct. When Shabbabi was in charge he said the zeros would come off the rate not the notes as taking it off the notes is not a positive move for their economy...? Am I right in thinking this?

[edbeach]

I was in the dinar in 2010 but don't know which way he was talking about on the zeros but he was for the best for his country just like he will not agree to Maliki at the time. Either way people & events change over time. The CBI did say would take up to 5 yrs for increase in value plus money would be good for 10 years. But again things change with new people in charge. So hard to tell what direction  they taking with so many crooks running Iraq. So we will have to wait  &  see how this will play out. Thank you for your responses. 

[BETTYBOOP]

Just thinking out loud bit if they were gonna LOP their currency they could have done it many times over by now

[edbeach]

Yes I have also wondered why for long time as you. So the original plan was keeping the old dinar with the new til the old dinars with 3 zeros are gone. New people new changes I guess

[Luigi1]

2 hours ago, BETTYBOOP said:

Can anybody confirm if my thinking is correct. When Shabbabi was in charge he said the zeros would come off the rate not the notes as taking it off the notes is not a positive move for their economy...? Am I right in thinking this?

 

Confirmed. 

Shabibi indicated in 2012 at an international banking conference in Jackson Hole Wy, the IQD could support up to $14 to the USD. 

This clearly means an RV-RI to the old pre Sadam rate of $3.70 then gradual float from there, up to $14.

This was before Iraq discovered all that gold & more new gas & oil fields.

[BETTYBOOP]

1 minute ago, Luigi1 said:

 

Confirmed. 

Shabibi indicated in 2012 at an international banking conference in Jackson Hole Wy, the IQD could support system" rel="">support up to $14 to the USD. 

This clearly means an RV-RI to the old pre Sadam rate of $3.70 then gradual float from there, up to $14.

This was before Iraq discovered all that gold & more new gas & oil fields.

Thank you @Luigi1  I was beginning to think I was losing the plot. This isn't counting the minerals and precious and semi precious stone mines they have discovered which will gradually add to their GDP. So no real reason to LOP their currency. Additionally, If it is true that other countries hold dinar as well as the likes of trump ... people like him do not make bad investments. If he is holding there is good reason for it. IMHO

[Luigi1]

2 minutes ago, BETTYBOOP said:

Thank you @Luigi1  I was beginning to think I was losing the plot. This isn't counting the minerals and precious and semi precious stone mines they have discovered which will gradually add to their GDP. So no real reason to LOP their currency. Additionally, If it is true that other countries hold dinar as well as the likes of trump ... people like him do not make bad investments. If he is holding there is good reason for it. IMHO

 

All good things comes to those that wait.

[edbeach]

49 minutes ago, Luigi1 said:

 

Confirmed. 

Shabibi indicated in 2012 at an international banking conference in Jackson Hole Wy, the IQD could support system" rel="">support up to $14 to the USD. 

This clearly means an RV-RI to the old pre Sadam rate of $3.70 then gradual float from there, up to $14.

This was before Iraq discovered all that gold & more new gas & oil fields.

Luigi  I remember this conference, not remember how much he said did you have a article on this.  I also remember believe 4-5 yrs ago Iraq announced they had discovered a hugh amount of gold, I had talked to some friends at the time advising this would support the rise to a dollar with this new found wealth. To my knowledge they have not talked about this since, I didn't save a copy of this article. It sure would support the increase of dinar. They were saying a hugh vain of gold at the time. Just more support of their wealth.

[BETTYBOOP]

the high vain was found close to the surface in a Baghdad street. But they have loads of gold seams

[Hockey1]

I remember reading they found diamond deposits too.

[BETTYBOOP]

12 minutes ago, Hockey1 said:

I remember reading they found diamond deposits too.

Yip and precious stones like rubies and emeralds. Plus semi precious stones and precious minerals I think they also found silver

Edited June 16, 2023 by BETTYBOOP

[Luigi1]

42 minutes ago, edbeach said:

Luigi  I remember this conference, not remember how much he said did you have a article on this.  I also remember believe 4-5 yrs ago Iraq announced they had discovered a hugh amount of gold, I had talked to some friends at the time advising this would support system" rel="">support the rise to a dollar with this new found wealth. To my knowledge they have not talked about this since, I didn't save a copy of this article. It sure would support system" rel="">support the increase of dinar. They were saying a hugh vain of gold at the time. Just more support system" rel="">support of their wealth.

 

BlueWolf may have the article.   

He was invited to the conference as a guest & even asked some questions.

I haven't heard a thing about BlueWolf in quite a while.