Wednesday Midnight Opinions - 7/26/2023

[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 

 

 

Frank26  [Iraq boots-on-the-ground report] FIREFLY: The CBI is doing a major campaign.  They're telling us on television the CBI says this major campaign is to enhance Iraqi dinar.  Saying all payments, transactions, anything we do in our country will be in dinars and they're telling all banks that are not certified that they must deal in dinars.  This is a big campaign of the monetary reform going on right now about the Iraqi dinar. This is our education. They are saying the CBI has taken steps to enhance the dinar against foreign currencies. FRANK: Darn right!  It's coming!

 

Kaperoni  An exchange rate is a reaction to growth of an economy, not the other way around.

 

Militia Man  Article: "The committee members..." That's a group of people other than Alaq, "ask a number of question regarding the reason for rising exchange rates..." ...What they're asking is what type of solutions do you have... Quote: "The central bank is working with the importance of developing radical solutions to the crisis."  What's a radical solution?  Going from 1460 to 1310 wasn't a radical solution.  Going from 1310 to 1132 which is seriously not a radical solution.  What they're really talking about...a 'radical solution'...going back to a 'previous era'...

 

Walkingstick   Question: "1700 or Chapter VII they are saying to Iraq.  What would you liken that to?"  A wake up call.   They're not going to do it, but they said it, they threatened it.  That draws their attention.  They are not waiting on anything but themselves...they just need to get out of their own way. 

 

Frank26   [Iraq boots-on-the-ground report] FIREFLY: We are seeing 8 more banks hit with sanctions. They are saying the dollar will reach 1700.

 

Pimpy  They need to figure out a way to work with the United States all over again and stop doing things to piss off the US until Iraq is further along with rebuilding infrastructure, building a stable economy and making sure they're opened up new streams of revenue other than just oil sales...

MarkZ  The people have seen the steps the people were told had to be done before they got their rate change and prosperity. The people are growing impatient...The IQD is losing value against the dollar right now. This is costing Iraqis dearly. They are upset. They had been promised a change in rate...Iraq is doing everything it can to get from under America’s thumb. It’s a battle and I believe Iraq is winning. Maybe not as quick as we want them to win though. [post 1 of 2]

MarkZ  Now there is more pressure and the people are taking to the streets and insisting they fulfill those political promises.  This is a good thing for us.  Even them talking about how it’s the US holding things up is a good thing for us. They have a short window...This will erase the debt problems in the Us when they let Iraq finally RV their currency...I believe Iraqis taking to the streets is forcing it…It’s time. [post 2 of 2]

 

Nader From The Mid East  Article Quote: "The Harith Exchange in Baghdad, said, at 11:00 a.m., an exchange rate of IQD 155,200 per [100] US dollar...Dozens of angry protesters are gathered in front of the Central Bank of Iraq building in the middle of Baghdad to protest against the dollar's exchange rate...demanding quick action to reduce the continuing rise of exchange rates."
 

 

 

[MommaMia]

It appears to me that nothing is going to take place until Iraq figures out how to lift and or get around US Sanctions…. So no matter all this talk they have to lift the US Sanctions.  It seems this should be their main goal.

Then again, is there something more out there we don’t know or are privileged to know hindering the RV?

[Luigi1]

Kaperoni  An exchange rate is a reaction to growth of an economy, not the other way around.

 

 

 

The Kaps stated it best & he's spot on...IMHO.

The economy must come before the rate.

 

 

 

[Dinarrock]

39 minutes ago, Luigi1 said:

Kaperoni  An exchange rate is a reaction to growth of an economy, not the other way around.

 

 

 

The Kaps stated it best & he's spot on...IMHO.

The economy must come before the rate.

 

 

 

Kraperoni is clueless since Iraq has one of the largest oil economies on the planet!! They just had another huge article this past week regarding this!! Kraperoni is one of the worst guru know it alls out of all of them IMO!! 

[Luigi1]

31 minutes ago, Dinarrock said:

Kraperoni is clueless since Iraq has one of the largest oil economies on the planet!! They just had another huge article this past week regarding this!! Kraperoni is one of the worst guru know it alls out of all of them IMO!! 

 

Iraq has to get away from dependence totally on oil. 

Plenty of gold & oil helps to sweeten the pot.

It must develop a private sector to create jobs & grow their economy.   IMHO.

[sgtsanders]

I totally understand what Kraperoni is saying and it’s mostly true, fiscally speaking, but he doesn’t even address the fact that the rate of the IQD has been affected by years of war and sanctions. His argument would be plausible if the IQD rate was based on normal circumstances and true value based on Iraqs current economic situation. Don’t preach to me about Iraq needing to diversify it’s economy and reliance on oil as its primary exportable commodity until it’s allowed to have its currency valued fairly based on current economic conditions which should be a heck of a lot better than 150000+ IQD to 100 dollars. Am I wrong for thinking this way? 

[rvmydinar]

4 hours ago, ronscarpa said:

Nader From The Mid East Dozens of angry protesters are gathered in front of the Central Bank of Iraq building in the middle of Baghdad to protest against the dollar's exchange rate...demanding quick action to reduce the continuing rise of exchange rates."

Let's wait and see how long is the protest going to last?? We hope the rate isn't going to rise from 1,310 to 1,190 cause this isn't what we want it.