Saturday Opinions - 11/18/2023

[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  Community comment "We don't have to pay taxes on dinar exchange."  Stop that nonsense...how dumb is that.  Where in history of the United States of America have you seen our government say you don't have to pay any tax on any of that?  They'll chase you until Hades to get the taxes they think you owe them.  Don't deceive yourself.  Don't be that way.  That's  part of proper stewardship.  You're going to pay taxes and pay them... [NOTE: Consult your tax professionals at the appropriate time to determinate proper tax for your unique circumstances]

 

Militia Man  They need to have an exchange rate for the HCL.  That's what I see.  That's my opinion.   

 

Jeff  In order for the 2023 budget to be implemented Iraq needed to have publicly posted in the Gazette the budget operating instructions.  They never did that.  That step never happened...Iraq has not implemented its '23 budget that's why they have to resort to financing salaries and have done so since July...If they had an active budget they would not need to  finance.   

 

Walkingstick  Sudani told the Iraqi citizens your currency will soon be the strongest currency in the world not just the Middle East.   

 

Pimpy  Without a doubt these last few months for Iraq have seemed very good.  They're heading in the right direction.  They're doing all the things necessary to be accepted back into the International community. Little by little they're gaining back privileges that they didn't have before.  Before long they'll have their own sovereignty.  We know they are  currently working on the ascension into the World Trade Organization.  We know now their banks are able to do international foreign exchange transfers into the bank and other countries are doing currency swaps with them.  The good news doesn't end there...  

 

MarkZ The big news...is Article: “Parliament convenes Special Session as alliance nominates three successor candidates to Al-Halibousi” The overwhelming agreement is that Halibousi has been a major roadblock especially on the 3 paragraphs of the HCL…the Kurds and Baghdad. So they removed Al Halibousi who was wildly considered to be a roadblock and kept us from getting across the finish line with the HCL law. From my sources I feel very confident that he was the roadblock. It is very encouraging that he was removed and is being replaced. They continue to tell me they want this done by Dec. 1st. Let’s pray and hope this is accurate.

 

Frank26  [Spain Bank Story]  As you know I live in Spain.  Last Friday I went to the Bank of Spain branch in Barcelona.  It's the Central Bank of Spain.  There are only two branches in our country...I showed the man at the counter a 50K dinar bill.  The man looked at me and told me they couldn't change that bill there...but he told me the two banks that will 100% be
involved in exchanging this currency is Banco Santander and BBVA.  They are the two largest banks here in Spain.  They know everything.  He even explained to me the process on how to do the exchange.  He spent time with me, the amount of cash that I could legally withdraw etc. etc.  He knew what bill it was and where it was from.  Here they are paying attention to what is going on, what is going to happen in a very short time.  They're not playing no games in Spain...The banks know about everything.

 

Clare  Article:  "Private banks and exchange companies express their preparations to reduce the exchange rate"  Quote: "Private banks and exchange companies are showing great preparations, collectively and in coordination, to reduce the price of the dollar”

 

Militia Man   "Federal Reserve Bank, German Central Bank, Central Bank of Italy, Central Bank of Spain, People's Bank of China...Kuwait Finance House, Riad Bank, Saudi Arabia, First Abu Dhabi Bank and other leading banks will also attend...the output of these meetings is the publication of...working papers...and how to respond to economic shocks..."  What they're telling us is something's coming...This is the Bank of International Settlements saying we're going to have a document...for how to respond to economic shock in countries...They're warning them they're going to do something.  It's fascinating.

 

Frank26  Once you see the HCL IMO within nanoseconds afterwards you will see the new exchange rate...

 

Mnt Goat   Wednesday intel call to my contact at the CBI:  I was told there was a TV media output broadcast that told the citizens the official rate of the dinar would be over $1 in the coming days.  They used the PM Al-Sudani in a speech like format to explain most of it...This is part of the education process. So, it did begin...I was told that the process of the revaluation is now in motion and they expect to begin issuing the newer lower denominations to the banks in exchange for the larger 3 zero notes...when they do distribute the lower denominations to the public for circulation, they will start at the airports first...they are only going to use dinars exclusively as of January 1st, 2024 in Iraq. This is also why they needed and allowed to let the banks now hold other foreign currencies besides dollars..[Post 1 of 2]

 Mnt Goat  ...Iraq is just moving now to standard protocol in money exchanging. This is such fantastic news. As of January 2024 there will be no more program rate...There will be no more dollars taken by any merchant in Iraq...But what is the timing of the switchover, I asked?  First let me say it is not going to be a sudden switchover all at once, as many of us anticipated. I was told it would be more gradual and has already begun. So, there is no turning back...Based on this latest conversation with my CBI contact, it could be said that they might be planning to RV prior to January...I will tell you I have never received such good information before..[Post 2 of 2]

 

MarkZ  We certainly expect it to go by Dec 1st. The latest chatter I am getting from Iraqi sources is the last 3 paragraphs of the HCL have been 100% completed. And the World Trade Organization Iraq ascension is expected within days. They are feeling very confident with their Dec 1st goal. A number of my sources are still saying before Thanksgiving.  It looks really good.

 

 

Frank26  You want to know the exchange rate of the BRICS because maybe, maybe the Iraqi dinar will be 1 to 1 with a basket of BRICS.  Maybe...one clue.  It's an RI not and RV.  

 

Pimpy  The thing that's disgusting about the Vietnam dong is it appears they are comfortable and content with leaving the rate low...

 

 

[edbeach]

Question:  If they have to abide by what the IMF says, didn't the IMF say only able to increase funds every 90 days at 

rate of 2% then if this the case will take us quite a while to go up in value. Any comments on this ??

[BETTYBOOP]

20 minutes ago, edbeach said:

Question:  If they have to abide by what the IMF says, didn't the IMF say only able to increase funds every 90 days at 

rate of 2% then if this the case will take us quite a while to go up in value. Any comments on this ??

I asked something similar yesterday. Apparently , the 2% only applies to the official rate not the parallel market rate. Now I am assuming that they will be able to free float until it gets to where they would like it and then apply a controlled float. I might also be very wrong. I believe it will climb quickly because if they bring it out over the dollar it will be in high demand. I have seen reports claiming Al Sudani has stated to the people that it will soon be the strongest currency in the world. Whether he said that or not ..... I believe it will be the case

[screwball]

5 hours ago, ronscarpa said:

Walkingstick  Sudani told the Iraqi citizens your currency will soon be the strongest currency in the world not just the Middle East.   

focus

[BETTYBOOP]

I firmly believe that when it hits the fprex , it will skyrocket. As long as it comes out stronger than the dollar to start off, the citizens will use it and the demand will make it fly

[Luigi1]

Frank26  Community comment "We don't have to pay taxes on dinar exchange."  Stop that nonsense...how dumb is that.  Where in history of the United States of America have you seen our government say you don't have to pay any tax on any of that?  They'll chase you until Hades to get the taxes they think you owe them.  Don't deceive yourself.  Don't be that way.  That's  part of proper stewardship.  You're going to pay taxes and pay them... [NOTE: Consult your tax professionals at the appropriate time to determinate proper tax for your unique circumstances]

 

 

How do you know that, Frankie?

Did the IRS personally tell you that?

We won't know for certain until we file taxes the next quarter or year after cash outs.

The country is bankrupt, the banks are dropping like flies, the economy is tanking.

You can count on it...the Feds are licking their chops right now.