Monday Midnight Opinions -CDT - 12/04/2023

[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  Question:  "Are there steps Iraq can take to have the $3.22 rate reinstated?"  Yes.  I'm not saying that they can do it...I'm not saying it's not going to increase in value, I'm saying it's just not going to happen overnight.  We're going to see it continue to increase in increments.  Just give it time.  You're going to start seeing it jump up and just hold on to your dinar.

 

Frank26   On January the 1st of 2024 you [Iraqi citizens] will not be able to use or touch the American dollar in any way, shape or form anymore.  The CBI...will tell you not anymore, come and get your new small category notes and let us introduce you to your new exchange rate...it is now coming IMO...

 

MarkZ  Iraq is being very clear the dinar will be higher than the dollar and no more dollars after Jan 1st…They are telling us everything we need to know. We just need to stay calm.

 

Kaperoni   If Iraq is ever going to raise the value of the dinar there are several things that need to occur first of which requires Iraq to diversify their economy away from oil. To create a private sector, employ their citizens and begin to manufacture, create agriculture etc.  This is an absolute requirement to be self-sufficient. Currently, Iraq Imports about 90% of the goods they need.

 

Sandy Ingram  The Central Bank of Iraq confirmed some Iraqi banks are transferring dollars from their accounts to intermediary banks who are distributing the dollars to their customers.  The Central Bank of Iraq said this will contribute to reducing the exchange rate of the parallel dollar...[We're] thinking this is to keep the black market intact. This means the decision to only use Iraqi dinar in all transactions beginning January 1, 2024 may cause concerns and the Central Bank of Iraq is making moves to control any possible issues.

 

Pimpy   Still today I can't find any news of the so called restrictions removed. No restrictions have been removed yet.

 

Militia Man  Article: "It's time for the Iraqi economy to be linked to the global economic cycle.  Al-Sudani stresses the government's endeavors to achieve an industry that exports its product outside Iraq."  That's exactly what we need.  Everybody knows Iraq has been an import country and they've been using oil as a revenue stream.  Now they're going to go from a rentier oil industry to a non-oil revenue stream country...You have the industrial cities, liquid natural gas, tourism, agriculture...Iraq is filthy with minerals.

 

MarkZ ...today at 4:15 pm the Fed will have a meeting on “FOREIGN EXCHANGE RATES” This does not pop up on their calendar very often but today they are discussing foreign currency exchange rates at the Federal Reserve at 4:15 pm. Could this be what we are looking for?  It’s possible.

 

 

[screwball]

1 hour ago, ronscarpa said:

MarkZ ...today at 4:15 pm the Fed will have a meeting on “FOREIGN EXCHANGE RATES” This does not pop up on their calendar very often but today they are discussing foreign currency exchange rates at the Federal Reserve at 4:15 pm. Could this be what we are looking for?  It’s possible.

Incorrect it’s interest rates! 

[Luigi1]

Thanks Ron.  It's all good news.

Looking forward to Jan, only a few weeks away.

We waited this long...what's a couple more weeks.   Go RV.

[pokerplayer]

1 hour ago, Luigi1 said:

Thanks Ron.  It's all good news.

Looking forward to Jan, only a few weeks away.

We waited this long...what's a couple more weeks.   Go RV.

 

True Dat Luigi1 

 

pp

[NWGUY]

Looking forward to January 1, 2024!