Thursday Evening Opinions @ 7:55 PM MDT - 12/28/2023

[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  Iraq is not going to be at a pubished rate. They're going to have a real effective exchange rate (REER) coming in the future. That's what our expectations are and that's what the citizens of Iraq's expectations are.

 

Pimpy  The year is winding down.  I would say Iraq did pretty good despite all the BS that's going. We are looking forward to 2024, hopefully with a lot of great news as Iraq continues to move forward to do what's best for the people of Iraq.

 

MarkZ  There seems to be a lot of fear about redemption centers. What I refer to as redemption centers are participating banking institutions. You can call them what you want. These are banking properties with banking personnel trained to handle foreign currency transaction and verify them on-site instead of sending them off somewhere...

 

Nader From The Mid East  I don't believe in redemption center. I don't believe in that. I believe in  banks and exchange offices.  I don't believe in redemption centers.

 

Sandy Ingram  Why are we seeing reports of a meeting with the IMF in Jordan and a meeting with the Department of the Treasury and the US Federal Reserve in Dubai?  ...The meeting with the IMF had to do with the IMF staff team helping the Iraqi authorities reform the banking system...This meeting more than any other tells us Iraq may be preparing to join the global financial network, aka Forex Market...Here's the bottom line.  Iraq has never really been on the Forex market.  These reports IMPLY Iraq is headed in the direction of international currency inclusion while using its own currency for transactions within th country beginning January 1, 2024.

 

MarkZ  Question: What does you gut say Mark? Mark:  My gut feels it will be at the bridge of 2023 to the first of January.

 

Frank26  [Iraq boots-on-the-ground report] FIREFLY: The television is talking about how Iraq and a basket of currencies will help to reduce the dollar rate.  They are already talking about the yuan and rupee... The government is saying we aspire to end the parallel market dollar in the coming days.

 

Walkingstick  They are telling the citizens in the middle of January the IQD exchange rate will finally match the official exchange rate of the CBI.  What is the official exchange rate of the CBI high now?  1310.  Do you think it will stay at 1310?  No.  No matter what the CBI exchange rate is in the middle of January the CBI is saying the market rate and the official exchange rate of the CBI will be the same.  So it could be an RI rate.  Or it could be at 1310...It really doesn't matter what the rate is.  As long as they are the same...

 

Militia Man  We have been watching some of the most fantastic news articles...We can clearly say we have the confidence Iraq is going to be going international...We see evidence of that in a lot of different ways...They're doing things in a big way...The U.N. is saying Iraq has emerged...

 

Pimpy  Iraq has taken the necessary steps to strengthen the Iraqi dinar.  We know there's restrictions on the amount of money Iraq is receiving from the US.  But doing that has put the pressure on parallel market because they don't have enough dollars to trade...on the black market ...causing companies to have to use the official exchange rate instead of trying to be sneaky on the parallel market.  That means they have a stronger Iraqi dinar... Because of that they have more purchasing power... This is why I think as time goes on you're going to see the Iraqi dinar go up in increments.  

 

Frank26  [Iraq boots-on-the-ground report] FIREFLY: They are talking about Fils and what they will mean to us. FRANK: What are fils?  Coins.  Because they're coins [REAL metals] and not fiat [paper currency or numbers on a screen] they are pip incremental increases FIREFLY: They're talking about coins they are going to give us along with the lower denoms.  They're saying the battle with the dollar is soon coming to an end. 

Mnt Goat  ...there is always one news article to grab my attention and stands out from the rest...WOW, WOW, WOW news. It says that the purpose of foreign currency in Iraq is to deal with it outside the [national] economy, so it is not possible to consider the existence of a price in the dollar and a price in the dinar: one rises and the other falls.  No monetary policy can control such a situation...Folks this is just what we have been waiting for so long to hear...This is huge news.  [Post 1  of 2...Reposted]

Mnt Goat  They are finally getting off the sanctioned use of ONLY US dollars for trade outside Iraq.  Yes, they are beginning to act now like they are out of the UN 1991 & 2003 sanctions, that by the way, happened over a year ago. So, yes, it is about time. We all should be jumping for joy and maybe even taking a couple sips (I said just a couple) of that refrigerated champagne… lol.. lol.. lol.  Save the rest for what is coming next and that includes going to the bank. [post 2 of 2]

 

 

[Luigi1]

Looking forward to Jan  2024.   May 2024 be our blessing.

[NWGUY]

Come on Iraq...let's get it together!   We are definitely ready to move on!