Friday Latey Morning Opinions @ 11:50 AM MDT - 1/05/2024

[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 

 

 

Walkingstick  All systems for the monetary reform are in place, they're just not linked yet. The uplink is not on yet...Many months ago the CBI told her banks to be prepared to be ready on January 1, 2024 because of all the banking system would be in place before '24...What they're doing right now is they're telling the citizens what they need to hear for the next step of the monetary reform...Once the lower denoms are announced the exchange inside Iraq will move even more quickly. You know how - through a float. Citizens want this movement to occur now. Citizens want their purchasing power.

 

Pimpy  12 to 1 exchange rate. Nobody was speaking about it. I showed an article, their article, not my article, their article saying they were considering the 12 to 1 exchange rate but they would not consider it until...2026. I didn't make it up. I'm just pointing this out in an article...I believe they are going to go up in increments between now and 2026. That's just my opinion.

 

 

[coorslite21]

44 minutes ago, ronscarpa said:

Many months ago the CBI told her banks to be prepared

 

Somehow I doubt many Iraqis, or others in Arab nations, think of their major financial institutions in a feminine manner...    CL 

[NWGUY]

Walkingstick  All systems for the monetary reform are in place

 

 

I am sure that they do have all their systems in place.  Now they have to get someone to make a decision.  That ain't easy in Iraq!   Let's get it going soon, or even in "coming days".

 

 

[BETTYBOOP]

I do actually remember the CBI telling the other banks about this

[yendor]

2 hours ago, ronscarpa said:

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 

 

 

Walkingstick  All systems for the monetary reform are in place, they're just not linked yet. The uplink is not on yet...Many months ago the CBI told her banks to be prepared to be ready on January 1, 2024 because of all the banking system would be in place before '24...What they're doing right now is they're telling the citizens what they need to hear for the next step of the monetary reform...Once the lower denoms are announced the exchange inside Iraq will move even more quickly. You know how - through a float. Citizens want this movement to occur now. Citizens want their purchasing power.

 

Pimpy  12 to 1 exchange rate. Nobody was speaking about it. I showed an article, their article, not my article, their article saying they were considering the 12 to 1 exchange rate but they would not consider it until...2026. I didn't make it up. I'm just pointing this out in an article...I believe they are going to go up in increments between now and 2026. That's just my opinion.

 

 

 

Isn't this what Okie was telling us a couple of years ago?

[GregHi]

5 minutes ago, yendor said:

 

Isn't this what Okie was telling us a couple of years ago?

I don’t know, don’t listen to him at all ever since he said the “Antenna was down and needed to be adjusted for the RV to happen!”.. lol I think that was about 14 years ago.

[screwball]

2 hours ago, ronscarpa said:

showed an article, their article, not my article, their article saying they were considering the 12 to 1 exchange rate but they would not consider it until...2026

Well if they do this will be same as Germany did 10:1 change over will be quick to get people in, this is the marshall plan after all! I have said this from the start that this could happen, we will know very soon

[screwball]

It will happen or not happen, but no small increments if they are planning a big jump and big rate they would have already factored in time frame to change over and rate, they would already know what affect it would have on cash liquidity into the banking system…fractional reserve banking at its best! 

[screwball]

We have until end of April 30 but as Shabs said rate change needs to happen at start of year….

[screwball]

If people are cla I ing there’s way to much cash in circulation happens if they do. 12:1 exchange? Who’s the winner? 

[screwball]

10 minutes ago, screwball said:

If people are cla I ing there’s way to much cash in circulation happens if they do. 12:1 exchange? Who’s the winner? 

Claiming….

[Longtimelurker]

20 minutes ago, screwball said:

We have until end of April 30 but as Shabs said rate change needs to happen at start of year….

 

20 minutes ago, screwball said:

We have until end of April 30 but as Shabs said rate change needs to happen at start of year….

I've seen an ad on YouTube several times in the last week and some unknown guy claimed the USD would be replaced on April 25th.. Im not claiming anything he said is legit just thought the date was interesting. 

[screwball]

3 hours ago, Longtimelurker said:

 

I've seen an ad on YouTube several times in the last week and some unknown guy claimed the USD would be replaced on April 25th.. Im not claiming anything he said is legit just thought the date was interesting. 

Well it’s inline with when they have posted their imf reference rate updates which has almost always been April 30….it’s not that far away….

[screwball]

As “

the change will raise the exchange rate of the Iraqi dinar against foreign currencies while maintaining the stability of inflation

 In the country".

[screwball]

Keeping inflation under check is key

[screwball]

The most appropriate option for the conditions in Iraq as a developing country is to stabilize the exchange rate, both against the dollar or to a basket of currencies, and choosing the appropriate exchange rate because the official exchange rate of the previous $ 3.2 of the dinar was originally overstated and should be chosen exchange rate less may be the price at which the link dinar against Currently the dollar after dividing it into a thousand dollars to 1.125 dinars a good price. 
 

old but good! 😉

[screwball]

 أجنبية (70 في المئة)، وجزئياً بأذونات الخزينة العراقية إذ كان العراق يطبق بقايا نظام قاعدة الذهب. It can be said in answer to the first question that the Iraqi dinar was until 1981 partly covered with gold and foreign currencies (70 percent), and partly because the Iraqi treasury permissions Iraq was applied to the vestiges of the gold standard. ولأجل المحافظة على الغطاء، ظلت الحكومات المتعاقبة تربط سياستها المالية، خصوصاً الإنفاق الجاري والإنفاقالاستثماري في حالة ميزان المدفوعات، أي بمقدار عائدات العراق من الموجودات الأجنبية، خصوصاً عائدات تصدير النفط، باحتياط الذهب. In order to maintain the cover, successive governments have continued to link fiscal policy, especially current expenditure and investment expenditure in the case of balance of payments, an increase of the revenues from Iraqi foreign assets, especially oil export revenues, reserves of gold.

[screwball]

 

Exchange  rate history as per IMF

 

April 29, 2011 0.000527732,  Friday

April 30, 2010 0.000566092, Friday

April 30, 2009 0.000570626, Thursday

April 30, 2008 0.000512352, Wednesday

April 30, 2007 0.000516326, Monday

April 28, 2006 0.000460244, Friday

April 29, 2005 0.000451682, Friday

September 22, 2004 0.000466938, Wednesday

September 08, 2003 2.53758, Monday

April 30, 2002 2.53758, Tuesday

April 30, 2000 2.43852, Sunday

April 30, 1999 2.38074, Friday

April 30, 1998 2.38881, Thursday

April 30, 1997 2.3558, Wednesday

April 30, 1996 2.21848, Tuesday

April 30, 1995 2.04504, Sunday

April 30, 1994 2.26323, Saturday

April 30, 1993 2.26004, Friday

April 30, 1992 2.34852, Thursday

April 30, 1991 2.39924, Tuesday

April 30, 1990 2.46985, Monday

April 28, 1989 2.48283, Friday

April 29, 1988 2.32407, Thursday

April 30, 1987 2.46269, Wednesday

April 30, 1986 2.73556, Tuesday

April 30, 1985 3.24557 , Tuesday

 

 

Between October 15, 2003 and January 15, 2004, the Coalition Provisional Authority issued new Iraqi dinar coins and notes,

 

The IMF as part of the rebuilding of Iraq is monitoring their finances and for this purpose uses a single rate (not a sell/buy) of 1170 dinars per dollar. This "program rate"[5] is used for calculations in the IMF monitoring program and is not a rate imposed on Iraq by the IMF.

[Thief]

13 hours ago, ronscarpa said:

Pimpy  12 to 1 exchange rate. Nobody was speaking about it. I showed an article, their article, not my article, their article saying they were considering the 12 to 1 exchange rate but they would not consider it until...2026. I didn't make it up. I'm just pointing this out in an article...I believe they are going to go up in increments between now and 2026. That's just my opinion.

This is not about exchange rate. 1/12 is the rule for the disbursement of the budget. 

If they have not approve or open their current year budget, they will have to use the 1/12 rule. Meaning they will disburse their monthly commitment based on previous year budget. 

[rvmydinar]

12 hours ago, screwball said:

Well if they do this will be same as Germany did 10:1 change over will be quick to get people in

If Iraq can do 1/10=10 cents, that is not a bad rate. Bring it on.

[BETTYBOOP]

2 hours ago, Thief said:

This is not about exchange rate. 1/12 is the rule for the disbursement of the budget. 

If they have not approve or open their current year budget, they will have to use the 1/12 rule. Meaning they will disburse their monthly commitment based on previous year budget. 

 Completely agree and because they have a budget for 2023, 2024 and 2015 , this does not apply at this time. It may however be applied in 2016 IF THEY DO NOT PASS A BUDGET.. The articleade this clear if the clown ( pimpy) had read it properly and u derstood it. Instead he starts on about 12 /1 exchange rate.

[Dinarrock]

On 1/5/2024 at 1:36 PM, GregHi said:

I don’t know, don’t listen to him at all ever since he said the “Antenna was down and needed to be adjusted for the RV to happen!”.. lol I think that was about 14 years ago.

Hi Greg see you haven’t posted in awhile. Just curious any word from your Iraqi contacts over there as to where we stand??

[Luigi1]

Walkingstick  All systems for the monetary reform are in place, they're just not linked yet. The uplink is not on yet...Many months ago the CBI told her banks to be prepared to be ready on January 1, 2024 because of all the banking system would be in place before '24...What they're doing right now is they're telling the citizens what they need to hear for the next step of the monetary reform...Once the lower denoms are announced the exchange inside Iraq will move even more quickly. You know how - through a float. Citizens want this movement to occur now. Citizens want their purchasing power.

 

 

WS has been saying everything is done & there's nothing else to do for years & years. 

Someday he'll be spot on. 

The citizens want their purchasing power & so do I.  Go RV.

[Luigi1]

On 1/5/2024 at 4:51 PM, screwball said:

We have until end of April 30 but as Shabs said rate change needs to happen at start of year….

 

I'm not absolutely positive on this but I think Iraq goes by the fiscal year calander just as the US does & the fiscal year started back on 1 October.

1 April will then be considered mid-year.

Correct me if I am wrong.

[screwball]

4 hours ago, Luigi1 said:

 

I'm not absolutely positive on this but I think Iraq goes by the fiscal year calander just as the US does & the fiscal year started back on 1 October.

1 April will then be considered mid-year.

Correct me if I am wrong.

April 30 is when they have post the rates every year for about 40 plus years except in sept when they added the zeros….according to my post of rates above only going of dates