Monday Afternoon Opinions - 5:15 PM CDT - 2/05/2024

[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 

 

 

Pimpy  Article: "8 Iraqi banks banned from participating in the window of buying and selling foreign currency" Eight banks were banned from the currency auctions...My guess is they got caught taking money over to Iran. That's usually what happens.

 

Henig  Reuters Article "Iraq bans 8 local banks from US dollar transactions" Quote: "Iraq has banned eight local commercial banks from engaging in U.S. dollar transactions, taking action to reduce fraud, money laundering and other illegal uses of U.S. currency days after a visit by a top U.S. Treasury official."

 

Samson  Article: ”Document... banning 8 Iraqi banks from participating in the foreign currency buying and selling window"

 

MarkZ  A lot of news coming out of Iraq this weekend. A lot of it about Iraq’s economic prowess. They are now ranked the 7th central bank in buying metals. Think about that. They are not in the G7 or the G20…but they are the 7th largest purchaser of gold bullion. This is amazing.  They also point out that their oil revenues are now surpassing Saudi Arabia in exports to the US. There are a number of articles pointing out how financially secure is Iraq. To me this is a precursor to a change of value in their currency.

 

Frank26  IMO this week they're giving the government of Iraq everything needed to fund the budget.  The Central Bank of Iraq has finished with all its meeting... with all of its meeting with all of the people that are part of the monetary reform.  All of the contracts are also in position, waiting for this to happen as well.

 

Pimpy  I'm sure by now you've heard already the United States is striking more targets...What we don't want to see is things escalating.  There was an emergency meeting called to figure out what it is Iraq wants to do or needs to do.  What we hope is their decision is not to enter into a conflict with the United States.  

 

 

[Luigi1]

Pimpy  Article: "8 Iraqi banks banned from participating in the window of buying and selling foreign currency" Eight banks were banned from the currency auctions...My guess is they got caught taking money over to Iran. That's usually what happens.

 

 

CBI had it's biggest, most successful foreign currency auction, yesterday.

CBI auctions always benefits the corrupt & Iran & never the Iraqi People.

Iraq don't care about US sanctions, anymore...it doesn't matter...they're aligning themselves up with Russia...who cares about US sanctions?   IMHO.

[edbeach]

The US needs to stop the auctions now for the American dollar now. Once they go with the Brics it will probably stop anyway. It appears now we won't see any increase with pending war. I think Iraq been BS us for long time of increaing the dinar They getting along just fine with the ER of 1310. JMHO