Wednesday Night Opinions @ 9:45 PM MDT - 2/14/2024

[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  Question "Just be blunt...Make it simple. If someone holds a million dinars what is the most  one can get from this amount over the next several years?" I've been blunt about this...It depends on how long you hold it. Let's  say it starts to go up in increments like I think it's going to happen, you have to look at your 1 million dinar and think to  yourself, 'Am I going to be happy with the current exchange rate.'  It really depends on when it gets to a rate that you like. As  long as they can stay out of conflict, continue moving forward like they have with reform, getting back in the World Trade  Organization, showing back up on Forex, these things are very important on giving value to the Iraqi dinar. 

 

Militia Man  Iraq has done the things they needed to do to be Article VIII compliant. They're going to  stop the dollar auctions. They're going to have freedom of capital movement...That's going to create investor confidence. And that investor confidence is going to come from the investment law, freedom of capital movement.  

 

Frank26  I don't plan to go to a bank. Can you imagine? ...I got 10 million dinars, here...Personally I don't plan to go into a bank to exchange my currency. I will have a team...I'm going to have my lawyer get a hold of the bank and say, "I represent Mr. [Frank26] and Mrs. [Frank26] and they want to make an appointment for you to come to their house and collect a large amount of foreign currency"...My lawyer will already know exactly what the bank is going to offer me...The less contact I  have with the bank the better...If you have a small amount then you're going probably go into the bank...

 

Kaperoni  If Iraq and the dinar is ever going to rise in value it will be based on Iraq's own economic success and growth of their economy, GDP. Only then can Iraq float the dinar to allow the world to determine its value based on  supply and demand.

 

Fnu Lnu  International attorneys told meWhat would these attorneys know about such things - BS...there would be ten off premises exchange locations allocated by regional population throughout the Nation. I am assuming they are using the 10 United Nations Regions, roughly the same as Federal Regions...I was told...there would be an exchange facility in the most heavily populated city in that region. For instance, Region ten encompasses Washington State and Seattle would be the location for that region...Also, by Off Premises, I mean locations that were NOT inside banks but usually nearby to a participating bank...These are what the unlearned are calling Redemption Centers.

 

Clare  Article: "Economist: The window for selling the currency ends in 2024, and the central bank will devote itself to supervision" Quote: "The Central Bank of Iraq decided to end the currency window process and adopt correspondent banks as an alternative. There will be a new mechanism to provide currency for transfers without returning to the currency window or the electronic platform."

 

MarkZ  Out of Iraq Article: “Finance Committee sets date for 2024 budget tables to reach Parliament” This includes the HCL and funding for regional governments. This is moving forward within 10 days and could be a key piece we are looking for.

 

Pimpy  Don't forget Iraq is on self-imposed sanctions. Until they are cleared and there's no more restrictions over here [In the US] it's not gong to be that easy for you to find a place to exchange your currency.  I'm not saying it's impossible...I reported Chase bank...was one of the banks you can go to...It's not going to be some fancy rate.  It's going to be at whatever the current rate is at the time...

 

Militia Man  When have we seen banks openly talking and expressing, 'We know this is happening.  We're talking about it.'  Oh, yeah, things are going in our direction!