Thursday Midnight Opinions - CDT - 3/14/2024

[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 

 

 

MarkZ  If any of you are questioning if this is ever going to happen …I want to give you some reassurance….  Here we are at Thursday and this is the second time this week …directly from the Iraqi Parliament: Article Quote: “Parliamantary Finance and CBI discuss increasing the DINAR and controlling the market”. In other words they need to remove restrictions on the banks and increase the value…that is how they control the market...They are still openly talking about it…again.

 

Militia Man ...If they adjust the exchange rate and delete the zeroes who's going to need the dollar when they apply the new Real Effective Exchange Rate to it?  Nobody is going to need the dollar because the dinar is going to be stronger than the dollar and that's my opinion.  We are in a situation where ...a political crisis...or surprises could change the exchange rate and that could come within hours...

 

Tishwash  Article: "Parliamentary Finance: We look forward to coordinating with the Central Bank to increase the value of the dinar and control the market"

 

MarkZ Question: Anyone heard anything about Iraq going by itself - not all countries? Mark: A person in our community had an interesting conversation. He has a personal relationship with a banker. Quote: "Met for dinner with a banking executive...the banker told me about the basket, or first round is going to be only the Iraqi dinar and the Iranian Rial. He said those countries are gold backed and their internal banking systems are more set up…more so then the others are. The dong should be ready to exchange by late fall...He did not know about the shotgun start and said it will be easier to roll them out piecemeal..." [post 1 of 2]

MarkZ  I take it as a very good sign...It is encouraging to hear an active conversation about it and that it’s going soon...I am still hearing that the majority of the currencies will be going all at once. But, its best to be prepared. Question: if Iraq and Iran go first and alone, I wonder- will the currency still be allowed to float? Mark: I would assume “YES” …I believe all currencies will be allowed to float after this. Because of the underlying asset values. [post 2 of 2]

 

Babysmom  ...THE DINAR RATE OF $1.32 IS WHAT THEY ARE HOPING WILL COME OUT IN IRAQ.

 

 

BGG  Article quote: “The Iraq government is currently weighing the question of changing the currency so that the official cost of a US dollar will be 1.32 Iraqi dinars instead of 1320. Implementing such a decision is likely to significantly increase Al-Sudani’s popularity.” ...The article was published yesterday & I am suspicious of it’s veracity and timing. It always seems to get tossed around during election season.  Furthermore, how they decide to get from 1320:1 to 1.32:1 is another story entirely...Everyone will get all excited, when in reality… even if this is a legit move – it could still go 20 different ways.

 

Mnt Goat   Don’t be discouraged, the currency reform and banking process has come a very long way in a short period of time since January 2023 compared to waiting since 2011, when the plan originated with the IMF on how to turn the currency back on. So we went 11 years with not much progress then suddenly a huge jump which tells us something is up. This alone is all telling...If Iraq is to progress, as they say is their goal, they will need a globally recognized and traded currency once again and get it VERY SOON!

 

 

[NWGUY]

Positive stuff!   This is Friday, and no Monday or Tuesday prediction?   Very strange.  Sounds like the guru's are just waiting now like the rest of us.   No three letter organization predictions, no insider information, no crazy out of the blue date!  Strange way to start a Friday!   Maybe the guru's forgot what day it is?