Wednesday Morning Opinions @ 11:22 AM MDT - 3/20/2024

[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 

 

 

Militia Man  Oil is anywhere from $88 to $85 right now.  Add in the tax revenues and customs duties and fees at the borders, the tourism you got to see the exchange rate of the Iraqi dinar is not going to be at $0.76.  They're going to have to add that real effective exchange rate to it and that's probably...exactly why they haven't exposed it just yet.  It's a sensitive issue.  They need to keep it close to the chest... They can't go out and tell everyone on the street, 'Hey you know next week your exchange rate is going to be X.'  It doesn't work that way...Eventually they will expose it...

 

Pimpy   [Response to Jeff's budget/ exchange rate posts 3-19-2024 below]  They are going to amend the budget with or without a rate change....Does it make sense for you to release the budget before they increase the exchange rate because then you have to turn around and redo the budget and make all the changes to the budget using the new exchange rate.  So no, it doesn't make sense to release the budget before you change the exchange rate.  You would change the exchange rate then go through and amend all of your budget because the money you've allocated obviously has changed...The suspension of the funds has to do with corruption. The reforms can be activated without changing the rate. They're going to reallocate revenue from oil to help fund all these reforms

 

 

Jeff  Iraq technically does not need to amend the budget if they're not changing their rate. The budget already covers their operating expenses. But they would need surplus funds to cover the reforms. The reforms are contingent upon the rate changing. They can't bring these reform package forward if the rate does not change. The only reason they're amending the budget is because the rate is changing ...The step of amending the budget can happen either before or after the rate changes ... They will probably announce Thursday or Friday as to when they plan to amend the budget, which they'll probably do around this weekend...{Reposted from Midnight}

 

Jeff   One of the major things Iraq has to do before they can revalue the currency is they have to pause all of their money. They have to suspend it. Freeze it. As of Friday both the central bank and the government of Iraq paused and froze all their monies. What does that mean to us? ...By them suspending all of their monies between the central bank and the government that makes this [past] weekend...the first eligible weekend for Iraq to be able to revalue the currency...{Reposted from Lunchtime}

 

[NWGUY]

I really do not think that they need to change their budget.  The rate change will only make a difference in available cash to run the country.  Their budget numbers will be the same.  Of course, like the currency it will adjust automatically, but I don't think they need to change anything.  JMHO  

[BETTYBOOP]

I am inclined to agree @NWGUY. 

[MONTE55]

10 years ago I had a dream. I was looking at my phone in this dream on a ride share app called "sidecar". In the dream I was trying to secure a shift. That ride share company would pay by shifts instead of per ride. Sidecar no longer exists. Back to the dream. So as I was trying to secure a shift I read the following "RV easing up to .78"  That dream was on 4/8/2013 interesting that its the same day as the eclipse we are going to witness next month. Also interesting that recent news says that they want to come out at .76 - just 2 cents difference from my dream. Have a blessed day Y'all

[ronscarpa]

Added @ 12:30 PM MDT:

 

Jeff  This weekend coming up would be the historical anniversary date of when Kuwait reinstated their currency - March 24, 1991