Wednesday Midnight Opinions - CDT - 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 

 

 

Frank26  Question "Are the Saddam dinars worthless?"  Yeah, they're worthless because they're no longer recognized by anybody. 

 

Pimpy  Think about it.  The current Iraqi dinar of 25,000 dinar - they delete the zeros off, now becomes  25 dinar and then all of a sudden they change the exchange rate from where it is to $3.22 per dinar.  This is good for the Iraqi  people, their purchasing power has changed.  They can get a lot more things bought with their money.  But that doesn't help us  because they lopped the zeros off...so instead of getting a $3.22 rate against a 25000, we're only going to get that $3.22 rate against a 25 dinar.  Instead of getting millions you get thousands...At least be aware that that's possible.

 

Kaperoni  If Iraq is unable to achieve diversity they will have no alternative but to simply just delete the zeros (LOP) which is a neutral event reducing the currency from around 80 trillion to 80 billion dinar. Any exchange rate gain would be minimal as a result.

 

Sandy Ingram  There is absolutely no law against carrying large sums of cash...You can travel with as much money as you want.  However, there is a catch.  If you are entering or leaving the Untied States with more than ten thousand dollars in cash or equivalent, you are required to report it to customs and border protection.  This rule applies whether the cash is in U.S. dollars or in a foreign currency...You need to complete a "FinCen 105 form"...What happens if you don't report more than 10 thousand dollars in cash?  Failure to report can lead to seizure of the money...You may also face criminal charges...Remember these rules...it's always better to be safe than sorry.   

 

Walkingstick  The closer it gets to the reinstatement the more they will tell the citizens concerning the monetary steps...There's nothing like facts being told to the citizens with confidence.

 

Frank26  [Iraq boots-on-the-ground report]  FIREFLY:  When it floats it's going to go up really fast.  The demand is going to be big on our currency...This thing may have the ability to reach $4.25...probably they will cap it out and go back to settle just a little ahead of Kuwait...  FRANK:  I believe Kuwait will allow that to happen as well...Sudani made them happy...

 

MarkZ  Sudani is expressing the need to freeze all electronic transfers….basically freezing all banking and currencies. This is exactly what they would have to do to start the exchange process. I am a firm believer they are doing that to prepare people that the banking system may be funky for a day or two while they flip that switch. There is so much going on. The chatter has gone through the roof in Iraq with Sudani and the Central Banks movements. If only 10% of the people are right – we are within sight of the finish line.

 

 

[NWGUY]

Pimpy  Think about it.  The current Iraqi dinar of 25,000 dinar - they delete the zeros off, now becomes  25 dinar and then all of a sudden they change the exchange rate from where it is to $3.22 per dinar.  This is good for the Iraqi  people, their purchasing power has changed.  They can get a lot more things bought with their money.  But that doesn't help us  because they lopped the zeros off...so instead of getting a $3.22 rate against a 25000, we're only going to get that $3.22 rate against a 25 dinar.  Instead of getting millions you get thousands...At least be aware that that's possible.

 

Iraq has said that both currencies would be used.   Which means that they won't be lopping it.  There is no way in my opinion that they will lop!    

[BETTYBOOP]

1 hour ago, NWGUY said:

Pimpy  Think about it.  The current Iraqi dinar of 25,000 dinar - they delete the zeros off, now becomes  25 dinar and then all of a sudden they change the exchange rate from where it is to $3.22 per dinar.  This is good for the Iraqi  people, their purchasing power has changed.  They can get a lot more things bought with their money.  But that doesn't help us  because they lopped the zeros off...so instead of getting a $3.22 rate against a 25000, we're only going to get that $3.22 rate against a 25 dinar.  Instead of getting millions you get thousands...At least be aware that that's possible.

 

Iraq has said that both currencies would be used.   Which means that they won't be lopping it.  There is no way in my opinion that they will lop!    

They can't lop if both currencies are to co exist. Also if the large notes are to be used in inter banking then if they lopped they would be no use for that.

[NWGUY]

1 hour ago, BETTYBOOP said:

They can't lop if both currencies are to co exist. Also if the large notes are to be used in inter banking then if they lopped they would be no use for that.

 

They have been saying every since I got into this investment, that both notes will co-exist, but I don't think I have ever seen anything from the government on redenomination of the currency.  Normally you see that by the guru's when they think they are translating it to us.  I could be wrong, but again, I don't think anyone at the government is stating redenomination.  

[BETTYBOOP]

@NWGUY  if memory serves it was said by shababi many moons ago but I might be wrong

[hspotman]

1 hour ago, NWGUY said:

 

They have been saying every since I got into this investment, that both notes will co-exist, but I don't think I have ever seen anything from the government on redenomination of the currency.  Normally you see that by the guru's when they think they are translating it to us.  I could be wrong, but again, I don't think anyone at the government is stating redenomination.  

Redenominaton could just be what we are waiting for and want. Redenominating to lower denoms?