Friday Early Morning Opinions @ 8:45 AM MDT - 3/29/2024

[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  [Iraq boots-on-the-ground report] FIREFLY: My bank guy says the only way they would stop funding the budget and stop everything is to make a rate change in the budget...the new rate will produce excess funds to cover the reform projects...He says when that budget gets done this weekend and if it is amended the rate change will come real close in his opinion... FRANK: I agree 100%...once we see the budget amended and released it will expose a new exchange rate. I don't think that a simple rate of 1 to 1 is what Sudani is looking for anymore.

 

 

Mnt Goat ...it is very significant to collect...dollars stashed in the homes of the citizens. This is the next step. But they told us the CBI would not take this next big step, to collect all this cash, unless they first got the parallel market under control. Now they are telling us it is under control. ...But how will the CBI get all these hordes of cash out of the homes and into the banks? ...Yes, more purchasing power...But how do you get more purchasing power? You must increase the rate of the dinar and I firmly believe this will be next step, and this is coming soon, VERY soon! [Post 1 of 2]

 

Mnt Goat   But slow down cowboy, I did not yet say reinstatement...this is going to be first an in-country revaluation... We don’t actually know the next “program” rate revaluation from 1320, but we do know with certainly it must be over a dollar.  How much over to give enough incentive to turn in the dollars, we don’t know. ... We are not going to exchange at this rate anyhow. Later, after the reinstatement, If you live in the U.S. you will get the U.S. rate, if in Canada you will get the Canadian rate or if you live in the EU you will get the European rate.  I'm  told it will be significantly higher than the initial in-country rate by the time we see it and go to the bank..[Post 2 of 2]

 

 

[rvmydinar]

12 minutes ago, ronscarpa said:

Mnt Goat ...this is going to be first an in-country revaluation...

 🤦‍♂️who said about in-country RV Goat? Don't iraqi citizens only trade old dinar for a new lower denoms with higher purchasing power?

[NWGUY]

He says when that budget gets done this weekend and if it is amended the rate change will come real close in his opinion... 

 

 

I am off all weekend!  Let's get it done!  

[BETTYBOOP]

I have just read MG latest newsletter. It is probably the most sensible thing I have read about this night mare in a long time. I am not saying I believe everything  she has said but it makes way better sense than any the rest of them at the minute

[cjdavid]

How in this great big screwed up world, can any countries money, traded internationally, have different values in different countries? Now I am not the brightest bulb on the tree when it comes to international monetary tradings, so I would like to know for real if this is even possible. And I realize there will be different bank fees in different areas. Is it based off the strength of ones country? Which I get. Help me out here. 

[BETTYBOOP]

@cjdavid  think about it. The dinar is presently 1310 approximately  against the dollar. But it is somewhere around 1675 against the British pound. Every country has an exchange.rate against any other currency in the world , depending on the strength of that currency. That is all the goat is saying. if you come to the UK do you get a 1 to 1 exchange No you don't  If convert gbp to iqd I get a different rat to what ypu would get for the usd.

[cjdavid]

Alright. I read it as the big picture. That the dinar would have different numbers. But not that each country has their own value of money. Thanks Betty

[md11fr8dawg]

The exchange rate of the dollar to other countries' currency is different. If the IDQ exchanged at 1 to 1 with the USD, then that 1 IDQ would equal X GBP which would be equivalent to the USD/GBP rate, if that makes any sense.