Saturday Night Opinions @ 9:50 PM CDT - 4/20/2024

[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 

 

 

Clare  Article: "Iraq ranks fourth as the best emerging market for investment in 2024” 

 

Militia Man  Article "Al-Sudani receives Washington the Chairman of JP Morgan" Those that say JP Morgan don't know anything about it should read up.

 

Pimpy  Question:"So you're telling me we should sell our dinar because it's about to lose us a lot of money?"  I'm saying we don't know what's going to happen. There's a possibility we can wake up tomorrow and it's 1 to 1 and they haven't deleted the zeros a lot of people are millionaires. There's a possibility we wake up tomorrow and they delete the zeros and we have to exchange it for the new currency and then they change it 1 to 1 and you're not a millionaire.

 

Frank26  [Iraq boots-on-the-ground report] FIREFLY: Some lady is on the television news saying once the delegation returns from the Untied States of American the budget amendment law will be sent to parliament. She's saying one of the issues is about salaries and this will end all issues on salaries for the first time ever once and for all... FRANK: She's correct. When Sudani comes back he will deal with the budget and you will have your new exchange rate because that's the only way that the salaries are going to be paid. They're telling you they're going to be paid for the first time ever. They have never been paid because of a lack of good exchange rate...

 

Clare  Article: "Al-Sudani stresses the necessity of dialogue with the US Treasury, the Federal Bank, and the International Monetary Fund"  Quote: "Al-Sudani stressed that it is not possible to work in any development sector without reform steps for the banking sector, stressing the need to continue dialogue with the US Treasury, the US Federal Reserve, the International Monetary Fund, and other international financial institutions."

 

MarkZ ...Sudani just landed a few hours ago back in Iraq after a very interesting tour in the US. He took questions during a Q&A and was asked about the revaluation of the dinar. He said specifically that yes that was under the auspices of the CBI but we are very much working on that direction. That is paraphrasing and not exact because of the translation. But that is phenomenal news imo.



Militia Man  [Q&A portion of Al-Sudani interview] Question: "Is the government thinking of revaluing the dinar and readjusting the value of the dinar due to the current circumstances in the market or do you see it to stay the same?" Al-Sudani's answer: "This policy is dictated by the central bank and the government abide by what the bank decides.  I believe we are in the best status we could be in and we have actually had an assessment which has given much trust, higher trust at a higher level from different global parties...This is going to raise the level or value of the Iraqi dinar.  There is policy that is consistent policy that the central bank is using..." [Post 1 of 2] (reposted)

 

Militia Man  MILITIA MAN:  Deletion of the zeros project, is that what they're talking about?  If you're going to raise the value of the currency you're going to have to do something to it and that's the exchange rate. You don't just LOP three zeros off a currency and say, 'Snip! Go use this'.  It doesn't work that way. They have to raise the value... We know their reserves are $110 to $112 billion, they have gold, they have all the new electronic systems, taxes and tariffs...tourism, agriculture, liquid gas, all that stuff added into this is going to benefit them. Basically what is he saying? They're going to raise the level of the value of the Iraqi dinar. That's really powerful... Post 2 of 2]

 

Edited April 21 by ronscarpa

[MommaMia]

It appears that it all hinges on the CBI and what they determine/decide upon. I figure if this be the case as stated we will be on a wait state for sometime. Hope not but just my thinking here.  Central Banks do not move fast but at a conservative and cautious pace normally.

[Luigi1]

OK...who's right...Pimple don't know Jack crap...Dr Shabibi said the new lower denoms would exist together for several years & the high denoms would eventually be phased out or destroyed over time.

 

 

 

Pimpy  Question:"So you're telling me we should sell our dinar because it's about to lose us a lot of money?"  I'm saying we don't know what's going to happen. There's a possibility we can wake up tomorrow and it's 1 to 1 and they haven't deleted the zeros a lot of people are millionaires. There's a possibility we wake up tomorrow and they delete the zeros and we have to exchange it for the new currency and then they change it 1 to 1 and you're not a millionaire.

[BETTYBOOP]

Wimpy  Pimpy just needs to **** up. As @Luigi1 said he don't know jack crap

Edited April 21 by BETTYBOOP

[MommaMia]

2 hours ago, Luigi1 said:

OK...who's right...Pimple don't know Jack crap...Dr Shabibi said the new lower denoms would exist together for several years & the high denoms would eventually be phased out or destroyed over time.

 

 

 

Pimpy  Question:"So you're telling me we should sell our dinar because it's about to lose us a lot of money?"  I'm saying we don't know what's going to happen. There's a possibility we can wake up tomorrow and it's 1 to 1 and they haven't deleted the zeros a lot of people are millionaires. There's a possibility we wake up tomorrow and they delete the zeros and we have to exchange it for the new currency and then they change it 1 to 1 and you're not a millionaire.

Right on Luigi1 right on. 

[rvmydinar]

5 hours ago, Luigi1 said:

Pimpy  I'm saying we don't know what's going to happen. There's a possibility we can wake up tomorrow and it's 1 to 1 and they haven't deleted the zeros a lot of people are millionaires. There's a possibility we wake up tomorrow and they delete the zeros and we have to exchange it for the new currency and then they change it 1 to 1 and you're not a millionaire.

Sad but Could be true because there is always " a possibility " for the worst case scenario whether we like it or not. Noone knows for sure and This is beyond our control.

[rvmydinar]

5 hours ago, Luigi1 said:

OK...who's right...

Noone is right , however there is always still " a possibility ". Noone can predict the date and he rate right until that happens.

[Luigi1]

13 minutes ago, rvmydinar said:

Sad but Could be true because there is always " a possibility " for the worst case scenario whether we like it or not. Noone knows for sure and This is beyond our control.

 

Nobody knows until it actually happens...everything else is just Guru talk.

[screwball]

18 hours ago, ronscarpa said:

rate. You don't just LOP three zeros off a currency and say, 'Snip! Go use this'.  It doesn't work that way. They have to raise the value...

Yep…Turkey tried it many times and failed because they never adjust their rate and export shite…many countries have tried it and failed…Removal of zeros must come with rate adjustment…

[Luigi1]

1 hour ago, screwball said:

Yep…Turkey tried it many times and failed because they never adjust their rate and export shite…many countries have tried it and failed…Removal of zeros must come with rate adjustment…

 

Yup.

Turkey had inflation running at 100% a month in the 80s.

 A LOP was all they had to work with.

 

Iraq does not have an inflation problem. 

A much different scenario than Turkey.

Iraq has no desperate reason or need to LOP.