Monday Night Opinions @ 10:05 PM CDT - 5/06/2024

[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 

 

 

Kaperoni  Question: "So would the CBI set the initial float rate?" When a country makes a determination to float their currency, the exchange rate is whatever the official rate is at that time. Supply and demand then takes over from there.

 

MarkZ  I did have multiple bankers over the weekend get notified and are beginning training today. They are “Training to handle foreign currency exchanges”.  Boy oh boy, how many times do they need to train them Mark..? (LOL) Some of the currencies mentioned are exactly what we are holding... And they are being trained on them... They need to know the security features on the various bills in order to verify them on site. That is what they are training on... NOW - THIS WEEK-IMMEDIATELY!!!  These are banking people who have never been trained before… these are some of the ones the banks had told them “No, this is never going to happen” and now suddenly the banks come to them and say “You have got to get trained now - this week - immediately”...Gave me a good warm and fuzzy feeling today. What a bunch of .... Mark just can't stop shoveling it..! 

 

Pimpy  If the dinar were to go free floating, that means the rate it will adopt is going to be the one that we see on the parallel market...It all depends on at what value they set to start the free float (usually the official rate), if that's what they decide to do.

 

Paulette   Community Comment: "On May 9th it has been announced that Iraq will become a FULL member of the WTO." Where & when was that announced - I haven't seen it anywhere?  I have not seen where Iraq has participated in the Third Round of negotiations... It took Iraq since 2004 to complete everything assigned in the First Round of negotiations. It was only earlier this year that they completed those requirements. They were given tasks in the Second Rd of Negotiations which they are in process of completing. They may be given tasks in the Third Rd of Negotiations also. The Third Round is scheduled for "mid-year". I believe the only countries that have completed everything for the May 9th Ascension Ceremony are Comoros and East Timor....

 

Frank26  What the budget needs is for parliament to view the amendments that Sudani made, and I pray one of those amendment is a new line item with a new exchange rate. But the rate MUST come from the CBI..! 

 

Walkingstick  The main reason why they're going to float the Iraqi dinar is to build confidence in the country of Iraq. A float brings in these investor that Sudani has been signing left and right. These investors will watch the float and as the float increases they will say to themselves, 'Hey, maybe I should invest in this currency.' ...The float is to build confidence in the country and in the currency of Iraq.

 

Kaperoni   Article: "Al-Rayes: The path of development is the first gateway to sustainable economic advancement"  If and when the Iraqi dinar begins to float, supply and demand based on Iraq's economic success will take over. Only with the success and growth of Iraq's own economy can the dinar go up in value. How fast and the pace are determined by those factors.