Wednesday Mid-Morning Opinions @ 10:10 AM MDT - 6/12/2024

[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: Parliament is saying we're going to pass the investment law.  You're going to see it very soon...

 

Mnt Goat  If you step outside of Iraq, when they finally do reinstate the dinar, the exchange of the three zero notes will exchange to whatever the currency exchange (i.e. FOREX) rate is at the time.

 

Kaperoni   Monetary policy in any country is never a random act or arbitrary decision. It's the result of progress. Until Iraq passes the needed legislation to encourage investment, the dinar will continue to remain weak.

 

 

[Luigi1]

The Goat is full of it.

If the new rate shows up on FOREX everybody gets the same rate in or out of country.

There cannot be a different rate for some & not for others.    IMHO.

[BETTYBOOP]

@Luigi1... I might be wrong here so bare with me. 

The goat has already said that the cbi will move to a 1 to 1 exchange where a 25 k note would be changed out for a 25 note for the Iraqi citizens. Not for us. 

Now they might move the rate again to just over the dollar and that gives them purchasing power. right? At that point they will hold back going to the forex, monitor for inflation and then reinstate to what ever rate they decide to the forex. She is not actually claiming 2 different rates. What do they do now? they can change the rate but has it hit the forex yet? No. so they can do that again. When it hits the forex everybody inside or out side iraq will get the same rate. Giving the Iraqi citizens even more purchasing power. but they will not be millionaires. We on the other hand may well be.

Edited June 12, 2024 by BETTYBOOP

[NWGUY]

I like your optimism BB...That is exactly the way I see it.  It will hit the Forex, and everyone gets the same rate, less exchange fee's.  Also, let us not forget about our favorite government taxes.  

[Luigi1]

4 hours ago, BETTYBOOP said:

@Luigi1... I might be wrong here so bare with me. 

The goat has already said that the cbi will move to a 1 to 1 exchange where a 25 k note would be changed out for a 25 note for the Iraqi citizens. Not for us. 

Now they might move the rate again to just over the dollar and that gives them purchasing power. right? At that point they will hold back going to the forex, monitor for inflation and then reinstate to what ever rate they decide to the forex. She is not actually claiming 2 different rates. What do they do now? they can change the rate but has it hit the forex yet? No. so they can do that again. When it hits the forex everybody inside or out side iraq will get the same rate. Giving the Iraqi citizens even more purchasing power. but they will not be millionaires. We on the other hand may well be.

 

I agree, BB...

Iraqis will exchange their IQD for the lower denoms & gain purchasing power.

It's all tad amounts to the very same thing...Purchasing power equals the 3 zeros off the ER for the rest of us.     IMHO.

[screwball]

with the SA USD Petrol Dollar expiring yesterday with no new contract this means oil can be sold in any currency NOT USD. Why is this important because all countries wanting Iraq oil will purchase oil using our traded in dinar! OIL CREDITS!

[JonnyV]

Screwball, correct me if I am wrong but this may be a reason why Iraq wants a low value on their currency because the countries holding Dinar will have to turn in more dinar to get oil as opposed less if it has a higher value.  Resulting in bringing in more Dinar for Iraq to destroy from what was in circulation or being held by the coalition forces and debt forgiving countries. Hope I am way off with this theory. 

[screwball]

9 hours ago, JonnyV said:

Screwball, correct me if I am wrong but this may be a reason why Iraq wants a low value on their currency because the countries holding Dinar will have to turn in more dinar to get oil as opposed less if it has a higher value.  Resulting in bringing in more Dinar for Iraq to destroy from what was in circulation or being held by the coalition forces and debt forgiving countries. Hope I am way off with this theory. 

To be honest who knows what they want all I know what I want is greater than 1:1