Tuesday Morning Opinions @ 11:11 AM MDT - 7/09/2024

[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 

 

 

Militia Man  Article quote: "The fixed exchange rate system in Iraq is based on an international reserves base is the highest in the history of Iraq... Foreign currency covers more than 100% of the total currency issued." Even the trillions, they have enough reserves to do that.  In other words if they change the exchange rate to something that's strong, that reflects the true fundamentals of the country, they shouldn't have any problem. Their model is stable, secure... very little inflation. They've been successful doing this model...

 

Frank26  [Iraq boots-on-the-ground report] FIREFLY: The television was interviewing Sudani and asked him about the reforms and about the progress of the economy. He says we are stronger than ever and all projects are poised.  He says the delete the zeros is still on the table as Iraq moves forward. FRANK: It's encouraging to see Suandi repeat once again the same words. That means you're about to see it. He says the project is still alive. I'm excited that they talked about a fixed rate rate verses a float. They could float at a fixed rate and cap it very quickly. I've got a feeling that's exactly what they're going to do.

 

MarkZ  [Reference Frank26 post 7-8-2024 re: HCL below] I will agree with that. And it certainly matches with some of the news I got from Iraq today. I was told from day one that when we see the HCL… within hours - we will see the new rate.
 

 

[Luigi1]

MarkZ   I was told from day one that when we see the HCL… within hours - we will see the new rate.

 

 

The RV-RI is not in the Budget, HCL or IMF membership.

The RV-RI will be funded through foreign investors coming into Iraq & CBI foreign currency assets.    IMHO.