Monday Afternoon Opinions @ 4:15 PM MDT - 8/12/2024

[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 

 

 

Clare  Article: "Is “floating the currency” a solution to the crisis of the high dollar in Iraq? A representative explains" Quote: "There are calls to float the exchange rate in Iraq. Floating the currency is a procedure based on liberalizing the exchange rate, leaving it to market factors (supply and demand), to determine its value without any form of intervention by the economic authority. There are two types of floating: the first is absolute floating, and the second type is managed floating, i.e. the type in which the central bank intervenes to direct the exchange rate up or down, as it sees fit to achieve the interests of the national economy."

 

Jeff  The Supreme Judicial Council has decided it's time for the current central bank governor to retire.  Remember this is his second term.  During his first term back in the year of 2018 that's when he printed the new lower smaller category denominations notes with his signature on them.  The only reason they put him back in for a second term was to commission the rate change.  Now they're saying he's going to be forced into retirement.  No retirement date has been provided.