Tuesday Midnight Opinions - CDT - 10/01/2024

[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   Question: "Can you please share some details about why you stated that those in California will have to know what they are doing [when the time comes to exchange]?"  Because you got a bad government there. They go with policies that are illogical let alone indecent. Yeah, California taxes are going to be insane.

 

Militia Man  If you do the math on it, if you drop the three zeros from the exchange rate of the nominal value of the currency.  If the exchange rate is $1 divided by 1310 gets you .0007643 or real close, which is far less than a penny.  If you drop the three zeros off the exchange rate you've done a big service.  You've created value to that currency because if you drop three zeros from the exchange rate that is .76 ...They can then add the Real Effective Exchange Rate based off the non-oil revenue streams...

 

Samson  Article: ”International Finance: The Central Bank of Iraq is a model for developing strategies that serve the development of the banking sector"

 

Walkingstick  Question: "Are the new [Iraqi bank cards] based on the new exchange rate?"  Yes.

 

Jeff  Article: "Iraq presents to the US Treasury date for abandoning the currency auctions"  The auctions will end or be abandoned the day the rate changes.  The rate will change on a Sunday morning.  That's when the currency auctions will end, when the rate changes.  This article's saying the currency auctions will end by year end.  They're talking to US officials...They're just making a generalized statement, saying by year end...So by the end of December...the currency auctions will end meaning the rate would have to change allowing the auctions to end...

 

Frank26   [Iraq boots-on-the-ground report] FIREFLY: There's a lot of good information coming out soon but won't be nothing about the rate yet.  Mr. Sammy [Iraqi bank manager friend] still thinks it will be right after the end of the year when they stop the auctions.

 

Pimpy  Unfortunately it is everywhere.  Protests are happening in Jordan, Turkey, Iraq...For those of us invested in the Iraqi dinar we're definitely paying attention to what's going on over there in Iraq because it could have an effect on the Iraqi dinar if we can't get things calmed down.  We'll keep an eye on it and see what happens...

 

Militia Man   Alaq says we're going to enhance the confidence in the dinar. Remember what Sudani said.  He warned the citizens twice at least, to be careful with your dinar.  Don't get rid of it.  It's going to be stronger.  Openly, the two big guys, Iraq prime minister and Iraq Central Bank governor has told the citizens we're going to bring value.

 

Sandy Ingram  Tensions are soaring in Iraq following the reported death of Hezbollah leader Hassan Nasrallah...Thousands of angry Iraqi demonstrators converged on the US embassy in Baghdad, where they attempted to storm the compound, clashing with security forces armed in riot gear...Their fury has added to the growing unrest in Baghdad, where the situation has become increasingly volatile.  In response to the escalating crisis, security measures have been significantly ramped up in the city's fortified Green Zone, but protests continue to intensify as anger spreads.  The situation remains fluid with heightened fears of further violence.  

 

Frank26  They say that they wanted this monetary reform to be done at the beginning of the year, remember?  Unfortunately no, they weren't ready.  But they sure are ready now.

 

Mnt Goat  Article: “CENTRAL BANK GOVERNOR ANNOUNCES SUCCESS OF DIGITAL TRANSFORMATION PLAN IN IRAQ” ...the CBI has told us just recently that Electronic Banking is an important step in the currency reform and banking process. WOW! WOW! WOW!  I do not think he is saying final success only that there is good success so far; we were told the goal is about 80% of the working citizens. Quote:  “it clearly indicates the success of the digital transformation and electronic payment plan, and the percentage rose from 20 percent a few years ago to 48.5 percent”

 

MarkZ  Article: “KDP Mortgage census to apply article 140 to return displaced Kurds”  This is really big and one of the things we were expecting...

 

 

[hspotman]

7 hours ago, ronscarpa said:

 

Militia Man  If you do the math on it, if you drop the three zeros from the exchange rate of the nominal value of the currency.  If the exchange rate is $1 divided by 1310 gets you .0007643 or real close, which is far less than a penny.  If you drop the three zeros off the exchange rate you've done a big service.  You've created value to that currency because if you drop three zeros from the exchange rate that is .76 ...They can then add the Real Effective Exchange Rate based off the non-oil revenue streams...

I don't know if he just doesn't read them, but the recent articles I've seen have specifically said removing the zeros from the notes.  Is anyone else seeing this too?

[screwball]

16 hours ago, ronscarpa said:

The auctions will end or be abandoned the day the rate changes.

yes i believe so!

[screwball]

16 hours ago, ronscarpa said:

The rate will change on a Sunday morning. 

when did the zeros go on? was it a Sunday?