Tuesday Midnight Opinions - MDT - 10/08/2024

[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  Everybody knows that Iraq said back in September of 2023, that Iraq was going to be the savior of the international financial system, bring confidence to the financial system in the largest banks in the world. They've been working on this to do what they said they were going to do.

 

MarkZ  Article: “Iraqi Government issues new decisions” Everything in this article that they have just done is screaming REER. (Real Effective Exchange Rate)  And that is what I am hearing from my folks at the Finance Ministry. They believe we are circling close to the rate change.

 

Frank26  A lot of people unfortunately are considering this a lop...You really think they're going to take a pair of scissors and go click, click, click [cutting off zeros from the physical notes]?  What is this...it's got holes in it?  You just cut it all up...No, if they did that it's called a lop...So where does it come off of?  A [physical note] is called a currency. You're not going to take it off the bill...Iraq's exchange rate is .00076981 .  You take the decimal point and you move it over to the right three spaces because that's three zeros and this becomes $0.76 . Got it?  This is purchasing power when you change the exchange rate by lifting 3 zeros. What is the exchange rate right now in Iraq?  1320 .  When they change the exchange rate that will become internally for the Iraqi citizens 1.320

 

Breitling  Right now I don't have confidence in Iraq's economy because what's at stake, what's going on.  Even if they build a minor version of what they want to do [Development Road Project], it's not going to be as big as what they need it to be.  They needed to pick the right side [East or the West], they didn't.  The indicators that they didn't pick    the right side is that Hezbollah and Hamas were going to build their headquarters in Iraq...It doesn't look like they're going to be part of our markets.  They're making bad bad moves right now.  For the first time.  Hezbollah is a shell of what they used to be so we'll see how things work out.

 

MarkZ  Article: “Uncover the features of the 2025 budget schedules” They are hard at work right now letting us know they are working. We are looking for a new value as they do this.

 

Pimpy  When we're trying to judge where the Iraqi dinar is, we're talking about where it is right now.  But wait, there's other things out there that would benefit the Iraq dinar...People wanted to know what I was talking about...The Road and Rail Project would improve the value of the Iraqi dinar.  Iraq has been focusing on improving its infrastructure, particularly in road and rail transportation as part of the broader economic development strategy...The more people are working, the more people got money, the more people that have money, the more people go out and shop, which is exactly what Iraq needs to stimulate the economy.

 

Clare  Article: "Sudanese advisor: Most state employees do not know how to use computers" Quote: “Iraq suffers from a weakness in human resources for digital transformation...We are in the process of creating a digital academy to appoint and train millions of employees ... The academy is being built by the private sector, not the state, and in cooperation with Microsoft and Apple...The Iraqi state has 5.25 million employees, most of whom do not know how to use computers."
 

 

[cjdavid]

Thanks Ron. Breitling has always made the most sense to me. Sadly he is saying what I have been thinking. I don’t think the Middle East will ever stop being crazy. It hasn’t since Biblical days so why would it change now? 

[Fimum]

...and it has taken a turn for the worse since 600 AD.

[Shedagal]

3 hours ago, cjdavid said:

Thanks Ron. Breitling has always made the most sense to me. Sadly he is saying what I have been thinking. I don’t think the Middle East will ever stop being crazy. It hasn’t since Biblical days so why would it change now? 

So, is Breitling getting out?  He has said he would be the first to tell you if it went south.

[Dretown39]

1 hour ago, Shedagal said:

So, is Breitling getting out?  He has said he would be the first to tell you if it went south.

I listened to that audio last week. He's still in..just watching how the situation is going to play out.

[screwball]

16 hours ago, ronscarpa said:

Militia Man  Everybody knows that Iraq said back in September of 2023, that Iraq was going to be the savior of the international financial system, bring confidence to the financial system in the largest banks in the world. They've been working on this to do what they said they were going to do.

 

MarkZ  Article: “Iraqi Government issues new decisions” Everything in this article that they have just done is screaming REER. (Real Effective Exchange Rate)  And that is what I am hearing from my folks at the Finance Ministry. They believe we are circling close to the rate change.

are these dudes related???? REER???/its all I hear! like watching re run of the muppets!