Thursday Night Opinions @ 10:34 PM MST - 6/05/2025

[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 

 

 

6-5-2025  Pimpy Another one I heard is they cannot become a member of The World Trade Organization unless they change their rate.  That's false. The World Trade Organization cannot tell another country what type of exchange rate to have. Every country is under their own sovereignty. Their central banks decide the exchange rate where it's going to be free flowing or fixed. If it's fixed they determine the rate but if it's free flowing the market determines the rate of their currency. So no Iraq does not have to change their exchange rate because the World Trade Organization thinks it's too low. That's false. Vietnam is a member of the World Trade Organization and their currency is way cheaper than the Iraqi dinar. (all correct..!) 

 

6-5-2025  Samson  Article: "The Central Bank of Iraq's foreign exchange reserves increased by nearly $100 billion." Quote: "The bank's foreign currency reserves rose to approximately $98 billion at the end of March 2025."

 

6-5-2025  Militia Man Maintaining foreign cash reserves the country has done a phenomenal job. They have 160 tons of gold...It covers 140% of their imports and local currency in circulation.

 

6-5-2025  Clare  Article: "PM Advisor: Iraq's natural resources are worth more than $16 trillion" Quote: "Prime Minister's financial advisor, Mazhar Mohammed Salih, confirmed on Wednesday that Iraq is moving towards diversifying its gross domestic product (GDP) sources by expanding investment in the mining sector, He noted that the value of Iraq's natural resources exceeds $16 trillion."

 

6-5-2025  MarkZ  Question: [There is a banking holiday in Iraq from the 6 - 10!  Cover for the RV?] Mark: Yes we are coming up on an extended banking holiday in Iraq. My sources are seeing older lower denominations from the Saadam Hussein era in circulation. I was also told by one Iraqi whose spouse works in the banking industry that they are circulating a “cut-sheet” showing what the new lower denominations are going to look like in Iraq. That is a very good sign. (RUMOR - unverified content)

 

 

[screwball]

20 minutes ago, ronscarpa said:

6-5-2025  Clare  Article: "PM Advisor: Iraq's natural resources are worth more than $16 trillion" Quote: "Prime Minister's financial advisor, Mazhar Mohammed Salih, confirmed on Wednesday that Iraq is moving towards diversifying its gross domestic product (GDP) sources by expanding investment in the mining sector, He noted that the value of Iraq's natural resources exceeds $16 trillion."