Jeff The budget will not be approved Monday. It’s going to be another failed attempt...Nothing will happen with the budget on Monday. It’s going to be a failed attempt to approve it.
Pimpy Article: “Iraqi Dinar: IBBC issues Major New Paper on De-Dollarisation of Iraq” It isn’t just about the de-dollization, this paper covers the banking reforms, the state of politics…the state of security. It also covers what Iraq needs to do to increase the exchange rate. It also talks about what Iraq needs to avoid to keep from having to devalue the currency even more. It isn’t just as easy as, ‘Hey increase the exchange rate so we can end all of your problems.‘ …It’s 30 something pages long…There was a lot of information in there that I was shocked about.
Militia Man They’re talking about a massive deficit…$210 trillion budget…It’s insane. They don’t have that kind of money. What are they doing? Now they’re going to increase it?!?…And these guys have it on “agenda for a confirmed and imminent completion” of it [the budget]. There’s something up folks because 1310 doesn’t work.
Kaperoni …The dinar to float at well over a dollar. Unlikely, the dinar when it floats will be whatever the current exchange rate is and could rise gradually accordingly.
Nader Nader you said it was going to happen in June.’ No I didn’t say in June happen. I said June they’re a possibility for them to work on the dinar because each time they worked on him it’s between June and August…They created a new white paper. They’re going to start working on the exchange rate and I think from here to the 8th of July. We’ll see what’s going to happen.
Deepwoodz Question: “Don’t they have a deadline for these budget things by June 9th?” I think June 9th was slated as the end of their legislative session post extension. Time will tell as to the importance of it.
Jeff If you’re excited about the budget being approved Monday you’re an uninformed investor. What that means is the rate is not changing because budgets are calculated off the value of the currency whatever it is. The budget was calculated against the dinar at 1310…The next window of opportunity that the rate could change would have to be either midyear (September or October) or the next budget period of 2025. In order for them to do that they have to suspend that year’s budget monies and consider re-amending the budget.
Pimpy Article: “The document..The House of Representatives votes next Monday on the budget schedules“ Finally after all this time. There was a huge delay.
Militia Man That vote [scheduled Monday 3:00pm Baghdad time vote on the 2024 budget tables] is prior to markets opening in the United States in New York. Will they vote? Will they do it? We’re going to find out.
yada The value of the restored dinar will have more assets and less debt than most countries. To the extent it will be on the level of Dubai. To think the dinar will have 4x more value than the dollar is awesome.
