Frank26 I’ve always said that when it would happen IMO it would be from a Saturday night when you’re asleep to when you wake up on Sunday morning. Saturday into Sunday is what I’ve always said. Sunday into Monday is illogical because that’s a second day of the week. The first day of the week is when you would officially kick the football and start the game.
Pimpy I hold millions of dinar and people act like I don’t want the $3.22 exchange rate with the current currency, ‘No, Pimpy doesn’t like it. He doesn’t believe in it.’ What the hell are you talking about? I own millions of dinars. Nothing would make me more happier than them to jump up to a $3.22 rate and keep the same bank notes that we got now.
Clare Article: “Al-Sistani: The beginning of the month of Ramadan is today, Tuesday”
Sandy Ingram OPEC+ members agreed to extend voluntary production cuts by 2.2 million barrels per day in the second quarter of the year…Iraq is losing anywhere from $2 to $3 billion a month in OPEC’s volunteer program to cut oil production.
Militia Man Article: “Economics website: A new application enhances investment movement in Iraq” Quote: “...The new index, called (RSISX Total Return), compares currency exchange rate changes and the returns achieved.” It is not surprising they have a new RSISX Total Returns index for currency exchange rate changes. With Al-Sudani’s government mention of 1.32 dinars to the dollar yesterday and then today we see that there is talk of smaller denominations. Small enough to make change for 250 notes…Put all that with this new index being launched suggests for me, is that they are ready for change to come and not just in the exchange rate but…as in fils…This is another good sign Iraq is opening up to the world in a big way.
Frank26 The banks are not saying as much that it’s a scam. If you hear someone that says it’s a scam it’s probably someone at the very front line. But once you get past them we’re finding they have JP Morgan representatives at every Chase Bank it seems like. Perfect timing…Not one bank story has been negative in 8 or 9 days or so…The resistance is getting less and less. The force field is no longer at 10, it’s probably at 1 or 2.
Pimpy Can the Iraqi dinar get as valuable as a Kuwait dinar? Of course it could. There’s a lot of hurdles there. Are they [Iraq] going to be reinstated? No. Two different stories. The invasion and occupation [of Kuwait] was about 7 months…The Kuwait government was still able to do business as usual outside of Kuwait, use the money they had in their reserve fund. Iraq did not have that, not to mention the fact that Saddam Hussein… printed the hell out of the Iraqi dinar causing the value of the Iraqi dinar to drop…You can’t compare Iraq to Kuwait because there’s no comparisons…
MarkZ [via PDK] The market crash is looking closer and closer. More and more economists are saying it is likely …Jaime Diamond [CEO J.P. Morgan Chase] recently said the Iraqi dinar is going to save the worldwide financial system. So will we see the crash and then bam…they pull the trigger???
Paulette [Post 1 of 2…] This is clearly what the article said… They are weighing changing the rate from 1,320 dinars per dollar to 1.32 dinars per dollar. This is clearly 76 cents to 1 IQD…Currently the rate is 1,320 IQD to 1 USD. Looking it at the other way, this is 0.0007575 USD to 1 IQD. If they drop 1 zero from the exchange rate: 132.0 IQD to 1 USD or 0.007575 USD to 1 IQD. If they drop 2 zeros: 13.2 IQD to 1 USD or 0.07575 USD to 1 IQD. If they drop 3 zeros: 1.32 IQD to 1 USD or .7575 USD to 1 IQD. Therefore, 1.32 IQD to 1 USD is 76 cents to each IQD.
Paulette [Post 2 of 2] …What we want to see posted on the CBI website as to how many IQD are required to purchase 1 USD is 1.00 or less. If they post 3.22 IQD to 1 USD, this would mean 31 cents per 1 IQD. We want them to post .31 IQD to 1 USD which is then 3.22 USD to 1 IQD. Realize, they post how many IQD it takes to purchase 1 of another currency.
Frank26 We were looking for 1,200 or 1,000 [to 1 USD] but I don’t think we’re going to see it…We haven’t seen a single pip movement …It’s possible they may be looking at $1.10, $1.20 or $1.30…Let’s see where they enter the basket. I’d love for them enter at 1320 because that means we’re ready. I don’t think there’s any more preparation is required…I believe they have the potential to cap it at about $4.25 [in the float].
MarkZ [via PDK] Comment: …I am starting to think this is all bullcrap…please talk me off the cliff. MarkZ: Were you paying attention yesterday morning? Did you see the article yesterday where they are “OPENLY” talking about changing the rate [Reference MarkZ posts 1 & 2, 3-11-24, below] …and we know they have formed a committee to educate folks on the repricing because of changing rates. We know its going to happen…it’s the “when” that is still the monkey on our backs….
Mnt Goat This Saturday I had my normal call to my CBI contact in Iraq and was told they too are waiting for the signal to go ahead with the Project to Delete the Zeros. This is the next step. Everything from the Iraqi side has been cleared but the US Treasury has not yet given their assurance of the reinstatement once the process moves to the next step. The CBI now wants this in writing and a formal document stating the approvals. They are waiting for this to come. …we know that what has been accomplished in the de-dollarization process is hard to undo at that point…So, there is no turning back and they must move ahead.
