3-29-2020 Newshound Guru Jeff ...Let's say Iraq were to change the rate on Sunday April 12th. Those two email correspondences from those brokerage firms state they would reopen on Sunday the 12th. Let's say the rate were to change on the 12th. "The trading floor is currency open 6 hours a week Sunday, Tuesday and Thursday from 10am to 12 noon." ...if the rate were to change on Sunday it doesn't matter if the ISX reopens for business because the fact that they don't even start trading until 10am Sunday morning. That would be after the rate change. My point is if the rate were to change on Sunday the 12th the rate would change while the ISX is still closed...
3-29-2020 Newshound Guru Pimpy ...we need more than a rate change to happen in Iraq in order for us to benefit from a rate change. It must be recognized internationally in most cases for banks to do the exchange. Some Chase locations are already making exceptions regardless of the currency being recognized internationally or not. You can exchange the dinar there...there's gonna be a fee once the exchange happens. I believe it's around 1%. They'll charge you 1% fee to make the exchange...just for the sake of it I'm gonna use round numbers. Let's say I have a thousand dinar and it's now $3 for every one dinar. I would deposit my 1,000 dinar into my account and they would exchange it and in my account would reflect 3,000 US dollars...If I had one million dinars and it was 3 to 1...
3-28-2020 Intel Guru Frank26 The good thing is that they are actually talking about 'lifting the 3 zeros' being postponed due to the corona virus. Which IMO mean they were in the process of lifting it. We were that close for a third time. God willing the CBI will return back to it after this corona has apexed...the beauty of it all is that they admit they were going to do it. They admit they are going to do it. And they admit they are going to go back to it after this corona virus is under control...that is cool.
3-28-2020 Intel Guru MarkZ ...it’s such a logistical nightmare right now. How to have enough people to staff exchanges…how to make sure everybody stays healthy…how to handle it and limit the time and exposure? It’s a process and they are working on it. One thing we are good at is waiting…we don’t like it but we are good at it. One good thing if they roll this out in pieces is…we know people are going and our turn is next…
3-28-2020 Newshound Guru Pimpy ...Vietnam dong is looking pretty good...we don't talk about it that often because the Vietnam dong situation is much different than what's going on in Iraq. Over in Vietnam their economy continues to grow and its grown at a pretty fast rate. This is in spite of the coronavirus...Vietnam is going to have a hard time trying to keep the rate that they're at now. They're gonna be forced to change and for more reason than one...the Vietnam dong is gaining against the US dollar. This is what we want. In addition we know April 6 there are some new penalties for those people who are still violating and manipulating their currency...
3-28-2020 Newshound Guru MilitiaMan Article: "Head of the government follow-up cell: Iraq may resort to printing currency to secure employee salaries..The crisis will begin early next month" Now we see additional data that tells us that an option is on the table to print money? More money to depreciate the value of the IQD? Lol! I think not!! They are not going to use an option like that at this stage. The FACT is Alak told us point blank they were not going to devalue the IQD...So, now what we know is that Alak is not going to devalue the currency, they have no option now but to revalue the IQD and with a powerful international rate...As they will be using valuable reserves that will effect their future ability to do things. We know they already printed the NSCNs, they most likely minted coins too. ...we see the CBI setting date limits for Salaries when it is the job of the Financial Minister, we can see that a pattern has changed.. They are in a hurry...I am liken this and big time..
3-28-2020 Intel Guru Delta ...I might be wrong but my opinion is that come April the Central Bank of Iraq is gonna make the move...remember if they are going to increase the value...they want to be sure they paid salaries before they do anything. They are moving very fast to pay those salaries...I've never seen the CBI rushing the citizens...to [give] a due date, 'You have by Tuesday to go get your money.' It never happened before...I do believe after they pay all the salaries the Central Bank of Iraq has to move forward and raise the value...they have only one month. Next month and then it's a disaster for Iraq. They have to come up ASAP...
3-28-2020 Intel Guru Frank26 ...no body knows the date or the rate...at this pace. If I didn't know any better. It sure feels like the same thing that happened in Kuwait. There was every reason for it not to happen. There was every delay and every reason for it not to go up in value and then all of a sudden - BOOM! We woke up and their money went up in value. This is very interesting.
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