Remember as a kid saving for something with a piggy bank or maybe a cigar box? You saved up for something you wanted to buy then went to pay for it with all those coins?
Imagine going to the store and wanting to buy eggs and the cost is 2724 dinar, how are you paying for that exactly? You may have a few fils left over to carry around that are basically worthless but you have this mixed bag of currency from a 250 note to a 25000 note. Life is not easy for economics in Iraq. This is why they need to move to a digital system and why they need a different value in their currency to make transactions easier. We still don’t have any concrete news of things that would make us feel like we’re on the cusp of anything but we keep looking. Let’s breakdown some of the comments for the day.
12-5-2024 Bruce We actually did get some information over the weekend…we had heard that we would be going any day now, and that is still true. …We know from our Iraqi sources that they…had a new rate that came out Sunday…and that they now have, in the entire country of Iraq, all the new lower denominations, like the five dinar notes – like our notes 10 – 20s, 50s and hundreds… all these notes that we call lower denominations are out throughout Iraq and being utilized…they’ve had to change their prices to reflect the lower denomination values and realize the rate inside Iraq is a very good revalued rate right now… I can tell you that we believe we are extremely close. Please tell me know one believes this guy at all. Look at all the discrepancies in this statement alone. First he says they had a new rate on Sunday, it’s Friday, wouldn’t that have leaked out even by accident? And then there’s lower denoms all over the country? Yet the CBI hasn’t posted a single new note to their website or we’ve seen any pictures. I can’t even believe that anyone with half point of intelligence would buy a single thing he says. Seriously, stop listening to, supporting, or visiting anything this guy has anywhere. He’s not legit…
12-5-2024 Mnt Goat As investors we all…should realize that there is a deal with China and Iraq on providing oil at a fixed price. This deal was brokered by the US Treasury and it included pre-selling some of the U.S. oil credits to China at a fixed price. But these are credits and these credits only materialize when we, as investors then exchange our dinar. Yes, billions in oil credits… I talked about these oil credits…when I described… how this RV would be paid for… 12-5-2024 Pimpy Let me tell you what I think about how everything is going to affect this investment in Iraq. Trump already told you, they’re going to drill baby drill. When he spoke with Elon Musk…and Rand Paul doing something about the Federal Reserve he told the people specifically do what you need to do but stay away from the oil. Period. He’ll handle the oil. We’re going back to being the number one exporter of energy…The last time he did that…it drove prices way down…Damn near bankrupt Iraq. That’s what Trump did last time for Iraq. I posted these two together because I want to tie them both up at the same time. First and foremost, Trump wants to drill, yes. But he said nothing about exporting this oil, he just wants to keep the pipeline industry going. Think about it, if you had a bunch of money in a drawer, and half of it was your currency, and the other half was currency someone gave you, but you couldn’t spend it in your own country, but you could buy things and have them shipped to you from that country, wouldn’t you do it? This is what we’re looking at, the so-called “oil credits” are just dinar. A big part of the decrease in currency for Iraq will come in the transfer (or controlled destruction) of the dinar that other countries hold. This will decrease their money supply, allow other countries to buy oil, help control the price of oil by pushing exports for Iraq without costing the home countries purchasing it, anything at all. So when Trump says “drill, baby, drill” he means it, but to continue rebuild the deposits that Biden allowed to be released in an effort to push prices down unsuccessfully because OPEC reduced ME pumping. As far as bankrupting Iraq, if you look at the historical data for oil prices:
2021: The average price was $70.86 per barrel
2019: The average price was $64.30 per barrel
2018: The average price was $71.34 per barrel
back to 2010: The average price was $79.48 per barrel
If Iraq was figuring on $70 a barrel, does it look like the first Trump presidency really bankrupted them? NOPE. This has been a consistent trend during the time and will allow Iraq to flourish even in the U.S. begins pumping oil again, because we’ll be refilling our reserves, not exporting it all away.
12-5-2024 MarkZ Comment: There are rumors HCL is done. MarkZ: They are operating as if HCL was done. I am convinced it is done- just not officially announced yet. Question: What is HCL? MarkZ: Hydro Carbon Law. it’s the profit sharing between the Erbil region and Iraq. We were told when it is passed – the RV can occur. Within days of it passing the new rate should be out…It may be time to start getting excited… All this rumor stuff. It’s simple, Iraq votes on something, puts it in the Gazette and BAM, it’s law. Throw in a presidential signature and you have something official. Do we have secret laws passing in the U.S. and nobody knows about until SURPRISE, you’r taxes just went up 1000%? Of course not, these things are generally discussed, openly verified and public to those who pay attention. So do we really think there some secret rate rolling around the country, a law they’ve been trying to pass for 20 years, money to be dispersed to the entire country, and no one said a word publicly about. No one posted on social media. No one printed one word about it anywhere. C’mon man, put the whiskey down. Oh, but let’s not forget, “we were always told when this happened”. Right.
12-5-2024 Militia Man What we’re seeing is some of the most exciting times we’ve ever seen. Article: “Iraq is positioned to create a robust digital economy. It could emerge as a model for how thoughtful policy and collaboration can fast track a nation into the digital age unlocking vast potential for years to come.” This is big. I can’t believe it’s finally seeming to be upon us the digital transformation of Iraq has gotten to the stage where…the digital world is going forward. This would be good news. But the biggest problem is just like the budget, they talk about it, comment about it, heck they even vote on it, but IMPLEMENTATION has been their biggest downfall. When we start seeing this actually happen in Iraq instead of talking, voting and writing about it, THEN we’ll have real change that matters.
All I can say is get ready for the excuses next week. December 10th is rolling this way fast. If we don’t have a change in value by that date, the excuses will have to come out. What will it be? A glitch in the system. We’re waiting on another law. The lower denoms got wet and we had to wait to dry them. Someone sneezed and offended the Kurds and we’re back to the drawing board. Again, I’ve told you, YOU will see real progress when it happens. You’ll know when this occurs at or before anyone else. No super secret bank screen, contact or member of parliament is going to tell you this has happened before it does. Common sense needs to kick in sometime. It’s a good time for it.
BWM