EYEGUY: From Norm: Some Good News and Some Bad News
Zig’s Place Chat Early Saturday AM 4-3-21
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EYEGUY: from Norm a recap I got in an email:
Some good news and some bad news. Walt’s “good buddy” (Maliki) has filed to stop the budget, today. He has put in an Official motion, and filed it with the courts, to stop the approval of the budget. I don’t know if it is so much bad news, as it is just funny news because he is the only one that filed the motion. (chuckling)
But we know it is not going to happen, anyway. He is just going through the motions because he wants to make sure he stays on Iran’s good side and can say that he did all he could do to stop the budget, which he is not going to stop.
The good news is everyone else in Iraq is excited. After 10 years 12 years, they finally got a Budget and it is going through. Everyone is saying they are implementing the reforms and they are going to get started, and we are going to see it, “in the coming days”.
Now, I know that you guys are scared of that phrase (we have heard it so many times and nothing happened) because it scared me – “in the coming days” – here we go again. But we will probably see it in the next 2 days.
What needs to happen next? That is the question everybody wants to know. The budget is done, they signed off, we have the amount, and within 48 hours they have to ratify the budget, signed off by the President, and it should all happen today or sometime tonight and should be recorded in the Gazette tomorrow – anyway, this is the plan – sign it off, get recorded, goes in the Gazette tomorrow, and become law.
Once that happens, they can then implement the reforms, and part of the reforms is changing the exchange rate, and we have to see when that part happens because that is up to the CBI. A lot of people are complaining about it.
They wanted it to be part of the budget, the representative wanted it to be part of the budget, and they went and let the budget go through so they can argue about it today or tomorrow.
A couple of things are happening in Iraq and you need to understand what is happening and why they are doing them because it loo
A couple of things are happening in Iraq and you need to understand what is happening and why they are doing them because it looks wrong, suspicious, or confusing, which it is supposed to be. All of those. It is exactly how it is supposed to look. The rate went down again today.
The dinar was devalued even further. But they say it is going to stop at 1500 and it is not going any lower than 1500, is what everybody is saying, even though the rate in the budget was 1400 something and they said it would not go down.
If you look in the articles, you will see there are 5 different provinces with 5 different rates. It is one country. How could the exchange rate be different in every state you go into, or every county you go into, or in some cases, every Market you go into? How can the rate be different?
Because they don’t operate the way we do. But it is. But all the rumors that are going around saying something is going to happen. Everybody knows something is going to happen, which is a good thing. So, we are looking for that something, sooner rather than later.
About a week ago, I told you one of my guys over there said it would happen during Ramadan, and that starts on the 10th or 11th (my iPhone calendar says the 13th) and it is the month of giving to the poor, and Iraq’s citizens fit that description. I am not telling you it will drag out until the 10th.
I am telling you that somebody over there said that it is going to be during Ramadan. I don’t know, and the reason I don’t know is everybody over here is saying something different. Iraq is expecting it, and they are saying 1450, if it gets to that, would not be for a long time, which, again, tells you something.
It says all this reducing the rate is accomplishing what they wanted to accomplish. They are rebuilding their Reserves, cutting off their corruption, and making everything else apparent and visible to everyone. So, it is achieving its purpose, even though it is hurting the Iraqi citizens.
Now, they didn’t expect it to take this long to achieve its purpose, but as long as they cut off the currency, then it is really good.
So, what are we hearing over here? We are hearing it is done. We are hearing there is a live rate on the screen. We are hearing that the Banks will be processing people over the weekend – they are saying “preferred customers, only” and that the general public will be going by Tuesday morning.
That is what I am hearing. Now, they still have to ratify the budget, and they had 48 hours, and they have got to put it in the Gazette. That pushes us up to Sunday. If the banks are saying they are going to start their preferred customers tomorrow, and that is what several banks are saying, we will see what happens.
And, they are doing it and anticipating it will be recorded tomorrow in the Gazette, and there is no turning back, regardless of Maliki filing an objection to it, and everyone can get started.
The rates are on the screens, and they are still waiting for the GO, but I don’t think we will get it until it is recorded in the Gazette, tomorrow. It is Good Friday and we have all good news, and the RV is about to explode. The rates are there.
Ray has the rates, and everyone should be happy, going over their to-do list, counting your money, knowing what to do when you get there, going over it and it and over it. And, then, know what you are going to do when you get home and reality sets in and you see all the numbers and have walked out of the bank, and you have money in your pocket and a card in your hand, and you say “Oh, my!
It was real! Now, what do I do?!” If you go through all of that now, there won’t be as much pain as waiting until after it happens. Believe me, there is still going to be some. You’re still going to be excited
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