More News, Rumors and Opinions Saturday Night 10-29-2022
KTFA:
Samson: Economist: The sudden change in the dollar exchange rate... will generate the collapse of Iraq's economy
29th October, 2022
An expert in economic affairs, Safwan Qusay, warned against the process of suddenly changing the dollar's exchange rate against the dinar, stressing: "The sharp and sudden change of the value of the dinar against the dollar will lead to a strike on economic and financial stability and create winners and losers in the market. It may lead to Lack of confidence in foreign investment in the Iraqi economy.
Qusay said in a statement to the Iraqi National Agency / Nina/: “It is clear that the Central Bank of Iraq is still determined not to change the exchange rate during the next three years, and on the economic policy to correct the economic situation to reduce the inflation rate and confront unemployment and poverty,” noting: “This requires rationalizing government spending, expanding investment spending and supporting the sector.”
The private sector financially, legislatively and cognitively, with the trend towards partnership with international investment for the purpose of economic diversification and creating job opportunities for the poor and the unemployed, and all this before reconsidering the value of the Iraqi dinar.
He pointed out that "the process of determining the fair value of the Iraqi dinar needs to link it to a basket of world currencies, diversify the sources of obtaining it and invest all available resources so that the dinar can compete with the rest of the world's currencies, especially with the expansion of the demand for the dinar in all directions."
The economic expert continued, "The process of changing the value of the dinar sharp and sudden, will lead to a strike on economic and financial stability and create winners and losers in the market, and may lead to a lack of confidence in foreign investment in the Iraqi economy." LINK
~~~~~~~~~~~~
KandG: This guy is going to find himself drug out into the streets and beaten to death by the Iraqi citizens making statements like this - "3 years" is all they see in the article.I do find it interesting that he mentions "3 years" - isn't that what kuwait said the day before revaluing?? IMO
BlaqueBeauty: Best Part imo: “He pointed out that "the process of determining the fair value of the Iraqi dinar needs to link it to a basket of world currencies, diversify the sources of obtaining it and invest all available resources so that the dinar can compete with the rest of the world's currencies, especially with the expansion of the demand for the dinar in all directions."
KandG: Did the US TREASURY, World BANK, International MONETARY fund put all this pressure on, have meetings in DC last week, UN attend the cabinet voting - just to see some seats filled?? Really??
It's about MONEY - and that is not about an exchange rate worth a fraction of a penny - IMO. Kuwait said 3 years the day before their RV - just like these folks said today. I know there are some naysayers out there and I understand - but I'm excited!
************
AMAON: Revealing its date.. The House of Representatives decision determines the form of the 2023 budget
29th October, 2022
Today, Saturday, the Rapporteur of the House of Representatives, Gharib Askar, stressed that one of the first concerns of the House of Representatives and the Sudanese government is to legislate and formulate a general budget that takes into account the interests of the Iraqi people.
Askar said in a statement, which was reviewed by / the information /, that "the new government will be interested in sending the general budget at the beginning of the fiscal year, especially after the absence of the 2022 budget."
He added, "The financial abundance will help in approving the general budget in a distinct way from all previous budgets." LINK
KandG: So this gentlemen just told the Iraqi citizens about the "financial abundance" and a budget that is "distinct" from all previous budgets - that is a pretty interesting statement that the Iraqi citizens will be watching closely… Add this to previous articles of UN / International pressure and we may be seeing something sooner as we see other words such as "first concerns" IMO
************
Courtesy of Dinar Guru
Frank26 Article: "An economic expert : The cost of returning the dinar to its old price against the dollar will be very high" THE HOT TOPIC IN IRAQ IS NOT POLITICAL IT IS ABOUT THE DINAR AND THE EXCHANGE RATE
Kaperoni The speech from the new prime minister of Iraq Al-Sudani was promising since he announced that he expects to open Iraq's economy for investment. Only time will tell. At this point the prime minister is saying all the right things, to employ Iraqis, encourage investment and engage with all countries of the world. We will see.
Iraqi Dinar update for 10/28/22 - Farewell to Al Kazemi, Now we're on rate change watch
Pimpys Investment Chat : The Other Side of Things : 10-29-2022
GOLD & SILVER Will Continue To Be Real Money!! - Bill Holter | Silver Price
Smart Money: 10-29-2022
Bill Holter talks about why Silver & Gold will be always considered real money.