TNT, Delta, PIR and more Monday Morning 5-18-2020
TNT:
Tishwash: Iraq is considering cutting the dinar as difficult options to face the financial crisis
A source close to the office of the Iraqi Prime Minister revealed that the government is considering reducing the value of the dinar against foreign currencies, as part of measures to confront the financial crisis caused by the drop in oil prices and the repercussions of the spread of the new Corona virus. According to the newspaper, "The New Arab."
The source said, according to the newspaper, "The options available to Prime Minister Mustafa Al-Kazemi are mostly difficult, but there are serious dialogues with advisers and economic experts, and during the past days, several options were reviewed to address the financial crisis, including external borrowing or the devaluation of the dinar."
He added: "There are also other options, including offering state factories and public properties for investment or sale, and printing the currency, but these will be the last options."
He continued: "All options presented have major problems in the long and medium term, but the alternative is the inability to pay the salaries." He pointed out that in the short term he will rely on the monetary reserve for a few months, while taking a series of austerity measures unprecedented at the state level.
The current crisis is the biggest challenge for the new Prime Minister’s government, as Iraq is one of the “mono-economy” countries, because it relied on about 94% of oil sales revenue to provide salaries of employees and retirees of about 4 trillion dinars per month (about 3 billion dollars) at a time that did not reach Oil revenues have only about 1.4 billion dollars last April, according to official data link
The Maze: First red flag of BULLSH!++ is... it's from "a source" hello! How many time have we seen something from a source that is always BS! Second red flag is you can't print worthless money...in other words it would cost more to print it to devalue it. Which brings me to the 3rd red flag of BULLSH!++. If...IF, they lower the value of their currency it would absolutely do NOTHING to fix the problems, in fact, it would make them that MUCH WORSE! If anything this is a smoke screen that if true would actually end Iraq period! When I said end, I mean end, there would be no more Iraq and we all know that's not going to happen.
BurbankLou: I see this as good news. The RV hurts Iran and, separately, many politicians and parties who are stealing money.Neither wants to give up power so they don't want change.The economic problems, plus the Demonstrators when they come back, create pressure to change. Frankly, the better things get in Iraq, the less pressure to RV. The worse things get, the more pressure to RV.
Shybaby: I most certainly agree …." The worse things get , the more pressure"
Spec1: That is not what they have already agreed to do with IMF - China - USA - World Bank etc. their loans were based on them revaluing their currency……Not sure who put this article out but if it is their news , I remember that Maliki owns the news in Iraq Based on what we have heard from Tony etc , this is fake news.
Harambe: Reuters: Oil prices hit one-month highs on output cuts, demand signs https://reut.rs/2Zf5cGG
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Courtesy of Dinar Guru
Pimpy ...a lot of you finally calmed down over those articles about Iraq wanting to devalue their currency...I told you don't worry about what the articles say, these are economists making suggestions. We'll see what they do. What they do is different than what they say. Just don't pay attention to what they say (pay attention a little bit) but pay attention more to what they do. With the price of oil going up this makes it less likely that they'll need to devalue the dollars. So stability, oil prices going up, the completion of the ministerial cabinet - it's looking really really good.
Delta ...this is huge...The United Nations giving dinars is an indication that they are Article 8. Keep in mind if you don't see them in Article 8 that doesn't mean they are not...Iraq was probably Article 8 two or three months ago but you're not going to see it until they basically announce it. We know they can't do that until the new rate or lifting the 3 zeros from the exchange rate has to be there...I think this is very very significant...to give...2 billion dinars...but the 2 billion dinars could really be worth something if they come up at $1 - $2. Now you got 2 billion dollars worth...this is very huge...
Patriot intel Report
PIR 05 18 20
The big economic event happening is the ongoing “Black Swan Event” that we are experiencing around the world….. Here in the US we are watching for the 4th and probably final stimulus bill to pass dealing with the “plandemic” that was unleashed upon this nation….….That bill was passed Friday by the house but it was dead on arrival in the Senate….we knew that. They will finally agree on something….possibly this week.
The big thing to look for in this bill is “infrastructure” money. That’s big. This will be a key that unlocks some major things.
So look forward to the passing of the final stimulus bill….it will more than likely also include money for individuals and families here in the US as a form of relief from what is happening to our nation.
They are talking about an additional 1200 for every person….it may be more. If they do not inject money directlyinto the hands of the people ….this economy will fall into a depression.
This money will help bring down the old financial system…….and the new system is waiting to start.
Expect the unexpected. The storm is upon us.