"RV UPDATE" BY PIMPY, 1 MARCH

 Pimpy 

 Question: "How is the development road project going to be funded at 1310?" 

 The development road  project is not the world's largest project.  It's not even in the top 20.  But it is a very expensive project...Pay close  attention... Article quote "This year's budget is Iraq's largest at 198.9 trillion Iraqi dinars, about $153 billion based on the  exchange rate. 

 The 2024 and 2025 budgets will be the same unless the cabinet requests any changes and parliament approves them."   This budget has already calculated...What did it say in the article?  'With the current exchange rate.  And what is the current  exchange rate?  1310 dinars per dollar.

  There's no doubt this [Development Road Project] is going to turn Iraq into a transit center .  There's going to be a lot of traffic going through there.  [But] Article quote: "Iraq has postponed the launch of its $7 billion development road project to early 2025..."  Hello, remember, don't count your chickens before they hatch.  We are talking about Iraq.  This happens quite often.

  Community Comment:  "Thanks for the let down once more that Iraq will never RV."  I never said it would never RV.  Never.  In fact I'm the one that said it's going to go up in increments.

Question: "There have been some references...regarding some Iraqi banks in the US, have you heard  about any of thee banks on US soil?"  Here you go:  You have the Iraq National Bank that's in New York. Rasheed Bank that's in New  York.   North Bank  that's Dearborn Michigan, The Bank of Baghdad is in New York City, TBI Bank which is in Washington DC.  These are  the Iraqi banks that are currently in the US...    

Community Comment: "IMO I think a $1.28 would be a sweet spot for the RV and then go up from there."  $1.28 would be pretty nice if we can get it but IMO if they want to make sure not to really crash their economy they're going to have to go up in smaller increments...I know you guys don't like to hear that and it makes me the bad guy.  You might see it go somewhere from...1310 for every dollar...to around 1,100 dinars for every dollar or maybe even 1,000 dinars for every dollar, then from there down to like 700s...small increments.

https://dinarevaluation.blogspot.com/2024/02/rv-update-by-pimpy-23-feb.html

 Community Comment: "Once the 3 zeros are deleted, establishing IQD's REER, then the rate will go up in increments."   That's not what you want.  You do not want them to delete the zeros before the rate goes up.  If they delete the three zeros off your currency then your 25,000 dinar becomes a 25 dinar and then they raise the rate?  That's not going to help you.  We'll see what happens.

 If you're going to exchange your Iraqi dinar, let's just say for the sake of this particular example...3 to 1, congratulations you now got millions of dollars.  So you go and you swap your currency and they're saying, 'Hey, you got $3 million in your account.'  Yah!   You can't say to them I want $3 million dollars because the bank doesn't carry money like that no more. They might say...we are going to allow you to carry out $5,000 for today cash but we're going to have to set an appointment with you to come pick up the rest of the cash...If they have to order currency for you, they're going to charge you a fee because they have to pay a fee...

https://dinarevaluation.blogspot.com/2024/02/rv-update-by-pimpy-21-feb.html