Wednesday, September 6, 2023
FRANK26: " THEY WANTED FROM 2003 TO NOW TO COME UP WITH A FAIR NUMBER", 6 SEPT
Frank26
If we had about a million Americans citizens all of a sudden came out millionaires instantly that would be a really good shot in the arm for America's structure wouldn't it? It would.
FIREFLY: They're telling us the official rate technically is 1132. They say in news about budget has words in it saying the exchange rate will be adjusted.
FRANK: The CBI told you this?
FIREFLY: Yes...And it will be retro to January 1st...
FRANK: This is Earth shattering. Powerful...If they lift the three zeros can you live with $1.13?
Question: "When the rate is released in Iraq will it go international at the same time?" Instantly it's everywhere. It will be national news. If there's a man on the moon, he'll read about it. If Hillary is on Mars, she'll know about it. Everybody, instantly. You'll wake up one morning and everybody will be talking about it. Everybody will be saying, 'You were right!' That's when it's going to get tough on you.
...They wanted from 2003 to now to come up with a fair number. My number would be $4.25. But...I'm not going to be greedy. As soon as I see that $3+ just like the rest of the Middle Eastern countries I'll jump on that man! Not all of it.
That's the beauty. Even if you only have 1 million dinars, exchange half and hold on to the other half. Calculate. You're going to need a team..lawyers...advisers...your pastors...your family...seek council, make right decisions. Because...you can only make this decision one time...
Tehran Chamber of Commerce touts $10 billion in exports to Iraq, eyes future market potential, 6 SEPT
Tehran Chamber of Commerce touts $10 billion in exports to Iraq, eyes future market potential, 6 SEPT
Shafaq News/ The Tehran Chamber of Commerce revealed that its exports to Iraq in the past year have exceeded $10 billion, underscoring the growing economic ties between the two neighboring nations. Iranian officials also expressed optimism about Iraq's significance as a crucial market for Iran in the next 15 years.
The announcement was made during a symposium organized by the Chamber of Commerce titled "The Role and Function of the Media in Developing Economic Relations Between Iraq and Iran." The event focused on discussions about the future of bilateral relations and the role of economic diplomacy in strengthening economic ties.
Yahya Al-Ishaq, the head of the Joint Iranian-Iraqi Chamber of Commerce, emphasized the importance of economic diplomacy, describing it as the strategic use of financial tools to achieve political objectives and utilizing political tools to attain economic benefits for Iran.
Al-Ishaq highlighted the "profound connection" between economic research, trade strategies, and countries' overall development and security. He noted that these factors have enabled Iran to capture an impressive 80% of its foreign trade.
Regarding the specific trade relationship with Iraq, Al-Ishaq revealed that Iran exported goods worth $10.5 billion to Iraq during the past year. He further pointed out that both nations possess trade opportunities valued at an estimated $20 billion. Notably, he emphasized that the Iraqi market is poised to become increasingly important for Iran and other countries over the next fifteen years.
Iraq and Iran have close economic ties. Iran is Iraq's second-largest trading partner after Turkey.
Iran exports various goods to Iraq, including food, medicine, construction materials, and machinery. Iraq exports oil, gas, and agricultural products to Iran.
The two countries also have strong energy ties. Iran supplies Iraq with natural gas and electricity, and Iraq is a significant market for Iranian oil.
In addition to trade and energy, Iraq and Iran cooperate in other areas, such as transportation, tourism, and culture.
The close economic ties between Iraq and Iran are due to several factors, including their geographic proximity, shared history and culture, and common interests in regional stability.
However, the economic ties between Iraq and Iran are also a source of tension. The United States has imposed sanctions on Iran, which have harmed the Iraqi economy. The United States has also accused Iran of supporting armed groups in Iraq, which has further strained relations between the two countries.
Despite the challenges, the economic ties between Iraq and Iran will likely remain strong. The two countries are too interdependent to sever their financial relationship completely.
New Strong Buy Stocks for September 6th, 6 SEPT
Here are five stocks added to the Zacks Rank #1 (Strong Buy) List today:
Black Stone Minerals, L.P. (BSM - Free Report) : This company that owns and manages oil and natural gas mineral interests has seen the Zacks Consensus Estimate for its current year earnings increasing 5.7% over the last 60 days.
Black Stone Minerals, L.P. Price and Consensus
Black Stone Minerals, L.P. price-consensus-chart | Black Stone Minerals, L.P. Quote
Sierra Bancorp (BSRR - Free Report) : This bank holding company for Bank of the Sierra has seen the Zacks Consensus Estimate for its current year earnings increasing 9.7% over the last 60 days.
TIM S.A. (TIMB - Free Report) : This telecommunications company has seen the Zacks Consensus Estimate for its current year earnings increasing 16.1% over the last 60 days.
TIM S.A. Sponsored ADR Price and Consensus
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Camtek Ltd. (CAMT - Free Report) : This inspection and metrology equipment company has seen the Zacks Consensus Estimate for its current year earnings increasing 9.4% over the last 60 days.
Consolidated Water Co. Ltd. (CWCO - Free Report) : This operator of water production and water treatment plants has seen the Zacks Consensus Estimate for its current year earnings increasing 47.4% over the last 60 days.
Consolidated Water Co. Ltd. Price and Consensus
Consolidated Water Co. Ltd. price-consensus-chart | Consolidated Water Co. Ltd. Quote
Iraq maintains its 30th position in the world with the largest gold reserves, 6 SEPT
Iraq maintains its 30th position in the world with the largest gold reserves
Shafaq News / The World Gold Council revealed on Wednesday that Iraq maintained its 30th rank in the world with the largest reserves of the yellow metal.
The latest schedule of the Council for the month of September 2023, seen by Shafaq News Agency, showed that Iraq maintained its ranking 30th globally out of 100 countries listed in the table with the largest gold reserves, despite buying 2.3 tons of gold in May, bringing its possession of gold to 132.6 tons, representing 7.6% of the rest of its other reserves.
He added that Iraq ranked fourth in the Arab world with the largest gold reserves after Saudi Arabia 323.1 tons, Lebanon 286.8 tons, Algeria 173.6 tons, and Egypt came in fifth place 125.9 tons.He pointed out that the most central banks buying gold during the second quarter of 2023 were Poland, where they bought 48.41 tons, followed by China by 45.10 tons, followed by the Czech Republic by 6.06 tons and then Russia by 3.11 tons, while the most central banks of the countries selling gold during this period were for Turkey with 132.23 tons, followed by Tunisia with 18.50 tons and then Uzbekistan with 4.04 tons.
Globally, according to the table, the United States of America still leads the rest of the countries with the largest possession of gold in the world by 8.133 thousand tons, followed by Germany with 3.352 thousand tons, then Italy came with 2.451 thousand tons, while Suriname ranked 100th and 1.5 tons, followed by Bosnia and Herzegovina with the same amount by 1.5 tons.
Financial expert Mohammed al-Hasani said that "all countries, including Iraq, are trying to diversify their basket of currencies and gold to be an investment portfolio to reduce risks and sudden fluctuations that may occur as a result of crises or currency devaluation, as it is a kind of hedging and gives monetary stability to the state."
He added that "countries do not rely on gold significantly in their investment portfolio, because it is a heavy commodity not like the rest of the currencies that are sold and bought quickly, so we see that some rich countries have gold, but they are almost reserves of gold fixed do not sell and buy continuously such as America, Germany and the United Kingdom."
"RV UPDATE" BY MNT GOAT & MARKZ, 6 SEPT
Mnt Goat
Some intel gurus want you to believe the “official” dinar rate is now set at 1130 and the CBI has not yet changed their site. This is not true, however I believe this is their next target rate and maybe the last rate change prior to moving ahead once again aggressively with the plan for the reinstatement. Seems this dollar issue has stalled their plan for now but they will overcome it as they always do but it takes time.
MarkZ
[via PDK]
Member comment: [Guru] Frank26 says he knows someone with contracts in both Iraq and Vietnam who wanted to expand. His financial advisors told them wait…as both countries are about to change in a huge way. MarkZ: That would be accurate. The sheer amount of business those 2 countries do with each others currencies that both hold in their foreign currency reserves is huge. They have to both go at once. IMO.
We just need to get through the very end of what appears to be the end of our journey. They are doing a good job on keeping people quiet. They have cracked down even harder on leaks. They absolutely do not want anyone to know ahead of that money is moving.
Still hearing from the Iraqi side that…politicians are talking about a 1 to 1 rate yesterday in Iraq. I certainly expect more than that. Lots of rumors from Iraq that we may see the new rate this week. Just try to stay grounded…the news is all over the place. Member comment: Some gurus say it will happen within 24-48 hours.
Markz: A lot of people at the upper levels of the banking world are saying that….
My Iraqi contacts are hesitantly excited with expectations for this week. There are more and more confirmations that the government is using that 1132 rate with contractors right now.
I feel pretty confident the CBI is starting to make moves. They have said before they would stabilize at that rate and then give us the big change we are looking for. We just need to wait and see what pops out of all this. The chatter is overwhelming right now that things have finished...
