Iraq an economic Study

Sounds like he's saying we're about to get paid, or he wouldn't be offering investment advice post-RV. Why so cryptic, sk? You're among friends here. How's Ko Samui this time of year?

Here's a little more legit hopium, from a couple guys I really dig, based on the Bayati article from a couple of days ago.



2-28-2013 Newshound Guru Arthur Article: "Parliamentary Finance Committee called on the government to impose the Iraqi dinar in the dealings of investment companies operating in the country with a view to supporting and strengthening of the local currency abroad." I DON'T WANT TO GO AS FAR YET AS DECLARE THAT THIS ARTICLE CONSTITUTES THE RV, BUT I WILL SAY THIS IS A STUNNING DEVELOPMENT BY THE FINANCE COMMITTEE OF IRAQ. THEY ARE NOW IMPOSING THAT ALL INVESTMENT INTERNAL AND EXTERNAL BE DONE IN DINAR INSTEAD OF USD. THIS WORDING INTIMATES AN INTERNATIONAL CURRENCY AND A FLOATING IQD FOR IT TO HAVE THE CAPABILITY OF INCREASING IN VALUE BASED ON IT'S OWN COMPETITIVE VALUE THROUGHOUT THE WORLD WHICH SHOULD BE SUBSTANTIAL DUE TO THE VAST WEALTH OF IRAQ.


2-28-2013 Newshound Guru SWFloridaGuy There was a very encouraging statement from the Finance Committee calling on the GOI to promote the IQD in investment company dealings to support dedollarization and promote the strengthening of the national currency and economy. They also said "increase its value and enhance confidence." I don't think it's a coincidence that this coincides with senior Iraqi officials receiving intensive training on the multilateral trading system necessary for WTO accession and being instructed on the necessary additional steps to take.

2-28-2013 Newshound Guru SWFloridaGuy Along with the training, submitting a memorandum and additional negotiations they need to also have a convertible currency. The CBI's goal is for the IQD to go international. To do that they need to raise the value. The next step is to pass the budget and the HCL. As usual the timing/mechanism will always be an unknown factor but I do think it's in Iraq's best interest to move ahead with the economic reforms upon completion of those events. I'm optimistic that this coming period will bring us some much needed political/economic stability and reform.

Last Edited by Revbo™ on 02/28/2013 05:09 PM

Hi Calin and Rev

Sorry didn't mean to be cryptic. lol

What I was trying to say this ride is nearly at an end. RV. Time to find other investments to put some of that hard earned cash into. Everything is looking good, all things seem to be pointing to an imminent RV or float. The 10 year plan is near its end and surprise, surprise it's been just 10 years. TPTB seem to have put a plan into play, oh about ten years ago. I serious doubt they are going to let Maliki or any one else for that matter interfere with its implementation, on their time line. These guys as with good chess players pay many moves ahead and have the patience to see the fruits of their labor come to fruition, over the course of decades, perhaps centuries.

One look at the world from a micro point of point of view and all appears to be in a state of disruption, but viewed over thousands of years, their is a plan in place and it is unfolding exactly as it was intended. TPTB just being pawns in the game. Enjoy the show, its why we are here.ts

10 years is up March 19, in case anyone was wondering.

Good to know! I'm still hanging in there with yawl.
Please RV!!!!!!!!!!!

Whoops! Double post. I guess GLP is still having problems.

Last Edited by Renegade () on 03/01/2013 08:05 AM

Allll righty then!

Sounds good to me. See you all soon in Thailand. Hope you all have your passports in order. Would be easier to redeem for lawful money, but short of that Thailand is second best. TS

And so it begins. Shock and Awe.





And so it ends.



Last Edited by Revbo™ on 03/01/2013 08:34 AM

I never got a passport!

Did y'all see this? Anybody in the UK here who can confirm?

[link to dinarvets.com]

Dinarbeliever:
Last night I posted a real bank rumour which happened in the Leeds/Bradford area of Yorkshire uk. As promised her is the update as my good friend caught up with the person in question
My mate-
I have known this lady for about 8 months, and was one of a team of three people that selected her at a job interview. I no longer work with her having moved to a different post. She was one of the top three candidates for her post, and I can personally vouch for her credibility and reliability having worked with her. She is a psychology undergraduate. I have just had a ten minute phone conversation with her, having yesterday heard a second hand account of her dealing with Halifax Bank in the process of applying for a mortgage. She was with her partner and a mortgage advisor, being taken through a standard application for a mortgage. This was two weeks ago. The mortgage application was successful. She was asked a series of standard questions as part of the financial risk assessment concerning the mortgage. Shortly after being asked about outstanding debts, income and expenditure, she was asked if she owned any Iraq Dinar. She asked why this was part of the question set; the advisor told her that this is now a formal part of the mortgage assessment. She was very clear that this was not asked in a conversational style, but actually appeared on the computer screen that the advisor was using. She does not own any Iraq Dinar; she has previously expressed interest in the investment but did not buy. (But is now rather keen to find some - no longer on sale at UK banks.) Hope this is helpful.

Also my other friend posted this on the facebook Iraqi dinar group

The implications of last nights revelation are huge. If some don't realise it means our big banks now what's going to happen and it looks like it the dinar is not going to revalue by cents. If a major bank like Halifax wants information on dinar investment as collateral for a mortgage its going to be a lot more. Just xxxxxxx opinion but hope that's the way it swings. Happy days just round the corner.

Again I reiterate last nights rumour was my first It is 100% true and I don't post lightly on here




Confirmation from another UK member...
Bettyboop:
ok folks . i can confirm this to be true..... and not just at the Halifax. I went today to the Royal Bank of Scotland to change my morgage to a cheaper one. I was asked the exact same question. I am not a member of any other forum . nor do i have a facebook account. When asked the question i confirmed that i have dinar but i said to the advisor Why would that be relevate it is not worth much and may never be. She turned screen of the computer round so i could see that it was actually a question on the application. She said no it isn't worth much at the minute but will be in the near future!!!!!!!! I also got my application approved. Just like the people dinar believer knows, i am also just an ordinary nurse who was lucky enough to find out about this. I don't know dinar believer or any other members of his group personally.

Last Edited by Revbo™ on 03/01/2013 08:01 PM

Hopeful story, ReV. It seems like Iraq does one or two moves to get er done and then another to keep Iraq in Chap 7 or slaps US in the face. I don't know what to believe anymore.

Sonny1: well,well,well its very odd that a war torn country without a pot to piss in would be a donar nation. well the world bank seems to think iraq has enough money to DONATE to poor nations. i cant believe this article hasn't gotten more replies, this is a huge article.

this is the best article to date. it proves that iraq has been lying to everybody about there situation, well they have just been outed. i always believed in the rv, some of the crap that has been spewed about the rate is complete garbage, but the rate should be above the zero mark in the next few months though with this news.
to all the loppsters who have argued with me over the years that iraq was indeed telling the truth about there situation, i accept your apology.

this is not a prediction, becuse 90% of my predictions have been a major trainwreck, but actions speak louder than words. lets just hope that this article is for real.


Read more: [link to dinarvets.com]

Hey Revbo. got your message but can't reply as I'm not a paying member at this time. Sorry.

But to answer you question. Nothing specific. Just would appear from all I am reading that the plan is going forward and on schedule, at least it appears that way. This is going to be our years. When exactly is anyone's guess. Patience my friend. ts

It always feels better when we get "good" signs!

Last Edited by calin on 03/04/2013 12:24 PM

Kaperoni proves the dinar will float…because it did before! A study of IMF documents and articles. 3/4/2013

[kaperoni] Why Iraq will free float the dinar…Direct from the IMF. (what the guru’s don’t want you to know!)

[kaperoni] I have heard all the reasons why not,

[kaperoni] But below is a document from the IMF that gives the facts about post war torn countries..and the choice of exchange regime.

[kaperoni] Adopting Full Dollarization in Postconflict Economies: Would the Gains Compensate for the Losses in Liberia?

[kaperoni] [link to www.imf.org]

[kaperoni] This is a great document because it explains in detail how these countries build a monetary policy post conflict….Which is what Iraq is.

[kaperoni] And how they transition from a closed economy to a market economy. And how some chose to dollarize there economies over having there own currencies, etc.

[kaperoni] First we will explore dollarization of a country…

[kaperoni] Here is a good quote…

[kaperoni] “In postconflict countries, the choice of an exchange rate regime is often an issue for discussion, as a result of the usual loss of confidence in the existing currency during the conflict. In light of the chaos at a postconflict stage, building such confidence through ongoing efforts for sound economic management may appear a far-reaching task, particularly in light of weak institutional capacity. Under such circumstances, a move to full dollarization is often seen as a quick solution to regain confidence.”

[kaperoni] And this one…

[kaperoni] “Theoretically, full dollarization represents a trade-off between potential gains and losses. Specifically, full dollarization is expected to impose an iron frame on economic decisions, ensure fiscal discipline, and reduce exchange rate risk.”

[kaperoni] And this one…

[kaperoni] “These gains, in turn, would lower interest rates and boost investment, exports, and economic growth.”

[kaperoni] These are all positive things to consider for a war torn country. In fact, since Iraq has been heavily dollarizing as of late to remove the dinar (most of it worn out) one has to question if the CBI has changed policies? And chosen to dollarize for the vary reasons listed above. Keep in mind Maliki has always had a “weak dinar” policy and this change would fit right in with that theory.

[kaperoni] Here is another quote…

[kaperoni] “As for losses, dollarization makes the provision of liquidity costly (because of the loss of seigniorage), exposes the economy to higher output volatility in response to real shocks (because of the loss of controls over monetary and exchange rate policy), and increases liquidity risk of commercial banks (in the absence of the central bank’s lender of last resort function).”

[kaperoni] This gives us the reason not to dollarize. These are significant reasons and would be a deterrent for the CBI to even consider full dollarization at this stage.

[kaperoni] And we can confirm this with this quote…

[kaperoni] “However, with the exception of Timor Leste and Bosnia and Herzegovina, all recent postconflict countries have favored their own currency. The main reason for deciding against full dollarization appears to be the high costs associated with the adoption of a foreign currency.”

[kaperoni] Ok, so let’s now look at “exchange regimes.” This is key as Iraq will soon have to chose one…

[kaperoni] Quote..

[kaperoni] “Postconflict economies pose specific challenges. A conflict often destroys a country’s physical and economic structures, and government’s capacity to devise and implement sound economic policies. Many people may have been killed, injured, or displaced during the conflict. Serious deficiencies in the health and educational and sanitation standards of the population are observed. A prolonged period of poor humanitarian developments could be a new source of social unrest.”

[kaperoni] Does that sounds like anyone we all know? Sure it does…this is describing Iraq to a T!

[kaperoni] This is where it gets good. So many have said I was nutz, that Iraq could never free float the dinar. That cannot happen…the reasons are many! But guess what? Turn to page 14 of that document and see the facts! What exchange regime did Iraq have prior to the war? Here is the hammer…..or should I say drum roll…. Yup..free float! Iraq, pre-war under Saddam was a floating dinar. This clearly debunks the so-called gurus who said Iraq could never float the dinar as we have stated over and over for the last 8 months through numerious articles. Iraq themselves (CBI) have even stated this in the recent power point presentation given to potential investment banks just last Jan, 2013 when they said… “Achieve stability in the exchange rate of the Iraqi dinar in the context of a flexible exchange rate system orbit.”

[kaperoni] So now we have the CBI stating the exchange regime they expect to enter... "flexible exchange rate system orbit.” (which is a free float) and the IMF document clearly showing prior to the war the Saddam dinar was a float. Does it get any better than that? Are you convinced of what is about to come yet?

[kaperoni] The good news is, there is a plan for the dinar..and that plan does include raising the value of the dinar. And hopefully, at some point, the dinar will have a significant value greater than it has now. Which means as dinar holders, we can potentially profit greatly from that appreciation, but it’s going to take time. It is clear, that will not occur overnight. That an overnight RV of sorts is not monetary policy and is certainly not an “exchange regime” under the IMF.

[kaperoni] The other factor that has always needed to be considered is the dinar we hold. The dinar intentionally sold out of Iraq to rebuild the CBI’s own financial reserves. These dinar have to be accounted for. This reason alone prevents an overnight RV. The dinar sold out of Iraq has to enter “market circulation.” In other words, our dinar ( physical money) needs to get collected, validated and converted to electronic money and then enter the central banks around the world. As Saleh himself stated.. in this 2011 article…

[kaperoni] Economy sober works to support the dinar and attract global investment - 29/08/2011

[kaperoni] Quote…

[kaperoni] “and aspiring professionals affairs financial that are supported Iraqi dinar as part of international reserves, through the establishment a strong economy enhances the value of local currency.”

[kaperoni] And this article from 2011… Experts: we aspire to make the Iraqi dinar portion of international reserves - 28/8/2011

[kaperoni] “Experts regard financial ambition that the Iraqi dinar is adopted as part of international reserves, through the establishment of a strong economy boosts value of local currency.”

[kaperoni] Both of these quotes provide two bits of very important information. 1. The dinar will be “part of international reserves” which means central banks will buy the dinar we hold. Which confirms the description and plan above. 2. A “strong economy enhances the value.” Again, this confirms no overnight RV but a gradual appreciation “float” over time based on the establishment of a strong economy.

[kaperoni] Now you have the plan. Now you know…this will take time to achieve a high rate. All we can do is sit back and watch for the float of the New Iraqi dinar.

Iraqi Dinar Speculation
Why Investors Keep Flocking to Dinar


By Joseph Cafariello
Tuesday, February 12th, 2013
A nation’s currency is much like a company’s stock. In the simplest of terms, the value of a company’s stock is derived by cutting up the company’s total worth by the number of shares in circulation.

[link to www.wealthdaily.com]

nothing new but an interesting perspective. TS

Thanks, sk. Not bad. At least, he's not calling it a scam.

An article I found interesting.

Mixed opinions: What will happen if they delete the three zeros of the Iraqi currency?
Posted: March 1, 2013 in Iraqi Dinar/Politics
Tags: Central bank, Currency, Economy of Iraq, Government, Iraq, iraqi, Iraqi dinar, Monetary policy
3 – 1 – 2013

Politicians and economists stressed the Iraqis that if delete three zeros from the current currency of Iraq explain many risks because of poor conditions in the country, instability, insecurity and corruption, noting that this process is not possible at present because it will lead to a major crisis in the Iraqi economy.

Iraq is seeking to reform the currency management system and to facilitate their use and to reduce the number of banknotes from four billion to one billion and 800 million, by deleting three zeros and a coin. [link to thecurrencynewshound.com]

I want to pontificate here for a moment, so bear with me, because this might come off a little rambling, but that's what GLP is for, right? OK, here we go...

So, I was reading, just a little while ago, that the US and Iraq wants to implement a sort of Chamber of Commerce [link to www.mubasher.info] and I also read that we had the third meeting about the Strategic Framework Agreement where free market reforms must be implemented. [link to translate.google.com]

This is something that's been bugging the hell out of me since I got into this and started hearing that Iraq needs to implement free market reforms in order for the economy to grow, and for us to get paid. We all know a socialist economy like Iraq has is doomed to, at best, stagnation (Argentina), and at worst, utter long-term, poverty-stricken megafail (Cuba). I really started thinking about this when I heard about the death of Hugo Chavez, because he's got a system that it seems Maliki is trying to emulate, where the government owns or controls everything, private enterprise is marginalized, and the people who vote for the dictator get thrown a bone to keep them in line. The Kurds are the only folks in Iraq who seem to care about much other than their 7th century religion and death to the infidels, other than Sadr, who, other than his 7th century religion and death to the infidels, really only cares that his people get their share of the government largesse. Here's President Jalal Talabani addressing his "comrades" at the 23rd annual Socialist International. [link to www.socialistinternational.org]

I guess my biggest problem with this is, why the hell did we not FORCE a free market on these fools from the get go? We could have rammed it down their backwards government's throat way back in 2005, and there ain't a damn thing they could have done about it. Why do we see business interests begging this government, in 2013, just to free up the economy a little bit, so that industry can move in and farmers can get to work on the Garden of Eden between the Tigris and Euphrates? I wasn't around back then, so I don't have the whole story, but it just makes no sense at all that we would invade, overthrow one dictator, and put another one in with exactly the same policies. I even see references from time to time where some Iraqi politician will say something like, "Well, there's nothing we can do about that business. It's governed by the Law of Industry of 1979." Why are there still laws on the books from 1979 and why is anybody paying attention to them?!?!?!?!?!?

All that said, it looks like Iraq is going to be dragged into a free market kicking and screaming and will, ultimately have a thriving economy, but all this could have been prevented by imposing it on them years ago. I guess I should be thanking them for their lack of progress because they would have revalued the money years ago, and I never would have heard about it, but, damn, these people confound me. It's like they enjoy the infighting and stagnation.

Last Edited by Revbo™ on 03/06/2013 04:39 PM

And just like that, things may be turning around again.


Maliki makes surprise visit to the house Shaways and a source familiar with the meeting, asserts that it is "a courtesy visit to Barzani"

06/03/2013

BAGHDAD - "arenas of Liberation"A source senior channel "change" television that Prime Minister Nuri al-Maliki has Wednesday evening a rare visit to the house deputy for economic affairs, Rose Nuri Shaways. added source familiar with the meeting said Shaways Contact MPs Kurds, asking them to come to the meeting with Maliki, adding that "Maliki's visit Shaways had no deputy prime minister, but for being one of the prominent leaders in the party Barzani and trusted by the president of the region. " Maliki in one of the meetings of the Council of Ministers and to the Yemeni Rose Nuri Shaways The source noted that "Maliki's visit to the leader of the party Barzani came a few hours after the peshmerga forces expelled forces island evil expulsion and prevent them from entering Sinjar, by order of the president of the region." and saw the source said that "Maliki's visit were not to his deputy Shaways to discuss controversial issues with the Kurds including the position of the general budget and the disputed areas, but came courtesy visit to Barzani first place. " concluded the source to say that "obsession fall Assad pays Maliki to try to restore the relationship with Barzani to stand generally prospects escalation in the western regions of Iraq."

[link to www.altahreernews.com]

You were a fun read today! Thanks ReV

Would not surprise me to see a lot of misdirection prior to an RV. We were seeing a lot of good news about the Iraqi's gettin er done. That seems to have changed with a lot more article painting a negative picture and suggesting it won't happen this year. I'm personally taking that as good sign. ts

Budget passed!
Waiting to see what happens!

From the CBI Website:
 

New website for the base of Iraqi legislation (www.iraqld.com) 7.3.2013
 
 

The base of Iraqi legislation is the production and support of the United Nations Development Programme (UNDP ) in collaboration with the Iraqi Supreme Judicial Council , and the Iraqi Ministry of Justice ,Ministry of Justice of the Kurdistan region

What's your take on that, LM? Why would they announce a new legislative website on the CBI site? The two seem to not have much to do with each other.

Anyway, here's a great chat from Kaperoni from this morning. Gonna be a float, y'all. Check out the bolded part, especially. This has to do with the 3rd phase of the Strategic Framework Agreement between the US and Iraq, and it mandates significant free market reforms. This is what started my rant yesterday. (Why the hell didn't they do that years ago?!) "Reintegration of Iraq into the global economic system" is exactly what we've been waiting for all along.



[kaperoni] Kaperoni – where we are at? What comes next now that the budget is passed. 3/7/2013

[kaperoni] I wanted to do a small chat on what to expect in the coming days…

[kaperoni] First, be assured…there was no RV in the 2013 budget. How the budget is financed is fully documented in the following article…

[kaperoni] Iraqi Budget 2013 – Background Paper

[kaperoni] Link…

[kaperoni] [link to www.iauiraq.org]

[kaperoni] Today, 3/7/2013 Iraq passed the 2013 budget including 750 billion dinar to pay the Kurdish oil companies.

[kaperoni] This is factually confirmed with this article…

[kaperoni] Parliament approved the budget 2013 and raises its majority to the 19 of March 7.3.2013

[kaperoni] And link…

[kaperoni] [link to www.almadapress.com]

[kaperoni] Now, If you read this article, Parliament has recessed until March 19th. Hard work deserves a break, right? Lol

[kaperoni] Here is a quote to confirm the recess…

[kaperoni] “…raising House Speaker Osama Nujaifi session to the 19 of March Current .”

[kaperoni] So, once again we wait. Over the past several weeks, several articles have surfaced talking about revising the banking law, economic laws, and investment laws. All of which IMO, will be passed in a basket shortly thereafter when Parliament returns. So a best case scenario is at the end of March these laws are passed.

[kaperoni] Now, something rather important happened yesterday. Something that if the gurus knew anything at all about Iraq, would have known. But they didn’t. So once again, facts, and facts only are what we should follow in this investment.

[kaperoni] What occurred was a series of meetings between the USA and Iraq to active a portion of the Strategic Framework Agreement. (we will discuss this more on the CC Friday night).

[kaperoni] Though the SFA was signed months ago, parts of it are implemented in stages. The part that was is now activated or now “in force” us the “Trade and Investment” portion of the SFA. This is significant. Here are two articles and links…

[kaperoni] Trade and investment agreement with the United States enter into force - 03/06/2013

Link…

[kaperoni] [link to translate.google.com]

[kaperoni] and this article..

[kaperoni] The start of implementation of the Convention on Trade in Iraq - U.S. 7/3/2013

[kaperoni] Link…

[kaperoni] [link to www.al-sharq.com]

[kaperoni] These articles are significant because they give us details to the “Trade and Investment” portion of the SFA.

[kaperoni] This is how we are going to see an increase in the value of the dinar. This portion of the SFA is going to push Iraq into a free market economy, thus making Iraq integrate with the world. And as a result of that effort, the New Iraqi Dinar (NID) will become internationally convertible.

[kaperoni] Here are some quotes from these articles…

[kaperoni] “Announced on Wednesday, to enter trade and investment agreement signed between Iraq and the United States into force. This came during the third meeting of the Joint Coordinating Committee between the two countries in the light of the Strategic Framework Agreement, which was chaired by the Iraqi side, Deputy Prime Minister Ruz Nuri Shaways, and the U.S. side Michael Delaney, and Deputy U.S. Secretary of Commerce.”

[kaperoni] And this one…

[kaperoni] “He added: that Iraq is serious in its quest to enable and facilitate the completion of foreign investment, particularly from the United States of America, by making the necessary adjustments in the investment law and the laws and regulations chock him, to create a fertile environment attractive for foreign investment and local levels, and including giving freedom to the investor bring employment and expertise from abroad and freedom movement of capital to and from Iraq, and to give guarantees not to expropriation or nationalization of investment projects.”

[kaperoni] The key here is this statement…”…freedom movement of capital to and from Iraq”

[kaperoni] I do not believe they are talking about some agreement between HSBC or EX-IM bank which would perform the “repatriation” of the currency on a financial transaction. This is only a stop-gap type solution. It is clear, that Iraq needs to make the dinar internationally convertible through the IMF (Article 8 to fulfill the “freedom movement of capital to and from Iraq” standard.

[kaperoni] Here is another quote…

[kaperoni] “The agreement aims referred to the development of trade and investment relations, and reviving the Iraqi economy, and supporting private sector development, and create jobs, and expand trade, and the reintegration of Iraq into the global economic system.”

[kaperoni] This gives us the answer we are looking for. The quote… “…the reintegration of Iraq into the global economic system.” Seems to confirm that in fact only moving from IMF Article 14 to Article 8 would achieve these results.

[kaperoni] So what I expect in the coming weeks (after the basket of laws pass, is Iraq to honor the IMF Stand-by-Agreement terms (remember that? It expired on Feb 23rd, 2013) buy accepting the benchmarks set forth in that agreement. One of which was to move from the closed “currency board” monetary policy the CBI has been in since 2003, to the new “exchange regime” stated in the SBA.

[kaperoni] I have written other chats on these “exchange regimes” that are posted on DinarAlert.webs.com

[kaperoni] Keep in mind, a RV (overnight substantial rate change) is not an exchange regime under the IMF.

[kaperoni] It is my opinion, Iraq will move into a free floating currency regime for a period of time to let the world market dictate the rate of the dinar. This regime, is the most appropriate temporally to raise the value of the dinar globally based on Iraq’s actually goals, wealth and achievements to date. No matter what regime Iraq chooses, it will begin to raise the value of the currency.

[kaperoni] I think this article sums it up best…

[kaperoni] High rates of inflation and the decline of economic development for the low value of the dinar - 06/03/2013

[kaperoni] [link to translate.google.com]

[kaperoni] Quote…

[kaperoni] "the power of the Iraqi dinar and monetary value depends on the strength of the country's economy and the extent of recovery sectors generating income and not on the auction CBI, he says. Pointed Moussawi to" The value of the Iraqi dinar does not depend on what is sold at auction CBI but value of the dinar lies in the strength of the country's economy all segments of industry, tourism, commercial and agricultural,…”

[kaperoni] If you read this quote carefully, they are telling everyone..the value of the dinar will rise over time based on the success and strength of the development of economic sectors (industry, tourism, commercial and agricultural). Again confirming the dinar will rise in value over time (float) – not overnight.

[kaperoni] Kap

Last Edited by Revbo™ on 03/09/2013 10:11 AM

Raise zeros=the redenomination after the value is increased. As the dinar floats upwards, the zeros effectively remove themselves. i.e. As it gets to a penny, one zero is removed. When it gets to a dime, two zeros are removed. When it gets to a dollar, all three zeros are gone. You can't give citizens more purchasing power with an l-word. It's getting interesting again...


[link to translate.google.com]

Maliki's insistence on Allahal ...

By: Khalil Cardh - 07-03-2013 | (Voice of Iraq) | printable version

In an attempt to cover up the protests continued for some time in the Sunni provinces reject the policies of Prime Minister Nuri al-Maliki of marginalization and exclusion of the blocks Iraqi involved in the national partnership to lead Iraq, and imposed this government to provide services to citizens and meet their desires in free and dignified life, to enact laws to implement social justice , and reviving the Iraqi economy faltering for decades and raise the purchasing power of citizens by raising the actual value of the Iraqi dinar and raise zeros, which affected the survival, and according to the language of the figures that the Iraqi economy of the strongest and richest economies in the region, where the Iraqi budget for the current year 2013 an estimated 138 trillion and 424 billion and 608 million Iraqi dinars and these figures sufficient to remove Iraq from the list of the poorest countries in the world.

Last Edited by Revbo™ on 03/07/2013 04:03 PM

I like that explanation ReV! See bold above....

If this guy's right, and we really do plunder the world for cash, well, we ain't seen a dime of that trillion dollars we poured into this particular third-world hellhole.

Thread: TRANSCRIPT- Confessions of an Economic Hit Man- How the U.S. Uses Globalization to Cheat Poor Countries Out of Trillions

JOHN PERKINS: Basically what we were trained to do and what our job is to do is to build up the American empire. To bring — to create situations where as many resources as possible flow into this country, to our corporations, and our government, and in fact we’ve been very successful. We’ve built the largest empire in the history of the world. It’s been done over the last 50 years since World War II with very little military might, actually. It’s only in rare instances like Iraq where the military comes in as a last resort. This empire, unlike any other in the history of the world, has been built primarily through economic manipulation, through cheating, through fraud, through seducing people into our way of life, through the economic hit men. I was very much a part of that.

Last Edited by Revbo™ on 03/08/2013 11:24 AM

High rates of inflation and the decline of economic development is reason for the low value of the dinar

Posted: March 8, 2013 in Iraqi Dinar/Politics
Tags: Baghdad, Central bank, Currency, exchange rate, Iraq, iraqi, Iraqi dinar, Value (economics)
Witnessed domestic markets declined slightly priced dinar accompanied anticipation in the popular collapse of local result of the deteriorating conditions of the Central Bank at the present time,

Financial said the extent of “do not need to fear of falling value of the dinar at the current stage because factors internal It is possible to control.

said economic expert Majid Suri said, “There are no objective reasons to fear of falling value of Iraqi dinar at the current stage, pointing out that” the factors that possible to affect the dinar exchange rate is and internal factors can be addressed through “cash reserve sovereign.”

explained Suri “that if There was a significant inflation as a result of external causes will be forced government or organizers of the Iraqi Central do a strengthening exchange rate of the dinar against the dollar, which would result to fight inflation and reduction, as well as having other mechanisms lies in the withdrawal of surplus from the Iraqi dinar traded in the local market in order to alleviate process inflation and the accompanying rise in the price of goods and commodities.

For his part, Director of UNIC economic Dergham Mohammed Ali “that the value of the Iraqi dinar did not fall against the dollar and foreign currency, and that Iraq was able to maintain a fixed exchange rate against foreign currencies other.

explaining, that the value cash dinars did not go down if been offset with foreign exchange rates other reason behind this is action CBI to maintain a fixed exchange rate of the Iraqi dinar. “

pointing “that inflation continued increased rate in the recent period has led to the devaluation of the dinar and affected purchasing power “. In the meantime revealed a member of the Economic Commission parliamentary Salman al-Moussawi to review economic development in the country contributed to the decline in value of the dinar against the U.S. dollar.

explained Moussawi said in press statements that “the power of the Iraqi dinar and monetary value depends on the strength of the country’s economy and the extent of recovery sectors generating income and not on auction CBI, he says. pointed Moussawi to “The value of the Iraqi dinar does not depend on what is sold at auction CBI but the value of the dinar lies in the strength of the country’s economy all segments of industry, tourism, commercial and agricultural, pointing out that” these sectors whenever possessed elements economic power and income-generating become Iraqi dinar value fixed and stable, noting that “the attempt to control the value of the local currency by auction where a big risk.”

He Musawi “The dominance of the oil sector on all other economic sectors made it useless and influenced the level of the economy in the country.” stressing the need to “be directed oil revenues towards the development of other economic sectors to contribute to strengthening the economy and raise the value of the currency.”

[link to thecurrencynewshound.com]

Good article, TS. He's right. It does depend on the strength of the economy. That's why they need to pass these freakin' banking laws that, for some reason, they've procrastinated on for a decade, and free up the private sector. It looks like the laws are coming, as long as Maliki can hold on to the 4 or 5 Iraqiya MPs who voted with him on the budget. I saw Ammar Hakim (leader of the Supreme Islamic Council) talking about it at a banking conference today, which is very good news.

I also saw an article that said even the homeless won't take these busted dinars they have in-country at the moment, which is also responsible for the low street value. There's really no good reason for CBI not to have replaced all this tattered money yet unless there's a change coming, since the people have been complaining about it for at least 8 months that I can remember, and with CBI's $67 billion in reserves, they could easily replace the old currency. It's so bad that up to half of the money folks are getting paid is completely useless to them.

Last Edited by Revbo™ on 03/10/2013 09:05 AM