Iraqi Dinar Guru opinions 6-19-18
Iraqi Dinar Guru opinions 6-19-18
6-19-2018 Newshound Guru Whitelions Question: “How are you going to control inflation when large sums of money come into a country if you’re not going to float your currency?” [reference Guru Kaperoni post 6-19-18] In answer to [Guru] Kaperoni… According to the C.B.I People that have Dinar all over the world will bring it to there local banks and exchange it to their countrys currency ( they have 2 years to turn it in ). Their Local Banks will sell it to their country’s Central Banks and they can hold it up to 10 years. From there the C.B.I. can call in the bills as they need them OR the Central Bank that is holding the bills can can exchange them at their leisure depending on the rate if it is up or down. AND before you get all bent out of shape…ALL Currency’s around the world go up and down on a daily basis and NONE of them are on a FLOAT and remember the C.B.I. said NO FLOAT. I hope this helps you .
6-19-2018 Newshound Guru Kaperoni How are you going to control inflation when large sums of money come into a country if you’re not going to float your currency? All anyone needs to do is…read two or three of the documents from the IMF on the transition from fixed to float to understand how currency reform works. You cannot be pegged when large influxes of capital flow through the CBI, the only alternative to being pegged is a float. This is not guesswork, the IMF themselves told the CBI back in 2012 when they were about to transition the move to a more liberal exchange rate regime. The very definition of that is a float…we see the CBI follow the IMF time after time. Considering the IMF has an agreement with the CBI for monetary reform as well as trusteeship over the CBI the chances are very good that they’ll follow what they recommend.
6-19-2018 Newshound Guru Kaperoni Over the last couple of years there are more than 10 articles talking about floating the Iraq dinar. There is only one article that talks about the timing is not right to float the Iraqi dinar. My money is on the directives from the IMF, Iraq will float it is the only option. By definition moving to a more liberal exchange rate regime is moving to a float. Monetary policy is not a random act. Changing exchange rate regimes going from a peg to a float Etc all have individual purposes…they are used to stabilize economies or combat inflation. Iraq is expecting a large influx of capital …some say it’s going to be the wild west of the Middle East this will put severe pressure on the financial system of the CBI. The recourse is get off the peg move to a float to combat the pressure allowing the currency to rise and value.
6-18-2018 Newshound/Intel Guru Mnt Goat I still persist that mid-July is very good timeframe to maybe see the CBI moving ahead again on the project to delete the zeros. Yes, I do believe it is coming. Let’s just keep our fingers (and toes) crossed that nothing else comes up to interfere.
6-18-2018 Newshound Guru tlm724 Article: “dinar card is ready to use” Quotes: “announce International Islamic Ban announced launch first MasterCard card currency Iraqi dinar” “Ruffer used your card outside Iraq and through the Internet and the price of discharge according to the official price of the Central Bank of Iraq.” …very interesting. …I researched the International Islamic Bank branch in Iraq…they do offer MasterCard and many benefits to their customers. Very good stuff…
6-18-2018 Newshound Guru Kaperoni 3 days now passed the 3-month IMF requirement, CBI continues to be in compliance at 1200 to $1.
6-18-2018 Newshound/Intel Guru Mnt Goat …it’s mid June already and still the election process saga continues in Iraq. This is just 2 weeks prior to the end of the current government. Will they settle this saga prior to this time? They are already talking about a provisional government, this of course would be disastrous and will only lead to yet more shenanigans by Maliki and his goons. Will the UN or the USA step in to assist and settle this issue? We also know the MCP monitoring by the IMF ends… What does this mean? It means that the CBI will not want to allow too many days in between the signoff of the MCP and the reinstatement. We watch now for the next Article IV consultation session. The last consultation was completed on August 9, 2017 for the ending of the 5 year Stand-by-Agreement. This may very well be the final piece to the puzzle, allowing the CBI to continue to the next and final stage of the project to delete the zeros.
6-18-2018 Newshound Guru Daytrader I believe there have been a number of responses showing sound logic and article support for Iraq to move to a higher exchange rate. IMO the reason they must is because it is a WTO requirement that a members exchange rate accurately reflect the true value of its currency. Iraq has been working towards full WTO membership for several years, and looks as though they could be nearing acceptance. The WTO will not allow unfair trade practices within its membership, and Iraq’s current exchange rate would not accurately reflect its true value. Also recall Alak “visited” with the IMF while in New York for the Central Bank Governors meeting last year. …Alak was joined by an accounting firm believed to have completed an independent third party analysis of Iraq’s resources. Their objective was to provide accurate data for the new exchange rate calculations with the IMF. IMO Iraq will not reinstate at the current exchange rate.