Dinarland Highlights - 3.13.20
Kaperoni
Can I tool [toot ?] my own horn? Ok here you go...
Article:
"Former minister: Iraqi dinar on the way to "float"
Quote:
"the Iraqi dinar is on its way to float (i.e. reduce its value), and the Iraqi government may have to increase the exchange rate of the dollar to 1250 dinars against the dollar in order to obtain additional funds estimated at 4 trillion dinars in the budget and this matter is positive because it will allow encouraging the national industry because it will raise the value Imported goods and makes domestic competitive."
Maybe some of you will study monetary policy now... I do agree that under the current conditions it will probably devalue the dinar. That is why I have stated numerous times that is important that they create the conditions to launch a market economy first. If Iraq wants to succeed at raising the value they need to create a market economy, have a gov in place, cabinet and pass laws that investors will come and participate.
[Guru] sandyf...For the most part you are correct. [reference Guru sandyf post 3-13-2020] Iraq could accept Article VIII, but fear plays a part since it is a one way decision. The IMF does not allow a country to return to Article XIV once accepting VIII. I...expect sooner or later if they want to diversify their resources they will accept it. As for floating the currency, it is the natural progression to get off the peg once they create the conditions for a private sector/market economy. That would be called an "orderly exit." Currently, due to a lack of a prime minister, a cabinet, the laws needed along with low oil and Coronavirus it is creating the "perfect storm" for Iraq's economy and speeding up the transition. In fact, often called a "disorderly exit." I am not a fan of this situation but it is what it is and we will have to see what the CBI decided to do...wait for the perfect conditions or just throw the oars in the water and row for a few months until this passes.
...I do expect if they choose this now for it to devalue some, but not much or for very long. Predictions are 1300-1350 to $1. One thing is for certain though. There is no RV or RI about to happen...
______________________________________________________
Pimpy
Is this right? Is there an article out there saying that we finally have Iraq heading towards a floating rate? This can't be? When I found out about this I almost lost my poop...
Article:
"Former Minister: Iraqi Dinar On The Way To "Float"
...we want the Iraqi dinar to float. Yes we do! This article says for the purpose of reducing its value. That's not the case.
Quote:
"The former minister, Jabbar, confirmed today, Wednesday, that the Iraqi dinar is on the way to floating..."
...this is good news believe it or not. I'm not talking about how the dinar is gonna lower in rate...
...right now the dinar is pegged. That's a fixed exchange rate against the U.S. dollar...if it floats then what determines its value is gonna be based on supply and demand and market...this is good. As Iraq gets their crap together and the better they do the more valuable the currency becomes...we want this. We've been saying this for a long time. We need them to unpeg from the U.S. dollar which is a fixed exchange rate. Which is manipulated by the government and we want them to go into a floating exchange rate...just like that it can jump up in value...if we get this you'd be surprised what will happen to the dinar once the government is established. Once they're stable and there's no more protesting the dinar would just keep going up and up...
...I did find out Iraq is not under sanctions anymore...I think what we're waiting for is the United Nations moving them out of Ch 7 into Ch 8. Recognize the currency internationally so that it would add a lot of value to the Iraqi dinar for them to be able to start doing business on a more International level...
______________________________________________________
sandyf
...I read the IMF publications...The IMF started a concerted effort in the mid 90's to get countries into Art 8, but to date Iraq and about 16 others have resisted the pressure. If Iraq wanted to be in Art 8, it could do so very quickly. At the end of the day the so called auctions are related to Iraqi revenue and as long as the revenue is foreign currency based the auctions will remain. Floating the currency is always an option to any country, when the currency is in trouble it is often seen as preferable to multiple devaluations. Iraq is being pushed along the same road as Egypt and that currency lost 50% of it's value overnight.
______________________________________________________
MarkZ
We are sitting here positioned…everything is ready…noone has been paid yet…
[Will the IQD float today?]
We are told the IQD is supposed to unpeg from the US dollar and start floating today…we are watching it closely. I think today will be an evolving news day.
______________________________________________________
Vital Brad
There's just too many thing right now pointing to what we've been waiting for. Here we are beginning of March a lot of people say in March is gonna be a really big month hoping for a reinstatement of their currency. Coming up on the beginning of the second quarter April 1st - potentially a time when they can transition to a new fiscal calendar. March through April is gonna be really interesting to see what happens here in the next little bit. Things are getting exciting over there. You definitely want to stay tuned...
______________________________________________________
Adam Montana
...The world, and the world markets, are treating the Corona Virus as if it were a full blown pandemic - so, whether it deserves to be treated that way or not - that's what we are dealing with. OIL is down to about $30....Stocks... don't even get me started on the markets... Iraq is vulnerable to all of these things, just like the rest of the world - and on top of that, they are dealing with a Prime Minister issue. In spite of all that... guess who's not going anywhere? Iraq, you, and me. We aren't going anywhere...
______________________________________________________
Bruce (The Big Call)
I’m not going to call it but everything that we’ve got is pointing to...(Friday) - I’m just saying, that’s what I’m getting... My understanding is things are really good – we know that the redemption centers are staffed and going in early tomorrow [Friday]...and I think we’re going to be in good shape if we just stay with this a little bit longer – may not be much longer either...I feel good about what I’m hearing...
______________________________________________________
Mountain Goat
The drama of selecting a new prime minister continues...The corona virus is not helping either. Just this week an economist came out and said they should put the dinar on a float. Really? We know this will never happen until they are ready to also raise the rate and get out of these auctions and artificially held down rate.
...we have read already many, many articles on the pros and cons of going on a float just inside Iraq. The key is they can not do it “just inside Iraq”. It can not ever happen since the IQD is on a fixed de-facto peg to the US dollar.
...This info alone should nullify such requests by these economists. Yes, the CBI has adjusted the exchange rate from time to time for inflation. This is all they are allowed to do. But this is not a “float”. A float is based on market demand and floats are on an exchange where investors can come in and buy and sell. This will never happen on the artificial rate and process of the currency auctions window at the bank. It is all just talk, talk and more BS from people not responsible for the monetary policy of Iraq or who know how to manage monetary policies for countries.
---
Iraqi Dinar Revaluation and Global Currency Reset News | Dinar Chronicles
Courtesy of Dinar Guru
______________________________________________________
If you wish to contact the author of any reader submitted guest post, you can give us an email at UniversalOm432Hz@gmail.com and we'll forward your request to the author.
______________________________________________________
All articles, videos, and images posted on Dinar Chronicles were submitted by readers and/or handpicked by the site itself for informational and/or entertainment purposes.
Dinar Chronicles is not a registered investment adviser, broker dealer, banker or currency dealer and as such, no information on the website should be construed as investment advice. We do not support, represent or guarantee the completeness, truthfulness, accuracy, or reliability of any content or communications posted on this site. Information posted on this site may or may not be fictitious. We do not intend to and are not providing financial, legal, tax, political or any other advice to readers of this website.
Copyright © 2020 Dinar Chronicles
Kaperoni
Can I tool [toot ?] my own horn? Ok here you go...
Article:
"Former minister: Iraqi dinar on the way to "float"
Quote:
"the Iraqi dinar is on its way to float (i.e. reduce its value), and the Iraqi government may have to increase the exchange rate of the dollar to 1250 dinars against the dollar in order to obtain additional funds estimated at 4 trillion dinars in the budget and this matter is positive because it will allow encouraging the national industry because it will raise the value Imported goods and makes domestic competitive."
Maybe some of you will study monetary policy now... I do agree that under the current conditions it will probably devalue the dinar. That is why I have stated numerous times that is important that they create the conditions to launch a market economy first. If Iraq wants to succeed at raising the value they need to create a market economy, have a gov in place, cabinet and pass laws that investors will come and participate.
[Guru] sandyf...For the most part you are correct. [reference Guru sandyf post 3-13-2020] Iraq could accept Article VIII, but fear plays a part since it is a one way decision. The IMF does not allow a country to return to Article XIV once accepting VIII. I...expect sooner or later if they want to diversify their resources they will accept it. As for floating the currency, it is the natural progression to get off the peg once they create the conditions for a private sector/market economy. That would be called an "orderly exit." Currently, due to a lack of a prime minister, a cabinet, the laws needed along with low oil and Coronavirus it is creating the "perfect storm" for Iraq's economy and speeding up the transition. In fact, often called a "disorderly exit." I am not a fan of this situation but it is what it is and we will have to see what the CBI decided to do...wait for the perfect conditions or just throw the oars in the water and row for a few months until this passes.
...I do expect if they choose this now for it to devalue some, but not much or for very long. Predictions are 1300-1350 to $1. One thing is for certain though. There is no RV or RI about to happen...
______________________________________________________
Pimpy
Is this right? Is there an article out there saying that we finally have Iraq heading towards a floating rate? This can't be? When I found out about this I almost lost my poop...
Article:
"Former Minister: Iraqi Dinar On The Way To "Float"
...we want the Iraqi dinar to float. Yes we do! This article says for the purpose of reducing its value. That's not the case.
Quote:
"The former minister, Jabbar, confirmed today, Wednesday, that the Iraqi dinar is on the way to floating..."
...this is good news believe it or not. I'm not talking about how the dinar is gonna lower in rate...
...right now the dinar is pegged. That's a fixed exchange rate against the U.S. dollar...if it floats then what determines its value is gonna be based on supply and demand and market...this is good. As Iraq gets their crap together and the better they do the more valuable the currency becomes...we want this. We've been saying this for a long time. We need them to unpeg from the U.S. dollar which is a fixed exchange rate. Which is manipulated by the government and we want them to go into a floating exchange rate...just like that it can jump up in value...if we get this you'd be surprised what will happen to the dinar once the government is established. Once they're stable and there's no more protesting the dinar would just keep going up and up...
...I did find out Iraq is not under sanctions anymore...I think what we're waiting for is the United Nations moving them out of Ch 7 into Ch 8. Recognize the currency internationally so that it would add a lot of value to the Iraqi dinar for them to be able to start doing business on a more International level...
______________________________________________________
sandyf
...I read the IMF publications...The IMF started a concerted effort in the mid 90's to get countries into Art 8, but to date Iraq and about 16 others have resisted the pressure. If Iraq wanted to be in Art 8, it could do so very quickly. At the end of the day the so called auctions are related to Iraqi revenue and as long as the revenue is foreign currency based the auctions will remain. Floating the currency is always an option to any country, when the currency is in trouble it is often seen as preferable to multiple devaluations. Iraq is being pushed along the same road as Egypt and that currency lost 50% of it's value overnight.
______________________________________________________
MarkZ
We are sitting here positioned…everything is ready…noone has been paid yet…
[Will the IQD float today?]
We are told the IQD is supposed to unpeg from the US dollar and start floating today…we are watching it closely. I think today will be an evolving news day.
______________________________________________________
Vital Brad
There's just too many thing right now pointing to what we've been waiting for. Here we are beginning of March a lot of people say in March is gonna be a really big month hoping for a reinstatement of their currency. Coming up on the beginning of the second quarter April 1st - potentially a time when they can transition to a new fiscal calendar. March through April is gonna be really interesting to see what happens here in the next little bit. Things are getting exciting over there. You definitely want to stay tuned...
______________________________________________________
Adam Montana
...The world, and the world markets, are treating the Corona Virus as if it were a full blown pandemic - so, whether it deserves to be treated that way or not - that's what we are dealing with. OIL is down to about $30....Stocks... don't even get me started on the markets... Iraq is vulnerable to all of these things, just like the rest of the world - and on top of that, they are dealing with a Prime Minister issue. In spite of all that... guess who's not going anywhere? Iraq, you, and me. We aren't going anywhere...
______________________________________________________
Bruce (The Big Call)
I’m not going to call it but everything that we’ve got is pointing to...(Friday) - I’m just saying, that’s what I’m getting... My understanding is things are really good – we know that the redemption centers are staffed and going in early tomorrow [Friday]...and I think we’re going to be in good shape if we just stay with this a little bit longer – may not be much longer either...I feel good about what I’m hearing...
______________________________________________________
Mountain Goat
The drama of selecting a new prime minister continues...The corona virus is not helping either. Just this week an economist came out and said they should put the dinar on a float. Really? We know this will never happen until they are ready to also raise the rate and get out of these auctions and artificially held down rate.
...we have read already many, many articles on the pros and cons of going on a float just inside Iraq. The key is they can not do it “just inside Iraq”. It can not ever happen since the IQD is on a fixed de-facto peg to the US dollar.
...This info alone should nullify such requests by these economists. Yes, the CBI has adjusted the exchange rate from time to time for inflation. This is all they are allowed to do. But this is not a “float”. A float is based on market demand and floats are on an exchange where investors can come in and buy and sell. This will never happen on the artificial rate and process of the currency auctions window at the bank. It is all just talk, talk and more BS from people not responsible for the monetary policy of Iraq or who know how to manage monetary policies for countries.
---
Iraqi Dinar Revaluation and Global Currency Reset News | Dinar Chronicles
Courtesy of Dinar Guru
______________________________________________________
If you wish to contact the author of any reader submitted guest post, you can give us an email at UniversalOm432Hz@gmail.com and we'll forward your request to the author.
______________________________________________________
All articles, videos, and images posted on Dinar Chronicles were submitted by readers and/or handpicked by the site itself for informational and/or entertainment purposes.
Dinar Chronicles is not a registered investment adviser, broker dealer, banker or currency dealer and as such, no information on the website should be construed as investment advice. We do not support, represent or guarantee the completeness, truthfulness, accuracy, or reliability of any content or communications posted on this site. Information posted on this site may or may not be fictitious. We do not intend to and are not providing financial, legal, tax, political or any other advice to readers of this website.
Copyright © 2020 Dinar Chronicles
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