Thread: Iraq/Dinar News. 09/05 to 01/14/07

Originally Posted by Adster

Agreed WM. The Kurds lead the way, always have. IF we'd had a Kurdish government we'd all be sitting on the beach with a cold one.

Anyway, yes, correct the new budget starts 15 December so a reval should be in place before then.

Thanks.

Disclaimer, I used the word 'should' be in place by then. LOL.

Adster, sorry I must have missed it but do you have a link that states the Iraqi budget starts on December 15th? Thanks

Ok sounds good, now we are looking towards 15 Dec 06. Come on R/V.
WOO HOO.
LIT

I have the grease gun for the wheels to our roller coaster!

LawkSalih.Com - Kurdistan Region's Central Bank director remarks on state of the dinar

Originally Posted by Adster

15/12 Al. Fits in nicely with the IC and the long awaited fil and oil law.....hhmmm.........

Let put that grease on the tracks ahead and not behind!

Translated version of http://www.alsabaah.com/paper.php?source=akbar&mlf=interpage&sid=33476

CharmedPiper posted the info about the CBI being in a position to buy back dollars. Why would the CBI say that? It would be silly of them to go through this whole process of collecting as many dinars out of the economy as possible, just to turn around and sell them back to the banks. Now that the CBI has all these dinars, the next step is to collect dollars because it's dollars they are going to need when all of "us" start to exchange our currency. There has to be a reserve of foreign curency somewhere for the CBI to absorb all the dinars that will be coming back into the country. Now, they can't start to collect dollars at the same rate that they bought dinars because that would be a zero sum gain for them. It seems to me the only way they can turn this formula into their favor is to control the exchange rate. As others have said, 2 or 3 dinars at a time is not going to do it once they embark on the dollar collection phase of this plan. They are in the drivers seat and all logic would point to a higher exchange rate for the dinar for them to be able to come out on top. As long as the CBI keeps making statemens like they did today, at least we can get an inkling of what their strategy is. We sure are in an interesting time !!

Originally Posted by Caddieman

I got a question. Now the CBI is going to be putting dinar back in circulation by buying back the US dollar. I thought we decided they were taking dinar out of circulation the past month. I don't get it?

Sounds like the banks need a surplus of dinars to continue day to day business for obvious reasons, but notice how only a few of them were involved in the auction, this confirms it. Could also be that this is only a temporary blip and we won't see it for many auctions.....

Could also be they're saying to people, 'sell us your dollars and we will exchange for dinars', kinda like nudge nudge wink wink.

I believe this announcement they made is more for their own peoples benefit than out of country speculators.....A good sign indeed as the peoples money will only go back into their economy.

Originally Posted by Adster

Agreed WM. The Kurds lead the way, always have. IF we'd had a Kurdish government we'd all be sitting on the beach with a cold one.

Anyway, yes, correct the new budget starts 15 December so a reval should be in place before then.

Thanks.

Disclaimer, I used the word 'should' be in place by then. LOL.

You know I'm liking the Professor Rumor more and more each day...

Originally Posted by motomachi

I think it all depends on what the need is at that time; it might be just to cover a small deal or a bank transfer, but then maybe now and the reverse is the "2007 Budget Plan" Implementation Date!

Tomorrow's auction should tell a tale. If the banks are expecting a reval and the CBI is again selling dinar then we should see a massive amount re-enter the system now that the banks are the wiser.

I still say today or tomorrow for the reval....and I won't budge until December 1 and I only have to be right once....

Originally Posted by Inscrutable

Adster, sorry I must have missed it but do you have a link that states the Iraqi budget starts on December 15th? Thanks

More Susies department, not sure where in the history pages it is!!!

Originally Posted by CharmedPiper

I still say today or tomorrow for the reval....and I won't budge until December 1....

Good for you CP. Its now or never baby !!!