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

I don't mean to be a lurker. I have followed this thread for a while and really appreciate everyone's postings. I am also an invester. With all due respect, and without exception, the market always sets the price. Look at XXXX, Who cares. Use better comparison-neno, playoff tickets, the old Dinar. The market always sets the price and always will.

Sorry Nino, I am newer and missed that rule.

Scott

Now Im really puzzled. They have announced the FIL being ratified and Implmented and yet no Reval this week-end. Doe's any of our deep thinkers have a reason why this has happened? Thanks

Gloribee

Originally Posted by Gloribee

Now Im really puzzled. They have announced the FIL being ratified and Implmented and yet no Reval this week-end. Doe's any of our deep thinkers have a reason why this has happened? Thanks

Gloribee

Deep thoughts by OZ Iz OZ

I believe that the FIL has been ratified, but not enacted yet. I remember reading that 15 days after ratification that it will go into affect . . .that would land it somewhere around the 15th of December . . .give or take.

I think the dominos are all lined up, but no one has knocked the first one down yet. I hate to keep saying hold on a couple more weeks, but until they actually reval, it will always be a couple weeks away.

It killed me today, had to meet the X and pick up my stuff, but atleast I got my 10,000 diamond engagement ring back. Months ago I was looking at the reval to be the end all fix for all my problems . . .well it didnt happen then. Sometimes you have to lose it all to be able to move forward.

So the reval can happen now . . .cause I have nowhere to go but up :)

Originally Posted by arpking

What would be the point, it would get moved or edited anyway.

Well Neno apparently felt it violated a rule so he amended the post,the person who posted it initially understood why......so what's the problem?
Neno is doing his job as a Mod........nuff said!

It is more interesting to me that the water temp. in Grand Cayman was 80
degrees today, I'd rather be there!

Originally Posted by ozizoz

Deep thoughts by OZ Iz OZ

I believe that the FIL has been ratified, but not enacted yet. I remember reading that 15 days after ratification that it will go into affect . . .that would land it somewhere around the 15th of December . . .give or take.

I think the dominos are all lined up, but no one has knocked the first one down yet. I hate to keep saying hold on a couple more weeks, but until they actually reval, it will always be a couple weeks away.

It killed me today, had to meet the X and pick up my stuff, but atleast I got my 10,000 diamond engagement ring back. Months ago I was looking at the reval to be the end all fix for all my problems . . .well it didnt happen then. Sometimes you have to lose it all to be able to move forward.

So the reval can happen now . . .cause I have nowhere to go but up :)

Sorry to hear about the break up. But look at the bright side. You could sell that 10,000 dollar ring and buy 11 million dinar.

I too feel the reval coming on the 15th. There are more reasons to wait and do it at the end of the year.

One final thought... just imagine being a shop keeper in iraq on the big rv day. Let's say the rv has happened and a customer walks into your store and buys something for 1500 dinar (like a couple candy bars). The customer will be none the wiser that they just gave the shop keeper $1500 dollars (if it rv at $1). The customer won't know right away and the shop keeper won't know until they make the deposit for the day.

Hey I was just playing with my dinar and the ultraviolet light I have,.....
did you know there are little threads in the "wrapper" that only show up under ultra violet light? Well at least in the wrapper that bands all my dinars together, just thought it was kinda cool.

Originally Posted by $onedaysoon$

tooooo quite round here!!!



so here ya go!!!


The Central Bank adopted a new monetary policy to curb the phenomenon of inflation 12/3/2006

Dr. Sinan Shabibi governor of the Central Bank of Iraq that one of the causes of inflation in Iraq Eaudali increase cash in circulation, which has driven the bank to a new monetary policy aimed at improving the dollar's exchange rate towards reducing its price several points in the auction, organized by the Central Bank for daily Cji p on the demand for buying the dollar in order to withdraw money from circulation.
The Shabibi during a meeting at the headquarters of the World, It was attended by the Directors-General and officials of private banks, He dedicated for circulation in the monetary policy and the means of cooperation between the Central Bank and All banks, that goal of the Central Bank is currently limited in the fight against inflation, which amounted to about 76% and reduce the height, through the provision of better conditions for economic development and improving the performance of the banking sector and provide stability.
On the other hand, the banking source said that the meeting dealt with numerous topics, the most important of the new policy by the Central Bank which, in addition to the daily reduction of the dollar rate of exchange, an increase in the interest rate paid to banks to invest night at the Central Bank, which amount to 15% for 14 days, and 16% for one month, as well as remittances auction organized by the World Bank.
He pointed out that he also discussed with the issue of coordination with the World Bank and the Iraqi Ministry of Finance to make the correlation government banks like Central Bank sinks eligibility so as not to exceed their ministry and the administrative side only for the purpose of the ease of application of monetary policy set by the Central Bank. He noted the source conferees to note the existence of some private banks faltering what impact negatively on the rest of the banks and the payment of the Central Bank to direct governmental banks to give 10% of the appropriations have on the implementation of reconstruction programs in Iraq to the eligibility of these banks to improve their performance level.
He emphasized that a policy of the Central Bank to increase the interest rate on the investment and remittances daily auction encouraged private banks to raise interest rates on deposits of citizens to have the highest rates of interest paid by the government banks to reduce the gap between the interest rates paid by the Central Bank and the interest paid by a banks and achieve a kind of reassuring to the citizens, This will lead to increase in the volume of deposits in banks and the Central Bank Aidha for investment purposes and to participate in the auction money and thus reduce the amount of money in circulation, which helps to reduce the rate of inflation.

Translated version of http://www.newsabah.com/paper.php?name=News&file=categories&op=newindex&ca tid=20

Saw lots of thanks on this, but no response...reading through it, it seems to me they are bent on reducing inflation by removing currency from the economy (through auctions) and raising interest rates; the exchange rate increase seems to be an afterthought here...anybody else care to take a stab at it??

Originally Posted by ozizoz

Deep thoughts by OZ Iz OZ

I believe that the FIL has been ratified, but not enacted yet. I remember reading that 15 days after ratification that it will go into affect . . .that would land it somewhere around the 15th of December . . .give or take.

I think the dominos are all lined up, but no one has knocked the first one down yet. I hate to keep saying hold on a couple more weeks, but until they actually reval, it will always be a couple weeks away.

It killed me today, had to meet the X and pick up my stuff, but atleast I got my 10,000 diamond engagement ring back. Months ago I was looking at the reval to be the end all fix for all my problems . . .well it didnt happen then. Sometimes you have to lose it all to be able to move forward.

So the reval can happen now . . .cause I have nowhere to go but up :)

I agree that December 15th looks pretty good about now. Glad you got the ring back!!

I like Wm.Knowles explanation:

2. The CBI needs to control inflation. Raising interest rates is a common practice that our Fed has done over the last couple of years. It does NOT harm the economy. It is a method to "cool" the economy and is considered another method to decrease the base money supply. Not as dramatic and not as immediate as a direct intervention of exchanging currency reserves for currency in circulation, and it takes more time to be effective, but an effective tool just the same. Again, it demonstrates that the CBI has a plan.

Originally Posted by ordinaryseawoman

Saw lots of thanks on this, but no response...reading through it, it seems to me they are bent on reducing inflation by removing currency from the economy (through auctions) and raising interest rates; the exchange rate increase seems to be an afterthought here...anybody else care to take a stab at it??