Nelson0528

Dubai... cashing in...

The reason the IQD is pegged to the USD; is due to the fact that most of their revenue (90%-ish) is generated from the sale of oil... which is sold conveniently enough for petro-dollars... which is USD primarily (although quite a few countries are slowly shifting to buying and selling oil with other currencies now)... So, when they convert their "paychecks" from oil; the CBI (who governs the exchange rate) sets the exchange rate and holds the auctions to convert the funds... not the "absolute" mechanism; but a relatively simplified idea of how it occurs....

Boy, the subject matter has lost its way!... :-)

The Dinar is a monetaray unit, not a piece of paper. If you remove the 000's from the Dinar (monetary unit); then the notes (Paper currency) are not affected in a quantitative sense. 1 is still 1, 250 is still 250, 25,000 is still 25,000. In fact, a note is just that... a note promising a value equivalent to the corresponding quantity of units that is printed on it. It is the VALUE that is affected. So, really there shouldn't be too much confusion about what this is saying. A Dinar is a Dinar is a Dinar... no matter what value they set for it... Personally, I am still confident that things will work out favorably; even though the information that comes out is extremely confusing on its best day! Peace and Prosperity to you all! Nelson

Interesting... very... interesting...

hhhmmm... lets see if this holds up to the test...

"Deputy Governor of the Bank of the appearance of Mohammed Saleh that » the reason to postpone the implementation of the project came; to end the lack of the necessary preparations, in addition to the request of the Government of the bank to wait in its implementation" How bout THIS interpretation?... Sounds like a solid delay in the current environment over there. Subject to change hourly of course.... LOL

Amazing what they are choosing to focus on these days. You cannot have morality through chaos! Dear GOI, PLEASE seek treatment immediately for your recto-cranial inversion affliction! We have some great Doctors who can do some amaxing things in the West!... Oh yeah, so do you!... Please see Dr. Shabibi immediately! That is all... N

Just wondering who Dr. Jawad Kazem al-Bakri really is... Lots of faith in his 2011 Proposal paper to the MoF floating around right now (The source for the Kaperone quotes in the beginning of the thread). Kap seems to think he is the one telling the way. Can't find much info on him; except that he hosts symposiums for the CBI and he is a Management and Economics Professor at UofB. Has anyone else been able to dig up any credible sources with information on him? I personally have had a hard time putting much faith in his "Proposal Paper" he submitted to the MoF back in 2011. Was this just an effort to influence the process?.. or does he really have influence within the CBI?... Any additional insight or findings would be awesome!... :-) Regards, Nelson

Just wondering who Dr. Jawad Kazem al-Bakri really is... Lots of faith in his 2011 Proposal paper to the MoF floating around right now. Kap seems to think he is the one telling the way. Can't find much info on him; except that he hosts symposiums for the CBI and he is a Management and Economics Professor at UofB. Has anyone else been able to dig up any credible sources with information on him? I personally have had a hard time putting much faith in his "Proposal Paper" he submitted to the MoF back in 2011. Was this just an effort to influence the process?.. or does he really have influence within the CBI?... Any additional insight or findings would be awesome!... :-) Regards, Nelson

The term "Christmas Bonus" is a misinterpretation of a one-time unique disbursement for the Holy Celebration and Feast celebrating the end of Ramadan (Their Holy Month). Indeed it would be the equivalent of our Western "Christmas Bonus". It is given to all citizens as a gesture of hope, peace and prosperity for the country of Iraq; and to help fund the associated Eid Al Fitr celebration for all muslims. I'm sure this is just a refresher on Muslim 101 for most. For the rest, hope it helped clarify some of the confusion over what this act actually represents. Cheers!

uh... wow... we should have just made them a provincial territory...

Can we move this generally negative and disrespectful exchange to the Religion Forum?... Oh yeah, thats right, we dont have one on here... Motion to close this thread on the grounds that it is in the News section and has failed to address any real news... Thanks for the original post!.....

All they are saying is that when they remove the 000's from the notes; the exchange rate will be 1.170 (note the shift of the decimal three places to the left) dinars to the dollar, or value of just under a buck (1.00/1.17= 85.5 cents). There is no special insight here. Nothing magical about the claims. It is simple math. What we need to be watching for are increases in the exchange rate not redenomination. Hang in there though; it cant stay static forever! Cheers!!!

What do you mean?...

I thought it sounded more like they were postponing the 2nd reading of numerous bills... ugh!... arabish...

I wondered where my other eye went missing to...

Another incorrect assumption. Bring something positive next time, please. This is supposed to be a supportive and cooperative forum. Not a forum for belittling people. Your post serves neither of these tenants. Thank you for continuing forward in a more positive light. Whirled Peas for all!!!

I think IchDien has been misinterpreted. REad the post again. I beleive we are all agreeing to the same concepts here. I think it was actually pointed out that the statement "all Arabs hate America" is simply not true and that everyone is an individual. I don't feel that the post was a statement of condemnation on anyone; unless of course you actually beleive that all Arabs hate Americans. In which case, you would be wrong.

Yes, and just like here in the US, the child does what it wants. The IMF, the UN and all the other "parental" entities are only there as guides. They really cannot impose much with regard to Iraq's Sovereignty.

Just more lip service from Maliki? I sure will be glad when they finally resolve this. It is just crazy they have not placed the highest of priorities on this one...

Exchange rate is a soveriegn responsibility. Wholly owned by the GOI, and delegated through Constitutional Law to the CBI. The funds transfer restrictions are in place to prevent foreign entities from collecting their profits before all local and national legal, licensing, tax and tariff obligations are met. Nice find though. It definitely shows they are proceeding in a positive direction!! Happy Hump Day EV1 !!!

While most probably had the same initial reaction; isn't it a little culturally insensitive to bother putting it in print?... shouldn't the peace process start within?... okay, gotta go find some day labor to clean the yard. BBS I'm only joking. I do my own yard! lol

It's trickery I tell ya!... Maliki is up to something!...

What a great way to keep the Kurds at bay; and not stirring up stuff while the alliances that will make them inconsequential are forged between Maliki and the New Iraqiya blocs. Curious I say!... Not really... God help us all!!...