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Nakida

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  8. Puzzle With Half The Pieces

    in Opinions, Perspectives, and Your Two Cents on the Iraqi Dinar

    Posted

    3-21-2012 SWFloridaGuru: There were reports yesterday that Maliki resigned. If these reports are true and were interpreted correctly we will know today. It will be world news. There have also been rumors that the NC has already taken place or is currently underway. They may be hiding this from our eyes for security purposes but I have seen no proof of this myself. It was announced today if the government didn't implement Arbil agreement, the Iraqiya bloc would withdraw it's ministers in 3 days. We are also seeing an accelerated push to gain a consensus and resolve the differences that exist between the Parliamentary groups regarding the HCL law after the Security Council made some modifications. The Summit is still on track for the 29th with preliminary meetings held on the 27th and the 28th. Despite the significant challenges Iraq has faced in achieving economic stability, they have made a ton of progress and for the first time are in a position to re-institute an exchange rate that represents their true wealth. Iraq is moving to become the leader among major oil producing countries as well as the world’s largest swing producer. They are currently negotiating contracts with the large oil companies on compensation. We are seeing record spending from Iraq where the total spending is greater than the capacity of the economy and productivity when prices are outside the scope of balances. We believe deals have been struck and debts have been forgiven under agreements related to the upcoming rate change and investments therein. There have been rumors the RV is done and in the banks since June. So, this is nothing new. It's very simple, when the BIS releases an adjusted rate or basket of rates back to all the central banks, then it will be done. It will be very easy to confirm and it won't be a secret. Random, dummy rates and numbers for testing purposes have nothing to do with actual rates. If this were the case we would have insider trading, corruption and runs on currency. However, the rampant rumors and frequent reports do have some validity in the sense that this joint effort has required much testing and necessary steps taken in preparation which have been observed by different agencies and led to confusion. Just because someone works at a 3-letter agency or is a high level banking official does not mean they are privy to date or rate information. If the contact is solid, usually while admitting the process underway, they will also be the first to explain the complexity and admit they don't have all the answers. Daily RV predictions are unnecessary. Iraq has made it clear what their goals are: Ensure the stability of the dinar by increasing its value to become more competitive with the USD, contribute to economic growth, rebuild their banking sector, modernize the Iraqi economy, enter the WTO with full ascension and maintain a stable, competitive, market-based system. 9 years later... here we are, finally! Our best shot for an RV/RI to date is between now and the Summit.

    Awesome post!!!!! Thank you

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