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ReVbo
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Posts posted by ReVbo
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1 hour ago, ISAAC88 said:
Honestly when or at what date..did the 90 day provisionary begin in January
It started about three weeks ago.
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16 minutes ago, Floridian said:
The article doesn't say 25,000 IQD and 10,000 IQD.
It says 25,000 JD and 10,000 JD.
That's why I asked "what could this mean?"
I’ve seen “JD” or “JD Dinar” used in place of “Iraqi Dinar” several times over the years. I think it’s just a translator glitch. Given the exchange rate of the Jordanian Dinar, it definitely doesn’t make sense that “JD” refers to the Jordanian currency in this context.
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Delta is wrong (Or more likely, lying). I could go back and verify the street rate from January, but I don’t have to because I watch it every day. It was in the 1250 ballpark back then and has only been IMF compliant for about 2-3 weeks. That puts 90 days around mid June. The IMF may grant Iraq a hardship exception considering they were ready four years ago before ISIS blew up half the country, although I doubt it, but to declare 90-day compliance is already complete is nonsense.
Hopefully, this post will reach a few KTFA members and they won’t be up until 4:00am waiting for a change. Save the all-nighter for about June 12, folks.
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17 minutes ago, Floridian said:
ReVbo,
Did you see the post by Synopsis where he says that since Iraq's banking has been so modernized and up-to-date perhaps, with a flick of the switch, the multiple currency practice will disappear and the 90-day rule can be done away with?
I'm sure I didn't explain it right, but I hope you get the idea of what I'm trying to say.
I did. That was hypothetical, though, and while I’m sure they have the technical capabilities, they may not be allowed to per IMF guidelines.
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3 minutes ago, NEPatriotsFan1 said:
That’s why I tried so hard not to get excited
These guys have a pattern of not being able to pull their heads out of their a$$es long enough to see what’s good for their countrymen!
so we wait
Who knows, guys? Maybe there’s something to that 90-day rule Kaperoni always talks about. I’ve actually seen it in writing from the IMF as it relates to acceptance of Article 8. That puts us around about June 12-15. In the grand scheme, that’s not too bad.
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OMG. I can’t believe there are still people following that stuff.
You need to forget everything you think you know about this, OP. Those people want to steal your money.
How long have you been at this, incidentally?
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11 minutes ago, rissas dad said:
no change on any other site, leaning toward a glitch. Something changes, please post it.
Someone posted this link that has Investing.com showing 11.74 dinars to the dollar, and Bing now concurs with google at 598 dinars to the dollar.
http://dinarvets.com/forums/index.php?/topic/251777-forex-exchange-usdiqd-1175/
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Just now, Starrider said:
It could be the Dollar fluctuating again
Star
Not that much. If the dollar lost half its value against the dinar, we would be seeing similar numbers against other currencies (and bankers jumping out of windows). It’s either a glitch or it’s real.
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8 minutes ago, Tuck said:
but I am getting $0.0017 like Joe Sutherland posted, rather than $.17 - still better for sure - am I missing something in the decimals?
No, you’re not. It shows 0.0017 dollars to the dinar, or 598.87 dinars to the dollar. If true, that is a doubling of the value of the dinar vs the dollar.
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6 minutes ago, King Bean said:
Lemme guess. They're 'dancing in the streets' ??
Actually, yes. Yes, they are.
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Old Mosul operation just started less than an hour ago...
@NinevahMC 45min
A special security source confirms the Nineveh media center to start a comprehensive military operation to liberate the old area of Ayman Mosul from the control of the organization calling the terrorist
@NinevehMC 40min
Special local sources confirm the Nineveh Media Center intensified fighting between the organization calling the terrorist and military pieces in the old area of Ayman Mosul
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Thanks, DWS112. I borrowed this one and the "big boom" article. Hope you don't mind. Great finds, by the way. I don't know how you guys manage to dig this stuff up.
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48 minutes ago, jg1 said:
Bump.They forgot the part about the RV
No, they didn't.
"With the economic boom led by Iraq’s oil industry, the national currency in the form of the Dinar will eventually rise to reflect the true value of the country’s oil wealth. The rise will most likely happen when the National Bank of Iraq lifts the artificially low value placed on the nation’s currency in 2003."
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5 hours ago, Starrider said:
I don't give to much credit in what this guy posts anymore, I haven't seen any truth to come yet and with his past track record with the
I don't even wait for it anymore.
Star
Here's the interview:
http://www.alghadpress.com/news/94545/المستشار-الاقتصادي-لرئيس-الوزراء-أي-دولة-لها-علاقة
Here are the relevant quotes from Dr. Mohammed Saleh, deputy economic adviser to Prime Minister Abadi:
"...today we move from a centralized economy to a market economy, and for that there must be a sovereign wealth fund internal finances private sector"
"I am optimistic and say that after the liberation of Mosul, there will be a new path of economic reform."
"Loop" left out an important part of Saleh's quote, the qualifying clause after the part about moving from a centralized economy to a market economy, and he gave the impression that Saleh was literally talking about TODAY. He also neglected to mention the most important part of the whole interview, that second quote that gives a good time frame for when the implementation of the market economy will take place.
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2 minutes ago, tigergorzow said:
IS Leader Al-Baghdadi Asks Militants to Resort to Mountains: Source
The source says the IS leader asked militants to hide in the mountains
28/02/2017 - 22:14
MOSUL — Islamic State (IS) leader Abu Bakir al-Baghdadi has asked the members and supporters of his organization to escape and hide in the mountains, Iraqi al-Sumaria news reported on Tuesday.
The report cited a confidential source as saying that Baghdadi addressed the IS militants in a recent speech, admitting defeat in recent clashes in Mosul.
The IS outlets have not confirmed the news yet, neither they have reported the recent speech by Baghdadi.
Iraqi forces have completely controlled the eastern part of Mosul and are advancing to liberate the rest of the city from the IS militants who are cordoned off in the city, deprived of supply routes for food and ammunition.I wasn't sure about the other sources I've seen, but BasNews is legit. It's still kind of hard to believe, considering how unreliable Baghdadi news always is, but if BasNews is reporting it, this could actually be real.
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Just now, tigergorzow said:
DWS112 Thanks, DV, Excellent news so it looks like Iraq & Coalition Forces have isolated ISIS in the Western part of Mosul...No where to run or hide but either surrender or death is your only fate. Kill them all IMHO.....
They are now, indeed, surrounded. Their last escape route, to Tal Afar, has been cut off.
@loomisroberto 28m Mosul is now cut off from Tal Afar after the liberation of Damarji al-Sughra from IS by Iraqi Forces Via@iraqi_day
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Updated map as of about 30 minutes ago, courtesy of Mosul Eye on Twitter. Notice they are approaching the second bridge from the south after capturing the first bridge, called the Fourth Bridge, late yesterday.
Thanks for all the updates, Yota and tiger. I've been borrowing them.
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From 2015 (more at link):
500 billion dollars stolen under Maliki rule in Iraq: officialIraqi Commission of Integrity (CoI) spokesman Adil Nouri has claimed that half of the government's oil income and funds for reconstruction were 'stolen' and 'vanished' from Iraq during the 8-year period of office of former President Nouri Maliki.
Speaking at the Iraqi Parliament, Nouri said that around 500 billion dollars from government coffers has "disappeared" and is perhaps the greatest corruption in history.
Underlining that Iraq's oil income between 2006 and 2014 alone was only $ 822 billion, he said that the Maliki government had also received more than $250 billion in funds from many countries, namely the U.S., used to pay the salaries and pensions of Iraqi government workers and for reconstruction projects.-
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6002=2006 ?
That's right. It's the 2006 law. The translator must be dyslexic today.
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why do you say that? what pressures are iraq under to change monetary policy immediately? i would love to read a list of those pressures if you don't mind listing them.
I don't want to get into a big, long research project over this, but here's the big one, from January 30 World Bank "Plunging OIl Prices" report:
http://documents.worldbank.org/curated/en/2015/01/23884278/plunging-oil-prices
The Plunging Oil Prices report questions the practice of pegging the Iraqi dinar to the US dollar, noting the that value of the dinar has been falling against the dollar in the parallel market:
“Iraq pursues a policy of a de facto peg to the U.S. Dollar, and therefore monetary policy is constrained in tackling the current shock.
“The Central Bank of Iraq (CBI) had kept the Dinar steady through January 2009.
“In 2014, the nominal exchange rate in the official market remained stable against the U.S. Dollar at 1,166 IQD/1 USD, but the rate in the parallel market increased.
“The CBI has recently taken steps to simplify foreign exchange market regulations, but has not eliminated all existing exchange restrictions and the multiple currency practice.
“With the peg, fiscal policy carries the burden of macroeconomic stabilization, but in this case does not have the space to do so.“
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Why not all the other lower denom notes & not just the 50 note? Makes no sense.
You mean the other higher denom notes? There are no other lower denom notes. The 50 is/was the smallest they have, and the reason, as far as I can tell, is it was the only one of the current series that did not get re-printed, with better security features, last year.
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It must really suck if all your dinar are in 50 dinar bills!
Does anybody have that? $1000 worth of 50s would be 25,000 notes. Talk about bringing a wheelbarrow to the bank.
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That's a Libyan note. We went through this at DA yesterday. Don't ask me why they put pics of Libyan money in an article about Iraq. Excellent post, Trin. Float on!
Is this right?????
in Dinar Rumors
Posted
It’s a parliamentary system, Floridian, very similar to what they have in the UK and Canada and various other Western democracies, and Kap is right about how it works. That said, recent polls have Abadi’s coalition gaining 78 seats to Maliki’s State Law coalition’s 19. Maliki doesn’t have nearly as many friends in the other blocs, either, so Abadi is very likely going to remain as PM.