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rockfl9

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About rockfl9

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  1. CV is a living organism . It needs a warm moist surface with a flow of oxygen to propagate , like nose throat and lungs. Inhaling steam makes things worse ! DONT INHALE STEAM. Hot dry air will probably kill it but the temperature would need to be greater than 169 deg F for a period of time and your body could not stand that ..
  2. rockfl9

    NO more Aucf

    They must plan for CV Tobe as bad as Iran, but we know their health care system is disfunctional. If they don't do Auctions it means they are going to delay paying salaries. They want to delay paying IOCs. As things are oil producers will sell any oil they can at any price ,thus I expect the price will be low for a long time. If they do anything it will be to devalue and print more.
  3. The GOI must save dollars to be sure it will have enough to buy food medicine PPEs and resp irators. They can't use. Dinar for those , themarket demands dollars
  4. Iraq is supported by oil revenues. We all know that. As AM explained the MOF gives the oil money to the CBI to sell for dinar. those dinar are then used to cover the budget which is mainly salaries. But we also know that the last 10 budgets required some form of borrowing . The drsft 2020 budget planed to borrow $40Bn. The GOIs credit is not that good. Today they get 1200 dinar per dollar. At one cent they would get 100 per dollar. THINK they would need to offer 12 times the number of dollars to recieve the numer of dinar to meet the demands of the budget. BUT oil revenues ARE decreasing AND they cant control that.'. Would they dip into the CBI reserves??? That wouldn;t last a week ! Well the Dinarian would say wages and prices would have to be adjusted, but how. Iraqi wages are mandated (fixed )by law. . Setting price limits would require a new law. How long would that take? Even if they could find a way to adjust wages and prices by a factor of 12 they would only be right back to where they are today.. And they would NEED the small denoms or the economy would tank. As for the dinar out of the country the instability created would make it less desirable , no one would gamble a penny for a dinar.
  5. Of course LB. They don't want a non-Iraqi to bring in a suitcase of dinar and leave with dollars . Which poses the question of will they ever want that dinar back??
  6. This rule says that no one is allowed to carry more than 1 million in or out of the country PERIOD. If You read the CBI law it states that the IQD is to be used ONLY in Iraq. It also says that the cbi will convert IQD to another currency ONLY when it chooses to and may limit the amount of conversion. IMO They will have to remove these restrictions BEFORE the FOREX will trade IQD. There would be no legitimate market for the currency. It would be worthless in international commerce.
  7. Iranian doctors say that is underreported. Estimates of 14,000 infected ( per NY Times ). Iraq should be locking down borders . Their health care system is not prepared for this. Should see if they cancel Friday prayers.
  8. Art 3.1 of the CBI Law. says : The objective of the CBI is to achieve and Maintane Price Stability. ?????? HOW would a significant RV occur AND Not cause a major change in prices across the country ? It can't. Prices would swing dramatically.
  9. Guru Sandyf is correct . The IQD will only be worth what the CBI will pay to buy it back in the International market. But the CBI is only paying .00086 to approved Iraqis IN IRAQ. It will not buy it back from any other source AT ANY PRICE. WHY NOT ! because it is afraid of a raid on it's reserves. To change would require the GOI to change fiscal policy. Iraqs dollars are for the benefit of Iraq ONLY. That is their complete mindset. The CBi may find it advantageous in the future to adjust the rate to .001 or even 0.10. But that rate will still only stand IN IRAQ. NO non-Iraqi will benefit.! Remember D J Trump said they are the biggest bunch of thieves he has ever met. THINK why would they pay even $21 to buy back a 25K note when they could just print a new one for 6 cents!
  10. I think the oil ministry has been reporting gross sales. The operating companies get $5 per barrel AND get to recover construction costs for new wells. Note that over the last 5 years new well construction has been cut back to save money.
  11. SD. Won't it be snowing at your claim this time of year ? No country covers their currency at anywhere near 100% THESE DAYS . While the IMF expects full transparency from governments it is supporting. it is savvy enough to allow some latitude in reporting. For example Iraq has gold in its reserves but it also sells some of the gold on a regular basis . The amount is variable. P.S> Do you have any idea how dinarans believe that increasing the value of the dinar would make up for the shortfall in oil revenues ? The number of DOLLARS coming in will not change . The change would only DECREASE the number of dinar they get from the sale !
  12. SD.. The Gold Standard is not what most people think ... It was not based on gold backed currency. The Bretton Woods Accord simply set up a value for adjusting trade imbalances with a fixed value for gold. It assumed that all central bankers were honest . It was well known before the Nixon announcement that European central banks were profiting by selling their gold at the higher free market price for dollars that they used to draw on the US reserves. In essence they were stealing from our treasury. .The system we have today allows for trade imbalances to be handled at the current "bulk" market price of gold. That price is set by open market trading at the central bank level. Gold is still used to make trade adjustments . but using SDRs is more efficient.
  13. You cant have economic expansion without some amount of inflation. I don't know if that is a law of economics but it just turns out that way. Our FED looks at inflation/expansion ration as a need to adjust interest rates.. The CBI/MOF quote a low inflation rate for Iraq , Is that the result of tightly controlled growth through the auctions ? Although kept at a modest increase thru the years the MOF has bumped up the amount of dollars available lately.. Is that caused by increased prices or increased volumes ? There is on indisputable fact ---- every year they have more little Iraqis to feed.
  14. The gurus/pumpers want you to believe that there will not be any problems with going to your local bank to "cash-in :' if and when there would be an RV of the dinar . There will be #800 for "appointments " and redemption centers with trained staff to count the money and pay you with cash or check.. This to relieve you of the concern with sending your super-valuable IQD through the US mail. Well it is not going to be that easy. First the RV would be well underway IN IRAQ before you know it happened. Iraqi's get to cash in first. Second there are no prepared redemption centers , US banks don't believe in any need for special treatment. They have standard processes to exchange currency IF there is a DEMAND and NEED to satisfy clients. That is the key point of where the banks are today. WHY would they offer to buy IQD from you IF NOBODY WANTS any ?????? Just because there is an increase in the rate IN IRAQ does note translate to a need in any other country. Take the case of the 1:1 MYTH. Why spend a real 1 million USD to buy 1 million IQD ??? To do what ? Sit on it for years (?) in the HOPE the value would increase and could be sold to another who believes it would further increase!!! Who would take the risk with that much money involved??? They certainly would not just rely on RUMORS. You can take this down to 10 cents or even 1 cent and the logic is the same , no one would be asking a bank to purchase dinar for them. Now could they RV to a whole ,001 cent . YES they could , but the reason would be to cover inflation . We know that the true cost of everything goes up . But the GOI has masked those increases with subsidies and manipulating the exchange rate through the auctions. But they are running out of slack and cant hide it much longer. So the MOF/CBI has 2 choices Print more and larger notes OR bump the rate so that existing notes carry more relative value. Over time they could repeat the increases . Gradually giving more value to the same bulk amount of currency .. BUT ALAS all the time you will be loosing value in dollars invested.
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