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Dinarrock

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  1. Yes all their contracts will be made in the US dollar because they couldn’t print enough dinar to actually pay in the dinar..lol.. also the dinar is not internationally traded and until they actually are and raise the value of their currency they will always use the dollar. People seem to forget that once the dinar does revalue to say a dollar for example, people assume that wow they have all this extra money to spend. That is absolutely false they have no more money to spend if the dinar is worth a tenth of a penny or the next day is worth 1 to 1 and the same value of a dollar. Raising the value does NOT create all this extra magic money! It’s a hard concept to grasp by many hence why you always see Iraq with their hand out for loans. If their value was to change to a dollar today Iraq would still be asking for the same loans tomorrow. They sell energy and oil so whatever that amount of money is they make is all they can spend hence a budget it makes zero difference what the value of the dinar is! A higher value ONLY gives an Iraqi inside that country a greater purchasing power. It does not create extra money for Iraq to spend on their debts!! Now this deal with China who knows, Iraq is going to put their hands out to any country that will give give give them money. All these other countries have forgiven most of Iraq’s debts for which we hope their wis a reason they did with maybe some currency swaps in exchange for forgiving debt but who knows. Guru’s will spin anything they can to either further their selfish cause and or to get paid somehow! A lot of this investment makes sense and should come to fruition eventually as they say but again there is a lot that doesn’t make sense. We have placed our bets and hope this stupid investment pays off in the end that’s about the best anyone can hope for. I have been involved in this crazy currency since 2005 and I have seen every excuse and every guru along the years as to why it has to happen and why it hasn’t happened yet!!! So to me if China gives Iraq all the money they need for reconstruction which personally I don’t think China has the money to do right now they have so many issues themselves with the U.S. until a trade deal gets worked out with use but again that’s my opinion. But the point is with all the money China is supposedly going to give them does that give Iraq any incentive to raise the value? If they can keep kicking the can down the road which Iraq is the best at doing that they very well may just keep the status quo. Again who knows it’s anyones guess and opinion!!
  2. Agreed LB which is why like the calculations say the dinar would be valued at a minimum of $2.47 and when you add in all of those other factors then if Iraq wants to RI to $3.22-$3.25 they should have no issue hitting that value or as they like to say value from the old glory days!
  3. Thanks DT I knew I read it yesterday too but I just found that one first today. I like your post better with all the highlights! This is HUGE folks all we need is for Iraq to pull the damn trigger!! LOL...Come on RV or RI either one works for me!!
  4. Here is one of the articles that was just posted by Yota in the news section 5 hours ago, it’s says 87 billion now unless I am reading it wrong. The central monetary and economic policies have strengthened the government's economic resilience in the face of the toughest conditions Samir al-Nasiri Articles Samir al-Nasiri Iraq's foreign currency reserves reached $ 87 billion after the government's $ 13 billion reserve was added to the Central Bank's reserves, a positive indication of Iraq's economic resilience in the face of economic crises in the most difficult circumstances. From this, we note that what has been achieved comes mainly to the exceptional efforts made by the Central Bank during the years of economic and financial crisis in supporting the national economy and securing the limits of 16 billion dollars to the state treasury to overcome the difficult conditions suffered by our country. When the Ministry of Finance takes advantage of the rise in oil prices and repay the $ 16 billion dues of the Central Bank owed by the government and thus the total reserves of the Central Bank and government reserves will be around $ 100 billion, especially if we expect to continue Oil to rise. The follower and competent is well aware that to reach this rate of foreign reserves is the Central Bank to follow the investment policies safe, which strengthened the credit standing internationally and restore confidence in the Iraqi economy and international banking relations. Underscoring the safety and success of the Bank 's strategy for the years ( 2016-2020 ) achieved .ho achievements in financing activity and activate the initiative to finance small and medium enterprises and raise the ceiling on loans to one billion dinars for each project within the objectives of the initiator e in the revitalization of the economic cycle and supportthe implementation of the objectives of the government curriculum in the fourth axis (Strengthening the economy) by achieving the objective of development banks as a goal of development. Therefore, the Bank is currently working on initiating the syndicated Islamic finance for public and private banks. In addition, the implementation of community initiatives from the Tamkeen Fund will enable the effective national experience in integrating the banking sector with society and achieving the objective of social and economic banks. The clear evidence, which can never be covered, is the continuity and stability of the exchange rate over two years and maintaining the inflation rate of less than 2%. Thus, the Central Bank, with its national and distinguished team, has been able to achieve its objectives contained in its law 56 of 2004, which is to build foreign reserves and reduce inflation and maintain. It now facilitates the strengthening of the economy and banks for development. Number of Views 134 Date Added 17/09/2019
  5. Agreed but also didn’t we just see a CBI article within the past couple of days that said the reserves are now 87 Billion! So my math says it should be $2.47 now!!! LOL
  6. SM California pumps and uses all of its own oil, they do not import any oil from outside of California. If they raise the price then it’s only for price gauging just because. The only time you see price hikes in California is when you see a fire there causing the issue at one of the plants.
  7. No it will not the Rial will Lop and go Nowhere you can take that to the bank! The US sanctions on Iran have absolutely zero to do with Iraq’s monetary system!
  8. LB and I believe you are correct! What do you think the odds are in Vegas for those 2 days...lol
  9. Yeah another great saying...I have been following the money here for 15 years and it has gotten me nowhere!! LoL
  10. This article is rehashed from over 2 years ago! All they did was put a new date on it and reprint it so it’s BS. Al-Saffar isnt even a member of this committee anymore!!
  11. Okay seems like this article is a rehash I know a couple of people that say they have seen this article before atleast back from 2017. I sometimes forget they like to recirculate old news and print it with a new date...lol
  12. Thanks Carrello that’s kind of what I thought since it’s completely contrary to everything that has been going on up to this point!
  13. Yes King Bean that about sums it up!! Their are so many corrupt politicians in Parliament and so many followers with their allegiance to Maliki and Iran it sure is wishful thinking on our part if they will ever get the monetary revaluation completed!
  14. So now the budget deficit is the reason they are going to delay deleting the three zeros...wow these people are truly worthless just like their currency! Thanks for the article Carrello but it makes no sense what these idiots say anymore, they sure can talk a good game but that’s about it as they never accomplish Shiite it seems! Unless this is a Maliki owned propaganda news piece which I am sure he is doing everything he possibly can to delay or cause trouble their so they never do anything IMO!
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