READ!!!...Iraq Dinar...Went from Fixed to Floating Exchange...

[lotsofdinar]

With all due respect, if you are of the opinion that this investment will take approximately ten years to net a 20 or 30 percent gain, why do you spend so much time debating with others now?"

Is this the "Go Rv" board or or one where the various ideas that are out there are welcomed? Debate brings out different ideas.

As for why now, the process that Iraq is going through is as interesting to me as the outcome. Folks keep saying nobody knows how this will turn out, but it seems to me that in reality they have made up their minds and would rather not hear anything else.

[4aprofit]

At this same link, as yesterday, now again, half way down the page, where the red bull is on the left, it say's today...

This is what is shown today.......

Bullish Bearish Pitches

Jan 19, 2012

There are some good indications for movement on the dinar.

http://www.forexpros.com/currencies/usd-iqd

This is what was shown yesterday.........

Bullish Bearish Pitches

Jan 18, 2012

CBI has changed setting from fixed to float.

Note: Some tried to say that the dinar has'nt went on a float, and/or tried to depict that I said this or that...I never said ANYTHING...Forex did...whether it's true or not!

[SPRAYERDUDE]

The Dinar is not floating. It is tied at the hip to the Usd. The CBI is firmly in control of the exchange rate.

I got news for you, the Dollar has been going up for a while now? so why now and not all along? At this point in time I wouldn't dismiss any positives with all the news lately!!

[SSI]

With all due respect, if you are of the opinion that this investment will take approximately ten years to net a 20 or 30 percent gain, why do you spend so much time debating with others now?"

Is this the "Go Rv" board or or one where the various ideas that are out there are welcomed? Debate brings out different ideas.

As for why now, the process that Iraq is going through is as interesting to me as the outcome. Folks keep saying nobody knows how this will turn out, but it seems to me that in reality they have made up their minds and would rather not hear anything else.

I gotcha. The process itself has also become my primary focus as well, and while I do not know the ultimate outcome, I do think it will soon present itself. I was just curious and thought I had a valid question considering your comments. I wasn't trying to start anything as I respect your opinions.

[lotsofdinar]

Appreciate your response, SSI. Investing of any kind requires a kind of cold hearted objectivity that seems lacking in Dinar speculation. In the words of Faulkner, “In writing, you must kill all your darlings.” The same applies to investing.

[MrFnHappy]

It wouldn't be surprising. The U.S. govt. currently spends $10 billion a day just to function.

Rock, I was attempting to be sarcastic, but it's sometime difficult in print.......

Thanks. So yes (it is traded as an exotic) but no (because it costs more to trade it).

Would I be right in assuming that it is pretty safe to say that the dinar has not been floated? That would be pretty big news and I'm sure it would have been in the media.

So. Something happened in the last couple of days, because the CBI changed the rate.

The latest info I could find from the IMF said:

II. DEFINITIONS

3. For purposes of monitoring under the program, a program exchange rate will be

used. This program exchange rate will be set at ID 1,170 per U.S. dollar. The program

exchange rate will be used to convert into Iraqi dinars the U.S. dollar value of all CBI foreign

assets and liabilities denominated in U.S. dollars, as required. For CBI assets and liabilities

denominated in SDRs and in foreign currencies other than the U.S. dollar, they will be

converted in U.S. dollars at their respective SDR-exchange rates prevailing as of

December 31, 2010, as published on the IMF’s website.

http://www.imf.org/external/np/loi/2011/irq/030311.pdf

So........does the CBI need the permission of the IMF to change the rate? I know that they have changed the rates previously, but I'm just wondering if they are still under a special IMF Program, do they need permission from the IMF to change their buy and sell rates of the currency?

Section 2. General exchange arrangements

(a) Each member shall notify the Fund, within thirty days after the date of the second amendment of this Agreement, of the exchange arrangements it intends to apply in fulfillment of its obligations under Section 1 of this Article, and shall notify the Fund promptly of any changes in its exchange arrangements.

( Under an international monetary system of the kind prevailing on January 1, 1976, exchange arrangements may include (i) the maintenance by a member of a value for its currency in terms of the special drawing right or another denominator, other than gold, selected by the member, or (ii) cooperative arrangements by which members maintain the value of their currencies in relation to the value of the currency or currencies of other members, or (iii) other exchange arrangements of a member’s choice.

© To accord with the development of the international monetary system, the Fund, by an eighty-five percent majority of the total voting power, may make provision for general exchange arrangements without limiting the right of members to have exchange arrangements of their choice consistent with the purposes of the Fund and the obligations under Section 1 of this Article.

Section 3. Surveillance over exchange arrangements

(a) The Fund shall oversee the international monetary system in order to ensure its effective operation, and shall oversee the compliance of each member with its obligations under Section 1 of this Article.

( In order to fulfill its functions under (a) above, the Fund shall exercise firm surveillance over the exchange rate policies of members, and shall adopt specific principles for the guidance of all members with respect to those policies. Each member shall provide the Fund with the information necessary for such surveillance, and, when requested by the Fund, shall consult with it on the member’s exchange rate policies. The principles adopted by the Fund shall be consistent with cooperative arrangements by which members maintain the value of their currencies in relation to the value of the currency or currencies of other members, as well as with other exchange arrangements of a member’s choice consistent with the purposes of the Fund and Section 1 of this Article. These principles shall respect the domestic social and political policies of members, and in applying these principles the Fund shall pay due regard to the circumstances of members.

[FishMan1969]

I believe this is just an area for member comments on bullish or bearish opinions. In this case, an idiot opinion IMHO.

No proof anywhere in the universe to back this statement up that I have seen yet.

Just like the comment next to it that states Ch 7 Must be released before an RV can occur. WRONG. They just changed the value on the CBI site Tuesday without Ch 7 being lifted, so these are opinions from members that may not be studied up on the dinar RV or cannot process logical information.

JMO

SEE ATTACHED SCREEN SHOT BELOW!!!!

At this same link, as yesterday, now again, half way down the page, where the red bull is on the left, it say's today...

This is what is shown today.......

Bullish Bearish Pitches

Jan 19, 2012

There are some good indications for movement on the dinar.

http://www.forexpros...rencies/usd-iqd

This is what was shown yesterday.........

Bullish Bearish Pitches

Jan 18, 2012

CBI has changed setting from fixed to float.

Note: Some tried to say that the dinar has'nt went on a float, and/or tried to depict that I said this or that...I never said ANYTHING...Forex did...whether it's true or not!

[umbertino]

I was being facetious...........

But your right..... just ignore him....I am....

I try to read everything myself...The more viewpoints the better.... But that's me.

Why did Adam Montana send the VIP members an email about this rate change if it isn't a good thing

He sent that email to everybody... Twice infact.

What do you mean by this?

All the guy is pointing out is that the CBI can change the rate against the dollar depending on their financials, but that it doesn't mean that they are now a floating currency.

Iraq has never had a floating currency. It has always had a fixed value, first to the British pound and then to the USD. Saudi Arabia, UAE, Bahrain and Oman are perfect examples of countries whose main source of income is petroleum that keep their currency pegged to the currency their petroleum is priced in. Even Kuwait's currency is based on a basket of currencies and does not float.

lotsofdinar is not stirring any pots, just pointing out what is and what isn't. It's just that some people don't want to hear it.

Thanks.

[RICK C]

I don't care whether it;s Vanilla or Chocolate Just send me a FLOAT TODAY FOR A BUCK PLEASE.

[RodandStaff]

At 1166 to 1 Its Still Floating A Biscuit ! At 1 to 1 I Can Get It To Float A New Yacht !

B)

So where is this yacht heading and do you have enough room for, say.... the whole DV family???

Say... how many Dinarian's does it take to shink a ship anyway???

Edited January 19, 2012 by RodandStaff

[fnbplanet]

No float. It's called a crawling peg, controlled strictly by the CBI.

[pocono]

Found this on another Dinar site and can't post a link.....search.. ' Shabibi explains exchange rate regime for Iraq ' and it should take you there.

He states that the CBI is the ONLY party that controls the rate and the system used is called a "managed float system" and is monitored closely to adjust when a tangible change occurs....it is linked to the supply and demand of the U.S.dollar..

[SgtFuryUSCZ]

[quote name='RodandStaff' date='19 January 2012 - 09:04

Say... how many Dinarian's does it take to shink a ship anyway???

***///

....None - just 1 Italian Captain.....

[RodandStaff]

***///

....None - just 1 Italian Captain.....

... ouch, ya got me there! Man, they should come up with some creative way to deal with that dude, abandoning ship like that. I just heard tonight on the news that it was the passengers who called it in... the coast guard radioed the ship 1/2 hr. after they hit and they wouldn't admit anything was wrong. I think they should let the survivors decide his fate!

[KiaKaha]

I found out yesterday that a couple I went to church with 8 or 9 years ago were among the survivors. Small world, to see the news link.

KK

[Stryker365]

I try to read everything myself...The more viewpoints the better.... But that's me.

He sent that email to everybody... Twice infact.

Thanks.

Good to know someone likes the way this guy/gal puts out his/hers opinion, I'm just not one. Don't mind reading anyone's opinion, just don't like the way this individual states theirs. See by me responding to you means I don't even mind yours, and by the way its my right to ignore anyone I choose to including him, you and HopefulTxn. This is an example of why God gave individuals the ability to pick their own friends.....

choose/CHo͞oz/

Verb: Pick out or select (someone or something) as being the best or most appropriate of two or more alternatives

Have a nice day........

No float. It's called a crawling peg, controlled strictly by the CBI.

Bingo.....my friend........

Edited January 20, 2012 by Stryker365

[Stryker365]

... ouch, ya got me there! Man, they should come up with some creative way to deal with that dude, abandoning ship like that. I just heard tonight on the news that it was the passengers who called it in... the coast guard radioed the ship 1/2 hr. after they hit and they wouldn't admit anything was wrong. I think they should let the survivors decide his fate!

It makes a person wonder if they are doing enough sociological testing on these captains that control the outcome of so many people....

Edited January 20, 2012 by Stryker365

[SgtFuryUSCZ]

It makes a person wonder if they are doing enough sociological testing on these captains that control the outcome of so many people....

***///

I had the wife of the fella (a broken man - never qualified to be anywhere near a ship's bridge) on duty on the Exxon Valdez the nite of it's infamous AK demise- working for me as a temp many years ago.

I took them to a Japanese rest for dinner, loosened him up on hot sake and heard an ear full about what a bunch of drunks these captains are. (of course by this time, this guy was well on the way to destroying his own liver according to his wife...).

He told me that they rely too much on the technology and entrust these ships to less qualified individuals -even though it's wrong to do so- all the time.