Enorrste Posted March 3, 2010 Report Share Posted March 3, 2010 (edited) You are not going to believe this!I must apologize to all for not having posted this yesterday afternoon. As it turns out I had made a commitment to drive 75 miles one way for dinner. Of course the dinner led to “after dinner drinks” and before you know it, I spent the night. Then today I was on the road all day until just now.However, I am back and have a wonderful surprise for you all.Let’s start with Maliki’s statement from 3 days ago:28 February 2010“Iraqi Prime Minister Nouri al-Maliki said on Sunday that the process to re-evaluate the Iraqi dinar has to do with economic conditions that have to be strengthened. "’The Iraqi dinar has all the reasons to grow stronger thanks to an increase in revenues and development of the economy,’ Maliki said in response to some questions through the National Information Center."’The government would not rush matters but would rather work on finding all the guarantees to render this measure a success. The Central Bank of Iraq (CBI)Central Bank of Iraq (CBI) is currently entrusted with drawing up a study on the whole issue and would give its decision soon,’ said the Iraqi premier.“The Iraqi dinar's exchange rate is suffering from low value against foreign currencies as a result of decades of wars and economic embargo that brought the local currency's exchange rate to the rock bottom from three dinars per dollar in the late 1970s and 1980s to 3,000 dinars per dollar after the 1990 invasion of Kuwait, followed by a 13-year crippling sanctions regime.“The exchange rate fell even more after 2003 to reach 1170 dinars per dollar due to the CBI's policy of daily auction, in effect for more than five years now.“The policy was lambasted by several economists on the grounds that these auctions do not give the real value of the country's local currency. Edited March 3, 2010 by grumpy Link to comment Share on other sites More sharing options...
NotReallyTex Posted March 3, 2010 Report Share Posted March 3, 2010 AWESOME !!!Thanks for the help and all you do Link to comment Share on other sites More sharing options...
Rxkoogs Posted March 3, 2010 Report Share Posted March 3, 2010 Great post... thanks for the hard work Link to comment Share on other sites More sharing options...
jwb Posted March 3, 2010 Report Share Posted March 3, 2010 Commendable, and more important: BELIEVABLE! Thanks, Steve. Link to comment Share on other sites More sharing options...
George2351 Posted March 3, 2010 Report Share Posted March 3, 2010 That is a pretty cool anaysis Steve. I think that I can believe that with ease. Link to comment Share on other sites More sharing options...
coogshouse Posted March 3, 2010 Report Share Posted March 3, 2010 Thanks Steve.... I hope the rv is close..... Link to comment Share on other sites More sharing options...
venka009 Posted March 3, 2010 Report Share Posted March 3, 2010 that is a nice and cool analysis.HOPE FOR THE BEST Link to comment Share on other sites More sharing options...
Bruce Blackburn Posted March 3, 2010 Report Share Posted March 3, 2010 Steve, I sincerely thank you... I am the father of Gankans, who I am most proud of. Link to comment Share on other sites More sharing options...
Kent Posted March 3, 2010 Report Share Posted March 3, 2010 I follow the analysis and see your point (and always learn from your posts), but if Shabibi was really announcing the RV wouldn't he clearly announce it with a rate? If he really was eluding to the RV and it was understood that way one would think it would cause mass speculation. I have always assumed an RV announcement would be immediate, but a LOP announcement would be gradual and repetitive to avoid confusion. I guess I am falling back to your own hermaneutic "if the plain sense makes sense look for no other sense". Link to comment Share on other sites More sharing options...
Joe P Posted March 3, 2010 Report Share Posted March 3, 2010 Enorrste...i'm giving you a dinar or two from my stash for making my dreams come true!!!! Link to comment Share on other sites More sharing options...
gregg450 Posted March 3, 2010 Report Share Posted March 3, 2010 You are a master....... Link to comment Share on other sites More sharing options...
rootdizzol Posted March 3, 2010 Report Share Posted March 3, 2010 thanks for all the intel this makes sense see u in vegas this weekend Link to comment Share on other sites More sharing options...
Jesse Posted March 3, 2010 Report Share Posted March 3, 2010 "Before you all get in a huff because of my addition of this small word"I would love it if you were right; however, the "small" word you changed Drastically altered what was said. Again, I would love it if you were right; however, manipulating one "small word" could drastically change the meaning of any sentence. Link to comment Share on other sites More sharing options...
russ1 Posted March 3, 2010 Report Share Posted March 3, 2010 Good work Ennorste.............always using your creative mind. I sure hope your right!! Link to comment Share on other sites More sharing options...
jody2010 Posted March 3, 2010 Report Share Posted March 3, 2010 BIG E... exceptional analysis as usual! Link to comment Share on other sites More sharing options...
optommy Posted March 3, 2010 Report Share Posted March 3, 2010 Enorr,I hope you had a great dinner and stay. Welcome home! Link to comment Share on other sites More sharing options...
nuls1066 Posted March 3, 2010 Report Share Posted March 3, 2010 I agree... There's a mighty big difference between the CURRENT exchange rate and the NEW exchange rate. I'm very pleased to at least see some acknowledgement of the exchange rate, but please, let's not assume anything other than is written right in front of us. Regardless, these latest statements are a positive sign and should be treated as just that, a positive sign...nothing more and nothing less. Link to comment Share on other sites More sharing options...
emgee Posted March 3, 2010 Report Share Posted March 3, 2010 Awesome analysis! Thanks! Link to comment Share on other sites More sharing options...
Tess Posted March 3, 2010 Report Share Posted March 3, 2010 tHANKS IS THERE ANYONE WHO COULD GIVE US A CONFIRMATION OF THIS INTERPRETATION. WHAT IS THE AMOUNT YOU ARE THINKING THIS WILL BE... Link to comment Share on other sites More sharing options...
p300pin Posted March 3, 2010 Report Share Posted March 3, 2010 great work on that steve Link to comment Share on other sites More sharing options...
terr Posted March 3, 2010 Report Share Posted March 3, 2010 Thanks Steve, you always explain things really well, I truly hope you are right for so many reasons. Link to comment Share on other sites More sharing options...
cliffdin10 Posted March 3, 2010 Report Share Posted March 3, 2010 Good job on this steve! Like usual it adds more anticipation to this waiting game Link to comment Share on other sites More sharing options...
dnmoy64 Posted March 3, 2010 Report Share Posted March 3, 2010 E-Man! Thx and my analysis is Shabs opened up his mouth to some Intelligent ppl! (That would be you,E) Happy RV!!! Link to comment Share on other sites More sharing options...
jo-jack Posted March 3, 2010 Report Share Posted March 3, 2010 Awesome!!!!!!!!!!!!!! Link to comment Share on other sites More sharing options...
Fi3ry_Ph03n1x Posted March 3, 2010 Report Share Posted March 3, 2010 Sorry for the uber-pithy post, but I've got to get to work in a minute. Just a quick point before I go: Enorrste says, "As far as I know this is the first time that Maliki has made a direct statement on the possible revaluation of the dinar."This article doesn't say anything about a revaluation. It does say "Re-evaluate" as in, re-analyze.I can see how we can hope that a growth in the value of the IQD could mean an RV. I hope for it too. But the IQD grew in value from 3000:1 USD after the first gulf war to its current value of 1170, it accomplished this growth with no RV. So growth in value of IQD doesn't necessarily mean an RV. Hopefully it does, though.FP Link to comment Share on other sites More sharing options...
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