Dinar News NO PLANS TO MAKE IQD 100 = $1 - CBI (released today March 03)

[spruills]

should I wallpaper the bathroom or the office? hmmmmmmm . . . . .

[taxguy]

So do we think it is better to stay where it is? Since it is according to the CBI balanced stable and can be preserved????

Do we as investors want ti preserved where it is? Seems to me the 15% movement is better than none, of course there is always my disclaimer " I am NOT an expert on currency". LOL

This is a very specific denial - the statement says that they are not going to lop so that IQD 1000 = $1. It says that they don't need to do this because the can defend the current rate. It doesn't say that they will defend the current rate for an extended period of time. I don't take it as a denial of anything other than what was specifically denied. Central bankers are very precise in their statements about such matters.

[Cohab04]

There is no plan for 1=1 because we are willing it to 3.33. GO RV

[Barbann]

This is a very specific denial - the statement says that they are not going to lop so that IQD 1000 = $1. It says that they don't need to do this because the can defend the current rate. It doesn't say that they will defend the current rate for an extended period of time. I don't take it as a denial of anything other than what was specifically denied. Central bankers are very precise in their statements about such matters.

Thank you, point well taken ps...geesh I hope you are right about the future. LOL

[Kent]

So do we think it is better to stay where it is? Since it is according to the CBI balanced stable and can be preserved????

Do we as investors want ti preserved where it is? Seems to me the 15% movement is better than none, of course there is always my disclaimer " I am NOT an expert on currency". LOL

I sure would have liked the 15%. At least it would have paid for most of what we paid the vendors to buy our dinar.

[bahtman]

Well....There certainly is a lot of smoke flying around for stuff that usually would not even get a response from any of the agencies and people in question.

[Lil' Buddy]

check this story out relating to the so called change to 1000 dinars in june. http://translate.google.com/translate?hl=en&sl=ar&u=http://al-iraqnews.net/new/iconomi/57243.html&prev=/search%3Fq%3Dnahrain%26hl%3Den%26safe%3Doff%26client%3Dfirefox-a%26channel%3Ds%26rls%3Dorg.mozilla:en-US:official%26hs%3DyfB%26sa%3DX%26num%3D100%26newwindow%3D1&rurl=translate.google.ca

[tbush]

Maybe their trying to get people to give back their investment thru scare tactics prior to the real RV value.

[jenpicou2002]

This is not good news for the very near future, but hopefully in the distant future we will see a wonderful return. lets all just hope for a not too distant future!

[taxguy]

check this story out relating to the so called change to 1000 dinars in june. http://translate.google.com/translate?hl=en&sl=ar&u=http://al-iraqnews.net/new/iconomi/57243.html&prev=/search%3Fq%3Dnahrain%26hl%3Den%26safe%3Doff%26client%3Dfirefox-a%26channel%3Ds%26rls%3Dorg.mozilla:en-US:official%26hs%3DyfB%26sa%3DX%26num%3D100%26newwindow%3D1&rurl=translate.google.ca

Point well taken. The CBI statement could be a specific denial of this story, which specifically mentioned a 1,000 rate. Thanks for posting!

[dwayne919]

I think if you drop the third letter in first word in the second paragraph it might mean something else...

[Mojo]

Point well taken. The CBI statement could be a specific denial of this story, which specifically mentioned a 1,000 rate. Thanks for posting!

WOW now there's a lot of crap being thrown around and none of it is sticking i don't get it

[mariejose]

remember we need to pay attention to their actions more so than their words

[Barbann]

http://en.aswataliraq.info/

No plans to make ID1000 = $1 – CBI

March 3, 2010 - 05:01:06

BAGHDAD / Aswat al-Iraq: There are no plans to make the exchange rate of ID1,000 equal to $1, Central Bank of Iraq (CBI) said on Wednesday.

“Iraq’s currency policies are far from such decisions,” the CBI said in a release received by Aswat al-Iraq news agency.

The CBI said that the current exchange rate, ID1,170 = $1, is balanced, stable, and can be preserved through Iraq’s foreign currency reservoir of $43 billion.

.

MH (P)/SR

I did not see a specific person lay claim to this statement like they normally do.

[tbush]

HAH HAH HAH, that is awsome that the CBI jumped on that BS real quick for a good ole fashion Debunk!!!!

http://translate.google.com/translate?hl=en&sl=ar&u=http://al-iraqnews.net/new/iconomi/57243.html&prev=/search%3Fq%3Dnahrain%26hl%3Den%26safe%3Doff%26client%3Dfirefox-a%26channel%3Ds%26rls%3Dorg.mozilla:en-US:official%26hs%3DyfB%26sa%3DX%26num%3D100%26newwindow%3D1&rurl=translate.google.ca

[longpalms]

Very seldom does an investment pay off over night--keep the faith

[jackdavis1364]

Well, I don't know what to think as we seem to be getting conflicting information from other links. But the most reliable info seems to either say that we'll move up to 1,000 IQD in June, or hold fast at 1,170, both I would assume with the managed float mechanism. But this link does confirm that the CURRENT rate of 1,170 is balanced, stable, and supported by the 43 billion in reserves. I guess we'll see what happens when it happens.

FP

in this communique they did not say that it would be left there or that it will change. He merely stated that the 43 billion will sustain the 1170. Hasn't it been decided that it will also sustain a great deal more?

[Fi3ry_Ph03n1x]

in this communique they did not say that it would be left there or that it will change. He merely stated that the 43 billion will sustain the 1170. Hasn't it been decided that it will also sustain a great deal more?

Time will tell, my friend. I guess we'll wait and see.

FP

[munster]

Let's hope it is a smoke screen...

[super]

This post is pretty plain and goes with the saying "Why fix something that is not broken"? We have read many posts that makes sense for a RV and if this post reflects the GOI's true thoughts and feelings then we are in for a long wait! JMHO

[ghaggerty]

I still believe and not just because I want to believe it, but because it's logical...a slight increase won't change the circumstances for the Iraqi people and an RF at $.10 or something like that would bring out all the major players because they know that there's no way that rate will remain at $.10 for as long as it's been where it is. They have to do something that will pack a punch or they may be asking for many "investors" to get in the game than they may be able to handle. Me, I'm out as soon as the lop and first real RV are done...I do have a job and child to care for...chasing the dream is another full time job... :-)

[chang]

Here is a better link:

http://en.aswataliraq.info/?p=127953

FP

72 Virgins + RV = Where art thou?

[bahtman]

Originall posted by Mrzjordan: ]Sources: Central Bank recovered $ 10 billion, and implement a plan to equalize the Iraqi dinar in U.S. dollars

03/03/2010 Wednesday 18 - the first spring -1431

Financial sources familiar with the "home" for the restoration of the Iraqi Central Bank to more than $ 10 billion and deposits from the former regime seized in international banks, There are efforts to restore the funds other than the value of contracts and deals signed under Saddam Hussein's regime was supplemented after the war for the invasion of Kuwait in 1990.

The financial sources familiar with "Al-Watan that" the United Iraqi Alliance bloc that nominated Bayan Jabr Zubaidi the next prime minister after the election, betting on the disclosure of such information described terms to augment the Iraqi National Coalition election, especially with the assurances of the Iraqi Central Bank study revalue Iraqi by deleting the 3 zeros from the nominal value of the current, and the U.S. dollar equivalent of one Iraqi dinar.

Mudhir Mohammed Salih, adviser to the central bank raising project yellowing of the currency promoted by the government in 2007, "Central Bank Itboukh on the backburner" and expected to see the end of 2010 or early 2011 on the development project. "

In the meantime, the central bank will continue the policy of stabilizing the exchange rate dinar to the dollar, "Al-Watan" that the central bank seeks to raise the value of the Iraqi dinar of 1180 dinars per U.S. dollar to 1000 dinars per U.S. dollars, within the month of June, and on the extent of conflict this policy with the policy of economic reform, followed by Iraq since 2003, under which the installation is a departure from the principles of capitalism Judge freely exchange rate liberalization, the central bank adviser said that "Iraq is in transition toward a market economy as it targets the central bank has worked to achieve the stability of the dinar exchange rate after The fluctuation is a concern for the citizen. "

In response to the indictment of the central responsibility of rising inflation, despite the policy followed by the installation, Saleh said that "the Central is not interested in lower prices in the marketplace but is responsible for the overall level of prices, and inflation declined in the country and income for the first time arranged to one decimal place, a 6% after was 60% even though there is no price in the world series back to back, but important that the price hikes under control. "

For its part, said an economic expert, Dr. Salama Smeisim for "home," said the leaked information from sources close to the Central Bank of Iraq can put things in different scales and different, and is considered central bank's ability to retrieve these funds from large international banks, each claimant to intervene in monetary policy, which it is exclusively the prerogative of the central bank, particularly because a lot of economic advisers in the Iraqi government demanded to borrow from Iraq's financial deposits at the central bank to cover the deficit in the general budget of the government, said Simasim must "stop such claims at a certain without encroachment on the powers of the monetary authorities. "

She stressed the importance of "keeping the rule of the dinar, above all, because the existence of such quantities of cash allows the authorities concerned to use this cash to address the liquidity shortage faced by the Iraqi budget and is the argument or excuse invoked by some in his allusions to demand the seizure of the existing stockpile of Central Bank

Editor: AlMarsad

http://www.baghdadtimes.net/Arabic/index.php?sid=58968

The only way the 2 statements in red make sense is if they first changed the value to 1000 dinar equals $1USD and then RV'd to 1 dinar equals $1 USD.

This would also make the introduction of the smaller bills a necessity. Without this larger RV (i IQD = 1USD) the smaller bills would not be required. But all the articles have already stated that this will happen before the end of the year.

Northeastdinar also agrees and makes it clear in his post: If they first make 1000 IQD = 1 USD, it will make for an easy transition to 1 IQD = 1 USD. If its 1000 to 1, they can then easily adjust peoples pay and consumer goods pricing for an RV of 1 to 1 by just dropping the 3 zeros from peoples pay and consumers goods with less confusion and acheive the RV of 1 IQD = 1 USD.

This makes the most sense so far, so I think its a smoke screen that will allow them to achieve the RV with the least amount of confusion and use of math skills by the people and vendors to adjust the economy as a whole to transition the 1 to 1 RV.

Northeast....thanks for your post.

[3choctaw3]

Does anyone know anything about Warka Bank and this link?

http://www.another site/2007/12/ceo_alwarka_bank_assets_and_sh.html

[Enorrste]

http://translate.google.com/translate?hl=en&sl=ar&u=http://al-iraqnews.net/new/iconomi/57243.html&prev=/search%3Fq%3Dnahrain%26hl%3Den%26safe%3Doff%26client%3Dfirefox-a%26channel%3Ds%26rls%3Dorg.mozilla:en-US:official%26hs%3DyfB%26sa%3DX%26num%3D100%26newwindow%3D1&rurl=translate.google.ca

Conscious / m. A

3/3/2010 5:20 pm

"With great interest the remarks attributed to incorrect Massadrldi addressed to some newspapers and news agencies today to the effect that the central bank intends to change the Iraqi dinar exchange rate by making the dollar worth a thousand dinars in the month of June next year.

He said the central bank In a press statement received (News Agency, Iraqi Information / conscious) a copy of the non-validity of this report or other criteria and the stability of the Iraqi dinar exchange rate and the general signs of monetary policy is far from the news and other information is confused and incorrect, so necessary noted.