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

[Kent]

I see the highlighted passage, just not sure what your point is??

That's the 15% improvement in rate that Adam refers to in his email/blog:

http://dinarspeculation.com/2010/03/03/maliki-ahead-in-polls-isx-on-hold-and/

[Barbann]

It could be a smoke screen , But when i read this it still doesn't look bad

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.

Looks like a RV 1 to 1

Well this one certainly sounds that way..

[Mojo]

Just a wild guess on this one: Could they intend to slowly ramp the value up to 1,000 IQD per USD in June so that they could then redenominate 1,000x and have a straight 1:1 neutral value exchange? I have heard talk about June before, and that would still leave six months to get all the old denominations out of circulation.

FP

That could be possible , But the only way they get there Large notes back is to make them worth something or just say they are toilet paper by the end of the year then we have no choice either take it or lose then go to 1 to 1 but i just don't see that happening , I guess the question is are they keeping the large notes at CBI or not?

[ncw1980]

Hey Barbann, where in Michigan are you located? I am in Davison, near Flint. Do you know of any banks in MI that will exchange dinar?

[Barbann]

Just a wild guess on this one: Could they intend to slowly ramp the value up to 1,000 IQD per USD in June so that they could then redenominate 1,000x and have a straight 1:1 neutral value exchange? I have heard talk about June before, and that would still leave six months to get all the old denominations out of circulation.

FP

That does make sense....

[Barbann]

That's the 15% improvement in rate that Adam refers to in his email/blog:

http://dinarspeculation.com/2010/03/03/maliki-ahead-in-polls-isx-on-hold-and/

Gotcha, sorry I missed it when I read the blog the first time. Thanks for posting it again.

[czeitner]

I don't think it is intentionally bogus. I think that people are trying to "read between the lines" or interpret something that does not need interpreting. It simply needs to be taken at face value. Sort of say what you mean and mean what you say type of thing.

Unless things change drastically from what has been published over the last week or so, I tend to think this managed float they are talking about will take a couple of years. Oh well, good thing no one quit their day job over all this.

Oh crap, was i supposed to keep my Job?

[Barbann]

Ok folks. Before the great interpretations start negatively knocking the shiot out of this article which was translated from Arabic to english, I requested to Mesah tohave her husband who speaks arabic fluently to translate this so is makes absolute send. Afterwards we can all get a better perspective with proper sentence structure in place.

Thanks for article! Great find!

Good Idea Gankans and honestly I really hope the whole thing is way outta whack!! LOL..I really hate believing what I am reading when it comes to this..LOL

[Barbann]

Oh crap, was i supposed to keep my Job?

Weeeel, sure hope you didn't quit based on any information given on this site..LOL

[Barbann]

Hey Barbann, where in Michigan are you located? I am in Davison, near Flint. Do you know of any banks in MI that will exchange dinar?

Clarkston, lived in Lapeer for over 20 yrs..and Chase in the Meijers store in Auburn Hills, Brown Rd ( by Great Lakes Crossing) has a Del a Rue Machine I do believe they will exchange when it becomes internationally traded, but then Ithink all large banks will be exchanging then too. Certainly BOA, Comerica, Chase..etc. I don't think they will be hard to find at all. The big issue will be how much they charge for it.

[Fi3ry_Ph03n1x]

RE: 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.

Well this one certainly sounds that way..

I don't think it sounds like an RV at 1:1 at all. It sounds like they are increasing the value of the IQD to 1,000:1 in June, lopping to a 1:1 (deleting three zeros), and resulting in a US Dollar equivalent of one Iraqi dinar.

FP

[ncw1980]

That is awesome! I actually work at the GLC so that Chase is nice and close. I can stop there after I tell my boss that I quit (j/k)! I hope that they dont charge too much or maybe they can work out something for us when the time comes. My wife and I have been with Chase for a long time and they usually take care of us when we need something done to our account. So we'll see I guess, I just hope everything works out.

[Fi3ry_Ph03n1x]

Ok folks. Before the great interpretations start negatively knocking the shiot out of this article which was translated from Arabic to english, I requested to Mesah tohave her husband who speaks arabic fluently to translate this so is makes absolute send. Afterwards we can all get a better perspective with proper sentence structure in place.

Thanks for article! Great find!

I agree, Gankans. Some articles are clearly well translated and this is not one of them. I would be interested in the opinion of someone more qualified in translation, too. Good call.

FP

[amni_wealth]

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.

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

[neverposts]

From Another Dinar Site...

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.

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

Edited March 3, 2010 by k98nights
Removed name of other dinar site

[C_BOLT]

http://en.aswataliraq.info/

No plans to make ID1000 = $1

Edited March 3, 2010 by C_BOLT
missed a zero

[taxguy]

I personally don't believe this 1000 dinars to 1 US dollar, give me a break...

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 IraqiCentral 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, thecentral 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 ofCentral Bank

Editor: AlMarsad

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

http://translate.google.com/translat...68&sl=ar&tl=en

March 3, 2010 - 05:01:06

Debunked - by the CBI Itself!

No plans to make ID1000 = $1 – CBI

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.

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

[Barbann]

I don't think it sounds like an RV at 1:1 at all. It sounds like they are increasing the value of the IQD to 1,000:1 in June, lopping to a 1:1 (deleting three zeros), and resulting in a US Dollar equivalent of one Iraqi dinar.

FP

Ok I think you are right , I misread it, sorry..LOLO

[Fi3ry_Ph03n1x]

Here is a better link:

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

FP

[Fi3ry_Ph03n1x]

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

[Barbann]

March 3, 2010 - 05:01:06

Debunked - by the CBI Itself!

No plans to make ID1000 = $1 – CBI

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.

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

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

[Barbann]

Ok well you can sure tell Iraq is taking lessons from the US Govt. One hand doesn't know what the other one is doing.

[C_BOLT]

sorry - missed a zero in the thread title

[RAB42]

This dosen't look to good for us

[ghaggerty]

Yes, at this rate, my guess would be as good as any guess on the street...I've had my dinar for 6 years and just within the last month have I started reading sites like this one. I imagine had I started a long time ago I would be CRAZY by now....Let's just RV and get it over with already... :-)