JustNTime Posted February 11, 2012 Report Share Posted February 11, 2012 Saleh: Dinar is covered heavily by $60B in foreign reserves; Goal is to be equal to the dollar FEBRUARY 11TH, 2012 Baghdad (news) .. Commended the deputy governor of the Central Bank of the appearance of Mohammed that the dinar covered in hard currency by more than (100%) and not fear him from the vagaries of currencies of neighboring countries. Saleh said the Agency (news) said on Saturday: The dinar today has become a strong and like a hard currency through the Bank’s policy Central control of the cash raised in the local market. He explained: that the dinar covered in hard currency at a rate of more than (100%), and this rare condition, and has a cash reserve large hard currency than for (60) billion dollars retained by the face of difficult circumstances that may occur in the country, giving the power of the dinar against foreign currency. He pointed to: that the goal of central bank policy at the moment is the stability of the exchange rate of the dinar against the U.S. dollar, but our goal in the long run be equal to it being a process needs a strong economy and inflation is low and a cash reserve large and it was a member of the Finance Committee and the representative / National Alliance / Haitham Jubouri who said it may likely equal to the price of the Iraqi dinar against the dollar during the next biennium after the implementation of the project to delete three zeros from the Iraqi currency. Jubouri said in an earlier statement (the news): The approach undertaken by the Bank Central retention rate of the dinar against the dollar during the current indication that monetary policy in the country able to make the dinar equivalent of the U.S. dollar. http://www.ikhnews.com/news_view_32720.html 12 Link to comment Share on other sites More sharing options...
Dinarduo Posted February 11, 2012 Report Share Posted February 11, 2012 (edited) Wow - so a $1 to $1 exchange rate within the next two years - but after deleting the zeros? This could be great - although another 2 years seems long it will be worth it depending on how the deleting of the zeros goes down! Thanks JustNTime - Great find! Come on RV! Edited February 11, 2012 by Dinarduo Link to comment Share on other sites More sharing options...
gregp Posted February 11, 2012 Report Share Posted February 11, 2012 These are some positive words. We are close. 1 Link to comment Share on other sites More sharing options...
mqchau Posted February 11, 2012 Report Share Posted February 11, 2012 Yes, indeed it all depends on what/how we or they translate the removing of the 0's I hope it's for the best for all of us. We all have waited this long...what is another few days, months, or even years....lets hope it comes sooner than later. Go RV! Link to comment Share on other sites More sharing options...
Lenape Posted February 11, 2012 Report Share Posted February 11, 2012 I certainly hope within 2 years and NOT in 2 years.... B) 1 Link to comment Share on other sites More sharing options...
Papster Posted February 11, 2012 Report Share Posted February 11, 2012 imo.......they cant wait 2 years..............they are ready to play now................GO DINAR 4 Link to comment Share on other sites More sharing options...
Nakida Posted February 11, 2012 Report Share Posted February 11, 2012 Yeah I hope its not 2 years............thats a long time to stay on the roller coaster...............UGH Link to comment Share on other sites More sharing options...
Integrativedoc Posted February 11, 2012 Report Share Posted February 11, 2012 our goal in the long run be equal to it being a process needs a strong economy and inflation is low and a cash reserve large It seems they can lay claim to all of these right now prior to The Meeting. They have shown in media good economic indicators in growth rates and growth potential. They have been running articles of low inflation and Huge reserves. The date to be announced for the National Meeting tomorrow is something to look forward to. If the articles come to fruition and they seat security, HCL, and Erbil at the National then we will see something happen prior to UN eval of chapter 7 in June. IMO Link to comment Share on other sites More sharing options...
yota691 Posted February 11, 2012 Report Share Posted February 11, 2012 our goal in the long run be equal to it being a process needs a strong economy and inflation is low and a cash reserve large It seems they can lay claim to all of these right now prior to The Meeting. They have shown in media good economic indicators in growth rates and growth potential. They have been running articles of low inflation and Huge reserves. The date to be announced for the National Meeting tomorrow is something to look forward to. If the articles come to fruition and they seat security, HCL, and Erbil at the National then we will see something happen prior to UN eval of chapter 7 in June. IMO Now, with less than three months to go before the March 23 event, Moussa cheered the Iraqi government on. Read more: Link to comment Share on other sites More sharing options...
drc85260 Posted February 11, 2012 Report Share Posted February 11, 2012 and it was a member of the Finance Committee and the representative / National Alliance / Haitham Jubouri who said it may likely equal to the price of the Iraqi dinar against the dollar during the next biennium after the implementation of the project to delete three zeros from the Iraqi currency. I am afraid this is not good news:( If they raise the value after the deletion of three zeros...we maybe break even (in 2 years). If the $60 Billion covers the 30 Trillion Dinar out, this also tells us it is not a RV at a dollar:( If it were they would need $30 Trillion to cover the RV. Plus they say it will take up to 2 years to do so. I would think that means delete the zeros first,then the RV equals $.86 to slowly go up to a dollar in 2 years....so that means One Million Dinar equals $860...IMO 3 Link to comment Share on other sites More sharing options...
keepmwlknfny Posted February 11, 2012 Report Share Posted February 11, 2012 and it was a member of the Finance Committee and the representative / National Alliance / Haitham Jubouri who said it may likely equal to the price of the Iraqi dinar against the dollar during the next biennium after the implementation of the project to delete three zeros from the Iraqi currency. I am afraid this is not good news:( If they raise the value after the deletion of three zeros...we maybe break even (in 2 years). If the $60 Billion covers the 30 Trillion Dinar out, this also tells us it is not a RV at a dollar:( If it were they would need $30 Trillion to cover the RV. Plus they say it will take up to 2 years to do so. I would think that means delete the zeros first,then the RV equals $.86 to slowly go up to a dollar in 2 years....so that means One Million Dinar equals $860...IMO Pretty much......if they werent talking about deleting the zeros first then this would be awesome.... Link to comment Share on other sites More sharing options...
Integrativedoc Posted February 11, 2012 Report Share Posted February 11, 2012 and it was a member of the Finance Committee and the representative / National Alliance / Haitham Jubouri who said it may likely equal to the price of the Iraqi dinar against the dollar during the next biennium after the implementation of the project to delete three zeros from the Iraqi currency. I am afraid this is not good news:( If they raise the value after the deletion of three zeros...we maybe break even (in 2 years). If the $60 Billion covers the 30 Trillion Dinar out, this also tells us it is not a RV at a dollar:( If it were they would need $30 Trillion to cover the RV. Plus they say it will take up to 2 years to do so. I would think that means delete the zeros first,then the RV equals $.86 to slowly go up to a dollar in 2 years....so that means One Million Dinar equals $860...IMO DUCK 1 Link to comment Share on other sites More sharing options...
zigmeister Posted February 11, 2012 Report Share Posted February 11, 2012 Pretty much......if they werent talking about deleting the zeros first then this would be awesome.... It would be awesome. I hate these articles, I am tired of debating them, I am damn sick and tired of reading them. The one up shot is they are still talking about deleting zero's! Which they have been doing for what 2 years? Question does CBI need Parliament approval for a RD? I can't remember. 1 Link to comment Share on other sites More sharing options...
JustNTime Posted February 11, 2012 Author Report Share Posted February 11, 2012 my quote from another article Jassim added that lifting the three zeroes will lead to an exchange rate of one dollar per dinar They are trying to explain, as simple as possible, to the ragheads (and lopsters) that all the hear say and articles talking of lifting 3 zeros really means that the dinar will be equal to the dollar. <br style="font-family: tahoma, arial, verdana, sans-serif; font-size: 13px; text-align: left; "> The process, or implementation of this project, is what makes this happen. Read more: http://dinarvets.com/forums/index.php?/topic/104811-may-dinar-is-equal-to-the-dollar/page__st__40#ixzz1m5um7klm 1 Link to comment Share on other sites More sharing options...
keepmwlknfny Posted February 11, 2012 Report Share Posted February 11, 2012 It would be awesome. I hate these articles, I am tired of debating them, I am damn sick and tired of reading them. The one up shot is they are still talking about deleting zero's! Which they have been doing for what 2 years? Question does CBI need Parliament approval for a RD? I can't remember. As far as I know, the CBI needs approval for issuing a new currency....changing the rate doesnt matter, but the currency itself does.... my quote from another article Jassim added that lifting the three zeroes will lead to an exchange rate of one dollar per dinar They are trying to explain, as simple as possible, to the ragheads (and lopsters) that all the hear say and articles talking of lifting 3 zeros really means that the dinar will be equal to the dollar. <br style="font-family: tahoma, arial, verdana, sans-serif; font-size: 13px; text-align: left; "> The process, or implementation of this project, is what makes this happen. Read more: http://dinarvets.com...0#ixzz1m5um7klm Yes, that it will be equal to the dollar AFTER deleting the zeros....which means after redenominating/lopping the zeros....smaller money supply=higher valued dinar.... 1 1 Link to comment Share on other sites More sharing options...
mrref Posted February 11, 2012 Report Share Posted February 11, 2012 It would be awesome. I hate these articles, I am tired of debating them, I am damn sick and tired of reading them. The one up shot is they are still talking about deleting zero's! Which they have been doing for what 2 years? Question does CBI need Parliament approval for a RD? I can't remember. Try 7 years Link to comment Share on other sites More sharing options...
zigmeister Posted February 11, 2012 Report Share Posted February 11, 2012 Try 7 years Wow 7 years! That is a long time to talk about it. I have to agree with Darin, what is the hold up? Is it parliament won't pay the bill for new currency? They can change the rate and have without Parliaments okay. Maybe Parliament/Maliki feel its an expenditure they do not need now. Link to comment Share on other sites More sharing options...
truthful1 Posted February 11, 2012 Report Share Posted February 11, 2012 and it was a member of the Finance Committee and the representative / National Alliance / Haitham Jubouri who said it may likely equal to the price of the Iraqi dinar against the dollar during the next biennium after the implementation of the project to delete three zeros from the Iraqi currency. I am afraid this is not good news:( If they raise the value after the deletion of three zeros...we maybe break even (in 2 years). If the $60 Billion covers the 30 Trillion Dinar out, this also tells us it is not a RV at a dollar:( If it were they would need $30 Trillion to cover the RV. Plus they say it will take up to 2 years to do so. I would think that means delete the zeros first,then the RV equals $.86 to slowly go up to a dollar in 2 years....so that means One Million Dinar equals $860...IMO You are assuming there is 30 trillion in circulation. The cbi data is close to that, but do you believe it??? If theres 30 trillion, then i think this article holds some real details. but, i choose to believe the money supply has been reduced, and there is more than one way to delete the zeroes. and it was a member of the Finance Committee and the representative / National Alliance / Haitham Jubouri who said it may likely equal to the price of the Iraqi dinar against the dollar during the next biennium after the implementation of the project to delete three zeros from the Iraqi currency. I am afraid this is not good news:( If they raise the value after the deletion of three zeros...we maybe break even (in 2 years). If the $60 Billion covers the 30 Trillion Dinar out, this also tells us it is not a RV at a dollar:( If it were they would need $30 Trillion to cover the RV. Plus they say it will take up to 2 years to do so. I would think that means delete the zeros first,then the RV equals $.86 to slowly go up to a dollar in 2 years....so that means One Million Dinar equals $860...IMO You are assuming there is 30 trillion in circulation. The cbi data is close to that, but do you believe it??? If theres 30 trillion, then i think this article holds some real details. but, i choose to believe the money supply has been reduced, and there is more than one way to delete the zeroes. The only thing i take from this article, is the value of the dinar is undervalued. given its backed by more than 100% 1 1 Link to comment Share on other sites More sharing options...
Carrello Posted February 11, 2012 Report Share Posted February 11, 2012 It would be awesome. I hate these articles, I am tired of debating them, I am damn sick and tired of reading them. The one up shot is they are still talking about deleting zero's! Which they have been doing for what 2 years? Question does CBI need Parliament approval for a RD? I can't remember. As i remember, CBI needs approval for funds to print currency, and does not need approval to restructure. Anybody have a different story? Link to comment Share on other sites More sharing options...
taji2 Posted February 11, 2012 Report Share Posted February 11, 2012 Can anyone pin point exactly when this biennium, or 2 year plan was first mentioned or supposedly began? Also is there something that actually lays out Phase 1, 2, or 3 or are we only speculating what they entail? Link to comment Share on other sites More sharing options...
zigmeister Posted February 11, 2012 Report Share Posted February 11, 2012 As i remember, CBI needs approval for funds to print currency, and does not need approval to restructure. Anybody have a different story? I think CBI is building a new building they can't do both. So they best restructure the rate. Link to comment Share on other sites More sharing options...
Nakida Posted February 11, 2012 Report Share Posted February 11, 2012 I was told that the 2 year period would be to raise the value to 3+. I am going to guess that it will be equal to the USD when it does RV........over time it will raise higher...........I could be wrong. Any thoughs? Link to comment Share on other sites More sharing options...
Doctor Smith Posted February 11, 2012 Report Share Posted February 11, 2012 and it was a member of the Finance Committee and the representative / National Alliance / Haitham Jubouri who said it may likely equal to the price of the Iraqi dinar against the dollar during the next biennium after the implementation of the project to delete three zeros from the Iraqi currency. I am afraid this is not good news:( If they raise the value after the deletion of three zeros...we maybe break even (in 2 years). If the $60 Billion covers the 30 Trillion Dinar out, this also tells us it is not a RV at a dollar:( If it were they would need $30 Trillion to cover the RV. Plus they say it will take up to 2 years to do so. I would think that means delete the zeros first,then the RV equals $.86 to slowly go up to a dollar in 2 years....so that means One Million Dinar equals $860...IMO They can always lop. It's good news to me because they could double the rate today and still be more than 100% backed. No need for a lop. Then their next budget could be reduced by half. This would shrink the M2. They could then build up the reserves and then double the rate again. This model doesn't even consider what could be done with fractional banking. They have the US dollar and other currencies backing the Dinar but they're all fiat currencies. Link to comment Share on other sites More sharing options...
tamiflyer Posted February 11, 2012 Report Share Posted February 11, 2012 Very good find and IMO, very important information here. "He explained: that the dinar covered in hard currency at a rate of more than (100%), and this rare condition, and has a cash reserve large hard currency than for (60) billion dollars retained by the face of difficult circumstances that may occur in the country, giving the power of the dinar against foreign currency." I am going to take a stab at this: 1. All Dinar notes are covered over 100% (Rare condition = Undervalued) 2. Plus 3. Cash reserve of 60 Billion Dollars for the sole purpose of difficult circumstances 4. Giving the power of the Dinar against foreign currency = It may be as strong as the Dollar now but not reflected yet. "Commended the deputy governor of the Central Bank of the appearance of Mohammed that the dinar covered in hard currency by more than (100%) and not fear him from the vagaries of currencies of neighboring countries." va·gar·y [vuh-gair-ee, vey-guh-ree] Show IPA noun, plural -gar·ies. 1. an unpredictable or erratic action, occurrence, course, or instance: the vagaries of weather; the vagaries of the economic scene. 2. a whimsical, wild, or unusual idea, desire, or action. Here he must be talking about Iran, Siria and neighboring countries. Perhaps how some of these currencies devaluations, due to sanctions, are not affecting the strength of the Iraqi Dinar. "He pointed to: that the goal of central bank policy at the moment is the stability of the exchange rate of the dinar against the U.S. dollar, but our goal in the long run be equal to it being a process needs a strong economy and inflation is low and a cash reserve large" 1. Policy at the moment is the exchange rate of the Dinar for the Dollar. 2. Long run goal is 1:1 3. Need a strong economy 4. Low inflation (I have a problem with this one) 5. Large cash reserve "Jubouri said in an earlier statement (the news): The approach undertaken by the Bank Central retention rate of the dinar against the dollar during the current indication that monetary policy in the country able to make the dinar equivalent of the U.S. dollar." The Central Banks retention rate = Indications that the CBI has been taking the higher notes off the markets. The CBI, under its current monetary policy, has the power to make the Dinar and the Dollar 1:1 In conclusion: All the Dinars that are in circulation are covered by over 100% which means it can be revalued and adjusted to the right percentage. The 60 billion dollars in the reserve are extra and are not being counted to cover the Dinar. If all the numbers were in place, correctly the value of the Dinar could be just as strong as the Dollar. The mention of a strong economy is very important. Right now, the GOI is trying to establish better economic reform to allow investments in Iraq with less red tape and guarantees. The low inflation is the kicker. I am willing to bet that there are at least 2 prices for every commodity in Iraq right now, one in Dollars and one in Dinars and the gap has to be very big. The Dollars are running out on the streets of Iraq, purposely done by the CBI to dedollarize the country but this phenomenon is also making commodities more expensive to buy since Dinars are in the play now. Inflation is going to shoot through the roof if the CBI does not adjust the Dinar accordingly and closes the gap to the Dollar. I see a small RV on the way very shortly to adjust the gap. I see the real RV shortly after, perhaps once the GOI passes the budget, specially if the budget reads in Dollars and not Dinars. Simultaneously, the RV and the Budget can run together once it is affirmed and becomes law. Remember folks, this is my pure opinion and observation with this important article. Thank you for your find and post. GLTA and Go RV. 11 Link to comment Share on other sites More sharing options...
ACURA-AL Posted February 11, 2012 Report Share Posted February 11, 2012 If I was an Iraqi that actually had some money back in the day I would not be very happy. If they delete the zeros and then getting one to one I think you would have less thean they had in 2003. 1 Link to comment Share on other sites More sharing options...
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