Randalln I'm calling you out

[randalln]

and are they not being brought be for the parliament as we speak

And aren't the passing laws ...prohibiting this very subject

HMM i thought you where some guru of the news in iraq

and as for as my work history check on DDater with Pickels he was one of my bosses

[dinarck]

and all this cash in or buy more means nothing if you don't work for the GOI

and if I'm not mistaken ...arent there several GOI employes on trial right now for that exact thing you are speaking of

I guess you work for the GOI now huh Randalln?

I have to agree with some of the others. You are entertaining but dangerous to new people who may believe you and sell their car to buy dinar.

What happenend to your 100,000 bank account deal? Do you have to be a member of the GOI for that? Hurry. Make up another lie.

Yeah I must have missed the "news" where Gov officials were cashing out with the "RV" and buying more dinar to cash out again. Maybe you can make up a news report and post it in the news section.

Edited June 12, 2012 by dinarck

[randalln]

I guess you work for the GOI now huh Randalln?

I have to agree with some of the others. You are entertaining but dangerous to new people who may believe you and sell their car to buy dinar.

What happenend to your 100,000 bank account deal? Do you have to be a member of the GOI for that? Hurry. Make up another lie.

Is this all you got son

I thought you had facts one here in the LOP section

So this one will be easy for ya

what currency is the Iraqi dinar pegged too?????????????

Well-functioning monetary arrangements are as important as other aspects of theinfrastructure, in putting Iraq back on the road of economic development. After theunification of the two kinds of dinars that have been circulating, the next order ofbusiness will be to decide what should determine the value of the currency. Whatexchange rate regime is appropriate for Iraq, at this key juncture in its history?

WHAT’S WRONG WITH PROPOSALS TO PEG TO THE DOLLAR OR EURO

Given instability in the region and the absence of credible institutions, the Iraqidinar requires an anchor of substantial credibility. Some have proposed a rigid peg tothe dollar, as via a currency board or outright dollarization. (E.g., Steve H. Hanke, “AnIraq Currency Game Plan,” The International Economy, XVII, no. 3, Summer 2003, 81-83.) But this idea has major drawbacks. That it would mean giving up the ability to setmonetary policy independently is not such a big cost, as few governments have been ableto use such discretionary policy well anyway. But there are other big disadvantages.

One big drawback of a fixed exchange rate is that it means giving up theautomatic depreciation of the currency that a floating currency would experience duringperiods when the world market for the country’s exports are weak. In the case of Iraq,the major export is of course oil. Large fluctuations in the world price of oil havewrought havoc on the economies of other major oil-producing debtors such as Indonesia,Nigeria, and Venezuela, often entailing a serious currency crisis before a change in theterms of trade is accommodated. A second major drawback of fixing the dinar to thedollar would be the introduction of gratuitous volatility when the dollar fluctuates againstother major currencies. Argentina’s version of the currency board notoriously collapsedtwo years ago, not just because the straitjacket was so rigid, but because the rigid linkwas to a currency, the dollar, that had appreciated strongly against the euro and othertrading partner currencies during the second half of the 1990s, imposing a huge loss incompetitiveness on Argentine exports at a time when world market conditions were

already weak. A third drawback is that to impose the dollar on Iraq might tend to playinto widespread fears of U.S. imperialism. The politics would get even worse if thearrangement came to tears as it did in Argentina, for example, as a consequence of afuture increase in US interest rates.

An alternative would be to peg the dinar to the euro. But this idea has majordrawbacks as well. The euro has been appreciating against the dollar, and mightcontinue to do so as a result of ever-widening US trade deficits. A peg to the euro wouldthus risk a future loss in competitiveness against non-euro trading partners. Theproblem is that, as Iraq’s trade returns to normal, its trading partners will be so dispersedgeographically that a peg to either currency alone -- the dollar or the euro -- wouldintroduce unwanted volatility vis-à-vis the other. Like other geographically diversifiedcountries, Iraq may thus be headed for a basket peg, with equal weight on the dollar andeuro.

THE PROPOSAL TO “PEG THE EXPORT PRICE” (PEP)

A basket peg does not solve the problem that in the event of large future declinesin the world price of oil, the currency of an oil-exporter must be able to depreciate inorder to accommodate the adverse shift in the terms of trade and help stabilize exportearnings. A new proposal designed for small commodity-exporters addresses preciselythis issue: Peg the Export Price (“PEP”). The proposal is for a country to peg thecurrency to the export commodity. The argument for this idea in general is explained atgreater length in my paper “A Proposed Monetary Regime for Small Commodity-Exporters: Peg the Export Price” (International Finance, Blackwill Publishers, vol. 6, no.1, Spring 2003, 61-88).

The proposal could be implemented as follows. The central bank would set thedaily price of dinars in terms of dollars in direct proportion to the daily price of a barrelof oil in terms of dollars. The result would be to stabilize the price of oil in domesticterms. The proposal carries the best advantages of both fixed and floating exchangerates. Like fixed exchange rates, it constitutes a transparent nominal anchor and alsohelps promote integration into world markets. And yet, at the same time, it retains amajor advantage claimed by floating exchange rates: automatic accommodation offluctuations in world markets for the export commodity. Thus it delivers the best of bothworlds, fixed and floating.

Australia was spared the worst of the East Asian crisis because its floatingcurrency automatically depreciated along with world market conditions for its exports. Ithas even been proposed that countries like Argentina should use the Australian dollar asan anchor because it is a proxy for commodity prices. (E.g., Hale, “The Fall of a StarPupil,” Financial Times, January 7, 2002.) But then why not peg directly to the relevantcommodity – oil, wheat, or whatever the country produces -- and cut out the imperfectlycorrelated middleman?

2

ALTERNATIVE ACHORS

To appreciate the virtues of the PEP proposal, consider the various economicmagnitudes that economists have proposed as alternative candidates for nominal anchor.Each has its own characteristic sort of extraneous fluctuations that can wreck havoc on acountry’s monetary system.

• A monetarist rule would specify a fixed rate of growth in the money supply.But fluctuations in the public’s demand for money or in the behavior of thebanking system can directly produce gratuitous fluctuations in velocity andthe interest rate, and thereby in the real economy. For example, in the UnitedStates, a large upward shift in the demand for money around 1982 convincedthe Federal Reserve Board that it had better abandon the money growth rule ithad adopted two years earlier, or else face a prolonged recession.
• To some, the novel idea of pegging the currency to the price of the exportgood may sound similar to the current fashion of targeting the inflation rateor price level. Indeed, inflation-targeting is a leading proposal for Iraq(Steven Cecchetti, “How to Establish a Credible Iraqi Central Bank,” TheInternational Economy, Summer 2003, 84-86.) But the fashion, in suchcountries as the United Kingdom, Sweden, Canada, New Zealand, Australia,Chile and Brazil, is to target the CPI. A key difference between the CPI andthe export price is the terms of trade. When there is an adverse movement inthe terms of trade, one would like the currency to depreciate, while price leveltargeting can have the opposite implication. If the central bank has beenconstrained to hit an inflation target, positive oil price shocks (as in 1973,1979, or 2000), for example, will require an oil-importing country to tightenmonetary policy. [Positive wheat-price shocks will do the same for Iraq.]The result can be sharp falls in national output. Thus under rigid inflationtargeting, supply or terms-of-trade shocks can produce unnecessary andexcessive fluctuations in the level of economic activity.
• The need for robustness with respect to import price shocks argues for thesuperiority of nominal income targeting over inflation targeting. A practicalargument against nominal income targeting is the difficulty of timelymeasurement. For developing countries in particular, the data are sometimesavailable only with a delay of one or two years.
• Under a gold standard, the economy is hostage to the vagaries of the worldgold market. For example, when much of the world was on the gold standardin the 19th century, global monetary conditions depended on the output of theworld’s gold mines. The California gold rush from 1849 was associated witha mid-century increase in liquidity and a resulting increase in the global pricelevel. The absence of major discoveries of gold between 1873 and 1896 helpsexplain why price levels fell dramatically over this period. In the late 1890s,the gold rushes in Alaska and South Africa were each again followed by new

3

upswings in the price level. Thus the system did not in fact guaranteestability.

• One proposal is that monetary policy should target a basket of basic mineraland agricultural commodities. The idea is that a broad-based commoditystandard of this sort would not be subject to the vicissitudes of a singlecommodity such as gold, because fluctuations of its components wouldaverage out somewhat. The proposal might work if the basket reflected thecommodities produced and exported by the country in question. But theAchilles heel is the same as for inflation-targeting: such a peg gives preciselythe wrong answer in a year when the prices of import commodities go up.
  Just when the domestic currency should be depreciating to accommodate anadverse movement in the terms of trade, it appreciates instead. Brazil shouldnot peg to oil, and Iraq should not peg to wheat.
• Under a fixed exchange rate, fluctuations in the value of the particularcurrency to which the home country is pegged can produce needless volatilityin the country’s international price competitiveness. For example, theappreciation of the dollar from 1995 and 2001 was also an appreciation forwhatever currencies were linked to the dollar. There was no necessaryconnection between the US economic situation and the fundamentals ofsmaller dollar-linked economies. The problem was particularly severe forsome far-flung economies that had adopted currency boards over thepreceding decade: Hong Kong, Argentina, and Lithuania.
  Dollar-induced overvaluation was also one of the problems facing suchvictims of currency crisis as Mexico (1994), Thailand and Korea (1997),Russia (1998), Brazil (1999), and Turkey (2001), even though none of thesecountries had formal rigid links to the dollar. It is enough for the dollar toexert a large pull on the country’s currency to create strains. [The loss ofcompetitiveness in non-dollar export markets adversely impacts suchmeasures of economic health as real overvaluation, exports, the trade balance,and growth, or such measures of financial health as the ratios of currentaccount to GDP, debt to GDP, debt service to exports, or reserves to imports.]
  To recap, each of the most popular variables that have been proposed ascandidates for nominal anchors is subject to fluctuations that will add an element ofunnecessary monetary volatility to a country that has pegged its money to that variable:velocity shocks in the case of M1, supply shocks in the case of inflation targeting,measurement errors in the case of nominal GDP targeting, fluctuations in world goldmarkets in the case of the gold standard, and fluctuations in the anchor currency in thecase of exchange rate pegs.
  For those small countries that want a nominal anchor and that happen to beconcentrated in the production of a particular mineral commodity, a peg to thatcommodity may make perfect sense. For them fluctuations in the international value oftheir currency that follow from fluctuations in world commodity market conditions would

4

not be an extraneous source of volatility. Rather they would be precisely the sort ofmovements that are desired, to accommodate exogenous changes in the terms of tradeand minimize their overall effect on the economy. In these particular circumstances, theautomatic accommodation or insulation that is normally thought to be the promise heldout only by floating exchange rates, is instead produced per force by the pegging option.Thus PEP simultaneously delivers the nominal anchor and adjustment to trade shocks.

A CURE FOR THE DUTCH DISEASE

Economists use the term “Dutch Disease” to describe the problem of economicdislocations arising from large fluctuations in the real price of oil, or whatever is themineral or agricultural export commodity of the country in question. These fluctuationscan result in labor and capital wastefully shifting back and forth between production, infirst one sector, and then another. One possible objection to the PEP proposal is that thesupply of oil is relatively inelastic, either because it is hard to boost capacity in the shortrun, or because output is limited by quotas in the case of those OPEC members whocomply with them. In other words, output in the short run doesn’t shift that much inresponse to price signals. Perhaps then it is not so important to dampen the increase inthe real price of oil in boom times, or moderate the decline in down times, as the PEPproposal is designed to do?

It is indeed important to stabilize the real price of oil. (By “real,” I mean interms of purchasing power over the domestic consumption basket, including goods andservices that are not internationally traded.) When an oil-producer falls prey to theDutch Disease, the cost doesn’t primarily take the form of shifts in investment and outputin the oil sector per se. Rather, it is because oil revenues soar in boom times and crashwhen world market conditions are weak -- even if output does not respond much to theprice. Booming oil revenues are reflected in spending, especially in wastefulgovernment spending and employment, which then is difficult to cut back when thependulum swings the other way. For this reason, stabilizing the real price of oildomestically would help stabilize the economy, even if supply is inelastic.

The smaller Gulf states have an even stronger interest than the rest of us in thesuccessful stabilization and development in the Iraqi economy, and its integration into therest of the world. As the Gulf Cooperation Council discusses economic and monetaryintegration among its members, it may wish to tie Iraq in as well. For this purpose, itwould help if the monetary anchor for Iraq were the same as the monetary anchor for theGulf states. (When countries share a common currency, it boosts their trade with eachother substantially.) But the PEP proposal applies to the other Gulf states as much as toIraq. They have already had historical experience with the Dutch Disease, and know allabout government workers who have little to do, but cannot be moved off the payrollwhen oil money is no longer as plentiful as it was. Thus it might make sense for all ofthe region’s oil producers to adopt the oil peg in tandem.

INCLUDE OIL IN A BASKET

To fix the dinar (or other countries’ currencies) simply to oil alone may be tooradical a proposal. While it would facilitate the recovery and expansion of the oil sector

5

in Iraq, it might at the same time discourage production of other internationally tradablegoods by shifting the entire burden of price uncertainty onto them. My proposal for Iraq,therefore, is to add oil to the basket of currencies to which the dinar is to be pegged. Forsimplicity, give equal value weights to all three units. Or, what is almost equivalent,define the value of the dinar as 1/3 of a US dollar plus 1/3 of a euro, plus 1/100 of abarrel of oil. Unlike other proposals for nominal anchors, this is one that an oil-producerlike Iraq could live with even if there are big swings in international exchange rates orworld oil prices in the future.

Jeffrey Frankel is Harpel Chair at Harvard University’s Kennedy School, and director ofthe program in International Finance and Macroeconomics at the National Bureau ofEconomic Research [where he is also on the committee that officially declared the startand end of the 2001 recession].

bet ya have not seen that

I will give you some time over here in your lock box

[dinarck]

Nice try there big shot. The dinar is pegged to the dollar. End of story. I love how when you cannot lie about something you bring over something that you wish was true. Give it a rest. It is too easy to see through your bullshite.

http://www.alltimefinance.com/iraqi-dinar-value-continues-to-be-pegged-to-us-dollar/8723/

[randalln]

i

DEPARTMENT OF THE TREASURY

WASHINGTON, QC. 20220IRAQI SANCTIONS REGULATIONS

(31 CFR Part 575)INTERPRETIVE GUIDANCE

(Issued under the authority of Section 203 of the InternationalEmergency Economic Powers Act (50 U.S.C. 5 1702),Section 5 of theUnited Nations Participation Act (22 U.S.C. 5. 287c), Executive OrderNo. 12722 of August 2, 1990, Executive Order No. 12724 of August 9,1990, and Parts 501 and 575ofTitle 31 of the Code of FederalRegulations. )

Transactions in Iraqi Debt

Section 575.533 authorizes U.S. persons to trade in 'Iraqi commercial or sovereign debt in secondary markets,subject to the following conditions:

23, 2003,

(a) Such debt was not held in the United States orwithin the possession or control of a U.S. person as of May

-

see § 575.533((1), ©; and

( Unless licensed or otherwise authorized by theOffice of Foreign Assets Control, no U.S. person ispermitted to enter into any transaction, including anattempt to collect on debt, with persons or organizationsdetermined by the Director of the Office of Foreign AssetsControltobeincludedwithin§ 575.306,personsontheDefense Department's 55-person Watch List, or personsidentified by the 661 -Committee pursuant to paragraphs 19and 23 of United Nation

Nice try there big shot. The dinar is pegged to the dollar. End of story. I love how when you cannot lie about something you bring over something that you wish was true. Give it a rest. It is too easy to see through your bullshite.

http://www.alltimefi...us-dollar/8723/

hahahahahahahaha and you are sure of this statement

THE DOLLAR hmmmmm

[dinarck]

Yawn...... Tell us all another lie Randalln. What curreny is the Dinar pegged to? SDRs? Hahahaha

[randalln]

Financial Operations and Policies

During 1997/98, member countries purchased(i.e., borrowed) SDR 19.0 billion from the IMF’s Gen-eral Resources Account (GRA) in the credit tranches—nearly four times the level of the previous year—andmade reserve tranche purchases of SDR 1.0 billion.15The IMF approved nine new Stand-By Arrangementsin 1997/98, with total commitments of SDR 27.3 bil-lion (including SDR 10.0 billion under the Supplemen-tal Reserve Facility), and four new ExtendedArrangements, with total commitments of SDR 2.8 bil-lion. In addition, the IMF approved eight new ESAFArrangements, with commitments totaling SDR 1.7billion. As of April 30, 1998, 14 Stand-By Arrange-ments, 13 Extended Arrangements, and 33 ESAFArrangements were in effect. With the large volume ofcredit tranche purchases, along with drawings of ESAFloans, total IMF credit outstanding rose to a recordSDR 56 billion as of April 30, 1998, from SDR 40.5billion a year earlier.

With the very high demand for the use of IMFresources, the IMF’s net uncommitted usable resourcesfell by SDR 20.9 billion during 1997/98, and its liq-uidity position weakened considerably. At a review inMarch 1998, the Board considered the IMF’s liquidityposition vulnerable and expected it to remain underconsiderable strain in the period immediately ahead.Executive Directors cited the pressing need for theagreed quota increase under the Eleventh GeneralReview to take early effect and called for a rapid con-clusion of the adherence process for the New Arrange-ments to Borrow (NAB).

The IMF earned a net income of SDR 164 millionin the financial year, which was placed to reserves,increasing the IMF’s reserves to SDR 2.1 billion as ofthe end of 1997/98. The level of outstanding overduefinancial obligations to the IMF increased slightly toSDR 2.3 billion in 1997/98, with the number of mem-bers in protracted arrears remaining at seven.

15As of April 30, 1998, the U.S. dollar/SDR exchange rate was

Membership and Quotas

In 1997/98, the Republic of Palau became the 182ndmember of the IMF, with an initial quota of SDR 2.25million. The Federal Republic of Yugoslavia (Serbia/Montenegro) has not completed arrangements for suc-cession to membership in the IMF. The Board decidedon December 10, 1997, that the country had untilJune 14, 1998, to complete such arrangements; onJune 10, 1998, this period was extended for a furthersix months.

Five member countries (Democratic Republic of theCongo, Iraq,16 Liberia, Somalia, and Sudan) have notbeen able to consent to their quota increases under theNinth General Review of Quotas because of theirarrears to the General Resources Account. The Execu-tive Board approved on December 30, 1997, a six-month extension of the periods for consent to andpayment of increases in quotas under the NinthReview. In its report to the Board of Governors on theEleventh General Review of Quotas17 (see below), theBoard recommended that the period for consent toquota increases under the Ninth Review be extended tothe effective date of the quota increase under theEleventh Review, and the period for payment of quotaincreases under the Ninth Review be extended to 30days after that date.

The Board began its work on the Eleventh GeneralReview of Quotas in August 1995, and it reported itsrecommendations regarding quota increases to theBoard of Governors in December 1997. The Board’sReport and the Proposed Resolution of the Board ofGovernors (Resolution No. 53-2, adopted January 30,1998) are shown in Appendix III.

The Board’s recommendation to increase totalIMF quotas by 45 percent (to SDR 212 billion from

16Iraq has not made payments to the IMF in view of sanctionsunder UN Security Council Resolution No. 661, adopted onAugust 6, 1990.

17The Board of Governors concluded the Tenth General Review ofQuotas without an increase in quotas.

HERE YA GO SON hope they schooled you on comprehension of what you read

Edited June 12, 2012 by randalln

[dinarck]

O yeah. I really got schooled on meaningless SDR nonsense. It say Iraq could not pay for their quota? How does this mean that the Dinar isnt pegged to the dollar or there has been a RV? Seriously. You are mental.

[randalln]

heres the link

http://www.imf.org/external/pubs/ft/ar/98/pdf/file06.pdf

Why do you think its so important for IRAQ to keep getting all the extensions

as of the 15 of this month all extensions expire for iraq and there currency will the revert to the $dollar

and at this time they will either sink or swim

There currency has to be on line at that time at the rate they wish to move forward with

I would suggest you read the doc ...i set forth on the link

it is very long but it explains why in 1998 the where placed on a peg restriction

and why ever year leading up to and all during the war .........have been extended

and now you couple that with ....all the news you surely know about the protection expiring in jun.2012

and you have your ........wait for it .....................................REINSTATEMENT that is spelled R/I not R/V

and now you couple that with ....all the news you surely know about the protection expiring in jun.2012

and you have your ........wait for it .....................................REINSTATEMENT that is spelled R/I not R/V

[DinarWhiz]

heres the link

http://www.imf.org/external/pubs/ft/ar/98/pdf/file06.pdf

Why do you think its so important for IRAQ to keep getting all the extensions

as of the 15 of this month all extensions expire for iraq and there currency will the revert to the $dollar

and at this time they will either sink or swim

There currency has to be on line at that time at the rate they wish to move forward with

I would suggest you read the doc ...i set forth on the link

it is very long but it explains why in 1998 the where placed on a peg restriction

and why ever year leading up to and all during the war .........have been extended

and now you couple that with ....all the news you surely know about the protection expiring in jun.2012

and you have your ........wait for it .....................................REINSTATEMENT that is spelled R/I not R/V

and now you couple that with ....all the news you surely know about the protection expiring in jun.2012

and you have your ........wait for it .....................................REINSTATEMENT that is spelled R/I not R/V

Randy I'm a believer!!!!!

[randalln]

AND THAT IS HAVING YOUR ........

VAN ALLEN BELT TIGHTEN

you might have to look up The Van Allen Belt son hahahahahahahahahaha

[DinarWhiz]

AND THAT IS HAVING YOUR ........

VAN ALLEN BELT TIGHTEN

you might have to look up The Van Allen Belt son hahahahahahahahahaha

http://csep10.phys.utk.edu/astr161/lect/earth/magnetic.html

[dinarck]

What ever you say champ. I bore with a pointless debate. SDRs mean nothing. You are confused. There is no such thing as RVs. You have been proven to be lying. You havent shown anything to support any of your claims, only a stupid link to SDRs which is irrelavent. You also havent answered the questions myself and others have asked wich shows you are a joke. Your reading and writing skills reflect your tiny IQ and any further debate with you is simply a waste of time.

[easyrider]

heres the link

http://www.imf.org/e.../pdf/file06.pdf

Why do you think its so important for IRAQ to keep getting all the extensions

as of the 15 of this month all extensions expire for iraq and there currency will the revert to the $dollar

and at this time they will either sink or swim

There currency has to be on line at that time at the rate they wish to move forward with

I would suggest you read the doc ...i set forth on the link

it is very long but it explains why in 1998 the where placed on a peg restriction

and why ever year leading up to and all during the war .........have been extended

and now you couple that with ....all the news you surely know about the protection expiring in jun.2012

and you have your ........wait for it .....................................REINSTATEMENT that is spelled R/I not R/V

and now you couple that with ....all the news you surely know about the protection expiring in jun.2012

and you have your ........wait for it .....................................REINSTATEMENT that is spelled R/I not R/V

gotta say randy you brought the fire to this one very nice...

[DinarWhiz]

gotta say randy you brought the fire to this one very nice...

This will have me sleep tight for a week. Thank you!!!!!

[randalln]

What ever you say champ. I bore with a pointless debate. SDRs mean nothing. You are confused. There is no such thing as RVs. You have been proven to be lying. You havent shown anything to support any of your claims, only a stupid link to SDRs which is irrelavent. You also havent answered the questions myself and others have asked wich shows you are a joke. Your reading and writing skills reflect your tiny IQ and any further debate with you is simply a waste of time.

ONE LAST HOLE FOR YOU TO CRAWL IN

bet ya dont believe that St.Nicholas was real either

Singapore revalues currency as Q1 GDP surgesWRITTEN BY REUTERS WEDNESDAY, 14 APRIL 2010 10:21

Singapore’s central bank aggressively tightened its monetary policy on Wednesday by effectively revaluating the Singapore dollar, after the economy grew at a record pace in the first quarter.

The central bank also switched to a policy of modest and gradual appreciation for the Singapore dollar, which climbed to a five-month high after the move, and said the economy had fully recovered from its worst ever recession.

The decision came as the economy expanded a bigger-than-expected 32.1 % from the previous quarter on an seasonally adjusted and annualised basis, the highest since records began in 1975.

“The Singapore economy has rebounded from the downturn and is expected to continue on its firm recovery path...at the same time, inflationary pressures are likely to pick up,” the Monetary Authority of Singapore (MAS) said in a statement.

It said economy has now fully recovered the output lost during the recession, and several industries have already exceeded their pre-crisis peaks.

The central bank only sets policy twice a year and manages the Singapore dollar (SGD=) in a secret trade-weighted band against a basket of currencies, instead of setting interest rates.

At its last meeting in October 2009 the monetary authority maintained a policy of zero appreciation for the currency after it eased policy in April 2009 in an effective one-off devaluation to cushion the economy during the financial crisis.

The Singapore dollar strengthened to 1.3794/98 against the U.S. dollar by 0124 GMT from 1.3916 before the policy decision, and other Asian currencies also rose. The Singapore dollar has gained 1.8% so far this year, still less than most emerging Asian market currencies.

Foreign exchange and interest rate market players had been betting the central bank would tighten policy, following the regional lead of Malaysia and India last month, though few expected it to both revalue the currency and let it climb further.

Singapore’s trade-dependent economy expanded 13.1 % from a year ago in the first quarter, the strongest growth since 1994 and better than expectations of 11 % growth, as manufacturing of pharmaceuticals and electronics picked up.

The economy shrank 2% last year.

“It’s not just a Singapore story. It’s Asia doing extremely well against the rest of the world. Singapore’s data today confirms it,” said Endre Pedersen, executive director of fixed income at MFC Global, the asset management arm of Canadian insurer Manulife.

Hong Kong-based Pedersen, who helps manage about $15 billion in Asian fixed income, said Singapore bonds remained attractive at the long end of the curve, with 10-year government bonds yielding around 2.8% compared with 0.53% for two-year paper.

Singapore, home to the world’s top container shipping port and a base to multinationals such as GlaxoSmithKline (GSK.L) and ExxonMobil (XOM.N) is seen as a barometer for world trade and is among the first Asian countries to release economic data.

I THINK YOU SHOULD PICK YOUR FIGHTS A LITTLE BETTER

gotta say randy you brought the fire to this one very nice...

thanks Easy

Felt like the good old times back when WE had to school Keep

[jackster]

lets start here first .......just so you know 2 years ago i brought most of the info that still circulates today on these sites

Special drawing rights (SDRs) are supplementary foreign exchange reserve assets defined and maintained by the International Monetary Fund (IMF). Not a currency, SDRs instead represent a claim to currency held by IMF member countries for which they may be exchanged.^[1] As they can only be exchanged for euros, Japanese yen, pounds sterling, or US dollars,^{[imf 1]} SDRs may actually represent a potential claim on IMF member countries' nongold foreign exchange reserve assets, which are usually held in those currencies. While they may appear to have a far more important part to play, or, perhaps, an important future role, being the unit of account for the IMF has long been the main function of the SDR.^{[Williamson 1]}

Created in 1969 to supplement a shortfall of preferred foreign exchange reserve assets, namely gold and the US dollar, the SDR's value is defined by a weighted currency basket of four major currencies: the Euro, the US dollar, the British pound, and the Japanese yen.^[1] SDRs are denoted with the ISO 4217 currency code XDR.^[2]

SDRs are allocated to countries by the IMF.^[1] Private parties do not hold or use them.^{[Williamson 2]} As of March 2011, the amount of SDRs in existence is around XDR 238.3 billion, but this figure is expected to rise to XDR 476.8 billion by 2013.^[3]

This is a beef run down of what the SDR is for the people that dose not know

A unit of account is a standard monetary unit of measurement of value/cost of goods, services, or assets. It is one of three well-known functions of money. It lends meaning to profits, losses, liability, or assets.

The accounting monetary unit of account suffers from the pitfall of not being a stable unit of account over time. Inflation destroys the assumption that money is stable which is the basis of classic accountancy. In such circumstances, historical values registered in accountancy books become heterogeneous amounts measured in different units. The use of such data under traditional accounting methods without previous correction often leads to invalid results.^[1]

Contents

[hide]

• 1 Uses
  • 1.1 Modern finance

  [*]2 See also[*]3 References[*]4 External links[*]

This is not proof. It does not prove anything.

So how does this tie into your niece cashing out with her debit card? I guess all Gov. officials in Iraq have cashed in for SDRs on their debit cards huh? Tell us some more there randalln.

Randall,

Could you 'prove' that your niece has this debit card? And that she gets this great exchange?

Even if you say it does not mean it's true. What proof do you have that you can show to us here?

where in any of this is there minion of cashing dinar holders ....there are none they have all been cashed out if they work for the government of iraq ....and converted to digital currency ......if the want cash the go to the bank like every one else dose

Have you ever had a job other than mowing yards son

you don't get payed in cash any more

not with a unit

I worked for RIO project(Halliburton)not KBR in 03-05 where i moved to RMS( red horse USAF)

Before moving to FLUOR FGG

Really? Prove it!

heres the link

http://www.imf.org/external/pubs/ft/ar/98/pdf/file06.pdf

Why do you think its so important for IRAQ to keep getting all the extensions

as of the 15 of this month all extensions expire for iraq and there currency will the revert to the $dollar

and at this time they will either sink or swim

There currency has to be on line at that time at the rate they wish to move forward with

I would suggest you read the doc ...i set forth on the link

it is very long but it explains why in 1998 the where placed on a peg restriction

and why ever year leading up to and all during the war .........have been extended

and now you couple that with ....all the news you surely know about the protection expiring in jun.2012

and you have your ........wait for it .....................................REINSTATEMENT that is spelled R/I not R/V

and now you couple that with ....all the news you surely know about the protection expiring in jun.2012

and you have your ........wait for it .....................................REINSTATEMENT that is spelled R/I not R/V

Randall,

If I understand you correctly, June 15, 2012 the IQD will have a reinstatement. Not a revaluation, but a reinstatement.

[RRSport]

Sonny, a while back you said to watch oil. Can you clarify what exactly you

meant? Please.

Prob best to start your own thread rather than sidetrack this one.

Sorry to have to say this guys,

sonny1, I have been a huge fan of yours over the years, and that won't change, but I have to say, personalities and agendas have seemingly overcome this site, and unfortunately, that being said, we seem to have lost sight of whether this has anything to do with the dinar or not. More importantly, whether dinarck is a lopster or not really has not significance to me. It will either happen to our satisfaction or it won't. We all hope for an outcome of some semblance of a good return on our initial investment, but I am discouraged about the way peeps keep calling one another out, or the (he said, she said) mentality has overrun what we all used to do which was research information, look at anything that had significance, review it, discern it, decide whether it was worth posting something about, etc. I apologize in advance for airing my feelings, but I am sick and tired of the tirades, and not dealing with information that might be pertinent or not. Just my opinion. UR

So truth and accountability have no place just because its the internet?

[Luigi1]

my friend is my................. niece from the php.

And she works for a Iraqi Gov. official as a server

And she uses her dinar at 1 to 1 ratio with the dollar there ....(all on a debt.card )its how they are paid and carries a different rate( bet you did not know that) ........in and out of the green zone

and if any of you had real boots on the ground ...in Iraq you would Know or have been told what the real truth is

Not those boots that stay under the bed,some medic,or fire fighter that can't leave there LSA dew to security constriction set in force by the GOI

for the reason of keeping there in house......IN HOUSE

and if there is people that say they come on here and are in the green zone ...BS they are on media lock for the NET and this site as with 1000's of others are not allowed on Gov. sat coms

and for all you they THINK THEY USE THE USD for purchase ....the GOI uses the SDR (special drawing rights 1.53 to 1 dollar )and they are pegged to it

They sell dollars and buy SDR's from the WORLD BANK though the IMF program for developing economies just like so many other countries ON THE PLANET

so BAM<BAM BAM

now prove me wrong

I have two contrator friends of mine in GZ working for the US Embassy with Allied Power.

There are no Ameicans or military paid in IQD. There are no Embassy military staff walking around with cash in vouchers. Nobody has cash in at the RV rate.

What has happened & you are correct on this one...Debit cards have been issued to Iraqis & are automatically loaded each month. This is the 1st phase of the GOI or sharing of the oil wealth by the people with more baby steps to follow. The rate will improve once the tariffs go into affect.

The debit cards are loaded at a special rate above the official exchange rate to encorage Iraqis to dump USD & to give up their 25K IQD notes. It's part of a strategy put in place by CBI to get as many big notes off the streets & it's working.

If & when the RV does happen...CBI will be in better position to handle the RV.

I can varify all this with a simple e-mail.

[dinarck]

ONE LAST HOLE FOR YOU TO CRAWL IN

bet ya dont believe that St.Nicholas was real either

Singapore revalues currency as Q1 GDP surgesWRITTEN BY REUTERS WEDNESDAY, 14 APRIL 2010 10:21

Singapore’s central bank aggressively tightened its monetary policy on Wednesday by effectively revaluating the Singapore dollar, after the economy grew at a record pace in the first quarter.

U

The central bank also switched to a policy of modest and gradual appreciation for the Singapore dollar, which climbed to a five-month high after the move, and said the economy had fully recovered from its worst ever recession.

The decision came as the economy expanded a bigger-than-expected 32.1 % from the previous quarter on an seasonally adjusted and annualised basis, the highest since records began in 1975.

“The Singapore economy has rebounded from the downturn and is expected to continue on its firm recovery path...at the same time, inflationary pressures are likely to pick up,” the Monetary Authority of Singapore (MAS) said in a statement.

It said economy has now fully recovered the output lost during the recession, and several industries have already exceeded their pre-crisis peaks.

The central bank only sets policy twice a year and manages the Singapore dollar (SGD=) in a secret trade-weighted band against a basket of currencies, instead of setting interest rates.

At its last meeting in October 2009 the monetary authority maintained a policy of zero appreciation for the currency after it eased policy in April 2009 in an effective one-off devaluation to cushion the economy during the financial crisis.

The Singapore dollar strengthened to 1.3794/98 against the U.S. dollar by 0124 GMT from 1.3916 before the policy decision, and other Asian currencies also rose. The Singapore dollar has gained 1.8% so far this year, still less than most emerging Asian market currencies.

Foreign exchange and interest rate market players had been betting the central bank would tighten policy, following the regional lead of Malaysia and India last month, though few expected it to both revalue the currency and let it climb further.

Singapore’s trade-dependent economy expanded 13.1 % from a year ago in the first quarter, the strongest growth since 1994 and better than expectations of 11 % growth, as manufacturing of pharmaceuticals and electronics picked up.

The economy shrank 2% last year.

“It’s not just a Singapore story. It’s Asia doing extremely well against the rest of the world. Singapore’s data today confirms it,” said Endre Pedersen, executive director of fixed income at MFC Global, the asset management arm of Canadian insurer Manulife.

Hong Kong-based Pedersen, who helps manage about $15 billion in Asian fixed income, said Singapore bonds remained attractive at the long end of the curve, with 10-year government bonds yielding around 2.8% compared with 0.53% for two-year paper.

Singapore, home to the world’s top container shipping port and a base to multinationals such as GlaxoSmithKline (GSK.L) and ExxonMobil (XOM.N) is seen as a barometer for world trade and is among the first Asian countries to release economic data.

I THINK YOU SHOULD PICK YOUR FIGHTS A LITTLE BETTER

thanks Easy

Felt like the good old times back when WE had to school Keep

Wow!!!!

Good job showing me a ”RV” of 1.8%. Haha. Wouldnt we really call that a slight appreciation? You seem so proud of yourself yet you havent shown us anything except stupidity.

So by the end of the week the Dinar is going to ”RV” by 300,000% huh Randalln? That is what you said backed up by your little SDR link.

ONE LAST HOLE FOR YOU TO CRAWL IN

bet ya dont believe that St.Nicholas was real either

Singapore revalues currency as Q1 GDP surgesWRITTEN BY REUTERS WEDNESDAY, 14 APRIL 2010 10:21

Singapore’s central bank aggressively tightened its monetary policy on Wednesday by effectively revaluating the Singapore dollar, after the economy grew at a record pace in the first quarter.

U

The central bank also switched to a policy of modest and gradual appreciation for the Singapore dollar, which climbed to a five-month high after the move, and said the economy had fully recovered from its worst ever recession.

The decision came as the economy expanded a bigger-than-expected 32.1 % from the previous quarter on an seasonally adjusted and annualised basis, the highest since records began in 1975.

“The Singapore economy has rebounded from the downturn and is expected to continue on its firm recovery path...at the same time, inflationary pressures are likely to pick up,” the Monetary Authority of Singapore (MAS) said in a statement.

It said economy has now fully recovered the output lost during the recession, and several industries have already exceeded their pre-crisis peaks.

The central bank only sets policy twice a year and manages the Singapore dollar (SGD=) in a secret trade-weighted band against a basket of currencies, instead of setting interest rates.

At its last meeting in October 2009 the monetary authority maintained a policy of zero appreciation for the currency after it eased policy in April 2009 in an effective one-off devaluation to cushion the economy during the financial crisis.

The Singapore dollar strengthened to 1.3794/98 against the U.S. dollar by 0124 GMT from 1.3916 before the policy decision, and other Asian currencies also rose. The Singapore dollar has gained 1.8% so far this year, still less than most emerging Asian market currencies.

Foreign exchange and interest rate market players had been betting the central bank would tighten policy, following the regional lead of Malaysia and India last month, though few expected it to both revalue the currency and let it climb further.

Singapore’s trade-dependent economy expanded 13.1 % from a year ago in the first quarter, the strongest growth since 1994 and better than expectations of 11 % growth, as manufacturing of pharmaceuticals and electronics picked up.

The economy shrank 2% last year.

“It’s not just a Singapore story. It’s Asia doing extremely well against the rest of the world. Singapore’s data today confirms it,” said Endre Pedersen, executive director of fixed income at MFC Global, the asset management arm of Canadian insurer Manulife.

Hong Kong-based Pedersen, who helps manage about $15 billion in Asian fixed income, said Singapore bonds remained attractive at the long end of the curve, with 10-year government bonds yielding around 2.8% compared with 0.53% for two-year paper.

Singapore, home to the world’s top container shipping port and a base to multinationals such as GlaxoSmithKline (GSK.L) and ExxonMobil (XOM.N) is seen as a barometer for world trade and is among the first Asian countries to release economic data.

I THINK YOU SHOULD PICK YOUR FIGHTS A LITTLE BETTER

thanks Easy

Felt like the good old times back when WE had to school Keep

Edited June 12, 2012 by dinarck

[Goodlife]

Dinarck

Hi, I dont usually venture into the lop section, so could you lay out your belief concerning the IQD. What you believe will happen and what you want to happen.

Edited June 12, 2012 by Goodlife

[caz1104]

Sorry to have to say this guys,

sonny1, I have been a huge fan of yours over the years, and that won't change, but I have to say, personalities and agendas have seemingly overcome this site, and unfortunately, that being said, we seem to have lost sight of whether this has anything to do with the dinar or not. More importantly, whether dinarck is a lopster or not really has not significance to me. It will either happen to our satisfaction or it won't. We all hope for an outcome of some semblance of a good return on our initial investment, but I am discouraged about the way peeps keep calling one another out, or the (he said, she said) mentality has overrun what we all used to do which was research information, look at anything that had significance, review it, discern it, decide whether it was worth posting something about, etc. I apologize in advance for airing my feelings, but I am sick and tired of the tirades, and not dealing with information that might be pertinent or not. Just my opinion. UR

Thank you for the excellent post.

[caz1104]

gotta say randy you brought the fire to this one very nice...

Funny part bout this thread is the ones who keep saying Randy is lying (and he just might be) bring no proof other than saying so. And expect Randy to prove he's not,kinda a*s backwards.

[jackster]

Funny part bout this thread is the ones who keep saying Randy is lying (and he just might be) bring no proof other than saying so. And expect Randy to prove he's not,kinda a*s backwards.

Randall made his own claims. It's his responsibility to prove his statements.

[MyLadiesDaddy]

Funny part bout this thread is the ones who keep saying Randy is lying (and he just might be) bring no proof other than saying so. And expect Randy to prove he's not,kinda a*s backwards.

Was just reading over this thread again and thinking the same thing.

Like easy said, Rand sure brought the muster to this fight. I am impressed.