conversation today with former IMF/World bank employee

[RVWITHME]

I have to say, that person was not in the know. The IMF, The Federal Reserve, The Vatican Bank, The Bank of England and the World Bank set world currency rates. (period!) It's a rigged system people. Wake up to what is happening in the financial world (mystery babylon).

WM13

 

WM13,

Lettin the cat outta the bag, eh?

Just don't tell them about the Lord Mayor of the Crown City Of London!

Most people think there is only one London and that the Queen runs it.

TMI for some...

Don't tell them the truth about Santa or the Easter Bunny either.

At least the Tooth Fairy lets you sleep.

[SocalDinar]

That's funny you mention stastically our ignorance Hame

But you must know that stastically more people on Welfare are liberals that's a fact

[gatoraces]

We need to keep in mind that Iraq wants to be a super power and that their money was once worth a lot. They are very proud people. They can't be #1 with their currency being so low.

This whole post is guru speak. Who told you any of that is true?

[umbertino]

HMMMM, Lemme see if I got this story straight...

 

20 years @ IMF and another 10 @ World Bank?

This is 3rd Wife that Died on him?

Now he's moving out of town to make new friends at his age?

 

Makes one wonder what those 3 wives may have found out about now, doesn't it?

Did you maybe happen to see  the Charlie Chaplin movie " Monsieur Verdoux"? Great movie indeed.

[Rasica]

They presently do not need to raise the value due to the oil being traded in USD and the IQD is not even released yet to their GDP/GNP.

[billio0]

Ditto BillioO.

Thanks Carrello.

 

It sure is good to hear you're still around. Hopefully, they will soon get this thing over with and done, and we can then celebrate around the water cooler.

 

Also, to everyone else here making contributions to this post, thanks for providing sane and civil discourse on our investment without the name-calling, disrespect, and all the other negative foolishness that can and has occurred in the past. It is so refreshing, I almost don't want it to end for that silly RV!

 

Of course, I DID say ALMOST! Hope to meet you all at that water cooler real soon.

 

Billio0

[haymon]

Funny I LOOK like a multimillionaire............ but I don't have the bank account to back it up..  

[mcjocky1]

Did you maybe happen to see  the Charlie Chaplin movie " Monsieur Verdoux"? Great movie indeed.

   RVWITHME's eyesight may have been better back then, well much better than it seems to be now.

  2nd. line, "he mentioned he had been married twice, and both wives had passed"

 

  One other point, I will with 100% certainty, should it ever come to pass, that my finances should allow it, drag my 64yr.old ass to somewhere totally different to where I live now, and make friends with whoever I like, but still remain close to my longtime true friends. LOL.  

[TrinityeXchange]

The difference between China and Iraq are night and day, especially with their money and debt (or lack of).

I think my point may have been lost once I used China for an example of.  I am not comparing their economies.  I am speaking expressly about currency manipulation. 

 

From my understanding, the IMF has demanded that Iraq dedollarize their economy.  Please check out this link on Iraq's dedollarization  by the IMF in accordance with the Stand By Arrangement.  We heard Shabibi speak on many occassions mention dedollarization although we don't hear it mentioned as much in the news as we used to.  So, from my research and understanding, Iraq is not to stay on the US dollar indefinitely.  This means that they will have to use their own currency.  Once they do this, will they be allowed to continue exporting massive amounts of oil with such a marginally valued currency?  This is where I don't believe they will be allowed to.  Why?  Because of membership into the IMF & WTO.  The IMF requires countries to avoid manipulation of their currency's exchange rate.  Here is a short publication by the Congressional Research Service "Currency Manipulation: The IMF and WTO" that condemns it in the first couple of paragraphs.  Can Iraq be granted new membership into the WTO and make its debut performing extreme manipulation of their currency in order to gain a huge trade advantage over the rest of the members? 

 

If the IQD's true value is (let's say) $1 usd - $ iqd but Iraq depresses the value to remain at $1200 iqd - $1 usd so that they can realize a huge benefit on exports, there will be a huge outcry from the global community.  especially since Iraq will be a major player in global energy.  It could quite literally disrupt global currency markets. 

[hope4rv]

I don't post much, but follow all the postings..  I have one question, would not their imports be much cheaper if they raised the value of the dinar and actually use it internationally?

[rockfl9]

Yes , But the value of their exports (in dinar) would be reduced. Can't have one without the other.