RV... RV Not.....???

[dontlop]

If they were pumping 10 million barrels a day that's a billion dollars a day

Or 365 billion a year

That is 10 years away

They need to get that much from their private sector too

That could be 10 years away too if they are smart

Which I'm having my doubts about their intelligence level

They remind me of a bunch of 8 week old puppy's when ya put down a bowl of food

They all attack it and hog it down

Like that's the last bowl of food in the universe

All I can say is kick back and don't spend your entire life waiting for a rv tommarro

It could take years for something to happen

The dinar is good

Its legal tender monetized by the central govt of Iraq

It could be awhile to see the benifits

Edited August 12, 2014 by dontlop

[RVWITHME]

I guess Iraq could always resort to fractional reserve banking and forget the fundamentals?

 

No easy answers and most days I feel like one of Okies ships at sea except I'm running out of gas and my shortwave quit.

 

Everyday is a new adventure with this IQD, sometimes it feels like a fairly smart investment and some days I feel like I just plunked it all on red at the roulette wheel.

 

Either way, none of this will matter a bit to me in 100 years, so I'm going to be content just to be on the ride, no matter where it goes.

[dontlop]

The New Iraqi Dinar (NID) - a free floating currency - was introduced in January 2004 together with a new monetary control system. There are no restrictions or taxes on the purchase or sale of currency; the CBI carries out a regular currency auction in order to stabilize the exchange rate, which now stands around 1300 NID to the US $. The NID is fully convertible and there are no restrictions on capital flows.

http://www.iraqitic.com/iraqiTIC_policyEnvironment_ar.php

Iraq trade information center web site

3. For purposes of monitoring under the program, a program exchange rate will be

used. This program exchange rate will be set at ID 1,170 per U.S. dollar. The program

exchange rate will be used to convert into Iraqi dinars the U.S. dollar value of all CBI foreign

assets and liabilities denominated in U.S. dollars, as required. For CBI assets and liabilities

denominated in SDRs and in foreign currencies other than the U.S. dollar, they will be

converted in U.S. dollars at their respective SDR-exchange rates prevailing as of

December 31, 2010, as published on the IMF’s website.

http://www.imf.org/external/pubs/ft/scr/2011/cr1175.pdf

24. Staff supports the CBI’s policy of managing the exchange rate of the Iraqi dinar

to keep inflation low. A stable exchange rate continues to provide a solid anchor for the

public’s expectations in an otherwise highly uncertain environment. Over time, rising oil

revenues could put upward pressure on the real exchange rate, which would warrant allowing

greater exchange rate flexibility. Staff also welcomes the authorities’ continued commitment

to safeguard the independence of the CBI, which is critical for maintaining confidence in the

Iraqi dinar.

So Iraq needs to continue to raise the oil production

.

Edited August 12, 2014 by dontlop

[Nadita]

If they were pumping 10 million barrels a day that's a billion dollars a day

Or 365 billion a year

That is 10 years away

They need to get that much from their private sector too

That could be 10 years away too if they are smart

Which I'm having my doubts about their intelligence level

They remind me of a bunch of 8 week old puppy's when ya put down a bowl of food

They all attack it and hog it down

Like that's the last bowl of food in the universe

All I can say is kick back and don't spend your entire life waiting for a rv tommarro

It could take years for something to happen

The dinar is good

Its legal tender monetized by the central govt of Iraq

It could be awhile to see the benifits

 

Dontlop

 

That's why they need you to teach them about balancing their sheets I don't want to wait 10 more years.. I want it now lol

The New Iraqi Dinar (NID) - a free floating currency - was introduced in January 2004 together with a new monetary control system. There are no restrictions or taxes on the purchase or sale of currency; the CBI carries out a regular currency auction in order to stabilize the exchange rate, which now stands around 1300 NID to the US $. The NID is fully convertible and there are no restrictions on capital flows.

http://www.iraqitic.com/iraqiTIC_policyEnvironment_ar.php

Iraq trade information center web site

3. For purposes of monitoring under the program, a program exchange rate will be

used. This program exchange rate will be set at ID 1,170 per U.S. dollar. The program

exchange rate will be used to convert into Iraqi dinars the U.S. dollar value of all CBI foreign

assets and liabilities denominated in U.S. dollars, as required. For CBI assets and liabilities

denominated in SDRs and in foreign currencies other than the U.S. dollar, they will be

converted in U.S. dollars at their respective SDR-exchange rates prevailing as of

December 31, 2010, as published on the IMF’s website.

http://www.imf.org/external/pubs/ft/scr/2011/cr1175.pdf

24. Staff supports the CBI’s policy of managing the exchange rate of the Iraqi dinar

to keep inflation low. A stable exchange rate continues to provide a solid anchor for the

public’s expectations in an otherwise highly uncertain environment. Over time, rising oil

revenues could put upward pressure on the real exchange rate, which would warrant allowing

greater exchange rate flexibility. Staff also welcomes the authorities’ continued commitment

to safeguard the independence of the CBI, which is critical for maintaining confidence in the

Iraqi dinar.

So Iraq needs to continue to raise the oil production

.

 

Dontlop

 

You think all of these articles will matter if the rv comes tomorrow.. we all will run like a stampede to the bank and what matters, is going to be what we are going to do forward until then it's all speculation until proven real

[RVWITHME]

IMF link not active for me.

 

It does bring up a question as to when does the program exchange rate expire (if ever) since it was stated to only be a monitoring mechanism.

[dontlop]

I don't think you can just run to a bank with dinar.

The Iraqi govt will cover themselves before they would rv

They would float the currency and go under IMF article 8

And redeem the dinar for goods and services

They won't issue dollars for dinar

China has over two trillion US dollars in their reserves

Do ya think they can bring them to the USA and demand Chinese yaun ?

The USA doesn't issue yaun

China does

[Nadita]

Lol

There's not much to write

It's all about the trade balance of real goods and services

You can't buy more imports than you export

The figures are public for everyone to see

Iraqs soveriegn income is 100 billion a year

Right now they import around 65 billion dollars out of that income

Leaving them with 35 billions year to rv

So they right now can rv about two tenths of a penny

With 80 trillion dinar in existance

So how can they get rid of that amount of dinar?

 

Dontlop :0

 

I know how they can get rid of that amount of dinar..? stuff it in your pocket lol 

I don't think you can just run to a bank with dinar.

The Iraqi govt will cover themselves before they would rv

They would float the currency and go under IMF article 8

And redeem the dinar for goods and services

They won't issue dollars for dinar

China has over two trillion US dollars in their reserves

Do ya think they can bring them to the USA and demand Chinese yaun ?

The USA doesn't issue yaun

China does

 

Dontlop

 

You are preaching to the choir lol you are so passionate about this..  let me guess.. either you are an economist, engineer, financial planner or jack of all trades...? which one lol

Edited August 12, 2014 by Nadita

[dontlop]

Dollars are redeemable for another dollar or goods and services

Not foriegn currency

Now if you can find a buyer you can trade your dinar for dollars or any only her currency that has a buyer for ya

Iraq has around 10 billion in exports in private sector trade each year

So if Iraq govt passes legal tender laws that you buy Iraqi goods with dinar only

The. All those people who are buying those 10 billion a year of goods and services from Iraq would need to convert into dinar first

So hen there is a demand created for dinar and a market for you to sell them

If Iraq is selling Iraqi figs to fig newton company

You could call fig newton and see if they would like a deal on dinar to buy their figs

Just an example

Or just use the forex

[Nadita]

Dontlop

 

Hahahaha.. you are very funny you just can't let go lol.. either you like to educate me on the subject or you like to talk to me.. so which one...? lol 

 

All that I know is that I give the dealer my ben and I get monopoly money.. when I go back there again, giving them my monopoly money, I get ben back but not as much as when I gave them first time lol 

[dontlop]

But how do ya get phisical dinar onto a forex?

And if Iraq makes laws that you need to convert to dinar I buy Iraqi goods

Iraq wouldn't need to have cbi auctions any more

They would be buying and selling dinar on the forex themselves

Yep dealers work too

Trillions of dollars in currency trade every day on the forex

Every govt buys and sells its own currency every day to keep it stable

[Nadita]

But how do ya get phisical dinar onto a forex?

And if Iraq makes laws that you need to convert to dinar I buy Iraqi goods

Iraq wouldn't need to have cbi auctions any more

They would be buying and selling dinar on the forex themselves

Yep dealers work too

 

I don't know.. I am going to leave it to you to worry about it lol . and just tell me later how you do it successfully  all I know I can go to the dealer and give them my dinar and I get my ben  

Edited August 12, 2014 by Nadita

[dontlop]

I can't talk to myself

So as long ask got you on the line I'm gonna keep spewing my bs

It just that usually I got to argue to talk

You just let me say what I want to say

I'll let cha go

[Nadita]

I can't talk to myself

So as long ask got you on the line I'm gonna keep spewing my bs

 

Then I will quit  been good talking to you.. just to let you know, I learn a lot from you.. thank you you should write about this and create a thread, unless people come to this thread and read.. they will not know you can bring something to the table  

[calkid11]

Thank you

[dontlop]

Testing 1234

Test

Test

Test

Testing 1234

[umbertino]

......or, this would all make a great movie. Lots of individual stories. I've thought of being "logical" and bailing

out upon occasion.......THEN, I get a sick feeling in my stomach that it might really RV on Monday!!.........

I know the feeling.

[millionaire in training]

Nadita,

 

That was a very interesting observation. I believe this RV will move rather quickly because Iraq needs to make a statement. They need to show the world that they can and will be a super country and they can be taken seriously. So many super players are backing them up.

 

The same way that we were all waiting to see who they were going to pick as PM out of the five names that were submitted and to our surprise it turned out to be Abadi.  This is about the same way things are going to happen with the RV   "surprisingly quick and sudden".    

 

They have an plan,  we just dont know the details.  But it's definitely in motion as we speak.    I dont think it will be long.  Iraq cant afford it.   They are being rushed to get this done.  

[Nadita]

Nadita,

 

That was a very interesting observation. I believe this RV will move rather quickly because Iraq needs to make a statement. They need to show the world that they can and will be a super country and they can be taken seriously. So many super players are backing them up.

 

The same way that we were all waiting to see who they were going to pick as PM out of the five names that were submitted and to our surprise it turned out to be Abadi.  This is about the same way things are going to happen with the RV   "surprisingly quick and sudden".    

 

They have an plan,  we just dont know the details.  But it's definitely in motion as we speak.    I dont think it will be long.  Iraq cant afford it.   They are being rushed to get this done.  

MIT

Agree with you...knowing Iraq .... Anything is possible... Who knows the ducks are in a row and have started to march

[yaker]

Nadita is right. We cling to anything that gives us HOPE! Why, because it picks us up and puts a smile on our face and a good feeling in our gut!

[dontlop]

Hey as long as Iraq is willing to become a war machine ally for the west

Maybe they will allow them to become very wealthy

I always thought they would eventually become a NATO member

And what a perfect location for that

This could be a test

They also put it through another test

Term limits

To verify they will not stand for the traditional dictatorships in the middle east

They fought for Maliki but in the end they were able to dump him

Could they of set this up to see if they would fight the terrorists or bow down to them

These terrorists rule all those country's

But maybe not iraq

[TQueezy]

Dontlop, what's the procedure for encouraging or enabling Iraq to import other sector goods and services besides weaponry? I mean they need good companies to help build up their agriculture, electric, construction, etc. what needs to be done to allow that to happen?

If they have a trade surplus and you're saying they pretty much only spend the remainder on military defense equipment and weapons, what would need to happen to cause a shift to the "right" type of import to expand their economy to support a substantial revaluation of their currency?

[ndantona]

Nadita,

 

That was a very interesting observation. I believe this RV will move rather quickly because Iraq needs to make a statement. They need to show the world that they can and will be a super country and they can be taken seriously. So many super players are backing them up.

 

The same way that we were all waiting to see who they were going to pick as PM out of the five names that were submitted and to our surprise it turned out to be Abadi.  This is about the same way things are going to happen with the RV   "surprisingly quick and sudden".    

 

They have an plan,  we just dont know the details.  But it's definitely in motion as we speak.    I dont think it will be long.  Iraq cant afford it.   They are being rushed to get this done.  

I hear you, but when you assert that Iraq needs to make a statement showing that they can be taken seriously as a "super country," having a military that is willing to fight and not run (a military, by the way, that is several times larger than ISIS and equipped with US supplied weaponry) would go a long way in showing the world that they could in fact be taken seriously.  A country with a military that will not fight can never be taken seriously.

Edited August 15, 2014 by ndantona

[ndantona]

I hear you, but when you assert that Iraq needs to make a statement showing that they can be taken seriously as a "super country," having a military that is willing to fight and not run (a military, by the way, that is several times larger than ISIS and equipped with US supplied weaponry) would go a long way in showing the world that they could in fact be taken seriously.  A country with a military that will not fight can never be taken seriously.

As an aside to what I just posted, I can't help being reminded of the following dialogue from one of the greatest films of all time which feeds my unease with the military situation in Iraq:

 

Michael Corleone: I saw a strange thing today. Some rebels were being arrested. One of them pulled the pin on a grenade. He took himself and the captain of the command with him. Now, soldiers are paid to fight; the rebels aren't.

Hyman Roth: What does that tell you?

Michael Corleone: They could win.

 

I will continue to hold onto my Dinar, but I can't help thinking that it is all a pipe dream.

Edited August 15, 2014 by ndantona

[ReinMan]

Until the government, including all ministers, is formed, seated, confirmed, reconfirmed, announced, and PUBLICLY PUBLISHED....

 

 

IGNORE EVERYONE!!!

[millionaire in training]

I hear you, but when you assert that Iraq needs to make a statement showing that they can be taken seriously as a "super country," having a military that is willing to fight and not run (a military, by the way, that is several times larger than ISIS and equipped with US supplied weaponry) would go a long way in showing the world that they could in fact be taken seriously.  A country with a military that will not fight can never be taken seriously.

Agreed............That is something that they definitely have to work on. Or they just wont survive or much less be taken seriously by anyone.

Edited August 18, 2014 by millionaire in training