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CBI and IMF agree on exchange rate


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I commend Dinarian TBomb for getting it correct. The CBI and MOF are reviewed by the IMF semi-annually. They cant change the rate or the exchange type without approval.  Although the CBI is an independent body it must work at arms length to stabilize the economy.

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Well, gymrat.  I see where you copied my post, but I don't see a response.  I am therefore assuming that you completely agree with my opinion that the iraqi dinar RV is a scam.  Welcome to the tank.

So why did they print up the same 10k and  25k notes if they were planning on a simple LOP?, they wouldnt need them.  Why didnt they go live internationally with the ISX with 1166 if that is indeed th

The rate is 1166 to 1 no matter how much spin the dinar community wants to put on it.  If and when the CBI issues new currency without the three zeros, which incidentally, is exactly what they are say

sorry to see you banned from the news section rockfl9

Your posts were appreciated . I am under review also.

I got a bit upset seeing you banned when you always followed the rules

Not sure when people will get tired of calling smoke and mirrors

Iraq is on fire right now. That's the truth

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The rate is 1166 to 1 no matter how much spin the dinar community wants to put on it.  If and when the CBI issues new currency without the three zeros, which incidentally, is exactly what they are saying they will do, the exchange rate will change to .86 simultaneously.  You can't do it any other way.  I will be a happy man when ALL dinarians finally understand this simple fiscal fact.  The ONLY way you can drop the three zeros off the bills is by doing a currency re-print with a new ISO code.  1000 dinars will become 1 dinar.  The exchange rate will go from .00086 to .86 simultaneously with the new currency issue.

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The rate is 1166 to 1 no matter how much spin the dinar community wants to put on it.  If and when the CBI issues new currency without the three zeros, which incidentally, is exactly what they are saying they will do, the exchange rate will change to .86 simultaneously.  You can't do it any other way.  I will be a happy man when ALL dinarians finally understand this simple fiscal fact.  The ONLY way you can drop the three zeros off the bills is by doing a currency re-print with a new ISO code.  1000 dinars will become 1 dinar.  The exchange rate will go from .00086 to .86 simultaneously with the new currency issue.

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Ewingm : The rate right now is 1166 to 1USD. Because that is where the CBI and  IMF agree it should be.  There is no one button to push no backroom screens to load. If the rate is to change it will come some time after a IMF consultation.  

The dinar itself is not a SCAM. The promotion of the dinar as a sure to profit "investment" is a CON (Confidence Game) . It is unfortunate that so many people could be so easily hoodwinked  by  such a simple but well executed scheme.

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Well executed and packaged up real pretty for the easily gulled.  It made a lot of people a lot of money except for the poor deluded who bought the stuff.  But its been six long years now, and that's plenty of time to come to ones senses and sell .  I don't feel sorry for the faithful like DB who will never sell for any reason.  You can't fix stupid, as Forrest Gump's mother used to say.

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Well executed and packaged up real pretty for the easily gulled.  It made a lot of people a lot of money except for the poor deluded who bought the stuff.  But its been six long years now, and that's plenty of time to come to ones senses and sell .  I don't feel sorry for the faithful like DB who will never sell for any reason.  You can't fix stupid, as Forrest Gump's mother used to say.

The IQD is undervalued and thats a fact Jack!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

And keep on quoting your (boring) forbes article ewingm LOL how is your family; let them know they can join my gang on FB

I forgot to add this ewingm _ the dinar is not just undervalued but actually grossley undervalued-me thinks your the foolish one!

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Ewingm: I agree.  But admitting a mistake , especially when you may have caused others to be taken by it , is a hard thing to swallow.  It sort of becomes a thing of honor, sort of a religion...It is going to be a difficult thing to unwind .  I wince when I read things like DELTA can interpret Iraqitv!..

The Iraqis have a Mafia like government , the poor will continue to be opressed. They themselves are being deluded that OIL will solve all their problems.

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Ewingm: I agree.  But admitting a mistake , especially when you may have caused others to be taken by it , is a hard thing to swallow.  It sort of becomes a thing of honor, sort of a religion...It is going to be a difficult thing to unwind .  I wince when I read things like DELTA can interpret Iraqitv!..The Iraqis have a Mafia like government , the poor will continue to be opressed. They themselves are being deluded that OIL will solve all their problems.

My quote of Al iraqiya TV is not from delta
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Ewingm: Please dont spar with DB.  He is  a Brit pumper and that will only drive prospects away with the traffic. Few US posters read him anyway.  Put him on ignore .

hey ya rocky aka lopsters which one of the past shills are ya!

I bet rockstar you have the whole of the usa following you oh great important one!

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The IQD is undervalued and thats a fact Jack!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

And keep on quoting your (boring) forbes article ewingm LOL how is your family; let them know they can join my gang on FB

I forgot to add this ewingm _ the dinar is not just undervalued but actually grossley undervalued-me thinks your the foolish one!

If the dinar was so undervalued, they would raise the value to match it's worth since they are having such an issue with the faith behind the dinar...but they havent, so what does that tell you genius?

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If the dinar was so undervalued, they would raise the value to match it's worth since they are having such an issue with the faith behind the dinar...but they havent, so what does that tell you genius?

So why did they print up the same 10k and  25k notes if they were planning on a simple LOP?, they wouldnt need them.  Why didnt they go live internationally with the ISX with 1166 if that is indeed the TRUE value of the dinar to the U.S dollar?  why are they waiting so long to make a move for a neutral event? also why did they specifically say the process would take 5 years of the deletion of 3 zeroes? how could a LOP take 5 years? un less it means phasing out the 3 zero notes over a period of 5 years while they gradualy introduce he smaller denoms to the public These are serious questions BTW

Edited by easyrider
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Ewingm : The rate right now is 1166 to 1USD. Because that is where the CBI and  IMF agree it should be.  There is no one button to push no backroom screens to load. If the rate is to change it will come some time after a IMF consultation.  

The dinar itself is not a SCAM. The promotion of the dinar as a sure to profit "investment" is a CON (Confidence Game) . It is unfortunate that so many people could be so easily hoodwinked  by  such a simple but well executed scheme.

Hey Rockfl9

So how was the CBI able to move the rate pre 1170 rate almost daily pre 2009

What changed in their monetary regime

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So why did they print up the same 10k and  25k notes if they were planning on a simple LOP?, they wouldnt need them.  Why didnt they go live internationally with the ISX with 1166 if that is indeed the TRUE value of the dinar to the U.S dollar?  why are they waiting so long to make a move for a neutral event? also why did they specifically say the process would take 5 years of the deletion of 3 zeroes? how could a LOP take 5 years? un less it means phasing out the 3 zero notes over a period of 5 years while they gradualy introduce he smaller denoms to the public These are serious questions BTW

Serious answers for you EASY.

It was estimated that it would cost the CBI 32M USD to accomplish the change out. They dont have it. Stretching it out to 5 years instead of 3 helps.

They need at least one big law passed to legitimize the conversion, principally how all accounts of old dinar will be adjusted to the new dinar and make it illegal for anyone to profit by it. At Iraqi pace, at least a year if not contested.

Then there is the big problem of the psychological pay cut.  Example: Say an MP gets 100m Iqd a year , if he approves the law he will only get 100K new iqd a year. Supposedly the same value but in most minds , a pay cut!. Take that into the next election.

The economy needs more cash. Plastic doesn't work there. The only solution now is to print more. And that's not wasteful, because if they do lop in the future those bills will still be used until phased out.

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Serious answers for you EASY.It was estimated that it would cost the CBI 32M USD to accomplish the change out. They dont have it. Stretching it out to 5 years instead of 3 helps.They need at least one big law passed to legitimize the conversion, principally how all accounts of old dinar will be adjusted to the new dinar and make it illegal for anyone to profit by it. At Iraqi pace, at least a year if not contested.Then there is the big problem of the psychological pay cut.  Example: Say an MP gets 100m Iqd a year , if he approves the law he will only get 100K new iqd a year. Supposedly the same value but in most minds , a pay cut!. Take that into the next election.The economy needs more cash. Plastic doesn't work there. The only solution now is to print more. And that's not wasteful, because if they do lop in the future those bills will still be used until phased out.

Look at you rock answering easy riders question which was never addressed to you but your fellow troll keepem - your important rocky
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Serious answers for you EASY.

It was estimated that it would cost the CBI 32M USD to accomplish the change out. They dont have it. Stretching it out to 5 years instead of 3 helps.

They need at least one big law passed to legitimize the conversion, principally how all accounts of old dinar will be adjusted to the new dinar and make it illegal for anyone to profit by it. At Iraqi pace, at least a year if not contested.

Then there is the big problem of the psychological pay cut.  Example: Say an MP gets 100m Iqd a year , if he approves the law he will only get 100K new iqd a year. Supposedly the same value but in most minds , a pay cut!. Take that into the next election.

The economy needs more cash. Plastic doesn't work there. The only solution now is to print more. And that's not wasteful, because if they do lop in the future those bills will still be used until phased out.

 

If plastic doesnt work there why are they issuing out smart cards? why are they updating their banking platforms and laws? why NOT stay in the stone age only dealing with tattered currency and nothing else.  Why are they adding ATM machines in certain provinces? seems plastic will be used alot more then you think it will.

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They are simply printing the new currency to replace the tattered torn currency, but now when they reprint they have to use the new safe guards and language required by law.  This has nothing to do with an RI, RD or RV.  Its just replacement currency.  Just like our new funny looking 100's and 50's

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