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Stryker Issues A Kaperoni Smack Down !


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CNN. Broadcasting From Center Ring In A Footlocker Referee's Jersey - Gentleman Shake Hands And Come Out Pontificating !

 

 

 

12-11-2014   Newshound Guru Kaperoni   ...some overnight RV...It's not...going to happen.,    It's going to gradually rise (float) from the current rate at 1166.  This statement direct from the IMF Article IV Consultation is very clear..."staff encouraged the authorities to consider creating the conditions which would make possible a move to a more flexible exchange rate policy. Such flexibility could allow a predictable and gradual appreciation of the nominal exchange rate, triggered by strong oil revenues and the Balassa-Samuelson effect,".  No where in that statement does it say staff says RV then float, or staff wants the CBI to RV and then gradually raise the value.   What they DO say is..."Such flexibility could allow a predictable and gradual appreciation of the nominal exchange rate".


12-12-2014   Newshound Guru Kaperoni   Article:   "Zebari: the dinar exchange rate remains stable"  Quote: "so our priority at this meeting to give a comprehensive picture of the economic and financial reality of Iraq" They are sure making a big deal about currency stability.  Why do you think that is?   Because the IMF demands that they meet the 2% spread for compliance We all know Iraq tries to get things without doing the work.  Does everyone remember Iraq called for removal from UN Chapter 7 for over two years before they actually meet the conditions?  IMO, this is the same thing...the IMF said....your doing good, but your 2.6% and that is not good enough.  And the CBI went..shucks.  Now the hype is starting to try and bend the rules.  Unlikely the IMF will give an inch, I stick with February 28th date...BTW, November 24th the market rate dropped to 1198.  So technically, the countdown could begin then and end February 24th.  To be sure, I am giving it the full month. 

 

12-12-2014   Newshound Guru Kaperoni   Believe me the CBI does what the IMF says. One way or another, they do it...as for 90 days. Here is the fact...the IMF charter clearly states a member country must hold the 2% for 90 daysThis is in Iraq's best interest as the magnitude of failure could be catastrophic if they do not know what they are doing when they go to Article VIII. That being said, I have not found it written in any document "specific" to Iraq that I can prove it. Could there be a special arrangement? Sure...do I think there is?  No.  90 days.

 

12-12-2014   Newshound Guru Stryker   The Arbain ceremony in Karbala has been attended by millions but will end today and the 2015 Budget will be front and center once again in tomorrows Council of Ministers meeting.  Iraqis are not lined up outside banks, they are not celebrating in the streets and the Iraqi TV stations are not scrolling monetary reform is almost completed.The facts are, there are still a few things that need to be done before we see the RV take place.   Also, there is no 60 or 90 day wait period put on the 2% parallel rate before the RV can take place.

 

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Catfight YEAH RIGHT.     They're BOTH wrong. We're still gonna be sitting here March 1.

Hey there, Kap! Long time no see! Has it been so long you thought we forgot this is one of your aliases? Nice butt though. Have you been hitting Curves?

Katie45 IS KAP, so of course you agree with yourself, Kap. lol     I will say this, Buti and I have read the guidelines issued by the IMF via this doc   "Other conventional fixed-peg arrangements

Catfight YEAH RIGHT.

 

 

They're BOTH wrong. We're still gonna be sitting here March 1.

 

I Didn't Know That That U Were A Knicks Fan ? :blink:

 

AmI-XWVCMAEW-ea-480x360.jpg

 

    :D     :D     :D

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Thanks to the clown in the zebra suit!!!   Have you thought about the NFL or NBA Thug??? :lol:

 

If I were to pick between Kap & Stryker, I gotta go with Stryker!!!  I personally think, that Iraq follows it's own rules, not IMF or anyone else.  They do whatever they want, when they want to do it.  They really don't feel pressure, IMHO.  Anyway, like anyone else, when you really start feeling the pain, you will do something about it.  Right now, like our country, the people in charge, don't feel the pain, that we are in, so it isn't as much as a priority, at least until an election.  So, I guess, until the leaders of Iraq, feel the pain, they are going to take their sweet time, to do anything.  JMHO.

 

Great news though for Iraq, is this government is more motivated, than the last one.  THANK GOD!!! :twothumbs:

 

Go RV or RI Soon!!!

:eyebrows:

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So.......who's right?  :shrug:

 

Stryker or Kaperoni.  :eyebrows:

 

 

I vote Stryker.   :soon:    

 

I dont want to wit till Feb.  :rake:

 

MIT :)

 

I am with you... I like Stryker better than Kaperoni.  I also like Millionday and a few others but the one rubs me the wrong way is Dave Schmidt, even TNT Tony doesn't make me mad lol

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Butifldrm explained it really well last night... Thank You Beautiful Dream.... Much Appreciated.

 

 

av-2686.jpg?_r=0 Posted by Butifldrm on Yesterday, 09:22 PM

 

"...yes Iraq was on a three day Holiday so most government institutions are closed.  What we are looking for, is Iraq's ability to comply with IMF regulations which will enable Iraq to pick a new currency regime, whether it be a float managed float, or a peg.  No one knows what Iraq's decision will be, but the IMF suggests a float. http://www.imf.org/external/pubs/ft/scr/2013/cr13217.pdf.  WE do know that Iraq is in compliance at this time with the IMF's guidelines for multi currency practices by holding their market rate at 1197.  They must maintain this rate for at least three months to be eligible to move out of article XIV into article VIII with a new exchange rate regime.  The CBI was able to bring the market rate down to 1197 on November 30th.  So we count down from that date to see if the CBI can maintain the market rate at  2% from the CBI rate of 1166,  for 90 days to stay within IMF compliance.  Once Iraq moves into article VIII, we will know and you will have your answer."
 

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Haven't they been at that rate for more than three months?

 

I was thinking that too... but then I remembered the "CBI" rate and the "Market" rate are two different rates.

 

Not sure... but I believe the "Market Rate" (street rate) has been fluctuating a bit over the past few months.

 

So the IMF is talking about holding the "Market Rate" in their requirements... That is my understanding.

 

Hope that helps. :)

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Well, if reinman says it won't be, then it won't be. I wonder just what HIS time line is or is he just full of negatives and doesn't know what a positive is. He has no time line, only to say that it won't be this year or maybe not even next year. If it doesn't RV, he'll boast that "I told you so" and if it DOES happen you won't hear from him as he'll be at the bank cashing in. He's so phony.  It's all a bragging thing with this guy.  Besides, it is after Ramadan and nothing happen before,during or after Ramadan !!

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14. The de facto fixed exchange rate has served Iraq well. The authorities agreed that a stable nominal exchange rate provides a valuable anchor for inflation expectations in an uncertain environment, and intend to continue implementing this policy for the foreseeable future. In the medium term, staff encouraged the authorities to consider creating the conditions which would make possible a move to a more flexible exchange rate policy. Such flexibility could allow a predictable and gradual appreciation of the nominal exchange rate, triggered by strong oil revenues and the Balassa-Samuelson effect, to accommodate a possible real exchange rate appreciation while keeping domestic inflation low.

http://www.cbi.iq/documents/CBI_FOREIGN_EXCHANGE_AUCTIONS.pdf

For market rates of the IQD

It's been 1198 from November 24th and it's currently 1197

As of today

If kaperoni is correct then they need to keep it below 1120 so two months ish left

I like both gurus

1197 is well within the 2% range

I hope they have not got to keep it up for 90 days however as beautiful dream pointed out the IMF does say 90 days.

Balassa-Samuelson effect does not suggest a lop so the IMF have blown that BS to pieces. Balassa-Samuelson suggests rapid rise

Edited by dinarbeleiver
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Kap is right and Stryker has been sucking on to many paint fumes.

 

Katie45 IS KAP, so of course you agree with yourself, Kap. lol

 

 

I will say this, Buti and I have read the guidelines issued by the IMF via this doc

 

"Other conventional fixed-peg arrangements

The country (formally or de facto) pegs its currency at a fixed rate to
another currency or a basket of the currencies of major trading or financial
partners, weighted to reflect the geographical distribution of trade,
services, or capital flows. The parity is not irrevocable. The exchange
rate may fluctuate within narrow margins of less than ±1 percent around
a central rate, or the maximum and minimum values of the exchange
rate may remain within a narrow margin of 2 percent for at least three
months. The monetary authority stands ready to maintain the fixed par-"
 

 

you can plainly see that the doc states the CBI has to maintain this 2% parity or below for a consecutive of 90 days. 

 

Now, with that said, the documents Kap is using to quote his  information from are several years old. Does that mean that the IMF doesn't currently use this as their point of reference? I don't know for certain, but I will say each country has their own exchange regime agreements, and each are tailored for that country. 

 

This sourced/referenced document, simply is a set of guidelines.

Edited by TBomb
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I hope they have not got to keep it up for 90 days however as beautiful dream pointed out the IMF does say 90 days.  

            

that will take a lot of viagra!

 

(had to)

Edited by moose 57
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Here is a very good quote from Kap;

 

 

Article VIII is very important. And Article VIII is what will make the dinar internationally recognized, convertible and tradable worldwide. The CBI simply cannot transition to Article VIII until they have demonstrated to the IMF that they can comply under the Article VIII guidelines (they have to show the IMF that they can meet the conditions of Article VIII before they will get Article VIII). So the bottom line is, until the CBI can show the IMF that they can follow the rules the IMF will not accept them into Article VIII.
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ReinMan....what ARE you doing in Dinarville anyway?? I've never seen you post a constructive comment to.....well, ANYBODY. Lighten up. Maybe you could rub some positive vibes off on Dontlop too. I'd ask for your "timeline" but I'm afraid I'd need some Prozac with my coffee. Take some deep breaths and smile once in a while. There's probably a reason you live in Hell City, Arizona. Just sayin'................. 

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Kap is right and Stryker has been sucking on to many paint fumes.

Hey there, Kap! Long time no see! Has it been so long you thought we forgot this is one of your aliases? Nice butt though. Have you been hitting Curves?

Edited by Deborah Layne
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Ok so I'm a stupid truck driver , but the CBI has maintained control of the

dinar for ten yrs. So much so that its considered one of the most stable

Currencies on earth. And let's not forget people that dinar was taken from

$3.22 to 4000 to one and nobody asked the IMF A dam thing.

The powers that be will do whatever they want. And if this happens

It will not be something any of us will understand.

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