CBI ~ Iraq inflation continues to remain low ~ No intention to change the exchange rate of the Iraqi dinar

[hablrob]

Well...Lets just say it's mis-information.

(good way to chase us speculators off)

Otherwise, it will be a lame Monday.

July 26, 2010

Iraq inflation continues to remain low

No intention to change the exchange rate of the Iraqi dinar

Dow Jones

Baghdad: Iraq's inflation rate remained at its lowest level in three decades for the second straight month in May due to lower prices for food, non-alcoholic beverages, communications and energy, a senior central bank official said yesterday.

Inflation was unchanged at three per cent in May versus April, and down from 4.7 per cent in May 2009, Mudher Qasim, the central bank's adviser, said in an exclusive interview in Iraq's capital, Baghdad.

Last cut

Qasim said the central bank has no plans to cut interest rates. Iraq's central bank last cut its base interest rate by 100 basis points to six per cent in April.

The bank also has no intention to change the exchange rate of the Iraqi dinar, which has been at 1,170 to the US dollar for more than a year, in the foreseeable future, he added.

http://gulfnews.com/business/economy/iraq-inflation-continues-to-remain-low-1.659345

Edited July 26, 2010 by hablrob

[mattevan]

I'm pumped now.............I can wait to be rich, if not me all my kids will be....AAARRRRHH

[Bacon2782]

No change soon hummm could be bad but I see this a just smoke

[drox]

Not the first article I was hoping to read this early July 26th morning if I can be honest. Not your fault Hablrob... thanks for the article.

[hablrob]

At first I was PO'd at the article.

But, then I thought...this could mean we're real close.

Not the first article I was hoping to read this early July 26th morning if I can be honest. Not your fault Hablrob... thanks for the article.

[legacyman73]

WOW I was hoping to see something on the RV this morning and look what I see instead. Great I hope this is not true. It makes no sense that they would do that! I feel sorry for those people over there..

[kingjaffi]

Smoke smoke and mirrrroooorrrrrsss...in a falsetto!

Stay strong family!

[sparklingblue]

All I can say is UUGGGGHHHHH!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

[keepmwlknfny]

Im smokin a fatty up in here....can all of you see the post through all the smoke? lol if not ill open a window or turn on the fan.....just let me know!!

[mattevan]

Time for the UN to get in there to clean up the smoke...."LIKE NOW!!!!!!!!!!!!!!!"

Edited July 26, 2010 by mattevan

[Motorco]

This is just smoke, first what food do they have and they have no electricity....so of course inflation will be low....this is all just to keep speculators away....for all we know they could RV tomorrow.

[Doc31]

I was in a lousy mood yesterday ... today ... not so much!

You guys ... need another cup of coffee ... lol.

This article just smacks of misdirection. As my Pastor says,"it just won't pass the smell test!"

3% inflation is phenomenal in today's environment

Lowering interest rates is for the Iraqis to start businesses or expand them which stimulates their economy ... and they do need that. Therefore the real reason that they aren't lowering interest rates is for an entirely different reason ... WHY PUT CHEAP MONEY IN THE HANDS OF THE POPULUS JUST PRIOR TO RI/RV?

The last paragraph is such total nonsense ... Shabibi has been calling for the RI/RV for just under a year if I recall ... he's been very vocal in the last 3 months about it. He's the one who made arrangements with GE and Siemens.

I'm not telling you that it will happen today, Aug 4, after Ramadan or whatever ... because I'm not privy to that kind of intel. I'm simply saying that 1) it will and apparently prior to 12/31/2010 2) it looks like it's going to be big 3) you and your children will be wealthy (lol) 4) you can be a blessing to others

"Chin up" folks!

Peace

Doc31

Thanks for the post

Edited July 26, 2010 by Doc31

[Deathmonkey]

Thanks for posting this. I read this story last night, but I couldn't post it. Well I could, but really hard to do so from my iPhone.

While reading it, all I kept picturing is Qasim being interviewed, with a South Park twist. I could hear their version of Saddam's voice saying "Hey nothing to see here guy. We like our country poor and without power. Hey whats that over there!" as he runs away from a reporter.

I think I have issues.

[mariejose]

This is just smoke, first what food do they have and they have no electricity....so of course inflation will be low....this is all just to keep speculators away....for all we know they could RV tomorrow.

[/q

I WAS THINKING THE SAME THING. I DO RCALL CHINA SAYING THEY WERE GOING TO DEPRECIATE THEIR CURRENCY AND THE NEXT DAY THEY REVALUED. DOES ANYONE RECALL AN POST OR ARTICLE SAYING THAT?

[pitboss]

Thanks for the pep talk Doc. And I will have another cup of coffee. Go RV!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

[DCupp]

Hey look at the bright side , If they drag this thing out into 2011 we all get to give good ol Uncle Same a bigger chunk of our money due to the new tax laws taking place........... HEY.........WATE JUST A MINUTE

[Desert Medic]

I request GOOD news for a change...

yeah.. i know, it may never come out good..

but here is hoping!!

GO RV BABY!

[MoraMora]

I can't believe I'm reading this article today of all days...... I hope all of you are right with the whole "smoke screen" theory because if not this really sucks!............ I'm trying to stay positive but I don't like to see this coming out of Iraq! I hope we are close to an RV....