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Parliamentary Finance: the formation of a committee to raise the exchange rate of the dinar against the dollar


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1 hour ago, pontiyak said:

Iraq does not have the reserves to RV to $3.20. It's not going to happen.

Iraq could easily RV to .10 cents to start and then increase gradually.

They could also RV to $1.10 but would need to restrict how much you could convert over a period of time.

Think of it this way.... if a basic Iraqi family has 1 million dinars stuffed under the mattress and the Dinar RV'd to

$3.20, that family would now be worth 3.2 million dollars.

It isn't going to happen. It's to destabilizing to the economy and Iraq can't foot the bill.

Now bear with me as I give you all a Yak hug....

I believe the Dinar is worth at least $2.00 and if Iraq stabilizes it could close in on $3.00.

But that is going to take time. Yup...more time.

Iraq reportedly has more oil than Saudi Arabia and look at the price of the Saudi currency.

Iraq is going to be a major player in the region and the value of their currency will reflect that. In time.

If Iraq does small RV's or goes to the Forex at some point, which I don't see happening just yet, we will do pretty good.

If they do an RD then we wasted a lot of time for a very small return.

This is turning into a very long term investment and I'm frustrated too.

But common cents seems to be a rarity these days.

 

The best things in life RV

 

yak

 

Seriously how long you been invested....pay attention to former oil minister under Saddam Hussein and current oil minister...because they have over 350 billion barrels....just google and you will find..which will put them at number one for oil and gas!

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8 hours ago, navira said:

This right here suggests either increase the rate or let it float and let the market decides:

He added, "The Committee will work in the future to raise the price of the dinar against the dollar and give it strength among other currencies in the Arab world,or at least maintain the current exchange rate to have a monetary power within the local market

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Yep...it’s coming baby! 

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This is an interesting post. It reminds me of an analogy I read on this site years ago...

 

"Where there's smoke there's fire..."

 

I personally believe that committees have already been formed and that conclusions have already been reached on this subject and that that there are other reasons as to why this aticle is being published and released now. 

 

On a semi-related note, can anyone confirm for me that it was the IMF that was untimately responsible for the devalueation and replacement of the Sadam notes in 2003? I am pretty sure I read something on it in Adam's cash-in guide 9 years ago....

 

As another saying goes:

 

"what goes up must come down"...

which leads to...

"what goes down must come up"...

 

Go RV!!!

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11 hours ago, navira said:

This right here suggests either increase the rate or let it float and let the market decides:

He added, "The Committee will work in the future to raise the price of the dinar against the dollar and give it strength among other currencies in the Arab world,or at least maintain the current exchange rate to have a monetary power within the local market

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Looks like they try to cover all their bases.  Raise the price of dinar against the dollar or maintain the current exchange rate.  Yup either raise or keep it the same. At least they didn't add drop in value.  

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Reality is that the people in power in Iraq are living high on the hog with accumulated U$D, obtained legally or not over the years. What's the incentive for them of the Iraq Dinar revaluation when the U$D is King.  Go figure. They are in privileged positions with endless opportunities. All international transactions are done in USD. The common folks will have to fend  for themselves. My take.  

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11 hours ago, newbieDA said:

Even though it is interesting, it means nothing. A committee made a committee. My :twocents:.

 

A sub committee would be able to give more focus on their task.

 

I (too) think they already have a working team, working on this.

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  • yota691 changed the title to Parliamentary Finance: the formation of a committee to raise the exchange rate of the dinar against the dollar
8 hours ago, Engine1 said:

Looks like they try to cover all their bases.  Raise the price of dinar against the dollar or maintain the current exchange rate.  Yup either raise or keep it the same. At least they didn't add drop in value.  

Yep, either raise the rate or do a lop. lol. So informative. 

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14 hours ago, Laid Back said:

- Foreign currency reserves $72 billion dollars and growing 

- Gold reserves 96.5 Tons and growing 

- Oil production growing 

- Oil exports growing 

- Inflation +/-2%

 

I believe they will raise the value of the IQD 

 

Go CBI

Go RV

Go $1:1

 

 

They have "maintained" for 15 years so they don't need a committee to do that...lets hope we see a change in October.

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16 hours ago, Floridian said:

 

Yeah, but when, when?  😁

Thanks for your input Floridian, 

My window of opportunity for an RV continues to be the same Last quarter 2019

First quarter 2020.

16 hours ago, Stabstones said:

3.20.. Back to old value 

Stabstones, I’m a believer of $1:1 but if we get $3.20 it will be fantastic.

 

16 hours ago, wc41 said:

 

Exactly, RI instead of RV 😉

wc41, I like your enthusiasm 👍🏼

 

Go RV

Go $1:1

Go asap

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23 hours ago, jg1 said:

I heard the rate will not just be calculated by reserves but also their total resources also. 

jg1: There has been talk on many forums that a countries currency should or could be valued on it's provable resources, it's gold holdings, it's trade balance, and a few other factors. It sounds good in principle, but the implementation might be problematic. The value of some countries currency might actually go down.

 

The best things in life RV

 

yak

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8 hours ago, Laid Back said:

Thanks for your input Floridian, 

My window of opportunity for an RV continues to be the same Last quarter 2019

First quarter 2020.

Stabstones, I’m a believer of $1:1 but if we get $3.20 it will be fantastic.

 

wc41, I like your enthusiasm 👍🏼

 

Go RV

Go $1:1

Go asap

LB.. since 15 year ago.. I'm still stick with 1:1.. and still hold on it..😁

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