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Friday Noontime Guru Opinions @ 12:50 PM EST - 3/13/2020


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3-13-2020   Intel/Newshound Guru sandyf   ...I read the IMF publications...The IMF started a concerted effort in the mid 90's to get countries into Art 8, but to date Iraq and about 16 others have resisted the pressure. If Iraq wanted to be in Art 8, it could do so very quickly. At the end of the day the so called auctions are related to Iraqi revenue and as long as the revenue is foreign currency based the auctions will remain Floating the currency is always an option to any country, when the currency is in trouble it is often seen as preferable to multiple devaluations. Iraq is being pushed along the same road as Egypt and that currency lost 50% of it's value overnight.

 



3-13-2020   Newshound Guru Pimpy   [Q? Is this right Is there an article out there saying that we finally have Iraq heading towards a floating rate This can't be?  When I found out about this I almost lost my poop... Article:  "Former Minister:  Iraqi Dinar On The Way To "Float"]. ...we want the Iraqi dinar to float.  Yes we do This article says for the purpose of reducing its value.  That's not the case.  Quote:   "The former minister, Jabbar, confirmed today, Wednesday, that the Iraqi dinar is on the way to floating..."..this is good news believe it or not.  I'm not talking about how the dinar is gonna lower in rate..(Post 1 of 2)..

3-13-2020   Newshound Guru Pimpy    ...right now the dinar is pegged.  That's a fixed exchange rate against the U.S. dollar...if it floats then what determines its value is gonna be based on supply and demand and market...this is good.  As Iraq gets their crap together and the better they do the more valuable the currency becomes...we want this.  We've been saying this for a long time.  We need them to unpeg from the U.S. dollar which is a fixed exchange rate.  Which is manipulated by the government and we want them to go into a floating exchange rate...just like that it can jump up in value...if we get this you'd be surprised what will happen to the dinar once the government is established.  Once they're stable and there's no more protesting the dinar would just keep going up and up...(Post 2 of 2)..

 



3-13-2020   Newshound Guru Kaperoni   Can I tool [toot ?] my own horn?  Ok here you go...Article:  "Former minister: Iraqi dinar on the way to "float"  Quote:  "the Iraqi dinar is on its way to float (i.e. reduce its value), and the Iraqi government may have to increase the exchange rate of the dollar to 1250 dinars against the dollar in order to obtain additional funds estimated at 4 trillion dinars in the budget and this matter is positive because it will allow encouraging the national industry because it will raise the value Imported goods and makes domestic competitive."  Maybe some of you will study monetary policy now... I do agree that under the current conditions it will probably devalue the dinar. That is why I have stated numerous times that is important that they create the conditions to launch a market economy first.  If Iraq wants to succeed at raising the value they need to create a market economy, have a gov in place, cabinet and pass laws that investors will come and participate.

 

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