eosirl Posted April 5, 2021 Report Share Posted April 5, 2021 Well this is a very interesting post: " Posted 5 hours ago The currency auction stops for a week as a result of banks ’fear of changing the dollar’s price First off, it's the CBI who decides whether the auctions are a go or not, not the banks. However, it the banks are so fearful, the auctions should still take place showing a zero demand for the dollar. There's always a demand for the dollar esp. in remittance - the purchase of imports into Iraq payable by an international currency the USD. The customer who would demand the USD would give the bank dinar for the currency exchange, the bank in turn would purchase on behalf of the customer the USD from the CBI at the currency auction. The bank itself doesn't take a risk so then why be fearful. Just a very odd and unbelievable headline in my opinion. One thing is sure, the currency auctions can't be functional with a Forex traded dinar. 1 5 2 Quote Link to comment Share on other sites More sharing options...
GreedyDinar07 Posted April 5, 2021 Report Share Posted April 5, 2021 The CBI released an article about a week ago stating that they intend to lower the exchange rate to 1500 and this is a good thing for us but not for the Iraqi people. To my understanding they are doing this to pull in the large notes and they also are trying to encourage the Iraqi people to convert their dinar to dollar. I hope they go ahead and lower the exchange rate to 1500 so they can complete the process of "deleting the 000's from the dinar" by getting the large notes from the Iraqi people. The article above said the banks will start buying dollars again so I can't read a RV from this article. I just don't see them moving fast on this exchange rate. I hope I am wrong. 4 Quote Link to comment Share on other sites More sharing options...
MyLadiesDaddy Posted April 5, 2021 Report Share Posted April 5, 2021 1 hour ago, Donziman said: Economist know that to have a market economy they must have under valued money China is the best example. There under value has allowed them to sell world wide to the extent they now have the second biggest economy in the world.Iraq wants to stop importing everything and stop relying on oil 95% Keynesian economics, go figure blind leading the blind. 1 3 Quote Link to comment Share on other sites More sharing options...
denster Posted April 5, 2021 Report Share Posted April 5, 2021 This is Iraq they have always had a high rate on there money, but as things build up oil is not looked on as the world goes to everything Electric , car , bikes, etc but we use oil in pavement and different things So oil will always be there in use. If they the way Vtnam did the money will go down and never come up, China can user people in there homes to make things and the production of things we use are cheep but we get by with it and so on. 1 1 Quote Link to comment Share on other sites More sharing options...
dinarham Posted April 5, 2021 Report Share Posted April 5, 2021 I would think that our massive debt ,our troubled country ,and the fed printing money like it's going out of style is devaluing the usd all by itself . 1 4 Quote Link to comment Share on other sites More sharing options...
GreedyDinar07 Posted April 5, 2021 Report Share Posted April 5, 2021 I agree with you Denster. As much as I want this dinar to RV I am getting a feeling we are not close. I am not a smoke and mirrors type of guy. Another video said the white paper reform can take 3 to 5 years to be completed so where do the RV falls in that time frame? There are so many things to consider. The exchange rate has been lowered to stop the auctions and they have passed the budget which is a good thing. Now it is all talk and MOU's being signed. You made a good point with China and Vietnam. I believe they will RV but I don't think they are in a hurry to do it. And when did any Central Bank or Government ever give a damn about the people not having money or living in poverty. The rich don't give a damn about the poor and never will unless it benefits them. We have been chasing this dream for 18 years I just hope they don't drag this out. 1 2 1 Quote Link to comment Share on other sites More sharing options...
Wheelman Posted April 5, 2021 Report Share Posted April 5, 2021 3 hours ago, Wheelman said: Master Card International, Ration Cards. They told us they wanted to stop using the USD and use the Dinar on the day the budget was voted on. yota691 199,539 Posted Wednesday at 10:12 AM Parliament transfers the budget from the dollar to the dinar to overcome the dispute Time: 03/31/2021 17:10:06 Read: 13 times {Policy: Al Furat News} The House of Representatives decided in its meeting held today, Wednesday, to convert the federal budget for 2021 from the dollar to the Iraqi dinar. A representative source said {for the Euphrates News} that "it was agreed to transfer the budget from the dollar to the Iraqi dinar, in order not to delay its approval and isolate it from the differences of the rise of the dollar." He pointed out that "a proposal was made to follow up on the issue of the dollar with the central bank and finance in other sessions without marketing the crisis to the budget after it was agreed to transfer the budget from the dollar to the dinar." Wafa Al-Fatlawi 2 2 5 Quote Link to comment Share on other sites More sharing options...
Wheelman Posted April 5, 2021 Report Share Posted April 5, 2021 33 minutes ago, Wheelman said: yota691 199,539 Posted Wednesday at 10:12 AM Parliament transfers the budget from the dollar to the dinar to overcome the dispute Time: 03/31/2021 17:10:06 Read: 13 times {Policy: Al Furat News} The House of Representatives decided in its meeting held today, Wednesday, to convert the federal budget for 2021 from the dollar to the Iraqi dinar. A representative source said {for the Euphrates News} that "it was agreed to transfer the budget from the dollar to the Iraqi dinar, in order not to delay its approval and isolate it from the differences of the rise of the dollar." He pointed out that "a proposal was made to follow up on the issue of the dollar with the central bank and finance in other sessions without marketing the crisis to the budget after it was agreed to transfer the budget from the dollar to the dinar." Wafa Al-Fatlawi Either they build stronger wheelbarrows to carry they dinars, or give the Iraqi citizens purchasing power on the dinar! Shabibi stated gradual, spontaneous, no fanfare! 1 3 3 Quote Link to comment Share on other sites More sharing options...
horsesoldier Posted April 5, 2021 Report Share Posted April 5, 2021 3 minutes ago, Wheelman said: Either they build stronger wheelbarrows to carry they dinars, or give the Iraqi citizens purchasing power on the dinar! Shabibi stated gradual, spontaneous, no fanfare! Wouldn’t surprise me if they built stronger wheelbarrows....hoping we’re close to the finish line. 6 1 Quote Link to comment Share on other sites More sharing options...
GreedyDinar07 Posted April 5, 2021 Report Share Posted April 5, 2021 The CBI says one thing and the GOI says another. Hell, I am confused! I don't know what is going to happen...gessh! 5 Quote Link to comment Share on other sites More sharing options...
Spartakus Posted April 5, 2021 Report Share Posted April 5, 2021 I thought that their budget was always in trillion of dinars. What does it mean from dollars to dinars then? They sell their oil in US dollars and exchange them to dinars for business inside Iraq. Quote Link to comment Share on other sites More sharing options...
denster Posted April 5, 2021 Report Share Posted April 5, 2021 This is Iraq they have always had a high rate on there money, but as things build up oil is not looked on as the world goes to everything Electric , car , bikes, etc but we use oil in pavement and different things So oil will always be there in use. If they the way Vtnam did the money will go down and never come up, China can user people in there homes to make things and the production of things we use are cheep but we get by with it and so on. Just my opinion when they go from dollars to Dinars then that's when they need buying power They don't have China's money But they have oil , so do we , we have Reserve oil lots of it so what makes there oil better is the price so if they keep it lower they have buyers higher only buyers with big money , so just a little bugged by this. 1 1 Quote Link to comment Share on other sites More sharing options...
dinarham Posted April 5, 2021 Report Share Posted April 5, 2021 Iraq is sixth largest oil producer in the world ,behind the US ,China ,Russia ,Saudi Arabia , Much of it is sweet crude and easy to access ,bubbling out of the ground . Then there's the natural gas , biggest Sulfur supply in the world , and don't forget the GOLD. All this wealth is shared by a mere 40,000,000 people . Many huge international businesses have set up shop in Iraq . No worries ,you crazy diamonds. 1 3 3 Quote Link to comment Share on other sites More sharing options...
Rochester Posted April 6, 2021 Report Share Posted April 6, 2021 8 hours ago, Dog eat dog said: Yet another fiscal period with NO RV or RI. Maybe next year. But I doubt it. @Dog eat dog, your comment and the negative reaction it got, reminded me of something "Norm" from "Cheers" once said: Quote Link to comment Share on other sites More sharing options...
3n1 Posted April 6, 2021 Report Share Posted April 6, 2021 3 hours ago, Wheelman said: Shabibi stated gradual, spontaneous, no fanfare! exactly ... the rate will be different one day ( positive ) iraq will continue and speculators / investors / business will too .... anticipation 1 2 Quote Link to comment Share on other sites More sharing options...
screwball Posted April 6, 2021 Report Share Posted April 6, 2021 4 hours ago, Wheelman said: yota691 199,539 Posted Wednesday at 10:12 AM Parliament transfers the budget from the dollar to the dinar to overcome the dispute Time: 03/31/2021 17:10:06 Read: 13 times {Policy: Al Furat News} The House of Representatives decided in its meeting held today, Wednesday, to convert the federal budget for 2021 from the dollar to the Iraqi dinar. A representative source said {for the Euphrates News} that "it was agreed to transfer the budget from the dollar to the Iraqi dinar, in order not to delay its approval and isolate it from the differences of the rise of the dollar." He pointed out that "a proposal was made to follow up on the issue of the dollar with the central bank and finance in other sessions without marketing the crisis to the budget after it was agreed to transfer the budget from the dollar to the dinar." Wafa Al-Fatlawi great news now rate change.....if budget is now in dinar rate must chnage, 2 3 3 Quote Link to comment Share on other sites More sharing options...
3 bucks new rv rate Posted April 6, 2021 Report Share Posted April 6, 2021 10 hours ago, GreedyDinar07 said: The CBI says one thing and the GOI says another. Hell, I am confused! I don't know what is going to happen...gessh! conflicting articles are what they like to do to make dinar speculators confused and give up their dinars. Quote Link to comment Share on other sites More sharing options...
3 bucks new rv rate Posted April 6, 2021 Report Share Posted April 6, 2021 10 hours ago, Spartakus said: They sell their oil in US dollars and exchange them to dinars for business inside Iraq. you might be right. Quote Link to comment Share on other sites More sharing options...
rvmydinar Posted April 6, 2021 Report Share Posted April 6, 2021 8 hours ago, screwball said: if budget is now in dinar rate must change, Yep, a rate change is what we hope for. 1 1 Quote Link to comment Share on other sites More sharing options...
screwball Posted April 6, 2021 Report Share Posted April 6, 2021 20 minutes ago, rvmydinar said: Yep, a rate change is what we hope for. Hopefully in the next three weeks 1 Quote Link to comment Share on other sites More sharing options...
rvmydinar Posted April 6, 2021 Report Share Posted April 6, 2021 46 minutes ago, screwball said: Hopefully in the next three weeks Hopefully, it really comes true. 1 Quote Link to comment Share on other sites More sharing options...
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