Why Iraq cannot afford a stronger dinar

[aquafuzz]

Interesting article, a must read. 
 

https://amwaj.media/article/devaluation-dinar-iraq-political-elites

[yota691]

Mar. 11, 2022

Why Iraq cannot afford a stronger dinar

Iraq/EconomyLahib Higel

 

Women in Sadriyah Market in Baghdad, Iraq on Sept. 10, 2021. (Photo via Getty Images)

While Iraq’s political elites remain in deadlock over government formation, the value of the Iraqi dinar has reemerged as a source of contention over which to score populist points. To this end, the parliament—upon the initiative of Deputy Speaker Hakem Al-Zameli of the Sadrist Movement—hosted Finance Minister Ali Allawi on Feb. 28 to address the exchange rate and the impacts of inflation on ordinary Iraqis. The federal supreme court will on March 14 also host Allawi and the governor of the Central Bank of Iraq (CBI) based on a lawsuit that demands the strengthening of the dinar.

The CBI devalued the national currency in Dec. 2020 amid a severe drop in global crude prices, which threatened economic collapse given Iraq’s heavy dependence on oil export revenues. The devaluation was highly unpopular as it resulted in an immediate increase in prices of imported goods...

[ronscarpa]

2 hours ago, aquafuzz said:

Interesting article, a must read. 

 

Thanks for the post aquafuzz...! Be blessed - RON 

Edited March 24, 2022 by ronscarpa

[Half Crazy Runner]

Why Iraq cannot afford a stronger dinar

 

Well, I read this article 3 times and I didn’t see where they answered the question “why”….

[Shelley]

4 hours ago, Half Crazy Runner said:

 

Why Iraq cannot afford a stronger dinar

 

Well, I read this article 3 times and I didn’t see where they answered the question “why”….

I thought it was just me not getting it 

whew , nice to know I haven’t lost my mind 

[screwball]

if you believe this you will believe anything

[Donziman]

The real reason this low value is placed on the dinar is because the politicians have over time manipulated their money into dollars. This is where THEY want the value to be held. NOT DINARS>>>

[presence]

What goes down will go up - and it feels like a perfect time for a rate change. 

[Stelardoc]

Thanks for bringing over the article Aqua fuzz,

There appears so far to be a consensus that, WE (DV) and/or (Iraqi citizens) can't understand the "why" Iraq cannot afford a stronger dinar" 

because the stank and odor of these articles is stronger than the "why" combined with the endless political bickering that overrides reason or logic.

The "why not's (for the people) out numbers the "why" they can't

We can gaze at the  (why they can't)..just don't step in it or smell it.

There is "smoke" coming off the BS stank and "mirrors" of Politicians stroking their egos

instead of helping the people.

Saturday better leave your egos and greed at the door

It's coming down to the wire and that wire has a short fuse that is ready to get lit up big time!

 

[NMP2017]

17 hours ago, Half Crazy Runner said:

Why Iraq cannot afford a stronger dinar

 

Well, I read this article 3 times and I didn’t see where they answered the question “why”….

Thanks HCR! Glad to know I didn't miss anything by not signing up to read it! :)

[Retiredofficer]

10 hours ago, Stelardoc said:

Thanks for bringing over the article Aqua fuzz,

There appears so far to be a consensus that, WE (DV) and/or (Iraqi citizens) can't understand the "why" Iraq cannot afford a stronger dinar" 

because the stank and odor of these articles is stronger than the "why" combined with the endless political bickering that overrides reason or logic.

The "why not's (for the people) out numbers the "why" they can't

We can gaze at the  (why they can't)..just don't step in it or smell it.

There is "smoke" coming off the BS stank and "mirrors" of Politicians stroking their egos

instead of helping the people.

Saturday better leave your egos and greed at the door

It's coming down to the wire and that wire has a short fuse that is ready to get lit up big time!

 

Agree.  They’re the  minor league champions of “Smoke & Cracked Mirrors.” 

[Laid Back]

If they cannot afford a stronger dinar, how are they going to move to an open market economy with a exchange rate of 1460 IQD per $1

 

Just look at the exchange rate of the countries that surrounds Iraq 

Go Iraq 

Go open market economy 

Go stronger dinar $1+

 

[Stelardoc]

4 hours ago, Retiredofficer said:

Agree.  They’re the  minor league champions of “Smoke & Cracked Mirrors.” 

Maybe it would esplain their (ILL Logic) if they are Smoking" Crack

then stroking their egos or "whatever" (minor leagues)😜 in the "Mirrors"

You can't fix stupid.. Ron White et. al.

 

[Engine1]

3 hours ago, Laid Back said:

If they cannot afford a stronger dinar, how are they going to move to an open market economy with a exchange rate of 1460 IQD per $1

 

Just look at the exchange rate of the countries that surrounds Iraq 

Go Iraq 

Go open market economy 

Go stronger dinar $1+

 

• 1 – Iranian Rial (~266,500 IRR/USD)
• #2 – Vietnamese Dong (22,689 VND/USD)
• #3 – Indonesian Rupiah (14,380 IDR/USD)
• #4 – Sierra Leonean Leone (11,357 SLL/USD)
• #5 – Lao or Laotian Kip (11,348 LAK/USD)
• #6 – Uzbek Sum (10,850 UZS/USD)
• #7 – Guinean Franc (9,078 GNF/USD)

[screwball]

7 hours ago, Stelardoc said:

Maybe it would esplain their (ILL Logic) if they are Smoking" Crack

then stroking their egos or "whatever" (minor leagues)😜 in the "Mirrors"

You can't fix stupid.. Ron White et. al.

 

 

6 hours ago, Engine1 said:

• 1 – Iranian Rial (~266,500 IRR/USD)
• #2 – Vietnamese Dong (22,689 VND/USD)
• #3 – Indonesian Rupiah (14,380 IDR/USD)
• #4 – Sierra Leonean Leone (11,357 SLL/USD)
• #5 – Lao or Laotian Kip (11,348 LAK/USD)
• #6 – Uzbek Sum (10,850 UZS/USD)
• #7 – Guinean Franc (9,078 GNF/USD)

none of those countries had an exchnage rate of between 3.22 and 2.50...no of these countries have as miuch oil and gas, and gold? also you failed to mention oil rich countries and those not in the middle of a war!

[Engine1]

9 hours ago, screwball said:

 

none of those countries had an exchnage rate of between 3.22 and 2.50...no of these countries have as miuch oil and gas, and gold? also you failed to mention oil rich countries and those not in the middle of a 

 

 

 If they cannot afford a stronger dinar, how are they going to move to an open market economy with a exchange rate of 1460 IQD per $.

 

I didnt fail to mention anything I was just showing Laidback that there are other currencies than dont have much value compared to US dollar.  So why couldnt Iraq leave it where it is and deal in Dollars too? I wish people would quit comparing Iraq to other countries.  Iraq has oil yup they do. They have nothing else going on for them, just oil, no decent government, the government they do have is a bunch of crooks oh yeah no tourism, oops Erbil is a tourist location. I spent 3 years in Iraq and traveled around Kuwait and UAE spent some time in Saudi Arabia. Iraq is a country with nothing but oil. 

So my point is that they can stay right where they are and still deal in Dollars. Would you RV knowing you have 1 million out there at .00083 dollars per dinar just to shell out a ton of your money as soon as it RV's let's say at $1 ????  So you sold it at 830 per now you are paying 1,000,000 per million. Hmmmmm now multiply that by all of the people who bought from you.  It doesn't sound profitable for the person who sold it to the person cashing in. Kind of sounds like a major loss.  

[md11fr8dawg]

Engine 1 has a point. I have brought this up before, anyone check the exchange rate of the Korean Won. It was about 500 won to the $$ when I was over at Kansas by the Sea in 1976. Today (I believe) it hovers around 1200 won/1 USD. That's a lot of years with very little increase in value, most decreased/devalued.

[rvmydinar]

It depends on what currency you hold. From 500 Won/ USD to 1,200 Won/ USD, it is called devaluation/ decrease when someone exchange Won for Dollars. However, if someone trade Dollars for Won, then it increase almost double. From 1976 until today 2022, that has been almost 46 years. Hopefully, someone won't definitely  compare between IQD and a korean Won at all. Both of them are totally different.

 

[Engine1]

3 hours ago, rvmydinar said:

It depends on what currency you hold. From 500 Won/ USD to 1,200 Won/ USD, it is called devaluation/ decrease when someone exchange Won for Dollars. However, if someone trade Dollars for Won, then it increase almost double. From 1976 until today 2022, that has been almost 46 years. Hopefully, someone won't definitely  compare between IQD and a korean Won at all. Both of them are totally different.

 

When I bought my dinar, I paid 620 bucks for a million, so I guess you could say I made some money on what i called beer money. Beer money because while in Iraq i am sure i saved that amount not drinking 

[rvmydinar]

Beer money isn't a bad , however , if it rv between 10 cents to a buck, that is even better.

[screwball]

5 hours ago, rvmydinar said:

Beer money isn't a bad , however , if it rv between 10 cents to a buck, that is even better.

160 million shares .10cents is a winner for me!

[rvmydinar]

Yup. We can only hope that rv comes in this year 2022.

[Engine1]

1 hour ago, rvmydinar said:

Yup. We can only hope that rv comes in this year 2022.

Yup,,,,,,,,,, just like every year before this one.   

[Jaygo]

2 hours ago, Engine1 said:

Yup,,,,,,,,,, just like every year before this one.   

🤦🏻

[Engine1]

35 minutes ago, Jaygo said:

🤦🏻

🤦‍♂️