IMF cannot force the RV

[Soldier]

And the guru's lose another one. There running out of lies to portray.

[drox]

From what I understand, the IMF cannot force them to change to a particular rate but they can certainly box them into a corner with a number or a rate range they think is adequate for Iraq as well as for the trading nations that are all a part of the IMF. They discourage unfair advantages and promote fairness so the world economy can have some parameters for fair dealings. They do tons of research and make recommendations. As a member of the IMF, Iraq must listen to them. Especially when borrowing money for deficit loans. Also... when Iraq becomes wealthy again they will want to purchase SDR's to add to their basket of currency reserves. Ignoring the IMF is a losing battle for the CBI any way you slice it.

[RVDinar4MyFamily]

Again, you are incorrect. The sanctions that were placed were from the IMF ( a division of the UN). THEY did in fact devalue the dinar to damn near worthless. Just like they did with kuwait. At a later date, they threw it into a Program rate to control inflation. It would take me forever to post all the articles, but go to IMF website and read everything pertaining to it. IT will take you hours, but will get you up to speed. It looks to me like you are speaking off of hear-say instead of facts. Please go to IMF site and do some research. And they very much can increase the value of a currency. Especially since they are still in Ch7.

Wrong, again it was not the IMF, I have posted the facts behind this, if you can post the facts behind your statement, then do so.

Read the economic study I posted and you will see why the dinar lost its value page 2

http://www.bos.frb.org/economic/ppdp/2004/ppdp0401.pdf

The Iraqi government responded to

the international sanctions by printing money to finance its operations, stoking inflation

and debasing the currency.

[aliveandcare]

Wrong, again it was not the IMF, I have posted the facts behind this, if you can post the facts behind your statement, then do so.

Read the economic study I posted and you will see why the dinar lost its value page 2

http://www.bos.frb.org/economic/ppdp/2004/ppdp0401.pdf

The Iraqi government responded to

the international sanctions by printing money to finance its operations, stoking inflation

and debasing the currency.

Based on that article you posted.... I stand corrected. Thank you. I will obviously do more research on my end. But what you posted does make a lot of sense.

Wrong, again it was not the IMF, I have posted the facts behind this, if you can post the facts behind your statement, then do so.

Read the economic study I posted and you will see why the dinar lost its value page 2

http://www.bos.frb.org/economic/ppdp/2004/ppdp0401.pdf

The Iraqi government responded to

the international sanctions by printing money to finance its operations, stoking inflation

and debasing the currency.

Based on that article you posted.... I stand corrected. Thank you. I will obviously do more research on my end. But what you posted does make a lot of sense.

[RVDinar4MyFamily]

From what I understand, the IMF cannot force them to change to a particular rate but they can certainly box them into a corner with a number or a rate range they think is adequate for Iraq as well as for the trading nations that are all a part of the IMF. They discourage unfair advantages and promote fairness so the world economy can have some parameters for fair dealings. They do tons of research and make recommendations. As a member of the IMF, Iraq must listen to them. Especially when borrowing money for deficit loans. Also... when Iraq becomes wealthy again they will want to purchase SDR's to add to their basket of currency reserves. Ignoring the IMF is a losing battle for the CBI any way you slice it.

Very well put Drox, and I agree with you to a extent, but the point of the thread does still stand in that the IMF cannot force, or Revalue themselves, but they can very well push Iraq to do what they want, but that does not mean Iraq will do what the IMF wants them to nor when the IMF wants them to do it.

Based on that article you posted.... I stand corrected. Thank you. I will obviously do more research on my end. But what you posted does make a lot of sense.

Glad I was able to help you understand, we are on the same page with some of what the IMF is doing. You are very much correct that the IMF took a big part in Iraq's monitary policy, and still has alot of influance over the same policies, I do not dispute that the IMF has a large role in this, only that they can not force the RV themselves, it will be a joint agreement between Iraq and the IMF

[jack]

Your calling me stupid? Really?

UN sanctions (chapter 7) are not Enforced by the IMF, the sanctions were enforced by the UNSC and the IMF has nothing to do with it. You need to do your research.

here is the IMF website and tells all about what they do http://www.imf.org/external/about.htm

No but you are proving yourself to be stupid.

This is right from the IMF :

"The IMF and the World Bank are institutions in the United Nations system. They share the same goal of raising living standards in their member countries. Their approaches to this goal are complementary, with the IMF focusing on macroeconomic issues and the World Bank concentrating on long-term economic development and poverty reduction."

http://www.imf.org/external/np/exr/facts/imfwb.htm

[RVDinar4MyFamily]

No but you are proving yourself to be stupid.

This is right from the IMF :

"The IMF and the World Bank are institutions in the United Nations system. They share the same goal of raising living standards in their member countries. Their approaches to this goal are complementary, with the IMF focusing on macroeconomic issues and the World Bank concentrating on long-term economic development and poverty reduction."

http://www.imf.org/external/np/exr/facts/imfwb.htm

Really Jack? where in that statement does it say that the IMF enforced the UN santions as was your arguement above? Or, where in this statment does it say that the IMF has the power to force Iraq to revalue its currency as was the subject of this thread? You say I am proving myself to be stupid, but your arguments are weak to prove your point. I am the first to say when I am wrong, and I have shown that on many occasions, but calling me stupid, and providing little in the way of backing up your claims is doing nothing but showing your own immaturity in this matter. If you can prove what I am stating is wrong, then do so. I have myself provided the facts behind my research and I stand by it.

[SaRSam]

Look I haven't commented even once on this whole IMF will force them to blah blah blah. Its just as bad as okie, and terry tard, and everyone else. If you do even the smallest amount of REAL research then you will without a doubt find that the IMF has nothing to do with the revaluing of ANY currency for ANY country. NO ONE can force it!!! Again NO ONE!!!!! Stop sharing short bus information please, and thank you. RV please...

[jack]

Really Jack? where in that statement does it say that the IMF enforced the UN santions as was your arguement above? Or, where in this statment does it say that the IMF has the power to force Iraq to revalue its currency as was the subject of this thread? You say I am proving myself to be stupid, but your arguments are weak to prove your point. I am the first to say when I am wrong, and I have shown that on many occasions, but calling me stupid, and providing little in the way of backing up your claims is doing nothing but showing your own immaturity in this matter. If you can prove what I am stating is wrong, then do so. I have myself provided the facts behind my research and I stand by it.

lol!

Prove that you are right!

So the UNSC sets economic sanctions upon a nation as in Chapter 7 sanctions then who is it pray tell that enforces this if it is not the IMF and World Bank? (Both are UN sections)

Waiting for your weak answer Jack Wagon.

Edited January 9, 2011 by jack

[tryinmybest22]

OK guys. I have never stated I have any intel, or facts, nothing but what I know, researched, or learned from all you guys,..BUT..The IMF CANNOT force any country to RV anywhere at ANYTIME, this is a fact. Yes they play a huge role in all of this, and have a huge persuasion on things happening. Iraq has 100% control of the rate(which is overseen by several entities) but IMF can not and will not force an RV. I don't think we should get upset, and name call, and bash each other! This is how we learn, we challenge each others info, we supply links and facts, and we educate each other. We are all in this together, and the ultimate goal of us all should be the RV of course, but to be educated, and aware of as much as possible. This way when facts do appear, or we hear reliable info, we all have more power to analyze and take something good from it together! We have to remember, the more we know collectively, the more informed we are, the better the chances are of us being prepared for an RV! I play professional golf for a living, and every single bit of info I have ever heard, learned, observed, or even speculated on, plays a part in every single round of golf I play. And sometimes, it all comes together at the right times, all translated perfectly, and all are applied with precision,...and BAM! It happens!.........So, let's get there guys!! GO RV!!

[Scooter]

DV_TEAM,

This was a GREAT POST and I'm glad this was brought up as it's somewhat confusing, particularly after today's announcement by the IMF. There's two pieces of data that need to be reviewed and I'll let you make your own assessment:

IMF Article IV -- Articles of Agreement -

Article IV LINK

Before making your assessments, please review the obligations by each member state. In order to be engaged with the IMF, each member must agree to the Articles of Agreement and they are very specific about each member states obligations and responsibilities. With that said, the IMF can't force any member to modify their exchange rate but they could remove their membership which would lock out any member from significant participation in the world economy. In essence, they wouldn't be able to export product on the same playground as the rest of the world.

----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

SECOND ITEM -- THIS ONE IS NOT COMFORTING

ARTICLE FROM Dar Al Hayat -- 1/9/2011 AT 5:33 AM MST

AUTHOR - CONSCIOUS

BOARD OF EXECUTIVE DIRECTORS AT THE IMF ADVISED TO RAISE THE PRICES OF EXCHANGE AND THE INCREASE IN FOREIGN RESERVES

--

LINK TO ARTICLE

______________________________________________________________________________________________________________________

BEST REGARDS,

SCOOTER

[snowglobe4]

wow...my head hurts...lol

great job....wow.....thanks ill read again later

[aliveandcare]

NOBODY can make Iraq revalue its money.............they will just b back where they where b4............remember... internal/external value...........their currency will go back to being "not internationaly recognized".

If you truly believe that, then why are you here? We are trying to get rid of people with posts like that.

[aliveandcare]

Trying to get rid of people like ME?????? If U believe that ANYBODY can make iraq revalue you are a fool..........Really........I invested b/c i believe they want to be internationally recognized........cant be recognized with a currency worth crap AKA...North Korea.........It's not like i stated that the rv is gonna happen tomorrow at 430 pst!!!!!!!!! Get a clue.........

Besides.........that was a fact, not an opinion.........the only thing the world can do is put "pressure" on them..........sanctions, etc...........

Your last statement implied that you believe nothing will happen and they will go back to non recognized currency.

[aliveandcare]

The statements i made are FACTS.............THIS is an investment and u must always keep the big picture in perspective.......YES, i would like them to RV, but i also know that it COULD go back to the way it was.......Just trying to remind those who still believe the IMF, or the world for that fact,........that NOBODY can make them RV...............Isnt that what the thread is about" IMF cannot force the RV" Just agreeing......gotta keep ur feet on the ground, man...

When I first posted on this thread, I thought that IMF could in fact RV the currency for them. After reviewing the article that was posted in rebuttal to my statement. After reading that, I see that they cannot RV for for Iraq. They can however put them into a corner and intimidate them to doing what they think is best.

Now, you state that what you post is FACT. Post a link to prove that the dinar will go back to being a non recognizable currency in the international market. After all, you did say it. And what you say is fact, right?

[Ha Ha Ha]

They never run out, they just recycle them.

And the guru's lose another one. There running out of lies to portray.

[RVDinar4MyFamily]

lol!

Prove that you are right!

So the UNSC sets economic sanctions upon a nation as in Chapter 7 sanctions then who is it pray tell that enforces this if it is not the IMF and World Bank? (Both are UN sections)

Waiting for your weak answer Jack Wagon.

I have already proven what I have stated, and proven you were wrong in your origianl statement that the IMF can force Iraq to RV, I have also already proven with facts that it was not the IMF that devalued the IQD, which was your next arguement, now you would like to go on to another subject of who is responsible for enforcing the sanctions after they have been put in place? OK, yes, you are correct, the UNSC, THE IMF, and THE WORLD BANK all have a part in enforcing sanctions against a country, but what is your point? This still has nothing to do with the original point of this thread. You can call me names all day long, I am to old to care. I hope that is a weak enough answer for you. If not I can try smaller words and shorter sentances for you next time, because I don't think you are comprehending what is being put in front of you.

[GrahamB]

This is correct, but has nothing to do with this discussion. The point I was making was that it was not the IMF who devalued the currency, it was the sanctions that led to the currency losing value. The IMF program rate was set up at a much later date to maintain stability if the dinar, but still does not give them the power to force Iraq to RV.

Sorry, RVDinar4MyFamily, but although you are correct in you later comments you are incorrect in agreeing with 'aliveandcare' regarding the IMF setting the rate of 1170.

The quote from the IMF link is under Definitions and says:

II. DEFINITIONS

3. For purposes of monitoring under the program, a program exchange rate will be

used. This program exchange rate will be set at ID 1,170 per U.S. dollar. The program

exchange rate will be used to convert into Iraqi dinars the U.S. dollar value of all CBI foreign

assets and liabilities denominated in U.S. dollars, as required. For CBI assets and liabilities

denominated in SDRs and in foreign currencies other than the U.S. dollar, they will be

converted in U.S. dollars at their respective SDR-exchange rates prevailing as of

December 31, 2009, as published on the IMF’s website

This is not saying the IMF set that value. It is simply saying that 'for the purposes of monitoring' it (the IMF) will use an exchange rate, and that the value it 9the IMF) has chosen to monitor the program against is ID 1,1170 per USD.

Big Difference!

[RVDinar4MyFamily]

Sorry, RVDinar4MyFamily, but although you are correct in you later comments you are incorrect in agreeing with 'aliveandcare' regarding the IMF setting the rate of 1170.

The quote from the IMF link is under Definitions and says:

This is not saying the IMF set that value. It is simply saying that 'for the purposes of monitoring' it (the IMF) will use an exchange rate, and that the value it 9the IMF) has chosen to monitor the program against is ID 1,1170 per USD.

Big Difference!

Good point Graham, thank you for clarifing