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IMF suggests Stable Iraqi Dinar


perkey1995
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Its over guys!!!that said it all.it will be yrs befor they even think of rv the dinar..o well o knew it was to good to be true.life goes on .u cant trust them people over thear.thay hate the usa.allways have.allways will.so let them keep killing each other ..

Looks as if you've only been in this for a short while. You seem to be ready to toss in the towel over a article which "nobody" knows for sure if it's not just smoke and mirrors. This is and always has been a long term investment but, most of us who have been in this awhile have seen far worse articles than this. Jeez we went through the LOP scare more than once, sorry folks for using the "L" word.

IMO this is the best investment of our lives and we are closer than you can even imagine. No worries here, if it comes tomorrow, next week or even next year, I'll be sitting on a beach somewhere drinking a ice cold beer watching the sun go down with a smile on my face.

Stay grounded, calm and be happy

Go RV/RI B)

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How many freaking times are people going to post this? There's been plenty of conversation regarding this article. Do any of you really believe that the IMF is going to come out and publish an article that states the IDQ should be immediately revalued? It's been stable at 1170 for awhile, but now we see inflation creeping up over the last few months. It won't retain it's stability for much longer.

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Great give and take, guys! I agree with BanG, there is too much happening right now for there NOT to be some movement. I also agree that the article in question needs to be better vetted (links, source, etc.) before it can be regarded as credible. Almost anyone can post an article on a fancy looking web site and make it seem legit.

IMO, when you combine this with all the negative pumpers (i.e., "sell your Dinar, it's a scam"), there does appear to be something going on. I think the GOI and CBI both would like to get rid of all the high denom bills like most of us possess, but they know they can't afford, from either an investment environment or economic standpoint, to do it via a LOP or anything else that would diminish Iraq's credibility in the eyes of the world financial community.

Bottom line: hang tough, and ignore the doomsayers. GO RV!

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Great give and take, guys! I agree with BanG, there is too much happening right now for there NOT to be some movement. I also agree that the article in question needs to be better vetted (links, source, etc.) before it can be regarded as credible. Almost anyone can post an article on a fancy looking web site and make it seem legit.

IMO, when you combine this with all the negative pumpers (i.e., "sell your Dinar, it's a scam"), there does appear to be something going on. I think the GOI and CBI both would like to get rid of all the high denom bills like most of us possess, but they know they can't afford, from either an investment environment or economic standpoint, to do it via a LOP or anything else that would diminish Iraq's credibility in the eyes of the world financial community.

Bottom line: hang tough, and ignore the doomsayers. GO RV!

coldwarvet, link to the International Monetary Fund and this story is at the top of this page. Pretty credible source, very long read though.

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Ok - to all the people that replied to my post - what I was getting from the article was that is seemed to imply there would be no sudden Rv on the IQD for a good while. Shoot the messenger if you want - but that is what the article implied from the CBI. Sorry about the redundcancy - I should have SPELLED IT OUT as to why I was drawing attention to the article that was posted in the Iraq-Business News on March 30th. Is there some unwritten rule that if a subject has been posted you can never ever bring it up again for discussion???????? What the IMF is saying is the IQD is stable at 1170 and will most likely not be Rv-ing at any great rate any time soon. :blink:

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I'm with you Starship, I don't like it but this was a report to the IMF, not a pass of gas in the wind!! The report was very specific in not one but two places that the dinar was very stable as was but if necissary, Iraq would let it float to determine the real price. Anyway, that is my take on it. However, as one of the guys before me mentioned, it is a report and things can change. The very next day after I read the IMF report, Shabibi came out and stated that he may make whatever move was best for the stability of the dinar. (I'm paraphrasing, I am absolutely positive that is not exactly what he said but my interpretation.) Whether it goes up gradually by the market or a sudden RV is moot as long as it goes up. Of course, I would rather see it sooner, than later!! LOL Gary2

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Don't shoot the messenger... but this is what I found today.... Is this a smoke screen with continual denial before the fact ????????

Posted on 30 March 2011. Tags: IMF, International Monetary Fund, IQD, iraqi dinar, Redenomination, revaluation

A report on Monday by the International Monetary Fund (IMF) suggests that the Iraqi dinar is currently fairly valued at 1170 dinars to the US dollar:

“The CBI [Central Bank of Iraq] will continue to aim at keeping inflation low, predominantly by maintaining a stable exchange rate. The low level and the relative stability of inflation do not suggest any significant over- or under-valuation of the Iraqi dinar. Also, a stable exchange rate continues to provide a solid anchor for the public’s expectations in an otherwise highly uncertain environment and in an economy with a very low level of financial intermediation.”

The report continues, “Meanwhile, the CBI will continue to keep its policy interest rate positive in real terms. To enhance mobilization of domestic financing, limitations on state-owned banks’ use of government deposits for investing in Treasury bills have been reduced, while the pension fund has also been allowed to invest in Treasury bills and to participate in auctions directly.”

It also allows for the possibility of an upward drift in the value of the dinar over the years:

“Staff supports the CBI’s policy of managing the exchange rate of the Iraqi dinar to keep inflation low. A stable exchange rate continues to provide a solid anchor for the public’s expectations in an otherwise highly uncertain environment. Over time, rising oil revenues could put upward pressure on the real exchange rate, which would warrant allowing greater exchange rate flexibility.”

http://www.iraq-busi...le-iraqi-dinar/

OK, ONCE AGAIN FOR THOSE RIDING THE SHORT BUS !! If the link is from Iraq business do not read any further. Its simple poker face 101 Listen to the old bloggers that say just sit back and wait for it ,for it is coming very soon . The other site really stacked the post in there favor today with some new blood and the old timmers have been tossed into the rumors section . Do you really think your going to read a date and rate on a site knowing that the guy running it will be drawing a check from the main Dinar dealer in future employment oppurtunities.STEP AWAY FROM THE PC GRAB THE REMOTE WATCH AN OLD MOVIE it will not pass you by you will not be left behind ....really

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I was at first really troubled by the sound of this article. I read it a couple days ago, but after going to the IMF site and reading for a while...it seems they just refer to the "stability" of the dinar as something positive. That makes me think that it is possible it will not be a free float but maybe a managed float. Just a thought from a person who really knows very little but it reading quite a bit. Stability is very import. I vote for a stable 3.80 smile

They also are projecting nice increases in oil production even though there are bottle neck areas and some problems. Did not sound all that bad.

Edited by abby01
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IMO, the best question to ask is: Who is in control of/owns the IMF? Remember the "Continental Dollar" in the U.S. I vote for smoke.

heme

I second that !!!

Agree! This is not over yet. If they can convince the populous to get rid of their dinars by selling back to the dealers out of fear they WIN BIGTIME saves on payouts. NEVER GIVE UP! Losers Give up, they are at the bottom of the food chain and thus have the lowest intestinal fortitude or survival rate in a bad situation. Smoke and Mirrors folks and I have said this a million times, DO NOT BELIEVE HALF OF WHAT YOU READ COMING OUT OF THE ME! PONDER A QUARTER OF THE NEWS AND THROW THE REST IN THE TOILET! E.x. How many times did they tell us they had the ministry positions filled? Hell Maliki voted his own picks down.....LMAO. RELAX we are almost DONE! I have been in this many years now and have become wise to the ME news companies and the Arab mentality. Hang in there and stay the course. Peace.

thank you Bang ! i agree 100 % !

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