Statement by IMF Leader Lagarde on Iraq

[pocono]

Sounds like they're saying the dinar is ALREADY strong.. at 1170 to 1.... Huh...

That's pretty much what they said back in March....the 1170 to 1 rate was fair and not over or under valued...also they were confident Shabibi could hold it there and the Dinar could increase in value in years to come..

Lets hope they've changed their minds and say something different in Jan.

The link defaulted as "too large to post" but it's still availabel on Iraq-Business News dated March 30,2011 should anyone care to look it up.

[WYOMING]

I don't think this article means squat.

She didn't say anything we don't already know.

Go RV!

sorry your so negative.

[BrokeNoMore]

sorry your so negative.

I'm not negative...it's neutral.

She didn't say anything bad, either.

Just kind of a "state of the union" kind of.

Certainly not "Now we're ready to let you make your currency worth 1000x more than it is today!"

[keepmwlknfny]

Cmon keep...you say your here to learn....take a look at whats going on around you...you are way to smart to continue with such a closed mind. With all due respect keep....its all right here in front of us all.

Its not being closed minded lol....your taking my comments the wrong way. Like Aqua Dude was saying they are reporting that the dinar is already strong, which is good....not saying this is a bad article either lol....but they are talking in past tense, not future as in the dinar will be strong....

You immediately think Im trying to say something bad or negative but I wasn't, just the fact of whats being said....this wording does get a little misconstrued and taken as they are saying they are going to RV in the near future, cause I always thought that too when these articles would come up, but then I went and researched what makes a currency strong and its not always about its value.....some people even take it as "the dinar isent strong at all why are there conflicting articles" lol....

Not being negative on this....was just reiterating what Aqua was pointing out...

How dare you diminish the dream.......this article clearly states RV!

Im sorry MrHappy.....

[Shick]

QUESTION? HOW CAN THE DINAR BE STRONG AND STABLE AT PRESENT, OR AM I MISSING SOMETHING.

[Mazzz27]

what was that part on low inflation?

[WYOMING]

I'm not negative...it's neutral.

She didn't say anything bad, either.

Just kind of a "state of the union" kind of.

Certainly not "Now we're ready to let you make your currency worth 1000x more than it is today!"

I thought that " strong dinar, low inflation, and a resumption of economic growth" was very positive. She is saying that they are going to resume econimic growth. Just my take on it,could be wrong. Sorry, I guess you were just being neutral.

[Boiler]

Why would Iraq need a SBA loan from the IMF? If the NID RV's why the SBA loan? Make one think, or I just don't understand, and by the way I have a SBA loan, due to Katrina flooding my house to the roof. Now I know why Obama will not forgive the SBA loans! Maybe over reading it!

Things are heating up!

Gina G-are you near Slidell? I did disaster relief with Bethany Lutheran Church gutting houses for a week here and there. Hope you are all settled back in

[Rossenbos]

so they will not be a full member but still on stand-by (observer position )

They won't have to worry about making loans then to the IMF to bail out Europe

The Europeans don't need a loan if they bought / stolen some dinars while ramsacking the place...

[George Hayduke]

The next two and a half weeks will tell us if all we've been hearing is true or more smoke and mirrors, i'll have to take a break if it doesn't pop by then, my head is spinning from the ups and downs, I bet I'm not alone.

My eyes hurt, ears ring and I've got a jaw ache from grinding my teeth. There is sooo much information overload but no actual, concrete movement of data that would indicate movement is imminent - just that possibilities are... well, just that; possibilities.

It's enough to consider checking into a Dinar Trade Rehab center...

[WYOMING]

My eyes hurt, ears ring and I've got a jaw ache from grinding my teeth. There is sooo much information overload but no actual, concrete movement of data that would indicate movement is imminent - just that possibilities are... well, just that; possibilities.

It's enough to consider checking into a Dinar Trade Rehab center...

Isn't that the truth.

[TonyDownTheShore]

My eyes hurt, ears ring and I've got a jaw ache from grinding my teeth. There is sooo much information overload but no actual, concrete movement of data that would indicate movement is imminent - just that possibilities are... well, just that; possibilities.

It's enough to consider checking into a Dinar Trade Rehab center...

There's an opportunity, if this doesn't pop there'll be demand for Dinar rehab centers across the country.

You are not alone! Hang in there. I have a feeling it's almost over.

thanks Canuklady, it's very frustrating, I have faith we're close too.

[George Hayduke]

There's an opportunity, if this doesn't pop there'll be demand for Dinar rehab centers across the country.

Hey... now that is a thought. How many Dinar holders are there & just think of all of the empty store fronts we could lease dirt cheap. Hmmmm. Franchise fees $$$

[TonyDownTheShore]

Definitely not alone....this thing doesnt happen by Jan 31st and I am out! The whole thing is really getting boring to watch....same stuff everyday. But Im pretty excited about the next couple of weeks.

If not I will just put them away and when it happens it happens....time is money

I'm not selling either, just going back to my normal life, check this site once a day and if nothing happened computer goes off.

But I really believe I won't have to, looks very good for something to happen soon.

Hey... now that is a thought. How many Dinar holders are there & just think of all of the empty store fronts we could lease dirt cheap. Hmmmm. Franchise fees $$$

I'm in.

Agreed. I will definitely be stepping aside in a bit if it keeps "seeming" to go somewhere and doesn't. I will have to take a break. Could be nice!

I knew I wasn't alone, hopefully we won't have to.

[Carrello]

I thought that " strong dinar, low inflation, and a resumption of economic growth" was very positive. She is saying that they are going to resume econimic growth. Just my take on it,could be wrong. Sorry, I guess you were just being neutral.

didn't I say spoiled.....

My eyes hurt, ears ring and I've got a jaw ache from grinding my teeth. There is sooo much information overload but no actual, concrete movement of data that would indicate movement is imminent - just that possibilities are... well, just that; possibilities.

It's enough to consider checking into a Dinar Trade Rehab center...

Start your own rehab center - we could all check in. At least you could finally make some money off of dinar.

Edited December 14, 2011 by Carrello

[George Hayduke]

Start your own rehab center - we could all check in. At least you could finally make some money off of dinar.

LOL! Oh, what a sad waiting room that would be...

[BrokeNoMore]

I thought that " strong dinar, low inflation, and a resumption of economic growth" was very positive. She is saying that they are going to resume econimic growth. Just my take on it,could be wrong. Sorry, I guess you were just being neutral.

I just mean that it isn't new information. So I have a neutral response to it. The speech wasn't meaningful, at best, repetitive.

It's okay with me if it makes you happy!

[randalln]

The Europeans don't need a loan if they bought / stolen some dinars while ramsacking the place...

HMM im not saying anything

[MrDinarman]

QUESTION? HOW CAN THE DINAR BE STRONG AND STABLE AT PRESENT, OR AM I MISSING SOMETHING.

How is it not strong and stable? Inflation is fairly low around 5-7%. Keep in mind, in 2006 inflation was over 65%. They now have that under control. The country is now more stable than its been in 30 years. Their currency is gaining value, albeit slowly. It certainly isn't depreciating.

Just check out the other mid east countries with all the corruption and turmoil. Iraq is the safest bet.

[rvb4jan1]

Protocol, protocol, protocol. This is what is required to push Iraq through the world monetary system. It looks like that is what is happening! Everything is in fast forward.. Just look at how all agencies are stepping up to support Iraq. The UN is next.

[Man_Kind]

love it lets do this!!!!!!!!!!!!!!!!!!!! This country is gonna make alot of people very wealthy follow the money people. The dinar is just the beginning!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

Hell yea easyrider , you got that right Brother !!!

[gsxr600]

Yep, the dinar is already strong.....its value is stable, and the currency is backed 110% by its reserves.....thats a sign of a strong currency.....

Strong doesnt necessarily mean high value....

Perhaps this investment is not for someone like you. As you are always very negative in all of your views why stay invested bro? Just saying...

[Darin]

The IMF is backing iraq now they are not giving money because the had a surplus for 2011 but if the oil price was to drop and they could not make the budget for 2012 the IMF will step in and pay the outstanding ...

they are still under the protection from paying there dews to the IMF and that is a percent % of there GDP just like the USA,UK and every other member .

so by extending there protection they will make there plans(budget ) for 2012 .

I see you were getting the WTO & IMF mixed up, but you were correct.

You are right, the GOI has to pay fees to be an IMF member. You could view those fees basically like insurance premiums. The idea is that in case of an issue, the IMF can step in & help out. Now, if I recall correctly, even on top of the fees paid any money borrowed would still have to be repaid (Just they receive reasonable terms to pay back).

On an extended note, they have to pay a % percentage of their own domestic currency for the quota while the remaining % percentage has to be paid via a trade-able reserve currency.

Not sure on the percentage that has to be domestic, but I think it is 33% (1/3). Maybe someone can dig further into that.

I wonder how they pay it that way? Digital? Physical? I would think Physical...

Someone should look into what the accumulated fees would be on that. Could make up a large part of their current circulation if the fees are rather outrageous.

Strong currency? Well, if you back your money by liquid assets and have more than 100% of liquid assets to back your current exchange rate, we would be naive to consider that not a strong currency.

Imagine if the USD switched to that type of policy... Heck, even the millionaires would be starving as the USD would crash. The US only holds about $150 Billion in net foreign cash reserves.

So, what is the difference between the USD & IQD in terms of how their valued?

Well, the USD rate is set by the market while the IQD rate is set by the CBI. Demand sets the value.

See, demand for the USD is way beyond what we have in liquid assets to back it, so it can sustain that value.

Demand for the IQD is not as high as the USD. But, with the amount of incoming investments into their region, demand will surge... Locals will be put to work, and the companies that employ them may be them in IQD. Businesses may create bank accounts to purchases from other local businesses for supplies. Trade & commerce will increase, which will boom their economy.

As more people fly in & out of that region because of business reasons, government reasons, or simply to visit, foreign currency exchange stations will have an increase in demand.

IMO, the IQD is scattered all over. Canada, U.S., Mexico, EU, Australia, Japan, and surrounding regions of their local area. Held by speculators, exchange stations, banks, etc.

What they need to do is increase local demand.... I would likely argue the 3 zero articles are not helping the cause. But they can't make any hints of increasing the exchange rate as people would save their IQD and not spend it. Proposing to the public a revenue-neutral event would sure help continuing the spending of the domestic cash, huh?

[DinarDana]

I evened you out Keep, Your entitled to your opinion without getting -'s.

Yes, I agree +1.

[YukonJohn]

I'm gonna marry that gal! Just luv it when she talks about "strong dinar"....

Thanks for the post Aqua Dude!