Dinar News CBI Govenor Says current Exchange Rate Reasonable

[createmyparadise]

Interesting. This makes me wonder how much a loaf of bread costs in Iraq.

Not just that but according to the following announcement there is going to be a "new" 1/20th dinar note. Why in the world would you print something with such low value that 1=0.00017 of a dollar? What could you possibly buy with that?Note:

Iraqi Dinar Revaluation and New Denominations

Recently there has been many discussions about the current news in Iraq in regards to the increase of its currency value and the introduction of new denominations into the Iraqi economy that is scheduled to be brought into action sometime during 2010.

The Iraq Finance Minister issued a statement disclosing preparation of increasing the value of the Dinar against the U.S. Dollar and will in fact issue

[ronscarpa]

Where does anyone think Iraq falls according to this explanation? Are they a "developing country" that does not want to hamper its "foreign trade"? And do they truly want to be on par with the other GCC's? I would be interested in hearing someone's take who is familiar with these two routes of exchange and where they think Iraq fits in. Again, to me, I smell an RV. But would like to hear other educated comments.

Well said Keylime - you are right on...!

RON

[jcav]

Do you realize that this is great news?! Really. I'm not hyping this at all. Look closely at what was said and take away your pesemistic thought s away from this. Shubibi says quote, "The CBI is adopting a managed floating policy of exchange rate, through which a reasonable exchange rate is fixed".

This means that they are looking to float a rate possibly to find out the try value of the dinar. The key words are "adoptinga managed floating policy". They are creating a action plan to revalue the currency! Floating a rate out on the market is opening it up to be traded internationally! That's great news my friends! Wooowhooo!

Interesting quote here----> “The current exchange rate is reasonable and stable and can be defended by our vast foreign reserves, totaling $43 billion U.S. dollars at the moment,” Shubibi explained. They are telling us that we have plenty of reserves to cover what they need to do in order to RV, and that to continue with the current rate but they can afford to do more. Just put both quotes together and there you have it!

Please understand that the chess match is going on here and they are not just going to come out and drop this RV thing without discussions and leaking somethings to the press to cover their butts when a decision is made. When is the last time you have seen the CBI make a statement about anything?! They don't and haven't in a long long time. They have just now, because they have been given the authority to do so by the UN and Miliki. Shubibi is in charge now of the RV decisiopn- along with all the IMF (U.S.), the big five and the Rothchilds who own the CBI. I guarantee they have decided on a rate, and if they haven't they decided to do a float to see what the market value is going to be.

Wait and see what happens in themedia today and tomorrow. I've already posted a thread shwoing that www.Zawya.com has reposted the Miliki quotes from the 28th! This is a big news website for major business owners and if they get wind of this and other media sources start seeing these types of quotes being thrown around Iraqi officals and CBI, then CBI will have to explain themselves. The NBC's, ABC's, and Fox news networks are going to start questioning (researching) this, and then it's all over excpet the RVing!

So, sit back and enjoy the ride my friends!

Exactly what I was thinking there my friend.

[ronscarpa]

India is .31 USD. Go there cash it and buy some more right now. http://www.india-forex.com/forcurr.htm

This is amazing...! How would we go about exchanging at their posted rate...?

[ronscarpa]

Not just that but according to the following announcement there is going to be a "new" 1/20th dinar note. Why in the world would you print something with such low value that 1=0.00017 of a dollar? What could you possibly buy with that?Note:

Iraqi Dinar Revaluation and New Denominations

Recently there has been many discussions about the current news in Iraq in regards to the increase of its currency value and the introduction of new denominations into the Iraqi economy that is scheduled to be brought into action sometime during 2010.

The Iraq Finance Minister issued a statement disclosing preparation of increasing the value of the Dinar against the U.S. Dollar and will in fact issue

[prosperalways]

Hey everyone just getting in the required post

[Jay Lee]

I think this is just a "fake to the running back and throw over the top for a touchdown." Maliki just said yesterday the dinar is undervalued. This smells like an RV touchdown to me.

Where did Maliki say that at? Can you post the article?

[Silverdinar]

weeeh doggies, Jethro that black stuff coming out the ground is just liquid poop.. so much for cashin' in today, eh. well maties it's back to the drawing board... what is Plan B? guess we'll have to gert a JOB ( just over broke ) daily labor position, Wal-Mart greeter here I come.. lol

[Barbann]

I am wondering if one was talking about the auctions and the other talking about a tradeable currency...

[NotReallyTex]

Get real people. The fat lady has sung. It's over. Sell you dinar while it is still worth something

Do you have Dinar and are you going to sell them now?

[sammiePJ]

hmm.... you think that they would spell his name right.. i went and ck-ed and ah yea .. that didnt spell it wrong ... nor did i see anything posted on the CBI news... you think that all this would be posted there also... so who knows.. all i do know is that... they spelled governor name wrong TWICE...

[Robinsnest]

Mr. Shabibi. Your currency is valued significantly below some of the poorest countries in the world including Liberia, Eritrea, Ethiopia and Haiti. All of these countries have currency that is less than 71 units to the US dollar. What was that again on your comment that the Dinar was reasonable at 1168? Do you need a towel for that sweat on your forehead Mr. Shabibi?

[sammiePJ]

you are 100 % right ... they did spell his name wrong twice... does make you wonder

[keylime]

Where did Maliki say that at? Can you post the article?

PM: Iraqi dinar re-evaluation has to do with economic conditions

BAGHDAD / Aswat al-Iraq: Iraqi Prime Minister Nouri al-Maliki said on Sunday that the process to re-evaluate the Iraqi dinar has to do with economic conditions that have to be strengthened.

[zack]

Comfortable with where it is at? Are you kidding me? Now this is just plain funny. More smoke. Makes me wonder how legit this article is when Shabibi's name is mispelled twice. Obama, Osama, guess it could just me a mistake.

No offense Robinsnest, but it is easy to "misspell" a word - especially when it is a leader from a foreign country- and we do it with our own language all the time.... I do agree it could be smoke though, and am contending for an RV of over 2....!

[krucialmix]

No offense Robinsnest, but it is easy to "misspell" a word - especially when it is a leader from a foreign country- and we do it with our own language all the time.... I do agree it could be smoke though, and am contending for an RV of over 2....!

Reputible news agencies have proofreaders and hardly ever do regular words get published not spelled correctly, but the leaders name? I smell a rat.

Maybe this article is to curb the speculative investing that Maliki's statement put out yesterday?

[Mongo]

RELAX peeps.....sit back and enjoy the ride...........with family member if you need to

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[levi j mcguire]

IMO to the definition of floating exchange rate they need to let it ride for a period of time to find a manageable rate to reset the value, based upon letting the exchange rate fluctuate/vs funding an then to RV it at a logical rate instead of just coming up with some number out of thin air.

[levi j mcguire]

or instead of just giving me what it is I want to sell my Toilet Paper for?

[Chief V]

Everybody needs to do some of their own research, go to the World Bank website and click on publications and find this document:

World Bank 2010 Policy for Iraq and do your due diligence, it's quite an extensive document but once you read it you'll understand this is not something that's going to happen immediately, they have to control the inflation rates as well as the reserves without overstepping, their GDP is based on Oil Revenues and they're only producing 2.5 million barrels per day right now, it's going to take another four to five years before they can reach the 12 million per day, they're still paying off bills and won't be in the green until late 2012 more than likely. They might break even by the end of next year. The infrastructure is being completely revamped. It's antiquated, and way out of modern technology standards.

Here's the first part of the first page so you can relate to it...read it all and you might be quite surprised.

INTERNATIONAL BANK FOR RECONSTRUCTION AND DEVELOPMENT

PROGRAM DOCUMENT

FOR A PROPOSED

FIRST PROGRAMMATIC FISCAL SUSTAINABILITY

DEVELOPMENT POLICY LOAN

IN THE AMOUNT OF US$250 MILLION

TO

THE REPUBLIC OF IRAQ

February 12, 2010

[chang]

This is amazing...! How would we go about exchanging at their posted rate...?

Jump on the and go. Exchange the dinars, hang out for couples then come home with $$$$USD. I would if have alot of dinars, but I don't.

[Jay Lee]

PM: Iraqi dinar re-evaluation has to do with economic conditions

BAGHDAD / Aswat al-Iraq: Iraqi Prime Minister Nouri al-Maliki said on Sunday that the process to re-evaluate the Iraqi dinar has to do with economic conditions that have to be strengthened.

[tj34]

RELAX peeps.....sit back and enjoy the ride...........with family member if you need to

[ATTACH=CONFIG]651[/ATTACH]

I think I went to college with that dude