Frank26 I just don’t see that it’s going to be in a basket. I think it’ll be a fixed rate...What would it be? Well they want 1 to 1. IMO maybe $1.50 to 1 or $1.30 to 1. That’s a fixed rate. But that fixed rate is going to be put in the international markets – Forex. Because of supply and demand, using, buying and trading with it, the value internationally is going to go up…The CBI seeks what’s called a REER, Real Effective Exchange Rate.
Kaperoni Question: “So would the CBI set the initial float rate?“ When a country makes a determination to float their currency, the exchange rate is whatever the official rate is at that time. Supply and demand then takes over from there.
MarkZ [via PDK] I did have multiple bankers over the weekend get notified and are beginning training today. They are “Training to handle foreign currency exchanges”. Some of the currencies mentioned are exactly what we are holding…And they are being trained on them…They need to know the security features on the various bills in order to verify them on site. That is what they are training on… NOW – THIS WEEK-IMMEDIATELY!!! These are banking people who have never been trained before…these are some of the ones the banks had told them “No, this is never going to happen” and now suddenly the banks come to them and say “You have got to get trained now – this week – immediately”…Gave me a good warm and fuzzy feeling today.
Pimpy If the dinar were to go free floating that means the rate it will adopt is going to be the one that we see on the parallel market…
Paulette Community Comment: “On May 9th it has been announced that Iraq will become a FULL member of the WTO.” I have not seen where Iraq has participated in the Third Round of negotiations…It took Iraq since 2004 to complete everything assigned in the First Round of negotiations. It was only earlier this year that they completed those requirements. They were given tasks in the Second Rd of Negotiations which they are in process of completing. They may be given tasks in the Third Rd of Negotiations also. The Third Rd is scheduled for “mid-year”. I believe the only countries that have completed everything for the May 9th Ascension Ceremony are Comoros and East Timor….
Frank26 What the budget needs is for parliament to view the amendments that Sudani made and I pray one of those amendment is a new line item with a new exchange rate.
Walkingstick The main reason why they’re going to float the Iraqi dinar is to build confidence in the country of Iraq. A float brings in these investor that Sudani has been signing left and right. These investors will watch the float and as the float increases they will say to themselves, ‘Hey, maybe I should invest in this currency.’ …The float is to build confidence in the country and in the currency of Iraq.
Kaperoni Article: “Al-Rayes: The path of development is the first gateway to sustainable economic advancement” If and when the Iraqi dinar begins to float supply and demand based on Iraq’s economic success will take over. Only with the success and growth of Iraq’s own economy can the dinar go up in value. How fast and the pace are determined by those factors.
MarkZ [via PDK] There was interesting money movement over the weekend according to my best group contacts. It is clearly positioned to go…
Militia Man Article: “Specialist: Floating the dinar is economic suicide” Them bringing up exchange regimes obviously…they’re going to do something because why talk about it if it’s not going to change. You don’t.
Frank26 there’s no set date for this to happen. That’s just the way it is. I’m sorry if you can’t tolerate that, you should move on. But if you can tolerate what a speculative investment brings into you your life then you understand, oh my gosh…[Saleh] just told the Iraqis the Iraqi citizens that the exchange rate for our currency it’s almost reached the official rate and once it does we’re calling upon it to float…
Wolverine Looks like all things are geared up for this coming week…the green light has been given. We will have a glorious upcoming week, and the notifications are coming out any day now...
Mnt Goat Article: IRAQ TALKS ABOUT PRODUCING ONE MILLION LITERS OF GASOLINE DAILY Quote: “increase refining capacity production rates and improve production in national refineries to reach self-sufficiency and gradually shift to exporting them to global markets…” Well…well…its about time that Iraq got these refineries up and running. Lots of articles about this effort over the last ten years. Did I hear of another export product here?
