Chocolatiere Good morning .. Hope Kaperoni is right because I just came across this comment by FORBES quote ( facts and figures, noting that in 2003 the Iraqi government replaced its old currency (known as “Swiss” dinars) with a new currency and offered to convert 150 new dinars to one old dinar.
The dinar became 99.3% less valuable overnight. He also brought to light a slight problem with buy and sell economics. “There are now over 35 trillion dinars in circulation (about three times as many dinars as there are US dollars)………
Iraq has increased the amount of dinars in circulation well over a thousand-fold and, ironically, over 80% of these dinars exist outside of Iraq, where they are generally not convertible!
The implication is that most dinars are not being used for trade and commerce (the ostensible purpose of any currency), but for speculation by duped investors.” it also mentioned that if Iraq re denominate it won’t change anything …
ITS HARD TO FIGURE ALL THIS OUT .. I wonder what Kaperoni would say to this ?
Kaperoni I see a post above from someone named chocolatiere asking for my view so here I go…
Kaperoni Yes, there is more than 35 trillion dinar in circulation now..speculation is its over 40 trillion. I do not see this reduced until they float the dinar allowing the CBI to collect it gradually and reduce the money supply. There is no single event that can accomplish that without causing issues with the balance in the auctions.
Kaperoni I believe that a good majority of dinar was sold outside Iraq. I do not know the exact number, but I strongly believe it was for a purpose.
Zig Kaperoni : Hi Kap….
Kaperoni That purpose was to rebuild the CBI reserves with dollars as well as creating demand for the dinar worldwide once they begin open the economy.
Kaperoni Hi Zig
Kaperoni Saleh once stated he wanted the dinar to be held as a foreign reserve around the world for a very long time.
Kaperoni That statement also tells me he expects Central Banks to hold the dinar which likely is where the dinar we hold will eventually end up
Kaperoni With the acceptance of Article VIII under the IMF, the dinar will become a more convertible currency allowing the dinar to be traded and exchanged worldwide.
Kaperoni We just have to sit tight until that happens
Kaperoni Hope that answers her question.
John Float on Iraq
Zig Kaperoni : Have time to chat with some others now?
Kaperonisure I got a few minutes
Kaperoni dive in lol
Doug_W howdy Pizza Man
Kaperoni Slow friday
John Any movement of the IQD would be nice
Kaperoni I just wish this would start so Sam can eat his words lol
Zig Kaperoni : LOL….that would be nice…
John Kaperoni Sam who
Kaperoni I send me a pizza he owes me
Kaperoni Sam I am
John Never heard of him LOL
Kaperoni John we all want to forget him
blackgold Kaperoni yo mentioned article Viii, its been 14 to 15 years, any Idea why its taking so long, they ae selling plenty of oil besides other things
Zig Kaperoni : Sam said that you two actually agree on many things……
Kaperoni blackgold compliance
Kaperoni If you read the Article IV consultations the IMF had several things the CBI needed to do before they would qualify to move to VIII
Kaperoni They were in compliance in 2012, but Shabibi was run out of town and they never got back in compliance until March 2018
Kaperoni Zig we do…but he frustrates me also on many things that he refuses to read or accept
blackgold Kaperoni Iraq doesn’t run or own CBI Rothchilds do
blackgold we could be waiting forever
Kaperoni black they still have to meet compliance with the IMF
Andredinero blackgold no all this already happen gold / don’t stress yourself / there’s no news today until tomorrow about Iraq / nothing just relax today / DONALD TRUMP reject the bill for his veto for the national EMERGENCY / all that it’s old news / just relax and continue doing what you doing until tomorrow / stop stressing over it everybody / now it’s relaxing until tomorrow budey
Kaperoni And now the CBI is in compliance for about 12 months so anytime is good for me. 🙂
Andredinero Gold let the gurus have THEIR FUN just relax buddy
Kaperoni That being said, I had hoped for a new Article IV Consultation but until the GOI is complete that wont happen
Blackgold Kaperoni No starting an arguement but they own all the big bank and hands in IMF, so you are saying they have to comply with themselves
blackgold Its been 14 years
Zig I do not lump Kaperoni in with Gurus like Tony, Ray, Bruce, Frank, etc….but I know that others do so….I classify Kap as a RESEARCHER who lives in reality….others disagree…..
Kaperoni black Iraq is no different that any other central bank…each month different banks around the world have such consultations and have to me these same standards. Go see for yourself on their website. imf.org
Andredinero It’s not worth it people will always have their own opinion arguing with some one that only see their opinion it’s like arguing with a brick wall long has they don’t make negative remarks that comes out passive aggressive to make your do something stupid with your dinar then just let everybody enjoy their opinion right now its a freedom of speech country now the only time you could get in trouble it’s back calling a black person ****** it’s call because it would be a disrespect to the ancestors whether then that let them enjoy their self that’s how they feel happy about giving their own opinion
blackgold Kaperoni True but none of them do
John Maybe I5raq needs a laxative to get movement going?
blackgold some are even worse off than Iraaq
Zig Andredinero : Kaperoni has been researching this for many years….he is far from negative…..he expects to profit from this some day…..
Kaperoni If you do not think these controls by the UN/IMF are not real we have nothing to talk about. Because I follow these as reasons for what is happening.
Kaperoni John, maybe lol
blackgold Kaperoni I believe they are real i also believe they are all full of crap after 14 years
Kaperoni Zig the problem is i researched this almost 10 years ago and much I have misplaced or forgotten. Getting old. lol
Andredinero emergency in his first vetoPUBLISHED 17 MINS AGO UPDATED 7 MINS AGO
CNBC.COM President Donald Trump vetoes legislation that would end the national emergency he declared at the southern U.S. border.The veto is the first of Trump’s presidency.Congress will try to override it, but it appears not to have enough votes as of now.
Andredinero President Donald Trump speaks about border security in the Oval Office of the White House, Friday, March 15, 2019, in Washington. Trump issued the first veto of his presidency, overruling Congress to protect his emergency declaration for border wall funding.
President Donald Trump rejected a bill Friday that would end the national emergency he declared at the southern U.S. border.
The president’s veto, signed in front of reporters in the Oval Office, is his first since he entered the White House. While the Democratic-held House will likely try to override his opposition, neither chamber of Congress appears to have enough support to reach the two-thirds majority needed.
blackgold Kaperoni thank you i’m done
Kaperoni Black that is were we differ. What I have seen from the IMF is exactly what is happening with the CBI and Iraq. Just takes time
Zig Kaperoni : Don’t you get frustrated with all this??…..lol
Kaperoni all the time
JoeSchmoe Andredinero please stop copy/pasting articles,and just supply the link. Some people want to read what kap is saying, and you just disregard it
Young SC But Kap you have not address the issue of Alak stated in 2017 that the Dinar will not float but come out at a fixed rate
Kaperoni But what can we do? just wait it out
Andredinero blackgold So you see gold everything is going in the right direction now so just relax be easy let things be and we all waiting and hoping to hear a great announce tomorrow and for everything to be finish after that
Young SC Could you please address that
Kaperoni Young, I have several times.
Young SC Not here
Zig Kaperoni : Wish Dave were here….said you never completely answer his question…..
Kaperoni I stated, that you must understand before you jump to conclusions the “context” of what Alaq was saying.
Kaperoni Was he saying he would never float? or that he would not float at this time?
JoeSchmoe this is what Dave is asking about.
Kaperoni I can assure you he is not saying he would never float…because that is a primary tool for any central bank
Young SC He said no float whatsoever
JoeSchmoe There’s Dave…….here ya go buddy
Zig Something about taking 1000 fils to buy a coke…..Dave always brings that up…..
Kaperoni If the auctions are going to end, the CBI needs an alternative for making money
Young SC CBI only wants to come out at fixed rate
Kaperoni Young they cannot have a fixed rate. It goes against all principal of the CBI to counter inflation which is expected with an influx of investment
Kaperoni They need to float to create price discovery for the dinar
Kaperoni and counter the inflationary presure created with billions of dollars of investment
JoeSchmoe Kaperoni so will they change the price for goods every time they float up or down?
Dave well…. all here except for sandyf…rumble in the jungle….
Kaperoni Joe, does the USA do that?
Sam I Am Kaperoni Most economists will tell you that inflation is preferable to deflation, do you agree?
Zig Sam I Am : Hi
JoeSchmoe Kaperoni I havent’ seen it go from .10 to $5 ever before
Young SC Dave smiley
Sam I Am Yo Zig
Kaperoni This is not something new. Over 100 countries float which means they all deal with it
Kaperoni Hi Sam
Sam I Am hi
Zig Kap & Sam…..Continued……LOL
JoeSchmoe but over 100 countries weren’t valued at a tenth of a penny
Kaperoni Joe your point? Not all countries are expecting billions of dollars in investment either
JoeSchmoe that’s your rebut?
Sam I Am I don’t have long but I would like to see how Kap explains the ability of the CBI to absorb the deflation that would result from the rapid appreciation in the dinar with his float theory?
Kaperoni Iraq could become the next Dubai
Dave Kaperoni in the yr 2525?
Young SC Kaperoni That is why you and Sam confuse the situation. If the govenor of the CBI has come out numerous times stating that we will not float the dinar whatsoever and prefer the fix rate would you not think that people who are involved with the Dinar listen to the head person in charge of their own currency then a person of just an opinion?
Kaperoni Sam that is not for me to figure out. I just state what is already in print from the IMF
JoeSchmoe Dave until then?..
JoeSchmoe or never bring out the lds
Sam I Am Young SC I don’t believe in Kap’s float
Zig Sam I Am : You think that they will maintain the peg, right??
Young SC Sam I Am and i do not believe in your theory aswell
Kaperoni Young, I can show you 10 or more articles that say they will float for every 1 article you find that says they wont.
Sam I Am I believe that the CBI will keep the IQD at less than 1/10 of a penny until they replace it
Dave JoeSchmoe thanx
Sam I Am Zig correct
JoeSchmoe Dave i thought that is what you always meant
Dave pic worth a thousand words
Kaperoni Sam you read the IMF doc, yet refuse to accept their own words lol
JoeSchmoe still haven’t heard an explanation
Dave JoeSchmoe yeppers
Sam I Am Kaperoni I refuse to accept your interpretation
Kaperoni Selective reading perhaps
Doug_W JoeSchmoe “an explanation”
Kaperoni Sam English is english
JoeSchmoe Doug_W why you single me? lol
Sam I Am It’s not a free float. It’s a managed float which is already the case to maintain the peg
Dave Kaperoni cherry pickers…..
Doug_W NOW U have heard it lol
Zig So the difference is in the interpretation for Sam and Kap…..
JoeSchmoeo h…smart @ss
Doug_W JoeSchmoe so I have been told
JoeSchmoe you may be a smart okoli, but there are also some that are seriously dumb richards
Kaperoni Sam whatever you want to call it. But Iraq has not moved to a liberal exchange rate regime as per the IMF in 2012.
Young SC Kaperoni those 10 articles are irrelevant to the CBI coming out and stating a no float
Dave would it not be simplier for andre to explain it to sam and kap?
JoeSchmoe Young SC weren’t you saying something about the timing of the artilcles as well? Or was that to Sam>?
Kaperoni They are still pegged and maintaining stability to meet compliance per the request of the IMF
Andredinero I just watch our great president give a great speech and rejecting the bill for his veto for the national EMERGENCY things are going in the right direction we relaxing and wait while things are almost finish
Sam I Am Kaperoni If they move to a liberal exchange rate regime that would more likely drive the value down. Vietnam has a more liberal exchange rate than Iraq and the dong has been losing value for years by design.
Kaperoni So Young you also must be disregarding the IMF docs?
Zig Interpretation…..the KEY…..IMO
JoeSchmoe well maybe the cbi and the imf can’t get on the same page?
Sam I Am Zig I have to go. Could you get Kap to respond to “deflation”?
Kaperoni Sam again, your stating the solution which is not what the IMF predicts or suggests
Tebow See all the losers are here! :laugh
Young SC JoeSchmoe sam does not like new relevant articles he prefers old irrelvant news from 10 yea
Kaperon iBye Sam
JoeSchmoe Young SC so it was sam and not kap
Young SC 10 years ago*
Zig Tebow : I beg your pardon….lol
JoeSchmoe Young SC are kaps articles present or past
Kaperoni I have to go outside also so I have to go
Kaperoni Have a great day.
Young SC JoeSchmoePast
Kaperoni Bye Zig
JoeSchmoe how far past
JoeSchmoe like sam’s?
Zig Kaperoni : Bye