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Sunday, October 22, 2017

DINAR GURUS UPDATE, 22 OCT

10-22-2017   Newshound Guru Don961   [New Guru]   Article:  "Names of government delegation accompanying Abadi to Saudi Arabia"  Quote:  "Prime Minister Haider al-Abbadi visited the head of a large government delegation to the Kingdom of Saudi Arabia and during the meeting it was agreed to form a joint council between the two countries concerned with security and economic affairs."  ...seems like Abadi took his whole Cabinet with him! ... and some high-level advisers ...  people who actually get things done in the GOI ... as compared to Parliament ... US-SOS Tillerson as well ...thinking there is far more involved here than just a feel-good visit to the neighbor ... imo.

10-22-2017   Newshound/Intel Guru Mnt Goat
   ...there is no reason to compare the Iraqi dinar to the Kuwait dinar experience. The is no reason why the Iraqi dinar may not rise very quickly once they unplug it from the financial sanctions and restrictions and place it back on the open market. If it gets out of hand, the IMF will simply step in and regulate it. But when they do, this it will be with the old 3 zero notes combined with the newer lower denominations. Both will coincide for up to 10 years, as the CBI has told us.  The dinar is planned to be pegged at his time to an SDR basket (five leading global currencies).  ...the value is not now artificially low, as it...went into hyper-inflation due to the sanctions and embargo of 1991. The dinar has been valued at exactly the rate it deserves.  But having said all this - there are the recent Abadi reforms, the growing of the economy and the political stability and the security that has changed Iraq for the good and so it is time to change the value and progress to a new rate.  [post 3 of 3]

10-22-2017   Newshound/Intel Guru Mnt Goat   Next, once the newer 3 zero notes replaced the old Saddam notes, they had to slow down and stabilize the economy somehow. How did they do this? They did this by issuing the news notes along with instituting the a “de facto” peg of these notes to the US dollar. This was pegged to the US dollar only and not the British pound.  The CBI and IMF have told us this countless times already in articles and news. Next, this “de facto” peg is not a float and is not even close to a float the IMF has talked about putting the Iraqi dinar on, once they move the currency out of sanction restrictions (which I believe they are now doing) and back to “full” international status. I don’t care to get fussy in what specifically they will call the float they will use but it will be a “fixed float” in that the market will determine the value based on supply and demand for the currency. In other words, they will fix an initial value and let the market drive it. 

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