Kaperoni saying this new Open Market operation is going to fix the spread issue which will allow them to raise the value.

by **Ponee** Tue Feb 11, 2014 8:47 am

2-11-2014

Kaperoni Article quote: "Central Bank announces directly funded Iraqi banks open accounts in the bank 10/2/2014 Announced the central bank directly for a large number of Iraqi banks, public and private funding of open accounts in the bank. According to a statement by the Central Bank that a large number of Iraqi banks started financing open accounts in the bank for the purposes of the foreign currency auction returned directly funded banks accounts quick response to new instructions approved by the Bank CBI recently." this is exciting stuff...the CBI wrote some new rules last year for the daily currency auctions. the actual new rules were posted back in Sept on CBI. they tell the banks they are changing the currency auction format and going to a new Open Market operations where the CBI is no longer the provider of foreign currency unless absolutely neccessary.

these banks now have 250m in capital so they dont need the CBI. so, the basic auctions now have changed and are now called Open Market. Last Sept when this policy was created an article came out. "the Central Bank told the House Finance Committee will follow the new theme mechanism will make a significant contribution in raising the value of Iraqi dinars before next June and will be the mechanism to raise the value of the Iraqi dinar against the US dollar." This new rule that they implemented is the mechanism! it is in effect now...banks are now acting under this new policy. It started last week. IMO this new Open Market operation is going to fix the spread issue which will allow them to raise the value.

The Committee Member said Faleh Sari for daily "Alalam" that "the Central Bank told the House Finance Committee will follow the new theme mechanism will make a significant contribution in raising the value of Iraqi dinars before next June and will be the mechanism to raise the value of the Iraqi dinar against the US dollar." before June folks! the key is that they have implemented Open Market operations and all banks in Iraq are now on this. it just went into effect this past week. even this excites me!

by NewtaRado Tue Feb 11, 2014 2:03 pm

I would love to get some words from Kevin on this one

by **Ponee** Tue Feb 11, 2014 2:13 pm

He will probably be on a little later today

by NewtaRado Tue Feb 11, 2014 2:18 pm

Kevin's posts are what keep me on ground level. Smart guy, that one

by **Kevind53** Tue Feb 11, 2014 2:42 pm

Thank you ... the thing that bugs me here is that the stated purpose of the auctions was always that of a monetary tool to be used by the CBI to control the value of the dinar not a mechanism to provide foreign currency. I do not see them turning that over to the banks. However, if by open market that are talking about allowing the dinar to float, that could be a good thing.

by **RoyBoy** Tue Feb 11, 2014 2:49 pm

Well, Kap has been no hipe and always grounded . I have never once , EVER heard Kap spread BS. I have known Kaperoni for a number of years from at least 3 different sites. This is going on year 3 for DAs team. I have not been to DA to make sure the words above are in context of his actual words he has posted . So many times people will only post a short clip of his posting or even edit it. If whats here is the real posting then Kap is very excited, something we don't see very often.

by **Ponee** Tue Feb 11, 2014 2:51 pm

Real posting, but probably abbreviated since it came from dinarguru

by **Kevind53** Tue Feb 11, 2014 5:03 pm

Not sayin it's hype, just that it does not make sense to me ...

by **RoyBoy** Tue Feb 11, 2014 5:05 pm

Kevin; Half the time we can't even be-leave what Iraq puts out in their media lol

by **Kevind53** Tue Feb 11, 2014 5:11 pm

True, but I was asked what I thought and I think it does not make sense ... as stated here, it just does not fit with what we know.

by Guest Tue Feb 11, 2014 7:24 pm

Oh Give the Guy (Kap) a break !
This was his ala Millionday moment !!

WHOOOOPPPP !

Go for it KAP : WHHHHOOOOOPPPP !!

by NewtaRado Tue Feb 11, 2014 7:31 pm

Thanks for the input Kevin. To be honest, I'm not so well versed when it comes to finance and economic jargon. I especially have a hard time reading into the articles that have been translated over to English in this regard. Your two cents are usually more in the dollar range for me when it comes to spelling these things out. I really appreciate your honesty and the amount of research you've done to present/ debunk these posts, and with an amount of clarity for fellow dinarians like myself. Thanks a bunch!!!

by **Kevind53** Tue Feb 11, 2014 7:45 pm

Reading those damn translations are more often than not guesswork anyway. Sometimes it helps to look at different translations.

Kaperoni saying this new Open Market operation is going to fix the spread issue which will allow them to raise the value.

Kaperoni saying this new Open Market operation is going to fix the spread issue which will allow them to raise the value.

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Re: Kaperoni saying this new Open Market operation is going to fix the spread issue which will allow them to raise the value.

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Re: Kaperoni saying this new Open Market operation is going to fix the spread issue which will allow them to raise the value.

Re: Kaperoni saying this new Open Market operation is going to fix the spread issue which will allow them to raise the value.

Re: Kaperoni saying this new Open Market operation is going to fix the spread issue which will allow them to raise the value.