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Enorrste feels - This is what we are looking for. ...the float WILL raise the value of the dinar
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Enorrste feels - This is what we are looking for. ...the float WILL raise the value of the dinar
Enorrste
Article: "IMF moves to help Iraq condition undergoing regulatory program"
The article is giving the opinion of a member of the CBI as well as that of the IMF. The CBI member Ismail said that the CBI believes that moving to a float would "slightly affect" the financial condition of the GOI positively while the IMF was saying that moving to a float would not positively affect government finances, in their view.
The argument from the IMF is that the vast majority of the government income is from oil revenue and is therefore from foreign countries (i.e., not in dinars).
Thus, the IMF is probably correct with respect to solving the GOI financial crisis.
However, moving to a float will have a positive economic affect in the country over the longer term.
...the Investment Law will allow foreigners to invest in Iraq with some guarantees... With the introduction of new investment from foreigners the float becomes a real possibility.
It will not only put a floor on the value of the dinar but, over time, will cause its value to rise.
This is what we are looking for. ...the float WILL raise the value of the dinar, because the float will not be possible until foreigners begin investing in Iraq.
The influx of new money will allow for a reduction in the money supply and a rise in the value of the dinar.
This benefits us, but won't affect the budget crisis much. As KAP [Guru Kaperoni] said..."a dinar is a dinar" within the country.
Ponee- Admin
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Re: Enorrste feels - This is what we are looking for. ...the float WILL raise the value of the dinar
Now, see what I'm talking about? Start with Pekaroni Kaperoni, Enorrste, and then Mailman,And lastly Poopy3, and tell me where all the conflict and confusion is- These guys don't know poop from shinola- They are all plants, just to keep everyone hyped, yet confused at the same time- What a bunch of maroons-And they are all making money, while people lose everything they have- Brilliant, freakin brilliant, 'eh?
Terbo56- VIP Member
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Age : 67
Location : Central Florida-
Re: Enorrste feels - This is what we are looking for. ...the float WILL raise the value of the dinar
He of course knows full well that's all just so much Bull$#!@ because Iraq can't even get the current REAL exchange rate on a par with the official rate! Come on people look at the news out of Iraq for the last year or so, they have tried numerous methods of attempting to get the street rate (the actual rate!) on a par with the official rate, things such as limiting the auction, etc, and the best they can do is about 1250 to 1! The best hopes for a float would be to just about maintain what they have now and the reality is it would likely plummet because people would lose even more faith in it after it lost the 1166 to 1 guarantee.
I just don't know what's so hard to understand, the value of the Dinar fell due to Saddam massively overprinting the currency leading to run-away inflation (no Bush did NOT lower the rate at the beginning of the war, that's guru bullshit!). The bottom line is the Dinar is worthless because there was so much issued for circulation causing the value to fall but now Dinarians expect that somehow the value is going to rise without reversing the overprinting that caused the problem in the first place! The value fell because too much currency was printed and the ONLY way to reverse the fall in value is to reverse the overprinted currency numbers, the problem is it's a hell of a lot easier to issue currency than it is to recall it!
This is why the dreaded LOP is the only conceivable way that value per Dinar can be increased by any significant amount, it's the way it has been historically done by other countries (because there simply is no other logical way) and is the very thing Iraq has been saying for a long time that it intends to do -eventually when everything settles down if it ever does.
I just don't know what's so hard to understand, the value of the Dinar fell due to Saddam massively overprinting the currency leading to run-away inflation (no Bush did NOT lower the rate at the beginning of the war, that's guru bullshit!). The bottom line is the Dinar is worthless because there was so much issued for circulation causing the value to fall but now Dinarians expect that somehow the value is going to rise without reversing the overprinting that caused the problem in the first place! The value fell because too much currency was printed and the ONLY way to reverse the fall in value is to reverse the overprinted currency numbers, the problem is it's a hell of a lot easier to issue currency than it is to recall it!
This is why the dreaded LOP is the only conceivable way that value per Dinar can be increased by any significant amount, it's the way it has been historically done by other countries (because there simply is no other logical way) and is the very thing Iraq has been saying for a long time that it intends to do -eventually when everything settles down if it ever does.
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