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MIKE says - In the end, there are no shortcuts to the currency.
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MIKE says - In the end, there are no shortcuts to the currency.
mike
Article: "What does it mean to float the currency?"
They could move off the peg if they could satisfy the demand for the dollar, but they'd have to go back to selling $200 plus million a day.
The standby letters of credit is a fantasy for Iraq, I just don't see how they can do it.
Pass the long overdue banking and economic laws, empower the open market economy and then move the currency to Article VIII.
In the end, there are no shortcuts to the currency.
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Article: "House of Representatives vote on the bills and the decision to cancel the tax deduction" Looks like the tax deal is going to be an issue, Parliament wants it repealed. I think it's a lot for the people to bear but it's one of the stipulations the IMF required for the $5.3 billion dollar loan. I guess we'll have to wait and see how this turns out.
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7-28-16
"$ 2 billion in grants to the Iraqi people from Western countries" ...so far all I've seen are government solutions to Iraq's economic problems. 6 trillion dinar economic stimulus, bonds and loans are all socialist solutions. Throwing money at the problem won't fix it. Enforce corruption laws, open up the economy with banking and economic legislation and empower the people's currency, right now it's a good ole boys network where only the rich get richer. Giving these guys $2 billion dollars doesn't fix the problem, it just encourages bad behavior and decision making.
...the time for real action and political will is now, no more excuses.
IMO.
Article: "What does it mean to float the currency?"
Quote: "Floating currency is to make this exchange currency rate editor in full, so that the government or the central bank does not intervene in determined directly.
But it is automatically excreted in the currency market by supply and demand mechanism that allows for the identification of the national currency exchange rate against foreign currencies." ...there are many who want the dinar to float, before they accept Article VIII and fix the currency.
If they unpegged now, the rate would almost certainly drop to 1400-$1 or so and make things considerably cheaper for the government. Fortunately, the IMF has told them not to unpeg, the currency needs the relative stability the peg provides.
While it's not the answer to the MCP, it does help.
7-27-16
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Like Kap [Guru Kaperoni] said...at least there's still a plan. There's been many times I've been called negative but it's more pragmatic than anything else, I don't get emotionally involved with any of the investments I'm in, it takes away from the objectivity.
Bottom line, if the dinar goes to a quarter, I've made a 25,000% profit, which ain't too shabby.
But to act like everything's hunky dory over there is disingenuous.
Last edited by Ponee on Mon Aug 01, 2016 12:21 pm; edited 2 times in total
Ponee- Admin
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Re: MIKE says - In the end, there are no shortcuts to the currency.
But to act like everything's hunky dory over there is disingenuous.
I'll agree with that ....
*****************
Trust but Verify --- R Reagan
"Rejoice always, pray without ceasing, in everything give thanks; for this is the will of God in Christ Jesus for you."1 Thessalonians 5:14–18
Kevind53- Super Moderator
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Re: MIKE says - In the end, there are no shortcuts to the currency.
and waiting, and waiting and .....
*****************
Trust but Verify --- R Reagan
"Rejoice always, pray without ceasing, in everything give thanks; for this is the will of God in Christ Jesus for you."1 Thessalonians 5:14–18
Kevind53- Super Moderator
- Posts : 27254
Join date : 2011-08-09
Age : 24
Location : Umm right here!
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