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Kaperoni - says if they trained over 500 here they are preparing for significant activities sooner than later
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Kaperoni - says if they trained over 500 here they are preparing for significant activities sooner than later
Kaperoni
I think many in and out of Iraq believe the dinar is under valued. We have even heard "grossly under valued" before in statements.
The fact is, the CBI is and must follow the directives of the IMF. No if's, and's about it. We cannot pick and choose what we read in IMF documents, if we believe the IMF, we must accept it all.
Therefore, we see the CBI following the directives, attempting to remove restrictions (ie. the spread), rebuilding the banking system, removing restrictions on foreign exchange, cracking down on corruption and money laundering all in an attempt to prepare for Article VIII and freedom of movement of capital in and out of Iraq.
Let it come to us.
04.01.2017
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Article: "Association of private banks succeed train 521 bank during the first quarter" Quote: "private banks are very keen on training working on the latest technology used by international banks in order to provide better services to citizens and enhance confidence in banks."
If the private banks are going to be involved with investment and engaged with the global banking system, they need to be trained.
Clearly if they trained over 500 here they are preparing for significant activities sooner than later.
Article: "Abadi calls during a meeting with Secretary of the United Nations to remove Iraq from Chapter VII" Quote: "{Baghdad} Euphrates News called on Prime Minister Haider al-Abadi to remove Iraq from Chapter VII to end the occupation of Kuwait and file resolutions imposed on the people of Iraq because of Saddam's regime policies."
This is important and will motivate them to get the dinar engaged with the global financial system.
03.31.2017
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Article: "Iraq’s Current Economic Outlook And How it Can Affect Dinar Value"
Quote: "With the economic boom led by Iraq’s oil industry, the national currency in the form of the Dinar will eventually rise to reflect the true value of the country’s oil wealth. The rise will most likely happen when the National Bank of Iraq lifts the artificially low value placed on the nation’s currency in 2003."
The problem with that statement is the dinar is not artificially low. It reflects the current exchange rate based on the current conditions. Remember, Shabibi raised the value already from about 3000 / $1 to 1186 /$1 back in 2004-2005 to reduce inflation.
Until the market economy takes off, IMO we will not the dinar rise the remainder of the way. To me, making such a statement as "artificially low value"...shows a lack of understanding...
3-30-2017
Last edited by Ponee on Sat Apr 01, 2017 6:09 pm; edited 4 times in total
Ponee- Admin
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Re: Kaperoni - says if they trained over 500 here they are preparing for significant activities sooner than later
Glad to see Kaperoni has been reading some of my analysis. He's right that the value is not "artificially low", and he's right about Shabibi raising the value to reduce inflation. But he's wrong about Shabibi raising the value from 3000:1 to 1186:1 in 2004-2005. The 3000:1 rate was the market value of the old Saddam dinar. When the CPA (Coalition Provisional Authority) set up the changeover from the Saddam dinar to the IQD in late 2003, they set the value at around 1600:1. Because the new dinar was so well received at first by the Iraqis, it quickly appreciated to about 1500:1 in early 2004 before the CPA removed some USD from the market to stabilize it. From there Shabibi took it to 1170:1 via the crawling peg strategy from Nov. 1, 2006 to Jan. 1, 2009 to bring inflation down.
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Busting Gurus Since 2011
Re: Kaperoni - says if they trained over 500 here they are preparing for significant activities sooner than later
SamIAm, please archive this, as it will be of great use down the road for those who want to learn, and understand it-Thank you! :yes: :tup:
Terbo56- VIP Member
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Age : 67
Location : Central Florida-
Re: Kaperoni - says if they trained over 500 here they are preparing for significant activities sooner than later
Terbo, it's all archived at Iraq Currency Watch, and in my noggin. One more comment, however. Since Kaperoni is such a stickler for IMF documents, let me remind everybody that the IMF said that the CBI's policy is exchange rate stability. Not much profit to be made when the policy is to keep the value about where it is.
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Busting Gurus Since 2011
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