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 Kaperoni --The CBI can never revalue for the simple reason there is over 40 trillion dinar in circulation

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Join date : 2015-04-20

PostSubject: Kaperoni --The CBI can never revalue for the simple reason there is over 40 trillion dinar in circulation   Thu Sep 07, 2017 11:05 pm


 1. The CBI can never revalue for the simple reason there is over 40 trillion dinar in circulation (over 3 times the worlds money supply) which would instantly bankrupt the country, 

 2. floating the dinar is the replacement for the daily currency auctions in which the CBI profits. 

If they were to revalue, they would be short changing themselves on the commissions they can make as the dinar appreciates, and 

3. nobody would "buy" it up.  

You cannot buy what does not exist. A float is just like any other country who floats and you can see in those models, nobody is buying up those currencies beyond the international financial environment. The CBI does expect and want it's currency to traded through the global financial system as well as the markets.

 Though there has been comments published in the past about a 1 to $1 rate, it was never stated it would occur overnight. In fact, it simply cant.  

And finally...some claim that Iraq needs to get rid of the dollar in Iraq. That will never happen. 

Countries like Iraq sell oil for dollar and store dollars as reserves. They will always have dollars. What they need to do is reduce the spread before the Official Rate of the dinar and the Market Rate of the dinar within 2% (about 1200 to $1) to meet compliance. In doing so, this will allow them to accept Article VIII of the IMF, and reduce what is termed.."multiple currency practice" which is a reference to pricing of goods at two different rates within the same country as the result of the countries currency exceeding the allowed spread. 

It has nothing to do with the dollar. The dollar will always be in Iraq. They hope is that once the dinar is worth more, or has a value that exceeds the dollar, citizens would desire it over the dollar. In doing so, the dollar would of course be less prevalent.

 But that is not a requirement or condition set forth by the IMF.  



"The CBI has also requested the technical assistance of the IMF Legal and Monetary and Capital Markets Department to analyze the reasons behind the rise of the exchange rate spread"  ...in the last Article IV dated last month, the CBI had requested the UST and the IMF to help them get in compliance...that gives me hope they can get in compliance... and once they do, they will accept Article VIII, which will open the banking system to the world, allowing international investment, etc.  So if that occurs, we may see such an effect by end of year.  I do believe it is well documented that the world wants to come to Iraq and invest.  If, Iraq could ever set the stage, by that meaning pass the laws, get the banking system in order, they have the potential for billions of dollars in private investment.  So hang in there
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PostSubject: Re: Kaperoni --The CBI can never revalue for the simple reason there is over 40 trillion dinar in circulation   Thu Sep 07, 2017 11:16 pm

Kap seems to forget about the mines left by ISIS that keep going off and the almost daily bombings in the capitol city.

This has some investors concerned. Lose a little money or lose a leg placing the cornerstone down for the new buildings...
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Kaperoni --The CBI can never revalue for the simple reason there is over 40 trillion dinar in circulation
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