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"Nothing to Dispute" - Fri. PM KTFA Thoughts, News w/ Frank26 6/1/18

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"Nothing to Dispute" - Fri. PM KTFA Thoughts, News w/ Frank26 6/1/18

Post  Ssmith on Sat Jun 02, 2018 8:40 am

KTFA

Bluestar » June 1st, 2018


Hi Frank...I know you have always said that the monetary reform is on a different track than the GOA but isn't there a chance they will wait 10 days and declare Abadi as PM BEFORE the rate change? Bluestar

Baghdad(IraqNews.com) Iraq's High Electoral Commission said...in 10 days.
https://www.Iraqinews.com/baghdad-politics/iraqi-commission-parliament-votes-were-sound-challenges-welcome/

Frank26 » June 1st, 2018

IMO ............... THERE IS NOTHING TO DISPUTE THIS IDEA ............... NOR THE ONE THAT I ADHERE TO ............ THAT EVERYDAY HAS POTENTIAL AT THE RATE THE CBI IS TALKING RIGHT NOW......

KTFA KONA ................ I LEAVE YOU WITH THESE GREAT WORDS:

"YOU CAN COMPLAIN BECAUSE ROSES HAVE THORNS OR ...................... YOU CAN REJOICE BECAUSE THORN BUSHES HAVE .................ROSES."
ABRAHAM LINCOLN


Lexi » June 1st, 2018

When is the 30 day mark for the government to form? ( I know it may take longer than 30 but...) Was the official start date of announcement of election results around May 17? Anyone? I feel IMO this is totally necessary to have a functioning government with less corruption before we find what we seek. It makes perfect sense if every I had been dotted and T crossed at this point in the game it only makes sense that this is necessary as well imo. Wouldn’t you want a fully functioning government with a lot of the corruption weeded out before you release something on this scale? Most logical answer— yes! Imo

Hammy14: Lexi, I completely agree with your assessment with one little caveat...Iraq has a fully functioning government now. Abadi's administration is still running the show until the "new" government is announced, at which time we still expect Abadi to be at the helm for a smooth transition, but we do need this announcement, IMO. The 30 day period is mid-June, but Sadr came out last Friday and said they would announce the new government within two weeks. So, unless they backtrack on that, always a possibility, we should have that announcement within the next 7 or 8 days, IMO.

Batman80 » June 1st, 2018

This is a bit random, but wanted to share an experience my wife and I had as encouragement ... My wife is a school teacher and has been teaching for more then 10 years. She is a believer, but not so much in this investment. She is more of a wait until I see it when it comes to the Dinar and I support her decision in lack of faith over a war torn country suddenly making you rich...

I tell her just don't ask me for any when this thing pops lol!!!

Anyway, a few years ago she had a student in her 4th grade class that was from Iraq ( I believe in 2015). They came upon the subject of the Iraqi dinar (Mind you this is a 9yr old boy) because my wife had asked him if he had any dinars?

The boy (don't recall his name) said " Yes! I have some, but my father has millions! " " You need to hold onto this money because you WILL BE RICH!!! " "We are all going to be very rich!!! "

Again my wife is skeptical and didn't really want me spending any money in this investment at that particular time (Even though I had already spent quite a bit), but that young boy woke her up to the possibility that this could be a reality some day... He knew about the investment and didn't hesitate to show his enthusiasm for our speculation in this investment.

I remember her calling me after school with some excitement in her voice " Babe, guess what? One of my students has some Iraqi dinars and said we are ALL GOING TO BE RICH!!!"

Me being the joker that I am said, "I've been telling you that for years ( since 2006, we got married in 2007)!!!... SO I get it, you'll listen to your students, but not your husband "(lol)

I wonder now since it seems like we're pretty close to the finish line, what HE would say with all of the news going on???

I think about Delta's post from the other day about the "PROMISE" of information that hadn't been shared just yet... I've been looking over a lot of articles from Samson & Don961 posts and some others... Definitely got some excitement in the air...

SO reason for my post, last night my wife asked me "Are we rich yet?" "I told her not just yet, but WAR"... Alot of W.A.R articles...

"W.A.R.???" she replied

Yeah, “WE ARE READY!!!!” ​

Samson » June 1st, 2018

Zimbabwe : ‘Adopting Chinese currency makes sense’


30th May, 2018 by Tawanda Musarurwa Senior Reporter

Zimbabwean companies can work with Chinese banks to boost renmimbi reserves

The adoption of renmimbi/yuan as a reserve currency, will help the country repay loans and grants from China, the Reserve Bank of Zimbabwe has said.

Zimbabwe and China have strong bilateral relations, with the latter having extended billions of dollars in loans and grants to the former. The official figures show that in 2016 trade between the two countries amounted to $1,24 billion. RBZ Governor Dr John Mangudya, said the growing significance of China as an economic powerhouse, necessitates countries such as Zimbabwe to seriously consider using the renmimbi as a reserve currency. Since the adoption of multiple currencies in 2009, the renmimbi was part of the currency basket but Zimbabwe has been using the United States dollar as a reserve currency.

The bulk of reserves for most countries in the region are also invested in United States dollars. Their composition through, has not kept pace with large shifts in the world economy. I have been following global discussions on the use of the renmimbi as a reserve currency. China and India continue to shape global trends particularly as they remain major trade partners for the region.

“Most countries represented here either have loans or grants from China and it would only make economic sense to repay in renmimbi. This is the reason why it is critical for policy makers to strategise on progress that the continent has made to embrace the Chinese renmimbi, which we all know has become what may be termed ‘common currency’ in their trade with Africa,” said the governor.

Dr Mangudya was officially opening the 2018 MEFMI Region Deputy Governors and Deputy Permanent Secretaries Forum in Harare yesterday in a speech read on his behalf by RBZ deputy governor Dr Kupukile Mlambo.

MEFMI is the Macroeconomic and Financial Management Institute of Eastern and Southern Africa, whose headquarters is in Harare.

Since 2009, the People’s Bank of China (PBoC) has moved aggressively to establish bilateral swap arrangements with other central banks in order to facilitate and expand the use of the renmimbi in international trade and financial transactions.

Last year, the renmimbi become part of the International Monetary Fund’s Special Drawing Rights (SDR) basket.

Dr Mangudya intimated that the use of the renmimbi as a reserve currency may have broader positive outcomes for central banks.

The magnitude and management of reserves can have profound effect on markets and central bank balance sheets. Reserves managers face important decisions on their asset allocations, including currency composition and asset classes, to ensure that the reserves meet the key goals of safety, liquidity and return,” he said.

“I am aware that in most MEFMI member countries, the size of the preferred habitat of reserves and short-term government debt has not kept pace with the increase in reserves. This can have profound effects on interest rates on the one hand, and on the other hand on decisions of reserve managers who have to move outside the preferred habitat, with all the attendant potential consequences on the balance sheets of central banks.”

Zimbabwe has been using the multiple currency system, which was adopted in 2009, but this has been accompanied by persistent liquidity challenges, which have had debilitating effects on efforts to steer the economy on a sustainable growth path. Some observers say increased use of the Chinese currency can help prevent the effects of the present liquidity crunch that is negatively affecting business. LINK

Surging Dollar Pressures Some Emerging Economies

31st May, 2018

The strengthening of the dollar amid the US Federal Reserve interest rate hikes has sharpened pressure on some emerging economies as investors steer funds to the United States. Funds dedicated to emerging economy equity and debt saw withdrawals of $569 million and $253 million during the week of May 23, according to data firm EPFR Global. That is on top of the $1.6 billion and $2.1 billion taken from the same funds during the week ending May 9, AFP reported.

"The primary explanation for these capital outflows comes from the rising dollar," said Eric Viloria, a strategist at Wells Fargo. Higher US interest rates have prompted investors to rethink investments in smaller economies. "You do not feel the urge to invest in emerging markets when investing in much lower-risk US assets offers you higher returns," said Chris Low, chief economist at FTN Financial. The trend marks a shift from the period after the financial crisis when low interest rates in the US gave incentive to investors to seek higher yield overseas, especially in emerging economies. Argentina, Turkey Suffer

The yield on the 10-year US Treasury is back up at around 3% after hitting an all-time low in July 2016 of 1.3%. The biggest losers from the current dynamic have been Argentina and Turkey, according to the Institute of International Finance. Those two countries have lost 22 and 19% of the value of their currencies since the start of April. These countries have responded by sharply increasing interest rates, a move not without risk to their own economies. Argentina's central bank lifted the rate of a key lending rate to 40% as it has sought loans from the International Monetary Fund.

Turkey's central bank last Wednesday boosted its lending rate from 13.5% to 16.5% despite a push from President Recep Tayyip Erdogan, who has sought low rates to boost growth. The sharp fall in the currencies' value has come as Turkey heads to June 24 presidential and parliamentary elections where Erdogan is seeking a new mandate and a thumping parliamentary majority.

"Turkey is burdened by a large current account deficit, foreign currency denominated debt more than three times larger than its foreign exchange reserves, and double-digit inflation," said Low of FTN Financial. Turkey has "country-specific" challenges that preceded the dollar's rally, said Andres Abadia, senior international economist, PantheonMacro. Argentina too has suffered from annual inflation of more than 20% and large trade and budget deficits. The country also remembers well the painful crisis that led to a debt default in 2001.

According to a recent note by Oxford Economics, more than half the movement of the Argentine and Turkish currencies is due to elevated risk in those countries. By contrast, other emerging economies, including Russia, Poland and Malaysia have seen their currencies fall less precipitously against the dollar because their economies are in better shape.

Why Are EMs Suffering?

The easy answer is that money is fickle and opportunistic—it goes where it can get the highest return, flowing out of countries as fast as it flows in, Bloomberg reported. This latest upheaval started when the US, Japan and Europe kept interest rates close to, or below, zero to help their stagnant economies recover from the 2008 financial crisis. That made returns on stocks and bonds unattractive, and drove investors to developing nations, where the risks were higher but the payoffs more inviting. Emerging markets, as a result, have enjoyed a rally in stocks, bonds and currencies.

But the reverse is now happening as investors react to several signals from the US—faster growth, rising interest rates and a stronger dollar. All three indicate potentially higher returns on US investments and thus act as a magnet for money. They also undermine the attraction of riskier emerging markets. The turmoil in Turkey has especially rattled investors.

What Caused Asia Crisis ? It started when a real-estate bubble burst in Thailand, which undermined confidence in the economy, causing foreign investors to sell the currency and withdraw from the stock market. The crisis spread to the banks, and then across much of East Asia.

Many of the afflicted economies had strong growth records that masked weaknesses like nonperforming bank loans, heavy foreign borrowing and rising trade deficits. Because their currencies were pegged to the dollar, South Korea and other nations were forced to spend billions trying to fend off speculators who were selling their currencies.

They soon ran out of dollars and had to give up the peg and devalue their currencies. The contagion spread when foreign investors pulled back from other countries in the region seen as having similar problems. Several ended up seeking bailouts from the International Monetary Fund. LINK
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Re: "Nothing to Dispute" - Fri. PM KTFA Thoughts, News w/ Frank26 6/1/18

Post  Mission1st on Sun Jun 03, 2018 2:31 pm


Scumbag Frank
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Re: "Nothing to Dispute" - Fri. PM KTFA Thoughts, News w/ Frank26 6/1/18

Post  Ethel Biscuit on Sun Jun 03, 2018 2:58 pm

Yep, makes a lot of sense. I ALWAYS listen to 9 year old children for my investment advice.


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Re: "Nothing to Dispute" - Fri. PM KTFA Thoughts, News w/ Frank26 6/1/18

Post  Jayzze on Sun Jun 03, 2018 5:11 pm

only thing to dispute is fact from fiction
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