CBI: Pulling Dinar off the Street INCREASING SUPPLY OF US DOLLARS

Iraq Has Cash Reserves to Fight Dinar Depreciation
Posted on 11 April 2012


The finance committee in the Iraqi Council of Representatives warned on Wednesday about the deterioration of the Iraqi economy due to the low exchange rate of the dinar to the US dollar, assuring that proposals are underway to get the country back on its feet, reports AKnews.

According to AKnews, the Iraqi dinar hit its lowest exchange rate in three years against the US dollar, at a selling rate of 1290 dinars per dol lar on Tuesday. On the othe hand, some online sources still show it trading in the range 1160 to 1165.

Committee member Shawrash Mustafa said the committee began to study the deterioration of the Iraqi dinar exchange rate and put in place several proposals to halt the crisis. He did not say what these proposals were, but that they will be delivered to the Ministry of Finance and Iraqi Central Bank (ICB).

The ICB has issued strict regulations on its sale of dollars, due to restrictions on trade with both Iran and Syria.

Azzaman reports that the dinar’s depreciation has prompted the Central Bank to intervene by increasing supply of dollars and withdrawing dinars from the market. The operation is supported by estimated foreign currency reserves of $62 billion, which Central Bank Deputy Governor Mudher Saleh said is sufficient to cover 120% of the value of local currency in circulation at current exchange rate.

http://www.iraq-businessnews.com/2012/04/11/iraq-has-cash-reserves-to-fight-dinar-depreciation/

I thought we wanted the dollar to be pulled, NOT the dinar

Thanks Kai, Some will see this as a bad thing but in essence if one thinks about it...Put U S D back on the streets and pull in more dinar there will be less of those large notes to cash in for the Iraqi's later when the RV hits. This along with lots of other news stories sure does appear that RV is no it's way to us all.

rick152 wrote:Thanks Kai, Some will see this as a bad thing but in essence if one thinks about it...Put U S D back on the streets and pull in more dinar there will be less of those large notes to cash in for the Iraqi's later when the RV hits. This along with lots of other news stories sure does appear that RV is no it's way to us all.

I see your point... come rv :happyjoy:

CBI and Forex are still showing a rate of 1161 ... can you spell manipulation? I knew you could .... It sure looks like someone is playing games with the exchange rate inside Iraq ... might be setting the stage ... but no way to know for sure with this bunch. :evil: :shock:

Something is going on...as if 'change' is coming

Good evening Punisher -

I see Shabibi's brilliant wisdom shining through in this.

*Pull as many large and old Dinar out of circulation in-country.

*Substitute temporarily with the currency (USD) Iraqis have become accustomed to for decades.

*Sweeten the pot by increased value to "encourage" participation (aka create excitement and buy-in, a general rule in marketing) watch people stampede to the banks and money changers.

*With that effective tactic completed, (two to three days?) I expect to see an announcement that the Iraqi people are wealthy and Iraq can support a strong Dinar - and the RV reveal.

*BINGO: National wealth, pride, new jobs, a strong economy, and extremely elevated world financial status.

*Bye bye Chapter 7; welcome to the WTO.

It' so close we are wearing it.

Breathe, Punisher, breathe...then a quick happy dance



Sweet.

KAI wrote:Good evening Punisher -

I see Shabibi's brilliant wisdom shining through in this.

*Pull as many large and old Dinar out of circulation in-country.

*Substitute temporarily with the currency (USD) Iraqis have become accustomed to for decades.

*Sweeten the pot by increased value to "encourage" participation (aka create excitement, a general rule in marketing) watch people stampede to the banks and money changers.

*With that effective tactic completed, (two to three days?) I expect to see an announcement that the Iraqi people are wealthy and Iraq can support a strong Dinar - and the RV reveal.

*BINGO: National wealth, pride, new jobs, a strong economy, and extremely elevated world financial status.

*Bye bye Chapter 7; welcome to the WTO.

It' so close we are wearing it.

Breathe, Punisher, breathe...then a quick happy dance



Sweet.

I think KAI is really SHABIBI telling us his plan...if that is true then thank you Dr. SHABIBI...that sounds like a brilliant plan indeed :happyjoy:

I love this plan, Kai.

Sounds great!

Like something Dr. Shabibi would do.

OK punisher this widget(s) for you and your happy dance







I know how much you like these little guys. LOL

rick152 wrote:OK punisher this widget(s) for you and your happy dance







I know how much you like these little guys. LOL

Rick, I see those little guys trapped in that box below and they need to express themselves especially since the rv is so close... :cheers:

:happyjoy:

I thought we were told that the RV already happened in Iraq???
And that the LD's were being used as well?
I am confused at this point

SpecialAgentGibbs wrote:I thought we were told that the RV already happened in Iraq???
And that the LD's were being used as well?
I am confused at this point

If it's not on the C.B.I....it has NOT happened!

It has not RV'ed in Iraq. It will take about two seconds when the lower denoms are out for somebody with an iphone on the ground to get a pic on the internet so I don't think anybody will be speculating. It will be confirmed (as in actual proof) within a very short time.

However, until the HCL gets passed, there isn't any reason to RV. Kurdistan would have enough money to withdrawal from Iraq and it would be a mess. All this really hinges on the ability to share the wealth and until that is in writing, they aren't stupid enough to RV (unfortunately).

Hmmm, I thought Miske had posted that it did?

SpecialAgentGibbs wrote:Hmmm, I thought Miske had posted that it did?

She didn't...she will when it does

SpecialAgentGibbs wrote:I thought we were told that the RV already happened in Iraq???
And that the LD's were being used as well?
I am confused at this point

I know its rv'd in Iraq atleast 7 times that I can remember and I cashed in 7 times also! where have you guys been... you can see my profile pic right to your left how do you think I got that stack

Oh, Boy!

Cardiac99 wrote:Oh, Boy!

What do you see in your crystal ball?

My crystal ball was on the fritz the last few days. Hopin' the genie has it fixed by the time I get back from the ticker fixer (Cardiologist) this afternoon.

My previous post was in reference to clayf's comment above it.

Cardiac99 wrote:My crystal ball was on the fritz the last few days. Hopin' the genie has it fixed by the time I get back from the ticker fixer (Cardiologist) this afternoon.

My previous post was in reference to clayf's comment above it.

I thought you saw an RV in your crystal ball

Like I said, gotsta wait till I get back from the doc to talk to my genie and see if he has it fixed yet. Then we will know more. Probably be back about 1 pm central with some info. I hope to have info, anyway.

Is that the genie from Aladdin, lol.