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» I am too pretty for math, but....
IF I AM BRAND NEW TO THE DINAR WORLD... I_icon_minitimeWed Jun 12, 2024 6:56 pm by Mission1st

» Interesting article
IF I AM BRAND NEW TO THE DINAR WORLD... I_icon_minitimeWed Jun 12, 2024 6:34 pm by Mission1st

» Phony Tony: New Platform, same old song and dance
IF I AM BRAND NEW TO THE DINAR WORLD... I_icon_minitimeWed Jun 12, 2024 6:32 pm by Mission1st

» The Craziness of Scam by "Tony TNT Renfrow" and the Iraqi Dinar Currency Scam
IF I AM BRAND NEW TO THE DINAR WORLD... I_icon_minitimeTue Jun 11, 2024 12:26 pm by Mission1st

» Even conspiratorial currency speculators aren’t buying a Russian ruble revalue - It’s not the next the Iraqi dinar
IF I AM BRAND NEW TO THE DINAR WORLD... I_icon_minitimeMon Jun 10, 2024 1:04 pm by RamblerNash

» Go Russia
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» The Fundamentals of Finance and Pimpy Live
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» Carnival Rides
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» Go Russia
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» Textbook Tony
IF I AM BRAND NEW TO THE DINAR WORLD... I_icon_minitimeMon Apr 29, 2024 4:13 pm by Mission1st

» The Rockefellers and the controllers are freaking out right about now
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» Phony Tony sez: Full Steam Ahead!
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» Dave Schmidt - Zim Notes for Purchase (NOT PHYSICAL NOTES)
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» Russia aren't taking any prisoners
IF I AM BRAND NEW TO THE DINAR WORLD... I_icon_minitimeFri Apr 05, 2024 6:48 pm by kenlej

» Deadly stampede could affect Iraq’s World Cup hopes 1/19/23
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» ZIGPLACE
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» CBD Vape Cartridges
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» Classic Tony is back
IF I AM BRAND NEW TO THE DINAR WORLD... I_icon_minitimeTue Mar 05, 2024 2:53 pm by Mission1st

» THE MUSINGS OF A MADMAN
IF I AM BRAND NEW TO THE DINAR WORLD... I_icon_minitimeMon Mar 04, 2024 11:40 am by Arendac

»  Minister of Transport: We do not have authority over any airport in Iraq
IF I AM BRAND NEW TO THE DINAR WORLD... I_icon_minitimeMon Mar 04, 2024 11:40 am by Verina

IF I AM BRAND NEW TO THE DINAR WORLD...

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Post by openmind Fri Oct 07, 2011 2:36 am

LETS SAY IM NEW TO THIS AND HAVEN'T A CLUE ABOUT INVESTING OR THE DINAR OR IRAQ. HOWEVER, SINCE IM IN FINANCIAL TROUBLE, MY FRIEND TELLS ME TO BUY DINAR.

WHAT IF ANYTHING WOULD YOU TELL ME IS PROOF THAT THE IRAQI DINAR WILL REVALUE OR ATLEAST REINSTATE TO ITS PRE-PERSIAN GULF WAR LEVELS?

I HAVE BEEN MANY FORUMS WHERE THEY SAY THE IMF SAID THIS RATE AND SHABIBI SAID THIS RATE.

IM NOT INTERESTED IN THE DATE OR EVEN THE RATE.

WHO SAID THE DINAR WILL RV?

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RON PAUL 2012


"People want to see real hope restored, not false hope hyped up!" ---Me

"I either want less corruption, or more chance to participate in it."---Dinar Pumpers
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Post by ADMIN Fri Oct 07, 2011 7:42 am

I would send them the link to the feasibility study at the Iraqi Ministry of Planning:

The Exchange Rate of Foreign Currency in Economic Feasibility Studies

Below are the central controls related to the exchange rate of the foreign currency to convert the project inputs and outputs from foreign currency to its equivalent in the local currency, and that is by calculating the net discounted present value standard and the internal return on investments in economic analysis that governs investment projects that costs excess one million dinars.

Estimate the shadow price of foreign currency:

1. It is necessary to put central controls to amend the official exchange rate * to reflect the shadow price of the foreign currency, and that is considered one of the necessary requirements to implement the net discounted present value standard and the internal return rate on investment in the economic calculation stated in the instructions, paragraph nine.

The central controls for adjusting market prices distinguished a group of outputs and inputs traded internationally, where the projects production or usage of them is reflected on the abundance of foreign currency in the economy and thus project outputs or inputs used of such are considered purely foreign currency outputs or inputs.



* What is meant by exchange rate: the number of units of foreign currency, expressed in dollar per one dinar.
In particular the following outputs and inputs of foreign currency were distinguished:


· Export-outputs.
· Outputs marketed locally that substitute imports.
· Imported inputs.
· Inputs produced locally that usually go to exports.
· Foreign labor.

According to the pricing rules the value of the output and input (traded) is calculated using export prices (FOB) and import prices (CIF), according to what is listed in the pricing rules.

In other words the pricing rules calculate what the project produces from foreign currency (quantity of exports multiplied by the export price (FOB) in foreign currency or the quantity of substitute imports multiplied by the import price (CIF) in foreign currency, as well as what the project uses from foreign currency and imported inputs multiplied by the import price (CIF) in foreign currency .... etc.).
In a later step, project outputs and inputs must be converted from the foreign currency to its equivalent in local currency (dinars) by using a specific exchange rate for the foreign currency.


2. Justifications for exchange-rate adjustment: there are a number of important and powerful arguments which support the view that the official exchange rate reduces the real value of foreign currency for purposes of calculating the economic national profitability for investment projects and hence for the purposes of investment planning. It is demonstrated in this context to call for assessing the dinar for less than (3.208) dollar (official exchange rate) when assessing project outputs and inputs of traded goods of exports, substitute imports and imports... etc.

The justifications to call for the use of an exchange rate that is lower than the official exchange rate are:

· The use of an exchange rate that is lower than the official rate is the appropriate action at the investment planning level to translate the country’s economic strategy aiming at stimulating central investments in the sectors that encourage the development of non-oil exports, as well as sectors that encourage the expansion of domestic production base in order to reduce imports and compensate it with local commodities. This helps to reduce reliance on foreign exchange earnings from crude oil exports and increases the share of non-oil sectors in the local production.

· The application of the amended exchange rate on project imported inputs will assist in directing investments away from aggregated sectors dependent on imported inputs and the preference of those sectors that rely on locally produced inputs.

· The use of the amended exchange rate helps to correct the balance in favor of the traded goods sectors compared to non-traded goods.

· The real exchange rate has declined rapidly since the early seventies, through rapid rise of the level of prices and local costs which led by the steadiness of the official exchange rate to change in prices and actual local rate costs that gave an advantage for imported goods at the expense of locally produced goods, meaning that it led to deterioration of the competitiveness of alternative replacement goods and export commodities.

· This action shows that the official exchange rate overestimates the value of the dinar, compared to the foreign currency and from the promoting goods substituting imports and export commodities point of view of.

And in support to this view is the state’s utilization and in a broad approach to the customs and quantitative protection policies especially for consumer goods, as well as export subsidies that exports have through an amended export exchange rate.


3. Estimate the amended exchange rate of the Iraqi dinar to be used in technical and economical feasibility studies and for (1.134) dollar per dinar. This price should be approved for 3 years until re-appreciation by the competent authorities.

http://www.mop.gov.iq/mop/index.jsp?sid=1&id=308&pid=295&lng=en

And then we can build from there. . . This is what initially sold me in 2008 when I bought my first dinar. . .

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Post by paidinfull Fri Oct 07, 2011 7:48 am

When i grow up,i want to be an m&m.They so smart! Very Happy

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Post by ADMIN Fri Oct 07, 2011 7:52 am

When I grow up I want to be paidinfull. . . for the obvious reasons lol!

Your so funny!

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Post by justpassntime Fri Oct 07, 2011 8:07 am

When I grow up I want to be the candy wrapper...it's got everything covered.
lol!

*****************
Anything worth having is worth waiting for. Wink
If you can't laugh at yourself, you probably see no humor in anything. 🤡
Things you should never talk about on OOM, they will surely start an argument, religion, politics and the rv. Rolling Eyes

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Post by sandytob Fri Oct 07, 2011 8:12 am

This article seems to be calling for a pretty low rate.....even as low as Med predicted. Anyone have any thoughts about that?

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Post by ADMIN Fri Oct 07, 2011 8:17 am

This was just a feasibility study, that was put out several years ago. . . at that time, the did not know exactly what the price of oil would be today. . .

The budget for 2010 was based on like $70 per barrell (from memory recall but is somewhere in that area) and had to be re-figured if you recall, because Oil went through the roof the following year, so they redid the budget based on THAT rate at the time, seems to be around $90? but we know it was more than that. . .

This is because Maliki was calling for money from CBI, and Shabs said no, and that they needed to close the gap in the budget. . . didnt take long for the price of oil to go nuts. . .

ALOT has transpired since this study. . . but we know that Shabs has mentioned on several occassions bringing the dinar back to its glory day rate of around 3.22 . . .


Bottom line. . . we really dont know what it is til it hits CBI and forex . . .

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Post by raiderman Fri Oct 07, 2011 8:49 am

Someone mentioned yesterday that no RV in history has ever come out lower than the original amount at the time it was devalued. That, coupled with the facts of rising inflation, the desire to make the Iraqi currency the strongest in the ME, plans for ongoing and future capital projects, and incentives for foreign investors makes a pretty strong case that the RV will not be a low number, IMO.

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Post by Gmansaid Fri Oct 07, 2011 8:52 am

raiderman wrote:Someone mentioned yesterday that no RV in history has ever come out lower than the original amount at the time it was devalued. That, coupled with the facts of rising inflation, the desire to make the Iraqi currency the strongest in the ME, plans for ongoing and future capital projects, and incentives for foreign investors makes a pretty strong case that the RV will not be a low number, IMO.

Agreed!

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Post by openmind Fri Oct 07, 2011 5:30 pm

Wow thanks M&M, I had never seen that before.

*****************
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"People want to see real hope restored, not false hope hyped up!" ---Me

"I either want less corruption, or more chance to participate in it."---Dinar Pumpers
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Post by ClermontThinker Fri Oct 07, 2011 5:48 pm

This is a great report. In fact, this was the tipping point for me.

If you are invested in the IQD you should have already read this.

If you are considering investing in the IQD you MUST read this.

Here is the link...

http://www.mop.gov.iq/mop/index.jsp?sid=1&id=308&pid=295&lng=en

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Post by hoosierbuster Fri Oct 07, 2011 6:22 pm

You need to listen to the IQD Team calls on Sun.,Tues., Thurs 8 EST 712-569-7676....pin 219055# ...great info and balance ..... www.theiqdteam.com

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Post by ADMIN Fri Oct 07, 2011 7:53 pm

openmind wrote:Wow thanks M&M, I had never seen that before.

Your very welcome! Wink

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