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Frank26: "It's a monetary financial rate for another rate that is about to follow" 12/23/20

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Post by RamblerNash Thu Dec 24, 2020 12:06 am

Frank26  

There are many layers to what's going on.  Let's start pealing them back one at a time.  First of all this is going to get rid of speculation...this is very powerful this devaluation.  It deters.  It puts off whales and sharks.  The devaluation is a one time movement for a reason.  The reason is monetary reform.  Did you notice in the last 3 days that this has come out none of the articles are saying this is permanent - This is the exchange rate forever and ever.  No...It's a monetary financial rate for another rate that is about to follow...

...IMO they are over trying to collect the 3 zero [notes]...they are determined to bing in more zeros.  You can't blame them.  The more zeros they leave out there the more money they're going to lose...this is a defensive posture of the CBI to discourage the onslaught of investors buying their currency at a program rate.  They would much rather sell it to everybody after they have changed the rate...
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Frank26: "It's a monetary financial rate for another rate that is about to follow" 12/23/20 Empty Re: Frank26: "It's a monetary financial rate for another rate that is about to follow" 12/23/20

Post by Sam I Am Thu Dec 24, 2020 5:34 am

Actually they did indicate that it's somewhat permanent. In all probability the rate will be between 1400:1 and 1500:1 a year from now.

********************

The bank justified the devaluation saying it was the product of “intense deliberations” with the prime minister, finance minister and lawmakers, and stressing the reduction in the dinar's value would be a one-time occurrence.
“It must be emphasized here that this change (reduction) in the value of the Iraqi dinar will be one-time only and will not be repeated,” the statement said. “The Central Bank will defend this price and its stability with the support of its foreign reserves,” which it maintained are still at stable levels.
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