tag:blogger.com,1999:blog-5596379580203915255.post8327976429160305285..comments2023-05-16T02:24:23.898-07:00Comments on Dinar Douchebags: The Artificial Program RateUnknownnoreply@blogger.comBlogger16125tag:blogger.com,1999:blog-5596379580203915255.post-30326818918020947862013-02-04T08:45:07.404-08:002013-02-04T08:45:07.404-08:00Very nice post, I too like to share my opinion on ...Very nice post, I too like to share my opinion on the Iraqi Dinar. Don't be fulled or succeed into this currency scam. <br />http://digital-domination.blogspot.com/2013/02/iraq-dinar-good-or-bad-investment.htmlams.goldhttps://www.blogger.com/profile/14541512623401894059noreply@blogger.comtag:blogger.com,1999:blog-5596379580203915255.post-74553967896380002322012-06-25T19:00:31.539-07:002012-06-25T19:00:31.539-07:00DaveD you should call in to Phoenix show and debat...DaveD you should call in to Phoenix show and debate with him.<br /><br />Hes a wordsmith and manages to confuse many of his listeners who take his explanation as gospel and Ive never heard one person yet challenge him on his information or opinion.Anonymoushttps://www.blogger.com/profile/13661690687077566789noreply@blogger.comtag:blogger.com,1999:blog-5596379580203915255.post-63328170942562115512012-06-02T23:04:42.855-07:002012-06-02T23:04:42.855-07:00Actually, it's bad for their economy for dinar...Actually, it's bad for their economy for dinar to be taken out of country. Dinar outside of Iraq amounts to money that their economy has to support but is not being used in their economy, which is why they restricted it to begin with. That money should be circulating in commerce in Iraq but since it's all overseas it's money NOT being used to grow the domestic economy. And they have tried to deter it, aside from passing a law making it illegal to take Dinar out of Iraq, what can they do? It is true that if they reissue new currency and that currency doesn't get back it's free dollars for the CBI, which is one reason I think that they will absolutely try to make it hard to repatriate that money. A lot of people holding Dinar now in hopes of getting big rich on it are going to lose everything they have in it, cause it'll just be pretty paper some day soon. I posted here before a little story about how bad it could go for them.F8https://www.blogger.com/profile/17520770178618027577noreply@blogger.comtag:blogger.com,1999:blog-5596379580203915255.post-84506556920214892012-06-02T10:52:49.783-07:002012-06-02T10:52:49.783-07:00I can’t help but get a chuckle as I read more and ...I can’t help but get a chuckle as I read more and more articles with Iraqi officials complaining about the smuggling of currency out of Iraq. But it’s the Dollar being smuggled that’s got them all worked up. For years the dinar has been smuggled out and used as a scam to dupe people out of their money and fill the FX reserves of the Central Bank of Iraq. I can’t seem to muster up much sympathy for them considering I’m sure they have been well aware of the dinar phenomenon for years and have never once tried to deter it.DaveDhttps://www.blogger.com/profile/12051340224470148267noreply@blogger.comtag:blogger.com,1999:blog-5596379580203915255.post-4495403376627893292012-06-01T06:58:51.878-07:002012-06-01T06:58:51.878-07:00Iraq Business News... Mark DeWeaver
http://www.ir...Iraq Business News... Mark DeWeaver <br />http://www.iraq-businessnews.com/2012/05/30/dinar-move-a-plus-for-stocks/<br /><br />I wouldn't say he pimps or pumps the ISX. He does usually cover it in a positive light though.<br />http://www.iraq-businessnews.com/category/investment/mark-de-weaver/DaveDhttps://www.blogger.com/profile/12051340224470148267noreply@blogger.comtag:blogger.com,1999:blog-5596379580203915255.post-24443749580029014482012-06-01T05:49:39.687-07:002012-06-01T05:49:39.687-07:00While you’d never guess it from the market’s tepid...While you’d never guess it from the market’s tepid<br />reaction to the news, the CBI has given investors yet another reason to<br />be long the ISX.<br /><br />As if insanity or gross economic ignorance wasn't reason enough. I'm guessing the source for that quote is some blog that pimps the ISX. Iraq could explode into chaos in the next half hour, it's not a stable country and who knows if it won't turn into Iran, Cuba or North Korea in the next thirty days, or thirty minutes for that matter. Putting any money into Iraq is a wild gamble at best right now.F8https://www.blogger.com/profile/11299425862858361338noreply@blogger.comtag:blogger.com,1999:blog-5596379580203915255.post-39629128998069518082012-05-30T19:15:32.643-07:002012-05-30T19:15:32.643-07:00here's what they're posting on Okie's ...here's what they're posting on Okie's site:<br /><br /> <br /><br />--------------------------------------------------------------------------------<br /> <br />Dinar Move a Plus for Stocks<br /><br />Posted on 30 May 2012. Tags: CBI, iraqi dinar, ISX<br /><br />Last<br />week the Central Bank of Iraq (CBI) announced that it was authorizing <br />the two largest state-owned banks, Rafidain Bank and Rashid Bank, to <br />sell US dollars at auction. The CBI’s goal is to reduce the spread <br />between its own auction rate and the unofficial “street” exchange rate, <br />which has recently been as wide as seven percent. The CBI expects the <br />spread to narrow to four percent initially and eventually to reach two <br />percent as the unofficial rate strengthens. (See this story from Alsumaria and the “Economics” section of last week’s Rabee Securities Weekly Bulletin.)<br />A<br />five percent strengthening in the street rate might not sound like <br />much. But the CBI is doing more than just narrowing the spread. It is <br />also eliminating uncertainty about the future direction of the dinar by <br />signaling that no further deprecation will be tolerated.<br />This move<br />is positive for Iraqi stocks because a stronger currency will increase <br />the expected value of the IQD-denominated earnings of the listed <br />companies relative to the return on USD assets. The increased supply of<br />US dollars may also push up earnings at the listed banks by allowing <br />them to expand their offerings of USD products such as letters of <br />credit.<br />While you’d never guess it from the market’s tepid <br />reaction to the news, the CBI has given investors yet another reason to <br />be long the ISX.Anonymoushttps://www.blogger.com/profile/10613970459323313129noreply@blogger.comtag:blogger.com,1999:blog-5596379580203915255.post-32859898122378141932012-05-30T15:04:35.768-07:002012-05-30T15:04:35.768-07:00LOL!!! That, and do you really think the Iraqi ...LOL!!! That, and do you really think the Iraqi politicians would accurately report what the real rate was? No way!!The Reederhttps://www.blogger.com/profile/12670575432782210824noreply@blogger.comtag:blogger.com,1999:blog-5596379580203915255.post-48966815133009765792012-05-30T12:47:04.332-07:002012-05-30T12:47:04.332-07:00The IMF states this about Iraq's exchange rate...The IMF states this about Iraq's exchange rate.<br />IX. Exchange rate arrangement:<br />The Central Bank of Iraq has been conducting foreign exchange auction on a daily basis since October 4, 2003. The central bank followed a policy of exchange rate stability which has translated in a de facto peg of the exchange rate since early 2004. However, from November 2006 until end 2008, the CBI allowed the exchange rate to gradually appreciate. As a result, the exchange rate arrangement of Iraq was reclassified to the category of crawling peg effective November 1, 2006. Since the start of 2009, the CBI returned to its earlier policy of maintaining a stable dinar. Consequently, the exchange rate arrangement of Iraq was reclassified effective January 1 2009 as a stabilized arrangement.<br /><br />The Dinr is a pegged or crawling peg.<br />From the web:<br />A currency peg, also known as a fixed interest rate, can be set by fiat, which is to say it is simply made illegal to exchange at any other rate. More often, however, currency pegs are accompanied by a corresponding monetary policy through open market operations with reserves of the currency to which they are pegged. If there is too much of it circulating, the law of supply and demand dictates the value of the currency will decline. The supply is too great. In response, the country exchanges reserves of the peg currency for its own, which it takes off the market. If the supply is too small, the country puts new money into circulation by buying the reserve currency.<br />http://www.ehow.com/about_4675892_what-currencies-pegged-dollar.html#ixzz1wNp9q0Cm<br /><br />Iraq has been forced to buy trillions of dinar back through the auctions for years now. If they hadn't the supply would have gone out of control (as if 32 circ and 72 M2 isn't already high enough) and the real value would have sunk like a brick in water.<br /><br />So to answer you question Sam. Iraq manipulates supply and demand through the auctions to try and maintain a stable rate at the peg of 1166. They try to keep the street rate near the official rate. Lately they have not been able to do that very well and the street rate has sunk to near 1300. So currently the natural value is is less than the $.00085 rate.DaveDhttps://www.blogger.com/profile/12051340224470148267noreply@blogger.comtag:blogger.com,1999:blog-5596379580203915255.post-69601725861863083372012-05-30T12:15:06.038-07:002012-05-30T12:15:06.038-07:00F8 are you saying that Iraq's natural value is...F8 are you saying that Iraq's natural value is less than $.000857 or that the program just allows for them to do that if they wish?Sam I Amhttps://www.blogger.com/profile/11609519627791409673noreply@blogger.comtag:blogger.com,1999:blog-5596379580203915255.post-75284408372299476122012-05-30T12:01:31.143-07:002012-05-30T12:01:31.143-07:00Kinda-sort of. Iraq is operating under a policy t...Kinda-sort of. Iraq is operating under a policy that allows countries to artificially maintain their currency value ABOVE it's natural value. As someone has pointed out, the current value is actually pretty close to intrinsic value but still, the Dinar is propped up by the CBI in a way that most countries cannot do without trade restrictions being imposed. For 8 years Iraq has had permission to artificially prop up the value of the dinar to more than it would otherwise be worth.<br />And another thing, Iraq is getting closer to the Dinar fluctuating like normal currencies. The move from 1170 to 1166, is what the Dinar would do and will do when it's picked up by exchanges, if you look at pairings on the FOREX market you'll see that's about the kind of move that all currencies make pretty much everyday.F8https://www.blogger.com/profile/17520770178618027577noreply@blogger.comtag:blogger.com,1999:blog-5596379580203915255.post-19335431762506226992012-05-30T11:11:18.471-07:002012-05-30T11:11:18.471-07:00oops... here; the link for the above post.
From S...oops... here; the link for the above post.<br /><br />From Sept 7 2005… yes 2005.<br />http://www.investorsiraq.com/showthread.php?10141-Announcement-could-be-made-public-this-weekDaveDhttps://www.blogger.com/profile/12051340224470148267noreply@blogger.comtag:blogger.com,1999:blog-5596379580203915255.post-44127475383599543902012-05-30T11:08:49.370-07:002012-05-30T11:08:49.370-07:00Just a little change of subject. For some of you g...Just a little change of subject. For some of you guys who haven't been around the dinar for very long. Check this out. Someone dug up this post on IIF the other day.<br /><br />'Prior' Dinar<br />Announcement could be made public this week <br />The announcement could be made public this week. And I was told that it would most likely be done before THEIR weekend..... The rate is looking like it is around .41, but he would not tell me the exact amount. I know that they were talking about 70-1.25 USD, but I have not received any updates on that amount. That’s why I stated .41 which was the amount originally agreed upon at the G8. I was told that the "leak" from two weeks ago was the start of it, but the Aimma Bridge deaths delayed it until this week. So, we should see something this week. I know we have been down this road before, and delays do in fact happen.... let’s hope no delays are in the future. <br /><br /><br />If it weren't so sad this would be funny. For 7 years these guys have been making up RV rumors. Yet people still fall for it.<br />How about a historical Douchie for 'Prior' Dinar. Wonder who he post as today?DaveDhttps://www.blogger.com/profile/12051340224470148267noreply@blogger.comtag:blogger.com,1999:blog-5596379580203915255.post-71004169950013894172012-05-30T10:38:56.676-07:002012-05-30T10:38:56.676-07:00So in other words. It’s a very meaningless stateme...So in other words. It’s a very meaningless statement that has been twisted by douchebags to mean something it totally does not mean for the purposes of suckering people into their scam.DaveDhttps://www.blogger.com/profile/12051340224470148267noreply@blogger.comtag:blogger.com,1999:blog-5596379580203915255.post-91254941081455778402012-05-30T10:34:14.601-07:002012-05-30T10:34:14.601-07:00Sam. Here’s what I found out when I investigated “...Sam. Here’s what I found out when I investigated “Program rate”. I had seen it in print a few times and was surprised to find no real info on what it meant. Well after looking and looking I came to realize all it means is… Iraq is under an IMF program. The Stand By Arrangement. While they are under that program, the rate is referred to as the program rate. I backed that up by finding articles about other countries under IMF programs and it was the same thing. Their rates also were referred to as program rates. The program doesn’t necessarily dictate or control the rate. Proven by the fact that Iraq has changed their rate numerous times while under the program.DaveDhttps://www.blogger.com/profile/12051340224470148267noreply@blogger.comtag:blogger.com,1999:blog-5596379580203915255.post-20059946777032480162012-05-30T09:53:11.322-07:002012-05-30T09:53:11.322-07:00It's all smoke and mirrors!!!!!!!It's all smoke and mirrors!!!!!!!callingfoolsouthttps://www.blogger.com/profile/10201281885057333907noreply@blogger.com