[Shredd] ok, the last part there of what scooter was sayin
[player46] 2 values...
[Shredd] two values yes i was thinking the wording of the article implied that as well which, is an interesting concept and loaded
[Shredd] first of all, not a free float regime
[DogzNova] scooter said he always thought it would be some type of hybird
[Shredd] this would mean a continued managed float
[Shredd] ok, so lets think this scenario thru
[jeepguy] hybird meaning two trading at same time ?
[player46] yes please...
[DogzNova] I think so
Read More Link On Right
[Shredd] well, like this large notes with one value small, new dinar with another
[DogzNova] yes sir
[Shredd] not sure how that would work but it at least kills the lop idea
[oogie] that certainly doesn't sound like it will simplify things
[BondLady] *slap* rickey
[DogzNova] oogie thats what scooter was sayin as well
[Shredd] rickey, if it would be a lop, there would be a singular rate
[dolphinslive] but the bottom line will be?
[Shredd] not a hybrid approach
[BondLady] good thing shredd has his aluminum cap on so u couldnt read his thots rickey nanananaers
Shredd] unfortunately, we can only wait for the next revealing article but as the days go by, we get different perspectives
[Shredd] RickeyT gotta look at this in two perspectives first, the Iraqi ok?
[Shredd] they will receive purchasing power with a growing exchange rate and also, for them, they will turn in their dinar for the new, one denomination for one denomination make sense so far?
[Shredd] ok, second perspective: those outside Iraq i.e., you and I we will actually utilize the exchange rate in exchanging for our USD no increase in purchasing power, that is for the Iraqis but we of course gain the difference of what we paid for the dinar against what we can exchange it for
[jeepguy] is this the 1 to 1 ratio ----> they do not gain but we do
[Shredd] the cbi rate plus the bank spread we won't get the new dinar the iraqi people will of course
[Shredd] so to me, this is the hybrid situation that obviously exists and CAN be treated differently when it comes to rates the banks pay
[jeepguy] Shredd thanks for the break down
[Shredd] its much more complicated for the iraqi who has USD, large note dinar, bank balances, paychecks and prices for goods and supplies for us, we simply want to exchange our dinar for our USD
[Shredd] so if a continued managed float is in play at lease for while we can cash in
[RickeyT] Shredd so their rate could be a 1000 times more purchasing power, but out exchange rate could be only .....say 10 times the current value?
[Shredd] they can get away with this, but this source of the article is not the cbi, so we gotta take that into consideration
[DogzNova] Great perspective shredders !!!!
[Shredd] ty Dog - RickeyT lemme answer that in two parts
[Shredd] first, on the currency side, they will get an even value, no RV for them..........an even exchange on the currency side only
[Shredd] second, they gain the purchasing power, yes think of it this way Rickey.... say the USD went up 30 cents tomorrow you wouldnt get more cash in your account but your USD would go a lot further
[RickeyT] Shredd I understand their purchasing power
[Shredd] so long as all the pricing for goods and services, etc change and we saw this noted in one of the recent articles if you recall fair pricing will be addressed
[Shredd] that is part of the flood of communications which is part of the 000 project
[Shredd] RickeyT ok on our side.... if this hybrid approach is the case could be a different price the cbi is willing to "pay" to bring in (honor) the large note dinar and the good news is...
[Shredd] we have seen articles saying the old and new will coexist two to even ten years legal tender not like the saddam situation where the old was useless after a certain date
[Shredd] so as these articles are coming out, we are seeing more and more glimpses of the plan but we gotta take into consideration the sources MoP, MoF, CBI are the good ones
[Shredd] Yasiri: restructure the Rafidain and Rasheed includes four axes .. And will support the banking sector 20-04-2013 01:14 PM Baghdad (news) ..
According to a member of the Finance Committee MP / National Alliance / Abdul Hussain al-Yasiri, that the plan to restructure the Rafidain and Rasheed by the International Monetary Fund includes four paragraphs of major help to support and develop the banking sector in the country.
Yasiri said (of the Agency news ): The plan to restructure banks government Rafidain and Rasheed developed since (2007) and formed through a committee headed by the central bank governor and finance minister and head of the BSA, in cooperation with the International Monetary Fund.
added: that the committee began its work, but did not achieve positive results and important in then, but later formed a committee composed of general managers in banks and representatives of the Central Bank and the International Monetary Fund and began their movement in earnest for the support and development of the banking sector in the country.
explained: that the plan includes four axes including restructuring operating banks and strategic restructuring and re-evaluation of assets from cash to banks , as well as re-accounts banks and audited by the external auditor. ,
and pointed out that the government banks lack the modern technology in spite of the introduction of some technological Kalptaqh Smart and others, but it needs to techniques more to keep pace with the evolution in global banks. / End
[Shredd] ok, this part...
[Shredd] explained: that the plan includes four axes including restructuring operating banks and strategic restructuring and re-evaluation of assets from cash to banks , as well as re-accounts banks and audited by the external auditor.
[Shredd] the re-evaluation of assets is what I'll ask Scooter about and here is my thinking..... financial institutions, just like corporations have to have a certain amount of capitalization
[Shredd] and an audit or re-evaluation of these assets fits in with the work the govt banks have in front of them when the currency changes they will have to closely maintain supply
[Shredd] BondLady remember last year when we saw the article of a 10k limit on cashing out?
[BondLady] yeppers sure do we made chats about it too
[Shredd] there will be limits when the currency is changed
[BondLady] ledger an all the other gurus got that wrong but we didnt
[Shredd] when the dollar becomes weak compared to the dinar
[dolphinslive] limits for us meaning?
[Shredd] no dolphin just the iraqis
[Shredd] they don't wanna run out of the new dinar and have the iraqis stick it all in their mattresses so the smart card is key too and in the news, communicating to the people they all get the idea of credit cards they aint cavemen and the golden nugget for me in these last articles is more support for a dinar growing in value and the opportunity for us to gain