Walkingstick: Partial halt in the movement of the Iraqi market due to the high currency exchange rates
Date Added 03/10/2016 - 12:47 Last updated 03/10/2016 - 13:55
Iraqi markets open elevated since I arrived dollar exchange rates against the Iraqi dinar
= To 127.00 against the selling price = 126.00 purchase price
This witness and Iraqi markets and Iraqi stop is unprecedented in business dealings because of the rise in the exchange rates as well as partial deductions from employees' salaries, which have caused in the Iraqi market
Frank26: BINGO!!!!! Kinda wish we were having a CC tonight to follow up on this but my day is packed.
Frank26: Yes ............. They manipulate and test their MATH within a rate. But there is so much more to it ...........
It is unprecedented for the International World and Iraq to do this together. For inside and outside of Iraq business transaction to come.
TELL ME ............... What do YOU think it means? KTFA Frank
BACKDOC: HEE HEE FRANK! THATS A REALITY CHECK ISN'T IT? HEE HEE
THEY DON'T WANT TO BE FORCED TO EXCHANGE AT THE THE OLD VALUE RATE BECAUSE THEY WILL TAKE THE HIT! OUCH!
THIS IS FUNNY! GREAT NEWS! THIS SCREAMS THE NEED TO CHANGE THE RATE! BAA HAA DOC IMO
Robdel: what exactly are they saying? Did the exchange rate go up as in our dinarian favor? Are they talking about $100 USD = 127 IQD? Thanks
Mountainman: ...........A.......NEW RATE/REALITY/......GLOBAL Ones Too.....!!!!!!!!.....Can I have One COOKIE Frank..... Frank Please....C'mon....Just ONE.....LOL
Frank26: Good answer ........ As for giving You one of MY .......... COOOOOOOOOOKIES ??? Ahhhhhhhhhhh ??? .......... Nope ................... But it sure WAS delicious .............lol
Seietheday: personally Frank, i believe it is a dry run, a BETA test etc. This good stuff. Everyone working together. Similar to what you had to do before this AWESOME website was launched.
just me thinking out loud.
Frank26: Now THAT'S a good example.Like launching The Space Shuttle ........... ALL must be in agreement to Launch. KTFA Frank
BACKDOC: POSSIBLY THEY CONTINUE TO TRADE IN COUNTRY FOR NOW NORMALLY BUT THE PARTIAL HALT MAY BE COMING FROM THE INTERNATIONAL SIDE OF BUSINESS.
WHY? BECAUSE THEIRIN LIES THE RUB! AHH JUST A SMALL DETAIL, AN EXCHANGE RATE PROBLEM BASED ON VALUE!
UNTIL THEY IMPLEMENT A RATE CHANGE IT WOULD BE FINANCIAL SUICIDE TO MAKE THE EXCHANGE! HEE HEE SO WE WAIT FOR THAT IMPLEMENTATION DAY VERY SOON! HEE HEE
THE BONDS MAY BE SUCKED UP BY COUNTRIES IN THE SDR LIKE JAPAN WHO ARE IN SEVERE NEED OF DEBT REDUCTION WHICH THESE BONDS MAY HELP DO!
REMEMBER, THEY WOULD BE HAPPY TO BUY THEM WITHOUT AN OFFICIAL RATE CHANGE FIRST, IN FACT MAYBE THE CARROT WILL BE RATIFYING TPP IN RETURN! HEE HEE
JUST SOME CRAZY THOUGHTS FROM DING DONG DOC IMO
Avatar: They are starting the process in country by only dropping 1 zero to get people into the bank. 2 more zeros will be dropped when they go international in the coming days....
Walkingstick: Iraq's central bank sells first local bonds to public since 2003
Thu Mar 10, 2016 7:38am EST
Iraq's central bank said it plans to sell 1.5 trillion Iraqi dinars ($1.27 billion) in two-year government bonds, as part of an effort to plug a deficit caused by tumbling oil prices and the costs of fighting an Islamic State insurgency.
It will be the first such sale to the public since 2003, when Saddam Hussein's regime was overthrown, and is the first tranche of a 5 trillion-dinar bond plan announced in January, central bank media relations official, Acer Jabbar, said.
Iraq already issues Treasury bills to domestic banks and has international bonds outstanding.
The new issue, carrying a 6-percent interest rate, will be sold between March 15 and April 15 to the public and to local lenders, an emailed statement from the bank said. ($1 = 1,178.0000 Iraqi dinars) (Reporting by Saif Hameed; Writing by Maher Chmaytelli; Editing by Louise Ireland)
Frank26: It hasn't even been 24 hours since i SHARED on Your CC last night that ....... "if they do not synchronize the new math with these National Bonds then once again for a third attempt .............. It will simply be a NATIONAL DISASTER with the CITIZENS as they will refuse it and keep their 000's under their camels........ They can be MORE stubborn than you Iraq !" KTFA Frank
Avatar: Here is what I'm thinkng I know we think they need that new rate for those bonds to be successful but if they plan on launch at the 15th Frank also says I-teams believe we won't see anything till we see Mosul and that's at least 3wks away soo.. I'm thinking the two don't go together so Frank are you thinking they sell the bonds privately at the new rate and continue to hide the new rate from us because that's the only way I can see it? Please help me understand thanks!
In my opinion this also could be done to help the banks become BASEL III compliant so they have the needed assets/reserves. If your an IRAQI citizen and you deposit a 25K note in the bank today vs. in the future it is no different today vs. in the future as in the future it will simply have more buying power....This is much better than the alternative of trading your 25K note in today for US dollars at a rate of 1182 and getting $21.15 in USD in return.
Walkingstick: Finance Committee: Iraq's foreign debt doubled and will not be able repay
BAGHDAD / JD / .. parliamentary Finance Committee announced that Iraq earlier foreign debt doubled because of interest arising from the proportion of them, noting that Iraq's debt last year amounted to more than $ 30 billion, while confirming the inability of the Iraqi government to pay those debts at the moment.
A member of the committee MP Ahmed Sarhan told / KD /: that Iraq has agreements with some international banks and global states to give him a conditional financial loans and financial benefits of doubling annually in the event of non-payment.
He added that Iraq's debt for 2015 amounted to more than $ 30 billion, indicating that those debts have doubled because of interest rates resulting from the Federal Government will not be able would you give for the time being owing to financial constraints.
The member of the Finance Committee on the government to activate the diplomatic effort to extinguish some of the external debt as a burden the state and threaten Iraq's economic future. / End / 8 /
Frank26: Because there is NO MORE CHARITY .............. Raise the value of Your currency and pay Your own &%$#@ BILLS !!!
Samson: Backdoc : with the Australian currency being a commodity backed currency but also a fiat currency is that a different scenario to the United States ? I am referring to your post that said :
WE HAVE GREAT CONCERN ON HOW WE TRANSITION FROM THE FIAT CURRENCY WORLD INTO THE "GLOBAL NEW REALITY"!
IT COULD BE FINANCIALLY LETHAL FOR OUR FUTURES, BY EXCHANGING OUR 25% GOLD ASSET BACKED DINAR INTO FIAT DOLLARS! I'M TRYING TO HELP YOU UNDERSTAND THAT FIAT COMPARED TO ASSET BACKED MAY CAUSE A BLACK SWAN EVENT SOMETIME IN JUNE TO SEPTEMBER!
so should we Australians also hold off exchanging till after this black swan possible event occurs if that is what you are inferring ?
Sorry if this is a unintelligent question to some but trying to get my head around it on what to do for myself here and for my friends who also have dinar.
BACKDOC: FIRST OF ALL NO QUESTION IS EVER STUPID! EVERYDAY 1. I ASK QUESTIONS 2. READ 3. WRIGHT 3. AND TRY TO ADD VALUE TO SOMEONES LIFE.
CURRENTLY ALL CURRENCIES ARE FIAT BUT TRANSITIONING TO ASSET BACKED STATUS!
THE ENTRANCE OF THESE NEW DIGITAL CURRENCIES WILL START TO SHOW UP LIKELY AROUND MID YEAR! I WILL BE IN THOSE WHEN POSSIBLE!
I'M NOT GIVING ANY FINANCIAL ADVICE OF COURSE.
THE DANGER WILL LIE IN EXCHANGING YOUR ASSET BACKED DINAR FOR OTHER NON ASSET BACKED CURRENCIES.
I FOR ONE WILL ONLY EXCHANGE TO DIGITAL OR EXCHANGE TO IMMEDIATELY PAY OFF DEBT OR EXCHANGE TO BUY LAND GOLD OR ANOTHER ASSET BACKED ASSET!
THE THING I WILL AVOID IS EXCHANGING INTO FIAT AND HOLD IT IN A BANK ACCOUNT TO BE POTENTIALLY DEVALUED OR WORSE!
THE WORSE MAY BE SEVERELY DEVALUED OR COMPLETELY CRASHED OR REPLACED! NOT VERY INVITING WAY TO ENTER OUR NEW REALITY IS IT?
THIS IS WHY WE STUDY! TO SHOW YOUR SELF APPROVED! HEE HEE
GOD BLESS! DOC DEFINITELY JUST AN OPINION