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BGG Sunday Night News Time 10-23-16 Part 3 of 3
BGG says():Here's THE ARTICLE...
MadDScout says():Coinciding with the victories of our security forces in Mosul. The Central Bank raised the dinar against the dollar
Central Bank officials confirmed yesterday that the Iraqi dinar price final price us dollar coinciding with victories of our security forces are advancing towards the liberation of the city of Mosul, the source said in a press statement singled out by the news that the Central Bank decided to raise the value of the Iraqi dinar against the US dollar financial mechanisms within its own policies stating that those mechanisms are subject to the principle of supply and demand in the domestic market.
The source said the Iraqi dinar during the coming few days will witness a significant rise in the price of the US dollar. Site Editor: 2016-10-23
One of our face bookers, Starr M found this today
david334 says():Sounds like a typo?
MadDScout says():I am reserved because it is a "one off"
BGG says():There were several versions out there.
eman4u55 says():THAT'S SOME TYPO
BGG says():First - what are the two things they have plainly said they needed ??
david334 says():domestic products made in the good ole IRAQ
BGG says():Nope. You all know this...
carxpress says):security & inflation under control?
MadDScout says():Stability political/social,
goldenbear says():security and laws
BGG says to carxpress():BINGO
MadDScout says to carxpress():thank you I could not remember inflation LOL
1bobby says():Stability and sound economic policies
MadDScout says to 1bobby():Yup
carxpress says():you're welcome & thanks for all u do MadScout
MadDScout says to carxpress():My pleasure
SRW says to BGG():Security and Inflation!! Over and Over many times stated!!
david334 says():That article said recent inflation was 2%
BGG says(): those are things Shabibi talked about way back... obviously - there are also some banking and investment laws the world community is insisting on (so their investments are somewhat protected)...
MadDScout says():Inflation is at 2%
MadDScout says to david334():I owe you a coke
BGG says():but these laws seem to be on a "fast track".
david334 says to MadDScout():My pleasure
Movack says():good evening
BGG says():on the flip side... this piece many not be talking about an true RV at all - but it looks rather interesting - to say the least.
You might want to check out my comment on the subject - on THE BLOG
jetset says():For years now, IQD investors and "experts" have had check boxes or to do lists before we can see an RV. Now we have these laws that are taking on that role in our community. Do you think we actually need all of these laws in place before we can see a rate change?
BGG says to jetset():I do. However, they are not much of a "hold-up" - they are on a "fast-track" to getting done. GO RV!!
BGG says to jetset():to clarify - not "all" - just a couple of the more critical ones... Gen Amnesty was one, banking and investment are important to the WB/IMF... obviously. They were never going to give Iraq the support they need while they were trampling all over everyone.
just not gonna' happen. and - it really boils down to one thing... much like I outlined in me commentary several weeks ago... what did all this "package" really mean?? World acceptance... or re-entry... or whatever you wanna' call it. But Iraq wasn't in charge of their own "acceptance" - WB/IMF/UN WAS (is).
jetset says to BGG():no doubt that there was criteria that had to be met!
BGG says to jetset():Iraq was never going to be able to push a button somewhere and "self-declare" their currency worth XYZ...
They could, but then it would be like Saddam - he says one thing and the IMF says another. Dual rate. That won't happen again.
BGG says to jetset():Well - it appears to me, they at least had to show up and act like they were interested in working with the IMF/WB - instead of a bunch of Russian Mobsters.
BGG says to jetset():or drunk sorority girls...
RickeyT says():they could go to 500 dinar per dollar and float from there couldn't they. That would more than double the value....
BGG says to RickeyT():They COULD do a lot of things... but that is not the characterization they've laid out in their official documents. Over and over...
IMHO - they've told us what they intend to do.
RickeyT says():.86 to 1.18?
BGG says to RickeyT():I like where your head's at!!
BGG says():OK - any final thoughts??
aminmaine25229787 says():thats a good starting value and it will go up from there
jetset says to RickeyT():i would agree with that... i think it comes out at an initial rate and will go up quickly!
RickeyT says():we shall see, someone know.....just not me!
1bobby says():Thank you for all the great info BGG and MadScout
aminmaine25229787 says():BGG what are you looking for this week?
BGG says():daylight... keepin' it simple
daytrader says to BGG():comment
MrsBGG says():Thank you everyone for joining us! Thank you BGG & MadDScout!!
BGG says():Have a great night.
MrsBGG says():Thank you Mags for copying and editing!!
carxpress says):I just want to again, Thank Everyone here at DU .. .. the information, the Researchers, the Newstimes, the After-Calls, Facebook, the Copiers, the Mods, etc .. . .Everyone who participates in any way . … you all keep me ‘grounded’ and extremely well-informed . … I am Blessed to be a part of this Awesome family/community!!!
MrsBGG says():Love & Blessings to you'all
BGG says():Stay tuned to: THE BLOG, THE OBSERVER, THE CHAT ROOM, THE FB Group, and THE FORUM - thanks to everyone who makes DU what it is.
magnetlady says():You are most Welcome Mrs. BGG
magnetlady says():Thank you BGG and MadDScout for the Newstime tonight.
daytrader says to BGG():The IMF uses BASEL formulas to determine the value of a currency. They most likely would not allow a country to have a rate that is lower rate than its true value. It would give that country an unfair advantage in the world markets.
MadDScout says to magnetlady():You're welcome and thank you
BGG says to daytrader():Great comment - at about a buck, I don't think that would be the case.
MadDScout says to MrsBGG():Welcome
daytrader says to BGG():I agree.
sheila3 says to BGG():thank you
BGG says to daytrader():however, there has to be some "qualifier" to that - since it is widely recognized the IQD is "grossly under-valued"...
BGG says to daytrader():and it could be - the "stick" in these recent goings on... was...
Read More :http://www.dinarupdates.com/showthread.php?42848-NEWSTIME-WITH-BGG-amp-CO-Sunday-October-23-2016