Post From Dinar Updates 2-29-16
Chat Room Excerpts & Highlights
Dinar Updates Monday AM Chat 2-29-16 Part 3 of 3
larrykn says():faith1 for them to do anything using banking outside of Iraq they would need a reality rate
faith1 says():OK Thanks will wait,,, not wondering around today !! (v)
faith1 says():thanks larry, but isn't it a requirement of full assention / membership into WTO
larrykn says():yes larrykn says():they need to go into article 8 which needs a reality rate
chickadee says to larrykn():and thats what we are waiting on?
faith1 says():whoo hoo thought so,,, and don't they have to operate 30 days keeping inflation at 2% range ,,, then bam,,, international they go ... I may have it all wrong,,, that's the picture i have in mind...(v)
sheila3 says to slh5282():GA, there is no round table any more :)
sheila3 says to slh5282():i THINK md is coming in tonight
slh5282 says():WELL THAT DOESNT MAKE ME HAPPY... I MISS MILLIONDAY'S GOOD NEWS IN THE MIDDLE OF THE DAY
JETSET says():another day closer! let's go rv! so, are they in Article 8 today?
LLN65 says to Pablo():hey friend :) I dont know sorry lol
LLN65 says to Pablo():I been outta the loop
Pablo says():Me too.
chickadee says():dont they have to have a rate at same time of art 8? seems like I remember that being said.
Pablo says():That was my understanding.
LLN65 says to chickadee():hey hon I thought so too, but we may all fail the exam on How does Iraq Raise the Rate :D
Pablo says():One tenth of a penny at a time. :)
LLN65 says to Pablo():I know right lol well at least those who have been in for 11 years or more can say they have made a ROI (y)
chickadee says to LLN65():bet your right
LLN65 says to chickadee():yeah :)
larrykn says():sorry faith1 had to walk away,, article 8 is when all banks in the world will deal with Iraq and their banking
larrykn says to chickadee():yes article 8 and the new rate will be almost at the same time
_firefly_ says to templejc():From my understanding, a country has to have a real rate to enter into Article 8
larrykn says():that is right firefly so I'm thinking a rate then article 8
templejc says to _firefly_():(lol) THANK YOU FOR THAT!
chickadee says to larrykn():what if they dont do the art 8 today or tomorrow?
larrykn says():then we don't see a rate lol
_firefly_ says to chickadee():Who said they are?
chickadee says to _firefly_():no one just wonder if it had to be done or else.
larrykn says():firefly I think people remember what MD brought in a few weeks ago that ha something to do with the imf getting something done, I don't remember them saying we will see a rate change then
_firefly_ says to LLN65():IMF stated they will enter the global economy in the 1st half of 2016. Never have they stated otherwise
LLN65 says():FF well that works for me :) TY
_firefly_ says to larrykn():That was Draft and Adopt certain criteria which was accomplished BEFORE that release came out
LLN65 says():If someone could just make a list with what has to be done and whats been done with check marks I would be so happy :D
LLN65 says():larrykn says():LLN65 I feel most of what is need to get done is done, I think they have a few things that they want to get done first but I feel we aren't that far off now
Pablo says():They were supposed to have their big report card today.
Pablo says():Mr White brought that in a few weeks ago.
LLN65 says to Pablo():you know more than i do :D TY
templejc says to _firefly_():HOWEVER WASNT THERE SOMETHING ABOUT THE END OF FEBRUARY?
templejc says to _firefly_():AS WELL templejc says to _firefly_():?
larrykn says():do you really feel Iraq is going to tell you were they are at an when they are going to do what we want, I don't think so
Pablo says(12:28 PM):Well, I was under the impression that assuming a good report that they would be Article 8.
templejc says to larrykn():I REALLY DONT BELIEVE SO - BUT THEIR WAS AN ARTICLE THAT MD BROUGHT IN - ABOUT END OF FEBRUARY
Cricket22 says():Well, I can just hear Fishy say....This is Iraq! :D
chickadee says to templejc():thats what I thought that art 8 by end of Feb.
Martha Sue says to LLN65():hoping that IRAQ knows about Leap Year ... and decides to make this happen on a day that only happens once every 4 years! :D:D:D:D
LLN65 says to Martha Sue():oh my meeeeee tooooo :D (lol)
Pablo says():Never said they would RV by the end of Feb, but they were supposed to have their report card by then.
Martha Sue says to LLN65():actually would be pretty funny! TYhey could only celebrate their financial change every 4 years! :D:D:D is almost appropriate
LLN65 says to Martha Sue():(lol) perfect for them
R&R says():As I recall, there are three things that Iraq agreed to complete by the end of February 2016 in the MOU that was signed with the IMF last December, and the progress toward completion of these goals is being monitored under the IMF SMP (staff monitored program): (1) ending currency auctions; (2) ending the multi-currency practices; nd (3) ending exchange rate distortions.
MadDScout says():The governor of the central bank on the Keywords announced on the third of March 2015 that the new guidelines set by the bank is that the auction is no longer a daily window for operations for the sale of currency auctions, noting that the new mechanisms developed to sell this currency, especially that of its functions to provide currency for foreign trade.
And established an independent Iraqi Central Bank as a bank under a law issued on the sixth of March 2004, as an independent body, which is responsible for maintaining price stability and the implementation of monetary policy, including exchange rate policies are being daily sessions for buying and selling currencies.
Read More :http://www.dinarupdates.com/showthre...334#post146334
R&R says():So, when we hear February 29th being important, it is because we are looking for these things to be announced as completed today. Whether or not they are completed yet, we are still waiting to see...
LLN65 says to R&R():ty (F) that helps
Pablo says():Yes, but ending the exchange rate distortions sounds a lot like a price correction.
R&R says to Pablo():I am not an expert, but if the dinar was international tradable, the real time, reality rate for the dinar would be available to everyone.
And because anyone, anywhere, can have access to the "true" rate, the distortions we see now between the CBI, the Iraq moneychangers, other dealers, etc. would effectively disappear. So IMO make it tradable is a self-fulfilling event for removal of the distortions
Pablo says to R&R():That was my impresssion as well.
R&R says to tman23():Without even opening it, I;m guessing that the programme for the Iraqi Banking Conference in Beirut, Lebanon on March 7th and 8th?
R&R says():Either way, I like this little window we've entered. On one end we have the agreed IMF deadlines from the MOU for today, and out 7-8 days we have a banking conference with a host of important figures presenting. Last Saturday (27th), Abadi said he'd have the list of new names he wants submitted for key positions in ten days, too. That also falls right at the start of the conference.
R&R says():Lots for us to keep our eyes peeled for over the coming hours and days.... praying!.... :-)
R&R says():One last thing :) ... If in fact there is an auction tomorrow, just remember this: Alak already came out and said that although he is advocating for the end of the auctions, if in fact the auctions continue past today, he want to let the world know it is not due to "smuggling" or the "wasting of public funds".
So don't be shocked if you wake up to an auction tomorrow. Just remember that the IMF is in control, there is no delay, and there is a plan in place! That said, I pray we're almost at the end (F)
Pablo says():The auctions were supposed to end today?
R&R says to Pablo(): R&R: ..As I recall, there are three things that Iraq agreed to complete by the end of February 2016 in the MOU that was signed with the IMF last December, and the progress toward completion of these goals is being monitored under the IMF SMP (staff monitored program): (1) ending currency auctions; (2) ending the multi-currency practices; and (3) ending exchange rate distortions.
Pablo says():Ahhh, missed number 1 Pablo says():Cool.
tman23 says():Tomorrow the Kurds oil will begin reporting with complete transparency......Article out today does not claim the halting of production being due to pipeline damage etc..etc..
BUT now a member of the PUK says Turkey is holding the Kurd oil for ransom...... LOL !! That makes 5 different excuses for the Kurds stopping production on the 16th........ Can you say "OIL AGREEMENT" !! LOL ... Why keep it such a big secret /
jimplants says():tman the love to lie they are just keeping in practice
Pablo says():crickets again. :)
graylnjo says():Iraq doesn't do timelines :S8-|
Pablo says():They don't really have a choice now that the IMF is in control.
foxmulder says():TMAN ! your opinions and conversation are welcome
foxmulder says():people do not like what you say to bad !
graylnjo says():I will only believe it................when I see it .......and I hope I see it (H)
foxmulder says to graylnjo():I second that statement
LLN65 says():we are blessed to have Tman and others on this site!! (F)
foxmulder says to LLN65():YEP