Post From Dinar Updates
Chat Room Excerpts & Highlights
Dinar Updates Sunday PM Chat 3-27-16 Part 1 of 2
wmawhite says():Folks,........for all of you that continue to get your panties in a wad..........the change in the status of the IQD is not coming out of parliament.
The changes that Prime Minister Abadi is doing with the GOI is great, but that is for the future.
This change with the IQD is based upon the present and again, is not predicated upon whether parliament is meeting, nor where Maliki is living, nor whether Sadr is camping in the Green Zone.
Folks, the IMF has already told the world in many, many different ways, what Iraq is going to do very soon.
jquade54 says to wmawhite():Shabs may or may not be in the picture but he always said fully formed, stable goi before monetary change
larrykn says to wmawhite():they might be but I'm thinking the 2nd quarter starts April 1,,, Friday so this meeting being on Thursday makes some sence to me, not saying that is why we aren't seeing it yet but it could be
wmawhite says to cjquade54():and they are fully informed.and the head of the GOI is the Prime Minister and it is he that is pushing the monetary reforms and the entering of the economy markets.
wmawhite says to larrykn():there are dozens of meetings aking place everyday all over Iraq...........and they are not all about what we want.
Again,.....the IMF has already had the most important meetings and it is those meetings that produced the statement that Iraq "will"...not "thinking about it", not "studing it",......and not "maybe". Instead, Iraq "will"..action verb,.....will enter the economy markets during the 1st have of 2016.
cjquade54 says to wmawhite():was the word "expects" just a translation thing?
larrykn says to wmawhite():never said they weren't just saying they might be waiting for the next quarter to start
wmawhite says to cjquade54():This staement was made on October 23, 2015: The director of the Middle East Department and Central Asia for the International Monetary Fund Masood Ahmed in a press statement stressed that Iraq will return to economic market during the first half of next year.
cjquade54 says to wmawhite():great thank you ... I like that he "stressed" the fact
wmawhite says to larrykn():True.......and as they get down to making these huge changes and moves.........they probably are concerned about timing.........you are again probably correct.
dorisjean says to wmawhite(4):Since things are so fluid in Iraq, that statement from the IMF could also be a fluid event. The goal posts could move depending on further expectation from the IMF. We may not be privi to other requirements that might go into the second half of this year. Just sayin.
wmawhite says to cjquade54():i am now more interested about where this will initially manifest itself.........in other words, where will it first be evident.......IMO, in the Middle East. Because, I do not believe it will click and over night the new value will be showing on all of the screens in every bank in every country.
David212 says():wmawhite - no hurry in fact seeing that I am not paying u can tell me to kiss off but I had a question about purchasing power if... I mean when the IQD trades at a higher value. You had explained clearly that if the US$ moved up .04 or .25 versus a basket of currencies would that change my life.
Og course not unless one is traveling to a country whose currency has moved versus $. I would in theory get more or less in goods or services for my US money. If an Iraqi income is readistred upward the cost price mechanism that exists as a arbutrage disapears for domesticly produced goods.
Imports are now taxed so the increase in buying power is offset and pricing between Iraqi goods and imported goods move closer to one another . However if that Iraqi citizen goes on Amazon lets say can't he buy things het could not have before with IQD at 1182 assuming it was global at that price.
So by going international at higher than 1182 isn't that Iraqi consumer able to buy more than he or she was under the old system. ?
David212 says():As you all can see how busy I am sitting here thinking up these stupid questions.
jarhead says():good ?
wmawhite says to dorisjean():Possible.........however, I have never read about the IMF ever making such statements before. Also, IMO, some major progress would have to have been made for the IMF to make that statement.
Also (again) we see in the Technical Letter of Intent, Iraq has made great progress and the IMF laid out in paragraphs #19 and #20 exactly what remained to be accomphished for Article 8 and for items are happening now......for
David212 says to wmawhite():HI wmawhite that question on buying power was for u. If you feel like dealing with it.
wmawhite says to David212():If all you have in your Iraqi bank account is 1182 IQD and the value of the IQD to the USD is $1 = 1182 IQD..............how many $1 purchases are you going to make?
Only one because it will cost you 1182 IQD. However, if the value is $1 = 1IQD.......now you can make 1182 of those $1 purchases.
dorisjean says to wmawhite():Very true sir, that is what has me sitting here in high anticipation. And further, I agree that this shift in currency value may not appear as we might think of have anticipated. Maybe only certain banks that actually do business with Iraq will accept the Dinar and exchange it. Just because a bank is internationl,
wmawhite says to David212():I hope this explain or answered your question.
wmawhite says to dorisjean():IMO,............may have to travel initially.
dorisjean says to wmawhite():agreed
jarhead says to wmawhite():u said but i forget ...where would wehave to travel to IYO
cjquade54 says():hopefully we won't have to travel any further than the nearest xchange america provided they offer a fair deal
larrykn says to cjquade54):have you ever asked them what they would charge
cjquade54 says to larrykn():no
jarhead says():money :D
larrykn says to cjquade54():would me interesting to find out I wonder if they would say
dorisjean says to cjquade54():They are very limited on the amounts they would be able to exchange. They would have to have huge amounts of UDS on deposit. So doubt you would be able to exchange very much
dorisjean says to cjquade54():USD
cjquade54 says to larrykn():before the poop hit the fan Sterling always said $100 per million
larrykn says to cjquade54():yes I remember that
wmawhite says to jarhead():Again....IMO;............those countries that are presently meeting with Iraq about banking, infrastuture, etc. will be the ones in Iraq moving funds back and forward.
Thus, exchanging, having free flow of currencies, etc. Also, Iraq currently has agreements in place with the central banks of Jordan and the UAE...to help facilitiate the payments of funds outside of Iraq.
cjquade54 says to dorisjean():hard to say ... remember it would be digital money
larrykn says to cjquade54():I know sterling wouldn't give you cash it would have been a wire transfer to your account
cjquade54 says to larrykn():that would work just fine for me
larrykn says to cjquade54():me too :)
David212 says to wmawhite():Okay so this does help the average Iraqi's purchasing power, but if $1= 1IQD is the toaster madse in Iraq going to increase due to higher Iraqi toaster makers costs.
I am confused because this is really more than an internal Iraqi event from a live stlye standpoint ? They can buy a TV on Amazon which was never possible before. Assuming amazon transacts in dinars and I am sure they will.
David212 says to wmawhite():wmawhite forget about it I assume it increases economic activity inside and outsided Iraq and I will driop it
wmawhite says to David212():first;.........this is not an internal event.....this is totally an event external to Iraq. NOW........the effects of an increase in the value of the IQD.....and the fact that Iraq imports 90+% of its consumables..........the increase in value will eventually lower the price of goods.
wmawhite says to David212():It is basic economics 101.
jarhead says():NEWS FLASH: mr white is callin the RV !!!!!!!
David212 says to wmawhite():Gottcha thats why this whole RV world wide may pull the globe back to a growth mode
wmawhite says to jarhead():that is not nice.........
jarhead says():was kiddin
jarhead says():ur a marine quit wearin ur feelins on ya shoulders lol
DIGIman1 says():go stand in the corner jar....
jarhead says():gotta have a lil fun.......geez
wmawhite says to David212():I don't believe that either...........a stable and growing Iraq along with Kuwait and Saudi will do wonders for the Middle East.
cjquade54 says():hey isn't today the day the 2 major distributors in Iraq were to lower their prices?
wmawhite says to David212(4):But, it is not goingto be a shot in the arm of the global economy.
jarhead says():it'll b an overhaulto my economy :D
wmawhite says to jarhead():Stop the whining and get your butt back in line, Marine.
jarhead says():lol...sir yes sir!!
subgirl says to jarhead():BRB :)
wmawhite says to jarhead():At Ease.
subgirl says to jarhead():lol
David212 says to wmawhite():wmawhite but I owe you. I will even mow you lawn, clean windows you name it. Seriously thanks
jarhead says():mine needs mowed ????
DIGIman1 says():mine too!!
jarhead says():windows too
DIGIman1 says():do you trim hedges?
David212 says to wmawhite():Right ME we can talk Southeast Asia in 2017
jarhead says():deweed gardens ??
wmawhite says to David212():Nothing owed...but thanks though. IMO, this is as straight up and is no big secret. Iraq, the OMF and WB wants the world to know what is coming.
wmawhite says to David212():IMF*
David212 says to wmawhite():where do u live? I have an MBA but no job so I have but my ego in the toilet
David212 says to wmawhite():Only the flip windows I am scared of heights
wmawhite says to David212():Remember, VN, exports alot and it is to their advantage to keep their currency low..........just as China has done. They are the exact opposite to Iraq.