Freebird:Many will tell you that this has nothing to do with Iraq~dinardetective
« on: Today at 11:15:29 AM »Quote7-25-2012 Freebird: Many will tell you that this has nothing to do with Iraq. That's funny I thought it was Iraq's currency and it was the Central Bank of Iraq that has been raising interest rates in an attempt to allow a gradual appreciation of the dinar in an attempt to fight dollarization.
For the past couple of years, the usual suspects claim "all is done and this has nothing to do with Iraq." When I hear this week after week I really start to wonder if it's ever occurred to them that rather than listen to "secret sources" who are obviously off the mark, maybe they should do some real research on economic reform, the stability that is necessary from the GOI to ensure the success of the said economic reforms and then maybe come to the realization that this is an extremely complex "process" and the word done has no place in it until we are once again at the bank or exchange, to make an IQD/USD transaction.
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You can also ignore anyone trying to tell you what the banks will be doing post-rv. Bank policies toward the IQD have not even been established yet and wll not be until the currency becomes tradeable.
"Bank Packages" are a myth. It should be common sense that no bank is going to advertise that they are not only expecting a revaluation on the IQD, they will also be able to offer the highest rate on a currency they don't even know for sure will ever appreciate.
Bogus prosperity packages are the source of these false rumors.
So, what is real? September to January, that's our real window. Don't take my word for it, listen to the CBI, GOI, Finance Committee, Council of Ministers etc. They've been saying September - January for over a year (remember back when everyone said it was "smoke" and we'd never make it to 2012), well here we are. That is the good news.
This has been a 10 year plan. Economic policy is laid out for 10 years at a time by policy makers quite frequently, so this makes perfect sense. After 9 years we are so close to the end of this but do yourself a favor and avoid the "any minute" hype. Come September, start looking though.
Getting involved in this investment was the best financial decision we could have ever made. We're are a part of history. Keep the faith.