Med says to (14:41:20): ANYONE HERE RJG CAN YOU POST THIS AND MAKE SURE THAT CREDIT IS GIVEN TO HARRY
Med says to (14:41:57): UNDER UMMM ENDING THIS INVESTMENT TY
ranjoesgirl says to (14:42:14): ok will do
Med says to (14:42:25): I MEAN WILL YOU PLEASE POST IT
Med says to (14:43:07): EXCELLENT ARTICLE ALSO SEVERAL OTHERS VERY GOOD THIS WAS A VERY VERY GOOD DAY FOR RV NEWS THE ARTICLE RJG IS POSTING IS KINDA LONG BUT VERY INFORMATIVE AND IT TALKS ABOUT US THE INVESTOR AND HOW WE ARE READY TO MAKE A KILLING ON THE DINAR
Read More Link On Right
THAT WE HAVE MORE CONFIDENCE IN IT THEN THE IRAQI PEOPLE AND MOSTLY CUZ WE UNDERSTAND THAT WITH OIL EVEN THOUGH THE GOVT SUCKS THEY WILL STILL BE WEALTHY AND SO WILL THE SPECULATOR
HE ACTUALLY DOES A GOOD JOB ON EXPLAININGAND THEY DO DISCUSS WHAT I SAID ON THE TIME FRAME I MENTIONEDON IT TAKING TO GET TO THE ONE TO ONEWITH THE USD AND IN FACT THEY EXPECT IT TO GO HIGHER THEY BELIEVE THE DINAR AGAIN WILL HIT 3 PLUS BECAUSE OF THE OILTHEY PREDICT 6 MBPDIN COMING YRS AND IN 3YRS THE DINAR WILL BE EQUAL TO THE USD
NOW SOME OF YOU I KNOW ARE JUMPING OFF THE BUILDINGTHINKING OMGI HAVE TO WAIT 3 YRS MORE NO THEY ARE SAYING THAT IT WILL STEADILY INCREASE OVER THE NEXT 36 MONTHS TO FINALLY GET TO 1 TO 1 SO HAVE THE FIREMEN PUT OUT THE NET TO CATCH YOU
lk says (14:50:16):thanks Med, great article, will post here shortly
Med says to (14:50:43): IT IS AND SEVERAL OTHERS ARE ALSO
glk says (14:51:36): hhhmmmm, as the dinar increases so will the dollar ? so the dinar will continue to increase to catch up ?? just a thought ...
Med says to (14:51:58): IT IS KIND OF A GENERAL STATEMENT OK THAT IS ALL I HAVE FOR NOW GONNA GO PLAY WITH MY LITTLE BUDDY HE IS RUNNING AROUND THE LIVING ROOM TERRORIZING EVERYONE
ranjoesgirl says to (14:54:14): thank you Med
Med says to (14:54:18): TY RJG YW OK LATER GANG MED OUT
glk says (14:54:35): thanks Med
Med says to (14:54:44): YW
tdk says to (14:56:12): thank you med
Iraqi dinar disappointing .. The speculators are betting on the future
Tahrir squares - 10/05/2012 - 10:02 pm | Hits: 266
BAGHDAD - agencies LINK
Many Iraqis have lost confidence in the Iraqi dinar, but is a big profit for some foreign speculators. This disparity highlights the uncertainty surrounding the investment in Iraq while recovering from years of war and economic sanctions.
According to Reuters, depends on the rise of the dinar speculators on simple logic, the Iraqi oil exports rose to 2.6 million barrels per day in September, registered their highest level in three decades. Iraq seeks to export six million barrels per day by 2017, which would make him closer to the current Saudi level.
Even if political instability and insurgent violence and bureaucracy without achieving this goal, Iraq is still in what seems on the threshold of an oil boom will lead to a shift in the financial situation. May grant the flow of new oil revenues Iraq a large surplus in foreign transactions and enhance public financial situation at the end of the current decade. This is the traditional recipe for a strong currency.
Hassanein said Ali Agha, head of the company «dinars want U.S. currency trading high-risk 'when buying the Iraqi dinar our investors because they know it is a long-term investment. You know that the reconstruction of countries takes time. Because banks outside Iraq are not traded freely, the dinar customers of criticism on the Internet, such as «dinars want are the only way in which foreigners can invest in the currency through. The company says the Las Vegas-based it sells hundreds of thousands of dollars worth of Iraqi dinar a day and shipped dinar for thousands of customers in the United States and elsewhere.
Agha said that, thanks to optimism about Iraq's oil wealth, the company saw strong demand for the dinar since its founding in 2004, one year after the U.S. invasion, which was followed by years of political violence and economic turmoil. But Iraqis in Baghdad are not convinced.
Many exploits any opportunity to convert their dinars into hard currency, and use of the U.S. dollar in their daily except small ones. Iman said Saad Eddin, a housewife and mother of two «We have no confidence in the Iraqi dinar ..
We fear that Ndk. Have more confidence in the dollar. Dollar fluctuates a fixed price tag. Iraqi dinar saw sharp fluctuations during the past three decades. In the eighties dinar was worth three dollars, but economic sanctions imposed on Iraq almost concurrently with the Gulf War in 1991 pushed the currency to fall, and fueled inflation fueled by the government print money. In late 1995, the dollar nearly three thousand Iraqi dinars.
After the 2003 invasion Iraqi Central intervention in the exchange market to support the dinar and use the revenues from the dollar to control the exchange rate. But over recent years, despite the growth of Iraq's oil production, did not rise as he had hoped dinar speculators. The central bank sells dollar in daily auction at constant 1166 dinars, a level did not undergo any significant change since 2009.
In fact, the Iraqi dinar subjected to downward pressure recently as a result of international economic sanctions on neighboring Iran and Syria. And defends Iraqi traders to buy the dollar to sell illegally to residents and businesses in these two countries اof hard currency. Iraqi currency fell to 1280 dinars to the dollar on the open market this year before allowing the Iraqi authorities to two state-run banks and some private banks to sell the dollar, which has helped to re-exchange rate to 1200 dinars to the dollar.
Another factor affects the dinar, which is that the largest category of banknotes is 25 thousand Iraqi dinars. This makes it the Iraqi currency is attractive for use in the economy of a primitive banking system and are often in cash transactions. And remember the faith of it paid in cash to buy a new home in 2009. Said «if it were our money dinar was impossible to hold them. The dollar and we brought in a small bag.
The central bank examines plans for deleting three zeros from the nominal value of banknotes to streamline financial transactions. This will in itself to increase the actual value of the dinar, as prices will be adjusted in line with the new procedure, but economists say it could lead to improved confidence in the dinar, which will enhance the value in the end.
Said Majid picture, an economist based in Baghdad «will lead to higher confidence in the dinar even though no change in its value .. Indirectly when confidence rises currency to rise. However, the Council of Ministers decided earlier this year comments complex process of restructuring currency until further notice, saying that the economic climate is not appropriate.
The biggest obstacle to the rise of the dinar is the fact that the Iraqi authorities seem satisfied so far at least the current scope of the exchange rate. The Iraqi government said in a memorandum to the International Monetary Fund on the financial and economic policies in 2011, she wrote in March of that year she sees advantages in keeping the dinar exchange rate stable. But Iraq's economy and public finances may Athassanan in the long run makes the authorities feel satisfied to allow the rise of the dinar with the influx of oil money into the country. The IMF expects to increase the budget surplus, which amounted to only 0.2 per cent of GDP this year to 12.1 per cent in 2017. It is expected to shift the balance of trade in goods and services - which recorded a deficit until 2010 - to achieve a large surplus of 11.3 per cent of GDP within five years.
And reported the appearance of Qasim, Deputy Governor of the Central Bank, Reuters he expected restructuring of the dinar in 2014 or thereafter, and by this time will be the size of the Iraqi currency traded rose significantly, which would make financial transactions more difficult. In the long run, CBI seeks to make the dinar is equal to the dollar through a process that involves restructuring the currency and the rise of its value, but it will take more than three years due to the instability in the Middle East.
Kassem said «it not for the situation in the region, we would have sooner than this plan. Some analysts believe that the rise of the currency may reach further than that. Kamal Al-Basri said, director of research at the Iraqi Institute for Economic Reform, an independent institute in Baghdad, he is expected to remain stable dinar in the next three years, but could rise after surpassing parity with the dollar limit. He added that the occurrence of this requires political stability and high education levels and skills and diversify the economy to reduce the heavy reliance on oil exports.
Said Ahmed Abdel Reda, owner of Exchange office in Baghdad, said that the stability of the dinar in the past three years is a good thing, but he did not expect the direction of the currency in the long run. He said «we hope to return as it was before, any dinar equals three dollars in the seventies or even eighties. He said «I expect that such a day comes. And why not? .. We are now in a situation of abnormal .. We are an oil country. LINK