Post From Dinar Updates
Chat Room Excerpts & Highlights
Dinar Updates Sunday PM Chat 7-10-16
Questions & Chat During & After Live Call Recorded Call Link
da58 says():do we know for sure - that the full tariffs are indeed being enforced at all ports now? I know they were 'supposed' to on the 6/25... haven't seen much else on that.. ?
da58 says():they did speak of inflation in marketplace.. today
mfree05 says():The IMF has suggested that the completion and implementation of the SBA loan conditions will give international and (regional) investors improved confidence in Iraq. Would this not be a great time to fully re-enter the international monetary markets like the forex - when international confidence is on an upswing?
Hutch says to mfree05():THEY ARE COVERING NOW
SRW says():The article that the economist is stating 1 dollar equals 1 dinar 18 fils, but could the value of the dinar eventually go higher internationally in relation to the dollar? I realize laws need to be passed before this can take place first.
jackflash101st says():I am wondering about how you guys feel about Alak and whats he up to?
BGG says to jackflash101st():I have always said - he will either play ball or be removed...
BGG says to jackflash101st():He is obviously playing ball.
ann4 says():To have the IQD used "universally and 'externally' by tourist and traders instead of the dollar" does this sound like a replacement of the US currency altogether worldwide. Mr. White is that what you meant by it "looks bigger than what it seems." If so, is the worldwide use of the IQD headed as the "one world currency" I wondered?
BGG says to jackflash101st():Maliki was clearly appointing someone he believed would be more favorable to him...
BGG says to jackflash101st():However,
BGG says to jackflash101st():Maliki FULLY miscalculated the "survivalist nature" of many technocrat types in the GOI... Alak appears to display some of this trait...
jackflash101st says():Great analysis BGG Thank you
SRW says():The article that the economist is stating 1 dollar equals 1 dinar 18fils, but could the value of the dinar eventually go higher internationally in relation to the dollar?
Hutch says():ANY OTHER QUESTIONS ???
Hutch says to SRW():(y) THANK YOU !!!!
BGG says():What is amazing to me...
BGG says():regarding all the news out today... this topic - Currency reform, Dinar value and economic reform... IS PLAINLY BEING TALKED ABOUT. It's NO SECRET. They are discussing it DAILY - and OPENLY.
da58 says():the old minister of planning doc - feasibility study that's on their site.. states the rate of 1.134, and also states for '3 yrs at which time it would be re valuated' I believe.. do you think this will stand? or - be revised.. ? or - is this obsolete
BGG says to da58():That is a very intersting point - is it not possible they TOLD US THAT FAR BACK... what would actually happen??
BGG says to da58():BOOM
da58 says to BGG(yes it is.. and it's been posted all these yrs.. lol
da58 says to BGG():it's all in that last paragraph... and they also explain how 'being at a buck' under their true value - encourages exports and allows them to remain competitive in the marketplace.. they state the reasons.. as they build their infastructure.
da58 says to BGG():Justifications for exchange-rate adjustment: there are a number of important and powerful arguments which support the view that the official exchange rate reduces the real value of foreign currency for purposes of calculating the economic national profitability for investment projects and hence for the purposes of investment planning.
It is demonstrated in this context to call for assessing the dinar for less than (3.208) dollar (official exchange rate) when assessing project outputs and inputs of traded goods of exports, substitute imports and imports... etc.
The justifications to call for the use of an exchange rate that is lower than the official exchange rate are:
· The use of an exchange rate that is lower than the official rate is the appropriate action at the investment planning level to translate the country’s economic strategy aiming at stimulating central investments in the sectors that encourage the development of non-oil exports, as well as sectors that encourage the expansion of domestic production base in order to reduce imports and compensate it with local commodities.
This helps to reduce reliance on foreign exchange earnings from crude oil exports and increases the share of non-oil sectors in the local production.
· The application of the amended exchange rate on project imported inputs will assist in directing investments away from aggregated sectors dependent on imported inputs and the preference of those sectors that rely on locally produced inputs.
· The use of the amended exchange rate helps to correct the balance in favor of the traded goods sectors compared to non-traded goods.
· The real exchange rate has declined rapidly since the early seventies, through rapid rise of the level of prices and local costs which led by the steadiness of the official exchange rate to change in prices and actual local rate costs that gave an advantage for imported goods at the expense of locally produced goods, meaning that it led to deterioration of the competitiveness of alternative replacement goods and export commodities.
· This action shows that the official exchange rate overestimates the value of the dinar, compared to the foreign currency and from the promoting goods substituting imports and export commodities point of view of.
And in support to this view is the state’s utilization and in a broad approach to the customs and quantitative protection policies especially for consumer goods, as well as export subsidies that exports have through an amended export exchange rate.
3. Estimate the amended exchange rate of the Iraqi dinar to be used in technical and economical feasibility studies and for (1.134) dollar per dinar. This price should be approved for 3 years until re-appreciation by the competent authorities.
watson1 says():THIS IS REALLY HAPPENING AS SPEAK WOW . I NEED PITCH MYSELF
caravaggio says():Thanks everyone. I'm finally getting a little excited.
mfree05 says(Great job with the Newstime and Call and Hosting and Coping tonight! Thank you all! One question for anyone; The IMF has suggested that the completion and implementation of the SBA loan conditions will give international and (regional) investors improved confidence in Iraq.
Would this not be a great time to fully re-enter the international monetary markets like the forex - when international confidence is on an upswing?
david334 says to rcookie():Thanks rcookie so much you talent and intellect is going to take you to big places. On the Dinar rate of 1.18 there is goingfto be a huge arbitrage as all the countys existing inventory revalues which is going tondrive demand for dinar, which will get all the idiots to start discounting the countries value. Just the port alone. Thank you BGG and WMAWHITe
SRW says():It was my understanding that Parliament needed to meet and pass the remaining laws and reforms stated by the IMF before a change in value to Iraqs currency. Am I wrong about this?
SRW says():I am referring to value of currency internationally.
BGG says to SRW():I don't think that HAS to be entirely accurate...
BGG says to SRW():I know that has been bantered about as "fact"... that may not be entirely accurate.
SRW says():So, the CBI could announce an international rate at anytime?
Hutch says to SRW():CORRECT
Hutch says to SRW():MR WHITE TALKED ABOUT IT ON CALL
SRW says():Thanks!! Yes sir, I just needed clarification. This gets confusing!
BGG says to Hutch():He did - that is correct.
Hutch says to SRW():REMEMBER, AS HE SAID.... GOI IS GOI AND CBI IS CBI, TWO SEPARATE ENTITIES
SRW says():Thankyou and all of the team.
BUCK says():does this not sound like these countries already have an agreement that involves a value change as they buy imports from them??? rcookie says(7:31 PM):
3.eetm payment in Iraqi dinars for imports from China, Iran, Russia and Turkey are all state of understanding with them about the currency that is dealt with.
Read More :http://www.dinarupdates.com/showthread.php?36816-Sunday-July-10-2016/page3