Yada: Last night Hearing now that the dong is starting to float,, it may inch up some to exchange a few notes until the RV,,,this is not the RV of the dong first, just a correction in the value since it had been on hold for so many years
It was confirmed this would not be double dipping because we wouldnt necessarily turn around and repurchase but can purchase other currencies if we desire,,,,,,,It would just resolve serious financial issues but worth taking advantage of
And then there was some type of rumor or comment made that the adjustment may yield an increase in value of the dong to the dollar of close to 50¢
HappyVet: the Dong is already a international traded currency
Yada: But the value wasn't floating until 10 days ago
TBarts: Do you think if we exchanged some say at 50¢ per dong that we will be locked in to exchange at that rate later. First mouse....
Yada: No because we can exchange at the regular exchange and this is just one that is just increase slightly that had nothing to do with the RV….. there will be a major adjustment after the RV as all currencies will,,
HH-depending on how much it floats-sell a couple of notes …pay bills…wait for RV
Inola7: Inola7's Bro here- The Dong float may be a forcing factor of the RV. RV all currencies would go then... it eliminates that scenario
Briona: At .50 cents I could exchange 2 million dong, which I paid $100 for and buy 1 billion Dinar. Who believes they would let this happen.
DanBlessed: but THEY aren't counting on that briona....they are counting on people exchanging it and blowing it.
Briona: If they want to float the dong, I will be sailing to the bank to exchange, but I just don't see it happening.
Lilypad: Good Morrning Room. Wed CC: TIP FOR THE DAY: Keep your eye on the dong. We may just have a leveraging situation.
PKG: Right now, the dong has around 22 times less value than the dinar. It has a loooong way to go
Inola7: nola7's Bro here-you would need to exchange 22 thousand VND to get 1 Dollar currently. We want to exchange 2 VND for 1 Dollar to equate to that .50 cent vnd rate.
Inola7: i personally don't think banks will exchange at that new float rate if it floats. They dont exchange now at the current rate and Im thinking they don't want us going hogwild on buying more currency and throwing their calculation off. Just my uneducated opinion
Spine1: Inola...that would make sense, but when have they ever did things that make sense?
Inola7: I think the idea of a Dong float with the resulting exchanges is a forcing function for the RV. Just my opinion
Irene: Dollar Drop Boosts Commodities as Exporters Damp European Stocks ~ http://www.bloomberg.com/news/articles/2016-02-03/asian-stock-futures-diverge-as-dollar-selloff-sparks-oil-rebound
Beamer: bye bye petrodollar >>http://thenewsdoctors.com/goodbye-petrodollar-russia-accepts-yuan-is-now-chinas-biggest-oil-partner/
StarGazer: IRS says experiencing computer failure... https://news.yahoo.com/irs-experiencing-computer-failure-cnbc-citing-dow-jones-232406954--business.html
Cruiser: I have a ? To throw out if anyone has input or can shoot it to someone…… Getting info that zim is to be redeemed at a BOND CENTER and not a bank
CODreamer: CRUISER GOOD QUESTION, I HAVE NO IDEA - MAYBE THAT WILL BE THE EXCHANGE CENTERS INSTEAD OF A BANK
Cruiser: yes was thinking that…. but we all know they will be resold at higher rate I wonder then who will control the bond and if it is a bond then there shouldn't be any fee
Appaloosa: CRUISER - I thought that someone on one of this weeks calls did confirm that ZIM would be exchangeable at the banks.....
Cruiser: App. Yes heard that then got some Intel Bond center ?? Not sure just trying to have all my duckies in a row
Appaloosa: I'm sure we will receive instructions pertaining to the ZIM once the first basket is released internationally
Marlog: exchange centers will redeem the zim as bond,,,,,Joseff said not to be redeemed at the teller level of the banks
Cruiser: FYI. For what it's worth. Talked to private banker this am he did not know of any policy to insure more than a million if 2 or more on acct could go to1.6 I think he said also they would be only dealing in DINAR/DONG as of right now. FIFTH 3rd
Snowleapard: Agreed Cruiser. For certain, the dual functionality of the ZIM (Bond/Currency) is very interesting and worth investigating, further
Cruiser: Snow. i hope they will be well versed in this and trained.
Marlog: A wise friend told me the Zim can and will be redeemed at the exchange centres,,,The commercial bank operations will not deal with zim...the benefits of an exchange centere is a one stop smooth secure process....makes sense for this event
firefly We are at a point now where agreements are going to be activated, no ifs or buts.
Iraq has an obligation to get er done!
Millionday Press conference quote: "within the coverage of the budget will be put national bonds at home to be purchased by citizens at an interest rate similar to the interest which are raised for foreign bonds," adding that "these bonds will bring good return to the citizen".
THEY HAVE ANNOUNCED TO THE CITIZENS THAT NOT ONLY ARE THEY ABLE TO COVER THE BUDGET AND AGREEMENTS BUT ALSO THEY WILL BE ABLE TO INVEST IN THE BONDS AT A GREAT RETURN ---
THIS ANNOUNCEMENT IS A HUGE ONE TO MAKE IN IRAQ RIGHT NOW IN THE ECONOMIC CONDITION THEY ARE IN.
THIS REQUIRES THE MOVEMENT OF FUNDS TO EVEN BE POSSIBLE...I KNOW I AM EXCITED.
Landa Global Feb. 3, 2016 CC Replay
February 3, 2016 - General Update and Confirmations
Walkingstick: CBI News & Announcements
To / Muslim world Bank for Investment and Finance ( formerly "evidence the company's financial converter ) ( granting of the license and modify activity)
To / South Islamic Bank for Investment and Finance / private contribution ( South Company financial converter ) ( granting of the license)
Walkingstick: Iraqis are pulling their money out of banks for fear of bankruptcy
February 4, 2016 in the media center , reports the comments on Iraqi pulling their money out of banks, fearing bankruptcy closed
Incoherence of Iraqi citizens on the Banks main government in Iraq to withdraw their deposits for fear of worsening of the financial crisis plaguing the country, with a hint officials not to the government's ability to pay dues and salaries of employees and retirees in the middle of this year.
The Finance Minister Hoshyar Zebari, had confirmed last month that the government may not be able to pay its employees with the holy month of April / April next, due to the oil crisis and the depletion of state resources by the war.
the banker said Hamed Ali: "after waving Iraqi officials recently against the state's ability to pay employees and pensioners in April / next April, the Iraqis began to withdraw their money from banks for fear of seizure by the state if the crisis worsened. " He explained that "the amounts drawn ranging from $ 100 thousand for the accounts of the millions in dollars and 20 million Iraqi dinars for the accounts of millions of Iraqi dinars."
Iraqis currently resort to save their money in their homes or converted to gold hard currencies for easy converted to banks in neighboring countries.
He said economists that Iqbal Iraqis to withdraw their money deposited in state banks comes to a lack of confidence in the government and the fear of the looting of their money if a major breakdown in the state happened.
experts said that the volume of private deposits in state banks could reach 40 trillion Iraqi dinars (about US $ 35 billion), a huge sum leads withdrawn the erosion of the banking system and exacerbate the country's crisis.
the economist said Muwaffaq Mahmoud's "new Arab": "81.3% of the deposits are found in government banks worth more than 40.5 trillion dinars and the rest found in private banks, this represents a threat to the banking system."
Morteza Hasani, 51, a citizen believes that "the withdrawal of funds from the State-owned banks is an urgent necessity in the current circumstances, trust non-existent between the citizen and the government does not know what's in store for us the next few days", according to his words.
he said al-Hassani's "new Arab": "If you got an economic collapse it means the collapse of the state from where we will get our money deposited in state banks and even remained the state with the economic meltdown, it ensures that our money will not detain the State or will not be looted if I got a big mess in the country. "
this comes at a time when several Iraqi civil banks declared bankruptcy, because of the manipulation some money customers through trade real estate, raising fears of investors about their money.
the CBI had earlier announced its commitment to provide financial liquidity to domestic banks, which declared bankruptcy because of the acute shortage of foreign and national have currency, but the approach of government banks from bankruptcy is other than it complicated.
The number of the Iraqi government banks 6 banks are Mesopotamia, rational, socialist, and the bank's real estate and the agricultural Bank and the industrial Bank, while nearly 20 Iraqi banks, non-governmental prominent of these banks, the Middle East, investment and Baghdad.