[buford] ....Just something to help people clarify some of the article interpretation of the last couple of days. .....If the following snippit is correct, the proper interpretation of those rate articles would be relating to the difference between the official value and the market value in Iraq. ....
The interpretation of that discussion relating directly to a dollar conversion rate is unlikely.
[buford] My first observation is that Iraqis are concerned about the volatility of the dinar. Now why should they be concerned? The dinar's value is pegged to the US dollar after all, and to my knowledge hasn't declined in value since it was introduced nine years ago.
Read More Link On Right
Buford Continues: Well the fact is there are two values for the IQD - the official value and the market value. This is a foreign concept to Americans but in Iraq the street value can vary from the official value considerably.
Take a look at this chart from the CBI website.
As you can see the Auction Price reflects the official exchange rate and the Market Price is the street price which has fallen considerably against the dollar this year. This is why the CBI had to step in recently to bring the street value closer to the official value, as was discussed in this article.
[buford] The second post is not mine, but copied.
[Florida] buford I have no idea why somebody would decide to interpret that article in such a manner. It defies logic...UNLESS they are of the mind that the RV will never ever happen.
[SSO_Scooby] Iraq’s government plans to adopt a 2013 federal budget of 138 trillion dinars ($118.5 billion) by the end of this month, according to Ali al-Allaq, general secretary of the cabinet.
The cabinet held a first discussion about the 2013 budget after receiving the draft from the finance ministry, he said in an interview in Baghdad today. The budget has to be approved by parliament once the draft is approved by the cabinet, he said.
[cashinqueen] [DOUBLE B] Iraqi List announces conditional approval to attend the national conference He said the leader of the Parliament decision of Iraqi MP Mohammed al-Khalidi told «life» that «bloc will attend the conference if the paper contained the reform of the Erbil and nine points for the meetings of Arbil and Najaf.
[cashinqueen] [DOUBLE B] Deputy center confirms its support for the adoption of paper of the National Alliance if absorbed the demands of the blocks Iqbal said in a press statement: "that if the paper of the National Alliance to incorporate the demands of the masses there is no problem that we get the national meeting in this paper," noting that the cluster center had not seen so far on paper only on the broad outlines of them.
" Iqbal called: "Prime Minister Nuri al-Maliki not to place conditions to attend the national conference," he said, adding that setting preconditions would lead to a negative reaction from the other parties and the new requirements,
[cashinqueen] which makes us go back to the same vortex. "
[cashinqueen] [DOUBLE B] Hrbo: warns of collapse of the political process in the event Takhirakd National Meeting Said Hrbo in a press statement on Saturday: It's time to implement political reform paper put forward by the National Alliance and held negotiations to resolve the political problems and calm the current situation, and if delay a national meeting to resolve problems and foil efforts by President Jalal Talabani, will lead to the collapse of the political process, and access options worsen the current situation, Kalmtalibat make the formation of a majority government or withdraw confidence from the Prime Minister Nuri al-Maliki.
[Precious] The Department of Homeland Security has been arming itself to the teeth over the course of the last six months, purchasing ammunition in jaw-dropping quantities. As we reported last month, following controversy over its purchase of around 1.2 billion bullets in the last six months alone, the DHS has put out a new solicitation for over 200 million more rounds of ammunition, some of which are designated to be used by snipers.
[target]: [Blaino] We now are getting releases from the CBI stating that the dinar stands at 1.18 USD per Dinar. I still believe that the rate of $1.30 that came out a few weeks ago was a solid and accurate report that was not supposed to go public just yet, because we only heard a few days ago that it was at 1:1 against the dollar, now you hear about 1.18 rate as of this morning... I still think that they are understating the true value of the Dinar at this point.
Keeping a lid on the actual rate that it holds to the public. There is no reason for them to make any of these rate statements except for public relations boasting at this point since as we all know it is still able to be purchased at 1166 per dollar.
So what does this mean....well it means that...what they are doing is creating the perception of a value for "In Country" at this time as to not cause a shock throughout the economy of Iraq once this is released at it's "True Value". [post 1 of 2....stay tuned]
[target]: [Blaino] We...discussed in the past how it would be released and not cause major problem going from being worthless to becoming more valuable than the US Dollar, well I think we're seeing how they are making the transition within Iraq.
There is still a lock down on the boarders of Iraq from taking Dinar out of the country. I still believe that if this is a pushed to finish up on the final issues that the Iraqi government faces, by the US government before the elections, we should see the National Conference take place as a final step to announcing the completion of Article 140, the HCL Laws, and most importantly the implementation of the Erbil Agreement ready to go through at or about the same time as the release from CH 7 being announced....it's just a matter of timing. [post 2 of 2]