Saturday Afternoon Chat with WMAWhite... (6/20/15)
DinarUpdates.com / Afternoon Chat with WMAWhite...
Urgent .. Keywords: central bank intervention in the decisions that affect the work
Follow-up – The governor of the Bank of the Central Bank of Iraq on the Keywords, the bank agreed with the Association of private banks to develop procedures to support the stability of the currency exchange rate.
According Keywords in a joint press conference with the President of the Association of private banks and depositary Handal, that “change or raise the exchange rate means carrying citizen direct burden of this increase, what happened in the past few days is not normal, pointing to attempts to involve the kind of speculation and other things “noting that” it is not reasonable to increase the exchange rate within one day 100 degrees and can not be the only factors and the presence of non-natural causes leading to this increase. ”
He continued, “As long as we are able to respond to the request, no matter how its size, we have no fears or concerns to influence the exchange rate.”
wmawhite: For sure,.....there is a lot happening and Iraq is involved in many discussions with many countries.
puffdragon: This was my take from BGG explaining this emergency meeting for Sunday and Alak should be worried, with this press conference of Alak’s - he is IMO (worried).
beth: And what are your thoughts about Alak today?
beth: I just want to pick your brain. (lol)
wmawhite: The CBI will proceed in a manner to carry out the policies of the GOI. This (what we want) is NOT single faceted. It is very involved and is tied to the outside world currency markets.
beth: Supply and Demand...right?
wmawhite: Exactly,.............what we see and read about, on the streets, market rate, is not the yet to be announced international value of the IQD. Instead, the GOI is preparing the citizen for what they will carry in their pockets. What we want is not spoken about openly.
beth: I agree there
jd: I’m just afraid if USA does not help Iraq then China, Iran or Russa will and totally cut us out of the RV all together. Obamas hands off approach may push us out of this whole process??
Baxter1243: JD.. how would that be possible.. currency is currency... no matter where you are...
wmawhite: When a country changes its value of its currency it applies to the entire world. It is impossible to "cut" a country out of recognizing the value of what you want the entire world to use.
beth: I have to remind myself daily that these articles that we see are really meant ONLY for the Iraqis to read. They aren't meant for us to read. But we do anyways and then try to understand what they are really saying.
cowboywads: JD OUR GOVERNMENT HAS TOO MANY DINAR FOR THAT TO HAPPEN
wmawhite: Let me give you an example............the CBI informs all banks in Iraq to start paying foreign bills (remittances) in IQD instead of USD. And that the exchange rate/value will be XXX IQD for every 1 such and such. What is this? This was an example of a change in value of the IQD...........how can and why would Iraq want to cut any country out? Instead, they will want all of the world to participate.
beth: Exactly !!!
jd: Im not sure that Iraq trusts the USA a whole lot.
beth: I love the way you explain things in layman terms. Makes it so much easier for US to understand. So Thank You :-*
jd:Sadr really thinks highly of us.
cowboywads: JD TAKE A BREATH AND RELAX YOUR GOING TO BE RICH LOL
beth”: Iraq will always do what is best for Iraq and the Iraqi Citizens !!!
wmawhite: The introduction of the IQD to the world currency markets has zero to do with trust of the USA.
puffdragon: Dont get him to excited he might have to change !!
jd: I just see a lot of land mines along the way.
beth: And with the IQD in the World Currency Market is HUGE and much NEEDED for Iraq's future.
wmawhite: And some asteroid may wipe out earth too............but why worry about that.
jd: You are right.
puffdragon: You got it I’m impressed !
wmawhite: We are blessed to be sitting on this.................it still applies...........it has never been about if.........instead, we wait on when.