BGG: I have some commentary "in review" of yesterday...
BGG: Maybe I should have been a little more "tender" with my words. I used the word "RV" apparently currencies don't do that (otherwise I'm an idiot - according to some commenters). I say... SEMANTICS
BGG: I care very little what terminology gets used. I care about getting things started OFF!!
BGG: Whatever the number - or the term - or what the "title page" looks like - J I'm just looking for THE JUMPING OFF POINT.
BGG: because once it gets going (again) their market will take care of the rest.
BGG: I also wonder what it has been called everytime they changed the value of the Dinar since 2003 - (when it started out at around 4,000:1) ... ??
BGG: it can't have been a "float"...
BGG: technically not an RV (according to some)...
BGG: and again - I really could care less what they call it as long as the value goes up.
BGG: Can I get an Amen??
wilson6060: amen
_firefly_: And goes international
BGG _firefly_: Amen!!
_firefly_: The WB calls it a Revaluation, good enough for me
diagyAAAE: It is ONLY floating in Iraq. You have to have a MARKET for it to be this "float" IMO
There isn't a market YET
BGG: For those saying the Dinar will never go up - Ummmmm - it already has, and is poised to go much farther. Their own economists have regularly referred to is as "grossly undervalued" - WHAT DOES THAT MEAN??
quicktolegit96: I WAS ABOUT TO SAY SOMETHING ALONG THEM LINES, IT SHOULD BE 1 TO 1 AT LEAST
_firefly_: 1;1 in country ...yes
BGG: going from 4000:1 up to 1166:1 is a VERY BIG move... so there is recent historical context for JUST SUCH A MOVE.
wmawhite BGG: It means that the current 1166 is an artifical rate.......a programmed rate.......a temporary rate.
_firefly_ BGG: HISTORY
BGG: Further - those calling EVERYONE else who has any opinion other than their own is more about "internet ratings" - kinda' like, see all those dumb people, we're the only ones who "KNOW", follow us.
wmawhite BGG: furthermore,.....the CBI can not float a value that is programmed for them........it has to go international at its true value first.
BGG: unfortunately - this strategy ALWAYS fails... because they suffer the same delusion every other smart person does. ARROGANCE.
_firefly_ BGG: IF they knew we wouldn't be here right now ;=)
BGG: whenever you think you are the smartest person in the room - chances are you're not.
BGG: Smart people are like good shooters in America - THIS JOINT IS FULL OF THEM
diane1: WHen willl the IQD go internationally?
diagyAAAE: sometime after today
BGG: I really enjoy watching and hearing all the creative debate.
Pablo: 1 to 1? Booo, I was hoping for at least 3 to 1
CanTWaitwoRV quicktolegit96: yep...Najib said in the article yesterday 1 to 1 basically
CanTWaitwoRV quicktolegit96: and she's kinda like the queen bee in parliament/economic committee...I think I recall her and Zzebari being tight
BGG CanTWaitwoRV: and personally - I don't care what (exactly Najiba (a she) Najib) she was asking for - it sounded a lot like "added value" - some shift in value - additional buying power...
BGG CanTWaitwoRV: do I care what the term is?? I do not...
CanTWaitwoRV BGG: true but glad she stated it rather point blank
BGG CanTWaitwoRV: relax - it's all good...
quicktolegit96: BGG AMEN TO THAT
joyojoy: How does the International(global) price index(?) play into this new or to be valued IQD?
BGG joyojoy: That's an MD question for tonite
CanTWaitwoRV BGG: A member of the parliamentary economy calls for the deletion of zeros and the issuance of Banknotes small to strengthen the dinar 2015/9/8 10:28 • a member of the Parliamentary Economy and Investment has called for the issuance of Banknotes small (LOWER DENOMS) to strengthen the Iraqi dinar. (RV) Said Najiba Najib told all of Iraq [where] the more we were able to strengthen the country's economy will be reflected on the value of the Iraqi dinar against foreign currencies (RV), noting that "if what has been compared to the Iraqi dinar to the dollar, it is not weak equal almost to a certain
wilson6060: anything on parliment today
BGG wilson6060: I think so -
wmawhite: House of Representatives completed the second reading of the law of money laundering 09/09/2015 01:40 |
BGG: OK Rounders - wasn't there some article out today about them having read the AML Law the second time??
BGG: Woops - there it is from Mr White!!
BGG wmawhite: Thank you.
wmawhite: Sorry.......no link
BGG wmawhite: that is a big move forward. 1 more reading and a vote...then enforce it.
BGG wmawhite: WB and IMF will be happy... (all in very "over simplistic" terms, of course...)
.MOD.subgirlcopy: Did it say when the next reading will be for that?
BGG .MOD.subgirlcopy: I do not know - but I would suspect soon.
BGG .MOD.subgirlcopy: they are moving on it with prejudice.
wmawhite BGG: True......the world wants reason to enter Iraq in big numbers.
BGG wmawhite: I get that sense as well. They want to help - but they won't do so while everything goes directly into Maliki
BGG wmawhite: and other corrupt official's pockets.
wmawhite BGG: after They (investors) want to be ensured that the day after the deposit their operating capital in an Iraqi bank that it will be there the next day.
BGG wmawhite: also known as "Investment Law"
BGG wmawhite: which Abadi promised when he was here in DC.
_firefly_: House of Representatives today completed during its second reading of the new law against money laundering. According to a parliamentary source told {Euphrates News} "The House of Representatives completed the second reading of the draft anti-money laundering before the law on the agenda today."The appearance of Mohammed Saleh Economic Adviser to the Prime Minister Haider al-Abadi, he had confirmed for {Euphrates News} Monday, the House legislation Representatives of the law of the new anti-money laundering would give Iraq the power to recover funds smuggled abroad, explaining that "public money edema to end the statute of limitations, and remain involved wanted Pachtlash by law until cropped law of it. The parliament has been performed earlier in the first reading of the law .
kathi BGG: Since the notes are going international we should see a new rate attached to the notes or they wont' sell, right?
BGG kathi: "the notes"?? I don't think so - but help me understand the ? further... please.
kathi BGG: The bonds, sorry I deal in property notes so messed up. Are the bonds going for sale internationally tomorrow? If so, this means they will have a new rate, right?
BGG kathi: Oh good. Thank you... there have been reports they were to start "shopping them" around tomorrow...
wmawhite kathi: Iraq will be selling what is called Euro Bonds..............those are bonds in another country's currency different from the seller of the bonds.
kathi BGG: They have to have a new rate, no one will buy them at the rate now. It sounds like they already have the rate, we just haven't been able to see it yet.
BGG kathi: however, I am unaware of any "have to" provision requiring a new rate by then - for which, there could be numerous explanations.
diane1: i heard that the bonds did not do so well
BGG diane1: I expect they will go fine - eventually.
wmawhite: Folks,..........bonds are not the indicator we are looking for.
diane1: was that because they did not have a rate? also whatever happened to the Tariffs since they were postponed in August
_firefly_ wmawhite: Bingo my friend !!!!!
BGG diane1: I doubt it - corruption and unrest. More likely...
wmawhite: If I sell you a bonds that states you will receive at maturity $1 million plus 6% interest........do you care what the exchange rate is?
wmawhite: NO
angus: How important is Oct. 1st? Did WB or IMF give some kind of dead line for then?
BGG angus: for Iraq - it is important... for an RV, value, "go button" whatever you want to call it... not as important (other than an AML Law will likely be in placed) ...
BGG wmawhite: Thanks so much for the input
kathi BGG: O.K. now what I am looking at is not put too much emphasis on the bonds, the new currency and the deletion of the 3 zero's is what I would be watching, right?
BGG kathi: You got it!!
BGG: OK gang - that's it for now.
BGG: Be sure to tune in for News Time with Millionday this evening at 7:30pm EST.
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