Mountain Goat

Mountain Goat – Dinar Guru  The drama of selecting a new prime minister continues…The corona virus is not helping either. Just this week an economist came out and said they should put the dinar on a floatReally? We know this will never happen until they are ready to also raise the rate and get out of these auctions and artificially held down rate. …we have read already many, many articles on the pros and cons of going on a float just inside Iraq. The key is they can not do it “just inside Iraq”. It can not ever happen since the IQD is on a fixed de-facto peg to the US dollar. …This info alone should nullify such requests by these economists.   Yes, the CBI has adjusted the exchange rate from time to time for inflation. This is all they are allowed to do. But this is not a “float”. A float is based on market demand and floats are on an exchange where investors can come in and buy and sell. This will never happen on the artificial rate and process of the currency auctions window at the bankIt is all just talk, talk and more BS from people not responsible for the monetary policy of Iraq or who know how to manage monetary policies for countries.

This entry was posted in Uncategorized. Bookmark the permalink.