Author Topic: michigander0131] 02/22/2015  (Read 298 times)

Offline MikeH

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michigander0131] 02/22/2015
« on: February 22, 2015, 01:09:46 PM »
12:39 PM [michigander0131] Tomorrow is a new mechanism for buying and selling the dollar http://alsabaah.iq/ArticleShow.aspx?ID=87228
12:39 PM [michigander0131] here is what this article means//
12:40 PM [michigander0131] The CBI is stopping the auctions, effective today This is a fact. We know that the auctions were the primary monetary tool that the CBI used to hold the exchange rate on the street within 2% of the official CBI rate for the dinar. With the Parliament intervening with Article 50 in the new budget, the CBI became hamstrung. First, they said they would go to court to overturn this illegal intervention in their ability to perform their proper function. After consideration, however, they decided to move up the plan to move toward a freely floating currency and entrance into Article 8 of the IMF charter. I personally suspect that eliminating the auctions entirely was always a part of the CBI plan. The Parliamentary intrusion, however, has forced them, apparently, to move up the plan somewhat. I see this as a very good thing for us. Moving from currency auctions run by the CBI to allowing foreign remittances at the bank level is nothing short of huge. Why do I say that? Simply this: foreign remittances only work when the sale and purchase is between “freely convertible foreign currencies” as the definition above states.
12:41 PM [michigander0131] The term “freely convertible foreign currencies” . From Wiki: “Freely convertible currencies have immediate value on the foreign exchange market, and few restrictions on the manner and amount that can be traded for another currency. Free convertibility is a major feature of a hard currency.”
12:41 PM [michigander0131] From this definition we see that the dinar will be moving to the foreign exchange market and that it will be seeking to become a “hard currency.” This, folks, is the true impact of this article. The dinar is about to become internationally recognized, tomorrow. It is just that simple. Now, the question arises: will they also move to a float, or will they keep the dinar locked into the dollar at 1166 to 1?
12:43 PM [michigander0131] There is nothing in and of itself that will require the CBI to move to a float today, or even in two or three weeks. However, over the long run, not allowing the dinar to float will have serious inflationary pressure come to bear on the economy of Iraq.
12:43 PM [Mrs. Seafood ] Hey Mich - do you think it could actually stay at 1166? What would be the purpose of that??
12:44 PM [michigander0131] The rise in the value of the dinar means that imports will become less expensive for local Iraqis. Iraq imports most of its goods and services at this time. Therefore, with lower import prices Iraq will have lower prices overall, or deflation. This is consistent with what I have taught for some time now and is also consistent with the summary of research in Latin America mentioned just above.
12:45 PM [michigander0131] To summarize: the auctions are ending, being replaced with foreign remittances. Foreign remittances are only possible with a freely convertible currency. A freely convertible currency is one that is internationally recognized. In order for this to work, the CBI will have to move from a fixed rate regime to a floating currency or suffer from inflation. Therefore, I predict that they will do so sooner rather than later. I predict within the next 15 to 45 days
12:46 PM [michigander0131] Mrs. Seafood    Im going to watch this play out as the week goes on will have a better idea at end of next week//
12:46 PM [Mrs. Seafood ] Gotcha! Thank you!!
12:49 PM [michigander0131] Mrs. Seafood your welcome if people are not excited about what the next few weeks will bring //then dont know what would get them excited//   
12:50 PM [michigander0131] The Central Bank announced the discontinuation of Basra daily currency 22/02/2015 The Central Bank said that as of Sunday, the Bank's auction will be discontinued and the banking system as a responsible foreign remittances. The Central Bank Governor, Ali al-allaq, is finalizing a new version and leave the old ways coupled with certain circumstances cannot remain the Central Bank Governor who has the functions and tasks and activities of large and important to the national economy " , Stating that "it is not true that the Central remains preoccupied with selling the currency like ATM daily". Observers of market movement that such a step would further depreciation of the Iraqi dinar has steadily for nearly two weeks. http://www.microsofttran ··· %3D25810
12:39 PM [michigander0131] here is what this article means//
12:40 PM [michigander0131] The CBI is stopping the auctions, effective today This is a fact. We know that the auctions were the primary monetary tool that the CBI used to hold the exchange rate on the street within 2% of the official CBI rate for the dinar. With the Parliament intervening with Article 50 in the new budget, the CBI became hamstrung. First, they said they would go to court to overturn this illegal intervention in their ability to perform their proper function. After consideration, however, they decided to move up the plan to move toward a freely floating currency and entrance into Article 8 of the IMF charter. I personally suspect that eliminating the auctions entirely was always a part of the CBI plan. The Parliamentary intrusion, however, has forced them, apparently, to move up the plan somewhat. I see this as a very good thing for us. Moving from currency auctions run by the CBI to allowing foreign remittances at the bank level is nothing short of huge. Why do I say that? Simply this: foreign remittances only work when the sale and purchase is between “freely convertible foreign currencies” as the definition above states.
12:41 PM [.MikeH] michigander0131   
12:41 PM [michigander0131] The term “freely convertible foreign currencies” . From Wiki: “Freely convertible currencies have immediate value on the foreign exchange market, and few restrictions on the manner and amount that can be traded for another currency. Free convertibility is a major feature of a hard currency.”
12:41 PM [michigander0131] .MikeH   
12:41 PM [michigander0131] From this definition we see that the dinar will be moving to the foreign exchange market and that it will be seeking to become a “hard currency.” This, folks, is the true impact of this article. The dinar is about to become internationally recognized, tomorrow. It is just that simple. Now, the question arises: will they also move to a float, or will they keep the dinar locked into the dollar at 1166 to 1?
12:43 PM [michigander0131] There is nothing in and of itself that will require the CBI to move to a float today, or even in two or three weeks. However, over the long run, not allowing the dinar to float will have serious inflationary pressure come to bear on the economy of Iraq.
12:43 PM [Mrs. Seafood ] Hey Mich - do you think it could actually stay at 1166? What would be the purpose of that??
12:44 PM [michigander0131] The rise in the value of the dinar means that imports will become less expensive for local Iraqis. Iraq imports most of its goods and services at this time. Therefore, with lower import prices Iraq will have lower prices overall, or deflation. This is consistent with what I have taught for some time now and is also consistent with the summary of research in Latin America mentioned just above.
User paul1020 [67.189.131.237] (Brewster, NY, US) has signed in.
12:45 PM [michigander0131] To summarize: the auctions are ending, being replaced with foreign remittances. Foreign remittances are only possible with a freely convertible currency. A freely convertible currency is one that is internationally recognized. In order for this to work, the CBI will have to move from a fixed rate regime to a floating currency or suffer from inflation. Therefore, I predict that they will do so sooner rather than later. I predict within the next 15 to 45 days
12:46 PM [michigander0131] Mrs. Seafood    Im going to watch this play out as the week goes on will have a better idea at end of next week//
12:46 PM [Mrs. Seafood ] Gotcha! Thank you!!
12:49 PM [michigander0131] Mrs. Seafood your welcome if people are not excited about what the next few weeks will bring //then dont know what would get them excited//   
12:50 PM [michigander0131] The Central Bank announced the discontinuation of Basra daily currency 22/02/2015 The Central Bank said that as of Sunday, the Bank's auction will be discontinued and the banking system as a responsible foreign remittances. The Central Bank Governor, Ali al-allaq, is finalizing a new version and leave the old ways coupled with certain circumstances cannot remain the Central Bank Governor who has the functions and tasks and activities of large and important to the national economy " , Stating that "it is not true that the Central remains preoccupied with selling the currency like ATM daily". Observers of market movement that such a step would further depreciation of the Iraqi dinar has steadily for nearly two weeks. http://www.microsofttran ··· %3D25810
12:39 PM [michigander0131] here is what this article means//
User Mrs. Seafood [67.84.30.176] (Passaic, NJ, US) has signed in.
12:40 PM [michigander0131] The CBI is stopping the auctions, effective today This is a fact. We know that the auctions were the primary monetary tool that the CBI used to hold the exchange rate on the street within 2% of the official CBI rate for the dinar. With the Parliament intervening with Article 50 in the new budget, the CBI became hamstrung. First, they said they would go to court to overturn this illegal intervention in their ability to perform their proper function. After consideration, however, they decided to move up the plan to move toward a freely floating currency and entrance into Article 8 of the IMF charter. I personally suspect that eliminating the auctions entirely was always a part of the CBI plan. The Parliamentary intrusion, however, has forced them, apparently, to move up the plan somewhat. I see this as a very good thing for us. Moving from currency auctions run by the CBI to allowing foreign remittances at the bank level is nothing short of huge. Why do I say that? Simply this: foreign remittances only work when the sale and purchase is between “freely convertible foreign currencies” as the definition above states.
12:41 PM [michigander0131] The term “freely convertible foreign currencies” . From Wiki: “Freely convertible currencies have immediate value on the foreign exchange market, and few restrictions on the manner and amount that can be traded for another currency. Free convertibility is a major feature of a hard currency.”
12:41 PM [michigander0131] .MikeH   
12:41 PM [michigander0131] From this definition we see that the dinar will be moving to the foreign exchange market and that it will be seeking to become a “hard currency.” This, folks, is the true impact of this article. The dinar is about to become internationally recognized, tomorrow. It is just that simple. Now, the question arises: will they also move to a float, or will they keep the dinar locked into the dollar at 1166 to 1?
12:43 PM [michigander0131] There is nothing in and of itself that will require the CBI to move to a float today, or even in two or three weeks. However, over the long run, not allowing the dinar to float will have serious inflationary pressure come to bear on the economy of Iraq.
12:43 PM [Mrs. Seafood ] Hey Mich - do you think it could actually stay at 1166? What would be the purpose of that??
12:44 PM [michigander0131] The rise in the value of the dinar means that imports will become less expensive for local Iraqis. Iraq imports most of its goods and services at this time. Therefore, with lower import prices Iraq will have lower prices overall, or deflation. This is consistent with what I have taught for some time now and is also consistent with the summary of research in Latin America mentioned just above.
12:45 PM [michigander0131] To summarize: the auctions are ending, being replaced with foreign remittances. Foreign remittances are only possible with a freely convertible currency. A freely convertible currency is one that is internationally recognized. In order for this to work, the CBI will have to move from a fixed rate regime to a floating currency or suffer from inflation. Therefore, I predict that they will do so sooner rather than later. I predict within the next 15 to 45 days
12:46 PM [michigander0131] Mrs. Seafood    Im going to watch this play out as the week goes on will have a better idea at end of next week//
12:46 PM [Mrs. Seafood ] Gotcha! Thank you!!
12:49 PM [michigander0131] Mrs. Seafood your welcome if people are not excited about what the next few weeks will bring //then dont know what would get them excited//   
12:50 PM [michigander0131] The Central Bank announced the discontinuation of Basra daily currency 22/02/2015 The Central Bank said that as of Sunday, the Bank's auction will be discontinued and the banking system as a responsible foreign remittances. The Central Bank Governor, Ali al-allaq, is finalizing a new version and leave the old ways coupled with certain circumstances cannot remain the Central Bank Governor who has the functions and tasks and activities of large and important to the national economy " , Stating that "it is not true that the Central remains preoccupied with selling the currency like ATM daily". Observers of market movement that such a step would further depreciation of the Iraqi dinar has steadily for nearly two weeks. http://www.microsofttranslator.com/BV.aspx?ref=IE8Activity&a=http%3A%2F%2Fwww.altahreernews.com%2Finp%2Fview.asp%3FID%3D25810
12:55 PM [michigander0131] Start Barzani meeting, deputies and officials of the Kurds in Baghdad to discuss financial crisis Sunday, February 22, 2015 11:38 Twilight News / senior source revealed in Erbil, Kurdistan province, Sunday, for a full meeting of the provincial government, headed by Barzani with MPs, ministers and officials of the Kurds in Baghdad to discuss developments in the relationship with the federal government in the light of the recent results of the meetings of the Kurdish delegation to Baghdad .http://www.shafaaq.com/sh2/index.php/news/kurdistan-news/91608-2015-02-22-08-39-28.html
12:55 PM [michigander0131] dianna well when it starts to floate Ill cash a little and watch the market as to when I will cash a little more//
12:56 PM [dianna] didn't you just say the float has started
12:56 PM [michigander0131] dianna dont sell it we will be going into march // just dont sell//
12:56 PM [michigander0131] dianna no said its in the works//
1:09 PM [michigander0131] House of Representatives in connection with the first reading of the law of the private sector 2015/2/21 {Baghdad: Euphrates News} MP for the Reform Movement in the WIN National Alliance Haider Alfoada, Saturday, that the House will be included in its agenda the next few days, the private sector law because of its great importance in supporting the Iraqi economy.
1:09 PM [michigander0131] this will a good session to watch// this is one of the very important laws and they will be reading it tuesdays session// at least hoping//
1:11 PM [michigander0131] To summarize: the auctions are ending, being replaced with foreign remittances. Foreign remittances are only possible with a freely convertible currency. A freely convertible currency is one that is internationally recognized. In order for this to work, the CBI will have to move from a fixed rate regime to a floating currency or suffer from inflation. Therefore, I predict that they will do so sooner rather than later. I predict within the next 15 to 45 days







« Last Edit: March 06, 2015, 01:30:34 PM by MikeH »