Replies to post #7276 on Iraqi Dinar Discussion Board (IQD)

[strongtower]

You have a good point but I will give you something to look at, if they want to do a slow reval then why are they rying to ammend Article 4 by LOI's. LOI's only mean one thing, they want the IMF to reavaluate their money. They had a meeting at the end of April and another one in mid may. Iraq now has 28 billion in reserves almost the size of America. And a confirmed oil reserve of 313 billion barrels which equals trillions in reserves. I'm not trying to pump anything but these are valid points to ask your self. Only time will tell the truth. Is it going to be one month or 5 years. We will have to see. I don't know personaly. I will say if they were going to LOP they would of done that by now, I saw an article yesterday that stated they underbudgeted their budget by 1 billion for ration cards. My conclusion is why are they trying to ammend article 4 which strictly deals with an RV by the IMF. And why is the CBI trying to take dinars out of circulation if a LOP is coming, they wouldn't care. M2 numbers say we had almost 22 trillion in dec and we now have 17 trillion. So why are they taking them out of circulationis a good question. That's 5 trillion in a few months and 4 trillion in two months alone. I'm not pumping but just raising good questions.

[Aerospace]

I would be way more scared of this...

This is new... the 23% interest rates and 21 billion in reserves are current numbers.

http://www.almalafpress.net/index.php?d=126&id=35868
Google translation
He said the Iraqi Central Bank Governor Sinan Al-Shabibi that the goal of monetary policy is to achieve price stability and be done by enhancing the effectiveness of the work of all sectors in order to meet the social needs of goods and services, and explained that the Central Bank is issuing new currency and did not want to fall, and there are important economic implications behind the monetary policy, especially at the level of stability in Iraq economically. Shabibi and pointed to inflation, which rose to record rates in past years have witnessed relatively stable in this year amounting to 45%, and the Central Bank has succeeded in forming a high cash reserve amounted to 21 billion dollars. he is a good sum could in turn contribute to the creation of a stability reassuring. And statements come in light of the opposition expressed by the broad economic circles, particularly in the private sector, as well as experts and specialists about the tight monetary policy, and tried to prevent the activation and revitalize economic sectors because of raising interest rates to more than 23%. and the rate is unprecedented in any nation at the regional and global levels, The inflation indices to be calculated incorrectly, so that the results seem positive formality while inflation rises in practice as prices remained volatile for the major commodity groups involved in the account.

I don’t vouch for the source or the accuracy of the translation… but it’s more talk of a new currency.