Post From Peoples Dinar
Stevel & Member Discussion 1-20-16 Part 1 of 2
“An invitation to link the Iraqi dinar to the global economy”
Stevel: Ok folks, here is some charts. Remember, this information is from our team whom eat, breath and live charts because it is there business. This what they found:
The darker more constricted pattern on the lower right hand side it the IQD tracking the price of gold (never going above it, tracking in a 2% range) whereas before it was pegged to the USD which at times was above the price point of gold!
~~~
Stevel & Member Discussion 1-20-16 Part 1 of 2
“An invitation to link the Iraqi dinar to the global economy”
Stevel: Ok folks, here is some charts. Remember, this information is from our team whom eat, breath and live charts because it is there business. This what they found:
The darker more constricted pattern on the lower right hand side it the IQD tracking the price of gold (never going above it, tracking in a 2% range) whereas before it was pegged to the USD which at times was above the price point of gold!
~~~
Here is the link to that 1 Year Chart on XE Currency.
http://ift.tt/1RA4M3T
Note the frequency of change during this period is much higher because gold prices were more volatile than the price of the dollar. You can see this more clearly as you shift to the 1 month chart. Enjoy! Let me know if you need a hard copy of this.
Here is the chart for one year:
http://ift.tt/1RA4M3T
Note the frequency of change during this period is much higher because gold prices were more volatile than the price of the dollar. You can see this more clearly as you shift to the 1 month chart. Enjoy! Let me know if you need a hard copy of this.
Here is the chart for one year:
Here is a more detailed one month:
Now remember, this is way above my level of explaining so I rely on other that are experts in their perspective fields.
Now remember, this is way above my level of explaining so I rely on other that are experts in their perspective fields.
Also, I meant no harm in my comments about MD posts, but rather she does an awesome job and many missed the point. A friend of mine said I was bashing her, or whatever other are posting and saying.
My only comment is the idiot that takes this and tries to make fun of our information is missing many marbles and has no live except to bash our information because they cannot be a productive person in real life. We are all going to pray for that individual.
Remember, for this currency to be an investment is does have to be backed by something other than oil or the USD.
I talked to our team about the countries next to Iraq and feel that a one to one has no signification disadvantageous regarding fair trade. I am going to have another call in the next day or two with our team and I will explain why in more detail that makes perfect sense.
Now, will this happen the way we think? Maybe or maybe not, but it sure does appear to be pointing that direction of being backed by gold. I really do not care on bit if I am wrong, because we are doing our very best to bring the information as we find it and not sugar coat anything.
Also, please quit PM'ing me telling me how disappointed you are that your dreams are crushed because it is not a high rate like you wanted at a $3 plus rate and what appears to be more like a 1:1 rate or a bit higher. I would like to remind you, this is about Iraq and the global economy and not your personal well being or the toys you now cannot afford.
Those will be broke in less than a year anyway. If you want a three dollar rate then leave it under your mattress for another who knows how many years and then get what you want.
Please do feel free to ask any questions and we can and will do our best to provide you with what we can, when we can. Steve
“An invitation to link the Iraqi dinar to the global economy”
Stanleymt said: HI Steve, thanks so much for the info. The question I have is how the process of revaluation of the dinar changes (if any) being pegged to gold. In other words, would it be a gradual or a more sudden increase?
Stevel: There would be no "revaluation" but rather now a value that follows the gold standard. This is what we are being told and how I understand it.
One possible scenario: The CBI will just announce that the IQD is now backed the the gold standard. So if you go to the bank, now any bank for that matter, they would simply looked up the buy rate at the time and pay you in USD that value. Now all banks and investment (exchange companies) will compete for you business where I could see only certain major banks getting involved, I hope this helps. Steve
“An invitation to link the Iraqi dinar to the global economy”
Jimplants said: I could be wrong or I could be right Gold is pretty strong right now and oil might be going to an historic low,to drive countries out of the oil business, so if the IMF wants Iraq to be a strong currency and help bail the world out all the more reason to be gold backed. Time will tell cause they are moving to what we call our finish line and their starting line Blessings Jim
Stevel: I do not believe this to be accurate. Here is one possible reason for the oil to reach its low point. Lets say Saudi Arabia flooded the marked with oil to drop the price per barrel very low, this will in turn make any profits that ISIS is selling from Iraq and then selling it to Turkey making it not all that profitable.
Now when ISIS is done sealing oil and is out of Iraq and under control, I do see the oil going back up in price. The budget in the past was based on oil revenues, but not the budget of 2016.
Yes I might be stretching this a bit, but I cannot find any other great or even good reason for this drastic drop in prices.
13 During the first eight months of the year, public expenditures were compressed owing to the tight financing constraints. Oil revenue amounted to ID 39 trillion, non-oil revenue amounted to ID 5 trillion, and total spending amounted to ID 54 trillion, out of which ID 41 trillion in current expenditures and ID 13 trillion in investment expenditure.
Total spending was about ID 23 trillion lower than the path assumed in the budget. The resulting deficit of ID 11 trillion, or 5 percent of GDP, was financed mostly by the issuance of T-bills subscribed by the state-owned banks Rasheed and Rafidain, of which 4 trillion was refinanced at the discount window of the Central Bank of Iraq (CBI).
The deficit was also financed by the accumulation of domestic arrears estimated at ID 5 trillion at end-April 2015. The government paid all the arrears it owed to the international companies (IOCs) in an amount of $3.5 billion.
The deficit was also financed by a loan of $1.2 billion by the IMF under the Rapid Financing Instrument (RFI) approved by the IMF Executive Board on July 29, 2015.
“An invitation to link the Iraqi dinar to the global economy”
Stanleymt said: Thanks Steve. You said, " they would simply looked up the buy rate at the time and pay you in USD that value." Who would determine the buy rate, CBI, parliament, or economic committee, and what would change the exchange value to a 1:1 which is still a dramatic change from 1:1190?
Stevel: If you had 1000 shares of Microsoft stock and you wanted to sell them, where would you find the asking price? The official Gold code is XAU. Same thing. I hope this helps.
“An invitation to link the Iraqi dinar to the global economy”
goods10 said: Just so I can get a better understanding of what this means for the dinar if it becomes Gold backed. Let's say hypothetically that the switch is flipped today and the dinar is now backed by Gold.
What would the dinar value be at this point? Is it even possible to determine that or is there more to it than just looking at the price of Gold? Thanks
Stevel: What got us thinking about this concept was the GOLD coins that Iraq was trying to introduce into the market. Remember those articles?
New York Gold Spot Price (24hrs) Gold Price Per Ounce $ 1,101.65
Here is how it was explained to me. Lets say the CBI said that one IQD is now backed by one ounce of gold.
It is my understanding that one IQD would be equal to $1,101.65 or a 25K note would be worth $27,541.25 USD, less any spread and fees. I am not a broker so I have no knowledge of how gold is purchased or sold, just stocks on NASDAQ.
Exchange is not my strong point, so you might want to ask someone smarter than myself,
My only comment is the idiot that takes this and tries to make fun of our information is missing many marbles and has no live except to bash our information because they cannot be a productive person in real life. We are all going to pray for that individual.
Remember, for this currency to be an investment is does have to be backed by something other than oil or the USD.
I talked to our team about the countries next to Iraq and feel that a one to one has no signification disadvantageous regarding fair trade. I am going to have another call in the next day or two with our team and I will explain why in more detail that makes perfect sense.
Now, will this happen the way we think? Maybe or maybe not, but it sure does appear to be pointing that direction of being backed by gold. I really do not care on bit if I am wrong, because we are doing our very best to bring the information as we find it and not sugar coat anything.
Also, please quit PM'ing me telling me how disappointed you are that your dreams are crushed because it is not a high rate like you wanted at a $3 plus rate and what appears to be more like a 1:1 rate or a bit higher. I would like to remind you, this is about Iraq and the global economy and not your personal well being or the toys you now cannot afford.
Those will be broke in less than a year anyway. If you want a three dollar rate then leave it under your mattress for another who knows how many years and then get what you want.
Please do feel free to ask any questions and we can and will do our best to provide you with what we can, when we can. Steve
“An invitation to link the Iraqi dinar to the global economy”
Stanleymt said: HI Steve, thanks so much for the info. The question I have is how the process of revaluation of the dinar changes (if any) being pegged to gold. In other words, would it be a gradual or a more sudden increase?
Stevel: There would be no "revaluation" but rather now a value that follows the gold standard. This is what we are being told and how I understand it.
One possible scenario: The CBI will just announce that the IQD is now backed the the gold standard. So if you go to the bank, now any bank for that matter, they would simply looked up the buy rate at the time and pay you in USD that value. Now all banks and investment (exchange companies) will compete for you business where I could see only certain major banks getting involved, I hope this helps. Steve
“An invitation to link the Iraqi dinar to the global economy”
Jimplants said: I could be wrong or I could be right Gold is pretty strong right now and oil might be going to an historic low,to drive countries out of the oil business, so if the IMF wants Iraq to be a strong currency and help bail the world out all the more reason to be gold backed. Time will tell cause they are moving to what we call our finish line and their starting line Blessings Jim
Stevel: I do not believe this to be accurate. Here is one possible reason for the oil to reach its low point. Lets say Saudi Arabia flooded the marked with oil to drop the price per barrel very low, this will in turn make any profits that ISIS is selling from Iraq and then selling it to Turkey making it not all that profitable.
Now when ISIS is done sealing oil and is out of Iraq and under control, I do see the oil going back up in price. The budget in the past was based on oil revenues, but not the budget of 2016.
Yes I might be stretching this a bit, but I cannot find any other great or even good reason for this drastic drop in prices.
13 During the first eight months of the year, public expenditures were compressed owing to the tight financing constraints. Oil revenue amounted to ID 39 trillion, non-oil revenue amounted to ID 5 trillion, and total spending amounted to ID 54 trillion, out of which ID 41 trillion in current expenditures and ID 13 trillion in investment expenditure.
Total spending was about ID 23 trillion lower than the path assumed in the budget. The resulting deficit of ID 11 trillion, or 5 percent of GDP, was financed mostly by the issuance of T-bills subscribed by the state-owned banks Rasheed and Rafidain, of which 4 trillion was refinanced at the discount window of the Central Bank of Iraq (CBI).
The deficit was also financed by the accumulation of domestic arrears estimated at ID 5 trillion at end-April 2015. The government paid all the arrears it owed to the international companies (IOCs) in an amount of $3.5 billion.
The deficit was also financed by a loan of $1.2 billion by the IMF under the Rapid Financing Instrument (RFI) approved by the IMF Executive Board on July 29, 2015.
“An invitation to link the Iraqi dinar to the global economy”
Stanleymt said: Thanks Steve. You said, " they would simply looked up the buy rate at the time and pay you in USD that value." Who would determine the buy rate, CBI, parliament, or economic committee, and what would change the exchange value to a 1:1 which is still a dramatic change from 1:1190?
Stevel: If you had 1000 shares of Microsoft stock and you wanted to sell them, where would you find the asking price? The official Gold code is XAU. Same thing. I hope this helps.
“An invitation to link the Iraqi dinar to the global economy”
goods10 said: Just so I can get a better understanding of what this means for the dinar if it becomes Gold backed. Let's say hypothetically that the switch is flipped today and the dinar is now backed by Gold.
What would the dinar value be at this point? Is it even possible to determine that or is there more to it than just looking at the price of Gold? Thanks
Stevel: What got us thinking about this concept was the GOLD coins that Iraq was trying to introduce into the market. Remember those articles?
New York Gold Spot Price (24hrs) Gold Price Per Ounce $ 1,101.65
Here is how it was explained to me. Lets say the CBI said that one IQD is now backed by one ounce of gold.
It is my understanding that one IQD would be equal to $1,101.65 or a 25K note would be worth $27,541.25 USD, less any spread and fees. I am not a broker so I have no knowledge of how gold is purchased or sold, just stocks on NASDAQ.
Exchange is not my strong point, so you might want to ask someone smarter than myself,
Stevel: A few more constrictive comments:
I personally believe that this is a brilliant idea. This would prevent a massive cash out by IQD holders and countries holding their currency. This will attract major investors to purchase their currency because it now has a value and would be considered an investment.
Then this will also attract all developers to come and be a part of the Iraq's booming growth because contractors will be paid in the IQD which is now worth something and not rendered worthless like it is today.
With the evidence our team has discovered, this is what and how we believe it will play out.
So lets look at both sides of the coin now.
So it is not pegged to to Gold, what else could it be pegged to? Yes the USD, which is still fairly close to a 1:1 or a bit less at the moment, regardless worth something. If there will be no immediate future value, the all will cash in and walk away. So who are the winners here, most everyone including yourselves.
Now it comes out at a $3 plus rate, who is the winners here, again you are, but I do not see how Iraq can support that type of cash out now that oil is so low. Iraq needs to be able to set themselves up for success, not a rate that cannot be sustained.
Any comment is welcome because regardless, we are all winners here, so relax and just let it come to you as Iraq deems necessary and when they are ready. I hope you all quit worrying about this because you cannot control anything about it.
Worrying is causing negative attitudes and debates on this site which is not healthy.
Millionday's posts are very good and extremely helpful. As you can see, she is the only one we even allow on this site, so that speaks volumes for her integrity. Steve
“An invitation to link the Iraqi dinar to the global economy”
VictorD said: Great food for thought. Thanks! My confusion lies with the article from the IMF that was presented last week that laid out a "road map" for Iraq. In step 18 (I think it was) it stated the IQD was to remain pegged with the USD. How does that come into play, or is the current thought that the pegging to gold would happen when that agreement with the IMF expires?
I personally believe that this is a brilliant idea. This would prevent a massive cash out by IQD holders and countries holding their currency. This will attract major investors to purchase their currency because it now has a value and would be considered an investment.
Then this will also attract all developers to come and be a part of the Iraq's booming growth because contractors will be paid in the IQD which is now worth something and not rendered worthless like it is today.
With the evidence our team has discovered, this is what and how we believe it will play out.
So lets look at both sides of the coin now.
So it is not pegged to to Gold, what else could it be pegged to? Yes the USD, which is still fairly close to a 1:1 or a bit less at the moment, regardless worth something. If there will be no immediate future value, the all will cash in and walk away. So who are the winners here, most everyone including yourselves.
Now it comes out at a $3 plus rate, who is the winners here, again you are, but I do not see how Iraq can support that type of cash out now that oil is so low. Iraq needs to be able to set themselves up for success, not a rate that cannot be sustained.
Any comment is welcome because regardless, we are all winners here, so relax and just let it come to you as Iraq deems necessary and when they are ready. I hope you all quit worrying about this because you cannot control anything about it.
Worrying is causing negative attitudes and debates on this site which is not healthy.
Millionday's posts are very good and extremely helpful. As you can see, she is the only one we even allow on this site, so that speaks volumes for her integrity. Steve
“An invitation to link the Iraqi dinar to the global economy”
VictorD said: Great food for thought. Thanks! My confusion lies with the article from the IMF that was presented last week that laid out a "road map" for Iraq. In step 18 (I think it was) it stated the IQD was to remain pegged with the USD. How does that come into play, or is the current thought that the pegging to gold would happen when that agreement with the IMF expires?
Stevel: Maybe this will help:
The government will gradually remove remaining exchange restrictions and multiple currency practice (MCP) with a view to eliminating exchange rate distortions.
Such a move towards acceptance of the obligations under Article VIII of the IMF’s Articles of Agreement will send a positive signal to the investment community that Iraq is committed to maintain an exchange system that is free of restrictions and MCPs for current international transactions and thus facilitate creation of a favorable business climate.
As a first step, the government will, by end-February 2016, amend the Investment Law, or issue clarifying implementing regulations, to remove the limitation on transfer of investment proceeds that gives rise to an exchange restriction, as recommended by a recent technical assistance mission of the IMF.
Ok, so go compare the USD peg and the Gold peg, is it not close? Steve
“Economic analyst: the dollar against the Iraq dinar is not real price”
SteveI: So here is my comment, if Iraq and other feels that pegging it to the USD is not great, do you still feel it is that great for your investment return? Would like to hear your takeaway on this article. Steve
The government will gradually remove remaining exchange restrictions and multiple currency practice (MCP) with a view to eliminating exchange rate distortions.
Such a move towards acceptance of the obligations under Article VIII of the IMF’s Articles of Agreement will send a positive signal to the investment community that Iraq is committed to maintain an exchange system that is free of restrictions and MCPs for current international transactions and thus facilitate creation of a favorable business climate.
As a first step, the government will, by end-February 2016, amend the Investment Law, or issue clarifying implementing regulations, to remove the limitation on transfer of investment proceeds that gives rise to an exchange restriction, as recommended by a recent technical assistance mission of the IMF.
Ok, so go compare the USD peg and the Gold peg, is it not close? Steve
“Economic analyst: the dollar against the Iraq dinar is not real price”
SteveI: So here is my comment, if Iraq and other feels that pegging it to the USD is not great, do you still feel it is that great for your investment return? Would like to hear your takeaway on this article. Steve
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