Thread: Welcome, Jeffrey Frankel. A Crude Peg for the Iraqi Dinar.

Originally Posted by Inscrutable

He actually said "for most individual non-Iraqi citizens" but stated because of convertibility?

Now that my heart has calmed down to normal again , my brain is working a little better as well. Again, in all fairness, we also have to stop and think...this article is more than 3 years old. Think back to what was happening in Iraq then and the progress they hae made in the last three years. Though he still views this as a bad investment for some, like Inscrutable says, this is just his opinion...not unlike the opinion of many others all around the world. We just wait and prove them wrong .

Taking into consideration the article is 3 years old and the fact that his opinion has not changed and he says the currency is not convertible tells me he has not kept up with current affairs.

Dinar is convertible in several ways as now some banks sell and buy Dinar and the fact that Jordan, Kuwait, and I think Dubai honor and exchange Dinar.

As I see this is turning ever so slowly in our favor as a total convertible currency as the CBI is doing its best to follow the IMF guide lines to be accepted and approved on article VIII .

His figures of percentages of value on the Dinar linked to the Oil, Euro, and Dollar are a stretch as I think Oil is too volatile but the other two would help calm the value fluctuations some.

I knew it was risk when I went into this and it has already gained 14% in value this year. The CBI can keep doing what they are currently doing and I will be happy.

But they could speed it up some and it would not hurt a thing.

Time is on our side if we can wait a little longer.