Thread: Iraq/Dinar News Until 5/3/07 Midnight CST.

Originally Posted by wciappetta

Add to it this letter on intent remark from 2004 [thanks Darrock]and the picture becomes remarkably clear:

Iraq—Letter of Intent, Memorandum of Economic and Financial Policies, and Technical Memorandum of Understanding

Baghdad, September 24, 2004



II. Definitions
3. For purposes of monitoring under the program, a program exchange rate will be used. This program exchange rate will be the U.S. dollar/Iraqi dinar exchange rate on or about August 31, 2004, as reported by the CBI (ID 1,460 per U.S. dollar).

Exactly, the current rate cannot and will not be indefinite. Something has to trigger them moving back to a pre programme rate. Now whether that is the IC, the HCL, the SBA, well, if we knew that we'd have our reval! Have a look at this below.......goes to show if they can devalue overnight, they can and have revalued overnight.

On March 19, 2003 the interbank rate went from 3249.70 dinar per 1 USD to .32510 dinar to 1 USD. The New Iraqi Dinar wasn’t issued until October 15, 2003.


FXHistory - Historical Currency Exchange Rates

Then on June 30, 2004 the interbank rate changed once again to 1460 dinar per 1 USD. We all recognize this rate as the programme rate from the IMF.

Originally Posted by wciappetta

This says its all done. Super! Closer than the world knows.

It's saying it will be in place by the time of the Summit which some of the articles and even the GOI have stated......

Originally Posted by Adster

It's saying it will be in place by the time of the Summit which some of the articles and even the GOI have stated......

What I mean is they say the law is already finalized....thus confirming some rumors.

Originally Posted by Adster

Exactly, the current rate cannot and will not be indefinite. Something has to trigger them moving back to a pre programme rate. Now whether that is the IC, the HCL, the SBA, well, if we knew that we'd have our reval! Have a look at this below.......goes to show if they can devalue overnight, they can and have revalued overnight.

On March 19, 2003 the interbank rate went from 3249.70 dinar per 1 USD to .32510 dinar to 1 USD. The New Iraqi Dinar wasn’t issued until October 15, 2003.


FXHistory - Historical Currency Exchange Rates

Then on June 30, 2004 the interbank rate changed once again to 1460 dinar per 1 USD. We all recognize this rate as the programme rate from the IMF.

That’s a neat analysis. Interesting how they can change that rate with a simple flip of the switch eh?

Originally Posted by wciappetta

What I mean is they say the law is already finalized....thus confirming some rumors.

Ok Wardy. After looking at a lot of info this really should happen before the end of next month, possibly sooner than later, hopefully! If only these people weren't so greedy and illogical, we should have been on the beach sipping cold ones long ago.

Ho hum.

Originally Posted by wciappetta

That’s a neat analysis. Interesting how they can change that rate with a simple flip of the switch eh?

They can and will do it my friend. I do believe they want it as much as we do, hard to believe at times. Frustrating part is the waiting. But, every day is a day closer to our dreams.

Originally Posted by Adster

They can and will do it my friend. I do believe they want it as much as we do, hard to believe at times. Frustrating part is the waiting. But, every day is a day closer to our dreams.

Absolutely it's coming.

You guys have a lot us captivated with this conversation. I for one and a few others here enjoy this freestyle convo. It keeps us excited! With all the news and analysis, we all have become very savvy of this investment. And I would like to take this opportunity to personally thank you all for your efforts. Keep it coming guys!

T

Looks like the "Think Tanks" juices are flowing today! (Unlike the petit bickering in the other threads) You guys are actually getting me though this Friday. Thanks for the input folks!!

Originally Posted by notazbad2000

You guys have a lot us captivated with this conversation. I for one and a few others here enjoy this freestyle convo. It keeps us excited! With all the news and analysis, we all have become very savvy of this investment. And I would like to take this opportunity to personally thank you all for your efforts. Keep it coming guys!

T

I think we all feed on each others energy. It's a collective learning process and the longer you've been in it the more revealing it becomes.