when do you think the peg is going to be
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when do you think the peg is going to be
Hello,Quote:
Originally Posted by sholmes21
If we knew this, we all would be well on our way for profits.
Seriously, please spend some time reading all the posts on Dinar and you will find a lot of good information.
I think Adster needs to nudge his sources and give us another peg projection!! :cheers:
Kinda reluctant to do it to be honest so as not to disappoint folk. I hear stuff all the time, don't take too much to heart really anymore, but what does stay in my mind is the official article from a CBI insider saying the dinar would significantly increase in 2006. I believe more in articles than rumours. Rumours are great to read but that's about it!Quote:
Originally Posted by whatever
I also believe that with the opening of the ISX in the next 2 months they have to have a convertible and revalued/pegged currency in order to do this. We need the 2 minister posts to be filled asap.
Personally I believe the peg is months away. The elections in Iraq are now 6 months old and a stable and secure government is still not in place. I think Senator Joe Biden (the United States Senate Foreign Relations Committee ranking member) had it right when he said that solving the problem in Iraq will be like the solution for Bosnia...three separate regions...three separate armies...and three separate Presidents. All under the same currency of course. In other words, give everyone breathing room. The Shiites, Sunnis and Kurds have almost a "genetic" hatred for each other and that will never change. Don't quit your day jobs or tell your bosses to stick it quite yet!!Quote:
Originally Posted by sholmes21
danny
The ISX is due to open within 2 months. They can't have a pathetic rate of 1470 to the dollar or every man, woman and their dogs will buy stocks and shares up for next to nothing. A peg will happen with convertibility before the ISX opens. :0)Quote:
Originally Posted by danny51
BTW Adam; Welcome home! We missed you.
EW
This is part of an article I posted on another forum which I think might make some sense to all of us about the situation in Iraqi. It has been written for June 2006...so it is current.
It was written by:
Amir Taheri, formerly the executive editor of Kayhan, Iran’s largest daily newspaper, is the author of ten books and a frequent contributor to numerous publications in the Middle East and Europe. His work appears regularly in the New York Post
Quote:
....The first sign is refugees. When things have been truly desperate in Iraq—in 1959, 1969, 1971, 1973, 1980, 1988, and 1990—long queues of Iraqis have formed at the Turkish and Iranian frontiers, hoping to escape. In 1973, for example, when Saddam Hussein decided to expel all those whose ancestors had not been Ottoman citizens before Iraq’s creation as a state, some 1.2 million Iraqis left their homes in the space of just six weeks. This was not the temporary exile of a small group of middle-class professionals and intellectuals, which is a common enough phenomenon in most Arab countries. Rather, it was a departure en masse, affecting people both in small villages and in big cities, and it was a scene regularly repeated under Saddam Hussein.
Since the toppling of Saddam in 2003, this is one highly damaging image we have not seen on our television sets—and we can be sure that we would be seeing it if it were there to be shown. To the contrary, Iraqis, far from fleeing, have been returning home. By the end of 2005, in the most conservative estimate, the number of returnees topped the 1.2-million mark. Many of the camps set up for fleeing Iraqis in Turkey, Iran, and Saudi Arabia since 1959 have now closed down. The oldest such center, at Ashrafiayh in southwest Iran, was formally shut when its last Iraqi guests returned home in 2004.
A second dependable sign likewise concerns human movement, but of a different kind. This is the flow of religious pilgrims to the Shiite shrines in Karbala and Najaf. Whenever things start to go badly in Iraq, this stream is reduced to a trickle and then it dries up completely. From 1991 (when Saddam Hussein massacred Shiites involved in a revolt against him) to 2003, there were scarcely any pilgrims to these cities. Since Saddam’s fall, they have been flooded with visitors. In 2005, the holy sites received an estimated 12 million pilgrims, making them the most visited spots in the entire Muslim world, ahead of both Mecca and Medina.
Over 3,000 Iraqi clerics have also returned from exile, and Shiite seminaries, which just a few years ago held no more than a few dozen pupils, now boast over 15,000 from 40 different countries. This is because Najaf, the oldest center of Shiite scholarship, is once again able to offer an alternative to Qom, the Iranian “holy city” where a radical and highly politicized version of Shiism is taught. Those wishing to pursue the study of more traditional and quietist forms of Shiism now go to Iraq where, unlike in Iran, the seminaries are not controlled by the government and its secret police.
A third sign, this one of the hard economic variety, is the value of the Iraqi dinar, especially as compared with the region’s other major currencies. In the final years of Saddam Hussein’s rule, the Iraqi dinar was in free fall; after 1995, it was no longer even traded in Iran and Kuwait. By contrast, the new dinar, introduced early in 2004, is doing well against both the Kuwaiti dinar and the Iranian rial, having risen by 17 percent against the former and by 23 percent against the latter. Although it is still impossible to fix its value against a basket of international currencies, the new Iraqi dinar has done well against the U.S. dollar, increasing in value by almost 18 percent between August 2004 and August 2005. The overwhelming majority of Iraqis, and millions of Iranians and Kuwaitis, now treat it as a safe and solid medium of exchange.
My fourth time-tested sign is the level of activity by small and medium-sized businesses. In the past, whenever things have gone downhill in Iraq, large numbers of such enterprises have simply closed down, with the country’s most capable entrepreneurs decamping to Jordan, Syria, Saudi Arabia, the Persian Gulf states, Turkey, Iran, and even Europe and North America. Since liberation, however, Iraq has witnessed a private-sector boom, especially among small and medium-sized businesses.
According to the International Monetary Fund (IMF) and the World Bank, as well as numerous private studies, the Iraqi economy has been doing better than any other in the region. The country’s gross domestic product rose to almost $90 billion in 2004 (the latest year for which figures are available), more than double the output for 2003, and its real growth rate, as estimated by the IMF, was 52.3 per cent. In that same period, exports increased by more than $3 billion, while the inflation rate fell to 25.4 percent, down from 70 percent in 2002. The unemployment rate was halved, from 60 percent to 30 percent......
This is his ending statement which is quite to the point....
Quote:
.....Is Iraq a quagmire, a disaster, a failure? Certainly not; none of the above. Of all the adjectives used by skeptics and critics to describe today’s Iraq, the only one that has a ring of truth is “messy.” Yes, the situation in Iraq today is messy. Births always are. Since when is that a reason to declare a baby unworthy of life?
Azmia,
Thank you for that. What an insightful and profound commentary!