IQD CALLS Chat Early Saturday 10-12-19
IQD CALLS Chat Early Saturday 10-12-19
sandyf @Kaperoni Egypt flooded their currency about a year-and-a-half ago under the guidance of the IMF and an article yesterday talked about how their GDP in Egypt is up to 6% as foreign investment continues to come in the result will be significant including the appreciation of their currency they are a good example even though they don't have anywhere near the oil Iraq has.
The question is - How long will it take Egypt to recover the 50% it lost overnight?
Egypt has floated its currency in a move that has reduced its value by almost 50% against the dollar.
One US dollar is buying around 14 Egyptian pounds, up from the nine Egyptian pounds the central bank was trying to keep it at.
The country's central bank said the move was one of a list of reforms designed to strengthen confidence in the economy.
Egypt's main stock index jumped by more than 8% on Thursday.
The central bank has also increased interest rates by 3 percentage points to 14.75%.
The move is a key requirement of the International Monetary Fund (IMF), from which Egypt is asking for a $12bn loan over three years. https://www.bbc.com/news/business-37857468
Portmagaland Sparky I've had my differences with everyone in this room just about, she wasn't my favorite, but I dont agree with censorship. Just like I dont agree with NYC fining people up to 250k for speech. Sounds a lot like how China deals with HK and the NBA, no?
Arrykn Iraq PM seeks cabinet reshuffle amid calls for resumption of demonstrations https://www.thebaghdadpost.com/en/Story/44254/Iraq-PM-seeks-cabinet-reshuffle-amid-calls-for-resumption-of-demonstrations
larrykn Mnuchin threatens ‘very significant’ sanctions on Turkey https://www.thebaghdadpost.com/en/Story/44253/Mnuchin-threatens-very-significant-sanctions-on-Turkey
larrykn MP: Abdul-Mahdi smears his hands with demonstrators' blood, must be replaced https://www.thebaghdadpost.com/en/Story/44251/MP-Abdul-Mahdi-smears-his-hands-with-demonstrators-blood-must-be-replaced
kevin311312 Portmagaland that is because cuomo is a dictator not a governor.
Shiva On ferates.com/visa/usd the visa exchange rate of the IQD, VND, IDR, and KRW had change with 000 less. IQD=.8403 VND= .0431 what do you thing about that? fake page??
Zig Shiva : :Welcome Only place you should check rate of IQD is https://cbi.iq/
Young_SC Clay Zig That is not a fake page That is actually legit Currency rate's
Young_SC https://ferates.com/visa/usd Shiva Clay Zig
Baxter you mean... my dimes came thru??
Zig The decimal point is in the wrong place.....error.....
Clay it isnt? what does .84 come to Clay1 to 1?
Baxter more than a dime... LOL
Baxter its probably an error..
Young_SC Clay no it's not fake
Clay Young_SC I understand....just an error
Baxter Young_SC so how can u bid... .84.... and ask .0008?
Baxter i dont believe it.. sorry
Young_SC Baxter ok
Baxter Young_SC go back to that same chart and look at mastercard... IQD is .0008
Baxter visa.. is .84...... quite a difference IMO.. its a misprint
Kaperoni Shiva zig is right. Any brokerage website that reports on the dinar is not a value at this time because the dinar is pegged to the dollar and is not a floating currency at this time. So what you're seeing when you look at these other sites if the dinar is fluctuating it is because the dollar is fluctuating
Kaperoni The only website you need to concern yourself with pertaining to the value of the dinar at this time is CBI. IQ
Kaperoni I guess I'll stop back later and see if anyone wants to chat.
Sparky Kaperoni ... hi Kap...
Kaperon iHi Sparky
Zig Oh...sorry....I misread that post.....lol
Sparky Kaperoni ... I ,for myself, want to thank you for what you bring...
Zig Kaperoni : You should stick around.....your detractors are out of the room now.....lol
Kaperoni There's a very good article out today that I retweeted the talks about the new agreement between Iraq and China over oil. There is a significant difference between that agreement and oil at market price and the guru nonsense about oil credits which could never happen
Kaperoni Sparky thanks Sparky
Sparky Zig ... always considered Kap's theory legit...
Kaperoni Zig I had a currency trader stop in over on DA chat room the other night and he was telling me I was right on and that all this other guru RV stuff is such a nonsense. Lol
Zig Find Kaperoni Tweets at https://www.iqdcalls.com/kaperoni.html along with some float articles just above his recorded calls on the left....
Zig Kaperoni : As "RayRen" always says: "Time will tell"......lol
Kaperoni I'm really quite amazed at the progress that Egypt has made the last couple of years following the IMF. If they only had oil the potential for them would be almost as great as Iraq.
Sparky Zig ... think FrancisAlbert brought in some interesting thoughts also...
Zig Sparky : Stuff to ponder...
Sparky Zig ...yup...
Kaperoni Some people look at Egypt when they floated in how the currency depreciated is being a negative I'm sure it was but they don't have nearly the assets that Iraq has so I don't expect the outcome to be the same
Sparky Kaperoni ...when Iraq refines all gas flare offs,...will be another bonanza...imo
Zig Sparky : I keep an open mind as do you.....
Kaperoni Definitely big business
Kaperoni My internet friend dr. Bakri from Iraq surface yesterday if anyone happened to see the article he wrote to the government of Iraq? It's very good and of course talks about the urgency to launch the market economy
Sparky Zig ... I honestly see nothing but blue sky with this endeavor...
Zig Kaperoni : Why the URGENCY?
Sparky Kaperoni ... nice...
Kaperoni Zig, Iraq needs to diversify and create a market economy for many reasons primarily to rebuild and put people to work they just don't have the money to do it on oil alone.
Kaperoni But there are many other reasons including dependence on oil is not a good idea as it is such a commodity
Sparky Kaperoni ...if they could only mitigate corruption... market economy could begin... imo... after checking 7 release, and acceptance of Art 8...
Kaperoni And I thought building a good portion of the market economy expenses into the 2020 budget was a good way to expedite getting this endeavor off the ground. But now with these recent protest I'm reluctant to think that things are going to move forward in the next few months but time will tell
Sparky Kaperoni ... apparently chaos keeps status quo...but, eventually the corruption will be addressed...and they will prosper as a united country...imo...
Kaperoni Sparky they are making progress ever so slowly
Sparky Kaperoni ...yes, but I believe they are making progress...ever so slowly...
Sparky Tebow ... Kap's theory is a possible positive outcome for us... simply not overnight...
Sergio Hello I do not think Kap knows anything about the CBI
Sergio Even before Husain came back into power the IQD was about 2.80 and all they had was oil
Young_SC Sparky i already posted articles from the finance minister from Iraq stating thd opposite of what Kap tells you everyday
Sergio So saying they can’t just use oil to RV is not true.
Sparky Sergio ..." Heyday of the '70's '... Shabbibi...
Young_SC Sparky Once you LOP the currency that is a big failure
Sergio Sparky yup
Young_SC Iraq is not in the position of a LOP their economy is the opposite
Young_SC So where is KAP getting his info from?
Young_SC An economist?
Tebow Young_SC lops are for countries with failing economies
Young_SC Tebow Exactly
Sergio Point 2 the only reason the rate is what it’s at now is because the CBI took a program rate from the IMF
Sparky Young_SC ... we'll still make $...
Portmagaland Kap gets his info from the IMF and the IMF is 100% above the table, right?
Tebow Sergio yes it was change to a program rate, it can be changed back.
Sergio The IQD was never traded by Banks in its history
Young_SC Sparky why do you think the citizens are protesting? And you think the GOI will come out and LOP the currency??? I dont mean to be rude but it is common sense knowing that is a huge disaster
Young_SC Im not sure if you guys understand what a LOP is besides TEBOW AND DAVE
Sparky. ..no brainer for me... unless things go completely sideways... I'll still only lose what I put in...
Sergio As for those who think the IMF is controlling the CBI they are flat out wrong
Young_SC Sparky Kap makes a LOP sound like its a stroll in the park
Sparky Tebow ... currency supply skyrocketed... not the same...
Sparky Young_SC ...get this...they could lop, then float...for accounting purposes...
Tebow Young_SC the 25K note is roughly $26 USD. If they lol it's worth goes to $.026 cents, talk about riots
Young_SC Tebow lolol
Sergio As some of those who know me on here, know I have spoken to the IMF and was told flat out that the currency rate of any country is in the hands of that counties central Bank
Young_SC Sparky no
Young_SC What are you talking about
Young_SC That makes no sense what you just stated
Young_SC LOP currency and then float it back up to a dollar lolol
Young_SC Come on man really?
Tebow Sergio yes, IMF only gives adviceice
Sparky Young_SC ...yup...
Young_SC My goodness you guys confused
Sergio All the Krap that these people come up with holds no water
Sparky Sergio ...IYO, what is our exit strategy ?
Sergio We hold pat. There is no harm in keeping what we got.
Sergio Things can change on a dime and as with anything could be for good or bad
Sparky Sergio ... wise words...
Sergio I bought in 2011 and still holding pat as you can see I check in here from time to time
Sparky Sergio ... I accumulate while I wait...
Sergio Sparky just don’t go to far lol
Sparky Sergio ... potentially better than Microsoft, Amazon, Facebook, and Apple... combine...
Sergio Sparky yes but Amazon was a hard one to swallow when I could got it 10 bucks a share
Sparky Sergio ...yes...but we are in on this one...
Sergio I am in it to win it
Sparky Sergio ...got in in Bitcoin at $60...but lost it in e-coins platform...
Sparky Sergio ... I value your opinion, and thanks for sharing...
Zig Kaperoni : "Sergio" As some of those who know me on here, know I have spoken to the IMF and was told flat out that the currency rate of any country is in the hands of that counties central Bank"
Kaperoni Sergio generally speaking you are correct. But if you go back and read the documents from the last couple of years you will see that in late 2015 the IMF got involved with the CBI with some standby agreements do to Iraq's substantial debt.
As well Iraq was unable to maintain a stable exchange rate and the CBI agreed to give trusteeship to the IMF. So in essence the IMF is controlling the CBI.
And you will see subsequently many accomplishes have been made over the last 2 years as a result including a stable exchange rate within 2%, implementation of many banking mechanisms such as anti-money laundering, etc
Zig Thanks, Kap.....
Kaperoni People also need to realize the connection between the IMF the World Bank in the UN. They're all one entity with the UN being the oversight and when countries are members of the UN they agree as part of the charter to follow those subsequent directives.
Zig I know Sergio....if he says he has spoken to the IMF you can believe him....
Kaperoni Oh I'm sure he may have and technically he is correct that the IMF in their Article IV Consultations is only giving guidance. But with the agreement in late 2015 for trusteeship things changed with Iraq
Sparky Zig ...ok, cool...
Kaperoni It's very easy for these kinds of things to occur when you don't study it every single day and don't read every single document you miss out on a lot and so opinions come into play a lot more than facts. That is why I've told many many people that I read and study this every single day and I find it difficult that anyone knows more about it than I do and that's not an ego thing that's the truth ...who reads more than I do?
Sergio True in part Kap but it had a lot to do with the The Coalition Provisional Authority
Zig Sergio : Hey Serg....read my post above?.....I emailed Butter.....she is well....
Kaperoni Sergio explain
Zig "The Coalition Provisional Authority".......what is that exactly?
Kaperoni That's what I want to know. I know what it is but I want to know what Sergio thinks it is or how it relates to what we were talking about?
Sergio At that time Iraq just got sacked by the US there was really no one to run the country or The CBI. Remember the dictator controlled the CBI at the time. Now that he was gone the US had the controls of everything
Kaperoni Sergio Sergio that has nothing to do with 2015 when Iraq was in Dire Straits financially as a result of low oil prices and the CBI also having issues with maintaining stability ultimately signing an agreement with the IMF to turn over trusteeship
Sergio We decided for Iraq what was going to happen to their currency
Kaperoni You seem to be talking about two different things the CPA was involved in 2003 yes on the transition and the introduction of the Iraqi dinar. But your comments that I responded to we're talkin about the CBI and how the IMF doesn't have any control over them. And my statement simply was in 2015 that changed
Zig Kaperoni : Does the IMF have final say?.....or just strong "influence".....
Sergio The only reason the CBI is following The USA was to take out Isis because they were about to lose their country
Kaperoni Zig I can only go by the definition of trusteeship. Because that was the word that was used in the agreement
Kaperoni And subsequently if you look back over the last two years tremendous progress has been made within the banking system including the 2% compliance, the introduction of several banking reforms all things that Iraq seem to not be able to do on their own which were accomplished in very quick order
Zig One definition I found of trusteeship: "supervisory control"
Sparky Sergio ...Isis not until 2014, when Maliki created the chaos...after losing pm...
Sergio Kaperoni I am on a I phone and can not see right away what you are posting, plus I am a slow typer
Kaperoni Sparky keep in mind when oil prices dropped Iraq was unable to meet their budget. And they knew it. So they needed substantial loans to fill the Gap just so that they could pay their people and those loans came with conditions known as stand by agreements. The CBI also signed one at that time as well due to the reforms that were necessary with the banking system
Sergio Backing troops out put Iraq in danger
Kaperoni I wish I had more time but Zig had sent me a message telling me to comment so I did but I really have things to do this afternoon so I'm sorry this is an interesting topic but I can't participate anymore today have a good day everyone
Sergio Kaperoni thanks for the chat As always we wait
Sparky Kaperoni ...thanks Kap... enjoy the weekend...
Sparky Sergio ... thank you for very interesting input...
Sergio See you can have a opinion disagree and leave it at that.