IQD CALLS Chat Early Wednesday 9-25-19 Part 2 of 2
IQD CALLS Chat Early Wednesday 9-25-19 Part 2 of 2
EricB Young_SC I'm fine with either, just don't want a redenom first... I don't believe they would be soliciting invest from the global community the way they are if they were going to redenom.
Clay EricB wouldnt redenom mean 3+
Doug_W no thyat wold be a RI Clay
Clay right
Clay what would redenom mean
Doug_W new currency
Clay oh no cant see how most countries own dinar
Doug_W its called "Speculation" Clay and when the value goes up and they own it so does theire asset balance sheet
Kaperoni Young just doesn't get it.
Kaperoni Monetary policy just isn't that simple. The CBI needs tools in order to counter or combat inflationary pressure. The pressure will come from significant amount of investment in the country.
And I think everyone can understand that Iraq expects a significant amount of investment over the next few years as a result of them launching the market economy. Which again they are making efforts towards
Kaperoni So everyone should agree that if investment comes into the country there will be significant pressure on the financial system. That pressure comes in the form of inflation. You don't need an article or a document to validate that that's just what occurs and any basic economic book will tell you that
Kaperoni So if you agree that inflation will happen as a result of investment then the CBI needs to go to counter such inflation. And the primary tool used is floating the currency because raising the value offsets inflation.
Kaperoni Having a fixed rate when you have inflation is the worst thing you can do. It'll cause the financial system to spiral out of control
Kaperoni Again these are all just comments that are documented in any economic books on how central banks work the tools they use and inflationary pressure
Kaperoni created by investment
Kaperoni I find it almost comical that a few people in here want to hold me to a standard of proof yet the guru's never proved a thing that they say and everyone believes their nonsense. But I assure you everything that I have documented or stated is provable and is available to be reviewed in factual documentation, reports, or news articles
Zig Kaperoni : Hi...just a sec while I find a question for you posted earlier....
Zig "EricB"@Kaperony @sandyf: "Assuming the CBI is removing large notes from circulation via the auctions, destroying them and crediting them electronically AND assuming all employees in Iraq have bank accounts and the banks aren't distributing large sacks of cash to them AND assuming people in Iraq receiving govt benefits or subsistence also are not receiving large sacks of cash when they walk out of the banks, it would seem the CBI would have a good handle on the large notes in circulation.
My questions are this: Would the CBI be able to manipulate the stated quantity of currency electronically and discreetly? Did past govts that redenominated have these electronic technology/tools at the time they redenominated? Thank you."
Kaperoni The IMF clearly ask the CBI in 2013 to prepare the conditions to float the currency. They didn't use the word float because that's not a technical term. But they used the words.." to move to a more flexible exchange rate policy" which is the same thing
Young_SC Kaperoni Could you kindly please post an statement which source is from the Finance minister, GOI, Alak/CBI IRAQ stating that there is no such thing as an RI/RV/Purchasing power for its citizens.
You are making statements claming it to be factual information without any real relevant source. So can you kindly please provide it for the gentleman including myself and women to see please.
Young_SC In addition to the results achieved on the scope of monetary policy applications internally and convince global financial organizations, the most important official reports issued by them confirmed the success of the policy of the Central Bank to achieve an important transition to the Iraqi economy and achieve stability in the exchange rate and the recovery of the Iraqi dinar and raise its purchasing power, one of the objectives of strengthening the economy.
Zig If you can't have a CIVIL conversation with Kaperoni please don't bother.....Thank You .....not directed at anyone in particular....
Young_SC http://economy-news.net/content.php?id=17644
Doug_W Zig better define "Civil"
Kaperoni Young again you seem to think it's my job to provide you with documentation. There is a wealth of knowledge and research that has been posted over the years that is available for anyone to look it up believe me I have better things to do than to show you some article or quote or document so that you can just read it and disregard it go do your research
Young_SC The "Finance Committee in the Iraqi Council of Representatives announced on Monday (19-August-2019) the" government direction to reinstate the currency and delete zeros from paper currency in order to strengthen the national economy. "
Zig "courteous and polite."..........CIVIL
Young_SC https://www.mawazin.net/Details.aspx?Jimare=61023
Young_SC Kap? Explanation to those articles in print please
Kaperoni Zig, anything is possible Zig but if you are going to speculate I don't do that. But there has been articles out that clearly state that they are paying people electronically. So that is a fact.
There are also articles out that say only about 20% of Iraqi citizens have bank accounts. So that means a lot of physical currency is outside of the banks. So that could not be collected in destroyed until it is turned into the banks.
So there is a significant amount of money that is outside the banking system in physical currency in fact the article I posted the other day clearly gave numbers ranging from a few trillion to 40 trillion.
Anywhere in that range is too much for Iraq to revalue the currency significantly. I use the word significantly because certainly they could revalue a small amount, but they certainly couldn't support any significant revalue
Zig "EricB"@Kaperoni @sandyf: "Assuming the CBI is removing large notes from circulation via the auctions, destroying them and crediting them electronically AND assuming all employees in Iraq have bank accounts and the banks aren't distributing large sacks of cash to them AND assuming people in Iraq receiving govt benefits or subsistence also are not receiving large sacks of cash when they walk out of the banks, it would seem the CBI would have a good handle on the large notes in circulation.
My questions are this:
Would the CBI be able to manipulate the stated quantity of currency electronically and discreetly?
Did past govts that redenominated have these electronic technology/tools at the time they redenominated? Thank you."
Young_SC Kaperoni Kap it kinda is your job to prove us with such documentation. If you state something of your opinion and explain it as factual information then it is wise to provide such with proof or something of relevenance stated in print from the CBI or GOI
Kaperoni And if anybody can prove that Iraq is removing the physical notes, destroying any currency I'm all ears. I've always been about the fax it doesn't matter where they lead but nobody wants to provide any facts the support any other theories. Everyone wants to live in the mythical RV but there is no facts to support any such event
Young_SC Kaperoni Could you please answer
Kaperoni Young, no it's not my job at all
Doug_W @Kaperoni how does the amount in circulation correlate to value I mean look how much USD is out there and our value remains relatively stable
Young_SC Kaperoni well then how can you state something of your opinion being as factual information in your eyes with no evidence/proof?
Young_SC Would you go to a court case stating this person did not commit the crime without any proof or evidence? No disrespect to you
Kaperoni Zig, there is one more thing to the theory of converting physical currency to electronic currency. Even if they were doing that and even if it was provable. It's not the answer because it's still a number that's out there and if they were to LOP the electronic currency they would also have to lock the physical currency you cannot be selective
Kaperoni I meant to say LOP the physical currency
Zig Kaperoni : Okay....that should be addressed to EricB......his questions
Doug_W yes we knew
Kaperoni You can't do one and not the other
Young_SC Kap if certain individuals do not agree with your statement and the CBI had posted the opposite to what you say then it is your job to prove all of us otherwise
Kaperoni Can you imagine if they were to Lop the electronic currency and not the physical currency the chaos that would cause?
Young_SC Kaperoni Are you going to answer?
Zig @EricB: When you return, Kap answered you but addressed me.....
Young_SC Kaperoni Ive kindly showed you a couple of the sources to back up my claim in which i stated the direction Iraq is heading towards. Now could you kindly please provide the source in which that backs up your claim for all in this chatroom to see.
Kaperoni So my point is, none of this is simple and there are basic fundamentals that everyone should agree on that the CBI uses as tools within its capacity to maintain monetary policy in a few understand those tools you'll know that they will have to float the currency if they expect a significant amount of investment. There's no ifs ands or buts it's a must
Young_SC Kaperoni ?
Tebow Kaperoni No float according to the CBI.
Kaperoni And The Wishful Thinking of any kind of significant RV just can't happen. One there's too much money in circulation into it combats the theory and policies of the CBI. Why would they RV the currency circumventing their own tools? The RV is an essence circumventing the ability to counter inflationary pressure and make money from commissions
Zig Kaperoni : IMO where you get into trouble is your being 100% sure of what you say.....not saying anything is wrong with that but you never give an inch......lol
Young_SC Kaperoni Ive asked you very kindly and you still have yet to show/provide any factual information from the CBI or the GOI stating there is no such thing as an RI/RV because of the 42 t out in circulation as you said on numerous occasions
Kaperoni Young I posted an article yesterday clearly stating the CBI had released information indicating an excessive 40 trillion dinar outside of the banking system that in itself is all you need to know that they could never RV you don't need to know anything else it's just a substantial amount of money that just can't be compensated for
Tebow Young_SC he has no proof just an opinion like everyone else
Young_SC Kaperoni Could you kindly please post an statement which source is from the Finance minister, GOI, Alak/CBI IRAQ stating that there is no such thing as an RI/RV/Purchasing power for its citizens.
You are making statements claming it to be factual information without any real relevant source. So can you kindly please provide it for the gentleman including myself and women to see please.
Young_SC Tebow Exactly
Zig Hey give Kap credit for coming in here as often as he does....lol.....not easy......
Young_SC He is just proving my point
Kaperoni Zig, I am 100% positive of what I say because the IMF clearly said it
Tebow Kaperoni you posted an article from an Iraqi TV website
Kaperoni And if you don't believe the IMF has control over the CBI and only can influence them you're wrong because in 2015 they became trustee of the CBI which has given them authority to implement monetary policy. And we have since seen such action
Young_SC Kaperoni It is not hard man lol just post documentation stating from the CBI or the GOI saying we cannot RI/RV because of too much dinar in circulation
Tebow Kaperoni you being 100% positive doesn't make it fact
Young_SC Why is that so hard to understand Kap? It's simple my brother
Kaperoni Tebow if it's in print in the IMF document its 100% fact
Kaperoni There are few of you on this site that either how brain-dead or don't have the ability to make any rational conclusions clearly the facts are out there
Zig Kaperoni : Is it subject to different interpretations?
Kaperoni No it isn't Zig go read the IMF Article IV. The words are easily understood and if you have confusion you can always use a thesaurus
Young_SC Iraq reveals reserves of foreign currency and excludes the float of the dinar
Tuesday, December 26, 2017
Young_SC LINK
Young_SC Kaperoni Could you address that please
Kaperoni I am a provider of information so that people can make rational decisions. You're not a provider of anything except BS
Zig Kaperoni's research, etc. can be found at https://dinaralert.webs.com/researchlibrary.htm Free to access....
Kaperoni Young go do a search there are at least 10 articles in the last 2 years that say that the CBI needs to float the currency. Are you sure you whether you believe it or not they will float the currency because that is the tool that they need if they want investment in the country.
If they don't want any outside investment they don't need to float. But they expect a t billion dollars over the next 12 to 16 months to come into Iraq that will cause inflationary pressure on their financial system there is no ifs ands or buts about it. If that money comes in they will have significant inflationary pressure and the tool for that is to float.
Kaperoni Whether you believe that or not I don't care. But if that pressure is created they will have to float
Young_SC Kaperoni Could you please post 2 of these 10 articles please
Kaperoni So again I tell everyone go read the IMF documents everything to make solid rational decisions on this investment is provided in those documents. If you're too lazy to read the IMF documents and just want to live on the hype of some mythical RV you're foolish
Young_SC I gave you 3 and i can give you more if you want Kap
Kaperoni Young no i wont. Don't be lazy go find them yourself
Kaperoni All right that's enough for one day I got to go back to work in research some documents so you all have fun in your fantasy land
Zig Thanks, Kap.....always exhausting when you visit.