IQD Calls Chat With Kaperoni Thursday Eve 8-29-19
IQD Calls Chat With Kaperoni Thursday Eve 8-29-19
Zig FROM KAPERONI.......I have commented several times, I read everything... I know what the CBI says. I know what the IMF and World Bank say..i read it all. Dave does not want to accept reality. That there is no chance for a RV/RI, too much money. And his claim the CBI stated "no float" is ridiculous.
What they said was "no float" when questioned about it at the time of the interview..which was a year ago. Did they float? No. But that does not mean they will not float. In fact, I can find 2-4 articles over the last few years where the CBI talked about floating and never took action. Why? Because they are not ready yet.
Dave needs to understand this is a process. And the process is complicated building a banking system, funding it, creating a sound monetary policy so citizens and investors have confidence, creating the conditions for investment (laws, insurance, etc) and building a market economy offering investments and projects in all fields. This takes years! I assure you, when the time is right, the CBI will float the dinar. They have to!
Zig FROM KAPERONI....Continued.......As investors/investment comes into Iraq and capital flows through the banking system it will create pressure/inflation. Inflationary pressure is resolved by floating the currency. This is a fact.
This is what the IMF was talking about when it told them to create the conditions to allow a gradual appreciation of the currency. The Balassa-Samuelson effect! The good news is it looks like they are trying to force the launch of all this next year with the increase of 72 trillion dinar in the budget.
They do not have this money and are expecting it to come from international investment. This could be successful or be very messy next year wiping out 80% of the reserves. There are only a few options for the CBI, A significant RV/RI isn't one of them.
A re-denominate (LOP) which parliament wants to do is still possible, or follow the directive for successful emerging markets (which Iraq is) and float the currency like they were asked to do in 2013.
Go read my tweets from today as I quote the IMF directive to the CBI. Remember, in 2015 the IMF took over trusteeship of the CBI to fulfill reforms under previous Stand By Agreements and Article IV Consultations...... Kap
Kaperoni Heres a great piece of news for ya... they're going to reprint the larger notes with new additional security features. So much for the RV LO
Kaperoni He stressed that "the new editions of the Iraqi currency now includes new security additions such as transparencies, glossy and stamped, which is difficult for the most skilled counterfeiters to imitate, and that the coming months will see the replacement of the majority of large cash categories such as the category of 10 thousand and 25 thousand and 50 thousand new editions."
foxmulder Well you can throw that article in with all the others ! Along with the ones concerning the coins they are calling for
futuremoney Kaperoni why are you happy about that?
Zig I have stopped trying to figure this stuff out.....will just hold onto my Dinar and wait.....you can read all the articles you want, listen to a lot of opinions, etc...... but in the end we just have no idea how this will play out.......None....
Kaperoni Future, I am happy in the sense of no RV because it is not possible. Like I said many times, with excess of 42 trillion dinar, no country could ever substantially RV their currency. I am tired of the guru nonsense.
Zig Having said that, I have always thought a gradual appreciation made more sense.....
Kaperoni That being said, if this article is true and they are reprinting the existing larger notes with more security feature, they expect them to be in circulation for a while. Which means either nothing is happening or supports a gradual rise/float as I have stated. So far, nothing has proven I am wrong.
futuremoney Kaperoni the article that you was so happy about also voids your idea of a float...sounds to me ( by this article) that they are going to treat all 3 zero notes as they did the old 50 dinar note...turn it in at the old value or you get nothing. I was afraid of this as soon as that happened
Kaperoni Future not true, it surely does not do that. It still includes it and does not rule out a gradual appreciation.
Xyz Zig a gradual appreciation of 1000% in seconds make sense to me too\
futuremoney if they treat the 3 zeros like the old 50 dinar..nobody gets nothing..only their original investment
futuremoney thus a true "deletion of the 3 zeros"
Kaperoni Nobody who is a RV believer wants to admit that is not how monetary policy works..and any central bank would be foolish to RV since it circumvents ability for the CBI to make money.
xyz Lira had 15% in seconds ---> Turkish Lira Flash Crashes, Plummets 15% In Seconds https://www.zerohedge.com/news/2019-08-25/turkish-lira-flash-crashes-plummets-15-seconds
Kaperoni central banks make money buying/selling with commissions. A RV circumvents that ability.
Kaperoni The whole idea of a RV is stupid
xyz @Tebow would call that an rv
futuremoney we will see
Zig Kaperoni : The Gurus would never stray from saying it will RV because they would lose their followers fast.....they need the promise of instant riches to hold their audiences.....I would be happy just to make money from this no matter how it gained value......
Kaperoni future, I do not understand your theory on the 50?
Kaperoni yes Zig!
xyz Kaperoni would you call Lira's 15% float or rv or dv
Kaperoni xyz i dont follow many other currencies so I would have to look into it
Kaperoni But I do know Russia and Egypt are two of the best performing currencies this year. Both about 7-10% range
xyz Kaperoni this happened on Sun, 08/25/2019. I wonna hear your opinion
Zig xyz : Can you really compare the Dinar with other currencies?
futuremoney they gave people a month to redeem their 50 for another currency or they would hold collector currency..they can do the same to the 3 zero notes
Kaperoni future, unlikely. different situations
Kaperoni btw, Egypt went to a float a year or so ago. lol
futuremoney Kaperoni how so?
futuremoney got rid of the 50 within a month
Kaperoni future, the 50 was discontinues because it was worth .05 cents and nobody used them. The larger 3 zero notes are in circulation and the primary notes for commerce. Their is a difference
futuremoney no dif...they still got rid of a note in that fashon
Kaperoni no, the CBI told of the 50 a year in advance. only once that year was up did the dinar dealers offer a 30 day exchange.
Kaperoni more than likely because many people had purchased 50s and were complaining to dealers.
Kaperoni I also believe the year notification was a IMF requirement.
Zig Kaperoni : So do you plan on doing what you have been doing until SOMETHING happens or will you soon take a break???
xyz Zig yes whyNot?
Kaperoni Zig, im retired. this is what I do..for fun of course.
Zig xyz : Not you....lol
xyz currency is currency that got an iso code
Zig Kaperoni : LOL....you call this fun???
Kaperoni despite what some want to accuse me of, I never have made a dime on anything to do with the dinar.
xyz Kaperoni you owe me one
Kaperoni Zig it can be fun, yes
Zig Kaperoni : Hardly anyone will believe that....you know that.....
Kaperoni Zig, since I don't own a website how would I make money?
Kaperoni commenting that it wont RV? lol
xyz Zig ;Thud
Zig Kaperoni : By getting paid from the site owner.....lol
Kaperoni Zig, the site owner is dead. He died 2-3 years ago
Zig Okay....the current owner
Kaperoni His son keeps it going for members who want to read our posts. lol
xyz Zig If Kaperoni answer my question honestly, then I promise never to use :popcorn
Kaperoni There are several who post on that site. They must all be making money then
Zig LOL.....Right, Z.....
Zig Kaperoni : Well you are the attraction.....THE STAR!!!!
Kaperoni xyz what is the question?
Kaperoni I post here zig, I must be getting paid
xyz @Kaperoni would you call Lira's 15% float or rv or dv
Kaperoni xyz, sorry cant answer. I know nothing about the Lira
xyz Kaperoni assume it was IQD
Kaperoni I dont assume anything
Zig A 15% increase in the IQD would be peanuts.....lol
Kaperoni Zig, not really, it would be the top producing currency
PM Zig In terms of us making money.....
xyz Kaperoni would you call dinar 1000% change in seconds float or rv?
Kaperoni If they float, it could take months or even years to get to something that we would accept.
Kaperoni xyz, I would call that a RV
Zig would go to 1011.....from 1190.......
xyz Yes Kaperoni is an RV believer not a float .... I knew it ... I knew it
Kaperoni couple years maybe a .25 quarter
Zig xyz : LOL....you are really something.....
Kaperoni but how fast is directly related to the investment and pressure created on the financial system in Iraq.
xyz Zig making the record straight. Its the % that matters - whether to call it a float or RV
Kaperoni that is what the Balassa-Samuelson effect is
xyz Kaperoni now you are good with Z
xyz Kaperoni you should visit us more often
Zig xyz : Semantics.....lol.....who cares what it is called.....JEJEJE....... :na;
Kaperoni Iraq would be foolish to raise the value without any benefit. They want to rebuild and want foreign investment. The more money that comes to Iraq, the greater the chance they will allow the dinar to appreciate.
xyz Zig nope not sematics ---- float vs RV has gone for yrs. Today Z know the difference
Zig xyz : "you should visit us more often"............ ;Thud
Kaperoni well Zig, I had my fun..need to go back to bashing gurus on Twitter. lol
xyz Kaperoni assume Iraq is foolish as they have demonstrated in the past and raise the value aka RV
Kaperoni have a good day
Zig Kaperoni : Doing another call soon??
Kaperoni we do calls when there is stuff to talk about
Kaperoni not enough yet
xyz Kaperoni you can talk about the breaking news
Zig Kaperoni mainly hangs out at https://dinaralert.webs.com/
Kaperoni I will say this..
Zig You can find his tweets and conference call recordings at https://www.iqdcalls.com/kaperoni.html
Kaperoni if the gurus knew anything they would have told us that the cabinet was almost completed
Kaperoni it was announced yesterday on the UNSC webcast
xyz Kaperoni well @Tebow call you a guru haha
Kaperoni all postions are filled except for Minister of Education.
Zig xyz : Most people call Kap a Guru......
Zig Comes with the territory.....lol
xyz Zig he is pretending not to be a guru
Kaperoni I dont mind at least I know what I am talking about
Zig We lump them all together.....lol
Kaperoni Ok later.
Young_SC Kaperoni you forget to add in the topic of purchasing power for its citizens
Baxter DOES that mean it will be years for my dime
Dave The Balassa-Samuelson effect! Does that mean break out the wheel barrows and 1000 coins for that coke? <@5203486|Zig?
Dave that would not be hyper inflationary?
Dave stuck on note count........??????
Young_SC Dont bother Dave
Dave Glad Kap reads everything......but favors his opinions over CBI
Young_SC Iraq does not have the money so they will rely on foreign investments lolol
Dave kap sent some arabic link......makes sense to him...I do not read Arabic
Tebow FROM KAPERONI - ''CBI stated "no float" is ridiculous'. Seems Kaperoni does not want to accept reality!!!! Kap - What they said was "no float" when questioned about it at the time of the interview..which was a year ago. Much better than old articles years in the past you reference! KAPERONI - As investors/investment comes into Iraq and capital flows through the banking system it will create pressure/inflation. Inflationary pressure is resolved by floating the currency. This is a fact'. No it's not a fact because you said so!.
Dave Global at the nominal rate......and floating ........Never words from CBI......Still await Kaps PROOF on that......
Tebow Dave We are awaiting for a lot of proof!