KTFA, Zang, Maloney and more Tuesday Evening 9-24-19
Josie: A question I have is if they plan on doing a managed float & then cap it,I wonder how long they will float before it is capped?
Hammy14: Josie, we know of two guidelines provided by WS. One, by agreement, the IQD cannot come out initially higher than the Kuwaiti dinar, which is currently at $3.29 vs. the USD.
Two, once the IQD is finally released and starts to float, the value cannot go higher than the Arab Accounting Dinar.
The AAD value is 3x the SDR value. The current SDR value is $1.37 USD, so that makes the AAD current value of $4.11 USD.
IMO, once the IQD reaches the AAD value, they will cap it.....whenever that may be. So, the starting rate will be something less than $3.29 and the cap value will be whatever the AAD value is at that time, currently at $4.11. This is according to what WS has taught us.
OlLar: So I am very confused about Franks call last night , If i understand him he is saying when the rate goes to 1-1 that they are going to use the 250 IQD notes as 25 cents, 500 iqd notes will be used as 50 cents and the 1000 iqd notes will be used as 1 dollar, If that is what he is saying ,that makes no sense , because that is how they are being used now at 1190. So what am I missing?
Rommy : IMO Currently, right now at 1190, the 250, 500 & 1000 notes are not being used as 25¢ 50¢ $1 - that will happen once the new lower demons are issued and they will co-exist for a period of time. When the purchasing power increases (1-1), then a 250 will have approximately the same value as 25¢. Here, maybe watch again at the 2:26:42 mark - Livestream 9-23-19
BWS: Think of it backwards. Right now, their currency is so undervalued that it takes 25,000 dinars to equal the spending power of 25 American dollars. When the rate goes up, 25 dinars will be worth the same as 25 American dollars. But on the international market, a dinar will have a similar value to Kuwait's dinar.
Courtesy of Dinar Guru:
Vital Brad: ...the XE converter that I check in all my videos. I did the exact same process and they've changed their format...in a process that appears it's getting ready so that you can actually exchange and use the Iraq currency like the other currencies on their site...It's got mid-market rates. Live rate. 1 USD = 1191.
There's a transfer fee. But then right now it says, "Unfortunately we are not able to provide online money transfers from USD to IQD at this time."
I've never see that before. That's an exciting change...
MARKET MANIPULATION, HYPERINFLATION, PHYSICAL GOLD PRICES… Q&A with Lynette Zang and Eric Griffin
Streamed live 3 hours ago
Tishwash: Saleh meets Trump on the sidelines of UN meetings: Iraq is responsible for protecting its territory
President Barham Salih met Tuesday with US President Donald Trump.
"President Barham Saleh met with US President Donald Trump on the sidelines of UN meetings," the presidency said in a statement.
Saleh said during the meeting, "Iraq has achieved great victories on terrorism and we are in the process of reconstruction."
The President of the Republic that "Iraq is responsible for the protection of its territory and sovereignty."
For his part, Trump told the President that "the elimination of ISIS is a great achievement."
"Our relations with Iraq are long and good," he said. link
The World's Biggest Gold Investors are on a Buying Spree
Mike Maloney: Premiered 23 hours ago
It happened with little fanfare, with virtually no reporting by the mainstream press. But this development signaled that one of the biggest gold-buying entities sees a growing need to own gold right now.
Not only does it mean they will continue to buy, but their buying lends long-term support to the gold price. Here’s what’s happening and how it impacts the gold market going forward…
Bye-Bye, Central Bank Gold Agreement A total of 21 central banks are part of the Central Bank Gold Agreement (CBGA), mostly in Europe. When it first started in 1999, its purpose was to “balance” conditions in the gold market by, among other things, coordinating gold sales among the various signatory banks.
Through 1999, gold had largely been in a bear market for almost two decades, and central banks were active sellers during the time. So the idea behind the agreement was to keep ongoing sales from spinning out of control and pushing the price down so much that it hurt the value of each bank’s remaining reserves.
So a limit was set on both total sales and individual sales by member countries. This agreement was renewed three times—in 2004, 2009 and 2014. With each new agreement, the caps on sales became less stringent. The fourth renewal expires on September 26 this year, and thus a new one had to be signed by then. But we now know that the CBGA participating banks jointly decided NOT to renew the Agreement. Why?
For starters, they just weren’t selling gold any longer. Here’s the amount of gold sales from the participating banks during the life of the CBGA....