STARDOGGER CHAT - Dinar Vets

[*stardogger] I have been doign alot of reading and research on the Exchange Rate Mechanisim
[*stardogger] i think this most recent news is very promising
[*stardogger] if you all understand what Exchange Rate mechanism is
[*stardogger] listen
[*stardogger] I want you to all listen
[*stardogger] if you all go back to the EU
[*stardogger] before the euro
[*stardogger] same thing happened
[*stardogger] the ERM as it is called
[*stardogger] was put in place to stabalize all the currencies in the member countries
[*stardogger] why would Iraq need to have such a "mechanisim" in place
[*stardogger] think
[*stardogger] the Gulf countries all would have to be aligned in sync and not be allowed to fluctuiate if Iraq RV's
[*stardogger] read this:
[*stardogger] Exahange rate mechanism consist of several member currencies, which are fixed against each other. Although minor variations may exist between them in accordance with European Currency Unit (ECU) rate.
[*stardogger] all countries will need to be fixed against each other
[*stardogger] as NOT TO vary
[*stardogger] think if iraq RV's it would have all the surrounding countries in place go crazy
[*stardogger] unless they had this "mechanisim" in place
[*stardogger] it is very important and if you read between the linkes the CBI stated that the not passing the budjet was to allow the government to obtain the "ERM"
[*stardogger] they need to have the ERM in place to have a budjet
[*stardogger] the deffinition of ERM is that there are "member countries" that participate as Mechanisim to disallow wide fluxuation of currency values
[*stardogger] this would only be needed if Iraq RV
[*stardogger] if Iraq was not going to RV
[*stardogger] then the ERM would not be necessary
[*stardogger] read the first line here:
[*stardogger] Exahange rate mechanism consist of several member currencies, which are fixed against each other. Although minor variations may exist between them in accordance with European Currency Unit (ECU) rate.
[*stardogger] this is very important
[*stardogger] The CBI says the ERM will be in place on the 12th of Ja
[*stardogger] Tuesday
[*stardogger] so if the ERM is in place on the 12th by deffinition the ERM would mean that the IQD would have to be set to have such "mechanisim" to be in place. Do you understand?
[*stardogger] it is an agreement where all member countries agree NOT to spike its currencies by a fluxuation greater than 2.25 percent in either direction
[*stardogger] this creates stability so the RV can happen
[*stardogger] without this "mechanisim" in place it would be crazy
[*stardogger] dont have a rv date, but it wou ld be stupid for iraq to set an erm rate of what it is now. Think about it why would they even need the mechanisim in place if nothing is changing? Make sense?
[*stardogger] this erm is big, it is the birth of this alignment of currencies
[*stardogger] the next phase will be the gcc
[*stardogger] currency
[*stardogger] it is all happening just like the euro people
[*stardogger] the only thing is one country has its currency so far out of whack that it really can't be done until that is fixed
[*stardogger] its all economics
[*stardogger] not even oil
[*stardogger] if you all study the euro and how that all happened it really helps you understand this all
[*stardogger] it wont be soon aurdemus
[*stardogger] it will be a way off
[*stardogger] but first the region will have to have the mechanism in place
[*stardogger] read thsi paste:
[*stardogger] The Exchange Rate Mechanism, shortly refer to as ERM, is a method or technique based on the philosopy of fixed currency exchange rate margin. This system was instituted in 1979 for the purpose of ascertaining the exchange rates within European monetary system of European Union(EU). All the exchange rates were based on the ECU (European Currency Unit), before the euro was introduced in the market. The main objective of exchange rate mechanism is to devise a single currency mechanism.
[*stardogger] the most important point is the last: teh main objective of the exchange rate mechanism is to devise a single currency
[jtl] is Iraq def going to be part ogf gcc though?
[*stardogger] read the last words
[*stardogger] YES
[*stardogger] by deffinition
[*stardogger] READ.[*stardogger] Exahange rate mechanism consist of several member currencies, which are fixed against each other.
[*stardogger] member countries
[*stardogger] read this very carefully
[*stardogger] you can't have an erm by your self
[*stardogger] this action or mechanism is a collection of the member countries
[*stardogger] gulf corrperation council
[*stardogger] if iraq rv'd its currency and then did not have this in place kuwait wou ld be at like 9 bucks
[*stardogger] it would be crazy
[*stardogger] they need to have this mechanisim in place to stabalize the region for the rv
[*stardogger] in the cbi statement they said..
[*stardogger] 5/1/2010 5/1/2010 6:50pm 6:50 pm The Attorney-Sabah al-Saadi on the mass of virtue that not approving the budget means to give the opportunity for the Government to find the exchange rate mechanism, especially in the twelfth of this month for the maintenance of ministries and government institutions.
[*stardogger] read: "give the government opportunity to find the exchange rate"
12:44 AM [*stardogger] issues have been resolved with neighorboring countries
12:44 AM [*stardogger] this deal is changing
12:44 AM [*stardogger] the ERM is big
12:44 AM [*stardogger] what do I think the value
12:44 AM [*stardogger] first its way off value now
12:44 AM [*stardogger] its in the gutter
12:45 AM [*stardogger] so if they are doing the ERM it would be stupid to keep it at the same, becuase you would not even need the ERM if no change was being made
12:45 AM [*stardogger] Chapter 7
12:45 AM [*stardogger] was wondering when that would come into question
12:46 AM [*stardogger] I think the conditions have been back doored and that the chap 7 has been kept at bay as protection mechanism for iraq
12:46 AM [*stardogger] to be relsased at right timing
12:46 AM [*stardogger] you dont hear Kuwat any more cry ing about the 24 billion have you ?
12:47 AM [*stardogger] or missing bodies, persons, artifacts? dispute on borders
12:47 AM [*stardogger] thats so last year
12:47 AM [Frosty] So you are saying its basically an insurance plan (chapter 7)
12:47 AM [*stardogger] its I think been in therory done
12:47 AM [*stardogger] Yes frost
12:47 AM [*stardogger] I do
12:47 AM [kspoolman] *stardogger - thanks for the research. Much more logical and reasonable explaination than anything I've seen from all the bloated Infogurus
12:47 AM [*stardogger] I personally think the chap 7 is like a protection for iraq
12:47 AM [*stardogger] iraq dont need to be released it would have not benifit only detrimate if it was released early
12:47 AM [dinarded] *stardogger That's why they call BK "protection"
12:48 AM [*stardogger] yes yes
12:48 AM [*stardogger] so forge the chap 7 here
12:48 AM [*stardogger] lets focus on RV
12:48 AM [*stardogger] the revalue will only take place when the Mechanisim has been in place with all the member countries
12:48 AM [*stardogger] and where such mechanisim would satisify the IMF
12:48 AM [*stardogger] so that it would not create havoc
12:49 AM [*stardogger] you guys have to understand this is about OIL
12:49 AM [*stardogger] also
12:49 AM [*stardogger] you dont want to wake up and have gas 12 bucks a gallon because Iraq RV'd
12:49 AM [chris0985] So does that mean 12th is the day to RV?
12:49 AM [*stardogger] chris0985 dont have me stick my neck out on that one
12:49 AM [*stardogger] chris0985 dont have me stick my neck out on that one
12:50 AM [*stardogger] I will just say watch the ERM
12:50 AM [*stardogger] watch what is happening
12:50 AM [*stardogger] if Iraq CBI's change the exchange rate for the ERM
12:50 AM [*stardogger] its gonna be IMO to come up to par with the neighboring countries
12:50 AM [*stardogger] there needs to be a balance
12:51 AM [*stardogger] tonyg read the post
12:51 AM [*stardogger] I have no idea
12:51 AM [*stardogger] on rate
12:51 AM [*stardogger] anyone that throws rates out is just funny
12:51 AM [*stardogger] we all dont have a clue
12:51 AM [*stardogger] If you ask me
12:51 AM [*stardogger] I think it will start out low
12:52 AM [*stardogger] only bechase the CBI will want to suck back in all the dinar
12:52 AM [*stardogger] back to the cbi
12:52 AM [*stardogger] then have it drop and change to get more
12:52 AM [*stardogger] CBI wants its dinar back before it goes to 3 bucks IMO
12:53 AM [*stardogger] I think it will be above a buck
12:53 AM [*stardogger] only becuase the CBI wants to kill the romance it has with the dollar
12:53 AM [*stardogger] if it is below a buck then the romance with the dollar is still there,
12:53 AM [*stardogger] but I have no idea
12:53 AM [*stardogger] just like the rest of you guessing on that
12:54 AM [*stardogger] Scooter39 that depends
12:54 AM [*stardogger] IF the ERM rate has been set before then
12:54 AM [*stardogger] rt59 I just know one thing this has all been done before
12:54 AM [*stardogger] nothing new
12:55 AM [*stardogger] if you look at history this all becomes a bit clear
12:55 AM [*stardogger] done
12:55 AM [*stardogger] ok guys I want you all to understand what we are facing here
12:55 AM [*stardogger] in the next week
12:56 AM [*stardogger] IF and a big IF the cbi changes its rate for the ERM
12:56 AM [*stardogger] then it is a no brainer
This room is now moderated. All messages submitted will be directed to room moderators for consideration before being made public.
12:56 AM [*stardogger] I will release modeeration in a min
12:57 AM [*stardogger] I just wanted to say that all of you that bring good things to this board
12:57 AM [*stardogger] are wonderful
12:57 AM [*stardogger] we are all stressed out becuase we all need this to RV
12:57 AM [*stardogger] I am no diff
12:57 AM [*stardogger] just that we are close
12:57 AM [*stardogger] the news of the ERM announcement is big, and that means that things are moving in the right direct
12:58 AM [*stardogger] so lets all keep a watchful eye on this over the next few days.
12:58 AM [danimal] where would we all look?
12:58 AM [*stardogger] an please no bashing, rude remarks, lets all be nice here
12:58 AM [*stardogger] watch the news i will keep it posted here.
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12:58 AM [*stardogger] thank you all