1-10-2013: Iraqi Dinar Guru guesses!!!
1-10-2013 Newshound Guru SWFloridaGuy The CBI will NEVER delve into specifics and for good reason. If I were the CBI and I was gearing up for a significant move (especially with all the hype surrounding the IQD), I certainly wouldn’t be advertising anything. In fact, I would put out a huge disinformation campaign to discourage speculators. I am very optimistic about what the future holds as is the IMF, World Bank Report, Oil Report and countless independent studies that show Iraq has many options other than a straight RD.
1-10-2013 Newshound Guru SWFloridaGuy If you look at what the CBI has been saying, the plan has been to bring the IQD somewhere on par with the USD. Delete the zeros in itself does not refer to revaluation and is not what we are hoping for. Delete the zeros does not specify how they will achieve that level and points to a RD. If they are going to change the peg to a PEP, broad based commodity, float, move forward with a historic revaluation (Romania former record holder at around 40%) etc., is of course 100% classified.
1-10-2013 Newshound Guru Adam Montana My bottom line on the rate is this: I think the most likely case scenario is that we get an announcement at ten cents, and it is floating. We are given 90 days to cash in, and over the course of those 90 days the value could go up to as much as 30-50 cents… after that we are using new Iraqi Currency (which I will of course reinvest in) and over the next 5-7 years that will likely double as the Iraqi Dinar makes it’s way to 1:1.
1-10-2013 Newshound Guru Adam Montana [Will the dinar to dollar exchange rate need to be better (ie: 1 to 1) in order for the country to do more effective and easier business transactions, or does this even matter?] I don’t think it needs to be “better”, but an even 1:1 exchange rate would be so simple ANYONE can do the math – this is one of the things that tempts me to wonder if they will come out that high and then LOCK the rate until they recapture all the old (current) IQD. But to answer your question, no – it doesn’t “NEED” to be any rate. They could just keep raising it 3, 5,17,135, or any number of pips they want until it finally reaches a final rate.
1-9-2013 Newshound Guru SWFloridaGuy Another interesting development from an article dated tomorrow is that nine points the kurds demanded to move forward with the Erbil agreement/article 140 are back on the table finally. This Sunday the Ministry is sending a delegation to Baghdad to hold negotiations with the federal government to end the dispute and reach a “final agreement.” Couple this with the CBI saying they are going international and I’d say we are looking very good indeed. Next week for a RV? There’s nothing that will every point to a specific time-frame but I see no reason it can’t happen in the short-term due to recent developments.
1-9-2013 Newshound/Intel Guru Flashing Iraq itself does not have much to do with the DECISION that needs to be made on Chapter 7. They have done everything they need to do, they are 100% compliant and there is nothing to legally prevent them from being released unconditionally from Chapter 7 IMMEDIATELY…removal from ch 7 = rv within the same month…we are in an excellent position.
1-9-2013 Newshound/Intel Guru BGG Article: “Urgent .. Parliament begins its meeting to vote on the mandate of the Prime Minister and the Federal Court Act” This is big, big, BIG news. I doubt they got to, or even will get to this immediately. However, the simple fact that they are approaching this subject with such resolve is a spectacular indicator!!
1-9-2013 Newshound Guru Adam Montana Iraq is moving forward more than back, and at the end of the day I’m only concerned with forward progress…they are in TIGHT control of the situation and until the cards are falling right… they’re just not going to pull the trigger. Personally, I can appreciate this. I do NOT want to see them fail, especially after being so patient for so long. If it takes another week, two, a month, or even 6 months – I’d rather hang tight than see this all get wrecked by someone with an itchy trigger finger.
1-9-2013 Newshound Guru SWFloridaGuy Article: “Economic Committee: “The economic and investment committee to install Turki governor to manage the central bank to the attributes of the experience financial and personal internationally acceptable which will be good and positive for the financial situation in the country.” This is an article from tomorrow their time and comes straight from the CBI, not an anonymous source. I need to look at this at some more depth but my initial reaction is that the CBI has decided to make the currency international and bring the value somewhere on par with other countries who have similar robust economies and a bright financial outlook. I haven’t done my due diligence yet but my initial reaction to this is very positive…maybe this was what was needed for us to move forward.
1-9-2013 Intel Gurus SteveI and Ray We feel this ride is just about over now. After the budget approval, there will be no reason not to RV soon. The various government departments need operating monies (and they need it now) and we all know the budget was figured using the new dinar. We will report more as it gets to us. Let’s all pray that Parliament does vote tonight and not fight. There is a lot of great articles out there so just sit tight and hang on a bit longer.
1-9-2013 Intel Gurus SteveI and Ray By the way, Maliki is not going anywhere anytime soon. Our contacts in Iraq feel that the elections will resolve the problem. Furthermore, if he goes this could delay the revaluation which the country just can not afford to do. Folks, we are so close, so let’s pray for the leaders of Iraq to put the citizens of their country first for a change and move Iraq forwards not backwards.
1-9-2013 Intel Gurus SteveI and Ray Another item, that was in a local paper this morning, was that Maliki received a letter from Ban Ki-Moon stating that the United Nations Security Council had approved the lifting of Chapter VII sanctions and that he, Moon, had signed off on it too. He was also informed that a formal United Nations meeting was going to be held later this month just for Iraq and the formal announcement would be made then.
1-9-2013 Intel Gurus SteveI and Ray We finally have some very positive and great information to share with you all today. Contrary to what has been said elsewhere, the 2013 Budget has not been approved yet. They have not been able to get enough members at times to vote and yesterday they had fist fights in Parliament. They are scheduled to vote on it Thursday though. Everything in the budget has been agreed on and all they need now is just a lifting of hands. Many government agencies are screaming for them to hurry up because they need funding. The 2012 Budget has been closed leaving them without any money to operate. I feel this is huge and…it has been reported in many news articles.
1-9-2013 Intel Guru TerryK Thursday is what im being told. However china tried to push it today…they are trying for 2 am est time tonight. I dont know if they will be successful. Let’s not rush into anything. Let’s just take this slow but this is really looking great with all thats going on right now.
1-9-2013 Newshound Guru Tlar It is only a fool who thinks he has solved this puzzle. RV, float or whatever. We have corrupt individuals running the show so there is absolutely no way to make any sense out of what’s going on at this point. Look at this as a good book you are unable/unwilling to put down. We all understand the plot and probably the outcome but the story is yet to unfold as to how or when we will get there. Relax if you can. Be amused by the story. Watch the players for they are all just bit players in a B movie. Enjoy the entertainment. You’ve already bought the ticket. It will come when it comes and when it does, it will usher in a reward for your having been a part of it.
1-9-2013 Newshound Guru Tlar Nothing said yesterday in Iraq can be counted on happening today. Plans change before the concrete dries. Shabibi’s plan – Shabibi’s gone. Shabibi also said do it first of the year. Did not happen. Earlier Shabibi said $1.00. Did not happen. We will just have to wait to see. Nassar said .25 per buck. Studies said $1.13 and recently they said they were going to 1000 to 1. Did not happen. We still have no facts and why should we? If you were in charge and going to raise the value of your currency would you ever reveal when or by how much? Oh, it’s coming alright, but the two questions that we have all asked from the very first time we invested, how much and when, are yet to be answered. That’s why I don’t get too excited either way.