9-27-2012: Iraqi Dinar Guru guesses!!!
9-27-2012 Newshound Guru Adam Montana [will the UST actually cover the cash-in , not Iraq?] No, the UST isn’t covering the dinar at all. Here’s how it works: When the value goes up, banks will begin trading it, and you can go to the bank to cash in. The rate you receive will be based on the buy/sell margin that the banks are able to get through the CBI…if they can’t sell it to Iraq or some other source, then you WILL NOT be able to cash it in. The UST isn’t going to trump or override that fact…speaking of cashing in, everyone should understand how the spread works. I know some dealers say they won’t charge a spread, but they are not mentioning that there is ALREADY a spread built into the exchange rate posted on the CBI, and you MAY get screwed if that is the only way they are verifying the rate!
9-27-2012 Intel Guru BOBGETZ6 [Do you know where it says that Iraq MUST have an internationally tradable currency with a rate of AT LEAST 1:1 to the dollar in order to be released from chap VII?] Per my source…Iraq has to have an internationally tradeable currency but does not have to be 1:1. The IMF has to approve the rate however and they must know that the currency rate is sustainable.
9-27-2012 Newshound Guru Med THIS IS A CRITICAL TIME IN THIS INVESTMENT, CRITICAL AND IT HAS NOTHING TO DO WITH CHAPTER VII …CBI HAS GIVEN THE IMPRESSION THEY HAVE KNUCKLED UNDER TO PRESSURE. I DONT BELIEVE IT. SHABIBI IS JUST NOT LIKE THAT. I AM NOT SURE THAT IRAQ CAN HANG ON MUCH LONGER, DOING WHAT THEY DO. THE ONLY SAVING GRACE FOR THEM IS OIL BUT THINGS ARE NOT GETTING BETTER.
9-27-2012 Newshound Guru Historian anyone who knows the date are not going to talk about it…there are some very deep reasons on why dates come and go… We are moving very close, but it is not possible to predict a date affected by world events…they have a priority to get this done in the near future…we are just waiting on them when they decide…they’ve done everything they need to do.
9-26-2012 Intel Guru Blaino major update, intel and news coming down NOW…Release here in about an HOUR…I’m developing additional confirmations as we read this.
9-26-2012 Newshound Gurus Mike & L. J. We talked about the…article that they are not going to replace the currency during 2013 and that the economic situation is not right – Kurdish language being on there, etc – these two events are NOT tied together to the adding value to the currency.
9-26-2012 Newshound Guru Doc We have been of the opinion around $1 is the ceiling for the initial rate and it possibly could be lower and worked up to $1 over some time. It has been reported Shabibi is indicating something less than 50 cents and working up to $1 over 1-2 years. We must state here we have not been able to confirm this but this scenario would not surprise us. The CBI is privately owned and in business to make money. This scenario is much more economically favorable to the CBI and Iraq as a whole. This would also be more favorable to other governments who will hold the dinar in reserve in that they would benefit from the appreciation. What this does not do is dedollarize the country (which is a stated goal of Shabibi) unless there is a forced redemption of the old currency. As reported this continues to be speculation and we will see in time. We report, you decide. [post 2 of 2]
9-26-2012 Newshound Guru Doc We continue with our waiting and see status. While the news continues favorable nothing of significance has been confirmed. HCL is still looming as are the open GOI seats. Also despite rumors chapter 7 has not been lifted. The UN General Assembly which is meeting now can not lift chapter 7. Only the UNSC can do this. Statements to the contrary are from the misinformed. We are encouraged that the statements from Iraq continue positive around the key issues but we continue to look for concrete evidence that these issues are settled and executed upon. Until then we wait and see. [post 1 of 2….stay tuned]
9-26-2012 Newshound/Intel Guru BGG All the parts of Chapter 7 that need to be relieved so that Iraq can RV their currency is done, but they will never be out of Chapter 7 while they have a budding dictator in place. The news about the National Conference happening or not happening…there is a 50/50 possibility that the National Conference will not have to take place. There is a lot of optimism that Talabani will get everything taken care of away from the National Conference. I don’t see us in a bad place right now, I do think solutions are on the horizon and things will get done one way or another. It could be delayed another week before any kind of solution unveils itself. Big news also is the 9th electoral commission seat is to be voted on Thursday. So, there is a lot of pressure on Maliki and on Talabani to get this thing done. We are in a great place.