12-7-2012: Iraqi Dinar Guru guesses!!!
12-7-2012 Intel Guru Footforward I think there is growing number of people trying to get things moving in a positive direction. In June of last year, Shabibi said on TV they were going to RV. So one of two things happened. Either Iraq did everything they needed to do, had everything completely ready to go & someone higher up stopped them from going through with the RV or Shabibi is an idiot and they really didn’t have everything completed. He was just going on TV and saying this stuff for the heck of it. I just don’t happen to believe the latter. Maliki has continuously gone to the UN to asked to be released from Chapter 7. They have a check list, why would he go to the UN if things haven’t been done. The IMF has to approve if you have a free or a managed float. The word is “suddenly”, it’s going to come in at a high level and have a managed float slapped on it right away. There isn’t one event set in stone that can’t be moved signaling the RV has to happen at a particular time. Iraq needs this, the world needs this. I am still looking for this to go at anytime.
12-7-2012 Newshound Guru SWFloridaGuy It may be a long shot but it is possible that the CBI’s numbers are fabricated and that there are really “2 sets of books,” which would suggest a deliberate move where the CBI works in tandem with the IMF and World Bank to conceal the true numbers from speculators and protect their plan. I would imagine that if Iraq is truly preparing to pull off a historic revaluation, furtiveness would be by far the most crucial element due to the potential for abuse and corruption… if (and that’s a HUGE “if”) a historic large currency appreciation is indeed on the way for the IQD, “Fixing the books” would be a smart move.
12-6-2012 Intel Guru TerryK [So you see it taking at least another week before we see the movement of the rates?] nah…IM THINKING SUNDAY NIGHT…CASH OUT TUESDAY and thats what i was told tonight that they are pushing towards…i think we will hear it tomorrow night…but you will not see it on forex until it updates sunday…the rate we are seeing [for the dong] is .478 [48 cents] and its still there as of 1pm today. [Is Dinar going to go at same time as vnd do you think?] they will go at the same time. [still think rate will be over $8.00?] YES. i have my phone on just in case i get that call.
12-6-2012 Newshound Guru Mountainman I’m trying to contain my excitement but it’s very hard to at this point. After years of being invested in Iraq’s currency it finally appears they will be released from sanctions and we will see their currency recover shortly. I’d say they certainly appear to be on track for a significant rate change by the beginning of 2013. Fingers crossed.
12-6-2012 Newshound Guru SWFloridaGuy The persistent Forex rumors are back. I’ve said this before and I’ll reiterate it for the newbies. The Netdania and Yahoo Finance type sites are not Forex brokers/marketmakers. They are just free web based charting tools and the numbers they use are a poor proxy for volume. The IQD is a controlled currency. The CBI determines the exchange rate and must support that rate by maintaining adequate foreign currency reserves to handle capital flows across its borders and the IMF permits them to implement currency controls in order to stabilize their economy during its redevelopment phase. Presently, international banks will not accept the Dinar, and it is not traded on any Forex exchange.
12-6-2012 Intel Guru BOBGETZ6 Ki Moon of the UN is in Iraq supposedly working on chapter 7 resolution and completion. If done within the time frame he is there, we will have an rv. Also the ISX, the Iraqi stock exchange, is due to go international in January and must have an internationally tradeable currency, thus a RV.
12-6-2012 Newshound Guru Breitling This is how we need to look at the rate. There’s 2 phases: 1. The phase we are in now…how they are going to get to the rate they want it at which is $1.13 – $1.17, figure around a buck. 2. The next phase is from $1.17 to $3.20. It could be $1.17 right off the bat, but I don’t think so, I think it will pip up piece by piece to $1.17. Then from $1.17 to $3.20 and after that it’s going to explode in Iraq. Phase 1 – $1.17, phase 2 – $3.20…that’s is what the Ministry of Planning stated what their rate is going to be & how they can support it.
12-6-2012 Newshound Guru LoriC Ban Ki-Moon of the UN and Iraqi leaders are speaking of a “historic time for Iraq.” Not only will they be removed from Chapter 7 after years of being under the UN’s thumb but they will also become financially independent and once again have an internationally traded currency. In my opinion they can sustain anywhere from a 1-3 dollar rate. The timing is the big question. The CBI has said January 2013 since early 2012. They seem to be on track and although I like Shabibi, I think the overhaul with the CBI happened to ensure they stay on track this time.
12-6-2012 Newshound Guru SWFloridaGuy For years now economists have been studying ways to raise the value of the IQD and sustain that growth as well. If they were planning a straight redenomination with no significant rate increase they would have never spent this much time studying the long term effects, in-country (and out) security issues, counterfeiting, dedollarization and how to institute a market-based economy where they are respected as a borrow in the eyes of global capital markets. This is just my opinion of course and I will never be able to prove that a straight RD is not their plan.
12-6-2012 Newshound Guru Adam Montana The revaluing of a currency is not an overnight thing, never was. It’s not something that will be done arbitrarily – it will be well planned, fully supported, and will not happen until everything is in the right place.
12-6-2012 Newshound Guru Doc Moon is in Iraq as has been reported. Our guess is he will convey what was in the Secretary-General’s report. The report basically said Iraq had not made much progress on the political front. It went on to say while some progress had been made with Kuwait there were still outstanding items. Is Iraq making progress – absolutely. Has everything been completed – absolutely not. We are hopefully the outside political pressure will prevail and Maliki and company will comply so we can see the RV in first quarter 2013. As an aside we monitor forex exchanges and major banks around the globe and neither the IQD or VND have showed any appreciable change in recent days. We report, you decide.
12-6-2012 Newshound Guru Doc Many sites are speculating that all is done. Unfortunately these continue to overlook the obvious. We continue with our position Maliki does not want currency reform at least not quite yet. We are reminded his goal appears to be to control every aspect of Iraq to the point of dictatorship. Our opinion is he will release the RV when he feels he has full control. Right now he does not. He does not control the “wealth” of Iraq in that the HCL is not done. He does not quite have full control of the entire GOI in that he continues to release bogus warrants for those that oppose him. We are also reminded that to control the masses he has to keep them in fear and/or dependent on him. This has been confirmed by various sources such as the Secretary-General of the UN, Allawi and others. As the political wrangling works it way out then currency reform can happen. A free market currency needs a stable political environment and assets to support its value.