12-13-2012: Iraqi Dinar Guru guesses!!!!
12-13-2012 Newshound Guru Breitling It’s a great day for our investment. Article: “The Central Bank authorizes the governor of the bank to reduce the exchange rate to enhance the value of the Iraqi dinar” What they are doing is reducing the dollar supply through the auctions. They are going to reduce the dollar, dedollarize, and reduce the dinar supply in Iraq. They are starting with it. It’s going to gain value. So, congratulations to all of you guys who stuck around. The good news for you is if they do it this way, there is more of a chance for you to make more money. They have pushed their infrastructure, they have changed banking laws and tax laws. Everybody is looking for that one knockout punch, like you will wake up one morning and there is a huge price on the dinar. There was an opportunity that this could have happened, but they have chosen to pip it up & I agree with them. It helps them to build their country cheap, build their infrastructure cheap. Other countries have done this. I am very excited.
12-13-2012 Newshound Guru Adam Montana It truly does look like Chapter 7 is a rubber stamp away from being done – with a resolution on the HCL, I can’t imagine Chapter 7 will be too far behind! And they have indeed been releasing very positive news on the HCL. All in all – it’s a positive outlook on those two matters.
12-12-2012 Intel Guru Blaino OUR WEST COAST BANKING SAYS PINGING CONTINUES AND WE STILL HAVE THE ALTERNATE POSSIBILITY THAT WE MIGHT SEE A FLOAT. THERE IS A LOT OF INTEL CHATTER REGARDING THE “TYPICAL REVAL” AS WELL AS THE FLOAT POSSIBILITY. I LIKE THE FLOAT IDEA. IT JUST SOLVES SO MANY ISSUES, OR SEEMS TO. IT’S ALMOST TOO EASY! CLEARLY, IT WILL DO THE ONE OR THE OTHER. THE BIG MAIN QUESTION IS WHEN AND THE ANSWER MAY BE SOON! MEBBY EVEN SOONER THAN YOU THINK!
12-12-2012 Intel Guru Blaino OK, WELL NOW! THIS COULD BE AN INTERESTING EVENING! FIRST: WE HAVE AN EAST COAST BANK SHOWING 2 INTERESTING NUMBERS AT THE CLOSE. SO, WONDERING IF WE WILL SEE THESE POP SOMEWHERE. $8+ AND $1.92 RESPECTIVELY (IF YOU DO NOT KNOW WHICH IS WHICH, YOU ‘MAY’ BE IN THE WRONG PLACE). NOW, THIS IS PROVING VERY HARD TO CONFIRM BUT NOT FOR LACK OF TRYING AND WE WILL CONTINUE UNTIL WE CAN GET SOLID STUFF. IT’S A GREAT NUMBER. IS IT REAL? THAT’S THE QUESTION!! YOU KNOW WHAT THE RATES I HAVE FELT WERE PREDICTABLE AND REALISTIC AND THESE ARE SUBSTANTIALLY HIGHER BUT, IF THEY PAY IT I’LL SPEND IT! THAT’S A PROMISE!
12-12-2012 Intel Guru Delta The plan is to RV, get out of Chapter 7 and then Maliki will be gone. There is a plan to have someone take Maliki’s place. If they get rid of Maliki now, it will be a big disaster. The standby arrangement is only good for 3 years and was done in 2010. It expires on the 23rd of February and cannot be renewed. So, it should happen any day but not later than February 23rd.
12-12-2012 Newshound Guru Adam Montana One other thing I found noteworthy this week is Maliki selling a piece of his property. It’s a 600 square meter property, and the price is 900 THOUSAND us dollars. 600 square meters is about .14 acres. POINT ONE FOUR – not fourteen! My thoughts on this… if you can get almost a million dollars for a property smaller than a baseball diamond, how “destitute” can Iraq’s future really be? Think on that for a while.
12-12-2012 Intel Guru Frank26 Well Fargo has told me they couldn’t talk to me until Iraq is lifted from Chapter 7. They are not buying or selling dinar until the restrictions are lifted. A source said Wells Fargo is training people to exchange the Iraqi dinar. They were/are being trained from November 28th to the 12th of December. They were told “we will put you to work right away, we will have our holiday & then you will come right back at January 1st to get to work”.
12-12-2012 Newshound Guru Kaperoni 2. “The Board of Directors authorized the Iraqi Central Bank Governor the power to reduce the sale price of the dollar and of 1179 dinars to the dollar to enhance the value of the Iraqi dinar based on market demands.” This appears to be confirmation that the CBI is going to move forward with a free float. They are going to let “market demands” (float) dictate the rate of the dinar as we stated. It appears it will start at the current CBI rate and rise. This authorization is very good news and hopefully we will see something soon.
12-12-2012 Newshound Guru Kaperoni If I am correct, Maliki could initiate some loan through a local bank (through some fictitious company) and default, thus making the CBI spend its funds to reimburse the local bank. He clearly is very clever finding ways to get access to the reserves of the CBI. The question will be, will the IMF and WB allow this? Steve (Newshound Guru Enorrste) does not seem to think so. I am not so sure. The problem with this is it would clearly affect the value of the dinar.
12-12-2012 Newshound Guru Kaperoni I have studied these articles and some checking. There are two main highlighted areas – one good and one bad. Let me explain what I believe is going on…1. “All banks licensed to open letters of credit and funded by the Central Bank of Iraq according to a mechanism designed for this purpose.” This is potentially very bad. This appears to be Maliki’s way to get the CBI’s reserves…the CBI is now in the business of guaranteeing loans and its reserves are the guarantee…IMO, …they now become the collateral for these “open letters of credit.”