1-4-2013: Iraqi Dinar Guru guesses!!!
1-4-2013 Newshound Guru Kaperoni [Is this true? They told them they could not join until they raised the value of the dinar… and made it an internationally tradable currency.] sorta…there was a committee assembled some time ago to help Iraq with accession to the WTO. This committee told Iraq to get there currency more in line with the USD. Also, if and when you are a full member, you must follow WTO guidelines which adheres to IMF currency practices. Which means to be a member, you must be in Article 8 and a convertible currency.
1-4-2013 Newshound/Intel Guru Flashing Article: “Iraq-Kuwait Relations member: Iraq to emerge from Chapter VII January 2013″ “The first month of the year (2013) will see an end to all outstanding issues between Iraq and Kuwait,” noting that “Kuwait has completed its mission and handed United Nations documents full remove Iraq from Chapter VII.” iraq will be out of ch 7 during january and because of that the rv is imminent. that article was from november 2012…but if u tied up all subsequent events, they will be out anytime during this month. imo, they have a predetermined plan and they are performing accordingly. everything is excellent, i am very very happy.
1-4-2013 Intel/Newshound Guru Poppy3 I think we will have a brighter picture of the exact direction by the 10th of this month. I’m still not convinced on this 3 state deal, I don’t think they will put that together. We are seeing some positive signs, things happening behind the scenes that will help us out.
1-4-2013 Intel Guru Footforward What are the rates going to be? I don’t know. The rate has to be good, Iraq can’t stand on $1. When Shabibi talks about exchanging 1 to 1, he means in country they will exchange USD for lower denoms on a 1 to 1 basis. This won’t affect us. My sources are still looking for this RV right away. I am still looking for this on an any day basis.
1-4-2013 Intel Guru Footforward Iraq has to have a rate of at least $4. I am holding on to double digits. I am not sure how this will come about. I have reason to believe that there are special agreements that have been put in place for higher rates than the actual rates that show up on Forex or bank screens for the dinar that we have. These deals were originally put in place for royalty and government figures, basically they are going to benefit beyond what the rate was going to be. So, I believe that these agreements do exist and that we have been given favor with the right people and that we are going to have special rates for the currency that we have. It will be a one time only thing. Could I be wrong? Yes. Could this change? Yes.
1-4-2013 Intel Guru Footforward For Iraq things are relatively calm. Yes, there is fighting, people attacking other people, bombs going off, but in Muslim culture, you are always going to have that. Someone said that there would be no RV until there were 3 separate states in Iraq. This is not going to happen. Shabibi will come back, make an appearance and whenever the RV hits, he will walk away and Maliki will walk away. Maliki’s goal is not to establish a dictatorship, he is there to hold down the fort, simple as that. If they don’t RV in the next few days, I expect the Standby Agreement, which expires on the February 23rd, will be extended. There is a minimum of 30 days ahead of time to do this. It’s difficult to extend this at the last minute.
1-3-2013 Intel Guru Delta [Question for Delta. Do you think that we will see the Budget and Rate before the 15th?] IMO, YES.
1-3-2013 Newshound Guru SWFloridaGuy 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 frequent anomalies often coincide with trading session openings (US, London, Asia), and the spikes are directly related to the volatility of the USD. Netdania is a hybrid feed of data and the spikes also could represent an arbitrary spread depending on where their source data comes from. The IQD is not currently being traded and always reverts back to the actual value. [post 2 of 2]
1-3-2013 Newshound Guru SWFloridaGuy If someone wants to determine the IQD rate in correlation to another form of currency, they can go about this procedure in a variety of ways. Upon completing the entry procedure the results of the IQD exchange rate (with regard to the respective currency) will show the fluctuations, but the Iraqi Dinar is not currently traded on the FOREX Market. [post 1 of 2….stay tuned]
1-3-2012 Intel/Newshound Guru Poppy3 Things have changed as far as the Vietnam Dong goes. Two sources reported that China has backed off of pushing the RV. I don’t know the details. They anticipate and the Minister of Finance said they possibly will do a small adjustment of their currency if/when the dinar RV’s. But, their actual RV or largest movement of their currency will not take place for 12 – 14 months post RV of the dinar. The reason for that is that they are rated the 5th fastest growing economy in the world, they are doing great. They have a little problem with inflation, but feel they can handle that for the next 12 -14 months. The beauty of this is that if either one, the dong or the IQD, RV’s first then we can load up on the other. I think this is a blessing in disguise for us.
1-3-2013 Intel Guru BOBGETZ6 Awaiting a call from my frozen friend. It has been difficult to get through to Iraq. Also, there has been, and confirmed, a lot of armored car traffic around the banks. All of the signs are good and I await info from my frozen friend who hopefully will get a call soon.
1-3-2013 Newshound Guru Tlar A $1.00 bill is an IOU from the US government just as 1 dinar is an IOU from Iraq. The value of that note/IOU is determined by the exchange rate. The less in circulation the less debt. The economists that speaks in the article above does not understand economics especially in a case such as this. Somebody at the CBI does and that’s all that counts. Remember Shabibi was doing the exact same thing in the auctions and in allowing the banks to sell USD. I think this is a definite sign that Turki is speeding up the repatriation of dinars.
1-3-2013 Newshound Guru Kaperoni Adding more banks, only means more money and more opportunity for corruption. Short term, it be ok, but if they plan to do this extended, it will harm the economy. If they introduce a new dinar or smaller denoms, they can reverse this trend and collect the dollars back into the CBI reserves. it’s not a simple collection, auctions go both ways to stablize the exchange rate/control inflation. Therefore, I am sure they are putting dinar on the streets as well (more than likely 1000, 500, 250, 50).
1-3-2013 Newshound Guru Tlar Article: “Financial expert: dollar sales increase in the central bank auction will affect the hard currency reserves” [one would think that with all these auctions they have had over the years that they would have sucked up most of the dinar by now how much more could there possibly be] Not to be concerned. For every dollar they sell today for 1189, they retire the equivalent dinar in todays exchange rate value. Later if the rate goes 1 to 1 they will be buying back every dollar at one dinar.
1-3-2013 Newshound Guru Kaperoni Article: “Financial expert: dollar sales increase in the central bank auction will affect the hard currency reserves” [one would think that with all these auctions they have had over the years that they would have sucked up most of the dinar by now, how much more could there possibly be] auction dollars are the CBI’s reserves. Too big of currency auctions and you are cutting into your overall reserves. I think there was an article this past spring when the CBI was collecting dinar (17 trillion over 3 months) they said if this continued, it would damage the reserves.
1-3-2013 Newshound/Intel Guru Flashing everything is excellent for the rv anytime now. in the worst case we are just waiting for the signature of Kuwait on the 9 agreements. So i am very happy. this morning i received a call that it will be a three kings day gift…3 kings day is jan 6…but again it is just rumors. the real facts which are not rumors indicate that we are hours, days, but not months away from our blessing.