1-29-2013: Iraqi Dinar Guru guesses!!!
1-29-2013 Newshound Guru Adam Montana With the current state of things, it’s starting to look like the stars are lining up in our favor. I have 100% confirmation from several major banks that they DO have plans to move from “no dinar” to “bring it on!” so… until that RV is announced, we still wait.
1-29-2013 Intel/Newshound Guru Poppy3 We know about the call for the vote on the budget & that doesn’t mean that the RV will happen when it is passed, but it is a step on the ladder and they have made a few steps in the last few days. I think there are two things left before the RV: 1. Dealing with Maliki 2. someone in charge of the CBI that the IMF approves of. I don’t see them working with Turki.
1-29-2013 Intel Guru Gankins We are right on target for the…RV. Should be seeing this all very soon. [Do you think it will go very far into 2013?] no.
1-29-2013 Newshound Guru Med REMEMBER THOUGH THAT IS NOT EXCHANGE RATE, THAT IS THE REPLACEMENT OF WHAT IS OUT NOW VERSUS WHAT THEY WILL RELEASE AND JUST HOW MUCH. THE RATE CAN GO ANY DIRECTION. I STILL THINK THE BEST WE WILL SEE IS AROUND THE SR TO ABOUT .84. THE SR IS ABOUT .28 TO .33.
1-29-2013 Newshound Guru Med I AM JUST GOING OVER… THAT ARTICLE…THE TRANSLATION FOR LIKE THE 20TH TIME. I AM TOTALLY CONFIDENT IN WHAT I DETERMINED IT WAS SAYING. THIS IS ABOUT THE REVALUATION AND DISTRIBUTION OF NEW CURRENCY VALUES. IT WILL BE DONE SLOWLY BUT SLOWLY AS IN HOW THE DENOMS ARE RELEASED. THEY ARE NOT GOING TO FLOOD IRAQ. I AM SAYING BY THE ARTICLE, THE RELEASE OF THE RESTRUCTURED CURRENCY IS GOING TO BE OVER, IT LOOKS LIKE WHAT THEY FIRST SAID, TWO YRS.
1-28-2013 Intel Guru SteveI I am reading (only one) article that says the 2013 budget will be voted on next Wednesday and not this Wednesday. I believe this to be not accurate or they are reporting this in error. I also think this week looks good for this to happen, but I also feel that it very well could go into February. It is coming and it is just around the corner. We are working very hard to acquire some additional information that we can share.
1-28-2013 Intel Guru SteveI What I can share, and this is coming from several of our sources in and around Baghdad, that there is quit a high level of activities taking place. By activities, I am saying there are many countries that have sent diplomats. My assumption is that these countries would not have sent the upper level diplomats for an extended vacation and sit around until the Iraq leaders get their acts together. This just does not many any sense.
1-28-2013 Newshound Guru SWFloridaGuy We can look at that in 2 ways, it’s either saying they’re just going to continue to work with them as they have been or they are working with them on a plan right now. The timing sure does feel good for them to make a move now. Whether that’s a small move or a drastic one, who knows. We’ve seen on par with the USD mentioned many times though. I doubt they’ll go international until the rate is much higher but that’s just my opinion.
1-28-2013 Newshound Guru SWFloridaGuy A month ago the Secretary General of the UN said that regarding compensation, “The Board of Directors of the Compensation Committee of the UN noted Iraq’s commitment to fulfilling its obligations,” and expressed that appreciation continued to the GOI and the Committee of Financial Experts Iraqi for their continued cooperation with the Compensation Committee.
1-28-2013 Newshound Guru Doc What is really interesting here is Maliki was blocking much of these recently enacted laws just a few months ago. We find it interesting that after visits from the IMF, EU, USA, etc. Iraq seems to be moving forward with break neck speed. Did the international pressure finally get to Maliki? Remember the IMF expects Iraq to be a contributing member by 2014. Did he finally relent to the will of all the people? Who knows but whatever the dynamics you have to be encouraged. Things are finally getting done. We still must caution all that Dr Turki said this will be done “soon”. Hopefully soon is a quicker time frame than “in coming days”. We report, you decide.
1-28-2013 Newshound Guru Doc The second statement we enjoyed is “correct value of the currency, must be taken slowly and carefully”. When you look at this with the recent articles from the CBI on monetary policy it suggests some type of float. Yes it could be that they are taking their time to RV to a higher value but coupled with the other articles we do not believe so. The best economic situation for the CBI is to RV at a lower value and let natural market forces drive up its value as Iraq actually produces increased oil supply. We can not see them RVing at the high rates report by some with any type of float. Any little hiccup in regionally stability or oil supply would most likely send the currency plummeting.
1-28-2013 Newshound Guru Doc There are two statements we really find encouraging. First Dr Turki stated they are in process of taking the steps needed to be in position to raise the value. We have speculated in the past that certain laws needed to be in place to sustain stable currency reform over the long term and that Shabibi and now Turki understand a rush to RV would be disastrous. We have recently seen laws get passed such as banking laws, push to join the international electronic banking community, etc. that we have not seen in the past. These are all needed to maintain a stable currency in the long term. The 50,000 pound gorilla (in our opinion) that they lack is HCL. Without this the assets are not secured and the underlying value to support the dinar is not there. Dr Turki rightly linked a raise in value to these assets.
1-28-2013 Newshound Guru Doc We did see the speech by Dr Turki after our last update. We have to admit we are excited. The information in the speech aligns very nicely with the two articles from the CBI we reported on in out last update. First you must be careful and determine if this information is pertaining to currency reform or to the short term goal of getting the street value of the dinar to the program rate. Our opinion is this is in reference to currency reform since Dr Turki tied this value back to Iraq’s assets. Most of the time the short term references are purported as “raise the value in the coming days” and linked to the immediate decline of the dinar and worsening purchasing power.
1-28-2013 Newshound Guru Bondlady Article quote: “The Central Bank issued a decision committed by all private banks and government using banking systems developed to be able to to keep abreast of developments in the international banks. added: that this decision will help to develop the banking sector and to enter the competition in global markets, plus it will help to attract foreign investments and contribute to the development process.” “and to enter the competition in global markets”, international baby…bring it on…when they let them all do the auctions that helped them all to raise their capitol for one which the cbi told them they needed to do and this was a very quick way to do that, as selling usd made all of the banks participating mucho profits and hence raised their capitol to support the loans and the people and to back whatever transactions they needed to also it brought in major amounts of iqd back to the cbi preparing for what we know is about to take place the new money and new rate, i guess i should insert here, IMO, but i think i’m right and if i’m not i’ll stand up and say so.
1-28-2013 Newshound Guru Doc Also Kuwait requested the UNSC continue to keep the Iraq-Kuwait situation on the agenda the rest of the year. This suggests chapter 7 release is [not] eminent as some suggest. We have not seen a closed deal on chapter 7, budget, GOI, HCl and others. We also see Maliki fighting for his political life. We simply do not believe currency reform is at any second since the political climate continues unstable and the Kurds are still considering withdrawing from Iraq. We hope that the current events concerning Maliki are resolved quickly and this fury of activity is actually completed. We report, you decide.
1-28-2013 Newshound Guru Doc We still remain cautiously optimistic at this point. We have seen a fury of positive news in the past only to be disappointed. However the current fury appears to be extremely focused on those things that we believe will preclude currency reform. Our cautious position remains since we are still seeing delays like the budget vote.
1-28-2013 Intel Guru BWM [Is this RV really out of Iraq’s hands?] my firm belief has always been this was out of iraq’s hands TO AN EXTENT… that being, that while this is their currency I don’t feel they are the controlling element in deciding the timing for this being international. I believe you will see all the items come together at roughly the same time which of course will let everyone say “see, I told you so” but at that point most of us won’t care of the other outcomes, IMO.