2-10-2013: Iraqi Dinar Guru guesses!!!
2-10-2013 Newshound Guru Kaperoni We all know that the new plan now is a free float. But what is exciting is the actions taken by the CBI to confirm this. Just as…ending the currency auctions supported a “staging rate” of 1 to $1 or about, selling hard currency all over Iraq supports the float. These are clearly two different monetary policies. We are seeing the CBI aggressively sell dollars raising capital at banks and exchange centers in Iraq as the statement said…Iraq is going on the dollar now for a period of time. That period will more than likely be while the dinar free floats to a rate 1 to $1 or higher in the world marketplace. Then, once this is complete, Iraq will switch to a managed float, or pegged basket which is more stable and they can introduce the new smaller dinar notes, etc. And begin to dedollarize. The actions of the CBI are what we need to watch…and these actions are telling us what is about to happen.
2-10-2013 Newshound Guru Kaperoni Studying this whole process a bit further…back in April 2012 [See Dinar Guru Archives] when the CBI said they were ending currency auctions…We all thought…well they need to make the dinar tradable then with an exchange regime so the CBI can generate revenue. But that didn’t happen. So what when wrong? Well for the CBI to say such the dinar would have to be worth 1 to $1 or greater (otherwise there would be demand for the dollar in Iraq for import transactions and the auctions would have to continue to supply that demand). And the SIGIR report mentions..the CBI was about to make the dinar worth just less than the dollar. So we can assume that Shabibi’s plan was clearly to come out with the .90 cents or about “staging rate.” Once Maliki (CoM) pulled the plug we saw Saleh come out and say…”the plan had changed.” in late April or May. Not knowing what that plan was, it took a few months to decipher.
2-10-2013 Newshound Guru Kaperoni [Deciphering recent articles] as they [Iraq] are heavy dollarizing to act as cover while the dinar floats up. That statement implies that at least. So in other words, the Iraqis will dollarize for period of time such as Feb-Dec while the dinar rises to equal or exceed the dollar. Timeframe is just an example though. This article is very interesting considering the IMF deadline of Feb 23rd to improve the “exchange rate regime.” The free float may very well start very soon. It appears this article is about distribution of hard currency (dollars) throughout Iraq in preparation of that event.
2-10-2013 Intel Guru SteveI [Question: forextrader2003: …how long can the RV be held up after the budget approval.,, ] The budget has to be opened and the new rate made official and everything moves forward. Now with all of the budget vote delays, my guess is fairly quickly…I will say not long and can safely say not weeks but most likely days. They are going to move very fast now. If the parliament does not, the people will pressure them into moving even faster.
2-10-2013 Newshound Guru Med NOW THEY DONT WANT TO DO THE CURRENCY EXCHANGE BUT SEEM TO BE WANTING TO SHAVE THE PIPS OFF… HOW MUCH WHO KNOWS THERE HAS BEEN ALOT OF SCUTTLE THAT WE ARE HEARING FROM TRADERS THAT THEY ARE HEARING AS MUCH AS 700 PIPS IN 2013.
2-9-2013 Intel Guru Wife in the Know As you have heard by now, they (Iraq) are reporting yet another delay on approving their 2013 Budget. As I have spoken about in the past, misdirection from articles and false reporting is rampant and also for a purpose. The reason for this is to keep people off balance as to the actual timing of this glorious event. What I have been told is that the Budget will have already been signed off on and be over and done prior to anyone actually hearing about it, this is to keep people looking for the Budget signing and announcement, and not the actual revaluing of their currency. This is still to show within their new so called new Budget vote time frame.
2-9-2013 Intel Guru SteveI [since the approval of the 2013 Budget is based on the dinar’s RV’ed rate and is a very crucial prerequisite of the RV happening, how long can the RV be held up after the budget approval. I remember you saying that it would not be instantaneous but is there a maximum length of time that it would have to happen after the budget is approved?] …I am not certain on the timing. The budget has to be opened and the new rate made official and everything moves forward. I will say not long and can safely say not weeks but most likely days. They are going to move very fast now. If the parliament does not, the people will pressure them into moving even faster.
2-9-2013 Newshound Guru Med NOW OTHER OPTION AND I DO THINK SONNY MAY HAVE HIT IT ON THE HEAD THAT THE SLOW GROWTH ISSUE IS MORE PREVALENT THAN EVER NOW. HE SAID HE PERSONALLY EXPECTS THE DINAR TO MOVE AS MUCH AS 700 PIPS THIS YEAR THAT WOULD BE GREAT. ITS NOT THE FAST SUCCESS WE THOUGHT YRS AGO BUT I WILL TAKE ANY NOW.
2-9-2013 Newshound Guru Med I AM HOPING THAT INTERNATIONAL COMPANIES…TAKE A RISK. INVESTMENT NEEDS TO ENTER IRAQ. MONEY NEEDS TO START FLOWING. ONCE IT DOES THERE WILL BE A HONEYMOON AND IT WILL BE DURING THAT HONEYMOON IS WHEN I BELIEVE THINGS WILL RE PRIME ITSELF AGAIN AND THE OPPORTUNITY FOR SUCCESS FOR US WILL COME.
2-9-2013 Newshound Guru Med LAST NIGHT I HAD A LONG TALK WITH MY GOOD BUD SONNY. I MYSELF HAVE COME TO THE OPINION AND MINDSET MALIKI IS NOT GOING ANYWHERE. THE OPPOSITION IS JUST TOO WEAK AND CANNOT SUSTAIN ANY MEANINGFUL RESISTANCE. NO MATTER WHAT THEY WILL NEED AN INTERNATIONAL CURRENCY. YOU CANT ENTER THE REAL WORLD OF THE INTERNATIONAL ECONOMY WITHOUT ONE.
2-9-2013 Newshound Guru Mountainman Article: “Unlocking Iraq’s True Value: Economic forecasts for Iraq continue to make for pleasant reading. The most recent IMF World Economic Outlook predicted GDP growth of 10.2% in 2012 and 14.7% in 2013 and Iraq has one of the world’s largest oil reserves.” an interesting article where director’s of investment firms are saying 2013 will be a big year for Iraq, their economic growth and investment opportunities.
2-9-2013 Intel Guru SteveI I really did not see this one coming. But here is the good news if any, the people are really can I say the word pissed? This will for sure put the fire under the Parliament to get it done on Monday. So my friends, Monday is the new official date. This is for sure not what I wanted to report, but remember, we only share the facts good or not so good.
2-9-2013 Intel Guru SteveI I have new update for you all. I just got off the phone with my contacts. Here is what happened and this may be very good for all of us, maybe. The Parliament Session was televised to the public last night. The people were assuming that the budget was going to get passed. So the Kurds again caused the problem. They now want 4 Billion to pay all of the oil companies back payments that is owed. So the Parliament is now going to revise the budget again by increasing the budget with a larger number of price per barrel of oil.
2-9-2013 Intel Guru Wife in the Know I do not know SteveI or the others but…I agree 100% with the information SteveI has presented here. It’s truly amazing that their info and timing of receiving it is either a nano second ahead of mine or parallel. This is why I know they are on the level. Smile friends : ) we are almost there!
2-9-2013 Intel Guru SteveI Our sources did share that they were going to vote on the budget Thursday the 5th. They did not complete the vote but did in fact finish adjusting it and they did agree on moving forward. Because Friday is their holy day, not much got done… The Iraq Budget of 2013 was configured and derived with a new dinar rate (and now adjusted). I want you all to watch when the budget is officially posted, recorded, or whatever the case may be, I will tell you that it is now not based on $90 ppb but a different amount (higher). The rate will be returned to a value that is comparable within its region. You should see the new rate within a reasonable time frame…This saga will not drag on for weeks. My contact just called and said he will [be] calling me and sharing what the results of the vote is. So yes they are voting on the budget.
2-9-2013 Intel/Newshound Guru Poppy3 got notice that john kerry [Biden??] will arrive in iraq tomorrow. IF SO FORGET ANYTHING BEING DONE AT THE MEETINGS TOMORROW THEY HAVE NEVER DONE ANYTHING WITH HIM IN THEIR COUNTRY. ONCE HE LEAVES THEY WILL RESCHEDULE AND MOVE FORWARD. THIS IS POPPY3’S THOUGHTS ON…BIDEN SHOWING UP ON THEIR DOOR STEP UNANNOUNCED. GUARANTEE THAT WHY NAJAFI HAS ALREADY ANNOUNCED POSTPONEMENT OF THE BUDGET A 4TH TIME THIS WEEK.