3-18-2013: Iraqi Dinar Guru guesses!!!
3-18-2013: Iraqi Dinar Guru guesses!!!
3-18-2013 Newshound Guru Enorrste Article: “Parliamentary Finance: do not oppose the project to delete zeros from the currency .. And postponed for technical reasons” First, the Parliamentary Committee is saying that it has no object to the project of deleting the large notes (three zeros). This is not new. It is also not saying that they are going to act on it until they get the “green light” from Maliki (who is still the holdup). Second, they refer clearly to “dual both currencies” which means that both the current IQD and the new dinar currency will co-exist for at least some period of time. Again, this is not new. In fact the Parliamentary Committee has said that they will not begin removing the large denom notes until 2014. This would suggest, then, that the change to a new currency would occur sometime before 2014, right?
3-18-2013 Newshound Guru Enorrste Third, there is a reference to a law that NEEDS TO BE enacted but has not been enacted yet, although Shabibi had said months ago that this law would be necessary before any change in currency could begin. That law has to do with the “rules” for handling debt transactions. For instance, if I borrow 25000 dinars from you today, and then they change the currency, what will I owe you in terms of the new currency? This is the problem, in a nut shell, because they clearly indicate that “dual both currencies” will co-exist. Now, if we are assuming a free float, then both currencies, old and new, will go up at the same time in value. Therefore, theoretically, I could pay back my debt in either currency. HOWEVER, as the VALUE of the currency rises then a problem also arises. If I borrowed 25000 dinars (worth $21) and the VALUE of the dinar rises to $1 per dinar, then do I owe you $25000? Of course not!
3-18-2013 Newshound Guru Enorrste So, the law must be enacted in order to clarify debt to debtor transactions, both public and private, so that NEITHER SIDE benefits at the expense of the other. This can be done, in my opinion, by using the dollar as the benchmark for the old debts. In other words, if I borrowed 25000 dinars worth $21 in the old currency, then I will REPAY $21 worth of the new currency, whatever value each note has. If it is $1 per dinar, then I would owe you 21 dinars in new currency. If it was $3 per dinar, would only owe you 7 dinars. This article is very important in that it brings to the surface now the essence of the final problems prior to freely floating the currency.
3-18-2013 Intel Guru Terrance Keller I HAVE TALKED TO LEADING SOURCES AND THEY DO NOT KNOW WHAT HAPPENED WITH OUR INVESTMENT LAST NIGHT AS IT SHOULD HAVE HAPPENED, ALL I’M HEARING THIS MORNING IS THAT CHINA IS HOLDING THINGS UP, TRYING TO BUST DOWN THE EURO TO MAKE IT LOOK LIKE ITS NOT HAPPENING…THAT’S WHAT I WAS TOLD. I THINK IT’S ALL SMOKE BEFORE THE STORM.
3-17-2013 Intel Guru OCrush ALSO BIG NEWS THAT CAME OUT TODAY ON THE OIL & GAS ISSUE — IE—- HOW EVERYBODY GETS PAID. Article: “Iraq and the United States sign an agreement aimed at improving the level of transparency in the oil ministry” THIS CAN ALSO BE VIEWED AS A REPLACEMENT FOR HCL — HYDRO-CARBON LAW — WHICH IS A FINAL HURDLE ASSOCIATED WITH THE RV
3-17-2013 Intel Guru OCrush We also heard that parliament will postpone there sessions till the 26th of March. Many of you, I am sure, are upset. DONT BE!! THIS IS AWESOME! They know they have to get laws passed as close to the official release of the budget (gazette) so they can place these laws that they pass in the gazette together. They are all related. Soooo in conclusion…GET READY! We are all excited for you! TEAM WORK AT ITS BEST!!!
3-17-2013 Intel Guru OCrush Ok, Now there is a new timeline. Are you ready!! On the 21st of March we have the UNSC meeting. Now, the 2013 budget has been approved by the deputy minister of finance and committee (10 days, right on the mark the law allows) to the presidency. Now the presidency has 15 days to approve it and place it in the gazette. 15 days is what the law allows, changed or not, it will be placed in the gazette. Sooooo, the last day for this to happen is April 1st :))
3-17-2013 Intel Guru OCrush These are very exciting times!!! The new Iraqi flag has been commissioned:) We were praying so hard to see something on the flag because we believe this is a sign of fresh unity and to move forward. Positive Symbolism is huge:) (new flag, fresh anthem, new money(LD)!
3-17-2013 Intel Guru Frank26 this blessing is already here. IMO, T [Talabani] has been in Iraq for quite awhile and, IMO, the 2013 budget is signed as of today. one of the most powerful things that we shared with you was what the Iraqi citizens told my Teams…that Iraqi TV in the last two weeks has made it very clear to the CITIZENS of Iraq that their currency is about to gain POWER and VALUE…borders are secured…2013 budget is signed…there is so much protection surrounding Iraq and the beauty of it is that it was none of our business while they did it. But, IMO, it is now time to get down to business.
3-17-2013 Newshound Guru Kaperoni Article: “Urgent…..Iraq, Kuwait reach agreement over borders re-determination” [Now, let’s just hope we don’t have to wait for a July UNSC meeting to vote them out of Ch7. Didn’t you say something about looking for a meeting around late April/early May? Is that a scheduled meeting or just an educated guess…] I have seen no scheduled date, but based on the DFI/CBI money I would expect a UN meeting prior. That is if it’s not extended.
3-17-2013 Newshound/Intel Guru BGG Article: “Iraqi National Security Maliki warns of a plan to storm the prime minister” I am not sold on this security situation isn’t a big reason Maliki would (and that it is one of the few ways to imply legitimacy and save his own neck) want the US back and involved in daily security operations. (what it means is – I think this is why he might make such a request)…1) imply the US backing him (not entirely true)…2) a way to save his own neck from the coming wrath.
3-17-2013 Newshound Guru Med IF THEY GET A CURRENCY AND START THE FREE MARKET IT WILL MOVE. BUT THERE IS SUCH A LACK OF FORSIGHT IN THOSE WHO RUN IRAQ AND…AS YOU SEE THEY ARE CLAIMING ONLY TECHNICAL ISSUES AS THE HOLD UP. [maybe they cant figure out how to change the dinar from what we have to the new smalls] THEY EXPLAINED IN THE ARTICLE THAT IT WILL BE DUAL SO THAT IT CAN BE A TRANSITION.