Iraqi Dinar Guru opinions 1-6-14
Iraqi Dinar Guru opinions 1-6-14
1-6-2014 Newshound/Intel Guru BGG Parliament lifted their session until Tuesday. They have an agreement on approval of 5 major pieces of legislation. 2014 will see significant changes in the investment laws. A lot of economic factors will change in 2014. I think the next couple of days and for sure the next 7 & 8 days are probably pivotal in this investment. I am very excited that January 15th is a legitimate window. I like the way things are unfolding. It hasn’t gone exactly as we would have liked, but things are moving right along. I think that the next few days could be very exciting for this investment.
1-5-2014 Intel Guru Delta Article quote: “The General Secretariat of the Council of Ministers that tomorrow, Monday, January 6 will be an official holiday for the departments and institutions of the state.” IRAQI GOV ANNOUNCED MONDAY AS HOLIDAY FOR ARMY DAY.
1-5-2014 Newshound Guru Tlar “CBI press release – Akralbenk Central on 13/12/29 a public auction bidding (C100) for bank transfers for sale (91)” I saw what I thought was an article sent to me by a friend. As it turns out this article was part commentary. …these bond sales, the bond sales due for January 7th are not the ones we are looking for. these are normal bond sales.
1-5-2014 Newshound Guru Kaperoni Article: “CBI press release – Akralbenk Central on 13/12/29 a public auction bidding (C100) for bank transfers for sale (91)” Looks like a reference to this bond sale…These are regular 90 day investment bonds, not bonds for monetary purposes. There is a bad rumor being perpetuated that bonds for monetary policy start January 7th. This is completely false. The CBI has monthly bond sales (as they have for a several years) to fund projects and these are 90 day bonds and posted on the CBI website… The chart showing auction dates posted on the CBI is referring to these bonds and not bonds for monetary policy (sold in dinar) which are long term (a year or more).
1-5-2014 Newshound Guru Kaperoni [I guess they lied about the bond sale for monetary purposed they had said to do in the month of December.] I do not believe they ever said with certainty that it would be December. I recall them saying they would have to coordinate this through the MoF and hopefully with GOI/CoM approval it would happen in December. Clearly that did not happen. Maybe January..we shall see.
1-5-2014 Intel Guru Hub lets talk about the rv for a min… the iraqis have implemented new taxes and tariffs, this is a fact. I think they are just fulfilling the demands on creating a new country and government…the process to create this new entity is happening before our eyes. their currency is about to go international at the rate deserving the resources and i have always thought $3.50 to $4.00…cant and will not do it at 1170dinar to $1.
1-5-2014 Intel Guru Hub no big fanfare, just go to the bank and excange your currency…the natural rv of value of resources makes perfect sense, happens every day with all currency. they have installed tariffs, taxes, wto, imf., opec, and on and on, new laws out the cazoo and thus are ready to enter the world, in my…opinion.
1-5-2014 Intel Guru TD No one knows YET the date or rate… Stability of a nation is a huge prerequisite for any movement in rates, and right now iraq has it’s hands full trying to keep order. Just check the world news to see the escalation of violence. Until better security is addressed there will be no motivation to proceed forward.
1-5-2014 Newshound Guru Tlar this has been a banner week for our investment. Iraq seems to be getting ready to do something maybe as early as this month with their currency. We have been waiting for the tariff law to be implemented for four years. It was implemented January 2nd. We have been waiting for over a year to see new legislation designed to encourage investment and free enterprise. They had passed those laws a while back but never told anyone. Those laws are now being implemented.
1-5-2014 Newshound Guru Tlar The Bank of International Settlements (BIS) is this month for the first time accepting the dinar as deposits. The new smart card is being issued which will allow for Iraqis to get paid in something other than cash. This is also the month Iraq becomes a donor nation (IMF). The WTO met to determine whether or not Iraq will be admitted for full membership on Dec29th. There has been no announcement of the results of this meeting as of yet. Remember the WTO had told Iraq in 2010 that they wanted to see the dinar close to the value of a dollar before they would be admitted to full membership.
1-5-2014 Newshound Guru Tlar On the 7th of January the CBI will start selling bonds for the first time since the Saddam era. This is an important “monetary tool” which is one of the three tools that ultimately will replace the auctions. The other two tools are the tariffs (implemented Jan 2nd) and the Exchange rate not implemented yet. The COM has just released the budget to parliament today to be voted on. With Bagdad and Kurdistan in agreement, it should pass quickly. Article 140 was agreed upon by making it its own province that eventually will be under Kurdistan influence. So what does all this mean? For years all of this legislation has been tied up. All of it is coming together this month, January…everything looks like it is finally falling into place after years of waiting.