Iraqi Dinar Guru opinions 2-2-14
Iraqi Dinar Guru opinions 2-2-14
2-2-2014 Newshound/Intel Guru Eagle1 The last few days have been filled with some interesting events behind the scenes. We’ve seen the Bank of Baghdad begin selling its stock shares on the ISX at something like $7.19/share. The hilarious thing is that on the Iraqi Stock Exchange, the shares list at 2.09 IQD. When you do the math, it works out to $3.44 per Dinar. That is consistent with a report that came from a Senior VP at Chase who reported to us yesterday that he was seeing the new rates for the GCR on his administrative screens. The Dinar was listed at $3.44.
2-2-2014 Newshound/Intel Guru Eagle1 This is a revalued figure we have been seeing since shortly after I had a sneak peak at the Iraqi Budget in the Spring of 2013. You may remember that I calculated the RV of the IQD on the basis of taking the projected income for the year against their projected expenditures. The number at that time was a fraction of a penny under $3.42. It appears they have pretty much maintained that number. This is not an RV of the IQD: this is an RI (or an approximate reinstatement of original value). Although there have been suggestions that the number may actually come out closer to $3.50 with the objective of achieving parity with the Kuwaiti Dinar, it appears to me at this moment that we may have to wait to see a higher value for the IQD.
2-2-2014 Newshound/Intel Guru Eagle1 We really had expected the GCR to be released…so that the numbers would be available globally in readiness for the Chinese New Year…this may have actually happened behind the scenes, but we won’t get to see the numbers on exchange screens at the banks before Monday/Tuesday, depending on whether the GCR is released to FOREX at 5:50 PM Eastern on Sunday night, or whether they wait until after Midnight Eastern. If the GCR is delayed until after Midnight Sunday…we will not get to do any exchanging until Tuesday morning when the banks open.
Guru Critic, This “GCR” is a phrase coined by the guru’s and reported as speculation by some “conspiracy theory” minded people. All I can say if any of this is fact, which it appears not to be, we do not want to see a “GCR” as reported. There technically will NOT be a GCR as they are stating it.
2-2-2014 Newshound Guru Tlar Article: “35 trillion dinars, the volume of cash in circulation” 35 trillion is a press stock number from early 2012 told to the press by Saleh. The CBI has not revealed how many dinars are in circulation since this was disclosed by Saleh in early 2012. Saleh also disclosed that there was only 4 trillion out of the 35 trillion circulating in Iraq at that time. Iraq has been dollarizing for 16-17 months. I doubt that there is even 4 trillion dinars left circulating in Iraq.
2-2-2014 Newshound Guru Tlar If we are to believe that today there is 35 trillion in circulation, we would have to believe the money supply in dinars has grown from 4 trillion in 2012 to 35 trillion by the end of 2013. The only thing that can be proved is Saleh’s statements from early 2012. That would be the beginning numbers that the press has repeated over and over since then. Since 2012 the CBI has not produced any numbers on dinars out and dinars circulating in Iraq.
2-1-2014 Intel Guru I am hearing positive things and am waiting to see the results. There are still those who don’t want us to see this though. The call centers are manned and ready, the exchange centers are on standby/alert and security is on alert and told to be ready. I have received more detailed info about the NDA…I will tell you that I don’t like it. Just so you know, the things I am hearing would suggest that we are at least 80% or more of where we want to be. Tomorrow will definitely make all of the difference in the world to us…Monday should be a great day.
2-1-2014 Newshound/Intel Guru BGG “Redenomination” and “establishment” of an exchange rate (of 1.17 dinars to the dollar) are two terms that don’t exactly belong together. Redenomination isn’t the way to “ratchet up” the exchange rate to where it was before…We artificially suppressed their currency in the beginning – it stands to reason the process will be reversed (at some point).