Iraqi Dinar Guru opinions 2-25-14
Iraqi Dinar Guru opinions 2-25-14
2-25-2014 Newshound Guru Millionday Article: “General Secretariat of the Council of Ministers calls on state institutions to implement financial Altzmadtha local currency” Quote: “…not to enter any financial obligations in foreign currency amounts paid within Iraq and that commitment is performed exclusively in Iraqi dinars.” This is setting regulations — the first rate change will be in the current currency with added denoms. they have reported that they are going to add a new currency after the fact and it was to be at the first part of 2014…it shows compliance being demanded as well…it appears they are moving forward with or without parliament.
2-25-2014 Intel Guru EXOGEN UPDATE ON IRAQ MONETARY POLICY & CURRENCY REFORM IN CONDENSED VERSION: 1. THE CBI HAS TAKEN IN TRILLIONS IN DINARS FROM ALL OF THE BANKS 2. THE 2 LARGEST BANKS REFUSED TO TURN THEIR DINARS IN 3. THIS IS ALL TIED TO IMF ARTICLE 8 COMPLIANCE 4. UNDERSTAND DE-DOLLARIZATION AND RE-DENOMINATION IN MONETARY POLICY 5. THE EXCHANGE RATE HAS TO ADJUST NOW.
2-25-2014 Intel Guru EXOGEN 6. THIS IS TIED DIRECTLY TO IN COUNTRY MONEY SUPPLY & FIGURES 7. THE LOWER DENOMS MUST BE RELEASED SOON 8. THE CBI IS OPERATING LIKE THE FEDERAL RESERVE BANK 9. THIS IS TIED DIRECTLY TO THE NEW OPEN MARKET POLICY TO BE IMPLEMENTED 10. FOREIGN OBLIGATIONS CAN NO LONGER BE PAID IN USD AS OF YESTERDAY IN IRAQ 11. THERE WILL BE A 1:1 RATIO REQUIRED AT A MINIMUM 12. BANKS IN IRAQ HAVE NO LIQUIDITY 13. IRAQ IS UP FOR ARTICLE IV REVIEW WITH THE IMF IN DAYS.
Fact Check, If the “Banks” don’t keep their dinars in the CBI then they are not able to participate in the currency auctions. I have not heard of two banks refusing to comply. Iraq continues to pay “outside” the country in USD, an arms deal was just signed with Iran calculated in US Dollars. Anyone else notice the “commission” rate hike in the currency auctions went from 13 dinars per dollar to 24 dinars per dollar starting a few weeks ago?
2-25-2014 Intel Guru Fisherman1 [any truth to the hoopla about 17% imf voting being an issue?] USA will always have strongest vote in IMF…but that meeting did not happen.
2-25-2014 Misinformed Intel Guru EXOGEN The U.S. stopped the RV. The IMF needs 85% votes to move anything forward and the U.S. holds 17%. Subtract 17% from 100% and nothing can be done unless the U.S. agrees. They are playing hard ball to maintain the majority voting rights and then keep the USD as the Euro dollar for purchasing oil.
2-25-2014 Misinformed Intel Guru EXOGEN The Chinese were furious when told last night, but the IMF refused to allow anything to move until the impasse was solved. The IMF picked up and walked out of the meeting. They admitted that they cannot control the vote. Once the RV is posted, the currencies go asset backed and Brazil, India, China and Russia would assume equal shares and the U.S loses control.
2-24-2014 Intel Guru Fisherman1 People it has always been a once in a lifetime event, it has always been a work in progress, it has always been confusing, it has always been drug out, but now all have agreed on what is best for the American people and the rest of the World and all agreed, now we wait on 800 numbers, not weeks, months, its time, its coming….believe me or not. It’s here.
Fact Check, There are no 800 numbers coming, they are not needed.
2-24-2014 Newshound Guru Kaperoni Article: “Confirmed that the move of the private sector will absorb unemployment rates for parliamentary Finance (Badr): New stability in the price of the dinar against the dollar” …clearly the IMF and Finance Committee (Abdul-Hussein al-Yasiri) are on the same page. IMO there is no doubt that the IMF has been very transparent on the intentions of the dinar. …the IMF Article IV consultation states…gradual appreciation based on the Balassa-Samuelson effect. Here is the definition…“In 1964, academics Bela Balassa, a Hungarian economist, and Paul Samuelson, a Nobel-Laureate economist, independently observed that countries with higher levels of productivity growth experienced rapidly rising real wages and so appreciating real exchange rates.”
2-24-2014 Newshound Guru Tlar Article: “The specter of bankruptcy in the Kurdistan region threatens to declare austerity” The Kurds need to stand their ground and not cave in to Maliki. Maliki is trying to intimidate them into voting for him for a third term. Blackmail pure and simple. For sure they will attempt to hold the elections up if they don’t get their way. They are fearful that if they get knocked out of office, prosecutions will follow.
2-24-2014 Newshound Guru Kaperoni Article: “Parliamentary Finance: The government may have to borrow from the central bank to pay salaries next March” The reality is the IMF, World Bank have warned them for the last few years that they need to get away from total oil dependency, and to cut spending. Yet Maliki’s GOI continues to increase spending and hiring of Iraqis’ on the GOI payroll. Some 70% of the budget is salaries, wages, etc…which soon will be a mess as they have no money to pay anyone (since the budget is not passed). Though we may not like this, it may be what it takes to get these clowns to change their way of thinking and transition to a market economy.
2-24-2014 Newshound Guru tlm724 Iraq Is Positioning itself for a big move!!! …article posted by BondLady on June 5, 2012: “Iraq is expected to become full member of WTO within two years June 5, 2012″ not only are they positioning themselves for the final push into the WTO they are also preparing to accept the requirements for Article VIII of the IMF! they cannot go forward without the currency reform and…we are right up on that 2 year time frame mentioned above!! it really is happening!
Fact Check, More recent articles state that Iraq will NOT join the WTO for another year or two, we wait and see. Just because they stated something two years ago does not make it relevant now.
2-24-2014 Intel/Newshound Guru Poppy3 MANY…BANKING LAWS WILL BE ACTIVATED UPON THE APPROVAL OF THE BUDGET AND IT APPEARS THE RV WILL BE VERY CLOSE TO ALL THESE LAWS BEING ACTIVATED. [March looks promising?] FEBRUARY ISN’T OVER YET…POSSIBLE ANYTIME FOR SURE.