Iraqi Dinar Guru opinions 4-24-14
Iraqi Dinar Guru opinions 4-24-14
4-24-2014 Newshound Guru Kaperoni The reprinted currency dinars are now out in Iraq. This is great news for us! Bad news for those wanting a RV. Great news for a gradual appreciation but more importantly it confirms two great things! no LOP and the dinar we hold will rise! you dont reprint existing notes for a RV…u reprint if you plan to have them in circulation for a period of time as the dinar rises. Ok, this is not my opinion, its right in print from the IMF. its great news, IMO.
4-24-2014 Newshound Guru Tlar The CBI since 2007 and through two different governors has steadfastly protected the reserves…the CBI announced their cash reserves are $100 billion USD equivalency. They have also announced their gold reserves were 90 tons. In November they told us the gold reserves were equal to their cash reserves which the cash reserves at the time were standing at 89 billion USD. Why the discrepancy and what happened to the rest of the gold? In October if I remember accurately, the CBI announced that because Iraq was now released from Chapter VII UN Sanction that the CBI would be getting 82 billion of released funds from banks around the world.
4-24-2014 Newshound Guru Tlar …where are they going. My guess is that the CBI has been having them shipped and deposited directly in BIS as well as some being turned into gold purchases and deposited with BIS…Maliki stated he was going to get the funds. I believe Turki, in order to keep Maliki from getting these funds, has diverted them directly to BIS. They are part of the reserves but have yet to be accounted for on the CBI website. These funds added to Iraq’s known reserves and gold holdings makes the CBI one of the strongest banks in the world. Kuwait has one of the strongest currencies in the world but only has 32 billion in reserves. If we count the CBI’s potential reserves, they have almost 250 billion holdings they claim as reserves once the entire 82 billion is brought in house.
4-24-2014 Newshound/Intel Guru BGG I can tell you – based on some recent info, I am very encouraged. One way or the other – there is an endpoint in sight…it will end well.
4-24-2014 Intel Guru Bluwolf The exchange of the dinar shall transpire normally as with any other currency there are no restrictions or special implementations it would be illegal. Iraq might have a new change of government officials today. We are on a second to second watch and the codes are being seen on all bank screens.
4-24-2014 Newshound Guru Millionday Article: “The Central Bank’s Treasury Director Ihsan Al-yasseri said the Central Bank has printed currency notes of small groups (250, 500 and 1000) and also large groups (5, 10 and 25) 1,000 dinars.” this is not the release of the coins and the small denoms but is obviously a huge sign they are back from the printer and done also – they are for trade business…this is huge when you think about the major bank issues we have been seeing with no currency and citizen complaints – also huge because it is on the streets — large denoms we knew they printed. [also, why give a note that is worth only $0.21 security features?] bingo. this has NOW BEEN IDENTIFIED TO BE ONE OF THE STEPS CBI/TURKI SAID WE WOULD SEE FOR THE ACTIVITY OF THE ACTIVATION OF THE MONETARY POLICY — AN IDENTIFIED STEP.
4-24-2014 Intel Guru Frank26 Article: “Iraq issued new coins of high security specifications” The article is phenomenal but more telling is the …Timing. If There was NO rate change coming in the near proximal future then why RISK moving Talabani to Kurdistan so he can celebrate with the Kurds the announcement of NEW COINS and LD’s with the Kurd language on it? Because it is called …Timing…we count 17 things sitting on a Time Table…Waiting for the new IQD rate to be released by the CBI. …coins nor LDs have been introduced physically yet.
4-23-2014 Newshound Guru BGG Articles about new currency aside… I have talked to 2 contacts directly (in the last 24 hours) – not a peep. They are unaware of such moves. Not being distributed yet…both with direct Baghdad access (if anyone would know – they would).
4-23-2014 Intel Guru TD The CBI is again vocal with renewed announcements of new notes printed & ready to be phased in. The CBI will act on various monetary programs to roll out shortly after elections & it does not matter what government is formed. DFI funds release date of May 22nd is a focal one to keep an eye on. The CBI has the will & might to execute and at this point has a June time table for execution of various programs. The RV, RD, RI piece of the puzzle may soon be solved.
4-23-2014 Newshound Guru wmawhite there are articles out today suggesting that the new secured currency is being issued. Quote: “We are replacing the old currency with a new one be of the characteristics of high quality in terms of printing and the inability to forge and tampered with.” He pointed out that the procedure “will give the Iraqi dinar a large force in front of the rest of the other world currencies, as well as the ease of carrying and trading groups yellowed cash in banking transactions and the buying and selling and monetary exchange.” this great news!!! for this currency to “work” there needs to be a change in the value of the IQD.
4-23-2014 Newshound Guru wmawhite IMO, Iraq wants to make a big splash…get the world’s attention…a float that you are dependent upon the world doesn’t get them there quickly, IMO…the CBI is telling us so much. The only thing they are not telling us is how much. From their action they are doing things that indicate now. I am of the opinion that when the CBI make a change in the value of the IQD they will wants to leverage as much of it as possible…starting at 1166, or 1000 or anything less than a $1 to 1 IQD gets them no where on the world financial stage.
4-23-2014 Newshound Guru wmawhite [are you in agreement with rk and bgg that it should go before elections?] My opinion is that this is a financial event, not a political event. When the CBI does this in conjuction with the IMF/WB it will be based on their calendar not Iraq’s election calendar, IMO. It can happen before, after, it doesn’t matter, IMO.
4-23-2014 Newshound Guru Tlar The blocks…stated that they want to pass the budget right after the election…and have already agreed on the Kurdish issues to make sure it does…the likely hood of it getting passed before the elections is all but gone. The CBI has let the contracts to reprint the 250, 500 and 1000 notes. It is my belief that until these notes are printed and we begin to see large number of notes being swapped out we will not see an RV. If the CBI were to pull the trigger without the new 250, 500 and 1000 notes already going into circulation, Iran would be sucking billions and billions within a few days of the project implementation. They must reprint them before these notes have value. I see this as a change to the plan but it is an aboslutely necessary change to protect the currency.
4-23-2014 Newshound Guru Kaperoni Article: “Iraq issued a new currency with a high security specifications” Looks like the new dinar is already starting to circulate. This announcement validates two things, the dinar will rise gradually (no RV because reprinting these notes makes no sense then) and their is no redenomination (LOP) again makes no sense to reprint current denominations. This “only” makes sense in a gradual appreication or float in which these notes can be used by the citizens while the dinar appreciates and a slow transition per the statement…”will give a great power of the Iraqi dinar against other world currencies”
4-23-2014 Newshound Guru Kaperoni The CBI is following the directive of the IMF…and that will be a gradual appreciation of the dinar. And once they open the market economy and capital account, the dinar should rise fairly quickly based on the IMF’s own statement..the Balassa-Samuelson effect. Give it a bit…remember the Iraqi’s need a currency they can appreciate and be proud of and use while the dinar rises. Using the dollar is not an option.
4-23-2014 Intel/Newshound Guru American Contractor Article: “Iraq Central Bank invites JP Morgan Bank to open branch in Baghdad” The Iraq Central Bank has sent an invitation to the JP Morgan Bank to open a branch in Baghdad. This is preliminary and we will see what develops. Great News!!