Iraqi Dinar Guru opinions 5-9-14
Iraqi Dinar Guru opinions 5-9-14
5-9-2014 Newshound Guru Kaperoni Article: “Decline in central bank sales of dollar at the end of the auction week” We will have to wait and see if they remain low. It makes no sense when these banks are currently nothing more than money exchangers so commissions are important to them. We can guess that the issuance of new dinar may have curbed some desire to use dollars in the market. But the Iraqi economy still needed dollars for imports. Why they are low is anyone’s guess but these auctions are important to maintain the exchange rate and…to reduce the spread from Official Rate to Market Rate. If anything, I was expecting the number of banks and money exchangers participating to increase over the coming weeks – not decrease.
5-9-2014 Newshound Guru Kaperoni …thinking a reduction in auction sales means they are about to raise the value of the dinar. Wrong! The CBI is not compliant with the IMF. Until they prove they can do what is asked of them (via the Article IV Consultation) the CBI is not moving to Article VIII nor a new exchange regime. The recent statement that said “mid year” or June does not imply a change in value of the dinar, but compliance with the IMF. Nothing more. If the CBI meets that goal of mid year or June, we still need laws to be passed for economic and banking reform. There is much to be done yet before we can hope for an increase in the value of the dinar.
5-9-2014 Newshound Guru Adam Montana [I read…that the Iraq election ballots will take about a month to count and tally. If this is true then would you say that we wont see anything as far a real RV progress until those ballots are fully counted and a new PM is elected?] I think that’s a reasonable assumption. Here’s something to consider, though: Say things are looking in Maliki’s favor, and the opposition starts to get riled up. Maliki calls the RV…That would completely destroy his opponent’s chances of any kind of recall or anything else, wouldn’t it? [Do you think they will wait to pass the budget until after the new GOI is seated?] No, I don’t see too much delay in this process.
5-9-2014 Intel Guru MarkZ [seems to me that since the original plan was to have an RV and the Dinar was the linchpin of the GCR, that this has to still come in as an RV and not as an RI. The other countries all signed off on the rates already and were agreed to and it would have to all be redone. We are looking at an RV…?] That is why Maliki pulling the RI stunt forces the RV/reset action. A pain in the ass logistically but a needed push as I see it. [if M is not the new PM, can the new PM rescind the RI when he takes office?] If he could get the CBI to agree but he won’t. IMO.
5-9-2014 Intel Guru MarkZ [what Defcon level do you put this at right now?] 1 for the next week. [are we looking to a certain individual that will make the announcement for the GCR?] I am yes. It would be irresponsible of me to say who that is though. For the record folks…I do not believe anyone is holding this up any longer. [is it true that the funds for the RI/RV are in Iraq?] I am told the money for the rv exchange US holders is already here. I can’t comment on rates. We shouldn’t worry about rates though. They look to be great and fair. Let’s just focus on DONE.
Fact check, This constant mention of a “GCR” (Global Currency Reset), is just nuts, it’s not going to happen as they describe. It would destroy the currency traders such as Forex and others, if this were the case, then ALL the currency traders would be “dumping” ALL currency holdings in fear that they would lose everything not knowing what the “new rates” will be, just common sense.
5-8-2014 Intel Guru Angelquest [any chance we will be done by June 5?] WE can hope but much being processed. [do you see this going to the 15th?] that is a good date but a lot needs to happen by then. [has iraq grown enough to support a rate any where close to an r/i ?] Yes they have and well beyond.
5-8-2014 Intel Guru MarkZ [Where do you feel we stand on the HCL agreement and article 140?] I think it is already done and we will see the ‘announcements’ shortly. [Do you feel the HCL agreement is more important than article 140 or they hold the same importance?] same in my book. [Forex banker says everything agreed upon today and it should go down today yet…Scale of 1 to 10. Chances?] 5 today but much higher tomorrow IMO. Weekends make the logistics much easier. That is only an educated opinion though.
5-8-2014 Newshound Guru Tlar We should get what ultimately will be definitive results on a preliminary release from the Election Committee on Monday. There was a 70% turnout of eligible voters in Abar and a 77% turned out in Basra. Iran who tried to once again get Iraq to pick Maliki for a third term by pressuring the blocks last week to back him has found that their push has fallen on deaf ears.
5-8-2014 Newshound Guru Adam Montana […what else Iraq is waiting on to finally declare a new rate for their currency. Iraq was released from Chapter 7 last June. We thought once we got into 2014 something would happen.] Chapter 7 was a major hurdle and that is cleared. We’re simply waiting for the elections to be finalized, an HCL resolution, and an RV!
5-8-2014 Intel/Newshound Guru Poppy3 I HAVE BEEN TOLD TODAY SOME FACTIONS ARE TRYING TO HOLD THE CBI AND IMF UP IN THE RELEASE. I DON’T THINK AT THIS POINT THEY WILL BE SUCCESSFUL ACORDING TO THE SOURCES THAT GAVE ME THE INFORMATION THAT IT CAN POP UP AT ANYTIME NOW.
5-8-2014 Newshound Guru Tlar There is a move a foot to get the budget passed by next week. The stopper we know is the Kurds but once the votes come in next week it is my opinion that the present parliament will negotiate, read and vote on the budget quickly. Since Friday Turki has talked to the press now twice. What he stated is astronomical to me for a guy who has said virtually nothing about this project for so long.
5-8-2014 Newshound Guru Tlar The first article indicated they were waiting on the GOVERNMENT ELECTIONS TO BE SETTLED. It also said WE ARE READY to delete the zeroes. He also said that it is imperative that Iraq be prepared BEFORE HAND (not a float) to change the accounting systems in Iraq. The second article from Turki stated WE ARE READY and WE WILL DO THIS BY THE MIDDLE OF THIS YEAR. Next week should be a good week. If as expected Maliki is out, we should see movement fast…we ARE close.