Iraqi Dinar Guru opinions 5-17-14
Iraqi Dinar Guru opinions 5-17-14
5-17-2014 Newshound Guru Enorrste Article: “In order to revive the Iraqi economy experts: the diversity of the currency basket is the best solution to address the low value of the dinar against other currencies” In my opinion this article is discussing how to tie the dinar into the world economy after it finds equilibrium rather than as a means to create an artificial value…the economist is stating that one of the best solutions to solving the low value of the dinar, and to bring it to a “real value,” is to float it against “the diversity of the reserve with the Central Bank.” It is this float that “will make us deal” with the true value of the dinar…he specifically states that before moving to a basket of currencies the dinar must be allowed to float based on “all economic activities” rather than just on an economy based on oil production.
5-17-2014 Newshound Guru Enorrste We may therefore dispense with the idea that this man is recommending an RV of any kind at all. Instead, he is backing the CBI plan entirely, but adding that at some point in the future, when the economic activity in Iraq is more broadly based, and only after the dinar has reached its “real value,” should a switch in “backing” be made from the dollar to a basket of currencies. The implication here is that the move toward tying the dinar to a basket of currencies is years away (after the float generates the required broad-based economic activity to “support” the “real value” of the dinar.
5-17-2014 Newshound Guru Kaperoni Article: “New Issue of 2013 with Extra Security Features and extra circle on the Left side for disabled and blind people to know the denomination of the currency they carry” …our translator has stated, this was a absolute necessity as most of the currency in circulation was worn out. In order for the monetary policy in Iraq to succeed, including the auctions, the citizens have to want and use the currency of Iraq. The translator felt this was nothing more than a necessary replacement..that being said..we can take some “cues” from this which IMO confirms there is no overnight RV but a more gradual appreciation over time as the IMF says. It also seems to confirm no such redenomination would ever occur, since if they were planning a redenomination, they would simply have done it at this replacement. Time will tell..let it come to us!
5-17-2014 Newshound/Intel Guru BGG Looks like they will announce the election results early…more articles coming out about this today. I wonder if this isn’t why Maliki bailed out on the trip to China.
5-17-2014 Newshound Guru Millionday Article quotes: “A cude oil pipeline between Northern Iraq and Turkey was completed late last year, and oil has since been pumped through it into storage tanks at Turkey’s Mediterranean port of Ceyhan. Exports from Ceyhan, however, were on hold to give diplomacy a chance to solve a dispute back then between Baghdad and Arbil over the sale of Kurdish oil to international markets. On Tuesday, he [Iraqi Deputy Prime Minister for energy Hussain al-Shahristani] said that the sale of the Kurdish crude oil has now begun…” wow…this is huge huge news…they are going to sell it globally through the holdings in Turkey…so this is obviously huge progress and has global market all over it — very good progress.
5-16-2014 Newshound Guru Kaperoni [How did the Kuwait dinar raise and could that happen to [Iraq] dinar the same way? Didn’t their dinar raise like over 3 bucks in one fell swoop?] I believe the Kuwaiti RV stories are…BS. Not to mention completely different animals. Iraq was almost wiped off the map and everything has to be rebuilt from the ground up.
5-16-2014 Newshound Guru Millionday [you think HCL is done?] we had a report in here about two or three months ago that said it was done and on the shelf waiting for funding and the progress for it to be activated — they also stated the amnesty was done in that same report…
5-16-2014 Misinformed Intel Guru DC [via a patsy] The US finally agreed to accept the rate after a LOT of back and forth. It was put back in Iraq’s hands. CBI and Maliki wanted to do some last minute announcements, and they did some grandstanding that took up most of yesterday. Now, today, live rates have been popping up through the world since yesterday morning, even down to the teller screens in different parts of the world. They have been turning on and off all afternoon and evening. Through this morning, we have had folks checking in many different countries, and some have seen the rates at the CBI, at the bank level, and occasionally at the teller level.
5-16-2014 Misinformed Intel Guru DC There have been announcements in Iraq but there have been too many in the past, and people want them to stop talking and get it done. They announced in the mosques that they were opening the banks at 6 to allow folks to do some exchanges and for lower denominations to get out. That has been successful, although it is stopped for the date because it’s late there. One friend did exchange himself in Baghdad, and others have reported currency at a higher rate. I think things look phenomenally good. They have so much that points to the fact that this thing is right upon us and expected to go down now. [Are all the currencies we’ve been hearing about in the first basket?] I understand all the currencies are back in the first basket now.
5-16-2014 Newshound Guru Aggiedad77 Article: “Maliki back from his visit to China and sends Shahristani instead of him and his office: the decision was made to use the time to form a government” Interesting twist on things within the State Law coalition today…Maliki won’t be making the trip to China after all…Deputy PM of Energy, Shahristani, will be going in his place…citing that Maliki’s plate is too full right now with the political agenda regarding the new government and how things will pan out for him…Maliki apparently sees the need to be in town for the election outcomes and obvious posturing that will take place after that…or…is his jet sitting on the tarmac warming up for a quick getaway.
5-16-2014 Intel Guru Frank26 NO ONE knows the date, IMO…Not even the CBI knows yet. IMO, The IMF guards this info like Godzilla protecting her nest of eggs. IMO…When the IMF says the CBI has earned the right via article 8 compliance to receive an IR…It will be given at the last fractions of a nano second.
5-16-2014 Newshound Guru Kaperoni Article: “In order to revive the Iraqi economy experts: the diversity of the currency basket is the best solution to address the low value of the dinar against other currencies” Banks are in the business to make money, not give it out. For a currency to appreciate there must be an upside to the bank…which is the commission. The CBI is the manager of sorts for the dinar. Once they move to a float, the CBI’s roll will change from in country currency daily auctions, to using those monetary tools to control the pace of the dinar appreciation buying/selling blocks of currency to control the liquidity in the global market. That is their job. That is what they are learning to do now under Article XIV. It make no sense to RV the Iraqi dinar and circumvent that responsibility. Nor will they.