Iraqi Dinar Guru opinions 2-3-15
Iraqi Dinar Guru opinions 2-3-15
2-3-2015 Intel/Newshound Guru American Contractor There are very valid and concrete economic reforms inside the 2015 Federal budget. There is still a waiting period for implementation. It could very well exceed the 15-day waiting period. The Iraq Parliament Economic Committee has the next several weeks to coordinate and implement those economic reforms. It is the reason they have a major meeting in Baghdad on 5 February 2015. The Exchange rate has changed. Today the market rate is 1250 IQD. The U.S. currency is limited in the streets of Baghdad and across the country. Iraqi’s are feeling the austerity measures and are holding on to their dollars for as long as they can. You will see actual currency reform when the ISIS terrorists are all killed and all Iraqi banks are back in control of the Central Bank. Until then, the Iraqi government will continue with austerity measures and obtain loans from International Monetary Fund (IMF) and perhaps World Bank. Private loans from wealthy Arabs are in the works.
2-3-2015 Intel/Newshound Guru Poppy3 THE CBI NOW CARRIES THE BALL HANDED OFF TO THEM WHEN THE GOI FINISHED THEIR PART ON THE 31ST. THE CBI NOW HAS TO FINISH THEIR PART AND THEY ARE WORKING OVERTIME AS FAST AS POSSIBLE TO COMPLETE THEIR AGREEMENTS TO SUPPORT THE GOI AND THE FUNDING OF THE BUDGET. …THIS IS SIMPLE, WHEN THEY GET THEIR PROCESS COMPLETED WE WILL GET PAID… RV IS FINE AND ON THE WAY…
2-3-2015 Newshound Guru Millionday Article quote: “…a member of the parliamentary Economic Committee, that “some of the paragraphs of the general budget for the current 2015, a source of wonder, and other improper and ambiguous,” expected to “return the dinar exchange rate against the dollar to normal after a month from now.” THIS IS THE HUGE UPROAR TODAY WHILE EVERYONE TRIES TO FIGURE OUT WHAT IT MEANS…YOU MUST ASK YOUR SELF — WHAT IS NORMAL? NOTE — SALEH STATED YEARS AGO THAT IT WAS WHAT IT WAS IN THE 80`S — AND SO WE MUST SEE.
2-3-2015 Newshound Guru Tlar Article: “A set of economic laws will go on legislation in the next phase” IMO these laws as important as they are, will not delay the illusive RV. The next phase is the phase we will be in after the budget is opened and the after dinars are disbursed. It is my belief that the currency value will change before they disburse the first dinar… Bxxxx, thanks for the article showing they intend to pass the money out within 10 days. We have a bench mark now.
2-3-2015 Intel Guru Freeway Bill …with everything that is coming out right now, I feel confident that we are just in a waiting process while they dot the i’s and cross the t’s.
2-3-2015 Intel/Newshound Guru tman23 The fact is that added liquidity to banks and then to much liquidity is the key core for inflation…A foreign currency auction is a tool used bt the Central Banks which indirectly absorbs the excess liquidity…The catch 22 is… Iraq cannot RV or RI with 3 zeros included on the notes, the liquidity in banks would be instant hyper-inflation…and to cap the foreign currency sales at 75 million…This is partly due to the new payment window AND the steps for lifting the 3 zeros.
2-3-2015 Newshound Guru Aggiedad77 [why is today’s (Monday’s ?) auction at 91.7 million when according to the they should have a cap of 75 million?] IMO…they had such an auction today…because they can …the budget has not yet been signed, nor printed in the Gazette so therefore it is not law yet…gives the CBI a few days to still have auctions outside the CAP that was established in the budget.
2-3-2015 Newshound Guru sczin11 SO MUCH HAPPENING, NO RV YET, THAT IS IN PUBLIC VIEW…BUDGET IS ON…TO PRESIDENT, SO THEY CLAIM…HCL BEING DISCUSSED NOW, SO THEY SAY…CBI IS ACTIVE ACTIVE ACTIVE, ON MANY FRONTS…THAT IS FACT, AS WE MUST ASSUME RELEASES ON THEIR ARABIC WEBSITE ARE TRUE… DE-DOLLARIZATION, IMHO, IS IN FULL MOTION…WHAT MORE CAN WE SAY?
2-3-2015 Newshound Guru Tlar the rules…showing Import Regulations is very interesting… “Up to 25 Dinars can be imported and sums no greater than 5 Dinars can be exported out of the country.” 25 dinars going in and only 5 dinars out is not many dinars either way. Today neither of these two sums exist in the form of currencies (notes or coins) in Iraq. The smallest note to ever hit the street since 2003 was the 50 dinar note. There was a 25 dinar coin but it has long since been melted and pulled from circulation. So these restrictions make no sense under the current monetary regime yet this is the new law. Essentially under the current exchange rate they are saying NO money in or out. We know that can’t be right.
2-2-2015 TOTAL RUMOR Guru Today on Iraqi television, the CBI announced it was done and they would reinstate (RI) on the first of the month. We saw the same announcement in December. Over the weekend, the CBI and GOI said they were ready to initiate the currency reforms. They have specific days and times when they want to do this. They have picked three firm dates when THEY would like to do it… They are not seeing any issues; they are just waiting for one person in Iraq to say that he is happy for it to go. Parliament and the Iraqi President have all signed off, and now we are just waiting for that one person to let it go in-country.
2-2-2015 TOTAL RUMOR Guru According to all our sources, we are just waiting on punch items and timing strategies. On television they are still running “economic reform any time” as they have for the last few weeks. The US said that “we are ready, everyone is in lockdown”. Bankers are ready to go, but keeping the time as quiet as possible. Nothing will happen until the CBI and PM Abadi both say Go. Everybody’s ready. The worst case is we are not in the bank, but everything is lined up in Iraq and in the US.
2-2-2015 RUMOR Guru Very, very interesting articles coming out of Iraq now in the aftermath of last week’s historical passing of the 2015 Budget Law. We all should know by now that when they do begin to spend the 2015 budget they will need to fund it somehow. They will have to have an international currency to meet their international obligations. There is no way around it. Can they ratify the budget and then just sit on it? Yes they certainly can do this. They have done this with countless other laws already. Things are now different and moving along. There is a whole “package” of laws they are sitting on. They are all related and interconnected with the implementation of the budget law and so we can expect them all to be released about the same time frame.
2-2-2015 RUMOR Guru Does placing the budget in the Gazette (their law library) automatically cause it to be implemented? Technically the answer to this question is – YES. This is how it is supposed to work. However they have already taken many laws in the past and posted them in the Gazette only to implement them months later. If we do not see some re-pricing of the dinar very soon – like this week sometime we know the CBI is having issues with establishing the value they need for the currency and they will not revalue until the economy of Iraq is re-positioned to do so. Al-Abadi along with the CBI have to make a decision soon on when to RV this currency. I believe this decision has already been made weeks ago and we are now in the final countdown window now that the budget is truly done.
2-2-2015 Newshound Guru Aggiedad House of Representatives sends the budget to the presidency for approval… The budget was sent to President Masum for approval/signature….doesn’t say when…..and he has 15 to sign…..THEN it will appear in the Gazette….sounds like within a week of President Masum signing….but NO specific DATES are given on either the signing or the publication in the Gazette….trust me it will happen…..sooner than later. Budget to the Presidency for approval within 15 days…More proof that the budget was sent to President Masum TODAY for his signature…..otherwise after 15 days the budget becomes valid on its own.
2-2-2015 Newshound Guru Aggiedad77 Iraq is proving it can stand on its own feet and conduct business like a country emerging from under one crisis after another…..a country that has broken the chains of one dictator….and voted down a second wannabe…..throwing corruption out on its ear…Its time for them to be heard….loud and clear as a world leader…they seek speed in processing new laws…watch what happens in the coming days…Watch in amazement as they start to do what others believed undoable…the BEST is yet to come.
2-2-2014 Newshound Guru American Contractor The Iraqi government, Central Bank of Iraq (CBI) and the Parliament Economic Committee have all agreed to limit the dollar auctions to 75 million per day. The government wants to limit the capital flight of hard currency (USD) to their neighboring countries and criminal gangs. The Iraq 2015 Federal Budget paragraph 50 outlined the guidance to limit the currency auctions by the Central Bank. It is not a law, as some would have you believe. The restrictions on the currency possibly for one month, and then they will evaluate the conditions on the ground. I would expect the IQD exchange rate to be very fluid for the month of February 2015. When you limit the sale of USD, the IQD decreases in value because there is more Iraqi dinar in the market.
2-2-2015 Newshound Guru Millionday THE SITUATION IS TO THE POINT THAT ALL OF WHAT IS GOING TO HAPPEN IS GOING TO — THEY ARE IN A CORNER THAT REQUIRES THEM TO MOVE FORWARD WITH REFORMS — TRADE — ISX– AND MARKET ECONOMY — WHAT IS GOING TO HAPPEN WILL HAVE TO REVEAL ITSELF.
2-2-2015 Newshound Guru Tlar WHY IS THIS BUDGET SO IMPORTANT? There are two more steps in the budget. They debated it already. They voted yes on it already. Mausum signed it into law already. Next they will publish it in the Gazette it and lastly, they will start to disperse funds to the ministries. If there is to be monetary change (RV) this year, IMO it should come before they start to disperse the monies meaning we are close. If they don’t RV the currency this year it is my opinion they will hurt their economy because taxes, tariffs and raises in electricity will not be counter balanced and it will be punitive to the citizens. Taxes and tariffs and unpegging from the program rate are the tools the CBI needs to control the exchange rate and inflation in a new monetary regime.
2-2-2015 Newshound Guru Tlar We know that tariffs and taxes have been on the table since 2010. They were voted in but never enacted because Maliki never wanted the CBI to have them…Without these tools there can be no RV… This budget approves and implements these tools and it has been pretty much understood that these tools are draconian without an improvement in the exchange rate. It all starts with an RV and taking the currency international but as we see they have laid the groundwork and all those little pieces necessary to insure success have been done, some recently, some months and years ago. THIS BUDGET JUST SUPPLIED THE TOOLS THE CBI HAS NEEDED AND FOUGHT FOR SINCE 2010.
2-2-2015 Newshound Guru Stryker As we know the budget was approved last Thursday (29th) but under the constitution and according to page 118 of the budget the law is implemented if 15 days have elapsed after the COR (House of Reps) has transferred the law to the president. QUOTE: pg 118 The Iraq Budget Process Under the constitution, the budget law is considered automatically ratified (implemented) if 15 days have elapsed after the COR (House of Reps) has transferred the law to the president… After the Budget has been adopted then the Economic Reforms can be implemented…Where Are They Now: They are in the process of transferring the budget to the President now…Bottom line, no rate change today, we will not see the change in monetary system until the process is completed. We need to watch for when the President receives the budget and then 15 days from there should give us a better understanding of when we could see the first sign of REFORM…Please keep in mind that this is new to all of us and to the country of Iraq, when you research the facts you sometimes realize that there are more stones that need turned over before you find the gold, or in our case, the RV.