Iraqi Dinar Guru opinions 2-5-15
Iraqi Dinar Guru opinions 2-5-15
2-5-2015 Newshound Guru American Contractor The World Bank has recently published a paper on the unpegging of the dollar from the Iraqi dinar. The World Bank offers suggestions short of being a demand for the Iraq government. In Iraq, they are already exporting Oil and Gas to world markets at the going market rate. The 2015 Iraq Federal Budget will have a problem going forward. The Central Bank of Iraq (CBI) finished the week with the Iraqi dinar market rate fluctuating from 1235-1250 higher than normal. The CBI and the Parliament Economic Committee will meet this weekend (Friday-Saturday) to discuss the monetary policy (Iraq Currency) and increase the value. The Iraqi dinar has no restrictions. The Central Bank is not waiting for a budget; they are implementing their monetary policy. The current monetary policy is causing a shortage of dollars in the market. The Central Bank may raise the limit of the dollar auction sales to assist the Iraqi dinar and increase in value.
2-5-2015 Newshound Guru Millionday THE BUDGET IS TO BE SENT FOR PRINTING IN ONE WEEK TO TEN DAYS AND THE CBI GOV IS MAKING IT VERY CLEAR OF HIS INDEPENDENCE IN THE MONETARY POLICY HE HAS READY FOR ACTIVATION. THEY ARE MEETING WITH CBI — MOP — AND MOF — ETC DURING THIS TIME TO CROSS T`S AND DOT I`S ETC. THEY ARE MEETING ON THE HCL WITH THE KURDS THIS WEEK SO THAT ALL ISSUES ARE LOOKED AT AND EXACT FOR ALL.
2-5-2015 Newshound Guru Chattels the temporary oil and gas agreement, i.e., for the next year / budget cycle, is now law by virtue of the parts which are included in the budget, but as yet there is no PERMANENT hydrocarbon law, IMO.
2-5-2015 Newshound Guru Arthur As I have said for the past 5 years the RV equation was, and still is GOI + HCL = RV. We can now expand “GOI” to include everything we have seen accomplished by Abadi’s new government over the past several months of its existence. We can safely say that the difference between Maliki’s GOI and Abadi’s GOI are as radically different as night and day and everyday we are seeing that difference become more and more pronounced as we draw closer to the event we are all waiting on. Having said that we are still one element away from the conclusion of this event. That is, the conclusion for us…and the beginning for the country of Iraq. That still missing element is a completed and fully implemented Hydrocarbon Law (HCL). The recent HCA (Hydrocarbon Agreement) is no substitute for the HCL and the PTB will never settle for less than the full deal.
2-5-2015 Newshound Guru Arthur The full HCL has a myriad moving parts that are much more complex than people imagine and is the reason for what seems like a delay but is only the dotting of all the i’s and crossing of all the t’s such as the SOMO component and how Kirkuk oil is implemented into the entire equation. The good news is that the very best minds in the economic world are currently there within Iraq putting this much anticipated agreement together starting with the limiting of the auctions and several other strategic actions as a prelude to changing the currency regime and Abadi…went on record as saying he feels it (HCL) along with all the other finishing touches (Investment Laws) should be ready to officially roll out next Thursday the 12th of February which we are being told will officially start a preset timer counting backwards to the reinstatement of the Iraqi dinar.
2-5-2015 Newshound Guru Kaperoni The dinar cannot remain pegged to the dollar if they expect a market economy. The reason is simple, as investment comes into Iraq through the Capital Account, it will create inflationary pressure. The solution to counter this is to allow the dinar to appreciate. …the central bank should begin the float prior to opening the Capital Account to prevent such inflationary issues…there is no chance for a RV at 1 to 1 or even close with 40+ trillion dinar in circulation… That is almost 4x the worlds money supply. The only way such an event can happen is if the dinar rises gradually from 1166 giving the CBI an opportunity to remove the 3 zero dinar and retire it at its lowest possible value.
2-5-2015 Newshound Guru Tlar The backstop to me is the actual disbursement of funds from the budget, 1166 or a new rate. No matter what, we should see the end to this period very soon meaning whether or not this time we will see the RV, or we will know that all miss-judged and we will be in for a much longer ride. I also don’t believe they can go live internationally without an international currency. Personally I think we are there and it is time. Thank god we don’t have long to see if this is correct. We have finite backstops, the Gazette and the funding which will close this period of hope one way or another. We should know our answer on the day the first dinar is dispensed from this budget if not a few days before.
2-4-2015 RUMOR Guru Everyone is waiting on Iraq. All the key banks, the Fed and the Treasury, and most are on 30-60 minute call. The assumption the US is making is that this will happen at night…we fully expect this thing to go through. Everything is beautifully lined up for the next 5-6 days, all laws have been passed and signed, and now it’s up to Iraq. We understand this will happen very quickly.
2-4-2015 Intel/Newshound Guru Backdoc BY NOW ITS OBVIOUS TO SEE THAT WE ARE AWAITING THE MARRIAGE BETWEEN THE FUNDING FROM THE CBI, AND THE LAWS THAT ARE WAITING TO BE PASSED! WE ALL ARE INVITED TO THE WEDDING ON THE TENTH TO SEE THE VOWS EXCHANGED! DURING THIS WINDOW BETWEEN THE 10TH TO THE 15TH WE COULD SEE LAWS IN “ONE BASKET”, BE PASSED ONCE THE CBI OFFERS ITS HAND OF FUNDING TO ENACT THESE READIED LAWS! THIS WILL CONSUMMATE A LONG AWAITED MARRIAGE OF THIS ENTERPRISING YOUNG DEMOCRATIC COUPLE!
2-4-2015 Intel/Newshound Guru Backdoc WITH THE BUDGET BECOMING LAW BY THE 15TH, THE COUNTRY WOULD BE PARALYZED UNTIL CBI FUNDING WOULD BE GIVEN, THEREFORE WE SHOULD SEE IT GIVEN BEFORE OR AT THE SAME TIME IT ACTUALLY BECOMES LAW. TRYING TO IMPLEMENT THE BUDGET WITHOUT A RE-INSTATEMENT WOULD DO DAMAGE TO THE NOTE COUNT AND A RATE OF A BUCK WOULD HARDLY SUFFICE AS A DONOR CURRENCY STATUS, THEREFORE I’M EXPECTING 3 PLUS! THIS WEEK APPEARS TO BE THE BACHELORS PARTY BEFORE THE WEDDING!! ITS TIME FOR THE CBI TO OPEN THE CHECKBOOK NEXT WEEK AND TIME FOR PARLIAMENT TO START WRITING SOME CHECKS! IMO
2-4-2015 Intel Guru Frank26 Article: “Jnataqh to the process of resolving the enactment of the oil and gas law after the amendment drafted” These LAWS are completed but their implementation into the budget to PROTECT it and it’s FUNDING are among a handful of things being DONE in the next TWO WEEKS. The GOICBI wants to SCREAM. IOO…They are attempting to do so today and tomorrow. Truth be known…we are VERY surprised to see this information coming out at this present time. Encouraging pace.
2-4-2015 Newshound Guru Adam Montana [do you forsee any factors that are going to stalk HCA to be HCL?] At this time it seems like the security issue is the only factor. [ Does the HCA being made HCL necessarily mean that equates to an RV?] Not 100%, but they are definitely connected.
2-4-2015 Newshound Guru Aggiedad77 Article: “Reform Bloc: Adoption of the oil law will solve all the problems of oil between Baghdad and Erbil” While the oil and gas committee within the COM continues to work on the wording of the new oil and gas law they do admit to a consensus in principle of the law…the COM is expected to tee this up after they push the National Guard law over to Parliament…which happened I believe yesterday…So let’s see what the committee work has resulted in for the oil and gas law and just say…”On with the show”…the COM knows full well the benefit to all of Iraq that will be forthcoming with the oil and gas law…meanwhile the Legal Committee wants to see things sped up in the processing of the oil and gas law by Parliament…
2-4-2015 RUMOR Guru Last week they restricted them from taking more than 10K dinar out of the country, and now they are not allowing them to take ANY dinar out of the country. That is significant in itself, along with the communications blackout. They are still doing it, it’s active, and there is something happening with their market that they don’t want to get out of the country. Everyone has already signed off on the agreement, so in a sense they are already international. They just need to make the announcement. [I’d like some clarity about the dong rate. You said it would be at least 47 cents, and now I’m hearing it might be 7-9 cents?] We have heard that rumor. We started hearing that on Friday, that the rate changed yesterday. The explanation is that too many of you have dong! We are now hearing they actually changed this in the system. [Is the $3.58 for the dinar still firm?] That is still a good rate, or even a little higher. We’ll see what happens. Iraq will do it when they want and have set specific days that are very soon.
2-4-2015 Newshound Guru sczin11 …THE PLAN IS IN MOTION, MR [MONETARY REFORM] IS ACTIVATED, CBI IS MOVING RAPIDLY (SPEAKING OUT) REGULARLY, PM IS BEING HEARD WORLD WIDE, WED SPEECHES…NO ONE KNOWS WHEN, AND BASED ON MY PERSONAL BELIEFS AND CREATED UNDERSTANDINGS, I THINK WE ARE LOOKING AT ANY TIME…
2-4-2015 RUMOR Guru Mnt Goat Do I think the RV will wait until March? Unequivocally and Absolutely – a big fat NO! But it will be close. Why do I feel this way? FACT- Once voted on and passed by parliament and sent to the president Iraq then has 15 days to ratify the law and get the law into the gazette unless the president vetoes the law and decides not to ratify it. It was voted on 1/29, and we know the president received the law on 2/2 so Iraq then has until the 2/17 to get it in the gazette. FACT – Reading the Iraq constitution Article 61, section 1 says that within 24 hours after a law hits the gazette is must be funded, This funding is what we are looking for. This is what is going to get the international rate. So we know they are in fact moving forward. But I would not expect any revaluation to at least on or around mid February.
2-4-2015 Intel/Newshound Guru tman23 All indicators point to an international currency acceptance of IQD…The CBI has opened foreign accounts and foreign accounts are at the CBI…this is an indicator for foreign exchange internal which followed by the pilot Master Card leads to indicators of an international exchange policy. But as of right this moment nothing has changed in regards to exchanging the currency at any US Bank.