Iraqi Dinar Guru opinions 2-9-15
Iraqi Dinar Guru opinions 2-9-15
2-9-2015 Newshound Guru American Contractor The Iraqi Parliament is continuing with their economic conference meetings in Baghdad. What you are going to see is the private banking institutions and the Iraqi government working together to facilitate government projects. The Iraqi government will remove the restrictions it had imposed on the private banks. The Private Banking had restrictions due to lack of capital and unable to fund multi-million dollar projects. Since that time the banks have raised their capital to the Central Bank requirements and now, are able to compete with the two state banks for government projects. Not all private banks have met the capital requirements, and they will not be able to participate in this program. The Central Bank has announced that this is not the time to delete the zeros from the Iraq currency, stating that lack of security and economic stability in the country. The State-owned Rafidain Bank has announced the first ever smart card used by Iraqi citizens who are living abroad and are collecting pensions and or subsidies. The Central Bank reserves have decreased, and this is another reason the CBI has limited the sales of the dollar into the market. The CBI is trying to protect the reserves.
2-9-2015 Newshound/Intel Guru BGG Article quote: “Approve the recommendation on the application of the customs tariff law on imported goods… that this decision is implemented, starting from Date of 03/01/2015.” [Several…wondered about the effect of such and whether the event itself foreshadowed a rate change? and/or that the very existence of such a tax ” required ” a greater value to the dinar?] …tarriffs without value are pretty meaningless…from a functional perspective.
2-9-2015 Newshound Guru My Ladies Article quote: “…Rafidain Bank, on Sunday that the Arab countries will be the first stop for the beneficiaries of the smart card, stressing that the use of the card will be very soon.” WELL WHEN EVER IRAQ SAYS VERY SOON THAT IS GOOD NEWS. THEY…SAID THEY ARE ACTIVATING THE QI CARDS INTERNATIONALLY AND THERE ARE PEOPLE FROM THE RAFIDAIN BANK READY TO TURN ON THE SOFTWARE TO ALLOW THE CARDS TO BE INTERNATIONAL….THEY ARE SO READY. THEY DID A TRIAL 2 WEEKS BACK WITH MASTER CARD AND I GUESS IT WAS A SUCCESS BECAUSE THEY ARE NOW GOING TO TRY THE QI CARDS IN THE NEIGHBORING ARAB STATES…WOW…GREAT GREAT NEWS.
2-9-2015 Newshound Guru Tlar We know they have not published nor have they opened the budget. So every number we see until then, will be stated in today’s value (1166). We also know that the ATM’s are being readied for operation…We also know that the government and all involved ministries have been meeting with the CBI and the CBI appears to be making all the proper moves coordinating with the independent banks to modernize both their systems and the functionality. Both government banks are being privatized and restructured again. Interesting timing? …Iraq…admitted that they can back all the dinar ever let out 1.5 times, even the dinar you and I hold which is not circulating, by itself is amazing. I think they are not telling the whole truth on their numbers, neither the reserves nor the circulating currency. Their are many smart people in dinarland. If they ever did disclose these figures, many would be able to calculate a possible RV number.
2-9-2015 Newshound Guru Tlar In June of 2008, that number was 1.13 to 1 as determined by experts that did a strategic study. By the end of 2009 Forexes started to show the dinar at $1.49 until Shabibi stopped it and reversed it. That means by the end of 2009 the dinar had increased .36 based on the reserves and oil production increases. That was essentially deleting the 3 zeros but by 2009 it had grown. As the years have rolled by we see more oil production with a great future, we see an economy ready to open like a flower and less dinar circulating than in 2008. So please understand the name delete the zeros still applies. It means only that the 3 zeros will be gone. That is the term they are still using today. But IMO it only means that from .86 up it is descriptive of the program, but does not give us any indication of the new rate. Anything above .86, the term deleting the zeros still applies. So at $3 + the zeros are still deleted so the description of deleting the zeros tells us very little about the potential for the rate. Hang in folks this is getting exciting and IMO is almost over.
2-9-2015 Newshound/Intel Guru BGG I really like where we are at right now – the best (based on real info) position we ever have been.
2-9-2015 Newshound Guru sczin11 IF IT IS NOT GOOD OUT THERE, I DONT KNOW WHEN IT EVER WILL BE…THERE IS SO MUCH HAPPENING, AND THE ONLY THING THAT IS NOT IN THE RACE IS THE DELIVERY OF THE BUDGET… QUITE FRANKLY, I THINK THAT IS JUST PART OF THE SHOW…NON RECEIPT, MEANS NO 15 DAY COUNTDOWN, THEREBY GIVING THE PTB IN IRAQ THE LEEWAY TO PROCEED WITH THE PLAN, AND NOT BE HELD DOWN BY SILLY DEADLINES, AS WE KNOW THE BUDGET IS DONE, AND HAS BEEN FOR A VERY LONG TIME… WHAT MORE NEEDS TO BE SAID… YES, WE WOULD LIKE A DATE… WHO REALLY CARES IN THE LONG RUN… THE KEY IS WE KNOW IT IS HAPPENING, AND HAPPENING NOW IT APPEARS…
2-9-2015 Newshound Guru Kaperoni …there is no RV or RI. …its going to be a gradual appreciation over several years. The IMF is a professional world class organization. They do not make things up. It is clear as day that the plan is to gradually raise the dinar as investment comes into Iraq. This is the only process that makes sense with all the other parts. Believe me…I would love to talk RV, RI or some other solution..but it is not happening. You cannot compare anything in Iraq to Kuwait.
2-9-2015 Newshound Guru Kaperoni The statement by Abadi the other day referring to 5 billion dinar and 440 million dollars was not referencing an exchange rate. He was simply stating an allocation of money..in other words..of the 5 billion, 440 million would be going towards..rebuilding. It is not appropriate nor his business to discuss monetary policy, exchange rates, etc. To many of you wear a RV hat looking for anything, any article, any video that you can interpret to confirm some kind of RV…I will say it again..there is no chance that an overnight RV can happen. None. Zero.
2-9-2015 Newshound Guru Enorrste I agree 100% with KAP [Guru Kaperoni] on this one. There not only won’t be an RV; there cannot be an RV. with 42 trillion dinars in circulation, an RV at only $1 per dinar would make the currency in circulation worth more than 80% of the country’s currencies in the world, combined. It just is not possible to RV without first reducing the money supply. Furthermore, you cannot reduce the money supply unless you gradually raise the value of the dinar. It is a process that the CBI has stated will take up to 4 years.
2-8-2015 Newshound Guru My Ladies SO FAR THERE IS NO INDICATION THEY ARE GONG TO POSTPONE THE PARLIAMENT SESSION ON TUESDAY. ALSO THE COUNCIL IS GOING TO RESUME IT’S REGULAR SESSIONS STARTING TUESDAY TOO.
2-8-2015 Newshound Guru sczin11 I do not believe they are going through this entire process with the hundreds of billions of dollars being invested and loans and the statements that they are the most powerful country and wealthiest country in the world to raise their currency to the equivalents of $.10 per dinar.
2-8-2015 Newshound Guru Aggiedad77 Article: “Special / new draft oil and gas law entitles “Sumo” manage the export of oil exclusively” It seems that a friend of a friend of an MP is saying that the new draft oil and gas law will allow SUMO exclusive rights to manage all oil exported from Iraq…well we shall see what is presented to Parliament in the coming days…because of strong differences in the first two versions of the law from 2007 and 2011, the COM has been in the process of rewriting the law and will soon present this effort to Parliament…there is a rush on this law to get it passed at this time.
2-8-2015 Newshound Guru My Ladies Article: “Hamoudi: Parliament intends to issue a new investment law to achieve development goals” THE INVESTMENT LAW SEEMS TO BE DONE FINALLY WITH JUST A FEW CHANGES. THEY HAVE THE CHANGES FROM THE COUNCIL OF MINISTERS AND THEY ARE GOING TO SEND IT TO THE HOUSE FOR…VOTE. THIS IS GREAT NEWS, BECAUSE YOU CAN NOT OPEN THE INVESTMENT LAW WITH OUT MONEY IN THE BANK. WE SEE THE NEED FOR LAWS BUT THE STALL OF IMPLEMENTING THOSE LAWS BECAUSE THEY NEED THE MONEY. SO THEY ARE REALLY PUTTING THEMSELVES OUT THERE WITH ALL THE RUSH RUSH TO FINISH THESE LAWS.
2-8-2015 Newshound Guru My Ladies AND JUST TO BE CLEAR WE NEVER SAID THERE WERE NO LAWS NEEDED WE SAID THERE CAN NOT BE LAWS WITH OUT MONEY. AND TO DATE WE HAVE NOT SEEN THE MONEY AND GUESS WHAT…WE HAVE NOT SEEN THE LAWS EITHER. SO…AGAIN… $ B 4 LAWS. WE ARE SOOOOO CLOSE… THEY ARE CLAIMING…ABADI IS GOING TO ENACT THE ECONOMIC REFORMS ON THURSDAY THE 12TH, SO WE CONTINUE TO BUILD ANTICIPATION BECAUSE WE STILL SAY WE NEED TO SEE THE MONEY BEFORE ANY OF THIS CAN HAPPEN.