Iraqi Dinar Guru opinions 2-26-15
Iraqi Dinar Guru opinions 2-26-15
2-26-2015 Newshound Guru Millionday IT LOOKS LIKE THEY ARE ASKING FOR EXECUTIVE ORDERS WITH HCL — FROM BASRA…THEY ARE ASKING THE PRESIDENT TO MOVE FORWARD WITH THE HCL PER AGREEMENTS MADE. [Does the HCL have to be done before they can do anything with the Dinar?] THAT WOULD BE UP TO THE PLAN THEY HAVE FOR THE COUNTRY… THE TIMELINE THEY ARE WORKING WITH HAS NOT BEEN RELEASED TO US — WE DONT KNOW THE DATE…THEY…ARE WORKING VERY HARD TO MOVE FORWARD — ABADI PROMISED TODAY TO THE CITIZENS THAT THE ECONOMIC CRISIS WOULD END — THAT IS A HUGE STATEMENT.
2-26-2015 Newshound Guru Tlar The CBI made at the least a temporary strategic decision to start selling the dollar again to the banks to cover the remittance side of what was the auctions. When they pushed the responsibility for remittances over to the independent banks and cut off the auctions at the same time, they essentially left the bank with few options and almost no way to obtain the hard currency needed to pay these imports with. On the one hand they said you have to now pay for international orders and imports but we won’t sell you the USD to be able to pay for it. This immediately pressurized the system because potentially it stood to bring purchases to a stand still if not fixed.
2-26-2015 Newshound Guru Tlar The CBI just released the pressure on this side of the equation by announcing they would again sell dollars to these banks, but just to cover remittances. What they have yet to resolve is the liquidity problem in these same 32 banks. Until they can resolve the liquidity issue for these banks, Iraq remains in critical mass IMO. IMO they just don’t have enough dinars to open the budget at 1166. To me that says something has to change before March 1st when they implement the tariffs and taxes, not 45-60 days down the road. To me they can’t stay where they are, they have to move forward with monetary policy change or this problem will exacerbate.
2-26-2015 Newshound Guru OOTW well the budget, in full, is posted at the ministry of justice site – today [Wednesday] – it’s an active law.
2-26-2015 Intel/Newshound Guru Poppy3 JUST IN….MANY ARE LOOKING AT THIS INVESTMENT AND WHAT IS HAPPENING ALL WRONG…THINKING SOMETHING OR SOMEONE IS HOLDING THIS BACK. THAT IS THE FARTHEST THING FROM THE TRUTH. I HAVE A KEY PERSON THAT IS BEYOND REPROACH IN HIS STATUS AND INSIDE POSITION. HE HAS EXPLAINED THE PROCESS THEY ARE IN IS A PLANNED AND AGREED UPON PROCESS. ABADI, JUBOURI, BARZANI AND ALL THE LEADERSHIP HAVE AGREED ON IT, APPROVED AND THEY ARE CARRYING OUT STEP BY STEP. I BEEN INFORMED TODAY THE FINAL PHASE OF THE PROCESS HAS STARTED. IT WILL PLAY OUT AS IT IS SUPPOSED TO PLAY OUT. FORGET ALL THE MINOR DETAILS OF THIS LAW OR THAT REASON – IT DOESN’T MATTER TO THE END RESULTS.
2-26-2015 Intel/Newshound Guru Poppy3 I AM TELLING YOU THE PROCESS IS MOVING AS FAST AS THEY CAN GET IT DONE. THIS WEEK, NEXT WEEK OR 30 DAYS FROM NOW, IT IS WHAT IT IS. THEY KNOW THE DETAILS AND THEIR JOB AND THEY HAVE ALL ASSURED ONE ANOTHER THEY ARE GOING TO FINISH. NO DATE IS A DEADLINE BUT THE PROCESS AND WHEN IT IS FINISHED WE WILL ALL BE BLESSED. IRAQ WILL BE SAFE FOR MCDONALD’S, CITI BANK, DOMINO’S OR FORD MOTOR CO. OR ANY INDUSTRY TO DO BUSINESS IN. THEIR MONEY WILL BE HIGHLY VALUED AND TRADEABLE AROUND THE GLOBE. LET ME ASSURE EACH OF YOU THE WAIT IS SHORT AND THE BURDEN HAS BEEN LIGHTENED – WE CAN SEE THE PROGRESS AND HAVE BEEN ASSURED OF THE BLESSING COMING.
2-26-2015 Newshound Guru Arthur People are asking me the same questions over and over so I will address them now. Q. Is the HCL done? A. NO. It is not done and anybody saying it is either misinformed or doesn’t understand the process. They have agreed to agree on many parts of it and still working out the bugs on other issues….there can be no fully implemented budget and subsequent revaluation without it. Q. Is the budget in the Gazette? A. NO. The budget has been outlined in the law review of the MOJ site and has been signed, ratified, and agreed upon at every level but not placed in the official Gazette for immediate implementation and disbursement of all provincial funding. It can’t be be for obvious reasons but if it were, and still at the 1166 level we would all know it and it would not be anything to be excited about.
2-26-2015 Newshound Guru Arthur Q. Are we really close or are we waiting on June or further out? IMO based on everything I see and am hearing from our Arteam we are closer than close. Although nothing is impossible in Iraq, an unforeseen circumstance would have to occur to prolong this process indefinitely. The GOI/CBI has fast tracked their own procedures by the cessation of the auction regime. This tells us that they are assured of the timely passing of the necessary laws and riders needed to ensure the soon upcoming strength and international structuring of the IQD or they could have easily maintained their auction protocol for a longer period and not added to the already unwieldy liquidity dilemma on top of the inflationary event that the tariffs will engender, tariffs of which they no longer have the luxury of postponing as they are part of the 2015 budget. All indications are is that the cessations of the auctions was the beginning of a new mechanism and process that will by necessity soon include the revaluation of the Iraqi Dinar to an international reality rate commensurate with the current and future wealth of Iraq.
2-25-2015 Newshound Guru Millionday KURDISTAN IS DENYING IN THE PRESS THAT THEY HAVE AN ISSUE WITH THE OIL AGREEMENT AND THAT THE PREVIOUS GOV CAUSED THE ISSUE BUT NOW THEY ARE AGREEING. THEY ARE ANNOUNCING THAT THEY HAVE COME TO AN AGREEMENT ON THE DISTRIBUTIONS ACCORDING TO REPORTS I HAVE. [ IS THE VOTE ON SCHEDULE FOR THIRSDAY FOR HCL?] THE MONEY BEING SENT IS ON THE SCHEDULE…MONEY TO BE SENT TO KURDISTAN WILL BE DONE ON THURSDAY.
2-25-2015 Newshound Guru Kaperoni I am not expecting much at the start..maybe a few dinar from 1166 to 1160 or so. Parliament has work to do to get the economic train moving down the tracks…IMO, this will start slow and progressively get better as investment and economic progress takes hold. This is not some overnight event. Remember the CBI said just a few months ago that they have slated 4 years for the process.
2-25-2015 Newshound Guru LJ [via KJWayne] the “stability” we are looking for is to have LAWS, not the “stop blowing things up” kind of stability. …some of the laws cannot be done in that basket and will have to be passed separately…they amended changes to the oil and gas law to make the Kurds happy…HCL is NOT done…if we get to June and no changes have taken place regarding the Sunnis and Kurds, things will not look so pretty.
2-25-2015 Newshound Guru STRAIGHT TALKING MIKE [via KJWayne] …the C.B.I. stopping the auctions…what this does is it forces everyone (the citizens) to go to the banks now and start using them…they want the banking system up and going and ready to go and that they are basically there…the auctions stopping is NOT a precursor to an rv…this was a great step for the C.B.I. in moving forward…we need the Investment Law in place to start to help out the bank side of things…stopping the auctions basically puts a stop to the money exchangers on the streets. They are strengthening the banking system now for people to start trusting the banks. This should cut out a lot of the corruption in the banking system…once they get through there crisis with the Kurds…they will start to focus on passing Laws. [IMO] there will never be another (currency) investment like this ever again!
2-25-2015 Newshound Guru My Ladies THE PROCESS CONTINUES…THERE IS NO WORDING IN THE CONSTITUTION THAT SPEAKS TO FUNDING THE BUDGET PER SAY. HOWEVER IT IS IN THE CONSTITUTION THAT AFTER 24 HOURS OF PUBLICATION IN THE GAZETTE ANY PRINTING BECOMES LAW. SO FOLLOWING THAT IT IS REASONABLE TO ASSUME THE BUDGET IS LAW IN 24 HOURS FROM LAST NIGHT. WITH THE BUDGET BEING LAW IT IS REASONABLE TO ASSUME THEY WILL NEED TO GRADUALLY BEGIN FULFILLING OBLIGATIONS IN THE BUDGET. IT IS UNREASONABLE TO ASSUME THAT THE ENTIRE AMOUNT OF THE BUDGET WILL BE FUNDED IN 24 HOURS AS IT IS A 52 WEEK BUDGET, SO IT HAS MONEY IN AND MONEY OUT CONTINUOUSLY.
2-25-2015 Newshound Guru My Ladies BUT IT IS REASONABLE TO ASSUME THAT SINCE THE ENTIRE REVENUE OF THE BUDGET IS BASED ON OIL THIS TIME THAT THERE WILL NEED TO BE A CONVERSION RATE FOR MONEY COMING IN BEFORE THEY CAN BEGIN SENDING MONEY OUT. NOW I DO NOT WANT ANY OF US TO GET STUCK IN A 24 HOUR WHEEL SPOKE BECAUSE THAT IS NOT WRITTEN ANY WHERE. BUT WE DO KNOW THAT THE MONEY IN NEEDS TO HAPPEN REASONABLY SOON. I ASSURE YOU 100% THAT NO ONE IS HIDING ANYTHING…IRAQ IS A COUNTRY…NOT A GAME OF HIDE AND SEEK. THEY ARE SHOWING US EVERYTHING WE NEED JUST TO KNOW WHERE TO LOOK AND PUSH ALL THE HORSE FEATHERS ASIDE TO SEE IT. THINGS ARE VERY GOOD …VERY VERY GOOD…WE HAVE WHAT WE NEED THE BUDGET AND THE AUCTIONS AND NOW WE JUST WATCH AND WAIT.
2-25-2015 RUMOR Guru Yesterday you saw the budget was fully publicized. We got the same information: it is fully publicized, and it was signed off two weeks ago. We had a guy who actually walked over, took a look at it, and said this: Just reviewed the Budget that was published today. We are getting closer. It is not yet complete. At least the portion put out for the public today was not complete. The number of subsections that are not publicized is down to 17 – they have been signed off, but not put out for the public yet. Sections not published include the HCL, tariff law. Articles say they want it to take effect by 1. March, but it’s not publicized in this Budget, even though the Budget itself has been signed off. These sections could come out any time between now and Saturday. On television, they are telling the Iraqi people that this will be completed this week, and that is all we can really go by. They also told them that when the banks re-open, they can exchange their currency at the new rate. Our guy on the ground says that no banks are open in Baghdad at all, although a few are open in Kurdistan. They are scheduled to open tomorrow. Our banks in the US have put their people on notice. This could happen at any moment.
2-25-2015 Newshound Guru Millionday THEY HAVE A SIGNED PLAN BY THE WORLD BANK AND IT HAS NOT YET BEEN ACTIVATED — THE ADOPTION OF THE MONETARY POLICY AND THE REFORMS WILL ACTIVATE THAT PLAN FOR IRAQ. THEY NEED TO GO OVER EVERYTHING TO MAKE SURE THE ACTIVATION OF THE MONETARY POLICY AND REFORMS ARE ALL DONE CORRECTLY. THEY ARE STATING HERE THAT THEY HAVE BEGUN THE FOREIGN REMITTANCE SYSTEM — THEY ARE MOVING FORWARD WITH THE PURPOSE OF THE BANK FOR THE STABILITY OF THE IRAQI DINAR EXCHANGE RATE AGAINST FOREIGN CURRENCY THROUGH EXCHANGE TO MEET THE NEEDS OF THE FUNCTIONS OF THE BANKING SYSTEM. THEY ARE WORKING TOWARD THE REFORMS AND MONETARY POLICY BUT HAVE NO DATE AS TO WHEN. THIS IS BEING STATED TO THE CITIZENS –VERY EXCITING. CBI IS SAYING THEY ARE MOVING FORWARD WITH MONETARY POLICY — WHEN IS THE ??? THAT WE DO NOT KNOW.
2-25-2015 Newshound Guru Adam Montana This week is an interesting one. The budget is 100% done, which is exactly what we want. The CBI is mucking around with their auctions… and there’s a ripple effect happening right now, which will have an impact on the ISX and a lot more… but the fact that the CBI is changing things up has me asking questions, and I’m getting some VERY interesting responses. [ it appears that the budget has been passed and published in the Gazette. You have always talked about hca, budget, hcl and then rv. Would the hcl language be covered in the passed budget or should we be looking for an explicit law that will be passed and then also published in the Gazette?] It does appear that there was HCL-specific text in the budget, but the HCL has to be passed on it’s own. In other words, the budget supports the HCL, but the HCL will be a completely separate deal. With any luck, it will be dealt in short order!
2-25-2015 Newshound Guru Adam Montana [Do you think the Dinar will come out at 1166 in a FLOAT?] I don’t see them doing that… [Do you think we will have RV by the first quarter (March 2015)? Also saw articles in regards to the HCL and wondering is this the hold-up of the RV?] I certainly hope we’ll see the RV here in the first quarter, and yes the HCL is the holdup. [The biggest news this week seems to be CBI stopping their daily currency auctions.] I love it when the CBI starts playing with things. It means they are getting ready to do something! I have a feeling that I’ll be getting some feedback here shortly, and at that time I’ll do another “driveby” or formal post…With that said, I’m going to make this update short. Until that next post… hang tight, my friends! I’m just as eager as you are for some great news, and it looks like we’re closing in!
2-25-2015 Newshound Guru My Ladies THE BUDGET IS PUBLISHED. WE HAVE SOME CLARITY ON THE AUCTIONS, THEY HAVE NOT STOPPED ALL TOGETHER. THEY JUST STARTED USING THE NEW MECHANISM TODAY APPARENTLY, AND WHAT THE NEW MECHANISM IS HAS TO WITH HOW DOLLAR IS PURCHASED. THEY ARE TRYING TO ELIMINATE MONEY LAUNDERING SO YOU CAN NO LONGER JUST SHOW UP AND MAKE EXCHANGES IN CASH OR DINAR. THEY WILL SELL THE DOLLAR AS FOREIGN CURRENCY FOR THE PURPOSES OF TRAVEL MEANING IN LIMITED SUPPLIES AND WITH A PAPER TRAIL, YOU NEED TO HAVE A WHAT THEY CALL MONEY ORDER IN ORDER TO PURCHASE ANY CURRENCY. THE CENTRAL WILL LIMIT THE TOTAL SOLD DAILY TO 75 MILLION AND THERE WILL BE A TIGHT PAPER TRAIL.