Iraqi Dinar Guru opinions 5-12-15
Iraqi Dinar Guru opinions 5-12-15
5-12-2015 Intel Guru Frank26 Going forward with the monetary reform, the budget, the salaries, the private sector…everything that is in line. First of all we need an credit update…a credit rating for the banking systems in Iraq. Did Iraq get it? YES! …it is one of the first steps REQUIRED in order for a country to establish its own BONDS. Here’s the key…these BONDS are about ready to be released. The “GREEN-LIGHT” was not just to remove the 3 zeros…it was given to do the monetary reform process…basically to COMPLETE ARTICLE 8! The green light allowed them to do what they are doing finding ways that they can FULFILL their budget and explode the private sector, economy, bring in INTERNATIONAL trade. This is VERY BIG! There are TWO types of BONDS: 1- DOMESTIC BOND 2- INTERNATIONAL BOND (yeah!). These are not being sold in USD but IQD’s!
5-12-2015 Intel Guru Frank26 Do you know anyone who is going to buy BONDS at the 1166 rate? (No!) …these BONDS are about to go up in value from 1166 up to 1 to 1 (like the USD) but they’re going to go past the American Dollar over time probably within the next 5 years for sure. That’s why the DOMESTIC and INTERNATIONAL BONDS must be sold in IQD because they are going to go up in value. The value will only continue to go up… 1, 2 or 3 times its value in 1 or 2 years or overnight…It depends on the whales and the sharks. It depends on the international investors coming into Iraq. It depends on the people outside that are willing to buy these bonds. The World Bank has a huge delegation over there right now. I think it for the final touches for the introduction of the new rate. They got a new credit rating. They got the bonds set up. And all of this BEFORE Ramadan? (Yea…before Ramadan).
5-12-2015 Newshound Guru Enorrste […why is the CBI more concerned with reducing the number on notes rather the amount of curency in the market.] The CBI has stated two things: first, that the money in circulation is well supported by the reserves on hand, making the current dinar one of the strongest currencies in the world (in terms of backing); and second, that as the value of the dinar is allowed to rise the 3 zero notes will be gradually withdrawn until the money supply falls from its current 38 trillion dinars to about 25 billion dinars. At that time the dinar will STILL be the strongest in the world because they have $67 billion in reserves, or nearly 275% coverage of their money at $1 per dinar. Therefore, to answer your question, the “amount of currency” in terms of its current value, is not a problem and won’t be as they destroy the large notes with the rise in the value of the dinar.
5-12-2015 Newshound Guru Enorrste The number of pieces of paper, on the other hand, is a cumbersome problem that they simply WANT to correct prior to initiating the float…doing so will allow a larger bill with better security to come into play and will bring in millions of smaller notes than can be destroyed PRIOR to the intiation of the float. The result is that the float may well be announced shortly after the introduction of the 50k notes because they can destroy the smaller 3 zero notes that are turned in. Then, as the value of the dinar rises, even more 3 zero notes can be destroyed to lower the overall money supply, as they wish.
5-12-2015 Intel/Newshound Guru tman23 if the CBI releases a 50,000 note that has those 3 zeros to the street… it is not a good thing…there is no way to spin it as being positive…and those who buy into the spin of it being positive are in denial. WE will have to wait and see what the CBI releases…A 50 note with a solid block to the edge of the note after the #50 keeps us in the game …a 50,000 note that has the 3 zeros on the note is not good. …we make payments electronic… On the receipt does it say 20 note in 50k 10 notes in 25k…etc. NOPE…and if a bank for internal pay receives cash they need it for liquidity to use in daily transactions… I’m not buying into use for internal banking.
5-12-2015 Intel Guru Delta I’m so excited…a lot of good news! They must have a credit rating to sell the bonds. Standard and Poors…one of the requirements to get a credit rating is that your currency MUST be international…That is a fact. …re-read what I brought in…one of the points about getting a credit rating is they must have an International currency – which is Article 8. They must come up with a rate that is agreeable with the IMF (not 1166) – something that is agreeable for everybody. Iraq is having a BIG, BIG problem with liquidity…they have no cash in hand and they need to sell those bonds ASAP!
5-11-2015 Newshound Guru Millionday THE REASON THE NEWS IS REPORTED ABOUT THE GOVERNMENT IS THAT THIS IS A REFORM PACKAGE — THE INVESTMENT LAWS AND THE CUSTOMS AND ALL THE NEEDS TO MAKE A MARKET ECONOMY SUCCESSFUL OR EVEN DOABLE — THE GOVERNMENT HAS TO BE OBVIOUSLY INVOLVED. THE CBI HAS THE INDEPENDENCE TO USE TOOLS TO CONTROL THE COUNTRY`S INFLATION AND ECONOMIC HEALTH AS THEY MONITOR IT — THE LAWS IN PLACE FOR IRAQ OBVIOUSLY ARE FOR THE MARKET AND ECONOMY RULES — SO TO NOT INCLUDE THE GOV WOULD LEAD TO A THIRD OF THE PICTURE. TO NOT REPORT ON THE GOVERNMENT AND LAWS WOULD BE LEAVING THOSE THAT ARE INVESTED IN THE DARK — AS THE LAWS FOR IRAQ AS WITH ALL COUNTRIES DUE TO GLOBAL ECONOMICS ARE A HUGE PART OF THE ALLOWANCE IN THAT COUNTRY.
5-11-2015 RUMOR Guru We talk to the people actively trying to carry this out. They are not waiting, they didn’t make all the calls they made in the middle of the night to bankers and presidents so that they could do this in late June. A lot of the laws are very important, and yes, they need to support HCL, the National Guard, some loan stuff that has to get done. Abadi has said that there will be no holidays until these laws are passed. That’s good leadership but it’s not related to the RV. Many seem to be confusing the HCL royalty issues with the RV. That is a different issue – the government will pay onto people cards, and they need the RV and the oil revenues in hand to do that. They need the taxes coming in to pay out the various welfare programs. So until the RV happens, those other things will not go forward.
5-11-2015 Intel/Newshound Guru tman23 The 2015 Budget was passed and posted in the Gazette…In that Budget it was agreed and passed that the Kurd region would receive 17% …So if Baghdad sold 3 million barrels per day and revenue at 4.5 billion per month…17% is 765 million usd payment… The Kurds pumping 500,000 barrels per day come up with would make the same figure of around 750 million per month…The Kurds have an economy that could explode into being the financial hub of the middle east… They have an ESX that has been waiting for one year to open listing companies yet part of the delay is not wanting to deal with the 3 zero accounting… Abadi asked for citizens to be patient until June…Abadi announced that come July Iraq will be able to make all payments on time… SO…Why the pressure from the Kurds at this time with only a few weeks to go to live up to promises made? …the Kurds are moving forward…The question is will the CBI…because if the CBI does not…then I expect the Kurds to be doing business in USD come July.
5-11-2015 KING of RUMORS Guru We are astonished this didn’t go through this weekend. People in Iraq and elsewhere thought it would go through on Friday or Saturday. Saturday they were asked NOT to do it over the weekend – but they have always wanted us to do this at the weekend. The banks were told a flood of people would come through their doors on Monday morning. We’re being told this week and we are still in a great spot, but I can’t tell you for sure by Friday. There is NOTHING we know of that must be accomplished for the RV to happen. The rates are still live, and the bankers are still in the banks, ready to go. Right now, what we know, and those we are talking to…are telling us to get ready and don’t be 30 minutes from home. That kind of statement tells us that they are not waiting until June.
5-11-2015 Newshound Guru Enorrste …the printing of the 50K note is not designed to solve any economic problems. It is a revenue neutral event, an even exchange. It has nothing to do with solving the fiscal problems…the solution to the fiscal crisis in Iraq is to go ahead and float the currency. A rising value of the dinar would solve innumerable problems. Imports would become cheaper (90% of the goods in Iraq are imported), Jobs would bring in more money to the GOI. Of course oil is denominated in dollars, so that would change. But as the dinar rises in value everything else becomes cheaper. So, my question is: what’s the hold up?
5-11-2015 Newshound Guru Millionday Article quote: “The president of the Republic of Fuad Masum, on Sunday, will include a meeting of the three presidencies and the President of the Federal Court to discuss national reconciliation which will be after his return from Iran.” SUNDAY IS WHEN THEY PLAN TO HAVE THE NATIONAL RECONCILIATION CONFERENCE FOR IRAQ …THIS IS HUGE FOR IRAQ…THIS IS GREAT FOR THE UNITED STATES AND THEY ARE VERY HAPPY TO SEE IRAQ MOVE FORWARD.
5-11-2015 Intel/Newshound Guru Backdoc “We are committed to the convention, but Baghdad has not adhered to the agreement so far and we hope to abide by it,” noting that, “If Baghdad wishes to deal with the region as an oil consumer, we do not mind, but it must conclude a new agreement.” TO CONCLUDE THE NEW AGREEMENT WE NEED TO SEE A RATE TO IMPLEMENT HCL!