Iraqi Dinar Guru opinions 5-20-15
Iraqi Dinar Guru opinions 5-20-15
5-20-2015 Newshound Guru Enorrste Article quote: “Iraq stands now on the brink of a deadly pit is the possibility of a storm economic disaster…” Iraq is not on the verge of bankruptcy. They have issues, but they also have options available to them. The reserves are among the highest in the world in relation to the money supply. The GOI is in control of salaries, and can adjust them downward as necessary. Oil production continues to grow. There are a lot of companies that are seriously looking into investing in Iraq in the short term (I did a google search and found plenty of them). Admittedly, there is no “quick fix.” The situation is difficult, but hardly out of control. Iraq is not going to “collapse”…It will weather the storm. Remember, growth last year was at about 9%. Just give these people some time and they will get the situation under control. No panic is called for.
5-20-2015 Newshound Guru Enorrste I will add one more point: the current deficit in Iraq is about 34% of GDP. Our deficit in the US is 101% of GDP. This alone proves that Iraq is not on the verge of bankruptcy. Actually its deficit is about average for developing countries in relation to its GDP. And, the GDP is growing at a rate of 9% per year, meaning that the deficit, as a percentage of GDP, will fall. The US has run for two generations with deficits, and most recently with huge deficits. Most countries run with deficits. What makes Iraq any different? Just because their revenue covered their expenses for the last 8 years doesn’t mean that “the sky is falling” because they fall short one, or even two or three years. If Europe and America can run on deficits without a catastrophe, so can Iraq. It is not the end of the world. This is a minor setback only. The bigger issue is the security problem. If and when that gets solved, then the exchange rate regime can be changed and all of this deficit talk will disappear overnight. Let’s keep focused on the real problem, namely security.
5-20-2015 Intel/Newshound Guru Poppy3 [Have you heard anything about the dong lately?] THERE HAS BEEN TALK ON THE DONG AT THE WORLD BANK MARKET PROGRAM BUT NO DECISIONS HAVE BEEN DISCUSSED PUBLICLY AND I DOUBT THEY WILL BECAUSE IT IS ALREADY TRADEABLE AND RECOGNIZED GLOBALLY. THE DISCUSSION WAS THE EFFECT THEIR SUDDEN GROWTH IN ECONOMY WITHOUT A RATE CHANGE . WSJ [WALL STREET JOURNAL ?] OF COURSE STATED LAST FALL THEY HAD THE 5TH FASTEST GROWING ECONOMY IN THE WORLD. THEY LIKE IRAQ CAN POP AT ANYTIME. I WILL REPORT ANY NEW NEWS THAT IS CONFIRMED. [do u have any idea what are they sayin bout the rate…?] ALWAYS HEARD THE SAME RATE…FROM 3 CENTS TO A NICKLE.
5-20-2015 Newshound Guru Millionday TODAY [TUESDAY] IS THE DAY THAT THE “IMPORTANT LAWS” WERE TO BE VOTED ON — THE HCL IS TO BE ON THURSDAY ACCORDING TO REPORTS.
5-20-2015 Newshound Guru Adam Montana [During Ramadan, does the Iraqi parliament meet at all or is it in recess until the end of Ramadan? If it is in session can they pass any legislation on things like the HCL?. And is it legal for the Bank of Iraq to RV during Ramadan?] …you aren’t the only one that gets confused on their Parliamentary process! I’ve always said in the past that nothing major happens during Ramadan…and I don’t have much reason right now to think that will change, BUT we have a couple of pending things. 1. The US is now moving in favor of adding more support to Iraq with the motive of defeating ISIS.
5-20-2015 Newshound Guru Adam Montana 2. We’re still on the verge of major HCL movement. If we get immediate movement on those two things, or a couple of other key items, then we might see pressure on Parliament to break tradition and actually sing some high notes during Ramadan. The timing of everything is key right now. So to answer the rest of your question, YES it is possible to see major activity from Parliament, even during Ramadan. I always said it wasn’t likely in the past, but this year could be different, depending on how things go over the next couple weeks.
5-20-2015 Newshound Guru Breitling Twice a day I get these emails [You talk about Iraq and you talk about these articles well I’ve got a friend in Iraq and he says he doesn’t see these articles or they are not talking about that…he’s in the banking industry.] It’s real simple…go to your local bank and ask them where the value of their money comes from…they have no clue. I’m not saying their friend is an idiot but don’t ever assume, you’re looking for data not someone’s opinion, you’re looking for numbers, you’re looking for fact and sometimes you can ask a friend who will lead you to that and that’s fine…but “I have a friend in Iraq and he says that’s not what he’s reading” What the hell’s that supposed to mean? I live in the United States and I’m surrounded by people who have no clue how this all works. Their own currency. The economy. Absolutely clueless. You just need to confirm numbers and then compare.
5-19-2015 Newshound Guru Millionday THE CENTRAL BANK GAVE OUT AN ORDER TO THE BANKS…THEY HAVE BEEN ORDERED TO APPLY INTERNATIONAL ACCOUNTING PROCESS. SO WHAT WE HAVE…IS CBI TELLING ALL THE BANKS TO APPLY THE BEST THEY HAVE TO OFFER…SO, THAT THE SCALE CAN BE COMPLETED AND THE ABILITY AUDIT CAN BE COMPLETED. THEY HAVE MANY TRAINED I HAVE BEEN TOLD AS WELL SO THIS IS THE ENDING OF THE BANKING REFORM FOR IRAQ…THAT THEY HAVE WORKED SO HARD ON…AND ITS INTERNATIONAL COMPLIANCE.
5-19-2015 Intel Guru Frank26 The lava flow is moving in the right direction. The evidence is abound. About 3 weeks ago, Dr. Abadi came to the USA and asked for help. He needed troops, weapons, (protection for Dr. S) and money for Iraq. The IMF and the World Bank loaned them some money to get through April. They also needed some help to eliminate DAASH. The US Senate gave O [Obama] the permission to send in troops months ago…(not sure why O delayed) but we’re coming. SECURITY, SECURITY, SECURITY of Iraq is what is important. So what is going on in Ramadi? You need to understand…BAD NEWS (especially manufactured news) sells papers and advertising. Ramadi did not fall. It was given to them to gain intelligence. Cities are being secured BEFORE Ramadan!
5-19-2015 Intel Guru Frank26 Ramadan is a time when Muslim’s sacrifice. To seek monetary gain during that time would be considered sacrilegious. But articles say “this is an age of expectation” I think it’s an age of exception. During Ramadan the Peshmerga army will still continue to fight (which is normally not allowed) because they are fighting to lift the value of their currency. “So Frank you don’t think that they’ll increase their value before June 18th…before Ramadan?” If they don’t do it before Ramadan they (GOI) won’t go anywhere. For the 3rd year in a row now…the GOI didn’t go anywhere during Ramadan. Ramadan is not a target date…EID is more palatable for it. [FYI – the first day of Shawwal, i.e., EID ul-Fitr is July 17th] Senator Kerry knows what’s going on and told Iraq that the USA will do anything… ANYTHING to support Iraq so that Iraq will raise the value of their currency. This thing is coming … be excited about it!
5-19-2015 Newshound Guru Millionday Article quotes: “Parliamentary Finance Committee announced, Monday, that the central bank in connection with the strengthening of the dinar by printing large local financial currencies.” “pointing out that” the past years there was a project to strengthen the dinar and repaired by deleting three zeros from the Iraqi currency but has been postponed.” THIS SHOWS THAT THEY ACTUALLY PLANNED ON MOVING FORWARD YEARS AGO OR AT LEAST SOONER. HE DECISION THEY HAVE MADE IS TO MAKE THE DINAR RELATIVE TO THE DOLLAR — RELATIVE IN MEANING LIKE. I DONT THINK IT IS A COMMENT THAT GIVES THE VALUE — BUT GIVES THE CITIZEN SOME UNDERSTANDING.
5-19-2015 Intel/Newshound Guru tman23 Back in late January Abadi asked for the citizens to be patient until June…And just less than 20 days ago he announced that starting July Iraq will be able to make all payments in full and on time… If they are going to open the books without zeros starting the second part for the financial semester…JULY…Then they must have a lead way into that event…meaning a time period to initiate. Sure it can happen anytime…just as anything can happen at anytime…But personally I expect the show to begin 6/14. If they open July with 3 zeros accounting…WE ARE ALL WRONG…But I don’t see the Kurds and their economy waiting on Baghdad another 6 months. The Kurds just seen Ramadi fall because of lack of response from Baghdad…and Baghdad was warned 2 weeks in advance of what was needed… End of June…END OF THE ROAD!!