Iraqi Dinar Guru opinions 6-1-15
Iraqi Dinar Guru opinions 6-1-15
6-1-2015 Newshound Guru Tlar The reason the CBI is planning for a more valuable series of bank notes is because this will help solve the liquidity problem because as these notes are introduced, the hope is that they will temporarily reduce the need for higher note USD that is principally being sold at the auctions. The CBI is scrambling to fix the liquidity problem but that will take time. Money has to work its way into the economy. They can’t just dump it in. Personally I think the program to produce these big notes is dead before it begins especially if it will take until 2016 to start to introduce them. Too little too late. They need to do something now and that something in my opinion is to get the RV into high gear now. We are starting to see articles from other economists that feel the same way. Introduce a smaller note with value. No good argument can be made for introducing a large note at this time. If someone is going to attempt to counterfeit a small note, surly they will also counterfeit a larger note with large value. Introducing a new note is still introducing a new note and counterfeiters are more likely to try to produce a big note. Personally I think it would make much more sense to just RV NOW, rather than wait until 2016 to introduce the large notes. I think that is what they will do.
6-1-2015 Newshound Guru Tlar One more thought. If the CBI is waiting on the security situation as so claimed, that is a big mistake in my opinion. First off the CBI and the government has issued cards to make government payroll. They are not sending cash into mosul or any city that is under the control of ISIS. If Iraq eventually runs ISIS out of the county, undoubtedly ISIS will take their spoils with them, especially cash. ISIS has to know that at some point Iraq will delete the zeros so even though it has been mostly USD they have stolen from the banks, they must have some dinar. That dinar is already lost or moved. The likelihood or repatriating it is as remote as getting the Iraqi oil they stole and sold out of of the country. Not changing the value of the currency as quickly as they can IMO, will cost them as a country more in the long run than if they change it now. It retards their economy and the economy is more important to get going than protecting any dinars they might loose from ISIS. So as an argument to hold the project up at this time IMO doesn’t make sense to me.
6-1-2015 Newshound Guru Kaperoni Article quote: “Said Governor of the Central Bank of Iraq…that early 2016 will see the issuance of new categories of paper currency is the dinar and 50 000 100 000 dinars, the Iraqi currency notes series.” To me this means – that this step will be the beginning of the currency reform process that will occur in 2016. Well, if you believe what he is saying it looks like we wont see these larger notes till beginning 2016. That also means any further reform (deletion of zeros) apparently won’t start until at least mid next year. They have waited years to return to prosperity and they are kicking the can down the road. I guess parliament has time now to pass those stalled laws. …unfortuately this appears to be the decision. That being said…that decision has merit…as they will insert this step prior to the beginning of the delete zeros process to reduce the “flabby” money. As [Guru] Enorrste has stated, reducing the physical note count is real and as well, hopefully gets citizens off the dollar. If it works, it will certainly help them as they prepare to delete the zeros shortly thereafter.
6-1-2015 Intel Guru Mnt Goat Just in the recent days we read that one of the MPs from parliament are questioning the stalling of the opening of the 2015 budget. It is the month of May already and almost 4.5 months since they passed the budget. What we did not all know is that this article is telling us is why the budget is stalled. It also confirms to us that the budget HAS NOT BEEN OPENED…It appears…that an appeal was filed in the courts by the GOI and the CBI by Abadi to postpone the budget spending. They now claim this appeal was unconstitutional. But the really nice part of this article it was Abadi (with support from his cabinet and the CBI) who stopped it. Why then stop it? So this is confirming to us more and more that they are awaiting the completion of the currency reform to begin spending the large amounts of money on the government reconstruction. So just in the last few days the minister of finance has stated that the 2015 budget money is about to be disbursed to each of the provinces. This is WOW news IF THEY ACTUALLY DO IT!
6-1-2015 Intel Guru Mnt Goat “Ministry of Finance announced in the federal government, on Thursday, it will determine the amount you will send it to the Kurdistan Region next week, asserting that the provincial government had exported the largest amount of oil in favor of the federal government.” The finance ministry has also told us that for the first time they are rolling out regularly scheduled payments and so there will be reliable, accurate, on time payments on time each month in the future. I can not tell you just how important this is to the people of Iraq! This is such good news! Talk about making the citizens happy! All of these items speak miles for us and our IQD investment. We have come, so it seems, like miles and miles down this RV road. But I believe we can see the end of the long tunnel now and we are crossing the bridge to see the final completion of the project to delete the zeros. The very last step to collect our dinar and pay us handsomely to get them. The RV is very close at hand and…there are so many signs now that very possibly we could be in a good window of opportunity to see this RV very soon if all goes to plan.
6-1-2015 Intel/Newshound Guru Poppy3 LIKE ABADI SAID THEY AREN’T GOING TO BREAK FOR ANY HOLIDAY TILL THEY COMPLETE THEIR JOB. IF YOU HAVE PAID ATTENTION FOR THE LAST 3 MONTHS AND LONGER ABADI FOR OUR PURPOSE HAS BEEN VERY TRUSTWORTHY. HE HAS BEEN LIKE DR SHABIBI WAS AND HAS NOT LIED TO US. HE ALSO HAS BEEN A WORKAHOLIC. YES SOME DEADLINES HE HAS SET HAVE PASSED BUT NOT BECAUSE OF HIM…HE HAS CONTINUED TO PUSH THEM AND PROMOTE FAVOR BETWEEN ALL TRIBES ETC.
5-31-2015 Newshound Guru Millionday “Rafidain Bank announced, on Saturday, the existence of an ongoing bilateral cooperation with the International Monetary Fund in the context of providing advice regarding the development of the work of banks in the country…the Rafidain Bank began advanced steps with regard to his bank to be parallel with his counterparts in the countries of the world.” SO RAFIDAIN BANK HAS LAUNCHED INTERNATIONAL BANKING AND IMF IS THERE TO HELP WITH THIS HUGE STEP WE HAVE BEEN WAITING ON. [They have launched or are going to launch?] HAVE…IT HAS BEGUN. [is this the date we wait for?] NO WE ARE WAITING FOR THE RATE OF THE US DOLLAR TO CHANGE TO AN EXCHANGE RATE THAT WILL MAKE US A PROFIT. […we may just be real close…?] I AGREE.
5-31-2015 Newshound Guru wmawhite IMO, this event is not date driven. The CBI will be introducing the IQD to the world currency markets. It will be leaving Iraq and operating among all the other currencies of the world. Holidays will not prevent it nor cause the IQD to show its true value. To believe that they are holding out is to say we know the date. IMO, they have informed their citizen numerous times to be prepared for have additional purchasing power… I sincerely believe this is our time…exact date…don’t know…but I believe it could be any day.
5-31-2015 Newshound Guru Kaperoni It is hard to imagine under the current conditions (decisions of the CBI) that they would be exiting the peg and moving to the float exchange regime in the near future. They are still trying to solve the remittance issues, foreign currency sales, market rate spread, smuggling, money laundering, counterfeiting, etc. Monetary policy is not good right now and IMO not conducive to reform. It’s almost like they are on a sailboat with torn sails and high winds trying to just hang on. The term “disorderly” is clearly apparent. With all that being said, there is a strong case for urgent reform and we will have to just wait and watch to find out. The 2015 IMF Article IV Consultation comes out mid to late July.