Iraqi Dinar Guru opinions 6-21-15
Iraqi Dinar Guru opinions 6-21-15
6-21-2015 Newshound Guru Millionday “Published (range Press) draft law of the National Guard in Iraq and amendments made to it by the political blocs, the following is the text of the draft. Based on what passed the House of Representatives and approved by the President of the Republic and based on the provisions of the first item of Article 61 and Item III of Article 73 of the Constitution. Issued the following law National Guard Law.” THIS IS SAYING THAT THE NATIONAL GUARD IS TO RECEIVE THE RIGHTS AND PRILEGES LISTED IN THE LAW BY BEING IN THE SERVICE AS WITH ALL SERVICE BRANCHES… [National Guard law passed?] YES AND AMENDMENTS. [What does this law have to do with the Dinars?] THE NATIONAL GUARD IS USED FOR MUCH OF THE SECURITY ON BORDERS AND MANY OTHER AREAS — IT IS A HUGE LAW FOR THE SECURITY OF IRAQ AND THE CONFIDENCE OF INVESTORS AND CITIZENS ETC.
6-21-2015 Newshound Guru Millionday [What about the amnesty law? has that gone through?] THE AMNESTY LAW IS IN PARLIAMENT. [PARL NOT DUE BACK TILL JULY 1? ANY TALK ABOUT SPECIAL SESSIONS?] THEY HAVE BEEN GIVEN 30 DAYS OF SPECIAL SESSIONS BUT NOT SURE WHEN THAT ENDS. [Didn’t the investment law have two or three readings already…?] YES IT HAS AND IN FACT IT HAS BEEN REPORTED IN SOME REPORTS TO BE DONE. [Any more updates on HCL?] THEY ARE USING THE OIL AGREEMENT WITH IRAQI FEDERAL AND ERBIL — THROUGH MOSTLY WHAT WAS ACQUIRED FROM 2011 ISSUE — AND WORKING ON ANY CHANGES IN FUTURE LAW …THIS IS NOT UNUSUAL FOR NATIONS TO BE CHANGING AND REFORMING LAWS.
6-21-2015 Newshound Guru wmawhite For sure…there is a lot happening and Iraq is involved in many discussions with many countries. The CBI will proceed in a manner to carry out the policies of the GOI. This (what we want) is NOT single faceted. It is very involved and is tied to the outside world currency markets. …what we see and read about, on the streets, market rate, is not the yet to be announced international value of the IQD. Instead, the GOI is preparing the citizen for what they will carry in their pockets. What we want is not spoken about openly. Let me give you an example…the CBI informs all banks in Iraq to start paying foreign bills (remittances) in IQD instead of USD. And that the exchange rate/value will be XXX IQD for every 1 such and such. What is this? This was an example of a change in value of the IQD…how can and why would Iraq want to cut any country out? Instead, they will want all of the world to participate. We are blessed to be sitting on this…it still applies…it has never been about if…instead, we wait on when.6-21-2015 Newshound Guru Kaperoni [Just curious as to your thoughts on all these American companies being awarded multi million dollar contracts in Iraq for various products and services.] With Iraq having no free market economy, nobody is going into Iraq until the laws and banking system are in place to support it. If your talking about oil contracts, yes companies are working in Iraq and paid in US dollars. Iraq though as of late has had issues paying these companies and some are accepting oil now as payment.
6-21-2015 Newshound Guru Kaperoni Anyone see that Iraq expects a credit rating next month? I did a bit of looking into this… The credit rating is important because Iraq wants to sell bonds to cover the deficit. If anyone would want them. …the dinar is convertible now. Since they are in Article XIV, it does not prevent them from trading or convertibility. That being said, many merchants, and banks refuse to deal with them under that condition…its really a choice by the bank or merchant if they are willing to engage with Iraq while the CBI is under Article XIV. That would change if the CBI met the conditions to move to IMF Article VIII…Which is the international standard of acceptance. Banks, merchants would welcome transactions, etc. once they meet that standard. That being said, Dr. Bakri, a very well known economist in Iraq stated to me that currency reform would occur before the CBI would ever meet Article VIII. So Article VIII is not something we necessarily need. Hopefully we will see the dinar appreciate long before the CBI moves to Article VIII.
6-21-2015 Newshound Guru Kaperoni From Investopedia…DEFINITION of ‘Sovereign Credit Rating': The credit rating of a country or sovereign entity. Sovereign credit ratings give investors insight into the level of risk associated with investing in a particular country and also include political risks. At the request of the country, a credit rating agency will evaluate the country’s economic and political environment to determine a representative credit rating. Obtaining a good sovereign credit rating is usually essential for developing countries in order to access funding in international bond markets.
6-21-2015 Newshound Guru sczin11 [Do you think the current leadership is capable of turning the corner over there?] THE ABADI REGIME, IMHO, HAS ACCOMPLISHED MORE IN 10 MONTHS, PROGRESSIVELY, AS FAR AS IMPLEMENTING ER AND MR, AND BRINGING IRAQ TO A SOVEREIGN DEMOCRATIC SOCIETY, THAN THE PRIOR REGIME DID IN 8 YEARS. IMHO, WE NEED THE CURRENT ACTING PROXY GOVERNOR OF THE CBI REMOVED.
6-20-2015 Newshound Guru Enorrste Article: “Central Bank current problems as a result of the loss of independence” I am encouraged that Shabibi stepped into the argument, finally. We now have Shabibi, Saleh, and Abadi on one side and, presumably, the CBI and possibly Maliki backing the play, on the other side. The real question here isn’t what Shabibi has said: that is all old news to us. What is the question is whether his entry into the discussion will move the ball forward. Even though he is out, he still carries a very big stick. He also has the backing of the IMF, totally. Therefore, it would not surprise me if some new “policy decisions” came out from the CBI shortly (of course the advent of Ramadan may make “shortly” last over 30 days!). It is clear to me that what Shabibi has stated is absolutely accurate: the meddling of the GOI and Parliament into CBI monetary policy has caused the problem that exists today with the wide spread. Whether Allaq has the knowledge or courage to take the proper corrective measures remains to be seen.
6-20-2015 Newshound Guru Enorrste In my view they should return to the auctions with no limits, for the time being. This will increase confidence in the dinar as the CBI becomes more “transparent” rather than “hamstrung.” They should also issue the larger notes sooner rather than later. This will allow a reduction in the money supply which will have a positive affect on the value of the dinar. It will also offer a counterpart to the American $50 and $100 which seems to be a problem for the locals (according to Saleh and others). Finally, as the value begins to come back, they should change the exchange rate regime while it is moving upward. This will encourage more trade in the dinar and a faster rise in its value.
6-20-2015 Newshound Guru Aggiedad77 We have PM Abadi speaking this week, we have Dr. Shabibi practically crowing this week, now we have Dr. Saleh wrapping up the week with his ideas on more good news…..rest easy.
6-20-2015 Intel Guru Frank26 They are working the MR in this method: Credit Rating to LDs for next month … Many are excited and FUELED for they are pegged to the IQD… As this leads to Article 8 compliances.
6-20-2015 Newshound Guru Millionday NOTE — ABADI IS HOLDING A HUGE PRESS CONFERENCE IN THE MORNING [SATURDAY] ABOUT IRAQ ECONOMY.