Iraqi Dinar Guru opinions 6-25-15
Iraqi Dinar Guru opinions 6-25-15
6-25-2015 Newshound Guru Breitling Article [The issuance of three categories of cash in 2017] there are a lot of people in panic mode saying hey are they going to push this off for another 2 years? Here’s the problem with this…they are already working on it and the indicators that they are working on it and already started are reducing the note count, retiring some of the notes and attacking the dollar within their own market…once they got started putting these projects in order and they started executing them it would take about between 2 to 3 years. So this article is consistent with that, nothing has changed…It’s one of two categories: …they are going to change the value of the currency and they start it now or they do in 2017. I say they are in the process of doing it now…
6-25-2015 Newshound Guru Kaperoni Article quote: “Iraqi National Business Council revealed on Tuesday for approval of the Cabinet on the proposal of Iraq’s accession to the Asian Investment Bank…” This is a pretty big deal we are overlooking. From Wikipedia… “The Asian Infrastructure Investment Bank (AIIB) is an international financial institution proposed by the government of China. The purpose of the multilateral development bank is to provide finance to infrastructure projects in the Asia region.  AIIB is regarded by some as a rival for the IMF, the World Bank and the Asian Development Bank (ADB),  which are regarded as dominated by developed countries like the United States.  The United Nations has addressed the launch of AIIB as “scaling up financing for sustainable development”  for the concern of Global Economic Governance. ”
6-25-2015 Newshound Guru Adam Montana [What is your opinion on getting the Illusive HCL passed this year ? Yes,No,Maybe,Or?] 4 months ago I would have said “ABSOLUTELY”. Now I have to back up and say “Let’s see what happens after Ramadan” – the month of August will tell us what to expect from Iraq in the short term.
6-25-2015 Newshound Guru OOTW …WHAT WE’RE WANTING TO HAPPEN WITH THE ECONOMY TRULY HAS TAKEN OFF. WE’RE SEEING AMAZING MOVEMENTS FROM ALL OF THE MINISTRIES TO GET THE PRIVATE SECTOR DEVELOPMENT AND ECONOMIC REFORM ROLLING. IMHO, PROGRESS REALLY HAD JUST BEGUN WHEN ABADI TOOK OFFICE – AND COMPARED TO THE PAST EIGHT YEARS (AT LEAST) – WE’RE DOING WONDERFULLY!
6-25-2015 Newshound Guru Aggiedad77 Article quote: “a member of the Investment Committee and the economy MP Najiba Najib announced that Article 50 of the Budget Law has failed and impacted negatively on the Iraqi dinar.” One of the most vocal members of the Finance Committee is now admitting that Article 50…the very cap THEY placed on the CBI has FAILED and it has been the NEGATIVE influence on the IQD all along this year. Keep the politicians out of the CBI’s business …these folks may think they know politics but when it comes to banking and high finances…they flounder… Remember they are the ones responsible for putting a budget together and they struggle with that as well…I am sure this will not be the last we hear from the Finance Committee but they have caused enough damage…
6-25-2015 Newshound Gurus OOTW and sczin11 …IRAQ IS SUBMITTING PAPERWORK FOR CONSIDERATION TO ABADI TO JOIN THE AIIB…ABADI’S GOVERNMENT, THE COM, HAS APPROVED THE DESIRE TO JOIN…AND SALEH CAME OUT AND SAID HE WANTS THE PEOPLE TO BE PAID IN DINAR NOT DOLLARS…ON THE SAME DAY THAT THE FINANCE COMMITTEE HAD THEIR MEETING WITH KEYWORDS AND SAID THEY WERE GOING TO IMPLEMENT MONEY LAUNDERING CONTROLS WITH ALL BORDERS, ESP IRAN…WHAT DO YOU THINK IRAQ NEEDS? A TRUE VALUE TO THEIR CURRENCY, THEIR CURRENCY, WITH RESERVES TO SUPPORT IT…COULD IT BE AT 1166? YES…BUT I DOUBT IT WITH ALL OF THE PRIVATE SECTOR DEVELOPMENT AND TRADE…THE PUDDING’S BEING MADE AND THE PROOF WILL FOLLOW…THEY’RE OPENING CROSS BORDER TRADING AND CURRENCY CROSS BORDER TRADES. THE COM HAS STATED TARIFFS GO INTO EFFECT AUG 1.
6-25-2015 Newshound Guru Adam Montana [ I would appreciate your elaboration on what you think of these three pending issues and what their bearings are on where Iraq is now and where it stands with an HCL…HCA, Article 8 compliant…The GOI gave the CBI the right to finance the private sector and now has approved 1 Trillion dinars to back it and a Credit-Rating.] HCA is an Agreement, HCL is Law – we want the Law. This has been the most important step for quite some time, and it still is. 1 Trillion is a lot when we’re hoping they increase the value of their dinar… the good news is they don’t have to use the entire amount. A .10 RV could actually eliminate the need to use most of that amount. This is one reason why I’ve never really worried about article 8 – it’s just not that important. Credit Rating – we’re still waiting for this news, and I wouldn’t be surprised to see it take another 3-6 months. Either way, the credit rating is not going to affect what the CBI does. I t’s good to see Iraq taking that step, but again – not a major issue for us.
6-25-2015 Newshound Guru Kaperoni Iraq has made it clear they want to raise the value of the dinar. And we know the dinar’s value is not only important to Iraqi’s, but significant to engage with the global economy. It will rise in value once the circumstances are in place to allow it to do so. If we all stop looking for an overnight event, we will be much better off.
6-24-2015 Newshound Guru Millionday [they talk about companies coming in for investment and getting loans and all but my question is can they do any of this without a rate change?] THEY CAN DO THIS WHEN THE IRAQI LAW ALLOWS IT WITHIN THE INVESTMENT LAW — THE RATE WOULD BE A CHOICE ON BOTH SIDES. [do the smart cards have to be international for them to work and Does the RV have to wait on the Smart cards?] THE SMART CARDS ARE REPORTED TO BE GLOBAL AND THROUGH MASTERCARD — HOW THEY WILL DO THIS TOOK MANY MORE EXPERTS THAN WE HAVE SO I WILL KEEP EYE OPEN ON INK FOR US AND WONT GUESS… [are they loaded?] NOT THAT I AM AWARE OF — THEY REPORTED BUILDINGS THAT ARE SPREAD OUT AROUND IRAQ TO ALLOW PEOPLE TO PICK THEM UP BUT HAVE NOT SEEN ACTIVATED AND USABLE IN ANY REPORT EXCEPT MILITARY A LONG TIME AGO.
6-24-2015 Newshound Guru Aggiedad77 Article: “The new investment law is ready for vote: raise taxes urgent and vacations for investors” The new Investment Law is ready for a vote and does not have problems that will keep it from being approved…it raises taxes…and they don’t think it will be problematic to approve…let’s watch what happens…no doubt new and improved investment laws are needed and the cutting of red tape is necessary along with the removal of corruption potential…
6-24-2015 Newshound Guru Kaperoni …it would be a great thing if countries could just randomly appreciate the values of their currencies to solve problems. Unfortunately, that is not how it works. IMO, there is a plan. And that plan is that the dinar will rise to counter inflationary pressure created as Iraq diversifies their economy. As more and more investors come in, more and more investment capital comes in, inflation will begin to set in. And to counter that the dinar will appreciate in value. All the tools are being put in place..tariffs, bonds, 5 trillion small/med business loans, etc. All designed to kick start the economy, stabilize Iraq, create an investment climate that continues to grow..creating the pressure needed to raise the value of the dinar…from the IMF Article IV Consultation..the Balassa-Samuelson effect – “countries with rapidly expanding economies should tend to have more rapidly appreciating exchange rates.”
6-24-2015 Newshound Guru Adam Montana Not much happening in the news lately, and pretty much all of my contacts in Iraq have gone silent this past week… which tells me we’re not going to see any activity during Ramadan, much like past years. In fact, it’s been a little quiet in the past month as well… – Abadi came in with a bang, got people motivated to work together and make some progress, and they did! Iraq was on a downhill scream for the first few months, and then… silence. It’s my suspicion that everyone is resting up, and we’ll see more positive progress after Ramadan.
6-24-2015 Newshound Guru Adam Montana Just a short while ago, they were talking about the possibility of 50k+ notes by the end of the year, but that talk fizzled pretty quick. Now there’s this article about smaller notes! It just goes to show that the articles they pump out don’t mean a thing. When they are ready to make a significant change, it won’t be preempted by relevant news articles. The exact opposite is true! They aren’t going to give any more clues than they absolutely have to, if that…
6-24-2015 Newshound Guru sczin11 LOTS OF BACK N FORTH, LOTS OF QUESTIONS, AND LOTS OF PROMISES…I STILL MAINTAIN SOMETHING BIG, ANNOUNCEMENT, EVENT, SOMETHING..IS ABOUT TO BE EXPISED. [This month!] IT COULD HAPPEN ANY DAY…IF ALL ELSE FALLS INTO PLAY…
6-24-2015 Newshound Guru tlm724 Article: “The annual increase resources for border ports” there we go, getting ready for the tariffs and lets not forget that on June 16th the minister of commerce had a meeting with the WTO.
6-24-20145 Newshound Guru wmawhite [would it make sense that they would have to have a pretty good credit rating to be accepted?] A credit rating is a sign to the rest of the world of what risk Iraq is when doing business with them.
6-24-2015 Newshound Guru Shredd Article: “Central bank: 2017 will see the issuance of new cash categories” To me, I see this as a good article folks. This is telling us the projection is the rate will be strong enough in only a year and a half from now to demand the circulation of the 50, 100 and 200 to “ease the burdens” after deleting or removing the three zero notes from circulation. Remember, this is a gradual process and the CBI is revealing more of their plan. This means we should see the rate improve to that point between now and then. The process of bringing strength to the dinar will take time. Think of it…if the exchange rate was a dime, these notes would be worth 5, 10 and 20 cents. That’s a pretty darn good exchange rate!
6-24-2015 Newshound Guru Shredd But for these notes to ease the burden of not have large notes in circulation, that means these notes will not have the role of being coins but rather their large notes. That will mean the rate will be closer to a buck. Think about the USD, the 100 dollar note is the largest note that has a decent usage in circulation… Quote: “…as the bank continues to center to pull the old category of the currency over ten years. “. This should also give you peace of mind that the notes we hold will not get discontinued and be useless to us like they did the 50 dinar note. Again, good news folks. We still need to be patient but this amazing return on investment is not an “IF” but a “WHEN”.
6-24-2015 Newshound Guru Kaperoni Press Release Quote: “The head of the House of Representatives, Saleem al-Jubouri, Tuesday, that the House of Representatives awaiting the arrival of the oil and gas law, the Council of Ministers in order to read the legislation.” One thing is for sure..they are making this next session of parliament out to be the “big” one.