Iraqi Dinar Guru opinions 7-23-15
Iraqi Dinar Guru opinions 7-23-15
7-23-2015 Newshound Guru My Ladies Quote from Article from 2013: “Two Iraqi parliamentary committees monitoring fiscal policy in Iraq have held two contradictory positions on the Iraqi currency “reset” project, which would delete three zeros from the currency. There has been much debate about the project’s feasibility and the date of its implementation.” THE PEOPLE WHO OPPOSED THE RESET IN 2013 ARE THE PEOPLE THAT ARE SAYING NOW IN 2015 THE TIME IS RIGHT. IT SEEMS MALIKI BACK THEN AS [WAS?] FOR THE DELETION, AND TAMIMI AGAINST IT, SO NOW ALL THE CONCERNS HAVE BEEN ADDRESSED AND TAMIMI IS SAYING THE TIME IS NOW. SALEH WAS CONCERNED BACK THEN TOO AND EVERYONE OBVIOUSLY OUT RULED MALIKI AND NOTHING WAS DONE. SALEH IS ON THE BALL NOW…
7-23-2015 Newshound Guru Millionday CBI Announcement quote: “CENTRAL BANK OF IRAQ DECLARES TO EXTEND THE PERIOD OF CLOSING DATE FOR THE TENDER ABOVE FOR 30 – DAYS FROM 7/22/2015 AND THE TENDER SHOULD BE SUBMITTED AT THE MAXIMUM DATE OF” THERE HAVE BEEN SOME GREAT ANNOUNCEMENTS FROM CBI BUT NOTHING LIKE ONE… ALL OF IRAQ FINANCIAL INFORMATION THAT WAS TO BE VISIBLE AND OBVIOUSLY AS ATTRACTIVE AS POSSIBLE FOR INVESTMENT DECISIONS BY INTERNATIONAL DECISION MAKERS WAS TO BE DONE THE 22ND OF THIS MONTH — THEY NEED MORE TIME AND THE MOST THEY WILL TAKE IS 30 DAYS…THAT IS THE OUTSIDE DATE THEY HAVE…ACCORDING TO WHAT THEY STATED IT COULD BE BEFORE. THE INFORMATION THEY INTEND TO HAVE IN ITS ENTIRETY IS NOT DONE — IT COULD MEAN THAT THE RATES GLOBALLY ARE NOT SET IMO — LOGICALLY MAKES SENSE TO ME. [So are they giving us a clue as to when they expect to raise their rate here? 8/23rd?] I DON’T KNOW…WOULD BE NICE.
7-23-2015 Newshound Guru Chattels [reference Guru Kaperoni post 7-22-2015, posts 1 and 2] the foregoing is likely a good analysis/extention of my simplistic statement that the world of international banking and commerce must accept/assign/embrace a value to the IQD…that banks will not exchange an increased value to the dinar if they cannot reliably profit from the transaction. increasingly I am persuaded that it is essential for Iraq to have a long term hydrocarbon law and be able to abide/perform in accordance with the terms thereof…such will require consensus and legislative action which continues to be a challenge for the Iraqi Parliament.
7-22-2015 Newshound Guru Millionday “House of Representatives will reconvene on Saturday…” THIS MEANS THIS COMING SATURDAY FOR FORMAL PARLIAMENT BACK AT WORK. HERE WE ARE AFTER EID — NEWS SHOULD START CHANGING SOME — ACTION. THE HCL HAS BEEN LISTED AS ONE THAT WILL BE COMPLETE AFTER EID… [There was something mentioned about the budget and this coming Sunday. Do you have any ink if they will be opening the budget then?] THEY ARE MOVING THE YEARLY MONEY THAT IS BUDGETED FOR THE KURDISTAN REGION IN ITS ENTIRETY — THE INVESTMENT PART OF THE BUDGET HAS NOT BEEN OPENED YET BUT IMPORTANT LAWS THAT WOULD PROTECT THAT PORTION ETC ARE EXPECTED TO BE ADDRESSED IN PARLIAMENT SATURDAY.
7-22-2015 Newshound Guru Kaperoni Once sanctions were lifted on Iraq, and the banking system, Iraq is free to engage with the world. [so the sanctions have been lifted? is that right?] Yes…sanctions are lifted some years ago. But currently they are under Article XIV with the IMF which is technically called “Transitional” So Iraq is free to engage with any financial instution that is “willing” to take the risk. And many do…Especially since the CBI now guarentees funds/payments from it’s financial institutions. The bottom line, is as long as the CBI is under Article XIV they will have trouble finding instutions to do business with them. Its just the nature of it. Now, once the CBI has met the conditions of the Article IV Consultations…And have demonstrated that they can function by those conditions…They can ask the IMF to give them the blessing of sorts to move from Article XIV to VIII.
7-22-2015 Newshound Guru Kaperoni Article IV Consultations are the name the annual reviews that take place between the IMF and the Central bank. Once the IMF agrees, and the CBI accepts Article VIII, that is like offering a warranty…it makes Iraq much more attractive to global banks and it makes a clear statement that the CBI is in compliance with the IMF. Banks that are conservative in nature (like Wells Fargo) would only do business with other banks that are VIII compliant. I am not saying they would, but Article VIII is a good start for global commerce with the dinar…without it, they continue to struggle for banking partners. So, the article was techically correct..”the Iraqi market is now open to markets Global directly without restrictions”.
7-22-2015 Newshound Guru Adam Montana [Now that Ramadan is over, to the best of your knowledge, what do you see happening now as far as Iraqi government is concerned? What areas will they tackle or will it take a couple of weeks to really get down to business?] We’re going to have to watch the news and see how it goes. We might be on a fast-track, or we might be looking at a couple months before they get cranking. I’m not going to pretend I know the future. I have high hopes for the next few weeks, which is rare for me, but just the same… I know better than to get too excited before I have some solid news.
7-22-2015 Newshound Guru Kaperoni the recent articles about the 50k, 100k notes are not lower denominations, nor are they talking about raising the value of the dinar at this time. The plan, at this time is “status quo” meaning there is no intent to delete the zeros at this time and the issuance of a 50k and possible 100k are to make the dinar more desirable amongst Iraqi’s. The hope is not only to get citizens to use the dinar, but to make it easier to carry in public (at the current exchange rate). Adviser Saleh also states the issuance of these notes will help reduce the physical note count. As for when they will begin to delete of zeros, Magda Tamimi said the deletion of zeros and printing new currency is not convenient at the present time and such a project needs more security stability and should wait until the circumstances improve.
7-22-2015 RUMOR Guru Mnt Goat I have also talked much in the past about the need to have a secure environment in Iraq. Mosul and Anbar, two very critical areas for ISIS occupation. News from the GOI have told us these are the key areas to getting rid of ISIS from Iraq. This is a requirement prior to any RV. This battle began last Monday 7/13 and now it is over a week in progress. We have heard only good news on the successes of this movement. Also we are now hearing they intend to speed up the process of bringing the former prime minister (now deputy VP) Nori al-Maliki to the ICC (international criminal court) for trial based on genocide and other crimes against humanity. We are also now hearing the are literally just days away from striking a deal on the final HCL law…. This new version will also take care of the Article 140…These are all items I suggested we all should watch…and should be HOT items on our radar. We are getting the necessary security and stability in Iraq now and so leaders of Iraq and seeing an opportunity and are suggesting to the CBI that they now jump on this time to finalize the currency reform process.