Iraqi Dinar Guru opinions 12-6-15
Iraqi Dinar Guru opinions 12-6-15
12-6-2015 Newshound Guru Millionday Article quote: “…there is an urgent need for action to raise the value of the dinar in the exchange market through direct and constant intervention of the Central Bank Iraq…” THERE IS AN URGENT NEED TO REVALUE AND ALSO ADD IT TO THE MARKET…THE CURRENCY MARKET… IT IS URGENT TO CHANGE THE EXCHANGE RATE TO A RATE THAT IS COMPETITIVE IN THE MARKET AND WILL BE IMPACTED BY SUPPLY AND DEMAND AND ALSO THE OTHER RATES OF CURRENCY THEY DO BUSINESS THEY HAVE AGREEMENTS WITH. THE SUPPLY AND DEMAND WILL HELP THEM DECIDE THE NOMINAL VALUE OF THE DINAR AGAINST THE INTERNATIONAL RATES. THE MOVE ON THE EXCHANGE RATE IS FOR THE SUPPORT TO MAKE THE CURRENCY INTERNATIONALLY ACCEPTED AND SUPPORTED. WITH THE NEWS OF THE 20-16 BUDGET READY FOR VOTE AND PARLIAMENT READY AS WELL AND ALL THE REST OF THE NEWS WE HAVE SEEN >>>THIS IS FANTASTIC…WHOOOPOW.
12-6-2015 Newshound Guru wmawhite Article quote: “…there is an urgent need for action to raise the value of the dinar in the exchange market through direct and constant intervention of the Central Bank Iraq…” this is SUPER. It is more confirmation of what the IMF announced three weeks ago.
12-6-2015 Newshound Guru Kaperoni Article quote: “The auction currency on growing despite many appeals to the Central Bank need to reduce such sales of hard currency, especially since such sales sometimes cover the reserve value negatively affecting its quantity…” Well, the auctions cannot end until there is a new mechanism to take it’s place. And that would be the float and more than likely Article VIII as well. As long as the dinar stays pegged and the CBI runs a currency board, auctions are the method. They need to grow up the banking system and take the next step for sure. When? My guess is we won’t see any movement until the laws are passed. All we can do is watch.
12-6-2015 Newshound Guru tlar [via GSJR] There is a lot of discussion in dinar world about the 2%. Some gurus claim Iraq must maintain 2% spread for 90 days. None of this applies in this case because Iraq having a program rate (made up rate), and being an article fourteen currency is not under the same rules as an article VIII currency. They must demonstrate to the IMF that they can control the currency…but they are not required while under fourteen to do this long term. By changing the rate they are now qualified to go to article eight as the rules do not require them to get there and hold for a quarter but rather be there to qualify. Article fourteen does not require them to be at 2% at all as demonstrated over the last two years. Iraq is now prepared to monetarily make a change at least in the short term. The money vendors will make adjustments quickly and the street rate will follow the CBI rate if they let this drift.
12-6-2015 Newshound Guru tlar Whether or not they pull the trigger quickly or are just putting their toe in the water to test depends on many things and their thoughts on timing. Sometime in 2016 not specifying early or late 2016. The IMF indicated that early in 2016 Iraq would open their economy. I think the two, monetary reform and open economy will happen within days of each other. They are intertwined like taxes and tariffs and monetary change. “You can’t have one without the other”, as demonstrated by the protests the last time they tried to implement them and their subsequent cancellation and postponement of them. Iraq for some reason now wants to attend the next OPEC meeting to discuss applying quotas for all members including Iraq, dropping OPEC production 1.5 million bpd. Very interesting coming from a cash starved country fighting a major war against terrorism with millions of refugees and a major liquidity problem. The forex’s are suddenly bouncing around after years of stagnation.
12-6-2015 Newshound Guru tlar Something is happening like it has never done before. ISIS is being decimated in Iraq and Mosel is in the process of being reclaimed. The parliament is dead set on getting the budget done this year and will forsake working on any new laws to finish it. 2016 is certainly starting to look like a strong bet. I believe earlier rather than late…it’s getting exciting again. We are seeing so much happening all at once. This investment sure looks like it might finally be ready to come to fruition very soon. IMO the positives way out weigh the little bad press over the last few months. A time to get excited.
12-6-2015 Newshound Guru firefly Shabibi was on the verge of doing something in 2012. Just before he rolled out his plan Maliki raided the CBI and put everybody in jail except for Shabibi who somehow managed to escape. In 2013 Abadi AND Saleh told us the deletion of zeros project will occur in 2015 AFTER THE NEW PARLIAMENT.
12-5-2015 Newshound Guru firefly The 1st step to the public monetary reform began on the 1st when the CBI changed their rates. They told us they would adjust 2 days prior…And sure enough… They must turn the currency on before the LDs and fils are distributed to the private sector! The LDs are worthless at the rate they are now.
12-5-2015 Newshound Guru Millionday HUGE ANNOUNCEMENT THAT ELECTRONIC BANKING IS READY FOR ALL TRANSACTIONS — EXTERNALLY AND DOMESTIC… THE CANCELLATION OF AUCTIONS IS A GREAT MOVE DUE TO THE RATES THEY ARE BEING SOLD AT AND ALSO THE DATE — EVERYONE KNOWS WE ARE IN A GREAT PLACE AND IRAQ IS GETTING ALOT OF THINGS DONE — MANY LEADERS ARE IMPRESSED BY ABADI. NOW IS THE CHANCE TO CHANGE THE VALUE OF THE DINAR.
12-5-15 Newshound Guru mike Iraq’s in a pickle, if they stop or reduce the auction’s, the dinar will drop to 1400 – 1 or so like it did earlier this year. If they don’t, the reserves will continue to erode. Without the dinar in in Article VIII, they can’t buy the imports they need and they can’t, according to the IMF, get into Article VIII until they’ve held the spread to 2% for 90 days. Something’s got to give at some point.
12-5-2015 Newshound Guru Millionday REGULAR BANKING — VISA AND INTERNATIONAL CALCULATIONS… THEIR BANKING WILL COMPETE NOW IN INTERNATIONAL BANKING AND LOCAL WITH A PART IN THE ISX AS WELL. THIS MEANS ELECTRONIC AS IN ATM AND INFO SHARED TO CASH CHECKS AND USE VISA ALL OVER…THIS IS HUGE…TAKES THEM TO MARKET AND MODERN BANKING AND GLOBAL MARKET.