Iraqi Dinar Guru opinions 1-7-16
Iraqi Dinar Guru opinions 1-7-16
1-7-2016 Intel Guru SteveI Article: “Zebari is likely not possible distribution of salaries in April” I have been talking to some of my contacts and so has [Guru] Ray. All of us including our contacts are saying that Iraq has a dismal future under the current conditions. In order to change the value of their currency for the better, there has to be many laws in place. All of the work in the “Monetary Reform Policies” are meaningless with the obvious. No country, or outside companies will come into Iraq and invest to help them develop their economy under the current circumstances. Matter fact, many have pulled out until major changes are made.
1-7-2016 Intel Guru SteveI I did talk to [Guru] Ray last night and he confirmed the very same thing my guys are telling me, nothing will happen until this country is secure. Mosul is, according our sources, the the last major hurdle. Because it is so close to the Syrian border that once that city is back in Iraqi control, then and only then will they attempt to close the border and activate a change in value.
1-7-2016 Intel/Newshound Guru Poppy3 THEY…SAID COMPLETE REFORM BY MID YEAR BUT THE PROCESS TO OBTAIN FULL MEMBERSHIP TO WTO WAS SAID TAKES A MINIMUM OF 5 MONTHS SO THAT TO ME SAYS THEY NEED THE NEW RATE THIS MONTH TO QUALIFY…NOT IN JUNE.
1-7-2016 Newshound Guru wmawhite Article: “Deposit Insurance Law does the economy” the deposit insurance strengthens the investment law activity and is another sign of them moving to a market driven economy…they are showing us their preparations. They are preparing for the move.
1-7-2015 Newshound Guru Kaperoni Article quote: “The other option is how to raise the Iraqi dinar exchange rate, although it may be a risk of selection have repercussions.” I think the move to a market economy is being kept very tight lipped. As a result we are seeing all kinds of opinions coming out on how to solve the financial problems. I don’t see devaluing the dinar as a viable option when Iraq is totally dependent on imports. As well, reducing salaries is not an option as both would cause chaos. I think Abadi is going to look like hero pretty soon when they launch this event (sometime during 2016).
1-7-2016 Newshound Guru BGG […on the10th they are activating the smart cards to deal with tariffs as I understand and was wondering if they did that do you think we might see something then or shortly after?] I have long said – “when you see the tariffs you will see a rate”… if they enact a broad tariff structure WITHOUT a rate (or currency shift of some kind) that would help mitigate the damage to the citizens – I WILL BE STUNNED. I am about 99.75% on this one. …obviously – anything is possible. However, their own economist have warned them over and over… (AND the IMF is involved now).
1-6-2016 Newshound Guru rcookie I AM CONFIDENT IN KNOWING THAT EVERY THOUGHT PROCESS…ACTION…AND POLICY IS BEING DRIVEN BY IMF…WITH THE STATED INTENTION OF BRINGING THIS ECONOMY LIVE IN 2016.
1-6-2016 Newshound Guru Enorrste Article: “Economist: 50 Thousand category did not affect the “inflated” prices in local markets” The simple fact is that there is no way to introduce the 50k note other than as an even exchange. After all, the CBI isn’t in the business of just giving out money. Therefore, smaller notes (or dollars) would have to be given in exchange for the 50 k note. For this reason, then, the total money supply does not change, which means that it cannot be inflationary.
1-6-2016 Newshound Guru Enorrste Having said that, however, Saleh is on record that some of the smaller notes will actually be destroyed as they are exchanged for the 50k notes. The result of that destruction is a reduction in total money supply which would therefore raise the value of the dinar. In other words, this process would actually be deflationary rather than inflationary (one would get more for his dinar rather than less in the market due to the reduction in money supply). This is a good sign. The plan is beginning to fall together.
1-6-2016 Newshound Guru Blondie Article quote: “Finance Minister Hoshyar Zebari, on Monday, the inability to staff the distribution of salaries in the month of April, in the event of continued low oil prices, while noting that there are other options to avoid that… He added that ‘there are seven million people are paid salaries of Iraq’s total population of 36 million’… He said Zebari, that ‘other option is how to raise the Iraqi dinar exchange rate, and although it chooses the risk and could have repercussions, but we thought of not granting full salaries…” Zebari is saying that without immediate revenues, the GOI can’t pay full government salaries by April and oil revenues alone won’t cut it. Also, raising the exchange rate is an important option.
1-6-2016 Newshound Guru Blondie They’re also considering only paying employees a portion of their salaries at that time, the unpaid amount would be an IOU (again, ‘kicking the can down the road’ and not solving the real problem). …he says nearly 20% of the citizens in Iraq work for the government! …the WB/IMF had a loan prerequisite of cutting government payrolls. Clearly, nepotism (family, in-laws, friends (who do nothing) are on the payroll) and corruption is a problem.
1-6-2016 Newshound Guru Blondie IMHO, there’s an *urgent* need to jump-start the private sector. …there would be more jobs than they have “work-capable” people to do them… It’s then possible that people from neighboring countries might RUN to Iraq for work. All these jobs create income taxes and thus, tons of revenue to the GOI. Iraq could go from a ‘liquidity crisis’ to being flush with cash in practically no time at all. Therefore, exploding the private sector becomes the lynch-pin in the plan — without it, the whole plan fails. As Zebari stated, at current oil prices, Iraq would likely become insolvent waiting for oil prices to go up. Revaluing the currency in order to jump-start the whole process is (imho) one of the key first steps. Eliminating ISIS is also necessary and Iraq has also made enormous strides in that effort as of late.
1-6-2016 Newshound Guru Kaperoni Article quote: “the trading category 50 000 dinars did not affect the local market in terms of prices,” The article…confirms that the 50k is in circulation.
1-6-2016 Newshound Guru rcookie ONE COULD ARGUE THAT A SEEMINGLY INCONSEQUENTIAL LAW LIKE MARITIME AND ENVIRONMENTAL LAWS THAT JUST RECENTLY PASSED…ARE FAR MORE RELEVANT TO TARIFFS… ECONOMIC…AND MONETARY ACTIONS THAN ANY AMNESTY LAW IS…ALL THIS PORT IMPROVEMENT…GLOBAL MARITIME COMPLIANCE IS SETTING UP FOR THE HUGE $6 BILLION PORT OF FAW PROJECT THAT WILL MAKE IRAQ THE ROCK STARS OF SHIPPING IN THE ENTIRE REGION AND WORLD…GETTING THEIR BEST PRACTICES IN ORDER FOR THIS VERY IMPORTANT PART OF THEIR NON OIL ECONOMY.
1-6-2016 Newshound Guru Millionday Article quote: “Announced the Ministry of Commerce for import licenses to embrace the receipt of fees and export via the smart card ironing Card as of the tenth of this month…” NOTE — THE SMART CARDS ARE TO BE ABLE TO BE USED BY THE 10TH OF THIS MONTH FOR EXPORT FEES ETC. THE SMART CARD WILL ALLOW DOCUMENTATION AND IT IS BEING ANNOUNCED AS THE BEST WAY TO BEGIN TRADE FEES ETC… HUGE NEWS…
1-6-2016 Intel/Newshound Guru tman23 THE ONLY THING WE NEED TO KNOW AS A FACT IS THE CBI GAVE THE GREEN LIGHT TO LIFT THE 3 ZEROS BACK IN MARCH OF 2015…AND THE 2ND ONLY THING WE NEED TO KNOW IS SHABIBI HAS APPEARED ACTIVE SINCE THAT ANNOUNCEMENT AND HE SAID IN THE PAST THAT THE TIME TO LIFT THE 3 ZEROS IS AT THE START OF THE NEW YEAR…NOT IN THE MIDDLE OF A QUARTER OR HALF WAY THROUGH THE YEAR. THOSE MY FRIENDS ARE FACTS STRAIGHT FROM THE SOURCES THAT COUNT…