Iraqi Dinar Guru opinions 1-15-16
Iraqi Dinar Guru opinions 1-15-16
1-15-2016 Newshound Guru OOTW THE FEDERAL REVENUE SHARING LAW HAS HAD TWO READINGS…THIS LAW WORKS IN CONJUNCTION WITH HCL. FEDERAL SUPREME COURT ACT REQUIRES ONE MORE READING CURRENTLY… THE ANTI MONEY LAUNDERING LAW IS PASSED…AS IS THE ISLAMIC BANKING ACT, AND NOW THE INVESTMENT LAW AND I DO AGREE WITH KAP [GURU KAPERONI] THAT THE VERSION OF THE INVESTMENT LAW REFERRED TO IN THE IMF REPORT, IS INDEED THE ONE THAT WAS PUBLISHED TODAY IN THE GAZETTE. …THE INVESTMENT LAW IS NOW IN THE GAZETTE… CHA-CHING! INVESTMENT LAW IN GAZETTE!
1-15-2016 Newshound Guru wmawhite For those of you who maybe concerned about the “2%” spread…. interestingly the IMF isn’t as of this latest document. Here is their statement: “The spread between the official and the parallel foreign exchange market rate receded to around 2 percentage points since August from as high as 16 percentage points in June, as a result of the elimination of the obligation to prove custom duty and income tax payments before “buying foreign exchange.”
1-15-2016 Newshound Guru Adam Montana [With oil at an 11 year low and projected to continue its decline, does this change your opinion about an RV rate of $.10-$1.00?] Nope – I actually foresaw this many years ago. If I had thought the PPB would stay high, I would have projected a higher RV rate.
1-15-2016 Newshound Guru Kaperoni Article quote: “The Iraq Finance 2016 conference gathers together all major stakeholders involved in directing the economic development of Iraq towards greater growth and stability.” …back when Shabibi had the CBI, there were plans for the dinar and a market economy. For whatever the reasons, those were not accomplished. We all know parliament, Maliki, tribal, Iran, etc. all participated in holding progress back. That being said, it’s different this time. This time we have the Prime Minister on board, the CBI Governor, the Finance Minister, and the IMF and WB. Sure it is not 100% but to me (and maybe I am naive) but I see the “potential meter” rising almost daily. Who knows, maybe they will enter this conference in March much further along than we expect.
1-14-2016 Newshound Guru rcookie …GOT THE IMF…PRESS RELEASE….AND WOW! THAT LETTER OF INTENT… …MEMORANDUM OF ECONOMIC & FINANCIAL POLICIES…ALONG WITH TECHNICAL MOU…COMBINED WITH VERBIAGE & CONTENT OF 2016 BUDGET…LEAVES NO ROOM FOR SPECULATION OR…OPINIONS…IT IS IN BLACK IN WHITE…WHAT THEY HAVE DONE…WHAT THEY ARE DOING AND WHAT THEY WILL DO…ALL LAID OUT FOR US! THE BREAKDOWN OF THE IMF LETTER OF INTENT IS SO AMAZING …ALONG WITH THE NEWS IN LAST COUPLE OF DAYS….WOW!
1-14-2016 Intel Guru Blondie Regarding rumors of ships waiting for an RV before coming to port… The price for the cargo (oil, or whatever), was established by contract before it was ever put on the ship – probably weeks (if not months) in advance. Purchase prices don’t change “in transit”. If you bought something on layaway and the seller raised the price the next day, you still get the lower price. Think about it. Oil prices change DAILY, yet tankers are constantly in transit: Buyers would be at TREMENDOUS AND UNACCEPTABLE RISK if they were subject to a price increase during transit. It just doesn’t happen, sorry. Contracts protect buyers if prices go up, and they protect sellers if prices go down. It’s the nature of a contract. The only thing that could occur along “RV lines” might be an “accounting change,” (for either the seller or the buyer (or both) but the VALUE PAID would *have* to remain the same. So there’s nothing to gain by waiting: by law, the contracted VALUE prevails.
1-14-2016 Newshound Guru wmawhite Quote: “under Article VIII of the IMF’s Articles of Agreement will send a positive signal to the investment community that Iraq is committed to maintain an exchange system that is free of restrictions and MCPs for current international transactions and thus facilitate creation of a favorable business climate.” As the CBI moves from the MCP [multiple currency practice] …the IQD will take it true position somewhere on this list of currency value… where, I do not know.
1 Egyptian Pound = $0.13
1 Jordanian Dinar = $1.41
1 Qatar Riyal = $0.27
1 Bahraini Dinar $2.65
1 Israeli Shekel = $0.26
1 Saudi Riyal = $0.27
1 United Arab Emirates Dirham = $0.27
1 Omani Riyal = $2.59
1 Kuwaiti Dinar = $3.31
1 Iraqi Dinar $0.00085
Because of all of the discussion we are seeing about the auctions…IMO, we are about to see this final move away from the MCP.
1-14-2016 Newshound Guru Kaperoni The IMF was ready to grant Article VIII to Shabibi back in October 2012 and since he worked in a very independent and isolated manor he would have done what he felt was right for his currency. That being said, would it have succeeded? Would investors come to Iraq? Would have the GOI passed the laws to continue to create the environment that would invite investment? Probably not… It is very apparent that Shabibi was going forward… otherwise, there would have been no reason to take such abrupt action as to create false accusations and warrants to stop the process. Just think, if Shabibi could have moved to Article VIII back in Oct 2012, they had about 80 billion reserves at the time. Now some 3 years, 3 months later, the reserves are depleting below 59 billion and expected to go lower.