Iraqi Dinar Guru opinions 7-1-16
Iraqi Dinar Guru opinions 7-1-16
7-1-2016 Intel Guru SteveI […you have mentioned you are hopeful for July a few times. Is that based on news or information from your sources?] Here is my reasoning for mentioning July a few times. There seems to be a very good sound agreement between the IMF and Iraq. Now the so called “Letter of Intent” had some very specific details regarding the Foreign Exchange Policy. When I read that section, among other it was very exciting to say the least. However, I have not seen any final document that was signed with the same conditions. It could be very possible that Iraq and the IMF negotiated various terms…and the one in December is not necessarily the one signed in March. If we all knew for a fact that the March final agreement was exactly as the December agreement, I would pretty much say this is a done deal in July or when Iraq receives their first loan payment. The bottom line is, if the exact same terms and conditions were in the final signed agreement, they [then?] you all should start smiling and get ready for something very exciting…
7-1-2016 Newshound/Intel Guru BGG Article quote: “The instability of the dollar exchange rate in Iraq is due to influenced by internal and external factors,” noting that “monetary policy and the auction of the currency too much impact on the dollar exchange rate.” This piece is mainly highlighting the last few stages of “push – pull” before MAJOR ECONOMIC REFORM kicks off. [What happened to them doing away with the auctions?] As of today – they were saying that would be a better option, but until then – this will have to do… (as in removing the auctions altogether). I am not entirely surprised – nor that upset about this recent Fed Court Ruling, this will ultimately end in reforms for Iraq… what the exact route looks like… who knows.
7-1-2016 Newshound Guru mike Article: “Iraq develop a plan to postpone the premiums Paris Club” It’s just another debt they can’t pay after agreeing to it in the past. Iraq will definitely benefit from not having to pay it’s bills. These guys are never going to get above a B- credit rating if they don’t take care of their debts. And it’s not just the Paris Club, they’re also pushing the payments to Kuwait back.
7-1-2016 RUMOR Guru Bruce “the well is flowing freely” no more stops, no more holds. it is a joyous time…SWIFT will no longer be in use as of Friday (tomorrow, July 1). …my sources as saying that this will be the best July 4th that we have ever had in our lives. Not calling in on 4th, just saying in that time frame because of the new system starting tomorrow [Friday]. Rates will be excellent.
7-1-2016 Intel Guru SteveI [On a scale of 1 to 10 with 10 being the highest that this will RV…I mean ever happening? time frame? how about this year? What do you think?] On a scale of 1 to 10, I am going to go out on a limb here and say 9 for the current value increasing. The reason for a 9 is the backing of other international recognized institutions like the IMF, World Bank and others that would like to see Iraq emerge as a successful player in the global economy. Also, Iraq is promoting their country as a place to invest in. They want foreign companies and other countries to participate in their resources. Last I recall, the CBI is reducing the USD within their county and encouraging everyone to use the Iraqi currency. This will never happen at the current rate regardless how much oil they have. Remember, they have many other resources that are not controlled by international groups. Now for the second part of the question, when, very confident this year so I will give it an 8. The reason for this number is that many unplanned events can consume Iraq and perhaps move plans further out into the future.
7-1-2016 Intel Guru SteveI I do not believe that this currency will turn into a zero value because of the various countries and governments holding it. I have no proof of what countries or how much except what has been published in past articles over the past 10 years. Here is another question you may want to ask yourself. If the Iraqi currency is worthless and always will be worthless, why are thousands of people and groups risking prison in Iraq to counterfeit it? My guess is that they know some where down the line this will be worth a lot more that what is is today. If the CBI has no intentions of increasing is value, why are they talking about reducing the large notes and introducing to the citizens lower notes? …it is to start preparing them for a monetary reform which includes the introduction of the lower denominations. This is all positive folks!
7-1-2016 Newshound Guru firefly [Has anyone got the impression that the Brexit may be pushing things faster?] Absolutely! IMO of course. [But will this country actually go through with this… There is talk of delay…?] IMO, they have no choice…THE ENTIRE GLOBE IS A MESS RIGHT NOW. THE FURTHER THIS DRAGS OUT THE WORST IT WILL BECOME.
6-30-2016 Intel Guru Frank26 You will never see the LOI…but you will see fragments of it…and one day you are going to wake up in the still of the night and you will see a rate change for the IQD…and everything else will continue to wait and bow to Iraq’s decision about raising the value of their currency…and until that day happens there is not a whole lot we can do…except to continue to threaten them, encourage them, push them…or drive them into the international theater where you cannot survive with a program rate. IMO…are now working in the direction that we want…for all their reforms…and the Financial Reform is one of them.
6-30-2016 Newshound Guru Kaperoni Article: “Iraq develop a plan to postpone the premiums Paris Club” The worse the conditions get, the more urgent they need economic reform. And that starts with banking.
6-30-2016 Newshound Guru Stryker Article: “Parliamentary Finance calling on the government to prepare for the coming years” A July launch is looking better everyday!!!
6-30-2016 Newshound/Intel Guru BGG Article quote: “in order to control the settling accounts Alkmarki and tax procedures for the purpose of regulating the import and export of materials and goods and adjust the traffic movement amounts in foreign currency, including those funded by the Central Bank of Iraq.” AS OF JULY 1ST THEY HAVE ESTABLISHED AN ENTITY TO REGULATE IMPORTS/EXPORTS WORKING WITH MINISTRY OF COMMERCE AND CONTROL THE CURRENCY… THE FOREIGN CURRENCY MOVEMENT OF TRADE FUNDS INCLUDING CBI FUNDS…AND LOOK WHAT THIS LAW HAS TO DO WITH… THIS DEALS WITH THE COMPOSITION AND STRUCTURE OF ALL COMPANIES IN IRAQ ESPECIALLY PUBLICLY TRADED COMPANIES ON ISX.
6-30-2016 Newshound/Intel Guru BGG one way a central bank controls the movement of its currency is with its value. the CBI may be positioning the banks prior to authorizing/directing them to settle all foreign remittences with the IQD. …in other words… if the CBI is directing the banks to settle all foreign remittences with the IQD – 1182 IQD would be leaving the country for every $1 paid…this is all good. So how does the CBI control the outflow of the IQD? With the VALUE – of the IQD. [Who determines that value?] The C-B-I under the “advice” of the I-M-F (as of recently). [this is great news but won’t the need the pricing index calculation to be implemented?] IMHO – that is a very, quick and easy calculation.
6-30-2016 Newshound Guru firefly Seriously folks, stop looking for a date, you won’t find one (at least not a real one). Just be happy we are in the moment. They are telling us daily exactly what they are doing.