Iraqi Dinar Guru opinions 8-4-16
Iraqi Dinar Guru opinions 8-4-16
8-4-2016 Newshound Guru Millionday Article quote: “Iraqi Central Bank revealed on Monday, all give him the government banks until next September, to adapt itself to electronic systems and transactions…” CBI HAS GIVEN ALL BANKS UNTIL SEPT — 4 WEEKS AWAY TO CHANGE TO ELECTRONIC BANKING…BANK WIRING ETC… WHOOOPOW.
8-4-2016 Newshound Guru Kaperoni [What, if any, laws are needed before Iraq can move to Article VIII?] I am not aware of any laws persay that need to be passed, only restrictions that exist in monetary policy that conflict with the guidelines of Article VIII under the IMF. Once they are in compliance, I would expect the CBI and IMF will be working to transition. Under the IMF guidelines, central banks have to strive for Article VIII. [To do this move, would the CBI have to remove all of the exchange restrictions?] Yes. Article VIII is the ideal situation for Iraq which benefits them when it comes to international acceptance and convertibility. Keep in mind, Article VIII and currency reform are two separate issues. I believe the CBI will begin to reform the dinar via float and delete the zeros before Article VIII.
8-4-2016 Newshound Guru firefly Article quote: “The Central Bank called for registration of the Iraqi dinar in the currency market…” Like I said on Monday, I’m expecting some huge news mid-week! And…IMO…this is just the beginning. The news will never put out a real timeframe BUT …WATCH THE EVENTS UNFOLD!
8-4-2016 Newshound Guru Adam Montana […is there a part of any i.m.f. or world bank contract or translations, that tells central bank of Iraq, that when they go electronic banking there must be a value to the dinar…?] As much as I wish there were some kind of entity that could force the CBI to put a specific value on the dinar, I don’t believe anyone can force the CBI to do anything. Yes, there are influences and they will play nice with what other financial entities want, because the end goal is to be an internationally traded currency with a respectable value! But nobody can “force” the CBI to do anything. That’s a good thing, though, because just like they can’t be forced to raise the value… they can’t be forced NOT to raise the value.
8-3-2016 Newshound Guru Kaperoni [Will Iraq have to get control of the MCP for the 90 days prior to a move in the dinar’s status?] It is my understanding that the CBI will have to maintain the 2% spread for 90 days in order to get the green light from the IMF to move to Article VIII. [If the currency is listed on Forex, doesn’t that mean the dinar is now in Article VIII?] Interesting question. I do not know if their is a direct relationship between participation in Forex and IMF Article VIII. IMO, moving to Forex is more than just floating the dinar, it would provide the alternative they need to the daily auctions. Keep in mind, the CBI can float their currency at anytime without Article VIII.
8-3-2016 Newshound Guru tlm724 Articles: “Alusi demanding the president to dissolve parliament and form an emergency government” “Nassif: Defense Minister to offer me a million dollars in exchange for the postponement of questioning for a week” Quote: “I ask you and I ask all those responsible and sensible to dissolve parliament and to move the government of emergency and early elections.” hmm could get ugly…that interrogation of Obeidi has stirred the pot big time. Nassif has accused him of trying to bribe her with a million dollars to delay the questioning.
8-3-2016 Newshound Guru Adam Montana Here’s something I almost never do… a DATE! (Sort of.) Ready? September MAYBE, October I REALLY like. I could be wrong – August is not completely ruled out in my book, but after doing these updates for so many years, and studying Iraq and other countries like a hawk for an even longer time… I think I have a good “feel” for the status. …these first 2 are the bad points. 1. It’s been my experience (and history/news/Google will back this up with facts) that after Ramadan, they (Iraq) either have things lined up and ready to reach a milestone…or they don’t. Let’s face it, nothing major came after this most recent Ramadan. It doesn’t concern me about an “eventual” increase in the IQD, but I’m not going to expect it this week. 2. Remember what I was saying about “watch the oil” for the HCL to grow legs? Oil dipped again. Where it was once on the way back to a respectable $60ish range, it has dropped back down below $40 again. Oil will go back up, and the HCL will get moving again, but I doubt August is our month. Now let’s talk about some positive stuff..
8-3-2016 Newshound Guru Adam Montana 3. The news is showing more and more that Iraq is pushing to get control of ISIS. …I’ve even heard a few comments about how ISIS must be “completely destroyed” before an RV, but that’s just not true. ISIS influence on the stability of Iraq is dwindling. 4. In a continuing effort to bring Iraq as a nation closer together, we see more and more instances of the Kurds getting a larger share of the money. If you think back a couple years, you’ll remember that the biggest obstacle to the HCL has always been lack of cooperation from the Kurds, and for good reason. They were getting screwed! Since Abadi has taken the wheel, that has changed. We are closer than ever to an HCL. It WILL happen. I saved what may be the best for last..
8-3-2016 Newshound Guru Adam Montana One thing we should all know about how a dramatic increase in the value of the dinar will work is that nobody in Iraq (or anywhere else for that matter!) will go into a bank or currency exchange with dinar and then walk out with buckets or wheelbarrows full of another currency. That’s not how it works! We will either have to deposit it into their account, wire it to another account via their bank, or perhaps we will get a cashiers check. Iraq faced a major problem 10 years ago that would have single-handedly prevented the RV, even if it weren’t for the broken GOI and everything else: Technology. Iraq did not have the technology to do a mass conversion of their currency. I am referring not only to the lack of technology in their paper currency itself, which made it easy to counterfeit, but also the technology in how their banks talk to each other, share funds, or even participate in the auctions…before ~2009 the ISX was basically done on chalkboards! …but this is no longer the case. Check this out: “The central bank plans to activate the electronic systems to minimize the cash trading process” …we are nearing the end of this ride. SO MANY things are now out of the way, the path forward is clearing up faster than a lot of people can believe, and we will see a rise in the value!