Iraqi Dinar Guru opinions 9-15-16

Iraqi Dinar Guru opinions 9-15-16

Iraqi Dinar Guru opinions-predictions9-15-2016 Newshound Guru Kaperoni this should get us all excited…From the IMF SBA…: “The authorities will gradually remove remaining exchange restrictions and multiple currency practice (MCP) (MEFP, 14). Such a move towards acceptance of the obligations under Article VIII of the IMF’s Articles of Agreement will send a positive signal to the investor 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.9 As a first step, the Council of Ministers will approve and introduce to parliament an amendment of the Investment Law, or the CBI will issue clarifying implementing regulations, to remove the limitation on transfer of investment proceeds that gives rise to an exchange restriction (SB, Table 5), as recommended by a recent technical assistance mission of the IMF. As a second step, the CBI will increase the sale of foreign exchange for valid current exchange transactions on the official market in order to reduce the spread between the official and parallel exchange rates (10). In particular, the CBI will, by the end of 2016, make the weekly limits on the purchase of cash at the weekly foreign currency auctions indicative, in the sense that any bank requiring additional cash for legitimate travel expenses for its clients will be able to obtain the required amount above these limits on the basis of appropriate documentation.”

9-15-2016 Newshound Guru Kaperoni So we can see here that the CBI is doing exactly what the IMF dictated. And they are moving closer to accepting the obligations (don’t know the date) of Article VIII. Which we all know Article VIII is the “key” to make the dinar internationally convertible and as a result would remove the dinar from the peg at that time and allow it to float. IMO, they are moving towards the goals of early 2017 (remember the 3 notes the CBI wants to bring out!) Gotta love the line….”Such a move towards acceptance of the obligations under Article VIII of the IMF’s Articles of Agreement will send a positive signal to the investor community” It really is fantastic news because the IMF is not going to let the CBI and banking system stay closed to the world much longer. The plan is in action.

9-15-2016 Newshound Guru Adam Montana [Does the Fitch rating need to get better before Iraq could RV, or would an RV increase Iraq’s Fitch rating?] I did see that Iraq was given a B- or close to that recently? Over the last few years they have maintained a very consistent and very good quality rating, which tells us that they are pulling forward consistently. That’s better than what a lot of other countries have done! Just another reason to hang tight and root them on.

9-15-2016 Newshound Guru Shredd […does the B- rating concern you about our investment? And does the rating have to improve to have the significant increase we’re looking for?] Not at all. Increasing the rating will take significant time and impacts the interest paid on sovereign loans. That said, because of the tremendous support Iraq continues to get, such as the soft loans, this is not having much of an impact.

9-15-2016 Newshound Guru Kaperoni Article: “IMF thank Iraq on “fruitful cooperation and candor,” the first revision of the standby credit agreement” I just love how the IMF works. It is clear, the SBA was the roadmap. And these subsequent meetings in Jordan check progress before the next installment loan. It is very obvious, the CBI was behind on the conditions the SBA “plan” had for the banking system. So they get their orders and return to Iraq and have 30 or so days to get caught up before the next October meetings.

9-14-2016 Newshound Guru Adam Montana [Just to clarify things again. I thought an HCL law passage was or is not a factor into any implementation of an RV.] It’s not “mandatory”, but I place it high in my personal opinion of catalysts for the RV. [In your opinion, do you feel that in this end 1/4 of October Iraq will pull the RV trigger or do you feel it will be in 2017? I’m in the camp of 2017.] I won’t give a date, but I’ve made it clear that I’m positive for progress in the coming weeks/month. [Do you think most of will actually live long enough to see an actual RV?] Yes.

9-14-2016 Intel/Newshound Guru Mnt Goat …THE ECONOMIC AND FINANCIAL REFORMS ARE ALMOST ALL COMPLETED… I am still on the path of window from Sept 1st 2016 to January 2017 to see a significant rise in the value of the IQD. I firmly expect to see between now and January to see the launching of the lower denominations (but no coins yet). When the CBI does launch the new notes (lower denominations) the IQD value will not change. I repeat will not change and the swap (or exchange) by the citizens within Iraq will be a 1:1 meaning the value will be a swap of 1 dollar value for something worth one dollar value. I am being told by my CBI contact that if all goes according to plan we can expect a 90 cents to $1.17 USD rate change within a couple weeks after the newer notes are launched, but only when it is launched AND finally moved to the international exchanges. At this time the plan now is that the currency will be on a float and will no longer be stickily pegged to the USD (as it is today). Instead they plan to move it to a “basket of currencies”.

9-14-2016 Intel/Newshound Guru Mnt Goat Won’t all the hedge funds and investors scoop up the currency and cause a rush on it? Yes – I am told this may happen and the rate could go very high over a period of time. The float, however, will be a “fixed” float meaning it will have a limit. They are not telling me the limit as it is sensitive information…of course. But we did hear Dr Shabibi say in the past that the IQD could sustain up to a value of $16 USD per dinar. This is all we know as FACTUAL and so I will not spread any rumors, hype or speculation on the future value of the dinar. No Rumors, No Hype, just the FACTS, as always!

9-14-2016 Newshound Guru Adam Montana Not much to report today in Iraqi news or Dinar progress, but I kind of expected that. …I’m leaning on October to be a big month in our news. My primary reason for not expecting much out of this week is their last long holiday of the year, Eid-al-Fitr…Eid-al-Fitr goes till Friday this week, and then we don’t have any more long holidays in the immediate future… which hopefully means they will be getting some WORK done.

9-14-2016 Intel/Newshound Guru Backdoc […we have friends who have only VND. IYO, do you see them RVing any time soon or maybe next year?] THEY ALL START THE RACE TOGETHER IMHO! CAN’T HAVE DOUBLE DIPPING BECAUSE IT WOULD DAMAGE THE CURRENCIES THAT GO AT A LATER DATE! IT WOULD INCREASE THEIR NOTE COUNT TOO MUCH. I BELIEVE IT WILL BE AN ASIAN SURPRISE! IMO.

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