Iraqi Dinar Guru opinions 9-16-16
Iraqi Dinar Guru opinions 9-16-16
9-16-2015 Newshound Guru Enorrste …the IQD will be destroyed as they come in over time. It will take some time to reduce the money supply from 40 trillion dinars to 40 billion dinars. As this is done the value will increase. It must be done incrementally to avoid a liquidity crisis. With respect to the 50K notes they did NOT increase the money supply. They were issued in exchange for 25000 notes so it was an even exchange. The 25000 notes are either being held at the CBI (thus not part of the money supply, just as any new money held there is not part of the money supply until it is issued) or it has been destroyed. The slight rise in the money supply is caused by the CBI in order to maintain liquidity and has nothing directly to do with the 50K notes. …the 50K notes have done their job: hence, no need for the 100K notes. That job was to initiate the removal of the 25K notes from people’s mattresses. It will be excelerated by the offer of the dinar at 1200 per dollar through these major banks.
9-16-2016 Intel Guru Frank26 [Do you think Frank that Iraq is going to meet the window that the IMF is giving them in the Arabic side of the CBI I believe November…?] Well again I don’t know…that is what we are hoping for…but we will learn more about that status when they come back around the 18th…you think they are on vacation…you think they are celebrating Eid…no…no…they are working like dogs…because they cannot afford to bite the hand that feeds them any longer.
9-16-2016 Newshound Guru Kaperoni Article: “Parliamentary Finance calls to control the rate of the dinar against the dollar” I will say it again…Balassa-Samuelson effect. Once they accept Article VIII (they have to stabilize the exchange rate, spread and meet other conditions first), they then will float the dinar to counter inflationary pressure created by the influx of investment and investors. This will cause the dinar to appreciate in value. It will not happen overnight, but it will happen gradually. With the introduction of the 50, 100, 200 planned for early 2017, we can hope that the dinar will be worth .10 cents by then.
9-16-2016 Intel Guru Frank26 [are they on track for the fiscal RI…?] Yeah… and I think when they come back we are going to learn more about that…not so much about the budget but more about the Monetary Reform which would lead them into the fiscal part…into the RI for us…the Monetary Reform…once they lift the value of their currency…their currency is ours to take for a ride up an escalator in value…a dinar will always be a dinar in the country…but outside the country whatever currency it is exchanged for…well that can be a different story.
9-16-2016 RUMOR Guru Bruce …having the triple witching hour of the stock market happening tomorrow [Friday] is very important in terms of settling the stock market. The stock index futures, stock index options, stock options, all 3 areas need to settle in tomorrow’s [Friday’s] market. They need the liquidity to settle all that. That should occur but needs a lot of new liquidity in the system. That maybe the trigger for this to go by that time. That is what we are trying to say with the triple witching hour. It happens 4 times a year. So far today [Thursday] , we know that the market are open and active available to trade. The faucet turned on so to speak all is running as far as liquidity point of view.
9-15-2016 Newshound Guru Enorrste Article: “The central bank determines the sale of $ 5000 for citzens across the bank Rafidain and Rasheed” If these two major banks are now selling the dinar at 1200 per dollar what do you think will happen in the short term, especially since the street rate is 1290 per dollar? The answer is two-fold: first, this will put downward pressure on the street rate…to bring it in line with the official rate, or at least within 2% of that rate (a requirement of the IMF for entry into Article VIII); but secondly, and this has not yet been mentioned, the lower 1200 per dollar rate will quickly draw in large amounts of dinar from the mattresses of those who were frustrated because the street rate was so low compared to the official rate. This is the secondary but extremely important factor that will be necessary in order to move to a float.
9-15-2016 Newshound Guru Enorrste As the dinars in mattresses are removed and sent to the CBI through these major banks they can be destroyed, thus allowing the CBI to reduce the money supply. Remember, they have to reduce it gradually as the value of the dinar rises. The reduction is enormous, from 40 trillion dinar to 40 billion dinar. This is a part of the mechanism that will make this possible. If the dinar in mattresses do not come out then the float cannot begin or, if it does begin, there will not be enough upward pressure to raise its value UNTIL the mattress money is removed. Thus this move by these two major banks (initiated by the IMF) will help to kick-start that removal process.
9-15-2016 Newshound Guru Enorrste I might add one more point: by using this strategy the need for the issuance of the 100,000 dinar note is eliminated. Originally this note was going to be introduced so that the 25000 dinar notes hidden in mattresses could be drawn out. However, that is only a false ameliorative, since those 4 25000 dinar notes would still be replaced with another dinar note (although larger). However, through this new strategy of exchanging dinar at 1200 per dollar the large 25000 dinar notes can be drawn out of the mattresses WITHOUT replacing them with other dinar notes, thus allowing a direct reduction in the money supply.
9-15-2016 Intel Guru Delta I have some information about the IMF meeting with Iraq…it looks like we might have a window for the date of the currency reform or basically the revaluation of the dinar…I just read it in Arabic…there seems to be a window that the IMF has given Iraq…they told them you have to finish the Monetary Reform of your currency…the internet is not seeing this in Arabic…it says in Arabic they told them to finish the Monetary Reform…and the Economic Reforms before November…
9-15-2016 Intel Guru Frank26 …the information that is on the CBI website in Arabic makes it very clear…[Guru] DELTA translated it for us…and it said very clearly…at this meeting the IMF told Iraq…look you’ve done these things…but you have not done two things…if you want your loans…and that is what…articles are backing it up again…if you want your loans so you can complete your Economic Reforms…do the Monetary Reform…if not…IMO we will come in and we will do everything.
9-15-2016 Newshound Guru mike […if I was going to raise the value of the Dinar, how would I get all the excess Dinar to come back to the bank so I would not have to pay out so much money when it revalues? Lower the Dinar value several times, causing people to panic and cash in their Dinar for the dollar. After the massive exchange happened, then RV! Am I thinking wrong, crazy, or brilliant?] …they’re already making the dinar less desirable, heck, Iraqi’s are trading it for dollars at a 10% loss off of face value. …No one really wants the dinar to start with, other than Iraqi’s, but even they want the dollar because they can buy Turkish tomatoes and other imports with it. It’s just my opinion, but there’s no grand conspiracy to create false illusions about the dinar so they can “pull in as much as possible” before they RV, that’s just something…made up. The IMF has told them repeatedly they need to remove the exchange restrictions and reduce the MCP to 2% or lower, there’s never been a word whispered about reducing note count etc. until after the dinar revalued, then they were going to reduce the note count from 4 billion notes to around 1 billion notes.
9-15-2016 Newshound Guru mike I will say there will be a deeply impactful and profound change when the dinar does increase in value, even if it only goes up to a quarter. That’s a 25,000% increase in the value, it’s nothing like the small and incremental ups and downs of the USD. Can you imagine what would happen if the USD suddenly increased in value 25,000% percent? Think about it this way, even at a quarter, 40,000 dinar will buy you a nice meal in good restaurant in Baghdad, after the raise in value, an Iraqi will be able to buy a Toyota pickup. That’s a massive difference. What if that same Iraqi instead takes his 40,000 dinar to Jordan or Kuwait? Heck, he’s staying in the poshest hotels and eating the finest falafels he can find. Not only will Iraq feel the increased purchasing power of the dinar, but the whole world will experience it as well…IMO..
9-15-2016 Newshound Guru Kaperoni Article: “Rasheed Bank proceed to sell the dollar for travelers dinars 1200″ This should quickly reduce the spread to within 2% as others follow to compete. Again, the CBI is trying to get in compliance. This is great news to meet the IMF directive in the SBA.
9-15-2016 Intel Guru Jester I THINK I HAVE TOLD YOU BEFORE THAT THERE WOULD BE A PROGRESSION OF EVENTS RATHER THAN A SWITCH FLIP…THEY WILL NOT LIKE TO LET EVERYONE KNOW WHAT IS GOING ON MORE THAN ALREADY DOES…A FEW MORE UNDER THE RADAR THINGS LOOK TO BE LINING UP…THIS MIGHT TAKE A LITTLE WHILE TO ROLL THROUGH…THE IMF AND WORLD BANK SEEM TO BE A LITTLE BUSY WORKING FOR THE AIIB APPARENTLY…GETTING A FEW THINGS DONE IN THE BACKGROUND PREPARATION…APPARENTLY THOSE CONTRACTS ARE ALL READY TO ROLL… WHICH IS HOW THEY ACTUALLY LINED UP THE STUFF THEY LIKED TO HAVE…WHICH ALSO IS THE REASON THEY DON’T NEED US SO MUCH NOW…BACK IN THE DAY BEFORE ALL THE OVERPRINTED DINAR WAS BROUGHT FORWARD…OUR POSITION WAS MUCH BETTER AND IN DEMAND.