Iraqi Dinar Guru opinions 12-8-16
Iraqi Dinar Guru opinions 12-8-16
12-8-2016 Intel Guru Frank26 Somebody called me…yesterday…they said…“are you sure that the IMF is demanding that Iraq raise the value of their currency, in order for them to get the 2nd loan?” I said “yes.” I believe they are about ready to get their loan…which means they are about ready to raise the value…IMO. Article quote: “The remaining funds will be disbursed contingent on certain performance criteria consistent with the program’s objectives to reform Iraq’s financial and economic policy.” In order to get the 634 Million Dollar loan…the funds are CONTINGENT …to the reform of Iraq’s financial policies. What are those? To raise the value of their currency. What else? They must remove the RESTRICTIONS of the CURRENCY EXCHANGE…The program rate is a restriction. Article quote: “… it will SIGNAL that the currency can be freely exchanged…” This is impressive!!! …it is CONTINGENT…this loan… for the IMF…to see that the MR has to improve and there is so much evidence all over the place. This is amazing!
12-8-2016 Newshound Guru Kaperoni More great news! CBI announces the launch of mobile banking. Welcome to the 21st century Iraq! Let me show a list of what occurred in last few days…mobile banking, electronic credit sharing, ATM’s, Allaq talks floating the dinar. Not to mention the 2017 budget passed today. Is this Iraq? Lol.
12-8-2016 Intel/Newshound Guru Mnt Goat Article: “Deputy: the budget approved in full, the parliament added nine paragraphs to finalize the draft budget law” So the Kurds got the HCl provisions now passed in a legal law (the 2017 budget) so let’s see what this brings…By the way the passing of the budget in NOT tied to getting the RV once approved. There is no trigger to this event with the RV! However, they do need the budget to get the $$$ from the SDR loan installment by the end of 2016. They also need the launching of the currency reform going forward into the first quarter of 2017 to get anymore installment $$. This I know as a FACT! …So let’s see what EARLY 2017 brings us…I also want to emphasize one more time – there is no RV unless the lower denominations are launched first in the “project to delete the zeros”. The CBI has told us multiple time this will not occur until EARLY 2017.
12-8-2016 Newshound Guru rcookie Article: “Central Bank Governor: no room to cancel the sale of the dollar window, if canceled , the exchange rate has become 3 or 4000 and maybe more” Quote: “He noted that the solution in Iraq lies in dollar demand reduction through structural correction of the Iraqi economy, and not through refraining from selling the dollar.” [This means they have to make their currency aceptable in the world’s marketplace so there would be no need for the USD.] THAT IS EXACTLY RIGHT! ITS A PRETTY PAROCHIAL CONCEPT… ACHIEVE IQD STABILITY = REDUCE USD DEMAND IN MARKETPLACE…
12-8-2016 Newshound Guru mike …they won’t be able to RV at 1-$1, there’s 60 trillion in M0 money supply. Even if they came out at a nickel there’d be $3 trillion dollars worth of dinar, which is roughly what the US has. There’s no way a country with a GDP of roughly $170 billion can carry that much in circulation. They have to slowly raise the value of the dinar as the economy grows, there’s no shortcuts.
12-8-2016 Newshound Guru Kaperoni …we have confirmation that the CBI is, in fact, working to meet what the IMF stated in 2012 which said…”staff encouraged the authorities to consider creating the conditions which would make possible a move to a more flexible exchange rate policy. Such flexibility could allow a predictable and gradual appreciation of the nominal exchange rate, triggered by strong oil revenues and the Balassa-Samuelson effect,” Article quote: “but we are working to free the currency instead of controlling it.” …the very definition of a free float is “free the currency instead of controlling it.” Allaq has made it clear they working towards such an event (which is great confirmation). We just don’t know when. …I believe they will have to get off the peg in the near future since they are in the process of launching the market economy. Time will tell.
12-7-2016 Intel Guru RayRen98 Budget: PASSED…We were getting blow by blow reports. Item by item as each passed. Each one being approved and hassled over…Everybody in agreement what is in it. Goes into effect January 1, 2017. Expectation and anticipated it means a revalued currency…and promised, but it still remains to be seen. If I’m asked for a deadline date, I will still say Jan 1, 2017. Rate: May not be revealed until it goes into effect January 1. I’m at this resolution, “It’s Done!” When will we do an exchange? I’m still looking at this week…based on information. CBI Governor on TV said the rate will be global…That they do not want it to float…yet.
12-7-2016 Intel/Newshound Guru Mnt Goat Article: “CBI launched the National divider that allows the holder of a credit card issued by a state bank and a special withdraw money from any automated teller machine ATM is widespread across the country.” Now they are telling us that the “divider” allows the holder of a credit card issued by a state bank and has the ability to allow special withdrawals of money from any automated teller machine (or ATM) and this is now widespread across the country. We knew almost 5 years ago that a contract went out to install ATMs throughout major cities in Iraq. These machines laid dormant and still remain empty as they are not designed for the large 3 zero notes and can not process them for cash withdrawals.
12-7-2016 Intel/Newshound Guru Mnt Goat Note that the CBI is ONLY telling us the mechanisms are in place ready to use the machines, but not yet. We know the other half of the story is not yet in place…that of the new lower denominations being put into the machines. Remember they do not want to disperse more of the 3 zero notes since they collected nearly 80% of them already out of circulation. This is why they moved to all this new technology and SMART card (debit card) processing. So they will not have to put them back into circulation. …So this is very, very good news. Are they getting ready to load these ATMs now with the lower denoms? Hint…Hint…Hint!
12-7-2016 Intel Guru ADMINBILL WHERE ARE WE TODAY WITH THE RV? I BELIEVE WE ARE RIGHT WHERE WE NEED TO BE. IT APPEARS IRAQ HAS FINALLY BEEN GIVEN A LIGHT GREEN LIGHT TO MOVE FORWARD WITH THE FINAL IMPLEMENTATION OF THEIR BUDGET AND LAWS AS A PRECURSOR TO THE SOLID GREEN LIGHT FOR THE IMPLEMENTATION OF THE RV. I BELIEVE THAT MAY STILL BE A WEEK OR TWO AWAY…IT APPEARS OBVIOUS THAT WE ARE BACK ON TRACK TO WHAT COULD BE AN INTERESTING NEW YEAR AND, HOPEFULLY, A WONDERFUL HOLIDAY SEASON.