Iraqi Dinar Guru opinions 12-23-16
Iraqi Dinar Guru opinions 12-23-16
12-23-2016 Intel Guru Frank26 IMO…the budget will be activated on the 31st. If they do…they will need a rate…somewhere between Dec 20-26…Then watch in the next 3 months the RV evolve into the float. They will end with a cap. They talk so much about a 1 to 1. The Minister of Planning and Finance talked about a rate back in 2012…which would have taken it to $3.86…but they weren’t ready. When they raise the rate…it will FLY …and be controlled. It will be further controlled with a cap so that it doesn’t get out of hand like Kuwait…In Kuwait…it got up to $13…it got out of hand. In my opinion…once they reach that cap…it will be allowed to grow past that. Immediately after the RV starts (released)…it will start the process of calculations of the IQD…calculate for at least 3 months.
12-23-2016 Newshound Guru Kaperoni [there’s a reason all of the govt or CBI issued reports outline plans for 2016 or 2017 through to 2020.] All of Iraq’s forecasts are done in 5 year increments. I have stated several times, currency reform is a priority for a market economy. The forecasts are all inclusive to achieve the goal of a vibrant market economy, not 5 years to currency reform. In fact, currency reform/international convertibility is absolutely required before investors will come into Iraq to build a private sector/market economy. Therefore, I continue to believe we will see the reforms begin very shortly so they can achieve the success and growth of the economy to meet the forecast timeframes.
12-23-2016 Newshound Guru 1bobby [With the IQD in US banks. Does that take the IQD out of the exotic currency list?] Nope an exotic currency deals with the trading speeds/elements of the currency. Kuwait is still an exotic due to it’s trading factor. Just them tracking it says a lot. That’s not saying the IQD is “in the banks” just an electronic tracking. Now some banks still sell it but this deals with tracking a “buy sell rate” [I have some that I would like to trade quickly, at a revalued rate of course.] I think we’ll all be dealing with that issue soon.
12-22-2016 Newshound Guru 1bobby I’d say the complete liberation of Mosul would be nice but not necessary. The budget should take place the 1st of January and will be interesting to see it’s implementation. The budget does not hinge on Mosul being liberated. Now when they speak of the Natl Reconciliation, everything hinges on the liberation of Mosul…But…they are taking the steps as far as support for that to be approved and implemented once Mosul takes place.
12-22-2016 Newshound Guru loop Article: “Oil exceeds the threshold of $ 55″ I was reading through the IMF’s SBA 1st review with Iraq and saw that they calculated that every dollar over the $42.00 budgeted amount for a barrel of oil would equate to 1.4 billion dollars more revenue. Not the 1 billion that some Iraqis have been quoted saying. If oil continues to trade at these levels their windfall will be in the neighborhood of 18.2 billion dollars. [No doubt, oil will help stabilize their economy, but non oil revenue will become as one aritcle said an explosion of possibilities in the near future.] I agree. Once the private sector gets rolling oil will not be as big a threat to their economic stability. Diversification is the key and with their nature resources their will be an economic force to be reckoned with.
12-22-2016 Intel/Newshound Guru Mnt Goat THE REVALUATION OF THE IRAQI DINAR HAS NOT HAPPENED! The country of Iraq is still mandated to use the provisional rate as dictated by the CBI. This rate is subjected to the market rate of about 1180 – 1300 dinars to the US dollar. Okay so a few banks are now selling and buying the Iraqi dinar once again in the western countries. I do not yet see it in Europe. Legally they could have resumed trading the Iraq dinar since June 2013 (when Iraq was lifted from many sanctions)… This is also based on the successes against ISIS and the recent statements made by the IMF over the success of the SBA reform progress.
12-22-2016 Intel/Newshound Guru Mnt Goat So, this approval is geared more towards the movement of the Iraqi dinar from article 14 to article 8 of the UN charter under mandates for member nations. This is, of course, terrific news for Iraqi currency investors. Article 8 means to operate under “international” constraints and Iraq now has new obligations under Article 8. They have proven worthy of this move. So logically the currency is now more available to the banking system and is now showing up in many banks. Remember also banks can refuse to trade in any currency if they chose to do so. So not all banks may now have the Iraqi dinar. The Iraqi dinar may now be international but the rate we all expected is not yet shown. This is exactly rolling out like so many good people have told you… this roll out would be slow and gradual. Not before Christmas or before the new year but in EARLY 2017!
12-22-2016 Newshound/Intel Guru Bluedog Article: “Rasheed announced stopping operations of deposit and withdrawal of savings accounts as of Sunday” WHAT A FIND IF TRUE IT’S GOLDEN…
12-22-2016 Intel/Newshound Guru Backdoc I’M WATCHING OIL VERY CLOSELY…I KEEP THINKING OF THE ISX BEING CLOSED FROM THE END OF THE TRADING DAY ON MONDAY THE 27th! I THINK ITS LIKELY THE WINDOW COULD START AT THAT POINT UNLESS THEY CONTINUE TO BLOCK INTERNATIONAL STOCK TRADES UNTIL THE NEW YEAR. IF AN INTERNATIONAL RATE OCCURRED PRIOR TO THE 28th STOCKS WOULD HAVE TO BE BLOCKED FROM TRADING INTERNATIONALLY IF THEIR PLAN IS TO IMPLEMENT ON JANUARY 1st RIGHT?
12-22-2016 Intel/Newshound Guru Backdoc SINCE PRESIDENT MASUM RECEIVED THE BUDGET WITH CHANGES ON THE 18th IT BECOMES LAW EVEN WITHOUT HIS SIGNATURE WITHIN 15 DAYS. I’M GLAD ITS ALREADY SIGNED. INTERESTING THAT 15 DAYS TAKES US TO JAN. 2 nd! JUST AS FRANK [Guru Frank26] SAYS THIS IS PRECISION TIMING. BLACK GOLD, MARKETS REACHING A MILESTONE, AND CONTRACTS WHICH MAKE THE BUDGET NUMBERS WORK. THIS IS NOW DOWN TO TIMING. LET’S ALL ENJOY THE PROCESS FROM LAUNCH TO THE REAL VALUE AFTER MARCH 20 th.