Iraqi Dinar Guru opinions 2-10-17
Iraqi Dinar Guru opinions 2-10-17
2-10-2017 Intel Guru Frank26 I was talking to some of my friends…who have invested for many, many years in Iraq…like 8 years now…my friends have established businesses in Iraq…not profitable at a program yet…they haven’t made a penny…but they are in IRAQ! One of them told me that they have these ATM machines…and the CBI wanted them to install the ATM machines. So they did…and he said that “we’ve got over 1,000 machines in the Northern region of Iraq…but they are NOT programmed yet for the new monetary platform that they are trying to establish. The software is different. The old machines don’t recognize the lower denoms. You know what’s on this ATM? “MASTERCARD” with their big logo…which says “INTERNATIONAL”.
2-10-2017 Newshound Guru MadDScout “A parliamentary committee proposes assigning state – owned companies to guarantee deposits of private banks” This is trying to create FDIC (like) insurance for deposits… I think it would be very important if one wants to regain trust in the banking industry in Iraq…And the advances in the ecommerce are helping also. A report 2 days ago says Iraqi spending is up 70-80%. We have been seeing these steps recently all being put forward…There is much work going on even if the 3 zero project appears on hold… The project only waits on the right conditions…
2-10-2017 Newshound Guru Breitling ….We’ll wake up and just find out. At what rate? At what pace? We don’t know…let’s say it revalues at .05 cents or .10 cents… I’ve been trying to talk people into understanding what could happen and not jumping off a stinking bridge or jumping out of a basement window because it doesn’t come out at a dollar seven the first night. The value will go up. It will progress. The value will keep going up….don’t get stuck on the day it’s going to revalue and what it is. It’s going to take a while to trend…and how the market in Iraq reacts. It’s not a magic wand. It never was and never will be.
2-10-2017 Intel/Newshound Guru Mnt Goat I do not normally talk much about the banks but I will make an exception today. Earlier this week I was called by my banker who told me that a fresh set of rates appeared and he was called by the head office to anticipate currency rates going live very soon. So we know the rates have been re-run and refreshed downstream to the banks. We know this operation is done in the USA and so it already tricked down to European banks. Could they change again and get refreshed again? Yes – but this usually means they could go live soon, as I was told… The bank manager is a friend of mine…So no rumored bank stories here. This could mean something or it may not. But it was a tid bit I thought I would share.
2-10-2017 Newshound Guru loop Article: “A parliamentary committee proposes assigning state – owned companies to guarantee deposits of private banks” Quote: “Parliamentary Finance Committee has proposed converting an Iraqi insurance companies to the guarantor institution to domestic banks in order to restore trust between the citizen and the banks.” This is something right out of the IMF SBA banking reforms. They need to guarantee those deposits and it appears that they have figured out a way to do just that. If the citizens do not trust the banks the economy will struggle. The banks need the liquidity.
2-9-2017 Intel Guru Frank26 [Guru] Delta…said that the CBI website has…No program rate since the 4th of January…The cash portions haven’t been labeled…There are no LOC’s in the auctions – anywhere…Now the auctions don’t even show any remittances. The CBI met at 10am on Tuesday with many, many big bank managers in Iraq and they talked…about their INTERNATIONAL banking structures…money transfers…and WHEN they are planning on going INTERNATIONAL. …have you seen any auction lately at the CBI? No! No more auctions! No more MCP’s? We are inching closer and closer to what the UST and the IMF wants… …don’t forget the IBAN and the SWIFT codes – they are also ready. Have they been APPLIED? Yes! All the IBAN numbers are established. All of the banks in Iraq now have IBAN numbers! …the IBAN has been active since January 2nd. Oh man! We are INTERNATIONAL! …this is very exciting! Another indicator that the monetary reform is SOLIDLY in place and ACTIVE! Very exciting!
2-9-2017 Intel Guru Frank26 On the spreadsheet…CBI website…the cash portion that was being shown on the Arabic side…auctions stopped…on Monday. No more numbers of cash…No more credit numbers…No more remittances for world transfers. Everything …is gone…just like the rate did on the 4th. So…can all banks in Iraq do transactions internationally freely …on their own? Yes! Now the CBI doesn’t have to do all of the work (paperwork) to move money for the banks. Those days are gone! No more CBI telling the bank branches how to do international transfers. This is a BIG step of the monetary reform! Moving from MANUAL to ELECTRONIC to do business with an international world! The only thing that is missing is an INTERNATIONALLY accepted RATE…NOT a program rate.
2-9-2017 Intel Guru Frank26 In addition…the eDinars were launched! Why are they important for the US Treasury and the IMF? eDinars represent SECURITY and STABILITY. From the 12th to the 15th of February. [Guru] Delta and I believe this to be a good window to see a change in the rate. IMO…from the 12th…if they wanted too…they could approve a NEW RATE for their currency…then 3 days later…legally…they could put it in the UN Operational Rates on the 15-16th. Isn’t that interesting? The coming weeks…they have BIG reasons to lift the 3 zeros from exchange rate…and bring back the GLORY DAYS of the IQD.
2-9-2017 Newshound Guru Kaperoni Article: “Source for “tomorrow Press”: Ministry of Transport decides to adopt Iraqi currency instead of foreign selling tickets” Quote: “The source pointed to “the impossibility of receiving the amount of ticket sales in Iraqi dinars on the basis of the US dollar because of the exchange rate variation in local markets.” A step towards convertibility! “Exchange rate variation” is referring to the spread. Or market price which has come down a bit in recent weeks (from 1300 to now about 1280). They appear apprehensive to sell tickets in dinar until the market price is stable in Iraq. It has nothing to do with the CBI price of the dinar/dollar. But like I said, since they are talking about selling tickets in dinar, it is a good thing and a move towards what we all want which is international convertibility. Keep in mind the airline states that their system is currently selling tickets based on dollars ($). Which makes sense. Allowing some to begin to buy tickets in dinars is a good sign of what is to come.
2-9-2017 Intel Guru ADMINBILL EXPECTANT NOW THROUGH SATURDAY. ALL CURRENCIES.
2-9-2017 Newshound Guru loop Article: “US Treasury pays tribute to the fight against the central bank for the financing of terrorism and money laundering” The US Treasury is pleased at the speed in which Iraq has gotten the electronic system to monitor the movement of the money in and out of Iraq up and running. This shows just how serious Iraq is about stopping the financing of terrorism and money laundering. Which is a huge part of the IMF SBA. Remember that 83 people just finished a training with KPMG last week and before that there were multiple articles about trainings of how to detect suspicious activity. THIS NEWS IS SO ENCOURAGING. THEY ARE DOING WHAT THEY NEED TO IN ORDER TO ENTER THE FREE MARKET IN SOME FASHION.
2-9-2017 Intel/Newshound Guru Mnt Goat I am told his voice sounded very optimistic and the government is now coordinating other tasks to coincide with the completion of this event. Part of these “other” events coinciding could mean the revaluation of the Iraqi dinar. This would provide the needed catalyst to spark the economy. From all I am hearing, reading and surmising it could happen anytime between the “full” liberalization of Mosul announcement is made by Abadi to a few weeks afterwards. Remember we are still well within the EARLY 2017 timeframe. Just my opinion – If they continue to progress in western Mosul as they are moving forward at their current pace they should be completed at the latest by end of next week. …Give the CBI time to swing into movement and complete the final tasks necessary and we might see some rate movement by the end of February. For a farthest out timeframe (if you want one) I could say the end of March.