Iraqi Dinar Guru opinions 7-25-17
Iraqi Dinar Guru opinions 7-25-17
7-25-2017 Intel Guru Frank26 IMO – the 3 zeros are lifted and the citizens are not using USD’s anymore – and Abadi is in harmony with Allak. The 95/5 was masterful! The IQD is going through a REDOMINATION …leading to a REVALUATION of their currency because they are going to lift 3 zeros – which will bring in a REDONIMATION as they introduce their LD’s. Meanwhile…the Rafadian Bank now says that they seek working with retirees outside of Iraq with an electronic card on an international level. Allak told the citizens to expect a “break thru” – do you think the ATM’s would qualify for that? Especially if they can’t dispense 3 zero notes? Soon…the CBI will be coming out to all citizens, all banks to make an announcement…
7-25-2017 Intel Guru Frank26 If they announce in the coming days…something very big…like the ATM’s…would that not only force them to use their own currency? This could explode their economic reforms. An article came out a few days ago that told everyone in Iraq…that they have ELECTRICITY RESERVES…and power 24/7…you cannot do banking with sporadic electricity. We have been waiting for the electricity to come on to ACTIVATE things for the monetary reform. Electricity was needed…do you understand the POWER of this? Do you understand…“THEY TURNED IT ON?! The ATM machines will be lit-up like a Christmas tree! ELECTRICITY — is ready to take Iraq into an INTERNATIONAL world.
7-25-2017 Newshound Guru mike Article: “Electronic trading and safe way to get the economy moving” Iraq is a cash society, as soon as that money hits their accounts they’ll go to the ATM and pull every dinar out. No one trusts the banks, they still need deposit insurance and banks that operate eight hours a day. This is a utopian view of the future, I wish they’d focus on the current realities and get their banks safe for deposits and move towards an open market economy.
7-25-2017 Intel Guru RayRen98 [We would rather expect Abadi to make an announcement – what if someone from the CBI were to make an announcement (if in fact there is an announcement)?] My sources are not saying anything about announcements just now; they did expect an announcement about the liberation of Mosul, and Abadi did make that. I think it’s less about announcements and more about action now. [I have heard that the passing of the supplemental budget forced by the IMF signals the CBI to implement the RV. Any truth to this rumor?] That is the expectation. [Do you think this week might finally be RV week?] This week looks pretty good; I think this is our last full week looking for this, if it all goes according to the way I’ve been told. It might spill over into next week to wrap this up.
7-25-2017 Newshound Guru chattels […does the power lay with the CBI or Abadi?] My belief is that it is rather unimportant who has the power between the CBI and the office of the PM. What is important is whether any “public rate” is acceptable / sustainable in the world marketplace. [so a float would answer that?] The bottom line to me is what “amount” a sovereign nation is willing to exchange their “dollar” for in dinars? A float rather presumes that there is a value to the dinar initially and whether that value will be stable or increase, eh?
7-25-2017 Intel Guru Daz WHEN A SATISFACTORY CONDITION AND ALIGNMENT OF ALL THE VARIOUS INTERESTS AND POWER STRUCTURES HAVE REACHED A POINT OF REASONABLE SATISFACTION THAT THEIR INTERESTS AND GOALS ARE MET… THEY WILL JUST AS SIMPLY… “TURN THE MONEY BACK ON”.
7-24-2017 Newshound Guru Kaperoni Article: “Governor of the Central Bank of Iraq inspected the headquarters of the International Development Bank” They clearly seem to be getting ready for international banking!
7-24-2017 Intel Guru RayRen98 The CBI talked about economic reforms in the next few days, and said that they would lose IMF support if they didn’t get it done! We haven’t had confirmation of lower denominations. IT was said that the supplementary budget had to be passed first, and we understand that when it is passed, the rest will appear in the next few days. Over the weekend, we were told that the budget was approved and it should show up in the Gazette on Wednesday. Iraq has a meeting …1. August with the World Bank about their 580 billion dollar loan, and reforms must be in place before that time. The CBI has submitted their paperwork to the World Bank, and I guess we are waiting for the IMF and World Bank to sign off on it. So we are looking for this to unfold prior to August 1, or on August 1. We’re feeling pretty good about the 1. August, or before, unless something unforeseen happens. It looks like we are at the end of this ride, based on the information.
7-24-2017 Newshound Guru mike [Getting the dinar into Article VIII would be the first step into stopping the auctions? That would mean the spread would have to be 2%; how close are they to that at this time?] Great question, here’s the thing, if Iraq un-pegged today there would be no disparity between the market and street rates, although, the IMF has advised them not too. Why? Because if they do, the dinar will more than likely drop to somewhere around 1500-$1 which would increase inflation and the pain the citizens are already feeling. Without an economy and exports other than oil, there’s next to zero demand for the dinar and that won’t change overnight, we’re still waiting for the needed legislation to encourage internal business creation and foreign investment.
7-24-2017 Newshound Guru mike Demand for the dollar is high and will only get higher now that ISIL is out of Mosul, construction and other imports are going to be needed and that’s all bought with dollars. The IMF has placed a minimum amount of time to hold that 2% spread and that’s 90 days, so, the minimum amount of time necessary to get the 2% straight is 90 days, in addition to how long it takes to actually get the spread to that minimum, say a month or twenty, it all depends on what the CBI can do.