Iraqi Dinar Guru opinions 12-6-17
Iraqi Dinar Guru opinions 12-6-17
12-6-2017 Intel Guru Bruce …I was disappointed today because I was under the understanding we would start today with our exchanges. All the Intel was pointing to it today [Tuesday]. …we started to get the reasons why it didn’t go as we thought. I am back in a positive mood and looking forward to everything coming thru for us. Iraq last week has made announcements. Prime Minister Abadi made announcements about their sovereignty, liberation, removal of ISIS, etc…We are not waiting on those announcements. They have some dates. They had the date December 2nd or 3rd for Iraq…the 5th was another point of intention. Then the 7th and then Saturday is another point of intention.
12-6-2017 Intel Guru Bruce Saturday, December 9th is for Iraq National Wedding day. It is a day of unity in the Middle East…my understanding is 100 or more delegates from the Middle Eastern countries have been invited to come to Iraq in Baghdad for some form of get-to-gather. PM Abadi invited these people to be part of the Iraqi stock exchange ISX. The Iraqi dinar should be part of the parcel of the ISX tradability. They should be at a point now or any day now, maybe Thursday, when that rate is internationally known. …They are done. They have completed everything they needed to be complete. When they got admitted into the World Trade Organization, when the United Nations released them from Chapter 7 and put them into Chapter 8 all these things. When the ISX opened last week sometime, all these things are signs Iraq’s sovereignty is there. Iraq is going to do something major on Saturday if they don’t do it sooner.
12-6-2017 Newshound Guru Kaperoni [do you believe this is gonna happen?] well, it may not…in 4 months Iraq is hold elections…have you all read about Iran’s influence in Iraq? They want to use the elections to get more control…the PM position and we all know Maliki is tight with Iran…so no, i am not sure we will see this happen. Iran needs to be booted. Ababi has a small window of opportunity to get this going. I have seen Maliki stop progress before. We would be fools to think we will see Abadi succeed without some resistance. The good news is the IMF is still pushing reforms forward.
12-5-2017 Intel Guru Delta Urgent from Iraqi TV: The Cenral bank has announced a tender for the printing of new banknotes (small categories) at the international companies. These were already printed but now they are informing the citizens of the lower denominations they will see shortly. THEY ARE PRINTING NEW NOTE…500, 1000 IS NOT NEW NOTE…Shhhhhhh
12-5-2017 Newshound Guru Kaperoni Article: “The central bank boosts banks local currencies from small groups” Quotes: “the printing of the Iraqi currency and replace it with cost amounts”, calling on citizens to keen and maintain banknotes in circulation.” “the central bank has to declare a tender for the printing of new cash papers (small groups) with the global printing companies.” Small groups are fine to begin to float, get the big one’s off the street. Replacement is common. Currency gets worn out and it is the job of the CBI to replace to maintain integrity. Especially when you are trying to build confidence. 250, 500 etc are low enough the CBI probably thinks it also supports the transition as well.
12-5-2017 Intel/Newshound Guru tman23 …don’t know why anyone would be down…they always said 3 zero must be lifted start of new year this is when all banks begin new books…
12-5-2017 Intel Guru RayRen98 […Have they had the grand finale celebration for Victory Week?] That is this week: December 7-11, with the grand celebration falling on Saturday, I assume.
12-5-2017 Newshound Guru Kaperoni …it is published both on the CBI and in IMF docs that 44 trillon is in circulation. There is only one solution…Reduce the physical paper and gradually raise the value via float…the dinar will float with a plan to equal $1. Its in print. You remove the larger 3 zero notes and introduce new smaller notes over time. This process deletes the zeros and raises the value. Latest economist article: “Today, we find it easy in front of the Central Bank of Iraq to work to the principle of reducing the exchange rate gradually to the extent that it can be equivalent to the dinar against the dollar…” Iraq is not a candidate to LOP the Dinar… they have less than 2% inflation… maintained the peg. LOPs happen when monetary policy fails.
12-5-2017 Intel/Newshound Guru sandyf RV is taken to mean revaluation, there is no revaluation of a floating currency, it is appreciation. Revaluation is applied to a fixed exchange rate currency. [The value has been removed, it needs to be reinstated] The IQD has always been the national currency of Iraq, you cannot reinstate something that has not been removed. The value was not removed, it was altered and you cannot reinstate value, that would be a revaluation. …the IQD is a fixed exchange rate currency regime so the options are revaluation and devaluation. People should bear in mind that devaluations are very much easier to apply than revaluation. This is why there has been some very large devaluations but only minor revaluations.
12-5-2017 Newshound Guru G-Lin Article: “The Central Bank strengthens banks in local currencies of small groups” Quotes: “…the printing of the Iraqi currency and replace them cost amounts,” calling on citizens to maintain and maintain Bank notes when trading.” “the Central Bank has announced a tender for the printing of new banknotes (small categories) in the printing companies of the world.” Is this the beginning of distribution of L.D.’s? If so, they did it last month. It just doesn’t make sense to me for CBI to go to the expense of printing 1000’s and 500’s based on today’s value unless they intend to give them a higher value. It cost more to print them than they are worth. Of course they wouldn’t tell us if they distributed anything smaller. That would tell us too much.