Iraqi Dinar Guru opinions 1-25-18
Iraqi Dinar Guru opinions 1-25-18
1-25-2018 Newshound/Intel Guru Mnt Goat …update to a recent conversation with my contact in the Central Bank. Folks it does not get any better than this to confirm what I (and others) have been saying about a very good timeframe for the month of January to see this revaluation to occur. Q: In past news articles we read that some of the categories of the lower notes have been distributed to the banks within Iraq. Is this true? A: Yes, but not all the branches. …This effort was a year long effort and is now completed. Q: When do you plan to turn on the ATMs with these new categories? A: These new notes will be loaded into the ATMs and the bank windows soon if not already at some banks. I can tell you this timing is on conjunction with paying the govt payouts (salaries, pensions, etc.) for the month of January.
1-25-2018 Newshound/Intel Guru Mnt Goat Q: What are the new category notes? A: Iraq can expect to see 1, 2 dinar coins, along with 5,10,50,100, 200, 500 and 1,000 paper notes as common categories. Also ¼ and ½ dinar coins along with 5, 10,100 coins. This distribution however must be a slow and gradual distribution as the marketplace demands. As you may know we did launch the new secured 50 notes in 2015 but postponed the 100 and 200 category notes planned for 2016 distribution but are now ready. The 1,000 note is already in circulation but we are working on a newer polymer version with new security features to come out soon.
1-25-2018 Newshound/Intel Guru Mnt Goat Q: Has the rate of exchange (IQD vs USD) changed within Iraq? A: The rate of exchange should be transparent within Iraq except for merchants and businesses. When the CBI is paying out January salaries and pensions we are paying under a much higher rate. This rate is based on an early December agreement with the IMF.
1-25-2018 Newshound Guru mike Article “National Investment: Kuwait conference will offer a strategic and 157 medium-sized projects” I’m really looking forward to seeing what comes out of this conference in Kuwait. Like most investors the whole point of investing is to allocate money with the expectation that I’ll financially benefit in the future. I’m wondering how these guys are going to drum up this kind of money without the open market functionality to repay these investors…
1-24-2018 Intel Guru Frank26 [During the 72 -78 days, will the value stay at 1:1 or will it still be moved up in controlled steps before the free float?] STAY AT 1 TO 1 TO DRAW IN 000’S. IMO ABOUT 72 TO 78 DAYS POST RI THEY WILL ALLOW THE FLOAT TO BE FREE.
1-24-2018 Newshound Guru Adam Montana Dinar is in a good spot. ALL of the points I hit in my last 3 updates are still moving forward, and FINALLY I get to say something I rarely get to say: Not only are the things I mentioned in my last 3 weekly updates moving forward… they are moving forward with NO snags that I can see. ZERO. NONE. There’s a VERY good chance that we’re going to scoot on into February with solid ground under us, we should see a successful re-election of my man Abadi, and HCL simply can’t be avoided forever. At SOME POINT they are going to be ready to pull the trigger on this damn thing, and the “perfect scenario” is so close we can almost TOUCH it. Hang in there, friends! We made it this far, there’s no reason to jump ship now. [reference Guru Adam Montana’s post between January 3rd and January 10th 2018.
1-24-2018 Newshound Guru Kaperoni Quote: “Foreign exchange markets in Baghdad, on Wednesday morning, a decline in the dollar exchange rate against the Iraqi dinar. …The selling price of the dollar is 1245 dinars, or 124 thousand and 500 dinars, for one hundred dollars.” Spread has dropped to 1245.
1-24-2018 Newshound/Intel Guru Mnt Goat So this week much hype about a news article with the CBI governor at a Central bank branch in Basra. Pictures were included… I want to bring to your attention one picture in particular. This picture is of Alaq holding up a very large note. Many started to spread rumors that his was of the new one dinar note. This simply is not true. This is instead a 1947 era note from the past…in 1947 timeframe the Iraqi dinar was valued at $4.86 (USD)…
1-24-2018 Newshound/Intel Guru Mnt Goat Now if we go to more recent announcements from the CBI they have told us they want to bring back the value of the dinar to this time period. Do you wonder why this Basra branch is highlighting this older note? The CBI is simply proud of what they are doing with the currency as they are showcasing their efforts for the citizens to see and read when they walk into the Basra bank. But this showcasing effort does not stop at the Basra branch. This is happening all over Iraq in all the banks. …this is part of the education process.
1-24-2018 Intel Guru Bruce When are they going to show publicly the value of their dinar either on their website or some other way? CBI site is probably where people would think it would have to be or just plain out and be on the Forex. I don’t think the Forex will come out until the public at large, not just us, is ready to begin exchanging. What is showing on the new Qi cards in Iraq, these are for Iraqi citizens or dual citizens if you happen to be one, there is an in-country Iraqi dinar rate already on that card as of yesterday [Monday]. We saw it…It is over $4 and it is a good rate for in-country Iraq. There is also the Iraqi dinar and the other currencies…on back screens at the bank, not the front teller screens but back screens. All the currencies were live yesterday [Monday] and showing real rates. Not tiny little rates, but real rates. I think that is a good indicator.
1-24-2018 Intel Guru Bruce There are some new Iraqi bonds that will be offered for sale to the Iraqi citizenry at 8:30 in the morning Baghdad time tomorrow [Wednesday]. That is half past midnight tonight EST. What is significant about that? To have a bond that is to be available or open for purchase tomorrow for Iraqi citizens you have to have a rate tied to it. Those same bonds are being traded tonight [Tuesday]. We have people doing that. There is a rate tied to those bonds already. That is amazing. That is another good indicator. That would be essentially another in-country rate, and higher than it was yesterday. It is indicating that things are happening there that we are very close. We don’t know the when, the day or hour exactly, but we have heard bankers talk about this week and we have heard others talk about before the end of the month. I think we are in a good place to get started.
1-24-2018 Newshound Guru G-Lin Article quote: “Prime Minister Haider al-Abadi has announced his intention to pursue the corrupt in the country after the expulsion of an organization calling for the end of last year, but the campaign is facing severe criticism.” This pretty much tells us what we expected. Protection of the corruption for the wicked. And it seems Abadi is outnumbered. Time will time. This is NOT an example of a Democracy. I have been watching this develop ever since they amended the Amnesty Law. It doesn’t surprise me. However, regardless of the political developments we still continue to see economic reform.
1-24-2018 Newshound/Intel Guru Mnt Goat Article: “CENTRAL BANK THE ADEQUACY OF THE IRAQI RESERVE FINANCIAL REACHED 160% ACCORDING TO THE STANDARDS SET BY THE INTERNATIONAL MONETARY FUND” Quote: “The joint financial reform program with the IMF aims to improve financial management and fiscal discipline by controlling expenditures and increasing revenues, AND WE ARE KEEN TO IMPLEMENT REFORMS IN ALL OUR INSTITUTIONS AND MINISTRIES,” AL-AALAK TOLD A NEWS CONFERENCE IN NAJAF.” This is the CBI so I would guess he is talking about banking and currency reforms? …the CBI reserves might have an impact on when they would RV. In other words in past attempts the reserves were high and now they are at levels just as high.