Iraqi Dinar Guru opinions 2-28-18
Iraqi Dinar Guru opinions 2-28-18
2-28-2018 Intel Guru Frank26 IN OUR OPINION WE BELIEVED WE WERE 5 TO 7 PIPS DINARS AWAY FROM THE USD…IF 5 TO 7 PIPS AWAY FROM THE USD ITS GOOD IDEA TO SUSPEND THE USD BECAUSE THEY WOULD BE EQUAL! IT GIVES THE PEEPS IN IRAQ ONE TO ONE…TRUMP IN JANUARY SAID USD IS TOO HIGH… BANKS…6 OF THEM, 2 IN JORDAN, ARE BEING DISCONNECTED FROM THE AUCTION BECAUSE THEY ARE DEDOLARIZING…ITS BRINGING DOWN THE USD COUNT IN IRAQ AND ALSO THE LARGE NOTES…IF THAT IS ACCOMPLISHED ABADI WILL BE VERY HAPPY AND GETS THEIR CONTRACTORS BUSY HIRING PEOPLE… ITS VERY SELF EVIDENT RIGHT NOW, USD ON THE WAY OUT… ITS ALL BEING CONTROLLED INSIDE OF IRAQ…
2-28-2018 Intel Guru Frank26 THEY CAN’T HOLD THEIR BREATH TOO LONG… ONCE THEY SUSPEND THE AUCTIONS THEY NEED TO USE THEIR CURRENCY AND NOT AT THE PROGRAM RATE, THAT IS WHAT IS HAPPENING…WS [GURU WALKINGSTICK] EXPLAINED THE NEXT STEP WOULD BE THE RI…ABADI IS DOING IT RIGHT NOW…HE PROMISED IT TO THOSE IN THE KUWAIT CONFERENCE…NO MONEY WAS GIVEN TO ABADI, HE NEEDS THE RI SO THEY CAN DO BUSINESS…WALKING STICK SAID THEY DO HAVE A DATE…THE NUMBERS ARE THERE…DONT LOOK FOR ANY PARTICULAR TIME FRAME, ITS IN MOTION RIGHT NOW AND CAN COME TO SURFACE AT ANY TIME…I AM HAPPY AND EXCITED…WE ARE AT THE RI BUT WE WANT TO GET THE RV…
2-28-2018 Newshound Guru Kaperoni …The market rate is in essence the rate on the street…the dinar is a little weaker than the actual value from the CBI which is pegged to the US dollar which is part of Article 14. In order to meet the stipulations of IMF Article VIII you [Iraq] need to simplify your foreign exchange and reduce the market rate spread which is the spread on the street…The rest of the world’s banking system for the most part is in Article VIII…they have expertise in managing their currency and meet the conditions. This is important because if you’re ever going to accept article VIII and make the dinar internationally convertible you need to maintain that exchange rate for international transactions…
2-28-2018 Newshound Guru Kaperoni …Banks don’t want to lose money. They want to know what the spread is from day to day. They want to know how much it’s going up and how much it’s going down and so on…this has always been an issue since I’ve been in this investment. The Central Bank had to reduce the spread…Shabibi actually did a wonderful job. He lowered the spread within the conditions set forth in their article IV consultations. He got it down to 1200 or so on the street and held it there for 10 months. In September of 2012 he announced he was going to begin currency reform so we assumed he was going to Article VIII at that point. Then of course PM Maliki at the time said No, we’re not ready. We don’t want this to occur…When Shabibi was out of the country for a conference Maliki put out a warrant for his arrest. Which in essence kept him out of the country and stopped the process in it’s tracks.
2-28-2018 Intel Guru Bruce What I am hearing the last couple of days…We know that Iraq’s rate is in their budget which we found was passed last Tuesday, a week ago… Also, we know at that time…all the companies that were in Kuwait for the Rebuilding Iraq Conference that was hosted by Kuwait…received invitation to come back to Iraq, to Baghdad starting tomorrow [Wednesday] for signing off those agreements they were putting together for their companies for Iraq. …even though we heard rates for the dinar, we know what they are and what they are on the screens, fairly accurate rates, we still are not publicly seeing that, not universally internationally …it is not public knowledge yet. Everything I am hearing right now is pointing toward something major happening this week…it should take place any day now, but you know how it is…We heard the 28th is a deadline of sorts. We will see if it is honored or see if it happens. Every indication is all the rates on all the currencies are at a very good level right now. I am excited ..
2-28-2018 Intel Guru RayRen98 KURDS ON TV SAYING THEY ARE DELETING 50,000 FICTITIOUS NAMES THAT WERE ON THE PAYROLL!! (COULD THAT HAVE BEEN THE HOLDUP?) UPDATE: THE THREE PRESIDENCIES WILL MEET ON THURSDAY TO RESOLVE THE ISSUES CONCERNING THE BUDGET. [i thought we weren’t waiting on the budget.] I’M JUST WAITING ON THE BANKS, ANYTHING ELSE IS PERIPHERAL AS FAR AS I’M CONCERNED.
2-27-2018 Newshound Guru Kaperoni …IMF: “Although performance under the Stand-By Arrangement has been weak in some key areas, understandings on sufficient corrective actions have been reached to keep the program on track. Against this background, Directors encouraged resolute implementation of the authorities’ program including continued efforts toward fiscal consolidation, strengthening the financial sector, and implementing structural reforms to promote private sector activity and improve the business environment.” Very key…That is about as stern as I have ever seen from the IMF. I just think were in a good place finally. With the help of the UST and IMF it looks like they got a plan to reduce the spread. And with at 1220 now we are only 7 dinars away from 2%. So by end of week maybe. Can they hold it? Well I think there is to much riding on it to not to.
2-27-2018 Newshound/Intel Guru BGG [What is this 90 day 2 % everyone talking about has it started and does it mean we have to have 2 % for 90 days before a rv?] If I recall correctly, the “IMF 2% rule” refers to the spread between the Official rate and Market rate of the currency on any given day. The rule is, basically – they must maintain this 2% (or less) gap for at least 90 days prior to accepting IMF Article 8 general obligations (as a member country) and concurrently from then on. Now – would the IMF allow them some latitude on the 90 day entry point? Possibly. However, the real issue everyone is stewing over is this… Does this recent closing of the gap between the “Official rate” and “Market rate” forecast some coming change or is it much ado about nothing?
2-27-2018 Newshound/Intel Guru BGG There are articles regularly touting the tightening of this gap…or the “Strengthening of the Dinar against the Dollar” or some other various titles along those same lines. Ask yourself why? Because they know what it means. Whichever side of the fence you are on here, this tightening of the OR/MR gap is the single most visible, interesting and encouraging “data point” we’ve seen in a very, very long time. Personally, as I have said many times, I don’t care if it is a fixed rate, a managed rate, a dirty float, a naked float or some weird combination. I DON’T CARE! My confidence in the future of Iraq is such that, I believe whichever it goes – in a reasonably short period of time, the value will wind up in the same place any way. The key for me? Just get STARTED!