Iraqi Dinar Guru opinions 3-20-18
Iraqi Dinar Guru opinions 3-20-18
3-20-2018 Newshound/Intel Guru Mnt Goat Article: “THE WORLD BANK ARRIVES IN BAGHDAD” …they are working out the details for the transmittal of the first payment from the donor conference of the 30 billion. I am told they are not going to do this until the oil and gas law and Article 140 and currency reform is completed. Is this then true. Today we read that the oil and gas law is done [reference Mnt Goat post 3-19-2018] and now we wait for the other two items.
3-19-2018 Newshound Guru mike Article quote: “Alsumaria News / Baghdad , the US dollar exchange rate prices continued to decline against the Iraqi Aldnyar in exchange central struggle in Baghdad, local markets on Monday (March 19 2018). Kifah Stock Exchange – Baghdad 121.150, while the prices for Sunday was 121,300. Selling and buying prices in the money market Selling price of the dollar = 121,500 dinars. The price of buying the dollar = 120.500 dinars” [They cant keep doing 200 million dollar auctions…and now they are at 1205…looking great!] Now they need to hold it for 90 days, keep them auctions running Keywords.
3-19-2018 Newshound/Intel Guru Mnt Goat Article: “APPROVAL OF THE LAW OF THE IRAQI NATIONAL OIL COMPANY (Oil and Gas Law)” …we have waiting over 10 years for this law. It is now passed in parliament. It now needs to be ratified and in gazette. …Again I told everyone this HCL was needed to get the currency reinstatement. Now we watch and wait for Article 140, which should be coming to us soon. We know that Article 140 and HCL kind of go hand in hand…
3-19-2018 Newshound/Intel Guru BGG Quote: “To our esteemed and distinguished Warka clients, Warka Bank for Investment and Finance is delighted to inform its fine clients that the distinguished Central Bank of Iraq has approved that our clients participate in the upcoming capital increase.” I get it that they’ve changed (ownership / management), they’re all different now and under the direct oversight of the CBI (which might even bother me a little more)…BUT HOLY COW!! These guys are really something…“Here’s a letter authorizing us to withdraw the money from your account”… (because it’s somehow – legally O.K.) …and put it in ours… “sign right here please… press hard – there are three copies” However, the flip side of this is, what if…
3-19-2018 Newshound/Intel Guru BGG They know (or can foresee) something is on the horizon? They bring in all this IQD (for essentially – FREE)… then the IQD value goes up. They just sold millions upon millions of shares of a Bank that is essentially worthless for $1 per share (or more). Sounds like the greatest financial coup in history. Would the value of the IQD going up make the bank more valuable? No, it does not…but if Warka pulls this off they will be sitting on a GIGANTIC PILE OF MONEY. Why else would they sell a share of their (albeit $h!tty) bank for FRACTIONS of a cent? They would be GIVING IT AWAY…Unless, of course, they foresee buying the incoming money at one price and selling it later at another.
3-19-2018 Newshound Guru chattels An average of $ 200 million dollars is about $ 50 million more per auction than the rough average for the past several months which captures alot of dinar from general circulation is a thought that occurs to me.
3-19-2018 Newshound Guru sandyf Under Iraq Investment Law, all shares on the ISX have a nominal value of 1 IQD. Shares of 1 IQD are being sold by Warka for 1 IQD – surprise,surprise. Shares on the Kuwait stock exchange have a nominal value of 200 fils. The real question people should be looking at is why is Warka increasing the capital when it is supposedly going to be worth more than Wells Fargo overnight.
3-19-2018 Newshound Guru Kaperoni …the CBI is selling lots of dollars right now (200 million today) so my guess is they are in compliance and not planning to wait to much longer for Article VIII. They want to end the auctions and stop draining the reserves. Hang in there.
3-18-2018 Intel Guru RayRen98 Iraqi TV was broadcasting the House of Representatives stating that the Ministry of Finance will launch the 2018 Budget in four days…..just inside of the supposed 15-day deadline.
3-18-2018 Newshound/Intel Guru Mnt Goat Article: “ARTICLE 140 OF THE CONSTITUTION IS A VALID AND VALID AND NON-EXPIRED ARTICLE, TO BE IMPLEMENTED SOON” More WOW! news…this does not mean that Article 140 is completed. It means that the interpretation of the constitution on the deadline to issue the referendum to resolve and pass the law is NOT expired and can now be completed…the contention by opposing parties was that the referendum was no longer needed since they felt the stated deadline was passed. So will they now move forward quickly with it? We know the referendum is written and already agreed to by all parties. It just needs to pass parliament to become “official” and the law of the land…we all should have know this too had to be completed in order to see the reinstatement of the currency.