Iraqi Dinar Guru opinions 3-31-18
Iraqi Dinar Guru opinions 3-31-18
3-31-2018 Newshound Guru Walkingstick […will the article(s) announce the entire process or will there be several that piece together the whole situation like: ATMs, International MasterCard, Lower Denoms etc. One could say the launch already started with the MasterCard release?] In brief, yes… in a succinct manner, with enough understanding/ information to eliminate any confusion… Coupled, with the launch … there, will be.. many more to follow .. as the process dictates, more information will be released…
3-31-2018 Newshound Guru Walkingstick Adding to that, details… specifics of the process.. is and has been in motion… revealed, to the Iraqis themselves …then, we will ever know/read of… That info will be released within the article/s when released.. Stated, many times… the process, its means ..can be launched in a number of different manners… The notes, their denomination… in question, would be launched for a number of pertinent reason/s… not arbitrarily, or haphazardly.. it, will be… for reason/s.
3-31-2018 Newshound Guru Kaperoni We’ve talked about this for years and used factual information to support what the plan really is including actual words from the CBI. The deletion of zeros is not a single event it’s a process in which they gradually raise the value which could take several years once they started. In fact one of the latest instructions from the CBI stated that they will continue to accept the old currency for up to 10 years. The CBI also stated but the Iraqi dinar will join the world currency markets which is Forex. The IMF also instructed the CBI to move to a more liberal exchange regime (float) to allow the dinar to appreciate based on the Balassa-Samuelson effect. These are actual facts…and studying and learning how monetary policies work is critical to understanding what the dinar will do. The physical note account cannot be reduced until they begin to float the currency in which then they can collect notes as they are deposited and destroy them. This is part of the reason why the process could take 10 years because it’s going to be gradual over time. Not to mention the CBI has stated over and over again as recent as a week ago that there’s 60 trillion Iraqi dinar outside the banking system in homes (in mattresses under beds etc.)
3-30-2018 Newshound Guru chattels I have speculated for some time that the 2018 elections in Iraq may be a watershed event for monetary reform in Iraq. Will the outcome of the elections contribute to the “suitable environment” contemplated by Allaq’s recent statements regarding the “three zeroes”? The formulation of a government post election historically is a protracted process. It may be several months following the election before Iraq has a duly constituted government if prior history is a reliable indicator. As with all things in Iraq, we wait, watch, wonder and wish. Godspeed the completion of the Iraqi Banking Sector Reform Project…
3-30-2018 Newshound Guru mike I tend to agree with the security issue Enorrste brings up, without it, it’s going to be tough. [reference Guru Enorrste post 3-20-2018] I would also add that there’s on huge thing we need in order for the dinar to rise in value. An open market economy where Iraqi exports are desirable. That will create demand for the dinar and through the Balassa-Samuelson effect begin to increase the value of the dinar. We have to begin seeing the political will of Iraq’s leaders remove the socialist, centralized chains that restrict Iraq’s economy, all they have to do is empower private enterprise and get out of the way. Every stimulus package, including the 6 trillion dinar handout the CBI tried, has failed miserably. Pass the economic laws, move the currency to Article VIII and secure the country, then the dinar will rise in value parallel to their exports. IMO.
3-30-2018 Newshound Guru Breitling I don’t even think they need to reduce the note count anymore. I think they are done doing that…because the last report was they reduced it to 4 billion notes and I think that was a 2 year pace it took them to get there…that was 2 and a half, 3 years ago when the report came out. So they’re there. On that end they don’t need to do anything…there is no hold up position. It’s simply the market value, what it is they can do to make their currency and economy efficient so they can compete.
3-30-2018 Intel/Newshound Guru sandyf The real danger in a redenomination is the ability to exchange. Once the redenomination has taken place it would normal for the old currency to only be exchanged in country. In a redenomination a new currency would be created which would become the international code. The old currency retains its code and as such would not be recognised by international banks…dinarland’s worst nightmare. [Maybe dealers would still exchange it for big profits…] That is a distinct possibility, they did it with the 50 dinar notes.
3-30-2018 Intel Guru RayRen98 Iraqi newspaper issues a special issue of the Law of the General Budget…the President of the Republic sent the budget law to the Ministry of Justice for publication in the Official Gazette. Once the budget is published, it has become valid and ratified. The draft Public Budget Law for 2018 will be published in the Iraqi official newspaper on Sunday and will be in force. Scrolling On Iraqi TV screens at the bottom: Special Edition of the Budget Law is being processed for Gazette publication.
3-30-2018 Newshound Guru chattels The notion of dropping the three zeroes has always made the most sense to me as a redenomination. Any other interpretation seems strained to me. My hope is that redenomination may be accompanied by added value of some sort.