Iraqi Dinar Guru opinions 4-4-18
Iraqi Dinar Guru opinions 4-4-18
4-4-2018 Newshound/Intel Guru Mnt Goat Article: “CENTRAL BANK: WE HAVE SUCCEEDED IN ENDING THE EXCHANGE RATE GAP” …So now we know the IMF was satisfied with the last round of monitoring the MCP. It is here is black and white…”The reform carried out by the Central Bank, based on three axes, 1) the first close the exchange rate gap, 2) carrying out financial inclusion (of all the provinces i.e. Kurdistan )and settling salaries and 3) the third related to the process of technical development within the banking system…So they are telling us all three (3) of these items are completed. …They are saying the banking and financial reforms are completed. …This is part of the creation of the environment conducive to completing the project to delete the zeros…But where is the reinstatement of the currency then?…I believe after reading this article that the reinstatement of the IQD is now nearer that [than ?] we thought. Remember the RV is a by-product of completing the banking and financial reforms not a reform in itself…So now the reforms are all complete…I am excited and so should you…
4-4-2018 Newshound Guru Kaperoni I have been in this investment now close to 10 years spent hours and hours and hours reading factual documents from all over the world from different agencies including the IMF, World Bank, United Nations etc. I do so to publish the truth. I can assure you there is no RV, RI. This is a process of monetary reform that will allow the CBI to transition from a peg two a float allowing the dinar to rise based on supply and demand and investment in Iraq. There is an opportunity to substantially profit from that appreciation but it’ll be gradually over time once they begin the process. We hope that will occur or start this year. Those looking for an overnight wind fall as such in a lottery ticket it simply will not and cannot happen.
4-4-2018 Newshound/Intel Guru BGG Article: “Is it time to delete three zeros from the currency?!” Quotes: “…the current environment suitable for this project because there is financial and political stability witnessed by the country,” “…the project would be implemented after the legislative elections scheduled for next May” …This is current news!! It appears both Saleh and Alak believe the current climate is right, however, one economist mentioned does not. We’ll soon see (as in – between now and a month or two after the elections – according to them).
4-3-2018 Newshound Guru Stryker 2018 Budget Published but not yet Implemented…We are in the window between this morning’s Budget Publication in Gazette and when the Minister of Finance and the Minister of Federal Planning facilitates the implementation of the 2018 Fiscal Budget…
4-3-2018 Intel Guru Frank26 …Tuesday night [Guru] Delta who watches Arabic TV, CBI on the Arabic side and translates articles…said he’d just heard on TV, the CBI announced that they had closed the gap between the market rate in the streets of Iraq against the official exchange rate of Iraq. That’s the 2% compliance. Take the 90 days and flush them down the toilet…nowhere on the IMF web site that talks about that. How did they do it? They used Article 8. The 2% compliance will adjust itself. The definition of Article 8 for Iraq is to lift the restriction on their currency. They are not going to tell you they are Article 8 compliant. That would signal a change. The countries on their borders would be excited. They are now working under Article 8. Article 8 compliant. The acceptance of Article 8 requires them to lift all restrictions on their currency. Abadi promised this at the Kuwait convention.
4-3-2018 Intel Guru Frank26 …Alak met with the media and explained they must introduce this document exactly as they were to receive it from him. They haven’t received it yet. IMO, Alak is now ready to hand over the information he was telling them about privately. IMO, the citizens are about to report to the banks of Iraq to received all of their reinstatement. They are closing in to do this day by day, hour by hour…IMO we are near the point of just waiting for Alak to release the RI. It is now the opinion of ITEAM and all of us that it is just a matter of meeting all Article 8 requirements. On the CBI website that is the last step now. . .
4-3-2018 Newshound/Intel Guru Mnt Goat Some…are telling you that the ONLY way that the three zeros will be eliminated in Iraq is through a gradual rise in the value of the currency. Really? It has NOT been shown conclusively that this RV concept of putting the Program Rate on any kind of float is the process the CBI intends to go. There has been many, many articles telling us they do NOT intend to EVER do this. …“The ONLY way to get to our goal is to see the currency move to a float and then see a gradual removal of the large notes as the value of the currency rises”. Really? Again, I do not agree with this statement. YES, they do plan to get off the de facto peg of the US dollar and then float, but this is the only limited part I agree with. …they will not go to a float unless they also move to the peg of the SDR basket at the same time. They have told us this many times already.
4-3-2018 Intel/Newshound Guru sandyf […can the introduce a new currency and value it differently at the same time?] …The answer is in the question. If it is a new currency it will be a new value and cannot be different. What you really mean is would it be different to the currency it replaced and the simple answer is yes. A new currency is introduced through a redenomination and redenominations work on a ratio basis. Iraq is talking about 1000 to 1(3 zeros), the last redenomination in Zimbabwe was 1 Trillion to 1, and when the UK redenominated it was 2.4 to 1.
4-3-2018 Intel/Newshound Guru sandyf There would be very little point in a 1 to 1 redenomination. The only other answer to what you are implying would be a redenomination followed by a revaluation. Two separate events with a variable time gap, although a possibility, not a scenario people would want to face. …a float…is a contentious issue and always a possibility although not normally considered a good move for an emerging market. If it were to go ahead, appreciation would be limited with very little in the way of returns.