Iraqi Dinar Guru opinions 6-4-18
Iraqi Dinar Guru opinions 6-4-18
6-4-2018 Newshound Guru ChrisC Everybody should remember this…1) Iraq is the geographic center of the ME, they are the richest in assets in the ME and they are constantly saying they are going to be the tiger of the ME. Another thing I always thought was telling is our largest embassy in the world is in Iraq. A country like this is not going to use somebody else’s currency five minutes longer than they have to. 2) No more ISIS 3) corruption is on the way out. That really is one of the main reasons IMO that they have kept using the dollar and now they are going to start stringing them up if they stay in Iraq. In the final analysis the evidence, not my opinion, shows that this should be much sooner than later.
6-4-2018 Newshound/Intel Guru Mnt Goat Many asked me address the change in the CBI currency rate from 1184 to 1190. I have been telling you that currently the IMF is monitoring the MCP (Multiple Currency Practices) within Iraq. The MCP is the difference between the CBI rate and the Market (street) rate. The CBI rate is a de facto peg to the US dollar and the street rate is the rate venders or banks can sell the dinar in exchange for dollars or visa versa. The monitoring program requires that the difference in these rates not vary more than + or – 2 %. Being able to control the rate of the currency is a requirement to show stability. So the CBI has to recently adjust the CBI rate since the street rate also dropped. This keeps the dinar within this required range for 90 days. We know that in mid March there was a violation of the 2% rule and so the IMF started the MCP 90 monitoring all over again.
6-4-2018 Newshound/Intel Guru Mnt Goat The CBI simply did not want this to happen again and expects to complete the monitoring on time on mid-June. This is also yet another indicator as to why I am telling you do not expect anything movement in the reinstatement of the dinar until at least past mid June, and even then, we have to wait to see what happens as we get closer. This mess with the election fraud may be resolved by some backroom deals or it may come to re-counting and maybe even a re-voting process. We just have wait and see. We have at least 10 days starting… [6-1-18] to let the Electoral Commission work with the Judiciary in sorting through the complains and deciding the next step.
6-4-2018 Newshound Guru Kaperoni [via chattels] Though the spread is consistant and we are getting close to the 3 month compliance, I do think the IMF needs to have it’s Article IV Consulation with Iraq and the formation of a new government before we will see change. The Article IV is a good time for the IMF to review the CBI and go over monetary policy, etc. before the CBI writes the letter accepting Article VIII. The new government needs to be in place to encourage investment. We are getting closer for sure.
6-3-2018 Newshound Guru chattels The exchange rate of the dinar against the US dollar in local trades on Sunday (June 3, 2018), the following ranking:
Baghdad – Bourse struggle:
119.775 = 100 dollars
6-3-2018 Newshound/Intel Guru Mnt Goat So why did the CBI decide to hold it up the project to delete the zeros until after the elections, even though they told us it was all ready and prepared? The CBI along with the IMF wanted to first play out the polical process of the elections and to make sure that these corrupt officials are eliminated from office and the amendments to the election law are passed in Parliament once and for all. Iraq needs these laws to keep these crooks out of politics… They needed to close down these FAKE BANKS throughout Iraq and prosecute the guilty. Just too much currency MANIPULATION and FRAUD.
6-3-2018 Newshound/Intel Guru Mnt Goat YES, it’s all about eliminating the currency manipulation, fraud and the corrupt banking. YES, these new elections laws also are very drastic and hurt those that need to vote on them the most. So they need a New Parliament to get them passed. They need to weed out all of this corruption. YES, The CBI need to ensure the success of the currency reform also by not letting this election chaos, that was sure to come, interfere with potential investors in Iraq. So if they did RV prior to the elections this would put this chaos during the time period when they need to draw in potential investors the most to the new Iraq dinar. …It is a simple factor of the much needed, political STABILITY to make the launching of the new dinar successful. The needed stability is not just for a couple days or weeks but for years to come, especially just after the launch..