Iraqi Dinar Guru opinions 8-23-18
Iraqi Dinar Guru opinions 8-23-18
8-23-2018 Newshound/Intel Guru Mnt Goat First let me say the Iraqi dinar is NOT currently on any kind of a FLOAT, managed or otherwise. It is a fixed rate by the Central Bank of Iraq…the definition of a managed float…is when you have millions of investors buying up or selling a currency and driving it up or down. The Iraqi dinar today is not even being traded on the international trading platforms. …Right now, the dinar is on a fixed program rate set by the CBI and the IMF in October of 2013 during the sanctions. They did this to avoid a total crash of the Iraqi economy post war.
8-23-2018 Newshound/Intel Guru Mnt Goat …The Iraqi dinar is still solely pegged to the US dollar and ONLY to the US Dollar. It is a “de facto” peg meaning temporary peg done in a time of crisis/emergency with Iraq in response to the war. In the future the CBI and the IMF have both told us that the plan is to re-peg the dinar to an SDR basket of 5 currencies (US Dollar, Yuan, British Pound, Yen, Euro)…The FACT is the change over to the new basket will be the driving force for the rate increase in the dinar. Again it is NOT a revaluation but a reinstatement about to take place. Then it will be put on a managed float.
8-23-2018 Newshound Guru ChrisC Article: “An economist reveals the bank’s printing of large amounts of currency with small categories to replace them with damage” Think about this real quick. For example, how particularly worthlesss is that 100 denom at the current rate? Why bring these out at the current rate?
It seems there is more to the story as the plot thickens with this and the revealing of the specimen notes. IMHO, I think we’re staring at the end of the Turkmenistan model. I suspect there is a a delicate coordination that needs to be worked out and much communication between several parties to get it on track. Just my 2 cents in consideration of current information…
8-23-2018 Newshound Guru Adam Montana …it’s holiday in Iraq, nothing will happen today through Saturday. Good news, though! Although it’s not “officially official”, there are enough reports out to satisfy me that Elections have been approved, which allows MPs (Members of Parliament) to move onto the next stage, which is appointing a President. Once this is done, and that should not be long, that will free them up to work on various little things like… oh, I don’t know… HCL! …this was a long process, but once Holiday is over I am expecting a bit of change in the lull we’ve been riding through.
8-22-2018 Newshound Guru Don961 Article: “An economist reveals the bank’s printing of large amounts of currency with small categories to replace them with damage” imo…it’s just as the article states…the merchants points out about the severe shortage of smaller denomination notes in the marketplace…the existing notes are damaged and need to be replaced…so the CBI is doing that…they just need to convince the banks to receive and replace them…as these notes do get replaced, people will start using them more and more…and introducing even smaller note categories and coins, with higher value, will not be such a shock after having to use all those high 3 zeroes for so long…Also, even the printing of more of these smaller categories shows a shift in monetary policy…they needed to print the higher 3 zeroes because that is what the currency value required for use in the marketplace…there has obviously been a shift in thinking and circumstances…so smaller, 3 zero-less notes will soon be all the rage…
8-22-2018 Newshound Guru Kaperoni [What if the new gov doesn’t care for the float?] The government does not have anything to do with monetary policy monetary policy is a function of the CBI. And floating the currency is what countries do. Most of the world’s currencies already float. Floating the currency not only gives the CBI a mechanism to raise the exchange rate gradually based on supply and demand but gives them a tool to counter inflationary pressure created by large influxes of capital which we expect to come in as the country rebuilds. Any other solution…such as an RV or RI is utter nonsense and not practical or reasonable…Countries do not do these things.
8-22-2018 Newshound/Intel Guru Mnt Goat UPDATE ON THE ONGOING ELECTION SAGA… Article quote: “A statement issued by Hadi al-Amri, the Fatah alliance, announced on Monday that the announcement of the largest bloc, due to be announced today, was postponed.” So we know the announcements were not made on Monday as planned. So what happened? Seems that three of the Kurdistan parties wanted to pullout of the Sadr Alliance to form the largest block… They wanted guarantees on 5 points in order to join the Sadr Alliance: 1. application of Article 140…but article 140 is not required. Really? …if this is needed to form the govt (as we now see it is…) and to form the govt is needed to RV then Article 140 is needed to get the RV. 2. the legislation of the law of oil and gas…Yes, a form of the oil and gas has been made into a agreement but the final version has NEVER been passed into law by parliament.
8-22-2018 Newshound/Intel Guru Mnt Goat 3. modify the share of the province of the federal budget (wants 17%) …this was reduced down to 13% due to the oil that Kuridstan was selling beyond the GOI budgetary requirements. So they reduced the amount accordingly. …Now Kurdistan wants it back. 4. general census of the population…They have not done census for years and need to update it…they will need to figure out who is who if they are going to award any surplus oil revenues to them. 5. asserting that all these points be “put forward with one basket”. Remember these 5 points we already heard about over a month ago…So this is now being worked out. This is an explanation of the delay.
8-22-2018 Newshound/Intel Guru Mnt Goat …How long will it take. At a minimum they hope to get this all resolved way before Aug 28th when they earlier announced already a plan to hold the first session of the new parliament. So are the election results ratified already? YES, YES and YES again. …Now they still fight for control over the largest block. This is all we are waiting for – what party has control and majority. So we need this first session of parliament to occur and to get these new members sworn in, a new speaker and a new president and his deputies. Then we can safely say that the RV clock can begin ticking once again. According to Iraq’s constitution, parliament’s first session must be held within 15 days from the date of the ratification 8/19 of the general election results.
8-22-2018 Intel Guru Bruce [via Pinkroses] We are really in the best place we have every been for this to go down now. When it comes to the Intel side …the number of sources that are able to speak is being reduced because people are under NDAs that weren’t before or a gag order or just plain were told to go dark or go quiet. …Fortunately we have enough sources in some of the other areas that are coming through so that we are able to sort of see what is happening…and where we are in the process. …We know it is going to be a very good rate coming out and then it is going to go up..
8-22-2018 Intel Guru Bruce It may only take 2 to 3 trading sessions before it going to hit…the kind of numbers Shabi mentioned years ago back in 2012…6 years ago Shabi talked about the value of the Dinar able to sustain $16…I am telling you what I am hearing makes that look very possible. …I know the rate on the Dong is also good, better than we thought it was going to be…I want to clarify once and for all…THERE ARE NO ZEROS COMING OFF ANY CURRENCY… PERIOD AND END OF STORY… I am feeling very confident about where we are right now. …I have been given times. I can’t put them out. …Same with rates.
8-22-2018 Intel Guru Frank26 [via sunny] For security reasons they are now reprinting LD’s…specimens with batch numbers! Huge! Notes will be calculated so not to flood the market. . . This time around. . . told of small notes and metals. . . metals and lower denom’s will co-exist together…2% is alive and happening!