Iraqi Dinar Guru opinions 10-8-18
Iraqi Dinar Guru opinions 10-8-18
10-8-2018 Newshound/Intel Guru Mnt Goat Article: “BAGHDAD – The Central Bank of Iraq announced on Saturday the launch of large quantities of currency for small groups this week.” Quotes: “put large quantities of small groups to meet the need for daily transactions and the quality of the material has been improved”. “…a small change will be made in the NEW FORM THAT WILL BE PUT FORWARD FOR TRADING NEXT WEEK, knowing that the deal will be in the form of new and old together without discrimination.” The CBI told us that they had a new format or “form” for the smaller categories that they were going to launch next week (this week). …we are told that the new edition of the notes will “coincide” just as we were told already many times before.
10-8-2018 Newshound/Intel Guru Mnt Goat So why is the CBI putting out so many of the smaller categories like the 250, 500 and 1,000 notes? This is because more people are now able to use these notes for daily transactions for petty cash thus they are getting citizens used to thinking in terms of smaller denominated notes. But we know at some point they must also raise the value of these notes. But when is exactly this optimum time? We know that in all of the targeted reinstatement timeframes (…CBI timeframes…) that they intended to go always in the month of December – January. …Then we also find out that the CBI…began the replacement of 25000 and 10000 notes that are now in circulation. This move is not a contradiction of the process to delete the zeros since they are replacing these 3 zero notes as they also told us once again and I quote – “WITHOUT ANY INTENTION TO WITHDRAW FROM CIRCULATION”. So again they told us these 3 zero notes will coincide with the smaller category notes.
10-8-2018 Newshound/Intel Guru Mnt Goat Why…did the CBI issue these new version format of the 1000 dinar? …they said in other recent past articles, that the 1000 dinar note was being counterfeited already since they know the value is going to shortly seriously go up and this is going to be the largest of the smaller category notes widely within the public circulation. …So what timeframe do you thin the CBI might now be thinking of to reinstate the dinar? …I can say this with much confidence that the CBI may very well target again the December into January timeframe for the reinstatement of the Iraqi dinar based on past history of target dates. So, if this new government is formed and no major events happen that cause alarm or instability we may be in a good window at that time.
10-8-2018 Newshound Guru Kaperoni CBI gets ready to introduce replacement currency 250, 500, 1000 dinars. This new currency only makes sense if they expect them to be in circulation for a while. No overnight event! The dinar will only rise gradually via a float. That is how monetary policy works. Raising the value of the Iraqi dinar is part of a much bigger process…integrating Iraq’s financial system into the worlds banking system. That process includes the CBI accepting Article VIII of the IMF charter and moving to a new exchange rate regime. The reason the CBI must move away from it’s current exchange rate regime (peg) is to counter inflationary pressure created when large amounts of capital and investment comes into Iraq. The new exchange rate regime will be a float allowing the CBI to counter this pressure by gradually raising the value. The good news is as I have said before is that I expect that process to start very soon.
10-7-2018 Newshound Guru Bloodloch …Until they release new classes of VLD (Very Low Denomination) currencies, in the range of 1 dinar to 100 dinar notes, the working theory I’ve been hinting about is on hold. This does not mean they won’t do as much soon, but I must admit I was hoping to see something along the lines of VLD with these new predicted currency releases. Still, the fact that they have yet to breach this VLD range means the potential for such an issue remains viable. When it does finally happen, and if must if they plan to ever have the IQD achieve equality with the USD, it will be a surprise event. It’s just not the sort of thing they would telegraph ahead of time.
10-7-2018 Newshound Guru chattels [Is it me, or is the Iraq government moving a lot more quickly than they have in the past?] November will be six months since the election which is about the time it has taken for other governments. Some parts of the process have taken longer and some have moved more quickly. The invitation / creation of the Prime Minister Designate was much quicker…
10-7-2018 Newshound Guru Kaperoni This process has been completely documented through the IMF. And monetary policy is never a random act.
10-7-2018 Newshound Guru MilitiaMan Article: “Central Bank raises large amounts of currency for small groups” Possibly, by definition they have said they introduced currencies to rival the dollar… Introducing lower notes with an international rate and or less the 3 zeros could or would fit the definition of rival in comparison to the USD imo. The CBI also told us they were to make a simple change in respect to trading next week.. Quote: “The Central Bank raises large amounts of currency for small groups.” In other words, they lifted enough large notes now so they can bring in the smaller groups.
10-7-2018 Newshound Guru MilitiaMan They appear to to say two things in the way the are telling us this. Firstly they are putting up of raising large amounts of currency for that they can introduce large quantities for small groups. They clearly are doing what they said they were going to do by taking out the large and introducing the smalls.. imo. Then, they tell us now they are going to have a simple change with a new format next week. I don’t know about you all, but, this sure sets the stage for big things to happen and in short order, as next week is within hours not days..