Iraqi Dinar Guru opinions 12-5-18
Iraqi Dinar Guru opinions 12-5-18
12-5-2018 Intel Guru Bruce We are getting down to the very end. …Iraq on Sunday morning…took their rate and made it tradable…and in 8 seconds after it was on the Forex available to be traded, it was traded up. It has been traded up ever since and it continues to go there. Even yesterday it went over from $6 to $6.50, and I do not know where it is now. I am just saying that it is moving in the right direction. I will say this as well. The Vietnamese dong at this point is within 6% to 8% of the Iraqi dinar. It should stay there within 6% to 8% because they are trying to level the playing field with the dinar, the dong, and I do not know how many other currencies are going to be that close on par, but I do know those two are relatively close. You can forget all that .47 cents for the dong…because it is going to be much higher than that.
12-5-2018 Intel Guru Bruce Sunday morning at 4 am Baghdad time which was 8 pm EST Saturday night that was the shot that was heard around the world. That was the term it was called. It is supposed to have been a 3 day turn before we get a pretty close heads up we are about ready to go. That would put us somewhere between now and tomorrow morning [Wednesday]. I am just going to say this is not definitive exactly what the timing is. However, it is a good indicator things are moving right along. We know Iraq is supposed to put everything tomorrow into the Gazette. I believe it will include a rate. …Then I think we are very close.
12-5-2018 Intel Guru Footforward To be clear, it’s my opinion the rate will be well above 86 cents…
12-5-2018 Newshound/Intel Guru Mnt Goat I agree with Kap [Guru Kaperoni] in that the CBI has told us this is a 3 year process. So we are now at the end of this process. In fact if we get out of this year we have passed it. But remember the CBI just can’t trigger the event in a day and expect to transition the currency over that same day. It takes time and there are mechanisms to put in place over months if not years. One such mechanism was “electronic banking”. Another we can clearly see was the ATMs. In March-Oct we witnessed yet another the effort to get the people over to using the lower category notes. But this third mechanism only works because these other two mechanisms were already in place. If you are studying this process to delete the zeros you can clearly see the progression of what the CBI is doing to get them to the reinstatement timeframe.
12-4-2018 Newshound Guru Kaperoni …the 2% rule has nothing to do with the choice of float…the 2% rule has to do with stability within Iraq and keeping the dinar exchange rate consistant within the country…the 2% rule is meant to eliminate MCPs within the country…not related at all to the nominal exchange rate of the currency…unfortuately many people do not understand the terminology used by the IMF and others related to monetary policy…an example is MCPs or Multiple Currency Practice…MCP does not mean two currencies or dinar and dollar as some like to say. It means the price of an Item in one part of the country vs the price of the same item in another part.
12-4-2018 Guest Guru Doc.K [Guru ChrisC…Why does everyone think decimal places equals fils? Using fils at this rate would be ludicrous. If we don’t see that decimal point move to the left, I don’t get what we are dancing about.] In order to have parity or an exchange rate with a major currency, they need to change to the same 2 place decimal system to convert. i.e. The USD does not have $1.259 it is only $1.25 or $1.26. This forces them to use a fraction of a dinar ( a fil = the metals) in the market place and INTERNATIONALLY. They are not dealing with WHOLE #s anymore as in $1 usd = 1200 dinars.
12-4-2018 Newshound/Intel Guru David M. Witty Iraqi Parliament delays vote on unfilled cabinet positions. Iraqi Parliament meeting to approve unfilled cabinet positions ends in chaos & shouting among political blocs.
12-4-2018 Newshound Guru Kaperoni [And The reason why the IMF is still preventing Iraq to become ARTICLE VIII?] They are in compliance now but have not had their 2018 Article IV Consultation yet because the government has not been officially formed. Though not a requirement, I do expect this consultation to occur before any move to Article VIII.