Iraqi Dinar Guru opinions 10-17-19
Iraqi Dinar Guru opinions 10-17-19
10-17-2019 Newshound/Intel Guru Mnt Goat So, where do we stand today on getting this reinstatement of the Iraqi dinar? We know that in order for Iraq to be successful financially and economically at the level they desire, they will soon have to reinstate the dinar to the global currency exchanges and trade their currency openly. The ISX does not trade currencies but getting the ISX hooked into the NASDAQ system certainly is a plus and speaks volumes of where they are heading. There are now plans to go ahead again as the CBI and the Finance Committee has told us many times already this is their plan. Remember the article in early 2019 telling us they plan to complete this currency reform in 2019? But when will they finally move ahead with the next stage, that of the implementation of the project to delete the zeros? We know that the coins and the smaller of the smaller category notes are already staged at the banks and ready for use. How long can the banks tie up this money without using it to benefit the bank’s profit margin?
10-17-2019 Newshound Guru Jeff …there are two things that have to happen for the rate to change. The first one is Iraq must finish the formation of the government…they’ve put that into hyper-speed since the demonstrations …There’s a good chance they could have that done by the end of the year…they just have to get the proxies out and do a cabinet reshuffle…the other thing we are waiting on is the 2020 budget. The reason why? First off lots of monies in this 2020 budget being utilized for the rate change…it will have Article 140 in it. HCL, those are monies that will be given back to the citizens…they could finish the budget around February…
10-17-2019 Intel Guru MarkZ [via PDK] There is a lot of chatter about things happening on the 19th …several people I know say its significant. I have seen a lot of behind the scenes stuff…some I cannot comment on…If I had to make a guess…I think this may be our weekend…you go to bed on a Saturday Night and wake up Sunday to a new Financial world…or something like that. I think we are right on top of it…based on what I am hearing. The biggest news is from Iraq…they are worried about the protests and unrest in the country…They need to release the rv now…they are feeling great pressure to get the RV or RI out the door…I hear they will go with or without the US…I think they will go “with” us and we are that close. [What is the significance of Lower Denominations’s being released?] LD’s is big news guys…they would not be releasing those if they were not changing the value of their currency…This is a huge sign we are close.
10-16-2019 Newshound Guru Kaperoni …the IMF is part of the United Nations. There is an agreement with every member country that they will follow the directives as a member. But Iraq is different as well because in December of 2015 they signed an agreement known as a standby agreement with Iraq to allow the IMF to be trustee over the CBI. If you look up the definition of a trustee you will see that they have control. And as a result, significant progress has been made at the CBI over the last few years in many areas. I’m sure they can make a move without the IMF but Iraq is an emerging market and they want to be part of the UN and they want to be part of the IMF and they want the world to do business with them so it would be probably foolish to make a move of any kind without consulting with the IMF first.
10-16-2019 Newshound Guru Kaperoni When people read these documents and they’re talking about dinar in circulation and they’re referencing billions…That is correct but that is in relationship to dollars. At the current exchange rate the cbi’s liability for in excess of 42 trillion dinar is at or around 40 billion dollars…But if they were to RV at let’s say 1 to 1 then the liability would become $42 trillion dollars…and this is why we say the CBI could never substantially RV because they couldn’t afford $42 trillion dollars. That is why Parliament wants to pass a law to Lop the zeros because the liability of 42 trillion would in fact then become 42 billion…the CBI is responsible for managing monetary policy and keeping its stability …any kind of significant RV would throw the entire monetary policy into chaos.
10-16-2019 Intel/Newshound Guru sandyf […they say there is 42 trillion OUTSIDE of Iraq…] I don’t know [who?] “they” are but I have never seen anyone say that. The only figure that means anything is the liability for currency in the CBI accounts and that currently stands at 48.5 trillion dinar… The accounts for 2005 showed that approximately 6 trillion was required to exchange previous versions into the new dinar and since then the amount has grown significantly each year. How much currency outside Iraq is pure speculation but comparisons to population and business growth have put estimates at around 25 – 40%.
10-16-2019 Intel Guru MarkZ The new rate is not published today in the Gazette…they are still expecting the new rate at any time plus releasing the LD’s this week. [Is the dong still in the first basket?] I hear that the VND dong will absolutely still be in the first basket. [Does Chinese trade deal need to be done first?… before we get the 800 numbers?] I do not think so…I believe everything is done and signed that needs to be done and signed.
10-16-2019 Intel Gurus Walkingstick & Frank26 …IMO they have a date and they have a time to deliver the lower denoms. Yesterday they delivered a receipt. The only ting missing yesterday was the pictures and the descriptions of the lower denoms…I can’t prove it to you…Does anyone want to bet me that they will see them [lower denoms] in the next week or so?