Iraqi Dinar Guru opinions 11-10-19
Iraqi Dinar Guru opinions 11-10-19
11-10-2019 Update – Guru Kaperoni’s report has now been confirmed by the official rates reported by Central Bank of Iraq. It appears the market rate and the official rate for the Iraqi dinar are now out of compliance with the IMF “2% rule”. This rule requires the market rate to remain within 2% of the official rate for 90 days before the dinar can be considered for Article VIII. Kaperoni and other gurus believe Article VIII brings international banking acceptance. The last report has the two rates are ~2.3% apart. It’s unclear if the IMF rules require a daily “within 2% spread compliance” or if it’s based on a weekly or monthly average. The dinar has been in compliance for over a year in a half. Stay tuned as the gurus chime in on the significance of this dinar development.
11-10-2019 Newshound Guru Kaperoni [via Zig] [Kap,Can the CBI decide to float the currency without them being in Article 8 first?…] Yes. They can change exchange rate regimes anytime they want… But I don’t expect them to get off the peg until they have significant capital coming in to invest… As for Article VIII if the IMF is going to be a stickler they could make them start over and wait 90 days once in compliance again… Because that is clearly in writing in the IMF charter that once you meet the 2% rule you have to hold it for 90 days… So if the spread is now what they say it is and the CBI reports it as such it appears we’re in for a wait.
11-9-2019 Newshound Guru Vital Brad …we hold Iraq’s currency. We want to see Iraq doing well. We want it. We don’t want to see protests. We don’t want to see violence. We want to see them standing on their own two feet. And they’re working through that. Change is happening. As their country improves and times goes on their currency is going to be an included world currency…
11-9-2019 Newshound/Intel Guru Mnt Goat …they know exactly what must get done but the corruption is so high in the government they can not ever execute on it at the level they need to make any real progress…So, my point is – they need to kick off the currency reform, get rid of the currency auctions and openly trade their currency on the global markets. They know it and we know it. So why has it not yet been done? It is way overdue! I don’t want to sound like a broken record but there are billions of $$$ being make off of NOT doing the currency reform.
11-9-2019 Newshound/Intel Guru Mnt Goat …They also need to convert the economy so that the banks could make revenue by other banking practices and ween off the currency auctions as their sole source of revenue… I will not get into the necessity to get rid of Iranian influence. …So, here we sit and wait and wait. Will these demonstrations pan out for us investors? Will this finally be the breaking point of these corrupt officials to give up the currency? …We can pray that this is the final straw that will break the camels back.
11-9-2019 Newshound Guru MilitiaMan Article: “The government agrees to open a consulate in the US state of 100,000 Iraqis” Quote: “The US State Department on Thursday approved the opening of a consulate-general in Texas to provide consular services to more than 100,000 Iraqis.” Interesting there were many things associated to Iraq out of Texas, since I have been in this.. Currency comes to mind too. hmm.. I wonder if reforms to come will have much to do with this coming about?
11-9-2019 Intel Guru Frank26 ….seven times I think Allaq has come out in the last twenty-three days to talk to the citizens about the reinstatement of the Iraqi dinar and about lifting the zeros from their exchange rate, about the smaller notes…