Iraqi Dinar Guru opinions 2-12-20
Iraqi Dinar Guru opinions 2-12-20
2-12-2020 Newshound/Intel Guru Mnt Goat …If you have been following the news from Iraq you should clearly see that they are “fast-tracking” the new government and also getting the 2020 budget amended and passed on to parliament. Why is all this occurring so fast? For one it is the pressure from the protestors. Second it is the threat of going back in to UN sanctions chapter VII. Already UN security forces are in Iraq…But this is all very good for us..
2-12-2020 Intel Guru MarkZ [via PDK] I spoke to my contacts in Iraq and no new rate published in the gazette yet. There are great expectations for today…. I am always terrified of “Great Expectations” but someday it will be true. That may well be today. Actually I was surprised not to see a new value this morning with how keyed up my diplomatic contacts are in Iraq. I am getting fantastic stuff from most sources…Exceptionally good, positive stuff. I hear exchanges will start at the same time everywhere.
2-12-2020 Newshound Guru Kaperoni [The CBI has stated on several occasions that the deleting of zeros is two fold. Three zeros off the exchange rate and three zeros off the notes. 25000 note becomes a 25 note worth the same amount. No change in value.] If they delete the zeros it is a LOP. Parliament would have to approve. Luckily, they have postponed all such attempts so far. Hopeful for float and gradual appreciation. Remember also the IMF is also recommended that the CBI get off the peg and allow the currency to gradually appreciate. Go market economy!
2-11-2020 Intel Guru Footforward I’d be stunned if we are sitting here this time next year waiting for the RV to happen. There is incredible progress being made on the Iran front.
2-11-2020 Newshound Guru Kaperoni If the CBI decides go to a new exchange rate regime and gets off the peg and begins to gradually appreciate the dinar via a float, any change in denominations would occur at a similar pace to the appreciation. No announcement or schedule is needed.
2-11-2020 Newshound/Intel Guru Mnt Goat …Just where do we stand with this RV? I have to tell you the CBI is more than ready to go full force with the process of “deletion of the zeros”. They are just waiting for the new prime minister to get his cabinet in order and ratified in parliament…once the prime minister designate has “REAL” power (which comes when he forms his government and is ratified by parliament) he will begin the process of the reforms. He has already promised by a public statement that he would complete “ALL” the reforms demanded by the protesters. We know that one of them is to end the currency auctions and this one is a very high priority…we could not be in a better position to see the RV sometime within the next couple months. But I bet sooner than later…lol…NO! – we do not need to wait years for a robust economy, as many gurus tell you…
2-11-2020 Intel Guru Frank26 …IMO Dr. Shabibi is very aware of what is happening and what’s about to happen and because of what may happen he is in constant consultation with the Fab 4…the Fab 4…the IMF, World Bank, U.S. Treasury, and the President of the United States of America…
2-11-2020 Newshound Guru Kaperoni [via Zig] … “Anybody who researches this investment will know the IMF is the trustee of the CBI. They took control in 2015. Therefore, and it is already been proven that the CBI does with the IMF tells them to do. So one only has to go read the Article IV consultation from a few years ago when Shabibi was preparing to transition. It is plan [plain ?] as day… 14. The de facto fixed exchange rate (that means peg) has served Iraq well. The authorities agreed that a stable nominal exchange rate provides a valuable anchor for inflation expectations in an uncertain environment, and intend to continue implementing this policy for the foreseeable future. In the medium term, staff encouraged the authorities to consider creating the conditions which would make possible a move to a more flexible exchange rate policy (they are talking about a float). Such flexibility could allow a predictable and gradual appreciation of the nominal exchange rate, triggered by strong oil revenues and the Balassa-Samuelson effect, to accommodate a possible real exchange rate appreciation while keeping domestic inflation low…It does not get any clearer than this direct from the IMF. Not only is this the plan but this conforms to monetary policy…”
2-11-2020 Intel Guru MarkZ [via PDK] My Bank staff at Redemption Centers are all on call..They are expecting to work this weekend. Iraq contacts believe we will see it anywhere from this evening to Friday afternoon. They are ecstatic in Iraq. Bankers here still swear this is it. I am afraid to call it with all the hype but dayummmm…this I feel is it. So I am at the edge of my seat…feeling nervous like when the prom date is about to ring the bell….lol
2-11-2020 Newshound Guru Kaperoni People need to realize that even though the protests demanded change it substantially slowed progress. The new PM needs to be confirmed, a cabinet needs to be named and confirmed and parliament needs to get back passing legislation. Months of delays are expected….