Iraqi Dinar Guru opinions 11-14-2020
Iraqi Dinar Guru opinions 11-14-2020
11-14-2020 Newshound Guru JJimmyJJ Article: “Details of the financial deficit financing law in Iraq” IMO, everything is now done, and they got it [borrowing law] done in time for the GOI and CBI to roll it out before the end of the month (hopefully this weekend(!)…). The important thing, I think, is that it is done and the fab 4 are happy, that there is a sense of urgency sufficiently strong to get them to do something unprecedented, and that now the announcement can be made per their schedule. This is a glorious day!
11-14-2020 Newshound Guru Pimpy the reforms are supposed to take place between 3 to 5 years…it’s great. the economy grows. Their economy grows their currency becomes stronger. As their currency becomes stronger ours [U.S. Dollar] becomes weaker and that means our exchange rate change benefits those who hold Iraqi dinar.
11-14-2020 Newshound Guru Kaperoni Direct from the IMF in 2014…“14. The de facto fixed exchange rate 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. 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.” In other words, create the condition to move from a peg to a float and counter inflation as a result of significant investment by allowing the currency to appreciate countering the inflation created from that investment. This is how you do it. It is not an option, it is how central banks operate.
11-13-2020 Intel Guru Bruce [via WiserNow] … my understanding that Investment Law was passed…which have the actual new Iraqi Dinar rate…the in country rate…so – that is a very positive step forward… I have been called…and I have been put on notice to receive notifications…I do not know exactly when but…the indication was that we should receive notifications quite possibly tomorrow [Friday] or tomorrow late afternoon with the exchanges starting appropriately late tomorrow afternoon or possibly Saturday…we know some people have been paid and are being paid – and that process is moving towards us… I believe that with what’s happened in Iraq…that we have the movement that is pushing us along to where we should see this I am going to say between now and the weekend – and in a very real sense – the weekend starts tomorrow [Friday] – So – let’s see how that goes…
11-13-2020 Intel Guru Delta Article: “Iran begins deleting zeros from its currency and a new banknote” [Delta, Could you clarify what significance this article has on our investment.] TIMING…SOME COUNTRIES WILL DEVALUE SOME WILL RV…IMOO.
11-13-2020 Newshound Guru Pimpy …there’s a lot of speculation…that the rate change is in the 2021 budget. We know that the reform papers or white papers talked about the study of dealing with the rate change but there was nothing set in stone. They’re just talking about it. Are we anticipating a rate change? Yes.
11-13-2020 Newshound Guru JJimmyJJ Article: “Details of the financial deficit financing law in Iraq” What has been the mantra for years? The CBI is in control of the rate! They certainly aren’t going to allow the den of thieves known as the Iraqi parliament to make the announcement! The GOI and the CBI needed this law passed so they had this piece of the plan in place (the IMF and Fab 4 were requiring it to allow them to borrow any more money from outside Iraq). IMO. IMO, this law was the starting pistol, but it is up to the GOI & CBI to start running. Also, it had always been said that the rate change would be seen in the CBI site and forex first, and that it was likely to come out on a weekend when the banks were closed.
11-13-2020 Intel Guru MarkZ [via PDK] The big news is the tweet we saw from Trump congratulating Iraq on being international with a new competitive rate. So, they are very excited on the ground in Iraq that the rate is imminent…I will dig to make certain the tweet isn’t a fake.
11-13-2020 Newshound/Intel Guru Mnt Goat Article: “AN AMERICAN INSTITUTE EXPECTS A FINANCIAL COLLAPSE OF IRAQ IN 2021″ Quote: “Iraq faces a total financial collapse of the state, which is likely to happen during the next year, indicating that the country is finding it difficult to cover its monthly expenses.” this article news is why I keep telling everyone this is Iraq’s last chance to get it right. There will be no other time…