8-23-2012: Iraqi Dinar Guru guesses!!
8-23-2012 Newshound Guru SWFloridaGuy …Iraq has options and I do believe a drastic change in the monetary system is required for Iraq to accomplish what we believe they will. It’s far more complex than I had hoped it would be that’s for sure. I do think Iraq presents a unique situation though and has come along at a very opportune time as we see the global monetary system struggling. …all we can do is hope that whatever solution they choose, it benefits the country of Iraq and anyone holding their currency.
8-23-2012 Intel Guru TerryK Couple things going on out there – Iraq is shipping things over to Iran – commodities and money. USA may cut off economic funding to Iraq because of this – if this happens could slow things down quite a bit. Got a call from one of my sources, stated there is a certain currency showing up on their screen, 4.65 or 4.85. Waiting for him to call me back.
8-23-2012 Intel Guru Hammerman alot think the rv is happening now…woooooooo phone blowing up…im not calling anything just hearing wonderful stuff .
8-23-2012 Intel Guru BOBGETZ6 [ I read …and saw a screen shot of the CBI @ .27 which equals 3.61.] That should be the Iraqi in country rate via the CBI. We should do much better, IMO. I am thinking $5 plus. I am wondering about the VND. I am hearing 32-42 cents.
8-23-2012 Newshound Guru SWFloridaGuy I do believe Iraq will revalue their currency and I think there are many ways they can achieve this. For painfully obvious reasons, the CBI will never announce to the world that they are about to revalue their currency. Shabibi himself alluded to this in Washington when he said “Even if I knew I could never tell you.” Whether there are several incremental adjustments or a historical large currency appreciation of 100,000% to get us to 1 to 1, I do think Iraq will accomplish returning their currency to its previous levels by increasing the value of the paper currency in a quantitative sense.
8-22-2012 Intel Guru Bluwolf Within a specific short time we will be receiving this blessing and…we now await the final calling on behave of the banks.
8-22-2012 Intel Guru Tony The article that came out of Iraq yesterday said, “The CBI can agree with the Economic Committee of the Iraq Parliament to introduce the new bank notes in September 2012, which will be used in parallel with the current bank notes for a year. The CBI will completely withdraw the old bank notes by September 2013…There is an initial agreement between Parliament and the CBI to start the process of removing three zeros in September and it will take a year to complete…The CBI will introduce three new bank notes – 50 dinars, 100 dinars, and 200 dinars. The CBI will also issue 1 dinar and 2 dinar coins which Iraq currently does not use. ” This just came out in the last 24 hours. [Post 2 of 2]
8-22-2012 Newshound Guru SWFloridaGuy Just to clarify, the CBI did not say revalue, they said remove the zeros. There seems to be much confusion on what “remove the zeros” actually means. Some researchers like to add their own interpretation and say it refers to a revaluation and the entire process of drawing in the large notes. Deleting the zeros simply means deleting the zeros, pretty straight forward. This simply refers to the CBI’s plan to drop the zeros from the nominal value and introduce the lower denoms to ease cash transactions. I’m simply making this point because I see the CBI misquoted quite frequently and I used to struggle with this understanding myself. [Post 2 of 3…stay tuned!!]
8-22-2012 Intel Guru Tony They were given target dates to have certain things accomplished and those dates are not November, December or January. They are trying to get this done a whole lot sooner. We have known ever since June that the problem was where the money is flowing to. So all of that has to be stopped or at least managed before this can happen. Talabani has been back in Iraq since last Thursday, They have already had meetings and signed off on agreements…some announcements that are supposed to be made later this week. Everything I am looking at is that it is sooner rather than later. [Post 1 of 2…stay tuned!!]
8-22-2012 Intel Guru Gary We have been told that all the banks have been expecting this, they are pulling their people in, keeping them from going on vacation, people coming in preparing for scheduled appointments, etc. Are the banks being lied to? No, I believe that they are being told by the higher ups that everything is ready to go but Iraq is still dealing with things over there (e.g., ministers, Maliki, smaller denominations beginning next month). But we’ve got one scenario that has created a critical issue and that is their neighbor [Iran]. They have to wait until that is all taken care of. There are sanctions going to be issued over there and the impact of those sanctions are going to be pretty serious and so even though everybody was expecting this to be completed here pretty quickly we are kind of in a holding pattern. The UN is also getting involved. This is going to take a little longer than a couple days.
8-22-2012 Newshound Guru Mike great article…talked 3 times about the re-evaluation of their currency…in this article they talked about the the re-evaluation process of their currency and they declared that they are going to do this – drop the zeroes and get it done by 2013…Nothing but positive news from CBI.
8-22-2012 Newshound/Intel Guru BGG Article: “Deputy for the National Alliance: Maliki is ready to give assurances to implement paper reforms expression of sincerity of the government’s intentions” This isn’t a guarantee of any kind – and it even sounds a little like they are in “spin mode” – but it’s still great to hear…if Talibani gets back this week and has a couple of good meetings, calls for a National Conference and it succeeds – we’re in good shape. I have heard that as early as Sunday “could be the day” – however, be very careful with that. I personally think that might be a little early – even under a “quickened” time frame.
8-22-2012 Newshound Guru SWFloridaGuy I am very encouraged by some recent reports out of Iraq regarding the easing of political tensions, the focus on implementing the reform proposal and holding a successful National Meeting. Does this mean we will RV tomorrow at a rate of $42? Of course not; it doesn’t relate directly to the exchange rate at all. Indirectly however, we do see a connection. The CBI did say that they will proceed with the National Economic once the GOI resolves this political crisis and if the reports out of Iraq are true, they have made much progress in this area. [Post 1 of 3…stay tuned!!]
8-22-2012 Newshound Guru Adam Montana Ramadan is over, business is resuming, and honestly…things are ramping up at a fast pace…no RV announcement at this time, but nothing negative either. I am going to be getting confirmation on a few things here today.