“As the Dinar Turns”…same RV channel, same RV time…3-12-13
“As the Dinar Turns”…same RV channel, same RV time…3-12-13
3-11-2013 ****** I’m hearing great things for today. i did get word that there is enough $ in the coffers to cover the rv which what I’m hearing is to happen maybe today. the rates i was quoted yesterday afternoon were upper 5. Dinar and .39 on the dong.
3-11-2013 Mountainman Article: “Financial expert: Iraqi dinar needs economic stability to make it a desirable currency internationally.” This article reiterates what we’ve been saying for years. Stability, stability, stability. That doesn’t mean they all go to their happy place, it means economic/political stability in the eyes of the global community that will give Iraq the international support to make the IQD desirable, dedollarize and eventually use as their primary currency once they add value per IMF/CBI instruction and approval (when they feel the time is right).
3-11-2013 Poppy3 I JUST GOT A CALL SAYING MALIKI HAS BEEN DEALT WITH DURING THIS MEETING THAT HAS TAKEN PLACE TODAY AT NAJAFI’S HOME AND THAT HE HAS BEEN ISSUED A ULTIMATUM IN WRITING TO SIGN ALL DOCUMENTS HE HAS BEEN SERVED ON ALL HIS PREVIOUS AGREEMENTS, ERBIL. 140, HCL, BORDERS AND TO COMPLETE HIS APPOINTMENTS, LIFT THE OUTSTANDING WARRANTS ON OFFICIALS AND PERFORM ALL DUTIES BY TUESDAY OR HE WILL BE REMOVE FROM OFFICE PERIOD. THIS IS FROM A SOURCE I KNOW BUT I DON’T KNOW HIS SOURCE BUT I KNOW HE IS IN DC AND HAS IN THE PASSED HAD SOME VERY GOOD INFORMATION. HE LIKE ME IS TAKING THE NEWS WITH A GRAIN OF SALT AND HOPING LIKE US IT IS ALL TRUE. STATED THERE IS ANOTHER MEETING AT NAJAFI’S HOME TOMORROW TO PREPARE FOR TUESDAY PARLIAMENT MEETING…TIME WILL TELL. STRANGE THEY ALSO TODAY STARTED TALKING ABOUT NEW LEADERSHIP OF THE CBI ANOTHER THING I SAID HAD TO BE DONE BEFORE THE IMF WILL ALLOW THE RV??? TIME WILL TELL AND TIME IS ON OUR SIDE.
3-11-2013 Doc The fundamentals have not been completely put in place to support the RV long term. We continue to believe the HCl is one of the key remaining items. We know its not completed because the Kurds are still making noise about breaking off from Iraq. If the HCl was done to their satisfaction they would not be still threatening. In fact they are making noise about having the budget redone also. This is why as we’ve been reporting that the RV is not and was not in the budget. [post 1 of 2….stay tuned]
3-11-2013 BOBGETZ6 I am beginning to think the budget is not key. I think they can rv without it. The budget is just a number which can be altered…numbers and conversion can be changed @ any time. How easy would it be to change a rate on a spreadsheet.
3-11-2013 ****** jack lew is running the show trying to get us the rv signed off…let me say this…how many want to go to the bank tomorrow. things are in motion right now. we may see the announcement tonight or in the morning. this is from my number 2 source, number 1 source is not talking right now, china source backs this one up.
3-11-2013 Tlar the budget just got done. Its done and a majority of the MP’s voted on it. The budget sets up the HCL as another major piece of legislation that is now readily in sight. The amount of revenue to be shared by Kurdistan and the provinces is structured within the budget and Kurdistan is now assured to receive its 17%. Article 140 still has some sticking points but as a result of the budget, it to has been minimized too and is now achievable. This budget was a milestone. Although it does answer to every parties needs, it does solve what were many of the outstanding issues between the blocks. [post 1 of 3….stay tuned]
3-11-2013 Shredd The possibility for the dinar to be traded exists but for it to be recognized by institutional investors is bigger than that. Today, the activity in this space on any dinar-denominated debt is silent. Why? Well, imo, for one, Iraq is not a member of the WTO. Also, the dinar being managed is a huge part of it. For these reasons, investors are largely (but not entirely) staying away from these trades. [That being said…what do we look for?] imo, an exchange regime that is fair…a market driven rate and wto membership.
3-11-2013 Doc The good news things are progressing. Yes we know at a snails pace. However, we continue to see pressure from the international community, from within the GOI and from the citizens themselves to speed things up. Maliki appears to be feeling the pressure but he has shown signs before only to weasel his way out. Do we think this will work its way out – absolutely. We simple see it taking time to neutralize Mailiki and for the final pieces to be put into place. We report, you decide
3-11-2013 Tlar All of these I consider as positive signs that it is possible we will finally see that elusive RV this year. We know that May 22 is an important date. We have seen Maliki make some conciliatory moves to all the blocks. We know the bank is on the verge getting hooked up with the world. Lastly we see Maliki wanting to quickly get investment in the country as he is finally pushing for a stronger dinar and the removal of obstacles that have stood in the way of investors. If Iraq can finally get their act together, and I believe they can, I’m holding to July 1st change in the currency because it will be the first available slot that begins a new quarterly accounting period that fits with where Iraq is at present. I’m holding to that date as a possibility. Please don’t hold me to that date. If it takes longer to resolve the outstanding issues then it might still be October 1st or January 1st. But I honestly think sooner than later. Iraq is very close on all fronts including Chapter VII. It is mind boggling to me how just one major piece of legislation can open so many doors.
3-11-2013 ****** [ I am hearing that we should be in the banks tomorrow. I am waiting for a final update and xxx is going to call me later. I will let you know as soon as I know. Everyone has been told tonight and to be ready so everyone in our group is ready. TYSVM !! This is exciting tonight. Just 15 currencies is what I was told will be first but of course the IQD will be first. No question.] THAT WAS JUST SENT TO ME
3-12-2013 ****** THIS IS A GO AT ANY MOMENT…IS WHAT I HAVE BEEN ADVISED…TAKE IT AS RUMOR. KEEP IN MIND ONE OF THE SWEET THINGS I HAVE GOING IS I HAVE A SOURCE IN CBI AND THEY WILL CALL ME.
3-12-2013 Poppy3 Seems Iraq leadership are being quiet about what they are doing behind the scene’s. The articles from Najafi, Barzani, SDAR and the demonstrators are all together about the removal of Maliki. It also apeers and I was told that Parliment will continue to make moves forward and will force Maliki’s hand on actions and they are not going to to stop progress because of his actions. TIME WILL TELL but I like their new attitude. POPPY3
3-12-2013 Blaino We are seeing some additional indications late this afternoon from the bank where we get a lot of foreign currency information. There remains a distinct possibility that something…May break loose…Sooner rather than later, MEBBY.