Iraqi Dinar Guru opinions 1-31-15
Iraqi Dinar Guru opinions 1-31-15
1-31-2015 Newshound Guru My Ladies TODAY RAFIDIAN BANK GAVE OUT MASTER CARDS INSIDE OF AND OUTSIDE OF IRAQ. THIS TAKES US SO MUCH CLOSER TO INTERNATIONAL. THIS IS A PILOT PROGRAM AND A BIG STEP WHEN THEY ACTIVATE THE PROGRAM. THIS IS DESIGNED TO BE ABLE TO TAKE CASH FROM ANY MASTER CARD ATM TERMINAL, THIS NEWS IS MAJOR. SO NOW WE ARE WAITING FOR PRESIDENT MASOUD TO SIGN THE BUDGET AND THEN OFF TO THE GAZETTE IT GOES. THIS SHOULD BE DONE AT SOME POINT TODAY. THERE IS QUICK MOVEMENTS TAKING PLACE AND WE SHOULD SEE THE END SOONER THAN LATER. THINGS ARE GETTING EXCITING…THE ANTICIPATION IS BUILDING AND VERY SOON REALITY WILL SETTLE IN BRINGING THE MAGNITUDE OF WHAT IS ABOUT TO HAPPEN TO OUR LIVES.
1-31-2015 Intel Guru Frank26 Article: “Rafidain Bank announces the issuance of card “MasterCard” to its customers inside and outside Iraq” There is no PROFIT for MC to do TRANSACTIONS at 1166. This is not illogical …This is posturing. This is simply …Good.
1-31-2015 Newshound Guru Enorrste It is my firm belief that the CBI is being forced to move ahead with the float specifically because the lower oil prices have essentially “hamstrung” them. Quote: “monetary policy is constrained in tackling the current shock.” It is clear to me that the CBI is moving forward faster than ever now because it believes that it HAS to do so because of the financial crisis from lower oil revenues. The only solution is to open market operations so that foreign investment can come in and reduce the “shock” referred to in this article. The float will allow the investment to flow in quickly. From the CBI point of view, the faster the better. I still believe…that we will see this roll out within the next 30 to 60 days. [Guru Kaperoni] also agreed, with the caveat that the laws still need to get passed. He is correct. And, IMO, they will.
1-31-2015 Intel Guru TD Comments from my Kurdish friend (as always treat as rumor and due your own sound diligence). …yes the budget has passed and NO it doesn’t spell out any imminent change in iraq’s immediate plans of major monetary reform. As also expected by everyone in Iraq the budget will be running at about a 25 trillion dinar deficit and that seems to be a conservative estimates. So why would anyone think it’s time to implement currency rate hikes? Where’s the money to pay for that? I’m told that Abadi is s meticulous (engineering background) type of manager. There are plans and steps in place for agenda items. They already announced months ago their goals of executing economic and monetary reforms drafted for the next 4 years. Part of that includes RD of their notes (dropping the 3 zeros, yes, LOP to start either end of 2015 or sometime in 2016. Then to conclude exchanging and retiring the old 3 zero notes within 2 years after that. All this is to resemble the Turkish model of monetary reform which the Turks successfully executed back in 2004-2005. This is their plan and they are hopeful to stick to it.
1-31-2015 RUMOR Guru Article: “Rafidain Bank issued card [MasterCard] to customers both inside and outside Iraq” THIS IS BIGGER THAN GIGANTIC NEWS. [Santa is on his way!!!!] YES!!
1-31-2015 RUMOR Guru [do you think eight cents is correct for the dong?] …why would they say this much lower rate now? We got this information a few days ago, and it didn’t make sense to us…and I still don’t know that it’s true. Iraq has voted on the budget, everything else is done and it will all be announced at that same time…we figure the rate is $3.90 or so, and we have word it could be a bit higher or lower than that. We told you two weeks ago that the window goes through the end of the month, and that is tomorrow [Saturday]. They anticipate it by Monday. This could happen at any moment.
1-31-2015 RUMOR Guru In Iraq they passed the budget and made it public…the official date in the Gazette is tomorrow [Saturday]. There is more on Iraqi television about the economic reforms. The pressure is very high on Abadi and his team to get this revalued. Even with falling oil prices, Shabibi has successfully pushed for a higher rate…while PM Abadi just wants to get this out and raise the rate later. In the US, all checks have been done and we are waiting on Iraq…
1-31-2015 TOTAL RUMOR Guru [So your best guess now for the rates for dong, dinar and zim… do you think eight cents is correct for the dong?] I understand how Shabibi thinks, and I think the rate has gone to $3.90 or maybe a bit more…The contract rate is still very possible for us, and the pool ranges from $9-28 in terms of what is available to us. The dong – frankly, I don’t know. Some believe that Vietnam can only support that rate. I don’t have a lot of good contacts for that. My contacts are in the UST and banks, and although I’ve heard the rumor of eight cents, I am prepared for .47 on up. The $1-2 rate would be the contract rates. For the zim, I’m expecting them to lop six zeros, then maybe up to $0.16, maybe. To summarize, everyone is in place, just where they need to be…the times are held by just a few people, keeping people on super-high alert. I’m really excited.
1-30-2015 Newshound Guru Bondlady so next the budget goes into the gazette and if no one contests it for I think 15 days then it’ll open…lets go over some of the things Iraq still needs to do now that the budget has been passed…the economic laws are most important as they need to protect and support the reform we are witnessing. [do you think we will see the investment law?] yes, they are working on the amendments to it now. …and with the auctions being low that could be very telling as to what the CBI is doing, dedollarizing and capping the daily auctions at $75 million…we never saw that before ever… that would be the beginning of monetary change to me…the CBI reserves are the best in the world and they could cover the dinar 1 and a half.
1-30-2015 Newshound Guru Bondlady …I just don’t know if they could pull off and support a reinstatement of the old rate 15 years ago. [I think imo it has to be around kuwaits…] they have to be able to sustain whatever the rate is… I can’t see how they could sustain an RI at this point. [do you think they can handle a 1.00 rate?] I feel they could…or come really close to it if in fact they are trying to dedollarize like I’m assuming they are trying to do with the capping of the auctions at 75 million per auction and paying everything in dinars. Abadi is definitely on the right track for everything we wanna see…
1-30-2015 RUMOR Guru TerryK GETTING THINGS READY TO EXCHANGE… BE SURE EVERYTHING IS IN LINE. THERE IS A MEETING TO OCCUR TOMORROW AFTERNOON IN IRAQ. THEY WILL BE TALKING ABOUT THE ONE THING…THAT IS A THORN IN THE SIDE OF THE PEOPLE VS STATE… IT WILL BE RESOLVED TOMORROW AFTERNOON AND WE MAY SEE OUR BLESSING LATE SATURDAY OR SUNDAY THIS WEEK.
1-30-2015 Newshound Guru My Ladies YESTERDAY WAS EXCITING WASN’T IT? THE TOTAL BUDGET IS 119 TRILLION AND CHANGE. NOW SO MANY OF YOU WANT TO KNOW WHAT HAPPENS NEXT? MY BEST GUESS IS WE SHOULD SEE THEM TRADING VERY SOON. I THINK SUNDAY/ MONDAY, THEY ARE POSTING INTO THE GAZETTE ON SATURDAY AND WE KNOW THEY ARE RETROACTIVE TO JAN 1. NOW AS TO THE RATE I WOULD ASSUME THEY SHOULD COME TO A REALITY RATE AT THE SAME TIME…BUT LETS GET THROUGH THE WEEKEND FOR STARTERS AND SEE HOW THEY START BUSINESS ON SUNDAY. LET’S SEE IF THE DINAR IS TRADING AT ANY RATE FIRST. IF WE SEE THEM TRADE AND THEY ARE THEY ARE FULFILLING THEIR INTERNATIONAL OBLIGATIONS THEN I WOULD IMAGINE THEY WOULD PRICE THE DINAR ON A COMPETITIVE SCALE.
1-30-2015 Newshound Guru Enorrste There is no law passed forcing the CBI to do anything. There is only the “suggestion” of making a law. In addition, the Parliament does not have the authority to force the CBI in this matter. It simply can’t tell the CBI what to do. The CBI only has so many tools to adequately defend the value of the dinar, and open market operations (the auction) is one of the most important of them, especially at this stage of development in Iraq. Selling or buying bonds is in its infancy in Iraq. Due to their low inflation rate changing interest rates is also not a viable option. This leaves the CBI with what it is doing now, namely the auctions, to maintain the value of the dinar. Furthermore…the CBI went on record last week that it is actually their intent to INCREASE the open market operations, rather than to limit them.
1-30-2015 RUMOR Guru Mnt Goat …we are only one (1) day from the end of a span of time…I was told would be the best possible time for us to witness the revaluation of the Iraq dinar…this window is not yet over. So the final vote did happened yesterday, as scheduled. All the news from yesterday is very exciting news and was history in the making. Remember this is the very first budget EVER completed and through the legal, formal parliamentary voting process since post war for Iraqi’s new government. Over all we can see that we are soo very close to this RV / RI. I believe they will take this weekend to push the needed rate files once again down to the exchanges and banks as needed for a revaluation rollout. If not this weekend very shortly. I am told it will be a reinstatement (RI) of their currency followed by a revaluation (RV) 4-7 days later. I believe…we are now in the final countdown window now that the budget is truly done…
1-30-2015 Newshound Guru Millionday [what about customs and tariffs? that’s already done, right?] YES IT IS DONE — THEY HAVE BEEN DISCUSSING THE APPLICATION AND HOW IT IS GOING TO BE APPLIED ETC — THEY HAVE ALSO CLOSED THE BORDERS OF IRAN AND TURKEY FOR ITS APPLICATION.
1-30-2015 Intel Guru Frank26 The next step is to lift the 000s from the exchange rate of the IQD. Technically it is already done in the math of the budget and protected by the budgets verbiage. LAWS are set…GOI is now a GOICBI…ISX set…Ceiling at CBI is set…Not loans but BONDS and MONEY INVESTED in the GOICBI in order to start the Budget and Economy… Insane Reserves and a plethora of many more article 8 compliance are stacked in favor of an IR/ RV. Then the MATHEMATICS will equal …It will create a balance …An EQUILIBRIUM in their calculations.