Iraqi Dinar Guru opinions 2-14-20
Iraqi Dinar Guru opinions 2-14-20
2-14-2020 Intel Guru RayRen98 …Sources are now indicating that PM Designate Allawi has completed the formation of his government. It is anticipated that Allawi will be “officially” accepted on Sunday and that he will request that Parliament hold an emergency session that same day to vote on his government selectees. The Parliamentary Bloc of the Alliance of Saireon confirmed, on Thursday, that the House of Representatives during its second legislative term fulfilled all the demands of the demonstrators, indicating that many of the reform laws advocated by the demonstration arenas were accomplished within the House of Representatives.
2-14-2020 Newshound Guru Kaperoni …they [Iraq] have to meet Article VIII compliance and they request the IMF accept them into Article VIII and more importantly, the IMF has to accept them. They have met some conditions yes…last I read, still one condition was outstanding but in any event, it does not mean they will move to Article VIII once in compliance because the IMF needs to agree. And I do not see that happening until Iraq gets back on track: new gov, cabinet, pass laws, stable, investors…lots to do. They need to create the conditions and right now, they are far from the right conditions. Until they get there act together and launch the private sector, there is no increase in the dinar…which could be months or years…up to them…I am hopeful though.
2-13-2020 Newshound/Intel Guru Mnt Goat So what we know right now is the CBI wants to continue with the project to delete the zeros but had to put it on hold since the beginning of the protestors. They told us they intended to complete it by year end. This verified once again that December and January are significant months for the CBI to complete this project. Many keep asking me if the project will still work outside of this Dec – Jan timeframe. Yes it will but this is not the “optimum” time the CBI and the Finance Committee would like to do it…This week my CBI contact told me they had 2 important meetings and they were all about the project to delete the zeros. I am telling everyone that this project is VERY, VERY important for the 5 year plan of which was supposed to end in 2020. This project was (or still is) supposed to kick off the investment frenzy for Iraq by this time. So, we have now entered 2020 without it. So what? It is only mid-February and still they have not yet paid anything out this year. This is good and we can see are intentionally holding off. But this can only last so long.
2-13-2020 Newshound/Intel Guru Mnt Goat …the designate PM is desperately attempting to get his government formally completed and ratified by parliament. He wants to get it right this year. Next he is going to try to ram-rod the 2020 budget with some changes to parliament and get is passed. Why is this so important for the RV? We know that the 2020 budget includes the reinstatement as there has been many scenarios played out by consultants hired the CBI to determine different “what if” scenarios for different rates. So we wait and watch for 2 things now: 1) getting the new prime minister ratified and his govt formed and 2) getting this damned budget to parliament and hopefully passed in record time.
2-13-2020 Intel Guru MarkZ [via PDK] [I hear the dong may only rv at .3 to .4 cents:] That would still be a good ROI but I do not believe that. I keep hearing that .47 is the street rate. And it will float higher… If it was to reinstate to where it was years ago before we devalued them…it would be in the $2.20s or $2.30s.
2-13-2020 Intel Guru Delta …the Currency Issue Expenses [Of the CBI]. They spent about 46 million dollars in just one month to print the currency…this is huge and gives you an indication they are printing and if my math is correct they have now printed 170 to 180 million dollars worth of currency in a matter of like a year and a half…
2-13-2020 Intel/Newshound Guru sandyf [“If there is to be any return on this venture it will not be the result of anything done by Iraq.”…Then by whom?…if not the CBI…] There is a basic accounting principle that dinarland prefers to ignore, the liabilities must be less than the assets or the entity is technically bankrupt. Currency issued is a liability on the CBI and the CBI has no control over the value of it’s assets, the bulk of the assets are foreign currency denominated and effectively fixed in value. There is limited equity in the accounts so no scope to increase the value of the dinar by any significant amount. Any change to how the value of the assets could be calculated would have to be by international agreement and nothing to do with the CBI.
2-13-2020 Intel Guru MarkZ [via PDK] From my contacts in the US…they say we havn’t seen it yet because there is still a protocol in place saying Trump needs to be out of the country . He does happen to leave for Geneva tonight or tomorrow. I am hopeful we are going to see it. I am hearing Iraq has everything put together for an expected vote this weekend to move rv forward. We know in their budget they are settling all past debts with Kuwait. We know this budget should have been approved in Jan and requires a much larger rate. We know they are in desperate need of this budget passing. And we know they are saying they will pass it in the next few days…we are clearly almost at the finish line.