Iraqi Dinar Guru opinions 3-27-2021

Iraqi Dinar Guru opinions 3-27-2021

3-27-2021 Guest Intel Guru Coyote Iraq doesn’t follow GAAP…They follow IFRS….GAAP is General Accepted Accounting Standards. It is not a report but volumes of standards and regulations that Is only used in the US. There are over 100 other countries, Iraq being one of those countries that use IFRS which stands for International Financial Reporting Standards. In Iraq, banks cannot use both…Banks must use IFRS as mandated by the CBI…I used to be a financial auditor for the #1 construction company in the world based on ENR who operates both domestically and international. I am now retired…Are IFRS Standards incorporated into law…? Yes for banks Under the Iraq Banking Law (2004)… No for other companies.

3-27-2021 Intel Guru MarkZ [via PDK] […the government said they are not going to change the rate for at least four years what do you think about that?] I’m not worried…they lowered salaries in Iraq…something is happening…and keep in mind that when China revalued the yuan…3 days before…they came out with a big ad saying it was going to be years before they revalued…same when Kuwait revalued…..don’t let it shake you. They do not want us to know the exact timing…could it still be Saturday? Absolutely!! Could it be right now? Any moment could be the “go” . They have cried “wolf” so many times…everything is fair game in my opinion.

3-27-2021 Newshound Guru Pimpy Parliament…they want this rate change restored and they’re willing to make life hell for getting the budget passed. Here’s what happens – the parliament can’t control the rate change. That’s the CBI. What parliament could do is refuse to pass the budget unless the rate change is in there. That is possible. Will they get what they want? We’re going to see. We got to pay attention. Let’s see how influential they are…looks like there’s going to be some issues between the government and the CBI versus parliament…we’ve got a standoff…

3-26-2021 Newshound Guru Jeff The budget – because of what’s in it Article 140, HCL oil and gas law those items make the budget married to the rate change. When you see Iraq kicking the budget can down the road they’re simply tell you at this time they’re not ready to change the rate…there’s a big event they’re working on right now…they need more time. They’ve got some things to work out in the back end…

3-26-2021 Intel Guru Frank26 Question [IYO if I have 6 million Iraqi dinar can I exchange 2 million at 1 to 1 rate and then exchange the rest when the rate goes up? Or do I have to exchange all of it at the same time?] It’s your prerogative. It’s your choice to exchange however amount you want at whatever time you want. Obviously, in the beginning whatever rate they give you is a “sucker rate”. 1 to 1 everybody you can think of is going to go in. I’m going to go in. But the key is how much do you want to exchange? …I’m going to cash out just as much as what I need to get by and I’m going to hold onto the rest…get yourself a financial advisor…

3-26-2021 Newshound Guru Breitling Question: [If Iraq does nothing to increase the dinar in this year’s budget do we have to wait another year?] No and it has nothing to do with their budget. This is where people have problems. They think they have to put something in the budget somewhere otherwise the value is never going to come out…No…The budget is what they owe and based on what they can pay back they don’t need that to add value to their currency. Let’s say they come up with the budget and the next day it revalues and that completely changes the budget – No it doesn’t. It changes the decimal. That’s all it changes. They just move the decimal over…They don’t need the budget to come out in order for them to add value to their currency.

3-26-2021 Newshound Guru Jeff Article: “Parliamentary Finance resolves the controversy: There is no request to reduce the exchange rate” This article is telling you they want to keep the rate exactly where it’s at at the request of the central bank. It’s also suggested they have no intentions of bringing a 12-month budget forward.

3-26-2021 Intel Guru MarkZ [via PDK] Still a lot of chatter from Iraq…they do not have a 1 to 1 rate yet…we will find out if they move forward this weekend…the budget vote was scheduled for 1 pm their time tomorrow…We need to manage our expectations…but it appears we are here …I am excited but don’t want us all to get to high and then crash again…manage our expectations.

3-26-2021 Newshound Guru Pimpy What happens if they do change it to the $3.22 rate? What do you mean what happens? There’s a whole lot of us would be high-fiving, doing the pee-pee dance. Think about what bills we want to pay. This would be some life-changing stuff…A lot of money would be dumped into cryptocurrencies, gold and silver. That’s what would happen. I’d rather error on the side of caution. I’m thinking they’re going to move from 1450 for every dollar back to where it was 1190. Could I be wrong? Yeah. Maybe I’m wrong. Maybe it could be the $3.22. I would not jump this shark that far. Just stay grounded…

3-26-2021 Newshound Guru Jeff This year you will not see a 12-month annual budget drafted or brought forward from Iraq. Because Iraq is not doing a budget they will not be changing the rate at this current fiscal period we’re at now – around April 1st. There’s not going to be any rate changes because of what they’re working on right now… 1460 that’s where it’s going to stay.

3-26-2021 Intel Guru Frank26 Question: [How many months will we have to exchange our dinar before our dinar is null and void?] The amount of time will be determined by the CBI. Once phase 1 starts at 1 to 1 in country then the citizens of Iraq will be told you have this much time to turn in the 3-zero notes…we don’t know how long yet. But they will tell you how long. IMO whatever they establish in-country will reflect out-country…

3-26-2021 Intel Guru MarkZ [via PDK] [Can you quickly explain how the RV will affect Vietnam, Iraq etc. If whole population exchanges they would all be rich? Who works then?] in the local markets they will see an increase in value. Their standard of living is lower then ours because their currency is depressed. Also the values there will be a lower level then what you and I will exchange at. Then it will come up to a “street level”…they will definitely get relief and will be able to afford better things.

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