Iraqi Dinar Guru opinions 9-9-17
Iraqi Dinar Guru opinions 9-9-17
9-9-2017 Guest Guru BobTheTaxMan …I understand that Donald Trump is bringing to the table a whole series of tax changes that are coming up and I’m excited for those…but for now we’re going to deal with the tax codes that are in place…the determination of the value of the dinar and when you cash it in, is going to determine which [tax] bracket you fall in to…when you take your dinar to a bank or to any kind of exchange institution at all…understand that becomes a taxable event. That’s the place where the taxes are then applied…So when you create your strategy for when it goes to cashing in your dinar you want to take a look at what bracket you’re going to fall into…
NOTE: This should NOT be considered tax or investment advice. It is purely informational and the views of this guru. Speak to your own tax and investment professional at the appropriate time.
9-9-2017 Intel/Newshound Guru jayray All of these ports, and borders suddenly opening up is a great sign… The dinar receiving a boost in value means that these imports will have an opportunity to be bought.. Because we all know that Iraq does not have much of an export base… Oil, and some natural gas… That is about it…
9-8-2017 Intel Guru RayRen98 There should be an announcement from Iraq about revaluing its currency. That is the expectation, at any rate. Also, some people have been called in to work, with the anticipation that some things should pop out over the weekend. The information should come out over the weekend with action early next week, IF the information I have heard holds true. Iraqi television has told their citizens the value of their currency will increase during September. We are hearing rumors about 10. September, and also between 10-15 September. I do believe the process has begun; there are different phases, but right now the focus is on the announcement coming out on the 10th. That will determine what kind of week we have next week. That information should come out this weekend, and that doesn’t mean everyone will be running to the bank, but you might next week. That is just the release that might or might not happen.
9-8-2017 Newshound Guru Kaperoni 1. The CBI can never revalue for the simple reason there is over 40 trillion dinar in circulation (over 3 times the worlds money supply) which would instantly bankrupt the country, 2. floating the dinar is the replacement for the daily currency auctions in which the CBI profits. If they were to revalue, they would be short changing themselves on the commissions they can make as the dinar appreciates, and 3. nobody would “buy” it up. You cannot buy what does not exist. A float is just like any other country who floats and you can see in those models, nobody is buying up those currencies beyond the international financial environment. The CBI does expect and want it’s currency to traded through the global financial system as well as the markets. Though there has been comments published in the past about a 1 to $1 rate, it was never stated it would occur overnight. In fact, it simply cant.
9-8-2017 Newshound Guru Kaperoni And finally…some claim that Iraq needs to get rid of the dollar in Iraq. That will never happen. Countries like Iraq sell oil for dollar and store dollars as reserves. They will always have dollars. What they need to do is reduce the spread before the Official Rate of the dinar and the Market Rate of the dinar within 2% (about 1200 to $1) to meet compliance. In doing so, this will allow them to accept Article VIII of the IMF, and reduce what is termed..”multiple currency practice” which is a reference to pricing of goods at two different rates within the same country as the result of the countries currency exceeding the allowed spread. It has nothing to do with the dollar. The dollar will always be in Iraq. They hope is that once the dinar is worth more, or has a value that exceeds the dollar, citizens would desire it over the dollar. In doing so, the dollar would of course be less prevalent. But that is not a requirement or condition set forth by the IMF.
9-8-2017 Intel/Newshound Guru jayray [Let’s see what happens on Sept 15th or shortly thereafter.] I agree with this POTENTIAL date of Sept. 15th…I believe the UN puts up the new currency rates on this date for one… Is it not the 1st, and 15th of the month for international currency rate changes being posted via the UN? Also getting close to the Sept. 18th parliamentary elections for Iraq as well… This would serve in Abadi’s, and those who allied with him within parliament, best interests to have this done before the elections…