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9-21-2017 Intel/Newshound Guru payray I believe it will come out at a higher rate simply because of the bills that have to be paid... Iraqi's will not be happy with a lower rate... When I say higher rate I am talking about a rate that will be more that just 1 to 1.... 1.30 dollars to 1 dinar ect for example... This is how they are going to get the higher notes off of the streets... Something they have been writing about as of late quite frequently... The Iraqi people will not be very happy with a .05 cent to 1 dinar rate in any way shape, or form... They have been waiting patiently for far too long... Especially when you have Jordan at 1.40 dollars to 1, and of course Kuwait at 3 plus dollars to 1 dinar... [post 1 of 2....stay tuned]
9-21-2017 Newshound Guru Enorrste Article: "Private Banks Association organizes a workshop on safety requirements for financial systems conversion" Quote: "This workshop comes at a very important time is determinedly Iraqi banks open up to the regional and international banks and boost confidence between them to reflect positively on the banking sector." It seems to me that this movement that we are seeing on several different fronts at this time is being driven quietly from the IMF in the background. They stated last year that it was their intention to bring Iraq into the world market in the first half of 2017. They did not make that goal, obviously, but we continue to see progress (at the Iraqi rate, unfortunately) toward that goal. This symposium/training is clearly geared, as KAP [Guru Kaperoni] has rightly stated, to something that is "on the horizon" rather than down the road a way. I would not be surprised to see Iraq move into Article 8 late this year and start the float either at that time or at the beginning of next year. Saleh seemed to indicate some time ago that changes like these must take place at the beginning of a year. [reference Guru Kaperoni post 9-21-2017]
9-21-2017 Newshound Guru Kaperoni Article: "Private Banks Association organizes a workshop on safety requirements for financial systems conversion" Quote: "This workshop comes at a very important time is determinedly Iraqi banks open up to the regional and international banks and boost confidence between them to reflect positively on the banking sector." I have said this before, you don't train people for a task they will be doing a year from now. This to me clearly implies they expect to engage with the worlds banking system within a few months or less. We can hope.
9-21-2017 Intel Guru Frank26 Article: "Kuwait to help Iraq fulfill UNSC commitments" Quote: "Kuwait said Wednesday it would cooperate with Iraq to fulfill commitments towards Kuwait as listed in UN Security Council resolutions..." Today we have KW [Kuwait] backing A [Abadi ?] and Iraq ...Nice (big smile).
9-21-2017 Newshound Guru MilitiaMan I am glad to see that Iraq is openly speaking about full liberation of their country if I read that right today. They have made immense progress under the leadership of Abadi. They deserve a leader like him to bring peace, unity and reconciliation. They now deserve to have what that brings too. A fully convertible currency that is not restricted and is back to her former glory! Let's see if that holds true, they are the ones who said that it will be... Today is the 21st of the month. We have read where that is the day business owners submit if you will the data for the remittance's to be paid on the 28th of the month. I wonder if that holds true today?
9-21-2017 Intel Guru RayRen98 [Did they say $3.71 at the national rate for Iraq?] You will see 3.71 is the international rate, so far as I am being told. However, that is the sell rate, not the buy rate. That is the rate the bank will SELL the dinar to you, and the BUY rate is what the bank will offer to you in exchange for your dinar. The $3.71 will be the rate you see on the screen, and the bank will tell you what rate they will buy your dinar at – they will be upfront with that. There are always two rates for any currency. Those are the rates we were told two years ago...
9-21-2017 Newshound Guru Adam Montana ...after the initial 3-6 months, resume normal auctions and let the market determine the future rate. This is the "Float" period, where the market can easily drive up the value to $1 and beyond. That initial 3-6 months allows the CBI to directly manipulate the currency supply, possibly introduce an entirely new printed currency, and control their expenditures while simultaneously profiting from the exchanges. [post 2 of 2]
9-21-2017 Newshound Guru Adam Montana [...assuming the CBI elects to "Float" the Dinar from it's current value and removing zero's maybe one at a time...do you see this process taking up to a year...to have a value close to 1 to 1 with the us dollar? ...how long from the time they start the "Float" until (you believe) they start removing the large denomination bills (those bills larger than 100 IQD).] yes, the float process could certainly take up to a year, maybe more or less. I believe we'll be looking at a hybrid situation between peg/float - a likely scenario is this: First, revalue to around 10 cents per USD. (It is almost certain to remain pegged to the USD at this time, regardless of how they revalue.) That rate could be "fixed" for a period of 3 months, up to 6 months, while the larger denominations are collected and removed. This is the "Pegged" period. Next... [post 1 of 2....stay tuned]
9-21-2017 Intel/Newshound Guru payray [Big Screen TV erected , “The screen will be for the purpose of announcing the results of the upcoming elections and placed at the entrance of the House of Representatives..." Other articles had said that Abadi will be in NEW YORK to give a speech to the UN on Thursday the 21. ] The local elections were cancelled...unto further notice... They were supposed to be on the 16th of Sept... They informed the public via the media on the 17th... I wonder who showed up only to find out no voting... It would not surprise me if there is a smoke screen of sorts going on here... Abadi is playing the rope a dope as to whether or not he is going to New York, or sticking around in his native country... Interesting time, and this has the potential of being a very eventful week for the Iraqi people, as well as us dinar investors... I am a bit stoked about it frankly...
9-21-2017 Newshound Guru chattels Kurdistan and the world need to be prepared for any eventuality. The only thing I am reasonably sure of is that there will be a referendum and the Kurds will vote for independence. What follows is unknown. Iraq is unpredictable. Period.
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9-20-2017 Intel Guru RayRen98 Thursday is a holiday, and banks are closed on Friday anyway, but Sunday the banks are open in Iraq, and that is the day they expect to receive their pay, and they expect it at the new rate – and that is probably what Abadi will announce on Thursday, with the rate being released on Sunday the 24th. The Kurds have already put out the message that their citizens will be paid on Thursday under the new rate... There’s also a possibility that from late tonight the ATMs will start dispensing the new lower denominations. We shall see. We also have screen rates being reported to us from various sources: dinar @ $3.71, and dong @ 47 cents. That’s nothing new, but it is coming from more sources, and that says something. We are expecting a lot in the next few days. I think it is time for the chips to start falling. [post 2 of 2]
9-20-2017 Intel Guru RayRen98 ...the information coming from the CBI and the Iraqi television continues to tell the citizens over there that their currency will gain in value in the month of September. In addition to that, the television is urging people to do their banking, and what to do when the lower denominations come into play. The campaign is letting them know something is happening... All eyes are now on Thursday, when Abadi is making a speech to the UN. Info has already come out that he will be making a presentation on ‘internationalism’...it will be broadcast in all the provinces at 6.30 Iraqi time. [post 1 of 2....stay tuned]
9-20-2017 Newshound Guru Adam Montana Other tidbits - the current OPEC agreement contains a limit on production, which Iraq is essentially exempt from. Yet Iraq and the rest of the members of OPEC seem to be glossing over that small fact...in fact, the Iraqi Oil Minister just this week said they are in agreement to extend that contract, speaking as if Iraq was actually taking part in it. I laughed out loud when I read that! They are playing their cards well. There are representatives from Baghdad visiting Erbil, I believe tomorrow (Thursday). I’m very interested to see what this brings, and I’m crossing my fingers that we see some HCL news. That is what this all comes down to, after all. HCL = RV = $$$ for Iraqis (Kurds are included in that group!) and this whole referendum gets set aside for a couple years. Maybe they will pick it back up in the future, and maybe they will actually secede and become their own country...but at that point, I’m not sure if I’ll even care, because the RV will be done and we will all have moved on.
9-20-2017 Newshound Guru Adam Montana The HCL has been dragging on for too long at this point. ISIS was a factor. That’s done. After Saddam was removed, they had a lot of cleaning up to do. Iraq is looking pretty darn tidy! Yes, they have issues...so does Turkey, Kuwait, the United States and every other country with a higher valued currency. The Turkish Lira is 30 cents to the dollar. One USD will only get you a third of a Kuwaiti Dinar. It has not been so long since the Iraqi Dinar was also within that range, or higher, and you can bet that they remember and know that fact much more than any of us. [post 1 of 2....stay tuned]
9-20-2017 Intel Guru Bruce When it comes to the rates, I just going to say the rates have been traded. We know there is some movement up again. I think we all are going to be very pleased. I am hearing some really very positive things about things that should be going down...tomorrow thru Friday. I am not trying to call it. This is not calling it. I am just telling you the timing is right. Everything is ready. Speeches are meaningful. They mean something especially Abadi speech. Then following Abadi on Thursday morning EST, I believe the new head of CBI is going to give speech also from the CBI in Iraq. I believe that speech will be carried on throughout Iraq as well. I think that is when they will get information about their currency rate so on. That is only my opinion what might happen. [post 2 of 2]
9-20-2017 Intel Guru Bruce Iraq has erected 7 huge screen monitors, something you see at a huge football arena to give you replays... sent by China to Iraq in 7 different provinces in Iraq. For what purpose? Why would they be there in 7 provinces in Iraq? They are there so the Iraqis can see firsthand Abadi making the speech in the UN on Thursday morning, New York time. That is big, and so big that Iraq is calling Thursday, September 22, sort of a holiday. What else? What would be announced? You can only guess how deep will it go? They were supposed to be paid at the new rates all over the country. I am talking about salary pensions, profit sharing, everything you can think of at the new rate on Thursday, but because of this holiday they pushed all of that to Sunday... All of those new payments will go out at the new rate on Sunday. [post 1 of 2....stay tuned]
9-20-2017 Newshound Guru Adam Montana The distinction between the Kurdish Regional Government and actual Iraqi government is a big deal. The Kurds actually signed and helped write at least the portion of the Iraqi constitution that makes such a referendum illegal. This simply clarifies that the Kurds are not an autonomous people - they are technically (politically speaking) Iraqis. That means Baghdad trumps Erbil. The United States, Turkey, and other countries have voiced disapproval of the separation, but here is the end-of-the-road... ...I don’t think a separation will happen.... Let’s look back at the last 2, 3, 5, heck...TEN years...how long have we been hearing about the Kurds threatening to secede? It’s always been a topic, but only recently it is in the news daily. Why would that be, one might ask...the answer is simple. We are on the cusp of some major happenings. [post 2 of 2]
9-20-2017 Newshound Guru Adam Montana It’s been a while getting here, and nobody knows where exactly “here” is quite yet, but what I DO know is we have a LOT going on right now! There is an upcoming referendum in just a few days where the KRG (Kurdistan Regional Government) is attempting to “vote” on “Independence”. While the “vote” isn’t something I’m personally putting a lot of weight on, the statements and actions surrounding and connected to it are certainly worth paying attention to. Abadi had previously spoken out against the referendum (scheduled for Sept 25th), but now the Supreme Court (Iraq) has actually issued a ruling ordering them to completely suspend any preparations for such a vote, based on it being “unconstitutional”. [post 1 of 2....stay tuned]
9-20-2017 Intel/Newshound Guru payray The Media Office the PM- Twitter... "Dr. Haider Abadi: Oil for all Iraqis, land for all Iraqis, and wealth for all Iraqis." If that does not get the Iraqi citizens just a little excited!... All I can say is that I hope they deliver simply because there seems to be a buildup of sorts... A huge party on Thursday evening, putting up giant screens at the parliament building, the CBI governor sponsoring this huge event along with bank representatives, and last but not least, all of this talk of increasing the dinar's value during this last year... The CBI governor is even going to be at this gathering during this World Peace gathering... Why I ask?... Not trying to give anyone false hope, but if we are not just a little excited about this coming week... Being a little enlivened is not such a bad thing is it?...
9-20-2017 Newshound Guru chattels Article: "Abadi renews his rejection of the referendum and calls for adherence to the unity of iraq" My sense is that this crisis over the referendum will prove to be largely rhetorical. I believe that Abadi would have preferred to not have commented so strongly against the KUrds, but there are pressures on him from the National Alliance in Baghdad to do something.
9-20-2017 Newshound/Intel Guru Mnt Goat Article: "The CBI confirmed the possibility of expanding electronic payment activities" Quote: "The Central Bank called on mobile phone companies to adopt the new regulations issued by them to work in accordance with the developments of the work of the retail payment system" More expansion of electronic payment systems. This time payment through cell phones. ...this is all good. No need to issue paper notes anymore back into circulation. This is all good as part of the project to delete the zeros.
9-19-2017 *** Dinar Guru News Update *** Early this morning we received the sad news that longtime Guru SteveI lost his battle with cancer and passed away. He was steadfast in his convictions but long time dinar followers will remember SteveI as instrumental in expanding the reach of dinar information. He will be greatly missed by the community. Our thoughts and prayers go out to his friends, family and loved ones.
(The latest guru updates will continue below...)
9-15-2015 Intel Guru RayRen98 It’s my understanding banks are on high alert for next week’s activity, gearing up and getting ready. Iraqi television is still looping their information about lower denominations and electronic banking, so that gives us a lot to look forward to next week. I am looking for things to pop out information-wise through the course of this weekend. All roads are pointing towards a good probability for next week – it’s not guaranteed, but the information suggests a good probability. [post 2 of 2]
9-15-2017 Intel Guru RayRen98 Iraq told the people that it would revalue the currency in September, and Abadi announced that ‘economic reforms are complete’. We don’t know exactly what the means, so we’ll just have to wait and see how that applies to us. ...it’s status quo apart from waiting for the bank screens to be reset. That happened, and new screens populated but no one would say what the rates were. Then the rates surfaced...Now, the rates are on the screens for (select) people to see, and now it’s being reported that the rates are LIVE rates, and it is anticipated that we should be able to do something with these live rates. [post 1 of 2....stay tuned]
9-15-2017 Intel/Newshound Guru payray Article: "Three quarters of the money out of the banks. Central and calls for investing." So many articles coming out about the need to somehow get the hoarders to let go of their dinar's, and invest this week... This is a great sign simply because it indicates they do intend do to something about it... Here is the thing... Once they do raise the value of their currency, and give the people purchasing power, it will encourage spending... And of course these business's taking what has been spent in their establishment's, and placing them in them in the new Iraqi banking system... One that will be more efficient, and convenient for them...
9-15-2017 Newshound Guru MilitiaMan Article: "The Iraqi Central Bank participates in the ninth conference of the International Alliance for Financial Inclusion" Well well. This sure looks like they are about to roll out the red carpet for a new power house in finance for the region. Going on now through tomorrow. I noticed parliament is in session for tomorrow on the Kurds.. hmm.. man is this getting good!!
9-15-2017 Intel Guru Bruce Many of you know that Prime Minister Abadi and a couple of other Dignitaries were here and they went up to New York to speak to the UN. I did hear that Iraq did initiate their monetary reforms 4 days ago in Iraq. We were looking for an announcement to reflect the new rate. We believe the Gazette did come out yesterday with the rate, I don’t have it exactly yet. I am not for sure it got released or it will be release Saturday as far as the new rate. Iraq is done. They are moving along well and that will bode well for us in the very near future. We are very close to this going. I hear some things about any day now, and I feel good about that.
9-15-2017 Newshound Guru G-Lin Therefore, it is not possible to cancel the "dollarization" of the Iraqi economy by administrative decision or by administrative orders from the monetary authority, but the phenomenon will gradually disappear because of the reasons that led to it, ie after the monetary reform referred to above, because the dinar will then become an easy mode of trading and a store of value that avoids using the dollar. Raise the value through monetary reform to 1.2 and the hoarding will disappear. [post 2 of 2]
9-15-2017 Newshound Guru G-Lin Article: "For economic reforms and upgrading of banking institutions" IN A NUTSHELL, WHAT THEY ARE SAYING IS: For more than four years, officials in Iraq talk about a project for monetary reform through which the exchange rate of the Iraqi currency against the dollar so that the new dinar is equal to 1.2 dinars to the dollar instead of 1,200. But the move was postponed until a later time because of the exit of some areas of Iraq from the control of the government after the occupation «urged» them. Military operations began to recover these areas, which still exist. The Government is expected to return to the same project after the end of military operations. [post 1 of 2....stay tuned]
9-15-2017 Intel/Newshound Guru payray Article: "For economic reforms and upgrading of banking institutions" Quote: "For the success of this linkage, administrative restrictions have been applied to the external transfer of goods, services and capital movement. Thus, it followed conservative monetary and financial policies that kept the stability of the Iraqi dinar stabilized by the Central Bank at $ 3.2 per dinar." ...this is great news.. If they want to get those 3 zero notes off the streets, 3.22 would certainly do the job...the dollar would be non-existent in no time.
9-15-2017 Newshound Guru Kaperoni Article: "Three-quarters of the money supply outside banks and the central circle .. calls for investing" I hate to say it, but this is another article that speaks as if they do not know what they should do. As we have said over and over, they need to get parliament to do its part...passed the laws, strengthen the CBI and get deposit insurance in place. Doing so will invite foreign investment, create a revenue stream outside of oil and help them turn the economy around. Iraq tends to do nothing, then complain about it. It's got to be frustrating for Ali al-Allaq, he has been waiting for his revised CBI Law and parliament keeps kicking it down the road.