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1-25-2015 Newshound Guru Millionday THERE WAS A HUGE ECONOMIC FORUM IN IRAQ TODAY [SATURDAY] THAT WAS TO ACTIVATE THE PRIVATE SECTOR AND THE LAWS PERTAINING...APPLICATION OF ALL OF THESE LAWS INCLUDING THE HCL...ALL AT THE SAME TIME. THEY NEED TO MOVE FUNDS IN AND OUT OF IRAQ FOR THIS TO ALL WORK SO THEY ARE FACILITATING THAT. IN ORDER TO MOVE FUNDS IN SIDE AND OUT AND FACILITATE THAT -- IT HAS TO BE INTERNATIONALLY RECOGNIZED.
1-25-2015 Newshound Guru tlm724 Iraq has control of their destiny now, no more restrictions or sanctions, they have a mostly unified GOI and strong leaders blazing the trail. They are applying the monetary reform and have a new CBI Law and the Banking law plus the Investment Law amendments ready for parliament. there are several factors confirms the possibility of the high value of the dinar against the dollar...the most prominent is the existence of a great desire for investors Foreigners buying the Iraqi dinar. I am sure there are way more entities buying dinar than just us lil investors...countries buying it for the foreign reserves, large investors etc. the fact that there is a "great desire" is very encouraging because remember supply and demand helps raise the value as well...in addition to having an excellent cash reserve, which covers the local currency...plenty of money to cover all the dinar out by 150 % ...there is no reason why the CBI should not let the dinar loose, get it off the programed rate...
1-25-2015 Newshound Guru Aggiedad77 Article: "Decision: Parliament will not shut down this week, but after the adoption of the budget" ...encouraging news it is...they will not take weekend breaks until the budget has been voted on...well get 'er done then...maybe Wednesday or sooner...
1-25-2015 Intel/Newshound Guru Poppy3 THE NEW RATE IS VERY NEAR. THE RATE HAS TO BE ABOVE THE USD IN VALUE AND MY OPINION THE LOWEST WOULD BE BETWEEN $1.25 TO $1.50 BUT I REALLY AND ALWAYS HAVE THOUGHT THEY WILL TAKE THE JUMP TO $3.00 PLUS TO HELP QUALIFY FOR ALL THEIR NEW LOANS, PAY BILLS, AND SUPPORT THEIR BUDGET. ANYTHING LESS WILL MAKE IT TAKE YEARS MORE TO RECOVER AND DEVELOP MUCH LESS REBUILD THEIR INFRASTRUCTURE.
1-25-2015 Intel/Newshound Guru tman23 AT SOME POINT IRAQ WILL HAVE TO MAKE THE DECISION ON THEIR CURRENCY, I AM OF THE OPINION THE DECISION HAS BEEN MADE AND NEXT WEEK WILL BE MOST REVEALING... The Budget will be voted this coming week and expect to see the real fireworks on or before 1/28.
1-25-2015 Newshound Guru Millionday [I am extremely excited but would be more so if that post came from the CBI.] THE REASON I AM EXCITED IS TWO FOLD -- ONE THEY ARE OPENLY TELLING THEY ARE GOING TO THE GLOBAL MARKET AND TWO -- THEY ANNOUNCED THAT THE GOV IS READY AND THAT CAME FROM THE GOV --- CBI HAS STATED A LONG TIME AGO THEY ARE READY IN OPEN ANNOUNCEMENT. Quote: "Revealed the appearance of Mohammed Saleh adviser to Prime Minister Haider al-Abadi Economic Affairs proximity of key economic laws contribute to the recovery of the Iraqi market and investment opportunities." NOW WE ARE HEARING WHAT FROM SALEH? HE TOO IS STATING IN OPEN THAT THEY ARE HEADED TO A MARKET ECONOMY AND DEVELOPMENT FOR IRAQ. [post 2 of 2]
1-25-2015 Newshound Guru Millionday Article quote: "Iraqi dinar, in addition to having an excellent cash reserve, which covers the local currency, as well as the dinar currency traded publicly in the global currency markets." GLOBAL CURRENCY MARKETS -- THEY ARE GOING TO FOREX...WHOOPOW! THAT MEANS BACK TO A REALITY RATE FOR THE MARKET. [When will they start trading on Forex?] THEY SAID THAT NOW IS THE TIME TO TAKE THE CHANCE WITH IT...THIS GOES WITH THE ANNOUNCEMENT THEY MADE TO THE CITIZENS ABOUT BEING READY IMO. THEY ARE ANNOUNCING THAT THEY ARE RAISING THE RATE HIGH AND GOING TO GLOBAL MARKET -- THAT IS NOT NORMALLY ANNOUNCED A LONG TIME BEFORE THE MARKET ENTRY. [post 1 of 2....stay tuned]
1-25-2015 Intel Guru TD Based on chats with my Kurdish amigo (treat all as rumor and please due your own sound diligence) there really is no earth shattering enlightening news to speak of . Abadi acknowledges at the economic forum that in light of oil prices declining, the urgent need of Iraq to embrace with all capacity iraq's urgent need to transform its economy into a broad market driven economy with development into many areas of growth. In the meantime economists and the CBI are again patting each other on the back regarding keeping the dinar at a stable rate in spite of many challenges and strong head winds. So really there isn't much new to report as the push to achieve state security overwhelms all else and the economic reform progress is in its infant stage.
1-25-2015 Newshound Guru My Ladies THE BUDGET WAS NOT VOTED ON AGAIN BIG BIG SURPRISE...NOT!! PARLIAMENT CAME, THEY SAW, THEY LEFT...THEY VOTED FOR NOTHING AT ALL, NO BUDGET, AND NOTHING NEW. WE ARE NOT WAITING FOR A RATE IN THE BUDGET. WE ARE SIMPLY WAITING FOR THEM TO PASS THE BUDGET. WHEN THEY PASS THE BUDGET THEY WILL NEED TO BE INTERNATIONAL...AT THE PRESENT TIME IRAQ HAS A PROGRAM RATE THAT CAN NOT BE USED ON THE INTERNATIONAL STAGE. SO WE ARE WAITING FOR THEM TO JUST GET THEIR CURRENCY BACK AND HAVE IT BE TRADABLE AT WHATEVER RATE.
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1-24-2015 NewshoundGuru Chattels i opined earlier this week that i believe that the budget bill will be on the desk of the President for signature by February 1st.
1-24-2015 Newshound Guru Kaperoni the currency cannot wait 4 years. I believe the dinar will start this year in 2015. But people need to realize this is much more than the currency...its the whole transition to a market economy.
1-24-2015 Newshound Guru Aggiedad77 Article: "Finance Committee confirms the possibility of adoption of the budget during the current week" A member of the Finance Committee spoke and has related that the committee is ready to push the budget for 2015 back to Speaker of Parliament for a vote probably later this week...will that be on Monday...remains to be see at this point...
1-24-2015 Newshound Guru wmawhite [WE HAVE SEEN A RELEASE THIS MORNIG FROM RAFIDIAN IN UAE, STATING QI CARDS LOADED FOR RETIREES THERE...] I believe the Qi Cards are another indicator...an item that is dependent upon the IQD changing status within the central banking system (BIS). All credit card transactions conducted internationally move through the central bank system which includes the BIS...the BIS is the world's central bank accounting system...keeping track of who owes what. ...the IQD will need to be recognized by the BIS, the U.K...everywhere.
1-24-2015 Newshound Guru Tlar [how important do you think it is to have someone other than 'Keywords' as the Governor of CBI for this to go down? (like maybe getting Shabibi back in the saddle?).] As far as Shabibi getting back in the saddle, I don't think we will see that although I believe he is consulting with the CBI. Being the architect of the plan, he is a valuable resource.
1-25-2015 Newshound Guru sczin11 [I saw where you said, "Shabibi is on deck". What do you mean by that?] [reference OOTW & sczin post 1-23-2015] I AM A BIG BELIEVER HE WROTE THE PLAN, HE UNDERSTANDS THE PLAN, HE HAS GREAT CONNECTION WITH IMF, THE PEOPLE OF HIS GREAT COUNTRY LOVE HIM, YES, I BELIEVE HE WILL BE GIVEN THE HONOR, THE PRIVILEDGE, TO PLACE IRAQ ON THE WORLD TRADING PLATFORM!
1-24-2015 Newshound Guru Millionday THE SPEECH GIVEN BY ABADI TODAY [FRIDAY] AT THE ECONOMIC CONFERENCE...IS VERY POSITIVE AND HE IS VERY CLEAR THAT THEY HAVE TO MOVE FORWARD WITH REFORMS AND THEY ARE IN NEED OF THE FOREIGN INVESTMENTS. ABADI PLEDGED TO ADVANCE THE ECONOMY OF IRAQ AND ASKED FOR HELP DUE TO THE MOVE FROM FOREIGN COUNTRIES WITH SECURITY ETC. THAT SAYS A LOT -- THE RESULT WOULD BE THE REMOVAL OF TERRORISM FROM DAASH.
1-24-2015 Newshound Guru sczin11 NO ONE SAYS IT IS DELAYED...IT IS A VERY COMPLICATED PROCESS, AND A VERY DETAILED PLAN TO EXECUTE. THE PROCESS, HAD TO BE ESTABLISHED...AND THEN YOU HAVE THE MALIKI CREW TO BE DEALT WITH...WE ARE IN A GREAT PLACE, AND SHOULD ALL BE PROUD OF WHAT HAS BEEN ACCOMPLISHED THUS FAR...DR. SINAN AL SHABIBI, IS WAITING FOR THE CALL TO DUTY!
1-24-2015 Newshound Guru Kaperoni ...the recent articles from the CBI indicating they are ready to “participate and promote development” are encouraging. I want to point out that Dr. Bakri [Economist] states the dinar "first needs to improve" (raise in value) before they can move to Article VIII. In other words, the float may be institutional and gradual before they accept Article VIII and a new Exchange Regime. I also get the impression that the dinar can be convertible worldwide without technically accepting Article VIII. And lastly, he says... "improvement comes through delete some zeros" which to me again seems to imply a gradual appreciation because as the dinar rises, zeros begin to go away... he did...confirm the process is moving along, that the reforms are happening, and there is promise...and more importantly the new GOI is moving in the right direction. Iraq's economy is complex for sure. But I don't think what we are looking for will take much longer. As for currency reform, the timing will be kept secret within the CBI...
1-24-2015 Newshound Guru wmawhite Iraq has told us that they want to join the world financial markets...and they want investors...in order to do both Iraq via the CBI has to promote confidence in the IQD...to do that the CBI needs to add value to their currency.
1-24-2015 Intel Guru TerryK ...A LITTLE BIRDIE CALLED ME ...AND TOLD ME THAT WE SHOULD SEE OUR BLESSING THIS SUNDAY...I GUESS ABADI PULLED SOME STRINGS.
1-24-2015 Newshound Guru Tlar One thing I have always thought is that any change in value will have to come just before the budget is printed in the Gazette. If that is true then it follows they can't pass the budget without first changing monetary policy. If this is true then it might answer the question of why the budget is taking so long to fix. Iraq seems determined to pass this budget quickly and all parties are on board, but to make the changes and modifications should not take weeks as it has done already especially in light of the fact that they are in such a hurry. Word processors should be able to do this overnight. Not take weeks. Something else IMO is holding up the vote and I think its the rate. Both readings are done leaving only the vote but they keep putting it off. My personal opinion is that the hold-up is the rate and we won't see a vote until we see monetary change because IMO the budget cannot be opened at 1166. As I say this, we all know this is Iraq so we know they CAN open it at 1166 but IMO they won't.
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