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Official Central Bank of Iraq (CBI) Dinar Rate:
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8-1-2015 ***** Dinar Guru Newsflash ***** It appears another Dinar dealer is under some sort of investigation by the FBI. Following Sterling's visit in June, Dinar Corp's website appears to be down and reports from gurus and community members is their site name is now under government control. Dinar Corp has not made a public statement yet regarding what's going on but Guru BGG expects one soon. Stay tuned as this very concerning story unfolds...
8-1-2015 Intel/Newshound Guru Poppy3 IMPLEMENTATION OF FULL TARIFFS AND OTHER TAX LAWS NOT TILL AUGUST 2ND MAKING MONDAY THE FIRST OPPORTUNITY FOR US TO REALLY SEE CHANGE IN A RATE. TIME WILL TELL...
8-1-2015 Newshound Guru Kaperoni ...I do not believe there is any relation between the 1095 rate and the official CBI rate of 1166. All these bonds are doing at 1095 is building in the return (interest). Just like a US savings bond does (you pay $10, and in 20 years its worth $25). As for the Tariffs, often a supplier and retailer will absorb the tariff (slight reduction in profit) so the consumer may not be impacted at all. We will have to wait and see if the additional cost changes trickle down or now. Implementation of these certainly does not mandate a RV...
8-1-2015 Newshound Guru My Ladies THIS IS AN EXCITING WEEKEND FOR US. WE KNOW THE BONDS ARE GOING TO CROSS BORDERS TOMORROW AND I AM BEYOND ANXIOUS TO SEE HOW THEY DO IT.
8-1-2015 Intel/Newshound Guru Poppy3 TARIFFS FROM WHAT DR SHABIBI STATED WOULD NOT EVEN PAY FOR THE 3000 WORKERS IT WOULD TAKE TO MANAGE AND COLLECT THE TARIFFS THROUGHOUT THE COUNTRY... IMPORT AND EXPORT. FOR THAT REASON I EXPECT TO SEE A NEW RATE AND OBVIOUSLY THE RATE MUST BE SUBSTANTIAL IF THEY ARE TO FULFILL ALL THEY HAVE THAT REQUIRES FUNDING. WE WAIT WITH GREATER EXPECTATION TODAY AND THIS WEEKEND. EVERYTHING DOES LOOK MORE PROMISING THAN EVER BEFORE.
8-1-2015 Newshound Guru Millionday Quote: "The head of the minister for economic affairs adviser appearance of Mohammed Saleh, Wednesday, that the application of the decision tariff will not change schedule will apply on time." PLANS SEEM TO BE GOING FORWARD ON TIME... [SO WHAT HAPPENS IF THERE ARE TAXES AND NO RATE CHANGE?] THE COST OF LIVING NEEDS TO RAISE IN COUNTRY FOR ELECTRIC ETC -- BUT THE TARRIFF NEEDS TO IMPACT PRICING FOR COMPETITION TO BE SUCCESSFUL -- IMO...GREAT QUESTION... [IF these tariff and taxes start tomorrow [Saturday] without a rate, that will hurt the Iraqi citizens cause they won't have the money to pay for the items that they need with the taxes added to it?] I BELIEVE THEY ARE FOR EXPORTS ETC -- NOT LOCAL PRODUCTS AT THIS POINT.
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7-31-2015 Newshound Guru BGG …They are looking to deal with corruption in the Central Bank is literally huge…that’s almost a direct response to the boldest threat the IMF and the World Bank made to Iraq. They plainly told them if they don’t handle their situation [money laundering and corruption] in the next 60 days they are going to blacklist their currency and it won’t be worth anything. That would be terrible for Iraq and they don’t want that.
7-31-2015 Newshound Guru Kaperoni Article "Parliamentary committee: the government agreed to transfer the powers of eight ministries to the provinces" ...Council of Representatives, for the federal government approval for the transfer of the powers of eight ministries of service to the provinces, next Sunday." This seems like a pretty big deal and it is happening Sunday.
7-31-2015 Newshound Guru My Ladies [tariffs and power transfer still looks like a go?] YEA IT DOES, IT ALL LOOKS GOOD...
7-31-2015 Newshound Guru NOVA ONE THING THAT I ENJOY ABOUT FOLLOWING THE IQD AND THE NEW ECONOMIC ENGINE THE MOST...IS KNOWING WHEN THE FACTS ABOUT 2015 ARE WRITTEN DOWN IN THE HISTORY BOOKS...2015 WILL BE SEEN AS THE START OF AN AMAZING ECONOMIC RUN THAT THE WORLD EVER SAW COMING! AND YES THIS IS NOVAS WAY OF SAYING HE IS EXPECTED! (Excited).
7-31-2015 Intel Guru Mnt Goat Articles: "PARLIAMENTARY FINANCE CONFIRMS THE CONTINUATION OF THE "CENTRAL" TO PRINT NEW BANKNOTES: WILL GO WITHIN DAYS" "Securities Available To The Public Raise The Credit Rating of Iraq to Facilitate External Borrowing" Absolutely predictable and like clock work. Confirms absolutely everything I have been talking about these last months. These coming weeks the window remains the same and I have to say that if we do not see some change in the currency status I will be amazed and totally baffled. I am very, very happy and so should you!
7-31-2015 Newshound/Intel Guru Randy Koonce When the Tariffs take place on the first the Rate should be in the same range it could be a little higher depending on the last arrangement on the HCL that Barzani negotiated. So Unless Parliament changes the date again.. Which they do not meet until next thursday...or there is a loophole none of us know about...then we should see the RV prior to the tariffs if we do not see it then there was a loophole that none of us know about...we are very close even if we do not see on the 1st the excuses are running thin...So to sum up we know they need RV before tariffs, and the bond article is bogus... and barzani is needing his money...GO Barzani...We are close... Every large bank will exchange.. RELAX the RV is coming... Barzani is the Person that has to be paid... and Iraq nor the US can do this without Money and the only way for that is RV... [post 2 of 2]
7-31-2015 Newshound/Intel Guru Randy Koonce One of the biggest things that we have going for us right now is the tariffs they are going to start on the 1st of August. At least they are suppose to...The papers are saying that they are so lets just say they are...The reason they did not RV yet was the president. Now that the president has run out of excuses for not letting Iraq pay the kurds he is going to have to pay barzani which has lead to Iraq starting the tariff articles...Also another major article came out with the bonds selling at 1095 anybody in there right mind should have caught that article as bogus... that was disguise the rate it will actually come out... One of the things we know is the provisional budget that they were going to pay Barzani was going to be in effect from October to the January... and the rate was going to be in the 1.00 to 1.23 and they were then going to pay barzani a portion of the back oil that is owed him and then in a few months re RV and pay the rest... [post 1 of 2....stay tuned]
7-31-2015 Newshound Guru My Ladies [IF Aug 2nd brings a verifiable international currency, does that mean the currency can only change in 2% increments? Or is Iraq able to go in and make a substantial change at any time?] NO 2% IS THE STANDARD OR THE NORM ON FOREX, IRAQ CAN DO WHAT EVER THEY WANT WHENEVER THEY WANT TO DO AFTER THEY GET THEIR CURRENCY TURNED ON.
7-31-2015 Newshound Guru Millionday ...ONE THING THAT IS MORE THAN OBVIOUS -- THE POWER OF THE PRIME MINISTER IS OF COURSE MASSIVE BUT -- WHEN YOU LOOK AT THE IMPACT ON JUST THE INVESTMENT AND LAWS ACCORDING -- IT SHOWS US ALL JUST HOW INCLUSIVE EVERYTHING IS WHEN IT COMES TO MALIKI`S PREVIOUS POSITION --- HUGE. JUST ONE OF THE MANY REASONS IT WAS SO IMPORTANT TO REMOVE MALIKI IN A VERY IMPORTANT WAY IMO. [There was an article out this morning that Maliki was leaving again...any truth to that?] I SAW THAT HIS CHARGES APPEAL WAS DENIED AND COURT WILL GO FORWARD ACCORDING TO MASSIVE REPORT. I THINK THAT HIS REMOVAL WAS A GREAT MOVE FOR NEW IRAQ AND THE INTENSE PLANS MADE FOR THEM. THE WORK BEING DONE IS AMAZING.
7-31-2015 Newshound Guru Enorrste ...my point was that unless they also reduce the value of the money supply then the issuance of the 50k and 100k notes will be worthless. Reducing the amount of paper in circulation may be a "feel good" for the people, but the CBI must have a greater goal in mind than that. Several articles have stated clearly that the issuance of the larger notes will improve the value of the dinar. The only way to achieve that is to reduce the value of the money supply at the same time they are reducing the paper. Otherwise the dinar won't rise in value and the even exchange will have been a waste of time and money. It will take more than just reducing the demand for dollars by giving the people an alternative. An even exchange gives them the alternative to move to dinars but does nothing in itself to raise the value. Only a reduction in the total value of the money supply will raise the value, and the CBI has stated that this will raise the value. Ergo, the value of the money supply must fall. [post 2 of 2]
7-31-2015 Newshound Guru Enorrste Article quotes: "...in the process of printing banknotes category 50 000 dinars to put forward in the Iraqi market early next month..." "2016 will see a new printing papers 100 000 dinars class to put on the market," We should not expect to see the float begin prior to the issuance of the 100k notes, in my opinion. Things have, once again, slowed down. However, if the issuance of the 50K notes results in a stop to the fall of the dinar or even an approach of the street rate to the official rate, then the CBI might step up the introduction of the 100K notes to get the ball rolling faster upward in value. The big question is whether this plan will even work. If it is an even exchange only then there will be no change in the dinar value. If, on the other hand, they are able to reduce the total VALUE of the money supply through this plan then we should expect to see the dinar begin to rise in value. It is my opinion that they want to have some serious upward pressure on the dinar prior to initiating the float. If they can get locals away from dollars and into dinars then the demand for dinars will grow, putting that pressure into play. The big question is: IF. [post 1 of 2....stay tuned]
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