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4-24-2014 Newshound/Intel Guru Arthur AND THEN WE HAVE THE RECENT ARTICLES SHOWING THE NEW DENOMINATIONS AND SOME SAYING THAT MEANS IT WILL FLOAT FROM 1166 AND ALL THE REFUTING OF THAT CONCEPT AND SO ON AND SO FORTH. THE BOTTOM LINE IS, WHAT WE DO KNOW IS THAT BASIL REQUIREMENTS DICTATE THAT, WHATEVER IT STARTS AT, IT WILL EVENTUALLY AT SOME POINT IN TIME BE COMMENSURATE WITH THEIR WEALTH WHICH INCLUDES, OIL, THEIR MARKET ECONOMY, FOREIGN RESERVES, AND THE GOLD THEY CURRENTLY POSSESS AS WELL AS THE GOLD THEY INTEND TO ACQUIRE IN THE FUTURE ALL OF WHICH IS ALREADY WELL ABOVE THAT OF THEIR NEIGHBOR KUWAIT WHICH WE KNOW CURRENTLY HAS A RATE OF 3.55. [post 2 of 2]
4-24-2014 Newshound/Intel Guru Arthur IT SERIOUSLY APPEARS AS THOUGH WE ARE WITNESSING THE STEPS WITHIN THE PROCESS OF IRAQ IMPLEMENTING THEIR PLAN FOR ECONOMIC/CURRENCY REFORM. ALL OF THEIR RECENT ACTIONS POINT TO THAT FACT. THERE HAS BEEN MUCH CONJECTURE AND DEBATE ABOUT JUST WHAT THE EVENT WE CALL THE RV WILL LOOK LIKE. ALTHOUGH THEIR STUDY IS WELL DOCUMENTED WHICH SAID THAT THE REALITY RATE WAS 3.22 AND THEN IT SHOWED ALL THE REASONS WHY THAT WOULD NOT BE A GOOD IDEA AND WHY IT SHOULD START AT 1.13 OR SLIGHTLY HIGHER, BUT AGAIN, THAT WAS JUST A STUDY AND NOT A MANDATE AS TO WHAT THE CBI ACTUALLY HAS IN MIND. [post 1 of 2....stay tuned]
4-24-2014 Newshound Guru Millionday very HUGE WORDS >>> "The governor of the Iraqi Central Bank and the Agency Abdel Basset Turki, on Tuesday, that the bank had invited his counterpart, "JP Morgan" the U.S. to open a branch in the country." Quote: "the central bank extended an invitation to JPMorgan the U.S. presence in Iraq by opening branches in Baghdad and the provinces," stressing that "the opening of such major banks branches in the country will facilitate transfers of financial and opens credits global banking reliable by the citizens." . for global banking...which requires a reality rate for internationally recognized currency to make it international or global as stated here.
4-24-2014 Newshound/Intel Guru BGG I can tell you - based on some recent info, I am very encouraged. One way or the other - there is an endpoint in sight...it will end well.
4-24-2014 Newshound Guru Tlar ...where are they going. My guess is that the CBI has been having them shipped and deposited directly in BIS as well as some being turned into gold purchases and deposited with BIS...Maliki stated he was going to get the funds. I believe Turki, in order to keep Maliki from getting these funds, has diverted them directly to BIS. They are part of the reserves but have yet to be accounted for on the CBI website. These funds added to Iraq's known reserves and gold holdings makes the CBI one of the strongest banks in the world. Kuwait has one of the strongest currencies in the world but only has 32 billion in reserves. If we count the CBI's potential reserves, they have almost 250 billion holdings they claim as reserves once the entire 82 billion is brought in house. [post 2 of 2]
4-24-2014 Newshound Guru Tlar The CBI since 2007 and through two different governors has steadfastly protected the reserves...the CBI announced their cash reserves are $100 billion USD equivalency. They have also announced their gold reserves were 90 tons. In November they told us the gold reserves were equal to their cash reserves which the cash reserves at the time were standing at 89 billion USD. Why the discrepancy and what happened to the rest of the gold? In October if I remember accurately, the CBI announced that because Iraq was now released from Chapter VII UN Sanction that the CBI would be getting 82 billion of released funds from banks around the world. [post 1 of 2....stay tuned]
4-24-2014 Intel Guru Bluwolf The exchange of the dinar shall transpire normally as with any other currency there are no restrictions or special implementations it would be illegal. Iraq might have a new change of government officials today. We are on a second to second watch and the codes are being seen on all bank screens.
4-24-2014 Newshound Guru Millionday Article: "The Central Bank's Treasury Director Ihsan Al-yasseri said the Central Bank has printed currency notes of small groups (250, 500 and 1000) and also large groups (5, 10 and 25) 1,000 dinars." this is not the release of the coins and the small denoms but is obviously a huge sign they are back from the printer and done also - they are for trade business...this is huge when you think about the major bank issues we have been seeing with no currency and citizen complaints - also huge because it is on the streets -- large denoms we knew they printed. [also, why give a note that is worth only $0.21 security features?] bingo. this has NOW BEEN IDENTIFIED TO BE ONE OF THE STEPS CBI/TURKI SAID WE WOULD SEE FOR THE ACTIVITY OF THE ACTIVATION OF THE MONETARY POLICY -- AN IDENTIFIED STEP.
4-24-2014 Intel Guru Frank26 Article: "Iraq issued new coins of high security specifications" The article is phenomenal but more telling is the ...Timing. If There was NO rate change coming in the near proximal future then why RISK moving Talabani to Kurdistan so he can celebrate with the Kurds the announcement of NEW COINS and LD's with the Kurd language on it? Because it is called ...Timing...we count 17 things sitting on a Time Table...Waiting for the new IQD rate to be released by the CBI. ...coins nor LDs have been introduced physically yet.
4-24-2014 Newshound Guru Kaperoni The reprinted currency dinars are now out in Iraq. This is great news for us! Bad news for those wanting a RV. Great news for a gradual appreciation but more importantly it confirms two great things! no LOP and the dinar we hold will rise! you dont reprint existing notes for a RV...u reprint if you plan to have them in circulation for a period of time as the dinar rises. Ok, this is not my opinion, its right in print from the IMF. its great news, IMO.
Below are the latest guru updates from late last night and yesterday...be sure to check them out before you leave...
4-23-2014 Newshound Guru BGG Articles about new currency aside... I have talked to 2 contacts directly (in the last 24 hours) - not a peep. They are unaware of such moves. Not being distributed yet...both with direct Baghdad access (if anyone would know - they would).
4-23-2014 Intel Guru TD The CBI is again vocal with renewed announcements of new notes printed & ready to be phased in. The CBI will act on various monetary programs to roll out shortly after elections & it does not matter what government is formed. DFI funds release date of May 22nd is a focal one to keep an eye on. The CBI has the will & might to execute and at this point has a June time table for execution of various programs. The RV, RD, RI piece of the puzzle may soon be solved.
4-23-2014 Newshound Guru wmawhite [are you in agreement with rk and bgg that it should go before elections?] My opinion is that this is a financial event, not a political event. When the CBI does this in conjuction with the IMF/WB it will be based on their calendar not Iraq's election calendar, IMO. It can happen before, after, it doesn't matter, IMO. [post 3 of 3]
4-23-2014 Newshound Guru wmawhite IMO, Iraq wants to make a big splash...get the world's attention...a float that you are dependent upon the world doesn't get them there quickly, IMO...the CBI is telling us so much. The only thing they are not telling us is how much. From their action they are doing things that indicate now. I am of the opinion that when the CBI make a change in the value of the IQD they will wants to leverage as much of it as possible...starting at 1166, or 1000 or anything less than a $1 to 1 IQD gets them no where on the world financial stage. [post 2 of 3....stay tuned]
4-23-2014 Newshound Guru wmawhite there are articles out today suggesting that the new secured currency is being issued. Quote: "We are replacing the old currency with a new one be of the characteristics of high quality in terms of printing and the inability to forge and tampered with." He pointed out that the procedure "will give the Iraqi dinar a large force in front of the rest of the other world currencies, as well as the ease of carrying and trading groups yellowed cash in banking transactions and the buying and selling and monetary exchange." this great news!!! for this currency to "work" there needs to be a change in the value of the IQD. [post 1 of 3....stay tuned]
4-23-2014 Newshound Guru Tlar The blocks...stated that they want to pass the budget right after the election...and have already agreed on the Kurdish issues to make sure it does...the likely hood of it getting passed before the elections is all but gone. The CBI has let the contracts to reprint the 250, 500 and 1000 notes. It is my belief that until these notes are printed and we begin to see large number of notes being swapped out we will not see an RV. If the CBI were to pull the trigger without the new 250, 500 and 1000 notes already going into circulation, Iran would be sucking billions and billions within a few days of the project implementation. They must reprint them before these notes have value. I see this as a change to the plan but it is an aboslutely necessary change to protect the currency.
4-23-2014 Newshound Guru Kaperoni The CBI is following the directive of the IMF...and that will be a gradual appreciation of the dinar. And once they open the market economy and capital account, the dinar should rise fairly quickly based on the IMF's own statement..the Balassa-Samuelson effect. Give it a bit...remember the Iraqi's need a currency they can appreciate and be proud of and use while the dinar rises. Using the dollar is not an option. [post 2 of 2]
4-23-2014 Newshound Guru Kaperoni Article: "Iraq issued a new currency with a high security specifications" Looks like the new dinar is already starting to circulate. This announcement validates two things, the dinar will rise gradually (no RV because reprinting these notes makes no sense then) and their is no redenomination (LOP) again makes no sense to reprint current denominations. This "only" makes sense in a gradual appreication or float in which these notes can be used by the citizens while the dinar appreciates and a slow transition per the statement..."will give a great power of the Iraqi dinar against other world currencies" [post 1 of 2....stay tuned]
4-23-2014 Intel/Newshound Guru American Contractor Article: "Iraq Central Bank invites JP Morgan Bank to open branch in Baghdad" The Iraq Central Bank has sent an invitation to the JP Morgan Bank to open a branch in Baghdad. This is preliminary and we will see what develops. Great News!!
4-23-2014 Newshound Guru Millionday Article: "Announced the Finance Committee in the Iraqi Council of Representatives, that the Council will resume its sessions in the sixth month of May next to approve the budget bill for fiscal 2014." so as we see here they are going to meet about the budget on may 6th after elections for the budget... CBI is a separate entity so with the many announcements of them moving forward with economic reform with international investment they would be pressured into also activating their own projects
4-23-2014 Newshound Guru Aggiedad77 Article: "Furat al-Shara describes the adoption of the budget by the end of April / miracle" So all attempts at coming to some budget resolution have apparently failed...in that light...we have a MP stating that it would be a miracle to see the adoption of the budget by the end of April...especially so when everyone is now trying to protect their own selfish interests...meaning to get re-elected to Parliament...the budget is the last thing on their mind...
4-23-2014 Intel Guru TerryK SO WHAT'S THIS RUMOR I HEAR WE MAY HAVE HAD A SIGN OFF LAST NIGHT...HAVE SOME CALLS INTO SOURCES. ONE IS TELLING ME THAT I NEED TO FUEL THE VEHICLE AND GET READY.
4-23-2014 Newshound Guru Tlar Maliki made another run on the CBI. He attempted to use as his excuse salaries need to be covered and with the budget tied up they needed to borrow billions from the CBI to cover them. Turki again stood his ground based on the constitution, declaring the banks independence and the constitution obligation not to make loans to the government. As Maliki slips in power Turki has grown in power. It is my belief that Turki is now educated in banking and is starting to act as a confident Governor and good things are finally at hand. Things look like they are finally falling into place. [post 2 of 2]
4-23-2014 Newshound Guru Tlar 8 days left until the parliamentary elections in Iraq. Maliki is still fighting to get a third term but all the blocks have basically turned their backs on him...He is extremely fearful of not being in some political position after the elections because if he is not, he looses his immunity. Maliki has stated that if he can't win the PM job for a third term that he will leave Iraq. A poll taken recently that is supposed to be representative of the people of Iraq showed Maliki getting 11% of the vote. Maliki is finished in Iraq and if he does not escape the country, many are now stating he will end up being prosecuted... [post 1 of 2....stay tuned]
4-23-2014 Newshound Guru Kaperoni ...everything we have read indicates right after the elections. So I am looking forward to the CBI making a move shortly.
4-23-2014 Newshound Guru Millionday [do you think the CBI already has a rate in the back of their heads?] yes i think they have it already and it is not released.
4-22-2014 Newshound Guru Aggiedad77 Article: "Finance Committee, rest assured: Settlement Agreement with the United States to ensure the protection of the money after the lifting of immunity" There has been a number of questions as to why the Iraqi's would wait until the last minute to try and secure the funds they have in the US in the DFI accounts...the Minister of Finance along with the CBI Governor, Turki, have been coordinating efforts with the Iraqi Embassy in Washington to protect these funds once the immunity is lifted on May 22, 2014.....Iraq is doing the necessary precautions to protect its money while at the same time making arrangements to settle debt obligations as agreed upon and signed by the Paris Club.
4-22-2014 Intel/Newshound Guru Poppy3 I GOT A CALL LATE LAST NIGHT AND WAS TOLD THAT THE CONTRACTORS HAVE BEEN INFORMED AGAIN THAT THEY WILL BE PAID LATER THIS WEEK AND NO THEY DID NOT SAY IN WHAT CURRENCY THEY WILL BE PAID BUT THAT THEY WILL BE PAID LATER THIS WEEK.
4-22-2014 Newshound/Intel Guru BGG [do you believe the Hot window rk [Randy Koonce] was referring to?] That I agree with - for all the same reasons. [see Randy Koonce's post 4-21-2014]
4-22-2014 Intel Guru Roger Watch for something to happen as soon as BEFORE Iraqi elections (April 30th). Maliki needs to increase value of IQD in order to be supported by his party to be placed as Prime Minister once again. Iraqi Dinar bank notes are extremely limited in Iraqi Banks and within the country, which has been verified by more than one credible source... I am being told there will be NO NEED TO RUSH to cash-in! Apparently there will be a FIXED RATE for 6-8 months. This is a VERY FLUID, politically charged situation. I’m definitely getting excited! [post 2 of 2]
4-22-2014 Intel Guru Roger I’ve been hearing some extremely positive information about Iraq lately. I have NO WAY of being able to verify this information... Will happen similar to Kuwait where the rate will just APPEAR without fanfare or announcement. Rate is agreed upon by US Administration (more than what they want us to have, but willing to accept due to inability to continue to support Iraq. [post 1 of 2....stay tuned]
4-22-2014 Intel Guru TNT Tony The clock is ticking and this nightmare is coming to an end. I told you it was a superfantastic weekend. You will soon see.
4-22-2014 Newshound Guru tlm724 The CBI already has control over the banks dinar now they will have the traders dinar as well. Think about it what a brilliant plan! Having the dollar out on the street will not be an issue when it RV's or whatever the CBI intends to do because the people can just trade in their dollars for the newly issued dinar (LD's) when it is released. I think Turki is more than smart...he is a chess player and he is making his move, checkmate! [post 2 of 2]
4-22-2014 Newshound Guru tlm724 Article: "Central Bank of Iraq declared that it granted approval to the companies of money transfer to open accounts directly in the Bank." Not only is this a way for the CBI to control spread of the market price thus creating the stability that is required of them by the IMF but it also allows them bring in the triple zero notes. By allowing the traders to participate in the auctions the CBI has complete control. [post 1 of 2....stay tuned]
4-22-2014 Newshound/Intel Guru BGG [an article...said they won't get the budget done for another 30 to 45 days, your comments on this please?] I have never said the budget matters however, there were also recent articles pointing out the budget will be get done immediately after elections. if they happen to pass a budget - they can easily go back and "rate adjust" things.
4-22-2014 Intel/Newshound Guru Poppy3 Dinar Trade [offers multiple] Physical Locations...THEY WOULD NOT BE SPENDING THE $$$$$ TO OPEN ALL THESE OFFICES IF THEY WERE NOT THINKING THEY ARE NEAR THE TIMING OF THE RV --- THIS IS AWESOME NEWS AND DEFINITELY SHOWS THEY THINK THE RV IS VERY CLOSE. EVERY ONE OF THESE OFFICES FOR SURE IS COSTING THOUSANDS TO GET OPEN. THINK LEASES, FURNITURE, EQUIPMENT, POWER, MANPOWER, LICENSE, ETC. NOW THAT TELLS ME THEY THINK THE RV IS FIXING TO HAPPEN AT ANYTIME. THIS ANNOUNCEMENT FROM ANY DEALER IS HUGE NEWS IN MY BOOK.
4-22-2014 Newshound Guru Millionday they have announced that the companies that will be doing the exchange in Iraq will be able to exchange for dinar or dollar -- the national currency is dinar -- period -- per regulation but - they have huge projects going on -- and the usd is the world currency...now they are also going to be able to take part in the auctions -- in other words -- the dinar will have to have a reality rate for this when it is done -- that shows another step and these are by far HUGE steps that are very clear. [post 2 of 2]
4-22-2014 Newshound Guru Millionday Article: "Central Bank of Iraq declared that it granted approval to the companies of money transfer to open accounts directly in the Bank." ...this is announced as a step to set the international rates permanently but let me explain what they mean...at the airport when you arrive on an international trip -- you give the exchange place your usd and get whatever their currency is --- that company needs to give you their currency and also make drops of their funds at night as a regular business -- so... [post 1 of 2....stay tuned]
4-22-2014 Newshound Guru wmawhite I...believe that because all of this is a critical timed process...we never heard of any news in advance. What we are told about, even the gold buys, are after the fact. It makes sense, they can not, will not, tell the world before it happens.
4-22-2014 Intel Guru Hub i dont pay much attention to the rumors or news articles, i just know the dinar has been a valued currency for hundreds of years and will do so again...very quickly i think.
4-22-2014 Intel/Newshound Guru Poppy3 NOW WHAT THIS ALL MEANS IS THERE WILL NOT BE LINES OF PEOPLE RUSHING THE BANKS WHEN THIS DOES RV. THERE JUST ISN'T THAT MANY PEOPLE IN ONE AREA TO CREATE A RUSH AT ANY ONE BANK. THERE ARE THOUSANDS OF BANKS TO SERVE US AND THERE ARE 300 MILLION PLUS IN AMERICA, HAVE YOU RUN INTO A LINE AT ANY BANK LATELY. ALL WE NEED TO HEAR IS THE NEW RATE... [post 2 of 2]
4-22-2014 Intel/Newshound Guru Poppy3 IT IS STILL SAID BY SOME LONG TIME DEALERS THAT LESS THAN 1% OF AMERICANS HOLD DINAR AND THAT 70% OF THOSE HOLD LESS THAN 100,000.00 DINAR. THEN ON THE LARGE END I HAVE BEEN TOLD SEVERAL TIMES THAT WE THE PUBLIC AND CORPORATION WITHIN AMERICA HOLD APPROXIMATELY 1.2 TRILLION DINAR. I REALLY BELIEVE THIS FIGURE TO BE PRETTY CLOSE TO A CORRECT FIGURE. THIS DOESN'T COUNT WHAT OUR UST HOLDS AND I KNOW THEY WHERE DELIVERED 4.3 TRILLION BACK IN 2005? [post 1of 2....stay tuned]
4-22-2014 Newshound Guru Kaperoni Someone asked me how long does the CBI have to hold that 2% spread until the IMF will let them leave to Article VIII? I do not know that answer...it could be days or months. I did see once, that the IMF did require that a country hold for 90 days but keep in mind, the CBI has held the dinar stable at 1222 for 3 months already and 1218 for the last week...so they may allow the CBI to transition out of Article XIV to Article VIII in short order..we will just have to wait and see. Once they are in compliance. so many rumors are going around that these article have something to do with dinar dealers in the US etc. it does not...what the CBI stated today [Monday]...is only in Iraq.
4-22-2014 Newshound Guru Aggiedad77 Article: "Central agrees to open accounts directly for money transfer companies" Again...another article that announces the ability of money transfer companies to open accounts directly with the CBI to participate in foreign currency auctions...bringing further stabilization to the exchange rate.
4-21-2014 Intel Guru Frank26 It is important they control that market before June 14, 2014. Do you remember that language law? This morning on Iraqi TV they are now saying this language law is going to be implemented now. Talk about timing! The CBI is trying to get these 3-zeros the dealers sold to us back. The CBI wants us all to deposit these 3-zero notes into exchange offices all over the world. These final 3-zero, if they're not collected back, they will co-exist but you won't see them on the streets in Iraq. This is a very, very well done monetary reform. Everybody involved should be applauded and will become a model the IMF will use for other countries. This is about as exciting as it gets. [post 3 of 3]
4-21-2014 Intel Guru Frank26 All these banks and exchange offices will now be able to help with this exchange and will be able to help the CBI with this process of exchanging the 3-zeros into the LDs and coins. This is coming from the CBI. This is the same group that told Turki to increase the value of the currency "as you see fit." Have we not seen Turki take us to where we are at now? They are controlling the market price by doing this as well. [post 2 of 3....stay tuned]
4-21-2014 Intel Guru Frank26 The CBI reached out to other banks (non-state banks), exchange offices, simple mom & pop banks, etc. which is not normal. So they now have bridged themselves so people around the world can go to these institutions and take their 3-zero notes. The timing is what is so important. If I now walk into one of these banks or institutions associated with the CBI outside of Iraq, what will they give me? They will give me the currency of my country. They don't use their 3-zero notes because they know something is about to happen. The timing for the schedule for something to happen by June 14 is important. The reason the CBI is doing this is because of a "special event." The only special event they should be involved in is the monetary reform of their currency. They are doing this to get you to come in and exchange your dinars. [post 1 of 3....stay tuned]
4-21-2014 Intel Guru DC You definitely should be in a very, very happy mood. We are in a great place today. [Is the 30 day window still on the table?] Our understanding is we dont need that much time ...most will be done in 7-10 days. This needs to get done while the politicians who make the deal are still in place. It's important it gets done before the elections. We know the banks are well rehearsed and prepared. The UST is prepared. All have their acts together. We can't get into anything on rates...expect 3 dollars and anything more than that is gravy...the rates are fabulous...thats all I can say...Everyone will not get the highest rate. It will be a nightmare if it doesnt happen extremely soon. We are really close. Everything is very good sit back and smile.
4-21-2014 Intel Guru Nova They're doing it because they want absolute control over the process and don't want people hoarding what they turn in. What would we do? We would hoard and do everything we can not to spend money because we know something is going to happen. Once this rolls over people it will affect every single person in Iraq. Nobody knows what's on the CBI's list, but an action like this by the CBI is done RIGHT AT THE END. They don't have the time or resources, but it's what they HAVE to do. Again, it doesn't speak to tomorrow, but it's another huge step they are doing what is necessary. [post 3 of 3]
4-21-2014 Intel Guru Nova They don't typically have "special situations." It's not bonds. It's what we all are waiting to hear. It's not gold. What other "special situation" is the CBI anticipating? The one that will impact every single person in iraq. To control this process they need to allow every bank direct access to the CBI. What does the CBI want? They want the higher denoms back. So what the CBI has done is say "you deal with us directly" for this "special situation." That's it in a nutshell. [post 2 of 3....stay tuned]
4-21-2014 Intel Guru Nova One of the things they did yesterday is took a big step in being unable to hide what they're going to do. They announced they would allow 3rd party institutions to do direct business with the CBI's auctions. The only way you can do business with CBI is to participate in the auctions. Right now that's the only way to participate. They have to do a lot of work to do this. They said this would help with money laundering. The main reason is for a "special situation." [post 1 of 3....stay tuned]
4-21-2014 Intel Guru TNT Tony This was a great weekend. Things have progressed to a great point. We have been on the half inch line and a prolonged time out...what's next? Run the final play. I definitely think we will see something this week. Too many things happening around the currency reform. [What is the last step?] RV has happened, DFI is released, we are waiting for the international announcement. They need this NOW in Iraq...we need this now. We are relaxed, waiting on the inevitable phone call.
4-21-2014 Newshound Guru Millionday CBI will add pressure at some point because they are and have announced they are moving forward and doing it in set steps...they are not loaning money without the budget in place to the iraqi gov but they are willing to move forward with reforms to activate exchanges so that the international projects can begin. [post 2 of 2]
4-21-2014 Newshound Guru Millionday "Central Bank of Iraq declared that it granted approval to the companies of money transfer to open accounts directly in the Bank." A statement for the Central Bank of Iraq cited that: "The Board of Directors, in its meeting yesterday, decided to let money transfer companies to open accounts in the Bank directly deal with both / Iraqi dinar and dollar / to carry out the purchase of foreign currency." this is huge...so with the exchange rate coming permanently -- we know that the licensing of these money exchange companies are complete so what we have is a step in the process that is a very big step of setting the rates for them and us...they are going to allow them to take part in the auction as well. [post 1 of 2....stay tuned]
4-21-2014 Intel/Newshound Guru Randy Koonce If it goes past the election and Maliki continues to be the Prime Minister then I am not sure how long, but it could go another 2 years because that means the President and Maliki have figured out how Iraq can survive without it. Obama doesn't want this to happen but he doesn't have the money to keep Iraq going. From now until the election the window is extremely hot. Everything I have seen in the last 24 hours says we are done. The LD's are in the banks in Iraq and are not on the streets. You will not have to sign and NDA. They have dropped the amount that it will come out at, I think between $2 and $3. It will eventually go higher.
4-21-2014 Intel/Newshound Guru Randy Koonce All banks that deal with foreign currency will be doing the exchange. You will have all kinds of time. Does the budget have to be done before the RV? No. There is nothing that has to be done before the RV. Do I believe this is going past he elections? No. We are in a really good position to RV. Everything right now is line up. The U.S., Iraq and the IMF all need to be in agreement and right now they seemed to be. We are in a very good position for before the elections. [post 1 of 2....stay tuned]
4-21-2014 Newshound Guru Aggiedad77 Article: "Central Bank allows for money transfer companies to participate currency auction" According to the CBI they are now allowing money transfer companies to actively participate in currency auctions...an action the CBI states will permanently bring stability to the exchange rate...the CBI is allowing these money transfer companies to establish direct accounts with the CBI for the implementation of procurement of foreign currency...this action should be watched to see what if any effect it has upon the auctions.
4-21-2014 Intel Guru Mnt Goat There is some minimal impact from the elections too...So this is all part of our delay...I believe that we will see the election results and then a flurry of laws will be announced in Iraq. The timing of the passing of the 2014 budget too will happen at about this time if not just prior...this budget it all done and waiting for the revaluation process to end. There will also be some announcement about the currency going international too but it will not be the main topic of the discussion in the news. It will just be a comment. The announcement of the WTO ascension will follow days later but just prior we will all be at the bank... it is all good and I am very hopeful that now this country of Iraq will be moving forward. [post 2 of 2]
4-21-2014 Intel Guru Mnt Goat ...the IMF now has and will continue to be the facilitator of the global reset process. It is not now all about USA holding it up...This hold up has been corrected and the IMF has decided last week to go ahead and move forward in the rollout process. As many know the UST have instituted a call in process where you must first make a bank appointment using an 800 number. Their numbers are not yet published to the general public but the plan right now is to have these numbers distributed next week and people at the bank at that time. [post 1 of 2....stay tuned]
4-21-2014 Newshound Guru Stryker Article Quotes: "This measure will expand special events auction of foreign currency will also contribute to the stability of the exchange rate permanently." "The Board of Directors decided to approve the money transfer companies to open accounts directly with the Central Bank of Iraq and the Iraqi dinar to the dollar carry out procurement of foreign currency." It sure looks like the CBI just may be looking to move away from the daily auctions and into more of an international way of doing business. By signing up these money transfer companies directly the CBI will have a way of selling off the petrodollars without the daily auctions. This should occur once they move to a one exchange rate system, which is the internationally standard.
4-21-2014 Newshound/Intel Guru BGG Article: "Central, (CBI) asserts its independence from the government (Maliki and CoM) and stresses that the law does not allow lends to bridge the budget deficit!!" The CBI appears to be responding to some considerable pressure by the GOI pushing for CBI “loans” to bridge their budget shortfalls. I also have a suspicion may well be in direct response to the recent “smack down” by the IMF and WB. They are telling Maliki to “BUTT OUT”…
4-20-2014 Intel Guru TNT Tony Hope everyone had a great Easter and said thanks for what's coming. Rest up and be ready.
4-20-2014 Intel/Newshound Guru Poppy3 they can pass all the laws they want to about tariffs and hcl but until some action is taken to get a value on the dinar they can't implement any of them. ACTIONS NOT WORDS IS WHAT WE ARE LOOKING FOR.
4-20-2014 Newshound Guru Millionday [We have seen many pieces fall into place in the recent weeks and days...my question is what is lacking to complete the picture? what clues are we now looking for as we scan the intel coming in?] i would say that they are wrapping up the budget and the last steps we were announced about when CBI stated they were raising the value and setting the rates now and it is being done by steps per the private banks and cbi -- they all will be done around the same time --- not that it has to be after the budget or before -- all around the same time for financial success...i go by the ink i see --- and by what the ink states -- we are waiting on these steps to get to the one that is the raise of the value and also the setting of international rates.
4-20-2014 Intel Guru Frank26 Just for the fun of it ...Based Soley on IOO (In Our Opinion) ...[Guru] DELTA and I are not taking it to end of May ...But to the 25th.vv vMay. [Is it something to do with the DFI release of may 22...?] There are three reasons why we picked 25th as an opinion ...But DFI is not one of them.
4-19-2014 Intel/Newshound Guru Poppy3 THE GOI AND OR PARLIAMENT REALLY AT THIS POINT HAVE LITTLE IF ANYTHING TO DO WITH THE RV OR THE CBI. WITH INTERUM GOVERNMENT WOULD ACTUALLY BE A GREAT TIME FOR THEM TO ACT ON THEIR OWN AND KEEP ANY PART OF THE GOVERNMENT FROM BEING ABLE TO TAKE CREDIT FOR THE RV. [post 2 of 2]
4-19-2014 Intel/Newshound Guru Poppy3 THE CBI CAN ENTER THE BIG LEAGUES AT ANYTIME THEY FEEL LIKE JUMPING IN . THEY HAVE APPROVAL TO TURN THINGS...THEY HAVE MADE SOLID INVESTMENTS AND MOVES TOWARDS THE RV FOR WEEKS NOW AND HAVE NOT STOPPED MOVING IN THE RIGHT DIRECTION. [post 1 of 2....stay tuned]
4-19-2014 Newshound Guru wmawhite I am of the opinion that the CBI is moving forward with the eventual change in status of the IQD. In other words, the 2014 budget needs the change in the IQD...but, the CBI does not need the budget.
4-19-2014 Intel Guru TNT Tony Hearing that good things are still in store for the weekend. We wait to see.
4-19-2014 Newshound Guru Kaperoni Article: "Ahrar bloc describes 3rd term for Maliki as 'Dreams' " Maliki may not be able to form a coalition to stay, but he will delay. An article was posted earlier...said it could take a year to form a new government. Let's hope not.
4-19-2014 Newshound Guru Millionday Article: "Baghdad: launched in Baghdad on Thursday, the first Arab conference for accounting and auditing in cooperation with the Arab League" so this is the advancement that will take place with the administration reform and also the economic reform. [So how long...do u think it will take from here to get into wto? Days weeks months?] the wto accession to active membership will be after their reality rate is set so i hope very soon -- with the news about the tarriff and customs meeting concerning the wto accession today it seems to look as though not long for their accession.
4-19-2014 Intel Guru DC I believe Iraq is immensely ready. I believe they are getting ready for celebrations and frankly have been on the edge of ready celebrations for many days now, at least the 15th if not before. A lot of the banks continue to distribute the lower denominations...There are some parts of the country that do not have them so it’s really confusing. All the banks that we know and talk to are very ready and are on call and are ready to go. The delays now are being measured in very short periods of time and they’re also getting harder and harder to justify, to get it done...we’re talking hour to hour, a few hours at a time...when they’re talking about the delays...not days. I am very optimistic about the next few days and I think everybody else is.
4-19-2014 Newshound Guru Kaperoni Article: "Iraq is preparing for negotiations for joining the World Trade Organization in third round" Unlikely they will get accession until the laws are in place and the currency is convertible. These are basic requirements. Wishful thinking on Iraq's part to think they could gain accession without these. Makes no sense...Parliament has to pass them laws and the GOI (Maliki) needs to stay out of the CBI for monetary reform to get done. We shall see.
4-19-2014 Intel Guru TNT Tony [via Adpet1] I do expect us to see his between now and Monday, if not before. It could come in the next hours or days. Iraq is telling their people the time to do currency reform is now... everyone is pushing for it, even the US. They are ready for it to go as soon as the last detail is completed. There have been definite delays, not for personal gain, but because if it had gone through, it would have had a negative effect on us all. I believe that this is over. They are talking about it in the past tense. We are just waiting for the announcement...I do think it could happen this weekend. There are people at the call and exchange centers right now on Good Friday and Easter weekend.
4-18-2014 Newshound Guru Millionday Article quote: "MP for the coalition of state law Salman al-Moussawi, on Thursday, for the coalition to reach agreement with the Kurds on the Law of the federal budget, And while noting that the position of the last change at the last minute, said that the law will pass in spite of political differences." [But we don't know when?] ...we do know they said they would have an emergency vote right away...this is one of the reports -- lets make sure before we bring out the party hats.
4-18-2014 Newshound/Intel Guru BGG It is my opinion - most of this back and forth over the budget is really a big "blame game" between the parties ahead of these elections. Maliki got some traction with it early - yet his opponents appear to be using his own weapon against him and it looks like he'll try and ride this "budget train" into Apr 30th.
4-18-2014 Newshound Guru Chattels [new guru] Executive Order 13303 was issued on May 22, 2003 by United States President George W. Bush to protect the Development Fund for Iraq for the rebuilding of Iraq from any legal attachments or liens. Further, it protects Iraqi oil products and interests and ownership by US persons (defined to include US corporations) from attachment as well. Executive Order 13303 also terminates sanctions specified in EO 12722, EO 12724, EO 13290, as it applies to the development fund. In effect, EO 13303 provides an extraordinarily broad legal shield for any and all contractors and mercenaries working in Iraq on behalf of US corporations in any oil related enterprise.
4-18-2014 Newshound Guru Kaperoni Article: "Central Bank: 70 trillion dinar bank deposits" This is a huge article...think about it...if the CBI's plan was to reduce the money supply they are announcing today that 70 trillion dinar sits in banks. The choice will be..loan it out or reform the currency and raise the value of the dinar. Now is the time with all this dinar out of circulation.
4-18-2014 Newshound Guru wmawhite I too bought the Dong...however, I do not believe that the VND will RV...because, Viet Nam, just like China must export large quantities to fuel their economies. In order to keep their products cheap their currency must be kept LOOOOOW. Again, Viet Nam is very similar to China. It products and export alot, IMO.
4-18-2014 Intel Guru Winalot this is from a currency dealer in Yemen...they are always accurate: "Exchange Rates Today in Iraq against the Iraqi dinar from the Iraqi Central Bank: U.S. dollars Buy - 6.9806 Sale - 7.0143." funny thing...there are several sites overseas that i check rates at...all have taken down their exchange rates, or removed the IQD. also...seems that there are 2 iraqi parliament sites!
4-18-2014 Intel Guru TerryK Talked to UST contact this afternoon everything is looking great for this week. They did tell me that the holdup is Obama he is not wanting the masses to benefit from this blessing because of what it represents. I did also here that he is purposing that the rate come out below the $3.42 and then let it rise from there. I don't know if that is true or not. So the UST is telling me that it is still in good position for it to come out tomorrow [Friday]. I know that tomorrow is Friday but we will see what happens. That is the best news I have for today.
4-18-2014 Intel/Newshound Guru Poppy3 THIS NOTICE...RECEIVED FROM VERY GOOD FRIEND--directly from Iraqi > Iraq moved to 'caretaker' government from today until after the elections. He feels nothing of importance will happen until GOI returns. However CBI can still do it if they want but he says very unlikely in his opinion. LIKE I HAVE SAID MANY TIMES, EVERYONE HAS AN OPINION AND ONLY TIME WILL TELL THE FACTS. HOWEVER MEMBERS OF FINANCE COMMITTEE AND PARLIAMENT AND GOI LEADERS HAVE SAID THE CBI NEEDS TO RV PRIOR TO THE ELECTIONS.
4-18-2014 Intel Guru Mnt Goat So this news today from Iraq is very special since it coincides with what we are now hearing from the IMF on progress made at the meeting this past week in DC. I am now hearing they have a target end date of April 30 to complete the current phase of the global reset process. They can now move forward. The stalemate between the IMF and the USA is over! We are so close to the final activation of these currency rate changes at the banks I can hardly stand the excitement. I have watched the contact in the IMF now (once again) notify Iraq that these changes were about to be effective and that their currency was about to go international. The RV train is moving once again. [post 3 of 3]
4-18-2014 Intel Guru Mnt Goat Significant Recent Events: First I have found out the USA and the IMF have reached a mutual decision on how to handle these reforms, in particular the voting rights issues...I have been assured the issue is no longer a problem for the process to move forward. Secondly, another reason for the delay has been the release of the new UST notes to the general public in USA. These notes are now sitting in the USA banks ready to be disseminated. The plan is now to carryout the original plan with minor change and will more forward. Thirdly I have been told today also the Iraq GOI has reached an agreement with the Kurds on the budget. [post 2 of 3....stay tuned]
4-18-2014 Intel Guru Mnt Goat I...just got off the phone with my IMF contact. Today is early Friday morning and the news could not get any better. Let me first remind you...that the passing of the Iraq 2014 budget is dependent on the IQD currency revaluation announcement and not the other way around. In other words watch for the GCR and you will then see the announcement of passing or the high likelihood of the Iraq budget passing in the near future. The two would coincide nicely. Watch for one and you would see the other. [post 1 of 3....stay tuned]
4-18-2014 Newshound Guru wmawhite IMO, the statement by the MoF last year that the IQD will experience a dramatic change in value prior to June 2014 and the expiration of EO 13303 on 22 May 2014 has alot to do with the IQD than many realize. ...even with the stalemate in Erbil and the hold up with the budget...the CBI has been lights out...speeding forward. They wait on no one. [post 2 of 2]
4-18-2014 Newshound Guru wmawhite When the time is right the CBI in conjunction with the IMF and WB will change the status of the IQD. They will not wait on anyone or anything IF the time is right. [no way was M [Maliki] going to gain politically from this event.] concur...M [Maliki] is old news. remember, it could take many months before the new government is formed. However, IMO, if the time is right, the CBI will move forward with the IQD. [post 1 of 2....stay tuned]
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