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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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7-30-2015 Intel Guru Mnt Goat This week I referenced that a window for a possible RV opportunity was here and everything looked fantastic. This window remains the same and I have to say that if we do not see some change in the currency status this time I will be amazed and totally baffled over this saga. We also know this event has to happen soon since joining the WTO, implementing the tariffs. customs and sales tax along with the issuance of the international bond drive almost speaks for itself. Personally I am hearing the rate is expected to come out very low probably still within 1000 to 1100 range and them in about 4-7 days a full blown RV is designed in the process. I suspect their intent is to sell bonds at this international rate to begin with around Aug 2nd , then a week or two roll out a significantly higher new rate to the international exchanges worldwide. What they plan to do is sell bonds at the very low rate and let the market drive it for about 7-14 days then adjust it.
7-30-2015 Newshound Guru wmawhite [the 1095 is for the bonds not the rv exchange right or not?] We and the world has been informed by the CBI that they are selling bonds to the retail market (outside of Iraq) and at a fixed RATE...fixed RATE...of 1095 IQD. This we know...This is important...HUGE step...what we don't know is what is there next step. We all have opinions. And some of those opinions come from what they have told us they want done immediately...everything the CBI has announced in official letterhead they have done. Although the 1095 is a small move from 1166 it is very significant for the IQD to move outside of Iraq...HUGE! [these next few days should be very exciting to see!] Yes...this is what we have wanted to see at a minimum. [post 2 of 2]
7-30-2015 Newshound Guru wmawhite That CBI announcement also stated that they were marketing those bonds to "investors abroard." ...Abroard! and at an exact exchange rate of 1095 IQD. [Is 1095 an entrance rate to the world markets?] Possibly...but all we want is for the IQD to go outside of Iraq...become an exchange rate that other currencies can exchange with. [if they do enter at 1095, a float is inevitable IMO.] Not necessarily so. Remember, the CBI can not delete the three zeros from the current program rate of 1166...it needs an exchange rate. [can they just adjust it?] Yes, the CBI by law owns the cuurency....the GOI just uses it. The CBI can do whatever they feel is best for the currency. [didnt they say they wanted to be comparable to Kuwait's rate?] Yes that is true...they still want to do that. [post 1 of 2....stay tuned]
7-30-2015 Intel/Newshound Guru Poppy3 THE WORLD BANK GIVING THE ULTIMATUM FOR A DEADLINE OF 2 MONTHS OR 60 DAYS --- WHAT THAT ARTICLE SAYS TO ME IS THERE ARE SO MANY THINGS THAT REQUIRE THE FIRST THING TO BE DONE FIRST TO COMPLETE THINGS BEFORE THAT DEADLINE...MEANING THEY HAVE TO ASSIGN A NEW RATE BEFORE ALL THESE OTHER THINGS THAT APPEAR NOW TO BE REQUIRED TO BE COMPLETED...LIKE BOND SALES, BUDGET FUNDED, PAYING THE PEOPLE...THAT BY THE WAY HAVE ALREADY STARTED PROTESTING...AND A LONG LIST OF OTHER REQUIREMENTS THAT CAN'T BE COMPLETED WITHOUT A RATE. TIME WILL TELL BUT THE PRESSURE IS ON HARDER THAN EVER AND IT IS OBVIOUS.
7-30-2015 Newshound Guru Kaperoni 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," Looks like the 50k in a week or so, and then early 2016 the 100k. These will set the stage to begin to raise the value by reducing the physical note count from 4 billion notes to 1.8 billion notes or about. As well, it will help citizens by reducing the amount of notes they carry. Since this is the decision, it is good to see it happening...progress.
7-30-2015 Intel Guru Frank26 The dinar's value is supported by the existence of Iraq's Borders because without it...The dinar can remain at 1166... And will. It does not directly change it for it cannot but the T and T's (Taxes and Tarrifs) will protect the dinar and her new value when DRS [Dr. Shabibi] decides to lift the three zeros.
7-30-2015 Intel/Newshound Guru tman23 Both Baghdad and Kurdistan declared a public holiday for the next 4 days because of the heat wave...What makes this interesting is the forecast for the next 14 days is no different... So, I guess we will see HOW they open the month of August.
7-30-2015 Intel/Newshound Guru Poppy3 Press Release: "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." ...DR SHABIBI STATED THE TARIFFS WOULDNT EVEN FUND THEMSELVES AND THE THREE THOUSAND WORKERS IT WILL TAKE TO COLLECT IT WITHOUT a rate change? SOUNDS LIKE EITHER SOME DEAL HAS BEEN MADE OR ITS ONLY A PARTIAL TARIFF OR WHO KNOWS WHAT UNLESS WE SEE A RATE CHANGE. TIME WILL TELL AND EITHER WAY WE WILL BENEFIT FROM THE NEW RATE THAT IS COMING.
7-30-2015 Newshound Guru tlm724 Quote: "General Administration of Customs confirmed its readiness to implement the pricing tariff law on imports through border ports of the country, to be implemented from next Saturday..." so there we have it right from the General Administration of Customs that the tariffs will begin on August 1st in full force. the question remains will they tax the people at 1166 dinars per dollar or will they increase the purchasing power of the dinar to offset the burden on the poor? there is much riding on their decisions going forward. ...the US Treasury is there, the IMF is there and the UN and World Bank...big meetings going on as we speak with the US Treasury etc. I am really excited!
7-30-2015 Newshound/Comedian Guru Mountainman Article: "Iraqi Government Declares 4-Day Holiday Over Severe Heatwave" Quote: "Iraq's Council of Ministers has declared a four-day mandatory holiday beginning Thursday as temperatures are set to soar above 50 degrees Celsius (123 degrees Fahrenheit)." You see The MONETARY REFORM is sooo HOT.....They have to move that Rate for Liquidities sake!!! lol
7-30-2015 Newshound Guru Adam Montana [Tell me your opinion on the dynamics of this administrations deal with Iran...Can this dynamics change delay or torpedo the RV along the CBI's previously stated targets for revalued currency?] The deal with Iran is definitely going to have an impact...In my estimation, this should push Baghdad to move quicker, which would also push the need to revise the value of the currency.
7-30-2015 Newshound Guru sczin11 I AM NOT AN ECONOMICS MASTER, BUT I BELIEVE THIS IS MORE A MATHEMATICAL EQUATION, AND GOOD FINANCIAL ADVISING...THE MATHEMATICS IS HOW WOULD THERE BE ENOUGH DINAR IN CIRCULATION, WITHOUT RUNNING THE PRINTING PRESSES 24/7, TO COVER TAXES AT THE CURRENT EXCHANGE RATE? THE FINANCIAL SIDE OF THE EQUATION, IS THAT THE COSTS OF GOODS WILL BE GOING UP, THUS LOWERING THE PER CAPITA LEVEL OF LIVING AND PUSHING THE AVERAGE IRAQI IN A SITUATION LOWER THEN TODAY, IF THAT IS EVEN REMOTELY POSSIBLE. THIS IS A CRITICAL TIME FOLKS... [post 2 of 2]
7-30-2015 Newshound Guru sczin11 ...BASED ON WHAT I HAVE SEEN TODAY, WITH ONE WORK DAY BEFORE THE 1ST, THAT BEING TOMORROW [THURSDAY], I WILL GO OUT ON A LIMB AND PREDICT THE CUSTOMS & TARIFFS ... WILL BE IMPLEMENTED AS PLANNED...SATURDAY AUGUST 1, 2015. [If that is the case, will they HAVE to HAVE an RV by then?] WILL PRIME MINISTER ABADI, ALLOW THE PEOPLE OF IRAQ TO SUFFER FURTHER? CERTAINLY WAS NOT PART OF HIS PLATFORM...ECONOMIC REFORM CAN NOT EXIST WITHOUT MONETARY REFORM... CAN PM ABADI ALLOW THE COSTS OF GOODS TO INCREASE, AS OPPOSED TO DECREASE? [post 1 of 2....stay tuned]
7-30-2015 Intel/Newshound Guru tman23 [If the World Bank has imposed a 60-day deadline on Iraq, do any of you seeing Iraq trying at all to comply with what they want? Have they approached compliance at all? Are they even talking about it?] The FED COURT ACT... Unless they get this done, all other laws are in question...It appears that they are ready to vote by majority even if the Kurds boycott the vote... They are in dire straits and by the words of the World Bank, time is of the essence...a deadline was placed.
7-30-2015 Newshound Guru Kaperoni Article: "Securities available to the public raise the credit rating of Iraq to facilitate external borrowing" To me, it seems clear the purpose of these bonds is to get the dinar out of the mattresses and pillows and to the banks to buy these guaranteed bonds payable in dollars in 12 months. As a result, the banks get the dinar to circulate and relieve the liquidity crisis as stated..."to provide financial liquidity to limit the financial crisis". I don’t see the CBI removing dinar or reducing the money supply with these bonds.
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