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10-31-2014 Newshound Guru Millionday [what is better for the Iraqs to do , come out with a higher rate or lower rate to control their inflation?] HIGHER. IN THE 90`S THE RATE WAS AROUND 3.22 BUT WE HAVE NO INFO ON THE RATE OR THE DATE. I DO NOT BELIEVE THEY WILL ANNOUNCE THE RATE CHANGE -- IT WILL JUST BE THERE WHEN THE INTERNATIONAL RATES CHANGE -- THEY JUST ANNOUNCED AS WELL FROM CBI THAT THE BANKS HAVE BEEN MAILING OUT THE VISA BANKING CARDS AND THE SMART CARDS ARE OUT AND READY FOR THE REST OF PEOPLE AS WELL. WE ALSO SEE THAT THE REST OF THE STRATEGIC FRAMEWORK WILL BE COMPLETED AND OF COURSE WHAT IS LEFT IS THE MOVE TO A MARKET ECONOMY AND ALL THAT ENTAILS.
10-31-2014 Newshound/Intel Guru BGG I'm not saying this is happening now - I am saying once you see Fils - they will have to be worth more. Period.
10-30-2014 Newshound Guru Adam Montana [...how many laws can parliament vote on at a time? Is it possible that they could act on 2 or 3 laws in the same day, or do they have to take a breather between each of them. And how much time does it take for it to be entered in the Gazette after it is approved.] Theoretically, they can vote and pass as many as they want in a single session - there is no law preventing this. Regarding getting it in the Gazette, I have it on good authority that once these particular items are done and there is an official change in the rate, we will see it published in less than 24 hours.
10-31-2014 Newshound Guru OOTW no new laws at the gazette...we wait. I'm afraid IMHO there's much more to be done...we need some laws and to re order the judicial food chain., that's just my opinion...it will be a while yet me thinks.
10-31-2014 Intel/Newshound Guru Poppy3 WHY THE POSSIBLE DELAY THAT IS BEING DEALT WITH EVERY HOUR RIGHT NOW---THEY HAVE NOT PASSED THE BUDGET BECAUSE UNTIL THEY ANNOUNCE A NEW RATE THEY DON'T HAVE FUNDS TO BACK THE BUDGET. THEIR CONSTITUTION WILL NOT ALLOW THEM TO USE THE RESERVES. THEY HAVE TO REACH AN AGREEMENT ON THE RATE AND STEP BY STEP PROCESS TO USE WHEN THE RATE APPEARS TO FUNNEL THE FUNDING TO THE GOI TO FUND THE 2014 BUDGET. AGREEMENTS CAN BE COMPLETED ANYTIME. STAND BY FOR VICTORY. THIS IS WHY NEWS IS SLOW BUT ALSO WHY ITS ALL PROGRESSIVE AND FINANCE DIRECTED.
10-31-2014 Newshound Guru Enorrste The IMF was quite clear in its recommendation to Iraq: move to a "free float" exchange regime. No where has either the IMF or the CBI talked about a managed float. Therefore, I believe that once Iraq moves to Article 8 and opens the door for the dinar worldwide that adding or removing large notes will be minor in comparison to the basic speculative demand worldwide. Therefore, I see the currency rising quickly... [post 2 of 2]
10-31-2014 Newshound Guru Enorrste While it is true that basic supply and demand for currency within any given economy (Iraq, for instance) can have an affect on the overall value of that currency, there is another factor that is much more important once Iraq moves to Article 8 and the currency is recognized as a valid world currency. That factor is speculation. Speculation in world markets is the primary force that drives its value. Other forces are supply and demand, economic growth, interest rates, and a country's balance of payments situation. It will be speculation, however, that will be the driving force in the case of the dinar, in my opinion. [post 1 of 2....stay tuned]
10-31-2014 Newshound Guru Millionday Article quote: "Nora Albjara member of the committee of economy and investment in the House of Representatives revealed that the central bank completed its preparations for the issuance of metal coins of seven small groups, in conjunction with the implementation of the project to delete the three zeroes from the paper currency is currently in circulation" CBI IS DONE WITH ALL 7 COINS THEY ARE GOING TO USE AND READY TO RELEASE THEM AND REMOVE THE 3 ZERO CURRENCY ACCORDING TO THIS ANNOUNCEMENT. IT LOOKS LIKE THEY ARE CHANGING THE RATE. WE WILL HAVE TO WAIT UNTIL WE SEE IT -- BUT WHAT PURPOSE WOULD THE COINS AND LOWER DENOMS BE? YESTERDAY THEY ANNOUNCED THAT THEY ARE LAUNCHING THE GLOBAL MARKET LINK TO GLOBAL BANKS AS WELL. KNOW THIS IS HUGE HUGE NEWS. YOU SHOULD BE DANCING IN THE STREETS...
10-31-2014 Intel Guru Frank26 [via BulldogFord65] On Iraqia TV, the CBI announced the monetary reform is done and they are ready to release coins, complete with the Kurdish language; however there are still some things being done, the bank notes with the 3 zeros with the Kurdish language are being distributed. IMO, the coins are utterly worthless at 1166, the only way they have value is if the rate is increased. IMO, it will come out at 1:1, and we have seen the 0.86 rate being held as a test. The increase of the rate may be gradual over a couple of years, and when the float hits a couple of dollars, the rate can take a larger increase. IMO, the rate was released on Sunday as an algorithm, and the evidence is that the Qi card has been used in Iraq.
10-31-2014 Intel/Newshound Guru Poppy3 Quote: "Estimate the amended exchange rate of the Iraqi dinar to be used in technical and economical feasibility studies and for (1.134) dollar per dinar. This price should be approved for 3 years until re-appreciation by the competent authorities." THE ONLY PROBLEM WITH THAT RATE IS IT DOESNT HAVE ENOUGH VALUE FOR THE PEOPLE OF IRAQ TO GAIN CONFIDENCE IN THEIR DINAR TO STOP USING THE USD. FURTHERMORE IT IS NOT NEAR ENOUGH TO FULFILL THE BUDGET OR TO FUND THE HCL . THESE THREE THINGS ALONE TELLS ME IT WILL BE HIGHER THAN ONE TO ONE. I ALSO POINT OUT ANYONE INVOLVED OR IN THE AUTHORITY TO MAKE THAT CHANGE HAS NEVER SAID A WORD ABOUT 1 TO 1 OR A LOW RATE PERIOD. ONLY PEOPLE MAKING THEIR SUGGESTIONS HAVE ALLUDED TO 1 TO 1 POSSIBILITIES.
10-31-2014 Intel Guru Delta [via BulldogFord65] ...looking at the ISX, they have changed to Xstream, yet as of today they are not trading internationally; however, as of Oct 24, the Arab Federation of Exchange does have the ISX and IQD appearing for the first time – with no rate; everyone is waiting for the rate. IMO, the rate has to change before any implementation of their plans. Representative of the finance committee related that the rate will increase gradually so as not to confuse the Iraqi citizens. IMO, the rate will come out around $0.25 - $0.35 and gradually increase...the CBI is saying they are ready to go now, not a year or two years from now; no matter the rate that it comes out at, it will increase rapidly...within months possibly, and the lower denom coins will roll out in conjunction with the lifting of the 3 zeros – this means the VALUE must increase. [post 2 of 2]
10-31-2014 Intel Guru Delta the information from the CBI which was announced on Iraqia TV; read in Arabic first, and then translated that the CBI is about to introduce the coins, there are 7 coins, and likely the 1 and 2 dinar coins will come out first; IMO, the CBI will gradually roll out the coins as the rate increases. On Iraqia TV, the CBI said they are ready to delete the 3 zeros; the coins are at banks ready for release; the 5 trillion in new notes with the Kurdish language are ready for distribution. ...it will not take 5 years to raise the VALUE, they will take 5 years to pull in the 3 zero CURRENCY; it will still be legal tender, but will be phased out, replaced with the lower denoms as the rate increases. IMO, the rate needs to be on par or higher than Saudi Arabia’s riyal (SAR), and it’s possible, IMO, to see the rate come out at any time. [post 1 of 2....stay tuned]
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10-30-2014 Newshound Guru Millionday ...CBI HAS ANNOUNCED THIS WEEK THAT THEY ARE READY TO MOVE FORWARD WITH THE MONETARY POLICY AND REFORMS IN PLACE INCLUDING BANKING REFORMS AND TODAY THEY HAVE THE 7 DENOMS OF COINS READY AND ALSO THE SMALL DENOMS AND STATED THEY ARE IMPLEMENTING THE REMOVAL OF THE THREE ZERO CURRENCY PUT ON THE STREETS 11 YEARS AGO --- THIS SHOULD TAKE ABOUT 4 TO 5 YEARS BEFORE ALL OLD 50S AND SOME OTHER DENOMS TO MAKE IT OFF THE STREETS ENTIRELY SO THIS MEANS THAT THEY EXPECT IT TO TAKE A WHILE FOR ALL TO BE EXCHANGED BUT THIS IS NOT OUR REGULATIONS OR TIMELINE -- THAT IS NOT RELEASED YEY [Back to the old question: Will there be a time limit to turn in our DINAR? How much time do you think we will have to turn in our DINAR?] I WONT GUESS HUN BUT ALL THE REGULATIONS WILL BE GIVEN TO US WHEN THE INTERNATIONAL RATES ARE RELEASED TO THE MARKET...
10-30-2014 Newshound Guru Kaperoni Article: "A member of the parliamentary Balaguetsadah: the project to delete the zeros is ready and needs to be applied five years" ...the new timeline of 5 years may certainly imply a deal was made to manage float it now over that timeline to...1. start the process so a market economy can start. 2. provide adequate time to [stabilize] the country and remove ISIL. Time was clearly wasted. Let's all hope they are on the fast track now to correct some of this.
10-30-2014 Intel Guru Okie_Oil_Man GOOD THURSDAY EVENING AMERICA, SHIPS AT SEA AND ALL OUR WORLD WIDE FRIENDS...TODAY AS YOU WILL FIND OUT IN THE FUTURE (IF YOUR PRIVIED) THE PARAMOUNT SIGNIFICANCE OF THE MAGNITUDE OF ACCOMPLISHMENTS MADE ON ALL OUR BEHALF LAST NIGHT AND TODAY. IT PRESENTLY APPEARS THAT OUR LANDING IS VERY IMMINENT WHEREAS BEFORE WE JUST GOT A WAVE OFF AND HAD TO CIRCLE AROUND AGAIN DUE TO CHANGES MADE IN PROTOCOLS AND PROCEDURES...BARRING ANY CHANGES I HOPE TO ATTEMPT ANOTHER APPROACH IN SHORT ORDER. I HAVE NOT BEEN GIVEN LANDING INSTRUCTIONS BUT I HAVE CROSSED THE OUTER MARKER. LETS PRAY A.T.C. DOESN'T CHANGE THEIR MIND TONIGHT AS THINGS LOOK EXTREMELY PROMISING PRESENTLY.--NUFF SAID
10-30-2014 Intel/Newshound Guru tman23 Many Iraqi's are displaced outside the country and unable to collect their pensions etc...They are signed up to be paid on the Qi card but the card only works in Iraq ...Qi is telling all customers that "by the end of the year" the card will be able to be used at ATM's over 500,000 terminals world wide. NOW give this some thought....... If the Iraqi is paid say 1,600,000 dinars per month and Iraq RV's this person would be cleaning out ATM's in Turkey , Jordan etc..... Not to mention a major part of the population would leave Iraq for safe havens...If they remove the zeros first then go 1-1 not much changes...The debate in Parliment has been a deficeit of 50 billion and the argument is to cut it down to 14% (12 billion)...The interesting part is these figures 12 billion would be the amount including raises which figures in to a 1-1...and 50 billion figures close to 3.4...Some may argue that these figures have nothing to do with RV or CBI...But it works!
10-30-2014 Newshound Guru Adam Montana [It has been said that no RV can happen until the 2015 budget is passed? Do you agree with this?] I agree only because it is possible to get both things done at the same time. HOWEVER, it's important to understand that if they pass a budget today and RV tomorrow, we would likely see a NEW budget the following day...but honestly, at that point...who cares?! [What are your contacts saying about HCL is complete or not?]
It is not officially complete yet - but that's not to say we won't see it in the news today or tomorrow.
10-30-2014 Newshound Guru Millionday Article quote: "Concluded yesterday evening events Baghdad International Fair Bdorth 41 amid the presence of a striking and distinct different companies represented twenty Arab and foreign countries." THE REASON THEY WERE AT THE TRADE EXPO/FAIR WAS TO DEFINE ALL THEY OFFER FOR THE INTERNATIONAL COMPANIES TO COME IN AND USE THEIR BANKING TO BOOST REVENUES -- THEY ALSO ARE NOW WORKING TO MAIL OUT VISAS TO ALL THE IRAQI CITIZENS AND BANK ACCOUNT HOLDERS SO THEY CAN USE THEM IN ALL GLOBAL COUNTRIES OF THE WORLD AND EXCHANGE AT AN INTERNATIONAL RATE. THE ONLY WAY THIS IS POSSIBLE IS WITH EXCHANGE RATES BEING RELEASED AND THEY HAVE TO BE REALITY RATES...ALSO WITH INTERNATIONAL ACCPETANCE.
10-30-2014 Newshound Guru Kaperoni ...the spread is lowering again...the CBI has it down to 1202 which is pretty much top of compliance...2%, but they must hold for 90 days and the CBI has been pretty good since late Aug around 1202-1205 so by end of year, they may be at a point where the IMF would allow the transition and coincidently, the CBI will have replaced a fair share of the worn out dinar...sounds like solid ground to me.
10-30-2014 Newshound Guru Adam Montana [How can a country even think of revaluing their currency when there is such disruption within their borders? Is it naïve to think of an immanent RV could happen with the HCL (completion) and the filling of parliament with all the disruption.] IS was definitely a major consideration a month ago - today, not so much. The disruption within their borders may seem like a major deal to us, but for them it's just a way of life. It was no different before the value plummeted to worse than 2000:1, it has already doubled in value since that time in spite of the continued turbulence, and I see no reason to think that they will not continue to increase the value particularly once the HCL and Budget are in place.
10-30-2014 Intel/Newshound Guru Poppy3 TRY AND TELL ALL THE COUNTRIES THAT TOOK DINAR FOR WAR DEBT THAT THEY ARE GOING TO DROP THE 3 ZEROS' FROM THEIR CURRENCIES AND JUST GIVE THEM $25.00 FOR THEIR $25000.00 NOTES...THE WAR WOULD START OVER.
10-30-2014 Newshound Guru Adam Montana [...what you think about the VND doing anything in conjunction With dinar? Or is Vietnam likely to do something on there own?] I think the idea stems from the talk of a "Global Currency Reset". I'm not going to say a GCR is impossible, but I will say it is highly unlikely and the IQD will be revalued based on the rate that the CBI feels it can successfully sustain... which has absolutely nothing to do with the VND. So, to answer your question - nope, the VND and IQD will not be tied together in a change of value.
10-30-2014 Intel Gurus Delta & Frank26 URGENT FROM IRAQIA TV: CBI IS PREPARING TO ISSUE SEVEN SMALL COINS. IT IS IMPOSSIBLE for fils (coins) and LD's (Lower Denominations) to be used at a program rate of 1166 because the currency value would be a negative number. The CBI would first have to introduce a higher rate and have the laws to do this MR via the CBI. AND...The 000's would be lifted in conjunction (at the same time )...In order for the TRUE VALUE to be exposed.
10-30-2014 Intel/Newshound Guru tman23 I am 99.9% positive that Iraq is going to be international with their currency before the end of the year...And a conundrum they face with declining oil prices is a 1-1 revaluation does absolutely nothing for their global import purchasing power. I do believe Nov 3rd -4th we will hear an announcement out of Iraq and it will show some type of monetary shift.
10-30-2014 Newshound Guru Adam Montana [ I read an article today that stated Iraq would use a 1-dinar note which consisted of 1000 old dinars and a 5-dinar note which consisted of 5000 old dinars. they did state it was a "lop". If this is true, what does this mean for our value?] That situation is indeed a "lop", which is a 0-sum event BUT would cost the country of Iraq a LOT of money... I just don't see it happening at this time.
10-30-2014 Intel Guru TD Keep in mind once Iraq enters the international marketplace it is subject to domestic and international market forces which can allow a rise or fall in a country's rate. All currencies are pegged against each other due to their "strength" and "weaknesses". Any kind of "bad news" (market jitters) can put pressure on the rate as well... I wholeheartedly disagree that it will be pegged anytime soon to the dollar on equal par (1-1). It's not sound economics for a country in turmoil trying to find it's identity to take such a gamble and devastate it's economy. What the LOP does show us is it eliminates the rumors of 10,000, 100,000 % (or more) return on investment as some have deemed as "probable' and "likely to occur:". IT WILL NOT HAPPEN. [See Guru Breitling's post from 10-29-2014 and Guru Adam Montanta's 10-30-2014 post for a different take on this article] [post 2 of 2]
10-30-2014 Intel Guru TD [So TD you are saying with great certainty that next year we will see a LOP, are you also saying there will be no rate increase?] No, I am not. I'm now certain as I could ever be that the Abadi administration is on board with the LOP. Recent articles have been backing up their stand going into 2015 and the 4 year time limit they've set out as a goal to complete currency reform. The article (the other day) [See Guru Breitling's different take on this article on 10-29-2014] CLEARLY laid out their intent to remove the zeros FROM the notes themselves which was never (that I have seen before) so EXPLICITLY spelled out even citing examples, i.e 5 dinars = 5,000 (old dinars), etc. It is very true that through the history of this endeavor some dinarians have already seen gains of 20% or more. Can we realistically see another 10-20% gain by them eventually raising their citizens purchasing power and a gain for us investors: ABSOLUTELY!! ( AND I CERTAINLY HOPE SO !!) [post 1 of 2....stay tuned]
10-30-2014 Newshound Guru Millionday ...PARLIAMENT AND THEIR AGENDA TOMORROW [THURSDAY] -- THEY WILL BE ADDRESSING THE BUDGETS FOR ONE THING AND HOSTING ABADI AND FINANCE MINISTERS. THE MINISTER OF PLANNING WILL BE THERE AS WELL AND WILL BE PART OF THE WORK ON THE FINANCIAL PROGRESS. ...WE SHOULD EXPECT THE COMPLETION OF THE BUDGET WITHIN DAYS AND ALSO THE HEADS OF ALL COMMITTEES IN PLACE FOR THE MOVE ON DEVELOPMENT. WE HAVE A DEADLINE FOR THE PLACEMENT OF THE COMMITTEE HEADS -- THURSDAY...
10-30-2014 Newshound Guru Adam Montana [ I have not seen anything about Iraq going to Article VIII. We have read that the ISX was to go live on Oct. 26th. As long as they are LIVE, don't they need to release a REAL RATE?] The "real" rate at this time is 1166:1. Whether it changes or not is up to the CBI, not Article X or anything else.
10-30-2014 Intel Guru Mnt Goat Also there are two articles published by the Iraq finance committee today that they are now going to postpone the RV for yet another 5 years. I find this terribly hard to believe and this message today has to be smoke and mirrors just before they pull this RV trigger. They did the same strategy just before the Kuwait dinar revalued and I believe they are doing it now with Iraq. My contacts are also all still saying possibly this weekend or prior is an excellent window to see the RV. I believe we are in a rare opportunity and window like never before. In the coming days we should expect the RV. [post 3 of 3]
10-30-2014 Intel Guru Mnt Goat Iraqi progress has been moving forward but still no RV. However I am told there is a definite completion target for Oct 31st and/or the coming days ahead. There is also rumor it may be shifting to yet another window of mid November for RV completion. I take this just as a rumor for now. I am hearing from Iraq CBI and the USA contacts that the needed reforms are all done to satisfaction of everyone and all the parties. I am trying to verify this with some of my other sources just to make sure. I am hearing there is absolutely no holdup. There is a very good window for the RV coming up this weekend. I do not like to predict dates but this is what I am now hearing. It is coming across to me very strong and clear. [post 2 of 3....stay tuned]
10-30-2014 Intel Guru Mnt Goat The budget did not make it to parliament for the Tuesday 10/28 session as promised. The reading of the bill was taken off the agenda. We were not given a firm new date. The needed changes were not yet ready. I am hearing the budget will be ready and will be sent to parliament early next week and will be on the agenda at that time in the next session. The budget is dependent on the RV and the RV is not dependent on the Budget being opened. The RV will happen even if the budget is not ready. Besides, my contacts are now telling me it too is all done and has been read twice and voted on. [post 1 of 3....stay tuned]
10-29-2014 Newshound Guru Kaperoni Article: "A member of the parliamentary Balaguetsadah: the project to delete the zeros is ready and needs to be applied five years" One thing is certain, you do no redenominate over 5 years. ...the market economy will not budge if they do not make monetary reform and open the banking system. That being said, we know the urgency for a market economy in Iraq. So, we can make a reasonable assumption that it will start soon. IMO, the key will be after the CBI feels they have replaced a good number the existing notes with the new "more secure" notes (CBI stated this will be done by end of year). This will give them solid ground to stand on during the transition process (exit Article XIV and move to Article VIII and a new Exchange Regime). And of course parliament must do its part...the laws. It looks to me the CBI is doing everything they possibly can to make this a "orderly exit" and transition. Quote: "calling: the central bank to speed up the issuance of these new currencies in preparation for the implementation of the project to delete the three zeroes from the currency" The replacement of the existing notes is a prerequisite!
10-29-2014 Intel Guru TNT Tony Over the weekend, Iraq did ask for an extension to pass some laws they thought they needed. [Do you think the negotiations are finished?] I think they’ve finished. The banks must believe it, or they wouldn’t be bringing all these people into the banks and walking them through the process. Banks that haven’t been engaged for months have been bringing their people back in. [Will we be at the bank this week?] I never thought we’d get to this week because I know we were supposed to be in the banks last Thursday! The banks had people in, and Iraq told their people this is it – last week! I still think the weekend makes sense, but they could do anything at this point. Everyone is gearing up for now, but they could drag it out for another week, I don’t know. The rate has gone back to $3+, though we don’t’ know for sure where that will come out. [Do you really think we are there now?] Yes, the amount of preparation that’s gone on in the last 48 hours shows that something big is going on.
10-29-2014 Intel Guru DC In the US, everybody...is on blackout in the UST, IMF, law enforcement, in Congressional advisory positions, all the rest – everyone is in a high, intense level of readiness. They are not doing that for fun or because this is weeks off. The banks are on super-standby. [Could this possibly come out in the middle of the night?] Many believe it will come out 2 - 5am. Another large contingent of bankers prefers middle of the day. They have nearly done it many, many times – in both time frames. [Do you really think it will come before this weekend?] I think everyone is cued up for this to go before the weekend, but I get nervous about giving exact times. However, it doesn’t make sense to me that people have been called in and then this doesn’t happen for five or six days. We strongly believe that everyone is on lock down and blackout because they are ready – bankers, law enforcement, security and all the rest. Iraq is extremely ready to get this done. [post 2 of 2]
10-29-2014 Intel Guru DC [via Adept1] Iraq is very ready with great results from their business conferences and the resulting contracts, which are huge. In parliament they had an emergency session to finalize the last laws the US wanted at the last minute. Everything is done. The 2015 Budget is still not 100% done, but we’re not waiting on that either. Most of the world had a rate of $3.58 while the US had $1.18, and now we understand that has been changed back to $3.58 last night. They were using it as a negotiation, as suspected... However, it is just possible that it could come out at $1.18, so have a plan for that, too, just in case. The contract rates are still there, and at least we will have a fighting chance at those like everyone else. The dong, rupiah and zim still have rates attached, but I’m not supposed to say what baskets they are in. [post 1 of 2....stay tuned]
10-2-2014 Newshound Guru Breitling [Referencing Guru TD's controversial post from 10-28-2014] ...So why is someone questioning if they are reducing the notes out of the marketplace? Bull crap they've been doing that for 2 years. There is no reason to pull dinar from the marketplace unless they were going to add value. They were saying what they were going to do and here we are. It was an innocent mistake…I'm not going to beat anybody up. The CBI is telling the whole world what's happening…2 years of evidence…They are getting down to 1 billion notes. What they told everybody…they are going to have the currencies coexist for 3 years. I do know this…people laughed at the ISX…people who did it correctly made fortunes. Since I've got in the dinar…26%. [Post 2 of 2]
10-29-2014 Newshound Guru Adam Montana [I've read a lot of articles about the deleting 3 zeros project...is it this delete 3 zeros project is the RV we're waiting? Or the IQD will RV 1st then they will proceed with the deleting 3 zeros? Because if I'm not mistaken, I have read the news about the Iraqis want to proceed with the approval of HCL first then the budget, which means the HCL will be approved within a few days. So, is it possible to say that if HCL is approved, the IQD will only RV = delete 3 zeros next year?] Regarding the "deleting the 0's", one of two things will happen. 1, they delete the 0's and issue new currency with a mandatory "trade in" of the current notes. If that happens, we don't lose anything, nor do we gain until the value increases...but in that case, we're probably only going to see a 2-3X return. OR 2, they don't delete the 0's and they raise the value on all notes while simultaneously introducing lower denominations. This gives us a much more likely high rate of return on the IQDs we hold, and is a very possible reality especially if the HCL and the Budget are passed as you outlined. In my opinion, scenario 2 is more likely and the "delete the 0's" articles can be ignored at this time.
10-29-2014 Newshound Guru Enorrste Article: "A member of the parliamentary Balaguetsadah: the project to delete the zeros is ready and needs to be applied five years" One article clearly states that they will start the process at the "beginning of 2015." In my view this means that they will begin the float then, and move to article 8 of the IMF. I also personally believe that the currency will rise in value much faster than many people assume, including the CBI, which is giving itself a huge "window" of five years. I see the currency rising consistently until it reaches parity, which could well be over $3, within a year or two at most.
10-29-2014 Newshound Guru Adam Montana Here's the latest: 1. ISIS still not successful in taking Kobane. Between the additional ground forces and the continued air strikes against ISIS in Kobane, I don't expect the terrorists to hold out too much longer. 2. Budget - The budget is still stalled, but if you've paid attention to the news over the last week you probably noticed that a LOT is being brought up about the HCL...in fact, it looks like the two are tied together. Meaning when we see the budget passed, it's possible that the HCL will move simultaneously, and that could be the best possible thing in the world for this venture! *fingers crossed*. 3. GOI - I'm still feeling positive about the new GOI. Abadi is moving things in the right direction, we're hearing less and less about Maliki (just like I figured would happen ), and back to the budget/HCL - things are lining up perfectly.
10-29-2014 Newshound Guru Breitling There are a lot of articles coming out about 2015 and raising the value and a statement someone made. "Deletion of he zeros…Iraq is the latest Arab country to decide to delete the zeros from its currency." [Referencing Intel Guru TD's controversial post from 10-28-2014… NO DISPUTE ANY LONGER WHETHER OR NOT IT WILL BE A LOP! IT WILL!] They have been raising the value of the currency…but it has not been a big jump. For some people the value has gone up 26, 27 28%. In 2013 they started reducing the US dollar within Iraq. They used the dollar to keep the dinar artificially down. They told everybody this that they are keeping it artificially down. Looking forward…an article came out saying 90% of economy oil and 30% US dollars…they had to get rid of this first and then reduce the dinar count. October 2013 they said they were going from 9 billion notes to 6 billion notes. 2014 said they were going to go from 6 billion to 4 billion. 2014 summer accomplished 6 billion to 4 billion notes... [post 1 of 2...Stay tuned for the rest of the lop debate]
10-29-2014 Newshound Guru Mike it is common every 10 years or so for new bills to be printed in an economy and that it is VERY IMPORTANT for the people...to have confidence in their currency. the BUDGET needs to be passed next, be done and put into place so that the banks can loan out money and pass projects (get them going) etc... the C.B.I. needs to add PURCHASING POWER at some point and that the ZEROES Project is a project that is going to happen in different steps...one being adding more value. Things need to be in place before they can add value to the dinar because there are alot of moving parts. Laws need to be passed and the economy moving...it's a process.
10-29-2014 Newshound Guru Kaperoni Article: "Parliamentary committee calls for the central bank to implement deletion of zeros early next year" the exchange rate of the dinar is not going to effect the financial investor on whether or not he should invest...what will is laws and a free market economy! More importantly "freedom of movement of capital" at any exchange rate so profits may be take out of the country in the currency of origin. A countries exchange rate is determined in the foreign exchange market (Forex) based on a countries economic indicators and the Exchange Rate regime chosen by the CBI. If the dinar is undervalued as so many say, it should rise to some level fairly quickly...then stabilize and continue to appreciate based on capital investment, growth, gdp, oil exports, etc.
10-29-2014 Newshound Guru Millionday Article quote: "...Dr. Mahdi Keywords Director, Office of the Prime Minister the government's determination to implement the program, which received unanimous popular and parliamentary and official and international acceptance," THIS IS THE ANNOUNCEMENT OF THE ACTION THEY ARE TAKING TO REFORM AND ENTER TO INTERNATIONAL ACCEPTANCE -- THE FORMAL ANNOUNCEMENT IS TO IMPLEMENT THE ENTIRE GOV PROGRAMS AND ALSO ALL REFORMS... THEY ARE STATING THAT THE PRIVATIZATION OF THE COUNTRY IS BEING ACTIVATED FOR A MARKET ECONOMY. THEY HAVE ALSO ANNOUNCED THAT THEY HAVE ALREADY APPROVED ALL GOV PROGRAMS FOR THE NEXT 4 YEARS AS WELL -- AND THE MEETING WAS AN EMERGENCY FOR THE BUDGET FOR 2014 FOR THIS ACTIVATION. THEY MADE A DECLARATION OF THE ECONOMIC PROGRAM AND ITS HUGE LEAP IN THEIR DEVELOPMENT PROCESS AND THEY ARE VERY EXCITED.
10-29-2014 Intel/Newshound Guru Poppy3 ...NO LOP PERIOD. NUFF SAID.
10-29-2014 Newshound Gurus Bondlady & tlm724 Article: "Parliamentary committee calls for the central bank to implement deletion of zeros early next year" Quotes: "the parliamentary finance committee demanded, the Iraqi Central Bank to apply the project to delete the three zeroes from the currency early next year" demanded! "The present time appropriate for the application of the project, especially since Iraq has returned to the regional and international environment" international level...international level is exactly what Iraq needs, be able to trade that currency and make money, sell long term bonds also as opposed to making money on the auctions, one should replace the other. it was what had to happen for Iraq to raise its value, to be accepted through out the world as a trusted currency and with the new Iraqi government the world has gained a new appreciation for Iraq and its country...internationally traded and accepted, the beginning of what Shabibi said would happen years ago when Iraq got its crap together...well imo they are finally getting there.
10-28-2014 Intel Guru Frank26 [via BulldogFord65] ...Sunday, Oct 26 was the beginning of the lifting of the 3 zeros (or increase of the value); IMO, it’s not in human hands any longer, it’s an algorithm that is traveling globally (data is being transmitted), and last night, evidence of testing was seen in movement of the IQD on certain financial websites...there is evidence that the Qi card was used for the first time also.
10-28-2014 Newshound Guru Kaperoni Article: "Parliamentary committee calls for the central bank to implement deletion of zeros early next year" ...if the plan was some kind of RV or overnight event/staging rate (which may have been the original plan) clearly the three zero dinar would have to be removed prior...which isn't happening since the CBI is in the process of releasing new replacements. You just don't leave those kind of notes on the street.
10-28-2014 Intel Guru Bulldog75 YOUR CE IS STILL ON THE WAY. THAT WILL HAPPEN SOON TO NOW. THE CHINESE ARE IN CONTROL!
10-28-2014 Newshound/Intel Guru BGG [does anyone really believe a private citizen will be able to walk into boa, wfb, etc. and exchange iqn for us dollars any time soon?] I do...or I wouldn't be here.
10-28-2014 Newshound Guru Mailman17 I STILL HAVE NO INTEL ON ANY NOTE OTHER THAN WHATS ON THE ENGLISH SIDE OF THE CBI WEBSITE ACTUALLY BEING USED. PLEASE REMEMBER, MISINFORMATION IS ABUNDANT...THIS WILL BE THE BIGGEST TRANSFER OF WEALTH THE WORLD HAS EVER SEEN, AND WE DINAR HOLDERS ARE MERE GUPPIES IN A POND. ILLUSIONS ARE EXPECTED IN THE END OF THIS RIDE...PLAN ACCORDINGLY... AND LOOK OUTSIDE THE PICTURE ALREADY PRESENTED...JMO. [post 2 of 2]
10-28-2014 Newshound Guru Mailman17 I WAS AWARE OF THE PICTURES OF THE SUPPOSED NEW NOTES PLANNED ON THE ARABIC SIDE OF THE CBI WEBSITE. YET PLANNED AND ACTUALLY IN EXISTENCE ARE 2 DIFFERENT THINGS. THEY ARE STILL NOT RECOGNIZED AS ACTUAL CURRENCY, ONLY PLANNED. THIS IS IRAQ...PLANS CHANGE DAILY. THEY CAN PUT ANY PICTURE UP THEY WANT OR HAVE ANY MP FROM A BLOCK OR COMMITTEE STATE SOMETHING...IN THE END, IT MEANS NOTHING UNTIL IMPLEMENTED. [post 1 of 2....stay tuned]
10-28-2014 Intel/Newshound Guru tman23 The GOI and CBI are preparing for the IQD to be accepted internationally...Who wants to argue that point? But the biggest point to be made is...IF the intent is to remove the 3 zeros across the entire IQD currency spectrum , which would mean LOP and a NEUTRAL event with NO GAINS to be made on the monetary changeover...WHY THE...CAT AND MOUSE GAME WITH ARTICLES OF 2016, 2015, 5 YEARS, 4 YEARS ETC..ETC.. It absolutely makes no sense to confuse your own citizens along with the marketplace which promotes doubt in the IQD all together...so what central bank in the world other then Iraq operates this way? Why be deceptive over a neutral event? WHY? WHY? WHY?
10-28-2014 Intel Guru TerryK [Have you seen where the IQD is trading?] 1137 RIGHT NOW. [ Is that good?] YES. THAT MEANS IT ONLY TAKES 1137 DINAR TO MAKE A DOLLAR INSTEAD OF 1166...NOT MUCH BUT IS A MOVE. [what you hearing?] WE MAY SEE THIS LATE TONIGHT TO WED.
10-28-2014 Newshound Guru Kaperoni Article: "Deletion of zeros!" Quote: "Iraq is the latest Arab and foreign countries decide to delete the zeros from its currency" Does anyone think the CBI would go through the expense to reprint the existing denominations, add security features, educate the citizens and put them in circulation only to redenominate LOP the currency in a few months? Its actually a good article because he is saying a redenomination or LOP is a not a good thing... Clearly this guy is not in support of redenomination. I remind everyone that the CBI is a member of the IMF and the IMF falls under the charter of the UN...the CBI will do what the IMF says.
10-28-2014 Intel Guru TD Article: "Deletion of zeros ! Iraq is the latest Arab and foreign countries decide to delete the zeros from it's currency" Well, the mail is in! Article CLEARLY states their intentions for 2015 and should once and for all put to rest that "deletion of the zeros" DOES NOT mean "pulling these notes from the marketplace". IT DOES NOT! It spells out (VERY CLEARLY) that (a new) 1 Dinar will equal 1000 old dinars, a new 5 Dinar will equal 5,000 old dinars. NO DISPUTE ANY LONGER WHETHER OR NOT IT WILL BE A LOP! IT WILL!
10-28-2014 Newshound/Intel Guru BGG [...where to you think we are at this very moment? do you see things happening before oct 31?] Personally, I am just trying to stay prepared for anything (at any moment). I would hate to inaccurately build some level of expectation. I believe it to still be a good investment.
10-28-2014 Newshound Guru Kaperoni Article: "The return of the controversy regarding the deletion of zeros currency...and application over five years" IMO...until the laws are in place, it makes no sense to start the process. And the CBI does not want to commit until they see that the GOI/parliament has done what it needs to do. Remember, if this plan is to work, investment must come into Iraq. Without it, the currency stalls. ...without the economic and banking laws that are stalled in parliament to transition to a market economy passed, it makes no sense because investment will not come in. You have to create the environment, the right climate and set the stage if you want investment. ...the economic plan that just came out identified 11 significant laws that are stalled for a market economy. Parliament needs to get to work before anything will happen with the dinar.
10-28-2014 Intel/Newshound Guru Poppy3 SAD NEWS BUT A RUMOR, COMING FROM IN COUNTRY SURE MEANS IT IS RUMOR. THEY SAID TODAY THE RUMOR HAS CHANGED FROM LATER THIS WEEK TILL LATER NEXT MONTH. FROM THEM TALKING LAST WEEK THEY WHERE TRYING TO GO LIVE WITH A RATE LATER THIS WEEK. THEY ARE NOW SAYING THE RATE CANNOT BE COMPLETED TILL AT LEAST A COUPLE MORE WEEKS WITHOUT MAJOR ACCOMPLISHMENTS HAPPEN[ING] FASTER THAN EVER. THEY DIDN'T SAY WHY OR WHAT THE HOLD UP IS THAT NEEDS COMPLETING BEFORE THEY CAN GO LIVE WITH A RATE, JUST THAT IT WAS GOING TO TAKE LONGER THAN THEY EXPECTED LAST WEEK. WE WILL WATCH AND PRAY THIS INFO IS WRONG AND THE RATE COMES SOONER RATHER THAN LATER.
10-27-2014 Intel Guru TNT Tony We know the cards were issued. This weekend they changed the international access and also the rate. They have been $3.58, more or less, and Warka Bank is accepting cards internationally, but at the US rate rather than the rate everyone else has. The $3.58 was loaded in the whole international system until the US changed it. We are still in a good position, everything is in a good place. They are still saying Tuesday or Wednesday...we are just waiting now. We thought something would happen this morning, and it’s definitely happening this week.
10-27-2014 Intel Guru TerryK HEARING TUE IS VERY VERY STRONG. LET ME POST THIS: Zurich bonds are definitely trading and the ISX linked up but they are hiding what they are doing. I was also told to watch the SDR rates. And yes it is expected in the same time frame "TUESDAY".
10-27-2014 Intel Guru Nova [via BulldogFord65] ...all of us...want to know when we can take the IQD to the bank and exchange for a profit; however, banks don’t care about the exchange rate, they are looking for the algorithm, the mathematical equation that tells the bank or the vendor what funds are available for the requested transaction; prices are not seen on the ISX because the algorithm is not there yet; the ISX is international but the ISX, banks, vendors, etc cannot settle their business yet in the IQD...the Iraqi banks are ready for the algorithm, we’ve seen branches open outside of Iraq, and they are ready inside Iraq. ...the SDR...it’s essentially a backing basket of currencies that becomes the algorithm that determines the value of the currency; we are witnessing the launch of the new way the world will value currencies going forward, and it all begins with the IQD. IMO, the ISX could trade internationally right now, the only constraint is that legally, they must use only IQD for transactions, so until they have the algorithm they cannot trade internationally.
10-27-2014 Intel Guru DC We are so close! Iraq did have their new Year’s celebration, wanted to get it done, and the US thought something wasn’t done correctly and...They are getting that done as we speak... They are referring to this as ‘only a slight delay’, but everyone’s ready. Iraq is looking for a lot of support from a lot of countries, and they have egg on their face because it didn’t happen Saturday/Sunday. Parliament did NOT read the final reading of the 2015 budget, but that is not an essential part of the RV. It’s on the agenda for tomorrow. A lot of the cards are still showing $3.58, but some international cards are showing $1.18, which is confusing for everyone. In the US, they are still showing around a dollar. In the US, the UN Security Council are not pleased with the US... At the banks, they were geared up and ready...The UST is ready to go as soon as these slight issues are squared away. There is a tight timeline in the next day or two, depending. Everyone is ramping up for it to go.
10-27-2014 Newshound Guru OOTW [so what are we waiting on now?] IMO THAT'S THE MOST IMPORTANT THING WE NEED TO WATCH FOR - IF AND I STRESS "IF" WE NEED MORE LAWS FOR THE RATE TO BE RELEASED/IN COMPLIANCE WITH IMF ART 8. [So we don't know YET, if there are more laws needed to be passed then?] NO WE DON'T KNOW...BECAUSE...WE DON'T HAVE ACCESS TO ALL THE LEGAL REQUIREMENTS GIVEN TO IRAQ BY THE IMF/WORLD BANK, UNDER THE UNAMI MANDATE ETC. IF WE HAD A LIST OF THOSE...THEN WE'D KNOW WHAT TO WATCH FOR - THE IMF ART 8 EXCHANGE REGIME IS DIFF/TAILORED FOR EACH RESPECTIVE COUNTRY, BUT ALSO ADHERES TO BASIC GUIDELINES. RIGHT NOW, TERRORISM REMOVAL AND THE FED COURT ACT...TWO MOST IMPORTANT ASPECTS TO WATCH.
10-27-2014 Newshound Guru Breitling Iraq doesn't need to come out with a new currency to add value to the dinar we have. That is not the key…that is not the mechanism. They are not going to put out a 1 dinar note unless the dinar has a higher value. What was the CBI's promise so the notes coexist with the newer notes? To lower the note count and add value to them. If our notes were not important then you [the CBI] would not need to do that.
10-27-2014 Intel Guru Frank26 IMO, We are done. You see...IMO, it is no longer in human hands...It is now an algorithm. Migrating as I told so many so many years ago...From the E to the W. I am proclaiming the end to our IQD STUDIES together.
10-27-2014 Intel/Newshound Guru Poppy3 ...WE SEE THE ISX DID NOT OPEN TO THE PUBLIC TODAY [SUNDAY] BUT TRADED IN COUNTRY AND CONTINUED TESTING THE SYSTEM. BE AWARE OF UP COMING ACTIONS AND A RATE RELEASE SO THEY CAN GO INTERNATIONAL AT SOME POINT HOPEFULLY DURING THIS WEEK. THEY ARE DESPERATE FOR CASH FLOW AND OUTSIDE INVESTMENTS IN THEIR COUNTRY AND INVESTORS ARE NOT COMING AT 1166 BUT THEY WILL COME WHEN THE DINAR IS WORTH MORE THAN THE DOLLAR.
10-27-2014 Intel Guru TD It's a Oxymoron to say they must increase their rate due to budgetary constraints. HOW? How do you pay for that? And oil today went below $80 a barrel. In addition, the ISX and whatever rate they use is irrelevant in percentage gains and losses. They have already laid out their goals and intentions in recent articles which is a 4 year plan: Deletion of the Zeros program to be started in 2015 (or 2016 as plan B)). THEN their goal is to exchange and retire all the 3 zero notes (estimated to take 2 years)...it's all spelled out pretty clearly what their "HOPE TO DO IS" (GOALS). The wild card in Iraq's case (has been and continues to be so) is actions and progress on the ground. NO ONE has a crystal ball to effectively tell the future, especially Iraq.
10-27-2014 Newshound Guru Millionday [ If iraq is in such dire straits, why have they not moved to do something about monetary reform by now?] THEY HAVE COMPLETELY CHANGED AND REWRITTEN THEIR ENTIRE MONETARY POLICY ECONOMIC REFORM -- POLITICAL REFORM -- ADMINISTRATIVE REFORM -- BANKING REFORM -- I DONT THINK THEY HAVE MUCH LEFT TO DO SOMETHING ABOUT -- THEY HAVE CHANGED TO A DEMOCRATIC COUNTRY AND ALSO CHANGED ALL LAWS TO BE INTERNATIONALLY COMPLIANT. WE ARE THE ONES THAT THINK IT HAS TAKEN A LONG TIME -- I BET BEING FOR AN ENTIRE NATION THEY ARE ACTUALLY IN A HURRY AND WE ARE THE ONES THAT THINK THEY ARE SLOW...
10-27-2014 Intel/Newshound Guru tman23 With governments, deadlines come and go with no resolve...with financial institutions such as banks and stock markets they 99.9% of the time meet time frames because their whole structure is dependent upon investment and performance...So BY THE END OF THE YEAR is a significant statement by these organizations...They are not speaking of a RV but rather being able to do business with Iraq currency internationally. [post 2 of 2]
10-27-2014 Intel/Newshound Guru tman23 Regarding the Smart Card aka Qi Card (key card)...As of now it is NOT accepted outside of Iraq although it is linked to Master Card it is not activated "But will be by the end of the year" once a government announcement is made...One thing appears for certain and that is BY THE END OF THE YEAR for international "trade or use"...at least Qi and the ISX and ESX all have made these statements "by end of the year". [post 1 of 2....stay tuned]
10-27-2014 Intel Guru Mnt Goat What are these items we need to look for? ...they are the HCL, Articles 140 dispute removed, the Judicial Reforms laws, the Law of the Parties and lastly the infamous 2014 Budget. We are being told the revisions are done now for the budget law and they are expected to review it in parliament tomorrow [Tuesday]. ...the RV holdup is not about just the budget, the HCl, the seating the parliament or council of ministers or any one singular event or law. It’s about putting an entirely new “functional” government together as a whole. It’s all coming soon and Iraq is working at warp speed to get it all done. [post 3 of 3]
10-27-2014 Intel Guru Mnt Goat It was interesting to hear of...three laws as their main target now. The first two, that of HCL and the Judicial reforms did not surprise me however the Law of the Parties did. This shows me just how serious the USA is on having Erbil (those 27 reforms) all completed prior to the USA letting any RV go. yes – the carrot is still dangling in front of Iraq and they know they need to move quickly. I also believe the USA and UN are fast tracking them and pushing them to get these laws implemented. My sources are telling me they are targeting now the end of October but personally if we don’t see some critical items this wee, then I am afraid to tell you that we could be looking at instead a mid November window for completion. [post 2 of 3....stay tuned]
10-27-2014 Intel Guru Mnt Goat Iraqi progress is moving forward very rapidly. Their efforts now seem to be focused mainly on three fronts. One is fighting ISIS, another is getting the necessary laws implemented that can create more stability thus support the security side. Lastly the other is a flood of news businesses and contractors now knocking at Iraq’s door. They are writing new contracts like crazy. These are contracts with international companies for reconstruction projects, new housing, tourism, transportation, goods and services. Where is all this money going to come from? Do I smell a currency revaluation in the air? Do they know something we don’t? [post 1 of 3....stay tuned]
10-27-2014 Newshound Guru Millionday THE PEOPLE THAT STATED IT WOULD RV TODAY -- DID NOT KNOW IT ACTUALLY HAS TO GO GLOBAL BEFORE THAT IS A MUST. [so, what is next and is their an indication of when?] CBI IS INDEPENDENT AND IS READY - THE ISX IS HOOKED - WE HAVE A FULL GOI - AND MANY ARE HELPING IN THE WAR ON TERROR - ...AS OF RECENT REPORTS THEY HAVE 75% OIL MARKET AND ARE WORKING ON ARTICLE 112 AND 113 - AND THAT CBI STATED THEY ARE WAITING ON THE TIME TO DO THIS - SO WE WILL WATCH AS THEY FINISH THEIR STEPS AS WE WERE TOLD THEY WERE ACTIVATING THIS IN STEPS PER THE ANNOUNCEMENT CBI. [post 2 of 2]
10-27-2014 Newshound Guru Millionday THE ISX HAS BEEN CLOSED FOR A WEEK TO INSTALL X-STREAM FOR ITS ENTRY TO THE GLOBAL SYSTEM AS ...THEY OPENED BACK UP AT THE IMPOSED RATE AND HAVE NOT RELEASED THE INTERNATIONAL MARKET RATES YET OR GONE GLOBAL -- WHEN THEY GO GLOBAL IT WILL HAVE TO BE WITH A CALCULATED RATE OR PRICE FOR INTERNATIONAL TRADE OF THE DINAR AND ALL IMPORT/EXPORTS OR STOCK MARKET INVESTMENTS. THE SYSTEM CAME BACK UP SUCCESSFULLY AND IS RUNNING WITH NO REPORTED PROBLEMS. THIS IS A HUGE STEP FOR A MARKET ECONOMY AND GLOBAL TRADE AND ALSO CBI HAS STATED THEY ARE READY AND ARE JUST WAITING FOR THE TIMELINE. [post 1 of 2....stay tuned]
10-27-2014 Intel/Newshound Guru Poppy3 ...WE SEE THE ISX DID NOT OPEN TO THE PUBLIC TODAY [SUNDAY] BUT TRADED IN COUNTRY AND CONTINUED TESTING THE SYSTEM. BE AWARE OF UP COMING ACTIONS AND A RATE RELEASE SO THEY CAN GO INTERNATIONAL AT SOME POINT HOPEFULLY DURING THIS WEEK. THEY ARE DESPERATE FOR CASH FLOW AND OUTSIDE INVESTMENTS IN THEIR COUNTRY AND INVESTORS ARE NOT COMING AT 1166 BUT THEY WILL COME WHEN THE DINAR IS WORTH MORE THAN THE DOLLAR.
10-27-2014 Intel/Newshound Guru tman23 No idea who makes the announcement or if announcement is as simple as an action of the government releasing the funds...BUT...If workers are to receive pay retroactive back to Jan 2014 as indicated by the Abadi government...and Ismail (CBI governor) as reported is in all meetings working on the State Budget...then logic would be the CoM meeting Tuesday and the Parliament waiting on deck over the 2014 Budget...AGAIN...all indicators point to November and 11/3 -11/4 being the timeline that we possibly get a real clue on the direction of their plans for monetary change.
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