9-26-2016 Newshound/Intel Guru BGG [The Investment Law...is a pretty direct law, any idea what "tweaks" need to be done?] I am not exactly positive about what they are doing with it - but it appears they will make adjustments to an existing law to satisfy international pressures... and by all indications - it will happen soon. Probably one of the final pieces to the puzzle.
9-26-2016 Intel Guru ADMINBILL ACCORDING TO ALL SOURCES THIS SHOULD BE A GREAT WEEK. ..."TIME WILL TELL".
9-26-2016 Intel Guru Frank26 [...is the big event that is supposed to happen by November 1 something that we will be a part of...or will it only be for Iraq, as when they went international in July, but was only for them?] Have said many time IMO RI is now with RV in 2017. How can one complain on that opinion? Have also given..two reasons why these seem to have been put ahead of it's schedule.
9-26-2016 Newshound Guru Enorrste Article: "Iraq to the whitelist financially" it is clear to me that this is all do to the workings of the IMF in the background. I am actually beginning to think that the IMF may accomplish its goal which is to bring Iraq into the world market by early next year. This is something that Iraq alone could not do but we are seeing small pieces of the puzzle coming together on a more and more regular basis ever since the IMF made its promise.
9-26-2016 Newshound Guru Stryker Article of the Day!!! "Iraq expects to move to the white list financially early 2017"
9-26-2016 Newshound/Intel Guru BGG Article quote: "...he said Hafiz said the deal is going on in economic circles on the text submitted an analysis of the budget in 2017 to be taken into account fundamental issues in dispute , particularly the exchange rate of the Iraqi dinar..." they are in the middle of making some final "re-workings" on the 2017 budget... one of them sounds like some different exchange rate...which is weird... how can they "decide" what the price of oil will be - or their exchange rate... unless they already know.
9-26-2016 Newshound Guru rcookie Article: "Rise in the market value of companies in the stock market" Quote: "Mustafa al - Hashimi headed Iraq Stock Exchange to contract with one of the Arab corporate systems and programming for increased activation of the trading process through Alanturnt.ozkr weekly report of the Stock Exchange, seen by the «morning» he hoped the signing of the Convention in October next month and that the service is launching in quarter the first of the year 2017." THE ONLINE TRADING PLATFORM...THE SERVICE WILL BE LAUNCHED IN 1ST QUARTER 2017...AND THE ISX IS ALREADY REACTING IN ANTICIPATION...
9-26-2016 Intel Guru SteveI ...sit back, relax and let this darn frustrating investment come to you. Follow the money and you will see that Iraq is going to be one heck of a powerhouse in the global market.
9-26-2016 Newshound/Intel Guru BGG Article: "Rise in the market value of companies in the stock market" they are working towards opening an "online" version of the ISX... does any of this look like they are delaying ANYTHING? ...and just a quick note...several years ago - a BILLIONAIRE friend of mine told me directly - the ISX will produce more new millionaires than the currency does...when they open that up - it's ON!! Sisi let the "cat out of the bag" the other day...Egypt is going through much of the same stuff with the IMF...he plainly said "they would revalue their currency before the end of 2016"...Iraq is way ahead of them. [reference Guru mike post 9-25-2016]
9-24-2016 Intel Guru ADMINBILL THE NEWS CONTINUES TO BE POSITIVE BUT NO ACTION AS YET. FRUSTRATION IS GROWING WITH BANKERS AND OTHERS. THE NEED FOR THIS EVENT GROWS. WE WAIT FOR THE RELEASE. IT IS MY OPINION, BASED UPON THE NUMEROUS PIECES OF INFORMATION COMING IN, THAT THE RV WAS COMPLETED, THE FUNDING IS IN THE BANKS AND WE ARE SIMPLY WAITING FOR THE GREEN LIGHT FOR OUR TURN. ALL POINTS TO BEFORE THE 1ST BUT THAT IS STILL A BIG QUESTION MARK.
9-24-2016 Newshound Guru mike Article: "Nassif Abadi demanding reforms in the Central Bank" ...the IMF and WB are NOT in control in Iraq. For some reason folks thought their involvement would be the panacea for Iraq's financial woe's and this reminds us they alone aren't the solution, they need the political will of Iraq to accomplish the overall goals. Whacking Zebari demonstrated who's in control of Iraq and it isn't the US Treasury, IMF or WB. It's the Iraqi's themselves.
9-24-2016 Newshound/Intel Guru BGG ...VND, ZIM, Rial and all the other HOAXES out there...what makes Iraq (and their situation) different from all these others? how many of these countries have met with ALL THE OTHER WORLD LEADERS in the last 48 hours...how many of them had some kind of "top billing" at the recent IMF summit? how many of them met with the President of the United States? how many of them have this kind of economic future? how many of these other countries are like Iraq? NONE. Not one...VASTLY different scenarios. BTW - all of the stuff I mention about Iraq VS any other country "devaluing" has happened in the last 48 hrs!! Meetings, that's just the last couple of days - so what makes Iraq different?? EVERYTHING!!!
9-24-2016 Newshound Guru rcookie Article: "UNDP announces send anti - corruption investigators to Iraq next week" THE UN INVESTIGATORS TO FIGHT CORRUPTION ARRIVE IN IRAQ NEXT WEEK...JUST AS THE IMF ORDERED...CAN YOU SAY STABILITY.
9-24-2016 Intel Guru TD Comments from my Kurdish friend ( treat all as rumor and please do your own sound diligence ). I posted months ago to watch out for the battle of Mosul...Get ready to rumble! It's about to happen in any coming week. The Iraqi army is trained just enough and there are strategic elements of American forces quietly re entering the theatre. The Kurds are also armed and poised for the fight while Turkey will also be providing cooperation and help. As far as any news on currency reform - nothing has changed . Nothing will happen till consolidation of the country is achieved. Look maybe for news next spring for continued news of the "deletion of the zeros " program and then the LOP program will be initiated.
9-24-2016 Newshound/Intel Guru BGG it appears attacking the corrupt was one of the VITAL items on a short list that the IMF has been insisting on...It appears to me...the GOI is responding to the IMF, WB and UN - though they aren't entirely happy about it...however, if they want "international acceptance", they have little choice. They must respond...Iraq has been under some version of an "IMPOSED RATE" since when? [2003.] it's not even an accurate value - "Grossly undervalued" is the term used by learned economists...SO - it stands to reason they are going to have to appease those who "IMPOSED" this rate to start with... and THAT, my friends, is what we are seeing play out before our very eyes...those same actors that "imposed" can "unimpose" - it appears they have made this point very clear. Iraq is about IRAQ. Nothing else - AND it is the hottest topic in world finance right now. Period. With VERY GOOD REASON. Abadi's PM "brand" is HUGE right now...he's moving Iraq forward mightily...they are moving with great speed. I think the future looks very bright for Iraq.
9-23-2016 Newshound Guru rcookie Article: "Parliament determines the sixth of October as the date for the interrogation of al - Jaafari" Quote: "MP Haitham al-Jubouri, Thursday, all documents and evidence to prove "the involvement of" a large part of the "leaders" of the Ministry of Finance Bmufat marred by corruption..." MARK YOUR CALENDARS...INSERT "ANOTHER ONE BITES THE DUST" SONG HERE..
9-23-2016 Intel Guru Frank26 "Echoes of New York: World leaders praise the achievements of the Government of Abadi" A [Abadi] is Reporting and asking for Economic Reform help ... As the calendar of Iraq was Moved Up to accommodate an Article 8 position with the IMF.
9-23-2016 Newshound Guru mike Article: "Legal: withdraw confidence from Zebari does not cancel the charges against him" Zebari better get whatever documents he has to the IMF and WB, it looks like they're going to move quickly against Zebari with corruption charges.
9-23-2016 Newshound Guru Aggiedad77 Article: "Echoes of New York: World leaders praise the achievements of the Government of Abadi" ...things are being stepped up with Iraq now...what I want to see is the action that transpires upon Abadi's return from the US...hopefully before the weekend ...he has the fortitude and the necessary ability to put the best spin on things for Iraq and the world...watch for Abadi...IMO.
9-23-2016 Newshound Guru rcookie Article: "Abadi adviser: IMF expressed its readiness to open up in front of his locker Iraq" Quote: "The recent meetings in Washington DC between a number of countries and the Iraqi delegation headed by Prime Minister Haider al-Abadi, there was a very positive and promises from a number of countries and agencies for the reconstruction of Iraq..." ...FURTHER SUPPORT COMMITMENTS FROM IMF OVER AND ABOVE RECENT WB STATEMENT OF THE SAME...AND ADDITIONAL PLEDGES FROM OTHER COUNTRIES AWAY FROM UN GENERAL ASSEMBLY...THE WORLD IS IN THEIR CORNER...
9-23-2016 Intel Guru Frank26 Article: "Abadi discussed with the International Monetary director of the implementation of economic reforms and diversification of resources" This is the next meeting with Iraq and IMF...In the first week of October. BTW this 22nd until the 30th of October... They will have two more meetings... This is the first... IOO when A returns...Much will be said of much that has been done.
9-23-2016 Newshound Guru Aggiedad77 Article: "Echoes of New York: World leaders praise the achievements of the Government of Abadi" ...I believe...Abadi would be reaching out to the IMF...the US...and the World Bank for support of their Economic Reforms...they would be sitting down with the international world asking for their support as well...Indeed this is what we see rolling out of this trek to the US...these exact things...Let's be extra watchful for what happens upon Abadi's return to his homeland of Iraq...IMO...it could be very exciting and good...maybe even gooder for all who have a stake in this blessing...no date...no rate here of course.
9-23-2016 Newshound Guru My Ladies ...I WANT TO ADDRESS SOME MORE CONFUSION THAT IS OUT THERE...PLEASE EVERYONE STOP TALKING ABOUT THIS STOCK EXCHANGE IN THE WRONG CONTEXT. THIS IEX IS NOTHING MORE THAN ANOTHER SEC APPROVED STOCK EXCHANGE. THEY ARE ONLY LICENSED TO TRADE UNITED STATES SECURITIES NOT CURRENCIES... ASK THEM IF THEY TRADE CURRENCIES OR WILL EVER LIST CURRENCIES OR FOREIGN SECURITIES. THEY WILL TELL YOU NO NO NO...THEY ARE NOT LICENSED FOR SUCH A THING AND THE FOREX TRADES 4-5 TRILLION DOLLARS IN CURRENCIES A DAY SO WHY ON EARTH WOULD A RETAIL DEALER WANT TO TRADE CURRENCIES ON ANOTHER PLATFORM? THEY WOULD NOT WANT TO.
9-23-2016 Intel Guru ADMINBILL The news from yesterday was positive to be sure. The majority of us expect to see an end on or before September 30th.
9-23-2016 Intel Guru Bruce ...remember the G20 meeting couple of weeks ago? Many signed on, 30 different treaties. The Paris agreement. The climate change, RV and GCR were in that agreement and all signed off on it. ...Iraq...They were told to go ahead and revalue their dinar immediately. They were given full sovereignty; all sanctions lifted, and told to revalue their dinar... bring their dinar as an International currency rate up. We also heard after Abadi went home, they did a small press conference yesterday. Iraq is ready to go from all the information we have from their perspective. In the large scheme of things this is a worldwide event. All these countries will be changed with the first basket. Rates are ready, redemption centers are ready to go, and banks are ready. We are ready to go. Rates are quite good. I think things are still moving along at a good pace. I can see this coming to an end.
9-22-2016 Intel Guru SteveI You get Mosul completely done, move the army to the border, and then finally great times ahead for all.
9-22-2016 Newshound Guru rcookie ...SAW PARLIAMENTS AGENDA FOR TOMORROW [THURSDAY]...1ST ITEM ON AGENDA...1ST READING FINANCIAL MANAGEMENT LAW...RIGHT FROM THE IMF LETTER OF INTENT/MEFP/TMU. BOULYAAAAAAAAAAAAAAAH!!!
9-22-2016 Newshound Guru firefly Nobody seems to be talking about the UN meeting...With Abadi and Iraq. Big is putting it mildly. All I will say is it coincides with the previous G20 meeting in China. Also .... Zebari is going NOWHERE!
9-22-2016 Intel Guru Dr. Clarke lots & lots happening, friends...and quickly...and it's closed today (ISX Thursday). Our eyes are particularly focused on this Sunday - Monday and through to next Saturday. Crunch time...ALL meetings have gone well...so far.
9-22-2016 Newshound Guru mike Article: "House of Representatives withdraw confidence from the Minister of Finance and vote on bills" I'm a little surprised this passed through Parliament, the Kurd's are not going to be happy having Zebari removed. In the middle of an offensive against Mosul, they let go of the Defense Minister, now while they're preparing the budget for 2017, they let go of the Finance Minister. To round it up, Iraq doesn't have an Interior, Defense or Finance Minister in the GOI, who's next, Abadi?
9-21-2016 Newshound Guru rcookie Article quote: "Hussain urged the government to sign more agreements air with other countries, especially that Iraq is on the verge of commercial traffic and open its market to foreign capital..." IRAQ ON VERGE OF COMMERCIAL TRAFFIC AND OPEN ITS MARKET TO FOREIGN CAPITAL... BOULYAAAAAAAAAAAH!!!
9-22-2016 Newshound Guru Shredd So, in summary, the "paying" for your exchange is passed on and the only entity that would ultimately lose money out of pocket per se would be the investor who was holding the dinar at the time if it would crash in value. This general rule applies in all levels of investment -- buying low and selling high. We just get the benefit of the biggest jump in the difference of the two! To that point, I personally plan on initially exchanging a certain percentage of my dinar and holding on to the remaining with the hopes of an even greater gain further down the road. [post 3 of 3]
9-22-2016 Newshound Guru Shredd As far as who "pays" for the increase, we can't look at currency exchange as a finite transaction, a "one-and-done" if you will. Rather, it's an ongoing transaction...
1. You bought the dinar at a low rate (this is the part of investment where the investor makes their money....on the low buy)
2. The value grows (this is driven by the market and no transaction happens in this step)
3. You sell your dinar (you get the gain and the exchanging bank deposits the USD in your account after verifying)
4. The exchanging bank exchanges the dinar with the dealer (thus balancing their "paying" for the initial exchange)
5. The dealer resells the dinar at the current rate (thus balancing their "paying" for the exchange bank's exchange)
6. The new buyer of the dinar ultimately "paid" for your initial exchange but they also hold the dinar at the new value and can exchange it again as the rate increases. Once they do, they balance what they "paid" for their purchase plus gained a bit since they chose to trade...and on and on it goes from here. [post 2 of 3....stay tuned]
9-22-2016 Newshound Guru Shredd [Who pays for the delta/increase between the current rate and the increased rate we hope to receive?] When you exchange your dinar for USD, the bank will verify the authenticity of the currency (either internally or with a vendor) and once the transaction is complete, the bank DOES NOT hold onto it but rather will exchange it again to USD with a foreign exchange dealer in what is referred to as the interbank market. The bank will set the rate based on the market and demand and will of course take their cut (spread). The foreign exchange market works through financial institutions, and it operates on several levels with few insurance companies and other kinds of financial firms are involved. Trades between foreign exchange dealers can be very large, involving hundreds of millions of dollars. Because of the sovereignty issue when involving two currencies, forex has little (if any) supervisory entity regulating its actions. If you sell your dinar back to the broker you purchased it from, they will exchange with a large bank and the above process takes place the same. [post 1 of 3....stay tuned]
9-22-2016 Newshound Guru My Ladies UNDERSTAND THAT IRAQ IS DOING NOTHING SPECIAL, IT IS NOT A WHITE ELEPHANT OR YELLOW UNICORN IT IS SIMPLY JUST ANOTHER EMERGING MARKET AND AS SUCH IT WILL NEED TO REACT AS ALL OTHER MARKETS DO AND THAT WILL BE TO TRADE INTERNATIONALLY. I CAN NOT SPEAK TO RATE AND NO ONE CAN…AND JUST BY READING HOW ALL THE OTHER COUNTRIES DROPPED THEIR ZEROS AND DEALT WITH REVALUATIONS I’M SURE IRAQ WILL FOLLOW SUIT. ...SIT TIGHT... THE LONG WAIT IS ALMOST OVER AND FOR ALL INTENTS AND PURPOSES THE CLOCK TO THE NEW SYSTEM STARTED IN DECEMBER OF 2015 WHEN THE CODE OF REFORMS WAS FINALLY ACTIVATED AND ALL EMERGING MARKETS HAVE BEEN FAST TRACKING SINCE THEN. I HAVE MUCH MORE TO SHARE WITH YOU...FOR NOW DIGEST ALL THAT I GAVE YOU... SMILE AND CALM DOWN. IT IS ALL GOOD. [post 4 of 4]
9-22-2016 Newshound Guru My Ladies ...PLEASE STOP WRITING AND SAYING...IRAQ HAS A WORTHLESS CURRENCY. THE CURRENCY IS ONLY WORTHLESS WHEN COMPARED TO THE DOLLAR. BUT SINCE THE DINAR DOES NOT CROSS BORDERS WHEN YOU SEE IRAQ BUYING THIS OR PAYING THAT THEY ARE DOING IT WITH USD. THE QI CARDS THAT YOU ALL TALK ABOUT PLEASE STOP SAYING THE CARDS ARE LOADED WITH 3$ OR 5$ BECAUSE THAT IS NOT POSSIBLE BECAUSE THE QI CARDS ARE DOMESTIC TO IRAQ! WHY ON EARTH WOULD THEY HAVE A FOREIGN EXCHANGE RATE INSIDE THEIR BORDERS? FOREIGN EXCHANGE RATES ONLY APPLY WHEN YOU CROSS BORDERS. [post 3 of 4....stay tuned]
9-22-2016 Newshound Guru My Ladies POLICY AND LAWS ARE IMPORTANT FOR THE SUSTAINABLE IRAQ, THAT’S A FACT...WHAT IS MORE IMPORTANT IS THE CONNECTION IRAQ CAN MAKE TO THE EXTERNAL FINANCIAL HUB. NOW DOES IT MATTER IF THE DINAR IS ELECTRONIC OR IN PAPER FORM? NO NOT AT ALL, BECAUSE ALL TRANSACTIONS ARE SETTLED DIGITALLY. NO ONE IS CHARGED WITH THE JOB OF MOVING CURRENCY FROM COUNTRY TO COUNTRY IN A WHEEL BARROW IT IS ALL DONE ELECTRONICALLY. WHEN IRAQ TALKS ABOUT THE E-DINAR THEY ARE TALKING ABOUT MAKING A CONNECTION TO THE EXTERNAL HUB. ...THE DINAR WILL TRADE...IT IS A FACT AND IS NECESSARY ACCORDING TO THE 2010 REFORMS, AS AN EMERGING MARKET THERE IS A PLACE FOR IRAQ ALONG WITH EVERYONE ELSE. THE WORLD DOES NOT NEED THE DINAR FOR ANYTHING BECAUSE THAT IS JUST HOW THE WORLD WORKS. THE DINAR WILL NOT BE THE SAVING GRACE FOR THE PLANET... [post 2 of 4....stay tuned]
9-22-2016 Newshound Guru My Ladies ...IF YOU GET RID OF THE NOISE AND READ THE FACTS YOU WILL SEE THAT WHAT IRAQ IS DOING IS NO DIFFERENT THAN WHAT ALL OTHER EMERGING MARKETS ARE DOING. MANY FOLKS IN THE COMMUNITY ARE JUST HYPER FOCUSED ON IRAQ AND THE STUDY OF THAT COUNTRY WHICH HAS LED TO ALL SORTS OF STORIES ABOUT WHAT NEEDS TO HAPPEN FIRST LIKE IS IT THIS LAW OR THAT LAW? IS IT THE RETAKING OF MOSUL? IS IT THE LYNCHING OF MALIKI? IS IT THE RETURNING OF SHABBIBI? WELL GOOD NEWS FOR ALL OF US NONE OF THIS MATTERS IN THE BIG PICTURE. [post 1 of 4....stay tuned]
