12-15-2014 Intel/Newshound Guru Poppy3 ...ACCORDING TO MANY NEWS ARTICLES THE BUDGET AND COMPLETED HCL WILL BE IN PLACE NO LATER THAN JAN 1.
12-15-2014 Newshound Guru sczin11 OH, BTW, THE MARKET RATE HAS NOT BEEN AT 1190 OR LESS IN A VERY LONG TIME... IS THE 90 DAY STABILITY, WHEN THE CBI REPORTS SATURDAY AUCTIONS, USUALLY ON SUNDAY, THEY DO NOT REPORT A MARKET RATE FOR THE SATURDAY AUCTION...SO WE HAVE NO IDEA WHAT THE IMF LOOKS AT FOR THAT ONE. AND BTW, FOR ALL OUT THERE WHO DONT FOLLOW CURRENCY/STOCK/COMMODITY TRADING...A L L F L O A T! THEY ALL HAVE A BID AND ASK PRICE.. BUY AND SELL PRICE... ALL OF THEM.. NO EXCEPTIONS.. [post 2 of 2]
12-15-2014 Newshound Guru sczin11 IMF 2% Spread...I do not have the exact wording of this requirement, but, if we are to assume it does exist, simple math should prevail. The problem is, IMHO, we do NOT know which rates are being used to come up with this per cent spread. If we use 1166, the imposed rate, as the operational rate, and the market rate as published almost daily by the CBI ON THEIR WEBSITE, CBI.IQ, and we divide 1197, current published rate, into 1166, we get 2.6%, NOT 2%! This is the same percent spread the IMF mentioned in the last release, a few days ago. ...what rates are being used for this calculation? Why is below 1200 market rate, the BINGO NUMBER? Am I missing something here? [post 1 of 2....stay tuned]
12-15-2014 Newshound Guru Millionday THE CALL HAS BEEN MADE FOR THE LEGISLATION TO GO GLOBAL WITH THE DINAR RATE INTERNATIONALLY AND THE LEGISLATION TO ENTER GLOBAL SYSTEM STRUCTURE. WHOOOPOW! [...if they wouldnt be releasing the rate soon after establishing a rate, why bother calculating it? Right?] RIGHT -- THE REASON LISTED HERE IS TO MOVE FORWARD WITH CONTRACTS WHICH ARE DOMESTIC AND INTERNATIONAL -- THEY ARE TALKING GLOBAL SO WE WILL WAIT TO SEE ACTION. [post 2 of 2]
12-15-2014 Newshound Guru Millionday Report quote: "Hashimi demanded economic academic Dr. Majid Baidhani strengthening the peg to a basket of world currencies to distract the global financial crisis effects and the fluctuation of the dollar exchange rate in the economy of Iraq." THIS IS THE CALL TO CALCULATE THE DINAR EXCHANGE RATE FOR THE INTERNATIONAL CURRENCY RATES AND TRADE OF COURSE. THE CALCULATION WILL BE DONE TO THE BASKET OF CURRENCIES INSTEAD OF JUST THE DOLLAR DUE TO THE CHANGES THAT THE US DOLLAR IS INCURRING...THEY ARE STATING THAT THE CHANGES THAT HAPPEN AND CREATE AN UNSURE BALANCE COME FROM JUST BEING PAIRED TO THE US DOLLAR SO THEY WANT TO USE THE SDR BASKET SO IT IS MORE SECURE IN ITS RATE AND HELD AS WELL. [post 1 of 2....stay tuned]
12-15-2014 Intel/Newshound Guru Poppy3 THE COUNTRY OF IRAQ RESOURCES CAN SUPPORT IN EXCESS OF $11.00 PLUS AND THAT FIGURE WAS FROM 3 YEARS AGO AND THEY HAVE DISCOVERED 2 MAJOR OIL FIELDS SINCE THEN THEY DIDN'T EVEN KNOW THEY HAD.
12-15-2014 Newshound Guru Stryker 2015 Budget Update: Prime Minister al-Abadi's office has confirmed that the committee in charge of the 2015 Budget draft will present it to the Council of Ministers in tomorrows Tuesday meeting. And they have added that it will not take longer than two meetings to get it to parliament.
12-15-2014 Newshound Guru Tlar When the IMF indicated that their job with Iraq was done it got me to thinking. The overall responsibility of the IMF is to referee world currencies and level the playing field, so it makes me wonder what they mean when the say this. Personally I saw it as a small pat on the back that the IMF was giving themselves. I think by now we can all agree Iraq is ready to delete the zeros and that that, is their end goal. We can all agree that something is going to change otherwise why print the fils? That would have been a huge waste of public money. It is only the timing of this event that is disputable in my opinion. My money is on this happening whether all the legislation gets done before or not. My money is on Article VIII happening when the value is introduced and not before. My money is on this happening whether the budget is done or not. I would also like to say this is my opinion, not intel. I think they would be foolish to let the momentum die by waiting another year. [post 2 of 2]
12-15-2014 Newshound Guru Tlar I think the move to article VIII will be in conjunction with the change in monetary policy. I also think that all the laws albeit important, will fall when they fall and have at this time little bearing on monetary policy. The economic draw to investors, IMO will be the currency. The most important legislation, the budget, which sets the stage for economic development in Iraq, the CBI has already said that they will do it when the timing is right whether the budget is done or not. It is worrisome to me that Saleh said the timing would be better in 2016 but Abadi seems desperate to get this economy going. Personally at this point in the game, I think they would be crazy to hold this back another year. They can pass all the laws they want and promise a better future to the people but without an international currency, what has really changed? So my gut is telling me that for the new era to begin, they must now show their cards. [post 1 of 2....stay tuned]
12-15-2014 Intel/Newshound Guru Poppy3 i have never wavered from my research and what the powers that be have stated the rate that was approved and even though they have had many new meetings with the imf not one cbi or imf official has ever stated a different rate. In oct 2010 the IMF web site stated they had approved a new rate on DINAR of $3.22 plus up to 20% more for inflation since the war started. That means up to $3.86 at the highest. Dr Shabibi whom never lied to us about anything stated they wanted to have a median flat rate they can manage for 24 to 36 months while they further grow their economy before going to a float.
12-15-2014 Newshound Guru sczin11 [From what I've read, the 2% relates to the spread in any 90 day period within a managed float. It has nothing to do with what the initial rate is.] B I N G O! AND THE IMF DOCS I HAVE READ, HUNDREDS OF PAGES, CLEARLY STATE IRAQ SHOULD COME BACK WITH THEIR PRE SADAAM RATE OF $3.22, AND POSSIBLE COST OF LIVING ADJUSTMENT OF 20% INCREASE/HIGHER... AND OTHER REPORTS AND ARTICLES CLEARLY STATE THEY SHOULD BE CLOSE TO KUWAIT IF NOT A LITTLE HIGHER, AS THEY SHARE A PIPELINE AND HAVE TO BE BROTHERLY COUNTRIES.
12-15-2014 Newshound Guru OOTW THE INFORMATION KAP [See GURU KAPERONI post 12-13-2014] IS TALKING ABOUT IS FROM A PUBLICATION PUT OUT BY THE IMF IN 2006...AND YES I'VE READ IT FOUR TIMES THIS WEEK, IT DOES STATE THAT THE COUNTRY NEEDS TO STICK TO UNDER 2% PARITY FOR A CONSECUTIVE OF 90 DAYS. THIS DOESN'T MEAN IT DOESN'T STILL HOLD TRUE...WE JUST DON'T KNOW ...EVERY EXCHANGE REGIME AGREED UPON WITH THE IMF IS [DIFFERENT] FOR EVERY COUNTRY. [how many days has it been since under 2%?] SINCE NOVEMBER 30. WE'RE LOOKING AT END OF FEBRUARY IF AND I SAY IF THIS IS TRUE.
12-14-2014 Newshound Guru sczin11 WHAT WE DO KNOW IS THAT THE RAPID MOVEMENT OF NEIGHBORING AND FAR AWAY COUNTRIES TO SET UP SHOP IN IRAQ IS RAMPANT! The participation of the globe in the war against ISIS is real! The technological advancements are clear! the laws being read, and passed are vast! the internal corruption is being cleaned up with full transparency! and most significant to me, IMHO, the world is VERY involved with the BUILDING OF THE NEW IRAQ, FOR A REASON! Folks, we are holding a life changing currency, and let no one tell you otherwise! THE SOVEREIGN, PROUD, RICH AND POWERFUL COUNTRY, WE KNOW AS IRAQ, WILL BE BACK IN THE HEARTS OF THE WORLD, AT SOME POINT IN THE FUTURE! [post 2 of 2]
12-14-2014 Newshound Guru sczin11 WHERE ARE WE NOW! I dislike a phrase I use often, however, it is SO appropriate when it comes to the event we all await; "WE DON'T KNOW, WHAT WE DON'T KNOW!" Each time we think we have a handle on the process, and it looks to be the trigger we await, we are hit with additional unforeseen news, of something new in the horizon that must be completed! Are the banking laws completed? are the investment laws resolved? is the CBI rate of exchange in compliance with IMF requirements? Is the country stable? is the government stable? is the CBI truly ready? are the local banks all hooked up to the electronic systems? are the QI/Smart cards fully distributed? are the ports all set up for the custom tariffs to be executed? etc... etc...The answer to these questions is.... We dont know, what we dont know! [post 1 of 2....stay tuned]
12-15-2014 Newshound Guru Tlar So with that in mind I believe we will see the monetary change between the 25th of Dec to the 31st. A new Iraq will go global on the 1st of January in my opinion and the currency is the icing on the cake. I feel that they will not pass up this opportunity again. I also think we will see a reality rate right out of the shoot. I think the CBI is unwilling to shock their society but one time. Not the two step process that they were asked to do. They are on a mission to save Iraq. They are about to do it if they stay the course. Going global is a big part of their strategy. They know there is no choice but to succeed. Again this is my opinion. According to the intel this should already have been done. Change is about all you can expect in a violent storm. Goals and targets are set. As frustrating as it is, they are the moving target. I think this time they will get it right. At least I hope so. [post 2 of 2]
12-15-2014 Newshound Guru Tlar I...am a firm believer that all the stalling, the stop and go, is over at this point. I think that the basic holdup over the last month has been that they are so close to the new accounting period (Jan 1st) that they had decided to wait. Through the years the CBI has said that the ideal time is to start on a new calender year so it would not surprise me if that is what they are going to do. We know they are ready because they have said they were ready. We know they have minted the fils because they told us they minted the fils. We can assume that the smalls are printed because they just went through a major printing but so far have released only the replacement notes, not the new smalls. We also know based on what the CBI told us that they will delete the zeros even if the budget is not done, but will do it when the time is right. Then we just heard that the ATM'S will only be ready to do business when they delete the zeros, but are ready and in place...they can only go so far without a currency. Can you imagine with all the new laws passed and getting ready to be passed along with a budget, that they would hold for another 12 months? I personally think that it is the currency that will make it all come together. [post 1 of 2....stay tuned]
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