6-23-2015 Newshound Guru Aggiedad77 Article: "Deputy: the deletion of zeros from the currency and a national project" Word of CAUTION here...don't just read the 2017 date and freak out...this project of the deletion of zeroes is an ongoing part of the MR...trust in this...yes they have said it could take upwards of 2 years to complete...but the lava flow is moving as we speak today...note too they talk of pulling old currency back in over a 10 year period...they are working in a very focused way to make all this happen...working in the face of adversity as there are those from a political standpoint who do not want to see this happen...these speed bumps must be overcome as they keep pushing the flow forward.
6-23-2015 Newshound Guru Kaperoni it is nice to read that they will honor the larger 3 zero notes for 10 years again. That should give us plenty of time to watch the dinar rise once it starts to decide where and how we will exchange these notes...for sure the can has been kicked down the road starting back in 2012. But I believe that if they do issue the larger 50k note, the process is then non-reversible... because once they start reducing the physical note count there is no turning back. Hopefully I am correct and this project will finally get started so we all can relax and watch Iraq and the dinar prosper. The dinar float must start well before 2017 (probably early to mid 2016) in order for the rate to reach a point where a 50, 100, and 200 dinar note would be of use in the market (IMO around .10 cents). [post 2 of 2]
6-23-2015 Newshound Guru Kaperoni Article quote: "...delete the zeros of the Iraqi currency and a national project to feminine Iraqi currency, likely work on the project early in 2017." Though hearing 2017 is not good, this is a really good article. It once again confirms no LOP (a LOP would require all denominations to come out at the same time). It also confirms that the issuance of the 50k will move the process forward to delete the zeros. It also confirms that the rate must rise to at least a point where a 50, 100, and 200 would have usage (which IMO is about .10 cents). So this is more confirmation that the CBI plans to delete the zeros gradually, raise the value of the dinar, and begin doing so after they reduce the physical note count with the issuance of a 50k note (if they do this at all). [post 1 of 2....stay tuned]
6-23-2015 Newshound Guru Aggiedad77 Article: "Why will deteriorate dinar? .. Economists discuss pumping the dollar in the markets, policy" Some economists say the dinar will deteriorate...some say that it is going to improve...my opinion says that if they can keep the politicians out of the mix that the dinar will see improvement, let the CBI do what they do best which is money management...if there are money launderers in the mix take care of them, point fingers at them, charge them, and get them convicted...same with smugglers...can't have either...And as far as corruption goes...please turn it over to the Integrity Commission and let them put their detectives on it...just focus on what should be in the best interest for Iraq and what follows from that will prove to be a great thing for the world as well.
6-23-2015 Intel Guru Frank26 WHAT IS ON THIS CHECKLIST IN JULY? Me personally, I’d like to stick in my vote: 1 – I want the governor as quickly as possible – only Shabibi. 2 - Bonds with a soluble rate. 3 - The 50 and 100 new currency (don’t confuse the 50K and 100K notes that are a completely different subject...there is no such animal…you’re saying they’re going to replace them but there isn’t any – it’s just the 50 and 100. 4 – Master Cards and Visas and many different kinds of cards 5 - Salaries 6- Lower denom’s 7 - Look the 7th of the 7th of the 7th...is CREDIT RATING. These are the 7 things for July and it’s not even far-fetched...if it’s really not going to happen this month, may we say forget about it? No, no! Move into the next month because it’s the lava flow...They have no liquidity, therefore, no value and yet they have assets...4 million barrels of oil are produced a day is an insult to an IQD of 1166. The RATE IS WRONG for what’s happening in Iraq!
6-23-2015 Newshound Guru sczin11 LOOK AT THE QUANTITY OF FINANCIAL, MONEY, BANKING, ARTICLES AND TOPICS HAVE BEEN RELEASED IN LAST MONTH...MIND BOGGLING TO SAY THE LEAST...DINAR EXCHANGE VALUES UP AND DOWN AGAINST THE US DOLLAR, NEW LARGE DENOMS BEING ISSUED AND DESIGNED, FINANCE COMMITTEE STATES THIS, CBI STATES THAT, POLITICAL DIGNITARIES POINTING FINGERS, CRISIS CELLS DEMANDING EXPLANATIONS, CORRUPTION, MONEY LAUNDERING, BANKS SUSPENDED FROM AUCTIONS, THEN REINSTATED...NO AUCTIONS, HIGH AUCTIONS, NO TAX ON EXCHANGES, BANKS OPEN ON SATURDAYS WITH 4 DAYS NOTICE TO GET WORK SCHEDULES IN PLACE...NEED I GO ON... GET THE PICTURE...CALL IT DIVERSION...CALL IT A COVER UP...SOMETHING IS HAPPENING...OH AND WAIT...DR. SINAN AL SHABIBI, SPEAKS AFTER SIX MONTHS OF SILENCE, SINCE HIS ACQUITTAL! HAVE WE HEARD ANYTHING FROM THE BANKS IN MOSUL SINCE JUNE 10, 2014, OTHER THAN ROBBED, CLISED DOWN, CONTROLLED BY ISIS, ISIS MONEY BEING USED...AND TODAY WE HEAR FROM THE BANK OF JORDAN, REFERRING TO INTERVIEW OVER A MONTH AGO...WHY MY FRIENDS? [post 2 of 2]
6-23-2015 Newshound Guru sczin11 JORDAN BANK IN MOSUL STATES BUSINESS AS USUAL...MULTIPLE RELEASES AND VIDEO INTERVIEWS, THAT BANKS ARE OPERATING IN MOSUL, LIKE NORMAL! ...WHY IS THIS SUCH IMPORTANT INFORMATION? MANY HAVE CLAIMED NO potential change in value UNTIL ISIS OUT OF MOSUL...MANY HAVE STATED EITHER MOSUL BANKS WERE CLOSED OR RUN BY ISIS... MANY HAVE STATED WHY WOULD CBI potential change in value AND GIVE ALL THAT MONEY TO ISIS SINCE MOSUL IS RUN BY THEM...MANY HAVE STATED ISIS IN SUCH CONTROL OF THE COUNTRY THAT MR CAN NOT BE COMPLETED...WE HAVE HEARD REPORTS OVER LAST MONTH THAT MOSUL WOULD BE, IS, OR WILL BE LIBERATED SHORTLY...HEARING AND READING ALL THESE RELEASES, IS CONFIRMATION TO ME, THAT ISIS IS NOT HINDERING THE COMPLETION OF THE MONETARY REFORM...JMHO. LIKE MOST EVERYTHING ELSE WE READ, THE NEWS HAS HAPPENED, PAST TENSE...SO THE QUESTION REMAINS, WHY RELEASE THIS NOW? MORE DIVERSION FOR SOMETHING BIGGER TO HAPPEN OR BE RELEASED, THAT SEEMS TO BE LOOMING IN THE LIMELIGHT... [post 1 of 2....stay tuned]
6-23-2015 Newshound Guru Millionday "The Exchange Rate of Foreign Currency in Economic Feasibility Studies" I WANTED TO LOOK AT WHAT IS BEING USED TO DO THE CALCULATION...UNDERSTAND I AM SHOWING YOU WHAT IS BEING DISCUSSED BUT NOT IS ONLY DISCUSSED--BUT--PLANS STATED--AND THIS DISCUSSED IS ACTUALLY--THE REALITY OF IT ALL. Quotes: "Justifications for exchange-rate adjustment: ...It is demonstrated in this context to call for assessing the dinar for less than (3.208) dollar (official exchange rate) when assessing project outputs and inputs of traded goods..." "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." we have never seen any kind of calculation at any time. [so r they saying 3.208 or 1.13?] THEY ARE LISTING JUSTIFICATIONS -- NOT ACTUAL -- JUST WHAT COULD BE AND WHY ETC -- NO GUARANTEES.
6-23-2015 Newshound Guru wmawhite [can Abadi pull this off without CBI cooperation?] The CBI carries out monetary policy set by the government...in addition to enhancing and protecting the value of the currency. Two separate missions.
6-23-2015 Intel Guru Frank26 The governor is about to be put BACK in...Dr. S [Shabibi] is a head of the CBI...and has no intention of stopping it because he put this whole thing together in the first place...Dr. S has done a wonderful job...Security is being done. You would not want Dr. S to raise the value under the condition if the banks were not safe. Dr. S doesn’t want to endanger his banks – they’re going to be extremely important and IMO, he got the banks back that he wanted, IMO. Security within the governorship of the CBI is the next chapter IMO. ...this is the meat of what’s going on right now. The substance of the governorship of the CBI. Everybody’s looking at the CBI and now it’s time to look at the leader. GOVERNORSHIP MUST NOW BE SECURED. Iraqi is getting ready for the monetary reform. The pressure is on Abadi – to give us the opportunity to bring forth the true governor of the CBI – the IMF wants this...
6-23-2015 Newshound/Intel Guru BGG [Rumor has it, Maliki will be indicted in an international court...?] according to reports - that is accurate...and I am commenting on reports only. [If so, could that trigger a replacement in the CBI very soon?] IMHO - they are parallel events...Does not feel as though one depends on the other.
6-23-2015 Intel/Newshound Guru tman23 [can they postpone tariffs again, also how can tariffs be imposed expecting people to pay more without purchasing power?] They can do anything they want...they are sovereign... The better question is what can they afford to do or not do? Answer: They can not afford to invest in projects...And as for not doing...They can not afford to stay in the current status quo for another 6 months.
6-23-2015 Newshound Guru Millionday THEY HAVE WORKED HARD TO MAKE SURE THEY CAN GET A HIGH CREDIT RATING BY PAYING DEBT AND THE MAJOR IMPORTANCE THEY MADE IN IT. [so with their strength in oil, gold etc, would it not be feasible they would be at least a BB or higher?] THE REPORTS WE HAD DURING THE WEEK WERE ADDRESSING THEIR CAPABILITIES -- SO YES IT APPEARS THEY ARE TAKING INTO ACCOUNT EVERYTHING AND NOT JUST THE ACTUAL. I AGREE...THEY ARE HOPING FOR A BB OR HIGHER. [Do they have to have a credit rating to rv?] THEY NEED CREDIT RATING TO SHOW WHAT CONFIDENCE THE CONTRACTORS AND DEBTORS CAN HAVE IN IRAQ-- HIGH CREDIT RATING MEANS -- CONFIDENCE IS HIGH. [can they rv before credit rating?] I DON'T KNOW -- THEY COULD HAVE JUST ONE STEP IN THE MIDDLE OF EVERYTHING -- WE DON'T KNOW WHEN... [post 2 of 2]
6-23-2015 Newshound Guru Millionday Article quote: "in the past week took place in Istanbul intensive meetings with two of the three for" credit rating "{" Fitch "and" Moody "} global institutions." IN THE PAST WEEK NOT JUST MEETINGS -- INTENSE MEETINGS -- GLOBAL... THIS IS ALSO VERY IMPORTANT TO THE INTERNATIONAL BANKS. Quote: "The objective assessment credit situation of Iraq, which is the "Unclassified" {NR, Not publicly rated}, and this is less so from lower grades D .. The highest grades are AAA." IRAQ`S RATING RIGHT NOW IS UNCLASSIFIED -- THEY NEED ALL THREE...THIS IS VERY IMPORTANT AND OF COURSE ONE OF THE LAST THINGS THAT HAS TO BE DONE TO GO TO THE MARKET ECONOMY -- GLOBAL... [post 1 of 2....stay tuned]
6-21-2015 Newshound Guru Kaperoni IMO if they issue the 50k notes the clock for currency reform has then started. Why? Because they will reduce the note count by 50% (over a period of a few months) and that means they are in a position to begin the process to delete the zeros. If they don't, IMO it would create a new set of monetary policy concerns. Especially since they said they will destroy the notes exchanged for this new larger note. There is no go back at that point. I still hold out hope the 50k comes out sooner than later...but if we have to wait to mid 2016 to see the dinar begin to rise, so be it. ...they have made it very clear these notes will not just exist in the money supply...they are for purchase. Meaning you will have to give up two 25k notes to get one 50k. of five 10k notes, etc. this will not reduce the money supply, but will substantially reduce the amount of paper.
6-21-2015 Newshound Guru Chattels [Do you think the current leadership is capable of turning the corner over there?] it occurs to me that the corner was turned with the " seating " of a government under Abadi and with the ostensible peaceful transfer of power - we are in the stretch - hoping that the Abadi horse does not break down before the finish line.
6-21-2015 Newshound Guru sczin11 [Do you think the current leadership is capable of turning the corner over there?] THE ABADI REGIME, IMHO, HAS ACCOMPLISHED MORE IN 10 MONTHS, PROGRESSIVELY, AS FAR AS IMPLEMENTING ER AND MR, AND BRINGING IRAQ TO A SOVEREIGN DEMOCRATIC SOCIETY, THAN THE PRIOR REGIME DID IN 8 YEARS. IMHO, WE NEED THE CURRENT ACTING PROXY GOVERNOR OF THE CBI REMOVED.
6-21-2015 Newshound Guru Kaperoni From Investopedia...DEFINITION of 'Sovereign Credit Rating': The credit rating of a country or sovereign entity. Sovereign credit ratings give investors insight into the level of risk associated with investing in a particular country and also include political risks. At the request of the country, a credit rating agency will evaluate the country's economic and political environment to determine a representative credit rating. Obtaining a good sovereign credit rating is usually essential for developing countries in order to access funding in international bond markets. [post 2 of 2]
6-21-2015 Newshound Guru Kaperoni Anyone see that Iraq expects a credit rating next month? [see definition of "Sovereign Credit Rating" in part 2 of 2] I did a bit of looking into this... The credit rating is important because Iraq wants to sell bonds to cover the deficit. If anyone would want them. ...the dinar is convertible now. Since they are in Article XIV, it does not prevent them from trading or convertibility. That being said, many merchants, and banks refuse to deal with them under that condition...its really a choice by the bank or merchant if they are willing to engage with Iraq while the CBI is under Article XIV. That would change if the CBI met the conditions to move to IMF Article VIII...Which is the international standard of acceptance. Banks, merchants would welcome transactions, etc. once they meet that standard. That being said, Dr. Bakri, a very well known economist in Iraq stated to me that currency reform would occur before the CBI would ever meet Article VIII. So Article VIII is not something we necessarily need. Hopefully we will see the dinar appreciate long before the CBI moves to Article VIII. [post 1 of 2....stay tuned]
6-21-2015 Newshound Guru Millionday [What about the amnesty law? has that gone through?] THE AMNESTY LAW IS IN PARLIAMENT. [PARL NOT DUE BACK TILL JULY 1? ANY TALK ABOUT SPECIAL SESSIONS?] THEY HAVE BEEN GIVEN 30 DAYS OF SPECIAL SESSIONS BUT NOT SURE WHEN THAT ENDS. [Didn't the investment law have two or three readings already...?] YES IT HAS AND IN FACT IT HAS BEEN REPORTED IN SOME REPORTS TO BE DONE. [Any more updates on HCL?] THEY ARE USING THE OIL AGREEMENT WITH IRAQI FEDERAL AND ERBIL --- THROUGH MOSTLY WHAT WAS ACQUIRED FROM 2011 ISSUE -- AND WORKING ON ANY CHANGES IN FUTURE LAW ...THIS IS NOT UNUSUAL FOR NATIONS TO BE CHANGING AND REFORMING LAWS. [post 2 of 2]
6-21-2015 Newshound Guru Millionday "Published (range Press) draft law of the National Guard in Iraq and amendments made to it by the political blocs, the following is the text of the draft. Based on what passed the House of Representatives and approved by the President of the Republic and based on the provisions of the first item of Article 61 and Item III of Article 73 of the Constitution. Issued the following law National Guard Law." THIS IS SAYING THAT THE NATIONAL GUARD IS TO RECEIVE THE RIGHTS AND PRILEGES LISTED IN THE LAW BY BEING IN THE SERVICE AS WITH ALL SERVICE BRANCHES... [National Guard law passed?] YES AND AMENDMENTS. [What does this law have to do with the Dinars?] THE NATIONAL GUARD IS USED FOR MUCH OF THE SECURITY ON BORDERS AND MANY OTHER AREAS -- IT IS A HUGE LAW FOR THE SECURITY OF IRAQ AND THE CONFIDENCE OF INVESTORS AND CITIZENS ETC. [post 1 of 2....stay tuned]
6-21-2015 Newshound Guru wmawhite For sure...there is a lot happening and Iraq is involved in many discussions with many countries. The CBI will proceed in a manner to carry out the policies of the GOI. This (what we want) is NOT single faceted. It is very involved and is tied to the outside world currency markets. ...what we see and read about, on the streets, market rate, is not the yet to be announced international value of the IQD. Instead, the GOI is preparing the citizen for what they will carry in their pockets. What we want is not spoken about openly. Let me give you an example...the CBI informs all banks in Iraq to start paying foreign bills (remittances) in IQD instead of USD. And that the exchange rate/value will be XXX IQD for every 1 such and such. What is this? This was an example of a change in value of the IQD...how can and why would Iraq want to cut any country out? Instead, they will want all of the world to participate. We are blessed to be sitting on this...it still applies...it has never been about if...instead, we wait on when.
6-21-2015 Newshound Guru Kaperoni [Just curious as to your thoughts on all these American companies being awarded multi million dollar contracts in Iraq for various products and services.] With Iraq having no free market economy, nobody is going into Iraq until the laws and banking system are in place to support it. If your talking about oil contracts, yes companies are working in Iraq and paid in US dollars. Iraq though as of late has had issues paying these companies and some are accepting oil now as payment.
6-20-2015 *** Dinar Guru Update *** With all the hoopla surrounding the dinar these past few weeks...it's a good idea to get back to basics.
If you're new or even if you've been around a while, head over to the Start Here tab at the top of this page and take the refresher...the dinar myths inside
Dinar Guru Exposed is a great place to start...the latest guru post will continue below.
6-20-2015 Newshound Guru Enorrste In my view they should return to the auctions with no limits, for the time being. This will increase confidence in the dinar as the CBI becomes more "transparent" rather than "hamstrung." They should also issue the larger notes sooner rather than later. This will allow a reduction in the money supply which will have a positive affect on the value of the dinar. It will also offer a counterpart to the American $50 and $100 which seems to be a problem for the locals (according to Saleh and others). Finally, as the value begins to come back, they should change the exchange rate regime while it is moving upward. This will encourage more trade in the dinar and a faster rise in its value. [post 2 of 2]
6-20-2015 Newshound Guru Enorrste Article: "Central Bank current problems as a result of the loss of independence" I am encouraged that Shabibi stepped into the argument, finally. We now have Shabibi, Saleh, and Abadi on one side and, presumably, the CBI and possibly Maliki backing the play, on the other side. The real question here isn't what Shabibi has said: that is all old news to us. What is the question is whether his entry into the discussion will move the ball forward. Even though he is out, he still carries a very big stick. He also has the backing of the IMF, totally. Therefore, it would not surprise me if some new "policy decisions" came out from the CBI shortly (of course the advent of Ramadan may make "shortly" last over 30 days!). It is clear to me that what Shabibi has stated is absolutely accurate: the meddling of the GOI and Parliament into CBI monetary policy has caused the problem that exists today with the wide spread. Whether Allaq has the knowledge or courage to take the proper corrective measures remains to be seen. [post 1 of 2....stay tuned]
6-20-2015 Newshound Guru Aggiedad77 We have PM Abadi speaking this week, we have Dr. Shabibi practically crowing this week, now we have Dr. Saleh wrapping up the week with his ideas on more good news.....rest easy.
6-20-2015 Intel Guru Frank26 They are working the MR in this method: Credit Rating to LDs for next month ... Many are excited and FUELED for they are pegged to the IQD... As this leads to Article 8 compliances.
6-20-2015 Newshound Guru Millionday NOTE --- ABADI IS HOLDING A HUGE PRESS CONFERENCE IN THE MORNING [SATURDAY] ABOUT IRAQ ECONOMY.
6-20-22015 Newshound Guru sczin11 AMNESTY LAW IS BEING PUSHED HARD FOR APPROVAL, EVEN BEFORE PARLIAMENT RESUMES ON JULY 1... EVEN REPORTS TODAY, STATING IT WILL BE APPROVED BEFORE EID, END OF RAMADAN...THEN WE HAVE PUBLISHED THE AMENDED NATIONAL GUARD LAW....HMMMM...WHY? WE DONT USUALLY SEE THE LAWS IN PRINT, BEFORE THEY GO TO THE HOUSE FOR READING AND VOTES...A MEETING WITH IRAN, DURING ALL THESE HAPPENINGS? And... INK THAT STATES ALL THE RHETORIC ON THE ISSUING OF THE LARGE DENOMS, 50 AND 100 K NOTES, WAS JUST THAT, THEY HAVENT BEEN EVEN DESIGNED YET...AND TODAY, THE NEW STATEMENT BY KEYWORDS, IS THEY WILL COME OUT BY END OF YEAR, AND 100K PROBABLY WILL NOT COME OUT...BY THE END OF THE YEAR HE STATES...IS THAT BECAUSE IT GIVES ENOUGH TIME FOR HIM TO BE REMOVED, AND THE NEW GOVERNOR INSTALLED...AND HENCE NO ISSUANCE OF THEM, THE LARGE NOTES, AT ALL...AND, DO NOT MAKE LIGHT IF THE APPEARANCE THIS WEEK, OF DR. SINAN AL SHABIBI, WITH THAT LONG, DETAILED, REPORT...THERE ARE REASONS AND PLANS..... WHAT DO YOU THINK? [post 3 of 3]
6-20-2015 Newshound Guru sczin11 IMHO, THE PREVIOUS STATEMENT JUST ABOVE, INDICATES A REDUCTION IN THE VALUE OF THE IRAQI DINAR IN CIRCULATION BY ABOUT 40%, SINCE BEGINNING OF THE YEAR WHEN RESERVES WERE STATED AT $80 BILLION...KEYWORDS CONTINUES TO STATE THAT THE THE PRICE OF GOODS TO THE CITIZENS WILL DRASTICALLY BE REDUCED IN A FEW DAYS (indicates increased purchasing power for the importers) AND IN SAME SPEECH, STATES OIL PRODUCTION HAS INCREASED...THIS IS MORE NEWS IN ONE RELEASE BY THE ACTING GOVERNOR OF THE CBI, THEN WE HAVE SEEN IN TOTALITY OVER THE LAST 10 MONTHS...THE MEDIA COVERAGE OF THIS PRESS CONFERENCE WAS HUMONGOUS... THERE ARE MANY MANY VERSIONS, SOURCES, AND OPINIONS...REMEMBER FOLKS, NEWS IS PAST TENSE IN MOST CASES...IT IS INFORMATION ON WHAT HAS ALREADY OCCURRED... [post 2 of 3....stay tuned]
6-20-2015 Newshound Guru sczin11 WHAT IS GOING ON? CBI GOVERNOR IS ALL OVER THE PLACE! KEYWORDS THIS, KEYWORDS THAT..CAN YOU SAY..THE STUFF IS ABOUT TO HIT THE FAN? BIG RELEASES FROM THE GOVERNOR OF THE CBI TODAY, SATURDAY...THE FIRST SATURDAY BANKING DAY IN IRAQ, AND THE DAY BEFORE THE EMERGENCY FINANCE COMMITTEE MEETING...AND TWO DAYS AFTER THE COM CRISIS CELL MEETING...HE ADMITS BEING UNDER PRESSURE...HE STATES INFLATION IS NEGLIGIBLE...HE CONFIRMS REMOVING THE 8% TAX ON CURRENCY EXCHANGE EFFECTIVE TOMORROW, SUNDAY, JUNE 21, 2015...( when in fact, earlier in the week, it was announced July 1)...HE STATES MONETARY PLAN MODEL NEEDED FOR currency IN THE COUNTRY...HE CONFIRMS $68 BILLION IN BANK RESERVES...HE CLEARLY STATES THE RESERVES CAN COVER THE DINAR EXCHANGE RATE CONVERSION, BY 2 TO 1... [post 1 of 3....stay tuned]
6-20-2015 Newshound/Intel Guru BGG [We think that the solution to all their problems is the same solution to all our problems (i.e., increase in currency value)...obviously not the case. The politicians and bureaucrats seem to be comfortable in maintaining a status quo there that to us is haphazard at best. Who benefits...maintaining the status quo regardless of how meat headed it all is?] the main benefactors of "status quo" are...Iran...Maliki... Alak... various political entities who benefit in the current woeful situation. who stands to gain from changing the "status quo"? everyone else. (this includes you, me...and everyone in Iraq)...and since MR [Monetary Reform] in Iraq will obviously have some impact on their neighbors...ask yourself why they are meeting with Iran, Turkey, the Saudis, Kuwait... in Jordan ( who BTW have offered SF troops)...ask yourself why all these "meetings" while they obviously have other very important priorities in their western provinces?
6-20-2015 Newshound Guru My Ladies I AM NOT SAYING I KNOW WHEN THIS WILL HAPPEN BUT I INVESTED IN THE DINAR AFTER CAREFULLY LOOKING AT IT AND REALIZING THAT WHAT GOES DOWN WILL EVENTUALLY CLIMB BACK UP. IF WE LOOK AT ALL THE BASEL REQUIREMENTS AND THE MASSIVE CHANGES TAKING PLACE IN THE MIDDLE EAST AND EUROPE TODAY RIGHT NOW AND WE CAN SEE OUR INVESTMENT IS SOUND. EMERGING MARKETS ARE TAKING THEIR PLACE AND IRAQ IS NO DIFFERENT, THEY HAVE A WAY TO GO YET I THINK BUT THEY ARE FOLLOWING ALL REQUIREMENTS SET FORTH BY THE IMF AND OTHERS. HOW WILL ALL MARKETS CORRECT AND EMERGE AND IRAQ REMAIN IN NEUTRAL? I DON’T THINK IT CAN. JUST LIKE ANY THING ONE MIGHT BE INVESTED IN, STICK WITH IT, THIS WAS NEVER INTENDED TO BE A GET RICH QUICK SCHEME. WE HOLD ACTUALLY CURRENCY IN OUR HANDS AND HAVE EVERY REASON TO EXPECT IT WILL RETURN TO ITS VALUE ONE DAY.
