1-3-2016 Newshound Guru wmawhite I will repeat myself, "what do we know as fact?" Answer...the International Monetary Fund (IMF) two months ago..."he stressed that Iraq will return to economic market during the first half of next year (2016)." ...there are no smoke and mirrors...it is just everyday life as the IMF is taking Iraq by the hand and fixing problems internal to the CBI and GOI. [I guess we are at the mercy of the IMF now?] We are at no one's mercury...this is about Iraq and their future. We are here hoping to make a profit off of their good fortune.
1-3-2016 Newshound Guru mike So, there seems to be two camps in Iraq, one wants to move forward with economic and monetary reform, the other wants to maintain the status quo. Over and over again Iraq has refused to do the right thing and move the country forward, why would de-valuing the dinar be so hard to believe and accept? I'm not going to be surprised at all if Iraq drops the rate to 1400-1, I'm just betting and hoping that the good guys somehow find a way to succeed and move this country forward and talk about lowering the value and 50k's evaporate as the lower denoms come out with value under Article VIII. [post 3 of 3]
1-3-2016 Newshound Guru mike Even if they managed to coax dinars out of the mattress and lowered note count, I don't see how it's going to raise the value of the dinar based on demand, let's face it, the only place a dinar is useful is in Iraq. Until they move to Article VIII how can there be any real demand? My biggest concern right now is if Iraq begins the float without the move to Article VIII, the dinar will then probably drop to the 1400-1 rate... The only hard and true backstop Iraq has is what? The reserves. Apparently, even the Iraqi's have finally figured this out, they know, without change, the reserves will erode until there's nothing left and the country becomes insolvent. [post 2 of 3....stay tuned]
1-3-2016 Newshound Guru mike The topic of lowering the value of the dinar has been bouncing around for months now. it's not new. I know we have "assurances" from the CBI, but this move would save the GOI billions on payroll alone, and it's pretty clear what the motives of the GOI are. They have very little regard for the common man in Iraq... Instead of moving the country forward with monetary and economic reform, these guys want to beg, borrow and steal to maintain the status quo. And that's not an opinion, that's a factual statement based on the actions of the GOI for the past 5 years I've been in this "investment." [post 1 of 3....stay tuned]
1-3-2015 Newshound Guru OOTW …BECAUSE THEY HAVE MISMANAGED BANKING PRACTICES ; ALLOWED CORRUPTION TO CONTINUE VIA THE AUCTIONS...HAVEN'T SUPPORTED NOR IMPLEMENTED DEPOSITORS INSURANCE – HAVE NOT PUT IN PLACE ALL INTERNATIONALLY RECOMMENDED BANKING REFORMS...THIS IS VERY GOOD NEWS - YAY! LET'S SEE WHAT COMES OF THIS - I DEEPLY HOPE THAT THE CBI ACTING HEAD, MOHSEN, IS EITHER OUSTED OR MADE LAME - WE NEED TO SEE INTERVENTION IN THE CBI BANKING PRACTICES AND THIS ARTICLE SEEMS TO ME THAT THIS IS THE INTENTION...CONFIRMS THAT SALEH (ABADI'S ADVISOR) IS CALLING OUT CORRUPTION...AND WHAT'S MORE - THEY'RE POINTING THE FINGER AT MOHSEN/THE CBI [Post 2 of 2]
1-3-2015 Newshound Guru OOTW ....THERE WAS A PRESS RELEASE TODAY , BASED ON A BANKING CONFERENCE WHERE SALEH AND DR. HAFIZ WERE IN ATTENDANCE…SO WHAT WE HAVE HERE IS A FORMAL PRESS RELEASE FROM DR.'S SALEH AND HAFEZ - ANNOUNCING THAT THERE NEEDS TO BE MASSIVE BANKING REFORMS –AND I LIKE THAT DR. ALNASIRI IS CALLING FOR MANY, IF NOT ALL, OF THE SAME REFORMS....THIS, WITHOUT DOUBT, IN MY MIND, IS CONNECTED TO THE IMF TAKING CONTROL/AIDING THE GOVERNMENT IN INSTITUTING ECONOMIC REFORMS TO PULL THE COUNTRY OUT OF WHAT WOULD INEVITABLY BE AN ECONOMIC DOWN-SPIRAL. JUST AS IMPORTANT, THEY ARE CALLING OUT THE CURRENT ADMINISTRATION OF THE CBI… [Post 1 of 2]
1-3-2015 Newshound Guru Enorrste Article quote: “fear the economic and financial circles Iraqi that leads the Iraqi Central Bank's decision to reduce the value of the dinar against the dollar as of yesterday” the article confirms…This move is a short term strategic move, not a devaluation. I particularly liked the fact that the article states quite clearly that any talk of a devaluation is "baseless."
1-3-2016 Newshound Guru rcookie [… your opinion on the dinar starting out at its present rate and floating up on demand as people invest…is that possible?] I DO NOT BELIEVE THE CURRENT SUPEFICIALLY IMPOSED RATE WILL BE THE STARTING POINT OF A FLOAT.
1-3-2015 Newshound Guru Chattels It appears that [Guru] Kaperoni is saying that matters are so bad that something must and will be done in the area of currency reform. I wonder and doubt, but I will be pleased by any pleasant surprise. Hardly the preferred posture presented by Shabbibi, but no doubt there are a number of scenarios which may lend itself to or militate in favor of our liquidity event and we have never known the recipe(s) with any certainty. None of us much care how IT happens, only that IT does… [reference Guru Kaperoni post 1-2-2015]
1-3-2016 Newshound Guru rcookie […they have tried to sell bonds before... no takers... at 1166...] IT IS NOT THE SAME ENVIRONMENT...NOW THAT THEY HAVE MET FULL COMPLIANCE WITH ALL IMF...WB...UN MANDATES....DEFICIT REDUCTION...SUBSIDY ELIMINATION...SALARY LADDER....NON OIL REVENUE STREAMS...TARIFFS...AND COMPREHENSIVE IMF MONITORING OF ALL ECONOMIC AND MONETARY ACTIONS AND POLICY...INCLUDING FULL IMPLEMENTATION OF 2016 BUDGET DISBURSEMENTS TO ALL PROVINCES...NEW DRIVER FOR THEIR ECONOMIC AND MONETARY BUS...AND THE INTERNATIONAL INVESTMENT COMMUNITY KNOWS IT....
1-3-2016 Intel Guru Hub the imf's purpose is to insure the stability of the international monetary system. one document from 2010 states the imf wanted iraq to have a stable economy and set the value at 1166. they wanted to stop inflation and set up the govt to help pull iraq out of the pits…now its a different ball game and they are ready to go forward...so we shall see…its not reconized as an international currency, so to pay for the hotels, oil work, water systems, elecetric company, sanitation for the country, and so on and so on, they have to have a currency everyone will take...so what must happen for this to occur? Shabbs [Dr. Shabibi] said the dinar will be the most valued and thus most respected currency in the world.
1-1-2016 Newshound Guru wmawhite I have never put a lot of significance into the beginning of the new year...until now. Because of the numerous statements that have come from the CBI, IMF and WB...I truly believe that these next few weeks are very possibly going to show a huge change in the monetary policy of Iraq...and hopefully, a change in the value of the IQD...and hopefully very good things for this investment.
1-1-2016 Newshound Guru Kaperoni Article: "Electronic payment service in the whole of Iraq and the Kurdistan Region, Asia cell announces the launch of electronic payment project (Asia Money)" This article is clear confirmation that the banking system is improving in Iraq which includes full cooperation with the Kurdish region. [Guru] Enorrste was really "pumped" over this.
1-1-2016 Newshound Guru mike Press release quote: "that Iraq has revived a plan to sell bonds in the budget of two billion dollars in 2016" These guys are going to be short $40 or $50 billion for 2016 because of oil prices, $2 billion dollars is only two weeks payroll for these guys. They're putting band-aids on bullet holes, it's not enough.
1-1-2015 Newshound Guru firefly 1190 will never work to cover the budget. 1:1 won't work either. I don't do rates or dates. What I do know is that pre war the dinar was in the $3 plus range and oil was selling for 32 PB. I love that opec is decreasing production effective immediately! The higher the cost of oil, the higher the value of the currency! Hence opec cutting production effective immediately. Let's see if they activate the tariffs tomorrow [Friday] and publish the 2016 budget in the Gazette as promised. At least for me that will be a tell tale sign. Tariffs will need an international rate.
1-1-2016 Newshound Guru wmawhite Article quote: "Changing the currency and the deletion of zeros does not reduce the source of paper...what taken it is that the currency (the dinar) does not stop the replacement limits of the same categories, but will be Asaddarviat monetary larger so that the total number of papers will reach 1.18 billion paper instead of 4 billion paper..." The article...shows us that the "education" program is in progress to prepare the public for a change in the size of the IQD. the term of "note count" is being stressed so that the public which is used to carrying large amounts of notes will understand that the fewer notes will buy the same as in the past.
1-1-2016 Newshound Guru Millionday Article quote: "Zain Cash service enables the subscriber registered in the service of conversion and receive money within Iraq and across Zain Iraq network, is Zain Cash service pioneer and the first of its kind in Iraq." THEY WILL BE ABLE TO PAY THE BILLS FROM ANYWHERE -- ELECTRONIC PAYMENT IS VERY IMPORTANT AND VERY EXCITING -- NO MATTER HOW TIRED YOU ARE ON THIS RIDE -- THIS IS A WHOOOPOW. THIS OBVIOUSLY WILL OPEN NEW HORIZONS. THIS IS INTERNATIONAL COMPLIANCE. Quote: "and are subject Zain Cash service is also for all procedures for safe financial transactions in all countries of the world..." ALL COUNTRIES OF THE WORLD MEANS DEBIT CARDS BEING LOADED IMO -- THE SMART CARD AS WE HAVE WAITED FOR.
12-31-2015 Intel/Newshound Guru Poppy3 ...IT DOESNT GET BETTER... THEY CANT SAY IT ANY CLEARER. WHAT I HAVE DISCLOSED IS ALL IN INK AND STATED TO THE WORLD THAT IS LISTENING. HERE WE ARE AND THIS IS WHAT WE ARE DOING NOW. THE ONLY OFFICIAL RATE EVER MENTIONED WAS GIVEN IN OCT 2010 AND NO ONE HAS EVERY SAID A WORD DIFFERENCE. I HAVE POSTED IT AT LEAST 1000 TIMES. [reference Poppy3's previous posts 12-28-2015 & 12-29-2015]
12-31-2015 Newshound Guru Kaperoni From CBI: "Decides to re-evaluate these investment shares at the beginning of 2016 in the light of the prices traded by Iraq Stock Exchange," Iraq is running out of time. With oil at $35 and expected to maybe drop to even lower, those reserves will be gone in no time. They need currency reform now and they need to get this market economy going without delay. That being said, I am hopeful this notice is the beginning of that reform. I am optimistic.
12-31-2015 Newshound/Intel Guru Arthur In a nutshell it appears that every single element we could possibly hope to see has and is happening in real time. The Hydrocarbon Law governing funds distribution along with the requisite taxes and tariffs are imminent within the next 48 hours. We are witnessing the perfect storm that we have always dreamed of for a reality rate for our investment literally any day now. The security picture couldn't be better as what you are getting is at least 8 days behind reality so consider it done. In the words of the late Michael Jackson: THIS IS IT!
12-31-2015 Intel/Newshound Guru Poppy3 [From what I found out is ...the (CBI) closing of 3 days ... happens every year ... per say ... is caused by ANNUAL INVENTORY ... PER DOLLARS AND IARQI DINAR ...] STRANGE NEVER CLOSED BEFORE FOR 3 DAYS ON NEW YEARS...REMEMBER I BEEN HERE 12 YEARS. NEVER HAVE THEY ANNOUNCED A CLOSING BEFORE.
12-31-2015 Intel/Newshound Guru tman23 The Finance Minister uses the USD petro dollar to buy IQD from the CBI to pay for salaries etc. There is a BIG domino effect that goes along with revalue or either devalue. Over the years we have debated, argued, and highly contested the opinions of others on how the monetary change will be introduced. The only thing we know for a fact is the "project to lift the 3 zeros" was given the green light this past spring AND the time for the optimum time for the 3 zeros to be lifted is at the start of the New Year. Interesting week INDEED! Will you be seeing 67 cents... or $1... OR $3 plus...OR a ZONK!
12-31-2015 Intel Guru TD If these moves prove results then the IMF will help Iraq orchestrate the long awaited "deletion of the zeros" ( or) LOP. The IMF has made it clear during these talks that the LOP and dramatically reducing the money supply is the ONLY way forward for them to have a real and stable monetary program. Again as my amigo stated before it is still on the table that Only notes inside Iraq will then be allowed to exchange for the newer notes. This process is still scheduled for the second half of 2016 to start BUT progress on ISIS and IMF imposed conditions are prerequisites. [post 2 of 2]
12-31-2015 Intel Guru TD Important comments from my Kurdish friend ( you can treat all as rumor and please due your own sound diligence ). 2016 is a make it or break it year for Abadi's survival. In particular the 1st half and progress in the war against ISIS is job número uno. Monetary reserves have evaporated and the IMF is now at the helm of monetary policies to be executed in exchange of the bailout Iraq is receiving from them. Parliament and CBI have agreed to implement whatever reforms the IMF requests. Inside word is that the IMF too has at its highest priority the transformation measures of Iraq into a diversified market driven economy and so the next few months will be very telling of investment policies and mechanisms that will be established. [post 1 of 2....stay tuned]
12-31-2015 Newshound Guru Kaperoni Article quote: "Decides to re-evaluate these investment shares at the beginning of 2016 in the light of the prices traded by Iraq Stock Exchange," I talked to a broker a few minutes ago, he stated it sounds like efforts are being made to reprice shares to provide some source of security or stability to the investment community. He said the question is are they pricing in dollar or dinar? If it is dinar, which is what we expect, we may see some change to the dinar then.
12-31-2015 Newshound Guru rcookie SOME MORE POSITIVE INDICATORS TO THE CURRENT ENVIRONMENT...IRAQI REPORTS THIS MORNING OF 425 SHIPS/TANKERS IN 2 MONTHS FROM A PLETHORA OF COUNTRIES... KUWAIT... UAE...DENMARK...LIBERIA...INDIA... MANILA...SINGAPORE... VIET NAM...WITH ADDITIONAL REPORTS OF PORT ACTIVITY VOLUME TO INCREASE DRAMATICALLY AT START OF NEW YEAR...WITH ALL THE NEWS AND REPORTS OF CUSTOM TARIFFS IMPLEMENTATION TO ALL PROVINCES AND MEETINGS ONGOING BETWEEN ERBIL AND BAGHDAD...AGREEMENTS WITH BORDER NATIONS FOR TARIFF IMPLEMENTATION...THE "IN INK" INCLUSION OF TARIFFS AS 2016 BUDGET REVENUE STREAM...THE ADOPTION OF MARITIME AND ENVIRONMENTAL LAWS... ME THINKS ALL THE I'S BEING DOTTED...T'S CROSSED...IF YOU LISTEN REALLY CAREFULLY...YOU CAN HEAR THE NEW IRAQI ECONOMIC ENGINE STARTING. WE ALL HAVE FRONT ROW SEATS FOR THE HISTORY THAT IS UNFOLDING!!
12-30-2015 Newshound Guru sczin11 Article: "Trading on the shares of the company's financial Sama Baghdad convertible launch as of Sunday session 01.03.2016" THIS MAY BE THE BIGGEST NEWS WE HAVE SEEN TO DATE...IF TRUE, AND MORE IMPORTANT, IF I UNDERSTAND WHAT THIS IS SAYING...ONE CAN ONLY ASK, WHY? ALMOST 1 YEAR AGO, WE SAW THE APPROVAL OF ABOUT 8 MONEY TRANSFER COMPANIES, TO BE LISTED ON THE IRAQI STOCK EXCHANGE...WELL, THIS APPEARS TO BE ANNOUNCING THE START OF TRADING FOR ONE OF THESE COMPANIES, ON SUNDAY...JANUARY 3, 2016.
12-30-2015 Newshound Guru Millionday Article quote: "FinanceMinister Hoshyar Zebari, on Monday, that Iraq has revived a plan to sell bonds two billion dollars in the budget of 2016" BONDS ARE GOING ON THE MARKET THIS COMING YEAR --- THEY ARE HUGE IN THE PROGRESS OF IRAQ AND SUPPORTIVE OF A HIGHER VALUE FOR THE COUNTRY ACCORDING TO THE REPORTS.
12-30-2015 Newshound Guru wmawhite [...they are trying to stop the use of usd in iraq?] This has been the effort/the plan from the beginning and all of these laws and all of the IMF/WB efforts has been toward a "Market Economy" wherein the sole currency that Iraq conducts business with. [do u think the tarriffs and taxes will happen this time?] Well...some people in Parliament think so and the 2016 budget will not work without those revenues. [when you see the tariffs and taxes you will see a rate change too.] Possible...it does make sense...makes sense that change must come soon...
12-30-2015 Newshound Guru Kaperoni Article: "Parliamentary Finance reveal activation of customs tariffs starting from next Friday" Keep in mind next Friday means this Friday which is Jan 1st. The same time the CBI said they were going to "re-evaluate investment shares at the beginning of 2016"
12-30-2015 Newshound Guru rcookie [we see tariffs and taxes we will see the RV.] THE EVIDENCE IS CLEAR OF THE GOODS READY FOR INTRODUCTION TO ECONOMY WITH TARIFFS IMPLEMENTED...PRODUCT QUALITY INSPECTION MECHANISMS IN PLACE...SO RETAIL PRICING ADJUSTMENTS INCORPORATED AND PASSED ON TO CONSUMERS...SO INCREASE IN PURCHASING POWER MUST PRECEDE...AND THE FACT THAT THE BUDGET RELIES HEAVILY ON TARIFF REVENUES...WITH THE IMF DRIVING THE BUS... I THINK IT IS TIME.
12-30-2015 Newshound Guru Kaperoni CBI Announcement quote: "Decides to re-evaluate these investment shares at the beginning of 2016 in the light of the prices traded by Iraq Stock Exchange," This does sound good.
12-30-2015 Intel Guru EXOGEN ...Iraq will become the new global "OIL KID ON THE BLOCK" soon. Iraq is now approaching Stability for complete Monetary Reform Implementation. The Release & Distribution Lower Denoms in Iraq will be the global indicator of the rate adjustment of the currency.
12-30-2015 Newshound Guru Millionday "...asia cell mobile phone service, announced the launch of electronic payment (Asia Service Money project), in the whole of Iraq and the Kurdistan Region..." ELECTRONIC PAYMENT IS SET UP ALL OVER THE COUNTRY OF IRAQ AS OF TODAY THROUGH ASIA CELL. THEY MAY PAY THE BILLS THROUGH ASIA CELL AND HAVE BEEN GIVEN INSTRUCTIONS -- THIS IS THROUGH ELECTRONIC CREDIT CARDS -- WHOOOPOW. THAT WOULD LEAD ME TO BELIEVE THAT THEY WILL BE INTERNATIONALLY RECOGNIZED THROUGH ECONOMIC LOGIC BUT HAVE TO WAIT TO INK.
12-30-2015 Newshound Guru firefly [...this is all planned!! everything!!] Of course it's a plan, I proved it to you guys many times. [well hope the plan has a very soon ending.] I'm not hearing of ANY stumbling blocks .... nada. Like I've said, EVERY PLAN HAS AN END! [and we are at the end!] IMO YES!! Remember also, the CBI has told us recently the project to delete zeros is still planned for 2015. Why is this important? Because every time they delayed this project they told us 3 months in advance. NOT THIS TIME!
12-30-2015 Newshound Guru Kaperoni The federal budget of the Republic of Iraq for fiscal year 2016: "Article 53: This Code shall be published in the Official Gazette and put into effect as of January 1st 2016. Reasons: This Code has been legislated to approve The Federal Budget of the Republic of Iraq for the Fiscal Year 2016."
12-30-2015 Newshound Guru Millionday ANNOUNCEMENT FROM CBI: "To / all licensed banks and money transfer companies approved all and the financial investment companies approved all and brokering the sale and purchase of foreign currencies approved all companies (foreign exchange rate) 12/28/2015" IMO IT MEANS THAT THE REGULATIONS HAVE BEEN ACTIVATED AND ONLY MONEY EXCHANGERS AND BANKS CAN EXCHANGE CURRENCY -- THE NOTICE IS TO ALL THAT HAVE BEEN LICENSED. THE MARKET IS CLOSED RIGHT NOW THERE AND IT OBVIOUSLY IS VERY EXCITING TO SEE THIS FROM CBI.
12-30-2015 Newshound/Intel Guru BGG Did you guys catch the Iraqi Ambassador to the US on Fox tonite [Tuesday]...It looks like the world is ready to welcome them into the world community.
12-30-2015 Newshound Guru mike It won't work anymore, they can't generate enough money from oil to control everything, those days are gone. Until Iraq can release the constraints on foreign investment, create an open market economy and allow the currency to be internationally accepted, we're going to continue to watch the slow death of Iraq's economy and it's ability to pay the salaries of it's people. Even if reforms, laws and legislation magically happens tomorrow, it's going to take a considerable amount of time for it to take effect and move the country forward. In the mean time, these guys are spending the reserves like a sailor on shore leave. It's like watching a car wreck in slow motion, these guys just don't get it. IMO [post 2 of 2]
12-30-2015 Newshound Guru mike Article: "Iraqi state is facing the threat of bankruptcy next year" For what it's worth, I just don't know how much effect the IMF's going to have on the situation in Iraq. Can the IMF pass the needed laws to create an open market economy? Can they charge, prosecute and imprison the elite who are responsible for scamming the auctions? Can they craft the legislation and get it through Parliament relating to the long overdue banking reforms? Iraq has known for over a year now that oil wasn't going to be enough to make payroll, fund the infrastructure projects and fight the war against ISIL and what have they done? Not much. There's been a few laws passed but in the end, Iraq is still holding tight to the old, centralized, government controlled systems they've had for years. [post 1 of 2....stay tuned]
