What I heard

[dinarbeleiver]

Thanks GregHi - I am wondering maybe the articles talking about Kurdistan having their own currency has been a result of that meeting. One thing something has to give

[CaptainBVI]

You have to wonder how much dirt, Maliki has on the 3 presidents or this would have been over long ago.

[SnowGlobe7]

Thanks greg...we all appreciate the time you take to get the information and then to post it.

 

I hope the Kurds so not make the deal with Turkey..Turkey just can not be trusted...and they tend to lean toward the dark side...

[umbertino]

Thanks greg...we all appreciate the time you take to get the information and then to post it.

 

I hope the Kurds so not make the deal with Turkey..Turkey just can not be trusted...and they tend to lean toward the dark side...

Yep--And the Turkish Establishment (Erdogan esp.) happens to HATE the Kurds anyway

Edited January 26, 2016 by umbertino

[SnowGlobe7]

I think Turks hate everyone Umbert... 

[caz1104]

Yo SG7!!!

 

Howz the jobhunting coming along?

[SnowGlobe7]

ugh nothing as of late....I am still looking

[caz1104]

What field of expertise? If ya don't mind me asking? If so disregard

[BJinMontreal]

What field of expertise? If ya don't mind me asking? If so disregard

 

Didn't you know ...

 

 

Adoption Specialist,

 

 

eyes, nose, ears and throat sugeon,

 

 

cat burglering ...

 

 

And cat napping ... of course!!!

[MyLadiesDaddy]

Didn't you know ...

 

 

Adoption Specialist,

 

 

eyes, nose, ears and throat sugeon,

 

 

cat burglering ...

 

 

And cat napping ... of course!!!

I love you guys, these are so adorable I cant tell ya. 

 

 

     

[Laid Back]

Thanks for sharing GregHi.

Looks like the wait could be a little longer.

We don't have the power to change anything in Iraq

Our only option. " Patiently Wait "

[eburt]

Update 1-26-16

Guys, I wish I had more positive news to update everyone on, but it is what it is and I don’t Sugar coat anything. So I will tell you exactly what my Kurdish friend told me tonight at work and then I will give my opinion on what I think is happening for what it’s worth..

 

What my friend told me tonight:

Over the weekend my friend got 2 phone calls. One from the Kurdish Finance member that helped come up with the rate proposal and the other from the head of the Kurdish Parl security. My friend said both people said the same thing. The Kurds did meet with Baghdad on the 17^th of January as planned. During the meeting when the exchange rate change was brought up for discussion, Baghdad said due to the current low price of oil, increasing the Dinars value would hurt the economy and that they would reconsider a rate change once the price of oil went back up. So this essentially stopped everything related to a rate change. My friend also told me that Barzani is fed up with Baghdad, really fed up!! According to my friend the north has reduced salaries by 50% while Baghdad only reduced their salaries by 3%. He also said in the next few days or weeks we will see where Barzani has now signed a 20 year contract with Turkey to sell oil directly to them, bypassing Baghdad all together. This is already essentially done, just waiting for the ink to dry and Baghdad is furious.

 

My Opinion:

There is a TON of corruption in Baghdad. These guys are doing everything they can to keep change from happening. As a result they are making the Kurds and the rest of the world mad because they are dragging their feet. They don’t want anything to change because they know they won’t be able to pillage Iraq anymore. They are going to Bankrupt Iraq soon if either the IMF or PTB, or whoever, don’t  intervene to make them change. Could the IMF force Iraq to RV anyway? Possible, who knows.. Time will tell.

 

Again, Im sorry it’s not positive news, but it is what he told me. I will of course let you know if I hear more. As always take this as rumor.. Hopefully the IMF will force them to do what they need to do.. We shall see..

 

Greg

Thanks Greg - Well this sounds like some mess Baghdad will do - I wish IMF and/or someone would force these greedy leaders to do something - The only thing that is confusion is so many countries have loan Iraq monies (China, Russia, US, IMF, etc) Why is no one forcing them to back the loan and if so, how will they pay with worthless dinars...Just don't make since.  I can't blame the Kurbs at this point.....

[eburt]

Thanks for the update.  I think your friends' assessment is probably pretty accurate. I think Baghdad is pretty upset over the low price of oil.

In the past, many felt with the high price of oil, the huge holdings of gold and other wealth and their liquidity would foster an RV  But now we are seeing a totally different picture. Their budget wont cover their expenses because of low oil prices and it is diminishing their reserves rapidly.  Inflation could skyrocket with the implementation of the tariffs.  Let's just hope they can see a recovery from this slump soon!  Not trying to be negative.  Just try to assess the news articles we have been seeing.

True - But with Baghdad corrupt leaders I believe if the oil prices was high these people still will not RV their currency because if that was the case they would have done it before oil prices tanked.  But hopefully someone will force them to do the right thing because of all the debt they have to pay back.  We just have to continue to wait as usually - I need a DRINK

[millionaire in training]

 I need a DRINK

I'll drink to that..........

 

Greg as always THANK YOU for your information it is very much appreciated.      Thank you for keeping us updated.  

 

I believe the IMF has other plans for Iraq.  We will just have to wait and see.   

 

  Keeping the faith   

Edited January 27, 2016 by millionaire in training

[markb57]

corruption is rampant. Abadi and Maliki are both corrupt. perhaps we should shift some of the forces in Mosul to clean house in Baghdad???

[pattyangel]

Ok, I'll chime in and say, Thanks GregHi for keeping it honest and upfront!!!    Hope is definitely in the air. 

 

Iraq will be Iraq and that includes all the corruption. 

[Cosmo]

GregHi, appreciate your sharing the behind the scenes intel. I'm adding this piece to all the others.

 

Cosmo

[mad asafrog]

Thank you greghi thank you for sharing both good and bad all appreciated

[genx4me]

Thanks GregHi. It means a lot that you take the time to bring us what your friend says, good and bad. I appreciate all of our newshounds, and all of you who keep my spirits up with your hilarious humor! Keep up the good work everyone!

[MyLadiesDaddy]

Greg, you're a stand up guy. Thank you for keeping it real. 

 

I had to chime in here and say how that I got so much flak for saying that if Iraq rv'd 

 

 they wouldn't do so until Sep. 2016.   My reasoning was somewhat different than yours 

 

but we all have our ways. I just pray for everyone here to make it through these hard times. 

[justchecking123]

ugh nothing as of late....I am still looking

send me your email and I'll get you a trading training link you might be interested in. Time to start creating your own economy.

[KristiD]

I've been following this thread with some hope, but honestly from the start I was thinking...... Just because the Kurds tell the CBI they should RV at such and such a rate - that doesn't mean they would.  It seems to me like the Kurds have been patiently trying to get their fair share for a long time.  I never thought that they were well-respected by the rest of Iraq to begin with.  So I personally, felt this delegation on the 17th was a long shot to actually be the trigger to start the RV. 

 

Having said that though, I still think Iraq is nearing the point of having to get this done.  Low oil prices or not, they are in a precarious situation.  And while I understand that they would like the oil price to be higher, I'm not sure they can afford to wait as long as that may take.  My hope is that they realize they're not in the best of situations right now and that they need to do something to stop their downward spiral.  Breitling quoted a recent article (in his audio form Sat Jan 16), that due to the dinar's loss of value relative to the US$, Iraq will be forced to stop the auctions.  I interpret that to mean that Iraq cannot afford to maintain the artificially low rate of the dinar - that they're soon going to have to 1) either let it start to float from where it is now  or 2) give it a bump in value (hopefully 10 cents or higher) and let it float from there.  Since we know the currency is waaaay undervalued right now, even despite the predicament that Iraq is in, I still think they have more than enough reserves to cover 10 cents and even a lot more.  And I think the worsening conditions in the world (low oil prices, terrorism, stock market declines) is actually going to force Iraq to do something sooner rather than later.  

 

jmo - but I do remain hopeful and, I believe, with good reason.

[tigergorzow]

KristiD, Totally agree with your assessment. We will see positive change in the value of the IQD very soon IMHO.

Keeping the faith!!

GO RV!!

[Shedagal]

I agree, too, KristiD.  I also remember Breitling saying a while back he felt the RV would initially be around .46 to .57 based on his research.  He believed Iraq could do a 1:1, but they probably wouldn't so as to give more control.  He may have adjusted his figures  based on the current oil prices, but I know he was excited about the focus on gold.  I feel pretty sure we would all be okay with an initial RV in that range!!

[davis411]

but but but 

okie and tony told me 38.00 rv

 

ahhh come on i want my 38.00