Friday Noontime (EDT) Guru Rumors & Intel - 7/10/2015

[ronscarpa]

I just had to throw this in here....especially the first post below...! Have a great weekend everyone - RON

 

7-10-2015 Intel Guru SteveI Article quote: “…the fiscal and monetary authorities in Iraq now that is seriously considering (and bravely) adjust the exchange rate of the Iraqi dinar and including in line with the real price for the operation of the economy and the productive sectors, we know that it will be at the expense of all of our dreams strongly Iraqi dinar, which was worth US $ 3.33…” We are almost at the end. Hang in there and it will be worth the wait. This made my day!

7-10-2015 Newshound Guru sczin11 [if the KRG is planning a bond issuance then how strong a connection can there be between the Iraqi bond issuance and monetary reform?] IN BOTH CASES, SHORT TERM, IMMEDIATE LIQUIDITY, IS THE BASIS, IMHO. MONETARY REFORM WILL NOT PROVIDE IMMEDIATE RELIEF FOR ANYONE BUT US...I SHOULD SAY COMPLETION OF MR. THE ONLY POSSIBLE SIGNIFICANCE TO THE COMPLETION OF MR [WITH] REGARDS TO BOND ISSUE, WOULD BE THE NECESSITY OF A CREDIT RATING WHICH IN TURN WILL LURE BIG DOLLARS INTO THE COUNTRY. AS A DIRECT CONNECTION, BOND ISSUANCE TO MR COMPLETION, IMHO...NO CONNECTION THERE. 

7-10-2015 Newshound Guru Millionday Article quote: “The Iraqi government plans to issue local bonds worth five billion dollars, starting from the last quarter of this year…“ “The bonds will be issued in US dollars in stages based on investor demand, and investors will choose between receipt of an asset at maturity in dollars or dinars, but at a better price than the market price.” THEY ARE GIVING A CHOICE OF RETURN IN EITHER US DOLLAR OR IRAQI DINAR -- WOW -- AND ANNOUNCED THAT THE MATURITY WILL PRODUCE A HIGHER RETURN THAN --MARKET PRICE. CBI WILL DETERMINE IF THE LOANS ARE GIVEN OUT AT A NEW VALUE OR NOT -- I PERSONALLY HOPE A NEWLY CALCULATED VALUE. [post 1 of 2....stay tuned]

7-10-2015 Newshound Guru Millionday [if the bonds will be in 4th qtr...will the rate possibly change prior to then?] THE DATE OF A CHANGE IN RATE HAS NOT BEEN RELEASED...IT CAN BE CHANGED AT ANYTIME. WE DONT KNOW WHEN BUT IT DOES NOT MEAN IT MUST WAIT UNTIL THE FOURTH QUARTER. [...could this be that the Domestic payouts will be in Dinar, and if you were International you could get USD?] YES... THEY STATED THAT IT WILL MATURE AT A HIGHER AMOUNT THAN THE MARKET PRICE...SO THE BONDS WOULD BE ON THEIR MARKET AT THAT TIME...HUGE CLUE FOR ME. [...would there be any rational reason to give the loans out at the 1166 rate?] ACCORDING TO MY LOGIC AND ECONOMICS -- IT WOULD NOT MAKE MUCH SENSE FOR IRAQ OR THE ENTERPRISE... [post 2 of 2]

7-10-2015 Newshound Guru tlm724 Article: "Government intervention of the World Bank as a partner in the formulation of the budget in 2016" Quote: "adding that" the World Bank agreed to grant the loan in exchange for conditions related to conduct real administrative and economic reforms in the government system," now that is big! The World Bank says yeah we will loan you the money BUT we want in on formulating and implementing the economic plan! I like that very much! Very Happy.
 

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7-9-2015 Intel Guru SteveI Listen folks, we are closer than you all think. Hang in there!

7-9-2015 Newshound Guru OOTW ART'S CAME OUT STATING THEY'RE GOING TO LAUNCH THESE NEW 50K NOTES END OF MONTH (I'LL BELIEVE IT WHEN I SEE IT) – AND AGAIN, THE LAST INFERENCE WE HAVE IS THAT THEY HAVE DOUBLE THE RESERVES TO BACK THE VALUE OF THE DINAR - SO THAT PUTS US AT 2/10 OF A CENT, WHAT THEY'LL REALLY DO..WE HAVE TO WAIT AND SEE. ...ALL OF THE COUNTRIES I'VE RESEARCHED AT THE IMF SITE, WHO HAVE RELEASED THEIR CURRENCIES TO THE INTERNATIONAL MARKET UNDER ART 14 - THE HIGHEST VALUE OF ALL OF THEM IS TEN CENTS TO THE DOLLAR.

7-9-2015 Newshound Guru Kaperoni I am waiting to see if the CBI actually issues the 50k dinar notes this month as stated by MP Najiba Najib from the finance committee on July 2nd. ...currency reform must happen. It is really not an option or preference. The issue is how and when it will happen. [is it more likely to start at 1166 or 10 cents?] ...currency reform is not an arbitrary number. A currencies exchange rate is based on many factors. So when it begins to rise, it will be because of several factors. Unfortunately, many don't want to believe that and are wishing for some "overnight" event. The good news is Iraq is trying to create the conditions to do the currency reform. The laws will be a big step in the right direction when they pass them...over 150 laws have been read twice and waiting for a 3rd and final reading.

7-9-2015 Intel Guru SteveI [Can you comment on the 50k and 100k notes? Some articles say the introduction of these notes will coincide with the change in value while other articles are simply too confusing.] Yes, the 50 and 100 notes are a temporary solution to curb the massive counterfeit problems and will not be a part of the final solution.

[tedro]

Ron, you will never be a "Luigi".......NOT ENOUGH BS.......sorry, but nevertheless great approach with the articles!,

[sandfly]

OK

[Stumpy]

Thanks Brother!

[Texas1]

So, did it rv?

[Artitech]

NO! plus its Ramadam