Latest Guru Opinions - 2:40PM EDT - Monday - 10/08/2018

[ronscarpa]

As Of - 2:40PM  EDT - Monday 

10-8-2018   Newshound/Intel Guru Mnt Goat   Article:   “BAGHDAD - The Central Bank of Iraq announced on Saturday the launch of large quantities of currency for small groups this week."  Quotes: "put large quantities of small groups to meet the need for daily transactions and the quality of the material has been improved".  "...a small change will be made in the NEW FORM THAT WILL BE PUT FORWARD FOR TRADING NEXT WEEK, knowing that the deal will be in the form of new and old together without discrimination."  The CBI told us that they had a new format or “form” for the smaller categories that they were going to launch next week (this week).  ...we are told that the new edition of the notes will “coincide” just as we were told already many times before. ..(post 1 of 3)....

10-8-2018   Newshound/Intel Guru Mnt Goat   So why is the CBI putting out so many of the smaller categories like the 250, 500 and 1,000 notes? This is because more people are now able to use these notes for daily transactions for petty cash thus they are getting citizens used to thinking in terms of smaller denominated notes. But we know at some point they must also raise the value of these notes. But when is exactly this optimum time?  We know that in all of the targeted reinstatement timeframes (...CBI timeframes...) that they intended to go always in the month of December – January.   ...Then we also find out that the CBI...began the replacement of 25000 and 10000 notes that are now in circulation. This move is not a contradiction of the process to delete the zeros since they are replacing these 3 zero notes as they also told us once again and I quote – “WITHOUT ANY INTENTION TO WITHDRAW FROM CIRCULATION". So again they told us these 3 zero notes will coincide with the smaller category notes. ..(post 2 of 3)....

 

10-8-2018   Newshound/Intel Guru Mnt Goat   Why...did the CBI issue these new version format of the 1000 dinar?  ...they said in other recent past articles, that the 1000 dinar note was being counterfeited already since they know the value is going to shortly seriously go up and this is going to be the largest of the smaller category notes widely within the public circulation.  ...So what timeframe do you thin the CBI might now be thinking of to reinstate the dinar?  ...I can say this with much confidence that the CBI may very well target again the December into January timeframe for the reinstatement of the Iraqi dinar based on past history of target dates. So, if this new government is formed and no major events happen that cause alarm or instability we may be in a good window at that time. ..(post 3 of 3)... 

10-8-2018   Newshound Guru Kaperoni   CBI gets ready to introduce replacement currency 250, 500, 1000 dinars.   This new currency only makes sense if they expect them to be in circulation for a while.  No overnight event!  The dinar will only rise gradually via a float. That is how monetary policy works.  Raising the value of the Iraqi dinar is part of a much bigger process...integrating Iraq's financial system into the worlds banking system.  That process includes the CBI accepting Article VIII of the IMF charter and moving to a new exchange rate regime.  The reason the CBI must move away from it's current exchange rate regime (peg) is to counter inflationary pressure created when large amounts of capital and investment comes into Iraq.  The new exchange rate regime will be a float allowing the CBI to counter this pressure by gradually raising the value.  The good news is as I have said before is that I expect that process to start very soon.  

 

 More to come later tonight ... RON

[happygilmores]

I hate that word "SOON".

[ronscarpa]

As of Midnight - Monday - 10/08/2018

 

10-8-2018   Intel Guru Poppy3   FOR THOSE THAT HAVE BEEN INVESTED FOR 10 YRS OR MORE IM SURE YOU REMEMBER, POPPY1, P0PPY2 AND POPPY3 HAVE BEEN SAYING FOR YEARS THAT NO SUCH THING AS A GCR WOULD EVER HAPPEN BECAUSE OF SEVERAL REASONS.  WELL SEEM TODAY MANY...THAT ALWAYS WANTED TO ARGUE THAT I WAS WRONG ARE NOW THEMSELVES SAYING THE GCR WILL NOT HAPPEN.   FRIENDS ONLY THE COUNTRIES THAT TRADE DAILY WITH IRAQ WILL HAVE TO ADJUST THEIR RATE TO MAINTAIN EQUAL TRADE VALUE.  I REST MY CASE AGAIN.

10-8-2018   Newshound/Intel Guru Mnt Goat   Article:  "CENTRAL BANK OF IRAQ ISSUED ITS SECOND EDITION OF THE BANKNOTES OF THE CATEGORIES OF (25000, 10000, 1000, 500, 250) DINARS"  ...we should not be worried that the CBI is issuing yet more of the 25 and 10k notes. We have been told many times these notes will coincide with the smaller categoriesand eventually will be needed in trade for large sums of debt. So this is actually something good as they are following what they said they would do. Remember they are “replacing” these larger notes with a new version not introducing more volume of currency in circulation. They already have the needed balance and quota needed by reducing the currency volume already by 2/3.

10-8-2018   Newshound Guru Currency365‏   (Central Bank of Iraq launched small amounts of coins to the market with changes in its design)     ...This is talking about the 1,000, 500, 250 notes not the 1, 5, 10, 20 ...completion of lower notes should bring out the Full Second Article...then lift value & new small notes..