Latest Guru Opinions - Saturday - 10/12/2018

[ronscarpa]

 

10-12-2018  Intel/Newshound Guru sandyf   "Delete the zeros" or redenomination will take some time to prepare for implementation, usually about 2 years. In the meantime there are positive indications for a very good Christmas.

10-12-2018   Intel Guru Frank26   So the next part we’re looking for...and we already know this, but it’s the second article. It will give them the date of when the value is going to go up. It will tell them when they have to go to the bank.  It will have the pictures of all the New Small Category Notes and the Coins, with the descriptions...  It’s even going to explain to them why they are reinstating their currency.

10-12-2018   Intel Guru RayRen98   CBI Interim Governor and Board members will meet with Prime Minister designate Mahdi today.  (Hmmmm, I wonder what’s up?)  Is Mahdi being sworn in today?  We’re still awaiting an answer to that one.  [What does the Oct 24 date have to do with us?]  No more excuses after Oct 24 – supposedly.  Let's see if something exciting happens this weekend. 

10-12-2018   Newshound Guru Bloodloch    If the CBI does release notes in the 1 dinar to 100 dinar range in the near term, and if there is not an immediate and significant positive change in the exchange rates of the IQD to other national currencies, and I suspect there won't be, don't panic.  There may be a very good reason for any significant changes in the exchange rates to stall for a short time while 40 million proud Iraqi citizens get acclimated to their new legal tender. It is vital that any possible release of new classes of currency be done in a way that maintains economic stability for all Iraqi citizens first and foremost.

 

10-12-2018   Intel Guru Delta   We know that they are about to make their move. For them to print Lower Denominations, even the 250, 500, and even the 1000, this give you an indication that the rate has to increase. But definitely a lot of stuff going on. It looks like, for the suitable environment, like you said, and that is an excellent point.  It looks like the CBI the rates will start gradually to make their move and we’ll see what the next move is going to be...(post 1 of 2)...

10-12-2018   Intel Guru Delta   For them to place more 1000 dinar notes, this gives you the indication that the 3 zero deletion, is coming off the exchange rate. Not from the currency. Otherwise, they never would have printed these. It’s not even a question now. Why they’re printing the 1000 dinar notes if they are going to get rid of them? Because it’s going to come off the exchange rate, and not from the currency by itself. This is really good news!  This is a brilliant idea.  Now for us of course, this is very important, but of course, we are waiting for the events for them to change the rate. We do believe, that along the way, the rate will change before they introduce the other Lower Denomination. That’s what we are looking for right now....(post 2of 2)

 

10-12-2018   Newshound/Intel Guru Mnt Goat   Article:  "CBI CONFIRMS ON MONDAY OCT 8TH THAT THE CURRENT BANKNOTES OF THE CATEGORIES (25000, 10000, 1000, 500 AND 250) WILL CONTINUE TO BE TRADED WITH THE NEW CATEGORIES ISSUED BY THE BANK WITHOUT ANY INTENTION TO WITHDRAW THEM"   ...We are NOT going to have an RV in the month of October or even in November. Our next possible window is maybe December or January...   So the last move of the CBI is just reissuing the same denominations already in circulation (20k, 10k 250, 500 and 1000). Yes, this is significant in a way since they are putting “LARGE AMOUNTS” of these smaller categories namely 250, 500 and 1000 which means the citizens are taking to them and using them as petty cash. It is a slow process to get them to use them in daily transactions of small purchases instead of using the larger 3 zero notes and then having to make so much change all the time. But we know at some point the CBI will have to reinstate the dinar and give it a market rate so it can properly function and be traded globally.
 
10-12-2018   Newshound Guru Currency365   Al-Khakani  [economist] stressed need to activate small notes for economic & financial benefits for the Iraqi consumer, including category 50 & 100 dinars...

 

[gregp]

Absolutely makes total sense.  

Delta has a good point.

 Thanks Ron!!   👍👍

 

10-12-2018   Intel Guru Delta   For them to place more 1000 dinar notes, this gives you the indication that the 3 zero deletion, is coming off the exchange rate. Not from the currency. Otherwise, they never would have printed these. It’s not even a question now. Why they’re printing the 1000 dinar notes if they are going to get rid of them? Because it’s going to come off the exchange rate, and not from the currency by itself. This is really good news!!!

Edited October 13, 2018 by gregp

[ronscarpa]

PLEASE NOTE: These are Friday's (12 Oct) Guru Posts, but were Posted above this morning (Sat - 13 Oct)...!  RON 

[gregp]

Thanks Ron!