Guest views are now limited to 12 pages. If you get an "Error" message, just sign in! If you need to create an account, click here.

Jump to content

Recommended Posts



3-15-2019   Newshound/Intel Guru Mnt Goat   ...On Wednesday I called my source in the CBI and had a chat. I am not hearing of any target date for this week or over the weekend to reinstate the dinar on FOREX...Again, I am telling everyone we are just now waiting for the last 4 ministers to be seated (especially the interior minister) as the Iraqis have been told many times they need a “fully” formed and functional government or they will not be allowed to reinstate the currency...Meanwhile I am told the CBI is ready and has been ready. They have had a lot of cleanup on the banking and currency fraud with the currency auctions. But at the point it will NOT stop the reinstatement once approved. They need desperately to move forward...(post 1 of 2)...

 

3-15-2019   Newshound/Intel Guru Mnt Goat   ...the CBI...must wait for the GOI and IMF to give the green light. I was told that no smaller category notes have yet been launched only more of the existing 250, 500 and 1000 notes in the ATMS...but what about the much lower 100, 50, 5, 10 and fils? Yes, this is an important question to ask for as far as Iraqis are concerned the lower denominations are out already but not the ones we are looking for...(post 2 of 2)...

 



3-15-2019   Newshound Guru Adam Montana   Oil saw a nice upward spike yesterday. We're not quite to $60, but the trend is still positive. I expect it to pull back a tiny smidge, then continue the steady pace in this direction...I'm not saying "the day OIL hits $60, we will have an RV"!  $60 was the direction I wanted to see, and we're basically there. As long as the current trend continues, we are in the (green) zone Steady and controlled oil prices, + steady and stable GOI, + some HCL goodies...that's what we're looking for, and it keeps coming!...(post 1 of 3)... 

3-15-2019   Newshound Guru Adam Montana   One item that is of note, and may push us out just a little bit, is the budget/fiscal year. There is a LOT of accounting to be done with any kind of monetary change, and it would certainly make things cleaner to change the rate on a specific date that coincided with something logical like the start of a fiscal year or quarter, or perhaps the beginning of a new budget, or something like that We are a couple weeks away from the end of Iraq's first fiscal quarter. Their fiscal (XYZ) can be a bit confusing because they don't get the new budget out until after the new fiscal year has already begun, and in the past they have stated that surplus in the budget applies to the following year.  Oh, there's nothing like proper planning, where the first three months of the year you have no idea what's in your checking account or what bills are in the mailbox...(post 2 of 3)...

3-15-2019   Newshound Guru Adam Montana   That's nothing to concern us, of course. In fact, with the steady progress we're seeing in all other areas, the prospect of a currency value change at the start of Iraq's Q2 is a pretty reasonable thought.  In other news... not much I can say right now!  Parliament is in session and WORKING. We don't have an announcement, but all of the clues are saying *soon*.   I'll be monitoring...(post 3 of 3)... 

 



3-15-2019   Newshound/Intel Guru Mnt Goat   So far, no voting in parliament on the last 4 ministers. Saturdays promised voting was not completed and postponed yet again. However no new date was confirmed or announce right away. Article quote:  "The candidate of the Minister of the Interior has not been agreed upon so far, but Fayadh officially withdrew his candidacy."   So another article says that the PM is now able to put his own selection of candidates forward and vote on them. We are told they plan to try again in Thursday 3/21. 

 

:tiphat:Have a great St. Patrick's Day Weekend everyone....Blessings...RON :twothumbs:

  • Thanks 2
  • Upvote 8

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.
Note: Your post will require moderator approval before it will be visible.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Loading...

  • Recently Browsing   0 members

    No registered users viewing this page.



  • Similar Content

    • By ronscarpa
      7-16-2019    Newshound Guru Enorrste    Haven't had anything to say for a while but now we're getting close so let's get into it....[Article the Central Bank of Iraq on Thursday announced the foreign reserves rose to a total of 72 Billion dollars in the first half of 2019]...how did they raise their reserves when the government was in a deficit situation?  ...they managed to expand investment throughout the country.  Thus reducing somewhat their dependence on oil.  This means dollar investment has in fact been coming in the country despite the fact that the dinar is not yet convertible on the international market...this is extremely good.  Why..? ...once the investors get a foothold in Iraq they will come in droves to make money...with the hopes...that they will be able to get their profits out the country in short order.  This means there are now people willing to put their money where their mouth is...(Post 1 of 2)...
       
      7-16-2019   Newshound Guru Enorrste   ...They are not just hoping for a floating dinar, they are counting on it.  The fact that the CBI has managed to raise its reserves is a clear indication that the float is imminent.  Only with a strong currency can they take the risk of moving to a float.  With 71 Billion in reserves they have about 175% coverage of their entire money supply in hard currency...Thus the dinar is one of the strongest currencies in the world despite its current low value.  As the float begins the they will see the value of the dinar begin to rise.  As it rises they will reduce the money supply with the goal of getting it down to 40 Billion dinar rather than 40 trillion dinar.  Thus at one dollar per dinar (this is after the float has occurred) the CBI will still have 175% coverage of their money, meaning the dinar could easily get back to the $3.50 per dinar range which is their ultimate goal...(Post 2 of 2)... 
       
       

      7-16-2019   Newshound Guru Kaperoni    ...We're all about the facts, truth and learning the process and fundamentals of how monetary policy works and how it interacts with transitional economies.  There is no arbitrary revaluation or reinstatement.  The terms the gurus like to use RV or RI is all nonsense.  That is not how monetary policy works...The CBI will follow strict rules.  They will follow processes as well as rules and processes from the International Monetary Fund (IMF).  They use this information to design monetary policies to combat the effects of a growing economy.  These are proven policies and techniques used by other central banks all around the world...there have been a lot of things that are eye popping.  There has been a lot of progress over the last few months...


      7-16-2019   Newshound Guru Whitelions  I think we are finely close enough to smell the roses - for the first time in years they have gotten their poo together...
       
         *****
    • By ronscarpa
      7-15-2019   Newshound Guru Kaperoni   [via Baxter]    ...the Article 4 consultation report... is to be released yet this Month...and that should tell us more about where Iraq is at this point.


      7-15-2019   Intel/Newshound Guru sandyf   ...If we are to gain from this venture then it is not going to come from anything Iraq does.    How can people talk about Dinar and Dong in the same breath and then think the answer lies with 3 zeros. Hopefully by the time Iraq ever gets around to deleting the zeros, all thoughts of Iraq will be well and truly in the rear view mirror.
       
       
    • By ronscarpa
      7-14-2019   Newshound Guru Don961   Article:  "Paying with plastic? Iraqis weigh pros and cons" Quote:  "In Iraq's cash-driven economy, the Communications Ministry and head of the Central of Bank are getting input on a mechanism that would allow banks and shops to further facilitate the use of debit and credit cards."   ...this is where the rubber (er...currency) hits the road...in the marketplace... cool article...dump the rippy old notes with all those zeroes... replace them with new polymer ones that don't deteriorate as quickly...and give them a value so small change can be made without an issue... give 'em sum coins for the Fil jar to save for a rainy day ... 


      7-14-2019   Intel/Newshound Guru sandyf   ...Govt does not Drop the zeros...CBI does...Central banks have a limited role in the management of a currency. Changes to the monetary unit or major changes to the currency require government approval.  Deletion of the 3 zeros in Iraq will affect the monetary unit and as such will require a Bill to pass through parliament, it's not going to happen any time soon..!
       
    • By ronscarpa
      7-13-2019   Intel Guru Delta   [Q? : I believe you have recently stated that they have ALREADY lifted the 3 zeros in country...Can you please clarify this for me?]    IT'S ALL DONE...   MAYBE IT'S SOMETHING OR NOTHING BUT...NO RATE UPDATE SINCE WED ON CBI...


      7-13-2019   Newshound Guru Kaperoni   [Q? : 77% of the world's transaction revenue touches an SAP system! They are HUGE!  They...wouldn't set up shop in Iraq for fun..! ...They have seen the potential & want to get in on the ground floo..r!]   Yes..!  It's a big deal they are now in Iraq...


      7-13-2019   Intel Guru Delta   [Q? : What if the central bank stopped selling the dollar?]  Article quote: "It may be necessary to resort to other mechanisms that are quite different from what is currently being used."  WHAT'S NEXT?  ...DETERMINE THE PRICE GLOBALLY...!                                                                                                                                                                                                                                        That's all folks....Be Blessed..!  RON 
    • By ronscarpa
      7-12-2019   Newshound/Intel Guru Mnt Goat   "MONETARY RESERVES WITH THE CENTRAL BANK OF IRAQ: CRISIS AFTER CRISIS"    This article is nothing more than the CBI tooting its own whistle again. al-Allaq knows his days are over in the CBI and he is going to be replaced. He is the third generation proxy governor appointed by the Nori al-Maliki days of takeover in 2012. He does not have the expertise to handle the complexities and corruption of the CBI. He is going to be replaced shortly. A new candidate has been already chosen.


      7-12-2019   Intel Guru Delta   MONDAY IS A HOLIDAY IN IRAQ SO CBI HAD 2 AUCTIONS BUT IT WAS STRANGE THAT FOR SUNDAY THE VOLUME  WAS 0  AND THIS WAS THE FIRST TIME I SEE THIS PATTERN...BUT FOR MONDAY THE VOLUME  IS REGULAR NUMBERS...BANKS SUBMIT THEIR  REQUEST FOR AUCTIONS IN ADVANCED SO WHAT DID THEY KNOW...CBI WILL SEND MEMO 24 HURS IN ADVANCED TO BANKS BEFORE RATE CHANGE...
       
      7-12-2019   Intel Guru DELTA    Article quote:  "The file of the "auction of hard currency" in Iraq to the forefront after the comments of deputies in parliament, demanding the Prime Minister and the Supreme Judicial Council and the public prosecution in the country, put an end to the massive corruption carried out through the auction of hard currency organized by the Central Bank of Iraq every day."  MASSACRE OF THE DOLLAR IN IRAQ...OFFICIAL MOVEMENT AGAINST FRAUD AT THE CBI AUCTION.
       
      Have a great weekend everyone...RON
×
×
  • Create New...

Important Information

By using this site, you agree to our Terms of Use.