Sunday Guru Opinions - 6/23/2019

[ronscarpa]

6-23-2019   Newshound Guru MilitiaMan   Article:  "Interbank Market The Central Bank launched the electronic platform for trading between banks operating in Iraq (FX, Money Market)"  Quote:  "A platform that establishes an organized electronic financial market that opens and facilitates the way for foreign investment in Iraq."   They signed the Deal with the Indian Firm now the CBI says this... Keep in mind that FX, Money Markets are the largest markets in the world! The CBI has set the stage to go live from the picture I am seeing in all this data they are putting out...(post 1 of 2)... 

 

6-23-2019   Newshound Guru MilitiaMan   Alak is clearly talking imo about currency carry trade. He needed to do the calculations to get to  a rate that will be stable and steady with a strong interest rate, thus, traders can carry the currency trade...Now lets watch the Proxies go by the way side to usher in the fully seated Ministers and the new Fully seated currency rate Alak has for us at the same time or just after the Ministers sit. The GOI institutes the CBI, yet the CBI is independent. So once Ministers are seated then Alak can talk!!..imo. Sure looks exciting imo...(post 2 of 2]  )... 

 

 

6-23-2019   Newshound Guru Adam Montana   [Q? : I came to the conclusion that the tax code is just not clear about this RV situation.  ...That's why some CPAs believe it will be Cap Gains, and others are just as sure it's Ordinary Income.]    I do still agree with that, and there's only one way that's going to change - if/when the IRS gets around to clarifying it, as it relates specifically to the Dinar/this situation.  Unfortunately, they can clarify it pretty quickly... certainly in the same tax year as the RV is announced, and I'm betting it won't be in our favor.  If at all possible, I would love to claim Cap gains. The unfortunate reality is that we may not have that option, especially after the rules are changed retroactively on us.  I am hoping for the best but prepared and protected against the worst in regards to taxation.   [check with your tax professional at the appropriate time]

6-23-2019   Intel Guru RayRen98   The Ministers of Defense Interior have been announced this morning.  PM Mahdi is stating on Iraqi TV that "Parliament will confirm the remaining cabinet positions." This will complete his administration selections. [Maybe now the CBI can take care of business since the government was finalized?]

6-23-2019   Intel Guru Delta  Article quote:  "...Prime Minister Adel Abdul Mahdi confirmed to him will send the names of candidates to parliament this week."   ...THE DELAY WAS FROM THE GOV NOT PARLIAMENT… MAHDI IS DOING LAST AUDIT ON CANDIDATES ...IT WILL GET DONE THIS WEEK...BUT AFTER CBI MOVE LAST WEEK...WE DON'T HAVE TO WORRY ANYMORE...CBI IS MOVING FORWARD...NO MATTER WHAT HAPPEN...ONE WAY STREET...NO WAY BACK...

6-23-2019   Newshound Guru MilitiaMan   Article:  "Central Bank Governor: We are proud of Samir Al Nusairi's book and thank the Association of Banks for its support"   Effectively it looks as though Alak has set the stage to create, if not already implemented the time frame to use the mechanism to turn the auctions off as we know them, as they are ready to correct the large structural imbalances to a position of balance...the tools are in place to raise the balance of the Central Bank (read Exchange Rate, imo) !!

 

 

[ATHIM]

Thanks again Ron.

One would hope........IF logic prevails, they will set the sales price on the Dinar before they put it on the shelf for sale. I.e. They should; set the retail sales price on their currency to prevent re-sellers (currency traders, speculators) from taking profit out of the country through the currency.