Iraqi Dinar Guru opinions 3-14-20
3-14-2020 Newshound Guru MilitiaMan Article: "Reducing the Iraqi dinar exchange rate – determinants and alternatives" This is effectively the opposite of the plan. The why and why not to devalue. ...the CBI has explained they are not going to devalue for many reasons. The thing I like is that they use the reasons that support the opposite to occur. They haven't come this far with the reforms to devalue. They are not of the mind at this juncture to hurt the citizens. That imo would be suicide. They clearly see that revenues are in a pinch with oil down. Therefore, imo with out them saying as much they are saying with out saying they are going to raise the value. The negative side of the equation, is devaluation, the positive side is revaluation, imo.. They have the money printed and ready to go, they have the tools in place to facilitate the transition...imo...
3-14-2020 Newshound Guru G-Lin Article: "Former minister: Iraqi dinar on the way to "float" Quote: "The former minister, Amer Abdul-Jabbar, confirmed today, Wednesday, that the Iraqi dinar is on the way to floating..." ...I think they are trying to create a level trading field at the borders with other countries. International trading. That's the goal. But in order to do that they must curtail the corruption. They want and need to limit imports and make Iraq self sufficient. That would increase the currency value imo. And it would need to float. But how strange to see a float art. at this turbulent time. ...Oil tanking, virus running a mock globally, incomplete Gov., additional bombing of Taji base yesterday with U.S. and ally casualties, and, and, and...the list goes on. ...I would think this would be the worst time ever to float their currency...but who knows?
3-14-2020 Intel Guru Frank26 ...CBI came out two days ago...remember when I told you the CBI would continue the ongoing education of the monetary reform of the Iraqi dinar? Remember I told you it was really important this education was brought to them? ...it's been coming out piece by piece from the GOI to the CBI...the whole concept is we're going to teach the citizens that the whole concept of devaluing the Iraqi dinar is stupid...and that's Allaq the governor of the CBI...
3-14-2020 Intel Guru Delta They know the CBI is about to do something. So this is going to come to the wire. So starting...Sunday morning...maybe next week or so...the Central Bank of Iraq is going to do something. They have to. They are right on the bridge of collapsing. By the way the Central bank of Iraq has done a tremendous job...
3-13-2020 Newshound/Intel Guru Mnt Goat The drama of selecting a new prime minister continues...The corona virus is not helping either. Just this week an economist came out and said they should put the dinar on a float. Really? We know this will never happen until they are ready to also raise the rate and get out of these auctions and artificially held down rate. ...we have read already many, many articles on the pros and cons of going on a float just inside Iraq. The key is they can not do it “just inside Iraq”. It can not ever happen since the IQD is on a fixed de-facto peg to the US dollar. ...This info alone should nullify such requests by these economists. Yes, the CBI has adjusted the exchange rate from time to time for inflation. This is all they are allowed to do. But this is not a “float”. A float is based on market demand and floats are on an exchange where investors can come in and buy and sell. This will never happen on the artificial rate and process of the currency auctions window at the bank. It is all just talk, talk and more BS from people not responsible for the monetary policy of Iraq or who know how to manage monetary policies for countries.
3-13-2020 Newshound Guru Pimpy ...I did find out Iraq is not under sanctions anymore...I think what we're waiting for is the United Nations moving them out of Ch 7 into Ch 8. Recognize the currency internationally so that it would add a lot of value to the Iraqi dinar for them to be able to start doing business on a more International level...
3-13-2020 Newshound Guru Kaperoni [Guru] sandyf...For the most part you are correct. [reference Guru sandyf post 3-13-2020] Iraq could accept Article VIII, but fear plays a part since it is a one way decision. The IMF does not allow a country to return to Article XIV once accepting VIII. I...expect sooner or later if they want to diversify their resources they will accept it. As for floating the currency, it is the natural progression to get off the peg once they create the conditions for a private sector/market economy. That would be called an "orderly exit." Currently, due to a lack of a prime minister, a cabinet, the laws needed along with low oil and Coronavirus it is creating the "perfect storm" for Iraq's economy and speeding up the transition. In fact, often called a "disorderly exit." I am not a fan of this situation but it is what it is and we will have to see what the CBI decided to do...wait for the perfect conditions or just throw the oars in the water and row for a few months until this passes. ...I do expect if they choose this now for it to devalue some, but not much or for very long. Predictions are 1300-1350 to $1. One thing is for certain though. There is no RV or RI about to happen...
3-13-2020 Intel Guru Bruce I’m not going to call it but everything that we’ve got is pointing to...(Friday) - I’m just saying, that’s what I’m getting... My understanding is things are really good – we know that the redemption centers are staffed and going in early tomorrow [Friday]...and I think we’re going to be in good shape if we just stay with this a little bit longer – may not be much longer either...I feel good about what I’m hearing...
3-13-2020 Newshound Guru Adam Montana ...The world, and the world markets, are treating the Corona Virus as if it were a full blown pandemic - so, whether it deserves to be treated that way or not - that's what we are dealing with. OIL is down to about $30....Stocks... don't even get me started on the markets... Iraq is vulnerable to all of these things, just like the rest of the world - and on top of that, they are dealing with a Prime Minister issue. In spite of all that... guess who's not going anywhere? Iraq, you, and me. We aren't going anywhere...
3-13-2020 Newshound Guru Vital Brad There's just too many thing right now pointing to what we've been waiting for. Here we are beginning of March a lot of people say in March is gonna be a really big month hoping for a reinstatement of their currency. Coming up on the beginning of the second quarter April 1st - potentially a time when they can transition to a new fiscal calendar. March through April is gonna be really interesting to see what happens here in the next little bit. Things are getting exciting over there. You definitely want to stay tuned...
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