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Saturday, January 31, 2015

DINAR GURUS UPDATE, 31 JAN

1-31-2015   Intel Guru Frank26   Article:  "Rafidain Bank announces the issuance of card "MasterCard" to its customers inside and outside Iraq"  There is no PROFIT for MC to do TRANSACTIONS at 1166.  This is not illogical ...This is posturing.  This is simply ...Good.

1-31-2015   Intel Guru EXOGEN   Article:  "Rafidain Bank issued card [MasterCard] to customers both inside and outside Iraq"  THIS IS BIGGER THAN GIGANTIC NEWS.   [Santa is on his way!!!! YES!!

1-31-2015   Newshound Guru My Ladies   TODAY RAFIDIAN BANK GAVE OUT MASTER CARDS INSIDE OF AND OUTSIDE OF IRAQ. THIS TAKES US SO MUCH CLOSER TO INTERNATIONAL. THIS IS A PILOT PROGRAM AND A BIG STEP WHEN THEY ACTIVATE THE PROGRAM. THIS IS DESIGNED TO BE ABLE TO TAKE CASH FROM ANY MASTER CARD ATM TERMINAL, THIS NEWS IS MAJOR.SO NOW WE ARE WAITING FOR PRESIDENT MASOUD TO SIGN THE BUDGET AND THEN OFF TO THE GAZETTE IT GOES. THIS SHOULD BE DONE AT SOME POINT TODAY.  THERE IS QUICK MOVEMENTS TAKING PLACE AND WE SHOULD SEE THE END SOONER THAN LATER. THINGS ARE GETTING EXCITING...THE ANTICIPATION IS BUILDING AND VERY SOON REALITY WILL SETTLE IN BRINGING THE MAGNITUDE OF WHAT IS ABOUT TO HAPPEN TO OUR LIVES.

1-31-2015   Intel Guru TD 
  Comments from my Kurdish friend (as always treat as rumor and due your own sound diligence). ...yes the budget has passed and NO it doesn't spell out any imminent change in iraq's immediate plans of major monetary reform. As also expected by everyone in Iraq the budget will be running at about a 25 trillion dinar deficit and that seems to be a conservative estimates. So why would anyone think it's time to implement currency rate hikes? Where's the money to pay for that?  I'm told that Abadi is s meticulous (engineering background) type of manager. There are plans and steps in place for agenda items. They already announced months ago their goals of executing economic and monetary reforms drafted for the next 4 years.  Part of that includes RD of their notes (dropping the 3 zeros, yes, LOP to start either end of 2015 or sometime in 2016. Then to conclude exchanging and retiring the old 3 zero notes within 2 years after that.  All this is to resemble the Turkish model of monetary reform which the Turks successfully executed back in 2004-2005.  This is their plan and they are hopeful to stick to it. 

1-31-2015   Newshound Guru Enorrste  
  It is my firm belief that the CBI is being forced to move ahead with the float specifically because the lower oil prices have essentially "hamstrung" them.   Quote:  "monetary policy is constrained in tackling the current shock."  It is clear to me that the CBI is moving forward faster than ever now because it believes that it HAS to do so because of the financial crisis from lower oil revenues.  The only solution is to open market operations so that foreign investment can come in and reduce the "shock" referred to in this article.  The float will allow the investment to flow in quickly.  From the CBI point of view, the faster the better.  I still believe...that we will see this roll out within the next 30 to 60 days.  [Guru Kaperoni]  also agreed, with the caveat that the laws still need to get passed.  He is correct.  And, IMO, they will.

1-31-2015   Intel Guru TNT Tony  
 [via Adept1]   [do you think eight cents is correct for the dong?]  …why would they say this much lower rate now?   We got this information a few days ago, and it didn’t make sense to us...and I still don’t know that it’s true.  Iraq has voted on the budget, everything else is done and it will all be announced at that same time...we figure the rate is $3.90 or so, and we have word it could be a bit higher or lower than that.   We told you two weeks ago that the window goes through the end of the month, and that is tomorrow [Saturday].  They anticipate it by Monday. This could happen at any moment.  

1-31-2015   Intel Guru DC
   [So your best guess now for the rates for dong, dinar and zim… do you think eight cents is correct for the dong?]  I understand how Shabibi thinks, and I think the rate has gone to $3.90 or maybe a bit more...The contract rate is still very possible for us, and the pool ranges from $9-28 in terms of what is available to us.  The dong – frankly, I don’t know.  Some believe that Vietnam can only support that rate.  I don’t have a lot of good contacts for that.  My contacts are in the UST and banks, and although I’ve heard the rumor of eight cents, I am prepared for .47 on up.  The $1-2 rate would be the contract rates.  For the zim, I’m expecting them to lop six zeros, then maybe up to $0.16, maybe.  To summarize, everyone is in place, just where they need to be...the times are held by just a few people, keeping people on super-high alert.  I’m really excited.  [post 2 of 2]

1-31-2015   Intel Guru DC
  [via Adept1]   In Iraq they passed the budget and made it public...the official date in the Gazette is tomorrow [Saturday]. There is more on Iraqi television about the economic reforms. The pressure is very high on Abadi and his team to get this revalued. Even with falling oil prices, Shabibi has successfully pushed for a higher rate...while PM Abadi just wants to get this out and raise the rate later.  In the US, all checks have been done and we are waiting on Iraq..

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