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Wednesday, December 2, 2015

DINAR GURUS UPDATE, 2 DEC

12-2-2015   Newshound Guru OOTW    DURING THE KOBER INSTITUTE INTERVIEW, ABADI WAS ASKED HOW IRAQ COULD EXPAND THEIR ECONOMY IN ORDER TO MEET / REPAY FINANCIAL OBLIGATIONS, VIA LOANS FROM OTHER COUNTRIES – AND HE SAID THAT THE PLAN WAS TO IMPLEMENT THE TARIFF'S AND GET THE PRIVATE SECTOR GOING...SO...THE 2016 BUDGET LAW HAS WITHIN IT,  GUIDELINES STATING THAT THE TARIFF'S WILL BE IMPLEMENTED 2016 - WHEN IN 2016 IS ANYONE'S GUESS - BUT STILL, THIS IS VERY GOOD NEWS.

12-2-2015   Newshound Guru Kaperoni
  Article quote:  "He stressed that the central bank «being reviewed in accordance with international standards."   Which means they are working with the CBI to get them into compliance (Article VIII). It does not get really any clearer.  There is no reason not to believe that over the next few months that the CBI will achieve compliance.  The IMF and the world's best financial people will help the CBI.  So despite what we all might think of Allaq, getting the banking system open and the dinar in Article VIII is now a priority. I think we all can agree, for the first time in a long time, Iraq has a clear goal for monetary policy. We just have to wait and watch.  For someone like me who has been in this and watched lots of ups and downs, this is rather exciting.

12-2-2015   Newshound Guru wmawhite   [...does Iraq have to be in Article 8 before they can have an internationally currency?]  Article 8 is the "Good Housekeeping Seal of Approval" to the world financial institutions.  There are some Iraqi economists that believe the value of the IQD will need to change in value prior to moving to Article 8.   We shall see.

12-2-2015   Newshound Guru Kaperoni   "new exchange rate from CBI"  [Is this how they are working toward getting within the 2% spread?]   Since 1182 + commission is the new official rate, 1214 market rate is at or about 2%. 

12-2-2015   Newshound Guru wmawhite   [the rate at the cbi has changed...its NOT 1166 anymore. When you least expect it, an in conjunction with the IMF, the CBI makes a move to close the 2% spread between it and "street rate". [See the official CBI rate in the Dinar Guru Resource Bar on the left of this page...]

12-2-2015   Intel Guru Frank26   Dr. Shabibi is ready to show this new number in the middle of December…the 7-10 day could be for distribution across GLOBAL banks with the 1 to 1 by the first quarter of 2016...then by the end of the year (2016) they will be where they want to be...just ahead of Kuwait...at that point they will cap the rate…that is why it won’t be a free float.  It has to be a managed float so they can cap it once they get to the point where they want otherwise with a free float they have to answer to the 2% growth and it would take like 10 years to get to that cap point. IMO when they cap this toward the end of next year I think they will be between 3.86 and 4.30.  Parliament is back on the 8th of December, will the rate be affected if they don’t vote the budget in...yes if they don’t do the budget and don’t do the taxes and tariffs then this will delay things...we are confident this will happen...  [post 2 of 2]

12-2-2015   Intel Guru Frank26   [via Aggiedad77]   We’ve established that Dr. Shabibi is back at the helm...Dr. Shabibi wants this to happen at the beginning of a year or the middle of a year...he said give me a long weekend...they will be gone on holiday starting Wednesday night...all Thursday...all Friday...all Saturday...maybe even Sunday.  Is this timing...yes...it is the perfect storm for the RI...the RI...has nothing to do with numbers...it is a qualification of their country to be introduced into an international market...that is why the IQD is not traded right now, because of the locked program rate...no sanctions left to be filled...all ar

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