,
DINARESGURUS.BLOGSPOT.COM_________________ _______

Saturday, August 22, 2015

IKO WARD TIDBITS, 22 AUGUST

Hi guys, been humming Pink Floyd's Brick in the Wall all day.

Went to my Wells Fargo Philadelphia Regional Currency Exchange desk today and asked about Dong. This is the same desk that told me three weeks ago WF is not buying nor selling Dong and got a FRAUD ALERT screen when they tried to dig for more info.

Since it was Saturday, the regular guy wasn't there and the desk was being handled by the head teller. I have seen this woman there many times. I asked if they were buying Dong and she said that she had not heard they weren’t buying Dong. She tried her screen and told me it wasn't on the list. She then said she would go to a back screen and see if it was there. It was.

The rate was .44 per 10,000 Dong. So that's a selling price of 44.00 per 1M back to WF. I purchased my Dong last year from Sterling for 80.00 per 1M. There was no fraud alert. There was, however, a note to check with the main desk before quoting any rates, that two forms of ID were required (not specific) and the money would not be available for withdrawal for two business days. She offered to call the main desk at 9AM Monday if I came back then.

So the rate is still the same, but the good news is WF is back in business concerning the Dong. The note about checking with the main desk on Monday and exchange instructions to the teller was also encouraging. Just another brick in the wall, yes, but maybe a keystone as well.

You know I'll be back there Monday unless better news comes sooner. Don't start the bus yet, but make sure the water and oil are topped off and the tires checked. Best Iko

MEMPHIS UPDATE, 22 AUGUST

Wcinthai: If we are in an all out currency war which we will win, keep your eyes on Greece, how do you know who the victor is?  I mean going forward what is the look of the US?  A stronger currency, yes, but is that what they wanted?  Ok, I am assuming that they are not trying to collapse the US economy or are they?

MEMPHIS: good morning friend.  as always you ask good questions, tough ones!

my thoughts here briefly are:

"If we are in an all out currency war which we will win...how do you know who the victor is?

Much like in any price war there are no victors in a race to the bottom.  The cycle of deflation is going to go from bad to badder and deflating currencies is simply a contributor to this trend.
....
I see no winners here including the US.  Our currency is driven higher but the force driving that is beyond the control of central bankers. They too are now reduced to simply watching it happen!  Central planning, like all other attempts to manipulate the business cycle, never succeed and eventually the high places are made low.

This is one of the points I have spoken to the most as it is a key for our understanding.  Men try to smooth out the NATURAL ups and downs in markets and these manipulations do nothing to actually stop the trend(s) at work.

"...going forward what is the look of the US?"

haha, this one sir cannot be properly answered with brevity NOR do I or anyone else walking the planet have the insight to answer it in any great detail!

I do have many considered opinions tho and in a nutshell the future look of the US (say 5yrs from now?) is vastly different from the days of Mayberry.  People who now look to Washington for their every want and need will be in the most miserable of conditions. Socialism is dying the slow death that it has always deserved and old time values of family and self sustenance will again become known to us.

 A point of reference to follow here? If the FED does not raise rates this fall I will take this as a clear sign that they will not attempt to normalize the economy and continue their make believe world of money.  This will equate to waving the white flag and the slow death in our pension system will become accelerated.  We can discuss this at length if folks want to ask questions how/why I conclude this.

"A stronger currency, yes, but is that what they wanted?"

This (and the last part below) get to the heart of manipulation.  Much of the wrong thinking I have seen, in my short journey into all things global, is connected to the thinking that some mysterious man lingers behind the curtain pulling on all the worlds strings when this is simply not true.

Capital flows are a reflection of the confidences of people and their shiftings GLOBALLY create highs and lows, concentrations within certain sectors. This is presently driving the USD higher and the trend towards this has not come close to running it's course.  Eventually tho it will and at that point the USD will find it's new value.

Regarding: is this what "they" wanted?  I believe yet again that the answer is meaningless because the driving forces here are the sum total of decades of living beyond our means and running up tremendous debts both domestically, and the entire developed world.  "They" are simply reacting and trying to control/contain and THIS is (in a nutshell) the very reason that a new system of $ and finance is needed.  As Nova said so succinctly a couple of years ago: "What do you do when you have a bank that can no longer lend money?  You start a new bank..."

"...assuming that they are not trying to collapse the US economy or are they?"

The US economy is subject to the same forces as the rest of the developed nations. We don't get a pass here or special treatment.  The economies of the developed world are already collapsing in a death spiral of deflation and in my view unless we return quickly to free market principles the collapse will be deep and longer lasting.

But it is important that we (as informed followers of global trends) appreciate that the decline of the US was a self imposed one, we allowed it to happen, and was not thrust upon us by evil men.

The debts must be removed from sovereign balance sheets and regardless of how this is done it will be a painful process for everyone.  (handshake)

STEVE I TIDBIT, 22 AUGUST

This is very complex and I had no clue as to all of the things that have to get done and be in place. A huge undertaking. 

[With all the news that we have read recently, was hoping to get...input on where we are, and where we're headed.] ... 

Iraq is moving forward not backwards like some are implying. Yes, I would like to see things move a bit faster... I do have some positive news but I have not had a chance to verify it from additional sources. It is very positive.

TERRYK CHAT UPDATE, 22 AUGUST

Terry K Chat 11:30 am EDT 8/21/15

terryk: Hello all
terryk: nice to see u
kenbbq1: HEY HEY HEY
terryk: taking the day off from cutting trees
terryk: so we are at some very exciting days
terryk: u all hearing anything good
terryk: hope u all listened to the call wed
kenbbq1: It is Christmas today!!!!
terryk: some things were said not by me but by others that if u picked up on. Something cookin


Godskid: Should see it for us the 24th


terryk: lets cross our fingers godskid


Godskid: God is in charge so I just talk to him
terryk: I want to thank u all for your loyalty in here
terryk: a lot have ran and hid
terryk: and why I have really no clue
terryk: keep in mind that certain groups are trying to force u into the banks to exchange
terryk: two reasons
terryk: track everything
terryk: and hearing they are going to tax upfront exchange funds
terryk: but treat that as rumor ok


wushock92: I'm having a hard time understanding how they can tax an exchange from one currency to another.


terryk: to be honest


kenbbq1: Legally they cannot


terryk: i don't think they can but who am I


Godskid: I cannot remember a day when TK has not said "treat as rumor"
Godskid: my cpa said banks tell you they pay the tax and often don't


terryk: thanks godskid for reminding all every thing needs to be treated as rumor
terryk: so last $$$$ I heard
terryk: 4.10 and. .46
terryk: again treat as what


wushock92: RUMOR!
Godskid: TK any rumors on the ZIM?


terryk: Last I heard on sim and been a while is that after they collect what they are currently doing and turn it off
terryk: they are to do something
terryk: what I don't know nor do I want to go there
terryk: lol


POP: TK all I am reading is very encouraging pointing to Oct.1 and 1:1 ratio...have you heard anything to confirm or deny this?


terryk: Have not hear that
terryk: God Bless you all

DINAR GURUS UPDATE, 22 AUGUST

8-22-2015   Newshound/Intel Guru BGG   [How will $40 oil affect an RV...at one time it was said that $100 oil was needed?]   IMHO - not at all, I don't agree with $100 oil being required. In fact, if one ascribes to a "short move" or "emergency currency reform" as a short term budget deficit "bridge" - then $40 oil is not a problem - but a catalyst for change.

8-22-2015   Newshound Guru Aggiedad77
   Article:  "Foreign Policy: Iraq is not a lost cause"  The Iraqi Ambassador to the US begs to differ with some within the US regarding the situation in Iraq today...some look inside the country and only see a bleak and black future, one of separation...however the Ambassador says that Iraq is not a lost cause, Iraq's strength he says lies within their unity as a country a unity that is built upon integrity and a bonding between previously warring entities that are currently working together to push DAASH out of the country...that are working together today in support of reforms being proposed and implemented by PM Abadi and his government...he asks that US leadership not promote separation but instead stand with Iraq for unity because Iraq is not a lost cause.

8-22-2015  Newshound Guru Breitling 
 Just going by math and looking at what's going on in Iraq….I haven't seen anything negative.   There is nothing out there stopping this.  It's simply not going to happen.   Iraqi people need purchasing power.  But the CBI has to do it correctly.  They can't just push a button and all of a sudden there is value behind their currency.  They have to make sure it can be stable and it can grow and they can control it…that's the most important thing.  Other countries and companies won't invest in Iraq unless it has that type of control.  [Post 2 of 2]

8-22-2015   Newshound/Intel Guru BGG
   [do you really feel Iraq can pull off a increase in value before the end of Sept or do you feel it may take longer?]    I think - as soon as Maliki is fully "dealt with" and some resolution comes to the Gov of the CBI - the door is wide open to monetary reform. THAT IS EXACTLY what I think... and all of that can happen very, very quickly.

8-22-2015   Intel/Newshound Guru tman23
   I have "heard" that today the 21st "they" were given 3 weeks to complete the laws... (I don't know what laws, and I do not know who is delegating the directives) AND...Moshen Ismail [gov. of CBI] has submitted his resignation...The resignation by law requires a 30 day notice...And expect Sept 8th a new CBI governor to be appointed... There is no "ink" on this and I don't expect to see it in the press until the announcement...

8-22-2015   Newshound Guru Millionday   Article quote:  "The International Monetary Fund forecast on Wednesday, the Iraqi economy growth of 0.5% by the end of this year, thanks to expansion in the oil sector, and increase the contraction of economic activity in the non-oil."  THE INCREASE OF NON-OIL IS ALL OTHER PRODUCTION OTHER THAN OIL CALCULATED WITH GDP.   THE IMF FIGURES REPRESENT THE ACTIVATED REFORM RESULTS...THE IMF IS HAPPY WITH THE REFORM PACKAGE AND HAS ADJUSTED ALONG WITH REFORMS PREDICTIONS OF GROWTH FOR THIS YEAR.

TMAN23 & BGG TIDBITS, 22 AUGUST

tman23   I have "heard" that today... the 21st "they" were given 3 weeks to complete the laws... (I don't know what laws, and I do not know who is delegating the directives) AND...Moshen Ismail [The gov. of CBI] has submitted his resignation...

The resignation by law requires a 30 day notice...And expect Sept 8th a new CBI governor to be appointed...

There is no "ink" on this and I don't expect to see it in the press until the announcement...

Q: [do you really feel Iraq can pull off a increase in value before the end of Sept or do you feel it may take longer?]    
....
BGG:    I think - as soon as Maliki is fully "dealt with" and some resolution comes to the Gov of the CBI - the door is wide open to monetary reform.

THAT IS EXACTLY what I think... and all of that can happen very, very quickly.

BLUEDOG UPDATE, 22 AUGUST

Bluedog:  WEALTH CREATES CORRUPTION ...................... NO OTHER COUNTRY'S CONTROL YOUR WEALTH DO THEY NOW ...... (See Article Below)

SURROUNDING COUNTRY'S DO NOT NEED OIL DO THEY BUT OTHERS TRY TO GET THERE OIL AS US AND EURO AND CHINA .......

IRAN HAS INFLUENCE BUT ABADI IS TAKING CARE OF THIS RIGHT NOW ....... YOUR OWN STABILITY COMES INTO PLAY .....IT IS IN PLAY RIGHT NOW ... IMO............... Bluedog

************

Research Center: neighboring countries cause instability of the Iraqi economy

08/22/2015

The director of Center for Market Research and Consumer Protection Salim al-Bayati, the Iraqi economy is stable and is controlled since 2003.

He said al-Bayati said in an interview (independent press), that the Iraqi market need of foreign trade and the organization to arrange the economic structure after coordination between the ministries and institutions to supervise the import process, whether the Ministry of Trade Finance Aomash of Emark, especially since some Badhaia Almistodh from neighboring countries to play a role not Iraqi market and economic stability.

And between, the import third-party organizer from foreign countries and Iraq's neighbors, cause economic chaos, stressing that takes the private sector role as an important and vital it needs to be a real efficiencies because most traders importing goods to achieve profitability regardless of compliance with health standards and human damage.

http://www.faceiraq.com/inews.php?id=4113156

TNT CHAT UPDATE, 22 AUGUST

TNT:

Ivantulafitov:
    http://www.oanda.com/currency/converter/ plug in USD on eft and IQD on right

 ****5 days in a row it has not gone back to 1166***** going on 6 days

Not 1166 is good if you look at the chart it consistently goes back to 1166 and usually every other day sometimes after 2 days but 5 now going on 6 days so that's something above my paygrade to say what …but it is definitely a break in the pattern

**********

Martha:  The RV has already happened, the button has been pushed so to speak. China started the party……..just sit back and watch all their actions

8/1,8/8,8/15 and now 8/22 ….on 4/22 actually is the official rv ….then was given 3 months to get its act together to 7/22 .now all is done and they only need to pay their people and release a rate to the world

Realize that everything is done-we get our blessing when the people of Iraq get theirs as in the people on the street

The banks were open on Friday and Sat in Iraq,  so we wait for certain intel and ISX opens on the 24th and needs a reality also the forex is back up and markets worldwide

June1:  martha good morning- so happy to read your post this morning! You are answering all my questions I had wanted to ask you! Was still hoping we might have RV this weekend but like you said the people in Iraq 1st than maybe??  A few more days for us after? do you think it will be that long for us here? Did the market go down enough friday or do we still have to wait for more??

Martha: No June…….. Today may be the day, the 22nd if the people got paid. Banks have been opened for 2 days and as Tony said the timing is right for this weekend

I think that if it had been released yesterday during market time that would have been an issue and we dont know yet what may have happened overnight

June1:  martha - it looks like you have a crystal ball in front of you and you are seeing all that is to come forth!! Loving it all and hoping that the powers are with you to do so!! Bless you -for all of this {{{HUGS}}}

Martha:  it is intel and I brought it out to 9/1…. but hopefully we don’t get that far since we are the privates and I see the public going then

June1:  This is all Bruce said the other night - all the call was on product -Bruce on The Big Call - China devalued again; dow plumets; Kazakhstan depegs from the dollar; other nations will follow; right before RV; sounds like a GCR; all lining up; it's Christmas eve and I am excited; all I going to say.

KTFA CHAT UPDATE, 22 AUGUST

KTFA:Jhockey00 : (Late Friday Evening)  Good evening everybody,  Frank perhaps you or someone else can clarify something for me as i am confused on a few things.

So am I to understand that not until Dr. Shabibi is seated with Alack removed, then Dr.S will lift the 000's. Which also means these reforms especially the Monetary Reform & HCL are picking up speed to happen very quickly.

Which in then points to an RI this year. Which obviously and RI is refering to an In Country Rate would come close to or around 1:1 ratio between IQD & US Dollar. Followed by a RV referring to a International rate.

Also if I'm not mistaking I believe Frank you said In Your Opinion that the rate of the Dinar would need to change prior to Oct.1st or it would be put on a so called Blacklist and set MR(Monetary Reform) way back in the process.
....
So to sum this up with a question & statement, at the momentum that Abadi is getting these reforms done & news of Iraq's International Bonds maybe being released soon it seems to me that a rate change of some kind is due at the lastest sometime this year and at the earliest some time very soon.

Would that be a very summary of what is going on?

Any details I am missing I do apologize. Thx .  Jason,

************

Frank26:
  Nope.......... that's pretty close enough.

KTFA  Frank     ps ..... You're welcome Friend.


************

Shade:
  » Frank: in an earlier post of yours, part of what you said was that the RI is for the budget and the RV is for us. Do you mean that the RI will not be an international event that would allow us to exchange if we so choose?    Thank you

************

Frank26:  SHADE ........... IMO ............ That phase ...... Only if they allow it to float outside of Iraq.

Time will tell DRS .......... When and What to do with his MR.  KTFA   Frank

************

Mike100:
  my question is why wouldnt they allow the dinar to float outside of Iraq? by not doing so how does that bring confidence to the IQD internationally?

************

M.Oakes:  The companies that have invested in Iraq will be well off if it doesn't float outside of Iraq.

If they are structured correctly they can keep the profits in Iraq and not have to pay taxes until the $ is brought into the US.

It is all for the "Big Boys".

Hopefully the Lord will bless us "Little Boys". That is my prayer.

************

Alan:  » August 22nd, 2015, 8:51 am

So now that we are past Abadi's 1 year anniversary and is there any validity to the articles and lessons here that Maliki can come after him?

Seems like I remember something being said like this.

************

PAPPA-J :  SO IT BEGINS!!!!! DEMONSTRATE OR PROTEST ---- AN EXCUSE IS ALL THAT IS NEEDED FOR VIOLENCE!!!!!!!

SHABBS YOU BETTER GET OFF THE POT, CAUSE YOUR OWN PEOPLE WILL MAKE DAASH LOOK LIKE KINDERGARTNERS.

THEIR FRUSTRATION IS AT BOILING POINT. CAN'T REALLY SAY I BLAME THEM!!!! PJ

************

Frank26:  » August 22nd, 2015, 1:28 am  Iraqi Dinar:

The new 25,000 Dinar note without the picture of Saddam Hussein(Getty)The Iraqi government plans to raise $6bn (£3.8bn) on the bond market in order to bolster its finances.

Baghdad's cash reserves have been depleted by rebuilding costs following the US occupation and the country's raging war with terror outfit ISIS.

According to Bloomberg, Iraq's central bank has enlisted Citigroup, Deutsche Bank and JPMorgan Chase to issue the bonds, the first since 2006 when it raised $2.7bn.

The country, a major oil exporter, has also been hammered by falling oil prices. Oil has fallen to less than half of its value in mid-2014 and analysts believe the price of Brent crude could fall to $30.

To compound matters, the Organisation of Petrol Exporting Countries (OPEC) has refused to cap production and the imminent entrance of Iranian oil onto the market is likely to depress prices further.

Independent analyst Anthony Simons told Bloomberg: "Iraq is going through some difficulties at the moment because of its conflict with IS, but oil production is at a record high. Things could look a lot different if we see a rebound in oil prices."


Iraq's debt stands at about $90bn, roughly 40% of $220bn GDP, although this is increasing.

The first tranche of bonds is expected to be sold in 2015.
Although the Iraqi Dinar has held relatively steady against the US Dollar over the last years, hovering around $0.000860, from November 2014, it has bounced between $0,000832 and 0.000881.
http://www.ibtimes.co.uk/cost-isis-fight-former-us-occupation-causes-iraq-issue-6bn-worth-bonds-1516422

************

Backdoc:   » August 22nd, 2015, 9:01 am

NOW WHY WOULD IRAQ WANT TO SELL BONDS IN DOLLARS PRIOR TO SEPT. 23RD? MMMMM

AHHH THE ANSWER IS THE SAME REASON VIETNAM DID!!!

PAPAJ YOU HAVE THE HONOR SIR!!!   DOC

************

Alan:   Is this why?

Nov. 7 (Bloomberg) -- Vietnam sold dollar bonds abroad for the first time in almost five years, seeking to refinance existing obligations after upgrades from Moody’s Investors Service and Fitch Ratings.

Vietnam priced $1 billion of 10-year securities to yield of 4.8 percent, or 2.39 percentage points over similar-maturity U.S. Treasuries, according to data compiled by Bloomberg.

Outstanding notes due in 2016 and 2020, which could be switched into the new issue or tendered for cash, rallied yesterday.

Vietnam is looking to reduce the cost of its dollar borrowings and take advantage of its improving credit profile as an end to monetary easing by the Federal Reserve fuels speculation that U.S. interest rates are headed higher. Fitch this week raised Vietnam’s credit rating by one step to BB-, three levels below investment grade, and said government policies have put the Southeast Asian nation’s economy on a more stable footing. Moody’s upgraded the country in July.

“Investors favor dollar-denominated issues,” Rajeev De Mello, who manages $10 billion as head of Asian fixed-income at Schroder Investment Management Ltd. in Singapore, said by phone. “The search for yield is still there. We haven’t seen Vietnam for a while in the market. The macro situation in Vietnam has stabilized. All those factors will be good for this issue.”

The Moody’s upgrade was the rating company’s first for Vietnam since 2005. State-owned Vietnam Shipbuilding Industry Group defaulted on a $600 million internationally syndicated loan in 2010, prompting concern over the stability of the country’s banking system. The government is targeting economic growth of 5.8 percent in 2014 that would be the fastest in three years.
Vietnam’s tender cash offer for existing securities was $1,070 for every $1,000 of 2016 bonds held, and $1,140 per $1,000 of 2020 notes, according to a statement from PR Newswire. Lead arrangers for the refinancing are HSBC Holdings Plc, Deutsche Bank AG and Standard Chartered Plc.

http://www.bloomberg.com/news/articles/2014-11-06/vietnam-markets-dollar-bonds-to-refinance-after-ratings-upgrades

DINAR IRAQ & DONG VIETNAM UPDATE, 22 AUGUST

Dinar Iraq and Dong Vietnam :interesting news overnight…from the appearance of things….it looks as though Maliki…is looking in all directions for his future…he fails to see though the handwriting upon the Green Zone wall…his welcome mat is being pulled out of from beneath him…he is quickly becoming a pauper for they have taken away his toys and pretty things…the plane…the plane…the nice shiny gold bars…all the colorful currency…they are disappearing…his pockets will soon be turned inside out…The strength of Iraq does not come from embezzling politicians any longer, the strength comes from those who are ready for reform, those who stand for a new Iraq that is breaking chains left and right as they prepare to show the people and the world they can survive by focusing on integrity and honesty…kicking the old corrupt ways to the curb…watch for it…the BEST is yet to come.
******
Parliament’s Finance Committee confirmed, it is waiting for the ministries and government institutions to submit their reports, which include the size of 2016 budget, “indicating” that the fiscal deficit is estimated the weakness of the budget in 2015.
Committee member Ahmed Sarhan said that “the parliamentary finance committee is waiting for the ministries and government institutions to provide their own reports of their needs from the budget in 2016, which was supposed to be completed in the months of May and June.”


“The Finance Committee after receiving the requirements of ministries and government institutions starts in the month of October paragraphs of the budget for 2016 then be presented to parliament for a vote before the end of this year.”
Ahmed said “2016 budget faces a deficit, estimated the weakness of big fiscal deficit budget in 2015 due to the continuing decline in world oil prices and the war against terror gangs which cost huge sums of money.”
Radio Tigris
****
If they’re using the dollar, we are financially supporting them, then the value of dinar should not concern them.
The CBI runs auctions and uses the dollar to balance the rate.
At an RV standpoint, it really does not matter if they are using USD and IQD.
What matters is where the CBI sets the rate since that determines how many USD we get per Dinar.
Long story short – their use of USD is not a bad thing for us.

ELMERF123456 UPDATE, 22 AUGUST

Here is my news. Got this yesterday afternoon from Chinese an important agreement in collaboration with China. Our Ministry would also discuss some major projects that are most important for the country. He also added that Ministry of Industry is looking to cooperate in various fields with China, especially in the liberated areas got back by the Iraqi Security forces from terrorist organizations and Daash. 

The head of Chinese delegation also said that the Federation of Chinese industries was much delighted to visit Iraq and to meet with the Ministry of Industry and considered his visit as successful and productive in the collaboration with the Iraqi Ministry of Industry. He said that our major contribution is development for the current Iraqi industries and improvement for these industries. It is now evident that Iraq is ready to go and has PARTNERED WITH CHINA!

MARTHA UPDATE :8/21 currency basket #2, 22 AUGUST

several people have asked me for the make-up of the second basket. If you remember a few months back, Tony was asked the same question and it was requested by the UST not to release that information. I am honoring that request as well because the make-up the second basket is basically the same currencies in the first basket of which our interests are in VND,IDR, IQD, and the ZIM. The second basket will be without the USD in this basket. The other countries in the basket are the N-11 which are other emerging currencies from the asian-indo area and emerging countries in Africa. The reasoning of not releasing this basket is that most of us are novices at the currency market and could get financially hurt in hedging our bets. Also some currencies will devalue and not revalue and re-instate,devalue and revalue. Our main currencies will probably not change in value except by a few points in either direction. Be smart an not worry about the second basket. The point I was making that the USD is out this time. Also the time fame for the release of these baskets is questionable since this should have been completed  by now.realize we are off by one year or even 2 years???

One other point,when a country re-denominates its currency, the identification letters will change thus IQD will now be IQN, VND becomes VNN, IDR becomes IDN and so forth. If you look at the UN operational sheet you will see that there are some countries that have already re denominated like Mexico and Afghanistan. This has always been an issue of confusion in dinar land which should not effect us since we are exchanging "old" currency. I hope this explains this better for all of you. Like Tony said,today, be READY NOW.                   martha