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Tuesday, May 10, 2016

DINAR GURUS UPDATE, 10 MAY

5-10-2016   Newshound Guru Kaperoni   We have always stated that currency reform must occur prior to the transition to a market economy.  Which is very important to understand since we know Iraq is trying very hard to transition away from oil and create a more diverse economy.   As part of the Balassa-Samuelson effect the growth of the economy and the appreciation of the currency are directly related.  This statement from the IMF report above further confirms this... "...The non-oil private sector remains relatively small and, consequently, has been only a limited source of growth and employment. Because oil is an exhaustible resource, new sectors need to be developed so they can take over as the oil and gas industry dwindles. Over-reliance on oil also exacerbates macroeconomic volatility..."

5-10-2016   Newshound Guru firefly
    IMO, Abadi has completed everything that was asked of him from the WB, IMF, UN and USA for quite some time.

5-10-2016   Intel Guru hub
   just thinking...the value of a currency unless under some sanction as the UN put on Iraq, follows the value of the resources of the sovereign nation. Im not sure how the banks having to be restored interacts with the value of a currency...availability yes, but not sure about value. The trade markets and all the taxation, tariffs, taxes, etc, determine the monetary value of the currency...if the currency is internationally accepted, the changes in international values happen in the market place, not because some one if afraid something bad might happen. The US $ changes value several times a day as do all world currency trading markets. currency traders move billions of currency every day. so i personally imo think that after the UN sanctions were satisfied, the currency should by economic principal have reached the international trading value.

5-10-2016   Newshound Guru rcookie
   Article:  "The establishment of an independent body contributes to the transition to a market economy"   THAT ARTICLE SUMS UP THE PRIVATE SECTOR NARRATIVE WE HAVE SEEN UNFOLDING EVERY DAY...THE ONE TRUTH HERE IS THAT ALL OF THIS COORDINATION OF PRIVATE SECTOR OPEN MARKET SYNERGIES IS NOT GOING TO HAPPEN AT A CURRENCY VALUE OF A TENTH OF A PENNY...AND REMEMBER THE WB HAS BEEN WORKING WITH THEM AND AUDITING THE 2 SOB'S AND 192 SOE'S FOR FEASIBILITY...IS THERE ANYONE THAT DOES NOT SEE THIS AS PRECURSOR TO IMF ANNOUNCEMENT OF ENTERING GLOBAL OPEN MARKET ECONOMY IN FIRST HALF OF 2016...

5-10-2016   Newshound Guru wmawhite
    Two separate trains on two separate tracks heading in the same direction...monetary reform headed to enter the economy/global markets and the governmental reformers ready to support Iraq going forward....Gold reserves still at 90 tons...getting a handle on the corrupt auctions...the monetary reform train is still speeding down the track towards the economy/global markets...."life is good"...

5-10-2016   Newshound Guru Islandg1211   There appears to be a calm after - and maybe - before the next storm in Iraq.  Sadr is suddenly being quieted. Abadi has at least five Ministers. The Kurds again used their threat to not show up, thereby denying a quorum, as a bargaining chip, to get paid. But, they seem set to go back to work.  Letting the RV go through independently, arresting Maliki, keeping Sadr quiet, and changing Ambassadors, may finally bring progress.   ...the RV is the first step towards rebuilding and diversifying the economy and moving towards a growing private sector.  Thus, the Monetary Reform which cumulates in an internationally recognized currency with value, prompts both progressive changes politically within the GOI, and the economy.

5-10-2-16   Newshound Guru chattels
  Article quotes: "Parliament sessions should not take place in the absence of Kurdish MPs, because Kurds are an important part of the Iraqi political process,"  "deputy from the Kurdistan Alliance said on Saturday, that the Kurds minister will not attend the Cabinet meeting scheduled tomorrow in Baghdad."  Kurdish MPs say they welcome Jabouri in Sulaimani and may hold talks with him but they are far from moving back to Baghdad any time soon. Sunni MPs are not ready to return to the parliament either "until they are reassured of their safety."  [Did I hear right somewhere that parliament was taking 2 months off?]   Not that I have read. Actually Jubourri calling to reconvene asap.  Waiting to hear whether the Kurds will end their boycott of Parliament and whether the Sunni will return to Parliament.

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