Friday, July 1, 2016


7-1-2016   Intel Guru SteveI   With the IMF agreement in place and Iraq desperately needing the money, I am just not sure how this will all play out. Iraq...seems to have maneuvered around many agreements in the past. Maybe this is different because the world is watching. Yet to be seen.  ​I have to admit and agree, things are looking better and better every day. I am very excited about July, but still very cautious... Exciting times ahead!

7-1-2016   Newshound Guru firefly
   [Has anyone got the impression that the Brexit may be pushing things faster?]  Absolutely!  IMO of course.  [But will this country actually go through with this... There is talk of delay...?]  IMO, they have no choice...THE ENTIRE GLOBE IS A MESS RIGHT NOW. THE FURTHER THIS DRAGS OUT THE WORST IT WILL BECOME.

7-1-2016   Intel Guru SteveI
   I do not believe that this currency will turn into a zero value because of the various countries and governments holding it. I have no proof of what countries or how much except what has been published in past articles over the past 10 years.  Here is another question you may want to ask yourself.  If the Iraqi currency is worthless and always will be worthless, why are thousands of people and groups risking prison in Iraq to counterfeit it? My guess is that they know some where down the line this will be worth a lot more that what is is today.   If the CBI has no intentions of increasing is value, why are they talking about reducing the large notes and introducing to the citizens lower notes?  ...it is to start preparing them for a monetary reform which includes the introduction of the lower denominations. This is all positive folks!   [post 2 of 2]

7-1-2016   Intel Guru SteveI   [On a scale of 1 to 10 with 10 being the highest that this will RV...I mean ever happening?  time frame?  how about this year?  What do you think?]  On a scale of 1 to 10, I am going to go out on a limb here and say 9 for the current value increasing. The reason for a 9 is the backing of other international recognized institutions like the IMF, World Bank and others that would like to see Iraq emerge as a successful player in the global economy. Also, Iraq is promoting their country as a place to invest in. They want foreign companies and other countries to participate in their resources.  Last I recall, the CBI is reducing the USD within their county and encouraging everyone to use the Iraqi currency. This will never happen at the current rate regardless how much oil they have. Remember, they have many other resources that are not controlled by international groups.  Now for the second part of the question, whenvery confident this year so I will give it an 8. The reason for this number is that many unplanned events can consume Iraq and perhaps move plans further out into the future.  [post 1 of 2....stay tuned]

7-1-2016   Intel Guru Bruce   "the well is flowing freely" no more stops, no more holds. it is a joyous time...SWIFT will no longer be in use as of Friday (tomorrow, July 1).  ...my sources as saying that this will be the best July 4th that we have ever had in our lives. Not calling in on 4th, just saying in that time frame because of the new system starting tomorrow [Friday].  Rates will be excellent.

7-1-2016   Newshound/Intel Guru BGG 
  Article quote:  "The instability of the dollar exchange rate in Iraq is due to influenced by internal and external factors," noting that "monetary policy and the auction of the currency too much impact on the dollar exchange rate. This piece is mainly highlighting the last few stages of "push - pull" before MAJOR ECONOMIC REFORM kicks off.  [What happened to them doing away with the auctions?]  As of today - they were saying that would be a better option, but until then - this will have to do... (as in removing the auctions altogether).   I am not entirely surprised - nor that upset about this recent Fed Court Ruling, this will ultimately end in reforms for Iraq... what the exact route looks like... who knows.

7-1-2016   Newshound Guru mike   Article:   "Iraq develop a plan to postpone the premiums Paris Club  It's just another debt they can't pay after agreeing to it in the past. Iraq will definitely benefit from not having to pay it's bills. These guys are never going to get above a B- credit rating if they don't take care of their debts. And it's not just the Paris Club, they're also pushing the payments to Kuwait back.

7-1-2016   Intel Guru SteveI  [...you have mentioned you are hopeful for July a few times. Is that based on news or information from your sources?]   Here is my reasoning for mentioning July a few times.  There seems to be a very good sound agreement between the IMF and Iraq. Now the so called "Letter of Intent" had some very specific details regarding the Foreign Exchange Policy. When I read that section, among other it was very exciting to say the least. However, I have not seen any final document that was signed with the same conditions.   It could be very possible that Iraq and the IMF negotiated various terms...and the one in December is not necessarily the one signed in March.  If we all knew for a fact that the March final agreement was exactly as the December agreement, I would pretty much say this is a done deal in July or when Iraq receives their first loan payment.  The bottom line is, if the exact same terms and conditions were in the final signed agreement, they [then?] you all should start smiling and get ready for something very exciting...

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