Friday, July 15, 2016


7-15-2016   Intel Guru Frank26   ...it is very important that you understand the United States and Kuwait government devalued the Kuwait currency down to zero, practically nothing...and Saddam Hussein was the reason...so America comes in...and the first thing that we did was Marshall Law...and we took over the banking structure...In other words everything I’m telling you is the equivalent...and it is happening in Iraq...with very slight differences...using the American dollar until they were ready to bring back the Kuwait dinar...back to the international rate...with these loans they will quickly remove anything that is left as a remainder of Article 8...once they do qualify and all of Article 8 is removed...MO...all they need to do is raise the value of their currency...and that is it...that should be the final restriction...  [reference Guru Frank26 post 7-14-2016...post 2 of 3]

7-15-2016  Newshound Guru Kperoni  #16 is the most important..  "16.  The authorities will gradually remove remaining exchange restrictions and multiple currency practice..."  ...if the CBI does this..and I say "If" (because they have not so far), it will create momentum on the economy and more importantly on the dinar to appreciate in value. 
 This is what we want to see...an open banking system with the world, no exchange restrictions, Article VIII, etc. etc.   Once that happens, Iraq will become a vary exciting place to invest and the currency will rise in value.    We just have to wait for them to get their act together. [Post 2 of 2]

7-15-2016   Newshound Guru Kaperoni  Press Release:  "Iraq : First and Second Reviews of the Staff-Monitored Program and Request for a Three-year Stand-By Arrangement..."    ...this report isgur full of what Iraq needs to do to improve it's economic and banking performance.  There is no discussion about currency reform (and I would not expect it).  That being said, it needs to happen and we don't know when it will.  But it is good to see so much of what we said needs to happen in the SBA, ie laws, remove restrictions etc.  I also like they are doing everything they can to hold the dinar at the current exchange rate (peg) during this difficult time (even though many called for the CBI to devalue the dinar).

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