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Monday, December 5, 2016

DINAR GURUS UPDATE, 5 DEC

12 -5-2016   Newshound Guru American Contractor   The Iraq Central Bank (CBI) has decided to continue with the delete the zeros project or better known in the financial circles in Baghdad as the redenomination of the Iraqi dinar currency.  The CBI has started printing the 50,000 (50k) Iraqi dinar currency banknote and will print the 100,000 (100k) Iraqi dinar currency banknote shortly thereafter. The printing of the 100k has not yet started, and talks continue on about printing a 200k banknote. You may also find it surprising that the low denominations currently in circulation will be removed from Iraq. That announcement is expected to come later in the year.  [post 2 of 3....stay tuned]

12-5-2016   Newshound Guru American Contractor
   Things in Iraq are going as well as can expected in light of the happenings there. All considering that the Iraqi government has been at war with the Islamic State of Iraq and the Levant (ISIL) since June 2014. Things appear to be looking up for Iraq as the Iraqi Security Forces (ISF) have surrounded the city of Mosul and are currently cutting off all escape routes for the ISIL terrorists.  ...the private banking system continues to work at minimum modern day banking standards. The banking system is underdeveloped and is a cash based system the majority of the time. Very few banks issue bank credit cards, wire money, issue loans and/or make deposits.  [post 1 of 3....stay tuned]

12-5-2016   Intel/Newshound Guru Mnt Goat   There was a very good article that came out on another rate increase for the Iraqi dinar. This rate increase should not be confused with the project to delete the zeros. This article is talking about raising the rate in the “closed” Iraqi economy and has nothing to do with going international as of yet, which is what is going to get us the money we are looking for as investors.  Again I will clarify – there has NOT been any RV in Iraq and the lower denominations are NOT out on the streets or being used by the banks. We do know the CBI has told us that in early 2017 in conjunction with the “project to delete the zeros” they intend to launch the 50, 100 and 200 dinar notes. This means at this time (as in 2017) they will have to do something with the rate or else these notes would be virtually worthless to the average citizen as they would be worth only 5 cents, 10 cents and 20 cents accordingly.  This is really good news and so don’t lose sight of it. Can they change their minds and delay it? Sure but we have not heard any new news to tell us otherwise.

12-5-2016   Newshound Guru Stryker   2017 Budget Update for 12/5/2016:  Parliament postponed the third reading of the 2017 Budget yesterday to today after reading and passing Article 50 but there are still some Article areas that are in need of work and they are working on those today. The Kurds are boycotting today's session along with a few other oil rich provinces but it will all be worked out in time.

12-5-2016   Intel Guru Dr. Clarke   We've made it crystal clear, even from the beginning of this 2016 Year, that this was all going to be completed IN THIS YEAR OF 2016, in our opinion.  We've also made it crystal clear in our most recent posts, about this month of DECEMBER, 2016...and in particular from the 15th-31st. Nothing has changed.

12-5-2016   Newshound Guru BGG
  Article:  "Iraqi parliament accepts proposal to pay Kurdish gov’t employees in return for oil"   Isn't this a little like "Water is wet"...or "we've agreed to do everything we've already agreed to do..."... correctly this time...the fact of the matter is this... the IMF is looking over their shoulder - they HAVE TO GET THIS DONE... 
 
12-5-2016   Newshound Guru MadDScout  Article:  "Iraqi parliament accepts proposal to pay Kurdish gov’t employees in return for oil"   This is the Kurdish portion that has been approved not the vote on the Budget...That will be Monday at 1PM.
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