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Monday, June 18, 2018

DINAR GURUS UPDATE, 18 JUNE

6-18-2018   Newshound Guru tlm724   Article:  "dinar card is ready to use"   Quotes:  "announce International Islamic Ban announced launch first MasterCard card currency Iraqi dinar" "Ruffer used your card outside Iraq and through the Internet and the price of discharge according to the official price of the Central Bank of Iraq."  ...very interesting. ...I researched the International Islamic Bank branch in Iraq...they do offer MasterCard and many benefits to their customers. Very good stuff...

6-18-2018   Newshound Guru Kaperoni
    3 days now passed the 3-month IMF requirement, CBI continues to be in compliance at 1200 to $1.

6-18-2018   Newshound/Intel Guru Mnt Goat   ...it’s mid June already and still the election process saga continues in Iraq. This is just 2 weeks prior to the end of the current government. Will they settle this saga prior to this time? They are already talking about a provisional government, this of course would be disastrous and will only lead to yet more shenanigans by Maliki and his goons. Will the UN or the USA step in to assist and settle this issue?  We also know the MCP monitoring by the IMF ends...  What does this mean? It means that the CBI will not want to allow too many days in between the signoff of the MCP and the reinstatement. We watch now for the next Article IV consultation session. The last consultation was completed on August 9, 2017 for the ending of the 5 year Stand-by-Agreement. This may very well be the final piece to the puzzle, allowing the CBI to continue to the next and final stage of the project to delete the zeros.

6-18-2018   Newshound Guru Daytrader  [New Guru]  I believe there have been a number of responses showing sound logic and article support for Iraq to move to a higher exchange rate.  IMO the reason they must is because it is a WTO requirement that a members exchange rate accurately reflect the true value of its currency.  Iraq has been working towards full WTO membership for several years, and looks as though they could be nearing acceptance.  The WTO will not allow unfair trade practices within its membership, and Iraq's current exchange rate would not accurately reflect its true value.  Also recall Alak "visited" with the IMF while in New York for the Central Bank Governors meeting last year.  ...Alak was joined by an accounting firm believed to have completed an independent third party analysis of Iraq's resources. Their objective was to provide accurate data for the new exchange rate calculations with the IMF.  IMO Iraq will not reinstate at the current exchange rate.

6-18-2018   Newshound Guru Kaperoni   With 96% oil dependency Iraq must pay for everything from oil sales from infrastructure projects, salaries of employees, defense spending and of course a lot goes to corruption. Iraq's budget for 2018 was $88 billion dollars. Iraq currently produces about 4.5 million barrels per day of oil. They would have to make at least $62 a barrel to break even on the budget including production cost.  This is why the idea of oil credits or selling oil for $32 is just not feasible.   I've said for years the dinar that we hold that was sold outside Iraq will never go back...it was part of a controlled leak to prime the pump of sorts to create momentum for the Iraqi dinar worldwide which eventually will end up in other central banks around the world.  [post 2 of 2]

6-18-2018   Newshound Guru Kaperoni   ...Iraq is 96% dependent on oil sales what that means is they could never sell oil below market price because they would be under cutting their own budget.  Remember 70% of the budget is wages as most Iraqi's are on the state payroll. Selling oil for $32 a barrel would prevent them for making payroll.  Until Iraq and diversify and create a market economy and reduce the dependence on oil they are at the mercy of meeting that budget.  The actual cost to produce a barrel of oil is about $10 yes but Iraq has many other expenses on top of that that make the sale of any oil for less than $40 not profitable.   [post 1 of 2....stay tuned]

6-18-2018   Newshound Guru Whitelions   ...the C.B.I   has the LAST and ONLY word on how the monetary system works and they have TOLD the PEOPLE that there will BE NO FLOAT.

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