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Friday, June 22, 2018

DINAR GURUS UPDATE, 22 JUNE

6-22-2018  ***  Dinar Guru UPDATE ***  The CBI FINALLY UPDATED the market rate yesterday!.  It appears they have successfully maintained compliance with the IMF 2% for 90 days!  This is a huge accomplishment.  Guru Kaperoni and the other gurus who feel this is important for the dinar believe the CBI must maintain the 2% rule and send a letter to the IMF requesting/accepting Article VIII if they want to take the next step with the dinar.   You can see the CBI official rates in the left column of this page.  Stay tuned as the gurus chime in on this very important subject.  The latest guru posts will continue below... 
6-22-2018  Newshound Guru BobTheTaxMan …The sanctions that were imposed on the CBI had been taken off and what people may not realize is that the Central Bank of Iran (not Iraq) have been siphoning U.S. Dollars from the CBI into Iran…Well the Central Bank of Iraq was approached by the U.S. government saying, “hey this doesn’t help us…this isn’t going to work and you’re still under sanctions.”  So the CBI says we see what you’re saying so they shut them off [Iran]…if you would have watched the news you would have seen where the Central Bank of Iran had sanctions imposed upon it and the flow of money going to them got cut off because the Central Bank of Iraq said nope we’re done.  One week later the sanctions that were imposed [On the CBI} since clear back in the 90’s (since the invasion of Kuwait) are now gone.  The CBI is fully functional.  It has the ability to do everything it needs to do…

6-22-2018 
  Newshound Guru Kaperoni    [Many...say that the CBI has said "NO FLOAT"...]  A float solves that issue...here is the problem with that "no float" comment...the CBI has stated on at least 10 times they will float...my view is that the CBI was simply saying they could not float at the time...which makes sense...they were out of compliance and not ready... if the CBI expects (and they do) large investors investment coming to Iraq it will create pressure on the financial system...A peg must go...there is only one alternative...a float...and the IMF made it clear...move to a more liberal exchange rate regime... it will rise fast then...   put the words liberal exchange rate regime in google...those are the IMF words not mine...answer...floating or flexible exchange rate.  [post 3 of 3]

6-22-2018   Newshound Guru Kaperoni    If I was a Lop guy it would be different but with a float, its the same result just slower... dont know how fast it rise...[What does "Deleting the 000" mean to you?]  it mean two things  1. a LOP  2. raise the value and the zeros go away ...with 60 trillion + dinar in circulation we better hope they decide to raise the value gradually via float because the alternative is a LOP.  I am not saying they will, in fact I believe they won't but there cannot be a RV or RI with that much dinar on the streets and those who say they are reducing it are wrong...you cannot reduce the money supply when the CBI has currency auctions...they can remove the paper, but the money supply has to remain...the auctions are a balance of dinar to dollars. drawing one or the other in creates demand which would throw the spread out of wack.  So until the auction end they cannot reduce the money supply substantially...   [post 2 of 3....stay tuned]

6-22-2018   Newshound Guru Kaperoni   ...the IMF made it clear in 2012..move to a more liberal exchange rate regime...That is a float...but this is not some random act...the reasons are clear...the CBI needs a mechanism to counter inflationary pressure...the float is the mechanism.   [If they send a request to be put in Article 8 will that be known publicly?]  the IMF should publish that yes  but...I believe the best chance for that would be at the same time as when they have their Article IV Consultation...sorta give the CBI a rubber stamp of approval...usually those are in March, but a few years ago they had one in June...So I am expecting it soon... I do expect the CBI to accept Article VIII soon though... [Guru] Enorrste thinks anytime and they won't wait for the GOI, I not so sure...CBI got to be antsy... risky if falls out of compliance.   [post 1 of 3....stay tuned]

6-22-2018   Intel Guru Bruce   ...we are in a very good position right now. I heard some things yesterday that were telling us just exactly how close we were. Even though we didn’t get a start last night or this morning [Thursday], we are in good place for that to take place.  ...I will say now Iraq did their thing. We got word out of Fallujah that today Iraq did make their announcement about their elections and did essentially what they needed to do...Also, they did have a reinstatement of their rate...I believe they have their actual revalued rate ready to go.  When you are down to the wire, really down to where you can see that finish line and cross through and break through that tape like we are going to do, there is not a whole lot else that I can even think of that we need to know.   I am excited about our timing. I have heard of a specific time frame that we are looking at right now for this.   

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