Adam Montana – Dinar Guru …Parliament is in session, although with the exception of this mention of “White Papers” it would appear that nothing spectacular is happening. I’m not reading anything into the “White Papers”…They aren’t going to announce “hi we plan to raise the rate next week lolz” – that’s just not the way this works. They would lose the chance to capitalize on the RV, and they simply aren’t going to do that. So, what IS encouraging?… [post 1 of 2]
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Adam Montana – Dinar Guru Article: “There is no alternative for Kurdistan but an agreement with Baghdad” – and that is 100% truth. This boils all the way into the HCL (Hydro Carbon Law) which is a necessary component for the RV. One of the most common questions on the HCL is whether or not it needs/must be done before the RV. The answer is…it must happen really really close to the same time. Either immediately (minutes/hours, not days or weeks) before, during, or after. Minutes or hours…not days or weeks. That is key. The HCL is, in layman’s terms, a profit sharing agreement between the Kurds and Baghdad – two major portions of Iraq. Without a profit sharing agreement, they won’t raise the value. …Go HCL – Go Dinar – GO RRRVVV!!!
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Dinar Investor – Jeff …the reforms made it to parliament yesterday. But they still have not told you when they’re gonna start the approval. And now Article 140 again. All of these are post rate change. They cannot start the approval process until the rate has changed…everything is waiting on the rate change…getting better by the day…
Mountain Goat – Dinar Guru Article: “PARLIAMENTARY FINANCE EXCLUDES RAISING THE EXCHANGE RATE OF THE DOLLAR IN ORDER TO COMPENSATE FOR OIL LOSSES” …so this article is telling us the CBI is NOT going to devalue the dinar as raising the value of the dollar against the dinar would do this. This is good news. But now do the revalue the dinar then against the dollar? …I have told you this many times already that there will NOT be a revaluation of the dinar of any sort in Iraq . Instead they will only transition the dinar to the lower denominations initially keeping the exact same value only having dropped the zeros from the currency. So, a 25,000 dinar note will become the new 25 dinar note. A 25,000 dinar note today is worth about 25 USD on the de facto peg. Thus, the new 25 dinar note would be worth 25 USD but this is no longer on the de facto peg and that is where people get confused. But this is in Iraq only. [post 1 of 2]
Mountain Goat – Dinar Guru Since in the process the IMF plans to re-peg the dinar to a basket of currencies. In doing this they will reinstate the dinar and put it on a float within the basket. They have to do this. They have no choice if they are to carry out the process to completion once they begin it. At this time a new rate will be assigned according to the basket of currencies. If anyone travels outside of Iraq and needs US, they will exchange 1 dinar using the new rate of the basket for USD. Iraq plans to continue to use dinar inside Iraq not US dollar. So, inside Iraq if the value of the dinar is higher and buys more than why would you want to use the dollar? But the dollar is universal and demand is higher outside of Iraq . So, they must watch for inflation upon this transition period first. [post 2 of 2]
Pimpy – Dinar Guru …the reform papers have been submitted for review. Not implementation. They’re telling you they need to review it and then prepare a presentation to give to parliament…so now they have the paperwork. They need to review it before they present it to parliament. I have a strange feeling that this presentation might not happen until after the elections. That has nothing to do with whether or not they’re going to do anything about the exchange rate…if they wanted to for whatever reason they can change the exchange rate without the white papers or reform papers being implemented …their number 1 goal right now is to focus on early elections…
Dinar Investor – Jeff …Article: “In details … Al-Kazemi’s white paper reaches the Iraqi Parliament” Quote: “a parliamentary source said that the government reform paper had reached the Iraqi parliament for a vote.” …the odds are parliament will not be allowed to start the approval process of the reforms until Sunday the 18th at the earliest. Watch their patterns…the reforms you know for a fact are married to the rate change.
MilitiaMan – Dinar Guru We see the White Papers are today issued accordingly. We wait and see the details within them. I’ll bet the world is watching…imo They know from all that Iraq has spoken about of late and in DC… Game on! imo.
Adam Montana – Dinar Guru [It’s easier to counterfeit US currency which means that Iraq put in a lot of effort to protect a currency that isn’t worth much at the moment…but hopefully will be soon!…] They put a lot of effort, time, and money into protecting a currency that isn’t worth much… why would they do that? Answer: Because the current value is not permanent.
MilitiaMan – Dinar Guru Article: “Parliamentary Finance expects a delay in disbursing salaries and warns against “implicating Iraq” with borrowings” Clearly they didn’t get that 15 trillion Dinar loan they told us about. They are telling us there will be delays for a few days. Can’t imagine why right? lol Kahdimi is in Kurd town through tomorrow. He is talking about major issues and from the sounds of it the most important have been hammered out and the minor issues are out to committees for follow up. Take note of the most important ones and then think about the next 2020 Budget at stake. They cannot borrow at a program rate.. But, they can go to the secondary market once they go to the IMF,s Article 8 compliance to 100%. imo…Article supports that there is to be a special meeting on the 2020 Budget early or at the start of next week. Well that is Sunday…They say in the above they may have delays for a few days…fits with the approval expected at the extraordinary meeting to come shortly… I think things are very hopeful. Lets see what happens…Imo…All good.
Mountain Goat – Dinar Guru …Security and stability are at the forefront of investment factors, as capital is looking for a secure and stable environment, a sophisticated banking system and a law that encourages investment away from blackmail, bureaucracy, red tape and corruption. Can Iraq do it? Many ask where is the RV. This is where the RV is going to come from. Read today’s news and ask yourself if Iraq is not moving aggressively in the right direction. The key is the word NOW versus as just talk as we have heard for almost a decade. Yes, they are NOW moving in the right direction as corruption is at a downturn and Iran is being moved out of the country with a roundup of the militias. Folks, the news could not get any better. It gets better and better each week.
Pimpy – Dinar Guru Article “Parliamentary Finance: The government’s economic reform paper will be presented at the end of this September” ...those reform papers will be there by the end of this month. What does that mean? That means we really just gotta relax, take a deep breath and realize that we’re already on the 10th day of this month. What are we about 3 weeks away from the end of the month? We will know a whole lot more by the end of the month…we are anticipating some very very interesting news by the end of this month.
Dinar Investor – Jeff Article “Parliamentary Finance: Budget 2020 will bring a boom in the Iraqi economy” This article pretty much is confirming that everything is rigged and has been set, planned and staged for quite some time...look at the date on this article – it’s from June 29th 2019 last year… Quote: “The finance committee of the parliamentary, Saturday, their agreement with the Ministers of Finance to receive the draft budget next year in September, indicating that the budget 2020 will make a quantum leap in the Iraqi economy.” Since June of last year they’ve had preparations to delay the budget until September of 2020…it doesn’t get any better than that. Huge news…
Mountain Goat – Dinar Guru Many…gurus tell you that Iraq must first build a robust economy and create a demand for the dinar. But how does this happen if they keep Iraq in a sanction like isolation and status. It is time to break Iraq out of these sanctions and go global. We know it and they know it. So, what comes first the economy or the currency? Is the currency reform an important part to kick start the economy? Yes, it is. [post 1 of 2]
Mountain Goat – Dinar Guru Let’s jog our memories for a second. Remember too that under Dr. Shiini Shabibi, then governor of the Central Bank of Iraq, was more than willing to go complete the project to delete the zeros in late 2012 and then reinstate the dinar to FOREX in January of 2013. How could he then without a robust economy and demand for the dinar. I trust this expert and so maybe Iraq does not need so much this “robust economy” all…elude to. Remember that Iraq was much worst off then they are even today in 2020 then they were in 2012. This all tells us that it is not so much the economy that is needed but the end to the corruption and Iranian influence. This is called stability and security. [post 2 of 2]
Pimpy – Dinar Guru …I know yesterday’s news was pretty exciting but…we need to just take a deep breath and slow down…Both budgets [2020 and 2021] are going to be submitted at the same time. Very very interesting…we saw the news article yesterday it was implied that a rate change must be considered in this paperwork…that doesn’t mean anything other than it’s being considered. Okay slow down a little bit. Like I said when we’re investing don’t get overly excited when it’s good news and don’t get overly down when it looks like negative news. There’s reasons to be excited, plenty of reasons but I don’t want people to get overly confident…that’s important for us to say grounded. It’s a low risk high reward situation but there’s no guarantees on any investment… [Post 1 of 2]
Pimpy – Dinar Guru ...nobody knows what the rate’s gonna be. Nobody. I’ve had people approaching me about some of the most ridiculous things I’ve ever heard – $4.00, $5.00, $10.00 for the rate exchange…there are reason to speculate about a particular rate. I’ve used past articles. I’ve used past CBI meeting readings. I’ve used past discussions between the government about the rates that they have discussed to try to get an idea but nobody knows the rate. So you guys just slow down a little bit. I understand it’s exciting. It is very exciting. We have not seen any kind of real discussion on anything to do with the dinar in quite some time but…they came out and said ‘look one of the things that have to be taken into consideration is we have to do something about this rate so we could be competitive on an international scale‘ … [Post 2 of 2]
Adam Montana – Dinar Guru Article: “The regional government delegation arrives in Baghdad to discuss the budget” …a short summary: Budget, and HCL. There is a LOT of information in that…that is related to HCL. I mean…it’s almost ALL HCL. Smothered in Budget sauce. And that is an amazing thing. …wait in frustration, or patiently knowing what’s coming… Iraq can do a lot to change how we remember this Year…GOOOOOO RRRRRRVVVVV!!!
Dinar Investor – Jeff Article: “Parliamentary Finance: The government’s economic reform paper will be presented at the end of this September” …If, I’m not saying they are…this is my opinion…if their plan is to change the rate in the month of September they cannot do it at the very end of September…they would have to do it more around September 20th and leave some wiggle room at the end of September…because they need to leave about 10 days around the end of September to work on the budget and…work on the reforms…
MilitiaMan – Dinar Guru Article: “The House of Representatives has finished reading two laws and addresses an oral question to the Finance and Planning Ministers” Quotes: “…to begin its implementation, in addition to the necessity to devise a real reform plan to address the delay in implementing projects…”; “…as well as knowing the value of the exchange rate specified in the next budget…” The picture they are painting (imo) is they are implementing the real reform plan. They are even going so far as to tell us that they will need the value of the exchange rate for the next budget. They have not resolved the next budget yet, that I am aware of? The next budget on the table is the 2020 budget leading into the 2021, imo. [post 1 of 2]
MilitiaMan – Dinar Guru They…tell us they have a session for (Thursday the 10th). Same day that PM Kadhimi is to be in the Kurds back yard for a meeting on important issues, oil and gas, customs and borders, etc.. Same day… that Al- Hakim is having think tanks gearing to talk about rebuilding the new social contract and rebuilding the state. Lets still keep in mind Kadimi, has a special session for the start of next week to approve the 2020 budget. Which is looking to be the next one on the table. imo. (Thursdays) session maybe be a very powerful one that could change the playing field. We shall see if it is a “September to Remember” but, it sure looks like a synchronization is in play now not in 2021, as they say “next” and that is now real close…imo. [post 2 of 2]
Dinar Investor – Jeff …I think a lot of the news is scripted and rigged. In other words they’re much farther along than they’re telling you the truth on. Notice how Kurdistan and Baghdad are now magically ready to reach a comprehensive agreement at the exact same time and almost the exact same week that they’re ready to start the approval process of the budget. That’s a little too coincidental…things are coming together too nicely at this point in time.
Adam Montana – Dinar Guru Time goes by, and we can be impatient with it…or we can know what is coming. Last week, I ended the Weekly update with a mention of how everything was going great, and there was no bad news. That continues this week… with the exception of OIL. The projected budget is based on $40 OIL, and WTI is currently sitting at $37.98 – but heading north again. Problem? I don’t think so. This is the first dip we’ve seen in months, and it’s not likely to last. In fact, the price trend should continue upwards. Not fast or drastic enough to hurt us terribly at the pump, but enough to inspire confidence and not scare anyone away from increasing the value of the dinar…
Pimpy – Dinar Guru Article: “The Minister of Finance stresses the necessity of reviewing the exchange of the dinar and reveals the size of the external debt” …we don’t know what the rate change is going to be we just know that the rate change is going to be part of the reform papers and it’s going to be part of the 2021 budget…it looks like we’re finally here. They’re actually saying it. This is the first time we heard anything about exchange rates in quite some time….it looks like we have some kind of a window. It seems between now and the end of this year we will see something happen…
Kaperoni – Dinar Guru …Mountian Goat says Iraq is trying to fast-track into the WTO. That might be but they’ve got nothing to export. Until that changes I doubt we’ll see a accession into the WTO. There was an article about a year ago direct from the WTO talking about Iraq and they pretty much said until Iraq has a private sector it makes little or no sense to join. They need to reduce the dependency on oil first...
Adam Montana – Dinar Guru …Our man Kazzammie continues to impress. Budgets and GOI and many more things lining up. The future is near! GOOO RRRVVV!!!
Pimpy – Dinar Guru …there’s a lot of things happening in Iraq but you can almost sum it all up fairly shortly…a lot of it is redundant. It’s what we’ve been watching for…It’s still good news, I just don’t want people to get immune to the good news…we’re seeming more now than every. A lot more positive movement towards achieving our goals both long term and short term with Iraq….I thought 2019 was really kicking butt, no 2020 is way ahead of that ball game…
Kaperoni – Dinar Guru …If the dinar is ever going to go up in value it’s going to go up gradually over time. This is not me just suggesting that that is what the IMF says specifically told the CBI years ago during the Article IV Consultation.
Pimpy – Dinar Guru …Al-Kazemi is definitely draining the Iraqi swamp. Article: “Al-Kazemi prepares for the start of the major battle with the corrupt” Remember one of the biggest things that had to be handled according to the U.N. and the United States in Iraq was something needs to be about the corruption. Here it is. It’s starting…anybody and everybody is being investigated. If you’re found to have been involved in some type of corruption, you’re gone…Al-Kazemi crack-a-lack’n. Looks like they’re really full steam ahead and on track. I’m really happy to see this…