Mountain Goat – Dinar Guru [Will by deleting the zeros it makes the currency stronger , therefore making our investment more valuable?] Yes, by deleting the ZEROS this will make the currency stronger thus also our investment. On the surface it looks like your 1,000 dinar note would only become worth only 1 dinar. But what most forget or don’t know is that the two currencies will “coincide” together for up to 10 years. That means the older 3 zero notes and the newer lower category notes will both be in circulation at the same time. [post 1 of 3]
David M. Witty – Dinar Guru Iraqi Speaker of Parliament says next meeting will hold vote to complete cabinet formation & vote on 2019 national budget.
RVAlready – Dinar Guru At the moment, I can see no reason to delay the RV, and lots of reasons to go ahead immediately. After all, everyone says they are ready, so they should do it right now.
Mountain Goat – Dinar Guru …the reinstatement of the Iraqi dinar should have taken place over the weekend and was held up again due to NSA security reasons. I have talked to my CBI contact and I am told that they are getting tired of this postponement and really need this currency to move ahead with the reconstruction phase. They are already a year late in their five year plan 2018-2022. The good news is there is still 10 days remaining in January and this month is the best opportunity for the CBI to do it for accounting reasons. Their fiscal accounting year coincides with the calendar new year unlike the western world that begins on Oct 1st.
MilitiaMan – Dinar Guru We just watched a few of the largest firms in the world have a meeting with Alak today. All in the same room. …Iraq is ready and they had to get on the same page for whats coming now, as it will be different than before. imo.. The meeting with those who dot the I’s and cross the T’s were at the central bank today and word is there was cargo leaving the banks at night.. Makes one wonder at this present time why? Don’t forget, the central bank issues cash… all imo.
BGG ~ We buy and sell Dinar. If you would like to buy (or sell) Dinar – Please call me directly, leave me a message on voicemail, send a text (615-509-6256), an e-mail or FaceBook message me. These all work.
Mountain Goat – Dinar Guru [Is the CBI saying replacing the larger 3 zero notes with new currency?] If they remove three zeros the IQD it will be replaced by a new lower category currency thus when the CBI reinstates the currency they will have to raise the rate. But they do not need to get all the 3 zeros notes changed over. In fact the plan does not call for all of them either. Once the reinstatement occurs they told us it will take up to 10 years to get all these 3 zero notes out of circulation. So the reinstatement is also pivotal in this process.
Frank26 – Dinar Guru Article: “The supervisory and auditing bodies meet in the Central Bank of Iraq” Quote: “a meeting of the bank held today under the chairmanship of the Governor, and the presence of the President of the Office of Financial Supervision, the head of the board of Securities, and the captain of accountants and auditors, and Vice-President of the Iraqi Association of Certified Public Accountants, and representatives of international audit firms (KPMG, Ernst & Young, Price Waterhouse Coopers).” INTER ………….. NA ……………….TION …………… AL !!!
MilitiaMan – Dinar Guru Article: “The supervisory and auditing bodies meet in the Central Bank of Iraq” Quote: “a meeting of the bank held today under the chairmanship of the Governor, and the presence of the President of the Office of Financial Supervision, the head of the board of Securities, and the captain of accountants and auditors, and Vice-President of the Iraqi Association of Certified Public Accountants, and representatives of international audit firms (KPMG, Ernst & Young, Price waterhouse Coopers).” Alak is sitting at the head of the table and has everyone’s attention…The attention of three of the largest firms in their line of work in the World. They will need to coordinate with each other from here on out. We should all be smiling about now with the timing of the meeting. The numbers not only on the new notes will have to be accounted for and well managed just as contracts will be when during and after the (RD/RI/RV) process of completion of the Monetary Reform and the re construction of the country…IMO.
Mountain Goat – Dinar Guru You all want to know what is holding up the Iraq dinar reinstatement? …We have heard the paperwork is all completed, the approvals given. Even the codes to release the funds necessary for the exchanges to take place are out. Yet…here we sit still waiting. …So the excuse given once again? We are hearing that it is once again…a matter of “National Security” as the NSA stopped the final trigger. As they have done so many times in the past. I am certainly not one to call the RV every day or every weekend but I know without a shadow of a doubt that this time it was supposed to go. Yes, it was planned for…Jan 19th 2019 exact timing unknown. The Central Bank of Iraq is reporting that “this is getting old” and that something must be done. They need their currency to move ahead with the reconstruction funding payments…
Kirk H. Sowell – Noted Author So another parliament session with cabinet votes not on the schedule. The deadlock continues.
Breitling – Dinar Guru I think Iraq’s oil production is about 4 million barrels per day…Iraq is the second largest oil producer in OPEC and the 5th largest oil reserve. So look at the Saudi Arabia currency, what’s the value of that?
Mountain Goat – Dinar Guru In today’s news we are also seeing more pressure to stop or greatly limit the currency auctions. OH – but how can they do that without putting the dinar on a FLOAT and reinstating it back to it former glory on the global currency exchanges? Simply put they can’t… This reinforces again that something is about to happen with the Iraqi currency. It almost has to as the pressure is building and the bubble is about to pop. January is only half over and so there is plenty of time yet to see some more actions in this direction. How far can they proceed without the reinstatement?
Breitling – Dinar Guru What are you guys [Iraq] up to? Ok so you don’t revalue at 54 cents, 90 cents…you can do 10 cents. I know you guys can do that and you don’t even have to blink. It’s not going to hurt your economy one way or the other. How do we know that? Look at the other currencies in the middle east…that’s how you figure that out. So after Saudi Arabia who’s the biggest producer of oil in OPEC? It’s Iraq. Iraq has the 5th largest reserve in the world…So you start looking at these other counties and what they produce and how much their currency is and it doesn’t make sense does it? Remember I talked about undervalued stock? Undervalued currency is that simple…I love it cause that’s how it works.
Adam Montana – Dinar Guru […does Brexit have any effect on our Dinar investment?] In a roundabout way it does, because global events always have some impact… so, yes. But it doesn’t merit any concern for us at this time.
Kaperoni – Dinar Guru A few people have asked for my opinion on the recent float article as to what “forced” means? My view when I read the article is this MP is saying we can continue to have citizens on state payroll and take loans to support the budget or we can learn from some of these other countries and float the dinar and invite foreign investment into the country. I don’t think its a question of being forced...just a decision to get away from a state run oil dependent country and create a private sector supported by foreign investment. So a float is what is coming.
Breitling – Dinar Guru …They [Iraq] don’t have to revalue in one big pop or shot. They can revalue little by little. I’m not talking about a tenth of a penny. I’m talking about adding 10, 15, 20 cents a pop. Why they haven’t done it yet I don’t know. I simply do not have an answer for that. Because if I was them that’s exactly what I would be doing. I understand they have to protect themselves and not make it too expensive overnight to invest in Iraq…90% of their export is oil. That’s their economy. And the price of oil is going down so they are not making as much money. $56 a barrel is their break even point. I think it’s $54 to $56. They don’t just have to revalue for their sake. They have to send signals out to the international markets saying “we’re out to play.” If they are going to keep their currency low people are not going to send product to Iraq to be able to trade. It kind of binds them up. They need to start doing something.
MilitiaMan – Dinar Guru “FROM IRAQI TV: The Economic and Investment Committee…. Iraq may be forced to float the dinar to encourage investment in Iraq.” Using words like Urgent Measures to reduce Auctions earlier, and now they may be FORCED to FLOAT the DINAR!!! The language is very powerful, thus, it is very important.. Again, the CBI stated the other day now, that the 2% fee on $20.00 (transactions) will cease on Sunday, thus, the take away is they may show us smalls.. imo.. Why all the Urgency? Logic points to reforms being completed, thus, change is coming...imo.
Delta – Dinar Guru FROM IRAQI TV: The Economic and Investment Committee…. Iraq may be forced to float the dinar to encourage investment in Iraq.
Mountain Goat – Dinar Guru Article: “WHEN WILL THE IRAQI DINAR BE REVALUED?” So again the CBI is telling us and I quote – “the revaluation of the Iraqi dinar is ready to be implemented by the country’s Central Bank; however, the Parliamentary Economic and Investment Commission HAD DECIDED TO POSTPONE THE REVALUATION UNTIL NOW TO 2019”.
What is this telling us?
1)Again the CBI does not work alone and needs the support of the rest of the government.
2)The project to delete the zeros was postponed until 2019. Again…this confirms that perhaps this year of 2019 is our year to get it done.
It is now January 2019 folks!
Kaperoni – Dinar Guru I…want to point out every year someone says look at the budget for a change. …The budget has nothing to do with any reforms and can be made retroactive at anytime.
MilitiaMan – Dinar Guru The answer from the contact specifically says…as I have and others have suggested…They are article 8 compliant imo … Like has been said for years, they don’t have to tell us.. But by actions they are. …In other words. Imo, They show us they are article 8 just as they rightfully can without yet specifically saying so for 30 days …
Delta – Dinar Guru Single Currency Crosses…LOT OF MOVEMENT NEVER SEEN BEFORE…SPECIALLY…EUR/IQD AND GBP/IQD…
Adam Montana – Dinar Guru As much as we all hate “I told you so’s”, here are a couple. Headlines from the past couple days include: 1. BREXIT. When this was first brought up in 2016, I voiced my opinion that it wouldn’t be successful and not to worry about it. As of this morning, it looks like the whole thing was a huge waste of time and is going nowhere… time will tell, but I could have told you that as well. 2. Did you catch my update last week? One of my talking points was oil, the price per barrel, and Iraq’s sneaky but convenient exception to the ongoing limitations on production by OPEC members. Just look at these headlines… [post 1 of 2]
Mountain Goat – Dinar Guru Should we get our bottle of champagne ready? I have to tell everyone the CBI is still telling me they are targeting the month of January. I would not open your bottle of champagne and celebrate as of yet but I certainly would think about getting a nice BIG bottle and get it chilled and ready. But remember this saga is not over until the fat lady sings. Too many signs are showing us that this could finally be our month to see it. It has been a VERY long journey but I thinks perhaps it is coming to a conclusion…finally….
[post 2 of 2]
Mountain Goat – Dinar Guru Will the reinstatement happen in 2019? We don’t know when the reinstatement will occur for sure and many say the project to delete the zeros is now all done. So go figure? …This news is coming from some VERY credible sources of information… …there are no more delays expected. The process is on the move. They are telling us once again 2019 is our timeframe. OK – hold on to your horses! I do not know the exact timeframe in 2019 but all we can confirm is two things – 1) they just told us this week in the news media that 2019 is our year and 2) we know they normally like to target January and we still have half of the month of January remaining. So let’s see what happens in January and if it does not happen then we move to another target. [post 1 of 2]
Kaperoni – Dinar Guru A member of the Economic and Investment Committee said today that Iraq may be forced to float the dinar to encourage investment in Iraq…Sound familiar? There is no doubt in my mind we will see the dinar float at or about the same time as the launch of the banking system and market economy for investment. Hang in there. This seems to be the year Iraq will move forward launching a private sector and encouraging foreign investment.
Daytrader – Dinar Guru All that happens as the result of the consultation is agreement on a plan of action to make any necessary corrections. There is no failure, only a plan of action to rectify concerns. Iraq and the IMF have been planning the reinstatement of the IQD for a very long time, and during this time they continued to develop and fine-tune the process specific to Iraq’s needs. IMO this has nothing to do with nor will it have any impact on what we seek. [post 2 of 2]
Daytrader – Dinar Guru A number of members have expressed concern over a statement regarding an IMF Article IV consultation not occurring until later this year. This is Iraq’s normal Article IV consultation schedule. Most countries have an Article IV consultation with the IMF every 24 months, including the United States. It provides an opportunity for both the IMF and the country to discuss specifically where the country might have monetary policy or procedural shortcomings that need correction, and review what they’re doing that meets Article IV criteria. [post 1 of 2]
Mountain Goat – Dinar Guru Question: When will the 3 Zeros be DELETED? The CBI will only complete the project to delete the zeros until the CBI and the finance committee can come together on an agreement as to when to do it. Then we hope nothing changes their mind in the meantime since scheduled. We are not waiting for the economy to take off or for reconstruction to first happen. I know for a FACT that the reinstatement is part of the condition by the IMF to release reconstruction funds. This was a plan from 2018-2022 so it already late. They need to know that the funds are secure and will be used for this purpose. …This is what makes this past May 2018 election so important. Investors and the IMF want technocratic cabinet members who are honestly going to move Iraq forward. No more playing games. They don’t care how long it takes. They will not budge until the government is fully formed and Iran is out of the politics to a point they can no longer harm the process.