Breitling – Dinar Investors …It [protesters] actually has an advantage for our investment. Because it’s putting pressure on the Iraq government to add value. So not only are the oil prices going down, not only has the reserve been depleted, now you have people rioting because they are not being taken care of and they need to add value to their currency. So it advances our investment. It advances our speculation…
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We have Dinar – Our Current Price is $975 per million (shipped).
Dinar Investor – Jeff …we still have 2 things remain for the rate change. They have to finish the formation of the government… positively or tentatively next Tuesday…Iraq went from telling you nothing about the formation of the government regarding the education minister, Health Minister…And they were Able to magically out of nowhere put nominees in there at the blink of an eye like it was nothing…They were intentionally delaying and timing…to have the government finished and formed around the timing of the rate change. That’s why they were delaying it and dragging it…they voted them in in two seconds. They had to change what they were doing to satisfy and appease the demonstrators…they are on track to get it done…this is happening right in front of you. This isn’t my opinion…we’re waiting on the 2020 budget which will get done next year…
Kaperoni – Dinar Guru People can only sit for so long with empty promises to they get restless. The government needs to activate economic reforms, laws and the banking system needs to get open for investors to come in. Otherwise violence is only going to escalate.
Chattels – Dinar Guru Article: “Iraq, China launch ‘oil for reconstruction’ agreement” Quote: “When Iraqi Prime Minister Adel Abdul Mahdi led a delegation to China in September, Baghdad and Beijing activated an “oil for reconstruction” and investment program. Under the arrangement, Chinese firms work in Iraq in exchange for 100,000 barrels per day.” Certainly is a different means of monetizing oil or bartering oil for desperately needed services that Iraq cannot arguably otherwise afford. The foregoing would appear to DIRECTLY contradict Kaperoni… “Oil credits and reduced prices for oil is all… nonsense…Iraq could never sell oil in exchange at a reduced price…because the budget is 90% dependent on Iraq’s oil exports”.
Kaperoni – Dinar Guru Article: “Finance Committee in the Iraqi Council of Representatives announced on Monday (19-August-2019) the government direction to reinstate the currency and delete zeros from paper currency in order to strengthen the national economy” You better hope that doesn’t happen because they’re talking about a lop it’s clear as day…”I want to remove the zeros off the paper“…meaning lop them. …my hope is the CBI is going to follow the directive of the IMF in float the currency and allow it to gradually rise based on the influx of capital as a result of significant investment to create a market economy. But as a backup it seems that Parliament wants to pass a law to Simply lop the zeros off the notes and create a one-to-one exchange rate, as well as reducing the currency from trillions to billions… We have to hope Iraq succeeds in launching this market economy.
BGG ~ I’m not sure this is as much a “slam dunk” translation as is laid out here. Further…
1) How would this POSSIBLY reconcile with all their previous statements that the new and old versions would co-exist in the market place for as long as 10 years? How would this be possible?
2) Also note the following post regarding Kaperoni’s dramatic statement about oil credits being “nonsense” followed the very next day by an actual news release out of Iraq detailing just such an arrangement agreed to by both Mahdi and China. Hmmmmm….
David M. Witty – Dinar Guru Iraqi PM Abdel-Mahdi: tomorrow [Thursday], Parliament will vote on making ministerial changes, amending the constitution, & changing election laws. We want to make real reform.
Adam Montana – Dinar Guru I have a longer weekly update prepared, but until these protests calm down… the GOI has their work cut out for them. It’s a shame that this is happening, because I had some information towards the end of last week that had me getting pumped up. As much as many of us don’t like it… Iraq needs to wade through this mess, and get the protests calmed down a bit before they can take their next steps. Don’t shoot the messenger. The good news is that we aren’t experiencing permanent setbacks. This too shall pass, and when it does, the progress will resume. These types of situations are usually short lived…
Dinar Investor – Jeff Remember the CBI and the GOI are completely autonomous. So whatever happens with the GOI it has nothing to to do with the CBI. The CBI controls the money. The GOI controls the government and they work with the people. The only thing the CBI is seeking from the government is stability. Before they will agree to change the rate, they want the GOI to have a formed completed government…and they also need to have an approved 2020 budget because that’s where post rate change monies will come from for reconstruction, Article 140 and the HCL… [post 2 of 2]
Dinar Investor – Jeff …everybody else was telling us that Mahdi would be removed and that the government would be dismantled. Why aren’t you giving us any of those details? Great question. Thank you for asking. Here’s why. From the beginning I have told you that the demonstrations would have no bearing on this investment. If anything the demonstrations have confirmed and proven everything that I’ve been telling you since the end of August…the demonstrations have had no bearing. [post 1 of 2]
Mountain Goat – Dinar Guru …as an investor in the dinar, we are not yet seeing the currency reform demand of the protestors being met. Let’ s see what happens in Thursday’s session in parliament…
Kaperoni – Dinar Guru Oil credits and reduced prices for oil is all… nonsense…Iraq could never sell oil in exchange at a reduced price…because the budget is 90% dependent on Iraq’s oil exports. And over 50% of the annual budget itself is salaries. Therefore they could never sell oil for less that that amount in the budget calculation for a particular year or they couldn’t meet their budget not to mention they wouldn’t be able to pay their people. Maybe someday if Iraq ever had a fully functional market economy and diversified to 50% or so and the state payroll was less than it is they may be an opportunity to do something like that but that is so far in the distance…
Mountain Goat – Dinar Guru So, there was talk of dismissal of current prime minister Mahdi. According to the constitution this would be a no confidence vote. So what happened on this vote on Saturday? A parliamentary source said on Monday that the House of Representatives will hold its eighth session to discuss the demonstrations on Tuesday. The source said in an interview with Alsumaria News, “The House of Representatives will be held at one o’clock on Tuesday, its regular session.” He added that “the session will be dedicated to discuss the demonstrations and take the necessary measures to meet the demands of the demonstrators.” [post 2 of 2]
Mountain Goat – Dinar Guru The Iraq protestors continue until the list of demands are met. We know these demands include stopping the currency auctions. We know if they do this they will then move the dinar to trade international. We have been waiting for this for many years as investors in the currency. But the question is – will this protesting effort actually put pressure on them to do it? We know there is already a plan to roll out the smaller and the small category notes and coins by the CBI. They keep telling the people of all the corruption but it seems to make no difference. [post 1 of 2….stay tuned]
Chattels – Dinar Guru Article: “Parliament officially votes to freeze the work of provincial councils” Quote: “…The House of Representatives officially voted to freeze the work of the provincial councils. It also voted on the recommendations of the parliamentary committee charged with considering the demands of the demonstrators” It appears that the Iraqi Parliament managed to obtain a quorum for today’s business.
MilitiaMan – Dinar Guru …The so called brotherly neighbor has tentacles deep inside helping them selves to the cash cow called Currency Auctions. I don’t disagree, there are things in the country that are and will be far from over. However, one good way to solve this is to stop the auctions, raise the value, which will provide jobs that will come from going international with a new internationally excepted currency. This would be a facilitator for global trade for the world which will in turn, beget purchasing power for the citizens, while they grow economically with the new jobs created from the positive effects of raising the value. IMO.
Bloodloch – Dinar Investor There are somewhere between six and a dozen or more different factors that may influence exchange rates, depending upon who you are talking to. The money supply or currency issued is just one of them. Investor speculation, interest rate differentials, inflation rate differentials, gross domestic product, international investments, trade deals, and other factors all may come into play. At times it may seem like such determinations are more art than raw number-crunching science, or perhaps it’s just whatever the central banks want it to be in order to achieve some global political agenda. Investopedia says, “… exchange rates are determined by numerous complex factors that often leave even the most experienced economists flummoxed… ” I couldn’t agree with them more.
David M. Witty – Dinar Guru In ministerial cabinet meeting, Iraqi PM Abdel-Mahdi makes promises to meet demands of protesters: corrupt officials to be held accountable, land & housing for those with low income, interest free loans, opening Army to volunteers.
Dinar Investor – Jeff They still have two major things to do before the rate can change. This is based on current facts. What I’m telling you can change through time but as where we’re at right now with current facts – the two things remaining are they have to finish the formation of the government and approve the budget…then they can change the rate. That’s exactly where we’re at. The facts are unfolding right before your eyes…
Halbousi vows to put whales of corruption behind bars
Halbousi vows to put whales of corruption behind bars!!
MilitiaMan – Dinar Guru Lets hope the fire the citizens brought out over the past 5 days has the affect we await and they need! I have a feeling that the support they are getting from around the world, is squarely on the politicians backs now. They’ve been AWOKE imo… timing now is crucial for them to complete the reforms and get the market economy underway and international, ASAP. As that will usher in the employment and put purchase power in their hands. ...lifting the value of the currency will actually fix things! imo…
Dinar Investor – Jeff Sadr is now backing down from removing the government. Because their hands are tied and boxed in a corner (waiting for the RI). They could only offer 3 items to the citizens: 1. Jobs. 2. Cheap Housing. 3. Money.
Kaperoni – Dinar Guru They’ve been using wheelbarrows for years what’s the difference if they have to use them a few more? They’re either going to do one of two things they’re either going to Lop first to get to 1 to $1 exchange rate reducing the money supply from trillions to billions. And then float the currency allowing it to rise. Or they’re going to just float it from the beginning and allowed to gradually increase over time allowing them to reduce the money supply we don’t know that answer yet but it’s not going to RV
Larrykn – Dinar Guru Articles: “Saleh, al-Halbousi call for maintaining community security of protestors“; “Arab League voices concern over unrest in Iraq“; “Baghdad`s protests death toll rises to 100 and injuries to 4000” I hope they can settle the people down soon , this can be either good or bad for the country, they will either get off the pot or stall. we shall see
Kaperoni – Dinar Guru These Iraqi protests have gone on now for several days. This is not what we as investors want to see happen. Delays in reform and investment will be the result. Not good…They need to get investment and companies to come in and put people to work, that is what will raise the value of the currency.
Mountain Goat – Dinar Guru “IRAQ: DEMONSTRATIONS OVER UNEMPLOYMENT, CORRUPTION AND POOR PUBLIC SERVICES.” …they were demanding currency reform. …The protestors actually do have this on their list of demands. This is all VERY good for us and our investment. A government like the GOI can’t keep making these promises to the people and then do nothing. Eventually the people will rise up and do something to get what was promised…is the GOI going to meet the demands? We know one of them is the currency reform. The demonstrators gave them 15 days to meet the demands.
Kaperoni – Dinar Guru I am very confident with all of the economic activities going on in Iraq that they certainly will launch a market economy and receive private investment to rebuild the infrastructure next year. They must open the banking system for that to succeed and float the currency.
Mountain Goat – Dinar Guru Article: “THE NEW SESSION OF THE BAGHDAD INTERNATIONAL FAIR WILL WITNESS A MAJOR BREAKTHROUGH FOR THE CONTRIBUTION OF THE PRIVATE SECTOR” …the more the private sector is engaged in Iraq the more likelihood they will have to change over from the currency auctions and go to a free market economy, thus get the currency on FOREX.
Larrykn – Dinar Guru Articles: “Iraqi protests turn deadly as security forces open fire on demonstrators“; “UN expresses concern over violence in Iraq protests” this should get the attention on the government. they better get going or the whole government will collapse. This might be the turning point for Iraq.
Dinar Investor – Jeff …Historically they [Iraq] had a 3+ value…notice how they keep telling you they’re trying to come out with lower denoms and then back in August and September they put out all those articles telling you coins…so yes they will be coming out with coins and lower denoms at an increased rate…clear back into the early 1970’s they had a 3+ value…the article from yesterday said $3.37 as of 1973. That’s before I was even born. I was born in ’75. That tells me Iraq is the wealthiest country in the world. So when you come out and tell me, ‘Oh yeah we think the rates gonna go to 1+’, I laugh in your face because Iraq is the wealthiest country in the world and back in ’73 they were holding a rate of $3.37. That’s huge…