Breitling – Dinar Guru Question: “What are Iraq’s currency financial policies?” They’re asking this for the sake of IQD. Their [Iraq’s] number 1 policy right now is to get companies and countries into Iraq that want to do business and then at the same time they’re lowering their debt. That’s the one-two punch. You all know they want to add value to their currency… [Post 1 of 2….stay tuned]
Breitling – Dinar Guru Watch policy and guess what? You’ll find out this whole thing is clear as a bell. Iraq is going to revalue. They’re going to add value to their currency and there is no threat to it…I don’t see anything negative going on at all...It’s very simple they want to add value to their currency. They’re trying to find a way to do it. Remember it’s an artificially devalued currency. They need to find a way to maintain the rate they come up with. There’s more than one way guys… [Post 2 of 2]
Pimpy – Dinar Guru There’s good news…Article: “Parliamentary Finance: High oil prices will eliminate the need for loans” That’s right clap your hands! Thank God. Seriously. We don’t want Iraq taking loans out because then you become beholden to the lender. Whether it’s the IMF or the World Bank or China... Quote: “…high oil prices will cover the operating budget deficit without going to internal or external loans.” What does this mean? If you’re able to cover the deficit, able to get back on track, you’re implementing new programs, well maybe you don’t need to wait 3, 4, 5 years for a rate change. They’re recovering a lot faster than people think. This type of news is good.
Kaperoni – Dinar Guru Sandy wants to get into a discussion with me about floating the Iraqi dinar…read the IMF Article IV Consultations…quote from the IMF Article IV consultation of 2013: “14. The de facto fixed exchange rate has served Iraq well. The authorities agreed that a stable nominal exchange rate provides a valuable anchor for inflation expectations in an uncertain environment, and intend to continue implementing this policy for the foreseeable future. In the medium term, staff encouraged the authorities to consider creating the conditions which would make possible a move to a more flexible exchange rate policy. Such flexibility could allow a predictable and gradual appreciation of the nominal exchange rate, triggered by strong oil revenues and the Balassa-Samuelson effect, to accommodate a possible real exchange rate appreciation while keeping domestic inflation low.” In plain English the IMF is encouraging Iraq to get off the peg and move to a float to allow a predictable and gradual appreciation over time as the economy grows. They are not talking about devaluation.
Sandyf – Dinar Guru Kaperoni is right in that no country could ever revalue in the way suggested, and in particular Iraq. He is also wrong in trying to make out there would be any benefit in floating he currency. No country that has ever been forced into a flotation has gained value in the short term. The guru BS continually refers to Kuwait but that is fake news, there never was any RV in Kuwait. During the occupation Iraq replaced the KWD with the IQD as the national currency. The Central Bank of Kuwait went into exile and continued business as best it could, after the occupation the KWD was reinstated as the national currency at the same value it had before. Anyone interested in what actually happened should read the document “The Impact of the Iraqi Invasion on the Kuwaiti Banking and Financial System: Lessons Learned from a Financial Crisis”
BGG ~ Or read the reprint of the LA Times article detailing the event which we have published numerous times.
Kaperoni – Dinar Guru An article…came out from economic adviser Saleh stating Iraq cannot float the dinar because is using the daily currency auctions. He mentions several reasons. This is true. They cannot float while they continue to use the currency auctions. Iraq is only one of a few if even that left in the world using a currency auction. Central banks manage their currency by freedom of movement of capital and supply and demand selling blocks of currency to balance the exchange rate on the global financial system. [post 1 of 2]
Kaperoni – Dinar Guru Remember, the currency auction was created to not only maintain stability but to provide a source of dollars to merchants in Iraq because the dinar had not been recognized internationally for trading and exchange. Not only the dinar but the financial system in Iraq was completely rebuilt from the ground up. That is why they went into IMF Article XIV. Giving them several years to build confidence and stability prior to accepting Article VIII engaging with the world financial system. We expect the currency auctions to end when they accept IMF Article VIII. They will end the auctions, and begin to float the currency which will contribute to the success/growth of the private sector market economy.
[post 2 of 2]
MilitiaMan – Dinar Guru …with all we know and understand the exchange rate has not thus far gone the direction we have been hoping and praying for. Or has it? …The powers that be have been working for years to get the country of Iraq to reconstruct and get back to a rightful place in her region and the world. We can see the progress on many fronts over the past 4-5 years now. But more recently we see a laundry list of crucial items (mechanisms) coming together to facilitate the birth of a new nation of Iraq. …One that is to have an advancement to their internal and external systems like no other possibly in history or at least our life times with or in respect to the “Iraq Marshal Plan”. [post 1 of 2]
MilitiaMan – Dinar Guru This new plan is going to be vastly different in nature from previous era Marshal Plans of the world…The previous were industrial in nature primarily. This one will have and industrial nature of course, but with a new and improved digital component to it…That road is transparency. The new system requires it. The digital world they’ll begin to live with looks to be with the USA help is to go live 05/01/2021 digitally for both Dinar and the Dollar…To do that Interconnectivity is to be international… Article 8 compliant. Cross border payments and settlements for trade require it.. imo… So with having the E-Gov, E- Commerce, E-Borders and new E-Currency we should see an exchange rate change at or before the roll out of the digital playing field they suggest is to roll out May 01. I am very optimistic…Let’s see what the day brings us. imo. [post 2 of 2]
Frank26 – Dinar Guru IMO the budget that…is now going to receive an official exchange rate from a sovereign country that…will be shown to be under Article VIII…you can see very clearly that the action of many countries, many companies…they’re casting a shadow of the monetary reform. They’re not going to come out and tell you, ‘Hey guess what? They told us they’re going to raise the value of their currency.‘ Because they can’t. It’s illegal to do that…a good forensic detective can walk into a room and tell you basically what’s happened in the last 24 hours in that room by interpreting the signs, the clues, the patterns...the monetary reform itself is naked. It’s visible…
Clare – Dinar Guru Article: “Al-Kazemi: We are working to launch a comprehensive investment campaign in Iraq” THIS IS A HUGE ARTICLE – KAZEMI IS ACTUALLY MAKING AN ANNOUNCEMENT… “there will be work to launch a comprehensive investment campaign with the participation of Iraqi and foreign investors,” THIS MUST HAVE THE NEW RATE! imo. [Guru] FRANK26…told us…ABOUT THE EDUCATIONAL CAMPAIGN COMING TO THE CITIZENS… “THE CBI/GOI ARE NOW GOING TO PUT ADVERTISEMENTS EVERYWHERE…TV COMMERCIALS… BILLBOARDS …NEWSPAPERS…REGARDING THE NEW CURRENCY THEY’RE ABOUT TO PUT OUT AND THAT THERE WILL BE A NEW EXCHANGE RATE FOR THIS CURRENCY” …WS [Guru Walkingstick] GAVE US THAT INFORMATION YEARS AGO! BECAUSE HE KNEW IT WOULD BE SO AT THE END…AND WE ARE SURELY AT THE END NOW. IMO IT IS OBVIOUS!
Petra – Dinar Guru Kazemi came out last week and said they need to get 90 billion dollars in their reserves and they’re only at 60. That kinda freaked everybody out. But if you think about it…if they were to come out with a strong rate…you’ve got to remember they’ve done currency swaps with a lot of other countries…Saudi Arabia, Jordan, Qatar, a lot of the GCC countries. They all hold dinar…if Iraq came out and kept their 1450 it would absolutely tank that middle eastern basket. All their currencies would drop. You know that’s not going to happen. That’s ridiculous… [Post 1 of 2]
Petra – Dinar Guru If they come out really strong with their rate when they do their revaluation then all the middle eastern currencies that are the basket value increases. Iraq has their currencies because they did the swap so guess what happens? The reserves inside of Iraq skyrocket. So to me, to cover that 30 billion is going to happen very very quickly if it hasn’t happened already. Not to mention the amount of funds that are out there that they are going to go and repatriate and bring back into the country that were stolen, smuggled or whatever. It’s like $500 billion…yeah I don’t think it’s an issue at all… [Post 2 of 2]
MilitiaMan – Dinar Guru Everything is right here in front of us.
Pimpy – Dinar Guru Rumor has it that a special person’s name we won’t mention…want you guys to send your dinar to him to get a special rate? I’m going to say to you the same thing about gold or silver. If you don’t have it, you don’t own it…
Petra – Dinar Guru I am very excited. We have never been to this place before. We’ve never been in this position before. We all thought things were happening. We thought this was going to happen but we’ve never before have we been in a spot where we know it’s about to happen. And it really gets me excited…
Militiaman – Dinar Guru Saleh…obviously said this today for a reason. He’s talking about not floating the currency. He’s in a sense saying we’re not floating the currency but we’re going to do something possibly different…he’s saying that for a reason because this next stage is going to be very short and he’ll need to have communicated what he’s thinking. Sometimes he tells you the opposite…they tell you what they’re not going to do…in this particular case it sounds like he’s got it sorted that…he’s not necessarily going to float the currency…I’m not saying it’s 100% right but the implications is it should be a strong sustainable exchange rate…
Petra – Dinar Guru The Kurds sent a message to Baghdad saying you have our approval. We approve the budget now implement it. And that’s a quote. We approve the budget we are now ordering you and directing you to implement it. They didn’t say implement in the next 25 days. They didn’t say implement in 2 weeks. It said implement now. I don’t know what else to say about that…you got to move. You’ve got to do something. You’ve got to go…we’ve never been in this position before. There’s always been reason and excuses of why it hasn’t happened. But now it’s at the doorstep. It’s right there…we’re very excited about where we’re at.
Mountain Goat – Dinar Guru Article: “ADVISOR AL-KAZEMI: FLOATING THE CURRENCY LEADS TO THE COLLAPSE OF THE IRAQI MARKET” Salih is referring to dangers if they floated the dinar within Iraq using the program rate not reinstating and then floating it as an internationally traded currency on FOREX. The finance committee keeps pushing for an internal float. So what he is really saying is that if they are going to float the currency then first reinstate it and peg it to a “basket” of currencies for stability.
Breitling – Dinar Guru People can say whatever they want. But you’re sitting here watching somebody build a race car. You ask them are you going to go racing? Or are you building a race car? [They answer] ‘No!’ Well you have a chassis there. You’ve got the biggest engine I’ve ever seen, 6 point harness to keep you in in case you roll, you’ve got roll bars. What are you going to use it for? Doesn’t make any sense. You have to watch what they’re doing physically...They’re not always going to reveal exactly what it is they’re going to do because they can’t because if they do say they’re going to revalue and the word gets out in Iraq they [the citizens] are not going to spend their money. It’s going to cause a huge economic crisis…they’re trying to prop up their own currency. That has not changed and will not change. And that is exactly what Iraq is doing and you can have confidence in it...
Militiaman – Dinar Guru I think you have every right to be excited about what’s going on. I’m looking forward to seeing this final push for them to get this thing done.
Petra – Dinar Guru We all know the budget was passed on the 31st and now the clock is ticking and the pressure is on…the heat is getting insurmountable that the CBI has got to make their move. With that budget passed now all we’re talking about is implementation… Many of the article today they used that word implementation, to implement, implement, begin, get going, let’s move!
Mountain Goat – Dinar Guru I am now being told by my CBI contact that they are moving ahead aggressively with the RV and will replace the older larger 3 zero notes very soon. This means to us RV time! …Let’s all hang on to our hats. This is going to be a very interesting month ahead. We could end up rich at the end of the ride.
Pimpy – Dinar Guru Question: “Are the 800#s real?” Are people still talking about the 800 numbers and redemption centers? Good lord. I think it’s been debunked a million times. Be careful with that.
Kaperoni – Dinar Guru For those interested, over the weekend after being signed off by the Iraqi president the Gazette posted the 2021 budget despite objections from several political blocks.
Breitling – Dinar Guru The reality is…they are passing laws for a higher rate. In other words to be able to manage a rate in their own currency. They are trying to pay off as much debt as they can with the value of the currency that they have today so when it does add value they don’t owe as much. They gain that much more…Iraq is doing all these things that supports their infrastructure that is going to add value to their currency – that supports adding value to their currency. That’s how you know. No country on the planet is going to tell you they’re adding value to their currency because it would literally stop the supply times velocity…
Pimpy – Dinar Guru We need to figure out what the hell these [PM Kazemi] amendments are going to be in the budget. I’m curious to see…don’t let people run you rugged…that the rate change was going to be in there. We don’t know. Cross your fingers and hope it’s true but until they announce it then we’ll know…it looks like Al-Kazemi is going to appeal the budget and make some amendments, some changes to the budget. So cross your fingers…we’ll see…
Sandyf – Dinar Guru The latest issue of the legal gazette which included the budget was issued 12th April and posted to the website today 19th April. Not that it will change anything.
Pimpy – Dinar Guru Article: “Al-Kazemi: We have succeeded in stopping the waste and the great corruption in the Central Bank auction, and we will not stop” …he seems to be doing what it takes to clean up Iraq and to get them back on their feet where they belong. They are a rich country…unfortunately the corruption is so bad and people are so greedy…these are the types of things [Cleaning up corruption] I like. It’s a great reflection on the country when it comes to the international people…this is good. We want to see the corruption being taken care of.
Frank26 – Dinar Guru They will float it [the dinar]. And the reason why is because internally they have fixed it [fixed rate] and they will float it internationally…that float equals a middle eastern basket that the Iraqi dinar will be in there with the American dollar 1 to 1 and all of these other countries that are around the Middle East they’re gonna pour into that basket…maybe 6,7,8 different countries…those other counties will also be 1 to 1 with the American dollar.