Kaperoni – Dinar Guru People need to realize that even though the protests demanded change it substantially slowed progress. The new PM needs to be confirmed, a cabinet needs to be named and confirmed and parliament needs to get back passing legislation. Months of delays are expected…
Dinar Investor – Jeff ...Can it [the rate change] only happen on a Sunday? …yes. and the reason why, remember Kuwait did theirs on a Sunday morning. This is not just a small rate change. Small rate changes can happen any day of the week. This is a massive jumbo rate change. The reason why it has to happen on a Sunday morning is because it has to happen when all financial markets around the world are closed to control and reduce market volatility because with that size of a rate change being so massive it would…cause tremendous volatility within the financial markets around the world. They don’t want that…it’s easier for them to do it after hours when markets around the world are closed…
Mountain Goat – Dinar Guru Article: “MUHAMMAD TAWFIQ ALLAWI TO ADDRESS THE 20202 FISCAL DEFICIT” Quote: “AFTER THE PARLIAMENT VOTES BY AN ABSOLUTE MAJORITY OF THE MEMBERS OF THE NEW GOVERNMENT AND THE MINISTERIAL PLATFORM, THE ALLAWI GOVERNMENT CAN DISCUSS THE BUDGET AND SEND IT TO THE PARLIAMENT.” this article is telling us that Allawi’s new government must be formed and ratified by parliament before the new budget can be sent over to them. This is why Allawi must work quickly to form his new cabinet. Also they tell us he does not like the large deficit and so he is going to first address it too before sending it over.
Chattels – Dinar Guru Allawi presents his cabinet in two weeks, and its names will only be announced in Parliament. Constitutionally speaking, Allawi’s 30 days to form a government began on February 2. Not that in Iraq constitutional deadlines or red-lines mean anything. But, two weeks from today will be February 24 or only a week left under the constitution to form a government. Hardly a meteoric pace. Assuming it is done timely which would be a change for Iraq.
Mountain Goat – Dinar Guru …I am hearing lots of chatter about elections in six months…This is NOT going to happen and here is why. The Iraqi legal expert, Ali al-Tamimi, said on Wednesday (February 05, 2020) that the Iraqi constitution did not include an article or a paragraph called “an interim government,” noting that the Prime Minister-designate Muhammad Tawfiq Allawi, would continue to run the government until 2022. …sometimes what you are seeing in the surface is not the entire story…TRUST ME there is a plan and they are executing it. We will see our reinstatement sooner rather than later.
Francis Albert – Dinar Guru […bottom line Iraq can make monitary changes when ever they want I believe it is and has been a security issue holding them back.] It feels that way to me also… I “believe” the CBI has been ready to do something significant. (not sure what this will be). As things cool down and the Iran ‘s influence decreases…something will happen.
Dinar Investor – Jeff …Trump actually picked the year that he wanted this to happen. Obviously Iraq had to have a combination of stability too but Trump most likely wanted this timed for the rate change to be timed with his 2020 campaign theme of a strong economy…all we’re waiting on here is a specific calendar day. [Sunday March 22, 2020]. Iraq does appear to be walking possibly when Kuwait did there’s…everything is looking good.
Breitling – Dinar Guru …what Iraq needs from their budget – how much they make and how much they need – they talk about getting to a billion notes to get to $1.17 and up. At a minimum they need about .53 cents. That’s based on their information. Even though I’m speculating that’s the best math I can come up with based on what they need. They need about .53 cents. That does not mean that’s what they will come out at...
Francis Albert – Dinar Guru Obviously… Kap is throwing the baby out with the bath water. I don’t believe any sensible person believes the Iraqi Dinar is going to go from .00086 to $3.50 overnight. (This is what most believe an RV will be)…What Kap doesn’t see, is the forest for the trees. It is obvious to anyone paying attention to the news, Iraq is going to take their currency international and take off the program rate instilled by the IMF, U.N…So, a hit from program rate to something like .86 popping on Forex overnight, (my prediction), is very possible and doable…of course it will “float”. All currencies are pegged to the dollar and go up and down as people buy them… Kap is right. Who knows how long it will take for it to go up from the initial hit? I think a few months can get us to an “interesting” number. But, hey, .86 is pretty darn interesting, but I wouldn’t sell at this price. That’s my .86 for today (FWIW).
Dinar Investor – Jeff …Iraq’s got a new PM…hopefully by the end of February he can get his cabinet formed…we are not waiting on the formation of that government. Sometimes people might tell you we are. We’re not waiting on the formation of the government. They have their stability they need…Iraq’s transitioning to a new fiscal year. They’ve already told us that the reforms are the large deficit within the budget – that’s all post rate change. Everything is moving in the right direction. We’re looking good. I have not changed my time-frame...Iraq is now walking in Kuwait’s timing footsteps. It’s that simple…we’re waiting on one thing. We’re waiting on the calendar [March 2020]...
Breitling – Dinar Guru …People send me emails asking very specifically if Trump has any sway or anything like that on the Iraqi dinar? Not the Iraqi dinar. He has influence on the price of oil. And he has influence on Iraq’s U.S. accounts. We can freeze those. The dinar itself they have control of...everything we look at and look for that’s what’s going on. They are reducing their note count. Oil prices are going down. They have an emergency budget put together because that exact cause and effect. So here we are...I’ve never had any fear about them adding value to the dinar. Not once…
Kaperoni – Dinar Guru If they float the currency like the IMF has asked. Who knows how fast Or at what pace it would rise. Market forces determines that.
Mountain Goat – Dinar Guru 2) Remember they must go at least 1:1 in rate if they pay out the stipends and this would mean the project to delete the zeros would be necessary. My take on all this is this is what will finally trigger the RV. This would also lead to the reinstatement. We know the banks have already exchanged three zero notes for the smaller category notes and have ample supplies to go ahead now. This happened over this past year. So they are ready for something. The CBI would not be doing all this is nothing was being planned. So, this is all VERY GOOD news for us…I am told this is coming in “the coming days”. However days always seem to miraculously turn into months somehow…lol.., [post 2 of 2]
Mountain Goat – Dinar Guru What does the CBI need? The CBI needs political stability and for the protestors to go home. Allawi is desperately trying to gain their confidence but we know he will have to eventually put out or shut up…he will have to produce something meaningful for the citizens. This is probably going to be the HCL stipends. This is my guess. What do we know about these stipends? 1) Over two months now an agreement has been made to actually begin the payout of these stipends…the referendum has already been written and passed through the parliament in 2018. Like other legislation it just sits on someone’s desk and never gets implemented. Now they agreed to implement it to help in this situation. [post 1 of 2]
BobTheTaxMan – Dinar Guru Question “Let’s say you don’t have the receipt for the dinar when you purchased – you don’t need that to exchange do you?” No. Now earlier in this crazy game we’re involved in there was an idea that you were going to have to have the original date of purchase because they thought it was going to be capital gains. In reality it’s not. It’s going to be ordinary income. It’s going to be no different from exchanging currency you currently have in your pocket. It’s not going to matter. So don’t worry about that part…
Mountain Goat – Dinar Guru Article: “IRAQ BUSINESS NEWS: SERIOUS QUESTIONS ON THE APPRECIATION OF IRAQI DINAR” Quote: “…the “independence” of the CBI was compromised in negotiating and signing a ‘Stand-By Agreement’ with the IMF in late 2005.” This refers to the first stand-by-agreement in 2005. We need to tie this in what happened in 2011-2018 and then into 2019 and how the independence of the CBI was compromised. So please don’t anyone tell me the CBI can reinstate anytime it wants to. This is NOT true. The CBI needs the permission and full support of the GOI which included the prime ministers cabinet and parliament. Now we see they also need the permission of the IMF…
BobTheTaxMan – Dinar Guru Question “Is dinar attached to a social security number -Is there anything special that needs to be done to exchange it?” No. The only reason why they ask for social security number is because of the intensifying of the rules and regulations chasing down terrorists. It just verifies you’re a real person when you buy it. And that’s its whole purpose. You’ll see people selling dinar on eBay or Craig’s List there’s no social security number associated with any of that stuff. When they go to cash it in…they are not going to care where it came from. So don’t worry about that. The only purpose in people asking for that social security number was for the dealerships so they could satisfy some of the IRS standards that are now in place. That’s it.
Angel1 – Dinar Guru …MTA [PM Allawi] is an extremely successful businessman…he has businesses all over England, UK, Lebanon, Morocco you name it. He has had successful businesses. Run huge corporations…we are seeing a direct reflection of what we have in the US. Trump is a businessman. We are getting incredible results because of it…And we are about to see incredible results because of it…he [Allawi] was in Washington several months ago doing what I like to call phase 1 of the interview. I believe he was interviewed for this very position that he’s sitting in by Washington led by Trump…he gave an incredible speech on the importance of an increase of value to the Iraqi dinar. People ask me, ‘what does the banking world think of MTA?‘ He’s one of us. He’s a businessman. He understands value…He is against corruption…this is who is in charge of Iraq now…Phase 2 – Iraq getting him onboard. He’s now onboard. Phase 3 is implementation. I believe that’s exactly where we are right now…
Adam Montana – Dinar Guru Article: “Iran desperately attempts to retain hold on Iraq” …One great example of what’s going on in the background – the stuff we don’t see on the news…Iran is obviously making a last ditch effort to hold ground. Quote: “Iran on Sunday offered its full support for new Iraqi prime minister Mohammed Tawfiq Allawi and reiterated its backing for the government’s demand for US forces to leave the country.” Does anyone think Iran is going to win this ultimatum? I do not. Especially not with Allawi at the helm, who is presumably approved by greater powers than Iran. This is precisely why Iran is making their last ditch, desperate attempt to gain footing… and it looks like a failed attempt from the start. If Iran has any success whatsoever in this attempt, we are going to see it immediately. I can’t wait to see this Iranian attempt fall on it’s face!
Dinar Investor – Jeff …Over the weekend they came out saying that Allawi the new PM might try to get his government formed within approximately 3 weeks. Another article came out saying they were going to open the path to reform and that’s great news but the good thing…is they’re talking in circles…they’re just repeating all of the same information that they have. Clear since last year, reforms, reconstruction and the end result…they’re waiting on the rate change. That’s why they just keep repeating themselves talking in circles…they’re showing you everything’s waiting on the rate change including the approval process of the budget. We’re looking good. Everything’s moving in the right direction…
Adam Montana – Dinar Guru […I still would have preferred the other Allawi…] Agreed on the Allawi we got, but it is what it is and I don’t care who gets the job done as long as it gets done! Whether we see an RV this week or not, I’m very solid that we are going to have a much clearer picture over the next few days.
Dinar Investor – Jeff …Iraq is looking really good. Everything’s moving in the right direction…nothing in Iraq is speeding this up. Everything is moving at the same model speed it always has. Iraq has had a set date since early last year in ’19. Nothing’s going to speed this up or make it move faster. The whole challenge with the prime minister was just a coincidence. Over the weekend someone had jumped in and stated that once the PM comes in that will probably speed up the timing of rate change and wrap this thing up in 30 days after the PM…none of that is accurate…they’ve go a set calendar date. It’s most likely a fiscal year so that would put them right on par with Kuwait.
Dinar News Flash – It’s “official” – Iraq has a new Prime Minister. Mohammad Allawi. He is an interim prime minister and is expected to serve until new elections are held. It’s unclear if new PM Allawi will stick. Many of the protester have rejected his nomination. He comes with a mixed political history. He was Maliki’s communications minister BUT he resigned claiming corruption in Maliki’s government. Some feel he is a good compromise choice – he’s someone the pro-Iranian government official can accept and he’s someone the protestors can believe will support Iraq and not Iran. Many felt the dinar reform could not more forward without a new prime minister in place.
Kaperoni – Dinar Guru A new PM is a good thing, but only a first step. Could still be weeks, months before conditions are right to begin reforms and the creation of a market/private sector. …Much work to be done. Need a cabinet, laws, stability and an acceptable environment for investors.
FLASHBACK – Crush Expected When Kuwaiti Banks Reopen Today
March 24, 1991|From Reuters
Customers will be allowed to withdraw funds and to swap pre-invasion money for a new currency issued to make more than $1 billion in pre-invasion dinars stolen by the Iraqis worthless.
“We expect a rush of people,” said Issam Asousi, an executive with the Bank of Kuwait. He said it could be a chaotic first week because customers have a lot of questions about their accounts.
Kuwaiti banks continued operating during the seven-month Iraqi occupation under managers brought in from Iraq, but they have been closed since the U.S.-led alliance ousted the Iraqi army from Kuwait a month ago.
When the banks reopen today, customers will be able to withdraw up to 4,000 Kuwaiti dinars, equivalent to about $14,000 at pre-invasion exchange rates from their accounts, and to exchange a like amount for foreign currency.
Balances of customers’ accounts will go back to what they were on Aug. 1, a day before the invasion.
Clients will not be able to exchange Iraqi currency issued during the occupation, when Baghdad pegged the rates of the strong Kuwaiti dinar to the far less valuable Iraqi dinar.
The new Kuwaiti money will be exchanged for old at a one-to-one rate.
Sandyf – Dinar Guru [Kuwait tried to work with Iraq on how they RI’d their currency in 1991 but left on deaf eyes. Kuwait’s currency went from 0.05 usd to 3.48 usd.] That is a dinarland myth. During the occupation the national currency of Kuwait was the IQD…the KWD was unrecognized and the currency had no value. The IQD has always been the national currency of Iraq and as such cannot possibly be reinstated. Some try and claim the value would be reinstated, more rubbish, that would be a revaluation.
BGG ~ We have published the facts (with News based sources) regarding this scenario for a long time. Regarding the IQD, the correct terminology is “A CHANGE IN VALUE – or APPRECIATION”, particularly when the IQD is referred to (almost universally) as GROSSLY UNDERVALUED.
Delta – Dinar Guru Article: “Tawfiq Allawi thanks Saleh for assigning him to form a government and pledges to prepare for early elections” IT’S A DONE DEAL IT’S ALL OVER THE NEWS IN IRAQ…THE PM THAT WAS ELECTED WILL BE IN POWER UNTIL THE NEXT ELECTION. AND NO…WE DON’T HAVE TO WAIT UNTIL THE NEXT ELECTION TO MR. (Monetary Reform) THE CBI IS MOVING FORWARD AND THEY CAN’T GO BACK IT’S A ONE WAY STREET NOW. IMO THEY HAVE A DATE SET. …THE CBI TOLD US…THEY MADE THEIR MIND AND THEY ARE MOVING FORWARD NO MATTER WHAT AND THAT IS FACT NOT OPINION! …PM IS AN IMPORTANT FACTOR…BUT CBI CAN’T HOLD IT THAT LONG ANYMORE…
Chattels – Dinar Guru “In Iraq, Mohammed Allawi official nominee to be next PM after political blocs reach agreement.” It would appear that these reports confirm Allawi as the PM designate. Allawi will propose Ministers and he with them must be “elected” by the Parliament individually. Remember Allawi may only be the interim PM until the new elections. Allawi’s nominees for ministry position will be as interim with his government.
Mountain Goat – Dinar Guru Article quote: “An informed political source revealed, on Saturday, the political blocs agree on assigning candidate Mohammed Allawi to head the government this afternoon. The source said to “Al-Alkhbaria” that “the political blocs agreed to name Muhammad Tawfig Allawi as prime minister after the approval of all parties.”
Kaperoni – Dinar Guru The Iraqi president has chosen a new prime minister to form a government… Muhammad Tawfiq Allawi. Hope this one holds and everyone can agree.