9-15-2017 Intel/Newshound Guru payray Article: "For economic reforms and upgrading of banking institutions" Quote: "For the success of this linkage, administrative restrictions have been applied to the external transfer of goods, services and capital movement. Thus, it followed conservative monetary and financial policies that kept the stability of the Iraqi dinar stabilized by the Central Bank at $ 3.2 per dinar." ...this is great news.. If they want to get those 3 zero notes off the streets, 3.22 would certainly do the job...the dollar would be non-existent in no time.
9-15-2017 Newshound Guru G-Lin Article: "For economic reforms and upgrading of banking institutions" IN A NUTSHELL, WHAT THEY ARE SAYING IS: For more than four years, officials in Iraq talk about a project for monetary reform through which the exchange rate of the Iraqi currency against the dollar so that the new dinar is equal to 1.2 dinars to the dollar instead of 1,200. But the move was postponed until a later time because of the exit of some areas of Iraq from the control of the government after the occupation «urged» them. Military operations began to recover these areas, which still exist. The Government is expected to return to the same project after the end of military operations.
9-15-2017 Newshound Guru G-Lin Therefore, it is not possible to cancel the "dollarization" of the Iraqi economy by administrative decision or by administrative orders from the monetary authority, but the phenomenon will gradually disappear because of the reasons that led to it, ie after the monetary reform referred to above, because the dinar will then become an easy mode of trading and a store of value that avoids using the dollar. Raise the value through monetary reform to 1.2 and the hoarding will disappear.
9-15-2017 Intel Guru Bruce Many of you know that Prime Minister Abadi and a couple of other Dignitaries were here and they went up to New York to speak to the UN. I did hear that Iraq did initiate their monetary reforms 4 days ago in Iraq. We were looking for an announcement to reflect the new rate. We believe the Gazette did come out yesterday with the rate, I don’t have it exactly yet. I am not for sure it got released or it will be release Saturday as far as the new rate. Iraq is done. They are moving along well and that will bode well for us in the very near future. We are very close to this going. I hear some things about any day now, and I feel good about that.
9-15-2017 Newshound Guru Kaperoni Article: "Three-quarters of the money supply outside banks and the central circle .. calls for investing" I hate to say it, but this is another article that speaks as if they do not know what they should do. As we have said over and over, they need to get parliament to do its part...passed the laws, strengthen the CBI and get deposit insurance in place. Doing so will invite foreign investment, create a revenue stream outside of oil and help them turn the economy around. Iraq tends to do nothing, then complain about it. It's got to be frustrating for Ali al-Allaq, he has been waiting for his revised CBI Law and parliament keeps kicking it down the road.
9-14-2017 Newshound Guru MilitiaMan Article: "$200 million to support stability in liberated areas" Quotes: "The World Bank has allocated $ 200 million to implement the emergency project to support the stability of the liberated areas..." "...the project will be launched at the end of September..." End of September, interesting timing. I'll bet there are strings attached, as in raise the rate on the IQD first. Imo.
9-14-2017 Intel/Newshound Guru payray Article: "The Federal Government has issued new measures to support and revitalize the investment and reconstruction sector in the country." Sounds as though they intend to industrialize Iraq, and utilize their youth which make up about 50 percent of their population... It is going to be interesting to see how this transition takes place... Will the Iraqi workforce be up to the task?... The diversification of Iraq's economy will take some time to take place... But considering the amount of time, and resources that have been poured into Iraq, those who have so certainly want to ensure that their investment pays off...
9-14-2017 Newshound Guru MilitiaMan Article: "Controller and Auditor" Quote: "External auditors have contracted with internationally recognized and reputable companies such as Ernst & Young, KPMG and PLC, internationally recognized and recognized international audit and account management companies, financial statements and budgets." This to me is telling us they are fully ready to do what is expected of the CBI with international standards. They have contracted with some very big names that are respected globally and that tells me they are not going to be at a program rate in the proximal future...imo.
9-14-2017 Newshound Guru Aggiedad77 Articles: "Abadi close: Barzani will announce the postponement of the referendum after American threats" "Parliament of the region will postpone the referendum with an American advice" Whatever it takes IMO...don't mess with the plans at this stage of the game...wait until you see what will be coming to you...then if you want to upset the apple cart...more power to ya'...IMO...Abadi...say the right words, use the right speech...show the Kurds what is behind Door #2 for them...or would they simply rather have the parting gifts.
9-14-2017 Intel Guru RayRen98 It is being reported PM Abadi publicly announced that economic reforms are completed. The international rate for Dinar is reported s $3.70. Barzani postponed the September 25 vote for independence for Kurdistan due to lack of international support and overall resistance.
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