9-19-2017 Newshound/Intel Guru Mnt Goat So first of all, I want to tell everyone right up front there is NOT going to be a reinstatement or revaluation of the Iraqi dinar this week. There is no indication of this happening. Today’s news is mostly about the Kuristan referendum with only a week remaining until September 25th deadline, the day of the proposed vote. Meanwhile the Kurdish media reports revealed that the KRG is planning (if necessary) the issuing its own national currency pending its release, once the region's declaration of independence, dubbed "DRO", which means "dinar" in Kurdish, is announced. WOW! WOW! and WOW! What impact could this have on the newer currency we know will be shortly issued? Will this hold up the reinstatement?
9-19-2017 Newshound Guru G-Lin I'm...excited about the...art. stating the IMF gave them instructions to cancel the remaining restriction on the exchange rate and practice multiple exchange rates, And the implementation of measures to combat money laundering and the financing of terrorism and fight corruption. To me this is saying remove that last restriction and give the dinar a true rate and that would eliminate MCP and by doing so it will fight terrorism and corruption. It also says to me that they are Art. 8 compliant and they need to de-dollarize...this has been requested by the IMF in every Art. !V consultation I have read and now it sounds like a direct order. We don't have any idea when this will happen but Iraq started listening to the IMF this year and in order to get the loans from them and the World Bank, they must perform to their instructions. Add to all of the above the fact that the second amendment to the CBI Law was discussed in Parl. last week it makes for some pretty exciting speculation. If they aren't ready to change the value, they are making preparations to do so. As usual this is just my opinion.
9-19-2017 Newshound Guru Shredd Article: "The central calls for new controls for the retail payment system" Quote: "...the central bank was keen to implement plans aimed at facilitating the transition to a market economy and liberating itself from the totalitarian regime, which has become totally incompatible with the requirements of the current stage." I also like the point that the existing system is incompatible with the stage they are CURRENTLY at! Not the stage they want to get to, the stage they are CURRENTLY at! So, they are ready NOW to transition to a market economy. Awesome article!
9-19-2017 Intel Guru RayRen98 [Why would they get to this point and just hold everything? Or is just US that’s on hold?] It’s not just us on hold, it’s a process that is unfolding in its own time and space. Yes, we expected good news over the weekend. That doesn’t mean it’s being held up; we won’t know until it happens or doesn’t happen on the office release date.
9-18-2017 Intel/Newshound Guru payray Article: "Referendum and reconstruction in the bag Abadi to Washington" This is certainly a great sign as Abadi is basically affirming to the world that he has got this through his visit to the UN... If the PM of Iraq were not confident of this, would he actually be there declaring such things?... Iraq is unified, rebuilding, and will accomplish these goals with the help of the US, and other nations...
9-18-2017 Intel Guru RayRen98 On Friday we talked about the screens showing live rates, with the possibility of visiting banks on Monday or Tuesday. Some were on the alert on Sunday for possible activity but apparently it didn’t materialize. Once the switch has been flipped, this could come down in a waterfall, or in a small trickle, we wont’ know until it happens. [How confident do you feel about Abadi’s statement that in September the economic reforms will be complete and the world will feel Iraq’s value?] Apparently he already did: Abadi said economic reforms are complete. It’s now in the past rather than the future, and that’s why we are all excited on this side. So we are patiently waiting to see any signs or proof of that.
9-18-2017 Intel/Newshound Guru payray Article: "Sulaiti: more than 90 billion dinars debt Basra companies and contractors" So with all of this debt owed, the companies are just going to keep on building without knowing whether they will be paid?... These companies are not into philanthropy folks... They are they to make money... Theses companies know that the bill will be paid in full, or all construction would cease immediately...
9-18-2017 Newshound/Intel Guru Mnt Goat Article: "PROPOSALS TO BENEFIT FROM OIL REVENUES" Quote: "...it is necessary to work according to a clearly defined long-term strategic vision that includes optimizing the oil revenues... And the importance of the availability of laws and legislation governing foreign investments such as the oil and gas law and the environment law..." After reading this article...I dare anyone to tell me that Iraq already has a clearly defined oil and gas policy such as needed in HCL. They may have a plan but we keep seeing that it is not sufficient for what they need and is not clear. There are still amendments to HCL that need to be passed and are sitting in parliament.
9-18-2017 Newshound Guru G-Lin Article: "IMF calls for the restructuring of the rational and Rafidain Bank" Quote: "The International Monetary Fund (IMF) on Monday called on the Iraqi authorities to restructure the Rasheed and Rafidain banks and strengthen the legal framework of the central bank, calling for the cancellation of the remaining entry on the dinar exchange rate." This is Big..."and cancel the remaining restriction on the exchange rate and practice multiple exchange rates"
9-18-2017 Newshound Guru Kaperoni "Federal Supreme Court Press Release Regarding Kurdistan Referendum" Quote: "The Federal Supreme Court held its on 18/9/2017 in the presence of members of all considered the requests to stop the referendum procedures in the Kurdistan Region and in the areas covered by the referendum." Iraqi Supreme Court stops referendum...
9-18-2017 Intel/Newshound Guru tman23 Internet Education...Floating rates are determined by the market forces of supply and demand. How much demand there is in relation to supply of a currency will determine that currency's value in relation to another currency. ... Governments of emerging market countries often do this to create stability in the value of their currencies...
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