8-30-2019 Intel Guru Frank Article "Issuing a package of decision related to the entry and exit of funds across the Iraqi borders" ...today [Wednesday] the CBI came out and said...for now on anything less than $10,000 American dollars can enter Iraq and it can leave Iraq...$10,000 to $20,000 American dollars requires documentation...anything more than 1 million IQD coming in or out of Iraq is not allowed...Is 1 million IQD equal to $20,000 American Dollars?...Is this the initial exchange rate?...that was an interesting article.
8-30-2019 Newshound Guru Kaperoni Some might look at this IMF directive as "old news" but it's not. These directives don't change and take time to impliment. And in the case with Iraq it took them 5-6 years to accomplish. With of course the help of the IMF stepping in, in December 2015 signing an agreement to become trustee and facilitating/oversight on monetary reforms at the CBI.
8-30-2019 Intel Guru MarkZ We are down to crunch time if they indeed want this done before Sept. 1st. European contacts now say liquidity and release of all holds on accounts will occur over the weekend. I don’t think it’s can kicking…just logistics /coordination as Iraq says they want it done by the 1st. I hear in Iraq that the new rate will be between $3.91-$4.25. My contacts at redemption centers are on call this weekend and have been asked not to go more than 50 miles away this weekend. I think we are at the tail end of this and will see something happen Sunday and Monday.
8-29-2019 Newshound/Intel Guru Mnt Goat so this is one of the WOW articles we have been waiting for. 1. they just told us they passed the needed legislation in parliament needed by the CBI to get the coins re-minted and in circulation... 2. it is the re-education article we have all been waiting for so long. Its here and we should be all jumping up and down for joy; 3. repeatedly whenever they talk about the coins they also talk about the project to delete the zeros in the same breath so we know for sure they fully intend to do both concurrently. This is exactly what we need to get the increase in rate of the dinar;
8-29-2019 Newshound/Intel Guru Mnt Goat 4.they are telling us the coins will be used in trade with other countries. Does this mean the currency auctions using only US dollars for trade will stop? It appears they will have to if this article is correct. Remember using the dinar will create a demand for it. When this happens it will become more valuable outside of Iraq...the value will rise, thus the rate will have to rise too.
8-29-2019 Newshound/Intel Guru Mnt Goat 5. we find out that the currency reform is in FACT now part of the country wide reform package. Article Quote: "part of the currency restructuring plan and banks includes the creation of coins for trades. Finance to support the national economy." But remember they are not saying anything in the article on the process about reinstating the dinar on the global currency exchanges. At least not now. They probably won’t either since they are so close. If they do it will be be after the event...As you should know this is when we go to the bank and not before...
8-29-2019 Newshound Guru Kaperoni I do not believe Iraq would LOP or re-denominate the currency, the IMF certainly has not stated such and Iraq has demonstrated for several years a successful monetary policy including over the last year and a half where they've maintained a 2% spread or less. But I also don't believe they could ever substantially RV/RI the currency because there's just too much currency in circulation. People doubt the fact that the CBI and IMF have reported in excess of 42 trillion. It's in print for all to see.
8-29-2019 Newshound Guru Kaperoni And as I've said before they cannot reduce the money supply...because Iraq currently utilizes a currency auction to stabilize the currency and provide a source of foreign exchange for imports. This technique requires a balance... between the dinar and the dollar any shortage of one or the other creates demand and effects the stability. Therefore reduction of the money supply cannot occur at this time. Once they float the currency and begin international commerce Iraq no longer will need the auctions and can reduce the money supply gradually as the currency appreciates.
8-29-2019 Newshound Guru MyLadies ...I WANT TO TALK ABOUT HOW A CURRENCY REDENOMINATES....HERE FROM THE IMF..."On occasion, a country must introduce a new currency. Turkmenistan..decided in 2008 to undertake a currency reform. A major gap between the official exchange rate and the informal or market rate meant that Turkmenistan’s price system had become complex and inefficient." [NOTE: Other gurus say the Iraqi Dinar "gap" is less than 2% and within the IMF's guidelines] "...Hyperinflation and exchange rate collapse slash the value of a national currency, forcing the issuance of banknotes in ever higher denominations." [NOTE: Other gurus say Iraq's inflation has been under control for 10 years and there is no hyperinflation ] ..."In itself, a redenomination makes no one richer or poorer..." ...I JUST WANT YOU TO UNDERSTAND THAT THERE WAS NO MONEY TO MADE WHEN TURKMENISTAN REDENOMINATED.
8-29-2019 Newshound Guru MyLadies ...Article: "Parliamentary Finance Committee intends to raise the price of the dinar against the dollar and give it strength among other currencies" ...IT SAYS THAT THEY ARE GOING TO DELETE ZEROS (CUT, REMOVE, LOP) FROM THE CURRENCY. THEN THEY ARE GOING TO INTRODUCE NEW CURRENCY EITHER COINS OR PAPER AND THEY ARE GOING TO RAISE THE VALUE AGAINST THE DOLLAR. BASICALLY, THEY ARE GOING TO DO EXACTLY WHAT TURKMENASTAN DID... PREPARE YOURSELVES FOR IRAQ TO DO THE EXACT SAME THING AS EVERY OTHER COUNTRY THAT DROPPED ZERO’S. THINGS ARE NOT GOING TO GO WELL FOR THE MASSES...
8-29-2019 Intel Guru MarkZ All my Iraqi contacts are still expecting the new rate this week. They want to have it out by the first…Many articles about the new coins coming out…why would you need a coin worth a fraction of a penny? ...they have to have a new rate if they release the coins… My people are at work in redemption centers today...Tomorrow we will find out if they are on call again this weekend or if they are scheduled to work. My gut feeling is we will see it on Saturday...just my opinion...last day of the month and Sunday is iraqs first day of the week and the first day of the new month.
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