Welcome to the Dinar Observer – Daily. For regular Dinar Updates, to see what the Dinar Gurus have to say, Dinar to USD listings, IQD and for Iraqi Dinar info – THAT MATTERS!! This is a good place to start for your Daily Dinar Recap – whether you are a Dinar vet or just looking for a little current Dinar info – Welcome.
Word for the day…
Mrs. BGG
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| CURRENCY | CODE | SELL | BUY |
| US dollar | USD | 1182.000 | 1180.000 |
| Euro | EUR | 1328.213 | 1327.549 |
| British pound | GBP | 1581.634 | 1580.843 |
| Canadian dollar | CAD | 916.634 | 916.176 |
| Swiss franc | CHF | 1220.570 | 1219.960 |
| Swedish krona | SEK | 139.657 | 139.587 |
| Norwegian krone | NOK | 144.460 | 144.388 |
| Danish krone | DKK | 178.426 | 178.337 |
| Japanese yen | JPY | 11.651 | 11.645 |
| Special Drawing Rights |
SDR | 1658.819 | 1657.989 |
http://www.cbi.iq/
Indicative rates – 09.17.2016
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For every complex problem there is an answer that is clear, simple, and wrong. – H. L. Mencken
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*** Current News ***
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BGG (Dinar Guru) – Article quote: “…the willingness of credit with the international Monetary Fund by which it agreed to grant Iraq a financial loan of $ 5.3 billion agreement…” …their whole budget relies entirely on oil – everything you see in their budget is their whole oil production… their everything rises and falls on oil production and oil prices. …this loan is just a vehicle to get the IMF and “world support” on board… two things they really need...1) IMF oversight and a demonstrated ability to do as they are told… 2) international acceptance… re-integration with the world economies. #2 won’t fully happen without #1…AND international acceptance in every way. This includes an internationally priced and accepted currency… [post 1 of 2….stay tuned]
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Mnt Goat (Dinar Guru) – So the good news, if any, is that we now know 3 things are now FACTUAL and see these FACTS in writing from the CBI:
· Iraq does need the IMF’s permission to RV
· Iraq CBI needs to increase their reserve of hard currency now sitting in the CBI. It now is almost cut in half from what it was in 2012.
· the legislative track and other issues also have an impact on the exchange rate (so it appears Iraq does need some mandated laws…) [post 3 of 3]
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Mnt Goat (Dinar Guru) – There is an effort now under way to recover nearly 60 billion that has been stolen from the CBI reserves and from the treasury on falsified contracts and other corruptive measures. The CBi reserves could literally climb over night to 2012 levels very quickly and as it could be months and not years and this would bring us to early 2017…we know they will not issue this 100,000 note until after the RV occurs and it is never going to be used on the streets of Iraq as it is intended for inter-banking transactions only. This we know as factual. So it could be many months or even years before we see this note. But I don’t think longer than months since common sense tells us they were in a budget crunch and so why spend so much money and tie up so much money getting this new note designed and printed now if they did not intend to launch it soon. [post 2 of 3….stay tuned]
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Mnt Goat (Dinar Guru) – Remember back to 2012 when the then head of the CBI Dr Shababi was going to RV the currency. We know this is FACTUAL since he told us in an article last year that Iraq missed an opportunity since the IMF gave them permission to RV at that time. He also said that he has the reserves at over 80 billion. So we must go by what we now know. We now know the CBI reserves is somewhere around $52 billion since Maliki and his goons raided the coffers along with the currency auctions to sustain the economy since Maliki left only 500 million in the treasury when he parted from office and Abadi took over. [post 1 of 3….stay tuned]
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BGG (Dinar Guru) – Article: “Saleh: Iraq has implemented all the conditions of the International Monetary Fund!” Interesting to hear this kind of bluster from Saleh…We haven’t seen the absolute proof – but sounds like they are headed the right direction.
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Frank26 (Dinar Guru) – [Have Iraq banks completed request by the CBI to electronically comply by September…?] …yes IMO…yes the banks of Iraq are set to make loans to citizens…to give out credit cards…to open up accounts…to help investors that are going to be coming in…electronically they are advanced…yes they are ready…but it is useless…it is all useless until they raise the value of their currency.
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Kaperoni (Dinar Guru) – Their is no revalue, only a gradual appreciation over time. This event is not specifically about the dinar, its about creating a sound stable banking system and as a result an investment climate for global investors to rebuilt Iraq. Getting Iraq’s banking system into Article VIII is the key…here is a quote direct from the IMF…”Such a move towards acceptance of the obligations under Article VIII of the IMF’s Articles of Agreement will send a positive signal to the investor community that Iraq is committed to maintain an exchange system that is free of restrictions and MCPs for current international transactions and thus facilitate creation of a favorable business climate.“
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Frank26 (Dinar Guru) – I feel good about what they have done last week in that meeting [IMF?] and…they are going to have continued negotiations going into November…September, October and part of November…and I hope that maybe when they come back from this holiday…they come back around the 18th I believe…I think they are going to come back with a lot of news…a lot more information…more transparency…what did we say…once they give you Fallujah…transparency of the Economic Reforms…you see it…what did we tell you the moment they give you Mosul…the transparency of the Monetary Reform…and when they come back we are going to have a plethora of information about the Monetary Reform…more talk from the CBI….more talk from Dr. Shabibi…IMO…
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Frank26 (Dinar Guru) – [are they on track for the fiscal RI…?] Yeah… and I think when they come back we are going to learn more about that…not so much about the budget but more about the Monetary Reform which would lead them into the fiscal part…into the RI for us…the Monetary Reform…once they lift the value of their currency…their currency is ours to take for a ride up an escalator in value…a dinar will always be a dinar in the country…but outside the country whatever currency it is exchanged for…well that can be a different story.
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Enorrste (Dinar Guru) – …the IQD will be destroyed as they come in over time. It will take some time to reduce the money supply from 40 trillion dinars to 40 billion dinars. As this is done the value will increase. It must be done incrementally to avoid a liquidity crisis. With respect to the 50K notes they did NOT increase the money supply. They were issued in exchange for 25000 notes so it was an even exchange. The 25000 notes are either being held at the CBI (thus not part of the money supply, just as any new money held there is not part of the money supply until it is issued) or it has been destroyed. The slight rise in the money supply is caused by the CBI in order to maintain liquidity and has nothing directly to do with the 50K notes. …the 50K notes have done their job: hence, no need for the 100K notes. That job was to initiate the removal of the 25K notes from people’s mattresses. It will be excelerated by the offer of the dinar at 1200 per dollar through these major banks.
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Frank26 (Dinar Guru) – [Do you think Frank that Iraq is going to meet the window that the IMF is giving them in the Arabic side of the CBI I believe November…?] Well again I don’t know…that is what we are hoping for…but we will learn more about that status when they come back around the 18th…you think they are on vacation…you think they are celebrating Eid…no…no…they are working like dogs…because they cannot afford to bite the hand that feeds them any longer.
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Kaperoni (Dinar Guru) – Article: “Parliamentary Finance calls to control the rate of the dinar against the dollar” I will say it again…Balassa-Samuelson effect. Once they accept Article VIII (they have to stabilize the exchange rate, spread and meet other conditions first), they then will float the dinar to counter inflationary pressure created by the influx of investment and investors. This will cause the dinar to appreciate in value. It will not happen overnight, but it will happen gradually. With the introduction of the 50, 100, 200 planned for early 2017, we can hope that the dinar will be worth .10 cents by then.
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Central Bank: No category million dollars and we deal
Long-Presse / Baghdad – It said an informed source at the Central Bank of Iraq, on Wednesday, that there is no currency of one million dollars a category, and among that this currency is real and may be used to waddle or games, he stressed that a higher currency Bank deals with are a class of ($ 100).
The source said in an interview (Amdy Press), said that “the trading day in the Iraqi market and among the citizens of the existence of a class coin (one million dollars), is not true and there is no such a category,” he said, “that category may be for the purposes of Strutting ( gift), or used for the Games. ”
The source, who not to be named, said, “The Central Bank does not deal with that group, and that the highest category in the dollar coin is ($ 100), so the Central Bank does not deal with that category one million dollars because that does not exist.”
And circulation of citizens and the Iraqi market news for the currency of the category million people exchanged presence as part of a new currency will be worked out in the country.
Article Link
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Enorrste (Dinar Guru) – I might add one more point: by using this strategy the need for the issuance of the 100,000 dinar note is eliminated. Originally this note was going to be introduced so that the 25000 dinar notes hidden in mattresses could be drawn out. However, that is only a false ameliorative, since those 4 25000 dinar notes would still be replaced with another dinar note (although larger). However, through this new strategy of exchanging dinar at 1200 per dollar the large 25000 dinar notes can be drawn out of the mattresses WITHOUT replacing them with other dinar notes, thus allowing a direct reduction in the money supply. [post 3 of 3]
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Enorrste (Dinar Guru) – As the dinars in mattresses are removed and sent to the CBI through these major banks they can be destroyed, thus allowing the CBI to reduce the money supply. Remember, they have to reduce it gradually as the value of the dinar rises. The reduction is enormous, from 40 trillion dinar to 40 billion dinar. This is a part of the mechanism that will make this possible. If the dinar in mattresses do not come out then the float cannot begin or, if it does begin, there will not be enough upward pressure to raise its value UNTIL the mattress money is removed. Thus this move by these two major banks (initiated by the IMF) will help to kick-start that removal process. [post 2 of 3….stay tuned]
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Enorrste (Dinar Guru) – Article: “The central bank determines the sale of $ 5000 for citzens across the bank Rafidain and Rasheed” If these two major banks are now selling the dinar at 1200 per dollar what do you think will happen in the short term, especially since the street rate is 1290 per dollar? The answer is two-fold: first, this will put downward pressure on the street rate…to bring it in line with the official rate, or at least within 2% of that rate (a requirement of the IMF for entry into Article VIII); but secondly, and this has not yet been mentioned, the lower 1200 per dollar rate will quickly draw in large amounts of dinar from the mattresses of those who were frustrated because the street rate was so low compared to the official rate. This is the secondary but extremely important factor that will be necessary in order to move to a float. [post 1 of 3….stay tuned]
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Iraq:
Letter of Intent, Memorandum of Economic and Financial
Policies, and Technical Memorandum of Understanding
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Delta (Dinar Guru) – I have some information about the IMF meeting with Iraq…it looks like we might have a window for the date of the currency reform or basically the revaluation of the dinar…I just read it in Arabic…there seems to be a window that the IMF has given Iraq…they told them you have to finish the Monetary Reform of your currency…the internet is not seeing this in Arabic…it says in Arabic they told them to finish the Monetary Reform…and the Economic Reforms before November…
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Frank26 (Dinar Guru) – …the information that is on the CBI website in Arabic makes it very clear…[Guru] DELTA translated it for us…and it said very clearly…at this meeting the IMF told Iraq…look you’ve done these things…but you have not done two things…if you want your loans…and that is what…articles are backing it up again…if you want your loans so you can complete your Economic Reforms…do the Monetary Reform…if not…IMO we will come in and we will do everything.
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Kaperoni (Dinar Guru) – Article: “Rasheed Bank proceed to sell the dollar for travelers dinars 1200” This should quickly reduce the spread to within 2% as others follow to compete. Again, the CBI is trying to get in compliance. This is great news to meet the IMF directive in the SBA.
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tlm724 (Dinar Guru) – […does the B- rating concern you about our investment?] I think it’s a good rating and that rating is appropriate for Iraq given the current circumstances. Money is the incentive and Iraq will do whatever is needed to keep those funds moving and comply with the SBA. Finch is showing us that they are indeed flexible with this rating and it’s essentially up to Iraq to make the needed improvements… Security is improving with the march on to Mosul. IF they actually reach a firm and implemented agreement with the Kurds with full participation from both sides this will increase their rating also. All in all Iraq is on the right track.
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IRAQ
STAFF-MONITORED PROGRAM—PRESS RELEASE; AND
STAFF REPORT
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Kaperoni (Dinar Guru) – So we can see here that the CBI is doing exactly what the IMF dictated. And they are moving closer to accepting the obligations (don’t know the date) of Article VIII. Which we all know Article VIII is the “key” to make the dinar internationally convertible and as a result would remove the dinar from the peg at that time and allow it to float. IMO, they are moving towards the goals of early 2017 (remember the 3 notes the CBI wants to bring out!) Gotta love the line….”Such a move towards acceptance of the obligations under Article VIII of the IMF’s Articles of Agreement will send a positive signal to the investor community” It really is fantastic news because the IMF is not going to let the CBI and banking system stay closed to the world much longer. The plan is in action. [post 2 of 2]
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Kaperoni (Dinar Guru) – this should get us all excited…From the IMF SBA…: “The authorities will gradually remove remaining exchange restrictions and multiple currency practice (MCP) (MEFP, 14). Such a move towards acceptance of the obligations under Article VIII of the IMF’s Articles of Agreement will send a positive signal to the investor community that Iraq is committed to maintain an exchange system that is free of restrictions and MCPs for current international transactions and thus facilitate creation of a favorable business climate.9 As a first step, the Council of Ministers will approve and introduce to parliament an amendment of the Investment Law, or the CBI will issue clarifying implementing regulations, to remove the limitation on transfer of investment proceeds that gives rise to an exchange restriction (SB, Table 5), as recommended by a recent technical assistance mission of the IMF. As a second step, the CBI will increase the sale of foreign exchange for valid current exchange transactions on the official market in order to reduce the spread between the official and parallel exchange rates (10). In particular, the CBI will, by the end of 2016, make the weekly limits on the purchase of cash at the weekly foreign currency auctions indicative, in the sense that any bank requiring additional cash for legitimate travel expenses for its clients will be able to obtain the required amount above these limits on the basis of appropriate documentation.” [post 1 of 2….stay tuned]
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Adam Montana (Dinar Guru) – [Does the Fitch rating need to get better before Iraq could RV, or would an RV increase Iraq’s Fitch rating?] I did see that Iraq was given a B- or close to that recently? Over the last few years they have maintained a very consistent and very good quality rating, which tells us that they are pulling forward consistently. That’s better than what a lot of other countries have done! Just another reason to hang tight and root them on.
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Shredd (Dinar Guru) – […does the B- rating concern you about our investment? And does the rating have to improve to have the significant increase we’re looking for?] Not at all. Increasing the rating will take significant time and impacts the interest paid on sovereign loans. That said, because of the tremendous support Iraq continues to get, such as the soft loans, this is not having much of an impact.
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IRAQ
FIRST AND SECOND REVIEWS OF THE STAFF-MONITORED PROGRAM AND REQUEST FOR A THREE-YEAR STAND-BY ARRANGEMENT—PRESS RELEASE; STAFF REPORT; AND STATEMENT BY THE EXECUTIVE DIRECTOR FOR IRAQ
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Kaperoni (Dinar Guru) – Article: “IMF thank Iraq on “fruitful cooperation and candor,” the first revision of the standby credit agreement” I just love how the IMF works. It is clear, the SBA was the roadmap. And these subsequent meetings in Jordan check progress before the next installment loan. It is very obvious, the CBI was behind on the conditions the SBA “plan” had for the banking system. So they get their orders and return to Iraq and have 30 or so days to get caught up before the next October meetings.
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Adam Montana (Dinar Guru) – [Just to clarify things again. I thought an HCL law passage was or is not a factor into any implementation of an RV.] It’s not “mandatory”, but I place it high in my personal opinion of catalysts for the RV. [In your opinion, do you feel that in this end 1/4 of October Iraq will pull the RV trigger or do you feel it will be in 2017? I’m in the camp of 2017.] I won’t give a date, but I’ve made it clear that I’m positive for progress in the coming weeks/month. [Do you think most of will actually live long enough to see an actual RV?] Yes.
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Mnt Goat (Dinar Guru) – Won’t all the hedge funds and investors scoop up the currency and cause a rush on it? Yes – I am told this may happen and the rate could go very high over a period of time. The float, however, will be a “fixed” float meaning it will have a limit. They are not telling me the limit as it is sensitive information…of course. But we did hear Dr Shabibi say in the past that the IQD could sustain up to a value of $16 USD per dinar. This is all we know as FACTUAL and so I will not spread any rumors, hype or speculation on the future value of the dinar. No Rumors, No Hype, just the FACTS, as always! [post 2 of 2]
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Mnt Goat (Dinar Guru) – …THE ECONOMIC AND FINANCIAL REFORMS ARE ALMOST ALL COMPLETED… I am still on the path of window from Sept 1st 2016 to January 2017 to see a significant rise in the value of the IQD. I firmly expect to see between now and January to see the launching of the lower denominations (but no coins yet). When the CBI does launch the new notes (lower denominations) the IQD value will not change. I repeat will not change and the swap (or exchange) by the citizens within Iraq will be a 1:1 meaning the value will be a swap of 1 dollar value for something worth one dollar value. I am being told by my CBI contact that if all goes according to plan we can expect a 90 cents to $1.17 USD rate change within a couple weeks after the newer notes are launched, but only when it is launched AND finally moved to the international exchanges. At this time the plan now is that the currency will be on a float and will no longer be stickily pegged to the USD (as it is today). Instead they plan to move it to a “basket of currencies”. [post 1 of 2….stay tuned]
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Adam Montana (Dinar Guru) – Not much to report today in Iraqi news or Dinar progress, but I kind of expected that. …I’m leaning on October to be a big month in our news. My primary reason for not expecting much out of this week is their last long holiday of the year, Eid-al-Fitr…Eid-al-Fitr goes till Friday this week, and then we don’t have any more long holidays in the immediate future… which hopefully means they will be getting some WORK done.
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Backdoc (Dinar Guru) – […we have friends who have only VND. IYO, do you see them RVing any time soon or maybe next year?] THEY ALL START THE RACE TOGETHER IMHO! CAN’T HAVE DOUBLE DIPPING BECAUSE IT WOULD DAMAGE THE CURRENCIES THAT GO AT A LATER DATE! IT WOULD INCREASE THEIR NOTE COUNT TOO MUCH. I BELIEVE IT WILL BE AN ASIAN SURPRISE! IMO.
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Islandg1211 (Dinar Guru) – The obvious biggest question is when is the IMF requiring the CBI to RV? Unfortunately, they don’t directly state that. They stated in their December 2015 LOI that they wanted Iraq to join the international community “by mid-year.” Their June LOI states that the IMF wants the CBI to cut out their Multiple Currency Practices and move to Article VIII compliance – which requires the RV – “by the end of the year.” The IMF is on top of exactly what Iraq is and is not getting done on time. That comes out through these articles on Friday’s meeting. [post 3 of 3]
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“Dinar Q & A Call!!”
from Thurs – “After Call – LIVE”
w/RCookie, Mr White & Hutch
Smart phone user link – Click here
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Breitling (Dinar Guru) –…There’s an article taking about de-pegging from the US dollar. Ok just pure math. We know the US dollar dominate about 70% of the world’s international trade. Just based on that math…do you think that it would be a good idea for Iraq to de-peg itself from the most powerful currency that’s ever existed on the face of the earth? Do you think that is a wise decision? Do you think the US treasury and US government setting up their currency…we’re the ones who got rid of their old currency and we’re the ones to help setup their new currency…do you think there is any room for that type of shenanigans? No there is not. I appreciate articles that come out but some of them are so obnoxious that they should be indicators all by themselves that the person who wrote that is completely off the wall. They are not going to de-peg from the US dollar. This is not opinion at all…the US dollar is getting stronger and stronger and stronger.
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Kaperoni (Dinar Guru) – Article: “The central bank determines the sale of $ 5000 for citzens across the bank Rafidain and Rasheed” Quote: “…the central bank boosted bank balance Rafidain and Rasheed dollar in order to direct the sale of hard currency from the dollar to citizens traveling outside of Iraq.” I like how the CBI has these meetings with the IMF and when they come home, they usually do something right away. Clearly the IMF told them last weekend, raise the minimum at the banks.
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Kaperoni (Dinar Guru) – Article: “The central bank determines the sale of $ 5000 for citzens across the bank Rafidain and Rasheed” Quote: “The Iraqi Central Bank announced on Tuesday (September 6), the processing bank Rafidain and Rasheed exchange of foreign currency to the dollar expansion of cash sales outlets to citizens via their branches in the capital Baghdad and the provinces.” More good news. They are following the IMF concerns and liberalizing the foreign exchange.
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Central bank: there is no process of converting $ 6 billion out of Iraq
BAGHDAD / obelisk: The Central Bank announced the absence of any transfer of $ 6 billion and $ 455 million operation to calculate Hamad al-Moussawi outside Iraq.
According to the central bank sent the book to the Committee on Parliamentary Integrity, on 4 September 2016 to the absence of any transfer of $ 6 billion and $ 455 million outside Iraq to account Hamad al-Moussawi.
He held the book signing bank governor agency.
The leaked documents, indicated that al-Moussawi, fled the above amount to outside Iraq, and the issue was raised again by the Finance Minister Hoshyar Zebari said after the questioning session…
Read More: http://www.dinarupdates.com/blog/
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Backdoc (Dinar Guru) – LOTS OF INFO BUT MOST OF MY STUDIES ARE TOO SENSITIVE TO TALK ABOUT. WE ALL KNOW HOW IRAQ REDUCED ITS NOTE COUNT BY DOING THE CURRENCY AUCTIONS BY SELLING DOLLARS AND PULLING IN DINAR. THEY METHODICALLY DESTROYED THE PAPER THUS REDUCING THE NOTE COUNT! I LOVED SEEING THAT ARTICLE ON THE 7TH THAT STATED IRAQ HAD ENDED ITS INTERNATIONAL FINANCIAL MESSAGING SERVICE! YES A COMPLETION ON THE 7TH! OF COURSE THEY WERE BEING SNEAKY ON HOW THEY STATED IT BUT WE ALL KNOW THAT WAS THE SWIFT CODE RIGHT? RIGHT! THEY ARE NOW E-DINAR AS THEY SAID THEY WOULD BE! SO OBVIOUSLY THEY ARE NOW ON THE THE CIPS WHICH IS THE NEW DIGITAL PLATFORM WHICH CAN RUN BOTH! [post 1 of 2….stay tuned]
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Mailman17 (Dinar Guru) – THEIR MAIN CONCERN IS WHATS INSIDE IRAQ, NOT OUTSIDE. WHAT WE HOLD IS NOTHING IN THE GRAND SCHEME OF THINGS AS THAT ALSO WILL FIND ITS WAY INTO OUR TREASURY AS OTHER COUNTRIES AS WELL. SHABS [DR. SHABIBIS] PLAN FROM DAY ONE WAS AND ALWAYS WILL BE ON PAR 1-1 AS HE HAS STATED MANY TIMES. A 1-1 WITH IRAQ BACKING ONLY A SMALL % OF PHYSICAL DINAR IS VERY PLAUSIBLE, ESPECIALLY IN REGARDS TO OTHER ASSETS THEY HOLD OTHER THAN GOLD. REMEMBER PHOSPHORUS? I DO THINK MOSUL IS A LOT FURTHER ALONG THAN REPORTS SHOW. IT IS THE LAST DOMINO IMO AND WE JUST WAIT FOR THE ANNOUNCEMENT. THEN I BELIEVE REFORMS WILL TAKE OFF ASAP. AND I HATE TO BRING UP HISTORY, BUT IRAQS FINANCIALS AS REPORTED ARE QUESTIONABLE AT BEST AS THEY HAVE BEEN FOUND WITH 2 SETS OF BOOKS IN THE PAST. SOMETIMES WHAT YOU SEE ISNT ALWAYS WHAT IT IS. IRAQ IS READY…ARE YOU? I KNOW I AM…AS ALWAYS JMHO. [post 2 of 2]
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Mailman17 (Dinar Guru) – I DO AGREE WITH [GURU] BREITLING AS FAR AS IRAQ GETTING THE NOTE COUNT DOWN, BUT, AS MUCH AS THE NOTE COUNT MATTERS, ITS WHAT REPRESENTS THE M2 THAT REALLY MATTERS IMO…THEIR M FACTOR REPRESENTS NOT ONLY PHYSICAL DINAR BUT DINAR ON THE BOOKS AS NUMBERS AND NOT ACTUAL PHYSICAL CURRENCY. WE ALSO HAVE TO REMEMBER JUST HOW MUCH ACTUAL DINAR IS BEING HELD AS BACKUP CURRENCY BY OTHER NATIONS, ESPECIALLY THE PARIS CLUB. HISTORY TELLS US THE US ORIGINALLY LENT IRAQ 20 BILLION U.S. IN LIEU OF DINAR. AT THAT TIME THE RATE WAS 4000-1. ADD IN THE OTHER MAJOR COUNTRIES, AND 41 TRILLION ISNT THAT MUCH FOR IRAQ TO HANDLE BECAUSE THE MAJORITY OF THAT IS FOREIGN CURRENCY RESERVE FOR OTHER COUNTRIES. [reference Guru Breitling post 9-13-2016] [post 1 of 2….stay tuned]
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Allawi: Keywords ineligible for the management of the Central Bank of Iraq
Treasures Media / Baghdad confirmed by former Secretary of Communications Mohammed Tawfiq Allawi , said Governor of the Central Bank of Iraq on the Keywords, does not know how the bank manages under these tough economic conditions, noting that “Iraq is moving toward a serious economic cliff…
Read More: http://www.dinarupdates.com/blog/
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Breitling (Dinar Guru) –…articles coming out with banks having problems giving people Iraqi dinar. Remember this is a two pronged attack. They are trying to reduce the dollar amount because the only way they can reduce the note count and add value to the currency…is to make sure people aren’t addicted to the US dollar…so there is a balance there. We don’t have enough information to calculate. At what point are they pulling dollars off? and at what point are they reducing the note count. And at what point are they more heavy than the other? We don’t know. BUT we know what to look for and we know the key words they’re saying and what it means for us…Between 80 and 85% of notes in Iraq are 25K notes and they say they have about 41 Trillion in dinar…divide that up into 25K notes. and you’ll figure out about what the note count is at.
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BGG (Dinar Guru) – [any late news on the progress of the dinar?] I am sure the next few days will be very revealing – and…or I should say…the biggest news would have been the full context of the results of the IMF – Iraq meetings/review in Amman, Jordan…as that news comes out – it will be interesting and…we’ve got a few developments coming soon – GOOD STUFF.
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Breitling (Dinar Guru) – …No. I’m all about measure and I don’t know how to measure that. It’s very simple…if you see someone and they have a car frame and it’s just sitting there and they have an engine and it’s just sitting there separate and they’ve got wheels and they’re separate…you know they’re building a car especially when you look at the parts…you probably can tell what type of car they’re building. Is it going to be a race car? Well if they’re using race tires and an engine that’s bigger than what everyone else’s then it’s pretty much going to be a race car right? So that’s what we’re looking at. That’s the only thing I can go by. To me it sounds goofy when I have to use that type of example…a lot of people got into the dinar because of intuition but I don’t calculate by intuition. I don’t believe in it. I don’t believe in hope. I don’t believe in any of that stuff. If I can’t see it. I can’t measure it. I can’t invest in it. So you know this is an indicator but it’s nothing that’s measurable so you have to be very cautious when looking at it. So very very good articles coming out. [post 2 of 2]
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