8-15-2013 Jester [any Lew announcements forthcoming?] WE ARE AWARE HE WILL BE MAKING SOME... BUT WE ARE ALSO AWARE THERE WILL BE SOME BIGGER ONES... STAY TUNED... IT IS GOING TO BE GREAT. [do you think it is a coincidence that Sterling will be closed tomorrow at 6PM and open again Friday at 9AM?] THEY HAVE DONE THAT BEFORE...THEY DO IT EVERY SO OFTEN TO UPDATE THEIR SYSTEM I BELIEVE.
8-15-2013 Mnt Goat I will say this for a fact. Dr Shabibi has come out and said that the dinar will revalue to meet all chapter 7 requirements. Also the CBI itself said in a news conference that the dinar value will surprise everyone when it does comes out. So how can .86 or even $1.13 surprise anyone? First let me say that there is lots of controversy over when this will happen. I am hearing such things like early 2014, which is complete nonesense. Next I am hearing early September 2013. This may be more realistic but I have to tell you I personally know there is a far out date set for that period but it is not something they want to occur. They need and want to complete this ASAP. They are awaiting now for allignment of certain items and they will pop this out to us. I am hearing this could happen this week if all goes well.
8-15-2013 Adam Montana [is the HCL the last milestone they have to reach before and RV?] I do believe the HCL will be the final catalyst.
8-15-2013 Eagle1 heard that the IMF/CIX is looking to release the rate to the ForEx in the next 24 – 72 hours...IMF sources have also said there is already a prepared statement (video) done by Christine Legard speaking about the global currency reset, and that we will see the rates come out immediately following the release of her statement; per the sources, the release of her statement could happen anytime between now and Saturday.
8-15-2013 EXOGEN 12:56 pm est today "just received a call from contact in dc saying all was completed at 2:20. Verifying now. I hope they are RIGHT...UPDATE you all SHORTLY... at 5:29 pm per conversation everything is finished & we wait for the release of the rate by the ptb. There is no more INTEL!!!
8-15-2013 Bondlady Article: "Parliamentarians: the law of the Federation Council of important laws are you waiting for political differences" the the law of federal council is basically this, we all know and see how they fight and argue over every little thing...and they won't pass whats needed unless you give them what they want hence all the major laws we've been waiting forever to see like HCL, art 140, amnesty, tariffs, banking all of it, when they try to pass that and then when they get stalled and can't resolve it then it will go to the feds to rule on and then its final! So this is a huge thing and much needed...It will help many things get passed or not passed or be amended into laws... it strips them of their power to hold these laws hostage. its being read to be passed and it's awesome.
8-15-2013 Frank26 [via BulldogFord65] the IQD needs to be competitive with the Kuwaiti dinar; what do Iraq and Kuwait have in common? Remember that Kuwait has given agreement to lifting of CH7, but as long as the IQD value does not exceed the Kuwaiti dinar; right now Iraq and Kuwait share an airline, land, and oil fields, then why would they not share the same rate of their currency (1 KWD = $3.50).
8-15-2013 Kaperoni Article: "Parliamentary Finance reveal postpone the deletion of zeros until after parliamentary elections" You can only put off the currency and banking reforms so long. The laws are now getting close to be passed (this or the next session) it appears that set the laws for the free market economy. The currency and banking system play a key roll in that they become the conduit from Iraq to the world. This must occur for it to succeed. IMO, the CBI will accept Article VIII once the laws are passed in fairly short order.
8-15-2013 Jester I THINK THE INDICATORS ARE ALL IN PLACE...A COUPLE ANNOUNCEMENTS AND SOME KEY PEOPLE IN THE BANK AND WE ARE ON OUR WAY...[did your forex guy really think only two more days?] AM HEARING THAT PART WILL BE READY TO GO MONDAY...I HAVE ALWAYS LIKE THE "RESET SATURDAY NIGHT AND ON MONDAY HAVE A NICE DAY" SCENARIO THAT CAME OUT ON BLOOMBERG LAST YEAR... JUST MAKES MORE SENSE TO ME.THE BANK SCREENS HAVE NOT CHANGED IN WEEKS... IT IS IN THE EXPECTED RANGE [please mention the "expected range" in numbers?] CLOSE TO KUWAITS... AS IT IS SUPPOSED TO BE.
8-15-2013 Frank26 & Eagle1 [via BulldogFord65] there is a rumor of having only 30 days to exchange: this is totally and completely FALSE, there is NO TRUTH to this rumor... it’s not even possible, the only way this rumor could happen, is for totally new currency to be printed and a regime change; Iraq’s new currency is the currency printed by DeLaRue; think of our own currency, even though some denominations are no longer in print, those denoms are still legal tender for their face value.
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8-16-2013 ****** HAVE SOURCES TELLING ME THAT WE MAY SEE THIS LATER TONIGHT IN THE WEEEE HOURS IN THE AM [FRIDAY]. I TALKED TO FRANK AT DINAR BANKER [STERLING] THIS AM, THEY TOOK OFF TONIGHT TO HAVE A BIRTHDAY PARTY FOR TYE. NOTHING TO DO WITH THIS RUMORED RV.
8-16-2013 Kaperoni The Kuwait dinar never revalued...I think it was some kind of re-reinstatement. Many middle eastern countries have weak dinar. Saudi is .26 cents and is next to Iraq and Kuwait that is at 3.46 or so. UAE is also weak at 28 cents. So the argument that Iraq cannot have a weak currency is nonsense. I do agree that the Iraqi dinar will have a high value, it just is going to take time. Now, to the main event...the float...the AMF (Arab Monetary Fund) and the CBI (Central Bank of Iraq) have stated they plan to implement a "floating orbit of exchange" which is a free float. Now this is where it gets good...the fact is the IMF has encouraged all emerging market economies since 1973 to float their currencies...its a fact! ...the IMF no longer sets what is known as "par" values for currencies. They prefer to let the market dictate the rate..and that is going to be the fun part of the dinar investment once it starts to rise. So now we come down to the actual IMF docs with Iraq. Specifically the Article IV consultations. They clearly state they support the CBI's target to "liberalize the foreign exchange" which is a precursor to a float. The only question left is the actual transition from the current pegged regime to the new float regime. This is know as a "exit" and can be either normal or disorderly. It really does not matter to us, but may effect the timing. I do expect once the dinar hits the foreign exchange market it will rise fairly quickly...
8-16-2013 Bear5642 there has been some new intel come to me from a born and raised Iraqi married to an American woman here in the US. He told his family yesterday that come the first week of September they will all be very wealthy and prosperous people because of the revalue of the IQD. they responded that people are saying this week, he said no it will not happen till the first week of september and they needed to maKE PREPARATIONS TO RECEIVE THE WEALTH.
8-16-2013 Delta, Franks26 & Eagle1 [Date & Rate Opinion] Summary: Delta - Date: September* Rate: in Iraq $0.86 - $1.16 Rate for Int'l Investors: $0.86 - $1.16** VND: No Opinion...Frank26 - Date: Any time Rate in Iraq: Will look like 1:1 Rate for Int'l Investors: $1 - $4.25 VND: $0.01 - $0.03...Eagle1 - Date: Any Time Rate in Iraq: Will look like 1:1 Rate for Int'l Investors: $3.42 VND: $0.47 *Delta’s personal opinion is that the rate can come out at any time **Delta’s personal opinion is that the rate will be in the $3 + range, but Delta told the information that the MoF aide gave to him; Delta would not alter or mis-inform what he was told by the MoF aide, he reported honestly what he was told, although his personal opinion does not match the intel the aide gave to him.
8-16-2013 Adam Montana [what is holding the VND from resetting if it has nothing to do with the Dinar?] I think the VND has less of an "explosive" potential than the Iraqi Dinar, so I don't pay much attention to it - I do have some, but I don't think it's tied that close to the Dinar.