DELTA: HELLO FAMILY:
I DID BRING THIS PART FROM 2/27/2015 TO REFRESH YOUR MEMORY, WHEN THE CBI DECIDED TO WITHDRAW THE 50 DINARS NOTE, THEY DID STATE THE REASONS!!!
The Central Bank of Iraq , the day before yesterday , the currency was withdrawn from the category of 50 dinars from circulation due to " low value and stop the public about the circulation ," according to a statement of the bank. A source in the CBI told the " term " that " the bank does not want a conflict between the currency and the category of 50 dinars 500 dinars in case of deletion of zeros from the last
AS WE KNOW THE NEW 500 DINARS IS CONFIRMED WITH KURDISH LANGUAGE , THAT'S WHY I DO BELIEVE IMO WE ARE SO CLOSE TO SEE AN INCREASE IN EXCHANGE RATE. DELTA
MBA Grad: Greetings Delta,
I'm trying to confirm that the 250 Dinar notes have also been modified to have the Kurdish language. I'm pretty sure that you had posted something about the 250 Dinar notes which you had seen on Iraqia Televison.
I also remember Al-Abadi making some kind of an announcement on the 500 Dinar Note but I don't believe he mentioned the 250 Dinar Notes. I could be wrong, but I just wanted to run this by you to confirm that both the 500 and 250 Dinar notes have been reprinted to have the Kurdish language on them. The Banknotenews website only shows the new 500 Dinar note but not the 250 Dinar Note.
I'm thinking that once the rate is reinstated, that both the new 250 and 500 Dinar notes will be made available to the citizens in exchange for the 5k, 10k and 25k notes that the citizens are hoarding. This will help de-dollarize Iraq and to help remove the "000" notes from circulation until the actual "RV" can be performed.
Many thanks for your help !
DELTA: NO NEW 250 YET....... ONLY 500 .
W8tn4it2rv: QUESTION FOR FRANK
WE KNOW YOUR TIMEFRAME OF FOCUS IS OCTOBER.
ARE YOU STILL OF THE OPINION THE RATE WILL CHANGE TWICE? IF SO, ARE YOU ANTICIPATING THE 1ST OR 2ND CHANGE AROUND OCTOBER. THANKS
MBAGrad: I'll give you my opinion, for what it's worth, based on what I've read and studied up to now.
I'm of the opinion that once Iraq launches the Private Sector, that we'll see the introductory rate (Reinstated Rate) in order to get the Iraqi economy moving under the international framework. Prior to this, we need to see a few things happen.
1) The United Nations must remove the currency restrictions (Final part of Chapter 7) so that Iraq may move from Article 14 into Article 8 and now assume international status. This will allow the new 500 Dinar Notes, and perhaps the new 250 Dinar Notes which I have not yet confirmed, to be released to the citizens so that they may start turning in the "000" notes that they have squirreled away at home. I'm looking for an initial rate of anywhere from .86 cents to $1.18 as the first rate that we might see.
Once again, this is my opinion.
The rate used is what was agreed upon between the CBI and the GOI. I'm going on the assumption that if Iraq wants to de-dollarize, then the rate for the Dinar must be attractive enough to make the transition an easy one for the citizens and for potential investors.
Even if the rate came out at .10 cents, many people would jump all over it in order to take care of their immediate financial needs.
So, to me, the initial rate really isn't that much of a concern so long as they start up this engine. They can let it idle for as long as they like after that until they're confident that their economy can sustain a higher value. This, in my opinion, would be the "RV". At this time, all of the new lower denoms will be introduced to the nation
2) I believe that Prime Minister Abadi also wants to have the Mosul issue wrapped up most likely to finish up the issue of Article-140 for the Kurds. This is important to them and to those who are calling the shots here in the USA.
3) The Amnesty Law is required for the "RV" but not for the "Reinstated Rate".
4) I also believe that the IMF had asked for Iraq to amend their 2016 budget as well as the Investment Law. I'm not sure if this is required for the "Reinstated Rate" but will most certainly be required prior to the actual "RV" of the currency.
I'm not too concerned about the Political issues that Iraq is experiencing. Many nations go through this and it will work itself out. The CBI is responsible for fiscal policy. The GOI will always have people throwing shoes at each other. It is what it is. I don't see this as a factor as long as the "3" Presidencies are "In Tact".
The "RV" is the "Final Adjustment" - The "End Game" for the Iraqi Dinar Currency. We need Iraq to open its economy up to the Globe and that requires a currency that has "Value" and 1186 isn't doing to accomplish anything in the real world.
They need to move away from the program rate and that will happen with the help of the United Nations as Frank has stated.
Based on what the 3 Musketeers have shown us, things seem to be coming to life in Iraq sometime around September 2nd. I would expect to see the "Reinstated Rate" before this time.
My own research tells me anytime after August 15th and I say this because I believe that this is when we are going to hear that Mosul is liberated. Somewhere in this time window.
I'm not Kim Clement, but logic tells me that Iraq needs to have a useable rate before it opens up to the international world.
I'm not giving any dates or rates ..... This is simply my opinion based on what I see happening. Frank has his own window of time and I have mine.
I'm curious to see what Parliament does next week in regards to the Federal Court Law and the Amnesty Law. Prime Minister Abadi must also replace the 7 ministers that have recently resigned and we should hear something on that next week as well.
That part of the world is unpredictable. What looks good one day can go straight to hell on the next day. I'm hoping that money takes priority over ego when it comes to launching those reforms.
Once again, this entire commentary is strictly In My Opinion ......... As Frank would say, "Take it to God in Prayer"
Keep the Faith .... We're almost home !
Aggiedad77: I will just say....you take very good notes at Frank's CC's.....well summarized.
QuietStorm: not a lot going on around here. LOL. Since we lost the 3 Muskateers, who are muzzled, (Backdoc, Mountainman and Thunderhawk)
LabLover: They are muzzled for yours and my benefits as their information was getting sensitive and could hinder progress and you wouldn't want that would you ? I sure don't.
Frank26: Nor I nor TINK ............. For us all. A change of many things is coming
BACKDOC: GOOD MORNING FAMILY!
YES, QUIET WE ARE WITH A PURPOSE FOR A PURPOSE!
WISH I COULD TEACH MORE ON THE COMING DAYS BUT YOU ARE IN EXCELLENT SHAPE WITH YOUR INVESTMENT.
THERE WILL COME A TIME IN THE NEAR FUTURE WE CAN BEGIN TO SHARE AGAIN!
UNTIL THEN THINK, PRAY, AND PLAN
THIS IS OUR OWN TPP! HEE HEE TPP= THINK PRAY PLAN
STUDY TO SHOW YOURSELF APPROVED! SOON WE SHALL SOAR LIKE EAGLES! DOC