8-12-2017 Intel Guru RayRen98 The update information I sent out is still the prevailing information. The video clip brought a lot of discussion of PM Abadi having a press conference and a cavalier type statement, to my way of thinking, that Iraq had exited Chapter 7. Some will debate that’s not new news and some say they are still in Chapter 7. That puts the debate to an end. He’s made the proclamation. Also, info still inconclusive on the IMF. Cannot give it 100% yet…That is IMF making reference to Iraq being Article 8 compliant. That’s not the same as proclaiming them Article 8, making it in effect. Could make for discussion, “are they or are they not.”
8-12-2017 Intel Guru RayRen98 Also, information out that Kuwait received their last payment. BIG – to satisfy the IMF requirements along with removing multiple currencies in the country. Also, no auction reports for today. If everything goes according to what I expect don’t be surprised if no auction reports on Monday. That to could be a signal of Article 8 compliance. CURRENT WINDOW: The targeted execution date is August 21 based on what they put out there. We had some sources looking for something to happen this week. At least a phase of it to happen this week. Contractors and others told to have all their bookkeeping in the by the 21st. But anything could possibly happen before then. …heard the lower denom’s are NOT being used yet.
8-12-2017 Intel Guru Frank26 IOO as a TEAM of STUDY…A [Abadi] made his speech on Iraqia TV in front of the citizens of Iraq…We considered it a “STATE OF THE UNION ADDRESS”. Because he covered many issues along with announcing they are out of CH7. ONE specific issue we can not SHARE yet…Nor were You able to hear it…It was not a part of the video. IMO…We are Blessed to be in the position that we are in with this investment.
8-12-2017 Newshound Guru Kaperoni …the CBI intentionally sold dinar outside of Iraq to eventually find it way into the global financial system. Once the dinar is trading, I expect the dinar to rise (Balassa-Samuelson effect) as the IMF stated back in 2012. Many believe it is grossly undervalued, and if so when supply and demand takes over, it should get a substantial correction.
8-12-2017 Newshound Guru Shredd Article: “International Monetary Fund: Iraq faces double economic crisis and risks remain high” When an economy struggles, one tool to combat financial distress is to adjust the country’s currency…just like the US recently lowering the value of the dollar. Iraq has the same opportunity. What complicates this is the use of the dollar…but this is all good and works for our benefit imo.
8-11-2017 Newshound Guru tlm724 Article: “The Iraqi Trade Bank: The global market has begun to trust the future of Iraq’s economy” Quote: “Banks Economy News Baghdad: The Iraqi Bank of Commerce announced on Wednesday that the global market began to trust the future of Iraq’s economy after the issuance of the country’s bonds worth one billion dollars.” I am very excited about this bond issue and maybe they will offer a tranche to satisfy the demand!!! Iraq has been making ALL the right moves since the liberation of Mosul and that is not a coincidence either. Exciting times no doubt!!!
8-11-2017 Newshound Guru Shredd Article: “The Iraqi Trade Bank: The global market has begun to trust the future of Iraq’s economy” Take a look at this part: “…a number of comprehensive offers in London, Boston and New York and received a positive attention by investors from global investment funds, and proceeds of the IPO value of what was on the market more than seven times the amount required.” This is a big deal folks. Investor confidence and then some! This strong investor response will result in more investment, that is guaranteed! The rating holding is good too. As Iraq prepares to respond economically to the lower oil prices, selling their debt like this makes sense and again, the investor appetite is awesome to see!
8-11-2017 Newshound Guru Shredd This should move the needle on the stability front and as security improves, the next move should be to reengage the project to remove the zeros and reflect a more realistic value to the dinar. Investor protections are in place (kyc, balance protection, generous trade windows, etc) and this powerful confidence from investors, combined with asset management from huge international finance banks sets the stage as perfectly as we could have hoped for. Be very encouraged. This is good to see!
8-11-2017 Intel Guru Bruce We know that Iraq was released from Chapter 7. They had an announcement yesterday from the UN releasing them from Chapter 7. The IMF also made an announcement last night essentially saying the same thing that they are released. To be released they would have to have a rate on their new Iraqi Dinar. We do not necessary have it on the CBI site or totally global out there yet. The last thing that needed to happen for Iraq to be released from Chapter 7 was the new rate, and then have a new international tradable currency. Will they transition directly into Chapter 8? We don’t know that for sure. I thought they automatically did that. There is a holiday today or was a holiday today [Thursday] in Iraq. We believe the reason for the holiday was because they were in fact revaluing their currency.
8-11-2017 Intel Guru Bruce Not only they have been released from Chapter 7, but also the fact their ATMs are now operational with lower denoms. Those ATMs in Iraq are finally operational in Iraq and also in Saudi Arabia and in Jordan. When the lower denoms come out we always said this when they do come out that is when we have proof the RV is taking place. In cases where we know people have the new QI cards which are set up for oil and gas proceeds, profits that are shared among the citizens of Iraq, there is now a settled in rate, two digit rate, now on those cards both in and outside of Iraq. We know people with those cards are able to see that rate and we been looking for that rate to drop in and be solid and not flickering. It is a solid two digit rate and some digits behind that which are still flickering, but enough of a rate showing that is a great indicator of things moving forward. Possibly the rate is getting ready to drop in any moment. The timing is really close. …understand you are in a very good place because we are in an excellent situation to be notified very shortly.
8-11-2017 Newshound Guru Aggiedad77 Frank [Guru Frank26] …offered up a few thoughts…let me share…what he said… great news today from our friend (Walkingstick) …a plethora of information…information that he believes IHO that we will see the results of in 2-3 days…Time for the media to catch up…Frank says that so much is happening…no we don’t know the date or rate…but there is sure a lot of activity happening right in front of us…right before our eyes…So that is it in a nutshell for now…the BEST is coming.