12-17-2017 Newshound Guru mike […what laws are we still looking to get passed to get to get this economy going…] …here’s what I’m looking for. The first big deal is the acceptance of Article VIII. The political will to end the auctions and allow the dinar to float requires a ton of legislation, or the removal of restrictive legislation. …The government controls almost everything. 95% of the countries revenue is derived from oil, controlled by the government. Iraq’s leadership won’t pass the laws necessary to empower the people to create an open market economy. Passing the HCL will help eliminate the massive corruption surrounding the oil money. …the key is to empower the banks, protect Iraqi deposits, have the currency internationally recognized and remove the red tape and investment obstacles so that western money does come into Iraq. Capitalism is a powerful tool, if there’s money to be made and it’s safe to do it, Iraq will have all the investment they can handle…
12-17-2017 Intel Guru Jester WE GET GOOD INFO THAT THINGS ARE HAPPENING… PROCESS MOVING FORWARD… JUST NO DATE IS FORTHCOMING… AND NO IDEA WHAT STAGE THEY ARE IN…THE IRRITATING THING IS THE BEST I CAN GET IS BACKROOM BANK MEETINGS …WHICH IS OBVIOUS… CENTRAL BANKS ARE THE KEY..
12-16-2017 Newshound Guru Kaperoni Article: “The document: a political entity address the Prime Minister officially .. and demanding the dismissal of the Governor of the Central Bank” The one key thing with Alaq as he seems to have united his plans with the GOI. Something that never would have occurred with Shabibi. And I would think if those plans were not in the best interest of Iraq the IMF would have said something as they are present at the meeting, conferences and consultations.
12-16-2017 Intel Guru RayRen98 [It has been reported by the Government of Iraq that a new minimum wage of 350K dinar per month will go into effect 1/1/2018. What are your thoughts on this as it pertains to the RV?] Don’t be surprised if another report comes out before then that they adjusted the minimum wage because the currency has a new value.
12-16-2017 Newshound Guru Enorrste Article: “Iraq replaces the confidence of the world economically” It appears that Abadi is more positive about the banking situation in Iraq than he should be. We have seen over the years that the banking system in Iraq was woefully deficient. There have certainly been improvements made, but one factor that has not yet occurred is the movement of dinars from mattresses to banks. Unless and until that occurs I fear that the economy will not take off and, more importantly, the CBI won’t be able to reduce the money supply allowing the value to rise. Foreign investment will help but I doublt that it will be as aggressive initially as Abadi would like to believe. This is like trying to move an ocean liner. It starts out slowly and, as KAP [Guru Kaperoni] has noted, gains momentum. But this is not a 100 yard dash. It will take time, months at least, to see any significant change in the investment climate. That’s my 2 cents worth. I wish I were wrong, but I’ve been in this over 11 years and I can’t help but believe that Abadi’s hype is overstated.
12-16-2017 Intel Guru RayRen98 …looking for possibly some…TELLING information over the weekend. Now, as far as everything being down for the weekend: markets closing in a few hours [Friday]; Forex shutting down – this weekend could be an interesting turn of events that happen over the weekend taking us into open of business on Monday. Could be rather exciting! Right now I just have to patiently wait for the information to trickle in and lets see where we wind up between now and sunrise on Monday morning. Time will tell and all we can do is patiently wait on it..