Dinarland Highlights for January 17, 2017

Dinarland Highlights - 1.17.17

BGG

Article:

"Governor of the Central Bank’s “Tomorrow Press”: Iraqi dinar is not in danger and delete the zeros Postponed"

[AND ALAK’S RESPONSE IS NOT UNTIL IT IS SAFE TO DO SO!...does this mean Mosul?]

probably - (my take)...it really looks like control of Mosul (and liberation) seems to be some kind of criteria (set for them by someone else). however, there are numerous references to this happening soon.

...in my book - that doesn't negate any of the earlier CBI comments about the beginning of 2017 - sounds a bit like they may have had it planned for sometime before now and some calculus has put things off a bit...like Mosul?

...AND Alak makes no mention of "how long" it is "postponed" (or what their original intended start date might have been)... a day - a week - a month?? He's talking to a reporter. Could mean anything.
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My Ladies

IRAQ ANNOUNCED...THE DELAY OF THE DELETE THE ZEROS PROJECT... THE WHOLE REASON FOR THE DELETION WAS TO PRESERVE THE CURRENCY AND THE NEED IS NO LONGER PRESENT...OTHER COUNTRIES HAVE DELETED THE ZEROS, AND IT IS A MAJOR UNDERTAKING AND USUALLY FOLLOWED BY A DEVALUATION OF CURRENCY, THE DINAR IS STABLE IS AT THIS TIME. THE GAP BETWEEN THE OFFICIAL RATE AND THE BLACK MARKET RATE IS CLOSING. ...AT THIS TIME THE OFFICIAL RATE IS 1182 AGAINST THE DOLLAR AS OPPOSED TO 1300 AGAINST THE DOLLAR WHICH IS THE MARKET PRICE...

ON FRIDAY THE CBI CAME OUT AND ANNOUNCED AN INTENDED DOLLAR BOND SALE AND THEY ALSO SAID THAT THEIR FINANCIAL SITUATION IS SAFE UNTIL 2021. THE IMF AGREED WITH THIS. ALSO LAST WEEK IRAQ SAID THIS COMING WEEK THEY WILL BE SELLING THE DOLLAR DIRECTLY ACROSS 5 BRANCHES FOR THE OFFICIAL RATE WHICH FURTHER PROVES THE STRENGTH OF THE DINAR AND THE CLOSING OF THE GAP BETWEEN OFFICIAL RATE AND MARKET RATE. IRAQ DOES NOT NEED TO CHANGE THEIR PRICE TO BECOME INTERNATIONAL AND THEY MAY BEGIN TO TRADE, BUT THEY WILL NOT EVER PUSH A BUTTON AND JUMP TO 3+ DOLLARS, THIS IS NOT HOW THING WORK...
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wmawhite

Article:

"The Central Bank Governor for "tomorrow": Iraqi dinar is not in danger and delete deferred zeros"

Folks...each of us need to pay attention to exactly what is said. Alak was referring to the large notes, the removal of the large notes from the currency. That is NOT the same as increasing the value of the currency. They are two very different events. ...this is pertaining to the removal of the three zero notes from the marketplace/from the currency; "the Iraqi Central Bank did not specify a date for the "...deletion of zeros from the currency dinar," This Statement is not about the change in the value of currency. He is saying that the prices in the marketplace are not appropriate yet in order to remove the currency. So, what will change the marketplace?

A change in the prices of goods; the prices are what determine the size of the notes. Lower the prices, remove the large notes. What will change the prices of the goods/ marketplace? A dramatic increase in the value of the currency that is importing the goods. General stability, security = FINANCIAL security, financial stability, not military security. Alak is a bank manger, not a military... Alak is saying today the market conditions are not correct for removing the large notes...and he does not have a date for that...he will not have an idea when until he raises the value and we know he is preparing to do that. Two different things...One is removing them physically to lower the note count....the second is removing them naturally because the prices have lowered due to a value change. The prices in the market place need to lower in order for the citizens to use smaller notes, thus no need for the larger notes.
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Mountain Goat

Where is Iraq in this process? There is absolutely nothing to indicate to us any hold up or delay in the EARLY 2017 process to move forward with the “project to delete the zeros”. There was one new article about the project to delete the zeros and I believe this one was totally misinterpreted by many... Article: "Governor of the Central Bank's "Tomorrow Press": Iraqi dinar is not in danger and delete the zeros postponed already many times, going forward" I believe it is actually just the opposite. It is all very good news... It is not saying the project to delete the zeros is postponed again. The postponement part in the headings is simply telling us they did postpone it already way back in 2015/early 2016 and we are still waiting for it and that they are just delaying it due to...do to...SECURITY, SECURITY and the need for more SECURITY. The CBI is basically telling us its coming and so just hang on.

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mike

Article:

"Iraqi dinar is not in danger and delete the zeros Postponed"

Quote:

"revealing that the deletion of zeros from the currency, deferred for the time being." The loose translation for defer is "to put off (an action or event) to a later time; postpone." And then he states: "the Iraqi Central Bank did not specify a date for the deletion of zeros from the currency dinar," noting that "subject to availability of appropriate conditions, including the general stability in the country."

He's telling us they don't have a date, they're just waiting for the right conditions to move forward. In order for a currency to have value it needs several things like political stability, free from conflict and a economy that produces and exports products to create demand for the currency...once they raise the value the prices will change, 10,000 dinars today will buy you five packs of smokes, 10,000 dinars after it rises to 1-1 will buy you a Toyota pickup.
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ADMINBILL

LIFT OFF IS IN SIGHT. AND IT COULD BE BEFORE THE INAUGURATION. NO PROMISES BUT THE LINES ARE BUZZING. REMEMBER, WE HAVE HEARD IT ALL BEFORE BUT THIS IS VERY WELL SOURCED. UPDATE INFORMATION:

I just received a personal message and got permission to share with everyone: Tonight [Monday] brings excellent news with a possibility of an increase in value of all currencies between shortly before and shortly after the inauguration. This information is new tonight with multiple separate sources in agreement. ...it appears we are inching rapidly to the finish line.
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wmawhite

[...wouldn't reducing the note count to the point of a liquidity crisis force a rise in the value based on supply and demand once the Dinar is free to go up in value?]

The note count has an effect in country, but only the CBI sets the value outside the country.
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hutch

...we do have an idea of what is happening...if you look at their 5 yr plan that has been set out by shabibbi, saleh and abadi... they are sticking to it. And it is playing out. The LOI's, MOU's have it all set out as to what their goals are and how to achieve them. And its working.
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mike

Article:

"Iraq opens the door to possibilities deletion of zeros from the local currency"

Quote:

"...the Iraqi Central Bank did not specify a date for the deletion of zeros from the currency dinar," noting that "subject to availability of appropriate conditions, including the general stability in the country."

...the CBI is working towards adding value to the dinar...the CBI didn't specify a date, they're still waiting on appropriate conditions and they want to make sure all their T's are crossed and their I's are dotted before they start. I think it's pretty safe to say...that Iraq needs to do some things before the dinar will gain in value:

1) Get the MCP below 2%

2) Remove Exchange Restrictions

3) Pass the long overdue legislation related to the the banking and economy verticals.

4) Create the open market that's necessary to increase demand.

Iraqi Dinar Revaluation and Global Currency Reset News | Dinar Chronicles

Courtesy of Dinar Guru