8-8-2012 Newshound Guru Mike they want to use Letters of Credit to start financing everything thats going in and out of Iraq so they can make sure they have legitimate deals…With a Letter of Credit everybody has to perform…everybody knows where they are at and a whole legal system that comes into play internationally when you mess with Letters of Credit…Gives the Central Bank a stronger standing to put a lid on their economy…that was the next step we were waiting to see.
8-8-2012 Intel Guru Checkmate I absolutely believe that the Iraqi dinar has to improve back to where it was or higher. I am very positive that this could happen at any minute, but I am OK it it lasts longer.
8-8-2012 Intel/Newshound Guru Poppy3 I got a great call last evening and the rumors on the streets of Baghdad are saying the RV is very close and people are said to be preparing to return from kuwait and other regions back to their homes in Iraq. They left for humatarian reasons. Lack of money, health care, etc. Those with the means to leave and work elsewhere are now talking and planning to return very soon. This is great news because they have intel we are not privy to. The professional people like DR’s, engineers, lawyers, etc., they had the means to leave and also have inside connections to gather information you and I could not get from the inside of the GOI in Bagdad. I am very encouraged that political progress seems to be moving fast to completion and the public responding in this way definitely shows what BGG and I have been reporting is in fact taking place. Once the politics are in line, our blessing should fall in our laps before we even know it.
8-8-2012 Newshound Guru Doc Our opinion continues the initial rate will be around $1. This in and of itself is huge; however, all of Shabibi’s statements around initial rate talk about being on par with the USD. A recent article suggested the common citizen is expecting something slightly above $1 and at that point would trade their USD for dinars. This also supports the estimate of $1.13 to de-dollarize the country. We continue to believe the rate will be of this magnitude because Shabibi has also stated he wants the dinar as the currency of choice going into 2013. To RV at the massive rates being reported would be economic suicide for Iraq. Also remember the CBI is a privately held business and as such exits to make money. RVing at a lower rate and working the rate up over time affords the CBI of a greater profit potential. We report, you decide. [post 4 of 4]