THE DINAR OBSERVER DAILY May 26th

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*** Current Posts ***

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wmawhite - [So they want to Increase their money supply or no?]  It is a fine line…they need the notes in order to buy/sell…However, the fewer notes country wide the more value there is.  Folks, all this talk in Iraq about the currency/notes is really not about what we want. It is needed in a sense because they will need the correct mix of notes in order to participate within the economy.  However, when they speak about value with smaller notes, then that is dependent upon the value of the IQD outside of Iraq   …keep in mind when you hear “increased purchasing” power that only happens for the Iraqi when the costs of goods decrease, i.e. the prices on the shelves go down. This will happen when the currency that is buying those goods increases in value.   the reason this is such a requirement is because 90+% of all goods in Iraq are purchased outside and imported.   [post 1 of 2....stay tuned]
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BGG - With the recent news, I am so thankful I have all my affairs in order because there is no telling what is going to happen.  Article:  “Central Bank of Iraq To Issue Large Value banknotes“   This is really the biggest news of the day.  In context it says “large value banknotes“…it is plain what thought they are trying to transmit to the average Iraqi…they are implying there will be higher or more value to their currency.  I don’t think we will have long to find out.
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Delta - Just a quick update about the CBI.   I’m excited…it looks like we are ready to finish the final chapter.   We have some confirmation about the article came out about the 50 dinar…the 1,000 dinar…the 100,000 dinars … basically the confirmation from the CBI…they stated that the CBI is planning to increase the value of the Iraqi Dinar BEFORE they introduce those denominationsLots of things starting to line up.  Looks like we might see the rate change before Ramadan. We believe that everything is done…just waiting for the right timing between the GOI and the CBI.   IMO…this is the right timing…before Ramadan.
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For their failure and corruption … stripping trio of all the presidential privileges

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Baghdad / Iraq News Network called on several members of the current parliament Prime Minister Haider al-Abadi private jets to withdraw from the three Vice-Presidents of the Republic of Osama Najafi and Iyad Allawi and Nuri Almaliki.mn his part, MP Mithal al-Alusi, the need to withdraw all planes of the three held by al-Maliki and Najafi and Allawi as belonging to the state ownership and not for their person and that the commander of the armed forces should it drag them all because the country is in dire need…

Read More: http://dinarupdates.com/blog/
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tman23 - [we are still in a goodplace w/this investment IYO?]  ABSOLUTELY!  WHY WOULD ALL THE ARTICLES BE DEMANDING REMOVE THE ZEROS…FROM PARLIAMENT…IF SECURITY WAS AN ISSUE? WHY?
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BGG - Article:  “Central bank of Iraq to issue large-value banknotes“  Quote:  “In an important step to support the economy through monetary reform, the Central Bank of Iraq plans to issue banknotes with larger values than the ones in circulation…“    they plainly said “large value notes“…Large value – NOT LARGE…WOW!  [Please give an example of  Large ---VALUE note.]   by their own admission – a 50 Dinar note worth $43.00 – that would be a large value note.  looks like things are about to get interesting.
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Millionday - Article quote: ”…announced the approval of the establishment of each of the Rafidain and Rasheed deposit part of their money with private investment of the funds of private banks in investment projects…“  REMEMBER THAT RAFIDAIN BANK HAS ANNOUNCED THEY ARE OPENING INTERNATIONAL BRANCHES.   SO THE FUTURE PLANS ARE HERE – WHOOPOW – MOVING FORWARD WITH PROGRESS THEY PLANNED ON… IRAQ SEEMS TO BE GOING FORWARD AS PLANNED…
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Central bank of Iraq to issue large-value banknotes

In an important step to support the economy through monetary reform, the Central Bank of Iraq plans to issue banknotes with larger values than the ones in circulation, a senior official says…

Read More: http://dinarupdates.com/blog/
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Delta - they’re ready to go, we’re very, very close and they have to keep moving…the banking system is ready and there’s a lot of pressure. The financial committee said JUST LIFT THE 000’S so you can move forward.  I believe they’re waiting for the right timing.  …if they do it during Ramadan it’s going to be confusion, but if they do it a couple of weeks before, they’ll use the dinar and not shock the market.  …the longer they go without a RV, the longer it’ll be for the next window and they can’t do it until the mid-July or end of July… Can they wait, yes, but the longer they wait, the more issues they’ll have.  the next window is from now to the first week in June…we know it’ll be 85-86 cents.   [post 2 of 2]

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Frank26 - IMF said you have to do 2 things – raise the rate and pass those border taxes.  Guess what?  The CBI/GOI today ANNOUNCED they have 20 laws about to be released and it’s the tariff laws! All of this to get security.  Do you see that MasterCard wanted to come into Iraq…still needs an international rate but they still issued the cards to the retirees living outside of Iraq. Position and posturing.  Last year is the first time we didn’t see the GOI go on vacation in the summer. They are there working.  It is permissible to work during Ramadan – it’s just rare.
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Delta - It looks like the Parliament had a meeting with the leaders to pass 20 pending laws…they’re ready for voting. They’re going to accomplish this in the next 3 days. One of the most important is the investment law… The revaluation is to increase the rate and this law will help Iraq do that Everyone knows that the CBI is coming out with the 50 and 100 dinar…still confusion that it’s a 50,000 and 100,000 but it’s not…it’s just the value. Abadi said this is what we need because we need the money supply, easier to carry around and something they don’t have to use like US dollars.  It looks like the rate will change before they introduce the lower denominations and 24 – 48 hours we should see the lower denominations along with the 20 laws to pass this week and the activation for the private sectors we’ve been waiting for…the new rate is one of the anchors for the private sector and economy.  [post 1 of 2....stay tuned]
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Millionday - Article quote:  “The emergency meeting, which was held in the presence of Parliament Speaker Salim al-Jubouri in the House of Representatives aimed at resolving differences over the broken laws and the possibility of reaching agreement on them and present them to vote at the meeting on tomorrow.“  THEY ARE WORKING TODAY [MONDAY] TO RESOLVE LAWS TO HOPE TO VOTE THEM ALL IN TOMORROW [TUESDAY].  WHOOOPOW.
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tman23 - Google Kurdistan to print own currency………..Was an article by Rudaw a year or so ago……. Kurds were not getting IQD to the region……….Liquidity was low……….Not much has changed……….Rudaw report said because transportation lines were dangerous (trucking money)……..Well, Anbar then has to be worse on money supply………Mosul even in a tougher situation……. IQD money in circulation said to be 40 trillion IQD…..31 billion usd……Remember ….THE CBI HOLDS 20% IN RESERVES……….this is NOT COUNTED AS IN CIRCULATION…..SO THEY NEEDED TO BE AT 25 BILLION NUMBER ACCORDING TO SHABIBI TO DROP THE ZEROS…………DOESN’T GET ANY BETTER THEN NOW !!!!!!!!   LARGER NOTE MAKES NO SENSE FOR ANBAR OR KURDISTAN…
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Kaperoni - i look forward to Abadi launching the inititive for a market economy next week.  This will hopefully create some momentum.  there is a clear plan…introduce a 50k to consolidate the physical notes…that will happen within weeks…has no effect on the rate.  then when stability sets in, they will initiate the change in exchange.  if Abadi’s plan works, and the market economy begins to take off, it will create momentium and stability…the more stability, the more investment and it appears that Saleh wants to initiate the prjects by 2016.  So the dinar will begin to rise then. And we shall see the dinar appreicate over the next few years…eventually, the zeros will be deleted as the dinar rises… unfortuatly, now is not the time…so we wait…i wish they would start now but they made it clear its not the time.   the proof will be the new 50k coming out in a few weeks or less unfortuately we are going to have to sit and relax for a few months.
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Poppy3 - GOTTEN SEVERAL EMAILS OVER THE WEEK END AND EVIDENTLY SOME [ONE] HAS AGAIN BEEN SAYING THAT BANKS ARE TRAINING NEW EMPLOYEES FOR A RUN ON THE BANK WHEN THE RV HAPPENS.   …IN AMERICA LESS THAT 1% OF PEOPLE EVEN KNOW WHAT A DINAR IS MUCH LESS ARE INVESTED IN THEM. SECOND MORE THAN 80% OF AMERICANS ARE PAid on friday YET ON FRIDAYS WHEN MOST BANKING IS DONE WEEKLY THERE ISNT A RUN ON THE BANKS THAT REQUIRES MORE TRAINED TELLERS…THERE WILL NOT BE A RUN ON THE BANKS…ALL IS WELL AND YOU WON’T HAVE TROUBLES EXCHANGING YOUR DINAR ONCE WE GET A RATE TO WORK WITH. 
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tman23 - In an interview given to CNBC at the World Economic Forum in Jordan, Kurdistan Region President Masoud Barzani has warned Baghdad that a failure to resolve the budget issues will lead to the KRG selling oil independently. Either Iraq will commit to the agreement that they have and will pay the Kurdistan Region or, in another case, if they don’t and fail to pay Kurdistan, then we will be selling our own oil and collecting our own revenue,” he said, saying that the deadline for cooperation is just “one or two…months” away… Barzani statement from DAVOS economic forum…and is in INK… Baghdad has about 1 month to begin paying …2 at the most! So we can assume that 1.2 billion is expected in full in by mid July at the latest or Kurds will collect their own oil and collect their own revenue…Abadi said a few weeks ago that starting July Iraq would be able to make all payments in full and on time… And in January he asked citizens to be patient until June.
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BGG - Article quote:  “Iraq today – the parliamentary finance committee the central bank demanded the implementation of the project to delete the zeros of the three of currency instead of issuing new editions of major categories.“  This is obviously THE BIG news of the last few days…Demanded…they’ve essentially “Demanded” an RV…I don’t know how else to say it…the Finance Committee got their point across to the CBI.
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Mnt Goat - …now we see the resurfacing of the Mastercard contract with Iraq. I want to tell you this does not put any more pressure on Iraq to RV but is a good sign since it a progression in the plan to see the RV shortly.   Iraq can begin using these cards to payout on these special welfare like programs TOTALLY UNAFFECTED BY THE RV? THEY DO NOT NEED A revaluation TO BEGIN THESE PAYOUTS! It seems we are hearing great news on many laws going into the next parliament session for the final vote and then they never reveal what happened until eventually we see them in the gazette. We are expecting a bundle of laws placed in the gazette all at once in a close proximity of timeframes when they are ready.  NO SECURITY, NO NEEDED LAWS, THUS NO RV!  [post 2 of 2]
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Enorrste - A member of his [Bush] staff did make a quote that seemed to indicate that he felt that Iraq would “pay” for the war in some way in the future…Bush never actually made the quote…  Whether that was through a contract for oil at $23 per barrel made with the US, as some have indicated, or through a rise in the value of the dinar, as others have stated, is anyone’s guess.  In any case, it would not take an RV to “pay” for the war.  The US, supposedly, is sitting on a lot of dinars at the Federal Reserve (although that has never been proven).  Should the value float up to $1 or more, then the US will have been “paid back” for the war through that means.  An RV isn’t necessary. At $1 the value of the money supply would be $41.5 trillion.  That is about 3 times the money supply of the world.  It just can’t be supported.  They would have to reduce the money supply to about $40 billion PRIOR to an RV, and they can’t do that and still keep the economy going.  The ONLY way to do this is through a float.
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Mnt Goat - …the CBI needs a sound level of SECURITY in Iraq to bring back the currency. The USA agrees with their decision to hold off until this SECURITY level is reached. It is now up to the CBI to determine this needed level since it is their country.  Let me say the GOI does not like this delay and will do everything in their power to circumvent the CBI in this matter. They are supposed to be working together on this event but apparently they are still at odds.  In the long run the USA has the ultimate power to decide to complete the rollouts of the new rates to the currency exchanges and the RV can not happen without it.  I am told they will NOT do it without the full support of the CBI (and not so much the GOI).   [post 1 of 2....stay tuned]
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CURRENCY CODE SELL BUY

US dollar USD 1166.000 1164.000

CURRENCY CODE SELL BUY
US dollar USD 1166.000 1164.000
Euro EUR 1301.722 1301.072
British pound GBP 1824.207 1823.295
Canadian dollar CAD 948.893 948.419
Swiss franc CHF 1253.224 1252.598
Swedish krona SEK 140.843 140.773
Norwegian krone NOK 154.718 154.640
Danish krone DKK 174.572 174.485
Japanese yen JPY 9.633 9.628
Special
Drawing Rights
SDR 1640.480 1639.660

Indicative rates – 26.05.2015

http://www.cbi.iq/

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DC - WE’RE ALL STILL IN THE GAME AND THE GAME IS STILL ON…EVERYONE IS READY…
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BGG - [When the GOI orders the CBI to do something, such as drop the 3 zeros...how long should this take to be completed...this is what was ordered, correct?]  We’re about to get a ring side seat to see this very set of circumstances play out.  [so do you feel all the isis stuff will have no impact in the very very near future?]  if it does – it may enhance our opportunity – if anything.  THE GOI NEEDS MONEY JUST LIKE YOU AND I… without a currency shift they cannot meet their budget and they need all the extra money they can get ahold of to fight ISIS.
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wmawhite - Am I crazy? Are we missing something here? I am not speaking about any of you. Instead, I am referring to everyone else that do not understand that a piece of currency inside of Iraq will never have greater value (i.e. purchasing power) unless the prices across the whole of Iraq fall dramatically. And how will those prices come down? It will take a more valued currency, a greater valued currency, to purchase the goods that are currently on the shelves across Iraq.

The situation inside Iraq is as close to a perfect economic model as you could ask for because 90+% of all consumer goods are purchased outside of Iraq. Because of the current value of the currency the importers are purchasing goods with the USD. The CBI has no control over the USD to increase its value, thus lowering the costs of the goods. Therefore, the only way Iraqis will see an increase in “purchasing power” will be when those goods are purchased using a currency of much greater value than the USD. In other words, if the IQD was equal to the USD and the same goods were purchased/imported there would be no change in the costs of the goods. Thus, no change in price on the shelves.

However, as the value of the IQD is increased above the USD the same goods that are currently imported would decrease in costs thus raising the “purchasing power” of the IQD notes we hear and read so much about.

In closing,………….I want to express my belief that none of what we continue to read about. i.e. like value…….same value, none of it is doable without a decrease in the costs of goods and that is not doable without a currency of greater value doing the purchasing of what is imported into Iraq.

I guess I should have added to the end of my post that floating or gradually raising the value of the IQD outside of Iraq will NOT decrease the costs of those goods imported into Iraq. Therefore, a large substantial increase in the value of the IQD beyond the current value of the USD will be the only change that will do what they (CBI/GOI/parliament) keep telling us they intend to do…….and that is the increase in purchasing power of the IQD.

Thanks for reading.
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home7

Iraqi Dinar/Dollar auction 25-5-15

Currency Auctions Announcement No. (2957 – the most recent listing)

This daily currency auction was held in the Central Bank of Iraq on the 25-May-2015

The results were as follows:

DETAILS NOTES
Number of banks 21
Number of remittance companies 1
Auction price selling dinar / US$ 1166
Auction price buying dinar / US$ —–
Amount sold at auction price (US$) 172,610,000
Amount purchased at Auction price (US$) —–
Total offers for buying (US$) 172,610,000
Total offers for selling (US$) —–

More: http://dinarupdates.com/blog/
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Jester - [all I really want to know is date and rate...]   RATE… NOT WHAT YOU ARE HOPING FOR… NOT WHAT YOU ARE EXPECTING… DATE… BETWEEN NEXT WEEK AND NEVER… HAHAHAHA.    ALL THE PUZZLE PIECES SEEM TO BE IN ORDER... THE FLY IN THE OINTMENT RECENTLY IS THE APPEARANCE OF THE SO CALLED OVERPRINTED DINAR… AND WHAT THEY HAVE DECIDED TO DO ABOUT IT… BUT ALL THE PIECES ARE THERE… AND THE PLAN IS MOVING FORWARD…
AT A HIGH RATE OF SPEED.  IT IS NOT GOING TO PLAY OUT LIKE EVERYONE THINKS…
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Poppy3 - Article quote:  “Your national team revealed preparing promotion of the private local and industry sector strategy, on Saturday, about the government’s intention to launch the strategy next week“    their PLAN IS MAY AND THEY SAID IT IN INK…AND ALL THIS WONDERFUL NEWS NOW SAYING LAUNCH NEXT WEEK…WOW, WOW, WOW.
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Millionday - ACCORDING TO WHAT WE ARE READING THEY HAVE A TIMELINE FOR SO MANY LAUNCHES TO OCCUR NEXT WEEK.  HOWEVER WE HAVE TO WATCH THE ACTION.   [If the are planning in launching this next week, will the have the laws voted in place by then?]  I WOULD ASSUME THEY EXPECT TO HAVE ALL PERTAINING LAWS IN PLACE FOR THIS ALL TO BE ACCOMPLISHED.   [launch as in activate?]  YES.   I AM EXCITED TO SEE WHAT HAPPENS.  [post 2 of 2]
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tman23 - CBI is printing a 50 one thousand and a 100 note…….The CBI says they are not going to print the 100 note……….The CBI says they have the drafts printed and are printing the notes 50 and 100 one thousand…….The CBI says they are not printing the 100 one thousand note……..The CBI says they are printing a 50 that will have value of 50,000……. The CBI says……”the draft printed currency was necessary to modify the structure of Iraqi banknotes………  I challenge you to find 1 Central Bank on this planet that operates in this fashion……There is only one……..IRAQ…….  Trying to attract investors for liquidity and sell bonds…… Either they are totally inept or are adding confusion with a purpose…….  JP MORGAN is not inept…nor is the IMF, World Bank, or UST……..
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Millionday - Article quote:  “Your national team revealed preparing promotion of the private local and industry sector strategy, on Saturday, about the government’s intention to launch the strategy next week”   [the ink looks like it is showing us the beginning of the revalue?]   THE INK IS SHOWING US THE LAUNCH OF THE INTERNATIONAL BANKS – THE PREPARATION OF THE REDUCTION OF THE PARALLEL CURRENCY MARKET —THE LAUNCH OF THE INDUSTRY AND PRIVATE SECTOR — TAXES /CUSTOMS/PRODUCT PROTECTION/AND MARKET EXPORTING — AND THE MOVEMENT OF BUDGETED MONEY.   ACCORDING TO REPORTS — ALL OF THIS IS PLANNED WITHIN THE NEXT WEEK  [post 1 of 2....stay tuned]
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Kaperoni - Article quote:  “the Governor of the Central Bank on the Keywords for “Qurtas News” that the project application to delete the zeros Matrouh the bank’s management for years but its application depends on the stability of the country, indicating that the central bank found the plans in order to strengthen the dinar and stability through printed with groups of local currencies large Kal50 thousand dinars and 100 thousand dinars.”    It is very clear that nothing is going to happen with the exchange rate for a while… until stability.  In the mean time, they plan to issue the larger bills to “deflate” or reduce the physical paper in circulation.  Unfortunately, we have a bit yet to wait until the conditions are such that they can begin to raise the value.
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Delete zeros alternative to large cash categories

حذف الاصفار بديلاً للفئات النقدية الكبيرة

The parliamentary Finance Committee, has asked the Central Bank to implement a project to delete the three zeros from the currency, instead of issuing new editions of large groups. The Committee Member said attorney Abdel Kader Mohammad Omar in a statement, the Central Bank intends to issue new editions of large groups of 50 000 and 100 000, while the draft three zeros from the currency, deletion delayed its implementation until further notice. ” He added: “the deletion of zeros is better than reprints under the current circumstances”, calling for the deletion of three zeros to the restructuring of the local currency in order to reduce the money supply in the country. ”

Read More: http://dinarupdates.com/blog/
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Frank26 - The MR [Monetary Reform] at this moment in our known time is vibrantly LOUD!   THEY ARE GETTING IT DONE.
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Poppy3 - THE VERY NEXT DAY ABADI ANNOUNCED THAT THE GOI AND CBI WILL WORK TOGETHER TILL ALL REQUIREMENTS ARE COMPLETED.   THEY HAVE HAD MEETINGS EVERY DAY SINCE WITHOUT A DAY OFF.  THE SOURCE SAID…WHEN THEY FINISH WE WILL SEE THE NEW RATE REGARDLESS OF TIMING OF RAMADON, HOLY DAYS, END OF QUARTER, BEGINNING OF QUARTER, NEW YEARS ETC.  I AM VERY ENCOURAGED AND EVEN GETTING EXCITED BECAUSE INDICATIONS ARE THEM SAYING THEY WANT TO FINISH IN MAY APPEARS VERY ATTAINABLE.  [post 2 of 2]
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tman23 - I was told…… The providence of Sulaimania, (home of Talibani) and the party that put Masum up as President of Iraq…. Iran called on Masum and announced their discontennt with his not following recommendations from Terhan…..Barzani’s term as President is up August 19th and Terhan is making noise that a 3rd term is not Constitutional and Barzani is only for control of oil, guns, and money and needs to be removed without a being awarded a 3rd term.  Iran is also upset about Erbil allowing USA military bases in it’s territory….Barzani must go and also the US military bases…. Notice you have not heard much from Masum….Barzani needs to get the Kurd region on the road to prosperity……Terhan is attempting to divide the KRG and PUK and start another war between them as in 1998….. Pressure is on Barzani to deliver to the Kurds before 8/19……How important do you think the next 30 days are ??
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wmawhite - I have never, never bought into the 50K and 100K hype and here is why. This is from another researcher…Putting the 50K and 100K to pull in the smaller notes would be the same as HAVING A 500 OR ONE THOUSAND BILL REPLACE ALL THE 1, 5, 10, 20, 50 AND 100 DOLLAR NOTES HERE IN THE USA. THAT IS WHY THIS RUMOR SHOULD BE PUT TO REST. JMO.
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Poppy3 - I REPORTED TWO MONTHS AGO THAT HAS NOT CHANGED…INFORMATION FROM THE BEST SOURCE EVER…SAID [MEETING OF] ALL IMF,WORLD BANK, ABADI , JUBORI AND THE LEADERSHIP STAFF OF CBI INCLUDING DR SHABIBI TOOK PLACE…AND THEY COVERED THE LIST OF ALL ITEMS THAT NEED COMPLETING STEP BY STEP TO MEET ALL REQUIREMENTS. THEY THEN DID SOMETHING THAT THEY NORMALLY…HAD NEVER DONE…THEY PLEDGED TO ONE ANOTHER TO EACH DO EVERYTHING THEY MUST DO TILL THEY COMPLETE THE LIST, THEY SHOOK AND THEN HUGGED ONE ANOTHER ON THE AGREEMENT. (THAT HAD NEVER BEEN DONE BEFORE). [post 1 of 2....stay tuned]
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Enorrste - …the CBI NEVER intended to do an RV…we…know that the CBI would be foolish to even consider such an idea because it is financially impossible. The RV was never in the plan, ever.   It was never in the cards at all! Therefore, to conclude, both the float and the introduction of the larger notes have always been in the plan.  The introduction of the large notes will begin the process of bringing the street rate closer to the official rate (a good solution since the auctions are now off the table).  The introduction of the large notes is imminent.  It is also a part of the plan.  Therefore the continuation of the plan is imminent as well.  After the large notes are issued and the street rate begins to go back toward the official rate, AND, with the reduction in paper that the larger notes will effect, the completion of the plan, namely the change in the exchange rate regime, will be possible.  …I am still cautiously optimistic that this could all get accomplished (start the float) before the end of the year, with the caveat that the security situation is a wild card.
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Poppy3 - I DO STILL BELIEVE THEY WERE AND ARE SERIOUS ABOUT COMPLETING ALL REQUIREMENTS FOR FINANCIAL REFORM BEFORE THE END OF MAY. 
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tman23 - Dates… May 25th Parliament will vote and pass the Investment Law… Then the CBI has 15 days to “show me the money”… The new currency they are going to be releasing!
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POPPY3 - [They are voting on the investment law on Monday is that right?]  THATS WHAT I HEARD BUT ALSO HEARD THE INTERNATIONAL INVESTMENT LAW WOULD BE VOTED ON TOMORROW.  TIME WILL TELL VERY SOON.  REGARDLESS THEY KNOW WHAT IS NEEDED AND THEY ARE COMPLETING EVERYTHING AS SOON AS THEY CAN.  IT IS ALSO VERY OBVIOUS THEY NEED THE RV AND WANT IT AS BAD AS WE DO BECAUSE AT PRESENT LARGE INVESTORS ARE TALKING BACKING OUT LIKE FORD MOTOR WHICH WAS TALKING BUILDING MANUFACTORY THERE WHICH WOULD MEAN BILLIONS IN INVESTMENT. MANY OTHERS PENDING AND THEY KNOW WILL BACK OUT ALSO IF THEY DON’T GET THINGS COMPLETED.
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Parliament held its meeting under the chairmanship of the 40-Jubouri and the presence of 213 deputies

Long-Presse / Baghdad The Council of Representatives, on Saturday, the 40th session of the second legislative term legislative year, the first under the chairmanship of its President Saleem al-Jubouri and the presence of 213 deputies, while the meeting will vote on the draft law and the first and second readings of the five bills…

Read More: http://dinarupdates.com/blog/
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Millionday - Article quote:  “Some citizens believe that the “large cash categories” to enter the market now is tantamount to adding new burdens on the ordinary citizen as simple salary categories will be hard to break or turn them into smaller groups in order to dispose of them.” THE LARGE DENOMS MAKE NO SENSE FOR SMALL PURCHASES AND NEVER DID — ADDING CONFUSION AND FEAR. THEY ARE SAYING THAT EVEN THOUGH THE LARGE DENOMS ARE ENTERING THE MARKET — THE SMALL DENOMS ARE ENTERING AND THEY ARE FORMING THE MODERN ECONOMIC BASE– GLOBAL MARKET –/TRADE…WHOOPOW.   KNOW ONE THING – THEY STARTED THIS THREE DAYS AGO AND SENT THE MONEY TO THE BANKS.
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Breitling - A lot of people are asking about the fall of Ramadi.  the Sunni (ISIS) have their section, the Kurds have their section and the Shia have their section of Iraq.  Are the Sunni ISIS taking over the Kurdish area?  No.  Are they taking over the Shia area? No.  There’s debate about if ISIS took over huge swaths of Iraq…It was sunni sections anyway!   If there were pockets of people who didn’t go to their church they paid…like the christians or a Shia town or village that’s where the turmoil comes in…but they’re taking over their own section.  So does it sound like the whole country is going to fall?  No, they simply took over their own section.  It’s a balance…watch as a measuring tool how much they get into each other’s territory and that’s the best temperature you can take.  That’s why I don’t worry about some of the stuff that’s going on.
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Mailman17 - I AM GONNA STICK MY NECK OUT HERE…BUT IF…I REPEAT IF…IRAQ COMES OUT WITH A FIFTY OR ONE HUNDRED THOUSAND NOTE TO REDUCE NOTE COUNT, JUST WHAT THE HECK WILL IRAQS USE TO BUY ANYTHING UNDER 46 SIX BUCKS LET ALONE 90…ARE THEY GONNA TAKE IN ALL THE 3 ZEROES AND REPLACE THEM WITH A CURRENCY NO ONE CAN USE…NOT…THAT IS WHY THIS IS NOT AND NEVER WAS AN OPTION…EVER. THAT WOULD BE LIKE HAVING A 500 OR ONE THOUSAND BILL REPLACE ALL THE 1, 5, 10, 20, 50 AND 100 DOLLAR NOTES HERE IN THE USA. THAT IS WHY THIS RUMOR SHOULD BE PUT TO REST.  JMO.
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Iran likely to start exporting gas to Iraq by the end of next June

Long-Presse / Baghdad Suggested Iran’s national gas company, on Saturday, start the export of Iranian gas to Iraq by the end of next June, he attributed the delay in gas export schedule for a month for technical reasons.

The general director of the company Hamid Reza Iraqi in a press statement followed up (range Press), said his country is ready to export Iranian gas to Iraq within a month from now, “noting that” exports had fallen behind schedule for a month, because of final inspection on pipes measures…

Read More: http://dinarupdates.com/blog/

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tman23 - Come invest in Iraq……..OKAY !!  What are the capital requirements ?  What are the rates of applied taxes?  What is the timeline to move my capital out of country? How will disputes be handled? What are my liabilities if I employ local workers ?………AND what steps are in place to protect my vested interest… Don’t worry about that Mr. Investor….. Coming soon will be the investment laws that will describe obligations of thhe parties……. We will tell you all about it AFTER you deposit your funds in Iraq and are neck deep into it !!……..   They need the INVESTMENT LAW first !!  And then they immediately need to update with monetary reform……. This all ties together……to change values in the middle of the game will have an effect on some and result in an influx of complaints……  Bad news amongst investors spreads fast…..Iraq cannot afford bad press from investors at start up…….
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BGG - my comments on the developing story in Ramadi:  I am sure various news outlets are reporting things that suits their narrative – as they tend to do…however, Ramadi and ISIS is a serious situation. Will it directly impact the RV – I have been plain in my comments – if anything it puts additional pressure on Iraq. Not less pressure. I have not deviated – and I am thinking I’m on target here.  [With all this ISIS going on in Iraq is there any chance even for them to get this thing done in the near future, like next week, next month...?]   this may be the thing that makes next week, or next month even possible.
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Adam Montana - [Can there be a increase in value of the IQD before ISIS is eliminated inside Iraq?]  Eliminated? ISIS will never be 100% eliminated. Contained or Controlled? That’s another story, and it will happen soon enough.
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CURRENCY CODE SELL BUY

US dollar USD 1166.000 1164.000

CURRENCY CODE SELL BUY
US dollar USD 1166.000 1164.000
Euro EUR 1296.359 1295.711
British pound GBP 1809.749 1808.844
Canadian dollar CAD 954.799 954.321
Swiss franc CHF 1241.350 1240.729
Swedish krona SEK 139.005 138.935
Norwegian krone NOK 154.374 154.297
Danish krone DKK 173.778 173.691
Japanese yen JPY 9.647 9.642
Special
Drawing Rights
SDR 1634.172 1633.355

Indicative rates – 23.05.2015

http://www.cbi.iq/

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Frank26 - [I believe I heard Frank say...that they are considering this year "a year of exception" and they WILL work on the MR during ramadan to get this done.?]  Consider…They will work during Ramadan …Fight … Eat when they CAN.  Right now … Nothing can stop this Lava Flow but … God.
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BGG - [I don't feel hopeful for soon tell me I am wrong please!]  You’re wrong…there is way too much missing info for us to be able to make perfectly accurate assessments – one way or the other.  We’re in a good investment…that is enough.   
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Poppy3 - I can say with complete confidence that ISIS does not have control of anything. Plus all these banks they are reported taken over is all bull. They have never breached one bank vault within Iraq. YES THEY ARE THERE IN SMALL GROUPS SCATTERED THROUGHOUT AND YES MANY PEOPLE HAVE LEFT THEIR CITIES AND HOMES DURING AND AFTER ATTACKS BUT ISIS DOESNT CONTROL ANY CITY WITHIN IRAQ. SECURITY IS NOT AN ISSUE TO THE TIMING OF THE RV AT ALL.  THE COMMANDERS ON THE GROUND THERE ARE MAD AS H### AT THE MEDIA…BECAUSE THEY ARE MAKING THEM AND THEIR TROOPS…LOOK BAD TO THE AMERICAN PUBLIC. …I’LL TAKE THE WORD OF COMMANDER WITH BOOTS ON THE GROUND THERE.
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Check out the Dinar Corp 120+Max – it’s EQUITY!!

Commercial Solicitation

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Enorrste - I’ll stick my neck out with an OPINION: The CBI will not change the official rate.  Furthermore, the 50k and 100k notes will come out within the next 90 days and the paper currency will fall by 50% before the end of the year.  None of this will affect the money supply or the value of the dinar directly.  If, and this is a big “if”, the security situation has improved by that time then I believe the CBI will change the exchange rate regime before the end of the year.  If the security situation stays the same or gets worse, then we won’t see much before next year.  Of course I could be wrong.  [post 2 of 2]
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tman23 - …I am so focused on the INVESTMENT LAW…Which I expect to be brought to vote MONDAY the 25th of May. They are timing this Law with intentional delay.
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Enorrste - I believe that a genuine plan that is logical and consistent has existed for nearly 8 years now and that, however slowly, it is finally coming to a point where it will begin to pay off for us all.  I don’t believe that I am naive in being positive.  On the contrary, I find that Iraq is an amazingly resilient country, irrespective of the problems that it faces, which are many.  It seems to me that this “democracy experiment” has sunk deeply under their skin and they aren’t going to give up on it easily.  When placed up against ISIS’s view of the world, it looks pretty good!  …articles indicate that the currency will be the best available in the world.   [post 1 of 2....stay tuned]
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Chalabi: the next phase need a radical change in the economic policy of the country

BAGHDAD / Sky Press: Faleh Hussein - The head of the Finance Committee MP Ahmad Chalabi, Thursday, to the necessity of activating the investment side and give the role of the private sector for the advancement of the national economy, while noting that the next phase need a radical change in the economic policy of the country…

Read More: http://dinarupdates.com/blog/
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wmawhite - [...do you think that the wave of investors will move into Iraq before the IQD reprices and wait on it?  Or, the IQD repricing and the CBI says to the world "see here and we are ready to back our value because the IQD is a strong currency"...and then the investors start moving onto Iraq.]  I think the latter will happen first.
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BGG - [HOW MUCH OF IRAQ IS ACTUALLY BEING TAKEN OVER BY ISIS PRESENTLY?]  Not that much. I was looking at a map yesterday – ISIS is far more entrenched in Syria than Iraq.   personally – they have been losing ground steadily – they threw everything they had at Ramadi and it paid off (at least for now)… I don’t foresee this as a long term outcome – there is concern they will aim at Baghdad – I doubt it. They won big so far… but they are at the very edge of their reach – they have so little support out there and are an easy target to be cut off.
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Millionday - Article quote:   ”Rafidain Bank announced, on Saturday, announced the launch of MasterCard service E-retirees who are out of Iraq through its branches located there.“    THE BANK IS LAUNCHIING THE MASTERCARD SYSTEM –THE ACTIVATION OF THE CARD AND THE ACCESS TO THE FUNDS ARE NOT THE SAME AS THE LAUNCHING.   …THE SMART CARD IS EXPECTED TO BE USED FOR SECURITY IN GLOBAL BANKNG SO…THIS IS MAJOR NEWS FOR IRAQ TO HAVE A GLOBAL CARD COMING BACK ON TO THE MARKET AFTER ALL THESE YEARS.
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The new currency category 50 Thousand carry tamper-proof specifications

Image

BAGHDAD / Center Brief for the Iraqi Media Network (IMN) Finance Committee member Abdul Qader Mohammed said that the issuance of new editions of the coin fifty thousand class will be designed in accordance with the distinctive techniques by specialists to prevent the possibility of forgery.

He said Muhammad’s (IMN) that “the new currency will be launched soon in accordance with regulations and modern techniques and under the supervision of specialized technicians and design N fraud,” pointing out that “the new currency will compete with other currencies in the internal handling of the Iraqi market.”…

Read More: http://dinarupdates.com/blog/
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Delta - This article was very, very clear that the IMF, the World Bank, the US Treasury and the CBI GOI they are all now in agreement to raise the value by them lifting the 3 zeros. The CBI will announce a new exchange regime…announce that they are “Article 8” and they will announce a new rate and new denominations. The 50 and 100 dinar should come out together.  The plan for the CBI is to get rid of USD’s  which will enhance the value of the IQD  which will give more CONFIDENCE…especially INTERNATIONALLY! The exchange rate has to change no matter what to become international. The article said today by them coming up with a new currency they will be international. That’s Article 8  which must be a TRUE VALUE…around .85.   ...you don’t have to rush to exchange… they should have 2 or 3 different revaluations after the .85 cents. At some point they should get close to the value of Kuwait.  So the good news is every investor outside of Iraq…they are all going to be rich.  [post 2 of 2]
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BGG - Articles: ”Jubouri Announces Extension of parliamentary sessions to the end of the month” “Major movement forward in Parliament on several critical fronts”  Whatever they have coming up – it’s important… Whatever it is on the agenda – IT IS VITAL… for the Iraqi’s to continue passing up on a vacation – is odd.   I look for good things from this short Parliament session...  [...do you believe we'll see (it) before Ramadan?]  with all the possible distractions – it is impossible to say…anyone who does is foolish. However, in spite of the security challenges – Parliament and much of the GOI appear to be moving forward “with prejudice”… (“with purpose”).
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tman23 - What I just posted you need to read and understand where Iraq MIGHT BE HEADING…… If they offer Emerging Market Bonds…… (which it is believed they will) because of the CBI moves in liquidity from the CBI to banks for loans……. Why is this important ?………  Because every Bond purchased with IQD would benefit from a large currency revaluation……… Iraq wants to offer Bonds but they need to have the 3 zeros off the currency before they even attempt the offer……. ALL MOVEMENT is showing a head to the Bond direction to create investment and liquidity……. I believe FUND MANAGERS will be hesitant to buy in right away……..Even with the 5 billion in bonds that Iraq is speaking of may take some time because of the potential high risk to it’s clients
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Parliamentary Finance: Iraq’s new currency will be traded outside the country

[aaaaaaadasdsgerghreyeyyyu7]

The parliamentary finance committee, revealed Wednesday, about the possibility of the use of the new currency of the class hundred thousand fifty thousand outside the country, saying it will increase the strength of the national economy, especially after the deletion of zeros…

Read More: http://dinarupdates.com/blog/
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Delta - Apparently the article that came out two or three weeks ago about the 50,000 and 100,000 dinar notes…a lot of people are getting confused about that. This article should make you EXCITED and ready to celebrate…give you the confirmation that we are very, very close. No doubt about it.  Basically what the article is saying is the new currency that Iraq is going to come out…they will be able to trade/exchange it inside and outside of Iraq. That should make you very happy for so many reasons.   …they are going to raise the value, Article 8, and lifting the 3 zeros. How are they going to do that (lifting the 3 zeros from the exchange rate?).  The 25,000… 10,000…5,000…1,000… they are basically going to stay for a long, long time – until they phase them out!  [post 1 of 2....stay tuned]
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Mnt Goat - Update of the Needed Reform Laws:  I am now hearing that parliament fully intends to take a final vote on three of these laws later this week or next week. Articles have told us the likelihood of being passed is very high. - National Guard Law.  -Parties Law.  -Courts and Justice Law.
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Kaperoni - Article:  “Parliamentary Finance: Iraq’s new currency will be traded outside the country   The whole idea of them trading the dinar with the world is a good thing!  If Iraq can hold it together, and solve the security issues, we may see the deletion of zeros start by end of year.  I love these articles!
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Afternoon Dinar Drive Call!!

Info w/BGG – 5/21 @ 3:30pm CST

Click on the call banner in the upper right corner!!

Smart phone user link – Click here

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Mnt Goat - Today is Wednesday May 20th and still no RV and just 11 days till June… I am not calling the RV for June but telling you there is no sound evidence that it can or will happen prior to this timeframe of mid June. ISIS and the Iranian militias must first be dealt with. It is not my opinion but the currency rollout policy of the USA government. NO SECURITY, NO NEEDED LAWS, THUS NO RV!   Iraq can move in the any direction it wants and try to rollout many of the international obligations needing the international exchanges for their new currency, as we are now hearing. But in the final analysis the IMF and the USA still…have the final say.
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tman23 - …yesterday the 19th was a voting dud as we suspected such last week it would be… SO…The 25th we are looking for the vote on the investment law… And my money is on it being passed on the 25th…and IMO it is BIGGER than any other law at the present… There was NO REASON NOT TO VOTE ON THE INVESTMENT LAW…OTHER THEN THEY ARE TIMING IT WITH???
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Adam Montana - [With the CBI lending/giving money to the GOI and banks, is this a good sign?]  I don’t think it’s a bad or a good sign. The CBI does whatever it wants and as long as I’ve been watching this deal, they ALWAYS stay on top of every aspect.  With that said, I don’t worry about what they do until the day they change the rate.   Everything else is just fluff and filler.
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CURRENCY CODE SELL BUY

US dollar USD 1166.000 1164.000

CURRENCY CODE SELL BUY
US dollar USD 1166.000 1164.000
Euro EUR 1296.359 1295.711
British pound GBP 1809.749 1808.844
Canadian dollar CAD 954.799 954.321
Swiss franc CHF 1241.350 1240.729
Swedish krona SEK 139.005 138.935
Norwegian krone NOK 154.374 154.297
Danish krone DKK 173.778 173.691
Japanese yen JPY 9.647 9.642
Special
Drawing Rights
SDR 1634.172 1633.355

Indicative rates – 21.05.2015

http://www.cbi.iq/

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SteveI - This is an investment into a country with…very rich vast assets to back up a more valuable currency than what it is at this point in time.  One year ago ISIS was not a factor, but now it is. …ISIS will not be here forever.  I have some very close contacts and ties to this and I will not in a million years bail now. (maybe not ever) with what I know.
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tman23 - The CBI SAID…The “NEW” must come FIRST…(are they meaning the new lower denominations) AS A PRELUDE TO LIFTING THE 3 ZEROS FROM THE CURRENCY… If they are speaking of new lower denominations…THEN when they introduce them…SHORTLY AFTER (and there will be a time frame) THEY WILL TAKE AWAY THE LEGAL TENDER STATUS OF THE 3 ZERO NOTES…MEANING THEY WILL NOT BE ACCEPTED IN THE MARKET…BUT WILL BE EXCHANGED FOR A PERIOD OF 2YRS OR 10 YRS…(WHAT EVER THEY DEEM AN APPROPRIATE TIME).
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Mnt Goat - …the RV will have much higher market rates using the market rates once international however the agreed to program rates are not in these new revalued rates coming out shortly. So they must stick to the  program rates and won’t increase them until parliament approves a higher rate in the future, if and when they approve it. In short these special welfare like programs will not ever be using the market rate or the currency exchanges in these transactions.  Iraq can begin using these cards to payout on these special welfare like programs TOTALLY UNAFFECTED BY THE RV...It does allow continued payment to citizens residing offshore but yet avoids going international with their currency.   [post 2 of 2]
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home7

Iraqi Dinar/Dollar auction 19-5-15

Currency Auctions Announcement No. (2953 – the most recent listing)

This daily currency auction was held in the Central Bank of Iraq on the 19-May-2015

The results were as follows:

DETAILS NOTES
Number of banks 17
Number of remittance companies 4
Auction price selling dinar / US$ 1166
Auction price buying dinar / US$ —–
Amount sold at auction price (US$) 142,835,000
Amount purchased at Auction price (US$) —–
Total offers for buying (US$) 142,835,000
Total offers for selling (US$) —–

More: http://dinarupdates.com/blog/
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Bluedog - The White House  Office of the Press Secretary  For Immediate Release May 19, 2015:  Notice — Continuation of the National Emergency with Respect to Iraq.  NOTICE: CONTINUATION OF THE NATIONAL EMERGENCY WITH RESPECT TO THE STABILIZATION OF IRAQ.   “…the national emergency declared in Executive Order 13303, as modified in scope and relied upon for additional steps taken in Executive Order 13315 of August 28, 2003, Executive Order 13350 of July 29, 2004, Executive Order 13364 of November 29, 2004, Executive Order 13438 of July 17, 2007, and Executive Order 13668 of May 27, 2014, must continue in effect beyond May 22, 2015.“  …BARACK OBAMA.  ITS ALL GOOD IT PROTECTS A WHOLE LOT OF THINGS FOR ANOTHER YEAR…FOR ONE THING (INVESTORS). 
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Mnt Goat - …we see the resurfacing of the Mastercard contract with Iraq. I want to tell you this does not put any more pressure on Iraq to RV but is a good sign since it a progression in the plan to see the RV shortly.  …Mastercard had to make some software changes to accommodate Iraq’s special request to use their services for citizens using the cards for payments of…social programs when out of country.  Why did they have to do this? Because for these special welfare like programs Iraq will only be paying out certain amounts to the people.  [post 1 of 2....stay tuned]
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Adam Montana - 2. We’re still on the verge of major HCL movement. If we get immediate movement on those two things, or a couple of other key items, then we might see pressure on Parliament to break tradition and actually sing some high notes during Ramadan. The timing of everything is key right now. So to answer the rest of your question, YES it is possible to see major activity from Parliament, even during Ramadan. I always said it wasn’t likely in the past, but this year could be different, depending on how things go over the next couple weeks.   [post 2 of 2]
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Parliament held its session today to read a number of laws, including the National Guard

http://www.dinarupdates.com/showthread.php?15510-The-Dinar-Daily-Wednesday-May-20-2015&p=110868&viewfull=1#post110868
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Breitling - Twice a day I get these emails [You talk about Iraq and you talk about these articles well I've got a friend in Iraq and he says he doesn't see these articles or they are not talking about that…he's in the banking industry.]  It’s real simple…go to your local bank and ask them where the value of their money comes from…they have no clue.  I’m not saying their friend is an idiot but don’t ever assume, you’re looking for data not someone’s opinion, you’re looking for numbers, you’re looking for fact and sometimes you can ask a friend who will lead you to that and that’s fine…but “I have a friend in Iraq and he says that’s not what he’s reading”  What the hell’s that supposed to mean?  I live in the United States and I’m surrounded by people who have no clue how this all works.  Their own currency.  The economy.  Absolutely clueless.  You just need to confirm numbers and then compare.
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Adam Montana   [During Ramadan, does the Iraqi parliament meet at all or is it in recess until the end of Ramadan? If it is in session can they pass any legislation on things like the HCL?. And is it legal for the Bank of Iraq to RV during Ramadan?]  …you aren’t the only one that gets confused on their Parliamentary process!  I’ve always said in the past that nothing major happens during Ramadan…and I don’t have much reason right now to think that will change, BUT we have a couple of pending things. 1. The US is now moving in favor of adding more support to Iraq with the motive of defeating ISIS.  [post 1 of 2....stay tuned]
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Enorrste - I will add one more point:  the current deficit in Iraq is about 34% of GDP.  Our deficit in the US is 101% of GDP.  This alone proves that Iraq is not on the verge of bankruptcy.  Actually its deficit is about average for developing countries in relation to its GDP.  And, the GDP is growing at a rate of 9% per year, meaning that the deficit, as a percentage of GDP, will fall.  The US has run for two generations with deficits, and most recently with huge deficits.    Most countries run with deficits.  What makes Iraq any different?  Just because their revenue covered their expenses for the last 8 years doesn’t mean that “the sky is falling” because they fall short one, or even two or three years.  If Europe and America can run on deficits without a catastrophe, so can Iraq.  It is not the end of the world.  This is a minor setback only.  The bigger issue is the security problem.  If and when that gets solved, then the exchange rate regime can be changed and all of this deficit talk will disappear overnight.  Let’s keep focused on the real problem, namely security.  [post 2 of 2]
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Nouri al-Maliki (C) attends a ceremony honoring fighters of the group who died during their fight against the Islamic State, in Baghdad, Feb. 21, 2015.  (photo by REUTERS/Ahmed Saad)

Iraq’s missing money

Iraq is passing through a dangerous phase. There is a lot of waste and corruption and little transparency in state institutions. The security situation is deteriorating. And lately, there has been negative information about Iraqi officials responsible for the oil revenues during the last years. This has led to the dangerous situation that Iraq is [now] in…

Read More: http://dinarupdates.com/blog/

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Millionday - TODAY [TUESDAY]  IS THE DAY THAT THE “IMPORTANT LAWS” WERE TO BE VOTED ON – THE HCL IS TO BE ON THURSDAY ACCORDING TO REPORTS.
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Enorrste - Article quote:  “Iraq stands now on the brink of a deadly pit is the possibility of a storm economic disaster…”   Iraq is not on the verge of bankruptcy.  They have issues, but they also have options available to them. The reserves are among the highest in the world in relation to the money supply.  The GOI is in control of salaries, and can adjust them downward as necessary.  Oil production continues to grow. There are a lot of companies that are seriously looking into investing in Iraq in the short term (I did a google search and found plenty of them). Admittedly, there is no “quick fix.”  The situation is difficult, but hardly out of control.  Iraq is not going to “collapse”…It will weather the storm.  Remember, growth last year was at about 9%.  Just give these people some time and they will get the situation under control.  No panic is called for.   [post 1 of 2....stay tuned]
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Poppy3 - [Have you heard anything about the dong lately?]  THERE HAS BEEN TALK ON THE DONG AT THE WORLD BANK MARKET PROGRAM BUT NO DECISIONS HAVE BEEN DISCUSSED PUBLICLY AND I DOUBT THEY WILL BECAUSE IT IS ALREADY TRADEABLE AND RECOGNIZED GLOBALLY. THE DISCUSSION WAS THE EFFECT THEIR SUDDEN GROWTH IN ECONOMY WITHOUT A RATE CHANGE . WSJ [WALL STREET JOURNAL ?] OF COURSE STATED LAST FALL THEY HAD THE 5TH FASTEST GROWING ECONOMY IN THE WORLD.  THEY LIKE IRAQ CAN POP AT ANYTIME. I WILL REPORT ANY NEW NEWS THAT IS CONFIRMED.   [do u have any idea what are they sayin bout the rate...?]   ALWAYS HEARD THE SAME RATE…FROM 3 CENTS TO A NICKLE.
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Start of the parliamentary session, headed by al-Jubouri, and the presence of 182 deputies

Conscious / Baghdad / FS: House of Representatives held its regular day of the vote and the reading of a number of draft laws.

A reporter (and the Iraqi News Agency Information / INA) , that “the meeting was held under the chairmanship of Salim al-President of the Council and in the presence of 182 deputies.”…

Read More: http://dinarupdates.com/blog/
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Millionday - THE CENTRAL BANK GAVE OUT AN ORDER TO THE BANKS…THEY HAVE BEEN ORDERED TO APPLY INTERNATIONAL ACCOUNTING PROCESS.  SO WHAT WE HAVE…IS CBI TELLING ALL THE BANKS TO APPLY THE BEST THEY HAVE TO OFFER…SO, THAT THE SCALE CAN BE COMPLETED AND THE ABILITY AUDIT CAN BE COMPLETED.  THEY HAVE MANY TRAINED I HAVE BEEN TOLD AS WELL SO THIS IS THE ENDING OF THE BANKING REFORM FOR IRAQ…THAT THEY HAVE WORKED SO HARD ON…AND ITS INTERNATIONAL COMPLIANCE.
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Frank26 - Ramadan is a time when Muslim’s sacrifice. To seek monetary gain during that time would be considered sacrilegious.  But articles say “this is an age of expectation”  I think it’s an age of exception.  During Ramadan the Peshmerga army will still continue to fight  (which is normally not allowed)  because they are fighting to lift the value of their currency.  “So Frank you don’t think that they’ll increase their value before June 18th…before Ramadan?”  If they don’t do it before Ramadan they (GOI) won’t go anywhere.  For the 3rd year in a row now…the GOI didn’t go anywhere during Ramadan. Ramadan is not a target date…EID is more palatable for it. [FYI – the first day of Shawwal, i.e., EID ul-Fitr is July 17th]   Senator Kerry knows what’s going on and told Iraq that the USA will do anything… ANYTHING to support Iraq so that Iraq will raise the value of their currency.  This thing is coming … be excited about it!
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Frank26 - The lava flow is moving in the right direction. The evidence is abound. About 3 weeks ago, Dr. Abadi came to the USA and asked for help.  He needed troops, weapons, (protection for Dr. S) and money for Iraq.  The IMF and the World Bank loaned them some money to get through April.  They also needed some help to eliminate DAASH.  The US Senate gave O [Obama] the permission to send in troops months ago…(not sure why O delayed) but we’re coming SECURITY, SECURITY, SECURITY of Iraq is what is important.  So what is going on in Ramadi?  You need to understand…BAD NEWS (especially manufactured news) sells papers and advertising.  Ramadi did not fall. It was given to them to gain intelligence. Cities are being secured BEFORE Ramadan!   [post 1 of 2....stay tuned]
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Parliamentary Finance condone violations of central bank dollar auction sale

BAGHDAD / Baghdadi News / .. Stressed the parliamentary finance committee member Rustam Masood Haider, on Monday, that the Commission preferred to turn a blind eyesight irregularities central bank to cross the limit to sell the dollar auction sale currency.

Said Rustam in an interview with / Baghdadi News /, that “there is a legal text developed by the Finance Committee in Article 50 of the Budget Law stipulates the illegality of the bank to exceed the maximum sales of dollars in the (60) million,” explaining that “the Finance Committee preferred The overlook of the Central Bank exceeded sales of 100 million dollars a day for the first two reasons the government’s decision to wait in some of the wrong materials and the second that the central bank has the right of appeal against the said article. “…

Read More: http://dinarupdates.com/blog/
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Millionday - Article quotes:  “Parliamentary Finance Committee announced, Monday, that the central bank in connection with the strengthening of the dinar by printing large local financial currencies.”    “pointing out that” the past years there was a project to strengthen the dinar and repaired by deleting three zeros from the Iraqi currency but has been postponed.“   THIS SHOWS THAT THEY ACTUALLY PLANNED ON MOVING FORWARD YEARS AGO OR AT LEAST SOONER.  HE DECISION THEY HAVE MADE IS TO MAKE THE DINAR RELATIVE TO THE DOLLAR — RELATIVE IN MEANING LIKE.  I DONT THINK IT IS A COMMENT THAT GIVES THE VALUE — BUT GIVES THE CITIZEN SOME UNDERSTANDING.
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tman23 - Back in late January Abadi asked for the citizens to be patient until June…And just less than 20 days ago he announced that starting July Iraq will be able to make all payments in full and on time… If they are going to open the books without zeros starting the second part for the financial semester…JULY…Then they must have a lead way into that event…meaning a time period to initiate.  Sure it can happen anytime…just as anything can happen at anytime…But personally I expect the show to begin 6/14.  If they open July with 3 zeros accounting…WE ARE ALL WRONG…But I don’t see the Kurds and their economy waiting on Baghdad another 6 months. The Kurds just seen Ramadi fall because of lack of response from Baghdad…and Baghdad was warned 2 weeks in advance of what was needed… End of June…END OF THE ROAD!!
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Millionday - [in your view, whats the hold up for this thing to pop?]   I THINK THEY ARE WORKING ON THE LAST OF THE LAWS TO HAVE EVERYTHING IN PLACE – I DONT KNOW THE DATE AND DONT KNOW THAT IT IS BEING HELD UP BUT AS JOE P SAID YEARS AGO — MAYBE IT IS RIGHT ON TIME – THE INVESTMENT LAWS ARE COMING ALONG GREAT AS REPORTED AND THE HCL AND THE FEDERAL COURT ACT AND THE OTHER “IMPORTANT” LAWS ARE TO BE DONE TOMORROW [TUESDAY] – SO CROSS YOUR FINGERS.  [...why would they shelf the National Guard law?]  THEY HAD SOME DIFFERENCES BY WHAT I READ IN THE LEADERS AND HAVE COME TO AN AGREEMENT – IT IS EXPECTED TO BE ON THE AGENDA TOMORROW [TUESDAY] TOO SO WE WILL SEE WHAT COMES OF IT.
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Deputy: Parliament vote in its session next Monday to dismiss the Liberation of Iraq

http://www.dinarupdates.com/showthread.php?15510-The-Dinar-Daily-Wednesday-May-20-2015&p=110866&viewfull=1#post110866

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Poppy3 - [according to bank of america exchange Kuwait rate is $3.82 so if iraq and kuwait share the same oil fields why would they come out less?]    ACCORDING TO DR SHABIBI WHEN THEY RV THERE CAN’T BE MUCH DISPARITY BETWEEN THE RATES BECAUSE IT WOULD CAUSE IMBALANCE ON OIL TRADE ON THE OIL FROM THOSE SHARED OIL FIELDS.  
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Enorrste - Think about what happened over the weekend.  Ramadi falls.  …ISIS is a serious concern.  You are mistaken that they control 1/3 of the country.  It isn’t nearly that large.  Still, the loss of Ramadi is significant…  Is this a good time for the CBI to MOVE FORWARD or, instead, a good time to buckle down and keep the ship afloat?  It really is just that simple, folks.  I am not “throwing in the towel.”  Not at all.  There is a process involved here, and it must work its way out.  I noted, for instance, that the major “accountant” for ISIS was captured or killed today in Syria.  In addition, a number of computers were retrieved as well as cabinets full of documents.  ISIS funding will dry up shortly, in my view.  Thus, it would not surprise me to see the tide turn, possibly dramatically, in the near future.   [post 3 of 3]
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wmawhite - Everything about this is OUTSIDE of Iraq…the revaluation is to other currencies outside of Iraq…Ramadi doesn’t affect the IQD outside of Iraq.
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Abadi, head to Russia tomorrow

BAGHDAD / Center Brief for the Iraqi Media Network (IMN) - An official source said that the Prime Minister Haider al-Abadi on Wednesday will travel to Russia to discuss armament file.

The source told (IMN) said that “al-Abadi will chair the high-level delegation to Russia tomorrow includes both internal and Ghabban Minister Mohammed Baqir Jabr, transport, culture and National Security Adviser Faleh al-Fayad.”

He added that “to supply Iraq with weapons and training of armed forces file, would top the priority of the talks to be conducted by Prime Minister General Commander of the Armed Forces Haider al-Abadi during the upcoming official visit to Russia.”

He pointed out that “the agenda of the visit includes a meeting with Russian President Abadi Vladimir Putin”, noting that “the visit will last for two days and come upon an official invitation from the Russian president.”

http://www.dinarupdates.com/showthread.php?15506-The-Dinar-Daily-Tuesday-May-19-2015&p=110668&viewfull=1#post110668
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Enorrste - Now we see this “unprecedented” move of lending money to banks…for INVESTMENT purposes.  Furthermore, $5 billion in investment will go a long way toward jump starting the small and medium businesses in Iraq.  What could be bad about that?  Nothing! Who would better know what is needed than the CBI?    …it is important to realize that this is an international event, and a nation that isn’t stupid, as some might believe.  These people may act differently and on a different time frame than we do, but they aren’t stupid.  These people not only are seasoned, in most cases, but they also have the backing of the IMF and WB.  They don’t do things in a vacuum.   I also think that it is a good decision, even if unprecedented.  They aren’t risking the whole pie…They are just trying to jumpstart some needed economic growth. Give this time.  That is one thing that Iraq is very good at exploiting. [post 2 of 3....stay tuned]
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Kaperoni - Article:  “Iraqi Central Bank lends banks $ 5 billion at the request of Parliament“  Quote:   “Central Bank of Iraq has decided for the first time in its history, opening its vaults, and start lending sector and civil government banks the amount of $ 5 billion.”   The reality is that the banking sector came to Iraq in hopes of participating in the investment and reconstruction of Iraq. And the GOI, parliament and ISIL have stalled progress to the point that now the banking system is failing. We all knew this…we all saw it. You can only sell dollars at auction for commission for so long…and selling cars out back is not really banking business either. So the CBI is in a predicament…they are going to bail banks out using reserves to save the weak financial system. Certainly not a way to show the world you are ready for investors. Not a good solution any way you look at it.
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Enorrste - Article:  “Iraqi Central Bank lends banks $ 5 billion at the request of Parliament”  Quote:  “Central Bank of Iraq has decided for the first time in its history, opening its vaults, and start lending sector and civil government banks the amount of $ 5 billion.”   The plan has existed since 2007 and is still intact.  Blips have occurred along the way numerous times.  Saleh was arrested; Shabibi had to leave the country; Maliki was a serious setback; Turki was a fool.  In addition to that, Iraq moves at a snail’s pace.  HOWEVER, and this is very important, the long view is very solid.  The CBI is clearly on record with a GOAL that is consistent with the character of the country.  No small “blip” is going to change that, and no single event is going to change the “plan”.   We saw [some] freak out with the announcement of the introduction of the larger notes (50 and 100k) only to find out that Saleh had talked about it 4 years ago, AS PART OF THE PLAN!   [post 1 of 3....stay tuned]
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CURRENCY CODE SELL BUY

US dollar USD 1166.000 1164.000

CURRENCY CODE SELL BUY
US dollar USD 1166.000 1164.000
Euro EUR 1327.957 1327.293
British pound GBP 1828.754 1827.840
Canadian dollar CAD —– ——
Swiss franc CHF 1270.845 1270.209
Swedish krona SEK 141.739 141.668
Norwegian krone NOK 158.439 158.360
Danish krone DKK 177.915 177.826
Japanese yen JPY 9.746 9.741
Special
Drawing Rights
SDR 1653.540 1652.713

Indicative rates – 19.05.2015

http://www.cbi.iq/

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wmawhite - [Do you think the rate could show on a bank screen before showing on CBI?]  No, because any value will first be provided by the CBI.  [i would like to know, why usa is so difficult to get real banker to submit info?]  If the bankers in the USA told the truth about the IQD they would not have any employees the day after the RV.
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Millionday - [i do not understand who is holding this up?]  NOTHING SAYS THERE IS A HOLD UP — A PLAN THIS SIZE WOULD COME WITH A DATE IMO — AND WHAT IT IS WOULD BE THE QUESTION — AND CBI WOULD HAVE THE ANSWER — I DONT SEE A HOLD UP BUT DO SEE A LOT OF ACTION GOING ON.  THEY ARE CONTROLLING THE IQD IN IRAQ AS IT IS PART OF THE INTERNATIONAL EQUATION AND THEY ARE REMOVING AS MUCH AS POSSIBLE OF THE US DOLLAR SO THAT THE SUPPLY OF THE DINAR IS MUCH MORE THAN THE US DOLLAR FOR THE MONETARY POLICY AND ECONOMIC REFORM – THE RESERVE AND SDR AND INTERNATIONAL ACCOUNTING COMPLIANCE HAS BEEN ORDERED – BUT THAT IS JUST MY OPINION.
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Mountainman - The MONETARY REFORM and ALL EVIDENCE is moving Forward! Everything Else contradicting these Facts are Cow Patties IMO.  Do people really think that The Globe did not anticipate a Fight to the End of this MR…and then some? Of Course they did…Most of the so called MEDIA doesn’t have ALL the facts for a Reason…it’s Called Conditioning the Minds of the Masses!!!  Remember Tikrit and Kirkuk…Weeks ago same Cow Patties from the same MEDIA...then BAM, Bam, Bam…Technology, Intel on the Ground, BOTG [BOOTS ON THE GROUND]…Now being Noted at “The END”!!!  RAMADAN is Coming and this Country will be VICTORIOUS, UNITED, and PROSPEROUS!!!
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Printed work to strengthen Iraqi dinar

طبع عملة كبيرة لتقوية الدينار العراقي

The parliamentary Finance Committee, announced Monday that the Central Bank in connection with the strengthening of the dinar by printing large domestic financial currencies. The Committee Member said Majida Al-Tamimi “, that” the reasons for the weakness of the Iraqi dinar against the dollar due to the size of the money supply and the big price difference “, noting that” the past years there was a project to strengthen and reform the dinar by deleting three zeros of the Iraqi currency but has been postponed. ” “The project is not feasible at this time because of the economic situation and the political and security situation of the country, what gives the possibility to achieve negative things reflected on the financial and economic situation.” And Tamimi confirmed that “the most appropriate solutions to strengthen the dinar is through the printed local currencies as the categories (50,000-100,000), which can bring the money supply and make it close on the dollar”.

Read More: http://dinarupdates.com/blog/

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wmawhite - [many of the things they are working on has been going on for years i know this is a huge process but it could still take much more time right?]  If it was going to take much more time why continue to push forward with all of the reforms. Why not wait? IMO, the CBI, GOI, Parliament, WB, IMF are pushing because the CBI wants to do this now…IMO.
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BGG - [I asked why the 250 notes are going for 2800 per mil and the 25k notes are going for 1050 per mil. With the way the 50s were brought in without a rate change, you would logically think the lower notes wouldnt be more valuable, at least not almost 3 times more, than the 25k notes?]  supply and demand. Some investors want to buy and hold them for “post-shift”…AKA – RV, Value change, etc, etc. - the dealers know this so they can get a premium right now…which should be a dead giveaway as to where this thing is headed.
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Backdoc - JUST LIKE EVERYONE WANTING TO GET INTO IRAQ FROM MIDDLE EAST COUNTRIES, WE SEE THE SAME PROCESS OCCURRING IN VIETNAM!  WHY?  BECAUSE IN BOTH CASES THESE COUNTRIES KNOW WHAT IS COMING AND THE “BING, BAMM, BOOM” THAT IS ABOUT TO HAPPEN IS GOING TO RAISE ALL SHIPS FLOATING IN THOSE TWO REGIONS!! THEREFORE, EVERYONE WANTS IN WHILE THE GETTING IS GOOD!
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Abadi adviser: praises the policy of the Central Bank and supports the deletion of zeros at the country’s stability conditions

Abadi adviser: praises the policy of the Central Bank and supports the deletion of zeros at the country's stability conditions

BAGHDAD / Baghdadi News / … According to the appearance of Mohammed Saleh, an economic advisor to the Prime Minister Haider al-Abadi, on Monday, about a quarter of Iraq’s budget disbursement to support military operations against the terrorist organization Daash.

Saleh said in an interview with / Baghdadi News / “The government’s priority today is to return in safety usurped areas and to maintain the security in the relatively stable and unstable regions”…

Read More: http://dinarupdates.com/blog/
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Jester - THE BEST CONTACTS I HAVE SAY IT WILL BE A BIT OF TIME… AND I HAVE HEARD TIME FRAMES FROM MID SUMMER TO EARLY FALL…THE ONES SAYING SOONER HAVE NOT BEEN RIGHT YET AND THE ONES SAYING LATER HAVE… SO I AM BASING A LARGE PERCENTAGE OF THAT COMMENT ON THAT FACT.
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wmawhite - [It just seems with SO MUCH that is happening, they HAVE TO make the move to take the next step forward.]  you are correct…they do. [Just way way way to many agreements have been stated then we have EVER seen in so many years...why all these agreements?]   you are correct…remember all of those trade agreements Iraq inked over the past year? Those are the countries that will help in supporting the new value of the IQD.   [post 2 of 2]
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Millionday - [What indicator removes the rate that was thrust upon IRAQ.]   CBI IS INDEPENDENT AND HAS THE JOB OF RELEASING THE EXCHANGE RATES...CBI SAID WHEN THE TIME IS RIGHT THEY WILL RAISE THE VALUE OF THE DINAR AND RELEASE THE INTERNATIONAL RATES.  IT WAS IN A REPORT WHEN THEY STATED WITH THE BANKS THAT THEY WERE READY TO MOVE FORWARD WITH THE MONETARY POLICY AND ECONOMIC REFORM/BANKING REFORM — IT WAS MONTHS AGO.
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home7

Iraqi Dinar/Dollar auction 17-5-15

Currency Auctions Announcement No. (2951 – the most recent listing)

This daily currency auction was held in the Central Bank of Iraq on the 17-May-2015

The results were as follows:

DETAILS NOTES
Number of banks 15
Number of remittance companies 3
Auction price selling dinar / US$ 1166
Auction price buying dinar / US$ —–
Amount sold at auction price (US$) 149,182,000
Amount purchased at Auction price (US$) —–
Total offers for buying (US$) 149,182,000
Total offers for selling (US$) —–

More: http://dinarupdates.com/blog/
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wmawhite - …the CBI has told us that the note count has continued to be reduced. And why reduce the note count? It is like any other commodity on the market…when there is less of something that is needed by the consumer…it becomes more valuable.   It is easy to confuse subjects:  currency on the street with the eventual increase in the value of the IQD outside of Iraq.   …when we see articles about the currency, amount of currency, with zeros, without zeros…this is about what notes the citizens will have in hand. They are not speaking about the international exchange rate of the IQD.  However, those subjects are influenced by the eventual increase in the value of the IQD…for example, how does a IQD notes become more value to a citizen in Baghdad? Not just because someone says it is…instead, by it buying more. And how does that happen? By it becoming more value outside of Iraq…where the Iraqis purchase 90% of their goods.  [post 1 of 2....stay tuned]
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Mnt Goat - Some say it will never reach a June timeframe. Really? They are now slowing changing their tune as we get closer to June.  NO SECURITY, NO NEEDED LAWS = NO RV!   LAWS are needed to fully implement their constitution and Reconciliation Reforms, a full requirement by the USA prior to any RV.  SECURITY so investors can flock into Iraq. Remember they are trying to establish a capitalistic democracy and not just a democracy. This capitalistic democracy machine, a combination of democracy and capitalism, takes on a new face as it gets turning and running…once it is moving the cash flows are amazing and all can benefit… The revaluation of their currency is just the aftermath of the process and many want to put the cart before the horse. Can’t be done! So we will just have to wait and watch while all the pieces are in place. Soon the engines will be running  and Iraq will begin to run on full throttle. Then they will RV their currency somewhere in this process but we can only try now to predict when. The optimistic side is this is very nearly all done.
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Millionday - Article quote:  “Rafidain Bank announced the issuance of a smart card for displaced families in all provinces of the country…“  UNDERSTAND THAT THE CARD IS A MASTER CARD WITH ALL OF THE BENEFITS THAT ARE GIVEN GLOBALLY — IT IS MASTERCARD — IF YOU LOSE YOUR CARD IN SOME OTHER COUNTRY — THEY HELP — IF YOU GET PAID WHILE OUT OF COUNTRY — IT IS THERE — THIS IS MASTERCARD — AND BACKED BY MASTERCARD — GREAT GREAT NEWS. [So does this mean that the currency of Iraq is going to be internationally recognized? And what about the program rate. What is going to move/lift the program rate?]  THE USE OF THE MASTERCARD OUTSIDE OF IRAQ WILL HAVE TO MEAN THAT THEY ARE INTERNATIONALLY RECOGNIZED LOGICALLY – BUT WE ALSO HAVE AN INTERNATIONAL COMPLIANCE ORDER BY CBI — SO THIS MAY BE COMING AND NOT HERE YET – WE WILL WAIT FOR INK AND MAKE NO GUESSES.
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Check out the Dinar Corp 120+Max – it’s EQUITY!!

Commercial Solicitation

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tman23 - Today’s News / sent the Ministry of State for Parliamentary Affairs and the provinces a new uncles to local governments spend close all satellite and local television and radio stations the government. ………”the decision to cancel was based on austerity policy launched by Prime Minister Haider al-Abadi in conjunction with the economic crisis caused by low oil prices.” ……….   I posted at closing last night that this contact told me that things on money are being sent by message of the cell phone and included “inform your neighbor”…….. Some would say this news shut down is due to ISIS etc…….But I will add this…….. Kurd news reported daily on economy and showed IQD pictures in volume……This ended about 10 days ago…
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Backdoc - WHAT I FIND INTERESTING IS THAT IRAQ USED CURRENCY AUCTIONS TO REDUCE ITS’ NOTE COUNT BY SELLING DOLLARS AND PULLING IN DINARS. THEY WOULD SIMPLY DESTROY THEM OVER TIME TO REDUCE THE NOTE COUNT.   AND NOW WE SEE OZ BEHIND THE CURTAIN USING CONTRACTS FROM COUNTRY TO COUNTRY TO REPAIR THE DINAR BEHIND THE CURTAIN. SOON IT WILL BE RE-INTRODUCED TO ITS’ “FORMER GLORY” BUT THE VND HAD TO USE A DIFFERENT STRATEGY.  I BELIEVE WHAT THEY DID TO REDUCE THE NOTE COUNT IS EXACTLY WHAT IRAQ IS DOING NOW, USING CONTRACTS!  BRILLIANT, RIGHT IN PLAIN SIGHT. WHY ELSE WOULD 80% OF THEIR DEBT BE IN DOLLARS? I THINK AN ASIAN SURPRISE IS IN THE MAKING RIGHT BEFORE OUR EYES!  [post 2 of 2]

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wmawhite - It is easy to confuse subjects:………currency on the street with the eventual increase in the value of the IQD outside of Iraq. Folks,…..when we see articles about the currency, amount of currency, with zeros, without zeros……this is about what notes the citizens will have in hand. They are not speaking about the international exchange rate of the IQD.

However………those subjects are influenced by the eventual increase in the value of the IQD………….for example, how does a IQD notes become more value to a citizens in Baghdad? Not just because someone says it is………instead, by it buyiong more. How does that happen? By it becoming more value outside of Iraq……where the Iraqis purchase 90% of their goods.
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IMF: Iraq began to withdraw from its reserves

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BAGHDAD / News Network Iraq announced the director of the Middle East and Central Asia Department at the International Monetary Fund Masood Ahmed, Sunday, that Iraq’s request for financial assistance from the Fund, and as he emphasized that an agreement may be a loan of about $ 800 million in a matter of weeks, pointed out that Iraq He began to withdraw from Ahtaatyate.oukal Ahmed told the “Reuters”, that “Iraq’s request for financial assistance from the Fund,” noting that “the competent committees in this regard will work in the coming weeks, we hope to reach an agreement relatively soon.”…

Read More: http://dinarupdates.com/blog/
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Backdoc - VIETNAM BANKS ARE AMONG THE LARGEST COMPANIES IN THE WORLD IN RESERVES AND POWER.  THE BANKS THERE HAVE CAREFULLY SHIFTED 80% OF STATE DEBT INTO DOLLAR DENOMINATED INSTRUMENTS. THIS IS MORE THAN HUGE! THIS IS AMAZING! THEY DID THIS HIDING IN PLAIN SIGHT!  JUST RECENTLY VIETCOMBANK BOUGHT1 BILLION IN FOREIGN BONDS IN A DEAL CALLED “CLEVER”! IT APPEARS AS THEY SAY THEY ARE PREPARING THEIR FOREIGN RESERVES IN SUCH A WAY AS TO PROTECT THEM FROM A “SHOCK”  FROM THE DONG HAVING A SHARP APPRECIATION. THESE BANKS HAVE BEEN ENCOURAGING FOREIGN INVESTMENT TO BOOST THEIR RESERVES WHILE CONSOLIDATING DEBT IN DOLLARS AND DESTROYING THEIR NOTE COUNT IMO!   [post 1 of 2....stay tuned]
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Enorrste - In no way does this threaten our investment, since the change has already taken place More to the point, the “plan” as we know it is continuing forward in the face of this change from 1166 to 1305.  Finally, I do not expect the official rate to change.  This is an ameliatorive move on the part of the CBI to temporarily reduce imports and lower the deficit somewhat.  The point to be made here, then, is that the introduction of the larger 50000 and 100000 dinar notes will still move ahead, thus reducing the paper in circulation by up to 75%, then the float will be instituted and the dinar value will rise.  [post 2 of 2]
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tman23 - They need the INVESTMENT LAW……..and one article said Parliment to vote the 19th, another said lifted until the 25th……. anyways with Investors on the sidelines…..you don’t take the money and then introduce the NEW RULES…….. They have rerouted this law with a purpose…..
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Sunday Afternoon Dinar Call!!

w/Live Q & A – from 5/17

Click on the call banner in the upper right corner!!

Smart phone user link – Click here

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Enorrste - Article quote:  “…the central bank has taken several measures to reduce the federal budget for the 2015 deficit, which exceeded the rate of more than 40%, including reducing the dinar exchange rate against the dollar, noting during their talk Agency / JD / that the reduction rate of the dinar against the dollar is a cure, but over because it will raise the rates of inflation and reduces the strength of the local currency, while the dollar swung the price will stabilize at 1300 dinars in the coming period.“  The article is very clear in that the reduction in the value of the dinar has already occurred, since the rate now…is 1305.  The CBI has stated that it will stabilize at 1300, so we may expect them to begin procedures to do just that.  [post 1 of 2....stay tuned]
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tlm724 - Article:  “The Central Bank revealed higher cash reserve in May and is expected to continue”  reserves just keep growing   Wink…loving that, now bring on the value to match that wealth!
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BGG - I don’t know that I agree with the Investment Law as directly required for a shift in the value of the IQD… However, I will say – it is HIGHLY likely needed to attract outside investment… which is required to support economic reform and also a key component to support such an increase in value…they all need to happen “roughly”  around the same timehours? days? weeks? IDK – but these issues are related.
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CURRENCY CODE SELL BUY

US dollar USD 1166.000 1164.000

CURRENCY CODE SELL BUY
US dollar USD 1166.000 1164.000
Euro EUR 1310.467 1309.812
British pound GBP 1827.355 1826.442
Canadian dollar CAD 972.720 972.234
Swiss franc CHF 1262.588 1261.957
Swedish krona SEK 141.067 140.996
Norwegian krone NOK 156.110 156.032
Danish krone DKK 175.594 175.507
Japanese yen JPY 9.700 9.696
Special
Drawing Rights
SDR 1645.086 1644.264

Indicative rates – 16.05.2015

http://www.cbi.iq/

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Millionday - Article quote:  “Will be launched a smart card in the branches of the Rafidain Bank in the Arab countries and the first batch will be spent during the current month for them …“   SMILE — CAN YOU TELL WHY THAT IS MY FAVORITE? THEY ARE LAUNCHED BUT IT CAREFULLY DOES NOT SAY ACTIVATED BUT THE BANK SAYS THIS MONTH.  [Dinar or American dollar?]   THE NATIONAL REGULATIONS THAT WERE SET A LONG TIME AGO WERE THAT THE NATIONAL CURRENCY OF IRAQ IS THE IRAQI DINAR.  THEY HAVE NO GOAL TO MAKE THE DEMAND FOR THE US DOLLAR TO RAISE AND HAVE MORE VALUE – THEY REALLY ARE MOST INTERESTED IN THEIR OWN GAINS AND VALUE.
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Kaperoni - Article:  “Rafidain Bank launches MasterCard service for the disbursement of pensions out of the country“   This proves that they do not need to be in Article VIII for international convertibility.  The dinar is convertible now.  The issue is that the CBI is not IMF Article VIII compliant so any bank or merchant who chooses to do business with them, takes on the potential risk.  Clearly the CBI has made an agreement with the card merchant, banks to ensure these transactions are processed. 
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Backdoc - Article:  ”Vietnam, Russia to finalize currency deal this year“  Quote:  “Vietnam and Russia look set to complete procedures for firms of the two nations to settle payments in their domestic currencies this year“  WOW! NOW THAT’S A SHOT IN THE ARM FOR THE VND CURRENCY VELOCITY.   I LIKE THAT PART, “SETTLING PAYMENTS IN THEIR RESPECTIVE CURRENCIES“!  WITH A GDP RISING OVER 6%, MOVE OVER ASIA THERE’S A NEW KID IN TOWN AND IF YOUR NOT CAREFUL HE WILL EAT YOUR LUNCH! Article:  “Brazil wishes to expand partnership with Vietnam“  THERE SEEMS TO BE NO END TO THE COUNTRIES STEPPING UP TO DO BUSINESS WITH THIS NEW ASIAN POWERHOUSE! 
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wmawhite - Currency reform is underway, the Governor of the CBI said so on 3 March 2015…and again a week later.  It is happening…but we don’t know what it is. When we get four articles about the same subject and each gives a different story or intent, then we are missing something…we are getting translations and the true context/intent is lost.
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tman23 - …Barzani, the Kurd Region, the ESX, and the corporate investors on the sideline…NO 3 ZEROS…END OF THE ROAD is quickly approaching… Fasten your seatbelts and prepare for Launch or Impact!
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Millionday - Article quotes:  “Rafidain Bank announced on Saturday the launch of MasterCard exchange service for the salaries of retirees who are outside the country.“  THEY HAVE ANNOUNCED THE LAUNCH AND THIS IS FOR OUT OF IRAQ AND WITHIN IRAQ — TO BE USED IN ATMS.  [What about a rate?]   THE REPORT TELLS US THAT IF THE PERSON THAT HOLDS THE MASTER CARD GOES TO THE ATM – THEY WILL RECEIVE THE AMOUNT OF THE COUNTRY THEY ARE IN SO IT WILL BE WHATEVER THE EQUAL AMOUNT IS.  [any timeframe yet on activation?]  THE BANK HAS STATED THEY HAVE LAUNCHED THE MASTERCARDS SO WHEN THEY ARE ACTIVE HAS NOT BEEN STATED OR IT COULD MEAN THE SAME.
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home7

Iraqi Dinar/Dollar auction 5-12-15

Currency Auctions Announcement No. (2950 – the most recent listing)

This daily currency auction was held in the Central Bank of Iraq on the 12-May-2015

The results were as follows:

DETAILS NOTES
Number of banks 18
Number of remittance companies 4
Auction price selling dinar / US$ 1166
Auction price buying dinar / US$ —–
Amount sold at auction price (US$) 154,832,843
Amount purchased at Auction price (US$) —–
Total offers for buying (US$) 154,832,843
Total offers for selling (US$) —–

Read More: http://dinarupdates.com/blog/
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Backdoc - IRAQ SPENT HOW MANY YEARS DOING CURRENCY AUCTIONS? MMMM  MANY!!  AND THE PURPOSE WAS TO DECREASE THE NOTE COUNT RIGHT? RIGHT!  SO IF IRAQ WANTED TO INCREASE THE NOTE COUNT AND DESTROY ALL THE WORK THEY HAVE DONE FOR THE PAST NUMBER OF YEARS THEN WHY NOT OPEN THE BUDGET PUBLICLY AND PAY BILLS AT THAT LOWER RATE?  BECAUSE IT HAS ALWAYS BEEN THE PLAN TO RESTORE THE DINAR TO ITS’ “FORMER GLORY“.
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wmawhite - There is a lot of movement that is centered around monetary reform that all leads back to the status of the IQD changing. Yes,…….we see no change in the rate yet………however, if an Iraq can go to an ATM at the newly reopened Rafidain bank in London, UK and receive Great British Pound in exchange for his account that is in IQD,….then something significant has happened.
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Poppy3 - …AS POPPY3 HAS SAID MANY TIMES AND CHRISTINE LAGUARD HERSELF ANNOUNCED THERE IS NO MORE…NEVER HAS BEEN ANY SUCH THING AS A PLAN CALLED GCR…GLOBAL CURRENCY RESET.  ANYONE TELLS YOU ANY REASON FOR DELAY FOR THE RV BECAUSE THE GCR ISNT READY HAS ZERO INFORMATION WORTHY OF YOU WASTING YOUR TIME TO LISTEN TO. NEXT…ANOTHER MYTH THAT THE PRICE OF OIL DROPPING STOPPED THE RV…THEY HAVE KNOWN THE PRICE WOULD FALL WHEN THEY WENT BACK GLOBAL WITH THEIR OIL.  PROVEN FACT BECAUSE THE MARKET WILL BE FLOODED PRICE ALWAYS FALLS.  PLUS REMEMBER WHEN THEIR RATE WAS $3.22 BEFORE THE WAR…OIL WAS ONLY $31.00 A BARREL…HALF WHAT IT IS TODAY….OUR MONEY IS COMING…GET YOURSELF PREPARED.
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Rafidain Bank launches MasterCard service for the disbursement of pensions outside Iraq

Shafaq News / Rafidain Bank announced on Saturday, launching MasterCard service for retirees who are abroad through its branches located there.

The general director of the bank , Basem Kamal al-Hassani said in a statement received by “Shafaq News”, that retirees who are outside Iraq can received their salaries now through this service.”

He noted that a retiree has the right to go to any ATM to receive the same amount and currency of the country , where he, she lives.

Read More: http://dinarupdates.com/blog/
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wmawhite - [HOW CAN THE CBI ADVANCE WITH THE DINAR? ISIS HAS TAKEN OVER ANOTHER MAJOR CITY?]   Let me ask…is the re pricing of the IQD inside of Iraq or is it outside of Iraq…it is internationally…not in Mosul, not in Ramadi…outside.  This is an international financial electronic event.   …some of you do not understand what the purpose is for a country to increase or decrease its international value of its currency. It has so little to do with what is happening on its streets.   Instead, it gets a country greater leverage when buying or selling outside its borders.   IMO the re pricing of the IQD will take place long before the flood gates open to the world of investors. The IQD will have a new value before they arrive…
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Mailman17 - THE CBI CLEARLY STATED TO ALL BANKS UNDER THEM…ALL BANKS, THAT WHEN PEOPLE CAME IN TO EXCHANGE, THAT THEY ARE INSTRUCTED TO TELL THEM TO OPEN ACCOUNTS DEPENDING ON HOW MUCH THEY BROUGHT IN AND TO GIVE THEM WALKING AROUND MONEY IF NEEDED…MY GUESS AT A 1-1 WOULD BE 1000 DINAR AND UNDER. THE 3 ZEROED NOTES ALSO PLAY INTO THAT SCENARIO AS WELL, BUT WITH VERY LITTLE ON THE STREETS. CANT BE SURE WHAT SET OF BOOKS YOU WANT TO GO BY REGARDING IRAQS M2 AS THEY HAVE BEEN CAUGHT WITH 2 SETS IN THE PAST, BUT I SEE THEIR M2 MANAGEABLE AFTER A 1-1. WITH NOTE COUNT SEVERED DRASTICALLY, AS Q-CARDS AND DEBIT CARDS WILL FALL INTO PLACE. THIS IS ALL PART OF THE MONETARY REFORM. NOW, IMO..IF THEY DO NOT CHANGE THE RATE BY THE TIME THEY OPEN THE ISX TO TRADING AND THE BONDS BEING SOLD, YOU WILL SEE A DELAY IN THOSE 2 ENTITIES AS IT WILL KILL IRAQ TO OPEN EITHER ONE AT 1166…AS ALWAYS…JMO.
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wmawhite - the Ministry of Transport awarded approve the creation of a single airport, is the Middle Euphrates Airport“.   It should be noted that the Middle Euphrates Airport needs $ 450 million to start is the infrastructure for it.“  This is where the Investment side of the budget comes into play…this is where the new value of the IQD is important.  There is not enough IQD in the solar system to pay for the this airport…at 1166.
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Parliament and Finance Cmte Support “Revalue” (sic) of Iraqi Dinar

June 27, 2012 in Banking & Finance

The Iraqi Parliament and the Finance Committee support the Central Bank of Iraq (CBI)’s efforts to revalue of the Iraqi Dinar through the removal of three zeros from the currency, according to a report from AKnews.

The CBI has announced that it has finalized plans to remove three zeros from the Iraqi currency in order to revalue it. The smallest unit of the current Iraqi current is 250 Iraqi Dinars which is equivalent to $0.20…

Read More: http://dinarupdates.com/blog/
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Millionday - I WANT TO GO OVER WHERE WE ARE BY WHAT WE HAVE SEEN:  THE VISIT TO IRAN SHOULD BE COMPLETE WHICH MEAN THE RECONCILIATION CONFERENCE — TUESDAY SHOULD SHOW US THE FEDERAL COURT ACT — THE INVESTMENT LAW IS REFERRED TO AS DONE AND BEING APPLIED — WE HAVE THE HCL AT MINISTERS AND MAY BE ALREADY MOVED TO LAW COMPLETION — THE AMENDMENTS ARE DONE –  THEY ARE READY TO ENTER THE GLOBE AND AT ANYTIME THEY WILL BE MOVING FORWARD TO PAY FOR SO MUCH THAT HAS TAKEN PLACE.
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Breitling - Let’s talk about the 50k and the 100K note.   Here’s the reality…this was talked about 3 or 4 years ago so much.   Back in those days they hadn’t started getting rid of the notes out of the market yet.  So if they came out with a 50K note that would have meant they were ADDING note to the market and it wasn’t going to revalue if they added those note but NOW they are getting rid of the notes.   What is different now?  The articles are saying they are being used in conjunction to reduce the note count itself.   They are reducing the note count but the pace is completely different.   Will it put a ceiling on what you and I can make?  Yes it will…what is that ceiling?  I don’t know.  [Post 2 of 2]
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Kaperoni - Article:  “Parliamentary Finance: Print new monetary categories in preparation for the deletion of zeros from currency”   Quote:  ”the new denominations to be printed will be of category 50 100 thousand Iraqi dinars.”   Until it happens and its discussed on TV for the citizens I question it.  Even though it might reduce the physical paper, it makes little sense.  If citizens don’t use banks and keep dinar in their mattresses, all that will happen is they will trade a few 25k notes for these new 50k and back to the mattress they go. The end result will be even bigger problems once they start to raise the value.  IMO, the best solution is to reduce the paper and the money supply through the liberalization of the foreign exchange…Once they have the majority of the 3 zero notes off the street, they can switch exchange regimes and start to raise the dinar.  Simple and effective.
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Gold at its highest level in three months

Information / follow-up / .. gold traded near its highest level in three months during Asian trading on Friday, heading for its biggest weekly increase in four months with receding expectations for an increase close in US interest rates…

Read More: http://dinarupdates.com/blog/
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Breitling - There is NO reason for them [Iraq] to take notes off the market if Iraq doesn’t think it’s at a pace themselves.  They are taking away notes from their economy.  It points to only 1 direction…There is NO reason to do it if they don’t think the economy is going to make a leap forward eventually and that’s the pace and that’s how you know.  So what are the numbers you should be watching?  The currency of the country is going to give you the clue.   Iraq is taking notes from the market…that is an indicator.  They are going to add value…it’s that simple.  [Post 1 of 2 Stay tuned]
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Mailman17 - WHEN IRAQ FIRST INTRODUCED THE NEW NOTES BACK IN 2003 THEY HAD 3 CATEGORIES OF COINS. 25, 50 AND 100. IF MEMORY SERVES ME THEY HAD A MAJOR THEFT OF THE 50, AND CUT THAT COIN PERIOD, OUT OF EXISTENCE, AND NOT MENTIONED IN THE LIST OF ACTUAL CURRENCY EITHER IN CIRCULATION OR NOT. LEAVING THE 25 AND 100 ON THE BOOKS BUT NOT IN CIRCULATION. BUT…THE MONEY ALLOCATED TO BACK THOSE 3 COINS AND THEIR VALUE… REPEAT…AND THEIR VALUE…WAS LEFT INTACT. DO NOT CONFUSE THE 50 DINAR COIN AND THE 50 DINAR NOTE. THEIR FUNDING IN THE M2 WAS SEPARATE.  WITH THE INTRODUCTION OF THE SMALLS…1,5,10,MAYBE A 20 AND FILS…THE ONLY BACKING NEEDED IS FOR THE 20 AND DOWN…NOT EVEN PUTTING A DENT IN THE M2. WITH FUNDS ALREADY ALLOCATED FOR THE 3 NON CIRCULATED COINS, THEY WOULD HAVE NO PROBLEM EXCHANGING THAT VALUE FOR THE LITTLE 250 AND 500 STILL ON THE STREET…USABLE DAILY CURRENCY…ENTER THE 1-1. 
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tman23 - The FED COURT LAW was #1 on the KURD LIST that was the agreement to participate in the government… The Kurds walked away last week after Shia got “bitter” and the dispute began… Then Jabouri said he was going to lift the 19th Parliament session to the 25th…where they would vote on the investment law… The Kurds meeting in the Kurd Parliament said the Fed Act Law would not be able to be passed during this year Parliament session because of differences… IF IF IF They vote on this on the 19th and pass the Fed Law… Speculate that Barzani has rattled the cages hard…And he is bringing in investments and liquidity to Kurdistan…And with all that being said…He is not opening the Kurd market to foreign investment with 3 zeros… If that FED LAW IS PASSED…WOW!!! There is MOTIVATION for SOMETHING BIG!
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Check out the Dinar Corp 120+Max – it’s EQUITY!!

Commercial Solicitation

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Delta - Article:  “Formation of a committee to issue coins of the two categories of 50 and 100 dinars pave the way for the abolition of zeros“  Quote:   “the central bank governor and the committee is studying the matter and study aspects and safe compared with other currencies in preparation for the start of release.”  He pointed out that “there is a procedure to remove three zeroes as it has to be the presence of large groups of currencies to replace the 50 000 coin category of 50 dinars for example.”  ANOTHER ONE TO MAKE IT CLEAR!

BGG ~ this is THE ARTICLE I used on THE CALL and THE BLOG from yesterday (thanks CantWaitwoRV)

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wmawhite - …the changes to the IQD have been put in place by the CBI. It has never floated anywhere. Also, if you were the CBI would you turn the future of your country (it’s currency) over to the world of investors and float your currency? Or would you instill confidence in the investors by telling the world that your currency is worth such and such and back it up with your reserves?
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Millionday - Article quote:  “The head of the Kurdistan Regional Government Nechirvan Barzani, Iraq, on Thursday, the Federal Government to abide by the agreements concluded between the government and the province.“  KURDISTAN AND IRAQ HAS REACHED AN AGREEMENT AND THEY HAVE COMPLETED THE MEETING AND AGREEMENT — NO MORE ISSUES…THEY ARE IN AGREEMENT AND IT IS BINDING — I FEEL THIS WILL RESOLVE THE OIL AGREEMENT BETWEEN BAGHDAD AND KURDISTAN…THIS IS MOVING VERY FAST…
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Mailman17 - I AM NOT ASSOCIATED WITH DELTA BUT I WILL REFERENCE HIS LAST POST…THEY CLEARLY ARE COMING OUT WITH A 50 AND 100 DINAR NOTE. NOW, IF YOU VISIT THE CBI WEBSITE, THEY STILL LIST THE 50 AND 100 DINAR COIN O=VALID BUT IT IS IT IS UNCIRCULATED. NOT IN USE…BUT THE FUNDING FOR THOSE COINS ARE. THE INTRO OF THESE NOTES IN NO WAY EFFECT THE M2 IN ANY WAY SHAPE OR FORM. THE MONEY IS ALREADY ALLOCATED FOR THESE NEW BILLS. AND WITH THAT, THEY CAN THEN TAKE THE 250 AND SO ON (WHATS LEFT) OUT OF PLAY. THAT IN ITSELF WILL REDUCE THE NOTE COUNT AND VALUE WILL EXCHANGE VALUE. AND WE ALREADY KNOW THE 3 ZEROED NOTES HAVE BEEN ACCOUNTED FOR AS IN IRAQ PULLING THEM IN FOR THE LAST 3 – 5 YEARS…LITTLE BY LITTLE. OUR DINAR IS ACCOUNTED FOR IN THIS MESS…ALWAYS HAS BEEN, BUT NOW INSIDE IRAQ IS AS WELL. THAT IS WHAT THIS MR [MONETARY REFORM] WAS ALL ABOUT. WAIT FOR THE RATE…ITS COMING. AND AGAIN I WILL REFERNECE THEY WILL NOT LET BONDS COME OUT AT 1166…TICK TOCK…JMO
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Breitling - this is when you want to invest.  Look at it like…things are CHEAPER…HELLO, garage sale time!   It’s time to get in.  If it goes below that…guess what I can go in and buy even cheaper…this sounds very survival of the fittest and I don’t mean it to be this way but but it’s just like the stock market.  It’s just numbers going up and down.   What we are looking for with Iraq is that it will eventually get to a certain rate and it will stabilize and then get to another certain rate and stabilize and then get to another certain rate and then stabilize and it won’t go below those rates very much and it will keep going up.  Do I see that?  Absolutely.  [Post 3 of 3]
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TopShelf - Everyone knows that Iraq wants to go international and the IQD is ultimately INTENDED for the Iraqi citizens to use. But it will also be used as a RESERVE / SUPPORT currency.  Iraq’s books show what a dinar is and how many they have.  Iraq citizens want purchasing power and a currency that is deserving of its true value.  Dr. Shabibi knows … (everybody knows) when it’s time for the Iraqi’s to use the IQD they will abandon the USD like wildfire!  Iraq is paying a lot of people…the spreadsheet has value.  Iraq needs to pay a lot of people (contractors and citizens). This will become a WIN-WIN for all!  The evidence is there. Iraq is paying a lot of people…from country to country…from central bank to central bank. Hang-on…it’s coming!  Iraq does not want to wait until the last minute…with a goal before Ramadan.  Understand this…Iraq couldn’t start this…(paying people) unless they knew that they could finish it.
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PM Barzani: International Clients Ready to Buy Kurdistan’s oil

KRG May Sell Oil in 2015, says Prime Minister Nechirvan Barzani

Kurdistan PM Barzani with KRG Parliament speaker Muhammad

The Kurdistan Regional Government (KRG) and Kurdistan Region Parliament have been discussing the federal government’s violation of the December agreement between Erbil and Baghdad. In a joint press conference today, May 14th, the options open to resolving the issue were revealed.

Kurdistan Region Parliament Speaker Yousif Muhammad said that the KRG believes Erbil should continue negotiating with the Iraqi federal government for now. “The KRG will take further steps if Baghdad continues to disrespect the deal…

Read More: http://dinarupdates.com/blog/
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tman23 - What made Iraq worth $2 plus through the 1950′s…60′s…70′s ??  Was it their vast modern infrastructure ?  The stable government and stable region ?  Was it the exports of their high quality products ?  Was it their leading innovations they introduced to the world?? ……..  What made them worth that value??

It was OIL…

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Breitling - It doesn’t matter what country, what region or whatever…the note count is a MASSIVE indicator.  Note count is the ticket to understanding a country’s agenda.  Do I have confidence in the Iraqi Dinar?  Absolutely.  Do I have confidence that their economy will come back or their ISX stock exchange is going to be put on NASDAQ so I can really make some money off of it?  Absolutely I do.  Can things get worse because of the proxy war?  Absolutely.  If it does get worse do I think the dinar will add value…do I think ISX on NASDAQ?  do I think the index will be filled?  Absolutely I do.   Here’s the point… [2 of 3 Stay tuned]
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wmawhite - …if an investor can not find a reason to be positive today about this…then he/she never will. The articles today have never before laid out the process as to what the plan is as they have today.  Keep in mind…whether you agree with the news about the notes or not…it is quite evident that there is major movement underway with the monetary reform within Iraq. I am of the opinion, based upon people much smarter than I …that this process has started back prior to to March 2015. Therefore, we are on our way.  [post 2 of 2]
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Afternoon Dinar Drive Call!!

Dinar Info w/BGG – from 5/14

Click on the call banner in the upper right corner!!

Smart phone user link – Click here

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Poppy3 - DINAR…IS STILL THE BEST INVESTMENT IN MY LIFETIME OF 68 YEARS…NO QUESTIONS OR DOUBTS ON ITS VALIDITY AS THE BEST OF A LIFETIME INVESTMENT. …THATS MY OPINION ONLY…NEVER THOUGHT IT WOULD TAKE THIS LONG…11 YEARS ago when I started but still hasn’t ever stopped my confidence how great it is.
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tman23 - The Kurds have their foot on the gas…….They have investors lined up out the GAZZZZOOOO !!  They are delivering oil, Baghdad is not meeting their obilgations….. So the 17% of the Budget once again (that is a voted law) is being violated…..Then the #1 on the Kurd list…The FED Court ACT……. Another Law ready for vote and being met with Shia bitterness…….  So the Kurds at the end of June do what ??  Maybe wait on Shia to get their Shiite together in 2016…….HARDLY !! ….. There is no reason for the Kurds to continue the path of the Shia unless something changes…….. The Kurds can do more with the GAZZZOOO of investors than they will with the “oil revenue” of 500 billion dinar from Baghdad…...and the 3 zeros hindering the investment in the region……… End of the Road in June………. So what will the Shia do ??  If the Kurds open their economy without monetary policies from the CBI…….. Shia governance is weakened trifold……
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wmawhite   [I recall hearing some time ago that when it got close they would be throwing out all kinds of mis info and it seems like that's all we're getting lately.]   …there is no reason for “mis-information”. think about it…what we are hearing now is about the currency the citizens will have. The CBI/GOI/Parliament will need the citizens to be well informed with correct info in advance of it.None of this is mis-information and it is NOT about the yet to come international exchange rate.  If this was mis-information it would be like an airline that needs to get their flights boarded and off on time telling the passengers to go to the wrong boarding area.  [post 1 of 2....stay tuned]
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Parliamentary Finance: Central Bank will print large cash categories to create the removal of zeros

Tomorrow Press / Baghdad said the Parliamentary Finance Committee member Masood Haider, Tuesday, the central bank decided to print large cash categories to create the removal of zeros from the currency in the coming period, stressing that the decision thoughtful and maker and to be implemented. He explained Haider for “tomorrow Press,” that ” Finance Committee discussed with the Governor of the Central Bank on the Keywords in its last meeting the subject of currency printed in the case of the availability of financial liquidity, “noting that” the central bank decided to reprint some of the larger denominations to create the removal of zeros from the currency in the coming period. ” He added that “due Categories printed and fifty-one hundred thousand Iraqi dinars, “pointing out that” the thoughtful decision maker and for more than two years and only implementation remain. “

Read More: http://dinarupdates.com/blog/
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Mailman17 - PLEASE BE AWARE THAT WE HAVE ALWAYS KNOWN FROM DAY ONE THAT MISINFORMATION WOULD BE AT ITS HIGHEST LEVEL AT THE END OF THIS RIDE. LOOK AT THE WHOLE PICTURE AND JUST NOT A CORNER. ART 8 WILL REQUIRE AT LEAST A 1-1…AND A FLOAT JUST OPENS UP THE FLOODGATES FOR THE BIG SHARKS TO TAKE ADVANTAGE OF NOT ONLY THE DINAR AS A CURRENCY BUT THE ISX AND THE BONDS. THESE BONDS WILL NOT GO AT 1166, AND NEITHER WILL THE CURRENCY OR STOCKS. SECURITY IS A MUST, THAT I AGREE, BUT I ALSO THINK THEY ARE FARTHER ALONG WITH THAT INCLUDING MOSUL THAN THE MEDIA PUTS IN PRINT AND ABADI HAS ALSO STATED ISIS WILL NOT STOP THE MR [MONETARY REFORM]...JMHO   [post 3 of 3]
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tman23 - WHOOP……There it IS !!! Saleh added that the Central Bank is also working on re-issue coins to the absence of these categories at the moment… They have 25 and 100 denom coins that have not been in circulation…HERE THEY COME !!
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Breitling - Everyone is wondering about the 50K note and what’s going on…There are articles out there talking about 50K notes, in fact I just got another one this morning…not only that but they’re thinking about coming out with a 100K note.  So at 50K you’re looking at a completely different pace.  That’s an indicator.  Are they reducing the note count?  YES they are.  If they come out with a 100K note are they reducing the note count?  YES they are.  But their agenda and how they are going to let the value come out and the pace is completely different and that is why you have to watch this stuff and understand the note count.  [Post 1 of 3 stay tuned]
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Parliamentary Legal: Parliament to vote on the law of the Federal Court next Tuesday

Tomorrow Press / BAGHDAD: A member of the Legal Committee MP Salim Chawki, Thursday, Parliament will vote on the Federal Court Act, next Tuesday, after the dissolution of differences of political blocs on it. and between Shawqi for “tomorrow Press,” that “the political blocs reached an agreement on the dispute Article 12 of the Federal Court Act and became the court in the presence of a two-thirds vote will be three-quarters. ” He added that “years of service also is set from 6 to 12 years in court, and legal scholars also become four instead of two-in-law as he wanted the Kurdish side, and therefore, President resolve the dispute and there is no any problems now. ” Shawki pointed out that “Parliament will vote on the law during its next meeting, on Tuesday.

Read More: http://dinarupdates.com/blog/
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Tman23 - One Congessman entered a proposal to arm the Kurds and Sunni’s directly…….. The Shia…..starting with Sadr and Iran ramped up the propaganda machine that the USA was working to divide Iraq…… Everytime this monetary reform gets close, Iran gets freaky……There is a laundry list of past history to support this….. Furthermore, the Shia fear a indepemdent Kurdistan for the problems it creates in Iran for the depressed Kurds in their region…...And now the Kurds in Iran are talking about over throwing the Iranian regime..
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Mailman17 - I TAKE THE 50,000 AND 100,000 THEORY WITH A GRAIN OF SALT CONSIDERING MOST OF THE JIBBERISH REGARDING THEM COMES FROM NOBODYS IN SOME COMMITTEE OR A STRAY MP WHO’S OPINION MEANS NOTHING. AS FAR AS NOTE COUNT, IT HAS ALREADY BEEN STATED IN THE PAST THAT THE LOWER DENOMS IN PLAY RIGHT NOW ARE FAR AND FEW APART WITH MOST IRAQS USING TAPED ONES TO PURCHASE ANYTHING. IRAQ WILL NOT TELL THEIR PLAN IN ADVANCE AS TO THE RATE INCREASE, AND A FLOAT IS NOT AN OPTION DUE TO NO LOWER BILLS INTRODUCED TO COVER IT. THEY MUST COME OUT STRONG AT LEAST AT A 1-1 TO COVER THE VALUE OF THE NEW 1,5,10 ECT. AND MAKE THEM USE THE DINAR IN THE MARKETPLACE.   A 50 THOUSAND AND HUNDRED THOUSAND WILL NOT DO THAT.  [post 2 of 3....stay tuned]
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tman23 - So as we suspected…………. The people of the Kurdistan Region and the Peshmerga can no longer wait for Baghdad to send the KRG’s share of the budget.”……..And as I posted I heard in conversation a group is on thse sidelines waiting with $500 million Euro per month to purchase Kurd oil….. here is a Kurd statement today….. International clients wish to purchase the Kurdistan Region’s oil, so we wouldn’t have any problem selling it in 2015.”…… And this comment…..Commenting on the US congress bill to supply arms directly to the Peshmerga, Muhammad said, “We are following the case closely. But it is only a draft so far.”….. CONGRESS REMOVED THAT LINE OF DIRECT ARMS IN THE DRAFT YESTERDAY…….!!!
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Check out the Dinar Corp 120+Max – it’s EQUITY!!

Commercial Solicitation

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Mailman17 - FOR A 50 DINAR NOTE SUPPOSEDLY NOT IN SERVICE AS OF MAY 1ST, YOU WOULD THINK THE CBI WOULD UPDATE THEIR WEBSITE REGARDING SUCH A BOLD MOVE IN MONETARY POLICY. THE MANY FORUMS ON THIS INVESTMENT HAVE BOOTS INSIDE IRAQ YET NO ONE CAN PROVIDE A PICTURE OF THE NEW 50 SUPPOSEDLY REPLACING THE OLD ONE. THE OLD 50 IS STILL AN ACTIVE NOTE ACCORDING TO THE CBI WEBSITEA 50,000 LET ALONE A 100,000 NOTE INTRODUCED AT 1166 DOES IRAQIS NO GOOD AT ALL, ESPECIALLY IF THEY WERE INTENDED TO DRAW IN THE REMAINING 250, 500, 1000 ECT.   AT 1166 THAT WOULD MEAN YOU COULDNT BUY ANYTHING LESS THAN FORTY SOME ODD BUCKS UP TO 80 BUCKS PLUS, UNLESS YOU USE U.S. DOLLARS WHICH WE KNOW THEY ARE TRYING NOT TO DO. FLOATING THE PRICE AGAIN DOES NO GOOD IF YOU DONT HAVE SMALLER DENOMS IN PLAY SO…   [post 1 of 3....stay tuned]
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Poppy3 - all news INDICATING THE CHANGE IN VALUE CAN CHANGE AT ANYTIME AND THIS HAS BEEN TRUE FOR THE LAST FEW WEEKS. SOURCES HERE AND THERE ALL AGREE THIS PROCESS IS IN FULL AHEAD MOTION WITH NO ONE HOLDING THEM UP.  ALL NEEDED FOR THE NEW RATE IS ALREADY COMPLETED… ALL THEY NEED IS IMPLEMENTATION AND MUCH OF THEM WILL OCCUR TOGETHER. I DO KNOW SOME FURTHER BANKING CHANGES ARE BEING MADE THIS WEEK BUT HEARD THEY ARE NOT CHANGES THAT THE NEW RATE WOULD BE HELD UP FOR. TIME WILL TELL BUT I AM VERY RELAXED WITH ALL NEWS BEING IN OUR FAVOR.
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Enorrste - I believe that the case has been presented now that both a 50,000 note and a 100,000 note will be issued with the specific purpose of reducing the amount of paper in circulation.  Neither note will change the money supply or cause inflation.  They won’t be “given out” but instead will be “exchanged” evenly for an equal amount of smaller denominated bills.  Those bills will be destroyed, thus reducing the paper from 4 billion pieces to 1.8 billion pieces.  Only AFTER that process is complete will the CBI allow the float to begin, in my view (or at least after a good amount of the paper is destroyed).  Then the dinar will begin to rise in value and, as it does, the new 100000 and then 50000 notes will be the first to disappear.  They will, then, live a short but effective life in preparation for the “remove the 3 zeros” project to come to fruition.  In my view, assuming the notes come out shortly, we should see the beginning of the rise in the value of the dinar later this year.
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Nechirvan Barzani, confirming the continuation of the dialogue with Baghdad over oil deal

Arbil-and babysit - The head of the Kurdistan Regional Government Nechirvan Barzani, the continuation of dialogue between Baghdad and Erbil on the oil agreement, threatened that if not reached agreement, the province will start to sell oil directly.

Barzani said on Thursday, in a press conference with the President of the Kurdistan Parliament, after a meeting between the government and the parliament, he said that “the Baghdad oil bound by the Agreement or to go to the conclusion of a new agreement.”…

Read More: http://dinarupdates.com/blog/
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Adam Montana - [...from the current progress and in your honest opinion, do you think they can have the HCL before Ramadan (from mid-June till mid-July)?]  Can they? Absolutely.  Will they? Possibly.
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Millionday - [So is ISX going to feed into Nasdaq or stay independent?]   ISX WILL REMAIN BUT NOW THEY HAVE A SECONDARY MARKET THAT WILL ALLOW INVESTORS TO INVEST IN THROUGH BROKERS OR NASDAQ AND OTHER PRIMARY MARKET BROKERAGES – THIS IS AN EXPANSION ON THEIR CAPABILITIES AND ALSO THEIR REVENUES FOR THE COUNTRY OF IRAQ AND THE PUBLICALLY LISTED COMPANIES
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tman23 - Funny when people say nothing happening… Iraq all talk no action! Fact is they are fighting for their mere existance as a country… They are fighting for a democracy and met with internal and external resistance… The appearance of the World Bank, the IMF, the UST, an announcement of application for Credit Rating… The appearance of Shabibi at the financial table…the announcement of a “new currency” the announcement that the new currency must come first as a prelude to lifting the 3 zeros… the announcement of pulling the existing 50 from circulation… the announcement that the new currency is ready for implementation… NA….Nothing going on…So turn the channel to another page for the comedy act…evidently some seek entertainment and not facts…
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Urgent Kurdish parties sends a message to al-Abadi 

Kurdish parties sends a message to al-Abadi

Kurdish blocs decided after a meeting today in Arbil to discuss the oil deal with Baghdad and the Kurdistan region’s share of the financial budget to send a message to the prime minister Haidar Alebadi..itba

Read More: http://dinarupdates.com/blog/
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Adam Montana - I don’t have any secret intel today.  (If I did, I couldn’t share it anyway!).  It occurs to me that people tend to get hung up on the small details a lot of the time, and they forget to look at the big picture. The money that comes from oil is mind-boggling. They don’t have to live by our “logical” terms, and they won’t do business or maintain their money on our terms either!  The potential for Iraq to soar far beyond anything we can currently imagine is astounding. The potential for wealth simply by putting their feet down and announcing to the world “OUR CURRENCY IS NOW 100X STRONGER” is  real… I’m in for the long haul on this one, my friends. I don’t expect an RV of $15 …but you can bet…I’m sticking around long enough to see a good profit on my little gamble here. I’ll see you at the finish line, and hopefully not too far from now.
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Frank26 - Dr. S [Shabibi] wants all of his banks secured. Every one of them. The insurgents that are still left in Mosul…blew up one of the major bridges…because they know they are about to be wiped out.   IMO – ISIS is about to get their butts spanked!  …I want to say…all of this is being done before Ramadan.  TopShelf…mentioned the date…before the 17th.  They are all working together…GOICBI..DC…IMF…WB..etc.
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Bondlady - I feel like if they bring out the 50 k note it will give them time to drag in a lot more 250, 500, 1000, 5 and 10k notes, letting them use the 25k and 50k abundantly, all the while pulling in massive amounts of the smaller than the 25k notes.  Since they already released the new 25 k notes…which should cause the rate to increase over time as they take in all these other notes…as they withdraw the notes …less in circulation …rates increase imo. Just like its done throughout the years all the while the tariffs and other fee’s charged by the state and all the new contracts as well and pumping more oil now than Saddam ever did…to me this all increases the exchange rate. 

All of these things contribute to raising to the rate on notes we hold. Like I said above a slow grow, this is like owning stock in a company and as the company grows so does the value of your stocks!  It is also my opinion that they are doing this to make them stop using the dollar. They would carry less notes with the 50k. One of the reasons they used dollars anyways and that also to me would cause the rate increase on the dinar… less dollars more dinar….and reason enough to do it.  It looks more and more to me like no straight up RV but steady growth like it’s been but on a quicker scale than before because they pull in a huge amount of notes lower than the 25 and 50k.

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Millionday - THIS IS FROM THE ISX SITE…THE REASON THIS IS INTERESTING IS THE MOST IMPORTANT WE HAVE SEEN DURING THE ENTIRE  INVESTMENT.  MARKET PERFORMANCE NOW HAS TWO SELECTIONS AVAILABLE ::: PRIMARY MARKET AND SECONDARY MARKET…SECONDARY MARKET IS NEW AS OF TODAY [TUESDAY]. DEFINITION of ‘Secondary Market’:  ”A market where investors purchase securities or assets from other investors, rather than from issuing companies themselves. The national exchanges – such as the New York Stock Exchange and the NASDAQ are secondary markets.”  THE SECONDARY MARKET IS NOT ONLY NEW YORK STOCK EXCHANGE WHICH ALLOWS NEW YORK INVESTORS TO INVEST IN THE ISX BUT IT IS ALSO THE NASDAQ MARKET  WHICH OF COURSE IS THE CURRENCY MARKET.  THE REASON THIS EXCITES ME…IS THAT IRAQ HAS BEEN ORDERED TO DO THE INTERNATIONAL EQUATION…  

IT OBVIOUSLY SEEMS TO POINT TO THE HUGE GUESS THAT INTERNATIONAL ACCEPTANCE WOULD BE NEEDED IN ORDER FOR THIS TO BE SUCCESSFUL OR AT LEAST AS SUCCESSFUL AS THEY HOPE IT TO BE IN THE REGION AND THE GLOBE.  Article quotes:  “the stock market will rise in the next month, influenced by news of Iraq for a loan from the World Bank…“  “the entry of the 13 private company traded on the Iraq Stock Exchange, trading rates will live.”  THE STOCK MARKET WILL RISE IN THE NEXT MONTH AND ALSO RATES WILL LIVE — MEANING IMO — WHOOOPOW.    [doesn't Iraq have to have a tradable currency for all this financial activity?]   THAT IS CERTAINLY THE EXPECTATION AS IT WOULD NOT BE POSSIBLE TO TRADE WITHOUT EXCHANGEABLE CURRENCY.

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My Ladies - I WOULD LIKE TO COMMENT TO BONDLADY PLEASE, YOUR ANALYSIS IS DEAD ON AND THEY HAVE TOLD JUST WHAT YOU EXPLAINED.HERE IS JUST ONE CURRENT PIECE OF THE MANY TIMES THE CBI TOLD US WHAT THEIR INTENTIONS WERE.  IT IS NOT A MISPRINT, IT IS NOT MAKE BELIEVE IT IS ACTUALLY OCCURRING AND IT IS NOT SCARY IN FACT IT’S GENIUS.  THIS IS ALL PART OF THE MONETARY REFORM AND IT IS A GOOD THING. THIS IS ACTUALLY BRILLIANT ON THE CENTRAL BANKS PART.  IRAQ HAS ACCOMPLISHED SEVERAL THINGS WITH THIS 50K NOTE, THEY ARE INCREASING MONEY SUPPLY WITH OUT INCREASING NOTE COUNT.  THEY ARE CURBING INFLATION AS IRAQ GROWS THEY ARE GOING HAVE TO INCREASE MONEY SUPPLY WHICH THEY ARE DOING NOW.  THE SAME NOTES WILL SERVE AS THE LOWER NOTES  WHEN THEY REMOVE THE ZEROS FROM IT DURING THEIR CURRENCY REFORM.

THE 50 DINAR NOTES THEY CANCELLED FROM CIRCULATION FOR GOOD ALLOWED THEM TO BE ABLE TO DISTRIBUTE THE 50K WITH OUT INCREASING NOTE COUNT.  IT IS JUST IN MY THOUGHT PROCESS BUT I THINK IF THEY DECIDE TO DISTRIBUTE THE 100K THAT THEY HAVE THEY WILL DO THAT AFTER PULLING IN THE 250 NOTE. SO WE JUST WAIT AND WE WATCH WHAT HAPPENS.  IN ANY EVENT THIS WILL NOT AFFECT US AND THE NOTES WE HAVE. THIS IS A GOOD THING AND AS THEY HAVE SAID A NECESSARY STEP IN THE MONETARY REFORM AND THEN LATER WILL BE INSTRUMENTAL IN THE CURRENCY REFORM.  GIVE IRAQ SOME CREDIT PLEASE EVERYTHING THEY DO IS DELIBERATE AND VERY WELL THOUGHT OUT. THIS 50K MOVE IS GENIUS…I SAY – BONDLADY WONDERFUL JOB EXPLAINING THINGS, THANK YOU.
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TopShelf - Don’t worry if you don’t get this…After the 17th…it won’t matter if you don’t get it anymore.  …we now have an AREA CODE of 393…finally showing in the spreadsheet…on ISX!  Those that are in the financial world…whether it’s the primary…secondary…and understand the markets and what they’re doing with BONDS…you’ll understand what I’m saying. Today, people will see changes…but they won’t release the rate until they’re ready…but what it means is they are set up to be sold INTERNATIONALLY…not just DOMESTIC…but at an international rate!   Without this…it’s like owning a Ferrari without tires and rims. [pointless].  We all knew that ISX would be the vehicle to move these [bonds]…but they didn’t want to show you the nice shiny rims and the low-profile tires because they kept it “low profile”.  

This is going to hit the market…this is the moment…but we don’t know the exact date.  If you have the calculations… you can figure out a rate…(now that could also change). It can change.  The rate is DRIVEN by demand.  They have a minimum bid amount on these bonds…based on the last ones that I know of [area code 371] – but it could be different than that. They are showing you that the vehicle is ready to move…it can move…not just behind the scenes…but domestically and internationally with any broker or bank that is set up to do business.
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tman23 - There is a lot going on……..And the 50% cut by Baghdad in Kurd region pay…….. YOU KNOW, WE KNOW, BAGHDAD KNOWS, AND THE INTERNATIONAL COMMUNITY KNOWS………. That such an act would raise the level of animosity between Erbil and Baghdad…….it would even be enough to breach agreements and give the Kurds the right to walk away from the GOI…….. But as we have seen…….Baghdad has cut Minister Budgets which were 1.2 billion to around 400k…….. We have seen 2/3 reduction in many budgets across the board and the payout in IQD has been following the same line of protocol……….in other words 400k  times 3 equals 1.2 billion…… They have a liquidity problem but there appears to be by design to slowly lower notes in circulation since January……….   There is NO DOUBT and I will say it 100% that the start of July is the BIG CHANGE……. And they cannot just jump in July 1st and say here we are……..there will be an opening introduction before the 1st…..
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Enorrste - In order to remove the large notes the value of the dinar must rise to a place that makes this possible. This implies that the new smaller dinar notes (1 to 200 dinar) will be produced and distributed as the value in the dinar rises. We do not know the specific timing of this process but we do know that Saleh has said that the “remove the three zeros” could take from 2 to 4 years to be fully accomplished. We also know that the “green light” has been given to initiate this process, but we do not know the specifics of the timing. We do know, however, that the actual removal cannot take place until the value reaches a level to make it necessary to remove the large notes (somewhere around a penny per dinar, or even slightly less than that).   In any case, we can safely state that the raising of the dinar must precede the removal of the large notes, although it will surely continue upward until they are all gone (presumably at least to $.50 per dinar, when the 500 dinar note would be worth $250). The CBI is on record that the goal is $3.50 per dinar, stated in 2008…
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GREAT DU CHAT Conversation…

Holly1: Hello everyone, I am going to bring something in…I just had a small conversation with someone in Iraq . not sure what it means but his response sounds good . Take it for what its worth nothing “stamped in stone” with words ok :)

Me:
yes I have read in the paper the Iraq currency is to revalue is that true? and smart cards can be used outside of country is that true?

Contact:
ابو زينب العبادي

Yes

Me:
… when do you think that is going to happen?

Contact:
ابو زينب العبادي

political arguments for great people of this country

Me:
is it true what I read that Iraq has new currency coming what would be the benefit for the new currency?

Contact: 
ابو زينب العبادي

Do any pre-2003 or later good for us

Me:
do you think Iraq will ever recover from what has taken place in the country?

Contact:
ابو زينب العبادي

It will be the best creation of God

ابو زينب العبادي

His family dear friend Becky

Me:
…. Thank you

Contact: 
ابو زينب العبادي

Thank you

Me: End (F)

BGG says: that is really a great conversation.

Holly1 says: do u understand what he may be saying regarding the pre 2003 ?

BGG says: that is the “new” currency.

DiagyAAAE: if it post dates 2003 its good currency

Holly1: ok was not sure when he said 2003 good for them

BGG: yes…

BGG says to Holly1: In 2003, new banknotes were issued consisting of six denominations: 50, 250, 1,000, 5,000, 10,000, and 25,000 dinars. (this is the currency we hold)…

Read More: http://dinarupdates.com/blog/

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wmawhite - …there is only one way a piece of currency can buy more…and that is when the price of goods decrease…and how does that happen?   When the value of that currency increases in the world market place…and in our case…the IQD outside of Iraq.  90% of the goods inside of Iraq are bought outside and imported. The only way those goods will decrease in cost is by the IQD increasing in value outside of Iraq.  Remember, the iraqi citizen has in his hand a 1,000 IQD note and 5 minutes later the IQD revalues (outside of Iraq), that Iraq citizen’s 1,000 IQD note is STILL 1,000 IQD.  [what does your brain tell you when we will see a reval?]  My brain tells me this is happening and I am very happy with that…unfortunately my brain didn’t come with a timer…lol.
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tman23 - Parliament needs to pass the investment law…then we should see an immediate response of sorts from the CBI… following the World Bank payment for purchase of Iraq Bonds… And the World Bank is not going to buy Bonds at 1166 or $1 usd… And then Iraq raise their currency value… This is one scene where the horse will definitely be before the cart.
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Millionday - THEY ARE HAVING THE RECONCILIATION CONFERENCE AND HAVE SENT FUNDS TO THE BANKS SO I DONT KNOW WHAT THE HOLD UP WOULD BE — THEY ARE FINISHING THE IMPORTANT LAWS…SO THE SITUATION IS VERY ENCOURAGING…THE TIMING IS PLANNED AND WE DONT KNOW WHAT IT IS — SO WE WAIT — OBVIOUSLY LOTS OF PROGRESS HAS BEEN DONE — WITHOUT A DOUBT FROM WHERE WE WERE.
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Check out the Dinar Corp 120+Max – it’s EQUITY!!

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Aggiedad77   How do you spell “money”…if you are in Iraq…L.I.Q.U.I.D.I.T.Y…maybe this bond thing has already taken affect, We see evidence of things being paid that just a few days ago would have probably been swept under the rug….not oil companies being paid…but they are….not debt being paid…but it is….BUT payments being made to citizens…..the very heart of Iraq its citizens…who have for so long been neglected… Article:  “25 000 dinars per citizen instead of ration is received“  25k notes being issued to citizens for rations that have not been distributed in the past year….this amount will be distributed within the next 10 days they claim …when you consider all the millions of people in Iraq and see each one being given a 25k note….that has to be coming from somewhere and I can assure it is not Maliki’s pocket.
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Delta - I’m so excited…a lot of good news! They must have a credit rating to sell the bonds.  Standard and Poors…one of the requirements to get a credit rating is that your currency MUST be international…That is a fact. …re-read what I brought in…one of the points about getting a credit rating is they must have an International currency – which is Article 8.  They must come up with a rate that is agreeable with the IMF (not 1166) – something that is agreeable for everybody.   Iraq is having a BIG, BIG problem with liquidity…they have no cash in hand and they need to sell those bonds ASAP!

let’s talk about the 50,000 and the 100,000 dinars.  Iraq CANNOT come out with a 50,000 or 100,000 dinar note! …they would have to have an inflation rate of 30 to 40%.  You don’t do that when your inflation rate is like 1 or 2 percent.  Why would you spend the money to produce a 50,000 dinar note when you already have the same thing with just two 25,000 dinar notes?  The plan is to print 50, 100 and 200 dinar notes and introduce them to the market…but before they do that the rate has to change first! The 50 dinar note after the revaluation will be worth around $43.  The new 50 dinar note and the 25k notes will coexist for a while.  So they will come up with a 50 dinar note after they revalue (.85) after they drop the 3 zeros.

It is impossible for Iraq to introduce a 50,000 or 100,000 dinar note!  If they did…no one would buy their bonds!  Everyone is waiting for the rate.  The window of opportunity we are studying is before Ramadan – June 17th.   Iraq must be in Article 8.  We know they have a holiday coming up on Wed/Thursday. In my opinion…nothing will happen this week…due to the holiday (I hope that I’m wrong)…then starting next Sunday we should start hearing something.  We are very, very close.
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Frank2 - Going forward with the monetary reform, the budget, the salaries, the private sector…everything that is in line.  First of all we need an credit update…a credit rating for the banking systems in Iraq.  Did Iraq get it?  YES! …it is one of the first steps REQUIRED in order for a country to establish its own BONDS. Here’s the key…these BONDS are about ready to be released.  The “GREEN-LIGHT” was not just to remove the 3 zeros…it was given to do the monetary reform process…basically to COMPLETE ARTICLE 8!  The green light allowed them to do what they are doing finding ways that they can FULFILL their budget and explode the private sector, economy, bring in INTERNATIONAL trade. This is VERY BIG!   There are TWO types of BONDS:  1- DOMESTIC BOND  2- INTERNATIONAL BOND (yeah!).  These are not being sold in USD but IQD’s!

Do you know anyone who is going to buy BONDS at the 1166 rate? (No!)    …these BONDS are about to go up in value from 1166  up to 1 to 1 (like the USD)  but they’re going to go past the American Dollar over time probably within the next 5 years for sure. That’s why the DOMESTIC and INTERNATIONAL BONDS must be sold in IQD because they are going to go up in value.  The value will only continue to go up… 1, 2 or 3 times its value in 1 or 2 years or overnight…It depends on the whales and the sharks. It depends on the international investors coming into Iraq. It depends on the people outside that are willing to buy these bonds. The World Bank has a huge delegation over there right now. I think it for the final touches for the introduction of the new rate. They got a new credit rating. They got the bonds set up. And all of this BEFORE Ramadan? (Yea…before Ramadan).
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Afternoon Dinar Drive Call!!

Info w/BGG – from 5/12

Click on the call banner in the upper right corner!!

Smart phone user link – Click here

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tman23 - if the CBI releases a 50,000 note that has those 3 zeros to the street… it is not a good thing…there is no way to spin it as being positive…and those who buy into the spin of it being positive are in denial.  WE will have to wait and see what the CBI releases…A 50 note with a solid block to the edge of the note after the #50 keeps us in the game …a 50,000 note that has the 3 zeros on the note is not good.   …we make payments electronic… On the receipt does it say 20 note in 50k 10 notes in 25k…etc. NOPE…and if a bank for internal pay receives cash they need it for liquidity to use in daily transactions… I’m not buying into use for internal banking.

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Enorrste - [...why is the CBI more concerned with reducing the number on notes rather the amount of curency in the market.]  The CBI has stated two things:  first, that the money in circulation is well supported by the reserves on hand, making the current dinar one of the strongest currencies in the world (in terms of backing); and second, that as the value of the dinar is allowed to rise the 3 zero notes will be gradually withdrawn until the money supply falls from its current 38 trillion dinars to about 25 billion dinars.  At that time the dinar will STILL be the strongest in the world because they have $67 billion in reserves, or nearly 275% coverage of their money at $1 per dinar.  Therefore, to answer your question, the “amount of currency” in terms of its current value, is not a problem and won’t be as they destroy the large notes with the rise in the value of the dinar.

The number of pieces of paper, on the other hand, is a cumbersome problem that they simply WANT to correct prior to initiating the float...doing so will allow a larger bill with better security to come into play and will bring in millions of smaller notes than can be destroyed PRIOR to the intiation of the float.  The result is that the float may well be announced shortly after the introduction of the 50k notes because they can destroy the smaller 3 zero notes that are turned in.  Then, as the value of the dinar rises, even more 3 zero notes can be destroyed to lower the overall money supply, as they wish. 

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Millionday - THE REASON THE NEWS IS REPORTED ABOUT THE GOVERNMENT IS THAT THIS IS A REFORM PACKAGE — THE INVESTMENT LAWS AND THE CUSTOMS AND ALL THE NEEDS TO MAKE A MARKET ECONOMY SUCCESSFUL OR EVEN DOABLE — THE GOVERNMENT HAS TO BE OBVIOUSLY INVOLVED.  THE CBI HAS THE INDEPENDENCE TO USE TOOLS TO CONTROL THE COUNTRY`S INFLATION AND ECONOMIC HEALTH AS THEY MONITOR IT — THE LAWS IN PLACE FOR IRAQ OBVIOUSLY ARE FOR THE MARKET AND ECONOMY RULES — SO TO NOT INCLUDE THE GOV WOULD LEAD TO A THIRD OF THE PICTURE.  TO NOT REPORT ON THE GOVERNMENT AND LAWS WOULD BE LEAVING THOSE THAT ARE INVESTED IN THE DARK — AS THE LAWS FOR IRAQ AS WITH ALL COUNTRIES DUE TO GLOBAL ECONOMICS ARE A HUGE PART OF THE ALLOWANCE IN THAT COUNTRY.

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After receiving a letter from al-Abadi al-Maliki in a coma … complete solitude

After receiving a letter from al-Abadi al-Maliki in a coma ... complete solitude
Baghdad ((eighth day)) - …In recent days, an escalation in the dispute between al-Maliki and al-Abadi, who accused him several times without mentioning his name being behind the promotion of rumors frustrate the resolve of Iraqi forces and induction of websites and newspapers and satellite channels affiliated to work to impede the work of the government in order to make it fail and achieve his dream to return to the premiership.

The source noted that the Abadi face a strongly worded letter to al-Maliki last weekend against the backdrop of incitement led political figures and MPs close to him and auction sites belonging to him on the issue of what happened in Nazim Jabber Anbar and the prosecution obtaining a massacre in which at the hands of the organization “Daash” proved later to be incorrect.

He noted that al-Abadi said in his letter to the owners of these “military-led clique and you will not discourage victories government and the Iraqi army and never we will hold all who stand in general in the future.”…

Read More: http://dinarupdates.com/blog/

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tman23 - The 2015 Budget was passed and posted in the Gazette…In that Budget it was agreed and passed that the Kurd region would receive 17% …So if Baghdad sold 3 million barrels per day and revenue at 4.5 billion per month…17% is 765 million usd payment… The Kurds pumping 500,000 barrels per day come up with would make the same figure of around 750 million per month…The Kurds have an economy that could explode into being the financial hub of the middle east… They have an ESX that has been waiting for one year to open listing companies yet part of the delay is not wanting to deal with the 3 zero accounting… Abadi asked for citizens to be patient until June…Abadi announced that come July Iraq will be able to make all payments on time..  SO…Why the pressure from the Kurds at this time with only a few weeks to go to live up to promises made?   …the Kurds are moving forward…The question is will the CBI…because if the CBI does not…then I expect the Kurds to be doing business in USD come July.

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Enorrste - …the printing of the 50K note is not designed to solve any economic problems.  It is a revenue neutral event, an even exchange.  It has nothing to do with solving the fiscal problems…the solution to the fiscal crisis in Iraq is to go ahead and float the currency.  A rising value of the dinar would solve innumerable problems.  Imports would become cheaper (90% of the goods in Iraq are imported),  Jobs would bring in more money to the GOI.  Of course oil is denominated in dollars, so that would change.  But as the dinar rises in value everything else becomes cheaper.  So, my question is:  what’s the hold up?
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Millionday - Article quote:   “The president of the Republic of Fuad Masum, on Sunday, will include a meeting of the three presidencies and the President of the Federal Court to discuss national reconciliation which will be after his return from Iran.”    SUNDAY IS WHEN THEY PLAN TO HAVE THE NATIONAL RECONCILIATION CONFERENCE FOR IRAQ   …THIS IS HUGE FOR IRAQ…THIS IS GREAT FOR THE UNITED STATES AND THEY ARE VERY HAPPY TO SEE IRAQ MOVE FORWARD.
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CURRENCY CODE SELL BUY

US dollar USD 1166.000 1164.000

CURRENCY CODE SELL BUY
US dollar USD 1166.000 1164.000
Euro EUR 1308.369 1307.714
British pound GBP 1798.438 1797.539
Canadian dollar CAD 964.593 964.111
Swiss franc CHF 1261.359 1260.728
Swedish krona SEK —– —–
Norwegian krone NOK 156.101 156.023
Danish krone DKK 175.294 175.206
Japanese yen JPY 9.729 9.724
Special
Drawing Rights
SDR 1639.781 1638.961

Indicative rates – 12.05.2015

http://www.cbi.iq/

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tman23 - They are FIGHTING amongst political parties…….. They are to convene the 19th to vote on the ‘investment law”……….. BUT…… Iran is STIRRING THE POT !!!!!!!  The Shia want to dominate the Sunni and Kurds…….. This is the IRAN SHIA FACTION……  You see that when Iran begins the propaganda and SHIA begin to disrupt meetings……THEY ARE ATTEMPTING TO STALL PROGRESS…….. AND THAT PROGRESS IS THE LIFTING OF 3 ZEROS…….
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Millionday - The governor of the Central Bank announced before the economic and investment commission in the House of Representatives that the bank in the process of printing new securities category of 50 thousand dinars to enhance the efficiency of the payments system.”    [it worries many here about the larger denoms when it should be going to lower denoms dont you think?]   IT SHOULDNT — MANY COUNTRIES HAVE LARGE DENOMS IN THEIR SERIES AND THEY ARE NOT FOR DAILY USE BUT AS IRAQ HAS EXPLAINED IT FOR STRATEGIC REASONS; THEY DID NOT EXPLAIN ANY FURTHER — SO IT DOESNT WORRY ME AT ALL.  LOTS OF THINGS WE HAVE BEEN WAITING ON COMING AROUND THE CORNER…
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Mnt Goat - Some say it will never reach a June timeframe. Really?    No Security, No needed laws, No RV!  Now also Iraq has thrown in a curve ball and told us they also need the new 50,000 notes (holding off on the 100,000 for now) as part of the liquidity issue solution. So now we also have an economic element in the mix.  They intend to begin issuing these new notes to the bank in a couple months…there’s that June/July timeframe again.  Today’s news is full of confirmations that yet again we are on the right track for an early summer timeframe for something dramatic in Iraq to happen.  It will effect their economy and have long standing consequences for their security efforts. Maybe a very good timeframe to the see the RV?

I am not saying  it is going to RV in June or July. I am not setting a date but I am saying Iraq needed to address demands made by the USA prior to any RVI am now seeing these demands being met and addressed. I am seeing the much needed laws passed and the implementation for them funded.  I see just too much lining up for mid to late summer timeframe 2015 which makes me think  that something is about to happen with their economy, something major. I also can see that something is holding and what holding it back now for months. This “something” is out of Iraq’s hands.
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The president of the Kurdistan Regional Government Nechirvan Barzani

Baghdad didn’t adhere to oil agreement, says Barzani

(IraqiNews.com) Baghdad – President of the Kurdistan Regional Government Nechirvan Barzani accused on Sunday the central government of failing to honor the oil agreement between Baghdad and Erbil, noting that the region does not mind if Baghdad wishes to deal with the region as an “oil consumer,” while called on the central government to pay trillion and 200 billion dinars…

Read More: http://dinarupdates.com/blog/
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Top Shelf - [Are all these articles still lining up with the original articles stating that the 50 note will be worth the current 50,000?  It seams like they are saying that they are printing the 3 zero notes.]  IT IS A PLAY ON WORDS…50 IQD = .043 USD 5/10/2015.  WHEN THEY SPEAK OF A 50 THOUSAND NOTE IT IS LIKE THIS  – 50,000.  NOW THEY CAN BE CONFUSED OR MISLEADING FOR A REASON, IF THEY CAME OUT WITH A NEW NOTE OF 50 DINARS IT WOULD REVEAL TOO MUCH, SO THEY SAY THEY WILL HAVE A 50,000…THEY CAN CLAIM WHAT THEY WANT, WHAT REALLY GETS RELEASED WILL BE 50 IQD.   THEY THEMSELVES HAVE TROUBLE UNDERSTANDING LIFT THE THREE ZEROS. WHICH IS DONE TO KEEP MANY FROM KNOWING WHAT DIRECTION THEY WILL GO. THE SS (Spread Sheet) SHOWS OTHERWISE, REMEMBER SS IS UP TO DATE AND IT DOESNT SHOW ANYTHING LIKE THAT WITH BIG NOTE COUNTS.
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Backdoc - ASSUMING A RE-INSTATEMENT IS ACHIEVED IN THE NEAR TERM I BELIEVE SOMETHING ADDITIONAL MAY HAPPEN POSITIVE TO THE KUWATI DINAR AND THE IRAQI DINAR AROUND THAT TIME!   THE DONG MAY FOLLOW IN THEIR FOOTSTEPS AS WELL.

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tman23 - AND SO……. They decided to pull the 50 note worth 4 cents and give less then 60 days to exchange…… Then they announce the intro of a 50,000 note………. Because they don’t want the citizens to get confused with 50 and 50,000…….. C”MON MAN !!!   This is a clear indication that the process of lower denoms and lifting the 3 zeros is in full steam !!
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CURRENCY CODE SELL BUY

US dollar USD 1166.000 1164.000

CURRENCY CODE SELL BUY
US dollar USD 1166.000 1164.000
Euro EUR 1308.369 1307.714
British pound GBP 1798.438 1797.539
Canadian dollar CAD 964.593 964.111
Swiss franc CHF 1261.359 1260.728
Swedish krona SEK —– —–
Norwegian krone NOK 156.101 156.023
Danish krone DKK 175.294 175.206
Japanese yen JPY 9.729 9.724
Special
Drawing Rights
SDR 1639.781 1638.961

Indicative rates – 11.05.2015

http://www.cbi.iq/

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DELTA - WHEN THEY SAID THAT THEY WILL ISSUE LARGE CASH CATEGORIES THEY ARE TALKING HERE ABOUT A SMALL NOTE WITH HIGH PURCHASING POWER!!!  THEY ARE TELLING US THAT THIS IS AN IMPORTANT STEP ON THE ROAD TO MONETARY REFORM!!! …THEY WILL COME OUT WITH A NEW 50 = $43…IT’S VERY CLEAR THAT IRAQ CAN’T COME OUT WITH 50000 NOTE!!!
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Enorrste - My personal view is that the exchange rate regime must be the first element in the overall project.  Obviously you cannot remove the large notes until the value has risen to make them too valuable to remain on the streets, and the change of the exchange rate regime is the method to get the value to begin rising.  So I believe that I am on solid ground in saying that the change in the exchange rate regime is “next up” with respect to the “project” implementation. …I see entry into Article 8 and the passing of some of the laws as secondary to the actual change in the exchange rate regime.  Clearly moving to Article 8 must come after the exchange rate regime change and the passing of the laws could occur either before or after the change in the regime. 

I remain generally optimistic.  I cannot discount the reality of the ISIS threat to Iraq’s security.  At the same time, however, I am emboldened by statements that have come out indicating that the head of the CBI has given the “green light” on the “project.”  For me, this latter comment must take precedence over the more general “security situation” discussion by others in the government who are not “in charge” of the implementation itself.  Therefore, I finally fall on the side of the argument that says that there really is only a perception of delay due to our American way of seeing things rather than that the plan itself has been put on hold or that a “towel has been thrown in” for the time being.  I see no direct evidence of that and will stick with the CBI director’s statement about the “green light” until I see direct evidence to the contrary from him or from the CBI.

The introduction of the 50000 note will make it possible within a couple of months to remove a large number of the 25000 notes and probably almost all of the 5000 notes.  …25000 notes constitute the vast majority of the overall currency in circulation, so their removal will cut in half the pieces of paper in circulation.  Add to that the 5000 dinar notes and, presumably, some of the other 3 zero paper, and we will be well along toward achieving the reduction that the CBI wants in the amount of paper on the street.  I could see this happening within the next 90 to 120 days, which would put us into the early fall.  At that time I would “hope” to see the announcement of the change in the exchange rate regime
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Millionday - [the 3s was referred by the article...about wanting to bring the currency back to the 80's to what it was?]  THAT IS WHAT IT WAS IN THE 80`S AND IT WAS A LONG TIME AGO WHEN SALEH STATED THAT WAS THE PLAN — BUT OH BOY HOW GREAT WOULD THAT BE…   IT IS IN THE HISTORY — BUT WHO KNOWS IF THE CHANGES IN OIL ETC. HAS CHANGED THE PLAN HE WAS REFERRING TO…BUT THE HIGHEST IN THE REGION HAS ALSO BEEN BROUGHT UP MORE THAN ONCE SO — ALL VERY EXCITING TO SAY THE LEAST… WE DONT KNOW THE RATE BUT THEY HAVE BROUGHT UP SOMETHINGS THAT LEAD ANYONE TO BELIEVE THAT THEY HAVE HUGE PLANS FOR IRAQ IN THE REGION.
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home7

Iraqi Dinar/Dollar auction 10-5-15

Currency Auctions Announcement No. (2948 – the most recent listing)

This daily currency auction was held in the Central Bank of Iraq on the 10-May-2015

The results were as follows:

DETAILS NOTES
Number of banks 17
Number of remittance companies 1
Auction price selling dinar / US$ 1166
Auction price buying dinar / US$ —–
Amount sold at auction price (US$) 146,902,904
Amount purchased at Auction price (US$) —–
Total offers for buying (US$) 146,902,904
Total offers for selling (US$) —–

Read More: http://dinarupdates.com/blog/
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Millionday - [is there any time frame for this to go down?]  THEY ARE BEING PUSHED TO GET IT ALL DONE IN A HURRY — THEY WERE WITHOUT HOLIDAY AND TOLD TO GET IT FINISHED BUT I HAVE NOT SEEN A COMMENT ON DAYS OR EXACT TIME FRAME — IT APPEARS WITH SO MUCH HAPPENING NEXT MONTH — THEY MUST BE UNDER THE GUN TO GET IT DONE HOWEVER.
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BGG - [I still can't understand why there's a 50k new dinar note.]  there isn’t – it’s going to be a 50 Dinar note with the “value of” a 50k note.
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tman23 - The point to be made…….. Name  ONE CENTRAL BANK in the world that informs their citizens on the ‘currency” the way Iraq Central Bank does……. There are none……….AND it is for that reason “the cat and mouse game”…… makes the speculation much more reasonable that Iraq monetary reform is much more than a neutral event….
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Check out the Dinar Corp 120+Max – it’s EQUITY!!

Commercial Solicitation

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wmawhite - For those of you that are looking for an announcement of the RI/RV or think that there is a button to push, we may have already been informed of a pending change in the value of the IQD the same way the citizens have been informed. And what do I speak of? It is this 50 and 100 note announcement that the Governor of the CBI made two weeks ago. Yes,…50 note of like value. This is Iraq way of telling their citizens that change coming [in?] MAY.
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Poppy3 - …THE MAIN PEOPLE THAT ARE ACTUALLY THE DECISION MAKERS ARE ALL STILL SAYING THEY ARE GETTING IT ALL DONE THIS MONTH AND I HAVE TO ADMIT THEY HAVE BEEN STICKING TO THEIR WORDS LATELY SO I AM STILL PRETTY PUMPED ABOUT THIS MONTH. LOTS OF RUMORS AND VERY FEW FACTS FLYING AROUND THIS WEEK BUT THE MAIN PEOPLE ARE STATING GOOD STUFF. TIME WILL TELL.
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Jester - IT IS A VERY COMPLEX AND COMPLICATED SCENARIO WHICH ALL I CAN DO IT TELL YOU IS MOVING ALONG… AND THERE ARE TWO TIMELINES… THE US IS THE DECIDER OF THAT PATH…. AND WE ARE NOT IN THE KNOW ABOUT IT.  THE US CONTINUES TO PLAY THE GAME… SO ALL WE CAN DO IS WAIT AND SEE WHAT THE OUTCOME IS
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Breaking News Spokesman of PM Office stresses necessity of broadcasting correct news about battle against ISIL

Spokesman of PM Office stresses necessity of broadcasting correct news about battle against ISIL

Baghdad (Forat) –The Spokesman of the Prime Minister’s office, Saad al-Hadithi, said that “It is necessary to broadcast correct information by the media outlets over the battle against the Islamic State of Iraq and Levant terrorists.” /End/

Read More: http://dinarupdates.com/blog/
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Enorrste - Article quote:  “Parliamentary sources and others close to the Iraqi Central Bank, said that a government committee concluded that a competent decision new cash paper currency printing of fifty thousand dinars category ($ 42), in light of the challenges facing the Iraqi dinar and the strength of local and global market.“   [it is hard to assume the CBI is doing anything right when we both have watched since late 2012 as they failed miserably with sustaining a market rate within the 2% spread.] It is true that the spread has changed, but that was due to Parliament sticking its nose in the CBI’s business, not an error on the part of the CBI itself.  More importantly, though, the actual offical rate has remained the same for as long as I have been in this investment, in spite of a rising money supply, ISIS, and lower oil prices. 

In addition, the IMF and World Bank have praised the CBI on numerous occasions with their efforts to get back into the “real” world, even though, admittedly, even the IMF is a little frustrated at the pace of change.  However, even that can largely be thrown at the feet of Maliki who stuck his man in the CBI, thereby bringing to a halt for nearly 4 years a plan that otherwise would have been implemented by now.  Therefore, I have confidence that the CBI is on track.  They deeply desire to have “consensus” in their actions, which is probably the cause for some of the delays from our point of view.  That may just be the Iraqi way of doing things.  But what is clear to me is that they are plugging along in the same direction, and this article is particularly pointed toward their goal.
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Ocrush - The 1.5% world bank loan that will be distributed in July to Iraq is based on a credit rating of A! It’s the length of time that was given to them (35 years) that gives them that rating and not lower!  The theory is that Iraq has to have a strong currency to have a credit rating of any kind, much less an A.  SO, connecting the dots!   RV = A rating = above loan IN JULY!  SO, an RV before then.
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Randy Koonce - DO NOT LISTEN to the stuff calling for any in country anything…This is just an RV. What does that mean…That means that Dr Shabibi will go to a computer and change the number on the CBI computer to a number that has a 3 digit decimal and when that happens it will take about 2 min to go across the globe…That is it…nothing more… no global restructuring.  We are in the same spot since Jan. 1st of this year…If you check the CBI.IQ and there is still 1166 they could turn in money, but they are not cashing in anything.  DO YOU KNOW THAT THE IRAQIS DO NOT CASH IN.  THEY JUST GO AND PUT IT IN THE BANK AND GET A SMALLER BILL… THE DINAR TO THEM STILL HAS THE SAME VALUE.  25000 DINAR AFTER THE RV IS STILL 25000 DINAR…NOTHING CHANGED… THAT BILL NOW BUYS MORE… THEY DO NOT CASH A BILL IN AND GET US DOLLARS…WE DO THAT.  THERE IS NO GLOBAL CHANGE THAT WILL TAKE PLACE AFTER THE RV– JUST COUNTRIES THAT HAVE DINAR NOW CAN USE THE DINAR ON THEIR BALANCE SHEET…

The CBI did say that they were going to drop the zeros from the bills in the month of may. OK dropping the zeros… as some say it changes the value of the bill… but it has nothing to do with rate.  So DRopping Zeros to Iraq and to the CBI, and this is coming from Shabibi directly, is that he wants to get the large bills off the streets of Iraq and that is it.   So for the Guru who believes it is coming out Low around 10 cents and floating up they need to learn to read a budget… and the last two budgets would implode at a 10 cent rate… and Iraq learned from Kuwait about the float, and that damaged kuwait because of materials they would try and get in…  Obama has still not allowed Iraq to change the rate at the bank. Iraq has screamed at our president to let their money out.. and so far to no avail.  BE SMART…JUST RELAX and breathe.  Every large bank will exchange. We are close…just check the CBI…every day to see if it has changed.
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The Investment Law Is likely To Be approved During The Current Legislative Term

Deputy Chairman of the parliamentary Committee on Economy and Investment, Harith al-Harthy guessed approval of the investment law by majority during the current legislative term.

He told the National Iraqi News Agency / NINA / “we regret the delay in forming the investment law after the second reading, adding that “there are simple notes and change with some of the points, and will be reprinted that does not affect the law.”…

More: http://dinarupdates.com/blog/
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wmawhite - [since Parliament didnt do much today...and supposedly not having another session till the 19th.. any comment?]  I have never believed this event is tied to Parliament’s actions or lack of action.  The CBI introducing the IQD to the world currency markets and the confidence of investors placing their money into an Iraqi bank (investment law) are two separate and different items.
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Poppy3 - PARLIMENT HAVE BEEN ORDERED TO STAY IN SESSION UNTIL WORK IS COMPLETE ON FINANCIAL REFORM . THEY HAVE BEEN WORKING THROUGH RELIGIOUS HOLIDAY’S SINCE LAST AUGUST.   I WOULDN’T WORRY ABOUT CUSTOMARY BREAKS SOME REPORTER THINKS WILL TAKE PLACE.   ABADI WANTS AND NEEDS THE GOI TO HAVE RV AS BAD AS WE DO RELAX HE IS A WORKAHOLIC AND I SUSPECT REWARDS VERY SOON. 
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Millionday - Article quote:   ”The World Bank seeks to help Iraq in its current crisis, which caused big losses to him, hoping that the bank provides loans that will be of great financial and economic interest….the loan would help Iraq to cross its financial crisis this year and the next two years that can be played by and recover a record time…the launch of this loan by next July…”  HUGE INFO — THE WORLD BANK IS PLANNING ON HELPING FOR THE NEXT TWO YEARS AS IRAQ CROSSES THE FINANCIAL CRISIS OFF THE LIST AND RECOVERS IN WHAT THEY REFER TO AS RECORD TIME — SO THEY ARE EXPECTED TO HAVE ACCESS IN JULY AND OBVIOUSLY FOR RECONSTRUCTION AND TO BRING IN MUCH NEEDED SERVICES AS AREAS ARE MADE SAFE AND NOT A WASTE OF INVESTMENT BECAUSE OF TERORISM OF COURSE.  SOUNDS LIKE IRAQ IS BEING SEEN AS THE BIGGEST OF THE BIGGEST BY THE MOST INFLUENTIAL — CANT BEAT THAT!   I HAVE TO SAY — WHOOOPOW. 
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Oil row boils over as Baghdad ‘refuses’ KRG’s full share

BAGHDAD - Iraq’s central government has refused to send the Kurdistan Regional Government (KRG)’s share of oil revenue for the month of April which were previously agreed to, sources told Rudaw on Thursday.

“Iraqi Prime Minister Haidar al-Abadi will not approve a payment which equals the total amount of oil sold by the KRG at the Turkish Ceyhan port last month,” the source said on condition of anonymity because he was not authorized to speak to the media.

The source said Baghdad will not include the export of oil from Kirkuk’s fields into the KRG’s share of the total revenue, deepening a long-standing disagreement between Erbil and Baghdad…

http://www.dinarupdates.com/showthread.php?15464-The-Dinar-Daily-Friday-May-8-2015&p=108674&viewfull=1#post108674
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wmawhite - …in order for that new 50 IQD note to have the same buying power of $43.00 the price of goods/market place will need to drop a 1,000%. in order for that to happen the value of the IQD, which is buying those goods outside of Iraq will need to increase in value several times greater than the 1,000% needed inside of Iraq.
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tman23 - WE know July…the start of the second semester of the financial year they are starting NEW BOOKS…and these books are not going to include 3 zeros… Hakim’s public announcement…A STORM IS COMING.
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Poppy3 - FRIEND OF MINE CALLED…HE WORKS FOR HALIBURTON AND SAID A FREIND DOING EXPLORATION IN IRAQ TOLD HIM THEY HAVE FOUND A COMPLETELY NEW OIL FIELD NEVER PUMPED BEFORE AND NEVER EVEN MAPPED.   MORE RESERVES. 
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Afternoon Dinar Drive Call!!

Info w/BGG – from 5/7 

Click on the call banner in the upper right corner!!

Smart phone user link – Click here

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Mnt Goat - More on the new 50 and 100 thousand notes…these notes are for very large interbank transactions and large purchases and will eliminate having to carry around suitcases of the lower denominations (5,10,20,100,etc) once the new lower denoms are…issued and the RV pops…they confirmed for us that these large 50,000 and 100,000 are in fact not for general use by the citizens. They are a necessity and an integral part of the plan to RV.  It looks like for some reason they intend to hold off on the 100,000 note for now until further notice. My guess is because to would be too easy to smuggle money out of the country using these very large notes.
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Millionday - THEY ARE GOING TO RELEASE THE REAL RATE FOR THE DINAR IN THE COMING PERIOD – THIS APPEARS TO BE THE INTERNATIONAL EQUATION RESULT FOR THE ACTUAL RATE FOR THE DINAR – IT SAYS NOTHING ABOUT BEING AT A FLOAT OR FIXED OR ANYTHING IN BETWEEN — JUST THAT THE REAL RATE WILL BE RELEASED.  CBI INCREASED THE LIQUIDITY TO GET TO THE POINT THAT THEY CAN REMOVE THE THREE ZERO CURRENCY… ACCORDING TO…REPORT…THE REAL RATE OF THE DINAR IS GOING TO BE RELEASED IN MAY… THIS IS GREAT NEWS AND A GREAT PLACE TO BE IN.
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Mnt Goat - The news is just pouring out of Iraq and it is all good and much in our favor that something is brewing in this RV saga. Yes -  it is heating up. I am very excited! You should be too…It is now only 3 weeks until June.  Will this go until June/July. Yes and the news is telling us it most likely will…  I am not setting a date but I am saying Iraq needs to address demands made by the USA prior to any RV and honestly I do not see any chance of this completing until the June/July timeframe.
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Haider Al-AbadiVerified account
‏@HaiderAlAbadi

PM Al-Abadi stressed Baghdad’s commitment to oil agreement with KRG during meeting with Deputy Speaker Aram Mohammed 


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Aggiedad77 - Article:  “Parliamentary Commission of Economy confirms Cancel to delete the zeros and replace it with the currency of 50 thousand dinars category“   Keep in mind this is NOT the CBI talking here…but someone from the Economy and Investment Committee that is claiming the 50k notes will be printed in lieu of deleting the 000′s…I just don’t find any basis for this kind of action on Iraq’s part at this time other than to cause confusion with people…no this makes no sense at all when the CBI has been talking at least since 2012 of the 000′s removal…and as late as March they were given the green light to do so.
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Adam Montana - [Has Iraq become Article 8 compliant...Isn't this a stipulation that has to be addressed before anything can move forward?]  Article 8 isn’t as important to the RV as some make it sound.  With that said, I get the feeling it is on the back burner at this time, and that doesn’t bother me at all.
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Breitling - Printing the 50K note…even if they come out with a 100K note or a 250K note on down the road…what does it do to us?  It limits how far the dinar is going to revalue.   The information I got at the beginning of 2014 was that you and I would be able to sit on our currency as long as we want and get to the dollar or 3 dollar mark…putting up the 50k note reverses that policy.  So instead of a 50k not getting to a dollar we’re looking at 40 to 50 cents range…timing is going to take a little longer but its still going to go down the same road so you don’t need to be worrying about that…They are still reducing the note count and this is a way to do it.  But they are also reducing the amount of dinar.  This basically puts a cap on where you and I can cash out on and extends the time on when they are going to start adding it’s full value.  They will start adding value…they will.  You have to adjust.
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Just bid farewell to President #Barzani after his successful official visit to Washington, DC. #TwitterKurds

Embedded image permalink

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wmawhite - I believe there are reasons to expect to see a change in the value of the IQD at any moment
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Kaperoni - the term “real exchange rate” does not mean literal…real exchange rate is the cost of goods for same items in another country… example how much dinar for 3 bottle of wine…the exchange rate we care about is called the nominal exchange rate.
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Millionday - [if they are going to go back to the 3 dollar plus rate...then why the 50K note..or 50 note...wouldnt that put that dinar note worth about 150 dollars? if it was 86 cents...that would make it about 43 dollars?]  THE 86 CENTS COMES FROM THE 00086 THAT THE RATE IS NOW AND ALL THAT WAS DONE BY PEOPLE THAT Are STATING THAT IS THE RATE IS THEY KNOCKED OFF THE THREE ZEROS – THIS IS NOT — I REPEAT NOT — THE INTERNATIONAL EQUATION — IT MAKES NO SENSE IN CALCULATING THE INTERNATIONAL TRADE RATE FOR THE DINAR.

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Iraq introduces a coin 50 thousand dinars category

Iraq introduces a coin 50 thousand dinars category

Parliamentary sources and others close to the Iraqi Central Bank, said that a government committee concluded that a competent decision new cash paper currency printing of fifty thousand dinars category ($ 42), in light of the challenges facing the Iraqi dinar and the strength of local and global market. -

More: http://dinarupdates.com/blog/
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wmawhite - Regardless of how this is going to roll out…it is good to understand that most of us believe we are closer than ever before.
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Poppy3 - LOTS GETTING DONE.  INTERESTED FOR SURE IN…THE PRIVATE CLOSED DOOR MEETING TODAY [WEDNESDAY] AND PARLIAMENT MEETING TOMORROW [THURSDAY].   QUESTION IS HOW MUCH PROGRESS AND WHAT IS THE REASON SENIOR WORLD BANK EXECUTIVES ARE IN ATTENDANCE??  AS WE KNOW TEMPORARY HCL IS IN PLACE AND A SPECIAL GROUP HAVE BEEN STUDYING A PERMANENT SET OF HCL RULES INCORPORATED WITH OTHER LAWS OF PROTECTION FOR ALL.
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Kaperoni - back in 2012 the CBI decided to float the dinar.  As Dr. Bakri said…the “specialists look at the long term”  [the CBI has NEVER stated there will be a float.]  actually…they did.  let me get a quote from the CBI:  “A source at the Central Bank of Iraq for four companies currently competing to win a draft print the new Iraqi dinar, which will generate graceful after deleting three zeros from him, while Samay central bank to raise the value of the dinar against the dollar gradually down to the day to start replacement where the value will be in the absence of a fluctuating one Iraqi dinars equivalent to U.S. dollars one.“  Let me point out what is said here…”to raise the value of the dinar against the dollar gradually.“   The IMF is very direct and clear in the 2013 Article IV consultation…they also say gradual appreciation.  …it will never overnight RV. 
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Check out the Dinar Corp 120+Max – it’s EQUITY!!

Commercial Solicitation

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wmawhite - For those of you that are looking for an announcement of the RI/RV or think that there is a button to push, we may have already been informed of a pending change in the value of the IQD the same way the citizens have been informed. And what do I speak of? It is this 50 and 100 note announcement that the Governor of the CBI made two weeks ago. Yes,…50 note of like value. This is Iraq way of telling their citizens that change is coming.

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Backdoc - WE HEAR THE WORLD BANK CALLING FOR IRAQ TO DIVERSIFY AND ACTIVATE THEIR PRIVATE SECTOR!  THEN TODAY WE SEE AN ARTICLE THAT ADMITS ACTION TAKEN BY THE CENTRAL BANK THAT WILL GRADUALLY RAISE THE VALUE OF THE DINAR.  NEXT, WE HEAR THE COUNCIL OF MINISTERS SAYING THEY ARE SERIOUS ABOUT ACTIVATING THE PRIVATE SECTOR. THEN WE HEAR OF A TWO DAY HOLIDAY THAT STRETCHES INTO A 7 DAY HOLIDAY.

THEN WE SEE AN ANNOUNCEMENT RELEASED BY THE CBI THAT REASSURES ALL BANKS THAT ARE PROPERLY LICENSED WILL BE ABLE TO BROKER THE EXCHANGE OF FOREIGN CURRENCY!!  THEN TODAY WE SEE AN ARTICLE THAT ADMITS ACTION TAKEN BY THE CENTRAL BANK THAT WILL GRADUALLY RAISE THE VALUE OF THE DINAR.  THANK YOU TOPSHELF…I LIKE THAT 3.93 ZIP CODE…!   AND ONE MORE THING THE FINANCE COMMITTEE DENIES THE GOVT. FROM PUTTING THEIR HAND IN THE COOKIE JAR AND SPENDING THEIR RESERVES!
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Topshelf  - First…the CBI spreadsheet is up-to-date…within 3 days…they are spending money…and they are paying on contracts… and by paying it…that increases the value of certain currencies.  One is removing debt…but it’s also how they got the money to pay for the debts…and made trillions off of it.  Contracts being paid are in US dollars and some people thought if that happened that would be the end of this investment.  I’m here to tell you that was the best part of this whole thing.  Dr. S [Shabibi] is superman!  February 19th was the last auction.  …auctions have been going on…they never stopped. They have been hiding it. There’s data…it’s been ongoing and now it’s public anyone can view it.  They have created the LIQUIDITY…that they needed…they paid off debt based on the contract amount. Not based on people hedging or making this an investment.

The .10 cent number goes clear back to the beginning of January…and it’s based on contract amounts. Remember… when Delta..said … “…1166 is gone from the spreadsheet.”  Ever since that day we knew that they were doing the mathematics. Why? Because they got the Green-Light like a month before that!  The 3 zeros are being lifted right before your eyes…off of the exchange rate! It started at .10 cents and went around .85 to 1.17 and now it’s at this level…  One of our sources called…it appears that certain “things”  with the bonds in Iraq …the IMF…CL…seem to coincide with the area code calculations… [393].  “AREA CODE” is a code for the number [rate] that you seek.”  Do you know what is about to happen?   I know…silly question. Of course you do…info is coming in so fast.  This is the same thing that happened with the monetary reform of the Kuwait dinar in the late 90’s.
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CURRENCY CODE SELL BUY

US dollar USD 1166.000 1164.000

CURRENCY CODE SELL BUY
US dollar USD 1166.000 1164.000
Euro EUR 1309.418 1308.763
British pound GBP 1775.235 1774.347
Canadian dollar CAD 970.938 970.453
Swiss franc CHF 1262.178 1261.547
Swedish krona SEK 140.347 140.276
Norwegian krone NOK 155.643 155.565
Danish krone DKK 175.412 175.324
Japanese yen JPY —– —–
Special
Drawing Rights
SDR 1638.277 1637.458

Indicative rates – 07.05.2015

http://www.cbi.iq/

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Adam Montana - [How does Iraq's request for a sovereign credit rating impact on the RV?  Will this help to speed things up?]  That’s a good question, and it could go many ways. One possibility is that once the credit rating is started, they RV, and obviously the credit rating agencies will be in a rush to get Iraq listed. It’s a lot easier for the world to benefit from Iraq when they have a higher valued currency and are listed as a tradable currency. If anything, I see this as a booster, not an anchor.
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BGG - I can already see the next question. Why new currency (a 50 IQD worth $43 US) and what happens if they leave us out (The old currency – three zero notes)??… My answer to you is simple – they cannot. The GOI, you and I are in the very same boat. We all hold Dinar owned by the CBI. It would be highly, highly, highly improbable. The WB, IMF, etc, etc, will not allow the GOI to help themselves to a big bump in spending power (thereby helping to bridge their budget issues for 2015) and leave us (and the rest of the world) out of the mix. I just don’t see that happening…
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Millionday - Article quote:  “…economic academic Dr. Majid Baidhani that the dinar exchange rate against the dollar will soon return from rates over a short period due to the slow recovery of oil prices…“   THE DINAR EXCHANGE RATE WILL RETURN AGAINST THE DOLLAR OVER A SHORT PERIOD OF TIME.  THEY BEGAN TO CALCULATE THE REAL EXCHANGE RATE IN MARCH AND DUE TO THE SUCCESS IN DAASH VICTORIES AND THE PRICE OF OIL RAISING — THE REAL EXCHANGE RATE WILL BE RELEASED IN THE COMING PERIOD…WHOOOPOW.  THIS WOULD BE A REVALUE OF THE DINAR. SALEH STATED A LONG TIME AGO WHEN HE WAS TALKING ABOUT THE GOAL OF THE ECONOMIC CONDITION THEY WERE WORKING TOWARD FOR IRAQ WOULD BRING THE DINAR EXCHANGE RATE BACK TO CLOSE TO WHAT IT WAS IN THE 80S.  IN THE 80S — AND UNTIL THE IMPOSED RATE WAS PLACED IT WAS IN THE 3S — BUT THEY ARE STATING THE REAL EXCHANGE RATE SO THAT HAS NOT BEEN RELEASED BUT IS CALCULATED THROUGH THE INTERNATIONAL EQUATION AND HAS A GLOBAL FORMULA.
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Check out the Dinar Corp 120+Max – it’s EQUITY!!

Commercial Solicitation

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Adam Montana - [What do you think will come of the visit from the World Bank to Baghdad? What rating do you think will be issued to Iraq?]   Visit from the World Bank…If it’s significant, we’ll know soon enough I doubt Iraq will get a top rating immediately, but anything “above mediocre” will be enough to launch them!
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wmawhite - [if they print a 50,000 note that cant affect the rate can it?]  …if the CBI comes out with a 1,000,000 IQD note it will look pretty bad. BUT wait…what is the likihhod of them doing that?   Zero…same as a 50,000 note and 100,000 note.  And why do I say this is because if they were going to issue a 50,000 IQD note WHY would they explain that it has a like value of 50,000 IQD…won’t they already know this? This is why it will not be a 50,000 IQD note.
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Adam Montana - [how close to this being over do you think we are? Also any more news on the credit rating process, is it going to take along time to get the rating considering this is Iraq we're talking about!?]  No further news on the credit rating yet… but that’s not the most important thing in my opinion. It’s still the HCL that we’re looking for, and if the KRG and Baghdad continue to get along like peaches and cream like they are right now – it can’t be too far off.
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Last night’s working dinner w/DepSec Blinken, GEN Allen, & Pres. Barzani’s delegation. Key topic: defeating #ISIL.

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wmawhite - [What's your vibes for an RV this month?]  I believe that the CBI is telling us as much as they can…by telling the citizens that they will be seeing the new 50 and 100 IQD notes. None of this is possible without the value of them IQD changing significantly outside of Iraq.
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tman23 - Just expect to see a picture of the new 50,000 note in the coming days…If there are 3 zeros on that note…This venture is over…If there is the number 50 with a solid block after the 50# to the corner of the note…were still in the game!!   You bet we all are hopeful…and after the 15th…it is everyday eyes wide open!!

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Aggiedad77 - Article:  “Balaguetsadah parliamentary: Member of Iraq on the verge of an economic breakthrough and no fear on the employees’ salaries“  A member of the Economic and Investment Committee states that she believes Iraq is on the verge of an economic breakthrough…that is being brought forth partially by high oil prices….and that such an event will definitely lead to security with regard to payment of employee salaries…they again state the reserves exceed $60 billion dollars and they have in excess of 80 tonnes of gold.
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CURRENCY CODE SELL BUY

US dollar USD 1166.000 1164.000

CURRENCY CODE SELL BUY
US dollar USD 1166.000 1164.000
Euro EUR 1296.242 1295.594
British pound GBP 1764.391 1763.509
Canadian dollar CAD 968.439 967.954
Swiss franc CHF 1248.795 1248.171
Swedish krona SEK 138.962 138.892
Norwegian krone NOK 153.447 153.371
Danish krone DKK 173.649 173.562
Japanese yen JPY —– —–
Special
Drawing Rights
SDR 1631.327 1630.512

Indicative rates – 05.06.2015

http://www.cbi.iq/

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Adam Montana - …Iraq announced they would be applying for a credit rating from multiple major sources…that’s some of the best news I’ve heard in a LONG time, and there won’t be many more that big until the HCL is permanent.  On that note, let’s talk about HCL for a second. As of last week, we had extremely solid news that the KRG and Baghdad are skipping along, arm in arm, like never before. The news was a little misleading, as it sounded like they were already exchanging at above the expected rate in BPD.  …while the Kurds are on their way to exceeding the expected amount, they are actually working their way up to that number:  Quote:  “… parliamentary member Awad al-Awadi said the oil agreement between the federal government and the Kurdistan Iraq was applied gradually, but until now did not reach the level of the export of 550 barrels per day...”  Of course, none of it matters until we can go exchange for a lot more $’s than we currently have. As of right now, the ship is still heading in the right direction, so… we wait.
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Jester - IT SEEMS TO ME THAT THE END COULD BE… AND PROBABLY IS… NEARLY READY TO GO… I AM HEARING THAT IT COULD BE READY TO GO AS EARLY AS MID TO END OF JUNE… ABADI IS…TALKING ABOUT GETTING THINGS DONE. THE FACT OF THE MATTER IS THE END IS NEAR… ONE WAY OR THE OTHER THIS THING IS GOING TO MOVE FORWARD.
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Poppy3 - …I WAS LISTENING WHEN ABADI ASKED THE PEOPLE TO BE PATIENT AND ALL WOULD BE DONE BY JUNE.  I THINK HE MEANS REFORM WILL BE COMPLETE THIS MONTH. FINE BY ME.
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Check out the Dinar Corp 120+Max – it’s EQUITY!!

Commercial Solicitation

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Kaperoni - Article quote:  “the issuance of more than the limit established Iraqi groups will lead to the low level of the Iraqi dinar against the dollar and other currencies as well as increased financial and economic inflation in Iraq, which is already suffering a financial and economic crisis stifling.“   Of course, the Iraqis are as confused as we are…and this guy is right…if they were to print (they are not) a 50,000 dinar note and release it, it would increase the money supply, cause the dinar to depreciate in value and the result would be higher inflation.  Not to mention, it would not solve any issues they have pertaining to advancing the economy and banking system.  As we said many times, this would be outright stupid.    Since there are so many articles on this topic, we can only assume this is some creative way to notify citizens of some pending change…but we will all have to wait and watch.

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BGG - [The question is...How close are we to that tipping point?]  as far as Iraq is concerned – very.  [very...is that closer than soon?] VERY.
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wmawhite - ...the loans that the IMF is making to the GOI has nothing to do with the CBI introducing the IQD to the world currency markets. These are two totally different events.  Question: who owns the Iraqi Dinar? look on the notes you have…answer: CBI.  Iraq needs the ability to have a citizen travel to any country in the world a walk into a bank with a certified check drawn on an Iraqi bank and open an account in that country. Just as an American, British, French or whoever can do today.

[what would that take to do so?] It would take the CBI to announce to the world that its currency will be treated as any other and that the CBI will start paying foreign remittences/bills with the IQD. In order to do so the CBI would announce that the true value of the IQD compared to other currencies is such and such.  [...a call earlier...stated iraq requested to go international on Thursday. Any truth/thoughts on this?] IMO…the CBI doesn’t have to request jack from anybody…when it decides it is best to do so it will tell the world what the rules are for the IQD. 
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home7

Iraqi Dinar/Dollar auction 5-4-15

Currency Auctions Announcement No. (2944 – the most recent listing)

This daily currency auction was held in the Central Bank of Iraq on the 4-May-2015

The results were as follows:

DETAILS NOTES
Number of banks 18
Number of remittance companies 1
Auction price selling dinar / US$ 1166
Auction price buying dinar / US$ —–
Amount sold at auction price (US$) 172,198,000
Amount purchased at Auction price (US$) —–
Total offers for buying (US$) 172,198,000
Total offers for selling (US$) —–

More: http://dinarupdates.com/blog/
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Millionday - CBI HAS STATED THAT IRAQ IS READY TO MOVE FORWARD — THE GREEN LIGHT – LOVE THE GREEN LIGHT.   PARLIAMENT IS MOVED TO THURSDAY AND NO MENTION OF THE HUGE LAWS THEY ARE HUSTLING TO GET DONE ALL AT ONCE – SO THIS IS SOMETHING WE SHOULD WATCH FOR AND EXPECT – NEWS SHOULD BE COMING OUT ABOUT WORLD BANK AND THE DELEGATION OF COURSE –  AND MOST IMPORTANTLY — WE ARE SICK TO NO END OF WAITING — SMILE.
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tman23 - I was told Saturday that Abadi met with “committees” and “described” the removing of the zeros from the currency process.  THIS WOULD NOT BE DONE IF THE PROJECT TO REMOVE 3 ZEROS WERE DELAYED OR CANCELED. 
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wmawhite - Remember…the CBI can tell everybody inside Iraq something is now worth whatever but it will not matter IF…IF…the prices on the shelves do not change. The only way the prices of goods change is if the international exchange rate of the IQD increases DRAMATICALLY…the key is the value of the dinar OUTSIDE of Iraq…because the dinar is worth a dinar inside…Iraq imports 90% of all goods. The 1166 has to change ALOT!   [can they drop the 3 zeroes in-country only? change the prices (use the new bar code) to reflect this change in value and not be in effect outside of Iraq?]  the term “three zeros” … “delete three zeros” have different meanings depending on the context it is used in…but none of these lower notes will work without a change in the value outside of Iraq.
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Kaperoni - Article quote:  “the Ministry of Finance and the General Customs Authority refused to reverse the decision to apply tariffs despite the protest traders and demonstrations that have occurred in some southern ports…“   Sounded like they were going to hold off on tariffs (at least in some areas), but now this article is matter of fact…tariffs in effect in all areas.

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House of Representatives decides to hold two sessions Wednesday and Thursday

BAGHDAD / newspaper Alastqamh - I decided the Presidency of the Council of Representatives, Monday, held two Aotaiadetyn Council on Wednesday and Thursday.

According to a parliamentary source said “the Presidency of the Council of Representatives decided to hold two sessions of the Council on Wednesday and Thursday in compensation to the sessions next week, which will commemorate the martyrdom of Imam Moussa al-Kadhim ceremony,” peace be upon him “in Baghdad…

Read More: http://dinarupdates.com/blog/
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Poppy3 - ABADI HAS STATED REGARDLESS OF HOLIDAYS OF ANY KIND THEY WILL NOT STOP OR POSTPONE ANYTHING TO DO WITH COMPLETING FINANCE REFORM.  
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Aggiedad77 - Article:  “Iraq is seeking to apply for a loan from the International Monetary after the deficit estimate by about $ 25 billion“  Family I want to point to something that looks crazy with today’s news…all this talk today about money from the IMF…it all sounds like it just happened today…this discussion about loans…this has been an ongoing thing for weeks, maybe a month or better nowwhy present this in such a light today as though it was a newly discovered idea…this is old news…really old news…muddy waters tell of a storm to come…they tell of a flood that is on its way…the mud pushes ahead of the bigger event giving warning to all in its path…this could be like a warning of the good that is headed our way.

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Millionday - Article quote:  “Governor of the Central Bank announced on the Keywords, on Monday, the deletion of zeros existing project, as pointed out it was given the green light for its implementation…“  THE PROCESS OF THE DELETION OF THE THREE ZEROS HAS BEEN GIVEN THE GREEN LIGHT AND HAS BEEN ANNOUNCED IN A PRESS CONFERENCE – THIS PROCESS WILL TAKE A COUPLE YEARS BEFORE ALL THE BILLS WILL BE TAKEN IN AS EXPECTED — ACCORDING TO THE GOVERNOR OF CBI (WHO HAS THE INDEPENDENT POWER TO DO SO) THAT THE PROJECT HAS BEEN GIVEN THE GO AHEAD TO BEGIN…OBVIOUSLY CBI AND OTHERS…BELIEVE THAT IT IS A GREAT TIME — THIS IS THE ANNOUNCEMENT THAT IT IS TIME (GREEN LIGHT) – WHOOOOPOW.

[2 years to complete...are we looking at a float then or just that it will take that long to get all the notes off the street?]  JUST THAT IT WILL TAKE THAT LONG TO GET THEM ALL BACK OUT OF CIRCULATION WHICH IS NOT UNCOMMON WITH A SERIES CHANGE – IT NORMALLY TAKES SOME TIME TO GET THEM ALL BACK IN. THE RATE WILL BE SET AND THE EXCHANGE OF THE BILLS REPRESENTING THE AMOUNT OF TENDER HAS NOTHING TO DO WITH THE GAIN IN VALUE — LOTS OF THINGS MAKE ME FEEL AS THOUGH WE ARE CLOSE…

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Breaking News Parliament to vote on Federal Court Law next Wednesday

Parliament to vote on Federal Court Law next Wednesday

Parliament to vote on Federal Court Law next Wednesday

Baghdad (Forat) – Parliament Speakership decided to present the Law of the Supreme Federal Court for a vote during next Wednesday session. /End/

Alforatnews.com

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wmawhite - I do not know how much…other than believing it will not be 1166… Remember, the exchange rate is ONLY relative to currencies outside of Iraq…it doesn’t apply to inside.  In other words…when we see something written about the costs of the dollar or dinar those are stories about the street exchange/buy/sell…not what we are waiting on.
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Frank26 - When Abadi went to DC…he went to see various departments. Now the articles come out supporting what Abadi asked for. Now M [Maliki]  seems to be in a coma?  Wasn’t that one of the things Dr. S [Shabibi] asked for…[security]?  M needed to be contained to secure Dr. S security.  Now articles appear to support that.  Dr. S goes to see a lot of Central Bank governors…bouncing from country to country…central bank to central bank because he was given the “green-light” and the security to do what he needed to do.   Dr. S had an incredible meeting with a dear friend who he associated with at the IMF & WB…(Jens). Dr. S needed “bonds” asap so Jens opened the door for him.  The problem is the bonds are still showing at 1166 but they are now in “position.”  When Abadi went to DC he got a lot of things and a new credit rating was one of them.  As you know you need a good credit rating before you can sell bonds.  The rating…it’s a sovereign rating.  Jens moved a lot forward… QUICKLY  for Dr. S.  Iraq went up to a AAA rating! That’s what needed to happen for Article 8.  They can now sell the bonds because they got their credit rating jacked-up!

Bonds are in IQD…that should hit you right in the heart!  The WB loaned them money…not in USD…but in IQD! This is good!  The bonds will explode Iraq!  Oil per barrel is what they’ll use to value them.  Other countries want to come in…but they can’t because they are still on the 1166 program rate.   Countries are excited about the news of the expired 50’s…   Do you see the 50’s issued?  No!   …Delta said the rate will change this week or next week…before they issue the notes.  Everything is waiting for the program rate to go bye-bye.  So DELTA posted on Sunday…“IMO…it looks like the rate may be between 1.16 to 1.19 per dollar…that’s between .85 to .86 cents.”  Keep in mind if the lower denoms come out (tomorrow or soon) …that means there is a new rate out.  If the new 50’s come out , they can leave them at the program rate (1166) and…they continue this monetary reform.  Everything that has been going on has been great for the MR. Countries are salivating to come into Iraq.
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Millionday - [What is your thoughts on a 1 to 1 rate to move people away from the dollar and gain confidence in the Dinar?]   I THINK THAT THE CULTURE OF IRAQ WILL MOVE THE DINAR TO A CONFIDENT TENDER.   THEY HAVE PRIDE IN THEIR CURRENCY THROUGH BUSINESS IN THE REGION AND THE GLOBE — SO THE STEP TO THE MONETARY POLICY AND THE CONFIDENCE THAT IRAQ WILL GAIN FROM MAJOR ECONOMIC GIANTS.  THE RATE HAS NOT BEEN RELEASED BUT THEY HAVE STATED THAT IT WILL BE THE GREATEST IN THE REGION – ITS ALL IN HOW YOU TRANSLATE THE STATEMENT — BUT I DO NOT KNOW  THE RATE OR DATE.
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Check out the Dinar Corp 120+Max – it’s EQUITY!!

Commercial Solicitation

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Poppy3 - HAD THREE PEOPLE WRITE… ASKING THAT SAME OLD QUESTION…WHAT IS THE HOLD UP NOW.   …LET ME SAY THIS AGAIN…THIS IS A WORLD CHANGING EVENT AND ABOUT 20 COUNTRIES THAT REGULARLY TRADE WITH IRAQ…WILL BE STRONGLY EFFECTED ALONG WITH THE USA. THIS IS NOT JUST A BANKING TRANSACTION WHERE YOU SIGN 30, 40 PAGES OF DOCUMENTS AND ITS ALL OVER. THERE ARE AND Have been tons of details that must be performed CONCERNING AND INCLUDING MANY WORLD TRANSACTIONS …WE KNOW BEYOND A SHADOW OF DOUBT THE LEADERS KNOW WHAT IS NEXT …WHETHER WE HAVE A CLUE DOESNT MATTER AS LONG AS THEY KNOW. NOTHING IS HOLDING THIS UP…WHEN THEY FINISH WE GET A RATE PERIOD NOT A MINUTE BEFORE. THEY WON’T WAIT FOR RELIGIOUS, OR BANKING TIMES OR ANY THREAT, THEY WILL RELEASE PERIOD. RELAX YA’LL…WE ARE GOOD ANYTIME.
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tman23 - …Iraq for the past few weeks has had Card centers opened 7 days a week…18 hrs a day.  There is no doubt Iraq has a plan with regards to roll out the “new currency” and handle the old…With a shortage of currency/lack of liquidity/ and switching everyone over to direct deposit on Qi Cards…Can you think of a better time for monetary reform and introduction of new currency? 
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Mnt Goat - We simply have to wait for Iraq to accomplish the tasks they need to complete the process…such as the much needed laws and get their security situation under control.  For security – Did I say all crime and corruption must end prior to an RV? No…What I did say is it must get UNDER CONTROL.  Did I say all the laws must be in place? No – What I did…say is the USA is standing firm at least on those laws associated and needed for the RECONCILIATION and SECURITY effort. These laws  must be passed and implemented.   These are the National Guard law, Amnesty laws and full HCL  implementation. 
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Millionday - [will all this progress have any baring with rv time frame?]  THERE IS A REPORT OUT THAT STATES THAT THE ECONOMIC REFORMS AND THE MONETARY POLICY HAD TO BE MOVED UP TIMEWISE BUT WE DONT KNOW THE DATE IT WAS SET AT…HOWEVER — ACTIONS ARE MAKING THIS COME FASTER…
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Afternoon Dinar Drive Call

w/BGG – 5/5 @ 3:30pm CST

from 5/3 - Smart phone user link – Click here

Call is postponed due to technical difficulties…

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Kaperoni - Article quote:  “Governor of the Central Bank announced the completion of the final touches to issue a new currency of 50 000 dinars category which would reduce the volume of cash in circulation.”   We are about to see something happen one way or another with these new notes.
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Backdoc - BY NOW I THINK IT IS CRYSTAL CLEAR THAT VIETNAM IS FOLLOWING THE SAME PATHWAYS TO A MARKET ECONOMY AS IRAQ!  IN FACT IT IS SO BLATANT THAT THEY CLEARLY ARE RESTRUCTURING THEIR BANKING FACILITIES AND GOING PUBLIC WITH STATE OWNED INSTITUTIONS….EVEN BUILDING A NEW AIRPORT AND SEA PORT!  LAWS ARE BEING CHANGED TO ENCOURAGE FOREIGN INVESTORS AND FOR FOREIGNERS TO BE ABLE TO OWN PROPERTY!  SOME FORMS OF DEMOCRACY ARE CLEARLY ON ITS WAY!  AFTER PERSONAL EXPERIENCE WHICH I’VE HAD, AND NOW AFTER READING THE ARTICLE LAST NIGHT, I’M TOTALLY CONVINCED VIETNAM IS ADMITTING A LIQUIDITY CRISIS!  I’M NOT SURPRISED BASED ON PERSONAL EXPERIENCE!  WE KNOW THE SOLUTION TO THIS PROBLEM DON’T WE?  WILL…THE DONG…ALSO BECOME A DONOR CURRENCY AS WELL?  I HIGHLY BELIEVE THIS IS POSSIBLE!!
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Millionday - CBI ANNOUNCEMENT TO ACTIVATE THE REMITTANCE SYSTEM OF SALE AND PURCHASE OF ALL FOREIGN CURRENCY:   ”To/banks approved to exercise all banking -approved all remittance companies – companies to broker the sale and purchase of foreign currency all ( questionnaire about the window buying and selling currency ) 03/05/2015“  VERY GOOD NEWS AS IT IS A STEP OF EXCHANGE IN IRAQ OF FOREIGN CURRENCY WHICH IS NEEDED FOR INVESTORS AND THE ACTIVATION OF AGREEMENTS AND CONTRACTS WRITTEN ETC.  [...at what rate?]  THEY WOULD NEED TO DO THE ORDERED INTERNATIONAL EQUATION IMO – FOR THE REMITTANCE SYSTEM – SMILE.
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The economic and investment commission hosts the Governor of the Central Bank

The economic and investment commission hosted on Sunday, 05/03/2015, headed by MP Jawad al- Chairman of the Committee and the presence of Messrs members, Mr. Ali Keywords Governor of the Central Bank to discuss the monetary policy of the Bank and ways to encourage the private sector.

The head of the economic and investment commission during the meeting that it is important at this stage where the country is suffering from the financial and economic crises that operate fiscal and monetary policies to promote economic reality which is viewed with hope for investment and the private sector.

He said al-Bolani said on relevant policy monetary act now and quickly to invest the money supply available and channeled properly to support private sector companies and banks sector, and here this liquidity will work as an engine driver of investment which will generate additional financial returns and increases the total national income and gross domestic product (GDP).

For his part, Governor of the Central Bank announced the completion of the final touches to issue a new currency of 50 000 dinars category which would reduce the volume of cash in circulation…

Read More: http://dinarupdates.com/blog/
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tman23 - Certainly they can intro a 50,000 note for a short term and then come 2016 they could intro the lower denoms 1..5..10…25…50….and the 3 zero notes would run along side only not accounting the zeros in the exchange rate……  This scenario is a simple explaination……..(ex) new notes 1,5,10,25,50…..and the existing will have the same value because the 3 zeros will not be included in the accounting……. THIS IS NOT DIFFICULT TO EXPLAIN……. BUT the CBI seems to lack intelligence on how to educate the citizens on their plan………. OR..This is not the plan and the reason for conficting articles and confusion………And as I keep saying……If it’s a nuetral event……why the need to delay and study it over, and over, and over, and over, and over 5 years ???
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wmawhite - …I always look at 1166…at 1166 Iraq can not achieve what they have told the world they want to achieve. They have been using the USD for over 10 years and look at what they have…NOTHING.
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Bluedog - Article:  “Dinar exchange rate against the dollar on Monday 04-05-2015″   Quote:    “Iraqi dinar exchange rate against the US dollar on Monday in Iraqi banks and markets:  US $ 1 = 1,164.7000 Iraqi dinars  1 Iraqi dinars = US $ 0.0009“   PUTTING A DAILY EXCHANGE RATE IN NEWS LATELY…I HAVE SEEN THIS MORE AND MORE…WHY? IRAQIS KNOW THE RATE…ARE THEY HINTING THAT CITIZENS SHOULD CHECK THE CBI AND LOOK FOR CHANGE? …OH ITS BEEN LISTED BUT NOT QUITE THIS WAY.
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Dinarians,

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Sincerely, DinarCorp.com

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Millionday - The economic and investment commission hosted on Sunday, 05/03/2015, headed by MP Jawad al- Chairman of the Committee and the presence of Messrs members, Mr. Ali Keywords Governor of the Central Bank to discuss the monetary policy of the Bank and ways to encourage the private sector.”   CBI WAS HOSTED TODAY TO DISCUSS THE MONETARY POLICY AND WAYS TO PROMOTE FOR THE COUNTRY`S PRIVATE SECTOR…THIS IS PARLIAMENT AND CBI — THIS MEETING IS SO VERY IMPORTANT BECAUSE THIS STAGE IS THE STAGE OF PROMOTION — AND THIS IS FOR THE ECONOMIC REALITY OF IRAQ — ALL ABOUT INVESTMENT AND THE PRIVATE SECTOR OF IRAQ – ALLEVIATING SUFFERING IS THE ENTIRE GOAL.  THE PLAN IS ALREADY DESIGNED AND IS THE HOPE FOR IRAQ — IT IS VIEWED AS THE NEW IRAQI HOPE. THIS IS THE STAGE OF THE ACTIVATION OF THE MONETARY POLICY.  HUGE NEWS AND ALSO SHOWS HUGE CONFIDENCE.
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Frank26 - Listen closely…There are no 50k and 100k notes and the CBI certainly is not going to print any. The article that was released about 2-3 weeks ago was a misprint!  Dr. Saleh said very clearly that they will have a 50 and 100 dinar note.  Dr. Shabibi has a masterful plan with a mechanism that will allow a 50 IQD note and a 100 IQD note to come out.  As you’ll remember…the Kurds wanted their language on the new currency  and so…Dr. Shabibi had the currency reprinted with the Iraqi, Kurdish and English written on the new notes.  Now with the plan laid out for a 4-year plan…when they release this new currency (the new 50 IQD and the 100 IQD)…with an increase in VALUE it will give the citizens exactly what they need…PURCHASING POWER!  outside of the country… you will see a capital gain in the dinar that you hold!  The CBI books cannot give you a date but the info leaking out is a rate.  It appears to start out at .85 cents to about a dollar. That is a rate family.  The dinar is going to go International pretty soon family…at a new exchange rate!

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Kaperoni - Article quote:  “…the Central Bank to apply starting from 2015 and up to 2020“.   I found this…apparently from around Oct 2014 that confirms this going to be a slow go…float…not a RV as some…keep saying.  Abadi made a statement yesterday when referencing the economic plan that the strategy would be long term which is what Dr. Bakri also said.  It appears clear to me that that the plan did change back in 2012 from an event to a gradual transition…which is reflected in the Article IV consultation as well.   When looking back a few months, it is clear all these articles are also saying this.  This process is going to be implemented slowly over several years. We also know it started..because Allaq came out March 3rd and confirmed.  So it is in progress..and will take up to 4 or 5 years to complete.
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CURRENCY CODE SELL BUY

US dollar USD 1166.000 1164.000

CURRENCY CODE SELL BUY
US dollar USD 1166.000 1164.000
Euro EUR —– —–
British pound GBP 1781.298 1780.408
Canadian dollar CAD 956.365 955.887
Swiss franc CHF —– —–
Swedish krona SEK —– —–
Norwegian krone NOK —– —–
Danish krone DKK —– —–
Japanese yen JPY 9.745 9.740
Special
Drawing Rights
SDR 1640.877 1640.056

Indicative rates – 05.05.2015

http://www.cbi.iq/

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Stryker - A few good things have taken place today. Parliamentary’s Legal Committee announced the agreement in the House of Representatives to vote on the final accounts for the financial budgets of past years in the form of parliamentary resolutions.  These final accounts of past years are needed to show full transparency and complete audited financials to obtain a true credit rating which will lead to the launch of all Iraq’s bond offerings.  These accounts are also needed for the Federal Courts to make a final ruling on the 19 paragraphs in the 2015 Budget that are being appealed by the Council of Ministers. These paragraphs are holding up the full implementation of the 2015 Budget which has not been official published in the Iraq Gazette, it has only been published in the Law Newspaper.  And I think we all know what the implementation of the bonds offerings and the full implementation of the 2015 Budget will lead too… 

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Delta - URGENT FROM IRAQIA TV:  GOV OF CBI ANNOUNCED THE COMPLETION OF THE FINAL TOUCHES TO ISSUE A NEW 50 NOTE AND THEY SAID THAT WILL REDUCE THE VOLUME OF CASH IN CIRCULATION.  IMO THE RATE WILL CHANGE THIS WEEK OR NEXT WEEK THE MOST BEFORE THEY ISSUE THE NEW NOTE  AND IT LOOKS THE RATE WILL BE AROUND 1.16 – 1.19 DINAR PER DOLLAR ( .85 – .86).
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Poppy3 - …THERE IS SOMETHING UP IN IRAQ WITH SENIOR LEADERSHIP OF WORLD BANK IN TOWN… THEY DON’T VISIT JUST TO GET SOME APPLE PIE…THEY ARE THERE TO BRING ACTIONS AND DIRECT THAT ACTION TO MEET WORLD BANKS NEEDS.  BE READY TO SEE SOME MOVEMENT TO GLOBAL ACTIONS DURING THEIR VISIT.  
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Sunday Afternoon Dinar Call (Live)

w/Live Q & A – From 5/3

Smart phone user link – Click here

Click on the call banner in the upper right corner!!

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wmawhite - Hello…As we know, Iraq is pursuing a sovereign (country) credit rating. However, as you can see (below) from Standard and Poors (S&P), one of the factors taken into account by Standard and Poors is the country’s currency;

“…Three factors also drive a sovereign’s external score, namely our view of the status of a sovereign’s currency in international transactions, the sovereign’s external liquidity, and its external indebtedness, which shows residents’ assets and liabilities relative to the rest of the world…” 

With this mind,…….why would Iraq move forward obtaining a sovereign credit rating knowing that its currency will be a problem………UNLESS………….it may not be a problem soon????
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BGG - [do you know if Iraq needs to have a recognized currency prior to the release of the credit ratings for a soverign country?]  I doubt it – but more than likely need a currency and a credit rating to get their bonds sold at a premium and I doubt they want to sell their bonds cheap.  [When will they start to sell their bonds?]  the obvious answer is – likely right after their credit rating (hopefully a good one) is issued…again – IMHO they need a currency and a rating BEFORE they will be able to get investors to pony up to the bond table.  I mean - they need something other than 1166 to show their advancing financial condition. It has to reflect the true state of Iraq. 1166 does not [how long will something like a credit rating take?]  I doubt they would have announced it if things weren’t well on the way.
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Kaperoni - Article quote:  “BAGHDAD Mustafa al-Hashemistrengthens the presence of the credit rating of any country in the world to get the funding they want through local or foreign markets…“  It’s pretty obvious that getting this rating will help them lure investment capital for the market economy.  Which indirectly will effect the exchange rate…as more investment comes in, it creates inflationary pressure to raise the dinar exchange rate.  So another piece of the puzzle and a good thing that will help them grow the economy.
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Breaking News Source within Abadi’ office: No armament to be done without Baghdad’s approval

ALFORAT News Agency

Baghdad (AIN) – A source within the office of the Prime Minister, Haider al-Abadi, criticized the support of some politicians to the US Congressional decision over arming the Iraqi Sunni tribes and the Peshmerga forces away from the central government, assuring that no armament to be done without Baghdad’s approval. /End/

Read More: http://dinarupdates.com/blog/
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Aggiedad77 - I am seeing, reading, and comprehending the same thing…this appears to have started 4 months ago, maybe late January, probably near the first time we heard mention of Iraq talking to Citibank and Deutsche Bank…IMO this is where they will get the rating they want…something definitely higher than a “-B” rating.  …they surely won’t divulge the full picture to us at this stage…something needs to give way in the near term, within weeks.  It sounds like they are confident that other countries see Iraq as a worthy risk due to prior history of debt repayment… plus they have an exceptionally large reserve of oil that will certainly aid in backing a better credit rating.  Definitely no sign of panic that a lower rate is being expected…their demeanor…seems to signal that things are on course… remember Citibank and Deutsche Bank were part of the meeting agenda when PM Abadi and I believe Finance Minister were in Washington a few weeks ago...history in the making is my twist on this…the BEST is yet to come…sooon.
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Delta - THE PROCESS TO GET A CREDIT IT TAKE ONLY 4-6 WKS…SO WHY IN CASE OF IRAQ IT’S 4 MONTHS?  THEY ARE WAITING FOR THE TRUE RATE AND ARTICLE 8, AND SINCE THE OLD 50 NOTE IS NO LONGER VALID. CHANGE IN THE EXCHANGE RATE REGIME IS COMING [Iraq has to be internationally recognized with a international rate before they can get a credit rating.]   BINGO…
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tman23 - The citizens are not happy over borrowing money…they feel like Iraq is now sold to the bankers…And the GOI is not telling them anything but to be patient…No announcement in Mosques about “Your Abundance is coming” and no announcements on TV.
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Economists call for reconsideration of the banking sector to activate the Iraqi economy and attract investment

Long-Presse / Karbala - Counting specialists, economists, on Sunday, that the legislative and financial obstacles highlighted the problems faced by the Iraqi banking sector, while criticizing the conflict of the implementation of the Iraqi Central Bank instructions between private and public banks, called for a reconsideration of the work of this sector and to find capable banking system to attract investment and management of the country’s resources…

Read More: http://dinarupdates.com/blog/
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Kaperoni - Article quote:  “Iraq is undergoing numerous challenges, including the economic and financial situation and we want to take advantage of the financial crisis to build a healthy economy depends on long-term strategy and vision as far away as possible from the prosthetic solutions.“  IMO, the above statement is confirmation that there is no overnight RV (prosthetic solutions).  That the plan is as Dr. Bakri stated, and the CBI has stated recently (up to 4 years) and based on sound economic principles which will allow the dinar to appreciate based on the success of the economy.  Which also is what the IMF stated in the Article IV Consultation.  Time will tell..but this article to me is more confirmation we need to be patient and let this come to us.
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Millionday - I HAVE HEARD IT WAS OVER THIS WEEKEND…THE THING IS — I DONT SEE ANYTHING IN ITS WAY…WITH THE EU AT THIS POINT IS VERY IMPORTANT – THEY ARE IN SUCH A DIFFERENT PLACE THAN THEY HAVE EVER BEEN IN…AND THE KURDS ARE IN COMPLETE AGREEMENT WITH IRAQ AT THIS POINT TOO – THE ERBIL AND OIL AGREEMENT — SO THEY HAVE SAVED IRAQ FACE IMO.
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Shredd - Article quote:  “Iraq is seeking to get the sovereign rating and continue with credit rating agencies, “explaining that “seeks to connect with two or three credit rating agencies.”  We’ve known they have been working on this for quite some time. It’s good to see this back in the news. Having a sovereign credit rating will open many investment opportunities for investors and investment vehicles who’ve been waiting for this. No direct correlation to the exchange rate but will be very very good for investment once acquired. 
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CURRENCY CODE SELL BUY

US dollar USD 1166.000 1164.000

 

CURRENCY CODE SELL BUY
US dollar USD 1166.000 1164.000
Euro EUR 1307.669 1307.015
British pound GBP 1798.572 1797.772
Canadian dollar CAD 962.126 961.645
Swiss franc CHF 1246.126 1245.503
Swedish krona SEK 140.180 140.110
Norwegian krone NOK 155.964 155.886
Danish krone DKK 175.217 175.130
Japanese yen JPY 9.839 9.834
Special
Drawing Rights
SDR 1639.886 1639.066

Indicative rates – 05.03.2015

http://www.cbi.iq/

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tlm724 - Article quote: ”Iraq is seeking to get the sovereign rating and continue with credit rating agencies, “explaining that “seeks to connect with two or three credit rating agencies.” Zebari added that “Iraq is preparing to issue huge bonds worth five billion dollars needed to cover the budget caused by lower oil prices deficit,”  when they have to open their books to get this rating it will interesting! Full transparency is required and their true wealth will be revealed and with that perhaps we will see a change in the rate? I don’t know but it is possible.
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BGG - I must say – I was a little disappointed to “not be rich” yet this AM…it’s early yet.  [You really think we're THAT close BGG?]  probably… the news looks very promising. Aside from the normal “two steps forward – one step back” flavor – it’s pretty good financial news.

Leave it to rumor boards to “copy, paste and insinuate” more than was said.

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Hub - a lady that runs my operation for me, i got her in this three years ago, had her wf branch mgr call her two times this week to tell her its ready, she needed to get ready, no time, just its here. this lady runs the company for me and i trust her completly.

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Breaking News Hakim: We deal with US Administration not Congress

Baghdad (Forat) – The head of the Supreme Iraqi Islamic Council, Ammar al-Hakim, we deal with the US Administration and not with the Congress.

“We will declare our final stance regarding the proposed law draft over Iraq when the US Administration identifies its stance,” he concluded. /End/

alforatnews.com
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Poppy3 - ...I AM IN GREAT ANTICIPATION OF HEARING NEWS IN THE NEXT COUPLE DAYS THE IRAQ DINAR HAS A NEW INTERNATIONAL RATE
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Bluedog - THE IMF AND WORLD BANK LOAN IS JUST A MOSQUITO ON AN ELEPHANT COMPARED TO WHAT IRAQ NEEDS…AND HOW WILL IRAQ PAY ALL BACK SALARIES AND GO FORTH WITH REBUILDING THEIR COUNTRY.  THE NEW RAIL SYSTEM IN BAGHDAD AND THE NEW TRAINS THAT HAVE ARRIVED…THE NEW AIR STRIPS AND AIRPORTS TO HOUSE F-16′S …ALL THE MILITARY EQUIP THAT THEY HAVE RECEIVED…  KURDS ARE BUILDING FASTER THAN ANYONE COULD BELIEVE…THEY NEED HUGE MONEY.   WE KNOW THE WEALTH OF THIS COUNTRY ABOVE AND BELOW THE GROUND…INVESTORS AND THE WORLD KNOW TOO…SO THEY NEED TO SPIFF UP AND THEY NEED FUNDS.

YOU SEE IRAQI HIGH GOVERNMENT FOLKS OUT SELLING BONDS RIGHT NOW AND IT HAS BEEN IN PROGRESS NOT JUST YESTERDAY BUT BEEN HAPPENING…THEY ARE BUILDING ROADS AND NEW SEWAGE SYSTEMS AND PLANTS.  IT’S A COUNTRY THAT NEEDS GROUND FLOOR REBUILDING.  SO THE 2015 BUDGET AND THESE LOANS ARE JUST NOTHING.  THEY PROVIDE CHEESE FOR THE MONTH IMO…THE IRAQI GOVERNMENT HAVE LESS THAN NOTHING HERE WITH THESE LOANS TO WORK WITH OTHER THAN PAYING OVER DUE PAYMENT.

THEY CANNOT MOVE FORWARD…   AND REMEMBER THE GREEN LITE THAT THEY WERE GIVEN …THAT’S THEIR SALVATION.   DO YOU THINK THE WB AND THE IMF WILL CONTINUE WITHOUT A MOVE OF THE CBI….. NAW.  IMO THE CURRENCY REFORM HAS BEEN SEEN IN THE LAST FEW WEEKS AT A LIGHTNING SPEED…SECURITY IS AT A HIGH LEVEL…THEY WILL DEAL WITH ANBAR IN THEIR OWN WAY.  IRAQ HAS A HUGE DREAM AND IT’S NOT AT A ONE TO ONE RATE…IT MUST BE A GREATER RATE… A COUNTRY WITH THESE DREAMS HAVE TO MOVE VERY FAST…JIMO 
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BGG - [I thought they still had to pass a bunch of laws before they could RV.]  How do we know they aren’t all passed already? (hypothetical).  they did the second reading of the investment law – then went into secret session. One of the things addressed in secret was “unnamed”…
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Check out the Dinar Corp 120+Max – it’s EQUITY!!

Commercial Solicitation

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wmawhite - …a new 50 note, as they said were coming, are still only valued at $0.045 at the current rate. This is why IMO the IQD will change well in advance of of the flood gates opening with investors and the new currency…the lower notes will be of no use on the streets without a DRAMATIC increase in purchasing power wmawhite: With this mind,…….why would Iraq move forward with obtaining a sovereign credit rating knowing that its currency will be a factors………UNLESS………….it may not be a factor soon????and that will come from a DRAMATIC increase in the value of the IQD…OUTSIDE OF IRAQ… IMO, the CBI doesn’t need anything…it is the GOI that needs laws, HCL, money, etc…investors…the CBI just needs the international pieces in place in order to support the true value of the IQD.
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Millionday - THE FINANCIAL POLICIES AND ECONOMIC REFORMS HAVE TO BE DONE IN A HURRY BECAUSE THE KURDS HAVE RECEIVED THEIR FUNDING FOR BENEFITS AND PAY — THIS IS HUGE AND WAS TO BE LOADED ON THE SMART CARDS.  [if Kurds got paid on smart cards. should that be valid internationally?]  THE CARDS ARE REPORTED TO BE GLOBAL CARDS…AND WILL BE ABLE TO BE USED ANYWHERE.
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tman23 - POTUS will host the leaders of the Gulf (GCC) on the 13th and 14th in Washington…IMO…Up to the 15th of May I do not see any rate changes…more so towards the end of May or after at least after the 15th for any new currency intro or rate change.   They are in a rush to complete laws and “escalate security” before the start of July… Certainly it can happen at anytime as ANYTHING can happen at anytime… I expect to see an announcement of new notes close to the end of May and then their release around June 15th (right before ramadan)… IMO… And as told we should see what occurs on 5/2 regarding financials as Parliament is in session and suspect it isn’t just for US military arms.
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Iraq’s Kurds win own seat in future talks at European Union

Kurdistan Region President Massoud Barzani at the EU parliament in Brussels last year. Photo: Rudaw

BRUSSELS, Belgium – The autonomous Kurdistan Regional Government (KRG) in northern Iraq will henceforth be allowed to attend high-level meetings between the European Union and Baghdad, according to an EU decision.

“Now that we are included, our people can express their wishes, make their own demands, objections and have influence,” said Zana Kurda, an advisor to the KRG’s European Union mission…

Read More: http://dinarupdates.com/blog/
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Delta - I GOT YOU SOME INFORMATION ON HOW STANDARD AND POORS RATE SOVEREIGNS.  STANDARD AND POOR’S:  “Three factors also drive a sovereign’s external score, namely our view of the status of a sovereign’s currency in international transactions, the sovereign’s external liquidity, and its external indebtedness, which shows residents’ assets and liabilities relative to the rest of the world.  The initial rating process typically takes four to six weeks to complete, but can run longer or shorter. This initial process begins when the contract is signed and generally ends with the publication of the rating.“   IT’S VERY CLEAR THAT IRAQ NEEDS AN INTERNATIONAL RATE BEFORE THEY GET THE CREDIT RATING, ALSO THE WHOLE PROCESS COULD TAKE 4-6 WEEKS.
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wmawhite - I am still of the opinion that the CBI is driving this ship and everybody else is trying to jump onboard.
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Poppy3 - I EXPECT TO HEAR A RATE AT ANYTIME IN THE NEXT FEW DAYS.  
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Rafidain Bank announces its continuation to issue smart cards for displaced people to receive their monthly salary

Khandan - announced Rafidain Bank, continue to issue smart card for displaced people to receive their monthly salary . He said the Rafidain Bank in a statement received ” Khandan ” a copy of it, he is constantly in the smart card for displaced families in all provinces of the country and covered by the issuance of subsidies by the Ministry of Displacement and Migration who receive their salaries per month . The statement noted that the bank issued a smart card for displaced people on the basis of information and database for displaced families . He said the bank in its statement, said that the use of the card process easy distribution of the amounts allocated to them through the branches of the Rafidain Bank .

Read More: http://dinarupdates.com/blog/
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Aggiedad77 - …this “credit rating” issue…Iraq is seeking to tender some international bonds in USD denominations to the tune of $5 billion dollars…..they want this “credit rating” for these bonds…The higher the “credit rating” they can establish specifically for these bonds, the more solid the bonds appear to investors…I’m thinking anything at an “A” rating or higher is what their target is going to be…this is high dollar corporate/international type of wheeling and dealing we are talking about here… As for May…I don’t see Dr. S [Shabibi] sticking his neck out just yet…M [Maliki] may be in a coma or maybe not…but he hasn’t been “contained” as yet…that still needs to happen…we know Dr. S and his history he’s going to be overly cautious about any move he makes…he’s got some time and I am sure he is watching many monitors all at once…  PM Abadi is doing his best to gather his ducklings and keep them grouped….the Kurds, the Sunnis, his Shiite brothers…he’s at a point where he needs and wants everyone happy…”Don’t Worry Be Happy”…the BEST is yet to come.
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Enorrste - Article quote:  “The Central Bank of Iraq, said he plans to issue a new currency from the category of 50 dinars after deletion of zeros which is equivalent to $50 thousand dinars at the moment.”  I am somewhat surprised that some seem to have passed over the clear statements from the CBI that the notes will be 50 and 100 dinar notes with the “current” value of 50000 and 100000 dinars. I am absolutely jubilant instead of “cautious” or “apprehensive.”  Clearly we are within days or at most weeks of a change in the exchange rate regime…this is a “prerequisite” toward making the change.  Some bills need to be passed but don’t necessarily have to be passed prior to the change in the regime.  In any case, Parliament has said that it will take up the currency in the coming week, so I am again confident and jubilant. One final comment…:  the Parliament does not have to “pass” a change or addition in currency.  That right resides with the CBI alone.  It is stated in the 2004 CBI institution law and also in the Constitution that the issuance of currency is within the pervue of the CBI only.  Get excited, folks!  This is as close as we’ve ever come.  I just love the fact that KAP  pointed out the word “prerequisite.”  That means that something else will follow this move.  Yippee!
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Adam Montana - Did you catch that news yesterday?  Iraq is applying for a credit RATING. Why would they do that if they didn’t think they would get a good result?  The answer is obvious – they would not!  In fact, this could be the reason they have stalled on finalizing the HCL… because with an official credit rating and a solid Law on their oil and gas, an RV is a no brainer.  Did I mention how excited I am…
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President Barzani set for key talks in Washington

President of Kurdistan region Masoud Barzani. Rudaw photo.

WASHINGTON, DC - President Masoud Barzani will arrive in Washington on Sunday for a week-long trip during which he is scheduled to meet the US president, vice president and other senior officials, the US State Department said Thursday.

“President [Barack] Obama will also join Vice President [Joe] Biden in welcoming President Barzani to the White House,” said State Department’s acting spokesperson Marie Harf…

Read More: http://dinarupdates.com/blog/

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tlm724 - Article quotes:   “…Iraq seeks credit rating before jumbo bond issue”  “Iraq plans to obtain a sovereign credit rating and is approaching rating agencies as it prepares for a jumbo $5 billion (£3.2 billion) bond issue needed to cover a budget deficit caused by low oil prices” “We started the process,” Hoshiyar Zebari“  Action Quote: “The process of obtaining a credit rating could be a delicate one for Iraq, requiring it to open its books to the agencies and disclose new information on its finances. Zebari did not say when he expected the process to be completed“  If Iraq whats to play with the big boys then they will have to open their books! Full transparency is required.  …they are going to have to get a good credit rating and also avoid the anti-money laundering black list. These two issues are critical to Iraq’s economic reform plan! It is imperative to address these and do it quickly in order to build international confidence!  This is telling for sure issuing bonds in dinar, the question remains what will they do to the dinar to make it attractive?  Still to be determined…Wink.
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Jester - ALL MY CONTACTS ARE SAYING WHAT WE WERE LOOKING FOR DID NOT HAPPEN AND HAS BEEN DELAYED UNTIL MONDAY … EVERYTHING IS LOOKING GOOD FOR MONDAY…THIS IS A PROCESS… THEY WILL GET THIS DONE… AND IT IS LIKE ANYTHING ELSE… TAKES TIME TO GET IT RIGHT…IF I AM READING THIS RIGHT THE CONTINUING DELAYS ARE IN OUR FAVOR…
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Kaperoni - Article quote:  “Iraq plans to obtain a sovereign credit rating and is approaching rating agencies as it prepares for a jumbo $5 billion (£3.2 billion) bond issue“   needed to cover a budget deficit caused by low oil prices, its finance minister said on Thursday.”   …it seems that if they did pursue this credit rating it would have an effect on the exchange rate.  More pressure which is what we want.
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Millionday - Press Statement:   “Finance Minister Hoshyar Zebari said Thursday that Iraq was seeking sovereign rating continues with credit rating agencies as it prepares to issue bonds worth a huge five billion dollars needed to cover the financial deficit caused by low oil prices.“  THIS IS FROM A PRESS STATEMENT AND IS VERY IMPORTANT IN THE FORMATION OF THE INTEREST RATES — WHICH PER OUR RESEARCH ON WHAT GOES INTO THE INTERNATIONAL EQUATION.  THEY ARE WORKING ON THE CREDIT RATING FOR IRAQ…  Quote:  “Zebari said in a press statement, “We started the process and that the banks are also seeking to help us in this direction,” without having to disclose the date on which it is expected to complete the process.“   IRAQ IS NOT RELEASING THE DATE OF WHEN THE CREDIT RATINGS ARE TO BE RELEASED — AND FOR A GOOD REASON… 

Quote:  “Iraq has announced that it will issue bonds worth five billion dollars in the first issued in the international bond market in nine years and is in dire need of liquidity as the government predicted that this year’s deficit up to about 25 percent of the size of the budget of 100 billion dollars.”  IRAQ HAS ALSO ANNOUNCED THAT THEY ARE GOIING TO ISSUE BONDS IN THE INTERNATIONAL BOND MARKET –  IRAQ THINKS THAT THE ISSUE OF THE LAST CREDIT RATINGS WILL ATTRACT THE INTERNATIONAL COMMUNITY TO THE BONDS THEY HAVE ISSUED TO HELP WITH THE DEFICIT.  THE PROBLEM WITH OBTAINING THEIR CREDIT RATING IS THAT IT REQUIRES TRANSPARENCY TO THE AGENCY THEY ARE WORKING WITH — THIS FORCES THE INFORMATION THAT HAS BEEN KEPT QUIET TO BE REVEALED.  NOTE — THE BONDS ARE ALL IN DINAR AND THE FACT THAT THIS IS A HUGE PRESS STATEMENT…IT IS OBVIOUSLY VERY IMPORTANT.  THE CREDIT RATING IS VERY IMPORTANT…IN THE REVALUE OF THE DINAR AND ALSO THE INTERNATIONAL RECOGNITION IN THE DINAR YOU HOLD.
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Poppy3 - THESE ARE FACTS STATED BY IRAQ LEADERSHIP . THEY HAVE PASSED MANY NEW LAWS IN THE LAST TWO DAYS AND THEY STATED THE 4 MAIN LAWS LEFT WILL BE FINALIZED AS OF TODAY IN A PRIVATE CLOSED DOOR MEETING.
ABADI HAS ANNOUNCED TWICE IN THE LAST WEEK HE WILL NOT ALLOW TIME OFF EVEN FOR RAMADON TO DETURN OR DELAY FROM FINISHING FINANCIAL REFORM. I AM GETTING CONSTANT CALLS FROM EVERY SOURCE I HAVE EVER HAD THAT HAVE RECONNECTING AND TELLING ME KNOW THE FINISH LINE IS ABSOLUTELY IN SIGHT. I ENCOURAGE ALL OF YOU TO LISTEN TO TODAYS DRIVE BY CALL. REGARDLESS OF HOW YOU FEEL ABOUT SPENDING TIME LISTENING THE NEWS AND COMMENTS MADE ARE FACTUAL NOT SOMEONES MADEUP IDEAS BUT FACTS. IRAQ IS MOVING THINGS FORWARD FINANCIALLY AND AS I HAVE TOLD YOU IN THE LAST MONTH FROM THE BEST CONTACT IN THE COUNTRY HE SAID THEY WILL NOT STOP PROGRESS TILL REFORM IS COMPLETE AND ALL REQUIREMENTS ARE MET AND THEY HAVE FOLLOWED THAT INFORMATION TO THE LETTER. POPPY3
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Backdoc - …WE HAVE SOME THOUGHTS ON THE EXPIRED FIFTIES.  REMEMBER THE CBI CONTROLS THE NOTE COUNT.  WITH ALL THE OLD FIFTIES BEING PULLED OUT OF CIRCULATION THE POTENTIAL FOR MORE VALUE TO THE DINAR IS NOW INCREASED…THEY SAID THEY ONLY HAD 1 3/4 % IN THE PUBLIC FLOAT.  THAT NUMBER MUST NOW BE CONSIDERED LOWER. WILL IRAQ USE SOME OF THIS MASSIVE CURRENCY REDUCTION IN SOME WAY TO BENEFIT THEM WITH PAYMENTS ECT. TO ACCOMPLISH A BETTER CREDIT RATING?  Mmmmm.   TIME WILL SHOW THE ANSWER FOR SURE BUT IT SEEMS INEVITABLE THAT WE WILL SEE THAT UPGRADE SOON.  THIS WILL BE HUGE FOR THEIR INTERNATIONAL STATUS.
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Breaking News Parliament session starts

Baghdad (Forat) – Parliament session of Saturday started to read and discuss several laws.

The session is headed by Speaker, Saleem al-Jobouri, and attended by 243 MPs. /End/

alforatnews.com

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tman23 - IMO…….. Events are not passing the “smell test”.….. Some members of Parliment freak out over the “US Congress Resolution” that was submitted by ONE member of Congress to arm the Sunni’s and Kurds directly……. Note that the POTUS is the one who sets foreign policy and they deny any such intervention that bypasses the GOI… Then Abadi makes a public statement where he says that Iraq is sovereign and the arms directly to territories will not happen without Baghdad and Iraq Military dispersing military arms AND rejects the resolution…… Now we have Parliment holding a Saturday session to discuss the US Congress resolution to intervene…….. But at the same time we have the World Bank preparing to provide loans…. The IMF providing a loan…..A credit rating on the way….. And a day being wasted by Parliment to discuss the US Congress Resolution…….. I smell BS
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Aggiedad77 - Article:  “Parliamentary Finance: Iraq borrowed more than three billion dollars and projects stalled St_khas_khas”  The numbers are flying all over the place…$800 million…$5 billion…now $3 billion…$3.4 billion…$2 billion…what is behind door #1…this member of the Finance Committee claims Iraq will be borrowing from both the IMF and the World Bank…trust me this isn’t the only article we will see today regarding these loans…most of any loans Iraq is getting from these two organizations comes with little to no interest attached and payouts of around 5-10 years…there will be good to come of all of this…do not let the sight of these loans get you down thinking things are being delayed…the pot on the stove continues to simmer…and it is cooking some good things.
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Adam Montana - Article quote:  “Iraq plans to obtain a sovereign credit rating and is approaching rating agencies as it prepares for a jumbo $5 billion (£3.2 billion) bond issue needed to cover a budget deficit caused by low oil prices, its finance minister said on Thursday.“  This is BIG.  Iraq is applying for a credit rating.  A credit RATING.  They aren’t haphazardly applying for a loan “just in case” the auditor messes up and gives them a small line… they are on the way to an established, world recognized, bonafide, CREDIT RATING… and I think it’s going to be GOOD.  THIS IS HUGE!!!  When you have a credit “rating” like the US, China, or any other major player in the world has, you are opening your books to the world and everyone knows you’re worth “X”.  Right now, Iraq is worth “?”.  But with a credit “rating”, THAT ALL CHANGES.  HOLY SMOKES THIS MAKES ME SMILE! WOOOT.

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Dinar Afternoon Drive Call

w/Mr White & BGG – from 4/30

Click on the call banner in the upper right corner!!

Smart phone user link – Click here

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Millionday - [Do you have any ideas of why [Guru TNT] Tony and [Guru] DC are so excited saying that Iraq and everyone is saying that this is happening now?]  NO I HAVE NO IDEA BUT HOPE THEY ARE RIGHT — IMO IT COULD HAPPEN AT ANYTIME — SOME STEP IN THE ACTIVATION OF THE REFORMS WOULD REQUIRE FOR FAIR TRADE ETC THE CALCULATION TO BE DONE AND SET IMO.
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Poppy3 and Millionday - NOTE – …WE SAW A REPORT THAT THE WORLD BANK HAS SIGNED FOR THE LOAN TO IRAQ – SO OFFICIAL AGREEMENT MADE.  Quote: “MP for the Parliamentary Finance Committee Masood Haider, on Tuesday, the International Monetary Fund agreed to Iraq’s request Baagheradh amount worth five billion dollars as part of the response to the financial crisis experienced by the country.”   NOTE – THE IMF HAS ALSO SECURED THEIR AGREEMENT WITH IRAQ.   …THIS WAS THE SAME PROCESS KUWAIT WENT THROUGH JUST BEFORE THEIR ANNOUNCEMENT OF THEIR NEW RESTORED RATE.  ALSO REMEMBER AFTER THEY RELEASED IT THEN WAS 10 DAYS BEFORE IT WAS LEGAL TO EXCHANGE.  WE ARE LOOKING GREAT AND THE MONEY WILL BE AWESOME.
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Kaperoni - With the 50 dinar note being officially demonetized on Thursday, April 30th, we can begin to wonder if currency reform is coming soon.  Several articles surfaced during the month of April indicating there is a determination to issue a 50 (50,000) and 100 (100,000) dinar notes as stated as..”a prerequisite to the deletion of zeros.”  If this scenario is correct, this means the CBI is preparing for the transition. That issuing of the 100 and 50 would be the first step towards beginning to raise the exchange rate, and moving towards a currency without 3 zeros (and as stated in the articles as a “prerequisite.”…Inevitably gaining enough value to introduce even more smaller notes such as a 20, 10, 5 and 1 dinar over a period of time as the dinar rises.  This scenario is what we want to happen. This would be the beginning of the restructuring of monetary policy and the dinar. This would allow us as dinar investors the greatest potential gain as Iraq’s economy prospers

More than likely the new series of notes (once they all have been issued) will all be same size like the USA.  In doing so, they work well in ATM’s, counters, etc.  and will not jam.  The 50 was so small it was not appropriate, didnt have security and would not fit with the new notes.  It had to go.  People spend way to much time trying to figure out why that 50 was demonetized.  The answer was right in front of us.   Now moving forward the CBI can begin with the 100, and 50 and begin to raise the value…this process will continues for a few years until the eventual introduction of the 20, 10, 5 and 1 dinar…and some fils to support the economy and new rate. 

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Exclusive – Iraq seeks credit rating before jumbo bond issue

Iraq’s Finance Minister Hoshiyar Zebari speaks during a news conference in Baghdad February 26, 2015. 

DUBAI (Reuters) - Iraq plans to obtain a sovereign credit rating and is approaching rating agencies as it prepares for a jumbo $5 billion (£3.2 billion) bond issue needed to cover a budget deficit caused by low oil prices, its finance minister said on Thursday…

…Obtaining a credit rating from a major agency, which Iraq currently lacks, could help to persuade global fund managers and banks to subscribe to the issue.

Zebari said Iraq was trying to approach two or three rating agencies, which he did not name. It has been discussing its bond issue plan with Citibank and Deutsche Bank… (see Millionday News Time and RT from yesterday for an exciting clue!!)

Read More: http://dinarupdates.com/blog/
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wmawhite - [Do you agree that a gradual float in value makes more sense now?]   Why would Iraq ever want the rest of the world to determine the value of its currency by floating it? Answer…NEVER!
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Millionday - [Do you agree that a gradual float in value makes more sense now?]  I DON’T KNOW HOW THEY WILL ENTER THE MARKET WITH THE DINAR BUT AS WE HAVE BEEN TOLD FROM THE IRAQI GOV — AND ALSO HAVE SEEN WITH THE ORDERS GIVEN WITH THE DIRECTIVES – THEY WILL DO THE INTERNATIONAL EQUATION FIRST TO ENTER THE MARKET.  THEY WILL HAVE TO CALCULATE THE DINAR VALUE FIRST AND THEN HOW IT IS IN THE MARKET WILL BE SEEN THERE ARE MORE WAYS TO PUT THE CURRENCY AS IT GAINS — NOT JUST FLOAT OR FIXED — THE MARKET HAS MORE OPTIONS — THE THING IS THIS — EITHER WAY (UNKNOWN TO MANY) – CBI HAS THE POWER TO ADJUST THE RATE TO AVOID INFLATION.  THE CENTRAL BANK HAS THE RIGHT TO ADJUST THE RATE AND USE OTHER TOOLS TO MINIMIZE INFLATION — IN FACT THAT IS THEIR JOB —  I HAVE THAT IN INK.

DEFINITION of  Floating Exchange Rate:  A country’s exchange rate regime where its currency is set by the foreign-exchange market through supply and demand for that particular currency relative to other currencies. Thus, floating exchange rates change freely and are determined by trading in the forex market. This is in contrast to a “fixed exchange rate” regime.  In some instances, if a currency value moves in any one direction at a rapid and sustained rate, central banks intervene by buying and selling its own currency reserves (i.e. Federal Reserve in the U.S.) in the foreign-exchange market in order to stabilize the local currency. However, central banks are reluctant to intervene, unless absolutely necessary, in a floating regime.
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Frank26 - Maliki is superhot right now…because he can be dangerous towards the closeness of this MR [Monetary Reform]. The MR is so close…it’s so fragile to these bullies. It’s important that they must deal with him.  Abadi and Shabibi asked for $$$ and weapons to help with Maliki. We’ve got it covered…I can’t tell you how…but the media will in the next 30 days or so.  As you see one disappear…you will see the one that fears him…appear.  We’ll see Dr. Shabibi soon!
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Reports: coma Maliki intervention to hospital

Agencies Iraq-Presse - said news reports, Iraqi Deputy Prime Minister Nouri al-Maliki enter, on Wednesday, to the hospital after exposure to the illness after he entered into a coma as a result of the high proportion of diabetics who suffer from the illness several years ago.

Quoted “Elaf” a source close to Maliki said that “the vice president suffers from diabetes and is subject to continuous treatment recently strained the same travel and conferences, today entered into a sudden coma and was transferred to a specialist hospital in Baghdad for treatment.”…

Read More: http://dinarupdates.com/blog/
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tman23 - [Do you think its probable that we wake up one morning and see the exchange rate $3 or over?]  To commit to the word “probable” would be through the IQD RV Goggles…Replace probable…..with “possible”…IMO it is very possible.
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Kaperoni - Article quote:  “A source in the Council of Ministers Vice President Nuri al-Maliki Army is behind the massacre of misleading campaign blather.  The source added that everyone knew the truth of this rumor, which aims to destabilize the security situation is directed against the security forces…  …he needs to go. He continues to interfere with the new government. The false stories and misinformation is sole to create protests…which are in essence, against the new Abadi government.
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Adam Montana - There’s been a wild flurry of rumors that the HCL was printed. Unfortunately, I cannot verify it so I have to say they are wrong. I’m confident that we have an HC[Hydro Carbon Agreement], but the L [Law] is not yet with us.  I’m also confident that things are still moving in the right direction for us, more so than at any time in this entire ride!  Articles:  ”Baghdad sends Kurdistan’s entire check for the month of April“  “Kurdistan says all issues are resolved on oil trade with Baghdad, and is freely sending the oil that Baghdad is entitled to.“  we haven’t seen cooperation like this not just in years…but ever!  Those two [articles], all by themselves, is reason to be positive!  But wait, it gets better! Baghdad says they will be sending more money to Kurdistan… Kurdistan freely producing higher amounts of oil and shipping to Baghdad.  Baghdad and Kurdistan have fought for YEARS, neither one giving an inch…and now they are performing better than they have to? This isn’t rocket science – this is history and a plain-as-day painting on the wall…That they are acting upon the Agreement with no problems is all the proof I need that we will be seeing an actual LAW finalized, officially, soon.
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CURRENCY CODE SELL BUY

US dollar USD 1166.000 1164.000

CURRENCY CODE SELL BUY
US dollar USD 1166.000 1164.000
Euro EUR 1282.833 1282.192
British pound GBP 1791.909 1791.013
Canadian dollar CAD 975.406 974.918
Swiss franc CHF 1221.070 1220.460
Swedish krona SEK 137.105 137.037
Norwegian krone NOK 152.992 152.916
Danish krone DKK 171.918 171.832
Japanese yen JPY —– —–
Special
Drawing Rights
SDR 1628.949 1628.134

Indicative rates – 30.04.2015

http://www.cbi.iq/

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wmawhite - The current 50 IQD notes are forever gone  by at mid night tomorrow.  At mid night tomorrow they do not exist…and this is where it gets good for us…three weeks ago the cbi told everbody to expect a 50 and 100 IQD note with the like value of 50,000 IQD and 100,000 IQD.  How can a 50 IQD note that today is valued at $0.045 become worth $43.00…or a 100 IQD note that today would be valued at $0.09 become worth $86.00?  this is what the CBI is telling the citizens of Iraq.  They remove a 50 IQD note because it is not used/no security and it is not used because its value is only $0.045 but then say look for these new notes worth 1,000s of times more value.
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Kaperoni - Article quote:  “Finance Committee demanded in the House of Representatives issued a fifty and a hundred thousand dinars categories, as well as reducing the customs tariff imposed on traders, to maintain the stability of the market and re-dollar natural position…”    Sure sounds like something is going to start.  Especially since the 50 is retired April 30th.  May could be very interesting month!
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tman23 - The investment law is KEY.   Recall back in early November right after Jabouri hosted Moshen (CBI Gov) the investment law was set to be read and voted on…at the 11th hour Abadi asked Jabouri to table it until further notice. When the investment law goes IT ALL GOES…  And it has to be done before the 2nd semester of financials (July).   The question is will they begin the second half of the year with 3 zeros?   Logic says you open up the economy with new accounting in place AND not months after investors flush a ton of money in banks. The investors will bring liquidity…The investors that have been sidelined for the past year have been unable to withdraw total funds because of “lack of liquidity”. They are waiting on this investment law…AND remember Barzani said that Kurdistan will not open it’s economy dealing in 3 zeros…And it has been said continuously that sidelined investors won’t wait another 6 months on the sidelines.
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home7

Iraqi Dinar/Dollar auction 4-30-15

Currency Auctions Announcement No. (2941 – the most recent listing)

This daily currency auction was held in the Central Bank of Iraq on the 30-Apr-2015

The results were as follows:

DETAILS NOTES
Number of banks 20
Number of remittance companies 4
Auction price selling dinar / US$ 1166
Auction price buying dinar / US$ —–
Amount sold at auction price (US$) 154,906,000
Amount purchased at Auction price (US$) —–
Total offers for buying (US$) 154,906,000
Total offers for selling (US$) —–

Read More: http://dinarupdates.com/blog/
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Throwback Thursday

The Exchange Rate of Foreign Currency in Economic Feasibility Studies 

Below are the central controls related to the exchange rate of the foreign currency to convert the project inputs and outputs from foreign currency to its equivalent in the local currency, and that is by calculating the net discounted present value standard and the internal return on investments in economic analysis that governs investment projects that costs excess one million dinars.

Estimate the shadow price of foreign currency:…

3.      Estimate the amended exchange rate of the Iraqi dinar to be used in technical and economical feasibility studies and for (1.134) dollar per dinar. This price should be approved for 3 years until re-appreciation by the competent authorities.

Read More: http://dinarupdates.com/blog/
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Check out the Dinar Corp 120+Max – it’s EQUITY!!

Commercial Solicitation

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