THE DINAR OBSERVER DAILY Mar 6th

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tman23 - A few weeks ago when Abadi asked for citizens to be patient until June…THERE ARE NO DATES BEING IMPLIED BY ABADI FOR A REVALUATION OF THE CURRENCY…BUT RATHER MORE SO THE CITIZENS BEING PAID BACK PAY…AND REMEMBER HE PROMISED THEM RETROACTIVE FROM JANUARY 2014 ALONG WITH PAY INCREASES…AND TO DATE/ ABADI HAS KEPT ALL PROMISES.  [do you think we will have to wait until june according to that statement or that they will get all of their money by then (backpay)?]  I look to June…But there absolutely no doubt that we are in the moments of monetary reform and an announce could come at any time.
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Enorrste - My personal belief is that this could happen sooner rather than later because, as I have stated many times before, once the cat is out of the bag and a new exchange rate regime is created there is really nothing to hold it back, unless, of course, the CBI intervenes.  However, I don’t believe that it is in their best interest to intervene and create a “ratchet” effect on the rising of the dinar.  Their main concern will be on getting the large notes off the street in Iraq, and to the extent that they can do that seamlessly I see no reason for them to intervene in the international market.

…it would not surprise me to see the dinar get to $1 by the end of the year.  The CBI says that it will take 2 to 4 years (more recently they are leaning toward 2 rather than 4 according to the articles) and we would assume that all large notes would be off the streets at $.50 per dinar.  Even a 1000 dinar note would be worth $500 at that point.  So, I suspect that they are projecting to get to $.50 in two years.  I can live with that, but I think that international speculation will have more to say about it and that it will actually move up much more quickly, especially as investment moves into Iraq.  I would not be surprised to see oil denominated in dinars after the change in the exchange rate regime, although not immediately.  Imagine what that would do to the value...I am quite optomistic at this point.  I can wait a few more weeks to see the ticker start to move.
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Tune in for Round Table Chat w/Millionday @ 1:00PM EST – today (3/06) in the DU Chat Room!!

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

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Backdoc - …THE CBI OF IRAQ…SPOKE LOUDLY AND PROUD!  THEY TOLD US THEY WOULD DROP THE ZEROS AND RAISE THE VALUE OF THEIR CURRENCY AND THEY TOLD US WHEN! WOW!  …THEY TELL US THEY ARE BRINGING VALUE TO LAUNCH THEIR CURRENCY ON SUNDAY THE 8TH ! MMMM.  TODAY THEY DID MORE THAN TELL US WHAT DAY THEY WILL BRING A REAL VALUE TO THEIR CURRENCY, THEY TOLD US THEY NEEDED TO PAY SOME BILLS…THEY SAID THEY ARE SENDING DISBURSEMENTS ON SUNDAY SO THAT IS CONFIRMATION OF A RATE AND THE FACT THAT THE CURRENCY REFORM HAS BEEN ACCOMPLISHED!  WITH THE NOTE COUNT NOW SO LOW THEY WILL COME OUT WITH A HIGH SUPPORTIVE RATE AND THEY WILL DO THEIR JOB AS BEING A SUPPORT CURRENCY TO THE BASKET!

WHY ARE THEY BUYING SO MUCH GOLD?  PARTLY, WE KNOW ITS A STABILIZING FACTOR IN CURRENCY VALUE.   IT MAKES THEM A MORE STABLE DONOR!   ALSO ITS A WAY TO DE-DOLLARIZE AS THEY MAKE THE SHIFT TO THEIR OWN CURRENCY NOW.  AND FINALLY, IT WILL ALLOW THEM A MUCH HIGHER RATE!  LET’S GO BACK TO OUR DISCUSSION ABOUT THE LAUNCH ON THE 8TH!  WE KNOW THEY ARE GOING TO START MAKING PAYMENTS BUT I’M NOT SO SURE WE WILL SEE THE RATE INTERNATIONAL UNTIL OZ TAKES CARE OF OZ FIRST, THEN HE WILL LET IT GO TO US!  WE SHAN’T BE WAITING LONG NOW MY FRIENDS!  OZ TOLD THE TRIGGER MAN AT THE SAFE HOUSE TO JUST RELAX BECAUSE THE CAT IS OUT OF THE BAG NOW FOR SUNDAY,THE 8TH DAY!  HE SAID HE WILL TELL HIM WHEN TO PUSH THE INTERNATIONAL SWITCH WHILE FOLKS ARE SLEEPING…
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Enorrste - Article quote:  “… confirmed an economic expert d. Peace Sumaisem, on Thursday, on the importance of the subject of the deletion of zeros from the Iraqi dinar, considering it as a support of the national currency, and a reduction of inflation in the country.  Sumaisem said, in a statement to “Ein Iraq News”, “delete the zeros includes two basic objectives, the deletion of zeros, and the restructuring of the Iraqi currency, instead of the $ 100 equals 120 000 Iraqi dinars, after deleting three zeros become a $ 100 equals 100 Iraqi dinars, which is equal to the dollar and the dinar This means strengthening the Iraqi currency.”   I really get disgusted at the “economic experts” who still don’t understand the process.   It is a process, not an event…the process involves a change in the exchange rate regime rather than a LOP or an RV.  
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Tlar - …delete the zeros is the name of this project…it is an event and is an overnight RV at some level…it is a process. The only way the lower denoms could be released is with an immediate increase in value high enough to warrant their release.  How  many times has the CBI told us that both currencies will circulate for two years since 2010…15, 20?   Very, very few articles coming out support a float.  More and more continue to support an immediate rate change in value which at almost any rate kills [the] float theory starting at 1166…   A good question…Why would they want to bring out a currency at less than its true value.  Quite simply they would not.  So now with the government firmly behind this project and Maliki not being able to stop or threaten the project or the people at the CBI as he did when he was PM, and with the fundamentals being at least 3x’s better than they were in 2008 when the strategic study said that they could support an immediate increase of 1.13 to 1, I ask again, why in the world would they want to start the currency at 1166?  I can give you 20 good reasons why they would not, starting with it could potentially damage an already fragile economy struggling to recover.
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Breitling - You’re seeing counties taking shots at each other by devaluing their currency and everyone is adding to their money supply…their note count. [China, United States, Vietnam, Russia, Switzerland and the Euro and now Australia] What’s the only country we know taking away from their note count?  It’s that simple.   We know what Iraq is doing cause there is no reason to take notes out of the market if they were not going to add value to it…why would they take notes out of the market?  Why make those moves?  It’s very simple…if you know someone is putting gas in a car you know they are going to drive it.  You know if someone is taking the engine out of the car you know that car is not drivable.
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Kaperoni - ...delete the zeros is the name for a project, not a single event.  If you look at that way…you will realize this is not an overnight RV or some other action…it is a process…and the goal is 1 to $1 The dinar will rise gradually over a period of 2 years or more as stated…with the end result a new currency without the zeros.
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Adam Montana - [...if Iraq is going to rv, ri or whatever...AND...the CBI is going to take the 50 dinar notes out of the equation during the two month period of March 1 to April 30 - why should we expect anything to happen before those said 50 dinar notes are out of circulation?]   Don’t let them fool you. They will move the rate whenever they think it is best for them, and the best time could certainly be when everyone thinks it would be hardest… like right now, in the middle of a 50-note test.
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Mailman17 - ONE OF MY CLOSEST CONTACTS AND A LONG TIME FRIEND WHO I WILL CALL BUBBA FOR NOW…HAS ALSO GONE OVER THE RECENT NEWS AND ARTICLES ESPECIALLY CBI ARTICLES AND WE BOTH CONCUR THAT THE CBI WOULD NEVER HAVE LET THE CAT OUT OF THE BAG AND TELL US IN SHORT THEIR INTENTIONS. THEY ARE READY TO IMPLEMENT ALL MONETARY AND ECONOMIC REFORMS THAT THEY HAS BEEN WORKING ON FOR YEARS AND ACCELERATED SINCE ABADI TOOK OFFICE. IMPLEMENT…NOT PLAN, NOT LOOK AT…NOT LOOKEY SEE, TALK ABOUT OVER COFFEE…BUT IMPLEMENT…ACTIVATE….MAKE IT HAPPEN…NOW. THE NEXT FEW DAYS SHOULD BE VERY INTERESTING

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Tlar - Article quote:   “Sumaisem said, in a statement to “Ein Iraq News”, “delete the zeros includes two basic objectives”, “the deletion of zeros”, and the “restructuring of the Iraqi currency”,    The article implies that the zeros that are being deleted are not the zeros on the currency.  She reiterates that they are going to “delete the zeros” and then “restructure the currency“.  If this was a move to lop she would definitely have stated it differently.  She might have said something like we are going to delete the zeros off the currency.  It is understood that if you delete the “leading” zeros off the nominal rate, that it follows you would have to restructure the currency.  Phrasing here is very important as it allows us to see inside the project exactly what they are going to do. Of course this assumes she is an insider with accurate information.  The way she phrased it, it is an RV only.  If it were a float only, again she would have phrased it differently maybe saying something like the intentions are to allow the currency to get to a dollar and when it does we will restructure the currency.  She certainly thinks and talks like she is an insider with accurate knowledge of the project, but the question remains she is privy to the actual rate or is just stating this because it has a long time goal of Shabibi’s.

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Millionday - Article quote:  “…the Finance Committee and an expert in economic affairs the central bank to the need to activate the financial trading by linking the Iraqi dinar to a basket of foreign currencies…“   CBI WANTS TO DIVERSIFY THE ECONOMY BY NOT PAIRING WITH THE US DOLLAR BUT WITH THE SDR (BASKET OF CURRENCIES) THE US DOLLAR IS WHAT OIL IS PURCHASED WITH SO THEY WILL USE IT FOR TRADE BUT…PEGGING TO THE SDR WILL ADD STABILITY TO THE EXCHANGE RATE AND MINIMIZE ANY FLUXUATION THAT MAY HAVE BEEN AVOIDED.  SOMETIMES ONE CURRENCY IN THE BASKET MAY NOT BE DOING AS WELL AS ANOTHER — SO THIS WILL HELP EVEN OUT THAT SHOCK WITH THE VALUE OF THE DINAR.  IF THE DINAR IS USED IN THE SDR — THAT WOULD MEAN THEY ARE A VERY STRONG CURRENCY AS WELL VERY HUGE NEWS THAT WAS – THEY ARE HEADED FOR INTERNATIONAL RECOGNITION BY PEGGING BECAUSE THAT IS WHAT IT SIGNIFIES.  THEY ARE TALKING ABOUT HOW TO COME OUT INTERNATIONALLY AND PREPARING FOR IT.

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Source at the Central Bank: banks will begin the implementation of remittances to their customers starting next Sunday

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Alsumaria News / Baghdad  - A source in the Iraqi Central Bank, on Thursday, the banks will begin the implementation of remittances to their customers starting next Sunday, noting that it came after the completion of all the procedures and mechanisms by banks…

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

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OOTW - Article quote:  “The country suffers the deficit as Iraq could not support its currency only if it received grants from third parties, and if possible its implementation is important (THE ZEROES PROJECT), reframes the currency indirectly supporting the national currency, and when the currency they restructure will reduce inflation in Iraq.“   AFTER THIS ARTICLE CAME OUT, I’VE BEEN INUNDATED WITH QUESTIONS ASKING ME IF I BELIEVE THIS IS A ‘LOP’ ARTICLE - ALL I CAN SAY IS A LOP WILL NOT ADDRESS INFLATION - SHE’S SAYING (IT SEEMS TO ME) THAT THE ONLY WAY THEY CAN SUPPORT THE WORTH OF THE CURRENCY IS TO ASSIGN MORE VALUE TO IT, IF NOT, THEY’LL NEED (ADDITIONAL) LOANS. WHY WOULD THEY NEED ADDITIONAL LOANS WITH ALL OF THE RESERVES, INCL GOLD THEY HOLD, IF THEY WERE NOT GOING TO INCREASE THE WORTH OF THE DINAR, VIA THE PROJECT “DELETE THE ZEROS”?…JIMO
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Mailman17 - DOESNT IT SEEM ODD THAT OF ALL THE BILLS IRAQ IS WORRIED ABOUT IS THE ALMOST NON EXISTENT ONES IN THE ACTUAL POSSESSION OF IRAQIS? LETS FACE IT..THERE ARE BUT A FEW OF THE ACTUAL PRINTED 50′S IN IRAQ. MOST ARE IN OUR HANDS. THEY LOOK AT THE 50 LIKE THE COINS…USELESS AND THEY ALWAYS HAVE FROM DAY ONE. WHENEVER IRAQ NEEDED MORE OF A CURRENCY PRINTED…THEY NEVER DID THE 50.  WHAT WAS OUT WAS OUT. BUT…THAT SINGLE DENOM IS ALSO THE ONLY DENOM THAT WILL BE REPRESENTED BY THE NEW NOTES AND IF IRAQ IS TO START A NEW MONETARY REGIME WHICH INCLUDES A NEW BATCH OF NOTES TO REPRESENT THEIR NEW RATE (WHICH I STILL SAY 1-1)THEY NEED TO GET THAT PESKY OLD 50 DINAR NOTE OUT OF THE WAY…THE VERY LITTLE AMOUNT THAT IS PRESENT.  THEY NEED THE NEW NOTES TO REPRESENT THE NEW IRAQ AND THAT WILL FINALIZE DE-DOLLARIZATION. WE SHOULD BE ABLE TO CASH IN OUR 50 NOTES AT THE BANKS PENDING IRAQ RELEASING THE NEW RATE ASAP. I OWN QUITE A FEW STACKS MYSELF AND AM NOT WORRIED… LETS SEE WHAT THEY DO IN THE COMING DAYS..JMO
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Tlar - Article quote:  “A source in the Iraqi Central Bank, on Thursday, the banks will begin the implementation of remittances to their customers starting next Sunday, noting that it came after the completion of all the procedures and mechanisms by banks.”  [Is this the same remittance with international banks which it would need internationally accepted currency?]    Unfortunately it is not the definitive stopper we are hoping to see.  All banks that will be doing remittances are set up to buy USD directly from the CBI under the new mechanism.  So far they are just doing the same job that the CBI was doing before the CBI passed this responsibility to these banks.  That means the banks will or can send USD on behalf of their clients.  So they do not have to have an internationally accepted currency (dinar) to complete this task at this time.  The currency they will be sending (USD) is internationally accepted.
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Expert: delete zeros supporting the national currency and reduce inflation in the country

Baghdad: the … Economic expert asserted Dr. Salam smeisim, Thursday, the importance of the subject delete zeros from Iraqi dinar, saying that to support the national currency, and reduction of inflation in the country.

Smeisim said, in a statement to “set the Iraq News, the” delete zeros contains two basic objectives, delete the zeros, and the restructuring of the Iraqi currency, instead of the $ 100 worth 120,000 Iraqi dinars, then delete the three zeros becomes 100 $ 100 worth of Iraqi dinar, which equals $ dinar, this means strengthening the Iraqi currency…

Read More: http://dinarupdates.com/blog/
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Poppy3 - IF YOUR REMEMBER DR SHABIBI STATED SEVERAL TIMES IRAQ WOULD HAVE AND CAN SUPPORT THE HIGHEST RATE IN THE MIDDLE EAST AND THEY ARE CONFIRMING AGAIN JUST EXACTLY WHAT HE STATED LONG AGO.  BY THE WAY THE HIGHEST IN THE MIDDLE EAST ALSO MEANS THE HIGHEST IN THE WORLD BECAUSE KUWAITS IS THE HIGHEST.THIS IS ALSO WHY POPPY3 HAS ALWAY SAID $3.00 PLUS WILL BE THE INTRO RATE. NOT ANYTHING LOW. LOW RATES JUST WILL NOT WORK FOR THEM TO ACCOMPLISH ANY OF THE THINGS THEY HAVE SAID PLAINLY THEY WILL COMPLETE INTERNATIONALLY.
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Millionday - Article quote: “Said the Iraqi Central Bank, on Wednesday, he has a tendency to increase gold reserves basket, stressing that he shall move the basket almost daily.”  CBI WILL BE ADDING TO GOLD RESERVES VERY OFTEN TO SUPPORT THE VALUE OF THE DINAR.  THEY HAVE HUGE RESERVES TO HOLD THE VALUE OF THE DINAR – THAT IS WHAT RESERVES ARE FOR — HARD BACKED VALUE AND CONFIDENCE IN THE CURRENCY.  Quote:  “…the CBI independent bank under the law issued on the sixth of March 2004, as an independent body, which is responsible for maintaining price stability and the implementation of monetary policy, including exchange rate policies…“ THEY ARE REMINDING ONE MORE TIME THAT THEY ARE INDEPENDENT AND ALSO HAVE THE ABILITY TO SET THE EXCHANGE RATE.
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Mailman17 - NO WHERE IN HISTORY HAS A NATION RELEASED THEIR NEW DENOMS ONE BY ONE…EVER. THE SMALLS WILL COME OUT TOGETHER INCLUDING THE FILS AND 10 CENTS IS NOT AN OPTION IMO.    AS FAR AS THE 50 DINAR NOTE IS CONCERNED…ASSUMING THEY GET A RATE OUT WITHIN THE NEXT WEEK OR AT LEAST WITHIN THE SUPPOSED 60 DAY MARK, I DO NOT SEE CASHING THEM IN AT YOUR LOCAL BANK WILL BE A PROBLEM…ON PAR HAS ALWAYS BEEN THE PLAN FROM DAY ONE. WHEN AND IF THE BUDGET IS TRULY RELEASED, AND FUNDS ARE ALLOCATED, TEN CENTS AND A FLOAT WILL NOT SUFFICE. THEY NEED TO COME OUT STRONG.  NOW, IF THEY WANT TO GO BY THEIR ORIGINAL PLAN AND MANAGE A FLOAT FROM A 1-1…THAT IS VERY POSSIBLE.  IRAQ HAS A GREEN LIGHT AND I SEE THEM LAYING RUBBER WITH THEIR ECONOMIC AND MONETARY PROBLEMS IN THEIR REAR VIEW MIRROR…JMO.
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Female Kurdish fighters battling ISIS win Israeli hearts

Israelis have become captivated by the YPJ’s female fighters. AFP photo.

TEL AVIV, Israel – On December 22, Israelis sat down before their TV sets to watch the popular investigative news program “Uvda,” or Fact. They saw a familiar personage in Itai Anghel, well-known to Israelis for his reports from war zones around the world, including Kosovo, Afghanistan, Lebanon and Iraq…

…But to see women from another Middle Eastern nation fighting — and defeating — ISIS in entirely female fighting units was remarkable. Israelis saw proud, young female Kurdish fighters going in to battle ISIS with no discernable hesitation. In fact, they even announced their presence with ululations, meant to strike fear into the hearts of the jihadists, who believe they will be deprived of heaven if killed by a woman…

Read More: http://dinarupdates.com/blog/
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Adam Montana - [Once currency is international, won't most banks exchange it?]   Once the currency is international, you are correct, most major banks will be exchanging it.  [Is there a scenario, in your opinion, where Iraq would NOT honor any dinar outside of their country?]   Yes, but it’s more complicated than that. Iraq doesn’t actually do business “outside” of their country. Every exchange happens at the head desk of the CBI.  If they want to move up in the world, they will raise their exchange rate and start doing business with the major world banks.
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Tlar - Abadi has done a great job in turning the country in the right direction.  It is my belief we will see currency change shortly or the country will financially implode.
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Millionday - Iraqi Central Bank announced in May 2012 that the process of deletion of zeros from the country of Iraq will be transferred to the trillions of billions, indicating that the process of replacing the currency needs to be approved by parliament.“  THIS MEANS THAT IT MAY TO TAKE ONE OR TWO YEARS TO COMPLETE.  [does this mean we may not see any change in rate for at least a year or two?]  NO THIS MEANS THAT IT MAY TAKE ONE OR TWO YEARS FOR ALL OF THE THREE ZERO CURRENCY TO MAKE IT BACK TO CBI. [Do you think that the removal of the 50s was the start?]   YES I THINK IT WAS THE FIRST STEP… THE REASON THEY GAVE FOR THAT MOVE WAS TO LESSON CONFUSION FOR THE DELETION OF THE THREE ZERO CURRENCY.   THE REMOVAL OF THE THREE ZERO CURRENCY IS A NEED FROM LACK OF USE DUE TO A CHANGE IN PRICES THEY MUST BE DOING — IF THEY DONT NEED THEM THEY WILL REMOVE THEM IMO.
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Keywords: cash sales dollar continuously .. no ceilings on the withdrawal of funds

Keywords: cash sales dollar continuously .. no ceilings on the withdrawal of funds

BAGHDAD / Amer Mohi - Denied the central bank, on Tuesday, he stopped selling the dollar, pointing out that the bank gave the green light to implement the project to delete the zeros from the currency, while stressing taken new measures to trading in dollars, expect a decision parliamentary finance committee return dinar to his strength, returned central decisions to ” good “because it is a challenge of smuggling currency out of the country…

Read More: http://dinarupdates.com/blog/
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My Ladies - I THINK 3 THINGS WILL HAPPEN AT THE SAME TIME…THE BIS WILL SAY GO…THE UN WILL MAKE AN ANNOUNCEMENT OF IRAQ HAVING THEIR CURRENCY BACK AND IMF WILL FINISH ARTICLE 8 COMPLIANCES.  [But U forgot 1 thing-WHEN?]  CRYSTAL BALL IS STILL FOGGY.
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Tlar - Article:    ”the file to delete the zeros of the Iraqi currency is put into effect, and the World Bank gave the green light to implement it.”   It occurs to me that if they can get it done before March 31st, the end of the first quarter, their accounting system can still be made retroactive back to the first of the year.  For accounting purposes, I would think March 31st or anytime before would be the best time to do this for the CBI as they themselves have stated a number of timesThere has been no intel other than the bond issue I reported on 2 weeks back.  It was reported back then that the bonds were being held up and that Iraq would be back and sign the agreement, providing a new rate before they would actually commence sales of these bonds.  Everything seems to be lining up nicely.  Here’s to hope
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My Ladies & NOVA - NO ONE IN IRAQ HAS BEEN PAID ANYTHING. IRAQ HAS NOT ADOPTED A CURRENCY YET. THEY CAN NOT ADOPT 1166 WHICH IS A PROGRAM RATE AND USE IT TO FULFILL THE OBLIGATIONS IN THE BUDGET.  IF WE SEE IRAQ PAY ANYONE AT 1166 THIS WILL SIGNAL THEY HAVE ADOPTED 1166 AS AN OFFICIAL RATE AND WE CALL IT GAME OVER.  SO NO ONE GETTING PAID = GOOD FOR US.  ARE WE CLOSE TO THE END? YES WE ARE, BUT NOT BECAUSE WE SAY SO BUT BECAUSE THE CBI AND THE GOI SAY SO.
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Integrity Committee: trillion and 14 million dinars from Iraq funds registered for corrupt officials

Integrity Committee: trillion and 14 million dinars from Iraq funds registered for corrupt officials

BAGHDAD / JD / .. revealed to the Parliamentary Integrity Committee on efforts to re-trillion and 14 million of Iraq’s money smuggled in post, as pointed out that Lebanon at the forefront of those countries where corrupt money invested.

He said the Integrity Committee in the House of Representatives member Haider Alfoada in a special statement to the Agency / BD /: The Integrity Committee Tbzlk efforts and movements, and in coordination with the Integrity Commission to return the money, which recorded the names and the assets of some former officials and those close to them who occupied important positions in the state were involved with corruption Maliki…

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

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sczin11 - I THINK WE ARE IN A VERY GOOD POSITION RIGHT NOW…I AM A BELIEVER THERE WILL BE NO FLOATS, AND THAT THE ORIGINAL IMF REPORT STATED $3.22, + 20% INFLATION, AND WITHIN 50 CENTS OF KUWAIT…I AM LOOKING AT $3.86-4.25.
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NOVA - OIL EXPORTS STAYING HIGH AND NOTE COUNT STAYING LOW IS WHAT DEMANDS THE EXCHANGE RATE EVERYONE WANTS.
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Backdoc - I CANT SEE THEM COMING OUT WITH A RIDICULOUS RATE WHICH WOULD DESTROY THE CURRENCY VALUE AFTER PULLING THE MAJORITY OUT… WHY WOULD THEY PULL OUT THAT MUCH CURRENCY ONLY TO INJECT A BUNCH AT .10?  CRAZY.   THE RATE MUST BE HIGH.  I BELIEVE THE RATE WILL BE HIGHER THAN MOST THINK.  I THINK IRAQ HAS TRIED TO BE VERY EVASIVE ON THE GOLD AMOUNTS THEY NOW HAVE… IF OIL DROPS OR JUST STAYS LOW IRAQ WILL NEED A HIGHER RATE.
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President Barzani: KRG supports Iraq’s political system

Fuad Masum and Masoud Barzani

Fuad Masum and Masoud Barzani

ERBIL, Kurdistan Region – President Masoud Barzani said the Kurdistan Regional Government will continue to support Iraq’s political system, according to a statement office following a meeting with Iraq’s President Fuad Masum.

The presidents, who met on Wednesday at Salahaddin resort in Erbil province, discussed political and economic issues, the ongoing war against ISIS, and the new Baghdad-Erbil oil agreement, according to the statement…

Read More: http://dinarupdates.com/blog/
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Delta - we have several sources confirmed…this CBI article is for real…100% original fact!  This is what we’ve been waiting for! This is amazing! Wonderful confirmation…right from the horses-mouth…this was the announcement from the CBI.  The first thing they are going to do is increase the value of the IQD…and gradually introduce the lower denoms.  We believe that everything is done. We should/must see the new rate from the CBI in the next 24/48 hours…because of the distributions of the budget.  Based on what we see…the budget…and what the Kurds got…the starting rate…could come up at 10 cents…I don’t see the rate coming out higher than 30 cents. Between 10 and 30 cents.  We may not have to wait for 2 years to see the rate go higher. Free float may drive it up. We believe they are about ready to pull the trigger.
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Adam Montana - …regarding the 50 dinar notes being squashed by the CBI…For most of us, this isn’t a big deal when it’s related to our actual physical holdings.  But it IS a big deal when you apply this situation to what we expect to happen when the CBI pulls the BIG trigger. When a country changes value or actual notes, they can choose to let the old notes run at the same time as the new notes, or they can implement a ”cash in” time. This is completely arbitrary – they can say 10 days, 10 weeks, 10 years, or whatever they want. In this situation, the CBI appears to be doing a “trial run” on the cash-in time. I always thought they would give us a minimum of 90 days, but with the 50 notes, they basically did a ~45 day cash in timeframe. Get your 50′s turned in within that timeframe, or they are worthless

My thoughts on this are pretty straight forward. 1. No need to panic. A 50 dinar note is worth a nickel right now, so this is a perfect way for the CBI to do such a “practice run”.  If you’re heavily invested in Iraqi nickels, my condolences to you… if that was my situation, I’d be looking for a dealer that will trade them, or I’d keep them as souvenirs. 2. I STRONGLY doubt that they plan on doing the same thing with the larger notes, but even IF they do, I understand that we are going to have a lot more options for exchanging. The game changes drastically when you switch from nickels to hundreds!  Again… no reason to freak out…

3. Here’s the real silver lining.  Since this was announced, have you seen any kind of pandemonium or an irregular blast of news about the ISX dropping or pillaging and plundering because of a Great Depression coming to Iraq?  No, you haven’t. And that’s because axing the 50s isn’t a major negative… in fact, it has more upside than most people realize. On that note, I’ll wrap up…by mentioning that I am VERY anxious to get some HCL news. There is a lot going on right now, and hopefully that can all play out in the next week or 2, then we can have some HCL news.
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Deputy: a new round of talks between Baghdad and Erbil agreement about oil 


Khandan – The National Alliance
, all near the start of a new round of the governments of the center and the Kurdistan region on the agreement between the oil agreement negotiations. The MP for the National Alliance Ibtisam al-Hilali told the “New Morning” that “the coming days will witness the return of the talks between Baghdad and Erbil on the former oil Agreement between the two parties. ” She Hilali, that “the Prime Minister Haider al-Abadi explained to the Board of disagreement House of Representatives and the current oil exports,” adding that “the government is committed to what was stated in the budget of 2015, which included an agreement with the province to export its oil through the Federal Marketing Company (SOMO).”…

http://www.dinarupdates.com/showthread.php?15190-quot-The-Dinar-Daily-quot-Wednesday-4-March-2015&p=99623&viewfull=1#post99623
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Frank26 - …the CBI gave the green-light to lift the 3 zeros from the exchange rate. WOW!!!  The article is NOT an opinion piece from an economist. Verified…confirmed…Seriously…this is a monumental step!!! The MR for the IQD has been done in 4 stages.  We believe we are in the final stages right now.    I believe we are going to see the process speed up as we head towards March 14th of this month.
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My Ladies - HCL IS FINISHED AND IN THE BUDGET…THE BUDGET IS PUBLISHED IN THE  GAZETTE …THERE ARE 50 PAGES PUBLISHED INCLUDING GRAPHS AND CHARTS.  …10 – 30 CENTS WILL NOT WORK…COMMON SENSE DOES NOT WASH WITH THOSE NUMBERS.   WHEN THE BANKING SYSTEM GOES LIVE IT GOES EVERY WHERE, THERE CAN BE NO PRICE FOR THIS HERE AND PRICE FOR THAT THERE, IT JUST DOESN’T WORK. …ARTICLE WE SAW LAST NIGHT…THE CBI SAYS THE DINAR WILL RISE TO STRENGTH IN THE COMING DAYS AND I THINK WE ARE EVER CLOSER TO THIS HAPPENING.  THIS IS A COUNTRY REBUILDING ITSELF FROM DUST, THIS IS A CURRENCY COMING OUT WITH SOME HEAVY RESPONSIBILITY…THINGS ARE MOVING VERY NICELY.   IN TWO OCCASIONS THE GOI AND THE CBI HAVE TOLD US IN THE COMING DAYS IRAQ WILL RISE.
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tman23 - Here is some factual news I will share…They are distributing Qi Cards out of country through the Iraq Embassy…And to cut to the chase…1 million IQD had a ATM show the balance available as $678 USD.  The ATM was in AMERICA…There are a selected few that are working being part of a beta phase pre se’…They are working on opening distribution in America …I don’t look at the Qi Card for a rate but more so the banks and the process of clearing payments…International!
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Millionday - IT APPEARS THERE IS ALOT GOING ON AND I AM EXCITED.  THE BEST PART IS THE COORDINATION OF THE CBI AND PRIVATE BANKS.  THIS MY FRIENDS MEANS THE CURRENCY WILL BE SOLD AT — SUPPLY AND DEMAND — A MARKET ECONOMY DEFINITION.  [do I understand they will continue selling their currency in supply and demand?]  THEY WILL BE SELLING IT ONLY UNDER A MARKET ECONOMY STAGE OF SUPPLY AND DEMAND AS WITH MANY OTHER COUNTRIES… WE ARE SEEING NORMALCY.
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BGG - On Tuesday the CBI gave the green light for the “delete the zeros project”.   This is the best news of the dinar decade.  There has not been any news better than that in print.  For the CBI to talk about this publicly, for us investors,  it is huge news because the deletion of the 3 zeros project is in some form or fashion a shift in the value of the currency.  It’s going to take something to get those notes out of the marketplace.  There’s really no (other) reason to take those notes out of the marketplace. This is a huge step forward for the investment and let’s hope they move forward quickly & hope they implement it in short order.  I think they will.  There is conversation in the community about the $.10 mark. I am not as concerned about the number as I am the “when”. It’s not impossible to believe it will start low.
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Poppy3 - NO OFFICIAL FROM ANY AGENCY THAT HAS ANYTHING TO DO WITH ANY RATE HAS EVER SUGGESTED A LOW RATE?  PERIOD.  IMF SAID AND APPROVED AND POSTED ON THEIR WEB SITE IN OCT 2010 THEY APPROVED $3.22 CENTS PLUS UP TO 20% FOR INFLATION AND ALL THAT HAS CHANGE FINANCIALLY SINCE THEN…THEY HAVE ALMOST DOUBLED THEIR FINANCIAL RESERVES. AT LEAST 10 TIMES CBI OFFICIALS HAVE TALKED CLOSE TO KUWAIT RATE BUT ABOVE AND THEY ARE AT $3.50 PLUS.  
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Breitling - [Is it safe to assume that if the process to retire the 50 dinar note will take till the end of April that the dinar won't change in value during the process of exchange, therefor our next window won't begin until the process is complete? Nope has nothing to do with it…the float could start today.  It could have started 2 years ago.  It’s always been on the table that they were going to revalue at a small rate and then float from that point or float from the rate we are at right now…it will float from 1166 dinar on up.  Can they come up with 5 or 6 cents or 10 cents?  Sure!  Because they reduced the note count so much…the language they are using is they want to float it from the rate that it is and that’s basically what they’ve told us
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sczin11 - [do you know of an article which states a 25k will equal 25 'only' in country?]  HAVE NEVER SEEN AN ARTICLE LIKE THAT IN OR OUT-  …HAVE SEEN NOTHING ON A LOP…IT IS ALL INTERPRETATION ON “REMOVING THE ZEROES” OR ” DELETION OF ZEROES”.  WHY WOULD THEY NEED 2 YEARS TO LOP?
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Delta - CBI announcement about the 50 IQD note…surprised everyone.  It’s not a bad thing. The Iraqi coins and the 50 dinar note has never been popular in Iraq. (Equivalent of 4 cents USD – at the 1166 rate).  IMO, the rate is going to come up around 10 cents. So many indications showing that.  The reason…if you do it at 10 cents…the 500 dinars would be equivalent to around 50 dollars.  Because Iraqi’s use a lot of US currency there is going to be a lot of confusion in the marketplace with this 50 and the 500.  You hardly see 50 dinar notes in Iraq. Most people who hold 50 IQD notes are investors outside of Iraq.  About 90% of those 50 notes are outside of Iraq.  People have 2 months to redeem 50 dinar notes. The CBI knows exactly what they have outside of Iraq. Most people won’t bother to cash-in the 50 dinar notes because they are only worth about 4 cents.
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Abadi economic adviser: Budget approved the payment of oil companies vouchers or treasury bonds 


Long-Presse / Baghdad 
Economic Adviser to the Prime Minister, confirmed the appearance of Mohammed Saleh, said Wednesday that the federal budget for 2015, the current law authorized the Minister of Finance to issue money orders treasury or financial bonds to oil companies operating in Iraq, not to exceed a total of 12 billion dollars, as he emphasized that the duration of issuance and interest incurred by Mitroctan the Ministry of Finance.

He said the appearance of Mohammed Saleh said in an interview to the (long-Presse), said that “Article 34 of the General Budget Act of the current 2015 included the benefits of oil companies, and authorized the Minister of Finance, at the request of the Prime Minister, or the oil minister, the issuance of treasury remittances or securities , when needed, to cover the entitlements of those companies. “…

http://www.dinarupdates.com/showthread.php?15190-quot-The-Dinar-Daily-quot-Wednesday-4-March-2015&p=99614&viewfull=1#post99614
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Aggiedad77 - The news is full of green lights ...PM Abadi has even been given a green light by the COM to do some things to the budget, this is probably why the delay in us seeing the budget…looking for laws associated with the budget still…but am starting to believe they may show up when the budget is completely unveiled to the world…DAASH is taking a pounding from the air and now from land in the Salahuddin province and specifically Tikrit…so says the news…
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tman23 - IMO, PM Abadi has what he needs…The Currency Reform Board at the CBI has what they need…Barzani last week borrowed 500 million dollars from Turkey to pay salaries and is in Italy cutting more deals…The Kurds had said they will not open their economy dealing with 3 zero accounting…Abadi told his Ministers to prepare to resume work in the liberated areas…The CBI has given the green light…For what we are interested in…CURRENCY VALUE… Forget about Parliament…they are now riding in the back seat of the RV vehicle.
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sczin11 - IMHO, MONETARY REFORM CONTINUES … SMART CARDS FOR MANY PENSION RECEIVERS, WENT LIVE TODAY… DELETION OF THE ZEROES PROJECT WAS GIVEN THE “GREEN LIGHT” BY ACTING GOVERNOR OF THE CBI, TODAY…TAKING 2 YEARS TO REMOVE THE NOTES FROM THE STREET IN IMF STANDARDS AND PROTOCOLS…TARIFFS AND TAXES SUPPOSEDLY BEING IMPOSED, NOW…THEY ARE NECESSARY AS PER THE BUDGET, IN ORDER TO REDUCE THE BUDGET DEFICIT…THEY CAN NOT AFFORD TO DELAY THE IMPLEMENTATION/COLLECTION, OF THESE VERY INTEGRAL REVENUES, IN ORDER TO BALANCE THE BUDGET…THE 50 DINAR NOTES COMING IN ALREADY…NO VALUE NOW, BUT WITH A SIGNIFICANT CHANGE IN VALUE, THEY DONT HAVE THE NECESSARY SECURITY NEEDED TO COMPLY WITH THE INTL REGULATIONS AND STANDARDS FOR ANTI MONEY LAUNDERING AND COUNTERFEITING, THAT ALL THE OTHER DENOMS POSSESS…DE-DOLLARIZING HAS BEEN PROGRESSING…MAINTAINING STABILITY OF THE IRAQI DINAR HAS BEEN A PRIORITY…FOLKS…THERE IS A PLAN, IT IS IN PROCESS, WE DON’T HAVE A CHECKLIST…BUT, WE ARE A PART OF IT! 
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Central Bank gives the green light to implement “the deletion of zeros,” 

Long-Presse / Baghdad - Detection Governor of the Central Bank of Iraq on the Keywords, on Tuesday, giving a green light to direct the implementation of file deletion of zeros from the currency, and as he emphasized that the completion of administrative matters of this file will take two years, pointed out that the bank began creating new currency models.

Alak said during a press conference held by the bank building Jadiriyah district in central Baghdad, and attended (range Press), that “the deletion of zeros from the Iraqi currency file is put into practice,” asserting that “the Bank gave the green light to implement this.”  The Keywords, that “the completion of administrative matters on this file will take two years,” noting that “the bank began creating new currency models.”…

Read More: http://dinarupdates.com/blog/
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sczin11 - [ISN'T THE ISX SUPPOSED TO DO SOMETHING ON MARCH 5TH...?]  MORE MISUNDERSTANDING OR MISINTERPRETATION…ISX HAS BEEN OPEN SINCE 1/11/15.
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Enorrste - Article quote:  “Governor of the Central Bank announced…on Tuesday, the deletion of zeros existing project, as pointed out it was given the green light for its implementation…“     I am literally “tickled pink” at this announcement.  We get a green light on starting the process and, in the same article, a statement that it will take up to two years to implement.  That means that a LOP is out of the question and that the float will begin shortly, in my view.  I can’t wait to see the first tick up on the official rate!
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Frank26 - Article quote:  “delete the zeros existing project and we have given the green light for its implementation announced the Governor of the Central Bank“  It is a GREEN LIGHT…Given by a GREEN ZONE effort that history will never show. They are READY...Well alright alright then …Let’s Roll!  I like numbers …31415.
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Delta - They are not going to delete the 3 zeros right away.  Based on Abadi’s statement the rate could come out around 10 cents and free float over the next 3 or 4 months. Not sure. If the CBI increases the value to 10 cents  they can bridge the gap in the budget with the revaluation.  The meeting that took place about 24 hours ago between the acting financial committee and the acting governor of the CBI…talked about the deletion of the zeros. They talked about a lot things…and we don’t have a lot of details but it appears that the CBI is about to pull the trigger. They don’t know exactly when but the financial committee knows that when they are ready…in the next 24-48 hours the ministries will start the distribution of the money. Very powerful confirmation. They might drop the 2 zeros and come up with about 10 cents. IMO — It will start from there.
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Frank26 - Article:   “Parliamentary Finance hosts the Governor of the CBI and looking him Cancel zeros from currency.”  …looking for ways to cancel the 3 zero’s on the Dinar. Good clarity…no confusion about this article. Abolish the 3 zero’s! They are going to raise the value of their currency. The evidence is pouring in daily. The GOI and CBI are doing this together. We told you the budget is not yet for your eyes …give it at least 2 weeks because a lot of little things are still being done. Will it take another 2 weeks?  I don’t know. The reinstatement of the value of the dinar will be done “electronically” – and so will be the budget.  There is a reason why the budget isn’t opened up yet. The price of oil is one of them.  We were looking on March 1st for the laws. They are in position but not approved (yet). Once we see the budget opened (exposed) you will see a bunch of information.  IMO – we are very close to seeing the MR of the IQD. 
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Breitling - Is it possible the CBI is pulling the 50 dinar note to replace it with the 25 and 100 coins?  No!  They are supposedly going to mint coins mixed with precious metal…they are not going to mint coins with a precious metal at a tenth of a penny.  What happens to those 50 dinar notes?  There is a certain amount of wealth …and there is a certain number of notes that represent that wealth.  If they pull notes out of the market that same wealth is still there and it’s got to be represented by what’s left over.  And it goes in reverse if they add [notes]…
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Poppy3 - KEEP IN MIND THINGS CHANGE GOOD AND BAD IN IRAQ IN MINUTES. ALL INFO STILL SHOWING THEY ARE IN A HURRY AND KNOW WHERE THEY NEED TO BE TO BECOME GLOBAL AND HAVE SHOWN NO SIGNS OF SLOWING DOWN IN MEETING THEIR GOALS AS FAST AS POSSIBLE.  I HAVE SEEN THEM NO LESS THAN 10 TIMES IN THE LAST TWO MONTHS…SAY THEY ARE NOT COMING BACK FOR DAYS OR WEEKS AND DO YOU KNOW HOW MANY DAYS THEY HAVE TAKEN OFF —- ZERO — THERE HAVE BEEN COMMITTEE MEETING S EVERY DAY PERIOD.
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CBI ANNOUNCEMENT MARCH 3, 2015

Central Bank lowers fees imposed imposed on banks by half

{Baghdad: Euphrates News} central bank announced Tuesday, reduction of the fines imposed on banks by half the proportion of {200%} to {100%}.

According to a statement of the bank and agency {Euphrates News} received a copy of it “later Bamamna No. number 12/684 in 12/02/2013, which included the imposition of fines on banks, according to the specified percentages and that’s where the imposition of fines was to evaluate the performance of employees in banks and reassure the public the number of completion Securities received by the banking system and to the approval of the Governor decided to reduce the fine imposed on the irregularities {shortage, and various foreign securities} discovered in Eyadaatkm ratio of {200%} to {100%} “.

“The decision to suspend the fine to ensure counterfeit papers discovered by {500}% make up the shortfall with effect from 03.01.2015″ .anthy

Read More: http://dinarupdates.com/blog/
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sczin11 - SINCE THE RAISING OF THE VALUE OF THE IRAQI DINAR, HAS LITTLE DIRECT BEARING ON THE CITIZENS OF IRAQ, I DO NOT THINK THE SALARIES, OR MONIES SENT BY BAGHDAD TO KURDS IS A SIGNIFICANT EVENT TO MONITOR… THE BENEFIT TO THE CITIZENS WILL BE THE PURCHASING POWER OF THE COUNTRYMORE CURIOUS TO ME IS, THEY HAVE BEEN ANNOUNCING FOR THE LAST 30 DAYS OR SO, THE RELEASING OF PENSION MONEY ONTO THE SMART CARDS, TO BE USED “INSIDE AND OUTSIDE” OF THEIR COUNTRY…OVER THE WEEKEND WE SAW, THEY WERE GOING TO RELEASE IN NEXT FEW DAYS, IN 4 COUNTRIES… LEBANON, JORDAN, UAE, AND SAUDIA ARABIE, I THINK…

TODAY [MONDAY] THEY ANNOUNCE THEY WILL BE LOADED FOR USE TOMORROW [TUESDAY]…INTERESTINGLY, NOTHING STATING INSIDE AND OUTSIDE OF COUNTRY…LEFT TO OUR IMAGINATION…IF THE CARDS ARE LOADED TOMORROW [TUESDAY] IN SAUDIA ARABIA ETC.. IT WOULD MEAN TO ME THEY ARE INTERNATIONALLY RECOGNIZED… PLAIN AND SIMPLE.  AND IF THAT HAPPENED, AT 1166, THE COUNTRY WILL IMPLODE…IMHO…THERE IS NOT ENOUGH DINAR IN THEIR COUNTRY TO MAINTAIN STABILITY AS THEY CLAIM THEY WILL HAVE NO PROBLEM DOING. THEY WOULDNT BE ABLE TO REDUCE BUDGET DEFICIT WITH TARIFFS AND TAXES, AS THE AMOUNTS THEY WOULD RECEIVE WOULD BE NEGLIGIBLE…WOULDNT HAVE A SIGNIFICANT IMPACT ON THEIR DEFICIT.
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Millionday - CBI HAS BEEN ASKED TO MAKE THE CHANGES FOR THE STOCK MARKET…THERE ARE MANY CHANGES THAT HAVE TO OCCUR FOR THE REFORMS AND THEY ARE IN THE MIDDLE OF SHIFTING CBI TO THE PROGRAMS FOR THE PRIVATE SECTOR.  THIS IS THE BEGINNING OF THE MONETARY POLICY – WHOOPOW. THIS IS A HUGE STEP TO MOVE FORWARD FOR THE IRAQI REFORMS. THE MOVE NOW IS TO ACTIVATE ALL ECONOMIC LAWS.  [THEY ARE TOLD TO ACTIVATE, DO THEY HAVE A TIME FRAME TO DO IT IN?]   THEY ARE IN THE STAGE NOW TO ACTIVATE. [Did they activate the smart cards yet?]  NO ACTIVATION YET.  [...is the HCL finalized... ?]  THEY MET ON IT YESTERDAY AND HAVE REACHED AN AGREEMENT.  THEY ARE PREPARING EVERYTHING TO MOVE FORWARD WITH REFORMS AND ALSO WITH THE MARKET ECONOMY.
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Aggiedad77 - Article quote:  “Iraqi Oil Minister Adel Abdul-Mahdi, said that his ministry will ask the government to issue treasury bonds (Treasury) worth $ 12 billion broadcast reassuring foreign oil companies that will reach their dues by the end of this year to 27 billion dollars.”   How can the government issue $12 billion dollars in treasury bonds today payable at the end of the year for $27 billion dollars unless they have a currency at the time that will allow such a gain to be made…HUGE HUGE news…add this to the contracts they work under that were set in place in 2009 and 2010…remember those days old timers…that would complicate the apple carts for them…to say the least…but am still working those bond numbers…incredible.
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MarkZ - I know many are wondering what happened this time, why is it Monday and we do not have this finished yet…None of us, even the VERY connected will nail the timing. The event is designed that way for safety.  On the positive side we still have great progress…  Are we close? I think so, I am told so but at the same time I am still looking for an event or two before I let myself get all giddy.  In the sandbox they look to be poised more for a RI and a float than a true RV. My best advice is just to buckle up, grab your popcorn and watch closely as we progress.
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tlm724 - Article:  “Parliamentary Finance searching with the Governor of the Central Bank of the issue of the Iraqi dinar and the abolition of zeros“    we have several diff source articles for this…basically all the other articles are saying the same thing…lets have a talk about getting rid of the zero’s.  you all do realize how fast things are happening don’t you?  I am talking about the fact that we are smack dab in the middle of the currency reform.
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Poppy3 - …NO RV YET BUT CLOSER THAN EVER AND COMPLETELY A FOREGONE CONCLUSION ITS JUST AROUND THE CORNER.  I AM SO HAPPY TODAY AND IF YA’LL KNEW WHY YOU WOULD BE FULL OF JOY ALSO.

…CAN NOW SHED MORE LITE ON MY GOOD NEWS I AM EXCITED ABOUT.   I WAS TOLD IN THE FINANCE MEETING THIS MORNING THAT THE ARGUMENT WAS ABOUT A RATE THAT IS BEING ASK FOR AND DISCUSSED TO DEAL WITH THE VALUE OF DINAR AND THAT RATE IN DISPUTE IS IN THE $3.90 CENT RANGE. THE ARGUMENT IS THAT THE OIL MINISTERS ARE WANTING A HIGHER RATE AND THE CBI IS ARGUING TO BEGIN AT A MORE NOMINAL MEDIAN RATE BUT THE OIL MINISTER SAYS THEY CAN’T MEET PAYMENTS TO THE PRODUCERS WITHOUT THE HIGHER RATE. NOTHING HAS BEEN SETTLED AND IT IS GOING TO REQUIRE MORE DISCUSSION. THEY ARE LOOKING FOR MIDDLE GROUND AND THE WAY TO ACCOMPLISH WHAT BOTH NEED…MEETING NEEDS AND REMOVING THE THREE ZERO’S WITHOUT CAUSING UNCONTROLLED INFLATION. THIS IS EXCITING NEWS TO ME BECAUSE WHAT WE NEED THEM TO DO IS FRONT AND CENTER AND THEY ARE IN A HURRY.  
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My Ladies - THE WAY I SEE THINGS AS LONG AS NO LAWS REQUIRING FUNDING ARE PASSED AND NO SALARIES ARE PAID, AND NOTHING IS HAPPENING CAUSING IRAQ TO CROSS BORDERS WE ARE OK.  YES WE ARE STILL WAITING, BUT WE ARE STILL HOPEFUL THE WAIT IS SHORT.  NOW IF WE SEE MONEY MOVING, AND INTERNATIONAL OBLIGATIONS BEING FULFILLED, AND THE SMART CARDS BEING ACTIVATED WITH NO RATE CHANGE THEN WE WILL NEED TO BE REALISTIC WITH WHERE WE ARE.  SO HERE IS HOPING FOR IRAQ ADOPTS A CURRENCY VALUE OTHER THAN 1166 AND DOES IT BEFORE MAKING ANY MANY CHANGES IN MONEY AND POLICY. 

DINAR LAND THINKS THE OPPOSITE, THEY THINK LAWS NEEDS TO COME FIRST, AND SALARIES ARE PAID THEN WE ARE NEXT, BUT NO, NO NO NO NO NO, YOU CAN NOT DO THINGS IN REVERSE LIKE THAT, BASIC BANKING PRINCIPLES.  IF THEY GO INTERNATIONAL AT 1166 THEY ARE NOT GOING TO “RV” OR “RI” AFTER THAT.  THE SYSTEM DOES NOT WORK LIKE THAT.  IF THEY GO INTERNATIONAL AND PASS LAWS AND PAY SALARIES AT THE IMPOSED RATE THEN THEY HAVE DEFIED ECONOMICS AND WE ARE IN FOR ANOTHER 10 YEAR WAIT. WELL 5 AT LEAST BECAUSE THAT IS WHAT THEY SAID THEY NEED TO FINISH THEIR MONETARY REFORM.  WE ARE STILL IN THE GAME AS OF TODAY.
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Tune in for Round Table Chat w/BGG (filling in) @ 1:00PM EST – today (3/02) in the DU Chat Room!!

Read More: http://www.dinarupdates.com/
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BGG - the one thing our Baghdad contact has maintained is Baghdad needs money to fight ISIS. Period. He felt like one of the main ways to get it was via currency reform – ”removing the 3 zero’s”… it seems a little early to me based on the press releases over the last few days – but what do I know?? This is an emergency.
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Jester - THEY ARE WAITING ON SOME THINGS TO BE SIGNED WITH THE US… ALL INDICATIONS ARE THE BUDGET IS READY TO GO… THIS IS JUST SOMETHING THAT HAD TO HAPPEN WHEN THE BUDGET WAS READY TO GO… OTHERWISE IT WAS A MOOT POINT…LOOKS LIKE THINGS ARE GOING THE RIGHT DIRECTION…. I BELIEVE THIS IS JUST A SMALL HOLD UP… THAT THINGS ARE STILL GOING JUST FINE… THE BUDGET JUST NEEDS TO BE PRINTED INDICATING THINGS ARE DONE AND THEN POOF… IRAQ WILL BE ON IT’S WAY. 
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Millionday - Article quote:  “Office of the Prime Minister Saad al- Sabri, that the application of Article 140 of the Constitution after the procedure will eliminate Daash terrorist gangs in the disputed areas.”  THEY ARE NOT ACTIVATING ARTICLE 140 UNTIL DAASH IS ELIMINATED PER THIS REPORT.  IT IS NOT THAT THE BORDERS ARE NOT BEING DEFINED — IT IS THAT IT IS NOT AN EASY TASK WITH DAASH ON THEM OR IMPACTING THE PROCESS.   [What is article 140...?]  ARTICLE 140 IS PART OF THE CONSTITUTION THAT DEFINES THE AREAS THAT ARE PART OF KURDISTAN…  IMPORTANT FOR COSTS AND BUDGET ETC.

[They can't RV without the Article 140 implemented, right?]  UNDERSTAND THAT THE BUDGET DISTRIBUTION IS IMPACTED BUT CBI HAS REPORTED THAT INVESTMENT FUNDS COULD BE USED TO MOVE FORWARD WITH THE MONETARY POLICY.   SO AS FAR AS AN ACCURATE EXACT TO THAT ANSWER — IT CANT BE GIVEN UNLESS BY CBI WHO HAS THE INDEPENDENCE IN THE MONETARY POLICY.

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Backdoc - WE ALL EXPECTED TODAY [SUNDAY] TO SEE THEM START TARIFFS AND TAXES AS THE ARTICLES INDICATED!  EITHER THEY HAVE ACHIEVED THEIR GOAL ON REDUCING LIQUIDITY FROM THE PUBLIC FLOAT AND ARE SIMPLY WAITING TO LAUNCH EVERYTHING ALL AT ONCE OR POSSIBLY THEY ARE WAITING TO SEE SECURITY IMPROVE IN THE NEXT WEEK OR TWO BEFORE A RATE CAN BE RELEASED! WE KNOW THAT THE KURDS ARE NOW VERY HAPPY BUT THE SUNNIS HAVE ONE MORE REQUEST BEFORE THE NATIONAL RECONCILIATION IS COMPLETE, ARREST MALIKI AND BRING HIM TO JUSTICE!

…A FEW MORE LAWS WILL LIKELY BE READ SO THAT ALL IS IN PLACE FOR THE ONE BASKET! THE LAW OF PARTIES MAY BE ONE OF THOSE GETTING FINISHED!  WITH THE MARKET ECONOMY READY TO LAUNCH AT THE END OF THE MONTH, THEY ARE IN A HURRY TO PUT THINGS IN ORDER!  IT MAKES SENSE THAT A RATE WOULD PRECEDE THE LAUNCH OF THE MARKET ECONOMY SINCE IT WILL TAKE A FEW DAYS TO ADJUST TO THE NEW CURRENCY!
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Parliamentary Finance hosts the Governor of the Central Bank and looking him Cancel zeros from currency

[Baghdad-where] Parliamentary Finance Committee discussed on Monday with the central bank governor Ali Mohsen Keywords Cancel zeros from the currency.

Correspondent agency all of Iraq [where] that “the parliamentary Finance hosted a morning on the Keywords to discuss the issue of the Iraqi dinar and the abolition of zeros from the currency, as well as discuss the charges on the Director-General of the Iraqi Commercial Bank Hamdiya dry.”…

Read More: http://dinarupdates.com/blog/
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BondLady - The World Gold Council announced (WGC), said that “the Iraqi Central Bank had bought 48 tons of gold during 2014, bringing the country’s reserves of gold material by three times what it was during the year.”  Remember they already said they had enough reserves to cover one and a half right?  ”The Iraqi Central Bank to invest cash reserves of hard currency through the purchase of gold“   So now they have more.
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tlm724 - The Iraqi Central Bank to invest cash reserves of hard currency through the purchase of gold“    Kinda looks like the CBI is heading (maybe considering) buying even more gold especially after the decline in gold prices in world markets over the past months.  Gold is gonna cover everything the CBI wants to accomplish with currency reform including the deletion of the zeros.  Brings the dinar up front with dollar allowing them remove the dollar imo. Gold has the value needed to protect and guarantee the economy…it’s a safe haven for Iraq which contribute to maintaining the value of the dinar Iraqi. The decision to buy gold is to protect the dinar not the dollar!  The dinar is safe no matter what the currency baskets does because it is protected! 
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My Ladies - THE GLOBAL MASTERCARD WILL BE IN EFFECT IN PLACES OTHER THAN THE 4 ARAB STATES.  THEY WILL BE GLOBAL, AS SOON AS THE GOI DEPOSITS THE MONEY TO RAFIDAIN THE CARDS ARE INTERNATIONAL.  THEY HAVE BEEN EXPERIMENTING WITH TRIAL CARDS IN ABU DABI AND EVERYTHING IS WORKING FINE. ALL THEY NEED NOW IS TO FUND THE ACCOUNTS..THE CARDS WILL GO LIVE AS SOON AS THEY DO.
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Millionday - Article quote:  “Rafidain Bank, announced its intention to issue smart card, in the coming days for retirees in four Arab countries.“ THE SMART CARD IS TO BE ISSUED IN THE COMING DAYS AND IT IS USED FOR BENEFITS FOR IRAQIS AS PROMISED — SO IT WILL NEED TO BE ABLE TO BE USED THROUGH THESE COUNTRIES BUT – PREVIOUS REPORTS HAVE STATED THAT THE SMART CARD WHEN ACTIVATED WILL BE ABLE TO BE USED GLOBALLY.   THIS IS A HUGE STEP FROM THE BANK AND ALSO WILL BE ORDERED FOR ACTIVATION BY CBI PER DISTRIBUTION OF BUDGETED BENEFITS.  [Will the rate attach to the Cards?]   THEY WILL HAVE TO HAVE AN EXCHANGE RATE FOR THE CITIZENS TO USE THE CARDS OUTSIDE THE COUNTRY FOR THE LOCAL CURRENCY THEY STAND IN.
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Check out the Dinar Corp 120+Max – it’s EQUITY!!

Commercial Solicitation

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BGG - [...can you tell us...what they are doing with the 50s over there...replacing for better security ones. or removing the 50 note for good?]  …that I do not know for surehowever, the change under the cover of a possible removing of the 3 zero’s implication is VERY, VERY GOOD NEWS.
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Breitling - The intent of the CBI is EXACTLY the same…what do they want to do?  They want to get it to a US dollar and after that they want to change the economic policies a little bit and get it to $3.00…and that’s that.   This [50 dinar note retirement] revealed to us the time frame…they are not going to come out at a buck…this tells us they are going to come out as a float.  There is always a couple scenarios so we’ll see how it goes…the wealth of the 50 dinar notes is going into your dinar coming up pretty quick so Happy Birthday!  

We’re in a very very good spot.  the 50 dinar note being taken off the market means more notes being taken off the market period end of story.  The last report we got they were at 4 billion notes…at it’s hight they were at 9 billion notes.  3 things we know.  We know the number that they’re at…so they can raise the value whenever they want.  2.  They’re taken away even more notes by taking the 50 dinar note off.   3.  They stopped the auction floor which is what they used to help keep the value of the note down…NOT up…they kept it down that way.    What would be great to know…is remember the US dollar represented 30% of the markets inside Iraq.  Who knows where they are at today.  I would LOVE to see those numbers cause that would tell us a lot.
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Jester - A BUDGET HAS NOT BEEN PRINTED YET… THAT IS WHAT WE ARE WAITING FOR…THAT IS STILL SIMPLY AN INDICATOR OF THINGS TO COME.
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www.DinarUpdates.com - save as favorite!
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Aggiedad77 - Article 140 is said to be delayed until DAASH issues are over…Former President Talabani has visitors…CBI is still in the news, slightly…Sunday still appears to be the launch day for the removal of the 50 dinar notes.
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Tlar - …the “delete the zeros” program is a real program.  There was about a four month period in 2012 that Shabibi decided to change the program and we saw articles attesting to that decision.  The decision had been made by Shabibi to just release the currency at 1166 and “let the market decide its value“.  He had stated that he was going to do this whether or not the government was on board. The float theory was not a theory but a real change in policy in late 2012.  Shabibi had done this because every time he tried to implement the delete the zero program it was thwarted by Maliki.  As we know, Shabibi did not get a chance to just float the currency because he was charged with crimes and removed by Maliki before he could do it.

Maliki then promoted Turki to be the Governor of the CBI thinking he could control him.  Turki did not play ball with Maliki and went right back to supporting removing the zeros program within 30 days.  IMO we know this because the articles that had been talking about deleting the zeros earlier under Shabibi had all but disappeared, having been replaced by articles stating the CBI intended to release the dinar at 1166 and float it up from there.  But when Turki took over, within a month articles started to resurface again talking about deleting the zeros and have continued since then using the name deleting the zeros.

Some very intelligent people IMO got stuck in the float theory and haven’t ever come around that the program to delete the zeros is back on.  All the safe guards in protecting the currency also support that the deleting the zeros program is back on.  It is very telling that the 50 is being removed, and the 250, 500, and the 1000 all are in the process of being replaced by expensive high security notes.  All are less than a dollar and are not worth being counterfeited as witnessed by the fact they have never been counterfeited.  It is only in a situation that the rate changes significantly that these not would need to be protected.  And IMO we are seeing just that.  The precursor to the deletion of the zeros project being implemented. 
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Backdoc - [WE FELT VERY STRONGLY THAT THE TARIFF AND TAXES WERE TO START MARCH 1 ...DO WE STILL THINK THAT  WILL HAPPEN?] HERES MY TAKE…IF WE DONT SEE THE RATE AND THEY LAUNCH THE TARIFFS AND TAXES IT WILL ONLY ACCELERATE WHAT WE WANT TO HAPPEN UNDER THE NEW MECHANISM.  THE POINT HERE IS TO PULL OUT ANY REMAINING LIQUIDITY OR CASH OUT OF THE ECONOMY.  IF THE RATE IS NOT GIVEN ITS BECAUSE THEY WANT MORE OUT!!!   THIS WILL MAKE THE RELEASE OF THE LOWER DENOMS EVEN MORE SUCCESSFUL.
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Poppy3 - RICH FRIENDS, EARLY THIS MORNING [SATURDAY] PARLIAMENT MEETING REPORTS SEVERAL OF THE MAIN LAWS WE BEEN WAITING ON WILL BE FINISHED AND IMPLEMENTED TODAY [SATURDAY] AND TOMORROW [SUNDAY]. THE ABSOLUTE RUSH IS STILL ON TO COMPLETE THE FINANCIAL REFORM AND CURRENCY REFORM AND I AM MORE ENCOURAGED THAN EVER.  ALL INDICATIONS ARE THE NEW RATE WILL SHOW ANY DAY NOW AT ANYTIME.   ANY SPECIFIC DATE WILL NOT MATTER WHEN THEY FINISH THEIR CHECK LIST THEY HAVE TO COMPLETE…WE WILL SEE THE NEW RATE AND ALSO THERE HAS BEEN MANY REPORTS THAT THE NEW RATE WILL BE CLOSE TO WHAT I HAVE ALWAYS STATED I THOUGHT IT WOULD BE IN THE $3.00 PLUS RANGE
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Deletion of zeros .. vital project collides with the absence of economic stability

Deletion of zeros .. vital project collides with the absence of economic stabilityBaghdad / tributary cactus - Most specialists agree in the financial and banking affairs that deleting three zeros from the local currency is very important, however, that the conduct of this process at the present time is the decision is the right one may lead to negative results… (from 2013)

He continued Taan “was a panel discussion held by experts and specialists before the sacking of the governor of the Central Bank of Iraq where he led to the inability to delete the zeros at the present time.”

He suggested the miller to postpone the project to 2015 because the political, security and economic situation is unstable…

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

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Millionday - [do you think our back wall is now pushed back 60 days to get the 50's in?]   NO I JUST THINK THAT THEY ARE BEGINNING TO REDENOMINATE PER THE REPORT WE HAD TODAY…TO REMOVE THE THREE ZEROS IS WHAT WAS SAID AND THE LACK OF USE OF THESE THAT WERE FROM THE 2003 SERIES… JUST A FIRST STEP.
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Breitling The CBI announced they are going to retire the 50 dinar notes at the end of April…we basically have 2 months [to exchange them].  Is this something BAD that’s happening?  NO…nothing of the sort!  This does not effect everyone, but this effects me cause I have a ton of 50 dinar notes.  Here are the 3 things that this reveals:  1.  The reason they are taking the 50 dinar note out of circulation is because it’s value is so low that it’s not efficient.

2.  This tells us that instead of coming out at a certain rate, they are going to float it up little by little.  3.  They are going to get more notes out of the market by doing this.  The wealth that WAS in the 50 dinar notes goes into YOUR dinar…that’s not bad news that’s good news.  The wealth of Iraq is not going anywhere it’s just going to be crunched up and represented in the remaining notes.  This is the way it works with every currency…With every country if they reduce it [Their currency].
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My Ladies - MANY THINGS ARE TAKING PLACE IN IRAQ BEGINNING TOMORROW AND MOST OF THEM POINT TO THE COUNTRY BEING INTERNATIONALLY RECOGNIZED.  THE QI CARDS ARE GETTING READY TO REACH OUT AND TOUCH SOMEONE! THEY’RE SAYING THAT STARTING VERY SOON THE RETIREES LIVING OUTSIDE WILL RECEIVE THEIR PENSIONS ON THE CARD. UP TO NOW THEY HAVE BEEN SENDING THEM PHYSICAL MONEY. SO HERE IS ANOTHER SIGN THAT SPEAKS TO BEING INTERNATIONAL…THEY ARE SENDING THESE CARDS TO 4 COUNTRIES TO START.  WE HAVE DONE SEVERAL COUNTDOWNS OVER THE YEARS, LET’S HOPE THIS OUR LAST ONE.
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Experts: 50 dinars born “dead” .. and canceled due to fraud and the deletion of zeros

Experts: 50 dinars born "dead" .. and canceled due to fraud and the deletion of zeros

A source in the CBI revealed that the bank has decided to withdraw the currency of 50 dinars from circulation category because of fraud and conflict with other categories when deleting zeros from the currency, and while experts confirmed that the abolition of the small category guide to take prices upward trend, said the 50 dinars born “dead” because they are too small and cannot be accepted compared to other groups.

The Central Bank of Iraq, the day before yesterday, the currency was withdrawn from the category of 50 dinars from circulation due to “low value and stop the audience from the circulation,” according to a statement of the bank. A source in the CBI told the “term” that “the Bank does not want a conflict between the currency category of 50 dinars and 500 dinars in case of deletion of zeros from the last,” noting that “the central decided to cancel the deal with 50 dinars category formally instructed banks government and private bring this group to the bank in order to burn them.”…

Read More: http://dinarupdates.com/blog/
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tman23 - AS FOR ANYONE SAYING THAT HERE IN THE USA THEY WILL STILL HONOR THE 50 IQD NOTE EVEN THOUGH THE CBI SAYS THEY NO LONGER WILL…….WELL THAT JUST ISN’T SO…..AND IF THEY SAY IT IS THEN ASK THEM IF THEY WILL EXCHANGE SOME OLD IRAQI SADDAM NOTES!
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Millionday - THEY HAVE BEEN WORKING ALL DAY [FRIDAY]  TO FINISH THE ENTIRE OIL AGREEMENT WITH KURDS AND IRAQI FED.  THEY HAVE STATED THEY ARE VERY HAPPY WITH AGREEMENT ON BOTH SIDES. THEY HAVE FORMED A GROUP OF KURDS AND IRAQI MINISTERS THAT WILL MONITOR THE AGREEMENT. AS WE KNOW THEY HAVE ALSO AGREED ON FINANCIAL DISTRIBUTION SO NOW THEY ARE GOING OVER THE POINTS AND ENSURING THAT THE AGREEMENT IS ALL THAT BOTH SIDES WANT AND EXPECT.   THEY ARE SPENDING A LOT OF TIME FORMING GROUPS TO WATCH ALL ASPECTS OF REFORM AND ADVANCEMENT – IT HAS TO BE FOR SOMETHING OR THEY HAVE RUSHED AND WORKED LIKE THIS TO SIT IN A CHAIR AND THAT I DOUBT.  PARLIAMENT MEETS TOMORROW [SATURDAY] AND THE NEWS IS NOT REPORTING MUCH AT ALL BUT WE HAVE HUGE LAWS ON THE AGENDA…
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Jester - WE BELIEVE THIS THING IS CLOSE. WHEN SUNDAY ROLLS AROUND I AM HOPING TO BE ABLE TO UPDATE YOU ALL QUICKLY ON WHAT WE ARE HEARING…IT MIGHT TAKE SOME TIME FOR US TO SEE IT… BUT I AM BETTING WE WILL HAVE A GOOD IDEA…
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Kurdistan’s Texas oil tanker unloads in Israel

TEL AVIV, Israel,—An oil tanker from Iraqi Kurdistan that was blocked for months from unloading in Texas by a Baghdad legal challenge has sailed back to the Mediterranean and delivered its cargo to Israel, according to trading sources and ship-tracking data.

Ship-tracking data this week showed the tanker sailing fully-laden towards the Israeli port of Ashkelon before its satellite transponder was turned off on Feb 22…

Read More: http://dinarupdates.com/blog/
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Frank26 - On Sunday the 1st of March in this 2015 …History will change in Iraq.
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Kaperoni - Article quote:  “…the 50 dinars born “dead” because they are too small and can not be accepted compared to other groups.“   [I take this as just more confirmation of good things to come and it has started.]  I do agree..and the time limit of only 60 days seems to tell me that they wanted to get this over with quickly so they can pursue that new policy.  Quote: ”A source in the CBI told the “term” that “the Bank does not want a conflict between the currency category of 50 dinars and 500 dinars in case of deletion of zeros from the last.“ I think the very fact that they mention deletion of zeros as a possible reason in this article implies that process is coming sooner than later.  Especially when they are only providing 60 days to redeem.  [...if an initial revaluation was coming first, the 50 note would definitely have value. to see it being removed leads me to believe the plan is already in place to come out with a float which means at least for a stretch of time the 50 note will have no significance and should be removed.]   …it will come out at 1166 and rise.  Not including any correction that may occur.
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Millionday - Article quote: The Central Bank of Iraq, the day before yesterday, the currency was withdrawn from the category of 50 dinars from circulation due to “low value and stop the audience from the circulation,” according to a statement of the bank. A source in the CBI told the “term” that “the Bank does not want a conflict between the currency category of 50 dinars and 500 dinars in case of deletion of zeros from the last,” noting that “the central decided to cancel the deal with 50 dinars category formally instructed banks government and private bring this group to the bank in order to burn them. “…

SO THEY ARE WORKING ON THE ECONOMY AND ITS RETURN WITH THE GOAL OF NOT ALLOWING INFLATION ETC — THEY STATED THE REASON THE 50`S ARE BEING PULLED IS THE REMOVAL OF THE THREE ZERO’S
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Check out the Dinar Corp 120+Max – it’s EQUITY!!

Commercial Solicitation

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tlm724 - Article:  “Kurdistan announce the dinars from Baghdad and is preparing to pay salaries next week“  Quote:  “The amount of 250 billion dinars, arrived this afternoon from the central government to Arbil,” noting that “the amount will be transferred to the Central Bank “.   the budget money is flowing like water now…Wink. 
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Backdoc - NOW LETS TAKE A LOOK AT THE WORTHLESS 50 DINAR NOTE.   …THIS IS AN AWESOME CLUE RIGHT BEFORE YOUR EYES!   …WE WON’T BE LOOKING AT IT MUCH LONGER SINCE THIS WORTHLESS PAPER IN 60 DAYS WILL GET A FACELIFT! WHY BOTHER WITH AN ESSENTIALLY WORTHLESS 4 TO 5 CENT PIECE OF PAPER?  SINCE WE HAVE SEEN ARTICLES TELLING US IRAQ WANTS TO LAUNCH ITS’ MARKET ECONOMY BY THE END OF MARCH THEY WILL NEED A INTERNATIONAL CURRENCY RIGHT? RIGHT! THE CURRENT 5O DINAR WILL VERY SOON BE A TARGET FOR COUNTERFEITERS  SINCE IT WILL GO FROM CENTS TO DINARS RIGHT? RIGHT, THEREFORE A MORE SECURE NOTE WILL BE NEEDED!

…IF THE CURRENCY WAS ONLY GOING TO START AT .10 WHY BOTHER TO GET RID OF THE 50 DINAR NOTE? NOT THAT BIG OF A DEAL RIGHT? RIGHT!  BUT…IF THE DINAR RETURNS TO NORMAL AS THE ARTICLES STATE  “WHICH HAS BEEN OVER 3 FOR DECADES…”, THEN HOUSTON WE HAVE A PROBLEM!  IT’S POSSIBLE THEY MIGHT NOT EVEN HAVE THE 50 PRINTED YET SINCE IT’S NOT REALLY THAT IMPORTANT ONCE THE LOWER DENOMS GET LAUNCHED SOON!   WITH A BUDGET PASSED, PUBLISHED, AND WAITING TO BE OPENED IRAQ IS NOW AT THE MERCY OF THE INDEPENDENT CBI/OZ TO TELL THEM WHEN THEY CAN HAVE A LIVE CHANGED VALUE!

NOTHING AND I MEAN NOTHING WILL BE PAID OUT AT 1166…! THE BUDGET CAN NOT BE OPENED UNTIL OZ LETS IT GO OR 6 PLUS YEARS OF WORK REDUCING THE NOTE COUNT WILL BE OUT THE DOOR!  WE SAW ARTICLES ABOUT THE KURDS GETTING PAID, WELL, SORT OF.  THE CENTRAL BANK SENT THE MONEY TO ANOTHER CENTRAL BANK IN THE KURD REGION…NO ACTIVE BUDGET!  WHAT IS ACTIVE IS THE NEW MECHANISM CONTINUING TO STARVE CASH DOLLARS AND “ANY 50 DINAR NOTES”…IN THE ECONOMY RIGHT OUT OF EXISTENCE!  WHEN THE TIME IS RIGHT OZ WILL TELL THE CBI TO OPEN THEIR BUDGET BECAUSE HE WILL ACTIVATE THE FUNDING!  IT’S NOT IF IT WILL COME, BUT RATHER WHEN IT WILL COME…  WHEN? ON OR BEFORE THEY LAUNCH THEIR MARKET ECONOMY!  IRAQ WILL BE ON ITS WAY TO BECOME THE NUMBER 1 CURRENCY IN THE WORLD…
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Breitling - I’ve always stated that if they ever did close the auction floor that something is coming down the road…this is still true today.  This is good news for us but it doesn’t mean it’s going to happen next Friday.  Here’s the most important thing…the idea going around is that it’s getting harder and harder to get dinar out of Iraq.  The reason it’s getting harder and harder is cause they reduced the note count.  This is a big deal.  You will always be able to get it but it’s getting tougher and tougher.

It will revalue.  There are 2 stated goals by the CBI and this is backed up by the MOP and MOF…first they want to get to a buck and this is a process and then they want to get to 3 dollars and this is a process. so let the process happen…”They” talk about these “laws” [that are supposedly out there], saying only so much dinar can come out of Iraq…How is it then that the Bank of America has a seat on the auction floor and literally bought millions and millions of US dollars worth of dinar who sold it to Chase bank who then sold it to me?  So basically there are two banks who “illegally” sold dinar…none of that fits…it’s common sense.  It’s tougher and tougher to get dinar cause it’s not the wild wild west anymore and will get tougher.
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Shredd - FATCA…this Act focuses on US-based investors having foreign accounts and accurately paying taxes on them.  Iraq officially looking to join Foreign Account Tax Compliance Act.  what people need to understand is in many ways, investment couldn’t have happened prior to this because the compliance and protections were not in place.  It’s a big deal and fits perfectly with how Iraq has been paving the way for US investors to be able to invest in iraqi-originated debt. This means when the dinar is stronger and investors want to get into the iraqi market, they’ll be able to. This is part of the horse before the cart!
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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:

1. It is necessary to put central controls to amend the official exchange rate * to reflect the shadow price of the foreign currency, and that is considered one of the necessary requirements to implement the net discounted present value standard and the internal return rate on investment in the economic calculation stated in the instructions, paragraph nine…

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.

The Republic of Iraq – Ministry of Planning

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Millionday - HERE IS A GREAT ANNOUNCEMENT…   Quote:   ”Under the auspices of the Iraqi government of national reconciliation .. (Baghdad Declaration) .. Location: Baghdad (House of Representatives – House of the People) When: Month February 2015…“   ACCORDING TO THIS – THE NATIONAL RECONCILIATION DECLARATION WILL BE WITHIN THIS MONTH – WOW…THAT IS HUGE AND WITH ALL WE ARE SEEING AS WELL WITH THE MONTH OF MARCH BEGINNING — HOLD ON TO YOUR HAT.
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Chattels - [if kurds got paid does that mean HCL is in effect?]  it means that there has been part performance on the temporary HCL agreement from december which is incorporated into the 2015 budget.
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TD - Discussions with my Kurdish friend (as always treat as rumor and please due your own sound diligence) (PUMPER DISCLAIMER). The old 50 notes are being exchanged due to wear and tear and to have better security enhancements with the new notes. Citizens inside the country will have 60 days to exchange them. What about the 50 notes outside the country? Well …. Try selling them back or try exchanging those and you’ll find out the answer.

(BGG ~ I already told everyone where to take these – see DINAR CORP… this is a harmful internet rumor ALERT!!)

The deletion of the zeros program has now been given an extra year to start and complete. It was originally to be a 4 year program and due to the need to still achieve security, stability and rollout the banking and capital investment initiatives it will now be delayed an extra year. The program was to initiate later this year but now won’t be till 2016. The major goal of crushing ISIS, retaking cities like Mosul, Anbar province, etc. is THE top agenda item this summer and fall with then gluing the national banking system and attracting foreign capital investments in the 4th quarter of this year. ALL is based on progress and conditions on the ground.
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Millionday - CBI IS PULLING THE 50 DINAR FROM THE STREETS OF IRAQ RIGHT NOW AND WILL BEGIN ON MARCH 1ST AND END APRIL 30TH.   THESE NOTES WERE ISSUED AFTER THE 2003 ECONOMIC CHANGES THAT OCCURRED — HOWEVER AT THAT TIME IN THIS SERIES THEY WERE NOT VERY USABLE DUE TO THE REFLECTED PRICING THAT OCCURRED WITH THE IMPOSED RATE — SO THE NEW SERIES WILL BE PUT ON THE STREET IN THIS CATEGORY.  [is this in country and outside too? All?]   THIS IS RELEASED TO THE CITIZENS SO THAT THE 50 DENOMINATION CAN BE EXCHANGED TO BE THE NEW SERIES AT THIS TIME –  NO REGULATIONS HAVE BEEN RELEASED YET IN INK TO TELL CITIZENS OR INVESTORS OUTSIDE THE COUNTRY OF ANY NEW REGULATIONS FOR THE BILL OR WHAT TO DO WITH THEM ETC.  THERE ARE IRAQIS OUTSIDE THE COUNTRY AND PEOPLE THAT HAVE 50`S OUTSIDE OF IRAQ…WE WOULD EXPECT SOME REGULATION RELEASED FOR THAT — WE HAVE TO WAIT AND SEE. 

[THEY DIDNT ANNOUNCE THAT I RECALL, PRINTING NEW 50 DINAR NOTES.  DO YOU RECALL THAT THEY ARE? THAT IS ALREADY DONE…PER REPORTS WE HAD SOME TIME AGO.   [were you excited and happy to hear about the 50 notes being called in?]   YES I WAS — IT IS THE BEGINNING OF THE REDENOMINATION AND RELEASE OF THE NEW SERIES TO THE IRAQI CITIZENS AND THE VERY LOW ONE — SMILE. 
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Dinar Morning Drive Call!!

w/BGG –  Thurs 2/27 (10AM Call)

Click on the banner in the upper right corner

Smart phone user link – Click here

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Poppy3 - …THEY KNOW WHAT THEY MUST FINISH AND ARE WORKING FRANTICALLY TO GET THERE. WHEN ITS DONE IS WHEN WE WILL SEE IT NOT BEFORE.   NO DATE MATTERS, THEY HAVE A LIST THEY ALL AGREED ON 6 PLUS WEEKS AGO AND SET IN MOTION TO FINISH ALL ON THE LIST ASAP.  THE BOTTOM LINE IS THEY ARE DOING THEIR JOB FOR THEIR COUNTRY AND WHEN THEY FINISH WE WIN AND BENEFIT JUST LIKE THEY WILL.  WE SHOULD ALL BE DANCING AND PREPARING FOR CELEBRATION…
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Millionday - IRAQ HAS ANNOUNCED THAT THE FIRST DISTRIBUTION WILL BE TOMORROW TO KURDISTAN…THEY HAVE STATED THEY ARE FLYING THE CURRENCY TO KURDISTAN – NOW LETS ASK OURSELVES BECAUSE WE DONT HAVE INK — WHY WOULD IT NOT BE WIRED? WHY IS IT BEING FLOWN IN?…VERY INTERESTING.
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Frank26 - IF I was The CBI and was about to distribute LD’s let alone further sub divisional fils of COINS then this is exactly what I would do. Because they are needed when 000′s are lifted. 1166 works well with 000′s but NOT with LD’s and coins.  You see…There is no other lower denomination.   Hence You start with THIS 50 as EITHER replacing it OR…   MAKE CHANGE. LOL…Actually in more ways than one…LOL.   …They will destroy the lowest and replace it with even lower categories of currency such as …I’s … 5′s … 10′s and coins of 1/4 … 1/2 … 3/4.   Here is another of my cookies…IOO The 50 will be made into change for The Citizens inside while outside …You will get a new rate to return ET Home.
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Kurdistan announce the arrival of 250 billion dinars from Baghdad and is preparing to pay salaries next week

Long-Presse / Sulaymaniyah The Central Bank announced in the Kurdistan region of Iraq, Thursday, arrived about 250 billion dinars from the central government to Arbil, while the Ministry of Finance in the region confirmed that the employees’ salaries will be distributed early next week.

He said the central bank director in Kurdistan Adham Khurshid in a newspaper quoted statements and media Kurdish and vassal (range Press), “The amount of 250 billion dinars, arrived this afternoon from the central government to Arbil,” noting that “the amount will be transferred to the Central Bank “…

Read More: http://dinarupdates.com/blog/
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Shredd - …what is happening now to the 50 dinar note already happened to the large 000 notes last year and the CBI didn’t discontinue the older versions which are the ones we hold. So, unless their plan has drastically changed since then, I think we can safely hope the cbi won’t discontinue them before we decide to exchange them. That said, like it’s always been, we just need to wait this out.  Additionally, if the cbi’s plan had changed, why wouldn’t they do it now along with the 50 dinar note (announcing the “old” versions of the newly upgraded dinar shall be discontinued after 60 days)?  I look at this move as something the CBI was going to eventually do anyways but I was thinking they would have done it much further down the road once a strong dinar value demanded usage of the 50 dinar note. Seeing they are making this move now, before any exchange rate change has occurred, makes me think the 50 dinar note will have a purpose much sooner than we thought.
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Tlar - Article quotes:  “Thursday February 26, 2015 14:35  said the Iraqi Central Bank, on Thursday, for the withdrawal of currency 50 dinars category of trading, indicating that the replacement will continue for two months.“  “the banks and their branches will start replacing these banknotes presented to it and without fee or commission,”   The only bill they did not reprint of the bills in circulation, is the 50.  I am guessing that the CBI saw this as a vulnerability so they made another strategic decision,  the decision to release the new 50 and quickly swap them out… The 50 is part of the new smalls… Once the current 50 has a reality value, Iran would definitely counterfeit it and we can assume Iran has known what the plan is since its inception .  Iran already has its distribution system in place along with the plates and more than likely the first counterfeits would be delivered in a few days.  There aren’t many 50′s being used in Iraq because of their low value.  I surmize the 50 will be the very first release of the new small even before they raise the rate
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tlm724 - Article  “Finance Minister announces staff self-financing companies paying salaries“  Quote:  “Zebari called during a meeting with a number of media self-financing companies to review the banks to take over the salaries of its employees…“  money is starting to flow out of the budget…appears the budget is open for business!  
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CBI Arabic Announcement Translated – “(Press release ) due to stop the public from trading cash paper category ( 50 ) dinars” 02/25/2015

M / statement issued by the Central Bank of Iraq

Due to stop the public from trading cash paper category (50) Dinara According to the authority vested in Article (36) of the Iraqi Central Bank Law No. (56) for the year 2004 it was decided as follows:

1 – to withdraw cash from the paper category (50) dinars from circulation.

2 – on the banks and their branches replace banknotes presented to it without a fee or commission, and the banks deposit with the central bank and its branches for the purpose of being the equivalent value in our calculations.

3 – The duration of the replacement category above two months starting from 03/01/2015 up to 04/30/2015.

4 – After the replacement for the banknote become null and void and has no legal tender and will not be accepted in the Republic of Iraq.

CBI
Baghdad
02/25/2015

Original Document Link:

http://cbi.iq/documents/press%20for%2025-2-2015.pdf

What’s strange is the word after (50)…Dinara…ديناراً

Either a typo or a different form of the word dinar…دينار

http://www.dinarupdates.com/showthread.php?15156-quot-The-Dinar-Daily-quot-Thursday-26-February-2015&p=98847&viewfull=1#post98847

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Aggiedad77 - …they give no details to HOW they intend to replace the 50 dinar notes…or what they will replace them with…2 20 dinar notes and a 10 dinar note?  OR…maybe this is the METHOD they will use to introduce the LOWER DENOMS!  …if it is the LD’s that are coming…they would not telegraph this intent to us I don’t think…because it would have to mean a rate change too…IMO.  [IS IT POSSIBLE THAT THEY WOULD ONLY REPLACE WITH ELECTRONIC VALUE IN THE BANK ACCOUNT?]   yes that is also a possibility…and a means for them to push out more smart cards since so many Iraqis do not trust banks at this time and may not have bank accounts…perhaps movement towards more e-banking...we continue to look for more concrete information as to what is really going on.
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Enorrste - Article quote:  “Iraqi Central Bank announced on Thursday, for the withdrawal of 50 dinars currency from circulation category, pointing out that the replacement will continue for two months.“  Here is the way I see this:  (1) The 50 dinar note, worth about 4 cents, is not being used in Iraq at this time. (2)  The newer and more secure currency that has been printed did not include the 50 dinar note, as I understand it. (3)  Therefore, since it isn’t the more secure note and isn’t used anyway, the CBI is removing it from circulation. (4)  They are giving about 60 days to get them all in, after which time the currency will be worthless. (5)  Doing this at this time…is probably in preparation for a rise in the value of the dinar. (6)  I say this because if and when the value rises, the CBI would not want these “old” notes in circulation since they do not have the proper security features.  (7)  Finally, “replacement” does not necessarily mean a new 50 dinar note will be issued.  I suspect that over time a new note will be issued, once the value has risen.  That is implied in the article, in my opinion. Therefore, I see this as part of the “clean up” process to get ready for the float.

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Administrator Bob - Article quote:  “Iraqi Central Bank announced on Thursday, for the withdrawal of 50 dinars currency from circulation category, pointing out that the replacement will continue for two months.”   It appears that the Central Bank of Iraq has decided to demonetize the 50 dinar note. They are giving Iraqi citizens a period from March 1st -April 30 to deposit or receive equivalent currency as replacement. After that the 50 dinar will have no value in Iraq. Currently, the 50 dinar is worth less than 5 cents US. 

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Parliament officially received the law of accountability and justice 


BAGHDAD / Obelisk: received the Presidency of the Council of Representatives, on Thursday, officially the law of accountability and justice.

The deputy chairman of the House of Representatives Aram Sheikh Mohammed’s office said in a press statement received “obelisk” a copy of it, that “the Presidency of the Council of Representatives received, today, the Justice and Accountability Act officially.”…

http://www.dinarupdates.com/showthread.php?15156-quot-The-Dinar-Daily-quot-Thursday-26-February-2015&p=98857&viewfull=1#post98857
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Arthur - People are asking me the same questions over and over so I will address them now. Q.  Is the HCL done?  A. NO It is not done and anybody saying it is either misinformed or doesn’t understand the process. They have agreed to agree on many parts of it and still working out the bugs on other issues….there can be no fully implemented budget and subsequent revaluation without it.  Q. Is the budget in the Gazette?  A. NO.  The budget has been outlined in the law review of the MOJ site and has been signed, ratified, and agreed upon at every level but not placed in the official Gazette for immediate implementation and disbursement of all provincial funding.  It can’t be be for obvious reasons but if it were, and still at the 1166 level we would all know it and it would not be anything to be excited about.

Q. Are we really close or are we waiting on June or further out?  IMO based on everything I see and am hearing from our Arteam we are closer than close.  Although nothing is impossible in Iraq, an unforeseen circumstance would have to occur to prolong this process indefinitely.  The GOI/CBI has fast tracked their own procedures by the cessation of the auction regime.  This tells us that they are assured of the timely passing of the necessary laws and riders needed to ensure the soon upcoming strength and international structuring of  the IQD or they could have easily maintained their auction protocol for a longer period and not added to the already unwieldy liquidity dilemma on top of the inflationary event that the tariffs will engender, tariffs of which they no longer have the luxury of postponing as they are part of the 2015 budget.  All indications are is that the cessations of the auctions was the beginning of a new mechanism and process that will by necessity soon include the revaluation of the Iraqi Dinar to an international reality rate commensurate with the current and future wealth of Iraq.

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My Ladies - THE 24 HOURS HAVE PASSED AND THE BUDGET IS AN OFFICIAL LAW…THEY SAY THEY HAVE APPROVED THE ALL THE FINANCIAL ALLOCATIONS OF THE BUDGET AND THEY ARE GOING TO START IMPLEMENTING THEM.  WE SEE THEY HAVE THE ENTIRE PLAN WELL THOUGHT OUT, BUT NOW TO IMPLEMENT IT IS SOMETHING ELSE. WE WILL SEE MUCH ACTION IN THE COMING DAYS BUT HOPEFULLY THEY WILL ADJUST THEIR CURRENCY FIRST…THE CABINET HAS THE IMPORT LAWS TO VOTE ON SENT TO THEM ON TUESDAY, THE NATIONAL GUARD LAW, THE INVESTMENT LAW, THE AMNESTY LAW AND YET IN TODAYS SESSION THEY READ A BILL FOR PAVING THE STREETS? HUMMM SORRY FOLKS BUT THAT STILL DOESN’T PASS THE COMMON SENSE TEST.

I THINK STILL WE NEED TO SEE MONEY BEFORE THESE IMPORTANT LAWS ARE EVEN READ IN THE HOUSE.   JUST IN NOW…THE AGENDA FOR THE NEXT PARLIAMENT SESSION, SATURDAY THE 28TH AT 11AM.  GUESS WHAT FOLKS THOSE VERY, VERY, VERY, IMPORTANT LAWS THAT THE CABINET FINISHED AND JABOURI IS CALLING ON TO HURRY UP AND READ, WELL THEY ARE NOT IN THERE AGAIN.   I DON’T THINK WE EVER SEE THEM GET PASSED BECAUSE IF WE ARE CORRECT IN OUR LINE OF THINKING THEY NEED TO FUND FIRST.

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POPPY3 - JUST IN TODAY RICH FRIENDS – THIS IS JUST PART OF THE PLAN. GUYS – MANY ARE LOOKING AT THIS INVESTMENT AND WHAT IS HAPPENING ALL WRONG…THINKING SOMETHING OR SOMEONE IS HOLDING THIS BACK. THAT IS THE FARTHEST THING FROM THE TRUTH.

I HAVE A KEY PERSON THAT IS BEYOND REPROACH IN HIS STATUS AND INSIDE POSITION.

HE HAS EXPLAINED THE PROCESS THEY ARE IN IS A PLANNED AND AGREED UPON PROCESS. ABADI, JUBOURI, BARZANI AND ALL THE LEADERSHIP HAVE AGREED ON IT, APPROVED AND THEY ARE CARRYING OUT STEP BY STEP.

I BEEN INFORMED TODAY THE FINAL PHASE OF THE PROCESS HAS STARTED. IT WILL PLAY OUT AS IT IS SUPPOSED TO PLAY OUT. FORGET ALL THE MINOR DETAILS OF THIS LAW OR THAT REASON – IT DOESN’T MATTER TO THE END RESULTS. I AM TELLING YOU THE PROCESS IS MOVING AS FAST AS THEY CAN GET IT DONE.

THIS WEEK, NEXT WEEK OR 30 DAYS FROM NOW, IT IS WHAT IT IS. THEY KNOW THE DETAILS AND THEIR JOB AND THEY HAVE ALL ASSURED ONE ANOTHER THEY ARE GOING TO FINISH. NO DATE IS A DEADLINE BUT THE PROCESS AND WHEN IT IS FINISHED WE WILL ALL BE BLESSED.

IRAQ WILL BE SAFE FOR MCDONALD’S, CITI BANK, DOMINO’S OR FORD MOTOR CO. OR ANY INDUSTRY TO DO BUSINESS IN. THEIR MONEY WILL BE HIGHLY VALUED AND TRADEABLE AROUND THE GLOBE.

NOW  ALL WE HAve to do is THE HARDEST THING OF ALL AND THAT IS WAIT. LET ME ASSURE EACH OF YOU THE WAIT IS SHORT AND THE BURDEN HAS BEEN LIGHTENED – WE CAN SEE THE PROGRESS AND HAVE BEEN ASSURED OF THE BLESSING COMING.

THOSE WHO HAVE KNOWN ME FOR MY LIFETIME KNOW I WAS ALWAYS THE MOST COMPETITIVE, CAN’T WAIT,  ZERO PATIENCE GUY YOU COULD MEET. I CAN FAITHFULLY SAY TODAY THROUGH WHAT GODS WORDS HAS TAUGHT ME – I CAN SMILE FROM HERE TO THE FINISH LINE AND PLAN FOR MY FAMILY’S FUTURE . SMILE RICH FRIENDS SMILE.

POPPY3
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Dinar Morning Drive Call!!

w/BGG –  Thurs 2/26 (1PM Call)

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

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wmawhite - tic toc, tic toc…that is the clock that is ticking at the CBI, BIS and at all of the central banks around to world as the CBI prepares to make their next and final move…JIMO.

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OOTW - well the budget, in full, is posted at the ministry of justice site – today [Wednesday] - it’s an active law.
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Tlar -  The CBI made at the least a temporary strategic decision to start selling the dollar again to the banks to cover the remittance side of what was the auctions When they pushed the responsibility for remittances over to the independent banks and cut off the auctions at the same time, they essentially left the bank with few options and almost no way to obtain the hard currency needed to pay these imports with.  On the one hand they said you have to now pay for international orders and imports but we won’t sell you the USD to be able to pay for it.  This immediately pressurized the system because potentially it stood to bring purchases to a stand still if not fixed

The CBI just released the pressure on this side of the equation by announcing they would again sell dollars to these banks, but just to cover remittances.  What they have yet to resolve is the liquidity problem in these same 32 banks.   Until they can resolve the liquidity issue for these banks, Iraq remains in critical mass IMO.  IMO they just don’t have enough dinars to open the budget at 1166.  To me that says something has to change before March 1st when they implement the tariffs and taxes, not 45-60 days down the road.  To me they can’t stay where they are, they have to move forward with monetary policy change or this problem will exacerbate.

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Millionday - IT LOOKS LIKE THEY ARE ASKING FOR EXECUTIVE ORDERS WITH HCL – FROM BASRA…THEY ARE ASKING THE PRESIDENT TO MOVE FORWARD WITH THE HCL PER AGREEMENTS MADE.   [Does the HCL have to be done before they can do anything with the Dinar?]  THAT WOULD BE UP TO THE PLAN THEY HAVE FOR THE COUNTRY… THE TIMELINE THEY ARE WORKING WITH HAS NOT BEEN RELEASED TO US — WE DONT KNOW THE DATE…THEY…ARE WORKING VERY HARD TO MOVE FORWARD – ABADI PROMISED TODAY TO THE CITIZENS THAT THE ECONOMIC CRISIS WOULD END — THAT IS A HUGE STATEMENT.
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Kaperoni - I am not expecting much at the start..maybe a few dinar from 1166 to 1160 or so. Parliament has work to do to get the economic train moving down the tracks…IMO, this will start slow and progressively get better as investment and economic progress takes hold. This is not some overnight event. Remember the CBI said just a few months ago that they have slated 4 years for the process.
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Millionday - KURDISTAN IS DENYING IN THE PRESS THAT THEY HAVE AN ISSUE WITH THE OIL AGREEMENT AND THAT THE PREVIOUS GOV CAUSED THE ISSUE BUT NOW THEY ARE AGREEING.  THEY ARE ANNOUNCING THAT THEY HAVE COME TO AN AGREEMENT ON THE DISTRIBUTIONS ACCORDING TO REPORTS I HAVE.  [ IS THE VOTE ON SCHEDULE FOR THIRSDAY FOR HCL?]    THE MONEY BEING SENT IS ON THE SCHEDULE…MONEY TO BE SENT TO KURDISTAN WILL BE DONE ON THURSDAY. 
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LJ - the “stability” we are looking for is to have LAWS, not the “stop blowing things up” kind of stability.  …some of the laws cannot be done in that basket and will have to be passed separately...they amended changes to the oil and gas law to make the Kurds happy…HCL is NOT done...if we get to June and no changes have taken place regarding the Sunnis and Kurds, things will not look so pretty.
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Dinar Morning Drive Call!!

w/BGG –  Wed 2/25 (10AM Call)

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

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STRAIGHT TALKING MIKE - …the C.B.I. stopping the auctions…what this does is it forces everyone (the citizens) to go to the banks now and start using them…they want the banking system up and going and ready to go and that they are basically there…the auctions stopping is NOT a precursor to an rv…this was a great step for the C.B.I. in moving forward…we need the Investment Law in place to start to help out the bank side of things...stopping the auctions basically puts a stop to the money exchangers on the streets. They are strengthening the banking system now for people to start trusting the banks. This should cut out a lot of the corruption in the banking system…once they get through there crisis with the Kurds…they will start to focus on passing Laws.  [IMO] there will never be another (currency) investment like this ever again!
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Millionday - THEY HAVE A SIGNED PLAN BY THE WORLD BANK AND IT HAS NOT YET BEEN ACTIVATED — THE ADOPTION OF THE MONETARY POLICY AND THE REFORMS WILL ACTIVATE THAT PLAN FOR IRAQ. THEY NEED TO GO OVER EVERYTHING TO MAKE SURE THE ACTIVATION OF THE MONETARY POLICY AND REFORMS ARE ALL DONE CORRECTLY.   THEY ARE STATING HERE THAT THEY HAVE BEGUN THE FOREIGN REMITTANCE SYSTEM – THEY ARE MOVING FORWARD WITH THE PURPOSE OF THE BANK FOR THE STABILITY OF THE IRAQI DINAR EXCHANGE RATE AGAINST FOREIGN CURRENCY THROUGH EXCHANGE TO MEET THE NEEDS OF THE FUNCTIONS OF THE BANKING SYSTEM.  THEY ARE WORKING TOWARD THE REFORMS AND MONETARY POLICY BUT HAVE NO DATE AS TO WHEN.  THIS IS BEING STATED TO THE CITIZENS –VERY EXCITING. CBI IS SAYING THEY ARE MOVING FORWARD WITH MONETARY POLICY — WHEN IS THE ??? THAT WE DO NOT KNOW.
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Adam Montana - This week is an interesting one. The budget is 100% done, which is exactly what we want. The CBI is mucking around with their auctions… and there’s a ripple effect happening right now, which will have an impact on the ISX and a lot more… but the fact that the CBI is changing things up has me asking questions, and I’m getting some VERY interesting responses.  [ it appears that the budget has been passed and published in the Gazette. You have always talked about hca, budget, hcl and then rv.  Would the hcl language be covered in the passed budget or should we be looking for an explicit law that will be passed and then also published in the Gazette?]   It does appear that there was HCL-specific text in the budget, but the HCL has to be passed on it’s own. In other words, the budget supports the HCL, but the HCL will be a completely separate deal. With any luck, it will be dealt in short order! 

[Do you think the Dinar will come out at 1166 in a FLOAT?]  I don’t see them doing that…    [Do you think we will have RV by the first quarter (March 2015)?  Also saw articles in regards to the HCL and wondering is this the hold-up of the RV?]  I certainly hope we’ll see the RV here in the first quarter, and yes the HCL is the holdup.  [The biggest news this week seems to be CBI stopping their daily currency auctions.] I love it when the CBI starts playing with things. It means they are getting ready to do something!  I have a feeling that I’ll be getting some feedback here shortly, and at that time I’ll do another “driveby” or formal post…With that said, I’m going to make this update short. Until that next post… hang tight, my friends! I’m just as eager as you are for some great news, and it looks like we’re closing in!
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My Ladies - THE PROCESS CONTINUES…THERE IS NO WORDING IN THE CONSTITUTION THAT SPEAKS TO FUNDING THE BUDGET PER SAY. HOWEVER IT IS IN THE CONSTITUTION THAT AFTER 24 HOURS OF PUBLICATION IN THE GAZETTE ANY PRINTING BECOMES LAW.  SO FOLLOWING THAT IT IS REASONABLE TO ASSUME THE BUDGET IS LAW IN 24 HOURS FROM LAST NIGHT.   WITH THE BUDGET BEING LAW IT IS REASONABLE TO ASSUME THEY WILL NEED TO GRADUALLY BEGIN FULFILLING OBLIGATIONS IN THE BUDGET.  IT IS UNREASONABLE TO ASSUME THAT THE ENTIRE AMOUNT OF THE BUDGET WILL BE FUNDED IN 24 HOURS AS IT IS A 52 WEEK BUDGET, SO IT HAS MONEY IN AND MONEY OUT CONTINUOUSLY.

BUT IT IS REASONABLE TO ASSUME THAT SINCE THE ENTIRE REVENUE OF THE BUDGET IS BASED ON OIL THIS TIME THAT THERE WILL NEED TO BE A CONVERSION RATE FOR MONEY COMING IN BEFORE THEY CAN BEGIN SENDING MONEY OUT. NOW I DO NOT WANT ANY OF US TO GET STUCK IN A 24 HOUR WHEEL SPOKE BECAUSE THAT IS NOT WRITTEN ANY WHERE. BUT WE DO KNOW THAT THE MONEY IN NEEDS TO HAPPEN REASONABLY SOON. I ASSURE YOU 100% THAT NO ONE IS HIDING ANYTHING…IRAQ IS A COUNTRY…NOT A GAME OF HIDE AND SEEK. THEY ARE SHOWING US EVERYTHING WE NEED JUST TO KNOW WHERE TO LOOK AND PUSH ALL THE HORSE FEATHERS ASIDE TO SEE IT. THINGS ARE VERY GOOD …VERY VERY GOOD…WE HAVE WHAT WE NEED THE BUDGET AND THE AUCTIONS AND NOW WE JUST WATCH AND WAIT.  

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Millionday - [Do we know for sure the whole budget has been printed in the Gazette?]   THEY STATED IT WAS…HERE IT IS  “Number (4352) to ensure the doors of the budget disbursement for fiscal year / 2015 Iraqi Gazette newspaper published the general budget of the Federal Republic of Iraq“  BOTH CHAPTERS… THIS IS THE FORMAL SITE…THERE IT IS.
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Frank26 - Most alphabet agencies are still in Iraq.  The World Bank did a lot of work last week. The BIS did a lot of work this week. The CIA was in Iraq (as reported in the press) and other related agencies that protect and help out. Everyone knows what is about to happen with Iraq.  There is a UNITY in the middle east…working together. Amazing. THREE FACTORS will affect our investment.  #1 – The American Dollar going up in value.  #2 – The American Economy going up  #3 – Oil prices will go down.  All 3 occurred and helped to accomplish the mission…laws in the budget (over a thousand of them) needed to be in place to ACTIVATE the budget. The HCL is my favorite. The budget approved, passed, signed  and in the hands of the Gazette.  Forget about the dates things should appear in the Gazette.  The budget is published  and will be shown to the world at their [Iraq’s] pace. The laws are in the budget  but the budget is NOT activated. Published but not ACTIVATED. 

They are working on the math right now and they don’t want you to see anything right now. The budget is set at $60 a barrel. Anything past $60 a barrel is going to be fantastic!   iTeam was called back from SA  for a specific role…to protect Shabbi  (in doing so you protect the budget) …mathematics orchestrated by Shabbi.  We asked them  “Do you think the RI is in motion?”  Usually they don’t say but this time they said  “yeah…maybe.”  Please pray for them and their safety.  iTeam has told us that we have a “back-wall.”  That back-wall is a week from [Monday]. The budget is at 1166  and that’s ok because that is the only way they could open the budget …they have to activate the laws.  We are looking for a law…the one on March 1st…tariff and tax laws…perhaps a rider to be “activated” on March 1st.  iTeam says  Shabbi will not talk…he is there to complete the budget…but it’s all contingent on the taxes and tariff laws coming out  [approximately]  1st of March.  Shabbi will have the budget retro back to January 1st once ACTIVATED.  The date and the rate will come at the same time  in the still of the night  most likely on a Tuesday or a Thursday.   Iraqi TV..on the TV…ticker tape shows they are getting ready.
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Enorrste - Article:   “Experts: Central Bank faces the problem of the shortage of foreign currency and claiming to reassure customers“   Can you imagine the reaction of a local Iraqi businessman when he goes to the bank to buy some dollars and is told that they don’t have any?  What else could he do except use dinars, right?  Talk about turning the tables quickly!  Sure, some will find ways to get dollars from other sources, but not nearly enough.  Eventually, and probably sooner rather than later, people will realize that they have to use their own currency.  This will stabilize the market, at which point the CBI will be in position to allow the float.  As some have suggested, they may not even make a big thing about it.  The value of the dinar will just begin to rise, and the official rate will rise with it.  Of course at some point they will have to drop the fixed official rate.

The foreign remittances issue means that dollars can still be had by locals, IF they can find foreigners who will accept the dinars in trade.  This is the crux:  getting the dinar to be accepted as an international currency.  It could be a jerky road, but I think that the CBI is convinced that there is sufficient backing of their currency to see this through.  Hold on to your hats!  The next few turns could be scary.
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Tlar - Article quote:  “Prime Minister Dr. Haider Al-Abadi recently received in his office the director of the World Bank …On its part the delegation of the world bank expressed its intention to provide all kinds of support to Iraq and its readiness to establish programs and projects to activate public Banks, cooperate with the Iraqi Central Bank…“   This is the same thing the WB did in 2010 and again in 2012.  They said they would support the CBI and their deletion of the zero program with all tools necessary including loans.  Maliki stopped it then but there is nothing standing in their way now except fear itself.  This time they have committed and must follow through or not doing it could harm both their economy and their banking system.
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CoM approves amended draft of Supreme Federal Court

CoM approves amended draft of Supreme Federal Court Baghdad (AIN) –The Council of Ministers approved the final amended draft of the Supreme Federal Court and decided to hand it over to parliament for ratification. /End/ …

http://www.dinarupdates.com/showthread.php?15145-quot-The-Dinar-Daily-quot-Tuesday-24-February-2014&p=98626&viewfull=1#post98626

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sczin11 - THE TARIFFS MAKE NO SENSE AT THEIR CURRENT LEVEL OF DINAR VALUE…WOULDN’T PAY FOR THE PAPER THE BUDGET IS PRINTED ON.  THEY MUST HAVE A TRUE VALUE, AND THEY HAVE COUNTED ON THE REVENUES FROM THESE TAXES TO REDUCE THEIR BUDGET DEFICIT.  THEY HAVE USED FORMULAS TO ESTIMATE THE REVENUE BASED ON THE NUMBER OF DAYS LEFT IN THE YEAR…BASED ON WHATEVER DATE THEY CHOSE TO IMPLEMENT, ACTIVATE, FUND THE BUDGET…THERE IS NO GOING BACKWARDS, AND THEY CANNOT ADD DAYS TO THE YEAR. THE BUDGET ONLY GOOD FOR THE YEAR…POSTPONING WILL BANKRUPT THE COUNTRY…THEY WILL IMPLODE.  …I FEEL THEIR PLAN IS IN PLAY. THEY KNOW THE CBI MUST PROVIDE THE KEYS TO THE CAR…THEY HAVE NOT COME THIS FAR TO DERAIL!
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Randy Koonce - Again No one has cashed in. There are no #800 numbers no groups that you have to get in…Let me say where we are at this time… The pressure that was suppose to come in the 1st of February is just now getting there.  1st pressure point is the budget passed and being posted in the gazette…(this also enacted the tariff laws article 33 which was in the budget. They need an weighted currency that is international to use the tariffs… every time they were going to start the tariffs they just moved them… well the budget being passed prevents iraq from moving the date… it still has not set the date.  2nd pressure which is very big is the auctions have been stopped. (so the only way for Iraq to generate money is Auctions or Bonds and they cannot do the bonds until they have a currency above 0). From Last sunday Iraq can go about 10 days without having the auctions or Bonds…can they restart the auction,  yes…but why stop them just to restart them…so this is another pressure point…

3rd is the banks are not getting the large bills for the last 2 weeks.. So this tells us all is ready to change the rate…and the question is will they do it…4th the salaries for Iraq to be paid.. the finance minister wants to pay salaries they cannot do that without a rate change.  So the next few days are very big and tremendous pressure…So if Obama agrees that Iraq needs this done, we are out.  Can something go wrong, yes but given everything that is going on we know this should be over very soon…the Auctions give us the timeline.  if they get 10 days, each day after that would be tremendous pressure until they do it…And if they start the auctions up again.. we will have to wait longer.   Pray very hard that they do not start the auctions.  We are close.. Every large bank will exchange…Breathe..
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Backdoc - IMO GREAT INFO THE PAST FEW DAYS AS WE SEE THE MANY THINGS COME TOGETHER LIKE A HAND IN A GLOVE!  I LIKE THE COMMITMENT OF CROSSING THE LINE IN THE PROVERBIAL SAND ON STOPPING OF THE AUCTIONS!  “A NEW MECHANISM” IS NOW THE NEW ORDER! NOT ONLY DID THEY STOP BUT FOR SOMETIME BEFORE THEY STOPPED WE SAW LOWER NUMBERS!  VERY CLEVER AS THE CBI BEGAN EARLY TO BLEED THE DOLLARS OUT OF THE PUBLIC FLOAT AS WE SAW COMPLAINTS OF LACK OF CASH DINARS AND DOLLARS

WITH A BUDGET WAITING TO BE FULLY IMPLEMENTED WE ARE IN A GREAT SPOT!   EVERY DAY THERE IS NO CASH THE ECONOMY GETS TIGHTER AND TIGHTER! THE HUNGER FOR CASH WILL GROW UNTIL BING BAMM BOOM IS RELEASED IN ONE BASKET! WITH A FRENCH AIRCRAFT CARRIER HANGING OUT FOR SUPPORT, THE UST BOYS PUTTING THE HOUSE IN ORDER AND A HEIGHTENED LEVEL OF ATTACKS ON DASH WE ARE SPRINTING TO THE FINISH LINE!    AS I RECALL WE HAD ARTICLES CONFIRMING THE TARIFF AND TAXES LAUNCH ON MARCH 1ST?  AS I SEE IT WE NEED TO SEE A RATE ON OR BEFORE THAT DATE OR IRAQ WILL SIMPLY SIT AND WAIT DEAD IN THE WATER TILL THERE IS ONE!
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Experts: Central Bank faces the problem of the shortage of foreign currency and claiming to reassure customers

Experts: Central Bank faces the problem of the shortage of foreign currency and claiming to reassure customersBAGHDAD / Ghazanfar Laibi – Amer supporter Experts in economic affairs said that Iraqi banks began to suffer a shortage of liquidity in foreign currency (dollar), while the expected rise in the dollar’s exchange rate against the devaluation of the dinar as a result of stopping the auction currency, grumbling banking customers of non-receipt of money deposited by the dollar, stressing that handed over the money Dinars expose them to significant losses.

The expert in economic affairs Ahmed Fahmy in an interview for the “long” “The decision to stop the currency auction can be exploited in a positive way by the Central Bank and the Iraqi government,” noting that “the implementation of the resolution correctly is not easy, because we must limit the dollar and not to take it out of the market and thus strengthen the Iraqi dinar. “…

http://www.dinarupdates.com/showthread.php?15145-quot-The-Dinar-Daily-quot-Tuesday-24-February-2014&p=98641&viewfull=1#post98641
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Frank26 - I LOVE WHEN THEY HINT! Of course they do.  It’s called  the 4th part of the HCL and is buried in the 2015 budget. LAWS and NEW MATH are turning the budget from 11 years as a caterpillar to a Butterfly.
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Millionday - IRAQ IS OFFICIALLY TRYING TO JOIN THE ORGANIZATION THAT PROTECTS COUNTRIES FROM TAX EVADING THAT HAS JUST RECENTLY BEEN OUT IN PLACE – MEANING IT WILL NOT BE A TAX HAVEN FOR US CITIZENS OR ANY OTHER COUNTRIES.  THIS MEANS THAT THEY ARE PUTTING INTO PLACE THE LAWS THAT KEEP AMERICANS ETC FROM HAVING ACCOUNTS OF CASH THAT THEY DONT PAY TAXES ON WITHIN THE US ETC.  …I SAY THIS IS HUGE – WHY WOULD THEY NEED THIS TO BE APPLIED AND BE A PART OF IT UNLESS THEY WERE GOING TO BE INTERNATIONALLY RECOGNIZED? WHOOOPOW.
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Tlar - Article quote:  “Mostafa Hashemi raised the issue of a study on Iraq’s accession to Vta agreement…discussing the Ministry of Finance this issue with the government banks and the taxes and insurance companies.”  known “Alvta” which is an acronym for Foreign Account Tax Compliance Act as measures limiting evade US citizens from paying taxes to the government…“ I wonder if the fact that Iraq has not signed off yet to FACTA that this might be a reason to hold them up until they do?   Is the US muscling them into signing by not letting them finish their conversion until they do?  To our treasury department, this is a very important issue because of all the tax it stands to collect from this unique, one time event.  There is only one way that the Treasury can be assured of getting a handle on this and that is to get a complete accounting of any US citizen attempting to cash in Iraq by opening an account.   Just a coincident that these two events, Iraq looking as if their stalled in their transition and the FACTA issue being brought up at this time.   Might these things be connected?
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Check out the Dinar Corp 120+Max – it’s EQUITY!!

Commercial Solicitation

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Millionday - [Did we get confirmation that the rest of the budget got into the Gazette?]   YES THEY ANNOUNCED THAT THE ENTIRE BUDGET HAS BEEN PRINTED — ACCORDING TO A COUPLE REPORTS…SO ACCORDING TO THEM IT HAS AND IS TO BE ACTIVATED NOW AND DISTRIBUTIONS WILL BEGIN THE BEGINNING OF THIS WEEK.  [ if the whole budget has been placed in the Gazette, doesn't that mean that the CBI has to fund it in the next 24 hours?]   NO IT MEANS THAT THEY WILL BEGIN AND THEY HAVE STATED THAT THEY ARE AT THE BEGINNING OF THIS WEEK.
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BGG - to address…ISIS being some “hold-up” – my info and sense might lead me to the exact opposite conclusion - ISIS may well be a “catalyst factor” to a more immediate RV…  further – I am suspicious the budget has been “slow walked” because they just don’t have the $$…some time ago I mentioned they had applied for loans everywhere – knowing this was coming. It may be they haven’t gotten the support they need to “cover” (which I’m thinking is the case) and had to “slow the process”… (budget process – that is…)
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tman23 - Article qoute: {Baghdad: Euphrates News} central bank, announced Tuesday, to stop work and currency auction system...AND….. begins remittance system……THIS IS THE WHISPER OF INTERNATIONAL !!!!!!!
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tbob: The CoM has approved the final draft of the Federal Court law and submitted it to the parliament for vote!!

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

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Millionday - ABADI IS TAKING CARE OF THE HCL — FINISHING THE AMENDMENTS ACCORDING TO THE MEDIA.   IRAQ AND KURDISTAN HAS ACCEPTED WHAT HE HAS AMENDED.  THE AGREEMENT THEY MADE IS APPLIED IN THE NEW AMENDMENTS.  IT CONTAINS THE DISTRIBUTION OF WEALTH AS AGREED — GREAT NEWS.   THE LAW WAS SENT TO PARLIAMENT AS IS EXPECTED TO BE VOTED THROUGH.  [do you think oil & gas law will be in parliament tomorrow (Tuesday)?]  THEY STATED THAT WHEN IT WAS READY THAT THEY WOULD BE HAVING AN EMERGENCY MEETING SO EVEN THOUGH IT IS NOT ON THE AGENDA…– I WOULD NOT BE SURPRISED AT ALL.
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Tlar - …if they want the Iraqi’s to trust banks again, they better not drag this out.  This cannot continue for days …I don’t know what the holdup is but they better do it in the next couple of days or…reverse everything and re-start the auctions immediately…they can’t stay where they are.  They need to pull the trigger now before people loose total trust in the banks again and all the goodwill they have been attempting to install in the population is destroyed.  …my thoughts on the staging rate has never changed.  I think it will be a managed float from a staged rate.  That is what the 2008 Stategic Study suggested to the CBI as part of their summary.  I believe the Study is what they are following but that the rate suggested in it has been modified to fit the new facts on the economy and changes since 2008.
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Delta - CBI will fund Budget by…de-dollarizing with lower denoms…removing remaining USD for lower IQD’s…and to do so the rate must change…  Date…in the still of the night; on a Tuesday or a Thursday
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Enorrste - Article quote:  ”the transition to a new phase is to conduct foreign remittances through the banking system within the mechanism developed for it.”    Iraq is under the protections of Article XIV which prevents other countries from suing it for war reparations or anything else, for that matter.  Under this Article there are also restrictions placed on Iraq with the IMF.  However, all of the “big boys” are under Article VIII, which allows full international commerce, banking, etc., including the right to sue if necessary.  It is necessary for Iraq to move to Article VIII if it wants to open commerce completely At this point, some companies and/or countries are leary of investing in Iraq because if something goes wrong they have no recourse.  Opening up to foreign remittances goes a long way toward getting Iraq ready for Article VIII.  …foreign remittances acceptance means that people can move funds freely back and forth.  This means that if a foreign company wants to invest in Iraq it will have the ability to send home the profits.  This is huge. 

Furthermore…this change by the CBI allows for freely convertible currency between countries.  This gets us very close to an internationally tradable currency.  I am not sure that the dinar is quite to that point yet, but certainly it is heading in that direction.  If we see it begin to be traded electronically instead of only physically as we have gotten our dinars, then the currency will be truly freely convertible.  …if they do not change to a flexible exchange rate regime once this gets rolling then Iraq will begin to suffer inflationary pressures.  Therefore we may reasonably expect them to change the exchange rate regime in the near future.
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NOVA - There is only two choices for the CBI, because as of yesterday the value of the IQD IS ZERO!!! No Auction and No Exchange Rate. That Tells Me The Value Of The IQD IS ZERO.  SO THEY EITHER START THE AUCTION AGAIN AND SET A BUY /SELL RATE OR GIVE US THE EXCHANGE RATE.  WHICH ONE DO YOU THINK THEY’RE  ABOUT TO DO?  We Really Are At The End!!
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Enorrste - …once the CBI changes its exchange rate regime from a fixed rate to a floating rate then, ipso facto, the official rate becomes the street rate.
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House of Representatives vote to amend the Code of Criminal Procedure and finish reading the five laws header

Majlis deputies voted fourteen minutes, which was held under the chairmanship of Dr. Salim al-President of the Council and in the presence of 198 deputies on Tuesday, 02/24/2015, the draft law amending the Code of Criminal Procedure that ended with the first and second readings of the five bills. At the outset of the meeting followed To the Committee on Health and Environment issued a statement describing the Dr. Akram al-Hilali one media medicine in Iraq and the world, who passed away last Friday after he spent most of his life in research and medical work, referring to the march of the late abundant scientific achievements outstanding addition to the strong opposition of the former regime, which referred it to the retirement forcibly…

http://www.dinarupdates.com/showthread.php?15145-quot-The-Dinar-Daily-quot-Tuesday-24-February-2014&p=98633&viewfull=1#post98633
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Millionday - THE BUDGET HAS BOTH CHAPTERS POSTED IN IT ACCORDING TO NEWS.  [If the budget is complete ...now it'll go international...within 24/48 hrs?]  THEY HAVE NOT SAID HOW LONG BUT THEY HAVE MANY AGREEMENTS THAT ARE PART OF THE ECONOMY.   THE HCL IS ACCEPTED AND COMPLETE AND ALSO BEST OF ALL CONSTITUTIONAL…THE KURDS WILL BE GETTING THEIR FUNDS FOR OIL AND THE CITIZENS THAT WILL RECEIVE AS WELL…SO NOW IT GOES TO PARLIAMENT — EXCELLENT NEWS…PARLIAMENT RETURNS TOMORROW.   [do you think it is tomorrow parliament HCL?]   I THINK IT IS IN A HUGE RUSH AND MAY BE HANDLED TOMORROW – WE HAVE SEEN REPORTS THAT SAYS WHEN IT IS READY THEY WILL DO AN EMERGENCY VOTE ON IT.
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tman23 - The strange thing is that the 2015 Budget could have been published in the Gazette all at one time…And a commencement order by Abadi to enact only certain parts and given a date of future for others…This is the NORMAL…BUT…they didn’t do it this way which makes it sooooo strange…2 Possibilities exist…One is could there be more issues between Erbil and Baghdad that may exclude some portions of the Budget …well once again Abadi could just work with commencement orders…The 2nd speculation could be the numbers actually change…The CoM meets tomorrow and then 3/2 being the next…We need to see what comes out tomorrow from the CoM…and will there be any implementation orders issued.
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My Ladies - EVERYONE IS CALLING AND TEXTING AND FIXATING ON THE BUDGET TODAY…AND TAXES…WELL FOLKS WHO THE HECK CARES ABOUT THE BUDGET? WE SHOULD NOT BE HERE TO SEE THE EXPENDITURE SIDE OF IT ANYWAY.  THIS IS MUCH BIGGER, MUCH BIGGER…LOOK AT TIMING…UST IS IN IRAQ! THIS POINTS TO INTERNATIONAL FOR SURE, IF NOT RATE CHANGE…UST DOES NOT CARE ABOUT SOMETHING THAT IS NOT TRADEABLE…FACTA IS FALLING INTO LINE IN IRAQ.

THE CBI HAS BEEN CLOSED…NO AUCTIONS, NO MONEY IN AND NO MONEY OUT…THAT SPELLS CLOSED TO ME.  THIS CLOCK IS FOR SURE TICKING DOWN…THEY ARE ALMOST READY TO IMPLODE NOW…I’M NOT SURE HOW MUCH LONGER IT WILL BE.  Article quote:  “The decision to stop the currency auction can be exploited in a positive way by the Central Bank and the Iraqi government,” noting that “the implementation of the resolution correctly is not easy, because we must limit the dollar and not to take it out of the market and thus strengthen the Iraqi dinar.” THEY ARE SAYING IN SHORT HAND WE ARE DONE NOW.
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Council Baghdad: we will resort to the system of payment on credit after reducing the fiscal budget

Tomorrow Press / Baghdad: Baghdad Provincial Council, announced Monday that he will resort to the payment projects on credit after reducing the budget during the current financial year due to austerity measures.

The deputy chairman of the Council Faleh Mahmoud al-Qaisi for “tomorrow Press” that “many of the projects sponsored by the province of Baghdad stalled since 2014, especially service projects,” adding that “this is reflected negatively on the reality of the capital and the citizen basically.”…

http://www.dinarupdates.com/showthread.php?15138-quot-The-Dinar-Daily-quot-Monday-23-February-2015&p=98411&viewfull=1#post98411
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sczin11 - I MAINTAIN IF TARIFFS ARE TO BE IMPLEMENTED NEXT MONDAY, WE SHOULD KNOW SOMETHING BY THEN…THEY CAN NOT CONTINUE TO DELAY, OR THE BUDGET DEFICIT WILL INCREASE.  THEY NEED THE REVENUE FROM TARIFFS AS PART OF THEIR ATTEMPT TO BALANCE BUDGET…PART OF THEIR BUDGET DEFICIT REDUCTION PLAN…NEVER HAS IT, THE TARIFFS, BEEN MORE CRITICAL TO THE NEW IRAQ…AND IF THEY DELAY IMPLEMENTATION, THEY CANT MAKE UP FOR LOST DAYS OF REVENUE.   I BELIEVE THE MR [MONETARY REFORM]  PLAN IS IN MOTION, AND WE NEAR ITS END.
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Enorrste - The following is a quote on floating exchange rate systems:  “The debate of making a choice between fixed and floating exchange rate regimes is set forth by the Mundell–Fleming model, which argues that an economy (or the government) cannot simultaneously maintain a fixed exchange rate, free capital movement, and an independent monetary policy. It must choose any two for control and leave the other to market forces.” ”The primary argument for a floating exchange rate is that it allows monetary policies to be useful for other purposes. Under fixed rates, monetary policy is committed to the single goal of maintaining exchange rate at its announced level. Yet the exchange rate is only one of the many macroeconomic variables that monetary policy can influence. A system of floating exchange rates leaves monetary policy makers free to pursue other goals such as stabilizing employment or prices.”

As I see it, the CBI is giving up the fixed exchange rate so that it can seek free capital movement and an independent monetary policy (2 of the three mentioned above).  This seems pretty evident to me based on the Mundell-Fleming Model mentioned above.  They must give up one.  They certainly won’t give up their independence on monetary policy, and they are seeking free movement of capital.  Ergo, the fixed rate regime must go.   I am on record that it will begin within the next 15 to 45 days.  Others…think it may take until August.  I am arguing here for a sooner rather than later date for the reasons I have indicated. 
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Chattels - Indicative rates – 23.02.2015 with no relevant change for us and no auction results since 19-02 -2015.
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Ali Ghaidan ready to testify against “al-Maliki” and to present evidence on his conviction!

Orbit - A source close to the former commander of ground forces, Gen. Ali Ghaidan that the latter confirmed that former Prime Minister Nuri al-Maliki, the first charge and last for the fall of Mosul, however Daash…

http://www.dinarupdates.com/showthread.php?15138-quot-The-Dinar-Daily-quot-Monday-23-February-2015&p=98409&viewfull=1#post98409
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Tlar - They still officially have not put out the whole budget.  To my knowledge they have not put out the spending side of the budget as of late yesterday.   I think this is a very calculated move…  March 1st is the taxes and tariffs. …the CBI does not have the tools for the budget at 1166 and…an RV is the only option left for them.  They are boxed in so to speak.  Logically speaking from what we think we know at this time, they don’t have enough dinars on hand to open their budget without using the LD’s.  If they don’t RV they will have three choices only IMO with which to fund this budget.  Re-release the counterfeitable notes…  Second, quickly order and print more of the uncounterfeitable notes… Third…They fund their budget with USD which would mean restart the auctions continuing as they have done in the past.  I will not begin to worry or get nervous unless they publish the spending side of the budget and it is at 1166, and then they disburse the funds at 1166.  Until then I am comfortable with what’s going on and the feeling THIS IS IT AND MARCH 1ST IS NOW THE LAST BACKSTOP. 
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Millionday - [Is there any ink on a constitutional timeframe requirement to open (fund) the budget once it is published in Gazette?]   I KNOW THAT 24 HOURS PAST SIGNING WHICH THEY DID NOT FOLLOW SO I BELIEVE CORRECT IS WHAT THEY ARE SHOOTING FOR – THEY MADE IT VERY CLEAR THAT THEY ARE WORKING WITH A TIMELINE IN THE MEETING OF THE THREE PRESIDENTS SO THIS WILL HAVE TO BE APPLIED ACCURATELY MORE THAN BY WHAT IS WRITTEN IMO. THEY NEED TO HAVE EVERYTHING PREPARED FOR SUCCESS. THIS PLAN FOR IRAQ IS HUGE — IF THEY ARE NOT PREPARED IN ONE AREA OR THE OTHER — SUCCESS TRUMPS ALL.  THE PRINTING OF IT HAS BEEN ANNOUNCED TO ALL CITIZENS AND THE PRESSURE FROM THOSE SAME CITIZENS WILL BE GREAT – THEY NEED JOBS AND ALSO TO SEE IRAQ MOVING FORWARD — THIS GOV SEEMS TO SEE AND KNOW THAT AND ALSO SEEMS TO BE WANTING THE BEST FOR IRAQ…ABADI IS A GREAT PM IMO.
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Frank26 - [In order to enact or implement the Tariff Law by march 1, they must have a new rate? Correct?]   Yes but REMEMBER…As they are doing with Budget…So they can do with March 1st. They are NOT breaking any rules.  Just Your heart for taking it slowly.   IMO…This is wise.
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Video .. Maliki wanted to bribe the Chairman of the Iraqi-European relations in the European Parliamentary


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Millionday - CBI HAS STATED THAT THEY ARE GOING TO STOP THE AUCTIONS FOR FOREIGN REMITTANCE AND THAT WOULD REQUIRE INTERNATIONAL ACCEPTANCE AND ALSO IS PART OF THE MONETARY POLICY PER THE REPORT — THE BUDGET HAS BEEN PRINTED BUT THE REVENUES AND THEY HAVE DIVIDED THE BUDGET INTO TWO CHAPTERS – WE DONT KNOW IF THIS IS BECAUSE OF THE DISTRIBUTION OR FOR ANOTHER REASON UNLESS WE GUESS AND WE ARE NOT GOING TO DO THAT …THEY ARE NOT AND I REPEAT — ARE NOT GOING TO RELEASE EVERYTHING BEFORE IT IS DONE.   …WHAT WE KNOW AND CAN SEE…THE BUDGET IS DIVIDED INTO TWO CHAPTERS — AND DISTRIBUTION IS EXPECTED THE BEGINNING OF THIS WEEK — WE HAVE TOMORROW A MEETING WITH PARLIAMENT AND ABADI…WE HAVE AMENDMENTS BEING DONE TO THE INVESTMENT LAWS PER REQUESTS BEING GIVEN TO THE GOV.   I HAVE TO SAY — THIS ALL LOOKS VERY POSITIVE…THEY ARE SHOWING HUGE PROGRESS THAT WE HAVE NOT SEEN BEFORE.
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Enorrste - The implementation of tariffs in Iraq almost certainly will require a change in the exchange rate regime at the same time.  If the tariffs are implemented without a change in the currency regime, then prices in Iraq will go up overnight, literally.  I suspect that the tariffs could be imposed gradually, but I see nothing to indicate that this is what is planned.  On the other hand, the …article that came out yesterday about ending the auctions tends to point to a major shift in strategy rather than a piecemeal movement toward openness.  That being said, I am of the opinion that the institution of the float will commence either with, or shortly after the imposition of tariffs.  Otherwise there will be inflation in Iraq, on the one hand, and an inability of the locals to purchase foreign goods, on the other, due to the rise in the prices of those commodities.

Finally, since the vast majority of goods in Iraq are imported, this will affect the entire economy, not just a small sector of it.  Thus, the change in the exchange rate regime is, really, the only way to avoid massive inflation overnight.  If, as I suspect will be the case, the dinar is allowed to float, it will rise in value at least fast enough to offset the inflationary pressure from the tariffs.  My own view is that it will rise faster than the pressure from the tariffs and that there will be mild deflation in Iraq.  This will, then, with the imposition of the new system by the CBI, allow free access to Iraqi markets, which will bring in more investment quickly.  The new influx of money into Iraq from foreigners will offset the deflationary tendency from the imposition of the float.  Thus, all will work together at the same time to bring Iraq into “parity” with the world market.  I just cannot see how they can do one thing without the other (tariffs versus moving to the float).
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BGG - Here’s something a little weird – indicative rates listed on the CBI website are for 2.22 - however, the last auction shown is for the 19th…usually when the update the rate – they have the most recent auction listed as well…

If, in fact, the budget was published and the CBI auctions ended on the same day, it would appear to be very good news. We should wait and see what the next few days brings.
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The Central Bank suspended the auction currency

Source: Baghdad-Iraq Ahmed

The Iraqi Central Bank announced the discontinuation of the auction to buy and sell foreign currency, and banking on the responsible foreign remittances, as of Sunday. The Central Bank Governor said the relations, in a press statement, that he finished a new version and leave the old ways coupled with certain circumstances

cannot remain the Central Bank Governor,

http://www.dinarupdates.com/showthread.php?15138-quot-The-Dinar-Daily-quot-Monday-23-February-2015&p=98510&viewfull=1#post98510

sczin11 – THE FOLLOWING APPEARS TO BE SIMILAR OR IDENTICAL TO A PREVIOUS RELEASE WE SAW OVER LAST COUPLE OF DAYS..IT IS HOWEVER, TRANSLATED A LITTLE CLEARER, IMHO, AND IS VERY TELLING, IF TRUE, ABOUT THE FATE OF A VERY IMPORTANT POSITION HOLDER, SUPPORTER OF THE FORMER PM, MALIKI…READ VERY CAREFULLY, THE HIGHLIGHTED PART…

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sczin11 - IF IN FACT IT IS TRUE, THAT THEY HAVE WITHHELD THE EXPENDITURES PART OF BUDGET FROM THE GAZETTE…CAN ONLY MEAN ONE THING, IMHO, THEY ARE NOT READY TO FUND THE BUDGET…CBI NOT READY..OR GOVT NOT READY…SOMEONE NOT READY…THE GOOD NEWS, IMHO, THEY BETTER GET READY FAST IF THEY WANT TO IMPLEMENT TARIFFS BY NEXT MONDAY!  [they have delayed the tarrifs before. Why not now?]   THE ONLY EDUCATED ANSWER I CAN GIVE YOU IS THEY APPROVED A BUDGET BASED ON REVENUES FROM TARIFFS…IF THERE ARE NO REVENUES GENERATED BY TARIFFS, YOU CAN KISS THE NEW IRAQ GOOD BYE!  JMHO.

I MAINTAIN NEXT MONDAY IS A BACKWALL FOR VERY TELLING INFO…THE TARIFFS ARE TO BE IMPLEMENTED BY THEN, AND THE NEED TODAY MORE THAN PREVIOUS YEARS, IS THAT THEY HAVE BEEN FIGURED INTO THE BUDGET DEFICIT REDUCTION PLAN, THE TARIFFS THAT IS… TARIFFS AT THE CURRENT RATE TELL ME IRAQ WILL IMPLODE AND RETURN TO TRIBAL LEADERSHIP, JMHO.  SO NOW WE SEE WAIT THE NEXT FEW HRS, DAYS BRING…WILL THEY IMPOSE TARIFFS NEXT MONDAY? WILL THEY PUBLISH EXPENDITURES INTO THE GAZETTE? WILL THE CBI PROVIDE THE GO GO JUICE SO MOP AND MOFS CAN IMPLEMENT THE BUDGET?
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Poppy3 - TODAY IS AWESOME IN OUR INVESTMENT…IF YOU AREN’T EXCITED AT THE NEWS YOU SHOULD BE…BUDGET POSTED IN THE GAZETTE….I DIDN’T THINK THE NEW RATE WOULD SHOW TODAY BUT THEY HAVE TRULY SET THE STAGE FOR THEM TO RAISE THE RATE AT ANYTIME EXPECT CONTINUED REPORTS TILL LATE TONIGHT AND MANY MORE UPDATES TOMORROW ON ALL THE CHANGES THEY HAVE MADE TODAY.   THESE WERE NOT JUST ANNOUNCED THEY WHERE IMPLEMENTED.  THIS WAS THE ACTIONS WE NEEDED TO TAKE PLACE.
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Frank26 - We told You the budget would open at 1166…And on this date …Now watch the next step of this budget with The Laws in the comings weeks.  [Guru] DELTA told me yesterday that Iraqia TV is plastering the Budget and Economic Reform goals of the Budget to…THE CITIZENS.   Unless later today they shows us…Auctions have ended.
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Follow us on twitter @DinarUpdates !!

@DinarUpdates retweeted…

Haider Al-Abadi ‏@HaiderAlAbadi  4m4 minutes ago

PM Al-Abadi spoke with reporters from Iraqi satellite channels. Interview to be broadcasted tonight at 9pm local time


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

BGG ~ This looks very promising…

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My Ladies - Quote:  “The new issue of the Iraqi Gazette number (4352), and included separating the first estimate of the federal budget for the financial year / 2015 revenue of  $ (940,483,641,39) ninety-four thousand and forty-eight billion three hundred and sixty-four million one hundred and thirty-nine thousand dinars.”    THE BUDGET HAS BEEN PUBLISHED BUT IF YOU READ IT CLOSELY IT SEEMS THEY SEPARATED THE CHAPTERS AND ONLY CHAPTER ONE HAS BEEN PUBLISHED WHICH IS THE REVENUE.   I THINK THEY PUBLISHED THE REVENUE CHAPTER AND THIS MADE THE AGREEMENT WITH ERBIL FOR PRODUCTION LEGAL…  THEY STILL NEED THE EXPENDITURE CHAPTER TO BE PUBLISHED. SO WE WAIT AND SEE WHAT THEY DO NEXT.

AS I THOUGHT THE FIRST CHAPTER MADE THE ERBIL AGREEMENT LEGAL…THE REVENUE PART OF THE BUDGET MADE THE AGREEMENT LAW BUT NOW THE KURDS WANT THE SECOND CHAPTER. THAT’S THE CHAPTER WHERE THEY GET PAID.  THE KURDS ARE DEMANDING THE SECOND CHAPTER OF THE BUDGET. THEY ARE THREATENING TO WALK AWAY AGAIN.

THE CENTRAL BANK AUCTIONS HAVE STOPPED AS THEY SAID THEY WOULD…THE EXCHANGING OF FOREIGN CURRENCY IS NOW UP TO THE INDIVIDUAL BANKS…BIG STEP BUT NOT QUITE BIG ENOUGH BECAUSE IT DOES NOT SEEM THEY ARE MOVING THIS PROCESS OUTSIDE OF IRAQ YET.  SO WHEN WE SEE THE AUCTIONS WITH ALL THE DIFFERENT CURRENCIES SOLD THAT IS BECAUSE THE CBI HAS BEEN DOING IT, BUT NOW WITH THAT JOB BEING ON THE INDIVIDUAL BANKS IT SEEMS TO ME THEY HAVE TO LEAVE THE BORDERS. SO WE ARE GOING TO SEE WHAT HAPPENS TOMORROW, THE DAY IS ENDED THERE ALREADY. TOMORROW THE WORLD WILL BE AWAKE AND READY TO PLAY.
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Enorrste - Article quote:  “Governor of the Central Bank, explained that “It is not true that the central stays busy selling the currency like ATM daily”, stressing that “the transition to a new phase is to conduct foreign remittances through the banking system within the mechanism developed for it.”   …the definition of foreign remittances:  Foreign remittance can be defined as ‘the purchase and sale of freely convertible foreign currencies‘.  The CBI is stopping the auctions, effective tomorrow morning. This is a fact. We know that the auctions were the primary monetary tool that the CBI used to hold the exchange rate on the street within 2% of the official CBI rate for the dinar.  To summarize:  the auctions are ending, being replaced with foreign remittances. Foreign remittances are only possible with a freely convertible currency. A freely convertible currency is one that is internationally recognized.   In order for this to work, the CBI will have to move from a fixed rate regime to a floating currency or suffer from inflation.   Therefore, I predict that they will do so sooner rather than later.  I predict within the next 15 to 45 days…
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NOVA & MY LADIES - YESTERDAY THE CBI TOLD ALL OF IRAQ THAT EFFECTIVE FEB 22ND THEY WILL IMPLEMENT A SYSTEM THAT WILL ALLOW THEM TO HOLD FOREIGN REMITTANCES ON THEIR BALANCE SHEET, AND LIKEWISE FOREIGN ENTITIES WILL BE ABLE TO HOLD DINAR ON THEIR BALANCE SHEETS.  THEY JUST TOLD US THAT THEY ARE GOING TO BE INTERNATIONAL ON THE 22ND.  WE ALL LOOK TO THE CBI NOW TO SEE WHAT THEY HAVE DECIDED ON FOR AN EXCHANGE RATE.

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Check out the Dinar Corp 120+Max – it’s EQUITY!!

Commercial Solicitation

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Bondlady - Article quote:  “Iraqi Central Bank Governor disclosed the relationship to Sunday 22 of this month will see the discontinuation of the auction and the adoption of the banking system as a responsible foreign remittances…“   tomorrow folks they stop the auctions…no more auctions, thats huge… we had to see that before there could be a monetary change…its time to throw out the old and in with the new CBI procedures in order to diversify and move the country forward and grow the economy and banking areas up to pre war status…imo they are doing it and moving on with the CBI monetary reform…after all these years of the same monetary policy to see all that change and to come off the programmed rate will be huge…we don’t know what they will do yet and nobody does…we can guess all we want to but we don’t know if it’ll RV,  do nothing for a minute or a RI or a float…they need to get Iraqi’s used to dealing with dinar and not the dollar they have become so accustomed to…the CBI will release the new money…We don’t know what rate will be on those notes no one does but I feel like imo the CBI is about to show us soon!
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Tlar - Article quote:   “Tariq Al-araji Iraqi Central Bank Governor disclosed the relationship to Sunday 22 of this month will see the discontinuation of the auction and the adoption of the banking system as a responsible foreign remittances, referring to direct a study shows the feasibility of deletion of the historic heart in this stage.”    No more remittances.  No more auctions = RV.  They cannot RV without introducing a new currency.  Like I have been saying, this is the weekend and this is what we have waited for.  In the banks words, “Sunday it all changes“.  I feel pretty sure this is what we have been waiting for.  No more auctions is great but no more remittances is even better.  That means the banks will be doing wiring and such using the new swift codes Everybody relax.  It isn’t over until it is over.  We should know if this is it by Monday.
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Stryker - [via rsskelton]   Stryker does not do rates or dates, but does refer to windows of opportunity. In fact he specifically stated that…  Does he feel that Sunday is one of those windows? Yes, he does.  He did say he felt we had never been this close.  
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Number (4352) to ensure the doors of the budget disbursement for fiscal year / 2015

Iraqi Gazette newspaper published the general budget of the Federal Republic of Iraq - The new issue of the Iraqi Gazette number (4352), and included separating the first estimate of the federal budget for the financial year / 2015 revenue of $ (940,483,641,39) ninety-four thousand and forty-eight billion three hundred and sixty-four million one hundred and thirty-nine thousand dinars.

The general director of the Iraqi facts circle Hussein punitive, the newspaper included the publication of the income earned from the export of crude oil at a rate of (56) and fifty-six dollars per barrel and the rate of export of (330,000,0) three million three hundred thousand barrels per day, including (250,000), two hundred and fifty thousand barrels per day on the quantities of crude oil produced in the province of Kurdistan and (300,000) and three hundred thousand barrels per day from the product quantities of crude oil in the province of Kirkuk, to contribute to all the revenue actually income once the public treasury account.

He added that the second chapter of a dedicated budget of expenses and the deficit in the fiscal budget for the 2015 law, stressing that the total deficit planned for the budget was (254,140,654,10) twenty five thousand four hundred and four dollars and sixty five million Aravamaúh and ten thousand dinars.

http://www.moj.gov.iq/view.1420/

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Jester - THE INTERNATIONAL BANKING CONTACTS ARE FEELING GOOD ABOUT THINGS…MAIN CONTACT THAT ORIGINALLY TOLD US THIS IS A GOOD TIME…ARE SAYING NO CHANGE…I DON’T HAVE ANYONE RAINING ON THE PARADE RIGHT NOW… FOR THE FIRST TIME I CAN REMEMBER.
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Millionday - Quote: “All banks reported this mechanism”, and as pointed out that “the Central no longer a party to the process of buying and selling the currency,” revealed that “on Sunday will be the application of this mechanism.”  THIS IS…A STATEMENT FROM THE GOV OF CBI…ALL BANKS ARE READY AND HE IS PREPARED TO MONITOR THE ENTIRE POLICY- THE NEW ONE…NO LONGER WILL THE AUCTIONS BE PART OF THIS.  THIS IS THE MARKET MECHANISM WE HAVE BEEN TOLD HAS BEEN PLANNED.  HE WILL AND THE EXPERTS WILL BE CHECKING THE REMOVAL OF THREE ZEROS TRANSITION AND THE STEPS TO COMPLETE IT…AS IT WILL TAKE TIME…FOR THE PROCESS TO BE COMPLETE…FROM BEGINNING TO END.   [So according to this...tomorrow (Saturday) should be the last auction correct?]  YES…THAT IS THE FIRST SIGN WE SHOULD SEE — NO MORE AUCTIONS.   IN THE MORNING THE ACTIVATION OF THE MONEY LAWS WILL BE DONE AND ALSO ALL THE STEPS DESIGNED TO MOVE FORWARD WITH THE EXCHANGE RATES AND ITS STABILITY ALONG WITH FOREIGN EXCHANGE RESOURCES DESIGNED TO MEET THE NEEDS OF THE BANKING REFORM...THIS MEANS THE 22ND OF FEB — SUNDAY. 

[don't they have to have a rate to delete the zeros?]  THE REMOVAL OF THE THREE ZERO CURRENCY WOULD BE A RESULT OF NOT NEEDING THE LARGER DENOMINATIONS.  [does this mean that RV could happen at any time, maybe on publication of budget Sunday, or does the deletion of zeros refer to the RV, and is something that will still take much time in preparation?]  YES THIS MEANS THAT THEY COULD BE SETTING THE INTERNATIONAL RATES AND THE NEW PURCHASING POWER FOR THE DINAR AS WELL PER THE GLOBAL PRICING INDEX AND ALSO ACTIVATE ALL INTERNATIONAL BANKING AND TRADE MECHANISMS AS THEY GO – WE JUST DONT KNOW AND HAVE TO WAIT AND SEE BUT I HAVE TO SAY — THIS IS VERY EXCITING.

[So all this means is that Monday we have a great chance to go to the bank and cash in?]   THIS MEANS WE STILL DONT HAVE A DATE OR RATE BUT CBI IS MAKING HUGE CHANGES THAT THEY HAVE BEEN WORKING ON FOR THEIR REFORMS AND WE SHALL SEE WHAT COMES OF THIS AND WHAT IMPACT IT HAS TO ALL THE VALUES OF THE IRAQI DINAR DUE TO THIS CHANGE.   [Would you agree we will never have a date? Only a rate...?]   I WOULD AGREE THAT IT WOULD JUST SHOW AND NO DATE WILL EVER BE GIVEN AHEAD OF TIME — YES.  SO ONE LAST THING TO SAY ABOUT THAT REPORT… IT SMELLS OF ECONOMIC PROGRESS AND THE FACT THAT IT IS SUNDAY MORNING IS SO VERY EXCITING – SO I TOO CANT WAIT TO SEE WHAT COMES OF IT…WHOO-POW!
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Kaperoni - Article:   “Tomorrow is a new mechanism for buying and selling the dollar“  So my initial review of this is that the discussions last week about the auctions, the parliament limits, news rules for buying/selling are going into effect this Sunday.  This is all related to market rate and IMO an attempt to get into IMF compliance.  We will have to see how this new plan works come Sunday…with a current market rate of 1237 we have to hope that this will reduce the spread. Quote:   “the project is still there “adding that he” has direct development of a study to demonstrate the feasibility of its application and to ensure the safety of its application procedures “ …these procedures are getting rid of the old ways of doing the auctions and the central bank is getting away from being a currency exchanger…the Central Bank has better things to do than deal in a currency auction….these new processes are what all other central banks do that engage with the global economy. So this is a good thing.
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Tomorrow is a new mechanism for buying and selling the dollar

Baghdad Tariq al-Araji - Governor of the Central Bank of Iraq on the Keywords revealed that on Sunday 22 of this month, will stop work ERA Bank and the adoption of the banking system as being responsible for foreign remittances, pointing to the direct preparation of a study to demonstrate the feasibility of removing zeros in this Almrahlh.oavad relationship, a statement singled out the “morning “, that “the central bank since I assumed responsibility for the work to bridge the gap in his dealings,”noting that “it was the finalization of the new version and leave the old ways, coupled with certain conditions can not remain governor at the central bank, which has the functions and tasks big and important activities the national economy.”…

BGG – WOW?!?

Read More: http://dinarupdates.com/blog/
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Millionday - Quote: ”Iraqi facts circle, on Thursday, confirmed on Sunday that the next date of publication of the Federal Budget Law for 2015 in the Journal of the facts...”   THE BUDGET WILL BE PRINTED IN THE GAZETTE ON SUNDAY AND WORK IS BEING DONE NOW TO PREPARE TO SEND OUT THE FUNDS PER THE BUDGET.  THE BUDGET WILL BE PRINTED IN 3 LOCATIONS — THE GAZETTE — DISTRIBUTION CENTERS — AND THE LIBRARY OF JUSTICE AT THE MINISTERS LOCATION — WHOOOPOW.
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Tlar - Article:  “Announced the parliamentary finance committee member Masood Haider, Friday, for the central bank kept the deletion of zeros from the Iraqi currency.“  If they open the budget at 1166 and dispense funds at 1166, it will be a major disappointment…I will view it as a major mistake and failure of the Abadi government to follow through.  While it is true it does not mean our investment failed, I do believe we will be in for another year of waiting if they miss this opportunity and another 12 months for Maliki to erode the effectiveness of the government…My fear is Abadi’s program will sputter out if they don’t do it now…   The encouraging thing to me about this negative article is that the CBI thinks “this is the time”…meaning to me the decision has been made by the CBI.  …time will tell.
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Adam Montana - [WHY do you think the 2015 budget has NOT been published in the Gazette as of yet?]  Calm before the storm if this is indeed our time! *fingers crossed*  There is more that I’d comment on, but at this time I’m going to bite my tongue and wait to see what comes through the pipelines… we are close to the end of this ride, but we have to wait it out.
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Kurdistan ‘open for business’ despite ISIS war 


NEW YORK – Kurdistan’s new envoy to Washington has sought to persuade American businessmen that the threat from Islamic State (ISIS) militants is under control and that Iraq’s northern region is a safe destination for investment.

In one of her first official duties as the Kurdistan Regional Government’s (KRG) envoy to the US, Bayan Sami Rahman met members of the US Kurdistan Business Council (USKBC) on Thursday as part of a drive to drum up business in the turbulent region.

“The KRG is currently at war with ISIS, it is not a fight we chose,” Rahman said. “Since August of last year, Kurdish forces have both countered this menace and have retaken almost all of the Kurdish territory it had previously conquered.”…

http://www.dinarupdates.com/showthread.php?15128-quot-The-Dinar-Daily-quot-Friday-20-February-2015&p=98048&viewfull=1#post98048
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Frank26 - [Article]  The CBI has terminated the buy and sell period process internally within their banks…The CBI has a new mechanism for the buy and sell process internally within their banks.  They talk about the study of lifting the 000′s ……. NOT the lifting of the 000′s…IMO …… This is stupendous !!!  Such news should require an emergency ……. But TEAMS WANT to see what opens up this Sunday……. I agree…THE LAWS are about to be given LIFE via the legal opening of the 2015 BUDGET and THE CBI is saying ………. Yes……. They agree with this new …… GOICBI!  This is a serious accomplishment in the MR of the IQD …Your investment.  We have MORE…We need SUNDAY DATA first.
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Millionday - [...is there a way for them to fund the budget without an increase in value?]  THE REALITY VALUE DUE TO THE GLOBAL PRICE INDEX FOR A MARKET ECONOMY WOULD BE NICE TO SEE — THEY HAVE ALOT OF INTERNATIONAL CONTRACTS AND AGREEMENTS IN THE BUDGET – WHAT WE WANT IS TO SEE A MARKET ECONOMY AND KNOW THE TRUE VALUE OF THE DINAR FOR THAT MARKET – THIS IS FINANCIAL PROGRESS FOR IRAQ – AND WHAT IS NEXT WOULD TAKE A CRYSTAL BALL BUT WE ARE WATCHING FOR EVERY CLUE WE CAN FIND...STICKING TO THE INK IS WHAT I PREFER.  IF THE VALUE OF THE PURCHASING POWER OF THE DINAR CHANGES AND THE INTERNATIONAL RATES ARE RELEASED IT WILL BE DONE BY DATA ENTRY ALL AT ONCE — ELECTRONIC CHANGE IN THE MARKET — INCLUDING THE NEEDS FOR THEIR BUDGET ETC.  I DO NOT KNOW WHAT THIS WILL BRING FOR US — I WILL NOT CALL IT — SO KNOW THIS IS A HUGE WHOOPOW.
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Tlar - Article quote:  “but he pointed out that” this is not the time to replace the currency, and that the lack of security and economic stability in Albulad.”   While security is important this article implies that the CBI thinks the timing is right.  With all the recent changes in the banking sector, taxes and tariffs being implemented on March 1st, the swift coads being issued to independent banks, loc’s being pushed and bacvked by the CBI,currency being flown to outlying territories, budget being posted on Sunday in the Gazzette, economic laws being passed shortly if not already but just not published, there is plenty of things that screem the timing is right.  I have stated that we will know shortly because that is what I believe.
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Parliamentary Finance: Central Bank qualify the deletion of zeros from currency

Follow-up – and babysit – announced Almalahalgnapeh Committee, on Friday, for the central bank kept the deletion of zeros from the Iraqi currency.

(Meaning they, the CBI, Maliki, has, have been or is… keeping this from happening)

The committee member said Masood Haider, “it was a lot of studies on the subject of deletion of zeros from the currency,” adding that “the Central Bank has reservations about this thread a little bit, and we did not Nstda central bank director was not met, done to discuss this matter, as well as other officials in Bank “.

He added that “the process of deleting the zeros need to be in-depth study, because they greatly affect the Iraqi currency and the price of the Iraqi market and on the Iraqi economy in general.” (Really?!? So it isn’t a “currency neutral” event then)??…

Read More: http://dinarupdates.com/blog/
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Breitling   [Ultimately] They want to separate into 3 states (not 3 countries)…the Kurds, the Sunni and the Shia and they want to have equal representation and they want access to the oil and all that wealth.  In the end it’s all about that oil and it’s all about that wealth.  I don’t care what anybody says…that’s what they’re after…that’s what they’re killing each other for.
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Frank26 - The Budget IS PUBLISHED but not for eyes until SUNDAY.   
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Adam Montana - [In your opinion, Besides the HCL what is the single most important thing Iraq should do to achieve the RV/RI?]  That’s a tough one… I see the HCL as numero uno. If they pass the HCL and we don’t have an RV in extremely short order, I will owe you an apology!
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Chattels - my belief has always been that any comparison between Kuwait and Iraq regarding the alleged RI /RV of Kuwait’s currency after the Gulf is like comparing apples and oranges.   Kuwait’s currency value was depressed by the war and occupation and people bought it cheaply and made money when the value was no longer depressed…frankly, it is a fantasy to draw any favorable or insightful comparison(s) between the two events.
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Jester - THE IRAQI BUDGET SHOULD GO IN ON SUNDAY… GOT THAT FROM MY SOURCES…[GURU] TLAR…HE HAS IT RIGHT…THE WORD I AM GETTING IS IT WILL BE PUT IN THE GAZETTE ON SUNDAY… SAME AND WHAT HE IS SAYING…I AM NOT SAYING THAT SOMETHING COULD NOT HAPPEN TO MESS THINGS UP… IT COULD… IT HAS IN THE PAST… BUT FOR RIGHT NOW IT IS LOOKING PRETTY DANG GOOD.   SO…IRAQ GETS THEIR STUFF DONE ON SUNDAY.. 48 HOURS TO GET IT INTO LAW… FROM WHAT I UNDERSTAND.  
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Millionday - the Iraqi government requires them to sell $119 million worth of crude oil per day to clog the employees’ salaries,” expected “overcome this crisis with cash that the Iraqi government is facing in the coming months.  Mutlaq said that “the launch of the federal budget for 2015 by the Ministry of Finance to all ministries will be early next week to enable them to exchange.”   THEY ARE REFERRING TO A COST ANALYSIS – THEY MUST SELL 119 MILLION US DOLLAR TO COVER WHAT THEY HAVE BUDGETED FOR THE MINISTRIES...THOSE OF US THAT HAVE BEEN HERE A LONGTIME KNOW THAT WE HAVE NOT READ THESE WORDS BEFORE FROM IRAQ — FUNDING THE MINISTRIES – WHOOPOW   …I FIND IT INTERESTING THAT THEY DO NOT STATE THE DINAR AMOUNT –  THEY WILL ONLY BE USING THE DINAR FOR THEIR NATIONAL CURRENCY PER REGULATIONS BY THE CBI — THE OIL IS PAID FOR IN US DOLLAR AND SENT TO THE CBI AND EXCHANGED THEN FOR DINAR.
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Mnt Goat - We have been waiting for the opening of the 2015 budget and the distribution of allocated funds to each of the provinces. We know that in order to accomplish this they must complete the economic reforms and in particular the currency reform.  So yesterday, Thursday 02/19 out pops news from the Parliamentary Finance telling us that next week all the provinces will see the release of the federal budget funds for the ministries…Article quote: “…the launch of the federal budget for 2015 by the Ministry of Finance to all ministries will be early next week…“   Earlier this week we also heard news of large sums of cash being delivered to Anbar  providence.   …these can’t be more 3 zero notes since there was a massive effort by the CBI to collect nearly 75+% of these old notes from the citizens. I believe they must be the lower denominations  since we heard earlier this month this distribution was about to begin. There are many other provinces that also received large sums for cash this week.

This all comes on the heals of this gold buying frenzy by the CBI we heard about recently. We also know that the chairman of the CBI wanted the revalued currency to come out at a very high rate to the international community and they were told they had to have solid assets to back it up. With the declining oil prices they needed to make this gold deal. Thus the gold. Do you see also why an RV rate of 10 cents or 40 cents, 1.17 or even anything less than the pre-war value is ridiculous?  They didn’t need the gold to back  that kind of initial rate. We know the free market is going to drive the rate into a buying frenzy once public but it is the initial rollout rate they must prove to the IMF its value.  I believe its all about to happen very soon. I am hearing they need the weekend (and maybe into early next week) to prepare and distribute the lower denominations.  I do not like to predict rates for the IQD but I am hearing that we could see a $3.58 up to $4.00 range when it goes international but certainly well over pre-war rates. Yes – it really is about to happen folks!
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tman23 - As for the exchange rate of the Central Bank kept linking the Iraqi dinar US dollar system, and narrowed the gap between the official exchange rate in the market and the budget until it reached 2.6% last September, thanks to the line taken by the central bank towards the liberalization of the foreign exchange market…… THIS WAS AN IMF STATEMENT 12/31/2014…….  the official exchange rate in the market and the budget……. SIGNIFYING MARKET RATE AND BUDGET ARE TIED TOGETHER……
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Tlar - Iraq has a liquidity problem.  Not enough dinars to go forward.  They either print more, or continue on dollarizing, or they must RV.  The new dinars are the smalls.  They are sitting and waiting release.  The choice to me is clear because releasing the smalls with a higher rate dedollarizes the country, alows them to start using the own currency and instantly solves their liquidity problem. …that’s the only option to me that makes sense.
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Millionday – THEY ARE SAYING…THAT THE STOP IN PRODUCTION CHANGED THE COUNTRY`S BALANCE IN PRODUCTS AND OF COURSE SO DID THE INVESTMENT CLIMATE – SO NOW IT WILL IMPROVE WITH THE OPENING OF THE PRIVATE SECTOR AND THE MARKET ECONOMY – AN OPEN MARKET ECONOMY WILL ADD BALANCE AND IMPROVE THEIR INCOMES AS WELL SO THEY MUST BEGIN WRITING THE INVESTMENT LAW (AMENDING) AND ALSO CHANGING TO A SINGLE WINDOW — THAT MEANS LESS RED TAPE A ONE STOP SHOP FOR INVESTMENT PAPERWORK ETC.  THEY JUST NEED TO MAKE SURE IT IS SET UP JUST RIGHT FOR THE CHANGES OF REFORMS AND A MARKET ECONOMY — THEIR GOAL.   MEETINGS THEY ARE HAVING ARE ADDRESSING EVERYTHING THEY NEED TO MOVE FORWARD — LOVE IT.  THIS IS OBVIOUSLY REFERRING TO THE CHANGES FOR THE COUNTRY TO OPEN BACK UP TO THE GLOBE SO AS WE KNOW — THEY HAVE COMPLETED A LOT OF IT — SO THIS IS GREAT.
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Check out the Dinar Corp 120+Max – it’s EQUITY!!

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Kaperoni - Article Quote:  “the ruling Dawa party on the verge of cracking the fragmentation because of Maliki and practices with Abadi, who belongs to the same party“  If the Dawa party (about 30-40 seats) falls apart it will only strengthen the other blocks. Which is good. And with the party falling apart, Maliki is losing control, and losing strength. Looks to me like his followers are abandoning him. Of course as Maliki gets more desperate, who knows what he will do.
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Tlar - With the publishing of the budget we will soon know the truth one way or another.  If the budget comes out Sunday and a few days later they start disbursing the funds at 1166, then it is more than likely it will not happen this year.  So this is likely the weekend we should see a change if they are going to do it this year.  This budget takes all the guesswork out of this IMO…  There is plenty of rumors, some supported by articles, and intel is once again  heating up that support a change if that is what they do.  I am, like so many of you keeping my fingers crossed they actually do it this time.  This is a critical time for Iraq and we will see if they stand up to the challenges.  IMO their liquidity problem, their lack of dinars, will be solved with an RV and the release of the smalls, or they will have to fund their budget in USD.  All articles point to the fact that they want now to exclusively use dinar in country so again…  Ministries are calling for de-dollarization now.
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Aggiedad77 - First…there is not likely to be a “new adjusted rate” …within the budget  …there is likely to be the “language” that will allow for a rate change Second…though it is possible I don’t see a rate being announced ahead of the publication of the budget.  Third… depending on what we see within the budget there definitely could be a time frame before we see the budget fully funded…we don’t know that time period though…it could be minutes, hours, days…but the longer they wait…the more we believe they hurt themselves.  Do not be excited about something we don’t control…you will be disappointed…be excited by the action you do see…the BEST is yet to come! 
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Sunday .. publication of the budget in the facts of Iraq Law

BAGHDAD / Obelisk: Iraqi facts circle, on Thursday, confirmed on Sunday that the next date of publication of the Federal Budget Law for 2015 in the Journal of the facts, noting that the work is underway so far on the formulation and audited in preparation for deployment.

The general director of the Iraqi facts circle Hussein punitive, in a statement seen by “obelisk”, “The number of Sunday from the Iraqi Gazette, will include the publication of the general budget of the Federal Republic of Iraq for the financial year / 2015, all the details of the law,” he “provides the latest issue of the newspaper The facts of Iraq, in the approved distribution centers, and a library of justice in the ministry’s headquarters. ”

He punitive “The federal budget law requires several days to be drafted and printed in minutes being includes full details of a large number of tables and figures,” pointing out that “the Ministry of Finance will sign what has been drafted in the budget before it was published.”…

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

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Arthur - There is not some special Gazette where they keep secrets.  The Gazette is the Gazette and there obviously is no budget in it yet because when it gets there the whole world will know that the budget is then legal, implemented and open and in the process of being distributed. The very fact that the budget has been signed and agreed upon but not yet in the Gazette tells us there are further steps that are still needed.  These steps they are trying desperately to get done by Sunday earliest.  Several two and three letter agencies are working feverishly with the GOI and the CBI to get this done.  We have to remember this is way bigger than just us few dinarians wanting a pay day…this is big international business which needs this done immediately if not sooner but according to international protocols and mechanisms that make it legal and permanent.  
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Bondlady - Article quote:  “the launch of the federal budget for 2015 by the Ministry of Finance to all ministries will be early next week to enable them to exchange.”   they are moving quickly to be able to release the fed budget next week…[I don't know what the hold up was on publishing the budget in the gazette...?]  it could very well be all the laws needed to pull all this stuff off….to make this budget work.  we still got a good shot for the 1st quarter imo.  I had said a few weeks ago…If they could open it by say March we could be in good shape to see some sort of monetary change…   imo even if it came out at a float instead of a RV or RI…supply and demand would drive up the rate pretty quickly… Abadi following the CBI instructions, CBI helping Abadis gov, Jubouri bringing the laws in an making them happen… its all good…  CBI has to show us the way for sure and I feel they are about to…exciting times for us dinar investors for sure after all this time.
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tlm724 - Article quote:  “Finance Committee in the House of Representatives member Haider Mutlaq, on Thursday, that the launch of the federal budget for 2015 by the Ministry of Finance to all ministries will be early next week…“   now they are getting right and we have confirmation from the Minister of Finance on this, let me show you… Quote:  “Implement the decision of the Cabinet in its meeting last Tuesday February 17, 2015, and pursuant to the Budget Law for 2015, regardless staff salaries self-financing companies, the Ministry of Finance has taken all necessary steps to pay those salaries procedures and starting from next week.”   I don’t know what the hold up was on publishing the budget in the gazette but they will probably publish it now.  I like the way things are coming together.
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Sadr suspends militias after Sunni leader’s murder

ERBIL, Kurdistan Region – Shiite cleric Muqtada al-Sadr has shut down two militia groups…

after the assassination of a prominent Sunni tribal leader…

and the subsequent deepening of sectarian tensions across Iraq…

Read More: http://dinarupdates.com/blog/
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Millionday - UPDATE ON THE PRESIDENTIAL MEETING THEY ARE HAVING… THEY ARE MAKING AN AGREEMENT TO FOLLOW THE CONSTITUTION AND ALSO THE AGREEMENT ON OIL-THE BUDGET — AND THE ERBIL AGREEMENT WITH THE GOV PROGRAMS — THEY HAVE MADE HUGE AGREEMENTS WITHIN THE COUNTRY AND THEY ARE STATING THEY HAVE TO MOVE FORWARD WITH ALL THAT HAS BEEN DONE –  THE MEETING WITH THE PRESIDENTS IS POSITIVE AND ALSO VERY PRODUCTIVE IF THEY FOLLOW THROUGH – WHICH IT APPEARS THEY WILL BE HAVING SOME HUGE ANNOUNCEMENTS…IT APPEARS AS IF THEY WILL BE RESOLVING ALL OUTSTANDING ISSUES.
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Hocus Pocus - here is the latest information that I have…Had a little convo with my friend today.  Exact words were “things are ramping up over there“  They are excited.  Having celebrations in the mosques. Very good feeling about how things are going.  The notes on the television there are “their money is going to be worth something again”.  The announcement from last week did not happen. I think they are waiting on it right now but the feeling is it is very close.

(Possible BS alert)
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Millionday - …PARLIAMENT FINANCE IS INVESTIGATING WHY THE BUDGET HAS NOT BEEN PRINTED IN THE GAZETTE.   I HAVE TO SAY — I JUST DON’T THINK IT IS PRINTED YET – I WOULD SAY ALL MEDIA WOULD HAVE IN IT THAT IT WAS PRINTED SO I STILL DO NOT THINK IT IS PRINTED IN THE GAZETTE.
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Government Abadi, shaking off the dust from the oil and gas law

Haider al-Abadi as government inherited challenges and tasks and projects unfinished from the previous government, the parliament, elected last year, inherited from its predecessor bills not approved during the previous legislative sessions…

…steps taken in this direction the agreement reached by the Oil Ministry with the Kurdistan Regional Government in preparation for the settlement of other outstanding issues between Baghdad and Erbil. In this atmosphere, were reported preparing a new project for the oil and gas law. The reports pointed out that the new project, who are eyeing the reasons that prevented the adoption of the previous texts in order to overcome in the new draft…

Read More: http://dinarupdates.com/blog/
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Tlar - According to intel the smalls have been delivered and picked up twice before indicating a reversed decision by the CBI.  This time this feels different  though because recent articles tend to support that they might finally be ready to follow through…in my opinion I think this is all over but the soap.  …do I think this intel is good, YES.  (we may be much closer than we think.  They can’t drag this out without the Abadi government loosing total credibility.)
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Enorrste - Article:  “Expert: Maliki seeks to bring security chaos to scuttle the current government“   This is a frightening article indeed.  First, it indicates that Maliki’s action are not entirely in secret, which also means that he has a degree of confidence that he will succeed.  Second, we know that he has his own security force, but this article also seems to indicate that he is the “current deputy President of the Republic or the planning and implementation of security,” which may mean that he has even wider influence over security matters in the country than we might have thought.

Finally, the highlighted part of this article clearly indicates that Maliki is preparing to take action against Abadi “in the coming months“. Highlighted quote: ”He added Mashhadani that “there is an effort and a clear and serious by al-Maliki and his political team to thwart the current government and put obstacles in front of the current prime minister Haider al-Abadi,” likely that “the al-Maliki to bring down the current government or paralyzed as a result of planned al-Maliki implemented in the coming months.“   So, the question is this:  will Abadi be able to stop him?  Only time will tell, but the fact that no action has been taken thus far against Maliki seems to imply that he has some serious backing within the State of Law party (also Abadi’s party), to the extent that Abadi is apparently helpless to act.  I don’t like this.
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home7

Iraqi Dinar/Dollar auction 2-19-15

Currency Auctions Announcement No. (2891)

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

The results were as follows:

DETAILS                                                              NOTES
Number of banks                                                24
Auction price selling dinar / US$                    1166
Amount sold at auction price (US$)               85,993,000
Total offers for buying (US$)                           85,993,000

Read More: http://dinarupdates.com/blog/
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Throwback Thursday (Friday)

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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