THE DINAR OBSERVER DAILY July 5th

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*** Current Posts ***

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Bondlady - Article:  “Abdul-Mahdi announce the arrival of Iraq’s production of “4.3″ million barrels per day“   thats awesome! and the most production ever…Very Happy.
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tlm724 - Article:  “Urgent start of the parliamentary session in the presence of 235 deputies to read the general amnesty, accountability and justice laws  4 sessions in the last 5 days!  unheard of…Very Happy.
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tman23 - As I had been saying……. And now in ink, the Kurds are threatening the payments in USD…….. They would abandon the IQD altogether !!!!!  A MAJOR THREAT for the CBI…….   Called it weeks ago !!  Just another confirmation that we are in an excellent position to see change……. Unless the GOI and CBI want to continue with the game of chicken……..and to continue wouldn’t be unrealistic since these people are known for blowing themselves up…….  With a rational person, you can deal…….with an irrational person, you can negotiate……..  With a tyrant, you can do neither
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Stryker - Aritcle Quote:    “It should be attached to the mechanism of enactment of the law as a first stage administrative mechanism and executive-money laundering law, being gives confidence to the Iraqi economy and the confidence of the Transparency International organization and international organizations.”   These were the things that CBI Governor Ali Ismail was talking about March 3, 2015 when he said this:  “This operation will be preceded by regulatory and administrative processes and the form in which it will start moving in,” adding that “the Bank began creating currency models and training of cadres to it.“  And when he said that he was talking about this: “the project to delete the zeros is based has been put into practice and gave the green light to start with,” noting that “The project needs a period of time may extend to two years or more.“   My point in bringing you this because these administration and regulations will be what keeps the bad guys from gaining from the new currency reform!  So don’t think the security and ISIS are the hold up, IMO there not!
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Poppy3 - I HAVE BEEN TOLD THEY ARE MOVING WITHOUT DELAY AS FAST AS THEY POSSIBLY CAN. THEY MUST SETTLE SO MANY DISPUTES FROM TRIBE TO TRIBE BUT ABADI IS A MASTER – FROM PEOPLE I HAVE TALKED WITH AT BREAKING BARRIERS AND GETTING PEOPLE TO WORK TOGETHER. HE CAN ONLY BE AT SO MANY MEETINGS BUT IF YOU HAVE NOTICED AFTER EVERY DELAYED MEETING OR PUBLISHED DISPUTE WHEN HE ATTENDS THEIR NEXT MEETING THINGS GET SETTLED. HE IS PUSHING FOR COMPLETIONS OF ALL AND TO GET THE MONEY FLOWING FOR THE PEOPLE OF IRAQ AND AS POPPY3 HAS ALWAYS SAID WHEN THE PEOPLE OF IRAQ GET BLESSED WITH WHAT THEY WANT THEN WE WILL GET OURS.  
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Parliament finish the first reading of the general amnesty law

Long-Presse / Baghdad - It ended the Iraqi Council of Representatives, on Sunday, the first reading of the draft of the amnesty law, while the bite of law for the second reading soon.

A parliamentary source said in an interview to the (long-Presse), “The House of Representatives ended during its fourth legislative term of the first second legislative year, which was held today, the first reading of the draft general amnesty law.”…

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

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BGG - quite honestly – as I understand it - they are still missing a whole level of government intended to be something along the lines of our Senate.  [I thought that Abadi wanted to give more power to the regions (states)?]  so he says…let’s see it.  well – unfortunately the saying “Iraq is open for business” has come and gone…well – give the proclamation months and months and they are still in the middle of a very serious struggle.
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Aggiedad77 - Article:  “Today the House of Representatives ratified the international conventions and discusses the insurance car accidents and the law of Islamic banks“  Well kind of a ho-hum day in Parliament today [Saturday], yes there was some action but mostly be those pinch hitting it seems…the big guns were kept away from the table yet again…there was a second reading of the Islamic Bank Act…this was actually submitted by the Finance Committee…
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Kaperoni - Articles:  “Rafidain Bank confirms his quest to support the national economy through cooperation with Arab and foreign banks“  & “Rafidain Bank opens prospects for cooperation with Arab and international banks“   This continues to be a good step in the right direction.
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Stop in for “NEWS TIME” with  Millionday – Sunday nite on CHAT at 7:30pm EST!!

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Kaperoni - Article quote:  “the Cabinet’s decision to vote on the draft anti-money laundering law submitted by the central bank, which was put on according to the latest international standards and agreements and coordinate directly with the World Bank and the Financial Action Task Force and international organizations…“   I don’t believe I have seen it in writing in the IMF Article IV Consultations, but I would expect that such law would be a requirement also prior to acceptance to Article VIII.  It has already been stated by a few, this is no slam dunk.  To many corrupt Iraqis would prefer to keep stealing over the passage of this.  It will be interesting to see how it is received in parliament.
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sczin11 - [perhaps it is darkest before the dawn and indeed there is desperate progress being made and necessarily outside of the public eye.]   THEY ARE SETTING THE STAGE TO TAKE DOWN ANY AND ALL CORRUPT OFFICIALS, PREPARING THE JUDICIAL SYSTEM TO NOT FEAR RETALIATION…IN ORDER TO ACCOMPLISH THIS, PROPER LAWS MUST BE IN PLACE SO THAT GLOBAL BACKING WILL BE PRESENT, AND INTERNAL OBJECTIONS, WILL NOT INTERFERE, WITH THE PLAN… AND THIS IS WHAT IS HAPPENING…EVERY ARTICLE THAT SOUNDS BAD FOR IRAQ, IS REALLY GREAT FOR THE PLAN.

BGG Notes: Seriously?!? All corrupt Iraqi officials??

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Millionday - [do we know if Baghdad had the Q Cards loaded yet?] THIS WEEK ALL ELECTRONIC EQUIPMENT WAS DELIVERED…NO NEWS ON THE CARDS BEING LOADED YET THAT I HAVE SEEN IN INK.
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home7

Iraqi Dinar/Dollar auction 07-05-15

Currency Auctions Announcement No. (2988 – the most recent listing)

This daily currency auction was held in the Central Bank of Iraq on the 07-05-2015

The results were as follows:

DETAILS NOTES
Number of banks 26
Number of remittance companies 6
Auction price selling dinar / US$ 1166
Auction price buying dinar / US$ —–
Amount sold at auction price (US$) 244,200,028
Amount purchased at Auction price (US$) —–
Total offers for buying (US$) 244,200,028
Total offers for selling (US$) —–

More: http://dinarupdates.com/blog/
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Kaperoni - Article quote:  “the Cabinet’s decision to vote on the draft anti-money laundering law submitted by the central bank, which was put on according to the latest international standards and agreements and coordinate directly with the World Bank and the Financial Action Task Force and international organizations…“   I don’t believe I have seen it in writing in the IMF Article IV Consultations, but I would expect that such law would be a requirement also prior to acceptance to Article VIII.  It has already been stated by a few, this is no slam dunk.  To many corrupt Iraqis would prefer to keep stealing over the passage of this.  It will be interesting to see how it is received in parliament.
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Millionday - [do we know if Baghdad had the Q Cards loaded yet?] THIS WEEK ALL ELECTRONIC EQUIPMENT WAS DELIVERED…NO NEWS ON THE CARDS BEING LOADED YET THAT I HAVE SEEN IN INK.
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Kaperoni - I will just say this when it comes to a LOP. A redenomination is a last resort, it is a sign of failed economic and monetary policyIraq though in tough times, has not failed.  …most of the worlds currencies float and Iraq will also when the time is right
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wmawhite - …do you remember all of those “trade agreements” that Iraq has been signing over the past couple of years?  Those trade agreements are with countries…and those countries are similar to customers to Iraq and Iraq is similar to a customer to those countries. So think…trade…with over twenty (20) different countries that have different currencies. When Iraq introduces the IQD to the world currencies markets, these are some of the first countries that will start conducting international commerce with Iraq and the Iraqi Dinar.
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Millionday - [Have you found anything on the credit rating for Iraq on July 7th AND do you have to have a revalue IYO before the credit rating?]    …ALL I FOUND WAS A MEETING ON THE 7TH.   I DONT THINK THEY HAVE TO REVALUE BEFORE THE CREDIT RATING BUT I WOULD THINK THE REFORM PLANS AND REVENUE EXPECTATIONS ETC WOULD BE RELEASED FOR THE RATING THOUGH OR AT LEAST THE SCHEDULE TO PAY ALL DEBTS.
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Frank26 - [Is Iraq's credit rating still a go for July 7th?]   iMO…They have it…We public Joe does not yet.  Based on BONDS INTEL. We see international not domestic bonds.  [I think EID would be a great time for the Iraqi citizens to receive their share of the oil revenue!]  Was asked Monday if i feel 2015 is our year.  Don’t know…But do know this is the FIRST time we see the HCL in its full statuesque form on the operating table…THE FIRST YEAR EVER!
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Millionday Round Table Chat (mid-day) 7-03-15

Thanks to DinarRecaps.com for posting Round Table with Millionday!!

Millionday: The Central Bank of Iraq (CBI) has been attempting to delete three zeros from the Iraqi currency since 2003. This project has raised many concerns among the Iraqi public and within the business community, and Iraqi economists are divided…

…Haider al-Abadi, the head of the Iraqi parliamentary Finance Committee, told Al-Monitor that while deleting zeros from the current currency is possible, this has been postponed until after parliamentary elections. He noted that studies are being carried out to ensure that, following the currency change, counterfeiting is limited and that Iraqis don’t go back to trading in the old currency.

Millionday: NOTE –THIS WAS SENT TO ME BUT

Millionday: HAS BEEN REPRINTED SINCE THEY HAVE BEEN REPORTING THE COINS (METAL)

Millionday: The step to delete zeros from the currency has been postponed several times, leading the parliamentary Economic Committee to demand that the CBI accelerate this project, as Al-Sharqiya reported. In a news conference held July 6, the Economic Committee confirmed that the deletion of zeros will lead to an increase in the value of the Iraqi dinar and will have positive repercussions, including a reduction in unemployment and poverty rates in the country.

jtank: is it postponed or not?

Millionday: THIS AN EXACT REPORT THAT WAS PRINTED LAST YEAR SO VERY ODD WITH ALL OF THE DEMANDS WE HAVE SEEN

Millionday: SO AS WE CAN SEE THEY HAVE REPRINTED THIS ONE MORE TIME –

http://www.dinarupdates.com/showthread.php?15699-7-3-2015-Round-Table
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tman23 - The bonds are considered “investment grants” from third parties…….it reframes the value of the currency indirectly supporting the national currency, and when structuring currency returned it reduces inflation Iraq “………  The BOND is necessary…. not for liquidity issues only……. the 5 billion or 11 billion does not fill the gap……Quite frankly the GOI can burn through 5 billion in 6 -8 weeks just to meet monthly obligations…….remember that this is ALL while still in “austerity mode” which is 50% of what they should be paying, IT SOLVES NOTHING !!……….. The Bonds are a SIGN that they are restructuring monetary and a precursor to the change……. The amount from 5 billion to 11 billion may just be a sign that the KRG is signed on to the program….  We will certainly know the fate in 12 days…….
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Friday Morning Dinar Updates Chat…

BGG: It is my strong belief something has to happen soon. There is a lot of stuff going on over the next 10-15 days…. the 50 class note, Maliki, trials, $$ shortages – very, very exciting times. I have been so careful as to not be “offending” those who are angered by any stirring of “hope or expectations”… at this point – I just don’t care what they think ANYMORE.

I have said all along – Iraq is (currently) more likely to be forced into some kind of currency reform / MR – whereas before it was more a “planned event”… exciting times. Do I care what the number?? Or exactly when?? No, I do not – just get things going already!!

Savannah: Amen BGG!!

Read More: http://www.dinarupdates.com/blog/
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BGG - now for the good news - they have regained their senses and restarted the auctions…which – in the short term – is better for everyone. Using USD to attract IQD on the cheap is a good way to go.  
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Chattels - Article quote:  Iraq’s autonomous Kurdistan Regional Government (KRG) is backing away from its troubled oil export and revenue sharing agreement with Baghdad, by allocating much more of its oil production to autonomous sales and seeking to renegotiate its fiscal relationship with Baghdad.“   CONTRARY TO CERTAIN COMMENTARIES…THE KURDS HAVE NOT BEEN AND ARE NOT HAPPY…
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Kaperoni - One thing is for sure, if oil revenues remain low, they cannot afford to liberalize the foreign exchange selling dollars for a continued period, the auctions are getting too big…  The end result will be more patchwork and tricks. I know many ask the question..why don’t they simply raise the value or begin currency reform as a solution? The answer is simple…Iraq is not ready yet…they need to pass laws, stabilize the environment, bring investment and investors, to create an environment that allows the dinar to rise as a means to offset inflationary pressure created by the transition to a market economy. This all works together, and for the success of the currency, the stage has to be set.   As Dr. Bakri said, Article VIII will come after the reform…which puts even more pressure on Iraq to get this done since Article VIII is also very necessary to allow freedom of movement of capital (convertibility worldwide).
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Tune in for Round Table Chat w/Millionday @ 1:00PM EST – today (7/03) in the DU Chat Room!!

Read More: http://www.dinarupdates.com/
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Aggiedad77 - Article “Parliament’s legal (et): next week will hold consultations between the three blocs to pass important laws“  This is a sign of some positive action that could be coming up next week within Parliament….plans by the Legal Committee to get a couple of these more important laws pushed to the forefront of the Parliament agenda hopefully….the National Guard Law, the Federal Court Law, and the Law of Parties….apparently these are close to a vote and are believed to be doable in the very near future.
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Kaperoni - IMO, Currency reform needs to happen as soon as possible.  Then they can comply with the IMF and get into Article VIII so the dinar is convertible.
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Stryker - It sure looks like a new 50,000 dinar note will be introduced this month to the existing 3 zero categories. Not what we want to see but it is what it is, and this process is a very time concerning and the timing in launching it is vital to it’s success. In other news the Central Bank is calling for parliament to speed up the Anti-Money Laundering Law so they can recover all the looted funds that have been removed and frozen all over the world.  Also, the CBI is just waiting on Iraq’s credit rating to come out so they can launch the offering of international bonds. In the meantime the domestic bonds will be launched this month if all goes well. Things may not seem to be going well but they are, success takes time…
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Three presidencies agree on the formation of a committee to follow up the national reconciliation and a commitment to the political agreement

Long-Presse / Baghdad It agreed three presidencies, on Thursday, to form a committee represented to follow up the subject of national reconciliation and procedures related to them, and with drew to a need to adhere to paragraphs political agreement and address Allkaat developments in the implementation, Vice President Osama Nujaifi stressed the need to protect civilians in Fallujah and Ramadi before Armageddon and launch National Police and the salaries of the crowd in Mosul…

http://www.dinarupdates.com/showthread.php?15693-The-Dinar-Daily-Thursday-July-2-2015&p=120511&viewfull=1#post120511

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BGG - [now they are talking about the laws that need to get passed and just last week they were talking about the three presidents getting together and passing them by themself, what happened to that idea?]  there is plenty of reference to the 3 presidents getting together… this is no secret. They are even talking about cooperation to advance various “laws”… what may be in question is exactly how they intend to do this – AND keep in mind, this is Iraq, it might not be completely out of the question they resort to some “extra-constitutional” method – especially if agreed to by a majority.  However, having said as much I have been plain for a long time - we don’t need an HCL (they have one) and we don’t technically need more laws…IMHO   will the 3 presidents concoct some form of a “parliament over-ride” – I highly doubt it… will they come to some mutual agreement – more than likely. The bigger issue – they had better do it quickly. Iraq is plainly headed to a dire state of austerity.
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Aggiedad77 - Article “Interior announces the arrival of the first shipments of crude national card”   Are we being provided with hints of the HCL to come…are these cards the precursor of how the citizens portion will be loaded and provided to them in an automatic and “e” function type of manner…wouldn’t that just be the icing on the cake, maybe the cherry atop the ice cream…keep an eye on this process and see what it brings to the Iraqis.
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tman23 - [I want to know who "Keywords is"!  They NEVER give a name...only KEYWORDS?]  Governor of the CBI is “Keywords”… Minister of Oil is “Keywords”… Minister of Electricity is “Keywords”… The HIGHEST in office is the “Keyword”…everyone else speaking below them is not considered “Key”… Still confused?   The person who has the authority is ‘Keyword”.  Think of “Keywords” being replaced by “official statement”.
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Money Laundering Act avoids serious damage to Iraq

BAGHDAD – Al-Sabah - described the head of the Iraqi private banks association meek ​​Handal money laundering law as the best way to enhance the confidence of international monetary institutions and banks the global banking sector, the Iraqi foreign dealings with Arab and international banks.

The bitter melon in a statement singled out by the (morning): The importance of this law stems from the supplied spammers and judgments that enable the judiciary and the central bank and the relevant authorities of the use of appropriate tools to combat money laundering and terrorism financing.

He said Handal’s keenness all member banks in the Iraqi private banks association fully commit to the law, if approved, to the subject of the importance and the impact of direct to the economy and society, especially in light of the circumstances in the country, referring to banks close cooperation with the Central Bank’s intention for the success of his efforts in achieving the objectives of this law.

He Handal to the need to speed up the approval to spare Iraq of sanctions resulting from the lack of such a law and of the development of the country on the black list that harm the reputation of Iraq and its economy…

http://www.dinarupdates.com/showthread.php?15693-The-Dinar-Daily-Thursday-July-2-2015&p=120512&viewfull=1#post120512
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Millionday - Article quote:  “…the adoption of the Council of Ministers to the law of money laundering will give a global trust for private banks…“  THE COUNCIL APPROVED…THE LAW OF MONEY LAUNDERING — THIS ADS CONFIDENCE IN THEIR BANKING INDUSTRY GLOBALLY AND WILL KEEP THEM OFF THE INTERNATIONAL “BLACK LIST”.   SO THE PASSING OF THIS IN THIS PARLIAMENT SESSION OF COURSE WILL BE GREAT NEWS AND HELP IRAQ IN THE GROWTH OF NOT ONLY THEIR BUSINESS BUT ALSO WILL GIVE WORLD CONFIDENCE.
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My Ladies - [...if Iraq gets credit rating on July 7th does that not mean simultaneous international rate?]   WELL…HERE’S THE THING…IF IRAQ GETS A CREDIT RATING FROM THE MAJOR REPORTING AGENCIES WITH OUT HAVING A CURRENCY THEY WILL BE THE FIRST I HISTORY TO DO SO.  NOW THIS WEEK WE ARE WATCHING AN AWFUL LOT OF FIRSTS…I JUST HOPE THAT IS NOT ONE OF THEM.
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BGG Notes: The CBI might buy the 5 Billion of domestic bonds… some kind of “insider deal” - but they will need more than big promises to get international investors to pony up that kind of cash (an extra 6 Billion). Looks more and more like the US and others are SERIOUSLY insistent of reconciliation before they hand over big support.
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Najib: The Central Bank will be put through this month, category 50 thousand dinars

BAGHDAD / Baghdadi News / .. MP announced the parliamentary Economic Committee Najiba Najib, Thursday, that the 50 thousand dinars category will go on the market this month.

Najib said in a statement to / Baghdadi News / “The central bank will present the new category of coin 50 thousand dinars on the market during the month, after it was completed all their own actions.”

She added that “there is another category, which is 100 000 dinars will go after the launch of the 50 thousand dinars category, while the special measures for the completion of that category, and make sure their advantages and disadvantages.”…

http://www.dinarupdates.com/showthread.php?15693-The-Dinar-Daily-Thursday-July-2-2015&p=120515&viewfull=1#post120515
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Enorrste - Having said that, however, I believe that the CBI may have some other cards up their sleeves, although not many.  A lot is riding on the large note introduction.  It is essential in the mind of the CBI that the downward pressure caused by dollarization in Iraq be stopped, at least, before a change in the exchange rate regime is initiated.  …Allaq’s statements indicates that he may believe that he can still stabilize the dinar’s value through the auctions, as was done before.  Once the currency value is stabilized then, in theory, they could move to a float.  But the real desire, in my view, is to put upward pressure on the dinar, and the “hope” is that the introduction of the large notes will start that process away from the dollar. In the end, as KAP  [Guru Kaperoni] has said many times, only investment within Iraq will ultimately provide the upward pressure that will significantly raise the dinar value.  But at this point they have to stop the “bleeding” of the downward spiral in the dinar and the “running away” from it in favor of the dollar.  It is a tricky time.  [post 2 of 2]
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tman23 - This is an earlier statement by Saleh……..  As an economic advisor to the prime minister called for the appearance of Mohammed Saleh to the need to print large coins for circulation in the market, considering it of health phenomena and noting that Iraq is in the monarchy printed currency 100 dinars worth the time, “as there are coin 500 euros, equivalent to more than 600 US. “Saleh also said he “was supposed to delete the zeros from the currency, a project has been prepared in advance and prepared the floor, however, many reasons led to the postponement of an unknown time,” pointing to “the need to reduce turnover in Iraq since the deal today talking about trillions while strive to be trading billions. “   TAKE NOTE THAT HE SAID “PROJECT PREPARED IN ADVANCE”…….LIKE YEARS AGO !! AND NOTE THAT THE DEAL TODAY (50,000) NOTE IS DEALING IN TRILLIONS……..WHY ??? THEY ARE STRIVING TO DEAL IN BILLIONS…….REMOVE 3 ZEROS !!!!
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Enorrste - The plan, as I understand it, is to issue the large 50000 and 100000 notes in order to do two things:  reduce the demand for the dollar within Iraq and allow for a reduction in the money supply.  If the first does not happen, then the second cannot happen.  Without a reduction in the money supply the value of the dinar will not rise.  Actually, to put it more accurately, unless there is upward pressure on the dinar value the money supply cannot be reduced.  Therefore, if the introduction of the large notes does not stem the demand for dollars then there will be no way to wean the country off of dollars and back to the dinar.  Without more upward pressure on the dinar, the longer term plan is in jeopardy.   [post 1 of 2...]
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Iraq to Issue Bonds in August

According to a report from TR Zawya, Iraq is planning to issue a total of $11 billion (13 trillion Iraqi dinars) in bonds in the next two months to cover the state budget deficit.

Acting central bank governor Ali Al-Allaq told the news agency that the government would issue around $5 billion in domestic bonds next month and around $6 billion in international bonds by the middle of August…

Read More: http://www.dinarupdates.com/blog/
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Millionday - TWENTY LAWS ARE SITTING WAITING FOR PARLIAMENT TO PASS RIGHT NOW – REPORTEDLY THEY WILL ADDRESS THE MOST IMPORTANT LAWS FIRST… PARLIAMENT HAS STATED THAT THEY ARE PREPARED SERIOUSLY TO PASS THESE LAWS.  FINALLY A PREPARED HCL IS IN PARLIAMENT AND THE AMENDMENTS COMPLETE.  THEY HAVE STATED IN A FEW REPORTS THAT IF THE LAWS ARE CONSTITUTIONALLY SOUND THEY ARE GOING BE PASSED.  MANY LAWS ARE SITTING SO ALL CAN BE PUT IN PLACE AT THE SAME TIME.
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Poppy3 - STANDING ON NEW RATE THIS MONTH…JUDGING FROM THEIR WORDS AND ACTIONS WE ARE LOOKING VERY GOOD THIS MONTH.
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tman23 - In 2011, Dr. Essawi (Finance Minister) and Dr. Shabibi drafted a Letter of Intent to the IMF… In this letter they described the policies to be initiated in which the major focal point was meters being installed at all oil production and export stations…This was near completion at the time of the LOI as stated in the letter…The Kurd region agreed to the monitoring meters in February 2014…The meters began “LIVE” reporting January 2015… The IMF regarding currency policy changes and revaluing… The IMF states; Specific laws DO NOT need to be in place… as long as they are in the process… That said; The CoM has drafted the laws…The Minister of Justice has reviewed and published them in 3 languages…The CoM has sent them to Jabouri and he has introduced them in Parliament… By IMF standards…The laws being in Parliament and in progress is good enough for a rate change… The oil meters are in place…electronically read!
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Millionday News Time Chat 7-01-15

Thanks to DinarRecaps.com for posting News Time with Millionday!!

Millionday: THE TITLE GRABBED MY ATTENTION>>>RV is Essential to Finance the Budget

Millionday: A seminar held to discuss the progress of the development policies and it was attended by the Governor of Iraqi Central Bank, large number of economists, officials, businessmen, academics and institutions. They discussed the reasons behind the recent crisis, low value of Iraqi dinar against the U.S dollar and its effects on the economy of Iraq. Mehdi Al Hafez said that the prices are stabilizing in the country, the Iraqi Central Bank has taken some major and important measures that limited the provocation of these crisis, so the Iraqi dinar returning to its previous position. The Iraqi Central Bank is also focusing on executing development projects with a handsome support of billion dollars in the form of loans for small and medium size projects.

Millionday: NOTE –THIS IS A HUGE SEMINAR AND THE STABILIZING OF THE ECONOMY — IT IS IMPACTED BY (IF YOU DID NOT KNOW) A LOW VALUE ON THEIR CURRENCY

Millionday: The Governor of the Iraqi Central Bank said that we are focusing on our monetary policy, especially the process of selling the U.S dollars which is most important for Central Bank and for other banks, although buying and selling of foreign currencies is not their business process, but it is related to Central Bank’s monetary policy and to achieve the economic stability for the country. He also added that a sale of U.S dollars contributes financing in the Iraqi commercial sector. It is also said that more than 70 percent of the U.S dollar sales used to cover the imports. He said that there is not any problem regarding shortage of U.S dollars but the lack of coordination and cooperation which resulted shortage in the local revenues and created problems to convert U.S dollars into Iraqi dinars, so the Iraqi Central Bank interested in selling more U.S dollars in its daily sales auction.

Millionday: SO AS WE SEE HERE — THE GOAL IS TO IMPLEMENT THE MONETARY POLICY FOR ALL OF IRAQ AND INVESTORS —

Millionday: MANY HAVE BEEN CONFUSED OVER THE RECENT SALE OF US DOLLAR — IT IS SIMPLY AN ECONOMIC TOOL DUE TO THE RESULT NEED…

http://www.dinarupdates.com/showthread.php?15692-Millionday-news-7-1-15
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tlm724 - Article:  ”Abadi adviser: financial crisis a lesson for Iraq for the advancement of its economy and diversify sources of income“  Saleh said Tuesday that the government is seeking to diversify the investment of oil revenues to develop some types of manufacturing, agricultural and service sectors.  “Iraq is heading to the manufacturing, agriculture and services produced and not rely on oil.”  that would be a free market economy.
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Millionday - TODAY IS FIRST DAY OF PARLIAMENT SESSION. THE IMPORTANT LAWS THAT COULD NOT BE AGREED ON ARE BEING PASSED THROUGH BY EXECUTIVE ORDER (THREE PRESIDENTS) ACCORDING TO REPORTS AND PARLIAMENT IS WORKING ON THE REST THIS WEEK.   THE INVESTMENT LAWS WERE AGREED ON SO PARLIAMENT IS EXPECTED ACCORDING TO REPORTS TO FINISH THEM TO LAW.  THE AMENDMENTS THAT WERE DONE WERE TO ATTRACT AS MANY INVESTORS AS THEY COULD.
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Enorrste - Article:  “Parliamentary economy reveal the 50 thousand dinars coin put into the market this month“   This is great news.  It confirms my analysis, on the one hand, including the fact that they are moving forward more quickly.  But it also puts to death the talk of a 50000 note marked 50 dinars, which will not occur until the value increases significantly.  If we are lucky the 50000 note will become more attractive to the locals and the demand for the dollar will  be assuaged.  To the extent that this happens I predict that the 100000 note will be stepped up to no later than the 3rd quarter of this year.  If, on the other hand, the 50000 note does not lower demand for the dollar, then all bets are off.
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Mnt. Goat - So Ramadan is now in progress… Ramadan continues to July 17th in Iraq and it will have little impact as to whether the RV happens or not.  Two other events having little to no impact on the RV are the Iranian nuclear negotiations and the Greece bailout.  So it has been many weeks already since the MASTERCARD implementation has taken place for Iraq. Many are using the cards abroad for spending but still NO RV. I have told you there would be NO IMPACT on the RV.  If you are now going to ask me for a laundry list of exactly what must be done in order to complete the RV requirements I am sorry to disappoint you. There is no such list. No one is monitoring these events in relation to bringing back their currency online and completing Article 8 of the UN charter. Instead it is all about a satisfactory level of needed security and stability in Iraq. The RV will just happen and be a byproduct.
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Kaperoni - Article:  “Parliamentary economy reveal the 50 thousand dinars coin put into the market this month“  Looks to me they are speeding up the implementation.  I remember [Guru] Enorrste on several occasions also stating he thought they would implement it sooner than later.
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tlm724 - Article quote:  “noting that” the World Bank warned of the repercussions of the washing process taking place in Iraq, and the failure of the extremely dangerous.“   they have been warned and how! it is about to bite them in the butt unless they take quick action!  ...it’s in everyones best interest, the IMF, World Bank and UN to ensure Iraq follows the rules, that is why this is like a kick in the rear to motivate them to take corrective action NOW!  It’s truly a do or die situation and it only furthers our cause.   they MUST pass the Islamic Banking Law and amend the anti-money laundering law and the banking law period! They are a separate entities from the budget!  And remember the Governor of the CBI meet with Jubouri last week and said we must have these laws done! They have a 3 month window for compliance and we do not know when that window began!
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Millionday Round Table Chat (mid-day) 7-01-15 

Thanks to DinarRecaps.com for posting Round Table with Millionday!!

Millionday: Finance Minister Hoshyar Zebari, Wednesday, that the government will take a series of reform measures of the economy in the number of facilities to avoid wastage and the rationalization of expenditure.

Millionday: NOTE — REFORMS OF FINANCIAL EXPENDITURES –

Millionday: According to a statement of financial received “eye Iraq News,” a copy of it, that “Zebari met today with a delegation from the Central Bank and the Iraq Programme Director Robert existence and the World Bank team of experts and specialists in the economy and implementation of development programs to provide a loan to Iraq for humanitarian and development aid proposed.”

Millionday: NOTE — ECONOMIC REFORMS — CBI-WORLD BANK–SPECIALISTS-ETC ALL FOR IMPLEMENTATION OF DEVELOPMENT—–WHOOOOPOW

~~~

http://www.dinarupdates.com/showthread.php?15690-Millionday-Roundtable-7-1-15
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tlm724 - Article quote:  “noting that” the World Bank warned of the repercussions of the washing process taking place in Iraq, and the failure of the extremely dangerous.“   they have been warned and how! it is about to bite them in the butt unless they take quick action!  ...it’s in everyones best interest, the IMF, World Bank and UN to ensure Iraq follows the rules, that is why this is like a kick in the rear to motivate them to take corrective action NOW!  It’s truly a do or die situation and it only furthers our cause.   they MUST pass the Islamic Banking Law and amend the anti-money laundering law and the banking law period! They are a separate entities from the budget!  And remember the Governor of the CBI meet with Jubouri last week and said we must have these laws done! They have a 3 month window for compliance and we do not know when that window began!
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Kaperoni - Article quote:  “The Iraqi government is planning to issue a total of USD 11 billion in domestic and international bonds in the next two months to cover the state budget deficit, the acting central bank governor said.”  Looks like all the bonds are issued in dollars. We will have to see if anyone is interested.
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Frank26 - Try not to predict …Anticipate nor guesstimate anything in this MR.   Simply carefully analyze and comprehend what Is Given.
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Check out the Dinar Corp 120+Max – it’s EQUITY!!

Commercial Solicitation

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Millionday - Article quote:   ”According to an Interior Ministry statement he received “eye Iraq News,” that the meeting discuss the mechanics and the stages of completion and the progress of work in the card project, which will hopefully soon after its launch created a cadre of national card Affairs final preparations for it.”  THIS IS ABOUT THE MASTER CARD — IT IS TALKING ABOUT THE FINAL PREPARATIONS FOR ITS COMPLETION.  THEY USED THE CARD IN TESTING AND IT WORKED INTERNATIONALLY.  THEY HAVE THE FIRST ARRIVAL OF THE EQUIPMENT TO USE THE NATIONAL CARDS IN IRAQ BUSINESSES AND ALSO TO TRAIN…THIS IS GREAT NEWS.
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Chattels - [I could sure use some of the dinar at a 1 - 1 right now...NOW I want date and amount.]   1:1 would be a historic revaluation…10 cents would be a great return.   Godspeed the completion of the Iraqi banking sector reform project.
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Poppy3 - I AM EXPECTING THE RATE CHANGE BEFORE THE END OF THIS MONTH…MEANING JULY… JUST JUDGING FROM…ACTIONS WE ARE SEEING ON WHAT THEY HAVE BEEN SAYING.   …IF THEY CONTINUE WITH ACTIONS AS THEY HAVE BEEN THE POSSIBILITIES LOOK PROMISING IN THIS NEXT 30 DAYS. 
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tman23 - Regarding Maliki and his cronies……… Recall Hakim’s public announcement…….A STORM IS COMING…….and he asked for all politicians to keep quiet and refrain from media outbursts……The only “criers” in media seem to be those affiliated with Maliki…and they are threatening other parties with physical harm……. Maliki has the popular crowd backing…… The trial for some begins July 8th……Quite ODD to begin during Ramadan…….  Timing is everything…….and how do you win the support of the citizens, who quite frankly are beaten down ??
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firefly - Stop looking for a date. WATCH what they are doing. Things are HOT, HOT, HOT.
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tman23 - Never took it as challenging…….  Not only is Iraq in a monetary mess and seeking bailouts……… Take note that Greece has an issue that carries over to the Euro and the condition of Europe as a whole…..Even the POTUS made a statement on the European economy and how it’s failed future progress would hit the US hard…..Then Puerto Rico is in BIG trouble……..  The world economies are defaulting…… The POINT IS…….Japan and other such countries can not afford to continue to loan Iraq 1 billion dollars….They can not afford to keep supporting war efforts at a cost of 10 million per day to the US and have no action on Iraq’s part…….  Our national debt has been frozen for 16 weeks now……NOT MOVED…….. There was more then one reason for June being the “end of the road”……… See the news !!  If IQD is what we speculate it to be…….. WE ARE IN A GOOD SPOT !!
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Millionday - Article quote:  “The leader of the Iraqi National Alliance that «Abadi has long complained of Maliki interventions and influence in the government and in the security file being Maliki still has influence in the security services…“  [... so M is out, if so does this open the doors for the 3 pres. to get things a moving?]  ACTUALLY THEY ARE MEETING THIS WEEK TO USE THEIR EXECUTIVE POWERS TO MOVE FORWARD THE IMPORTANT LAWS THAT HAVE BEEN POLITICALLY STALLED
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Cabinet approves draft law of terrorism financing

The Council of Ministers headed  by Prime Minister Haider al-Abadi.

(IraqiNews.com) Baghdad – Iraqi Council of Ministers approved on Tuesday the draft law of anti-money laundering and the financing of “terrorism”.

Abadi’ office said in a statement followed by IraqiNews.com: “The Council of Ministers held today its regular session number 45 headed by Prime Minister Haider al-Abadi.”

Abadi’s office added, “The Council approved the draft law of anti-money laundering, and the financing of terrorism,” noting that, “this project is of great importance for his role in drying the sources of terrorism and to respond to international trends in this respect.”

Iraq Solidarity News ‏@iraqsolidarity  2h2 hours ago

Cabinet approves draft law of terrorism financing http://bit.ly/1Juczd8 #iraq #iraqi #news

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tlm724 - Article:  ”Prime Minister Dr. Haidar al-Abbadi heads the regular session of the Council of Ministers“  The Council of Ministers approved a draft anti-money laundering law…now we’re talking.   this along with the second reading of the Islamic Banking Law on the 2nd makes me very happy! 
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Millionday - Article quote:  “Topped the economic headlines of newspapers on Monday, calls for legislation Islamic banking law and the achievement of the Islamic National Bank…“ THE CALL FOR LEGISLATION FOR THE ISLAMIC BANKING WE KNEW WAS DECIDED UPON ACCORDING TO REPORTS RELEASED/PRESS STATEMENTS.  THE LEGISLATION WAS CALLED FOR YESTERDAY TO BE OUT IN PLACE SO THEY CAN MOVE FORWARD WITH THE TRANSITION OF A MARKET ECONOMY WHICH IS CALLED FOR IN THEIR CONSTITUTION. THIS SURE LOOKS AS IF EVERYONE IS WORKING EVERYWHERE — VERY EXCITING. THE NEXT PARLIAMENT SESSION BEGINS WED.
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Aggiedad77 - Article “Twenty legally bag in front of the parliament in the second legislative year“   New legislative year opening up…but some old laws still are laying on the table….National Guard Law, Amnesty Law, Political Parties Law, Investment Law amendments, and the granddaddy…oil and gas law…where will they all end up in the shuffle of things…the roulette table turns and turns.
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home7

Iraqi Dinar/Dollar auction 07-01-15

Currency Auctions Announcement No. (2986 – the most recent listing)

This daily currency auction was held in the Central Bank of Iraq on the 07-01-2015

The results were as follows:

DETAILS NOTES
Number of banks 25
Number of remittance companies 7
Auction price selling dinar / US$ 1166
Auction price buying dinar / US$ —–
Amount sold at auction price (US$) 246,413,346
Amount purchased at Auction price (US$) —–
Total offers for buying (US$) 246,413,346
Total offers for selling (US$) —–

More: http://dinarupdates.com/blog/
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tlm724 -  ”The agenda of the [Parliament] session number (2) Thursday 2 July 2015:  Sixth: The second reading of the draft Islamic Banking Act. ( Finance Committee , the Committee of Religious Endowments and Religious Affairs , the Legal Committee ), (16 articles).“  so we have the second reading of the Islamic Banking Act and meetings back to back!  one session on the 1st and one on the 2nd.  *hallelujah*.
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Aggiedad77 - The news is full of good information IMO…economic recovery action, word of IMF loans, bonds both domestic and international…that has to mean a decent credit rating in the works I would think… strong work by the COM on a draft money-laundering law…turn this loose on Parliament ASAP.
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Millionday - Article Quote:  “House Speaker Salim al-Jubouri detect the resumption of the three presidencies meeting next week…the meeting will engage the head of the Supreme Judicial Council to turn the meeting the name of the three presidencies to the three powers’, adding that’ meeting will focus on finding consensus on certain paragraphs of broken laws because of political differences.”   THE THREE PRESIDENTS HAVE THAT RIGHT — SO THEY WILL BE ADDRESSING THE IMPORTANT LAWS THIS WEEK…THEY CAN PUSH THEM THROUGH…THIS IS GREAT NEWS.  [so basically the 3 presidents don't need to wait on parliament to vote the laws through?]   THEY HAVE THE RIGHT TO USE EXECUTIVE ORDER FOR THE GOOD OF THE COUNTRY.
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CURRENCY CODE SELL BUY

US dollar USD 1166.000 1164.000

CURRENCY CODE SELL BUY
US dollar USD 1166.000 1164.000
Euro EUR 1304.637 1303.985
British pound GBP 1832.719 1831.802
Canadian dollar CAD —- —-
Swiss franc CHF 1253.494 1252.867
Swedish krona SEK 141.524 141.453
Norwegian krone NOK 148.406 148.332
Danish krone DKK 174.876 174.788
Japanese yen JPY 9.522 9.517
Special
Drawing Rights
SDR 1639.851 1639.031

Indicative rates – 07.01.2015

http://www.cbi.iq/

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Frank26 - [...info about the BONDS was exciting because I know if they are selling them with a new rate it won't be long before they will have to show the world.  The intel…The logic of The Bonds is re-assuring about DRS [Dr. Shabibi] MR [Monetary Reform] in progress.  DRS is showing a commitment for July to show us many congruent steps.  The Lava Flow is a long train running.  The Bonds are a car of this train.  Very close to…The Caboose.
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Millionday - Article quote:  “Center Brief published import and export text instructions, approved by the Committee on Economic Affairs in the Council of Ministers.“  IT IS THE ORDERS AND FORMAL INSTRUCTIONS FOR IMPORT/EXPORT FOR IRAQ – IN OTHER WORDS — GLOBAL TRADE.   CBI SAYS THEY HAVE ALL MONEY READY AND ABADI HAS CALLED FOR ALL LEGISLATION TO BE PUT IN PLACE TO GO TO A MARKET ECONOMY IN INK. IMHO — WE ARE CLOSE.
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Poppy3 - INFORMATION IS TELLING US ALL THAT LIGHTNING IS ABOUT TO STRIKE.    ABADI PROMISED PEOPLE WOULD START GETTING PAID AND TO JUST BEAR WITH HIM AND THE ADMINISTRATION TILL JUNE AND THINGS WOULD GREATLY IMPROVE. MORE BUYING POWER AND THE PEOPLE ESPECIALLY THE WIDOW AND WAR VETERANS THAT HAVE SACRIFICED.  IN COMPLETING THESE OBLIGATION HE HAS TO COMPLETE REFORM AND THAT IS WHAT WILL GET US PAID AS WELL. ALL ARE GOING TO BENEFIT FROM THEIR EFFORTS SINCE HE HAS TAKEN OFFICE.  BIG CHANGES ARE TAKING PLACE AS THE NEWS TELLS US. IF YOUR NOT EXCITED AND ON FIRE THEN YOUR WOOD MUST BE WET.
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Dinar Afternoon Drive Call!!

Info w/BGG – from 6/30

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

Smart phone user link – Click here

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Hub - [I will say this, up until 2010 Banks were selling the Dinar. Then out of nowhere they stopped and called it a scam. Interesting change of events...hmmmmmm.]  the truth is it can not be a scam, it is Iraqi currency, it could be a fraud, but the whole of Iraq depends on this currency to operate their economy at some point, sooner than later.
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BGG - in fact, you can pretty much figure out how much they are taking off the streets by checking the numbers – and project it out a few days/weeks – they can pull TRILLIONS of Dinar out of circulation. That is a BIG MOVE.   I have insisted (for a long time) Iraq had no more than 40 Trillion (EVER) in circulation. They have recently admitted as much… but if they were able to extract 10 Trillion over some short period of time – it could make a big difference – in fact, I doubt they have 25 Trillion surviving and in circulation.  [post 2 of 2]

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Millionday - Article quote:  “Dr. Sadeq al-Shammari during the annual meeting of the Islamic National Bank Islamic banks…noting that the bank was able to raise its capital to 251 billion dinars based on the directives of the Central Bank of Iraq.”  IRAQ IS WORKING ON PLACING LEGISLATION THAT COMPLIMENTS THEIR PLANS OF REFORM…THIS IS THE MOVE TO THE ISLAMIC BANKING LAWS…INTERNATIONAL BANKING WILL BE THE ENTIRE CONCEPT OBVIOUSLY.   THIS IS THE MEETING AND THE PLAN — NOW THEY HAVE CALLED FOR ALL OF THE LEGISLATION TO MOVE FORWARD WITH REFORMS.  ALL REFORMS COMPLIMENT EACH OTHER SO ALL REFORMS WILL HAVE TO BE DONE AT ONCE.  [if international banking is utilized would they have to have an international recognized currency?]  THEY WOULD HAVE TO BE RECOGNIZED INTERNATIONALLY.  [Sure smells of Basel 3 compliance to me!]  I AGREE.
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Check out the Dinar Corp 120+Max – it’s EQUITY!!

Commercial Solicitation

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BGG - [can you explain why the auctions are so important now? why the high sales numbers have significance?]   a number of ways – a number of times – they have tried to come up with a method to take as much of the 000 notes off the streets PRIOR to a shift in value… Obviously – to make it cheaper in the long run (for the CBI)…each time – only to be thwarted by some political agenda not common to ours (and the people).  [so this is the CBI allowing these high volumes? to try to correct the situation?]  recently - we have speculated – these large auctions are doing two things…1) helping to stabilize the current exchange rate…2) extracting the big notes out of circulation using USD to do it (instead of more expensive “post-RV” currency)… and there may be a significant side-benefit (removing some big notes)…  [post 1 of 2....stay tuned]
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Hub - think of this, when Iraq opens all the construction, military, and other contracts they have in place, can they do it at 1166 figure. NO, their currency is not a tradable internationally accepted money at this time. Can you deal in dinar, no, we bought it through currency brokers, bankers, etc. but try to use it. you cant even take it to the bank and do anything with it. what does it need to go international? a value and to be recognized by the worldso all that to say this…i think all these articles and specially the two or three that say they need to value their money means we are right there.
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BGG - [If I were an Iraq citizen and my neighbor Kuwait was rich because their currency was at 4 and mine was at 1166, I would be throwing a fit by now.  Cant the people and government see the huge disparity between the 2 countries and do they not realize the problem.]  …there was word getting out of Baghdad over the last couple of weeks about demonstrations brewing over the exchange rate of the Dinar…they have been following this as we have.  Maybe not as closely as we have - but – expecting something to happen…they are getting restless. In fact, this recent “weakening” of the Dinar nearly got something going Abadi couldn’t handle…
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home7

Iraqi Dinar/Dollar auction 06-30-15

Currency Auctions Announcement No. (2985 – the most recent listing)

This daily currency auction was held in the Central Bank of Iraq on the 06-30-2015

The results were as follows:

DETAILS NOTES
Number of banks 25
Number of remittance companies 6
Auction price selling dinar / US$ 1166
Auction price buying dinar / US$ —–
Amount sold at auction price (US$) 245,738,928
Amount purchased at Auction price (US$) —–
Total offers for buying (US$) 245,738,928
Total offers for selling (US$) —–

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

BGG Notes: 

Another HUGE auction day – big auctions (currently) are good… just a couple of weeks ago we speculated they could make a big dent in their outstanding currency and take a lot of three zero notes out of circulation “on the cheap” using USD. 

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Poppy3 - FOR THOSE WHOM DONT UNDERSTAND THE DIFFERENCE BETWEEN BEING BROKE OR BEING OUT OF MONEY.  OUT OF OPERATIONAL MONEY IS IRAQ’S DESPERATION THEY ARE OUT OF OPERATIONAL CAPITAL ( CASH FLOW PROBLEM ) DOESNT MEAN THEY ARE BROKE WHEN IN FACT THEY ARE AND MAY BE THE RICHEST COUNTRY IN THE WORLD.  ESPECIALLY FOR THEIR SIZE BUT THEY HAVE ASSETS TO BURN AND BELIEVE ME IN THEIR SITUATION TODAY THEY ARE BURNING MILLIONS A DAY WHILE TRYING TO COMPLETE ALL THE REQUIREMENTS THEY MUST MEET BEFORE THEY CAN GO GLOBAL. WHEN THEY COMPLETE THEIR REQUIREMENT LAID OUT BY THE IMF, WORLD BANK, UNITED NATIONS I ASSURE YOU WE WILL IMMEDIATELY WILL SEE A RATE.  
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OOTW - [IF TARRIFS ROLE OUT AUG 1, DOESNT IRAQ NEED A RATE BETTER THAN 1166?]   ALL I CAN SAY IS THAT IN THE “50/100K” ARTICLES QUOTING SALEH, HE SAID THAT THE RESERVES SUPPORT A “DOUBLE” ING OF VALUE OF THE DINAR..THE RESERVES SUPPORT THIS TWICE OVER…AND HE SAID THAT WE WOULD SEE THE VALUE OF THE DINAR “DOUBLE” TO OFF SET THE TARIFFS…WHAT REALLY WILL HAPPEN, I DONT KNOW.   WE DON’T KNOW FOR SURE WHEN SALEH SAYS WE HAVE DOUBLE THE RESERVES TO BACK THE CURRENCY HOW / IF THAT WILL APPLY TO A RATE…
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Enorrste - [You... have spoken before about how large investors will possibly get on board once they see it beginning to trend. So do we picture them as providing the momentum to keep it pushing higher? I personally believe that once the exchange rate regime is changed to a free float mechanism that there will be significant interest from the financial community in the dinar.  At this point it is not tradable on Forex or any other electronic media.  But once it becomes internationally tradable then speculators will begin to look at it .  When they do so they will see that the reserves of Iraq are huge in relation to the value of the money supply.  Then, just as they would buy up an undervalued stock, they will begin to buy up an undervalued currency.  One thing will lead to another as the ticker begins to move upward, and interest will grow and grow until it overwhelms the system.  That is how I see it.
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Sunday Afternoon Dinar Call!!

w/Live Q & A – from 6/28

 Dial-in # 760-569-7699 pin# 570743

Smart phone user link – Click here

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Poppy3 - GREECE NOT HOLDING ANYTHING IN IRAQ UP PERIOD…
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Already Blessed - [We definitely don't know for sure if the Greece situation affects in anyway the RV...]   OUR INFORMATION IS THAT GREECE IS DEFINITELY AFFECTING THE RV BEING RELEASED TO THE PUBLIC AS IT WOULD BE A FIASCO IF GREECE DEFAULTS AT THE SAME TIME.  I DON’T KNOW THE PLAN FOR RV IF GREECE DEFAULTS.
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Millionday - JULY 1ST — FIRST SESSION FOR IMPORTANT LAW – IMF MEETING ON IRAQ`S MONEY—JULY IS THE HUGE HUGE SHOPPING INTERNATIONAL MEETING — HUGE  [Do you still think they have a date they are committed to to get this done?]  I THINK THEY HAVE HAD A DATE FOR THE WHOLE TIME – WE JUST DONT KNOW WHAT IT IS SO WE WATCH WHAT THEY DO IN INK…WHO MAKES A PLAN OF CHANGE LIKE THIS WITH NO DATE?
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My Ladies - I WANT TO BE CLEAR THAT WE ARE IN NO WAY DRAWING A STRAIGHT LINE FROM GREECE OR IRAN TO IRAQ AND THE DINAR.  WE DO NOT THINK THAT GREECE OR IRAN IS HOLDING UP THE TRADING OF THE DINAR.  WE KNOW THAT A NEW BANKING SYSTEM IS COMING IN, WE KNOW THAT THE SDR MODEL IS COMING TO PASS, AND WE KNOW THAT WITH ALL THE CHANGES THAT ARE HAPPENING THAT IRAQ WILL HAVE TO CHANGE TOO.  IRAQ WILL BE REACTIONARY TO THE ENTIRE BANKING SYSTEM AND IMF MONETARY REFORMS. AND THEY WILL REACT REGARDLESS OF WHAT IS GOING ON IN THE COUNTRY WHEN THE TIME COMES.
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home7

Iraqi Dinar/Dollar auction 06-29-15

Currency Auctions Announcement No. (2984 – the most recent listing)

This daily currency auction was held in the Central Bank of Iraq on the 06-29-2015

The results were as follows:

DETAILS NOTES
Number of banks 22
Number of remittance companies 2
Auction price selling dinar / US$ 1166
Auction price buying dinar / US$ —–
Amount sold at auction price (US$) 290,914,740
Amount purchased at Auction price (US$) —–
Total offers for buying (US$) 290,914,740
Total offers for selling (US$) —–

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

BGG Notes: 

Another HUGE auction day – big auctions (currently) are good… just a couple of weeks ago we speculated they could make a big dent in their outstanding currency and take a lot of three zero notes out of circulation “on the cheap” using USD. 

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Mnt Goat - …there is another version of HCL too that Kurdistan needs implemented.  It is mainly to address the sale of independent oil from Kurdistan to other countries beyond the Badgdad quotas set by the government to meet their budget requirements. This is an ongoing issue with the Kurds and they need this resolved.  Could this hold up the payments of the oil revenues to the citizens? Sure it can and may be the reason why they have not yet paid them. Could this hold up the RV? Sure it can since the USA wants good faith and must see these payments happen before they feel HCL is fully implemented.  [post 2 of 2]
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Aggiedad77 - Article:   “Economic adviser to the servants, the central bank must find a realistic price for the price of the dinar exchange Intasp with oil prices“  I so enjoy reading things when Dr.S [Dr. Shabibi] and Dr. Saleh appear to be doing things in tandem…a coordinated effort of sorts it would seem…let them crow because they know what is coming…aligning the price of the dinar with oil, maintaining stability to ensure a smooth progression of the MR [Monetary Reform].  They understand what it will take to fully see the original dream for this currency to once again thrive.  The politicians have not a clue to its true inner workings and thus need to stand clear and watch and be amazed at the end result for Iraq and the world.
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Mnt Goat - I want to talk about these…international MasterCard transactions once again that seem to be the basis for the RV from some…don’t expect any RV even if these MC cards go live internationally. The Mastercards are tied to FIXED rates in a database. These rates are for government programs and FIXED rates and not tied to the floating currency exchanges in any way or fashion… these MASTERCARD events are for the SMART cards and not the “National” Cards. The “National” cards are NOT for these government programs such as retirement, salaries, pensions, food program, etc.  The “National” cards are mainly for the oil revenues distribution sharing to the citizens. YES – if you are thinking HCL you are correct. Remember these payments were supposed to begin in a June – July timeframe. They fully plan to execute their plan on time to distribute these funds…they have the full month of July yet to make good on their promise to the people. I fully expect this event to happen and hear news of it very soon.  [post 1 of 2....stay tuned]
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CURRENCY CODE SELL BUY

US dollar USD 1166.000 1164.000

CURRENCY CODE SELL BUY
US dollar USD 1166.000 1164.000
Euro EUR 1306.620 1305.966
British pound GBP 1831.903 1830.987
Canadian dollar CAD 944.359 943.887
Swiss franc CHF 1241.350 1240.729
Swedish krona SEK 141.577 141.506
Norwegian krone NOK 149.166 149.091
Danish krone DKK 175.154 175.066
Japanese yen JPY 9.413 9.408
Special
Drawing Rights
SDR 1639.291 1638.471

Indicative rates – 06.28.2015

http://www.cbi.iq/

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Enorrste - Article:  “The central bank’s “Tomorrow Press:” the project to delete the zeros will be applied beginning of the year 2017“   This is an important article because it comes directly from the mouth of the head of the CBI.  Furthermore, he is stating that he “expects” the beginning of the removal of the large notes to begin in early 2017.  By stating this in this way, Allaq has left the door open a little bit.  As investors we have come to learn that this is a process that will begin with the change in the exchange rate regime from a fixed rate to a floating rate for the currency.  This is essential PRIOR to the beginning on the removal of the large notes.  Therefore, we can look with confidence for a change in the exchange rate regime within the next several months, in my opinion.  Then, according to the way I understand Allaq, he is allowing about a year or so for the value of the dinar to rise to a point at which the “beginning” of the removal of the large notes will take place.  By early 2017 it will not surprise me to see the rate down to 100 or 200 to 1 for the dinar.
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Mnt Goat - …there is another version of HCL too that Kurdistan needs implemented.  It is mainly to address the sale of independent oil from Kurdistan to other countries beyond the Badgdad quotas set by the government to meet their budget requirements. This is an ongoing issue with the Kurds and they need this resolved.  Could this hold up the payments of the oil revenues to the citizens? Sure it can and may be the reason why they have not yet paid them. Could this hold up the RV? Sure it can since the USA wants good faith and must see these payments happen before they feel HCL is fully implemented.  [post 2 of 2]
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Check out the Dinar Corp 120+Max – it’s EQUITY!!

Commercial Solicitation

______________________________________________________________

Mnt Goat - I want to talk about these…international MasterCard transactions once again that seem to be the basis for the RV from some…don’t expect any RV even if these MC cards go live internationally. The Mastercards are tied to FIXED rates in a database. These rates are for government programs and FIXED rates and not tied to the floating currency exchanges in any way or fashion… these MASTERCARD events are for the SMART cards and not the “National” Cards. The “National” cards are NOT for these government programs such as retirement, salaries, pensions, food program, etc.  The “National” cards are mainly for the oil revenues distribution sharing to the citizens. YES – if you are thinking HCL you are correct. Remember these payments were supposed to begin in a June – July timeframe. They fully plan to execute their plan on time to distribute these funds…they have the full month of July yet to make good on their promise to the people. I fully expect this event to happen and hear news of it very soon.  [post 1 of 2....stay tuned]
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SteveI - Topic: “Japan calls for Iraq to pay its dues working in the field of energy“  You will start seeing more of these demands in the near future. Iraq is under tremendous pressure to get this done (value that is) and start moving their country forward like planned for years.
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Mnt Goat - Just the past week we read articles telling us about sending charges of TERRORISM and GENOCIDE to the international court of the Hague. I have told you many times there will be no RV until Maliki and his goons are gone and out of the any influence in Iraqi politics. So all is good in the news. Iraq is moving forward with the new laws. They are moving ISIS out of Iraq. Deals are being made to move Iranian influence out of Iraq too.  I believe Erbil is in fact all completed and we are just now waiting for the final votes on the many laws and the announcement of them to us. I suspect this could happen in the next couple weeks. They know we are watching for these events and so they try to hide them from us since they know this is PART of the key to triggering the RV.  [post 2 of 2]
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Millionday News Time Chat 6-27-15 

Thanks to DinarRecaps.com for posting Round Table with Millionday!!

Millionday: It announced that Iraqi Airways, said on Saturday that all airlines operating in Iraq globally registered, and to be agreed with them according to the most important service standards, and while confirming that the airline (Fly Baghdad) will enter the list of companies that contracted, the Committee on Parliamentary Services confirmed that it touched a good change the performance of the Ministry of Transport on many of the services provided both in the airlines or the airport in general.
He said flags Iraqi Airways director Akram coffee in an interview with the (long-Presse), said that “all airlines operating in Iraq registered worldwide,” noting that “the first issue we focus on in contracted services is the principle.”

Millionday: WHOOOPOW
Millionday: NOTE—-IRAQI AIRLINES ARE GOING INTERNATIONAL
Millionday: NOTE — WOULD HAVE WALK RIGHT BY — TRAVELEX
Millionday: NOTE — THIS IS HUGE HUGE REVENUES
Millionday: AND PART OF A MARKET ECONOMY IMO

Millionday: He and coffee, that “all the services provided by these companies for travelers follow-up by a competent cadres of Iraqi Airways,” ruling out “the adoption of a commercial contract or agreement with the airline companies are not licensed.”
The coffee, that “registered airlines in Iraq, ranging from four to five companies, such as Company (Nasser and Zagros and Fly Dubai and soon Fly Baghdad), and these are all companies operating agreement with Iraqi Airways,” pointing out that “the work is in accordance with the trade agreement, according to Iraqi civil aviation law. ”
He went on to coffee, that “the agreement with these companies by taking into account the issue of profit, service and cleanliness provided by them and regularity ratio airline schedules and bookings, in addition to those that need to be modern aircraft.”

Millionday: NOTE — THEY HAVE TO BE INTERNATIONAL COMPLIANT AS WELL— MODERN ETC

Millionday: WHOOOPOW

Millionday: For his part, he told the parliamentary committee services by Tawfiq al-Kaabi, said, his committee “asked the transport minister to come to Parliament, has been sent agent and the Committee of the ministry, in order to travel the minister,” adding, “it was talking about a lot of things that concern the issue of transport and service companies Introduction “.

He explained Kaabi in an interview with the (long-Presse), “as we called the need to interest a traveler and overcome all the obstacles and on eating submitted and hospitality and other services, however we have not received any complaint concerning the airlines and other services to the airport, because we scrutinize any information up to us, though we had Many of the recommendations worked out by the Ministry of Transport.

Millionday: NOTE — THIS IS A VERY PROSPEROUS INDUSTRY

~~~

http://www.dinarupdates.com/showthread.php?15663-Millionday-Roundtable-6-24-15
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Mnt Goat - There is…disinformation being spread concerning that the saving of the Greece economy and Iranian deals are holding up the RV.  Really?  I can assure you these other events are all mostly unrelated and not the reason for any hold up in revaluing the Iraqi dinar. No – the USA is not now holding it up again!  Ramadan is now in progress…Ramadan continues to July 17th in Iraq and it will have little impact as to whether the RV happens or not.  We still see parliament meeting and in fact they just announced this past week they intent to schedule a session on this coming Wednesday and vote on a “package” of 150 laws…they must implement them together since one can not work without the others.  Another connection is the Justice reforms and how they fully intend to prosecute these corrupt leaders from the past Maliki administration…  [post 1 of 2....stay tuned]
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BGG - [QUESTION IS WHEN ARE THEY ROLLING IN THESE 50'S?]   IMHO… the original version explicitly said “category of 50,000″ – NOT a 50k note per se…which means (loosely) – a category WORTH what a 50k note would be worth…IMHO…further – it is very interesting the auctions are a high as they are right now…they have stabilized the exchange (to some extent) and are getting big notes off the street using USD (translates to VERY CHEAP)…right now - if this goes on much longer – they will be in an ideal position to execute some kind of move - (all IMHO).
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tman23 - The FLOAT that is spoken of by some is NOT practical for a developing country…  AND INVESTORS…DO NOT LIKE IT! THE QUESTION IS WHAT DID JABOURI ADD TO THE INVESTMENT LAW THAT EUROPE RECOMMENDED AS A REQUIREMENT FOR THEM TO INVEST!
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Millionday News Time Chat 6-26-15

Welcome to DinarUpdates.com & News Time with Millionday!!

Millionday: Finance Minister Hoshyar Zebari, Wednesday, that the government will take a series of reform measures of the economy in the number of facilities to avoid wastage and the rationalization of expenditure.

Millionday: NOTE — REFORMS OF FINANCIAL EXPENDITURES –

Millionday: According to a statement of financial received “eye Iraq News,” a copy of it, that “Zebari met today with a delegation from the Central Bank and the Iraq Programme Director Robert existence and the World Bank team of experts and specialists in the economy and implementation of development programs to provide a loan to Iraq for humanitarian and development aid proposed.”

Millionday: NOTE — ECONOMIC REFORMS — CBI-WORLD BANK–SPECIALISTS-ETC ALL FOR IMPLEMENTATION OF DEVELOPMENT—–WHOOOOPOW

~~~
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Aggiedad77 - I believe in more ways than one DrS [Shabibi] is crowing big time, himself and through his protege Dr. Saleh…together they understand the MR…they understand how the CBI truly must be able to function in order to maintain economic stability and the lowest of inflation rates.  Their guidance will keep Iraq on the straight and narrow through all the political fog that is blowing their way at this time.  The noise from the Finance Committee continues to be just that, noise…put your ear plugs in….they don’t seem to want to give up easily…What they have going against them…and what Iraq has going for it…is the knowledge that Dr.S understands what remains to be done to complete the process that he started years ago…it’s coming…the BEST is yet to come.
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Poppy3 - [ISIS IS STILL HOLDING DOWN 1/3 OF IRAQ.]  BULL MEDIA LIES, SORRY JUST NOT TRUE PERIOD — AND THAT FROM COMMANDERS ON THE GROUND IN IRAQ. 
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My Ladies - THIS IS RIGHT UPON US NOW AND IRAQ WILL REACT TO ALL THE PROGRESS AND CHANGE THAT’S COMING.  [we still leaning towards July for the banking system to go live as a possible month for the repricing?]  YES I THINK WE ARE.  …I WILL BE DUMB FOUNDED IF IRAQ GETS A CREDIT RATING WITH OUT THE DINAR TRADING FREELY.  GET EXCITED BUT I’M TALKING ABOUT MONEY MOVING GLOBALLY NOT NECESSARILY THE DINAR TRADING…BUT I AM HOPEFUL THE DINAR WILL TRADE IN JULY.

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Millionday Round Table Chat (mid-day) 6-26-15 

Thanks to DinarRecaps.com for posting Round Table with Millionday!!

Millionday: Chaired by Minister of Planning and Salman al-Jumaili of the meeting of the first working group for the implementation of private sector development strategy in Iraq.

The minister expressed at the outset of the meeting expressed his happiness to embrace the Ministry of Planning for this important meeting, which was the development and implementation of private sector development strategy, stressing the need for a base incorrect information in order to enable us to reach to achieve the desired goals.

Millionday: THE FIRST GROUP OF THE PRIVATE SECTOR IMPLEMENTATION

Millionday: He noted that the Central Bureau of Statistics (NBS), which is one of the setups statistical prestigious in the field of statistics will be very helpful and put all of his experience and the potential for the implementation of this vital survey, which represents the first and right step on the road to the adoption of private sector development strategy and enable it to fulfill its role of development required.

Millionday: He pointed out that the government program much focused on private sector development and the need to translate this interest into the actions of figures .. pointing out that these figures reflect estimated positively on the implementation of this survey, which is one of the significant achievements carried out by the Ministry of Planning, or those that are being implemented.
He stressed Jumaili that the Ministry of Planning and all its departments and formations and cadres will be ripe for the success of this project because we believe that development without the presence of private sector development will not be correct

Millionday: NOTE — THE GOV PROGRAM– THE STRATEGIC FRAMEWORK — AND THE REFORMS ARE FOCUSED–ON THE PRIVATE SECTOR –

Millionday: calling on the working group to make all of its potential for the success of this important project was discussed during the meeting data provided by the Central Bureau of Statistics relating to the industrial sector and the distribution of tasks and to clarify the important role of entities that represent and involve the private sector in the collection of data and give the Ministry of Planning and the desired role in raising community awareness level of the process and clarify the role of the private sector in the development process through the website of the Ministry and the media.

Millionday: NOTE — THE DEVELOPMENT WITHOUT THE PRIVATE SECTOR WILL NOT WORK –

~~~

http://www.dinarupdates.com/showthread.php?15663-Millionday-Roundtable-6-24-15
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Poppy3 - …REMEMBER ABADI STATED BEAR WITH THEM TILL JUNE? MANY PREPARATIONS HAVE BEEN COMPLETED THIS MONTH…THE TARIFFS WILL NOT PRODUCE ANY $$$$$ AT THIS LOW RATE AND THE BONDS WILL NOT SELL UNLESS ASSIGNED A RATE AND HAVING A BACKER THAT HAS A CREDIT RATING TO WITHSTAND...THEY DONT HAVE EITHER YET.
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Kaperoni - Article quote:   “there are more than 150 projects whose law had been read a second reading or what has become ready for a vote will go through the legislative term, which will begin next week,”   Now were talking!  Pass them laws in a basket.
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wmawhite - Article quote:  “International Criminal Court’s decision to refer the Iraqi Prime Minister Nuri al-Maliki and his aides to court on charges of genocide“   With Iraq wanting to join the world community and to change its image, they will not be able to ignore this. The PM and GOI will need to cooperate with this.
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Court decision: Nuri al-Maliki and his aides to court on charges of genocide

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International Criminal Court’s decision to refer the Iraqi Prime Minister Nuri al-Maliki and his aides to court on charges of genocide:

the International Criminal Court decided to refer the Prime Minister Nuri al-Maliki DONC and a group of his senior aides to court on charges of genocide. Mr. Mohammed Al-Kaabi spokesman Court for the Middle East said that one of the associates of al-Maliki who Torteurahalthm to court Gen. Farouk al-Araji, director of al-Maliki’s military office and Lt. Gen. Ali Ghaidan, commander of ground forces and Saadoun al-Dulaimi, the defense minister and the agency, Adnan al-Asadi senior agent Interior Ministry and intelligence chief Zuhair Gharbaoui team Qassim Atta, director of operations at the intelligence service and the team called Hgati head of the anti-terrorism device. He revealed that the Court now has complete files crimes committed by al-Maliki and his aides, including genocide in Anbar and Kirkuk and the blatant violation of human rights and to follow the brutal methods of torture and violation of freedoms of citizens and contrary to the Geneva Conventions and the Charter of the United Nations and international law…

Aliraqnews.com

BGG Notes:

BGG: It appears to me, since the upper leadership of the SLC can’t manage to rid Iraq of Maliki the ICC (International Criminal Courts) is going ahead with doing it for them…

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

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tman23 - The citizens in Iraq are not losing confidence, THEY HAVE LOST IT !!  Citizens of Iraq are lacking courage, and just as proven by military recruiting at a LOW POINT.  The one FACT and it is written by the IMF and other monetray study groups…… A HIGH VALUED CURRENCY brings/delivers CONFIDENCE, COURAGE, and HONOR to the people…….  Take note HIGH VALUE !!…..   Iraq needs to deliver to the citizens, they need to open their market economy. The market economy is not going to be developed overnight and so that being said, it is not a quick solution or even near term. The taxes will bring money quickly but that takes from the pockets of citizens who already are poor and lack confidence……  We are not waiting for 2017…We are not waiting for 2016….We are not waiting for September……The time is NOW !!   We are waiting in the moment !!  They are planning for the moment !!  They need it NOW !!
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Aggiedad77 - Article:  “The central bank’s “Tomorrow Press:”  the project to delete the zeros will be applied beginning of the year 2017“   This kind of slowdown does not make much sense…but study the words carefully, I can take this article to mean that the “process” of removal of the 000′s has begun and will be completed in 2017…they have told us before it could be a 2 year process…they speak of making the Iraqi currency a competitor of foreign currency…then do it now…why wait…today makes more sense than 2 years from now…AND…don’t forget the GREEN light that the CBI was given earlier this year…
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Check out the Dinar Corp 120+Max – it’s EQUITY!!

Commercial Solicitation

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tman23 - When I say June is the end of the road…that doesn’t mean you will see a RV on July 1st… BUT it would have to show by the 15th of July… June is the end of the road… They have to have the decision made… IMO they do!  I expect it!  I believe everything needed will happen all at one time … Maliki issue included!
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BGG - It appears to me, since the upper leadership of the SLC can’t manage to rid Iraq of Maliki the ICC (International Criminal Courts) is going ahead with doing it for them.  Major News feeds starting to carry this piece.  won’t that take a lot of time to complete.  as an associated issue – “with his top aides” MEANS Ali al-Allaq is TOAST…no need to remove him when the ICC is on the way…AND Fuad Massoum came out today talking about replacing him anyway.  As Allaq was Maliki’s Sec Gen of his CoM for 7-8 years I cannot imagine a scenario he isn’t scorched with Maliki in this one.   solves our major obstacle… so you see – I could care less what Allaq has to say about starting the “project” in 2017…he’s a goneeeeeeeeeeeeer.
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Millionday SPECIAL News Time Chat 6-26-15 Part 2 of 2

Thanks to DinarRecaps.com for posting News Time with Millionday!!

THE OBSERVER – http://dinarupdates.com/observer/

THE BLOG – Dinar Daily NEWS Blog – http://www.dinarupdates.com/blog/

Millionday: It is noteworthy that this festival is the first event in Baghdad on the real shopping level and the level of events that will take place in all cultural fields and technical and strategic level of children, youth and all age groups

Millionday: NOW LETS SEE IF WE CAN EVEN BEGIN TO SEE THE PROGRESS THAT IRAQ HAS MADE– WHOOOPOW

cjquade54: what do they mean by next session – next meeting or next series of meetings?

Millionday: NEXT LEGISLATIVE SESSION

~~~

http://www.dinarupdates.com/showthread.php?15670-The-Dinar-Daily-Friday-June-26-2015
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firefly - [new guru]   …THE IMF AND WORLD BANK ARE WORKING FEVERISHLY WITH THE IRAQ CENTRAL BANK TO GET IT ART. 8 COMPLIANT AND INTERNATIONALLY USED – WE COULD BE SEEING SOMETHING SOONER THAN LATER. DON’T FORGET CITI BANK IS THERE, MIDDLE EASTERN BANKS ARE ALSO IN IRAQ AND THE CBI JUST ANNOUNCED THAT IT ARRANGED FOR A CURRENCY EXCHANGE RATE WITH BANKS UNION BETWEEN USD-IQD. THE IRAQI GOV. SAID THEY WOULD ANNOUNCE THE CREDIT RATING IN JULY AND THEY ARE ABOUT TO ISSUE INTERNATIONAL BONDS.
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My Ladies - THE ZEROS, ON OR OFF THE CURRENCY DOES NOT MATTER TO US, THE ECONOMIC OVER HAUL THEY NEED TO GO THROUGH DOES NOT EFFECT THE EXCHANGE RATE.  IRAQ NEEDS TO COME OUT OF ISOLATION AS THEY HAVE SAID THEMSELVES AND THEY NEED TO CONNECT TO THE GLOBE.  AND THE TIME FOR THAT IS RIGHT UPON US…JUST LOOK AROUND…IT’S UNDENIABLE AND IT’S EVERY WHERE…NOTHING IRAQ HAS GOING ON IS AN INDICATOR OR FACTOR FOR ANYTHING.  THE TRAIN IS ON THE RIGHT TRACK!  SO PLEASE DO NOT GET DISCOURAGED WHEN YOU SEE DELAY ARTICLES FROM IRAQ, OR DATES INTO 2017…I SEE THIS TRAIN COMING DOWN THE TRACK VERY, VERY FAST….AND IT WILL SCOOP IRAQ UP WITH IT AND BRING IT TO THE GLOBAL STAGE…   [post 2 of 2]
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home7

Iraqi Dinar/Dollar auction 06-25-15

Currency Auctions Announcement No. (2981 – the most recent listing)

This daily currency auction was held in the Central Bank of Iraq on the 06-25-2015

The results were as follows:

DETAILS NOTES
Number of banks 28
Number of remittance companies 2
Auction price selling dinar / US$ 1166
Auction price buying dinar / US$ —–
Amount sold at auction price (US$) 313,613,012
Amount purchased at Auction price (US$) —–
Total offers for buying (US$) 313,613,012
Total offers for selling (US$) —–

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

BGG Notes: 

Another HUGE auction day – big auctions (currently) are good… just a couple of weeks ago we speculated they could make a big dent in their outstanding currency and take a lot of three zero notes out of circulation “on the cheap” using USD. Obviously Alak is “semi-retarded” or fully in Maliki’s pocket… he always starts off in the the wrong direction. It appears someone finally got thru to him… (kind of odd turn after getting his fanny chewed on last weekend). Look for him to get publicly eviscerated again this weekend.

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Aggiedad77 - Article:  “National Investment: amendment of the Investment Law which many privileges to the investor“  The amendments that are being worked into the Investment Law…if approved…will be a boon for investors so the story goes…they have been working on ways to eliminate red tape and push corruption completely to the side…hopefully their plans are coming together to make such actions so…providing protections for investors…and guarantees for both sides, something quite unusual for Iraq…they say to look for this to come to a vote early next session…will be watching for it for sure.
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Millionday SPECIAL News Time Chat 6-26-15 Part 1 of 2

Thanks to DinarRecaps.com for posting News Time with Millionday!!

THE OBSERVER – http://dinarupdates.com/observer/

THE BLOG – Dinar Daily NEWS Blog – http://www.dinarupdates.com/blog/

Millionday: FIRST THING WE HAVE TO LOOK AT EVEN IF SOME OF YOU HAVE SEEN IT — IS THE MALIKI NEWS

Millionday:NOTE — WE DID NOT THINK WE WOULD SEE THIS BUT WHOOPOW

Millionday: Court decision Atahahalh Nuri al-Maliki and his aides to court on charges of genocide

Under section: political Dated: June 25, 2015. International Criminal Court’s decision to refer the Iraqi Prime Minister Nuri al-Maliki and his aides to court on charges of genocide:

~~~

http://www.dinarupdates.com/showthread.php?15670-The-Dinar-Daily-Friday-June-26-2015
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My Ladies - IRAQ HAS VERY MUCH TO DO IN THEIR COUNTRY…THEY HAVE TO BUILD, THEY HAVE TO PRINT NEW CURRENCY, THEY HAVE TO GET ELECTRICITY, THEY HAVE TO ADD NOTES TO THEIR CURRENT CURRENCY THEY HAVE TO GET THE ELECTRONIC BANKING SYSTEM WORKING… (whew) THEY HAVE SO MUCH TO DO STILL. BUT NO MATTER WHAT IS HAPPENING OR NOT HAPPENING IN IRAQ WILL NOT MATTER.  THE ONLY THING THAT WILL MATTER IS THAT IRAQ WILL HAVE THE SAME ABILITY TO CONNECT TO THE NEW BANKING SYSTEM AND WHEN THEY DECIDE TO CROSS BORDERS THEY WILL HAVE TO DO IT ACCORDING TO INTERNATIONAL STANDARDS.  [post 1 of 2....stay tuned]
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Adam Montana - I would appreciate your elaboration on what you think of these three pending issues and what their bearings are on where Iraq is now and where it stands with an HCL...HCA, Article 8 compliant...The GOI gave the CBI the right to finance the private sector and now has approved 1 Trillion dinars to back it and a Credit-Rating.]  HCA is an Agreement, HCL is Law – we want the Law.This has been the most important step for quite some time, and it still is.  1 Trillion is a lot when we’re hoping they increase the value of their dinar… the good  news is they don’t have to use the entire amount. A .10 RV could actually eliminate the need to use most of that amount. This is one reason why I’ve never really worried about article 8 – it’s just not that important. Credit Rating – we’re still waiting for this news, and I wouldn’t be surprised to see it take another 3-6 months. Either way, the credit rating is not going to affect what the CBI does. I t’s good to see Iraq taking that step, but again – not a major issue for us.
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Throwback Thursday

The Exchange Rate of Foreign Currency in Economic Feasibility Studies 

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

Estimate the shadow price of foreign currency:…

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

Read More: http://dinarupdates.com/blog/
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Kaperoni - Iraq has made it clear they want to raise the value of the dinar.  And we know the dinar’s value is not only important to Iraqi’s, but significant to engage with the global economy.  It will rise in value once the circumstances are in place to allow it to do so If we all stop looking for an overnight event, we will be much better off.
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Aggiedad77 - Article quote:  “a member of the Investment Committee and the economy MP Najiba Najib announced that Article 50 of the Budget Law has failed and impacted negatively on the Iraqi dinar.”   One of the most vocal members of the Finance Committee is now admitting that Article 50…the very cap THEY placed on the CBI has FAILED and it has been the NEGATIVE influence on the IQD all along this year. Keep the politicians out of the CBI’s business …these folks may think they know politics but when it comes to banking and high finances…they flounder… Remember they are the ones responsible for putting a budget together and they struggle with that as well…I am sure this will not be the last we hear from the Finance Committee but they have caused enough damage…
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Adam Montana - [What is your opinion on getting the Illusive HCL passed this year ?  Yes,No,Maybe,Or?]  4 months ago I would have said “ABSOLUTELY”.  Now I have to back up and say “Let’s see what happens after Ramadan” - the month of August will tell us what to expect from Iraq in the short term.
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Millionday News Time Chat (evening) 6-24-15 Part 2 of 2

Thanks to DinarRecaps.com for posting News Time with Millionday!!

diagyAAAE: “There are no problems facing the approval of the law”. Awesome!….. “Rep. Nora Albjara had revealed earlier in the L / scales News / amended investment law that requires the involvement of 75% of the Iraqi labor in projects” IMO this means work for Iraqi Citizens

diagyAAAE: what do you think?

Millionday: THIS HAS TO DO WITH IRAQ`S DEVELOPMENT IN CONTRACTS AND YES HUGE FOR THE CITIZENS FINALLY — GOOD POINT HUN

~~~

http://www.dinarupdates.com/showthread.php?15665-Millionday-newstime-june-24-2015
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Breitling - Article [The issuance of three categories of cash in 2017] there are a lot of people in panic mode saying hey are they going to push this off for another 2 years?  Here’s the problem with this…they are already working on it and the indicators that they are working on it and already started are reducing the note count, retiring some of the notes and attacking the dollar within their own market…once they got started putting these projects in order and they started executing them it would take about between 2 to 3 years.  So this article is consistent with that, nothing has changed…It’s one of two categories:  …they are going to change the value of the currency and they start it now or they do in 2017.  I say they are in the process of doing it now…
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Kaperoni - Article quote:  “Iraqi National Business Council revealed on Tuesday for approval of the Cabinet on the proposal of Iraq’s accession to the Asian Investment Bank…”  This is a pretty big deal we are overlooking.  From Wikipedia… “The Asian Infrastructure Investment Bank (AIIB) is an international financial institution proposed by the government of China. The purpose of the multilateral development bank is to provide finance to infrastructure projects in the Asia region.  [2] AIIB is regarded by some as a rival for the IMF, the World Bank and the Asian Development Bank (ADB), [3] which are regarded as dominated by developed countries like the United States. [3] The United Nations has addressed the launch of AIIB as “scaling up financing for sustainable development” [4] for the concern of Global Economic Governance. [5]
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Adam Montana - [What is your opinion on getting the Illusive HCL passed this year ?  Yes,No,Maybe,Or?]  4 months ago I would have said “ABSOLUTELY”.  Now I have to back up and say “Let’s see what happens after Ramadan” - the month of August will tell us what to expect from Iraq in the short term. 
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Check out the Dinar Corp 120+Max – it’s EQUITY!!

Commercial Solicitation

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Kaperoni - Article quote:  “Iraqi National Business Council revealed on Tuesday for approval of the Cabinet on the proposal of Iraq’s accession to the Asian Investment Bank…”  This is a pretty big deal we are overlooking.  From Wikipedia… “The Asian Infrastructure Investment Bank (AIIB) is an international financial institution proposed by the government of China. The purpose of the multilateral development bank is to provide finance to infrastructure projects in the Asia region.  [2] AIIB is regarded by some as a rival for the IMF, the World Bank and the Asian Development Bank (ADB), [3] which are regarded as dominated by developed countries like the United States. [3] The United Nations has addressed the launch of AIIB as “scaling up financing for sustainable development” [4] for the concern of Global Economic Governance. [5]
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Aggiedad77 - Article:   ”The new investment law is ready for vote: raise taxes urgent and vacations for investors“   The new Investment Law is ready for a vote and does not have problems that will keep it from being approved...it raises taxes…and they don’t think it will be problematic to approve…let’s watch what happens…no doubt new and improved investment laws are needed and the cutting of red tape is necessary along with the removal of corruption potential… 
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Adam Montana - Just a short while ago, they were talking about the possibility of 50k+ notes by the end of the year, but that talk fizzled pretty quick. Now there’s this article about smaller notes!  It just goes to show that the articles they pump out don’t mean a thing. When they are ready to make a significant change, it won’t be preempted by relevant news articles. The exact opposite is true!They aren’t going to give any more clues than they absolutely have to, if that…   [post 2 of 2]
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Millionday News Time Chat (evening) 6-24-15 Part 1 of 2

Thanks to DinarRecaps.com for posting News Time with Millionday!!

Millionday: I WANT TO SAY SOMETHING FIRST

Millionday: THE IRAQIS ARE VERY EXCITED OVER THE INTERNET AS YOU CAN IMAGINE — BUT — THERE SEEMS TO BE A PROBLEM WHEN ITS TIME TO PURCHASE LOL

Millionday: Hashemi experiencing domestic market recovery new economic phenomena shopping in line with the evolution in ways to use the World Wide Web, where is the widespread use of the Internet for the owners of various shops activities an opportunity to make profits and gains business by promoting their wares through social networking sites.

It is these phenomena deliver the goods to the home service or what is known as (Dlfre) where Pat can citizen buy he needs from clothing or any other commodity after studying the prices of exhibits shops comic and published on their pages on social networking sites, ranging wages delivery service from 5 to 10 Thousands of dinars.

~~~

http://www.dinarupdates.com/showthread.php?15665-Millionday-newstime-june-24-2015
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Kaperoni - …it would be a great thing if countries could just randomly appreciate the values of their currencies to solve problems. Unfortunately, that is not how it works. IMO, there is a plan.  And that plan is that the dinar will rise to counter inflationary pressure created as Iraq diversifies their economy. As more and more investors come in, more and more investment capital comes in, inflation will begin to set in.  And to counter that the dinar will appreciate in value. All the tools are being put in place..tariffs, bonds, 5 trillion small/med business loans, etc. All designed to kick start the economy, stabilize Iraq, create an investment climate that continues to grow..creating the pressure needed to raise the value of the dinar…from the IMF Article IV Consultation..the Balassa-Samuelson effect – “countries with rapidly expanding economies should tend to have more rapidly appreciating exchange rates.
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Adam Montana - Not much happening in the news lately, and pretty much all of my contacts in Iraq have gone silent this past week… which tells me we’re not going to see any activity during Ramadan, much like past years.  In fact, it’s been a little quiet in the past month as well… – Abadi came in with a bang, got people motivated to work together and make some progress, and they did!  Iraq was on a downhill scream for the first few months, and then… silence.  It’s my suspicion that everyone is resting up, and we’ll see more positive progress after Ramadan.  [post 1 of 2....stay tuned]
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tlm724 - Article:  “The annual increase resources for border ports  there we go, getting ready for the tariffs and lets not forget that on June 16th the minister of commerce had a meeting with the WTO. [See Possible "to do" list in the Dinar Guru Resource Bar on the left of this page]
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Millionday Round Table Chat 6-24-15 Part 2 of 2

Thanks to DinarRecaps.com for posting Round Table with Millionday!!

Millionday: “There was very little trading. The whole objective of the requirement to go public was to get Iraqis interested in share ownership – the process Zain Iraq has undergone really regresses the stock exchange.”

Zain Iraq said it was happy to have complied with its licence terms and looked “forward to the participation of the investment community in one of the most profitable and resilient companies in Iraq”.

Millionday: SO THE ENTIRE PURPOSE IS TO GET IRAQ INTERESTED AND AWARE — HUGE STATEMENT
~~~

http://www.dinarupdates.com/showthread.php?15663-Millionday-Roundtable-6-24-15
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tman23 - TAMINI, THE BUDGET DIRECTOR ON THE FINANCE COMMITTEE ORIGINALLY SAID, IF THEY DIDN’T GET EVERYTHING FINISHED BY JANUARY 1ST 2015, THEY WOULD HAVE TO WAIT UNTIL MARCH……….AROUND THIS TIME FRAME THE GREEN LIGHT BY THE CBI WAS GIVEN…….. REMEMBER, TAMIMI IS NO STRANGER TO THE 3 ZEROS, SHE HAS BEEN IN MEDIA FOR A FEW YEARS WITH COMMENTS……..IMO, SHE IS A MAJOR PLAYER IN THIS CURRENCY REFORM ON THE GOI SIDE OF THINGS…
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wmawhite - [would it make sense that they would have to have a pretty good credit rating to be accepted?]  A credit rating is a sign to the rest of the world of what risk Iraq is when doing business with them.
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Shredd - But for these notes to ease the burden of not have large notes in circulation, that means these notes will not have the role of being coins but rather their large notes.  That will mean the rate will be closer to a buck. Think about the USD, the 100 dollar note is the largest note that has a decent usage in circulation…  Quote:  “…as the bank continues to center to pull the old category of the currency over ten years. ”.  This should also give you peace of mind that the notes we hold will not get discontinued and be useless to us like they did the 50 dinar note. Again, good news folks. We still need to be patient but this amazing return on investment is not an “IF” but a “WHEN”.   [post 2 of 2]
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home7

Iraqi Dinar/Dollar auction 06-24-15

Currency Auctions Announcement No. (2980 – the most recent listing)

This daily currency auction was held in the Central Bank of Iraq on the 06-24-2015

The results were as follows:

DETAILS NOTES
Number of banks 23
Number of remittance companies 2
Auction price selling dinar / US$ 1166
Auction price buying dinar / US$ —–
Amount sold at auction price (US$) 314,141,416
Amount purchased at Auction price (US$) —–
Total offers for buying (US$) 314,141,416
Total offers for selling (US$) —–

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

da58: BGG, did you see the MONSTER auction??

BGG: I’ll be looking at it…

BGG: in a minute.

BGG: huge auctions are good.

pinkadonai1: :) YAY

BGG: they are removing 000 notes cheap.

pinkadonai1: YAY again

BGG: which is what Xxx I speculated might be up before Alak took his brain out and played with it…

da58: “before Alak took his brain out and played with it” – hysterical!! :D
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Kaperoni - Press Release Quote:  “The head of the House of Representatives, Saleem al-Jubouri, Tuesday, that the House of Representatives awaiting the arrival of the oil and gas law, the Council of Ministers in order to read the legislation.”    One thing is for sure..they are making this next session of parliament out to be the “big” one.
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Shredd - Article:  “Central bank: 2017 will see the issuance of new cash categories“  To me, I see this as a good article folks.  This is telling us the projection is the rate will be strong enough in only a year and a half from now to demand the circulation of the 50, 100 and 200 to “ease the burdens” after deleting or removing the three zero notes from circulation. Remember, this is a gradual process and the CBI is revealing more of their plan. This means we should see the rate improve to that point between now and then.  The process of bringing strength to the dinar will take time. Think of it…if the exchange rate was a dime, these notes would be worth 5, 10 and 20 cents. That’s a pretty darn good exchange rate!   [post 1 of 2...stay tuned]
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tman23 - There are 44 foreign embassies in Iraq…25 consulates in Iraq (all in Erbil)… The job of an embassy is to help foreign travelers…the consulates deal with the same and business… 4 consulates were just named for Erbil in the past 7 days…Belgium will be opening it’s embassy in Baghdad and then immediately Erbil consulate… SO… With all these embassies… WHY?  There is a lack of security and terrorism. Who is planning on visiting? And Iraq has 77 embassies to fund in foreign countries.
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Millionday Round Table Chat 6-24-15 

Thanks to DinarRecaps.com for posting Round Table with Millionday!!

Millionday: The head of the House of Representatives, Saleem al-Jubouri, Tuesday, that the House of Representatives awaiting the arrival of the oil and gas law, the Council of Ministers in order to read the legislation. Jubouri said in a press conference attended by “tomorrow Press”,

“The House of Representatives awaiting the arrival of the oil law The gas from the Council of Ministers in order to read the legislation, “noting that” the bilateral meeting that took place yesterday with the Prime Minister Haider al-Abadi discussed the basic legislation, including the oil and gas law. ”

Millionday: NOTE — ANOTHER PRESS CONFERENCE — AND ON HCL — AS WE SEE — THEY ARE LETTING THE CITIZENS KNOW WHAT IS GOING ON — LOVE IT

~~~

http://www.dinarupdates.com/showthread.php?15663-Millionday-Roundtable-6-24-15
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Aggiedad77 - Article:   ”Jubouri: General Amnesty Law came to Parliament“  According to House Speaker Jubouri, Parliament will have in front of it upon its return the Amnesty Law, along with several other important laws that were there when they left on recess, the National Guard Law, Federal Court Law, Law of Parties, Law of Accountability and a host of other issues some of which has been around without resolution for at least 8 years…time to “git ‘er done” folks.
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Frank26 - IMO the bonds totally solve their liquidity problem and these bonds need to be SOLD NOW! They don’t have to wait until Jan 2016 – they need to start selling them in July.  
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Aggiedad77 - Article:  “Deputy: the deletion of zeros from the currency and a national project“  Word of CAUTION here…don’t just read the 2017 date and freak out…this project of the deletion of zeroes is an ongoing part of the MR…trust in this…yes they have said it could take upwards of 2 years to complete…but the lava flow is moving as we speak today…note too they talk of pulling old currency back in over a 10 year period…they are working in a very focused way to make all this happen…working in the face of adversity as there are those from a political standpoint who do not want to see this happen…these speed bumps must be overcome as they keep pushing the flow forward.
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tman23 - I’ll share this but it is not real clear yet……Dubai has been a concern regarding Iraq currency exchange……..  What was said to the US Government about laundering is also a major concern in Dubai…….. It is the exchange of notes and the “knowing” that the notes exchanged are destroyed………..  I can’t get to the “clearer” meaning of what is going down…….But……..The one thing I do get is that why be concerned about destroying the notes at exchange so they do not recirculate……. If I gave you 21.50 usd for a 25k IQD …….and then sent the 25k note back out……what difference would it make unless it was worth way more ??
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Millionday News Time Chat (evening) 6-23-15 Part 2 of 2

Thanks to DinarRecaps.com for posting News Time with Millionday!!

jtank: Awhile back they stated they would pull in all zeros in a two year period and now the above statement– deleted currency zeros will deliberate for Sntn in the local markets, as the bank continues to center to pull the old category of the currency over ten years.

Millionday: YES — BUT THE THING IS — THEY PLAN ON USING SOME OF THE 50S AND SOME OTHER DENOMS THAT WILL BE ABLE TO HOLD UP AND BE USED –

THEY HAVE ACTUALLY DURING MANY OF THESE REPORTS STATED DIFFERENT DENOMINATIONS THAT WILL BE USED IN THE FUTURE THAT ARE NOT EVEN AVAILABLE AT THIS TIME –

THIS IS NOT UNUSUAL AFTER SUCH A HUGE EVENT OR EVEN SUCH A HISTORICAL TIME — THIS IS NOT A SHOCK AND WE HAVE READ ABOUT IT FOR YEARS — SO NO SURPRISE AT ALL

~~~

http://www.dinarupdates.com/showthread.php?15660-Millionday-News-6-23-15
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Kaperoni - it is nice to read that they will honor the larger 3 zero notes for 10 years again.  That should give us plenty of time to watch the dinar rise once it starts to decide where and how we will exchange these notes…for sure the can has been kicked down the road starting back in 2012.  But I believe that if they do issue the larger 50k note, the process is then non-reversible… because once they start reducing the physical note count there is no turning back.  Hopefully I am correct and this project will finally get started so we all can relax and watch Iraq and the dinar prosper.  The dinar float must start well before 2017 (probably early to mid 2016)  in order for the rate to reach a point where a 50, 100, and 200 dinar note would be of use in the market (IMO around .10 cents). 
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Aggiedad77 - Article:  “Why will deteriorate dinar? .. Economists discuss pumping the dollar in the markets, policy“  Some economists say the dinar will deteriorate…some say that it is going to improve…my opinion says that if they can keep the politicians out of the mix that the dinar will see improvement, let the CBI do what they do best which is money management…if there are money launderers in the mix take care of them, point fingers at them, charge them, and get them convicted…same with smugglers…can’t have either…And as far as corruption goes…please turn it over to the Integrity Commission and let them put their detectives on it…just focus on what should be in the best interest for Iraq and what follows from that will prove to be a great thing for the world as well.
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Kaperoni - Article quote:  “…delete the zeros of the Iraqi currency and a national project to feminine Iraqi currency, likely work on the project early in 2017.”   Though hearing 2017 is not good, this is a really good article.  It once again confirms no LOP (a LOP would require all denominations to come out at the same time). It also confirms that the issuance of the 50k will move the process forward to delete the zeros. It also confirms that the rate must rise to at least a point where a 50, 100, and 200 would have usage (which IMO is about .10 cents).   So this is more confirmation that the CBI plans to delete the zeros gradually, raise the value of the dinar, and begin doing so after they reduce the physical note count with the issuance of a 50k note (if they do this at all). [post 1 of 2....stay tuned]
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Millionday News Time Chat (evening) 6-23-15 Part 1 of 2

Thanks to DinarRecaps.com for posting News Time with Millionday!!

Millionday: FIRST LETS TAKE ONE MORE LOOK AT THE IMPORTANCE OF A CREDIT RATING AND ITS USE FOR A COUNTRY –(MUCH DIFFERENT THAN PERSONAL AND BUSINESS)

Millionday: Many countries rely on foreign investors to purchase their debt, and these investors rely heavily on the credit ratings given by the credit rating agencies.

The benefits for a country of a good credit rating include being able to access funds from outside their country, and the possession of a good rating can attract other forms of investment to a country, such as foreign direct investment.

For instance, a company looking to open a factory in a particular country may first look at the country’s credit rating to assess its stability before deciding to invest.

~~~

http://www.dinarupdates.com/showthread.php?15660-Millionday-News-6-23-15
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Frank26 - WHAT IS ON THIS CHECKLIST IN JULY? Me personally, I’d like to stick in my vote:  1 – I want the governor as quickly as possible – only Shabibi.  2 – Bonds with a soluble rate.   3 – The 50 and 100 new currency (don’t confuse the 50K and 100K notes that are a completely different subject…there is no such animal…you’re saying they’re going to replace them but there isn’t any – it’s just the 50 and 100. 4 – Master Cards and Visas and many different kinds of cards  5 – Salaries  6- Lower denom’s  7 - Look the 7th of the 7th of the 7th…is CREDIT RATING.  These are the 7 things for July and it’s not even far-fetched…if it’s really not going to happen this month, may we say forget about it? No, no! Move into the next month because it’s the lava flow…They have no liquidity, therefore, no value and yet they have assets…4 million barrels of oil are produced a day is an insult to an IQD of 1166.  The RATE IS WRONG for what’s happening in Iraq! 
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wmawhite - [can Abadi pull this off without CBI cooperation?]  The CBI carries out monetary policy set by the government…in addition to enhancing and protecting the value of the currency. Two separate missions.
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Frank26 - The governor is about to be put BACK in…Dr. S [Shabibi] is a head of the CBI…and has no intention of stopping it because he put this whole thing together in the first place…Dr. S has done a wonderful job…Security is being done. You would not want Dr. S to raise the value under the condition if the banks were not safe. Dr. S doesn’t want to endanger his banks – they’re going to be extremely important and IMO, he got the banks back that he wanted, IMO.  Security within the governorship of the CBI is the next chapter IMO.  …this is the meat of what’s going on right now. The substance of the governorship of the CBI.   Everybody’s looking at the CBI and now it’s time to look at the leader. GOVERNORSHIP MUST NOW BE SECURED. Iraqi is getting ready for the monetary reform. The pressure is on Abadi – to give us the opportunity to bring forth the true governor of the CBI – the IMF wants this… 
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Millionday News Time Chat (evening) 6-22-15 Part 2 of 2

Thanks to DinarRecaps.com for posting News Time with Millionday!!

Millionday: NOTE — THE ONLY WAY THAT IRAQ HAS TO MOVE FORWARD IS TO SINK OR SWIM — TRANSITION TO A MARKET ECONOMY OR –SINK WITH A CLOSED BORDER THAT PRODUCES A CLOSED ECONOMY — –

Millionday: WHAT WOULD YOU CHOOSE?

puffdragon: Any kind of time frame given MD ?

Millionday: NO TIMEFRAME — BUT THEY MET ALL WEEK ON THE CREDIT RATING FOR IRAQ AND IT HAS NO USE WITHOUT MARKET TRANSITION

~~~

http://www.dinarupdates.com/showthread.php?15657-Millionday-News-6-22-15
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BGG - [Rumor has it, Maliki will be indicted in an international court...?]  according to reports – that is accurate…and I am commenting on reports only.  [If so, could that trigger a replacement in the CBI very soon?]  IMHO – they are parallel events…Does not feel as though one depends on the other.
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tman23 - [can they postpone tariffs again, also how can tariffs be imposed expecting people to pay more without purchasing power?]  They can do anything they want…they are sovereign… The better question is what can they afford to do or not do?  Answer: They can not afford to invest in projects…And as for not doing…They can not afford to stay in the current status quo for another 6 months.
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Millionday - THEY HAVE WORKED HARD TO MAKE SURE THEY CAN GET A HIGH CREDIT RATING BY PAYING DEBT AND THE MAJOR IMPORTANCE THEY MADE IN IT.   [so with their strength in oil, gold etc, would it not be feasible they would be at least a BB or higher?]   THE REPORTS WE HAD DURING THE WEEK WERE ADDRESSING THEIR CAPABILITIES — SO YES IT APPEARS THEY ARE TAKING INTO ACCOUNT EVERYTHING AND NOT JUST THE ACTUAL.   I AGREE…THEY ARE HOPING FOR A BB OR HIGHER.  [Do they have to have a credit rating to rv?]   THEY NEED CREDIT RATING TO SHOW WHAT CONFIDENCE THE CONTRACTORS AND DEBTORS CAN HAVE IN IRAQ– HIGH CREDIT RATING MEANS — CONFIDENCE IS HIGH [can they rv before credit rating?]  I DON’T KNOW — THEY COULD HAVE JUST ONE STEP IN THE MIDDLE OF EVERYTHING — WE DON’T KNOW WHEN…   [post 2 of 2]
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Millionday News Time Chat (evening) 6-22-15 Part 1 of 2

Thanks to DinarRecaps.com for posting News Time with Millionday!!

Millionday: 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:

Millionday: NOTE — I WANTED TO LOOK AT WHAT IS BEING USED TO DO THE CALCULATION

~~~

http://www.dinarupdates.com/showthread.php?15657-Millionday-News-6-22-15
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tman23 - CBI reserves near the end of 2011 were reported by Shabibi to be 63 billion in foreign reserves…AND that the amount of reserves held by the CBI was sufficient to cover the IQD THREE AND ONE HALF TIMES…3 1/2 … No ERROR NO MISTAKE… Then in 2013 it was stated the reserves reached well over 80 billion dollars… 20% of the CBI reserves is IQD…BUT not counted in the foreign reserve category…Then the GOLD PURCHASES…Not counted as “foreign currency reserves”… Remember the articles not long ago speaking of 4-1 ratio’s… The CBI reserves can cover their currency 4 times…NOT 2… And the rate of the auction used to be $13…the rate 1166 +13 = 1179 …That was for years… Now the 1166 + 24 = 1190…The CBI has almost doubled the charge rate. 
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Millionday - Article quote:   ”in the past week took place in Istanbul intensive meetings with two of the three for” credit rating “{” Fitch “and” Moody “} global institutions.”  IN THE PAST WEEK NOT JUST MEETINGS — INTENSE MEETINGS — GLOBAL…   THIS IS ALSO VERY IMPORTANT TO THE INTERNATIONAL BANKS.  Quote:  “The objective assessment credit situation of Iraq, which is the “Unclassified” {NR, Not publicly rated}, and this is less so from lower grades D .. The highest grades are AAA.”    IRAQ`S RATING RIGHT NOW IS UNCLASSIFIED — THEY NEED ALL THREE…THIS IS VERY IMPORTANT AND OF COURSE ONE OF THE LAST THINGS THAT HAS TO BE DONE TO GO TO THE MARKET ECONOMY — GLOBAL…   [post 1 of 2....stay tuned]
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tman23 - No in my email…….saved to another computer…….But he said;  The worry is the quick change and the effect it would have on the (“religious spectrum’) and people losing their religious yada yada (referring to a “source”) …….. BUT as we have seen in recent news…..This Ramadan people are not recognizing as they have in the past……They are losing faith and the suffering has been a great strain…….. So now Iraq can pick their poison…… Let people suffer and lose faith……..or give them a fast track economy and ease the suffering
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Zebari: We will be meeting with investors to issue bonds worth $ 5 billion

Follow-up Finance Minister Hoshyar Zebari, on Monday, that Iraq hoped to meet with investors for the issuance of five billion dollars worth of bonds…

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

BGG Notes:

I already pointed out the Bond offering was roughly “slated” for this same time frame (if all goes well) BEST CASE. Even then – 5 Billion USD won’t even come close to bridging the gap. This HUGE OFFERING will be lucky if it covers 15-20% of their shortfall for JUST THIS YEAR (assuming everything goes well). They need real buying power – SOON.

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Millionday - IRAQ IS SUPPOSED TO RECIEVE THEIR CREDIT RATING THE FIRST PART OF JULY…THE CREDIT RATING REPORT DID NOT STATE THEY REQUIRED THE GOOD VALUE BEFORE THE RATING. 
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Aggiedad77 - Article:  “Parliamentary Finance: We have taken several measures to ensure the stability of the dollar exchange rate   …the Finance Committee may actually be doing something worthwhile…looking to edit the Money Laundering Act…to be forwarded to the COM and then back to Parliament to be voted upon…seems that maybe PM Abadi has forced their hand insisting that currency manipulators be dealt with an iron fist and his expectations would be that the Fin Comm get this ball rollingI am sure that he is well aware of their position on things and he watches their every move very closely to monitor where they are headed in the scheme of things…Abadi is no one’s fool and he will not be played by some underling committee from Parliament.
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BGG - [If they boot Alaq then Shabibi could step in? They need expertise to do this? Shabs is one of a few that could do this right?]   I think they have/or are getting close to the consensus they need to remove him…they could – but I kind of doubt that happens immediately…it is one thing for Dr Shabibi to write a critical OP ED – it is entirely another for him to step back in – especially with the unrest there… and run the show with Maliki lurking in the shadows.  I would suspect he has some proof of Maliki financial crimes. He has to be some very serious threat for Maliki to have reacted to him the way he did.  Of course – but there are options other than Dr Shabibi which are just as good for us.
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Millionday Round Table Chat 6-22-15 

Thanks to DinarRecaps.com for posting Round Table with Millionday!!

Millionday: LET ME START BY SAYING THIS

Millionday: I HAVE BEEN BRINGING NEWS FOR A LONG TIME
Millionday: TRANSLATING DIRECTLY FROM IRAQ AND
Millionday: I AM HERE TO TELL YOU — DO NOT MISS ANY NEWS AND I WILL TELL YOU AND SHOW YOU WHY
Millionday: THE “THINGS” BEHIND THE SCENES WE HAVE ALL ASKED ABOUT ARE ALL BEING TALKED ABOUT OPENLY — THE ECONOMIC NEWS IS ALL ABOUT THE REFORMS AND THE DEVELOPMENT — NOTHING TO DO WITH IRAQ STAYING WITHIN THEIR BORDERS — SO KNOW THIS

Millionday: BE HERE AND THE FORUMS AND THE OBSERVER AND THE CALLS AND ALL AREAS OF NEWS
Millionday: DO NOT MISS NEWSTIME OR RT IF YOU CAN HELP IT
Millionday: WHOOOPOW
Millionday: NOW LETS LOOK AT SOME IRAQI NEWS

Millionday: Parliamentary Committee Member problem to investigate the reasons for the fall of Mosul to provide the Vice-President of Iraq and former Prime Minister, Nuri al-Maliki, to the International Criminal Court, because of what he called the “responsibility” for the control of so-called organized Daash the city of Mosul last summer and I follow the fall large parts of the provinces of Diyala in the east, and Kirkuk and Salahuddin to the north, and Anbar to the west. -

Millionday: WHOOOPOW — LOOK AT ALL THE AREAS — OOOOPS

Millionday: NOTE — MALIKI TO INTERNATIONAL CRIMINAL COURT — SHOCKING -

~~~

http://www.dinarupdates.com/showthread.php?15656-Millionday-Round-Table-Chat-6-22-15&p=118811#post118811
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tman23 - Iraq had a “record month” in May…..and revenue over 5 Billion Dollars…… 5 x 12 = 60…….. 60 billion dollars (May was a record so that is the highest along with oil prices being higher)…….Still short 42 billion from meeting the budget numbers…… And even if the ramp up the market economy….. The export of goods is not gong to be an immediate “thing” …….. Infastructure….electricity….all needed for manufacturing…..   5 billion in bond sales fills what gap ??  It will be a continued cycle of doom if the currency staus quo remains the same…..
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Poppy3 - …AS FAR AS THIS RV IS CONCERNED…BASED ON THE PM ABADI IN JANUARY AND AGAIN IN FEB…HE TOLD ALL OF IRAQ AND THE WORLD…PEOPLE JUST BEAR WITH US TILL INTO JUNE AND YOUR MONEY WILL HAVE VALUE AND MUCH MORE BUYING POWER.  NOW REMEMBER THIS IS DIRECT FROM HIS MOUTH TO OUR EARS. UNTIL HE SAYS SOMETHING DIFFERENT THATS WHAT WE CAN COUNT ON.
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Kaperoni - IMO if they issue the 50k notes the clock for currency reform has then started.  Why?  Because they will reduce the note count by 50% (over a period of a few months) and that means they are in a position to begin the process to delete the zeros.  If they don’t, IMO it would create a new set of monetary policy concerns.  Especially since they said they will destroy the notes exchanged for this new larger note.  There is no go back at that point.  I still hold out hope the 50k comes out sooner than later…but if we have to wait to mid 2016 to see the dinar begin to rise, so be it. …they have made it very clear these notes will not just exist in the money supply…they are for purchase. Meaning you will have to give up two 25k notes to get one 50k. of five 10k notes, etc. this will not reduce the money supply, but will substantially reduce the amount of paper.
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Millionday Nightly News 6-21-15

Thanks to DinarRecaps.com for posting News Time with BGG filling for Millionday!!

BGG : this is the “struggle for the soul of Iraq” and it DIRECTLY impacts MR… on one side you have Chalibi, Abadi (who wants to save his job/legacy), Allawi and even Dr Shabibi…. generally the Sunni contingent.

BGG : On the other side of the argument we see Alak and Maliki – maybe at the unction of Iran… generally the Shia hardliner contingent. All views I have been bringing to the general public…

BGG: up until I was writing about it – some of these ding-a-lings were saying Shabibi was on his way back tomorrow…

BGG says to puffdragon: not the case.

BGG : Nope – OK, gimme a sec – BRB with more.

BGG : National calls to bring the Central Bank of quotas

BGG: (Independent) .. called the National Coalition to the output of the Central Bank of quotas basket, and the replacement of those responsible for the collapse of the exchange rate who were appointed for partisan reasons unknown.

BGG : I’m going to comment about this in pieces…

BGG : too much here to talk about…

BGG : The “National Coalition” referred to here is NOT the National Alliance. The NA is the broader Shia alliance….

BGG : the NC is a smaller Sunni political bloc headed by former Sunni heavy weight Ayad Allawi…

BGG : all important because I always look at news from 3 perspectives…

~~~

http://www.dinarupdates.com/showthread.php?15648-Millionday-News-6-21-15
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Kaperoni - From Investopedia…DEFINITION of ‘Sovereign Credit Rating’:  The credit rating of a country or sovereign entity. Sovereign credit ratings give investors insight into the level of risk associated with investing in a particular country and also include political risks. At the request of the country, a credit rating agency will evaluate the country’s economic and political environment to determine a representative credit rating. Obtaining a good sovereign credit rating is usually essential for developing countries in order to access funding in international bond markets.   [post 2 of 2]
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wmawhite - For sure…there is a lot happening and Iraq is involved in many discussions with many countriesThe CBI will proceed in a manner to carry out the policies of the GOI. This (what we want) is NOT single faceted. It is very involved and is tied to the outside world currency markets.   …what we see and read about, on the streets, market rate, is not the yet to be announced international value of the IQD.   Instead, the GOI is preparing the citizen for what they will carry in their pockets. What we want is not spoken about openly.   Let me give you an example…the CBI informs all banks in Iraq to start paying foreign bills (remittances) in IQD instead of USD. And that the exchange rate/value will be XXX IQD for every 1 such and such. What is this? This was an example of a change in value of the IQD…how can and why would Iraq want to cut any country out? Instead, they will want all of the world to participate. We are blessed to be sitting on this…it still applies…it has never been about if…instead, we wait on when.
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Kaperoni - Anyone see that Iraq expects a credit rating next month? [see definition of "Sovereign Credit Rating" in part 2 of 2]   I did a bit of looking into this…  The credit rating is important because Iraq wants to sell bonds to cover the deficit.  If anyone would want them.  …the dinar is convertible now. Since they are in Article XIV, it does not prevent them from trading or convertibility.  That being said, many merchants, and banks refuse to deal with them under that condition…its really a choice by the bank or merchant if they are willing to engage with Iraq while the CBI is under Article XIV.  That would change if the CBI met the conditions to move to IMF Article VIII…Which is the international standard of acceptance.  Banks, merchants would welcome transactions, etc. once they meet that standard.  That being said, Dr. Bakri, a very well known economist in Iraq stated to me that currency reform would occur before the CBI would ever meet Article VIII.  So Article VIII is not something we necessarily need Hopefully we will see the dinar appreciate long before the CBI moves to Article VIII.   [post 1 of 2....stay tuned]
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Tune in for Round Table Chat w/Millionday @ 1:00PM EST – today (6/22) in the DU Chat Room!!

Read More: http://www.dinarupdates.com/
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Millionday - [What about the amnesty law? has that gone through?]  THE AMNESTY LAW IS IN PARLIAMENT.  [PARL NOT DUE BACK TILL JULY 1? ANY TALK ABOUT SPECIAL SESSIONS?] THEY HAVE BEEN GIVEN 30 DAYS OF SPECIAL SESSIONS BUT NOT SURE WHEN THAT ENDS.  [Didn't the investment law have two or three readings already...?]   YES IT HAS AND IN FACT IT HAS BEEN REPORTED IN SOME REPORTS TO BE DONE.  [Any more updates on HCL?]  THEY ARE USING THE OIL AGREEMENT WITH IRAQI FEDERAL AND ERBIL — THROUGH MOSTLY WHAT WAS ACQUIRED FROM 2011 ISSUE — AND WORKING ON ANY CHANGES IN FUTURE LAW …THIS IS NOT UNUSUAL FOR NATIONS TO BE CHANGING AND REFORMING LAWS.   [post 2 of 2]
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Chattels - [Do you think the current leadership is capable of turning the corner over there?]  it occurs to me that the corner was turned with the ” seating ” of a government under Abadi and with the ostensible peaceful transfer of power – we are in the stretch – hoping that the Abadi horse does not break down before the finish line.
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Millionday - Published (range Press) draft law of the National Guard in Iraq and amendments made to it by the political blocs, the following is the text of the draft.  Based on what passed the House of Representatives and approved by the President of the Republic and based on the provisions of the first item of Article 61 and Item III of Article 73 of the Constitution. Issued the following law National Guard Law.“  THIS IS SAYING THAT THE NATIONAL GUARD IS TO RECEIVE THE RIGHTS AND PRILEGES LISTED IN THE LAW BY BEING IN THE SERVICE AS WITH ALL SERVICE BRANCHES…  [National Guard law passed?]  YES AND AMENDMENTS.  [What does this law have to do with the Dinars?]  THE NATIONAL GUARD IS USED FOR MUCH OF THE SECURITY ON BORDERS AND MANY OTHER AREAS — IT IS A HUGE LAW FOR THE SECURITY OF IRAQ AND THE CONFIDENCE OF INVESTORS AND CITIZENS ETC.  [post 1 of 2....stay tuned]
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Millionday Nightly News 6-20-15 Part 2 of 2

Thanks to DinarRecaps.com for posting News Time with Millionday!!

Millionday: NOW THIS IS VERY INTERESTING

Millionday: DONT MISS A WORD

Millionday: The governor of the Iraqi Central Bank on the Keywords, on Friday, that there are attempts to weaken the Iraqi dinar, noting that the Iraq Central Bank seven shields vulnerable Iraqi currency.

Millionday: Keywords and he said in a statement received by the agency / information / copy of it “proved the facts of the past few days that attempts to weaken the Iraqi dinar and the attempts of speculators fool hard facts have been unsuccessful and will develop to fail at any time,”

stressing that “the power of the dinar back to the reasons for which is that there are seven facts constitute a shield bunker local to our currency.
~~~

http://www.dinarupdates.com/showthread.php?15642-Millionday-News-6-20-15
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Kaperoni - [Just curious as to your thoughts on all these American companies being awarded multi million dollar contracts in Iraq for various products and services.] With Iraq having no free market economy, nobody is going into Iraq until the laws and banking system are in place to support it.  If your talking about oil contracts, yes companies are working in Iraq and paid in US dollars.  Iraq though as of late has had issues paying these companies and some are accepting oil now as payment.
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Enorrste - In my view they should return to the auctions with no limits, for the time being.  This will increase confidence in the dinar as the CBI becomes more “transparent” rather than “hamstrung.”  They should also issue the larger notes sooner rather than later.  This will allow a reduction in the money supply which will have a positive affect on the value of the dinar.  It will also offer a counterpart to the American $50 and $100 which seems to be a problem for the locals (according to Saleh and others).  Finally, as the value begins to come back, they should change the exchange rate regime while it is moving upward.  This will encourage more trade in the dinar and a faster rise in its value.     [post 2 of 2]
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Aggiedad77 - We have PM Abadi speaking this week, we have Dr. Shabibi practically crowing this week, now we have Dr. Saleh wrapping up the week with his ideas on more good news…..rest easy.
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DinarUpdates.com / Saturday Afternoon Chat with WMAWhite…

Urgent .. Keywords: central bank intervention in the decisions that affect the work

Follow-up – The governor of the Bank of the Central Bank of Iraq on the Keywords, the bank agreed with the Association of private banks to develop procedures to support the stability of the currency exchange rate.

According Keywords in a joint press conference with the President of the Association of private banks and depositary Handal, that “change or raise the exchange rate means carrying citizen direct burden of this increase, what happened in the past few days is not normal, pointing to attempts to involve the kind of speculation and other things “noting that” it is not reasonable to increase the exchange rate within one day 100 degrees and can not be the only factors and the presence of non-natural causes leading to this increase. ”

He continued, “As long as we are able to respond to the request, no matter how its size, we have no fears or concerns to influence the exchange rate.”

alrayy.com

wmawhite: For sure…..there is a lot happening and Iraq is involved in many discussions with many countries.

puffdragon: This was my take from BGG explaining this emergency meeting for Sunday and Alak should be worried, with this press conference of Alak’s – he is IMO (worried).

beth: And what are your thoughts about Alak today?

beth: I just want to pick your brain. (lol)

wmawhite: The CBI will proceed in a manner to carry out the policies of the GOI. This (what we want) is NOT single faceted. It is very involved and is tied to the outside world currency markets.

beth: Supply and Demand…right?

wmawhite: Exactly………….what we see and read about, on the streets, market rate, is not the yet to be announced international value of the IQD. Instead, the GOI is preparing the citizen for what they will carry in their pockets. What we want is not spoken about openly.

beth: I agree there

jd: I’m just afraid if USA does not help Iraq then China, Iran or Russa will and totally cut us out of the RV all together. Obamas hands off approach may push us out of this whole process??

Baxter1243: JD.. how would that be possible.. currency is currency… no matter where you are…

wmawhite: When a country changes its value of its currency it applies to the entire world. It is impossible to “cut” a country out of recognizing the value of what you want the entire world to use.

beth: I have to remind myself daily that these articles that we see are really meant ONLY for the Iraqis to read. They aren’t meant for us to read. But we do anyways and then try to understand what they are really saying.

cowboywads: JD OUR GOVERNMENT HAS TOO MANY DINAR FOR THAT TO HAPPEN

wmawhite: Let me give you an example…………the CBI informs all banks in Iraq to start paying foreign bills (remittances) in IQD instead of USD. And that the exchange rate/value will be XXX IQD for every 1 such and such. What is this? This was an example of a change in value of the IQD………..how can and why would Iraq want to cut any country out? Instead, they will want all of the world to participate.

beth: Exactly !!!

jd: Im not sure that Iraq trusts the USA a whole lot.

beth: I love the way you explain things in layman terms. Makes it so much easier for US to understand. So Thank You :-*

jd:Sadr really thinks highly of us.

cowboywads: JD TAKE A BREATH AND RELAX YOUR GOING TO BE RICH LOL

beth”: Iraq will always do what is best for Iraq and the Iraqi Citizens !!!

wmawhite: The introduction of the IQD to the world currency markets has zero to do with trust of the USA.

puffdragon: Dont get him to excited he might have to change !!

jd: I just see a lot of land mines along the way.

beth: And with the IQD in the World Currency Market is HUGE and much NEEDED for Iraq’s future.

wmawhite: And some asteroid may wipe out earth too…………but why worry about that.

jd: You are right.

puffdragon: You got it I’m impressed !

wmawhite: We are blessed to be sitting on this……………..it still applies………..it has never been about if………instead, we wait on when.

diagyAAAE: I agree mr white

mimi3: well I am ready for the blessing!!

http://www.dinarupdates.com/showthread.php?15643-Saturday-Afternoon-Chat-with-WMAWhite-(6-20-15)
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Enorrste - Article:  “Central Bank current problems as a result of the loss of independence“  I am encouraged that Shabibi stepped into the argument, finally.  We now have Shabibi, Saleh, and Abadi on one side and, presumably, the CBI and possibly Maliki backing the play, on the other side.  The real question here isn’t what Shabibi has said:  that is all old news to us.  What is the question is whether his entry into the discussion will move the ball forward.  Even though he is out, he still carries a very big stick.  He also has the backing of the IMF, totally.  Therefore, it would not surprise me if some new “policy decisions” came out from the CBI shortly (of course the advent of Ramadan may make “shortly” last over 30 days!).  It is clear to me that what Shabibi has stated is absolutely accurate:  the meddling of the GOI and Parliament into CBI monetary policy has caused the problem that exists today with the wide spread.  Whether Allaq has the knowledge or courage to take the proper corrective measures remains to be seen.  [post 1 of 2....stay tuned]
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Frank26 - They are working the MR in this method:  Credit Rating to LDs for next month … Many are excited and FUELED for they are pegged to the IQD… As this leads to Article 8 compliances.
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Millionday - NOTE — ABADI IS HOLDING A HUGE PRESS CONFERENCE IN THE MORNING [SATURDAY] ABOUT IRAQ ECONOMY.
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Millionday Nightly News 6-20-15 Part 1 of 2

Thanks to DinarRecaps.com for posting News Time with Millionday!!

Millionday: LOTS OF ECONOMIC NEWS SO HOLD ON — WHOOOPOW

Millionday: HERE WE GO — WHOOPOW

Millionday: Called MP from the parliamentary bloc of virtue Ola Nashi, Saturday, the Iraqi Central Bank to deal transparently with respect to future plans and strategies, and the defense of the gross national product of Iraq, stressing the need to detect the real value of the reserves as part of the integrity and transparency.

Millionday: NOTE — PARLIAMENT ASKING FOR THE REAL VALUE OF RESERVES — TRANSPARENCY — SMILE

Millionday: She said Nashi in a statement received by the agency / information /, a copy of it, that “the Central Bank of Iraq is a huge responsibility of maintaining the stability of the exchange rate of the Iraqi currency, so it must be handled transparently with regulatory and advisory with respect to plans and strategies

Millionday: WOW

Millionday: NOTE — CBI IS RESPONSIBLE FOR THE EXCHANGE RATE — SO THEY ARE ASKING FOR THE TRANSPARENCY –WITH RESPECT TO PLANS AND STRATEGIES

Millionday: He added “It is certain that the bank did not disclose the actual reserves of foreign currency and this in itself is part of the crisis of confidence between the regulators and the executive.
She stressed that “the recent financial crisis that caused down the exchange rate of the Iraqi currency bears the burden of the Central Bank and the face of public opinion.

Millionday: SO — THEY ARE STATING THAT CBI IS NOT DISCLOSING THE ACTUAL EXCHANGE RATE —THIS IS CAUSING PROBLEMS WITH THE CONFIDENCE AS WELL — SMILE

Millionday: WHOOOPOW…

http://www.dinarupdates.com/showthread.php?15642-Millionday-News-6-20-15
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tman23 - Iran is looking to extend everything as long as possible because their sanctions won’t ease until January…Then they are meddling in Kurdistan trying to delay the elections with a move to permenantly replace Barzani as president… The KDP and Barzani have a clock ticking… they cannot afford to waste more time on Baghdad BS… otherwise their position will be compromised… End of the road …JUNE! Abadi has to put up or shut up!
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My Ladies - I AM NOT SAYING I KNOW WHEN THIS WILL HAPPEN BUT I INVESTED IN THE DINAR AFTER CAREFULLY LOOKING AT IT AND REALIZING THAT WHAT GOES DOWN WILL EVENTUALLY CLIMB BACK UP.  IF WE LOOK AT ALL THE BASEL REQUIREMENTS AND THE MASSIVE CHANGES TAKING PLACE IN THE MIDDLE EAST AND EUROPE TODAY RIGHT NOW AND WE CAN SEE OUR INVESTMENT IS SOUND.  EMERGING MARKETS ARE TAKING THEIR PLACE AND IRAQ IS NO DIFFERENT, THEY HAVE A WAY TO GO YET I THINK BUT THEY ARE FOLLOWING ALL REQUIREMENTS SET FORTH BY THE IMF AND OTHERS. HOW WILL ALL MARKETS CORRECT AND EMERGE AND IRAQ REMAIN IN NEUTRAL?  I DON’T THINK IT CAN.  JUST LIKE ANY THING ONE MIGHT BE INVESTED IN, STICK WITH IT, THIS WAS NEVER INTENDED TO BE A GET RICH QUICK SCHEME. WE HOLD ACTUALLY CURRENCY IN OUR HANDS AND HAVE EVERY REASON TO EXPECT IT WILL RETURN TO ITS VALUE ONE DAY.
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Breitling - Here’s the thing people don’t understand…they don’t need perfection for it to gain value.  With all the drama going on it could be 30, 40 50 60 70 cents who cares?  It’s not going to be the $3 rate.  It’s not going to be a buck fifty or anything like that but that’s what people don’t realize. Don’t get confused with all the drama that it’s going to stay at a tenth of a penny, it shouldn’t be at a tenth of a penny anyway.  the reason it’s at a tenth of a penny is because we are allowing them to “cheat” so they can rebuild their infrastructure just like Japan…just like Germany…go back through the history again.  so there is a very good reason and not only that but we are also watching their infrastructure being built.  Where these entities are throwing money into Iraq…they are establishing.  What is the representation of that?  the ISX…so you’ll see the index build up and those are the indicators.  There is a lot more coming down the road that I’m watching and very very excited about.  There is going to be a lot of moves made coming out of Iraq regardless of what happens with the drama.
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GOVERNMENT ADVISER: THE FINANCIAL CREDIT RATING OF IRAQ ANNOUNCE NEXT MONTH 

Government adviser: the financial credit rating of Iraq announce next month 

Prime Minister for Economic Affairs adviser said the appearance of Mohammed Saleh, said that the financial credit rating conducted by a government delegation in Turkey this week will announce next month its nature .

He said Saleh’s (IMN) , that “the negotiations held between the Iraqi delegation and between Fitch and Rhodes delegation of international credit rating in Turkey this week will announce its findings in July next”, noting that “countries will be her decision in rated credit financially granting Iraq “….

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

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BGG ~ [We think that the solution to all their problems is the same solution to all our problems (i.e., increase in currency value)...obviously not the case. The politicians and bureaucrats seem to be comfortable in maintaining a status quo there that to us is haphazard at best. The universality of politicians everywhere, it seems. Who benefits maintaining the status quo regardless of how meat-headed it all is??]

The main benefactors of “status quo” are…

Iran…

Maliki…

Alak…

and various other political entities who benefit financially in the current woeful situation…

Who stands to gain from changing the “status qou”?? Everyone else. (this includes you, me, everyone in Iraq)…and since MR in Iraq will obviously have some impact on their neighbors… now ask yourself again, why they are meeting with Iran, Turkey, the Saudis, Kuwait… in Jordan ( who BTW have offered SF troops)? The people were actually threatening to demonstrate “in the streets” over the exchange rate of the Dinar. That is a HUGE SHIFT is public awareness!!

Why all these “meetings” while they obviously have other very important priorities in their western provinces?? I rest.

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tman23 - I have said end of June is the end of the road… There is no more road left for the Baghdad procrastinators to kick the can down…And as PROOF…we now see the Kurd delegation heading to Baghdad next week…This is not a negotiation that is going to take place… The Kurds will tell Abadi, not Abadi telling the Kurds! This is the “breaking point”.   All I can say is… This IQD revaluation is complete speculation…That is why we are all here! The HEAT is on and the opportunity for us speculators doesn’t get any better than the position we sit in right now… The GOI must make a move…how that plays out for us remains to be seen… I am not negative to any of what is happening…Quite Frankly…IT IS WHAT WE HAVE BEEN WAITING FOR…THE GRAND FINALE!!
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Kaperoni - He didn’t…in fact he stopped at a number (1000:1) that I think was predetermined as part of the plan to lure investors at a fair risk/reward price. I believe that was for a reason..one of which was to leave enough room to develop the oil sector (the first appreciation) and the market economy is next step using the dinar to absorb the inflationary pressure created by the influx of investors and investment.  So I know it gets frustrating, but once the stage is set, I am a strong believer the appreciation of the dinar will be part of that phase.  [post 2 of 2]
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tman23 - Abadi is in a tough place…and he has to make a decision!  Is he for Shia interests first or for the people of Iraq as a whole.   The Kurds are willing to be the co-partners and help him work through the process… The next 7 days are vital! I expect to see either reconciliation that includes some rolling heads… or separation… I do not expect to see the status quo remain the same…Ramadan is meaningless right now…Iraq is at the breaking point and they are running out of road to kick the can down.   [post 3 of 3]
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home7

Iraqi Dinar/Dollar auction 06-20-15

Currency Auctions Announcement No. (2976 – the most recent listing)

This daily currency auction was held in the Central Bank of Iraq on the 06-20-2015

The results were as follows:

DETAILS NOTES
Number of banks 22
Number of remittance companies 3
Auction price selling dinar / US$ 1166
Auction price buying dinar / US$ —–
Amount sold at auction price (US$) 210,212,000
Amount purchased at Auction price (US$) —–
Total offers for buying (US$) 210,212,000
Total offers for selling (US$) —–

More: http://dinarupdates.com/blog/

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tman23 - [why would Abadi ask for sanctions to be lifted for Iran? well IMO I think he is still a great leader/Prime Minister! but not sure what in the world he is doing?]  I could speculate on a number of reasons… But IMO…it is directly related to the lifting of the 3 zeros… Iran wants to trade with Iraq but lifting the 3 zeros means there would be no parity between currencies… Iran would have to live up to the nuclear agreement and any breach would keep sanctions in place causing more internal problems with the Iranian regime… And we see Iran attempting to stall things until January…6 months until their sanction ease… Note that members of the PUK would like to hold the elections 6 months from now and not August 20th… This gets into detail…but the pattern is present!   [post 2 of 3....stay tuned]
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Kaperoni - [Make a person wonder why they are so set against raising the value of the dinar.]  I do not see Iraq against raising the value…its more about setting the stage or creating the right environment so the dinar will succeed. If you believe the plan, and the IMF documentation, they must pass the laws, rid the country of violence or and ISIS so investors want to come to Iraq. If they do not, the launching of the currency will fail.  If you think about it, if Shabibi wanted to, he could have continued to appreciate the dinar all the way up to 1 to $1 or greater back when he started in 2003-2004 with the new dinar.  [post 1 of 2....stay tuned]
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tman23 - 4 moves by Abadi that cause reason for concern. 1) He made a televised address stating he paid the Kurds in full for their oil and does not know why they have not paid their peoples salaries… 2) At the Paris security summit he asked for Iran sanctions to be lifted, which was completely inappropriate! 3) He went and visited Russia to seek military weapons 4) He just went to Tehran and met with Rhouaini for future trade deals… Must admit that all 4 of these moves are questionable…and quite frankly they are moves that are favorable to Iran more than the G19 countries…   [post 1 of 3....stay tuned]
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Check out the Dinar Corp 120+Max – it’s EQUITY!!

Commercial Solicitation

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BGG - I am unsure of Abadi’s charter coming back from Iran – personally, I hope not much was agreed to and he put them on their heels…anyone understanding the dynamic knows Iran is no fan of currency reform in Iraq.
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tman23 - We suspected that after the special meeting on the investment law Monday May 25th that we would see the “new currency” 50k note presented, at the very least a photo! We did not get that…in fact it seems like the subject is fading…But we did get Shabibi speaking out…We don’t know how it is being played out but…events are coming close to speculated timelines!
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tman23 - Remember…….Under the caretaker government it is illegal to appoint positions….. Turki submitted his resignation (which has to be done 30 days in advance) and can be declined…….Maliki could have said, wait 3 days until the new government is seated and allow them to appoint the CBI Governor……..  After Maliki and the CoM made the appointment, Maliki made the statement that the new government can choose who they want……. Then apparently the Fed Court changed up some law that would prevent the removal of Alak……….. It is my understanding that Abadi can relieve Alak at his discretion since Alak was appointed by the caretaker government (which is considered temporary) and the Fed Court insert to a law followed……. So by legal arguments……Alak is temporary as the Fed Court action came after the fact…… WE speculators are not stupid……..and a removal of Alak before hand may set off alarms around the globe on IQD………So I suspect ALL AT ONE TIME !!
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CURRENCY CODE SELL BUY

US dollar USD 1166.000 1164.000

CURRENCY CODE SELL BUY
US dollar USD 1166.000 1164.000
Euro EUR 1315.131 1314.474
British pound GBP 1835.634 1834.716
Canadian dollar CAD 947.351 946.878
Swiss franc CHF 1255.248 1254.621
Swedish krona SEK 142.600 142.529
Norwegian krone NOK 150.739 150.664
Danish krone DKK 176.351 176.263
Japanese yen JPY 9.447 9.442
Special
Drawing Rights
SDR 1642.183 1641.362

Indicative rates – 06.20.2015

http://www.cbi.iq/

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tman23 - Shabibi is working with the IMF……..You just do not appear at the table as an interested party to the procedures that involve monetary conditions in Iraq…….. The GOI took out a loan……… The loan from the IMF comes with “strings attached”. That loan was said to be deposited in the CBI reserves account by the GOI…….. Co-mingling funds……NOT SMART !!  Brillant move by the IMF and Shabibi………Alak is too stupid to know what they were doing…….. And Shabibi let part of the cat out of the bag……..which indicates that the IMF funds have been deposited !!!  IHMO !!!
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Stryker - It is my belief that we are down to the CBI reducing the market rate as close as they can to the de facto rate of 1166, and boy was today a big step in getting there. If you haven’t seen my update on my MARKET RATE CHART be my guest, it has dropped 41 dinars to the dollar just since yesterday and with a lower auction amount today then yesterday’s auction.  I also have confidence that the CBI will get their full independence back and if all goes well, the tariffs will be implemented the first of August.  Yes there are some real concerns both with all the corruption, security issue, the low liquidity issues and the low market value of the dinar but all signs show that they are making great steps in those directions.  Can they get to where they need to be to see the delete zero project completed, introduce new categories of currency and at the same time increase the purchasing power for the Iraqi citizens, all within this year? I sure believe they can  and why I am spending so much time understanding all the possibilities that can drive them there, or see the ones that could prevent them from getting there.
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Aggiedad77 - Article:  “Parliament rapporteur: draft amnesty law will reach Parliament next week“  The Amnesty Law has been approved by the COM and is being written up in the proper format for submittal to Parliament…should get to them some time next week.
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Thurs. Afternoon Dinar Call!!

Info w/BGG – for 6/18 (Sun Call)

Click on the call banner in the upper right corner!!
P.S. this call is the rec. we recovered from Sunday.

Smart phone user link – Click here

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tman23 - It’s all quite simple… The Kurds have antied up, the Kurds have laid their cards on the table, IT IS NOW TIME FOR ABADI GOVERNMENT TO SHOW THEIR HAND, IT IS PUT UP OR SHUT UP! AND MONEY TALKS, BS WALKS! As I have said for the past 6 weeks or so…JUNE IS THE END OF THE ROAD! 
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Aggiedad77 - Article:  “Sistani’s office: Friday first day of Ramadan .. and Haeri: Thursday surprise holy month“  So it is official now that the word has come down from the cleric Sistani’s office…Friday is the first day of Ramadan for Iraq and neighboring areas…I want to caution that this is a religious holiday time, but it does not shut the government completely down.
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tlm724 - Article:  “Central Bank eliminates the Sabbath banks to meet the requests of foreign currency“  Quote: “in a press release that he “considered Saturdays decided to normal working days to meet the requests of banks and foreign currency with effect from 06.20.2015.“   so Saturday’s will be a working day!  another step in their attempt to correct the mess they are in!
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home7

Iraqi Dinar/Dollar auction 06-18-15

Currency Auctions Announcement No. (2975 – the most recent listing)

This daily currency auction was held in the Central Bank of Iraq on the 06-18-2015

The results were as follows:

DETAILS NOTES
Number of banks 22
Number of remittance companies 2
Auction price selling dinar / US$ 1166
Auction price buying dinar / US$ —–
Amount sold at auction price (US$) 203,545,125
Amount purchased at Auction price (US$) —–
Total offers for buying (US$) 203,545,125
Total offers for selling (US$) —–

More: http://dinarupdates.com/blog/
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Frank26 - [Is Parliament working?]   yes…this is going into their 3rd year. Despite the heat and Ramadan…they are moving forward. That’s impressive!
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Aggiedad77 - I’m thinking that Dr. S [Shabibi] may just hold the “Last Cookie” Good to the last crumb he says. CONTROL is a powerful thing…in the right hands it is POWERFUL.  Dr. S understands both the control and the power.  May his actions soon be a blessing to the world.  Speaking of patterns…who said that…It would appear to me that PM Abadi and Dr. S are doing things in an orchestrated manner the last few days…their travels…their speeches…the messages they are putting forth…all seem to be preparing everyone for more to come…They work with precision, yet they know not to lay all the cards on the table as yet. There is still some riffraff to be taken care of and from their words they know exactly what needs to be done and how it will be performed.  Each day is becoming more and more of a delight to see what they will reveal next.  Life is good…but getting gooder  Remember the BEST is yet to come.
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Frank26 - Since the 14th DRS [Dr. Shabibi]  is talking with his heart not mouth.  He has orchestrated the MR [Monetary Reform] like The True Governor of The CBI that He is!  DRS is the E F Hutton of our investment …THE SQUIRREL with the MR PLAN acorn.
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BGG Comments 

[Any News today?] BGG ~ You might want to catch up on THE BLOG

http://www.dinarupdates.com/blog/ (save as favorite)

or THE OBSERVER

http://dinarupdates.com/observer/ (save as favorite)

[... I am still trying to figure out your website :) ]

and The Iraq NEWS THREAD… (142 postings of NEWS yesterday) http://www.dinarupdates.com/showthread.php?15618-The-Dinar-Daily-Tuesday-June-16-2015

[wow]… then obviously the CALL from yesterday afternoon… http://d.pr/a/17mad [no kidding...] If peeps can’t get a handle on where we are at – they aren’t looking…

[.. you are right :) ]…Because DU is ROLLING!! [I seem to be landing here more often] Glad to have you :)

[Thanks.. so let me get my mind around this :) the Blog or Observer is like the news scrolling bar, correct...] kind of – yes…

[so if I want to see the today's news.. I go to Observer...?!] The OBSERVER Goes and goes – a continuous roll of comments from around the community…

[I see] THE BLOG is Daily News (my take) with archives (going back as long as you like)…

[I see.. I will click and click and study your site :) ] The News Thread is all the direct articles and feeds for the day – with archives. The call is a short update a couple of times a week… http://d.pr/a/17mad – that was the call from yesterday….

and you can follow us on Twitter @DinarUpdates

[I like short calls LOL I'd rather read the transcript then sitting in front of my computer and listen to a call for two hours.. my mind doesn't go that far]

I try to keep those like 10-20 minutes but I think I covered 26 headlines – just too much stuff out there… [Wow... you think we are close...?] Hard to say – depends on which side wins… (CBI or GOI)…or which side is successful – CBI/ALAK/Maliki probably know they can’t win – best case, stall a bit…

[I think with Iraq we just need to roll with them.. I don't think they know either.. the plan changes like they change shirts :) ] I don’t know about that – but it has certainly changed with the regimes…there was (clearly) a plan, but this was based on the regime and CBI in place at the time… both have changed since. Now it’s a matter of survival – which is just as good with me. Quite honestly…

[do you think if Bush were still in charge, we could have seen the RV..?] Hard to say – with Maliki?? Maybe not… GWB was trying to “mentor” him… only so much one can do with a turnip. McSlicky was obviously BS-ing him the whole time… [Mcslicky soon to be mcnuggets :) ]
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tman23 - Just following the Iraq state of panic.  I keep searching for the Hakim grand opening to the announcement made a few weeks ago – “A storm is coming”…..and he asked that politicians remain neutral and quiet in media.  Hakim has been silent, yet he made this one national public address warning….  A STORM IS COMING……… At one point I thought military event…….but now leaning towards some political replacements……governor Najafi being ousted was a “6th man being cut” per se’ ….I think we are now moving to the “starters”….. Maliki…Alak….and probably a few surprise names on the list…
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SteveI - [do you  still think it will  RV  at $3 Plus?]  I do and not sure how a 1 to 1 ratio will really help them as their currency would be stronger, but sill very low or weak regarding the value in the region.
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Adam Montana - I still think the HCL is really the main thing we’re looking for.  Unfortunately, I think they missed a big opportunity to get it done a month ago, and their lack of followthrough on a good opportunity will set this back another month now.
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CURRENCY CODE SELL BUY

US dollar USD 1166.000 1164.000

CURRENCY CODE SELL BUY
US dollar USD 1166.000 1164.000
Euro EUR 1315.131 1314.474
British pound GBP 1835.634 1834.716
Canadian dollar CAD 947.351 946.878
Swiss franc CHF 1255.248 1254.621
Swedish krona SEK 142.600 142.529
Norwegian krone NOK 150.739 150.664
Danish krone DKK 176.351 176.263
Japanese yen JPY 9.447 9.442
Special
Drawing Rights
SDR 1642.183 1641.362

Indicative rates – 06.18.2015

http://www.cbi.iq/

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Delta - Great news! We just got confirmation…the Iraqi bonds are no longer in the pipeline anymore. Remember when I point that article out about a month ago. They are no longer in the pipeline anymore. That means they are about to be issued. We are very, very close!  
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Kaperoni - Article:  “Dr. Haider al-Abadi, Save the monetary sector, it is the last remaining of the sustainability of the Iraqi economy!”  Abadi is as frustrated as we are..and his statement implies Allaq is intentionally destroying the economy.  Makes you wondering if Maliki is behind it.  I only see two possible corrective actions…  1. a long gradual correction of the market rate by reducing the spread liberalizing the sale of dollars through the auctions.  This will now take months to correct since the spread is almost 20%.  Or 2.  get off the peg and correct it with a float.  I think back to the IMF doc…”from fixed to float”  ..we may be seeing preparations for a disorderly exit.
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Frank26 - Security may now be a foregone conclusion. Security may be a different need within the cities, but internally with S [Shabibi] and his teams, they need security.  IMO the troops are in the thousands and thousands and the weapons are superior – security is there! Now a different type of security is evolving within their CBI and banks…all they need to lift the 000’s to be in position it all needs activation.  Everybody knows the true value of the Iraqi dinar right now. Example…why would anybody risk to steal 800 million dinars…
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SteveI - [I love the Fact the people are getting seriously involved and pushing for their currency to be worth something, let the people speak and without fear!]  The citizens have been promised for years this was going to happen (increase in value that is close to the USD), so they best get the job done before it goes from peaceful to not so peaceful demonstrations!
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Adam Montana - Here’s what’s going on:  Today starts Ramadan. With the lack of major news in the last month, I don’t see an RV until after July 17, when Ramadan is over.  Unless we get an announcement today, I’m thinking it’s not going to happen during the holiday.
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Millionday - Article quote:  “…the text of the amnesty law, which was voted on Tuesday in the Council of Ministers and submitted it to parliament.”  THE AMNESTY HAS MADE IT THROUGH COM AND IS IN PARLIAMENT…THE LAW IS LONG SO WE WILL WAIT FOR FINISHED LAW – KURDS WERE ASKING FOR THAT A LONG TIME AGO.
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Check out the Dinar Corp 120+Max – it’s EQUITY!!

Commercial Solicitation

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Delta - [Do you believe that the amnesty law has been passed?]  I do believe we are watching that and the investment law (IMO). We may see some type of emergency meeting during Ramadan.  Without the investment law…Article 8 isn’t going to make any sense at all.  IMO…no more laws are needed because if they went to Turkey and talked to them about bonds for 2 days…what are the requirements for them to sell bonds? An international rate!
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Kaperoni - …technically…the dinar could remain weak, but the statements about increasing the value of the dinar are not just words but based on sound merit. Both the WTO accession committee and the IMF have encouraged the dinar to be valued higher. In fact, it was once stated by the accession committee that full accession would not come..”until the dinar is more on par with the dollar. So there is a real sense that the dinar is undervalued and needs to have a correction…getting off the peg and floating the dinar is the best solution to accomplish that.
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Delta - Parliament said that the Iraqi dinar would be very close to a dollar.  Abadi said that change is coming…that the wealth of the citizens will return like it was before the sanctions.  Again this is NOT rumors…this is from the CBI.  Is something going to happen during Ramadan? Ramadan is basically fasting…During Ramadan (June 17th to July 17th)…life and work still goes on. Banks are open. It’s business as usual.  …when the CBI reprinted the new security features on the 25k and 10k notes…they distributed those last year during Ramadan. So Ramadan is not a holiday. The CBI can change anytime they want. Anything could happen. Change is coming and it will be a good change!  [post 2 of 2]
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BGG ~ If you are wondering who it is who has been holding things up…

Parliamentary Finance demanding exemption Keywords and appoint a person to manage efficiently the central bank [Article link]

1) Who swept in on a weekend scooping up most of the CBI middle management and filing charges against Dr. Shabibi??

Hint – the guy famous for “political arrests”… 

2) Who threatened Turki while he was the first “proxy” Gov of the CBI (who, in fact, appointed him)??

Hint – the guy famous for “proxy” appointments…

3) Who replaced Turki and “appointed” Ali al-Alak as “acting proxy” Gov of the CBI mere days before his own ouster as former Prime Minister??

Hint – Alak would have been seen as a very “friendly face” in the CBI (a critical office on influence) for Maliki – he was the Sec Gen for Maliki’s Council of Ministers (AKA – his right hand man) for 7 or 8 years of his previous regime…

Getting the picture??

Every time the GOI (the government of Iraq) appears to get things going – for instance – getting close to implementing Customs and Tariffs (these Laws are already passed), right near the “go date” someone, somewhere seems to stall things…

These latest rumblings against Maliki and Alak are VERY HEARTENING!!

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Kaperoni - I don’t know if it would ever happen, but the only person that could instill immediate confidence in the banking system and return the dinar to a manageable rate is Shabibi. But Maliki would have to go first before he would ever consider coming back. Not to mention at his age, he may not want too.
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tman2 - The fact is that the GOI and CBI are in a battle…The only thing that helps Iraq is purchasing power… I will even go out on a limb to say…Europe now faces more austerity measures…Greece faces bankruptcy and dropping out of the Euro… Picture a dam with a large block missing in the middle…no matter what you do to try and maintain the water level it will remain a never ending cycle until the “hole in the dam is blocked”… Austerity measures usually include more taxes…Iraq austerity has already cut payments 50% – 80% and are still running a 30% deficit… Taxes hardly fill that gap…and since oil revenue was a base for infrastructure development the unstable production and prices squash the revenue being directed towards development. The IQD revalued is the block in the dam. The IQD revalued is GOI purchasing power and answer to the deficit. 
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Delta - …the dollar is dominating in Iraq again – breaking records in all of Iraq. The exchange rate is close to 1340.  About 1,400 dinars to the dollar. The media is slamming the CBI big-time because of this. They know Ramadan is coming up…and the citizens are all talking about the high prices to buy things.  They can fix their problems by changing the monetary policy. The citizens, the GOI…everybody knows a change is coming.  The articles say that things must change sometime next month…and after they make that change…they no longer will use the USD.  Iraq is one of the most wealthy nations on earth but yet they have no cash on hand….they don’t have the liquidity and only ONE THING CAN SOLVE THAT! The CBI must change the monetary and currency reform and basically give their currency more value so that way they have more liquidity.   [post 1 of 2....stay tuned]
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Ghaidan: Maliki ordered us to withdraw from Mosul

Brother – Baghdad - Dawn in the Integrity Commission, the parliamentary member of surprise when when he said that he heard himself the commander of ground forces in the former Iraqi army Ali Ghaidan during interrogation about the reasons for the fall of Mosul, while acknowledged that they withdrew from the province of Nineveh, by order of the Commander in Chief of the Armed Forces at the time Nouri al-Maliki…

Read More: http://dinarupdates.com/blog/
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Frank26 - What is going on with the Qi-Cards? The citizens seem angry…they don’t want to come into the banks … but they have another way to move things along. They put money on the Cards…to test them. They have millions of dinars on them … they just haven’t released them to the citizens yet.  Only Dr. Shabibi knows what’s going on.   Dr. Shabibi is the Governor of the CBI.  He has the permission to release the rate – no one else! Many things are ready to be activated.  The amnesty law is key…The amnesty law will protect the citizens and Dr. Shabibi. Everyone is ready and wanting Dr. Shabibi to use the green-light. Iraq is not planning on staying with the program rate of 1166! They are not giving up. They are not telling the IMF that they are not going to use the green-light! Dr. Shabibi continues his chess-movement…moving from check…to checkmate…(very soon…in my opinion).   Nothing can stop this…Nothing cannot stop the monetary reform  – not even our President.
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Kaperoni - Article:  “The central bank to take new action to stop the decline of the dinar” Quotes: ”decided to consider Saturdays of each week normal working days,” noting that “this action will be effective in the day on Saturday the 20th of June the current.”  &  ”decided to reduce the deposit period for feeding the external accounts of banks amounts. The bank added that the “reduce the deposit will be from ten days to five days, and as of next July.”    Well so now we know what the new measures are…they are going to sell on Saturdays and they are going to increase the amount of dollars.   It continues to amaze me that for years the IMF tells them the same thing all the time, yet this is about the 5th time over the last 8 years they do the opposite..as if they think they know better and the result is always the same…the market rate slides.  There is really no excuse for such poor management of the currency which all started with Maliki interfering.
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Frank26 - …our studies of 30-40 cents is not going to work based on what Shabibi is doing all over the place. And, if the rate came out to $3+, the rate would be detrimental to the reform, IMO…the banking structure not only in Iraq but worldwide, wouldn’t be able to sustain a $3-4 thrust…based on what we’ve been studying for the last few weeks and…one reason is they need to educate the citizens.  We believe this will bring it to a 1 (Iqd) to 1.16 (usd) because the exchange rate 1166…the engineering of the mathematics have been pounded with the monetary reform very well. As much as there was confusion with this rate, that rate, whatever…we come to you with a strong opinion that this roughly 98 cents to $1.16 is somewhere in that range in their calculations.
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Dinar Afternoon Drive Call!!

Dinar Info w/BGG – from 6/16

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

Smart phone user link – Click here

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Kaperoni - From CBI – “The /all banks (convert dollar amounts)“  The message is only one sentence and here it is…”This is to all banks:  The instructions regarding drawing of dollars will end on 5/25/15, pending further instructions.”  I wonder if this is a typo, meaning 6/25/2015.
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tman23 - Point to be made on that 2011 article….This past November Jabouri hosted CBI Governor (Ismail) and interrogated him for the delay of lifting the 3 zeros…….Today they speak of releasing these high denom notes 50k and 100k and have the Parliment of Finance throwing daggers at the CBI and bringing up the subject of 3 zeros……… So as we have been saying….. The argument, the internal fight, the political struggle, the austerity and suffering…..It is all about the 3 zeros !!!!!!
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Mnt Goat - It is confirmed that Ali Aler is still the Central Bank governor not  Sinan al-Shibibi.  Also an article that came out this week by Sinan al-Shibibi himself and in it he is talking about the independence of the Central Bank and how actions of the Finance ministry and Parliament is interfering with its ability to curve inflation and restore economic growth in Iraq.   It is an excellent article and it tells us that Shabibi is advising behind the scenes, but this is his ONLY role. So for now he is still not back in office officially. But as I have said many times we will not see an RV until he is reinstated officially and is once again the “official” governor of the Central Bank of Iraq.
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BGG – [looks like it is heading the wrong direction] Nope – not at all… this struggle, the very one (between the CBI and GOI) I have been talking about for the last few days…won’t be without twists and turns…the CBI (Alak) doesn’t want to lose control of the money…or Maliki that is (thru his “proxy”). The PM, Finance Committee, Economic Committee and the CoM…all want the best for the people and for Iraq.

Alak is looking out for his pal Maliki… [he is a proxy--why cant the remove him? I saw an article earlier where Al Sadr stated that Maliki is trying to overthrow the Al-Abadi government]. That’s not big news. I’ve been saying that those were his plans since last October. [you were correct...] They may well deal with him (Malik) – it looks like to me they are gearing up for it.

The fact that Sadr is accusing him publicly IS BIG NEWS…This is the headline – they are ramping up to accuse him of TREASON. You watch. [WOW]
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Aggiedad77 - Dr. Shabibi is in my opinion making a very strong pitch as to why he needs to be back at the helm of the CBI…he knows…he understands…and he has the backbone to stand up to the government…  When he says that Iraq is not a safe place to bring investments he is referring to the need to get laws passed that sit on the table today within the Parliament that will provide that security for investors and remove much red tape and strive to eliminate corruption from the investment process that was allowed to run rampant in years past.  I see Dr. Shabibi and PM Abadi as saviors of the Iraqi economy…saviors of the Iraqi people…and kingpins in great things that can stem from Iraq that will help the whole global economic process.  [post 3 of 3]
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Breitling - And guess what…I’ve been talking about it for 4 or 5 years this is how they can end up doing this and I was right.  So what currency denomination can we sit on until it is 1 dollar and then what denominations can we sit on until the 3 dollars value?  watch the numbers and you don’t need anyone else’s opinion.  With all the drama that’s going on, has any of those numbers changed?  no.  We are in a phenomenal position.  Do I know how long or what increments?  No I don’t.  that’s why we are speculating.  But they reduced the note count and not only that but they were talking about how they were going to eliminate different denominations while they are adding value to their currency.  And I’ll be damned if they are not doing that.  I was the only one on the planet that I know of that called it.  Is that a guarantee that it’s going to go…no.  …If someone says that they feel the dinar is not going to go up in value?  The CBI thinks otherwise.  this is a business plan for a country for everyone to see.  Who’s in charge of the value of the dinar?  The CBI.  [post 3 of 3]
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home7

Iraqi Dinar/Dollar auction 06-15-15

Currency Auctions Announcement No. (2972 – the most recent listing)

This daily currency auction was held in the Central Bank of Iraq on the 06-15-2015

The results were as follows:

DETAILS NOTES
Number of banks 21
Number of remittance companies 3
Auction price selling dinar / US$ 1166
Auction price buying dinar / US$ —–
Amount sold at auction price (US$) 155,229,946
Amount purchased at Auction price (US$) —–
Total offers for buying (US$) 155,229,946
Total offers for selling (US$) —–

More: http://dinarupdates.com/observer/
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Aggiedad77 - Dr. S is very with it in this regard and sees what has been done to the CBI as a stripping of their autonomy and forcing them to suddenly become subservient to the very government they should not have to answer to…he points to the seriousness of what the Finance Committee has implemented as a cause for a reduced effectiveness by the CBI in their monetary policies to fight inflation…something the CBI has managed beautifully for at least 10 years. Dr. S further points to the loss of autonomy by the CBI as a potential issue when it comes to such things as inflation and stability of the IQD…stating that the Finance Committee’s actions will lead to a collapse of the real value of the IQD…What many are missing here is Dr. S pointing rather blatantly to the idea that the government wants what the CBI…their reserves….he reiterates what has been said several times this year that the CBI reserves exceeds the money on the street by fully 1.5 times…how many times have we heard that….a strong indicator for the CBI.  [post 2 of 3....stay tuned]
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Mnt Goat - Many are now saying that there will be an RV by the beginning of Ramadan (just 2 days from now). …these statements since they based their assumptions mostly on a totally misinterpreted translation of a speech that Abadi gave to the citizens of Iraq wishing them prosperity and abundance during Ramadan, which begins on June 17th.  As we know Ramadan is a time of fasting but it is also a time or rejoicing and celebrating. Many gifts are shared. So it would be very fitting for the prime minister of the country to wish his citizens good tidings during this holy season. Everything is not about the RV.  I can guarantee it is not going to happen by Ramadan and there is a strong possibility it may not even happen during Ramadan unless the three presidents  (or main leaders  incuding Masoun, Abadi and Jubouri) can somehow reconcile the differences between the Kurdistan and the Baghdad government and they can get this security problem under control
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Aggiedad77 - Article quote:  “Iraqi money market live in the present state of instability was the collapse of the market rate of the dinar, which amounted to 1340 dinars to the US dollar while the official price of about 1190 dinars to the dollar, although the size of the reserve is still great, which is considered a key factor in the stability of the currency.“  Dr. S is quick here to point to the differences of the official price of the IQD to the USD (1190) and the street market value (1340) and he says even with the discrepancy the CBI reserves remain strong indicating the true strength of the Iraqi currency…  Quote: ”…the central bank has lost its independence and became a bow to the decisions of the government and parliament…“  He quickly points to the fact that problems exist due to the limitations attached to the CBI by the Finance Committee and Parliament which also hampers or hamstrings the CBI from defending itself because of the limitations applied by Article 50.  [post 1 of 3....stay tuned]
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CURRENCY CODE SELL BUY

US dollar USD 1166.000 1164.000

CURRENCY CODE SELL BUY
US dollar USD 1166.000 1164.000
Euro EUR 1308.019 1307.365
British pound GBP 1807.067 1806.163
Canadian dollar CAD 946.198 945.725
Swiss franc CHF 1249.196 1248.572
Swedish krona SEK 141.930 141.859
Norwegian krone NOK 150.140 150.065
Danish krone DKK 175.344 175.256
Japanese yen JPY 9.443 9.438
Special
Drawing Rights
SDR 1637.530 1636.712

Indicative rates – 06.16.2015

http://www.cbi.iq/

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Millionday - Emirate Economist: that on the central bank to work as a government exercise its functions within the state general framework said, but for this institution privacy in making independent decisions with regard to monetary policy, which must be consistent with the general economic policy of the state because the bank is one of the issues the currency and run by a government and its agent and financial adviser Bank…“   THIS IS SAYING THAT EVEN THOUGH CBI IS INDEPENDENT — THE GOVERNMENT AND CBI HAVE TO WORK TOGETHER THROUGH POLICIES – MEANING THEY NEED TO COMPLIMENT EACH OTHER FOR THE GOAL AT HAND –TO REGULATE CREDIT AND THE COUNTRY`S BANKS ETC.  SO — THE ONLY THING THAT IS GOING TO MAINTAIN IRAQ IS THE POLICY AND THE MONETARY POLICY — THE ECONOMIST IS STATING THAT EXCHANGE RATES AND IRAQ`S MONETARY POLICY HAS TO MOVE FORWARD AS IT HAS GLOBALLY IN THE PAST —THEY ALL HAVE TO WORK TOGETHER.
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Breitling - …But here’s the deal, I told the guys let’s watch the note count if they start throwing a bunch in we are going to have to worry about what it is we did.  Guess what they did?  They started adding more and more notes.  They went from 4 billion notes to 9 billion.  But Shabbi kept saying once the economy reaches a certain point they were going to reduce the note count by 70% and they were going to add value to the currency and that’s what kept me in the dinar knowing they were adding more and more notes to the note count…that means they were diluting the value of their currency.  When the report came out that they went from 9 billion to 6 billion notes that was a big deal to me.  [The question was] How long can we sit on this currency.  This was the first time I had heard that they were going to retire certain notes…that’s highly unusual… [post 2 of 3]
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BGG ~ [There seems to be a lot of talk about the 2016 budget. Why cant Iraq pass the 2016 budget and take money from it to pay their 2015 bills?] Great thought – why can’t I do that too?? Simple – it’s about income stream (as well)… I’ll just run down to the bank and tell them I need to overspend – dip into my 2016 “budget” and not to worry - those pesky “over drafts” will work out next year. 

[Just trying to think like Maliki would] His plan is to cause so much chaos he over throws the current regime… no matter how much damage he causes along the way. I could almost see Abadi declaring a “short, temporary, State of Emergency”… and wouldn’t it be IRONIC if the one thing Maliki wanted more than anything is the mechanism they use to deal with him once and for all??

I’m a huge fan of irony – the very weapon he planned to use against everyone else may wind up being the “Silver Bullet” they use to extricate he and Ali al-Alak from the CBI and their political scene – once and for all… Of course, all of this is “what if… out loud…” – I’m not even sure I would call it speculation…

Read More: http://dinarupdates.com/blog/
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home7

Iraqi Dinar/Dollar auction 06-11-15

Currency Auctions Announcement No. (2970 – the most recent listing)

This daily currency auction was held in the Central Bank of Iraq on the 06-11-2015

The results were as follows:

DETAILS NOTES
Number of banks 26
Number of remittance companies 0
Auction price selling dinar / US$ 1166
Auction price buying dinar / US$ —–
Amount sold at auction price (US$) 165,986,725
Amount purchased at Auction price (US$) —–
Total offers for buying (US$) 165,986,725
Total offers for selling (US$) —–

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

BGG ~ Am I the only one seeing these erratic postings of CBI currency auctions?? Weird – really weird.

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Breitling - I remember my business partner telling me about the Iraqi dinar.  And asking what do you think?  I said let me take a look…I need to look at how much currency they have out there and what are they doing.  If they are adding MORE then we don’t want to touch it.  And guess what they were doing?  Adding More.  But normally I wouldn’t touch it but I found a report talking about the IMF saying the dinar was listed at a tenth of a penny (just like it is now) but was  actually worth 4 cents per dinar.  And oh my god that was a big deal…we bought tons of dinar…just at the idea that it would come in at 4 cents… [Post 1 of 3]
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Millionday - [how do you see investments & all the good economic news affecting the issue with ISIS?]   THE IMPACT THAT ISIS HAS HAD ON IRAQ IS COUNTLESS — WE CAN TALK GLOBAL EXPENSE OR WE CAN TALK THE HUMAN LOSS… SO MANY WORKED SO HARD AND GAVE SO MUCH TO MOVE IRAQ TO A POSITION OF TRADE AND WEALTH AS THE PRODUCTION OF OIL DESIGNS FOR THE COUNTRY — THE IMPACT THEY HAVE HAD IS ONE THAT CAN NOT BE MEASURED – WILL THEY MOVE FORWARD WITH THEIR POLICIES AND DEVELOP DESPITE THEM? YES.
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tman23 - Maliki will always be a concern because of the large crowd he has in different institutions… But Tehran calling for the Shia to improve relationships with the Kurds is a huge sign that Tehran has deep fear of a Kurd independence being a reality. This whole Iraq event is at a breaking point…
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There was a problem with the 6/14 recording – We are working on it.

We had to change our Pin numbers. If we recover the data – we’ll re-issue new Pin numbers (and a Link).

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Millionday - [in your opinion do you think the MR (monetary reform) could still happen before Ramadan?]  THE REFORMS HAVE BEEN PROMISED IN MANY STATEMENTS RECENTLY — THE TIMING NO ONE KNOWS – I DO NOT KNOW WHEN AND KNOW THAT NO ONE DOES — WE WATCH THE NEWS.
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Backdoc - THERE ARE TOO MANY THINGS THAT POINT US TO A NEAR TERM GREEN, GREEN, GREEN!
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Breitling - We know that the target rate from the CBI is a buck.  From that point they are going to go to 3 plus.  And how do we know?  Cause the CBI made that statementhow long can you and I sit on the currency to be able to take advantage of this?  We don’t know.  That’s why we are always watching the notes and the numbers…to figure out how far we can go.  that’s us watching our investment.  The empirical data comes from the CBI, they are the ones that made the statement they want to get the dinar to a dollar (actually it’s a $1.17) then they want to get the dinar to 3 plus…nothing has changed.  It doesn’t matter the drama…nothing has changed.
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Commercial Solicitation

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tlm724 - they have the ability to move into a free market but the fight against terrorism and corruption is not easy to overcome. I am not making excuses for them I am just stating the obvious. Iraq is slow and we know it!  it’s like pulling teeth just to get them to do one major change but the desire is there from some very smart people and to overcome the obstacles is difficult, Abadi has an economic plan and he is trying to get it done! Maybe a change in leadership of the CBI will make a difference too.
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wmawhite - [Emir is the Ruler of Kuwait.]   Kuwait is monarchy…a ruling family…the Top Dog with the globe’s top currency.  1 KWD = $3.55.  [I don't think any other country even comes close to Kuwait...Yet.]  I believe you are correct.  [Didn't Iraq surpass Kuwait in oil production a year or 2 ago?  Second only to the Arabs.]  It has surpassed Kuwait at least 2 years ago.  Iraq is second only to Saudi Arabia.
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Aggiedad77 - I’ve been of the opinion that anything of a global type business sense within Iraq would move forward even during Ramadan…they don’t shut everything down…the country continues to run and to me…that makes an RI/RV fair game …maybe things are curtailed at certain times during the day, but commerce and business does continue…as does the government…
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Sunday Afternoon Dinar Call!!

Live Q & A w/BGG – from 6/14

Click the call banner in upper right corner!!

from 6/11 - Smart phone user link – Click here

There was problem with the recording… Sorry

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tlm724 - The CBI has control over the monetary system period! They are autonomous, holding the power over the whole of Iraq’s monetary policy!  central bank recently issued new instructions stipulate that responsibility for the provision of securities and cash foreign for remittance of foreign currency, and this is contrary to the principle of the free movement of money and the implications on foreign investment.  CBI is a bit off track!  I recently said they have done things backwards!  the CBI’s lack of control is causing a huge ripple effect throughout the currency market! The cause is lack of control and oversight, the effect is a continuous descent of the value of the dinar. The fix is still to be determined…Wink.
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tman23 - Maliki will always be a concern because of the large crowd he has in different institutions…….. But Tehran calling for the Shia to improve relationships with the Kurds is a huge sign that Tehran has deep fear of a Kurd independence being a reality. This whole Iraq event is at a breaking point…….. Money doesn’t buy happiness……..But it sure solves a lot of problems…….and allows you to choose your own misery…….
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Aggiedad77 - Determine the August/August as the date for the next elections presidency of the region  So President Barzani is saying that August will see a new election day for the Kurds…does not say anything about whether the Barzani family will be allowed to continue in their current reign as President and PM…but I’m thinking that is doubtful.
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BGG ~ Ok – so stop and think about this for a sec…

Iraq’s 2015 Budget was roughly 119 Trillion IQD…

Today is June 13th 2015 – almost EXACTLY half way thru the year…

The other day they went public with their “true deficit” as 30% the budget… (of 119 Trillion IQD) – in other words more like 40+ Trillion IQD (roughly all of their currency in circulation is their deficit – JUST THIS YEAR – or 40 Billion USD).

I have been saying this – right?? The deficit was waaaaaaay more than 25 Trillion (IQD)

So 50% of their budget and remaining year is likely GONE…

Surely they have spent the full budget allocation during the first half of the year…

So they probably have only 20% of their budget left (of 119T IQD) to cover 50% of the remaining year…

At a current rate of a bit over 10 Trillion IQD per month… they have a tiny bit over 2 months before they run out of money completely.

They aren’t like the US where we turn on the printing presses and have a “QE1, QE2, QE3″ and make wealth out of thin air.

So where will it come from??

This is the question… and has no one bothered to read the fine print on the loan articles??

They aren’t even close to actually getting the assistance – and even if they were, the loans were only for like 833 million USD… 9 million USD (grant)… 5 billion USD (if they GET a credit rating and their bond issues sell… lots of “if’s”)… and not until well past July… Further, it really has the feel they are being slow walked. After all the “good will” Abadi got during his visit to DC – it appears there was an “IF” he didn’t hear or hasn’t “ponied up” with yet. IF you do XYZ, we’ll give you XYZ…

Is anyone curious about the early August time-frame for Customs (tariffs)?

All those numbers put together aren’t even CLOSE to 40 Trillion IQD (and they may need more than that if oil prices keep falling)…

So – I ask the rhetorical – were do you think they will get 40 Trillion IQD in spending power between now and the end of the year??

The GOI needs buying power. They are in the same boat as us.

If they change the value of their currency – the GOI benefits greatly – just like you.

Their budget problem goes – POOF!! If they increase the currency value (even a little) the GOI benefits just like you – they have have the buying power  they need for “internal projects”.

Read More: http://dinarupdates.com/blog/
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tman23 - The rhetoric of Abadi to call for a State of Emergency IMO is more of a leak from the State of Law……… Most are confusing this with dissolving Parliament etc….which is the State of Law doing what they do, causing chaos !  Remember, Maliki wanted a State of Emergency but had to seek Parliament voting because the government was in a “caretaker state”…….. Abadi is the PM, the government is not in a “caretaker state”, and a declaration of a state of emergency is with in the power of the Prime Minister. I do believe (not positive) that there is a time period of 12 days and then it requires Parliament to extend the state of emergency. The calling of a “state of emergency” provides some broad powers, especially to remedy what threatens the state. And anyone seen as acting against the state in the dawn of the declared emergency can be treated as treason against the state…….. This is tool for Abadi that I certainly overlooked, but the timing the possibility is suspicious….
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Poppy3 - I COULD CARE LESS ABOUT THEIR DEALINGS. I COULD CARE LESS ABOUT THEIR LOANS, THEIR POLITICS ETC UNLESS IT EFFECTS MY POCKET BOOK AND POSSIBLE RATE OF EXCHANGE OF MY DINAR. BOTTOM LINE IS THEY NEED $$$$$$$$$ AND MORE THAN THEY CAN BORROW UNLESS THEY HAVE AN APPROVED CREDIT RATING AND VALUED CURRENCY.   ITS SHOULD BE OBVIOUS TO ALL OF US THEY ARE AT A PANIC STAGE.  ABADI WORKING DAY AND NIGHT ALONG WITH MANY KEY LEADERS TO GET TO THE POSITION OF FULLY FUNDING THEIR BUDGET AND MOVING THE COUNTRY FORWARD WITHOUT GOING BACKWARDS.  DR SHABIBI STATED THEY NEEDED A MEDIAN RATE THAT THEY COULD MAINTAIN AND STILL GROW THEIR ECONOMY FOR 24 TO 36 MONTHS.  NOTHING NEW HAS BEEN SAID FROM CBI LEADERS TO CHANGE THAT.  
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Aggiedad77 - Article:  “Central bank: borrowing from the IMF will achieve the required targets Iraq“  The governor of the CBI is speaking out today with regard to the pending potential loan from the IMF for $833 million dollars, stating this will aid supporting the budget as well as reducing the deficit…well yes to both…certainly such an amount would help the budget and potentially reduce the deficit “some”…but not significantly IMO…What it can perhaps do on a more positive note is improve Iraq’s credit standing and allow them a higher credit rating…this having merit when you rethink the international bonds they are trying to move and need as good a credit rating as possible to make them look as lucrative to investors as possible…one scratch leads to another…building confidence in Iraq on a global level.
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home7

Iraqi Dinar/Dollar auction 06-10-15

Currency Auctions Announcement No. (2969 – the most recent listing)

This daily currency auction was held in the Central Bank of Iraq on the 06-10-2015

The results were as follows:

DETAILS NOTES
Number of banks 18
Number of remittance companies 2
Auction price selling dinar / US$ 1166
Auction price buying dinar / US$ —–
Amount sold at auction price (US$) 141,118,179
Amount purchased at Auction price (US$) —–
Total offers for buying (US$) 141,118,179
Total offers for selling (US$) —–

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

BGG ~ Am I the only one seeing these erratic postings of CBI currency auctions?? Weird – really weird.

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Mnt Goat - We should all now focus on only three (3) major items at this point in time. My timelines below are just my perception of how this may all play out. In the next couple weeks:  1)  getting the 1st and 2nd readings of this new oil and gas law  2)  getting announcements that they are about to hold a session to vote on the “package of laws” and that the package still contains what we need to complete the National Reconciliation.  Then to see them pass these laws and then begin the implementation process.  By the end of Ramadan (mid July).  3)  Our major news focus should be on coalition forces defeating ISIS and getting rid of Iranian militias and Nori al-Maliki.   I truly believe if we begin to see these events take root and move ahead we should also begin then to see articles slowly trickle out of the CBI telling us they are moving forward with the project to delete the zeros and currency reform (distributing the new lower denoms and the the 50k and 100k notes).
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Randy Koonce - I am writing this note to calm the people who are having trouble understanding what happen with the Sterling stuff and if you have been scammed or not… Is the Iraq money good? Yes it is unless you have sadam hussiens face on the bills. Why did the FBI raid Sterling… I read the doc and the charges they are all on BUSINESS PRACTICE NOT THE BILLS I have not seen any bills that Sterling sold that was bad…and unless you have Sadam Hussein face on a bill then you will be ok…The FBI said in a statement that it was not going to RV…No they did not they were quoting a partner who at the time did not care because they were making lots of money…Why did GID and others get shut down… because they were partners to Sterling.  What does this mean to me… It means you are ok if you are holding dinar and as soon as Barzani gets enough pressure on Obama to be paid you will see the RV…We are close. Every large bank will exchange.  RELAX the RV is coming… Barzani is the Person that has to be paid… and Iraq nor the US can do this without Money and the only way for that is RV…
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Frank26 - I strongly believe the IQD’s MR (Monetary Reform) is at it’s highest point of advancement compared to all the years of past.   IMO…The speed is also accelerated.
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As currency dies, Zimbabweans will get $5 for 175 quadrillion local dollars

By MacDonald Dzirutwe

A man holds up newly issued 200 million and 500 million Zimbabwe dollar notes in the capital Harare

HARARE (Reuters) - Zimbabweans will start exchanging ‘quadrillions’ of local dollars for a few U.S. dollars next week, as President Robert Mugabe’s government discards its virtually worthless national currency, the central bank said on Thursday…

The RBZ said customers who still have stashes of old Zimbabwean dollar notes can walk into any bank and get $1 for every 250 trillion they hold.

That means a holder of a 100 trillion bank note will on Monday get 40 cents. The RBZ has set aside $20 million to pay Zimbabwean dollar currency holders…

Read More: http://dinarupdates.com/blog/
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Mnt Goat - They announced that a NEW OIL AND GAS LAW is going to be presented soon. This is what is holding up parliament. This is what is also holding up the National Reconciliation Reforms effort. I believe that once this new draft of the HCL bill is completed, it will have its first and second readings then become part of a “package” of laws presented to the legislature for a vote. 
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Millionday - [...do they have to have a reality rate before they release the new bills/coins?]  IT DEPENDS ON WHAT THE DENOMINATIONS ARE THAT THEY RELEASE AS TO IF THEY ARE USEFUL AT WHAT RATE —  …WE HAD A REQUEST FROM PARLIAMENT FINANCE COMMITTEE ASKING FOR A FREEZE ON THE RELEASE OF THE LARGE DENOMS – THEY WERE STATING THAT IT WOULD BE A RISK OF HUGE INFLATION…
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Enorrste - …a given currency’s strength is determined by its reserves.  Iraq has the largest reserves in the world in comparison to the value of its money supply.  Therefore it is the strongest currency, irrespective of the fact that the locals prefer dollars.
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Millionday - [...do they have to have a reality rate before they release the new bills/coins?]  IT DEPENDS ON WHAT THE DENOMINATIONS ARE THAT THEY RELEASE AS TO IF THEY ARE USEFUL AT WHAT RATE —  …WE HAD A REQUEST FROM PARLIAMENT FINANCE COMMITTEE ASKING FOR A FREEZE ON THE RELEASE OF THE LARGE DENOMS – THEY WERE STATING THAT IT WOULD BE A RISK OF HUGE INFLATION…
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Jubouri says he discussed arming Sunni tribes and joining security forces with Obama and Biden

Shafaq News / The Speaker of the Iraqi Parliament, Saleem al-Jubouri said that he discussed with US President , Barack Obama and Vice President, to speed up arming Sunni tribes and integrate them with the security forces…

Read More: http://dinarupdates.com/blog/
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Mnt Goat - One token of news this week is we heard once again the pressure to formally reinstate Dr Shabibi as governor of the CBI. In the article it talked about having a qualified. experienced individual as head of the CBI and to allow this office to work independently of the government of Iraq. So from this we know Dr. Shabibi has NOT yet been formally reinstated to the CBI. But we feel this is coming very soon.
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Enorrste - Therefore, I see this as a bold move on Saleh’s part.  I also see that it may be at the prodding of Abadi or at least with his consent.  Remember, Saleh works for Abadi.  He won’t open his mouth unless he has cleared his views first with his boss.  This, then, is an internal discussion between Saleh and Abadi, on the one hand, and Allaq, the head of the CBI, on the other.  It is, in essence, a statement from Abadi to Allaq telling him that, in his view, it is time to move forward with the change in the exchange rate regime. It would not surprise me if the change in the exchange rate regime occurred simultaneously with the issuance of the 50000 dinar notes. Now, the CBI is still autonomous, so we don’t know if they will take the bait or not.  Therefore, it is possible that nothing will come of this:  we have seen this before, many times.  Of course I could be wrong, but I just can’t believe that Saleh would recommend to anyone that the offical rate be reduced.  Hang in there.  If Saleh’s recommendation today comes to fruition we may actually begin to see movement in the right direction, finally.   [post 2 of 2]
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Aggiedad77 - Article:  “Expert (time): overlap FAQ encourage money laundering in the country“  The Finance Ministry is attempting to bring a halt to money laundering and smuggling of currency out of the country…they apparently have been struggling in this area and as a result have asked the US Treasury for assistance in monitoring what goes out of Iraq…who is sending, where is the currency going, how is it being used and such…in 2014 Iraq ranked 6th globally as a high risk of money laundering…not a list you want to be at or near the top of for sure.
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SteveI - …I am still being told by many that once Iraq has ISIS under control and they will fairly soon, then look out, it will be full steam ahead.
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Baghdad asked Washington to help to track down the stolen money 

It demanded that Iraq, Wednesday, from America to help him in tracking money laundering and exit of foreign currency operations .

BAGHDAD / Obelisk: Student Iraq, Wednesday, from America’s help in tracking money laundering and exit of foreign currency operations, in countries stressed the importance of exchanging information on the mechanisms for organizing “Daash” the sources of internal and external funding …

http://www.dinarupdates.com/showthread.php?15594-The-Dinar-Daily-Wednesday-June-10-2015&p=115833&viewfull=1#post115833
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Millionday - [I find this article's timing is interesting. The United States of America is the one behind the FBI investigation on Sterling and the complaint is now public record. Money Laundering is the offense.]     I THINK THAT OUR PROTECTION IS OF THE UTMOST IMPORTANCE AND DON’T KNOW ABOUT THE INVESTIGATION BUT AM GLAD THAT PROTECTION IS BEING ASKED FOR BECAUSE IT SHOWS THAT IRAQ IS AN ALLY BY HELPING IN GLOBAL PROTECTION AS WELL.  [post 2 of 2]
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Enorrste - Article quote:  “Economic Adviser to the Prime Minister called on the appearance of Mohammed Saleh, to adjust the exchange rate by the central bank.“  As I see this Saleh is advocating…for the CBI to go ahead NOW and move to a floating currency.  Once the official rate is the same as the street rate, then the demand for dollars becomes meaningless, right?  If I have to pay a commission to someone to buy dollars when my dinars are going to go up and down just as the dollar does, why would I do that?  I wouldn’t.  Remember, what happens WITHIN a country is different than what is happening OUTSIDE the country.  We know that with our own currency:  it goes up and down outside the country, but is still “just a dollar” at home.  The same will happen with the dinar:  it will be “just a dinar” and no “difference” inside the country between it and a dollar will matter.  Once the incentive to buy dollars is removed by changing the exchange rate regime, then the fire to abandon dinars in favor of dollars will go out.  At that point, market forces will come into play and the dinar will rise in value…once it is set free natural market forces will show that it is actually STRONGER than the dollar.  This won’t take long, either, because if they change the exchange rate regime then that means that OTHER people besides locals will have access to the currency.  This includes speculators.   [post 1 of 2....stay tuned]
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Millionday - Article quote:  “Iraq asked the United States to help him in tracking money laundering and exit of foreign currency operations.  A statement from the Ministry of Finance and received “The Minister Hoshyar Zebari asked the Assistant Secretary of the Treasury for combating the financing of terrorism and operations, US money laundering Daniel Glazer during his visit to Iraq to help his ministry to track money laundering and exit of hard currency out of the country to foreign banks’ operations.“  OF COURSE THIS IS WONDERFUL NEWS DUE TO THE THREATS TO THE GLOBE AFTER 9/11– THEY HAVE MADE MANY STEPS TO ENSURE THAT TERRORISM IS NOT FUNDED THROUGH MONEY LAUNDERING AND FRAUD TO PROTECT US ALL —  THEY HAVE ASKED THE UNITED STATES TO HELP TO MONITOR THAT NO MONEY IS BEING USED BY TERRORISTS SO THEY ARE DEPRIVED OF FUNDING.  [post 1 of 2....stay tuned]
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Dinar Afternoon Drive Call!!

Dinar Info w/BGG from 6/11

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

Smart phone user link – Click here

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Poppy3 - Iraqi Dinar Revaluation READ THIS AND REMEMBER OLD POPPY3 INFORMED YA’LL YEARS AGO THAT $4.3 TRILLION DINAR WAS DELIVERED TO THE UST … DOESNT SOUND LIKE THEY NEVER PLANNED ON RV DOES IT.  
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sczin11 - I AM NOT SAYING THERE WILL NOT BE OTHER AND FURTHER INVESTIGATIONS, BUT, THE FBI WOULD NOT TELEGRAPH THEIR HAND, IF OTHERS WERE INVOLVED IN THE IRAQI DINAR SCAM, WHERE REAL PEOPLE WERE BEING MANIPULATED IN THE WRONG WAY.  INSIDER TRADING, PUMPING AND DUMPING, THE WOLF OF WALL STREET…THESE ARE EXAMPLES OF ILLEGAL BUSINESS PRACTICES… SCAMS!  IRAQ AS A NATION WILL THRIVE…THE WORLD AS A WHOLE WILL BENEFIT FROM THEM…AND MOST IMPORTANT OF ALL, THE CITIZENS OF THAT WAR TORN, POVERTY STRICKEN COUNTRY, WILL SURVIVE AND PROSPER!  [post 3 of 3]
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Millionday - Quote:  “To / banks approved the exercise of all banking and financial companies approved the conversion of all ( Help sale and purchase of foreign currency) 10/06/2015“  THIS IS A NEW ORDER SENT TO BANKS BY CBI…SO AS WE SEE THE APPROVAL HAS BEEN GIVEN TO BANKS TO CONVERT ALL FOREIGN CURRENCY – THIS IS A NEW APPROVAL DATED TODAY
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Parliamentary Finance demanding exemption Keywords and appoint a person to manage efficiently the central bank 


BAGHDAD / JD / .. the parliamentary finance committee demanded, to exempt the Governor of the Central Bank on the Keywords and the appointment of a professional person and efficient central administration, as pointed out that decisions Keywords not hit the interests of the monetary policy in the country. Committee Chairman Ahmad Chalabi told / JD /: “The Central Bank is one of the large and sensitive economic institutions in the state and must be independent and not subject to quotas partisan.” He added that “all decisions of the current governor of the Central Bank on the Keywords do not serve the interests of the monetary policy in the country”, calling for “relieved of his post and appoint an independent person and has a professional and economic and financial expertise and efficient management of the Central Bank” ./ ended / 8 /

http://www.dinarupdates.com/showthread.php?15594-The-Dinar-Daily-Wednesday-June-10-2015&p=115840&viewfull=1#post115840
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sczin11 - UNTIL SUCH A TIME, IF EVER, (never IMHO ) THE DINAR GETS PULLED OFF THE MARKET BY THE CBI, AND EITHER NEW NOTES ARE RELEASED, OR THEY GO TO ANOTHER CURRENCY FOR EVERYDAY USAGE, THE IRAQ DINAR IS REAL, AND IS NOT A SCAM, PERIOD!  WHAT WILL HAPPEN TO THE EXCHANGE VALUE OF THE IRAQI DINAR, OVER TIME, HOW HIGH OR LOW, HOW FAST OR SLOW, THE PUMPING AND DUMPING, THE CONTINUOUS PREACHING OF INSIDER INFO…DECEPTIVE SELLING PRACTICES…THAT IS WHAT IS BEING QUESTIONED HERE, IMHO.  IF THE DINAR WAS A SCAM, WOULDN’T ALL OF THE EXCHANGERS OFFERING DINAR, HAVE BEEN SHUT DOWN AT THIS POINT?   [post 2 of 3....stay tuned]
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Tlar - They have a delete the zero program if they ever will want to institute it.  We as individuals have to decide for ourselves whether we think the currency will go up or down.  We are no different than any other currency speculator.  Nothing you or I have done is illegal and the dinar is not a scam… We wait patiently for Iraq to fix itself and help its citizens in the hopes that we too may complete the dream that George Bush had for Iraq when he allowed us to individually invest in this currency.  When the then seated President of the United States allowed us to buy a US Treasury OFAC listed currency from a country under Chapter VII sanctions , directly from the big banks here in the US.  I bought alot from Chase and Bank of America.   [post 2 of 2]
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sczin11 - …WITH REGARDS TO…THE 48 PAGE DOCUMENT OF CIVIL ACTION, WITH THE USA LOOKING FOR SEIZURE AND FORFEITURE OF THE ASSETS OF MANY PLAYERS AT STERLING CURRENCY GROUP, AND RELATED ENTERPRISES…AT THIS TIME, I DO NOT WANT TO GET TOO DETAILED WITH MY OPINIONS, RATHER JUST STATE FACTS THAT SHOULD PUT SOME MINDS AT EASE…AT THIS VERY MOMENT IN TIME, THE IRAQI DINAR, IS THE CURRENCY OF IRAQ… IT IS NOT A PIECE OF PAPER PRINTED ON A DESKTOP PRINTER… IT IS NO DIFFERENT THAN THE US DOLLAR IS TO US…IT HAS A VALUE, AND CAN BE BOUGHT AND SOLD AT CURRENT MARKET VALUES…THE DINAR AT THIS TIME, IS NOT INTERNATIONALLY RECOGNIZED BY ALL FINANCIAL INSTITUTIONS, THUS THE NEED TO FIND EXCHANGE DEALERS WHO DEAL WITH THIS CURRENCY…IT IS NOT A COLLECTIBLE, AS IT IS IN FACT, USED IN THE COUNTRY OF IRAQ…UNLIKE THE ZIMBABWEE DOLLAR, WHICH IS NOT USED ANY LONGER…  [post 1 of 3....stay tuned]
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Backdoc - This is a matter of “WHEN”…not “IF” this is going to happen. The timing of the monetary reform…I believe…based on the knowledge I have…it will be before mid-JulyThe reason why I believe it will happen before mid-July is because without it the economic and financial situation (globally) will start to collapse and have significant problems.  We are not the only ones feeling the pain.  Ramadan being a holiday that is observed by the middle-eastern countries is important…but it doesn’t stop global commerce from happening.   Ramadan is not holding this up.
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Check out the Dinar Corp 120+Max – it’s EQUITY!!

Commercial Solicitation

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Tlar - [Referencing Sterling Currency Court Document]   The scam they are talking about is not the physical dinar itself but the  system Sterling used to increase its sales.  The governments wants this operation closed…This is a serious charge and will most likely be seen by the courts as a scam operation and will probably end up in seizure of the assets from this operation as the FBI wants.  Personally as far as I am concerned I pay more attention to Iraq…It is Iraq’s currency that we own.  Iraq is a sovereign country and not part of the US.  Ultimately Iraq will decide its own fate as to the value of their currency.  Unless everything has changed, they have told us in the past that they want to add value and purchase power to their currency.  [post 1 of 2....stay tuned]
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Kaperoni - [Referencing Sterling]   I agree with Bob and other posters or I would not have spent years of my life finding information on what Iraq is doing.  I soundly believe that the dinar will rise in value as Investors/investment comes into Iraq.  It hopefully will be as Enorrste coined…”the wildwest of the middle east.”  It just is going to take time to create that environment so it can happen.  This particular dinar dealer does not change that reality.
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Adam Montana - [Any news on Sterling Group in Atlanta?  If so...any effect on my dinars?]  Lots of news, but the important thing for us is the second part of your question.  There is nothing about the Sterling story that affects our dinars.
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Throwback Thursday

The Exchange Rate of Foreign Currency in Economic Feasibility Studies 

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

Estimate the shadow price of foreign currency:…

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

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