THE DINAR OBSERVER DAILY Jan 31st

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*** Current Posts ***

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Delta - Article quote:  “The Director of Rafidain Bank in Dhi Hussein Al-Abbadi said in an interview televised moved local enter Nasiriyah TV ATM markets and banks is subject to the application of the decision to delete the zeros of the Iraqi currency…“    IT LOOKS LIKE THEY GOT THE GREEN LIGHT FROM CBI.  URGENT FROM IRAQIA TV:  February 12 starting economic strategy.  ABABDI WITH THE HELP OF CBI WILL SEE CHANGES BEFORE THE 12TH.  YES WE SHOULD ALL START THE CELEBRATION.
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Shredd - [this is the first time they have ever capped the auctions!]  the CBI capping the auctions which have the primary role of stabilizing the dinar means a great amount of stability has been realized with the dinar…this is also a huge step with the project to delete the zeros, very very telling imo.
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Millionday - [do you think we are still on the 15 day schedule for the signing of the Budget?]  THE PRESIDENT TOLD PARLIAMENT THEY COULD NOT TAKE A HOLIDAY TO RUSH THE BUDGET AND CBI HAS FUNDED THE DEVELOPMENT BANK SO I WOULD THINK IT WAS SOONER DUE TO THE HUGE RUSH AND THE CONFERENCES ETC THAT ARE SCHEDULED — BUT AT THE END OF THE DAY IT IS ALL UP TO THE PRESIDENT.  [Do you have access to the Gazette once everything is printed?]  THE GAZETTE IS NOT ON-LINE — HOWEVER IT WILL BE TOLD IN A PRESS STATEMENT SO IT WILL BE KNOWN RIGHT AWAY.
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Check out the Dinar Corp 120+Max – it’s EQUITY!!

Commercial Solicitation

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Frank26 - Article:  “Rafidain Bank announces the issuance of card “MasterCard” to its customers inside and outside Iraq“  There is no PROFIT for MC to do TRANSACTIONS at 1166.  This is not illogical …This is posturing.  This is simply …Good.
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Enorrste - It is my firm belief that the CBI is being forced to move ahead with the float specifically because the lower oil prices have essentially “hamstrung” them.   Quote:  “monetary policy is constrained in tackling the current shock.”  It is clear to me that the CBI is moving forward faster than ever now because it believes that it HAS to do so because of the financial crisis from lower oil revenues.  The only solution is to open market operations so that foreign investment can come in and reduce the “shock” referred to in this article.  The float will allow the investment to flow in quickly.  From the CBI point of view, the faster the better.  I still believe…that we will see this roll out within the next 30 to 60 days.  [Guru Kaperoni]  also agreed, with the caveat that the laws still need to get passed.  He is correct.  And, IMO, they will.
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EXOGEN - Article:  “Rafidain Bank issued card [MasterCard] to customers both inside and outside Iraq“  THIS IS BIGGER THAN GIGANTIC NEWS.   [Santa is on his way!!!! YES!!
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My Ladies - TODAY RAFIDIAN BANK GAVE OUT MASTER CARDS INSIDE OF AND OUTSIDE OF IRAQ. THIS TAKES US SO MUCH CLOSER TO INTERNATIONAL. THIS IS A PILOT PROGRAM AND A BIG STEP WHEN THEY ACTIVATE THE PROGRAM. THIS IS DESIGNED TO BE ABLE TO TAKE CASH FROM ANY MASTER CARD ATM TERMINAL, THIS NEWS IS MAJOR. SO NOW WE ARE WAITING FOR PRESIDENT MASOUD TO SIGN THE BUDGET AND THEN OFF TO THE GAZETTE IT GOES. THIS SHOULD BE DONE AT SOME POINT TODAY.  THERE IS QUICK MOVEMENTS TAKING PLACE AND WE SHOULD SEE THE END SOONER THAN LATER. THINGS ARE GETTING EXCITING…THE ANTICIPATION IS BUILDING AND VERY SOON REALITY WILL SETTLE IN BRINGING THE MAGNITUDE OF WHAT IS ABOUT TO HAPPEN TO OUR LIVES.
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Bondlady - so next the budget goes into the gazette and if no one contests it for I think 15 days then it’ll open…lets go over some of the things Iraq still needs to do now that the budget has been passed…the economic laws are most important as they need to protect and support the reform we are witnessing.  [do you think we will see the investment law?]  yes, they are working on the amendments to it now. …and with the auctions being low that could be very telling as to what the CBI is doing, dedollarizing and capping the daily auctions at $75 million…we never saw that before ever… that would be the beginning of monetary change to me…the CBI reserves are the best in the world and they could cover the dinar 1 and a half.

…I just don’t know if they could pull off and support a reinstatement of the old rate 15 years ago.  [I think imo it has to be around kuwaits...]   they have to be able to sustain whatever the rate is… I can’t see how they could sustain an RI at this point.  [do you think they can handle a 1.00 rate?]   I feel they could…or come really close to it if in fact they are trying to dedollarize like I’m assuming they are trying to do with the capping of the auctions at 75 million per auction and paying everything in dinars.  Abadi is definitely on the right track for everything we wanna see…  
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Enorrste - There is no law passed forcing the CBI to do anything.  There is only the “suggestion” of making a law.  In addition, the Parliament does not have the authority to force the CBI in this matter.  It simply can’t tell the CBI what to do.  The CBI only has so many tools to adequately defend the value of the dinar, and open market operations (the auction) is one of the most important of them, especially at this stage of development in Iraq.  Selling or buying bonds is in its infancy in Iraq.  Due to their low inflation rate changing interest rates is also not a viable option.  This leaves the CBI with what it is doing now, namely the auctions, to maintain the value of the dinar.  Furthermore…the CBI went on record last week that it is actually their intent to INCREASE the open market operations, rather than to limit them.
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Flashback Friday…

The Exchange Rate of Foreign Currency in Economic Feasibility Studies

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

Estimate the shadow price of foreign currency:

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

…And in support to this view is the state’s utilization and in a broad approach to the customs and quantitative protection policies especially for consumer goods, as well as export subsidies that exports have through an amended export exchange rate.

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

The Republic of Iraq – Ministry of Planning

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Mnt Goat - …we are only one (1) day from the end of a span of time…I was told would be the best possible time for us to witness the revaluation of the Iraq dinar…this window is not yet over.  So the final vote did happened yesterday, as scheduled.  All the news from yesterday is very exciting news and was history in the making. Remember this is the very first budget EVER completed and through the legal, formal parliamentary voting process since post war for Iraqi’s new government.  Over all we can see that we are soo very close to this RV / RI.  I believe they will take this weekend to push the needed rate files once again down to the exchanges and banks as needed for a revaluation rollout.   If not this weekend very shortly.   I am told it will be a reinstatement (RI) of their currency followed by a revaluation (RV) 4-7 days later.  I believe…we are now in the final countdown window now that the budget is truly done…
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Millionday - [what about customs and tariffs? that's already done, right?]  YES IT IS DONE — THEY HAVE BEEN DISCUSSING THE APPLICATION AND HOW IT IS GOING TO BE APPLIED ETC — THEY HAVE ALSO CLOSED THE BORDERS OF IRAN AND TURKEY FOR ITS APPLICATION.
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BGG  - Yes, that piece has been out for some time – though I see it as important enough in the grand scheme of things, I use an excerpt of it in the first “flashback” post that starts off EVERY SINGLE NEWS DAY in the “Current Iraq News” thread in the forum…

http://www.dinarupdates.com/showthread.php?15040-The-Dinar-Daily-Thursday-January-29-2015&p=94893&viewfull=1#post94893
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Abadi: the government is moving towards institutional reform

Stressed Prime Minister Haider al-Abadi - Thursday, that the government is moving to the implementation of the government program and reforms in state institutions, [and] pointed out that liberalization of the occupied territories by the organization “Daash” require the assistance of the sons of the tribes of the security forces, during a meeting with Vice President Osama Najafi…

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

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Frank26 - The next step is to lift the 000s from the exchange rate of the IQD. Technically it is already done in the math of the budget and protected by the budgets verbiage. LAWS are set…GOI is now a GOICBI…ISX set…Ceiling at CBI is set…Not loans but BONDS and MONEY INVESTED in the GOICBI in order to start the Budget and Economy… Insane Reserves and a plethora of many more article 8 compliance are stacked in favor of an IR/ RV.  Then the MATHEMATICS will equal …It will create a balance …An EQUILIBRIUM in their calculations.
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Adam Montana - [Isn't  the dinar back by gold...and not oil? the answer is “neither”. The dinar is a fiat currency that is backed by nothing more than the CBI’s willingness to pay a certain rate for it.   Right now, they are paying $1 for every 1164 IQD.   When they say “we are now paying $1 for every 10 IQD”, that is the RV and it is backed by the CBI.
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Millionday - WE HAVE A BUDGET.   SO NOW IT HAS TO BE SIGNED BY THE PRESIDENT AND THEN PRINTED IN THE GAZETTE — WHICH BOTH CAN BE DONE AT ANYTIME…WHEN IT IS POSTED IN THE GAZETTE IT IS ACTIVATED BECAUSE IT IS LAW AT THAT POINT.  [when do you project the budget to be printed in the gazette?] THE PRESIDENT HAS 15 BY THE CONSTITUTION BUT HAS HELD PARLIAMENT WORKING AROUND THE CLOCK SO I WOULD THINK THAT HE IS NOT TAKING THAT LONG DUE TO THE OBVIOUS HURRY WE HAVE WITNESSED FOR THE FIRST TIME EVER – AND IT IS PRINTED RIGHT AFTER HE SIGNS IT.  

[when the budget is moved to the gazette, we will see the figures?]  THE FIGURES THAT THEY HAVE NOW ARE AT THE CURRENT RATE AND PURCHASING POWER WITHIN THE COUNTRY — SO ANY DATA ENTRY TO CHANGE THIS WILL BE SEEN THROUGHOUT CBI — ISX — AND ANY OTHER PLACE THAT THE DINAR IS APPLIED.  NOT ONLY HAVE THEY VOTED ON THE BUDGET BUT MANY THINGS AND THIS IS ONE OF THEM —- THEY VOTED TO INSTRUCT THE MINISTER OF PLANNING AND FINANCE TO PROVIDE THE FIGURES FOR THE BUDGET — VERY STRANGE ANNOUNCEMENT WITH THE BUDGET HAVING FIGURES WITHIN IT – HMMMM, OBVIOUSLY THE PLAN MUST HAVE FIGURES IN IT… SMILE.
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Parliament concludes its vote on articles of Budget Law

Baghdad (Forat) – Parliament went on in its vote on the Financial Budget Law articles.
The parliament reached article 59 that is the last within the draft. /End/

Read More: http://dinarupdates.com/blog/
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Aggiedad77 - IMO….Do not put a great deal of worry…into what is or isn’t in the budget.  Iraq is proving they are a force to be reckoned with…they will not be held down much longer I don’t believe.  I believe time is our friend…we shall be watching how things blossom from this point.
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Tlar - Anyone knowledgeable about economic investments knows that half of the success of a given investment is timing. I would be surprised if they ignore the timing altogether and go back to business as usual.  Just as the Abadi government’s credibility was at stake in getting this budget passed, I believe the CBI’s credibility is now at stake on their program to delete the zeros. Do it or shut up about the deletion of the zero program.  Their citizens have to be more tired than we are hearing, hearing and then hearing again about a future better life and bringing purchasing power to their currency.  Somewhere this has got to come to fruition and the timing says that’s now. Timing is everything. To drag this out another year would kill the momentum they have achieved IMO.
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Kaperoni - …passing the budget does support the economy and will provide funds for salaries, expenses, etc.  It is a good thing.  But it is not a “ticket” or a prelude to a RV or anything else related to the dinar.    People are way over excited over something that means very little to us as dinar investors.   When they start passing the stalled economic and banking laws…then we should be watching close.
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Breitling - You should be looking at the note count and be jumping up and down…Dr. Shabibi kept talking about reducing the note count by 70%.  Right now they have 100 Billion of reserve wealth.  The debate is watching the CBI, MOF and MOP and trying to figure out the timing…that’s debatable…that’s pure speculation.  I have so much faith in this investment…their target rate is 1.13 to 1.16 at first and then they will go to $3.00.  It’s got to get there first…I see it coming it at .35 to .45 and then getting it to a dollar.  They can get to a dollar in a snap…they are doing that to control it.  Then it will be a different ballgame to get to $3.  I think this is coming down very very soon.  This is my best guess.  They are reducing their note count and every time a country reduces their note count the value of it’s currency goes up 100% of the time.
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Urgent .. Parliament vote on the central bank to prevent the sale of more than $ 75 million a day in the auction

{Baghdad: Euphrates News} House of Representatives voted to prevent the central bank from the sale of more than $ 75 million a day in the auction .itba h

Read More: http://dinarupdates.com/blog/
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Mailman17 - I SEE THEY HAVE THE BUDGET KNOCKED OFF THEIR LIST AS WELL AND THE 17% TO THE KURDS. I JUST WANT PEEPS NOT TO BE ALARMED THAT THE BUDGET IS STILL IN TRILLIONS. THE FACT THEY HAMMERED THIS OUT IN JAN IS A FIRST. THE BUDGET CAN ALWAYS BE ADJUSTED BY THE STROKE ON A KEYBOARD TO REFLECT THE RV.   SO DONT WORRY ABOUT THAT.   IMPLEMENTATION OF QUITE A FEW THINGS IN THAT BUDGET NOT TO MENTION, ISX INFO SAY THEY WILL HAVE TO HAVE A REALITY RATE.  LOOK AT PAST NEWS AND REMEMBER WHATS ENTAILED FOR IRAQ TO SUCCEED…A STABLE, RECOGNIZED AND VALUED DINAR.  AS FAR AS IMF GUIDELINES…IMO…THEY DO NOT APPLY IN THIS MATTER.  EVEN UNDER ART 4 CONSULTATION BACK IN 2013, NO WHERE DID IT SAY IRAQ MUST FLOAT…PERIOD. THE IMF AND THE CBI WILL ASSIGN WHATEVER RATE THEY FEEL IS SUSTAINABLE FOR IRAQ TO SUCCEED AND A FLOAT FROM 1166 IS NOT AN OPTION. PERIOD…JMO.
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Randy Koonce - The Iraq budget was passed today but, that does not mean that they will RV their currency tomorrow or the next day.   It is another pressure point being put on those causing the delay of the RV.  It was a necessary step before completing the RV but, Iraq has had budgets passed in later years and still did not revalue their currency. Things are still looking good , just remember to…BREATHE.
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Delta - URGENT FROM IRAQIA TV:   BUDGET IS DONE!!!
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Breaking News Parliament identifies portion of KR within State Budget

Parliament identifies portion of KR wihin State Budget

Baghdad (Forat) – The Parliament voted on the tenth article of the State Budget Law related to deduct 17% of the total budget for Kurdistan Region after excluding the sovereign expenses.

The Parliament also voted on the 12th article of the State Budget over reconsidering the portion allocated for KR and the provinces that not associated to a region basing on the population census of 2015. \End\

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

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My Ladies - FINALLY JUST NOW AT 1PM EST THE FINAL VOTE OF THE BUDGET.  THEY VOTED IN EACH ITEM LINE ITEM BY LINE ITEM…  NOW WHAT ON EARTH DOES THIS MEAN FOR US?  WELL NOVA AND I ARE MAINTAINING THEY CAN NOT PROCEED WITHOUT AN INTERNATIONAL CURRENCY.  RIGHT NOW IRAQ IS CLOSED FOR BUSINESS UNTIL SATURDAY MORNING. SO WE WILL WAIT AND WE WILL WATCH WHAT HAPPENS…KEEP IN MIND THAT KUWAIT REINSTATED THEIR CURRENCY AT 4:17PM EST ON A THURSDAY AFTERNOON.  I AM VERY CONFIDENT THAT WE WILL ALL BE HAPPY VERY SOON.
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Arthur - Yesterday was a huge media blitz in Iraq.  Jabouri and several other respected statesmen went on record to assure citizens that this would all be done no later than Sunday, Feb.1st.  But just as there is an opposing counter speech to a Presidents state of the union address, such is the case with Maliki’s State of Law coalition using whats left of their moribund political and media power to constantly sow seeds of doubt and tribal mistrust in Abadi’s government especially in regards to any HCL progress every step of the way which has caused delays up until now but is now only a nuisance and not able to affect the outcome any longer… 
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Stryker - THE BUDGET PASSED TODAY ALONG WITH ALL THE PROVINCES OIL DEALS AND MUCH MORE.  THE CENTRAL BANK POLICY REFORM INSTRUMENTS WERE PASSED TODAY AS WELL – THESE WILL CHANGE IRAQ FOR EVER.  THE PARLIAMENT VOTED TO LIMIT THE SALE TO $75 MILLION DOLLARS A DAY IN THE DAILY AUCTIONS.  THE VOTE AND APPROVAL TO IMPLEMENT ALL GOVERNMENT PROJECTS – LAWS WILL PASS PARLIAMENT IN NEXT SESSION.  A $56 PER BARREL OF OIL WAS THEIR BUDGET AMOUNT.  TAXES ON WATER, CELL PHONES, CARS, CIGARETTES AND MUCH MORE WERE APPROVED IN THIS YEARS BUDGET - COST OF LIVING GOES UP FEBRUARY 2, 2015 SO SHOULD THE PURCHASE POWER OF THE DINAR. 

THE BUDGET WILL BY PLACED IN THE GAZETTE AND IMPLEMENTED SATURDAY 1/31/2015.  ALL SIGNS POINT TO THE LAUNCH OF ALL REFORMS UNDER THE LEADERSHIP OF PM AL-ABADI.  IF ALL PROJECT GET IMPLEMENTED INCLUDING THE CUSTOM TARIFFS WE COULD SEE A MONETARY CHANGE TAKE PLACE ON MONDAY 2/2/2015, IF THE CUSTOM TARIFFS ARE DELAYED THEN IT MAY BE THE FIRST OF MARCH BEFORE WE SEE A CHANGE IN THE STRUCTURE OF IRAQ’S MONETARY POLICIES – MAYBE NOT BUT ONE THING IS FOR SURE, WE WILL KNOW ON MONDAY. 
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Dinar Morning Drive Call…

Dinar News with BGG – from 1/29 AM

Click-n-listen

Smart phone user link – Click here

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Stryker - THE BUDGET APPROVAL HAS BEEN DELAYED FROM 11:00 am THIS MORNING TO 1:00 pm, TILL 5:00 pm AND NOW TO 6:00 pm BAGHDAD TIME.  
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Arthur - There was also a big media push emphasizing the major progress on the security front.  Hundreds of ISIS/ISIL/DAASH being killed daily by an even more ramped up bombing campaign since the France incident along with an ever increasingly confident Peshmerga liberating more and more areas and announcing the imminence of the displaced being able to repopulate their homes and properties…and that international investors no longer need have any security concerns.  Jabouri outlined a long laundry list of progressive accomplishments of the new government contrasting them with the failures of the former regime…The whole tone was about the new Iraq and the imminence of them becoming the biggest economic giant in the region.  A major and decisive meeting of the presidencies was announced for today that will put the final touches on the budget law and mechanisms that will positively impact every citizen and launch Iraq into the international stage.
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Kaperoni - [You can't state for a fact...it will not RV, it will float for 2-4 years up to and over a 1.00.]  This is not magic or some unique program. This is standard procedure by the IMF for the reconstruction of the banking and economy. This process has been used in many countries over the years and it is how emerging markets work. Read an Article IV Consultation from any IMF member and you will see the process is the same. A countries currency is not a lottery ticket that you can arbitrarily set value to. Its based on sound economic principals that are used for everyone. This is not about secrets, its about creating the conditions for the growth and success of the economy. As a result, as the economy grows so will the dinar and that is a float, period.
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Budget session in Parliament postponed until 5 pm Baghdad time today (tha’s about an hour from now…)

http://alliraqnews.com/2011-04-18-02-57-37/165120-2015-01-29-12-02-37.html …

Read More: http://dinarupdates.com/blog/
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Poppy3 - I WAS…READING THE NEWS THIS WEEK AND LAST AND COULDN’T HELP BUT SEE THAT THESE GUYS ARE TELLING US THEY ARE READY TO PAY ALL OF US.   THEN READ THE SHELL PROPOSED CONTRACT OF 11 BILLION AND THAT TELLS ME SHELL EXECUTIVES KNOW WHAT WE HAVE BEEN WATCHING IS READY TO HAPPEN. …HERE IS A MAJOR AMERICAN COMPANY INVESTING 11 BILLION.  HOW COULD ANYONE NOT GET EXCITED.
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Millionday - THEY HAVE SENT THE BUDGET TO VOTE…THE VOTE IS THURSDAY.  PARLIAMENT HAS ALREADY AGREED TO THE BUDGET SO THAT WOULD MEAN IT WILL BE VOTED THROUGH SMOOTHLY.  [in all the years you've been in this have you ever seen them work so hard on a budget and at the amount of dinars approved?]  NO I HAVENT SEEN THEM BE ABLE TO FOLLOW THROUGH WITH WHAT THEY HAVE STATED IN SUCH A HURRY… SO THE BUDGET HAS BEEN WRITTEN ON 56$ A BARREL. …WE HAVE IS THE ENTIRE PACKAGE OF INVESTMENT LAWS HAS BEEN APPROVED BY ABADI — AND ALSO THE VOTE FOR THE BUDGET WOULD BE IN THE MORN…
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Adam Montana - [Do you believe that when the Budget is passed, the RV will follow?  and  Once the HCA becomes HCL, will the RV follow?]  Once we have the HCL and the Budget, I do indeed think we are moments from that announcement.

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Deputy Kurdish: no final agreement until now between the political blocs to pass budget

Information / special / ..Confirmed the MP for the Kurdish bloc change Shirin satisfaction, on Thursday, renewed the differences between the political blocs on the budget, especially among a coalition of state law and the Kurdistan Alliance Law…

…The parliamentary source said that House Speaker Salim al-holding closed-door meeting with the heads of the political blocs to agree on a budget before passing in to vote on them.
Plans to the House of Representatives, today, the vote on the 2015 budget after the completion of the Finance Committee to draft the budget and submit the final report to the Presidency of the Parliament…

Read More: http://dinarupdates.com/blog/
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Stryker - We have a GO on the 2015 Budget Approval Tomorrow and the State Law realized they had no dog in the hunt, so to speak, so they backed down and said they would vote to approve it as well.
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Aggiedad77 - So are we waiting on the budget now…NO!  The budget is done…as of last night in the midnight hour…I-Team was there…the budget has been passed…Good things are going to surface with this budget…count on it…it will take between 48 and 72 hours for things to show…IF…they choose to let us see it even then.
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sczin11 - IRAQ NEEDS AN INTERNATIONALLY RECOGNIZABLE TRADEABLE CURRENCY TO OPERATE WITH THE ENTIRE WORLD…THEY NEED A DINAR WORTH MORE THAN THE US DOLLAR, OR NO ONE WILL WANT TO USE THE DINAR… [what is the rate they desire?]  ...FROM ALL I HAVE READ THEY WANT A RATE SIMILAR TO WHERE THEY WERE PRE SADDAM, WITH A POSSIBLE 20% INCREASE FOR INFLATION, AND WANT TO BE WITHIN 50 CENT OF KUWAIT, IN EITHER DIRECTION…THE ISX IS READY…THE CBI IS READY…IT APPEARS ABADI IS READY…IT APPEARS JUBOURI IS READY…IT APPEARS IMF, BIS, WB ARE READY…SO…
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The Ministry of Oil: the approval of the formation of oil company Dhi Qar

{Baghdad: Euphrates News} The Oil Ministry announced on Thursday, to approve the formation of Dhi Qar Oil Company.

According to an informed source in the ministry told the Euphrates News} {today, “The Oil Ministry has decided to approve the formation of an oil company Dhi Qar.”

The province of Dhi Qar, announced in 2013, reached the legal ceiling for the establishment of a private oil company after production exceeded 100 000 barrels…

Read More: http://dinarupdates.com/blog/
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sczin11 - IRAQ NEEDS AN INTERNATIONALLY RECOGNIZABLE TRADEABLE CURRENCY TO OPERATE WITH THE ENTIRE WORLD…THEY NEED A DINAR WORTH MORE THAN THE US DOLLAR, OR NO ONE WILL WANT TO USE THE DINAR… [what is the rate they desire?]  ...FROM ALL I HAVE READ THEY WANT A RATE SIMILAR TO WHERE THEY WERE PRE SADDAM, WITH A POSSIBLE 20% INCREASE FOR INFLATION, AND WANT TO BE WITHIN 50 CENT OF KUWAIT, IN EITHER DIRECTION…THE ISX IS READY…THE CBI IS READY…IT APPEARS ABADI IS READY…IT APPEARS JUBOURI IS READY…IT APPEARS IMF, BIS, WB ARE READY…SO…
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Adam Montana - note …they have decided to adjust the budget to work with oil at $55 instead of $60. I mentioned last week I didn’t like the $60 mark, so I like this move. It’s more realistic, and will take stress off the CBI when they raise the exchange rate.  And as the final kicker…it appears that they already have a revised budget ready to go.  So, what’s the bottom line? our best case scenario is whatever Thursday they meet (tomorrow or next) they pass the HCL and possibly slam the revised budget into place in the same meeting. CBI jacks up the rate and pandemonium ensues! Worst case scenario is we continue to wait.
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tlm724 - …am excited this a.m.  The Central Bank dollar sales crumble to lowest level in months Wednesday, 28th January 2015 …we see way less dollars going out into the banks/markets which is awesome and remember what the CBI told us?   ”Central Bank decides to support banks five trillion dinars“  so the CBI is pumping the banks full of DINARS! thats why I am excited, I truly believe they are dedollarizing.
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home7

Iraqi Dinar/Dollar auction 1-29-15

Currency Auctions Announcement No. (2876)

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

The results were as follows:

25k-Iraqi-Dinar-200x96DETAILS                                                              NOTES
Number of banks                                                20
Auction price selling dinar / US$                    1166
Amount sold at auction price (US$)               98,234,000
Total offers for buying (US$)                           98,234,000

Read More: http://dinarupdates.com/blog/
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Mnt Goat - Just these past couple days we read articles on the shifting of money from the CBI reserves to the five main banks in Iraq. Seeing that they just can’t give away money they loaned the money to the banks.  So the CBI reserves stay intact on the balance sheets. What does this mean?  It means they are positioning themselves and about to make some kind of drastic change in the value of their currency in order to support the backing of the 2015 budget amount. They are basically funding the new budget.   Now with this shifting around of funds and a revaluation this is possible. They can actually now pass the budget and move forward if they decide to on Thursday. This is why I am now so optimistic this could actually happen this week. 

If they pass the budget my CBI contact also told me they might wait a day or two in telling this news to the international community and keep it to themselves, if they run into a snag.  But once the world hears about the budget being passed they are in BIG trouble should they not have value to their currency to back it up.  So you see Al-Abadi has to make a decision soon on when to RV his currency. I believe this decision has already been made and we are now in the final countdown window…tic toc…tic toc…
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sczin11 - …THE CONNECTION THAT HAS BEEN MADE WITH THE TIMING OF THE CBI ANNOUNCEMENTS YESTERDAY, AND THE BUDGET VOTE TOMORROW…YOU CAN SEE WHERE THE PLAN IS IN FACT IN MOTION, AND THEY NEEDED YESTERDAYS CBI ANNOUNCEMENT IN ORDER TO COMPLETE THE BUDGET…REMEMBER, WE DONT KNOW WHAT WE DONT KNOW, BUT I WILL SAY, WHAT WE DO KNOW, IS THERE ARE NO DELAYS…THERE IS A PROCESS AND A PLAN…AND WE ARE WATCHING IT UNFOLD.
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Adam Montana - Article quote: “Parliamentary Finance Committee member Jabbar Abdul Khaliq al-Abadi, on Tuesday, that the financial budget was not completed until now for several impediments most important oil agreement with the Kurdistan Region…”He Abadi, MP for the coalition of state law, that the oil-exporting quantities of the Kurdistan Region is identical to agreed with the Iraqi government, which may cause the implications of a negative for the completion of the financial budget for 2015. also noted that the budget Finance did not include provisions for the National Guard to the failure to approve the composition of the very moment. According to al-Abadi, it is hoped to show the budget in 2015 to a vote during the session next Thursday.”  Ah-ha! So it looks like I was wrong… perhaps we’ll see the HCL before the budget.
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Kaperoni - Article quote:  ”the laws passed to facilitate investment is disabled, so you have to accelerate the activation of the relevant laws to ensure they constraints faced by investors.“ …its never been any clearer than this…IMO, as soon as the laws are passed, investment will begin to poor in..as a result the dinar must rise to offset inflationary pressure created.  Pass those laws please asap.
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Breaking News Parliament identifies portion of KR within State Budget

Parliament identifies portion of KR wihin State Budget

Baghdad (Forat) – The Parliament voted on the tenth article of the State Budget Law related to deduct 17% of the total budget for Kurdistan Region after excluding the sovereign expenses.

The Parliament also voted on the 12th article of the State Budget over reconsidering the portion allocated for KR and the provinces that not associated to a region basing on the population census of 2015. \End\

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

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Poppy3 - MANEUVERS TAKING PLACE FURTHER CLEARING THE WAY FOR A NEW RATE…AS ALL CAN PLAINLY SEE THE NEWS IS AND HAS BEEN FOR A MONTH ALL DIRECTED AT IRAQ FINANCE AND STABILIZING THEIR ECONOMY TO JOIN THE GLOBAL MARKETS AND HELP 20 PLUS OTHER COUNTRIES FURTHER STABILIZE AS WELL. THEY IN THE FUTURE WILL BE THE FINANCIAL MECCA OF THE WORLD. THATS WHY I INVESTED 11 YEARS AGO AND THAT FACT HAS NEVER CHANGED.
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Mailman17 - EVERYONE FORGETS IRAQS PAST…THINGS THAT WERE BROUGHT UP IN THE PAST BUT HAVE MAJOR IMPLICATIONS TO IRAQS FUTURE.   PHOSPHORUS MINES, THE 3-D GEOLOGICAL SURVEY ON IRAQS OIL NOT EVEN TAPPED (WHICH BY THE WAY IS DOUBLE WHAT THEY HAVE IN RESERVES RIGHT NOW) THEIR NATURAL GAS FUTURE. I BRING THIS UP BECAUSE IT IS FORGOTTEN…BUT PLAYS INTO IRAQS FUTURE AS THE LEADING ARAB NATION IN THE FUTURE.  THEY ARE LOADED…AND THEY WILL BURST OUT WITH A FLURY. THEIR REVENUE OUTSIDE OF OIL ONLY BACKS THEIR CURRENCY EVEN MORE. BELIEVE ME THAT THIS WAS AND WAS ALWAYS CALCULATED. THEIR MAIN OBSTACLE WAS GOVT…ESPECIALLY MALIKI…HES GONE. LET THE FIREWORKS BEGIN…JMO
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Shredd - the dinar has appreciated via a managed float without any Article VIII compliance so, one could assume a continued move of the dinar rate, managed by the CBI, could continue but regarding moving to a free float that is market driven, that is the part others are saying is contingent on compliance and it makes no difference to me the method…we win either way.
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home7

Iraqi Dinar/Dollar auction 1-28-15

Currency Auctions Announcement No. (2875)

This daily currency auction was held in the Central Bank of Iraq on the 28-Jan-2015

The results were as follows:

25k-Iraqi-Dinar-200x96DETAILS                                                              NOTES
Number of banks                                                10
Auction price selling dinar / US$                    1166
Amount sold at auction price (US$)               40,151,000
Total offers for buying (US$)                           40,151,000

Read More: http://dinarupdates.com/blog/
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sczin11 - IT APPEARS WHAT WAS DISCUSSED IN THE UN-ANNOUNCED MEETING THIS PAST SUNDAY, HAS BEEN MADE OFFICIAL…THE CBI IS GOING TO PROVIDE MONEY TO THEIR LOCAL BANKS, IN ORDER TO CREATE LOANS FOR THE PRIVATE SECTORS, JOBS FOR MORE IRAQI CITIZENS, AND IS GOING TO BUY BACK BONDS TO SAVE THE GOVERNMENT ON INTEREST PAYMENTS, THUS AIDING IN THE “LIQUIDITY” ISSUES…
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Aggiedad77 - [will the CBI have to reveal the rate to the world when they do actually do the things you speak of or can they just keep on hiding it...?]  [reference Frank26 post below, 1-27-2015]   It is our opinion that when the CBI implements these things they talk of…they will have had to release a rate…to trade on the secondary market requires that a country have a recognizable currency…that to me is a key thing at this point…We just don’t know when it will occur…hopefully Thursday…in the meantime we continue to watch what they do and say.
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Frank26 - Article:   “CBI supports commercial banks and buy treasury bonds“  The article talks about the CBI doing three things: 1. They will be making 5 trillion dinars available to commercial banks for the purposes of loans…what kind of loans…loans for agricultural, industrial, and home loan/building uses.  2. They spoke of offering up to 50% of commercial bank reserves, up to 6 trillion dinars using this amount whatever it settles out to be to finance public budgeting… 3. And lastly, a buy-back of 5 trillion dinar in form of treasury bonds…this is to be done on the secondary market, meaning they must be doing this with a recognizable currency not something at the program rate….this would be a transaction with the world!

IOO…we believe the CBI is TALKING and talking loudly.  The Finance Committee has been crowing all day that they are soon to be ready, they worked through the night to have the budget prepared to present to the President of Parliament…done.  This means they should be voting on the budget on Thursday during their normal session starting at 1:00 pm Iraqi time…but there is nothing in stone yet that says we will see the budget on Thursday.  You will see or read that the budget has the 1166 rate in it, but that matters not….what matters is what the CBI is saying and what they have intentions of doing….what we still look for is when the CBI will work their magic…the CBI is in charge of this event, they work in conjunction with the GOI most recently, but the CBI is calling the shots…we don’t know the date or the rate…Just be ever so vigilant to what the CBI is doing and how they go about their business.
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Check out the Dinar Corp 120+Max – it’s EQUITY!!

Commercial Solicitation

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tman23 - Jabouri said A CUSTOMIZED PARLIAMENT SESSION will be held Thursday…They will vote on the budget…But to customize may indicate that a number of other laws are going to be presented for vote...LIKE ALL AT ONE TIME AND BEFORE FEB 1st.
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Shredd - Article quote:  “The central bank also decided to buy Treasury bonds from the secondary market, where the central bank will buy about 5 trillion dinars in the first phase of these bonds,” adding that “the above procedures for upholding the private reserves of the Central Bank.”   The CBI is participating in this process to stimulate investment in the secondary market, to the public sector and at the same time benefiting from this favorable process to uphold its reserves.  By the way, this of course, will substantially support adding strength to the dinar. it’s all good…so much proof that the central bank and the GOI are working together to now bring economic growth to the country and that translates to Iraq getting out of a dual currency situation.  IMO, this is also proof that both entities know the dinar is stronger than the dollar to be working on making this move…
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Enorrste - Article quote:  “Revealed the appearance of Mohammed Saleh economic adviser to Prime Minister Haider al-Abadi for near immediate reform policies in the country, and Saleh said that there are reformist policies going to go out soon, adding that those policies will serve the Iraqi people, despite the circumstances through which the country…“   What is especially appealing about this announcement is that they are moving forward “despite the circumstances” having to do, presumably, with the security situation.  …”reformist policies” must refer to economic policy and in particular to the CBI role in changing the exchange rate regime.  Since it is  Saleh who is making this announcement this must have to do with the CBI rather than the COM.  Saleh is the “go between” between the GOI (Abadi) and the CBI.  Therefore, I feel confident that this article is referring to the change in the exchange rate regime.  It is great news indeed.  Now all we need to know is the meaning of “soon.”  LOL
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home7

Iraqi Dinar/Dollar auction 1-27-15

Currency Auctions Announcement No. (2874)

This daily currency auction was held in the Central Bank of Iraq on the 27-Jan-2015

The results were as follows:

25k-Iraqi-Dinar-200x96DETAILS                                                              NOTES
Number of banks                                                12
Auction price selling dinar / US$                    1166
Amount sold at auction price (US$)               69,539,000
Total offers for buying (US$)                           69,539,000

Read More: http://dinarupdates.com/blog/
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Kaperoni - Article quote:  “The CBI has decided to take the necessary measures to boost liquidity in the banking system and simplify the sale of foreign currency procedures in order to facilitate the stability of the market and exchange rate measures.”   This is sorta a big deal…In the past the CBI has been reluctant to fully liberalize the sale of foreign currencies because of the currency smuggled or leaving Iraq.   If this continued it could reduce the CBI reserves.  Therefore for them to be doing so, they either have a handle on where the money is going or being used or they have curbed the problem enough to try to fully comply with the IMF.  Either way, and for whatever the reasons, its good news for us.  The sooner they are in compliance, the sooner they can exit Article XIV and move to Article VIII.  I also was looking for the “official” press release confirming they were taking these measure and today that was posted on the CBI site.  We should see some changes in the Market Rate in short order now.
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Poppy3 - multiple CHARGES AGAINST MALIKI, THE FIRST OF 25 PLUS CHARGES BEING FILED AGAINST HIM INCLUDING MANY MAJOR CHARGES OF FRAUD, THEFT AND EVEN MURDER.  THIS INFO FROM SEVERAL SOURCES.  HIS GOOSE WILL BE COOKED VERY SOON. THIS KEEPS HIS NOSE OUT OF ECONOMIC REFORM.  ABADI’S PEOPLE HAVE OUT MANEUVERED HIM AND COMPLETELY SURROUNDED HIM AT EVERY JUNCTURE SINCE THEY HAVE BEEN PUT IN POSITION TO DO SO. IT HAS TAKEN MORE TIME THAN WAS THOUGHT BUT HAS BEEN DONE IN THE MOST EFFECTIVE WAY TO MAKE SURE HE IS COMPLETELY OUT OF THE WAY.
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Aggiedad77 - This is my opinion…I believe they are communicating that they (CBI) knows what the rate should be….and through their reserves, currency, but mostly the hard reserves they have gold and such…they can cover things out to 1.5 times…we’ve seen this statement from them on several different occasions and to me it is very positive on their part to be saying this…They know they have solid reserves…the world knows they have solid reserves…just keep watching for who is truly in control…the CBI wants to talk.   
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sczin11 - I STILL AM A BELIEVER THAT THE BUDGET NEEDS THE RV TO BE EXECUTED THE WAY THEY INTEND IT TO BE…THE REVERSE TO ME IS LESS SIGNIFICANT, MEANING RV DOESNT NEED BUDGET…   
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Follow us on twitter @DinarUpdates !!

Dinar Updates‏@DinarUpdates

Kobani ‘back in Kurdish hands’ after Isis militants desert city

http://www.dinarupdates.com/blog/ 

Embedded image permalink

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Mailman17 - WE HAVE SEEN IRAQ TAKE GREAT STRIDES TO NOT ONLY GET THEIR GOVT IN CHECK BUT THEIR ECONOMY READY FOR GLOBAL RECOGNITION. SHABS HAS STATED MORE THAN ONCE IN THE PAST THAT THE CBI’S GOAL WHEN ENTERING A MARKET ECONOMY WAS TO BE ON PAR…ON PAR WITH THE DOLLAR.  IRAQS ECONOMY HAS BEEN LINKED TO THE DOLLARS VALUE SINCE 2003. THE U.S. DOLLAR WAS USED MORE IN TRANSACTIONS THEN THEIR OWN DINAR…DAILY. THEY HAVE ENOUGH RESERVES BACKED BY FRACTIONAL BANKING (15-1) (NOT 10-1 AS SOMEONE ELSE STATED) TO ATTAIN A 1-1. WITH A 4MBD OUTPUT, MOST LIKELY TO FAR SURPASS THAT IN THE NEXT FEW YEARS NOT TO MENTION THE OTHER RESOURCES SUCH AS NATURAL GAS AND PHOSPHORUS. YES, PHOSPHORUS…THEY HAVE ENOUGH TO BRING THE WORLDS RESERVE BACK TO 100% AS IT IS USED IN A LOT OF THINGS LIKE STEEL AND MEDICINE…ECT.

IRAQ IS A GOLDMINE. GOLDMINES START STRONG AND BUILD…IMO…DEDOLLARIZATION IS THE KEY…AND THE IRAQIS MUST HAVE FAITH IN THEIR OWN CURRENCY FROM DAY ONE…AND SEEING AS THEIR ECONOMY IS BASED ON THE VALUE OF THINGS PURCHASED AGAINST THE VALUE OF THE DOLLAR…I TRULY SEE THEM COMING OUT LIKE SHABS SAID…ON PAR OR A LITTLE BETTER…STAY FIXED…THEN OPEN THE MARKET DOWN THE ROAD WHEN STABLE...THE PRINT TELLS US WE ARE CLOSE, REAL CLOSE…AND IRAQ IS A LOT BETTER THAN MOST THINK IN REGARDS TO SECURITY…JMO.
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Chattels - IF THE BUDGET ARRIVES AT PARLIAMENT TOMORROW THE NEWS SAYS WE MAY HAVE A VOTE, BUT IF NOT THEN MAYBE NOT UNTIL NEXT WEEK.  I AM BEGINNING TO ASSIGN GREATER SIGNIFICANCE TO THIS BUDGET THAN YEARS PAST.  INTERESTINGLY ENOUGH THERE WAS MENTION OF THE IMPORTANCE OF THE BUDGET IN DISCUSSIONS ON NATIONAL RECONCILIATION.  CERTAINLY IT IS A “HUGE” BUDGET/ISSUE FOR THE KURDS, AND I DO NOT USE THE WORD “HUGE” LOOSELY IT MAY NOT “TRIGGER” OUR EVENT, BUT OUR EVENT MAY NOT PROCEED WITHOUT IT.
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sczin11 - RE: CBI, MAJOR DETAILS COMING IN MANY VERSIONS, OF THE RELEASE TODAY ON THEIR WEBSITE, WHICH IS BASICALLY THE FINALIZATION OF THE UNANNOUNCED MEETING THEY HAD ON SUNDAY…THEY ARE TAKING CHARGE, AND MY MAJOR QUESTION IS, WHO IS RUNNING THE SHOW?   I FIND IT VERY UNLIKELY, KEYWORDS (LOL), ALI MOSHIN ISHMAEL IS MAKING THIS HAPPEN…JMHO
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Tamimi: approving the budget Thursday ..

BAGHDAD / obelisk assured the Finance Committee in the House of Representatives member Majid al-Tamimi, on Monday, that the adoption of the general budget for the year 2015 will be the law through parliament session next Thursday.

Tamimi said in a statement seen by “obelisk”, “The Finance Committee to conduct a continuous adjustments and transfers in respect of the general budget for the year 2015 Act”, expected that “the resolution of all matters relating to the budget during the next two days.”…

Read More: http://dinarupdates.com/blog/
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Poppy3 - NEWS IS FULL OF SOLID GREAT NEWS…WE WILL BE SINGING WE ARE IN THE MONEY ANYTIME NOW.
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Millionday - THEY ARE EXPECTED TO VOTE ON BUDGET ON THURSDAY ”…the parliamentary Finance Committee announced today that the parliament session next Thursday will vote on the budget bill…“  THIS IS ANOTHER STATEMENT SAYING THURSDAY IS BUDGET VOTE DAY.    THE HCL IS GOING ALONG VERY QUICK FINALLY — I REMEMBER A TIME THEY THOUGHT IT WAS DONE —  THE NEXT SESSION MAY HAVE THE HCL WITH ITS AGENDA.  [when is there next session...Thursday?]  YES I BELIEVE IT IS BUT THEY HAVE STEPPED UP THEIR SESSIONS SO IT COULD BE SOONER…
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Aggiedad77 - Article:  “Will approve the financial budget for 2015 on Thursday“   With optimistic expectations some are saying the budget will be approved on Thursday….the deficit appears to have been reduced to 21% from what they are also saying…..can’t wait to see what this will bring.
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Dinar Morning Drive Call…

Dinar News with BGG – 1/27 (10:00am)

Click-n-listen

Smart phone user link – Click here

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Mailman17 - ANYONE WHO THINKS IRAQ WILL ANNOUNCE THEIR CURRENCY TO THE WORLD IN AN OPEN MARKET AND LEAVE IT AT 1166 HAS A NUT LOOSE. THAT WOULD BE A SLAP IN THE FACE TO THE CBI, IMO. WHEN THEY COME OUT…THEY WILL COME OUT STRONG. OVER A 1-1 GUARANTEES DE-DOLLARIZATION WITHOUT STICKER SHOCKING THE LOCALS.  A FLOAT DOES NOT DE-DOLLARIZE…PERIOD. IF THEY WANT TO GO TO A FIXED AND MANAGED RATE TILL THINGS SETTLE…THEN LET THE DINAR BE MARKET DRIVEN…FINE…THATS SOUNDS MORE LIKE A PLAN THEY CAN MAKE ADJUSTMENTS WITH DAY TO DAY…EITHER WAY THE PRINT TELLS US THEY ARE READY TO MOVE AND IT LOOKS LIKE BY FEB 1 COULD BE OUR WINDOW. AS ALWAYS, JMO.
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sczin11 - THE FACT IS…IT CAN HAPPEN AT ANY TIME…IT IS IN THE PROCESS, AND GOING ON… CAN IT GO PAST WEDNESDAY, OF COURSE …AS LONG AS THE NEWS RELEASES CONTINUE IN A POSITIVE WAY, AND THERE ARE NO CURVE BALLS THAT SHOW UP….WE ARE IN THE RIGHT PLACE! JMHO.
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Aggiedad77 - Article:   ”Parliamentary Energy reveal an alternative draft oil and gas law of former Law“  The Council of Ministers is currently working on a draft of an alternative oil and gas law….one that is away from the original draft which they say was full of disagreement and problems…in typical Iraqi rhetoric they are saying the new draft will be presented to Parliament in coming sessions…soon…we shall see…maybe it will get ignited later this week if the budget gets passed and is out of the way.
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Barzani: the province is committed to the oil agreement

BAGHDAD / Source News / KRG President Barzani said today the province’s commitment to the oil agreement signed with the federal government.

The head of the oil and gas committee in the House of Representatives Iariz Abdullah as saying that the region has not yet been able to full agreed amount to the presence of technical problems Export.

He added that the federal government has asked for an explanation from the provincial government, and that it was not up to the level of the formation of a committee to investigate the matter…

Read More: http://dinarupdates.com/blog/
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Tlar - Article quote:  “decided CBI, take the necessary measures to boost liquidity measures in the banking system and the simplification of foreign currency sale in order to facilitate the stability of the market and exchange rate measures.“   The CBI just paved the way for the government to implement all their new programs by this move.  Between the 2 million loan from the IMF and the CBI backing the government by financing the debt, the government is now free to move.  The CBI announced that they have 1.5 times in reserves for all the dinar out covering every dinar 1.5 times.  That is much more than they need to back their currency especially circulating currency.  It’s obvious to me Keywords is on onboard and trying to help the government achieve a successful transition to a market economy or why do this?  You only have to ask yourself this question.  Would the bank under Shabibi, or Turki loan money or back government instruments prior to this government?  The answer has to be a firm no.  Both  stated they would not loan money to the government.

Now with the CBI’s backing and support,  the Abadi government should have no problem raising the funds necessary to proceed.  IMO keywords is showing he is on board with this move and ready to go to the wall for the Abadi government.  Another good sign IMO we are very close.  One more thought.  Kuwait postponed their payments in 2015 and Egypt just relaxed their debt  for oil shares.  Abadi is truly clearing the way for Iraq  to come out of fog in 2015 and quickly participate in a successful 2016.   The pass he just made, visiting all the countries he just visited, IMO he was selling oil attempting to gain new markets and increase existing markets, and making sure that those countries were on board to shortly accept the dinar in trade.  It is of benefit to all their trading partners to now accept the dinar, and shortly they will.  Abadi is a very smart guy.
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Enorrste - within the next 30 to 60 days we will see the beginning of the rise in the value of the dinar.  I don’t expect a major announcement, however.  Instead, I believe the street rate will come down to the official rate and then pass it, at which time the CBI will either “ratchet” the official rate on occasion to keep pace with the rise in the street rate value, or, more likely, make an official change in the exchange rate regime to link the street rate and official rate, thereby initiating the float.  After that, some months probably, they will move to Article VIII.  At that point the investment will substantially increase into Iraq, even beyond whatever Abadi is able to get started from last weekend’s conference, since Iraq will be playing in the ‘big boy” ballpark under the same rules as the rest of the world.  I am quite optimistic, in case you did not notice!
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Chattels - Speaker: Parliament to vote on 2015 budget law draft on Thursday session  Monday, 26 January 2015 15:52“  “Baghdad (AIN) –The Speaker of the Iraqi Parliament Salim al-Jubouri assured on Monday that next Thursday session will witness voting on 2015 federal budget law draft.“  now the foregoing sounds “official” and it is to be on the agenda!
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home7

Iraqi Dinar/Dollar auction 1-27-15

Currency Auctions Announcement No. (2874)

This daily currency auction was held in the Central Bank of Iraq on the 27-Jan-2015

The results were as follows:

25k-Iraqi-Dinar-200x96DETAILS                                                              NOTES
Number of banks                                                12
Auction price selling dinar / US$                    1166
Amount sold at auction price (US$)               69,539,000
Total offers for buying (US$)                           69,539,000

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

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Jester - THEY ARE TRYING TO MAKE THE OIL CREDITS WORTH LESS TO DELAY THINGS… MY OPINION…THEY ARE WORTH WHAT THEY ARE WORTH… ABOUT $30-32 PER BARREL… NOW AND FOREVER…[Does it really matter what the price of oil is in the long run. It's been overinflated for years.]  WELL EVERYTHING DEPENDS ON WHAT SOMETHING IS WORTH… YOU BETTER HOPE IT DOES… BECAUSE THEY WILL NOT LIKE TO HAVE YOUR DINAR IF THE OIL CREDITS ARE WORTHLESS…I HOPE THAT IS CLEAR ENOUGH… THEY DO NOT HAVE ENOUGH MONEY TO CASH OUT EVERYONE WITH DINAR WITH THE MONEY THEY HAVE…ISN’T POSSIBLE… SO UNLESS THE OIL CREDITS ARE UTILIZED FOR FUTURE WORTH THEN THIS SCENARIO IS OVER AND WE SHOULD ALL JUST GO HOME…IF THE OIL CREDIT SCENARIO GOES FUBAR WE ARE SCREWED…
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Aggiedad77 - looks like the start of a bright week ahead for a number of issues…maybe the primary focus this week will be the 2015 budget…it appears poised to tee up for a vote on Thursday…..Maliki’s name is back in the news again…and along with his name comes the words corruption and deceit.
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tman23 - What I have been seeing is 50% cuts…one Ministry went from 450 billion to 1.350…so we have seen as much on an average of 3.2 in cuts…The estimates are 58 billion in oil revenue for 2015 at 4 million barrels per day…They have been playing with the numbers but past numbers figured out to balance the budget would require around 3.40 rate… REMEMBER…they get paid in petro dollars so the deficit can be multiplied by the rate for purchasing power.
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Chattels - the budget is day by day so there is really no delay, it just has not gotten done yet.  [I saw in the Forum News that it is Thursday...]  there is ” talk ” of Thursday, but my sense is that it really is ” ASAP“.

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

Commercial Solicitation

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tlm724 - Article quote:  “Mr. Minister of Planning Dr Salman Jumaili ministry announced the completion of an economic plan for the years 2015-2018 in light of the government program“  tells us 1. they know what they have to do   2. they know how to do it and   3. they know what funds they have to implement it   4. this is the shift to the free market economy   5. this is why there are changes going on at the CBI also.  Abadi developed the plan the MOP followed up and got it done!  Amazing progress, I am very excited!  [finally the timing is looking good for all of us.]   I concur…
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Poppy3 - TWO OF MY SOURCES ARE STILL SAYING WE SEE A NEW RATE NO LATER THAN FEB 1. THINGS  ARE SOUNDING LIKE THEY ARE GOING TO BE DEAD ON THE TARGET.
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sczin11 - THE CBI MET TODAY [SUNDAY], AND ANNOUNCED TO THE WORLD THEY ARE READY TO SUPPORT THE DINAR AND ARE COMPLYING WITH INTL REQUIREMENTS, AKA CLEANING UP THEIR CORRUPTION, WILL BE A WATCHDOG, AND ALL MONIES ARE SAFE WITH US…  LOOKING AT WHAT HAS TRANSPIRED OVER THE LAST WEEK PLUS, ESPECIALLY A FEW DAYS AGO WITH MINISTERS OF FINANCE, OIL , PLANNING, PRIME MINISTER AND CBI IN SAME ROOM…WHEN HAS THAT HAPPENED IN THE PAST…ABADI SPEAKING IN DAVOS, MONEY TRANSFER COMPANIES BEGINNING TO TRADE ON ISX,  BTW, 3 ARE SCHEDULED 1ST WEEK IN FEB…AND NOW THIS TODAY.
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Economists Divided Over Deletion Of Zeros

By Amina al-Dahabi for Al-Monitor.

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.

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.

ARTICLE LINK
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Poppy - I THINK THAT…ALL BANKING LAWS MUST BE IMPLEMENTED BUT FROM ALL POSTED IN INK NEWS THEY WILL ALL BE DONE TOGETHER AT ONE TIME. THE REASON FOR THAT IS SO MANY OF THEM DEPEND ON THE OTHER THEY MUST IMPLEMENT THEM ALL TOGETHER.  WHAT MANY OF US INVESTORS HAVE NEVER UNDERSTOOD THAT ALL THESE LAWS NEED ONE ANOTHER TO HAVE ANY SUBSTANCE OF POSSIBLE ENFORCEMENT.   I THINK…WE ARE SETTING ON TOP OF A POWDER KEG READY TO EXPLODE WITH BUDGET, LAWS, RATE, ETC. NOT NECESSARILY IN THAT ORDER BUT WE ARE THERE UNLESS SOMETHING REALLY DRASTIC HAPPENS FIRST.  
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Stryke - [When will the budget get approved so we can see it take place?]  IMO, it will be approved this week…
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Mnt Goat - I am bringing you very good news and very optimistic news…I am now hearing from all channels of my sources from the CBI, IMF and from my contacts in the USA. They tell me now the RV is strictly in the hands of the Iraq government and the CBI is simply waiting for the final go –ahead from them. All agreements have been signed and Iraq has stated that they want to RV to happen on their time schedule and not be forced into a date. The agreement contains a window from yesterday to Jan 31st. There is also a debate about the rate but I am hearing they have settled this now too.

Iraq announced on Saturday they would have the final budget, with any corrections, to the council of representatives (parliament) by Tuesday 1/27 and that parliament is expected to hold the final vote on Wednesday 1/28.  … follow the 2015 budget final voting session. From this you will know how close we are to the RV.  Does Iraq technically need the RV to open their budget and spend it? …NO! However they would like to align the budget with many of their new laws that mandate and legalize the spending of the budget money.  This is why I am now hearing too that there is a very high probability that Feb 1st will not come and go without an RV.
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Aggiedad77 - Article:  “Parliament to end the first three laws of reading“  More reading on laws by Parliament yesterday… meanwhile they did nothing on the budget…they do recognize the need to get the budget vote sped up which is a good thing…I’m still looking for completion by the end of January…depends on who you talk with in the Finance Committee as to whether you believe they are actually done with the budget and ready for a vote….look for more by Wednesday.
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Dinar Morning Drive Call…

Dinar News with BGG – 1/26 (10:00am)

Click-n-listen

Smart phone user link – Click here

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sczin11    ***  BREAKING NEWS ***  JUST RELEASED…12:05 PM EST SUNDAY JANUARY 25, 2015  “Member of the Finance Committee: 2015 budget will be approved next Thursday“.
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MyLadies - I THINK WHEN YOU TAKE THE GLOBAL CORRECTIONS THAT ARE TAKING PLACE, THE STRIFE IRAQ IS FACING WITH OUT A CURRENCY, THE MESSAGE ABADI SEEMS TO BE SENDING TO DUKE AND DUKE AND THE REASONING FOR THE JOB BEHIND THE DINAR I HAVE TO CONTINUE TO SAY WE ARE SO VERY CLOSE…STAY ALERT FOR THE SIGNALS….VERY VERY VERY SOON I THINK WE WILL BE OFF THIS RIDE AND ON TO BIGGER BETTER THINGS.
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Millionday - THERE WAS A HUGE ECONOMIC FORUM IN IRAQ TODAY [SATURDAY] THAT WAS TO ACTIVATE THE PRIVATE SECTOR AND THE LAWS PERTAINING…APPLICATION OF ALL OF THESE LAWS INCLUDING THE HCL…ALL AT THE SAME TIME.   THEY NEED TO MOVE FUNDS IN AND OUT OF IRAQ FOR THIS TO ALL WORK SO THEY ARE FACILITATING THAT.   IN ORDER TO MOVE FUNDS IN SIDE AND OUT AND FACILITATE THAT — IT HAS TO BE INTERNATIONALLY RECOGNIZED.
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tlm724 - Iraq has control of their destiny now, no more restrictions or sanctions, they have a mostly unified GOI and strong leaders blazing the trail. They are applying the monetary reform and have a new CBI Law and the Banking law plus the Investment Law amendments ready for parliament.  there are several factors confirms the possibility of the high value of the dinar against the dollar…the most prominent is the existence of a great desire for investors Foreigners buying the Iraqi dinar.  I am sure there are way more entities buying dinar than just us lil investors…countries buying it for the foreign reserves, large investors etc.   the fact that there is a “great desire” is very encouraging because remember supply and demand helps raise the value as well…in addition to having an excellent cash reserve, which covers the local currency…plenty of money to cover all the dinar out by 150 % …there is no reason why the CBI should not let the dinar loose, get it off the programed rate…
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home7

Iraqi Dinar/Dollar auction 1-26-15

Currency Auctions Announcement No. (2873)

This daily currency auction was held in the Central Bank of Iraq on the 26-Jan-2015

The results were as follows:

25k-Iraqi-Dinar-200x96DETAILS                                                              NOTES
Number of banks                                                14
Auction price selling dinar / US$                    1166
Amount sold at auction price (US$)               77,907,000
Total offers for buying (US$)                           77,907,000

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

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Aggiedad77 - Article:  “Decision: Parliament will not shut down this week, but after the adoption of the budget“  …encouraging news it is…they will not take weekend breaks until the budget has been voted on…well get ‘er done then…maybe Wednesday or sooner…
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Poppy3 - THE NEW RATE IS VERY NEAR.   THE RATE HAS TO BE ABOVE THE USD IN VALUE AND MY OPINION THE LOWEST WOULD BE BETWEEN $1.25 TO $1.50 BUT I REALLY AND ALWAYS HAVE THOUGHT THEY WILL TAKE THE JUMP TO $3.00 PLUS TO HELP QUALIFY FOR ALL THEIR NEW LOANS, PAY BILLS, AND SUPPORT THEIR BUDGET.   ANYTHING LESS WILL MAKE IT TAKE YEARS MORE TO RECOVER AND DEVELOP MUCH LESS REBUILD THEIR INFRASTRUCTURE.
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tman23 - AT SOME POINT IRAQ WILL HAVE TO MAKE THE DECISION ON THEIR CURRENCY, I AM OF THE OPINION THE DECISION HAS BEEN MADE AND NEXT WEEK WILL BE MOST REVEALING… The Budget will be voted this coming week and expect to see the real fireworks on or before 1/28. 
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Check out the Dinar Corp 120+Max – it’s EQUITY!!

Commercial Solicitation

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Millionday - Article quote:  “Iraqi dinar, in addition to having an excellent cash reserve, which covers the local currency, as well as the dinar currency traded publicly in the global currency markets.“  GLOBAL CURRENCY MARKETS — THEY ARE GOING TO FOREX…WHOOPOW  THAT MEANS BACK TO A REALITY RATE FOR THE MARKET.  [When will they start trading on Forex?]  THEY SAID THAT NOW IS THE TIME TO TAKE THE CHANCE WITH IT…THIS GOES WITH THE ANNOUNCEMENT THEY MADE TO THE CITIZENS ABOUT BEING READY IMO.  THEY ARE ANNOUNCING THAT THEY ARE RAISING THE RATE HIGH AND GOING TO GLOBAL MARKET – THAT IS NOT NORMALLY ANNOUNCED A LONG TIME BEFORE THE MARKET ENTRY.

[I am extremely excited but would be more so if that post came from the CBI.]  THE REASON I AM EXCITED IS TWO FOLD — ONE THEY ARE OPENLY TELLING THEY ARE GOING TO THE GLOBAL MARKET AND TWO — THEY ANNOUNCED THAT THE GOV IS READY AND THAT CAME FROM THE GOV — CBI HAS STATED A LONG TIME AGO THEY ARE READY IN OPEN ANNOUNCEMENT.   Quote:  “Revealed the appearance of Mohammed Saleh adviser to Prime Minister Haider al-Abadi Economic Affairs proximity of key economic laws contribute to the recovery of the Iraqi market and investment opportunities.“  NOW WE ARE HEARING WHAT FROM SALEH?  HE TOO IS STATING IN OPEN THAT THEY ARE HEADED TO A MARKET ECONOMY AND DEVELOPMENT FOR IRAQ.
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My Ladies - THE BUDGET WAS NOT VOTED ON AGAIN BIG BIG SURPRISE…NOT!!  PARLIAMENT CAME, THEY SAW, THEY LEFT…THEY VOTED FOR NOTHING AT ALL, NO BUDGET, AND NOTHING NEW.   WE ARE NOT WAITING FOR A RATE IN THE BUDGET. WE ARE SIMPLY WAITING FOR THEM TO PASS THE BUDGET. WHEN THEY PASS THE BUDGET THEY WILL NEED TO BE INTERNATIONAL…AT THE PRESENT TIME IRAQ HAS A PROGRAM RATE THAT CAN NOT BE USED ON THE INTERNATIONAL STAGE. SO WE ARE WAITING FOR THEM TO JUST GET THEIR CURRENCY BACK AND HAVE IT BE TRADABLE AT WHATEVER RATE.
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Kaperoni - the currency cannot wait 4 years.  I believe the dinar will start this year in 2015.  But people need to realize this is much more than the currency...its the whole transition to a market economy.
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Opportunity To Raise Value Of The Dinar

BAGHDAD - Mostafa Hashemi economists and experts describe the Iraqi monetary policy as good as maintained the stability of the exchange rate under difficult economic conditions and slow march towards progress the country witnessed in previous years, despite Iraq’s possession of the elements of the economic boom in all productive sectors…

…Baidhani [said] that Iraq now has the expertise and economic efficiency in homes experienced enough for taking the lead and initiate self-reliance to develop the economy through reform developmental programs and policies that fit this stage application.

mentions that there are several factors confirms the possibility of the high value of the dinar against the dollar, the most prominent is the existence of a great desire for investors Foreigners buying the Iraqi dinar, in addition to having an excellent cash reserve, which covers the local currency, as well as the dinar currency traded publicly in the global currency markets…

Read More: http://dinarupdates.com/blog/
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Chattels - I opined earlier this week that i believe that the budget bill will be on the desk of the President for signature by February 1st.
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Aggiedad77 - Article:  “Finance Committee confirms the possibility of adoption of the budget during the current week“  A member of the Finance Committee spoke and has related that the committee is ready to push the budget for 2015 back to Speaker of Parliament for a vote probably later this week...will that be on Monday…remains to be see at this point…
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WMAwhite - [WE HAVE SEEN A RELEASE THIS MORNING FROM RAFIDIAN IN UAE, STATING QI CARDS LOADED FOR RETIREES THERE...I believe the Qi Cards are another indicator…an item that is dependent upon the IQD changing status within the central banking system (BIS).  All credit card transactions conducted internationally move through the central bank system which includes the BIS…the BIS is the world’s central bank accounting system…keeping track of who owes what.    …the IQD will need to be recognized by the BIS, the U.K…everywhere.
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home7

Iraqi Dinar/Dollar auction 1-25-15

Currency Auctions Announcement No. (2872)

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

The results were as follows:

25k-Iraqi-Dinar-200x96DETAILS                                                              NOTES
Number of banks                                                12
Auction price selling dinar / US$                    1166
Amount sold at auction price (US$)               97,918,000
Total offers for buying (US$)                           97,918,000

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

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Tlar - [how important do you think it is to have someone other than 'Keywords' as the Governor of CBI for this to go down? (like maybe getting Shabibi back in the saddle?).]   As far as Shabibi getting back in the saddle, I don’t think we will see that although I believe he is consulting with the CBI.  Being the architect of the plan, he is a valuable resource
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sczin11 - [I saw where you said, "Shabibi is on deck". What do you mean by that?]  [reference OOTW & sczin post 1-23-2015]   I AM A BIG BELIEVER HE WROTE THE PLAN, HE UNDERSTANDS THE PLAN, HE HAS GREAT CONNECTION WITH IMF, THE PEOPLE OF HIS GREAT COUNTRY LOVE HIM, YES, I BELIEVE HE WILL BE GIVEN THE HONOR, THE PRIVILEDGE, TO PLACE IRAQ ON THE WORLD TRADING PLATFORM!
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Millionday - THE SPEECH GIVEN BY ABADI TODAY [FRIDAY] AT THE ECONOMIC CONFERENCE…IS VERY POSITIVE AND HE IS VERY CLEAR THAT THEY HAVE TO MOVE FORWARD WITH REFORMS AND THEY ARE IN NEED OF THE FOREIGN INVESTMENTS.  ABADI PLEDGED TO ADVANCE THE ECONOMY OF IRAQ AND ASKED FOR HELP DUE TO THE MOVE FROM FOREIGN COUNTRIES WITH SECURITY ETC. THAT SAYS A LOT — THE RESULT WOULD BE THE REMOVAL OF TERRORISM FROM DAASH.
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From NEWS TIME with Millionday (Saturday nite)

Millionday - Article qoute: “He Baidhani that Iraq now has the expertise and economic efficiencies in homes experienced enough for taking the lead and initiate self-reliance to develop the economy through reform developmental programs and policies that fit this stage application.

mentions that there are several factors confirms the possibility of the high value of the dinar against the dollar, the most prominent is the existence of a great desire for investors Foreigners buying the Iraqi dinar, in addition to having an excellent cash reserve, which covers the local currency, as well as the dinar currency traded publicly in the global currency markets…”

Read More: http://dinarupdates.com/blog/
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sczin11 - NO ONE SAYS IT IS DELAYED…IT IS A VERY COMPLICATED PROCESS, AND A VERY DETAILED PLAN TO EXECUTE.  THE PROCESS, HAD TO BE ESTABLISHED…AND THEN YOU HAVE THE MALIKI CREW TO BE DEALT WITH…WE ARE IN A GREAT PLACE, AND SHOULD ALL BE PROUD OF WHAT HAS BEEN ACCOMPLISHED THUS FAR…DR. SINAN AL SHABIBI, IS WAITING FOR THE CALL TO DUTY!
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WMAwhite - Iraq has told us that they want to join the world financial markets…and they want investors…in order to do both Iraq via the CBI has to promote confidence in the IQD…to do that the CBI needs to add value to their currency.
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Kaperoni - …the recent articles from the CBI indicating they are ready to “participate and promote development” are encouraging.  I want to point out that Dr. Bakri [Economist]  states the dinar “first needs to improve” (raise in value) before they can move to Article VIII.  In other words, the float may be institutional and gradual before they accept Article VIII and a new Exchange Regime.  I also get the impression that the dinar can be convertible worldwide without technically accepting Article VIII.  And lastly, he says… “improvement comes through delete some zeros“  which to me again seems to imply a gradual appreciation because as the dinar rises, zeros begin to go away…   he did…confirm the process is moving along, that the reforms are happening, and there is promise…and more importantly the new GOI is moving in the right direction.  Iraq’s economy is complex for sure. But I don’t think what we are looking for will take much longer.  As for currency reform, the timing will be kept secret within the CBI…
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Shawki reveals Deputy Appellate Court nomination for the presidency of the Federal Court instead Mahmood

pictures / news / img / shawaqy.jpg

MP for the citizen Bloc sound Shawki, Saturday, on the nomination of Deputy Court of Cassation for the presidency of the Federal Court, succeeding Medhat al-Mahmoud, adding that the

House of Representatives will vote at its meeting scheduled for today on the presidential candidate of the court. He said Shawki told / information /, “The House of Representatives Speaker Salim al wanted to change the axis adds President of the Federal Court in a hearing last Thursday, but the time did not allow it.”…

Read More: http://dinarupdates.com/blog/
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Tlar - One thing I have always thought is that any change in value will have to come just before the budget is printed in the Gazette.  If that is true then it follows they can’t pass the budget without first changing monetary policy.  If this is true then it might answer the question of why the budget is taking so long to fix.  Iraq seems determined to pass this budget quickly and all parties are on board, but to make the changes and modifications should not take weeks as it has done already especially in light of the fact that they are in such a hurry.  Word processors should be able to do this overnight.  Not take weeks.  Something else IMO is holding up the vote and I think its the rate.  Both readings are done leaving only the vote but they keep putting it off.  My personal opinion is that the hold-up is the rate and we won’t see a vote until we see monetary change because IMO the budget cannot be opened at 1166.  As I say this, we all know this is Iraq so we know they CAN open it at 1166 but IMO they won’t.
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OOTW & sczin11 - Ministry of Planning and develop an economic plan for four years“   THIS IS ALL GREAT NEWS EVERYONE – UNDER THE AGREEMENT WITH UNITED NATIONS DEVELOPMENT PROGRAM, IRAQ ISSUES A 4 YEAR NATIONAL DEVELOPMENT PLAN - THE LAST ONE WAS AUTHORED UNDER THE MALIKI REGIME, AND WAS NOT FAVORABLE RE CURRENCY REFORM  – AND SO NOW THEY’RE TELLING US THEY’RE WORKING ON A NEW PLAN, FOR THE NEW IRAQ – GREAT NEWS. WHAT A DAY OF NEWS…WHAT A WEEK OF NEWS…DR. SINAN AL SHABIB IS ON DECK!
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Millionday - [doesn't the rv, take care of many of their problems quickly?]   MY POINT EXACTLY AND HOLD OFF ON INVESTORS WOULD NOT MAKE SENSE EITHER – THE OTHER COUNTRY`S HAVE TO MAKE MONEY AS WELL AND THE GLOBAL CONDITION WOULD BE IMPACTED BY THIS NEW MARKET — IT MAKES ECONOMIC SENSE. WITH ALL WE ARE SEEING IT IS GETTING EXCITING — I AM STILL IN SHOCK OVER THE GOV AND CBI STATING THEY ARE READY TO MOVE FORWARD.  THEY NEED IT NOW — ALL REFORMS AND ADVANCEMENTS — THEY NEED RIGHT NOW.  REMEMBER THEY ARE IN A HUGE HURRY WHEN YOU COMPARE TO WHAT WOULD HAVE HAPPENED IN THE PAST…

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

Commercial Solicitation

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Tlar -  Sure looks like they are getting ready to open the doors for international business.  I love the fact that both the government and the Central Bank are on record as saying they are ready.  I also love the article stating the bank will assist in raising employment and and assist in economic growth.  Looking at all the recent articles one can help but feel we are on the cusp of seeing real changes including monetary change.  Keeping my fingers crossed that we are close especially with the 4 yr economic plan from the planning ministry starting in 2015.  I think it is more than possible that we will see everything implemented within the next twelve days based on what I have seen and maybe sooner.

Speculation on my part but they seem to be accelerating this economic program to free the economy and keywords seems to be on board with everything ready to support it.  …things are getting pretty exciting.   My belief of a $3+ RV has not changed.  It is my belief and best guesstimate based on pieces from different articles is that there is less than 1 trillion dinars circulating in Iraq today. It would be IMO a no brainer for them to be able to justify and support this figure of $3+.  IMO we will know the real truth soon. 
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Millionday - [how does a currency become international?]  THEY RELEASE IT TO THE MARKET AT A REALITY RATE — THEY ARE NOW RELEASED FROM SANCTIONS BUT THEY WILL ACTIVATE THE LAWS THAT MOVE THEM TO A MARKET ECONOMY SO THEIR CURRENCY IS PRICED PER THE INTERNATIONALLY COMPLIANT PRICE INDEX CALCULATION…  [How many laws do they need to activate?]  I DONT HAVE A COUNT BUT IT IS THE LAWS THEY HAVE BEEN DISCUSSING AND WORKING ON FOR INTERNATIONAL INVESTMENT BECAUSE THE MARKET ECONOMY GOES BOTH WAYS — SUPPLY AND DEMAND.
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Adam Montana - Here’s what’s going on in Iraq right now:  The budget looks good to go through ANY DAY now. There is a “Hydro Carbon Agreement”, which looks good to turn into a Hydro Carbon LAW shortly after the budget is passed. The Kurds and Baghdad are playing VERY nice… and those three items combined spell “RV SOON!”, if you ask me!
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A senior source: There is a great reforms in the judiciary and “Medhat al-Mahmoud,” the first excluded

BAGHDAD – ((eighth day)) A senior source said, that there is a great reforms in the judicial establishment, which includes the Public Prosecution and the Appellate Court of the Federal Court.

The source said in his speech ((eighth day)) that “House Speaker Salim al-Jubouri, the Prime Minister Haider al-Abadi agreed finally to bring about the changes in the judiciary because of some wrong decisions.

He added would be excluded that the first president of the Supreme Judicial Council, Medhat al-Mahmoud because of some of the decisions issued by the previous government in time. (AA)

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

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OOTW - THIS IS ALL GREAT NEWS EVERYONE - UNDER THE AGREEMENT WITH UNITED NATIONS DEVELOPMENT PROGRAM, IRAQ ISSUES A 4 YEAR NATIONAL DEVELOPMENT PLAN – THE LAST ONE WAS AUTHORED UNDER THE MALIKI REGIME, AND WAS NOT FAVORABLE RE: CURRENCY REFORM (STATED THE IQD WOULD BE RELEASED TO THE INTERNATIONAL MARKET AT 1166 IN 2017) – AND SO NOW THEY’RE TELLING US THEY’RE WORKING ON A NEW PLAN, FOR THE NEW IRAQ – GREAT NEWS.
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WMAwhite -
 The GOI and the CBI are telling us that they want to enter the world financial market.  They can’t do that unless they have their own sovereign currency that is of some value.
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Poppy3 - Iraq is not broke, they have a cash flow problem.  They have more reserves than any country their size or even in the world.  They just bought 36 tons of gold to further back their currency & give them more reserve backing for that.  You don’t do that if you’re broke.  They have a target date of February 1st to get this done.  Whether they meet that date none of us know.  But, articles are saying that the GOI and the CBI are in agreement about their economic future and are ready to complete this & go to a world market economy.  All indicators are agreeing with what sources are saying.   I have never seen this in the 11 years that I have been doing research on Iraq & our investment.   The material we have in ink & sources as well are all lining up and headed in our direction. I’m extremely excited about what we are seeing.
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MORE FROM DAVOS - 

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

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sczin11 - “New companies to start trading in Iraq Stock Market (ISX)”  …WHY WOULD 8 MONEY TRANSFER COMPANIES BE UNDERWRITTEN AND PLACED ON A STOCK EXCHANGE, WHERE INVESTORS NEED TO BE CONVINCED TO INVEST IN THEIR BUSINESSES, OR THEY WILL ….GO OUT OF BUSINESS… SO THEY MUST BE PRETTY CERTAIN THEIR BUSINESS LONG TERM GOALS ARE PRETTY POSITIVE LOOKING IN TERMS OF MAKING PROFITS, AND IT MUST BE VERY CONVINCING TO THE INVESTORS OR THEY WONT PUT THEIR MONEY INTO THOSE COMPANIES.

THAT BEING SAID…IF THE COMPANIES FEEL CERTAIN OF THEIR CONTINUED GROWTH AND SUCCESS, THEY MUST FEEL CERTAIN THERE WILL BE INTERNATIONAL TRADING AND THEREBY GETTING FOREIGN DOLLARS INTO THEIR COMPANIES WITH EASE, AND MORE IMPORTANT, WHAT WILL MAKE THESE MONEY TRANSFER COMPANIES PROSPER, THE USE BY THE IRAQI CITIZENS, AND FOREIGN WORKERS, SENDING MONEY ALL AROUND THE WORLD…INTERNATIONALLY.
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BGG - The Market rate, which is different from the CBI rate is showing some sporadic signs of improvement IMO, the budget is a foregone conclusion & especially according to sources, they are going to get that done.  News that has been coming out is just breathtaking…very good stuff.  For me it looks very promising.

(notes taken from 1/22 Call w/Poppy and Mr White)
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Millionday - Article quote:   ”al-Hashemi, at a time when the country began preparations to face the economic challenges, confirmed the government agencies, including the Central Bank of Iraq readiness to take measures that will improve the economic reality.“   THE ECONOMIC REALITY IS THE ACTUAL PRICING CALCULATION FOR THE REALITY VALUE OF IRAQ`S CURRENCY AND TRADE…CBI HAS CONFIRMED THAT THEY ARE READY TO TAKE THE MEASURES TO IMPROVE THE ECONOMIC REALITY AND THE BANK SHARES ALOT IN RAISING THE VALUE AND MODIFYING THE RATE TO GOOD INTERNATIONAL RATES AT THIS TIME OF ECONOMIC DEVELOPMENT FOR IRAQ – THE GOVERNMENT AND CBI IS STATING THAT THEY ARE READY TO TAKE THE MEASURES THAT WILL IMPROVE THE ECONOMIC REALITY — MEANING THE ACTUAL RATES AND RAISING THE PURCHASING POWER OF THE DINAR AND ALSO MOVING TO A MARKET ECONOMY AND ALL THAT IS PART OF THE ECONOMIC REFORMS…THE GOVERNMENT HAS NOT ANNOUNCED THIS BEFORE … 

THE TIMING OF EVERYTHING ECONOMICAL AND TRADE IS ALL COMING TOGETHER AT THE SAME TIME — THE BUDGET IS EXPECTED SATURDAY TO BE IN PARLIAMENT FOR VOTING… IT ALSO HAS TO BE PRINTED IN THE GAZETTE AND AS WE ALL KNOW MY OPINION ON THAT IS THAT THEY WILL DO A MASSIVE PRINT OF LAWS THAT REFLECT AND IMPACT EACH OTHER.   [The president has to sign to make Law and he has 15 days to do that.]  THE BUDGET WILL BE APPROVED BY THE PRESIDENT – HE HAS STATED THAT HE WILL NOT TAKE THE 15 DAYS AND I WOULD NEVER EXPECT THAT WITH ALL THAT WE ARE SEEING –  HUGE ANNOUNCEMENT THAT THE GOV AND CBI IS READY BEFORE THE BUDGET IS DONE.
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Dinar Morning Drive Call…

Dinar News with BGG – from 1/23 (10:00am)

Click-n-listen

Smart phone user link – Click here

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Adam Montana - [is it possible or likely the Dinar could come out on the FOREX as at tradeable currency at 1166 (or close to that) and simply be managed, or is it really necessary for it to RV/RI before going international.  Can the CBI RV/RI and it not be internationally tradeable on the FOREX?]  Either way is possible. And I will like it either way. 
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Millionday - ALLAWI HAS ARRIVED IN SWITZERLAND FOR THE GLOBAL ECONOMIC CONFERENCE… ABADI IS AT THE HEAD OF THE IRAQI DELEGATION.  ALLAWI WILL BE PRIVILEGED TO DEEPEN THE ECONOMIC ROLE WITH ALL COUNTRIES.  ALLAWI  IS THE VICE PRES AND HAS THE POWER TO MAKE DEALS ETC.  [this may mean nothing for us as far as rv goes?]  I THINK WITH THE SUBJECT MATTER IT HAS TO DO WITH THE STAGE IRAQ IS IN BY MOVING TO A MARKET ECONOMY AND ALSO INTERNATIONAL INVESTORS BEING PROMOTED TO COME TO INVEST IN IRAQ.  INTERESTING THAT THE PARLIAMENT IS EXPECTED TO HAVE THE BUDGET FOR VOTE ON SATURDAY AND THE CONFERENCE ENDS ON SATURDAY (24TH). VERY NICE THAT SWITZERLAND RAISED THEIR CURRENCY RIGHT BEFORE THE ECONOMIC CONFERENCE AS WELL
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Poppy3 - TODAY THE CBI AND GOI FOR THE FIRST TIME IN MY 11YEARS OF RESEARCH HAVE ACTUALLY ANNOUNCED THEY ARE IN UNISON AND FULL AGREEMENT TO MOVE TO A MARKET ECONOMY.   THIS MEANS A NEW RATE.  EARLIER THIS WEEK I WAS TOLD BY THE BEST INTERNATIONAL FIGURE THAT THIS GOI IS MAKING EVERY EFFORT TO COMPLETE THE MOVE TO JOINING THE WORLD ECONOMY NO LATER THAN FEB 1.   NOW THAT IS THEIR GOAL TO ACHIEVE AND I AM WATCHING THEIR ACTIONS AND THEY ARE DEFINITELY WORKING THERE BUTTS OFF TO MEET THAT GOAL. I AM PUMPED AND I AM MORE EXCITED THAN EVER BEFORE THAT THEY WILL MEET THIS DEADLINE.   …NO HYPE JUST PLAIN AND SIMPLE GOOD SOLID INFORMATION.

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

Commercial Solicitation

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sczin11 - [do you think we will be waiting very much longer?]  I REALLY DONT DO RATES AND DATES…OPINIONS, LOTS:) WE ARE REAL GOOD NOW…SO MUCH IS HAPPENING…

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tman23 - Al-Zubaidi, directed to reduce transfer fees in half …Zubaidi was instructed to study the possibility and the feasibility of a public company for transport management to reduce vehicle registration fees on domestic transport” … SO THEY HAVE CUT SALARIES IN HALF, AND EVERYDAY ANOTHER ARTICLE SURFACES WHERE 50 – 70% CUTS ARE BEING MADE…EVEN TAXES FOR GOVERNMENT INCOME HAVE BEEN CUT… EITHER IRAQ IS GOING DOWN IN A SPIRAL OR THEY ARE PREPARING FOR A CURRENCY WITH MORE VALUE…YOU DECIDE!

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Poppy3 - TWO PRICES ON EVERYTHING IN IRAQ. USD PRICE AND DINAR PRICE ON SUCH AS BREAD, COKES, CHEWING GUM ETC. PLUS all change is made IN DINAR ONLY…READY TO MAKE RATE CHANGE WITH BAR CODES IN A INSTANCE . IT WILL NOW BE EASY FOR RETAIN PROPRIETORS TO MAKE THE CHANGE.
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Dinar Talk INFO Call!!

w/BGG, Poppy and Mr White
from – Tues 1/22

Click-n-listen

Smart phone user link – Click here

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Aggiedad77 - After a relatively successful session Parliament called an end to its day and will reconvene on Saturday, perhaps in a private or secret session where they may further discuss the Iraqi National Intelligence Service draft law…again…Nothing was mentioned on Thursday regarding the budget…and at this point it is too soon to tell if Saturday will have anything on the agenda concerning the budget.
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Poppy3 …TWO SOURCES….TOLD ME TWO WEEKS AGO IRAQ GOI AND CBI ARE PUSHING TO IMPLEMENT ALL LAWS AND ECONOMIC REFORM BY FEB 1 AT THE LATEST.  WELL BOTH TODAY [WEDNESDAY] HAVE RE-ITERATED THE SAME INFORMATION. THEY SAID THAT IS STILL THEIR GOAL TO ACCOMPLISH.  LETS JUST PRAY THEY GET IT DONE ON TIME.
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Chattels - MY BELIEF IS THAT THE 2015 BUDGET WILL BE PASSED BY THE PARLIAMENT AND ON THE PRESIDENT’S DESK FOR HIS SIGNATURE BEFORE THE 1ST DAY OF FEBRUARY. WE SHALL SEE.  THE BUDGET EVENT IS LIKELY TO BE RATHER ANTICLIMACTIC AS IN YEARS PAST RELATIVE TO THE ADVENT OF OUR LIQUIDITY EVENT THAT IS.
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ISIS Suffers Heaviest Defeat in Iraq in a Single Day

ISIS Suffers Heaviest Defeat in Iraq in a Single Day

Over the last twenty-four hours, ISIS has been defeated in every front in Iraq in unprecedented way. From Mosul to the north to Anbar to the west and Diyala to the east, Iraqi government forces, Shiite militias, Sunni tribes and Kurdish forces were all victorious in battle…

Read More: http://dinarupdates.com/blog/
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OOTW - [how long will all this take?]  I ASSUME YOU’RE TALKING ABOUT AN “RV”?  I PERSONALLY DO NOT THINK WE GET AN RV UNTIL LAWS ARE AMENDED AND PASSED.  MY PERSONAL FEELING AND OPINION, IS THAT WE NEED MORE STABILITY IN IRAQ; SECURITY, LAWS, BANKING POLICIES/LAWS.  THAT’S GOING TO TAKE TIME.
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sczin11 - TODAYS [WEDNESDAY'S] RELEASE ABOUT EMERGENCY SESSION TO VOTE, AND READING BETWEEN THE LINES, IMHO, …THE RATE IS NEEDED FOR THE BUDGET TO BE EXECUTED…BUDGET NEEDS RV, RV DOESN’T NEED BUDGET…, JMHO
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Millionday - [what can the cbi do to help unemployment?]   THEY CAN ADVANCE ALL OF THEIR BANKING FOR INTERNATIONAL BANKING AND PREPARE THE RATE FOR INTERNATIONAL ACCEPTANCE AND RAISE THE PURCHASING POWER OF THE DINAR SO THE PRIVATE SECTOR CAN AFFORD TO HIRE BY MOVING TO A MORE PRODUCTIVE MARKET ECONOMY.  THEY HAVE ENOUGH RESERVES TO BACK THE CURRENCY 1 AND 1/2 TIMES WHAT THEY NEEDED TO SUPPORT THE VALUE.  [In order for them to be able to exchange our dinar would they know how much is out there?]  YES THEY KNOW EXACTLY WHAT IS OUT OF COUNTRY.  IT IS UNDER STATS ON CBI SITE I BELIEVE AS WELL.
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Urgent .. Jubouri: Supreme Judicial personal nominated for the presidency of the Federal Court

[Baghdad-Line] - House Speaker Salim al-Jubouri said on Thursday that the Supreme Judicial personal nominated for the presidency of the Federal Court.

And between parliamentary source told all of Iraq [where] that “Jubouri show that paragraph to vote, noting that the President of the Council refused to disclose the name of the candidate.”

The House of Representatives held its meeting today under the chairmanship of Salim al-Jubouri, to discuss a number of laws .anthy 2

BGG ~ This may not be good news for Medhat al-Mahmoud… good for us though.

Read More: http://dinarupdates.com/blog/
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Adam Montana - [The 2015 budget was SUPPOSED to be on Parliament's agenda this Wednesday, 1/21!  Now it is NOT on there and they are saying the budget will be voted on within ANOTHER week!  Do you think the budget has to be passed BEFORE the RV?]  There is no law or rule that says the budget must be passed before the CBI can make a change on how much it pays for the currency.
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Millionday - EVERYONE TAKE ONE SEC AND JUST READ THIS >>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>
“…at a time when the country began preparations to face the economic challenges, confirmed the government agencies, including the Central Bank of Iraq readiness to take measures that will improve the economic reality.”

From News Time last nite - www.DinarUpdates.com
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Aggiedad77 - [...IF we don't see the IQD go UP in value and become International before March, is there another time frame...]  …at this point, I would not be too concerned with a new time frame…be looking at this day to day and watch what transpires…a new window is a mute point just now…I myself am excited by all that we are seeing…and at this point can’t wait for PM Abadi to get back to Baghdad…I think for anything to happen he needs to be close to home.  Study what they are doing and saying…looking for hints…I don’t see them ever “announcing” in the news “Here it comes”…I think we will be as surprised by the action as the world was surprised by the Swiss action…so in the meantime we pay attention to what is going on and watch their actions…especially that of the CBI. [...could you tell me when PM Abadi is expected back?]  I’ve only seen it mentioned that he is scheduled to speak on Friday the 23rd…so I’m doing a little presuming here that he may come back Friday night or maybe Saturday morning…

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Integrity resentful of Mishan al-Jubouri, seeking to hide the corruption of files affecting Maliki government

Baghdad-Iraq-Presse: press reports quoted a parliamentary source, on Wednesday, the MP for the coalition of Arab Mishan al-Jubouri, seeks to enter as a member of the Parliamentary Integrity Commission by all means. ”…

Read More: http://dinarupdates.com/blog/
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Chattels - IT APPEARS THAT THE BUDGET LAW MAY NOT BE PLACED UPON THE AGENDA FOR PARLIAMENT BUT RATHER BE ADDRESSED ON AN EMERGENT AND DAY BY DAY BASIS UNTIL AND WHEN READY WHICH EXPLAINS ONE / SOME OF THE RECENT CRYPTIC / CONFLICTED NEWS ARTICLES, IMO.
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Adam Montana - I’m not going to beat around the bush… things are getting intense!  Budget being prepared based on 3.3 million b/d and $60 per barrel.  I don’t like the $60 per barrel price, BUT: Iraq exported 4 million b/d in December and they are looking to increase their production… seeing as how Iraq has one of the largest reserves in the world, the HCL is sure to be completed very soon, the Kurds and Baghdad are playing nice (finally!!!), I believe the increased volume will easily make up for the lower price of oil and Iraq will have no problems with the budget as it is. It’s also important to remember that Iraq has barely scratched the surface of their reserves. As we watch them progress, with more and more companies investing into their production, it will continue to rise and a lot of experts even believe that Iraq will overtake Saudi Arabia as the world’s leading oil exporter… all that says to me is ”COME ON, RV!”

I won’t pretend to know when they will actually make it official, but my gut feeling is that this week is a strong possibility, with a quick move after that to turn the HCA into the HCL, and then revalue the official rate on the dinar. When this happens, it’s going to happen so fast our heads will spin!  The only thing I’m actually worried about right now is if the CBI will peg it or float it. If they choose a float, my advisors are telling me the best play might be to take the first rate we get, because that could easily be the best rate we’ll see for a long time. In other words,  if it comes out at $1, it could quickly dip to a dime or less and then take years to rebound. I have no doubt that it would eventually come back…  Even if they don’t float it, they can still adjust the rate down again with no warning, explanation, or apology.
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sczin11 - IT SHOULD BE NOTED THE WORLD IS COMING TOGETHER FOR THE SUPPORT AND BENEFIT OF IRAQ, WE HAVE SEEN LOANS BEING DISCUSSED AND COMPLETED WITH IMF, WORLD BANK, JAPAN, AND OTHERS…TODAY WE SEE CREDIT APPROVED BY TURKEY…AND THE UNITED STATES OF AMERICA! HUGE…WHY WOULD ANYONE GIVE CREDIT TO A FALTERING UNSTABLE, COUNTRY? MUST BE A GOOOOOOD REASON…LET US NOT FORGET THE ANNOUNCEMENT YESTERDAY BY THE CABINET…ALL IN ONE SENTENCE, ALL IN ONE BREATH…THE MINISTER OF OIL AND PLANNING, MINISTER OF FINANCE, THE PRIME MINISTER, AND…THE CBI…WOW, WHEN HAVE WE EVER SEEN THAT BEFORE?  SOMETHING IS TRULY ON THE HORIZON.
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The start of the parliamentary session, headed by businessman and the presence of al-Jubouri, 250 deputies

BAGHDAD / Source News / .. the sixth meeting of the House of Representatives began Legislative separate them second legislative year, the first third of the parliamentary session this afternoon, headed by Salim al-President of the Council and the presence of 250 deputies.

The agenda of the meeting includes the first reading of the draft Iraqi National Intelligence Service Bill and the Iraqi Media Authority Act. ”…

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

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WMAWhite - Article quote:  “Council of Ministers, on Tuesday, forming a crisis cell headed by Prime Minister Haider al-Abadi and membership and finance ministers, oil and Planning and the Governor of the Central Bank shall establish the priorities of exchange.”    Everybody on this list is part of the GOI, Parliament…the Governor of the CBI is the odd man out unless the future status of the IQD has something to do with their planning…IMO, he has the key to the car.  They want to get into the world markets and they can’t get there without the CBI.  The CBI are the one’s that will change the status of the IQD.  
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tman23 - BEST GUESSTIMATE IS VOTING ON THE 2015 BUDGET TAKES PLACE 25TH OR THE 26TH.
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BGG - Article quote:  “Council of Ministers, on Tuesday, forming a crisis cell headed by Prime Minister Haider al-Abadi and membership and finance ministers, oil and Planning and the Governor of the Central Bank shall establish the priorities of exchange.“  This was the biggest news of the day [Tuesday].  All of those included in that meeting, the Prime Minister, Finance Minister, Oil & Planning and the Governor of the CBI, all of these people have something to do with the future of the currency of Iraq…the exchange rate I will say that it is not impossible that the Gov. of the CBI had some standing in that meeting because they think they can possibly get some money (recovered monies) out of him.  However, I find it very curious that he was there.  This is huge news.  The best news is…I don’t think it will matter much longer…
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home7

Iraqi Dinar/Dollar auction 1-22-15

Currency Auctions Announcement No. (2872)

This daily currency auction was held in the Central Bank of Iraq on the 22-Jan-2015

The results were as follows:

25k-Iraqi-Dinar-200x96DETAILS                                                              NOTES
Number of banks                                                15
Auction price selling dinar / US$                    1166
Amount sold at auction price (US$)               108,544,000
Total offers for buying (US$)                           108,544,000

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

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Backdoc - TODAY ON CNBC…THEY MENTIONED IRAQ IS NOW AT 4 MILLION BARRELS PER DAY! WOW! SOON TO BE NUMBER ONE…!
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Millionday - THE OIL MINISTER IS SAYING THAT IRAQ`S OIL PRODUCTION WILL MEET HISTORIC NUMBERS – HOWEVER THE PRICE BEING LOW IS ONLY EXPECTED TO BE FOR HALF THE YEAR PER SOME REPORTS.  SO…THEY ARE GOING TO UP PRODUCTION AND WILL BE DOING VERY WELL BY THE END OF THE YEAR – THEY MUST BE EXPECTING SUCCESS ECONOMICALLY…
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OOTW - THE “EXCHANGE” ARTICLE IS TALKING ABOUT POLICIES TO PROTECT CAPITAL…SO, AT THE VERY LEAST, THEY’RE TALKING ABOUT INSTALLING RECOVERY OF MONIES…CORRUPTIONS MONIES (IN ALL FORMS) AND APPLYING THEM TO THE BUDGET…INSTALLING ANTI CORRUPTION LAWS, ANTI COUNTERFEITING AND MONEY LAUNDERING LAWS/PROCEDURES.  BTW… I DONT CARE IF I’M LATER PROVEN WRONG AND IT TURNS OUT THEY’RE TALKING ABOUT RAISING THE RATE…IT’S ALL GOOD.
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home7

Iraqi Dinar/Dollar auction 1-21-15

Currency Auctions Announcement No. (2870)

This daily currency auction was held in the Central Bank of Iraq on the 21-Jan-2015

The results were as follows:

25k-Iraqi-Dinar-200x96DETAILS                                                              NOTES
Number of banks                                                16
Auction price selling dinar / US$                    1166
Amount sold at auction price (US$)               123,867,000
Total offers for buying (US$)                           123,867,000

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

Market Rate 1207!!

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Poppy3 - DIDN’T THEY ALSO SAY NO LATER THAN JUNE 1ST 2015, I KNOW THAT WAS STATED BUT NOT SURE WHERE IT CAME FROM? I SERIOUSLY DOUBT THEY CAN GO THAT LONG FROM THIS POINT. THEY HAVE PUSHED FAR TO HARD TO GET EVERYTHING ON THEIR GET DONE LIST TO WAIT THAT LONG FROM THIS POINT. …A VERY CONNECTED GOVERNMENT OFFICIAL THAT HOLDS DINAR HAS SAID TWO WEEKS AGO WE WILL SEE SOME RATE CHANGE BEFORE FEB…TIME WILL TELL AND YOU AND I WILL SEE VERY SOON.
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tman23 - Council of Ministers , on Tuesday, forming a crisis cell headed by Prime Minister Haider al-Abadi and membership and finance ministers, oil and Planning and the Governor of the Central Bank shall establish the priorities of exchange.“  The petro dollar comes IN…And then you need to understand the process…as Iraq changed the payment system and is moving to IQD only… The MoF, Oil and Planning, CBI Governor, and the PM…These are the 4 guys that are required for implementing exchange rate change...So a formed cell with these 4 and with the words including exchange is pretty darn exciting

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OOTW - Article quote:  “Council of Ministers , on Tuesday, forming a crisis cell headed by Prime Minister Haider al-Abadi and membership and finance ministers, oil and Planning and the Governor of the Central Bank shall establish the priorities of exchange.“   I’M JUST WONDERING IF THIS WORD “EXCHANGE‘ MENTIONED IN SEVERAL ARTICLES TODAY, IN ASSOCIATION WITH THE WORDS “CRISIS” OR “EMERGENCY” HAVE MORE TO DO WITH COUNTERFEITED MONEY REGULATIONS – INSTALLING THEM, THAT IS.  WE KNOW THEY’VE BEEN WORKING DILIGENTLY TO ACTIVATE ANTI COUNTERFEITING AND MONEY LAUNDERING LAWS/REGULATIONS AND WE ALSO KNOW THAT THERE’S DAASH BANKS OPENING – AND PLENTY OF SLEEPER CELLS…JUST SOMETHING TO CONSIDER.
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We had to change over to a LIVE Dial-in for the call last nite…

760-569-7676 pin# 398647

Replay Link

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tman23 - Decided the Council of Ministers, on Tuesday, forming a crisis cell headed by Prime Minister Haider al-Abadi and membership and finance ministers, oil and Planning and the Governor of the Central Bank shall establish the priorities of exchange“  “ESTABLISH PRIORITIES OF EXCHANGE“  …I’M NOT SURPRISED THIS NEWS WAS RELEASED TODAY (THE 20TH)…AND ISN’T ABADI “SUPPOSIVELY” IN SWITZERLAND…LOL! AND ABADI IS SAYING PASS THE BUDGET…AND BETWEEN THE LINES SHORT OF WORDS IT INSINUATES “DON’T WORRY ABOUT THE NUMBERS”.
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Shredd - [...when are they going to start the movement of the dinar!]  in the coming days, soon, early 2015.  I think as soon as Shabbs is caught up.   look at the reserves situation…Iraq has strongest situation in this regard 1.5x coverage that is monetary policy strength there...not for current policy but the one to come yep, 1.5x or 150%.  that answers the “can iraq add value” question, done.  so, security has been an issue in the past too, terrorist funding, so what did the cbi do. they replaced the current notes, done.   next, stability has been a requirement too, the dinar has proven to be stable for years. Yes it has fluctuated but how close iraq has been to the 2% mark is great to see.

…banking and investment laws are being worked on we’ve been seeing it in the news for the past few months…the budget passing will be good and the laws that should come be passed soon will be even better, Shabbs is back too.  we have a new government that has a leader who has proven to be so much more aggressive and productive than Maliki and he (Abadi) is pushing for economic growth…so, I know I joked saying “soon” but I meant it.  [in your opinion...we should be done with this ride in 2015!]   I expect the gradual process to bring value back to the dinar to start this year… I believe we’ll all have a choice as to when we want to exchange our dinar for the dollar, sooner for less or later for more.  [do you think it will start from 1166 and go up from there?]  I think it is likely.
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Millionday - JUBOURI IS SAYING THAT LAWS NEED TO BE IMPLEMENTED TO PROTECT THE BUSINESSES BOTH DOMESTIC AND INTERNATIONAL…THE GLOBAL COMMUNITY HAS MADE IT CLEAR THAT THEY WANT TO INVEST IN ALL AREAS OF IRAQ.  HIS STATEMENT IS ALL ABOUT THE SUCCESS OF THE ACTIVATION OF INTERNATIONAL INVESTMENT AND THE IMPACT OF THE ECONOMY…THEY ARE ALSO HAVING MORE TRAINING TO ENSURE THE SUCCESS — GREAT NEWS.   THERE ARE MANY LAWS ON THE SHELF THEY CLAIM THEY ARE ACTIVATING ALL AT ONCE TO ENSURE BUSINESS AND ECONOMIC SUCCESS.
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Cabinet decides to form a crisis cell headed by al-Abadi for setting priorities for exchange

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Alsumaria News / Baghdad - Decided the Council of Ministers , on Tuesday, forming a crisis cell headed by Prime Minister Haider al-Abadi and membership and finance ministers, oil and Planning and the Governor of the Central Bank shall establish the priorities of exchange.

A spokesman for Prime Minister’s Office tributary Jabouri in an interview for “Alsumaria News” “The Council of Ministers decided, during its meeting held on Tuesday, forming a crisis cell headed by the Prime Minister and the membership of the finance ministers and oil and Planning and the Governor of the Central Bank shall establish priorities for exchange.”…

Read More: http://dinarupdates.com/blog/
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BGG - Article quote:  “Council of Ministers , on Tuesday, forming a crisis cell headed by Prime Minister Haider al-Abadi and membership and finance ministers, oil and Planning and the Governor of the Central Bank shall establish the priorities of exchange.“   WOW!!  very few things that can mean…Did they just “telegraph the pass”?  aka – “reveal their intentions”…but as sczin11 said - we need to see more.  [Is it the adjustment to the value of the dinar internationally?]  Looks very suspicious – we will have to wait and see.
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sczin11 - LOOK AT THIS JUST OFF THE PRESS…WHOA!  “Council of Ministers , on Tuesday, forming a crisis cell headed by Prime Minister Haider al-Abadi and membership and finance ministers, oil and Planning and the Governor of the Central Bank shall establish the priorities of exchange.“ HERE IS ANOTHER VERSION…”He Jabouri ‘after the formation of the cell, will emerge on the basis of which the crisis cell in each ministry in order to reduce costs and increase the state treasury resources’, adding that ‘the Council decide to continue the work of the balance of parliamentarians from the Prime Minister.”  RAISING THE VALUE OF THE IRAQI DINAR= REDUCING COSTS (INCREASE PURCHASING POWER) + INCREASES THE STATE TREASURY ( MORE PROFITS).   WE NEED TO SEE MORE…WE CAN ONLY HOPE…
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MarkZ - [just waiting for rv!]  I doubt you have to wait to much longer. The progress is really gaining the steam we needed. Banking is in place. The US has pretty much run out of excuses. Things are good.  [Is it true that we will have to wait a bit anyways to exchange?]   …if they were to announce it this minute it would still take some time to get everyone into the bank, logistically it could take 10-14 days to have things setup. IMO.  [...how are you feeling about an RV this month?]  Stellar.  [The 22nd seems to be some hot date in this. Thoughts?]   very. 
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Dinar Talk INFO Call

w/BGG & Mr White – from Tues 1/20

Click-n-listen

Smart phone user link – Click here

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OOTW - I’M NOT SAYING SHABS IS COMING BACK – BUT I’M SAYING THAT THE LIKELIHOOD OF MALIKI AND JUBOURI’S CLAIMS OF A RETRIAL BEING VALID, ARE INCREDIBLY SLIM.
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tman23 - The State of Law is banging away at Shabibi…But most of the nay sayers were ignorant in the CBI economics and auctions. They accuse Shabibi of harboring corruption but as “HE” said to the GOI… It is not the job of the CBI to chase money launderers and thieves and the CBI has no authority to arrest anyone…Therefore the GOI needs to pass laws and work with the CBI in order to move monetary reform forward.  The UN and World Bank did a full discovery report on the CBI auctions and Shabibi’s charges… The END RESULT… Those who are accusing are ignorant in Banking economics.

Let me put it this way… MONETARY REFORM IS HOT HOT HOT AND ABOUT READY TO BE RELEASED…AND MALIKI ALONG WITH IRAN WOULD LIKE TO STALL THE INEVITABLE AS LONG AS POSSIBLE…AND TO STALL WOULD BE TO START WITH SHABIBI AND A FULL AUDIT OF THE CBI BEFORE MOVING FORWARD…IT’S REALLY JUST THAT SIMPLE.
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sczin11 - …THE BUDGET IS TRULY A NON ISSUE…IT WILL PASS, IT WILL BE VOTED ON…IT WILL BE DONE… THE QUESTION IS WHEN WILL ALI ALAQ BE REMOVED? WHEN WILL THE CBI ANNOUNCE THE DOCTOR [SHABIBI] IS IN THE HOUSE?
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home7

Iraqi Dinar/Dollar auction 1-20-15

Currency Auctions Announcement No. (2869)

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

The results were as follows:

25k-Iraqi-Dinar-200x96DETAILS                                                              NOTES
Number of banks                                                20
Auction price selling dinar / US$                    1166
Amount sold at auction price (US$)               224,696,000
Total offers for buying (US$)                           224,696,000

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

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sczin11 - It is interesting to me, that all of a sudden, Dr. Sinan Al Shabibi, is in the NEWS! He has been acquitted of all charges, he has been released of all appeals against him, strong statements made by Justice Mahmood, and others, stating Dr. Shabibis evidence is stronger than the Prosecution had… And yet now, Articles and releases criticizing the “process..”… others are jailed who worked with him, others going to jail, others being arrested…Hmmmm…Remember, we are seeing news for the most part, after “stuff” happens.  What is REALLY happening…Is the good Doctor in the house? Is he making his way back in? Is there NEWS ready to be released stating such? Again, why are SOME, using his name so often at THIS TIME?
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MyLadies - LOOKS LIKE THE WEDNESDAY READING OF THE BUDGET HAS BEEN KICKED DOWN THE ROAD AGAIN TO ANOTHER DATE TO BE DETERMINED.  
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Poppy3 - …TALKED TO IRAQ CONTACT AND HE SAID ONE THING NEW FOR THE FIRST TIME IN A COUPLE YEARS…KUWAIT STARTED SHIPPING TO AND THROUGH IRAQ.   THIS SHOWS WHAT WE HAVE BEEN SAYING THAT ISIS REPORTS HAVE BEEN BLOWN WAY OUT OF PROPORTION…THIS IS GREAT NEWS FOR THEM AND US.
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sczin11 - THEY ARE TELLING THEIR PEOPLE ABOUT THE VALUE OF ONLINE BUYING AND SELLING, INTERNATIONALLY! USE EBAY, PAYPAL, AMAZON, FACEBOOK, GOOGLE….WOW! HOW CAN THEY USE PAYPAL WITHOUT THE ABILITY FOR THEIR DINARS TO BE EXCHANGED, AND CONVERTED TO THE CURRENCY THEY ARE BUYING FROM? 
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Check out the Dinar Corp 120+Max – it’s EQUITY!!

Commercial Solicitation

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Bluedog - “IN MY OPINION”!  WHAT WE ARE SEEING IS OFF THE CHART…AND THAT OIL IS NOW FLOWING FROM KURDS TO BAGHDAD THROUGH SAUDI ARABIA… THE PIPELINE HAS BEEN “CLOSED” SINCE THE INVASION OF KUWAIT… IF SAUDI ARABIA SAID THAT THE PIPELINE IS IN WORKING CONDITION….. WELL THEN OIL HAS TO HAVE BEEN FLOWING TO TEST… LOWER THE PRICE PER BARREL… THE BETTER THE RATE…IT STANDS TO REASON… BUT…IN COVERING THEIR BUDGET, MEANING (IN IRAQ, THE CBI IS ALONE, AUTONOMOUS) NO ONE CAN DICTATE TO THEM “WHAT” AND WHAT TIMING THEY ARE POISED AT!?  TIMING COULD BE ANYTIME NOW… AGAIN…THIS IS ONLY…IN MY OPINION.
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Frank26 - Iraq has SO MUCH to back up their currency many times over but why don’t they have liquidity?  Because they TOO WAIT for permission to lift the three zeros from their exchange rate…BEFORE they put out any LD’S…Logical logistics.  Have You noticed in the last THREE DAYS THE CBI saying and doing fascinating things with the GOI?
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My Ladies - ABADI…JUBOURI AND EVEN MASSOUD YESTERDAY [WERE] SAYING WE CAN NOT CONTINUE WITH OUT THE BUDGET.  WE READ LAST WEEK THAT THE BUDGET AND THE IMPLEMENTATION OF…BANKING AND INVESTMENT LAWS ARE RUNNING PARALLEL TO EACH OTHER.  ANOTHER THING ON HOLD IS NEW LAWS BEING PASSED…MANY LAWS HAVE GONE FOR A READING OR 2 BUT NOT ANY FURTHER.  WHY… ALL THE BANKING LAWS AND INVESTMENT LAWS AND HCL AND ON AND ON, THEY ALL NEED FUNDS TO MAKE THEM WORK. …WE WILL CONTINUE TO SEE THE BUDGET BEING KICKED DOWN THE ROAD UNTIL THEY CAN BRING IT TO THE INTERNATIONAL STAGE AT WHATEVER RATE THEY CHOOSE. 

HOW LONG WILL ALL THIS TAKE TO FINISH .  …IT IS FINISHED ALL OF IT.  NOW THEY SIMPLY WAIT FOR THE GREEN LIGHT TO TURN IT ALL ON. THEY ARE AT THE MERCY OF THE AUTHORS AND IT IS JUST THAT SIMPLE. THEY ARE NOT IN THE DRIVERS SEAT AT THIS TIME.  IRAQ IS DONE AND PATIENTLY WAITING FOR THE TIMING TO BE RIGHT FOR THE DINAR TO BE USEFUL TO THE GLOBE. WE ARE IN THE HOME STRETCH NOW…
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Hakim calls to speed up the adoption of the budget

BAGHDAD / Obelisk: The head of the Islamic Supreme Council Ammar al-Hakim, on Monday, to speed up the adoption of the budget because it is of interest to the interests of citizens, while stressing the need to put the correct processors economic reality after the decline in oil prices…

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

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Millionday - THE BUDGET WILL NOT BE IN THE FORMAL MEETING FOR TUESDAY BUT WILL BE FOR WED (FORMALLY).   – THE POSTPONEMENT IS SO THEY WILL BE VOTING AND HAVE REACHED AGREEMENT BEFORE THEY MEET FORMALLY.   WE LIKE THAT (NO SURPRISES).   THE AGENDA TO DO WITH THE WED PARLIAMENT MEETING IS FOR THE VOTE ON THE BUDGET…THIS DOES NOT MEAN NO MEETING ON TUESDAY AS WE HAVE BEEN TOLD OF MANY OTHER VERY IMPORTANT LAWS THAT WILL BE FINALIZED AS WELL – THIS IS JUST MORE REASSURANCE FOR BUDGET VOTE SUCCESS.
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Kaperoni - Article: ”Decision of the Parliament: political agreement on the adoption of the budget next Wednesday“   Let’s hope so.  Wed it is!
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tman23 - For a FACT…Shabibi before being sent to pasture stated at 64 billion in reserves they could cover the currency 3.5 times…The reserves are speculated to be well over 74 billion at this time…
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Dinar Updates ‏@DinarUpdates

MLK made iconic statements so often because he was intimately familiar with his faith – a level most never glimpse..

Read More: http://dinarupdates.com/blog/
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Enorrste - Article:  “Conscious Central Bank: reserve the largest rates of good reserves of foreign currency“   In the case of Iraq, they now have, according to this article, 150% coverage in reserves to back their currency.  This means that they have $60 billion in dollars, euros, and gold sitting in the central bank.  That is 150% of the money supply of about 40 trillion dinars, worth $40 billion, give or take.  Therefore, having 100% backing their currency, or more, in this case, does not reduce the money in circulation.   …it is and has been our position that the float will start at 1166 to 1 and rise from there.  There is no evidence that an initial start rate will be higher than that in terms of value.  The CBI would be foolish, quite frankly, to try to impose an artificial higher rate.

The plan is to reduce the money supply gradually as the value rises, so that by the time the dinar gets to $1 the total money supply will be 40 billion dinars, worth the same $40 billion that it is now.  There will just be less money in the system and, by then, all of the large three zero notes will have been sucked into banks, then to the CBI, where they will be destroyed (effectively lowering the money supply in terms of dinars, not in terms of overall value).   I would add this additional note:  as the value of the dinar rises and the money supply falls, the total value of the money supply remains relatively constant (as I just noted).  This means that at a dinar worth $1 the Iraqi currency would STILL be the strongest in the world, since it would still be backed 150% by the reserves ($60 billion in reserves to back 40 billion in dinars, the new lower money supply, but still worth $40 billion).
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OOTW - Article:  “Iraqi leaders and the support of a reference work on the dismissal of al-Maliki from office“  [What constitutional basis is there for his removal post election?]  WITHDRAWAL OF CONFIDENCE, SAME AS ANY OTHER MAIN GOVT POSITION.  2/3 MAJORITY VOTE NEEDED TO REMOVE HIM/AND OR HIS IMMUNITY…REMEMBER, WE NO LONGER NEED A 2/3 MAJORITY OF ALL WHO WERE ELECTED..ONLY 2/3 OF THOSE WHO SHOW TO SESSIONS..JUBOURI CHANGED THAT LEGISLATION.
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Kaperoni - Article: ”Conscious Central Bank: reserve the largest rates of good reserves of foreign currency“   40 trillion dinar or so in circulation is about 38 billion dollars.  The amount in reserves is 1.5 times that amount (about 65-70 billion).  Considering how other central banks use a fractional amount I think of 10:1, the dinar value could be significantly higher.
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Parliamentary Integrity announces the issuance of judicial rulings against 16 banks soon

Long-Presse / Baghdad Announced the Integrity Committee in the Iraqi Council of Representatives, on Sunday, all near the issuance of judicial rulings against 16 banks waged on charges of forgery in the case of the Central Bank, confirmed the resolution of more than 3,000 private administrative and financial corruption issue, while suggesting to discuss how to develop specific criteria for tenders in the Municipality Baghdad.

Committee Chairman Talal Zobaie during a press conference at the parliament building and attended the (long-Presse), “it was the resolution of 3007 issue of the total 3526 competent issue of corruption in the presidency to resume Baghdad court Rusafa,” adding, “it was the acquittal of former Central Bank Governor Sinan al-Shabibi in the case The central bank was sentenced to a section of the staff. “…

Read More: http://dinarupdates.com/blog/
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Poppy3 - WE CAN BE ASSURED IF THEY BEEN APPROVED BY BOTH THE IMF AND WORLD BANK THEY HAVE THE RESERVES AND PROJECTED PROFITS TO BE APPROVED.  THEY KNOW THE MARKET VALUE AT THIS POINT AND IT HAS TO BE VERY SUBSTANTIAL TO BE QUALIFIED FOR BILLIONS IN LOANS.  PLUS REMEMBER THEY JUST BOUGHT GOLD TO FURTHER SECURE SUPPORT FOR THEIR CURRENCY.  ALSO REMEMBER WHEN THE RATE WAS $3.22 BEFORE THE PRICE OF OIL WAS $31.00 A BARREL.
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tlm724 - The Central Bank of Iraq, Sunday, that the bank reserves is one of the best reserves in the world, and while he noted covers currency and a half times…”,  ”the Bank maintains the largest rates of good reserves of hard currency in the world compared to the money supply,“  thats Ali Alak governor of the CBI telling all of the media that they can cover all the hard currency one and a half times! Iraq has it covered at 150%.   The Iraqi Central Bank announced in October 2013 for the arrival of the size of its reserves of hard currency to 76 billion and $ 500 million, noting that “it is the highest rate of the Bank of the currency in the history of Iraq“.  *hallelujah* they can support a nice healthy rate. 
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Millionday - IT WOULD VERY MUCH BE IN THEIR BEST INTEREST TO REVALUE THEIR CURRENCY RIGHT NOW AND ENTER THE GLOBAL MARKET DUE TO THE DIVERSITY THAT THEY CAN TAKE ADVANTAGE OF AND THE MANY JOBS IT WOULD BRING ETC ETC — CBI IS INDEPENDENT BUT ALSO THE COUNTRY HAS TO BE INTERNATIONALLY COMPLIANT ECONOMICALLY AND WITH THEIR REGULATIONS FOR THE WORK OF CBI TO BE A SUCCESS AND ALSO THE LAWS HAVE TO BE IN PLACE IN ORDER FOR IRAQ TO TAKE ADVANTAGE OF THE REFORMS THEY HAVE PLANNED FOR THEM AND THE WORK THEY HAVE DONE.
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home7

Iraqi Dinar/Dollar auction 1-19-15

Currency Auctions Announcement No. (2868)

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

The results were as follows:

25k-Iraqi-Dinar-200x96DETAILS                                                              NOTES
Number of banks                                                17
Auction price selling dinar / US$                    1166
Amount sold at auction price (US$)               166,606,000
Total offers for buying (US$)                           166,606,000

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

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Chattels - the budget is all but done…?   it may be the 20th something of this month, but it seems to be more of a formality.
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Poppy3 - I WOULD NOT CASH ANY AT .10  …NOT A ISSUE ANYWAY THATS NOT AND WOULD NOT MEET ANY OF THEIR NEEDS AND THEY ARE TOO BOISTEROUS NOT TO WANT TO BRAG THEY HAVE THE MOST VALUABLE CURRENCY.
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sczin11 - [if Iraq wants to redeem as much dinar at the lowest price then why offer initially more than let's say .10?]   JMHO, IRAQ MUST, NEEDS, AND WANTS TO DEDOLLARIZE…THEY MUST COME OUT EQUAL OR GREATER THAN THE US DOLLAR.
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OOTW - …MANY ISSUES WITH THIS BUDGET SEEM TO BE IN A CATCH 22 MODE…THE IMF SAYS THEY WON’T LOAN THEM A DOLLAR UNTIL THEY PASS THE BUDGET, BUT THEN, HOW CAN THEY ALLOCATE – PROPER ACCOUNTING – WITHIN THE BUDGET UNTIL THEY KNOW/IF THAT’S GOING TO HAPPEN?
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Follow us on twitter @DinarUpdates !!

Iraqi leaders…work on the dismissal of al-Maliki from office!!

http://www.dinarupdates.com/showthread.php?14995-The-Dinar-Daily-Saturday-January-17-2015&p=92906&viewfull=1#post92906 …

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

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szcin11 - I HAVE BEEN COMMENTING IN RECENT WEEKS ABOUT THE VESTED INTEREST, THE WORLD HAS IN IRAQ, AND WHY ALL THE ESTRANGED COUNTRIES ARE RACING IN NOW, LIKE GREYHOUNDS CHASING THE RABBIT! YOU WANT TO KNOW WHY? LOOK!  US NEWSPAPER, IRAQ WILL BECOME THE BIGGEST OIL POWER IN THE WORLD!  Article quote  “Told The Washington Times reported that an increase in oil production in Iraq may determine the future of global oil prices in the coming years… it also indicated a Washington Times that Iraq is close to the number one position as the largest oil exporter in the world.”
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Millionday - IRAQ HAS A DELEGATION COMING TO WASHINGTON ON THE 18TH ACCORDING TO NEWS REPORTS AND ALSO SWITZERLAND HAS MADE SOME CHANGES WITH THEIR CURRENCY REPORTING THAT SOME CHANGES ARE EXPECTED IN CURRENCY NEXT WEEK…  [is the swiss have in any bearing on this?]  THEY HAVE ALWAYS BEEN KNOWN AS A WELL KNOWN INTERNATIONAL BANKING COUNTRY FOR INVESTORS – THE STATEMENT THEY RELEASED WAS THAT SOMETHING BIG IS HAPPENING WITH CURRENCY NEXT WEEK AND DID NOT GO INTO ANY FURTHER.
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Frank26 - If The FRANC JUST did this then what currency in Your opinion do You believe will be THE NEXT ONE to do The Same?  This is a START of many M R ‘s. (Monetary Reforms).  IMO, Many things…Stages…Mechanisms…Banks…etc. in many countries are primed and set for some economic and currency changes.  Iraq’s economy is failing and how did DR S [Shabibi]  say was THEIR SOLUTION to this disaster?  By CHANGING their MONETARY POLICY.
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Check out the Dinar Corp 120+Max – it’s EQUITY!!

Commercial Solicitation

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Aggiedad77 - TOMORROW WILL SEE AN “INTERNAL CONTROL CONFERENCE” SPONSORED BY PM ABADI…BUT MORE IMPORTANTLY IN MY MIND…THE CBI GOVERNOR WILL BE IN ATTENDANCE AT THIS MEETING...NEVER HAVE HEARD OF SUCH A MEETING…THIS COULD PROVE TO BE MOST INTERESTING.
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Millionday - THE REVALUE OR CHANGE IN PURCHASING POWER /REDENOMINATION/AND INTERNATIONAL RATE CHANGES WILL BE ON THE MARKET/BANK/CBI/MONEY EXCHANGE BUSINESSES/ AND EVEN YOUR SMART PHONE WHEN THIS CHANGES AND THEY ARE INTERNATIONALLY RECOGNIZED AND THEIR CURRENCY IS PUT ON THE CURRENCY MARKET FOR SALE (AS IN FOREX ETC).
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Shredd - Article quote:  “To the Director General of the Economic Department at the Ministry of Finance, Mr. Khaled Salah al-Din appeared optimistic when pointed out that Iraq could get out of this crisis, if it has been invested about true…Indicating that address this problem can be through the issuance of bonds…“  When you see in the dinar world all the talk about “bringing investment into Iraq” and how important it is, this article is speaking of this.  The issuance of bonds is lending.  Lending to municipalities for infrastructure…Lending to corporations for expansion. 

Bonds by nature are low risk for the most part since they have fixed rates. BUT, bonds can be horrible investments if the market is or could be fluctuating substantially. What does this tell us? Well it tells us that there is confidence in the investment and repayment of these bonds.  …this “investment coming to Iraq” via bonds shows us confidence in the Stability of the market. This is a delicate balance.  This also shows us plans for infrastructure growth and investment interest. I’m not going to invest in a municipal bond if I’m afraid the city is going to be bombed, right?!
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Tlar - EVERYTHING IN IRAQ WILL BE AFFECTED BY THIS RATE CHANGE INCLUDING THE CASH, WHICH MEANS AS THE VALUE OF THE CASH INCREASES 1000 TIMES EVERYTHING else (whether in Iraq or not in Iraq) WILL BE DECREASED 1000 TIMES.  Following this logic, IMO the only people to benefit by this will be the people holding any cash just as you and I are. This is a hard argument for some to understand because guys like XXXX early on had his followers set up accounts in Iraq with dinars.   It is my belief they will not benefit from the change in value if their dinars are sitting in an account at a bank.  They won’t loose money as value will remain constant before and after.

The CBI has given us a heads up on the change in the currency value when they suggested to banks to take their time when addressing the population as they come into the bank to change out the big notes left in circulation.  The CBI told the banks to set up checking and savings accounts and give them walk around money.  This tells us that the currency should have significantly higher value.  What they have not dealt with in articles is bank accounts and IMO for good reason.  It would kill the system if the people thought there was a difference in the way an electronic dinar would be handled.  They would run the banks at the first inkling that the RV was imminent as they did in January 2014 converting all dinars to cash.  Logically IMO this has to be the only way for this to work.
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home7

Iraqi Dinar/Dollar auction 1-18-15

Currency Auctions Announcement No. (2867)

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

The results were as follows:

25k-Iraqi-Dinar-200x96DETAILS                                                              NOTES
Number of banks                                                16
Auction price selling dinar / US$                    1166
Amount sold at auction price (US$)               185,944,000
Total offers for buying (US$)                           185,944,000

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

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Millionday - Article quote:  “Parliamentary Finance Committee revealed, on Friday, for borrowing money from the World Bank and cash to address the shortfall in the draft federal budget law of the country for the current year“  THIS GOES ALONG WITH WHERE WE ARE AND ALSO THE STEPS THAT CBI STATED THEY WOULD BE TAKING TO MOVE FORWARD WITH THEIR PART OF REFORMS AND ALSO ONE OF THE HUGE STEPS THAT TAKES PLACE FOR DEVELOPMENT AS HISTORY HAS SHOWN AND ALSO A WAY TO MINIMIZE THE DEFICIT.  THE LOANS FROM THE WORLD BANK AND THE IMF — TRUST ME THIS IS A HUGE FIND AND A GREAT ANNOUNCEMENT. THEY NEEDED THAT LAST STEP IMO — GREAT NEWS AND WAS EXPECTED.   I AM OFFICIALLY EXCITED.
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sczin11 - [what do you see this weekend happening?]  I CAN NOT PREDICT WHAT MEDIA RELEASES WILL SHOW, BUT, IT IS VERY EVIDENT THAT THE CASE AGAINST THE MALIKI CREW, INCLUDING , BUT NOT LIMITED TO, THE CBI, IS IN THE PAST TENSE! LEADS ME TO BELIEVE CHANGE IS IMMINENT.  IF EVERYONE WOULD TRY AND FORGET ABOUT SPECIFIC DATES, AND WATCH THE PLAN UNFOLD, YOU WOULD BE VERY SURPRISED, AND EXCITED AND BE ABLE TO ENJOY THIS HISTORIC EVENT, A LITTLE MORE…AND AS WE SEE, WITHOUT LOOKING AT DATES, ACTIONS DO SPEAK LOUDER THAN WORDS!
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Adam Montana - …who is in charge of the exchange rate: The CBI. That’s it. … the bottom line is simple. ONE organization is responsible for the exchange rate, and that organization is the CBI. Plain and simple.
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Follow us on twitter @DinarUpdates !!

Kurdish leaders say they know who pushed ISIS to attack Kurdistan

http://www.dinarupdates.com/showthread.php?14991-The-Dinar-Daily-Friday-January-16-2015&p=92669&viewfull=1#post92669 …

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

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Millionday - THE BEAUTY OF IRAQ AND HOW THEY ACTUALLY DO THEIR LAW SYSTEM AS FAR PUTTING IT TO LAW — IS THAT THE FINAL STEP IS TO PRINT IT IN THE GAZETTE (IRAQI LAW BOOK FORMAL) SO YES THE LAWS ARE DONE BUT IN ORDER TO MAKE THEM ACTIVE THE MASSIVE PRINT I PREDICT–WILL MAKE THEM ALL AT THE SAME TIME BE EFFECTIVE AT THE RIGHT TIME AS THE REFORMS ARE ALL DONE AND RELIANT ON EACH OTHER — THIS MAKES GREAT LOGICAL SENSE — THE LAWS THAT ARE BEING DONE ON TUESDAY WITH THE BUDGET HAVE BEEN REPORTED TO BE THE FEDERAL SUPREME COURT AND AMNESTY AND PARTY LAW — THEY HAVE 200+ THAT ARE ALL DONE AND NEED TO BE PRINTED TO BE ACTIVE SO THAT ONE DOES NOT MAKE ANOTHER UNLAWFUL OR UNCONSTITUTIONAL

I REALLY SEE THIS AS A GENIUS PLAN AND THAT IS WHAT WE HAVE BEEN WATCHING UNFOLD — THE AGREEMENTS WITH THE ERBIL AGREEMENT AND ALSO TO HAVE A UNIFIED GOVERNMENT WAS A HUGE STEP AND THEY HAVE NOT REVALUED YET BECAUSE AS CBI STATED IT MUST NOT BE THE RIGHT TIME — THEY WILL NOT ANNOUNCE IT BEFORE BUT TO SEE SO MUCH DONE THAT WE HAVE WATCHED HAPPEN — IT IS OBVIOUSLY VERY CLOSE TO A PERFECT TIME FOR THEM IMO — AND YES THEY NEED IT VERY BAD FOR THE CALL OF INVESTMENT.
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BGG - …had a conversation with a good friend/great investor this evening and his (I agree) current synopsis is this thing is moving along nicely and we almost can’t hope for more…in 126 days Abadi has done some GREAT THINGS.
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Jester - THERE IS A LOT OF BS GOING AROUND ABOUT THE SWISS REMOVING THE CAP TO THE EURO PEG…IT DOES NOT HAVE ANYTHING TO DO WITH ANYTHING BUT THE SWISS TAKING CARE OF THEIR CURRENCY. 
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The Exchange Rate of Foreign Currency in Economic Feasibility Studies 

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

Estimate the shadow price of foreign currency:…

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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Mnt Goat - …we end the week with a new window of opportunity for a possible RV.  We now …know for a fact the ISX is tied to having the RV in place so this is no longer a rumor. I am now hearing there is going to be yet another attempt on Jan 20th for  ISX rollout. That is next Tuesday.  I am also hearing that Iraq and the USA agreed to let the RV proceed this coming week.  This is now why I am saying another window of opportunity has opened up for an RV.  So the window is from today Friday Jan 16th thru Jan 20th. The timing is now perfect! 
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Stryker - What we are waiting on is a much bigger and different event then what the Swiss franc just went thru and with that, things must be just right for it to take place…but the franc has nothing to do with the dinar or it’s timing…if we are going to see the revaluation of the Iraqi dinar this month, the rate will be disclosed after the budget is implemented.  But remember; security, stability both economically and politically must be just right before the Central Bank of Iraq will pull the trigger and if so it can take place.
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sczin11 - THE BANKING CORRUPTION HAS BEEN TALKED ABOUT FOR A WHILE, (FEW MONTHS) NOW…THE REPORT A FEW MONTHS AGO, 29 OF 33 STATE BANKS WERE SUSPECTED OF INTERNAL CORRUPTION… NOW THE CBI IS BEING ACCUSED OF CORRUPTION…THIS IS ALL OUT IN THE NEWS, SO THE WORLD KNOWS IT, AND OF COURSE ALL THE POTENTIAL INVESTORS, COUNTRIES AND CORPORATIONS, KNOW THIS…THAT BEING SAID, THEY ARE STILL FLOCKING IN…WHY? THIS ALL HAS TO BE DONE…IT MUST COME TO A WORLDWIDE ANNOUNCEMENT/CONCLUSION ANY MINUTE! HOW LONG CAN THE PEOPLE OF IRAQ BE KEPT IN THE DARK..WITH CARROTS DANGLING IN FRONT OF THEM.
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Parliamentary Finance reveal borrow money from the bank and the International Monetary bridge the budget deficit

Information / Baghdad / .. Parliamentary Finance Committee revealed, on Friday, for borrowing money from the World Bank and cash to address the shortfall in the draft federal budget law of the country for the current year.

Said committee member Najiba Najib told / information /, “The 2015 budget passed in the House of Representatives is the message of reassurance to the Iraqi people…

Read More: http://dinarupdates.com/blog/
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Adam Montana - [With the recent drop in oil prices, what is the market rate looking like for an RV?]   I don’t generally do “rate” responses, but I’ll shoot one out here – “off the cuff”, I’m looking for .50 or less right now.  I know I’m going to get some flack for that, but I’m not backing down.
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Aggiedad77 - One Iraqi oil expert is saying that Iraq is living in a third world war…a war on oil…there is growing concern with the budget numbers that what is currently projected…I believe $60 oil…may not be adequate to cover where oil looks to be headed…$40 a barrel…but from what we are hearing oil is expected to rebound starting in the coming days…perhaps the Iraqi Oil Ministers realize this and have faith in where they currently stand today…at least one member of the Finance Committee believes there still could be further adjustments in the budget price of oil or the deficit will look bigger than originally anticipated…Iraq will not fail…will not be allowed to fail…In My Opinion. 

I have said since the beginning of 2009 that Iraq has no idea of how much wealth they really sit upon…and today in 2015 they still don’t…too much is largely uncharted resources…they are still playing catchup with technologies associated with oil and gas activities…they have too vast an area that is wild and yet uncontained that needs to be explored…and still the world oil powers know there is a sea of oil here…they will soon be the king of oil…count on that…the other kings of oil have been pulling from their proven reserves for too many years….Iraq has reserves that haven’t been tested yet…their time is coming.
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Kaperoni - The potential for a substantial return some day does exist…if nothing else the IMF themselves state it so referencing the gradual appreciation and the Balassa-Samuelson effect in the Article IV Consultation.
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Government prevents 60 military commander from traveling outside Iraq because of financial and administrative corruption cases

Government prevents 60 military commander from traveling outside Iraq because of financial and administrative corruption cases

BAGHDAD – ((eighth day)) Iraqi political and security sources revealed that the issuance of the government in the late hours of the night on Wednesday, a decree banning 60 different military figure and administrative Iraqi from traveling outside the country, under any circumstances, and the sincerity of a judicial decision memorandum.

A senior source in the Iraqi government that “the prime minister as head of government and commander in chief of the armed forces, issued a decree banning 60 people from traveling outside the country, and circulated the names on land ports, and airports, including the Kurdistan region.”

…Pointing out that “all the names in the the list of the pillars of the government of Nouri al-Maliki and his aides and those close to him, was followed by a move to freeze their movable and immovable property. ”…

Read More: http://dinarupdates.com/blog/
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Kaperoni - The budget means nothing to us.  The only benefit to us is the sooner they pass it, the sooner they can move on to more important issues like laws.
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EXOGEN - YOU ARE NOW WATCHING THE GLOBAL CURRENCY RESET RIGHT NOW LIVE IN REAL TIME!  OVERNIGHT CHANGE JUST TOOK PLACE OUT OF NOWHERE!  THE SWISS MOVE JUST SHOOK UP THE PLANET.  YOU ARE NOW WATCHING THE GLOBAL FORCING OF ASSET BACKED CURRENCIES AND THIS ALL MYSTERIOUSLY HAPPENED OVERNIGHT…GET READY…WE ARE NOW IN THE MIDDLE OF THE GLOBAL CURRENCY RESET.
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sczin11 - THERE IS SOMETHING VERY INTERESTING GOING ON WITH ISX, AND SOME OF THE FINANCIAL COMPANIES ON IT…TRADE BANK OF IRAQ, IS THE KEY TO MY THINKING HERE…THEIR TRADING WAS HALTED, FOR THE HOLIDAY AND I BELIEVE A LITTLE BEFORE THAT…AND THEY WILL RESUME ON JANUARY 18, THEY HAVENT STARTED TRADING YET SINCE ISX HAS OPENED, AND CORRUPTION ARTICLES OUT TODAY, WHICH MEANS OBVIOUSLY…I FEEL, IT IS PAST NEWS… NOW THEY CAN BEGIN TRADING AGAIN…AND THEY ARE IMHO, THE MOST CRUCIAL FINANCIAL INSTITUTION, TO THE IRAQI COUNTRY, PEOPLE, AND CBI.
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Check out the Dinar Corp 120+Max – it’s EQUITY!!

Commercial Solicitation

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Chattels - despite the budget intrigue, it is likely to come and go as so many others without any change in the value of the IQD, we shall see.
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Aggiedad77 - …we need to watch and wait…let things out of our control take their course…as they will…history in the making.  I firmly believe that better is on the way….and that many in the world will be genuinely surprised at how it arrives.  I remain confident and excited for all that we see happening.
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Frank26 - Iraq is like the Moon…Filled with stockpiles of riches.  But due to the fact that The Moon is so far away they are useless to anyone.  JFK gave us 9 years to land on The Moon…We did.  It has taken us longer to land on Article 8.  Iraq’s Riches are useless at 1166 …And They Know This!   The ONLY reason Iraq would qualify for article 8 is BECAUSE they RAISED their dinar value. IMO, This permission is/has been qualified by A [Abadi] and S [Shabibi]…GOI/CBI…Hence we wait for the POWERS to grant this action via The IMF.  We are ALL in a waiting Pattern.  IMO,  The Strength in our investment’s gain to us lies in the Duration and Sustainability of our  Patience’s. I sincerely believe we have Landed at this time in History with Iraq and her MR.
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Millionday - Article quote:  “Mazrui said the oil market “will take time to settle down.“   THEY…SAID SOMETHING EXCITING.  THEY ARE WONDERING HOW LONG WILL IT TAKE TO SETTLE DOWN DUE TO THE ENTRY OF THE LOW PRICES OF OIL AND THE BUDGET AS WELL — WHICH WOULD SEEM AS THOUGH THEY ARE REFERRING TO SOME TYPE OF CHANGE…
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Follow us on twitter @DinarUpdates !!

Prime Minister Al-Abadi meets with Speaker Jubouri to discuss the federal budget and humanitarian aid to IDPs.

Embedded image permalink

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sczin11 - MUCH IS GOING ON, AS SEEN BY THE NEWS RELEASES…MOST OF THE NEWS IS “AFTER THE FACT”, AND THUS WE CAN SURMISE THE PROCESS IS MOVING FULL STEAM AHEAD… THE BROTHERLY BORDER COUNTRIES ARE ALL BEING LINED UP…THE CLEANING UP OF THE CBI, AND ALL RELATED PARTIES IS DEFINITELY UNDER WAY…DR. SHABIBI, IS FREE, CLEAR, AND AVAILABLE FOR THE CALL TO DUTY! THE ISX, WELL STRANGE THINGS OCCURRING THAT I CAN SEE… A FEW VERY IMPORTANT FINANCIAL COMPANIES WILL RESUME TRADING ON SUNDAY JANUARY 18, 2015...TRADING HAD BEEN HALTED FOR A WHILE ON A FEW… ONE IS THE TBI- TRADE BANK OF IRAQ!.. THE 3 VERY IMPORTANT LAWS, FEDERAL COURT, PARTIES, AND RECONCILIATION BEING TALKED ABOUT A LOT- PROVINCES LAW APPEAL REVOKED, AND BEING WORKED ON..INVESTMENT LAW BEING TALKED ABOUT AND WORKED ON.

NOT ONLY IS IMF AND WORLD BANK INVOLVED IN LOANS AND AID, BUT OTHER COUNTRIES ARE GETTING INVOLVED TO HELP IN THE IMMEDIATE LIQUIDITY ISSUES IRAQ FACES…THE USA IS SENDING MORE TROOPS, AND OTHER COUNTRIES JOINING THE COALITION TO FIGHT AGAINST TERRORISTS… HUMANITARIAN AID COMING FROM ALL OVER…ABADIS GOVT RACING TO MEET DEADLINES FROM THEIR CONSTITUTION….WHY IS ALL THIS GOING ON? THERE IS A VESTED INTEREST IN IRAQ BY THE ENTIRE GLOBE…THE OPEN MARKET GLOBAL ECONOMY IS UPON THEM…AND THE WORLD CANT WAIT TO TAKE PART…BE STRONG, BE POSITIVE, AND WATCH THE PLAN PLAY OUT!
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Chattels - [say we get a budget next week and a vote and no RV...what is it that we dont know that can continue to delay?]  we do know that Iraq is arguably suffering from the ” double shock ” of low oil prices and the continued disruption of Daesh, and the passage of a budget does not ” cure ” those issues and we have a hydrocarbon agreement, but not a law.
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Adam Montana - [if they pass the budget and it has a rate in it does the CBI have to use that rate or can they make it high or lower than what is in the budget?]   I like how you are thinking – you are giving the CBI it’s due credit. The CBI can do whatever it wants. End of story.
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Check out the Dinar Corp 120+Max – it’s EQUITY!!

Commercial Solicitation

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tman23 - Interesting 64 billion number as the minimum for the CBI reserves…back in 2012 Shabibi said the reserves at the CBI were 64 billion and the CBI could cover the IQD 3 1/2 times.
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Adam Montana - [Do you think there will be RV this year 2015 first quarter? The reason I ask is because of the budget and HCL and we seen many articles that they would pass the budget and HCL but keep coming up with excuses not to pass the budget because of low oil prices. It just seems like every year same old same excuses. I’ve been watching this for years and I am with you! But yes - I think this is the best possible time we have ever EVER seen! 
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Poppy3 - ???happened again???  will it mean something this time? ALL BANKS AROUND MID TN HAS STOPPED SELLING VN DONG, THIS HAS HAPPENED BEFORE A COUPLE YEARS AGO AND THIS TIME SEEMS ALL HAVE TOTALLY STOPPED AGAIN EVEN IF YOU TELL THEM YOUR TRAVELING THERE FOR A VACATION THEY TOLD A FRIEND THEY COULDN’T AT THIS TIME GET HIM MORE DONG.  IT WAS REPORTED IN THE WSJ [WALL STREET JOURNAL?] THIS PAST SUMMER THAT VN HAS THE 5TH FASTEST GROWING ECONOMY IN THE WORLD  …MANY HAVE REPORTED HUGE RATES AS POSSIBILITY ON THE DONG.  I HAVE ALWAYS THOUGHT AND REPORTED MY SOURCES HAVE SAID FROM 3 CENTS TO AS HIGH AS A NICKLE AND I STILL STAND BY THOSE RATE POSSIBILITIES. THAT IS STILL A GREAT RETURN ON INVESTMENT. 
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tman23 - 8 day countdown is to the 20ththe passing of the Budget is law for the Kurds to receive 17%…Up until right now they only have a written agreement that is basically a handshakeThe Budget to law makes that agreement binding…Then expect to see the changes follow.
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Kurdistan Alliance: Maliki “thief” and should be tried as soon as possible

BAGHDAD – ((eighth day)) Kurdistan Alliance, “demanded Wednesday:The government need to provide former Prime Minister Nuri al-Maliki to justice and held accountable for all the issues that have taken place…

Read More: http://dinarupdates.com/blog/
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Millionday - [IM STILL NOT SURE IF BUDGET CAN TRIGGER THE CURRENCY REFORM DIRECTLY.]  CBI STATED YESTERDAY THEY WERE ABLE TO TRIGGER THE ECONOMIC REFORM AND MONETARY POLICY WITH THE INVESTMENT MONEY FROM OTHER COUNTRY INVESTMENTS – SO NO WORRIES.  EITHER WAY – THE TIMELINE IS VERY CLOSE WITH WHICH EVER WAY YOU TAKE IT ON THE BUDGET — THEY ARE VERY CLOSE VERY.
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Adam Montana - I never invest on emotion… I only invest on logic.  So looking back at my last week’s update, I realize I used the word “soon”, and to be completely blunt here… I’m surprised that it didn’t happen yet, but since I used the word “soon” I feel like an explanation is owed…Here it is:  The Iraqi Dinar is undervalued. The CBI can and should raise the value, they CAN support a higher value, and at some point we are going to see a profit on it.  It’s THAT SIMPLE.  We are on the cusp of something big. It’s looming over us. We are in the shadow of a giant tidal wave that’s about to crash onto the beach and take everyone but us by surprise. There’s no way around it!  Abadi has made so much positive impact, the political atmosphere in Iraq has never seen this much harmony, and we are all just here waiting to reap some rewards.
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Poppy3 - …A PANEL FORMED FROM ALL REGIONS REPRESENTED THAT WERE TO STUDY THE BUDGET AND AGREE ON CHANGES. THEN WHEN THEY ALL CAME INTO AGREEMENT THEY WOULD TAKE IT TO THE FULL PARLIAMENT TO VOTE IT INTO LAW. SO IT HAS PASSED THE PANEL NOW JUST NEEDS THE VOTE TO MAKE IT OFFICIAL AND POST IT IN GAZETTE. SOUNDS LIKE GREAT PROGRESS TO ME.  NEWS ON ALL FRONTS ON DINAR RATE SHOWING IS LOOKING MORE PROMISING THAN EVER. ITS HAPPENING RIGHT BEFORE OUR EYES. 
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Delta - Budget – how it works based on their constitution. The budget gets passed by the GOI (Council of Ministers – they vote for it). It then goes to the parliament. Parliament usually reads it 2 times (not 3) and then they have open-discussion to see if any further ideas need to be implemented. After that, they put the budget up for voting. After the parliament votes for the budget it goes right-away to the President. When the President receives the budget (according to the constitution) he has about 15 days to sign it or not to sign it. If he doesn’t sign it, we start from square-one again…but that is not going to happen that way. The President does NOT have to wait the whole 15 days to sign the budget. He can sign it right away. After the President signs it, it goes to the Gazette (which is the official newspaper of the Iraqi government. From the Gazette it takes about 2-3 days which then becomes law. 
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home7

Iraqi Dinar/Dollar auction 1-15-15

Currency Auctions Announcement No. (2866)

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

The results were as follows:

25k-Iraqi-Dinar-200x96DETAILS                                                              NOTES
Number of banks                                                21
Auction price selling dinar / US$                    1166
Amount sold at auction price (US$)               242,258,000
Total offers for buying (US$)                           242,258,000

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

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Chattels - Article quote:  “Baghdad/Al baghdadia news and. .. The parliamentary Finance Committee, confirmed Wednesday that they are continuing in meetings and meetings for the submission of the final report of the federal budget, are approaching it from a financial planning for the budget.“ THERE IS NO THIRD READING THAT I AM AWARE OF.  THERE IS A FINAL DRAFT BEING COMPLETED BY THE FINANCE COMMITTEE AND THEN THE VOTE.  [SO THEY CAN JUST DO THE VOTE SATURDAY? THE EARLIEST THAT A VOTE COULD BE HAD IS SATURDAY WITH THE FOUR DAY WAITING PERIOD, BUT THE REPORTS ARE THAT PARLIAMENT DOES NOT MEET AGAIN UNTIL TUESDAY, THE 20TH.
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Millionday - Article quote:  “House of Representatives member Furat al-Tamimi on Wednesday passed the general budget of the country in record time to the presence of harmony between the blocks, noting that there were some differences in views on some of the paragraphs but it can be remedied“  SO THAT IS GREAT NEWS.  [how can they have passed the budget without the vote? THEY HAVEN'T, THEY HAVE AN AGREEMENT ON WHATS IN IT.]   THEY ARE SAYING THAT THEY ARE GOING TO PASS IT AND MANY LAWS AS WELL IN RECORD OR ON TIME…THE VOTE IS BETWEEN TODAY AND TUESDAY.
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Enorrste - The float must preceed the removal of the large notes, because in order to remove the large notes the value of the dinar must be higher.  It will take 2 to 4 years for the value to get high enough to remove all of the large notes Since the smallest large note is 1000 dinars, then, in theory, the value would have to be at least $.20 per dinar for them to remove that note, the others having been removed prior to that time.  At $.20 per dinar the 1000 dinar note would be worth $200, so they would get them all off the street at that rate.  However…it is my opinion that within 2 to 4 years the value may be as high at $3.50, or more The float can start at any time.
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Supreme Council: Medhat al-Mahmoud flatters the owners

BAGHDAD – ((eighth day))

Accused of the Legal Committee of the House of Representatives member Salim Shawki, on Monday, Head of the Judiciary Medhat al-Mahmoud as “flattery” to the government of former Prime Minister Nuri al-Maliki in order to stay in office.

Shawki He explained, “We’re conducting reforms in the judiciary and Senbdoha of the Federal Court.”…

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

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Millionday - THEY HAVE MADE MANY PUBLIC AND MEDIA STATEMENTS THAT THEY ARE HUSTLING TO MINIMIZE THE DEFICIT –  BUT HERE IS THE STATEMENT>> “the need to have a monetary policy of the Central Bank to cover the deficit“   SO MY POINT BEING THAT ONE OF THE SOLUTIONS TO THE DEFICIT IS THE NEW MONETARY POLICY – THAT IS SOMETHING TO SMILE ABOUT.
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Delta - We are on the verge of a big change.  Because of the oil prices, a lot of things moved faster in our direction. Some of us were thinking that they could drag this out till March or April or June of 2015 but I have to tell you that in my opinion…based on the evidence that we got…that January 2015 we might see the rate change! …all of the members of the Parliament are asking the same question…“how are we going to fix the deficit?” The financial committee assures everybody that with the help of the CBI that change is coming.  The only help…the only savior that will save the GOI is the CBI – (which just happens to be working together in a coordinated way).

Budget – …Parliament met (Monday) and they did read it the 2nd time and allowed time for open discussion. Next Tuesday (Jan. 20th) they should vote on the budget. If not, it should be passed before the end of this month! And will be effective retroactive to January 1, 2015. The good news is that for the 1st time in 11 years they have a budget that will pass. …we all know it’s ready. They could vote for it on Thursday.  IMO, we all know that 1166 is not going to help them at all. They have to come out very high. Because of the oil prices and the deficit…they will have to come up to $1.49 to $1.50…at the lowest at $1.00.   IMO – They are going to listen to the IMF and increase the value of the IQD. 
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Aggiedad77 - Am I excited…well to put it one way…YES!  We are seeing the GOI and the CBI coming together…they have committee work that is going on to tweak the MR (Monetary Reform) or the ER (Economic Reform) which ever you want to call it…they are meeting, they met last week on Wednesday…The CBI is ready…but we know they have been ready for a long time.  But now they are ready to do their duty…their platform is ready…they stand poised…for once…the CBI…the COM…the Parliament and even within the Parliament the Fin Committee are all stacking hands on one thing…changing the MR…is key to overcoming their economic crisis right now.

So what does this mean…according to [Intel Guru] Delta, they need to change the currency rate to make this MR happen to deal with the deficit they claim is in the budget…no deficit no economic crisis…Delta also believes this could happen any day…and may not drag out to the end of the first quarter.   …forget the budget…the budget will change when the CBI gives the word…but the message will first come from the CBI…What are they looking for…the correct timing and the coordination with the government…the timing is coming…soon.

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Dinar Updates @DinarUpdates ·

We will not vote on the budget if you mention the name of al-Maliki in Mosul investigations

http://www.dinarupdates.com/showthread.php?14984-The-Dinar-Daily-Wednesday-January-14-2015&p=92307&viewfull=1#post92307 …

Embedded image permalink

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Kaperoni - Article quote:  “said the central bank keen on the implementation of monetary policy and invest their tools, including the Iraqi economy in general serve.“  Looks like these bonds will reduce the money supply (dinar) in return creating demand for dinar and strengthening the currency value. This looks like a good way to improve the Market Rate and get the dinar in compliance with the IMF.
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Enorrste - Iraq has located over $200 billion in stolen funds that belong to the government of Iraq but are located in other countries. I have read articles that clearly indicate the desire of those countries to return the funds to Iraq as soon as possible.  Iraq is very well managed now, with Abadi, and as soon as Shabibi takes back the CBI we will see the street rate fall in line with the official rate, reserves begin to rise again, and the plan initiated as originally stated. Just how Shabibi will accomplish this has yet to be revealed. But with $200 billion at the door I don’t think he will find it too difficult to find a solution.
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Stryker - Today many articles have now come out confirming the announcement of a complete consensus of all the political blocs in the approval to the 2015 Budget for next Tuesday the 20th.
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Dinar Talk INFO Call!!

w/BGG – from Tues 1/13

Click-n-listen

Smart phone user link – Click here

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Millionday - Article quote:   ”Committee announced the United Nations Compensation Commission, on Thursday, their consent to request Iraq to postpone the deposit of 5% of its oil revenues in compensation to Kuwait from the Gulf War , indicating that the delay will be for a period of one year…“  SO THEY RECEIVED A YEAR FOR THE KUWAIT PAYMENT TO ALSO HELP WITH BUDGET.  THIS WAS APPROVED FORMALLY BY THE UN.  TOMORROW [TUESDAY] THE BUDGET WILL BE IN PARLIAMENT AT THEIR FOURTH SESSION I BELIEVE – THEY HAVE STATED THAT THEY WILL VOTE THE SAME DAY AS THEY HAVE PERMISSION TO EXPEDITE.
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Mnt Goat - …we were in a good window to possibly see the RV from last Thursday thru to Sunday.   I knew for a fact Iraq was targeting to go live with the Iraqi Stock Exchange (ISX) global sector and they needed to have a current global rate for the IQD or a rate indicative of a true value to their currency…  You see they are desperately trying to sync up events…all trying to get Iraq completed to meet USA and UN satisfaction.  …over this past weekend the finance ministry came out with a note on the ISX screen stating that trading was to be held up due to the economic reforms now in progress. …this was actually amazing news.  …we now know that the RV is in fact tied to the ISX currency trading of the Iraq dinar going global. Rumor that Iraq is going to try again on Jan 15th  for the global activation of ISX. They will need an RV prior. I do not see a chance in hell of this happening.

…with…other pending items such as article 140, the budget and still security issues with Anbar, I do not expect to see any announcement of completion of economic reforms in the near future.  …there is only ONE lonely event to get Iraq back in the global international markets. This is to have the USA release the rollout…  Then the rate will be live to the rest of the world.Then Iraq will join the international community. Everything else to be completed is just a matter of conjecture and political demands now being made upon Iraq. This rollout will  not happen until all these demands are met. No one has a list.
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sczin11 - ANY COUNTRY THAT WILL GIVE CREDIT TO THE NEW IRAQ, SHOWS ONLY 2 THINGS… CONFIDENCE AND STABILITY IN THEIR ABILITY TO REPAY
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Check out the Dinar Corp 120+Max – it’s EQUITY!!

Commercial Solicitation

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tman23 - …I have a considerable amount of time dedicated to vetting the speculative theory….AND QUITE FRANKLY THE POSSIBILITY OF GETTING RICH EXISTS! …as of recently we have…A Republican Congress that passed an Omni Bus Bill where NOBODY was able to read it AND to date they still don’t know what is in it…We do know at the 11th hour they slipped in lifting US Bank regulations that restricted “speculation investing” AND the US Government would bail them out…So IMO…Now they will accept your IQD! ..,what I spoke about in 2012/2013…are now surfacing…They are the requirements to make exchange possible…So with all this happening I am blown away with anticipation…8 days and counting!
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Tlar - The dinar is stable.  Iraq’s debt is low compared to other countries as the reserves they have including gold could pay all their bills if no income came into the country for longer than the IMF requires.  So as far as their ability to cover imports and debt for three months as required of reserves, that’s a no brainer. We have seen Iraq on the verge of civil war followed by terrorists attempted take over.  What has remained stable and strong is the Dinar.  In fact it has gained in strength. Iraq’s problems have always been short term waiting on real leadership and management to resolve its problems.  The world is waiting on their doorstep to dump money into their economy.  I believe Abadi and gang are trying to get the door open.  The currency is safe and as anybody who ever looked deeply into this investment knows.   It is undervalued plain and simple. 
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Aggiedad77 - They have just spent a number of days on the second reading of the budget and have announced the vote to take place on Jan 20….this all from their official website.
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home7

Iraqi Dinar/Dollar auction 1-14-14

Currency Auctions Announcement No. (2865)

This daily currency auction was held in the Central Bank of Iraq on the 14-Jan-2014

The results were as follows:

25k-Iraqi-Dinar-200x96DETAILS                                                              NOTES
Number of banks                                                19
Auction price selling dinar / US$                    1166
Amount sold at auction price (US$)               261,081,000
Total offers for buying (US$)                           261,081,000

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

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ScottiG - Abadi continues to speak about going forward…the latest…”opening up for foreign investments. I can not image the world coming into Iraq and investing without the CBI changing the status of the IQD and with the change in status a reality rate.
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Millionday - [When will ISX open?]   IT OPENED TODAY [SUNDAY]  IN COUNTRY.   IT STILL SAYS THIS ON THE TOP OF ISX >>>”We are sorry, Price feed is not currently updated during session due to feed issue.”  – WE WANT IT TO GO GLOBAL — SO IT IS BACK ON LINE AND NOW WE ARE WAITING FOR THE ECONOMIC MOVE TO GO GLOBAL WITH THEIR STOCK MARKET.  
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Shredd - Abadi & Shabibi = dream team.   It’s gonna be a good year folks…imo IMF is eager to see Iraq out of the dual currency status.   imo, this is the year we will see currency reform begin, we may choose to wait it out longer for a greater return but imo there is no way the rate will be 1166 a year from now…too many indicators saying so.  CBI said gradual process to begin first part of this year and the constipation of Maliki is gone so with govt support, we should expect the plan to move forward.
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Talk about the return of al-Maliki trial

Has become the issue of the trial of former Iraqi Prime Minister Nuri al-Maliki and his government, Talk time on social networking sites, especially (Facebook), where activists stressed the need to open the files relating to the financial and administrative corruption, al-Maliki during the presidency of the Iraqi government. He revealed to the Parliamentary Integrity Committee member of the Iraqi Adel Noori, told the network Roudao media, that “the Commission is studying a number of files relating to corruption,” adding:

“If proven Maliki was involved in one of those files, it will be submitted no doubt to the Iraqi judiciary.”…

Read More: http://dinarupdates.com/blog/
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tman23 & sczin11 - [could it EVER be possible for non circulation dinar like we hold not to be honored just circulated dinar when they rv?]    NON _CIRCULATED CURRENCY…Means that the bills are in excellent condition… Any currency released by auction or otherwise is counted as in circulation by the issuing Central Bank…AS A MATTER OF FACT, IN MOST COUNTRIES, MOST UNCIRCULATED CURRENCIES, LIKE WHAT MOST OF US OWN, OUR NOTES/COINS ARE WORTH MORE THAN WHAT IS CIRCULATED IN THE ECONOMY AND OPEN MARKET.   MONEY BEING HELD BY CENTRAL BANKS AROUND THE GLOBE HAS NO VALUE… TOTAL ABSURDITY
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Stryker - The Parliament completed the second reading today and adjourned until the 20th and at that point they should read it for the third time, vote and approve it.  It is my understanding that the Finance Committee needs this much time to redraft it according to all the changed require, including a final crisis per barrel dollar amount that they can live with. The IMF has ask them to make sure that the 2015 Budget is a realistic one and why it is taking so long to get right but rest assured that this will be the first time Iraq has passed a budget in the constitutional period according the the President of the Finance Committee. Just one more achievement for PM Abadi’s new government. One more important piece of information, the Central Bank will be changing it’s monetary policy to help support the deficit next year and for years to come.
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OOTW - …the articles we’re seeing saying there’s no allocations for the national guard and that the provinces haven’t received allocations in the budget are good indicator’s they’re going to take care of these items…which means…the national guard law, law 21 and the fed council are going to be approved…they’re interconnected.  “Committee of the Regions in the review meeting the reality of the provinces January 11, 2015“  we’re cooking with gas when we get law 21, national guard and fed council enacted...beg of some kind of stability for private sector and investment development.
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Maliki assigned 200 important [posts] to follow a proxy before his departure from the Prime Minister [position]


Revealed the leader of the Supreme Islamic Council and a member bloc citizen Fadi al-Shammari, for the former Prime Minister Nuri al-Maliki

appointed 200 people from his followers in important positions proxy, before leaving office Payam…including the

…General Secretariat of the Council Ministers and Central Bank…

and the Bretton Alsaaaan prisoners and martyrs. ” Shammari said that

…”al-Maliki assigned these positions a few days before he left for the seat of government, ie, as head of the caretaker government, and therefore this is a violation of the Iraqi Constitution and the law,”…

noting that “the Commission equilibrium state institutions that formed the current government, will review all of these appointments.”.

Read More: http://dinarupdates.com/blog/
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wmawhite - when it comes to the unity of Iraq…today’s announcement that the Saudis (Saud Arabia) has a building for their embassy on Iraq is huge! The Saudis are Sunni…as is Anbar Province. The Suadis deciding to reopen their embassy in Iraq is regional recognition for what PM Abadi is doing in bringing Iraq together. This brings Iraq’s entrance into the global community closer.
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sczin11 - [is there a possibility something happening end of this month?]   NO ONE IN DINARLAND, INCLUDING ME, KNOWS THE DATE OR RATE…WE LOOK FOR TRIGGERS, AND USE OUR BEST EDUCATION, UNDERSTANDING, LOGIC, ETC… TO FIND THE TRIGGER.
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tman23 - After 6 months of being off-line and no way for citizens to collect their salaries in Sulaymania…(the CBI had shut the area down)…This morning [Sunday] it was announced…THEY ARE BACK IN BUSINESS! Now we expected that when they went on line that shortly following would be the Qi cards accepted in ATM’s outside the country…”speaking in days…not weeks”!

[it sounds like to me the CBI is letting everyone know we're about to go "full throttle" with the iqd so get ready.]  With the payment system opening up in Sulaymaniya this morning [Sunday] one might assume the process has begun…Everyday from now till the 21st will be very interesting…Our answer to this speculation is 10 days and counting down.
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home7

Iraqi Dinar/Dollar auction 1-13-14

Currency Auctions Announcement No. (2864)

This daily currency auction was held in the Central Bank of Iraq on the 13-Jan-2014

The results were as follows:

25k-Iraqi-Dinar-200x96DETAILS                                                              NOTES
Number of banks                                                9
Auction price selling dinar / US$                    1166
Amount sold at auction price (US$)               108,383,000
Total offers for buying (US$)                           108,383,000

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

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Aggiedad77 - it appears the second reading of the budget is complete…some MP’s may not be the happiest but they got through this and now on to the vote…”next week”…I was hoping this might mean later this week, but I think we are actually looking to “next week”.
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Jester - …I DO NOT DO RATE OR DATE… BUT… THE LAST TIME FRAME I GAVE WAS AFTER… REPEAT AFTER… THE 15TH… WHICH IS CLOSE… I ASKED EARLIER IF THAT NEEDED TO BE MOVED YET… AND DO NOT HAVE TO AT THIS TIME…IT IS THE INFORMATION WE HAVE RIGHT NOW…WE WILL HAVE TO SEE HOW IT PLAYS OUT… BUT I AM NOT EXPECTING ANYTHING UNTIL AFTER… REPEAT… AFTER THAT.
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Millionday - Article quote:  “House Speaker Salim al-Jubouri, said at a news conference on Sunday that on Monday will be the end of the second reading of the budget law…“ [Will they vote on it after that?]  THE REPORT WE HAD STATED AT THE SAME DAY.   THE BUDGET IS BEING PLACED ON THE TOP OF THE MOST IMPORTANT TO BE DONE.  ABADI SEES THE LACK OF BUDGET LAW AS CORRUPTION TOWARD THE COUNTRY OF IRAQ — THIS IS A HUGE STATEMENT – … WITH TOMORROW [MONDAY] BEING THE LAST DAY OF THE BUDGET MEETING.
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home7

Iraqi Dinar/Dollar auction 1-12-14

Currency Auctions Announcement No. (2863)

This daily currency auction was held in the Central Bank of Iraq on the 12-Jan-2014

The results were as follows:

25k-Iraqi-Dinar-200x96DETAILS                                                              NOTES
Number of banks                                                18
Auction price selling dinar / US$                    1166
Amount sold at auction price (US$)               150,695,000
Total offers for buying (US$)                           150,695,000

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

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Aggiedad77 - Article:  “Iraq delivers a building inside the Green Zone to the Saudi delegation to re-open its embassy  Iraq offers up the old Saudi embassy facility to the Saudi’s who are coming back to town and are expected to be operational within the next 2 months…doors continue to be open that were sealed years ago…and progress continues to be made in positive directions.
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sczin11 - Article quote:  “Khandan -ali Naji Stressed the coalition of citizen’s parliamentary bloc (ISCI), the House of Representatives that the followers of former Prime Minister Nuri al-Maliki, does not affect the work of the Iraqi Council of Representatives“ ANOTHER HUGE STATEMENT… MALIKI AND HIS SUPPORTERS, ARE SMALL IN NUMBERS, AND BASICALLY, NOT INFLUENTIAL IN THE RUNNING OF THE “NEW IRAQ!”   …they have become a minority is impressive and the number does not exceed the fingers of one hand. 
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tman23 - …if the US exchanges IQD and holds it in the coffers…Iraq is under the US control for years to come…No matter the price of oil…The USA would control their economy…So there are plenty of reasons for a $3.40 plus rate…A slow float doesn’t float anything…it sinks!
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VIDEO: Peshmerga foil ISIS attempt to take Kurdish town

Comment(s):

Muraz Adzhoev - The Peshmerga army, the other Kurdish armed groups, the people of Southern Kurdistan and Western Kurdistan have been fighting against the enemies, well known in the world and the Greater MidEast region that purposefully created, directed, supported and sponsored radical terrorist organizations of different and contradicting islamic sectarian identifications. It seems that in the current circumstances there is no way out for the people of Western Kurdistan, but only to join and be reintegrated with the people of Southern Kurdistan in order to establish a sovereign democratic secular state of South-Western Kurdistan and to reduce as much as possible the tragical cost for freedom and self-determination.
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Aggiedad77 - This has to be the first time since at least 2006 that “security and stability” of an Iraqi government can seriously have any meaning at all…when the leadership can actually put coherent thought processes together that create unity…one can easily see how security and stability would tend to follow…they have….IMO…pushed the can down the road in a proactive manner…since Sept 8, 2014...look for the steam to pick up I believe in this first quarter of 2015…a strong GOI…and Parliament…something I would have not thought possible from Iraq just a year ago.
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Chattels - Article Quote:  “The President of the House of Representatives, Salim al competent parliamentary committees to hold meetings with stakeholders to discuss the budget for fiscal 2015 to be next Monday, the last day to complete the discussion of the budget to allow the Finance Committee for study and preparation of the final wording before the vote…“  i continue to believe that the discussion and amendment to the budget will result in a final revision and vote four days after the final reading…such may be as early as MOnday which makes a vote possible on next weekend, the 17 / 18th.
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Millionday - Article quote:   “the opening of the Saudi embassy in Baghdad soon to be “in a sign of the return of the two countries after the formation of the new Iraqi government.” AFTER 25 YEARS THEY ARE REOPENING THEIR EMBASSY.   Quote:   “The Ministry is responsible for the organization of exhibitions in Baghdad and the provinces and the arrival of British companies; for the establishment of specialized exhibitions to display and sell products“  [this is such a big announcement... its not like some small minor country wants to trade with Iraq...this represents the UK!]  HUGE NEWS – COUNTRIES ARE READY TO DEAL WITH IRAQ — WHOLE COUNTRIES — NOT JUST ONE AND NOT JUST TWO – THEY HAD STATED MONTHS AGO THAT THE GLOBE IS RELYING ON IRAQ AND THE RETURN OF MARKET.  THE BUDGET IS NOT DONE AND THE LAST DAY IT CAN BE IS MONDAY.
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Mahmood: Release Shabibi, Allawi was legally and without pressure

Alsumaria News / Baghdad - The President of the Supreme Judicial Council, Medhat al-Mahmoud, Sunday, that the former Central Bank Governor Sinan al-Shabibi and former Minister of Communications Mohammed Allawi forward appeal the verdicts issued against them have been freed, stressing

…that the release of al-Shabibi, Allawi was legally and without pressure…

Read More: http://dinarupdates.com/blog/
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Tlar - The CBI has only to cover “CIRCULATING CURRENCY” period. The currency you hold and I hold and people like us around the world is “NON CIRCULATING CURRENCY”.  Why?  Because it is not accepted anywhere and you don’t live in Iraq.  The dinar sitting in vaults around the world in central banks is “NOT CIRCULATING” either.  According to the IMF it too is not considered in this equation.  What is considered by the IMF is “CIRCULATING CURRENCY” and that is the currency being used in Iraq whether in a bank account or otherwise…So out of the 35 to 40 trillion dinars let out by the CBI, how much is CIRCULATING still?

The CBI won’t publish that number but in Jan of 2012 Saleh let a little of the cat out of the bag.  He stated early in 2012 that there were only 4 trillion “circulating” which indicates that the rest is “NOT CIRCULATING”.  That was in the first part of 2012 and we know from the auction numbers that since then CIRCULATING DINARS have been reduced. So what can we gather from this?  We might assume that today we have less than 5 trillion dinar “CIRCULATING” and that the rest lie in investor hands such as you and I, and with central banks around the world and that this currency is not “CIRCULATING” and is not to be considered in what Iraq’s reserves must cover.  This would affect what Iraq’s currency is valued at exponentially IMO.
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Enorrste - [I think I heard you say ...that as soon a the float begins, you will run out and buy more dinar. Do you think that enough people doing that could further increase the value of the dinar -- even before the passage of banking and investment laws leading to the passage of Article VIII (and of course improvements in security)?]  the short answer is:  YES.
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Frank26 - [Does your team think that the ISX and ESX will reopen as planned tomorrow or will they wait for the rate past January?]   They know without rate there is no sense in opening.   So IMO…No.  If they do then it’s for the motion of it all not the monetary plus.
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Finance Committee: budget will be submitted to vote in Parliament next week

Alsumaria News / Baghdad - Said the parliamentary finance committee member Sarhan Slafaty, Sunday, that the committee is working to reduce the expenses of ministries within the authority available to it, indicating that the budget will be submitted to a vote next week…

Read More: http://dinarupdates.com/blog/
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Enorrste - …we recently read an article that stated that the Parliament had found $200 billion in Iraqi funds that had been stolen and were now located in banks around the Mideast?  That is the money that Maliki stole.  As long as Keywords is in control of the CBI it is not likely that they will act to recover the funds, irrespective of Parliament.  However, if Shabibi were to get back in as head of the CBI, then not only will the funds return to Iraq (which will be HUGE), but it will also point the finger directly back to Maliki, who will then be prosecuted.  This, then, is the real reason that Maliki is trying to get Shabibi back into hot water:  he can’t afford to have him come back to the CBI for the reason just stated.
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tman23 - The “renovations” are not at the ISX but rather “bank payment systems”…So those who invest in the ISX will be transferring money, exchanges etc…and how this is done or calculated is the “change”…it is the signal for “international” about to take place.
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sczin11 - REMEMBER, OIL WAS $32/BARREL WHEN THE RATE WAS $3.22! ALSO I ASK, WHAT IF THE BUDGET WAS APPROVED AT A MUCH HIGHER RATE, AND MID YEAR OIL FELL DRASTICALLY? WOULD THE COUNTRY SHUT DOWN AND IMPLODE? UNDERSTAND MY OPINION HERE?  [THE ONE THING THATS NOT TAKING INTO CONSIDERATION IS WHEN IT WAS 3.22 AND OIL WAS 32.00 A BARREL THEY WERE NOT TRYING TO REBUILD THE COUNTRY FROM WAR.]  CORRECT, AND THEY ALSO WEREN’T PUMPING WHAT THEY ARE TODAY, AND DIDNT HAVE THE WORLD SUPPORT THEY HAVE TODAY, AND HADN’T FOUND GAS THEY HAVE TODAY, AND DIDN’T HAVE GOLD LIKE THEY HAVE TODAY, FOR STARTERS.
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home7

Iraqi Dinar/Dollar auction 11-1-14

Currency Auctions Announcement No. (2862)

This daily currency auction was held in the Central Bank of Iraq on the 11-Jan-2014

The results were as follows:

25k-Iraqi-Dinar-200x96DETAILS                                                              NOTES
Number of banks                                                13
Auction price selling dinar / US$                    1166
Amount sold at auction price (US$)               155,137,000
Total offers for buying (US$)                           155,137,000

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

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Enorrste - …moving to a floating currency, in the short run, will not change a thing.  It comes out at 1166 to 1 and is now a world-recognized currency.  Within Iraq there will be no change at all, initially.  However, over time (and this is the most important fact…) investment will come into Iraq that will improve the lives of the people.  As the investment improves the lives of the people the value of the dinar will rise…  Add to that international speculation in the dinar and it will rise even higher.  At that point, imports into Iraq will become cheaper, not more expensive.  This means that the influx of imports will improve the lives of the people of Iraq…!  There is no way, and I emphasize, NO WAY, that moving to a float will destroy the dinar.  Just the opposite will occur:  the dinar will rise in value.  

With respect to opening at 1 to 1… Just as it is impossible to RV at $3.50 it is also impossible to RV at $1.00 per dinar.  It would destroy the economy of Iraq because, overnight, their money supply would be $40 trillion!  That is larger than the entire money supply in the world.  It won’t happen.  Similarly, if they LOPped…then there is no benefit whatsoever to the Iraqi economy and …would make no sense at all.  A LOP would do nothing good for the value of the dinar.  It is “revenue neutral” and the CBI is and has been on record for years that the goal is to “restore the value” of the dinar to what it was in the late 1970s.  The LOP will not accomplish that, and it is not in the cards…it just isn’t happening.
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Aggiedad77 - …what we are seeing is a worthwhile process by the Parliament, they are being very thorough in their discussion of the budget and its process…they meet again on Monday making final recommendations to the Finance Committee on any final wording changes…then a vote…I suspect the vote will be next week sometime…the main sticking point..of course has been the concern over the price of oil and what its future holds for Iraq.
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Tlar - The strategic study in 2008 suggested they could support 1.13 to 1.  That was then.  My argument has always been that in 2008 the reserves were low (30ish billion) and there economy was much smaller due to the fact that oil production was around 1.5ish million bpd.  Today I would argue that the reserves are over 100 billion (BIS, Foriegn currency and gold) even though the CBI states they are 70 billion.  There has been a few articles that slipped out that stated 100 billion and there was 82 billion released to the CBI that I believe the CBI deposited with BIS during 2014. So how much do they have in reserves, at least in the short term we may never know the truth…My point is this, what was good for 2008 as far as the rate they could support, is at least 3x’s better today.
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Hakim: the reopening of the Saudi embassy in Iraq proves entrench democracy and the stability of his government

[Follow-where] The head of the Islamic Supreme Council of Iraq Ammar al-Hakim said, “Saudi Arabia’s move to reopen the Saudi embassy in Iraq

proves that democracy has become entrenched in Iraq and stable government.”

Hakim said in a press statement in response to a question about his assessment of the reopening of the Saudi embassy in Iraq, “said the openness of the Arab countries on Iraq and dealing with the Iraqi government

…proves democratization and stability of the government…

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

sczin11- WOW! WHAT A STATEMENT…FROM HAKIM.

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Randy Koonce - Again No one has cashed in. There are no #800 numbers no groups that you have to get in… this is just an RV or RI which ever you want to call it with Iraq…There is no Global event… Do not worry about the budget because they will not open it until the RV so following the Budget is not a great plan…Remember they passed 4 budgets and as of yet opened one.  So a window will open Sun evening until the middle of Feb… I know it is a little large window but many things are happening on the inside that could make it go fast or slower… Truth is I do not like to say anything until I know we are in a good window…That being said anything can stop it slow it down or get if moved…I just wait until there is something to say…or the timing is getting closer…so lets see if the next few days brings us some happiness… We are close.  Every large bank will exchange.   Breathe…
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OOTW - THEY HAVE TO READ THREE TIMES,  …DIRECTLY FROM THE PARLIAMENT SITE – IN THE LAWS SECTIONS, SPECIFICALLY STATES THAT THE BUDGET HAS ONLY BEEN READ ONCE (AND THAT WAS FROM YESTERDAY’S “UPDATED” LAWS SECTION AT PARLIAMENT SITE)
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tman23 - Keep staring at the wall watching paint dry and you’ll see all sorts of things that are not there…Thats the best description of IQD land right now…I am waiting on January 21st as a date to be informed…
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Check out the Dinar Corp 120+Max – it’s EQUITY!!

Commercial Solicitation

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Tlar - I have avidly followed the dinar since Nov 2008.  One thing I have seen the CBI do over and over is try to get the government on board to monetary change.  IMO the facts to me show that Shabibi was ready as far back as 2010 and with each passing year he set up deadlines that he had hoped to hit on currency change.   This was all before the laws that some feel now are so important or before any budgets.  In fact the CBI stated not to long ago they will do this when they think the time is right, with or without the budget being done.   Monetary change is in itself a goal stated by the CBI and IMO it in itself must be independent of everything else.

The job of the CBI is to protect the currency and IMO that’s what Shabibi was doing in his last years by trying to institute this program.  The most important thing that bleeds through all the years is government support. Had he had the support of the government and its institutions it is my belief this would all have been over years ago but one can only speculate why Maliki has adamantly fought this all the way.  Government support was needed then and today we finally see that in place.  That’s why I think we are so close you might be able to touch it.  This weekend will see if I’m right or wrong.  I think they are as they themselves have stated “ready”.
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Chattels - [What is your take on the ISX opening without a raise in the currency value? Is it a requirement for the ISX to move forward?]  if our event MUST occur before x,y,z is happening then our event would be predictable, and it is not… 
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MarkZ - [1/8/15, 8:56 PM]  News has been good. Now we wait and see how the next 72 hours or so.
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Finance Minister announces surprise of running out of cash flow in the state treasury

New Finance Zebari pointed out that during 2014, there was no law of the financial budget, and was discharged without a governing law for disbursements, and it is defective state administration, the absence of the budget law.

He cautioned Zebari, who was one of the most prominent members of the former government that 2015 will be tough on Iraq from the financial point of view, especially during the first half of it….

Read More: http://dinarupdates.com/blog/
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Frank26 - They are going to start paying OUTSIDE of Iraq electronically.
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Chattels - Article:  “Iraq Forces Coalition: We Will Not Vote On Adoption The Budget If It Does Not Include The National Guard Law“   the Iraqi Forces Coalition…are Sunni…not enough of them to frustrate passage of the budget, but the goal is consensus, so expect perhaps some delay to negotiate to meet their concerns…by delay i mean likely that the end of the month is doable and consistent with several articles.
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tman23 - The CBI has two separate foreign exchange rates: a floating “market” rate available to everyone, and a fixed “auction” rate available only to banks and certain importersThe market rate for dollars is currently much more expensive than the auction rate due to high demand. This is only natural: the gap (or “spread”) between the two widens during times of crisis because people lose faith in their currency and flock to the safety of dollar holdings.
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Obaidi: Maliki and his military commanders .. would be tried for treason!

Defense Minister Khaled al-Obeidi, on Wednesday, that “the fugitive leaders of the Battle of Mosul will be held accountable in accordance with Article 29 of the Penal Code for treason.”…

…Maliki aware of all the movements of army troops and withdrawal, indicating his involvement in the incident, the fall of Mosul…

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

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OOTW - THEY’RE SAYING “THEY WANT TO RELEASE THE EXCHANGE RATE TO THE MARKETS, FREE FROM GOVT INTERFERENCE, TO FLOAT LIVE ON THE MARKET, BASED ON GDP
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Adam Montana - The price of oil will have an effect on how high they can RV, but for them to try to wait for oil to go back up would be foolish…  I believe Iraq is smart enough to understand that concept… so their smart play would simply be if they were going to RV at $1 with $100 per barrel oil, then they simply RV at .50 with $50 per barrel oil.
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sczin11 - THEY ARE SUGGESTING, A COMMITTEE OF TOP LEVEL PERSONNEL, FROM COM AND HOUSE TOGETHER, TO MONITOR THE BUDGET THROUGHOUT THE YEAR, MAKE ADJUSTMENTS IF NECESSARY IN THE LINE ITEMS, AS THERE ARE SERIOUS FINANCIAL AND MILITARY ISSUES TO BE CONCERNED AND DEALT WITH…THEY ARE SAYING TO GIVE THIS SPECIAL COMMITTEE THE POWER TO MAKE CHANGES AS THEY SEE FIT, WITHOUT GOING THRU VOTING PROCESS.
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Parliament resumes its reading of the budget bill

BAGHDAD / Obelisk: the House of Representatives resumes its regular Saturday to complete the second reading of the budget law will also host hosts commander of Anbar.

According to a parliamentary source familiar with the “obelisk” Friday that “the realization of tomorrow will be a hearing schedule for the completion of the second reading and discussion of the draft federal budget for the 2015 law.”…

Read More: http://dinarupdates.com/blog/
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Aggiedad77 - …lots of good to great news…continues to point to Iraq taking things to new planes and continuing to move forward in a manner that bespeaks a nation that has finally gotten their stuff together….but at the same time continue to mop up the room of any former riffraff that has been left over from the prior government…signs IMO…appear very strong.
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Delta - URGENT FROM IRAQIA TV:  “GOVERNMENT OF THE ECONOMIC COMMISSION HAS TAKEN MANY OF THE ECONOMIC AND FINANCIAL DECISIONS THAT WILL BOOST THE ECONOMY“.   KEEP IN MIND THAT THE CBI GOV IS A MEMBER OF THIS COMMITTEE!  [ I would be so excited to read that you had heard on Iraqia TV that PM Abadi just announced Dr. S [Shabibi] has retaken governorship of the CBI.]   YOU WILL …BUT IMO WE WILL SEE THE CHANGE BEFORE THAT.  DATE IS ALREADY SET!
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SteveI - Article Quote:  “Parliament did not complete the second reading of the Budget Law due to disputes over the financial deficiency,”   This does not at all surprise me.   This will never get done unless they do more voting and less discussing…  They can pass all the laws they want and make all of the monetary reforms they want, but unless their rate changes, it is all for nothing.
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Dinar Talk INFO Call

w/BGG – from Jan 8th

Smart phone user link – Click here

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Adam Montana     [do you think the low gas prices as of late would give speculation that Iraqi will RV soon [and] where will the trillions of dollars come from when a RV occurs…?]   The price of oil doesn’t have anything to do with “if” or “when” they RV, but it could have an impact on the RV amount. We’ll just have to wait and see what they do with that one. Regarding where the money comes from to cover the increased value, that’s easy. …they won’t be handing out physical cash to cover your currency.  That’s the beauty (and shame) of all fiat currencies like the Dinar or the USD. As long as the world will accept Iraq’s promise to honor the value they state their currency is worth, that’s all that matters. Iraq has vast amounts of liquid gold, their production keeps increasing, they continue to make positive progress with their government, etc etc… all that adds up to bolster their credit-worthiness.
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tman23 - So I asked…… What is the “renovation of payment systems” that the CBI had announced for the 7th and 8th……  The cut to the chase answer……. The beginning to of the end of the foreign currency exchange auctions !!
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Millionday - TREASURY BONDS ON THE ISX AND READY TO GO -- REMEMBER THAT THE 11TH ISX OPENS BACK UP…GREAT NEWS.   INVESTORS WILL BE ABLE TO INVEST ON THE ISX IN IRAQ THROUGH THE PURCHASE OF BONDS THAT WILL MATURE WITH GAINS AS THEY GROW THEY HOPE.  [will they do that at the reality rate? or at the imposed rate?]  WE SHALL SEE — I WOULD GUESS REALITY AND CALCULATED AS INTERNATIONAL COMPLIANCE BUT WE SHALL SEE IF THEY ARE READY TO GO.
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Maliki loses a lawsuit filed against Kurdish company and fined in the amount of $ 165 million

Said of news reports, that the former Iraqi Prime Minister Nuri al-Maliki continuously wasting public money even with his release from the prime minister. Has referred a large amount of compensation imposed by the court in the court case against him to the government to pay the amount of the state budget for the current year.

…He has disrupted the implementation of the contract to extend optical cable by Nowruz company after a vacation project by the Minister of Communications Mohammed Allawi, and he accused the minister of corruption..

Read More: http://dinarupdates.com/blog/
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Tlar - Recent articles from Saleh arguing the position of postponing the project until 2016 could arguably suggest he is trying to stop the project because it is  scheduled to launch soon.  While that’s just speculation on my part I can’t help but see bits of proof here and there that the project is ripe for implementing.  My concern is two fold.  One is Saleh and his desire to see the project postponed again.  The other is KEYWORDS and who does he really answer to.  The fact that Maliki asked him, “Maliki’s appointee”  to protest Shabibi’s aquital suggests that there might be a deeper relationship there between he and Maliki and that Maliki thinks he can still influence this outcome.   Time will tell whether this is a true concern…  So to me KEYWORDS is an unknown  as to where his loyalty truly is.  Is he part of the new Iraq or a wolf in sheeps clothing.
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Frank26 - URGENT FROM IRAQIA TV:  “FINANCIAL COMMITTEE OF THE PARLIAMENT:  WE HAVE TO ACTIVATE THE ECONOMIC REFORM AND PRIVATE SECTOR ASAP TO HELP THE INVESTMENT PART OF THE BUDGET.”   Which will be activated by a Currency Rate Reform …Surely not at 1166.
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WILDDUCK - [Do you have any thoughts on where we stand as far as the RV/GCR?]   RIGHT NOW QUIET IS A GOOD THING IMO. MEANS PEOPLE ARE WORKING. [IYO who is holding this ball? Is it Iraq, The IMF, the UST, The US Gov...? Who gets to push the button?]  NONE OF THE ABOVE AND NO HOLD UP IMO.
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Check out the Dinar Corp 120+Max – it’s EQUITY!!

Commercial Solicitation

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Tlar - I feel very strongly that the delete the zero program is on and that the study done in 2008 that suggested they could support the currency back then at $1.13 has since been modified based on the changes that the country has gone through.  If I remember correctly the oil production in 2008 was 1.5 ish mbpd and the CBI reserves were in the low 30 billionish.  So again we see both the production is up (closing in on 4 mbpd) and the CBI foreign cash reserves are way up (I would argue at over 100 billion even though they continue to espouse 70 billion = Gold, Cash and BIS)  We could assume that if they could support $1.13 in 2008 that that number could be much higher by now.

The CBI has stated through the years that they needed government  to insure a successful project.  They have that now and I think that is the game changer and that they are quickly trying to implement the project at this time.   I believe that they need a reality rate if they are to insure the progress they have made to this point.  That’s why I think by the time the ISX goes live is the best window we have ever seen.  Its only a few days away now to know whether or not this comes to pass.
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Mnt Goat - …what truly happened in parliament  yesterday on Weds Jan 7th…The session of parliament  conducted the second reading and the budget bill was read. The fact is they were not impressed with the changes made by the GOI to shrink down the deficit and are thinking about shrinking it yet even more.  Yes –it is not “done” as I  said it may get kicked back to the GOI once again for more changes after the second reading…we should not have to wait much longer since their new target is Jan 11th…if we do not see the budget bill passed by a voting session by Monday morning then we can expect to wait until Jan 20th as our next target date.

The odds are the they will try to meet the Jan 11th date  since the finance committee and the CBI also desires to have the ISX  start international trading with the live links to the global money exchanges and do it on Jan 11th and they need the IQD rate to be live and a tradable rate. So when can we expect to see the RV? I am still in the notion of the window of opportunity between today Thursday 1/8 and Sunday 1/11 sometime. This is contingent upon getting the budget bill deficit cut done and getting parliament to vote on the final bill prior to or on Jan 11th.
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Delta - URGENT FROM IRAQIA TV:  FINANCIAL COMMITTEE OF THE PARLIAMENT:  WE HAVE TO ACTIVATE THE ECONOMIC REFORM AND PRIVATE SECTOR ASAP TO HELP THE INVESTMENT PART OF THE BUDGET.
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Parliamentary session, headed by al-Jubouri, in the presence of 247 deputies to discuss budget

House of Representatives race began, on Thursday, its second session of the second legislative term of the third legislative year under the chairmanship of President of the Council and the presence of 247 deputies to discuss the budget bill…

Read More: http://dinarupdates.com/blog/
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sczin11 - CONFLICTING REPORTS, BUT CONSENSUS IS BUDGET WAS READ, MAY OR MAY NOT BEEN COMPLETED, BUT THEY WILL MEET AGAIN TOMORROW [THURSDAY], AND ITS ON AGENDA FOR READING , AND THEY HAVE STATED SATURDAY IS NEXT MEETING, AND MULTIPLE CONFIRMATIONS THEY WILL DEAL WITH BUDGET AT EVERY SESSION TILL APPROVED.
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Adam Montana - [...do you see a true end in sight for this adventure?]   It’s been a long time since I felt comfortable using the word “soon”, but yes – I think this is coming to an end SOON.
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Millionday - [did they pass the budget or did they put it off til Thursday?]  Quote:  “Published by all of Iraq [where] the parliamentary finance committee report on the federal budget for fiscal 2015, which was read today in the parliament session.”  ACCORDING TO THIS IT WAS READ AND PUBLISHED SO NOW THE VOTE OR THE VOTE HAPPENED — WE WILL KNOW TOMORROW [THURSDAY]  OR A DAY OR SO.  [was it published in the Gazette?]  IT DOES NOT SAY THE GAZETTE — I WOULD SAY ITS COMPLETION WAS PRINTED AND IS DONE TO BE VOTED AND PRINTED IN GAZETTE.   [...if they finish the 2nd reading tomorrow, don't they still need a 3rd reading? And is there a mandatory 4 day wait between the two?]  THEY HAVE CHANGED THE RULES SOME TO EXPEDITE THE BUDGET SO WE SHALL SEE IF THEY WAIT THE FOUR DAYS THEY STATED THEY WOULD READ THE SECOND TIME AND VOTE IN ONE DAY SO WE SHALL SEE.  TODAY WAS SECOND READING.
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Backdoc - WITH KUWAITS’ INTERTWINED WEALTH FROM IRAQ AND ITS 200 MILES OF OIL, GAS, AND GOLD ENRICHED LAND, KUWAIT SHOULD ALSO EVENTUALLY REVALUE AT A HIGHER LEVEL!   REMEMBER THOSE CONTRACTS IRAQ HOLDS TO SUPPORT ITS CURRENCY? RIGHT, WELL THEY ALSO SUPPORT KUWAITS’ CURRENCY TOO!!  SO HERE’S MY HOPE BASED ON SOUND RATIONALE.  I THINK NOT ONLY KUWAIT GOES MUCH HIGHER BUT SO DOES IRAQ WHEN IT RV’S!  WE SHOULD SEE A SOLID RE-INSTATEMENT FIRST THEN AN RV MUCH HIGHER THAN MOST FOLKS THINK!!
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home7

Iraqi Dinar/Dollar auction 1-8-14

Currency Auctions Announcement No. (2861)

This daily currency auction was held in the Central Bank of Iraq on the 8-Jan-2014

The results were as follows:

25k-Iraqi-Dinar-200x96DETAILS                                                              NOTES
Number of banks                                                13
Auction price selling dinar / US$                    1166
Amount sold at auction price (US$)               141,979,000
Total offers for buying (US$)                           141,979,000

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

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Aggiedad77 - Agenda of the meeting (2) Thursday (8) in January 2015“   Agenda…for the “Parliamentary Hearing” tomorrow January 8…the 2015 budget is fourth up on the list.   “Fourth: the continuation of the second reading and discussion of the draft general budget of the Federal Act of 2015 ( the Finance Committee ).” Session begins at: eleven in the morning.
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Adam Montana - Things just keep getting better! The budget was read today, as planned. It’s possible to have a decision as soon as tomorrow, but there is no official vote scheduled that I know of… either way, when Iraq meets deadline after deadline  after deadline after a decade of postponements and delays, you know it’s time to put on a smile! We already know that we have an HCA, and they are already talking about
making that an HCL. Again, moving quickly and making solid progress.
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sczin11 - BREAKING NEWS…Zaidi: Parliament will resume the second reading of the draft budget on Thursday.  THEY WILL GET IT DONE, ON THEIR SCHEDULE, UNFORTUNATELY NOT OURS.  REMEMBER THE 11TH IS ISX RE-OPENING… RV CAN HAPPEN ANYTIME…CBI IS AUTONOMOUS… BUDGET NEEDS RV, IMHO… NOT THE OTHER WAY AROUND.
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Integrity Commission to negotiate the recovery of Iraq funds and smuggled some countries respond

BAGHDAD – Iraq Press - revealed Integrity Commission, on Tuesday, it’s done the subject retrieval Iraqi money smuggled with the Ministry of Justice and the accountability and justice, he has been negotiating for the recovery of smuggled money, pointing to the existence of response from some countries to help Iraq to recover his money. ”…

Read More: http://dinarupdates.com/blog/
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sczin11 - Article Quote:  “The House of Representatives listened to the reports of the Finance Committees, economy and investment on the 2015 budget year, then the Council began to proceed with the second reading of the budget bill.“  JUST OFF THE PRESS…House of Representatives begins the second reading of the draft budget law.
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Millionday - WE KNOW THAT THE PRIVATE BANKS HAVE BEEN ENSURED TO BE INTERNATIONALLY COMPLIANT AND THIS IS GREAT NEWS.   NOTE — THE ISX IS TO RELAUNCH ON THE 11TH.   [So the international banks will be dealing with dinar only?]   THE REGULATIONS IN THE COUNTRY STATE THAT THE DINAR IS THE NATIONAL CURRENCY SO THEY WILL NEED TO EXCHANGE TO USE IT.   [So you still believe that the iqd must be a convertible currency when ISX goes live to the world?]  WHEN THE DINAR GOES INTERNATIONAL TO THE GLOBE IT WILL HAVE TO HAVE A FAIR TRADE RATE — REALITY RATE.   I CANT TELL YOU WHAT THEY SAY THAT RATE IS BUT YES IT WILL BE A RATE FOR INTERNATIONAL TRADE.
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Mnt Goat - ...even if the vote happens in parliament today and it passes there will still be no RV in Iraq and it is to be held up a bit longer. From my sources in Iraq they are telling me that there are some issues in Anbar that need to get resolved. The USA is still holding very strong on getting this done now …They are telling me this will not be resolved until Jan 20th . So this is our new target date for the any real possibility for an RV…they are already telling us it will not happen any sooner. Erbil is all but done and was supposed to be implemented when the new budget of 2015 is implemented. Artcle 140 too the same.  Amnesty law is also adjusted.  Probably our best window for an RV will be sometime after Jan 20th date. 
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Speaker: next week will see the announcement of several committees, including the Committee on Article 140

Khandan - The President of the House of Representatives Saleem al-Jubouri, the week will see the announcement of the formation of several committees including the Committee to Article 140. A statement of the Department of the media to the House of Representatives for al-Jubouri, was quoted as saying during the meeting, that next week will see the announcement of a number of standing committees or private, including the Committee to amend the Constitution and Article 140…

Read More: http://dinarupdates.com/blog/
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Aggiedad77 - Of all the news we’ve seen today…I pray that Abadi is able to deliver a 2015 budget to Parliament on Saturday…yes it forces them to postpone their vacation….but then I suspect we will see this Parliament working at a speed that might even surprise themselves at getting this budget passed…This may or may not bring about a change in the value of the IQD…but it should go a long ways in showing/proving to the PTB…that the new Iraqi government is serious about the future well being of their country and are not just doing “all they can to save their country”…but are actually “doing the right things to save their country”…
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From the Office of the Prime Minister

[827]

The cabinet held a special meeting on Thursday evening, corresponding to 11/27/2014, headed by Dr. Haider Abadi, the Prime Minister, to discuss the federal budget for 2015…

…As the general principles underlying the construction budget was discussed, especially in the context of securing a transparent relationship with the Kurdistan Regional Government, local governments, based on the perception of realistic data and financial security, and seeks to address the problems raised during the past years…

Read More: http://dinarupdates.com/blog/
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THIS REPORT WAS SENT TO CONGRESS LAST MAY. IT PLAINLY SHOWS IN THIS REPORT THEY EXPECTED THE DINAR TO REVALUE AT AROUND A DOLLAR IN 2013. This report is from page 94 of the massive SIGR report.

BGG ~This is a screen shot from the “Special Inspector General for Iraq Reconstruction” – Apr 2012, quarterly report to Congress. For members of our Government to say they have no idea what is going on here – means they haven’t read some very basic documents presented them.

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

The Exchange Rate of Foreign Currency in Economic Feasibility Studies 

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

Estimate the shadow price of foreign currency:…

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

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

Commercial Solicitation

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