CENTRAL BANK: DELETE ZEROS IN EARLY 2017
November 7, 2016
BAGHDAD / IBN – The governor of the Iraqi Central Bank on the Keywords that project to delete the zeros will be implemented in early 2017, indicating that the bank began to develop the first steps of the project.
BGG ~ This says they have already began to develop the first steps – indicating they are into the process (in late 2016). This would imply they are further along today… and likely many of the AML, electronic banking and international banking interactions are leading up to the implementation of this project.
Keywords and said in a statement on Monday, received Iraqi transmitter Network (IBN) a copy of the “The purpose of deleting three zeros from the Iraqi currency is to support the Iraqi dinar and make it a competitor of foreign currency,” pointing out that “this strategic project will serve the country’s economy if it will be inclusion of the Iraqi dinar in the global basket of currencies in the vital world exchanges. ”
BGG ~ This is a key phrase: “…will serve the country’s economy if it will be inclusion of the Iraqi dinar in the global basket of currencies in the vital world exchanges. “…
He added that the bank “is working on mechanisms for the implementation of this project is expected to start at the beginning of 2017,” noting that “the central bank began the first steps of the project through the selection of designs, companies and the country in which the currency will be printed.”
He pointed out that “the new currency entry does not mean the destruction of ancient coins, but will continue to trade for about ten years,” pointing out that “this period will enable the central bank to withdraw the old currency in accordance with the dynamics and mechanics in order to preserve liquidity in the market.”
Ibnnews.net
BGG ~ This is the first of the two “flashback” articles I mentioned on the Conference Call the other night. This was published in early Nov, 2016. Obviously, it is easy to see why there was so much excitement over the “first part” of 2017.
BECAUSE THEY SAID SO…
However, there now seems to be have been more to the story. Lots of info in this piece to reflect on though.
Another reason to repost and reflect on this, they have said nothing contradictory since. They are obviously not “on schedule” but they are not denying it either.
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The Central Bank: the draft zeros delete will be implemented in early 2017
Tomorrow Press / Baghdad confirmed the governor of the Central Bank of Iraq, on Thursday that the deletion of zeros project will be implemented in early 2017, indicating that the bank began to develop the first steps of the project.
Keywords and said for “Tomorrow ‘s Press”, said that ” the goal of deleting three zeros from the Iraqi currency is to support the Iraqi dinar and make it a competitor for foreign currency”, returned him as ” a strategic project that will serve the country ‘s economy.”
“The bank is working on the mechanisms used towards the implementation of this project is expected to start by the beginning of 2017 , ” noting that ” the central bank began the first steps of the project by selecting the designs and companies and the country in which it will be printed currency.”
He noted that ” the launch of the new currency does not mean the destruction of the old currencies , but it will continue to trade to about ten years , ” pointing out that “this period will enable the central bank to withdraw the old currency in accordance with the mechanisms will maintain market liquidity.”
The Finance Committee in the former House of Representatives revealed, (2013 August 15), for the postponement of the process of deleting zeros from the currency until after the next parliamentary elections, while confirming that the government is demanding guarantees for non – substituent currency back to the markets and forge.
BGG ~ This paragraph was some historical perspective leading up to the first part of the article…
The Central Bank of Iraq confirmed, in (April 25, 2013), that there is no intention at the present time to restructure the currency and the deletion of three zeros of them, denying reports that in this regard.
BGG ~ More historical background on the subject – referring to the 2013 time period (NOT CURRENT EVENTS)…
It is noteworthy that the General Secretariat of the Council of Ministers announced (April 12, 2012), wait for the application of the process of deleting zeros from the national currency, which had to stop all procedures related to the process mentioned until further notice.
BGG ~ This paragraph pretty much confirms the instance cited on PG 84 of the SIGR Report delivered to the US Congress in 2012. – This was a Maliki era decision. Obvious crookery going on.
It is noteworthy that some economists believe that Iraq is not ready at present to delete the zeros from the dinar, noting that the deletion needs to be a security and political stability as well as economic stability.
BGG ~ ….”the deletion needs to be a (in) security and political stability as well as economic stability”…. This last bit seem to be a more recent argument. It would appear the “experts” in this camp have been winning the argument. However, it is plain to see the UN, IMF and WB are helping very much in all these areas, helping to bridge the gap and move Iraq into an era of security, political stability and economic well-being.
Alghadpress.com
BGG ~ Though this piece was likely a “re-hash” of sorts, it has some more recent lingo added. Which lends some credence to it’s veracity. It is likely they just added some lines, rather than go back and re-write the whole subject in a current article.
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Breitling (Dinar Guru) – …What’s the number 1 thing that could delay it [The RV]? It’s oil prices going up…If the price per barrel goes up then Iraq can delay the RV coming down the road…what are the windows? It changes. …I have absolute confidence in the value of the Iraqi dinar. Let’s say oil prices go up and it delays it…You have confidence? Yeah, absolutely! 100%. Nothing is going to change that. It’s the timing that might deflect it here or there but that’s not going to change it. It’s simply not going to change it….
Read more: http://www.dinarupdates.com/observer
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IMF Staff Concludes Visit on Iraq
September 28, 2017
“End-of-Mission press releases include statements of IMF staff teams that convey preliminary findings after a visit to a country. The views expressed in this statement are those of the IMF staff and do not necessarily represent the views of the IMF’s Executive Board. This mission will not result in a Board discussion.”
The Iraqi authorities and the staff of the International Monetary Fund (IMF) held discussions in Amman from September 17 to 28, 2017 on the third review of Iraq’s 36-month Stand-By Arrangement (SBA). The IMF Executive Board approved the SBA on July 7, 2016 (See Press Release No. 16/321), and completed the second review on August 1, 2017 (See Press Release No. 17/311).
At the end of the mission, Mr. Christian Josz, Mission Chief for Iraq, issued the following statement:
“The Iraqi authorities and IMF staff started discussions on the third review of the SBA and made good progress towards reaching agreement on a draft 2018 budget in line with the SBA. These discussions will continue during the upcoming IMF and World Bank Annual Meetings from October 13–15, 2017 in Washington, DC.”
“During the visit, the team met with the Acting Governor of the Central Bank of Iraq (CBI), Dr. Ali Mohsen Ismail Al-Allaq, Acting Deputy Minister of Finance, Dr. Maher Johan, , and officials from the Prime Minister’s office, ministries of finance, oil, planning, and electricity, the State Oil Marketing Organization, the Central Statistical Organization, the Central Bank of Iraq, and the Board of Supreme Audit. The team would like to thank the Iraqi authorities for their cooperation and the open and productive discussions.”
Imf.org
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Stryker (Dinar Guru) – There has been a lack of news this weekend pointing to any possible revaluation of the Iraq dinar for today (October 1, 2017). So for those that are looking for a new rate to be announced today or tomorrow I’m afraid it’s just not going to take place until we see that the CBI Law amendments are passed. Our newshounds are watching for Tuesday’s parliament agenda publication to confirm that the vote is going to take place then. [post 1 of 2….stay tuned]
Read more: http://www.dinarupdates.com/observer
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Kurdish appeals to try “Barzani”
BAGHDAD (Reuters) – Kurdish human rights activists appealed to the United Nations to turn the head of the Kurdistan region, Massoud Barzani, to justice, to be tried for his crimes.
“We, a group of human rights activists, call on the United Nations to implement the laws (Geneva 1949, The Hague, 1907), which, in turn, charges war crimes and crimes against,” the agency said in its report to the UN Secretary-General. To the “Massoud Barzani,” the American-Zionist ally, and call him to justify the cause of his party’s battles with other parties, the killing of more than 4000-8000 fighters and a Kurdish citizen.
This is a list of some of the crimes “Barzani”:
1 – causing the outbreak of civil war, and the dissemination of false news about them, causing the death of 4000-8000 Kurds, the displacement of 20 thousand citizens, and a huge number of shocks and distortions.
2 – causing political disintegration during the civil war, and the proliferation of kidnappings, torture and violence. As well as violations of women’s rights, religious freedoms and the flow of education.
3 – failure to provide the requirements of the medical people.
4 – The destruction and desecration of Kurdish cultural heritage.
5 – The seizure of land and property of citizens.
6. – Dealing with prisoners in a repressive and inhumane manner, such as physical assaults, torture, prohibition of drinking and food, medical aid, as well as threatening families of prisoners, and telling them false stories about the execution of their detained children.
The letter also said that the above-mentioned violations are, according to the UN human rights law, war crimes against humanity. Stressing the need to prosecute Barzani and turn it into the Supreme Court.
aljournal.com
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Stryker (Dinar Guru) – It is worth noting that the CBI has not posted a daily auction for tomorrow (Monday October 2, 2017) and was performed today, as they have been doing but it’s also worth noting that today was a holiday in Iraq (Ashoura Day). In the past few months the CBI has held earlier auctions to cover any future holiday but not this time. Just in case I will be up late tonight to see if there is any changes in the IQD from an exotic currency to a hard currency status. [post 2 of 2]
Read more: http://www.dinarupdates.com/observer
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Barzani is isolated and lives in a psychological crisis after the referendum
Baghdad – Journal News – The Iraqi coalition forces rejected the “Sunni Arab component” to establish a state that is not supported by local, regional and international, except for Israel in the north of the country. The Kurdish political source said that the head of the Kurdistan region (outgoing) Massoud Barzani is living a difficult psychological situation because of Baghdad’s unexpected positions after the The referendum.
“The Sunni component strongly rejects the establishment of a Kurdish state in northern Iraq and also rejects the expropriation of land from the Nineveh Plain and other areas and forcibly annexing it to Kurdistan,” said the alliance’s deputy, Nasr al-Jubouri.
Jubouri ruled out “a military solution to end the crisis of the Barzani referendum and can not end the crises by a military solution.”
A Kurdish source said that the head of the Kurdistan region (outgoing) Massoud Barzani is currently living in a Kurdish internal crisis and international condemnation of the referendum, despite warnings and international rejection.
“Barzani is living a political siege at the local and regional levels and is waiting for a miracle to save him from what has become a hidden fate for Kurdistan because of the referendum,” the source, who asked not to be named, told the Journal News. “Barzani is living in a psychological crisis now and he has chosen to remain silent and is isolated from the political environment except for those close to his party leadership,” he
Aljournal.com
BGG ~ Though this is a pretty serious indictment on his situation, I am skeptical his “ship is sunk”. I agree in this regard though, I don’t think this was exactly the response he had hoped for “post-referendum”…
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9/26 – Recorded Call Replay Link
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The Central Bank prevents four Kurdish banks from entering the currency auction
An official source in the Iraqi banking sector, on Thursday, that the central bank decided to prevent the entry of four Kurdish banks from entering the currency auction.
The source said that “the Central Bank has decided to stop the banks of Arbil and the commercial region, and Jihan and Kurdistan from entering the auction of currency within the financial sanctions on the Kurdistan region.”
The source added that “the Central Bank stopped the system of remittances with the Kurdistan region,” noting that “these sanctions are part of the sanctions carried out by the government.”
waradana.net
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Post RV Checklist (it’s getting to be that time!! Listen up!!)
Dos and Don’ts of Windfall Wealth:
Treat it like a PowerBall win
– Tell no one, not even family. If you must talk, do so with one who is already in the know.
– Don’t run out & buy new “stuff”. People notice.
– Get an unpublished number and give it out very sparingly.
– Get a tax accountant you can trust to make sure the IRS is satisfied (Certified Opinion is something to look into) and pursue asset protection…
Read Complete List: http://www.dinarupdates.com/showthread.php?18519-The-Post-RV-Checklist-and-Flashback-documents&p=128477#post128477
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