URGENT The dollar is blowing in Iraq
Foreign exchange markets in Baghdad, on Wednesday morning, a significant decline in the exchange rate of the dollar against the Iraqi dinar.
The market price in the Kifah Exchange in Baghdad was 1220 dinars per dollar, or 122 thousand dinars for one hundred dollars.
The prices of selling and buying dollars in banking companies were:
The selling price of one dollar 1225 dinars, or 122 thousand and 500 dinars, for one hundred dollars.
And the purchase price of the dollar is 1215 dinars, or 121 thousand and 500 dinars, for one hundred dollars.
Foreign Exchange Rates:
EUR World Price: 100 Euro = 123.23
GBP The World Price: 100 Bounds = 139.85 $ The
Turkish Lira The International Price: $ 100 = 379.15 Turkish Lira.
Article Credit: http://www.alliraqnews.com (Special Thanks to Tim Tarkington)
BGG ~ Listen folks, this is good news. The Dinar is getting stronger. It is harder to get (over here), the price is going up and the exchange rate is better over there (for us). None of this is bad. It is all good.
______________________________________________________________
Erbil-Baghdad Agreement Imminent
ERBIL — The Kurdistan Region and Iraqi governments are close to reach an agreement over their disputes in the nearest future, said a source close to Iraqi Prime Minister Haider al-Abadi.
The high-level delegations from Erbil and Baghdad are due to resolve the differences over Kurdistan Region’s airports, customs and border lines, the source told Shafaq News.
He further revealed that the Kurdistan Regional Government has already agreed with most of the points in the political deal, the rest would remain under discussion.
Iraqi Prime Minister Haider al-Abadi said earlier the day that Erbil and Sulaymaniyah airports would soon be re-opened after over four months since Baghdad imposed a flight ban on the Kurdish region.
Article Credit: basnews.com (Special Thanks to Tim Tarkington)
______________________________________________________________
______________________________________________________________
Central Bank of Iraq Auctions $194,883,291 on 22 February 2018
Baghdad (IraqiNews.com) The Central Bank of Iraq (CBI) currency auction on February 22 registered $194,883,291 in sales, a 10.90% volume increase from the US $175,734,132 sold by Iraqi Dinar, credit and transfer at the previous auction held on February 21.
The latest auction was attended by 45 banks and 9 remittance companies. The same institutions attended the auction held on February 22 compared to the previous auction.
Data for the February 22 auction was made public by CBI Announcement Number 3641.
Dollar sales in the in the period January 1, 2018 to February 22, 2018 saw an increase of -1% compared to the sales of US $5.57 billion in the same period in 2017. The total amount of US currency sold by CBI in the calendar year 2017 was US $15.7 billion.
An analysis of the monthly dollar sales by CBI since January 2016 reveals highly fluctuating volumes. During the period from January 2016 to February 2018, sales of US dollars averaged US $1.81 billion per month. Peak volumes were reached in May this year when sales touched US $2.3 billion.
Article Credit: https://www.iraqinews.com/business-iraqi-dinar/central-bank-of-iraq-auctions-194883291-on-22-february-2018/
BGG ~ I will continue to highlight the regular auctions. After recently asking around about the reasons for the “tightening” of the supply of Dinar in the U.S… one of the main reasons I got was the fewer and fewer auctions. Wait – what?!? They are still having fairly robust auctions.
So, obviously, that’s not true… so what is it?
Another possibility is this MASSIVE financial embargo on Kurdistan, provided this was where currency was coming from.
I have also heard of a couple of major players talking about having money in – or being able to get money out of Kurdistan… all baloney. Kurdistan has been under very tight controls since snubbing the world diplomats with this sham vote pushed by Barzani.
Why was it a sham vote? Simple fact: you can’t just take what isn’t yours to take just because you vote on it.
Back to my previous rebuttal – anyone who actually had money in Kurdistan would have either gotten it out or is REALLY “up a creek”… likely just more B.S.
So…
1) Fewer auctions?
2) Tightening borders (fewer exports)?
3) More demand? I sincerely doubt it.
4) IMHO and most likely, the supply here in the U.S. from disgruntled sellers, which is likely where the bulk of the U.S. supply really comes from, and current interested buyers has finally reached a point of parity where the “supply – demand” scales are more evenly balanced.
Hence, the price goes up.
______________________________________________________________
The date of voting on the budget of 2018
Baghdad News – A member of the Finance Committee of Parliament Mahasen Hamdoun, said Monday that next Tuesday is the date of voting on the budget in 2018.
Hamadoun said in a press statement that ‘the Finance Committee continues its meetings to discuss the budget and will not clear things, only on the day of voting on it’.
“The vote on the budget will be next Tuesday,” she said, stressing that ‘deductions of salaries of employees stopped in the budget’.
“The Finance Committee is meeting today to complete the discussions and will not show the picture only in the voting session on the budget,” adding that ‘the proportion of the region will not change and the members of the Kurdistan Alliance did not attend to discuss the budget so far, so the situation remains as it is.
Read More: http://www.dinarupdates.com/showthread.php?56313-Disclosure-of-the-date-of-voting-on-the-budget-of-2018
______________________________________________________________
Kaperoni (Dinar Guru) – Article: “Source: The increase in the depreciation of the dollar against the dinar due to the actions of the Central Bank” …the Market Rate will never be less than the Official Rate at the CBI. And the CBI cannot stop the auctions until there is an alternative for international commerce. I believe I am correct, the 2% rule is calculated off the Official Rate plus CBI commissions (1182 + 8 dinar commissions X .02 = 23.8) which puts it at 1213 to $1. How long the CBI must wait may be subject to IMF review. We know they were not giving them an exception on the spread, but they may give them an exception on time (90 day rule) due to the urgency of maintaining stability and encouraging investment.
[Based on Kaperoni’s 8 dinar commission rule some feel the percentage difference between the official rate and market rate needs to be 1214 to meet the IMF 2% stipulation. However, no one seems to be clear on how to calculate the number – opinions range from 1203 to 1214]
BGG ~ P.S. I did tell Kap this would happen. When they are ready, like it or not, they will make what exceptions they have to and BOOM – there it will be!!
Read more: http://www.dinarupdates.com/observer/
______________________________________________________________
Randy Koonce (Dinar Guru) – All the ‘gurus’ have watched since the first of the year for the RV to happen. What we have all learned is that the revaluation of the Iraqi Dinar has become the biggest political football in history. And that is why we are still waiting. However, it appears that the time has come for Abadi to finally step up to the plate. Based on information I am receiving, we believe that the RV will (should) take place within the next 2 weeks. Great pressure is being brought to bear to make this happen. Everyone – including the people who can make this happen – are tired of waiting for this to happen. And ‘they’ are pushing. So. We are in a 2 week window. Right now. [post 1 of 3]
Read more: http://www.dinarupdates.com/observer/
______________________________________________________________
Corruption fears prevent the World Bank from handing over the money of the Kuwait conference to the Iraqi government
A member of the Committee on Economy and Investment Representative Amer al-Fayez, Sunday, that the news that talked about the condition of the World Bank on the survival of the funds of the donors conference under his supervision is expected, indicating that Iraq is globally diagnosed high corruption index and therefore there is fear of handing over money.
Al-Fayez said in a press statement that “the subject of the World Bank’s requirement not to hand over the funds of the donor conference to the Iraqi government and keeping it under his supervision in the disbursement of investment companies that aspire to the reconstruction of Iraq is expected,” pointing out that “at the beginning of the donor conference in Kuwait, To deposit money in the Kuwaiti bank and disbursed in the form of payments to investment companies. ”
Adding that “this is expected because Iraq is diagnosed by the countries of the world high corruption index in this and led to loss of confidence in Iraqi institutions.”
The Economic Committee in the Iraqi parliament, earlier, that the loans granted to Iraq at the International Conference on Iraq Reconstruction, amounting to about $ 27 billion, will weigh the “burden” of the budget.
The Kuwait International Conference for the Reconstruction of Iraq began in Kuwait on Monday, 12 February 2018, and lasted until the 14th.
Article Credit: Basnews.com
______________________________________________________________
Randy Koonce (Dinar Guru) – …there is a very real reason why the RV has not happened years ago. So, some history…One of the things that we learned was the fact that Obama was never going to let it happen as long as he was president. We learned that half of Obama’s cabinet wanted to release the RV and the other half agreed with Valerie Jarrett, who did not want anyone in the US to participate in this blessing. …So, between Maliki’s regime and Valarie Jarrett’s influence over Obama, the previous eight years were a total waste of time from the RV standpoint. Now that Trump is in office, he very much wants this done, but does not want Iran to benefit. President Trump is working hard to get this done, because he knows many of us are holding dinar, and wants to allow us to bless and grow the economy of the USA. You’ve probably heard the phrase…Make American Great Again? [post 2 of 3]
Read more: http://www.dinarupdates.com/observer/
______________________________________________________________
Randy Koonce (Dinar Guru) – In addition, it is being rumored that Abadi has been trying to solicit money from various countries, in return for Dinar. But, some of that money would go to him, and not Iraq. If true, this may be the reason Abadi has been dragging his feet on ‘pushing the button’. He could be wanting to make one last attempt to feather his own nest a little better. However, not only the Trump administration but these other countries as well, are putting tremendous pressure on Abadi to get this done…Or Else! …In the event that we do not see this finished in the next 2 weeks – don’t despair. They do not have to wait for another year. This will get gone – this year. …the best thing we have going right now is a Very – Determined – President. We are close…Every large bank will exchange…RELAX the RV is coming…Check www.cbi.iq every day to see if it has changed…Breathe… [post 3 of 3]
Read more: http://www.dinarupdates.com/observer/
______________________________________________________________
Government sources: 6000 cases of corrupt officials, of which about 3,000 have not been completed
A total of 6,000 cases of corrupt officials have been brought in by former and current governments, of which about 3,000 have not been completed, government sources said on Sunday.
The sources revealed in a statement that the government and parliamentary oversight bodies are subject to political pressure, which hinders its work and its ability to hold the corrupt accountable.
In this context, the spokesman of the Supreme Judicial Council, Abdul Sattar Birqdar, acknowledged that the recent amnesty law allowed Fasdeen to escape punishment.
“There are corrupt people who have been convicted of judicial decisions and sentenced them in accordance with the law, but they included the general amnesty law legislated by the House of Representatives,” Berkdar said.
Read More: http://www.dinarupdates.com/showthread.php?56314-Government-sources-6000-cases-of-corrupt-officials-of-which-about-3-000-incomplete
______________________________________________________________
Some interesting headlines…
Deputy calls for the formation of an international coalition against corruption in Iraq
Council of Ministers adopt recommendations to ensure a sound investment climate in Iraq
For these reasons, the Marshall Plan is not implemented in Iraq
______________________________________________________________
Float the Iraqi dinar and stop the auction currency is the only solution of the Iraqi economy.
Under Conference : Kuwait , the results of which are discouraging to solve the problem economic Iraqi especially after the devastation resulting from the grinding war on terrorism must think of radical solutions and take advantage of other peoples experiences
I want to point to the experience of two states at the time Alhadrohee experience Masrafiqirh powered and experience its Vnzula oil – rich experience sister bank to float the Egyptian pound in 2016, which produced Mayati after only one year of floatation first year float ..
Egypt stronger “numbers” after the liberation of the exchange rate .. cash reserve jumps from 19 to 36.5 billion dollars .. and $ 56 billion to save imports .. and $ 13.7 billion Surplus payments .. and 17.3% higher transfers abroad…
Float the currency , ” an economic term means that the exchange rate against the dollar or any foreign currency away from any interference from the government or the central bank in determining its price, and the associated value of supply and demand
Yes to float the Egyptian currency has led to decrease the price of the pound against the dollar from about 9 to 17 but still the state provides the necessary materials and medicines for citizens did not increase the rate of poverty with the knowledge that Egypt imports most of its need – oil from abroad , which is a very large Obeie
Second example is the state of Venezuela , the state is very rich in oil and is now on the verge of bankruptcy where the conduct of its economy in a similar manner to what is in Iraq at the time of The present and the currency “Venezuela” is now at 3 prices for the exchange, according to the price of central bank exchange rate, the price on the black market, the price used in exports with a large corruption in the work of the Central Bank of
Iraq is on its way with no doubt the Venezuelan example , that measures and radical reforms are similar not taken what happened in Egypt with a big difference to Msalkhh Iraq and hwan Iraq earned from oil exports in the month of December 2017 will alone $ 4-6 billion means about 76 billion Dola year benefits desired from the floating currency with some Alajrouat that resemble Maatkhzth Egypt with the presence of transparency
will increase the central bank reserves amounting up to more than 40 – 50 carefully Dollars in one year
(Masrasttaat increase the central bank ‘s reserves by more than 16 billion in one year) and can this amount available start for major energy projects and water desalination projects , agricultural and construction of hospitals and factories and by international companies sober and will pay for these projects from oil imports without waiting to on foreign investment and this process will provide hundreds of thousands and even millions of jobs for unemployed Iraqis
( the foreign investor foreign workers will come more often , as happened with the oil companies) and foreign investor even if it came at the present time will benefit from the auction sale of the existing currency is currently the result The damage to the Iraqi economy as is the case with mobile phone companies, but if you stop the auction currency impact will be in the interest of Iraq , even with foreign investor
What damage the possible risks in the case of the floating currency of course there is a risk of low currency Iraqi, but for employees who exceed their income from $ 1000 will be the damage is limited and only at the beginning and only the value of purchasing materials perfectionism but will be offset by electricity, hospitals, medical equipment, medicines, roads, water improvement and card Altamonah and there is a potential for a greater number of family members are more job opportunities, but when you start the economy and Planter plants Iraq U – turn will be a drop in the currency news out of date
this process can reduce the rampant corruption and companies unreality It is possible that the Iraqi economy turns into one of the largest developing economies , and
in any case can go back to sell the currency once again after a year or two years if it was not written for this process success and I do not think the piece and the people of Egypt Asalo
BGG ~ Some interesting stuff out there right now…
As I talked about, with the send-off Abadi got at Davos, I had figured this Kuwait Conference wouldn’t go quite the way everyone was thinking. I said as much.
There wasn’t much in the way of “hand-outs” directly to the government of Iraq. There were some commitments and some direct loans (if they want them).
However, loans will weigh down their future budgets (is their concern)… I get the impression they were mainly after free money.
Oh well…
On the other hand, I am still encouraged. In fact, this recent article:
…”Float the Iraqi dinar and stop the auction currency is the only solution of the Iraqi economy”…
…shows us a couple of things:
1) While there seems to be some resistance – from somewhere in the GOI to a move with the currency, where that is or why it is, I am unsure…
2) …there also appears those on the other side of the fence, I am assuming those opposed to corruption and the corrupt processes… are putting pressure on the first group to do something, other than just fish around for free money. Such is noted in the above article.
On a side note, and relating to “fishing around” for free money… there did appear to be something of a start to rounding up corrupt political figures in an effort to reclaim “ill-gotten gains”. As an additional note: Reported in Baghdad recently, it is implied such a push must include Maliki and his henchmen if such a move is to be recognized by the world (and Iraqis) as a genuine effort.
While a float may or may not be what they (or you and I) had envisioned, they just may well do something like this before they do nothing at all. Like I have said all along – I don’t really care how it starts… just that it does and they GET TO IT!!
______________________________________________________________
Click this link to join the DU “private” FaceBook Group…
https://www.facebook.com/groups/571383766355188/
(go here and ask to join… then add some Dinar Friends!!)
______________________________________________________________
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
______________________________________________________________