Chattels – Dinar Guru   For a parliament session to obtain a quorum, half plus one of its members must show up to vote — which is 168 members. Half plus one of the attendees must vote for the Cabinet to approve it. This means Shiite parties can hold the parliament session or make quorum without the Sunni and Kurds, but today there were Shia defectors also and even if the Shia can muster quorum and decision without the support of Sunni and Kurdish parties will add to an already divisive situation in Iraq , in my view.

Vital Brad – Dinar Guru    Article “Iraq fails to form new government, prolonging crisis“.   They were supposed to meet on Thursday.
Allawi showed up.  About a hundred members of parliament showed up and they couldn’t get the job done…Allawi wants to put in what’s called technocrats.  People that aren’t necessarily associated with a party…To try to get rid of this corruption…Allawi is really doing what the people of Iraq want.  They want that Iranian influence out and by him coming in and putting a cabinet of technocrats or basically independents in potentially could take away that corruption…If he doesn’t get it done by March 2nd, we’re talking Monday, then his time’s up...They’re supposed to meet tomorrow.  They’ve got to get it done tomorrow [By Monday at latest] otherwise Allawi’s out.  What does that mean?  This thing could get dragged out…

Dinar Investor – Jeff  …since the beginning of the year I basically said…Iraq would take their sweet time because they really had nothing left to do and that’s playing out tremendously within the formation of the government…they are milking the formation of the government.  IMO though the formation of the government is done.  Complete.  I really wouldn’t worry about it…we’re at the end of this ride…it’s all coming together right before our eyes…

MilitiaMan – Dinar Guru   Article:  “The central bank clarifies the administrative framework for financing imports and the mechanism for selling foreign currencies”  Quote: “It also clarifies the process of collecting and sterilizing the local currency considering that this bank represents the monetary authority in Iraq.”   The act of sterilizing the local currency is a practice by major global players. It appears the CBI is preparing or is now prepared to defend their currency in world markets.. Something that the CBI has now been told to the world that they are now obliged to play by the IMF Rules.. imo.. Very good indeed imo.

Kaperoni – Dinar Guru   …one...They [CBI] are a professional organization utilizing professional techniques to manage and control the financial system in Iraq.  Two, there is to much currency in circulation. Three, Iraq’s total mineral net worth is 15 – 16 trillion dollars. At the current dinar in circulation, a 1 to $1 RV would completely bankrupt the country literally 3 times the entire worth of minerals including oil. Four, such an event would completely throw the entire financial system into chaos in Iraq. Five, monetary policy is a group of tools that support the demands of the financial system.  A RV or RI completely circumvents that process. For example the CBI generates revenue from the buy/sell of currency. It also reserves the right to raise or lower the value to counter inflation or deflation from time to time if needed. A RV would not only create chaos, but would prevent the usage of those tools. And lastly a currencies value is determined by market forces. Not some random or arbitrary value. That is 6 solid reason the dinar could never and will never will RV/RI. Our only hope is a gradual appreciation directly related to the success of the private sector/market economy.

Mountain Goat – Dinar Guru   So the drama of the ratification of Allawi to take the seat of the prime minister continues. We expect this to happen this week, probably Thursday. Then things should move quickly in Iraq.

Adam Montana – Dinar Guru   [We should then be looking at a fully formed government which is a requirement for the rv to occur.]   It’s not a stated “requirement” by any means, but it is hard to see it happening without it.  I don’t think we need a “fully” formed government. 80-85% will do.

Chattels – Dinar Guru  Article quote:  “The deficit is very large and can be overcome only through three axes. Either reduce operating expenses to a very large degree, especially the item of allocations and benefits, or resort to taxes. This is also a very big burden on the Iraqi people, or external borrowing, and this also bears the weight of future generations. “.  No mention of deleting the zeroes or ” RV ” as a solution/remedy.  Frankly, I would not expect any news or advance notice of such an impactful economic event(s).

Whitelions – Dinar Guru   … lets see what the cbi does when the cabinet is voted in…it looks like that will be very soon. The CBI is ready …the work that is starting in the country is demanding it…not just the protesters but the contractors that are coming in are expecting it…not just the us but every country wanting to work in the country and the good thing is Iraq is being very picky about what country’s it will do bis. with because they know they can…everybody wants a piece of this pie…but If I have to guess it would be with in the next 2 to 3 months…

Tman23 – Dinar Guru   …Kap posted the other day…16 trillion in whats in the ground…150 billion barrels… has been now just quadrupled…when that number 16 trillion was released…Trump in 2012 or there about tweeted…“US deficit 16 trillion and Iraq valued worth 16 trillion…INTERESTING!”…there is a plan here and it definitely is not Kap’s market economy force…

Whitelions – Dinar Guru   …they will never ever post that they are going to change the rate of their currency, BUT we have all been in this a long time and can follow what and how things are going in that country …

Vital Brad – Dinar Guru  …Part of me does feel like they will come out at a low rate…just throwing a number out there let’s say 10 cents, something like that just to get back on the international market and get rid of some of the amount of the Iraqi dinar that’s out there…get some people to turn in their dinar at a lower rate.  I believe it can float up to a higher rate…Kuwait’s currency right now I believe is around $3.40 and Iraq has much more oil reserves than Kuwait…there’s no reason IMO they should be lower than Kuwait.  So I think it’ll get up there.

BGG ~ I disagree with this “interpretation”… for context, here is a reprint of the actual LA Times article from 1994. Here is actually what happened with the Kuwaiti Dinar, no internet hype…

FLASHBACK –  Crush Expected When Kuwaiti Banks Reopen Today

March 24, 1991|From Reuters

KUWAIT CITY, Kuwait — Thousands of Kuwaitis are expected to jam the country’s banks today when they open for the first time since the end of the Iraqi occupation.

Customers will be allowed to withdraw funds and to swap pre-invasion money for a new currency issued to make more than $1 billion in pre-invasion dinars stolen by the Iraqis worthless.

“We expect a rush of people,” said Issam Asousi, an executive with the Bank of Kuwait. He said it could be a chaotic first week because customers have a lot of questions about their accounts.

Kuwaiti banks continued operating during the seven-month Iraqi occupation under managers brought in from Iraq, but they have been closed since the U.S.-led alliance ousted the Iraqi army from Kuwait a month ago.

When the banks reopen today, customers will be able to withdraw up to 4,000 Kuwaiti dinars, equivalent to about $14,000 at pre-invasion exchange rates from their accounts, and to exchange a like amount for foreign currency.

Balances of customers’ accounts will go back to what they were on Aug. 1, a day before the invasion.

Clients will not be able to exchange Iraqi currency issued during the occupation, when Baghdad pegged the rates of the strong Kuwaiti dinar to the far less valuable Iraqi dinar.

The new Kuwaiti money will be exchanged for old at a one-to-one rate.

https://articles.latimes.com/1991-03-24/news/mn-1395_1_kuwaiti-banks

Frank26 – Dinar Guru   ...I would like to believe that it’s true that President Trump has given them the date to stop using the American dollar in the auction and I believe that they have committed to it.

Francis Albert – Dinar Guru   Currency investors here. Take heart. Regardless of what some “Never Dinarians” are writing lately…remember it is easy to argue any point when the fine points are not in the talk. I have studied these “money” matters for many years. And, to that end, anyone who argues that Iraq is not going to somehow, someway, someday go international and raise the value of their currency is simply not looking closely. Do I think It will suddenly pop up to some mythical $3.50 range overnight? Possible, for the Iraqi Dinar has years of history in this territory. So, a reinstatement is possible. If I were a betting chap I would say it comes out at .86 on Forex and makes a speedy dash higher.

Dinar Investor – Jeff  …What this is is a reinstatement.  The phrase “RV”, that phrase “revaluation”, all that was fabricated from this investment.  That phrase never existed.  “Rate change” existed but not “revaluation”.  This is a reinstatement.  That means they have to bring back a former rate.  I’ve studied the value of Iraq’s rate through the last 100 years.  The low side was about $2.80 and the high side was about $4.20.  The point is they’ve never had a $1.00 rate to reinstate… Iraq ‘s currency devalued at $3.22 in about 2004…

Kaperoni – Dinar Guru …nothing has happened politically in the last few months as of yet the new prime minister hasn’t even been sworn in and his cabinet has not been voted on.  In fact it has been scheduled for Monday but there are rumors that they won’t even vote Monday, that many are now making a decision to not endorse the new prime minister and his cabinet. New protests are even anticipated.

Dinar Investor – Jeff  ...Everything is pointing and circling around the rate change including the approval process of their 2020 budget.  Facts are confirming the last step we’re waiting on is the rate change.  Everything in Iraq has been put on standby including the approval process of the but budget.  It’s all waiting on the rate change…Iraq is literally walking in Kuwait’s footsteps time frame wise.  Kuwait changed their rate on March 24th of 1991…

Chattels – Dinar Guru   Article:  “The Presidency of the Council of Representatives confirmed that an extraordinary session will be held next Monday to vote on the booth of Prime Minister-designate Muhammad Tawfiq Allawi.”   Quote:  “The House of Representatives is obliged to hold an extraordinary session next Monday to give confidence to the next government, according to the invitation of the resigned Prime Minister, Adel Abdul-Mahdi,“

Dinar Investor – Jeff   …what is Iraq doing?  Right now they’re telling us they probably believe next Monday they’re going to finish and approve the cabinet and/or the full government.  That would be the new Prime Minister Allawi’s government.

MilitiaMan – Dinar Guru   Article:  “Disclosure…enhances the value of financial institutions locally and internationally”   …They are seriously speaking of value. Well if they are going to get linked with the International Community and even with the NASAQ, the values of these companies will need to be transparent and have real value… The NASDAQ has rules and they need to be followed, just as there are rules for Market Makers and the pricing of the shares. Same would hold true with the Forex, I suspect too. This is a very good sign…

MilitiaMan – Dinar Guru    Article:  “The central bank organizes a lecture in Mosul on financial inclusion”   …the above Mosul training was done days ago…imo… They speak of training at a very high level of internationalism. The CBI Statistics website has the stats on many things that facilitate money movement globally. They have the training parameters in place and or done by now through the managerial levels… Next step is the tellers.. Most likely that is or will be down to the last few hours and or last minutes… imo.

MilitiaMan – Dinar Guru “Regular meetings now between CBI Board, IMF, AMF and UST.”   For them to be having meetings with those four should assure us that this is coming together so very well and orchestrated to be in synchronization with the new PM and his fresh independent cabinet even with the ISX to down to bank tellers. The four Global Enities would be the ones to give the guidance to the CBs, Private Banks and then down to the bank managers, as they will need to know what to teach the tellers. They’ll need to know what to tell the citizens about the value and the longevity of the coexistence of the varied currencies they will hold for what ever period of time they decide. That is effectively end game for us when that happens.

Adam Montana – Dinar Guru   Article:  “Newspaper: Allawi chose 3 characters for each ministry and placed the ball in the parliament stadium”  Quote:  “Allawi chose 57 characters, 3 persons for each ministry, which means that he put the ball in the parliament’s court by not requiring one person for each ministry because if he rejects it, this may affect the entire government formation.”  The only concerns I had with Allawi have been covered – I felt like if he was going to be ousted or “convinced” to resign, it was going to happen quickly. Like, “within the first week” quickly.  We are well beyond that, and the “backups for the backups” says they are getting things donnnneee! “You don’t like that choice? FINE, here’s another one. And another!

Mountain Goat – Dinar Guru    Article:  “DEPUTY: 90% OF THE CURRENT REPRESENTATIVES WILL NOT RETURN TO THEIR SEATS IN THE UPCOMING ELECTIONS”   Quote:  “DURING ITS SESSION, ON DECEMBER 24, 2019, THE HOUSE OF REPRESENTATIVES VOTED ON THE ELECTION LAW LEGISLATION”  So here it is in black and white. The Iraqi election law was already voted on and passed in parliament. …So why is the news media telling us they still need to do this? This again is a FAKE spin on the news. They want to confuse and stall everything indefinitely. The real reason why they can’t yet implement it is they need candidates for the early elections and also they will need a way to prosecute the corrupt that will be taken out of the government. Already Iraq has hired consultants to come into Iraq to help clarify the procedure to run this new type of “open” election process. They are working out the details and will be successful.

MilitiaMan – Dinar Guru    Article:  “Deputy: Karbala’s 2020 budget is devoid of new project”   [How can there be an RI when there is such a large deficit and no new projects?] I think they are about to change things, as this suggests they have the 2019 budget which, imo would reflect the FML amendment that will facilitate the new rate we expect to precede the 2020… Thus, they seem to know already that there is a big change coming...imo ! This is a good one!! ~ imo.

Adam Montana – Dinar Guru  …You may have noticed a lack of chatter about “protesters” over the last week or two…that’s just one of the topics that has quietly just left the news. Of course we don’t see anyone making a big deal out of positive news, because that’s not the kind of stuff that sells newspapers.  But it IS the kind of thing we want to see, because it’s what is going to lead us to a higher value on the Dinar. Allawi is building a foundation, the pieces are falling into place, and I have nothing negative to report.

Mountain Goat – Dinar Guru   Article:  “WORLD BANK INFORMS IRAQ THAT ITS FINANCIAL SITUATION IS IN DANGER, ESPECIALLY WITH REGARD TO SALARIES OF STATE EMPLOYEES”   Like I said before, if Iraq missing this opportunity this time there will be no other opportunities. The trend is to move away from oil based economies and wealth is short-lived. They should have already rebuilt their country ten times better than it was before. But instead they pissed the money away to Iran to support terrorism. This only made things worst off in Iraq and in the middle east in general. Now they have to do these reforms or else! One of these reforms is the project to delete the zeros which leads to the reinstatement thus our RV.

Pimpy – Dinar Guru  …when Trump was at Davos the chairman of the World Trade Organization told everyone that he was working with the Trump Administration and they were gonna be implementing new policies when it comes to currency manipulation.  This is good.  We want this especially if you’re holding Vietnam dong.  Where it goes to nobody knows…The Iraq dinar is in a whole different situation…this new rule is getting ready to come in effect.  I believe it is in March…I think we’re gonna see some currencies change here shortly.  How much I don’t know.  Will it happen before the rules are implemented?  I don’t know.  We’re gonna find out…

MilitiaMan – Dinar Guru   Article:  “Deputy: Karbala’s 2020 budget is devoid of new projects”  They have told us in recent past that they finished the 2019 Financial Management Law with an Amendment to it, that is to facilitate the 2020 budget. Sounds to me like this is suggesting they have what we are waiting on and that is the rate to which they will use to fund the projects… I suspect that they can’t keep this tiger held back much longer.   I also suspect leaks will emerge!! imo.

Mountain Goat – Dinar Guru  So…last Wednesday Feb 12th, we read that quote – “Muhammad Allawi succeeds in completing his cabinet, away from the interference of the blocs and their pressures”…Did this really occur? …We know for a fact that if Allawi really has the overwhelming support for his new government, as he claims, then he would have already presented the candidates and a vote would have been conducted in a “extra-ordinary” session as they claim they were going to do on Sunday Feb 16th…but now we hear that parliament went on recess and so they can’t even vote until Thursday.  …So where does this issue of getting Allwai and the new government ratified in parliament really stand?  …They are still fighting with the blocks who want the quota system and the corrupt people put in these positions. So recently there was a meeting and they discussed 6 points of contention with leaving the Us military in place in Iraq. This meeting went well. The US is still going to remain in Iraq and have a strong presence. So the US is going to back Allawi and his new government. Now that this is taken care of we will see the progression on Allwai and his new government move ahead quickly.