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Word for the day…
Proverbs 16:20 (NKJV)
20 He who heeds the word wisely will find good,
And whoever trusts in the Lord, happy is he.
Heavenly Father, thank You for Your Word, The Bible! We trust in You, Lord! In Jesus Name, Amen.
Mrs BGG
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Politics should be the part-time profession of every citizen. – Dwight Eisenhower
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*** Current Posts ***
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BGG – [How long do you think it will take to remove Alalak?] that is the last piece of the puzzle – if you are asking me – doesn’t sound like long…there was also a SCATHING PIECE about Alak being a child and not at all qualified to be the Gov of the CBI. Quite honestly – the happenings in Iraq are breathtaking…there is a lot going on all at once. [The next week will be interesting to see how CBI plays out.] the next week should be very interesting indeed.
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Aggiedad77 – Dr. S will be picked up along the way as a couple of others are shown their exit…speaking of exits…will Maliki get to Tehran…I’m thinking no….too much rides on his going to trial…..if he goes to Tehran it is the same as him vanishing into thin air…Iraq will always be wondering when and where the snake will pop up again and in what capacity…he has done this before…he has trained his entire family to live in such a manner. [post 2 of 2]
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Iraq Prime Minister requests for opening of corruption files of Nouri Maliki & his son Ahmad Maliki
Al Baghdadiya TV broadcasted the following report on Thursday, August 13th citing Iraqi government sources:
Iraqi Prime Minister Haider al-Abadi has sent two letters to the Integrity Commission to have this commission immediately begin investigating on a number of corruption files regarding Nouri Maliki and Baha al-Araji. The most important of these files is equipping the army with weapons, selling foreign currency in the Central Bank and granting loans to the provinces…
Read More: http://www.dinarupdates.com/showthread.php?17486-Iraq-Prime-Minister-requests-for-opening-of-corruption-files-of-Nouri-Maliki-8-14&p=126993&viewfull=1#post126993
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Millionday – [Do you have any idea when they will implement the border tariffs and the International Bonds?] THEY HAVE STATED THIS MONTH BUT THE BEST WAY TO BE SURE IS TO WATCH IT HAPPEN IMO.
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Aggiedad77 – Will PM Abadi actually make the trip to China next week…I don’t think so…there is so much momentum going his way at the moment…he has created a firestorm with his initial round of reforms and they need to [be] pushed forward…plus he has another set waiting in the wings for the proper time…and I’m of the strongest opinion that timing is of the essence right now for him and for Iraq. I think for the next few weeks we will see Iraq kicked into a gear that we’ve never before thought capable for them…and the engineer driving the train will be none other than PM Abadi…he has a list and has checked it more than twice to know who has been corrupt or not…those who were will get a boot from the train. [post 1 of 2….stay tuned]
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Frank26 – Oranges will eventually become…Valuable Apples. [And when will that be...] IMO…If no new rate by Oct 1 st…Then the dinar goes on a Black List.
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Maliki heads to Iran
Tomorrow Press / Baghdad: directed Vice President Nuri al-Maliki, on Friday, to Iran on an official visit during which he is scheduled to meet with Iran’s Supreme Leader Ayatollah Ali Khamenei and Iranian President Hassan Rohani and other officials. Maliki’s office said in a statement received “tomorrow Press,”…Office pointed out that “al-Maliki will meet during the visit, a number of Iranian officials in the forefront commander of the Islamic Republic of Iran Ayatollah Ali Khamenei and Iranian President Sheikh Hassan Rowhani,” explaining that “accompanied by a number of political and intellectual figures.”…
Read More: http://www.dinarupdates.com/showthread.php?17485-Maliki-heads-to-Iran&p=126991&viewfull=1#post126991
BGG ~ He’s not even an official diplomat anymore – right?!?
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BGG – […did I hear…that they are going to vote on all the laws next week?] 1st and 2nd reading of a couple of important laws and support for all the other Biggies to be done soon – is what it sounds like to me. here’s part of the text. “It is said that the House of Representatives yesterday approved the government reforms, and other parliamentary direct legislation laws that the Constitution text on the necessity of legislation and to overcome what stands in general this legislation mechanisms and notably oil and gas law included, the political parties law, the Federal Supreme Court Law, the Law of Treaties, Law the Federation Council, the amnesty law and the laws of national reconciliation, including the National Guard Law”
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Adam Montana – [How does the new Iraqi credit rating help with the possible RV?] It doesn’t necessarily help them to RV, but with that in progress it will do a lot of good for their economy and ability to move forward…especially after they RV.
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Dinar Updates @DinarUpdates Dinar Updates retweeted Hayder al-Khoei
BGG ~ I wonder if he’s coming back??Dinar Updates added,
Hayder al-Khoei @Hayder_alKhoei
Maliki in Tehran for an “official visit”, expected to meet Ayatollah Khamenei & President Rouhani
http://www.ara.shafaaq.com/23777 (Ar)
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firefly – Iraq is HOT, and I’m not talking weather either! I don’t think Iraq can wait much longer personally. They either do or they are going to be in world of hurt! I love the fact that Abadi is able to amend certain parts of the constitution now with the help of American experts…HUGE! I honestly don’t see this going much further down the road. The pressure for completion is ON.
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Millionday – THEY STATED…THAT THEY VOTED IN ALL IMPORTANT LAWS… [So in other words we need to see the NR [National Reconciliation] meeting b/4 the revaluation of the dinar?] THE NR WILL BE IN BAGHDAD AND INCLUDE MANY WORLD LEADERS AND REGIONAL — A SIGNING CEREMONY AND HUGE PARTY IT APPEARS…NOTHING SAYS THE NR WILL HOLD UP ANY CBI MOVES AND THE REFORMS ARE LAW — SO NOT ACCORDING TO WHAT I HAVE SEEN IN INK. [do you think the reconciliation being completed and RV could happen at the same time?] IMO IT COULD HAPPEN AT ANYTIME…I JUST DON’T KNOW WHEN.
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Mnt Goat – Reforms, reforms and more reforms. We see them in the banking sector, security sector, economic sector, area of reconciliation, inter-governmental and international trade (tariffs and customs), etc. Soon they will have to also complete the CURRENCY reforms we have long been waiting for very soon. It’s all coming to an end shortly. Be patient and give them time. Abadi has built up enough incredible confidence enough that they can now rid themselves of Maliki and his goons. Once he is gone they can move very quickly to where they need to go.
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Read More: http://www.dinarupdates.com/
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wmawhite – …you ought to know the reason why PM Abadi is making all of these changes which is primarily cleaning up the corruption. And why is he doing this? Because unless he does the rest of the world will NOT do business with Iraq. If the world will not do business in Iraq then it doesn’t matter what value Iraq put on its currency, it will still not be worth anything. So, you ought to feel very good why PM Abadi is making these changes, it is because Iraq is getting ready to introduce the IQD to the world currency markets.
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Millionday – THE REFORMS BEING PASSED IS GOING TO OBVIOUSLY SUPPORT THE PRIVATE SECTOR AND ECONOMIC REALITY. …REFORMS CAME WITH IMPLEMENTATION OF GOV PROGRAMS AS WELL…THEY EXPECT THE REFORMS TO ADVANCE THE ECONOMY…THEY NEED ALL LAWS FACED TODAY AND TOMORROW TO EXPEDITE THE MARKET ECONOMY AND THE REFORMS COMPLETELY.
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Mnt Goat – Going back in time I also want to remind you that about 6 months ago Abadi asked Dr Shabibi to return to the CBI. However Dr Shabibi gave him a list of requirement in order for him to come back. One condition was for him to be reinstated “officially” and with a public announcement. The second was that he wanted it clear that there would be no more interference by the finance ministry in the duties of the CBI. In other words a clear separation of duties. The third was that he required all his former staff to be exonerated of all crimes. Abadi does not like proxy positions. But in order to seat his government in time a year ago he had to use a couple proxy positions… I believe he is going to clean house in the finance ministry and the Central Bank of Iraq (CBI) next. Remember he was the former deputy finance minister so he knows very well what is going on in these areas. He knows the necessity of increasing the value of the currency and he knows why it has been stalled. But it not all about the currency. It is all about creating an overall political environment where Iraq can prosper. Currency reform is just a byproduct. So what is the main proxy position now being held in the CBI? Enough said… [post 2 of 2]
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Adam Montana – [Months ago Abadi told the world to “hang on” as the value of the dinar would change by June 2015…what happened?] I don’t recall Abadi stating that date, but regardless… they aren’t going to give us an exact date for a major RV. That will happen when it happens.
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Mnt Goat – Over the weekend Abadi came out with some sweeping reforms…the most sweeping reforms…the elimination of the 3 Vice presidencies and their 3 deputy positions. Not only is Iraq saving expenditures but strategically Abadi has set the stage for the next move… There would have to be a constitutional change in order to allow this to happen since these positions are mandated by it. This vote took place on Tuesday and it passed. I believe they are moving towards the “official” appointment of Ayad Allawi as head of the Federation Council and the final demise of Nori al-Maliki since he lost his immunity in this recent move. ALL politicians are no longer sanctioned by immunity and will suffer the full brunt of consequences for any corruption. Maliki and his goons had to be neutralized for any RV to happen. We were told this week there would be yet another set of reforms sent to parliament for a vote on Thursday. I believe this second set of reforms are the laws to complete the Reconciliation Reforms we have been waiting for so long. They will be presenting them to parliament again as a “package” of laws to vote on. Remember we are in mid month August already, the end of 1 year term for Abadi. He had to have all the reconciliation efforts completed in this timeframe. So I do not believe it will take much longer to see this second package of reforms. [post 1 of 2….stay tuned]
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Commercial Solicitation
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Millionday – Article quote: “Chancellor confirmed head of the House of Representatives for national reconciliation and unity Jumaili, Wednesday, that the Parliament has fulfilled its obligations with the consent of government, parliamentary and papers on government reform and implementation.” IT HAS BEEN CONFIRMED FOR THEIR NATIONAL RECONCILIATION—-THAT PARLIAMENT HAS APPROVED THROUGH VOTE — THE REFORMS AND THEIR IMPLEMENTATION… THE REFORMS PACKAGE AND THE PARLIAMENT REFORMS HAVE BOTH BEEN PASSED. [Was the HCL included in these Reform and Parliament Packages?] …WE HAVE NOT SEEN INK STATING THE HCL IS DONE YET.
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Iraq to endorse new investment law next week
The legislation has been seen as a positive move towards raising the country’s attractiveness among foreign investors. Iraq’s parliament is expected to endorse in the coming week the new investment law in the hope of supporting the private sector, attracting more foreign investments, as well as ending corruption and red tape…
http://www.dinarupdates.com/showthread.php?17335-Iraq-to-endorse-new-investment-law-next-week-8-13&p=126793&viewfull=1#post126793
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Mnt Goat – Here now we finally see the wrenching up of the final stages of these reforms as Iraq cleans up the corrupted officials and the unnecessary positions from the inter-governmental ranks. We are also seeing the wrenching up the beginning of the end of the Maliki and his goons…over the last year Abadi has left the people to decide what they want and these recent protests and telling the government what they want. Why is this important? It is important because Abadi would never have had this kind of support in parliament to quickly implement the extent of the reforms he recently proposed without this pressure from the citizens. This is all very good for us and I am now telling you we can expect the CURRENCY reforms and other reforms coming soon.
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Adam Montana – [What do you make of them postponing the implementation of the tariffs at the last minute…?] I am fine with it. They need to revalue the currency, kick up their economy, and then impose tariffs.
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News of the resignation, “Medhat al-Mahmoud,” Chairman of the Supreme Judicial Council
Palm-sources and satellite channels in a flash revealed the resignation of the President of the Supreme Judicial Council and the Supreme Federal Court judge in Iraq, “Medhat al-Mahmoud” from office.
The Iraqi “Baghdad” channel which broadcasts from Cairo, said head of the Supreme Judicial Council and the Federal Supreme Court in Iraq judge “Medhat al-Mahmoud,” resigned from his post for reasons not disclosed by asserting that the demonstrations in the Iraqi street, causing the resignation of many corrupt in senior positions and presidencies…
http://www.dinarupdates.com/showthread.php?17331-News-of-the-resignation-%93Medhat-al-Mahmoud-%94-Chairman-of-the-SJC-8-10&p=126783&viewfull=1#post126783
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Frank26 – In Our Opinion…and mind you there is no desire here to pose a date of any kind…understand that When a rate is finally given…what may be seen is a period of time when brokers will stop selling their currency for a period of time…what kind of time period…no one can really say…it could be dictated by different parameters they are given at that time… special instructions if you will…Maybe as short as a few minutes or an hour up to a day or more...this will be their time to make changes in their web sites and purchase plans to accommodate the new rate. We believe this may be determined to some degree by the amount of currency that has been returned to Iraq at that time, and we know from news articles that money is finding its way back to their banks…the reforms are already at work and money that left under corrupt circumstances is being identified and returned…thinking about this…it is a logical situation that we may or may not notice happening depending on how quickly it is allowed to happen.
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Chattels – […is M [Maliki] in or out?] he is out as far as Abadi is concerned, but I do not think that it is over yet…maybe going, going, but not gone yet is the best description of his current status. Maliki is being referred to as a “former official”. [there saying Abadi giving orders for Maliki to evacuate the palace he was living in.] there is news that former officials are not welcome in the parliament as well.
BGG ~ Respectfully, he’s gone…
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News of the resignation, “Medhat al-Mahmoud,” Chairman of the SJC 8/10
http://www.dinarupdates.com/showthread.php?17331-News-of-the-resignation-%93Medhat-al-Mahmoud-%94-Chairman-of-the-SJC-8-10 … via @DinarUpdates
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Aggiedad77 – Maliki and a former “acting governor of the CBI” could be named in a money-laundering and corruption scheme…the Integrity Commission is investigating these allegations and will be most assuredly prosecuting any and all who are believed to have been involved in the process…Keep in mind that the “former acting governor” that was mentioned was the one that Maliki personally chose after he tried to can Dr. S [Shabibi] …yes eye brows were raised then because of his personal involvement in the appointment…..Maliki’s brand of corruption knows no boundary….high or low.
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Adam Montana – [What do you think prompted Abadi to take such quick action in the bigger scheme of things?] It’s my HOPE that Abadi is getting back into “grind mode”, like he was in the beginning of his term. If you recall how much he accomplished right out the gate after his election, this recent uptick in activity may be an indicator that he’s making big moves again. What he’s doing right now is a great start – get rid of some unnecessary people, simplify the government, and slam that HCL in place. Let’s get it done!
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Dinar Updates retweeted
Reuters Business @ReutersBiz 14h14 hours ago
China yuan weakens for third day, gap between official rate and market narrows sharply
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Kaperoni – I fear that Allaq gets removed and we start over with a new CBI Gov and that means another setback and waiting game. Sure I would like to see him go, but everytime they replace the gov, it means status quo for at least a year.
BGG ~ I disagreed with him (respectfully) as we often do…
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Adam Montana – This week I’m in the same boat as last week… no HCL, no RV. We all know this can’t continue forever… One thing to watch for this week is China. While this isn’t directly related to the Dinar, it’s a good example of how an independent bank or country can do whatever they want to their currency. China has a long history of manipulating the markets via their Bank, and it will be interesting to see how their recent actions play out. Time will tell.
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Kaperoni – [they are suffering over there and need this so very badly.] …maybe so..but you cannot arbitrarly create an exchange rate…dont work that way.
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CURRENCY CODE SELL BUY
US dollar USD 1166.000 1164.000
| CURRENCY | CODE | SELL | BUY |
| US dollar | USD | 1166.000 | 1164.000 |
| Euro | EUR | 1300.673 | 1300.023 |
| British pound | GBP | 1817.444 | 1816.535 |
| Canadian dollar | CAD | 898.790 | 898.340 |
| Swiss franc | CHF | 1194.672 | 1194.075 |
| Swedish krona | SEK | 135.213 | 135.146 |
| Norwegian krone | NOK | 143.308 | 143.237 |
| Danish krone | DKK | 174.298 | 174.211 |
| Japanese yen | JPY | 9.313 | 9.308 |
| Special Drawing Rights |
SDR | 1634.382 | 1633.565 |
http://www.cbi.iq/
Indicative rates – 08.13.2015
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My Ladies – THESE GLOBAL PAPERS [NEW YORK TIMES, REUTERS, RUSSIA TODAY, SKY NEWS, QABAS, BLOOMBERG, ETC.] ARE TALKING ABOUT SISTANI GIVING IMMUNITY TO ABADI AND BACKING HIM PUBLICLY WITH ALL THESE REFORMS. SISTANI TELLING ABADI THE TIME IS NOW TO GIVE THE PEOPLE WHAT THEY WANT AND ALONG THE WAY RID THE CORRUPTION OF THE GOVERNMENT. IT GOES TO SHOW MORE AND MORE THAT IRAQ KNEW WHAT NEEDED TO BE DONE BUT WAS JUST SITTING AND WAITING FOR THE GO AHEAD. SISTANI GAVE THE HEAD NOD AND THINGS ARE ON THE FAST TRACK AGAIN.
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Kaperoni – the key to Abadi reforms IMO is that laws will finally get passed…we should see many laws passed over the next few months…hopefully a basket.
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wmawhite – How great everything is for us. We simply do not know what that one events is or events or that will have the CBI trigger the mechanism that will turn the IQD on to the world. However, we see the numerous indicators that tells us that they clearly intend to do such. [I believe that they want to go back to the pre-war rate.] I agree…they (CBI/GOI) have told the world that is their intent. Keep in mind, that Iraq is rejoining the world economic community…thay are not joining themselves. They need to meet others requirements. They can not make up their own requirements. [I just don’t see how they can implement the Tariffs again without a rate though.] True…the tariffs is one of those indicators that point to purchasing power…the need for it. There are the tariffs, and taxes, international bonds sold on the retail market that require a free moving currency…all are indicators. IMO, Iraq is preparing for something that will permit them to move the IQD onto the world economic stage. When this event is ready they need the tarifs ready, the taxes ready and the bonds ready to go.
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Iraqi Dinar/Dollar auction 13-08-15 (no change – Fri..)
Currency Auctions Announcement No. 3013
This daily currency auction was held in the Central Bank of Iraq on the 13-08-2015
The results were as follows:
| DETAILS | NOTES |
| Number of banks | 22 |
| Number of remittance companies | 8 |
| Auction price selling dinar / US$ | 1166 |
| Auction price buying dinar / US$ | —– |
| Amount sold at auction price (US$) | 229,884,930 |
| Amount purchased at Auction price (US$) | —– |
| Total offers for buying (US$) | 229,884,930 |
| Total offers for selling (US$) | —– |
More: http://dinarupdates.com/blog/
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tman23 – We know for a fact Massoum summoned Maliki and Maliki refused to show……..we know Massoum requested several times that Abadi remove Maliki from his position…….. This has been going on for some time and many articles followed the warnings from the President to Maliki……….. To get 1 article saying Massoum requests Maliki keep his Vice position……….. And usually these articles that conflict are usually out of Sulaimanyia….ekurd !!
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My Ladies – THE FIRST PACKAGE OF REFORMS PASSED IN PARLIAMENT UNANIMOUSLY…AND THERE ARE MORE REFORMS COMING TOO. Article quote: “Prime Minister Haider al-Abadi welcomed the approval of the House of Representatives on the first package of government and parliamentary reforms, “vowing to” continue on this road.” SO THE REGULAR CABINET MEETING IS USUALLY ON TUESDAYS BUT THIS WEEK THE CABINET POSTPONED THEIR MEETING UNTIL THURSDAY TO SEE WHAT THE OUTCOME OF THE FIRST PACKAGE OF REFORMS WAS GOING TO BE. NOW THEY CAN CONTINUE ON WITH THE REFORMS AND INTRODUCE THE NEXT PACKAGE. SO IT WOULD SEEM IRAQ IS BACK ON THE FAST TRACK OF GETTING THINGS DONE.
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Poppy3 – MALIKI STILL UNDER CLOSE OBSERVATION BY INTERPOL SERVICE AND THEY WILL PICK HIM UP IMMEDIATELY WHEN ORDERED TO DO SO ANYWHERE IN THE WORLD HE TRAVELS. INTERNATIONAL CRIMINAL COURTS STILL BUILDING A MASSIVE CASE AGAINST HIM. PLUS MANY OF HIS CROWNIES. EVEN THOUGH THEY HAVE TONS OF EVIDENCE THEY ARE STILL LEAVING NO STONE UNTURNED.
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Iraqi leader wins backing for reforms but walks a dangerous line
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BAGHDAD — Iraq’s parliament voted overwhelmingly Tuesday to back a package of measures aimed at stamping out corruption and government overspending, opening the way for the biggest overhaul of the country’s political system since the U.S.-led invasion in 2003…
…Ali al-Alaq, a senior politician with Abadi’s Dawa party, cited a “new reality” and spirit of cooperation from Iraq’s fractious political blocs.
Abadi drafted the reform package as soon as Iraq’s leading Shiite cleric, Grand Ayatollah Ali Sistani, gave his support to the demonstrations, Alaq said, ramping up pressure on the government to act.
“It wasn’t panic, but a realization of the urgent need to correct the political process,” the legislator said. “The prime minister had always demanded reform but faced opposition from political blocs, but now that the people and the clerics are behind him, it’s an opportunity to act.”Alaq acknowledged, however, that moving forward would not be easy.
“This is the nature of human beings. They don’t give up easily when their interests are harmed,” he said.
(Alak is also the current Gov of the CBI – very strange comments by him – to be sure…)…
http://www.dinarupdates.com/showthread.php?17271-Iraqi-leader-wins-backing-for-reforms-but-walks-a-dangerous-line-8-10&p=126676&viewfull=1#post126676
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Bluwolf – Much positive news coming out of Iraq, people have been displaced, separated and arrested…The final cleanup on aisle 5 is in full throttle. All borders for dinar export are most definitely closed. All broker or dealers have been informed to stop the movement of sales. All TRN are officially golden standard. We are now anxious awaiting this final phone call. It all squares down to this part of the ride. It is finally on the US best interest to give the signal on this impending GCR and 204 Country Revaluation. The hyperinflation speech is well past due and must be announced shortly without further ado…These are my views on our current situation here and abroad. Please have all your paperwork ready for we await a high government official signal and that is in that happening
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tman23 – [How on earth, can a non-tradeable currency be tracked on Forex and also be traded?] What does the exchange rate show on the CBI site…That is the official rate…and it will fluctuate right along with the forex IF and WHEN the IQD is being traded on the forex.
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Delta – We are about to see the dinar go international – and we don’t want to see corruption in the currency. Whatever numbers come in will help the GOI, CBI, the banks, the budget, etc. I think Abadi knew about this a long time ago. He was waiting to get the full support. So why is Maliki not in prison? Because we are waiting for the reform and then you’ll see that happen. I am so excited about what we are seeing right now. I believe we are super, super close. Confidence with investors will continue to increase. The citizens cannot take it anymore and Abadi knows it. He really cares about his own people. It’s amazing. Everyone is waiting in line for one thing and Abadi knows that too. The people want to make a good living, they want good jobs. How can Abadi do that without currency reform? He can’t. We are on the verge of something big coming up.
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Abadi directed to prevent the defendants of stealing public money to travel [abroad]
The face of Prime Minister Haider al-Abadi preventing the defendants of stealing public money to travel abroad and bring them to justice…
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Frank26 – During the last 4-5 days…the “displaced” funds…all funds that were embezzled…the funds are coming back to Iraq. All that was stolen is pouring back into the banks into Iraq. It is the start of the RI …that is what we are focusing on. Abadi wants to work for the people…All of the “issues” that have plagued Iraq don’t matter anymore – it’s time for the people…time for the citizens. So the IMF told them to get rid of Alak (the acting Governor of the CBI). There is a massive round-up of corruption…that is what is needed to raise the value of the currency. Iraq has big assets and they must come out as an RI and then into an RV. [post 2 of 2]
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BGG – [is it safe to assume that after this big shakeup in the goi that there will be a cool down period where not much gets done.] not according to Zebari and everyone else – this thing is just now getting wound up!!
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Frank26 – Last week we talked about the BONDS – phase 1 and phase 2. Those BONDS were a “test-run”. Finch released its credit rating for Iraq which was a “B-” and Jabouri was not excited about this because he was expecting an “A” but because Iraq hasn’t completed Article 8 (which they had the Green-Light to do)… this was a warning shot to Iraq. Until Dr. Shabibi lifts the currency of Iraq there is a BLOCKAGE at the CBI. So they held a meeting… In the meeting (last Saturday)…the IMF said to the CBI (basically Dr. Shabibi) “…you should have qualified for Article 8 by now…?” With that said we’re going to start a massive round-up of corruption (which has started…) All corrupt officials have been dealt with. Maliki tried to flee Iraq but he was stopped. All of his cars, money… everything is now in possession of the GOI and the GOI’s laws. SECURITY kills corruption! [post 1 of 2….stay tuned]
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Dinar Updates retweeted
Iraq Solidarity News @iraqsolidarity Iraq’s parliament approves reform plan in rare show of unity
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BGG – Article quote: “Revealed reliable sources from within the Baghdad International Airport that Nuri al-Maliki tried to leave Iraq to Syria on a private jet in secret…” MALIKI IS TRYING TO LEAVE IRAQ TO SYRIA IN SECRET. Looks like Maliki is “refusing” to step down…he’s toast…things are very hot on the homefront for Maliki. …him “refusing to step down” (IMO) will only speed his demise. why is all of this important? Maliki being dealt with directly and completely opens the door wide for all kinds of reform – Monetary Reform being at the very top of the list.
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Kaperoni – …opening the banking system to the world is clearly what international organizations (IMF/WB) are helping Iraq with. And surely, those decisions are discreet. Sounds to me Abadi is going to allow the process to move forward. Hopefully very soon!
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Aggiedad77 – Article: “Abadi confirms that there are other packages of reforms at the same level” Get ready citizens of Iraq…there are more reforms being worked at this moment…more reforms than just the sacking of certain government officials who may have been caught in the corruption roundup…reforms that will bring an end to terrorist threats… reforms that will ensure more jobs and improvements in living conditions…watch for these efforts at the same time the government is undergoing its huge reform as well.
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tman23 – I was told today……..and by 2 sources …….one in conversation and one by email where a form that was attached that I do not believe was intended to be………. And that being said……. The information coming forth is October 6th is the release of “integregated and coordinated implementation” ………..and I won’t go on BUT to include RV would be my speculation……. I was told……and I repeat I was told……and I will say this teller of stories is no fable…….. that nothing moves until this is post 2015 is complete…… and I have a document that leads to October 6th as being the start of 2016…
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Aggiedad77 – Corruption is being given a swift kick in the butt and security is being locked in for all practical purposes…Maliki tried to test the border and airport security and was caught at the Baghdad Airport as he tried to leave…wait he admitted he was only meeting President Masum…guess his driver took a wrong turn as they left the Green Zone…Oh I could so easily go on and on about all the good that is coming from the actions that Abadi decreed over the weekend. For anyone in the government who might be thought of as remotely tied to anything to do with corruption PM Abadi has brought the hammer down on their ability to travel…oh indeed their wings have been clipped… [post 2 of 2]
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tlm724 – If Abadi’s gamble pays off, the 9th of August 2015 may in hindsight be remembered as a momentous day in Iraq’s history, to outweigh the eventful regime change of the 9th of April 2003…indeed we are watching a historical event unfold! …in a bid to end the sectarian quota-system, marks a potential watershed in Iraq’s political history and its future. I am loving this plan, a moment in time when everything changes! …if the MP’s fight this reform it will be political suicide! They will essentially point the corruption finger at themselves! …in other words if you have nothing to hide then you should support this plan fully! …I pray parliament does the right thing here and I really do think they will! Sure we have seen green lights and on some days we have had our hopes crushed BUT this is truly the turning point for Iraq and for us as investors in their country. With a thriving economy comes a more valued dinar, it is the law of economics! [post 2 of 2]
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Dinar Updates retweeted
The National @TheNationalUAE Bold move by Iraqi PM to tackle corruption could mean ‘new era’
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Aggiedad77 – The news the past 24 to 48 hours has been fire-brand hot so to speak…so much about reformatting the government… doing away with key positions which include the three VP’s and three Deputy PM’s and a host of other high level positions…The elimination of some ministries or combining of ministries to stream line some operations…PM Abadi is definitely being courageous and bold all at once, and he’s not waiting long for what others might think of his actions…many in key positions of Parliament and with political blocs are verbalizing their agreement with his actions…So any “vote” that might need to be forthcoming from Parliament over his actions seem to be a foregone conclusion that he will find the necessary support. [post 1 of 2….stay tuned]
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tlm724 – It seems that the 12 years crescendo of politicization, sectarianism and mismanagement has finally reached its climax. The mid boiling temperature of Iraq’s sweltering summer and daily terrorist attacks did not stop the masses from coming out and saying enough is enough…the Iraqi people have called upon Prime Minister Haider al-Abadi to dissolve parliament, hunt down corrupted politicians and deliver public services. The peoples’ call upon Abadi to implement radical reform, backed with Grand Ayatollah Sistani’s absolute support for the PM…the supeme religious leader gave his blessing to Abadi! Never before has that be done! If Abadi succeeds in his mission-impossible, he could go down in history as the Nelson Mandela of Iraq. If he succeeds will depend on parliament and we cannot expect this to go absolutely perfectly, expect their to be fighting within BUT I truly believe this will pass in the end! [post 1 of 2….stay tuned]
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Kaperoni – Article: “Finance Committee has confirmed that it has received several complaints by citizens and some traders that there was fraud to local currency.” Quote: “BAGHDAD / Obelisk: detecting a number of experts and specialists in the financial and economic affairs for the emergence editions forged the category of 25 000 dinars on the market do not contain the security code (the horse)…” Most of us have 25k notes. This is a good reason to check our notes to make sure we have the horse head.
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Commercial Solicitation
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BGG – It was my take – they were expecting a better rating than b- and some interest in their bond offering… “blew up in their face” meaning – that plan alone won’t save their bacon…no matter what the rating – at this point, I foresee a “tepid” response to their bond offering (at best!!)…I am very curious to see how this next set of events unfolds… this is a very interesting turn of events.
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Breitling – The Iraqi Journal has talked about how they got the note count down to 6 billion and then 4 billion and their goal is to get to a billion…so you have to know these things to know where the value is going to be gained in the dinar…What’s one of the proofs? …Liquidity is drying up…There are things to watch, liquidity. There are ‘tells’ of something coming down the road and you are seeing it. Instead of being paranoid and scared you should be…very very happy and can’t believe it’s actually coming down the road after all these years. the signals and signs are liquidity.
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Millionday – ABADI IS MAKING CHANGES IN POSITIONS TO NOT ONLY REDUCE COST BUT CORRUPTION TOO… MINIMIZING GOVERNMENT PAY AND POSITIONS… HUGE PROGRESS AND HOPE FOR THE CITIZENS FOR THE NEW IRAQ.
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Iraqi Dinar/Dollar auction 11-08-15
Currency Auctions Announcement No. 3011
This daily currency auction was held in the Central Bank of Iraq on the 11-08-2015
The results were as follows:
| DETAILS | NOTES |
| Number of banks | 22 |
| Number of remittance companies | 8 |
| Auction price selling dinar / US$ | 1166 |
| Auction price buying dinar / US$ | —– |
| Amount sold at auction price (US$) | 336,991,311 |
| Amount purchased at Auction price (US$) | —– |
| Total offers for buying (US$) | 336,991,311 |
| Total offers for selling (US$) | —– |
More: http://dinarupdates.com/blog/
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Kaperoni – Article quote: “Roudao – Arbil, the voice of the Iraqi Council of Ministers unanimously, during the special meeting held on Sunday, the first package of reforms presented by the Prime Minister Haider al-Abadi.” This article describes the reforms Abadi has planned. Though promising and a very big step in the right direction we must refrain from being overly excited because nothing happens fast in Iraq. As well, these recent decisions are not a trigger for some mythical RV…What it will do is begin to create a “climate” that eventually will lead the gradual rise in the dinar as the economy grows and investors/investment comes into Iraq.
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tman23 – Speaker Yousif Mohammed of the KRG Parliament legally can and most likely will take over Barzani’s duties after August 20th for 2 months until a NEW President can be elected… This appears to be more timing that coincides with the removal of Maliki etc… The problem in Iraq has been at the top…and the musical chairs game…same players making the same troubled arguments without positive outcomes… Recall that Maliki wanted a third term because Barzani was getting a third term… They both will be out of the political picture…Barzani will be a force in Kurdistan behind the scenes, Maliki on the other hand has been delivered his political bankrupt papers… AND since my last update on consulates in Kurdistan 3 weeks ago of 27…There are now 33 that are official… RV or no RV…foreign countries are setting up for business relations…it certainly isn’t for tourism.
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Arthur – SO WHATEVER THESE DISCREET “SECRET” NEW FINANCIAL STRATEGIES ARE THEY HAVE BEEN ACHIEVED WITH HELP FROM THE WB/IMF/UN/PTB. This and all of these reforms are with the complete cooperation of the Kurds, the proven to be supremely influential religious authority, and all ministries and does not have to be voted on by Parliament. So whatever this is, and it doesn’t take a rocket scientist to figure this out, it is not just being called for but about to be implemented immediately. [post 2 of 2]
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Dinar Updates retweeted
Iraq Live Update @IraqLiveUpdate 18h18 hours ago
Moqtada Al-Sadr says he will call his followers to ‘fill the streets’ if Abadi’s reform bill is stopped
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Enorrste – Article: “Iraq PM Proposes Abolishing Vice Presidencies in Reform Push” If this works it will be a very smart play on Abadi’s part. The fly in the ointment is that he needs both his own ministries approval as well as Parliament’s approval to move forward. His argument, however, is excellent: it will both save money in the government that can go for needed services, but will also eliminate a number of positions which are clearly corrupt in the government. From the articles it appears that more than just 3 vice presidencies are being eliminated. He would move some other governmental positions away from the parties who now control them through patronage, reduce personal body guards, and, presumably, make other changes that could streamline the government significantly. The question of the day: how will Maliki respond to this?
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Arthur – ALTHOUGH ABOLISHING THE VP POSITION WHICH EFFECTIVELY SHOWS MALIKI THE DOOR IS HUGE, OUT OF ALL THE ABADI REFORMS THIS IS THE ONE THAT CAUGHT MY EYE AS FAR AS US IS CONCERNED: NOW KEEP IN MIND THIS REFORM IS UNDER THE HEADING OF “FINANCIAL”: 3. activation strategies discreet work prepared by State institutions, including in particular what has been achieved in cooperation with international organizations. activation strategies discreet work prepared by State institutions… SO THEY ARE GONNA ACTIVATE SOME NEW FINANCIAL STRATEGIES THAT HAVE BEEN DONE DISCRETELY OR “SECRETLY”…AND including in particular what has been achieved in cooperation with international organizations. [post 1 of 2….stay tuned]
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Frank26 – …you see no ratings from Moody nor Standards & Poors…Why? These agencies 100% of the time release their ratings in unison – that’s how the rating system works. The B- was a warning shot to bring security into Iraq. They need to RI – it’s as simple as that. But…know that they can RI at 1166. But…based on what we are seeing, it would be insane to consider such action and since the removal of Hussein, security has now blossomed in Iraq and we pray that the monetary reform of the IQD will soon blossom too.
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Breitling – You don’t even need to listen to them you don’t even need to be curious. You’ll know when it’s time to EXCHANGE your currency…NOT “cash in” but exchange your currency. Where is the Iraqi government going to come up with all these dollars to “cash in” all these Iraqi dinars? It’s not a “cash in” it’s an exchange. It’s an equivalent value exchanged for the equivalent value. Not only that it’s not going to be cash. Most of it’s going to be going into your bank account as credit. It’s always worked this way. [Post 2 of 2]
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BGG – Article Quote: “The prime minister Haider al-Abadi had announced earlier in the day about the most important actions to be taken by the most important part of his reform plan to reduce ministries and cancel key positions of the Republic and the Vice-Minister.” Maliki’s VP position ELIMINATED!! …he’s OUT. [how can they eliminate a political position such as that?] he just did – and he’s getting lots of support – Parliament leadership, Barzani (Kurds), Clerics, everyone jumped right out to support Abadi. My contention has always been once Maliki is gone – Alak will either grow a brain or be gone as well… […do you think this will this prolong the RV…?] I don’t think it slows anything down – it probably moves things forward.
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Chattels – Article quote: “the need for the House of works MPs and ministers to support Prime Minister al-Abadi by voting on the latest decisions… ” Maliki is not gone. The Parliament must act and vote by a two-thirds majority to accomplish the abolishment of the constitutional offices of vice president(s) and deputy prime minister (s).
We will see soon enough – won’t we??
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“Straight Talk Radio” Call!!
“for HUGE Dinar News – TODAY!!”
from Sunday – 8/09
Click banner on mid-right of page!!
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Millionday – Article quote: “…al-Abadi said that the Cabinet will take the inter decisions to improve financial and political level and correct government action paths…” THE ANNOUNCEMENT BY ABADI IS TO MOVE FORWARD RIGHT AWAY IN REFORMS — ALL TO IMPROVE THE FINANCIAL AND POLITICAL LEVEL. ABADI HAS BEEN ASKED BY THE RELIGIOUS AUTHORITY TO SHOW COURAGE WITH IN THE REFORMS AND MOVE FORWARD. …MANY THINGS ARE GOING ON IN ALL SECTORS AND AVENUES ACCORDING TO NEWS.
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My Ladies – THE CABINET HAD A MEETING TO DAY IN AN EFFORT TO CALM DOWN THE DEMONSTRATIONS. ABADI LISTENED TO THE CONCERNS AND AS A RESULT HE IS TRIMMING THE FAT. RIGHT NOW HE IS CUTTING ADDITIONAL PROTECTIONS AND SPECIAL PROVISIONS FOR ALL STATE OFFICIALS AND THE THREE PRESIDENCIES MINISTERS AND PARLIAMENTARY MEMBERS. SO SORRY MALIKI HATERS THE ACTUAL POSITIONS NEED TO BE DISSOLVED THROUGH CHANGING THE CONSTITUTION BUT THE EXTRAS CAN BE REMOVED. HE CAN DISMISS HIS MINISTERS AND VICE MINISTERS BUT THAT’S AS FAR AS HE CAN GO. THE VICE PRESIDENTS REQUIRE TIME TO REMOVE AND IS OUT OF THE HANDS OF ABADI. THE SPENDING ON THEIR SECURITIES CAN BE CUT HOWEVER. ACCORDING TO THE CONSTITUTION …HE DOES NOT HAVE AUTHORITY IN THE FRONT OF THE HOUSE…EXCESSIVE SPENDING AND PRIVLEDGES HE CAN STOP…HE CAN NOT REWRITE THE CONSTITUTION.
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tman23 – …. I recall an article where as Zebari said he was hoping for a rating better than a D……. That in itself says were “scr****” …. It does appear that what Lord Ashfield said in the meeting with Shaways in London….. Iraq needs credit to rebuild, and if the thought is it can be done with cash and pay as you go your government will not last the citizens demands. That being said; I believe we are seeing the strings attached by the IMF and World Bank which sets the stage… The requirements start with reducing a bloated government and state dependent society….. The reduction of 30 trillion IQD etc is because they allocate 1% of such to infrastructure and the rest has shown to disappear…… The interesting part to all this is the cancellation of implementing all contracts except military arms…… GREAT NEWS……. Because opening new loans and contracts with the 3 zeros opens a whole new can of worms…..
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Abadi decide to abolish the posts of Vice-President and Prime Minister immediately (meaning MALIKI!!)
BAGHDAD – scales News Decided to Prime Minister Haider al-Abadi, Sunday, the abolition of the posts of Vice President and the Prime Minister immediately, in the face of past and present open the files of corruption under the supervision of the Commission, “Where did you get this” …
http://www.dinarupdates.com/showthread.php?17071-Abadi-decide-to-abolish-the-posts-of-Vice-President-and-Prime-Minister-immediately&p=126343&viewfull=1#post126343
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tlm724 – Huge news! First that there was a unanimous vote, that must be a first and second we are witnessing history being made! Prime Minister Abadi just sent out a statement about abolishing the posts of the 3 Vice Presidents, that would be Maliki, Allawi and Najafi! The corrupt are falling finally!
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Kaperoni – Article: “Cabinet voted unanimously to reform paper in the presence of 31 ministers” So it’s official! Maliki is out. The CoM approved the changes in the government including the removal of Maliki! Wooohooo.
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tman23 – Regarding time tables…It appears that October 1st is central to a host of world events including Iraq International Bond offering. I could give 5 major scheduled events off hand… I’m not saying a IQD RV is part of those changes, or removing the 3 zeros… There is no denying October as a world date…
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Millionday News Time – 8-08-15
Thanks to DinarRecaps.com for posting Millionday News Time
Millionday: KNOW THAT THE NEWS IS SO EXCITING RIGHT NOW AND WE ARE SO GLAD TO SHARE IT WITH YOU
Millionday: , Alaa al-Tai economic advisor to the Prime Minister Dr. called the appearance of Mohammed Saleh, government agencies concerned with the economic aspect of the country, to the creation of economic institutions according to the approved banks and the laws of the world, noting that the national economy needs to be a serious stand to promote it, as well as the banking business. “He stressed Saleh, an economist known, the need for a “new working mechanism to keep the financial system in the country, and the establishment of banking institutions in accordance with the internationally accepted laws, in order to protect depositors and employees in the banking sector.”
Millionday: NOTE — SALEH ANNOUNCED TODAY THAT ALL ECONOMIC POLICIES/LAWS/AND REFORMS WILL BE ALL IN COMPLIANCE WITH INTERNATIONAL LAWS/REGULATIONS ETC
Millionday: NOTE — ALL INTERNATIONAL COMPLIANCE ALONG WITH CONSTITUTIONAL COMPLIANCE
Millionday: WHOOPOW
~~~
Read More: http://www.dinarupdates.com/showthread.php?17050-Millionday-News-8-8-15
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Kaperoni – Article: “Uniting directed its ministers and parliamentarians to support decisions Abadi reform” Abadi announced today that he is recommending the removal of a few positions as part of his reforms which include elimination of Maliki’s VP position. A subsequent CoM meeting is taking place or just completed to confirm these changes. What I am hearing is Maliki is out of that position. What happens next..we wait and see.
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Breitling – I really can’t believe that there are people who have been listening to me all these years and saying “hey there’s a the special group that are the only ones who can cash in!“…I mean come on guys it’s very simple. they know the potential of what the dinar is going to be and they want it [your dinar] and they consider themselves smarter than you and they are going to try to scam you out of it [your dinar]. Just stay away. [Post 1 of 2 stay tuned for the rest of the story]
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BGG – big news day yesterday …Credit rating was big. It isn’t nearly the rating Iraq was dreaming about…Get rid of the corruption – enough with the BS and get their country moving the world WILL RESPOND…also – it’s making Abadi face the reality of his situation. I am really hopeful Abadi gets the gravity and moves things ahead.
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Iraqi Dinar/Dollar auction 09-08-15 (no change)
Currency Auctions Announcement No. (3009 – most recent listing)
This daily currency auction was held in the Central Bank of Iraq on the 09-08-2015
The results were as follows:
| DETAILS | NOTES |
| Number of banks | 19 |
| Number of remittance companies | 2 |
| Auction price selling dinar / US$ | 1166 |
| Auction price buying dinar / US$ | —– |
| Amount sold at auction price (US$) | 283,937,564 |
| Amount purchased at Auction price (US$) | —– |
| Total offers for buying (US$) | 283,937,564 |
| Total offers for selling (US$) | —– |
More: https://dinarupdates.com/observer/
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firefly – Well the credit rating is HUGE! They need to boost it from B- in my opinion but it’s A START! Now how the heck can they boost it? We anxiously wait and watch. We are so close…Many things going on behind the scenes that is not in print nor will it ever be…IMO… [this weekend would be great or even next week. ] I’m not looking for it this weekend …would be a pleasant surprise though. But I highly doubt it. Need to get through the sucker bonds 1st, IMO.
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Bluedog – “The Washington Post: ‘We’ve had enough’: Baghdad protests challenge Iraq’s Abadi” IMO…I SEE THE PROTESTS AS A SET UP BY CLERICS AND A PORTION OF THE GOI…THESE WERE MEANT TO CLOUD THE ARENA…THEY ARE VERY PEACEFUL PROTESTERS…WHY NOW AND NOT 2 MONTHS AGO OR LAST YEAR…PROGRAMED…IMO WHILE EVERYONE READS NEWS OF THESE PROTESTER THEY LOSE THE FOCAL POINT OF WHAT IS REALLY HAPPENING.
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Frank26 – “Bold proposal by Bahralolom: calls for abolishing quota, resignation of National Alliance ministers, Abadi picks cabinet & gets on w/ reform” Yes!!!…!!!…!!! Watch this…GOICBI = ONE. “…and get on with the reform.” Yes…Both GOICBI are of one accord. To complete … THE REFORM … Of many things in Iraq. Winky Winky.
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Iraq receives first rating in boost to bond issue plans
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tman23 – Investment law has arrived… End of the road was June… 30 days later and the country is unraveling…Me no think they can make another 30 days on speeches and promises.
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Poppy3 – …MY SOURCE SAID…THEY HAVE THEIR LIST AND KNOW WHAT THEY MUST DO AND THEY HAVE FULL AGREEMENT AND WILL NOT STOP TILL IT IS ACHIEVED.
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Aggiedad77 – “Babylon celebrates the transfer of powers and their portfolios confirms that the project will happen quantum leap” Thursday celebrations in the province of Babylon mark the transfer of powers from some ministries to the local levels and make it appear encouraging that others are to follow as well…good news for the provinces and local governments as Baghdad makes these moves to show support for their abilities to carry forward with work that was formerly reserved only at the state level…good signs of things to come that are positive and proactive from this government.
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Commercial Solicitation
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Frank26 – The CR (Credit Rating) was issued at a B minus but given as STABLE. Moody and Finch is the first to report this last night. The other agencies are waiting for instructions. It is NOW Iraq’s Sovereign CR. Jabouri wanted a higher CR but he understands this is the start of adding value and that is the focus right now for the currency. The RI is being kicked in iMO and the B is the RI phase that will take us into the RV. We have information that this Saturday meeting may be bigger than most meetings by the CBI. Why is it at a hotel with luxury for thousands that are coming…why the royal treatment? Why at the same moment the IMF reiterates that Alack is only the acting governor of the CBI for now? Why is the GREEN ZONE blocked again today? Why is Abadi letting the protestors have their way against the corrupt officials of their country? Why did the defense minister arrest 35 last night? Why is the GOI scattering like cockroaches? Abadi dismissed all of M’s followers and they are not getting paid by the GOI. Many small things are leading to one big thing. IMO…the thousands that will show up at the Sheraton tomorrow [Saturday] may be that the CBI is announcing…”open for business”.
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ARTHUR – NOT SO SURE TOMORROW WILL BE SIGNIFICANT BUT WHAT IS SIGNIFICANT, AMONG OTHER THINGS, RIGHT NOW IS ALL THIS UNREST ALL OF A SUDDEN IN IRAQ. WE SAW WHAT HAPPENED TO EGYPT AND WHAT HAPPENED TO KHADAFI IN LIBYA…THESE THINGS CAN SPIRAL OUT OF CONTROL REALLY FAST AND THEY KNOW THAT. RIGHT NOW SISTANI AND THE CHEST SADR ARE SAYING TO KEEP IT PEACEFUL BUT THAT WILL NOT LAST MUCH LONGER IMO. WHAT THEY ARE ASKING FOR IS ELECTRICITY AND NO TAXES (WHICH IS NOT AN OPTION) ACCUSING THE GOVERNMENT OF RAMPANT CORRUPTION…ALL TELL TALE SIGNS OF AN ARAB SPRING STYLE HOSTILE OVERTHROW OF THE GOI. WHILE WE DON’T SEE SIGNS DEMANDING AN RV….WHAT THEY ARE DEMANDING IS PURCHASING POWER IN THE FORM OF DEMANDING THERE BE NO TAXES AND TARIFFS AND THE SINCE THERE HAS TO BE TAXES AND TARIFFS FOR A MARKET ECONOMY TO EXIST….THE ONLY WAY TO OFFSET THE BURDEN IS AN RV. YES, I STILL THINK THE AUGUST/SEPT SHOULD MAKE SOMETHING POP OR EITHER THE WHOLE HOUSE OF CARDS COULD VERY WELL COLLAPSE AND I JUST DONT THINK THE PTB IS GONNA LET THAT HAPPEN…WITH EVERYTHING THEY HAVE INVESTED IN THIS WHOLE PLAN A LOT OF MEETINGS ARE GOING ON RIGHT NOW AND FROM WHAT I’M HEARING WE MAY BEGIN TO SEE SUDDEN MOVEMENT ON THE HCL WHICH I ALWAYS HAVE AND STILL THINK MUST BE IMPLEMENTED FOR THERE TO BE A SIGNIFICANT REVALUATION OF THE CURRENCY. I’M ACTUALLY LOOKING FOR SOME KINDA MAJOR SIGNIFICANT ANNOUNCEMENTS AS EARLY AS WITHIN THE NEXT 2 WEEKS. REMEMBER THAT THE UN HAS GIVEN THEM UNTIL THE END OF SEPTEMBER TO HAVE THEIR ENTIRE MR COMPLETED AND IMPLEMENTED MAKING AUG/SEPT THE MOST SIGNIFICANT WINDOW TO DATE – IMO.
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Thousands of Iraqis protest against government corruption
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Nova – What have we seen as for Passing Power To The Provinces? Much of the same, it is being slow played “We must do to slowly “. IMO we will not see this fully implemented till the new mechanism is in place. Now those wonderful Bonds that create so much confusion. Can we find anything on them? NO! Not a word from anyone. Why? IMO this also requires the new mechanism be in place before these Bonds can be sold! What do we see happening Globally right now? We see A New System/ Mechanism being brought on line with many countries Right Now! Really…as of July 31! Never in the history of Iraq have we seen what we are seeing right now! So what is my Opinion? It is this, It is clear to me that Iraq’s Government and its Central Bank is Waiting! Waiting for the New System to get to them so it can turn on Its New Mechanism and start doing what the world wants it to do! And what do we know…THAT THE NEW SYSTEM HAS BEEN TURNED ON SO IT JUST DOWN TO TIMING FOR IRAQ! [post 2 of 2]
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Kaperoni – Article quote: “The Central Bank, on Friday, ready to announce the launch of five trillion dinars loans to banks, “industrial” and “agricultural” and real estate “on Saturday.” I wouldn’t be surprised if this is delayed since the tariffs were postponed. It is hard to create a competitive market economy when there is no taxes on competing items flowing through the borders. The tariffs need to be in place before they can successfully compete. Abadi made a big mistake today postponing tariffs to the end of the year. That decision, in essences, will put all market economy reforms on hold for the remainder of this year as well…they cannot afford that delay.
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Fitch gives Iraq its first credit rating
The ratings agency has given the country a stable outlook and a B- rating, six notches into junk.
The country is planning a $5bn bond issue towards the end of this year.
Fitch is cautious. Very cautious. It says:
Political risk and insecurity are among the highest faced by any sovereign rated by Fitch. Sectarian conflict has raged with varying intensity since 2003, ISIS militants currently effectively hold three of the 18 provinces, relations with the Kurdish regional government are volatile and governance indicators are exceptionally weak.
Iraq’s fiscal position has deteriorated rapidly since 2013 and Fitch forecasts a double-digit fiscal deficit for 2015, owing to lower oil prices, higher military spending and costs associated with civil conflict. Savings buffers built during previous years of high oil prices have been largely eroded and the deficit will be financed by debt, likely including a eurobond and funding through an IMF rapid financing instrument that was approved in July.
And if that wasn’t enough…
Read More: http://www.dinarupdates.com/blog/
BGG ~ This is just a credit rating – however… I really like this line…
“Fitch Ratings has assigned Iraq a long-term foreign currency Issuer default rating (IDR) of ‘B-‘ with a stable outlook…”
The credit rating allows them to sell international bonds. On the other hand, it is a “double edged sword”… they can sell – but not for a premium (at that credit level)…which puts more pressure on Abadi to come up with other revenue. He’s having to face reality.
Maliki has to go – Alak has to go… the CBI has to “pony up…”
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Nova – We all must take the events happening in any passive investment and draw a conclusion with it. When doing this we cannot forget some of the foundational things about whatever we are invested in. Two of Many with the Dinar are… One is the fact that all government agencies must use the Dinar and Two is that these agencies are in need of The New Mechanism in order to use the Dinar. We have been looking with great anticipation this week on three fronts. Bonds, Tariffs and The Passing Of Power To The Provinces. I realize that Iraq has been collecting taxes since Eve ate The Apple, but they have never done it with the New Mechanism. IMO this mechanism must be in place before we see anything more on its Implementation / Delay. [post 1 of 2….stay tuned]
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Stryker – Iraq’s Credit Rating: “Fitch Assigns Iraq’s First Rating at ‘B-‘/Stable” Iraq has a credit rating of a B-/Stable, just out this morning. Bring on the Bonds both domestically and Internationally, Fiscal and Monetary Reforms are in the near future for Iraq, so where are they on corruption? Corruption: In my opinion we should see soon a mass roundup and arrest of a majority of the bad guys, including and not limited to Maliki himself and corruption will be under control, for the most part. Then we/they are off to the races…With Iraq’s economy considered stable by Fitch and other agencies to follow in their assessment of Iraq, all that’s needed is to make sure all future revenue from oil sales, tariffs and taxation can stay working for the people and not in the pockets of the corrupt. Real prosperity for Iraq could really be right around the corner my friends!
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Bluedog – Article: “Urgent .. Abadi directed to postpone the introduction of the new customs tariff” YES IT’S ON ABADI’S WEBSITE SO IT IS TRUE. SO WHAT DO YOU THINK ABOUT THIS MOVE? NEED A INTERNATIONAL RESPONSE RIGHT. ALSO NEED A NEW TRANSFER OF A GOV OF THE CBI…GOI / CBI WORKING IN SINK… IMO…ABADI BEING THE FORMER FINANCE MINISTER…HE IS ON BOARD WHEN THIS WILL HAPPEN.
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Abadi directed to postpone the introduction of the new customs tariff
BAGHDAD / Obelisk: Information Office of the Prime Minister Haider al-Abadi, announced Thursday that al-Abadi face to postpone the introduction of the new customs tariff until ensure the readiness of all border crossings to apply .
Office said in a statement seen by “obelisk”, “The prime minister Haider al-Abadi face to postpone the new customs tariff of work, while ensuring the readiness of all border crossings to enforce the law, away from the corruption and double standards . “…
BGG ~ This is a fairly big deal. The issue isn’t that Abadi is postponing it…. that isn’t good for us. It’s that he knows there is a missing component – THE ADDED VALUE!! Their own economists warned against this VERY SCENARIO!! It’s no wonder the people are about to be rioting over tariffs with no value.
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Aggiedad77 – Article: “Deputy Speaker of Parliament confirms the existence of 17 laws ready for the second reading” Parliament just announced they have 17 laws that are ready for the second reading…these 17 and a handful of others who by their very nature are the SUPER powerful of all laws..
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Poppy3 – AFTER DISCUSSING IT ABOUT 4 MONTHS AGO WITH WHAT I CONSIDER THE BEST SOURCE IN THE WORLD…HE TOLD ME…THEY HAVE MET AND AGREED IN A WAY NEVER BEFORE AND THEY FINALLY FOR THE FIRST TIME IN HISTORY EVEN HUGGED ONE ANOTHER WHICH THEY DON’T DO. HE SAID THEY ALL HELD A LIST OF THINGS TO ACCOMPLISH AND WHEN…
ACCOMPLISHED… THE RATE WOULD CHANGE AND THEY WOULD TAKE THEIR PLACE WITHIN THE GLOBAL ECONOMY. …THEY ARE INCHING CLOSER AND THE PRESSURE IS GREATER NOW FROM AROUND THE WORLD THAN EVER BEFORE. HANG TIGHT THEY WILL GET THERE.
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Adam Montana – [can we expect the rv This year…?] There is a great chance that it’s this year.
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Millionday – [I love seeing the process that they are going through. It gives me hope that the RV will be showing soon.] I AGREE — SO MUCH HAS HAPPENED IN THE YEARS WE HAVE WATCHED THIS ADVANCE — GREAT PROGRESS.
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Follow us on twitter @DinarUpdates !!
Iraqi currency and raising the exchange rate …
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Kaperoni – Article quote: “…and pointed out that the most important characteristic of that strategy is to strive for the establishment of the Iraqi market, which Council It will be within two thousand and sixteen next year or the next.” Sounds like pressure will start next year to begin to raise the value! Hope so anyway.
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Mnt Goat – …each month end, the government of Abadi is reviewed for progress on these reconciliation reforms. We now know that there are 30 reforms and about 20 of them are done. There is so much concern and emphasis now for the completion of these reforms since mid August will make the 1 year outer timeframe for completion of these reforms. These reforms need laws in order to implement them. This is why I keep harping on the completion of these laws as they relate to the RV. No reforms No RV…sorry Charlie…! They are down to the end of their timeframe to complete these reforms… This effort could not go on forever and this end had to come someday. I believe this is the beginning of our RV window and if they can complete these reforms on time we have a wonderful opportunity to see the currency reform and the project to delete the zeroes also being applied.
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Kaperoni – Article quote: “the national strategy to promote the private sector is in three phases implemented over 15 years,” The good news is we can see a real determination to implement the market economy now over just talk..starting with the tariffs, the CBI providing funds, then the sale of the 200 or so state companies, laws, etc. Real tangible proof of moving forward. With a clear goal for the government to step back from the development in a year or so…as part of the 3 phases to self sufficiency. The good news is that the pressure created will raise the value of the dinar over the next few years as a result. We must wish them success in this to achieve our goal!
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BGG ~ I am so sorry. The last two calls we had scheduled were postponed – Tuesday AT&T had a region wide service outage. We had four layers of internet access go out. Thursday we had a medical emergency (my Dad “coded” while in the hospital). As soon as possible I will actually get a call done… in the mean time, as we are able we’ll keep doing online updates.
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Mnt Goat – Article quote “…the Government of Babylon ready for direct transfer of powers from eight ministries, noting that the purpose of the transfer of powers is to provide services quickly without hindrance or delay.” I told you Iraq might get a 3 month extension on the decentralization effort… Well now I have to tell you this 3 month extension was rejected due the unconstitutionality of the decision by the council of ministers. Thus the effort scheduled for completion on Aug 5th, yesterday is still on the radar. …who is actually holding up the transfer…Is it the provinces or the government ministry? … they are telling the people indirectly it is the government holding back the transfer to their provinces. We do know the culprits (which ministries involved)…most of these ministries are not BIGGIES (meaning critical ministries) except one, the finance ministry. Why has the finance ministry not yet transferred to most provinces? Do you want to take a guess? Let’s see how this plays out over the next couple days since we know they are attempting to meet this Aug 14th timeframe for all the reforms, decentralization being one of them. If they are late by a couple weeks we don’t care as long as its not 3 months…lol…Isn’t this exciting?
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BGG – [What s going on with Parliament? I thought after Ramadan they were going to get right to work. I just checked their agenda…and no laws of importance are on the agenda clear thru Aug 15?] in retrospect…everyone expected as much – However, the struggle seems to be significant…the news out today is actually high-level meetings with the “3 presidencies” meeting on how to fix the economy and corruption. NOW. …in light of this news I am very hopeful.
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Mnt Goat – I wanted to reinforce the stance that the new customs and tariff law IS IN EFFECT however it is a new law and is being met with much resistance in some provinces as they try to find loopholes. Some ask the question as to how can the Iraq people afford these news goods as the tariff fees are passed on to the consumer? Also they say there must be an increase in the value of the dinar (an RV) to compensate for this increase.
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“Straight Talk Radio” Call!!
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8/06 (POSTPONED)
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BGG – Quote: “…the International Criminal Court to expedite the arrest of Nouri al-Maliki process before likely smuggled to Iran“. Looks like they might move on Maliki soon.
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Aggiedad77 – Article quote: “…the central bank in a statement received (WAM) a copy of that “will be announced the launch of 5 trillion dinars loans to banks Bank convened a press conference on Saturday.” Some of you are quick and picked up on this being the topic for Saturday’s meeting but who can grasp the meaning of such a meeting at the Sheraton…why there and why now…They have put money on the street in the recent past, but not with this kind of fanfare…and notice who will be in attendance at this “conference”…Deputy PM Shaways…CBI Governor…ministers of Finance, agriculture, industry, housing, businessmen and investors…oh and a few from the Finance Committee…why all this to roll out a loan process of 5 trillion dinars…I think like Frank said, the world is not likely to grasp the meaning of this “conference”…it sounds like it is to be something…much more than just an “announcement” for that could have been done at the steps of the CBI…keep your eyes peeled.
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Decisions of the three presidencies’ meeting
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Frank26 – [When Iraq goes to international status, simultaneously, will the currency go up in value? Does the country have to be international to sell the international bonds?] If it does not offer an International Rate of Interest … Not even a skeleton will buy these dry International Bonds of Iraq. [Does your team still think that the International Bonds will go on sale August 18th?] That is 365 days for A [Abadi] to keep his promise that if not fulfilled will trigger M [Maliki] to react against him. As for DB ( Domestic Bonds)… iMO … The FIRST of them are being sold NOW. [URGENT FROM IRAQIA TV: CBI WILL HOLD A CONFERENCE NEXT SAT AT 10 AM AT SHERATON ISHTAR HOTEL.] No one knew of THIS “CBI” MEETING …When was the last time YOU saw a CBI meeting? And B 4 the 18th.
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Adam Montana – [I was wondering what you think is the underlying cause for the delay of the RV?] I want to answer it in a way that might change how people are looking at this. You believe that the RV is being delayed, but what if it’s not actually delayed… and things are actually proceeding exactly as planned and needed? When people think the RV is “delayed”, that’s because they think it was “scheduled” for an earlier date. It’s my opinion that the change in the value of the dinar has been and always will be a very careful process, and it probably doesn’t have a specific date. In order for the RV to be successful, we have always needed a specific situation to be present. Way back in the very beginnings of this site, I always said we need 3 things: GOI, CH7, and HCL. We have GOI. We have CH7. Now we just need HCL, and we are really really close!
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Millionday – Article quote: “The bank has taken a series of decisions in recent weeks to stabilize the local currency after the dinar dropped against the dollar to 1,400 dinars to the dollar.” SO REMEMBER THE 90 DAYS CBI ANNOUNCED AND THEY ARE STATING HERE THAT THEY ARE TAKING STEPS TO STABALIZE THE DINAR… THEY ARE WORKING TO MAKE THE DINAR STRONG AND GAIN CONFIDENCE…RIDDING THE COUNTRY OF USD ON THE STREETS. [How are they ridding currency… when yesterdays auction was 352 million?] THE AUCTION IS ATTENDED BY BANKS. [SO where does that currency go?] CBI. [when did the 90 day announcement come out?] ABOUT A MONTH AGO. [didn’t the IMF OR the UN ..or was it world bank give a 60 day window to act? if so when was that?] YES THEY DID AND IT WAS ABOUT TEN DAYS AGO.
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Basra ports revenue decline and the closure of Shalamcheh port after the application [of tariffs]
…Lipodeca added that “the Safwan border port revenue was on the last day of the month of July is one billion and 52 million dinars,” noting that “income now is 43 million dinars in four days.”… (OUCH!!)
Read More: http://www.dinarupdates.com/showthread.php?16841-Basra-ports-revenue-decline-and-the-closure-of-Shalamcheh-port-after-the-application&p=125958&viewfull=1#post125958
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Adam Montana – There is a lot of buzz about a couple of major dinar dealers getting shut down or investigated. It really has nothing to do with “dinar”. It’s about how they did business. The dinar is still NOT a scam. There is great potential for the Iraqi Dinar to rise in value, be it a little or a lot, and we all have every right to own it, hold it, and gain from it. …there’s a lot going on, and even a little excitement building amongst my closest Iraqi contacts, but as of right now – no HCL, so no RV. That’s the bottom line. In a nutshell, the IMF is actually putting pressure on Iraq to get moving, and the timeline is less than 2 months. I’ve always said that the IMF can’t force Iraq to RV, or anything else for that matter. The CBI and GOI will do what it wants, when it wants… but this is looking like good pressure on Iraq, and that’s part of why my contacts are starting to crank up their enthusiasm.
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SteveI – [You have been confident before & the RV did not happen. Is there anything different this time around?] Yes, that is very true, ISIS was not part of the plan which sure caused many problems for not only Iraq, but other countries as well. I personally think this was a huge set back for Iraq, but they will get control and push forward and be the powerful country that their assets can back up.
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Frank26 – [Once upon a time many years ago…a man named XXX said the layaways would have to end…right before… IMO…] OK…Here it is: iMO … Powers do not want Layaways sold any longer. You know why? Cause they are GUARANTEED over a 30 to 60 day period. if…If…IF… The RI/RV is near…This has to stop…This is a Fact of DRS [Dr. Shabibi] MR [Monetary Reform] of his CBI’s Dinar.
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Kaperoni – “The central bank plans to put up for the benefit of financial bonds worth two billion dollars” As far as I know, these are domestic in country bonds being sold. International or bonds sold to the world market is scheduled for the end of this year..not at this time. There is a good chance if the GOI funds the budget (increase in oil prices, or other sources) they will not even issue the international bond sale. It is a last resort IMO to make meet the deficit.
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Enorrste – Quote: “The Federal Reserve’s primary method of reducing the money supply is to sell Treasury securities; more simply put, they sell government bonds. This is often referred to as contractionary monetary policy. By selling bonds to the public (including commericial banks, financial institutions, and the average citizen/investor) the Federal Reserve sells a bond and takes cash out of circulation.” First, selling bonds reduces the money supply rather than increasing it. This is basic economic monetary policy. Second, it seems clear…that the CBI will remove the dinars that they receive from circulation, thereby putting upward pressure on the value of the dinar. The important thing here is that the bonds are being issued in order to reduce the money supply while at the same time making it possible for infrastructure loans to be made by the holder of the bonds.
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SteveI – [Do you still thinking the rate will be 3+ range?] Yes, I believe based on the region they are in and oil sharing with Kuwait, anything less would not work.
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Iraqi Dinar/Dollar auction 06-08-15
Currency Auctions Announcement No. (3008 – most recent listing)
This daily currency auction was held in the Central Bank of Iraq on the 06-08-2015
The results were as follows:
| DETAILS | NOTES |
| Number of banks | 23 |
| Number of remittance companies | 4 |
| Auction price selling dinar / US$ | 1166 |
| Auction price buying dinar / US$ | —– |
| Amount sold at auction price (US$) | 318,817,652 |
| Amount purchased at Auction price (US$) | —– |
| Total offers for buying (US$) | 318,817,652 |
| Total offers for selling (US$) | —– |
More: http://dinarupdates.com/blog/
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SteveI – [What do you think about all of these dinar sites situations? Could this be a hint?] I think it means we are at the end of this ride. I suspected this was going to happen when it got close. We were told to look for this last year by many contacts.
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Chattels – Maliki’s fate may lie with the Shia internal battle ( National Alliance ) to choose their next leader. My sense is that Maliki cannot survive in the margins of political power. He has too many enemies, so if he is not chosen as the leader of the National Alliance then he likely is indeed on the way out and out of the country to Iran.
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Millionday News Time – 8-04-15 Part 2 of 2
Thanks to DinarRecaps.com for posting Millionday News Time
Millionday: It confirmed the Customs Authority, on Monday, to start applying the tariff law on goods entering Iraq, indicating that it agreed with the Kurdistan region on the application of the law and the unification of Alkmarki work,
while economic Parliamentary Committee promised that the law is an important step to re-strengthen the joints of the state and the protection of national product, economic adviser counting the prime minister, that the lack of a border applied to any port in violation of the national sovereignty of customs.
Millionday: NOTE — THE LACK OF CUSTOMS WILL BE A VIOLATION — SO LAW
~~~
Read More: http://www.dinarupdates.com/showthread.php?16801-Millionday-News-8-4-15
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OOTW – TODAY WE SAW A GREAT PRESS RELEASE FROM KEYWORDS – AN ACTION PLAN FOR ASSIGNING VALUE TO THE IQD! Article “Financial crisis: devaluation of the Iraqi dinar is it the solution?” WHEN THEY SAY “DEVALUATION” THEY MEAN LOWERING THE FIGURE IE AMOUNT OF THE FILS -MOVING CLOSER TO THE VALUE OF A DOLLAR…IN EFFECT “LOWERING” THE NUMBER, IE, MAKING IT “DEVALUED” BUT IN EFFECT, INCREASING THE VALUE AS THE NUMBER AMOUNT/FILS OF THE DINAR ARE REDUCED.
More “guru gyration” – That is not what he said – Alak (mistranslated – “Keywords”) MAY BE IN FAVOR of a devaluation… However, he is on the wrong side of the argument (as always).
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BGG – [If they can only muster 200-228 to vote on insignificant laws…how could they ever get a super majority for the important ones?] they have called for international mediation (just over the weekend) on such issues. Could be the world powers will help “persuade” the Shia “leadership” to act right. they are aware of their short comings and have asked for intervention… all in ink... [also the world bank is watching!] with a MASSIVE hammer in their hand. [does the 60 day deadline have ANYTHING to do with an International rate?] IMHO it has EVERYTHING to do with a rate – the WB/IMF has (essentially) told them to get their AML policies in order or they will WOP them back to the stone ages (in currency value). aka – BLACKLISTED…that does not appear to be a hollow threat… and it would seem directed at Maliki and his cronies.
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Millionday News Time – 8-04-15 Part 1 of 2
Thanks to DinarRecaps.com for posting Millionday News Time
Millionday: WELCOME EVERYONE TO NEWSTIME
Millionday: Urged interested in economic affairs on the need to involve the Iraqi private sector in the field of investments, especially in service projects, infrastructure and housing projects, to keep the money in the economic cycle to Bld.alaguetsada Adel Abou loaf told »Sabah»: that «under the current circumstances,
the national economy does not have the ability to afford housing projects and projects services and infrastructure cost, so the attraction of investments in this area need and an urgent need for the country to this type of project in light of the expansion and increasing population density ».
Millionday: NOTE — NOT ONLY DO THEY NEED INTERNATIONAL INVESTMENT BUT ALSO NEED THE DOMESTIC COMPANIES INCLUDED
~~~
Read More: http://www.dinarupdates.com/showthread.php?16801-Millionday-News-8-4-15
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Stryker – “Large Reserves Will Raise IQD Exchange Rate” …the $10 billion that was spent out of the reserves from 2014-2015 was not a waste and a good thing for the Iraqi Dinar and it’s upcoming raise in value, according to…economist!
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Delta – The only thing left is the currency reform. They must lift the 3 zeros and move forward. In my opinion…you will never see an international bond without the currency reform. We will not see an international rate without currency reform. The IMF told Iraq a long time ago…they stated specifically…they will help Iraq if they implement the tariffs and lifting the value of their currency. The tariff…they are implemented. For the IMF to give the emergency loans…they know what’s going on. The reason why I’m excited…it’s impossible to increase things with 20% taxes without increasing power of purchase. If Iraq came out at .85 or 1 to 1…that is not the true value. The true value is over 3. I’m very, very excited! I’m very anxious to see what happens this September. [post 2 of 2]
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BGG – [do you expect a huge announcement when the RV happens?] Yes, it will be visible, immediately “around the world” and no “trickle down”…you will know when it happens.
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Due to severe technical difficulties – the call for today is postponed…
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Delta – I do have the confirmation…one bond does exist…a domestic bond. For every dollar that you are going to buy…the price is 1095 dinar on those bonds…you may not see that in the news because that happens internally within the banks. From August 2 until 31st the CBI is doing this to raise some liquidity and capital for the financial ministry in Iraq. Those bonds mature in 1 year. In one year…financial ministry has to pay you the money plus about 6% interest. I think it’s disappointing that the CBI is doing this to the citizens because we all know what’s going to happen. Say 2 or 3 months the value increases…imagine how upset they will be? In my opinion…we may not see any changes in the month of August because of those bonds. I don’t think the CBI would pull the trigger while selling those bonds. In my opinion – nothing will happen in August. If the CBI sells the bonds fast…they could increase the value. [post 1 of 2….stay tuned]
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Frank26 – Maybe by the 18th…highly possible…we may have a better chance of seeing the bonds come out for the citizens of Iraq. The anti-money laundering law is in place as of right now! It was put in place today at the borders. They didn’t even want the bonds sold until this anti-money laundering law was done. Jubouri threatened that if they (GOI) didn’t get this done, he would expose what parliament was doing to the citizens. The concerns for Abadi when he took over as the new Prime Minster were serious. He told the people to give him 1 year and he would clean up all of the Maliki mess. Well guess what? Security comes in many forms. Abadi and Dr. Shabibi are one…united in getting rid of Maliki and his base. We believe now that the anti-money laundering law is in place … they can now deal with them from causing any problems. The reinstatement is something we want to see. At some point they can jump into the RV during the International phase. This has to work perfect. [post 2 of 2]
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Frank26 – [via FrostytheSnowman] …the LAWS are very important for the security for Iraq. They satisfy the borders (taxes / tariffs) those protect the currency and the revenue stream for Dr. Shabibi. …the TARIFFS are in place TODAY [Monday]. The TAXES and TARIFFS are applied through the borders but they don’t apply to FOOD – because they need to take care of the citizens. If you want to bring a product into Iraq it’s going to cost the companies a lot of money. Those companies are pouring in because they want to be a part of the monetary reform. The only security we’re interested in is the movement of the monetary reform. The international world knows it’s coming with the taxes and tariff’s kicking in. [post 1 of 2….stay tuned]
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“Straight Talk Radio” Call!!
“Dinar News that matters…”
8/04 (postponed)
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from 7/29 – Smart phone user link – Click here
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BGG – [can the GOI RV without the CBI?] No – they cannot. However…the GOI (various committees) want this (added value) as much as anyone… it is conceivable the GOI did this knowingly to put more pressure on the CBI to act accordingly…what I’m saying is: the GOI may be allowing the tariffs and taxes to go ahead in spite of the CBI holding things off – I hope it doesn’t backfire on them (if that is the case)… [post 2 of 2]
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tman23 – I will say this… If the IQD was going to be a neutral event with no real gains… they wouldn’t care about your getting the novelty currency in 2 days or 120 days…
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BGG – [did the bonds come out for purchase in Iraq?] internal bonds…yes. [has anyone heard if the tariffs actually started being implemented at Iraqi borders over the weekend?] there has been print on both sides of this – I suspect they have… however, I saw pics over the weekend of import vehicles waiting at “ports” to bring goods in… I have a funny feeling they are half afraid to bring the goods in at the new prices. tariffs without value is SIGNIFICANT PRESSURE. This is real… [post 1 of 2….stay tuned]
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Commercial Solicitation
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My Ladies – THE CBI DID NOT SELL THE BONDS TODAY NEAR AS I CAN TELL, I CALLED ALL THE WAY UP THE FINANCIAL CHAIN AND WE CAN NOT SEE THEM. NOVA CALLED UP HIS CHAIN AND THE SAME THING. I DID HOWEVER FIND SEVERAL OTHER BONDS FROM THE REGION FOR SALE. SO WE WAIT, BUT NOT MUCH LONGER I DON’T THINK.
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BGG – [did the bonds come out for purchase in Iraq?] internal bonds…yes. [has anyone heard if the tariffs actually started being implemented at Iraqi borders over the weekend?] there has been print on both sides of this – I suspect they have… however, I saw pics over the weekend of import vehicles waiting at “ports” to bring goods in… I have a funny feeling they are half afraid to bring the goods in at the new prices. tariffs without value is SIGNIFICANT PRESSURE. This is real… [post 1 of 2….stay tuned]
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My Ladies – Article: “Iran plans to offer more generous terms to oil investors” WELL HERE WE SEE IRAN COMING IN STRONG AND WITH SOLID CONTRACTS THAT ARE MORE APPEALING THAN ANY OTHER IN THE REGION, SO I REPEAT WE SHOULD SEE SOME REACTION FROM IRAQ SOONER THAN LATER OR THEY WILL TURN INTO THE BIGGEST FAILED PROJECT THE USA HAS EVER TAKEN ON. I’M NOT EXPECTING THAT WILL HAPPEN. …DEALS WITH IRAN ARE LOOKING BETTER FROM THE JUMP THAN THE CONTRACTS IRAQ HAS AND COUPLE THAT WITH NO PAYMENT ON THEIR CONTRACTS AND IT COULD GET SCARY FOR IRAQ REAL FAST. THE DINAR NEEDS TO BE CONVERTIBLE AND REFLECT VALUE IN ORDER FOR ALL THIS BACK MONEY TO BE PAID. SO WE CONTINUE TO WATCH IF ONLY FOR A LITTLE LONGER.
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Iraqi Dinar/Dollar auction 08-04-15
Currency Auctions Announcement No. (3006 – most recent listing)
This daily currency auction was held in the Central Bank of Iraq on the 08-04-2015
The results were as follows:
| DETAILS | NOTES |
| Number of banks | 26 |
| Number of remittance companies | 7 |
| Auction price selling dinar / US$ | 1166 |
| Auction price buying dinar / US$ | —– |
| Amount sold at auction price (US$) | 352,843,781 |
| Amount purchased at Auction price (US$) | —– |
| Total offers for buying (US$) | 352,843,781 |
| Total offers for selling (US$) | —– |
More: http://dinarupdates.com/blog/
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Memphis – [ARE THE TARIFFS AND TAXES BEING IMPLEMENTED A SIGNIFICANT STEP IN THE MONETARY REFORM? WHY OR WHY NOT?] There are many markers that will point to the end stages of Iraq’s monetary reform and among them is implementation of the tariff on all goods. I have been watching the latest push as it APPEARS they are serious this time. Now as to why? The WTO has placed it as a requirement to membership and along side this the WTO has also mentioned their interest in seeing the dinar valued more on par with the USD. So I have always viewed it significant as a marker that the end is near.
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tlm724 – Article quote: “The law of customs tariff applied in three phases, the first was on the specific types of goods, and the second more goods,” noting that “the application of the third phase began first on Saturday, (the first of August the current 2015), on all goods entering Iraq” 1,2,3 it’s a done deal! Quote: “the General Administration of Customs created the supplies necessary for the application of the law at border posts,” pointing out that “the law will allow Iraq to join the WTO membership global” now we’re rockin!
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BGG – [by tariffs going today is that the proof we needed?] not entirely…they may be able to absorb these “internally” for a while… but sooner or later “market forces” take over. [If a tariff is place on something coming into country, isn’t that International?] It is possible to implement tariffs without an RV – but it puts a lot of pressure on the CBI – it is not impossible to think this is what they intend. If the CBI won’t do this – the GOI moves forward without their approval.
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Abadi: the Maliki government “spent” all Iraqi cash reserves!
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Mnt Goat – I know the plan as it was detailed to me many months ago. All these aspects are interrelated and interconnected such as the needed reconciliation (or Erbil), security, banking and relations with neighboring countries. But our attention now should be on Abadi and the Reconciliation effort and its completion since we see these other areas there are no issues and are under control. Did the Customs and Tariff law get enacted? YES…It positively did get enacted and is now in full force. I am hearing the rollout of these new taxes is slow and so far the impact is MINIMAL thus the pressure to RV is minimal impact also, but only for now. [post 2 of 2]
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tman23 – Its not all that easy… When and IF the huge exchange for IQD takes place, the exchange and purchase will require newly created money… which will require a “plan to sterilize” the over supply of domestic money… When you get to the “meat” of what is described as an elusive RV… it’s not elusive… it is not just as easy as flipping a switch… There are so many damaging domino effects in different economies who would pay for the large exchange of the IQD… The control measures have to be absolute… So then we have to believe that it takes more than a few people to prepare for such an event which contradicts that only a few people know… If you attempt to figure out the specifics… it’s way above our pay grade and IQ… and that is not meant to be disrespectful. All we can do is wait and see how they make the change and how it affects our IQD holdings… They are in the process…
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Millionday – “National Expert Group announced to promote the private sector…including soft loans worth six trillion Iraqi dinars, confirmed that the government had promised to implement the program within a week or two weeks.” THEY SEEM TO BE CONFIDENT THAT THEY WILL BE IN A POSITION TO ACTIVATE THE PRIVATE SECTOR …THIS IS HUGE…GREAT NEWS. [They must feel they are going to get the Money Laundering taking care of that the world bank wants to get these loans, within the next few weeks then.] THE CABINET HAS PASSED ALL MONEY LAUNDERING AND TERRORISM FUNDING LAWS…SO IT WOULD SEEM THEY ARE CONFIDENT.
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Round Table Chat w/BGG filling in (mid-day) 7-27-15
Thanks to DinarRecaps.com for posting Round Table with BGG filling in for MD!!
BGG: Let’s do a Round Table where we “bat some ideas around”… w/ LIVE Q & A??
semperfidude: Any news with Dinar Corp
BGG semperfidude: The latest development is they have an 8/10 hearing scheduled… which appears very, very quick.
BGG semperfidude: this is “reportedly”…
semperfidude: Licensing problems ?
BGG semperfidude: not sure of the full scope – but it would appear the “reserves” are an issue.
DiagyAAAE: IYO does the 60 day deadline have ANYTHING to do with an International rate?
BGG DiagyAAAE: IMHO it has EVERYTHING to do with a rate – the WB/IMF has (essentially) told them to get their AML policies in order or they will WOP them back to the stone ages (in currency value). aka – BLACKLISTED…
BGG DiagyAAAE: that does not appear to be a hollow threat… and it would seem directed at Maliki and his cronies.
DiagyAAAE: I totally agree!!!!
DiagyAAAE: Al-Maliki accused of wasting a trillion dollars
Baghdad, Iraq Press -3 August / August 2015
JUST A NEWS BOMB we can talk about
BGG DiagyAAAE: of note as well – Abadi appears to have a “new program” for the Integrity Commission – which is to ask “where did you get that?? Meaning they intend to as a lot of questions.
BGG DiagyAAAE: further – my concerns about Maliki and Abadi looking like they are getting along seem to be a “false alarm” – lots of news out today condemning Maliki of financial misdeeds in Iraq right now…
Read More: http://www.dinarupdates.com/showthread.php?16660-Bgg-q-amp-a-8-3-15
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Mnt Goat – They are down to the end of their timeframe to complete these reconciliation reforms I have referenced so many times already. This effort could not go on forever and this end had to come someday. The WTO wants them as members and they are slotted to ascend to full member pending currency reform and tariff implantation. Remember it is always all about the $$$$. Having tariffs means a % goes to the WTO automatically through the software payment system. This could mean billions annually for the WTO. Having an international currency means ease of trade and payments, but it also mean having the rate set in the exchanges where they need to reference it for conversion in the software system… It is all interconnected. [post 1 of 2….stay tuned]
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tman23 – Here is what I was told regarding Iraq domestic Bonds… The CBI purchased government bonds earlier which was to bridge a gap of liquidity to government owned banks. When the CBI purchases government bonds it creates new money which increases the domestic money supply. The offering of domestic bonds is used as a control to decrease the domestic money supply, these are control measures used by Central Banks. The international offering makes sense to come after the domestic and is not a secret plan, it is the financial tools and strategies applied by Central Banks around the world. These moves made by the central bank are known as “sterilization”… The bond sales are not to “raise money”… it is a control mechanism… Iraq is getting a handle on their currency inside and outside of Iraq…
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Poppy3 …EARLIEST WE WILL SEE CHANGE IS MONDAY AND ANYTIME, ANY DAY THERE AFTER.
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Throwback Thursday
The Exchange Rate of Foreign Currency in Economic Feasibility Studies
Below are the central controls related to the exchange rate of the foreign currency to convert the project inputs and outputs from foreign currency to its equivalent in the local currency, and that is by calculating the net discounted present value standard and the internal return on investments in economic analysis that governs investment projects that costs excess one million dinars.
Estimate the shadow price of foreign currency:…
3. Estimate the amended exchange rate of the Iraqi dinar to be used in technical and economical feasibility studies and for (1.134) dollar per dinar. This price should be approved for 3 years until re-appreciation by the competent authorities.
Read More: http://dinarupdates.com/blog/
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