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Word for the day…
Romans 8:37 (NKJV)
37 Yet in all these things we are more than conquerors through Him who loved us.
Heavenly Father, Thank You for Your Amazing Love! Thank You that we are more than conquerors through Your love which is in Christ Jesus our Lord. In Jesus Name, Amen.
Mrs BGG
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We become just by performing just action, temperate by performing temperate actions, brave by performing brave action. – Aristotle
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*** Current Posts ***
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Mnt Goat – In 2006 Iraq has it’s first launching of sovereign bonds. Did they have an RV then? So why do they need one now for the 2015 launch. So please there is no dependency on these bonds for an RV. Today is Friday already and still no RV and the bonds did get launched on time yesterday. However could the funds ($6 billion) be used to set up for a near future effort to do something with their currency? Let there be no mistake this is a very strong possibility. To put the icing on the cake we should be watching carefully for these three laws: National Guard law. Investment law, and Money Laundering law; and then for signs of significance success in Anbar and Mosul areas over ISIS. I told you from mid August to mid September would be a very critical time for getting these reforms accomplished. I told you Abadi would make a final push to get them completed and it would be very sudden and unexpected by most. We are witnessing all of this now. [post 1 of 2….stay tuned]
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Exclusive: America controls the Central Bank of Iraq
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Poppy3 – [SINCE IMF WANTS IRAQ TO DIVERSIFY…AND NOT RELY ON OIL, THEN MAYBE THIS IS WHERE THEY WILL NOT NEED THE HCL IF THEY CAN BE SOMEWHAT EQUAL IN AGRICULTURE, OIL, ETC.] IT IS NOT A REQUIREMENT FOR THE RV BUT IS NEEDED BECAUSE IT IS THE AGREEMENT THAT PAYS THE PEOPLE OF IRAQ. THE PARLIAMENT VOTE ON THE HCL WHEN COMPLETED ONLY CLEARS THE WAY FOR THE RV BEING CLOSE BECAUSE IT IS MONEY FOR THE PUBLIC AND THAT WILL PULL THE OTHER LEADERS TOGETHER. IF ONE OF THEM GOES AGAINST IT THE CITIZENS WILL KNOW CLEARLY WHO TO GO AFTER. STAND BY ALL IS WELL AND ABADI KNOWS WHAT HE IS DOING AND HE IS GETTING CO-OPERATION FROM MANY OTHER LEADERS.
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Backdoc – REMEMBER I TOLD YOU THAT OIL WOULD PLUNGE AND IT DID? WELL, GET READY FOR A FAST RIDE DOWN IN THE MARKETS! SOMEWHERE IN THAT PROCESS OR AFTER…THE REAL REWARD WE ALL HAVE BEEN WAITING FOR WILL OCCUR! I ALSO TOLD YOU THAT THE OIL SUPPLY ISSUE WOULD HAVE TO BE SOLVED POLITICALLY FOR OIL TO COME BACK TO NORMAL LEVELS SO THAT COUNTRIES CAN REBOOT THEIR ECONOMIES! IF WE SEE A RATE VERY SOON YOU CAN BE ASSURED THAT THE PROCESS HAS PROVED SUCCESSFUL. I WILL SAY I’M VERY EXPECTANT FOR A GOOD OUTCOME!
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Jubouri: Parliament is keen to follow up the Iraqi government reforms
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Adam Montana – …I was never happy with their projection of $70 per barrel….I thought it was too high. I am much happier to see them using $60 per barrel now. It’s my thought that the budget will need to be revised after a significant change in the value of the currency, so how about HCL this month or next, RV before end of November, and then Budget in December? Sounds good to me! With a higher valued Dinar, we should see a spike in the global economy. Iraq, for one, will purchase and operate many more military vehicles, as will many other countries. The wealth that can be created could easily drive up consumerism, which will create a higher demand for oil, which will drive up the price of oil, which is yet another benefit for Iraq.
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Kaperoni – At this point, moving to Article VIII is wishful thinking. The CBI knows the rules..within 2% and hold it for 90 days. So they sit in Article XIV. But remember what Dr. Bakri stated, currency reform will come beforehand. True freedom of movement of capital cannot happen until the CBI moves to Article VIII.
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Adam Montana – We’re still waiting on movement with the HCL. It’s really that simple. Once we see that happen, we’re moments away from “money in the bank”.
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Stryker – …the government is seeking to privatize Rafidain and Rasheed Banks, Iraq’s two state owned banks. These banks do not need to be privatized to see reform but must be moving in that direction according to the IMF itself. In this same article…CBI Governor Ismail explained that the foreign currency reserves are at $60 billion but are at a safe level and there’s nothing to worry about at this time. Mr. Ismail also explained that the dinar is stable at the present, see this quote: “If we look at the markets these days .. we will see that the price is very stable .. and very reasonable, so no need to worry about this at the moment.” He goes on to talk about the international bonds reintegrating Iraq back into the global financial system after years of wars and sanctions.
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firefly – [any more info on the 2 banks being restructured as to the raise the level of the dinar?] “World Bank Restructure the Rafidain and Rasheed in Order to Raise the Value of the Iraqi Dinar”
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FrostyTheSnowman – Article quote: “Iraqi Prime Minister Haider al-Abadi said on Wednesday he had dismissed 123 deputy ministers and general managers as part of a reform push aimed at reducing corruption and mismanagement…” GO Dr. Abadi GO!!! …How about adding 1 more to the list to include M [Maliki]. I think he could use a little …”adjustment”.
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Abadi: reforms included actors close to me and the Council of Ministers
Alsumaria News / Baghdad – confirmed the Prime Minister Haider al-Abadi, Thursday, that recent reforms announced by involving those close to him and the “actors” in the Council of Ministers,stressing that the reforms are not directed against persons or entities. Ebadi said in a speech during the first workshop for the implementation of reforms economic and followed up by Alsumaria News, “The reforms that we have taken is not directed against persons or entities,” noting that “I have had some scissors included their personal relationships and their role effectively in the Council of Ministers.” He said al-Abadi, that “the reforms will not stop and must include all aspects of the state and society,” stressing that “there may be political quotas to turn into obsession, and this is at the heart of what we do from the reforms.” It is said that Abadi, recently announced the launch of a series of packages and decisions Correctional after popular demonstrations and protests took place several Iraqi cities to demand reform and improve the services and the fight against corruption.
http://www.dinarupdates.com/showthread.php?19814-Abadi-reforms-included-actors-close-to-me-and-the-Council-of-Ministers-9-10-2015&p=130268&viewfull=1#post130268
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Enorrste – The rise in the value of the dinar has nothing to do directly with inflation. In addition, the CBI has never mentioned moving to a managed float. All reference has been to a free float. The IMF has also pushed for a move to a free float. It is my personal opinion that the dinar will rise quickly once it is released. I suspect that the CBI is being cautious in its prognostications. …a rising value of the dinar will lower internal prices within Iraq, not raise them. Inflation has no part in a rising dinar value.
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Millionday – Article quote: “ …the draft reform of the inmates and depositors Law, and the Anti-Money Laundering and Financing of Terrorism Act.” IT IS READY FOR VOTE. THEY EXPECT THE NATIONAL GUARD LAW TO BE DONE THIS WEEK. [Amnesty law, is it done, finished & voted on?] IT WAS ON THE TABLE WEEKS AGO BUT DON’T SEE IT AS DONE.
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BGG & wmawhite – [anything on parliament today?] House of Representatives completed the second reading of the law of money laundering. that is a big move forward. 1 more reading and a vote…then enforce it. WB and IMF will be happy… [Did it say when the next reading will be for that?] I do not know – but I would suspect soon…they are moving on it with prejudice. the world wants reason to enter Iraq in big numbers. They want to help – but they won’t do so while everything goes directly into Maliki and other corrupt official’s pockets.
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Commercial Solicitation
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Millionday – Article quote: “Iraq seeks to open up to the world through the re-international banking relations across the branches of the Iraqi government banks abroad...” BANKS COMING TO IRAQ IS ONE THING >>>THIS IS SOMETHING ELSE… IRAQ HAS PLANS OF OPENING 151 BRANCHES ACROSS THE WORLD — REMEMBER HOW LONG THIS HAS BEEN IN THE WORKS AND THE EXISTING BANKING RELATIONS NOW…THIS IS FOR TRADE AND INVESTMENT — IMAGINE — THEY NEED AS MUCH AS POSSIBLE.
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Aggiedad77 – Article: “Spokesman Abadi: Prime Minister will launch a new package of reforms within days” PM Abadi is said to be ready with yet another round of reforms in the coming days…what will be the agenda this time…who will be appeased….who will be angered by his actions this go-round… paper being pushed by more paper…This will grow into a sign of weakness on the part of Abadi if he doesn’t start taking some serious action soon…saying you will do something is nothing…actions speak so much louder than words…
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Administrator Bob – […we are in for still a long wait.] I believe how long it takes is relative to the activation and success of a market economy. The new CBI loan program appears to be at least a very good start in the right direction…Now if parliament would pass those dang laws.
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wmawhite – Iraq will be selling what is called Euro Bonds…those are bonds in another country’s currency different from the seller of the bonds. …bonds are not the indicator we are looking for. If I sell you a bonds that states you will receive at maturity $1 million plus 6% interest…do you care what the exchange rate is? NO.
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Martha – 9/15 is the meeting of the UN General assembly and there will be several MAJOR announcements…it is also the release of the UN Operational rates and I hope this time we are finally on point with this one or else we may have to wait till end of month. Iraq is ready and has been. She was prepared for the whole month of September to RV on a Tues-Thurs format… but there are those thought that there would be no rate change until DEC 31,2015 – NEW YEARS (hint hint). Keep the faith for WE are almost there.
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BGG – I have some commentary “in review” of yesterday…Maybe I should have been a little more “tender” with my words. I used the word “RV” apparently currencies don’t do that… I say…SEMANTICS. I care very little what terminology gets used. I care about getting things started OFF!! Whatever the number – or the term – or what the “title page” looks like – I’m just looking for THE JUMPING OFF POINT…because once it gets going (again) their market will take care of the rest. I also wonder what it has been called every time they changed the value of the Dinar since 2003 – (when it started out at around 4,000:1)? it can’t have been a “float”…technically not an RV (according to some)…and again – I really could care less what they call it as long as the value goes up.
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The Exchange Rate of Foreign Currency in Economic Feasibility Studies
Below are the central controls related to the exchange rate of the foreign currency to convert the project inputs and outputs from foreign currency to its equivalent in the local currency, and that is by calculating the net discounted present value standard and the internal return on investments in economic analysis that governs investment projects that costs excess one million dinars.
Estimate the shadow price of foreign currency:…
3. Estimate the amended exchange rate of the Iraqi dinar to be used in technical and economical feasibility studies and for (1.134) dollar per dinar. This price should be approved for 3 years until re-appreciation by the competent authorities.
Read More: http://dinarupdates.com/blog/
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My Ladies – I KNOW THE DAY WILL COME WHEN THE DINAR RE PRICES… I DON’T KNOW WHEN THAT DAY IS THE CRYSTAL BALL IS STILL FOGGY. BASED ON WHAT’S HAPPENING IN THE WORLD CAN THIS BE A SOONER ARRIVAL FOR US? SURE…WHY NOT? BUT WHEN THEY ANNOUNCE THINGS AND BLOOMBERG AND RUETERS REPORTS THEM THINGS SUCH AS INTERNATIONAL BONDS. THESE THINGS LEAD US TO THE NECESSITY FOR AN INTERNATIONAL STATUS AND PERHAPS A VALUE CHANGE. BUT THEN THEY COME IN 30 DAYS LATER AND SAY UMMM OH YEA BY THE WAY… [post 1 of 2….stay tuned]
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Mnt Goat – One of the biggest advantages of the lifting of the sanctions is the return of all frozen assets to the Iraqi government, estimated at $82 billion, according to Central Bank data. Its return will not only revitalize the economy, it will strengthen the value of the Iraqi dinar and increase its purchasing power. But TO THIS DAY IRAQ IS STILL FROZEN IN TIME and still using the post war provisional 3 zeroes notes, meant to be transitioned to the new, permanent currency prior to sanctions being lifted in 2013. So we know the delay in currency reform and the project to delete the zeros is noted clearly and there is pressure from members of parliament finance and economic experts who see the necessity to get the currency reforms completed since these projects can only help the dragging economy. [post 2 of 2]
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Mnt Goat – I told you from mid August to mid September would be a very critical time for getting these reforms accomplished. I told you Abadi would make a final push to get them completed and it would be very sudden and unexpected by most. We are witnessing all of this now. I firmly expect Abadi to clean up the CBI and Dr Shabib to come back to an “official” capacity to head up the CBI once again before these projects kick off fully. …it is very important and necessary for Iranian influence to be gone or greatly impaired in Iraqi politics and in the general influence of Iraq prior to any RV…the pressure is building now for this to happen too. Lots of pressure in all areas of getting rid of Iranian influence in Iraq... [post 1 of 2….stay tuned]
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Iraq’s prime minister is turning against Iran
RGC Quds Force chief Qassem Soleimani said the world will be surprised by upcoming events in Syria.
Qassem Soleimani has many nicknames, generally containing one or both of the words “shadow” or “dark.” However, the commander of the Iranian Revolutionary Guard Corps’ Quds Force has been operating in the light since the devastating advance of the Islamic State of Iraq and al-Sham (ISIS) began in the summer of 2014, but a year later is seeing him begin to wear out his welcome with Iraqi Prime Minister Haider al-Abadi…
Read More: http://www.dinarupdates.com/blog/
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Millionday – [Does a member of parliament carry much weight on monetary policy?] PARLIAMENT DOES HAVE WEIGHT ON POLICY — BECAUSE…EVEN THOUGH CENTRAL BANK IS INDEPENDENT — THEY ARE IN MONEY ACCOUNTABILITY — NOT ALL ECONOMIC MATTERS. THEY ARE A WORKING TEAM FOR THE COUNTRY — CENTRAL BANK IS ACCOUNTABLE FOR DISTRIBUTION AND APPLICATION OF RATES INFO ETC — ALL ECONOMIC POLICIES WORK TOGETHER.
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Martha – In their professional opinion after being involved in Bond Offerings 100 times more valuable than Iraq’s, one does not make this long of a trip to the 2 leading World Powers with the 3 Leading World Banks IF NOT INTENDING TO MAKE A DEAL to issue debt THAT WILL BE AN OFFERING EXTERNALLY IN THE GLOBAL FINANCIAL MARKETS. Iraq is not here for a lot of talk and no action. They are hopefully here to sell Bonds, signed sealed and delivered in the Global World Markets. To do so, requires a rate and one considerably higher than is presently at 1186. No Country and No Corporate Entity in their opinion are going to buy these Bonds on a promise from a country such as Iraq or any country for that matter with a Program Rate. It will require a RATE INCREASE FIRST. Naturally this is only the opinion of 2 close friends who have over 50 years of experience in the World Global Bond Markets and are Dinar Investors and who have been involved in not Billions…but Trillions of Bond Investments over their long careers. [post 2 of 2]
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Martha – [new guru] I decided to…meet for lunch with two of my close friends who are very active in the Chicago Financial Community who are considered by their peers to be 2 of the most respected Bond Traders around who just happen to also be very large Iraqi Dinar Investors as well…one of them will be at the upcoming meetings in London. Without a doubt, they both said that the United States and London are the 2 leading Bond Market Places in the World. In addition, Citigroup, Deutche Bank and JP Morgan are without a doubt the 3 leading underwriters of the World. Neither of these 2 Countries or 3 Banks are going to be blindsided by a Country such as Iraq. …the names listed representing Iraq on this trip are at the pinnacle of its own financial community. They would not be sending the best if not without orders to get a deal done. [post 1 of 2….stay tuned]
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WELCOME TO ROUND TABLE CHAT w/BGG
Thanks to Dinar Recaps for posting Round Table w/BGG
BGG: I have some commentary “in review” of yesterday…
BGG: Maybe I should have been a little more “tender” with my words. I used the word “RV” apparently currencies don’t do that (otherwise I’m an idiot – according to some commenters). I say… SEMANTICS
BGG: I care very little what terminology gets used. I care about getting things started OFF!!
BGG: Whatever the number – or the term – or what the “title page” looks like – J I’m just looking for THE JUMPING OFF POINT.
BGG: because once it gets going (again) their market will take care of the rest.
~~~
http://www.dinarupdates.com/showthread.php?19697-Bgg-roundtable-9-9-15
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BGG – “...A member of the parliamentary economy calls for the deletion of zeros and the issuance of Banknotes small to strengthen the dinar…” which only means one thing…small notes and strengthening the Dinar = RV – period…as of today we have a member of the Parliamentary Economic committee calling for the RV…my comments are backed up by some very mainstream reports. [How much of a push will that create now that the parliamentary economy has called for an RV?] I’m hoping – a “tremendous push”.
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wmawhite – [Alot of people are now thinking 2016/2017. Any thought s on this?] I continue to believe that the CBI/GOI continue to press forward and that they may reprice/revalue the IQD at any moment.
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tman23 – Think about this for a minute……. Flashback to more Shabibi statements….. The concern of loans to citizens and the documentation including the 3 zeros on the loans and the confusion that follows when lifting the 3 zeros……… They speak frequently about all the different loan programs…….. IMO…I don’t see them opening all the new windows and mechanisms with the inclusion of 3 zero accounting……Saleh says in the coming weeks……NOT SOON…… but coming weeks.
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Millionday – TODAY [TUESDAY] IS THE LAST READING ON THE MONEY LAUNDERING LAW — PER AGENDA —THAT LEAVES A VOTE FOR THE LAW TO BE PUT IN PLACE —I AM SO EXCITED. ABADI ALREADY GAVE THE OK TO LAUNCH THE ECONOMIC REFORM — THEY HAVE BEEN GIVEN THE OK TO RELEASE THE NEW CURRENCY…AND IRAQ IS A DEMOCRATIC COUNTRY.
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Iraqi Dinar/Dollar auction 09-09-15
Currency Auctions Announcement No. 3032 (most recent listing)
This daily currency auction was held in the Central Bank of Iraq on the 09-09-2015
The results were as follows:
| DETAILS | NOTES |
| Number of banks | 24 |
| Number of remittance companies | 11 |
| Auction price selling dinar / US$ | 1166 |
| Auction price buying dinar / US$ | —– |
| Amount sold at auction price (US$) | 198,435,500 |
| Amount purchased at Auction price (US$) | —– |
| Total offers for buying (US$) | 198,435,500 |
| Total offers for selling (US$) | —– |
More: http://dinarupdates.com/blog/
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Aggiedad77 – Article: “Jubouri: Parliament seeks to inter legislation important laws” Speaker of Parliament Jubouri recognizes as many do that Parliament has a number of important laws that await legislation on their part…they must act...they must move forward if they expect to deal effectively with the demands of the demonstrators and the reforms that are being pushed…Parliament is an integral part of this puzzle and they MUST do their part to keep the Iraqi head above water…this is not a time for Parliament to grow stagnan…they must act.
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tlm724 – Article: “Agency US: Iraqi investment bonds “weak” Quote: “the Iraqi Finance bond strength rank B- weak, as shown that this category because of the vulnerability of Iraq’s security and institutional risks impressive on the strength of its economy” had Iraq made better progress with their economic laws up til this point I believe this rating would have been at least a B or B+. now they are wanting to sell these bonds and the confidence in Iraq has not reached a comfortable level Yet and they are gonna feel those repercussions during this sale. they haven’t proven that they can financially operate outside of oil sales after all these years they are still working towards a free market and until they prove themselves financially responsible it’s gonna be a hard sell on these bonds.
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Kaperoni – Article quote: “whenever we were able to strengthen the country’s economy will be reflected on the value of the Iraqi dinar” I think there is a bit of translation error in this statement… it translates as in past tense and I think we all agree Iraq has not strengthened the economy as of yet. So I believe she is confirming what we have been saying for quite a while that as the economy grows, so will the dinar.
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Urgent!! A member of the parliamentary economy calls for the deletion of zeros and…
[Baghdad – where] a member of the Parliamentary Economy and Investment has called for the issuance of Banknotes small to strengthen the Iraqi dinar…
…The prime minister Haider al-Abadi, said on 17 July, said that “the Iraqi currency reserved and have a great economic power, hard currency is because it is backed also that Iraq has the potential and capabilities and we have the blessing of oil,”…
Read More: http://www.dinarupdates.com/blog/
BGG ~ I guess I should have said it like this on the call…
“…A member of the parliamentary economy calls for the deletion of zeros and the issuance of Banknotes small to strengthen the dinar…”
Which only means one thing…
…small notes and strengthening the Dinar = RV – period…
Sooooooo
…as of today we have a member of the Parliamentary Economic committee calling for the RV…
as of TODAY!!
Will they?? who knows…
But someone who sits on the very committee Abadi used be the Chairman of is asking for the SAME THING YOU ARE!!
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Frank26 – Article: “A member of the parliamentary economy calls for the deletion of zeros and the issuance of Banknotes small to strengthen the dinar“ When have You EVER seen a GOI member ask to lift the THREE ZEROS and give them the LD’s? TEAM say the new policy is moving very fast. Days to hours…Not days to weeks. Interestingly good.
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Millionday – Article: “A member of the Parliamentary Economy and Investment has called for the issuance of Banknotes small to strengthen the Iraqi dinar.” THEY HAVE TO OPEN TO THE MARKET BECAUSE OIL IS NOT ALL THEY NEED FOR EMPLOYMENT ETC — SO DUE TO THE ECONOMY AND >>>FISCAL POLICY THE SMALL NOTES ARE NECESSARY—WHOOOPOW.
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Breitling …You have gained, you just don’t realize it yet because people don’t count on the value of the dollar going down. So you’re looking for a hard revaluation…it should have been here…so that is your timeframe…it should have been here. Think about it…They get the note count down to about a billion and it should be around $3 and the last report we got was they were at 4 Billion. You saw what they did with the 50 dinar note. You know they are pulling a little off whenever they can. There is a reason they are coming out with bonds. There is a reason they are after the US dollar. there is a reason they got rid of the note count. There is a reason they passed these laws. [post 2 of 2]
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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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