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Word for the day…
1 John 5:14-15 (NIV)
14 This is the confidence we have in approaching God: that if we ask anything according to his will, he hears us. 15 And if we know that he hears us—whatever we ask—we know that we have what we asked of him.
Heavenly Father, Thank You that we can approach You through Jesus! Thank You for answered prayer! We rejoice and thank You for the good report from Subby that her pet scan came back 100 % clear!! We give You all the Glory, Honor, and Praise, in Jesus Name, Amen.
Mrs BGG
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Everyone has a right to speak; no one has a right to be listened to. – Will Spencer
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*** Current Posts ***
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Corruption, corruption, corruption…
This is the watch word for today… and going forward. Iraq is rooting out corruption and fraud at every turn. This will not be an overnight success – but it may not be required to be a fully complete process prior to some kind of currency reform / value shift.
The world powers spoke out – Iraq responded. This is good for Dinar investors. We should remember that’s what this is – an investment. The big problem is timing… it’s not coming fast enough for most people. I’m with you there. However, none of us control the timing. It’s not a “guaranteed winning lottery ticket” – it’s an investment…
Read More: http://www.dinarupdates.com/blog/
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POPPY3 – I CAN GIVE YOU THE TIMEING OF THE NEW RATE ??? ARE YOU LISTENING?? THE RATE WILL APPEAR THE DAY AFTER THE LIST OF REQUIREMENT GIVEN TO THEM AT THE MEETING 3 MONTHS AGO BETWEEN ALL GOI, PARLIAMENT , UN , WB, IMF HAS BEEN MET AND NOT A DAY BEFORE OR A DAY LATER. WHEN THEY MEET THE DEMANDS – BINGO THEY WILL RELEASE A NEW RATE TO THE GLOBAL MARKETS . WHAT A GLORIOUS DAY. POPPY3
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Mnt Goat – Many…intel “gurus” are now telling you there are two windows of opportunity that the PTB are aiming at for the currency reform mid September and the end of September. I also believe these two alternative timeframes have been set for an RV. Mid September is here and Iraq has not yet completed all the promises from the mid June conference. They have decided to extend the effort for another 2 weeks to the end of September. So do not expect any RV at least until this timeframe. So they will now move to a new target end of September ending as their next date. Iraq is very close to accomplishing the needed tasks… They have less than 2 weeks to pass a couple needed laws but these are the most controversial ones. But the good news they are acting now and now is finally the time. [post 2 of 2]
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Aggiedad77 – Earlier this week you saw they passed the Anti-Money Laundering Law…no whoopla though…then a few articles later…an announcement that the Investment Law was postponed until after the upcoming holiday. …the reforms that Abadi has proposed and is proposing take time to implement…it took Maliki 8 plus years to drag Iraq into the cesspool where they live today…can you honestly expect to see significant change in a couple of months… PM Abadi has his hands full battling ISIS in many areas and attempting to deal with corruption in a HUGE way in other areas…throw Maliki and his thugs into this mix along with the Iranians…he is working…but carefully… he makes calculated moves… he works in a wise manner. We are there now to help, to show him and his government how to get things done in a faster and more efficient fashion…but at the same time we stand in the shadows to allow the Iraqis all the credit.
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Mnt Goat – …many say that Iraq is a sovereign country since they are now out of UN Chapter 7 sanctions (since June 2013) however technically this is entirely NOT TRUE until they get their currency reinstated…they need political and economic stability along with physical security in order to get their currency reinstated. When they hit mid year of 2015 it was apparent that a new strategy and a plan had to be made to “aggressively” push this reform process along… So in this June 2015 time period the PTB called another Paris Conference. Part of the dialogue was to come up this new plan… They asked how they could “pick the low hanging fruit” (prioritize the reforms that would given them the most benefit and can be accomplished in the shortest period of time). They recently referred to these items as the “hasty” reforms. The plan also included sequencing the implementation of the laws so the reforms could work. We know the process now – distribute the lower denominations, launch the 50k notes in circulation, continue the project to delete the zeros to coincide with a significant increase in the value of their currency. [post 1 of 2….stay tuned]
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Breitling – The HCL has nothing to do with what we need to look at. It’s not going to push anything forward or anything like that. The HCL has to do with the country federalizing and what they are going to do with oil.
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tman23 – Regarding Investment Law…Investment law is composed of three legal sources: international law (especially investment treaties), investment contracts between investors and states, and domestic law. At the international level, the main legal instruments relating to investment are investment treaties. These primarily aim at protecting the foreign investor in the host state. The reason for the Iraq Bonds not yet being released for international sales yet… The Investment Law! BUT…Gurus will say it is because they need a (RV) rate… WHICH IS NOT SO!
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Kaperoni – Article quote: “So fund managers say that Iraq will not find buyers for its bonds only if you pay very high returns.” I think they mean investors feel that these bonds are to risky unless they make it worth their while..which is a high rate of return. We will find out soon as a group from Iraq is on their way to the US to try and push these bonds… Quote: “Iraq and systems to promote meetings for investors in London on Thursday and Friday is due to this activity moves to New York, Boston and Los Angeles this week.”
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Deputy for the National: disclosure of the names of a lot of mischief in the next phase
[Baghdad-where] – Deputy for the National Alliance said it will be revealed the names of a lot of mischief in the next phase.
And between Abdul Hadi goodness of God told all of Iraq [where] “should be on the judiciary and the Integrity Commission that determined to take their active role, especially since there is an intention to repair what has been sabotage it in the government of former Prime Minister Nuri al-Maliki.” …
http://www.dinarupdates.com/showthread.php?20457-Deputy-for-the-National-disclosure-of-the-names-of-a-lot-of-mischief-next-phase&p=131131&viewfull=1#post131131
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tman23 – Again……the mystery is the Investment Law ……which has been ready for quite sometime but keeps getting bumped…….there is some sense of timing for this particular law. Bond sales…..Contracts…..and other foreign investments have been held off……….. Recall……Iraq (just) paid off 9 billion plus owed to oil conpany contracts……the new contracts are on hold…….. The new loans set up through reforms have not been opened yet…….. There is a sense that the opening of loans, contracts, and new economy is being delayed until the investment law is passed…..The question is……what comes first…..the removal of the 3 zeros or the investment law……. Then the other fact that I was told…….No money moves until after the closure of private meetings of the post isdd 2015 summit…….where if agreed……world wide infastructure building will be ramped up from double digit billions to several the several trillions…
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Adam Montana – […a lot of us, a ton of us have the 25k note. If the CBI starts retiring more notes once it RV’s at a dime or above, then kept on a market float up, which notes would they eliminate first from 25k downward? From the 100 IQD upwards? How long of a window would we have to trade them in for other safer denoms?] I believe they will start with the 25k and go down, and we should have a window of AT LEAST 3 months, and probably a max of 2 years.
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Millionday – Article quote: “The House of Representatives has held its day of the vote and the reading of a number of draft laws regarding been postponed hosted by Chairman Minister Haider al-Abadi until after the Eid holiday” SO MANY READY AND IN PLACE FOR VOTE ALL AT ONCE — I LOVE IT. SO AFTER EID WOULD LOOK LIKE MONDAY…WED WOULD BE 30TH.
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Parliamentary Integrity: reforms are still weak and will soon overthrow the heads of major corruption
[Baghdad-where] the chief of the Parliamentary Integrity Talal Zobaie, said that reforms of Prime Minister Haider al-Abadi against corruption is still weak, noting that “the days will see the direction the ouster of big heads.”…
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Adam Montana – [The HCL: Any chance of that being resolved before Dec.?] HCL – yes, I do have high hopes for pre-December! [how confident do you feel that an RV may happen before the end of the year?] Provided the HCL goes through, I am optimistic. On a scale of 1-10: Cake.
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Breitling – … it should have been here…we don’t know. What’s going on…what’s the problem? There is no problem, it’s a process. Who knows what it is they’re looking at. We don’t know. That’s a HUGE advantage for Iraq…it’s a huge plus. The way they are managing the rebuild of their country, they are doing it right…they have no control over the political and religious influence one way or the other but they definitely have control over the value of their currency so they can add more value to it and that is exactly what they are doing. [Post 2 of 2]
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BGG – […is MALIKI and his cronies gone…no one knows that if the WB and IMF got what they needed before Oct 1…?] Maliki is not gone (yet) – he is struggling to remain… The WB and IMF (as I understand it) got their deadline met… which further opens the door for MR [Monetary Reform]. on a related note – the auction for the day [Wednesday] goes one step further than yesterday – same $$ amount – spread out over 42 VARIOUS MONETARY OUTLETS!! WOW!! so it would appear the beginning stages of Abadi’s reforms are starting to take hold.
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Join Dinar Updates for a Round Table Chat @ 1:30pm CST – today in the Chat Room!!
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Millionday – THEY ARE RELEASING DOMESTIC BONDS IN IRAQ OCT 1ST WITH A REGULATION IN PLACE IN IRAQ THAT ONLY DINAR IS USED AS THEIR CURRENCY — BACKED BY THE USD AND SOLD ON THEIR MARKET …WHOOPOW.
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tman23 – Well I see the investment law vote was postponed…AGAIN…A mystery indeed. But it certainly leads to the theory that the 3 zeros may be required to be gone before the proceed… And I say this because this investment law is tied DIRECTLY to the iisd summit that has started and will end 10/1…with special meetings for agreements closing 10/5.
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Breitling – The “two year process” has nothing to do with it’s not going to revalue at the beginning. The two year process has to do with reducing the note count, adding value to the currency and adding a new currency to the economy in ABOUT a two year time frame…I say “about” because it’s not an exact science and they don’t have an exact say over it…you can’t just push a button. Is IT around the corner?
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Millionday – Article quote: “The House of Representatives postponed a vote on its second day of the draft amendment to the Law of Investment Law…The House of Representatives has held its day of the vote and the reading of a number of draft laws regarding been postponed hosted by Chairman Minister Haider al-Abadi until after the Eid holiday.” THE AMENDMENT VOTE FOR INVESTMENT IS REPORTABLY POSTPONED AND THE HOSTING OF ABADI. Sep 24 Thursday [to] Sep 27 Sunday Eid-al-Adha holiday National holiday. [do they work on these holidays?] IN WHAT I HAVE SEEN OVER THE MANY YEARS — YES THEY DO. IT IS A NATIONAL HOLIDAY SO THE WORKER IS IMPACTED.
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Chalabi: Detection of “dollar auction gangs” in the Central Bank
Between the head of the parliamentary finance committee, Ahmad Chalabi, on Thursday, the central bank sold to banks own “312” billion dollars under the pretext of import, revealing that the government needs to “115” billion dollars only.
He revealed Chalabi, said the Finance Committee revealed the dollar auction gangs in the bank Central, and reached extensive information, but there is no response from the central bank or from the government according to the source.
Chalabi said “551” billion dollars entered Iraq from 2006 to 2014 “and that” imports of the Iraqi state in full, of food, clothing, fuel and weapons , only “115” billion dollars “do not need, and Acharvi interview told” news “that the central bank sold to banks for import under the pretext of” 312 “billion dollars, equivalent to 270% of the imports of the state.”
http://www.dinarupdates.com/showthread.php?20403-Chalabi-Detection-of-quot-dollar-auction-gangs-quot-in-the-Central-Bank-9-17&p=131056&viewfull=1#post131056
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Backdoc – DO YOU THINK THE WORLD BANK AND THE IMF WOULD GIVE THEM ANOTHER PENNY IF THEY WERE TO BE BLACKLISTED AND NOT DOING WHAT THEY ARE SUPPOSED TO? OF COURSE NOT! EVERYTHING IS ON SCHEDULE…IMO.
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Adam Montana – Man, oh, man… are things moving slowwwwww right now….And even as slow as things feel right now…understand that Abadi IS getting stuff done, and we are DEFINITELY on the right track. I’ll give that two thumbs up, even though we are still waiting on the HCL.
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Mnt Goat – Article: “PARLIAMENTARY DEFENSE AND SECURITY MEMBER CONFIRMS THE EXISTENCE OF US PRESSURES TO PASS THE LAW NATIONAL GUARD” The National Guard…is an URGENT and VERY IMPORTANT law to get passed and implemented. I fully expect them to reconcile any differences in this law in the coming days and we will see this law passed soon.
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BGG – Article quote: “House of Representatives vote on the anti-money laundering and the financing of terrorism law…and the committees concerned to finalize the law…” Which all means it’s probably done now… so the Oct 1st – hard deadline from the WB/IMF is met…what that fully means for Iraq? We wait and see… something – for sure… However, they have put off the Investment Law…(I kind of doubt this delay holds though)… and… it’s not REQUIRED – but it would look better for Abadi…
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Frank26 – PLEASE STOP TELLING ME AND DELTA ABOUT MARCH 2017…WE KNOW THE RUMOR AND SOURCE…18 MONTHS IS ALL THE RESERVES THEY HAVE AND THIS PERSON CALCULATED IT WOULD LAST UNTIL MARCH 2017. SORRY…IOO…THATS DUMB.
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tlm724 – Article: “Urgent .. Parliament postpones vote on the Investment Law and proceed to vote on the money laundering law” I’d be ok if they just get the AML done then they can deal with the paragraphs in the investment law…
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Kaperoni – Article quote: “Finance Committee in the House of Representatives propose to the central bank and the government to adopt “restrictive flotation” in the auction currency...” I do believe, once they stabilize the country and get the economy going, the CBI will float the dinar. How and when that starts is yet to be determined. The good news is these kinds of articles seem to be more frequent.
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Mnt Goat – Sooooooooooo much news coming out of Iraq I can hardly believe the progress and all in the right direction. …I believe it is a critical period we are now entering and all of you should be prepared for anything to happen in the very near future…this timeframe from mid September onward is a critical timeframe for Iraq and much is riding on them completing these economic reforms and other reforms on time.
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Iraqi Dinar/Dollar auction 17-09-15
Currency Auctions Announcement No. 3038 (most recent listing)
This daily currency auction was held in the Central Bank of Iraq on the 17-09-2015
The results were as follows:
| DETAILS | NOTES |
| Number of banks | 27 |
| Number of remittance companies | 4 |
| Auction price selling dinar / US$ | 1166 |
| Auction price buying dinar / US$ | —– |
| Amount sold at auction price (US$) | 170,079,150 |
| Amount purchased at Auction price (US$) | —– |
| Total offers for buying (US$) | 170,079,150 |
| Total offers for selling (US$) | —– |
More: http://dinarupdates.com/blog/
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Kaperoni – Article: “House of Representatives vote on the anti-money laundering and the financing of terrorism law” Quote: “The Presidency has decided to postpone the vote on the draft second amendment to the Law of Investment Law No. 13 of 2006 and submitted by the committees economy, investment and financial study to be ripening and vote the event of a resumption of meetings after Eid al-Adha. The Council voted on a draft anti-money laundering law and the financing of terrorism…And then it decided to adjourn the meeting until Tuesday 29/9/2015” …removing the Investment Law to a later time does not surprise me.
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BGG – “…He said the Information Office of Ebadi said in a statement, said the cabinet approved the draft Cancel the posts of Vice President of the Republic Act…” Cabinet approves bill to cancel the posts of Vice-President of the Republic Act. MALIKI IS GONE (soon)…not only is the CoM wanting to push forward the removal of these crooks (as a law) – but they are also withdrawing ALL the previous junk not voted on yet. IT’S HUGE NEWS!!
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Mnt Goat – …parliament was to supposed to vote on the draft anti-money laundering and terrorism financing law today…This is another one much needed for the reforms…we also see a vote on…the Investment law on the …today. Hurray! …these reforms are tied to reinstating their currency meaning RV time!
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Kaperoni – Article: “Cabinet Approves Cancel posts of Vice-President of the Republic and referred to parliament” Though this sounds good, the key here is the CoM was probably told what PM Abadi’s plan to cancel the vice presidencies was unconstitutional. And so the CoM just wrote a bill to disolve them…and now it says it has been submitted to parliament for a vote. In other words, parliament will decide if they are cancelled or not.
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BGG – [So all the laws are going to be passed all at once? is that correct?] …the AML Law and Investment Law are on the agenda. Anti-Money Laundering Law…This is the one the WB and IMF want…likely pointed directly at Maliki and his corrupt gang. […the iraqi parliament agenda for tomorrow [Wednesday]…says “The vote on the draft anti-money laundering and terrorism financing law.” and “The vote on the draft second amendment to the Law of Investment”.] …sounds like a vote to me. That is good news. [When everything is voted thru, then when is it Implemented…When should they Revalue or RV?] value can happen anytime… these are just things that OBVIOUSLY open the door wide for monetary reform…but there is nothing that says they can’t do whatever they want when the “obstructionists” are well “on the ropes”. [All the laws are NOT needed for international acceptance.] you are correct.
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tlm724 – Article: “Selling foreign bonds to fill budget deficit” I don’t think they will have much trouble selling these bonds after tomorrows vote on the AML and investment law, those laws will provide a certain level of confidence.
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The agenda of the session number (23) Wednesday 16 September 2015
The third parliamentary session
The second legislative year
The first legislative term
First, read verses from the Koran.
Second: The vote on the draft second amendment to the Law of Investment Law No. (13) for the year 2006.(Commission of Economy and Investment, the Finance Committee). (17 articles).
Third: The vote on the draft anti-money laundering and terrorism financing law. (Finance Committee, the Integrity Commission, for the security and defense committee, the Legal Committee). (Article 57).
Fourth: The second reading of the draft regulation of human organ transplantation and prevent trafficking by law. (For the Health and Environment Committee, the Committee of Awqaf and Religious Affairs). (Article 31).
Fifth: The second reading of the draft law of private security companies. (Commission on Security and Defence). (Article 42).
Sixth: The second reading of the draft universities and colleges civil law. (Higher Education Commission, the Legal Committee). (Article 56).
Session starts at: ten in the morning.
Read More: http://www.dinarupdates.com/blog/
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Aggiedad77 – …Parliament tomorrow…voting on not one but two important laws…Investment Law AND the Anti-Money Laundering Law...stellar on their part if they pull it off…then the cherry on top of this ice cream soda is the presence of PM Abadi in Parliament. A reschedule of his cancelled visit from last Thursday that was postponed as he put one foot inside the Parliament then had to leave for “emergency reasons”…Will he be handing out pink slips to Parliament members who have over stayed their welcome by not showing up for the dance each week…or is he going to roll those corrupt heads out of Parliament. Or maybe just tell them we are transitioning to a democratic process and as a result your services will no longer be needed in their current capacity but if you are an honest bloke we might have room for you in our new Congress…who knows…maybe he just wants to visit.
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Tlar – …the CBI admitted in an article that they had planned to implement but postponed deleting the zeros four times in the last four years. Maliki had put up so many obstacles and roadblocks culminating in an arrest warrant on Shabibi. Ultimately while PM Maliki did arrest a lot of the top guys running the CBI including Saleh, Shabibi’s right hand man. Abadi exonerated Saleh and made him his personal economic adviser. So Abadi is doing all the right things but because Maliki is trying to thwart his every move and kill the reforms, the going is slow. Abadi will get the reforms done and will clean the government of all the corrupt officials as long as he is not killed. We will eventually see our RV that should have happened as far back as 2010. Iraq has no choice if they are to ever open their economy which they desperately need to do. If Abadi can get the requirements of the IMF and the WB done by October there is still a possibility we could see it then but that’s a tall order. I think it will more than likely be January. [post 3 of 3]
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Tlar – He is also trying to get rid of the head of the Judiciary, Maliki’s guy and has intentions to replace the head of the CBI. He wants all qualified technocrats running all positions in government and has stated publicly that he will give the jobs to the most qualified people paying no attention to secular quotas. The reforms are meant to get rid of corruption in Government and to punish corrupt officials that have been stealing the society blind for the last 8 years under Maliki. The reforms are also intended to recoup the stolen funds and right the wrongs under Maliki. This includes most of the politicians over there. The people in Iraq are solidly behind him and are demonstrating in the streets supporting his reforms. My only fear is as they start to prosecute the bad guys, they will try to assassinate Abadi, but Abadi has stated publicly that he will see the reforms through even if it costs him his life which to me smells of his getting death threats. Prosecutions and arrests are already being made. Over 300 people including politicians are no longer allowed to leave the country. Arrest warrants are being issued to round up the corrupt. On a good note… [post 2 of 3….stay tuned]
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Stryker – Today Abadi’s Cabinet Approves Maliki’s Exit and the withdrawal of Maliki’s Governments Laws! Vice-President Maliki is History.
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Tlar – I am afraid that the dinar will not happen this year. October has a chance but I am thinking January 2016 is most likely more realistic. Abadi, the prime minister is in the process of cleaning house of all the corrupt politicians that Maliki had put in place. Maliki himself will most likely be on trial soon as they are preparing charges against him. But this is Iraq and anything can happen. The IMF and WB both have put conditions on Iraq that they must clean house and get rid of corruption and pass the money laundering law by October 1st. Its an uphill battle but all the religious guys including Hakin, Sadr and al-Sistani are behind Abaidi and his reforms. Parliament voted unanimously to support a list of things in support of Abadi and his reforms going so far as giving him the power to eliminate the parliament itself and start over. Abadi has relieved the three presidencies abolishing them altogether. Allawi, Maliki and Najaifi are all supposedly out of a job and are no longer considered a part of the government. All three have refused to go away so that will be another fight for Abadi. [post 1 of 3….stay tuned]
BGG ~ I don’t agree – so posting this isn’t meant to imply some kind of endorsement of this point of view…
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BGG – [do you think the WB will really blacklist Iraq if they do not get everything done by the 1st…or is that just a loud threat?] I think they would – but I also think Iraq will get the AML Law passed (or close) before then…and I suspect as long as the vote is taken – (or some other serious effort) they will be fine…obviously, it’s not just the Law they want – they want it enforced. NO MONEY LAUNDERING…so the point is – it’s not just the Law – it’s Maliki they want (and everyone else it seems)…
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BGG – …bonds or no bonds – they need monetary reform ASAP AND they have to deal with the corruption – PERIOD. I think (IMHO) once Maliki is fully marginalized – an “emergency currency move” (up – not down…) become a very real possibility. Abadi needs the money to keep after ISIS.
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Bluedog – SO THE U.S. STORMS THE CBI… CBI IS IN FULL OPERATION? DO NOT THINK SO TO THE OPEN EYE…THEY TRAINED PEOPLE TO FILL THOSE POSITIONS…MOVING THINGS AROUND A BIT AND GAINING CORRUPT MOVEMENTS…IM SURE THERE WERE SOME BAD EGGS THAT GOT ARRESTED OR DETAINED… MEANWHILE MEETINGS PLANNED IN EUROPE AND THE USA WITH ZEBARI AND SALEH DID NOT BEAR FRUIT... THE GOI IS IN THE SHUFFLE MODE…OVER ONE HUNDRED OFFICIALS FIRED LIKE TRUMP WOULD DO AND NEW ONES MOST TRAINED IN THE USA FOR SUCH A TIME AS THIS. HANG IN THERE…THEY ARE JUST ABOUT TO TAKE A BOW FROM THE CENTER STAGE OF THIS PERFORMANCE BUT YOU GOT TIME TO HIT THE LOBBY FOR POPCORN…THE INTERNET IS DOWN…NOW IS YOUR CHANCE GET A LARGE SODA TOO…BEFORE THE CURTAIN OPENS BACK UP…IMO.
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Aggiedad77 – …it would seem the COM (Council of Ministers) was overly busy today… they approved the cancellation of the VP and Vice PM positions…But to me just as important, maybe more so…they approved the withdrawal of all laws directed to Parliament by the previous government (Maliki) basically making those efforts null and void…after that…they approved a mechanism for payment for stalled projects or projects that were lagging due to lack of funds…interesting to say the least this last effort…Coming at at time when liquidity was an issue…but remember all the funds that have been flowing back into Iraq…back into the banks from the thievery and corrupt efforts that have been nailed by the Integrity Commission…
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Cabinet approves bill to cancel the posts of Vice-President of the Republic Act
Khandan – Iraq’s Council of Ministers held on Tuesday, its regular-sixth session under the chairmanship of Prime Minister Haider al-Abadi, discussed in the beginning of the meeting developments in the military and security situation, and a number of issues on its agenda. He said the Information Office of Ebadi said in a statement, said the cabinet approved the draft Cancel the posts of Vice President of the Republic Act and submitted it to the House of Representatives based on the provisions of Articles 61 / item I, 80 / item II of the Constitution. The Council decided also that the Ministry of Agriculture adoption of support by 80 percent of the total cost of the seeds of wheat and barley crops. and approved by the Council of Ministers the withdrawal of laws sent projects to the parliament by the previous government for the purpose of review…
Article brought in from Holly1 from the Chat Room (posted by Mrs BGG this AM)
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Millionday – Article quote: “And witnessed the Investment Law No. (31) for the year 2006 to make some amendments to paragraphs and materials, which is likely to approve the next two days…” THIS IS THE ANNOUNCEMENT OF PLANS TO HAVE THE INVESTMENT LAW ACTIVE. THE ANNOUNCEMENT IS FOR THIS TO BE DONE TODAY [MONDAY] OR TOMORROW. THEY ARE EXPECTING THE NEW LAW TO ATTRACT INVESTMENT BUT ARE RELIANT ON THE CONDITIONS TO CHANGE…IT IS APPARENT THAT THE LAWS ARE EXPECTED TO BE COMPETITIVE WITH OTHER INTERNATIONAL INVESTMENT LAWS — THIS SHOWS THE GOAL IS TO GO GLOBAL AND THE LAW IS TO BE DONE WITHIN DAYS.
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Mnt Goat – They also told us it would be paid out on the new “National” card and not their current Q –Card of SMART card. We know they plan to combine the two cards into one card…I have to tell you there were still hundreds of thousands of citizens who did not receive there cards… They are preparing to pay out on HCL oil revenues. Yes – once again this is their intention. They MUST distribute part of this oil revenue to the people as in the HCL law. The HCL is not complete without these ongoing rolling payments to the citizens. This must be done prior to any RV. This is why these cards are so important. This means they are getting serious about it once again. When they begin using these new National cards they want the ability to make these payments to be an international usage. [post 2 of 2]
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firefly – …found this VERY interesting. It is from CNN dated today: “Iraq plans bond offering for brave investors” So all those people telling us the bonds went on sale and are a failure…well…THE BONDS HAVE NOT GONE LIVE YET!
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Iraqi Dinar/Dollar auction 15-09-15
Currency Auctions Announcement No. 3036 (most recent listing)
This daily currency auction was held in the Central Bank of Iraq on the 15-09-2015
The results were as follows:
| DETAILS | NOTES |
| Number of banks | 26 |
| Number of remittance companies | 10 |
| Auction price selling dinar / US$ | 1166 |
| Auction price buying dinar / US$ | —– |
| Amount sold at auction price (US$) | 171,235,470 |
| Amount purchased at Auction price (US$) | —– |
| Total offers for buying (US$) | 171,235,470 |
| Total offers for selling (US$) | —– |
More: http://dinarupdates.com/blog/
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Mnt Goat – …the recent blocking of the internet in Iraq has nothing…to do with the preparation for the RV. By blocking the internet Abadi has also blocked a strategic means of ISIS and DAASH communications. Another rumor to I must also discount today is about the reports that conquerable by military forces by American or Iraqi, that stormed the CBI and confiscated documents going back to 2003. The next piece of juicy news is about the National Unified cards. We all know, as it has been confirmed, the Iraqi citizens currently have a Q- card (or SMART card)…It is NOT yet fully international until the currency is turned on in the international exchanges. In April of this year the told us they wanted to begin payout to the citizens of the oil revenues. [post 1 of 2….stay tuned]
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Kaperoni – Article quotes: “We don’t see an immediate devaluation but we see more pressure on the peg the longer the situation continues as buffers get eroded.” “Concerns that oil-dependent economies may abandon their pegs intensified after Kazakhstan allowed its currency to float…” They won’t devalue. They just need to stay pegged long enough for the economic reforms/loans to take hold and then they can begin the float.
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BGG – …it appears the CBI sales are retreating and the Dinar is remaining stable (if not starting to strengthen)… this means less corruption – more confidence. I am plenty excited to see what Abadi’s reforms bring and how quickly it all comes together – because, quite honestly – that IS THE WHOLE BALL – GAME right now.
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Parliamentary Finance: strong and modern Iraqi dinar opposite just rumors
Zora / Duraid Salman: Parliamentary Finance Committee has ruled out the possibility for the collapse of the Iraqi national currency against the backdrop of the financial crisis that beset the country, and described the news you are talking about as “rumors” promoted by some currency traders in order to achieve an illegal advantage, as he emphasized that oil imports enough yet to pay salaries Mozvin.oukal Committee member Masood Haider Rustam told the “Zora”, yesterday: news that talk about for the collapse of the Iraqi national currency due to the financial crisis, are just “concerns incorrect and untrue,” attributing the cause to that of the Iraqi dinar strong enough to withstand .
Rustam said: that the amount of the Iraqi dinar circulating in the market currently estimated at about 40 trillion dinars, and Iraq has a financial reserve of hard currency is estimated at 60 billion dollars, that is as much as 150% of the Iraqi currency…
Read More: http://www.dinarupdates.com/blog/
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Mnt Goat – There is nothing in the grey side or mysterious about why they are stalling the change over of the currency…they had postponed the currency reforms due to three reasons: 1) money laundering and bad banking practice. 2) wide spread corruption. 3) security reasons. Nothing grey or mysterious about it…So Iraq must first make the necessary changes. The reforms and the laws needed to back them up and implement them are needed first. It’s not all about the RV. The RV is simply a by-product of the process of bringing the country of Iraq online with the international community and do it such a way as to created stability and progress in their country and in the region.
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Bluedog – SECURITY HAS BEEN SET FORTH IN IRAQ ALONG WITH THE IMF…THEY JUST WANT THE CBI TO BE SECURE AND TRUST WORTHY AS IT HAS BEEN A DEN OF THIEVES SINCE SHABIBI LEFT. WHERE IS THAT NATIONAL GUARD LAW HMMMMM WAITING FOR FUNDING AS I TOLD YOU…WHEN YOU SEE THAT PASSED THEN YOUR GOLDEN…ALL IMO. OH…THE CBI…GIVE THAT SOME ROOM TO BE CORRECTED THEN YOU WILL SEE A CHANGE IN PLANS. [post 2 of 2]
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tman23 – Word was 9/8 there was a change coming to the CBI… 9/8 was to be a big day for Parliament and Ministers… what happened on 9/8…A deputy minister of the judical was kidnapped…his body guards were released which is strange… So Abadi cancels meetings and holds special meeting late night… Then Abadi goes to appear in front of Parliament Thursday for a speech…gets to the doors and turns around as an emergency situation came up…Then the CBI news of troop takeover… BUT…similar events had happened in the past only different scenarios…meaning when they get close to changing something, somebody starts a fire in the hallway.
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Bloomberg: Central Bank sees limited risk of devaluation
Tomorrow/Baghdad: the Governor of the Central Bank, Mohsen Al-allaq, said Iraq has enough foreign reserves to maintain the economic status, but has not ruled out devaluation of the dinar to support affected government revenues due to falling oil prices and the cost of war against daash…
BGG ~ Right after this Doomberg article I assured everyone – not to worry, this whole article is based on comments by the “Maliki-proxy” Gov of the CBI (who probably won’t be there much longer)…
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Bluedog – FOLKS AS YOU SEE IRAQ AND THEIR MOVEMENTS…AS YOU SEE THE NATIONAL GUARD LAW SITS IN LIMBO AND YOU KNOW HOW I FEEL ABOUT THAT [Reference Bluedog post 8-30-2015]. TODAYS NEWS TELLS YOU THAT THE CBI IS UNDER SEIGE AND SOON THEY WILL HAVE THOSE FACTS OF WHAT HAS GONE ON AS EVIDENCE. ALAK…SOON WILL DISAPPEAR. WILL SHABIBI BE BACK…WELL MAYBE IF HIS HEALTH ALLOWS BUT FOR ONE MINUTE NEVER DOUBT HE HAS A GOLDEN PERSON IN MIND AS HIS POWER IS LIKE GOLIATH. [post 1 of 2….stay tuned]
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tman23 – On Thursday, Prime Minister Haider al-Abadi apologized for ((NOT)) attending the parliament session today for “emergency reasons,” after minutes of arriving at the parliament building… (( AS I “heard”… and posted mid august…there was to be a move against the CBI on 9/8…specific to the fact that Alak (Moshen Ismail) was going to be replaced… No word on his being replaced…But by the news coming out…there is “something” going down at the CBI that is out of the “norm”…
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BGG – …the S.F. in the picture did not look like U.S. Spec Ops…it sounds like Maliki’s bunch deflecting attention by blaming Abadi’s raid on the CBI on the U.S. – much like blaming the U.S. for the National Guard Law – saying it is a “Joe Biden” attempt to divide the country… when in reality – it is just the opposite. It is a “balancing” of the armed forces in Iraq and not letting them run around under the direction of warlords and Maliki while he is in exile! [so you feel Maliki has left now?] I am not sure – but he wasn’t in the meeting of top Shia leadership yesterday. [I guess the next few day will tell us, if he doesn’t appear when all these reforms get activated then we know he is on the run.] yes we will.
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Iraqi Dinar/Dollar auction 14-09-15
Currency Auctions Announcement No. 3035 (most recent listing)
This daily currency auction was held in the Central Bank of Iraq on the 14-09-2015
The results were as follows:
| DETAILS | NOTES |
| Number of banks | 25 |
| Number of remittance companies | 10 |
| Auction price selling dinar / US$ | 1166 |
| Auction price buying dinar / US$ | —– |
| Amount sold at auction price (US$) | 180,634,453 |
| Amount purchased at Auction price (US$) | —– |
| Total offers for buying (US$) | 180,634,453 |
| Total offers for selling (US$) | —– |
More: http://dinarupdates.com/blog/
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Nova – WE MUST TAKE WHAT WE READ AND LIVE WITH THE FACTS. WE ARE TOLD THAT THE SDR IS COMING IN OCTOBER OF 2015. WE ARE TOLD THAT THEY ARE GOING TO SELL INTERNATIONAL BONDS IN SEPTEMBER OF 2015 IN THE IQD. THEN AT THE LAST MINUTE THEY SAY WELL WE ARE HOLDING ON THE SDR TILL LATE 2016 AND WE ARE SELLING EUROBONDS. THEY TELL USE THERE RELEASING THERE NEW CURRENCY IN 2017.
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BGG – Article: “Central Bank denies the news of the storming of its building by military force” along with this article – released at the SAME TIME was the list of “money launderers” touted by Chalibi… that is a MUCH HARDER report to attack...it’s easy enough to say “that never happened”…it’s another thing entirely when a long list of “known Maliki associates” gets published with it… my take – they are attacking corruption at every level.
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tman23 – Article: “Central Bank denies the news of the storming of its building by military force” Think about it…Iraq is active and trying to sell international bonds…An attack on the CBI would not fall on the favorable side…so could it be as simple as more security! There has been opposition to Iraq’s monetary reform…Iraq is moving forward with it…That said…it is not unbelievable that military forces are at the CBI…but bet your last dollar they are not US military forces… AND bet they are not storming through the CBI auditing Iraq’s money.
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Iran behind assassinations and abductions in Iraq
http://www.dinarupdates.com/showthread.php?20034-Iran-behind-assassinations-and-abductions-in-Iraq&p=130583&viewfull=1#post130583 …
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My Ladies – WELL GUESS WHAT EVERYONE THERE IS NO SUCH THING AND IF THERE WERE SUCH A TRIGGER THERE IS NO SUCH “STORMING” OF THE CBI THAT WOULD BE NECESSARY TO ACCOMPLISH THE TASK. WHEN THE DINAR RE-PRICES IT IS A VERY SIMPLE ADJUSTMENT IN THE SYSTEM AND IT’S DONE! MONDAY WILL COME AND WE WILL STILL BE HERE AND THEN NEXT MONDAY WILL COME AND WE STILL BE HERE AGAIN. THE CBI INCIDENT IS JUST ONE MORE STEP IN THE REFORMS… IRAQ CAN NOT REPRICE UNTIL THE SYSTEM AND THE MATH IS CORRECT FOR IT TO HAPPEN. THAT SYSTEM AND THAT MATH IS ORIGINATING OUTSIDE OF IRAQ…WE NEED TO UNDERSTAND MUCH MORE THAN IRAQ AND THE TIMING IS SO OBVIOUSLY NOT THIS WEEKEND FOR IRAQ. [post 2 of 2]
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Kaperoni – Article: “Parliamentary Finance: misguided policies were behind the decline in the Iraqi Central Bank reserves” Well..it’s basic math..if you are going to sell more than you make, then your reserves go down. The solution is to sell less, increase revenue or get off the peg and away from the auctions.
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My Ladies – WE ARE IN THE NEW BANKING SYSTEM, BUT WHAT DOES THAT MEAN? DOES IT ME AN “RV”? DOES IT MEAN BIG PAY DAY FOR US? NO IT DOES NOT. IT MEANS THAT CHANGE IS COMING AND IS MUCH NEEDED. WILL THIS HAPPEN OVER NIGHT? NO IT WILL NOT. MANY FOLKS JUMPED AT 2 ARTICLES THAT CAME OUT YESTERDAY IN A PAPER FROM EGYPT TALKING ABOUT THE CBI IS UNDER CONTROL OF THE USA…SOME…EVEN TOOK THIS TO MEAN THAT THEY MUST BE THERE TO BE PROTECTING THE PULLING OF THE TRIGGER FINALLY. WELL I JUST HAVE TO ASK WHAT DOES THAT EVEN MEAN? “THE PULLING OF THE TRIGGER?” [post 1 of 2….stay tuned]
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Parliamentary Finance describes the stages of the reform of the country’s economy: Urgent and progressive taxes and Customs
Special scales News – He said the parliamentary finance committee member Haitham al-Jubouri, Sunday, on the progress of the government and the Parliament towards achieving the economic reforms of the country through two phases “hotfix” and “gradual reform”.
Jubouri said L / scales News / “The government is taking major steps to reform the country’s economy as a whole,” stressing that “there are urgent steps to activate the taxes and customs in real time.”…
http://www.dinarupdates.com/showthread.php?20033-Parl-Fin-describes-stages-of-reform-Iraq-s-economy-Urgent-amp-prog-taxes-amp-Customs&p=130582&viewfull=1#post130582
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Frank26 – Article quote: “special forces stormed the Central Bank of Iraq a little while ago and has custody of the documents and all the documents from 2003 to the present day…” Told You this week would be something epic…There is much more to come. Told You 1…2…3 needed. 3 is on fire… This article is but an apex.
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Millionday – Quote: “According to a statement of the Central Bank «morning» received a copy of it is set to start events that will continue for two days in Albannaah capital Beirut on Tuesday in the presence of the Iraqi Central Bank Governor…” THIS IS THE REPORT OF CBI AT THE ECONOMIC FORUM —THEY EXPLAINED PLANS OF ECONOMIC REALITY… THE FORUM IS GOING ON RIGHT NOW… THEY WANT THE IRAQI ECONOMIC REALITY AND BANKING IN IRAQ TO BE THE CENTER OF IT ALL — LEBANON HAS BANKS IN IRAQ SO OBVIOUSLY A PUSH/HOPE IS WHAT MANY ARE LOOKING FOR. THE AMF [ARAB MONETARY FUND] RATES WILL IMPACT IRAQ DUE TO THE MASSIVE BUSINESS AND TRADE EXPECTED AND OF COURSE THE MARKET — BANKING REFORM — THE IRAQI DEVELOPMENT ETC ETC. NOTE – MANY REPORTS ARE EXPRESSING THE GLOBAL GOAL OF IRAQ — NOTE — DO NOT FORGET THE MANY ECONOMIC FORUMS /MEETINGS GOING ON RIGHT NOW — HUGE WEEK — HUGE.
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BGG – [19 days till october 1 what do you think BGG?] IMHO – they will satisfy the WB and IMF before Oct 1 (by all appearances).
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Iraqi Dinar/Dollar auction 13-09-15
Currency Auctions Announcement No. 3034 (most recent listing)
This daily currency auction was held in the Central Bank of Iraq on the 13-09-2015
The results were as follows:
| DETAILS | NOTES |
| Number of banks | 23 |
| Number of remittance companies | 6 |
| Auction price selling dinar / US$ | 1166 |
| Auction price buying dinar / US$ | —– |
| Amount sold at auction price (US$) | 164,878,281 |
| Amount purchased at Auction price (US$) | —– |
| Total offers for buying (US$) | 164,878,281 |
| Total offers for selling (US$) | —– |
More: http://dinarupdates.com/blog/
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Poppy3 – they told abadi get this corruption stopped now…he ask by what means…they told him what ever it takes to move forward now at any cost…1 hour later US troops took over the Rasheed CBI BANK which is where Maliki has been laundering and stealing their money. ADABI HAS ORDERED AN AUDIT IMMEDIATELY FROM 2003 TILL TODAY. THE BLEEDING SHOULD BE STOPPED AND REFORM WILL CONTINUE TO MOVE FORWARD FAST.
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Memphis – Article quote: “Urgent / Iraq “special forces stormed the Central Bank of Iraq a little while ago and has custody of the documents and all the documents from 2003 to the present day…” so Iraq is again a sovereign nation giving US forces free reign to storm the offices of their central bank; this story carries as much truth as when Shabibi had to flee by jet to Switzerland to avoid arrest only to appear at a symposium in Jordan a short time later. I can believe the event, just question the splainin’.
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tman23 – October 2012 Shabibi went to Japan for conference, during that visit Maliki placed a warrant for Shabibi’s arrest…….. Lebanon is who has been working with Iraq on lifting the 3 zeros (not Turkey as Guru TD would claim from his inside source)…. When that arrest warrant came out for Shabibi (to be specific) he was in Tokyo…..The Central Bank Governor of Lebanon, Riad Salameh…In 2012, Governor Salamé chaired the IMF and World Bank Boards of Governors held in Tokyo. He chairs the following bodies: the BDL Central Council, the Higher Banking Commission, the AML/CFT Special Investigation Commission and the Capital Markets Authority. Salamé is member of the Board of Governors at the International Monetary Fund (IMF) and the Arab Monetary Fund (AMF)……. Recall the recent articles of Maliki and “funds” in Lebanon….. Also….Recall that Ali Alak (CBI governor) from articles (several) was said to be traveling with the Iraqi Bond roadshow to the US and London…… Yesterday an article places Ali “Keywords” in Lebanon…….. Ali Akabar is the Deputy Governor of the CBI……. So which is it? Ali Keywords in Lebanon…… Do we have one in the USA and one in Lebanon…… and TAKE [SPECIAL] NOTE!!…..during the absence – report of a “raid” on the CBI…
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Dinar Updates retweeted
Reidar Visser @reidarvisser 7h7 hours ago
With both Sistani & Sadr addressing Turkish hostage issue, seems fair to assume captors are indeed Shia. But also highly marginal ones.
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Tman23 – On Thursday, Prime Minister Haider al-Abadi apologized for((NOT)) attending the parliament session today for “emergency reasons,” after minutes of arriving at the parliament building…… ((( AS I “heard”….. and posted mid august)))……there was to be a move against the CBI on 9/8……specific to the fact that Alak (Moshen Ismail) was going to be replaced……. No word on his being replaced…….But by the news coming out…..there is “something” going down at the CBI that is out of the “norm”……
BGG ~ great word Tman23 – good job sticking to your info…looks like (generally) something is up there…
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Backdoc – TODAY ON BLOOMBERG I HEARD THAT MITCH McCONNELL, SENATE MAJORITY LEADER, SAID THAT THEY MAY TAKE ANOTHER VOTE IN A WEEK OR SO TO MAKE SURE THAT NOBODY HAS CHANGED THEIR MIND! MMMM…NOW THAT’S INTERESTING. WHY WOULD HE DO THAT? HE ALSO SAID IF THERE WERE NO CHANGES ON THE VOTE THEY MAY ACTIVATE THE SANCTION RELEASE PROCESS ON GUESS WHAT DAY? NO SURPRISE TO ME… OCTOBER 8TH!! A NEW BEGINNING AGAIN? MY NOSE IS TRACKING IRAN! IT’S ALL ABOUT THE DEAL! I SMELL A RELEASE OF MANY ASSET BACKED CURRENCIES IN THE VERY NEAR FUTURE! JUST LIKE THEY SAY IN IRAQ… ALL IN ONE BASKET! [post 2 of 2]
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BGG – Article quote: “special forces stormed the Central Bank of Iraq a little while ago and has custody of the documents and all the documents from 2003 to the present day…” I think the storming of the CBI – is the MOST STUNNING news of the YEAR…they have been monkeying around with these jokers politically – then BAM!! S.F. rolls in and scoops up all the documents – ask yourself why? S.F. storming in and grabbing up documents is not a political solution – it is a very serious criminal/trial/evidence solution…and THAT is likely why Maliki did a disappearing act. it appears…to be some cooperation between Abadi, Parliament and whomever moved on the CBI – I doubt very much it was the US. sounds like they are going after this corruption – full force.
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Dinar Updates @DinarUpdates now
Exclusive: America controls the Central Bank of Iraq
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Backdoc – SO MANY FOLKS KEEP ASKING ME TO BITE ON THE FORBIDDEN APPLE… “DATE OR RATE DIAGNOSIS PLEASE DOC!” THAT DECISION IS UP TO OZ AND OZ ALONE! WHY? SO THERE WILL BE NO DOUBLE DIPPING TO PREVENT FRAUD! (Oz=IMF, WORLD BANK, U.S.TREASURY, AND CBI) WE NEED TO TRACK THE SCENT RIGHT? AS I’VE SAID, “BECAUSE IT’S ALL ABOUT IRAQ IT’S NOT ABOUT IRAQ”! WHO HELD MASS AMOUNTS OF DINAR THAT NEEDED TO BE RETURNED? IRAN! IS IT RETURNED? YES! WHO HAS THOUSANDS OF TROOPS IN IRAQ TO CONVENIENTLY BE THERE AND ACT LIKE THEY ARE THERE TO HELP? RIGHT AGAIN…IRAN! [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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Commercial Solicitation
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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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