Word for the day…
Philippians 4:6-7 (NKJV)
6 Be anxious for nothing, but in everything by prayer and supplication, with thanksgiving, let your requests be made known to God; 7 and the peace of God, which surpasses all understanding, will guard your hearts and minds through Christ Jesus.
Heavenly Father, Thank You for Your peace that surpasses all understanding! Thank You that we can bring our requests to You with thanksgiving. In Jesus Name, Amen.
Mrs BGG
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The Constitution is not neutral. It was designed to take the government off the backs of people. – Supreme Court Justice William O. Douglas
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*** Current Posts ***
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Poppy3 – The other part of this plan was introduced to the world as Basel Accord, by George W. Bush in 2006 when he first introduced the idea of changes to world wide banking policy. This was a very good idea in my opinion. THIS WAS JUST AFTER GWB WAS CONVINCED BY ALLEN GREENSPAN AND DICK CHENEY CONVINCED HIM THE REVAL OF THE DINAR AND PRE-NEGOTIATED RATE FOR THE US TO BUY OIL FROM THEM WILL ALLOW THE AMERICAN TAX PAYER NEVER HAVE TO PAY FOR THE WAR IN IRAQ AND CONVINCED HIM TO SIGN INTO LAW 13303 SO THE PUBLIC AND CORPORATION IN AMERICA COULD BUY DINAR. ( HE TOLD THE PUBLIC THIS SEVERAL TIMES). [post 1 of 2….stay tuned]
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BGG – Article quotes: “…announced Rafidain Bank on the use of cards ironing Card and MasterCard in employees and retirees pay the salaries. “adding that “retirees who are abroad now can receive and withdraw their salaries from any ATM in any country It is in it.” ...it appears retirees can use their cards anywhere in the world – likely because of the MasterCard deal. I doubt it automatically guarantees an “internationl rate”…it appears the deal with MC allows them access.
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Poppy3 – [September is history…especially with Parliament out till the 29th… …why the wait if they are in such a hurry?] international banking rules and regulations they haven’t met yet…the international banking laws approved and met but their government and international rules keepers like the IMF, WB, UN FINANCE COMMITTEE. ETC ETC. …these are all things they are pushing as fast as possible daily now but governments and legals move slow in…regardless of the hurry. WE ARE IN GREAT PLACE AND OUR INVESTMENT GETTING MORE PROMISING EVERYDAY.
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Eagle1 – News out of Iraq…we have a report that Iraq passed the Anti-Terriorist Law and the Finance Responsibility Law…passed that, and that wiped out a whole fistful of laws Maliki had on the the books that allowed him and his cronies to steal big time from the government. The International Investment Law was tabled until next Monday, the 21st. Whether they take the vote or bump it out a few days, no one knows, but what makes this law significant is the law has no teeth if we don’t have an RV, or a raise in value so that it is at least on par with the U.S. dollar where it’s got some worth to it. If they don’t make the dinar at least on par to the U.S. dollar than this Investment Law really makes no sense. If they pass that law you can expect to see an RV.
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tman23 – Abadi made a statement a few days ago that he was not going to conduct business through the media…That has pretty much been the status quo of the top powers who count. Anything that is “market sensitive” which includes monetary reform is not going to be hashed out in public or through the media…. They may talk about laws and reforms but none of it will ever indicate outright that the currency will appreciate overnight in value.
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FrostyTheSnowman – …two questions on my mind. #1 – When will Dr. Shabibi be exonerated … including his trusted colleagues so they can return to work with honor? #2 – Where will the 12’s final chess piece land? (In Iraq’s favor … or Iran’s?) IMO — lock-up M [Maliki] … and you lock-up Iran. Perhaps then will Dr. S be free to RV.
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BGG – Your thoughts and beliefs on this post: “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.” I agree…plus they have a “patch work” of oil laws that would work fine.
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tlm724 – Article: “Parliament surprised by the government’s decision to withdraw 100 law including “federal” and “Service Board“. this is interesting… there is controversy about the COM deciding to back burner these laws but it was done to make sure the laws are up to speed with the reforms, the laws were done during Maliki’s term so I would do the same thing. PM Abadi obviously wants the financial laws front and center, as do we…
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Breitling – Wall Street Journal Article “Stalled oil project weighs in on Iraq“…is this going to be a curse on the dinar being revalued? No it is not…it’s completely the exact opposite. That’s their play. That’s their back door. That’s they’re way out. What does Iraq have that nobody else has? The Iranian Rial is at market rate. The Saudi currency is at market rate. Guess what’s not at market rate? It’s the Iraqi Dinar. It’s a huge play. Huge plus for us. Huge plus for Iraq. They can make up for this stuff [glut of world oil/lower oil revenue]. They can double their wealth just by…adding value to their currency that should be there in the first place. Ok, that’s a great strategy, how do we know they are going to do that? It’s what we are always looking at…they are taking currency off the market. They are setting it up in order to do that. It’s good news for us. It puts Iraq’s back up against the wall to get them to use their number one option…their currency…their number one defense. And you and I are sitting on millions of it. That’s what we’re hoping for and that’s what we’re looking at.
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BGG – Article: “Najiba Najib: adoption of the investment law will help solving the problems of the financial budget” First – when is the Investment Law coming and exactly where does this law come up with the revenue to make good and this budget problem? OK – “reportedly – the Investment Law is coming soon” and secondly – good news to hear Najiba Najib talking like this but worth pointing out – she is the MP calling for an RV recently (value, increase, whatever you want to call it…). So there it is – soon and she’s calling for an increase in value – as an answer to their budgetary crisis… [how much weight does she have on making them do what she wants?] MP and sits on either the Economic or Finance committee…
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Millionday – Article quote: “Endorsed President Dr. Fuad Masum, the political parties law passed by the House of Representatives in 27 of last August, and while stressing the need to ensure the success of the national reconciliation...” THE PRESIDENT HAS CALLED FOR ALL LAWS TO BE RESOLVED AND HAS SIGNED THE LAW OF PARTIES…HE IS PUSHING FOR THE SUCCESS OF THE NATIONAL RECONCILIATION…HE IS PUSHING FOR ALL PREPARATIONS TO BE DONE. HE HAS CALLED OFFICIALS TO WRAP UP WHAT IS LEFT OF NATIONAL RECONCILIATION PLANS– AGAIN MAKING IT CLEAR…ALL LAWS NEED TO BE ENACTED.
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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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Iraqi Dinar/Dollar auction 20-09-15
Currency Auctions Announcement No. 3039 (most recent listing)
This daily currency auction was held in the Central Bank of Iraq on the 20-09-2015
The results were as follows:
| DETAILS | NOTES |
| Number of banks | 24 |
| Number of remittance companies | 10 |
| Auction price selling dinar / US$ | 1166 |
| Auction price buying dinar / US$ | —– |
| Amount sold at auction price (US$) | 206,679,578 |
| Amount purchased at Auction price (US$) | —– |
| Total offers for buying (US$) | 206,679,578 |
| Total offers for selling (US$) | —– |
More: http://dinarupdates.com/blog/
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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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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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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.”…
http://www.dinarupdates.com/showthread.php?20461-Reforms-are-still-weak-and-will-soon-overthrow-the-heads-of-major-corruption&p=131136&viewfull=1#post131136
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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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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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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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