Welcome to the Dinar Observer – Daily. For regular Dinar Updates, to see what the Dinar Gurus have to say, Dinar to USD listings, IQD and for Iraqi Dinar info – THAT MATTERS!! This is a good place to start for your Daily Dinar Recap – whether you are a Dinar vet or just looking for a little current Dinar info – Welcome.
Word for the day…
Genesis 17:7 (NKJV)
7 And I will establish My covenant between Me and you and your descendants after you in their generations, for an everlasting covenant, to be God to you and your descendants after you.
Heavenly Father, Thank You that You are a covenant God! Thank You for Your everlasting covenant to be God to us and our descendants 🙂 In Jesus Name, Amen.
Mrs BGG
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CURRENCY CODE SELL BUY
Dinar to USD – Dinar Value – Iraqi Dinar “IQD” listing
| CURRENCY | CODE | SELL | BUY |
| US dollar | USD | 1166.000 | 1164.000 |
| Euro | EUR | 1333.787 | 1333.121 |
| British pound | GBP | 1805.784 | 1804.881 |
| Canadian dollar | CAD | 903.596 | 903.144 |
| Swiss franc | CHF | 1226.336 | 1225.723 |
| Swedish krona | SEK | 143.681 | 143.609 |
| Norwegian krone | NOK | 144.710 | 144.638 |
| Danish krone | DKK | 178.763 | 178.674 |
| Japanese yen | JPY | 9.800 | 9.795 |
| Special Drawing Rights |
SDR | 1653.295 | 1652.468 |
Indicative rates – 10.18.2015
http://www.cbi.iq/
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History teaches us that men and nations only behave wisely once they have exhausted all other alternatives. – Abba Eban
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*** Current Posts ***
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Millionday – Article quote: “...the first deputy speaker of parliament Humam Hamoudi, on Thursday, that the amendment of the Investment Law will be submitted to parliament next Monday, in order to vote on it...” [could they pass the law without activating it, and wait till they are ready to release everything at once?] YES THEY COULD BUT ALL THIS IS OBVIOUSLY FOR A PURPOSE — LOANS ETC — DEVELOPMENT. IMO THEY ARE NOT SITTING ON IT.
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Aggiedad77 (Dinar Guru ) – Article: “the Council of Ministers approved at its special session, on Sunday, the draft budget for fiscal 2016…” This is a GREAT thing to read today…the COM approving the budget for the year 2016…now hand this over to Parliament…and take heed of PM Abadi’s request to keep your political fingers off the budget and get this passed in the soonest route possible.
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BGG – …I feel we are at the door and how many times we were there..? with BRICS, CIPS and whatever else is out there…we are very close.
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wmawhite – What is missing in the following list of currencies?
1 Egyptian Pound = $0.13
1 Jordanian Dinar = $1.41
1 Qatar Riyal = $0.27
1 Bahraini Dinar $2.65
1 Israeli Shekel = $0.26
1 Saudi Riyal = $0.27
1 United Arab Emirates Dirham = $0.27
1 Omani Riyal = $2.59
1 Kuwaiti Dinar = $3.31
1 Iraqi Dinar $0.00085
…think of sesame street…”from the list of currencies what is not like the others?” From the list of currecnies, which country has the largest economy? [the largest economy to be Iraq and the currency has leading zeros…which shows it’s weak at the moment.] Very good…actually the current value is not weak…it is actually…worthless. Yet, many of the other countries that have only a fraction of the GDP have currencies valued a 1,000 times greater.
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Enorrste (Dinar Guru) – I, for one, remain cautiously optimistic that the plan is moving forward, even though at a snail’s pace… I see that pressure is increasing to make a “leap” forward. The passage of the Investment Law this week, hopefully, will be a big step in the plan because it will open the door for protected investment and land ownership from foreigners…we could begin to see a significant increase in foreign investment in the near term. Then we need some banking relief through a new Banking Law. Third, we need to see the introduction of the large 50K notes. Reducing the Iraqi money supply…will lead to a rise in the value of the dinar. Once this process begins, hopefully before the year ends, I foresee a rapid rise in the value of the dinar…most importantly due to the influx of new money from abroad. I’m actually excited to see this plan laid out in detail for the first time. [post 3 of 3]
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Aggiedad77 (Dinar Guru) – Well from the sound of initial reports we should be hearing that the COM approved the budget today and will be forwarding it on to Parliament where there is a request to keep political differences away from the budget process and get this budget approved as quickly as possible…well I’m not holding my breath yet for that to happen…be looking today for a vote on the Investment Law by Parliament if they hold true to their word.
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Enorrste (Dinar Guru) – The article is also fairly clear on those elements that have caused the “plan” to be stalled to a large extent…in addition to those things that we have always known, there were a couple new points made that make the lack of progress more understandable. The article is also specific in that it sees that the role of the government is obstructive rather than helpful in moving toward a more open market driven economy. It is my view that Abadi is a good guy and that he is actually looking for ways to help move this process along. Ideally, the CBI will give him suggestions that he can implement unilaterally (without approval from Parliament) to remove some of the strings that exist in government funding and expenditure, reducing the move to a market economy. [post 2 of 3….stay tuned]
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Millionday – Article quote: “…the first deputy speaker of parliament Humam Hamoudi, on Thursday, that the amendment of the Investment Law will be submitted to parliament next Monday, in order to vote on it...” THIS IS THE FINAL VERSION OF THE AMENDMENT…THEY PLANNED ON VOTING IT THROUGH LAST MONTH IT APPEARS BUT — THE FINAL AMENDMENT GOES ON MONDAY. THIS WILL OPEN IRAQ FOR FOREIGN INVESTMENT — WIDE OPEN IT SAYS…KNOW HOW HUGE THIS IS? HUGE.
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Enorrste (Dinar Guru) – Article: “Monetary policies in Iraq and proposals for the next phase applications” We are all, or at least most of us, frustrated that the CBI has seemed to be unable to move “around the corner” leading to a rise in the value of the dinar…this article for once outlines in detail…the fact that the CBI definitely has a plan and that the plan includes, first, stabilizing the dinar rate, then second, raising the rate, and, third, eventually removing the large notes from circulation ( a clear goal of at least $1 for the dinar). Therefore, if nothing else, this article is a confirmation that the overall plan remains in place in spite of the obvious drawbacks. [post 1 of 3….stay tuned]
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Aggiedad77 (Dinar Guru) – They are describing a new Iraqi culture that is truly working to make a better life for all Iraqis…sure it will be a slow process, but moving ahead is now the new reality. Watch as they make plans, implement reforms, and bring people back to the forefront of importance all across Iraq…a new awakening is occurring. Just as the Investment Law may come into play tomorrow with a positive vote in Parliament…one day at a time, one step at a time, one person at a time, they are working on improvements…That MR that flows like lava that can’t be stopped and along with it at the right time the blessing to benefit all. [post 2 of 2]
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Adam Montana (Dinar Guru) – […do you honestly think Iraq will EVER revalue the dinar?] If the day ever comes where I see evidence that we are going to lose money, I give you my word that I will tell the people.
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Aggiedad77 (Dinar Guru) – Article: “The development of the banking system supports a balanced development” …pay attention to what the news media is wanting to share with you these days. I suddenly get a sense of a great change…Change from cover ups and deeply hidden masks of what was going on with the former government… Today though we witness I think a new awakening…things like this article that speaks to real economic development…speaks to the growth of the private sector in terms of reality, not just words but actions that are taking place right in front of us. [post 1 of 2….stay tuned]
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Iraqi Dinar/Dollar auction (from) 10-18-15
Currency Auctions Announcement No. 3055 (most recent listing)
This daily currency auction was held in the Central Bank of Iraq on the 10-18-2015
The results were as follows:
| DETAILS | NOTES |
| Number of banks | 24 |
| Number of remittance companies | 9 |
| Auction price selling dinar / US$ | 1166 |
| Auction price buying dinar / US$ | —– |
| Amount sold at auction price (US$) | 192,306,860 |
| Amount purchased at Auction price (US$) | —– |
| Total offers for buying (US$) | 192,306,860 |
| Total offers for selling (US$) | —– |
More: https://dinarupdates.com/observer/
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Kaperoni – Article: “Association of Banks: We are working on the horizontal increase in the banking sector by increasing the number of branches” More encouraging news. They would not be doing this unless they expected changes in the economy very soon..remember most banks are failing. You don’t open more branches in any business when you have no business to begin with…unless
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firefly (Dinar Guru) – The AML was the cornerstone of ALL the laws. No wonder the IMF and WB insisted on it being done by Oct. 1st. No ther law would work internationally if the AML wasn’t in place. Like I said 4 days ago…”It’s coming”.
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Kaperoni (Dinar Guru) – Article: ” The new investment law…to provide Iraq on a plate for the investor” I’m all for anything that gets the wheels of investment turning in Iraq. That is the only way the dinar goes up in value. This is huge news… Iraq has finally stepped up to the plate. The title “Iraq on a plate for the investor” is a true statement if they pass this law. With the law back to parliament, it hopefully will get passed Monday as they say. The good news is that when Abadi pulled these laws last week to make amendments, he is doing so it appears to really create momentum. Now we need some banking deposit insurance.
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Poppy3 (Dinar Guru) – looks like the real officials are lowering the boom on maliki and now for real nailing his coffin shut. OVER THE NEXT FEW DAYS LOTS WILL SHOW ON HOW SERIOUS THEIR CHARGES WILL PROVE. NEXT THE INVESTMENT LAW BEING VOTED TO LAW IS A STEP IN THE RIGHT DIRECTION…HOWEVER THEY HAVE STOPPED THE BOND SALES PROGRAM THAT WE STATED SEVERAL TIMES WOULD NOT WORK. NO ONE WOULD INVEST IN BONDS THAT IS NOT BACKED WITH INTERNATIONALLY ACCEPTED CURRENCY.
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wmawhite (Dinar Guru) – For those of you that think there is nothing good happening…look at what BGG brought to you. another economist, who advises the GOI, stating the the IQD ought to be re-evaluated. This guy states it as if it is a fore-gone- conclusion.
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Mike (Dinar Guru) – Article: “The new investment law … to provide Iraq on a plate for the investor” We’ll have to wait and see what happens on Monday, there have been several articles that talk about the investment law coming up for a vote then, If we see a strong law that gives investors some protection and the ability to buy the land, we’ll know they’re serious. If the law is some watered down version of what’s needed, then we’ll know the old guard is still holding Iraq back from moving forward economically. IMO.
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Aggiedad77 (Dinar Guru) – Article: “Crisis cell led by al-Abadi meets to conduct a comprehensive review of the budget law” PM Abadi held a “crisis cell” meeting to prepare for an “extraordinary meeting” on Sunday regarding the 2016 budget…I hope he’s telling his ministers this is how the horse bit the apple…leave this budget alone…and tell your Parliament committees to do the same as he stares at Finance Minister Zebari eye to eye…again he focuses on salaries for 2016 up front rather than the funds needed to continue to fight DAASH…let that be a subtle hint that SECURITY is being taken care of…that it is not the issue it once was…the issue hasn’t gone away…but it is markedly better than earlier this year.
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Adam Montana (Dinar Guru) – 4. “…the rest of it…” …we’re talking about Iraq. Violent protests have always been and will always be part of their life, regardless of the value of their currency. Don’t get me wrong… I’m not promising that things can’t go downhill…But my view is still positive on this. Expecting Iraq to turn into a civilized country, regardless of the value of their currency, is unrealistic. The protests and demonstrations will run their course, and at the end of it there will be a less divided community, not the opposite. [post 2 of 2]
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“Round Table” Dinar Call!!
“for Dinar News – that MATTERS!!”
from Friday 10/16
Smart phone user link – Click here
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Adam Montana (Dinar Guru) – Article: “Kurdistan/Erbil having a lot of issues that will delay political agreements to the HCL. What is your view on this article? ” …it’s an opinion piece. I try not to give my opinion on other’s opinions, but I’ll indulge you this one time. 1. “The prime minister of Iraqi Kurdistan removed four ministers from his cabinet on Monday…” Good! Trim some fat, less chefs makes for better meals. 2. “The unrest is the most serious the relatively peaceful region has seen in years…” I disagree… Look at the last 10 years. Iraq – ALL of Iraq – is generally in a better spot, in almost every way imaginable, than 10 years ago. 3. “…The Kurdistan region is heading towards a much worse situation,” Mohammed said..” Yousif Mohammed is a long time dooms-sayer. He has never, to my recollection, had anything positive to say, in any situation. [post 1 of 2….stay tuned]
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Aggiedad77 (Dinar Guru) – Article: “Sheikh Hamoudi announce an end to disputes over investment law and vote on it next Monday” The Investment Law will walk onto center stage Monday, so it is said, for a Parliament vote on significant changes to the law….hopefully gone is the red tape, gone are any motives towards corruption….hopefully gone are the political differences that have plagued this law for months.
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BGG – Report quotes: “10. re-evaluation of the Iraqi dinar: “…What makes it imperative for the government re-evaluation of the Iraqi dinar is reasonable…” this is a hummdinger…That was from a report out by one of their economic advisors…
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Millionday – I WOULD LIKE TO SAY THAT THE IMPORTANCE OF THE INTERNATIONAL INVESTMENT LAW IS THE GREATEST NEED I KNOW. THE VOTE FOR FOREIGN INVESTMENT LAW WILL BE MONDAY. THIS IS NEEDED FOR THE INTERNATIONAL LOANS/AGREEMENTS THAT WILL BE MADE FOR DEVELOPMENT. THE VOTE FOR THE INVESTMENT LAW ON MONDAY IS — HUGE — HUGE.
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Aggiedad77 (Dinar Guru) – Article: “The current economic crisis is required in Iraq and Reform” I’m excited, sounds like some really good MR movement…maybe this week is not going to be so dull after all.
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Millionday – “…the Central Bank of Iraq aims and according to the Bakannouna to the pursuit of stability in the exchange rate of the Iraqi dinar and promote the preservation of a stable financial system competitive and based on the market and the promotion of economic stability and sustainable growth and prosperity in Iraq.” OBVIOUSLY THE ECONOMIC RATE GAP IS DUE TO THE LACK OF CALCULATED VALUE — INTERNATIONALLY AND LOCAL. THE VALUE TO BE BASED ON THE MARKET — SUPPLY AND DEMAND BY THE INTERNATIONAL EQUATION — GLOBAL PRICING INDEX. [would that mean a float?] NO THAT WOULD MEAN AN ACTUAL CALCULATED RATE — FAIR MARKET VALUE. THAT IS THE STATEMENTS WE ARE WAITING ON. KNOW THIS SOMETHING YOU CAN BE EXCITED ABOUT.
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Adam Montana (Dinar Guru) – [ Isis, Russia, Iran…Three heads that wouldn’t want the US to benefit, and who are firmly entrenched in Iraq’s corruption issues. Why would Iraq turn their currency on at this moment in time when so much could implode politically and economically if they did?] The fact that ISIS, Russia, and Iran don’t want the US to benefit from anything, ever, has nothing to do with how an RV will benefit Iraq, Russia, Iran, and ISIS. There’s a negative side to any situation, if that’s all you’re looking for. I don’t think those three “heads” have enough influence or control, particularly over the CBI, to stop Iraq from making progress.
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Kaperoni (Dinar Guru) – Article: “Islamic Bank is approaching the country’s declaration of bankruptcy” I think it is much bigger than just Islamic banks. The private banks have no cash flow, no depositors, and a lack of liquidity in the market. IMO, the whole banking system is in dire need of laws, and an openess to the world.
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Millionday – Article quote: “Iraq central bank issued gold bullion to withdraw cash liquidity from the market...” THIS IS BEING DONE TO ENHANCE AND BACK THE DINAR VALUE — KNOW GOLD HAS ALWAYS BEEN USED AS HARD BACKING A CURRENCY…TO MAINTAIN A STRONG VALUE AND BACK IT. IT IS BETTER THAN A FIAT CURRENCY — BACKED BY AIR — OR JUST PRINTED — KIND OF LIKE HAVING COLLATERAL. I AM SO EXCITED BY WHAT IS HAPPENING WITH CBI. — HUGE NEWS.
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Adam Montana (Dinar Guru) – [Do you have any sources that give us any optimism that, at the least, HCL related laws will make it to a parliamentary vote this year?] I don’t believe we are going to get that kind of warning. I think when the HCL goes through, it’s going to happen fast for a few important reasons. 1. It will eliminate any attempts by either side to sabotage it. They will probably put a fair agreement on the table (that neither side will be completely happy with), and pass it. 2. It will prevent a huge speculation run on the Dinar. …there are extremely smart and wealthy investors out there who will pounce on this deal the minute they get wind that an HCL/RV is coming… so it’s going to be in Iraq’s best interest to push through both the HCL and an increase in the value very fast… so fast that the BIG money investors won’t be able to get their hands on tens or hundreds of millions of dinar at the pre-RV rate. I am so strong on that opinion that it’s my opinion we won’t have any warning at all…
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Aggiedad77 (Dinar Guru) – Well after taking a quick peek at the news this morning that has surfaced so far…it sounds good to me…the Investment Law headed to a vote on Monday it sounds like…more talk on the budget for 2016…
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wmawhite (Dinar Guru) – Also, this new investment laws actually started four years ago when Iraq hosted a huge seminar in London…100s of investors attended and gave recommendation to the GOI as to what would be needed in order for them to invest in Iraq…those countries, business, etc. that are helping Iraq with the drafting of these laws are doing it because of their interest in Iraq and its future. The gulf region is naturally interested in doing business with Iraq…however, Western Europe as well as Russia understand how critical it is for Iraq to be successful in these reforms because they are now seeing first hand the effects of the area being unstable. [post 2 of 2]
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tman23 – “…23rd session of the first legislative term…to postpone the vote on the draft second amendment bill to the Investment Law…until after the Eid al-Adha holiday…” This Investment Law is not just needed but required for foreign investment to begin deposits in Iraq…It was a condition of the European Union… Iraq desperate for investment…WHY THE DELAY? Parliament does not understand the Federal Government delaying 50 bills that have been read 2 times…The Investment Law was read 2 times… Why not pass it and post it as law but do not implement it same as they have on tariffs… IMO The delay is 3 zeros!
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wmawhite (Dinar Guru) – Reference Millionday post: “10-14-2015 Newshound Guru Millionday Press report quote: “The Council of Ministers endorsed the reforms presented by Prime Minister Dr. pack. Haider al-Abadi, backed by vote of the House of Representatives unanimously” THE VOTE OF ECONOMIC REFORM LEGISLATION IN ITS ENTIRETY…” I do not believe that these folks are going through all of this NOT to activate these reforms. the other part of this is that the GOI/Parliament are being taken by the hand and walked through this process. All of these people have never lived in Iraq when they have needed monetary reform…the folks in the goi/parliament were just kids as far back as Sadaam and he determined all policy…nor the need to have foreign investors invest in Iraq. They have never had the need until now…well, figure it out…they have never had the knowledge has to how to draft such laws. This is why we are seeing these amendments being introduced into these laws at the last minute…they are being guided by folks outside of Iraq. [post 1 of 2….stay tuned]
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Iraqi Dinar/Dollar auction (from) 10-15-15
Currency Auctions Announcement No. 3054 (most recent listing)
This daily currency auction was held in the Central Bank of Iraq on the 10-15-2015
The results were as follows:
| DETAILS | NOTES |
| Number of banks | 21 |
| Number of remittance companies | 9 |
| Auction price selling dinar / US$ | 1166 |
| Auction price buying dinar / US$ | —– |
| Amount sold at auction price (US$) | 191,586,000 |
| Amount purchased at Auction price (US$) | —– |
| Total offers for buying (US$) | 191,586,000 |
| Total offers for selling (US$) | —– |
More: http://dinarupdates.com/blog/
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Frank26 (Dinar Guru) – …the initials ADRS…actually stand for three people, three movers and shakers within Iraq…PM Abadi…Dr. Shabibi and…Ayatollah Sistani…the leading cleric of all of Iraq. These three gentlemen have a commonality in their voices…they stand in congruent agreement concerning what is needed in Iraq and with their commitment towards the future of Iraq the words they speak are so very time sensitive. Fear is what causes things in Iraq to move and get accomplished. Previously, with the old government it was fear of Maliki…However today, the fear is really a countrywide respect for their Holy Man, the Ayatollah Sistani. The Holy Man, Sistani, is expecting 1, 2, 3 and yes 4 …this is what he is asking of both PM Abadi and Dr. Shabibi…#1. Are the laws passed and ready to be published; #2. Are the LD’s ready; 3. Dr. Shabibi are you sure you are ready to step up again…and #4. Dr. Shabibi I have proved the FATWA, are you ready and have the head nod from the IMF for whatever rate you believe is right…these are his EXPECTANCIES. These three are in cahoots with each other, one voice, one accord…all three are talking to the people. They…are EXPECTING something and they EXPECT it this year…yes THIS YEAR.
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Millionday – Article quote: “The budget of 2015 free of the fiscal deficit, but achieve financial abundance is estimated at 500 billion dinars” SO THE 2015 BUDGET IS SHOWING FINANCIAL ABUNDANCE OF EST 500 BILLION DINARS. THINGS THAT MAKE YOU GO HMMMMMM
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SteveI (Dinar Guru) – …there have been many unexpected events pop up over the past year and one never knows if anything else could slow it down. From our sources, there is not a whole lot more to get in the way of the end result. Progress is being made despite what you read and hear. There has been so much misdirection regarding information that one does question this investment, but for those that have great contacts actually here in the US and in Iraq, I like where we are and where they are going…not at the speed we all wanted, but this is not about us, but rather the rebuilding of an entire country. Apparently not as easy as it looks as we are looking for [from?] the outside in.
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Economist: central bank issued gold bullion to withdraw cash liquidity from the market
Special – scales News – Stressed the economic expert on behalf of Jamil Antoine, Wednesday, the Central Bank of Iraq issued an alloy of gold for sale, to withdraw cash liquidity from the domestic market.
He said Antoine L / scales News /, “The central bank issued alloy of gold weighing grams and five grams to withdraw cash liquidity of the domestic market and one of these methods to withdraw liquidity from the market.”…
BGG ~ Whaaaaaa??? Why would they want to take liquidity OUT of the marketplace???
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Millionday – YESTERDAY THE UN ANNOUNCED THEY ARE BACKING THE REFORM PACKAGES OF IRAQ AND THE WORLD BANK AND IMF HAVE ALSO ENDORCED THE REFORM PACKAGES — THE COUNTRY IS NOT ABLE TO JUST SIT AND WAIT FOR PEACE — THEY HAVE TO SAVE THEIR ECONOMY IMO.
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Backdoc (Dinar Guru) – THINGS ARE STARTING TO HEAT UP! I LOVE THE CULMINATING EVENTS. EARNING SEASON SHOULD PROVIDE MANY MORE SURPRISES! SOMEWHERE IN THIS NEWS FRENZY AND CRASH WE SHOULD SEE THE RATE SHOW UP!
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Mnt Goat (Dinar Guru) – We are hearing that finally Iraq and the coalition forces are making great progress fighting ISIS. They do not tell us everything but one thing we know for sure is the goal is NOT to let ISIS DAASH reoccupy any ground already taken. As you know in the past once an area was cleared, ISIS simply worked around and out flanking the Iraqi and Qud forces reoccupying the area. This time this will not work. They are boxing them in and either they surrender or experience their final fate of death. This is all good news and what we need to hear. Another notch on our to-do list thus closer to the needed security stability as needed for the currency reforms.
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DinarUpdates.com Round Table Chat 10-14-15 PM 2 of 2
Thanks to Dinar Detectives for a post and Dinar Recaps for posting this in their BLOG
WELCOME TO DINARUPDATES.COM FOR ROUND TABLE w/BGG
BGG: Mr White had an exciting comment the other day… something like 24 or 28 days after the last Iraqi troops were forced out of Kuwait, with their country in shambles, war torn, nothing in order, infrastructure still at minimal capacity – they had new bills printed – and immediately “assigned” a value of 3.00 plus to their new currency…
wmawhite BGG: and these are my comments…
wmawhite BGG: In closing, keep in mind that Iraq invaded Kuwait in August 1990.The Kuwaiti currency at that time was the Kuwaiti Dinar. The Kuwaiti currency was replaced with the Iraqi Dinar by Saddam Hussein. Seven (7) months later, February 28, 1991, the Iraqi forces are kicked out of Kuwait and the war has ended. Only twenty six (26) days later, March 24, 1991, the Kuwaiti banks reopen with a NEW currency valued at 1 KWD = $3.50………….the key here is twenty six (26) days.
wmawhite BGG: Back to you, BGG.
BGG: OK – so…
wmawhite: Expect the unexpected.
BGG: that was my “fundamentals” commentary for the day…
BGG: any questions, comments, thoughts??
wmawhite: Kuwait was still in a mess and they reinstated their value.
wmawhite: No float………just bam!!!1
BGG wmawhite: BAM!!
Read More: http://www.dinarupdates.com/showthread.php?22456-Bgg-roundtable-10-14-15
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Aggiedad77 (Dinar Guru) – Well this is a week of numbers… remember what they are? One, Two, Three, and Four…1). Make public the LAWS; 2). Watch for the LD’s (50’s and 100’s) some are in Iraq, others are coming; 3). Date Dr. Shabibi to announce his return to the CBI; and 4). Dr. S receives the FATWA from the Iraqi cleric and yet another green light from the IMF to move things to a level of his choice.
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Backdoc (Dinar Guru) – WITH LAWS COMING TO CONCLUSION IN IRAQ AND IMPLEMENTATION IS ABOUT BEGIN, WE SHOULD BE VERY HOPEFUL! VERY INTERESTING TO SEE IRAQ’S BUDGET FINALLY COMING UP FOR AIR! SOON THAT NEW FRESH AIR SHOULD BE BLOWN AROUND THE WORLD.
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Millionday – Press report quote: “The Council of Ministers endorsed the reforms presented by Prime Minister Dr. pack. Haider al-Abadi, backed by vote of the House of Representatives unanimously” THE VOTE OF ECONOMIC REFORM LEGISLATION IN ITS ENTIRETY WAS VOTED THROUGH UNANIMOUSLY!!! THEY HAVE FOUND WAYS THROUGH THE REFORMS TO MOVE TO A MARKET ECONOMY WITH THE WORK PACKAGE WHICH SUPPORTS THE PRIVATE SECTOR AND PARTNERING WITH THE PUBLIC SECTOR — WHOOPOW! THEY HOPE THAT THEY WILL HAVE HUGE SUCCESS WITH THE REFORMS AS WAS WITNESSED IN EU DURING THEIR TRANSITION. THE REFORMS WILL HAVE A HUGE IMPACT AND FILL A LARGE PART OF 2016 BUDGET WITH THEIR SUCCESS. [What does that mean for us investors Legislation being voted thru?] THIS MEANS THAT THEY ARE PREPARED TO IMPLEMENT THE ECONOMIC REFORM PACKAGE DUE TO THE LAWS THAT NEEDED TO SUPPORT ALL THE CHANGES HAVE BEEN PASSED.
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Millionday – “…praising the efforts of the United Nations Mission in Iraq for the return of security, stability, and development… noting that the United Nations is pouring its efforts in support of reforms.” THIS ANNOUNCEMENT IS FROM THE MEETING WITH THE UN AND IRAQ`S FOREIGN INTENTIONS — TO UNIFY WITH COUNTRIES OF THE WORLD. THE UN IS VERY HAPPY AND PRAISING THE RETURN OF SECURITY —-STABILITY — AND DEVELOPMENT. SO — POURING THE UN EFFORTS INTO THE RETURN OF IRAQ AND THE REFORMS…THIS IS GREAT — IMF — WORLD BANK — THE US AND THE UN — THAT WAS THE MOST POSITIVE STATEMENTS I HAVE EVER HEARD FROM THE UN ETC. [in your opinion how does this tie into a change of dinar value?] IT TIES COMPLETELY…THROUGH A MARKET ECONOMY AND THE NEED FOR THE CALLED FOR INTERNATIONAL EQUATION AND GLOBAL PRICING PER — GLOBAL TRADE.
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tman23 – They have painted themselves into a corner…The issue now is not the money that has been wasted but rather the TIME…Iraqi’s have idea how valuable time is…BUT IN THE NEXT 20 DAYS THEY ARE ABOUT TO GET A CRASH COURSE IF THEY DO NOT GET THE FED COURT ACT AND INVESTMENT LAW TO VOTE.
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firefly (Dinar Guru) – Relax, the Dinar opera is coming to an end! Really. [ok when?] please don’t ask me dates or rates…Just know it’s coming.
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DinarUpdates.com Round Table Chat 10-14-15 PM Part 1 of 2
Thanks to Dinar Detectives for a post and Dinar Recaps for posting this in their BLOG
WELCOME TO DINARUPDATES.COM FOR ROUND TABLE w/BGG
BGG: Is everyone ready for Round Table??
BGG: Let’s focus on some fundamentals today…
BGG: Parliamentary Finance reveal Iraq Federal Reserve: $ 59 billion and 90 tons golden
BGG: Special scales News – He revealed the decision parliamentary Finance Committee Ahmed flesh, Wednesday, for the existing Iraqi state treasury federal reserve money, noting that it is of the approximately $ 59 billion, and that the gold reserves of 90 tons…
BGG: Not to belabor this particular point…
BGG: However, ask yourself – why is the Finance Committee the one pushing this “stability agenda”???
BGG: Very curious if you ask me…
BGG: in fact, I wonder if they aren’t setting up to “take over the levers” – so to speak…
Read More: http://www.dinarupdates.com/showthread.php?22456-Bgg-roundtable-10-14-15
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Poppy3 – ALWAYS SAID BONDS WHERE NOT GOING TO SELL? NO ONE WILL BUY A INTERNATIONAL BOND THAT CANT BE TRADED EVEN THEY SHOWED THEM WITH A HUGE RATE ON THEM. BOND SALE WERE NEVER A POSITIVE FOR THE NEW RATE OF THE DINAR. THEM NOT SELLING IS IN OUR FAVOR.
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Aggiedad77 (Dinar Guru) – “It ain’t over until it’s over”….so true for Iraq…they stand hip deep in issues…they gather the wagons surrounded by bad guys…bad guys from the outside (terrorists) and bad guys from within (corrupt officials)… But they have someone who can save the day…one who has the expertise and where with all to change the course of things through his skill set and expertise…make it so…if Dr. S [Shabibi] who has silently stepped onto the playing field, an unexpected substitution of sorts for keywords…if he were to pinch hit in such a capacity that he is so well known for…”taking care of business”… I would suggest you watch for this…NATURAL…to step to the plate in the very near future…for I believe the destiny of Iraq will ride in his hands…His effort will connect Iraq to the rest of the world in a way no one expected…with an outcome for all who had the patience that was unbelievable…Dr. S is in control and the outcome will be monumental.
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Millionday – [Do you think with IMF or WB not giving the loan.. Iraq and US will be forced to pull the trigger…?] THE WORLD BANK AGREED YESTERDAY TO GIVE IRAQ ASSISTANCE FOR DEVELOPMENT ETC. MANY HAVE HAD A HARD TIME WITH A “NO FOR A LOAN” FROM THE WORLD BANK BUT — THEY AGREED TO ASSIST THEM WITH FUNDING GRANTS — THIS IS BETTER. KNOW THE MANY THINGS THAT THE WORLD BANK WILL ASSIST WITH AS WELL — CBI IS OVER BANKS NOW AND THEY ARE ACTIVELY HEAD OF THE BANKING REFORM…SO HELP FROM THE WORLD BANK IS HUGE.
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wmawhite (Dinar Guru) – …at any one time there are hundreds of bonds being marketed by countries. If Iraq wanted to up the interest there would have been buyer. Good for them choosing to pull the bonds. Remember, a bonds is the same as a loan…the issuer of the bond is borrowing money and if someone doesn’t want to loan you money is not an indication they do not want to invest in you. Instead, it is a business decision on their part.
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Kaperoni (Dinar Guru) – Parliament: “The meeting’s agenda number (29) Wednesday 14 October 2015 …The third parliamentary session…” They continue to get a lot of laws to a second reading. I still believe they will then pass them all at once in a basket.
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Millionday – [smart cards being used?] SMART CARDS ARE BEING DELIVERED AND THEY ARE WAITING FOR LOADING. MANY HAVE THEM IN HAND.
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tman23 – Mamoud is 82 years old and by law is finished serving……He will leave his position according to the law, he is the supreme judge and the integrity of the law will not be challenged…….. If I am correct on timeline……I believe November is the retirement date……
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DinarUpdates.com News Time Chat 10-12-15 PM 2 of 2
Thanks to Dinar Detectives for a post and Dinar Recaps for posting this in their BLOG
Welcome to dinarupdates.com for News Time with Millionday!!
Millionday: The statement added that during the meeting, they discussed the Iraqi – US relations, the current financial and economic conditions and the government’s efforts to bridge the fiscal deficit , the provision of funds and international loans from international financial organizations.
Holly1: That is a sweet report .. ty
Millionday: YW ALL THE TIME — I AGREE
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Read More: http://www.dinarupdates.com/showthread.php?22358-Millionday-News-10-12-15
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Hub (Dinar Guru) – there is not insufficient investment interest, there is no interest in worthless bonds…they need to come up with a value to their currency for people to want to invest in the richest oil country in the world. why would Iraq need to sell bonds or borrow money to support their budget. The IMF told them no way, stand on your…feet…
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firefly (Dinar Guru) – Article quote: “Iraq has halted its plan to issue international bonds because the yield it would have to pay on the debt was too high…” Who the heck would buy International Bonds at 1085…Not going to happen! The World Bank said in July it would provide Iraq with loans totaling $1.7 billion, while the International Monetary Fund agreed this year on an $833 million loan program. I would rather see the WB, IMF and UN GUIDING the Government than giving them money! IMO the loans are history.
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Mike (Dinar Guru) – Article: “Saleh supports the non-issuance of international bonds” Saleh was all for the bonds until he found out what the rate was going to be, since then, not so much. Who can blame them? Here’s hoping they’re in a corner and realize they need to get their economy opened up and the dinar with some value.
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Millionday – […is there something else they need to get done?] IN GOVERNMENT TERMS THEY ARE GETTING THINGS DONE IN LIGHTENING SPEED. IMO — THEY NEED TO ENACT LAWS AND ACTIVATE ALL REFORMS AS ONE. [ Does that affect RV?] IT IMPACTS THE ENTIRE PREPARATION FOR THE NEW IRAQ IMO — THE FEDERAL COURT BEING SO CLOSE TO DONE IS HUGE IN THE DEMOCRATIC POSITION IRAQ HAS TAKEN AND ALSO THE NATIONAL RECONCILIATION.
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DinarUpdates.com News Time Chat 10-12-15 PM Part 1 of 2
Thanks to Dinar Detectives for a post and Dinar Recaps for posting this in their BLOG
Welcome to dinarupdates.com for News Time with Millionday!!
Millionday: READ EVERY WORD
Millionday: (JIM)
Millionday: President of the Supreme Judicial Council, Medhat al-Mahmoud, said on Monday that the time set for the President and members of the Federal Court is nearing completion, as explained to determine the 12-year time limit in the new law of the Court, stressed that the work to Aaakhlua from political corners.
jimplants: BIG SMILE
Millionday: HUGE
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Read More: http://www.dinarupdates.com/showthread.php?22358-Millionday-News-10-12-15
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Mike (Dinar Guru) – Article: “Central Bank extends the sale of bonds for the benefit of the Ministry of Finance one month” Isn’t this the second or third time they’ve extended this “offer” to the Iraqi people? It don’t look to me like there’s very much interest in the domestic bonds either.
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Mnt Goat (Dinar Guru) – I believe when we see the accountability and justice law we will see these corrupt government officials be prosecuted at all levels and at warp speed. These trials should not take long since in most cases the evidence is overwhelming. I also believe this will lead to less disruption in getting the remainder of the needed reforms completed and thus a window for an RV. It is all going to come to a beautiful conclusion all of a sudden and shortly. [post 2 of 2]
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Mnt Goat (Dinar Guru) – I will say I believe we may be heading for another good opportunity for a window to RV coming up in the later part of October/early November if all goes well accordingly…IF, and only IF Iraq can accomplish their goals they will be inline to RV. We simply had to wait for the events to unfold that are required to bring the political stability, physical security and the economic stability needed for this RV event to occur. The pressure is on the Abadi government to set a timeframe and not let this go on forever, which seems to be the case sometimes. [post 1 of 2….stay tuned]
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Commercial Solicitation
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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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