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Seminar on the central bank auction and determine the foreign exchange rate

Read More: http://www.dinarupdates.com/blog/ 

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firefly (Dinar Guru) – Sistani, who is revered by millions and has unmatched prestige in Iraq, has played a key role in supporting reforms by calling for the government to carry them out, giving Abadi the political cover to move forward with changes.  You simply don’t mess with Sistani!  He is for the reforms.  He also has Abadi’s back!  I’m expecting things to move even faster now!
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Mike (Dinar Guru) – Stopping the auctions and implementing the tariff’s would clear up a ton of financial corruption.  Purchasing imports with the dinar would eliminate the need for dollars and the good ole boy network wouldn’t exist any more, everyone would have access to purchasing Turkish tomatoes without going through the auction process.  I honestly believe that’s why we haven’t seen changes yet to the currency, there’s too many wealthy Iraqi politicians making money off the existing system, the last thing they want is a fair, balanced and transparent system to compete in, the auction game is rigged for their benefit.  [post 2 of 2]
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Mike (Dinar Guru) – At the minimum, Iraq could raise the rate 30-40% and move to Article VIII.  This would allow the government to implement the taxes and remove the subsidies for the ration card and fuel products and satisfy the WB and IMF’s requests.  The citizens could afford the increase because of the off set raising of the value and then Iraq could begin to move forward on monetary and economic reform as well as reap the rewards of an additional revenue stream not attached to oil.   I hope that’s not the way they go, but at this point, any forward movement for me is welcomed, continuing to flounder around and watch the reserves dwindle isn’t the answer, that much I know.  It’s pretty clear that if they unpegged from the dollar and floated the dinar today, the value would drop, maybe as low as the projected 1500-1, which would be disastrous for the citizens.  [post 1 of 2….stay tuned]

BGG ~ This is not a realistic analysis. According to my sources – even if they float, no one expects it to retreat (no matter what the Iraqi naysayers put out)…

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DinarUpdates.com News Time Chat 11-06-15 PM Part 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: THIS CONFERENCE IS TO SET THE INTERNATIONAL RATES — WHEN OR HOW MUCH I DONT KNOW THOUGH HUN

Millionday: THERE IS NO WAY TO KNOW MORE THAN WHAT IS IN THIS INK BUT IT SURE IS EXCITING — WHOOPOW

quicktolegit96: when is the conference again?

Millionday: THIS IS ALREADY DONE

Millionday: HERE IS MORE ON IT

Millionday: The joy of pumice in a move aimed at supporting government reforms recently launched, plans and ensure its implementation aspects, Iraqi Economists Association held an economic seminar dealt with the obstacles and difficulties that stand in achieving the goals that serve the interests of citizens.
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Read More: http://www.dinarupdates.com/showthread.php?24167-Millionday-News-11-06-15
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Breitling (Dinar Guru) – ...simply because of some of the maneuvers they are using, they can’t hide anymore.   What are they maneuvering?  They are lowering the note count and there is a ripple effect.  Some positive some of it’s negative.  Some people don’t know what’s going on so they’re saying “Hey, we should put some more dollars in because there is not enough liquidity in the markets for the people to spend and buy and for their economy to move.”  They don’t realize that the CBI has an agenda.  They are going to add value to their currency and to do that they have to take the US dollar out.  The CBI can bring the US dollar in and they can bring the US dollar out.   It’s called [indirect tools] it’s not the natural market.  This is very exciting!   [Post 2 of 2]
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Breitling (Dinar Guru) – Have not seen articles like this is a very very long time…”the central bank is the only body that pumps dollars for the domestic market which creates confusion…” this is a very very bold statement.  The reason it creates confusion is cause the people in Iraq have not figured it out…they don’t know why the value of their currency is rising and it’s because of the US dollar.  Why are they throwing US dollars into their economy when they have their own currency?  Well you and I know.  this makes me very very happy.  It’s coming to an end.
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Millionday – Seminar Title:  “Friday, November 6, 2015  Iraq Exchange Rate: Seminar on the central bank auction and determine the foreign exchange rate”  THIS IS ALREADY DONE. THIS CONFERENCE IS TO SET THE INTERNATIONAL RATES — WHEN OR HOW MUCH I DONT KNOW…THE ACTIVATION OF THE IRAQI REFORM IS EXPECTED TO PUT IRAQ BACK IN THE RANKS OF ECONOMICALLY POWERFUL COUNTRIES.  [in your opinion do they only have one thing left to do?]   IMO — THIS COULD HAPPEN AT ANYTIME.
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wmawhite (Dinar Guru) – …when you return from Europe with Euros, or when you return from London with the Great British Pound, or when you return from Japan with the Yen, and you go into a bank that accepts foreign currency, does that bank pull out a De La Rue machine to check your Euro, GBP or Yen?  No they don’t and they will not when you exchange the IQD either.  [When the IQD gets value all banks with foriegn currency will exchange it. Right?]  Not necessarily so…and here is why…go to St. Maarten and those banks accept the USD, Canadian Dollar the Euro and GBP…and why? Because there is a market (tourists).  They don’t exchange the Yen because no visitors from Japan…no market.  …banks choose what currency they want to exchange just like any other product.  [We just might have to travel some distance.]  I agree totally with you about that…may have to travel.

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DinarUpdates.com News Time Chat 11-06-15 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: FIRST WHAT ARE WE WAITING ON THE INTERNATIONAL RATES TO CHANGE – RIGHT ?

Millionday: WHOOPOW

Millionday: FIRST SENTENCE >>>>>>>>>>>Seminar on the central bank auction and determine the foreign exchange rate

Millionday: NOW HERE WE GO

Millionday: Governor of the Central Bank of Iraq Ali Mohsen Keywords announced that the nature of the Iraqi economy Reclining on oil resources, make the relationship between fiscal and monetary policy, including an interactive relationship necessitated by the nature of the revenue and expenditure of the pricing of the dollar.
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Read More: http://www.dinarupdates.com/showthread.php?24167-Millionday-News-11-06-15
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Frank26 (Dinar Guru) – Abadi and his supporters…are NOT changing the budget! They just voted on it…passed it…and the HCL is inside of it.  THIS IS A FIRST…THIS IS HISTORICAL!  The evidence of 1 to 1 is pretty obvious…the GOI approved a new salary scale…which works out to a 1 to 1 ratio. The GOI is doing just things…especially with their ministers (and their pay scales) – as they work to accomplish entering into the international world with a new rate.  [post 2 of 2]

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Kaperoni (Dinar Guru) – Article quote:  “…former Planning Minister Mehdi al-Hafez, pointed out that the national need not require the continuation of the so-called dollar auction, organized by the «Central», but must be handled freely and without restrictions.”   …Mehdi al-Hafez is a big player in the economic plan in Iraq.  He is usually at most events.  And he clearly wants to end the auctions and let the dinar float.  Hopefully with all these experts/specialists speaking out, we can get the show on the road soon.

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Frank26 (Dinar Guru) – Today there was a meeting…they can’t have anymore money.  Aug, Sept, and Oct went by without their usual lump of cash to keep them going.  We are in total control of what is going on in there…  We have too much invested.  No more USD…no more foreign currency…they need to grow-up and guess what on the 5th of November Iraq will meet with the IMF in Jordan and prepare for the “grand-opening” day.  Who gives money to Iraq? The IMF and the USA.  The BILLIONS that are about to be given to Iraq…will enter Iraq for a completely different purpose (not to pay their bills) but to be distributed to the “BB” [Dr. Shabibi’s baby banks]. These will be used to loan money to the citizens to help build the country, businesses, etc.  [post 1 of 2….stay tuned]

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Iraq’s top Shi’ite cleric warns parliament not to stall Abadi’s reforms

http://www.dinarupdates.com/blog/ 

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firefly (Dinar Guru) – Countrys getting loans just prior to a currency increase is common practice and history.  A bank will not loan one money unless they feel the loan can be paid back!  11666 will NOT fill that obligation!  IMO, the time for talks and debates has come to an end.
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Mnt Goat (Dinar Guru) – They now have a fixed currency already. They already tried floating their currency and put it back on a fix. They have done this many times already…   The problem is they are still technically in sanctions from Article 8 of the UN war sanctions against Iraq.  Until they get their currency returned to them to the international/global arena they will remain in article 8, float or fixed it does not matter.  They need a “real” currency and not this play money. What we are looking for is for them to tell us they are launching the lower denominations notes, or  launching of the 50k / 100k notes or the continuing with the “project to delete the zeros” or the re-pricing the dinar against all international currencies and not just the US dollar.  Are they planning to go international?  Yes… the bottom line is they still have to do something with the currency first and they must realize eventually it is going international.
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BGG – RUMOR: Chalabi was about to go on TV and expose Maliki along with the rest of the corruption….
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Chalabi “delivers” the religious authority file [of] corruption before day of his departure

http://www.dinarupdates.com/blog/

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Poppy3 – THEY HAVE ALWAYS MENTIONED A MEDIAN RATE THEY CAN MAINTAIN … WHAT IS THAT RATE…NO ONE KNOWS YET BUT IT WILL HAVE TO BE SUBSTANTIAL TO FULFILL THEIR BUDGETS AND PAY LOANS ALONG WITH RESTITUTION LEFT UNPAID.  I AM CONVINCED PERSONALLY THAT RATE WILL BE CLOSE TO $3.00 PLUS. THIS IS MY OPINION ONLY BUT BASED ON STATEMENTS MADE BY SHABIBI AND HE IS STILL THE ONLY IRAQI THAT I CAN SAY NEVER LIED TO THE PEOPLE OF IRAQ AND US IN MY 12 YEARS OF FOLLOWING.
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Enorrste (Dinar Guru) – Therefore, I believe it is reasonable to conclude that, ultimately, this movement is being driven by the IMF and that they, along with the CBI, who are in the same pea pod as the IMF, have sold Abadi on the entire plan. Now we know that Abadi has sold his “reforms” to Parliament. In short, the ball is moving and I believe it will move quickly. Saleh has already been on record that the beginning of a year is the proper time to make this sort of major advance (the float). To conclude, these reasons bolster my view that we will see the float in early 2016.  [post 2 of 2]
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Enorrste (Dinar Guru) – I believe that Abadi has sold his program to the Parliament and that program is the CBI plan to raise the value of the dinar. This means that for the first time we have all of the major players on the same page, irrespective of Maliki’s attempt to meddle in the process.  I see forces moving that cannot be stopped easily.   Furthermore, if you recall, it was the IMF who insisted that the Investment Law be passed before the end of October, and it was, barely. It was also the IMF that stated unequivocally that Iraq would “enter the world market” in early 2016.   [post 1 of 2….stay tuned]
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tman23 – There are soooooo many studies completed by Ivy League schools And all of them that I have read come to a similar conclusion.  The conclusion is that a country entering a market economy and becoming an emerging market would find that floating it’s currency would be high risk and ultimately a disaster…AND foreign investment views a floating currency a high risk and large hedge fund managers and public traded companies would not take the high risk as they find the float unfavorable.
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Adam Montana (Dinar Guru) – I’m getting some positive messages from my contacts regarding possible movement on this.   HCL is definitely a hot item right now... excited to see how this proceeds.
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firefly (Dinar Guru) – Abadi is smarter!  Always 2 steps ahead of Maliki.  Maliki could make all the noise he wants. He has no power and his followers are too few to count and diminishing daily.  They have the goods on him. There is a reason the axe hasn’t fallen yet.
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Iraqi Dinar/Dollar auction (most recent listing – from) 11-05-15 

Currency Auctions Announcement No. 3067

This daily currency auction was held in the Central Bank of Iraq on the 11-05-2015

The results were as follows:

DETAILS	NOTES
Number of banks	23
Number of remittance companies	16
Auction price selling dinar / US$	1166
Auction price buying dinar / US$	—–
Amount sold at auction price (US$)	178,835,000
Amount purchased at Auction price (US$)	—–
Total offers for buying (US$)	178,835,000
Total offers for selling (US$)	—–

More: http://dinarupdates.com/blog/
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Mnt Goat (Dinar Guru) – …this past week there was much news again. Yet more news of the long awaited laws dealing with implementing the Abadi reforms.   I have talked about these laws and why they were important prior to any RV. Now we have a few of them remaining and we find a deadline of Dec 1st to complete. The HUGE news, the hot off the press news now is all about doing something with the Iraqi currency. This is all good and what we need to be hearing. We need to hear it because we all should know by now they NEED to get off the post war, UN sanctioned, provisional currency and go international. Iraq needs to get fully out of Chapter VII sanctions and article 8 provisions shutting down their currency from the international trading is the only thing left. 
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Frank26 (Dinar Guru) – they were going to do this in March..but they didn’t do it because of lack of stability…then by July again Shabibi says no…look at security…so they didn’t do it…Dr. Shabibi and Abadi got to work just after July…by Sept you see so many things being accomplished by Abadi and Shabibi…Yesterday Abadi said we are 100% secure here in our country…now…look to early October…the Unity Card…the amendments of the laws…removal of terrorism…the removal of bad cabinet members…they did it all...now we are in November which will show a plethora of information…what they said yesterday we confirmed that three months ago…their intent was to remove the US by 1/1/2016.   I think we need to see the removal of the USD in Iraq….the removal of Maliki before we see the raising of the currency rate.  There are many changes in Iraq…SECURITY, STABILITY, but no PROSPERITY at 1166…
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Frank26 (Dinar Guru) – they were going to do this in March..but they didn’t do it because of lack of stability…then by July again Shabibi says no…look at security…so they didn’t do it…Dr. Shabibi and Abadi got to work just after July…by Sept you see so many things being accomplished by Abadi and Shabibi…Yesterday Abadi said we are 100% secure here in our country…now…look to early October…the Unity Card…the amendments of the laws…removal of terrorism…the removal of bad cabinet members…they did it all...now we are in November which will show a plethora of information…what they said yesterday we confirmed that three months ago…their intent was to remove the US by 1/1/2016.   I think we need to see the removal of the USD in Iraq….the removal of Maliki before we see the raising of the currency rate.  There are many changes in Iraq…SECURITY, STABILITY, but no PROSPERITY at 1166…
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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 – see first post in this Thread: http://www.dinarupdates.com/forumdisplay.php?5-Current-Iraq-NEWS
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