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…

Mrs. BGG

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Indicative rates – 08.04.2016

http://www.cbi.iq/

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They have the usual socialist disease; they have run out of other people’s money. – Margaret Thatcher

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*** Current News ***

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Kaperoni (Dinar Guru) –   [Will Iraq have to get control of the MCP for the 90 days prior to a move in the dinar’s status?]  It is my understanding that the CBI will have to maintain the 2% spread for 90 days in order to get the green light from the IMF to move to Article VIII.    [If the currency is listed on Forex, doesn’t that mean the dinar is now in Article VIII?]  Interesting question.  I do not know if their is a direct relationship between participation in Forex and IMF Article VIII.  IMO, moving to Forex is more than just floating the dinar, it would provide the alternative they need to the daily auctions. Keep in mind, the CBI can float their currency at anytime without Article VIII.
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Adam Montana (Dinar Guru) –    […is there a  part of any  i.m.f. or world bank contract or translations, that  tells central bank of  Iraq, that when they go electronic banking there must be a value  to the dinar...?]  As much as I wish there were some kind of entity that could force the CBI to put a specific value on the dinar, I don’t believe anyone can force the CBI to do anything. Yes, there are influences and they will play nice with what other financial entities want, because the end goal is to be an internationally traded currency with a respectable value!  But nobody can “force” the CBI to do anything. That’s a good thing, though, because just like they can’t be forced to raise the value… they can’t be forced NOT to raise the value.
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Dinar Updates “After Call – LIVE”!!

“Immediately following News Time!!”
8/05 “After Call” – w/RCookie,
Mr White & Hutch
641-715-3640 pin# 528733

from 8/01 – Smart phone user link – Click here

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Kaperoni (Dinar Guru) –   [What, if any, laws are needed before Iraq can move to Article VIII?]  I am not aware of any laws persay that need to be passed, only restrictions that exist in monetary policy that conflict with the guidelines of Article VIII under the IMF.  Once they are in compliance, I would expect the CBI and IMF will be working to transition.  Under the IMF guidelines, central banks have to strive for Article VIII.  [To do this move, would the CBI have to remove all of the exchange restrictions?]  Yes.  Article VIII is the ideal situation for Iraq which benefits them when it comes to international acceptance and convertibility.  Keep in mind, Article VIII and currency reform are two separate issues.  I believe the CBI will begin to reform the dinar via float and delete the zeros before Article VIII.
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tlm724 (Dinar Guru) –    Articles:  “Alusi demanding the president to dissolve parliament and form an emergency government”   “Nassif: Defense Minister to offer me a million dollars in exchange for the postponement of questioning for a week”   Quote:  “I ask you and I ask all those responsible and sensible to dissolve parliament and to move the government of emergency and early elections.”    hmm could get ugly…that interrogation of Obeidi has stirred the pot big time. Nassif has accused him of trying to bribe her with a million dollars to delay the questioning.
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Adam Montana (Dinar Guru) –   One thing we should all know about how a dramatic increase in the value of the dinar will work is that nobody in Iraq (or anywhere else for that matter!) will go into a bank or currency exchange with dinar and then walk out with buckets or wheelbarrows full of another currency. That’s not how it works! We will either have to deposit it into their account, wire it to another account via their bank, or perhaps we will get a cashiers check.   Iraq faced a major problem 10 years ago that would have single-handedly prevented the RV, even if it weren’t for the broken GOI and everything else: Technology. Iraq did not have the technology to do a mass conversion of their currency. I am referring not only to the lack of technology in their paper currency itself, which made it easy to counterfeit, but also the technology in how their banks talk to each other, share funds, or even participate in the auctions…before ~2009 the ISX was basically done on chalkboards!  …but this is no longer the case. Check this out:  “The central bank plans to activate the electronic systems to minimize the cash trading process”  ...we are nearing the end of this ride. SO MANY things are now out of the way, the path forward is clearing up faster than a lot of people can believe, and we will see a rise in the value!   [post 3 of 3]
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Adam Montana (Dinar Guru) –  3. The news is showing more and more that Iraq is pushing to get control of ISIS. …I’ve even heard a few comments about how ISIS must be “completely destroyed” before an RV, but that’s just not true. ISIS influence on the stability of Iraq is dwindling.  4. In a continuing effort to bring Iraq as a nation closer together, we see more and more instances of the Kurds getting a larger share of the money. If you think back a couple years, you’ll remember that the biggest obstacle to the HCL has always been lack of cooperation from the Kurds, and for good reason. They were getting screwed! Since Abadi has taken the wheel, that has changed. We are closer than ever to an HCL. It WILL happen.  I saved what may be the best for last…   [post 2 of 3….stay tuned]
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Adam Montana (Dinar Guru) –   Here’s something I almost never do… a DATE! (Sort of.) Ready? September MAYBE, October I REALLY like.  I could be wrong – August is not completely ruled out in my book, but after doing these updates for so many years, and studying Iraq and other countries like a hawk for an even longer time… I think I have a good “feel” for the status. …these first 2 are the bad points. 1. It’s been my experience (and history/news/Google will back this up with facts) that after Ramadan, they (Iraq) either have things lined up and ready to reach a milestone…or they don’t.  Let’s face it, nothing major came after this most recent Ramadan. It doesn’t concern me about an “eventual” increase in the IQD, but I’m not going to expect it this week. 2. Remember what I was saying about “watch the oil” for the HCL to grow legs? Oil dipped again. Where it was once on the way back to a respectable $60ish range, it has dropped back down below $40 again.  Oil will go back up, and the HCL will get moving again, but I doubt August is our month.  Now let’s talk about some positive stuff… [post 1 of 3….stay tuned]
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rcookie (Dinar Guru) –    Article:  “Dinar on raising the money supply in the size of banks”   Quote:  “Currency market and called on the central bank to the registration of the Iraqi dinar in the foreign exchange market…”  HUGE INFORMATION IN HERE…HUGE!  CBI TO REGISTER IRAQI DINAR ON FOREIGN EXCHANGE MARKET!  FORM A JOINT STOCK COMPANY FOR THE MANAGEMENT OF ELECTRONIC TRADING & ISSUING SMART CARDSESPECIALLY DUE TO THE SHORTAGE OF CERTAIN NOTES LIKE THE 25K RESULTING FROM SMUGGLING…THEY ARE CITING THE SUCCESSFUL PROGRAM TEMPLATE OF THE KUWAITIS… TOWARD THIS MATTER!
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Iraqi Dinar/Dollar auction (most recent listing) 08-03-16

Currency Auctions Announcement No. 3249

This daily currency auction was held in the Central Bank of Iraq on the 08-01-2016

The results were as follows:

Currency Auctions Announcement No. 3250

This daily currency auction was held in the Central Bank of Iraq on the 08-02-2016

The results were as follows:

More: http://dinarupdates.com/blog/
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Bruce (Dinar Guru) –   Redemption centers are quiet. They are on blackout. Some that we know of, so probably all are ready for notifications. We believe that all are on an any moment basis. We heard this from many sources. We are not calling it, we are just telling you to the best of our ability that this is what we have been told that this is where we are.  I’m excited, but I’m cautious about making you all too excited. I’ve been affected by this over 12 years. I’m frustrated as well. But we are all in the same boat.  We will all receive the blessing together. We all go at the same time. Rates – my position has always been not to put out rates…rates could change up or down, at any moment.
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Bondlady (Dinar Guru) –  Article:  “Dollar rises again .. specialists are demanding the central bank to clarify the reason for the low value of the dinar”   …people are still sitting on their dinars, the CBI needs the majority of those dinars back, if the people won’t do it on their own, I wonder if the prices aren’t being manipulated, making things cost more money by making the dinar even less attractive and causing them to use more dinars for there purchases… end result would be the same just not as quick imo.
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rcookie (Dinar Guru) –    …PARLIAMENTS CONTINUATION OF OBEIDI’S CLOSED DOOR QUESTIONING SESSION IS OFF UNTIL NEXT TUESDAY THE 9TH…MANY WERE IN THE OBEIDI CLOSED DOOR SESSION…THE HOLDUP IS THE UNDERPINNINGS OF ADDRESSING CORRUPTION AND ESTABLISHING INSTITUTIONAL STABILITY THROUGHOUT IRAQ…INCLUDING…SECURITY… LEGISLATIVE…JUDICIAL AND ECONOMIC…
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Kaperoni (Dinar Guru) –   Article:  “Dinar on raising the money supply in the size of banks”  Quote:   “…called on the central bank to the registration of the Iraqi dinar in the foreign exchange market,…”    Bingo!  For those who don’t know…the foreign exchange market is Forex.  So they are ask the CBI to list the Dinar on the Forex for trading.  Which is exactly what we want…time to float the dinar and let the world market set the value.
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ADMINBILL (Dinar Guru) –   HERE IS WHERE I THINK WE ARE AT 1:40PM MDT TUESDAY AFTERNOON. I BELIEVE WE ARE IN THE PROCESS WHICH INCORPORATES THE CURRENCY AND THE BONDS.  I BELIEVE THAT THE BOND TRANSACTIONS ARE WHAT HAS BEEN HOLDING THE PROCESS UP BUT THAT IS A DONE DEAL NOW.  I BELIEVE THAT THE CURRENCY MUST PRECEDE THE BONDS TO SUPPORT BOND REDEMPTION OR, AT THE VERY LEAST, GO AT THE SAME TIME.  I DO NOT BELIEVE THE BONDS CAN PRECEDE THE CURRENCY. I FURTHER BELIEVE THAT WE MUST BE NEAR WITH THE CURRENT PUBLIC BOND DISCUSSIONS…MY OPINION ONLY.
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Shredd (Dinar Guru) –   Article:  “Dollar rises again .. specialists are demanding the central bank to clarify the reason for the low value of the dinar”  With the money supply reducing and the economic growth trending, along with laws continually being implemented and the demand for Iraq’s oil as well as the continued support from her allies during the recent fluctuation in oil prices, there needs to be a growing urgency for the dinar to more closely represent it’s true value.
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E-Currency

Yasser incumbent – Received a seminar « the introduction of the electronic currency trading and cash deal» the economic importance of direct and semantic interest group of business and finance experts and economists and interacted with the event organized by the progress of policy development institute and as usual in the selection of sensitive topics related to seek the requirements of economic reform efforts by the Central Bank of Iraq on the path of preparation to announce the date of implementation of this advanced program in the world for the daily market transactions where the Governor of the Central Bank announced the date of the implementation of the program during 2017…

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

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firefly (Dinar Guru) –  Reuters Article quote:  “Ahli United Bank (AUB), Bahrain’s largest lender, has raised its stake in Commercial Bank of Iraq to 64.71 percent, according to a stock exchange statement.  AUB purchased a 10 percent stake in Commercial Bank of Iraq…”  Reuters!!! AUB purchased 25 billion additional shares in the bank. It did not mention the price AUB paid for the shares.   In addition to Iraq, AUB has a presence in Kuwait, Egypt, Libya, Oman and Britain.
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rcookie (Dinar Guru) –   Article:  “Defense Minister accused of involvement in corruption-Jubouri”   ABADI IS KNEE DEEP IN COMMITTEE TO INVESTIGATE CORRUPTION IN ARMS DEALS AND CONTRACTS...  Quote:   “…the parliament session yesterday that saw the questioning of the Minister of Defense was an important turning point in the history of the Iraqi Council of Representatives for being strengthened oversight role of the legislative authority.”   SO…THE MERE FACT THAT A MAJOR ACTOR LIKE OBEIDI WAS BROUGHT TO PARLIAMENT YESTERDAY TO FACE QUESTIONING …UNDERSCORES AND STRENGTHENS THE COUNCIL OF REPRESENTATIVES OVERSIGHT ROLE OF THE LEGISLATIVE BODY…JUST GETTING THEIR MINDS RIGHT AS TO THE CHAIN OF COMMAND…NEW AREA OF TRANSPARENCY… ACCOUNTABILITY TOWARD TACKLING CORRUPTION REGARDLESS OF POSITION OR TITLE…
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mike (Dinar Guru) –   Article:  “House of Representatives questioned the Minister of Defense , headed by Vice President Sheikh Mohammed Iaram”    …the political circus is still going strong. They got rid of the Interior Minister and now they’re going after the Sunni Defense Minister who’s throwing shade at Jabouri, the Sunni Speaker of the House. If they keep up, there won’t be anyone left in Parliament to throw shoes at. The other thing…Parliament’s out until August 9th, another week off after they just got back from vacation.  
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RCookie NEWS Recap
(from) MONDAY August 1st, 2016

PARLIAMENT

SECURITY AND INTELLIGENCE COMMITTEE QUESTIONS OBEIDI TODAY IN CLOSED DOOR SESSION….PARL VOTED ON BAATH PARTY LAW, CANDIDATES FOR FEDERAL PUBLIC SERVICES BOARD, LAW OF VICTIMS OF JUSTICE COMPENSATION, DRAFT OF ACCESSION TO AFRICAN EURASIAN WATERFOWL, AND DISCUSS CANCELLATION OF REVOLUTIONARY RESOLUTION COMMAND COUNCIL ACT, TAKE CARE OF MINORS LAW NO.78 AND 1ST DRAFT LAW ANTIQUITIES & WORLD HERITAGE IN FRONT OF 182 DEPUTIES.…JABOURI STATES OBEIDI TIRADE & ACCUSATIONS IN PARLIAMENT SESSION WAS THEATRICS TO AVOID & DISTRACT FROM FURTHER QUESTIONING & ABADI ASSERTS INTENTION TO LAUNCH INTEGRITY INVESTIGATION TO DISPELL ARMS & WEAPONS CONTRACT CORRUPTION FILES WITH JABOURI EVEN OFFERING TO RESIGN AND RESUME SESSION ON TUESDAY THE 9TH…JABOURI THREATENING TO RELEASE FULL VERSION OF AUDIO/VIDEO QUESTIONING OF OBEIDI IN RESPONSE TO OBEIDI ACCUSATIONS TODAY UNEDITED FULL COLOR VERSION…AMERI WELCOMES NOMINATION OF ARAJI FOR INTERIOR MINISTER WITH APPROVAL OF BLOCS…PARLIAMENT FINANCE COMMITTEE ELECTS AL-HALBUSI AS CHAIRMAN…INTERIOR MINISTRY AND INSPECTOR GENERAL & DIRECTOR GENERAL ANNOUNCES FORMATION OF SPECIAL OPERATIONS STRIKE FORCE TO REVIEW AND PROSECUTE CORRUPTION WITHIN MINISTRY…JABOURI SACKS SECRETARY GENERAL OF COUNCIL OF REPRESENTATIVES NAME AS PART OF REFORM INITIATIVES WITHIN LEGISLATION…NATIONAL ALLIANCE CALLS FOR PROFESSIONAL DEALING WITH ACCOUNTABILITY & JUSTICE DECISION…JABOURI CONFIRMS SIGNATURES NECESSARY FOR CONDUCTING EMERGENCY SESSION OF PARLIAMENT TOMORROW…VOTE POSTPONED TO CHALLENGE JUDGEMENT AND DECISIONS OF “REAL PROPERTY LAW”…

Read More: http://www.dinarupdates.com/blog/
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firefly (Dinar Guru) –   Rasheed bank stated they cannot issue Mastercards without the deletion of the zeros…
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rcookie (Dinar Guru) –    Article:  “CBI gives, government banks until next September, to adapt itself to electronic systems”   CBI ISSUES STATEMENT GIVING BANKS UNTIL SEPTEMBER TO ADAPT & IMPLEMENT ELECTRONIC TRADING SYSTEMS TO ADDRESS CASH CIRCULATION PROBLEMS (LIQUIDITY)…
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mike (Dinar Guru) –   Article:  “Iraq’s oil exports rise 3.2 million barrels in July”   3.2 mbpd multiplied by roughly $40 bucks a barrel gets Iraq a skosh over $3.8 billion a month in earnings…they’re not even making enough to make payroll.   Add in the war on ISIL, infrastructure expenses and a bunch of other stuff and these guys aren’t in a good place financially.
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firefly (Dinar Guru) –   Expecting a lot of forward movement!  Things are moving along quite nicely.
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