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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| CURRENCY | CODE | SELL | BUY |
| US dollar | USD | 1182.000 | 1180.000 |
| Euro | EUR | 1334.478 | 1333.811 |
| British pound | GBP | 1560.358 | 1559.578 |
| Canadian dollar | CAD | 912.953 | 912.496 |
| Swiss franc | CHF | 1221.958 | 1221.347 |
| Swedish krona | SEK | 140.726 | 140.656 |
| Norwegian krone | NOK | 144.266 | 144.194 |
| Danish krone | DKK | 179.216 | 179.126 |
| Japanese yen | JPY | 11.767 | 11.761 |
| Special Drawing Rights |
SDR | 1660.154 | 1659.324 |
http://www.cbi.iq/
Indicative rates – 08.29.2016
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God grants liberty only to those who love it, and are always ready to guard and defend it. – Daniel Webster
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*** Current News ***
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BGG (Dinar Guru) – I cannot see how anyone is actually following the financial details of this thing and not be thoroughly EXCITED about where we are (finally!)…One point that gets missed alot – they have signed deals and agreed to remove and adhere to a more “international standard” regarding their internal MCPs… (…”multi-currency practices”)… THIS IS HUGE… MCPs coming to an end…this is a big point in their whole “economic reform package” – it is a complete overhaul… MCPs and currency being only one point of the program…even until recently – they are still (or have been) operating under some odd MCPs. The WB and IMF doesn’t like it…they have agreed to change – are taking direct action and have taken on breath-taking reforms daily…it’s happening before our very eyes…and my final thought is this… [post 1 of 2….stay tuned]
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www.DinarUpdates.com – save as favorite!
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Phoenix3333 (Dinar Guru) – Article: “Iraq’s Credit Rating (B- / B) with a stable outlook (Standard & Poor)” Quote: “Set the credit rating agency Global Standard & Poor ‘s , on Saturday, its credit rating for Iraq when (B- / B) with a stable outlook. The experts say that this class is very close to the economic reality of Iraq under the circumstances witnessed by the decline in oil prices and the war on « Daesh »terrorist.”
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mike (Dinar Guru) – Article: “Economist: 2017 investment budget will not be implemented because of the magnitude of the deficit” Quote: “It is said that the Prime Minister Haider al-Abadi, said he was determined price of $ 35 per barrel of oil within the 2017 budget, noting that the 2017 budget suffers from a large deficit to a lack of oil imports, compared with a rise of employees and retirees salary cap.” This guy is spot on about the investment side of the budget, its a figment of imagination. If Iraq pumps 3.5 mbpd at $35 or $40 a barrel, that’s only $50 billion annually, that’s just enough for payroll. From what I’ve read, the IMF is trying to get rid of this kind of stuff but even with that, there’s nothing left for infrastructure or government owned enterprises, oil won’t cut it anymore.
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Breitling (Dinar Guru) – …Iraq has always stated they want to get down to a billion notes…the last report that I’ve seen they were at 4 billion notes. Since then they have gotten rid of the 50 dinar note. 80 to 85% of their currency is the 25K note. They are introducing the 50K note and the 100K note…they haven’t done it yet but if they do that is going to allow them to take a certain amount of 25k notes off the market and it’s going to reduce the note count even more. Pushing forward there is no bad new here. People are in panic mode cause it’s complete opposite of what they think. If you strictly go by the numbers the dinar is a phenomenal opportunity, it hasn’t changed. How many countries are out there saying they’re going to add value to their currency? There’s only one. Not only that but they created a checklist on exactly what they need to do to add value to their currency…they said eventually they were going to reduce the note count and they’ve hit every flip’n mark and people are still blind to it!
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“Immediately following News Time!!”
Tues. 8/30 “After Call” – w/RCookie,
Mr White & Hutch
Dial in #641-715-3640 pin#528733
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rcookie (Dinar Guru) – Article: “Government Basra suffered projects in front of the World Bank for a loan to be implemented” Quote: “…for his part, the regional Director of the World Bank Farid Belhaj the projects that the World Bank has financed prejudice directly in the lives of citizens…” THE INT’L AGENCIES ACTING AS A DIRECT LENDING AGENT TO THE PROVINCES FOR DEVELOPMENT PROJECTS…WHICH FACILITATES THE TRANSFER OF POWERS FROM THE CENTRAL TO THE PROVINCES… CUTTING OUT THE CORRUPT MIDDLEMAN…AND IN THE END ASSURING THE FUNDING OF THESE CRITICAL INFRASTRUCTURE PROJECTS GETS TO SOURCE IT WAS INTENDED FOR…GREAT NEWS FOR THEM!
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rcookie (Dinar Guru) – PARLIAMENT VOTED ON DISSATISFACTION OF ZEBARI ANSWERS TO QUESTIONING AND GOING TO HOLD VOTE ON WITHDRAWAL OF CONFIDENCE NEXT WEEK….SIMILAR TO WHAT OBEIDI JUST WENT THROUGH…THE KURD DELEGATION OBJECTED TO THE MEETING AND A FISTFIGHT BETWEEN ATTORNEY HAITHAM JABOURI & KURD DELEGATES BROKE BEFORE THE KURDS WALKED OUT OF THE SESSION…PARLIAMENT SESSION LIFTED UNTIL MONDAY…
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firefly (Dinar Guru) – Vietnam announced on Bloomberg twice now that they are revaluing their currency! Now why would they announce that if their was no plans? I saw it with my own eyes. Kinda shocked me actually that they would make that announcement. I have no idea about the rate just the announcement…remember pre war their currency was valued at 2.22. [when did they announce this… recently?] Pretty much the same time Iraq started talking openly about it. Press Release: Vietnam: 2016 Article IV Consultation- Press Release; Staff Report; and Statement by the Executive Director for Vietnam Quote: “A new government took office in 2016 with a commitment to reforms that, if implemented, would place Vietnam in a sound position to achieve its ambitious development goals.”
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Iraqi Dinar/Dollar auction (most recent listing) 08-29-16
Currency Auctions Announcement No. 3269
This daily currency auction was held in the Central Bank of Iraq on the 08-29-2016
The results were as follows:
| DETAILS | NOTES |
| Number of banks | 32 |
| Number of remittance companies | 15 |
| Auction price selling dinar / US$ | 1182 |
| Auction price buying dinar / US$ | —– |
| Amount sold at auction price (US$) | 133,530,024 |
| Amount purchased at Auction price (US$) | —– |
| Total offers for buying (US$) | 133,530,024 |
| Total offers for selling (US$) | —– |
More: http://dinarupdates.com/blog/
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rcookie (Dinar Guru) – Article: “Zaidi reveals a tendency to withdraw confidence from Zebari and put Abadi list of respondents” Quote: “The House of Representatives may interrogate the finance minister, Hoshyar Zebari, in its meeting…” LOOKS LIKE NOT EXACTLY HAPPY WITH ZEBARI ANSWERS AND VOTE OF WITHDRAWAL OF CONFIDENCE NEXT WEEK…
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Islandg1211 (Dinar Guru) – Why didn’t they RV by Mid-Year? That’s a good question which no one knows. What we do know is that when the IMF came up with their plan for Iraq last December, they had assumed that Abadi would get his technocrat government and the laws would be passed. Instead, there’s been a seven month delay with the GOI. Corruption is a top priority. That’s a political battle since everyone is corrupt. But, there is progress. The CBI isn’t going to RV until corruption got under control. In addition to getting all seven new Ministers voted in by the GOI, Abadi will next need to get proxy positions properly voted in. That includes the Governor of the CBI position. The First thing a country needs to do after war is RV. Mosul will be liberated in the next few months. The GOI just needs to pass a few more laws and approve a few more positions. The WB and the IMF are ready with loans to help Iraq through their double crises of ISIS and low oil prices. Basra is doing well economically. IMO, this time around when there is peace, Abadi will RV. The IMF historically prefers April to RV, or Fall. [post 2 of 2]
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Islandg1211 (Dinar Guru) – IMO, It was a failed policy to delay the RV last time they had peace and I don’t think they will delay again. When will the CBI RV? That question has been asked and answered over the years by both the former CBI Governor and Architect of the Monetary Reform, Dr. Shabibi, and by the proxy Maliki appointed governor Allek. They both said, “when the conditions are right. There needs to be stability and security.” Where are we at now with security and stability? Political Stability: After nothing but political conflict the entire 2016, GOI is finally making some progress. They approved five of Abadi’s choice of technocrats Ministers...His choice of Interior Minister is being discussed now, and the remaining two positions should go through within the next month. Corruption: Laws: The Amnesty Law was passed yesterday. This goes directly in dealing with corruption. Next week they are working on the Judicial Law. Prosecution: UN has stepped in to help with investigation and prosecution of corruption. [post 1 of 2….stay tuned]
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firefly (Dinar Guru) – IMO Vietnam is hot, hot hot. I read an article last week from there. If you took the word Vietnam out of the article, you would swear it was from Iraq…Using words…or phrases…like “private sector” “IMF”, “World Bank”. The announced they are Basel 2 compliant a few weeks ago.
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Standard & Poor’s sustains ratings on Iraq at ‘B-/B’
(IraqiNews.com) Baghdad – Standard and Poor’s financial services company has affirmed the ratings of Iraq at ‘B-/B’ with stable outlook.
S&P stated that the stable outlook incorporates expectation that the large budget and external deficits could be financed, and the conflict with ISIS will be contained.
Standard & Poor’s also predicted Iraq’s real GDP growth to fall below 2% in 2017-2019 due to the negative effects of fiscal consolidation and weak domestic demand.
RCookie: THIS IS THE NEWLY FAMOUS ARTICLE 14 FROM THE 2016 IMF MEMORANDUM ON ECONOMIC & FINANCIAL POLICIES..THAT WE DISCUSSED ON MOST RECENT CALL….
“14. The government will gradually remove remaining exchange restrictions and multiple currency practice (MCP) with a view to eliminating exchange rate distortions. Such a move towards acceptance of the obligations under Article VIII of the IMF’s Articles of Agreement will send a positive signal to the investment community that Iraq is committed to maintain an exchange system that is free of restrictions and MCPs for current international transactions and thus facilitate creation of a favorable business climate. As a first step, the Council of Ministers will approve and introduce to parliament an amendment of the Investment Law, or the CBI will issue clarifying implementing regulations, to remove the limitation on transfer of investment proceeds that gives rise to an exchange restriction (SB Table 5), as recommended by a recent technical assistance mission of the IMF. As a second step, the CBI will, by the end of 2016, make the weekly limits on the purchase of cash at the weekly foreign currency auctions indicative, in the sense that any bank requiring additional cash for their clients’ legitimate travel expenses will be able to obtain the required amount above these limits on the basis of appropriate documentation. The CBI will make the public aware of such a policy by explaining it through a press conference and on its external website…”
RCookie: AMENDMENT OF INVESTMENT LAW……OR…..THE CBI WILL ISSUE CLARIFYING IMPLEMENTING REGULATIONS TO REMOVE THE LIMITATION ON TRANSFER OF INVESTMENT PROCEEDS THAT GIVES RISE TO AN EXCHANGE RESTRICTION..AS RECOMMENDED UNDER RECENT IMF TA REVIEW…
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rcookie (Dinar Guru) – Article: “Transportation signed a contract with a French company for the transfer of cement” … GENERAL TRANSPORT COMPANY SIGNING BIGGEST CONTRACT IN THE COMPANIES HISTORY WITH FRENCH COMPANY LAFARGE … HMMMMM…IN TODAYS NEWS ALONE…GERMANY…JAPAN WITH TOYOTA…THE FRENCH WITH LAFARGE…KOREA AND US WITH THE NEW 15.5 SQ MILE CITY IN ANBAR…KUWAIT & UAE IN TH NEW KARBALA CITY…THE UK AND IBBC CUED UP IN BASRA AND KURDISTAN… WOW… SURE WOULD BE NICE IF IRAQ COULD GET SOME SIGNS OF CONFIDENCE FROM THE INTERNATIONAL INVESTMENT COMMUNITY… [ 🙂 ]
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firefly (Dinar Guru) – …expect a lot of announcements! BIG ones. It has already begun. We are watching the reforms take place before our very eyes.
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Breitling (Dinar Guru) – Getting questions about the 100K and 50K dinar notes…are they going in the wrong direction and will this delay the RV? No it will not. The CBI has said they are going to reduce the note count. They are going to introduce new notes even notes that are worth a tenth of a penny likes yours and mine, the 50K note , the 100K but eventually they are going to introduce the lower notes and these will commingle and both will gain value for about a two year period…and that is what the CBI has said…the 100K notes and the 50K notes is about reducing the note count…This is a not a threat…this is a good thing, a very good thing for us. …Instead of four 25K notes they only need one 100K note. That’s going to help them later on down the road…There is no reason AT ALL to introduce the 50K or 100k note if they are not going to revalue the currency and add value to it.
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Frank26 (Dinar Guru) – IMO …NO country is as advanced or best prepared to do an RI into an RV of their MR… Than Iraq. At this present TIME FRAMED … The USA/IMF has ONLY one girl at the Prom right now … Iraq. There are more Prom’s … Coming.
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Iraqi Dinar/Dollar auction (most recent listing) 08-28-16
Currency Auctions Announcement No. 3268
This daily currency auction was held in the Central Bank of Iraq on the 08-28-2016
The results were as follows:
| DETAILS | NOTES |
| Number of banks | 32 |
| Number of remittance companies | 15 |
| Auction price selling dinar / US$ | 1182 |
| Auction price buying dinar / US$ | —– |
| Amount sold at auction price (US$) | 130,888,027 |
| Amount purchased at Auction price (US$) | —– |
| Total offers for buying (US$) | 130,888,027 |
| Total offers for selling (US$) | —– |
More: http://dinarupdates.com/blog/
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rcookie (Dinar Guru) – Article: “Start counting the votes to withdraw confidence from the Secretary of Defense, or lack thereof Obeidi in questioning session” Quote: “Parliament has been made to withdraw confidence from the Minister of Defense secret ballot.” OBEIDI IS GONE!
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SteveI (Dinar Guru) – Article: “Iraq parliament impeaches defence minister” Quote: “Obeidi lost a no confidence vote by 142 votes to 102 in a secret ballot…” Great job boys. Keep the corruption out of government.
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rcookie (Dinar Guru) – Article: “Documentation” general amnesty law passed by the Iraqi parliament today” PUT THIS ONE IN A GOLD FRAME! Article: “Jubouri: Parliament pasts passage of important legislation and wait for Justice and Accountability Act” WOW!!…SCHEDULED FOR TUESDAY 30TH…BUT THEY ARE WORKING ON VERBIAGE OF CONTENTIOUS ARTICLE WITHIN THE LAW…JUST LIKE GEN AMNESTY… THIS IS GOOD! JUST WHAT THE IMF ORDERED…THIS IS GETTING REALLY INTERESTING!
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Iraqi Dinar/Dollar auction (most recent listing) 08-25-16
Currency Auctions Announcement No. 3267
This daily currency auction was held in the Central Bank of Iraq on the 08-25-2016
The results were as follows:
| DETAILS | NOTES |
| Number of banks | 31 |
| Number of remittance companies | 15 |
| Auction price selling dinar / US$ | 1182 |
| Auction price buying dinar / US$ | —– |
| Amount sold at auction price (US$) | 136,030,555 |
| Amount purchased at Auction price (US$) | —– |
| Total offers for buying (US$) | 136,030,555 |
| Total offers for selling (US$) | —– |
More: http://dinarupdates.com/blog/
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Mountainman (Dinar Guru) – TIME is RUNNING OUT…The OLD PLAY BOOK will NO LONGER Hold It’s TRADITIONAL Weights and Measures So to Speak…and the MARKETS are ACUTELY AWARE to the COMING Changes, they Just haven’t Figured Out {ALL} the DETAILS YET…However, like EVERYTHING Else in this WORLD…TIMING Will MANIFEST that Which is HIDDEN and {ALL} Will Come to Light, at The SPEED of LIGHT…Thru TECHNOLOGY and CYBERSPACE via the IEX and CIPS. THE GLOBAL STAMPEDE and The MARKETS will…shall We Say, Have A CHAIN REACTION that Will ENSUE…INDEED IMO.
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Frank26 (Dinar Guru) – I see Mosul being given to you bit by bit…counterfeiting coming to an end and being dealt with…and all the systems they are putting up and all the agencies that are there…there is a lot of policing going on…and this is what we need…the corruption has got to stop in order for them to give you Mosul…in order for them to give you the MR…and and I see the 2017 budget…they are going to have it in mid-September…I see the CBI working with banks…I see companies that are coming in…I see a lot of things that are very good. …they are going to come out with a 100,000 note…It is for banking business and they even made it very clear that is what it was for…these higher notes will eventually become a part of the electronic digital system that Iraq is going into… This is their plan…the plan that was derived in December with the IMF and Iraq along with Dr. Shabibi and Abadi…and we basically said at that time the US which is basically the IMF took Iraq by the ear and said…we are going to throw you into the international world in the first half and in the second half it is up to you to raise your value and that is where we are at right now…
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rcookie (Dinar Guru) – Article: “Iraq’s parliament approved a general amnesty law and the president wed human people” BOULYAAH! THEY 1ST HAD A VOTE SEPARATELY ON THE CONTENTIOUS ARTICLE 4..AND 8…BROKE FOR A HALF HOUR AFTER MEETINGS WITH BLOCS…THEN CAME BACK TO VOTE ON LAW FULLY…AND…THE VOTE ON OBEIDI’S WITHDRAWAL OF CONFIDENCE BEING DONE IN SECRET BALLOT SESSION….AND THEN HES GOT ZEBARI WAITING TO BE QUESTIONED…
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DU NEWS RECAP by RCookie
(from) THURSDAY AUGUST 25th, 2016
SECURITY
JOINT OPERATIONS CONFIRM FULLY EDITED QARRAYAH AND IRAQI FLAG RAISED OVER THE BUILDINGS…INTERNATIONAL COALITION CONDUCTS 14 SORTIES ON ISIS IN IRAQ & SYRIA…36 ISIS ELEMENTS KILLED ON IRAQI AIRWAYS RAID AND ISIS POLICE HEADQUARTERS DESTRUCTION IN MOSUL…ABADI & SYRIAN FOREIGN MINISTER MEET TO DISCUSS SECURING THE BORDER BETWEEN THE 2 COUNTRIES…ISF ANNOUNCES KILLING OF AL-BAGHDADI AIDE ABU HAMZA UZBEK…ISF JOINT COMMAND ANNOUNCE 1300 ISIS ELEMENTS HAVE BEEN KILLED IN KHALIDIYAH ISLAND SINCE BEGINNING OF OPERATION…IRAQ RECEIVES SECOND DELIVERY OF CZECH L-159 FIGHTER AIRCRAFT SINCE NOV 2015 TO BALSD AIRBASE NORTH OF BAGHDAD WITH 31 IRAQI PILOTS TRAINING FOR THE 15 TOTAL AIRCRAFT THAT WILL MAKE UP THE FLEET…
Read More: http://www.dinarupdates.com/blog/
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rcookie (Dinar Guru) – Article: “Iraq: next year’s budget deficit of $ 18 billion” Quote: “Financial adviser to Iraqi Prime Minister, on Wednesday, announced the end of the Ministry of Finance of the preparation of the 2017 budget, worth more than 100 trillion Iraqi dinars; about $ 82 billion, depending on the calculation of the price per barrel to $ 35.” SO…AGAIN… SALEH STATING OTHER THAN BEING DEEMED A TRANSITION FROM “WAR ECONOMY TO PEACE ECONOMY”…2017 BUDGET SAME AS 2016 BUDGET…AROUND 100 TRILLION IQD ($82 BILLION)…OIL CALCULATED AT $35 @ 3.6 MBPD…WITH DEFICIT OF 24 TRILLION IQD ($18 BILLION) AND DELIVERED TO PARLIAMENT BY SEPT 10TH...
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Mnt Goat (Dinar Guru) – Iraq is on the right path and I could hardly believe my eyes when I finally heard the news of the passing of the Amnesty law. Yes – this law did finally pass in parliament today 8/25. This law is going to make a HUGE, HUGE difference in Iraq. So next we need to see the Accountability and Justice law, combined along with the Amnesty law these two laws work together to bring the needed justice to Iraq. Also with the new technocratic minister of energy just appointed, he has told us already there is no need for any delay in getting an energy law (HCL) for Iraq as it is now written and only needs to be presented to parliament for a vote. So we should watch for this law too in the coming days…We are now in the third phase of Abadi’s reform plan and many amazing changes have since happened in Iraq. This all moves Iraq to working in an international platform, the only way they will EVER revalue their currency. …your investment in the Iraqi dinar is real and will soon be exchanged at a higher rate (at a substantial higher rate). Yes – Iraq has postponed the RV many times already and this is real!
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Stryker (Dinar Guru) – I am heartbroken to announce that we have lost yet another dinar member and one of the leaders in the facts concerning the Iraqi dinar, BondLady has passed away unexpectedly. We have lost one of our most respected leaders in the research of real facts in our journey. It was unfortunate that Bondlady and I had a falling out but I never lost my respect in the fact that she was dedicated in trying to uncover the facts for her members. May she watch the rest of the Iraq dinar future from the heavens and help our Lord lead others as one of his angels as she did here on earth. RIP dear angel we will all miss you…
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