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 | 1326.795 | 1326.132 |
| British pound | GBP | 1538.728 | 1537.958 |
| Canadian dollar | CAD | 892.614 | 892.168 |
| Swiss franc | CHF | 1216.926 | 1216.317 |
| Swedish krona | SEK | 137.536 | 137.467 |
| Norwegian krone | NOK | 145.982 | 145.909 |
| Danish krone | DKK | 178.066 | 177.977 |
| Japanese yen | JPY | 11.752 | 11.746 |
| Special Drawing Rights |
SDR | 1653.736 | 1652.909 |
http://www.cbi.iq/
Indicative rates – 10.04.2016
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Inflation is the most universal tax of all. – Thomas Sowell
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*** Current News ***
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Economist: banking law ensures that the money deposited in state banks , even if stolen
Said economist Majid picture, that the Iraqi law guarantees citizens who deposit their money in the safety of government banks the money, even if they are stolen.
He said that the picture of “Iraq has enormous economic potential and talking about the depletion in the economic life for him to correct his theories,” noting that “one of the best economic potential, which we are tourist traffic and the entry of foreign currency into the country and continuously increasing and this requires the Government to invest this side is actual”… (Special thanks to RCookie – BIG PIECE!!)
Read More: http://www.dinarupdates.com/showthread.php?42063-Economist-banking-law-ensures-that-money-deposited-in-state-banks-even-if-stolen
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Backdoc (Dinar Guru) – Article: “Central: The dollar fell a natural reserve and we have enough to import a long time” Article quote: “Counting the Iraqi Central Bank on Tuesday reduced its reserves from the dollar, “a natural phenomenon” due to lower selling prices, and stressed that this decrease was “vain” and achieved “very important” economic purposes, social, and as pointed out that the current reserves “are sufficient to cover currency exporting and imports for a long time…” THIS ARTICLE OF “ACTION” IS VERY TELLING INDEED! ALL OF THE SUDDEN THEY HAVE THE NEED TO DE-DOLLARIZE, HEE HEE. AHH BUT THOSE DOLLARS SEEMED TO SERVE THEIR PURPOSE DIDN’T THEY? WITH SOME TYPE OF ACTION TAKEN THERE SEEMS TO BE NO REASON TO HANG ON TO EXCESS DOLLARS THAT ARE GOING DOWN IN VALUE RIGHT? HEE HEE. IT SEEMS THEY HAVE ENOUGH FOR A LONG TIME NOW! GOTTA LOVE THIS ARTICLE! ACTIONS MEAN THINGS! IMO.
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Dinar Updates “AFTER CALL – LIVE”!!
“Dinar Q & A Call!!”
Tues – Oct 4th 8:30pm EST
w/RCookie, Mr White & Hutch
Smart phone user link – Click here
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Frank26 (Dinar Guru) – …WF [Wells Fargo] has spent millions of dollars this year to put up some screens in their front lobby…and when you walk into WF, do you know what you see? These big TV screens … and do you know what is on them? Foreign Currency Rates. Why would WF even bother to spend millions of dollars to let you know what the rate is of foreign currencies? What, are they preparing for something? Is the monetary reform coming to an end? …this is an indicator… how fast and how far things are going along.
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rcookie (Dinar Guru) – Article: “Financial inspector declares re 31 billion dinars to the state treasury” Quote: “…the Office of Inspector General of the Ministry of Finance was able to re amount of 31 billion dinars, the public treasury of the state for the benefit of, the impact of investigations, inspections and investigations rotating established by the Bureau during the first half of the current year.” SO 31 BILLION IQD RETURNED TO STATE ACCOUNTS IN 1ST 6 MONTHS OF 2016…
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Frank26 (Dinar Guru) – The police action that has gone into Iraq from the UN has discovered that over 300 companies are involved in stealing out of Iraq’s Central Bank. Isn’t the IMF going ballistic because of this information? Oh yes! We are cleaning it all out – like a root canal. Trillions have been traced/stolen… if they bring those dinars back…wow! According to recent articles – the citizens are now trusting the banks in Iraq. That is important part of the monetary reform! So they’ve taken them from a Black to a Gray to a White List. you know what a white list means? It means that their banking structure has no restrictions on them. [post 2 of 2]
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Follow us on twitter @DinarUpdates !!
Don’t MISS – “DU NEWS TIME” w/RCookie, Mr White & Hutch in the DU CHAT ROOM – Oct 4th 7:30pm EST
www.DinarUpdates.com – save as favorite
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Frank26 (Dinar Guru) – All Providences are preparing themselves to deal with the INTERNATIONAL world. …it’s no longer about terrorism. Iraq desperately wants to join the international world – but corruption is everywhere. Who’s behind the corruption? The ministers who have been stealing from parliament or the CBI through the auctions. Remember, the auctions used to be between 3 to 4 Million a day? Now these auctions are much, much lower. Family members of the GOI and banks in other countries have been involved in stealing money. The UN is looking at everything to help Iraq move into an International market place. The international world is looking inside of Iraq…to help them become international. The UN is there to provide discipline and stop the corruption…security teams with the UN are there. [post 1 of 2….stay tuned]
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Kaperoni (Dinar Guru) – […is there any part of you that feels the dinar will never reevaluate] I am certain the dinar will rise as a result of opening the market economy. Do I fear a delay? Yes. As long as Maliki can interfere delays can and probably will happen.
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rcookie (Dinar Guru) – FYI…LOWER AUCTION SALES NOT CORRELATED WITH REDUCING NOTE COUNT…[Do the lower numbers over the last week or so tell us anything?] YES…THAT THE UST HAS PUT ITS PIMP HAND DOWN IN THE CBI…BLACKLISTED 300 AUCTION ACTORS TODAY…
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These are the files of corruption investigated by the UN team in Iraq
Baghdad to Babylon 24 /. . After decide to send international investigators to Iraq to investigate Iraq’s inability to investigate them, and caused the loss of more than by the United Nations to investigate corruption files big, that $ 800 billion, the detection of the most prominent files that will be (investigated)…
Read More: www.DinarUpdates.com/blog
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BGG (Dinar Guru) – WHAT DID SHABIBI SAY WAS MOST IMPORTANT DETERMINANT TOWARD MONETARY REFORM. 1) inflation 2) corruption? Article quote: “Annual inflation index in Iraq decreased slightly by 0.2%, during the period from August / August 2015 and up to the same month of 2016, while the monthly inflation index rose in August.” So if, as Dr Shabbibi said – it’s about inflation and corruption – these things are being dealt with directly…it appears they are making direct and rapid progress as per their agreements, directives and oversight from the IMF from the summer and before. It’s IN THE WORKS NOW!!
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BGG (Dinar Guru) – [There are 5 sovereign Ministers for the GOI, 2 are filled. What’s the prospects of completing all 5 with the inclusion of the above ministers?] The filling of these positions is inevitable. When – may be another story… However, given their recent progress – I doubt there are any long term hold-up’s. I just don’t see it.
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rcookie (Dinar Guru) – …IRAQ STRUCK DEAL IN JULY TO COMPLETE MONETARY REFORMS INCLUDED IN 2017 BUDGET…WHICH THEY DID…AND US HAS NOT HELD ITS END OF THE BARGAIN AS FAR AS GUARANTEEING HALF OF THE BONDS…WHICH WERE IN THE 2016 BUDGET AS WELL AS THE PENDING 2017 BUDGET…THEY ARE SAYING THEY ARE GOING TO DELAY THE BONDS THAT WERE SCHEDULED TO BE LAUNCHED BEFORE END OF 2016 …TO EARLY 2017 BECAUSE US CONGRESS FAILING TO APPROVE…THAT WILL BECOME ANOTHER AMENDMENT TO 2016 BUDGET LAW THAT WILL HAVE TO BE ADDRESSED… THE LOAN AFFECTS BUDGET EXECUTION…NOT CURRENCY REFORM…BOND DELAY AFFECTS THERE ABILITY TO EXECUTE THE BUDGET AND ADDRESS THE DEFICIT THRESHOLDS SET BY THE IMF…
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Deputy calls for Abadi in activating the memorandum of understanding on retrieving looted funds
The Deputy called the National Alliance, Zaher Abadi, Sunday, Prime Minister Haider Abadi expedite operationalization of the memorandum of understanding with the United Nations development programme to recover looted funds in Iraq.
Ibadi said in a statement today, the Prime activating the memorandum of understanding with the United Nations development programme for the recovery of looted funds and involving international investigators in major corruption files to access facts and exposing the names of spoilers involved in waste of public money in previous epochs of political governance in Iraq after 2003. “…
Read More: www.DinarUpdates.com/blog
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Frank26 (Dinar Guru) – [ I BELIEVE WE SAW ARTICLES THAT STATED IRAQ HAD NO MORE THAN 3 DAYS TO SHOW IT TO THE WORLD ONCE THEY ACTIVATED THE RATE.] Yes…Also … In country they can make an announcement and not post a rate …Up to 3 days.
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Frank26 (Dinar Guru) – Dr. Shabibi is no longer in Iraq…he’s not in Baghdad…he’s not in the Green Zone…he’s not in the CBI…Dr. Shabibi lives in Europe… and he is actually no longer with the CBI…and he’s not coming back…it is possible he might make a speech from somewhere else…but he does work with the IMF…but he’s not coming back…he’s finishing up his work.
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BGG (Dinar Guru) – Mosul HAS NOT been liberated... though it is likely a “foregone conclusion” – some time ago, astute analysts have been saying the politics would be harder than the actual “battle” itself… and it looks like they are getting very close to broad-based agreement on the subject.
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Iraq woes deepen amid charges of Maliki comeback plot
Iraqi Prime Minister Haider al-Abadi addresses the United Nations General Assembly in New York on September 22. Photo by Monika Graff/UPI | License Photo
LONDON — Nuri al-Maliki, Iraq’s former prime minister, has been accused of undermining his successor, Haider al-Abadi, after allegedly engineering the dismissal of a second senior government minister in the space of a month.
Hoshyar Zebari, who held the finance portfolio, was dismissed in a parliamentary no-confidence vote in September that he claims was both unconstitutional and politically motivated. Zebari, a Kurd, said he believed the vote was part of a hidden political agenda “carried out by the State of Law parliamentary bloc, headed by Nuri al-Maliki.”
He said in a statement that parliamentary Speaker Salim al-Jabouri had been complicit in what Zebari described as a “vindictive, short-sighted” decision that was clearly intended to narrow political agendas…
Read More: www.DinarUpdates.com/blog
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BGG (Dinar Guru) – Article: “The Peshmerga under the command of al-Abadi and increase the budget of the Kurdistan” it appears this recent visit in Baghdad by the Kurds (which hasn’t happened in a long time)… went VERY well…(almost as a “side note” it appears they are hammering out a new Oil deal… I would more expect it to be along the lines of the last, for expediencies sakes – “codified” in the next budget…) rather than a legit HCL… (which is fine)… it all works
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SteveI (Dinar Guru) – Article: “A government official: There is a shortage in the domestic market Dinars“ Quote: “the fiscal policy of the Iraqi government in general is facing a shortage of Iraqi dinars in the local market.” This problem is about to change in the very near future. Hang in there.
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rcookie (Dinar Guru) – [any news on parliament voting?] TUESDAY…JAAFARI QUESTIONING 9TH…ABADI’S MINISTERS INCLUDING FINANCE, DEFENSE AND INTERIOR NEXT WEEK…
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Yuan joins IMF’s elite reserve currency club in a milestone moment for China
The yuan becomes the fifth member of the prestigious SDR basket on Saturday, but more reforms are needed before it is a freely traded currency, say analysts
China’s yuan joins an elite group of reserve currencies created by the International Monetary Fund on Saturday in a move hailed as a milestone in the country’s rise to global financial prominence.
From tomorrow, the yuan, also known as the renminbi, will become the fifth member of the IMF’s prestigious Special Drawing Rights (SDR) basket of currencies, alongside the US dollar, euro, Japanese yen and British pound.
Analysts say it marks the beginning of a new era for the yuan, paving the way for its wider adoption in international trade and bolstering China’s status as a key player in the global financial system…
Article Link
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Frank26 (Dinar Guru) – I think the barrel of oil is going to go to somewhere around $120…for about three months and then come back down to $60….they would be out of trouble at the blink of an eye…this will fuel the budget…And with ISIS not controlling oil any longer anywhere in the ME…and with the auctions now being controlled by the UN police…the days of ISIS are numbered…ISIS cannot sell any oil on the black market anymore…is this a coincidence…that the price is now going up when they are no longer in control of any oil….well would it be a coincidence if the Iraqi dinar were to go up when they are no longer in control of what they stole. Iraq set its oil ceiling and will prop up oil prices for the international market…you know why…so they can be in line with OPEC. [post 2 of 2]
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Iraq:
Letter of Intent, Memorandum of Economic and Financial
Policies, and Technical Memorandum of Understanding
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Frank26 (Dinar Guru) – The price of oil was adjusted…and …amended into the budget and that helped tremendously…there was an adjustment of 90.22 trillion IQD…that is the $77 billion that was reduced…you should pay attention to these numbers that I am reading to you…you can go to the CBI website and look…they are expressing them in IQD’s…that is huge…that makes the IMF really happy… I also want to share with you is that OPEC has agreed to freeze their oil production…and just because they did that…it caused the barrel of oil to go up by $2.35…and it is going to continue and continue… [post 1 of 2….stay tuned]
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IRAQ
STAFF-MONITORED PROGRAM—PRESS RELEASE; AND
STAFF REPORT
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Rcookie: ” WOW WOW WOW WOW!!” ” Just saw the Parliament agenda for tomorrow (today – Thurs). 1st item on agenda… INSERT DRUM ROLL.!!!! 1st reading Financial Management Law.
BOULYAAAAAAAAY!!!!!!!!!!!!!!!
Right from the IMF letter of intent/ MEFP/TMU (see below)…
Iraq:
Letter of Intent, Memorandum of Economic and Financial
Policies, and Technical Memorandum of Understanding
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Frank26 (Dinar Guru) – …these UN groups…are watching the GOI bad guys…and the CBI bad guys…they are watching how things are being paid…they are really eyeballing every movement…every step…of the CBI auctions… because that is the main way that money has been stolen from Iraq… The word is that things are moving along fast…even the budget was reduced… that was a huge factor that was talked about over in DC/NYC…it was reduced by $77 billion. …in the next two or three weeks let’s see what happens to Abadi and the GOI and the CBI governorship and the new technocrats that will come in and what the UN report will be when they are done with what they are doing in Iraq….there is a lot of stuff that is going to come out in the next two weeks. [post 2 of 2]
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