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 | 1309.538 | 1308.883 |
| British pound | GBP | 1448.777 | 1448.053 |
| Canadian dollar | CAD | 892.817 | 892.370 |
| Swiss franc | CHF | 1196.962 | 1196.364 |
| Swedish krona | SEK | 135.653 | 135.585 |
| Norwegian krone | NOK | 144.869 | 144.796 |
| Danish krone | DKK | 175.985 | 175.897 |
| Japanese yen | JPY | 11.371 | 11.365 |
| Special Drawing Rights |
SDR | 1633.867 | 1633.050 |
Indicative rates – 10.14.2016
http://www.cbi.iq/
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Nobody made a greater mistake than he who did nothing because he could only do a little. – Edmund Burke
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*** Current News ***
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SteveI (Dinar Guru) – Article: “The central bank project to delete the zeros will be implemented in early 2017” Article quote: “The governor of the Iraqi Central Bank, on Thursday, said the project to delete the zeros will be implemented in early 2017, indicating that the bank began to develop the first steps of the project.” …this is a great article…and regardless of how they do it, they are going to do this in the very near future.
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Don’t MISS – “DU NEWS TIME” w/BGG & Co. – Sunday, October 16 – 7:30pm EST – In the CHAT ROOM!!
www.DinarUpdates.com – save as favorite
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rcookie (Dinar Guru) – INSERT NEW PUBLIC FINANCIAL MANAGEMENT LAW HERE. [THE PFM IS A BIGGIE.] YES IT IS…AND ON THE TABLE FOR READING AND VOTE UPON PARLIAMENTS RETURN…PFM HAS MORE TO DO WITH THE MICROMANAGEMENT OF DEVELOPMENT FUNDING PROJECTS AND ASSURING THE PAST ECONOMIC TAMPERING AND WASTE OF PUBLIC FUNDS OF ALLOCATED MONIES EARMARKED FOR THESE PROJECTS...IT’S AN END TO THE TOXIC SYSTEMIC FAILURES…THAT HAVE LEFT THE CITIZENS WANTING FOR ESSENTIAL SERVICES AND ECONOMIC DEVELOPMENT. THOSE ESSENTIAL SERVICES AND INFRASTRUCTURE IMPROVEMENTS WILL EMOTE STABILITY AND CONFIDENCE IN THE INT’L INVESTMENT COMMUNITY…IT WILL ALSO IMPROVE THEIR WB “EASE OF DOING BUSINESS SCORES AND RANKINGS”… [post 2 of 2]
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rcookie (Dinar Guru) – Article quote: “Finance Committee in the House of Representatives confirmed on Wednesday that the financial umbrella provided by the agreement with the International Monetary Fund and World Bank, which will contribute to the creation of “radical reform” of the Iraqi economy…” SO…HERE THE ANNOUNCEMENT OF INTERNATIONAL FINANCIAL UMBRELLA FROM WB & IMF TOTALING $18 BILLION (TOTAL 20 BILLION) THAT WILL CREATE “RADICAL ECONOMIC & FINANCIAL REFORM” IN IRAQ AND IMPLEMENTATION OF INFRASTRUCTURE PROJECTS… CREATE RADICAL ECONOMIC & FINANCIAL REFORM! BOULYAAAH! [reference rcookie post 10-13-2013] [post 1 of 2….stay tuned]
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Adam Montana (Dinar Guru) – […do your contacts have any idea if the DInar will ever RV?] …nobody knows if it will ever hit, much less exactly when. I’m not throwing my hand in yet! I’m very positive on the recent progress.
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IMF: Iraq is making good progress to complete the Stand-By Agreement
[Oan- Baghdad] – IMF mission announced in Baghdad that Alarachakq good progress towards the completion of the first review of the standby credit agreement .
A statement by the Central Bank of Iraq received by all of Iraq [where] a copy of it, all made Christian nut, head of the IMF mission to Iraq, saying the Iraqi authorities continued their discussions with the IMF experts in Washington , DC, during the period October October first 6-10 this on the first revision of the agreement to prepare the credit amounting duration of 36 months , which was approved by the IMF Executive Board on July 7, 2016 . ” he added coconut” Iraqi authorities have made good progress towards the completion of the first review of the agreement to prepare the credit . ” and that , ” Once you provide the additional information required and the implementation of the prior actions agreed , the Executive Board will consider the first review of the agreement to prepare the credit , which is likely to take place in November or December”…
More: http://dinarupdates.com/blog/
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Randy Koonce (Dinar Guru) – I know a bunch of you believe there will be a basket going but that is not right. There will be different ones going, but they all will be within a month or even two. And, we do not know which way they are going except that of Iraq… and there is a strong chance for the Iran Rial…I need everyone to breathe and do not get anxious and do not give up even if it keeps going…Iraq will have to do those things I listed above and cannot do any of them without an RV….We are close.. Every large bank will exchange… RELAX the RV is coming…Breathe… [post 2 of 2]
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Randy Koonce (Dinar Guru) – Iraq wants to RV, and they tell us this all the time in the paper...They will tell us they are opening the budget, but do not. They tell us they are going to start the Tariffs, but they don’t. They tell us that they are getting loans to do massive building, but for some reason there is still nothing going on…They keep telling us that they have approved the oil law… but they never enact it…And after this repeated pattern of information, they then sit quietly for a while and they start the whole process up again. OK. So, what is the one Key that is required to do all these things? The RV! Why? Because it takes money that is worth more than the paper it is printed on. So even tho you are disappointed it has not happened yet, there is one more common ‘key’ that is mixed in with this repeated process. And that is Obama… He has a reason for not doing it just yet, and he has kept Iraq and the world at bay with this RV…We have information that comes from good sources; it is the best we can do. [post 1 of 2….stay tuned]
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rcookie (Dinar Guru) – Article: “The IMF praised Wednesday progress made by Iraq in implementing economic reforms.” SO…HERE ONCE AGAIN FURTHER CONFIRMATION ON IMF SATISFACTION OF IRAQS ECONOMIC REFORM ACTIONS…WHICH WILL BE TRANSPARENTLY DISPLAYED FURTHER WHEN THE 2017 BUDGET LAW IS MADE PUBLIC OPENING THE WAY FOR THE HUGE SBA UMBRELLA…
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Parliament will hold its next Monday
{Baghdad: Euphrates News} House of Representatives held its regular meeting next Monday instead of Tuesday
According to a parliamentary source told {Euphrates News} ” The Presidency of the Council of Representatives decided to hold a regular session on Monday , 10/17 at eleven in the morning.”
The House of Representatives decision of Imad Youkhana, it had said earlier that the board of the Presidency of the Council of Representatives has decided to hold the parliament session on Tuesday next day on 10.18.2016.
The House of Representatives may raise its Monday of last week , without specifying the date of the next meeting. is over
Read More: http://www.dinarupdates.com/showthread.php?42431-Parliament-will-hold-its-next-Monday-10-14-2016
Thanks to Romello for posting this… I highlight this mainly because there is so much coming up regarding critical legislation – very good news.
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Aggiedad77 (Dinar Guru) – [Iraq is broke, and borrwing money from everyone..how could the Iraqi banks ever change to $3.71?] MY TAKE ON IRAQ AND THE NEED TO BORROW MONEY (USD?) IS THE REQUIREMENT TO STAY SOLVENT. ONCE THE RV TAKES PLAY THE VALUE OF IRAQI DINAR THEY HOLD IN THEIR VAULTS WILL MORE THAN COVER ANY LOANS. RIGHT NOW, IMO, IT IS ALL A SHELL GAME.
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Kaperoni (Dinar Guru) – Article: “Iraqi cleric Sadr calls for protest against Maliki’s comeback” Quote: “Powerful Shi’ite cleric Moqtada al-Sadr on Wednesday called for a demonstration against a Iraqi court ruling that returns his bitter rival, ex-prime minister Nuri al-Maliki, to a vice-presidential position.”
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Aggiedad77 (Dinar Guru) – I am having one of those “feelings”…we stand before that locked door…all of a sudden…we can hear clicks and clatters…bolts being thrown…then hinges creaking…the door frame bulges…it’s a fat lady for sure…but what happens is hopefully historic….Praying that what flows through is just so totally full of MR…hot…red hot lava flow of the MR…Monetary Reform that is...not the beginning thing either…but rather instead the whole enchilada…
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Iraqi Dinar/Dollar auction 10-13-16
Currency Auctions Announcement No. 3296
This daily currency auction was held in the Central Bank of Iraq on the 10-13-2016
The results were as follows:
| DETAILS | NOTES |
| Number of banks | 30 |
| Number of remittance companies | 14 |
| Auction price selling dinar / US$ | 1182 |
| Auction price buying dinar / US$ | —– |
| Amount sold at auction price (US$) | 141,865,045 |
| Amount purchased at Auction price (US$) | —– |
| Total offers for buying (US$) | 141,865,045 |
| Total offers for selling (US$) | —– |
More: http://dinarupdates.com/blog/
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Frank26 (Dinar Guru) – I …We …Will be in RED dress tonight …(For red Hot?).
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Adam Montana (Dinar Guru) – …to dispel a little rumor that was running about the Dinar Airwaves over the week… according to my most reliable sources, Maliki is not going to be returned as VP or any other significant role. I’m sure this isn’t the last we will hear from Maliki, because he has nothing to lose by continuing to file motions, appeals, requests, etc… but I really don’t think we need to worry about him for the present time, or the near future.
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Kaperoni (Dinar Guru) – Articles: “Economic calls to cancel the auction currency and an end to the phenomenon of «money Moadh«” “Why collapsed the Iraqi dinar .. Economists call for the central bank to answer” The way I read all these cries, they are pushing for the CBI to move monetary policy forward...Like we have discussed for so long…the CBI needs to exit the peg and float the dinar. Unfortunately, as much as I agree, the government’s inability to lay the groundwork (pass laws) is holding all these reforms up.
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Dinar Updates – “The Big Question!!”
from Tues – Oct 11th
w/RCookie, Mr White & Hutch
Smart phone user link – Click here
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SteveI (Dinar Guru) – [CBI Site Down?…Today, 11:16 AM] It could be a number of things. Please do not read anything into this.
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Adam Montana (Dinar Guru) – 4. But, to get to my reason for reigning in *some* of my optimism for this month… we still don’t have an HCL or much news about it’s implementation. It’s great that Oil is going the right direction. It’s awesome to have the IMF praising them, it’s fantastic that they are making timely progress on the 2017 budget, but… without that HCL, I have to go back to “cautiously optimistic” at this time. On a more positive note, it’s widely believed that the HCL is pretty much done and it’s only a phone call away from being published in the Gazette and made official. That could certainly happen any day, even today or tomorrow! But until it’s done, or we hear more about it, we remain patient. [post 3 of 3]
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Adam Montana (Dinar Guru) – 2. On the topic of oil prices, Iraq is very much involved in the recent OPEC movement to control production and get the prices moving back up. As of Monday, oil hit $53… The head of BP says he is expecting $55-70 coming soon. This stuff isn’t written in stone, but it’s certainly a good indication of the efforts being taken, and Iraq will certainly gain confidence as a result. 3.Also cheering for Iraq and basically giving them a big ol’ green light is the IMF. It’s important to understand that the IMF can’t force them to RV, or stop them from doing it either, but when they have the IMF on their side, it’s a great thing! [post 2 of 3….stay tuned]
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https://www.facebook.com/groups/571383766355188/
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Adam Montana (Dinar Guru) – Around the end of August I had mentioned my slight optimism for September and greater enthusiasm for October. With October almost halfway over, I’m forced to reign in some of my enthusiasm… but not all. Here’s my latest thoughts: 1. I believe I was mistaken recently when I mentioned the budget was set based on an anticipated $60 ppb… according to this report, it was actually set at $45, which is probably only slightly off from the year-to-date average! You all know I don’t place a lot of importance on the “Budget”, as they release it to the public, but for them to continue showing this kind of control over their assets and finances is a GREAT thing for the world to be able to place confidence in a big increase in the value of the Iraqi Dinar. This year’s budget was completed and published right about the 1st of the year, which was a huge improvement over the previous decade. As of right now, they look to be on pace to do it again, or maybe even earlier! Again, this is exactly what they need to be doing in order to do an RV and most importantly, support the higher rate. They are doing great at this! [post 1 of 3….stay tuned]
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Frank26 (Dinar Guru) – So right now the CBI with Allak and Abadi…IMF, UST… they know what they are doing with the Monetary Reform and the control of the exchange rate of the Iraqi dinar…and do you remember what they have already said…that I want a gradual increase…IMO all of the recommendations from the IMF to the CBI are being accomplished …so we look for the next step to come from the CBI…and by the way…Allak even came out and said…in the reports that we have…in Arabic…he said yeah we know to do this before November…raise the value of your currency …before November…ever since that meeting…in Amman, Jordan…with the CBI and the IMF…the CBI told the IMF…we’ve done all the regulations…we are done…and we will implement before November… [post 3 of 3]
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Frank26 (Dinar Guru) – ...the CBI and Allak have said that clearly they want to increase the rate gradually…we…feel that they are doing that…without telling anybody…the market street rate actually dropped over the week…it was at 1309 and it is at 1295 right now...the market rate dropped for the 2% compliance that the IMF wants…they are constantly doing something with the value of their currency…IMO. I am of the school of thought that they will come out 1 to 1 in the country… Allak and the CBI and the IMF have a plan and they are following it…they are following it step by step. Mosul is the big lady that sits in front of us…when they finally do liberate Mosul you are going to see the Monetary Reform right in front of your eyes IMO. [post 2 of 3….stay tuned]
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Iraqi Dinar/Dollar auction (most recent listing – CBI.iq was down) 10-11-16
Currency Auctions Announcement No. 3295
This daily currency auction was held in the Central Bank of Iraq on the 10-11-2016
The results were as follows:
| DETAILS | NOTES |
| Number of banks | 31 |
| Number of remittance companies | 14 |
| Auction price selling dinar / US$ | 1182 |
| Auction price buying dinar / US$ | —– |
| Amount sold at auction price (US$) | 152,653,486 |
| Amount purchased at Auction price (US$) | —– |
| Total offers for buying (US$) | 152,653,486 |
| Total offers for selling (US$) | —– |
More: http://dinarupdates.com/blog/
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Frank26 (Dinar Guru) – …there was…an important meeting on the 7th, the 8th, and the 9th…and we told you it was with the IMF and the US and we told you within that meeting there would be a lot of…reviewing of what they have done with the Monetary Reform. …this came out in a documentation where the IMF said…we are working with the CBI…we are working with Iraq…but I am here to tell you…we are not going to put it in any report…anything that we consider sensitive information…we are not going to announce it to anybody…the things they are doing with the Monetary Reform…they may not be privy to us right now. [post 1 of 3….stay tuned]
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Kaperoni (Dinar Guru) – Article: “Ex-PM Maliki making comeback as Iraq’s most powerful man” I think much of this is propaganda since Maliki has been the most powerful man all along. If he gets the VP position back it changes nothing since the position has no effective decision making power and is ceremonial in nature.
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Kaperoni (Dinar Guru) – Article: “Why you must stop the currency auction?” They cannot end the auctions until the economy, and banking system are ready for the transition. Leaving a monetary policy that is closed is difficult, especially with so many corrupt Iraqi’s trying hard to stop it. But if Iraq ever wants to diversify, and invite global investment, they need to work towards Article VIII and the float…and the sooner the better.
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Parliamentary Finance: Central Bank demands a comprehensive and immediate review of the mechanics of hard currency sale and adjust the rate of the dinar to maintain its value
Orbit News – Finance Committee confirmed on Saturday that the decline in the dinar exchange rate against the dollar caused the central bank to adopt some private banks and not others in an auction and sell the currency weakness in monitoring the performance of those banks
Parliamentary Finance Committee has demanded in a statement ‘orbit News’ received a copy of it; the Central Bank of the need to adjust the trading currency auction and evaluate the performance of private banks, noting that the data and the official statistics confirming banks to provide some civil purchase invoices are not real in the auction currency.
Revealed statement; the determination of the parliamentary finance committee for the formation of a fact – finding committee to find out the reasons for the high price of the dollar in the markets, and monitor the performance of the central bank auction of currency and checking the seriousness of their actions , which marred a question in large signs, and put an end to the mafias market control and some currency traders at the exchange Aldenarabraghi.
Read More: http://www.dinarupdates.com/showthread.php?42313-CBI-demands-
Thanks to RCookie for posting this…
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rcookie (Dinar Guru) – Article: “Federal Court: Reply decision to abolish the positions of president of the republic does not mean their return” IT IS NOT A DOOM AND GLOOM DEVELOPMENT…IT MEANS THAT THE PREVIOUS RULINGS AND APPEAL DECISION CONCERNING ABADIS ELIMINATION OF 3 VPP’S WAS OVERTURNED BY FEDERAL COURT TODAY…BUT DOES NOT NECESSARILY MEAN A RETURN OF NAJAAFI…ALLAWI OR MALIKI… DOES ANYONE THINK THE US OR THE REST OF THE WORLD IS GOING TO ALLOW FOR ABADIS REGIME…REFORMS AND PROGRESS TO FAIL…JUST READ THE DAILY STATEMENTS OF UNWAVERING GLOBAL SUPPORT…AND MORE IMPORTANTLY US POLITICAL AND MILITARY SUPPORT….FOR ABADI…IRAQ REFORMS AND PROGRESS…
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rcookie (Dinar Guru) – THEY ARE THE 3 ORIGINAL VP’S…FORMER HOUSE SPEAKER NAJAFI..AND 2 FORMER PRIME MINISTERS ALLAWI & MALIKI… THEY HAVE STATED IN ARTICLE…THEY ARE NOT REINSTATING ALL THREE VP’S…BUT RATHER…ONE…AS PER CONSTITUTION…THE OVERWHELMING GROUNDSWELL OF NEWS REPORT UNWAVERING SUPPORT FROM US…POLITICALLY AND MILITARILY TO ASSURE ABADI REGIME AND REFORM SUCCESS…THE US WILL NOT ALLOW FOR ANYTHING TO UNDERMINE ABADI AND IRAQS GLOBALLY ACKNOWLEDGED SUCCESSES AND PROGRESS… [post 2 of 2]
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BGG (Dinar Guru) – [I just read the article today about the Supreme Court and Maliki…] […malilki is coming back?] Let’s not be alarmist…whatever happens – the UN/IMF won’t sit still for this JACKASSERY … exactly what they have been advising against all along. Maliki may think he’s won something – he’s just brought on the BIG DOGS…
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Iraqi Dinar/Dollar auction (most recent listing) 10-10-16
Currency Auctions Announcement No. 3294
This daily currency auction was held in the Central Bank of Iraq on the 10-10-2016
The results were as follows:
| DETAILS | NOTES |
| Number of banks | 29 |
| Number of remittance companies | 12 |
| Auction price selling dinar / US$ | 1182 |
| Auction price buying dinar / US$ | —– |
| Amount sold at auction price (US$) | 149,509,399 |
| Amount purchased at Auction price (US$) | —– |
| Total offers for buying (US$) | 149,509,399 |
| Total offers for selling (US$) | —– |
More: http://dinarupdates.com/blog/
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Kaperoni (Dinar Guru) – Article quote: “In Iraq, ‘all the pieces’ are now in place to take Mosul back from the Islamic State…”
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Frank26 (Dinar Guru) – ARTICLE: “The catastrophic corruption between banks and companies in the sale of the American Dollar is coming to an end.” NINE EXAMPLES that CORRUPTION in IRAQ is being killed:
#1 — The policing of the United Nation groups, new laws, new banking systems being implemented.
#2 — The currency auctions are being monitored. That was the hole in the bottom of the ship.
#3 – No more false names / dead people / false companies, etc.
#4 – The USD needs to stop being used (MCP) – which has been used at the borders
#5 – No more false bills / PO’s.
#6 – No false accounts…
#7 – No more diffusion of payments to false areas (building fake parks, etc).
#8 – The antiquated banking systems had to stop
#9 – No more false passports to transport IQD out of country. [post 1 of 2….stay tuned]
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Islandg1211 (Dinar Guru) – Abadi said that the oil and gas agreement is going to take a few meetings to get everything worked out. Today’s announcement is the result of one aspect of the meeting getting worked out to everyone’s advantage. Was the RV ever going to happen without a fair system in place that the oil companies could trust? No. Two very important oil agreements have been made between Baghdad and Erbil. First was the agreement to split the disputed oil field. Then an undisclosed presumed agreement for post-ISIS Mosul. Now an independent auditor for the Kurds’ oil. This is looking very, very good for a completed oil agreement with the Kurds. [post 2 of 2]
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Iraqi Dinar/Dollar auction (most recent listing) 10-09-16
Currency Auctions Announcement No. 3293
This daily currency auction was held in the Central Bank of Iraq on the 10-09-2016
The results were as follows:
| DETAILS | NOTES |
| Number of banks | 31 |
| Number of remittance companies | 14 |
| Auction price selling dinar / US$ | 1182 |
| Auction price buying dinar / US$ | —– |
| Amount sold at auction price (US$) | 139,101,193 |
| Amount purchased at Auction price (US$) | —– |
| Total offers for buying (US$) | 139,101,193 |
| Total offers for selling (US$) | —– |
More: http://dinarupdates.com/blog/
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Islandg1211 (Dinar Guru) – I wanted to highlight today’s news that Kurdistan has hired DeLoitte to be their oversight of their oil production. This comes after Barzani and Abadi’s meetings, and directly is related to an Oil and Gas law agreement. Baghdad has to have faith in the Kurd’s oil accounting. No more under reporting oil production. No more illegal sale of oil by the Kurds. Corruption has to stop. The citizen’s share of oil has to be fairly and correctly accounted for. Bringing in Deloitte is Huge! [post 1 of 2….stay tuned]
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Adam Montana (Dinar Guru) – [Everyone seems to be waiting for Iraqi to RV. With China now having SDR’s, the international emphasis seems to be on Asia. What are the odds that Vietnam or some other Asian country would RV first? ] China is indeed something to watch, I’ve been paying attention to how that might affect things. So far… nothing big. And I don’t particularly think we have to worry about any other country doing something with their currency first – Iraq is very unique in it’s situation and ability to maintain a stronger rate based on their physical assets, including geographical location and natural resources.
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Frank26 (Dinar Guru) – ARTICLE: “Iraq has enormous economic potential” …the corruption that has choked off the monetary reforms is…being eradicated. …the US Treasury put their hands in CBI auctions. They are watching every penny. No more fictitious transfer garbage! No more paying false/dead people. No more bad trades with street vendors. That should make you and I very happy. The stolen money will now be returned. A lot of money have been stolen …and IMO…THEY WON’T GET MORE LOANS until they lift the value of their currency.
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Adam Montana (Dinar Guru) – And now let me top this all off with a little bit of sweetness… Article quote: “…Office of the Prime Minister said, that the issue of the Kurdistan Region’s share in the budget for fiscal 2017 will be resolved in the coming days.” To me, that says…BOOOOOOM! We are 3 months from the end of the year. As I mentioned earlier, they probably felt a bit of a setback from the price of oil, which didn’t stabilize where they planned on it settling. Yet they are now talking about the next budget, with concrete(ish) deadlines for specific (and important) milestones. We are already seeing signs that the full Cabinet will be listed and possibly in place – you can bet that they are MUCH further “behind closed doors” than they are letting on – but we are seeing that this progress could happen as soon as this weekend, around 8th of October…we shall see. I’m hearing good things from my people… [post 3 of 3]
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Adam Montana (Dinar Guru) – Abadi’s New Government… This could also have a major impact on the progress (or lack of) we saw over the summer, and even last month. …Abadi did a HUGE staff change…but…some of the people he wanted to throw out or move to the side have dug their heels in pretty good, and this is yet another prime reason I think we saw things slow to a crawl over the past few months.Good news: In Tomorrow or Saturday’s session, Abadi is scheduled to give the final list of the new crew…this is a GREAT step for us. The government of Iraq, under Abadi’s new leadership, has proven to be immensely more stable than any time during the previous decade. Stability of the Iraqi Dinar…as reported by multiple sources…the trading price on the Dinar has maintained stability against the USD to within a couple percentage points. In fact, one could argue that it’s perhaps one of the strongest currencies in any market…The IQD has come an incredible and extraordinary distance in the face of many challenges. We don’t think they are done surprising people. [post 2 of 3….stay tuned]
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Adam Montana (Dinar Guru) – I had not hoped for much during September, but there is still a distinct glimmer of hope that we will see some action this month. Does that mean “RV”? Nobody can make that promise, but let’s talk about what we know…as we enter October: Over the summer…we saw a very disappointing DIP in the PPB (Price Per Barrel) around August. Bad news: The PPB is not at the $65 mark that Iraq set it’s budget at… Good news: Oil has came a long ways in the right direction for them, from ~$35 to the current ~$50. …an increase in the price of oil – or even a reasonable expectation of that – is good incentive for “The Iraqi Powers That Be” to flip the lid off the button and get ready to push it! [post 1 of 3….stay tuned]
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Iraqi Dinar/Dollar auction (most recent listing) 10-06-16
Currency Auctions Announcement No. 3292
This daily currency auction was held in the Central Bank of Iraq on the 10-06-2016
The results were as follows:
| DETAILS | NOTES |
| Number of banks | 29 |
| Number of remittance companies | 14 |
| Auction price selling dinar / US$ | 1182 |
| Auction price buying dinar / US$ | —– |
| Amount sold at auction price (US$) | 135,754,750 |
| Amount purchased at Auction price (US$) | —– |
| Total offers for buying (US$) | 135,754,750 |
| Total offers for selling (US$) | —– |
More: http://dinarupdates.com/blog/
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Frank26 (Dinar Guru) – Is China bringing the strength that the IQD needs…or is the IQD bringing the strength to a basket that is filled with other currencies that the Chinese Yuan has just joined? IMO – I believe that the IQD will not be put into the basket, it will be used to support the basket. That is how powerful the IQD is.
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Jester (Dinar Guru) – Today, the International Monetary Fund (IMF) announced the launch of the new Special Drawing Right (SDR) valuation basket including the Chinese renminbi (RMB), and the new currency amounts that will determine the value of the SDR during the new valuation period. THE NEW SDR IS HERE!
BGG ~ That was already done – a few days ago!! (not that it matters)…
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Frank26 (Dinar Guru) – The ACCOUNTABILITY & JUSTICE LAW, and the NATIONAL RECONCILATION DAY…has EVERYTHING to do with the monetary reform of the IQD! The IMF gave them BEFORE NOVEMBER…if they wanted the LOANS…and now the BONDS. We are NOT deviating from that! US Congress will NOT back them up until they raise the value of their currency…Iraq is following the IMF – regardless of how long it takes. In my opinion, the GOI has less than 18 things they must accomplish. The CBI only has one thing to do…raise the value of their currency. Inside…in my opinion…it will be 1 to 1 with the USD…but that is a neutral event INSIDE OF IRAQ…in my opinion, the lower denoms are in position, waiting for the value to give them life. [post 2 of 2]
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Keywords: $ 50 billion in the country’s reserves of hard currency
BAGHDAD / Tariq al – Araji
The following is the text of the interview:
Assured success in curbing inflation and keeping the economic situation of the country
The governor of the Iraqi Central Bank on the Keywords that the reserve is currently in the bank is estimated at $ 50 billion, adding that the IMF forecast was referring to a previous review, to drop up to ten billion dollars at this time of year. And articulated in an interview with the «morning», the central bank ‘s success during the last term, to control the price of the dollar and curb inflation and maintain economic situation in spite of the financial situation is difficult the country has experienced during the last term.
The Central Bank transactions
* Do deals CBI with people or companies as well as banks accredited?…
Read More: www.DinarUpdates.com/blog
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Frank26 (Dinar Guru) – Iraq went through a National Reconciliation Day…THAT WAS HUGE!!! Do you know what that is? That’s like our 4th of July – on that day, they told the citizens that they have plans… Abadi received the full plan for the liberation of Mosul…Mosul is eminent… National Reconciliation Day stands for unity, and on that day there was a lot of agreement within the GOI and what they said to the citizens. That they put up a front that IRAQ IS UNIFIED. The accountability and justice law is secondary to the amnesty laws. You are about to see them, and they are important because it brings Iraq together. I believe that tomorrow, Abadi’s speech will talk about that. [post 1 of 2….stay tuned]
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rcookie (Dinar Guru) – ABADI ANNOUNCED AWAY FROM CHAIRING COM REGULAR MEETING THE REDUCTION OF DEFICIT IN 2017 BUDGET AFTER AMENDING TO BE $15 TRILLION IQD FROM 32 TRILLION IQD…AND DELIVERS 1ST “EDIT MOSUL” RADIO ADDRESSMENT TO MOSUL CITIZENRY ANNOUNCING IRAQI FLAGS WILL BE FLYING OVER YOUR CITY SOON JUST AS PREVIOUS AREAS…ABADI ANNOUNCES THE PROBLEMS BETWEEN BAGHDAD & ERBIL WILL NOT ALL BE RESOLVED IN 1 OR 2 MEETINGS.
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Backdoc (Dinar Guru) – Article: “Masum ratifies border crossings Commission Law” Quote: “The law ensures the smooth flow of work and the achievement of the entry of people and goods and to raise the level of service and border crossing points show the proper manner as interface Iraq,” stressing that “the law sent for publication in the Official Gazette.” AS I REMINDED YOU ALL RECENTLY THE LETTER OF INTENT REQUIRED THEM TO DO THIS NOW! CLEARLY THEY ARE FOLLOWING THE PLAYBOOK!
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Parliament will hold its meeting tomorrow in the presence of al-Jaafari
[Oan- Baghdad] – Hold the House, its regular, on Thursday, in the presence of Foreign Minister Ibrahim al-Jaafari.
And it includes the agenda of the meeting, according to the information department of the parliament “vote on the draft support doctors law, voting in principle to the draft second amendment to the law the abolition of the legal provisions that prohibit courts from hearing lawsuits No. 17 of 2005, the first reading of a proposal to protect the diversity and prevent discrimination law.”
It also includes directing “an oral question to the Foreign Minister of MP Hanan al, and report and discuss the draft law of the government banks, and report and discuss the Iraqi National Paralympic Committee Act.”…
Read More: www.DinarUpdates.com/blog
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Backdoc (Dinar Guru) – Article: “Masum ratifies border crossings Commission Law” Quote: “The law ensures the smooth flow of work and the achievement of the entry of people and goods and to raise the level of service and border crossing points show the proper manner as interface Iraq,” stressing that “the law sent for publication in the Official Gazette.” AS I REMINDED YOU ALL RECENTLY THE LETTER OF INTENT REQUIRED THEM TO DO THIS NOW! CLEARLY THEY ARE FOLLOWING THE PLAYBOOK!
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Frank26 (Dinar Guru) – BONDS…in my opinion, it does appear that the USA will not back up the BONDS that the GOI wants to sell. Remember, back in December, the IMF told the GOI that they were going to help them – if they raised the value of their currency. Well, here we are…upon the prepuces of the monetary reform…and Abadi saying they have done everything…well…IF… you have done everything…they get LOANS don’t they? I have not seen the CBI website show me a new rate for the IQD. They have not changed it officially. DO THEY WANT THE LOANS…the 640 Million Dollar Loan. They will get that WHEN they raise the value of their currency…and if they don’t…they won’t get the BONDS. This is not bad news. This is fantastic news!
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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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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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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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