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 | 1264.976 | 1264.344 |
| British pound | GBP | 1468.871 | 1468.137 |
| Canadian dollar | CAD | 881.038 | 880.597 |
| Swiss franc | CHF | —– | —– |
| Swedish krona | SEK | 128.739 | 128.674 |
| Norwegian krone | NOK | 139.438 | 139.368 |
| Danish krone | DKK | 169.974 | 169.889 |
| Japanese yen | JPY | 10.844 | 10.839 |
| Special Drawing Rights |
SDR | 1606.527 | 1605.724 |
Indicative rates – 11.18.2016
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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BGG (Dinar Guru) – “The first part of 2017” starts in just 47days (if they bother to wait that long)… to get started…which they have signaled as some version of their “starting point” for the project…my point was – and is…we have PLENTY to be excited about – no matter what “THE DATE”…it’s just weird they are this open – direct – and “forward looking” in their comments. Even giving something of a “heads – up” as to when…
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Adam Montana (Dinar Guru) – [I have been thinking that when it comes to the RV, the current government in Iraq isn’t any better than the last one.] I disagree that this government is no better than the last – it is MUCH better! Don’t let the current lack of immediate RV discourage you, we are on the right track!
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rcookie (Dinar Guru) – …AUCTION POLICY CHANGES AND IMPLEMENTATION OF NATIONAL DEPOSIT INSURANCE SCHEME…AND SECURITIES ISSUES ARE WHAT WILL BE ADDRESSED IN CBI LAW NO 94…WHEN IT GETS TO PARLIAMENT….WHICH IS WHY IN ADDITION TO INVESTMENT LAW…CHAMBER OF COMMERCE LAW ETC…HAVE BEEN ELEVATED TO FRONT OF THE LINE PRIORITY WISE…AND HERE IT IS…THIS IS A QUOTE FROM THE ALAK ARTICLE YESTERDAY CONCERNING AUCTIONS…..”The member of the Committee of Economy and Parliamentary investment, Nora Albjara confirmed in an interview Said to (long-Presse), that the rise in price of the dollar crisis will be resolved only after amending the Central Bank of Iraq Law No. 94 of 2004 in harmony with the current stage, usually the law is a big part of the market crisis, especially with the rise of the dollar against the dinar, as well as financial liquidity.”
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Breitling (Dinar Guru) – A LOP…they just take the zeros off the currency…What’s the indicator that they are not going to do that? They start reducing the note count. If they are going to “pretend” there are no zeros on the currency then they don’t need to reduce the note count. It’s a massive undertaking to reduce the note count…The CBI said the old currency is going to gain value cause they are going to reduce the note count. Eventually the value is going to be so high they are going to have to replace the currency you and I have with a new note that makes up the balance…and give us the opportunity to exchange…So there is no reason to reduce the note count if they are going to LOP.
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wmawhite (Dinar Guru) – The most exciting part of this is that the most important entity, the CBI, is telling the citizens of Iraq along with any other knuckle heads that will listen that a change is coming and is coming soon. I was excited…and then RCookie found… Article: “Iraq Stock Exchange Convention on the electronic trading system online trading investors remotely with Manaf Software Company” ….and one article stated that the issuance of the 50, 100 and 200 IQD notes in early 2017…”will be the effect of the delete the zero project”. …meaning…something has occurred prior to the issuance of the notes. Did I by any chance tell you that I am excited?
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Parliamentary Economy: project to delete the zeros from the currency has become impossible due to corruption
BAGHDAD / Baghdadi Uz..okdt Parliamentary Commission of Economy, on Thursday, said the project to delete the zeros from the currency has become impossible due to corruption, calling not to launch major new categories of currency.
The committee member said Abdul Salam al-Maliki, in an interview with / Baghdadi News / “The project to delete the zeros from the currency Ihtah to proper planning as the current conditions and the control of the powerful and corrupt financial matters prevented from approving this project,” noting that “a lot of powerful and corrupt may take advantage of this project acknowledged that, for whitening and laundered the stolen money. ”
He added that “the state has resorted to issuing new classes in a large currency, and this has led to damage to the Iraqi economy through the currency value loss, and in case the insistence of the state to issue new classes as planned, the Iraqi economy could collapse,” calling to “not to issue no new class before the study results “.anthy 21 / d
albaghdadianews.com
BGG ~ Am I the only one thinking this is odd?? Maybe “thou dost protesteth too much”??
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rcookie (Dinar Guru) – THEY DID NOT JUST START REDUCING THE NOTE COUNT…IT HAS BEEN ONGOING FOR YEARS…THIS IS WHY THEY CURRENTLY HAVE A DIRE LIQUIDITY CRISIS…THE REDUCTION OF THE NOTE COUNT IS ONE OF THE PHASES OF THE DELETE THE ZEROES PROGRAM…JUST LIKE THE MINTING OF THE NEW 3 ZERO NOTES WITH SECURITY FEATURES WE ALL HOLD…AS WELL AS THE NEW LD’S…ALL MINTED IN 2013…ALL MINTED TO WELL STRATEGIZED QUANTITIES AND RELEASE DATES…AND THE 3 ZERO NOTES WHILE STILL BEING ACKNOWLEDGED AS LEGAL TENDER FOR 10 YEARS…CAN NOT POSSIBLY COEXIST FUNCTIONALLY IN THE MARKETPLACE AT “POINT OF SALE”…AFTER THE INT’L PRICING EQUATION IS APPLIED…AND PRICES ADJUSTED…CITIZENS PURCHASING POWER ELEVATED AND REALIZED…
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wmawhite (Dinar Guru) – [Local banks will…exchange the foreign currency with the countries treasuries and at that point it becomes an institutional note used in foreign trade.] Remember, not all “local banks” exchange foreign currencies…Again, not all banks in your community will exchange foreign currency.
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Adam Montana (Dinar Guru) – [If/when the Dinar RVs can Trump have any influence on how this income is taxed and if so, would you think it would be to our benefit?] This is an extremely interesting question, especially if you remember when this speculation first started it was rumored that Donald Trump had made a large Dinar purchase. I’m not going to feed that rumor, so I’ll stay on topic – Iraq is moving at it’s own pace, despite who was or wasn’t elected. I do believe that our election will have made an influence on their speed, but I don’t think Donald Trump himself will have any influence on their timing.
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Dinar Updates “Private FaceBook Group”
Dinar Updates:
wmawhite The most exciting part of this is that the most important entity, the CBI, is telling the citizens of Iraq along with any other knuckle heads that will listen that a change is coming and is coming soon.
I was excited…and then RCookie found… Article: “Iraq Stock Exchange Convention on the electronic trading system online trading investors remotely with Manaf Software Company”
And one article stated that the issuance of the 50, 100 and 200 IQD notes in early 2017…”will be the effect of the delete the zero project”.
Meaning…something has occurred prior to the issuance of the notes. Did I by any chance tell you that I am excited?
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wmawhite (Dinar Guru) – Within all of those recent articles the CBI has also told us what one of the next steps is…the reduction of USD into the market place…The CBI is at a very critical point in this project, which is called “The Delete The Zero Project”. This project is not ONLY the large notes, but numerous other administrative and procedural steps. There may be a dozen “action” items within this project and after the implementation of those items there will be an intended result…an increase in the purchasing power of the IQD (to the citizen) which will be caused by an increase in value if the IQD OUTSIDE of Iraq. [post 2 of 2]
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wmawhite (Dinar Guru) – Article: “Iraq Stock Exchange formally signed the Convention on the electronic trading system via the Internet trading after investors with Manaf software company on Monday, November 14 2016.” Quote: “It is hoped the project officially launched during the first quarter of 2017 after completion of the binding mechanisms with the Iraq Stock Exchange systems and build the required access sites.” WOW…more confirmation of major changes coming soon…please do not focus on one particular date… Folks…do…you see the relationship between what the CBI is doing and what the ISX is preparing for? [post 1 of 2….stay tuned]
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Daz (Dinar Guru) – I dont think we will see 3+ in iraq…we’re looking for something in the 1:1 range in-country. when that happens…we’re golden…the goal: in Iraq a dinar is a dinar (1:1)…in the USA, a dinar is $3.71 “dollars” when the multiplying factor is applied…in other countries…the “factoring” number is different respective to each countries economy and trade .86- 1.14 is the range i think….essentially a 1:1 allowing for trade and market fluctuations… thats .86 dinar to dinar…up to 1.14 dinar per dinar in country…anywhere in that range and we are golden…that would mean a full reinstatement and possible revaluation on an international scale.
BGG ~ This is pure jibberish… someone listening to our calls and adding stuff to it…
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The Central Bank is required to mediate letter of guarantee 100% of their capital firms
BAGHDAD / Baghdadi News / … revealed a document issued by the Central Bank of Iraq, on Thursday, for a resolution that includes an increase for letters of guarantee banking companies to allow them to enter sell the currency window, and noted that the decision included raising the letter of guarantee for banks to 100%, while the It confirmed that the bank’s board is considering a proposal to reduce those percentages after the claims of the companies need to be reduced…
More: http://dinarupdates.com/blog/
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Kaperoni (Dinar Guru) – Article: “Reasons to delete three zeros from the Iraqi dinar and what it means to delete the zeros from currency” Quote: “Start procedures to delete three zeros from the currency in 2017” The good news is it looks like we will see something happening in just a month or so.
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firefly (Dinar Guru) – So, am I excited that the CBI told us the lifting the 3 zeros from the marketplace will begin in early 2017? You better believe I am…
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BGG (Dinar Guru) – …we can hang on for 47 days…but it may not even go THAT LONG.
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Dinar Updates – “The After Call!!”
from Tues nite – Nov 15th
w/RCookie, Mr White & Hutch
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Smart phone user link – Click here
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Kaperoni (Dinar Guru) – It has been some 13 years and Iraq still has not created with much success a private sector/market economy. So the Dinar waits. Iraq remains today about 93% dependent on oil production. 2017 seems to be the year Iraq plans to launch such a market economy. Time will tell. In order to do so, Iraq must create the conditions. Some of which are laws for investors, stability, and a sound banking system. Once it’s internationally recognized, convertible and traded, the dinar will rise based on supply & demand. Some may sell at 1 cent…Others may wait until 10 cents, and still others may wait until it is much higher. The Dinar will become eventually just like any other currency, bought and sold throughout the global banking system. [post 2 of 2]
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firefly (Dinar Guru) – …what the lifting of the 3 zero notes means…All they are doing is removing them from the market place…hence “the lifting of the 3 zeros”…so if the removing them from the marketplace begins in early 2017…Logic would tell us they would need to have a value for the lower denoms to hit the streets right… BEFORE they are removed… The CBI told you they will coincide with the lowered denoms for 10 yrs.
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BGG (Dinar Guru) – Adding value is a part of the “note removal” process…without value – why would anyone want to carry a smaller denomination (No zero notes)? I am skeptical about 1st Q 2017 – them telling everyone doesn’t make a lot of sense – unless they do it earlier than that...AND they’ve already said it will BEGIN in early 2017. That’s only 47 days away…
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Iraqi Dinar/Dollar auction 11-17-16 (most recent listing)
Currency Auctions Announcement No. 3321
This daily currency auction was held in the Central Bank of Iraq on the 11-17-2016
The results were as follows:
| DETAILS | NOTES |
| Number of banks | 33 |
| Number of remittance companies | 15 |
| Auction price selling dinar / US$ | 1182 |
| Auction price buying dinar / US$ | —– |
| Amount sold at auction price (US$) | 150,085,261 |
| Amount purchased at Auction price (US$) | —– |
| Total offers for buying (US$) | 150,085,261 |
| Total offers for selling (US$) | —– |
More: http://dinarupdates.com/blog/
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Kaperoni (Dinar Guru) – Interesting fact, the dinar has already appreciated from its original value released in 2003. According to reports, back in October 2003 the Dinar exchange rate was well over 1600 to $1. In pretty short order it appreciated (4-6 months) down to 1170 to $1. This first phase of appreciation was to counter the effects of inflation in Iraq that was well over 38% as oil production began post war. I believe the plan was designed to again raise the value to counter the effects of the launch of a private sector or market economy. [post 1 of 2….stay tuned]
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wmawhite (Dinar Guru) – Article quote: “…an official at the Central Bank of Iraq and stressed that the Iraqi dinar will be the vital currency in global stock markets…” …do…you remember from a couple months ago the ISX stating that they intended to be available to global investing in early 2017. [Yes…i sure do…] Well, well , well…1+1=2.
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Frank26 (Dinar Guru) – IMO – this month…November 2016…up until December 2016…I believe they need to change the value of their currency for 2017. From November 7th to December 7th – these are the golden periods that the IMF works with the CBI…and we will see if there is a change before 2017. IMO – does this not show they are in Article 8 compliance? The rate may be…10 to 20 cents…but their goal is to get to 1 to 1…THIS YEAR…2016…that way it can be introduced to the INTERNATIONAL community at 1 to 1 by the 1st of the year. THE RATE HAS TO CHANGE BEFORE JANUARY for any of this to have LIFE. [post 2 of 2]
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Iraqi Dinar/Dollar auction 11-16-16 (most recent listing)
Currency Auctions Announcement No. 3320
This daily currency auction was held in the Central Bank of Iraq on the 11-16-2016
The results were as follows:
| DETAILS | NOTES |
| Number of banks | 28 |
| Number of remittance companies | 15 |
| Auction price selling dinar / US$ | 1182 |
| Auction price buying dinar / US$ | —– |
| Amount sold at auction price (US$) | 148,181,665 |
| Amount purchased at Auction price (US$) | —– |
| Total offers for buying (US$) | 148,181,665 |
| Total offers for selling (US$) | —– |
More: http://dinarupdates.com/blog/
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Frank26 (Dinar Guru) – 2017 is the time when they will introduce the LOWER DENOMS…but it NEEDS A NEW RATE. [Guru] Delta told me…this was being introduced with great confidence to the citizens…RED ALERT! Dec 7th, 2016 the IMF board will do a review of lifting the 3 zeros. Saleh says we will delete the 3 zeros…from the exchange rate. “We will DELETE the 3 zeros from the payment of the dinar in Iraq.” THAT IS HUGE! But…they have to RAISE THE VALUE OF THEIR CURRENCY FIRST! They even said that the LOWER DENOMS will exist parallel with them for the next 10 years! Yes…they must change the VALUE BEFORE the new notes…as to not confuse the citizens… [post 1 of 2….stay tuned]
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Kaperoni (Dinar Guru) – For those who don’t know, deleting or dropping the zeros in the case of Iraq won’t happen overnight. It’s going to take time. The zeros will go away one by one as the dinar rises in value. What causes the value to rise is what is known as “supply and demand” Or what some call “market forces”. Meaning as investors and investment comes into Iraq, it will drive the value of the dinar up…Which will cause the zeros to go away naturally over time. There is no RV or single event. This is well documented in the IMF…Stand by Agreement.
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BGG (Dinar Guru) – […if three zeros are removed, a hypothetical is, eight $25,000 note would become a $25 note is that correct?] First off – it’s a 25k DINAR note… worth $25 USD (currently)…and when they get done revaluing – no matter what the USD value is – or should be OUT OF IRAQ…inside Iraq – 1 Dinar will still be worth 1 Dinar…a Dinar is a Dinar... so ask yourself – again, when they are writing these articles about their currency – who are they talking to? Iraqi’s – where a Dinar is still going to be worth a Dinar…so what are they removing? …it’s NOT A LOP – that is what taking a 25k (IQD) note to a 25 IQD note would be – and there’s NO WAY…So…if it’s NOT NOMINAL VALUE… AKA – .00086 >> .86 and it’s NOT A LOP… AKA 25,000 = a 25 IQD note…then what is it? a removal of the bigger – 3 zero notes over a period of time…
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wmawhite (Dinar Guru) – […[BGG] mentioned it might come out as exotic currency what does that really mean?] If it has value and there is someone on this planet that will exchange it for me, it doesn’t matter.
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SteveI (Dinar Guru) – [Dropping the three zeros is merely a description of the coming new lower denomination currency. On the magic day whatever day that is…The lower denominations will be announced and issued …including a 25 dinar note, a 10 dinar note, the 5 dinar note, and so on…Concurrent with that event the exchange rate will be updated to whatever value they have determined…Be it $.85 to the dinar, or $1.16 to the dinar, or $3.45 to the Dinar…] This is how we believe it to happen…
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BGG (Dinar Guru) – …there have been several BARN BURNER ARTICLES lately…Here’s a couple of…headlines from the last few days… “Reasons to delete three zeros from the Iraqi dinar and what it means to delete the zeros from currency“; “The central bank begins its first steps to delete the three zeroes from the currency“; “The CBI decision to remove three zeros from the currency of Iraq beginning in 2017“. They are pretty much telling us what’s happening…it’s VERY EXCITING!
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wmawhite (Dinar Guru) – Parliament has already given the CBI the “green light” to move forward with the delete the zeros project. This happen in March 2015. Furthermore, the CBI has been flooding the news with their intent, which is to put notes into the market place that currently has like value of $0.04, $0.09 and $0.18. The CBI is not telling the world that they are doing this only if Parliament does not go on recess. The CBI is driving/steering this ship. Everybody else is reacting to the CBI. [post 2 of 2]
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wmawhite (Dinar Guru) – [I see where parliament is going on recess in Dec and not coming back until Jan 07, 2017…I sure hope all laws are voted on that are needed before a change in the value on our investment or we are looking into 2017…?] Gee, wonder why the CBI has told the world that the 50, 100 and 200 notes are coming out in early 2017…Just wonder if the CBI thinks there are enough laws in place? …the CBI would not be flooding the media with this information if they (the CBI) did not already have what they needed to do certain things that (has the CBI said)…”there be the affect of the delete the zeros project”. [post 1 of 2….stay tuned]
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Aggiedad77 (Dinar Guru) – Article: “In fiscal policy seminar in Iraq in favor of proposing the establishment of a specialized commercial bank importation” Commercial Bank…would that be a vital and necessary thing at a program rate…where do you think this headed…why of course their Financial Reform kicking into high gear…why not…terrorism is breathing its last breath…the Long Line is chomping to get into Iraq in an even bigger way than has previously been experienced…a Commercial Bank would be just what the doctor ordered…what better way to resolves issues around credit and import policies from where…outside of the country of course…pay attention to Dr. Saleh…when he is speaking…it is truly Abadi’s thoughts that come from him…and the Iraqi people listen…listen with intent… the BEST is coming…all IMO.
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Iraqi Dinar/Dollar auction 11-15-16 (most recent listing)
Currency Auctions Announcement No. 3319
This daily currency auction was held in the Central Bank of Iraq on the 11-15-2016
The results were as follows:
| DETAILS | NOTES |
| Number of banks | 34 |
| Number of remittance companies | 16 |
| Auction price selling dinar / US$ | 1182 |
| Auction price buying dinar / US$ | —– |
| Amount sold at auction price (US$) | 148,849,754 |
| Amount purchased at Auction price (US$) | —– |
| Total offers for buying (US$) | 148,849,754 |
| Total offers for selling (US$) | —– |
More: http://dinarupdates.com/blog/
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Shredd (Dinar Guru) – […what is the incentive for the Iraqi people to bring the larger notes in if the value does not exceed the dollar?] …the plan is to reduce the supply of the dollar. This is huge. If they were flooding the market with the dollar, it would satisfy the need for lower denoms. BUT, since they are reducing the dollar supply and replacing with the dinar, think of the practicality of that at the rate today…ridiculous, right? So, this situation, the supply and then the corresponding necessary increase in the value to make the ease of carry, the incentive is there to use the dinar.
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Aggiedad77 (Dinar Guru) – Article: “Proposals on the central bank’s decision to grant the loan?” Quote: “The Iraqi government and the Central Bank of Iraq’s decision to allocate trillion dinars in the budget of 2017 to give a concessional loan for the establishment of small and medium enterprises is a correct and important step…” IMO…we are seeing the CBI acting here with regard to this loan for 2017 as though it is a done deal…so could they know already that the budget will be passed…that at least this portion of the budget will skate through Parliament unscathed…How would they be making plans for this loan to these sectors if they didn’t know already what was the outcome of the budget process within Parliament…I’m thinking we will see this budget passed this month…by the end of this month…and when it is passed/approved and published…oh the movement of their Monetary Reform will truly swing into a higher gear known more fondly as full speed ahead…
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Shredd (Dinar Guru) – How will the notes be removed? If not by law, then by incentive and if the latter is the case, how can you incentivise the Iraqi people to bring in their large notes? Add value to the artificially held down dinar! Reduce the availability of the Dollar and release into circulation the medium notes and eventually the small notes. I believe 2017 is going to be an exciting year in this regard. …watch for indicators of the tide changing with the dinar. Iraq’s back is against the wall and you should be excited. Lastly, just as a reminder which I’ve often said…this is currency folks… Currency which will represent the true value of Iraq’s economy…oil, gold reserves, growing infrastructure, gaining diversification of goods and services and investment faith. Not IF, WHEN…and we are getting closer! [post 3 of 3]
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Shredd (Dinar Guru) – I’m happy to be wrong, but the “gradual” increase in the value of the dinar that we’ve been reading about for the past few years may very well start off as a continued managed float before it moves to a full market-driven float to maintain stability. The 2% rate fluctuation stability requirement makes me wonder if that will be the case…to mitigate market reactions to large “steps” or tranching of the rate. We’ll have to wait to see. Anyways, this is great news in what I’ve felt is a bit of a lag or drought of news we can hang our hats on. [post 2 of 3….stay tuned]
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Shredd (Dinar Guru) – Article: “Central Bank: the deletion of zeros in early 2017” This IS a great article and aligns/confirms the plan we’ve been watching regarding removing the zeros. So what does this mean? …this means removing the large three zero notes from circulation. Now, that does not mean retiring them…they are legal tender. …they just recently released the 50k and 100k notes. So, this is an effort to reduce the large note count in circulation. This will also encourage usage of the electronic banking structure that has been in construction for the past few years…balance protection, rate lock windows, etc. …you will start seeing evidence of the reduction of US Dollar in Iraq. [post 1 of 3….stay tuned]
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tlm724 (Dinar Guru) – Article: “Central Bank: the deletion of zeros in early 2017” I am loving seeing this back in the news… BL [Guru Bondlady] always said it’s VERY good when they are talking about it! I have great hope for the new year. Shabs always said he needed stability and with the ongoing offensive in Mosul there will be stability in all of Iraq in a matter of months. There was a great article today about the CBI and the US Treasury. Article: “Central Bank of Iraq signed an agreement with the US Treasury to stop funding the organization Daesh” It reinforces our belief in this investment and that Iraq does have so much help! Lets…stay the course, better days are coming for sure.
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Iraqi Dinar/Dollar auction 11-14-16 (most recent listing)
Currency Auctions Announcement No. 3318
This daily currency auction was held in the Central Bank of Iraq on the 11-14-2016
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$) | 148,425,067 |
| Amount purchased at Auction price (US$) | —– |
| Total offers for buying (US$) | 148,425,067 |
| Total offers for selling (US$) | —– |
More: http://dinarupdates.com/blog/
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Breitling (Dinar Guru) – Question “We all know we can buy dinar from specific traders but when people say, “when will Iraq become Internationally trade-able.” what that really means is when can we go to our local bank and buy and sell dinar? It’s still treated as an exotic currency.” Look at all the currencies out there that are in the same range as the Iraqi Dinar…some you can buy and some you can’t. So that depends on the bank. There is no international law. When there were banks selling the Iraqi Dinar there was only a couple of them. For them to get the dinar. Order it. and be able to get it to their banks and give it to you…they are not making enough money. It disrupts business…Like Bank of America and these banks…I remember from one of the Bank of America employees that’s way up there…and so we talked about it. Basically he said they stopped selling dinar because it disrupted business. You had little old ladies calling every day asking “did the dinar revalue.” every single day. It just came up on them…this huge huge hype built into it and they simply had to shut it down. All the banks finally did it cause it was that big of a deal. That hype is gone by the way. It simply doesn’t exist. You can’t use that as a benchmark at all. It doesn’t matter if Bank of America sells it or Chase Bank it simple does not matter.
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BGG (Dinar Guru) – Article quote: “The governor of the Iraqi Central Bank, said the bank began to develop the first steps of the project to delete the three zeroes from the Iraqi currency.” “…the bank is working on mechanisms for the implementation of the project, it is expected to start at the beginning of 2017.” This is really the only article that matters…”begins it’s first steps…” …which implies they are on this “1st Q 2017” or before…and make it a competitor to foreign currencies…” Boom. “…the beginning of 2017…” as per their phrasing – is like, 49 days away? I think I can hang in there that long.
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Breitling (Dinar Guru) – Question “We all know we can buy dinar from specific traders but when people say, “when will Iraq become Internationally traceable.” what that really means is when can we go to our local bank and buy and sell dinar? It’s still treated as an exotic currency.” Look at all the currencies out there that are in the same range as the Iraqi Dinar…some you can buy and some you can’t. So that depends on the bank. There is no international law. When there were banks selling the Iraqi Dinar there was only a couple of them. For them to get the dinar. Order it. and be able to get it to their banks and give it to you…they are not making enough money. It disrupts business…Like Bank of America and these banks…I remember from one of the Bank of America employees that’s way up there…and so we talked about it. Basically he said they stopped selling dinar because it disrupted business. You had little old ladies calling every day asking “did the dinar revalue.” every single day. It just came up on them…this huge huge hype built into it and they simply had to shut it down. All the banks finally did it cause it was that big of a deal. That hype is gone by the way. It simply doesn’t exist. You can’t use that as a benchmark at all. It doesn’t matter if Bank of America sells it or Chase Bank it simple does not matter.
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Reasons to delete three zeros from the Iraqi dinar and what it means to delete the zeros from currency
Omar Al-Fateh – The reasons for deleting three zeros from the Iraqi dinar and what it means to delete the three zeroes from the Iraqi currency, the fact deleting three zeros from the Iraqi dinar, the official source at the Central Bank of Iraq, said that the beginning of the beginning of 2017, will the central Bey Iraqi deleting three zeros from the currency of Iraq, Finance Committee also announced in parliament that the central bank will start at the beginning of 2017 by deleting three zeros from the local currency, in other words, that the unity of the coin in 1000 dinars from the old currency will be replaced by only one denarius of the new currency, and so on…
More: http://dinarupdates.com/blog/
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SteveI (Dinar Guru) – Article: “Parliament plans to enact a law to guarantee bank deposits” Quote: “Finance Committee in the House of Representatives unveiled on Wednesday its intention to legislation of a special law to guarantee depositors’ money in Iraqi banks, while confirming that it will contribute to “boost confidence in the banking sector.” This is extremely important as it will give the citizens confidence in the banking system and to actually use it instead of putting their dinars under their pillows. I love this article.
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Breitling (Dinar Guru) – Article “Central Bank, the deletion of the zeros in early 2017”. We’ll let the date from the CBI speak for itself…point 1 “ The Iraqi dinar with global currency basket and handle it efficiently the worlds stock exchanges and financial markets.” So they basically want to add value to it so it can be used in currency baskets all over the planet…but it has to have value. So that’s what they want to add in early 2017. 2. they want to equalize currencies. That’s what they want to do. There are two things on the list they want to do. They are going to get rid of the auction floor. Because that’s actually the mechanism to bring in foreign currency to actually make it fit to where it actually reduces the value of the Iraqi dinar. And they are going to reduce the notes coming … So basically they are getting rid of two of the main things. That’s it. like I said they already reduced the note count to a point where they can actually add value to it. That’s what’s coming out and that’s why it should be so exciting. I gave you guys a date. Not an exact date but a date they are looking at and what’s going on.
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SteveI (Dinar Guru) – Article: “Delete the three zeroes from the currency of Iraq early in 2017” Quote: “…the aim of the deletion of three zeros is to support the Iraqi dinar, and make it a competitor to foreign currencies, pointing out that this strategic project will serve the country’s economy, as the dinar will be included in the global basket of currencies in the vital exchanges. He added that the bank is working on mechanisms for the implementation of the project, it is expected to start at the beginning of 2017.” Now I am getting very encouraged and starting to get excited. It is finally coming our way. […do you feel or are you hearing we will need to wait until 2017 or could it just be any day after they liberate Mosul?] I think early 2017 seem to be what many are talking about.
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Iraqi Dinar/Dollar auction 11-13-16 (most recent listing)
Currency Auctions Announcement No. 3317
This daily currency auction was held in the Central Bank of Iraq on the 11-13-2016
The results were as follows:
| DETAILS | NOTES |
| Number of banks | 34 |
| Number of remittance companies | 15 |
| Auction price selling dinar / US$ | 1182 |
| Auction price buying dinar / US$ | —– |
| Amount sold at auction price (US$) | 148,395,914 |
| Amount purchased at Auction price (US$) | —– |
| Total offers for buying (US$) | 148,395,914 |
| Total offers for selling (US$) | —– |
More: http://dinarupdates.com/blog/
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MadDScout (Dinar Guru) – [I just…just saw a comment that a budget will be read a third time? I thought anything that has to do with moving forward with reforms only has to be two time before passing.] The 3rd read is the final read/vote. [Is the passing of the budget a must, to establish a change in the revalue?] After the budget comes out it can be adjusted…Whether before or after.
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Frank26 (Dinar Guru) – Article quote: “Allak Disclosed the CBI will Announce the Names of the Banks According to the International Classification Using Global Assessment Companies Working On the Evaluation of These Banks” Keyword (CBI governor) is telling all of their banks we are currently classified all of you according to the international classifications very soon…why in the world would you now set these banks up now that you have most of Mosul secured..why would you be setting them up to be doing international work…and to prepare themselves for an influx of lots of currencies…because they are doing a MR of their currency. They have no liquidity…and the LD’s will solve that problem once they raise the value of their currency….and their currency that they will introduce at the beginning of next year will be legal and tender for 10 years and more than likely forever….but none of this can happen unless they raise the value of their currency in this year of 2016…IMO.
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MadDScout (Dinar Guru) – [Why is the GOI waiting until the 26th to dicuss the Budget law?] They appear to have taken a recess till then and in the meantime they are working on the details. When it comes back it will be the 3rd read.
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The CBI decision to remove three zeros from the currency of Iraq beginning in 2017
An official source at the Central Bank of Iraq that the beginning of the beginning of 2017, will the central Iraqi Bey deleting three zeros from the currency of Iraq.
The official source at the Central Bank of Iraq emphasized that the purpose of deleting three zeros from the currency of Iraq is to lift the economy and prosperity to raise support for the Kuwaiti Iraqi dinar, which will be a key reason for the return of Iraq’s economy again…
More: http://dinarupdates.com/blog/
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Hub (Dinar Guru) – i only go on economic principle…the facts i go on is for iraq to return to the height of their hayday, 50’s, 60’s 70’s etc, they have to be in the middle of global trade and tourism, and to do so…they must have a tradable currency, or no one will do business with them… rate? i dont have the foggiest, but it must be one all countries want to trade for, it must show the value of the resources of the country and must be the acceptable currency for that particular inenity. so as soon as they put a reasonable value, the world will beat their door down and all will be well.
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1bobby (Dinar Guru) – Article: “More than half a million visitors to the Baghdad International Fair” Quote: “…this number of visitors is an important milestone in the ministry’s ability to attract citizens to visit the Baghdad International Fair and see the offers from companies and countries.” Lots of business was done at this 10 day fair. Pretty much opened Iraq to outside investment possibilities.
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Breitling (Dinar Guru) – When I read this [article] it was a remarkable piece. It basically confirms what I’ve been telling everybody…that they have been pumping in U.S. Dollars to keep the value of the dinar low and that they are going to stop and that is what the articles coming out are about. There’s a radical change today. You know why? It’s because they are reducing the dollar. They’ve already reduced the note count. How much more do they need to go? I don’t know. But it doesn’t matter for us…for you and me they can start adding value. Remember to get to a billion notes is for $3.25 so we have all that wiggle room below $3.25 to $1.17 and on down below that.
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Frank26 (Dinar Guru) – …they are in the last final stages of collecting the 000’s…they need to hit a certain percentage point of their currency of their M1, M2, M3 figures…in order for them to raise the value of their currency in 2016…they need to be accounted for. The project to lift the 000’s is old news…it has been going on for a long time…for years…but IMO this is…the end of this project…increase the value of your currency once you know these numbers and then introduce the LD’s at the beginning of 2017. I’m excited that their Monetary Reform is in an RI right now in 2016…and in order for them to accomplish what articles…are telling us in 2017 can only be done if they raise the value of their currency... [post 2 of 2]
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Frank26 (Dinar Guru) – IMO they are down to the wire in collecting the 000’s…IMO the CBI is looking for a specific amount to get into their inventory numbers…they know how many dinars they printed…they know how many dinars were stolen…they know how many dinars were counterfeited…they know how many dinars were blown up…but they don’t know how many dinars were hidden by the citizens…they need to know exactly what is out there with the citizens… and the CBI is doing a seminar with the heads of Iraq to teach them the difference between counterfeit currency and real currency…the citizens know what is going on…and I believe the citizens are going to bring in their dinars…they need to know about their M1, M2, M3, M0 figures…before they can add value to their currency…that would help them to determine what value they want…this is all part of the MR… [post 1 of 2….stay tuned]
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rcookie (Dinar Guru) – Article: “Central Bank attempts to reopen the subfolder Arbil with new look” Quote: “…the Central Bank Governor on the relationship during his visit to Kurdistan region about two weeks ago and met with leaders of political and financial territory and agree to open a subsidiary Bank but a new suit“. SO…AS WE SEE THE CBI ERBIL CBI ANNEX WAS CLOSED FOR 3 YEARS…AND IS NOW REOPENING …
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The central bank begins its first steps to delete the three zeroes from the currency
The governor of the Iraqi Central Bank, said the bank began to develop the first steps of the project to delete the three zeroes from the Iraqi currency.
Between the Keywords in a statement that the aim of the deletion of three zeros is to support the Iraqi dinar, and make it a competitor to foreign currencies, pointing out that this project is strategic It will serve as the country ‘s economy, as the dinar will be included in the global basket of currencies in the vital exchanges. He added that the bank is working on mechanisms for the implementation of the project, it is expected to start at the beginning of 2017.
He pointed out that the Keywords introduction of the new currency does not mean the destruction of ancient coins, but will continue to trade for about 10 years.
Courtesy of RCookie
Read More: http://www.dinarupdates.com/showthread.php?43559-The-central-bank-begins-its-first-steps-to-delete-the-three-zeroes-RCookie
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Frank26 (Dinar Guru) – IMO…they are going about the MR and the reinstatement of their currency to add value to their currency in 2016 in order to be ready for 2017…the budget…and introducing the LD’s…and the coins… because this is what the IMF has told them…this is their agreement…and this is what they have been doing…the board of directors of the IMF have IMO given them permission to receive this second loan because they have read everything that was presented to them…IMO...the CBI has to raise the value in 2016 in order for 2017 to have any reality…you cannot implement the project of lifting the value of your currency by lifting the 000’s of the IQD without increasing the value first…
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SteveI (Dinar Guru) – […if the project begins in 2017, does the RV happen at the time it begins or after?] My understanding is that they will change the value of the IQD prior to introducing the new lower bills. Think about it, if you kept the rate the same why in the world would someone turn in one 25,000 note and now have to carry 1000 notes and end up with the same value.
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Hub (Dinar Guru) – Article: “CENTRAL BANK: THE DELETION OF ZEROS IN EARLY 2017“ Quote: “The governor of the Iraqi Central Bank on the Keywords that project to delete the zeros will be implemented in early 2017, indicating that the bank began to develop the first steps of the project.” …a thought, they are about to change the value of a 25,000 note from $22 to maybe $75,000, why would they say we are going to do this is 2017 so every tom, dick and harry can go buy some more…i think it is a ploy and i would not be surprised to see it much quicker… […since the CBI indicating the dropping of the 3 zeros in early 2017, does that mean that based on this article we wouldn’t see a change until then or would they have to begin the rate change part of the process sooner…?] in my own humble opinion, i think they would have to implement the change before dropping the zeros which is really bring out lower denoms and getting the big notes off the street.
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The Central bank refuses to bury the money and calls on citizens to acquire government bonds
Alsumaria News / Baghdad – Rejected the central bank, on Wednesday, “bury” the money underground, while calling on citizens to purchase government bonds.
The bank said in a statement received Alsumaria News , a copy of which was “noted the increasing incidence of the audience to revisit replace buried currency very large amounts . ” noting that “this process is a negative indicator of the lack of interest in the national currency.” the bank , “he said the national currency was buried lead to harm deliberately national currency and carries extra Colva,” adding that “currency is a symbol of national sovereignty and symbols.”…
More: http://dinarupdates.com/blog/
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rcookie (Dinar Guru) – Article quote: “Chief financial officer at the US Embassy in Iraq, John Sullivan has praised the efforts of Iraq in the reform of the central bank, which confirmed that the bank «completed within a year more than what has been accomplished in the past 13 years.” …WHICH IS WHY THE CBI IS GETTING RAVE REVIEWS FROM IMF AND UST...AND THE TRANSPARENT CRITIQUE FROM POLITICAL AND MEDIA SOURCES SO TRANSPARENT AND SUSPECT… …CBI REFORMING BANKING SECTOR…AND THE UST AND IMF LAUDING THEIR RESULTS WITH CLAIMS THAT THEY HAVE DONE MORE IN THE LAST YEAR…THAN THE PAST 13 YEARS COMBINED…THIS IS CRITICALLY IMPORTANT STUFF…
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rcookie (Dinar Guru) – Article: “The central bank re – opening of branches in Arbil, Sulaymaniyah and linked officially” SO IN ADDITION TO OPENING NEW CBI BRANCH IN NAJAF FOR MIDDLE EUPHRATES REGION… HERE THEY ARE ANNOUNCING THE RE-OPENING OF ERBIL AND SULAYMANIYAH BRANCHES AND OFFICIAL RE-LINKING WITH ALL BRANCHES… [It almost like they are getting ready for something.] YES THEY ARE…AGREED…AND THE UST RIGHT THERE TO MAKE SURE THE I’S ARE DOTTED…T’S CROSSED…
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rcookie (Dinar Guru) – Article: “Masum planning calls for a general census of population” ANYONE KNOW WHY…A GENERAL CENSUS IS SO IMPORTANT…ANYONE KNOW HOW TO SPELL HCL…TO HEAR MASUM ACTUALLY CALLING FOR GENERAL CENSUS…WOW!
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Magda Tamimi: Rethinking the fiscal policy has become inevitable
BAGHDAD /tomorrow Press – Confirmed the parliamentary finance committee member Majda al-Tamimi, said Tuesday that re-examine the fiscal policy in the country has become inevitable, stressing that it is necessary to diversify the revenue until the economy not be subject to fluctuations in world oil prices and policy affecting the oil market.
She said Tamimi in an interview for “tomorrow’s Press,” that “the general budget still depends largely on the oil revenues, which amounted to about 86%not to mention the absence of other sectors and have yet to find those considering or actual steps of the previous governments and the current to change this approach, it is imperative to restore public finance policy and provide what is more worthy to work with and this is it inevitable to provide subject for discussion”…
More: http://dinarupdates.com/blog/
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mike (Dinar Guru) – Article VIII is the key, they won’t be able to reduce the money supply and create demand unless the currency is internationally recognized, if they just jump off the peg now I’m concerned that the dinar will drop significantly in value. It will marry up the market and official rates, but at extreme cost to the citizens by increasing inflation and reducing purchasing power. So, if they start the process in 2017, when will they accept Article VIII? We know the MCP has to hold for at least 90 days at 2% or less so that puts us roughly in April or May, at the very earliest. Then they accept Article VIII and begin to rebuild the economy and the currency and the dinar slowly begins to appreciate while the money supply decreases, I’m wondering how long that would take? By all estimates, the Iraqi’s are talking about a two year process once it’s begun, so for me, this puts it out a good bit. I guess the good news is that they’ll actually begin the process in 2017…
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rcookie (Dinar Guru) – SOMEONE ASKED ABOUT WTO ACCESSION PROGRESS AND STATUS… THEY ARE PREPARING A SPECIALIZED LEGAL TEAM TO DEFEND IRAQS FINANCIAL, ECONOMIC AND INVESTMENT RIGHTS INTERESTS IN LAWSUITS WHOSE COSTS CAN WEIGH HEAVILY AGAINST BUDGET AND WILL MINIMIZE SPENDING ON INT’L LAW FIRMS THAT IRAQI IS CURRENTLY SPENDING… ESTABLISHMENT OF ARAB UNION OF INTERNATIONAL ARBITRATION HEADQUARTERS IN BAGHDAD…A SPECIALIZED LEGAL TEAM TO REPRESENT IRAQS INTERESTS ON INTERNATIONAL TRADE AND BUSINESS… THINK ABOUT THIS RELATIVE TO ONE OF THE BIGGEST ISSUES INVOLVED WITH WTO ACCESSION…CONFLICT AND DISPUTE RESOLUTION BETWEEN TRADE NATIONS…AND IS OFFICIALLY REGISTERED WITH THE UNITED NATIONS…ANYONE NOT SEE THE POWER AND SIGNIFICANCE OF THIS MOVE TO THE INTERNATIONAL INVESTMENT COMMUNITY… AND WTO AND IMF….
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Enorrste (Dinar Guru) – Article: “Central Bank: the deletion of zeros in early 2017″ The following quote adds some fuel to our story: “this period will enable the central bank to withdraw the old currency in accordance with the dynamics and mechanics in order to preserve liquidity in the market.” We see from this…that this precludes any LOP discussion. But more importantly there are the words “dynamics and mechanics” which clearly make this an ongoing process rather than an event. The key is the last phrase referencing maintaining the liquidity in the market. What makes this a particularly challenging process is that they are going to be reducing the money supply, which would normally reduce liquidity, but will be doing so only as the VALUE of the dinar rises, which will offset the reduction in liquidity. I can understand why they have been hesitant to begin the process. It hasn’t ever been done before, that I am aware of. Usually a currency loses value due to inflation. In this case, however, the expectation is that it will gain in value. What they cannot afford is to have 50 trillion dinars out there if the value skyrockets upward. So I understand there caution.
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Iraqi Dinar/Dollar auction 11-10-16 (most recent listing)
Currency Auctions Announcement No. 3316
This daily currency auction was held in the Central Bank of Iraq on the 11-10-2016
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$) | 148,551,279 |
| Amount purchased at Auction price (US$) | —– |
| Total offers for buying (US$) | 148,551,279 |
| Total offers for selling (US$) | —– |
More: http://dinarupdates.com/blog/
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Frank26 (Dinar Guru) – Are we at the end of the road of the MR? I tried to tell you…that there is a Transitional Rate with the IQD. Prior to that we had talked about the RI (Reinstatement) – which there are many steps inside of it, not just one. All steps have to come to a conclusion…a closure. One of those steps is the take the IQD and to start using it Internationally…(Article 8)…with or without them telling you about it. …articles start to appear…1, 2, 3…then 4…and now 5. All coming from the CBI…all talking about lifting the 3 zeros. IMO – there are agencies with the authority to do private things with the government of Iraq – with their currency…at a rate that we cannot see. Every bank in Iraq has the word INTERNATIONAL plastered on their lapel.
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Breitling (Dinar Guru) – Question: [The CBI says they’re raising the dinar against the dollar but I really don’t understand the wording…are they allowing it to float?] Up until a $1.17 it’s going to be a dirty float. These guys are manipulating everything…again what are they using? There using the US dollar to pin against the dinar. They’re using the volume of dinar that are out there. And they’re using the auction floor…throwing the word float out there I don’t think it’s proper. But once they start staging it there will be more and more and more of a float. There will be more of a market driven value. That’s why they’re staging it like that. The CBI is hell bent…they are telling everybody. There are articles that came out [that I want to get more info on them…where they came from…what events were they talking at] but they are remarkable articles about the value of the dinar changing. But it’s no secret. Even without that information those type of articles coming out if you can’t see it coming you’re just not looking hard enough…
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BGG (Dinar Guru) – [So what is your take on this latest “Upgrading of the Iraqi Currency” rash of articles?] …even though this is likely a “second circle” commenter…it sure is nice to hear someone in that sphere talking (affirmation) along these lines… AND this isn’t “confirming” anything HAS happened… but still adds another log on the “fire” – so to speak…and this speaks to the very heart of the matter for many people… “IS THIS REAL“? …after all this FBI intervention… had this NOT BEEN REAL – there is NO DOUBT they would have been able to attack the veracity of this – as an investment around that time. AND…I (even for myself) go back to the FUNDAMENTAL DOCUMENTS as my “proofs” for my thesis… The SIGR Report…The LOI’s…All of the IMF Documents. The EVIDENCE MOUNTS DAILY. “Affirmation”…
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Central publishes a schedule prices, gold bullion and coins, and confirms that the latest unavailable
The deployment of the Iraqi Central Bank, on Wednesday, a schedule prices gold bullion and coins for the current week, as he pointed out that the coins are currently unavailable.
Bank and publish a schedule of prices of gold bullion and coins for the current week Alsumaria News received a copy of it, and the table that the specie 15 g and which normally retails for 751 thousand dinars unavailable while the price minted reached 22 carat g 1.099 million dinars and referred to it is currently unavailable…
More: http://dinarupdates.com/blog/
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Enorrste (Dinar Guru) – The CBI will begin destroying the large notes, thus reducing the money supply, and this will put upward pressure on the value of the currency, irrespective of Article VIII. If they also accept the Article VIII conditions, which I believe is the stated goal of the IMF, then the process could move along much faster. Trade would improve in Iraq, thus allowing more money to come into the country, relieving the liquidity crisis somewhat, and this would allow the CBI to begin reducing the money supply. They are clearly on record that they want the money supply to be brought down to 40 billion dinars. They just have to have a mechanism to make this happen without too much of a jolt internally. And, of course, they have to START. I believe the article is saying that they have made a determination that the start will happen in early 2017. [post 2 of 2]
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Enorrste (Dinar Guru) – Article: “Learn the benefits of removing zeros from the Iraqi currency ” I tend to agree that entry into Article VIII is a necessary prerequisite. I doubt any serious investors in dinars would play in the dinar market without some form of level playing field that is offered through Article VIII. The market spread situation can be corrected by floating the currency. An announcement that the currency would be allowed to float would automatically make the official rate and the street rate identical. Furthermore, the plan is clearly stated to reduce the money supply from 50 trillion dinars to 40 billion dinars. They just haven’t started the process yet. It is my take that the article …is saying that this process will begin in early 2017.
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BGG (Dinar Guru) – Article: “Central bank governor for “tomorrow Press”: aspire to get foreign Sndhatna international guarantees” Quote: “…The governor of the Iraqi Central Bank on the Keywords, on Sunday, that the bank is trying to get international guarantees for foreign bonds…” One would have to assume this is a foregone conclusion…all of this IMF support is about “international acceptance”.
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KEYWORDS: BANKS CURRENTLY CLASSIFIED ACCORDING TO THE INTERNATIONAL CLASSIFICATION SOON
Governor of the Central Bank on the Keywords revealed that the central bank will announce the names of the banks in accordance with international rating by one of the world Rating companies that are working on the evaluation of these banks.
A statement issued by the media office of the bank on Wednesday received Iraqi Transmission Network (IBN) that it came in his answers through questions directed to him at a seminar hosted by Two Rivers Center for dialogue on monetary policy in Iraq that have been identified valuable three axes currency loans and developmental stages of the Central consultations window with the monetary fund on the facilities and external lending…
More: http://dinarupdates.com/blog/
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BGG (Dinar Guru) – …the auctions have been a conduit of funds being used for nefarious purposes. [THEY ARE SHEDDING LIGHT ON THE 2ND SIDE OF THE WAR ON TERRORISM WHICH IS THE FINANCIAL AND ECONOMIC SIDE WHICH SUPPORTS THE TERRORISTIC ACTIVITIES…] They have been likely waging this side of the conflict for longer, with greater veracity than anyone is aware of…Mosul is getting all the headlines – but the financial side has been “fast and furious” for sometime now…Huge steps forward allowing the UST offices IN THE CBI.
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Enorrste (Dinar Guru) – Finally, the statement is made that the dinar will takes its place in a “basket of currencies” that contribute to the “vital world exchanges.” At present the only currencies that hold this sort of recognition are the dollar, Canadian and Australian dollar, pound, euro, and a few others. By making this bold statement, therefore, the author is re-iterating what we found from Saleh years ago namely that the dinar is going to become a world reserve currency. The only way in which the dinar can take this position is if it is internationally recognized, if Iraq is a part of Article VIII of the IMF Charter, if the value of the dinar is commensurate with that of the world’s reserve currencys (worth about a dollar American, more or less), and is supported by reserves that PROVE that it is a strong currency. The current reserves of $40 billion are sufficient to make the currency the strongest in the world at $1 per dinar. Unlike the US, they won’t need “the full faith and credit of Iraq” to support their currency. However, in addition to the highest relative reserves, Iraq also has the second highest known reserves of underground wealth in the world. Therefore it is well positioned to take its place as a world reserve currency as long as they stick to the plan. The bottom line for me is that this article, even if it is repeating a plan elaborated over a year ago, is more specific and continues the timeline from that earlier article. 2017 would appear to be the year when this will all truly begin to move forward. Keep your fingers crossed! [post 3 of 3]
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Enorrste (Dinar Guru) – Kaperoni has rightly stated...that a minimum of $.10 for the value of the dinar would make it possible to begin removing the three zero notes. This means that we must look for a minimum of a 100 times increase in the value of the dinar sometime during the coming year. Second, the purpose is specifically stated to “support” the dinar and to make it a “competitor in world markets.” At this point the dinar is not internationally recognized or tradable. Both of these factors must be eliminated for point number 2 to come to fruition. The only way in which they can “support” the dinar (in terms of value) and make it “competitive” in the world markets is to allow it to float and to rise to the point where the “support” and “competitive” value become real factors. I therefore expect to see the float start shortly after the new year. Third, this move will “serve the Iraqi economy.” Clearly a move to a float and an internationally recognized currency will cause imports prices to fall quickly and allow for imports into Iraq more easily. This would, then, be consistent with point number 3 that the plan will “serve the Iraqi economy.” [post 2 of 3….stay tuned]
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Iraqi Dinar/Dollar auction 11-06-16 (most recent listing)
Currency Auctions Announcement No. 3312
This daily currency auction was held in the Central Bank of Iraq on the 11-06-2016
The results were as follows:
| DETAILS | NOTES |
| Number of banks | 33 |
| Number of remittance companies | 15 |
| Auction price selling dinar / US$ | 1182 |
| Auction price buying dinar / US$ | —– |
| Amount sold at auction price (US$) | 147,044,275 |
| Amount purchased at Auction price (US$) | —– |
| Total offers for buying (US$) | 147,044,275 |
| Total offers for selling (US$) | —– |
More: http://dinarupdates.com/blog/
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Enorrste (Dinar Guru) – Article: “Learn the benefits of removing zeros from the Iraqi currency” I think it is time to start getting excited, again. The first thing that I noticed in this article is the follow quite specific statement: “The purpose of deleting three zeros from the Iraqi currency is to support the Iraqi dinar and make it a competitor of foreign currency“, returned him as “this strategic project will serve the country’s economy if it will be inclusion of the Iraqi dinar in the global basket of currencies in the vital world exchanges.” There are four things to note here: (1) the large notes wil begin tol be deleted “beginning in 2017”; (2) the purpose is to make the dinar stronger (note the word “support” and the phrase “competitor of foreign currency”; and (3) this will “serve the Iraqi economy”; and (4) the dinar will take its place in the basket of currencies in the “vital world exchanges.” Let’s look at these one at a time. [First] The large notes will be deleted. This cannot be a LOP because a LOP would not change the value of the dinar, and the other three points above make it clear that the dinar will rise in value. Therefore, there is only one way that the large notes can be removed from the market place without destroying the fragile liquidity that exists in Iraq already: the value must rise enough to make it feasible to remove the large notes. [post 1 of 3….stay tuned]
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rcookie (Dinar Guru) – THE FIGHT AND PROGRESS AGAINST CORRUPTION HAS BEEN ONGOING SINCE ABADI TOOK OFFICE….BUT THESE ARE INTENSE STEPS AND COOPERATION BY CBI AND WASHINGTON TO CONFRONT AND ADDRESS THE AUCTION BREACHES…WHILE SIMULTANEOUSLY SETTING UP THE NEW ANTI CORRUPTION AML ANTI TERRORISM DEPARTMENT WITHIN THE CBI TO BE COMPLIANT WITH IMF MANDATES…AWESOME PROGRESS… [post 2 of 2]
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rcookie (Dinar Guru) – Article: “Iraq and its allies and drying financing Daesh” Quote: “The Central Bank of Iraq and through close cooperation with the US side put a black list to prevent funds from reaching the territory controlled by Daesh, and has more than 150 companies today.” SO…HERE WE HAVE DETAILS ON THE US TREASURY INVOLVEMENT WITH CBI…TO MONITOR USD SHIPMENTS FOR THE 1ST TIME…TO PREVENT DELIVERY OF USD TO ILLICIT DESTINATIONS…AND DESCRIBES AS TURNING POINT OF FIXING THE FAILURE OF THE AUCTIONS…AND THROUGH CLOSE COOPERATION DEVELOPED THE “BLACKLIST” OF BANKS TOTALING 150 THAT ARE NOW EXEMPT FROM AUCTION ACTIVITY… [post 1 of 2….stay tuned]
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