Dinar Investor – Jeff   Article “Delaying the approval of the 2020 budget will lead to economic stagnation and harm the people“. Quote – “It is the budget of the patient Iraqi people.”  Do you know why it’s the budget of the people?  It’s actually never been the budget of the people before but it is now because this is the budget that has everything in it that’s post rate change that is for the people.  The reforms.  The reconstruction…This is the first budget that’s going to rebuild their entire country. 

MilitiaMan – Dinar Guru  Article:  “Al-Nassiri: Delaying the approval of the 2020 budget will lead to economic stagnation and harm the people”    All the bounce back and forth in politics in regard to the PM, is creating even more stress on and toward the end result to be sooner now than later for the economic reforms to be completed now. The oil price decline, the fears of corona virus, unemployment, economic stagnation, etc., the list goes on! The advice it appears to be from Samir al-Nassiri, is to get the reforms done and now.

Dinar Investor – Jeff  …remember they…play a ton of games regarding their politics in the media.  So be careful how you receive that [the prime minister tentatively resigning]…Even with what’s going on they still have a stable enough government to change the rate.  Remember, the CBI never said they needed to have a fully completed seat of government.  What the CBI said before they agree to delete the zeros they said Iraq needs to remove their corruption…the corruption is gone…I’m not worried about the formation of the government.  That’s why I don’t put a huge emphasis on it.

Chattels – Dinar Guru    “Iraqi President Bahram Salih accepts the withdrawal of Mohammed Allawi as PM nominee & begins look for a new candidate.“;  “#Iraq PM designate@MohammedAllawi just tweeted he’ll not make further attempts to form an Iraqi govt following failure of parliament to get quorum to vote on his candidates. Key question now is who will be the next designate charged by the Iraq president, within 15 days.”

MilitiaMan – Dinar Guru   …From the CBIs perspective they are and have been ready and it is my understanding the CBI has publicly shown the citizens they are accepting the IMF obligations of Article 8. That was back on the 23rd of February 2020 in a 55 page report in Arabic.  It mentions getting the flow of money to the citizens, lifting restrictions on their funds and allow freedom of external transfers of such funds. That report has me of the mind once it was published for the citizens, it was notice to the BIS…the citizens, and then to us that they are going to be lifting the exchange rate at a very close point in time, imo. Add in the printing of new notes, minting coins, all have been done with the afore being and end game notification if you will.. IMO.

David M. Witty – Dinar Guru   Iraqi Parliament delays vote on government of PM Mohammed Allawi due to lack of attendance.

Source: Allawi will deliver a statement shortly after the withdrawal from the mandate

A political source said, on Sunday, that Prime Minister-designate Muhammad Tawfiq Allawi will deliver a statement shortly after he withdrew from his mandate to form a government.

The source said to Alsumaria News, “Prime Minister-designate Muhammad Tawfiq Allawi will deliver the withdrawal statement from forming the government, shortly.”

Today, Sunday, the House of Representatives failed for the second time to hold an extraordinary session to vote on the government of Muhammad Tawfiq Allawi.

Alsumaria.tv

The Iraqi parliament postponed the approval session for the new government because the quorum was not complete

BAGHDAD (Reuters) – Iraqi television said the parliament again postponed a session to approve the government of Prime Minister-designate Muhammad Allawi on Sunday because the quorum had not been completed.

On Thursday, lawmakers failed to agree on a new government, which added to the stalemate, stalled efforts to end unprecedented turmoil and stalled the country’s recovery from the war years.

Ara.reuters.com

Kaperoni – Dinar Guru    I’ll say it again the only way the dinar is going to go up in value is when Iraq creates the conditions for investment to come into the country and rebuild through the private sector. And only with the success of that will be the success of the dinar. Monetary policy is a set of tools that control the exchange rate based on factors within the economy such as inflation. And as investment comes in the country inflation will also come forcing the CBI to use it’s monetary tools.  So the bottom line is if we’re ever going to see the dinar go up in value we’re going to have to see the success of a private sector market economy in Iraq.  …they need to pass laws, get the Prime Minister and his cabinet in place, and create stability so investors want to come.

Vital Brad – Dinar Guru   We’ve just been notified that the parliament session that was supposed to held today on Saturday is now pushed to Sunday.  They pushed it back a day.  There still seems like a lot of urgency to get it done…by Monday March 2nd that’s Allawi’s last day to have his government set.  Otherwise they can remove him as the Prime Minister and basically gonna start the process over.  Tomorrow is gonna be a big day…things are really getting exciting with the Iraq stuff…

Mountain Goat – Dinar Guru   Article:  “MUHAMMAD ALLAWI CONFIRMS EARLY ELECTIONS: THE GOVERNMENT PROGRAM INCLUDES HOLDING IT WITHIN A YEAR”  Quote:  “WE AFFIRM THAT THE INDEPENDENT HIGH ELECTORAL COMMISSION WILL PROVIDE US WITH A SPECIFIC DATE THAT DOES NOT EXCEED A YEAR from this day.”   I sincerely believe we will be out of this investment by then.

Chattels – Dinar Guru   For a parliament session to obtain a quorum, half plus one of its members must show up to vote — which is 168 members. Half plus one of the attendees must vote for the Cabinet to approve it. This means Shiite parties can hold the parliament session or make quorum without the Sunni and Kurds, but today there were Shia defectors also and even if the Shia can muster quorum and decision without the support of Sunni and Kurdish parties will add to an already divisive situation in Iraq , in my view.

Vital Brad – Dinar Guru    Article “Iraq fails to form new government, prolonging crisis“.   They were supposed to meet on Thursday.
Allawi showed up.  About a hundred members of parliament showed up and they couldn’t get the job done…Allawi wants to put in what’s called technocrats.  People that aren’t necessarily associated with a party…To try to get rid of this corruption…Allawi is really doing what the people of Iraq want.  They want that Iranian influence out and by him coming in and putting a cabinet of technocrats or basically independents in potentially could take away that corruption…If he doesn’t get it done by March 2nd, we’re talking Monday, then his time’s up...They’re supposed to meet tomorrow.  They’ve got to get it done tomorrow [By Monday at latest] otherwise Allawi’s out.  What does that mean?  This thing could get dragged out…

Dinar Investor – Jeff  …since the beginning of the year I basically said…Iraq would take their sweet time because they really had nothing left to do and that’s playing out tremendously within the formation of the government…they are milking the formation of the government.  IMO though the formation of the government is done.  Complete.  I really wouldn’t worry about it…we’re at the end of this ride…it’s all coming together right before our eyes…

MilitiaMan – Dinar Guru   Article:  “The central bank clarifies the administrative framework for financing imports and the mechanism for selling foreign currencies”  Quote: “It also clarifies the process of collecting and sterilizing the local currency considering that this bank represents the monetary authority in Iraq.”   The act of sterilizing the local currency is a practice by major global players. It appears the CBI is preparing or is now prepared to defend their currency in world markets.. Something that the CBI has now been told to the world that they are now obliged to play by the IMF Rules.. imo.. Very good indeed imo.

Kaperoni – Dinar Guru   …one...They [CBI] are a professional organization utilizing professional techniques to manage and control the financial system in Iraq.  Two, there is to much currency in circulation. Three, Iraq’s total mineral net worth is 15 – 16 trillion dollars. At the current dinar in circulation, a 1 to $1 RV would completely bankrupt the country literally 3 times the entire worth of minerals including oil. Four, such an event would completely throw the entire financial system into chaos in Iraq. Five, monetary policy is a group of tools that support the demands of the financial system.  A RV or RI completely circumvents that process. For example the CBI generates revenue from the buy/sell of currency. It also reserves the right to raise or lower the value to counter inflation or deflation from time to time if needed. A RV would not only create chaos, but would prevent the usage of those tools. And lastly a currencies value is determined by market forces. Not some random or arbitrary value. That is 6 solid reason the dinar could never and will never will RV/RI. Our only hope is a gradual appreciation directly related to the success of the private sector/market economy.

Mountain Goat – Dinar Guru   So the drama of the ratification of Allawi to take the seat of the prime minister continues. We expect this to happen this week, probably Thursday. Then things should move quickly in Iraq.

Adam Montana – Dinar Guru   [We should then be looking at a fully formed government which is a requirement for the rv to occur.]   It’s not a stated “requirement” by any means, but it is hard to see it happening without it.  I don’t think we need a “fully” formed government. 80-85% will do.

Chattels – Dinar Guru  Article quote:  “The deficit is very large and can be overcome only through three axes. Either reduce operating expenses to a very large degree, especially the item of allocations and benefits, or resort to taxes. This is also a very big burden on the Iraqi people, or external borrowing, and this also bears the weight of future generations. “.  No mention of deleting the zeroes or ” RV ” as a solution/remedy.  Frankly, I would not expect any news or advance notice of such an impactful economic event(s).

Whitelions – Dinar Guru   … lets see what the cbi does when the cabinet is voted in…it looks like that will be very soon. The CBI is ready …the work that is starting in the country is demanding it…not just the protesters but the contractors that are coming in are expecting it…not just the us but every country wanting to work in the country and the good thing is Iraq is being very picky about what country’s it will do bis. with because they know they can…everybody wants a piece of this pie…but If I have to guess it would be with in the next 2 to 3 months…

Tman23 – Dinar Guru   …Kap posted the other day…16 trillion in whats in the ground…150 billion barrels… has been now just quadrupled…when that number 16 trillion was released…Trump in 2012 or there about tweeted…“US deficit 16 trillion and Iraq valued worth 16 trillion…INTERESTING!”…there is a plan here and it definitely is not Kap’s market economy force…

Whitelions – Dinar Guru   …they will never ever post that they are going to change the rate of their currency, BUT we have all been in this a long time and can follow what and how things are going in that country …

Vital Brad – Dinar Guru  …Part of me does feel like they will come out at a low rate…just throwing a number out there let’s say 10 cents, something like that just to get back on the international market and get rid of some of the amount of the Iraqi dinar that’s out there…get some people to turn in their dinar at a lower rate.  I believe it can float up to a higher rate…Kuwait’s currency right now I believe is around $3.40 and Iraq has much more oil reserves than Kuwait…there’s no reason IMO they should be lower than Kuwait.  So I think it’ll get up there.

BGG ~ I disagree with this “interpretation”… for context, here is a reprint of the actual LA Times article from 1994. Here is actually what happened with the Kuwaiti Dinar, no internet hype…

FLASHBACK –  Crush Expected When Kuwaiti Banks Reopen Today

March 24, 1991|From Reuters

KUWAIT CITY, Kuwait — Thousands of Kuwaitis are expected to jam the country’s banks today when they open for the first time since the end of the Iraqi occupation.

Customers will be allowed to withdraw funds and to swap pre-invasion money for a new currency issued to make more than $1 billion in pre-invasion dinars stolen by the Iraqis worthless.

“We expect a rush of people,” said Issam Asousi, an executive with the Bank of Kuwait. He said it could be a chaotic first week because customers have a lot of questions about their accounts.

Kuwaiti banks continued operating during the seven-month Iraqi occupation under managers brought in from Iraq, but they have been closed since the U.S.-led alliance ousted the Iraqi army from Kuwait a month ago.

When the banks reopen today, customers will be able to withdraw up to 4,000 Kuwaiti dinars, equivalent to about $14,000 at pre-invasion exchange rates from their accounts, and to exchange a like amount for foreign currency.

Balances of customers’ accounts will go back to what they were on Aug. 1, a day before the invasion.

Clients will not be able to exchange Iraqi currency issued during the occupation, when Baghdad pegged the rates of the strong Kuwaiti dinar to the far less valuable Iraqi dinar.

The new Kuwaiti money will be exchanged for old at a one-to-one rate.

https://articles.latimes.com/1991-03-24/news/mn-1395_1_kuwaiti-banks

Frank26 – Dinar Guru   ...I would like to believe that it’s true that President Trump has given them the date to stop using the American dollar in the auction and I believe that they have committed to it.

Francis Albert – Dinar Guru   Currency investors here. Take heart. Regardless of what some “Never Dinarians” are writing lately…remember it is easy to argue any point when the fine points are not in the talk. I have studied these “money” matters for many years. And, to that end, anyone who argues that Iraq is not going to somehow, someway, someday go international and raise the value of their currency is simply not looking closely. Do I think It will suddenly pop up to some mythical $3.50 range overnight? Possible, for the Iraqi Dinar has years of history in this territory. So, a reinstatement is possible. If I were a betting chap I would say it comes out at .86 on Forex and makes a speedy dash higher.

Dinar Investor – Jeff  …What this is is a reinstatement.  The phrase “RV”, that phrase “revaluation”, all that was fabricated from this investment.  That phrase never existed.  “Rate change” existed but not “revaluation”.  This is a reinstatement.  That means they have to bring back a former rate.  I’ve studied the value of Iraq’s rate through the last 100 years.  The low side was about $2.80 and the high side was about $4.20.  The point is they’ve never had a $1.00 rate to reinstate… Iraq ‘s currency devalued at $3.22 in about 2004…

Kaperoni – Dinar Guru …nothing has happened politically in the last few months as of yet the new prime minister hasn’t even been sworn in and his cabinet has not been voted on.  In fact it has been scheduled for Monday but there are rumors that they won’t even vote Monday, that many are now making a decision to not endorse the new prime minister and his cabinet. New protests are even anticipated.

Dinar Investor – Jeff  ...Everything is pointing and circling around the rate change including the approval process of their 2020 budget.  Facts are confirming the last step we’re waiting on is the rate change.  Everything in Iraq has been put on standby including the approval process of the but budget.  It’s all waiting on the rate change…Iraq is literally walking in Kuwait’s footsteps time frame wise.  Kuwait changed their rate on March 24th of 1991…

Chattels – Dinar Guru   Article:  “The Presidency of the Council of Representatives confirmed that an extraordinary session will be held next Monday to vote on the booth of Prime Minister-designate Muhammad Tawfiq Allawi.”   Quote:  “The House of Representatives is obliged to hold an extraordinary session next Monday to give confidence to the next government, according to the invitation of the resigned Prime Minister, Adel Abdul-Mahdi,“

Dinar Investor – Jeff   …what is Iraq doing?  Right now they’re telling us they probably believe next Monday they’re going to finish and approve the cabinet and/or the full government.  That would be the new Prime Minister Allawi’s government.