David M. Witty – Dinar Guru    Iraqi Parliament votes for Defense & Interior Ministers’ nominations.  Iraqi Parliament disapproves nominee for Education Minister.   Iraqi Defense, Interior & Justice Ministers take constitutional oaths. 

G-Lin – Dinar Guru   Article:  “The House of Representatives votes on the ministers of defense, interior and justice and ends reading two laws”   Quote:  “…Mr. Najah al-Shammari, Yasin al-Yasiri and Farouk Shwani were sworn in as ministers of defense, interior and justice.”    [“The Defense and Interior Ministers are passed and they took the oath already!! HUGE HUGE HUGE!! They didn’t approve the education minister yet but they are still meeting again tomorrow so finally the two most important ministers are approved! Should be an interesting week ahead of us!“]    I agree…We have waited several years to see this.

Iraq appoints new defense, interior, justice ministers

Baghdad (IraqiNews.com) – The Iraqi parliament approved on Monday three more ministers in Prime Minister Adel Abdul Mahdi’s cabinet following several months of political disputes.

During a parliamentary session, the lawmakers approved Najah al-Shammari as defense minister, Yassin Taha al-Yassri as interior minister and Farouq Amin al-Shawwani as justice minister, Baghdad Today reported.

The three ministers are scheduled to take the oath of office shortly at the parliament.

However, the lawmakers rejected the appointment of Sufana al- Hamdani as education minister.

Former minister of education Shaimaa Al-Hayaali has offered her resignation to Prime Minister Adel Abdul Mahdi last December amid reports that her brother had links with the terrorist Islamic State group.

The parliamentary vote on the vital ministries was delayed several times over political divisions.

Iraqinews.com

MilitiaMan – Dinar Guru   Alak is clearly talking imo about currency carry trade. He needed to do the calculations to get to  a rate that will be stable and steady with a strong interest rate, thus, traders can carry the currency trade…Now lets watch the Proxies go by the way side to usher in the fully seated Ministers and the new Fully seated currency rate Alak has for us at the same time or just after the Ministers sit. The GOI institutes the CBI, yet the CBI is independent. So once Ministers are seated then Alak can talk!!..imo. Sure looks exciting imo…  [post 2 of 2]

BGG ~ Interesting commentary, to be sure… However, note this is a highly speculative opinion ONLY. There is no proof of such a time-line of events.

MilitiaMan – Dinar Guru   Article:  “Interbank Market The Central Bank launched the electronic platform for trading between banks operating in Iraq (FX, Money Market)”  Quote:  “A platform that establishes an organized electronic financial market that opens and facilitates the way for foreign investment in Iraq.”   They signed the Deal with the Indian Firm now the CBI says this… Keep in mind that FX, Money Markets are the largest markets in the world! The CBI has set the stage to go live from the picture I am seeing in all this data they are putting out. [post 1 of 2]

Adam Montana – Dinar Guru   [I came to the conclusion that the tax code is just not clear about this RV situation.  …That’s why some CPAs believe it will be Cap Gains, and others are just as sure it’s Ordinary Income.]    I do still agree with that, and there’s only one way that’s going to change – if/when the IRS gets around to clarifying it, as it relates specifically to the Dinar/this situation.  Unfortunately, they can clarify it pretty quickly… certainly in the same tax year as the RV is announced, and I’m betting it won’t be in our favor.  If at all possible, I would love to claim Cap gains. The unfortunate reality is that we may not have that option, especially after the rules are changed retroactively on us.  I am hoping for the best but prepared and protected against the worst in regards to taxation.

MilitiaMan – Dinar Guru   Article:  “Central Bank Governor: We are proud of Samir Al Nusairi’s book and thank the Association of Banks for its support”   Effectively it looks as though Alak has set the stage to create, if not already implemented the time frame to use the mechanism to turn the auctions off as we know them, as they are ready to correct the large structural imbalances to a position of balance…the tools are in place to raise the balance of the Central Bank

Mountain Goat – Dinar Guru   Article quote:  “…ENTER INTO LEGAL PROBLEMS BECAUSE OF THE BUDGET LAW WHICH THE GOVERNMENT COMMITTED TO COMPLETE AT THE END OF THE 30TH OF THIS MONTH...] More delays have rippling effects downstream. Delays in getting the govt formed out of proxy is now going to delay the budget.      

MilitiaMan – Dinar Guru  Article:  “The Iraqi Trade Bank signs an agreement with the Indian Information Solutions Company”   So they…tell us the Iraq Trade Bank has cut a deal with an Indian Solutions Compnay to provide financial Technology Services to meet requirements of the Bank and other financial institutions in an out of Iraq.  In other words internationally. …the sectors they mention…Oil, Steel, Iron, petrochemicals, fertilizers and dairy operations.  All about supporting the future reconstruction efforts once they lift the value like they told us they would.  imo.

David M. Witty – Dinar Guru    Iraqi MP says plans to discuss completing PM’s cabinet in today’s meeting of Parliament have been postponed since the government has not sent the list of nominees.

G-Lin – Dinar Guru    No completion of the cabinet…I’m not surprised. The entire area is too unstable.

MilitiaMan – Dinar Guru    Article quote:  “The main thing that is achieved is the stability of the exchange rate and the reduction of the gap between the official price of the US dollar and the parallel price, which is a basic objective of the monetary policy and the implementation of the policies of re-confidence in the banking transactions of Iraqi banks with Arab banks”   They are clearly laying out what they are doing in regards to reforms and future actions in regard to the IQD exchange rate.  They are going to cease the auctions as we have noted over the last few days.  They say…that they are to reduce the gap between the official price of the Dollar and the parallel price…imo.

Adam Montana – Dinar Guru    BUT, did something major happen? YES. That’s where we seem to be right now.  This is the time of year that many major milestones have been reached in Iraq.   NOW is the time I’m expecting to see something major… maybe HCL, maybe something else, and very possibly a rate change. The tension is growing, and it shows in many ways…like how your animals know a storm is coming, when the weather person said “10% chance of rain”, and then the neighbors barn and cows get taken away in a tornado. Fido knew.  Did you listen? …Bring on the twisters!   [post 2 of 2]

Adam Montana – Dinar Guru    If you were around the Dinar world before Chapter 7 was lifted, an event that was arguably one of the most important events related to Iraq in recent history, you’ll remember that things got VERY exciting before that happened. It was not a guarantee that Chapter 7 would get lifted…in fact, it was questionable if it would actually happen, and very much a surprise to many.  Even without absolute confirmation of this very important event that was about to transpire, and even though many of the news stations and media and all of the people “in the know” didn’t give a warning… the dinar world had a “feeling” that something was about to happen…Did we have an RV at that time? Obviously not. And nobody cashed in…at least, not at the $3+ rate. [post 1 of 2]

Mountain Goat – Dinar Guru   The new coins have not yet been allowed into circulation but we know there are to be new coins and they are stamped and waiting at the banks for use them, but not yet.  We should expect yet more news about these new denominations and coins. This is all VERY good news…We should be jumping up and down and getting our champagne chilled. Again I say let’s look for the 50 and 100 dinar notes to come out along with the coins. This will be our sign they are about to reinstate the currency back to the global exchanges for public trading.   [post 2 of 2]

Mountain Goat – Dinar Guru   Article:  “DANNAIR PUBLISHES THE FEATURES OF THE NEW IRAQI CURRENCY AFTER THE DELETION OF ZEROS”   So the new smaller notes of 5, 10 and 25 are replacing the 3 zero notes of 5,000, 10,000 and 25,000 accordingly. This is a 1:1 RV in Iraq. I said within Iraq, did you hear me? In addition they are also issuing a 50, 100, 200 dinar notes of smaller category. Remember they already issued the 50 notes way back in 2015 in the anticipation the reinstatement was going in January of 2016.   [post 1 of 2]

Mountain Goat – Dinar Guru   7. And….of course there is much more at stake now with getting an honest non-Iranian selected for the Interior and Security ministers.   8. They already moved the dates from 2018-2022 to 2019-2023 for the term of this project. So, half a year is already shot with no substantial investors willing to lay their cash on the line due to these reasons…  THEY NEED A VIABLE CURRENCY TO MOVE FORWARD!   Investors want a value assigned to the currency that they can deal with and prosper from. A realistic value and nothing more or less.  It’s coming and it has to come soon!  [post 3 of 3]

Mountain Goat – Dinar Guru   4. Just recently parliament passed the “Financial Management Law” which is the support by the GOI that is needed for the project to be successful… 5. Sadr is putting great pressure on getting the remaining ministers out of proxy and qualified (non-Iranian) candidates ratified by parliament. This is scheduled again for a vote on Saturday…They are at the end of the line. After this Saturday June 22nd there is only a week remaining in June…   6. We now know the end of this currency legislative session and it ends the end of June. We know that Mahdi must form his government with the remaining positions by then or else be subjected to a no-confidence vote. [post 2 of 3]

Mountain Goat – Dinar Guru    Are they now prepared to pull the final trigger and bring this project to a conclusion?  1. They just told us again the CBI was successful in the reduction of cash on the streets. They just told us they got the 140 trillion dinars from 2011 down now to 39 trillion.  2. We know they have been stocking the banks with the new coins and infusing yet more of the small category notes out in the ATMs and banks (250, 500 and 1000). Just recently they issued the 50 dinar note back. WOW! The banks also have the 100 dinar notes but we have not yet seen them on the streets or ATMs.  3. We know that certain Iranian factions within the government appose the project to delete the zeros and have helped to block in the past any way they can.  [post 1 of 3]

Adam Montana – Dinar Guru   [Recent CBI articles suggest a RV at $.87 cents. Could this be a sucker rate with huge increases to follow?]   “Sucker rate” is a bit of a mean spirited phrase, but there is certainly merit to the possibility that a rate will come out low and rise initially. 

Delta – Dinar Guru   URGENT FROM IRAQI TV:  “ANTI CORRUPTION HOSTS CBI GOV AND TAKES ACTION ON THE CURRENCY AUCTION...”  IT’S ALL OVER THE NEWS …THEY GOT SLAP BY SISTANI… SHOW US THE RATE…NOW...

Chattels – Dinar Guru  Article quote:  “stabilized at the exchange rate of the US dollar against the Iraqi dinar. The market price in the Kifah Stock Exchange in Baghdad was 1201 dinars per dollar, ie 120 thousand and 100 dinars per hundred dollars.”

Mountain Goat – Dinar Guru   It really looks like we are now on a full force to getting the reinstatement completed sometime in June. Really?  Could this really happen? With all the news we are now hearing a new timeline CBI target has been identified and it is showing the target by the end of June. Let’s all pray that this is our last timeline ever.

This is a personal opinion (highly speculative). There have been no such official “targets” identified by the CBI or the GOI.

Sandyf – Dinar Guru   [wonder if they even have filed for article 8 and just waiting approval.]  It has nothing to do with approval. For the last 40 years or so the IMF have been actively pushing countries to acceptthe obligations of Art 8.  As far as I am aware there are still about 17 countries under Article 14, Iraq being one of them.

Breitling – Dinar Guru   It is black and white.  The American economy vs the Middle East and Russia’s economy.  When the energy prices are high those countries do good.  When the energy prices are high in America the United States economy slows down.  Remember energy moves matter.  It’s always been like that.  The economy goes down when the oil prices are up. And when the oil prices go down our economy just goes through the roof.

Frank26 – Dinar Guru   The Reinstatement is inevitable… Somewhere around the 30th…“All systems Go”.   There’s a different monetary policy?  Who says?  The Finanacial Management Law [FML].  There’s a new math?  Who says?  The FML.  There’s a new rate?  Who says?  The FML.  There is no delay. What is the Financial Management Law?  It’s for the change in the national monetary policy and to raise the value of the Iraqi Dinar against other foreign currencies in order to control the auctions that have been a source of corruption for many others especially Maliki and his sources in Iran…IMO.

Breitling – Dinar Guru   …I don’t see anything to worry about.  In the worst case scenario they could still add value to their currency because it’s so manipulated.  It’s almost a crime because…the people at the top are making money with the U.S. dollar.  The people at the bottom are using the Iraqi dinar.  Who has the power there?  So you understand the power structure in Iraq.  It’s that simple.  A lot of you would say, ‘Why would someone change that?  Why do we have their currency?’  Because they have no intent to keep it like that.  They’ve said it over and over again.  In fact the Financial Management Bill is proof of all that…what they need to do is build a permanent structure so they can have full blown trade.  The reason why the US is wealthy is because we’ve opened up all the trade routes on the planet…for Iraq to do that they need to add value to their currency.  That is their ultimate goal.  But it’s tough doing.  You just don’t get into it…I have complete confidence.

Breitling – Dinar Guru    …the worst case scenario…we attack Iran and it spills a little bit over into Iraq.  Iraq is the proxy between Iran and Saudi Arabia…The Iraqi dinar has been so manipulated and it’s so far down that they could still add value to it.  They could add 10 cents to it…20 cents to it and no one would blink.  It would be a huge positive thing for the economy.  It would be no threat at all…I don’t see an apocalyptic threat to the Iraqi dinar in this situation.  [Post 3 of 3]

Breitling – Dinar Guru   …I don’t see anything to worry about.  In the worst case scenario they could still add value to their currency because it’s so manipulated.  It’s almost a crime because…the people at the top are making money with the U.S. dollar.  The people at the bottom are using the Iraqi dinar.  Who has the power there?  So you understand the power structure in Iraq.  It’s that simple.  A lot of you would say, ‘Why would someone change that?  Why do we have their currency?’  Because they have no intent to keep it like that.  They’ve said it over and over again.  In fact the Financial Management Bill is proof of all that…what they need to do is build a permanent structure so they can have full blown trade.  The reason why the US is wealthy is because we’ve opened up all the trade routes on the planet…for Iraq to do that they need to add value to their currency.  That is their ultimate goal.  But it’s tough doing.  You just don’t get into it…I have complete confidence.

Breitling – Dinar Guru    …the worst case scenario…we attack Iran and it spills a little bit over into Iraq.  Iraq is the proxy between Iran and Saudi Arabia…The Iraqi dinar has been so manipulated and it’s so far down that they could still add value to it.  They could add 10 cents to it…20 cents to it and no one would blink.  It would be a huge positive thing for the economy.  It would be no threat at all…I don’t see an apocalyptic threat to the Iraqi dinar in this situation.  [Post 3 of 3]