MilitiaMan – Dinar Guru   6) they have a conference for investors scheduled in February and they will need the rate prior to that or it will FAIL!!!  It will be a massive boon for them or a huge screw up as I see it. That is imo not going to happen, as they have come way to far as the laundry list is clearly showing me that they are working to get this done ASAP.  There are contracts that need to be sorted within the next few days and that too adds gas to the fire!!   Let’s not forget the Kurds just got what the wanted and then some and Mahdi is talking to the Radio and Media today.. – Imo – so let’s see how things play out…   [post 2 of 2]

MilitiaMan – Dinar Guru   This next week is critical for us in that there is evidence as I see that is clear to me that this process of implementation of MR is full throttle now to be completed and for many reasons.  1) the banks are linked globally and wire transferring money and in IQD is a reality.  2) Security and stability as noted by the green zone and the barriers around the CBI.  3) they appear to have printed $238+- mil in new currency.  4) EY, PWC and KPMG were in Alaks office last Sunday.  5) the 2019 budget is passed by 278 people into late night early morning the other day and now being calculated by the CBI, and most likely signed by the President and off to the Gazette shortly if not already.    [post 1 of 2]

Mountain Goat – Dinar Guru   Article:  “Prime Minister Adel Abdul Mahdi, on Tuesday, the unification of customs tariffs and full control of all border crossings of the country”   we have been told many years ago that the customs and tariffs revenue for Iraq could rival the oil revenue if it could be unified and fully controlled. So this article…says they have done it. But remember in order to determine the amount of billing they need to be able to convert the foreign currency to equivalent dinar and they can’t do that unless the dinar is on the global currency exchanges. We know they have integrated already with a global import/export system. So is this the next step coming soon to complete the project?

Frank26 – Dinar Guru     IMO…this ride is just about over with starting today.  Trump reopened the US Gov for the RV….to get it done…Iraq needed this time to release it 1-3 weeks…They approved their budget for the first time in over 14 years on Tuesday…

Mountain Goat – Dinar Guru   We still have 6 days remaining and I am still being told that the CBI has planned to complete the reinstatement sometime prior to the end of the month.  We know that deep state operatives in the US government are keeping the Iraqi dinar from moving to an international status and being reinstated back on the global currency exchanges. …This is intentional, so as not to let the Trump administration hold a huge economic boom for America. This would be a huge political win for him. Yes, I do now believe it is being intentionally held back at the detriment of Iraq.  I can not give another timeline for a window for the reinstatement until this ongoing political battle (nightmare) is over in Washington, DC or at least settles down. I really thought that last Saturday was a hopeful time and we would have been at the banks this week already. But this did not happen.

Adam Montana – Dinar Guru   […I think I got into this back in 06. What has change since then, that you think we are getting close..Now granted they are finally have a little bit of infrastructure, but to today’s standards is pretty much third world…]    You are correct, things are still pretty much third world over there… but no more so than when their currency was 3X the USD.  We’re on the right track.   

Adam Montana – Dinar Guru   [When the  RV happens, and we decide to just chance it a take a few notes to a bank to exchange (for quick income) how long do you think the turn around time will be. Hours, days, weeks?…]   Most likely, there will be a few windows. First is going to be the actual RV. We are going to know about that within hours, and there will likely be a lot of confusion. There will be a ton of misinformation flying around, 800 number scams, and all kinds of traps…I don’t expect all banks to be operating at the same speed, so we may have locations for exchange on Day 1 in Houston, Los Angeles, and New York* (these are examples, NOT ACTUAL EXPECTED LOCATIONS). By Day 2 we may see operations in ten more cities, and it could be a full week before ALL locations with De La Rue machines actively exchanging.  So that window right there is, by itself, “hours to days”…

BGG ~ Adam is clearly speaking in the hypothetical – NOT THE LITERAL, meaning today or implying SOON – he’s saying “when” this were to happen, these are the things to expect.

Whitelions – Dinar Guru   …do you think that all those bills will go flooding back into the CBI once they raise the value?  …the bank you take it to and answers where all that money is going to go at that time they will hold on to (they have 10 years ) to see if they can get a better rate but at the same time the CBI can call it in…all you have to do is look up international banking laws and procedures to know…[so I am going to take 20 million dinar..to chase bank…and they are going to give me 60 million US Dollar]    yes you are thinking in the middle to poor income frame of mind…Billions of dollars is transferred every day in the world this is no different…my take is it will rise in value we will all cash in and move on with our lives.

RVAlready – Dinar Guru    Iraq getting budget passed got a huge amount of press coverage… Now we just need rate announcement from CBI.

Whitelions – Dinar Guru  The only thing the budget being passed shows us is that the GOV can work and get things done , The money inside the budget will adjust it always has and always work that way .   [is this going to float? Are they being (forced) into it?]   an MP said that the CBI said NO FLOAT…so just because an MP said it dose not make it so but on the other hand if the CBI said NO FLOAT thats a biggie.

Delta – Dinar Guru   Article:  “Iraqi customs duties and import taxes to be enforced”   CITIZENS WILL NOT SEE THE CHANGE ON PRICES RIGHT AWAY IT WILL TAKE AT LEAST A MONTH OR SO TO REFLECT THE INCREASE ON THE MARKET…. BY THEN IT WILL BE HISTORY  (wink) imo.

Breitling – Dinar Guru   Question: “Is the bank going to require anything from us upon a deposit exchange even when it’s millions or so?”  No…the bank is not the IRS.  The next step is the IRS.  Figure out…what it’s going to revalue at.  It might come in stages.   What if the dinar comes in at 10 cents at first?  It all depends on you.  I’m not even going to speculate on what you should do.  I get emails all the time asking “what if it comes in at 10 cents how much should I cash in?”  I’m not going to answer those types of questions.  There’s no way for me to know.  It’s up to you.  But what you need to worry about is how you’re going to be taxed…I think you’re going to be fine.  There’s a process to go through if it ends up being a lot of money.  Remember you’ll give the money to the bank and you’ll get a receipt.  It won’t be like a regular receipt it will be like a certification and then the money will go to the treasury and they are going to certify it and then once it’s certified that money is going to go into your bank account.  They are not going to give you a bunch of cash…that’s never going to happen.

Adam Montana – Dinar Guru    When you look at the big picture, 15 years is a tiny window. It’s a blip in history, and if you zoom out far enough, you barely even notice it on the timeline.  …Back to the current situation – it was only a couple weeks ago that we were talking about oil looking for $60 as a benchmark. We are hovering just above $50, but looking at the charts gives me a pretty nice feeling. …it stands to reason that we’re going to see a bit of ping-pong in the news.  The Budget is one such ping pong item, with the following encouraging bit: There seems to be an agreement on what the Kurds will be getting, and it’s a bit higher than what they were arguing about a few years ago. The fact that Baghdad is raising the ante for the Kurds could easily be telling us that they are getting a little looser with their wallets. If they were headed for a LOP,  would they do that? I don’t think so!   [post 3 of 3]

Adam Montana – Dinar Guru    Imagine the history books, as written 100 years from now. “In 2003, the country of Iraq went backwards. Their currency (IQD)  plummeted from 3X the value of the USD to mere pennies on the dollar. Their government and political system was in shambles and they were under extreme scrutiny from the outside world, the United Nations, and more. Despite these setbacks and challenges, the people of Iraq were determined to regain their former position in the world. With some deft political moves and shrewd business practices, Iraq revalued their currency in the year 2019. It was a move that shocked the markets but also stimulated the global economy… ”    [post 2 of 3]

Adam Montana – Dinar Guru   The landscape in Iraq is changing faster than ever these last few weeks.  I’m still placing a lot of weight on the overall oil situation, which should not come as a surprise.  HCL is about oil. Iraq’s wealth is backed by oil. Iraq’s history as a wealthy nation is OIL.  Iraq still has… oil.   It’s only the last decade or so that Iraq has not been a wealthy nation, and it’s my firm belief that they will return to that prosperity.  They have been working their way back for some time now, and 15 years may seem like a long time to some, but let’s take a look at the bigger picture… [post 1 of 3]

Iraq parliament approves budget based on oil exports of 3.88 mln bpd

BAGHDAD, Jan 24 (Reuters) – Iraq’s parliament approved a budget for 2019 of 133 trillion dinars ($112 billion), based on projected oil exports of 3.88 million barrels per day at a price of $56, lawmakers said on Thursday.

The budget included payment of salaries for Kurdish Peshmerga, the military force for Iraq’s semi-autonomous Kurdish region. (Reporting by Ahmed Rasheed, writing by John Davison; Editing by Lisa Shumaker)

Reuters.com

Mountain Goat – Dinar Guru   THE NEWS ON THE IRAQI DINAR REINSTATEMENT:  There is some good news as I know the CBI desperately wants to move ahead with this process but is being held back. Over this past weekend we had a situation when the CBI wanted to reinstate and tried to pull the trigger. It was unsuccessful. Some ask me how did I know since no one knows a date or a firm rate. …I did not know a date or a rate until AFTER the fact. How could I? I just happened to have called my CBI contact to get an update and this is what I was told. Are they lying to me? …maybe …but I don’t think so. The very good news is the CBI still has plans for the month of January and we still have 9 days remaining…

Kaperoni – Dinar Guru   From what I am reading today it sounds like parliament passed the budget today at the 7pm session.  Need more confirmation but looks like good news.

Breitling – Dinar Guru  …the price per barrel has gone down a lot faster than what they anticipated.  And the United States is taking over the world market faster than anticipated…remember their [Iraq’s] bottom line is $54-$55 per barrel Brent Price…What happens to their country when they need more?  Guess what that goalpost moves and they are going to need more money…Article “U.S. could soon pump more crude than Saudis can at their peak”…we are moving a lot faster than we thought we were going to…this should make you happy.  That’s good news.  That’s super good news…that’s what I love about the information coming out of the oil industry.  Because it means everything for us.  You should be very very happy.

MilitiaMan – Dinar Guru   Article:  “Abdul Mahdi “comfortable” for his long stay on the head of the interior and defense .. Sadr does not mind”  This is very good news…Now that that is effectively settled imo, the next move is the rate announcement before the budget…??   hmm we shall see and possibly before they vote on Wednesday or Thursday. Gotta vote on what it is in it right?  So now that he (Mahdi)  has Sadr on the deck allowing Mahdi to head the Interior and Defense, he can now focus on the announcement of not only his first 100 days but, what the citizens want to hear about the CBI the future of their new money…imo…We shall see…That is not something to take lightly… We know Mahdi can make the Art 8 announcement and it would be a very appropriate time to do so…imo.. Let see how it rolls. But, with the Interior and Defense out of the way nothing left but the Art 8, rate for the budget that the Big  3 Firms most likely approved of Sunday.. imo..

Mountain Goat – Dinar Guru   …The CBI has told us in multiple articles that the 3 zero notes would be used later (after the event) almost exclusively for inter-banking transactions for trading. Later these larger notes are NOT meant to be in the publics hands thus 10 ten years to get all of them (the remaining 2/3 out of circulation). So you as an owner of these larger notes, when you do to the bank, the banks will want these dinars since they will be VERY valuable. When we exchange our dinars, we are acting as we are bankers not ordinary Iraqi citizens. This is the key to understanding this exchange process and just because it is so different than other forms of re-denominations… [post 3 of 3] 

Mountain Goat – Dinar Guru   …How can banks then differentiate the rate to the different notes? They can’t and so a dinar is a dinar. Example: So let’s say you took a newer category note of 1 dinar to the bank and exchanged it after the reinstatement. The new rate is 1: 3 meaning 1 IQD is worth $3 USD. You would get $3 USD. Then if you took an older 25,000 dinar note to the same bank they would have to apply the same FOREX rate of 1: 3 to this note too. They will not be able to differentiate. Get it? Thus you would get $75,000 USD in exchange. So yes, the currency you hold would be much stronger.   [post 2 of 3]

Mountain Goat – Dinar Guru   [Will by deleting the zeros it makes the currency stronger , therefore making our investment more valuable?]  Yes, by deleting the ZEROS this will make the currency stronger thus also our investment. On the surface it looks like your 1,000 dinar note would only become worth only 1 dinar. But what most forget or don’t know is that the two currencies will “coincide” together for up to 10 years. That means the older 3 zero notes and the newer lower category notes will both be in circulation at the same time.  [post 1 of 3]

David M. Witty – Dinar Guru    Iraqi Speaker of Parliament says next meeting will hold vote to complete cabinet formation & vote on 2019 national budget.

RVAlready – Dinar Guru At the moment, I can see no reason to delay the RV, and lots of reasons to go ahead immediately. After all, everyone says they are ready, so they should do it right now.

Mountain Goat – Dinar Guru …the reinstatement of the Iraqi dinar should have taken place over the weekend and was held up again due to NSA security reasons.  I have talked to my CBI contact and I am told that they are getting tired of this postponement and really need this currency to move ahead with the reconstruction phase. They are already a year late in their five year plan 2018-2022. The good news is there is still 10 days remaining in January and this month is the best opportunity for the CBI to do it for accounting reasons. Their fiscal accounting year coincides with the calendar new year unlike the western world that begins on Oct 1st.

MilitiaMan – Dinar Guru   We just watched a few of the largest firms in the world have a meeting with Alak today. All in the same room. …Iraq is ready and they had to get on the same page for whats coming now, as it will be different than before. imo..  The meeting with those who dot the I’s and cross the T’s were at the central bank today and word is there was cargo leaving the banks at night.. Makes one wonder at this present time why? Don’t forget, the central bank issues cash… all imo.

Mountain Goat – Dinar Guru   [Is the CBI saying replacing the larger 3 zero notes with new currency?]   If they remove three zeros the IQD it will be replaced by a new lower category currency thus when the CBI reinstates the currency they will have to raise the rate. But they do not need to get all the 3 zeros notes changed over. In fact the plan does not call for all of them either. Once the reinstatement occurs they told us it will take up to 10 years to get all these 3 zero notes out of circulation. So the reinstatement is also pivotal in this process.

Frank26 – Dinar Guru  Article:  “The supervisory and auditing bodies meet in the Central Bank of Iraq” Quote:   “a meeting of the bank held today under the chairmanship of the Governor, and the presence of the President of the Office of Financial Supervision, the head of the board of Securities, and the captain of accountants and auditors, and Vice-President of the Iraqi Association of Certified Public Accountants, and representatives of international audit firms (KPMG, Ernst & Young, Price Waterhouse Coopers).”   INTER ………….. NA ……………….TION …………… AL !!!

MilitiaMan – Dinar Guru   Article:  “The supervisory and auditing bodies meet in the Central Bank of Iraq” Quote:   “a meeting of the bank held today under the chairmanship of the Governor, and the presence of the President of the Office of Financial Supervision, the head of the board of Securities, and the captain of accountants and auditors, and Vice-President of the Iraqi Association of Certified Public Accountants, and representatives of international audit firms (KPMG, Ernst & Young, Price waterhouse Coopers).” Alak is sitting at the head of the table and has everyone’s attention…The attention of three of the largest firms in their line of work in the World. They will need to coordinate with each other from here on out.  We should all be smiling about now with the timing of the meeting.  The numbers not only on the new notes will have to be accounted for and well managed  just as contracts will be when during and after the (RD/RI/RV)  process of completion of the Monetary Reform and the re construction of the country…IMO.