Mountain Goat

Mountain Goat – Dinar Guru   So Thursday came and went and still no vote on the remaining two last ministers…the minister of interior and defense… But negotiations are now underway.  …President Barham Saleh confirmed the completion of the government formation in accordance with the constitution.  We know that Iraq had until Dec 4th to meet the constitutional deadline to form the government. But what about the other 2 ministers for Mahdi’s cabinet? So this news from Saleh is not entirely accurate. But technically they can say it is since Mahdi just uses the “proxy” excuse and assumes the interior and defense ministers himself.

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MilitiaMan

MilitiaMan – Dinar Guru  “Live Iraqi Dinar (IQD) Exchange Rates…USD IQD   1190.00027  Dollars to Iraqi Dinar”   More progress and or fine tuning the line up. 5 digitis then 6? We shall see. What I would like to see is some small polymer notes and some fils… IMO to go along side those digits right of the decimal and a nice healthy number the the left.

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MilitiaMan

MilitiaMan – Dinar Guru   Reporting or pairing is now in line for the list of currencies. Sort of additional education that is completed, imo. Those that will be needing to know can see the 4 digits to the right of the decimal.  Place the international calculation in and easy math. imo One more indicator the process is underway...

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Breitling

Breitling – Dinar Guru    Article: “Iraq denies report on Trump requesting oil for return for Baghdad war”  …I’ll tell you what’s going on.  This is not something you’ll read in the articles.  We are trying to do deals with oil markets with Iraq but it’s completely separate from what this is talking about…we know what Iraq needs to survive and we’re offering them a way out so that they’re in our camp.  

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Adam Montana

Adam Montana – Dinar Guru   Holding pattern on HCL. This is going to break soon. I’m watching it like a hawk and can’t WAIT for this to turn!  It is going to be in our favor. I’m betting big on this.

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Breitling

Breitling – Dinar Guru    …the price per barrel is going down So what do they [Iraq] do?  They can do what you and I are speculating on and add value to their currency but there are other stuff also.  Iraq wants to compete in the American markets.  We can do trade deals with them.  So that’s why Iraq shut the door on Iran because they’re looking for the same type of deal that Saudi Arabia had.  So now we have them in our pocket. 

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David M. Witty

David M. Witty – Dinar Guru   Iraqi Parliament to meet today but not expected to vote on unfilled cabinet positions.

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Kaperoni

Kaperoni – Dinar Guru  The launch of “golden opportunity” summit with 50 international companies has begun in Iraq.

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Mountain Goat

Mountain Goat – Dinar Guru   Article:  “A “GOLDEN OPPORTUNITY” FOR IRAQI RECONSTRUCTION”   Quote:  “…WILL OPEN THE WAY FOR PRESENTING LARGE RECONSTRUCTION OPPORTUNITIES TO INVESTMENT COMPANIES…”  Oh – yet another investment conference. …There are still 111 bills carried over form the last parliament that need to be addresses. Many of these bills relieve the barriers in doing business within Iraq. So they can have all of these investment conferences they want but until they get these bills passed they are still going nowhere. Too bad they just can’t seem to work together to get this country moving forward. We can appreciate all that Hader al-Abadi did and so let’s not cut him short on his accomplishments.

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Mountain Goat

Mountain Goat – Dinar Guru   I agree with Kap in that the CBI has told us this is a 3 year process. So we are now at the end of this process. In fact if we get out of this year we have passed it.  But remember the CBI just can’t trigger the event in a day and expect to transition the currency over that same day. It takes time and there are mechanisms to put in place over months if not years. One such mechanism was “electronic banking”. Another we can clearly see was the ATMs. In March-Oct we witnessed yet another the effort to get the people over to using the lower category notes. But this third mechanism only works because these other two mechanisms were already in place. If you are studying this process to delete the zeros you can clearly see the progression of what the CBI is doing to get them to the reinstatement time frame.

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Kirk H. Sowell

Kirk H. Sowell – Noted Author  So they managed quorum after all, with 168 MPs, parliament is meeting. But quorum is 165 so that’s a very narrow margin of error if they try to hold a vote, just four could walk out and break quorum.

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David M. Witty

David M. Witty – Dinar Guru   Iraqi Parliament delays vote on unfilled cabinet positions.  Iraqi Parliament meeting to approve unfilled cabinet positions ends in chaos & shouting among political blocs.

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Kaperoni

Kaperoni – Dinar Guru   [And The reason why the IMF  is still preventing Iraq to become ARTICLE VIII?]   They are in compliance now but have not had their 2018 Article IV Consultation yet because the government has not been officially formed. Though not a requirement, I do expect this consultation to occur before any move to Article VIII.

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Sandyf

Sandyf – Dinar Guru  …Although what Kaperoni says is perfectly valid I would not agree. Floating the currency would not be a normal course of action for an emerging economy. Egypt was pushed into a float and look what happened…I doubt if that is what people want to see.  It is not only emerging economies at risk, the Russian Rouble became fully convertible in 2006 but avoided the risk of floating until 2014, again a significant drop in currency value. …I for one would hope that Iraq does not face similar problems.

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Kirk H. Sowell

Kirk H. Sowell – Noted Author   So today may be a big day in #Iraq politics, with parliament scheduled to meet…with completing the cabinet of PM Adil Abd al-Mahdi on the agenda. Or maybe it will wimper & fail to make quorum, or just skip the cabinet votes & be nothing.

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Kaperoni

Kaperoni – Dinar Guru  Looks like PM Mahdi will present the rest of his cabinet at tomorrow’s parliament session.

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MilitiaMan

MilitiaMan – Dinar Guru   “Baghdad calls on Washington to cooperate in activating the terms of the Strategic Framework Agreement”  …the SFA…is a check list that has been a work in progress since 01/01/2009 and is still imo in effect, as noted above and will continue. The items show us that they have completed many many things and we just…yesterday indicators of direct investment…, yesterdays Tweet by Mahdi about Visas and…on Passports. If the item is in the SFA and being openly talked about now, is a good sign things are coming together very quickly now.  Well the SFA is about implementation of reforms.. Very, very, very good timing and it all looks like they are now asking to be released to fly with the new categories.  Some suggest they got the go ahead 12/02/2018. We shall see.

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Stryker

Stryker – Dinar Guru   The time has finally come for the CBI and GOI to deleting the zeros but will they do it?  (economic and political stability = 2019 Budget) 

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Mountain Goat

Mountain Goat – Dinar Guru  Article:  “THE FUTURE OF THE IRAQI DINAR”   So here we go…This article is more explanation of the process to delete the zeros. This is part of the re-education process that had to take place prior to the EARLY 2019 reinstatement occurring. So here we have yet more evidence the CBI is finally doing this education campaign.

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ChrisC

ChrisC – Dinar Guru “Iraqi Dinar Exchange Worldwide 4:00 AM Baghdad Time” US Dollar

1 USD = 1,191.0000 Iraqi Dinar
1 Iraqi Dinar = 0.0008 USD

I have been watching this and not saying anything for several days, but why is everyone so worked up over decimal points?   If we are going to the left, the 190 will occupy the three decimal places for the fils. Not sure what seeing three zeros the other way does for us. Actually makes me a touch nervous.

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Kaperoni

Kaperoni – Dinar Guru  Iraq is not in IMF Article VIII as of yet.  Believe me when i say this…when Iraq changes the exchange rate regime and moves to Article VIII you will hear it from me first.

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David M. Witty

David M. Witty – Dinar Guru   In Iraq, PM Abdel-Mahdi looking at names of 28 candidates for Defense Minister, among them former Speaker of Parliament Jabouri.

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Kaperoni

Kaperoni – Dinar Guru  Investors will do business with Iraq no matter what the exchange rate is as long as the CBI is an Article VIII. The key is that firms that invest in Iraq are able to get their profits out.

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Kaperoni

Kaperoni – Dinar Guru   [Isn’t article 8 the reinstatement of their currency on to international trading platforms?]   No.  It is a standard of banking practice.  The dinar is international now, just most if not all banks choose not to trade or do business with until that standard is met.

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MilitiaMan

MilitiaMan – Dinar Guru  Article:  “260+ attend IBBC Iraq Reconstruction Conference”  Quote:  “IBBC welcomed 260+ delegates to Dubai to discuss ‘Iraq – Reconstruction & Rebuilding, how to deliver Vision’ with expert Industry, Government and International Organisations on 25th November” …This is all about past tense as it is over now, as it is what was talked about, what was accomplished and with HUGE names involved.. This just shows GO TIME is upon us. IMHO.

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Mountain Goat

Mountain Goat – Dinar Guru   Is the Iraqi currency International?    …let me debunk this rumor once again about any VISA or MASTER CARD going international and issued from an Iraqi bank.  First, I will once again define what it means for a currency to be international:  1)  for the IMF must recognize the currency under Article 8 of the UN member charter;  2) the currency MUST be tradable throughout the world not just in one area of the globe;  3)the currency, because it is recognized and traded around the globe, it is listed on the currency exchanges, where it is freely traded. Does it meet all of these conditions? Of course not…So these Iraqi cards are NOT yet really international yet. At least not yet. But they do have this capability for the future. 

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Kaperoni

Kaperoni – Dinar Guru   ‏ […they have already reduced the money supply.]  ...Wrong!  This has not happened.  If it did the auctions would be out of balance.  As said last week from the CBI over 40 trillion is outside of the banks.  Only when the dinar begins to rise gradually can the money supply be reduced…  

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MilitiaMan

MilitiaMan – Dinar Guru   Article:  “The future of the Iraqi currency!”  Quote: “It is possible that the value of the Iraqi currency against the US dollar, for example, that the employee who receives 1200 thousand dinars at the exchange rate 1200, the purchasing power of $ 1000 dollars and if the strengthening of the dinar equivalent to 500 dinars to the dollar will be purchasing power $ 2400 instead of $ 1000.”  What a GEM this is…All those relationships about the FILS make me smile! Stock Exchange = Fils, Receipt with Fils, CBI = Fils and now this! No denial!

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Mountain Goat

Mountain Goat – Dinar Guru   So I would not use this “alleged” past corruption at the CBI for any reason to hold up the reinstatement now. This is moving forward. From all my findings the hold up, if any, would be procedure and executing the mechanisms needed to bring this about. If I were you, I would watch for late December or early January for a reinstatement to occur. Again we are fast approaching that window. Remember in ALL the past recorded, legitimate, possible times to complete the project to delete the zeros and then lead to a reinstatement, it was for the late Dec and early Jan time frames…The Iraqi fiscal financial year begins Jan 1st.

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Dinar News Update

Dinar News Update  [CBI Updated again today] After a fourteen day delay, the CBI reported the market rate for the Iraqi Dinar from November 14th to the 27th [They updated again today – the 28th also]…something is different.  Starting on the 14th they began reporting the Dollar Exchange Rate / in IRAQ Markets Previously the market rate was reported in the Baghdad Markets.  You’ll also notice the Official Market Rate listed in the left column of this page now contains 3 decimal places…the previously reported rate did not contain decimal places.  Today’s 1194.197 reported market rate is the strongest the market rate has been in nearly 2 years.

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