Phillyman – Dinar Guru   Article quote:  “…the Prime Minister Adel Abdul Mahdi, told President Barham Saleh that he would resign if the auction continues to sell ministries between the political blocs in his government.”   Is the article true, accurate?  Madhi certainly has his hands full.  Who knows by the time you read this maybe all the positions will be filled with moderate, honest politicians.  Of course the biq question everyone wants answered is when will the IQD move from its current level.  Can we finally agree that no one knows or will know?  Does the state of politics even impact that decision?  The only person I listen to that makes sense to me is [Guru] Breitling.  You won’t find an answer to the date question…but you may feel a little better about your investment in Iraq.  As insane as this country looks for investment to many I still believe.

Mountain Goat – Dinar Guru   Article:  “PARLIAMENT MEETING HELD ON MONDAY, MONETARY POLICY IN THE PRESENCE OF THE GOVERNOR OF THE CENTRAL BANK OF IRAQ ALI ALAK”  So we can see the seeds have been sown and many of the newer members of parliament do want the CBI to move ahead with the currency reform. Will the CBI now do it after this meeting with parliament? All the financial news is the best it has been since 2012-2013.

Kaperoni – Dinar Guru   There is no RV or RI…if the dinar appreciates in value it will not happen overnight.  That being said, monetary policy will need to change to accommodate investment and that means they will need to float the dinar.   Floating the dinar allows the CBI to gradually raise the value to counter inflationary pressure created by an influx of investment.  A float can start anytime, but i do not see it rising to equal a dollar for several months if not longer.

Mountian Goat – Dinar Guru   We know that the new asset backed currency rate calculation system introduced in 2012-2013 is generating periodic rates for many of these underdeveloped countries.These rates are pushed down to the banks through this system. Yes, these are real rates but they are not yet implemented. So why does the Iranian Rial all of a sudden show up again with a rate of about $3.90. WOW! This is remember all calculated based on assets and bumped around with neighboring middle eastern countries. This does NOT mean these rate are imminent or will show up LIVE today or tomorrow

Mountain Goat – Dinar Guru   For only 2 reasons – a. continuance of corruptive banking practices (greed) and corruption and  b. political will to execute the “project to delete the zeros”. Again these same politicians are making a…load of money off these fake banks. This is why Dr Shabibi realized the necessity to end these auctions as soon as possible. But the corruption during the Nori al-Maliki administration put a dead stop to this effort. This was the closest the CBI ever got to completing this project to delete the zeros. It has been an uphill battle ever since to do it.   [post 2 of 3]

Mountain Goat – Dinar Guru Article:  “IRAN, FEELING SANCTIONS BITE, LOOKS FOR OUTLET IN IRAQ”   So what do we know?  We know that the US does not want Iraq to use USD to trade with Iran. I have always said these Iraqi currency auctions are now just funneling more money to the terrorist in USD and were set up initially to do just the opposite. So why even continue them then? They are part of the problem.  How can this be since they forced Iraq in the past under the sanctions to use only USD thru converting dinar to US dollars thru these currency auctions. Oh – but these sanctions are now lifted and so why does Iraq continue to use these auctions. Answer:    [post 1 of 3]

RVAlready – Dinar Guru   The budget has nothing to do with RV timing. I do not think anyone plans a CBI investigation. The fact that the budget is already written in 1:1 numbers, should tell you everyone knows what is happening…. I think this is on a timetable. All the public stuff is just smoke and mirrors, as usual.  Remember, this is a new parliament. Allaq reassured them that the MR is going smoothly. He seems to be in control of the MR, and we will see the RV when the date hits. I am hoping the date is this week, or, at the worst, by the end of November.

Mountain Goat – Dinar Goat   Article:  “FORGED DOCUMENTS FROM 3299 CARICATURES ABLE TO WITHDRAW FUNDS FROM CBI”   yet more corruption at the CBI process. These currency auctions must end as they are the source of most of this bank corruption.

Parliament discusses monetary policy and amend the bill of the budget of 2019

​(Baghdad: Al Furat News) The House of Representatives discussed in its 13th session held under the chairmanship of Mr. Mohamed Halboussi, Speaker of the House of Representatives on Monday, in the presence of 234 deputies, monetary policy in the presence of the Governor of the Central Bank and the amendment of the federal budget for 2019 with the participation of the Minister of Finance and Deputy Prime Minister for Economic Affairs…

Read More: www.DinarUpdates.com/blog

David M. Witty – Dinar Guru   Iraqi PM Abdel-Mahdi in news conference: I will finish forming ministerial cabinet shortly…

Kaperoni – Dinar Guru   Central Bank Governor Allaq met with parliament today [Monday] to discuss monetary policy.

Chattels – Dinar Guru   Article quote:  “Governor of the Central Bank of Parliament: We kept the dinar exchange rate against the dollar…”   …there seems to be obvious intentionality at work here.   Some would argue that a range of value is being maintained.  The 2% variance that Kap talks about.  Not referring to the 1190, but the market rate.

Mountain Goat – Dinar Guru   …no one said the change would happen in mid Dec. I only said the re-education to the citizens has to begin before the reinstatement and in time to educate them, enough to do the event. I was told it would begin in late Nov. …The reinstatement will happen and it is coming.

RVAlready – Dinar Guru    One big thing yesterday. Allaq presented to parliament the advantages of the MR, of which the RV is a major part. Apparently the talk was very well received. Many have speculated that the release date has been determined, and everything we are seeing is just delay until they push the button.

Mountain Goat – Dinar Guru   Article: “MAINTAIN THE EXCHANGE RATE OF THE DINAR AGAINST OTHER CURRENCIES”   Quote: “…the central bank balanced between the financial options and managed despite the pressure and impossible goals to maintain the exchange rate of the dinar against other currencies, including the dollar…”   …again the CBI is announcing the ability to keep the exchange rate of the dinar stable… 

Kaperoni – Dinar Guru   …The IQD is not on a managed float but a peg to the dollar…As for a float in the future, the IMF is very clear on this directive as Iraq needs to exit the peg prior to opening their capital account to foreign investment. This is all in the Article IV Consultations... [...if Iraq floated their currency they would go bankrupt.]  …the CBI controls the currency and the amount of currency in circulation just like any other country. Some 200 countries float their currency are they bankrupt?  Every single one of us should hope and pray the CBI gives up the peg chooses a new exchange rate regime that is a float and allows the dinar to gradually rise over time as the IMF stated allowing them to reduce the money supply.

MilitiaMan – Dinar Guru    …Pretty sure this all comes out the day before Alak is to be in Parliament.. The day before the UN has a topic on IRaq as well… Did we not recently hear Pompeo and Mnuchin speak in finance and economic circumstance done in IRaq, then Trump and Macron Support the new Mahdi GOI? Yep, Oh and yes the Paris Club…  …Kind interesting that Parliament has the 2019 budget on deck and we learned the payments start for the Paris agreement in 2019… All key items timed so ever accordingly…it should give a calming effect for those that thought this was simply flip the switch already…It is and has been a very complex undertaking that was like and ebb and flow tide. Always moving toward a common ground…I suspect if one is following along, this is starting to show a pattern of motion in more of a one direction specifically, and that is internationalism. imo.    [post 2 of 2]

MilitiaMan – Dinar Guru   They are telling us they are literally coming on stage internationally. Today they are actively spelling out internationalism based on statements...  Quote: “The governor of the Central Bank of Iraq Ali al-Alaq, Sunday 11 November 2018, that the actions taken by the bank was sufficient to move Iraq to the normal follow-up area.”  That to me means they are just like every well organized bank that is involved in doing international trade. Equal footing if you will. Level playing field!! . Quote:  “This new indicator will enable all international financial institutions to open their doors and their relationship with our banking institutions in Iraq…”  [post 1 of 2….stay tuned]

David M. Witty – Dinar Guru  Iraqi Parliament’s schedule for tomorrow does not include voting on unfilled ministerial positions.  Iraqi MP says nominees for unfilled minister positions have been decided except for Defense & Interior Ministers. PM wants to avoid announcing names to avoid political attacks. Defense Minister semi-decided but no progress on Interior Minister.

Mnt Goat – Dinar Guru  … I have been telling you in my “project to delete the zeros” and how it will first get revalued in-country within Iraq (not yet on the currency exchanges). Then up to 2-4 weeks later, once it is stable in Iraq and no hyper-inflation situations arise (checked for inflation), the CBI then intends to unleash the dinar on the international markets, thus requesting the reinstatement.  So far they get to a certain point and the project keeps getting put on hold or stalled. So recently we heard that there was the largest busting up of a counterfeit ring within Iraq…we know they need to break up these rings of counterfeiters prior to the RV. [post 1 of 2]

BGG ~ For any bank, banker, lawmaker, adviser or official (of any kind) to make the statement “the Dinar is a scam” is JUST as foolish as ANY of the internet BLOWHARD “Gurus”.

The Iraqi Dinar is the official currency of a COUNTRY. Numerous times I have pointed to SIGIR Report as guidance – see highlights on page 84 (page 94 in the PDF document format, it’s actually page 84 of the hard-copy) of the quarterly SIGIR report to THE US CONGRESS dated April of 2012…

THIS REPORT WAS SENT TO CONGRESS IN MAY of 2012. IT PLAINLY SHOWS IN THIS REPORT THEY EXPECTED THE DINAR TO BE VALUED AT AROUND A DOLLAR IN 2013.

BGG ~ This is a screen shot from the “Special Inspector General for Iraq Reconstruction” – Apr 2012, quarterly report to Congress. For ANY member of our Government to say they have no idea what is going on here – means they simply haven’t read some very basic documents presented them.

__________________________________________________

I have often pointed out this is a highly speculative investment. We are, in no way, guaranteed anything. However, this SIGIR report gives us some VERY valuable insights…

1) This was information given to the US CONGRESS on a quarterly basis… I find it hard to believe such an information source would intentionally mislead Congress. They tend to frown on such behavior. This goes directly to the validity of this venture – against all advice from Wells Fargo or other such naysayers.

2) It points out there had been a legitimate “plan” – or time frame in motion… having been projected to be done in 2013. What the current time frame is now, or what the current plan is – hard to say.

3) It gives us an idea as to who is was charge…the CoM – or Council of Ministers. Who do they answer to?? Maliki, at that point. Period. Historically – he had been a “weak Dinar” policy advocate. Are they likely to now push this forward?

Make note, Mahdi is an actual economist and was one of the Vice Presidents of Iraq from 2005 to 2011. He formerly served as the Finance Minister in the Interim government and Oil Minister from 2014 to 2016 (Wikipedia sourced).

There has been a flurry of references to this same aforementioned “project” recently in various news articles.

4) Though no guarantee of a future plan they wind up engaging – this report pointed out an increase in value that would have taken the Dinar from “one-tenth of a cent” to a value “of slightly less than $1″…

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.

http://articles.latimes.com/1991-03-…_kuwaiti-banks

BGG ~ Thanks to wmawhite for some facts on the subject.

Hi BGG,

Just thought I would drop you an email. I listened to the call, and was interested in what was said about Kuwait, if I may – I will add my 2 cents worth.

You were spot on with what you said, I have a close friend who’s father made a killing on the KWD. He bought from people who had fled the country and he paid pennies on the dollar (we are in Australia). He took the chance that Iraq would be kicked back out and he was right.

When the money was reinstated, he exchanged it for AUD at a rate in the mid 3s. The interesting thing about it is, Iraq invaded in November 1990 (I think), they were kicked back out at the end of Feb 1991, the banks reopened with a brand new KWD in late March, that’s not a bad time frame to get a currency designed, printed and made ready to use, also the time that the old KWD was valid was initially only for 2 months, then extended to 6, so it was valid until Sept 1991, interesting I think.

Also the other thing that seems to be a “fact” in Dinar land is Bill Clinton used the Kuwait RV to pay off the debt. However, Clinton was not President in 91, he did not take office until 93, even I know that and I am an Aussie.

Anyway thanks for the site and enjoy listening to your calls.

Kind Regards,

Chattels – Dinar Guru   Large volume of currency sold at auction…The Central Bank is selling $ 225 million in the currency auction today [Thursday] | 07/11/2018…Typically ( of late ) large volume sales are an effort by the CBI to maintain stability in the rate / value of the dinar against the dollar.

MilitiaMan – Dinar Guru   Article:  “Documents .. Signatures to distribute the amount of each barrel of oil to the Iraqis”  I am not sure how many signatures they’ll need, but, the fact that they are collecting them makes me happy as all get out. They get this done, and for all citizens get a slice of every barrel of oil on their cards… Who wouldn’t sign it after all these years?  Lets not forget the possible motive to put pressure next door, as we watch the unrest. Like we have talked about of recent, the IQD brings purchase power the neighbors are going to be jealous.. imo.

Arthur – Dinar Guru   …when the HCL is fully implemented in Iraq, an Iraqi citizen must be able to swipe their Qi card and receive monthly oil benefits anywhere in the world in the currency of whatever country they happen to be in. That will require an internationally recognized, revalued currency just as Kuwait has. Once fully implemented, then and only then will we see any significant increase in value in the IQD.  [post 2 of 2]

Arthur – Dinar Guru There is finally something to talk about. Yesterday Fifty deputies signed for the deduction of the amount of each barrel of oil and distribution to each individual Iraqi. This is the long awaited HCL.  This event is not just about international Dinarians getting a tremendous return on their investment. It is more about Iraqi citizens being paid from the enormous oil wealth of Iraq.  …oil rich neighbor Kuwait provides their citizens a monthly food supply…  If the government can not find a job for a citizen that citizen gets 200 KD ($650) per month until they are employed.  If a citizen works in the private sector…they earn 900 KD per month in addition to the salary their employer provides (that’s almost $3,000 USD per month on TOP of their regular salary!). All Children get $200/mo till their 26 years old. The minimum pension is 1000 KWD ($3,000). Healthcare and education are free…  [post 1 of 2….stay tuned]

Sandyf – Dinar Guru    …This supposedly international event has only ever been under the US microscope.  The Iraqi dinar was not the only speculative investment I got involved with all these years ago and the informational waveform would indicate a connection to a singular event. Earlier this year other entities indicated that there could be some sort of conclusion towards the tail end of this year. We are now weeks away and as yet there has been no backtracking, on previous occasions backtracking came months before the anticipated timeframe...

Mnt Goat – Dinar Guru   Article quote:  “The United States has told Iraq it will continue to import vital supplies of gas, energy and food from Iran after Washington reinstates sanctions on Iran’s oil sector, three Iraqi officials said. Exemption from Iraq IS CONTINGENT ON IRAN NOT PAYING THE PRICE OF IMPORTS IN US DOLLARS…”  Okay so then how will Iraq pay for the imports? According to the currency auctions this is supposed to be used for this purpose to convert dinars to US dollars and then pay them in dollars. Will they use instead Euros or another currency? Will they use dinars? So we should see the currency auctions going way down after these sanctions kick in. Let’s not do a knee jerk reaction when we see it and claims it’s the RV since now we know what is causing it.

Kaperoni – Dinar Guru   ...the dinar is already legal tender throughout the world.  Once IMF Article VIII happens it will make banking and acceptance more available.  There is no reinstatement the dinar value is what it is and currently 1190 to $1.  If the dinar rises it will occur gradually via a new exchange rate regime which will be a float..not some overnight event.

Chattels – Dinar Guru  The Constitution of Iraq does not require three deputies to the President or VP’s.  There must be at least one and there may be more, but constitutionally speaking no change is necessary.  Article 66, Second, states as follows : “ A law shall regulate the nomination of one deputy or more for the President of the Republic.”  Abadi tried to do away with all VP’s and failed.  Historically there have been three, one each from Shia, Sunni and Kurdish factions.