MilitiaMan – Dinar Guru   Article:  “The Stock Market Announces The Launch Of National Bond Trading”  Quote:  “The bonds will be launched on November 18 this year, for the first time in the Iraqi market for securities,”   They look to be international as I see it, and they are primarily for those that have very big money! Not for the little guy.. imo.. That is imo a good thing. Qualified Institutional Buyer’s – (QIB).

Mountain Goat – Dinar Guru   Article:  “CENTRAL BANKS SHOULD CONSIDER ISSUING DIGITAL MONEY (electronic form NOT crypto currency), IMF’S LAGARDE SAYS”  …Lagarde is NOT talking about crypto currencies. She is talking about electronic currency much like the USA already adopted…the IMF wants other nations too to go more electronic. We have seen this effort in Iraq to convert them and it is successful and allows them to use the smaller category notes and moves them into the situation where they can even eventually issued more even smaller category notes.

Mountain Goat – Dinar Guru   Article: “Prime Minister Adel Abdul Mahdi, told President Barham Saleh that he would resign if the appointment process continues to sell ministries between the political blocs in his government.”  So now we know the hold up in getting the remaining ministers. Will they conduct the scheduled announcement and voting of the last 4 ministers next Tuesday Nov 20th or will this too be held up longer?  Just in…The next session moved to Monday, 19/11 at one o’clock.” Go figure

ChrisC – Dinar Guru  Article: “Washington: We will press Baghdad to distribute wealth to Iraqis”  This is SO what we have been needing to hear.  When Trump says you are rich and he is going to “pressure” you, you can get ready because he has apparently had enough of their BS. …We saw one exodus some time ago of the worst corrupt and I bet we are getting ready to see another.  Once that happens, they should be ready to play ball.

Frank26 – Dinar Guru   …They’re lifting the 3-zeros Family. THERE IS NO DENIAL.  They’re also now telling you that the Iraqi Stock Exchange is about to sell INTERNATIONAL – INTERNATIONAL -INTERNATIONAL BONDS! THEIR BONDS FROM THEIR NATION ARE GOING TO BE SOLD INTERNATIONALLY!”

Kaperoni – Dinar Guru   Breaking News…it appears that new PM Mahdi has sacked the CBI Gov Ali al-Allaq.  If true and Ali al-Allaq has been removed history of this position has proven that it causes a delay and monetary policy which is not good news for all of us waiting for Iraq to engage their banking system with the world financial system.  It also could have an impact on compliance with the IMF. When previous Central Bank Governors were removed the spread went significantly outside the 2% requirement.  Unless Mahdi plans to bring back Shabibi (doubtful) there will be a period of instability in Iraq thus possibly causing the dinar to fall out of compliance. Setback for sure.  This is the second time we have been close to the beginning of currency reform.  Could end up being a sad day delaying months if not longer.  PM Mahdi is pro reform and is clearly aware of the urgency to rebuild, create jobs and invite investment so I remain hopeful for now.

BGG ~ I disagree. If one faces certain realities, for instance, the ABSURDITY of Alak’s recent excuses for there being currency having to be “destroyed”… and not enough currency where it should be (What do you wanna’ bet there turns out to be more to this story?). The fact that he has been in this position since Maliki appointed him. Before this he was the Sec. Gen. for one of the most corrupt CoM’s to ever be in charge of Iraq. He has since been the one able to maintain the current status quo from his perch atop the CBI.

How, again, is his ouster is a bad thing?

ChrisC – Dinar Guru   Article:  “The central bank reveals the amount of cash and gold reserves currently in Iraq”   Quotes: “there is no intention at the present time to issue any new category and existing categories that cover the need of local Iraq.”; “Iraq has plans and strategies that it is working on periodically to make adjustments to the currency and pull the damaged from public markets and replace it with a new one,”   Remember what Walkingstick’s firm got them to clearly admit?  This is beginning to feel like Kuwait.  Wasn’t it them that said they couldn’t RV for a year and did it the next day?

BGG ~ No, that was not Kuwait (we have printed actual news sources detailing the Kuwait banking reinstatement numerous times). It was China who took out a full page ad denying any currency adjustment and then did one the very next day. Not Kuwait – not an RV. Just an adjustment.

Kaperoni – Dinar Guru   In order for Iraq to engage its banking system with the world’s financial system It’s a combination of government effort and financial stability/compliance.  And again as we stated several months ago a new government would need to be formed, stability and security would have to be proven as well as any other legal or laws necessary to perpetuate the investment process.   That being said there is a sense of urgency in Iraq to move Iraq forward now rather than later because Iraq needs money to rebuild and private investment is that solution.   …bringing an influx of capital into a country will create substantial inflationary pressure through the CBI capital account…this has to be accounted for and that’s why the CBI must move off of the peg to a float prior to such action.   [post 3 of 3]

Kaperoni – Dinar Guru   …in order for the dinar to go up in value several other things must occur the Central Bank of Iraq for one has to rebuild the banking sector.  …the central bank has to meet the conditions set forth by the IMF. And…they must be in compliance in order to move from Article XIV to Article VIII.  This compliance has not been achieved since 2012. And this compliance started again in March of 2018. Back then I told everyone that there would be a minimum of a 90-day window and which the CBI needed to hold such compliance …it’s in writing and factual.  Since then the CBI has done an excellent job maintaining the 2% compliance requirement to move to Article VIII under difficult circumstances within the country, this doesn’t mean they will move today or tomorrow because other factors still exist which could still hold this up.  [post 2 of 3]

Kaperoni – Dinar Guru ‏   The latest…annual Article IV Consultation…done last September clearly states...”The authorities have appropriately maintained the exchange rate peg.”  This was done to help accomplish exchange rate stability in Iraq thus allowing the CBI to get in compliance.   …telling people the dinar is already on a managed float…is outright false and not what is going on regarding monetary policy at this time. The CBI is working hard to meet compliance so that they can move forward and engage their banking system with the world.   [post 1 of 3]

Frank62 – Dinar Guru  …It’s one thing to test fractional banking internally but completely different introducing @ onset of banking with the IQD…  ISX was testing an offline platform…with USA stock exchange, (don’t think a PR rate) also with European Exchanges, ME Exchanges, Arabic Exchanges & Asian Bourse…  It’s happening right before our eyes whether we can see it or not!  …our sharing is weeks ahead.

Kaperoni – Dinar Guru  [It’s getting hard for me even seeing when or if they are ever going to float. The corruption, the stalling, the bickering/infighting, the incompetence…it is getting really difficult to see them ever getting past it.]   Yes it can be frustrating.  Keep in mind the IMF, World Bank and others are pushing this reform forward.

Mountian Goat – Dinar Guru   Article: “ALMOST DAILY REPORTS OF THE ARREST OR ELIMINATION OF THE MILITANT GROUP’S TERRORISTS, THEIR LEADERS, SLEEPER CELLS AND HIDEOUTS” …the SECURITY situation in Iraq is stable but they are still having problems with the ISIS group infiltrating back into Iraq from Syria. But we know we have heard many articles about how SECURE and STABLE Iraq now is so these issues should not be a prohibiting factor in the reinstatement of the dinar.

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]