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.

Breitling – Dinar Guru   As far as the dinar goes, it looks so phenomenal, it truly does.  We are in a very very good spot.  And now we have an entire country pushing it…Let me throw this out there just as a scenario…Let’s say Iran is not attached to the Iraqi dinar at all. Then it’s strictly oil prices.  But Iran is attached to Iraq.  So what if they force a revaluation or decide to have a revaluation before the price per barrel goes down?  That could happen…that’s why we live in a different world.  That could happen with the relationship they have with Iran.  It would stabilize Iraq and Iran in that region if they added value to it.  It would counter the sanctions…the language I’m hearing out of Iraq is that’s what’s coming down the road.  That’s what they’re negotiating.  Now Iraq hasn’t bought into it yet but that’s what’s going on out there. 

Iraqi Dinar News Update  After a month of no updates…the CBI reported the MARKET rate of the dinar today at 1204. The update included the MARKET rate for every business day between October 8th and November 7th. The Iraqi Dinar traded between 1203 to 1208 over this time-span.  These rates are within the 2% IMF requirement between the OFFICIAL rate and the MARKET rate (OR/MR) which should be maintained for Article 8 compliance.  Stay tuned as more information comes in from the Central Bank of Iraq!!

Chattels – Dinar Guru    #Iraq parliament met Tue but did not consider completion of cabinet. Next meeting scheduled for Thur…Tune in tomorrow…

Mnt Goat – Dinar Guru   Article:  “PROJECT TO BE DISCUSSED BY THE PARLIAMENT, REDUCING THE NUMBER OF VICE PRESIDENTS FROM THREE TO ONE”     This article is one that I consider a WOW article. …First we find out why Maliki has not yet been prosecuted for the fall of Mosul. Then we can see the political maneuvering by Maliki to save his own skin. Simply put – he wants the immunity and he needs the VP position. Secondly we see how they have not yet announced the three new VPs and want to change the constitution to have only one (1).  But this will be very difficult to do since what tribe will the VP belong to? Right now its a balance between the three tribes as each Sunni, Sheite and Kurd is represented. We are told that they would be announced at the same time as the rest of the ministers. The count for the ministers is now up to 6 from 4 last week that are not yet ratified. There are a total of 8 still to be announced and voted on.

Adam Montana – Dinar Guru    …”Mahdi is cleaning house”. YEP! The wheels are turning.  The transition is rolling along, and that’s the best news we can ask for. Keep it moving, Mahdi!   I see all of this as a good sign. There are no major upheavals, nothing shocking, and nothing scary has happened in the last week. Things are proceeding smoothly…we DO have is solid progress…Stay patient, friends.

Breitling – Dinar Guru   What did Iraq say they were going to do?  They even told everybody how they were going to do it and the time period they are going to take to get the currency you and I have off the market and introduce the new currency that represent the higher rate that can interact with the rest of the world.  There is a transition period in the middle of that.  Nothing more.  It’s not complicated.  Everybody makes things more complicated than they really are.  Everything is simple…always start with the intent of what the CBI wants to do.  They want to add value to their currency…That’s it.

MilitiaMan – Dinar Guru  

QD/USD (IQDUSD=X)
Previous Close   0.001
Open   0.001
Bid   0.001
Day’s Range   0.001 – 0.001
52 Week Range   0.0008 – 0.0009
Ask   0.001

Now that is interesting movement in value and if it holds then, a international calculation can get applied to it in short order…IMO.

Breitling – Dinar Guru   Where do I get my information from?  It comes from an authority…I’m getting my math, my information from the authority…from the people who say they’re going to revalue.  The people who are in control of the country’s currency in Iraq.  That’s it.  If it doesn’t happen, it’s because of something they did.  If it happens…it’s something they did.  But I’m speculating on it because of something they said.  And I believe they can do it.  And I believe they’re going to do it.  That’s it.  My opinion is based on that information and that information only…my option is yeah, it’s worth speculating on.  I believe that.

Mnt Goat – Dinar Guru   Article:  “APPEARANCE OF MOHAMMED SALEH: IRAQ AND THE WORLD TRADE ORGANIZATION”   …this is a very long article and so let me try to sum it up for you: Mohammed Saleh, the deputy financial advisor to the GOI, is assessing the opportunity cost of joining the WTO.  Does Iraq really care about joining? He concludes that YES Iraq does want to join.   …The long path to WTO ascension is the ability to go along with the BIG guys and play their game since the markets are dominated by so few who control the entire international market;   the long-term survival of Iraq depends on international trade, secure international investment and a commercial environment;  one of the major obstacles is the INABILITY of a “strong payment program”. How they transfer funds (SWIFT system) and use of currency (currency reform).

Daytrader – Dinar Guru  IMO, the oversight management of the economic reform process is the responsibility of the government.  This suggests the success of the GOI economic reform process is dependent on the CBI reinstating the IQD to an international status at a legitimate rate, but the success of the monetary reform process is dependent on the success (read currency demand) of the economic reform.  Would hope the CBI is now at this stage in the monetary reform process, as they hold the trigger mechanism in their hands for Iraq’s economic reform.  IMO.   [post 2 of 2]

Daytrader – Dinar Guru    JMO, there are two reforms taking place in Iraq that are co-dependent; monetary reform and economic reform.  The economic reform provides jobs on several levels…People with jobs earn money, then spend money in many areas; food, shelter, clothing and the list goes on. Those purchases will require businesses to replenish their stock, which drives the need for more product manufacturing, more raw material needs and more agriculture development.  This circular process drives the flow of money in any economy.  …This process is critical for the CBI’s success as demand for a currency determines the effectiveness of a monetary reform program.  However IMO, the CBI must reach a point in the monetary reform process where the value of its currency will attract direct foreign investment (DFI) as the trigger for economic reform.  [post 1 of 2….stay tuned]

MilitiaMan – Dinar Guru   So since the currency has been a main topic for about 30 days or more now, it would suggest that since the timing of REER (Real Effective Exchange Rate) is an issue, the final roll out on the new small currency would be expected to be along quite shortly.. imo.  It was mentioned that REER was established on Monday last for a basket, it has almost been a week for REER..imo The clock is not just ticking…  lol.

Chattels – Dinar Guru   Article quote:  “The exchange rate of the dollar, Saturday, maintained its stability against the dinar on the Iraqi stock exchange.  According to figures received by “Economy News”, the price of selling the dollar in the stock market today is 120 thousand dinars and the purchase price 121 thousand dinars to 100 dollars. On the Basra Stock Exchange, the sale price today reached 120 thousand dinars, and the purchase price 121 thousand dinars to 100 dollars.  While the sale price of the dollar on the Arbil Stock Exchange today 120 thousand dinars, and the purchase price 121 thousand dinars to 100 dollars.”

Mnt Goat – Dinar Guru   The new Iranian sanctions that are due to kick-in in a few days and this may be our saving grace. These sanctions may force the issue of preventing USD currency through the currency auction sales from going to Iran. This may override any other (fake) “security” concerns and so may finally allow the cancellation of the auctions and the use of the dinar in trade. If this happens, they must pull the trigger and go international (at least this is my take) as they will have no choice.

Mnt Goat – Dinar Guru   …I want to say it is impossible to revalue the dinar until Iraq has at least first reinstated the dinar. …So we are looking for a “reinstatement” first. Any significant change in value beyond the value prior to the international embargo of the currency can then be called a revaluation but only in the sense of increased value. Technically in IMF terms it is NOT really a “revaluation”. So why does everyone keep saying they are looking for the RV? When I use this term RV I am using it generically saying that the rate will significantly increase. I do not mean a formal revaluation.

Mnt Goat – Dinar Guru  …news of some debt forgiveness of the 2004 Paris Agreement and meeting the conditions of the IMF Stand By Agreement terms is completed in order to do so. This is a huge sum of money ($128 billion) and once again sets Iraq up in a position allowing them more financial flexibility. As we all know paying off past debt, especially war debt, is showing financial responsibility and this sets up Iraq in a better position for the reinstatement of the dinar sooner than later. But I do not hear that this is a trigger mechanism for the reinstatement.

MilitiaMan – Dinar Guru  On a slightly different path we see working in conjunction with Iraq, we did see the AMF with Iraq that ended a 10 day meeting…last Thursday.  It was between Iraq and the AMF among others like the IMF, WB, BIS, etc.. Why is this all important…Contracts. The AMF (22 countries), Kuwait, USA, Great Britain, Japan, Korea, etc., were working on imo valuation of the REER to use for to adjust contracts. Very important part of the final process.. They need to establish Fair Value for pricing goods and services.