{"id":12684,"date":"2016-09-18T09:21:27","date_gmt":"2016-09-18T14:21:27","guid":{"rendered":"http:\/\/www.dinarupdates.com\/observer\/?p=12684"},"modified":"2016-09-18T13:03:21","modified_gmt":"2016-09-18T18:03:21","slug":"dinar-observer-daily-september-18th","status":"publish","type":"post","link":"https:\/\/dinarupdates.com\/observer\/?p=12684","title":{"rendered":"DINAR OBSERVER DAILY September 18th"},"content":{"rendered":"<p><span style=\"color: #008000;\"><strong>Welcome to the Dinar Observer &#8211; Daily. For regular Dinar Updates, to see what the Dinar Gurus have to say, Dinar to USD listings, IQD and for Iraqi Dinar info &#8211; THAT MATTERS!! This is a good place to start for your Daily Dinar Recap &#8211; whether you are a Dinar vet or just looking for a little current Dinar info &#8211; Welcome.<\/strong><\/span><\/p>\n<h1><span style=\"color: #800000;\"><strong><em>Word for the day&#8230;<\/em><\/strong><\/span><\/h1>\n<p><img loading=\"lazy\" decoding=\"async\" class=\" aligncenter\" alt=\"\" src=\"https:\/\/scontent-atl3-1.xx.fbcdn.net\/v\/t1.0-9\/14322184_10205137148508389_8571601781781399901_n.jpg?oh=2b870aa33a7c37d97c8f678ac09d5287&amp;oe=583CE2BC\" width=\"472\" height=\"354\" \/><\/p>\n<h1><span style=\"color: #008000;\"><em>Mrs. BGG<\/em><\/span><\/h1>\n<p>______________________________________________________________<\/p>\n<table class=\"tableData\" width=\"100%\" border=\"0\" cellspacing=\"0\" cellpadding=\"3\">\n<tbody>\n<tr class=\"tableRowHead\">\n<td class=\"rateCell\">CURRENCY<\/td>\n<td class=\"rateCell\" align=\"center\">CODE<\/td>\n<td class=\"rateCell\" align=\"center\">SELL<\/td>\n<td align=\"center\">BUY<\/td>\n<\/tr>\n<tr class=\"rateTableRowLight\">\n<td class=\"rateCell\">US dollar<\/td>\n<td class=\"rateCell\" align=\"center\">USD<\/td>\n<td class=\"rateCell\" align=\"center\">1182.000<\/td>\n<td align=\"center\">1180.000<\/td>\n<\/tr>\n<tr class=\"rateTableRowDark\">\n<td class=\"rateCell\">Euro<\/td>\n<td class=\"rateCell\" align=\"center\">EUR<\/td>\n<td class=\"rateCell\" align=\"center\">1335.187<\/td>\n<td align=\"center\">1334.520<\/td>\n<\/tr>\n<tr class=\"rateTableRowLight\">\n<td class=\"rateCell\">British pound<\/td>\n<td class=\"rateCell\" align=\"center\">GBP<\/td>\n<td class=\"rateCell\" align=\"center\">1580.570<\/td>\n<td align=\"center\">1579.780<\/td>\n<\/tr>\n<tr class=\"rateTableRowDark\">\n<td class=\"rateCell\">Canadian dollar<\/td>\n<td class=\"rateCell\" align=\"center\">CAD<\/td>\n<td class=\"rateCell\" align=\"center\">915.640<\/td>\n<td align=\"center\">915.182<\/td>\n<\/tr>\n<tr class=\"rateTableRowLight\">\n<td class=\"rateCell\">Swiss franc<\/td>\n<td class=\"rateCell\" align=\"center\">CHF<\/td>\n<td class=\"rateCell\" align=\"center\">1221.579<\/td>\n<td align=\"center\">1220.968<\/td>\n<\/tr>\n<tr class=\"rateTableRowDark\">\n<td class=\"rateCell\">Swedish krona<\/td>\n<td class=\"rateCell\" align=\"center\">SEK<\/td>\n<td class=\"rateCell\" align=\"center\">140.283<\/td>\n<td align=\"center\">140.213<\/td>\n<\/tr>\n<tr class=\"rateTableRowLight\">\n<td class=\"rateCell\">Norwegian krone<\/td>\n<td class=\"rateCell\" align=\"center\">NOK<\/td>\n<td class=\"rateCell\" align=\"center\">145.209<\/td>\n<td align=\"center\">145.136<\/td>\n<\/tr>\n<tr class=\"rateTableRowDark\">\n<td class=\"rateCell\">Danish krone<\/td>\n<td class=\"rateCell\" align=\"center\">DKK<\/td>\n<td class=\"rateCell\" align=\"center\">179.390<\/td>\n<td align=\"center\">179.300<\/td>\n<\/tr>\n<tr class=\"rateTableRowLight\">\n<td class=\"rateCell\">Japanese yen<\/td>\n<td class=\"rateCell\" align=\"center\">JPY<\/td>\n<td class=\"rateCell\" align=\"center\">11.627<\/td>\n<td align=\"center\">11.621<\/td>\n<\/tr>\n<tr class=\"rateTableRowDark\">\n<td class=\"rateCell\">Special<br \/>\nDrawing Rights<\/td>\n<td class=\"rateCell\" align=\"center\">SDR<\/td>\n<td class=\"rateCell\" align=\"center\">1660.828<\/td>\n<td align=\"center\">1659.998<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<h2><strong>Indicative rates &#8211; 09.18.2016<\/strong><\/h2>\n<h2><em><strong><a href=\"http:\/\/www.cbi.iq\/\" target=\"_blank\">http:\/\/www.cbi.iq\/<\/a><\/strong><\/em><\/h2>\n<p>______________________________________________________________<\/p>\n<h1><span style=\"color: #008000;\"><em>Every man is a damn fool for at least five minutes a day. Wisdom consists of not exceeding the limit. &#8211; Elbert Hubbard<\/em><\/span><\/h1>\n<p>______________________________________________________________<\/p>\n<h1><strong>*** Current News ***<\/strong><\/h1>\n<p>______________________________________________________________<\/p>\n<p><strong><span style=\"color: #c23b3b;\">BGG (Dinar Guru) &#8211; <\/span><\/strong>\u00a0\u00a0 [&#8230;<em>IMO the interest for us now is only the intro of new currency and how they will treat the existing 3 zero notes<\/em>&#8230;]\u00a0\u00a0<strong>\u00a0no need to be concerned about how they treat the 3 zero notes&#8230;\u00a0<span style=\"text-decoration: underline;\">they are worth a Dinar and will still be worth a Dinar once they make the change.<\/span>..<\/strong><br \/>\n______________________________________________________________<\/p>\n<p><strong><span style=\"color: #c23b3b;\">BGG (Dinar Guru) &#8211; <\/span><\/strong><span style=\"color: #c23b3b;\">\u00a0<\/span>\u00a0 According to economists &#8211; once they are internationally integrated &#8211; their currency priced right, investment laws are properly amended and internationally accepted &#8211;\u00a0<strong>THEY WILL GET HIT WITH A WALL OF INVESTMENT MONEY<\/strong>&#8230; (their actual words).\u00a0 \u00a0When this happens &#8211; they will be a lot less dependent on oil income&#8230;far more diversified.\u00a0 [&#8230;<em>the IMF is in charge. What say you<\/em>?]\u00a0\u00a0<strong>\u00a0I agree&#8230;\u00a0and they seem to be responding.\u00a0 \u00a0I really think all of this is part of &#8220;the financial reform&#8221;&#8230; no doubt.\u00a0\u00a0 \u00a0&#8230;unlike in previous regimes &#8211; there is no stall here&#8230; it&#8217;s all GO, GO, GO!!\u00a0\u00a0<\/strong>\u00a0[post 2 of 2]<br \/>\n______________________________________________________________<\/p>\n<h1><span style=\"color: #008000;\"><strong>Follow us on twitter @DinarUpdates !!<\/strong><\/span><\/h1>\n<h2><strong><a href=\"https:\/\/i0.wp.com\/www.dinarupdates.com\/blog\/wp-content\/uploads\/2014\/03\/images-11.jpg\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"alignleft\" title=\"images (1)\" alt=\"follow Dinar Updates on twitter\" src=\"https:\/\/i0.wp.com\/www.dinarupdates.com\/blog\/wp-content\/uploads\/2014\/03\/images-11.jpg?resize=133%2C130\" width=\"133\" height=\"130\" \/><\/a><span style=\"color: #ff0000;\">Don&#8217;t MISS &#8211; &#8220;DU NEWS TIME&#8221; w\/BGG and Co.\u00a0<\/span><\/strong><strong><span style=\"color: #ff0000;\">in the DU CHAT ROOM &#8211; Sunday 7:30pm EST<\/span><\/strong><\/h2>\n<h2><strong><a href=\"http:\/\/www.dinarupdates.com\/\" target=\"_blank\" rel=\"nofollow\">www.DinarUpdates.com<\/a> &#8211; save as favorite<\/strong><\/h2>\n<p>______________________________________________________________<\/p>\n<p><strong><span style=\"color: #c23b3b;\">BGG (Dinar Guru) &#8211; <\/span><\/strong><span style=\"color: #c23b3b;\">\u00a0<\/span>\u00a0 Article quote:\u00a0\u00a0\u00a0&#8220;&#8230;<em>the willingness of credit with the international Monetary Fund by which it agreed to grant Iraq a financial loan of $ 5.3 billion agreement<\/em>&#8230;&#8221;\u00a0\u00a0<strong>&#8230;their whole budget relies entirely on oil<\/strong>\u00a0&#8211; everything you see in their budget is their whole oil production&#8230; their everything rises and falls on oil production and oil prices.\u00a0<strong>\u00a0&#8230;this loan is just a vehicle to get the IMF and &#8220;world support&#8221; on board<\/strong>&#8230;\u00a0 two things they really need..<span style=\"text-decoration: underline;\">.<strong>1) IMF oversight and a demonstrated ability to do as they are told&#8230;\u00a0\u00a0 2) international acceptance&#8230; re-integration with the world economies.<\/strong>\u00a0<\/span>\u00a0#2 won&#8217;t fully happen without #1&#8230;AND international acceptance in every way.\u00a0<strong>This includes an internationally priced and accepted currency&#8230;\u00a0<\/strong>\u00a0 [post 1 of 2&#8230;.stay tuned]<br \/>\n______________________________________________________________<\/p>\n<p><strong><span style=\"color: #c23b3b;\">Mnt Goat (Dinar Guru) &#8211;<\/span><\/strong><span style=\"color: #c23b3b;\">\u00a0<\/span>\u00a0 So the good news, if any, is that we now know 3 things are now FACTUAL and see these FACTS in writing from the CBI:<br \/>\n<strong>\u00b7 Iraq does need the IMF\u2019s permission to RV<br \/>\n\u00b7 Iraq CBI needs to increase their reserve of hard currency now sitting in the CBI. It now is almost cut in half from what it was in 2012.<br \/>\n\u00b7 the legislative track and other issues also have an impact on the exchange rate (so it appears Iraq does need some mandated laws&#8230;)<\/strong>\u00a0\u00a0[post 3 of 3]<br \/>\n______________________________________________________________<\/p>\n<p><strong><span style=\"color: #c23b3b;\">Mnt Goat (Dinar Guru) &#8211;<\/span><\/strong>\u00a0\u00a0\u00a0 There is an effort now under way to recover nearly 60 billion that has been stolen from the CBI reserves and from the treasury on falsified contracts and other corruptive measures.\u00a0<strong>The CBi reserves could literally climb over night to 2012 levels very quickly and as it could be months and not years and this would bring us to early 2017<\/strong>&#8230;we know they will not issue this 100,000 note until after the RV occurs and it is never going to be used on the streets of Iraq as it is intended for inter-banking transactions only. This we know as factual. So it could be many months or even years before we see this note.\u00a0<strong>\u00a0But I don\u2019t think longer than months since common sense tells us they were in a budget crunch and so why spend so much money and tie up so much money getting this new note designed and printed now if they did not intend to launch it soon.\u00a0<\/strong>\u00a0 [post 2 of 3&#8230;.stay tuned]<br \/>\n______________________________________________________________<\/p>\n<h2><strong><span style=\"color: #800000;\">Saleh: Iraq has implemented all the conditions of the International Monetary Fund!<\/span><\/strong><\/h2>\n<p><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\" aligncenter\" alt=\"\" src=\"https:\/\/i0.wp.com\/aliraqnews.com\/wp-content\/uploads\/2016\/09\/%D9%85%D8%B8%D9%87%D8%B1-%D9%85%D8%AD%D9%85%D8%AF-%D8%B5%D8%A7%D9%84%D8%AD-700x300.jpg?resize=574%2C246\" width=\"574\" height=\"246\" \/><\/p>\n<p><strong>BAGHDAD \/ News Network Iraq &#8211;<\/strong> Declared Prime Minister adviser on fiscal policies, the appearance of Mohammed Saleh on Thursday, for an end to Iraq &#8216;s own commitments first phase of the Stand -By agreement with the International Monetary Fund of several stages include 13 commitment by which it agreed to grant Iraq a financial loan $ 5.3 billion&#8230;<\/p>\n<p><em><strong>Read More:\u00a0<a href=\"http:\/\/www.dinarupdates.com\/blog\/\" target=\"_blank\">http:\/\/www.dinarupdates.com\/blog\/<\/a><\/strong><\/em><br \/>\n______________________________________________________________<\/p>\n<p><strong><span style=\"color: #c23b3b;\">Mnt Goat (Dinar Guru) &#8211;<\/span><\/strong><span style=\"color: #c23b3b;\">\u00a0<\/span>\u00a0 Remember back to 2012 when the then head of the CBI Dr Shababi was going to RV the currency.\u00a0<strong>We know this is FACTUAL since he told us in an article last year that Iraq missed an opportunity since the IMF gave them permission to RV at that time.<\/strong>\u00a0He also said that he has the reserves at over 80 billion. So we must go by what we now know.<strong>\u00a0We now know the CBI reserves is somewhere around $52 billion\u00a0<\/strong>since Maliki and his goons raided the coffers along with the currency auctions to sustain the economy since Maliki left only 500 million in the treasury when he parted from office and Abadi took over.\u00a0 [post 1 of 3&#8230;.stay tuned]<br \/>\n______________________________________________________________<\/p>\n<p><strong><span style=\"color: #c23b3b;\">BGG (Dinar Guru) &#8211;<\/span><\/strong>\u00a0\u00a0 Article:\u00a0 &#8220;<em>Saleh: Iraq has implemented all the conditions of the International Monetary Fund<\/em>!&#8221;\u00a0 Interesting to hear this kind of bluster from Saleh&#8230;<strong>We haven&#8217;t seen the absolute proof &#8211; but sounds like they are headed the right direction.<\/strong><br \/>\n______________________________________________________________<\/p>\n<p><strong><span style=\"color: #c23b3b;\">Frank26 (Dinar Guru) &#8211;<\/span>\u00a0\u00a0<\/strong> [<em>Have Iraq banks completed request by the CBI to electronically comply by September<\/em>&#8230;?]\u00a0\u00a0\u00a0<strong>&#8230;yes IMO<\/strong>&#8230;yes the banks of Iraq are set to make loans to citizens&#8230;to give out credit cards&#8230;to open up accounts&#8230;to help investors that are going to be coming in&#8230;electronically they are advanced&#8230;<strong>yes they are ready&#8230;but it is useless&#8230;it is all useless until they raise the value of their currency.<\/strong><br \/>\n______________________________________________________________<\/p>\n<h2><span style=\"color: #0000ff;\"><em>BGG:<\/em><\/span><\/h2>\n<h2><span style=\"color: #0000ff;\"><em>My commentary from News Time Saturday afternoon was mainly based on the above article and Saleh&#8217;s comments coming out of the IMF meetings in Amman, Jordan.<br \/>\n<\/em><\/span><br \/>\n<span style=\"color: #0000ff;\"><em>So let&#8217;s give some frame of reference in &#8220;layman&#8217;s terms&#8221;&#8230;<\/em><\/span><\/h2>\n<h2><span style=\"color: #0000ff;\"><em>We&#8217;ve talked over and over and OVER about this IMF &#8220;world&#8221; assistance package&#8230;<\/em><\/span><\/h2>\n<h2><span style=\"color: #0000ff;\"><em>To start things off &#8211; they will get 5.3 Billion USD over the next 5 years.<\/em><\/span><\/h2>\n<h2><span style=\"color: #0000ff;\"><em>Their budget for 2017 is roughly 85 Billion (expressed in USD &#8211; which isn&#8217;t really significant &#8211; just saying it in USD terms)&#8230;<\/em><\/span><\/h2>\n<h2><span style=\"color: #0000ff;\"><em>I don&#8217;t recall what their budget was for 2016 &#8211; probably similar&#8230;<\/em><\/span><\/h2>\n<h2><span style=\"color: #0000ff;\"><em>Once we&#8217;re done with this &#8211; I&#8217;ll ask a few important questions&#8230;<\/em><\/span><\/h2>\n<h2><span style=\"color: #0000ff;\"><em>They will have gotten something around 1 Billion USD in IMF aid this year &#8211; once the balance of the two payments are made &#8211; next month??<\/em><\/span><\/h2>\n<h2><span style=\"color: #0000ff;\"><em>Everyone follow so far??<\/em><\/span><\/h2>\n<h2><span style=\"color: #0000ff;\"><em>So their total budget is around 85 Billion US and they are getting this &#8220;life-saving aid&#8221; amounting to a little over 1 Billion US&#8230;<\/em><\/span><\/h2>\n<h2><span style=\"color: #0000ff;\"><em>That works out to a little over 1% of their budget&#8230; seriously?!?<\/em><\/span><\/h2>\n<h2><span style=\"color: #0000ff;\"><em>This would be like you making 50,000 per year&#8230; you find yourself in a &#8220;financial crisis&#8221; &#8211; your banker comes to you and says &#8220;I&#8217;ll give you $250.00 in July and another $250 in October&#8221;&#8230; how far do you think that would go towards solving your crisis??<\/em><\/span><\/h2>\n<h2><span style=\"color: #0000ff;\"><em>Seriously?? &#8230;<\/em><\/span><\/h2>\n<p><em><strong>Read More:\u00a0<a href=\"http:\/\/www.dinarupdates.com\/blog\/\" target=\"_blank\">http:\/\/www.dinarupdates.com\/blog\/<\/a><\/strong><\/em><br \/>\n______________________________________________________________<\/p>\n<p><strong><span style=\"color: #c23b3b;\">Kaperoni (Dinar Guru) &#8211;<\/span><\/strong>\u00a0<strong>\u00a0 Their is no revalue, only a gradual appreciation over time.\u00a0<\/strong>\u00a0This event is not specifically about the dinar, its about creating a sound stable banking system and as a result an investment climate for global investors to rebuilt Iraq.\u00a0\u00a0<span style=\"text-decoration: underline;\"><strong>Getting Iraq&#8217;s banking system into Article VIII is the key<\/strong><\/span>&#8230;here is a quote direct from the IMF&#8230;&#8221;<span style=\"text-decoration: underline;\"><em>Such a move towards acceptance of the obligations under Article VIII of the IMF\u2019s Articles of Agreement will send a positive signal to the investor community that Iraq is committed to maintain an exchange system that is free of restrictions and MCPs for current international transactions and\u00a0<strong>thus facilitate creation of a favorable business climate<\/strong><\/em><\/span><strong>&#8220;<\/strong><br \/>\n______________________________________________________________<\/p>\n<p><strong><span style=\"color: #c23b3b;\">Frank26 (Dinar Guru) &#8211;<\/span><\/strong>\u00a0 \u00a0I feel good about what they have done last week in that meeting [IMF?] and&#8230;<strong>they are going to have continued negotiations going into November&#8230;September, October and part of November<\/strong>&#8230;and I hope that maybe when they come back from this holiday&#8230;they come back around the 18th I believe&#8230;I think they are going to come back with a lot of news&#8230;a lot more information&#8230;more transparency&#8230;what did we say&#8230;once they give you Fallujah&#8230;transparency of the Economic Reforms&#8230;you see it&#8230;<strong>what did we tell you the moment they give you Mosul&#8230;the transparency of the Monetary Reform&#8230;and\u00a0<span style=\"text-decoration: underline;\">when they come back we are going to have a plethora of information about the Monetary Reform&#8230;more talk from the CBI\u2026.more talk from Dr. Shabibi&#8230;IMO<\/span>&#8230;<\/strong><br \/>\n______________________________________________________________<\/p>\n<p><strong><span style=\"color: #c23b3b;\">Frank26 (Dinar Guru) &#8211;<\/span><\/strong>\u00a0\u00a0 [<em>are they on track for the fiscal RI<\/em>&#8230;?]\u00a0\u00a0<strong>Yeah&#8230; and I think when they come back we are going to learn more about that&#8230;<\/strong>not so much about the budget but more about the Monetary Reform which would lead them into the fiscal part&#8230;into the RI for us&#8230;<strong>the Monetary Reform&#8230;once they lift the value of their currency&#8230;their currency is ours to take for a ride up an escalator in value&#8230;<span style=\"text-decoration: underline;\">a dinar will always be a dinar in the country&#8230;but outside the country whatever currency it is exchanged for&#8230;well that can be a different story.<\/span><\/strong><br \/>\n______________________________________________________________<\/p>\n<h2><span style=\"color: #000080;\"><strong>Iraqi Dinar\/Dollar auction (most recent listing) 09-18-16<\/strong><\/span><\/h2>\n<p><strong>Currency Auctions Announcement No. 3278<\/strong><\/p>\n<p>This daily currency auction was held in the Central Bank of Iraq on the 09-18-2016<\/p>\n<p><strong>The results were as follows:<\/strong><\/p>\n<table border=\"0\" cellspacing=\"0\" cellpadding=\"4\" align=\"center\">\n<tbody>\n<tr>\n<td bgcolor=\"#6699cc\">DETAILS<\/td>\n<td bgcolor=\"#6699cc\">NOTES<\/td>\n<\/tr>\n<tr>\n<td>Number of banks<\/td>\n<td>34<\/td>\n<\/tr>\n<tr>\n<td>Number of remittance companies<\/td>\n<td>15<\/td>\n<\/tr>\n<tr>\n<td>Auction price selling dinar \/ US$<\/td>\n<td>1182<\/td>\n<\/tr>\n<tr>\n<td>Auction price buying dinar \/ US$<\/td>\n<td>&#8212;&#8211;<\/td>\n<\/tr>\n<tr>\n<td>Amount sold at auction price (US$)<\/td>\n<td>127,161,362<\/td>\n<\/tr>\n<tr>\n<td>Amount purchased at Auction price (US$)<\/td>\n<td>&#8212;&#8211;<\/td>\n<\/tr>\n<tr>\n<td>Total offers for buying (US$)<\/td>\n<td>127,161,362<\/td>\n<\/tr>\n<tr>\n<td>Total offers for selling (US$)<\/td>\n<td>&#8212;&#8211;<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p><em style=\"text-align: center;\"><span style=\"font-style: normal;\"><em><strong><em><strong>More: <a href=\"http:\/\/dinarupdates.com\/blog\/\" target=\"_blank\" rel=\"nofollow\">http:\/\/dinarupdates.com\/blog\/<\/a><\/strong><\/em><\/strong><\/em><\/span><\/em><\/p>\n<h2><span style=\"color: #0000ff;\"><em>BGG ~ Auctions are back online (meaning they are back to business)&#8230;<\/em><\/span><\/h2>\n<p>______________________________________________________________<\/p>\n<p><strong><span style=\"color: #c23b3b;\">Enorrste (Dinar Guru) &#8211;<\/span><\/strong><span style=\"color: #c23b3b;\">\u00a0<\/span>\u00a0 &#8230;the IQD will be destroyed as they come in over time. \u00a0<strong><span style=\"text-decoration: underline;\">It will take some time to reduce the money supply from 40 trillion dinars to 40 billion dinars. \u00a0As this is done the value will increase<\/span>.\u00a0<\/strong>\u00a0It must be done incrementally to avoid a liquidity crisis. \u00a0With respect to the 50K notes they did NOT increase the money supply. \u00a0They were issued in exchange for 25000 notes so it was an even exchange. \u00a0The 25000 notes are either being held at the CBI (thus not part of the money supply, just as any new money held there is not part of the money supply until it is issued) or it has been destroyed. \u00a0<strong>T<span style=\"text-decoration: underline;\">he slight rise in the money supply is caused by the CBI in order to maintain liquidity and has nothing directly to do with the 50K notes.<\/span>\u00a0\u00a0&#8230;the 50K notes have done their job: \u00a0hence, no need for the 100K notes<\/strong>. \u00a0<span style=\"text-decoration: underline;\"><strong>That job was to initiate the removal of the 25K notes from people&#8217;s mattresses. \u00a0It will be excelerated by the offer of the dinar at 1200 per dollar through these major banks.<\/strong><\/span><br \/>\n______________________________________________________________<\/p>\n<p><strong><span style=\"color: #c23b3b;\">Frank26 (Dinar Guru) &#8211; <\/span><\/strong>\u00a0\u00a0 [<em>Do you think Frank that Iraq is going to meet the window that the IMF is giving them in the Arabic side of the CBI I believe November&#8230;<\/em>?]\u00a0<span style=\"text-decoration: underline;\"><strong>\u00a0Well again I don\u2019t know&#8230;that is what we are hoping for&#8230;but we will learn more about that status when they come back around the 18th<\/strong><\/span>&#8230;you think they are on vacation&#8230;you think they are celebrating Eid&#8230;no&#8230;no&#8230;<strong>they are working like dogs&#8230;because they cannot afford to bite the hand that feeds them any longer.<\/strong><br \/>\n______________________________________________________________<\/p>\n<p><strong><span style=\"color: #c23b3b;\">Kaperoni (Dinar Guru) &#8211; <\/span><\/strong><span style=\"color: #c23b3b;\">\u00a0<\/span>\u00a0 Article:\u00a0 &#8220;<em>Parliamentary Finance calls to control the rate of the dinar against the dollar<\/em>&#8221;\u00a0\u00a0 I will say it again&#8230;Balassa-Samuelson effect.\u00a0\u00a0<strong><span style=\"text-decoration: underline;\">Once they accept Article VIII (they have to stabilize the exchange rate, spread and meet other conditions first), they then will float the dinar to counter inflationary pressure created by the influx of investment and investors.\u00a0 This will cause the dinar to appreciate in value.<\/span><\/strong>\u00a0\u00a0It will not happen overnight, but it will happen gradually.\u00a0 With the introduction of the 50, 100, 200 planned for early 2017, we can hope that the dinar will be worth .10 cents by then.<br \/>\n______________________________________________________________<\/p>\n<h2><span style=\"color: #800000;\"><strong>Central Bank: No category million dollars and we deal<\/strong><\/span><\/h2>\n<p><strong><a href=\"https:\/\/i0.wp.com\/www.dinarupdates.com\/blog\/wp-content\/uploads\/2016\/09\/28534.jpg\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"  wp-image-23430 alignleft\" alt=\"28534\" src=\"https:\/\/i0.wp.com\/www.dinarupdates.com\/blog\/wp-content\/uploads\/2016\/09\/28534.jpg?resize=325%2C244\" width=\"325\" height=\"244\" \/><\/a>Long-Presse \/ Baghdad &#8211;\u00a0<\/strong>It said an informed source at the Central Bank of Iraq, on Wednesday, that there is no currency of one million dollars a category, and among that this currency is real and may be used to waddle or games, he stressed that a higher currency Bank deals with are a class of ($ 100).<br \/>\nThe source said in an interview (Amdy Press), said that &#8220;the trading day in the Iraqi market and among the citizens of the existence of a class coin (one million dollars), is not true and there is no such a category,&#8221; he said, &#8220;that category may be for the purposes of Strutting ( gift), or used for the Games. &#8221;<\/p>\n<p>The source, who not to be named, said, &#8220;The Central Bank does not deal with that group, and that the highest category in the dollar coin is ($ 100), so the Central Bank does not deal with that category one million dollars because that does not exist.&#8221;<br \/>\nAnd circulation of citizens and the Iraqi market news for the currency of the category million people exchanged presence as part of a new currency will be worked out in the country.<\/p>\n<h2><em><strong><a href=\"https:\/\/www.almadapress.com\/ar\/news\/76500\/%D8%A7%D9%84%D8%A8%D9%86%D9%83_%D8%A7%D9%84%D9%85%D8%B1%D9%83%D8%B2%D9%8A_%D9%84%D8%A7_%D8%AA%D9%88%D8%AC%D8%AF_%D9%81%D8%A6%D8%A9_%D9%85%D9%84%D9%8A%D9%88%D9%86_%D8%AF%D9%88%D9%84%D8%A7%D8%B1_%D9%88%D9%84%D8%A7_%D9%86%D8%AA%D8%B9%D8%A7%D9%85%D9%84_%D8%A8%D9%87%D8%A7\" target=\"_blank\">Article Link<\/a><\/strong><\/em><\/h2>\n<p>______________________________________________________________<\/p>\n<p><strong><span style=\"color: #c23b3b;\">Enorrste (Dinar Guru) &#8211; <\/span><\/strong>\u00a0\u00a0 I might add one more point: \u00a0<strong>by using this strategy the need for the issuance of the 100,000 dinar note is eliminated.\u00a0<\/strong>\u00a0Originally this note was going to be introduced so that the 25000 dinar notes hidden in mattresses could be drawn out. \u00a0However, that is only a false ameliorative, since those 4 25000 dinar notes would still be replaced with another dinar note (although larger). \u00a0<strong><span style=\"text-decoration: underline;\">However, through this new strategy of exchanging dinar at 1200 per dollar the large 25000 dinar notes can be drawn out of the mattresses WITHOUT replacing them with other dinar notes, thus allowing a direct reduction in the money supply<\/span>.<\/strong>\u00a0 [post 3 of 3]<br \/>\n______________________________________________________________<\/p>\n<p><strong><span style=\"color: #c23b3b;\">Enorrste (Dinar Guru) &#8211;<\/span><\/strong>\u00a0\u00a0\u00a0<strong>As the dinars in mattresses are removed and sent to the CBI through these major banks they can be destroyed, thus allowing the CBI to reduce the money supply. \u00a0<span style=\"text-decoration: underline;\">Remember, they have to reduce it gradually as the value of the dinar rises.<\/span><\/strong>\u00a0\u00a0The reduction is enormous, from 40 trillion dinar to 40 billion dinar. \u00a0This is a part of the mechanism that will make this possible. \u00a0If the dinar in mattresses do not come out then the float cannot begin or, if it does begin, there will not be enough upward pressure to raise its value UNTIL the mattress money is removed. \u00a0<span style=\"text-decoration: underline;\"><strong>Thus this move by these two major banks (initiated by the IMF) will help to kick-start that removal process.<\/strong><\/span>\u00a0\u00a0[post 2 of 3&#8230;.stay tuned]<br \/>\n______________________________________________________________<\/p>\n<p><strong><span style=\"color: #c23b3b;\">Enorrste (Dinar Guru) &#8211;<\/span><\/strong><span style=\"color: #c23b3b;\">\u00a0<\/span>\u00a0Article:\u00a0 &#8220;<em>The central bank determines the sale of $ 5000 for citzens across the bank Rafidain and Rasheed<\/em>&#8221;\u00a0\u00a0If these two major banks are now selling the dinar at 1200 per dollar what do you think will happen in the short term, especially since the street rate is 1290 per dollar?\u00a0<strong>The answer is two-fold: \u00a0<span style=\"text-decoration: underline;\">first, this will put downward pressure on the street rate&#8230;to bring it in line with the official rate, or at least within 2% of that rate (a requirement of the IMF for entry into Article VIII)<\/span>; but secondly, and this has not yet been mentioned, the lower 1200 per dollar rate will quickly draw in large amounts of dinar from the mattresses of those who were frustrated because the street rate was so low compared to the official rate<\/strong>.\u00a0\u00a0<strong><span style=\"text-decoration: underline;\">This is the secondary but extremely important factor that will be necessary in order to move to a float<\/span><\/strong>.\u00a0\u00a0[post 1 of 3&#8230;.stay tuned]<br \/>\n______________________________________________________________<\/p>\n<h1><span style=\"color: #800000;\">Iraq:<\/span><\/h1>\n<h2>Letter of Intent, Memorandum of Economic and Financial<br \/>\nPolicies, and Technical Memorandum of Understanding<\/h2>\n<p><center><a href=\"https:\/\/www.dinarupdates.com\/blog\/wp-content\/uploads\/2016\/09\/122215-LOI.pdf\" class=\"pdfemb-viewer\" style=\"width:500px;height:700px;\" data-width=\"500\" data-height=\"700\" data-toolbar=\"both\" data-toolbar-fixed=\"on\">122215-loi<\/a><\/center><br \/>\n______________________________________________________________<\/p>\n<p><strong><span style=\"color: #c23b3b;\">Delta (Dinar Guru) &#8211;<\/span><\/strong><span style=\"color: #c23b3b;\">\u00a0\u00a0<\/span>\u00a0I have some information about the IMF meeting with Iraq&#8230;<span style=\"text-decoration: underline;\"><strong>it looks like we might have a window for the date of the currency reform or basically the revaluation of the dinar<\/strong><\/span>&#8230;I just read it in Arabic&#8230;there seems to be a window that the IMF has given Iraq&#8230;<strong>they told them you have to finish the Monetary Reform of your currency<\/strong>&#8230;the internet is not seeing this in Arabic&#8230;<strong><span style=\"text-decoration: underline;\">it says in Arabic they told them to finish the Monetary Reform&#8230;and the Economic Reforms before November<\/span>&#8230;<\/strong><br \/>\n______________________________________________________________<\/p>\n<p><strong><span style=\"color: #c23b3b;\">Frank26 (Dinar Guru) &#8211;<\/span><\/strong>\u00a0\u00a0 &#8230;the information that is on the CBI website in Arabic makes it very clear&#8230;[Guru] DELTA translated it for us&#8230;and\u00a0<strong>it said very clearly&#8230;at this meeting the IMF told Iraq&#8230;look you\u2019ve done these things&#8230;but you have not done two things&#8230;if you want your loans&#8230;and that is what&#8230;articles are backing it up again&#8230;<span style=\"text-decoration: underline;\">if you want your loans so you can complete your Economic Reforms&#8230;do the Monetary Reform<\/span>&#8230;if not&#8230;IMO we will come in and we will do everything.<\/strong><br \/>\n______________________________________________________________<\/p>\n<p><strong><span style=\"color: #c23b3b;\">Kaperoni (Dinar Guru) &#8211;<\/span><\/strong><span style=\"color: #c23b3b;\">\u00a0<\/span>\u00a0Article:\u00a0 &#8220;<em>Rasheed Bank proceed to sell the dollar for travelers dinars 1200<\/em>&#8221;\u00a0\u00a0\u00a0<strong><span style=\"text-decoration: underline;\">This should quickly reduce the spread to within 2% as others follow to compete.<\/span>\u00a0\u00a0Again, the CBI is trying to get in compliance.\u00a0\u00a0<\/strong>This is great news to meet the IMF directive in the SBA.<br \/>\n______________________________________________________________<\/p>\n<p><strong><span style=\"color: #c23b3b;\">tlm724 (Dinar Guru) &#8211;<\/span><\/strong><span style=\"color: #c23b3b;\">\u00a0<\/span>\u00a0 [&#8230;<em>does the B- rating concern you about our investment<\/em>?]<strong>\u00a0 \u00a0I think it&#8217;s a good rating and that rating is appropriate for Iraq given the current circumstances.\u00a0 Money is the incentive and Iraq will do whatever is needed to keep those funds moving and comply with the SBA.<\/strong>\u00a0 Finch is showing us that they are indeed flexible with this rating and it&#8217;s essentially up to Iraq to make the needed improvements&#8230; Security is improving with the march on to Mosul.\u00a0<strong>IF they actually reach a firm and implemented agreement with the Kurds with full participation from both sides this will increase their rating also.\u00a0All in all Iraq is on the right track.<\/strong><br \/>\n______________________________________________________________<\/p>\n<h1>IRAQ<\/h1>\n<h2><span style=\"color: #800000;\">STAFF-MONITORED PROGRAM\u2014PRESS RELEASE; AND<\/span><br \/>\n<span style=\"color: #800000;\"> STAFF REPORT<\/span><\/h2>\n<p><center><a href=\"https:\/\/www.dinarupdates.com\/blog\/wp-content\/uploads\/2016\/09\/cr1611.pdf\" class=\"pdfemb-viewer\" style=\"width:500px;height:700px;\" data-width=\"500\" data-height=\"700\" data-toolbar=\"both\" data-toolbar-fixed=\"on\">cr1611<\/a><\/center><br \/>\n______________________________________________________________<\/p>\n<p><strong><span style=\"color: #c23b3b;\">Kaperoni (Dinar Guru) &#8211;<\/span>\u00a0<\/strong>\u00a0\u00a0So we can see here that\u00a0the CBI is doing exactly what the IMF dictated.\u00a0\u00a0<strong><span style=\"text-decoration: underline;\">And they are moving closer to accepting the obligations (don&#8217;t know the date) of Article VIII.\u00a0 Which we all know Article VIII is the &#8220;key&#8221; to make the dinar internationally convertible and as a result would remove the dinar from the peg at that time and allow it to float<\/span>.<\/strong>\u00a0\u00a0\u00a0 IMO, they are moving towards the goals of early 2017 (remember the 3 notes the CBI wants to bring out!) \u00a0 Gotta love the line&#8230;.&#8221;<em>Such a move towards acceptance of the obligations under Article VIII of the IMF\u2019s Articles of Agreement will send a positive signal to the investor community<\/em>&#8221;\u00a0<strong>\u00a0<span style=\"text-decoration: underline;\">It really is fantastic news because the IMF is not going to let the CBI and banking system stay closed to the world much longer.\u00a0 The plan is in action.<\/span>\u00a0\u00a0<\/strong>\u00a0 [post 2 of 2]<br \/>\n______________________________________________________________<\/p>\n<p><strong><span style=\"color: #c23b3b;\">Kaperoni (Dinar Guru) &#8211;<\/span>\u00a0<\/strong>\u00a0\u00a0\u00a0<strong>this should get us all excited&#8230;From the IMF SBA&#8230;:\u00a0<\/strong>\u00a0 &#8220;<em>The authorities will gradually remove remaining exchange restrictions and multiple currency practice (MCP) (MEFP, 14).\u00a0<strong><span style=\"text-decoration: underline;\">Such a move towards acceptance of the obligations under Article VIII of the IMF\u2019s Articles of Agreement will send a positive signal to the investor community\u00a0<\/span>that Iraq is committed to maintain an exchange system that is free of restrictions and MCPs for current international transactions and thus facilitate creation of a favorable business climate<\/strong>.9 As a first step, the Council of Ministers will approve and introduce to parliament an amendment of the Investment Law, or the CBI will issue clarifying implementing regulations, to remove the limitation on transfer of investment proceeds that gives rise to an exchange restriction (SB, Table 5), as recommended by a recent technical assistance mission of the IMF.\u00a0<strong><span style=\"text-decoration: underline;\">As a second step, the CBI will increase the sale of foreign exchange for valid current exchange transactions on the official market in order to reduce the spread between the official and parallel exchange rates\u00a0<\/span>(10). In particular, the CBI will, by the end of 2016, make the weekly limits on the purchase of cash at the weekly foreign currency auctions indicative, in the sense that any bank requiring additional cash for legitimate travel expenses for its clients will be able to obtain the required amount above these limits on the basis of appropriate documentation<\/strong>.<\/em>&#8221;\u00a0\u00a0 [post 1 of 2&#8230;.stay tuned]<br \/>\n______________________________________________________________<\/p>\n<p><strong><span style=\"color: #c23b3b;\">Adam Montana (Dinar Guru) &#8211;<\/span>\u00a0\u00a0\u00a0<\/strong>[<em>Does the Fitch rating need to get better before Iraq could RV, or would an RV increase Iraq&#8217;s Fitch rating<\/em>?]\u00a0<strong>\u00a0I did see that Iraq was given a B- or close to that recently? Over the last few years they have maintained a very consistent and very good quality rating, which tells us that they are pulling forward consistently. That&#8217;s better than what a lot of other countries have done! Just another reason to hang tight and root them on.<\/strong><br \/>\n______________________________________________________________<\/p>\n<p><strong><span style=\"color: #c23b3b;\">Shredd\u00a0(Dinar Guru) &#8211;<\/span>\u00a0 \u00a0<\/strong>[&#8230;<em>does the B- rating concern you about our investment? And does the rating have to improve to have the significant increase we&#8217;re looking for<\/em>?]\u00a0<strong>\u00a0Not at all. Increasing the rating will take significant time and impacts the interest paid on sovereign loans.\u00a0<span style=\"text-decoration: underline;\">That said, because of the tremendous support Iraq continues to get, such as the soft loans, this is not having much of an impact.<\/span><\/strong><br \/>\n______________________________________________________________<\/p>\n<h1><span style=\"color: #000000;\"><strong>IRAQ<\/strong><\/span><\/h1>\n<h2><span style=\"color: #800000;\">FIRST AND SECOND REVIEWS OF THE STAFF-MONITORED PROGRAM AND REQUEST FOR A THREE-YEAR STAND-BY ARRANGEMENT\u2014PRESS RELEASE; STAFF REPORT; AND STATEMENT BY THE EXECUTIVE DIRECTOR FOR IRAQ<\/span><\/h2>\n<p><center><a href=\"https:\/\/www.dinarupdates.com\/blog\/wp-content\/uploads\/2016\/09\/cr16225.pdf\" class=\"pdfemb-viewer\" style=\"width:500px;height:700px;\" data-width=\"500\" data-height=\"700\" data-toolbar=\"both\" data-toolbar-fixed=\"on\">cr16225<\/a><\/center><br \/>\n______________________________________________________________<\/p>\n<p><strong><span style=\"color: #c23b3b;\">Kaperoni (Dinar Guru) &#8211;<\/span><\/strong>\u00a0\u00a0Article:\u00a0 &#8220;<em>IMF thank Iraq on &#8220;fruitful cooperation and candor,&#8221; the first revision of the standby credit agreement<\/em>&#8221;\u00a0\u00a0\u00a0\u00a0I just love how the IMF works.\u00a0<strong>\u00a0It is clear, the SBA was the roadmap.\u00a0\u00a0<span style=\"text-decoration: underline;\">And these subsequent meetings in Jordan check progress before the next installment loan.<\/span>\u00a0 It is very obvious, the CBI was behind on the conditions the SBA &#8220;plan&#8221; had for the banking system.\u00a0\u00a0<span style=\"text-decoration: underline;\">So they get their orders and return to Iraq and have 30 or so days to get caught up before the next October meetings.\u00a0\u00a0\u00a0<\/span><\/strong><br \/>\n______________________________________________________________<\/p>\n<p><strong><span style=\"color: #c23b3b;\">Adam Montana (Dinar Guru) &#8211;<\/span><\/strong><span style=\"color: #c23b3b;\">\u00a0<\/span>\u00a0\u00a0 [<em>Just to clarify things again. I thought an HCL law passage was or is not a factor into any implementation of an RV<\/em>.]\u00a0\u00a0\u00a0<strong>It&#8217;s not &#8220;mandatory&#8221;, but I place it high in my personal opinion of catalysts for the RV.\u00a0\u00a0\u00a0<\/strong>[<em>In your opinion, do you feel that in this end 1\/4 of October Iraq will pull the RV trigger or do you feel it will be in 2017?\u00a0 I&#8217;m in the camp of 2017<\/em>.]\u00a0<strong>\u00a0I won&#8217;t give a date, but I&#8217;ve made it clear that I&#8217;m positive for progress in the coming weeks\/month.<\/strong>\u00a0 [<em>Do you think most of will actually live long enough to see an actual RV<\/em>?]\u00a0<strong>\u00a0Yes.<\/strong><br \/>\n______________________________________________________________<\/p>\n<p><strong><span style=\"color: #c23b3b;\">Mnt Goat (Dinar Guru) &#8211;<\/span><\/strong>\u00a0\u00a0<em>\u00a0Won&#8217;t all the hedge funds and investors scoop up the currency and cause a rush on it<\/em>?\u00a0\u00a0<strong>Yes &#8211; I am told this may happen and the rate could go very high over a period of time. The float, however, will be a &#8220;fixed&#8221; float meaning it will have a limit.<\/strong>\u00a0They are not telling me the limit as it is sensitive information&#8230;of course.\u00a0<strong>But we did hear Dr Shabibi say in the past that the IQD could sustain up to a value of $16 USD per dinar.\u00a0<\/strong>This is all we know as FACTUAL and so I will not spread any rumors, hype or speculation on the future value of the dinar.\u00a0 No Rumors, No Hype, just the FACTS, as always!\u00a0\u00a0 [post 2 of 2]<br \/>\n______________________________________________________________<\/p>\n<p><strong><span style=\"color: #c23b3b;\">Mnt Goat (Dinar Guru) &#8211;<\/span><\/strong><span style=\"color: #c23b3b;\">\u00a0<\/span>\u00a0 &#8230;THE ECONOMIC AND FINANCIAL REFORMS ARE ALMOST ALL COMPLETED&#8230;\u00a0\u00a0<strong>I am still on the path of window from Sept 1st 2016 to January 2017 to see a significant rise in the value of the IQD. I firmly expect to see between now and January to see the launching of the lower denominations (but no coins yet).<\/strong>\u00a0When the CBI does launch the new notes (lower denominations) the IQD value will not change. I repeat will not change and the swap (or exchange) by the citizens within Iraq will be a 1:1 meaning the value will be a swap of 1 dollar value for something worth one dollar value.<strong>\u00a0 I am being told by my CBI contact that if all goes according to plan we can expect a 90 cents to $1.17 USD rate change within a couple weeks after the newer notes are launched, but only when it is launched AND finally moved to the international exchanges. At this time the plan now is that the currency will be on a float and will no longer be stickily pegged to the USD (as it is today). Instead they plan to move it to a &#8220;basket of currencies&#8221;.\u00a0<\/strong>\u00a0 [post 1 of 2&#8230;.stay tuned]<br \/>\n______________________________________________________________<\/p>\n<h1><span style=\"color: #008000;\"><strong>Follow us on twitter @DinarUpdates !!<\/strong><\/span><\/h1>\n<h2><strong><a href=\"https:\/\/i0.wp.com\/www.dinarupdates.com\/blog\/wp-content\/uploads\/2014\/03\/images-11.jpg\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"alignleft\" title=\"images (1)\" alt=\"follow Dinar Updates on twitter\" src=\"https:\/\/i0.wp.com\/www.dinarupdates.com\/blog\/wp-content\/uploads\/2014\/03\/images-11.jpg?resize=133%2C130\" width=\"133\" height=\"130\" \/><\/a><span style=\"color: #ff0000;\">Don&#8217;t MISS &#8211; &#8220;DU NEWS TIME&#8221; w\/RCookie, Mr White &amp; Hutch\u00a0<\/span><\/strong><strong><span style=\"color: #ff0000;\">in the DU CHAT ROOM &#8211; Thursday 7:30pm EST<\/span><\/strong><\/h2>\n<h2><strong><a href=\"http:\/\/www.dinarupdates.com\/\" target=\"_blank\" rel=\"nofollow\">www.DinarUpdates.com<\/a> &#8211; save as favorite<\/strong><\/h2>\n<p>______________________________________________________________<\/p>\n<p><strong><span style=\"color: #c23b3b;\">Adam Montana (Dinar Guru) &#8211;<\/span><\/strong>\u00a0\u00a0 Not much to report today in Iraqi news or Dinar progress, but\u00a0I kind of expected that.\u00a0<strong>\u00a0&#8230;I&#8217;m leaning\u00a0on October to be a big month in our news. My primary reason for not expecting much out of this week is\u00a0their last long holiday of the year, Eid-al-Fitr&#8230;Eid-al-Fitr goes till Friday this week, and then we\u00a0don&#8217;t have any more long holidays in the immediate future<\/strong>&#8230; which hopefully means they will be getting some WORK done.<br \/>\n______________________________________________________________<\/p>\n<p><strong><span style=\"color: #c23b3b;\">Backdoc (Dinar Guru) &#8211;<\/span><\/strong>\u00a0\u00a0 [&#8230;<em>we have friends who have only VND. IYO, do you see them RVing any time soon or maybe next year<\/em>?]\u00a0\u00a0\u00a0\u00a0<strong>THEY ALL START THE RACE TOGETHER IMHO! CAN&#8217;T HAVE DOUBLE DIPPING BECAUSE IT WOULD DAMAGE THE CURRENCIES THAT GO AT A LATER DATE!\u00a0<\/strong>\u00a0<strong>IT WOULD INCREASE THEIR NOTE COUNT TOO MUCH.<\/strong>\u00a0 I BELIEVE IT WILL BE AN ASIAN SURPRISE! IMO.<br \/>\n______________________________________________________________<\/p>\n<p><strong><span style=\"color: #c23b3b;\">Islandg1211\u00a0(Dinar Guru) &#8211;<\/span><\/strong>\u00a0\u00a0<em>The obvious biggest question is when is the IMF requiring the CBI to RV<\/em>?\u00a0 Unfortunately, they don&#8217;t directly state that. They stated in their December 2015 LOI that they wanted Iraq to join the international community &#8220;by mid-year.&#8221;\u00a0<strong><span style=\"text-decoration: underline;\">Their June LOI states that the IMF wants the CBI to cut out their Multiple Currency Practices and move to Article VIII compliance &#8211; which requires the RV &#8211; &#8220;by the end of the year.&#8221;<\/span>\u00a0<\/strong>\u00a0The IMF is on top of exactly what Iraq is and is not getting done on time. That comes out through these articles on Friday&#8217;s meeting.\u00a0 [post 3 of 3]<br \/>\n______________________________________________________________<\/p>\n<h2 style=\"text-align: center;\"><span style=\"color: #008000;\"><strong>Dinar Updates \u201cAFTER CALL &#8211; LIVE\u201d!!<\/strong><\/span><\/h2>\n<h1 style=\"text-align: center;\"><em><strong><span style=\"color: #0000ff;\">\u201cDinar Q &amp; A Call!!\u201d<\/span><br \/>\n<span style=\"color: #ff0000;\">from Thurs &#8211; &#8220;After Call &#8211; LIVE&#8221;<br \/>\nw\/RCookie, Mr White &amp; Hutch<\/span><\/strong><\/em><\/h1>\n<h2 style=\"text-align: center;\"><strong><a href=\"https:\/\/d.pr\/RPzG\" target=\"_blank\" rel=\"nofollow\">Smart phone user link \u2013 Click here<\/a><\/strong><\/h2>\n<p>______________________________________________________________<\/p>\n<p><strong><span style=\"color: #c23b3b;\">Breitling\u00a0(Dinar Guru) &#8211;<\/span><\/strong>&#8230;<strong>There\u2019s an article taking about de-pegging from the US dollar.<\/strong>\u00a0 Ok just pure math.\u00a0\u00a0<strong><span style=\"text-decoration: underline;\">We know the US dollar dominate about 70% of the world\u2019s international trade.<\/span><\/strong>\u00a0 Just based on that math\u2026<strong><span style=\"text-decoration: underline;\">do you think that it would be a good idea for Iraq to de-peg itself from the most powerful currency that\u2019s ever existed on the face of the earth?<\/span><\/strong>\u00a0 Do you think that is a wise decision?\u00a0 Do you think the US treasury and US government setting up their currency\u2026we\u2019re the ones who got rid of their old currency and we\u2019re the ones to help setup their new currency\u2026do you think there is any room for that type of shenanigans?\u00a0 No there is not.\u00a0\u00a0<strong>I appreciate articles that come out but some of them are so obnoxious that they should be indicators all by themselves that the person who wrote that is completely off the wal<\/strong>l.\u00a0 They are not going to de-peg from the US dollar.\u00a0\u00a0<strong><span style=\"text-decoration: underline;\">This is not opinion at all\u2026the US dollar is getting stronger and stronger and stronger<\/span><\/strong>.<br \/>\n______________________________________________________________<\/p>\n<p><strong><span style=\"color: #c23b3b;\">Kaperoni (Dinar Guru) &#8211;<\/span><\/strong><span style=\"color: #c23b3b;\">\u00a0<\/span>\u00a0Article:\u00a0 &#8220;<em>The central bank determines the sale of $ 5000 for citzens across the bank Rafidain and Rasheed<\/em>&#8221;\u00a0\u00a0\u00a0Quote:\u00a0\u00a0\u201c<em>&#8230;the central bank boosted bank balance Rafidain and Rasheed dollar in order to direct the sale of hard currency from the dollar to citizens traveling outside of Iraq<\/em>.\u201d\u00a0<strong>\u00a0<span style=\"text-decoration: underline;\">I like how the CBI has these meetings with the IMF and when they come home, they usually do something right away.\u00a0<\/span>Clearly the IMF told them last weekend, raise the minimum at the banks.<\/strong><br \/>\n______________________________________________________________<\/p>\n<p><strong><span style=\"color: #c23b3b;\">Kaperoni (Dinar Guru) &#8211;<\/span><\/strong><span style=\"color: #c23b3b;\">\u00a0\u00a0<\/span>\u00a0Article:\u00a0 &#8220;<em>The central bank determines the sale of $ 5000 for citzens across the bank Rafidain and Rasheed<\/em>&#8221;\u00a0\u00a0Quote:\u00a0 &#8220;<em>The Iraqi Central Bank announced on Tuesday (September 6), the processing bank Rafidain and Rasheed exchange of foreign currency to the dollar expansion of cash sales outlets to citizens via their branches in the capital Baghdad and the provinces<\/em>.&#8221;\u00a0\u00a0\u00a0<strong>More good news.\u00a0\u00a0<span style=\"text-decoration: underline;\">They are following the IMF concerns and liberalizing the foreign exchange.<\/span>\u00a0\u00a0<\/strong><br \/>\n______________________________________________________________<\/p>\n<h1><span style=\"color: #800000;\">Central bank: there is no process of converting $ 6 billion out of Iraq<\/span><\/h1>\n<p><a href=\"https:\/\/i0.wp.com\/www.dinarupdates.com\/blog\/wp-content\/uploads\/2016\/09\/CBI.jpg\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\" size-full wp-image-23361 aligncenter\" alt=\"cbi\" src=\"https:\/\/i0.wp.com\/www.dinarupdates.com\/blog\/wp-content\/uploads\/2016\/09\/CBI.jpg?resize=485%2C258\" width=\"485\" height=\"258\" \/><\/a><strong>BAGHDAD \/ obelisk:<\/strong> The Central Bank announced the absence of any transfer of $ 6 billion and $ 455 million operation to calculate Hamad al-Moussawi outside Iraq.<\/p>\n<p>According to the central bank sent the book to the Committee on Parliamentary Integrity, on 4 September 2016 to the absence of any transfer of $ 6 billion and $ 455 million outside Iraq to account Hamad al-Moussawi.<\/p>\n<p>He held the book signing bank governor agency.<\/p>\n<p>The leaked documents, indicated that al-Moussawi, fled the above amount to outside Iraq, and the issue was raised again by the Finance Minister Hoshyar Zebari said after the questioning session&#8230;<\/p>\n<p><em><strong>Read More:\u00a0<a href=\"http:\/\/www.dinarupdates.com\/blog\/\" target=\"_blank\">http:\/\/www.dinarupdates.com\/blog\/<\/a><\/strong><\/em><br \/>\n______________________________________________________________<\/p>\n<p><strong><span style=\"color: #c23b3b;\">Backdoc (Dinar Guru) &#8211;<\/span><\/strong><span style=\"color: #c23b3b;\">\u00a0\u00a0\u00a0<\/span>LOTS OF INFO BUT MOST OF MY STUDIES ARE TOO SENSITIVE TO TALK ABOUT.\u00a0\u00a0<strong>WE ALL KNOW HOW IRAQ REDUCED ITS NOTE COUNT BY DOING THE CURRENCY AUCTIONS BY SELLING\u00a0 DOLLARS AND PULLING IN DINAR.\u00a0\u00a0<\/strong>\u00a0THEY METHODICALLY DESTROYED THE PAPER THUS REDUCING THE NOTE COUNT!\u00a0<strong>\u00a0I LOVED SEEING THAT ARTICLE ON THE 7TH THAT STATED IRAQ HAD ENDED ITS INTERNATIONAL FINANCIAL MESSAGING SERVICE!\u00a0 YES A COMPLETION ON THE 7TH!\u00a0\u00a0<\/strong>OF COURSE THEY WERE BEING SNEAKY ON HOW THEY STATED IT BUT WE ALL KNOW THAT WAS THE SWIFT CODE RIGHT? RIGHT!\u00a0<strong>\u00a0THEY ARE NOW E-DINAR AS THEY SAID THEY WOULD BE!\u00a0 SO OBVIOUSLY THEY ARE NOW ON THE THE CIPS WHICH IS THE NEW DIGITAL PLATFORM WHICH CAN RUN BOTH!\u00a0<\/strong>\u00a0[post 1 of 2&#8230;.stay tuned]<br \/>\n______________________________________________________________<\/p>\n<p><strong><span style=\"color: #c23b3b;\">Mailman17 (Dinar Guru) &#8211;<\/span><\/strong><span style=\"color: #c23b3b;\">\u00a0<\/span>\u00a0<strong><span style=\"text-decoration: underline;\">THEIR MAIN CONCERN IS WHATS INSIDE IRAQ, NOT OUTSIDE<\/span>.<\/strong>\u00a0WHAT WE HOLD IS NOTHING IN THE GRAND SCHEME OF THINGS AS THAT ALSO WILL FIND ITS WAY INTO OUR TREASURY AS OTHER COUNTRIES AS WELL.\u00a0<strong><span style=\"text-decoration: underline;\">SHABS [DR. SHABIBIS]\u00a0PLAN FROM DAY ONE WAS AND ALWAYS WILL BE ON PAR 1-1 AS HE HAS STATED MANY TIMES. A 1-1<\/span>\u00a0WITH IRAQ BACKING ONLY A SMALL % OF PHYSICAL DINAR IS VERY PLAUSIBLE, ESPECIALLY IN REGARDS TO OTHER ASSETS THEY HOLD OTHER THAN GOLD. REMEMBER PHOSPHORUS?<\/strong>\u00a0I DO THINK MOSUL IS A LOT FURTHER ALONG THAN REPORTS SHOW.\u00a0\u00a0<strong>IT IS THE LAST DOMINO IMO AND WE JUST WAIT FOR THE ANNOUNCEMENT. THEN I BELIEVE REFORMS WILL TAKE OFF ASAP.<\/strong>\u00a0AND I HATE TO BRING UP HISTORY, BUT IRAQS FINANCIALS AS REPORTED ARE QUESTIONABLE AT BEST AS THEY HAVE BEEN FOUND WITH 2 SETS OF BOOKS IN THE PAST. SOMETIMES WHAT YOU SEE ISNT ALWAYS WHAT IT IS. IRAQ IS READY&#8230;ARE YOU? I KNOW I AM&#8230;AS ALWAYS JMHO.\u00a0 [post 2 of 2]<br \/>\n______________________________________________________________<\/p>\n<p><strong><span style=\"color: #c23b3b;\">Mailman17 (Dinar Guru) &#8211;<\/span><\/strong>\u00a0\u00a0 I DO AGREE WITH [GURU] BREITLING AS FAR AS IRAQ GETTING THE NOTE COUNT DOWN, BUT,<strong>\u00a0AS MUCH AS THE NOTE COUNT MATTERS, ITS WHAT REPRESENTS THE M2 THAT REALLY MATTERS IMO&#8230;THEIR M FACTOR REPRESENTS NOT ONLY PHYSICAL DINAR BUT DINAR ON THE BOOKS AS NUMBERS AND NOT ACTUAL PHYSICAL CURRENCY.<\/strong>\u00a0WE ALSO HAVE TO REMEMBER JUST HOW MUCH ACTUAL DINAR IS BEING HELD AS BACKUP CURRENCY BY OTHER NATIONS, ESPECIALLY THE PARIS CLUB. HISTORY TELLS US THE US ORIGINALLY LENT IRAQ 20 BILLION U.S.\u00a0IN LIEU OF DINAR.\u00a0 AT THAT TIME THE RATE WAS 4000-1. ADD IN THE OTHER MAJOR COUNTRIES, AND\u00a0<strong><span style=\"text-decoration: underline;\">41 TRILLION ISNT THAT MUCH FOR IRAQ TO HANDLE BECAUSE THE MAJORITY OF THAT IS FOREIGN CURRENCY RESERVE FOR OTHER COUNTRIES<\/span>.<\/strong>\u00a0 [reference Guru Breitling post 9-13-2016]\u00a0 [post 1 of 2&#8230;.stay tuned]<br \/>\n______________________________________________________________<\/p>\n<h2><strong><span style=\"color: #800000;\">Allawi: Keywords ineligible for the management of the Central Bank of Iraq<\/span><\/strong><\/h2>\n<p><a href=\"https:\/\/i0.wp.com\/www.dinarupdates.com\/blog\/wp-content\/uploads\/2016\/09\/Alak.jpg\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\" size-full wp-image-23371 aligncenter\" alt=\"alak\" src=\"https:\/\/i0.wp.com\/www.dinarupdates.com\/blog\/wp-content\/uploads\/2016\/09\/Alak.jpg?resize=512%2C319\" width=\"512\" height=\"319\" \/><\/a><\/p>\n<p><strong>Treasures Media \/<\/strong> Baghdad confirmed by former Secretary of Communications Mohammed Tawfiq Allawi , said Governor of the Central Bank of Iraq on the Keywords, does not know how the bank manages under these tough economic conditions, noting that \u201cIraq is moving toward a serious economic cliff&#8230;<\/p>\n<p><em><strong>Read More:\u00a0<a href=\"http:\/\/www.dinarupdates.com\/blog\/\" target=\"_blank\">http:\/\/www.dinarupdates.com\/blog\/<\/a><\/strong><\/em><br \/>\n______________________________________________________________<\/p>\n<p><strong><span style=\"color: #c23b3b;\">Breitling\u00a0(Dinar Guru) &#8211;<\/span><\/strong>&#8230;<strong>articles coming out with banks having problems giving people Iraqi dinar.<\/strong>\u00a0\u00a0<strong><span style=\"text-decoration: underline;\">Remember this is a two pronged attack.\u00a0<\/span><\/strong>\u00a0<span style=\"text-decoration: underline;\"><strong>They are trying to reduce the dollar amount because the only way they can reduce the note count and add value to the currency<\/strong><\/span>\u2026is to make sure people aren\u2019t addicted to the US dollar\u2026so there is a balance there.\u00a0 We don\u2019t have enough information to calculate.\u00a0 At what point are they pulling dollars off?\u00a0 and at what point are they reducing the note count.\u00a0 And at what point are they more heavy than the other?\u00a0 We don\u2019t know.\u00a0 BUT we know what to look for and we know the key words they\u2019re saying and what it means for us&#8230;<strong>Between 80 and 85% of notes in Iraq are 25K notes and they say they have about 41 Trillion in dinar\u2026divide that up into 25K notes.\u00a0 and you\u2019ll figure out about what the note count is at.<\/strong><br \/>\n______________________________________________________________<\/p>\n<p><strong><span style=\"color: #c23b3b;\">BGG (Dinar Guru) &#8211;<\/span><\/strong><span style=\"color: #c23b3b;\">\u00a0<\/span>\u00a0 [<em>any late news on the progress of the dinar<\/em>?]\u00a0\u00a0<strong>I am sure the next few days will be very revealing<\/strong>\u00a0&#8211; and&#8230;or I should say&#8230;<span style=\"text-decoration: underline;\"><strong>the biggest news would have been the full context of the results of the IMF &#8211; Iraq meetings\/review in Amman, Jordan&#8230;as that news comes out &#8211; it will be interesting<\/strong><\/span>\u00a0and&#8230;we&#8217;ve got a few developments coming soon &#8211; GOOD STUFF.<br \/>\n______________________________________________________________<\/p>\n<p><strong><span style=\"color: #c23b3b;\">Breitling\u00a0(Dinar Guru) &#8211;<\/span><\/strong>\u00a0&#8230;No.\u00a0 I\u2019m all about measure and I don\u2019t know how to measure that.\u00a0\u00a0<strong>It\u2019s very simple\u2026if you see someone and they have a car frame and it\u2019s just sitting there and they have an engine and it\u2019s just sitting there separate and they\u2019ve got wheels and they\u2019re separate\u2026you know they\u2019re building a car especially when you look at the parts<\/strong>\u2026you probably can tell what type of car they\u2019re building.\u00a0 Is it going to be a race car?\u00a0 Well if they\u2019re using race tires and an engine that\u2019s bigger than what everyone else\u2019s then it\u2019s pretty much going to be a race car right?\u00a0 So that\u2019s what we\u2019re looking at.\u00a0 That\u2019s the only thing I can go by.\u00a0 To me it sounds goofy when I have to use that type of example\u2026<strong><span style=\"text-decoration: underline;\">a lot of people got into the dinar because of intuition but I don\u2019t calculate by intuition.\u00a0 I don\u2019t believe in it.\u00a0 I don\u2019t believe in hope.\u00a0 I don\u2019t believe in any of that stuff.\u00a0 If I can\u2019t see it.\u00a0 I can\u2019t measure it.\u00a0 I can\u2019t invest in it.<\/span><\/strong>\u00a0 So you know this is an indicator but it\u2019s nothing that\u2019s measurable so you have to be very cautious when looking at it.\u00a0\u00a0 So very very good articles coming out. [post 2 of 2]<br \/>\n______________________________________________________________<\/p>\n<h2 style=\"text-align: left;\">If you found this blog, our website or chats helpful \u2013 Forward it to a friend!! We couldn\u2019t do it without you!! Thanks \u2013 BGG!!<\/h2>\n<h2 style=\"text-align: center;\"><a href=\"http:\/\/www.dinarupdates.com\/\" target=\"_blank\" rel=\"nofollow\">www.DinarUpdates.com<\/a><\/h2>\n","protected":false},"excerpt":{"rendered":"<p>Welcome to the Dinar Observer &#8211; Daily. For regular Dinar Updates, to see what the Dinar Gurus have to say, Dinar to USD listings, IQD and for Iraqi Dinar info &#8211; THAT MATTERS!! 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