{"id":15271,"date":"2018-04-21T15:02:19","date_gmt":"2018-04-21T20:02:19","guid":{"rendered":"http:\/\/www.dinarupdates.com\/observer\/?p=15271"},"modified":"2018-04-21T15:02:19","modified_gmt":"2018-04-21T20:02:19","slug":"dinar-observer-daily-april-21st-2","status":"publish","type":"post","link":"https:\/\/dinarupdates.com\/observer\/?p=15271","title":{"rendered":"DINAR OBSERVER DAILY \u2013 April 21st"},"content":{"rendered":"

Mnt Goat (Dinar Guru) –<\/span><\/strong>\u00a0\u00a0 Article quote:\u00a0“The CENTRAL BANK’S AUCTION IS SUPPOSED TO BE TEMPORARY FOR A SITUATION THAT THE IRAQI ECONOMY HAS LIVED UNDER IN CERTAIN CIRCUMSTANCES AND IT MUST STOP AFTER THAT, BUT IT HAS CONTINUED FOR MANY YEARS<\/em>\u201d.\u00a0 I strongly believe that the corruption involved in these auctions and billions being made by the politicians being involved with their fictitious companies may be one of the reason for delaying this RV for so long.\u00a0 …So what we want is for them to discontinue them<\/strong>.
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Parliamentary integrity reveals cases of corruption worth 70 billion dollars in two files<\/span><\/h1>\n

The Parliamentary Integrity Committee on Wednesday revealed the existence of cases of corruption about 70 billion dollars in the files of the auction of currency and real estate of the state, noting that the current government did not invest the opportunity available to them in the fight against corruption, despite international and domestic support…<\/p>\n

…The MP from the Union of Forces Abdul Rahman al-Luizi confirmed in a previous statement to \/ information \/ \/ the government’s intention to open files of administrative corruption in the auction of selling foreign currency from the cash reserve and the investigation of the family of all private banks.<\/strong><\/p>\n

Article Credit: almaalomah.com<\/a> (Special Thanks to Tim Tarkington)<\/strong><\/em>
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Kaperoni (Dinar Guru) –<\/span>\u00a0<\/strong>\u00a0\u00a0The problem with most dinar investors is they think the dinar can revalue to some random number…\u00a0it cant...\u00a0It is mathimatically impossible to RV or RI…the only thing that can happen is the world can set the rate…that means float<\/u><\/strong>…\u00a0Once capital markets are integrated internationally, vast amounts of money may flow into and out of the country in a short period of time…This will make it very difficult for the country to maintain a fixed exchange rate.\u00a0 …So they have to move off the peg to a float, there is no option…\u00a0well documented…\u00a0factual…written in imf docs<\/u><\/strong>…
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Chattels (Dinar Guru) –<\/span><\/strong>\u00a0\u00a0Our best \/ earliest hope is post election, IMO.\u00a0The election is May 12<\/u>\u00a0and Ramadan starts a few days thereafter.<\/strong>
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Kaperoni (Dinar Guru) –<\/span>\u00a0\u00a0<\/strong>So we hope it doesn’t happen\u00a0but al-Maliki is a real threat to cause problems<\/u>\u00a0with the upcoming elections as he tries for a third term, the retweets of his brutal tactics are an example.<\/strong>
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CBI sets the terms of the negotiable banknotes<\/span><\/h1>\n

Alsumaria News \/ Baghdad –<\/strong> The Central Bank of Iraq, on Tuesday, the terms of the banknotes are negotiable.<\/p>\n

The bank said in a statement received by Alsumaria News, a copy of it that “the banknote is valid for trading even if exposed to what comes if there was a tear or more than no more than 3 cm and was repaired with a transparent adhesive tape from one side or both sides did not affect the features” .<\/p>\n

The bank added that “one of the other conditions that the banknote is valid for trading if it was cut in one of its corners up to 2 cm and did not affect the features,” noting that “of the other conditions if the effects of trading and use and did not harm or harm affects the shape, color and size “He said.<\/p>\n

The Central determines the terms of the non-negotiable banknotes<\/p>\n

The Central Bank obliges banks to provide five hours for their applications to buy currency
\nMany of the banknotes that many citizens refuse to trade are traded in local markets.<\/p>\n

Article Credit: www.alsumaria.tv<\/a> (Special Thanks to Carol Williamson)<\/strong><\/em>
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American Contractor (Dinar Guru) –<\/span><\/strong>\u00a0<\/span>\u00a0\u00a0…You may see some action possible after the elections depending on which party has control of the government.\u00a0 The Iraqi parliament will have to vote on the delete the zeros project given that they did not get the opportunity in 2012.\u00a0<\/strong>\u00a0The Iraqi cabinet stopped it because they believed the economic climate was not yet ready.\u00a0\u00a0…Oil prices are continuing to go up and businesses are returning although cautiously and investing in startups and existing companies…\u00a0\u00a0 ...You will learn of the delete the zeros project getting ready to be implemented when you read that there is a education campaign going on inside Iraq.\u00a0\u00a0<\/u><\/strong>The education campaign will consist of news media, flyers, and radio advertising to get the word out.\u00a0 The CBI wants to make sure that everyone is informed about the delete the zeros project…
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American Contractor (Dinar Guru) –<\/span><\/strong>\u00a0\u00a0 …In the course of the next few months you may quite possible see media reporting about a delete the zeros project.\u00a0\u00a0\u00a0According to the intel I have, as well as info\u00a0I received today from a banker, the delete the zeros project is going to be progressing at a much faster pace<\/u>, and word has it that new information will be published after Ramadan.\u00a0\u00a0…Everything from this point on is riding on the upcoming national and local elections (May 12).\u00a0\u00a0There appears to be a vast more supporters than not for the delete the zero’s project<\/u>…<\/strong>
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Kaperoni (Dinar Guru) –<\/span><\/strong>\u00a0\u00a0The upcoming elections in Iraq could play a critical part in whether monetary reform occurs sooner than later.\u00a0<\/strong>\u00a0Today rumors of al-Maliki supporters tearing down opposition posters. Some say Maliki is paying 50 million dinar to vote for his block.\u00a0 Monetary reform\/currency reform is a must for Iraq to engage with the world economy, more importantly bring investors to Iraq.\u00a0<\/strong>But can Iraq overcome the opposition?
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Maliki has no chance to win elections in Karbala – Observers<\/strong><\/span><\/h1>\n

Observers to the electoral campaigns in Karbala governorate affirmed Wednesday that State of Law coalition, headed by Vice President Nouri al-Maliki has almost a no chance in winning the upcoming election.<\/p>\n

Competition in Karbala is between Victory coalition, headed by PM Haidar al-Abadi, al-Wataniya coalition headed by Ayad Allawi, Wisdom Movement headed by Ammar al-Hakim and al-Fatah by Hadi al-Ameri, the observers affirmed.<\/p>\n

“Maliki’s coalition has no place in the race to the parliament, for his unpopularity in Karbala, unlike the election of 2010 where the coalition obtained 200k votes, which allowed it to win 7 seats out of 11,” observers said.<\/p>\n

Iraq is anticipating a parliamentary election on May 12.<\/p>\n

Article Credit: www.thebaghdadpost.com<\/a> (Special Thanks to Charles Bright)<\/strong><\/em>
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Mnt Goat (Dinar Guru) –<\/span><\/strong>\u00a0\u00a0 “ADOPTION OF THE LAW OF OIL AND GAS CONTRIBUTE TO ENDING THE ETERNAL DISPUTE BETWEEN BAGHDAD AND ERBIL<\/em>”\u00a0\u00a0\u00a0so here it is in writing \u2013 HCL is done!<\/strong><\/u>Also I have been telling everyone the contention between the GOI and KRG and that is was all about getting a formal, legal law passed in parliament for how the oil and gas (95% of the wealth of Iraq) is to be managed.
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Kaperoni (Dinar Guru) –<\/span><\/strong>\u00a0<\/span>\u00a0 …articles surfaced today confirming directly after the elections they plan on opening the banking system.<\/strong><\/u>
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MilitiaMan (Dinar Guru) –<\/span><\/strong>\u00a0<\/span>\u00a0Notice the theme of late is about instructions…\u00a0As in this is how you pay people with allocations of\u00a0 %’s and we\/they (CBI) showed everyone how to collect old money and replace with new notes that will be circulating,<\/u>\u00a0the new system of electronic payments, etc.. Oh the new deal between us (Bagdad) and them (Erbil) in regard to the Oil and Gas…<\/strong>
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Abadi\u2019s policy to open files of corruption \u201cserious\u201d \u201cregardless of date\u201d<\/strong><\/span><\/h1>\n

Twilight News – Shivak News \/<\/strong> Prime Minister Haider al-Abadi on Wednesday chaired the meeting of the Supreme Council for Combating Corruption.<\/p>\n

At the beginning of the meeting, Abadi stressed the need to pay attention to the investigative evidence in the files of corruption, reflecting the accuracy in following up the issues and the prosecution of all files of corruption, regardless of the date of receipt.<\/p>\n

The council discussed \u201cserious\u201d corruption cases that have been investigated and referred to the judiciary, and those responsible have been prosecuted.<\/p>\n

Abadi stressed the importance of drafting a general framework for the management of inspection work in Iraq to ensure the performance of the offices inspectors inspectors their role legally defined in ministries, governorates and other bodies.<\/p>\n

The Council discussed its agenda and adopted a set of resolutions. It also reviewed the work of the National Committee of Experts to follow up the files that were reviewed and submitted to the judicial bodies.<\/p>\n

Abadi stressed the importance of following up all issues related to corruption and reporting on them and focusing on the major corruption crimes that led to the theft of public money.<\/p>\n

Article Credit: shafaaq.com<\/a> (Special Thanks to Charles Bright)<\/strong><\/em>
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American Contractor (Dinar Guru) –<\/span><\/strong>\u00a0\u00a0\u00a0Iraqi Security Forces (ISF) have recaptured all of the territory hold by the Islamic State (ISIS)<\/strong>.\u00a0 However, in December of 2017, the Prime Minister Haider al- Abadi declared ISIS defeated.<\/strong>\u00a0 Unfortunately, large areas of northern and westen Iraq continue to lay in ruins from the extensive fighting.\u00a0\u00a0Since 2014, the lack of local governance, secure transportation, disruption in local services, and a decrease in international oil prices have severely impacted Iraq’s economy<\/strong>.\u00a0 At the present time, the Iraqi’s are shifting their attention towards recovery and the country’s political future.<\/strong>\u00a0 The security conditions are improving and the Iraqi army is continuing onward with their counter-terrorism operations against the Islamic State.
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American Contractor (Dinar Guru) –<\/span><\/strong>\u00a0<\/span>\u00a0\u00a0There are currently 26 days left in the Iraqi national elections.\u00a0<\/strong>\u00a0Over 1,000 candidates are campaigning for all the various political positions.\u00a0\u00a0Each and every one of my Iraqi contacts have stated that this election is their most crucial one for the future of Iraq.<\/u>\u00a0<\/strong>\u00a0\u00a0The Iranian government is trying to maintain their control of the Iraqi government.<\/strong>\u00a0 Clearly, Iran does not want to see the Iraqi government align themselves with the west.\u00a0 In my opinion, the Iraqi government has an unstable relationship with the west and a stronger relationship with Russia, Iran and China.
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American Contractor (Dinar Guru) –<\/span><\/strong>\u00a0\u00a0\u00a0It has been reported, that the Central Bank of Iraq (CBI) have closed the gap with the parallel market rate.<\/u>\u00a0 Issues remain with the currency and the CBI is preparing to print even more currency shortly after the elections.\u00a0<\/strong>\u00a0As if they don’t have enough already!\u00a0\u00a0Ramada begins May 15, 2018, so clearly nothing significant will happen during this time.\u00a0<\/strong>
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Maliki has $ 3 billion in his account in Central Bank<\/strong><\/span><\/h1>\n

A document circulating on social media indicates that the former Iraqi premier Nouri Al-Maliki has assets up to $ 3 billion.<\/p>\n

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The document was issued by the legal affairs department in the Central Bank.<\/p>\n

Maliki is proved to be involved in several crimes, including Camp Speicher. He also was behind Mosul’s fall into the hands of ISIS terror group.<\/p>\n

He has close ties to Iran. And he is one of those working for it to implement its schemes in Iraq.<\/p>\n

Article Credit: www.thebaghdadpost.com<\/a> (Special Thanks to Rey Medina)<\/strong><\/em><\/p>\n

BGG ~ Sounds like it’s about time to actually implement their “Where did you get this? Policy”… starting with Maliki.<\/em><\/span><\/h2>\n

Which – BTW, doesn’t sound good for him if they are publishing news and articles about his ill-gotten gains and ties to foreign actors right before the elections – and in the middle of the GOI actively hunting around for funds.<\/em><\/span><\/h2>\n

Not good at all (for him).<\/em><\/span><\/h2>\n

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Kaperoni (Dinar Guru) –<\/span><\/strong>\u00a0<\/span>\u00a0 \u00a0Well when i started 10 years about I thought rv too!\u00a0\u00a0 …there is a reason they cant…The CBI…said they would join the world currency exchange…How without a float…the CBI will have to get off the peg…and float.\u00a0\u00a0…the value is 1184 that is what it will start at<\/strong>…They will move to a float prior to opening the CBI Capital Account…In doing so, the CBI can raise the value as inflationary pressure is created from investment…we know they must float because global investment will cause inflation in Iraq and Iraq must have a plan to counter that…could it rise fast<\/em>? sure…how fast? no idea.<\/strong>\u00a0\u00a0\u00a0As the dinar appreciates in value the CBI will introduce smaller notes as needed. Same for the larger notes, they will disappear.\u00a0<\/strong>\u00a0 …From the CBI… “A source at the Central Bank of Iraq for four companies currently competing to win a draft print the new Iraqi dinar, which will generate graceful after deleting three zeros from him,\u00a0while Samay central bank to raise the value of the dinar against the dollar gradually down to the day to start replacement where the value will be in the absence of a fluctuating one Iraqi dinars equivalent to U.S. dollars one<\/u><\/em>.”
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Kaperoni (Dinar Guru) –<\/span><\/strong>\u00a0\u00a0<\/span>The recent article from the WTO is motivational for Iraq\u00a0but until they have exports and reduce dependence on oil they will not get full of accession.<\/strong>
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Mnt Goat (Dinar Guru) –<\/span><\/strong>\u00a0\u00a0 …just a little over a week ago…the prime minster of Iraq Abadi came out and told the news media and I quote \u2013\u00a0 \u201cTHE SUBJECT OF DELETING ZEROS FROM THE CURRENCY IS READY BUT NEEDS A SUITABLE ENVIRONMENT TO BE APPLIED TO PREVENT MANIPULATION AND FRAUD<\/em><\/strong>\u201d.\u00a0 Then in a follow up article shortly after we heard and I quote from the article-\u00a0 \u201cTHE CENTRAL GOVERNMENT STANDS WITH THE CENTRAL BANK’S DRAFT TO DELETE THREE ZEROS OF THE CURRENCY<\/u>, BECAUSE IT SEES IT “HURT THE EFFICIENCY OF THE SYSTEM OF CASH PAYMENTS,”\u00a0<\/em><\/strong>ACCORDING TO THE FINANCIAL ADVISER TO THE PRIME MINISTER<\/em>”\u00a0\u00a0So now we know the CBI and GOI are on the same page. This is fantastic news.<\/u>\u00a0We need the GOI to support this action of the CBI. Just too bad they both support a postponement<\/strong>.
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Top Iraqi court set to rule on Kurdistan’s oil exports<\/strong><\/span><\/h1>\n

Iraq\u2019s top court will begin hearings in May on the legality of oil exports from Kurdistan, which are at the center of a row between the Kurdistan Region Government and Baghdad’s Federal Government, Reuters reported on Tuesday.<\/p>\n

The oil dispute is the main hurdle to normalising relations between the Federal Government and the KRG of northern Iraq which conducted a referendum on independence despite Baghdad\u2019s opposition.<\/p>\n

The Supreme Federal Court said in a statement it has asked to hear the opinions of officials including the Federal government\u2019s Prime Minister Haider al-Abadi, Oil Minister Jabbar al-Luaibi and Finance Minister, in addition to the KRG\u2019s prime minister, on May 6.<\/p>\n

Iraqi oil minister Jabar al-Luaibi had asked the court to issue a ruling that bans independent oil exports from the KRG, which started in 2014, through a pipeline across Turkey.<\/p>\n

The KRG says the Iraqi Constitution recognises the legality of its existence and contains no article specifically forbidding it from developing oil resources on its territory.<\/p>\n

International energy firms including Exxon Mobil, DNO, Dana Gas, Rosneft and Genel are among companies with agreements with the KRG to operate in the Kurdistan region.<\/p>\n

Article Credit: www.thebaghdadpost.com<\/a> (Special Thanks to Charles Bright)<\/strong><\/em>
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Kaperoni\u00a0(Dinar Guru) –<\/span>\u00a0<\/strong>\u00a0I went back a few weeks and recorded the spread based on the articles so we could get some sort of beginning timeline for the 2% compliance. This is what I found…2\/28\u00a0 \u00a0\u00a01220, \u00a03\/10\u00a0\u00a0\u00a0 1215, 3\/14\u00a0\u00a0\u00a0 1215, 3\/14\u00a0\u00a0 1210, 3\/15\u00a0\u00a0 1207, 3\/15\u00a0\u00a0 1213, 3\/18\u00a0\u00a0 1210, 3\/18\u00a0\u00a0 1213, 3\/20\u00a0\u00a0 1207.\u00a0\u00a0So to me, it looks like the CBI meet compliance around March 15.<\/strong><\/u>
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Chattels (Dinar Guru) –<\/span><\/strong>\u00a0\u00a0Ramadan begins Wednesday, May 15, 2018 and ends Thursday, June 14, 2018.<\/strong>
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Randy\u00a0Koonce (Dinar Guru) –<\/span><\/strong> A quick update to all the citizens of Dinarland. This has been the ride of a lifetime, and certainly one none of us ever imagined. One of these days, they will actually quit moving the goal posts, and the ‘dinarball’ will actually make it to the other side, right down the middle.\u00a0\u00a0It looks like things are lining up – again. We have heard from several pretty reliable sources that another window has opened for Iraq to revalue their currency. This window should remain open from now, until the the 20th of April.<\/strong>\u00a0As always, remember: This is Iraq. It is our sincerest hope that nothing new will come up – this time.
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Calls for banking sector governance to stop the corruption of the currency auction<\/strong><\/span><\/h1>\n

The economic expert, Salam Samisem, called for banking sector governance to stop the corruption of the currency auction and stabilize the Iraqi dinar.<\/p>\n

“The importance of the currency auction stems from the fact that it is an auction for the exchange of foreign currency to cover large expenses to support Iraq’s foreign trade, and on the other hand to help in the partial withdrawal of the local currency from the markets to help maintain specific levels of inflation, Selling the dollar to the owners of commercial transactions and banks at legal prices, but the entry of the political line on the banks make business deals with a lot of suspicions of corruption.<\/p>\n

Samisem stressed that without a real governance of the banking sector can not stop the corruption of the auction of currency, because without it are not processing the banks in dollars mainly, especially as the currency offer is a major base to provide stability for the Iraqi currency…<\/p>\n

Read more:\u00a0http:\/\/www.dinarupdates.com\/blog\/<\/span><\/strong><\/em>
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Randy Koonce (Dinar Guru) –<\/span><\/strong>\u00a0\u00a0\u00a0I want you to know that while this should have happened several years ago, the Dinar revaluation has been turned into a major political football.<\/strong>\u00a0Everyone has wanted to use it to their own advantage, whether national or individual. There have been many events that should never have affected this event, but the influence has been there.\u00a0While I am not at liberty to disclose the identity of my sources, I can assure you: they are people who do know what is going on, and have access to the influences that will be able to see this finished<\/u>.\u00a0I cannot and will not guarantee this will be done by April 20 – but there is good shot at it happening this time.\u00a0\u00a0 …<\/strong>We are close.. Every large bank will exchange… RELAX the RV is coming<\/strong>…Breathe…Check www.cbi.iq every day to see if it has changed…
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Chattels (Dinar Guru) –<\/span><\/strong>\u00a0\u00a0\u00a0If 90 days of compliance is a condition precedent to article 8 or completion of the Iraqi Banking Sector Reform Project then we are looking at mid-June at the earliest.\u00a0<\/strong>\u00a0\u00a0According to some compliance was effective mid-March…Compliance with the 2% variance between official rate and the parallel market rate that is.\u00a0 [is the 2 percent been verified as a condition<\/em>?]\u00a0 \u00a0According to Kaperoni it is<\/strong>.\u00a0 How soon will Iraq have a new government seated is arguably a concern.\u00a0\u00a0My sense of it all is beginning 2019 at the earliest.<\/strong>\u00a0We shall see, eh ?
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Kaperoni (Dinar Guru) –<\/span>\u00a0<\/strong>\u00a0 ...if the dinar is undervalued as some economist have stated, and investors are waiting to come in as reported with these contracts then we should see some results soon<\/strong>.\u00a0 It’s alot of “if’s” but they have to begin somewhere and\u00a0with the encouragement of the IMF, WB this should begin in a few months.<\/u><\/strong>
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Central Bank: We have succeeded in ending the exchange rate gap<\/strong><\/span><\/h1>\n

Article Credit:\u00a0economy-news.net<\/a>\u00a0(Special Thanks to Vernell)<\/strong><\/em><\/p>\n

BGG ~ This article has been out for a bit…<\/span><\/h2>\n

There has been all kinds of commentary on it. What does it mean? Will it float? Are they in compliance with the IMF’s directives?<\/span><\/h2>\n

Many interesting points, but I think everyone is missing the big picture here. What are these miracle steps the CBI has taken to close the gap between the “Market rate” and “Official rate”? Bottom line? Nothing really… They wrote a few memos and changed how they are doing things a little. Other than making threats to deal with their endemic corruption… nothing really.<\/span><\/h2>\n

So what is it? Short story – they want to. For a very long time the IMF, UN, WB and others have had these guidelines in place.<\/span><\/h2>\n

However, Iraq and her corruption politicians have thumbed their noses at the world systems and continued robbing their own people blind… right up to the point of nearly setting the whole Middle East on fire for the nothing more important than a slight political edge in the then upcoming elections.<\/span><\/h2>\n

On the other hand, the IMF, UN, WB and others have been content to shrug their shoulders and leave Iraq at the same value and in the same (financial) condition she has been in for decades. If they don’t want to play ball – no reason to let them back in until they can show some financial accountability.<\/span><\/h2>\n

All of this begs the question – “What does the IMF, UN and WB have to do with the value of Iraq’s currency”? Iraq can declare whatever number they dream up, much like Saddam did. If no one will accept it, buys it or agrees to hold it – what does it matter what the number is?<\/span><\/h2>\n

Fast forward to today… we watch this AMAZING closing of the “Market rate” and “Official rate” gap in Iraq… It hasn’t EVER happened. Why now?<\/span><\/h2>\n

First, who is this announcement by the CBI for? Does this affect the everyday people in Iraq? If it did, it would be to the tune of few dinars per transaction… so no, it doesn’t affect them much. Then who is the CBI talking to? I see this as a public declaration by the GOI and CBI to the IMF and others they intend to play ball.<\/span><\/h2>\n

Secondly, they have to do this before they will be fully accepted by the world exchange markets. It appears they intend to get there quickly.<\/span><\/h2>\n

Why? The answer to this whole commentary is simple… BECAUSE THEY WANT TO. They simply lacked the right level of desire before. It seems like they have it now.<\/span><\/h2>\n

Going back to what are they doing to affect this change? Dealing with their corruption. That’s it.<\/span><\/h2>\n

Do I care what they do or how they do it? I do not. The end result will be the same. I am happy we are seeing real results. Carry on.<\/span><\/h2>\n

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Don961 (Dinar Guru) –<\/span><\/strong>\u00a0\u00a0Article:\u00a0 “Is it time to delete three zeros from the currency<\/em>?”\u00a0\u00a0\u00a0Economists are saying… Politicians … put up or shut up … real reform is way overdo<\/strong>\u00a0… imo.
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APMCRX (Dinar Guru) –<\/span><\/strong>\u00a0 \u00a0Article:\u00a0\u00a0\u00a0\u201cMarket Review: Market Consolidates<\/em>\u201d\u00a0 Wow wow wow this article is telling you when the IQD will start a real recovery…Timing…. a lot of timing is still need it… Demand and supply…M2 will increase over the time…Abadi is doing bussiness around the world… investments in a short-medium term good for the IQD<\/strong>…IMO
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Chattels (Dinar Guru) –<\/span><\/strong>\u00a0\u00a0 \u00a0Article quote:\u00a0 “Dollar exchange rates today in Iraq Release date: 2018\/4\/6 9:31 \u2022 [Ayn-Baghdad] Foreign exchange markets in Baghdad, on Friday morning, stabilized at the dollar exchange rate against the Iraqi dinar. The market price in the Kifah Stock Exchange in Baghdad was 1202.5 dinars per dollar.<\/em>..”\u00a0\u00a01202.5 dinars per dollar<\/strong>
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Kaperoni (Dinar Guru) –<\/span><\/strong>\u00a0\u00a0 I try to teach people not to believe what I say but to research this investment.\u00a0And doing so you will find that currency simply does not RV or RI, they float and gradually rise overtime.\u00a0<\/u>In fact once they begin this transition it could take two years or more to appreciate to a level that we all would consider cashing in.\u00a0\u00a0There is no single event. This is a process that takes time.<\/u>\u00a0\u00a0<\/strong>
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Is it time to delete three zeros from the currency?!<\/span><\/strong><\/h1>\n

Economy News Baghdad:<\/strong> The central bank submitted a project to delete three zeros of the currency, in order to confront inflation and stimulate the economy, but was forced to stop because of the deteriorating security and political situation in the country.<\/p>\n

The governor of the Central Bank, Ali al-Alaq, in a discussion session with the editors of a number of Iraqi media, including “Economy News”, “The subject of deleting zeros from the currency is ready, but it needs an environment suitable to apply,” noting that ” To prevent manipulation and fraud by the owners of weak souls. ”<\/p>\n

The central government stands with the central bank’s draft to delete three zeros of the currency, because it sees it “hurt the efficiency of the system of cash payments,” according to the financial adviser to the prime minister.<\/p>\n

He added, the appearance of Mohammed Saleh, in an interview, “the economy News,” that “the current environment suitable for this project because there is financial and political stability witnessed by the country, especially after the salvation of the organization (da’ash).”<\/p>\n

He stressed the need not to rely on the project to support the Iraqi dinar, but “focus on the creation of all conditions that would support the Iraqi dinar and represented by political and economic stability,” pointing out that “the central bank has accumulated experience in dealing with the subject.”<\/p>\n

The economist said, in the name of Jamil Anton, for “Economy News”, “The current environment is not suitable for the project to delete the zeros at the moment, because the security situation has not settled so far in the ideal form.”<\/p>\n

He pointed out that “the project needs educational campaigns to be accepted by citizens and does not affect the movement of the market,” noting that “the project has the benefits of reducing the amount of money used in deposits, which helps accountants not to fall in error in dealing with zeros in large amounts, As well as reduce the number of trustees funds and protect money from theft. ”<\/p>\n

Antoine predicted that the project would be implemented after the legislative elections scheduled for next May.<\/strong><\/em><\/span><\/p>\n

Article Credit:\u00a0economy-news.net<\/a>\u00a0(Special Thanks to Vernell)<\/strong><\/em><\/p>\n

BGG ~ This was dated today. This is current news!! It appears both Saleh and Alak believe the current climate is right, however, one economist mentioned does not. We’ll soon see (as in – between now and a month or two after the elections – according to them).<\/em><\/span><\/h2>\n

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\u00a0Kaperoni (Dinar Guru) –<\/span><\/strong>\u00a0\u00a0 […What will happen to the dinar notes we hold here in the US? Any thoughts<\/em>?]\u00a0\u00a0According to the CBIs own words<\/u>, held in central banks around the world for a very long time.<\/strong>
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sandyf (Dinar Guru) –<\/span><\/strong>\u00a0\u00a0There would be very little point in a 1 to 1 redenomination. The only other answer to what you are implying would be a redenomination followed by a revaluation.\u00a0<\/strong>Two separate events with a variable time gap, although a possibility, not a scenario people would want to face.\u00a0\u00a0\u00a0…a float…is a contentious issue and always a possibility although not normally considered a good move for an emerging market. If it were to go ahead, appreciation would be limited with very little in the way of returns…<\/strong>
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