{"id":15345,"date":"2018-05-29T17:16:42","date_gmt":"2018-05-29T22:16:42","guid":{"rendered":"http:\/\/www.dinarupdates.com\/observer\/?p=15345"},"modified":"2018-05-29T21:09:29","modified_gmt":"2018-05-30T02:09:29","slug":"dinar-observer-daily-may-29th-2","status":"publish","type":"post","link":"https:\/\/dinarupdates.com\/observer\/?p=15345","title":{"rendered":"DINAR OBSERVER DAILY \u2013 May 29th"},"content":{"rendered":"

\"Abadi'sAbadi’s list hints at the opposition<\/strong><\/span><\/h1>\n

BasNews –<\/strong> A member of the coalition \u00abvictory\u00bb led by Iraqi Prime Minister Haider Abadi, the coalition’s readiness to work in the opposition in the House of Representatives.<\/p>\n

“We welcome everyone, but the declaration of alliances is premature before the Federal Supreme Court approves the election results as well as the charged atmosphere and cast doubt on the results,” Yusuf al-Kalabi said in a press statement.<\/p>\n

“We are close to everyone, except those whose hands have been stained with the blood of the Iraqis, stealing the people’s money and penetrating corruption.”<\/p>\n

Al-Kalabi announced that they are in the coalition of “victory” ready to go to the opposition without hesitation if we do not find this atmosphere.<\/p>\n

Abizaid, saying: \u00abwe find the alliance of Souron, is closest to us and other parties, but we emphasize that the political meetings do not exceed the exchange of visits\u00bb.<\/p>\n

And the decision of the Council of Representatives on the elections, that “the election law painted a way to challenge the results and there are those who did not accept, and there are a lot of observations on the Electoral Commission,” as he put it.<\/p>\n

He said that “the elections can not be re-elected, because exceeding the constitutional time after the end of the current parliament, which ends on July 1, 2018 will put us in crisis.”<\/p>\n

“The current parliament has not succeeded in the basic task of legislating the important and required laws. Iraq is walking in an executive and realistic direction, and the laws are socialist and old, so the next parliament has a great responsibility to make a real revolution in the legislation of laws.”<\/p>\n

The coalition of “victory”, led by Abadi, was replaced by a third with 42 seats, according to the final results of legislative elections announced by the Electoral Commission for elections in Iraq, dawn Saturday 19 May.<\/p>\n

While Al-Fateh won 48 seats, while the State of Law coalition won 26 seats, the Kurdistan Democratic Party won 25 seats, the National Coalition won 21 seats, (Wisdom) 20 seats, while the Patriotic Union of Kurdistan won 18 seats.<\/p>\n

Article Credit: Basnews.com<\/a>\u00a0(Special Thanks to Paul Moseley)<\/strong><\/em><\/p>\n

BGG ~ I think it early to worry or be concerned about who will lead Iraq. This is more of a threat than a reality. I think there is little chance Abadi’s list winds up as the opposition in Parliament, rather – this is a statement confirming his loyalties to the cause of the people and a warning to some of the “swing votes” who might still be jockeying with the dream there is a return to some former place in which Maliki returns Iraq to rampant corruption where he gets to do as he pleases and they get paid huge fortunes.<\/span><\/h2>\n

Abadi still has the clearest path to being the next PM.<\/span><\/h2>\n

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Late Sunday the CBI lowered their official rate. \u00a01 USD is now equal to 1190 IQD<\/u><\/strong>. \u00a0What’s interesting is the CBI LOWERED the official rate while the market rate has been INCREASING in value all year. \u00a0The CBI official rate and the market rate are now only 6 dinars apart (The CBI’s last reported market rate was Sunday 3-27-2018 at 1196<\/strong><\/u>)….the official rate and the auction price were the same<\/strong>. \u00a0The CBI said they’d begin their reform programs following the elections…is this the first sign of those reforms being implemented?<\/p>\n

BGG ~ IMHO this move is purely about staying in or getting into better compliance with IMF directives. Pure and simple. So they devalued by less than 2\/10ths of a penny!! Big deal… the BIG DEAL is they are showing a distinct and stunning sensitivity to being in alignment with the IMF. Here’s the real kicker… they’ve known how to do this all along, and yet they’ve been doing something else all along. Why the sudden change of heart? Why now? What has changed and what is their end-game? Most interesting times.<\/span><\/h2>\n

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Mnt Goat (Dinar Guru) –<\/span><\/strong>\u00a0\u00a0<\/span>\u00a0So here is a time sequence as we should all now see it:
\n-May 31st – Deadline to submit any complaints about the voting process to electoral commission.
\n-June 1st \u2013 the first session of the NEW Parliament first order of business is to swear in its newly elected members.
\n–Prior or just after to June 1st- The Sadr Movement announces their candidate for Prime Minister.<\/strong>
\n-Early June sometime the NEW Parliament must ratify the nominee for the Prime Minister<\/strong>.
\n-Once nominee is ratified by the NEW Parliament, the NEW prime minister will have 90 days [or 3 months] to form the new government. This would bring us to around September timeframe to have a possible \u201cfully\u201d functional govt.<\/strong>
\n-June 15th \u2013 The Judiciary must ratify the election results 2 weeks after the deadline from the Electoral Commission is reached.
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Breitling (Dinar Guru) –<\/span>\u00a0<\/strong>\u00a0People keep bringing up this lop stuff and it\u2019s completely off base\u2026in country revaluation –\u00a0there\u2019s no such thing. \u00a0In country revaluations have never existed in the history of all man kind.<\/u><\/strong>\u00a0\u00a0That\u2019s the most asinine thing I\u2019ve ever heard. \u00a0No one can show me an example of an in country revaluation. \u00a0It just doesn\u2019t work that way.\u00a0They got this idea because Turkey back in the day<\/strong>\u2026So what they did was they took the currency that they had and they pretend that they took three zeros off it and somehow that was going to make their economy more efficient. \u00a0But it was a ruse. \u00a0It was a big trick\u2026there was no new imports. \u00a0There was no new exports. \u00a0There was no new nothing<\/strong>. But here\u2019s the point you need to understand. \u00a0They never took one note off the market. \u00a0All those notes were left in the market. \u00a0They just pretended the three zeros didn\u2019t exist on them. \u00a0Iraq is the compete opposite<\/strong><\/u>\u2026
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Breitling (Dinar Guru) –<\/span>\u00a0\u00a0<\/strong>\u00a0\u2026What have they [Iraq\/CBI] gotten rid of so far? \u00a0They\u2019ve gotten rid of the entire 50 dinar note.<\/u><\/strong>\u00a0\u00a0And that\u2019s why we watch the note count the way we do. \u00a0It\u2019s because they\u2019re actually taking notes out of the market to add value to their currency.<\/strong><\/u>\u00a0\u00a0Not only that but the value of Turkey\u2019s currency was never that great ever. \u00a0With the Iraqi dinar it\u2019s the compete opposite. \u00a0It was worth $3.25 US dollars at one time<\/strong>. \u00a0And what was the note count when it was at that value?\u00a0\u00a0It was at one billion physical notes.<\/u><\/strong>\u00a0\u00a0And that\u2019s why we watch the note count the way we do. \u00a0Iraq has never talked about a lop. \u00a0Iraq is talking about taking physical notes out of the market and the notes that are left over absorb the value of what\u2019s backing up that currency in the first place. \u00a0It is that simple<\/strong><\/u>. \u00a0Turkey never took any notes out of the market. \u00a0Iraq is taking notes out of the market. \u00a0They\u2019ve done it two different ways and that\u2019s what they\u2019re doing. \u00a0So that\u2019s the difference and that\u2019s why there is no lop\u2026<\/strong><\/p>\n

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\"\"<\/a><\/p>\n

Why am I selling my Dinar?<\/span><\/strong><\/h1>\n

Simple answer:<\/strong> I’m not – I’m buying. I only sell so that we can increase holdings. We keep everything we can afford to. That’s the general concept anyway.<\/p>\n

Sometime back we were able to help some folks in a big way with their currency. This was at a time when the dealers were being very harsh with people on their buy-backs and not really passing much of that on to buyers.<\/p>\n

We helped. When their advertised buy-back was $500-600 (depending on condition) we were able to get one man $850 x 60 million and helped save his farm. We didn’t make much – but we helped. It was then I realized, if we were gonna’ keep this up, we ought to get registered as a dealer.<\/p>\n

We did. We try to offer the best number for those wanting to get out – and the best number we can for those wanting to get in or add more.<\/p>\n

Current Sale Price: $995 per million (2014 25k notes – perfect quality – uncirculated)<\/strong><\/em><\/p>\n

www.TheDinarExchange.com<\/a><\/strong><\/p>\n

615-509-6256 (BGG)<\/strong><\/p>\n

P.S. You are welcome to PM me on FaceBook for more (currency related) info as well.<\/strong>
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Chattels (Dinar Guru) –<\/span><\/strong>\u00a0\u00a0 \u00a0[\u00a0i…was wondering if you think the IMF is in charge of most of this dinar circus?<\/em>]\u00a0\u00a0\u00a0Iraq’s monetary practice and policy arguably must exist within an acceptable framework for it’s currency to be received \/ valued by others is my sense of it.\u00a0 It is a collaborative and compliance situation between the CBI and the IMF at least. Neither is arguably “in charge”<\/strong>.
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Chattels (Dinar Guru) –<\/span><\/strong>\u00a0<\/span>\u00a0 [...the CBI IS IN CONTROL PERIOD!<\/em>!]\u00a0\u00a0There are market forces that the CBI can influence but I do not believe that the CBI “controls” them directly.<\/strong>
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Chattels (Dinar Guru) –<\/span><\/strong>\u00a0\u00a0 Article:\u00a0 “Banks and dinar recovery<\/em>”\u00a0 Quote: \u00a0“more than two months ago the stability of the exchange rate<\/u>\u00a0and the recovery of the Iraqi dinar and the high purchasing power in the market of cash circulation because of the success of the plans and procedures of the Central Bank and the cooperation of the banking sector with him, which led to convergence of the exchange rate set by the Central Bank with the parallel market price,<\/em>…”\u00a0\u00a0\u00a0The foregoing arguably confirms the compliance made with the 2 % spread toward a three month period<\/u>.<\/strong>
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