{"id":15380,"date":"2018-07-01T10:34:33","date_gmt":"2018-07-01T15:34:33","guid":{"rendered":"http:\/\/www.dinarupdates.com\/observer\/?p=15380"},"modified":"2018-07-01T18:49:34","modified_gmt":"2018-07-01T23:49:34","slug":"dinar-observer-daily-july-1st-3","status":"publish","type":"post","link":"https:\/\/dinarupdates.com\/observer\/?p=15380","title":{"rendered":"DINAR OBSERVER DAILY \u2013 July 1st"},"content":{"rendered":"

Mnt Goat (Dinar Guru) –<\/span>\u00a0\u00a0<\/strong>…Some are saying that the Iraqi dinar is 1 to 1 in Iraq already. One of the reasons to reinstate the dinar is to be able to use it in the world market place. World Market Place means \u2018outside of Iraq\u2019, thus you are NOT in Iraq.\u00a0And until the rate changes on FOREX (with a significant increase)\u00a0and the banks are willing to exchange it for us<\/u>\u00a0\u2013 it makes no difference to you or I what is going on inside of Iraq.\u00a0Besides, I have a very good, reliable source in the CBI that tells me absolutely NOTHING has yet occurred and the dinar inside and outside Iraq is still at the rate of 1190 dinars to 1 US dollar.<\/u><\/strong>
\n______________________________________________________________<\/p>\n

\"\"<\/a>Iraq officially exits the FATF International Financial Control List<\/strong><\/span><\/h1>\n

BAGHDAD \/ Tomorrow ‘s Press:<\/strong> announced the International Financial Action Task Force “FATF”, on Sunday, “officially” out of Iraq from the follow – up area thanks to the achievements of the Iraqi Central Bank and the Office of the fight against money laundering and the financing of terrorism “significant progress”.<\/p>\n

The Central Bank of Iraq said in a press statement that “the International Financial Action Task Force officially announced the exit of Iraq from the follow-up area, because of the achievement of the Central Bank of Iraq and the Office of AML \/ CFT of significant progress in improving and addressing shortcomings.”<\/p>\n

He added that “Iraq has fulfilled all its obligations towards the recommendations of the group and address the requirements of the strategy of combating money laundering and financing of terrorism prepared by the Central Bank of Iraq.”<\/p>\n

“In addition to the enactment of the Anti-Money Laundering Law No. 39 of 2015, the issuance of instructions and regulations and the establishment of the Anti-Money Laundering and Terrorism Financing Council, as well as the Committee for the freezing of terrorist funds.”<\/p>\n

“Thus, Iraq is no longer subject to monitoring and follow-up by FATF,” the bank said.<\/p>\n

Article Credit: Alghadpress.com<\/a> (Special Thanks to Vernell Washington)<\/strong><\/em><\/p>\n

BGG ~ It means… ONE STEP CLOSER!!<\/em><\/span><\/h2>\n

______________________________________________________________<\/p>\n

Kaperoni (Dinar Guru) –<\/span><\/strong>\u00a0 Great article today talks about how they plan to\u00a0open the banking system to engage with international banks<\/u>.\u00a0\u00a0\u00a0This article just gushes with excitement as they get ready to move to Article VIII.\u00a0 If you remember that plan was in the IMF directives with the CBI send a positive message about the banking system…it’s coming.\u00a0\u00a0Now that the CBI is in compliance it’s just a waiting game for them to write the letter<\/u>.<\/strong>
\n______________________________________________________________<\/p>\n

Kaperoni (Dinar Guru) –<\/span><\/strong>\u00a0\u00a0 Quote from Donald J. Trump:\u00a0 “Just spoke to King Salman of Saudi Arabia and explained to him that, because of the turmoil & disfunction in Iran and Venezuela, I am asking that Saudi Arabia increase oil production, maybe up to 2,000,000 barrels, to make up the difference…Prices to high! He has agreed!<\/em>”\u00a0\u00a0As I stated before my concern was always increasing oil prices would cause Iraq to become lazy again and not move forward with the reforms.\u00a0…President Trump this morning…is calling on Saudi Arabia to increase oil production to lower gas prices.\u00a0\u00a0Reducing prices will also motivate Iraq.<\/u><\/strong>
\n______________________________________________________________<\/p>\n

Mnt Goat\u00a0(Dinar Guru) –<\/span><\/strong>\u00a0 Article:\u00a0 “THE SADRISTS PROMISE TO ANNOUNCE THE “BIG BLOCK” SOON<\/em>“\u00a0\u00a0I think this is going to happen until on or after July 1st date.<\/u>\u00a0\u00a0<\/strong>Politically how can Sadr possibly announce that Abadi is going to be the next PM before the recount with voters looking at this as a rigged election?\u00a0\u00a0Next also remember Abadi is still the PM until June 30th anyhow.\u00a0<\/strong>So how can Sadr speak out against the re-counting as if he did already announce Abadi as the new PM, it would look like Abadi was kissing up to Sadr to get a second term.\u00a0 They have to be very careful in how they handle this annoucement. But the good news is July 1st is just around the corner. Some…from Iraq are telling the people it will take 5 months to form the new government.\u00a0\u00a0…as far as I know the new PM has only 3 months (90 days), But then in the same breath he says the new government will be announced in the coming days<\/u>.<\/strong>
\n______________________________________________________________<\/p>\n

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

The Kurds and Sunnis are comfortable with Sadr\u2019s alliances and want to join him<\/span><\/h1>\n

Baghdad today –<\/strong> The alliance of Sowron, backed by the leader of the Sadrist movement Moqtada al-Sadr, that the latter will form the government with the forces affiliated with him, noting that the parties Kurdish and Sunni reassuring of his alliance and wants to join him.<\/p>\n

\u201cThe coalition of Sadr with the victory coalition led by Haider al-Abadi, and the stream of national wisdom led by Ammar al-Hakim, is not new, but there were agreements before the elections on the formation of a cross-sectarian alliance includes All components of the Iraqi people after the elections.\u201d<\/p>\n

\u201cAl-Shammari said that\u201d the alliance of Sadr and Abadi, Hakim, Amiri and some other forces will take over the task of forming the next government, \u201cpointing out that\u201d Kurdish blocs want to join the alliance. \u201d<\/p>\n

\u201cThe Kurds feel more comfortable and reassured when they see a Shiite bloc that includes several parties,\u201d he said, adding that \u201cthe coalition is the focus of attraction and interest of Sunni blocs as well.\u201d<\/p>\n

And locked the political blocs winning in the legislative elections according to the results of counting and sorting, \u201ce\u201d, negotiations to form the next government.<\/p>\n

The leader of the Sadrist movement Moqtada al-Sadr and the Prime Minister of the leader of the coalition of victory Haider Abadi, we announced, Saturday (June 23, 2018), a political alliance between the list of \u201cvictory\u201d and \u201cSarun\u201d according to eight political principles.<\/p>\n

A source close to the leader of the Sadrist movement, has revealed, last Saturday, to (Baghdad today), that the pillars of the largest bloc was completed by joining Abadi to the alliance of Sadr and Amiri and Allawi and Hakim, away from the coalition of the rule of law led by al-Maliki.<\/p>\n

Article Credit: Baghdadtoday.news<\/a><\/strong><\/em>
\n______________________________________________________________<\/p>\n

Randy Koonce (Dinar Guru) –<\/span>\u00a0<\/strong>\u00a0 First, are we in a new window of opportunity ‘right now’.\u00a0\u00a0\u00a0When I say that, it does not mean it will happen without a doubt in this current window; it does mean that there is a very good chance for the rate to finally change<\/strong><\/u>…At the bottom of every update I always state:\u00a0\u00a0\u00a0When it happens, check the cbi.iq to verify!!\u00a0<\/strong>\u00a0 That is where I check.\u00a0And if the Conversion rate is different -then it happened!\u00a0<\/strong>\u00a0On the website today (cbi.iq) it shows:\u00a0 US Dollar\u00a0\u00a0 US\u00a0\u00a0 1190…Until it changes on that website, no one will be able to go to any bank and exchange your dinar.\u00a0 It has to change there FIRST.\u00a0\u00a0<\/strong>…Here is what I do know…
\n______________________________________________________________<\/p>\n

Randy Koonce (Dinar Guru) –<\/span><\/strong>\u00a0<\/span>\u00a0\u00a0This should have been finished in May. There was an Organization, who shall remain nameless, that thought they knew better about what needed to happen in the election; and therefore did not release it as planned<\/strong>. That being said, our POTUS is VERY tired of waiting for this to go off. He has applied, and is still applying lots of pressure on this, along with several other major countries.\u00a0\u00a0The US has been involved in the background along with the UN to resolve the Election Mess and get this rolled out for the benefit of all of us.\u00a0\u00a0The Election results should be announced officially no later than the end of next week.\u00a0 Shortly after that announcement, we should\/will see the rate change<\/u>…<\/strong>
\n______________________________________________________________<\/p>\n

Randy Koonce (Dinar Guru) –<\/span><\/strong>\u00a0\u00a0 \u00a0What if the election does not get resolved<\/em>?\u00a0\u00a0From what I understand, if all goes bad and it looks like it will go forever, then POTUS is wanting this out anyway and will continue to apply pressure to get it finished.\u00a0This window will remain open until around the 8th of July<\/u>.\u00a0<\/strong>\u00a0…In my opinion, the pressure being applied will make this go, and will get it done much sooner.\u00a0\u00a0And, if you see the “Sadr and Abadi Play Nice” speech, with them having the largest block as the Papers are indicating now, it will be much sooner<\/strong><\/u>…So, hang in there Everyone.\u00a0 It’s coming, one way or the other!!\u00a0 We are close..\u00a0\u00a0Every large bank will exchange..\u00a0 RELAX the RV is coming<\/strong>… Breathe.
\n______________________________________________________________<\/p>\n

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

Talabani\u2019s family supports \u201csecond term\u201d to Abadi to avoid \u201cscenario\u201d that might ignite the\u00a0<\/strong>Kurdistan street<\/strong><\/span><\/h1>\n

Baghdad today – Sulaymaniyah –<\/strong> An informed source revealed Sunday that there is a tendency by the Patriotic Union of Kurdistan (PUK) to support the current prime minister, Haider al-Abadi, for a second term in order to prevent another person from reaching the post, which could create a new crisis in the region.<\/p>\n

The source said in an interview with “Baghdad Today” that “there is a trend supported by the Talabani family, to support Abbadi for a second term in the event he approved the group of demands for the National Union, including the return of part of the Peshmerga and Asayish forces to Kirkuk and management issues related to the position of governor.<\/p>\n

He added that “the issue of approving the continuation of sending the salaries of employees and support the share of 17% of the budget of the conditions also important, in addition to other conditions agreed by the party with the Democratic Party.”<\/p>\n

The source pointed out that “supporting the direction of Abadi came as a result of the uncertainty that the next prime minister will agree to send the amounts allocated to salaries of staff, which may restore the Kurdish street to demonstrate again and create a new crisis ahead of the parliamentary elections in Kurdistan, affect the status of the party in those elections” .<\/p>\n

And locked the political blocs winning in the legislative elections according to the results of counting and sorting, “e”, negotiations to form the largest bloc in preparation for the formation of the next government.<\/p>\n

The Prime Minister Haider Abadi and the leader of the Sadrist movement, Moqtada al-Sadr, announced last Saturday, an alliance between their coalition (victory and rest), to form the largest bloc within the Iraqi parliament.<\/p>\n

The Sadr, has announced in (June 13, 2018), the accession of the Conquest led by Hadi al-Ameri to the alliance to form the “largest bloc” within the Iraqi parliament, pointing out that the new alliance comes with the preservation of the tripartite alliance, which was concluded earlier, between The National Coalition and the Stream of Wisdom.<\/p>\n

Article Credit: Baghdadtoday.news<\/a><\/strong><\/em>
\n______________________________________________________________<\/p>\n

Chattels (Dinar Guru) –<\/span><\/strong>\u00a0\u00a0Recent news report states that the manual recount will not begin until Wednesday \/ Thursday of this week.<\/u>\u00a0 Historically manual recounts in Iraq have taken four weeks.\u00a0 Official announcement will involve review \/ action by the ” Iraqi Supreme Court “.<\/strong>
\n______________________________________________________________<\/p>\n

Mnt Goat\u00a0(Dinar Guru) –<\/span><\/strong>\u00a0…a German company namely Bertelsmann Stiftung, did a currency analysis of Iraq from 2015 to 2017…this report …is telling us the CBI does NOT intend to float the currency starting from the 1190 CBI rate. Next it tells us some kind of significant increase ($1.17-1.71 or ?) is going to happen from day 1 on the reinstatement, then this starting rate will by [be ?]\u00a0the launching rate on the global currency exchanges namely FOREX.<\/strong>\u00a0 …it is not going to take years or even months to get to a significant value rise that we want to go to the bank.\u00a0It is going to come right out of the gate with a substantial increase in value probably very close to $1.80 – $2.00 or a bit higher now that all the reforms are in place.<\/strong>
\n______________________________________________________________<\/p>\n

Kaperoni (Dinar Guru) –<\/span><\/strong>\u00a0<\/span>\u00a0 I saw…that someone posted that they expected Iraq to get into the WTO soon…it’s not happening but a year-and-a-half ago the WTO told Iraq until they reduce the dependence on oil there’s no chance<\/strong>…I believe the number they said was 70%.\u00a0 Iraq has a long ways to go before they’re ready for the WTO.\u00a0The reference of the WTO in itself does encourage currency reform which is a good thing<\/u>.\u00a0\u00a0In other words before Iraq gets in the WTO they’re going to need a private sector and begin to produce exports that will reduce the dependence on oil then they’ll be ready for the WTO.<\/strong>
\n______________________________________________________________<\/p>\n

\"\"<\/a>The largest bloc was settled away from Maliki\u2019s coalition .. Sadr will officially announce from Baghdad<\/strong><\/span><\/h1>\n

Baghdad today \u2013\u00a0<\/strong>A source close to the leader of the Sadrist movement, Moqtada al-Sadr, on Saturday, the healing of \u201cthe largest bloc\u201d in parliament, which will take over the task of forming the next government, away from the coalition of state law, pointing out that Sadr will officially announce this bloc from the capital Baghdad.<\/p>\n

The source said in an exclusive interview (Baghdad today), \u201cThe largest bloc, will include others and victory and Fatah and competencies for change and the movement of will and wisdom and patriotism apart from the rule of law,\u201d noting that \u201cwhat happened today is a prelude to announce the largest bloc to be announced Sadr in Baghdad , And in the presence of the heads of these blocks, during the current week or next.<\/p>\n

\u201cThe two sides agreed that the steps to form a government after the ratification of the election results by the Federal Court.\u201d<\/p>\n

The Prime Minister Haider al-Abbadi and the leader of the Sadrist movement Moqtada al-Sadr, earlier on Saturday, an alliance between the coalition victory and others, to form the largest bloc within the Iraqi parliament.<\/p>\n

\u201cAn agreement was reached on the formation of a cross-sectarian alliance between coalition and victory and victory,\u201d Abadi said during a joint news conference with al-Sadr.<\/p>\n

For his part, al-Sadr said during the conference that \u201cthe alliance with Abadi trans-sectarian through the agreement on a new program determines the most important work will be in the new government,\u201d calling for \u201creform of the judiciary and activate the role of the prosecution.\u201d<\/p>\n

\u201cThe government should continue to fight administrative corruption and bring anyone found guilty of corruption to justice.\u201d<\/p>\n

The Information Office of the Prime Minister, announced on Saturday (June 23, 2018), the arrival of Abbadi to Najaf, without giving further details.<\/p>\n

And locked the political blocs winning in the legislative elections according to the results of counting and sorting \u201celectronic\u201d, and waiting (re-counting and sorting manually) negotiations to form the next government.<\/p>\n

The leader of the Sadrist movement, Moqtada al-Sadr, had announced in (June 13, 2018), the accession of the alliance led by Hadi al-Amiri alliance to form the \u201clargest bloc\u201d within the Iraqi parliament, pointing out that the new alliance comes with the preservation of the tripartite alliance, Earlier, between Seeron and the National Coalition and the Stream of Wisdom.<\/p>\n

Artricle Credit: Baghdadtoday.news<\/a> (Special Thanks to Charles Bright)<\/strong><\/em><\/p>\n

BGG ~ This makes it… pretty much a SLAM DUNK. Sadr, Abadi (which I thought would happen all along), Ameri (slight surprise) and Hakim = PLENTY. I predict they will also include all the Sunnis and Kurds who wish to be included. This may well be the most inclusive Iraqi GOI yet.<\/span><\/h2>\n

Like I said in the beginning… relax. Let this happen.<\/span><\/h2>\n

______________________________________________________________<\/p>\n

Breitling (Dinar Guru) –<\/span><\/strong>\u00a0\u00a0People are always asking, \u201cIs this going to be a slow float or is it going to be fast<\/em>?\u201d\u00a0\u00a0I think there is going to be a hard revaluation and it goes up from there.<\/u><\/strong>\u00a0\u00a0But what if there is a small float in-between? \u00a0It doesn\u2019t mean anything. \u00a0They are going to have to add a real value to their currency. \u00a0Otherwise they are not going to be able to financially make it<\/strong>. \u00a0They can maintain, but their country is going to come apart\u2026I think it\u2019s coming down the road fast\u2026<\/u><\/strong>
\n______________________________________________________________<\/p>\n

Adam Montana (Dinar Guru) –<\/span><\/strong>\u00a0\u00a0 [Regarding the Article 8 requirement that a country must maintain no more than a 2% differntial between the official rate and the market rate for 90 days before it can transition to Article 8….\u00a0 Since Iraq finally was\u00a0able to maintain that compliance for\u00a0\u00a090 days\u00a0as\u00a0Friday, June 15, and since Iraq does not appear\u00a0to have been motivated to do that until now, do you agree this is a good indication<\/em>\u00a0that Iraq wants to move to Article 8 shortly,\u00a0especially since\u00a0they’ve been\u00a0had trouble\u00a0maintaining less than 2% previously<\/em>?]\u00a0\u00a0\u00a0Compliance\/entry into Article 8 does not magically influence the world to resume trading IQD in the same manner as we do other currencies you can find at any old exchange desk<\/strong>… all the way down to the mexican peso! Thinking about it this way can be a bit of a distraction, so I try not to put a ton of emphasis or importance on “Article 8”.\u00a0\u00a0The IQD will become “internationally recognized” once Iraq itself puts their faith into it – and that will be symbolized\/shown with an RV<\/u>.<\/strong>\u00a0When the CBI changes the rate, nobody will care about Article 8.
\n______________________________________________________________<\/p>\n

tman23 (Dinar Guru) –<\/span><\/strong>\u00a0\u00a0 The truth of the matter is Iraq has plans to implement monetary reform and get off the additional 3 zero money system. …THE FIRST THING YOU WILL SEE HAPPEN… The Introduction of the new currency…\u00a0This is NOT A\u00a0TURN ON THE ATM EVENT<\/em>\u00a0AND\u00a0RELEASE THE NEW CURRENCY NOTES<\/em>… THIS WILL BE AN EDUCATIONAL PROCESS<\/u>. They will introduce and describe the new currency notes and security features to EVERYONE…EVERYONE WILL SEE THE START OF THE EDUCATIONAL PROCESS AT THE SAME TIME ON THE NEW CURRENCY AND NOT JUST INSIDE OF IRAQ<\/u><\/strong>… PEOPLE TRAVEL TO IRAQ AND EXCHANGE TO USE THEIR CURRENCY SO THE WORLD WILL KNOW OF THIS CURRENCY NOT JUST IRAQI’S…\u00a0This is an exact statement made in Iraq “The new currency must come first as a prelude to lifting the 3 zeros from the currency notes<\/em><\/u>“…Make SENSE?\u00a0 AND 3 zero notes will never ever FLOAT…<\/strong>
\n______________________________________________________________<\/p>\n

\"Iraqi<\/p>\n

Spokesman for Sadr: Abadi among candidates to head government<\/span><\/strong><\/h1>\n

Iraq news –<\/strong> Spokesman for Leader of Sadrist Movement Muqtada al Sadr, Salah al Obeidi said Monday that current Iraqi Prime Minister Haider al Abadi is among the candidates to head the next government.<\/p>\n

In press statements, Obeidi explained that the issue of forming the next government will be clearer after Eid al-Fitr holidays, pointing out that if Abadi gains the confidence of other parties which won seats in the Parliamentary elections there will be no obstacles facing him to assume another term in office.<\/p>\n

The Parliamentary elections was marked by record low turnout. It was the first since Iraq declared victory over the ISIS group and the fourth since the 2003 US-led invasion that toppled Saddam Hussein.<\/p>\n

Article Credit: Thebaghdadpost.com<\/a>\u00a0<\/strong><\/em>
\n______________________________________________________________<\/p>\n

Kaperoni\u00a0(Dinar Guru) –<\/span><\/strong>\u00a0When you reintegrate with the world’s Financial system you must exit the peg and move to a float particularly in Iraq’s instance this is important<\/strong>.\u00a0 The reason being as capital flows through the central banks Capital Account it will create inflation in the country.\u00a0To counter such inflation being on a float allows the CBI to compensate by allowing the currency to appreciate.<\/strong>\u00a0This is well-documented.\u00a0\u00a0The hope is that the currency will rise fast as a result of significant investment in the country and has been stated as the Balassa-Samuelson effect<\/strong>.\u00a0 If one is to believe the statement from the overview of Iraqi Finance 2018 they have significant investment lined up to come into the country.\u00a0 Many people have challenged me over the years to provide credentials. My response was I’m not asking anyone to put trust in what I say but to validate what I say in the very documents that I reference.
\n______________________________________________________________<\/p>\n

Kaperoni\u00a0(Dinar Guru) –<\/span><\/strong>\u00a0How are you going to control inflation when large sums of money come into a country if you’re not going to float your currency<\/em>?\u00a0 All anyone needs to do is…read two or three of the documents from the IMF on the transition from fixed to float to understand how currency reform works.\u00a0\u00a0You cannot be pegged when large influxes of capital flow through the CBI, the only alternative to being pegged is a float.<\/u>\u00a0 This is not guesswork, the IMF themselves told the CBI back in 2012 when they were about to transition the move to a more liberal exchange rate regime.\u00a0The very definition of that is a float<\/u><\/strong>…we see the CBI follow the IMF time after time.\u00a0 Considering the IMF has an agreement with the CBI for monetary reform as well as trusteeship over the CBI the chances are very good that they’ll follow what they recommend.
\n______________________________________________________________<\/p>\n

Kaperoni (Dinar Guru) –<\/span><\/strong>\u00a0\u00a0 Over the last couple of years there are more than 10 articles talking about floating the Iraq dinar. There is only one article that talks about the timing is not right to float the Iraqi dinar.\u00a0My money is on the directives from the IMF, Iraq will float it is the only option.\u00a0 By definition moving to a more liberal exchange rate regime is moving to a float.\u00a0<\/strong>Monetary policy is not a random act. Changing exchange rate regimes going from a peg to a float Etc all have individual purposes…they are used to stabilize economies or combat inflation.\u00a0\u00a0Iraq is expecting a large influx of capital …some say it’s going to be the wild west of the Middle East this will put severe pressure on the financial system of the CBI.\u00a0 The recourse is get off the peg move to a float to combat the pressure allowing the currency to rise and value.<\/strong>
\n______________________________________________________________<\/p>\n

BTI-project.org – Iraq<\/span><\/strong><\/h1>\n

This is an excerpt from page 21 of this report…<\/strong><\/em><\/span><\/p>\n

8 | Currency and Price Stability<\/strong><\/p>\n

\"\"<\/a>The government\u2019s monetary policy since 2003 has focused on maintaining price stability and exchange rate predictability. The inflation has remained in the low since 2010. According to the CBI, the inflation rate is 1.4% (2015 estimates), while the World Bank estimates 2015 at -1.2%, and the country\u2019s international reserve volume also has decreased due to the sharp decline in oil prices. The independence of the CBI suffered a setback in January 2011 when former Prime Minister al-Maliki won a court ruling that placed independent institutions, including the CBI, under the control of the cabinet. In January 2012, the CBI raised the exchange rate of the Iraqi dinar to $1.19, causing a huge crisis that led the Supreme Judicial Council to issue an arrest warrant for CBI governor Sinan al-Shabibi in October 2012 on charges of corruption. Al-Shabibi received a seven-year prison sentence in absentia 2014, shortly before being acquitted of all charges. The difference between the official and parallel exchange increased from three percent in 2015 to nine percent in May 2016. The CBI introduced a number of policies to keep inflation low. The dinar remained widely stable and was worth $1.71 in early 2017.<\/p>\n

Article Credit: BTI-project.org<\/a>\u00a0(Special Thanks to David Tiff Duke)\u00a0<\/strong><\/em><\/p>\n

BGG ~ I have searched this, sourced it and verified what it said… This is, in fact, what it said.<\/span><\/h2>\n

However, I am not entirely certain this is not referring to an “internal valuation” of what they believe the IQD to be worth according to their own financial metrics (the BTI project – that is…)<\/span><\/h2>\n

______________________________________________________________<\/p>\n

Mnt Goat (Dinar Guru) –<\/span><\/strong>\u00a0\u00a0I still persist that mid-July is very good timeframe to maybe see the CBI moving ahead again on the project to delete the zeros. Yes, I do believe it is coming.<\/strong>\u00a0Let\u2019s just keep our fingers (and toes) crossed that nothing else comes up to interfere.
\n______________________________________________________________<\/p>\n

tlm724 (Dinar Guru) –<\/span><\/strong>\u00a0 Article:\u00a0 “dinar card is ready to use<\/em>”\u00a0\u00a0 Quotes:\u00a0 “announce International Islamic Ban announced launch first MasterCard card currency Iraqi dinar” “Ruffer used your card outside Iraq and through the Internet and the price of discharge according to the official price of the Central Bank of Iraq<\/em>.<\/u>”\u00a0 …very interesting. ...I researched the International Islamic Bank branch in Iraq…they do offer MasterCard and many benefits to their customers. Very good stuff…<\/strong>
\n______________________________________________________________<\/p>\n

Kaperoni (Dinar Guru) –<\/span><\/strong>\u00a0\u00a0\u00a0\u00a03 days now passed the 3-month IMF requirement,\u00a0CBI continues to be in compliance at 1200 to $1<\/u><\/strong>.
\n______________________________________________________________<\/p>\n

\"Moqtada<\/p>\n

Sadrist movement denies alliance with State of Law<\/strong><\/span><\/h1>\n

Iraq news –<\/strong> The political bureau of the Sadrist movement denied on Saturday news reports that the State of Law coalition would join an alliance between Sairun and Al Fatah.<\/p>\n

Diaa al-Asadi said in a statement the reports were baseless.<\/p>\n

The Sairun alliance which is backed by prominent Shia cleric Moqtada Al Sadr won the majority in the May 12 elections.<\/p>\n

Article Credit: Thebaghdadpost.com<\/a> (Charles Bright)<\/strong><\/em>
\n______________________________________________________________<\/p>\n

Kaperoni\u00a0(Dinar Guru) –<\/span><\/strong>\u00a0\u00a0…Iraq is 96% dependent on oil sales what that means is they could never sell oil below market price because they would be under cutting their own budget.<\/u><\/strong>\u00a0 Remember 70% of the budget is wages as most Iraqi’s are on the state payroll.\u00a0Selling oil for $32 a barrel would prevent them for making payroll.\u00a0<\/strong>\u00a0Until Iraq and diversify and create a market economy and reduce the dependence on oil they are at the mercy of meeting that budget.\u00a0\u00a0The actual cost to produce a barrel of oil is about $10 yes but Iraq has many other expenses on top of that that make the sale of any oil for less than $40 not profitable<\/u>.<\/strong>
\n______________________________________________________________<\/p>\n

Kaperoni\u00a0(Dinar Guru) –<\/span><\/strong>\u00a0 With 96% oil dependency Iraq must pay for everything from oil sales from infrastructure projects, salaries of employees, defense spending and of course a lot goes to corruption.\u00a0Iraq’s budget for 2018 was $88 billion dollars.\u00a0Iraq currently produces about 4.5 million barrels per day of oil.\u00a0They would have to make at least $62 a barrel to break even on the budget including production cost.\u00a0\u00a0This is why the idea of oil credits or selling oil for $32 is just not feasible.\u00a0<\/u>\u00a0 I’ve said for years the dinar that we hold that was sold outside Iraq will never go back…it was part of a controlled leak to prime the pump of sorts to create momentum for the Iraqi dinar worldwide which eventually will end up in other central banks around the world.<\/u><\/strong>
\n______________________________________________________________<\/p>\n

Breitling (Dinar Guru) –<\/span><\/strong>\u00a0 We have new people getting into the dinar and they\u2019re trying to learn what you and I learned a long long time ago.<\/strong>\u00a0 The question is: \u201cIf there\u2019s trillions notes in the hands of the Iraqi citizens\u2026when the value increase wouldn\u2019t the vast majority of Iraq\u2019s citizens become instant millionaires?<\/em>\u201d\u00a0\u00a0No<\/u><\/strong>.\u00a0 Again, when the value of the dinar goes up in Iraq, remember everything is at a tenth of a penny, and when you go up to buy a coke or a candy bar it\u2019s at a tenth of a penny.\u00a0\u00a0So when it goes up a dollar, they are going to charge you a dollar for the coke\u2026Services and goods are going to rise up with the value as the currency goes up<\/u><\/strong>.\u00a0 But you and I don\u2019t live in that world.\u00a0 Why?\u00a0\u00a0Because we bought the currency with the US dollar<\/strong><\/u>\u2026They are not going to be instant millionaires overnight\u2026That\u2019s the difference.\u00a0 Iraqis did not exchange dollars for their dinar\u2026
\n______________________________________________________________<\/p>\n

\"IraqiIraq’s former PM Nouri Al Maliki ‘not welcome’ in new government<\/strong><\/span><\/h1>\n

Nationalist cleric Moqtada Al Sadr and Iran-backed militia leader Hadi Al Amiri have found common ground in excluding the former leader<\/strong><\/em><\/p>\n

There is no place for former Prime Minister Nouri Al Maliki in the coalition to form Iraq’s next government, a spokesman for the recent election’s largest political bloc has said.<\/p>\n

\u201cNouri Al Maliki is not welcome to join the coalition,\u201d Dhiaa Al Assadi, a close aide to Shiite Cleric Moqtada Al Sadr, told The National.<\/p>\n

Last month’s parliamentary elections saw electoral lists led by nationalist Mr Al Sadr and Iranian-backed militia chief Hadi Al Amiri win the largest number of seats. The two leaders announced their intention to form an alliance of their political blocs on Wednesday.<\/p>\n

They called on other political groups to join them in a coalition. Notably absent from that invitation was Mr Al Maliki.<\/p>\n

It appears a decisive set back for Mr Al Maliki, who in the past managed to cling to power despite rising unpopularity.<\/p>\n

Mr Al Maliki took power in 2006 with the blessing of both the United States and Iran. But he rapidly alienated the country’s Sunni and Kurdish minorities by shutting them out of key security positions and undermining power-sharing agreements.<\/p>\n

During the 2010 elections, a secular bloc headed by vice president Ayad Allawi won the most seats in parliament. But Tehran backed Mr Al Maliki to remain in power, who was able to form a “national unity” government with the help of Mr Al Sadr.<\/p>\n

Mr Al Maliki was finally forced to step down in 2014 following the collapse of a third of Iraq’s military and police units in the face of an ISIS offensive which overran a third of the country. He immediately assumed the largely ceremonial role for vice president. He was replaced as premier by fellow Dawa Party member Haider Al Abadi.<\/p>\n

As general secretary of the Dawa party, Mr Maliki has retained political influence, though his State of Law coalition performed bellow expectations in the recent elections, winning just 26 seats.<\/p>\n

The blocs controlled by Mr Al Sadr and Mr Amiri control 101 seats, short of the 165 required to form a majority.<\/p>\n

Mr Al Sadr’s Sairoun alliance, which also includes the Communist Party and secular candidates, won 54 seats, while Mr Amiri’s Fatah coalition of Shiite paramilitaries won 47 seats.<\/p>\n

Incumbent Prime Minister Abadi’s Victory alliance took 42 seats.<\/p>\n

“His Eminence [Mr Al Sadr] has always welcomed Dr Al Abadi to join his coalition,” Mr Al Assadi said.<\/p>\n

The Shiite cleric has previously vowed that he would not allow Mr Maliki another term as prime minister.<\/p>\n

Even his former backers in Tehran may have given up on him. \u201cNouri Al Maliki was Iran\u2019s best person but they accept that he\u2019s not part of the next government because of the instability caused\u201d during his time in power, Renad Mansour, senior research fellow at London\u2019s Chatham House, told The National.<\/p>\n

\u201cAl Sadr\u2019s stance has been to side-line Nouri Al Maliki,” he added.<\/p>\n

Mr Al Sadr’s strong election performance marked the culmination of years of speaking out against corruption and government mismanagement.<\/p>\n

He first built his name outside of mainstream politics, as the head of the Mehdi Army militia which fought against the US occupation using sophisticated bombs likely supplied by the Iranians. But he has remained a staunch nationalist, critical of Iranian interference in Iraq.<\/p>\n

For his proposed coalition to succeed, Mr Al Sadr will need to overcome grievances from members of his own bloc who insist Tehran should not be permitted to interfere in Iraq’s affairs.<\/p>\n

Iran backs Mr Al Amiri, a militia leader who spent two decades fighting former dictator Saddam Hussein from Iran. He is also close to General Qassem Soleimani, commander of foreign operations for Iran’s Revolutionary Guards who has great influence in Iraq.
\nArticle Credit: Thenational.ae<\/a>\u00a0(Special Thanks to Charles Bright)<\/strong><\/em><\/p>\n

Charles Bright – NAILED IT!!<\/span><\/h2>\n

______________________________________________________________<\/p>\n

Kaperoni\u00a0(Dinar Guru) –<\/span><\/strong>\u00a0\u00a0The CBI is now allowing consumers in Iraq to get cash back from point-of-sale transactions up to 2 million Iraqi dinar per day with a small fee.\u00a0Now why would they do this if there was a RV or RI about to happen? They wouldn’t! There is no RV or RI.<\/strong>\u00a0 As I’ve said over and over and over again monetary policy just doesn’t work that way.\u00a0\u00a0<\/u>Once the CBI accepts IMF Article VIII they will get off the peg and move to some kind of a float which will allow the dinar to gradually rise over time<\/u>. The pace of that rise is yet to be determined.\u00a0\u00a0<\/strong>Could the Iraqi dinar ever rise to a dollar in value<\/em>?\u00a0Yes I believe it could but it’ll take time. The process to raise the value will be based on sound monetary policy not some overnight event.<\/strong>
\n______________________________________________________________<\/p>\n

Breitling (Dinar Guru) –<\/span>\u00a0\u00a0Phenomenal news out of Iraq<\/u><\/strong>.\u00a0 What happened\u2026is going to push the revaluation of the dinar that much quicker and that much more\u2026Security council\u2026letting the CBI out of sanctions that happen on June 6th or 7th\u2026It\u2019s a big deal for us<\/u><\/strong>.\u00a0 There are a lot of entities and persons in Iraq that have been sanctioned and the CBI was one of them.\u00a0 People don\u2019t realize this.\u00a0 The CBI could have revalued under the sanctions they were under.\u00a0 All they had to do was reduce the note count.\u00a0 So what does it mean for us?\u2026[Post 1 of 2]
\n______________________________________________________________<\/p>\n

Breitling\u00a0(Dinar Guru) –<\/span><\/strong>\u00a0It\u2019s not a coincidence that Iraq got out of these sanctions knowing where the price per barrel is going to go and the next thing you know they\u2019re out of these sanctions\u2026\u00a0\u00a0So they are not going to have as many US dollars because the price per barrel is going to go down<\/strong>.\u00a0 What are they going to use?\u00a0\u00a0They are going to use the Iraqi dinar.\u00a0 So it\u2019s a big huge deal for us<\/u><\/strong>.\u00a0 They were going to revalue anyways but\u00a0now they\u2019re open to that much more of the market and the market is that much more open to them<\/strong><\/u>. \u00a0 It was a huge weekend.\u00a0 People should be excited.\u00a0 This thing is going to come down\u2026that\u2019s reality\u2026.Everything is set in place.\u00a0\u00a0They are going to revalue their currency.\u00a0 They\u2019re going to add value to it.\u00a0 They are going to have to…\u00a0<\/u><\/strong>\u00a0[Post 2 of 2]
\n______________________________________________________________<\/p>\n

<\/p>\n

Iraq\u2019s parliament speaker calls for election rerun, after fire hits ballot boxes warehouse<\/span><\/h1>\n

BAGHDAD:<\/strong> Iraqi Prime Minister Haider Al-Abadi said on Sunday that the burning of a storage site in Baghdad where ballot boxes were kept was part of a plot to harm Iraq\u2019s democratic process, the first government indication the incident was deliberate.
\n\u201cBurning election warehouses … is a plot to harm the nation and its democracy. We will take all necessary measures and strike with an iron fist all who undermine the security of the nation and its citizens,\u201d Abadi said in a statement…<\/p>\n

Read more:\u00a0\u00a0http:\/\/www.dinarupdates.com\/blog\/<\/a><\/strong><\/em><\/p>\n

BGG ~\u00a0 Why would this be Sadr?? He loves his position and has nothing to fear from a recount… especially if these accusations about the IHEC (or HEC – whatever they are calling it this week) are true and we get an unbiased panel of 9 judges instead.<\/span><\/h2>\n

______________________________________________________________<\/p>\n

Walkingstick\u00a0(Dinar Guru) –<\/span><\/strong>\u00a0\u00a0 It\u2019s important to understand Iraq has a seated government and Abadi is the Prime Minister.<\/strong>\u00a0 The election recount is just about being caused by government officials who are the “spoiled brats, the sore losers.”\u00a0\u00a0\u00a0Sadr will appoint Abadi as Prime Minister for a second term. He will not wait for a recount.\u00a0 The elections are over!\u00a0 The elections have nothing to do with Iraqi Dinar re-in statement.\u00a0<\/strong>\u00a0What you are now reading about in print like the UNSC release of ALL of the CBI\u2019s frozen assets includes six to seven tons of gold. . . $81 Billion . . . those assets, even though frozen, accumulated interest\u00a0 for so many years.\u00a0\u00a0Iraq could have revalued before these assets were released but not at the rate they can since the release.\u00a0 Enough funds IMO they can come out at over $3.00 . . .with a higher rate than we anticipated.<\/strong><\/u>
\n______________________________________________________________<\/p>\n

Delta (Dinar Guru) –<\/span><\/strong>\u00a0\u00a0The UN Security Council (UNSC) released all remaining sanctions of the last 16 years.\u00a0 This means the rate can go back to over $3.00.<\/strong>\u00a0 In 2003 the UN took Iraq\u2019s currency, the dinar, down to 1\/10 cent to prevent Sadaam from using funds for terrorism.\u00a0\u00a0T<\/u>he frozen assets the UNSC released of the Central Bank of Iraq (CBI) were in the mega $$.\u00a0\u00a0 This is HUGE!\u00a0 Iraq will have their currency in a 2% compliant rate for 90 days on June 15 as required by the IMF.<\/u>\u00a0\u00a0<\/strong>The Iraq currency needs to see re-instatment shortly. The revaluation is separate from the Iraq Elections.\u00a0\u00a0Alak, the CBI governor has said, “Lift restrictions on exchange rate 1st half of 2018.”\u00a0\u00a0CBI will pull the trigger either the last week of June or last 10 days of June.<\/u><\/strong>
\n______________________________________________________________<\/p>\n

Kaperoni (Dinar Guru) –<\/span><\/strong>\u00a0\u00a0\u00a0My guess is al-Maliki is behind this fire<\/strong>… fits his MO.\u00a0\u00a0Destroy the ballots than there can’t be a recount.\u00a0 Course his goal is a new election.<\/strong>
\n______________________________________________________________<\/p>\n