{"id":15505,"date":"2018-08-23T21:56:44","date_gmt":"2018-08-24T02:56:44","guid":{"rendered":"https:\/\/www.dinarupdates.com\/observer\/?p=15505"},"modified":"2018-08-25T08:29:45","modified_gmt":"2018-08-25T13:29:45","slug":"dinar-observer-daily-august-23rd-3","status":"publish","type":"post","link":"https:\/\/dinarupdates.com\/observer\/?p=15505","title":{"rendered":"DINAR OBSERVER DAILY \u2013 August 24th"},"content":{"rendered":"

Don961 (Dinar Guru) –<\/span><\/strong>\u00a0 \u00a0imo…news is slow this week while the country celebrates Eid<\/strong>…many sites stop posting articles completely…others that continue offer little except for articles about endless political meetings and conflicting opinions about alliances,\u00a0 who is aligning with who, who’s holding out for better deals, etc. to get the majority bloc...bottom line, results won’t be given until after Eid…they are under pressure to get it done<\/strong>…so we’ll see what shakes out…
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Adam Montana (Dinar Guru) –<\/span><\/strong>\u00a0\u00a0 […You said in your last update we are in the final stretch and they could do it NOW<\/em>…]\u00a0\u00a0\u00a0I agree with the premise that we are in “green light” territory.\u00a0 Sunday is the soonest I expect to see any\u00a0<\/strong>major news… we will see!
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Adam Montana (Dinar Guru) –<\/span><\/strong>\u00a0<\/span>\u00a0 …it’s holiday in Iraq, nothing will happen today through Saturday. Good news, though!\u00a0Although it’s not “officially official”, there are enough reports out to satisfy me that Elections have been approved, which allows MPs (Members of Parliament) to move onto the next stage, which is appointing a President<\/u>. Once this is done, and that should not be long, that will free them up to work on various little things like… oh, I don’t know… HCL<\/strong>!\u00a0 …this was a long process, but once Holiday is over I am expecting a bit of change in the lull we’ve been riding through.
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BGG ~ If you need a quote, to sell Dinar (or buy) – Please leave me a message on voicemail, send a text, an e-mail or FaceBook message me. These all work.<\/span><\/strong><\/h2>\n

Our Current Buy-back rate is $825 per million.<\/span><\/strong><\/h2>\n

www.TheDinarExchange.com<\/em><\/span><\/strong><\/a><\/h2>\n

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ChrisC (Dinar Guru) –<\/span><\/strong>\u00a0 \u00a0Article:\u00a0 “An economist reveals the bank’s printing of large amounts of currency with small categories to replace them with damage<\/em>”\u00a0\u00a0 Think about this real quick.\u00a0 For example,\u00a0how particularly worthlesss is that 100 denom at the current rate?\u00a0 Why bring these out at the current rate?<\/strong><\/u>
\nIt seems there is more to the story as the plot thickens with this and the revealing of the specimen notes.\u00a0 IMHO, I think we\u2019re staring at the end of the Turkmenistan model.\u00a0 I suspect there is a a delicate coordination that needs to be worked out and much communication between several parties to get it on track.\u00a0 Just my 2 cents in consideration of current information…
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Don961 (Dinar Guru) –<\/span><\/strong>\u00a0\u00a0 Article:\u00a0 “An economist reveals the bank’s printing of large amounts of currency with\u00a0small categories<\/u>\u00a0to replace them with damage<\/em>”\u00a0 \u00a0imo…it’s just as the article states…the merchants points out about the severe shortage of smaller denomination notes in the marketplace…the existing notes are damaged and need to be replaced…so the CBI is doing that…they just need to convince the banks to receive and replace them<\/strong>…as these notes do get replaced, people will start using them more and more…and introducing even smaller note categories and coins, with higher value, will not be such a shock after having to use all those high 3 zeroes for so long<\/u>…Also, even the printing of more of these smaller categories shows a shift in monetary policy<\/strong>…they needed to print the higher 3 zeroes because that is what the currency value required for use in the marketplace…there has obviously been a shift in thinking and circumstances…so smaller, 3 zero-less notes will soon be all the rage<\/u>…<\/strong>
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Kaperoni (Dinar Guru) –<\/span><\/strong>\u00a0\u00a0 I…got a note from another member who wrote the IMF and asked about Iraq’s Article IV Consultation\u00a0the response indicates that the IMF is waiting until after the formation of the government which could be next year hopefully sooner.<\/strong>\u00a0 I have said in the past that I believe that consultation must occur prior to Iraq moving to Article VIII it’s not a requirement but it would be a good review of the banking system and encouragement.\u00a0If I am correct and the CBI is going to wait until that consultation occurs then we have a few more months to wait.\u00a0\u00a0Though technically the CBI could write the letter to the IMF at any moment and request Article VIII acceptance. And if they are in compliance the IMF would would agree.<\/u><\/strong>
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Chattels (Dinar Guru) –<\/span><\/strong>\u00a0 My sense is that there will be an announcement of a largest bloc sooner rather than later in this election cycle because there is a movement to avoid quotas.\u00a0\u00a0\u00a0In order to do so the largest bloc must be clearly established at \/ by the convening of the Parliament and election of the President \/ Speaker of Parliament.\u00a0 There is talk of Iraq being out of compliance on the spread between the official rate and the parallel market rate. \u00a0<\/strong>[NOTE:\u00a0As of 8-20-2018 the rate has remained within 2% range for 90 days<\/strong>.]
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Kaperoni (Dinar Guru) –<\/span><\/strong>\u00a0Well, unoffically the CBI seems to have fallen out of compliance now with the spread at 1215 to $1<\/strong>.\u00a0What that means more than likely is they will have to get back in compliance and hold it for another 90 days. So – unfortunately it doesn’t look like the Central Bank of Iraq will be moving to Article VIII anytime soon<\/strong>. I’m not officially writing off the Central Bank of Iraq yet going to give it a day or two to make sure they are in or out of compliance.\u00a0Because these numbers are not official if tomorrow’s numbers are lower they could be back in compliance<\/strong>. On another note it looks like the government is moving forward with the largest bloc being formed and announced.
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Currency365 (Dinar Guru) –<\/span><\/strong>\u00a0\u00a0 “The Iraqi Federal Court also approved Today the manual recount of the disputed votes cast during the parliamentary election, while previous Prime Minister Nouri al-Maliki met with US Special Presidential Envoy Brett McGurk on Sunday.”\u00a0 …Iraq will announce the largest bloc in the coming hours!!! LET’S SEE WHO’S IN AND WHO’S OUT…standby.
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Mnt Goat (Dinar Guru) –<\/span><\/strong>\u00a0\u00a0 “…the judiciary announced that they completed ratification of the names of the winners of the last parliamentary elections. \u00a0On Monday, Aug 20th, was quoted, the names of the winners of the elections in the Federal Court will be approved and announced<\/em>.”\u00a0\u00a0So this week should be exciting for us but not RV exciting<\/strong>. The question now still remains\u00a0 –\u00a0What will the CBI now do since the election saga is just about over<\/em>?\u00a0I am told they will progress forward with the \u201cproject to delete the zeros\u201d once again<\/strong>. We can do nothing but take a deep breath, relax and wait and see how the CBI reacts.
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Kaperoni (Dinar Guru) –<\/span><\/strong>\u00a0\u00a0 “Iraq\u2019s Federal Supreme Court has now ratified the election results<\/em>”\u00a0\u00a0So with the ratified election results<\/u>\u00a0political parties are meeting to form the largest bloc. An official announcement may come in the next day or so.\u00a0<\/strong>
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URGENT Abadi calls on infallible to call the new parliament to convene and assign the candidate of the largest bloc to form a government<\/span><\/h1>\n

Baghdad: Al-Furat News –<\/strong> Prime Minister Haider al-Abbadi, President of the Republic Fuad Masum, called for the new House of Representatives to convene.<\/p>\n

Abadi said in a televised speech on the occasion of the ratification of the Federal Court on the results of the elections of the House of Representatives “after the announcement of the Federal Court ratification of the results of the elections of the House of Representatives I thank the people of the Iraqi people to complete the maturity of the constitutional elections and their contribution to the vote for candidates for membership of the House of Representatives…<\/p>\n

Read more:\u00a0\u00a0http:\/\/www.dinarupdates.com\/blog\/<\/a><\/strong><\/em>
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Chattels (Dinar Guru) –<\/span><\/strong>\u00a0 Article:\u00a0 “Central Bank: adopt a mechanism to prevent rising from $ 100 thousand dinars Al121<\/em>”\u00a0\u00a0 Quote:\u00a0 “…\u00a0the Central Bank of Iraq several measures and mechanisms adopted in order to maintain the stability of the dollar exchange rate against the Iraqi dinar at 121 thousand dinars for each $ 100<\/em>.”\u00a0\u00a0The foregoing article is interesting in that it confirms the intentionality of the CBI regarding maintaining a stability range on the value of the dinar relative to the dollar.<\/strong>
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Adam Montana (Dinar Guru) –<\/span>\u00a0\u00a0\u00a0<\/strong>[..<\/strong>if, (big IF) the election results become official by the end of next week (after holiday) how long would you speculate that it would take to seat the new parliament and start conducting business? I realize this is Iraq and anything or nothing may happen SOON<\/em>.]\u00a0\u00a0 We’re looking at about a 30 day cycle right now, IMO<\/strong>
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Don961 (Dinar Guru) –<\/span><\/strong>\u00a0\u00a0 Article:\u00a0\u00a0\u201cAn economist reveals the bank’s printing of large amounts of currency with small categories to replace them with damage<\/em>\u201d\u00a0\u00a0 …from previous articles …\u00a0this will also help get more of the existing 3 zeroes out from under those mattresses … and replace them with these smaller denominations …<\/strong>\u00a0because as other articles showed from the CBI\u00a0… these lower denom notes will be pushed … in the marketplace … and in the banks .. which will also get citizens enured to using smaller notes … and make the transition to the RI lower denoms much more realistic psychologically … another step<\/strong>…imo
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Federal Court endorses the results of parliamentary elections<\/strong><\/span><\/h1>\n

BAGHDAD \u2013<\/strong> The Federal Court on Sunday approved the final results of the elections of the Iraqi Council of Representatives.<\/p>\n

\u201cThe court held its session this morning, in the presence of its full members, and considered the request to ratify the final results of the elections of the Iraqi Council of Representatives,\u201d said the spokesman of the court, Ayas al-Samuk, said \u201cit has checked the names received from the Commission The Independent High Electoral Commission annexed its book dated 17\/8\/2018.<\/p>\n

\u201cAfter reviewing and deliberating on the names and objections to some of them, the Supreme Federal Court issued this afternoon (19\/8\/2018), its decision to ratify the names received, and issued the resolution by consensus.\u201d…<\/p>\n

Read more:\u00a0\u00a0http:\/\/www.dinarupdates.com\/blog\/<\/a><\/strong><\/em>
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tman23 (Dinar Guru) –<\/span><\/strong>\u00a0 \u00a0 “remove 000’s” does NOT mean a LOP. It just means they want to get them “off the street<\/em>“.\u00a0\u00a0\u00a0 A. FACT REGARDING A MEETING AMONG BANKERS IN DUBAI…A PERSON FROM THE CBI USED THE PHRASE…LIFT THE ZEROS FROM THE NOTES…That does not indicate removing anything from the streets, it indicates removing 3 zeros from the notes<\/strong>…<\/p>\n

BGG ~ I could not disagree more with this commentary… just silly.<\/em><\/span><\/h2>\n

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Chattels (Dinar Guru) –<\/span><\/strong>\u00a0\u00a0 […is that 2% really going to be held to the letter<\/em>]\u00a0\u00a0\u00a0Actually there is no ” official ” information so we are guessing at best…\u00a0as RandyK\u00a0 stated, this may not be a “textbook” economic process or event.<\/u><\/strong>
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Randy Koonce (Dinar Guru) –<\/span><\/strong>\u00a0\u00a0 Everyone asks me:\u00a0\u00a0How does Iraq Pay for this<\/em>?\u00a0\u00a0This event does not Cost Iraq anything.<\/strong>\u00a0\u00a0 Many say that Iraq has over $35 trillion out on the market and would never be able to pay for this.\u00a0 The truth is Iraq has only 35 trillion and that includes the new bills.\u00a0<\/strong>\u00a0What do I mean by new bills<\/em>?\u00a0\u00a0\u00a0Those are the 1, 5, 10, 20 dinar notes<\/strong>…\u00a0When they RV, it will by design bring in the Large Bills:\u00a0 “Remove the 000’S” from the Street<\/strong>“.\u00a0\u00a0 If you notice,\u00a0“remove 000’s” does NOT mean a LOP<\/u>.<\/strong>\u00a0 It just means they want to get them “off the street”.\u00a0\u00a0 And by the intentional design of this event,\u00a0if you bring the RV out low, like at 10 Cents and the USD is worth more than the Dinar, then the Dinar will not come off the street because they will keep their Dinar and just use the USD.\u00a0<\/strong>
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Hakim\u2019s movement confirms near the resolution of the largest bloc with alliances Sadr and Abbadi<\/a><\/span><\/h2>\n

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Kaperoni\u200f (Dinar Guru) –<\/span><\/strong>\u00a0<\/span>\u00a0The Federal Court in Iraq will validate the election results on Monday<\/strong><\/u>
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Randy Koonce (Dinar Guru) –<\/span><\/strong>\u00a0<\/span>\u00a0\u00a0First, we are in a new window of opportunity ‘right now<\/u>‘.\u00a0<\/strong>\u00a0 When I say that, it does NOT mean it will happen “without a doubt in this current window” (Remember:\u00a0 It’s Iraq!).\u00a0\u00a0\u00a0What it does mean is that there is a very good chance for the rate to finally change.\u00a0\u00a0Now<\/u>.\u00a0<\/strong>\u00a0…I hope that one day I might get the opportunity to explain why this has taken so long.\u00a0 There are so many factors at work.\u00a0 More than one person and\/or agency has had influence on the RV.\u00a0 It has become far more political than anyone ever intended or expected.\u00a0 Also, for anyone who thinks this will come out at 10 cents and float up –\u00a0 they do not know how this system will work and did not read the right articles from the right people.\u00a0This was never planned to be an ‘economic text book’ event.<\/u>\u00a0 The Currency will be a MANAGED FLOAT.\u00a0 The word ‘managed’ is the clue.\u00a0\u00a0<\/strong>\u00a0It means that ‘someone’ will determined when to move it and how much.\u00a0\u00a0The Dinar right now is on a Managed Float.\u00a0 So, you can see that if it does not RV that it will not move<\/u><\/strong>…
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Randy Koonce (Dinar Guru) –<\/span><\/strong>\u00a0<\/span>\u00a0 People say that it is not pegged to the Dollar anymore.\u00a0 That is BS.\u00a0\u00a0The Dinar is currently pegged to 3 currencies, and will continue to be pegged that way.\u00a0\u00a0 When they change the value, they will be able to determine how much and where.<\/strong>\u00a0 No one knows the exact Rate other than Shabibbi (still involved in the CBI) and the Governor of the CBI.\u00a0\u00a0\u00a0They were given a “Range to Revalue the Currency”.\u00a0\u00a0\u00a0And that range begins at $1.50.\u00a0\u00a0 Iraq actually needs it to be around $2.50 to be able to pay everyone and everything<\/u>, and $1.50 will not leave them the ability to pay back the loans they will receive.\u00a0\u00a0 So, I am of the OPINION it will\u00a0come in higher than that.\u00a0<\/strong>\u00a0But we will see…\u00a0\u00a0 [post\u00a02 of 3….stay tuned]
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\"\"<\/a>
\nUrgent .. The coming hours will witness the announcement of the largest bloc!!<\/a><\/span><\/h2>\n

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Randy Koonce (Dinar Guru) –<\/span><\/strong>\u00a0\u00a0\u00a0Right now, the pressure for this to take place is Very Great.\u00a0 As in, ‘Extremely Huge’<\/u>.<\/strong>\u00a0Our POTUS does not care who the PM will be.\u00a0 He believes we can work with anyone.\u00a0\u00a0…However, there is an ‘agency’ who got in the middle of their election process, and once again delayed the rate change.\u00a0 Now, that\u00a0 ‘agency’ is really wanting this to happen.<\/strong>\u00a0\u00a0 So, what do we need to see?\u00a0\u00a0We need to see the Election ratified by the Federal Court; the ‘Coalition’ needs to be announced; and the next PM will then be announced. Then our event will happen!\u00a0<\/strong><\/u>\u00a0However, if these events drag out, then the Event we are looking for just might happen without the Government.\u00a0 It’s possible.\u00a0\u00a0So our ‘window’ will last to the end of the month of August, with a strong possibility for next week.\u00a0 The pressure will only get stronger closer to end of month<\/strong><\/u>.\u00a0 …We REALLY are in the final stages of this.\u00a0\u00a0 I know that this administration wants this to be over, and they (he) wants it over NOW!!\u00a0 We are SO close …So, hang in there Everyone.\u00a0 It’s coming, one way or the other!!\u00a0 Breathe.\u00a0\u00a0 [Post 3 of 3]
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Kaperoni (Dinar Guru) –<\/span><\/strong>\u00a0\u00a0\u00a0Iraq is on the verge of falling out of compliance at today’s auction 1212 to 1 US dollar.\u00a0<\/strong>If they don’t reverse this in the next day or so they will fall out of compliance and then I expect the wheels to come off as Maliki attempts to drain dollars to help Iran.\u00a0\u00a0And despite what the gurus will say, it could be months at least three but probably more like years before they get back in line because I don’t expect sanctions on Iran to be lifted anytime soon.\u00a0<\/strong>\u00a0Crooks like Maliki will realize that they are out of compliance and do everything they can to help their allegiance to Iran and to reverse that it could take years. The last time this occurred was in 2012 and look it’s 2018 now.\u00a0\u00a0Ideally I believe the US Embassy in Iraq should step in and remove all of these corrupt politicians and start with a clean slate with the hope of a short window to begin reforms.\u00a0<\/strong>\u00a0So the next two to four weeks will be very telling… To see if the CBI can maintain the spread and if the government can be formed.
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Randy Koonce (Dinar Guru) –<\/span><\/strong>\u00a0<\/span>\u00a0\u00a0First, we are in a new window of opportunity ‘right now<\/u>‘.\u00a0<\/strong>\u00a0 When I say that, it does NOT mean it will happen “without a doubt in this current window” (Remember:\u00a0 It’s Iraq!).\u00a0\u00a0\u00a0What it does mean is that there is a very good chance for the rate to finally change.\u00a0\u00a0Now<\/u>.\u00a0<\/strong>\u00a0…I hope that one day I might get the opportunity to explain why this has taken so long.\u00a0 There are so many factors at work.\u00a0 More than one person and\/or agency has had influence on the RV.\u00a0 It has become far more political than anyone ever intended or expected.\u00a0 Also, for anyone who thinks this will come out at 10 cents and float up –\u00a0 they do not know how this system will work and did not read the right articles from the right people.\u00a0This was never planned to be an ‘economic text book’ event.<\/u>\u00a0 The Currency will be a MANAGED FLOAT.\u00a0 The word ‘managed’ is the clue.\u00a0\u00a0<\/strong>\u00a0It means that ‘someone’ will determined when to move it and how much.\u00a0\u00a0The Dinar right now is on a Managed Float.\u00a0 So, you can see that if it does not RV that it will not move<\/u><\/strong>…
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