DINARESGURUS.BLOGSPOT.COM__________________________

Wednesday, August 2, 2017

The Big call w/Bruce Intel only

DINAR GURUS UPDATE, 2 AUGUST

8-2-2017   Intel Guru Frank26   In conclusion...we all know that without the currency reform they can’t move forward.  I do believe the 1-to-1 100%.  They have to IMPLEMENT the reforms to the IMF.  The IMF should approve it tomorrow [Tuesday].  If so...they’re got the GREEN-LIGHT and they are ready to go and pull the trigger.  Everything spells INTERNATIONALISM!  They just need to announce it!   [post 2 of 2]

8-2-2017   Intel Guru Bruce  
   What we are hearing from Iraq’s point of view is they were going to have the IMF meeting in Iraq today [Tuesday]...   I do know that things have occurred over there with the Iraqi citizenry where they do have a new rates and do have their new Qi cards which I refer to they have a share of the oil and gas exploration revenue on those cards.  ...Today this morning for the citizens in Iraq, those cards were live and accessible.  They were able to access those funds at the new rates...  That has to tell us that we are very close. ...I think the IMF meeting was an overall success. I believe what Iraq needed to do is present their rate to the IMF today and I believe they did that successfully.  I believe they had that rate approved today. 

8-2-20217   Intel Guru Delta   ...we could see “out the door” more than one dollar...maybe 1.15 or 1.20...even up to 1.42 is possible...because of them adding inflation...so 1 to 1 would be the bare minimum we could see...and the other reason I think we will see it come out higher than 1 to 1 is that at that rate it is what the Iraqi citizens are used to seeing...a dollar...but anything higher will be very good for them...IMO I think we will see 1.13-1.20 after inflation is added to it.

8-2-2017   Newshound Guru Stryker   IMF Executive Board Completes Second Review of Iraq’s Stand-By Arrangement and the 2017 Article IV Consultation.

KTFA UPDATE, 2 AUGUST

KTFA:

DELTA:  OK FAMILY THERE IS THE LINK THAT I TALKED ABOUT. THE CBI DID ADD IT  IN ENGLISH TODAY......... WHEN YOU CLICK ON LINK YOU WILL SEE ..CURRENCY ISSUANCE EXPENSES FROM MAY 31ST, TO JUNE 30TH

CAN I HAVE A NEW RATE NOW!!! lol

 Financial Situation Tables for June 2017

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Boxman:   financial situation tables for june 2017

Has a line item labeled....CURRENCY REVALUATION INCOME FOR THE CURRENT YEAR...its a very large number..

Located in the comprehensive section of the table..in the post presented by Delta above

DELTA: Shhhhhhh (smile)

Mally:   Thank you Delta!  Isnt this listed in Dinar though?  A little over 5 million dinar spent on issuing new currency, not usd?

DELTA:  X1000 DINAR=5 BILLION DINAR=AROUND $5 MILLION FOR JUNE!!!

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Stranger:  DELTA Wrote:    TRUE RATE...... INTERNATIONAL!!!  

What is an International "True Rate"?  We've been hearing for a long time with consistency, what it would be when it went "International"....

Going back in time review these comments (June 1, 2016) about "TRUE RATE" ...I found one or two other references on CC's but only looked at about 3 months of CC's to find this....

IMO....."TRUE INTERNATIONAL RATE" is explained here with further comments describing it, in the same CC......(I think it is good to jog our memories...hope it is of value to some as prayerfully it seems to be written for this time NOW, even though it was studied and said a year ago)....

DELTA...
.they have to get these things done….one of them is the currency reform where they must come up with a true rate…and they have to accept Article 8….so this letter being submitted will be exactly the same as Iraq accepting Article 8…right….so by the end of the month of June then…the IMF board will look at all of what Iraq has said they have done….and one is the currency reform and the establishment of the true value of the Iraqi dinar
........
DELTA:  Absolutely Frankie….but I would like to add that even though it is showing 1 to 1 I believe it will come out even higher….because remember they have to add inflation into it…..so we could see “out the door” more than one dolloar….maybe 1.15 or 1.20….even up to 1.42 is possible….because of them adding inflation…..so 1 to 1 would be the bare minimum we could see….and the other reason I think we will see it come out higher than 1 to 1 is that at that rate it is what the Iraqi citizens are used to seeing….a dollar….but anything higher will be very good for them….IMO I think we will see 1.13-1.20 after inflation is added to it.
......
Frank:  You remember when we were talking to an unnamed person….I said IMO I see it as 1 to 1….logic says 1 to 1….Jack Lew’s homework says 1 to 1…..simple math says 1 to 1….and then they said to us it will be higher than 1 to 1….remember that.

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Jonlrv:  IMF description of today's meeting.

August 01, 2017

Country: Iraq

Title: Iraq - 2017 Article IV Consultation and Second Review Under the Stand-By Arrangement

I have copied the Article IV from the IMF official articles of agreement, it's regarding exchange rates. It's on page 5 of the link, it's easier to read there because it didn't paste with correct formatting. Sorry, I didn't have time to fix it. IMO, I feel like this is really positive.

http://www.imf.org/external/pu.....pdf/aa.pdf

"Article IV Obligations Regarding Exchange Arrangements Section 1. General obligations of members Recognizing that the essential purpose of the international monetary system is to provide a framework that facilitates the exchange of goods, services, and capital among countries, and that sustains sound economic growth, and that a principal objective is the continuing development of the orderly underlying conditions that are necessary for financial and economic stability, each member undertakes to collaborate with the Fund and other members to assure orderly exchange arrangements and to promote a stable system of exchange rates.
 In particular, each member shall: (i) endeavor to direct its economic and financial policies toward the objective of fostering orderly economic growth with reasonable price stability, with due regard to its circumstances; (ii) seek to promote stability by fostering orderly underlying economic and financial conditions and a monetary system that does not tend to produce erratic disruptions; Art. III, Sec. 4 Art. IV, Sec. 1 IV. Obligations Regarding Exchange Arrangements 6 (iii) avoid manipulating exchange rates or the international monetary system in order to prevent effective balance of payments adjustment or to gain an unfair competitive advantage over other members; and (iv) follow exchange policies compatible with the undertakings under this Section.

Section 2. General exchange arrangements (a) Each member shall notify the Fund, within thirty days after the date of the second amendment of this Agreement, of the exchange arrangements it intends to apply in fulfillment of its obligations under Section 1 of this Article, and shall notify the Fund promptly of any changes in its exchange arrangements.

(b) Under an international monetary system of the kind prevailing on January 1, 1976, exchange arrangements may include (i) the maintenance by a member of a value for its currency in terms of the special drawing right or another denominator, other than gold, selected by the member, or (ii) cooperative arrangements by which members maintain the value of their currencies in relation to the value of the currency or currencies of other members, or (iii) other exchange arrangements of a member’s choice.

(c) To accord with the development of the international monetary system, the Fund, by an eighty-five percent majority of the total voting power, may make provision for general exchange arrangements without limiting the right of members to have exchange arrangements of their choice consistent with the purposes of the Fund and the obligations under Section 1 of this Article.

Section 3. Surveillance over exchange arrangements (a) The Fund shall oversee the international monetary system in order to ensure its effective operation, and shall oversee the compliance of each member with its obligations under Section 1 of this Article. (b) In order to fulfill its functions under

(a) above, the Fund shall exercise firm surveillance over the exchange rate policies of members, and shall adopt specific principles for the guidance of all members with respect to those policies. Each member shall provide the Fund with the information necessary for such surveillance, and, when requested by Art. IV, Sec. 2–3 IV. Obligations Regarding Exchange Arrangements 7 the Fund, shall consult with it on the member’s exchange rate policies.

The principles adopted by the Fund shall be consistent with cooperative arrangements by which members maintain the value of their currencies in relation to the value of the currency or currencies of other members, as well as with other exchange arrangements of a member’s choice consistent with the purposes of the Fund and Section 1 of this Article. These principles shall respect the domestic social and political policies of members, and in applying these principles the Fund shall pay due regard to the circumstances of members.

Section 4. Par values The Fund may determine, by an eighty-five percent majority of the total voting power, that international economic conditions permit the introduction of a widespread system of exchange arrangements based on stable but adjustable par values.

The Fund shall make the determination on the basis of the underlying stability of the world economy, and for this purpose shall take into account price movements and rates of expansion in the economies of members.

The determination shall be made in light of the evolution of the international monetary system, with particular reference to sources of liquidity, and, in order to ensure the effective operation of a system of par values, to arrangements under which both members in surplus and members in deficit in their balances of payments take prompt, effective, and symmetrical action to achieve adjustment, as well as to arrangements for intervention and the treatment of imbalances. Upon making such determination, the Fund shall notify members that the provisions of Schedule C apply.

Section 5. Seprate currencies within a member’s territories (a) Action by a member with respect to its currency under this Article shall be deemed to apply to the separate currencies of all territories in respect of which the member has accepted this Agreement under Article XXXI, Section 2(g) unless the member declares that its action relates either to the metropolitan currency alone, or only to one or more specified separate currencies, or to the metropolitan currency and one or more specified separate currencies. (b) Action by the Fund under this Article shall be deemed to relate to all currencies of a member referred to in (a) above unless the Fund declares otherwise."

Hope this helps
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McDan:  IMF Executive Board Completes Second Review of Iraq’s Stand-By Arrangement and the 2017 Article IV Consultation

August 1, 2017

The authorities are appropriately maintaining the peg of the Iraqi dinar to the U.S. dollar, which provides a key anchor to the economy.

Measures to prevent money-laundering, counter the financing of terrorism, and strengthen the anti-corruption legislation need to be implemented.

The authorities are implementing a sizable fiscal adjustment, mostly through retrenchment of inefficient capital expenditure while protecting social spending.

The Executive Board of the International Monetary Fund (IMF) today completed the second review of Iraq’s three-year Stand-By Arrangement (SBA), which is designed to support Iraq’s economic reform program and restore fiscal balance over the medium term.

The completion of the second review allows the authorities to draw the equivalent of SDR 584.2 million (about US$ 824.8 million), bringing total disbursements to SDR 1494.2 million about US$ 2109.7 million. The SDR 3.831 billion arrangement (about US$5.34 billion at the time of approval of the arrangement) was approved in July, 2016 (See Press Release No. 16/321) and the first review was completed on December 5, 2016 ( See Press Release No. 16/540).

As part of the completion of the second review, the Board also approved Iraq’s request for waivers of non-observance and applicability of performance criteria, and modification of performance criteria. Further fiscal consolidation was achieved in 2016, but at a slower pace than programmed because of weak control of investment expenditure and humanitarian needs. To move the program forward, the authorities are implementing strong corrective measures as prior actions and are committed to further fiscal measures in 2018 to ensure external and debt sustainability.

The Executive Board today also concluded the 2017 Article IV Consultation with Iraq. A respective press release will be issued separately.

Following the Executive Board’s decision, Mr David Lipton, First Deputy Managing Director, issued the following statement:

The economic policies implemented by the Iraqi authorities to deal with the shocks facing Iraq—the armed conflict with ISIS and the ensuing humanitarian crisis and the collapse in oil prices—are appropriate. In the fiscal area, the authorities are implementing a sizable fiscal adjustment, mostly through retrenchment of inefficient capital expenditure while protecting social spending. The authorities are appropriately maintaining the peg of the Iraqi dinar to the U.S. dollar, which provides a key anchor to the economy. Performance under the Stand-By Arrangement has been weak in some key areas, but understandings have been reached on sufficient corrective actions to keep the program on track. Resolute implementation of the authorities’ program, together with strong international financial support, will be key.

Further fiscal consolidation measures are needed in 2017-18 to keep the program on track. The composition of the fiscal adjustment should be improved over time by increasing non-oil revenue and reducing current expenditure. In addition, reforming the electricity sector and state-owned enterprises will make room for larger and more effective investment expenditure that supports growth and job creation.

Significantly improving public financial management will be important. Arrears need to be assessed and paid following verification, and expenditure commitment and cash management should be strengthened to prevent the accumulation of new arrears.
Measures to bolster financial sector stability include strengthening the legal framework of the Central Bank of Iraq, restructuring state-owned banks, and eliminating an exchange restriction and a multi-currency practice. Measures to prevent money-laundering, counter the financing of terrorism, and strengthen the anti-corruption legislation also need to be implemented.

Implementation of the budget-sharing agreement with the Kurdistan Regional Government would put both the federal government and the Kurdistan Regional Government in a better position to address the shocks to the Iraqi economy.

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MilitiaMan:  They must have a rate and chapter VII lifted, or am I missing something for them to get the $840 million? A separate press release will be forthcoming? lol Go figure..
Boxman:  i always wondered what would be the signal that we were at the end...possibly this article may be the signal...so much meaty material..

 Doc.K:  ........WITHIN  30 DAYS  .......
.
.Article 4   Section 2. General exchange arrangements (a) Each member shall notify the Fund, within thirty (30) days after the date of the second amendment of this Agreementof the exchange arrangements it intends to apply in fulfillment of its obligations under Section 1 of this Article, and shall  notify the Fund promptly of any changes in its exchange arrangements

http://www.imf.org/en/News/Articles/2017/08/01/pr17311-imf-executive-board-completes-second-review-of-iraq-sba-and-the-2017-article-iv-consultation?cid=em-COM-123-35710

Dinar Updates w/BGG & Others

DINAR IRAQ & DONG VIETNAM UPDATE, 2 AUGUST

60 Countries Promise Support in Rebuilding Iraq
Some 60 countries have expressed their readiness to support the efforts in reconstructing the Iraqi areas damaged in the war against the Islamic State (IS).
Mustafa Hiti, who supervises the state-run fund for reconstructing the damaged areas by war against terror, said so far the fund has been able to obtain the consent of 60 countries to help in rebuilding the damaged areas.

He added Kuwait has also agreed to host an international conference for the countries who have agreed to donate and offer help in reconstructing the war-torn areas of Iraq.
The fund has also received an invitation from the World Bank for arranging an open discussion in the Washington DC over rebuilding Iraq after the IS.
Iraqi government estimates suggest that the war against the IS has resulted in damage to 90 percent of areas in Anbar province.
The estimates also indicate 60 percent of territories in Nineveh province and 50 percent of areas in Salahddin province have also been razed in the battle to oust the Islamic extremists. Source
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Barzani and UN Envoy to Iraq Discuss Erbil-Baghdad Relations Kurdistan Region President received on Wednesday the UN Special Representative of the Secretary General (SRSG) for Iraq, Jan Kubis, to discuss the latest political and security developments in the Kurdistan Region and Iraq. The current level of political relations between Erbil and Baghdad was discussed between Barzani and Kubis, according to a press release by the president’s office. Kubis also briefed Barzani about the latest report his office has handed to the United Nations Security Council on the security situation and humanitarian hardship in Iraq.
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Iraq studies oil swap for reconstruction 1st August, 2017 Iraq’s oil and energy committee unveiled a proposal to swap oil for the reconstruction of terrorism-hit areas with major powers, notably the United States, “Iraq is considering resorting to barter in the reconstruction of liberated areas and will be according to the prices of Iraqi crude oil, and this is done by most of the countries of the world,” MP Tareq Siddiq told the Journal News. “The financial crisis due to terrorism and low oil prices have prompted the Iraqi government to study this proposal for the reconstruction of areas affected by terrorism,” he said. The Committee on Services and Reconstruction parliamentary considered the resort to Iraq to barter “stealing the money of Iraq” by the major powers, including America. “Iraq today has experts and scientists in the field of oil, it is not possible for the United States to steal Iraq’s money,” said Tawfiq al-Kaabi, a member of the committee. He added that it is hoped to hold a global conference in Iraq for the purpose of discussing mechanisms for the reconstruction of Iraq, stressing that “these ages come through the price and this price is oil, which has no other Iraq.” “The United States is trying to acquire Iraq’s financial and oil capabilities by confronting the reconstruction campaigns of the liberated areas,” he said. “Hundreds of contracts have been discovered between the Iraqi government and the Washington administration, which hopefully will be implemented soon.

MNT GOAT UPDATE, 2 AUGUST

August 2, 2017 Mnt Goat News Brief

Hi Everyone,

I bring you much news today.   

The news from Iraq just keeps pouring in.  I can honestly write an entire book. Seriously I do try to keep my newsletters as short as possible, pertinent and relevant to the FACTS and dealing with the RV saga only, as much as possible. However, it is sometimes very hard because the pieces to this puzzle are all interconnected with other pieces that seem to have no impact but really do. These are often overlooked issues. So one piece effects the others. How do I tie it all together for you? It is hard, but I will try.

I want everyone not to assume that I am still not optimistic about a significant revaluation of the Iraqi dinar coming soon. I can see all the signs that they will bring back the IQD to its “former glory” soon. It will not take years and I am still looking for it sometime this year. But you have to remember that their economy can only take so much growth and then something must happen or simply put - who would want to come into Iraq to invest if they can’t grow their money?
​Lots of talk now from many of these so called intel “gurus” that the lower denominations are launched. I have not heard anything such thing. I know that the newer notes have been printed and delivered to Iraq already. There is a mixed batch of KRG issued formats and non-KRG formats. Years ago they told us they wanted to print these KRG formats but would hold off until after 2013. Well its 2017 and they are now completed by the German run printing company. Now that electricity is running 24/7 they want to put the ATM machines online too but can’t since they are setup only for these newer notes. Remember these machines? We heard about the acquisition of these new machines way back in 2011. Yes, they have been sitting in warehouses and some installed in the market places but none used. It is almost time!

So we heard about the second audit review Iraq had with the IMF yesterday 8/1. What were the results? No – this meeting was not all about the RV and approving the new rate…lol…lol…I am sure they talked about this event but trust me it was not about "pulling the trigger" this week. But here is what it was about,

Many say that even if the meeting was all about the RV they wouldn't tell us anyway and make it so open and public. Really? I believe just the opposite. Why? The CBI is not hiding this event folks. They have no reason to hide it. They are very proud to bring back their currency to its former glory. The CBI also told the public in Iraq many times they will educate them along the way. I presented these articles to you in the past. We expect it to  happen again, when the time is ready. The reason we have not yet seen this is that they are NOT YET READY. 

The Central Bank of Iraq in a statement received, Alsumaria News,  "The International Monetary Fund congratulated the Central Bank and the Ministry of Finance and the Prime Minister on the success of the second audit consultations and the Convention on credit readiness after the implementation of programs and financial and monetary targets and placed in a framework that provides financial stability for Iraq and face Financial and security challenges ". This review will pave the third revision , which will begin in the month of September next action. Remember the IMF is not obligated to pay Iraq another installment on the SBA loan if they do not implement the needed reforms and make progress as agreed in their MOU dated all the way back to 2015. 

Articles are below. As always my comments are in italic RED.

Articles Begin

Iraq .. 60 countries will participate in the reconstruction of the affected areas

Baghdad Mawazine News

The head of the fund for the reconstruction of the areas affected by terrorism Mustafa al-Hiti, was able to obtain real promises from 60 countries to participate in the reconstruction campaign.

"Kuwait is ready to host the donor conference on its soil after bilateral talks," he said in an interview with Kuwait's Al-Sabah newspaper. "The conference comes after the victories of the security forces. A Kuwaiti delegation will visit Iraq soon for Mosul to see the extent of the destruction. Ahmed in this city. "

"The IMF responded to an invitation from the World Bank to discuss the reconstruction of the areas affected by terrorism in Washington, DC on the tenth of this month, in the presence of nearly 35 countries," he said, adding that "the Fund is close to completing the first loan of the bank, Very few pay after 15 years, and there was a challenge to convince the international community to increase the loan amount through the presentation of the direct work done by the Fund  in the last phase with the first loan, which amounted to 152 projects and coordination between the government departments and the donor and the mechanism of action, Million, to include n After its liberation from the clutches of terrorism, after the first loan was allocated to the provinces of Salah al-Din and Diyala, in addition to raising the slogan "International Coalition for the reconstruction of Iraq." (In other words they are saying they have to prove the money is being spent on reconstruction by showing the work being done. In the past almost all of the reconstruction funds were waisted and stolen by corruption)

He pointed out that "the fund is able to manage the money and supervision of it, has now reached about one billion and 200 million dollars, after adding the amount of the government budget," stressing that "the readiness of about 60 countries for the reconstruction of Iraq, depending on the type of participation, whether money or the entry of companies and others."
​Evidence of war .. Another door to introduce hard currency revenues to the federal budget

The figures on the losses caused by the war against the terrorist organization, according to estimates of international and local organizations, waiting for the liberated cities and reconstruction and make it archaeological and historical evidence of other revenues to the budget of the federal state.

According to a member of the Committee on Economy and Investment Representative Jamila al-Obeidi, "The figures estimated losses of liberated areas. It is not accurate that there are areas that have not yet been liberated, such as Tal Afar and the mined areas by an encouraging organization. " 

"Most of the losses on the right coast of Mosul are about 70-75 percent, according to international organizations," al-Obeidi said. "Mosul airport disappeared completely from the hospitals, the textile factory and the infrastructure in the old city." She added, 

That the money collected for reconstruction may go into the pockets of corrupt, suggesting that any state that gives money to a particular sector, such as the school sector itself oversees the reconstruction of the sector in cooperation with the ministries responsible. " Obeidi noted that" there is a possibility to make some areas in Mosul, what happened, such as the museums that document this dark era and the victories of the Iraqi army, and thus be attractive to tourists and domestic and foreign intervention of a difficult currency for the federal budget. " 

For his part, the expert on economic affairs in the name of Jamil Antoine that" the national economy in recent years built on the wrong foundations and must Restructuring, whether it is the industrial or agricultural sectors or services, rather than relying on a single sector, which is the oil sector. " 


Antoine also adds in a statement to (range), that" The sustainable development of the largest number of labor force and the reduction of unemployment rates, which reduces the proportion of those who fall below the poverty line, stressing the need to move to revitalize the tourism sector, as we have the possibility of tourism in many aspects, including religious tourism and archeology and tourism, which creates many opportunities for the unemployed Work "and shows that" the re-liberation of Mosul must be in accordance with the strategy and plans correct, so as to control the financial waste of funds to be disbursed by donor countries and work on the formation of a professional committee away from politicians and trends, that the Committee to assess the destruction in the city within the tables A fee for the infrastructure and not to rely on inaccurate figures.

" Antoine suggested that" The implementation of the Marshall Plan that reconstructed and rehabilitated Europe after the war, pointing out that the right side in Mosul can not rebuild the infrastructure because most of the old residential role was built almost 100 years ago, suggesting that the adoption of new residential complexes on the remains of destroyed areas witness archaeological.

On the one who came to Iraq from the thought of the devolution and was eliminated by the courage of the sons of the homeland, and thus be a new museum to enter the revenues of the federal budget. " Antoine believes that" the laws should be enacted and implemented, not written on paper and not be implemented (YES-this seems to be a huge problem in Iraq. Laws are not good unless implemented and enforced) because of some parties and influential blocs in the government and activating the culture of investment and attracting foreign investor. " Member of the Committee on Economy and Investment Parliamentary Abdul Salam al-Maliki, demanding in a press statement obtained (range) a copy of it, the Iraqi government to accelerate the activation of the new investment law.  

( I did not present the rest of the article. It was not really important to us and this RV saga. You can go online and read the rest)
​Parliament: The law "National Oil" will be ready to vote soon

Direct said Chairman of the Oil and Energy Parliamentary Iraq, said that the National Oil Company Law will be ready to vote in the weeks or the next few months, citing the Iraqi News Agency. ( Just like you reading this today I don’t like the part about maybe taking a few MONTHS, but this is the truth, factual news and so they are telling us. So no rumors it is not already done.  Remember parliament was holding back on the final vote of the updated HCL sitting there now for over a year.)

Ares Abdullah explained that the first reading of the law has been completed and is currently being discussed. 

According to the law, "Ares" that includes the separation of the National Oil Company from the Iraqi Ministry of Oil, so that directly linked to the Prime Minister of the State. 

The company will manage oil operations in Iraq only now, which will include development, exploration, exploration, extraction and production, except marketing, which will remain linked to the company "Sumo," according to the agency.  (So this National Oil law is NOT the HCL but it may be in part holding back the final vote of the HCL changes, now sitting in parliament)

He continued: "We will meet with the Kurdistan government during the next week; to reach a formula for agreement on the draft law, and we expect to pass it after." (let’s hope it’s just weeks not months)

Azir pointed to the viability of the law within the House of Representatives of all political blocs, according to the agency. 

He was a member of the Committee on oil and energy parliamentary Iraqi noted on July 20 that the current version of the law of the National Oil Company does not represent the ambitions of the oil industry in Iraq. 

The text of the law includes 9 items, the most prominent of which is to allow the company to invest in all oil and gas fields for all of Iraq's territory and territorial waters. It also has the right to borrow from inside Iraq or abroad to finance its investments.


The Ministry of Justice is implementing the electronic payment project for the salaries of its employees

(Implementing yet another ministry, as the CBI moves to get each ministry electronic. Is this also needed prior to RV – to get each ministry rolled out? Just asking. By the way just so you know. The electronic banking is all part of the process to delete the zeros. So they are moving forward with the process slowly.)

The Ministry of Justice started implementing the electronic payment project by adopting a MasterCard card for the distribution of the salaries of the ministry's employees through the documentation of specialized banking teams for their personal information and official documents. 

The ministry said that the electronic payment project aims to distribute the salaries of the ministry's employees and all its departments using the electronic card, pointing out that a special committee of the ministry  was formed to work for the project and under the supervision of the Judicial Planning Department, in implementation of the Council of Ministers Decision No. 313 of 2016. 

The ministry said that it contracted with the Development Bank Which will oversee the distribution of salaries of employees in the form of (forward payment), indicating that the committee working in the project will open financial accounts for the staff of the Center of the Ministry in coordination with the work team of the bank in question to facilitate the To pay their salaries and exceed the traditional method of receiving from banks
Central Bank: Our financial situation is good for four years to come even if oil prices do not recover

The central bank explained that the reserve of gold that it has, is part of the cover of the national currency, and its function is not the transition time hard to dollars to strengthen the budget as some believe, and stressed by saying, it is not practical to liquidate that reserve and convert it to the dollar in front of any financial problem passes.

Said that even if Iraq does not recover oil prices, its financial position will be good for four years to come. An economist confirmed that the central bank has good reserves and does not raise the burden of deductions from the citizen, as some believe, indicating that the reserve is used to finance imports. Not for domestic spending. This is the case in all countries of the world. 

The director of treasury and issuance, Ihsan Shamran in an interview with (the extent), Iraq is not the fifth country in the reserves of gold, sending: And the central bank built the reserve of gold, which he now has up to 89 tons of gold as part of the cover of the national currency, and his job is not to turn at the time of hardness to a dollar to strengthen the state treasury or budget, adding: So that this source is supported by the dollar and gold as well as the rest of the bonds and others, and here may actually liquidate this reserve any transfer to liquid funds from the dollar in front of any difficult problem in the country, especially as his job to support the Iraqi currency and make it a very strong currency, Thanks to a cash reserve from States T another gold. 

"This is also a reserve for international financial organizations in a good position as well. Iraq is known and calculated now what is its financial and economic situation. Even the financial problem is now an emergency and it will be overcome and the Iraqi economy will recover. At a safe level, and Iraq in the next four years and with bad oil prices will be an excellent financial situation, but if oil prices recover, the central bank will return to build even more reserves of the dollar. The veteran economist Ahmed Barihi, in an interview with (the extent), that Iraq does not need to turn the reserve of gold into a difficult currency, it has enough foreign exchange reserves, and there is a good amount of them now in the Central Bank, and that Iraq does not need to turn to the use of gold, he said: On the other hand, the existence of reserves of the Central Bank is good does not raise the burden of deductions from the citizen as some believe, because this reserve is used to finance imports and not for domestic spending, continuing: Usually the reserves of the Central Bank of Iraq and in all countries of the world, used for external payments and not payments "The citizen should know that foreign currency is used for foreign payments and not for citizens, and the latter must know that, because the newspapers and economists are deceived this fact in the minds of people until there is confusion between the reserves of the central bank and the budget It is a big mistake, at a time when it was necessary to focus on the currency used for payments and in all countries of the world, and have no other job, and here the budget is a revenue and expenses and the Central Bank of another institution. 

Breihi had earlier pointed out that while we are ranked fifth in the global gold reserve, it is useful, especially since gold reserves can be converted into anything else, and the central bank can at any moment convert them into Foreign currency and used in international transactions or reinvested in the international market, which is certainly a good treasure because gold from the means of conservation of value and central can convert this gold, which has a foreign currency and uses this currency for the purposes he wants either to finance foreign trade or to put the amount in the financial market International And to pay off debts. 
The Central Bank of Iraq announced on 16-7-2017 that the bank's gold reserves are 90 tons and it occupies a high international ranking. The total gold reserves in the bank is 90 tons, thus it occupies the 37th position globally and the seventh in the Arab world.

The Central Bank of Iraq gold in 2012 was only 30 tons, but it has reached three times now, at a time when the World Gold Council announced the rise of the world's reserves of gold in the month of February, noting that Iraq has maintained the fifth rank of Arab reserves. 
The governor of the Central Bank Ali Alalak, announced on 11/5-2017, the increase in foreign exchange reserves of foreign currency than in 2016, stressing the rise to 49 billion dollars.

Reuters: Iraqi general sees easy victory over exhausted IS fighters in Tal Afar
(Just so you know, I am not presenting this article because I believe that once ISIS is gone from Tal Afar or from Iraq in general, that the CBI will automatically trigger some RV. I did not believe that once Mosul was liberated it would RV. I kept telling everyone there is much more to do prior to getting to the level of SECURITY needed. Let’s also think about the needed STABILITY which is getting the new Iraqi constitution “fully” implemented. No – Mnt Goat is not making a 180 degree change of mind. This has been my stand all along. Go back and re-read my past newsletters. It all there. (Link to Mnt Goat ARCHIVES)

We just have to wait and watch the saga play out and hope that nothing HUGE happens along the way to disturb the process. We also see the 2018 elections coming up in the horizon and once again we have to be cautious that they RV prior to this timeframe. It could be scary time again of not. Still no news from the CBI on the Project to Delete the Zeros.)

(7/31/17)
Reporting by Isabel Coles

MOSUL, Iraq (Reuters) - A senior Iraqi general predicted a relatively easy victory for his forces in the upcoming battle for the Islamic State haven of Tal Afar as up 2,000 fighters and their families there are "worn out and demoralized". 

Less than one month after declaring victory in the city of Mosul, Iraqi forces are poised to attack Tal Afar, which is around 40 km to the west of Mosul, in what will be the next major battle against the militants. (This article is telling us this last battle has not yet started. Get it? NOT STARTED! So how can it be all done as many of these so called intel l”gurus” are telling you. But the important news is this – could this also be the hold up in the CBI moving forward with the next phase of the currency reform?)

"I don't expect it will be a fierce battle even though the enemy is surrounded," Major-General Najm al-Jabouri told Reuters in an interview. 
Jabouri, a key battlefield commander, said the fight would be simple compared to the nine months of grueling urban combat in Mosul, which took a heavy toll on Iraqi forces.

"The enemy is very worn out," said Jabouri, who was mayor of Tal Afar when it was overrun by insurgents more than a decade ago. "I know from the intelligence reports that their morale is low," the general added. 

 (skipped a part of the article. It was just a summary of what we already know)

Jabouri said all that remained was to receive orders from Iraqi Prime Minister Haidar al-Abadi to launch the assault: "perhaps it will be in days, or a week, or two". (So we have to wait again while they prepare)

Beyond Tal Afar, Islamic State still controls other pockets of territory in Iraq, including the town of Hawija and the surrounding area. (so there is more than just Tal Afar to liberate. We may have to wait months!)

(skipped more of the article. It was just a summary of what we already know)
Kuwait aims to raise $ 20 billion in preparation for a donor conference for the reconstruction of liberated areas

01-08-2017 10:19 PMThe Euphrates –

The Kuwaiti government on Tuesday announced the start of extensive contacts in order to prepare for hosting the conference for the reconstruction of Iraqi areas liberated from the control of the organization ‘Da’ash’ terrorist, while sources in the Office of Prime Minister, Haider Abadi, that the hopes of the Conference to collect at least $ 20 billion of Donor countries that will participate in the conference likely to be held in the coming months, which will restore the minimum services to cities liberated such as water and electricity and rehabilitation of hospitals and part of the destroyed schools.

Kuwaiti Foreign Minister Khaled al-Jarallah told reporters today that he was preparing to host a donor conference for the reconstruction of liberated areas from the hands of a preacher in Iraq, No date has been set for the conference, but it is likely to be in the first quarter of next year.

For his part, said a senior Iraqi official in the office of Haider Abadi, the government seeks to urge the brothers in Kuwait to urgently convene the conference as soon as possible, because of the disruption of the return of about two million Iraqis to their cities, being destroyed and in need of services, and the government is unable to address something or reconstruction of something . Adding that it is hoped that the collection of about 20 billion dollars during the conference, which is sufficient for the minimum cities liberated such as reconstruction of water and electricity stations and bridges and the rehabilitation of hospitals and a part of schools, as the estimated value of losses of these cities about $ 100 billion to return to what it was.

The source pointed out that the participation of some 40 Arab and foreign countries in the conference will be participation in political dimensions including an international position against terrorism. He stressed that the most prominent countries that have so far been confirmed are America, Britain, France, Italy, Germany, Sweden, Austria, Holland, Canada, Australia, Japan, China and Venezuela. , As well as Qatar, Saudi Arabia and the UAE. Turkey will also  participate, and Iran has not yet decided whether or not to participate.

Local reports estimate the total losses incurred by cities in the west and north of Iraq at more than $ 100 billion, including the infrastructure of these cities, such as road networks, bridges, dams, power stations, water and sanitation, communications, hospitals, schools, institutes, universities, agricultural and animal sectors, Destruction by terrorist operations and aerial bombardment of the International Coalition during the battles directed by the organization ‘Daash’ of the cities.

The cities of Fallujah, Mosul, Ramadi, Tikrit, Hawija, Hartbeh, Hit, Jorf al-Sakhr and Baiji are the largest cities in terms of damage, some of which reach about 80%.

However, the Iraqi prime minister estimated the losses at about $ 40 billion without counting the losses of the material citizens, where the estimated number of destroyed housing units (homes and apartments) by more than a quarter of a million units between full destruction and partial or burning.

The Iraqi government finds it very difficult to pay the salaries of its employees at the present time, which makes the possibility of reconstruction of these cities and return to the population of about 7 million people, at the expense of the government is impossible.

Articles End


Their words not mine…..No Rumors, No Hype, Just the FACTS!

Auf Wiedersehen
Much love to ya all,
Mnt Goat

TNT UPDATE, 2 AUGUST

Airam:  After reading the PDF OF THE SBA .......you can see that Iraq followed the instructions given by the IMF ......Today the IMF agreed that Iraq has been compliant ......IMO enough for the release of the funds and at the same time the RV ......in what other way can Iraq repay that huge loan.......just my opinion  Link

Airam:  IMF is the one in charge.....follow the IMF and we will see the RV

Skipper2: Airam, you are correct. It has always been the IMF way to loan huge amounts to counties coming out of war... then the ReValuation takes place - so they can service the note

Denhel:  Funding for Iraq will be pulled if there are too many delays.We know contractors waiting to get started but they cannot wait for ever, they have to find work else where..

Skipper2:  Mobilization cost more than waiting...
....
*************

RVAlready:  I don't think that meeting was about the RV. It was only the current status meeting. But they got a clean bill of health, as far as I can see.

So, next step, RV. As I said, they cannot tip their hand, and talk about the RV publicly. Silence does not imply negative motion.They do not need another review to RV. They can RV whenever they want.

But you will not see it coming. They could be in a closed door meeting to RV right now. Even if you found out about that meeting, they would deny it.

Same as Kuwait. If they do it right, it will hit you like a baseball bat to the back of the head. Just boom!

Read my lips: There is no delay. They are going as fast as they can.You just cannot see what is happening behind closed doors, and you never will.

I wish it could be done transparently, but it would wreck the markets to do so. It is a bit like a stock split. Nobody should know until it happens.
  
It took Kuwait a while to get it done, all the time denying that it was happening.
  
 

NEWS: Central Bank of Iraq, for the adoption of new mechanisms to facilitate procedures in using foreign currency, 2 AUGUST

Recent instructions issued by the Central Bank of Iraq, for the adoption of new mechanisms to facilitate procedures in using foreign currency to cover imports and emphasize the last beneficiary identification with a view to maintaining Iraq funds from misuse as Central Bank Governor on improved relations, during a meeting with Bank leaders: "the keeper will depend in 2017 new visions for monetary policy applications for the purpose of achieving specific objectives in its 56 year 2004 mainly maintain the dinar and foreign currency-covered value, by building Foreign cash reserve in accordance with the criteria.
Calculate international external cash reserve to cover the dinar and cover imports into Iraq; "and the other main objective is to maintain the foreign currency used for non-economic and developmental purposes.So the Central Bank during the past two years with deliberate steps and sequenced and coordinated with the Government agencies concerned, while maintaining his independence contained in its law, where procedural and organizational policy and structural and issued his strategy for the years (2016 2020) and select their targets to achieve financial stability and banking development
Technically and structurally and organizationally towards financial inclusion, where the 2016 year of preparation and appropriate financial and technical foundations for the reality of the Iraqi economy banking mechanisms form a solid base led to the transfer of the Iraqi economy basic workshops, notably the financial sector, from proceeding to grey phase based on the ILO report.


All that led to a new stage begins, the year 2017 based cornerstones from which new mechanisms dealing with banks lifted the former radical and given instructions pressure elasticities and numerous facilities and Tolerancing to achieve the central objectives in economic and banking reform based on transparency and disclosure.


The other pillar is dealing with banks based on that of new banking products and services of high level and restore public confidence in the banking sector, as well as the results of their work and their commitment to the implementation of the Central Bank's monetary policy orientations and flip it. 
The actual contribution to a gross domestic product and its contribution to sustainable development and its role in development banking role; 


Besides dealing with banks as standard rated central supports.



Samir Al Nassiri
July 28, 2017

CHATTELS UPDATE, 2 AUGUST

Restoration of law and order/removal of DAESH,Reconstruction/ Reconciliation. Sovereign integrity, security and stability. Reconstruction is an opportunity for reconciliation. Without Reconciliation Iraq will fail as a state.   From everything I read and consider important to our liquidity event it will be 2018 at the earliest, but there may be some macroeconomic deus ex machina unintelligible to me.

KTFA: "PROMISE THEM TO RECEIVE THEIR SALARIES SOON", 2 AUGUST

KTFA:

Note: The KTFA Sites appears to be having server issues this morning....hopefully if will be fixed soon.

JesusLovesBaseball:  "Promise them to receive their salaries soon"

Education announces the safety of the position of 2699 associates in Nineveh, Salah al-Din and Kirkuk and the release of their salaries

The Ministry of Education announced on Tuesday the safety of the position of 2699 associates in Nineveh , Salah al-Din and Kirkuk and the release of their salaries. In a statement received by Alsumaria News 

, Minister of Education Mohammad Iqbal Omar al- Sidli said that "the National Security Advisor has verified the safety of the position of (2487) of the employees of Nineveh, 205 of the members of the Salahuddin education and 7 of the members of Kirkuk's direct education In the month (5) for the current year. " 

He added that "the release of their salaries will be soon," stressing his follow-up "this file personally until the completion of all names, and secure the payment of salaries even on public holidays." 

The Ministry of Education announces from time to time the safety of the security situation for a number of its employees in the province of Nineveh and promise them to receive their salaries soon.

http://www.alsumaria.tv/news/211652

Iobey777:  They are releasing the pay! Now...time to let the rate out of the gate!!

************

JesusLovesBaseball:  IMF Approves Disbursement of $825Mln to Iraq
 
The IMF said that its executive board has approved the disbursement of $824.8 million to Iraq upon completing the second review of the country’s stand-by arrangement.
 
WASHINGTON (Sputnik) — The executive board of the International Monetary Fund (IMF) has approved the disbursement of $824.8 million to Iraq upon completing the second review of the country’s stand-by arrangement, the IMF said in a release on Tuesday.

"The completion of the second review allows the authorities to draw the equivalent of SDR 584.2 million (about US$ 824.8 million), bringing total disbursements to SDR 1494.2 million about US$ 2109.7 million," the release stated.

The Fund highlighted the need for Iraq to implement measures to counter money-laundering, terrorism financing, and enhance anti-corruption laws.

In July 2016, the IMF approved $5.34 billion arrangement for Iraq, which aims to assist Iraq with economic reforms and restore fiscal balance.

https://sputniknews.com/business/201708021056093800-imf-approves-millions-iraq/

IQD CHAT HIGHLIGHTS, 2 AUGUST

Chat Room News Excerpts & Highlights Late Tuesday PM 8-01-17

chattels: The Iraqi federal budget is estimated at more than 68 billion U.S dollars (79 trillion Iraqi dinars) with the total budget deficit of 21 billion U.S dollars. Point to be noted that the oil price was selected at 42 U.S dollars per barrel. http://www.iraqinews.us/iraqi-federal-budget-2017-approved/

chattels: The original 2017 budget was approved in December, worth 78 trillion dinars, with a projected deficit worth 30 trillion dinars. The parliament approved the revised version last Monday with a seven trillion dinar increase, with a projected deficit of 25 trillion dinars.

http://www.iraqinews.com/features/ministry-budget-amendments-cancelled-financial-assistance-refugees/
​Cree: @chattels Trillion with a "T"

chattels: @Cree Yes, which is billions on U.S. dollars

chattels: @Cree on = in

Cree: @chattels Are you talking about potential events leading to an RV or a nucleus to wipe out countries...

dave: 21 billion usd equals about 25 trillion dinar

noname: I br ought a artical in today the CBI governor talking a out the budget deficit and could not attract investors.

noname: I br ought a artical in today the CBI governor talking a out the budget deficit and could not attract investors.

Cree: @chattels Before we wipe out China, can we save some of their restaurants? Their Chinese food is better then our Chinese food.....

noname: About

chattels: @Cree Not understanding your question(s).

Cree: @chattels This sounds more real then most other stuff we hear.....

Cree: @chattels Are we talking about the potential RV or I saw some threads about nuclear war. I'm confused....

chattels: @Cree I was simply posting budget info since that seemed to be the topic in the chat room.

Cree: @chattels ok....

noname: We were discussing a reported IMF loan of 825 billion

chattels: @Cree I just came in / on.

noname: Need a artical

Cree: @chattels so is there anything here to be excited about? I usually do not get excited as we know.....

Cree: @chattels so did I

Cree: @chattels I know you know all these issues so that is why I was asking....

dave: its Tuesday Cree...plenty to excited about when tomorrow is Wednesday

noname: @dave humpday

chattels: @Cree It is hard for me to imagine how a loan(s) make for an attractive environment to " RV ".

chattels: @Cree Loans are made to stabilize / maintain solvency for economies.

chattels: @Cree I think we want stability created / maintained by Iraq without foreign lending.

dave: Agree chattel ...But Iraq has reserves where most other countries have huge deficits

Tebow: it's article

noname: @chattels 825 billion should put them on there feet. A loan is needed for several reasons. Build Credit. Score stiliblity

chattels: @dave Iraq owes more than they have in foreign currency reserves.

dave: Paris debt???
​chattels: Iraq’s foreign reserves down to US$49 bn http://www.iraqinews.com/business-iraqi-dinar/iraqs-foreign-reserves-us49-bn/

ElmerFudd: Hey guys do we have any more info on prices dropping in Iraq?

noname: The CBI governor said a few weeks ago he could cover what dinar was out 3 times

dave: another 5 billion in gold

chattels: Iraq’s foreign, domestic debts exceed US$100 bn

http://www.iraqinews.com/business-iraqi-dinar/iraqs-foreign-domestic-debts-exceed-us100-bn/

noname: It's called re-finance.

chattels: @noname I do not believe him / it.

dave: What of the Paris accord ....loan forgiveness.......after looking for weapons of masss dertuction

dave: destuction

noname: @chattels I do

ElmerFudd: Hey guys do we have any more info on prices dropping in Iraq?

noname: @ElmerFudd I dont

chattels: @noname I am glad of your confidence.

noname: @chattels why would he like to the world

dave: was at 50.00 last night...more for brent crude

Cree: Well I always seem to have a comment, but on this conversation I do not.... hmmmmmm

noname: @chattels lie

chattels: @noname The same reason that people lie on loan applications.

noname: @chattels we agree to disagree.

chattels: @noname I am not being argumentative. I am just responding to questions.

noname: @chattels 49 billion equals what 16 + trillion dinar. I believe him

chattels: @noname I am genuine pleased for you that you are confident about the solvency of Iraq. I wish that I could be.

noname: @chattels I enjoy your take on iraq

chattels: @noname Where is the room for an increase in value given your numbers ?

Cree: Well heading out for dinner to digest all. BBL

noname: @chattels oil gold 90 tons and minerals to start with

chattels: @noname Is it reasonable to think that the marketplace will accept payment of pre RV debt at a post RV value ?

chattels: @Cree bye

noname: @chattels in the use our dinars will go the our treasury for oil credits. Iraq will pay with oil. That is my belief.

noname: @chattels usa

chattels: An imperial short ton of gold would is worth: $29,916,160 (USD) x's 90 is ........................
​chattels: About 2.5 billion dollars ?
chattels: Chicken feed if my calculations are correct.

chattels: The cost of rebuilding Mosul is estimated to exceed 100 billion dollars.
chattels: Jubourri stated today that Iraq cannot do it.

noname: @chattels not at 1184.000

chattels: Jubouri: The destruction of liberated cities is too large and exceeds the capacity of Iraq

http://www.alliraqnews.com/modules/news/index.php?start=15&limit=15&storytopic=41

Tebow: it will take years to rebuild

chattels: @noname Why would the world value the dinar at more than the current rate ?

noname: @chattels in 1941 Iraq signed a treaty and the IQD was 2.80. Why was it worth so much then? And not now.

noname: @chattels look up the history of the IQD

chattels: @noname I suspect that a few things may have changed since 1941, but honestly I do not know.

chattels: @noname I can assure that I am fairly well read on the subject.

noname: @chattels war torn yes. But more resources
noname: @chattels I'm sure you are

chattels: @noname I have a lot of dinar. I just don't know that it is going to be very valuable in the near(er) term.

chattels: @noname I am not selling, but I am not buying either.
chattels: @noname It may be my children or grandchildren who benefit from all of this.

noname: @chattels later. Time to watch the 5

chattels: @noname I promise to celebrate with if I am wrong and I will sing your praises to high heaven :)

tman23: Iraq has a little over 3 billion in gold....... England has 315 billion in gold....... Saudis reported in 2015 over 770 billion in currency reserves.......

Iraq isn't even on the radar when comparisons are being made SO the next best thing is to call it the cradle of life....(oh the irony in that statement eh?)......

And then pull up past history...!! Greece was once an Empire......Where is Italy in todays economy, they were once the Roman Empire....... My point being..... History of what once was doesn't mean it will be that again......

chattels: @noname Just finished watching Tucker and now the %

Sergio: @noname the decline in the dinar started in the first gulf war but really changed in 2003. Then iraq had a choice to float it or go with a program rate. So that how we got to today

noname: @chattels I read and listen to the articles that come from the CBI. Nothing much else.

noname: @chattels CBI and goi have nothing to do with the other.
noname: @chattels separate

noname: @chattels later
chattels: @noname Seriously ?
chattels: @noname laterz

Sergio: After the gulf war sanctions where where put on Iraq which the saddum raised the value to about 3.20 whiched he used to try to bribe people in the UN in the oil for food program. Remember the Iraqi bank was controlled by him and he could do what ever he wanted. That is not the case today. The CBI is trying to conform with the IMF.

ElmerFudd: When is their big IMF meeting?

Sergio: Hope that explanation helps.
​Spectra: What you mean really is the CBI is now forced to conform!
Spectra: Iraq did not have a choice!
Sergio: @Spectra yup
Sergio: @Spectra hello there

Spectra: right

chattels: Abadi: Restoring stability to liberated areas is a top priority

http://www.alliraqnews.com/modules/news/article.php?storyid=64409

chattels: Equal to the eradication of corruption, DAESH, etc. ?

chattels: Iraq has a lot of unfunded priorities, eh ?

Spectra: Well yes

ElmerFudd: When is their big IMF meeting?

Sergio: @Spectra it read how the whole RV got started. It was started by those in Egypt

chattels: The world is too much with me this evening. I need some " dreamtime ". Laterz all.

Spectra: Egypt!
Spectra: @chattels gn !

Sergio: @Spectra during the war peeps in Egypt stated buying dinars and holding them

Spectra: @chattels sleep well! :)
Spectra: @Sergio interesting

Sergio: @Spectra when the value went up a few clicks in 2004 they started to sell them back and made money

Sergio: @Spectra I'll look for it and put it on here when I find it. It's on my site somewhere lol

Spectra: @Sergio i heard something about before too

Sergio: @Spectra yup and that's the way it caught on and made its way over here

Spectra: interesting im not sure if this rumour is realbut i also heard the rate actualy did change one time!after 2003 for like a few hours!

Spectra: and its was brief!
Spectra: like on then off!

Sergio: @Spectra when the Iqd was part of the Swiss Dinar is was about 1.80 or there about
Sergio: @Spectra yes

Spectra: 1.80
Spectra: but that rate change for that few short hours you h3eard about it too?
Spectra: Im trying to find out if it is only me who has heard of this?

Sergio: @Spectra on top of it all, it has never ever been open for trade speculation which means it was never traded by banks to make money off of

Spectra: ok yes
Spectra: no forex!

Sergio: @Spectra right

Sergio: @Spectra that's not to say it won't happen now that it's not under control of a dictator

Spectra: dictator..you calling Abadi a dictator ? or Alak ?-lol
Spectra: or the IMF!?

Sergio: @Spectra it amazes me how so many just do not understand the history or the lies that are being told.

Spectra: Right they no not too much about where they tossed their money!
Spectra: ;$$
Sergio: @Spectra after about 3 months into this I called emailed any and everyone that is in the know about currency and or Iraq. I provided proof of my emails from the UN David Briggs who was a person in direct contact with Iraq

Spectra: WOW,you are a very wise man!
Spectra: and at the end of your conclusion?

Sergio: @Spectra so from that time forward and what was told to me, I knew that all of those sites where full of crap.

Sergio: @Spectra IMF told me that a countries central bank controls the value of its currency

Spectra: @Sergio ok and? anything more exciting! :) :yes: keep going!

Sergio: @Spectra David Briggs said the IQD is being used by other countries central bank as legal tender

Spectra: @Sergio i thought so! yes!
Spectra: @Sergio makes sense!
Sergio: @Spectra it's is the currency of Iraq and is being traded mostly with its neighbors

Spectra: @Sergio but what countries?yes neighbors only!
Spectra: @Sergio but he did say mostly?
Spectra: @Sergio Mostly leaves it open for thought!

Sergio: @Spectra all countries as far as oil must USD to buy
Spectra: @Sergio right

Sergio: @Spectra the IQD is backed by the USA so the other Countries accept the IQD
Spectra: yes, we did all the groundwork for iraq!

Sergio: @Spectra it is used for buying and selling of good import and export
Spectra: nice!

Sergio: @Spectra so for now the weaker their currency is the better for the Gov but that will not last forever. Once inflation starts to go up they will have to raise or lower the value of the IQD

Spectra: i was reading a facebook comment a iraq citizen left on Abadi's post today! This man said that his friend was paying rent on a shop at.450 dinars and it went up too 500 dinars!

Spectra: so there's your sign of inflation coming right there from a citizen!
Spectra: plus 450 dinars a month ?is that kinda cheap?
Spectra: Something strange going on?

Sergio: @Spectra listen to dr shabbie in that YouTube video when asked the question about the RV. He said it is one of the tools that it could use to fight inflation

Spectra: 450 a month to rent a shop he wrote it like that450 dinars a month?

Sergio: @Spectra ya that's strange

Spectra: @Sergio yes so if the guys was payibng 450 now he paying 500 thats a inflation red flag!

Spectra: @Sergio plus the 450 a month ? in dinars ?????very strange!

Sergio: @Spectra yes it would need to head to about 6% inflation

Spectra: @Sergio i put it up this morning early look for your self!
Sergio: @Spectra I will

Spectra: @Sergio whats going on there ..really! ....i know when my suspicions are up and theve been lately!

Sergio: @Spectra not sure

Spectra: @Sergio This and the market prices for goods is not matching ?
Spectra: @Sergio i wonder why/

Sergio: @Spectra no it's not unless it was a miss quote

Spectra: @Sergio im not buying it! My radar is up-lol
Spectra: @Sergio im going to keep looking at the commodities and prices!

Sergio: @Spectra my dear I have to 5 comes early. Well let hope your womanly senses are pointing in a good direction.

tman23: @Spectra .....This has been going on since late April ...early May where they make reference to without 3 zeros......The rent would be 450,000 and went to 500,000...... This is the process of educating the dropping of the 3 zeros

Spectra: @tman23 that Is a good way to see it! makes sensse!

tman23: @Spectra ....And taxes are being applied om commercial property, thus rent increase...... And for 450,000 the rental you would find would be the size of industrial spaces we have here..... what resembles storage facilities...

Spectra: @tman23 ok ! logical.
Spectra: @tman23 well does that indicate inflation to you?
Spectra: @tman23 well im off this beastly pc.! goodnight and good dreams!

Mark123: Did anybody read about the IMF meeting today. They gave their overview and stated that Iraq needs to stop the multi currency practice among other things.

Mark123: Iraq already knows this but they have not made a move in regards to changing it so lets hope they move on it soon.

noname: @chattels separate independent. Much like our federal reserve and the US gov. our president appoints the chairman. As Maliki appointed Alak. Do you agree Shabs was going to re-value the IQD in 2012 but Maliki issued an arrest warrant for him? So that tells me the CBI can raise the value when it wants to.

1184 to 3 dollars doesn't matter. This is why I pay more rate tion to what the CBI says than the GOI. For years the GOI has not been able to work together. But the CBI can raise the value when it's ready. Much like our federial reserve makes changes as it sees fit.

noname: Attention ^ 
​chattels: @noname .............. Do you agree Shabs was going to re-value the IQD in 2012 but Maliki issued an arrest warrant for him? - I have heard such stated by gurus, but what objective proof of such do we have ?

chattels: @noname I understand that conceptually / constitutionally that the CBI and GOI are "separate ", but such is a law and order analysis which I do not believe is effectual in Iraq.

chattels: @noname My sense is that Shabbibi got into trouble because he refused to loan money to the GOI from the CBI, but if the reports are correct, Alaq has advanced funds to the GOI since the " invasion " of DAESH. DAESH was / is an existential threat to Iraq.

noname: The Governor of the Central Bank of Iraq Mr. Ali Mohsen Ismail participated in a session of the Institute for Development Policy Progress His Excellency the Governor of the Central Bank of Iraq, Ali Mohsen Ismail Al-Alaq, participated in the session organized by the Institute for Development Policy Progress on Saturday, July 15, 2017 with a number of the bank's Directors and a number of specialists in the financial and economic fields.

His Excellency discussed the various matters related to the banking matters and also the financial situation of the country, indicating during the meeting the problems facing the balance of payments, especially deficit in the budget of 2017, which leads to instability of the state budget because the volume of dependence on money that comes from abroad is higher than the money that Come from inside.

The governor explained that the deficit in the balance of payments is putting pressure on the central bank because the country today is unable to entering foreign currency in addition to the money coming from oil. Also the balance of payments deficit means that the country is unable to attract investors, tourists and others.

noname: I don't have the artical where shabs was going to raise the value. But tman has spoken of it. Maybe he does

noname: Until they have an international tradeable currency they won't be able to attract investors.

noname: That artical I got off cbi.iq under announcements.
noname: @chattels have a good night I got to sleep. Have a good one

RickeyT: @Meatball are you considering a change????
 

Delta "They Need to Show the True Rate!" , 2 AUGUST

More confirmation that the LD’s are printed.  May & June documents...looks like they have profit/loss...and in the expenses...a “new currency.”  In May I believe they issued those notes.  About 4 Million + 5 Million dollars was spent on printing...then in June, more printing.  Whatever they printed wasn’t that much – so could the rate be higher than what we expected...or are they planning on more eDinars? It’s possible that we may see the rate higher than 1-to-1.   Up until now, we haven’t had any proof – but now it looks like we have confirmation that they have been printed.  We will have 1 and 2 dinar coins.  I found this to be very, very exciting.  They are about to do it.  We are really very close.  This information is NOT on the English site...   I believe that we are really, really close based on this information.  They might really pull the trigger after they return from the IMF meeting.  

 Iraq wants to attract investors.  As you know...words like “in the coming days” and “soon” don’t mean much.  LOL.   They said that in order to attract investors, they must change the exchange rate.   They told them...the board of directors...they will consider...basically Iraq is all ready to go.  As soon as they go to the IMF and come back – we are expecting to see great things.  The IMF already told Iraq what they need to do.  There is no point in showing up unless they have those things done.  Iraq must meet the demands of the IMF.  They need to show the TRUE rate. 

TNT: ELMERF123456 UPDATE, 2 AUGUST

Elmerf123456:
Relax and live your life Now! IMO there is no stopping or holdups. They have always had their plan and we are in the sidelines and soon a benefactor of their plan

What may be the saving grace is there and it is an expansive growth and development effort going on in Iraq right now and you will hear about this very soon.

The country is taking on modernization and there's no way in my opinion that can be maintained at a program rate that was put on them in 2003.

I don't see in how the world how they could do that at the current rate. And at the same time they owe the world over $1 trillion in debt.

http://www.al-monitor.com/pulse/originals/2015/09/iraq-abadi-reform-de​centralized-state.html

FRANK26 UPDATE, 2 AUGUST

too much ARTICLE VIII talk...(on paper)...and IMO...they will hand that in to the IMF tomorrow [Tuesday].  It’s becomes more and more obvious that IMO … the lifting of the 3 zeros happened in those 90 days.  The government workers get paid on the last Thursday of every month.  On the 21st they got paid … and on paper … IMO .. they got paid 1 to 1.  The next time … I believe they will transition from 1 to 1 to finally giving them the new rate.  BTW – we found something else...Iraq’s equivalent of the USA’s eBay.  It’s interesting how things match up with a 1 to 1 rate.   Our friend has not called us yet...but the last time we talked to him...he told us that the LD’s and the COINS are on the table. I believe that they are ready to go.  It’s all great news