Word for the day…
Iraqi Dinar/Dollar auction 01-18-17 (most recent listing)
Currency Auctions Announcement No. 3362
This daily currency auction was held in the Central Bank of Iraq on the 1-18-2017
The results were as follows:
|Number of banks||35|
|Number of remittance companies||17|
|Auction price selling dinar / US$||1182|
|Auction price buying dinar / US$||—–|
|Amount sold at auction price (US$)||157,515,015|
|Amount purchased at Auction price (US$)||—–|
|Total offers for buying (US$)||157,515,015|
|Total offers for selling (US$)||—–|
To improve is to change, so to be perfect is to have changed often. – Winston Churchill
*** Current News ***
RCookie has passed away. The Dinar Community has lost a great one.
We have opened up a Memorial Fund for the Family
Robert Cook was tireless in his support of the entire Dinar Community. His effort, his contribution and his spirit will be greatly missed. This memorial fund is an expression of our gratitude. It will be used for floral arrangements and minor expenses prior to his funeral… The rest will be turned over to the family for final expenses and other – as they see fit.
Donate Here: https://www.gofundme.com/robert-cook-memorial-fund
DU Call – “Homage to RCookie!!”
from Tues – Jan 17th
w/Hutch, Mr White, BGG & more!!
Click-N-Listen (link below)!!
BGG ~ Still the biggest news of the day…
I just wish people would quit listen to [STUPID] – and imagining the worst. That is NOT WHAT HE SAID!! This thing is still ON!!
Governor of the Central Bank’s “Tomorrow Press”: Iraqi dinar is not in danger and delete the zeros Postponed
BAGHDAD / Tomorrow Press – The Central Bank, said on Sunday that there is full control of the Iraqi dinar, revealing that the deletion of zeros from the currency, deferred for the time being.
The governor of the bank, on the Keywords, for “tomorrow’s Press,” that “the rumors about the Iraqi dinar at risk and prone to degradation and decline in comparison with other currencies as dollar, is not true,” adding that “Msatralih dinar fully and that in progress.”
He added, “The Bank operates in accordance with the monetary and fiscal policies which are managed accurately and feminization and that the issue of preservation of the Iraqi dinar of the priorities of his interest, but it’s at the heart of his work.”
And on the application of the process of deleting the zeros of the Iraqi currency, Keywords, said that “the Iraqi Central Bank did not specify a date for the”.deletion of zeros from the currency dinar, noting that “subject to availability of appropriate conditions, including the general stability in the country.”
He stressed the central bank governor and the agency, the need to “ensure the success of the process of deleting the zeros requirements before starting out, so the central bank will continue technical preparations in order to be practical fit when deciding deletion.”
SO A REPORTER FROM TOMORROW PRESS ASKS ALAK IF THE DINAR IS IN DANGER AGAINST OTHER CURRENCIES AND HE SAID NOT AT ALL WE ARE CONSTANTLY MONITORING IT, HAVE PROCESSES IN PLACE AND HAVE EVERYTHING UNDER CONTROL.
THEN THE REPORTING ASKS HIM WHEN THE DELETION OF THE ZEROS PROJECT WILL START AND ALAK’S RESPONSE IS NOT UNTIL IT IS SAFE TO DO SO!
NO EARTH SHATTERING INFORMATION HERE. THIS IS WHAT WE’VE TALKED ABOUT COUNTLESS TIMES ON DU. IT IS A PROCESS THAT WILL ONLY BE IMPLEMENTED WHEN ALL OF THE METRICS THEY ARE LOOKING FOR ARE MET. THIS WILL GIVE THEM THE GREATEST POSSIBILITY OF SUCCESS. TO DO IT ANY OTHER WAY WOULD BE CRAZY… – LOOPSTER
Mr White ~ Alak is not speaking about the “project”, but is speaking about one piece, one segment of the entire project. The point is not the reduction of the note count, but the actual removal of the large notes from the currency following changes within the marketplace. He is saying that he does not know when that will be because the market conditions are not right/correct at this time.
Why is this? What condition is making it necessary for the large notes to be used in the market place? Answer; the costs of goods. The actual prices of the goods in the stores and shops. Alak is saying that until the conditions are correct he will not have a date for when the large notes will be removed.
What will change the conditions in the marketplace? What will change the prices in a marketplace that imports over 90% of its goods?
Answer; a dramatic change in the value of the currency that is used to pay for those goods.
This is what Alak, a banker, is referring to. Once the value of the IQD is increased and its effects percolate throughout the marketplace and the costs/prices in the marketplace begin to lower, then he will have a better forecast on the removal of the larger notes from the currency (Alak’s words).
My Ladies (Dinar Guru) – …WHAT IS IBAN? IBAN IS AN INTERNATIONAL BANK ACCOUNT NUMBER. THAT IS ALL IT IS AND NOT EVERY COUNTRY THAT DOES BUSINESS INTERNATIONALLY IS REQUIRED TO HAVE ONE. FOR INSTANCE THE USA DOES NOT REQUIRE ONE BUT SOME COUNTRIES DO IN ADDITION TO A SWIFT OR BIC NUMBER. NOW YOU CAN ADD IRAQ TO THIS LIST, BUT STILL THIS HAS ABSOLUTELY NOTHING TO DO WITH CURRENCY…MONEY WILL NOT BE FLOWING INTO IRAQ ON THE IBAN. IT IS NOT “THE” IBAN AND IT IS NOT A MEANS OF CARRYING MONEY, IT IS SIMPLY JUST ANOTHER ACCOUNTING SYSTEM AND IT IS NOT A PRECURSOR TO ANY SO CALLED “RV”…
BGG ~ This person is downing this investment and busy “cashing in” on what little fame they have garnered HYPING some RIDICULOUS “digital crypto-currency”… NASTY.
P.S. Thanks for the juvenile lesson on IBAN except the US doesn’t use one because it’s primarily a European/M.E. thing… we use SWIFT Codes and ABA/Chips routing numbers to send and track money. Most of the rest of the world is happy to accommodate us (we are the U.S. – right?). Though it doesn’t directly imply a change in the value of their currency – IT DOES IMPLY A “re-engagement” with the economies nearest them and then the rest of the world. This is all part of the program we are looking for… BOOM!!
Read More: http://www.dinarupdates.com/observer/
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Dinar Updates – “NEWS TIME” w/BGG & Company – Jan 19th 6:30pm CST – In the Dinar Updates CHAT Room!!
www.DinarUpdates.com – save as favorite
BGG (Dinar Guru) – I really wish people would quit imagining the worst… nothing in here [The Alak interview] dissuades me of their ultimate intent… in fact, if you look at this, it really looks like they had imagined this to be DONE ALREADY. We are IN THE END GAME. This “deferred for the time being…” lingo is very gentle and a VERY NEW version of what they have been saying. They had POSTPONED indefinitely this project back in late 2012 (or so)… how is that different from right now??
Ultimately – this is a much different, in a MUCH DIFFERENT CLIMATE – so, while the BOO BIRDS will say “same ole – same ole” – it’s NOT EVEN CLOSE. VASTLY DIFFERENT.
Read More: http://www.dinarupdates.com/observer/
10.2% growth rate over the Iraqi economy in 2016
Baghdad / term – The World Bank declared that Iraq’s economy has achieved a growth of 10.2% over the past year because of the large increase oil production, and expected that the Iraqi economy will grow this year by 1.1%.
The bank said in its annual report on growth in the Middle East and seen by the “long” “The estimates show that the growth rate in the Middle East and North Africa fell to 2.7% in 2016 due to the fiscal consolidation in some countries, constraints and restrictions on the measures oil production in other countries. ”
The World Bank said that “the growth rate declined sharply in the Gulf Cooperation Council countries to 1.6% with the extension of the effects of the weakness of the oil sector to the non-oil sectors,” explaining that “growth has accelerated in Iran to 4.6% and in Iraq, to 10.2% thanks to big increases in production oil, and in Iran thanks to the recovery of the agriculture sector, and car production, trade, and transportation. ”
He noted the World Bank report that “in terms of oil-importing countries, the growth rate in Egypt decreased slightly to 4.3% in fiscal year 2016, as it faced manufacturing industries with qat due to lack of foreign currency, and declining tourism sector growth. It is estimated that the growth rate in Morocco dropped to 1.5% in 2016 due to the contraction of the agricultural sector caused by drought. ” He stressed that “the expected growth of the economy of Iraq during the current year of 1.1%.”
If you could find some way to convince folks to at least skim through this document, they would be amazed. The moves Abadi has been making the last few months – kind of sense now. There is some outstanding information here.
IMF EXECUTIVE BOARD COMPLETES FIRST REVIEW IRAQ’S STAND-BY ARRANGEMENT (45 pages…)
Kaperoni (Dinar Guru) – Article: “Iraqi dinar is not in danger and delete the zeros Postponed” Quote: “the Iraqi Central Bank did not specify a date for the deletion of zeros from the currency dinar,” noting that “subject to availability of appropriate conditions, including the general stability in the country.” He stressed the central bank governor and the agency, the need to “ensure the success of the process of deleting the zeros requirements before starting out, so the central bank will continue technical preparations in order to be practical fit when deciding deletion.” I don’t see anything bad in this at all. …the CBI must create the conditions for the project to succeed. Time is not unlimited here…they need to get started before the market economy can launch. [post 1 of 2….stay tuned]
BGG ~ Tick-Tock-Tick-Tock…
Read More: http://www.dinarupdates.com/observer/
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Iraq’s hidden wealth
Iraq has vast natural resources, it stands fifth World oil reserves, as well has other riches such as phosphates, sulfur and natural gas.
Iraq also has great tourist fortunes, both on the level of religious tourism or archaeological tourism, and also has an environmental and geographical diversity is important Kalohuar and mountains, makes it a magnet for researchers to the area and passion for access to the natural environment.
Iraq has a big and important hidden wealth, this wealth is not hidden meaning rough, but neglected and is disabled, those resources are human resources that abound in Iraq.
Iraq is a young country, the proportion of young people in which two thirds of the total amount of its occupants, and the percentage of those under the age of 60 years is 90%.
This energy is in Iraq, is the quality of energy, we have not had for many developed countries, which are also Ajuzh countries in Europe.
This wealth Youth need to optimal utilization, and guide them in the right path, and create an enabling process for Tmknyn young to be productive, and to take it upon themselves to open new horizons for the reconstruction and development of the country.
Of the most important enabling practices to harness youth energy and investment, are pushing young people in different skill courses, enabling them to be the owners of different skills and expertise, it produces cadres able to contribute to the development of all businesses in the country.
As he opened the door of Graduate Studies and Research, also it is an important enabling condition for the advancement of youth to take a leadership role in the leadership of the development process in Iraq.
The most important thing -ouma these experiences Almugodh- is to find jobs for these young people, and lift them out of solving unemployment and deprivation, nor are finding opportunities only through encouraging young people to production, the establishment of loans to small enterprises programs, to give them an opportunity to be creative ideas productivity, as well as activating investment and attract global companies, and involving local young people to take advantage of the expertise in these companies and developed to be used in a comprehensive Iraqi renaissance.
Youth Iraq’s wealth is the wealth of potential, as important the rest of the wealth, and the government and civil society organizations, working to invest and develop optimally.