Dinar Daily NEWS Blog – October 22nd

US banks are considering the mechanism of working with Iraqi banks

Baghdad Mawazine News – An Iraqi banking delegation discussed with a number of banks and financial institutions operating in the United States of America opportunities for cooperation between the two parties.

“A delegation of 17 private banks, Rafidain and industrial banks and the executive director of the Association of Private Banks Ali Tarek and a number of the Association’s advisors held a meeting at the American Center for Strategic Studies in Washington, DC, with an American delegation,” the Association of Iraqi Private Banks said in a statement. The US Treasury, the American banks, the OPEC Foundation, American financial institutions and a number of employees of the US Embassy. During the meeting, they discussed the Iraqi economy and the challenges facing it…

…“The US banks now have greater confidence in the Iraqi banks, especially after the positive steps taken by the Central Bank of Iraq to fight money laundering and punish violators,” said Denis Flannery, a Middle East official at Citibank…

Read More: http://www.dinarupdates.com/showthread.php?55035-US-banks-are-considering-the-mechanism-of-working-with-Iraqi-banks

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The KRG welcomed the initiative for dialogue and resolving Abadi outstanding issues between Baghdad and Erbil

The Kurdistan Regional Government, announced Thursday, welcomed the initiative of the Prime Minister Haider Abadi, calling for dialogue on outstanding issues between Baghdad and Erbil, according to the Constitution, under the principles of partnership and compatibility.

The Government’s statement said the Agency received a copy of {Euphrates news} today to Kurdistan Regional Government Council of Ministers today held a meeting chaired by President nigrvan Barzani, the territorial Government, to attend Vice kobad Talabani, in Erbil, where “address recent events and the current status of Kirkuk city.”…

Read More: http://www.dinarupdates.com/showthread.php?55014-The-Kurdistan-Government-welcomed-the-initiative-for-dialogue-and-resolving-Abadi-out


Barzani will resign in the next 48 hours

Baghdad / Sky Press – Deputy Assistant Secretary of State for Iraq Affairs Joseph Benenton, on Wednesday, President of the Kurdistan region, Massoud Barzani, that Washington is waiting to resign after the recent events, stressing that his government is waiting for this action during the next two days and otherwise will intervene directly.

This came after the reluctance of US officials to respond to contacts Barzani, according to Reuters news agency.

Benenton expressed his country’s disappointment with the developments that have reached it. Washington considered itself the first and fundamental ally of Massoud Barzani, and when we asked the president of the region to postpone the referendum, he gave up and insisted on doing what we opposed.

Benenton stressed that “his country is waiting for the president of the region to submit his resignation urgently, since his stay in power is a mistake,” noting that “the political parties in the region all insist on the need to isolate Barzani of the pyramid of regional authority.”

He also stressed that “his country will intervene directly if he does not submit his resignation within the next two days.”

This and demanded the President of the Parliament of the Kurdistan region, Yousef Mohammed, this morning, 18/10/2017 President of the region to submit his resignation, in order to preserve the water face, as he put it.

The US Secretary of State, Telrisson, told the Prime Minister, Haider Abadi, his country’s support for security measures in Kirkuk and disputed areas, stressing the need to preserve the territorial integrity of Iraq.

Read More: http://www.dinarupdates.com/showthread.php?55012-Barzani-will-resign-in-the-next-48-hours


Recent Headlines…

The President of the Republic approves the removal of the governor of Kirkuk (Side note – this was approved by Fuad Massoum; the KURDISH POR)

US Chevron suspends its activities in Kurdistan

A Saudi diplomat: the next phase will witness a huge business with Iraq

Iraq warns foreign oil companies from contracting with the Kurdistan region

URGENT JUDICIAL COUNCIL: An arrest warrant issued against Kosrat Rasoul (KRG official)

Kurds head again towards Kirkuk; IMIS turn tail (this has the feel of “propoganda” )

U.S. Treasury: pay attention to the development of the private banking sector in Iraq


BGG   Article:  “Iraq Will Remain United By HAIDER al-ABADI OCT. 18, 2017”  Quote:  “In June 2014, the cover of Time magazine echoed a sentiment common among pundits and outsiders: “The End of Iraq, it read. I am proud to say that three years later, thanks to the Iraqi armed forces and the Iraqi people, these predictions were wrong…”   What is Abadi up to??   Why submit this to the NYT today??   Of all the times to be concerned with what the world thinks. It appears there may be much more riding on this than we can imagine.

Read more:  http://www.dinarupdates.com/observer


Kurdish source: Nuri al-Maliki allowed Peshmerga to extend for a share of oil smuggler

Revealed a leader in the Kurdish National Union Party about a deal was the former Prime Minister Nuri al-Maliki had held with the President of the Kurdistan region Massoud Barzani, while planning for a second term in 2010

The Kurdish leader said that a secret agreement signed between Maliki and Barzani stipulates that Maliki get a percentage of Kurdish oil smuggled, and be a partner with the Barzani family in the proceeds of oil smuggling, either from Kirkuk or the region in exchange for allowing the expansion of the Peshmerga in the disputed areas, and that gave a pledge Barzani has joined Kirkuk in Kurdistan and turned a blind eye to the impoverishment of the main neighborhoods of the oil-rich city.

The source pointed to the leaks of a private dialogue between Barzani and Maliki in 2010, in which the latter said that the western region of Iraq does not mean much, and is sure that Anbar, Nineveh, Diyala and Kirkuk will not be under the control of Baghdad, and is ready to give up those areas, To choose any area to be included in Kurdistan in exchange for the Kurds support Maliki in keeping him at the head of the executive authority in Iraq,

A leader in the National Alliance said that Maliki is in a state of hysteria because of political gains achieved by Abadi, and that he was disappointed with any victory in the upcoming elections due to the broad popularity of Abadi as a result of his skill in dealing with the referendum crisis and his success in restoring the disputed areas, Without armed clashes with the Peshmerga.

The source, who preferred to keep his name to avoid embarrassment, that Maliki continues contacts with Iranian leaders in search of an opportunity to restore some of the presence in the Iraqi Shiite circles, seeking the leader of the Islamic Revolution in Iran, Ayatollah Ali Khamenei and his adviser Qassem Soleimani support in the upcoming elections, The existence of an international conspiracy to postpone the elections and keep Abbadi two more years in office.

The source said Maliki asked Kassim Soleimani if ​​Iran would continue to support Abadi and provide a basket of gains to the Iraqi prime minister to ensure his political future? How is Iran’s support for Abadi balanced with Turkish and American support? Sulaimani replied: “Ebadi managed the crisis with the mentality of the state man and achieved a rare state of balance between all parties, and he deserves all of their support.”

Read More: http://www.dinarupdates.com/showthread.php?55034-Kurdish-source-Nuri-al-Maliki-allowed-Peshmerga-to-extend-for-a-share-of-oil

BGG ~ So it becomes clearer and clearer as to why the Kurds didn’t use their critical “swing vote” against Maliki when they could have. Barzani was “on the take” and in bed with him all along…

I’m not sure I have much sympathy left for him these days…


Members of the Barzani family arrive in the UAE and news of a political asylum request

Baghdad / Sky Press – A number of members of the Barzani family arrived Wednesday in the UAE capital Abu Dhabi amid expectations of a request for political asylum there.

A private plane carrying members of the family of Kurdish President Massoud Barzani to Abu Dhabi has been released in secret, Barzani will leave for the UAE on the pretext of receiving treatment in a hospital, according to informed sources.

The leaks pointed out that Barzani accepted an invitation from the rulers of the United Arab Emirates to grant him political asylum after his resignation from the presidency of the region following the major setback suffered by his separatist project.

Barzani is reported to have suffered from cancer and his urgent need for travel and treatment, which has caused his lack of media coverage after the recent events in Kirkuk.

Read More: http://www.dinarupdates.com/showthread.php?55013-Members-of-the-Barzani-family-arrive-in-the-UAE-and-news-of-political-asylum-request


The President of the Republic approves the removal of the governor of Kirkuk

Baghdad: al-Furat News – President of the Republic Fuad Masum, the removal of the governor of Kirkuk, Najmuddin Karim.

The President of the Republic Fuad Masum has refused to ratify the removal of the governor of Kirkuk until the decision to appeal, and said the legal adviser to the Presidency of the Republic that “the postponement of the decree of the President of the Republic to remove the governor to cut the legal period in the appeal

For its part, circulated the General Secretariat of the Council of Ministers, To all government institutions

The appeal of the governor of Kirkuk before the Administrative Court of the decision to remove him from Parliament

The Administrative Court responded today the appeal submitted by the governor of Kirkuk, article Necmettin Karim on the decision of parliament to remove him from office.

Read More: http://www.dinarupdates.com/showthread.php?54957-The-President-of-the-Republic-approves-the-removal-of-the-governor-of-Kirkuk

BGG ~ Whoa!! This stuff is getting real for these KRG actors. Karim has been the Gov. of Kirkuk for as long as I can remember.

I bet he wishes he weren’t photographed sitting next to Barzani in those meetings the other day, helping him look all “presidential” and stuff. YIKES!!


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Kaperoni (Dinar Guru) –  Articles:  “US banks, is considering working with Iraqi banks mechanism”   Iraqi bank delegation discusses cooperation opportunities in America”  I can’t state this enough, there is no overnight RV or any kind of cash out through banks. If these articles show us anything, it shows us that banks by nature take a conservative approach to dealing with Iraq. If and when Iraq is in compliance with the IMF and meets Article VIII, then I would expect a few US banks to begin to participate with Iraq for investment purposes. As that grows and the CBI demonstrates it can meet the needs and requirements, investment will increase opening the flood gates to investors. But this does not happen fast. As for us as investors, I have stated before, I believe we are just “watchers”. We will see the dinar begin to rise via float when appropriate. As for of cash out or exchanges would probably be through some type of currency broker/ ECN, market maker or investment firm. The problem is this all falls on Iraq to get moving. Without the new CBI law, deposit insurance law, Article VIII, etc. nothing happens.

Read more:  http://www.dinarupdates.com/observer

Iraq Will Remain United

By HAIDER al-ABADI OCT. 18, 2017

BAGHDAD — In June 2014, the cover of Time magazine echoed a sentiment common among pundits and outsiders: “The End of Iraq,” it read. I am proud to say that three years later, thanks to the Iraqi armed forces and the Iraqi people, these predictions were wrong…

Read More: http://www.dinarupdates.com/showthread.php?54989-Iraq-Will-Remain-United&p=179863#post179863

BGG ~ That is right Bobby (and Thank you – BTW)  – what is he up to?? Why submit this to the NYT today?? Of all the times to be concerned with what the world thinks. It appears there may be much more riding on this than we can imagine.


Adam Montana (Dinar Guru) –   Article:  “Oil stabilizes with support from supply contraction and expectations of an OPEC extension”   Quote:  “Oil prices held steady on Thursday, supported by continued OPEC-led output cuts and tensions in the Middle East, as well as a drop in US production due to hurricane closures.”   Semantics are everything sometimes… such as here.  “supported” – not demanded or mandated.  “OPEC-led” – This is HUGE.  OPEC is leading this initiative, this agreement, this voluntary agreement.  Iraq is still free to break the mold, RV and sell a gazillion barrels tomorrow to fill their coffers and support the increase in exchange. It’s going to cause a little disturbance in the world, but 2 days later Iraq (or the PTB in Iraq) simply pretends to apologize (that’s how it works!) and 5 days later the world adjusts and we move on.

Read more:  http://www.dinarupdates.com/observer

Iraq’s Role in Countering The Islamic State’s Finances

Ali Mohsen al-Alaq, the governor of the Central Bank of Iraq, discusses his organization’s efforts to cut off and isolate financial institutions in territory controlled by the Islamic State following the terrorist group’s creation in 2014. As authorities push IS out of its core territory, investigating and disrupting its remaining financial networks in Iraq can help weaken its ability to operate as a terrorist organization and insurgency.


Adam Montana (Dinar Guru) –   When Abadi vs Maliki was happening, that was another major step for Iraq. Again, it wasn’t a promise of immediate RV, but let’s face it – a major change in value of the Dinar was never going to happen with Maliki at the helm. Maliki simply had no reason to act in Iraq’s best interest when he had such a huge ability to pilfer the system under his power. I firmly believe that Abadi is not like Maliki, and when he won that battle, our landscape changed for the better…but even that was not enough. There was still the issue of the HCL, which MUST be resolved before (or simultaneously with) an RV.   Now let’s look at today…this immediate point in time, where once again the rumor mills are churning and people are getting excited.  I’m going to make two specific statements right now, and I hope they stick:  1. None of the gurus can call the Date.   2. Despite #1 above, the current level of activity is not to be ignored. Things ARE happening.  [post 2 of 2]

Read more:  http://www.dinarupdates.com/observer


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Kirkuk: Asking the Next Big Questions

Will the Kurdish government join forces with the central Iraqi government in Baghdad to govern Kirkuk?

Before the ISF staged its operation, there had been rumors that the faction of the Patriotic Union of Kurdistan (PUK) party led by the Talabani family proposed jointly governing Kirkuk province with Baghdad. In seeming support of the rumors, the Talabani faction ordered Kurdish peshmerga fighters to withdraw and to allow ISF to retake some of the energy installations in the city. It’s still uncertain, however, if there’s a deal in place between the PUK and Baghdad to jointly manage the province’s government or its oil and natural gas resources. That a deal would exist makes sense given the longstanding divisions between the PUK and rival Kurdistan Democratic Party (KDP), which controls much of the economy in Iraqi Kurdistan.

Will Baghdad maintain control of Kirkuk’s oil exports?

It almost certainly will, at least in some capacity. For the last three years the Kurdistan Regional Government (KRG) has been able to export oil produced at the Bai Hassan oil field and the Avanah and Baba Gurgur formations of the Kirkuk oil field, given it had effectively appropriated and incorporated the fields into its own energy sector. The federal government is now in control of those fields and could use them in negotiations with the KRG. But, though Baghdad plans to rebuild its own pipeline to export oil from Kirkuk,
right now all export infrastructure from the city goes through Kurdish-controlled territory, which could complicate Baghdad’s ability to sell the oil Kirkuk produces. Baghdad, recognizing its constraints, could offer the KRG joint administration of the oil resources or continue transit contracts with it to distribute Iraq’s oil wealth. Alternatively, it could shut off production in Kirkuk to increase financial pressure on the Kurdish government. Thus, there’s the chance that Iraq’s northern oil exports — which amount to around 550,000
barrels per day — could decline by as much as 300,000 bpd. In the long run, Baghdad hopes to boost Kirkuk’s production to above 1 million bpd.

What will KRG President Massoud Barzani and his party, the KDP, do next?

The loss of control over parts of Kirkuk will weaken the KRG’s position, but it will weaken the KDP even more. Barzani was already facing criticism for extending his presidential mandate that originally was set to end in August 2015. Though he has supported parliamentary and presidential elections scheduled for Nov. 1, it’s not clear that they will actually be held. To rebuild some of his support, Barzani could tap into nationalistic sentiments by painting pro-PUK segments of the peshmerga, which withdrew from Kirkuk when Baghdad entered, as traitors and by holding fast to his calls for Kurdish independence from Iraq. It’s more likely, however, that the weakened KDP will reduce its demands on Baghdad to facilitate negotiations…

Read More: http://www.dinarupdates.com/showthread.php?54968-Kirkuk-Asking-the-Next-Big-Questions&p=179832#post179832

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Kurdish list calls Barzani to apologize and end his “political life”

Baghdad today – The Kurdish new generation called on Monday for Barzani to apologize to the people of Kurdistan and immediately resign from his post, ending his political life, while threatening to resort to the street.

The list said in a statement that “Barzani and the leadership of the five ruling parties in the region must submit their resignations immediately, because they are the cause of the current situation,” indicating that “if the regional leaders did not recognize responsibility for these events, they will seek to move the street to end this government Failed “.

The list added that “the events of Kirkuk have shed the curtain on the situation in Kurdistan, and showed that the traditional parties have failed to deliver our people to safety, but on the contrary they put the Kurds in a dark spiral, and the failure in Kirkuk back to that political elite controlling the political life In Kurdistan since the early eighties of the last century. ”

According to the statement, “what is happening now is only the preliminary results of the referendum, which Massoud Barzani insisted on the September 25, 2017 with the help of political parties and their traditional leadership, and the exclusion of advice and suggestions of friends of our people at home and abroad and to make personal interests above the higher interests of the people of Kurdistan” .

The list demanded “the removal of the government of Najran Barzani, the acceleration of the formation of an interim government does not organize traditional political figures, and the new government in cooperation with the United Nations to prepare for the elections of the parliament of Kurdistan in accordance with international standards,” noting that “the Kurdish people face a serious dilemma, In which everyone will critically examine the new reality and hold accountable those responsible for these events. ”


BGG ~ While I doubt very much Barzani jumps up and resigns today because one of the fringe opposition parties says he should…

…this is exactly the developing narrative I outlined from very early on. This referendum had NOTHING to do with Kurdish independence and EVERYTHING to do with KRG internal politics.

All of which is why you saw the Gorran/PUK support for the vote softening in the last week leading up to the referendum. They had it figured from very early on. They had an idea of what the U.S. deal looked like. They knew Barzani passed on their GOLDEN TICKET. Why? Simple.

The Kurdish GOLDEN TICKET didn’t include Barzani as the regional President anymore… in fact, the documents referred to his role “post-Presidency”. It looks like, at this point, he had no intention of bowing out of the KRG ruling class during this next electoral cycle. It was all lies.

Let’s see which way he jumps next.


Post RV Checklist (it’s getting to be that time!! Listen up!!)

Dos and Don’ts of Windfall Wealth:

Treat it like a PowerBall win

– Tell no one, not even family. If you must talk, do so with one who is already in the know.

– Don’t run out & buy new “stuff”. People notice.

– Get an unpublished number and give it out very sparingly.

– Get a tax accountant you can trust to make sure the IRS is satisfied (Certified Opinion is something to look into) and pursue asset protection…

Read Complete List: http://www.dinarupdates.com/showthread.php?18519-The-Post-RV-Checklist-and-Flashback-documents&p=128477#post128477

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Thanks – BGG!!


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