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Word for the day…
Romans 5:5 (NKJV)
5 Now hope does not disappoint, because the love of God has been poured out in our hearts by the Holy Spirit who was given to us.
Heavenly Father, Thank You for pouring Your love in our heart by the Holy Spirit! In Jesus Name, Amen.
Mrs BGG
Iraqi Dinar/Dollar auction 26-08-15
Currency Auctions Announcement No. 3022 (most recent listing)
This daily currency auction was held in the Central Bank of Iraq on the 26-08-2015
The results were as follows:
| DETAILS | NOTES |
| Number of banks | 28 |
| Number of remittance companies | 10 |
| Auction price selling dinar / US$ | 1166 |
| Auction price buying dinar / US$ | —– |
| Amount sold at auction price (US$) | 218,346,331 |
| Amount purchased at Auction price (US$) | —– |
| Total offers for buying (US$) | 218,346,331 |
| Total offers for selling (US$) | —– |
More: http://dinarupdates.com/observer/
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The difference between death and taxes is death doesn’t get worse every time Congress meets. – Will Rogers
*** Current News ***
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BGG – Article quote: “Ft MP for the coalition of state law Hassan Sinead, his resignation from the membership of the House of Representatives. It is likely that the resignation of Sinead be a prelude to re-seat parliament to al-Maliki after limbering included government office in addition to the pursuit of obtaining the legal immunity…“ just because they say they are giving Maliki a seat – or someone is giving up their seat (more like Maliki bought it) means he will retain immunity – or they won’t arrest him anyway… especially with the crimes he is CLEARLY accused of. There is plenty of precedent for him to have his “immunity” lifted and be arrested immediately – this is a weak tactic… but it tells you a lot about the struggle going on right now.
Read More: http://dinarupdates.com/observer/
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How a Currency Crisis in Iraq Risks Fight Against Islamic State
Jack Fairweather Rinat Gaynullin
Any currency crisis usually comes with dire consequences for a country, and the threat of one in Iraq shows how the impact can go beyond the economy and markets.
A foreign-exchange crunch because of a drop in oil prices could force a devaluation of the dinar and risk making the fight against Islamic State militants even tougher. The nation, currently OPEC’s biggest producer after Saudi Arabia, is dependent on oil revenue to fund its operations on the battlefield and quell growing unrest over the economy.
Iraq’s Looming Dollar Shortage
Dollar reserves tumbled about 20 percent to $59 billion as of July 23 since the fighting escalated a year before, and the losses are accelerating. In the first 25 days of August, the central bank sold $4.6 billion of currency to keep the dinar at a pegged rate, a daily outflow of about $184 million, data compiled by Bloomberg show.
“Iraq’s perfect storm means the country will continue to lose reserves until the government of Iraq decides to devalue the dinar,” said Frank Gunter, author of “The Political Economy of Iraq.” The currency could weaken as much as 20 percent over the next year, he said.
Global Wave
It raises the prospect of Iraq joining other developing nations in a new wave of devaluations as emerging markets take a hammering this month, led by China. The Iraqi dinar is one of those most at risk in the Middle East from that happening, though the current exchange-rate regime is likely to remain, according to research published on Tuesday by Emirates NBD, the biggest bank in Dubai.
Saudi Arabia’s central bank this week said it’s committed to the riyal’s dollar peg, the Saudi-owned Al Arabiya television reported, amid speculation the country would devalue its currency after the plunge in oil prices.
In Iraq, market forces are complicating Prime Minister Haidar al-Abadi’s efforts to win back territory from Islamic State. Military success has been piecemeal as the government has struggled to enlist support from mainly Sunni communities in parts of the country ravaged by attacks.
The U.S. and its allies have sent arms to the Kurds in northern Iraq and President Barack Obama’s administration plans to spend another $700 million in 2016 on support for the military. The government in Baghdad, though, pays for the bulk of the operations from its budget since the Americans pulled out their troops in 2011.
Selling Dollars
A collapse in the value of the dinar would raise the cost of living for Iraqis already protesting against government corruption, power cuts and water shortages.
“The policy now is to meet the demand for dollars,” Waleed Eedi, a director general at the Central Bank of Iraq, said by telephone on Monday. The reserves won’t be depleted because of oil sales and the dinar won’t devalue, he said.
The Iraqi central bank’s fixes the dinar’s exchange rate at 1,166 per dollar and there’s pressure on the peg. As a result, Iraq’s foreign-currency reserves may drop to about $45 billion by the end of 2016, according to Exotix Partners LLP, a London-based investment firm specializing in frontier markets.
“The authorities will try to hold on to the peg as long as possible, but may be forced to devalue if pressures continue,” said Jakob Christensen, a director at Exotix.
Few Choices
The central bank has so far resisted government pressure to print money to meet anestimated$30 billion budget deficit. It announced plans for a $6 billion bond program last week, which follows about $1.2 billion from the International Monetary Fund, though neither is big enough to plug the shortfall.
That leaves the Finance Ministry with few easy choices. The government is seeking to cut spending and tackle corruption. Other options include borrowing domestically from public banks or even forcing the central bank to buy dollar-denominated bonds from the Finance Ministry, said Gunter.
“Iraq will be able to finance its 2015 deficit, but if the battle against Islamic State and low oil prices continues, Iraq will then hit a wall,” he said.
http://www.bloomberg.com/news/articl…-islamic-state
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Deny the existence of the movements of the owners of the leadership of the “rebellion” in the crowd and a military coup against the Abadi
Special scales News – Denied political source familiar, Wednesday, and there are moves to the leader of the Islamic Dawa Party and president of a coalition of state law, Nuri al-Maliki to make a “rebellion” in the ranks of the popular crowd because of the abolition of his post as first vice president Fuad Masum, with quick MP for the coalition of state law, Abbas al-Bayati to deny news stories the existence of an assassination attempt on Prime Minister Haider al-Abadi…
BGG ~ If Maliki is denying it – pretty good chance it is true!!
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Parliamentary Finance: We will host Governor of the Central Bank to discuss the “money laundering”
Brother – Baghdad – Announced the Finance Committee in the House of Representatives member Haidar Mutlaq al-Kaabi, said the agenda of the Finance Committee for today is to discuss the subject of money laundering.
Kaabi said: “The parliamentary Finance Committee today will discuss this subject of money laundering and will be hosting the Governor of the Central Bank, the chief prosecutor in the Supreme Judicial Council.
He added, “will also be on this subject Hosting Director Office of money laundering in the central bank and the official file in the Office of Financial Supervision and money laundering official at the National Intelligence Service file.
He stressed member of the Finance Committee: “The money laundering file is very dangerous and there are several parties involved in the money laundering operations of them became senior traders and owners of big money, so this file must be enabled through legislation and Accountability Act of involvement so.”
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Who rules Iraq .. Haider al-Abadi, or Qassem Soleimani?
Roudao – Erbil – At first glance, it is surprising that the number of Iraqi Prime Minister Haider al-Abadi Mtahjma dares to figure a prominent influence in the region.
Since taking Iyad Allawi ruled Iraq during 2003, and followed by Ibrahim al-Jaafari and down to Nuri al-Maliki and then Haider al-Abadi, did Frequently any news about unlike against the Iranian Gen. Qassem Soleimani and who has to face a prominent attention in the political circles of the Iraqi military leaders and even promised Iran that chancellor security in Iraq .
Iranian Gen. leads Iraqi forces
Iranian authorities announced between now and then the death of one of its officers prominent in direct battles with al Daash in Iraq. Which is a blunt intervention in Iraqi affairs and Iran took the reins of the actual initiative to lead Iraqi military units in the cities of Samarra and Tikrit, Anbar and Diyala.
Qasim Slemyana appeared more than once in the videos soon spread across social networking sites during his direct supervision on the battles in Iraqi cities.
Soleimani presence symbolizes the extent of the fateful alliance between Baghdad and Tehran, as published many videos that show Soleimani, accompanied by the President of the Badr Organization, Hadi al-Amiri clips, and Hezbollah Brigades and Abu Mahdi Mohandes fronts in fighting taking place in some parts of Iraq. To confirm the news that talk that Iran not only holds the military leadership but the entire political process subject to the orders of a purely Iranian.
Qassem Soleimani and arrived in the Iraqi city of Karbala last weekend in the Visit was told that the Iranian authorities are trying to repair the Shiite blocs that suffer so much at the moment in front of the Iraqi street, which began to rise up against the government led by the National Alliance, the Shiite policy challenges.
What happened between Abadi and Soleimani during the meeting?
The political body of the National Shiite alliance headed by Foreign Minister Ibrahim al-Jaafari held an important meeting at the weekend in the capital Baghdad and in the presence of Iranian Gen. Qassem Soleimani.
Among the most prominent of those present Nuri al-Maliki, and the secretary general of the Badr Organization, Hadi al-Amiri, and the leader of the Islamic Supreme Council Ammar al-Hakim, a representative of the Sadr movement.
News received from within the corridors of the meeting confirms that the presence of Soleimani to repair the “Shiite House” Securities and ensuring that no article of Vice President from office Nuri al-Maliki to the courts.
It is planned to provide to al-Maliki, the Iraqi courts under the pretext of being accused of the withdrawal of military forces in the city of Mosul (Nineveh province) in June 2014 which allowed for the organization of the “Islamic State” Daash incursion and control of the second most important Iraqi cities.
Iranian General and expressed his annoyance at the meeting of the reforms issued by the Iraqi Prime Minister al-Abadi, especially with regard to prejudice Nouri al-Maliki.
Modern Soleimani and his intervention in Iraqi affairs met with rejection and objection exaggerated by Haider al-Abadi, prompting the Iranian Gen. tense to leave the meeting.
Previous Abadi and courage to address the interventions Qassem Soleimani has changed many of the facts in the political process that beset the worse in the country, especially since the capital Baghdad and several Iraqi cities experiencing massive demonstrations roaming the streets demanding the Iraqi government to hold government reforms and administrative within Maossat State.
He pledged Abadi scheduled, administrative reforms within government Almaossat in Iraq in response to the demands of the public, and the prime minister has decided to cross successive periods in the recent Iraqi ministries reduced from 33 to 22 ministries as well as the reduction of state expenditures.
http://rudaw.net/arabic/middleeast/iraq/260820153
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Commercial Solicitation
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CURRENCY CODE SELL BUY
US dollar USD 1166.000 1164.000
| CURRENCY | CODE | SELL | BUY |
| US dollar | USD | 1166.000 | 1164.000 |
| Euro | EUR | 1341.600 | 1340.929 |
| British pound | GBP | 1841.347 | 1840.427 |
| Canadian dollar | CAD | 876.955 | 876.517 |
| Swiss franc | CHF | 1237.792 | 1237.173 |
| Swedish krona | SEK | 140.767 | 140.696 |
| Norwegian krone | NOK | 142.897 | 142.826 |
| Danish krone | DKK | 179.755 | 179.665 |
| Japanese yen | JPY | 9.757 | 9.752 |
| Special Drawing Rights |
SDR | 1658.378 | 1657.549 |