DINAR OBSERVER DAILY November 21st

Central: Bank deposits lost a trillion dinars in 2016

Baghdad / Range A report issued by the Central Bank, released on Monday, the decline of bank deposits by about one trillion dinars in 2016 compared to 2015

“Financial deposits for 2016, according to the Herald-Hirschman Index, decreased to 62.4 trillion dinars, compared to 63.3 trillion dinars in 2015, and the decline in the volume of bank assets from 222.8 trillion dinars to 221.2 trillion dinars. ”

The report pointed out that “most of the assets concentrated in the Rafidain Bank, which means that there is a monopoly by him will reflect negatively on Rafidain Bank and the banking system in general.” The central bank report that “most of the government deposits concentrated in the Rafidain Bank by 2392 points out of 3050 points, as is the case for assets,” noting that “the rise of banks’ capital to 11.7 trillion dinars in 2016, after it was 10.1 trillion dinars in 2015 as a result The establishment of 8 new private banks, including 7 Islamic banks and one foreign commercial bank.

Read more:  http://www.dinarupdates.com/blog/
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 Kaperoni (Dinar Guru) –   There are several articles going back a year or two that clearly state that the WTO wants to see dependence on oil drop to about 80% or so before it is viable for accession.  So in other words, Iraq needs to get the private sector started and creating some exports before they will get into the WTO.  That being said, we know the requirements so it motivates the CBI to get currency reform done.
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Chattels (Dinar Guru) –  [do you really feel this is going to happen…?]  I believe that there will be an increase in value which will inure to our benefit, but when or how long is the problem.   I try not to anticipate a date so much and view it as a long shot in my lifetime. Treat it as “found” or “futuremoney” if you will.   I would be very upset if I got out now and it happened, so…I watch, wait and hope.

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The Final Victory over “Iraq” reinforces Iraq’s International Standing

After the great historic victory achieved by our armed forces on Friday, the liberation of the district of Rawa, the last of the terrorist group “Al-Dahesh” terrorist, and the declaration of Iraq as a military editor of the “da’ash” terrorist; MPs counted that the strategic importance of these victories lies in the achievement of important objectives, Iraq has enjoyed great respect and prestige in the international community and the Iraqi neighborhood as a country that has been able to defeat the “calling” and therefore there will be a great openness to Iraq internationally, which will provide great opportunities for investment in the country by the international community,Om expelled “Daesh” full Iraqi soil and edit an official holiday and a national holiday celebrated each year.

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

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Follow us on twitter @DinarUpdates !!

follow Dinar Updates on twitterDinar Updates  –  Q & A Call  –  with BGG from Nov 8th –  8:00 pm Conference Call Phone # 641-715-3639 pin #528733

11/08 – Recorded Call Replay Link

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Cooperation with the Iraqi government achieves economic stability

The World Banking Conference for Development and Investment recommended by
Baghdad / Sabah.

The World Banking Conference for Development and Investment in the Cypriot capital of Nicosia discussed means of cooperation and coordination between central banks to control the movement of funds and make them on the real investment path that contributes to the sustainable development of all economies.

Conference recently concluded in the Cypriot capital , Nicosia, and participated in its activities of the Central Bank of Iraq and organized by the Iraqi – British Chamber of Commerce in cooperation with the Central Bank of Cyprus, saw the participation of local and international quality in order to activate international cooperation with Iraq , which has become the focus of effort the world advanced after turning the page of terrorism “Daash” and the direction of the economic field.

Read more: http://www.dinarupdates.com/blog
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URGENT SECURITY: Iraqi Forces liberate Rawa District

[Asharq Al-Awsat] Iraqi forces have been able to liberate the district of Rawa, the last stronghold of the Al-Qaeda organization in the country.

The commander of the operations of the clearance of the Upper Euphrates and Al Jazeera special forces team corner Abdul Amir Rashid Yaarallah, in a statement, “pieces of the leadership of the operations of the island and the tribal crowd liberate the entire district of Rawa and raise the Iraqi flag over the buildings.”

The dawn of the day began the process of restoring the judiciary from a daunting, with the participation of the pieces of the leadership of the operations of the island and the tribal crowd.

Read more:   http://www.dinarupdates.com/blog/
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Kaperoni (Dinar Guru) –   WTO may be several years away because they have little to export, but that has little to do with when the CBI acts on monetary reform.  In fact, it is critical to the success of investment in Iraq.  I am hopeful we will read something soon about early 2018.  (fingers crossed)  [reference Kaperoni post 11-18-2017]
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Don961 (Dinar Guru) –   Article quote:  “An Iraqi parliamentarian said on Saturday that the 2018 budget assumes the export of about 3.8 million barrels per day of oil, based on an average price of about $ 43 a barrel, well below the global price of more than $ 50.”   This is what Iraq’s oil in the budget of 2018.
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Conclusion of the risk management cycle with the participation of 29 banks

The training course on “Risk Management” organized by the Association of Iraqi Private Banks was concluded in three stages in cooperation with the Central Bank of Iraq and in the presence of the Spanish Ambassador to Juan Jose Scobar.

45 employees from 29 banks and financial companies took part in the session, which started on October 9th.

“Iraq is in a transition to the private sector and banks will play an important role,” Spanish Ambassador Juan Jose Scobar said during the closing ceremony of the training course. “These courses will develop the capabilities of the banking staff, which will be positively reflected on the bank.”

He pointed out that “25% of Iraqis have bank accounts and the project to settle salaries will increase this ratio,” explaining that “some Spanish banks have a desire to visit Iraq and develop bilateral relations.”

Read more:   http://www.dinarupdates.com/blog
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Dr. Clarke (Dinar Guru) –  …we believe that Iraq and Vietnam, are further along, and closer to, substantially increasing the value of their currency, than ever before.  So close, in fact, that we Believe and Expect Iraq, to Substantially increase the value of their Dinar, Publicly & Officially, sometime between November 17th and December 1, 2017.  We particularly like the dates of Nov. 18, 19, 20, 21, 25th, 29th. We also believe and expect, that the most beneficial dates of Exchange, will be within the First 21 days of December.   [reference Guru Dr. Clarke post 11-10-2017]
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MilitiaMan (Dinar Guru) –   Article from 04/11/2016:  “Keywords: The adoption of electronic payment tools creates competition between banks”   Quote:  “The central bank governor Ali al-Alaq said on Wednesday that the localization of salaries is a government project aimed at transforming from a purely monetary society to the adoption of electronic payment tools.”   It is my opinion that what they are doing, is exactly what they told they were doing, and now it is about timing the implementation of the PROJECT!

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Adam Montana (Dinar Guru) –    The dinar is looking good. I’m VERY excited about the current prospects!   We might be on the verge of RV right now, which many of you are keenly aware of.   Today is a great day to hold Dinar, and that’s awesome for all of us  (except you lopsters, you can all go find a pot to boil in.)
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Association of Iraqi private banks: the project to settle salaries to start to consolidate the concept of financial inclusion

President of the Association of Iraqi Private Banks Wadih al-Hanal

The Iraqi Association of Private Banks announced on Wednesday that the project to settle the salaries of Iraqi employees is a beginning to consolidate the concept of financial inclusion, considering the process of settling salaries a bold decision from the government.

The head of the Association of Iraqi Private Banks, Wadih al-Hanalal in his speech at the banking fair for the settlement of salaries, and attended by “Economy News”, “This carnival is a major start to a banking sector solid and consolidation of the concept of financial coverage to access banking services to all sectors of the Iraqi people, Citizen service and facilitating its financial operations to reach an efficient and productive digital economy. ”

He added that “the bold decision by the Council of Ministers to settle the salaries of state employees in qualified banks through the opening of bank accounts and the use of credit cards, which came under the auspices of the Central Bank of Iraq and support through the vision of his compass is the cornerstone to build a sustainable relationship between citizens and banks, where this decision will allow a large slice To benefit from modern banking services and to convert the prevailing thinking, relying on the banking compactness to fill the deficit in funding through surplus units.

Read more: http://www.dinarupdates.com/showthread.php?55446-Association-of-Iraqi-private-banks-the-project-to-settle-salaries-to-start-to-consol

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The Central Bank decides to work with bank branches in Kurdistan

Official revealed in CBI, Tuesday, from going to rework with branches of banks operating in Kurdistan.

The source for the media including news, scales/”CBI heard views from banks that have branches in provinces of Kurdistan during the meeting convened, on Monday, at the headquarters of the Central Bank, which included the problems and dangers that await them in the event of the application of decision The Bank which came in implementation of the resolution and that the Council of representatives of Iraq at the request of the parliamentary Finance Committee.

He added, “the Central Bank understands the severity to apply that decision if applied fully”, stating that “the Finance Committee during the drafting of the decision not to convert foreign currency to banks that operate in Kurdistan, added to suspend her there was a paragraph added in The resolution stresses that further in this decision that does not affect the citizen’s need and hurt her, as some work suspension with branches of those banks would hurt the simple citizen, so the Bank decided to suspend certain paragraphs of the decision of the House of representatives. ”

Read more:   http://www.dinarupdates.com/blog/
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Breitling (Dinar Guru) –…In other words we’re safe all the way up to $1.17…But if a war actually breaks out…So what’s Iraq’s plan?  Iraq wants to get to $1.17 and then they actually put on the table a different economic plan which get’s them to $3.25.  So that plan is going to be completely put to the wayside until the civil war is over with…IF it comes.  So that’s the threat if they have an Islamic civil war in the Middle East…the $3.25 rate which Iraq wants to get to.  But up to $1.17 you’re fine…I’m not saying they’re going to come out there.  They’ll probably come out way lower and build their way up.  So the turmoil in the middle east is only a threat from $1.17 on up.  Up to $1.17 it is not.  Nothing may come of it but that’s the way you have to plan for it…Here are a couple scenarios that can happen.  And I have a game plan for each and everyone of them.  Some people can stay in and risk because they have a lot more dinar.  Some people, when it revalues at whatever rate, they need to get out.  However it works out but that’s the way it  is.   So remember it’s [Islamic Civil War] a threat to the higher rate not the lower rate… [Post 2 of 2]
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Kaperoni (Dinar Guru) –   [what are we all waiting on now and what is the holdup/status?]   Same as before...laws, stability, corruption, investment.  This is a process that takes time.  They are inching closer each day.

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Follow us on twitter @DinarUpdates !!

follow Dinar Updates on twitterDinar Updates  –  Q & A Call  –  with BGG from Nov 8th –  8:00 pm Conference Call Phone # 641-715-3639 pin #528733

11/08 – Recorded Call Replay Link

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Breitling (Dinar Guru)  The best strategy you can have is to be able to put different situations in front of you and have a game plan for each and every one of them that comes down.  The top leaders in our country actually put together a strategy, they don’t just pick an A to Z strategy process.  That would mean they know everything, that they would know exactly what’s coming down the road.  And that’s not the case.  That’s never the case.  You have to know the different variables coming down the road and the different possibilities…I want to talk about the rate, there are articles coming out that we have Saudi Arabia pointing their fingers at Iran saying…these missiles coming from Yemen – that’s a declaration of war…If there’s going to be an Islamic civil war that’s going to affect Iraq right?  Absolutely it is…remember the Iraqi dinar is completely manipulated..If…IF…there is an Islamic civil war…It’s not a threat to $1.17... [Post 1 of 2  Stay tuned for the rest of the story]
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sandyf (Dinar Guru) –  “The Tariff Law – “The new tariff, which went into effect on January 19, imposes a 30 percent customs duty on imported goods coming through Iraq’s crossing points, exempting the autonomous region of Kurdistan.”   When the Tariff Law was introduced Iraq needed Kurdistan to help clear ISIS so they exempted them from the law, but in doing so stopped any further dealings with the WTO. Things have changed, Iraq can now take control and recommence the process, starting this Friday.
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World Bank: Recent reforms in Iraq pave the way for further progress

“In 2016/2017, Iraq has been able to implement fundamental changes in the local regulatory framework in two main areas: starting business and obtaining credit,” the World Bank said in a recent 2018 Doing Business business titled “Equal Opportunities for All”.”Starting a business is easier in Iraq by combining multiple registration procedures and shortening the time required to register companies. Entrepreneurs are no longer required to register their companies independently with the General Authority for Taxation, and the time required to register companies has been reduced due to the increased resources available in registration departments and the improvement of the electronic registration system.

“Iraq has been working to improve access to credit information by launching a credit registry run by the Central Bank of Iraq. As of January 1, 2017, this register included 234,967 clients and 4,877 commercial borrowers, and provided information on their prospective history over the past five years. ”

Read more: http://www.dinarupdates.com/blog/
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MilitiaMan (Dinar Guru) –   [According to an email…showing the World Trade Organization (WTO) schedule for the upcoming week:] “Informal Working Party on the ACCESSION OF IRAQ to the WTO is scheduled for 10 a.m., Friday, Nov. 17, 2017”    Now how cool it that. WTO accession on 11/17/2017… Who said next year into 2018 today? lol WE all know the indicators Iraq has given us, have this on target for completion and this is a reality…
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Dr. Clarke (Dinar Guru) –   Over the years, there has been more than 1 Plan, to substantially increase the value of Iraq’s currency, as well as Vietnam’s currency. We only talk about the Dinar & the Dong, because these are the only 2 currencies, we have interest in. We believe that all other currencies for now, are simply “Not a good investment”, too speculative, not timed right, and fraught with too many disqualifying factors, for substantial increase, anytime soon, if EVER.  We have NO strong evidence to the contrary. However, the Iraq Dinar and the Vietnam Dong is different. We believe that BOTH of these, are a VERY GOOD Gamble, and we don’t see that changing.  All of you that say, “Nobody knows the timing”, would be Wrong. There ARE those that know EXACTLY when these 2 currencies will increase substantially. They know the Day and the Rates. Make No Mistake…   [post 1 of 3….stay tuned]
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World Bank: Iraqi economy continues its development progress due to recent reforms

The World Bank confirmed Thursday that during 2016-2017, Iraq has been able to implement fundamental changes in the domestic regulatory framework in two main areas: starting business and obtaining credit.

“Starting a business is easier in Iraq by combining multiple registration procedures and reducing the time required to register companies,” a statement issued by the bank said. “Entrepreneurs are no longer required to register their companies independently with the General Authority for Taxation, The time required to register companies, because of increased resources available in the registration services and improve the electronic registration system.

Read more: http://www.dinarupdates.com/blog
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Mike (Dinar Guru)-    Article:  “Baghdad clamping down on the banks of Iraqi Kurdistan” [What does it mean the the cbi has stopped the dollar sales to Kurdistan?]   It’s another exchange restriction prohibiting the Kurd’s from having access to the dollar. Now they’ll go through the money exchangers instead of the banks. We’ll watch and see how this effects the spread…
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sandyf (Dinar Guru)-   The term “International currency” does not mean anything. There are 3 types of currency – Fully convertible, Partially convertible and Non convertible. Article 14 currencies by virtue of their status with the IMF are Non convertible. Article 8 currencies are normally able to be exchanged worldwide but at the discretion of the exchanger. When a currency becomes volatile an exchanger may well refuse to exchange as happened with the Russian Rouble not that long ago.
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Cabinet Secretary: Iraq getting a wide portfolio movement

Cabinet Secretary General Mehdi relationship expectations indicate a wide portfolio movement country turnout under recommendations that pretty Kuwait Conference to be held early next year.

And the relationship to the Prime Minister Haider Abadi in Ministry of planning documentation review standard international arbitration documents represent an essential factor in reassuring foreign companies and the launch of a major programme to revitalize the private sector and opening up investment in all provinces and Baghdad, “stressing that “The evolution of the Iraqi economy depends on the development of the private sector”.

Read more:  http://www.dinarupdates.com/blog
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Enorrste (Dinar Guru) –   Article:  “A simulation of the dinar exchange rate linked to a basket of currencies”   We do not want the dinar tied to a basket of currencies.  We want a freely floating currency.  Let’s hope no one pays any attention to this guy.
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Walkingstick (Dinar Guru) –   [Saturday is the 11th;   Frank [Guru Frank26] likes Saturday, going into Sunday;  Sunday, the 12th, is 3 days before the U.N. Operational rates are posted …]   A country… may change, their operational rate/s of exchange at any time…The UN publication of dates is not a reflection of when a country may or may not adjust their operational exchange rate/s, accordingly…
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The Central Bank is holding its third annual conference next month to discuss financial stability in Iraq

The Central Bank will hold its third annual conference next month under the title of the role of the Central Bank of Iraq in achieving financial and economic stability.

A source in the Central Bank of Iraq, “The Economist News”, “The Central Bank will be held on the ninth and tenth of December next year’s third annual conference under the auspices of the governor Ali Alalak,” adding that “the conference will discuss the sustainability of public debt and financial stability in Iraq and achieve the process of inclusion The performance of banks and mechanisms to stimulate the financial sector through monetary policy tools and highlight the financial merit of the banking sector.

Read more:  http://www.dinarupdates.com/blog
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sandyf (Dinar Guru) –   …from a well known guru…  “The CBI has said something about a rate of $1.15 in-country to go into effect in 72 hours;”  ” Yes, but they will probably have a different rate in-country, just like the Iraqi dinar has a different rate structure in Iraq as opposed to overseas. ”  If the person concerned had done their homework they would be aware of a factual situation of different exchange rates in and out of the country.  Introducing new currency codes is not an overnight event as accounting software companies must amend the software to accept the new code. In the case of redenominations it has normally been done about four months before introduction.  If Iraq, or any other country, is to have a different rate inside to outside the country then it is not going to happen any time soon.
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Aggiedad77 (Dinar Guru) –   Article:  “Baghdad looks to take control of KRG oil”   Quote:  “The government’s control of oil wealth does not mean a certain national party will monopolize the sector. All oil resources will be fairly distributed among the people.”   They speak of controlling the KRG oil, all of it from the sound of it…and quite honestly this could very well be the most intelligent move that Baghdad/Abadi has made to date…this will IMO insure the HCL is given equally to all the people of Iraq if it is given to one…The oil within the nation of Iraq belongs to all citizens and they should all share accordingly…IMO….the BEST is coming..
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The Central Bank of Iraq: The currency outside the banks amounted to more than 40 trillion dinars

The Central Bank of Iraq, the currency outside the banks amounted to more than 40 trillion dinars.

The central bank said in a report that “the currency outside the banks amounted to last March 40.18 trillion dinars,” noting that “the currency outside banks amounted to 37.5 trillion dinars in March last year.”

He pointed out that “the capital of commercial banks during the first quarter of this year registered a rise of 25.3% compared to last year to reach 12.9 trillion dinars,” noting that “private banks constitute the largest proportion of capital banks to reach 9.7 trillion dinars and government banks with capital 3.3 trillion dinars. “

Read more:  http://www.dinarupdates.com/blog/
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Mike (Dinar Guru) –   Article:  “Central Bank: currency outside banks amounted to more than 40 trillion dinars”   Iraq has roughly 56 trillion in M0 money supply with 40 trillion outside the banks. It’s time for a change, pass the deposit law and the folks might begin coming back. For now, they trust and prefer their own security over the banks.
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Apmcrx (Dinar Guru) –   Article:  “A simulation of the dinar exchange rate linked to the basket of currencies”   …article directly from the CBI webpage…THIS IS STRAIGHT FROM CBI AND THEY ARE TELLING YOU THE EXCHANGE RATE!!!  …PDF document…is telling you the dinar exchange rate compared to the currency basket…from .90 to $1.15 IQD/USD…   Now, why the CBI is “simulating?” Because they want to go international and know the real IQD/USD exchange rate IMO.  Who suggested or proposed the peg to a basket of currencies?  IMF, World Bank, USA as we have seen the articles demanding this agencies to Iraq implementation of reforms IMO by the end of this year.
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Don961 (Dinar Guru) –   Article:  “A simulation of the dinar exchange rate linked to a basket of currencies”  Just a simulation study…should the dinar get pegged to a basket of world reserve currencies … as opposed to staying ‘binary” (linked/pegged only to the USD)…shows how the exchange rate of the iqd would be affected should it be put into this world currency basket…  Just doing such a study kinda shows the belief that the iqd perhaps is being considered/projected to join such a strong basket of world currencies … sounds good to me  % allocated to iqd in this basket would depend on how strong the currency will be compared to the others … at a given point in time…will it bypass the pound or the euro? … sure … why not  …that would be cool wouldn’t it…imo.
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Mike (Dinar Guru) –   Article:  “Iraq still under the category of bankrupt countries?”   Gee whiz, this guy sounds so negative:   “He added that “the budget reveals beyond doubt the inability of any realistic treatments to find development, even if it is a formality to open future prospects to reduce dependence on oil revenues and stop domestic and external borrowing, which has no horizon to stop it and the payment of accumulated it puts the Iraqi economy in the near future on the verge of bankruptcy.”  We have waited, literally, for years in hopes that Iraq would change and embrace the open market economy and allow the dinar to grow in value. And all we’re getting is the same old budget where expenditures exceed revenue. The existing political class is failing the Iraqi people. Like Mark Twain said, “Politicians and diapers must be changed often, and for the same reason.
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G-Lin (Dinar Guru) –  …7 years ago I never imagined this would be a long term investment. I think most of us thought it was going to be a get rich quick thrill. After I toughened up a bit I realized the reward will be worth the wait. I still see this investment with a glass half full attitude. And that will not change unless something drastic were to happen to Iraq, and the economic powers of the world will not let that occur imo. Iraq is too valuable. It is the diamond in the rough for U.S., Russia, Europe, China, and all of Asia and the M.E.  Follow the money.  Maybe just a wee bit longer
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Iraq: World Bank grants $ 400 million for reconstruction

The World Bank on Tuesday approved $ 400 million in financial aid to help rebuild Iraq after the liberation of many cities from the control of the Da’ash organization.

The World Bank said in a statement that the aid package aims to “support the recovery, reconstruction and rehabilitation of priority infrastructure facilities in order to restore the provision of public services in newly liberated Iraqi areas from the grip of a sympathetic organization.”

The aid is additional funding for the $ 350 million emergency development project in Iraq, approved in July 2015 and being implemented in seven cities in Diyala and Salahaddin provinces, the statement added.

The additional funding is expected to expand the geographical scope of the current project activities to include other cities liberated from the control of Daed in the provinces of Salah al-Din and Diyala, in addition to areas in Anbar, Kirkuk, Nineveh and Dahuk of the Kurdistan Regional Government, according to the statement.

Read more: http://www.dinarupdates.com/blog/
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Follow us on twitter @DinarUpdates !!

follow Dinar Updates on twitterDinar Updates  –  Q & A Call  –  from BGG & Co – tape from 10/27 released tonite 641-715-3639 pin #528733

10/31 – Recorded Call Replay Link

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Aggiedad77 (Dinar Guru) –   …So how close are weas close as your breath is to your lungs...IMO.
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Frank26 and Delta (Dinar Guru) –   Article: “A simulation of the dinar exchange rate linked to a basket of currencies”  “Dr. Ahmed Abrehi Ali…:”  Quote: “It is proposed that the dinar be pegged to a basket of major currencies, international reserve currencies, dominant in foreign trade and capital markets, United States Dollars.”    Dr. Ahmed Ibraihi Ali…Member of the Board!!!  Family you do not realize a few days ago the CBI gave you what you wanted…some of you saw it..most of you missed it..you have no idea the ground that you are standing on right now…
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Iraqi sovereign fund

Government official trends in economic reform are becoming clearer and clearer, as we see through international institutions, which contribute in practice to their loans and grants to make Iraq a better place in the face of the destruction of the Da’ashi and the consequences of projects destroyed by corruption.

The Iraqi sovereign fund may be considered by virtue of the fact that it is currently under establishment and may not be fully in accordance with international economic standards. However, it will be ready and highly flexible in the service of the national economy in order to prevent fluctuations in oil prices and free the Iraqi economy from dependence on international prices and negative effects on the budget. in general.

Read more: http://www.dinarupdates.com/showthread.php?55331-Iraqi-sovereign-fund
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UN calls on Iraq to join ICC

The Office of the United Nations High Commissioner for Human Rights (OHCHR) said on Thursday that the atrocities committed by a militant organization during the battle to liberate the Iraqi city of Mosul were “international crimes” that Iraqi courts currently have no jurisdiction to consider.

The United Nations has asked the Iraqi authorities to conduct a separate investigation into the victims of the air strikes of civilians and any violations of Iraqi forces in the battle of Mosul, Reuters reported.

The organization stressed that the Iraqi courts have no jurisdiction over international crimes such as genocide and Baghdad show seriousness about bringing the perpetrators to justice.

Read more: http://www.dinarupdates.com/blog/
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Guru G-Lin (Dinar Guru) –  Article:  “CBI A simulation of the dinar exchange rate linked to a basket of currencies ”  …couple this simulation report with the WTO art…  “{WTO} Trade looks at ways to cooperate with ITC”   Quote:  “ITC is one of the most important international organizations supporting and supporting trade facilitation and development of small and medium enterprises and export development.”   Interesting timing and at least they are headed in the right direction. Some smart people throughout the years have stated they felt like Iraq should have a currency change before full membership accession into WTOWe shall see.
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G-Lin (Dinar Guru) –  Quote:  “A short search to experience the simulator about linking the Iraqi dinar to a basket of currencies with weights varying between 50% and 65% of the dollar and other currencies remaining price (Dr. Ahmed Ali Abrihi)…”  What this looks like to me is simulations or experiments in comparisons of the dinar as a floating rate {basketball} I think that is what that means, versus fixed rate in a currency basket. These simulations were done beginning Jan. 1st 2017 to present. They paired the dinar against all of the currencies that are used in Iraq. They experimented with the figures as floating and fixed. And all of the data has been presented to the decision makers in CBI. That’s my take. I’m excited that this was posted on the CBI site and they seem to be giving those two choices.   I personally would take either one.
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Adam Montana (Dinar Guru) –   [I read…that Barzani is retiring, how will this effect our investment?]  He said he would be stepping down as of…(1 November 2017), and the reason was basically disappointment in the failed referendum. This may end up weakening the Kurdish resistance to full cooperation with Baghdad, which might just be the leverage needed to pry open the HCL floodgates.  Let’s hope for some good news in the coming days!
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Kurdistan Parliament: From today the post of president of the Kurdistan region is vacant

Baghdad Mawazine News – The Kurdistan Regional Parliament announced on Wednesday the entry of a decision to withdraw the President of the region Massoud Barzani to take effect.

MP Bari Mustafa said in a statement to “Mawazin News,” that “from today the position of the President of the Kurdistan region is vacant, and powers divided on the three presidencies of legislative, executive and judicial within the region.”…

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

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Frank26 (Dinar Guru) –   There is an A [Abadi?] Speech coming…That contains much and art8 with ch7 in it’s core…Where IMO an RI will be concurrent with or the Fact after if. These IMO are the Steps that will trigger off a Chain Reaction of Explosive Info/Advancement of the IQD’s MR…Very Quickly.
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SandyF (Dinar Guru) –    One thing you can take to the bank is that if the Iraqi currency is ever redeemed following a significant rise in value, the exchange will not be ‘normal’.
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Barzani steps down reopening Kurdistan crossings with Iran

Baghdad – Journal News – The Middle East Bank Monitor reported on Iran’s plans to reopen its border crossings with the Kurdistan region in the coming days.

According to the report, which was translated by «Journal News», the decision came after the announcement of the former Kurdistan region, “Massoud Barzani,” the decision to step down from the government, and submit the resignation tomorrow, the first of November.

Iran’s closure of the border after the Kurdistan Regional Government (KRG) insisted on holding an independence referendum when Iranian General Mohammad Baqeri said that “the Kurdistan government’s insistence on secession from Iraq will lead to a bloody war between the region and Iraq as well as neighboring countries like Iran and Turkey.”

Read More: http://www.dinarupdates.com/showthread.php?55262-Barzani-steps-down-reopening-Kurdistan-crossings-with-Iran

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MilitiaMan (Dinar Guru) –   Article:  “During his chairing a meeting of the Committee of Diwani Order No. (54) for the year 2017”  Quote:  “The Administrative Agent stresses the importance of completing the work of the Reform Committee and addressing the indicators of the assessment of Iraq in the annual report 2017...”   This is valuation, assessment, it is in ones best interest to be paying attention to it..
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EHankins (Dinar Guru) –   …IT SEEMS VERY QUIET HERE… ALMOST INTENTIONAL AS IF SOMETHING IS ABOUT TO EXPLODE AND TO CONCURRENTLY BRING MANY MANY THINGS TO LIGHT…I COULD BE WRONG…GUESS WE’LL WAIT AND SEE.
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Enorrste (Dinar Guru) –    “Achieving Growth in Contexts of Great Challenge: The Iraqi Private Banking Sector”  The very fact that this conference exists is a good sign.  It shows that all parties are aware of the problem and are attempting to work out a solution.  The issue of whether any bank coming into a correspondent relationship will find it likely that they will make money is a serious concern.   …At the same time there was a clear understanding by one of the members of the “wild west” theory that KAP [Guru Kaperoni] and I have talked about for years.  She said almost the same thing we have been saying all along, namely that once the movement begins it will snowball and lead to very rapid economic growth in Iraq.  It is the beginning of the snowball that is the current problem.  Several members indicated that the laws and regulations are now in place, but that implementation is what is lacking.  This, to me, is a positive step.  I think that this is a lot like the snowball affect that I just mentioned:  it just needs to get started.  Once it does the confidence level will rise in bank usage.  Once that happens foreign banks will want to get involved as well.  [post 1 of 3….stay tuned]
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 Enorrste (Dinar Guru) –   It is a positive sign to me that all of the representatives on this panel recognize the liquidity problem and understand that getting the money out of the mattresses is the solution.  I would venture to guess that the CBI has a plan to push this process along, even to the point of forcing people to use their mattress money if necessary.   As with my other comments above I believe that this snowball affect will be the most important, once it begins.  The statement by one of the Iraqi bankers…was quite revealing, namely that he appealed to the CBI to just given the banks a checklist of things that need to be done to bring them into full compliance.  I would wager that this proposal will be acted upon quickly by the CBI, once it is presented to them, and that full compliance across the board will occur shortly thereafter.  One thing is clear: all of the Iraqi bank representatives expressed a deep desire to be fully compliant.  The statement was simple:  “Just tell us what to do and we will do it!”   [post 2 of 3….stay tuned]
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MilitiaMan (Dinar Guru) –   Article:  “Official reception of the Prime Minister Dr. Haider Abadi at the Turkish Government Palace in Ankara”   …it’s timing, it’s placement. …One more stop for Abadi with Tehran with an olive branch in offering from Iraq, Saudi Arabia, the region in reconciliation to move forward in harmony, in friendship and not to mention, profits for all…
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Consider mechanisms for establishing sovereign funds that achieve sustainable development

*In a workshop for the Baghdad Economic Forum in cooperation with the Secretariat of the Council of Ministers.

The Baghdad Economic Forum in cooperation with the General Secretariat of the Council of Ministers folded the second episode of a continuous series aimed at finding real development mechanisms that promote all sectors. The two sides discussed in the presence of a group of parliamentarians, economists, specialized institutions and international embassies on the subject of “sovereign funds in Iraq and their role in economic development”. Challenges that limit the activation of projects and the implementation of projects in all cities of Iraq.

The workshop, which was conducted by economist Bassem Jameel Antoine, began with the speech of the secretary-general of the Cabinet, followed by Acting Representative Karrar Mohammed Abdul-Zahra. He said: “The need for sovereign funds in Iraq stems from the possession of natural resources that provide a financial surplus. Saving the surplus and investing it in the process of development and safeguarding the rights of future generations.

Read more: http://www.dinarupdates.com/blog/
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Adam Montana (Dinar Guru) –   Regarding Iraq’s influx of eager business countries/people/companies… of COURSE there are suitors lining up! Iraq is on the way up. It may take a little longer, or it may happen today or tomorrow, but it doesn’t take a genius to see that they ARE on the way up.
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Adam Montana (Dinar Guru) –   There is a current agreement amongst a majority of OPEC participating countries designed to control the oil market in the supposed interest of keeping the global economy. I’m not presenting a specific conspiracy theory on that thought, I’m just saying “supposed” because there’s always some kind of backdoor deal or subterfuge going on with anything related to politicians!  That’s also not to say that the current OPEC agreement is a bad thing. I feel like it was a good move on many levels, but let’s move on.  The current OPEC agreement – and keep in mind, this is a sort of informal, kind of semi-official, non-binding-to-Iraq, completely-beneficial-to-Iraq – yes, that OPEC agreement continues to run a course very attractive to Iraq’s interests. Bottom line – Iraq’s still sitting pretty in it’s ability to potentially skirt the current production limitations and they wouldn’t even feel the need to apologize for getting a nice break. Important date regarding the OPEC agreement: November 7, Vienna Austria.   [post 1 of 2….stay tuned]

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G-Lin (Dinar Guru) –   Article:  “A new project to provide electronic payment services to local banks”  “Coordinating Council”  Quotes:  “while confirming the company portal of Iraq Electronic Financial Services, it is certified according to international standards and instructions of the Central Bank of Iraq, and sets the best global financial practices between De Iraqi citizen to facilitate his life and work for the benefit of financial institutions and bodies of the national economy.”  “Iraq and Saudi Arabia are two major economic powers in the world to acquire the wealth of the two sides…”  These are exciting arts. This is occuring now not in the future.
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An Iraqi banking delegation discusses in the United States opportunities for cooperation between the two parties

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.

The Association of Iraqi Private Banks said in a press statement that “a delegation of 17 private banks, Rafidain Bank, industrial and executive director of the Association of Private Banks Ali Tariq and a number of advisers of the Association held a meeting at the Center for Strategic Studies in Washington with a US delegation including the US Treasury and US banks and OPEC And American financial institutions and a number of employees at the US Embassy and were during the meeting discussed the economy of Iraq and the challenges facing it.

She added that “the meeting discussed the development in the Iraqi banking sector, especially in the past five years and strengthen cooperation with Arab and foreign banks in addition to plans for the reconstruction of liberated areas and development in the oil sector.”

Read more:   http://www.dinarupdates.com/blog/
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Mike (Dinar Guru) –   Article:  “Abadi defends role of Iranian-backed paramiltaries at meeting with Tillerson”  Quote:  “In his opening remarks at the meeting with Tillerson, Abadi said Popular Mobilisation “is part of the Iraqi institutions,” rejecting accusations that it is acting as an Iranian proxy.”    These articles are the reality of Iraq right now, it ain’t pretty but it’s the facts. Abadi’s reluctance to remove the Iranians from Iraq is a huge indicator for who’s really in control of Iraq. Tillerson told them to go and Abadi told him to go pound sand. This article is an illustration for why we’re still sitting here waiting for Iraq to move towards an open market economy, it’s because they do what Iran tells them to do, not the US or EU. Hopefully Iran will allow the Iraqi people to move towards an open market economy and things will change for the dinar, but in the meantime, articles like this help answer the question;
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MilitiaMan (Dinar Guru) –  Article quote: “Awaji Press learned from her sources that Prime Minister Dr. Haider Abadi is leaving Amman to Baghdad now”   Nothing like putting the final touches on to an Iraq Marshal Plan..
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MilitiaMan (Dinar Guru) –   Article:  “US Treasury: We pay attention to the development of the private banking sector in Iraq”  Quote:  “The US Treasury announced on Friday that it is paying great attention to the development of the private banking sector in Iraq, indicating that it is optimistic about the opening of relations between Iraqi banks and US banks.”   …this is a grand slam! Connectivity to the UST.. “on set 1” Already started…
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The Central Bank calls on the IMF to intervene in the file of correspondent banking district

The governor of the Central Bank of Iraq on Sunday, the International Monetary Fund to intervene in resolving the issue of boycotting some of the global banks Correspondent with Iraqi banks, stressing Iraq’s commitment to implement its program with the IMF.

“The central bank appreciates the work of the International Monetary Fund team and the flexibility of the policy of advising, as it is important to reach this degree of flexibility and understanding of the exceptional Iraqi situation where it stands out,” Al-Alak said in a speech during a meeting with the Director General of the International Monetary Fund and Central Bank Governors in Washington. The importance of this matter when it comes to balancing the financial situation with social considerations. ”

“Iraq is appreciating if the Middle East section of the International Monetary Fund can provide best practices and facilities and dialogue with shareholders to address this issue as soon as possible,” he said.

“Despite the difficult circumstances, the Iraqi government is committed to implementing its program with the International Monetary Fund,” he said. “I expect that the agreement will be reached on the third review under the program.” He added that “Iraq, like other countries in the region, has a large number of refugees and displaced persons, And it is useful that the IMF’s Middle East section provides assistance in assessing the economic impact associated with it. It is also important that this assessment be made clear in staff reports so as to give the international community an opportunity to provide assistance. ”

“Iraq thanked the government and people of the Kuwaiti government for their valuable support for Iraq, including hosting the Iraq reconstruction conference in the coming months and thanked the IMF for the technical support it will provide to the conference itself,” he said.

Read more:  http://www.dinarupdates.com/blog
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Adam Montana (Dinar Guru) –  [According to news outlets, Kurdish forces didn’t put up a fight for Kirkuk.  It’s reasonable to assume that the Kurds didn’t put up a fight because Kirkuk is not within Kurdish Region of Iraq and also because, in the past, Abadi said that the Iraqi government would eventually come back for Kirkuk.]  I believe the issue of “Kurdish Independence” has been successfully put to rest for the time being. The Kurds are certainly not in a position to successfully separate from Iraq, so they may as well open the doors to resolving Article 140 and the HCL, which is exactly what we are seeing.
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G-Lin (Dinar Guru) –   Article:   “Saudi diplomat: The next stage will witness huge work with Iraq”   Quote:  “The Saudi Royal Airplane arrived yesterday evening in Baghdad with a large Saudi delegation, the largest after a 27-year break between the two countries, to participate more actively in the Baghdad International Fair in its 44th session, which begins on Saturday.”   This is really a big deal. It shows how much more progressive Abadi is versus Maliki. Saudi is about 85-95% Sunni. Maliki hates Saudi. It wouldn’t surprise me to see an invitation to the GCC extended to Iraq in the near future. 
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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.
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Tillerson describes the establishment of the Coordination Council between Iraq and Saudi Arabia job step

The American Foreign Minister Rex Tillerson, Sunday, pleased to establish Iraqi-Saudi Coordination Council, describing the action as “important step” for both countries to strengthen Iraq’s relations with Arabic countries.

Tillerson said at a joint press conference with his Saudi counterpart Adel Al-jubeir in Riyadh, “Coordinating Council as a step towards strengthening the Iraqi Government, which requires renewal of the historical relationship between Baghdad and neighbouring countries”.

He said the Council would have a “great importance in promoting Iraq’s relationship with the rest of the Arabic countries.

Read more: http://www.dinarupdates.com/blog/
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Follow us on twitter @DinarUpdates !!

follow Dinar Updates on twitterDinar Updates  –  Q & A Call  –  from BGG & Company – Oct. 20th – 8:00 PM  CST 641-715-3639 pin #528733

10/20 – Recorded Call Replay Link

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G-Lin (Dinar Guru) –    Article:  “An Iraqi banking delegation discusses in the United States opportunities for cooperation between the two parties”    …it has been a good news week. The meetings in N.Y and Ali sitting down with the U.N. was historic.  A first.  Iraq is a very important country to the entire world.  That tells us a lot. 
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 Kaperoni (Dinar Guru) –    Article:  “Iraq announces the electronic gate near the completion of the infrastructure and the launch of commercial services building”  Quote:  “The scope of its work, issuing prepaid cards through the global payment companies, owning and deployment of payment points and ATM network as well as providing various services to banks and facilitate the payment of bills and collection process.”   I hate to say it but this seems like a work a round (using prepaid cards) from the goal of opening the banking system to the worlds financial system.  Time will tell.
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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.

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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 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.

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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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