Kaperoni (Dinar Guru) – [Man, if they can’t get it done by the first of the year, I’m just thinking they can’t get it done. It’s just one thing after the next with them.] I think we’re going to see the change occur once the IMF Article IV Consultation takes place that will be not only a review of the entire banking system in Iraq but acknowledgement of progress and encouragement to move forward.
Kaperoni (Dinar Guru) – …great articles this week including the one from Alaq confirming CBI compliance…My favorite article of the week …is titled.. “Movement of capital” confirming the desire to bring large sums of money into Iraq from outside investors.
tman23 (Dinar Guru) – I do recall the words of the famous dinar world DR. SHABIBI…The man said lifting the 3 zeros can not take place in the middle of the year or the middle of a quarter, IT MUST TAKE PLACE AT THE START OF THE NEW YEAR…Not my opinion, not my words, but the words of Shabibi… I think you will see the new notes come OCTOBER…. and 2019 they will lift the 3 zeros… Iraq is in no hurry for anything …. IN CASE YOU HAVE NOT NOTICED!!…they will come out with new lower denoms which have to have a value greater then 1/10th of a penny otherwise they are useless and worthless… The new currency might float ALONG WITH THE OLD CURRENCY… BUT NEVER EVER NEVER WILL THE OLD CURRENCY FLOAT WITH 3 ZEROS INCLUDED IN THE NOMINAL VALUE…
Adam Montana (Dinar Guru) – [Did Iraq have a reverse LOP/Neutral event, Way back when they printed new currency for Iraq, added zeros to the currency, and moved the decimal point over a few digits on the value. Their money is not worthless. When they exchanged their money in, say 1 dinar, they got back a lot more dinar notes with more zeros but with less value. Sounds like the opposite of a LOP to me. Please don’t throw me in the LOBSTER TANK.] I wouldn’t call that a lop – it was a devaluation. Their currency, and their “stock” in the world, simply lost value. A revalue upwards will simply recapture that value. Not all of it. But a significant amount. And that’s why we are here.
Mnt Goat (Dinar Guru) – …the Iraqi dinar…will be “reinstated” back on FOREX with a rate conducive to before it was down-graded through years of sanctions according to a value around from the new SDR basket it will be pegged to. It will also be put back on a “managed float” and the market place will drive the rate upwards. The Iraqi dinar…will not “revalue”. Yes, the rate will increase from around what it was prior to the war (with equity) and this will be a new value but not a “revaluation” in the truest sense from the technical definition of the IMF in dealing with currencies.
Mnt Goat (Dinar Guru) – You can call it whatever the hell you want but technically it’s not a revaluation in the eyes of the IMF. …The CBI will take the dinar off the program rate and de facto peg to the USD and re-peg it to the SDR basket. It is in this process it will get reinstated back on FOREX and be launched with a the new rate. Once the dinar is reinstated and put on the “managed float”, it could go anywhere as Dr Syni Shabibi said it could withstand a market a rate of up to $16.00. He NEVER said that the Iraqi dinar would revalue at $16.00…
Whining and complaining isn’t going to change things one iota. Try focusing on the positive. I can tell you when I started following this way back, we would go months sometimes before we saw anything positive. Lately we’ve seen more positive movement forward than ever before. There are days when all the researchers here at Dinar Updates can barely keep up. I’m sorry for those of you who may of bought into this thinking it was a guaranteed ticket to overnight riches. That’s not how investments work. What we try to do here, and I think I can speak for most, is to portray the big picture. It’s not always what some want to hear but… reality is what it is.
Frank26 (Dinar Guru) – Iraq still has a seated government and Abadi still the PM. IMO the smooth transition from the same government to the new government will have the same affect…the same results. A newly seated government, less Malaki, Iran and Iran’s General’s corruption with be a “suitable environment” to RI their currency…as Abadi and the CBI requested. And so did Dr. Shabibi. The Iranian influence is disappearing. With the government. With the citizens. The Iranian Generals are losing their ability to protect Malaki. Malaki as no longer a VP is no longer protected with immunity. Arrest warrants await him. Malaki will fight along with his fake media to the very end. If given a Parliamentary seat it’s only to keep the peace. IMO, Malaki’s power is gone. No longer influential or able to use fear tactics to support his sugar daddy Iran. In the next two weeks, somewhere IMO, around the 18-19 to around the 25th we should have a seated government.
Chattels (Dinar Guru) – I find myself favoring a new terminology for the liquidity event we hope for as value and return from our investment in the IQD. My new word for it is ” Reset “. I no longer believe in an ” RI or RV “. I am still concerned about a ” Lop” and arguably all currencies ” Float “. Perhaps a ” Reset ” is some workable form of all of the foregoing? My active thought is that we cannot rule out anything and must allow for that which we may not like. In any event we must all find a theory which sustains us and the hope of a good outcome. If we do not finish the race we cannot know whether there will be a prize for participation at a minimum, eh?
Kaperoni (Dinar Guru) – Maliki he’s had his hand in a lot of troublesome activities over the years including stopping monetary policy reforms in 2012 so it wouldn’t surprise me if he was involved in what’s happening now. To be honest I wouldn’t put it past Maliki being involved in the escalations and protest it prevents the formation of a government which he was going to be omitted from and more importantly stops currency reform in its tracks. …unfortunately it looks like we’re going to be several months away at best due to the political disdain amongst each other.
US, Russia, Britain will protect oil companies in Iraq
Observers said that the United States, Russia and Britain will launch a military operation to protect the oil companies operating in Iraq amid ongoing protests witnessed in a number of provinces.
They pointed out that the three countries would intervene militarily if their oil companies or their employees were targeted by Iran Militia in Iraq and Syria (IMIS) terrorists.
The observers stressed that the Iranian plan regarding the isolation of Basra and targeting oil companies there has become well known.
On July 8, protests erupted in Basra against shortage of jobs, electricity, water and basic services.
Observers said that Iran seeks to target British, American and Russian companies in southern Iraq, noting that the three countries will intervene to protect their companies that are being currently targeted by the Iranian Revolutionary Guard Corps (IRGC).
They added that protesting in front of oil companies and blocking access to them proves that Iran is determined to spread chaos in Basra, Maysan, Dhi Qar, Najaf and other Iraqi provinces.
The observers said that Iran felt that Ahwaz would hold mass demonstrations this summer, so it turned the attention into Basra.
They added that IRGC’s existence on the Kuwaiti border aims to threaten the security of the Gulf and its oil fields, stressing that mullah’s regime is trying to implement a plan that aim to withdraw about 15 million barrels of oil from the markets and stop oil exports.
Observers who spoke to The Baghdad Post said that Iran stands behind the protests witnessed in southern Iraq.
They said that Iran is not only responsible for cutting electricity and water in the south, but it also inciting Basra’s residents against oil companies operating there because they are not recruiting them.
The observers pointed out that Iranian President Hassan Rouhani threats that process of preventing oil companies in the Gulf from working and exporting their oil would start from southern Iraq prove that Iran is standing behind the crisis.
They called on the government of Haider al-Abadi to respond quickly to the demands of the people of Basra in order to not give Iran the chance to use the situation to destroy Iraq.
Analysts stressed that Iran is playing a “dirty game” as the mullah’s regime has promised to spread chaos in the region to disrupt oil sales in the Gulf.
Observers called on Haider al-Abadi’s government to protect Iraq from the international intervention to protect foreign oil companies, as well as thwarting Iran’s plan that seeks to spread chaos in the region.
Article Credit: Thebaghdadpost.com (Special Thanks to Charles Bright)
Kaperoni (Dinar Guru) – I wouldn’t look for a resolution in this election matter anytime soon. Maliki is now threatening a civil war if he’s not the new prime minister and all of the political blocks are against him having participation in any way. Reading the news today it clearly implies it’s going to get worse before it gets better. The protest, riots, and large amounts of corruption including this recent statement that the State of Law the most corrupt political bloc in Iraq this isn’t going to get resolved soon. And unfortunately all of this chaos which includes Iran’s economic failure, the protest are going to have a substantial effect on monetary policy including the spread. It is now highly likely that over the next several weeks Iraq will fall out of compliance if this escalates. The internet in Iraq has been shut down in an attempt to minimize any kind of escalation in these protests. This also means that some of the media is now offline.
Mnt Goat (Dinar Guru) – …Iraq has completed 7 out of the 9 provinces they must perform the e-counting of ballots. The remaining 2 are expected to begin on Saturday. This is just about at the mid July mark, as I told you way back in early May and again and again in June that mid July would be the best timeframe and earliest timeframe to begin to think about any reinstatement of the dinar happening. We are not there yet and this is moving really close to this timeframe.
Adam Montana (Dinar Guru) – PM Abadi is a major component to the government, and YES – Abadi is still the Prime Minister, despite early reports that the votes were swinging against him. How long that will hold is anyone’s guess right now, but for the time being he IS the acting Prime Minister, and here’s what he’s doing according to his Twitter feed:
8 hours ago: Abadi in Basra meeting with security commanders.
5 hours ago: Abadi meeting with Asaad Al-Idani (Basra Governor)
5 hours ago: Abadi meeting with Director-General of South Electric Distribution Company
3 hours ago: Abadi meeting with Director-General of Basra Oil Company
1 hour ago: Abadi meets with tribal/community leaders in Basra.
…There’s a reason why I highlighted where Abadi was 3 hours ago…Who knows where Basra is and why it’s important? I’m getting reports that HCL is closer than the recent “news” is letting on. [Twitter times are off due to posting times]
Ending manual counting in Erbil
Khandan – The hand counting and counting of the ballot boxes that have appeals and complaints in Erbil has been completed. The hand counting and counting of 100 boxes has been completed and 56 boxes have been transferred to Baghdad.
The correspondent of “Khandan”, that the appeals were submitted in advance on 219 ballot boxes in Arbil, and yesterday the counting and manual counting of 97 boxes, and today was completed counting and manual counting of 33 boxes.
The process of counting and sorting the manual partial began in Arbil on Thursday, while the operation boycotted four Kurdish parties, the Alliance of Democracy and Justice and the Movement for Change and the Islamic Union of Kurdistan, and the Islamic Group.
These parties have already boycotted the process of manual counting and sorting in Sulaymaniyah, demanding the total manual counting and sorting.
Article Credit: xendan.org
BGG ~ All credible reports on the recount result until now, have indicated very little or no deviation – and no fraud or vote tampering. Which leaves us wondering what all the squabble was about? Who was making all the noise? Why? Why the attempts to burn ballots and impede the count? All very interesting questions…
Read more: http://www.dinarupdates.com/blog/
Breitling (Dinar Guru) – The price of oil when from 74 to 70 today. I might have changed. No one needs to revalue today. But they are going to have to. And that’s the language that they’re using. So very remarkable. Some very interesting stuff…90% of what Iraq makes is from oil. It’s coming down. It’s going to revalue. The market will change…Iraq is going to have to add value to their currency. Remember it’s artificially low. They want open access to their currency. That’s their goal. That’s what they want to do. And they’ll get there.
Mnt Goat (Dinar Guru) – The news now is all about the re-counting of the ballot results from the May 12th elections. ...Yes, yet another intentional act to delay the progress of the country. Why are they doing this?Many of these gurus will tell you it is orchestrated by Nori al-Maliki and his gang to stall for time, hoping to delay the results long enough so he can put together his own majority coalition. I agree with this notion but be assured it is not going to work for him and is now only backfiring on him, as the citizens will surely find out who orchestrated this fiasco in the future and who stalled the formation of the govt. This will happen when the re-counting results show no significant changes. …So this is a very dangerous tightrope Maliki is now walking but I think he has been out maneuvered and is losing his leverage by Sadr.
Mnt Goat (Dinar Guru) – …Remember that we know that everything from the CBI standpoint if already completed and all they need is a “suitable environment” to continue with the “project to delete the zeros”. They told us there was FRAUD and MANIPULATION that prevented the project from moving forward. We know this is in dealing with the currency auctions and involved almost 1/3 of the parliament members and their banking and money laundering schemes. So it seems logical that if we want to know where the CBI now stands on the RV, why not look at what is going on to rectify these issues. …Many of these culprits will lose their immunity and thus can be served their arrest warrant on charges of corruption, but only after the election.
Why sell Dinar?
Simple answer: I’m selling – so I can buy. I sell so that we can increase holdings and help everyone along the way. We keep what we can afford to. That’s the general concept anyway.
To answer the ding-a-ling critics – we’re aren’t “selling out” – we’re “buying in”. Which all started by just trying to help a few folks in a tough position.
Sometime back we were able to, because of our unique position – help some folks in a big way with their currency. This was when the various Dinar dealers were PUNISHING people on their buy-backs and not passing much on to buyers.
We helped. At a time when the advertised buy-back price was $500-650 per million (depending on condition) we were able to get one man $850 per million x 60 million which helped him save his farm. We didn’t make much ($25 per million – to be exact) – but we helped.
It was then I realized, if we were gonna’ keep this up, we ought to get registered as a dealer… just to be on the safe side. We did.
What does this mean for you? We try to offer the best number for those wanting to get out – and the best number we can for those wanting to get in or add more.
Our Sell price for today: $950 per million
615-509-6256 (ANY TIME – If I’m awake and near the phone, I’ll answer. If not – leave a message. I’ll get right back to you.)
Here’s a nifty testimonial that just came in this morning…
Yes. I got the wire. Thank you very much – Sir. It went just like you said it would. My friend is very grateful and said thank you. He needed money fast to pay a bill so it came just at the right time”.
Adam Montana (Dinar Guru) – [What do you think is holding up the HCL?] HCL at this time – it’s completely political. Everything I discussed…is directly related to the delay on the HCL, and that’s coming to an end quickly. I’m excited to see this chapter conclude and see some HCL news in the coming weeks. Can’t be far off now!
BGG (Dinar Guru) – Article “The state of law reveals the fact that it presented “concessions to Barzani” to collect a third term for the owners” Quote: “Revealed a coalition of state law, led by Nuri al-Maliki, on Tuesday (July 10, 2018), the fact that he made concessions to the President of the Kurdistan region of former Massoud Barzani, during the visit to Erbil, last Saturday.” This is an interesting article. My take? The Maliki spin machine is in OVER-DRIVE these days. This time leading up to the final announcement of the Iraqi GOI is the whole game.
Adam Montana (Dinar Guru) – Here’s where my thought process is going, and I am getting more confident in this on a daily basis. Iraq is stillllgoing over election results from what seems to be ages ago… this is no different than most other election years, except this time there seems to be a LOT less drama, accusations, etc. Sure, there is still a bit of finger pointing… but this is NOTHING like what we’ve seen in the past. One example that stands out very brightly is the first Maliki vs Abadi race. There was basically kicking and screaming about those results! But at the end of the day, it all cleared up and we were left with Abadi for a few years. IMO that was a great thing! Now…it is being announced that we’re maybe a couple weeks from a true resolution and seating of both sides, and despite what would have historically been a time of extreme uncertainty, that’s not what I’m seeing and hearing.
Nouri al – Maliki .. His presence is a disgrace to Iraq and his role is suspicious and criminal
Maliki is using the scene threatened by civil war if not a key part in the formation of the next government
Iraq news – Maliki is exploiting the burning scene in southern Iraq to implement his threat to ignite the civil war if not major part of the formation of the next government.
We will give you the details in turn…
Article Credit: Thebaghdadpost.com
Ghost (Dinar Guru) – When Obama pulled us out is when ISIL took over. I don’t think we’ve come full circle yet…When you get news from Iraq, Remember Malaki owns more than ½ the newspapers and radio outlets, that broadcast the news. When you see the news coming out of Iraq sometimes it’s totally tainted. There is only one reliable newspaper over there, “The Baghdad Post.” He doesn’t own that one. The rest of them are completely fake news. Completely! All kinds of stuff about Sadr; All the election stuff – it’s all under control. … I do still have a lot of high level Washington contacts, contacts in Baghdad and a good grasp of the situation because of the position I had. I still have quite a lot of friends that were over there with me that know exactly what’s going on in these investments.
Ghost (Dinar Guru) – …Malaki…basically raped the country of everything. He marked up the dollar so merchants couldn’t get any money. He made sure the program rate was very, very low. He was adamant about stealing from the people… I’ve heard as soon as this election comes to pass he will be in shackles and very quickly. …Yes and the irony of it is as the partially convertible currency turns to the IR, we RV, we can see upward of $4 – $7 per dinar…$4.25 to $7.70. I have sources that have told me that. They are unconfirmed at this point. Feel so strongly IMO!
Frank26 (Dinar Guru) – HANNITY ANNOUNCED (Tuesday Night) ON TV THAT PRESIDENT TRUMP WILL MEET ABADI IN BRUSSELS. ABADI HAS A SPEECH ON IRAQ AND TERRORISM. IMO…BAGHDAD IS TOO VOLATILE FOR T TO GO THERE JUST YET.
ERBIL (Kurdistan 24) – The Political Bureau of Iraqi election winner Muqtada al-Sadr says a possible coalition with the Head of the State of Law faction, Nouri al-Maliki, is not possible as they hold him responsible for the fall of Mosul to the Islamic State (IS) in 2014.
Dhiya al-Assadi, Head of Sadr’s Political Bureau, said in a statement on Wednesday that forming a coalition with Maliki is unlikely because he holds legal responsibility for what happened in Mosul and other Iraqi cities due to his role as Commander-in-Chief of the armed forces at the time…
Read more: http://www.dinarupdates.com/blog/
Ghost (Dinar Guru) – Our blessing was to go down in 2010, but because of security and stability reasons it hasn’t been able to. But, all of the pieces of the puzzle are coming together. I do believe that with all of my heart. We actually have some intelligence today that is going to push our blessing to the next level.
Mnt Goat (Dinar Guru) – So what do we look for once the Electoral Commission says all the re-counting is completed? 1.The Judicial must ratify the election results as completed (re-count of the ballots completed and certified by the Judiciary) looks like not until around end of July, as best. 2.seating the three presidents – new prime minister, speaker of the house and the ceremonial president and his three vice presidents. 3. sense of political stability in Iraq. 4.maintained security with the region. Note: I do not believe that the prime minister needs to seat his entire cabinet of ministers at this time for the RV…
Don961 (Dinar Guru) – Article: “Learn about the security features of the world’s most highly traded currency” Now why do you suppose an Iraqi news site would post an article about currencies that are highly traded in the world?? … Showing their security features … Just a random thing?? … Or on purpose?? … To educate?? … IMO.
BTW – I intend to keep buying and selling once there is a value change for the Dinar. No reason not to – the prices will just be higher.
tman23 (Dinar Guru) – Rate will be 4.25 or 6.14 and have a worthy piece of history in print which leads me to such a possibility.
BGG ~ It’s OFFICIAL. Ted has LOST IT!! OMG!!
Mnt Goat (Dinar Guru) – Sadr has these corrupted politicians worried and shaking in their boots over the charges of corruption. He is coming for them… We read also today that in fact, if Sadr has his way, Nori al-Maliki is going to be one of them. I can assure you prosecuting Maliki may bring some unrest at first, but in the long run it will bring so much order and peace to Iraq. It is well worth the risk. But first they must settle the election results and make sure he does not “bargain” his way into yet another govt position to protect his immunity again as he did in 2014. As far as I know…he has no bargaining power. But as long as they keep this re-counting of ballots charade going, this will buy him time to come up with something. I fully believe this is the real culprit behind these recounting shenanigans they are playing.
ChrisC (Dinar Guru) – Article: “Iran aims to conclude monetary agreements with three countries including Iraq” Quote: “The governor of the Central Bank of Iran, Aliullah Saif, announced Saturday (July 7, 2018) that the bank will continue to conclude monetary agreements with Iraq, Russia and Azerbaijan to deal with national currencies.“ I kept waiting to see if anybody would comment on this. It seems this is one of the clearest of the day that Iraq has an international currency. Why would Iran want a “national” currency that they couldn’t do anything with?
“Steady Increase” in the Iraqi Dinar
There has been a steady increase in the market price of the Iraqi Dinar (IQD) versus the USD, according to an Iraq Business News Expert.
In his market report for the month of June, Ahmed Tabaqchali said the premium over the official exchange rate has fallen to 1.2 percent, the lowest point in a number of years, from just under 6 percent at the end of 2017 and 10 percent at the end of 2016.
“FX spreads are one of many sources of revenues for the higher quality banks but constitute the bulk of earnings for the lower quality banks“, he adds…
Read Ahmed Tabaqchali’s full report here.
Read more: http://www.dinarupdates.com/blog/
tman23 (Dinar Guru) – I keep reading where Gurus claim the only source to make a change to the IQD is the CBI and the only approval needed is the IMF to article VIII…My questions is if this is true… Remember the Pottery Barn rule You break it you buy it? We broke it it and we bought it!! If what Gurus say is correct then how did IQD get 3 zeros on it? Am I to assume the CBI made the decision along with the IMF? Go back and do some research where years ago debates/ discussions that included Paul Ryan (current speaker of the house) were deciding what CURRENCY Iraq should use… That was determined in and by OUR GOVERNMENT… and I believe without doubt it takes OUR GOVERNMENT approval on when Iraq moves forward with lifting 3 zeros and the currency is traded on international levels.
Kaperoni (Dinar Guru) – Crazy…nonsense…blaming the so called “delay” on President Trump… Currency reform is part of the transition to Article VIII and when that occurs it’ll be a decision between the IMF in [and?] the CBI nobody else.
Mnt Goat (Dinar Guru) – Article: “SADR ASKED WHEN WILL IRAQ’S CURRENCY IN THE RANKS OF MAJOR CURRENCIES” Quote: “when the Iraqi economy flourishes and ITS CURRENCY IN THE RANKS OF MAJOR CURRENCIES.” Sadr is talking about the reinstatement of the dinar…WOW!
Monetary policy .. fixed rate or partly floating?
Adel Abdul Mahdi – I have repeatedly written about the absurdity of the survival of the trillions of dinars outside the banking cycle, or frozen in banks, which instead of encouraging them to enter the banking cycle and turned them into investments and instruments for the stability of the monetary markets, exaggerated by the repressive measures, keen on the philosophy and loss of dinars.The economy has interests, relations and rights, governed by the laws of its interior rather than its appearance, moving towards points of attraction and escaping the points of danger .. This is why the nations are keen to increase the factors of encouragement and temptation, and resort mainly to the deterrent controls produced by the self-immunity of the movement of these laws, about her. We have repeatedly proposed adopting an encouraging vision in tax accounting and financial facilities, protecting money from arbitrary measures to escape, and eliminating the economy of the currency, the cash economy, which is the most important tool of corruption, which we talk about long.The rationality of rent and the rigidity of economic thought and its limited budget and collection, loans and foreign parts, and the neglect of real economic tools, put us in a vicious cycle of crises and lures and corruption .. Which leads us to more dependency and import and weak production and increase unemployment, I recently received a detailed report written by the end of 2014 one of the financial experts of one of the major banks, I saw useful publication of the most important paragraphs.
“There are three types of exchange rate: fixed (Iraq) .. Fully floating or moving (determined by market factors entirely) .. And partially or creeping (Lebanon) In order to determine the most appropriate system, the main economic indicators of the Iraqi economy should be: 44 billion dollars in the balance of trade, and surplus in the balance of payments about 30 billion dollars at the end of 2012 .. b) total foreign exchange reserves $ 71 billion at the end of 2013 .. c) the value of the monetary mass MO (paper and metal) ) M2 (M2 + demand deposits + mobile savings accounts) is about 73 billion…
Read more: http://www.dinarupdates.com/blog/
Kaperoni (Dinar Guru) – The fact is there is no RV or RI…it’s just not how monetary policy works for emerging-market countries. I expected some point soon this year that the CBI will accept Article VIII and at the same time move off the peg and begin to float their currency. This is a necessary step to invite investment and counter inflationary pressure created from that investment. An article today came out from a member of the finance committee indicating that Iraq has about 33 to 36 trillion dinars in circulation. If true that is a good sign that the money supply has been reduced at least some.
Mnt Goat (Dinar Guru) – Quote: “THE USNs HAS BEEN APPROVED BY PRESIDENT TRUMP AND THIS WAS HOLDING BACK THE RV” ...the “USN” designation is merely a code meaning (next day) transfer of US Dollar funds USD indicating how the funds are to be used. According to UN/CEFACT recommendation 9, paragraphs 8-9 (ECE/TRADE/203, 1996, it is used for inter-banking transactions. It does NOT mean “new” US currency. …“USN” is NOT a designation for a new currency coming out to replace the USD old currency that you now have. It is not GOLD backed. I quote from the [forex] site: “The US dollar actually has three codes assigned: USD, USS (same day) and USN (next day)...” …the dinar is already pegged to the US dollar by a “de facto” peg put in place in 2003 to keep the dinar from fully crashing. As part of moving to Article 8 the IMF plans to re-peg the dinar to the SDR basket of 5 currencies of the strongest developed nations, one of which is the USD.
Adam Montana (Dinar Guru) – Work is steady across the pond in that big sandpit, which is all I’m asking for right now. Abadi continues to move forward as if there wasn’t even another party and there weren’t elections recently. I’m not sure I’ve ever witnessed someone so smoothly ignoring the outcries from what has historically been a very disruptive opposition in these times. It’s actually refreshing to see! …I’ve been a supporter of Abadi since before he was first elected to his position. His demeanor and work ethic at this time, in spite of what could easily be an excuse to let things slide… the man is once again proving he’s business minded and goal oriented. [post 1 of 2….stay tuned]
International team of experts in Baghdad to track the money of figures loyal to Iran
According to a report published on Sunday, July 01, 2018, a team of foreign experts working in Iraq, for months, to track the accounts of the funds of a number of people “loyal to Iran,” noting that the team works in cooperation with the government Iraq.
The newspaper said in its report that “in light of the economic crisis suffocation suffered by the Iranian interior, Iraqi factions loyal to Tehran fear they could not get Khamenei’s help if it came under additional US pressure.”
According to the report, these factions rely on “Iranian influence in various Iraqi institutions to obtain contracts to execute projects, some of which are fictitious, generating millions of dollars annually.”
“So far, US pressure on Iran’s allies in Iraq has been limited to funding aspects,” she said.
“Foreign experts working in the Iraqi capital for months have been tracking the flow of funds that are moving between the accounts of pro-Iranian Iraqi figures,” the sources told the paper, which they described as “high” in Baghdad.
The sources added that “foreign experts coordinate their efforts with the office of Iraqi Prime Minister Haider al-Abadi, in addition to an international investigation network linked to the World Banks and the World Bank and the Central Bank of Iraq, to prosecute any transfers from and to Iraq, suspected of links to the Iranian regime.”
Observers believe that Iraq is a main station for trading Iranian and Iraqi funds aimed at fueling conflicts in Yemen, Lebanon and Syria.
The United States, according to the report, “dealt an important blow to the network of money laundering operated by Iran in Iraq, when the name of the bank (Islamic countries) owned by Iraqi politician Aras Karim, on the list of banks banned, because of financial transactions suspicious.
The bank, according to the report, is known as “a major terminal for the transfer of funds from Iran and Iraq to the Lebanese Hezbollah, led by Hassan Nasrallah.”
The Iraqi newspaper pointed out that “the amount of Iraqi coordination with the efforts of prosecution, was clear, when the Iraqi Central Bank announced its response to the American decision, about 48 hours after its issuance, as he informed all Iraqi banks to stop dealing with the Bank of the country, asking them to freeze its assets “He said.
The newspaper said that “the Bank of the country is the front of the huge financial activities between Iraq and Lebanon, supervised by the commander of the Quds Force in the Iranian Revolutionary Guards General Qassem Soleimani.”
“The US-led financial pressure on Iraqi banks that are helping the Iranian regime is a prelude to US action, perhaps more severe,” the newspaper said, quoting observers.
Iraqi observers living in the United States say Washington may be planning an imminent escalation against Iran.
Article Credit: http://baghdadtoday.news (Special thanks to Charles Bright)
BGG ~ Makes more sense now that Maliki’s kid was arrested in Lebanon with 1.5 Billion USD in his apartment… could he have have been the bag man for Maliki’s hinky Iranian financial dealings??
Adam Montana (Dinar Guru) – In spite of that, I think we’re still on the uphill slope of this thing, at least for the next week or so. There may not be an “official” announcement of an election “winner”, or there may be multiple “announcements” that end up being meaningless and Abadi just carries on doing his job… if we don’t see anything negative in the next 3-7 days, I think we’re looking at some HCL news within the next couple weeks, and that will get this train back on track. Looking forward to some exciting times in the VERY near future, my friends! All it’s going to take is a little nudging and we’re off… [post 2 of 2]
Kaperoni (Dinar Guru) – A good article today…sounds like Sadr is calling for currency reform.
Kaperoni (Dinar Guru) – Just was reading the latest Regional Economic Outlook from the IMF which came out today…”However, in Iran and Iraq, banking systems continue to face numerous challenges, which will be the focus of reforms expected to be implemented this year.” Don’t know about Iran’s banking system as it seems to be going backwards at this point due to the sanctions but Iraq is making positive strides especially with the recent articles from the weekend.
Mnt Goat (Dinar Guru) – Article quote: “The Governor of the Central Bank of Iraq, Mr. Ali Mohsen Ismail, received the Best Governor of a Central Bank at the level of the Arab countries…” well, well, well…look at all the wonderful reforms he has helped implement in Iraq. Quote: “notably the maintenance of the exchange rate and closing the gap between the official price and the market price”. This is the MCP folks. They mentioned this one first. We know this was the hold up in getting the currency reinstated and moving fully to Article 8.
BGG Article: “Iraq: 20 Lawmakers to Be Arrested as Parliament Term Ends” I’m a little curious to see if there is any specific sectarian break-down on this round of prosecutions. Not that it really makes a direct impact on the overall investment – I’m just curious. It also looks like, to me, the political climate is getting better and better. Progress. Anyone telling you the political climate isn’t important simply isn’t paying attention. The things we are seeing unfold right now are pretty good for the overall welfare of this investment and Iraq in general.
BAGHDAD / Tomorrow ‘s Press: announced the International Financial Action Task Force “FATF”, on Sunday, “officially” out of Iraq from the follow – up area thanks to the achievements of the Iraqi Central Bank and the Office of the fight against money laundering and the financing of terrorism “significant progress”.
The Central Bank of Iraq said in a press statement that “the International Financial Action Task Force officially announced the exit of Iraq from the follow-up area, because of the achievement of the Central Bank of Iraq and the Office of AML / CFT of significant progress in improving and addressing shortcomings.”
He added that “Iraq has fulfilled all its obligations towards the recommendations of the group and address the requirements of the strategy of combating money laundering and financing of terrorism prepared by the Central Bank of Iraq.”
“In addition to the enactment of the Anti-Money Laundering Law No. 39 of 2015, the issuance of instructions and regulations and the establishment of the Anti-Money Laundering and Terrorism Financing Council, as well as the Committee for the freezing of terrorist funds.”
“Thus, Iraq is no longer subject to monitoring and follow-up by FATF,” the bank said.
Article Credit: Alghadpress.com (Special Thanks to Vernell Washington)
BGG ~ It means… ONE STEP CLOSER!!
Delta (Dinar Guru) – Article: “World Bank Representative in Iraq: There is a great need to use and strengthen the financial resources of the Customs” Quote: “There are many reforms that must be made financially and electronically in order to link the border crossings…” …VERY HUGE WOW … WE TALKED ABOUT THIS WHILE BACK LINKING BORDER CROSSING FOR CUSTOMS ELECTRONICALLY …WORLD BANK SAYING THAT IRAQ MUST MAKE FINANCIAL REFORMS MEANING ( CURRENCY REFORM) …
Kaperoni (Dinar Guru) – [Who exactly is the FATF?] Financial Action Task Force. [Wikipedia: “…an intergovernmental organization founded in 1989 on the initiative of the G7 to develop policies to combat money laundering. In 2001 its mandate expanded to include terrorism financing. It monitors progress in implementing the FATF Recommendations through “peer reviews” (“mutual evaluations”) of member countries.”
Kaperoni (Dinar Guru) – More great news today from the Iraqi banking sector. CBI News. “Iraq is no longer subject to monitoring and follow-up by the FATF.” This is a great example of what the IMF said about Iraq sending a positive message to the global banking system. By meeting these requirements they are getting very close. Got to love it when the CBI keeps fulfilling compliance requirements. In my opinion the CBI is not only gathering significant confidence but they are gathering momentum signing agreements and meeting compliance. I believe IMF Article VIII is coming very soon. I am not one to get overly excited but in this case I am one that believes that Iraq will continue pushing the banking system forward. That is exactly what we want.
Iran militias in Iraq expected to vanish after US financial sanctions
Iranian militias in Iraq are expected to economically vanish after the enforcement of the US sanctions, analysts told the Baghdad Post. For them, the US pressures and sanctions, imposed on the Iraqi banks linked to Iran will put an end to these gangs, especially after freezing their financial resources. Many questions face the Iranian gangs after restricting the banks that provide them with needed funds.
According to a report published on the Iraqi daily Al-Arab newspaper, the Iraqi political forces loyal to Iran are in a state of severe foreboding over the worrying future of Iran, which appears to be surrounded by serious international risks.
The Iraqi political forces are closely monitoring the current protests staged against the Iranian regime and its foreign policy, which has weakened the country’s domestic economy and resulted in international outrage.
For the first time, the Iraqi forces, loyal to Iran, do not seem confident of the Khomeini’s Velayat-e-Faqih doctrine’s ability to overcome the current looming challenges, topped by the United States withdrawal from the 2015 nuclear deal with Iran.
Well-informed sources told ‘Al-Arab’ that the Iraqi Shiite political forces, which have friendly relations with Iran, are increasingly concerned about the reports of deterioration of Iran’s Supreme Leader, Ayatollah Ali Khamenei’s health condition, who has sustained with prostate cancer.
Some Shiite political parties in Baghdad are talking about a real US intention to curb the Iranian influence in Iraq.
“Iraq is a potential arena for an impending conflict between the United States and Iran,” said the parties.
In light of the critical economic crisis witnessed by Iran, Some Iraqi factions loyal to Tehran are afraid of the failure to get Khamenei’s help if they came under additional American pressure.
These Iraqi factions rely on Iranian influence in various domestic institutions in order to obtain contracts to execute projects, some of which are fictitious, generating millions of dollars annually.
So far, US pressure exercises against Iran’s allies in Iraq is limited to funding aspects.
Foreign experts working in the Iraqi capital for months have been tracking the flow of funds that are moving between the accounts of pro-Iranian Iraqi figures,” the sources said.
The sources added that “foreign experts coordinate their efforts with the office of Iraqi Prime Minister Haider al-Abadi, in addition to an international investigation network linked to the World Bank and the Central Bank of Iraq, to seize any transfers from and to Iraq, suspected of links to the Iranian regime”.
Observers believe that Iraq is a main station for trading Iranian and Iraqi funds aimed at fueling conflicts in Yemen, Lebanon and Syria.
The United States, according to the report, “dealt an important blow to the network of money laundering operated by Iran in Iraq, by enlisting a bank owned by Iraqi politician Aras Karim as banned because of suspicious financial transactions.
The bank, according to the report, is known as “a major terminal for the transfer of funds from Iran and Iraq to the Lebanese Hezbollah Militias, led by Hassan Nasrallah.
The bank plays an important role in the huge financial activities between Iraq and Lebanon. These activities are supervised by the commander of the Quds Force in the Iranian Revolutionary Guards General Qassem Soleimani.
“The US-led financial pressure on Iraqi banks that are helping the Iranian regime is a prelude to US action, perhaps more severe,” the newspaper said, quoting observers.
Iraqi observers living in the United States say Washington may be planning an imminent escalation against Iran.
Article Credit: http://www.thebaghdadpost.com (Special Thanks to Charles Bright)
Randy Koonce (Dinar Guru) – First, are we in a new window of opportunity ‘right now’. When I say that, it does not mean it will happen without a doubt in this current window; it does mean that there is a very good chance for the rate to finally change…At the bottom of every update I always state: When it happens, check the cbi.iq to verify!! That is where I check. And if the Conversion rate is different -then it happened! On the website today (cbi.iq) it shows: US Dollar US 1190…Until it changes on that website, no one will be able to go to any bank and exchange your dinar. It has to change there FIRST. …Here is what I do know…
Randy Koonce (Dinar Guru) – This should have been finished in May. There was an Organization, who shall remain nameless, that thought they knew better about what needed to happen in the election; and therefore did not release it as planned. That being said, our POTUS is VERY tired of waiting for this to go off. He has applied, and is still applying lots of pressure on this, along with several other major countries. The US has been involved in the background along with the UN to resolve the Election Mess and get this rolled out for the benefit of all of us. The Election results should be announced officially no later than the end of next week. Shortly after that announcement, we should/will see the rate change…
Randy Koonce (Dinar Guru) – What if the election does not get resolved? From what I understand, if all goes bad and it looks like it will go forever, then POTUS is wanting this out anyway and will continue to apply pressure to get it finished. This window will remain open until around the 8th of July. …In my opinion, the pressure being applied will make this go, and will get it done much sooner. And, if you see the “Sadr and Abadi Play Nice” speech, with them having the largest block as the Papers are indicating now, it will be much sooner…So, hang in there Everyone. It’s coming, one way or the other!! We are close.. Every large bank will exchange.. RELAX the RV is coming… Breathe.
Talabani’s family supports “second term” to Abadi to avoid “scenario” that might ignite the Kurdistan street
Baghdad today – Sulaymaniyah – An informed source revealed Sunday that there is a tendency by the Patriotic Union of Kurdistan (PUK) to support the current prime minister, Haider al-Abadi, for a second term in order to prevent another person from reaching the post, which could create a new crisis in the region.
The source said in an interview with “Baghdad Today” that “there is a trend supported by the Talabani family, to support Abbadi for a second term in the event he approved the group of demands for the National Union, including the return of part of the Peshmerga and Asayish forces to Kirkuk and management issues related to the position of governor.
He added that “the issue of approving the continuation of sending the salaries of employees and support the share of 17% of the budget of the conditions also important, in addition to other conditions agreed by the party with the Democratic Party.”
The source pointed out that “supporting the direction of Abadi came as a result of the uncertainty that the next prime minister will agree to send the amounts allocated to salaries of staff, which may restore the Kurdish street to demonstrate again and create a new crisis ahead of the parliamentary elections in Kurdistan, affect the status of the party in those elections” .
And locked the political blocs winning in the legislative elections according to the results of counting and sorting, “e”, negotiations to form the largest bloc in preparation for the formation of the next government.
The Prime Minister Haider Abadi and the leader of the Sadrist movement, Moqtada al-Sadr, announced last Saturday, an alliance between their coalition (victory and rest), to form the largest bloc within the Iraqi parliament.
The Sadr, has announced in (June 13, 2018), the accession of the Conquest led by Hadi al-Ameri to the alliance to form the “largest bloc” within the Iraqi parliament, pointing out that the new alliance comes with the preservation of the tripartite alliance, which was concluded earlier, between The National Coalition and the Stream of Wisdom.
Article Credit: Baghdadtoday.news
Chattels (Dinar Guru) – Recent news report states that the manual recount will not begin until Wednesday / Thursday of this week. Historically manual recounts in Iraq have taken four weeks. Official announcement will involve review / action by the ” Iraqi Supreme Court “.
Mnt Goat (Dinar Guru) – …a German company namely Bertelsmann Stiftung, did a currency analysis of Iraq from 2015 to 2017…this report …is telling us the CBI does NOT intend to float the currency starting from the 1190 CBI rate. Next it tells us some kind of significant increase ($1.17-1.71 or ?) is going to happen from day 1 on the reinstatement, then this starting rate will by [be ?] the launching rate on the global currency exchanges namely FOREX. …it is not going to take years or even months to get to a significant value rise that we want to go to the bank. It is going to come right out of the gate with a substantial increase in value probably very close to $1.80 – $2.00 or a bit higher now that all the reforms are in place.
Kaperoni (Dinar Guru) – I saw…that someone posted that they expected Iraq to get into the WTO soon…it’s not happening but a year-and-a-half ago the WTO told Iraq until they reduce the dependence on oil there’s no chance…I believe the number they said was 70%. Iraq has a long ways to go before they’re ready for the WTO. The reference of the WTO in itself does encourage currency reform which is a good thing. In other words before Iraq gets in the WTO they’re going to need a private sector and begin to produce exports that will reduce the dependence on oil then they’ll be ready for the WTO.
The largest bloc was settled away from Maliki’s coalition .. Sadr will officially announce from Baghdad
Baghdad today – A source close to the leader of the Sadrist movement, Moqtada al-Sadr, on Saturday, the healing of “the largest bloc” in parliament, which will take over the task of forming the next government, away from the coalition of state law, pointing out that Sadr will officially announce this bloc from the capital Baghdad.
The source said in an exclusive interview (Baghdad today), “The largest bloc, will include others and victory and Fatah and competencies for change and the movement of will and wisdom and patriotism apart from the rule of law,” noting that “what happened today is a prelude to announce the largest bloc to be announced Sadr in Baghdad , And in the presence of the heads of these blocks, during the current week or next.
“The two sides agreed that the steps to form a government after the ratification of the election results by the Federal Court.”
The Prime Minister Haider al-Abbadi and the leader of the Sadrist movement Moqtada al-Sadr, earlier on Saturday, an alliance between the coalition victory and others, to form the largest bloc within the Iraqi parliament.
“An agreement was reached on the formation of a cross-sectarian alliance between coalition and victory and victory,” Abadi said during a joint news conference with al-Sadr.
For his part, al-Sadr said during the conference that “the alliance with Abadi trans-sectarian through the agreement on a new program determines the most important work will be in the new government,” calling for “reform of the judiciary and activate the role of the prosecution.”
“The government should continue to fight administrative corruption and bring anyone found guilty of corruption to justice.”
The Information Office of the Prime Minister, announced on Saturday (June 23, 2018), the arrival of Abbadi to Najaf, without giving further details.
And locked the political blocs winning in the legislative elections according to the results of counting and sorting “electronic”, and waiting (re-counting and sorting manually) negotiations to form the next government.
The leader of the Sadrist movement, Moqtada al-Sadr, had announced in (June 13, 2018), the accession of the alliance led by Hadi al-Amiri alliance to form the “largest bloc” within the Iraqi parliament, pointing out that the new alliance comes with the preservation of the tripartite alliance, Earlier, between Seeron and the National Coalition and the Stream of Wisdom.
Artricle Credit: Baghdadtoday.news (Special Thanks to Charles Bright)
BGG ~ This makes it… pretty much a SLAM DUNK. Sadr, Abadi (which I thought would happen all along), Ameri (slight surprise) and Hakim = PLENTY. I predict they will also include all the Sunnis and Kurds who wish to be included. This may well be the most inclusive Iraqi GOI yet.
Like I said in the beginning… relax. Let this happen.
Breitling (Dinar Guru) – People are always asking, “Is this going to be a slow float or is it going to be fast?” I think there is going to be a hard revaluation and it goes up from there. But what if there is a small float in-between? It doesn’t mean anything. They are going to have to add a real value to their currency. Otherwise they are not going to be able to financially make it. They can maintain, but their country is going to come apart…I think it’s coming down the road fast…
Adam Montana (Dinar Guru) – [Regarding the Article 8 requirement that a country must maintain no more than a 2% differntial between the official rate and the market rate for 90 days before it can transition to Article 8…. Since Iraq finally was able to maintain that compliance for 90 days as Friday, June 15, and since Iraq does not appear to have been motivated to do that until now, do you agree this is a good indication that Iraq wants to move to Article 8 shortly, especially since they’ve been had trouble maintaining less than 2% previously?] Compliance/entry into Article 8 does not magically influence the world to resume trading IQD in the same manner as we do other currencies you can find at any old exchange desk… all the way down to the mexican peso! Thinking about it this way can be a bit of a distraction, so I try not to put a ton of emphasis or importance on “Article 8”. The IQD will become “internationally recognized” once Iraq itself puts their faith into it – and that will be symbolized/shown with an RV. When the CBI changes the rate, nobody will care about Article 8.
tman23 (Dinar Guru) – The truth of the matter is Iraq has plans to implement monetary reform and get off the additional 3 zero money system. …THE FIRST THING YOU WILL SEE HAPPEN… The Introduction of the new currency… This is NOT A TURN ON THE ATM EVENT AND RELEASE THE NEW CURRENCY NOTES… THIS WILL BE AN EDUCATIONAL PROCESS. They will introduce and describe the new currency notes and security features to EVERYONE…EVERYONE WILL SEE THE START OF THE EDUCATIONAL PROCESS AT THE SAME TIME ON THE NEW CURRENCY AND NOT JUST INSIDE OF IRAQ… PEOPLE TRAVEL TO IRAQ AND EXCHANGE TO USE THEIR CURRENCY SO THE WORLD WILL KNOW OF THIS CURRENCY NOT JUST IRAQI’S… This is an exact statement made in Iraq “The new currency must come first as a prelude to lifting the 3 zeros from the currency notes“…Make SENSE? AND 3 zero notes will never ever FLOAT…
Spokesman for Sadr: Abadi among candidates to head government
Iraq news – Spokesman for Leader of Sadrist Movement Muqtada al Sadr, Salah al Obeidi said Monday that current Iraqi Prime Minister Haider al Abadi is among the candidates to head the next government.
In press statements, Obeidi explained that the issue of forming the next government will be clearer after Eid al-Fitr holidays, pointing out that if Abadi gains the confidence of other parties which won seats in the Parliamentary elections there will be no obstacles facing him to assume another term in office.
The Parliamentary elections was marked by record low turnout. It was the first since Iraq declared victory over the ISIS group and the fourth since the 2003 US-led invasion that toppled Saddam Hussein.
Article Credit: Thebaghdadpost.com
Kaperoni (Dinar Guru) – When you reintegrate with the world’s Financial system you must exit the peg and move to a float particularly in Iraq’s instance this is important. The reason being as capital flows through the central banks Capital Account it will create inflation in the country. To counter such inflation being on a float allows the CBI to compensate by allowing the currency to appreciate. This is well-documented. The hope is that the currency will rise fast as a result of significant investment in the country and has been stated as the Balassa-Samuelson effect. If one is to believe the statement from the overview of Iraqi Finance 2018 they have significant investment lined up to come into the country. Many people have challenged me over the years to provide credentials. My response was I’m not asking anyone to put trust in what I say but to validate what I say in the very documents that I reference.
Kaperoni (Dinar Guru) – How are you going to control inflation when large sums of money come into a country if you’re not going to float your currency? All anyone needs to do is…read two or three of the documents from the IMF on the transition from fixed to float to understand how currency reform works. You cannot be pegged when large influxes of capital flow through the CBI, the only alternative to being pegged is a float. This is not guesswork, the IMF themselves told the CBI back in 2012 when they were about to transition the move to a more liberal exchange rate regime. The very definition of that is a float…we see the CBI follow the IMF time after time. Considering the IMF has an agreement with the CBI for monetary reform as well as trusteeship over the CBI the chances are very good that they’ll follow what they recommend.
Kaperoni (Dinar Guru) – Over the last couple of years there are more than 10 articles talking about floating the Iraq dinar. There is only one article that talks about the timing is not right to float the Iraqi dinar. My money is on the directives from the IMF, Iraq will float it is the only option. By definition moving to a more liberal exchange rate regime is moving to a float. Monetary policy is not a random act. Changing exchange rate regimes going from a peg to a float Etc all have individual purposes…they are used to stabilize economies or combat inflation. Iraq is expecting a large influx of capital …some say it’s going to be the wild west of the Middle East this will put severe pressure on the financial system of the CBI. The recourse is get off the peg move to a float to combat the pressure allowing the currency to rise and value.
BTI-project.org – Iraq
This is an excerpt from page 21 of this report…
8 | Currency and Price Stability
The government’s monetary policy since 2003 has focused on maintaining price stability and exchange rate predictability. The inflation has remained in the low since 2010. According to the CBI, the inflation rate is 1.4% (2015 estimates), while the World Bank estimates 2015 at -1.2%, and the country’s international reserve volume also has decreased due to the sharp decline in oil prices. The independence of the CBI suffered a setback in January 2011 when former Prime Minister al-Maliki won a court ruling that placed independent institutions, including the CBI, under the control of the cabinet. In January 2012, the CBI raised the exchange rate of the Iraqi dinar to $1.19, causing a huge crisis that led the Supreme Judicial Council to issue an arrest warrant for CBI governor Sinan al-Shabibi in October 2012 on charges of corruption. Al-Shabibi received a seven-year prison sentence in absentia 2014, shortly before being acquitted of all charges. The difference between the official and parallel exchange increased from three percent in 2015 to nine percent in May 2016. The CBI introduced a number of policies to keep inflation low. The dinar remained widely stable and was worth $1.71 in early 2017.
Article Credit: BTI-project.org (Special Thanks to David Tiff Duke)
BGG ~ I have searched this, sourced it and verified what it said… This is, in fact, what it said.
However, I am not entirely certain this is not referring to an “internal valuation” of what they believe the IQD to be worth according to their own financial metrics (the BTI project – that is…)
Mnt Goat (Dinar Guru) – I still persist that mid-July is very good timeframe to maybe see the CBI moving ahead again on the project to delete the zeros. Yes, I do believe it is coming. Let’s just keep our fingers (and toes) crossed that nothing else comes up to interfere.
tlm724 (Dinar Guru) – Article: “dinar card is ready to use” Quotes: “announce International Islamic Ban announced launch first MasterCard card currency Iraqi dinar” “Ruffer used your card outside Iraq and through the Internet and the price of discharge according to the official price of the Central Bank of Iraq.” …very interesting. ...I researched the International Islamic Bank branch in Iraq…they do offer MasterCard and many benefits to their customers. Very good stuff…
Kaperoni (Dinar Guru) – 3 days now passed the 3-month IMF requirement, CBI continues to be in compliance at 1200 to $1.
Sadrist movement denies alliance with State of Law
Iraq news – The political bureau of the Sadrist movement denied on Saturday news reports that the State of Law coalition would join an alliance between Sairun and Al Fatah.
Diaa al-Asadi said in a statement the reports were baseless.
The Sairun alliance which is backed by prominent Shia cleric Moqtada Al Sadr won the majority in the May 12 elections.
Article Credit: Thebaghdadpost.com (Charles Bright)
Kaperoni (Dinar Guru) – …Iraq is 96% dependent on oil sales what that means is they could never sell oil below market price because they would be under cutting their own budget. Remember 70% of the budget is wages as most Iraqi’s are on the state payroll. Selling oil for $32 a barrel would prevent them for making payroll. Until Iraq and diversify and create a market economy and reduce the dependence on oil they are at the mercy of meeting that budget. The actual cost to produce a barrel of oil is about $10 yes but Iraq has many other expenses on top of that that make the sale of any oil for less than $40 not profitable.
Kaperoni (Dinar Guru) – With 96% oil dependency Iraq must pay for everything from oil sales from infrastructure projects, salaries of employees, defense spending and of course a lot goes to corruption. Iraq’s budget for 2018 was $88 billion dollars. Iraq currently produces about 4.5 million barrels per day of oil. They would have to make at least $62 a barrel to break even on the budget including production cost. This is why the idea of oil credits or selling oil for $32 is just not feasible. I’ve said for years the dinar that we hold that was sold outside Iraq will never go back…it was part of a controlled leak to prime the pump of sorts to create momentum for the Iraqi dinar worldwide which eventually will end up in other central banks around the world.
Breitling (Dinar Guru) – We have new people getting into the dinar and they’re trying to learn what you and I learned a long long time ago. The question is: “If there’s trillions notes in the hands of the Iraqi citizens…when the value increase wouldn’t the vast majority of Iraq’s citizens become instant millionaires?” No. Again, when the value of the dinar goes up in Iraq, remember everything is at a tenth of a penny, and when you go up to buy a coke or a candy bar it’s at a tenth of a penny. So when it goes up a dollar, they are going to charge you a dollar for the coke…Services and goods are going to rise up with the value as the currency goes up. But you and I don’t live in that world. Why? Because we bought the currency with the US dollar…They are not going to be instant millionaires overnight…That’s the difference. Iraqis did not exchange dollars for their dinar…
Iraq’s former PM Nouri Al Maliki ‘not welcome’ in new government
Nationalist cleric Moqtada Al Sadr and Iran-backed militia leader Hadi Al Amiri have found common ground in excluding the former leader
There is no place for former Prime Minister Nouri Al Maliki in the coalition to form Iraq’s next government, a spokesman for the recent election’s largest political bloc has said.
“Nouri Al Maliki is not welcome to join the coalition,” Dhiaa Al Assadi, a close aide to Shiite Cleric Moqtada Al Sadr, told The National.
Last month’s parliamentary elections saw electoral lists led by nationalist Mr Al Sadr and Iranian-backed militia chief Hadi Al Amiri win the largest number of seats. The two leaders announced their intention to form an alliance of their political blocs on Wednesday.
They called on other political groups to join them in a coalition. Notably absent from that invitation was Mr Al Maliki.
It appears a decisive set back for Mr Al Maliki, who in the past managed to cling to power despite rising unpopularity.
Mr Al Maliki took power in 2006 with the blessing of both the United States and Iran. But he rapidly alienated the country’s Sunni and Kurdish minorities by shutting them out of key security positions and undermining power-sharing agreements.
During the 2010 elections, a secular bloc headed by vice president Ayad Allawi won the most seats in parliament. But Tehran backed Mr Al Maliki to remain in power, who was able to form a “national unity” government with the help of Mr Al Sadr.
Mr Al Maliki was finally forced to step down in 2014 following the collapse of a third of Iraq’s military and police units in the face of an ISIS offensive which overran a third of the country. He immediately assumed the largely ceremonial role for vice president. He was replaced as premier by fellow Dawa Party member Haider Al Abadi.
As general secretary of the Dawa party, Mr Maliki has retained political influence, though his State of Law coalition performed bellow expectations in the recent elections, winning just 26 seats.
The blocs controlled by Mr Al Sadr and Mr Amiri control 101 seats, short of the 165 required to form a majority.
Mr Al Sadr’s Sairoun alliance, which also includes the Communist Party and secular candidates, won 54 seats, while Mr Amiri’s Fatah coalition of Shiite paramilitaries won 47 seats.
Incumbent Prime Minister Abadi’s Victory alliance took 42 seats.
“His Eminence [Mr Al Sadr] has always welcomed Dr Al Abadi to join his coalition,” Mr Al Assadi said.
The Shiite cleric has previously vowed that he would not allow Mr Maliki another term as prime minister.
Even his former backers in Tehran may have given up on him. “Nouri Al Maliki was Iran’s best person but they accept that he’s not part of the next government because of the instability caused” during his time in power, Renad Mansour, senior research fellow at London’s Chatham House, told The National.
“Al Sadr’s stance has been to side-line Nouri Al Maliki,” he added.
Mr Al Sadr’s strong election performance marked the culmination of years of speaking out against corruption and government mismanagement.
He first built his name outside of mainstream politics, as the head of the Mehdi Army militia which fought against the US occupation using sophisticated bombs likely supplied by the Iranians. But he has remained a staunch nationalist, critical of Iranian interference in Iraq.
For his proposed coalition to succeed, Mr Al Sadr will need to overcome grievances from members of his own bloc who insist Tehran should not be permitted to interfere in Iraq’s affairs.
Iran backs Mr Al Amiri, a militia leader who spent two decades fighting former dictator Saddam Hussein from Iran. He is also close to General Qassem Soleimani, commander of foreign operations for Iran’s Revolutionary Guards who has great influence in Iraq.
Article Credit: Thenational.ae (Special Thanks to Charles Bright)
Charles Bright – NAILED IT!!
Kaperoni (Dinar Guru) – The CBI is now allowing consumers in Iraq to get cash back from point-of-sale transactions up to 2 million Iraqi dinar per day with a small fee. Now why would they do this if there was a RV or RI about to happen? They wouldn’t! There is no RV or RI. As I’ve said over and over and over again monetary policy just doesn’t work that way. Once the CBI accepts IMF Article VIII they will get off the peg and move to some kind of a float which will allow the dinar to gradually rise over time. The pace of that rise is yet to be determined. Could the Iraqi dinar ever rise to a dollar in value? Yes I believe it could but it’ll take time. The process to raise the value will be based on sound monetary policy not some overnight event.
Breitling (Dinar Guru) – Phenomenal news out of Iraq. What happened…is going to push the revaluation of the dinar that much quicker and that much more…Security council…letting the CBI out of sanctions that happen on June 6th or 7th…It’s a big deal for us. There are a lot of entities and persons in Iraq that have been sanctioned and the CBI was one of them. People don’t realize this. The CBI could have revalued under the sanctions they were under. All they had to do was reduce the note count. So what does it mean for us?…[Post 1 of 2]
Breitling (Dinar Guru) – It’s not a coincidence that Iraq got out of these sanctions knowing where the price per barrel is going to go and the next thing you know they’re out of these sanctions… So they are not going to have as many US dollars because the price per barrel is going to go down. What are they going to use? They are going to use the Iraqi dinar. So it’s a big huge deal for us. They were going to revalue anyways but now they’re open to that much more of the market and the market is that much more open to them. It was a huge weekend. People should be excited. This thing is going to come down…that’s reality….Everything is set in place. They are going to revalue their currency. They’re going to add value to it. They are going to have to… [Post 2 of 2]
Iraq’s parliament speaker calls for election rerun, after fire hits ballot boxes warehouse
BAGHDAD: Iraqi Prime Minister Haider Al-Abadi said on Sunday that the burning of a storage site in Baghdad where ballot boxes were kept was part of a plot to harm Iraq’s democratic process, the first government indication the incident was deliberate.
“Burning election warehouses … is a plot to harm the nation and its democracy. We will take all necessary measures and strike with an iron fist all who undermine the security of the nation and its citizens,” Abadi said in a statement…
Read more: http://www.dinarupdates.com/blog/
BGG ~ Why would this be Sadr?? He loves his position and has nothing to fear from a recount… especially if these accusations about the IHEC (or HEC – whatever they are calling it this week) are true and we get an unbiased panel of 9 judges instead.
Walkingstick (Dinar Guru) – It’s important to understand Iraq has a seated government and Abadi is the Prime Minister. The election recount is just about being caused by government officials who are the “spoiled brats, the sore losers.” Sadr will appoint Abadi as Prime Minister for a second term. He will not wait for a recount. The elections are over! The elections have nothing to do with Iraqi Dinar re-in statement. What you are now reading about in print like the UNSC release of ALL of the CBI’s frozen assets includes six to seven tons of gold. . . $81 Billion . . . those assets, even though frozen, accumulated interest for so many years. Iraq could have revalued before these assets were released but not at the rate they can since the release. Enough funds IMO they can come out at over $3.00 . . .with a higher rate than we anticipated.
Delta (Dinar Guru) – The UN Security Council (UNSC) released all remaining sanctions of the last 16 years. This means the rate can go back to over $3.00. In 2003 the UN took Iraq’s currency, the dinar, down to 1/10 cent to prevent Sadaam from using funds for terrorism. The frozen assets the UNSC released of the Central Bank of Iraq (CBI) were in the mega $$. This is HUGE! Iraq will have their currency in a 2% compliant rate for 90 days on June 15 as required by the IMF. The Iraq currency needs to see re-instatment shortly. The revaluation is separate from the Iraq Elections. Alak, the CBI governor has said, “Lift restrictions on exchange rate 1st half of 2018.” CBI will pull the trigger either the last week of June or last 10 days of June.
Kaperoni (Dinar Guru) – My guess is al-Maliki is behind this fire… fits his MO. Destroy the ballots than there can’t be a recount. Course his goal is a new election.
BGG (Dinar Guru) – Article: “Iraq’s parliament speaker calls for election rerun, after fire hits ballot boxes warehouse” Why would this be Sadr?? He loves his position and has nothing to fear from a recount… especially if these accusations about the IHEC (or HEC – whatever they are calling it this week) are true and we get an unbiased panel of 9 judges instead.
Kaperoni (Dinar Guru) – Down to 4 days to meet compliance. [IMF’s Market Rate vs. Official Rate within 2% for 90 days rule.]
tman23 (Dinar Guru) – Iraqi Parliament Speaker Salim al-Jabouri on Sunday claimed the fire that broke out at a warehouse in eastern Baghdad, where the electoral commission kept ballot boxes, was deliberate and called for a new parliamentary election… NEW ELECTION…LOL!!! What a mess…who could of possibly seen this coming?? Funny Jabouri was calling for a new election saying ballots were destroyed as firefighters were in the middle of still putting out the fire…
Iraq’s prime minister speaks of a conspiracy threatening the country
Iraqi Prime Minister Haidar al-Abadi said a fire at the ballot box store in Baghdad was part of a plot to undermine the country’s democratic process in the first government sign that the incident was deliberate.
“The burning of electoral stores represents a plan to strike the country and its democratic approach,” Abbadi said in a statement, adding that “we will take the necessary measures and strike with an iron fist against anyone who wishes to undermine the security of the country and its citizens.”
The Independent Electoral Commission for elections to re-counting and sorting manually in the whole of Iraq , and the abolition of the work of accelerating the electronic results.
The Iraqi parliamentary elections took place on 12 May last, the system of electronic voting, which was applied for the first time in the country, which caused great controversy and criticism after the announcement of the results.
Political blocs and figures questioned the results of the elections, prompting the parliament to set up a mini-fact-finding commission two weeks ago to consider allegations of violations that accompanied the electoral process, including members of the legal committees, immigration and parliamentary integrity.
And replaced the list of “Saron” sponsored by the Sadrist movement in the first place, followed by the list of the opening led by the leader of the popular crowd, Hadi Amiri second, while the coalition of victory led by Prime Minister Haider Abadi III.
Article Credit: arabic.sputniknews.com
Kaperoni (Dinar Guru) – Some good news today if you call it that, it looks like the manual recount is only going to take about 10 days and not 3 months as originally predicted. Personally I don’t know what the desire for manual recount is for. It’s not going to change the outcome of who becomes prime-minister because that is based on political blocks unifying to form an alliance. At best, a political block may pick up a seat or two in parliament. But all this nonsense has been initiated by al-Maliki and his block and Salim Jubouri the parliament speaker who both lost pretty handily in the elections. What also appears to have happened is in the last day or so a large alliance has been formed consisting of a majority of parliamentary seats. This Alliance does not include al-Maliki or his state of law coalition. [post 1 of 2….stay tuned]
Kaperoni (Dinar Guru) – So if we’re waiting for the formation of the government to occur before any kind of monetary reform can go forward, it looks like we might be waiting an extra month or so. I think we were all hoping for the formation of the government to occur by the end of June and to coincide with the cbi’s three-month IMF requirement (June 15 or so) compliance but that looks like it might be pushed back until the end of July or August. If so we have to hope that the CBI can continue to maintain spread within 2% or less for that duration. In the meantime I am looking for some news that would indicate that the IMF has scheduled their Article IV Consultation with Iraq. I believe this will occur at the same or about the same time as the CBI’s begins monetary reform. [post 2 of 2]
Chattels (Dinar Guru) – Quote: “Legal team replaces Iraq High Election Commission & supervises hand recount of votes from 12 May. This will take 3 weeks. (Authorities of current government end 30 June & if no new government formed, a temporary government with limited powers takes over)” So, at this point there has been no ratification of the election results by the Iraqi Judiciary. The timeline for government formation has not begun until the act of ratification. It appears that it may be after June 30 until the completion of the recount and the election results can be ratified. Iraq will have a caretaker government beginning about July 1st. It is unlikely that Iraq will have a new government until late August or early September, IMO. …I have opined that the first quarter of 2019 seems like the earliest date for completion of monetary reform and the realization of any value for us. Not a prediction, but nothing likely before then is my sense of it.
Abadi is close to making a historic decision
Iraqi sources said Saturday that Prime Minister Haider al-Abadi announced his break-up with the Islamic Dawa Party because of disagreements with leaders and a second alliance with the Al-Nasr bloc and others led by Moqtada al-Sadr and other political forces.
The sources told «life», that «the religious authority in Najaf and the leader of the Sadrist movement, Moqtada al-Sadr has the same view on the candidate to the prime minister, and if the Dawa Party must be independent and outside the custody of his party».
She pointed out that «the match between the reference and the chest does not mean they agreed on this in practice, but a common orientation», stressing that «Abbadi is aware of this trend has not yet made his decision, but close to that waiting to deal with the implications of that with his party».
And revealed «differences on the position of the party from the alliance with others, led by Sadr, who ranked first in the parliamentary elections».
The sources said that «the axis of Vice President Nuri al-Maliki within the Dawa Party completely refuses to enter the list of victory in an alliance with others, because of Sadr’s position of the leader of the rule of law and the Secretary General of the party (ie al-Maliki).
According to leaks learned by «life», «a breakfast Ramadan included the last leaders of the invitation saw verbal arguments regarding the rejection of the requirement to remove the prime minister candidate from his party».
But the leader of the party Saad Almtalibi admitted in a press statement, that «the alliance of Sawson was the establishment of impossible conditions for dialogue with us, such as Maliki’s apology from the people of Mosul, because of the occupation of the organization of the terrorist calls their city. Therefore, there are no dialogues with others and this is their choice, they wanted to get away from us, and we are not who moved away ».
On the other hand, al-Maliki’s office denied in a statement in response to journalists’ questions addressed to him, regarding the information about his position on the appointment of the next prime minister, that «does not nominate anyone and does not object to the nomination of anyone to the position bar to come within the legal context».
At the same time, he objected to any candidate who would circumvent the election results and the legal context.
Article Credit: Shafaaq.com (Special Thanks to Charles Bright)
BGG ~ If this is public – Abadi is close to making his deal… if this is the alliance, IMHO – you can stick a FORK in Maliki. He’s done. However, there are lots of discussions going on and plenty of leveraging. Stay tuned.
Kaperoni (Dinar Guru) – The current rate of the Iraqi dinar 1190 is real and accurate and a result of monetary policy accomplished over several years when Shabibi was in charge it’s not artificial or program rate. The recent change in the exchange rate in year 2015 to 1186 now reflecting 1190 is real and a result of discussions between the IMF and the CBI to monitor the conditions in Iraq and the subsequent reforms. As I said before numerous times if and when the CBI accepts IMF Article VIII they will have to get off the peg and move to some type of float allowing the dinar to gradually rise based on investment and capital influx. This is no overnight event.
Kaperoni (Dinar Guru) – Though the spread is consistant and we are getting close to the 3 month compliance, I do think the IMF needs to have it’s Article IV Consulation with Iraq and the formation of a new government before we will see change. The Article IV is a good time for the IMF to review the CBI and go over monetary policy, etc. before the CBI writes the letter accepting Article VIII. The new government needs to be in place to encourage investment. We are getting closer for sure.
ChrisC (Dinar Guru) – Everybody should remember this…1) Iraq is the geographic center of the ME, they are the richest in assets in the ME and they are constantly saying they are going to be the tiger of the ME.Another thing I always thought was telling is our largest embassy in the world is in Iraq. A country like this is not going to use somebody else’s currency five minutes longer than they have to. 2) No more ISIS 3) corruption is on the way out. That really is one of the main reasons IMO that they have kept using the dollar and now they are going to start stringing them up if they stay in Iraq. In the final analysis the evidence, not my opinion, shows that this should be much sooner than later.
Chattels (Dinar Guru) – The exchange rate of the dinar against the US dollar in local trades on Sunday (June 3, 2018), the following ranking:
Baghdad – Bourse struggle:
119.775 = 100 dollars
Mnt Goat (Dinar Guru) – So why did the CBI decide to hold it up the project to delete the zeros until after the elections, even though they told us it was all ready and prepared? The CBI along with the IMF wanted to first play out the polical process of the elections and to make sure that these corrupt officials are eliminated from office and the amendments to the election law are passed in Parliament once and for all.Iraq needs these laws to keep these crooks out of politics… They needed to close down these FAKE BANKS throughout Iraq and prosecute the guilty. Just too much currency MANIPULATION and FRAUD.
Chattels (Dinar Guru) –The only change or import of the articles being posted about the value of the dinar in the market are whether the difference between the official rate and the market rate is within 2%….There is about ten days left on the countdown to a ninety day period of compliance.
Abadi’s list hints at the opposition
BasNews – A member of the coalition «victory» led by Iraqi Prime Minister Haider Abadi, the coalition’s readiness to work in the opposition in the House of Representatives.
“We welcome everyone, but the declaration of alliances is premature before the Federal Supreme Court approves the election results as well as the charged atmosphere and cast doubt on the results,” Yusuf al-Kalabi said in a press statement.
“We are close to everyone, except those whose hands have been stained with the blood of the Iraqis, stealing the people’s money and penetrating corruption.”
Al-Kalabi announced that they are in the coalition of “victory” ready to go to the opposition without hesitation if we do not find this atmosphere.
Abizaid, saying: «we find the alliance of Souron, is closest to us and other parties, but we emphasize that the political meetings do not exceed the exchange of visits».
And the decision of the Council of Representatives on the elections, that “the election law painted a way to challenge the results and there are those who did not accept, and there are a lot of observations on the Electoral Commission,” as he put it.
He said that “the elections can not be re-elected, because exceeding the constitutional time after the end of the current parliament, which ends on July 1, 2018 will put us in crisis.”
“The current parliament has not succeeded in the basic task of legislating the important and required laws. Iraq is walking in an executive and realistic direction, and the laws are socialist and old, so the next parliament has a great responsibility to make a real revolution in the legislation of laws.”
The coalition of “victory”, led by Abadi, was replaced by a third with 42 seats, according to the final results of legislative elections announced by the Electoral Commission for elections in Iraq, dawn Saturday 19 May.
While Al-Fateh won 48 seats, while the State of Law coalition won 26 seats, the Kurdistan Democratic Party won 25 seats, the National Coalition won 21 seats, (Wisdom) 20 seats, while the Patriotic Union of Kurdistan won 18 seats.
Article Credit: Basnews.com (Special Thanks to Paul Moseley)
BGG ~ I think it’s early to worry or be concerned about who will lead Iraq. This is more of a threat than a reality. I think there is little chance Abadi’s list winds up as the opposition in Parliament, rather – this is a statement confirming his loyalties to the cause of the people and a warning to some of the “swing votes” who might still be jockeying with the dream there is a return to some former place in which Maliki returns Iraq to rampant corruption where he gets to do as he pleases and they get paid huge fortunes.
Abadi still has the clearest path to being the next PM.
Chattels (Dinar Guru) – [ i…was wondering if you think the IMF is in charge of most of this dinar circus?] Iraq’s monetary practice and policy arguably must exist within an acceptable framework for it’s currency to be received / valued by others is my sense of it. It is a collaborative and compliance situation between the CBI and the IMF at least. Neither is arguably “in charge”.
Chattels (Dinar Guru) – [...the CBI IS IN CONTROL PERIOD!!] There are market forces that the CBI can influence but I do not believe that the CBI “controls” them directly.
Chattels (Dinar Guru) – Article: “Banks and dinar recovery” Quote: “more than two months ago the stability of the exchange rate and the recovery of the Iraqi dinar and the high purchasing power in the market of cash circulation because of the success of the plans and procedures of the Central Bank and the cooperation of the banking sector with him, which led to convergence of the exchange rate set by the Central Bank with the parallel market price,…” The foregoing arguably confirms the compliance made with the 2 % spread toward a three month period.
Why am I selling my Dinar?
Simple answer: I’m not – I’m buying. I only sell so that we can increase holdings. We keep everything we can afford to. That’s the general concept anyway.
Sometime back we were able to help some folks in a big way with their currency. This was at a time when the dealers were being very harsh with people on their buy-backs and not really passing much of that on to buyers.
We helped. When their advertised buy-back was $500-600 (depending on condition) we were able to get one man $850 x 60 million and helped save his farm. We didn’t make much – but we helped. It was then I realized, if we were gonna’ keep this up, we ought to get registered as a dealer.
We did. We try to offer the best number for those wanting to get out – and the best number we can for those wanting to get in or add more.
Current Sale Price: $995 per million (2014 25k notes – perfect quality – uncirculated)
P.S. You are welcome to PM me on FaceBook for more (currency related) info as well.
G-Lin (Dinar Guru) – […the news is all over the place! Election results finalized, Abadi offered the PM position, government forming quickly, rigged election reports, efforts to cancel the elections, war…] Yes…What it boils down to is whoever develops the largest bloc will decide the ruling party and gov. Looks like Sadr, Abadi, Hakim, and hopefully the Kurds can out number Maliki and Amiri. I think Barzani is considering going with Maliki. That amazes me. We need to sit back and watch the outcome. I have no idea which way the Sunnis will come down. Allawi will always create problems. This may take a while.
Chattels (Dinar Guru) – 165 seats are necessary. Sadr’s Sairoon (54 seats), PM Abadi’s Nasr (42 seats), Hakim’s Hikma (19 seats), VP Allawi’s Wataniya (21 seats) and the KDP (25 seats) and Qarar (13 seats) makes a total of 173 if my math is correct. Can I get a “Bingo!“? With the Kurds as part of the government we have the best chance to avoid quotas and establish an efficient majority government for legislation without consensus, IMO. Godspeed the completion of the Iraqi Banking Sector Reform Project!
sandyf (Dinar Guru) – It is a fact that Iraq has for years discussed the project to delete the 3 zeros. It is a fact that ten years ago that Iraq considered the “Turkey model” for their redenomination. It is a fact that in April 2012 the Iraqi cabinet postponed the redenomination indefinitely. It is a fact that in 2009 an investigative report was published into redenominations. It is a fact that the 2009 report concluded that a major contributor to a “successful” redenomination was low inflation. It is a fact that a redenomination introduces a new national currency and that the previous national currency co-exists in-country for a period of time. It would become an ISO historical currency. It is a fact that ISO historical currencies are not recognised internationally…
BGG ~ There are some claims here that I simply don’t agree with… the actual text of noted articles show differently.
Can Sadr swing a Nonsectarian Government?
By Ali Mamouri for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News.
After the Sairoon (On the Move) Alliance emerged victorious in the May 12 Iraqi elections, its leader, Muqtada al-Sadr, has been seeking meetings with the leaders of the other top-vote-getting alliances to discuss the possibility of forming the largest bloc in the new parliament and ultimately form the new Cabinet.
At a May 19 joint press conference after talks with Sadr, Prime Minister Haider al-Abadi, whose Al-Nasr (Victory) Alliance came in third, said, “During our meeting, we agreed to work together and with other parties to expedite the process of forming a new Iraqi government.”
A few days later, on May 22, Al-Nasr spokesman Hussein al-Adeli said Abadi had reached an agreement with Sadr on a map for forming a new government. Abadi himself, in his weekly press conference the same day, said his coalition was close to reaching an understanding with the Sairoon Alliance “to form a strong technocratic government.”…
sandyf (Dinar Guru) – It is a fact that the Central Bank of Kuwait did not revalue the KWD following the occupation. The KWD was reinstated at the same value as it was prior to the occupation. It is a fact that the CBI published a figure for “Currency Issued” of 42.172 Trillion IQD as of 31st March 2018…It is a fact that no country on a floating exchange rate has allowed “rapid” appreciation of the currency. In recent times the greatest appreciation seen was the Yuan at about 3% per year, many said that was rapid. In the eye of the beholder. It is a fact that I have never said there was no possibility of a positive outcome, Just that it would not be in the way some want to make out…
BGG ~ How does comparing the KWD to the IQD prove anything? Or disprove it – for that matter? It’s like comparing apples and watermelons!!
Mnt Goat (Dinar Guru) – Article: “MOQTADA AL-SADR, AGREED TO GIVE PRIME MINISTER HAIDER ABADI A SECOND TERM, DURING THE MEETING THEY HAD JUST GATHERED IN BAGHDAD” Okay so now we know Al-Abadi is going to be the next prime minister. We also gain some more insight at to the two conditions that al-Sadr is requiring of him. 1) fight corruption all the way to the top levels of govt 2) publish the list of names of those corrupt political officials.You can bet that on his mind is going after this Nori al-Maliki.
Adam Montana (Dinar Guru) – …here we are, patiently grinding through Ramadan. As expected, news is a bit slow at this time …The good news is there’s absolutely nothing going on that gives us cause for concern – so sit tight, keep that dinar in a safe place, and let’s just keep an eye on things for the next couple weeks. Once things get moving again, we should be in for a heck of a ride…
Sadr announces completion of final touches of government
Alsumaria News / Baghdad – The leader of the Sadrist movement Moqtada al-Sadr announced on Wednesday the completion of the final touches of the government, indicating that it is a genuine Iraqi government and opposition to constructive political and peaceful peace.
“Today, I have completed the picture and I have completed the final touches after you have completed the advice and satisfied you with the government,” Sadr said in a tweet followed by Alsumaria News. “It is a Sunni, Shiite, Arab, Kurdish, nationalist and non-sectarian government. Political peace “.
“We will brief them on the details of the many meetings so that they can have good sayings, and then we will wait for the honest and patriotic blocs that are precious to form a strong patriarchal government that will give the people their rights,” he said.
The leader of the Sadrist movement Moqtada al-Sadr met with a number of officials in the Iraqi government and heads of blocs and coalitions, including Prime Minister Haider Abadi, and discussed with them the formation of the next government and its program.
Article Credit: Alsumaria.tv
Kaperoni (Dinar Guru) – I stated last week that current PM al-Abadi does not want to be PM again. Today, some news surfaced that seems to support that. There may very well be a new PM chosen.
Mnt Goat (Dinar Guru) – So what next: Iraq is:
1. Much more STABLE politically just having the announcement on Sunday that Al-Abadi will continue on with a second term;
2. That the new government about to be formed will have the full support of the anti-corruption “Sadr Movement” behind it to support what Abadi knows he must do – expose these 1,000 political figures involved in this corruption (or as the CBI has told us they are involved in the FRAUD and MANIPULATION of the currency.
3. Once the MCP monitoring is completed (in the absence of no more violations) this could happen on approx June 15th as Kap [Guru Kaperoni] noted. The CBI is expected to get permission to move ahead with the currency, put it on a float off the fixed rate de facto peg to the US Dollar. They will then re-peg it to the SDR basket of currencies. Here is the juicy part…
Mnt Goat (Dinar Guru) – ...In pegging it to the SDR basket they must come up with an initial “anchor rate” equivalent and in-line with the basket of 5 currencies in it. This anchor rate in not technically an RV or RI but for our purposes it surely could be a substantial increase in value we all want. I do not believe, as [Guru] Kaperoni has stated …that the “anchor rate” will be the 1184 program rate and they will let it float from that rate.Instead I believe this “anchor rate” could be equivalent to somewhere around a 1:1, 1 dinar : 1 US dollar. By the time we see it on FOREX it may already be well up to the $3.00 – $4.00 range we all want. Like I said in prior news, that this measure will be a counter inflationary measure holding if off FOREX for a few days to maybe a few weeks.
Baghdad today – A source familiar with the Sadrist movement, the scenes of the meeting of the leader of the current Moqtada al-Sadr, Prime Minister Haider Abadi in Baghdad.
The source said in an interview with Baghdad today that “the leader of the Sadrist movement, Moqtada al-Sadr, agreed to give Prime Minister Haider Abadi a second term, during the meeting they had just gathered in Baghdad.”
He added that “Sadr demanded the return of Abadi from the Dawa Party and pledges to fight corruption fully, including names influential in the political process.”
Sadr’s office revealed details of Sadr’s meeting in Baghdad after midnight on Sunday.
Article Credit: Baghdadtoday.news
Chattels (Dinar Guru) – Maliki individually received the highest number of votes in the election. [what does that mean for the elections though, will he have any power/say in anything?] Power follows the political bloc and not the individual. No need to be worried. Negotiations continue between the blocs. We are still awaiting a final certification of the election results. The final results must be ratified by the court.
Kaperoni (Dinar Guru) – [correction] …the 3 month IMF requirement…I want to correct how much time is left. Our countdown indicates 24 days. June/July going to be interesting months.
Mnt Goat (Dinar Guru) – Just in on Sunday morning – MOQTADA AL-SADR, AGREED TO GIVE PRIME MINISTER HAIDER ABADI A SECOND TERM, DURING THE MEETING THEY HAD JUST GATHERED IN BAGHDAD. …Folks this is really happening. The unexpected miracle already did happen with the Sadar Movement (the underdogs) having won the popular vote...So for our investment these recent events are all very good and the news could not possibly get any better than if they did announce the RV. But they didn’t however we know it is coming shortly and sooner than you might think…
Sadr and Abadi close to declaring a clear alliance in Iraq
* Iranian efforts to form a coalition led by al – Maliki and Ameri
– Dubai (Arab event): While delaying suspicions of fraud in Kurdistan, Anbar and Kirkuk , especially in the announcement of the final results of the Iraqi elections, in contrast , is growing debate about the alliances that Stffersha elections. The leaks to the near declaration of a clear alliance between the leader of the alliance, “Asron,” Moqtada al-Sadr, who has achieved leadership in this election, and the leader of the coalition, “victory”, Haider Abadi, in a proactive attempt to block the Iranian efforts to form a coalition led by Nuri al-Maliki and Hadi al-Amiri .
The task led by Qassim Soleimani to form the largest bloc in the next parliament does not seem easy. Many sources close to Sadr say many leaders of different blocs want to join an alliance with Abadi and form a government. Negotiations have made significant progress on some issues . The debate remains only about what is said to be required to sever the relationship between the Abadi Party “Dawa”.
Sadr, who is heading to become the most powerful political force in Iraq, for three days, saying that the Iraqi decision will be from within the border and all partners of princes as long as they are not occupiers of the country, as he put it.
Tensions are still rising in Kirkuk, where gunmen have been besieged by several polling stations and pressuring UNHCR to change the election results.
However, with the introduction of the results of the elections abroad, the Commission showed leaks on the change in positions of forces, which called for the Commission to indicate the presence of changes in the sites of blocks, although not large.
Article Credit: Alwatannews.net
Mnt Goat (Dinar Guru) – …So we all know that Al-Abadi did lose the popular votes, thus he did lose the election, however…Could Al-Abadi be the next PM even though he lost the popular election? …even though a candidate runs for office and does not win the overall popular vote, he/she can still possibly be nominated as the candidate for the office and, if ratified by parliament, take the duty of forming the next government of Iraq, thus the prime minister position. ...So, in this election process of 2018, we see that Al-Sadr does not want to be prime minister since he is a cleric but wanted to be able to select someone who will fulfill the “Sadr Movement’s” party policies. So, who will he select?
That is the million dollar question… …Al-Abadi can be nominated and probably will be the nominee submitted to parliament by the “Sadr Movement”. However, having said this, it is very premature…There is no proof of this. All the news states Al-Sadr has to still decide however he is open to it. This is what he really said. Let’s just watch it all play out and see if there are any surprises…
MilitiaMan (Dinar Guru) – Article: “The Parliament directs the Commission to take the necessary measures to provide confidence in the elections” The cat is coming out of the bag… Evidence is suggesting the elections are rigged.. No longer doubt but facts. Will the evidence be set aside…? With Al Sadr meeting with the five, I’ll bet as we are taught the results will be “” more of a move along nothing left to see here… lol Plus the USA ordering Solameini “” to get out of Iraq finds us with the hicupps subsiding as he crosses back over the border..? it is also obvious the investors are ready to roll when it comes to re construction.. the timeing of it all coming together is fascinating! Even the video Walkingstick posted has presentation boards in the back drop and advertising those involved!!There was one that stands out to me and if we recall EO 13303, one will know a major player in this project to iraqs MR.. imo.
BGG ~ There is no cat – no bag. The IHEC will address all the complaints in a thorough and complete fashion. If there were fraud – do you think anyone willing to pull such a thing off wanted Sadr to be the winner? C’MON MAN!! The USA doesn’t order the General to do anything, he is our enemy. He does as the Mullahs tell him.
Regarding E.O. 13303 – this is a continuing Executive Order. It is extended every year. This year being no surprise and no “harbinger” of things to come.
Stryker (Dinar Guru) – Iraq election: Al-Abadi will have to negotiate his future…The vote dealt a blow to Prime Minister Haider al-Abadi, whose Nasr alliance is trailing in third place. But with no group winning a majority, he could still be a major player.
Abadi closest to the premiership
Said Habib terminal head of the parliamentary wisdom bloc that Haider Abadi, the current prime minister is the closest to get a second term of others and stressed the existence of talks between the blocks of the alliance and the formation of the largest bloc in the coming period.
Al-Turfi said that one of the advantages of Haider Abadi, which qualifies him to renew the mandate for another parliamentary session is to get a list of good seats in parliament in addition to his victory on terrorism, according to his claim.
He stressed that the current wise conditions for the next prime minister in the event of an alliance with him is the application of the law and accountability of corrupt and state building in accordance with sound rules.
He added that the talks to form the next government has started since the announcement of the preliminary results will crystallize during the coming hours to come out of the largest bloc, indicating that the largest bloc will be far from sectarianism and will include all components to reduce the page of sectarianism and abomination.
Article Credit: Irqnews.com
Kaperoni (Dinar Guru) – The CBI stated a year or so ago, once they start it could take 2 years to delete the zeros. What that means is that the dinar will appreciate gradually (float) as stated in the IMF Article IV Consultation. My view is that once the conditions are met, They accept Article VIII, and move to a float, it could take another 2 years to raise the value of the dinar to a value where the zeros are gone. Not saying it will take that long but it is a directly related to investment. This is why the IMF stated the Balassa-Samuelson effect in the 2012 Article IV. The truth is, if investors are lined up to participate in Iraq, it should happen fairly quickly. But it is up to Iraq to create the right environment for the value to rise. At that point all we can do is hope that investors come to Iraq, begin the substantial rebuilding and investment phase creating inflationary pressure on the CBI to raise the value.
Stryker (Dinar Guru) – Abadi still has time to shine these next few weeks, and gain his second term along the way!
Breitling (Dinar Guru) – What does it [Iran sanctions] mean for Iraq? …as the new sanctions come up…the rest of the world will not have access to Iran’s energy sources and they [Iran] will not have access to most of the world’s energy sources. So how does that translate for Iraq? How is Iraq involved? Because If you look at Iran, Iran is Shia…so they belong to a different church than the Sunni and the Arabs…If there’s going to be big huge sanctions on Iran they are going to use the same backdoor market that they did last time before the sanctions were lifted. And guess what that backdoor market was? Iraq. Because there are more Shia in Iraq than there are Sunni and Kurds. That’s why it’s a good thing for Iraq…
6 corrupts, perhaps including Nuri Al-Maliki, about to flee Iraq: Sources
More than six corrupt figures are currently preparing for fleeing Iraq through the Baghdad International Airport, well-informed sources told the Baghdad Post by phone on Monday.
The sources who requested anonymity did not name the corrupt figures. But it is most likely that former PM Nuri al-Maliki is among them.
Sadrists on social media urged prominent Shia cleric Moqtada Al Sadr to swiftly form a government in a bid to prevent corrupt officials from fleeing the country.
With most votes counted, Al-Sadr-led Saeroon (On the Move) coalition is taking the lead.
Article Credit: Thebaghdadpost.com (Special Thanks to Charles Bright)
Chattels (Dinar Guru) – 30 days remaining to meet IMF compliance according to Kap’s countdown. Coincidentally that date will coincide with the Eid al-Fitr Holiday and the end of Ramadan…
Kaperoni (Dinar Guru) – Our unofficial IMF compliance countdown clock for the 2% compliance is now at 30 days to go.
Chattels (Dinar Guru) – These are the steps to form the next Iraqi government… “Basnews: According to the Constitution...The Iraqi parliamentary elections, which took place yesterday, have followed the steps of forming the new government within 90 days. The steps in accordance with the Iraqi constitution will be as follows:
– The Independent High Electoral Commission (IHEC) will announce the election results on Monday.
– President Fuad Masum calls on the new parliament to convene within 15 days of announcing the results.
– Legislators elect a speaker and two deputies by an absolute majority at the first meeting.
The Commission announces the results Thursday and says: Do not believe the rumors
Baghdad / SNG – A member of the Board of Commissioners of the Electoral Commission, Hazem al-Ridini said that the figures announced by the Commission for what the entities have received is not final changeable but not by large proportions, and the other surprising is the circulation of names winning inaccurate numbers.
“The announced votes for the lists do not represent 100 percent, but some satellite channels have tried to influence and distort the results in advance by announcing inaccurate numbers,” he said.
“The final results will be announced on Thursday, during a press conference announcing the number of seats and the winning candidates and the number of votes they have won,” he said.
Article Credit: sngiq.net (Special Thanks to Charles Bright)
Chattels (Dinar Guru) – These are the steps to form the next Iraqi government...
– Parliament elects a new president by a two-thirds majority of deputies within 30 days of the first meeting.
– The new president nominates the candidate of the largest bloc in parliament to form a government.
– The prime minister-designate shall have 30 days to form the government and submit it to parliament for approval.
– Parliament must approve the government program and each minister separately in a separate vote by an absolute If the prime minister-designate fails to form a coalition government within 30 days or if parliament rejects the government proposed by the prime minister-designate, the president must appoint another candidate to form a government within 15 days.
Kaperoni (Dinar Guru) – Just a reminder to all, that Prime Minister is not an elected position. It is a consensus among political blocs after the election. So we are in for a bit of a wait while negotiations and alliances are formed.
Chattels (Dinar Guru) – Mosul, the second largest city in Iraq has yet to indicate any returns from the polls. Abadi was expected to show well in Mosul / Nineveh, we shall see.
Who? What? Why? Iraq’s election (2018)
BGG ~ Folks, it is as simple as this… These election results are critical. Even with an outright win by Abadi, it may well take him some time to fully form his next GOI and move things forward.
Kaperoni (Dinar Guru) – …update, the countdown is at 33 more days until the CBI meets IMF compliance. Hope they can keep the auctions below 2%.
Chattels (Dinar Guru) – Polls are open on Saturday, May 12 from 7am to 6pm across Iraq and the Kurdistan Region as voters elect a new parliament, the first election after ISIS. Al-Abadi is likely to win 60 seats in the parliamentary elections. …Results within 48 hours they say… [If he wins 60 seats, will that give him a majority?] No sir. [So, he’ll need to form a coalition?] Yes sir. [How long do you folks think it will take for Abadi to form a coalition?] There is no certainty that Abadi’s coalition will be asked to form a government. The top individual list vote getter has never become PM in Iraq. It all depends upon the coalition(s) formed post election. Maliki’s State Of Law Coalition lost out in 2014. Allawi lost out in 2008, etc
Kaperoni (Dinar Guru) – Today is election day in Iraq. So far, it appears that al-Maliki and his coalition has lost in the elections.
Iraqi Police Intercept 31 Boxes of $100 Bills from Iran to Promote Iraqi Puppet
The Iraqi Police intercept 31 boxes filled with stacks of $100 bills, smuggled from Iran, into Iraq, to be delivered to Hadi Al-Amari, head of the pro-Khomeiniist regime Badr militia.
VIDEO EXCLUSIVE : #Iraqi Police intercept 31 boxes with stacks of $100 bills, smuggled from #Iran, into #Iraq, to be delivered to #HadiAlAmari, head of #Badr militia and current Iraqi parliamentarian, for his re-election, ahead of the May 12th vote.https://t.co/uT3zneaEhK
— IsiCrc_Org (@IsicrcOrg) May 9, 2018
HERE IS THE VIDEO:
BGG ~ Talk about COLLUSION!! Imagine if something like this had actually gone on here in the U.S.??
I’ll give you two good guesses as to where these $100 bills came from… (… and the first hint is – it wasn’t DONALD TRUMP).
MilitiaMan (Dinar Guru) – Article: “Karim Tamimi calls on parties and candidates to abide by the silence of the media” Quote: “the media silence will begin at 7 am on Friday 11/5/2018, twenty-four hours before the start of the polling day, which will start at seven o’clock on Saturday 12/5/2018.” I wonder if the 24 hour silence is also in synchronization for other notifications. I wouldn’t be surprised for that to be very plausible. imo.? hmmm Lets not also forget that Electronic Payments started today on Mastercard…
BGG (Dinar Guru) – Article: “Abadi: The corrupt have become restless” Quote: “the corrupt were pressing for the collapse of the dinar prices and work to raise prices, but failed to do so,” asserting his quest for “a new renaissance of Iraq to restore its past and even better.” I have to think – with the context of his commentary in this article focused on the value of the Dinar, Abadi has something planned for after the elections. I’m not exactly sure what he’s talking about here… but it sounds good to me!
Kaperoni (Dinar Guru) – Dollars are being sucked up right now in Iran. As well, the Rial has dropped to 67,000 to one US dollar. We’re going to have to keep a close watch on the CBI over the next few weeks Iran has a tendency to suck dollars out of Iraq when it needs them and this could affect the spread. Course if this happens is bad for the CBI cuz it’ll affect its reserves as well it’ll knock the spread out of whack with the IMF forcing them to start over again on the 3 month compliance. Hopefully Iran’s weak currency and lack of dollars does not affect the CBI. They must be pretty confident since they are liberalizing even more. Remember the IMF and US Treasury helped them figure out how to get the spread within compliance last fall.
Abadi: The corrupt have become restless
Information / Baghdad .. Prime Minister Haidar al-Abadi said on Tuesday that the corrupt in Iraq have become restless by the measures taken by the government, pointing to his quest for a new renaissance in Iraq.
Abadi said in a speech during an election festival in the province of Wasit and followed by “information”, “The corrupt in Iraq are getting mad with every action by the government,” noting that “the corrupt failed in the face of government action.”
He added that “the corrupt were pressing for the collapse of the dinar prices and work to raise prices, but failed to do so,” asserting his quest for “a new renaissance of Iraq to restore its past and even better.”
Abadi stressed that “the government reduced the privileges of all officials during the last stage,” pointing out that “hit the corrupt and the hands with an iron fist.”
Article Credit: Almaalomah.com (Special Thanks to Vernell Washington)
BGG ~ I have to think – with the context of his commentary in this article focused on the value of the Dinar, Abadi has something planned for after the elections. I’m not exactly sure what he’s talking about here… but it sounds good!!
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