DINAR OBSERVER DAILY April 23rd

US Defense Secretary and US Ambassador discuss support for Iraqi coalition forces

Defense Minister Irfan Mahmoud al-Hayali discussed with US Ambassador to Baghdad Douglas Silman the support of the International Coalition for Iraqi Forces and the conduct of the liberation operations of the right side of Mosul.

“Defense Minister Irfan Mahmood al-Hayali received at his office Sunday morning US Ambassador to Baghdad Douglas Silman and his accompanying delegation, and discussed during the meeting the progress of the ongoing military operations to liberate the right coast, From the city of Mosul. ”

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

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 Stryker(Dinar Guru) –   Iraq is ready to take its place internationally.   An update of Iraq’s Economic Reforms from the IMF and World Bank review…
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EXOGEN (Dinar Guru) –  THURSDAY INTEL UPDATE: 1. IN COUNTRY STABILITY IN IRAQ IS FINALLY ALMOST HERE.  NOTE: WE TOLD PEOPLE YEARS AGO  YOU CAN NOT REVALUE A CURRENCY IN AN UNSTABLE
ENVIRONMENT CONTROLLED BY ISIS/ISIL. 
2. PAY CLOSE ATTENTION TO THE KURDS.  3. THERE IS ALSO AN OIL PIPELINE TRANSACTION THAT IS THE MAJOR TRIGGER MECHANISM  UNDER THE TABLE…HINT HINT!  (PAY CLOSE ATTENTION TO OIL JOINT VENTURES WITH IRAQ)  4. IQD PARITY TO OTHER CURRENCY IS INEVITABLE.

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“FaceBook LIVE” session from Friday w/BGG

Click here for Video Replay (4/21)

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Stryker (Dinar Guru) –   Our dinar dominoes are finally ready to topple over in the direction of the perfectly aligned stars that are overlooking the desert soaked deeply in oil.

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BGG (Dinar Guru) –   [is the new rate inside the budget?There is no “new rate” inside the budget…in fact, one of the recent interviews with a CBI official – all but said it wouldn’t happen that way…they did give us an actual list of what was required and in what order it should occur.

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BGG (Dinar Guru) –   [so we are waiting on Mosul’s liberation and then it rv’s?]  That is a pretty “canned” statement… though it may not be far from the truth…as in- pretty absolute.  [What about the other currencies?]  Dong looks to be a ways out (at best).

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tman23 (Dinar Guru) –  Coincidental…? You all should be very interested and excited…chatter regarding 4/21 and launching or beginning of something new with in IMF etc…Then i read this…Newshound Guru Stryker   Article: “Iraq resumes next Friday talks with the International Monetary Fund and the World Bank“.   What makes this so interesting is that everyone is meeting in Washington after they already had 12 day meeting in Amman just last month. Then I saw Legarde in an interview…will be meeting Mnunchin for the first time…Wanna know the date of the meeting …GUESS!   Friday…4/21  [post 1 of 2….stay tuned]

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tman23 (Dinar Guru) –   …it is being said in inner circles that something big regarding IMF…world currency…be that e-currency or whatever the speculation is was beginning 4/21...  All I can say…about it is…What I have been reading regarding 4/21 is from a complete different circle from dinarland and nothing to do with IQD… BUT with the latest report of Iraq being there…Sure makes things interesting along with the April 28th budget gap looming…   [post 2 of 2]

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Follow us on twitter @DinarUpdates !!

follow Dinar Updates on twitterDinar Updates – “News Time” w/BGG & Company   April 23rd  –  7:30pm CST – In the Chat Room!!

www.DinarUpdates.com – save as favorite

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Iraq calls on the international community to contribute to the reconstruction of infrastructure in the liberated areas

Foreign Minister Ibrahim al-Jaafari on Saturday called on the international community to contribute to the reconstruction of infrastructure in the liberated areas after the elimination of “terrorism”.

“Foreign Minister Ibrahim al-Jaafari received the special envoy of US President Donald Trump, the international coalition to fight the defiant Brit Mkgork, and the delegation accompanying him in his office in Baghdad,” al-Jaafari’s office said in a statement.
He added that “during the meeting, they reviewed the overall security and political developments, and the great victories achieved by the Iraqis in their war against terrorist gangs and international efforts to support the security and stability of the region.”

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

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BGG (Dinar Guru) –   [Do you think that the IMF meeting with the CBI and GOI this weekend could be the GO/No Go meeting for the Revalue of Iraq’s currency?]   IMHO it looks as if all these “talks” will happen first – THEN the Executive Board will decide and vote on, what to do.  …the next few days are going to be very, very full of activity. Followed up by the IMF Executive Board.   I’m saying – the end of April… up through about the 29th – is a VERY BUSY TIME for Iraq and the world financial overseers.

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BGG (Dinar Guru) –    […what your thoughts on that no float….I did some research and there are advantages and cons about a pegged rate. I read if theyd come out low it will help with trade but on the other hand it could raise inflation.]  Not could – will…it would start an inflationary trend that might not be easy to stop.  IMHO – it will be a “managed float” – meaning: it will look so much like a fixed rate – it might as well be fixed.

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MadDScout (Dinar Guru) –    [Do you think that the IMF meeting with the CBI and GOI this weekend could be the GO/No Go meeting for the Revalue of Iraq’s currency?]  I will offer that it is a very important meeting.  With the frozen funds coming back on line in June seems strategic.

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Breitling (Dinar Guru) – …Think about all the numbers we’ve been watching over the years…we knew what we needed to look for…We always talked about the note count.  The note count has to be going down.  At it’s peak when I got into the dinar…it was 15 trillion dinar…NOT NOTESdinar.  The max Iraq has had is 9 Billion notes which represented about 30 trillion dinar.  So what does that mean?  If you have 1 note that’s worth 25k and one note that’s worth 10k, you can see how there are more dinar than there are notes and that’s why we need to be able to parse those numbers to understand exactly what’s going on.  But the total was 30 trillion dinar out there and they brought that number down by reducing the note count.  So what are we at today?
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Chattels (Dinar Guru) –  Isis ‘minister of war’ is killed by allied airstrike in Mosul.  The highest ranking Islamic State commander in Mosul, described as the jihadists’ minister of war, has been killed in an airstrike.
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BGG (Dinar Guru) –   Article:  “Central Bank Governor: no room to cancel the sale of the dollar window, if canceled, the exchange rate has become 3 or 4 thousand, and perhaps more”    Article quote:  “On the prospects of floating Aldenarabraghi, similar to other countries in the region, Keywords said that it is Matrouh sealed now, and we are working on editing currency and not float, a large difference between the two”  that is a BIG ARTICLE…there won’t be any FLOAT… (no float). PERIOD.
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“Flash Cast LIVE” session Sunday afternoon  w/BGG

Click here for Video Replay

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1bobby (Dinar Guru) –   Article:  “Parliamentary economy talks about the provisions of the law “Trademarks”  As we delved further into what we are seeing is a WTO requirement. The TRIPS Agreement within the WTO guidelines mainly deals with intellectual property protections, it also go into trademark issues. Some ask if this needed for an RV. What it is needed for is promoting trade which is one of the pillars that influences exchange rates.

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Kaperoni (Dinar Guru) –   Article:  “UNDP to Implement E-Tendering system in Iraq”  Quote:  “The UN Development Programme (UNDP)’s Iraq Country Office has announced that, starting 1st May 2017, all procurement processes will be conducted using an online E-Tendering system (Electronic Tendering Platform).”   Good to see.  More electronic, less corruption.

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1bobby (Dinar Guru) –  Article:  “Iraq and Kuwait to discuss mechanisms for achieving economic complementarity”   When they speak of “mechanisms” that means that the substance(s) of the agreement have been met, now they are looking towards implementation. Kuwait and the other ME Countries are learning that they can not survive by oil alone and they need to open the doors to more of a non oil revenue based economy.   Iraq has lifted a ban that basically gives the right to Kuwati citizens the right to own property and invest in Iraq.  Now Iraq wants the same from Kuwait.  Kuwait calls Iraq “An important and promising market“.

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The Baghdad International Fair is due to open at its 44th session

The Ministry of Commerce announced the launch of the Baghdad International Fair in the next 44 session for a period of twelve days, the opening of this session, which was scheduled in early November coincides with the visit of the forty martyrdom of Imam Hussein peace be upon him.

Engineer Hashem Mohammed Hatem, Director General of the General Company for Exhibitions and Commercial Services of Iraq, said that the ministry has submitted the date of the 44th session of the Baghdad International Fair for a period of twelve days, to be 21-30 / 10/2017 instead of the first of next November.

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

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DayTrader, a News Researcher for DinarUpdates.com, recently had some interesting commentary.

Here are his thoughts:

Article 140 is much more complex than many realize. If you read Article 140 in the Iraq constitution, it refers to Article 58 of the Law of Administration for the State of Iraq for the Transitional Period that outlines all the steps that must be completed. This was a document constructed by Paul Bremmer to be used until a permanent constitution could be developed and ratified by Iraq. Article 58 states:

Read More: http://dinarupdates.com/blog/

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BGG (Dinar Guru) –   […I saw the ad for Zain prepaid phone cards in denominations of 250, 500, and 1000 IQD. I would assume they would be similar to 25, 50, and 100 dollar cards. Is this then telling us they are removing 1 zero and not 3? Not sure what to think.]  Could just be moving toward increased value.  I highly doubt they “take off one zero” since the whole “three zeros project” isn’t about nominal value – or moving the decimal point. It’s about increasing the value.

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Kaperoni (Dinar Guru) –   Article:  “Jubouri Kubiche: The victory of the security forces returned to the political stability of the country”   ...if Iraq was waiting for this (as they have said over and over) then yes, it should be a sign of good things to come.  That being said, I continue to believe the CBI must meet compliance with the IMF before anything currency related can occur… and they are not in compliance.
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Kaperoni (Dinar Guru) –   Delegation from US Congress visiting Iraq says…”Iraq on the verge of a big boom.”
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Loop (Dinar Guru) –   Article:  “Head of the IMF mission’s (term) interest peg to the dollar rather than a large reduction of the Iraqi economy”  The head of the IMF mission in Iraq is answering questions.  THe IMF is saying that to decrease the value of the dinar against the dollar would only lead to inflation and that the CBI has the needed reserves to support the economy.   [we certainly dont want it devalued any more. It won’t. THere is no reason for it. Their economy is expanding so why on earth would the throw it into reverse?  Just like I do not think a float is going to happen.  They also are saying that there is no issue with the debt that they have taken on to support the country as long as the follow the process as outlined in the SBA.

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BGG (Dinar Guru) –   The BIGGEST article of the day…  “Director of the Issuance Department of the Central Bank: Printed currency volume exceeds 11 billion and 600 million dinars”  (the title is a little weak for the content of the article)…the title should have read RV- RV- RV!!  Quote: Most of the Iraqi Central Bank steps are subject to political and legal environment of the country, especially in regard to the deletion of zeros…”   …this is what you are after – EXACTLY. PERIOD.   it’s isn’t a removing of the 000 from the notes…it isn’t a changing of the DECIMAL POINT…it isn’t a change in the nominal value…IT’S A CHANGING OF THE REAL VALUE and A BRINGING IN OF THE BIG NOTES… “…deleting the big 000 notes from the market place”  = RV.   [post 1 of 2….stay tuned]

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BGG (Dinar Guru) –  …they have no intent on bringing out any bigger note classes – THEY DON’T NEED IT… value is going the other way…nowhere in there does it mention Article 140 – HCL – or anything else… nor does it bother to mention any laws needing passed… just a few changes. (aka – AMENDMENTS)  [Also key phrase is “where it should be FOLLOWED by” Meaning the laws should be changed AFTER.]  BINGO!  money first – laws AFTER!  why? They need to get this done now! This is about as much heads up as they are willing to give anyone…if they change the laws ahead of time – EVERYONE WILL KNOW.    BIGGEST PIECE YET…here it comes…  “On the other hand, the technical preparations are underway by us.”  Meaning – on the other side of everything he’s said so far… they are and have been already making technical preparations (by the CBI).  Pretty plain – if you ask me…pretty huge news...   [post 2 of 2]
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MadDScout (Dinar Guru) –   Article:  “Rasheed Bank directs its branches to open documentary credits to public and private sector companies”  Another way of getting business used to the banks.  There is gobs of banking reform news out there.   ...it has not always been this way.  These are the many gears that are turning  So to ask about hold ups is to not have a good grasp on what this whole situation encompasses.
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Delta (Dinar Guru) –    MASTERCARD SHOWING IQD NOW.  1 IQD = 0.000888 USD.  ANOTHER ONE IS SHOWING NOW BLOOMBERG…COME ON CBI JUST DO IT.
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MadDScout (Dinar Guru) –   [As we look for signals of a rate change coming, are there any similarities we can find with other countries who have been through this?]  …I would say this is a very unique situation, as compared with other countries situations, and as BGG put’s it, “there is no actionable intel”.
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Eat Well – Lose Weight!!

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Director of the Issuance Department of the Central Bank: Printed currency volume exceeds 11 billion and 600 million dinars

Most of the Iraqi Central Bank steps are subject to political and legal environment of the country , especially in regard to the deletion of zeros that counted specialists in the earlier trend sensitive and dangerous may still be , but the central remains the most important institution in terms of the need to adjust the financial management in light of the financial crisis experienced by the the Iraqi economy, which must have to deal with dilemmas , whether with regard to the citizen or the work of the central bank itself.

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

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1bobby (Dinar Guru) –   Article:  “Office: Abadi agreed with the delegation of the Kurdistan Region to remove obstacles that prevented the activation of Article 140”  The infamous Art 140 is in the Constitution, just not activated and or implemented. Now 140 does not cover all of Iraq, just Kirkuk and the disputed territories, Kikuk being ground zero.  With Abadi agreeing to remove all obstacles to implement 140 is a HUGE step forward and something the Kurds can work with. Now while there are numerous cities/districts covered under 140, Kirkuk is the main concern. Kirkuk sits atop one of the largest oil reserves in Iraq, most reports estimate over 40 billion barrels of oil.  …If Abadi is willing to remove the obstacles, then the Kurds will control Kirkuk. This action does not require a Parliamentary vote since it’s already in the Constitution. What Baghdad wants is what the constitution states “All oil within Iraq belongs to all Iraqi’s“…So if the Kurds get what they want, Baghdad will want all oil proceeds to flow thru Baghdad and then %’s will be distributed accordingly.  We’ll just have to let this play out and see what they do, not what they say.
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MadDScout (Dinar Guru) –  [What’s left before NEEDED to be taken off programmed rate?]  Answer: That is what we are watching for. But from CBI (Alak’s) view, they are looking for stability…social, political, economic, security, take your pick as to how much of each of those goes into the criterion they are looking toward.
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Kaperoni (Dinar Guru) –  Article:  “The call for legislation of “important” laws before the end of the parliamentary session”   Quotes:   “The oil and gas laws, the Reconstruction Council, the Federal Service Council and the Federal Court Act, as well as the amending law of the amnesty law, are among the most outstanding laws that should be resolved as soon as possible,” the bloc said in a statement.”   “noting that “the need to resolve to see the light soon.”   …the only wildcard is if the US, UN etc get involved.  We have seen in the past when something must be passed, it is done so with a little pressure.  If the doors are ready to open, be assured what law or laws need to be passed will get done.
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Iraqi Dinar/Dollar auction 04-20-17 (most recent listing)

Currency Auctions Announcement No. 3427

This daily currency auction was held in the Central Bank of Iraq on the 04-20-2017

The results were as follows:

DETAILS NOTES
Number of banks 37
Number of remittance companies 11
Auction price selling dinar / US$ —–
Auction price buying dinar / US$ —–
Amount sold at auction price (US$) 168,067,601
Amount purchased at Auction price (US$) —–
Total offers for buying (US$) 168,067,601
Total offers for selling (US$) —–

More: http://dinarupdates.com/blog/
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MadDScout (Dinar Guru) –  [We have always heard when article 140 and HCL are put into place and activated we should see the rate within hours of implementation. We know Mosul is a key part. Can they implement HCL and Article 140 on a program rate?]   Answer:   That theory is old and unfounded, and tends to put events in the wrong order, according to what we know right now. Being as this is never mentioned in any of Alaks statements when asked about what the CBI needs to make full monetary reforms, I have put it out of my vocabulary.  As to the third part of your question, can they implement 140 at program rate, I think it is so far in the future (Art140) they will have a “rate” by then. But IMO one doesn’t equal the other. They are stand alone issues, unhinged one from another. Rate is only important to us.
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Kaperoni (Dinar Guru) –  Article:  “Abadi: Two months separating Iraq’s exit from Chapter VII”  [It would seem that Iraq’s removal of Chapter 7 would occur before the dinar becomes marketable and begins to float…]    …though it’s important for Iraq to have it’s own currency once sovereign, I do not think they are directly related. When the dinar floats is a more of a decision of the CBI based on monetary policy. IMO, I do not expect it to begin until just before foreign investment begins to pour into Iraq.
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