DINAR OBSERVER DAILY June 1st

Welcome to the Dinar Observer – Daily. For regular Dinar Updates, to see what the Dinar Gurus have to say, Dinar to USD listings, IQD and for Iraqi Dinar info – THAT MATTERS!! This is a good place to start for your Daily Dinar Recap – whether you are a Dinar vet or just looking for a little current Dinar info – Welcome.

Word for the day…

Mrs. BGG

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CURRENCY CODE SELL BUY

Dinar to USD – Dinar Value – Iraqi Dinar “IQD” listing

CURRENCY CODE SELL BUY
US dollar USD 1182.000 1180.000
Euro EUR 1320.058 1319.398
British pound GBP 1732.103 1731.237
Canadian dollar CAD 909.021 908.566
Swiss franc CHF 1193.337 1192.740
Swedish krona SEK 142.612 142.541
Norwegian krone NOK 142.218 142.147
Danish krone DKK 177.507 177.418
Japanese yen JPY 10.755 10.750
Special
Drawing Rights
SDR 1661.691 1660.860

http://www.cbi.iq/

Indicative rates – 05.31.2015

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It’s not enough that we do our best; sometimes we have to do what’s required. – Winston Churchill

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*** Current News ***

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tlm724 (Dinar Guru) -   Quote from Minister of Planning site:  “Planning Minister … announces the completion of the draft national development administration (IDMS) with support from the US Agency for Development“  which is the first of its kind in Iraq and help the government on the management of financial resources to achieve transparency and the fight against corruption and provide the exact mechanisms…theres the transparency on a national level the IMF requires…well done Iraq!
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Frank26 (Dinar Guru) -    …Monetary Reform…leads all the other reforms…you can’t have the other reforms without the MR…and the reforms…  they are ahead of schedule…with all reforms…   MR…leads all other reforms…and all…three letter agencies are watching them do this…and one of them is guiding them with every step…the IMF…to create the MR and once again become the Mecca of this planet earth.  I told you last Monday…they got the loan…why did they get the loans…so they could qualify for an improved credit rating…  a new credit rating…will allow us to have a base credit with all the other international countries that we are now connected with our banks to do foreign international business with…Iraq’s financial liquidity will improve after the IMF loan…the Monetary Reform according to our TEAM/FRIENDS is going well…IOO (In our Opinion)…the MR is dealing with the banks of Iraq…and it is dealing with the money changers of Iraq…because they are going to step out of their old ways…and they are going to go into an international global market very soon.  In fact…IMO…they are already there.
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Urgent Cabinet approves the Supreme Judicial Council Act

{Baghdad: Euphrates News} cabinet today approved the draft of the Supreme Judicial Council Act, which Dqgah the State Consultative Council.

A source in the council told {Euphrates News} “The Council approved the referred the bill to the House of Representatives based on the provisions of Articles {61 / I and item 80 / item II} of the Constitution, taking into consideration ray General Secretariat of the Council of Ministers ..itba ..

Read More: http://www.dinarupdates.com/showthread.php?35243-Urgent-Cabinet-approves-the-Supreme-Judicial-Council-Act
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wmawhite (Dinar Guru) -   …Iraq (including Kurdistan) has already walked through the door and into the global economy markets. The IMF told you this a few days ago. Plus, the IMF also told you that Iraq is compliant with the requirements and that they are mandatory…i,e,…Article 8 (IMO).  Abadi has never left the lime light…the world recognizes the mountain he has to climb and he stood before the world economic powers in Davos, SW and told the world that Iraq will join them on their stage.   …he would never be able to get upon that stage with a currency that represents Iraq if it is valued at… $0.00086.  IMO…he would be laughed at…   It is coming.
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Poppy3 (Dinar Guru) -   [IMO the one and five year charts for oil are at a key inflection point. There is some resistance at $50 and it has not broken through and held but the next run through $50 that holds would indicate a straight shot to $60. Thats a wonderful thing...]   oil charts negotiation and deal rates will not change till june 30 for the middle east lobbyist…be patient we are coming to the end of our journey.  I JUST GAVE YOU A HINT HOW MUCH LONGER…TO THE POSSIBLE END.
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War: The pleading of the Federal Court on 29/5 made a judgment soon

Follow-up / Iraq today - Confirmed the legal expert Tareq Harb said the hearing conducted by the Federal Supreme Court on 05.29.2016 was almost close to resolving the case and semi-close in favor of one of the parties to the proceedings at the appeal hearings of Parliament for the month of April 2016,

particularly after the agents parliament speaker presented photographs and CDs, documents and films attendees and non-attendees at those meetings are the subject of disagreement and the matter of the proceeding,

Which supports the point of view of the party and in exchange for that, the agents of the other party any front reformist and sitters to hasten to refute the conclusions reached and the agents of the other party so that said Mlhozathm these documents and share some MPs from the Reform attending mass, said the war

“where asked permission of Representatives of the Court to talk, and after the court authorized them spoke MP architecture Ihsanoglu one Governing Council of Representatives on the list that includes the signatures of Representatives, which exceeds the quorum here responded agents other party that signed something and the audience is something else…

Read More: http://www.dinarupdates.com/showthread.php?35235-War-The-pleading-of-the-Federal-Court-on-29-5-made-a-judgment-soon&p=153389#post153389
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Kaperoni (Dinar Guru) -   Article:  “Release of funds for the displaced through smart cards next week“  Quote:  “the Ministry of Finance promised to secure finance financial grant for the disbursement of the next week and distributed to displaced families exporting them to the smart card“  [...they don't even have consistent electricity in many parts of Iraq, so it seems as though use of the cards would be problematic.]   Though electricity remains an issues in many parts of Iraq, merchant card readers are rechargeable/battery operated.
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BGG (Dinar Guru) -   [What do you feel is the key or keys remaining?]   that is a good question – however, with the timing of the recent support, IMF/WB oversite…their insistence on some level of control…and the aggressive movement against ISIS from every direction…things are absolutely moving in a very good direction for Iraq…and as a side note…Abadi has the support of the Kurds, Sadr, the US and the IMF/WB (aka – BIG MONEY)…that is a pretty powerful (and unlikely) alliance he has cobbled together. …they button some of this stuff up – POST HASTE and we will see a giant leap forward in Iraq’s financial system…it’s all pointing that direction…
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Iraqi Dinar/Dollar auction (most recent listing) 05-31-16

Currency Auctions Announcement No. 3210

This daily currency auction was held in the Central Bank of Iraq on the 05-31-2016

The results were as follows:

DETAILS NOTES
Number of banks 29
Number of remittance companies 18
Auction price selling dinar / US$ 1182
Auction price buying dinar / US$ —–
Amount sold at auction price (US$) 134,305,728
Amount purchased at Auction price (US$) —–
Total offers for buying (US$) 134,305,728
Total offers for selling (US$) —–

More: http://dinarupdates.com/blog/
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rcookie (Dinar Guru) -   THEY HAVE BEEN WORKING WITH WORLD BANK SINCE 2008 TO RESTRUCTURE & PRIVATIZE THE SOB’S…AND THE BANKING REFORM IN LAST YEAR HAS BEEN AT BEYOND WARP SPEED…  THE US PANEL IS IN BAGHDAD SETTING UP SHOP AT US EMBASSY TO OVERSEE CBI IMPLEMENTATION OF AUCTIONS GOING FORWARD…IT IS COMMON KNOWLEDGE AS TO WHY IT HAS FAILED AND IRAQ HAS HAD ADEQUATE TIME TO REMEDY///THE US IS TAKING OVER…   I AM NOT CONCERNED WHATSOEVER AS THE NEWS REFLECTS INCENTIVIZATION AND PATH FOR IRAQ TO ACHIEVE ECONOMIC & FINANCIAL REFORM…
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tlm724 (Dinar Guru) -  Article quote:  “…the arrangements made by Iraq with the International Monetary Fund represents a prelude to Moisrh the international community for Iraq and take it out of financial distress…”  This just solidifies all the evidence we have seen indicating that the IMF has taken control and will lead Iraq to the promised land of a free market economy and international status including and not limited to full membership in the WTO and a recognized dinar that will trade freely.  All these things are an established economic plan used by many emerging economies! Our ship is coming in…and the IMF is indeed at the helm!
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tman23 (Dinar Guru) -  …Shaways was on Kurd TV speaking in interview and said Abadi has agreed to pay Kurdistan for 2014, 2015, and 2016…This coming July…So to put it in a nutshell…Abadi has the power and certainly expecting to have the money…otherwise HE WOULD NOT MAKE THE COMMITMENT…IT WOULD BE THE BIGGEST MISTAKE IF HE BROKE ANOTHER AGREEMENT.
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BGG (Dinar Guru) -   Article:  “Kurdish blocs announced their support for his reformist Ebadi  So the Kurds are announcing (telegraphing) relatively broad-based support for Abadi’s reform project...This is interesting in light of the fairly severe splitting of the National Alliance and crumbling of Maliki’s support base…and the mostly ineffective political attacks his crooked bunch carried out in Parliament lately…they are doing everything they can to slow walk things…surprise surprise.  Sadr is backing Abadi… (that’s about 4 Million protestors over the last several weeks)…it’s like having 2nd Amendment protection – but made up of human bodies.  The Kurds are backing Abadi – (as per today’s PR releases)… This is all very good news.
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For a peek at all the most up-to-date DU News – check the Iraq News Thread (in the forum)…

http://www.dinarupdates.com/forumdisplay.php?5-Current-Iraq-NEWS
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Kaperoni (Dinar Guru) -   So now Iraq is in a quagmire. They are being forced to make changes with monetary policy…changes that will benefit us as investors. The plan calls for ending the auctions (they must have an alternative if they do that such as float), getting off the peg, moving from Article XIV under the IMF to VIII when the conditions allow it. But they key for any of this to succeed is the Iraqi politicians to create the right economic atmosphere so the plan will succeed…which seems to be the biggest question…if they can.   [post 2 of 2]
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Kaperoni (Dinar Guru) -   Iraq dropped the ball big time. They had a window of time from about 2010-2013 in which under Article XIV, they were meeting the guidelines the IMF requested and at the same time, profits were high due to high oil prices, etc. Unfortunately, Iraq chose to steal as much money as they could during that time, than do what was right.  Now, the conditions have changed, oil prices are 50% or more less than that period, revenue is less, Iraq cannot meet its payroll, or other investment obligations…as a result everyone is complaining that the auctions, the peg, etc. no longer works…which is true,,especially if they ever wanted to get the dinar out convertible/tradable on a global scale.  [post 1 of 2....stay tuned]
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