Kaperoni (Dinar Guru) – Some people have said the CBI has been closed since last weekend due to Eid al-Fitr. Now that Ramadan is over it will be interesting.
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Kaperoni (Dinar Guru) – …The CBI never talked about people around the world bringing in their currency to Banks… The 10 years is the fact that the CBI will honor their currency nothing more. …all currencies go up and down… Why do you think they go up and down? Because they float. It’s funny how many want to jump on the IMF bandwagon when I proved that the CBI must meet compliance before they could move to Article VIII. Yet those same people won’t give any consideration to actual IMF statements about moving to a more liberal exchange rate regime… because it doesn’t fit their RV, RI agenda!… Whether you agree with me or not...the fact is there will never be an overnight RV, RI event. The very thought of such a thing is contradictory to the purpose of monetary policy to begin with. There is a process…it is the same for any emerging-market country.
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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
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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.
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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.
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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.
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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…)
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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.
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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…
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Kaperoni (Dinar Guru) – 3 days now passed the 3-month IMF requirement, CBI continues to be in compliance at 1200 to $1.
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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)
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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.
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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.
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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…
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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!!
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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.
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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]
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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]
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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.
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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.
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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.
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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.
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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.
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Kaperoni (Dinar Guru) – Down to 4 days to meet compliance. [IMF’s Market Rate vs. Official Rate within 2% for 90 days rule.]
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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…
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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
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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]
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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]
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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.
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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.
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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.
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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.
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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.
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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
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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.
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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.
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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.
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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”.
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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.
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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.
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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)
615-509-6256 (BGG)
P.S. You are welcome to PM me on FaceBook for more (currency related) info as well.
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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.
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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!
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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.
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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.”…
Read more: http://www.dinarupdates.com/blog/
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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!!
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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.
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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…
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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
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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.
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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…
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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.
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Source reveals the meeting of Abadi and Sadr .. conditional Second Term!
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
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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.
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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.
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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…
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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
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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…
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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.
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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.
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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
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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.
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Stryker (Dinar Guru) – Abadi still has time to shine these next few weeks, and gain his second term along the way!
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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…
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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)
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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…
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Kaperoni (Dinar Guru) – Our unofficial IMF compliance countdown clock for the 2% compliance is now at 30 days to go.
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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.
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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)
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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.
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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.
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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.
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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.
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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%.
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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
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Kaperoni (Dinar Guru) – Today is election day in Iraq. So far, it appears that al-Maliki and his coalition has lost in the elections.
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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).
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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…
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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!
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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.
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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!!
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Post RV Checklist (it’s getting to be that time!! Listen up!!)
Dos and Don’ts of Windfall Wealth:
Treat it like a PowerBall win
– Tell no one, not even family. If you must talk, do so with one who is already in the know.
– Don’t run out & buy new “stuff”. People notice.
– Get an unpublished number and give it out very sparingly.
– Get a tax accountant you can trust to make sure the IRS is satisfied (Certified Opinion is something to look into) and pursue asset protection…
Read Complete List: http://www.dinarupdates.com/showthread.php?18519-The-Post-RV-Checklist-and-Flashback-documents&p=128477#post128477
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