" The Daily Dinar " ..........THURSDAY, 04 July 2013
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Thread: " The Daily Dinar " ..........THURSDAY, 04 July 2013

  1. #1

    " The Daily Dinar " ..........THURSDAY, 04 July 2013

    Energy Commission Member: Commission likely to approve oil and gas law (HCL) during the current session of Parliament

    {Baghdad: Euphrates News} likely a member of the Commission on oil and energy parliamentary Furat al-Shara, that the House of Representatives approve oil and gas law during the current Alldorth, noting that this law comes after the Constitution in terms of importance.

    He said al-Shara told {Euphrates News} on Thursday that “there is serious intention, and mettle high to approve oil and gas law and vote on it during the remainder of the legislative term of the Council of Representatives,” noting that “the delay in the adoption of this law was the result of political differences, and intersections Administrative between the government Federal and the Kurdistan Regional Government and between the political blocs. ”

  2. #2
    Thursday post from TDurden

    I first want to say It has been a long time since I have publicly posted anything but I have missed many of you. Unfortunately the real world caught up to me for a couple years and I had to focus on that. However, I have not been too far away I wasn't paying attention. I also wanted to say that I am not TD. I have had many people ask me and thought it might be a good idea to try and clear that up. I do not know or have anything against this person, but as many know I differ in opinion from him. I also want to make it clear I came back to post to make sure people had their heads up and were excited and prepared for the next part of their lives. I am amazed at how far some of these GURUS have taken things and it is very sad.

    So with all that being said I want to give an update on where we are because it seems a lot of people are throwing different ideas and thoughts around. For many years now there have been times at which this was supposed to happen. But of course each time being a let down. We watched UN meetings and agreements being made and bank rumors out the A$$. Many times we would get information from one person that knew a guy somewhere but could never get confirmation, but we were excited. So we kept going, . Now I know most of you are wondering where I am going with this....Well as of right now, we are closer to being done than we have ever been. We have seen more things happen In the past 2 weeks than we have in 7 years.

    We have seen agreements signed, parliament members actually showing up to vote. Iraq getting out of chapter 7, the list goes on. We also have "Intel" being confirmed (which is huge). We have banks really ready, we have the UST making adjustments, we have Basel III getting implemented. We have gold moving all over the world (Do you really think it dropped that much because of the market). We have Iraq having to pay bills right now and wanting to buy weapons, which we saw today. We also have Chapter 7, and for them to get out they had to agree to RV. So all of this tells me we are within a week, maybe 2 of being done (intel says the same).

    Now in regards to the rate. It will not LOP, it will not start low and come up, it will not come out at a teaser rate then RV again. It will also not be a free float. You have to realize this country has to be stable. They do not have a choice. If you just look at contracts themselves, the rates have to be fixed. They also have to be high enough that big investors like hedge and mutual funds can not manipulate it. So a rate of 3.44 makes the most sense. I have always thought above 2.75 however with the amount of resources they have and the money moving around the world right now. 3.44-3.86 makes sense. Now I will also tell you the banks are ready for us. Some more than others but they are ready. So you should all be excited.

    I also have some advice for you. In a previous life I was an Financial Advisor and how you handle your money after this will be the most important and difficult thing to do. So what I would like you to do is meet with different advisors, preferably with a CFP. Dont take your friends advice on who is good, meet with several and even if someone has been in the business for years does not mean they are good. It just means they can network well and have some rich golfing buddies. A CFP tells you they have studied to get to where they are. You also want to meet with an estate attorney to set up trusts, many of you will have estate tax problems and you do not want issues for your kids. Meet with a CPA and Tax Attorney. They are different so you will probably need both. And lastly an Insurance advisor, they will all go hand in hand.

    I want to finish with this. I have spent almost 7 years talking to many of you. It has been an amazing and difficult ride. I have seen people come and go. I have seen people fight on boards and skype rooms. I have seen people go through horrible real life issues and keep moving forward. But I want to encourage all of you to share and become better people because of this blessing. Money amplifies what type of person you are. Hopefully it will make all of you better people and allow you to make everyone around you better.

    Thank you and good luck to all of you



  3. #3
    TD Comments on Kaperoni info

    I'm glad KAP weighed in on this article BECAUSE I had a email from my GOI contact about this VERY ARTICLE and he informed me that the key word "TIMID" translates to "SLOW PACED" in terms of their efforts of currency reform.

    It really summarizes well what's going on and what their intentions are as the process unfolds. The article also states how already the value /need of the dollar is seeing a decline as Iraqis DO UNDERSTAND that sooner or later their IQD will be once again the operating apparatus as now they are sovereign.

    But it is a process : stabilizing the rate, eventually peg equal to the dollar, deletion of the zeros, introduce the lower denoms, have market forces drive up the rate and eventually start to see it settle.

    Of course Dinarians want this done with & ready to served on a silver platter yesterday but let's face the reality that it took 10 years to be sovereign and Iraq has been told to do things in a thoughtful, steady , calculated way ( by the world & IMF, etc.)

    I did hear Monday from my source that they already put A PLAN out there but it was rejected by the IMF.

    So patience is required. And by the way , there is many school of thoughts with the finance committee ,CBI and newly formed economic joint commission all weighing inputs and coming up with plans.

    One note to debunk here cause it keeps coming up a lot in comments, posts , etc. and that's the notion that Shabbibi said this, said that, wanted to do this & that. Shabs is GONE ! past history.

    I understand thru my contact that he is a consultant working for the IMF now and advises Arab governments in the mideast mostly BUT NOT IRAQ. There's a lot of bad blood between the Maliki administration and Shabs.

    Maliki though evidently will retire when his term is up ( no he doesn't want a second term and the PTB won't let him anyway). So Shabs may return to Iraq then but make no mistake Turki is the man and the IMF is OK with that.

    KAP , Yesterday's Branch Manager, many others and I do see a float coming (500-1 is only an example, no one know where it will start) and in this way if you sit down with a calculator our best percentages of ROI are under this scenario.

    As I also mentioned yesterday another concern is the WINDOW of time they will call in and retire the old notes. In this way they can manipulate our ROI.

    Whether you want to accept it or not : Any transformation (I'm told emphatically) to a high rate ( $3-4 ) will be coupled with the removal of the zeros and consequently a 30-40 % ROI. Look, I'm positive I speak for KAP & others when I say we all want a bigger ROI.

    Again I must reiterate there are numerous plans I'm told being worked on and our best time table to see acceleration is after Ramadan : late summer, early fall. Can they put another plan on the table to the IMF and we are a GO, yes, but unlikely.

    And lastly I must answer those that put KAP, Others and myself in the camp of "Negativity". Truth is WE are investors who certainly want the best returns.

    I admire DOC (on another channel) who is cool , calm & collective in his remarks and evaluations. None of us has all perfect answers but to brand us as "THE NEGATIVES" is a bit insulting guys.

    We truly hope the best for all of you and your families too , especially those who write in daily about losing their homes, closing businesses, etc. All parties : Iraq, Countries , Companies itching to invest there WTO, IMF, Dinarland all want success and ALL WILL SEE IT (but not today).

    As KAP just mentioned here in his closing if you concentrate on the process connected with the IMF articles and Iraq Articles coming out giving us clues rather than hanging on daily BS & lies, ( I call it a spoonful of DAILY DOSE of DECEIT : DDD) you'd be better off.

    And BTW, I was told by my source that the GOI is committed to "telling it like it is " with their articles/press releases. I know a lot of you have been told a lot of misinformation will arise (like Kuwait decades ago) but No , they want to be a New Iraq that is respected. Still though as he said "look for clues in articles". They are not just going to say "RV tomorrow".

    I know it's so enticing to believe the plane is landing and you want to jump for joy but please let's ask ourselves this (in fairness) how many years now have we been told that ? Stay grounded and be a realist !

    To all a very happy Independence day. To our brave men & women through our illustrious history and their families : We can never express enough our gratitude. You are the reason that this is the greatest country of the world.



  4. #4
    Kap Discussion

    Kaperoni: Timid rise in the value of the dinar was accompanied by a decrease in demand for the dollar

    BAGHDAD / tributary cactus - Experiencing the local market at the present time high shy of the Iraqi dinar against the dollar amid expectations of a number of companies and shops owners banking increase in the value of the Iraqi dinar in the coming period because of the touched lack of demand for the dollar and keep the citizen because of belonging to the local currency.

    Says the director of Al Anwar banking and financial transfer in the Harthiya Mohammed owner that "demand for the U.S. dollar fell to a remarkable", noting that the citizens preferred to keep the local currency reverse of what it was in the past.

    He adds in his speech to the extent that "the decision to remove Iraq from Chapter VII of the impact on our business since the first day price of the dollar fell dramatically.

    For his part, saw Muhammad retribution SAB replace banking in the Mansour district to the extent that "the increase in the value of the Iraqi dinar natural, so why is owned by Iraq of hard currency abroad, noting that it funds the sale of oil received by Iraq in U.S. dollars, and the abundance of this currency increases the drop height of the dinar.

    And retribution expressed happiness increase the value of the Iraqi dinar, albeit a slight rise somewhat, but it is expected to reach a value to higher limits comparable to the U.S. dollar in the future.

    And retribution student based on the economic side of the country, including the central bank to prepare for any sudden movement in the high or low value of the dinar on the grounds that the decision is still new and can not be known to the dollar fixed price at the present time.

    Within likely Fadel Mayali, an Iraqi trader to rise more the value of the Iraqi dinar after the maximum speed which rose due to remove Iraq from Chapter VII, stressing that the Iraqi trade depends mainly on the dollar may not get upset at the outer level.

    Mayali said to the extent that "the constant value of the Iraqi dinar previously is 118,000 dinars for $ category percent And that the rise in previous periods was a result of the political conditions expected to return to that value.

    Mayali stressed the need for the government bodies are ready for market movements and exchange rates against the dinar. In the meantime, expect the Ministry of Commerce and the Federation of Chambers of Commerce to see the Iraqi market in the coming months mobility qualitatively in the buying and selling, especially after the withdrawal of Iraq from Chapter VII.

    Khairallah says Hassan, Minister of Trade in a press statement: economically Iraq be the day after his release from Chapter VII economic free in dealing with many countries of the world With adds Jaafar al-Hamdani president of the Federation of Chambers of Commerce:

    Yesterday was international companies fear many from entering Iraq and the capital was worried about a lot of Iraq, today believe they stage an opportunity for all Iraqis, especially the private sector in order to build a partnership project with the Iraqi government in the process of construction and investment.

    In the meantime explained Mahmoud Laithi, the member of the Federation of Chambers of Commerce: we must unite and fight terrorism and fight corruption and the corrupt even stand up the Iraqi economy is good. LINK

    Kaperoni: You all pick up on this... "the increase in the value of the Iraqi dinar natural," Let's play hangman...lol F _ O _ T

    tusco1: Could this line also be interpreted as the dinar naturally stabilizing due to the release of chapter 7, and not necessarily referring to a future float? It says in the line you highlighted above "the decision to remove Iraq from chapter 7 of the impact on our business since the first day price of the dollar fell dramatically."

    Tgirl: F_OAT --I report...you decide.

    Corvetteman: FLOAT BABY FLOAT!!!

    Timsters: how come i dont see it rising on any of the forex sites ? and i know its not internasionally traded yet so how can we tell where its foating ? just because they say it is riseing . help me im confused tim

    Geezer: Tim, they have to move from Article 14 to Article 8 of the IMF Charter to be recognized internationally BEFORE it will show up on any forex sites. Am I correct Kap?

    Punisher: The part I like is this.... but it is expected to reach a value to higher limits comparable to the U.S. dollar in the future.

    Timsters: lol ( future )!!!!!!!!!!!!! tim

    U mad bro?: I like that part Kap! Also, this part is really good. "but it is expected to reach a value to higher limits comparable to the U.S. dollar in the future."

    BlueyesinLevis: No change in value until the CBI moves off of that artificial program rate of 1166. Them talking about the street rate is significant to them... to us? Not so much.

    U mad bro?: Oh. And I will take a W Kap. . F L O W T LOL

    Paxx: I hope the Iraqis stop messing with dollar now and demand their Dinar. They need to continue the trend of using Dinar to give the message to the GOI and CBI to float the currency and open it up on the forex. Plus,remember all of the articles that they want foreign investment, they need to have the Dinar float but that also have to have internationally tradable tobring in foreign investors. Come on Iraq, take your place at the table.

    Johnlin: At lest we are finally seeing progress no matter how low it might seem to all of us. I believe we should see something soon.

    BelievingInTheBest: The continuous "slight" increase of the dinar could be due to the decrease in the value of the ever abundant USD over this time. Even so, Turki; send that letter!

    Punisher: They always say soon and in the coming days, but never saw them use the word future before...let us hope near future lol....

    Tobyboy: Punisher I think future to them is worse than soon or in the coming days :lol:

    Punisher: I hope not. The fact they never use it should be good. Lol. I know, sounds silly.

    Tomceejay: Kap, I got it. FLO IT, or let it flow

    Kaperoni: Timsters, this is a really easy question...

    The CBI monetary policy is a closed system. What we read about each day is what happens only within Iraq. This closed system is by design to maintain stability, lower inflation and develop the banking system.

    The goal, once those are achieved is to open the banking system and interact with the global system. And we knew Shabibi tried twice to do that..which Maliki personally stopped.

    Now the rate within the closed system is pegged to the USD. Meaning it cannot rise or gain in value on the dollar, only ride the same wave as the dollar. So as the dollar moves, so does the dinar.

    If they want to change that, only the CBI can by raising the value (closing the gap between the dollar and dinar). But in the meantime, it remains 1166 to $1.

    The confusing part is the street rate or black market rate. Several articles come out and say the dinar is rising, etc and your question is "why can't we see that?" If you lived in Iraq you would as the daily prices of dinar go up or down based on this rate..and is reflected in the cost of goods.

    What the CBI wants to do is to try and get the street price of the dinar with 2% of the real price at the CBI. And that is what we have been seeing in recent weeks.

    Many people get confused and look at FOREX or other foreign markets and see the dinar going up or down and think it's moving, rising etc. When in reality, this is a mirage.

    The dinar simply exists on these markets and cannot participate yet. What you see on these markets is what I stated above is the "wave" of the dollar.

    What we hope for soon is the dinar to enter Article VIII of the IMF. At which time the CBI would change it's "peg to the dollar" and as several articles state..."where the value would be determined in the market, according to the forces of supply and demand."

    This change would open the dinar to the world banking system and allow all of us to really watch the price of the dinar rise.

    Hope that helps. Here is a great link done by Enorrste on this subject...


    Punisher: In a piece Admin Bob put up hours ago "3 steps to maintain the exchange rate" they say they have achieved good results so far...I hope they are geting closer to that 2% gap.

    Timsters: yep it did kap now my question is when we were releast from chap 7 i thought we would see the move to article III. so i guess we are waiting for that 2% gap before we will see that happen am i right in my thinking? tim

    Tripphood: Kap, I thought that after ch7 we would see the chains fall off so to speak. So now we are waiting for them to be released from something else.....

    "What we hope for soon is the dinar to enter Article VIII of the IMF. This change would open the dinar to the world banking system and allow all of us to really watch the price of the dinar rise"

    So what are we looking for exactly? What qualifies them to enter Article Vlll? thanks in advance

    Kaperoni: I have stated on numerious occassions, there is no direct connection from UN Chapter VII to making the currency internationally recognized/IMF Article VIII.

    The only relation I found is that a country that belongs to the UN, agrees to follow the Charter of the UN. And that ecompasses the IMF Charter which is part of the UN.

    Therefore, Iraq has an obligation (we don't know when) to transition from Article XIV to Article VIII (this is self imposed and they just write a letter to the IMF to make the change).

    Looking at other emerging markets, I am sure there are several who are not under any UN sanctions, yet still maintain a closed monetary system under Article XIV. IMO, This is more about "when they are ready" then... "do it because you have it."

    We also know Maliki has a "weak dinar" policy so he would like to keep the dinar weak as long as possible for whatever his reasons are. There was a document I discussed some weeks back that clearly indicated that countries cannot build a free market economy if they dont embrace and interact with the global market and banking system.

    That article was very specific that it is absolutely imparative if they want to be successful. So that is on our side for sooner rather than later...and I am sure they are being pushed in that direction (articles seem to imply that). That being said, Iraq needs to pass laws before they are ready.

    These are the same laws we have been talking about for months. Tax laws, investment law, infrastructor law, ISX law, banking law, etc. etc. If you all stop reading the rumor guru sites and the daily lies and BS, you would be better off...

    Here is a .PDF on a transition to a market economy...


  5. #5
    It seems Kap is a great guy, and definitely studies up on news... But on his float theory I disagree... This is one of those situations where things do not add at up many times, and we have to make sure we are looking at what they are actually doing... Not what they are saying.... This is going to be big time occurrence whenever it does take place... More so than the majority of the world understands... Both physically and spiritually... Thanks BGG for your information, and your diligence... God bless and hope your fourth is or was a good one...

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