" The Dinar Daily ", Friday, 20 March 2015
Page 1 of 4 123 ... LastLast
Results 1 to 10 of 32

Thread: " The Dinar Daily ", Friday, 20 March 2015


    
  1. #1

    " The Dinar Daily ", Friday, 20 March 2015

    Baghdad Alters Terms of Agreement with Erbil



    Iraqi MP, “Baghdad will send budget commensurate with Kurdistan oil exports”- Kurdish MP Shirin Husni has told BasNews that whilst there was initial hope surrounding the Erbil-Baghdad agreement, Baghdad now appears to be moving the goalposts. “In a meeting with Kurdish blocs, Haider al-Abadi has clearly announced that Kurdistan will receive funds that reflect the amount of oil exported through SOMO.”

    “However our agreement on oil exportation and the budget bill differed from this,” said Husni. “It is like exchanging oil for money, whereas the original agreement was for the 17% share of the budget and 1.2 billion ID (per month) for the Peshmerga forces.”

    Linked to the agreement signed by Kurdistan Prime Minister Nechirvan Barzani and Iraqi oil minister Adil Abdul-Mahdi on 13th November 2014, the budget bill passed with a majority of votes in the Iraqi Parliament on 30th January 2015.

    Husni, a member of the parliamentarian finance committee, said, “The Kurdistan PM has told us that we can reach a solution if Baghdad sends Kurdistan’s share of budget, otherwise we will sell our oil independently.”

    Kurdish member of the Iraqi Parliament and member of the financial committee, Sarhan Slivani declared that Baghdad is not treating Kurdistan legally, “Kurdistan is offering a new mechanism in which it exports 375,000 barrels of oil per day until March, when it will increase to 600,000 bpd in April.”

    “Baghdad wants its previous oil and budget agreement with Kurdistan to fail. Al-Abadi says that Baghdad will send a representative budget to Kurdistan linked to oil exports.”

    He added, “Kurdistan has exported 350,000 barrels of oil daily but Baghdad has not sent the agreed amount of budget. The violation of the agreement by the central government concerns us.”

    Kurdish federal MP Zana Rustayi told BasNews, “Baghdad is violating the agreement and it is unacceptable. The KRG has been committed but Baghdad has shown no respect to even 1% of the agreement. Yet, Kurdistan is continuing the negotiations and a KRG delegation is to visit Baghdad again.”

    A Kurdistan Democratic Party (KDP) official commented on the agreement, “The negotiations are affected by the current political, economical and security situation which obliges both sides to continue with an agreement. But disputes will rise again in the future because Erbil and Baghdad have different strategic views on the future of Iraq.”

    A number of Shiite members of the Iraqi parliament claim that the KRG has not been committed to the oil exportation agreement and Baghdad blocked the Kurdistan budget as a result.

    http://basnews.com/en/news/2015/03/19/baghdad-alters-terms-of-agreement-with-erbil/
    Last edited by pinkadonai1; 03-20-2015 at 11:28 AM.



  2. #2

    Re: " The Dinar Daily ", Friday, 20 March 2015

    ((Eighth day)) reveal the final distribution of independent bodies between the political blocs


    BAGHDAD - ((eighth day)) Revealed a senior source in the National Alliance, the final distribution of independent bodies between the political blocs.

    The source said in his speech ((eighth day)) that "the National Alliance received 10 bodies, namely, (Hajj and Umrah, the Central Bank, the National Investment Commission, Office of Financial Supervision, the Martyrs Foundation, institution of political prisoners, the House of Wisdom cultural institution, body regions not After pose, body control of radioactive materials.

    He added that the Union forces won six bodies, namely, (Justice and Accountability, Integrity Commission, Media Commission, the allocation of the revenue body body not yet been formed, body control of radioactive sources and securities).

    He continued, that the coalition was Alcardstans of a share of 5 bodies (Independent Electoral Commission, and the Commission and the Federal Communications Service, and body balance, body not yet been formed High Commissioner for Human Rights. (AA)


    http://8th-day.com/?p=100265


    COMMENT : Ali Allaq WAS RECENTLY REFERRED TO AS THE ACTING GOVERNOR OF THE CBI -“The mission met with Minister of Finance Hoshyar Zebari, Minister of Oil Adil Abdul Mehdi, Acting Governor of the Central Bank (CBI) of Iraq Ali Allaq and officers from the ministries of finance, oil, trade, electricity, and the CBI. http://www.imf.org/external/np/sec/pr/2015/pr15121.htm - IS THERE CHANGE AFOOT ? - chattels

    NOTE : THESE " BODIES " ARE REFERRED TO AS " COMMISSIONS " UNDER THE IRAIQI CONSTITUTION ; SEE Chapter Four
    [Independent Commissions]


    http://www.iraqinationality.gov.iq/attach/iraqi_constitution.pdf

    AND

    Distribution of independent bodies under the quota system to weaken the prestige of the state and its institutions



    Alsumaria News / Baghdad MP for the coalition of state law, full-Zaidi , on Thursday, the continuation of the political blocs to distribute independent bodies under the quota system as a "weakening" of the prestige of the state and its institutions, demanding the removal of bodies blocks from quotas and division.

    Zaidi said in a press statement Alsumaria News received a copy of it, that "the continuation of the political blocs to distribute independent bodies under the sectarian quota system to weaken the prestige of the state and its institutions and emptied of professional content."

    Zaidi added that "all the political blocs called for during the elections to expel independent bodies from quotas and partisan appointment at the moment are all exercised unprecedented pressure on Prime Minister Haider al-Abadi to give her a share of bodies and thus reflect the work of those bodies negatively on the government and will be the citizen is the loser and the victim of this quotas, "and urged the political blocs to" keep the independent bodies from quotas and division according to what it deems the interests of the political blocs and their parties. "

    It is noteworthy that the official spokesman for the mass change in Parliament MP Masood Haider confirmed, on Wednesday (March 18, 2015), that the Shiite component won the presidency of the 10 independent bodies, and the presidency of the Sunni six bodies, while the share of the Kurds the presidency five bodies.

    http://translate.googleusercontent.com/translate_c?depth=1&hl=en&rurl=translate.google.com&sandbox=0&sl=auto&tl=en&u=http://www.alsumaria.tv/news/128280/%25D8%25A7%25D9%2584%25D8%25B2%25D9%258A%25D8%25AF %25D9%258A-%25D8%25AA%25D9%2588%25D8%25B2%25D9%258A%25D8%25B9-%25D8%25A7%25D9%2584%25D9%2587%25D9%258A%25D8%25A6 %25D8%25A7%25D8%25AA-%25D8%25A7%25D9%2584%25D9%2585%25D8%25B3%25D8%25AA %25D9%2582%25D9%2584%25D8%25A9-%25D9%2588%25D9%2581%25D9%2582-%25D8%25A7%25D9%2584%25D9%2585%25D8%25AD%25D8%25A7 %25D8%25B5/ar&usg=ALkJrhgGE81Y5sI73nOAs6zSUmEqlo_wmg
    Last edited by pinkadonai1; 03-20-2015 at 11:33 AM.

  3. #3

    Re: " The Dinar Daily ", Friday, 20 March 2015

    Abadi: Iraq to overcome all challenges



    Baghdad (AIN) –The Prime Minister, Haider al-Abadi, assured that Iraq will overcome all the challenges.

    A statement by Abadi's office received by AIN cited "Abadi received a delegation of the Iraq Masses Bloc where they discussed the latest political and security updates and the victories achieved by the Iraqi Security Forces and the Volunteers of the Public Mobilization."

    "Abadi assured that Iraq will overcome all the challenges and will be stronger," the statement concluded.

    http://www.alliraqnews.com/en/index.php/component/content/article/40-2011-11-19-15-20-50/65870-abadi-iraq-to-overcome-all-challenges.html

    WHAT IS RHETORIC AND WHAT IS REALITY ? -chattels
    Last edited by pinkadonai1; 03-20-2015 at 11:34 AM.

  4. #4

    Re: " The Dinar Daily ", Friday, 20 March 2015

    sczin11- PLEASE SEE MY COMMENTS IN MIDDLE OF ARTICLE IN BLUE


    Quote Originally Posted by chattels View Post
    ((Eighth day)) reveal the final distribution of independent bodies between the political blocs


    BAGHDAD - ((eighth day)) Revealed a senior source in the National Alliance, the final distribution of independent bodies between the political blocs.

    The source said in his speech ((eighth day)) that "the National Alliance received 10 bodies, namely, (Hajj and Umrah, the Central Bank, the National Investment Commission, Office of Financial Supervision, the Martyrs Foundation, institution of political prisoners, the House of Wisdom cultural institution, body regions not After pose, body control of radioactive materials.

    He added that the Union forces won six bodies, namely, (Justice and Accountability, Integrity Commission, Media Commission, the allocation of the revenue body body not yet been formed, body control of radioactive sources and securities).

    He continued, that the coalition was Alcardstans of a share of 5 bodies (Independent Electoral Commission, and the Commission and the Federal Communications Service, and body balance, body not yet been formed High Commissioner for Human Rights. (AA)


    http://8th-day.com/?p=100265


    COMMENT : Ali Allaq WAS RECENTLY REFERRED TO AS THE ACTING GOVERNOR OF THE CBI -“The mission met with Minister of Finance Hoshyar Zebari, Minister of Oil Adil Abdul Mehdi, Acting Governor of the Central Bank (CBI) of Iraq Ali Allaq and officers from the ministries of finance, oil, trade, electricity, and the CBI. http://www.imf.org/external/np/sec/pr/2015/pr15121.htm - IS THERE CHANGE AFOOT ? - chattels sczin11- GREAT FIND CHATTELS....DO YOU ALL SEE THIS ? READ ABOVE AGAIN, AND AGAIN...

    NOTE : THESE " BODIES " ARE REFERRED TO AS " COMMISSIONS " UNDER THE IRAIQI CONSTITUTION ; SEE Chapter Four
    [Independent Commissions]


    http://www.iraqinationality.gov.iq/attach/iraqi_constitution.pdf

    AND

    Distribution of independent bodies under the quota system to weaken the prestige of the state and its institutions



    Alsumaria News / Baghdad MP for the coalition of state law, full-Zaidi , on Thursday, the continuation of the political blocs to distribute independent bodies under the quota system as a "weakening" of the prestige of the state and its institutions, demanding the removal of bodies blocks from quotas and division.

    Zaidi said in a press statement Alsumaria News received a copy of it, that "the continuation of the political blocs to distribute independent bodies under the sectarian quota system to weaken the prestige of the state and its institutions and emptied of professional content."

    Zaidi added that "all the political blocs called for during the elections to expel independent bodies from quotas and partisan appointment at the moment are all exercised unprecedented pressure on Prime Minister Haider al-Abadi to give her a share of bodies and thus reflect the work of those bodies negatively on the government and will be the citizen is the loser and the victim of this quotas, "and urged the political blocs to" keep the independent bodies from quotas and division according to what it deems the interests of the political blocs and their parties. "

    It is noteworthy that the official spokesman for the mass change in Parliament MP Masood Haider confirmed, on Wednesday (March 18, 2015), that the Shiite component won the presidency of the 10 independent bodies, and the presidency of the Sunni six bodies, while the share of the Kurds the presidency five bodies.

    http://translate.googleusercontent.com/translate_c?depth=1&hl=en&rurl=translate.google.com&sandbox=0&sl=auto&tl=en&u=http://www.alsumaria.tv/news/128280/%25D8%25A7%25D9%2584%25D8%25B2%25D9%258A%25D8%25AF %25D9%258A-%25D8%25AA%25D9%2588%25D8%25B2%25D9%258A%25D8%25B9-%25D8%25A7%25D9%2584%25D9%2587%25D9%258A%25D8%25A6 %25D8%25A7%25D8%25AA-%25D8%25A7%25D9%2584%25D9%2585%25D8%25B3%25D8%25AA %25D9%2582%25D9%2584%25D8%25A9-%25D9%2588%25D9%2581%25D9%2582-%25D8%25A7%25D9%2584%25D9%2585%25D8%25AD%25D8%25A7 %25D8%25B5/ar&usg=ALkJrhgGE81Y5sI73nOAs6zSUmEqlo_wmg
    Last edited by sczin11; 03-20-2015 at 12:48 PM.

  5. #5

    Re: " The Dinar Daily ", Friday, 20 March 2015


    sczin11- Re-Post from Yesterday....


    OPINION PIECE!

    sczin11- WHAT IS/HAS GONE ON IN IRAQ ...

    2015- THE BUDGET WAS PASSED IN RECORD TIME, INCLUDING MANY NEW PRO-ECONOMIC AND MONETARY REFORM ADVANCEMENTS..

    2014- THE ELECTIONS...WOULD MALIKI FINALLY BE DETHRONED?

    2013- THE RELEASE FROM CHAPTER 7

    2012- DR. SHABIBI BEING DISMISSED FROM THE GOVERNORSHIP OF THE CBI, WHILE ATTEMPTING TO RAISE THE VALUE OF THE IRAQI DINAR


    WHAT IS NEXT??

    Every day that arrives, hopes and dreams are swallowed by more/new postulations of why THE IRAQI MONETARY REFORM HAS NOT BEEN COMPLETED...

    HISTORY, AS OUTLINED ABOVE, SEEMINGLY PROVES, NO ONE EVENT TARGETED BY US, WAS TAILORED TO COMPLETE THE REFORM...ALL SEEK OUT THE "TRIGGER", BUT, AT THIS TIME, REALITY AND COMMON SENSE, SHOULD PREVAIL, AND KEEP US ON AN EVEN KEAL...
    BUT, IT DOESN'T...WE HAVE SPENT SO MUCH TIME AND ENERGY, WE HAVE COME TO RELY ON THE UNKNOWN, WE HAVE PLACED OUR LIVES AND FAMILY ON HOLD...
    SOME OF US HAVE WAITED AS LONG AS THE GREAT CITIZENS OF IRAQ, SO THEY CAN TRULY UNDERSTAND THE FRUSTRATIONS AND SUFFERING..
    LAST YEAR WAS POLITICS, THIS YEAR IS WAR, NEXT YEAR WILL BE SOMETHING ELSE-THESE ARE NOT EXCUSES...THESE ARE NOT DELAYS...THESE ARE NOT A PRE-MEDITATED COUP AGAINST THEIR PEOPLE, OR US FOR THAT MATTER...THESE ARE ALL NATURAL HAPPENINGS, THEY EVOLVE IN LIFE!

    THE CABINET MEETS WHEN CALLED ON BY THE COMMANDER IN CHIEF...DOES THAT MEAN THE LEADER OF THE FREE WORLD, DOES NOT GET BRIEFED MUCH MORE REGULARLY, FROM ALL ARMS OF LEADERSHIP, IN HIS GOVERNMENT?
    THE ANSWER IS A BIG FAT NO!
    IRAQ CLEARLY HAS MADE SIGNIFICANT CHANGES, ADVANCEMENTS, AND STRIDES TOWARDS WEALTH AND PROSPERITY...THEY HAVE STATED AND SHOWN, THE PROGRESS TOWARDS A TOTAL, SOVEREIGN AND DEMOCRATIC NATION..THEY HAVE RACED AROUND THEIR REGION, AND FURTHER, TO MAKE AMENDS WITH THEIR NEIGHBORS...THEY HAVE SHOWN SIGNIFICANT PROGRESS AND GRANTED GOOD WILL WHERE APPROPRIATE...
    THE WORLD RECOGNIZES THIR SINCERITY, HENCE THE COALITION TO FIGHT TERRORISM...HENCE THE LOANS FROM ALL INTERNATIONAL AGENCIES..HENCE THE CREDIT BEING AFFORDED THEM BY GLOBAL COUNTRIES...HENCE THE CONTINUED ATTEMPTS FROM WITHIN, FOR PEACE BETWEEN THE KURDS AND BAGHDAD...

    FOLKS, WITH ALL THAT IS HAPPENING, WITH ALL THAT HAS HAPPENED, AND FROM WHAT WE SEE, IS ON THE AGENDA TO HAPPEN, IT IS NOT REASONABLE TO THINK THEY WOULD DO ALL THIS, AND END THE PLAN WITH A CURRENCY THAT IS WORTHLESS...

  6. #6

    Re: " The Dinar Daily ", Friday, 20 March 2015





    The Exchange Rate of Foreign Currency in Economic Feasibility Studies

    Below are the central controls related to the exchange rate of the foreign currency to convert the project inputs and outputs from foreign currency to its equivalent in the local currency, and that is by calculating the net discounted present value standard and the internal return on investments in economic analysis that governs investment projects that costs excess one million dinars.

    Estimate the shadow price of foreign currency:

    1. It is necessary to put central controls to amend the official exchange rate * to reflect the shadow price of the foreign currency, and that is considered one of the necessary requirements to implement the net discounted present value standard and the internal return rate on investment in the economic calculation stated in the instructions, paragraph nine.

    The central controls for adjusting market prices distinguished a group of outputs and inputs traded internationally, where the projects production or usage of them is reflected on the abundance of foreign currency in the economy and thus project outputs or inputs used of such are considered purely foreign currency outputs or inputs.

    * What is meant by exchange rate: the number of units of foreign currency, expressed in dollar per one dinar.In particular the following outputs and inputs of foreign currency were distinguished:


    • Export-outputs.
    • Outputs marketed locally that substitute imports.
    • Imported inputs.
    • Inputs produced locally that usually go to exports.
    • Foreign labor.


    According to the pricing rules the value of the output and input (traded) is calculated using export prices (FOB) and import prices (CIF), according to what is listed in the pricing rules.

    In other words the pricing rules calculate what the project produces from foreign currency (quantity of exports multiplied by the export price (FOB) in foreign currency or the quantity of substitute imports multiplied by the import price (CIF) in foreign currency, as well as what the project uses from foreign currency and imported inputs multiplied by the import price (CIF) in foreign currency …. etc.).

    In a later step, project outputs and inputs must be converted from the foreign currency to its equivalent in local currency (dinars) by using a specific exchange rate for the foreign currency.

    2. Justifications for exchange-rate adjustment: there are a number of important and powerful arguments which support the view that the official exchange rate reduces the real value of foreign currency for purposes of calculating the economic national profitability for investment projects and hence for the purposes of investment planning. It is demonstrated in this context to call for assessing the dinar for less than (3.208) dollar (official exchange rate) when assessing project outputs and inputs of traded goods of exports, substitute imports and imports… etc.

    The justifications to call for the use of an exchange rate that is lower than the official exchange rate are:


    • The use of an exchange rate that is lower than the official rate is the appropriate action at the investment planning level to translate the country’s economic strategy aiming at stimulating central investments in the sectors that encourage the development of non-oil exports, as well as sectors that encourage the expansion of domestic production base in order to reduce imports and compensate it with local commodities. This helps to reduce reliance on foreign exchange earnings from crude oil exports and increases the share of non-oil sectors in the local production.
    • The application of the amended exchange rate on project imported inputs will assist in directing investments away from aggregated sectors dependent on imported inputs and the preference of those sectors that rely on locally produced inputs.
    • The use of the amended exchange rate helps to correct the balance in favor of the traded goods sectors compared to non-traded goods.
    • The real exchange rate has declined rapidly since the early seventies, through rapid rise of the level of prices and local costs which led by the steadiness of the official exchange rate to change in prices and actual local rate costs that gave an advantage for imported goods at the expense of locally produced goods, meaning that it led to deterioration of the competitiveness of alternative replacement goods and export commodities.
    • This action shows that the official exchange rate overestimates the value of the dinar, compared to the foreign currency and from the promoting goods substituting imports and export commodities point of view of.


    And in support to this view is the state’s utilization and in a broad approach to the customs and quantitative protection policies especially for consumer goods, as well as export subsidies that exports have through an amended export exchange rate.

    3. Estimate the amended exchange rate of the Iraqi dinar to be used in technical and economical feasibility studies and for (1.134) dollar per dinar. This price should be approved for 3 years until re-appreciation by the competent authorities.



    The Republic of Iraq – Ministry of Planning

    and

    A "flashback recap" of a Live Q and A Call from about a year ago - on THE DAILY DINAR NEWS BLOG...

    In general terms – there were three main focal points of interest I wanted to cover and then allow listeners to ask whatever questions they liked.

    1) the SIGR report…


    2) the Gold Article…


    3) the IIER report…


    I started the conversation out last night by highlighting how crazy this campaign being fielded to contact our lawmakers and bank CEO’s and tell them how unfair it is they are getting to exchange (exchange is the right terminology BTW – NOT “CASH-IN”) at 32.00 per Dinar and we are not – is. It is nuts.


    Firstly, “they” are NOT being allowed to exchange “early” – or at 32.00 per Dinar. It makes you sound “stark raving MAD” to be caught saying such things. You would be better off barking at the moon. It is demeaning to the validity of a true currency play.


    Secondly, this is entirely the wrong way to approach them. I pointed out on the call that Poppy and I fielded a very successful such campaign a couple of years ago. However, we sat down and came up with a much different approach. It was designed to get answers and to approach our lawmakers with respect and as their constituents. Not like a bunch of lunatics. We had extraordinary participation (because it made sense) and we received a good response from lawmakers. It started the conversation in a reasonable manner.


    I asked one caller – “when was the last time you asked a banker for money and told him how unfair it was if he didn’t give it to you”??? Obviously – we chuckled…


    Another caller asked me if (as DC had relayed) – the “zero’s were raised” and the lower denominations were in circulation??


    I said plainly “no”…lower denominations being in circulation would (at the very least) imply there had been a value change. If there were no value change the lower denoms would not only be of little value, they would be such a hinderance – people might even throw them away just to get rid of them. So no – no lower denoms. I told the caller to check the
    CBI.iq website for “real” info on rate change.

    The “zero’s being raised” or “deleted” – as explained by any reasonable researcher, economist or authority – is simply the process removing the large (3 zero notes) from circulation.


    Referring to an Enorrste post from today on
    THE DINAR OBSERVER DAILY(you may want to put this on your favorites and check in several times a day – we to it often )

    “…I have never found a single article from the CBI or the IMF that equates “delete the zeros” to the idea of “move the decimal point.” Instead, the statements overwhelmingly come out to mean “remove the large notes from circulation.”


    Also – this recent internal memo put out by Wells Fargo is likely “push back” from this recent campaign. I pointed out that Pinnacle Bank published an article by an “affiliate” in their internal publication and then “highlighted it” in a similar internal memo a couple of years ago. It is just a defense mechanism. I’m sure Wells is tired of having their name dragged through the “internet rumor mill”. This is highly likely the reason for their vigorous denials about handling it in the future. They get so many useless calls – it isn’t worth the headache. Can you blame them??


    Further, for any bank, lawmaker, adviser or official to state the “Dinar is a scam” is nearly as foolish as some of the internet “Gurus”. It is the official currency of a COUNTRY. I pointed out (below) the post from yesterday’s
    DINAR OBSERVER DAILY
    – highlights page 94 of the quarterly SIGR report to THE US CONGRESS in April of 2012…
    __________________________________________________ _____________

    THIS REPORT WAS SENT TO CONGRESS LAST MAY. IT PLAINLY SHOWS IN THIS REPORT THEY EXPECTED THE DINAR TO REVALUE AT AROUND A DOLLAR IN 2013.

    We are seeing and hearing that the inflation rate is still climbing and they are pushing to get us our money?? This report is from page 84 of the massive SIGR report.





    BGG ~
    This is a screen shot from the “Special Inspector General for Iraq Reconstruction” – Apr 2012, quarterly report to Congress. For members of our Government to say they have no idea what is going on here – means they haven’t read some very basic documents presented them.
    __________________________________________________ ______________

    I pointed out (last night) this is a highly speculative investment. We are, in no way, guaranteed anything. However, this SIGR report gives us some valuable insights…

    1) This is information given to the US CONGRESS on a quarterly basis… I find it hard to believe such an information source would intentionally mislead Congress. They tend to frown on such behavior. Which goes directly to the validity of this adventure – against all advice from Wells Fargo or other such naysayers.

    2) It points out there having been a legitimate “plan” – or time frame in motion…having been projected to be done in 2013. We are obviously in “over time” now.

    3) It gives us an idea as to who is in charge…the CoM – or Council of Ministers. Who do they answer to?? Maliki. Period. When is he likely to push this forward?? Historically – he has been a “weak Dinar” policy advocate. However, rumor from his own inner circle admits he can’t win a third term in office without some currency reform.

    I fully expect him to use every tool in his “wheel house” to win – his recent moves in Anbar and the disputed territories prove as much. Currency reform has to be a “biggie”. Though this WAS their thinking a couple of months ago – there is no promise it is still part of their political calculus. We shall see.

    4) Though no guarantee of the actual future plan they wind up engaging – this report points out an increase in value that would have taken the Dinar from “one-tenth of a cent” to a value “of slightly less than $1″..

    __________________________________________________ ______________

    AND

    Coins put on the market !!



    Nora Albjara member of the committee of economy and investment in the House of Representatives revealed that the central bank completed its preparations for the issuance of metal coins of seven small groups, in conjunction with the implementation of the project to delete the three zeroes from the paper currency is currently in circulation.

    She said in her statement Albjara "The project will take between four and five years, and which will be the launch of the categories of small coins gradually."

    He predicted the financial expert Hilal Taan inflation rate declines, with the issuance of metal coins of small denominations in the daily financial transactions, remarkable that 3% of the value of inflation in Iraq due to the presence of large cash block.

    The economic expert on behalf of Jamil Anton, noted that he may not find metal coins accepted by a lot of Iraqis, especially young people, due to the existence of an entire generation of Iraqis had not trading coins due to stop use since the early nineties of the twentieth century

    waradana.com

    And

    CBI is preparing to issue a monetary metal parts

    Metal coins from the category of 25 fils were in circulation until the nineties of the last century

    Nora Albjara member of the committee of economy and investment in the House of Representatives revealed that the central bank completed its preparations for the issuance of metal coins of seven small groups, in conjunction with the implementation of the project to delete the three zeroes from the paper currency is currently in circulation.

    She said in her statement Albjara Radio Free Iraq, "said the project will take between four and five years, and which will be the launch of the categories of small coins gradually."

    He predicted the financial expert Hilal Taan inflation rate declines, with the issuance of metal coins of small denominations in the daily financial transactions, remarkable that 3% of the value of inflation in Iraq due to the presence of large cash block.

    The economic expert on behalf of Jamil Anton, noted that he may not find coins accepted by a lot of Iraqis, especially young people, due to the existence of an entire generation of Iraqis had not trading coins due to stop use since the early nineties of the twentieth century.

    http://www.iraqhurr.org/content/article/26666313.html

    and

    Another "FLASHBACK"...

    Economists Divided Over Deletion Of Zeros

    By Amina al-Dahabi for Al-Monitor.

    The Central Bank of Iraq (CBI) has been attempting to delete three zeros from the Iraqi currency since 2003. This project has raised many concerns among the Iraqi public and within the business community, and Iraqi economists are divided…

    …Haider al-Abadi, the head of the Iraqi parliamentary Finance Committee, told Al-Monitor that while deleting zeros from the current currency is possible, this has been postponed until after parliamentary elections. He noted that studies are being carried out to ensure that, following the currency change, counterfeiting is limited and that Iraqis don’t go back to trading in the old currency.

    The step to delete zeros from the currency has been postponed several times, leading the parliamentary Economic Committee to demand that the CBI accelerate this project, as Al-Sharqiya reported. In a news conference held July 6, the Economic Committee confirmed that the deletion of zeros will lead to an increase in the value of the Iraqi dinar and will have positive repercussions, including a reduction in unemployment and poverty rates in the country.

    ARTICLE LINK

    Crush Expected When Kuwaiti Banks Reopen Today

    March 24, 1991|From Reuters



    KUWAIT CITY, Kuwait — Thousands of Kuwaitis are expected to jam the country's banks today when they open for the first time since the end of the Iraqi occupation.

    Customers will be allowed to withdraw funds and to swap pre-invasion money for a new currency issued to make more than $1 billion in pre-invasion dinars stolen by the Iraqis worthless.

    "We expect a rush of people," said Issam Asousi, an executive with the Bank of Kuwait. He said it could be a chaotic first week because customers have a lot of questions about their accounts.

    Kuwaiti banks continued operating during the seven-month Iraqi occupation under managers brought in from Iraq, but they have been closed since the U.S.-led alliance ousted the Iraqi army from Kuwait a month ago.

    When the banks reopen today, customers will be able to withdraw up to 4,000 Kuwaiti dinars, equivalent to about $14,000 at pre-invasion exchange rates from their accounts, and to exchange a like amount for foreign currency.

    Balances of customers' accounts will go back to what they were on Aug. 1, a day before the invasion.

    Clients will not be able to exchange Iraqi currency issued during the occupation, when Baghdad pegged the rates of the strong Kuwaiti dinar to the far less valuable Iraqi dinar.

    The new Kuwaiti money will be exchanged for old at a one-to-one rate.

    http://articles.latimes.com/1991-03-..._kuwaiti-banks


    BGG ~ Thanks to wmawhite for some facts on the subject.

    Hi BGG,

    Just thought I would drop you an email. I listened to the call, and was interested in what was said about Kuwait, if I may - I will add my 2 cents worth.

    You were spot on with what you said, I have a close friend who's father made a killing on the KWD. He bought from people who had fled the country and he paid pennies on the dollar (we are in Australia). He took the chance that Iraq would be kicked back out and he was right.

    When the money was reinstated, he exchanged it for AUD at a rate in the mid 3s. The interesting thing about it is, Iraq invaded in November 1990 (I think), they were kicked back out at the end of Feb 1991, the banks reopened with a brand new KWD in late March, that's not a bad time frame to get a currency designed, printed and made ready to use, also the time that the old KWD was valid was initially only for 2 months, then extended to 6, so it was valid until Sept 1991, interesting I think.

    Also the other thing that seems to be a "fact" in Dinar land is Bill Clinton used the Kuwait RV to pay off the debt. However, Clinton was not President in 91, he did not take office until 93, even I know that and I am an Aussie.

    Anyway thanks for the site and enjoy listening to your calls.

    Kind Regards,
    Kevin

  7. #7

    Re: " The Dinar Daily ", Friday, 20 March 2015

    Zebari: Baghdad province handed over $ 420 million from the budget due


    Khandan - Kurdistan
    region received $ 420 million from the budget of Baghdad dues, according to the announcement, Finance Minister in the federal government, Hoshyar Zebari. He said Zebari's remarks, told Reuters on Thursday that such payments mean that the parties are committed to the agreement of oil. Zebari said: "There is now different expectations of both sides, "he said, adding that oil exports from the region now growing steadily and reached more than 300 thousand barrels per day. The Zebari said that the two sides will achieve Ohdavhmha special payments budget and exports of oil, and predicted that Baghdad provide another batch of dues budget of the province the end of the month March. He went Finance Minister said, "Both sides Eoffaan their promises."

    http://www.xendan.org/arabic/drejaA.aspx?=hewal&jmara=11213&Jor=1

  8. #8

    Re: " The Dinar Daily ", Friday, 20 March 2015

    Allawi: Take appropriate Nowruz as a reminder of the supervisor of the Kurds role throughout the history of our country



    Khandan - congratulated the Vice President Iyad Allawi, the Kurdish people on the occasion of Nowruz holidays solutions, expressing hope that this event promotes cohesion and unity among the shades of people. Allawi said in a statement, "By the Nowruz holidays blessed and celebrations of our people Kurdish decent, I would like all Iraqis The Kurdish people inherent congratulations heartfelt and prayed God to grant to our unity, peace and greatness, and that can help us with the enemies of our people from the factions of terrorism and crime. " Allawi said, "I take this occasion to remind the role of the Kurds humanitarian great national and supervisor throughout the history of our country great." "re God this occasion, and our people more prevention and cohesive unit. "

    http://www.xendan.org/arabic/drejaA.aspx?=hewal&jmara=11221&Jor=1

  9. #9

    Re: " The Dinar Daily ", Friday, 20 March 2015

    The government plans to secure soft loans to citizens



    BAGHDAD / Obelisk
    : The Iraqi government has indicated that it intends to secure soft loans to citizens and the salaries of pension every Iraqi social product as collateral.

    Economic Adviser to the Prime Minister said the appearance of Mohammed Saleh, on Friday, the government plans to secure the release of soft loans to citizens and the allocation of pension salaries Everyone social product as collateral for him.

    Saleh pointed out in a press statement followed the "Obelisk", that "the government curriculum included the subject of the general framework of reform in Iraq and the points are essential in the first economic side is the market-oriented economy, the product of any social market, which is that the state does not assume transformational production as simple as making dresses, shoes and other This does not exist in all countries of the world but the state holds the strategic production and sovereign country that matters such as oil, for example. "

    He added, "The other key point and the task you are working on the state that there is a guarantee for every Iraqi man and is not only for employees but for every Iraqi citizen, is 63 years old and be a producer of the pension."

    He pointed out that "these are the pillars which will be built on economic reform for the next four years, which can be a productive state through the market through the organization and support to be market competitive and socially, as well as this market there is a pension fund product for every citizen."

    He explained that "the government she is still young and the things you need to effort and pay, but the general trend it is to run the Iraqi people rather than through government employment, there are four million employees and this is a problem because the operation of all the Iraqi people in public office means disabling the nation and disrupt a deliberate people's energies energies start production and reconstruction and construction. "

    He pointed out that "the other direction to the government sector in the economy is to provide a social security fund from which provides lending resources accessible to the community and a small soft loans and this program we are working hard to find a lending program for all Iraqis."

    Iraq is witnessing economic distress, in light of the decline in oil prices, which reflected negatively on the federal budget for 2015 and led to the deficit by 25%, while economists called for to stimulate the private sector and activating investment and the adoption of local products to increase imports and reduce spending.

    http://almasalah.com/ar/news/49756/%D8%A7%D9%84%D8%AD%D9%83%D9%88%D9%85%D8%A9-%D8%AA%D8%B9%D8%AA%D8%B2%D9%85-%D8%AA%D8%A3%D9%85%D9%8A%D9%86-%D8%A7%D9%84%D9%82%D8%B1%D9%88%D8%B6-%D8%A7%D9%84%D9%85%D9%8A%D8%B3%D8%B1%D8%A9-

  10. #10

    Re: " The Dinar Daily ", Friday, 20 March 2015

    Warnings from the continuation of the Iraqi currency smuggling

    BAGHDAD / Obelisk: deputy in the Iraqi parliament, warned of the continuation of the local currency smuggling in order to sabotage the Iraqi economy.

    MP warned of the Federation of Iraqi strongman Omar Humairi, on Friday, the continuation of the local currency smuggling, indicating that this is a sovereign matter to the collapse of the Iraqi economy.

    He Humairi in a statement, "obelisk" I got a copy of it, that "overlooked and silence by the regulatory bodies responsible for the local currency protection from being smuggled out of the country n by a handful evil aim of pushing Iraq's economy into the abyss is a real disaster and to those concerned to take this issue into account."

    He added that "the central bank to prepare strict controls to protect the local currency and the Iraqi economy from collapse and activation mechanisms that undermine money laundering and damage to the Iraqi economy operations."

    He continued that "condone any act that affects the Iraqi economy have devastating results and in the interest of extended spoilers," noting that "the continuation of the local currency to flow out of the country has serious damage", calling for "the need to address the protection of the local currency and the risk of spoilers"

    http://almasalah.com/ar/news/49755/%D8%AA%D8%AD%D8%B0%D9%8A%D8%B1%D8%A7%D8%AA-%D9%85%D9%86-%D8%A7%D8%B3%D8%AA%D9%85%D8%B1%D8%A7%D8%B1-%D8%AA%D9%87%D8%B1%D9%8A%D8%A8-%D8%A7%D9%84%D8%B9%D9%85%D9%84%D8%A9-%D8%A7%D9%84%D8%B9

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •