The Dinar Daily, Thursday April 23, 2015
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Thread: The Dinar Daily, Thursday April 23, 2015

  1. #1

    The Dinar Daily, Thursday April 23, 2015


    US dollar USD 1166.000 1164.000

    US dollar USD 1166.000 1164.000
    Euro EUR 1252.634 1252.007
    British pound GBP 1753.314 1752.438
    Canadian dollar CAD 951.837 951.361
    Swiss franc CHF 1222.863 1222.252
    Swedish krona SEK 134.982 134.914
    Norwegian krone NOK 148.363 148.289
    Danish krone DKK 167.871 167.787
    Japanese yen JPY 9.741 9.736
    Drawing Rights
    SDR 1613.464 1612.657

    Indicative rates - 23.04.2015

    Currency Auctions

    Announcement No. (2936 - most recent listing)

    The opening offers the sale and purchase of foreign currency in the window of the Central Bank of Iraq on 22/04/2015 and the results were as follows:

    Number of banks 18
    Number of remittance companies 4
    Auction price selling dinar / US$ 1166
    Auction price buying dinar / US$ -----
    Amount sold at auction price (US$) 167,345,000
    Amount purchased at Auction price (US$) -----
    Total offers for buying (US$) 167,345,000
    Total offers for selling (US$) -----
    Last edited by pinkadonai1; 04-24-2015 at 09:43 AM.

  2. #2

    Re: The Dinar Daily, Thursday April 23, 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


    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 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
    – highlights page 94 of the quarterly SIGR report to THE US CONGRESS in April of 2012…
    __________________________________________________ _____________


    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″..

    __________________________________________________ ______________


    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


    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.


    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.


    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.

    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,
    Last edited by pinkadonai1; 04-23-2015 at 10:44 AM.

  3. #3

    Re: The Dinar Daily, Thursday April 23, 2015

    What Western leaders are neglecting in the fight against Daesh

    While ISIL (Daesh) may be making gains in Syria, the tides of battle are shifting against them in Iraq. Since January, ISIL has lost 25% of the territory it once held in Iraq to an Iranian led offensive of Shiite militias and Iraqi army regulars, including the strategically important city of Tikrit. German intelligence reports further indicate that ISIL has lost control of “at least three large oil fields” in Iraq, denying them a key source of revenue.

    In the wake of ISIL losses, some are beginning to worry less about ISIL and more about increasing Iranian influence and the role of Shiite militias in post-ISIL Iraq. For instance, General Petraeus, who commanded U.S. forces in Iraq during the 2007-2008 surge recentlywarned that “the foremost threat to Iraq’s long-term not the Islamic State; rather, it is Shiite militias, many backed by – and some guided by – Iran.”

    Concerns about Shiite militias are justified. Whether or not accusations of looting, desctruction of civilian property, andsummary executions are as widespread as critics claim, perceptions of sectarianism will likely prevent them from playing a constructive role in making Sunnis feel welcome in a post-ISIL Iraqi polity.

    "...some are beginning to worry less about ISIL and more about increasing Iranian influence"

    However, Iraqi and Western policy makers have both neglected to plan for a critical challenge in their endgame with ISIL: establishing a secure border between Syria and Iraq. If the Iraqi government cannot figure out how to surmount the considerable borders to doing so, ISIL fighters will be able to flee into Syria in the face of coalition pressure, regroup with ISIL and affiliated forces in Syria, and then return to Iraq.

    Needless to say, it will be difficult for Iraqi forces to give ISIL a “knockout blow” if they can slip into Syria, reconstitute, and attempt to infiltrate a Sunni heartland that will still feel suspicious of Baghdad after ISIL is defeated.

    Before Sykes-Picot, independent Islamic polities governed the Sunni border region between Syria and Iraq in the shadow of the Ottoman Empire. Afterwards, shared cultural ties made establishing a legitimate and secure border between the two states difficult.

    The porous border became a salient issue in the midst of tensions surrounding repeated (failed) attempts to unify Syria and Iraq during the seventies and eighties. After the 1973 war, Hafez al-Assad offered a unity government with Iraq, but Iraq rejected the offer, and criticized Assad for “his willingness to make peace with Israel”.

    In 1978, Iraqi President Ahmed Hassan al-Bakr and Hafez al-Assad agreed to a plan that would lead to the future unification of Iraq and Syria, but Saddam Hussein (then Vice-President of the Baath Party) forced al-Bakr to step down out of fear of irrelevance in the new regime. Talks continued under the presidency of Hussein, but they were suspended after the Iraqis discovered a Syrian plot to overthrow him.

    Iraq’s sovereignty related suspicions against Syria were compounded by allegations that Syria was destabilizing Iraq by allowing smugglers to move weapons and fighters across the border. Even after resuming diplomatic relations in 2006, “Syria’s alleged blind eye to the funneling of insurgents and arms across its border into Iraq (remained) a key issue dividing the two countries”, said a 2007 U.S. Institute of Peace report.

    By Jordan Olmstead

  4. #4

    Re: The Dinar Daily, Thursday April 23, 2015

    Special Operations: Iran Takes Aim At Jordan

    April 23, 2015: A senior Iranian general recently gave a speech in Iran in which he described Iranian military operations in Iraq and Lebanon as going well and that soon Iran would have a presence in Jordan as well. Apparently the general revealed more than he was supposed to because Iranian diplomats began getting angry messages from Jordan about this. In response Iran said the speech never took place. It was too late for that as many details had gotten out (some via pro-government media in Iran) and all Iranian diplomats could do was attempt some damage control. What this was all about was optimism among Quds Force leaders and their eagerness to share it. To Jordan this Iranian slip makes sense because pro-Iran Syrian rebels recently took control of some of the border with Jordan and Quds personnel were seen to be active along this border area.

    Iran has its own Special Forces, the secretive Quds Force, which belongs to the IRGC (the Iranian Republican Guard Corps.) Also known as the Pasdaran, the IRGC is a paramilitary force of about 100,000 full timers that insures that any anti-government activity is quickly eliminated. To assist the Pasdaran, there is a part-time, volunteer force, several hundred thousand Basej, which can provide additional manpower when street muscle is required. The Basej are usually young, Islamic conservative men, who are not afraid to get their hands dirty. If opponents to the government stage a large demonstration, it will often be broken up by Basej, in civilian clubs, using fists and clubs. But outside Iran, the IRGC depends on the Quds Force to look after Iranian interests.

    The Quds Force is a full time operation, of men trained to spread the Islamic revolution outside Iran. The Quds force has a major problem in that they are spreading a Shia Islamic revolution, while only 15 percent of Moslems are Shia. Most of the rest are Sunni, and many of those consider Shia heretics. In several countries, there is constant violence between Shia and Sunni radicals. This has been going on long before the clerics took control of Iran in 1979, which was more than a decade before the Sunni (al Qaeda showed up in the 1990s.

    The core operatives of the Quds force comprises only a few thousand people. But many of them are highly educated, most speak foreign languages, and all are Islamic radicals. They are on a mission from God to convert the world to Shia Islam, and the rule of Shia clergy. The Quds Force has been around since the 1980s, and their biggest success has been in Lebanon, where they helped local Shia (who comprise about a third of the population) form the Hezbollah organization.

    The Quds Force has eight departments, each assigned to a different part of the world. While the one that works in the Palestine/Lebanon/Jordan area have been the most successful, the other departments have been hard at it for three decades. The Palestine/Lebanon/Jordan department went into high gear in 2012 when a rebellion against the pro-Iran Syrian government made unexpected gains. For the next two years saving pro-Iranian Syria was the main task of Quds.

    The Western Directorate has established a recruiting and fund raising network in Western nations. Many recruits are brought back to Iran for training, while Shia migrants are encouraged to donate money, and services, to Quds Force operations. Because many of these operations are considered terrorist operations, Quds Force is banned in many Western nations. Currently Quds operatives in the West are monitoring what ISIL is up to there and recruiting local Shia Moslems to fight ISIL in Iraq and Syria.

    The Iraq Department long maintained an army of anti-Saddam fighters in exile (in Iran) as well as running an intelligence operation inside Iraq. After the coalition toppled Saddam in 2003, Quds Force moved people, money and weapons into Iraq, to form pro-Iranian political forces and militias. These forces were withdrawn by 2008 as the newly elected government demonstrated their power by forcibly shutting down any pro-Iran Shia militias that refused to disband peacefully. By 2014 Quds was invited back in as ISIL took Mosul and parts of northwestern and western Iraq. Now Quds considers their work in Iraq more important than the effort in Syria.

    The South Asia Department (Afghanistan, Pakistan, and India) was active in aiding Afghan Shia who were being persecuted by the Taliban (a Sunni operation) and al Qaeda (a very Sunni operation). Quds has also been caught operating in Pakistan, where Sunni terrorists have been attacking Shia for decades.

    The Turkey Department has been active encouraging Shia Kurds to commit terrorist acts.

    The North Africa Department has an operation in Sudan that functions in the open, despite the Sunni conservatives who run the country. This department has been caught providing weapons to the Sunni Islamic terrorists in Somalia.

    The Arabian Department supports terrorist groups that exist in all the Persian Gulf Arab countries. The Arab Sunni governments in these nations does not appreciate Iran's support for this sort of thing. Quds has quietly supported a Shia rebellion in Yemen, which has been simmering for a decade and got really successful in 2013 and by late 2014 controlled the capital and over a third of the country. But now the Arab neighbors (plus Egypt) are getting involved and an American carrier task force just showed up to prevent Iran from sending in any arms and other supplies by ship.

    The Central Asian Department supports Shia and Sunni terrorists in countries that used to be part of the Soviet Union. So does al Qaeda, but the Quds operation has been more discreet.

    Back in Iran, Quds kept an eye on al Qaeda leaders granted sanctuary after 2001. Even though al Qaeda has taken part in many atrocities against Shia outside Iran the Quds leadership saw this a case of the "enemy of my enemy is my friend." Actually, there is a major dispute in the Iranian government over the al Qaeda issue. But the Iranian leadership is more a federation than a dictatorship, so Quds can keep being nice to al Qaeda as long as not too many factions get mad at Quds.

    The Iranian leadership, despite their radical sounding pronouncements, have actually been quite cautious. This is in line with ancient Iranian custom. Most of the Hezbollah violence in Lebanon was at the behest of Lebanese. The same pattern has occurred elsewhere. The Quds guys usually counsel restraint, although in Iraq there has been more enthusiasm for violence. Iraq is a special case, as several hundred thousand Iranians died fighting Saddam in the 1980s, and Iranians have not forgotten.

    Quds is often described as the most radical part of the IRGC while also being the smallest component. Although by their very nature Quds operations must remain discreet and secret, Quds and IRGC find it good for the image of the religious dictatorship running Iran if some Quds accomplishments are boasted about openly. Thus Quds leaders like to say that because of Quds efforts Iran now controls “four Arab capitals” (in Lebanon, Iraq, Syria and Yemen). Given that all four of those countries are currently embroiled in wars and revolutions (often anti-Shia) the boasting may be a little premature.
    Last edited by pinkadonai1; 04-23-2015 at 03:56 PM.

  5. #5

    Re: The Dinar Daily, Thursday April 23, 2015

    Abadi denies the issuance of any proposal to house the displaced in Abu Ghraib prison

    ( Baghdad- the office of Prime Minister Haider al-Abadi denied on Thursday the issuance of any suggestion of sheltering the displaced of Anbar at Abu Ghraib prison in Baghdad, calling on citizens and the media to careful in dealing with the promoters of these rumors.

    Abadi’s office said in a statement received by, “Abadi denies the issuance of any suggestion of sheltering displaced from Anbar in the Abu Ghraib prison,” calling on citizens and the media to “caution in dealing with the promoters of these rumors.”

    It is noteworthy that the local media deliberated news about a government proposal of sheltering displaced families from the city of Ramadi in Baghdad Central Prison (Abu Ghraib).
    Last edited by pinkadonai1; 04-23-2015 at 03:58 PM.

  6. #6

    Re: The Dinar Daily, Thursday April 23, 2015

    Ministry of Defense announces the liberation of the old road to al-Karma sub-district

    Shafaq News / The Iraqi Ministry of Defense announced on Thursday, the liberation of the old road to al-Karma town, west of Baghdad from the control of ISIS terrorist organization.

    According to a statement issued by the ministry received by “Shafaq News", the seventeen Infantry Division of Brigade 25 Regiment , commando division and artillery battalion were able to liberate the old road in al-Karma sub-district (the northern border of the sub-district) as well as liberating the village of Bo Soda , Albu Khanfar , Albu Salman , Ali Salman River and al-Halabsa River in a quality process.”

    The statement added that a large number of terrorists were killed as well as seizing more than a factory for the manufacture of improvised explosive devices and bombs as the process continues until the liberation of the entire Karma sub-district.
    Last edited by pinkadonai1; 04-23-2015 at 03:58 PM.

  7. #7

    Re: The Dinar Daily, Thursday April 23, 2015

    Between Erbil and Washington, who to believe on arms deliveries?

    – The United States maintains that Kurdistan’s Peshmerga forces are “well supplied” and ”there has been absolutely no delay” in weapons delivered through Baghdad. But Erbil retorts: “we are not getting the weapons and ammunitions we need” for the war with Islamic State (ISIS/ISIL).

    Qubad Talabani, the Kurdistan Regional Government’s (KRG) deputy prime minister vented some of Erbil’s frustration over weapons deliveries on CNN on Tuesday.

    “This is still a point of frustration for us in Kurdistan: we are fighting this fight, we are leading this fight against ISIL, we have been the most effective force in this fight against ISIL. But we are not getting the weapons and ammunitions we need to continue this fight for a sustained period of time,” he said.

    “I get a feeling that we are being drip-fed weapons to be able to fight battle per battle.”

    The United States refuses direct weapons deliveries to the KRG, insisting it is legally bound to go through the central government in Baghdad. Some US lawmakers have been lobbying for direct supplies to the Peshmerga, the troops that have been the most effective bulwark against ISIS in Iraq.

    Talabani complained that every delivery “still has to go through some process of clearance from Baghdad. There is still a level of complication. Honestly, we have gotten accustomed to this. But we are talking of a long-term war against a very violent group. This is going to require more sustained support,” said. “We continue to defeat ISIS, but the situation is not to our liking. We do need more weapons.”

    But Brett McGurk, US envoy to the anti-ISIS coalition and Deputy Assistant Secretary for Near Eastern Affairs, told Rudaw last week that there were no problems in arms deliveries via Baghdad. He said the White House had not changed its policy on the issue.

    “So we are making sure that Peshmerga is very well supplied and so far with this new (Iraqi) government there has been absolutely no delay, no obstruction to anything that we have tried to send to Peshmerga,” McGurk claimed. “That’s something we are going to continue,” he vowed.

    The irony in this tale is that the pro-Iranian Shiite militias propping up the hobbling Iraqi Army in the fight with ISIS have easier access to weapons, which they get from the central government. Among them are groups like the Iraqi Hezbollah and League of Righteous, which have fought deadly wars against US forces in Iraq and remain vehemently opposed to US interests.

    Consider this irony: in a picture that appeared on social media, Iran’s legendary Quds force commander Qasem Soleimani is seen surrounded and protected by US M1 Abrams tanks.

    Kurds understand the legality issue with the US making direct arms deliveries to the Peshmerga. But Washington has a history of directly supplying arms to groups that served US national interests, without going through any governments.

    The issue with the Kurds, Erbil feels, is about lack of political will by the Obama administration making this exception for the Kurdish forces, even though the Peshmerga have so far paid with well over 1,000 lives as they stand as a bulwark against a malevolent and capable force that has vowed to take its war to the world.

    For the second time, there is a bipartisan bill in the US Congress that would authorize direct defense supplies to the KRG for three years. The bill has 41 cosponsors, including 29 Republicans and 12 Democrats. But it must go through several more steps before reaching the Congress floor.

    On CNN, Talabani also blasted Baghdad for withholding the Kurdish government’s budget, which has caused a huge financial crisis: on the one hand Erbil is fighting for survival and for the world against ISIS, and on the other it is struggling with a very serious financial crunch. This has placed a huge financial strain on Kurdish civil servants who have been suffering with little or no pay for more than a year. Baghdad has refused to stand by an agreement that was supposed to have resolved the dispute.

    “We are in the midst of a financial crisis,” Talabani warned, reminding the world that Kurdistan has taken in 1.4 million refugees and internally displaced people (IDPs) from Syria and other parts of war-torn Iraq.

    “This is taxing our own government resources,” he said. “We are providing healthcare, education and all other kind of services to these IDPs. Baghdad is still not providing us our full entitlement of the federal budget.

    “Our brave soldiers that are currently on the frontline fighting against ISIS have not been paid two months of their salaries, because of the situation we are in now, because Baghdad has not paid us.”
    Last edited by pinkadonai1; 04-23-2015 at 03:59 PM.

  8. #8

    Re: The Dinar Daily, Thursday April 23, 2015

    ‘Oil set to rally around $80 per barrel’

    The former British Petroleum (BP) chief executive predicts an oil price boom in the near future.
    Tony Hayward, who runs the Iraqi Kurdistan-focused Genel Energy, said oil prices are set to soar as the Organization of the Petroleum Exporting Countries (OPEC) has taken just six-months to stop the US shale oil rise in its tracks, FT reported on Wednesday.

    Hayward said OPEC had shown itself to be "the most successful cartel in history," predicting oil prices to return to near $80 a barrel soon.
    He also said the rapid fall in drilling rigs in the United States would soon see the US oil output slow or fall.

    While Hayward acknowledged some OPEC members had been hurt by the oil price crash, he said OPEC's longer-term decision to maintain production had been justified.
    “Over a 1-2 year time period, in terms of defending your market share, it's been a success...I would expect them to continue on the course they set. It's having exactly the consequences they envisaged,” he said.
    Oil prices saw a hike on Wednesday after the US Energy Information Administration (EIA) reported a drop in America's output. Brent crude was up 66 cents at $62.74 a barrel for June delivery, while the US crude was up 20 cents to $56.81 per barrel.

  9. #9

    Re: The Dinar Daily, Thursday April 23, 2015

    Islamic State executes another Kurdish Peshmerga fighter

    Islamic State executes another Kurdish Peshmerga fighter Ibrahim Salahaddin. Photo: IS media

    ERBIL-Hewler, Kurdistan region ‘Iraq’,— The Mosul division of the Islamic State group (IS) in Iraq released on Wednesday night a video purporting to show the execution of a Kurdish Peshmerga soldier from Qushtapa, a town near Kurdistan capital city of Erbil. IS hold the Kurdish government responsible for his death, threatening to behead another Kurdish soldier captive, after IS suffered several defeats at the hands of the Peshmerga forces.

    In the video the Peshmerga called on the Kurdish government to save their captives. IS captured the Peshmerga in the Hamdaniya battle in the area of Tal Aswad.

    The Peshmerga’s full is name is Ibrahim Salahaddin and he was a corporal in 5th battalion of the Zeravani force, which is under the command of the Peshmerga Ministry of the Kurdistan Regional Government, Bas news reported.

    He was captured in August last year and since then has been held captive by IS insurgents in Mosul, northern Iraq.

    “O tyrants of the Kurds, you have gone too far in your disbelief and transgression, until the matter reached the point that you rant and boast about killing Muslims and mujahideen. By Allah, by Allah, we will take revenge for the pure blood. Allah permitting, we will make you taste what the filthy Shi’ite Rawafidh [those who reject their version of Islam] tasted in Beiji and Ramadi. This is the fate of one of your captives, and there are dozens like him awaiting their fate in the prisons of the Islamic Caliphate,” a Kurdish IS militant says in the video.

    Another Peshmerga prisoner is shown in the video calling on Barzani to save the captured Peshmerga forces. “Rescue us, Masoud Barzani… By Allah, my fate and the fate of all the Peshmerga will be the same as this one,” he said.

    The video comes after IS suffered several defeats on the Kirkuk and Mosul frontlines with the Peshmerga capturing over 11 villages in southern Kirkuk backed by international air strikes.

    Islamic State executes another Kurdish Peshmerga fighter Ibrahim Salahaddin. Photo: SM

    Last month a Kurdish captive has been executed by IS members according to the IS propaganda video in Kurdish language, which aims at recruiting potential jihadists in the Iraqi Kurdistan region.

    The video, entitled A message to the people of Kurdistan, features an Iraqi Kurd top military commander, known by the nom de guerre of Abu Khattab al-Kurdi, who helped IS in the battle against fellow Kurds in the border Kurdish town of Kobani in Syrian Kurdistan.

    Over 500 Kurds have joined the Islamic state, of which 250 were killed by either the Peshmerga forces or Kurdish groups fighting IS in Syria.

    Copyright ©, respective author or news agency, | Agencies |

  10. #10

    Re: The Dinar Daily, Thursday April 23, 2015

    20 commercial ships with variety of tonnage arrive Basra ports

    Shafaq News / The Iraqi Ministry of Transport announced on Thursday, the arrival of 20 commercial ships with variety of tonnage arrived to Basra ports far south of the country.

    The ministry said in a statement reported for "Shafaq News", that” Iranian ships have arrived Maaqel commercial port in central Basra with a variety of tonnage “.

    The statement added that four ships arrived Umm Qasr port southern Basra.

    The statement said that three commercial ships arrived Khor Al-Zubair port southern Basra .

    While two ships arrived port of Umm Qasr southern Basra with a variety of cargo.
    Last edited by pinkadonai1; 04-23-2015 at 04:00 PM.

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