The provincial government announces a political meeting on the budget and send a message to Baghdad

The Kurdistan Region Council of Ministers during a meeting on Sunday that the passage of the federal budget law is a clear violation of the principles of partnership and consensus on which the new Iraq was built.

The Council of Ministers of the Kurdistan Region expressed its appreciation to all the Kurdish blocs in the Iraqi Council of Representatives, praising their position and aligning them together and unify their word and position on the issue of the Iraqi budget law, and supported the unity of this row.

The Council decided to hold a joint meeting in the next few days with the Parliament of Kurdistan and the political parties in the Kurdistan Region to discuss this issue. According to a government statement.

The Council of Ministers of the Kurdistan Region stressed that the Kurdistan Region, despite all the problems and differences, is committed to resolving all problems with Baghdad on the basis of the Constitution, and expressed the hope that the talks and dialogue between the Kurdistan Regional Government and the Iraqi federal government to a result in the interest of everyone and solve all Problems.

After a difficult labor, the Iraqi parliament approved yesterday the law of the general budget for 2018, ending months of disagreements on most paragraphs of the law, especially the allocations of “popular mobilization” and oil-producing provinces, at a time boycotted Kurdish deputies meeting in protest to reduce the share of the region from 17 percent to 12 , 6 percent, threatened to boycott the political process.

Article Credit: shafaaq.com

BGG ~ This is almost comical… Think about this for a sec…

These guys, none of whom are elected and aren’t regional MP’s (because the Parliament was disbanded by Massoud Barzani) – are only advisers to Nerchivan Barzani who wasn’t elected either…

…all get together, look “super-duper” official and “send a message” to Baghdad.

Really?!?

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PM Barzani: This was not the Iraq we wanted after 2003

ERBIL, Kurdistan Region — KRG Prime Minister Nechirvan Barzani expressed that Iraq was founded after 2003 on the basis of partnership and the budget passed on Saturday did not underscore that.

The premier said at a press conference on Sunday it was “unfortunate” that the Iraqi bill was approved without meeting Kurdish demands because they reflect the government and the people.

The work of the Kurdish blocs in Baghdad was “appreciated” by Barzani.

“I want to thank all Kurdish factions for their attempts recently to guarantee Kurdish share in the budget,” he said, while promising to speak with all Kurdish parties and MPs.

“Despite all the internal issues in Kurdistan, all Kurds in Baghdad strived for Kurdistan’s interests,” Barzani said.

He stressed that he believes dialogue is the only way to resolve pending issues and he remains “hopeful.”

“I am in constant contact with Prime Minister [Haider al-Abadi] to resolve issues,” said Barzani…

Read More: http://www.dinarupdates.com/showthread.php?56432-PM-Barzani-This-was-not-the-Iraq-we-wanted-after-2003

BGG ~ PM Barzani? PM Barzani? What is he the the PM of? He wasn’t ELECTED by ANYONE!!

Oh and BTW – exactly how does the Kurdish Leadership’s theft, graft and corruption fit in this Utopian Iraq you’ve had planned since 2003??

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Will the Presidency of the Republic block the ratification of the budget law?

Baghdad / .. The National Alliance, on Sunday, blocking the Presidency of the Republic to approve the law of the budget of 2018, voted by the House of Representatives, on Saturday.

The MP for the alliance Thunder Diamond for the “eye of Iraq News,” that “the Presidency of the Republic consider the supreme interest of the country will not put the sticks in the wheel of ratification of the budget law,” asserting that “the rights of the Kurdistan region installed in the budget through the proportion of population and were distributed fairly” .

He added that the diamond “political consensus was present in the budget, but the insistence of some blocks on what you want forced us to do so,” noting that “passing the budget law is a fundamental issue because the interests of the country depends on them and should not go to this end.” Finished

Article Credit: aynaliraqnews.com
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Central Bank of Iraq Auctions $177,669,700 on 07 March 2018

Baghdad (IraqiNews.com) The Central Bank of Iraq (CBI) currency auction on March 7 registered $177,669,700 in sales, a -1.91% volume decline from the US $181,121,050 sold by Iraqi Dinar, credit and transfer at the previous auction held on March 6.

The latest auction was attended by 45 banks and 9 remittance companies. The same institutions attended the auction held on March 7 compared to the previous auction.

Data for the March 7 auction was made public by CBI Announcement Number 3650.

Dollar sales in the in the period January 1, 2018 to March 7, 2018 saw an increase of -1% compared to the sales of US $6.79 billion in the same period in 2017. The total amount of US currency sold by CBI in the calendar year 2017 was US $15.7 billion.

An analysis of the monthly dollar sales by CBI since January 2016 reveals highly fluctuating volumes. During the period from January 2016 to February 2018, sales of US dollars averaged US $1.89 billion per month. Peak volumes were reached in May this year when sales touched US $2.3 billion.

Article Credit: http://www.dinarupdates.com/forumdisplay.php?5-Current-Iraq-NEWS

BGG ~ I will continue to highlight the regular auctions. After recently asking around about the reasons for the “tightening” of the supply of Dinar in the U.S… one of the main reasons I got was the fewer and fewer auctions. Wait – what?!? They are still having fairly robust auctions.

So, obviously, that’s not true… so what is it?

Another possibility is this MASSIVE financial embargo on Kurdistan, provided this was where currency was coming from.

I have also heard of a couple of major players talking about having money in – or being able to get money out of Kurdistan… all baloney. Kurdistan has been under very tight controls since snubbing the world diplomats with this sham vote pushed by Barzani.

Why was it a sham vote? Simple fact: you can’t just take what isn’t yours to take just because you vote on it.

Back to my previous rebuttal – anyone who actually had money in Kurdistan would have either gotten it out or is REALLY “up a creek”… likely just more B.S.

So…

1) Fewer auctions?

2) Tightening borders (fewer exports)?

3) More demand? I sincerely doubt it.

4) IMHO and most likely, the supply here in the U.S. from disgruntled sellers, which is likely where the bulk of the U.S. supply really comes from, and current interested buyers has finally reached a point of parity where the “supply – demand” scales are more evenly balanced.

Hence, the price goes up (Currently selling between $1100-$1200 per million)

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URGENT A bilateral meeting between Mr. Ammar al-Hakim and al-Abadi

Baghdad: al-Furat News – President of the National Alliance, Mr. Ammar al-Hakim, hold an important meeting with Prime Minister Haider Abadi now.

A source told the agency {Euphrates News} today that “Mr. Ammar al-Hakim is currently holding in his office in Baghdad an important meeting with Abadi to discuss the latest developments in the Iraqi arena.”

He pointed out that “the meeting witnessed the issue of elections and the need for honest competition without punctuation.”
Article Credit: alforatnews.com

BGG ~ What I wouldn’t give to have been a “fly on the wall” in that meeting.

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Mnt Goat (Dinar Guru) –  Here it comes…RV…All I can say is – I TOLD YOU SO!  Here come the re-education process we have been waiting for all along.  Folks – Iraq is starting the rollout the rollout.Now be patient and let the process go forward. We will be at the banks shortly.  On Tuesday Iraqi TV was showing lower category notes and explaining them to give the citizens instructions on how to use them and what to expect in the coming weeks. WOW!  Then later out pops this article in the news media. Can it get any better?  Article:   “CURRENT NOTES SOON TO BE REPLACED”   Quote:  “About 5 trillion Iraqi dinars ($4.3 billion USD) will circulate along with the old notes, said al-Yasseri, gradually replacing the older issues. He added that for now, both old and new notes will circulate side-by-side.”

Read more: http://www.dinarupdates.com/observer/
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Mike (Dinar Guru) –   Quote:  “Government / private banks and authorized financial transfer companiesM / training course…We would like to inform you about a training course entitled “Counterfeiting and counterfeiting local and foreign currency and counterfeiting”   …who counterfeits a currency worth 0.00090 to the dollar? And, it’s not even accepted outside of Iraq itself. Counterfeiting a $100 bill makes perfect sense, but a 50K note worth $40 bucks?  [They look towards the future Mike.]   I guess so but Iraq’s currency will slowly rise in value due to the effect of the Balasaa-Samuelson effect, it’s not an overnight deal. In addition, security symbols, raised dots, colored threads and the Spark optical features make this one of the toughest currencies to counterfeit today. With a value of 0.00090 to $1.  Shabibi told us all throughout 2011 and 2012 that counterfeiting was an excuse by Iraq’s leadership to not make a change in the value of the dinar. It was a scare tactic. Why we’re still seeing this stuff is beyond me.   …it sure seems like a lot of work for a currency that’s essentially worthless outside the country.
Read more: http://www.dinarupdates.com/observer/
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Kirkuk to hold elections with other provinces, first time in 13 years

BAGHDAD, Iraq – After 13 years of being given a special status, Kirkuk is taking part in Iraqi provincial elections at the same time as other provinces on December 22.

Iraqi MPs who represent Kirkuk province – including Kurds, Arabs, and Turkmens – held a press conference on Saturday afternoon, declaring they have passed a law which allows the province to hold elections on December 22 along with other provinces.

Kirkuk MPs were delighted with the decision and congratulated the people of Kirkuk.

Rebwar Taha, a Patriotic Union of Kurdistan (PUK) MP for Kirkuk, said “we have decided to live together and die together.”

He explained the law will last for four years, and will therefore only apply to this term of elections.

Shakhawan Abdullah, a Kurdistan Democratic Party (KDP) MP for Kirkuk, said he hopes the situation in Kirkuk is normalized before the elections take place so that everyone can participate.

Due to rivalries between Turkmen and Arabs on one hand and Kurds on the other, provincial elections have not taken place in the ethnically mixed city of Kirkuk since 2005.

As many as 900,000 voters are eligible to vote across the province.

Since 2003, Iraq has allowed Kirkuk to hold just one single provincial election due to its “exceptional status.”

Kirkuk was taken over by Baghdad on October 16 after Peshmerga forces pulled out in the face of a major assault.

Oil-rich Kirkuk is a flashpoint between Erbil and Baghdad, which both stake a claim to the province. It is one of the disputed areas and as such falls under Article 140 of the constitution.

Article 140 addresses the issue of the disputed areas claimed by both the regional and central governments. Under it, a census and referendum should have been held by 2007. This has never occurred.

Read More: http://www.dinarupdates.com/showthread.php?56431-Kirkuk-to-hold-elections-with-other-provinces-first-time-in-13-years
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G-Lin (Dinar Guru) –   Article:  “Law of the National Oil Company .. A new era for the development of the economy”    This…art. tells us that  “the Iraqi National Oil Company will be the second largest oil company in the world after Aramco and the largest of all international oil companies. Good stuff. How can Iraq continue to conduct business with a programed artificial devalued rate and operate as the 2nd largest oil co. in the world? Doesn’t make sense at all to me.  They also are beefing up their export industry and that is what we need to see. The tradable international rate will need to be in place IMO.

Read more: http://www.dinarupdates.com/observer/
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G-Lin (Dinar Guru) –   Article:  “Parliamentary Energy: The law of the National Oil Company will give a share to every Iraqi citizen”   It has taken years. But it did pass and having them all agree on it was the biggest hurdle. Finally profit sharing is addressed. This is the biggy. The entire world has been waiting for this and now it is done. 

Read more: http://www.dinarupdates.com/observer/
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Sadrists rally against corruption in Baghdad ahead of elections

Supporters of fiercely pro-Iraq Shiite cleric Muqtada al-Sadr gather on Friday at the nation’s capital.

Some held signs reading “the people demand accountability for the corrupt.”

The demonstrators gathered at Tahrir Square, as Iraqi lawmakers are yet to pass a 2018 spending bill.

Others read “million-man march, reformist, electoral, walking towards reform.”

The country is set to hold May 12 parliamentary elections.

Article Credit: Rudaw.net

BGG ~ This may be some of the best news yet. Seeing Sadr and his people on this side of things is a very, very big deal.

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Some interesting headlines…

Maliki’s media office reveals the reality of the deterioration of the latter’s health and his departure to Tehran

Baghdad agrees to raise the proportion of Kurdistan from the budget and Erbil is waiting

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The Wall Street Journal predicts Abadi will remain in office after the May elections

Baghdad today – “The Wall Street Journal” in a report published Friday, the survival of Prime Minister Haider Abadi in office after the next election, while indicated that the alliances after May, who will decide the form of the next government.

The pro-Iranian Shiite factions, inspired by Hezbollah, also act as political parties, and as with Hezbollah, their ability to exercise political power within Prime Minister Haider al-Abadi’s government and abroad is derived from their weapons, By the total votes they will receive in the May 12 elections. ”

“The multiplicity of political forces and the influence of Iran and the fragmentation of the Iraqi parliamentary system means that post-election bargaining will determine the course of the state rather than the elections itself.”

“Nothing fundamentally changes in the way Iraq is governed,” the paper quoted Haddad, an Iraqi political specialist at the National University of Singapore, as saying.

Haddad added: “The election is likely to result from another coalition government headed by Abadi”

“There is no coherent opposition that can easily outperform it,” Haddad said.

Article Credit: baghdadtoday.news (Special Thanks to Charles Bright)

BGG ~ I like the WSJ’s optimism… we all know how accurate they were on the last election they “predicted”.  I’m hoping on this one, they are more accurate.

______________________________________________________________

Click this link to join the DU “private” FaceBook Group…

https://www.facebook.com/groups/571383766355188/

(go here and ask to join… then add some Dinar Friends!!)

______________________________________________________________

Post RV Checklist (it’s getting to be that time!! Listen up!!)

Dos and Don’ts of Windfall Wealth:

Treat it like a PowerBall win

– Tell no one, not even family. If you must talk, do so with one who is already in the know.

– Don’t run out & buy new “stuff”. People notice.

– Get an unpublished number and give it out very sparingly.

– Get a tax accountant you can trust to make sure the IRS is satisfied (Certified Opinion is something to look into) and pursue asset protection…

Read Complete List: http://www.dinarupdates.com/showthread.php?18519-The-Post-RV-Checklist-and-Flashback-documents&p=128477#post128477
______________________________________________________________

If you found this blog, our website or chats helpful – Forward it to a friend!! We couldn’t do it without you!!

Thanks – BGG!!

www.DinarUpdates.com

Abadi congratulates ‘all Iraqi nations’ for passing budget

ERBIL, Kurdistan Region – The prime minister of Iraq has congratulated “all the Iraqi nations” on the passing of the 2018 national budget.

Prime Minister Haider al-Abadi said “the passing of the budget bill is the fruit of cooperation between both the legislative and executive authorities.”

Abadi noted the bill was passed into law amid “challenging conditions” in Iraq, such as the fight against ISIS and efforts to restore services to war-ravaged areas.

Abadi said the passing of the budget bill will enable the government to carry out its work and to develop and service projects.

The decree from parliament will also commit the government to pay the salaries of Iraq’s civil servants, he said.

Abadi called on all ministries, institutions, and departments to work in the best possible manner, and pressed the need to work on “rationalizing spending, maximizing state resources and tightening control over public funds.”

With Kurds continuing to boycott, the Iraqi parliament passed its 2018 budget bill on Saturday afternoon after more than three months of disputes.

Abadi has insisted the Kurdistan Regional Government (KRG)’s share should be less, in proportion to the Kurdish population, estimated by Baghdad to be 12.67 percent. Kurdish MPs have not been willing to accept anything less than a 17-percent share.

Kurds claim their share is not sufficient or fair.

Article Credit: Rudaw.net

BGG ~ Well DUH – you’re the leader… there are always “challenging conditions”.

Haven’t you seen “Men in Black”? There’s always a rogue alien trying to blow up the world!!

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Sadrists rally against corruption in Baghdad ahead of elections

Supporters of fiercely pro-Iraq Shiite cleric Muqtada al-Sadr gather on Friday at the nation’s capital.

Some held signs reading “the people demand accountability for the corrupt.”

The demonstrators gathered at Tahrir Square, as Iraqi lawmakers are yet to pass a 2018 spending bill.

Others read “million-man march, reformist, electoral, walking towards reform.”

The country is set to hold May 12 parliamentary elections.

Article Credit: Rudaw.net

BGG ~ This may be some of the best news yet. Seeing Sadr and his people on this side of things is a very, very big deal.

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The World Bank funds an investment development project in Iraq

The Euphrates – The economic development project in Iraq, which is funded by an important part of the World Bank, is an achievement to guide investment in the current stage, said Essam Mahaweli, an economist.

“The project, which is financed by an important part of the World Bank, is an achievement to support the management of the capital and direct investment according to the actual need to the requirements of the current phase and to the infrastructure,” the newspaper quoted Al-Mahawi as saying in a press statement. To engage heavily in counseling programs and in a manner that enhances the absorptive capacity of unemployment in the various economic sectors.

He added that the time is now available to implement the project and the need for the contribution of the private sector in the support and implementation of programs, especially for banks and other companies involved in the project, “stressing that the employment opportunities that will be available to many sectors in the activation of decisions of the Kuwait Conference of donors, Its work, which the project will implement…

Read More: http://www.dinarupdates.com/showthread.php?56419-The-World-Bank-funds-an-investment-development-project-in-Iraq

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BGG Q & A

Q: I was wondering how much longer can Iraq keep jerking the international investors around before the international investors just throw their hand up in the air to walk away from Iraq. Just asking.

A: They already have. Davos?? Kuwait?? Ring any bells?? The clock is ticking.

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Central Bank of Iraq Auctions $181,121,050 on 06 March 2018

Baghdad (IraqiNews.com) The Central Bank of Iraq (CBI) currency auction on March 6 registered $181,121,050 in sales, a -5.19% volume decline from the US $191,034,174 sold by Iraqi Dinar, credit and transfer at the previous auction held on March 5.

The latest auction was attended by 45 banks and 9 remittance companies. The same institutions attended the auction held on March 6 compared to the previous auction.

Data for the March 6 auction was made public by CBI Announcement Number 3649.

Dollar sales in the in the period January 1, 2018 to March 6, 2018 saw an increase of -1% compared to the sales of US $6.65 billion in the same period in 2017. The total amount of US currency sold by CBI in the calendar year 2017 was US $15.7 billion.

An analysis of the monthly dollar sales by CBI since January 2016 reveals highly fluctuating volumes. During the period from January 2016 to February 2018, sales of US dollars averaged US $1.89 billion per month. Peak volumes were reached in May this year when sales touched US $2.3 billion.

Article Credit: http://www.dinarupdates.com/forumdisplay.php?5-Current-Iraq-NEWS

BGG ~ I will continue to highlight the regular auctions. After recently asking around about the reasons for the “tightening” of the supply of Dinar in the U.S… one of the main reasons I got was the fewer and fewer auctions. Wait – what?!? They are still having fairly robust auctions.

So, obviously, that’s not true… so what is it?

Another possibility is this MASSIVE financial embargo on Kurdistan, provided this was where currency was coming from.

I have also heard of a couple of major players talking about having money in – or being able to get money out of Kurdistan… all baloney. Kurdistan has been under very tight controls since snubbing the world diplomats with this sham vote pushed by Barzani.

Why was it a sham vote? Simple fact: you can’t just take what isn’t yours to take just because you vote on it.

Back to my previous rebuttal – anyone who actually had money in Kurdistan would have either gotten it out or is REALLY “up a creek”… likely just more B.S.

So…

1) Fewer auctions?

2) Tightening borders (fewer exports)?

3) More demand? I sincerely doubt it.

4) IMHO and most likely, the supply here in the U.S. from disgruntled sellers, which is likely where the bulk of the U.S. supply really comes from, and current interested buyers has finally reached a point of parity where the “supply – demand” scales are more evenly balanced.

Hence, the price goes up (Currently selling between $1100-$1200 per million)

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Kurdistan Region continues to loot Iraqi Oil and demand salaries of employees.

Article Credit: knoozmedia.com (Special Thanks to Paul Moseley)

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Kaperoni (Dinar Guru) –  …Banks don’t want to lose money.  They want to know what the spread is from day to day.  They want to know how much it’s going up and how much it’s going down and so on…this has always been an issue since I’ve been in this investment.  The Central Bank had to reduce the spread…Shabibi actually did a wonderful job.  He lowered the spread within the conditions set forth in their article IV consultations.  He got it down to 1200 or so on the street and held it there for 10 months.  In September of 2012 he announced he was going to begin currency reform so we assumed he was going to Article VIII at that point.  Then of course PM Maliki at the time said No, we’re not ready.  We don’t want this to occur…When Shabibi was out of the country for a conference Maliki put out a warrant for his arrest.  Which in essence kept him out of the country and stopped the process in it’s tracks.

Read more: http://www.dinarupdates.com/observer/
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Kaperoni (Dinar Guru) –  …IMF:   “Although performance under the Stand-By Arrangement has been weak in some key areas, understandings on sufficient corrective actions have been reached to keep the program on track. Against this background, Directors encouraged resolute implementation of the authorities’ program including continued efforts toward fiscal consolidation, strengthening the financial sector, and implementing structural reforms to promote private sector activity and improve the business environment.”   Very key…That is about as stern as I have ever seen from the IMF.   I just think were in a good place finally. With the help of the UST and IMF it looks like they got a plan to reduce the spread.  And with at 1220 now we are only 7 dinars away from 2%.  So by end of week maybe.  Can they hold it? Well I think there is to much riding on it to not to.

Read more: http://www.dinarupdates.com/observer/
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Kurdish blocs withdraw from political process in Iraq

All Kurdish blocs have decided to withdraw from the political process in Iraq and return to Kurdistan, MP of the Parliament Defense and Security and member of the Kurdish Alliance Shakha wan Abdullah announced on Sunday.

He added that after voting the 2018 state budget and Kirkuk crisis, there is nothing that binds the Kurdistan Region Government with the Baghdad Federal Government.

He further stated that the Kurdish Alliance members are convinced that continuing to participate in the political process in Iraq is meaningless.

Abdullah asserted that after this decision Kurds will return to their people in Kurdistan with their heads high.

The Iraqi parliament approved 12 articles of the budget bill amid boycott by Kurdish lawmakers, who protest what they call insufficient quota of the budget. The parliament also approved the Kurdish quota of the budget, made up 12.7 percent of the budget.

The new budget bill was drafted in October, cutting the region’s share to 12.67 percent, which outraged the Kurdish MPs, who seek to keep the region’s share of the budget as 17 percent as previously set based on populations estimates in 2005.
Article Credit: Thebaghdadpost.com (Special Thanks to Faron Davis)

BGG ~ Another not-so-smart move by Kurdish leadership in recent string of political missteps. They keep going back to an old play book and there is a new, emerging political dynamic in Iraq. Stay tuned!!

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Kaperoni (Dinar Guru) –   From the IMF last Sept…  “25. The government will gradually remove remaining exchange restrictions and a multiple currency practice (MCP) with a view to eliminating exchange rate distortions.Such a move towards acceptance of the obligations under Article VIII of the IMF’s Articles of Agreement will send a positive signal to the investor community that Iraq is committed to maintain an exchange system that is free of MCPs and restrictions for current international transactions and thus facilitate creation of a favorable business climate.”   So it’s coming.  That should perpetuate a new exchange rate regime as well causing the dinar to rise.  …I believe once it starts, it won’t take more than a year to rise to a value we are comfortable with.

Read more: http://www.dinarupdates.com/observer/
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Enorrste (Dinar Guru) –   …Once the ball starts rolling it will proceed quickly to a value that we can all enjoy.  The simple fact is that there are now a vast majority of factors in our favor versus the few left that seem to be holding this back.  ISIS is decimated in Iraq; the banking structure is becoming more internationally connected; interest in investing has risen even if actual investment has not yet begun; the CBI has finally tackled the problem with the spread (this is really key); the CBI is officially on the record now for some time to move toward a floating currency; talk of ending the auctions has risen to the point that it will become a reality soon; the IMF is trustee over the CBI and is on record to move Iraq into the real world; etc.  I will be surprised if we don’t see the float begin sometime this year.

Read more: http://www.dinarupdates.com/observer/
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Iraq budget: Kurdish demands blanked, but boycotting MPs sense ‘opportunity’

BAGHDAD, Iraq — With Kurds continuing to boycott, the Iraqi parliament passed its 2018 budget bill on Saturday afternoon after more than three months of disputes. Some Kurdish MPs see this as an “opportunity” that shouldn’t be missed.

Kurds claim their share is neither sufficient nor fair.

Sunni MPs participating in the session allowed for a quorum, which their Kurdish counterparts see as a political coup.

“They have committed a coup against the agreements they made with us in 2003,” Adil Nuri from the Kurdistan Islamic Union (KIU) told Rudaw.

Nuri was not completely disappointed, however. He called on Kurds to meet and make a decision to withdraw from the Iraqi government…

Read More: http://www.dinarupdates.com/showthread.php?56430-Iraq-budget-Kurdish-demands-blanked-but-boycotting-MPs-sense-%91opportunity%92&p=181414#post181414

BGG ~ Oh wow… lot’s of meat on this!!

1) How in the world the Kurdish leadership can look at this as a win is beyond me.

A) They’ve been stealing national oil for years – some portion of those proceeds were going to Maliki (reportedly).

B) They just got CAUGHT with 50,000 extra names on the employee list that DON’T EXIST!! They’ve been pushing, pushing, pushing to get this paid right away. Why?!? Because they knew there was some HINKY STUFF in there and they were looking to collect before anyone started looking too hard.

2) This language about “returning of all the money it gained through its export of Kirkuk oil…” is VERY STRONG LANGUAGE.

I don’t see how this can’t wind up with Maliki not getting tangled up in this “recouping” of assets.

______________________________________________________________

Some interesting headlines…

Maliki’s media office reveals the reality of the deterioration of the latter’s health and his departure to Tehran

Baghdad agrees to raise the proportion of Kurdistan from the budget and Erbil is waiting

______________________________________________________________

The Wall Street Journal predicts Abadi will remain in office after the May elections

Baghdad today – “The Wall Street Journal” in a report published Friday, the survival of Prime Minister Haider Abadi in office after the next election, while indicated that the alliances after May, who will decide the form of the next government.

The pro-Iranian Shiite factions, inspired by Hezbollah, also act as political parties, and as with Hezbollah, their ability to exercise political power within Prime Minister Haider al-Abadi’s government and abroad is derived from their weapons, By the total votes they will receive in the May 12 elections. ”

“The multiplicity of political forces and the influence of Iran and the fragmentation of the Iraqi parliamentary system means that post-election bargaining will determine the course of the state rather than the elections itself.”

“Nothing fundamentally changes in the way Iraq is governed,” the paper quoted Haddad, an Iraqi political specialist at the National University of Singapore, as saying.

Haddad added: “The election is likely to result from another coalition government headed by Abadi”

“There is no coherent opposition that can easily outperform it,” Haddad said.

Article Credit: baghdadtoday.news (Special Thanks to Charles Bright)

BGG ~ I like the WSJ’s optimism… we all know how accurate they were on the last election they “predicted”.  I’m hoping on this one, they are more accurate.

______________________________________________________________

Click this link to join the DU “private” FaceBook Group…

https://www.facebook.com/groups/571383766355188/

(go here and ask to join… then add some Dinar Friends!!)

______________________________________________________________

Post RV Checklist (it’s getting to be that time!! Listen up!!)

Dos and Don’ts of Windfall Wealth:

Treat it like a PowerBall win

– Tell no one, not even family. If you must talk, do so with one who is already in the know.

– Don’t run out & buy new “stuff”. People notice.

– Get an unpublished number and give it out very sparingly.

– Get a tax accountant you can trust to make sure the IRS is satisfied (Certified Opinion is something to look into) and pursue asset protection…

Read Complete List: http://www.dinarupdates.com/showthread.php?18519-The-Post-RV-Checklist-and-Flashback-documents&p=128477#post128477
______________________________________________________________

If you found this blog, our website or chats helpful – Forward it to a friend!! We couldn’t do it without you!!

Thanks – BGG!!

www.DinarUpdates.com

The Wall Street Journal predicts Abadi will remain in office after the May elections

Baghdad today – “The Wall Street Journal” in a report published Friday, the survival of Prime Minister Haider Abadi in office after the next election, while indicated that the alliances after May, who will decide the form of the next government.

The pro-Iranian Shiite factions, inspired by Hezbollah, also act as political parties, and as with Hezbollah, their ability to exercise political power within Prime Minister Haider al-Abadi’s government and abroad is derived from their weapons, By the total votes they will receive in the May 12 elections. ”

“The multiplicity of political forces and the influence of Iran and the fragmentation of the Iraqi parliamentary system means that post-election bargaining will determine the course of the state rather than the elections itself.”

“Nothing fundamentally changes in the way Iraq is governed,” the paper quoted Haddad, an Iraqi political specialist at the National University of Singapore, as saying.

Haddad added: “The election is likely to result from another coalition government headed by Abadi”

“There is no coherent opposition that can easily outperform it,” Haddad said.

Article Credit: baghdadtoday.news (Special Thanks to Charles Bright)

BGG ~ I like the WSJ’s optimism… we all know how accurate they were on the last election they “predicted”.  I’m hoping on this one, they are more accurate.

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Mahdi Al-Alak: There is a package of facilities for investors to be announced soon

(Independent) … Secretary-General of the Council of Ministers, Mahdi Al-Alaq, the government’s willingness to open the doors of investment in Iraq, noting that “a package of facilities for the work of investors will be announced soon.”

A statement from the Secretariat of the Council of Ministers received a copy of it on Sunday that the relationship “met with the director of Shell, Andrew Brown, in the presence of Chargé d’Affaires Mariel Khairat, and a representative of the British Embassy, ​​but Kelly.”

“The government is ready to open the doors of investment in Iraq after the conference on reconstruction of Iraq in Kuwait,” he said, adding that “a package of facilities for the work of investors will be announced soon.”

He reviewed the most prominent Iraqi government activities and preparations for a reconciliation conference in the Nineveh Plain soon.

For his part, Brown extended his congratulations to the Iraqi government on the final victory over the terrorist advocate, reviewing the achievements of the company in Iraq, expressing great desire to expand investment.

Article Credit: Mustaqila.com
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Interpol in Baghdad to receive arrest warrants against 37 personalities including ministers and senior officials

Information / Special … Revealed security expert and political analyst Ahmed al-Abyad, Wednesday, the creation of a list of wanted names up to 37 personalities, including candidates for the upcoming elections will be handed over to the delegation of Interpol located in Baghdad.

“The Iraqi government has prepared a list of 37 individuals required for the Iraqi judiciary issued arrest warrants for the theft of public money in large amounts.”

He added that “among these figures ministers and former officials and sons of officials and candidates for the upcoming elections fled days ago,” noting that “the arrival of the delegation of Interpol to Baghdad came to receive those notes and arrest and return them to Iraq.”

He explained that “the arrival of Interpol to Iraq to receive arrest warrants is a precedent did not happen previously and usually go to governments to hand over the memos,” referring to the “seriousness of those moves to arrest the corrupt.”

He said that “Interpol intends to hand over passport passports to those figures and circulate them to the countries of the world to arrest them.”

The Secretary-General of INTERPOL International Jürgen Stok told the Prime Minister Haider Abadi, on Tuesday, that the Iraqis sacrificed their blood in defense of world security, and it is our duty to stand with them.

Article Credit: almaalomah.com (Special Thanks to Tim Tarkington)
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BGG Q & A

Q: I was wondering how much longer can Iraq keep jerking the international investors around before the international investors just throw their hand up in the air to walk away from Iraq. Just asking.

A: They already have. Davos?? Kuwait?? Ring any bells?? The clock is ticking.

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Central Bank of Iraq Auctions $199,681,501 on 04 March 2018

Baghdad (IraqiNews.com) The Central Bank of Iraq (CBI) currency auction on March 4 registered $199,681,501 in sales, a 1.43% volume increase from the US $196,868,397 sold by Iraqi Dinar, credit and transfer at the previous auction held on March 1.

The latest auction was attended by 45 banks and 9 remittance companies. The same institutions attended the auction held on March 4 compared to the previous auction.

Data for the March 4 auction was made public by CBI Announcement Number 3647.

Dollar sales in the in the period January 1, 2018 to March 4, 2018 saw an increase of -1% compared to the sales of US $6.38 billion in the same period in 2017. The total amount of US currency sold by CBI in the calendar year 2017 was US $15.7 billion.

An analysis of the monthly dollar sales by CBI since January 2016 reveals highly fluctuating volumes. During the period from January 2016 to February 2018, sales of US dollars averaged US $1.89 billion per month. Peak volumes were reached in May this year when sales touched US $2.3 billion.

Article Credit: http://www.dinarupdates.com/forumdisplay.php?5-Current-Iraq-NEWS

BGG ~ I will continue to highlight the regular auctions. After recently asking around about the reasons for the “tightening” of the supply of Dinar in the U.S… one of the main reasons I got was the fewer and fewer auctions. Wait – what?!? They are still having fairly robust auctions.

So, obviously, that’s not true… so what is it?

Another possibility is this MASSIVE financial embargo on Kurdistan, provided this was where currency was coming from.

I have also heard of a couple of major players talking about having money in – or being able to get money out of Kurdistan… all baloney. Kurdistan has been under very tight controls since snubbing the world diplomats with this sham vote pushed by Barzani.

Why was it a sham vote? Simple fact: you can’t just take what isn’t yours to take just because you vote on it.

Back to my previous rebuttal – anyone who actually had money in Kurdistan would have either gotten it out or is REALLY “up a creek”… likely just more B.S.

So…

1) Fewer auctions?

2) Tightening borders (fewer exports)?

3) More demand? I sincerely doubt it.

4) IMHO and most likely, the supply here in the U.S. from disgruntled sellers, which is likely where the bulk of the U.S. supply really comes from, and current interested buyers has finally reached a point of parity where the “supply – demand” scales are more evenly balanced.

Hence, the price goes up (Currently selling between $1100-$1200 per million)

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Foreign investment in Iraq.. What we accept and what we do not accept

Iraqis are looking to build the economy after an investment environment, which may be more encouraging than before, to attract foreign investments. The level of security risk, which is one of the obstacles preventing investors from coming to Iraq , And the government has the responsibility to ensure the removal of the rest of the obstacles, foremost of which is administrative corruption .

First, we would like to clarify that investments in the extractive sector are outside the framework of the present article discussion, since the conditions for acceptance or non-acceptance of foreign investments do not fully apply to them.

And the conditions that separate the investments accepted and unacceptable, in fact many, but there are important conditions should be paid to them for acceptance and rejection, especially those core which have been neglected and passed these investments will cause serious damage to the Iraqi economy may appear on it immediately.

The foreign investments are acceptable and clear without the inference and detail that the foreign investments acceptable and preferred are those investments that achieve at least four conditions; the first to employ a larger number of Iraqi labor, and the second to exploit the local physical inputs, and that the size of local inputs greater than those imported, And the third requirement to re-invest the largest proportion of its profits in the national economy, and the fourth to contribute to bring foreign currency to the Iraqi market as in tourism projects Unacceptable foreign investments In terms of unwanted foreign investments, there is a fundamental condition that must be observed even if it fails to meet the other conditions (of course not environmental or social damage … etc.).

This essential condition is that these investments are not dependent upon the importation of most or all of their operational inputs with the availability of local inputs, and then transfer their profits abroad through the demand of the dollar in the local market for foreign currencies. The exchange rate of the dollar.

This is usually the case if those investments are directed to the service sector. As an example of the violation of this essential condition is whether foreign investments are directed to the establishment of malls, for example, from which there is limited interest at first in the construction of an Iraqi labor, but then no locally produced goods contribute to the growth of the national economy. Which are imported, sold to the local consumer, and then turned the profits earned abroad by buying the dollar from the parallel market, causing pressure that could lead to a rise in the dollar exchange rate in the domestic market if the demand is large on the dollar by pumped investors Their money is in such a kind only Investments, usually a few pros and large damaging.

But if the government pledged to meet the needs of this kind of investment from the dollar at the official exchange rate, it would not be harmed by the situation of buying the dollar from the market, as this would drain Iraq’s foreign currency assets.

The reason is that investment in some types of services does not increase the contribution of material output to the GDP, which thus creates useful future connections and background to the economy and to the individual, and that all its connections and benefits are in and out. * Professor of Economics

Article Credit: alsabaah.iq (Special Thanks to Vernell)

1) This sounds like this is about foreign investment NOT relating to oil (IMHO):

…”we would like to clarify that investments in the extractive sector are outside the framework of the present article discussion”…

2) We (The U.S.) should really consider this guideline here too!!

…”foreign investments acceptable and preferred are those investments that achieve at least four conditions; the first to employ a larger number of Iraqi labor, and the second to exploit the local physical inputs, and that the size of local inputs greater than those imported, And the third requirement to re-invest the largest proportion of its profits in the national economy, and the fourth to contribute to bring foreign currency (Scratch out the word currency and put in it’s place “money” – better translation) to the Iraqi market as in tourism projects”…

3) This part is relative to Iraq alone (due to being a developing economy):

…”This essential condition is that these investments are not dependent upon the importation of most or all of their operational inputs with the availability of local inputs, and then transfer their profits abroad through the demand of the dollar in the local market for foreign currencies.”…

4) This is a sub-title in the article >>>>>>>>>

“The exchange rate of the dollar.”

This excerpt bemoans large, private, institutional investment that invests, contributes little to the basic fiber of the local market and then buys up the USD so as to have an “exit vehicle” to extract their initial investment and profits from the region.

“… (I rearranged this slightly so it makes more sense) Their money is in such investments only – usually by a few (large) pros (which is) damaging (our money supply).”…

This next part is a little confusing but…

…”if the government pledged to meet the needs of this kind of investment from the dollar at the official exchange rate, it would not be harmed (THE INVESTMENT, that is… – think CONTEXT HERE) by the situation of buying the dollar from the market, (I scratched the word “as” and inserted – “BUT”) BUT this would drain Iraq’s foreign currency assets.”…

IN SUMMATION:

A) THIS PIECE CLEARLY ILLUSTRATES WHAT IRAQ NEEDS TO DO…

IRAQ NEEDS A LIBERALIZED, INTERNATIONALLY TRADABLE, RECOGNIZED CURRENCY. ASAP!! FOREIGN INVESTMENT WON’T PUT UP WITH THIS BEING TOLD WHAT AND WHAT NOT TO DO…

DAVOS, KUWAIT AND THE RECENT COOL APPROACH OF BIG INVESTMENT SHOULD BE A DEAD-GIVEAWAY.

B) THEY ALSO APPEAR BE POINTING TO A FINITE SUPPLY DINAR & USD.

ARTICLES LIKE THIS HIGHLIGHT IRAQ’S KEEN INTEREST IN MINIMIZING SHOCKS TO THEIR CURRENCY RESERVES AND THEIR EXCHANGE RATE. THEY ARE SENSITIVE TO THIS SUBJECT.

ALL OF THE ABOVE CHANGES ONCE THEY GIVE FOREIGN INVESTMENT A CLEAR WAY IN AND WAY OUT – VIA AN INTERNATIONALLY TRADABLE , RECOGNIZED CURRENCY.

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Kaperoni (Dinar Guru) –  …Banks don’t want to lose money.  They want to know what the spread is from day to day.  They want to know how much it’s going up and how much it’s going down and so on…this has always been an issue since I’ve been in this investment.  The Central Bank had to reduce the spread…Shabibi actually did a wonderful job.  He lowered the spread within the conditions set forth in their article IV consultations.  He got it down to 1200 or so on the street and held it there for 10 months.  In September of 2012 he announced he was going to begin currency reform so we assumed he was going to Article VIII at that point.  Then of course PM Maliki at the time said No, we’re not ready.  We don’t want this to occur…When Shabibi was out of the country for a conference Maliki put out a warrant for his arrest.  Which in essence kept him out of the country and stopped the process in it’s tracks.

Read more: http://www.dinarupdates.com/observer/
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Kaperoni (Dinar Guru) –  …IMF:   “Although performance under the Stand-By Arrangement has been weak in some key areas, understandings on sufficient corrective actions have been reached to keep the program on track. Against this background, Directors encouraged resolute implementation of the authorities’ program including continued efforts toward fiscal consolidation, strengthening the financial sector, and implementing structural reforms to promote private sector activity and improve the business environment.”   Very key…That is about as stern as I have ever seen from the IMF.   I just think were in a good place finally. With the help of the UST and IMF it looks like they got a plan to reduce the spread.  And with at 1220 now we are only 7 dinars away from 2%.  So by end of week maybe.  Can they hold it? Well I think there is to much riding on it to not to.

Read more: http://www.dinarupdates.com/observer/
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Kurdish official: Baghdad committees completed the audit of salaries of the region by 96%

(Baghdad: Al-Furat News) The spokesman of the Ministry of Health in the Kurdistan region, Khalis Qader, on Friday, cutting committees sent by the federal government to the region a significant step in resolving the outstanding issues between the parties.

Qader said in a press statement that “the competent committees of the federal government, which works to audit the salaries of employees of the Kurdistan region, has so far completed more than 96% of the instructions entrusted to it.”

He added that “the committees raised more than two positive reports, to the federal government, to pay the salaries of employees of the Kurdistan region, and the basis of the staff of health and education.”

“According to the reports of the committees, it told the federal government, the matching checks with the existing explanations,” adding that “but there is no response by the federal government to the reports of its committees to the territory.”

The spokesman of the Ministry of Health in the Kurdistan region, revealed on February 5 that ”
“We are waiting for the decision to pay salaries for the month of January this year, by the head of the federal government, Haider Abadi.”

He hinted that the health of Kurdistan demanded that the federal government to pay the salaries of its employees for the month of December 2017, and be spent within the decision on salaries last January, “adding,” But we do not know if the December dues or not. ”

Article Credit: alforatnews.com (Special Thanks to Charles Bright)

BGG ~ My first reaction is…

They had to do an AUDIT Because the CROOKED Kurdish leadership was asking for salary money for 50,000 employees that didn’t exist!! It’s no wonder Baghdad kicked them in the 8@!!$$ with 12.5% of the budget thing…

Also, this title is a little misleading, the real version is more like – they have finished (reportedly) 96% of the audit. Meaning: they are NEARLY done (with the AUDIT). Not actually done.

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Kaperoni (Dinar Guru) –   From the IMF last Sept…  “25. The government will gradually remove remaining exchange restrictions and a multiple currency practice (MCP) with a view to eliminating exchange rate distortions.Such a move towards acceptance of the obligations under Article VIII of the IMF’s Articles of Agreement will send a positive signal to the investor community that Iraq is committed to maintain an exchange system that is free of MCPs and restrictions for current international transactions and thus facilitate creation of a favorable business climate.”   So it’s coming.  That should perpetuate a new exchange rate regime as well causing the dinar to rise.  …I believe once it starts, it won’t take more than a year to rise to a value we are comfortable with.

Read more: http://www.dinarupdates.com/observer/
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Enorrste (Dinar Guru) –   …Once the ball starts rolling it will proceed quickly to a value that we can all enjoy.  The simple fact is that there are now a vast majority of factors in our favor versus the few left that seem to be holding this back.  ISIS is decimated in Iraq; the banking structure is becoming more internationally connected; interest in investing has risen even if actual investment has not yet begun; the CBI has finally tackled the problem with the spread (this is really key); the CBI is officially on the record now for some time to move toward a floating currency; talk of ending the auctions has risen to the point that it will become a reality soon; the IMF is trustee over the CBI and is on record to move Iraq into the real world; etc.  I will be surprised if we don’t see the float begin sometime this year.

Read more: http://www.dinarupdates.com/observer/
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Abadi is looking with the head of Interpol to recover the smuggled money .. This is the substance of the agreement

Baghdad / Sky Press – Prime Minister Haider al-Abadi on Tuesday discussed with Interpol Secretary-General Jürgen Stok the Iraqi efforts to recover smuggled money and recover fugitive criminals.

“During the meeting, which was held in Baghdad, an exchange of experiences and capacity-building was discussed with the crimes of informatics, social networking, money laundering and terrorism,” a statement issued by Al-Abbadi’s office said.

He added that “Jürgen Stok price of the Iraqi forces victories on terrorism, stressing that Iraq has become an active member and integrated in the construction and activation of the system of notification and warning and the construction of a global biometric system and the use of industrial intelligence applications and databases to detect the crimes of fraud and suggling.

“We have now stood with Iraq to preserve its security and the security of the world,” he said.

Article Credit: www.skypressiq.net (Special Thanks to Paul Moseley)
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Some interesting headlines…

The parliamentary pledge to approve the budget by a tripartite meeting and a repeat scenario

Baghdad agrees to raise the proportion of Kurdistan from the budget and Erbil is waiting

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The Iraqi parliament approves the article on the Kurdistan region … and the Kurdish deputies boycotted the session

The Iraqi Council of Representatives (parliament) on Thursday, the article on the Kurdistan region in the general budget of the country for the current year, despite the boycott of the Kurdish deputies for the meeting because of the inclusion of their demands within the budget.

Baghdad – Sputnik . Article 9 of the Kurdistan Region stipulates that the share of the Territory shall be determined from the total actual expenditure according to the “population” of each governorate and paid by the Federal Ministry of Finance with the approval of the Prime Minister.

A source told the agency “Sputnik”, said the Iraqi Council of Representatives acknowledged the absence of Kurdish MPs article on the Kurdistan region in the budget, noting that the Council raised its meeting to Saturday, because of the imbalance of the quorum after the adoption of 12 articles out of 48 (total budget items) .

The revenues of the general budget are estimated at (91643667236) dinars, ie about 77 billion dollars. The expected revenues from the export of crude oil were calculated on the basis of the rate of 46 dollars per barrel at an export rate of three million eight hundred and eighty-eight thousand barrels per day, including 250 thousand barrels Daily from the Kurdistan region.

The expenditure allocations amount to JD (104,158,183734) dinars (88 billion dollars), while the total planned budget deficit (125,145,168,498,000) dinars (11 billion dollars).

Today saw the province of the deputies of the Kurdish blocs, in protest to reduce the share of the Kurdistan region from 17 percent to 12.6 percent and vote on the paragraphs of the Kurdistan region.

The situation was exacerbated between Baghdad and Erbil after the referendum held by the Kurdistan region on 25 September 2017. The referendum commission in the region announced the participation of 72.16 in the voting process, of which 92.73% agreed on the separation and the formation of an independent state. Baghdad refused to recognize the referendum and its results.

On October 16, the federal forces began the process of imposing security and law in the disputed areas, and resulted in the restoration of government installations and oil in the province of Kirkuk and the restoration of several other disputed areas of Peshmerga forces before heading later to regain control of the border crossings between Kurdistan, Syria and Turkey.

Article Credit: arabic.sputniknews.com (Special Thanks to Charles Bright)

BGG ~ Wait – how could the Kurds be corrupt? They just admitted (with a straight face) to having an extra 50,000 employees on the list of employees to be paid by Baghdad… but that Baghdad should make good on it’s agreement to pay the salaries. Remember them pushing, pushing, pushing… here’s why. I mean, what could go wrong with having them in charge of oil numbers?? Right?!?

(P.S. just a guess, the Kurdish leadership is where the bulk of Maliki’s dirty money has come from. It just makes sense. There isn’t the kind of money in the currency auction process for him to make the kind of money he has… THERE IS IN OIL THOUGH!!)

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Click this link to join the DU “private” FaceBook Group…

https://www.facebook.com/groups/571383766355188/

(go here and ask to join… then add some Dinar Friends!!)

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Post RV Checklist (it’s getting to be that time!! Listen up!!)

Dos and Don’ts of Windfall Wealth:

Treat it like a PowerBall win

– Tell no one, not even family. If you must talk, do so with one who is already in the know.

– Don’t run out & buy new “stuff”. People notice.

– Get an unpublished number and give it out very sparingly.

– Get a tax accountant you can trust to make sure the IRS is satisfied (Certified Opinion is something to look into) and pursue asset protection…

Read Complete List: http://www.dinarupdates.com/showthread.php?18519-The-Post-RV-Checklist-and-Flashback-documents&p=128477#post128477
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If you found this blog, our website or chats helpful – Forward it to a friend!! We couldn’t do it without you!!

Thanks – BGG!!

www.DinarUpdates.com

Iraqi parliament approves $88 billion 2018 budget

By Ahmed Aboulenein and Ahmed Rasheed

BAGHDAD, March 3 (Reuters) – Iraq’s parliament approved a budget on Saturday, lawmakers said, but Kurdish MPs boycotted the vote over their region’s allocation.

The budget of 104 trillion Iraqi dinars ($88 billion) is based on projected oil exports of 3.8 million barrels per day (bpd) at a price of $46.

It envisions government revenues of 91.64 trillion dinars ($77.6 billion) with a deficit of 12.5 trillion dinars ($10.58 billion), according to lawmakers.

The projected 3.8 million bpd exports include a 250,000 bpd contribution from Iraq’s semi-autonomous Kurdistan region.

“We boycotted the vote and there are proposals for Kurdistan to withdraw from the entire political process in Iraq over the unfair treatment we have received,” said Kurdish MP Ashwaq Jaff.

The budget trimmed the Kurdistan Regional Government’s share to 12.67 percent, down from the 17 percent the region has traditionally been entitled to since the fall of Saddam Hussein.

Oil exports, Iraq’s main source of revenue, have risen above 3.4 million barrels per day this year but a global slump in prices for crude, compounded by the costs of rebuilding an infrastructure damaged by the war against Islamic State, have battered the country’s finances.

Iraq received pledges of $30 billion, mostly in credit facilities and investment, this month from allies at a reconstruction conference in Kuwait, but this fell short of the $88 billion Baghdad says it needs to recover from three years of war.

$1 = 1,181.0000 Iraqi dinars Reporting by Ahmed Aboulenein and Ahmed Rasheed; Editing by Andrew Bolton

Article Credit: Reuters.com (Special Thanks to Vernell)
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The Wall Street Journal predicts Abadi will remain in office after the May elections

Baghdad today – “The Wall Street Journal” in a report published Friday, the survival of Prime Minister Haider Abadi in office after the next election, while indicated that the alliances after May, who will decide the form of the next government.

The pro-Iranian Shiite factions, inspired by Hezbollah, also act as political parties, and as with Hezbollah, their ability to exercise political power within Prime Minister Haider al-Abadi’s government and abroad is derived from their weapons, By the total votes they will receive in the May 12 elections. ”

“The multiplicity of political forces and the influence of Iran and the fragmentation of the Iraqi parliamentary system means that post-election bargaining will determine the course of the state rather than the elections itself.”

“Nothing fundamentally changes in the way Iraq is governed,” the paper quoted Haddad, an Iraqi political specialist at the National University of Singapore, as saying.

Haddad added: “The election is likely to result from another coalition government headed by Abadi”

“There is no coherent opposition that can easily outperform it,” Haddad said.

Article Credit: baghdadtoday.news (Special Thanks to Charles Bright)

BGG ~ I like the WSJ’s optimism… we all know how accurate they were on the last election they “predicted”.  I’m hoping on this one, they are more accurate.

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Interpol in Baghdad to receive arrest warrants against 37 personalities including ministers and senior officials

Information / Special … Revealed security expert and political analyst Ahmed al-Abyad, Wednesday, the creation of a list of wanted names up to 37 personalities, including candidates for the upcoming elections will be handed over to the delegation of Interpol located in Baghdad.

“The Iraqi government has prepared a list of 37 individuals required for the Iraqi judiciary issued arrest warrants for the theft of public money in large amounts.”

He added that “among these figures ministers and former officials and sons of officials and candidates for the upcoming elections fled days ago,” noting that “the arrival of the delegation of Interpol to Baghdad came to receive those notes and arrest and return them to Iraq.”

He explained that “the arrival of Interpol to Iraq to receive arrest warrants is a precedent did not happen previously and usually go to governments to hand over the memos,” referring to the “seriousness of those moves to arrest the corrupt.”

He said that “Interpol intends to hand over passport passports to those figures and circulate them to the countries of the world to arrest them.”

The Secretary-General of INTERPOL International Jürgen Stok told the Prime Minister Haider Abadi, on Tuesday, that the Iraqis sacrificed their blood in defense of world security, and it is our duty to stand with them.

Article Credit: almaalomah.com (Special Thanks to Tim Tarkington)
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BGG Q & A

Q: I was wondering how much longer can Iraq keep jerking the international investors around before the international investors just throw their hand up in the air to walk away from Iraq. Just asking.

A: They already have. Davos?? Kuwait?? Ring any bells?? The clock is ticking.

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Central Bank of Iraq Auctions $196,868,397 on 01 March 2018

Baghdad (IraqiNews.com) The Central Bank of Iraq (CBI) currency auction on March 1 registered $196,868,397 in sales, a 6.95% volume increase from the US $184,067,625 sold by Iraqi Dinar, credit and transfer at the previous auction held on February 28.

The latest auction was attended by 45 banks and 9 remittance companies. The same institutions attended the auction held on March 1 compared to the previous auction.

Data for the March 1 auction was made public by CBI Announcement Number 3646.

Dollar sales in the in the period January 1, 2018 to March 1, 2018 saw an increase of -1% compared to the sales of US $6.25 billion in the same period in 2017. The total amount of US currency sold by CBI in the calendar year 2017 was US $15.7 billion.

An analysis of the monthly dollar sales by CBI since January 2016 reveals highly fluctuating volumes. During the period from January 2016 to February 2018, sales of US dollars averaged US $1.89 billion per month. Peak volumes were reached in May this year when sales touched US $2.3 billion.

Article Credit: http://www.dinarupdates.com/forumdisplay.php?5-Current-Iraq-NEWS

BGG ~ I will continue to highlight the regular auctions. After recently asking around about the reasons for the “tightening” of the supply of Dinar in the U.S… one of the main reasons I got was the fewer and fewer auctions. Wait – what?!? They are still having fairly robust auctions.

So, obviously, that’s not true… so what is it?

Another possibility is this MASSIVE financial embargo on Kurdistan, provided this was where currency was coming from.

I have also heard of a couple of major players talking about having money in – or being able to get money out of Kurdistan… all baloney. Kurdistan has been under very tight controls since snubbing the world diplomats with this sham vote pushed by Barzani.

Why was it a sham vote? Simple fact: you can’t just take what isn’t yours to take just because you vote on it.

Back to my previous rebuttal – anyone who actually had money in Kurdistan would have either gotten it out or is REALLY “up a creek”… likely just more B.S.

So…

1) Fewer auctions?

2) Tightening borders (fewer exports)?

3) More demand? I sincerely doubt it.

4) IMHO and most likely, the supply here in the U.S. from disgruntled sellers, which is likely where the bulk of the U.S. supply really comes from, and current interested buyers has finally reached a point of parity where the “supply – demand” scales are more evenly balanced.

Hence, the price goes up (Currently selling between $1100-$1200 per million)

______________________________________________________________

Foreign investment in Iraq.. What we accept and what we do not accept

Iraqis are looking to build the economy after an investment environment, which may be more encouraging than before, to attract foreign investments. The level of security risk, which is one of the obstacles preventing investors from coming to Iraq , And the government has the responsibility to ensure the removal of the rest of the obstacles, foremost of which is administrative corruption .

First, we would like to clarify that investments in the extractive sector are outside the framework of the present article discussion, since the conditions for acceptance or non-acceptance of foreign investments do not fully apply to them.

And the conditions that separate the investments accepted and unacceptable, in fact many, but there are important conditions should be paid to them for acceptance and rejection, especially those core which have been neglected and passed these investments will cause serious damage to the Iraqi economy may appear on it immediately.

The foreign investments are acceptable and clear without the inference and detail that the foreign investments acceptable and preferred are those investments that achieve at least four conditions; the first to employ a larger number of Iraqi labor, and the second to exploit the local physical inputs, and that the size of local inputs greater than those imported, And the third requirement to re-invest the largest proportion of its profits in the national economy, and the fourth to contribute to bring foreign currency to the Iraqi market as in tourism projects Unacceptable foreign investments In terms of unwanted foreign investments, there is a fundamental condition that must be observed even if it fails to meet the other conditions (of course not environmental or social damage … etc.).

This essential condition is that these investments are not dependent upon the importation of most or all of their operational inputs with the availability of local inputs, and then transfer their profits abroad through the demand of the dollar in the local market for foreign currencies. The exchange rate of the dollar.

This is usually the case if those investments are directed to the service sector. As an example of the violation of this essential condition is whether foreign investments are directed to the establishment of malls, for example, from which there is limited interest at first in the construction of an Iraqi labor, but then no locally produced goods contribute to the growth of the national economy. Which are imported, sold to the local consumer, and then turned the profits earned abroad by buying the dollar from the parallel market, causing pressure that could lead to a rise in the dollar exchange rate in the domestic market if the demand is large on the dollar by pumped investors Their money is in such a kind only Investments, usually a few pros and large damaging.

But if the government pledged to meet the needs of this kind of investment from the dollar at the official exchange rate, it would not be harmed by the situation of buying the dollar from the market, as this would drain Iraq’s foreign currency assets.

The reason is that investment in some types of services does not increase the contribution of material output to the GDP, which thus creates useful future connections and background to the economy and to the individual, and that all its connections and benefits are in and out. * Professor of Economics

Article Credit: alsabaah.iq (Special Thanks to Vernell)

1) This sounds like this is about foreign investment NOT relating to oil (IMHO):

…”we would like to clarify that investments in the extractive sector are outside the framework of the present article discussion”…

2) We (The U.S.) should really consider this guideline here too!!

…”foreign investments acceptable and preferred are those investments that achieve at least four conditions; the first to employ a larger number of Iraqi labor, and the second to exploit the local physical inputs, and that the size of local inputs greater than those imported, And the third requirement to re-invest the largest proportion of its profits in the national economy, and the fourth to contribute to bring foreign currency (Scratch out the word currency and put in it’s place “money” – better translation) to the Iraqi market as in tourism projects”…

3) This part is relative to Iraq alone (due to being a developing economy):

…”This essential condition is that these investments are not dependent upon the importation of most or all of their operational inputs with the availability of local inputs, and then transfer their profits abroad through the demand of the dollar in the local market for foreign currencies.”…

4) This is a sub-title in the article >>>>>>>>>

“The exchange rate of the dollar.”

This excerpt bemoans large, private, institutional investment that invests, contributes little to the basic fiber of the local market and then buys up the USD so as to have an “exit vehicle” to extract their initial investment and profits from the region.

“… (I rearranged this slightly so it makes more sense) Their money is in such investments only – usually by a few (large) pros (which is) damaging (our money supply).”…

This next part is a little confusing but…

…”if the government pledged to meet the needs of this kind of investment from the dollar at the official exchange rate, it would not be harmed (THE INVESTMENT, that is… – think CONTEXT HERE) by the situation of buying the dollar from the market, (I scratched the word “as” and inserted – “BUT”) BUT this would drain Iraq’s foreign currency assets.”…

IN SUMMATION:

A) THIS PIECE CLEARLY ILLUSTRATES WHAT IRAQ NEEDS TO DO…

IRAQ NEEDS A LIBERALIZED, INTERNATIONALLY TRADABLE, RECOGNIZED CURRENCY. ASAP!! FOREIGN INVESTMENT WON’T PUT UP WITH THIS BEING TOLD WHAT AND WHAT NOT TO DO…

DAVOS, KUWAIT AND THE RECENT COOL APPROACH OF BIG INVESTMENT SHOULD BE A DEAD-GIVEAWAY.

B) THEY ALSO APPEAR BE POINTING TO A FINITE SUPPLY DINAR & USD.

ARTICLES LIKE THIS HIGHLIGHT IRAQ’S KEEN INTEREST IN MINIMIZING SHOCKS TO THEIR CURRENCY RESERVES AND THEIR EXCHANGE RATE. THEY ARE SENSITIVE TO THIS SUBJECT.

ALL OF THE ABOVE CHANGES ONCE THEY GIVE FOREIGN INVESTMENT A CLEAR WAY IN AND WAY OUT – VIA AN INTERNATIONALLY TRADABLE , RECOGNIZED CURRENCY.

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Kaperoni (Dinar Guru) –  …Banks don’t want to lose money.  They want to know what the spread is from day to day.  They want to know how much it’s going up and how much it’s going down and so on…this has always been an issue since I’ve been in this investment.  The Central Bank had to reduce the spread…Shabibi actually did a wonderful job.  He lowered the spread within the conditions set forth in their article IV consultations.  He got it down to 1200 or so on the street and held it there for 10 months.  In September of 2012 he announced he was going to begin currency reform so we assumed he was going to Article VIII at that point.  Then of course PM Maliki at the time said No, we’re not ready.  We don’t want this to occur…When Shabibi was out of the country for a conference Maliki put out a warrant for his arrest.  Which in essence kept him out of the country and stopped the process in it’s tracks.

Read more: http://www.dinarupdates.com/observer/
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Kaperoni (Dinar Guru) –  …IMF:   “Although performance under the Stand-By Arrangement has been weak in some key areas, understandings on sufficient corrective actions have been reached to keep the program on track. Against this background, Directors encouraged resolute implementation of the authorities’ program including continued efforts toward fiscal consolidation, strengthening the financial sector, and implementing structural reforms to promote private sector activity and improve the business environment.”   Very key…That is about as stern as I have ever seen from the IMF.   I just think were in a good place finally. With the help of the UST and IMF it looks like they got a plan to reduce the spread.  And with at 1220 now we are only 7 dinars away from 2%.  So by end of week maybe.  Can they hold it? Well I think there is to much riding on it to not to.

Read more: http://www.dinarupdates.com/observer/
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Kurdish official: Baghdad committees completed the audit of salaries of the region by 96%

(Baghdad: Al-Furat News) The spokesman of the Ministry of Health in the Kurdistan region, Khalis Qader, on Friday, cutting committees sent by the federal government to the region a significant step in resolving the outstanding issues between the parties.

Qader said in a press statement that “the competent committees of the federal government, which works to audit the salaries of employees of the Kurdistan region, has so far completed more than 96% of the instructions entrusted to it.”

He added that “the committees raised more than two positive reports, to the federal government, to pay the salaries of employees of the Kurdistan region, and the basis of the staff of health and education.”

“According to the reports of the committees, it told the federal government, the matching checks with the existing explanations,” adding that “but there is no response by the federal government to the reports of its committees to the territory.”

The spokesman of the Ministry of Health in the Kurdistan region, revealed on February 5 that ”
“We are waiting for the decision to pay salaries for the month of January this year, by the head of the federal government, Haider Abadi.”

He hinted that the health of Kurdistan demanded that the federal government to pay the salaries of its employees for the month of December 2017, and be spent within the decision on salaries last January, “adding,” But we do not know if the December dues or not. ”

Article Credit: alforatnews.com (Special Thanks to Charles Bright)

BGG ~ My first reaction is…

They had to do an AUDIT Because the CROOKED Kurdish leadership was asking for salary money for 50,000 employees that didn’t exist!! It’s no wonder Baghdad kicked them in the 8@!!$$ with 12.5% of the budget thing…

Also, this title is a little misleading, the real version is more like – they have finished (reportedly) 96% of the audit. Meaning: they are NEARLY done (with the AUDIT). Not actually done.

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Kaperoni (Dinar Guru) –   From the IMF last Sept…  “25. The government will gradually remove remaining exchange restrictions and a multiple currency practice (MCP) with a view to eliminating exchange rate distortions.Such a move towards acceptance of the obligations under Article VIII of the IMF’s Articles of Agreement will send a positive signal to the investor community that Iraq is committed to maintain an exchange system that is free of MCPs and restrictions for current international transactions and thus facilitate creation of a favorable business climate.”   So it’s coming.  That should perpetuate a new exchange rate regime as well causing the dinar to rise.  …I believe once it starts, it won’t take more than a year to rise to a value we are comfortable with.

Read more: http://www.dinarupdates.com/observer/
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Enorrste (Dinar Guru) –   …Once the ball starts rolling it will proceed quickly to a value that we can all enjoy.  The simple fact is that there are now a vast majority of factors in our favor versus the few left that seem to be holding this back.  ISIS is decimated in Iraq; the banking structure is becoming more internationally connected; interest in investing has risen even if actual investment has not yet begun; the CBI has finally tackled the problem with the spread (this is really key); the CBI is officially on the record now for some time to move toward a floating currency; talk of ending the auctions has risen to the point that it will become a reality soon; the IMF is trustee over the CBI and is on record to move Iraq into the real world; etc.  I will be surprised if we don’t see the float begin sometime this year.

Read more: http://www.dinarupdates.com/observer/
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Abadi is looking with the head of Interpol to recover the smuggled money .. This is the substance of the agreement

Baghdad / Sky Press – Prime Minister Haider al-Abadi on Tuesday discussed with Interpol Secretary-General Jürgen Stok the Iraqi efforts to recover smuggled money and recover fugitive criminals.

“During the meeting, which was held in Baghdad, an exchange of experiences and capacity-building was discussed with the crimes of informatics, social networking, money laundering and terrorism,” a statement issued by Al-Abbadi’s office said.

He added that “Jürgen Stok price of the Iraqi forces victories on terrorism, stressing that Iraq has become an active member and integrated in the construction and activation of the system of notification and warning and the construction of a global biometric system and the use of industrial intelligence applications and databases to detect the crimes of fraud and suggling.

“We have now stood with Iraq to preserve its security and the security of the world,” he said.

Article Credit: www.skypressiq.net (Special Thanks to Paul Moseley)
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Some interesting headlines…

The parliamentary pledge to approve the budget by a tripartite meeting and a repeat scenario

Baghdad agrees to raise the proportion of Kurdistan from the budget and Erbil is waiting

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The Iraqi parliament approves the article on the Kurdistan region … and the Kurdish deputies boycotted the session

The Iraqi Council of Representatives (parliament) on Thursday, the article on the Kurdistan region in the general budget of the country for the current year, despite the boycott of the Kurdish deputies for the meeting because of the inclusion of their demands within the budget.

Baghdad – Sputnik . Article 9 of the Kurdistan Region stipulates that the share of the Territory shall be determined from the total actual expenditure according to the “population” of each governorate and paid by the Federal Ministry of Finance with the approval of the Prime Minister.

A source told the agency “Sputnik”, said the Iraqi Council of Representatives acknowledged the absence of Kurdish MPs article on the Kurdistan region in the budget, noting that the Council raised its meeting to Saturday, because of the imbalance of the quorum after the adoption of 12 articles out of 48 (total budget items) .

The revenues of the general budget are estimated at (91643667236) dinars, ie about 77 billion dollars. The expected revenues from the export of crude oil were calculated on the basis of the rate of 46 dollars per barrel at an export rate of three million eight hundred and eighty-eight thousand barrels per day, including 250 thousand barrels Daily from the Kurdistan region.

The expenditure allocations amount to JD (104,158,183734) dinars (88 billion dollars), while the total planned budget deficit (125,145,168,498,000) dinars (11 billion dollars).

Today saw the province of the deputies of the Kurdish blocs, in protest to reduce the share of the Kurdistan region from 17 percent to 12.6 percent and vote on the paragraphs of the Kurdistan region.

The situation was exacerbated between Baghdad and Erbil after the referendum held by the Kurdistan region on 25 September 2017. The referendum commission in the region announced the participation of 72.16 in the voting process, of which 92.73% agreed on the separation and the formation of an independent state. Baghdad refused to recognize the referendum and its results.

On October 16, the federal forces began the process of imposing security and law in the disputed areas, and resulted in the restoration of government installations and oil in the province of Kirkuk and the restoration of several other disputed areas of Peshmerga forces before heading later to regain control of the border crossings between Kurdistan, Syria and Turkey.

Article Credit: arabic.sputniknews.com (Special Thanks to Charles Bright)

BGG ~ Wait – how could the Kurds be corrupt? They just admitted (with a straight face) to having an extra 50,000 employees on the list of employees to be paid by Baghdad… but that Baghdad should make good on it’s agreement to pay the salaries. Remember them pushing, pushing, pushing… here’s why. I mean, what could go wrong with having them in charge of oil numbers?? Right?!?

(P.S. just a guess, the Kurdish leadership is where the bulk of Maliki’s dirty money has come from. It just makes sense. There isn’t the kind of money in the currency auction process for him to make the kind of money he has… THERE IS IN OIL THOUGH!!)

______________________________________________________________

Click this link to join the DU “private” FaceBook Group…

https://www.facebook.com/groups/571383766355188/

(go here and ask to join… then add some Dinar Friends!!)

______________________________________________________________

Post RV Checklist (it’s getting to be that time!! Listen up!!)

Dos and Don’ts of Windfall Wealth:

Treat it like a PowerBall win

– Tell no one, not even family. If you must talk, do so with one who is already in the know.

– Don’t run out & buy new “stuff”. People notice.

– Get an unpublished number and give it out very sparingly.

– Get a tax accountant you can trust to make sure the IRS is satisfied (Certified Opinion is something to look into) and pursue asset protection…

Read Complete List: http://www.dinarupdates.com/showthread.php?18519-The-Post-RV-Checklist-and-Flashback-documents&p=128477#post128477
______________________________________________________________

If you found this blog, our website or chats helpful – Forward it to a friend!! We couldn’t do it without you!!

Thanks – BGG!!

www.DinarUpdates.com

Kurdish official: Baghdad committees completed the audit of salaries of the region by 96%

(Baghdad: Al-Furat News) The spokesman of the Ministry of Health in the Kurdistan region, Khalis Qader, on Friday, cutting committees sent by the federal government to the region a significant step in resolving the outstanding issues between the parties.

Qader said in a press statement that “the competent committees of the federal government, which works to audit the salaries of employees of the Kurdistan region, has so far completed more than 96% of the instructions entrusted to it.”

He added that “the committees raised more than two positive reports, to the federal government, to pay the salaries of employees of the Kurdistan region, and the basis of the staff of health and education.”

“According to the reports of the committees, it told the federal government, the matching checks with the existing explanations,” adding that “but there is no response by the federal government to the reports of its committees to the territory.”

The spokesman of the Ministry of Health in the Kurdistan region, revealed on February 5 that ”
“We are waiting for the decision to pay salaries for the month of January this year, by the head of the federal government, Haider Abadi.”

He hinted that the health of Kurdistan demanded that the federal government to pay the salaries of its employees for the month of December 2017, and be spent within the decision on salaries last January, “adding,” But we do not know if the December dues or not. ”

Article Credit: alforatnews.com (Special Thanks to Charles Bright)

BGG ~ My first reaction is…

They had to do an AUDIT Because the CROOKED Kurdish leadership was asking for salary money for 50,000 employees that didn’t exist!! It’s no wonder Baghdad kicked them in the 8@!!$$ with 12.5% of the budget thing…

Also, this title is a little misleading, the real version is more like – they have finished (reportedly) 96% of the audit. Meaning: they are NEARLY done (with the AUDIT). Not actually done.

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Iraqi presidencies meet and discuss the federal budget

Twilight News – The meeting of the three presidencies began on Thursday evening to discuss the issue of the adoption of the Federal Budget Law 2018.

The meeting of the Presidents of the Republic Fuad Masum, the Federal Council of Ministers Haider Abadi and the House of Representatives, Salim Jubouri, after the start of the House of Representatives, today, Federal Budget Law.

The Iraqi parliament voted today on 12 articles in the federal budget, boycotting Kurdish deputies.

Promised the Kurdish blocs, the House of Representatives to vote on the articles of the draft federal budget law “in application of the policy of marginalization.”

The reduction of the share of the Kurdistan Region of Iraq in the budget of 2018, a broad rejection of Kurdish political forces, where the government reduced Abbadi, last November, the share of the province in the budget this year from 17 to 12.6 percent.

The revenues of the general budget are estimated at (91643667236) thousand dinars (ninety nine trillion six hundred and forty-three billion six hundred and sixty seven million and two hundred and thirty-six thousand dinars). The estimated revenues from the export of crude oil were calculated on the basis of the rate of 46 dollars per barrel at an export rate of 3 million Eight hundred and eighty-eight thousand barrels per day, including 250 thousand barrels per day from the Kurdistan Region.

The allocations of expenditures amount to (104158183734) thousand dinars (one hundred and four trillion and one hundred and fifty-five billion one hundred and eighty-three million and seven and thirty-four thousand dinars), while the total deficit planned budget (12514516498) thousand dinars (twelve trillion five hundred and fourteen billion five hundred and six Ten million and four hundred and ninety-eight thousand dinars)

Article Credit: shafaaq.com (Special Thanks to Charles Bright)

BGG ~ Well, the good news is – they met. They talked. They actually tried to get the vote done in the afternoon. Reportedly, they passed a “provisional budget” – or parts of it. Not exactly sure what it all means just yet. We’ll see. However, I have said all along – this budget will get done, it just won’t be the single harbinger some people are looking for.

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The stability of the dollar exchange rate against the Iraqi dinar

(Independent) … The prices of the dollar exchange rate stabilized on the Stock Exchange and local markets on Tuesday (February 27, 2018).

Kifah Stock Exchange – Baghdad 122,000 dinars, the same price for Monday.

Selling and buying prices in banking shops:

Selling price of the dollar = 122,500 dinars.

The price of buying the dollar = 121.500 dinars.

Article Credit: mustaqila.com

BGG ~ This was from yesterday… I haven’t seen anything further on the OR/MR parity yet today (it’s what I’ll be watching close for a few days).

It’s is basically saying that after a few days of gains – the value of the Dinar has stabilized for now.

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Central Bank of Iraq Auctions $184,067,625 on 28 February 2018

Baghdad (IraqiNews.com) The Central Bank of Iraq (CBI) currency auction on February 28 registered $184,067,625 in sales, a -3.08% volume decline from the US $189,921,893 sold by Iraqi Dinar, credit and transfer at the previous auction held on February 27.

The latest auction was attended by 45 banks and 9 remittance companies. The same institutions attended the auction held on February 28 compared to the previous auction.

Data for the February 28 auction was made public by CBI Announcement Number 3645.

Dollar sales in the in the period January 1, 2018 to February 28, 2018 saw an increase of -1% compared to the sales of US $6.1 billion in the same period in 2017. The total amount of US currency sold by CBI in the calendar year 2017 was US $15.7 billion.

An analysis of the monthly dollar sales by CBI since January 2016 reveals highly fluctuating volumes. During the period from January 2016 to February 2018, sales of US dollars averaged US $1.89 billion per month. Peak volumes were reached in May this year when sales touched US $2.3 billion.

Article Credit: http://www.dinarupdates.com/forumdisplay.php?5-Current-Iraq-NEWS

BGG ~ I will continue to highlight the regular auctions. After recently asking around about the reasons for the “tightening” of the supply of Dinar in the U.S… one of the main reasons I got was the fewer and fewer auctions. Wait – what?!? They are still having fairly robust auctions.

So, obviously, that’s not true… so what is it?

Another possibility is this MASSIVE financial embargo on Kurdistan, provided this was where currency was coming from.

I have also heard of a couple of major players talking about having money in – or being able to get money out of Kurdistan… all baloney. Kurdistan has been under very tight controls since snubbing the world diplomats with this sham vote pushed by Barzani.

Why was it a sham vote? Simple fact: you can’t just take what isn’t yours to take just because you vote on it.

Back to my previous rebuttal – anyone who actually had money in Kurdistan would have either gotten it out or is REALLY “up a creek”… likely just more B.S.

So…

1) Fewer auctions?

2) Tightening borders (fewer exports)?

3) More demand? I sincerely doubt it.

4) IMHO and most likely, the supply here in the U.S. from disgruntled sellers, which is likely where the bulk of the U.S. supply really comes from, and current interested buyers has finally reached a point of parity where the “supply – demand” scales are more evenly balanced.

Hence, the price goes up (Currently selling between $1100-$1200 per million)

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Nusseiri: The implementation of the strategy of the Central Bank contributed to the improvement of the dinar exchange rate against the dollar

Economy News _ Baghdad – The economic and banking adviser to the Association of Iraqi Private Banks Samir Nusairi, said that the central bank and the banking sector played a key role in overcoming the economic and financial crisis, and support the state treasury and methods and procedures and new instruments in the applications of monetary policy.

Al-Nusairi said in an interview with “Economy News” that “the Central Bank has worked mainly on combating money laundering and financing of terrorism, strict adherence to international regulations, rules and standards, re-evaluation and classification of banks in light of their compliance with compliance regulations and determining the last beneficiary in the window of sale of foreign currency and work mechanisms New in the proactive control internally and externally led to higher value and purchasing power of the Iraqi dinar against the dollar exchange rate, “noting that” the most prominent reasons for the recovery of the Iraqi dinar is the plan and procedures of the Central Bank and cooperation with the banking sector and the commitment to Died and standards issued by the Central Bank. ”

“The Iraqi banking sector is the first major link in the economic circles of Iraq and occupies a fundamental and important aspect as the financial and investment sector, which is the main part of the financing and management of economies.”…

Read Full Text: http://www.dinarupdates.com/showthread.php?56381-The-implementation-of-the-strategy-of-the-CBI-contributed-to-the-Dinar-improvement

(Special Thanks to Vernell)
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Kaperoni (Dinar Guru) –  …Banks don’t want to lose money.  They want to know what the spread is from day to day.  They want to know how much it’s going up and how much it’s going down and so on…this has always been an issue since I’ve been in this investment.  The Central Bank had to reduce the spread…Shabibi actually did a wonderful job.  He lowered the spread within the conditions set forth in their article IV consultations.  He got it down to 1200 or so on the street and held it there for 10 months.  In September of 2012 he announced he was going to begin currency reform so we assumed he was going to Article VIII at that point.  Then of course PM Maliki at the time said No, we’re not ready.  We don’t want this to occur…When Shabibi was out of the country for a conference Maliki put out a warrant for his arrest.  Which in essence kept him out of the country and stopped the process in it’s tracks.

Read more: http://www.dinarupdates.com/observer/
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Kaperoni (Dinar Guru) –  …IMF:   “Although performance under the Stand-By Arrangement has been weak in some key areas, understandings on sufficient corrective actions have been reached to keep the program on track. Against this background, Directors encouraged resolute implementation of the authorities’ program including continued efforts toward fiscal consolidation, strengthening the financial sector, and implementing structural reforms to promote private sector activity and improve the business environment.”   Very key…That is about as stern as I have ever seen from the IMF.   I just think were in a good place finally. With the help of the UST and IMF it looks like they got a plan to reduce the spread.  And with at 1220 now we are only 7 dinars away from 2%.  So by end of week maybe.  Can they hold it? Well I think there is to much riding on it to not to.

Read more: http://www.dinarupdates.com/observer/
______________________________________________________________

BGG Q & A:

Q: What is this 90 day 2 % everyone talking about has it started and does it mean we have to have 2 % for 90 days before a rv ?

A: If I recall correctly, the “IMF 2% rule” refers to the spread between the Official rate and Market rate of the currency on any given day.

The rule is, basically – they must maintain this 2% (or less) gap for at least 90 days prior to accepting IMF Article 8 general obligations (as a member country) and concurrently from then on. Now – would the IMF allow them some latitude on the 90 day entry point? Possibly.

However, the real issue everyone is stewing over is this…

Does this recent closing of the gap between the “Official rate” and “Market rate” forecast some coming change or is it much ado about nothing?

There are articles regularly touting the tightening of this gap… or the “Strengthening of the Dinar against the Dollar” or some other various titles along those same lines. Ask yourself why? Because they know what it means.

Whichever side of the fence you are on here, this tightening of the OR/MR gap is the single most visible, interesting and encouraging “data point” we’ve seen in a very, very long time.

Personally, as I have said many times, I don’t care if it is a fixed rate, a managed rate, a dirty float, a naked float or some weird combination. I DON’T CARE!!

My confidence in the future of Iraq is such that, I believe whichever it goes – in a reasonably short period of time, the value will wind up in the same place any way.

The key for me? Just get STARTED!!

Q: Doesn’t this mean it won’t move more than 2% after its revalued? What’s everyone’s concern? It’s that it can move from where it is no more than 2% which means nobody gets rich over night. It doesn’t even start until after they are an internationally traded currency. Much concern about nothing!!

A: That’s not at all what it means…

1) this refers the spread between the official rate and the market rate… NOT a 2% difference between today’s official rate and tomorrow’s official rate.

Further – the 2% rule doesn’t care if the rate is .10 per Dinar or $10 per Dinar… or if it fluctuates across that whole range for 90 days (just an illustration – not possible). What matters is if the “Official rate” of ‘X’ and the “Market rate” (which is the number it is sold at, publicly) have a reflective DIFFERENCE of 2% or less.

2) Internationally trading and value should (or could) happen at the same time.

(Stay tuned for more…)
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Kaperoni (Dinar Guru) –   From the IMF last Sept…  “25. The government will gradually remove remaining exchange restrictions and a multiple currency practice (MCP) with a view to eliminating exchange rate distortions.Such a move towards acceptance of the obligations under Article VIII of the IMF’s Articles of Agreement will send a positive signal to the investor community that Iraq is committed to maintain an exchange system that is free of MCPs and restrictions for current international transactions and thus facilitate creation of a favorable business climate.”   So it’s coming.  That should perpetuate a new exchange rate regime as well causing the dinar to rise.  …I believe once it starts, it won’t take more than a year to rise to a value we are comfortable with.

Read more: http://www.dinarupdates.com/observer/
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Enorrste (Dinar Guru) –   …Once the ball starts rolling it will proceed quickly to a value that we can all enjoy.  The simple fact is that there are now a vast majority of factors in our favor versus the few left that seem to be holding this back.  ISIS is decimated in Iraq; the banking structure is becoming more internationally connected; interest in investing has risen even if actual investment has not yet begun; the CBI has finally tackled the problem with the spread (this is really key); the CBI is officially on the record now for some time to move toward a floating currency; talk of ending the auctions has risen to the point that it will become a reality soon; the IMF is trustee over the CBI and is on record to move Iraq into the real world; etc.  I will be surprised if we don’t see the float begin sometime this year.

Read more: http://www.dinarupdates.com/observer/
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Stability of the dollar in Iraq, but the lowest for weeks

[BAGHDAD] Foreign currency markets in Baghdad on Tuesday morning stabilized at the dollar’s exchange rate against the Iraqi dinar but are still at their lowest level in weeks.

The market price in the Kifah Stock Exchange in Baghdad was 1220 dinars per dollar, or 122 thousand dinars for one hundred dollars.

The prices of selling and buying dollars in banking companies were:

The selling price of one dollar 12250 dinars, or 122 thousand and 500 dinars, for one hundred dollars and the purchase price of the dollar is 1215 dinars, or 121 thousand and 500 dinars, for one hundred dollars.

Foreign Exchange Rates:
EUR World Price: 100 Euro = 123.21 USD The
World Price: 100 Bounds = 139.55
Turkish Lira. World Price: $ 100 = 378.45 Turkish Lira.

Article Credit: alliraqnews.com (Special Thanks to Vernell)

BGG ~ Oh wow!! Another move down!!

…”the 2% rule is calculated off the Official Rate plus CBI commissions (1182 + 8 dinar commissions X .02 = 23.8) which puts it at 1213 to $1″…

only 7 more Dinars to go…

P.S. Them getting into compliance with IMF guidelines may or may not be a big deal. However, if it is, then a 3 Dinar move in one day – leaving only 7 Dinars to go, is a GIGANTIC DEAL.

______________________________________________________________

Some interesting headlines…

The parliamentary pledge to approve the budget by a tripartite meeting and a repeat scenario

Baghdad agrees to raise the proportion of Kurdistan from the budget and Erbil is waiting

______________________________________________________________

Today, the dollar is falling against the Iraqi dinar

(Independent) .. The prices of the dollar exchange rate resumed the decline with the beginning of this week on the stock market and local markets on Saturday (24 February 2018).

Kifah Stock Exchange – Baghdad 122.250 dinars, while prices for Thursday 122,500 dinars.

Selling and buying prices in banking shops:

Selling price of the dollar = 122.750 dinars.

The price of buying the dollar = 121.750 dinars

Article Credit: mustaqila.com (Special Thanks to both Charles and Tim)
______________________________________________________________

Click this link to join the DU “private” FaceBook Group…

https://www.facebook.com/groups/571383766355188/

(go here and ask to join… then add some Dinar Friends!!)

______________________________________________________________

Post RV Checklist (it’s getting to be that time!! Listen up!!)

Dos and Don’ts of Windfall Wealth:

Treat it like a PowerBall win

– Tell no one, not even family. If you must talk, do so with one who is already in the know.

– Don’t run out & buy new “stuff”. People notice.

– Get an unpublished number and give it out very sparingly.

– Get a tax accountant you can trust to make sure the IRS is satisfied (Certified Opinion is something to look into) and pursue asset protection…

Read Complete List: http://www.dinarupdates.com/showthread.php?18519-The-Post-RV-Checklist-and-Flashback-documents&p=128477#post128477
______________________________________________________________

If you found this blog, our website or chats helpful – Forward it to a friend!! We couldn’t do it without you!!

Thanks – BGG!!

www.DinarUpdates.com

The three presidencies meet tomorrow to resolve the budget dispute

(Baghdad: Al-Furat News) The three presidencies will hold, Thursday, an important meeting to resolve the dispute over the draft budget law for the year 2018.

A parliamentary source told the {Euphrates News} a copy of it that “the meeting will discuss the resolution of controversial issues, especially with regard to the budget of the Kurdistan region.”
“The meeting was held before the parliamentary session scheduled for tomorrow at 1 pm.”

He added that “the parliamentary finance committee reached final consensus in most of the demands of the blocks in the budget, except for the introduction of representatives of the Kurdish component.”

He drew the source to “insert the draft budget law on the agenda of the session of the parliament scheduled Saturday if the three presidencies resolved the dispute on it.”

It was scheduled to hold the House of Representatives, its regular on Wednesday, but the continuation of the dispute over the draft bill of the budget of 2018 caused the withdrawal of the law from the agenda and postpone the meeting to Thursday. End

Read More: alforatnews.com (Special Thanks to Tim Tarkington)
______________________________________________________________

Jubouri calls on all members of parliament to attend tomorrow’s session to vote on the budget

Baghdad: Speaker of the House of Representatives Salim al-Jubouri, on Wednesday, all members of the Council to attend the meeting on Thursday for the purpose of voting on the federal budget.

Jubouri said in a statement to his office received the agency {Euphrates News} a copy of it today that “delaying the adoption of the budget will cause a significant obstruction in the work of state institutions, especially in the current financial and economic situation, and will cause the growing market stagnation and slow trade, as well as political problems that Will result from this delay. ”

He stressed that “we all aspire to achieve more achievements and work to consolidate permanent stability through the preparation of economic and development conditions, and the need to look seriously and realistically to the conditions of citizens and work to improve the living conditions and service them, and the general budget is the most positive factors to achieve it.”

He called on the Speaker of the House of Representatives all members of the Council to “attend the session Thursday to vote on the budget and not to repeat the mistakes of the past.” is over

Article Credit: alforatnews.com

BGG ~ So – as near as I can tell, it looks like they intend to have a meeting of the 3 Presidencies, hammer out some final details and then get Parliament together right afterward to vote on it the same afternoon.

There is obviously some sense of urgency on their part. What is driving this surge? I do not know. It sounds like a long shot to me – but I’ll be glad if they pull it off.

______________________________________________________________

______________________________________________________________

The stability of the dollar exchange rate against the Iraqi dinar

(Independent) … The prices of the dollar exchange rate stabilized on the Stock Exchange and local markets on Tuesday (February 27, 2018).

Kifah Stock Exchange – Baghdad 122,000 dinars, the same price for Monday.

Selling and buying prices in banking shops:

Selling price of the dollar = 122,500 dinars.

The price of buying the dollar = 121.500 dinars.

Article Credit: mustaqila.com

BGG ~ This was from yesterday… I haven’t seen anything further on the OR/MR parity yet today (it’s what I’ll be watching close for a few days).

It’s is basically saying that after a few days of gains – the value of the Dinar has stabilized for now.

______________________________________________________________

Central Bank of Iraq Auctions $184,067,625 on 28 February 2018

Baghdad (IraqiNews.com) The Central Bank of Iraq (CBI) currency auction on February 28 registered $184,067,625 in sales, a -3.08% volume decline from the US $189,921,893 sold by Iraqi Dinar, credit and transfer at the previous auction held on February 27.

The latest auction was attended by 45 banks and 9 remittance companies. The same institutions attended the auction held on February 28 compared to the previous auction.

Data for the February 28 auction was made public by CBI Announcement Number 3645.

Dollar sales in the in the period January 1, 2018 to February 28, 2018 saw an increase of -1% compared to the sales of US $6.1 billion in the same period in 2017. The total amount of US currency sold by CBI in the calendar year 2017 was US $15.7 billion.

An analysis of the monthly dollar sales by CBI since January 2016 reveals highly fluctuating volumes. During the period from January 2016 to February 2018, sales of US dollars averaged US $1.89 billion per month. Peak volumes were reached in May this year when sales touched US $2.3 billion.

Article Credit: http://www.dinarupdates.com/forumdisplay.php?5-Current-Iraq-NEWS

BGG ~ I will continue to highlight the regular auctions. After recently asking around about the reasons for the “tightening” of the supply of Dinar in the U.S… one of the main reasons I got was the fewer and fewer auctions. Wait – what?!? They are still having fairly robust auctions.

So, obviously, that’s not true… so what is it?

Another possibility is this MASSIVE financial embargo on Kurdistan, provided this was where currency was coming from.

I have also heard of a couple of major players talking about having money in – or being able to get money out of Kurdistan… all baloney. Kurdistan has been under very tight controls since snubbing the world diplomats with this sham vote pushed by Barzani.

Why was it a sham vote? Simple fact: you can’t just take what isn’t yours to take just because you vote on it.

Back to my previous rebuttal – anyone who actually had money in Kurdistan would have either gotten it out or is REALLY “up a creek”… likely just more B.S.

So…

1) Fewer auctions?

2) Tightening borders (fewer exports)?

3) More demand? I sincerely doubt it.

4) IMHO and most likely, the supply here in the U.S. from disgruntled sellers, which is likely where the bulk of the U.S. supply really comes from, and current interested buyers has finally reached a point of parity where the “supply – demand” scales are more evenly balanced.

Hence, the price goes up (Currently selling between $1100-$1200 per million)

______________________________________________________________

Nusseiri: The implementation of the strategy of the Central Bank contributed to the improvement of the dinar exchange rate against the dollar

Economy News _ Baghdad – The economic and banking adviser to the Association of Iraqi Private Banks Samir Nusairi, said that the central bank and the banking sector played a key role in overcoming the economic and financial crisis, and support the state treasury and methods and procedures and new instruments in the applications of monetary policy.

Al-Nusairi said in an interview with “Economy News” that “the Central Bank has worked mainly on combating money laundering and financing of terrorism, strict adherence to international regulations, rules and standards, re-evaluation and classification of banks in light of their compliance with compliance regulations and determining the last beneficiary in the window of sale of foreign currency and work mechanisms New in the proactive control internally and externally led to higher value and purchasing power of the Iraqi dinar against the dollar exchange rate, “noting that” the most prominent reasons for the recovery of the Iraqi dinar is the plan and procedures of the Central Bank and cooperation with the banking sector and the commitment to Died and standards issued by the Central Bank. ”

“The Iraqi banking sector is the first major link in the economic circles of Iraq and occupies a fundamental and important aspect as the financial and investment sector, which is the main part of the financing and management of economies.”…

Read Full Text: http://www.dinarupdates.com/showthread.php?56381-The-implementation-of-the-strategy-of-the-CBI-contributed-to-the-Dinar-improvement

(Special Thanks to Vernell)
______________________________________________________________

Kaperoni (Dinar Guru) –  …Banks don’t want to lose money.  They want to know what the spread is from day to day.  They want to know how much it’s going up and how much it’s going down and so on…this has always been an issue since I’ve been in this investment.  The Central Bank had to reduce the spread…Shabibi actually did a wonderful job.  He lowered the spread within the conditions set forth in their article IV consultations.  He got it down to 1200 or so on the street and held it there for 10 months.  In September of 2012 he announced he was going to begin currency reform so we assumed he was going to Article VIII at that point.  Then of course PM Maliki at the time said No, we’re not ready.  We don’t want this to occur…When Shabibi was out of the country for a conference Maliki put out a warrant for his arrest.  Which in essence kept him out of the country and stopped the process in it’s tracks.

Read more: http://www.dinarupdates.com/observer/
______________________________________________________________

Kaperoni (Dinar Guru) –  …IMF:   “Although performance under the Stand-By Arrangement has been weak in some key areas, understandings on sufficient corrective actions have been reached to keep the program on track. Against this background, Directors encouraged resolute implementation of the authorities’ program including continued efforts toward fiscal consolidation, strengthening the financial sector, and implementing structural reforms to promote private sector activity and improve the business environment.”   Very key…That is about as stern as I have ever seen from the IMF.   I just think were in a good place finally. With the help of the UST and IMF it looks like they got a plan to reduce the spread.  And with at 1220 now we are only 7 dinars away from 2%.  So by end of week maybe.  Can they hold it? Well I think there is to much riding on it to not to.

Read more: http://www.dinarupdates.com/observer/
______________________________________________________________

BGG Q & A:

Q: What is this 90 day 2 % everyone talking about has it started and does it mean we have to have 2 % for 90 days before a rv ?

A: If I recall correctly, the “IMF 2% rule” refers to the spread between the Official rate and Market rate of the currency on any given day.

The rule is, basically – they must maintain this 2% (or less) gap for at least 90 days prior to accepting IMF Article 8 general obligations (as a member country) and concurrently from then on. Now – would the IMF allow them some latitude on the 90 day entry point? Possibly.

However, the real issue everyone is stewing over is this…

Does this recent closing of the gap between the “Official rate” and “Market rate” forecast some coming change or is it much ado about nothing?

There are articles regularly touting the tightening of this gap… or the “Strengthening of the Dinar against the Dollar” or some other various titles along those same lines. Ask yourself why? Because they know what it means.

Whichever side of the fence you are on here, this tightening of the OR/MR gap is the single most visible, interesting and encouraging “data point” we’ve seen in a very, very long time.

Personally, as I have said many times, I don’t care if it is a fixed rate, a managed rate, a dirty float, a naked float or some weird combination. I DON’T CARE!!

My confidence in the future of Iraq is such that, I believe whichever it goes – in a reasonably short period of time, the value will wind up in the same place any way.

The key for me? Just get STARTED!!

Q: Doesn’t this mean it won’t move more than 2% after its revalued? What’s everyone’s concern? It’s that it can move from where it is no more than 2% which means nobody gets rich over night. It doesn’t even start until after they are an internationally traded currency. Much concern about nothing!!

A: That’s not at all what it means…

1) this refers the spread between the official rate and the market rate… NOT a 2% difference between today’s official rate and tomorrow’s official rate.

Further – the 2% rule doesn’t care if the rate is .10 per Dinar or $10 per Dinar… or if it fluctuates across that whole range for 90 days (just an illustration – not possible). What matters is if the “Official rate” of ‘X’ and the “Market rate” (which is the number it is sold at, publicly) have a reflective DIFFERENCE of 2% or less.

2) Internationally trading and value should (or could) happen at the same time.

(Stay tuned for more…)
______________________________________________________________

Kaperoni (Dinar Guru) –   From the IMF last Sept…  “25. The government will gradually remove remaining exchange restrictions and a multiple currency practice (MCP) with a view to eliminating exchange rate distortions.Such a move towards acceptance of the obligations under Article VIII of the IMF’s Articles of Agreement will send a positive signal to the investor community that Iraq is committed to maintain an exchange system that is free of MCPs and restrictions for current international transactions and thus facilitate creation of a favorable business climate.”   So it’s coming.  That should perpetuate a new exchange rate regime as well causing the dinar to rise.  …I believe once it starts, it won’t take more than a year to rise to a value we are comfortable with.

Read more: http://www.dinarupdates.com/observer/
______________________________________________________________

Enorrste (Dinar Guru) –   …Once the ball starts rolling it will proceed quickly to a value that we can all enjoy.  The simple fact is that there are now a vast majority of factors in our favor versus the few left that seem to be holding this back.  ISIS is decimated in Iraq; the banking structure is becoming more internationally connected; interest in investing has risen even if actual investment has not yet begun; the CBI has finally tackled the problem with the spread (this is really key); the CBI is officially on the record now for some time to move toward a floating currency; talk of ending the auctions has risen to the point that it will become a reality soon; the IMF is trustee over the CBI and is on record to move Iraq into the real world; etc.  I will be surprised if we don’t see the float begin sometime this year.

Read more: http://www.dinarupdates.com/observer/
______________________________________________________________

Stability of the dollar in Iraq, but the lowest for weeks

[BAGHDAD] Foreign currency markets in Baghdad on Tuesday morning stabilized at the dollar’s exchange rate against the Iraqi dinar but are still at their lowest level in weeks.

The market price in the Kifah Stock Exchange in Baghdad was 1220 dinars per dollar, or 122 thousand dinars for one hundred dollars.

The prices of selling and buying dollars in banking companies were:

The selling price of one dollar 12250 dinars, or 122 thousand and 500 dinars, for one hundred dollars and the purchase price of the dollar is 1215 dinars, or 121 thousand and 500 dinars, for one hundred dollars.

Foreign Exchange Rates:
EUR World Price: 100 Euro = 123.21 USD The
World Price: 100 Bounds = 139.55
Turkish Lira. World Price: $ 100 = 378.45 Turkish Lira.

Article Credit: alliraqnews.com (Special Thanks to Vernell)

BGG ~ Oh wow!! Another move down!!

…”the 2% rule is calculated off the Official Rate plus CBI commissions (1182 + 8 dinar commissions X .02 = 23.8) which puts it at 1213 to $1″…

only 7 more Dinars to go…

P.S. Them getting into compliance with IMF guidelines may or may not be a big deal. However, if it is, then a 3 Dinar move in one day – leaving only 7 Dinars to go, is a GIGANTIC DEAL.

______________________________________________________________

Some interesting headlines…

The parliamentary pledge to approve the budget by a tripartite meeting and a repeat scenario

Baghdad agrees to raise the proportion of Kurdistan from the budget and Erbil is waiting

______________________________________________________________

Today, the dollar is falling against the Iraqi dinar

(Independent) .. The prices of the dollar exchange rate resumed the decline with the beginning of this week on the stock market and local markets on Saturday (24 February 2018).

Kifah Stock Exchange – Baghdad 122.250 dinars, while prices for Thursday 122,500 dinars.

Selling and buying prices in banking shops:

Selling price of the dollar = 122.750 dinars.

The price of buying the dollar = 121.750 dinars

Article Credit: mustaqila.com (Special Thanks to both Charles and Tim)
______________________________________________________________

Click this link to join the DU “private” FaceBook Group…

https://www.facebook.com/groups/571383766355188/

(go here and ask to join… then add some Dinar Friends!!)

______________________________________________________________

Post RV Checklist (it’s getting to be that time!! Listen up!!)

Dos and Don’ts of Windfall Wealth:

Treat it like a PowerBall win

– Tell no one, not even family. If you must talk, do so with one who is already in the know.

– Don’t run out & buy new “stuff”. People notice.

– Get an unpublished number and give it out very sparingly.

– Get a tax accountant you can trust to make sure the IRS is satisfied (Certified Opinion is something to look into) and pursue asset protection…

Read Complete List: http://www.dinarupdates.com/showthread.php?18519-The-Post-RV-Checklist-and-Flashback-documents&p=128477#post128477
______________________________________________________________

If you found this blog, our website or chats helpful – Forward it to a friend!! We couldn’t do it without you!!

Thanks – BGG!!

www.DinarUpdates.com

The three presidencies meet tomorrow to resolve the budget dispute

(Baghdad: Al-Furat News) The three presidencies will hold, Thursday, an important meeting to resolve the dispute over the draft budget law for the year 2018.

A parliamentary source told the {Euphrates News} a copy of it that “the meeting will discuss the resolution of controversial issues, especially with regard to the budget of the Kurdistan region.”
“The meeting was held before the parliamentary session scheduled for tomorrow at 1 pm.”

He added that “the parliamentary finance committee reached final consensus in most of the demands of the blocks in the budget, except for the introduction of representatives of the Kurdish component.”

He drew the source to “insert the draft budget law on the agenda of the session of the parliament scheduled Saturday if the three presidencies resolved the dispute on it.”

It was scheduled to hold the House of Representatives, its regular on Wednesday, but the continuation of the dispute over the draft bill of the budget of 2018 caused the withdrawal of the law from the agenda and postpone the meeting to Thursday. End

Read More: alforatnews.com (Special Thanks to Tim Tarkington)
______________________________________________________________

Jubouri calls on all members of parliament to attend tomorrow’s session to vote on the budget

Baghdad: Speaker of the House of Representatives Salim al-Jubouri, on Wednesday, all members of the Council to attend the meeting on Thursday for the purpose of voting on the federal budget.

Jubouri said in a statement to his office received the agency {Euphrates News} a copy of it today that “delaying the adoption of the budget will cause a significant obstruction in the work of state institutions, especially in the current financial and economic situation, and will cause the growing market stagnation and slow trade, as well as political problems that Will result from this delay. ”

He stressed that “we all aspire to achieve more achievements and work to consolidate permanent stability through the preparation of economic and development conditions, and the need to look seriously and realistically to the conditions of citizens and work to improve the living conditions and service them, and the general budget is the most positive factors to achieve it.”

He called on the Speaker of the House of Representatives all members of the Council to “attend the session Thursday to vote on the budget and not to repeat the mistakes of the past.” is over

Article Credit: alforatnews.com

BGG ~ So – as near as I can tell, it looks like they intend to have a meeting of the 3 Presidencies, hammer out some final details and then get Parliament together right afterward to vote on it the same afternoon.

There is obviously some sense of urgency on their part. What is driving this surge? I do not know. It sounds like a long shot to me – but I’ll be glad if they pull it off.

______________________________________________________________

______________________________________________________________

The stability of the dollar exchange rate against the Iraqi dinar

(Independent) … The prices of the dollar exchange rate stabilized on the Stock Exchange and local markets on Tuesday (February 27, 2018).

Kifah Stock Exchange – Baghdad 122,000 dinars, the same price for Monday.

Selling and buying prices in banking shops:

Selling price of the dollar = 122,500 dinars.

The price of buying the dollar = 121.500 dinars.

Article Credit: mustaqila.com

BGG ~ This was from yesterday… I haven’t seen anything further on the OR/MR parity yet today (it’s what I’ll be watching close for a few days).

It’s is basically saying that after a few days of gains – the value of the Dinar has stabilized for now.

______________________________________________________________

Central Bank of Iraq Auctions $184,067,625 on 28 February 2018

Baghdad (IraqiNews.com) The Central Bank of Iraq (CBI) currency auction on February 28 registered $184,067,625 in sales, a -3.08% volume decline from the US $189,921,893 sold by Iraqi Dinar, credit and transfer at the previous auction held on February 27.

The latest auction was attended by 45 banks and 9 remittance companies. The same institutions attended the auction held on February 28 compared to the previous auction.

Data for the February 28 auction was made public by CBI Announcement Number 3645.

Dollar sales in the in the period January 1, 2018 to February 28, 2018 saw an increase of -1% compared to the sales of US $6.1 billion in the same period in 2017. The total amount of US currency sold by CBI in the calendar year 2017 was US $15.7 billion.

An analysis of the monthly dollar sales by CBI since January 2016 reveals highly fluctuating volumes. During the period from January 2016 to February 2018, sales of US dollars averaged US $1.89 billion per month. Peak volumes were reached in May this year when sales touched US $2.3 billion.

Article Credit: http://www.dinarupdates.com/forumdisplay.php?5-Current-Iraq-NEWS

BGG ~ I will continue to highlight the regular auctions. After recently asking around about the reasons for the “tightening” of the supply of Dinar in the U.S… one of the main reasons I got was the fewer and fewer auctions. Wait – what?!? They are still having fairly robust auctions.

So, obviously, that’s not true… so what is it?

Another possibility is this MASSIVE financial embargo on Kurdistan, provided this was where currency was coming from.

I have also heard of a couple of major players talking about having money in – or being able to get money out of Kurdistan… all baloney. Kurdistan has been under very tight controls since snubbing the world diplomats with this sham vote pushed by Barzani.

Why was it a sham vote? Simple fact: you can’t just take what isn’t yours to take just because you vote on it.

Back to my previous rebuttal – anyone who actually had money in Kurdistan would have either gotten it out or is REALLY “up a creek”… likely just more B.S.

So…

1) Fewer auctions?

2) Tightening borders (fewer exports)?

3) More demand? I sincerely doubt it.

4) IMHO and most likely, the supply here in the U.S. from disgruntled sellers, which is likely where the bulk of the U.S. supply really comes from, and current interested buyers has finally reached a point of parity where the “supply – demand” scales are more evenly balanced.

Hence, the price goes up (Currently selling between $1100-$1200 per million)

______________________________________________________________

Nusseiri: The implementation of the strategy of the Central Bank contributed to the improvement of the dinar exchange rate against the dollar

Economy News _ Baghdad – The economic and banking adviser to the Association of Iraqi Private Banks Samir Nusairi, said that the central bank and the banking sector played a key role in overcoming the economic and financial crisis, and support the state treasury and methods and procedures and new instruments in the applications of monetary policy.

Al-Nusairi said in an interview with “Economy News” that “the Central Bank has worked mainly on combating money laundering and financing of terrorism, strict adherence to international regulations, rules and standards, re-evaluation and classification of banks in light of their compliance with compliance regulations and determining the last beneficiary in the window of sale of foreign currency and work mechanisms New in the proactive control internally and externally led to higher value and purchasing power of the Iraqi dinar against the dollar exchange rate, “noting that” the most prominent reasons for the recovery of the Iraqi dinar is the plan and procedures of the Central Bank and cooperation with the banking sector and the commitment to Died and standards issued by the Central Bank. ”

“The Iraqi banking sector is the first major link in the economic circles of Iraq and occupies a fundamental and important aspect as the financial and investment sector, which is the main part of the financing and management of economies.”…

Read Full Text: http://www.dinarupdates.com/showthread.php?56381-The-implementation-of-the-strategy-of-the-CBI-contributed-to-the-Dinar-improvement

(Special Thanks to Vernell)
______________________________________________________________

Kaperoni (Dinar Guru) –  …Banks don’t want to lose money.  They want to know what the spread is from day to day.  They want to know how much it’s going up and how much it’s going down and so on…this has always been an issue since I’ve been in this investment.  The Central Bank had to reduce the spread…Shabibi actually did a wonderful job.  He lowered the spread within the conditions set forth in their article IV consultations.  He got it down to 1200 or so on the street and held it there for 10 months.  In September of 2012 he announced he was going to begin currency reform so we assumed he was going to Article VIII at that point.  Then of course PM Maliki at the time said No, we’re not ready.  We don’t want this to occur…When Shabibi was out of the country for a conference Maliki put out a warrant for his arrest.  Which in essence kept him out of the country and stopped the process in it’s tracks.

Read more: http://www.dinarupdates.com/observer/
______________________________________________________________

Kaperoni (Dinar Guru) –  …IMF:   “Although performance under the Stand-By Arrangement has been weak in some key areas, understandings on sufficient corrective actions have been reached to keep the program on track. Against this background, Directors encouraged resolute implementation of the authorities’ program including continued efforts toward fiscal consolidation, strengthening the financial sector, and implementing structural reforms to promote private sector activity and improve the business environment.”   Very key…That is about as stern as I have ever seen from the IMF.   I just think were in a good place finally. With the help of the UST and IMF it looks like they got a plan to reduce the spread.  And with at 1220 now we are only 7 dinars away from 2%.  So by end of week maybe.  Can they hold it? Well I think there is to much riding on it to not to.

Read more: http://www.dinarupdates.com/observer/
______________________________________________________________

BGG Q & A:

Q: What is this 90 day 2 % everyone talking about has it started and does it mean we have to have 2 % for 90 days before a rv ?

A: If I recall correctly, the “IMF 2% rule” refers to the spread between the Official rate and Market rate of the currency on any given day.

The rule is, basically – they must maintain this 2% (or less) gap for at least 90 days prior to accepting IMF Article 8 general obligations (as a member country) and concurrently from then on. Now – would the IMF allow them some latitude on the 90 day entry point? Possibly.

However, the real issue everyone is stewing over is this…

Does this recent closing of the gap between the “Official rate” and “Market rate” forecast some coming change or is it much ado about nothing?

There are articles regularly touting the tightening of this gap… or the “Strengthening of the Dinar against the Dollar” or some other various titles along those same lines. Ask yourself why? Because they know what it means.

Whichever side of the fence you are on here, this tightening of the OR/MR gap is the single most visible, interesting and encouraging “data point” we’ve seen in a very, very long time.

Personally, as I have said many times, I don’t care if it is a fixed rate, a managed rate, a dirty float, a naked float or some weird combination. I DON’T CARE!!

My confidence in the future of Iraq is such that, I believe whichever it goes – in a reasonably short period of time, the value will wind up in the same place any way.

The key for me? Just get STARTED!!

Q: Doesn’t this mean it won’t move more than 2% after its revalued? What’s everyone’s concern? It’s that it can move from where it is no more than 2% which means nobody gets rich over night. It doesn’t even start until after they are an internationally traded currency. Much concern about nothing!!

A: That’s not at all what it means…

1) this refers the spread between the official rate and the market rate… NOT a 2% difference between today’s official rate and tomorrow’s official rate.

Further – the 2% rule doesn’t care if the rate is .10 per Dinar or $10 per Dinar… or if it fluctuates across that whole range for 90 days (just an illustration – not possible). What matters is if the “Official rate” of ‘X’ and the “Market rate” (which is the number it is sold at, publicly) have a reflective DIFFERENCE of 2% or less.

2) Internationally trading and value should (or could) happen at the same time.

(Stay tuned for more…)
______________________________________________________________

Kaperoni (Dinar Guru) –   From the IMF last Sept…  “25. The government will gradually remove remaining exchange restrictions and a multiple currency practice (MCP) with a view to eliminating exchange rate distortions.Such a move towards acceptance of the obligations under Article VIII of the IMF’s Articles of Agreement will send a positive signal to the investor community that Iraq is committed to maintain an exchange system that is free of MCPs and restrictions for current international transactions and thus facilitate creation of a favorable business climate.”   So it’s coming.  That should perpetuate a new exchange rate regime as well causing the dinar to rise.  …I believe once it starts, it won’t take more than a year to rise to a value we are comfortable with.

Read more: http://www.dinarupdates.com/observer/
______________________________________________________________

Enorrste (Dinar Guru) –   …Once the ball starts rolling it will proceed quickly to a value that we can all enjoy.  The simple fact is that there are now a vast majority of factors in our favor versus the few left that seem to be holding this back.  ISIS is decimated in Iraq; the banking structure is becoming more internationally connected; interest in investing has risen even if actual investment has not yet begun; the CBI has finally tackled the problem with the spread (this is really key); the CBI is officially on the record now for some time to move toward a floating currency; talk of ending the auctions has risen to the point that it will become a reality soon; the IMF is trustee over the CBI and is on record to move Iraq into the real world; etc.  I will be surprised if we don’t see the float begin sometime this year.

Read more: http://www.dinarupdates.com/observer/
______________________________________________________________

Stability of the dollar in Iraq, but the lowest for weeks

[BAGHDAD] Foreign currency markets in Baghdad on Tuesday morning stabilized at the dollar’s exchange rate against the Iraqi dinar but are still at their lowest level in weeks.

The market price in the Kifah Stock Exchange in Baghdad was 1220 dinars per dollar, or 122 thousand dinars for one hundred dollars.

The prices of selling and buying dollars in banking companies were:

The selling price of one dollar 12250 dinars, or 122 thousand and 500 dinars, for one hundred dollars and the purchase price of the dollar is 1215 dinars, or 121 thousand and 500 dinars, for one hundred dollars.

Foreign Exchange Rates:
EUR World Price: 100 Euro = 123.21 USD The
World Price: 100 Bounds = 139.55
Turkish Lira. World Price: $ 100 = 378.45 Turkish Lira.

Article Credit: alliraqnews.com (Special Thanks to Vernell)

BGG ~ Oh wow!! Another move down!!

…”the 2% rule is calculated off the Official Rate plus CBI commissions (1182 + 8 dinar commissions X .02 = 23.8) which puts it at 1213 to $1″…

only 7 more Dinars to go…

P.S. Them getting into compliance with IMF guidelines may or may not be a big deal. However, if it is, then a 3 Dinar move in one day – leaving only 7 Dinars to go, is a GIGANTIC DEAL.

______________________________________________________________

Some interesting headlines…

The parliamentary pledge to approve the budget by a tripartite meeting and a repeat scenario

Baghdad agrees to raise the proportion of Kurdistan from the budget and Erbil is waiting

______________________________________________________________

Today, the dollar is falling against the Iraqi dinar

(Independent) .. The prices of the dollar exchange rate resumed the decline with the beginning of this week on the stock market and local markets on Saturday (24 February 2018).

Kifah Stock Exchange – Baghdad 122.250 dinars, while prices for Thursday 122,500 dinars.

Selling and buying prices in banking shops:

Selling price of the dollar = 122.750 dinars.

The price of buying the dollar = 121.750 dinars

Article Credit: mustaqila.com (Special Thanks to both Charles and Tim)
______________________________________________________________

Click this link to join the DU “private” FaceBook Group…

https://www.facebook.com/groups/571383766355188/

(go here and ask to join… then add some Dinar Friends!!)

______________________________________________________________

Post RV Checklist (it’s getting to be that time!! Listen up!!)

Dos and Don’ts of Windfall Wealth:

Treat it like a PowerBall win

– Tell no one, not even family. If you must talk, do so with one who is already in the know.

– Don’t run out & buy new “stuff”. People notice.

– Get an unpublished number and give it out very sparingly.

– Get a tax accountant you can trust to make sure the IRS is satisfied (Certified Opinion is something to look into) and pursue asset protection…

Read Complete List: http://www.dinarupdates.com/showthread.php?18519-The-Post-RV-Checklist-and-Flashback-documents&p=128477#post128477
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If you found this blog, our website or chats helpful – Forward it to a friend!! We couldn’t do it without you!!

Thanks – BGG!!

www.DinarUpdates.com

Nusseiri: The implementation of the strategy of the Central Bank contributed to the improvement of the dinar exchange rate against the dollar

Economy News _ Baghdad – The economic and banking adviser to the Association of Iraqi Private Banks Samir Nusairi, said that the central bank and the banking sector played a key role in overcoming the economic and financial crisis, and support the state treasury and methods and procedures and new instruments in the applications of monetary policy.

Al-Nusairi said in an interview with “Economy News” that “the Central Bank has worked mainly on combating money laundering and financing of terrorism, strict adherence to international regulations, rules and standards, re-evaluation and classification of banks in light of their compliance with compliance regulations and determining the last beneficiary in the window of sale of foreign currency and work mechanisms New in the proactive control internally and externally led to higher value and purchasing power of the Iraqi dinar against the dollar exchange rate, “noting that” the most prominent reasons for the recovery of the Iraqi dinar is the plan and procedures of the Central Bank and cooperation with the banking sector and the commitment to Died and standards issued by the Central Bank. ”

“The Iraqi banking sector is the first major link in the economic circles of Iraq and occupies a fundamental and important aspect as the financial and investment sector, which is the main part of the financing and management of economies.”…

Read Full Text: http://www.dinarupdates.com/showthread.php?56381-The-implementation-of-the-strategy-of-the-CBI-contributed-to-the-Dinar-improvement

(Special Thanks to Vernell)

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BGG Q & A:

Q: What is this 90 day 2 % everyone talking about has it started and does it mean we have to have 2 % for 90 days before a rv ?

A: If I recall correctly, the “IMF 2% rule” refers to the spread between the Official rate and Market rate of the currency on any given day.

The rule is, basically – they must maintain this 2% (or less) gap for at least 90 days prior to accepting IMF Article 8 general obligations (as a member country) and concurrently from then on. Now – would the IMF allow them some latitude on the 90 day entry point? Possibly.

However, the real issue everyone is stewing over is this…

Does this recent closing of the gap between the “Official rate” and “Market rate” forecast some coming change or is it much ado about nothing?

There are articles regularly touting the tightening of this gap… or the “Strengthening of the Dinar against the Dollar” or some other various titles along those same lines. Ask yourself why? Because they know what it means.

Whichever side of the fence you are on here, this tightening of the OR/MR gap is the single most visible, interesting and encouraging “data point” we’ve seen in a very, very long time.

Personally, as I have said many times, I don’t care if it is a fixed rate, a managed rate, a dirty float, a naked float or some weird combination. I DON’T CARE!!

My confidence in the future of Iraq is such that, I believe whichever it goes – in a reasonably short period of time, the value will wind up in the same place any way.

The key for me? Just get STARTED!!

Q: Doesn’t this mean it won’t move more than 2% after its revalued? What’s everyone’s concern? It’s that it can move from where it is no more than 2% which means nobody gets rich over night. It doesn’t even start until after they are an internationally traded currency. Much concern about nothing!!

A: That’s not at all what it means…

1) this refers the spread between the official rate and the market rate… NOT a 2% difference between today’s official rate and tomorrow’s official rate.

Further – the 2% rule doesn’t care if the rate is .10 per Dinar or $10 per Dinar… or if it fluctuates across that whole range for 90 days (just an illustration – not possible). What matters is if the “Official rate” of ‘X’ and the “Market rate” (which is the number it is sold at, publicly) have a reflective DIFFERENCE of 2% or less.

2) Internationally trading and value should (or could) happen at the same time.

(Stay tuned for more…)

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Abadi discusses with INTERPOL Secretary General the exchange of expertise on cyber crimes and money laundering

Prime Minister Haider al-Abadi received in his office Tuesday Interpol Secretary-General Jürgen Stok. During the meeting, they discussed the exchange of experiences and capacity-building with information crimes, social networking, money laundering and terrorism, and working with Iraq in its campaign to recover smuggled money and to retrieve fugitives.

He praised the leadership of Haydar al-Abadi for the country, pointing out that Iraq has become an active and integrated member in building and activating the system of warning and pre-warning, building a global biometric system and using artificial intelligence applications and databases to detect fraud and smuggling.

“The Iraqis have sacrificed their blood in defense of the security of the world, so we stand with Iraq now to preserve its security and the security of the world.
Read More: http://www.dinarupdates.com/showthread.php?56388-Abadi-discusses-with-INTERPOL-Secretary-General-the-exchange-of-expertise-on-cyber-cr

BGG ~ While they appear to be making headway on their “Official rate – Market rate” spread… it would do wonders for international investment if they would make some visible and public encroachments against their endemic corruption.

Their bloated OR/MR spread is just a symptom – it is not the problem. The problem is the corruption that feeds the disparity.

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Central Bank of Iraq Auctions $189,921,893 on 27 February 2018

Baghdad (IraqiNews.com) The Central Bank of Iraq (CBI) currency auction on February 27 registered $189,921,893 in sales, a -1.34% volume decline from the US $192,498,405 sold by Iraqi Dinar, credit and transfer at the previous auction held on February 26.

The latest auction was attended by 45 banks and 9 remittance companies. The same institutions attended the auction held on February 27 compared to the previous auction.

Data for the February 27 auction was made public by CBI Announcement Number 3644.

Dollar sales in the in the period January 1, 2018 to February 27, 2018 saw an increase of -1% compared to the sales of US $5.97 billion in the same period in 2017. The total amount of US currency sold by CBI in the calendar year 2017 was US $15.7 billion.

An analysis of the monthly dollar sales by CBI since January 2016 reveals highly fluctuating volumes. During the period from January 2016 to February 2018, sales of US dollars averaged US $1.88 billion per month. Peak volumes were reached in May this year when sales touched US $2.3 billion.

Article Credit: http://www.dinarupdates.com/forumdisplay.php?5-Current-Iraq-NEWS

BGG ~ I will continue to highlight the regular auctions. After recently asking around about the reasons for the “tightening” of the supply of Dinar in the U.S… one of the main reasons I got was the fewer and fewer auctions. Wait – what?!? They are still having fairly robust auctions.

So, obviously, that’s not true… so what is it?

Another possibility is this MASSIVE financial embargo on Kurdistan, provided this was where currency was coming from.

I have also heard of a couple of major players talking about having money in – or being able to get money out of Kurdistan… all baloney. Kurdistan has been under very tight controls since snubbing the world diplomats with this sham vote pushed by Barzani.

Why was it a sham vote? Simple fact: you can’t just take what isn’t yours to take just because you vote on it.

Back to my previous rebuttal – anyone who actually had money in Kurdistan would have either gotten it out or is REALLY “up a creek”… likely just more B.S.

So…

1) Fewer auctions?

2) Tightening borders (fewer exports)?

3) More demand? I sincerely doubt it.

4) IMHO and most likely, the supply here in the U.S. from disgruntled sellers, which is likely where the bulk of the U.S. supply really comes from, and current interested buyers has finally reached a point of parity where the “supply – demand” scales are more evenly balanced.

Hence, the price goes up.

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Stability of the dollar in Iraq, but the lowest for weeks

[BAGHDAD] Foreign currency markets in Baghdad on Tuesday morning stabilized at the dollar’s exchange rate against the Iraqi dinar but are still at their lowest level in weeks.

The market price in the Kifah Stock Exchange in Baghdad was 1220 dinars per dollar, or 122 thousand dinars for one hundred dollars.

The prices of selling and buying dollars in banking companies were:

The selling price of one dollar 12250 dinars, or 122 thousand and 500 dinars, for one hundred dollars and the purchase price of the dollar is 1215 dinars, or 121 thousand and 500 dinars, for one hundred dollars.

Foreign Exchange Rates:
EUR World Price: 100 Euro = 123.21 USD The
World Price: 100 Bounds = 139.55
Turkish Lira. World Price: $ 100 = 378.45 Turkish Lira.

Article Credit: alliraqnews.com (Special Thanks to Vernell)

BGG ~ Oh wow!! Another move down!!

…”the 2% rule is calculated off the Official Rate plus CBI commissions (1182 + 8 dinar commissions X .02 = 23.8) which puts it at 1213 to $1″…

only 7 more Dinars to go…

P.S. Them getting into compliance with IMF guidelines may or may not be a big deal. However, if it is, then a 3 Dinar move in one day – leaving only 7 Dinars to go, is a GIGANTIC DEAL.

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Enorrste (Dinar Guru) –   …Once the ball starts rolling it will proceed quickly to a value that we can all enjoy.  The simple fact is that there are now a vast majority of factors in our favor versus the few left that seem to be holding this back.  ISIS is decimated in Iraq; the banking structure is becoming more internationally connected; interest in investing has risen even if actual investment has not yet begun; the CBI has finally tackled the problem with the spread (this is really key); the CBI is officially on the record now for some time to move toward a floating currency; talk of ending the auctions has risen to the point that it will become a reality soon; the IMF is trustee over the CBI and is on record to move Iraq into the real world; etc.  I will be surprised if we don’t see the float begin sometime this year.

Read more: http://www.dinarupdates.com/observer/
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Kaperoni (Dinar Guru) –  Article:  “A new drop for the dollar today in Iraq”   Quote:   “The exchange rate of the US dollar against the Iraqi dinar continues to decline for the second month in a row.  The foreign exchange markets in Baghdad, on Monday morning, the decline in the dollar exchange rate against the Iraqi dinar. The market price in the Kifah Stock Exchange in Baghdad was 1220 dinars per dollar, or 122 thousand dinars for one hundred dollars.”  …All we can do is wait and see each day what they report for the auction.  1220 is close…let’s give it another week and see if they are in compliance.

Read more: http://www.dinarupdates.com/observer/
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Shabandar: I have documents condemning Nuri al-Maliki with 6 counts

The former leader of the Islamic Dawa Party, Ghalib Shabandar, said he had documents condemning the leader of a coalition of state law, former Prime Minister Nuri al-Maliki.

Shabandar said in a televised interview with documents condemning al-Maliki, indicating that the first document is the fall of a third of Iraq and the second document the spread of illiteracy and the third is the explosion of 17 car bombs a day at the time of the premiership and the fourth is the collapse of electricity.

He continued, contrary to the theory of the party has established facades of his brothers and relatives, stressing that this document is conclusive confirmation that Maliki is not partisan in the strict sense.

He added that the other document is that he wanted to limit the religious authority in Najaf through a reference abroad and unfortunately he is moving in this non-scientific way.

Article Credit: knoozmedia.com (Special Thanks to Tim Tarkington)

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Kaperoni (Dinar Guru) –   Article: “Alnasiri: Implementation of the Central Bank’s strategy contributed to the improvement of the dinar’s exchange rate against the dollar”  They had a few months with the UST and IMF to figure out a plan to reduce the spread.  It seems likely they are on track to compliance. We all know the investment won’t come if they do not get the market economy going.  Time is running out.

Read more: http://www.dinarupdates.com/observer/
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Chattels (Dinar Guru) –   It is encouraging to watch the improvement in the market rate of the dinar in Iraq. Arguably a singular transparent progress available to us.

Read more: http://www.dinarupdates.com/observer/
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Today, the dollar is falling against the Iraqi dinar

(Independent) .. The prices of the dollar exchange rate resumed the decline with the beginning of this week on the stock market and local markets on Saturday (24 February 2018).

Kifah Stock Exchange – Baghdad 122.250 dinars, while prices for Thursday 122,500 dinars.

Selling and buying prices in banking shops:

Selling price of the dollar = 122.750 dinars.

The price of buying the dollar = 121.750 dinars

Article Credit: mustaqila.com (Special Thanks to both Charles and Tim)
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Some interesting headlines…

The parliamentary pledge to approve the budget by a tripartite meeting and a repeat scenario

Baghdad agrees to raise the proportion of Kurdistan from the budget and Erbil is waiting

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Sudani: Iraq is moving towards a market economy

BAGHDAD / Al-Sabah: The Minister of Labor and Social Affairs Mohammed Shiaa al-Sudani said that Iraq, having achieved victory over terrorist gangs, is witnessing a qualitative shift in its policies towards a market economy.

“The government has embarked on a package of economic reforms to support the private sector and create an attractive environment for investment,” Al Sudani said during a speech at the Islamic Conference of Labor Ministers held in Jeddah, Saudi Arabia.

The Sudani, said «the Ministry of Labor and Social Affairs and its supporters began to pay attention to issues of poverty and unemployment through the enactment of new laws».

Article Credit: alsabaah.iq (Special Thanks to Tim Tarkington)
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Click this link to join the DU “private” FaceBook Group…

https://www.facebook.com/groups/571383766355188/

(go here and ask to join… then add some Dinar Friends!!)

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Post RV Checklist (it’s getting to be that time!! Listen up!!)

Dos and Don’ts of Windfall Wealth:

Treat it like a PowerBall win

– Tell no one, not even family. If you must talk, do so with one who is already in the know.

– Don’t run out & buy new “stuff”. People notice.

– Get an unpublished number and give it out very sparingly.

– Get a tax accountant you can trust to make sure the IRS is satisfied (Certified Opinion is something to look into) and pursue asset protection…

Read Complete List: http://www.dinarupdates.com/showthread.php?18519-The-Post-RV-Checklist-and-Flashback-documents&p=128477#post128477
______________________________________________________________

If you found this blog, our website or chats helpful – Forward it to a friend!! We couldn’t do it without you!!

Thanks – BGG!!

www.DinarUpdates.com