DINAR OBSERVER DAILY July 18th

Welcome to the Dinar Observer – Daily. For regular Dinar Updates, to see what the Dinar Gurus have to say, Dinar to USD listings, IQD and for Iraqi Dinar info – THAT MATTERS!! This is a good place to start for your Daily Dinar Recap – whether you are a Dinar vet or just looking for a little current Dinar info – Welcome.

Word for the day…

Mrs. BGG

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CURRENCY CODE SELL BUY
US dollar USD 1182.000 1180.000
Euro EUR 1315.330 1314.672
British pound GBP 1580.570 1579.780
Canadian dollar CAD 910.983 910.527
Swiss franc CHF 1207.478 1206.874
Swedish krona SEK 139.146 139.076
Norwegian krone NOK 141.156 141.086
Danish krone DKK 176.851 176.762
Japanese yen JPY 11.188 11.182
Special
Drawing Rights
SDR 1647.613 1646.790

http://www.cbi.iq/

Indicative rates – 07.18.2015

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Small minded people believe you are rejecting morality when you reject their visions of morality. – Will Spencer

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*** Current News ***

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Frank26 (Dinar Guru) –   [At first I was a little excited about “give me Mosul” and then things move quickly. Now its forget Mosul cos we’re not looking for that anymore. Yes, we have made great strides this year with their accomplishments but i can’t help but stop getting excited when i see you excited.]  For me to say we no longer need the liberalization of Mosul because we have it And upgrade it with we NOW seek the removal of the Program Rate…Leaves You depressed … Is confusing to my comprehension of an amazing progress.  One final thing …My Excitement is Serious.
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Aggiedad77 (Dinar Guru) –     Article:  “Distribution of financial grants to displaced families in Babylon”   I’m surmising here that the “instrument” for distribution of these funds to the families is likely some kind of card…electronic card…for protection of all involved…another positive sign of good things already in the works…patience…the BEST is yet to come.
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wmawhite (Dinar Guru) –   …Maliki still leads a political bloc, all though a minor bloc. Think of a political bloc as an union. A political union within the Iraqi Parliament. If you understand this, it is very understandable that the head of a bloc/union will always be negotiating with other political blocs as well as their leaders.  This is life…it is the way their political life runs from day to day.
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Aggiedad77 (Dinar Guru) –   Article:  “Water Resources: join the marshes World Heritage upstream countries will be required to secure its share of water”  [Being included on this list assures UN protection of Iraq’s water supply from neighboring countries upstream … no one can threaten them using the water as a weapon without having to face UN intervention … a sense of security IMO.]  I so agree with your comment…this is an extraordinary move on Iraq’s part…not only to preserve its marshlands but also something that …will become very near and dear to Iraq and all of the Middle East…water…an important commodity in a desert land of vast magnitude…this will pay dividends to the Iraqi’s in the future…IMO…why is this important…it shows that Iraq is looking ahead to what they hope to be a bright future for them and they want to be that “oasis” that brings people together…IMO.
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mike (Dinar Guru) –   Article:  “Urgent calls Jubouri blocs to nominate names for the formation of a committee to amend constitution”   Great, another committee formed to tackle what? The constitution of Iraq. I was hoping Iraq would deal with the immediate issues instead of tackling such a huge task. These guys can’t agree on the small stuff, how in the world do they think they’re going to achieve quorum on something as big as the constitution? 
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Dinar Updates “The After Call” – LIVE!!

“Immediately following News Time!!”
7/18 – LIVE CALL w/Q&A!!

from 7/13 – Smart phone user link – Click here

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rcookie (Dinar Guru) –   PARLIAMENT TODAY…VOTED IN PRESENCE OF 236 DEPUTIES…SALE & LEASE OF STATE PROPERTY LAW NO. 21 (2013)  AS WELL AS PLANNING FOR COMMITTEE TO AMEND CONSTITUTION…1ST READING ON 5 BILLS AS WELL AS DISCUSSION TO LIFT IMMUNITY FOR 9 MP’S…17 TOTAL MP’S BUT 8 HAVE RETIRED AND NO LONGER HAVE IMMUNITY…LEGAL AFFAIRS COMMITTEE WILL DECIDE WITHIN 2 WEEKS…AS WELL AS PURSUIT TO DISMISS MP’S WHO HAVE EXCEEDED ABSENTEE THRESHOLD…ABSOLUTELY HUGE LEGISLATIVE DAY…AND SETTING UP WHAT LOOKS TO BE HUGE LEGISLATIVE WEEK AND SESSION TERM…
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wmawhite (Dinar Guru) –   [What would they need to safeguard and protect if they were just going to stay at 1166. Or not enter the global economy?  1166 is there current safeguard.]  Very good point…one of the current safeguards is the lack of value.  Banks outside of Iraq is no upside to accept (exchanging and holding) the IQD because of its value. In other words, they do not see it as an asset to hold. So, as…you ask, what is there to safeguard?    unless…?
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rcookie (Dinar Guru) –   Article:  “Jabouri to calls for the nomination of the names of the committee to amend the constitution within one week”  THIS IS HUGE…THE TABLE IS SET AND GROUNDWORK LAID FOR THE COMMITTEE TO OVERSEE CHANGES TO IRAQI CONSTITUTION THAT ARE ON TABLE AND CUED UP…  CONSTITUTIONAL AMENDMENT AND REVIEW COMMITTEE NAMED TODAY…THEY HAVE SET THE TABLE FOR THE PARLIAMENT TO GET DONE WHAT THEY NEED TO…70 PLUS LAWS ON TABLE…INCLUDING ONES THAT INVOLVE CONSTITUTIONAL AMENDMENT…
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Iraqi Dinar/Dollar auction (most recent listing) 07-17-16

Currency Auctions Announcement No. 3240

This daily currency auction was held in the Central Bank of Iraq on the 07-17-2016

The results were as follows:

DETAILS NOTES
Number of banks 27
Number of remittance companies 16
Auction price selling dinar / US$ 1182
Auction price buying dinar / US$ —–
Amount sold at auction price (US$) 134,652,143
Amount purchased at Auction price (US$) —–
Total offers for buying (US$) 134,652,143
Total offers for selling (US$) —–

More: http://dinarupdates.com/blog/
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Mountainman (Dinar Guru) –   REMEMBER Sept 2,2016 is The NEW DIGITAL PLATFORM for NEW VALUESOCT 1, 2016 is the NEW FISCAL YEAR and MANY Countries will and have been in the FINAL PUSH to Make Necessary Deals in ORDER to Settle DEBTS in the CURRENT FIAT SYSTEM…Don’t FORGET (OIL) will Be SETTLING SDR ACCOUNTS in OCTOBER as Well…
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Backdoc (Dinar Guru) –   HOWEVER, THE IMF DIDN’T SAY THAT THEY WOULD SHOW US THE RATE THEN.  IN MY OPINION, THIS TRANSITION BETWEEN THE TWO REALITIES NEEDS TO HAPPEN IN ORDER TO SEE A RATE.  BE ENCOURAGED THAT THE ANNOUNCEMENT OF THIS IEX SYSTEM COULD BE MOVED UP AT ANY TIME!  THEREFORE, NOBODY CAN PICK A DATE.  MY CURRENT STUDY BEGINS ON SEPTEMBER 2ND (UNLESS THAT ANNOUNCEMENT CHANGES) AND ENDS IN MID OCTOBER FOR MANY REASONS!  ALL OF COURSE IS JUST MY OPINION AND NOT INTENDED TO OFFEND ANYONE ELSE’S OPINIONS.  [post 2 of 2]
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Backdoc (Dinar Guru) –   …CURRENTLY THE IEX WHICH IS WHERE ALL ASSET BACKED DIGITAL CURRENCIES WILL BE TRADED DOES NOT FORMALLY EXIST TO THE PUBLIC UNTIL SEPTEMBER 2ND!  IF IRAQ WERE TO LAUNCH A RATE AT THIS TIME, THE ONLY PLACE IT COULD SHOW IS ON THE CBI WEBSITE, NOT ON THE FOREX, BECAUSE IRAQ IS ASSET BACKED AND THE FOREX ISN’T!  HOW WOULD THE PUBLIC TRADE ITS CURRENCY GLOBALLY WHEN THE SYSTEM TO TRADE IT DOESN’T FORMALLY EVEN EXIST UNTIL SEPTEMBER 2ND?  REALIZE THAT THE IMF TOLD US THAT ALL WOULD BE DONE BY MID YEAR, RIGHT?  RIGHT!  IN MY OPINION, IRAQ DID GET THINGS DONE, OTHERWISE THE IMF WOULD NOT HAVE GIVEN THEM THE LOAN.  [post 1 of 2….stay tuned]
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(photo: Sabah Arar/REX/ Newscom)

Iraqi dinars are exchanged for dollars at the busy Shorga market in Baghdad, Iraq: a key
priority in the new program is maintaining the exchange rate peg to the U.S. dollar, says IMF  (photo: Sabah Arar/REX/Newscom)

Iraq Gets $5.34 Billion IMF Loan to Support Economic Stability

  • Iraqi economy faces double shock of lower oil prices, rising security challenges
  • IMF loan supports Iraqi government’s economic reform program, ensures debt sustainability
  • Program includes measures to protect the poor, curb corruption

The IMF has approved a three-year, $5.34 Billion loan for Iraq focused on implementing economic and financial policies to help the country cope with lower oil prices and ensure debt sustainability…

Read More: www.dinarupdates.com/blog/
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Islandg1211 (Dinar Guru) –   So, according to the LOI, the RV should be after the Investment Law is passed and before the end of the year.  I think it’s important that everyone understand that we should watch for the Investment Law, not worry about the GOI delaying this too much longer, and that YES, this RV is still being planned for before the end of the year.  Mosul as well is a go now that the agreement is made with Barzani. Abadi now is talking about Political reform being put off for now until after Mosul and after the RV.   [post 3 of 3]
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Islandg1211 (Dinar Guru) –   The LOI states that’s there’s a loophole clause within Iraq that if the oil price is different from the budgeted price, then the Budget can be cut without another vote. So, the IMF settled that one too. The Budget was cut…to 85%.  I just gave two examples of the IMF using this LOI to get around the GOI. Well done IMF. What a difference this year is to previous years. The IMF has a plan. So the RV will come AFTER the Investment Law but BEFORE the crackdown on proving why you need USDs. The LOI states that the CBI will only have weekly auctions and will require proof of why USD is needed “by the end of the year.”  [post 2 of 3….stay tuned]
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Islandg1211 (Dinar Guru) –   The June 2016 LOI with the IMF states that the CBI should stop the MCP and work towards Article VIII compliance and that they should first pass the Investment Law.  So, when will we see the RV (IMO) WE WILL NOT SEE THE RV BEFORE THE INVESTMENT LAW.  It’s plain as day in Article A 14 of the June IMF LOI.  Like me, you, and everybody, the IMF was concerned that the Monetary Reforms could get bottle necked in the GOI should politics decide to either hold it hostage or simple just stall. So, the IMF stated in the LOI that the COM could introduce the Investment Law OR the CBI could make new regulations that cover the same points. Don’t you love that word “OR”!!! Clever of the IMF. This will probably lead to the actual passing of the Investment within the GOI since they know they can’t delay or stop it.   [post 1 of 3….stay tuned]
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Upgrading of Iraqi currency “dinar plastic (polymer)” Re-evaluate the value of the dinar

Upgrading of Iraqi currency dinar plastic polymerUpgrading of Iraqi currency dinar plastic polymer– Dinar plastic (polymer)

– Restructuring of the Iraqi currency

Re-evaluate the value of the dinar

– Iraqi dinar (polymer):…

Read More: www.dinarupdates.com/blog/
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rcookie (Dinar Guru) –   […does anyone know what we would like to see happen with Turkey… to help with our investment…Who do we want in control of Turkey?]  Personally – one way or the other, I don’t think it matters that much…  [you do not think what happen over turkey will cause a problem with our investment…?]   I do not.
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rcookie (Dinar Guru) –   Article  “Jubouri: 70 laws will be presented at future meetings .. and near terminate the membership of absentees”   SO… JABOURI TELLING US MORE THAN 70 LAWS CUED UP AND READY FOR VOTE.  YOU THINK PARLIAMENT IS GOING TO BE BUSY THIS WEEK.
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rcookie (Dinar Guru) –    THINK ABOUT THIS RELEVANT TO WHAT WE HAVE IN THE RECENT 2 WEEKS REGARDING THE FOCUS ON RESTRUCTURING CAPITALIZATION WITHIN BANKING SECTOR TO THE TUNE OF 200-400% IN BANKS OF ALL SIZES…NOW…NOT TO BEAT A DEAD HORSE…BUT…AGAIN…THE RECRUITMENT… ACQUISITION AND RETENTION OF FOREIGN INVESTMENT AND BUSINESS INTO IRAQ WAS POSSIBLE WITHOUT THESE TYPES OF FINANCIAL AND ECONOMIC UNDERPINNINGS…1 YEAR…3 YEARS…5 YEARS AGO EXACTLY HOW…JUST A HINT…THEY WERENT…NOT EVER…EVER…EVER…   [post 2 of 2]
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ECONOMIC ADVISER TO EBADI – INTERNATIONAL FUND APPROVES STANDBY CREDIT AGREEMENT WITH IRAQ

ECONOMIC ADVISER TO EBADI - INTERNATIONAL FUND APPROVES STANDBY CREDIT AGREEMENT WITH IRAQBAGHDAD / IBN – Economic Adviser to the President of the Council of Ministers confirmed the appearance of Mohammed Saleh, “The Executive Board of the International Fund approved a standby credit with Iraq on 7 July of the current agreement.

Saleh said on Thursday, in a statement to the Iraqi network transmitter (IBN) “The fund was launched in the history of 12 of July of this batch of the loan allocated for Iraq and the $ 634 million out of the total amount of 5.3 billion dollars.”…

Read More: www.dinarupdates.com/blog/
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rcookie (Dinar Guru) –   Article quote:  “The workshop aims to identify the credit risk mitigation, and understand how banks calculate the capital to be allocated to address market risks, and how to calculate standard techniques LCR and NSFR liquidity by the Basel III requirements, as well as understand how conduct stress tests for all types of risk.”    SO THIS BASEL III WORKSHOP IS BEING HELD IN SYRIA JULY 25TH-28TH…THAT COVERS THE MEASUREMENT… MONITORING AND MANAGEMENT OF RISK SYSTEMS IN ACCORDANCE WITH BASEL III REQUIREMENTS RIGHT DOWN TO PRESSURE TESTING SYSTEMS…AND CAPITAL ADEQUACY RATIOS AND WEIGHTING SYSTEMS TO CREDIT RISKS WITHIN THEIR MARKETS WITH ICAAP STANDARDS (INTERNATIONAL CAPITAL ASSET ASSESMENT PROCESSES)…  [post 1 of 2….stay tuned]
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tlm724 (Dinar Guru) –   Article:  “Iraq moves to Turkey after refusing inclusion of the marshes in the World Heritage List” …it looks like France, Turkey and Iran had objections to the Iraqi marshes being included on the list.  France looks like they may be ok with it and they can negotiate with Iran but Turkey is gonna be a problem…first off as we all know Turkey is in a bad way as of today, too much uncertainty and its a power thing with this water.  [Guru] BondLady explained in a desert region water is like gold and Turkey controls the spigot that lets water flow to Iraq.  I pray they can work this out! The marshes are critical to civilization and must be preserved and nurtured.
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wmawhite (Dinar Guru) –    bottom line is; look around the region and ask …”when Iraq is compared to the other countries and their GDP is the true value of Iraq reflected in their currency at $0.00086?” Simply; No. And this is why Iraq does not use it and that there are obstacles preventing it from being used as Citibank stated. IMO, when those obstacles are removed and the movement of the IQD is freed, IMO the CBI will move the value of the IQD to reflect its true value.
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mike (Dinar Guru) –   Article:  “Moody’s credit rating: Iraq’s agreement with the International Monetary Fund will reduce its budget problems”   I think Iraq has a ways to go to improve their credit rating with Moody’s.  What is a ‘Sovereign Credit Rating’:   “A sovereign credit rating is the credit rating of a country or sovereign entity. Sovereign credit ratings give investors insight into the level of risk associated with investing in a particular country and also include political risks. At the request of the country, a credit rating agency will evaluate the country’s economic and political environment to determine a representative credit ratingObtaining a good sovereign credit rating is usually essential for developing countries in order to access funding in international bond markets.”  While I do believe things are and will get better in Iraq, they have to get Parliament to a functional state passing the needed legislation for economic advancement and political cohesion. Making payments to the Paris Club and the Kuwaiti’s would also be a good thing.
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tlm724 (Dinar Guru) –   Article quote:  “The illegal border crossings and projects revenue project Sakona most prominent on the agenda of the Commission’s new legislative term.”  yep they gotta secure those borders, stop illegal crossing and collect tariffs!   It’s all part of the security and revenue plan and is part of the security Shabibi said was needed…wink!
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Poppy3 (Dinar Guru) –    …ALL THE NEWS IN THE WORLD ABOUT POLITICS IN IRAQ NEVER HELP ANY OF US GET CLOSER TO THE REAL RV.  I BEEN AT THIS LONGER THAN MOST AND I ASSURE YOU THE NEWS GETS US NO CLOSER TO ANYTHING…ONLY ACTIONS ON THE NEWS IS WHAT COUNTS.   90% OF THE NEWS WAS NEVER ACTED ON TILL HERE IN THE LAST FEW MONTHS BUT FOLLOW THE ACTIONS AND YOU’LL HAVE A REASONABLE IDEA ABOUT THE REST OF OUR WAIT. 
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