Word for the day…
Mrs. BGG
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| CURRENCY | CODE | SELL | BUY |
| US dollar | USD | 1184.000 | 1182.000 |
| Euro | EUR | 1229.584 | 1228.969 |
| British pound | GBP | 1455.018 | 1454.290 |
| Canadian dollar | CAD | 881.083 | 880.643 |
| Swiss franc | CHF | 1150.073 | 1149.498 |
| Swedish krona | SEK | 129.489 | 129.425 |
| Norwegian krone | NOK | 136.601 | 136.532 |
| Danish krone | DKK | 165.398 | 165.315 |
| Japanese yen | JPY | —– | —– |
| Special Drawing Rights |
SDR | 1582.534 | 1581.743 |
Indicative rates – 01.25.2017
http://www.cbi.iq/
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Thinking is the hardest work there is, which is probably the reason so few engage in it. – Henry Ford
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*** Current News ***
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MadDScout (Dinar Guru) – Article: “Rasheed Bank in line with an international company of the Comprehensive Banking System Requirements” More banking reform being implemented…Laws being applied evenly…Upgrading the technology and moving into “international” requirements…
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Loop (Dinar Guru) – Article: “High degree of optimism about Iraq’s credit rating” Quote: “The rating agency Standard & Poor’s, the largest credit rating agencies in the world, has recently proven its credit rating for Iraq at B- / B in spite of the fluctuation of oil prices and a height of caution and gave him a stable outlook.” the (S & P) pointed out that Iraq possesses huge reserves and has substantial oil exports, thereby reducing the concerns in this area. …ASK YOURSELVES THIS…WHAT HAS CHANGED? IF…ALL THIS NEWS DOES NOT MAKE YOUR SMILE THEN YOU NEED TO REREAD THE NEWS FOR THE LAST 4 MONTHS.
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wmawhite (Dinar Guru) – Article: “Iraqi Central Bank, all banks to stop providing drafts bills and import licenses on the sale of currency window, pointing to comply with the electronic system” This is significant. The IMF encourages all central bank to have the exchange/sale of foreign currencies within their country to reside within the banking system. Not at the central bank. This article shows that the CBI is engaged in completing that task. The CBI just put out the instructions a week ago and today it is telling the banks to get with it, follow the instructions.
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wmawhite (Dinar Guru) – […I dont believe that a RV will change the corruption in Iraq.] You are correct…and why is that? Answer: because the IQD will NOT change in value within Iraq. Corrupt people will continue to look for ways to benefit off of other people’s hard work.
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BGG (Dinar Guru) – […any idea why the date on the CBI site has been frozen at “Indicative rates – 04.01.2017“?] I have offered my opinion – it has something to do with the recent changes in how they do things within their banking system (going on right now) – and while odd, may have nothing to do with a change in value. I did not say – “nothing to do with currency reform” – because, if it has anything to do with the recent shake-up in their banking structure – then obviously, it has something to do with “currency reform”.
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jaxjags – To me, the CBI would never make it known that those notes would have a place in the market place unless they believe the “market conditions” will change in the near future. Again, IMO, we are close to seeing an aggressive move on the part of the CBI to let the IQD find its true value...whatever that may be. [post 2 of 2]
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Breitling (Dinar Guru) – …Never has there been 50 Trillion dinar in circulation…this is not an opinion… The market responds to how these people [Sunni, Shia Kurds] treat each other. I understand that. But they are going to add value to their currency anyways. That is one of the tools they want to use to try to bring everyone together…to accomplish that hey have to establish a financial base so people don’t get desperate and make these proxy wars. Hopefully. That’s what they’re thinking. The Sunni and Shia are not in competition where one wants to add value to the currency and the other one doesn’t. Or even the Kurds. They all want value to be added….when it comes to currency and the markets…there is no differences of opinion about that. They just argue about who gets to rule what. Iraq is a fantastic opportunity. That has not changed. Every trend in the market…on how a currency goes up, Iraq is doing it…zero hype.
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Iraqi Dinar/Dollar auction 01-25-17 (most recent listing)
Currency Auctions Announcement No. 3367
This daily currency auction was held in the Central Bank of Iraq on the 1-25-2017
The results were as follows:
| DETAILS | NOTES |
| Number of banks | 32 |
| Number of remittance companies | 17 |
| Auction price selling dinar / US$ | 1182 |
| Auction price buying dinar / US$ | —– |
| Amount sold at auction price (US$) | 169,678,520 |
| Amount purchased at Auction price (US$) | —– |
| Total offers for buying (US$) | 169,678,520 |
| Total offers for selling (US$) | —– |
More: http://dinarupdates.com/blog/
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jaxjags – Concerning the appreciation of the IQD, I have no idea exactly how it will appreciate. However, I believe the CBI will be aggressive in its pursuit. The CBI stated in numerous articles starting back in November 2016 that the 50, 100 and 200 IQD notes would appear in early 2017. Of course, that is a forecast of “need” concerning those notes, NOT a forecast of “value” of the currency. [post 1 of 2….stay tuned]
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BGG (Dinar Guru) – [Anyone have any idea why the CBI hasn’t updated their exchange rates on the web site since the 4th? Seems kinda odd.] …no one has any idea. Longest stretch in the last 5 years they have not updated.
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WMAwhite (Dinar Guru) – Article: “Class US site of the Iraqi currency [dinar] at the bottom of the strongest Arab currency arrangement.” Quote: “According to the order published on [howmuch.net] the US, the GCC currencies were among the strongest Arab currencies, are bottom, including Iraq…” …the Iraqi currency [dinar] at the bottom of the strongest Arab currency arrangement. Folks,…ask yourself why does this particular short article appear in an on-line business publication that out of all of what is happening in the ME it points out this?
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BGG (Dinar Guru) – …When there is a value change – we will know. The value of the Dinar was spoken to directly by the Gov of the CBI several times in the few days. Going down is not what he said. …we are really close… they are handling financial, economic and currency reform items every day. The news about the Commercial Agencies Law being voted on shortly is HUGE. Big companies won’t go to Iraq if they have to hand their business over to an Iraqi. We should be very encouraged. The factual info is plenty encouraging.
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Loop (Dinar Guru) – Article: “International Monetary showing satisfaction of Iraq’s efforts to meet the credit requirements of the program” Quote: “…satisfaction with the efforts made by the Ministry of Finance and the Central Bank of Iraq and other ministries in the area to meet the requirements of the program,” adding “it is going according to timings marked in the program,” according to the statement…it is going according to timings marked in the program…The IMF is satisfied with the progress of the SBA! BOOM.
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Loop (Dinar Guru) – Article: “Finance issued government bonds secured one billion dollars” Quote: “foreign banks praised the interest rate achieved by the Ministry of Finance for these bonds compared to similar cases to other countries, the issue is guaranteed by the United States government bonds.” The EU BONDS ARE READY (ISSUED) AND THE FORIEGN BANK PRAISED THE INTEREST RATE ACHIEVED! So what’s changed from last year? As evidenced by the shear number of MoUs and other agreements Iraq has made with countless countries. THE WORLD LIKES THE ACTIONS THE IRAQ HAS TAKEN TO CORRECT THEIR ECONOMIC COURSE AND THEY ARE SEEING THE POTENTIAL TO MAKE LOTS AND LOTS OF MONEY. AND THE SPEED AT WHICH THESE BONDS CAME OUT IS AMAZING!
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Iraqi Dinar/Dollar auction 01-24-17 (most recent listing)
Currency Auctions Announcement No. 3366
This daily currency auction was held in the Central Bank of Iraq on the 1-24-2017
The results were as follows:
| DETAILS | NOTES |
| Number of banks | 34 |
| Number of remittance companies | 17 |
| Auction price selling dinar / US$ | 1182 |
| Auction price buying dinar / US$ | —– |
| Amount sold at auction price (US$) | 164,459,579 |
| Amount purchased at Auction price (US$) | —– |
| Total offers for buying (US$) | 164,459,579 |
| Total offers for selling (US$) | —– |
More: http://dinarupdates.com/blog/
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Loop (Dinar Guru) – Article “Iraq Stock Exchange recorded an increase the value and number of shares during the past week” Quote: “There is a rise in the number of shares traded last week by (129.85%) compared to per week, which was accepted, while there was a rise in the total value of shares traded last week by (154.78%) compared to per week, which was accepted.” The ISX had a good week last week. Week over Week increase in trade volume by 129.85%…Week over week increase in share value 154.78%. WOW. Wonder what sparked the sudden activity?
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Loop (Dinar Guru) – ‘’Rafidain Bank confirms the grant in the 10 million dinars for employees to Card Holders” Rafidian is working overtime on strategies to get the citizens to start using the banking system and feel safe doing so.
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BGG (Dinar Guru) – Kuwaiti Dinar is still considered a thinly traded “exotic”…Iraq is almost certain to land in this category… no biggie – it’s alot like you’re all sitting on a penny stock about to get listed on the big board – no matter where it goes, it’s gonna’ be good.
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The advance granted to employees who have a smart card receives their monthly salary
Baghdad/SNG – Rafidain Bank, said Saturday that his predecessor granted 10 million dinars for State officials to have smart card activated receives her monthly salary.
The Bank’s information Office said in a statement, a copy of SNG received “a strategic plan on the Bank granted 10 million advance that an employee must have a smart card activated through resettlement of salaries in private savings accounts and activate the electronic tax receipt and pay her monthly salary, in addition to the payment of the insured who has previous advance advances.”…
Read More: http://www.dinarupdates.com/blog/
1Bobby ~ These are the cards that will reduce the note count and add liquidity to the banks. Remember the 3 Ministries that agreed to have ALL employees salaries issued thru this card? Also the Rubber Industry agreed to the same with their employees (19,000 or so) This “10 million” advance was aimed at the :shortcomings” of the salaries due to the economic crisis.
Employees that sign up, thru the smart card, will be eligible for these advances. Just inner workings that have been going on for awhile now. They had to get the Ministries approval and get their ducks in a row before proceeding with this program. Bottom line is…..reducing note count, adding liquidity to the banks. Hope all that made sense. I’m sure others can add to it.
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BGG (Dinar Guru) – […do you find it odd we haven’t seen any statements from the World Economic Conference by Iraqi officials?] I do – I find a lot of things VERY strange lately…so much progress – much like the IBAN being accepted and utilized and we heard about it a week later… anyone notice the CBI has updated their Currency Buy/Sell listing on their website since 1/4?? …very odd (to say the least)…we may have to be digging to find the exact time of any value change – we use to say “just check the CBI”. That’s out the window… …it’s gonna’ happen overnite – we will (hopefully) know quickly, but we might have to dig and verify. IMHO. [Is there any chance that we have already had a value change, but has not been posted on the CBI?] anything is possible – but we have such broad contacts, I just doubt it has. [If we dont look at the CBI for the rate change, where will we find that information?] We’re gonna’ be looking at everything in context… probably some kind of “inter-bank memo” since they in the process of “re-engaging” right now. [can they have a rate and not showing it? How are they doing business other wise?] …the “not showing” part is not a long term thing – we’ll know pretty soon. No matter what.
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Breitling (Dinar Guru) – …It’s not what they’re saying it’s what they’re doing is what you need to understand the most…the CBI said they’re going to raise the value of their currency. The Ministry of Planning, parliament say the value is going to go up. I don’t need them to say anything if I’m watching their maneuvering and I understand how they’re going to compete. Then I understand how they’re going to add value to their currency. I really don’t have to hear anybody “say” anything. I just watch what they do. It’s not what they say it’s what they do that’s most important and the CBI is maneuvering in our favor if you’re investing in Iraq. So don’t get too crazy on what everybody says…just watch what the CBI does. Watch what the ministry of Planning is doing and how they’re doing it.
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Loopster (Dinar Guru) – [Just curious if there is a purpose for why the CBI would put the banks through the process of selling the dollar on a large scale rather than change the value of the dinar first and negate the need for selling the dollar…any thoughts on that?] As Alak has said the selling of the dollars will continue at present. It is the way that their economy is functioning and to just stop it would collapse the economy. When the time is right to stop selling the dollars they will do so. It is a process and as anyone who is looking can see they implementing new measures everyday to to give themselves the greatest chance of success when they decide to do away with the imposed rate.
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Iraqi Dinar/Dollar auction 01-23-17 (most recent listing)
Currency Auctions Announcement No. 3365
This daily currency auction was held in the Central Bank of Iraq on the 1-23-2017
The results were as follows:
| DETAILS | NOTES |
| Number of banks | 31 |
| Number of remittance companies | 17 |
| Auction price selling dinar / US$ | 1182 |
| Auction price buying dinar / US$ | —– |
| Amount sold at auction price (US$) | 155,429,453 |
| Amount purchased at Auction price (US$) | —– |
| Total offers for buying (US$) | 155,429,453 |
| Total offers for selling (US$) | —– |
More: http://dinarupdates.com/blog/
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Adam Montana (Dinar Guru) – …I’m very upbeat about the Dinar right now. More so than I have been in quite some time! We have Budget activity that is more timely than at any point in recent history. We have major talks of buttoning up major aspects of the Infrastructure, which is key to this all coming together. We have open spots in Parliament that are slated for completion as soon as next week. And for the biggest, perhaps most exciting “clue” of the decade… Article: “Oil announces the completion of a draft oil and gas law and send it to the Secretariat of the Council of Ministers” We’ve got a few days or weeks, but things are MOVING in the right direction! This is a PERFECT time to make sure you’ve got your ducks in a row…and maybe even a “prep list” of things to be sure you have and ready to pack at a moment’s notice! We are at a point where I feel a sense of urgency to get every last detail checked and fine tuned…BOY am I getting just a tad excited!
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Breitling (Dinar Guru) – …With the Iraqi dinar I stand by the numbers. The numbers say they’ve reduced the note count. They said they are going to add value to their currency. They have all the opportunity in the world to add value to their currency. They are not a 3rd world country like people think they are. They were in trouble and are in trouble and in financial chaos because of geopolitics. Can they get out of it? Sure. I personally think they can. I think they will. Can they get their currency back to the original value before Saddam Hussein started screwing with it? I think they can. That’s why I invested in it. That’s why I speculated and say I think they can do it and gamble on this. [Post 2 of 2]
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Breitling (Dinar Guru) – The currency reset? what the hell is that? It doesn’t even exist and people are buying dinar because of it? If you’re going to get into an investment get in for the right reasons. With that said…I back every single thing I say, every number that I watch…It comes from the CBI, the Ministry of Planning, the Ministry of Finance and Parliament. You can’t get around it. They are the ones who are saying they are going to add value to the currency…not me. I’m just following it. It’s not like one day I just woke up and said I should go out and buy dinar…Iraq has the ability to add value to their currency and they have the ability to do exactly what they said they are going to do…get their currency to a buck. [Post 1 of 2]
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The following .PDF was a review by RCookie of the IMF board’s publishing of Iraq’s SBA (excellent info) – He would have wanted you all to have it.. posting the whole .PDF was the only way to get it on here. Enjoy. BGG
Robert Cook CSW CSS CBP CST CTC
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Loopster (Dinar Guru) – Article: “The central bank issued new instructions to regulate the process of selling the dollar” Quote: “…the instruction stresses the need to achieve the main objective of the Central Bank, a knowledge of the ultimate beneficiary and the preservation of hard currency for Iraq through the optimal use in order to serve the national economy and sustainable development…” “a knowledge of the ultimate beneficiary” The IBANs make this very easy to track. The actions that are happening in the bank sector right now are a huge indicator of where Iraq is headed and that should make everyone in this room very very excited.
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tman23 (Dinar Guru) – Article: “Central bank: deletion of zeros from the currency deferred for the time being” Deferred for the time being…When I read this… my first thought was… THEY ARE READY TO GO… To say deferred for the time being is NOT “Iraqi LINGO”….If he had a teleprompter I would say the UST was on the other end typing…I expect to see BIG NEWS at anytime and not thinking in terms of weeks.
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Loopster (Dinar Guru) – [did the budget ever get in the gazette yet?] Yes. The Budget was published in the Gazette on Sunday.
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Hutch (Dinar Guru) – …we do have an idea of what is happening…if you look at their 5 yr plan that has been set out by Shabibi, Saleh and Abadi… they are sticking to it. And it is playing out. The LOI’s, MOU’s have it all set out as to what their goals are and how to achieve them. And its working.
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Iraqi Dinar/Dollar auction 01-19-17 (most recent listing)
Currency Auctions Announcement No. 3363
This daily currency auction was held in the Central Bank of Iraq on the 1-19-2017
The results were as follows:
| DETAILS | NOTES |
| Number of banks | 33 |
| Number of remittance companies | 17 |
| Auction price selling dinar / US$ | 1182 |
| Auction price buying dinar / US$ | —– |
| Amount sold at auction price (US$) | 160,461,658 |
| Amount purchased at Auction price (US$) | —– |
| Total offers for buying (US$) | 160,461,658 |
| Total offers for selling (US$) | —– |
More: http://dinarupdates.com/blog/
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Mike (Dinar Guru) – Article: “Iraq opens the door to possibilities deletion of zeros from the local currency” Quote: “…the Iraqi Central Bank did not specify a date for the deletion of zeros from the currency dinar,” noting that “subject to availability of appropriate conditions, including the general stability in the country.” …the CBI is working towards adding value to the dinar…the CBI didn’t specify a date, they’re still waiting on appropriate conditions and they want to make sure all their T’s are crossed and their I’s are dotted before they start. I think it’s pretty safe to say…that Iraq needs to do some things before the dinar will gain in value: 1) Get the MCP below 2% 2) Remove Exchange Restrictions 3) Pass the long overdue legislation related to the the banking and economy verticals. 4) Create the open market that’s necessary to increase demand.
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WMAwhite (Dinar Guru) – […wouldn’t reducing the note count to the point of a liquidity crisis force a rise in the value based on supply and demand once the Dinar is free to go up in value?] The note count has an effect in country, but only the CBI sets the value outside the country.
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Mike (Dinar Guru) – Article: “Iraqi dinar is not in danger and delete the zeros Postponed” Quote: “revealing that the deletion of zeros from the currency, deferred for the time being.” The loose translation for defer is “to put off (an action or event) to a later time; postpone.” And then he states: “the Iraqi Central Bank did not specify a date for the deletion of zeros from the currency dinar,” noting that “subject to availability of appropriate conditions, including the general stability in the country.” He’s telling us they don’t have a date, they’re just waiting for the right conditions to move forward. In order for a currency to have value it needs several things like political stability, free from conflict and a economy that produces and exports products to create demand for the currency…once they raise the value the prices will change, 10,000 dinars today will buy you five packs of smokes, 10,000 dinars after it rises to 1-1 will buy you a Toyota pickup.
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DU Call – “Homage to RCookie!!”
from Tues – Jan 17th
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WMAwhite (Dinar Guru) – A change in the prices of goods; the prices are what determine the size of the notes. Lower the prices, remove the large notes. What will change the prices of the goods/ marketplace? A dramatic increase in the value of the currency that is importing the goods. General stability, security = FINANCIAL security, financial stability, not military security. Alak is a bank manger, not a military… Alak is saying today the market conditions are not correct for removing the large notes…and he does not have a date for that…he will not have an idea when until he raises the value and we know he is preparing to do that. Two different things…One is removing them physically to lower the note count….the second is removing them naturally because the prices have lowered due to a value change. The prices in the market place need to lower in order for the citizens to use smaller notes, thus no need for the larger notes. [post 2 of 2]
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WMAwhite (Dinar Guru) – Article: “The Central Bank Governor for “tomorrow”: Iraqi dinar is not in danger and delete deferred zeros” Folks…each of us need to pay attention to exactly what is said. Alak was referring to the large notes, the removal of the large notes from the currency. That is NOT the same as increasing the value of the currency. They are two very different events. …this is pertaining to the removal of the three zero notes from the marketplace/from the currency; “the Iraqi Central Bank did not specify a date for the “…deletion of zeros from the currency dinar,” This Statement is not about the change in the value of currency. He is saying that the prices in the marketplace are not appropriate yet in order to remove the currency. So, what will change the marketplace? [post 1 of 2….stay tuned]
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BGG (Dinar Guru) – Article: “Governor of the Central Bank’s “Tomorrow Press”: Iraqi dinar is not in danger and delete the zeros Postponed” [AND ALAK’S RESPONSE IS NOT UNTIL IT IS SAFE TO DO SO!…does this mean Mosul?] probably – (my take)…it really looks like control of Mosul (and liberation) seems to be some kind of criteria (set for them by someone else). however, there are numerous references to this happening soon. ...in my book – that doesn’t negate any of the earlier CBI comments about the beginning of 2017 – sounds a bit like they may have had it planned for sometime before now and some calculus has put things off a bit…like Mosul? …AND Alak makes no mention of “how long” it is “postponed” (or what their original intended start date might have been)… a day – a week – a month?? He’s talking to a reporter. Could mean anything.
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Iraqi Dinar/Dollar auction 01-18-17 (most recent listing)
Currency Auctions Announcement No. 3362
This daily currency auction was held in the Central Bank of Iraq on the 1-18-2017
The results were as follows:
| DETAILS | NOTES |
| Number of banks | 35 |
| Number of remittance companies | 17 |
| Auction price selling dinar / US$ | 1182 |
| Auction price buying dinar / US$ | —– |
| Amount sold at auction price (US$) | 157,515,015 |
| Amount purchased at Auction price (US$) | —– |
| Total offers for buying (US$) | 157,515,015 |
| Total offers for selling (US$) | —– |
More: http://dinarupdates.com/blog/
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RCookie (Dinar Guru) – [Any comments on this article? “Governor of the Central Bank of Iraq on the Keywords Governor of the Central Bank’s “Tomorrow Press”: Iraqi dinar is not in danger and delete the zeros Postponed“] THIS ARTICLE IS AN AFFIRMATION OF EVERY STATEMENT MADE IN PAST CONCERNING IQD MARKET STABILITY AND DISPUTE OF DEGRADATION…REASSERTS THE FISCAL OPERATIONAL DISCIPLINES APPLIED BY THE CBI…AND ALSO RESTATES THERE IS NO DATE SET FOR THE DELETE ZEROES PROJECT (WHICH THEY WILL NEVER ANNOUNCE)…AND AWAITS THE APPROPRIATE MARKET CONDITIONS AND GENERAL STABILITY OF THE COUNTRY…ALL IN THE INTEREST AND SCOPE OF ASSURING THE SUCCESS OF THE PROGRAM…THEY HAVE THOROUGHLY PLANNED THIS PROGRAM OUT IN ALL OF ITS COMPLEX STAGES AND ACTIONS…AND ARE AWARE…CONFIDENT AND IN PURSUIT OF ATTAINING THE ACCEPTABLE WINDOW OF METRICS TO LAUNCH…SO (as) TO ALLOW FOR MAXIMUM SUCCESS…NOT LEAVING ANYTHING TO CHANCE…
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Loopster (Dinar Guru) – IF YOU LOOK AT THE ACTUAL QUOTE FROM ALAK HE DOES NOT USE THE WORD POSTPONED (THE REPORTER’S INTRO DOES), WHICH WOULD INFER THAT A DATE HAD ALREADY BEEN SET AND KNOWN… TO MY KNOWLEDGE AN ACTUAL DATE HAS NEVER BEEN ANNOUNCED TO THE PUBLIC… I THINK WE WOULD ALL BE VERY AWARE OF IT IF ONE HAD BEEN MENTIONED… THE CLOSEST THING TO A DATE THAT ALAK HAS SAID WAS THAT IT WOULD START EARLY 2017… [post 2 of 2]
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Loopster (Dinar Guru) – Article: “Governor of the Central Bank’s “Tomorrow Press”: Iraqi dinar is not in danger and delete the zeros Postponed” SO A REPORTER FROM TOMORROW PRESS ASKS ALAK IF THE DINAR IS IN DANGER AGAINST OTHER CURRENCIES AND HE SAID NOT AT ALL WE ARE CONSTANTLY MONITORING IT, HAVE PROCESSES IN PLACE AND HAVE EVERYTHING UNDER CONTROL. THEN THE REPORTER ASKS HIM WHEN THE DELETION OF THE ZEROS PROJECT WILL START AND ALAK’S RESPONSE IS NOT UNTIL IT IS SAFE TO DO SO! NO EARTH SHATTERING INFORMATION HERE. IT IS A PROCESS THAT WILL ONLY BE IMPLEMENTED WHEN ALL OF THE METRICS THEY ARE LOOKING FOR ARE MET. THIS WILL GIVE THEM THE GREATEST POSSIBILITY OF SUCCESS. [post 1 of 2….stay tuned]
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TMan23 (Dinar Guru) – Deferred for the time being…… When I read this…… my first thought was…… THEY ARE READY TO GO….. To say deferred for the time being is NOT “Iraqi LINGO”……. If he had a teleprompter I would say the UST was on the other end typing…….. I expect to see BIG NEWS at anytime and not thinking in terms of weeks…..
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Islandg1211 (Dinar Guru) – The good news is that the CBI continues to move forward. Last week, Iraq’s banks got their IBAN international bank transfer number codes. That’s great news and really shows that Iraq certainly does plan to get the Dinar international again and off the UN sanction rate. Reports of more US banks buying and selling Dinar is also good news, testing the system, adding the Dinar, and making it internationally acceptable. Neither the IBAN codes nor the sale by banks of the Dinar make practical sense without the RV.
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BGG (Dinar Guru) – I really wish people would quit imagining the worst… nothing in here [The Alak interview] dissuades me of their ultimate intent… in fact, if you look at this, it really looks like they had imagined this to be DONE ALREADY. We are IN THE END GAME. This “deferred for the time being…” lingo is very gentle and a VERY NEW version of what they have been saying. They had POSTPONED indefinitely this project back in late 2012 (or so)… how is that different from right now??
Ultimately – this is a much different, in a MUCH DIFFERENT CLIMATE – so, while the BOO BIRDS will say “same ole – same ole” – it’s NOT EVEN CLOSE. VASTLY DIFFERENT.
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I can honestly say, the last few days… especially since this Alak interview supposedly delaying the RV, is the DUMBEST STRETCH OF GURU COMMENTARY in recent memory. These characters doing all the talking are damaging the collective IQ of the rest of us!! Sheesh!!
Quit listening to IDIOTS and just read what Iraq is saying… for what it is. We will help by bringing this info and adding some thoughts as we are able.
Thanks
BGG
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My Ladies (Dinar Guru) – …WHAT IS IBAN? IBAN IS AN INTERNATIONAL BANK ACCOUNT NUMBER. THAT IS ALL IT IS AND NOT EVERY COUNTRY THAT DOES BUSINESS INTERNATIONALLY IS REQUIRED TO HAVE ONE. FOR INSTANCE THE USA DOES NOT REQUIRE ONE BUT SOME COUNTRIES DO IN ADDITION TO A SWIFT OR BIC NUMBER. NOW YOU CAN ADD IRAQ TO THIS LIST, BUT STILL THIS HAS ABSOLUTELY NOTHING TO DO WITH CURRENCY…MONEY WILL NOT BE FLOWING INTO IRAQ ON THE IBAN. IT IS NOT “THE” IBAN AND IT IS NOT A MEANS OF CARRYING MONEY, IT IS SIMPLY JUST ANOTHER ACCOUNTING SYSTEM AND IT IS NOT A PRECURSOR TO ANY SO CALLED “RV”…
BGG ~ This person is downing this investment and busy “cashing in” on what little fame they have garnered HYPING some RIDICULOUS “digital crypto-currency”… NASTY.
P.S. Thanks for the juvenile lesson on IBAN except the US doesn’t use one because it’s primarily a European/M.E. thing… we use SWIFT Codes and ABA/Chips routing numbers to send and track money. Most of the rest of the world is happy to accommodate us (we are the U.S. – right?). Though it doesn’t directly imply a change in the value of their currency – IT DOES IMPLY A “re-engagement” with the economies nearest them and then the rest of the world. This is all part of the program we are looking for… BOOM!!
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Kaperoni (Dinar Guru) – That being said, I think the IMF stated just a week or so ago that the CBI only completed 3 of 9 benchmarks during 2016 as required as part of the SBA. So like usual, the CBI is behind schedule again. The good news is they are making progress, and they are implementing the requirements. I would expect that we are at least 3-6 months behind schedule at this point, but the CBI is not going to announce when they are going to get off the peg and float. And knowledge of moving from Article XIV to VIII will not be announced in advanced. We need to just watch the progress, let this come to us. It will happen..because there can be no market economy without it. [post 2 of 2]
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Kaperoni (Dinar Guru) – Article: “Iraqi dinar is not in danger and delete the zeros Postponed” Quote: “the Iraqi Central Bank did not specify a date for the deletion of zeros from the currency dinar,” noting that “subject to availability of appropriate conditions, including the general stability in the country.” He stressed the central bank governor and the agency, the need to “ensure the success of the process of deleting the zeros requirements before starting out, so the central bank will continue technical preparations in order to be practical fit when deciding deletion.” I don’t see anything bad in this at all. …the CBI must create the conditions for the project to succeed. Time is not unlimited here…they need to get started before the market economy can launch. [post 1 of 2….stay tuned]
BGG ~ Tick-Tock-Tick-Tock…
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Central bank: 2017 will see the issuance of new cash categories
Director General of counting version and inventories at the CBI Ihsan Yasiri delete the zeros of the Iraqi currency and a national project to feminine Iraqi currency, likely work on the project early in 2017.
“The Yasiri that” the central bank began to study the development of new designs for the currency after the removal of zeros it, “noting that” the deleted zeros currency will deliberate for Sntn in the local markets, as the bank continues to center to pull the old category of the currency over ten years. ”
Likely launch a new category of the beginning of the currency in 2017 because there are a number of opponents of the project, “pointing out that” monetary Asaddaramlat category 50, 100 and 200 to ease trading burdens currency after deletion of zeros, as well as the provision of liquidity to the means of transportation of currency. “…
Read More: http://www.dinarupdates.com/blog/
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