Larrykn – Dinar Guru [i thought Mahdi has had pressure put on him before june] I’m not sure about June but it will happen…they have a lot to do and I just don’t see June is having enough time to get it done. I believe this will happen, otherwise I wouldn’t be here…this will happen its just a process, it will come.
Mountain Goat – Dinar Guru Article quote: “… the UNIFICATION OF THE DOLLAR EXCHANGE RATE IS THE ONLY SOLUTION TO ELIMINATE THE AUCTION CURRENCY.” Okay so you hear this from a minister in parliament telling us that part of the solution to the economic crisis is to get rid of the corruption associated with the currency auctions and the only way to do this is to get STOP the currency auctions. Look at how much money they told us is being stolen out of the CBI reserves due to this corruption. They say 15-20 million US dollars a day…5 billion US dollars a year being stolen from the CBI. No wonder why the CBI can not increase it reserves faster with all this oil wealth coming in as revenue. …as long as the spigot of oil is flowing and the money is rolling in, they will not challenge this theft. The hard part is that the oil will not be flowing forever and so this time of great wealth is the time to sow the seeds of prosperity and build their nation.
Mountain Goat – Dinar Guru Personally, I think it’s going to be a long wait till January 2020 …All the signs are showing us this is now going to be the case. Certainly things could always change on a dime but right now no evidence of that. I know the news from Iraq has been very quiet, but I assure you Mutada Al-Sadr and others are hard at work to turn it all around. …We do know that Mahdi has until June to complete his government for face a possible “no confidence” vote. Will this happen?
Larrykn – Dinar Guru Article: “The Central Bank betray Iraq daily through the auction of corrupt currency” this is why they need to revalue and get off the Auctions… (it’s) too easy for corruption. [Maybe this will push them to do it…] I think there is a lot of things they need to get done before that happens which I haven’t seen them to yet…they haven’t even formed their government yet besides passing the laws needed. [they wont do nothing much now with Ramadan going on.] I don’t think even if they wanted to would this happen that fast for Ramadan…its just another holiday for them. We will be here way after that holiday is over…
Mountain Goat – Dinar Guru Next parliamentary session is scheduled for [today], Saturday. No announcements that they will vote on the remaining ministers.
Mountain Goat – Dinar Guru …The banks DO NOT control the RV. The US Treasury DO NOT control the RV. The initiation must come from the CBI. An indication to us that they have done so will come from the “project to delete the zeros”. This [is] now on hold again and we wait…Does the US have some impact? Yes, the US does have a say in the approval cycle once the CBI is ready. So now April is gone and we will see what May brings us. Remember April showers brings May flowers so we wait and see…lol. We know something has to break soon and so will it happen in May or will this be strung out all the way until 2020? [post 2 of 2]
Mountain Goat – Dinar Guru …there is NO sound or reasonable evidence that the Iraqi dinar will or can RV anytime soon. …the window of opportunity quickly closed at the end of March 2019 as it did in 2018. This happened when the government had the CBI send out the electronic payment files and paid out at the old 1180 rate both times. The only window we now know is for January 2020. Could this change? Yes, it could but there is no sign or evidence it has or will. [post 1 of 2]
ChrisC – Dinar Guru “Alak is not bringing a program rate to the head of the class at the AMF [Arab Monetary Fund]…” Of all the signs, or pieces of evidence, this is the most clear and pertinent to me. This is like saying some fat guy that has never played football is the new quarterback for Dallas. That’s not happening. There should be NO possible way that a CB governor that doesn’t even have an international currency could occupy such a high profile position. It would be embarrassing.
MilitiaMan – Dinar Guru 6) IMF at least twice has addressed their exchange rate to be in line with international standards.imo 7) IMF talking about changing the currency auctions or effectively ceasing them as we know them. 8) Article from the CBI talking about a unified Arab Currency! 9) ISX to be linking with the Nsadaq. 10) Financial Inclusion was a success to date. Those are a few thoughts that come to mind. Most all the items above have no validity while the IQD is at a program rate. I’ll be watching the out come from Mahdi in France. Mahdi and Abadi were involved in the Paris Club. So lets see if Mahdi brings home the kittens.. lol imo. [post 3 of 3]
MilitiaMan – Dinar Guru 3) An article from the Basra Branch of the CBI, told us that they were to facilitate exchange trade with all groups of currency. The spoke of lower denominations and small category notes, and all groups!! …IRAQ TRADE BANK to be operational, as the first international bank of Iraq, in Riyad Saudi Arabia come mid May. 4) Alak has been promoted to Vice President of current session and the President of the AMF in the next session to follow. 5) Alak was recently in Erbil at a new Bank with what looks like him giving education on currency that has different coloring, etc. They don’t need education on old notes. [post 2 of 3]
MilitiaMan – Dinar Guru Laundry list of thoughts of mine why we are going to the Bank so very soon, imo! 1) The Parliamentary Finance Committee is moving in the current legislative session to develop mechanisms to change the monetary policies in the country, in coordination with the Central Bank of Iraq, aimed at raising the dinar exchange rate and maintaining the stability of inflation.” ~ March 20, 2019..” “the change will raise the exchange rate of the Iraqi dinar against foreign currencies while maintaining the stability of inflation In the country“.” 2) Mahdi stated that before June he would increase purchase power for the citizens. [post 1 of 3]
Larrykn – Dinar Guru [Most of Iraq’s revenue is petrodollars] …they have been paying in petro dollars all this time, they will continue to do that until they change their currency, I don’t see that happening for a while. They have a lot to get done before they can do that IMO. I’m getting more convinced that we won’t see these this year. but you never know.
Adam Montana – Dinar Guru Article: “Barzani meets with Mahdi re: HCL” Things happen slowly in Iraq. We know this. It was about 3 months ago when I posted that original link…the articles are starting to focus on the higher level agreements. This is the fine tuning, and the polishing. That’s what I’m seeing happening right now… and it’s all coming full circle, about 3-6 months after the last big round of “regular” news. This just happens to fall in place perfectly, if you ask me. I’m on the fence about Ramadan this year – it might not be as quiet as it has been in the past. I’m hoping to find some more clues, or get some “boots on the ground” feedback over the next couple days. [post 2 of 2]
Adam Montana – Dinar Guru It seems we are in an interesting situation right now. I’ve been watching the news shift directions slightly…not in an opposing way, just a shift. In the past, we’ve had some key things happen around mid-year. Major items, like Chapter 7, for example. The “shift” in the news that I’m seeing is – and I say this with a little bit of reservation, because I’m not substituting my intuition for an actual crystal ball – it is encouraging, in a way that may be signaling another big announcement in the middle of the year. I’m expecting a revaluation of the Iraqi Dinar to be preceded by a bit of silence…and we do have that right now. Don’t get me wrong, we have a lot of encouraging articles to read right now, but the subtle shift in tone…It’s hard to explain… [post 1 of 2]
Larrykn – Dinar Guru Article: “Saairun cedes security adviser seeking central bank head post” [Is it possible that tman23 is correct about the replacement of the CBI governor?] He might be…this article is saying they are replacing the governor…who they pick will mean a lot to how Iraq will move forward. I’m thinking the PM will pick someone that will move toward reforms…
Chattels – Dinar Guru Article quotes: “Parliament ends reading three laws…”; “…it was decided to adjourn the meeting until Tuesday, 30/4/201” [what happened with the voting on the ministers…?] …I am unaware that a vote has been scheduled. My read and take on that news was that names had been agreed upon, but there have been several of those articles without any vote.
In anticipation of economic sanctions affecting … Russia is looking to use local currencies with Iraq instead of the dollar
In anticipation of economic sanctions affecting … Russia is looking to use local currencies with Iraq instead of the dollar
Iraq and Russia are seeking to use national currencies in commercial transactions instead of the US dollar.
“The use of national currencies has been discussed and placed on the agenda for future meetings,” the daily Kommiarant said in a report.
“A program launched in Russia since 2018 aims to reduce the dependence of the Russian economy on the dollar, in anticipation of any economic sanctions that may be imposed by the United States, as this will reduce the impact of sanctions on the economic system in them,” the COMESARNET said.
It is noteworthy that an Iraqi-Russian agreement stipulated the establishment of joint cooperation committees, which meet semi-annually, to achieve common economic benefits.
Read More: DinarUpdates.com/blog
Chattels – Dinar Guru [Is this ever gonna happen] I cannot think of much reason that it would happen this year. Other than to think that it may happen when one would least expect it.
BGG ~ Such a cheery bunch lately.
Mountain Goat – Dinar Guru Article: “TO ENACT THE LAW OF FINANCIAL ADMINISTRATION” Quote: “…the Committee is keen to enact the law of financial administration as it gives a complete road map of the financial policy in the country in terms of management of money and cash in the state…” I don’t know exactly how long this will take but it is very good news. I quote from the article. – “the change will raise the exchange rate of the Iraqi dinar against foreign currencies”. We wait and see what happens.
Mountain Goat – Dinar Guru …there is NO sound or reasonable evidence that the Iraqi dinar will or can RV anytime soon…the window of opportunity quickly closed at the end of March 2019 when the government had the CBI send out the electronic payment files and paid out at the old 1180 rate. The only window we now know is for January 2020. Could this change? Yes, it could but there is no sign or evidence it has or will. …So now April is just about gone and we will see what May brings us. Remember April showers brings May flowers so we wait and see…
Mountain Goat – Dinar Guru CLARIFICATION OF THE STALLING TO FORM THE LAST OF THE CABINET …the only reason is that these coalitions realize how important these positions are and want their own person in the positions. That is all it is. It has NOTHING to do with stalling using this as an excuse to hold up the RV and currency reform…There is NO connection!
Larrykn – Dinar Guru Articles: “Memorandum of understanding between the Union of Iraqi contractors and Turkish counterpart“; “Ministry of construction signed a contract setting up desalination project schemes in Basra with an Austrian company.” Lots of good deals are being made right now, I still say if Iraq can get out of their own way, good things will happen.
tman23 – Dinar Guru …coming September 25th there will be a NEW CBI GOVERNOR… This is a FACT! So yes its stewing…but will the do it for the second quarter or wait until they seat the new CBI governor and roll to first of the year…sit back and watch mid June along with first signal will be new currency… [post 2 of 2]
Mountain Goat – Dinar Guru Article: “PARLIAMENT WILL VOTE NEXT TWO WEEKS ON INDUSTRIAL CITIES LAW” Quote: “…this law is important and it is necessary to be resolved during this stage in order to provide the appropriate environment in the provinces for all industrial companies for the purpose of employment and activating the private sector, noting that the LAW EXEMPTS COMPANIES FROM FEES AND CUSTOMS.” …being exempt from fees and customs is part of what companies need to come in and invest in Iraq. So this is a good start. But there is also an investment law that needs revisions and to be passed also.
Mountain Goat – Dinar Guru The news today is mostly all about getting investors in Iraq. They know they need to kickstart their economy somehow but can’t just seem to be able to do it with any level of success. But the news today suggest maybe they might move ahead finally in the coming weeks and months. There are still no signs from the CBI of an urgent pending reinstatement of the dinar any time soon… Article: “POST OF GOVERNOR OF THE CENTRAL BANK OF IRAQ” Quote: “It is noteworthy that some sources said earlier, that the post of governor of the Central Bank will be a coalition led by Moqtada al-Sadr.” I am seeing that Sadr is NOT pleased with the efforts of the CBI and still feels it is enormously corrupt and not doing all the necessary actions too deal with it. Sadr also wants currency reform and wants it NOW.
tman23 – Dinar Guru …The news I have is follows…May 6 is Ramada…on that date what I have known for past week or so is that there is a HUGE DEAL between US and China for $$$ and that appears to have some regards to a payout for citizens…IQD is what I hope it is but I suspect we should see lower denoms enter the picture and sometime estimate 6 weeks after the May 6 date around 6-15 possibly the change to IQD however they have decided to execute it… [post 1 of 2]
Kaperoni – Dinar Guru [The new CBI bank being built makes me think they need a world tradable dinar to go along with that Big Fancy Bank!] For sure. Article VIII is coming.
Mountain Goat – Dinar Guru …The Iraqi Central Bank determines the reinstatement timing not the banks…The bank screen with rates have very little to do with the process other than they are at the VERY last point in the food chain in the process… By the time they are of any significance we would have already known about all these other points and we would know for sure that the reinstatement has already occurred. The CBI also is going to let us know and not just pop this out on its citizens without sufficient warning. We have been told this by the CBI itself over and over again and each time they attempted to reinstate this has been the case…
MilitiaMan – Dinar Guru Article: “US agency: Baghdad Tehran to negotiate the purchase of natural gas in Iraqi dinars” It looks like the work in progress is heating up since late last year. Now that Iraq and Iran must make a deal in dinar to circumvent sanctions (possibly have made one)…I suspect the pressure in Iran is red hot to get a proper deal done with the neighbor and in a currency that has value or at least adjust as to not take a hit in trade value between Iraq, and so an appropriate deal can be utilized to alleviate disparity in exchange rates and to avoid sanctions by the rules in place per the USA…We shall see if Iran makes a proper deal to sweeten the pot or not for her citizens. My take is regardless, it is getting very hot…IMO
Delta – Dinar Guru URGENT FROM IRAQI TV: US AGENCY…BAGHDAD NEGOTIATE TEHRAN TO BUY NATURAL GAS IN IRAQI DINARS…