Tman23 – Dinar Guru …I posted month or so ago about replacing the CBI governor...that doesn’t come until September 28th so ignore all the other chatter… I told you this was happening month ago and now you are seeing it in print…
Larrykn – Dinar Guru ...Iraq has never said they were going to do the RV next year, they never said anything about the RV. Its just what needs to take place for them to do it is the question, which IMO could happen anytime they feel they are ready. They seem to have been moving forward a lot lately so time will tell…I don’t care where they start at or how, just do it…seem to me they have got a lot done that I thought they need to get done but I still feel some Laws need passing, which hasn’t happen yet…
Tman23 – Dinar Guru ...couple days to July 1 G20 in Japan where the issd board meets and sets precedence …Sept 28 2011 is when Abadi as the chairman of finance committee made an announcement that the 3 zeros were set to be lifted at the start of the new year. he made another around October 8 which spoke on providing the new lower notes were available….. Soon after CBI governor Shabbibi was in Japan at the issd meeting (this was noted a attending a convention)….. IMO from research and info this is where the MAGIC happens… Maliki placed the warrant for Shabibi while he was in Japan never to return to Iraq again… So what is happening now is very interesting !!!
G-Lin – Dinar Guru …The IMF Art. IV report is due out in July. It should give some good info.
Mountain Goat – Dinar Guru So parliament is now into their 2nd legislative term. Didn’t they tell us they wanted to complete the project to delete the zeros during the current or 1st legislative term? Here we sit with still no reinstatement. But remember this is not a simple process of flipping a switch and so it may still very well be in the making soon. Just relax and let’s see what happens in the coming week.
*** Dinar Newsflash *** PM Mahdi sent a new name for the Minister of Education to be voted on by parliament . Unfortunately, this person was denied. This means the government is still not officially formed. What’s not completely clear at this point is whether Mahdi included a name to parliament for a permanent Central Bank of Iraq governor. The name being reported is Ali Abdul Allawi. There was intel about a possible change at the CBI several months back…now it appears a change may be near.
Larrykn – Dinar Guru Iraq has never said they were going to do the RV next year, they never said anything about the RV. Its just what needs to take place for them to do it is the question, which IMO could happen anytime they feel they are ready. They seem to have been moving forward a lot lately so time will tell…
Breitling – Dinar Guru …When I first got into this investment from the reports I got…I thought it was going to revalue at 12 cents. That was the highest it was going to go. This was in the very very early stages. So that’s how I bought my dinar based on that. Then later on down the road they started saying hey, “we want it to come in at $1.18. Eventually we want it at $3.25.” Understanding in my mind that it’s going to be a process that it’s not gonna be boom its gonna revalue. They specifically said it’s going to be a process. I believed in it and I still do believe in it…
Adam Montana – Dinar Guru Even though Iraq isn’t technically “present”, it’s not difficult to understand that anytime oil, money, gold or gifts leave Iraq – they are touched by one or more of those major players listed above. For Iraq to be successful in raising the value of their currency, they need to be able to operate their business, and the G20 Summit will have an effect on how the global money game is played for the next year. Once the Summit has concluded, Iraq may change their tactics slightly, but most importantly they will be free to make a decision and act accordingly. It’s a big deal, and it’s good. So although I don’t expect an RV announcement to be made at the Summit, or directly because of the Summit, I do think it’s reasonable to expect some actions after the summit.
Adam Montana – Dinar Guru …This time of year has historically been big for Iraq. Monumental items like Chapter 7 unfolded in late June, and there’s another important event right around the corner: The G20 Summit. Quote: “The Group of Twenty (G20) is a global forum comprised of twenty of the world’s largest economies, focused on addressing global economic challenges. Its membership includes nineteen countries—Argentina, Australia, Brazil, Canada, China, Germany, France, India, Indonesia, Italy, Japan, Mexico, Russia, Saudi Arabia, South Africa, South Korea, Turkey, the United Kingdom and the United States—and the European Union.” You probably noticed that Iraq is not on the list. In that case, it might not be immediately obvious why this even matters to us, so I’ll explain a small part of it… [post 1 of 2]
Breitling – Dinar Guru …Iran and currency and Iraq being a backdoor advantage…is specifically because of the U.S. dollar. So if Iran is cut off from the US dollar market wise they could probably funnel some US dollars or use U.S. dollars through Iraq. But that is being shut off. Iraq can see the light and they’re pivoting. This is crystal clear what is happening. They might even support Iran and have empathy toward Iran but they know who’s going to win at this. They know the result and they don’t want any part of the losing team at all. So it’s kind of a hard pivot…It’s kind of amazing. You can see it in the news. You can see what they are doing through the GCC. Through all the stuff that’s coming down the road…
Breitling – Dinar Guru [Question: “Would the revaluation be held up knowing that Iran has Iraqi dinar with sanctions against Iran the US might influence or convince Iraq to hold up until the Iranians come to terms. Why allow dinars to be worth more? Iran would just continue to fund its war machine?] …Iran has a foreign currency reserve just like every other country. In other words they have US dollars in that reserve. They have Russian rubles…all sorts of currencies…no body knows the combination. How does that money get transferred? That’s the key you need to understand on what it is that if Iran has dinar why it doesn’t matter…One of the part of the sanctions was we are going to stop Iran from using the Swift accounts…it’s an electronic blockade…so they can’t use any of their currencies...so if they have dinar and there is value added, they can’t use it to trade efficiently…don’t worry about the Iraqi dinar in Iran’s hands and it revalues…It’s not going to change anything. It’s not going to give them an advantage…
Larrykn – Dinar Guru …the cbi and the government are to different entity but they do work with each other, my thinking of them moving forward was that until today they had not seated their government and unless they did so I can’t see them moving to doing anything with their currency, now that they have I like to see the laws needed getting done, like the Investment laws and others. I hope to see that done soon. It finally looks like they are going in the right direction.
Sandyf – Dinar Guru …the CBI and the Government are completely different entities from one another. The CBI is the one who is responsible for the currency and can change the rate not the Iraqi Government. A central bank is only responsible for the currency, a government is responsible for the monetary unit, of course you would need to understand the difference.
David M. Witty – Dinar Guru Iraqi Parliament votes for Defense & Interior Ministers’ nominations. Iraqi Parliament disapproves nominee for Education Minister. Iraqi Defense, Interior & Justice Ministers take constitutional oaths.
G-Lin – Dinar Guru Article: “The House of Representatives votes on the ministers of defense, interior and justice and ends reading two laws” Quote: “…Mr. Najah al-Shammari, Yasin al-Yasiri and Farouk Shwani were sworn in as ministers of defense, interior and justice.” [“The Defense and Interior Ministers are passed and they took the oath already!! HUGE HUGE HUGE!! They didn’t approve the education minister yet but they are still meeting again tomorrow so finally the two most important ministers are approved! Should be an interesting week ahead of us!“] I agree…We have waited several years to see this.
Iraq appoints new defense, interior, justice ministers
Baghdad (IraqiNews.com) – The Iraqi parliament approved on Monday three more ministers in Prime Minister Adel Abdul Mahdi’s cabinet following several months of political disputes.
During a parliamentary session, the lawmakers approved Najah al-Shammari as defense minister, Yassin Taha al-Yassri as interior minister and Farouq Amin al-Shawwani as justice minister, Baghdad Today reported.
The three ministers are scheduled to take the oath of office shortly at the parliament.
However, the lawmakers rejected the appointment of Sufana al- Hamdani as education minister.
Former minister of education Shaimaa Al-Hayaali has offered her resignation to Prime Minister Adel Abdul Mahdi last December amid reports that her brother had links with the terrorist Islamic State group.
The parliamentary vote on the vital ministries was delayed several times over political divisions.
MilitiaMan – Dinar Guru Alak is clearly talking imo about currency carry trade. He needed to do the calculations to get to a rate that will be stable and steady with a strong interest rate, thus, traders can carry the currency trade…Now lets watch the Proxies go by the way side to usher in the fully seated Ministers and the new Fully seated currency rate Alak has for us at the same time or just after the Ministers sit. The GOI institutes the CBI, yet the CBI is independent. So once Ministers are seated then Alak can talk!!..imo. Sure looks exciting imo… [post 2 of 2]
BGG ~ Interesting commentary, to be sure… However, note this is a highly speculative opinion ONLY. There is no proof of such a time-line of events.
MilitiaMan – Dinar Guru Article: “Interbank Market The Central Bank launched the electronic platform for trading between banks operating in Iraq (FX, Money Market)” Quote: “A platform that establishes an organized electronic financial market that opens and facilitates the way for foreign investment in Iraq.” They signed the Deal with the Indian Firm now the CBI says this… Keep in mind that FX, Money Markets are the largest markets in the world! The CBI has set the stage to go live from the picture I am seeing in all this data they are putting out. [post 1 of 2]
Adam Montana – Dinar Guru [I came to the conclusion that the tax code is just not clear about this RV situation. …That’s why some CPAs believe it will be Cap Gains, and others are just as sure it’s Ordinary Income.] I do still agree with that, and there’s only one way that’s going to change – if/when the IRS gets around to clarifying it, as it relates specifically to the Dinar/this situation. Unfortunately, they can clarify it pretty quickly… certainly in the same tax year as the RV is announced, and I’m betting it won’t be in our favor. If at all possible, I would love to claim Cap gains. The unfortunate reality is that we may not have that option, especially after the rules are changed retroactively on us. I am hoping for the best but prepared and protected against the worst in regards to taxation.
MilitiaMan – Dinar Guru Article: “Central Bank Governor: We are proud of Samir Al Nusairi’s book and thank the Association of Banks for its support” Effectively it looks as though Alak has set the stage to create, if not already implemented the time frame to use the mechanism to turn the auctions off as we know them, as they are ready to correct the large structural imbalances to a position of balance…the tools are in place to raise the balance of the Central Bank
Mountain Goat – Dinar Guru Article quote: “…ENTER INTO LEGAL PROBLEMS BECAUSE OF THE BUDGET LAW WHICH THE GOVERNMENT COMMITTED TO COMPLETE AT THE END OF THE 30TH OF THIS MONTH...] More delays have rippling effects downstream. Delays in getting the govt formed out of proxy is now going to delay the budget.
MilitiaMan – Dinar Guru Article: “The Iraqi Trade Bank signs an agreement with the Indian Information Solutions Company” So they…tell us the Iraq Trade Bank has cut a deal with an Indian Solutions Compnay to provide financial Technology Services to meet requirements of the Bank and other financial institutions in an out of Iraq. In other words internationally. …the sectors they mention…Oil, Steel, Iron, petrochemicals, fertilizers and dairy operations. All about supporting the future reconstruction efforts once they lift the value like they told us they would. imo.
David M. Witty – Dinar Guru Iraqi MP says plans to discuss completing PM’s cabinet in today’s meeting of Parliament have been postponed since the government has not sent the list of nominees.
G-Lin – Dinar Guru No completion of the cabinet…I’m not surprised. The entire area is too unstable.
MilitiaMan – Dinar Guru Article quote: “The main thing that is achieved is the stability of the exchange rate and the reduction of the gap between the official price of the US dollar and the parallel price, which is a basic objective of the monetary policy and the implementation of the policies of re-confidence in the banking transactions of Iraqi banks with Arab banks” They are clearly laying out what they are doing in regards to reforms and future actions in regard to the IQD exchange rate. They are going to cease the auctions as we have noted over the last few days. They say…that they are to reduce the gap between the official price of the Dollar and the parallel price…imo.
Adam Montana – Dinar Guru BUT, did something major happen? YES. That’s where we seem to be right now. This is the time of year that many major milestones have been reached in Iraq. NOW is the time I’m expecting to see something major… maybe HCL, maybe something else, and very possibly a rate change. The tension is growing, and it shows in many ways…like how your animals know a storm is coming, when the weather person said “10% chance of rain”, and then the neighbors barn and cows get taken away in a tornado. Fido knew. Did you listen? …Bring on the twisters! [post 2 of 2]
Adam Montana – Dinar Guru If you were around the Dinar world before Chapter 7 was lifted, an event that was arguably one of the most important events related to Iraq in recent history, you’ll remember that things got VERY exciting before that happened. It was not a guarantee that Chapter 7 would get lifted…in fact, it was questionable if it would actually happen, and very much a surprise to many. Even without absolute confirmation of this very important event that was about to transpire, and even though many of the news stations and media and all of the people “in the know” didn’t give a warning… the dinar world had a “feeling” that something was about to happen…Did we have an RV at that time? Obviously not. And nobody cashed in…at least, not at the $3+ rate. [post 1 of 2]
Mountain Goat – Dinar Guru The new coins have not yet been allowed into circulation but we know there are to be new coins and they are stamped and waiting at the banks for use them, but not yet. We should expect yet more news about these new denominations and coins. This is all VERY good news…We should be jumping up and down and getting our champagne chilled. Again I say let’s look for the 50 and 100 dinar notes to come out along with the coins. This will be our sign they are about to reinstate the currency back to the global exchanges for public trading. [post 2 of 2]
Mountain Goat – Dinar Guru Article: “DANNAIR PUBLISHES THE FEATURES OF THE NEW IRAQI CURRENCY AFTER THE DELETION OF ZEROS” So the new smaller notes of 5, 10 and 25 are replacing the 3 zero notes of 5,000, 10,000 and 25,000 accordingly. This is a 1:1 RV in Iraq. I said within Iraq, did you hear me? In addition they are also issuing a 50, 100, 200 dinar notes of smaller category. Remember they already issued the 50 notes way back in 2015 in the anticipation the reinstatement was going in January of 2016. [post 1 of 2]