Iraq an economic Study

ok - I think I get it.

So, then this: The only thing I can think of is they are sucking out as much dinar as they can for the next two weeks in anticipation of the big change coming on April 15, where they stop selling dollars almost entirely

Did I miss something?

Last Edited by calin on 04/03/2013 01:28 PM

I didn't post it when it came out because I don't think I really understood it. Below is the article. Tell me if you think I'm misreading it, but it sure sounds, to me, like they're basically shutting the auctions down, except for people traveling outside of Iraq or for international business purposes.

Here's Zul's take on it, before you get into the article:
According to the instructions issued by the bank that "quota weekly for the banks to sell cash dollar be four million dollars is subject to increase and decrease..."
Weekly..? quota 4 million dollars per bank..?
25 banks will give you 100 million weekly = that is 20 million DAILY.
Compare that amount to the current DAILY auctions.......hmmm. SOmething is cooking, definitely.


[link to dinaralert.webs.com]

Obelisk instructions of the Central Bank publishes new on buying and selling foreign currency

24/3/2013


BAGHDAD / obelisk: issued CBI, Sunday, new regulations for the sale and purchase of foreign currency, in order to what he considered to stabilize the Iraqi dinar exchange rate against foreign currency to meet the needs of the private sector, including the import of goods and services and to encourage banks to expand their scope, stressing that contrary to the instructions New will be forwarded to the Commission determine the imposition of fines and penalties, confirming validity of these instructions from the 15 April 2013.

According to the instructions issued by the bank that "quota weekly for the banks to sell cash dollar be four million dollars is subject to increase and decrease, while the share of money transfer companies $ 150 thousand for companies that their capital 45 billion dinars, and 100 thousand dollars for companies with less capital for that."

She FAQ that "in the case of billing documents fundamentalist goods spectrograph to enter Iraq in advance, the Bank provides a full Akiem those goods from foreign currency after being examined."

And on companies to mediate for buying and selling currencies showed FAQ that "quota weekly 50 thousand dollars to companies with a capital of 500 million dollars, and 25 thousand dollars for companies less than that," adding that "the sale and purchase of the foreign currency to money transfer companies and companies broker for buying and selling foreign currency through authorized banks in Iraq. "

The instructions indicated that "cash sales be in accordance with the detail contained the Book of the General Directorate to monitor the banking and credit No. 03.09.93, dated 02.17.2013 and the decision of the Board of Directors of this Bank number 09/03/29 dated 05/02/2013, and attached to these Altalmyat, which is considered an integral part of them.

She drew instructions to be "selling the dollar be for the purposes of the documentary credit, which aims to encourage banks licensed in Iraq to work depending documentary According payment terms after ascertaining the availability of the necessary documentation and acceptance of letter of credit, in addition to the hawala system where accept orders dollar hawala and money transfer companies, by banks, for the purposes of the importation of goods and merchandise that does not exceed the upper ceiling of the amount of hawala (500) thousand dollars, and certain mechanisms. "

With regard to the mechanism of application confirmed the instructions, "orders offered daily and implemented on the same day of the week that followed, in the case of exclusion of any of the applications will be announced bank official letter and the announcement of the reasons for exclusion," indicating that "the right of the bank to object to it under a book directed to the Department of sale and purchase of foreign currency. "

She said "the bank buys foreign currencies offered by the banks and the purchase price stated on the day of submission of the sale," adding that "the procurement process is subject to audit and control and field inspection by the Directorate-General to monitor the banking and credit and money laundering office."



According to that "taken into account Anmd credit rating and franchising preferential banks and the bank commitment to deliver the exchange rate to the beneficiary latter including no more than 10 dinars over the sale price, and the commitment of the bank diverse customers and not restrict Bmstviden certain or limited class."

She stressed that "window must buy and sell foreign currencies excluding any request did not meet the necessary conditions."

For instructions Click on the links below:
Instructions _ Bank _1.jpg
Instructions _ Bank _2.jpg
Instructions _ Bank _3.jpg
Instructions _ Bank _4.jpg
Instructions Bank 5.jpg




[link to translate.google.com]
--

Ok thanks. You would be better skilled at understanding this than I.

So, is this the reason for the buzz you are hearing about 4/1 or 4/15?

Well, 4/15 for sure. The 4/1 stuff was just intel. No basis, and those people all qualified it by saying could be 4/15. They didn't mention this specifically. This is all Revbo (with a lot of help from Zul and tlar).

Are you watching this Nork situation? That could definitely throw a kink in all this. (Or provide the perfect cover if it doesn't get too out of hand)

Last Edited by Revbo™ on 04/03/2013 01:58 PM

NK? Yes.

I feel like we are in Time Wave Zero end... everything is compressing.

oh... except the RV! :)

BAGHDAD / obelisk: a reliable financial source revealed, Wednesday, that the central bank will double during the next two days, the share of money transfer companies and foreign currency banking.

The source told "obelisk" that "is heading the Central Bank of Iraq to double the quota of companies financial and banking transformation of foreign currency weakness," adding that "the application of this directive will be during the next two days, and will include doubling companies are committed to the instructions of the bank."

The Iraqi market has witnessed a major upheaval for weeks in the price of the U.S. dollar against the Iraqi dinar as the sale price of one dollar to 1280 dinars.

The Central Bank of Iraq, issued Sunday the 24 March, new regulations for the sale and purchase of foreign currency, whereby the share weekly for the banks to sell cash dollar four million dollars is subject to increase and decrease, while the share of money transfer companies $ 150 thousand for companies that their capital 45 billion dinars , and 100 thousand dollars for companies with capital of less than that.

It showed FAQ regarding companies broker for buying and selling currencies that share the weekly 50 thousand dollars to companies with a capital of 500 million dollars, and 25 thousand dollars for companies less than that, and buying and selling a foreign currency for the money transfer companies and companies broker for buying and selling foreign currency through banks approved in Iraq.

[link to translate.googleusercontent.com]

Kaperoni:
Initially, this article seems like the CBI is attempting to collect even more dinar by offering a special two day event (dinar for dollar) to try and mop up even more dinar from Iraqi's. Which if true would seem like they are about ready to open up the banking sector internationally and make the dinar internationally convertible with a new rate. On the other hand, this may simply be an attempt to reduce the spread from the CBI and street rate of the dinar through additional outlets. In either case, dinar is scarce which continues to be very odd.

Tobyboy:
Kap The way I understand this is over the next 2 days will increase the number of outlets in the area by doubling the number of places to cashin. The other thought I had was maybe the getting ready to RV/FF and will need more places available for cashin and since the almost dollarized need more outlets in Iraq once they start exchanging the dollars back to the dinars. I am sure you have everyone mad rush back to dinars once RV occurs. JMO

Enorrste:
Although the translation of these articles leaves a lot to be desired it appears to be indicating that the "quotas" for banks in Iraq are being raised in order to allow them to handle larger foreign currency transactions. There may be several reasons for this that I am not aware of, but the most important one that comes to mind is that the CBI is EXPECTING that the banks will be in need of additional funds in order to handle the transactions. It is therefore doubling the "quota" to allow for a better managed situation overall.
This brings to my mind the following question: Why would they be expecting a need of this nature that would require a doubling of their "quotas"?
The answer to that may be that they are about to open the doors to international financial transactions with the dinar. If that is the case it would explain the doubling of the quotas, so that the banks would be ready for increased foreign currency traffic (into and out of the dinar).
Therefore, it seems to me that this is very good news indeed. Of course my understanding of this may be incorrect, but I can't seem to come up with any better explanation for a doubling of quotas over a short 2 day period.

What do you suppose this could be all about?


Release Date: April 4, 2013
For immediate release

The Federal Reserve Board on Thursday announced the finalization of standards for banking organizations regulated by the Federal Reserve that engage in certain types of foreign exchange transactions with retail customers.

The rule, issued pursuant to the Dodd-Frank Wall Street Reform and Consumer Protection Act, establishes requirements for risk disclosures to customers, recordkeeping, business conduct, and documentation for retail foreign exchange transactions. Regulated institutions engaging in such transactions will be required to notify the Federal Reserve and to be well capitalized. They will also be required to collect margin for retail foreign exchange transactions.

The types of transactions covered by the rule include foreign exchange transactions that are futures or options on futures, over-the-counter options on foreign currency, and so-called rolling spot transactions. The rule covers entities regulated by the Federal Reserve including state-chartered banks that are members of the Federal Reserve System, bank and savings and loan holding companies, Edge Act and agreement corporations, and uninsured, state-licensed branches and agencies of foreign banks.

The Federal Reserve consulted with the Office of the Comptroller of the Currency and the Federal Deposit Insurance Corporation in developing the rule. The agencies have engaged in separate rulemakings as specified by Dodd-Frank.

The rule will be effective on May 13, 2013.
[link to www.federalre...g]

great thread

i'd like to thank all who contributed and still do, I will give karma when i get some

regards

tlar:
The rate has already dropped to 4% difference down from 8% in just a few days, proving the CBI could have controlled this difference at anytime by introducing the same regulations they just installed. The acceptability of a 2% difference is the convenience factor for anyone wishing to buy currency from a street vendor. Think of it as you want to buy gas. One station sells it for $3.49. Directly across the street there is another station selling the gas at $3.43. For you to get to this other station you have to turn against heavy oncoming traffic. So you decide it is more convenient to just pay the extra 6 cents more because its more convenient to not have to cross the street. 2% is the internationally accepted "convenience" factor. The street vendor is right there and the bank may be blocks away.


This statement in the above article pretty much sums up what I have been saying. "unacceptable differences in price. " Unacceptable because if they can not bring the street rate up quickly showing they do control the street, then the other way to get the prices together is to lower the program rate. I said a while back that any country that has 3 - 5 times their countries outstanding currency just sitting in foriegn currency reserves in the central bank, should be in control of the rate. They could at anytime put a premium on their currency and buy it "all" back. This means the CBI was in control of the street rate all along but intentionally let it just drift. An argument could be made that the CBI caused this disparity in rates. They let a door open for a reason. That reason is now no longer a concern and they are closing the door. We have to look no further than to see what actually happened by letting this door open. Iran and Syria were releaved of the trillions and trillions of dinar they had accumulated. A side benifit was that the Iraqi's were dollarized by the same process. Remember this door was opened while Shabibi was in office and in control. Turki continued to hold the door open after Shabibi was removed, and in fact opened it wider. Niether Shabibi nor Turki ever tried to justify it to the Iraqi people or the government because they could not openly discuss what they were doing. They both went quite on the subject but stayed the course. This has to have been engineered by the international community to resolve a major problem that they at least now, believe is resolved.


Here's the article he's referencing:
The goal of the CBI is bring the Market rate and the official rate closer together as said earlier. The acceptable difference is 2%.
In extensive interview with "the world" on Tuesday, said the appearance of Mohammed Saleh deputy central bank governor, said that "our procedures last to authorize bank Rafidain and Rasheed sell the dollar, was its impact positively down price. And the dinar fell about 7 percent in the previous days, and today (yesterday) arriveddrop to 4 percent. "He expressed the hope that "up the difference between the auction and the market to 2 percent, and this figure universally acceptable and normal in the price differences."
[link to translate.google.com]
Also;
The deputy governor of the Central Bank of the appearance of Mohammed Saleh in an interview for "Alsumaria News" "The Bank was able to reduce the difference between the sale price of the dollar in the auction conducted by a day and between the price of the dollar in the market to 4% after it has reached more than 7% during the last period , "asserting that the Bank" seeks to reduce the difference to 2%, which is the natural difference in the world and unacceptable differences in price. "


BNA13:
The CBI adds 13 dinars per dollar as a commission. See any article about the auctions. So the goal is 1198-1200 in the market. Then we may see some movement in the official rate.

Last Edited by Revbo™ on 04/05/2013 06:03 AM

Here's the latest from LapDog at DinarDetectives:

I RECEIVED THIS EMAIL FROM MY GUY IN BAGHDAD TODAY (AND YOU ALREADY KNOW HIS CREDENTIALS) ---- STILL DOES NOT MEAN IT IS ABSOLUTE FACT. BUT I KNOW HIS INFORMATION IS BETTER THAN ANYTHING I HAVE EVER READ HERE.

From: Tony XXXXXXXXXXX
Sent: Friday, April 05, 2013 5:39 AM
To: Bionic Dog
Subject: Something is Definitely up...

No one is going to tell me that nothing is going on……..will call you tomorrow.

The World Bank and the IMF are working feverishly day and night with the Iraqi Banking System...security is extremely tight. They are pushing us day and night now.

The UN is working overtime to clear up the Kuwaiti and other Chapter VII issues...

The UN is working hard to get Parliament representatives to show up for meetings...

The State Department is in ongoing negotiations to settle the Erbil (Kurdish) and Baghdad (Iraqi) political, and Oil sharing issues...

Why is the big push on now????????

*I stand on my unbiased prediction... Out of Chapter VII before the end of April...

*If Iraq is out of Chapter VII in April, a Revaluation will occur prior to May 22.

Tony

I think I am addicted to rumors, I heard it froms, and bank stories!

Thanks for sharing ReV!!

Me too, calin, but only from people without 3 years worth of fail behind them.

Bara Afif

04/05/2013

U.S. Foreign trying to bring the views of the opponents of political science by searching for a way out of the crisis multilateral in Iraq.

And centered endeavor U.S. on finding flooring suitable for understanding between the Government of Iraq's Kurdistan region and the federal government, as scheduled to travel to Arbil, a U.S. delegation headed by Advisor to the U.S. Secretary of State Brett Makjurk, who has previously carrying the message to Baghdad that it should continue the dialogue and make the necessary compromises to resolve the crisis , but a member of the Kurdistan Alliance Mohsen Saadoun believes that the constitutional demands Region would not budge them, and that the U.S. side many previous visits to the region did not change his positions.

Observers believe that the climate between Baghdad and Erbil seems encouraging at the moment to find a solution, especially after the visit of the delegation of the National Alliance to Kurdistan, and exploring the possibility of amending the budget law 2013 to meet some of the Kurdish demands.

A member of a coalition of state law, Hussein Net Radio Free Iraq, said poor understanding of some of the provisions of the constitution and the laws of Iraq by the two parties led to the outbreak of those differences, stressing the need to preserve national unity without threat of separation and give the Kurdish side additional amounts of oil companies.

Observers believe of the Iraqi that the U.S. will endeavor to accelerate the solution of the crisis between Erbil and Baghdad. And political analyst Khaled Serail that the most effective solution is to continue the dialogue.

And the effects of new U.S. endeavor question about the possibility to expand this effort to include the standoff between the government and the Sunni-majority provinces, but Serail believes that unify the demands of the demonstrators and try some of the political blocs gain demonstrators in their favor confounded general understanding by the American side.

Multifaceted crisis levels and demands, still need more mediations and concessions, and a lot of dialogue to create a suitable base strips to resolve current and future crises.

[link to translate.google.com]

I normally think Millionday is good but a little overly optimistic, like myself, which is why I don't post her much, but this chat goes along with LapDog's information, so I thought I'd put it out there.


Millionday News 4/5/13
[millionday] Proposed banking expert Mohsen Ali specialized economic conferences of the banking sector and in the presence of advisors and international experts to develop and promote it. Ali said a press statement: The parliamentary Finance Committee announced that during the last period for holding a workshop for the development of the banking sector and in the presence of specialists in Baghdad and Amman, but failed to reach radical solutions to solve the banking problems and how their work has evolved.

[millionday] He added: that the process of development banking important and needs to be held more than an economic conference attended by the heads of all local Iraqi banks, government and the use of international experts and advisers global financial specialists in the field to enable them to develop formulas for how to develop the banking sector Iraqi. urged the need to take advantage of the recommendations of these conferences in the process of amending the legislation or the General Banking Law in Iraq.

[millionday] now dont be confused with this translation -- this is the call for all international experts to develop the banking reform
[millionday] whoooop whoooop


[millionday] the call for many experts and the cbi ect to come together to ensure it is all set and help bring it to fruition

[ROBINREDHED] COOL

[millionday] love it !!!!!!!!!!!!!!!!!!!!

[anthonlcs] I was thinking the banking reform might have been accomplished already and just needed implementation

[millionday] and believe me when i say this is great and expected --- it effects all areas of the economy
[millionday] and also includes the monetary policy and banking -- economic reform
[millionday] brb with more -- big smile
[millionday] anthonlcs smile

[millionday] now i have something else
[millionday] that is worth a huge smile on your face
[millionday] brb with more

[ROBINREDHED] ill smile EARLY....OK....GRINNING

[millionday] now if this doesnt make you smile -- step away from the hammer
[millionday] lol

[millionday] so the only way to promote as we have been reading about --- the private and public sector is how? through electronic trading and global -- so here we go
[millionday] i will summarize at the end of it

[millionday] hold on to your chair its good and its good

[millionday] Number of specialists stressed the honored on the importance of the diversity of financial products and banking services that must be offered to the public customers at a time when the world is heading towards electronic money management and positives in the creation of an advanced economy depends advanced technology and achieve economic feasibility, to افتين to that fees for services provided to beneficiaries must be acceptable not affect the adoption. economist stressed the need to start trading money electronically in Iraq instead of cash trading (Cache) to reduce the size of the money supply and the need to educate citizen positive aspects of electronic trading

[millionday] note -- smile

[millionday] it is long so here it comes

[millionday] The academic said Essam economic المحاويل&#161​0; (morning) that it is necessary to promote a culture of electronic trading with money the adoption of smart cards (MasterCard, Visa or other) that will contribute to facilitate the buying and selling of online shopping. He noted that electronic trading money in place in most countries of the world and need to be adopted in Iraq after the publication of banking culture among citizens, demanding that the Central Bank and other banks need to quickly erect more ATMs for the benefit of the greatest number citizens. He stressed the need to improve the system of direct payments through enabled chunked national system that unites all banks a unified banking system and comprehensive enabling citizens to withdraw and deposit and transfer funds from any bank branch to another

millionday] i second that motion
[millionday] note -- check this figure out too

[millionday] So called financial expert Mohsen Humairi to the importance of work on the advancement of electronic banking products that must be provided to the citizens and facilitate electronic trading, and access to these services to the world. And draw Humairi to the importance of the advancement of the electronic banking better than it is now and contribute to the development of banking business to keep pace with global products, pointing to the importance of taking into account the reality of wages deducted by the adoption of these services and it deals with income segments limited in the society, especially pensioners and prefers to deduct wages accepted these slides versus getting paid through ATM service, a service does not deserve these wages, and pointed out that the deduction amounts of up to ten thousand dinars upon receipt of some Grants preferably reconsider this step and must not be a flaw in the process of the evolution of service that must be provided Bajaur reasonable citizen is not affected during the adoption.

millionday] as in here comes the international banking visa mastercard --- ect
[millionday] more coming
[millionday] dont let your face crack

[millionday] Indicating the importance that there be competition in the provision of these products through a number of companies that must reside within the local financial sector. Especially that the country is on the verge of economic development stage requires advanced technology in the field of money check the economic feasibility of the general sector of the economy, as well as services provided to a wide range of citizens. And pointed out the importance of the development and the multiplicity of electronic payment outlets and create an atmosphere of competition between workers in the sector because it helps in any way to the creation of new products continuously and this led to the development of financial sector transactions across different companies, stressing that stage transition towards a market economy works to

[millionday] bring the most advanced technology to activate the atmosphere of competition within the field of labor and creates several options for beneficiaries in the orientation of the adoption of a particular service without the other. He noted that the country desperately needs a lot of products that must be adopted by the financial sector and are available in countries around the world, indicating the importance of the creation of local talent that can manage this detailed and success in its application in the field of domestic capital. For his part, the Iraqi Central Bank seeks to reduce the use of cash (CASH) in the country, because of the challenge of geography and security issues that make the transfer of money within the country difficult is not without risk.

[millionday] whoooop whoooop -- more coming

millionday] note -- obviously referring to its time to bring in the cards --and enter the world with their atms and exchange and visa mastercard ect
[millionday] brb with the rest

wmawhite] millionday ..........did somebody say "internationally recognized currency"??????

[millionday] as in its time -- so very close
[millionday] love it

[wmawhite] visa/mc

[millionday] lets read this carefully

[millionday] A source in the bank "is heading efforts to automate the processes of settlement of checks and salaries and activate automation systems for electronic card, to keep more cash in bank accounts." He added the Central Bank is currently working with local and foreign destinations for the issuance of a special law in all electronic payment systems to be working within a sound legal environment, stressing that Iraq possesses one of the most advanced electronic payment systems in the world, a system administrator exchange interbank payment orders automatically and using safe and effective network.

wmawhite] millionday ........they already have some of this???

[millionday] "The responsibility for the operation and management of accounts settlement between participants to ensure the safety and efficiency of payment systems and clearing operations are limited to the central bank itself." Noting that "Iraqi payment systems consist of the gross settlement system in real-time and automatic clearing system and the system of government registration of securities." He pointed to the completion of the primary market for the automation system of government securities, which began working on them by the Bank, in consultation with the Ministry of Finance in 2008 while seeking to automate the activities of secondary market trading and which will hopefully work soon.

[millionday] wmawhite oh yes

[wmawhite] thanks

millionday] now the settlements as we know are for multiple things however they would be done in the rate and after this is in place obviously
[millionday] and
[millionday] the system would allow for someone to be out of the country and they would be able to use their card so obviously -- internationally recognized currency

[ROBINREDHED] obviously

[millionday] i hope everyone knows that this is what we are waiting on

[millionday] The central bank said earlier that the "national project chunked or retail payments system is one of the fundamentals of the financial infrastructure of the new Iraq." Banking expert said the appearance of Mohammed Saleh, said that this project will provide a big banking service to citizens through the consolidation of all banks, whether civil or governmental, national divider system, which aims to improve the payments system in Iraq. He explained that "this credit card system works and that will be available to all citizens to facilitate internal financial transfers between individuals in all provinces.

millionday] last part>>>>>>>>>>>>>. He added that this system allows withdraw and transfer money from the sales outlets or points system for all banks, which will be spread across parts of Iraq. Noting that work on the project that does not require a legislation law will be launched soon. He said that the central bank law allowing the issuance of rules and regulations related to the payments system and its own projects such as National Distributor which connects all the government and private banks a unified communications network

[millionday] can i say goood goooogly moooogly !!!
[millionday] so let me summarize this

[millionday] they are activating the entire system and moving the new Iraq and their money to the world -- free market --- stock market -- pairing with the usd ---- and atms --- and the entire infrastructure system in country and
[millionday] the ability to go to the atm and see what your balance is at another bank ect as we can so the entire electronic banking
[millionday] this requires an internationally recognized currency and it requires complete activation of their monetary policy and their economic reform in all areas

millionday] they said to do it now so we shall see when now is --- and
[millionday] they said that cbi is in the process

wmawhite] ROBINREDHED ROBINREDHED millionday ......something is taking place................this is way TOOOOO public for it not to be happening.

[millionday] wow finally we are moving right on to it

[RickeyT] so, they could just become international with a free floating currency and allow the market to dictate the rate or re-value with a inernational acceptable rate and float, or really do it with a rv and have a managed float

[millionday] cbi is working on it now and want the atms to be able to be worked on in country or at least locals to be trained ect but obviously with the first report it is being done by a huge group of international experts

[millionday] RickeyT they have to set a rate

[millionday] so the report says that cbi is in the process so at some point within this --- the rate has to come out

[wmawhite] millionday RickeyT ...........YOU can not manage your international budget/transaction if your rate is changing daily.

[millionday] if they can buy on the internet -- understand that they can sell as well at that time so we are very very close
[millionday] as a matter of fact

[ROBINREDHED] this is amazing

[millionday] they are currently working on all of this

[millionday] this is fantastic my friend

[wmawhite] millionday .....if buying on the internet the currency has to be changed in the process.

[millionday] after all these years
[millionday] wmawhite absolutely -- as if we buy in canada for example --- the rate will be set

[wmawhite] millionday ...........exactly.....

[millionday] smile

millionday] so i can say now -- we are waiting on the ,,,,,,,,,,,,,,,,,,,,,
[millionday] rv

[millionday] we are waiting on the point that they have to either reinstate the currency to a normal rate or to revalue it so they can move forward globally

[millionday] cbi is currently working on it so however long they take to get it and also the entire world of experts are there ---

[NUMBERS] soon????

[millionday] oh very by what i see

There's something in the latest post from LapDog that's causing GLP to reject the post (It's really long, so I don't feel like figuring out what it is), but take a look at this link. Good stuff.

[link to forum.dinardetectives.com]

Hmmm, interesting read. I have to agree with him on the float issue. Perhaps a RV and then a float, but just a float would serve no one. When the big boys want it done, it will get done. ts

Good reading ReVbo! He is smart and knows his stuff... or appears to anyway. Very encouraging

He takes his jackass-ery seriously, too. I'm thinking of inviting him over to GLP. I think he would feel really at home here yelling at people and calling them sheeple all day.

Invite away!

Invite away!

These higher auctions are the result of the CBI selling dollars at subsidized rates through Rasheed Bank. Their purpose is the regain control of the street rate and bring it back in line with the CBI rate. See the bold part below. If Shredd right, my April 15 thing works, assuming that article wasn't BS, of course.


4-8-2013 Newshound Guru Shredd the issue of cash supply is escalating... Flight forward to a revised monetary policy or retreat. Those are the options Iraq faces. I don't know about you but retreat hasn't been the theme in Iraq for a while. More and more, time is on our side....the longer the status quo in this regard, the greater and growing need for the dinar to be Iraq's currency becomes. [post 1 of 2....stay tuned]

4-8-2013 Newshound Guru Shredd regarding why they don't or haven't already....I think it's pretty clear Stability is the goal...My strong sense is we are in a fine-tuning stage right now and have been for a bit. it's hard for us, looking from the outside in, to see the whole picture, looking back is all we have and that is an awesome view...banking and investment laws, regulation and compliance, a revived isx, infrastructure growing by the day, oil production like it never has and kurds getting their whey and what we have been seeing imo is the answer you seek. So much news about stability in the currency, blocking counterfeiting, banking transparency and smart cards. All these things need to be in place. So, to me...once the currency stability is there, we will see the implementation of the new monetary policy. [post 2 of 2]


Read more: [link to www.dinarguru.com]

Blue just sent this to me. I know it's iReport, but it's pretty well-written. It sounds guru-ish, but smarter, so I dunno...



[link to ireport.cnn.com]

TRUE WEALTH OF IRAQI PEOPLE
By jbp1955 | Posted March 19, 2013 | Greenville, Texas


We, as a people, cannot go back and correct things of the past. However, we can voice and make known the things of the now and what it will mean for the future. This iReport will not go into the underlying reasons or goals of the invasion of Iraq but it will set forth a view as to the now and what it means to remove the political landscape so that the Iraqi people can move forward in their freedom as a nation but more importantly move forward with the wealth which has been promised to them and made constitutional within the new Iraq constitution.
We focus so much time on news worthy politics but gloss over news worthy reports of the real behind the scene issues of allowing the Iraqi people to finely realize one of the fundamental reasons of providing them with a democratic nation. At a time, when major financial issues exist around the world it is felt the investigative reporters have failed to really look into the details of the underlying conditions which these issues are more political than real.
One of the major objectives of liberating Iraq was to provide the people with a democratic nation and they be allowed to create a government of the people and by the people establishing a constitution which would provide for the health and wealth of its people. The constitutional was approved in 2005. Article 140 of the Iraq Constitution requires the executive authority shall undertake the necessary steps to complete the implementation of the requirements of all subparagraphs of Article 58 of the Transitional Administrative Law. Specifically Article 58 states:
A. The Iraqi Transitional Government, and especially the Iraqi Property Claims Commission and other relevant bodies, shall act expeditiously to take measures to remedy the injustice caused by the previous regime’s practices in altering the demographic character of certain regions, including Kirkuk, by deporting and expelling individuals from their places of residence, forcing migration in and out of the region, settling individuals alien to the region, depriving the inhabitants of work, and correcting nationality. To remedy this injustice, the Iraqi Transitional Government shall take the following steps:

1. With regard to residents who were deported, expelled, or who emigrated; it shall, in accordance with the statute of the Iraqi Property Claims Commission and other measures within the law, within a reasonable period of time, restore the residents to their homes and property, or, where this is unfeasible, shall provide just compensation.

2. With regard to the individuals newly introduced to specific regions and territories, it shall act in accordance with Article 10 of the Iraqi Property Claims Commission statute to ensure that such individuals may be resettled, may receive compensation from the state, may receive new land from the state near their residence in the governorate from which they came, or may receive compensation for the cost of moving to such areas.

3. With regard to persons deprived of employment or other means of support in order to force migration out of their regions and territories, it shall promote new employment opportunities in the regions and territories.

4. With regard to nationality correction, it shall repeal all relevant decrees and shall permit affected persons the right to determine their own national identity and ethnic affiliation free from coercion and duress.
This iReport will not go into all the details associated with the implementation of Article 58 of the Iraq Constitution but this report will set forth herein that all the conditions have been met for the Iraqi people to be compensated as their constitution so dictates but it is world politics which are holding this process up. So the point of this report is to inform the people of Iraq and the world who have invested money towards the rebuilding of Iraq in buying their currency that the issues of personal gain from world politicians are now the cause for the continued suffering of the Iraqi people and those individuals who have invested time and money to support the rebuilding of Iraq during their restructuring.
The Iraq government has set aside Billions of Iraqi Dinar to compensate its citizens for the hardships incurred of previous governments. The Head of the Kirkuk branch of the Article 140 Implementation Committee says the compensation cheques will be distributed next week. Kakarash Sidiq said, “The compensation cheques were to be distributed when the budget was approved, but due to some problems it was postponed until next week.”
Why is it important we know this? It is important for all of us to know that the Iraqi people are suffering still and will continue to suffer until the politicians around the world finish their personal agendas to further their individual wealth by claiming ownership to Iraqi Dinars through various means from other individuals and governments who have rightful ownership. Furthermore, it is important as United States people to understand that our government owns several Trillions Iraq Dinars. In fact, it has been confirmed through independent third parties conversations with US Congressman that the United States Treasury holds more than three (3) Trillion Iraq Dinars.
The International Monetary Fund as well as world governments announced some time ago that with the release of the new world banking regulations – BASIL III – that world currencies would go through a shift in value. In fact, almost 200 nations have approved this process. This process of revaluation has been approved now for a couple of months and it is in the political positioning of individuals which has held the implementation of this revaluation to take place.
Besides the issue of not allowing the Iraqi people to receive the personal wealth owed to them we should look at the intended purpose of the Trillions of Dinar which the United States government owns. What are these to be used for? As United States citizens whose tax dollars were used to pay for this war it would be more than appropriate that the United States citizens require the use of the conversion of these Iraqi Dinars to pay for the US Debt associated with the Iraqi Wars and the balance of which be returned to the United States citizens who sacrificed their hard earned money to pay for this in the form of a tax dividend.

Iraq not eligible for WTO at this time due to lack of exports and laws, says Economic and Investment commission

Posted: April 8, 2013 in Iraqi Dinar/Politics
Tags: Baghdad, economy, General Agreement on Tariffs and Trade, Iraq, Khelil, World Trade Organization, World War II, WTO
Baghdad (news) .. Reported decision of the Commission of Economy and investment MP / coalition of Kurdish blocs / Mahma Khalil, that Iraq is not eligible for to the World Trade Organization because of non-activation of laws important economic and absence of local product.

Khelil said (of the Agency news): There is international support for Iraq to this organization World but to what avail Affiliate and the country lacks the domestic product and supported on imports in the class basis.

added: that the world trade will open horizons of cooperation with all the developed countries and enhance trade exchanges, when Iraq now in the absence of legislation important legal Kaltarifah customs and protecting local products and the lack of national product would hurt Iraq will not benefit him.

More at link

[link to thecurrencynewshound.com]

Shabibi's coming back, y'all!

[link to www.alsumaria.tv]

Alsumaria News / Baghdad
confirmed CKD Iraqi Central Bank Governor Sinan al-Shabibi issued an arrest warrant, on Wednesday, he heard dropping the charges against him, pointing out that he awaits notification formally in order to return to Iraq. Shabibi said who is outside Iraq in an interview for "Alsumaria News", "It heard the decision to drop the charges against him, but did not reach a formal letter of resolution so far," noting that "can not return to Iraq until it is notified formally." He Shabibi he "will return if notified," stressing the need to "drop the charges for Bank staff and employees because they staff أنزه ", as he put it.

Last Edited by Revbo™ on 04/10/2013 10:43 AM

Qi cards are being distributed, too. Finally.

Yota691:
As soon they see these Card Load it all Done ...JMO Thanks easy



Term Press / Baghdad
Announced the company's global smart card (for Card), on Sunday, to resume issuing cards after a hiatus of two months, and confirmed that it will adopt a system of "Fingerprints and the eye," in the "second generation of smart cards," adding that "a lot of updates adopted in the new version , "and that" all Iraqis will be able to issue their cards. "

A statement by the Executive Director of the company, Thaer Awad, received (long-Presse) a copy of that "(Ki Card) began Sunday issue cards, after I stopped for two months because of update operations, where we have completed the transition from the first generation to the second," noting that " second generation depends iris and hand, as well as the fact that the Fingerprints exceeded the problem of weak hand footprint by 90%. "

The statement said that "in order Card became allows the agent to get a special card, that are linked card originally same bank account," noting that "the new card include in addition to salaries, set other services, including shopping, and a partial withdrawal, and money transfer, and deposit ".

The Thaer in his statement that "all Iraqis will be able to issue cards for, even if some of them is not within the categories covered," noting that "three branches only begun the process version, a paradise and Mansour and dignity, that is version in all other branches, in X of this April. "

Mentioned that the company (Key Card) provides service to withdraw funds via smart cards are supported from the government and banks benefit from the services of many of the social strata that charge paid using company cards, such as employees of a number of institutions, retirees and journalists.

It is noteworthy that the introduction of the smart card in Iraq seemed the end of 2008, to facilitate the exchange monthly salaries and deduct appropriate card holder out of his salary so he can save the rest in the account, and include personal information integrated utilized to eliminate fraud in the receipt of salaries, and adopted the card two years two in the distribution of salaries of retired civilian and military personnel, and covered by a network of social protection.

The smart card that rely on personal footprint bearer and includes an integrated personal information utilized in the eradication of fraud in the receipt of salaries, and in facilitating the disbursement of monthly salaries and deduct appropriate card holder out of his salary so that he can rest in savings account.

[link to www.almadapre...جيل-الث&#​1575;ني-بعد-]

Read more: [link to dinarvets.com]

But, will he get his old job back. Isn't someone else in the position?

That's a good question. Abdel Bassit Turki is there now, many say illegally because he's also chairman of the Board of Supreme Audit (BSA), which is a conflict of interest for him because BSA oversees CBI. Turki is just the acting CBI governor, so Shabibi could still slide right back into his old role. I can't imagine any reason he would want to go back to Iraq other than to finish what he started, at least in an advisory role, if not back in the governor's chair. Shabibi is an old man, and really, more Swiss and British than Iraqi after so many years outside the country. He's certainly not going back to retire. It's hot as hell in Iraq, and there's nothing to do there.

Last Edited by Revbo™ on 04/10/2013 11:36 AM