Post Brought From Dinar Updates
TLAR - Guys hopefully we should see the RV this week and then you will get my thoughts and an explanation. I am excited by what’s going on behind the scenes but can’t say anything yet. ~ Tlar
BGG & Chattels - 1203 was the market price reported yesterday, it is 1201 today…less is more and closer to the 2% variance supposedly desired by the IMF . Wow!! More good news. That is big.
First time that has happened. The published “market rate” is what is dropping – not the 1166 (auction rate)… the fact that the market rate and auction rate are getting closer together is pretty good news…
This is one of the precursors put forth by the IMF before Iraq can gain entrance to article 8 – and international acceptance. first two days it is realistic…which doesn’t absolutely mean it will happen tomorrow – just that it CAN.
[So they are now in compliance or close to it?] as I understand it – today they are. I would suspect the IMF wants to see some stability at such a marker – JMHO.
Millionday - [Pressure is building to an eruption…the stars are lining up...] ALL AT ONCE AS WE KNEW THEY WOULD HAVE TO — THEY NEED TO HAVE IT ALL PREPARED --
NOT THAT BUMPS WONT BE IN THE ROAD BUT THEY ARE DOING EXACTLY WHAT WE WOULD EXPECT IN THE ORDER WE WOULD EXPECT. THE NEWS IS SO POSITIVE.
I HAVE TO SAY TO HEAR ABOUT THE CHANGE COMING ECONOMICALLY SINCE THEY HAVE BEEN SITTING SINCE THE 90`S HAS ME VERY EXCITED.
ABOUT 4 YEARS AGO SALEH STATED THAT THE CURRENCY WOULD BE RETURNED TO AROUND WHAT IT WAS IN THE 80`S – I KNOW YOU LONG TIMERS REMEMBER THAT.
EVERYTHING IS A HUGE HURRY AND THE HELP THEY NEED FROM MANY COUNTRIES IS THERE. THE GLOBE IN NEEDING THIS EVENT…
Poppy3 - [Your very first post...after your stroke...said rv next week (this week). Do you still feel strongly about that?] I STATED THE SOURCES FELT THE LAST HALF OF THIS WEEK WAS LOOKING GOOD PROVIDED ALL THE MEETING AGENDAS CONTINUED TO BE MET AND MUCH OF IT HAS.
I SEE THINGS HAVE CONTINUED TO MOVE IN OUR DIRECTION AND I AM VERY IMPRESSED THAT THEY ARE GETTING SOLID THINGS DONE AND EVEN DR SHABIBI IS THERE WORKING IN OUR BEHALF.
I THINK WE ARE AT A DAY BY DAY POSSIBILITY BUT STILL NO ONE KNOWS FOR SURE AND NEVER WILL IN ADVANCE. WE LOOK GREAT AND ARE IN A GREAT PLACE.
Stryker - Exchange Rate Update: The Market Rate of the Iraqi Dinar dropped to 1203 today from 1212 after dropping from 1217 on August 19th. This means that Iraq is heading closer to the 2% target rate the IMF says is needed for currency reform.
It looks like that with the daily auctions at and well over $2 million per day it will not take long to get to the target rate that the IMF has stated Iraq needs to be at to implement currency reform. Target rate needs to be within 2% of the de-facto CBI rate of 1166 and the market rate, and as you can see a 14 dinar drop just since August 19th is a great start.
Iran Overestimated Role in IS Fight
The dust from the Islamic State’s attack on the Kurdistan Region has finally begun to settle, giving us a clearer picture of what occurred…
…Barzani can now say that he is fighting terrorism on behalf of the world and that he is receiving arms and support from the international community. Indeed, it was his dream to acquire weaponry.
It seems that Iran, however, didn’t take into count global support for the Kurds. Tehran must have assumed it would lead the war against the IS as a regional power, but it was wrong… Continued:
Iran Overestimated Role in IS Fight By REBWAR KARIM WALI
The dust from the Islamic State’s attack on the Kurdistan Region has finally begun to settle, giving us a clearer picture of what occurred.
What we now know is that Iran was the first country to send weapons and artillery to stop the extremists’ advance into Makhmur.
But why Iran? And why weren’t Iranian Kurds allowed initially to join the fight against the Islamist militants? Why is the Kurdistan Workers Party (PKK) — which was hiding in the mountains until it joined the fight against the extremists —roaming freely around Iraqi Kurdistan now?
From the start of the Islamic State’s (IS/formerly ISIS) attack on Mosul in June, Iran put Kurdish parties under pressure to fight the Islamist radicals. The Patriotic Union of Kurdistan (PUK) was happy to join the fight, but the Kurdistan Democratic Party (KDP) was reluctant.
The message President Massoud Barzani gave the Iranian envoys to Erbil was: “This isn’t our war and we don’t want to get involved in it.”
But it was a war, and the Kurds’ involvement was inevitable.
At the outset, Shiite leaders talked big by calling up militias and making speeches declaring an imminent victory. The Americans and top Shiite clerics warned of a Shiite-Sunni war that could destroy the Middle East.
Iran, meanwhile, removed outgoing Prime Minister Nouri al-Maliki from office and didn’t let the war disintegrate into a Shiite-Sunni fight.
Iran turned the war against IS into a broad-based battle. If the Kurds hadn’t joined the fight, it would have remained a religious war and not a war on terrorism as it is now.
Iran and the PKK pulled one over on the KDP and the Change Movement. It is believed that some in the KDP were in favor of appeasing Iran and joining the fight.
Yet Kurdistan Regional Government (KRG) Prime Minister Nechirvan Barzani’s silence on this issue raises questions. More than anyone else, the prime minister and the Minister of Peshmerga Affairs, Mustafa Sayid Qadir, have been quiet regarding this extraordinary situation.
It is true that America and Iran got the Kurds involved in this war, but each side made calculations of their own that didn’t necessarily work out as they had hoped.
Barzani can now say that he is fighting terrorism on behalf of the world and that he is receiving arms and support from the international community. Indeed, it was his dream to acquire weaponry.
It seems that Iran, however, didn’t take into count global support for the Kurds. Tehran must have assumed it would lead the war against the IS as a regional power, but it was wrong.
For their part, the PKK and PUK used the situation to flex their muscles against the KDP and claim that they saved Kurdistan from IS.
Iran did manage, once again, to give the Kurdistan Region’s politics a violent shake. Despite the initial push for independence after IS invaded Mosul, the Kurds now seem far less enthusiastic about creating a Kurdish state. Rudaw.net
BGG - Market dropped to 1203 today – BIG FINANCIAL NEWS…puts them well within the required 2% range. [Now it can happen at anytime, right?] numbers wise – yes…the advertised and “market rate” can have no greater than a 2% difference and still be in compliance with IMF requirements to proceed to next status (article 8 – international acceptance). For all practical purposes – they are there…it appears as though they are getting their financial house in order for something.
Follow us on twitter @DinarUpdates !!
Stop in for “NEWS TIME” with Millionday - Wed. evening on CHAT at 7:30pm EST!!
www.DinarUpdates.com - save as favorite!!
Kaperoni - Article: “Central action keeps the money of depositors and shareholders“ This is a good “pat on the back” article as they say they have done a good job stabilizing the dinar/reducing the spread of late and implementing new policies and procedures with the auctions.
I like how they end it in essence saying…despite this accomplishment, they have more work to do. Yes…we are waiting on that. …they probably have fulfilled the IMF requirements and are in compliance now. That does not mean they will request Article VIII tomorrow.
In fact, the IMF may make them demonstrate they can sustain it for a period of time as well as they still need to form the GOI, pass stalled economic and banking laws and get some stability regarding the ISIL threat. So it still could be a while. But today is a good day.
Breitling - After WWII did Japan and Germany have an advantage by a lower currency? Yes Absolutely. Why would Iraq raise their currency? Wouldn’t that take away their advantage?
They stated they wanted to make the IQD a world reserve currency and wanted their people to compete on a global scale. Yes they needed to lower the currency…that’s why we were able to buy it for a 10th of a penny…during the restructuring phase. Why is Iraq going to raise the value of their currency?
Because it’s only worth a 10th of a penny…sooner or later they have to increase it or their people will not be able to compete on the world stage. For Iraq to get to the next stage they have to give their people purchasing power…
The CBI needs the people of Iraq to have purchasing power to rebuild their infrastructure…so the people can bring home money from other countries in the region and start businesses etc…then we’ll watch the country and wealth explode…it’s going to be fantastic.
Arthur - We now know from the various meetings and PM Designate Abadi press conferences that the negotiations between the blocs are “positive and constructive”; especially important and positive are the ones between Baghdad and Kurdistan.
Although the seating of the COM (Council of Ministers) is an important and necessary step, the most critical element of the political and economic stability compulsory for a potential currency revaluation is the HCL (Hydrocarbon Law).
There is no way for oil officials in the provinces to rationally manage their particular sectors without this understanding between politicians and their parties therefore it would be virtually impossible to begin economic reform in earnest without this crucial contract since without it there could be no fair distribution of the countries enormous wealth potential…
The lack of this Law has also caused a possible split between Kurdistan and Baghdad which would be catastrophic for our investment.