Don: Delta: Sunday, saw, no more auctions. CBI rate every day spreadsheet market prices, Confirmed 100% no more auctions. Cash and wire transfers before. They have no dollars, no liquidity. Have to have no dollars to cover. Have Dinars. Cannot use that money, need that as capital, Acting gov. of CBI. Mis-translation of that article. Is not leaving. Expecting CBI CANNOT LAST MORE THAN A WEEK WITHOUT AUCTIONS.
G T > Don There hasn't been any PUBLISHED AUCTIONS since The 19th
Sqwatchy LOOKS LIKE SOMEONES OPENING THE BUDGET FOR DISPERSEMENT. MOVING RIGHT ALONG!
Urgent ..cil Minister approve the allocation of two billion dinars by the Ministry of Finance to the Ministry of Youth to support national teams
Baghdad: Euphrates News} Council of Ministers approved in its regular, on Tuesday, on the allocation of two billion dinars by the Ministry of Finance to the Ministry of Youth for the purpose of supporting the national team during the 2015 allocations outside the ministry and unions on payments and subject to availability Alsjulh..itba
Sqwatchy > I am not implying a rate change with tis, I am bringing the point that they are digging into financial allocations, which means they are opening the budget up...which in turn, will mean having to fund what they are allocating.....
OilRat February 24, 2015 at 8:26am This is what I said on Sunday and Delta and Nova is confirming my thoughts.....with no auctions, the CBI is in its final stages of RV.
Not trying to toot my own horn, but rather to give confidence to all that we really are at the end of this ride....blessings to all !!!!!
2-23-2015 Delta CBI will fund Budget by...de-dollarizing with lower denoms...removing remaining USD for lower IQD's...and to do so the rate must change... Date...in the still of the night; on a Tuesday or a Thursday.
2-23-2015 NOVA There is only two choices for the CBI, because as of yesterday the value of the IQD IS ZERO!!! No Auction and No Exchange Rate. That Tells Me The Value Of The IQD IS ZERO. SO THEY EITHER START THE AUCTION AGAIN AND SET A BUY /SELL RATE OR GIVE US THE EXCHANGE RATE. WHICH ONE DO YOU THINK THEY’RE ABOUT TO DO? We Really Are At The End!!
BlueEyedGoddess > OilRat Why a Tuesday or a Thursday?
Hale Ali'i > BlueEyedGoddess Those are the days they have been saying all along. Works best for everything to coordinate I guess. Also, historically RV's happened on a Tues or Thurs.
OilRat > BlueEyedGoddess That's his quote.....not sure, but I would say, that without auctions there are NO liquidity in iraqi banks.....so it would seem that the change must happen pretty quickly.
Tim > OilRat Quote "in the still of the night; on a Tuesday or a Thursday"
Maybe by tomorrow morning That would be quick ya.
Iko Ward: Current Events 8AM EST
Based on current news reports, the Kurds did not show up. Barzani is saying the budget is passed, it's published, and we aren't coming back to parliament until we see the money.
Abadhi is saying we'll give you the money but please come back to parliament so we can show solidarity to the world? The PTB wants to see this solidarity as well, which is why they put the brakes on this weekend.
What we are seeing is centuries of mistrust being played out before us.
As of this moment there are enough ministers to have a quorum. The question is, will they make a motion to implement the budget and get this going. The whole world is watching.
RVAlready: As DC said, nothing in Iraq today is necessary. If Abadi does or does not get what he wants in parliament today, I think he will pull the trigger very soon. I doubt they can wait longer.
Karen: RValready it looks like he got what he wanted they had enough people to vote just no Kurd's and they won't be happy until the RV is done
DRL: Based on current news reports, the Kurds did not show up. Barzani is saying the budget is passed, it's published, and we aren't coming back to parliament until we see the money.
DRL: Abadhi is saying we'll give you the money but please come back to parliament so we can show solidarity to the world? The PTB wants to see this solidarity as well, which is why they put the brakes on this weekend.
DRL: As of this moment there are enough ministers to have a quorum. The question is, will they make a motion to implement the budget and get this going. The whole world is watching
Ivan Tulifitov: drl they adjourned til THursday Baghdad (AIN) –Parliament adjourned its session to next Thursday after condcting first and second reading for five laws.
Sterling: Reserve Bank of Zimbabwe said they revalued the ZIM!
Here is the article, posted on February 23, 2015:
"The five U.S. dollars is the minimum but we're going to be using the United Nations rate of one U.S. dollar to 35,000 Zimbabwe dollars. We have revalued it from one U.S. dollar to 35 quadrillion dollars," Mangudya said. "<< Reserve Bank Zimbabwe Governor John Mangudya.
Read the article. It brings up some interesting questions.
R601: Interesting ...Great find - thank you!.
XE CURRENCY - 24 Feb - 4.00pm EST Australia
1 ZWR = 0.131926 USD 1 USD = 7.58000 ZWR - Zimbabwean Dollar - As seen from the USA.
1 ZWR =0.167215 AUD
1 ZWD = 0.00276319 USD 1 USD = 361.900 ZWD - Zimbabwean Dollar - As seen from Australia
1 ZWD =0.0036 AUD
That, folks, is one heck of a difference in value!
This is the page source code for the XE currency conversion page section handling the currency drop-down selection options ..
No ZWR option is coded into the page able to be seen from Australia ???
Zimbabwean currency Revaluation
Zimbabweans to be compensated fully as local currency is demonetized
HARARE, Feb. 23 (Xinhua) -- The Reserve Bank of Zimbabwe (RBZ) will use the rate of one U.S. dollar to 35,000 Zimbabwe dollars as it moves to demonetize the local currency and compensate account holders who lost their savings when the government introduced multi-currencies in 2009.
RBZ Governor John Mangudya told Xinhua in an interview Monday that everybody who had an account as of December 2008 would be awarded a blanket five U.S. dollars per account regardless of whether or not there was any credit in their bank balances.
Mangudya's comments allay fears that had beset the banking public which suspected that the RBZ wanted to credit the accounts with only five U.S. dollars and disregard the balances in the accounts at the time of the introduction of the multi-currencies.
The Confederation of Zimbabwe Industries also issued a statement recently urging the RBZ to fully compensate account holders.
"The five U.S. dollars is the minimum but we're going to be using the United Nations rate of one U.S. dollar to 35,000 Zimbabwe dollars. We have revalued it from one U.S. dollar to 35 quadrillion dollars," Mangudya said.
"This explains why the figure (to demonetize) has risen from the initial six million U.S. dollars to 20 million dollars," he added.
Former Finance Minister in the inclusive government Tendai Biti had indicated that six million dollars would be required to compensate account holders affected by the abandonment of the local currency in favour of mainly the United States dollar and the South African rand.
Other currencies acceptable in the banks are the Australian dollar, British pound sterling, Botswana pula and to a limited extent the Euro, Indian rupee, Chinese yuan and Japanese yen.
The local currency was literally made moribund in 2009 when the government sought to arrest runway inflation which then stood at 231 million percent at the last official count, even though unofficial figures put it at 4 billion percent.
To cope with inflation, the RBZ redenominated the Zimbabwe dollar in 2006, 2008 and 2009, with the highest being a 100 trillion dollar banknote printed on bond paper after the German company which used to supply it with the special paper stopped doing so because of economic sanctions imposed on the country.
The central bank would also occasionally slash the zeros from the notes amid concerns from businesses that the many zeros were crashing their computer systems.
The demonetization of the local currency will be completed by June 30, 2015, allowing many people who had stashed the Zimbabwe dollar in its various denominations to finally discard it.
Ie - The old currency will have no value past June 30 2015.
OK Rocks: I COULD BE WRONG BUT IT SOUNDS LIKE ITS VARIOUS DENOMINATIONS WILL BE INCLUDED FOR THOSE WHO STASHED THEIR ZIMS....OR DO THEY MEAN NO LONGER VIABLE
SandyF: There is probably some truth in it.
"we're going to be using the United Nations rate of one U.S. dollar to 35,000 Zimbabwe dollars. We have revalued it from one U.S. dollar to 35 quadrillion dollars,"
35 quadrillion(35 x 10 to the power of 15) is revalued to 35 thousand(35 x 10 to the power of 3)
Revaluation factor is 10 to the power of 12, this is the same as ZWR to ZWL.
It would appear that they are going to compensate account holders on the basis of ZWL holding as opposed to ZWR, balances in Dec 2008 would have been in ZWR.
The 100 trillion note is worth $100 as ZWL
jdtolle » February 24th, 2015 Keep yourself accomplishing
Keep yourself active, and make all that activity count for something. Keep yourself active, and keep yourself accomplishing.
Before you devote your valuable time to anything, consider what it will actually accomplish. Invest your time in purposeful, meaningful activities, not in empty busyness.
It’s great to stay busy. It’s much more advantageous, though, to have something to actually show for being so busy.
A moment wasted can never be regained. A moment spent in meaningful accomplishment, however, can extend its value indefinitely.
You have more than enough time to achieve whatever you choose, if only you will respect and make full use of the value of that time. Step back, look at what you’re doing with your time, and remind yourself it is among your most valuable assets.
With the time available to you, keep yourself accomplishing. Let go of the meaningless, wasteful pursuits, and exchange your time for the rich, wonderful life you deserve.
Ralph Marston Wishing All a safe and blessed day JDT