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Official Central Bank of Iraq (CBI) Dinar Rate:
1166 IQD to 1 USD
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8-30-2014 Newshound Guru Blueyesinlevis Abadi, Hakim, Joubari, Masum... they are all doing it by the book...step by step...line by line...day by day. Love that it is not "Power Sharing" between 2 ego maniacs...but a broad based, constitutional, well designed, specific, detailed, inclusive, apparently binding roadmap. Very encouraging.
8-30-2013 Intel/Newshound Guru tman23 The CBI Board of Directors are the major decision makers in regards to revaluation. If you follow the CBI board you will find many of these decision makers come from Trade Bank...And if you follow Trade Bank you find that JP Morgan is overseeing operations...And if you follow JP Morgan you find that they are directly connected to the UST in regards to currency distribution. The UST has a division called the ESF (exchange stabilization fund). This think tank basically is the architect of world economies in regards to exchange rates etc. If what we are speculating on becoming reality, then you can bet your last dollar the ESF...UST is a large part of making that reality happen.
8-30-2014 Newshound Guru Kaperoni Article: "Central Bank being a set of enhancements to the currency to protect them from fraud" This article above clearly says they want to start releasing the new 10,000 notes by the end of the month (August)... Do you really think some overnight RV is about to happen when they have not even replaced the existing currency in circulation that they just spend millions of dollars reprinting to help strengthen monetary policy within Iraq? Of course not. ...I am a realist and the fact is we must continue to wait for the other pieces to be in place before they can open the banking system to the world.
8-30-2014 Newshound Guru Millionday the huge point with the last two reports we have seen is that abadi has stated that with the announcement of the gov formation comes the economic reform entirely.
8-30-2014 Newshound Guru Chattels [when does government get in place? Is this still delayed?] the constitutional " deadline " was and is September 9/10, depending upon which article you read/believe, there has been no change or delay with such. the PM - designate, the ministers and the ministerial program (government framework, National Paper, etc.) is voted upon by the Parliament all at once...it should be done by the 9th, is my thinking, it seems very important to all that the constitutional deadline be honored at a minimum.
8-30-2014 Newshound Guru Millionday THE BUDGET IS SUPPOSED TO BE APPROVED WITH THE HCL ARTICLE 140 AND THE FEDERATION COUNCIL AT THE SAME TIME ACCORDING TO REPORTS BUT WE HAVE TO WATCH THE ACTION TO SEE WHAT HAPPENS.
8-30-2014 Intel Guru SteveI This was on Iraqi TV and we want to share. To clear up the confusion, here is the latest facts: Two of the ministers are being contested by a representative from Najaf and wants them replaced. The minister of health and the minister of utilities. The President of Parliament is giving them two more days to be replaced. Then on September 2, the official list of ministers will be released to the media and the people. Then on September 3, the Prime Minister and all his ministers will be sworn in. The ministers will officially start their jobs September 7. The budget is supposed to be brought up before Parliament after September 3. It could be September 4th or 5th or any day after that.
8-30-2014 Newshound Guru Tlar Some Ministers may be in dispute but those will be resolved. The platform is a series of pre-agreed solutions to big issues (promises in writing) with known outcomes such as the resolution of the HCL and its agreements and article 140 and its resolution. That will guarantee the Kurds and the Sunni's will get what they want and will support this government. They can't get everything done all at once and some things they can't even start until there is a new COM in place which means a seated government. This agreement in writing is the roadmap that they have all promised to follow. Everyone will sign it once the negotiations are done. Once the agreement is done they will register it with the court. It provides that warm fuzzy for everyone including the CBI and removes the element of trust. It also guaranties that the vote will be in favor of the government of Abadi. If this document is signed sealed and delivered and all parties feel good about it, the CBI will figure the voting in of the government is a slam dunk even if it takes a little more time do to some disqualifications of submitted Ministers. The CBI needs to get going now. [reference Tlar's post 8-29-2014]
Below are the latest guru updates from late last night and yesterday...be sure to check them out before you leave...
8-29-2014 Newshound Guru Millionday ABADI HAS ALWAYS STATED THAT HIS GREATEST IMPORTANCE IS TO APPLY THE POWER SHARING GOV. HE HAS UNTIL THE 9TH AND HAS MADE IT CLEAR THAT HE WILL NOT TAKE THAT LONG. HE IS SAYING THAT WITH THE ANNOUNCEMENTS OF THE MINISTERS AND FULFILLED GOV ALSO THEY WILL RELEASE THE ECONOMIC REFORMS AND ALL OTHER REFORMS AS WELL. THE BANKING REFORM AND ENTRY TO THE INTERNATIONAL MARKET WILL REQUIRE A NEW RATE OR A REALITY RATE FOR TRADE...VERY EXCITING TIME TO SAY THE LEAST.
8-29-2014 Intel/Newshound Guru tman23 [can u share your opinion on how close u think we are?] I was told in July...that Aug 22nd would be the date of interest regarding financial change... I never expected to see a RV mid month and always thought it would more likely start at the beginning of a month...so I wait in anticipation for 9/2.
8-29-2014 Intel Guru TNT Tony [via Adept1] In Iraq they do things in the dark of night, so that they are not public, so that people cannot anticipate everything in the government or the currency. Many agreements have been made, and they will come out at the same time or within 24 hours of each other. Nobody thinks they actually spent all night voting on all this stuff. They are just saving it for the opportune time just before or after the RV. This is all about Iraq, the announcements they made today and throughout the weekend, they and we are expecting great changes. Monday is a holiday, and Tuesday will be a new beginning.
8-29-2014 Newshound/Intel Guru BGG I got the text from Poppy that he was back in ICU. Mostly for observation. He should be out tomorrow. Let's just keep him in prayer for speedy recovery...
8-29-2014 Intel Guru DC [via Adept1] Bottom line is Iraq looks phenomenal. The full GOI was formally seated and announced yesterday evening in the 11 oClock news, at the mosques and other places. Everyone is getting really happy. There are plans throughout the country and the next question is “where is our RV?” I think it’s pretty close behind it, with plans being executed as we speak to prepare for the change in rate RIGHT NOW. The expectation is that the RV is coming shortly...with the US and the world ready to handle exchanges.
8-29-2014 Intel/Newshound Guru tman23 A US Court on Monday upheld a request to the Kurdistan Regional Government to cancel the request by the Government of Iraq to US authorities detain Kurdish oil shipment. But the Court awarded Baghdad ten days to resubmit the request for booking...(The 10 day period for Baghdad to submit an appeal to the courts ends on Sept 3rd...And at which time there will be a new minister of oil for Iraq...More coincidental timing ? I think not ! )
8-29-2014 Newshound/Intel Guru Arthur In the unlikely case the Council of Ministers does not win the vote of confidence, the President of the Republic Foad Masoum will charge another nominee to form the Council of Ministers within fifteen days in case the Council of Ministers, but as far as we know as of now, we have every indication that he will get the vote of confidence from an absolute majority of the COR within the deadline thus completing the formation of the new Iraqi government. [post 2 of 2]
8-29-2014 Newshound/Intel Guru Arthur So to officially clarify the Iraqi government formation process as stated in their constitution, Prime Minister-designate Haider al-Abadi will present the names of his members of the Council of Ministers and the ministerial program sometime between now and the constitutional deadline of 9/11 to the Council of Representatives. He is deemed to have gained its confidence upon the approval, by an absolute majority of the Council of Representatives, of the individual Ministers and the ministerial program. [post 1 of 2....stay tuned]
8-29-2014 Newshound Guru Aggiedad77 Article: "Interim Commission for approving the budget confirms that the law is still in parliament and did not send it to the government" What was it maybe a week ago we heard news that the budget had been sent back to the government...to Maliki's government...let's get real...but now today we read that the Parliament has had the budget all along...IMO...the Parliament is probably doing a good thing...stalling on the budget at this point...waiting to get the new government seated...then they will present to the new GOI what they believe is a workable 2014 for what is left of the year...this has been formulated and is ready for presentation...they just want it put before the correct GOI...one that has been been corrupted by years of bad leadership.
8-29-2014 Intel Guru EXOGEN Erbil announces it has become free to export oil to the United States. THIS IS ULTRA MEGA GIGANTIC! DO YOU SMELL OIL CREDITS?
8-29-2014 Intel Guru Tlar Quote: "So as long as these documents are signed and they are registrared with the courts, the CBI will consider the government formed and the plan is to pull the trigger before our Tuesday (their Monday night)." Make sure you understand that if for some reason these documents do not get signed and they can't come to agreement, that may substantially change the plan. I don't anticipate a problem but who knows, "this is Iraq".
8-29-2014 Intel Guru TerryK IM STILL HEARING WE ARE GOING TO SEE THIS BETWEEN NOW AND THE 31ST. 2.21 AND 8.16 IS WHAT IM GETTING. [Reference TerryK's post dated 8-26-2014 regarding rates.]
8-29-2014 Newshound Guru tlm724 Article: "Paradise negotiating alliance: the formation of the government will be completed during the next 48 hours" the formation of the government will be completed during the next 48 hours *hallelujah*
8-29-2014 Newshound Guru Kaperoni Article quote: "the work of the national committees to complete their work before the end of the constitutional term of 10 days." Looks like by end of next week they should be close to being sworn in. As well, the new Finance/Economic committees will be formed next Tuesday...
8-29-2014 Intel Guru TD Abadi a PHD and having an engineering background is very calculating in his approach and will gel the state, revitalize the economic reform programs and eventually help all Iraqi's with a better standard of living. All in due time and my contact indicates all this will play out over many months to come. But at least they have hope and determination. The BIG WRENCH in all this is indeed ISIS and the security situation. Abadi, Turki and others will move in a responsible fashion as the dust settles BUT THIS IS A SLOW MOTION PICTURE OCCURRING IN REAL TIME. [post 2 of 2]
8-29-2014 Intel Guru TD Comments to share from my Kurdish friend today: While there is considerable progress being made in formation of a new government it is NOT yet complete. It should by all indications be named (cabinet members) few days before the deadline. Then Parliament must vote and approve everyone and at this time getting the (moderate) Sunnis on board with all remains incomplete. Masum is reaching out daily to Sunni leaders to get on board. The alternative of an ISIS state for moderate Sunnis is frightening so chances look good but the Sunnis really want a BIG PART OF THE ACTION. [post 1 of 2....stay tuned]