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DINARESGURUS.BLOGSPOT.COM_________________ _______

Wednesday, March 13, 2013

5 CONFIRMS THAT THE RATE IS ON THE SCREENS, 13 MARCH

TERRYK  03/13/2013 @ 6:40 PM EST 
[TERRYK] SO WHAT IF I TOLD YOU I JUST GOT A CONFIRMED THE RATE IS HAS BEEN SEE ON THE EAST COAST TONIGHT
]TERRYK WHAT IF I TOLD YOU I HAVE A TEAM THAT HAS 5 CONFIRM'S THAT THE RATE IS ON THE SCREEN'S
[schobee]    bring it 
[TERRYK] WF
[TERRYK] WHAT IF I TOLD YOU WE WILL EXCHANGE IN THE MORNING
][TERRYK] I WOULD SAY I WOULD BE DREAMING
[Dee1031] TK you sound excited
[TERRYK]    
[TERRYK] NO JUST KIDDING THIS IS FOR REAL
[TERRYK] HAVE GOTTEN LIKE 7 CALL'S THIS AFTERNOON
[TERRYK] TELLING ME THIS
[TERRYK] I WENT TO MY LOCAL 5TH 3RD
[TERRYK] THEY SAID THEIR IS ACTIVITY BUT THEY COULD NOT DISCLOSE ANY INFORMATION
[TERRYK] YES BANK PEEPS AT WF MUCKY MUCKS
[TERRYK] SORRY PHONE
[TERRYK] IT'S FROM A SOLID SOURCE
[TERRYK] IT'S FROM A SOLID SOURCE
[TERRYK] THEY GOT IT FROM THE HORSE'S MOUTH
[TERRYK] I WILL BE BACK IN A FEW
[TERRYK] GETTING READY FOR A CALL
[TERRYK] BUT ALWAY'S TREAT AS RUMOR
[TERRYK] DAMN GOOD ONE AT THAT
[TERRYK] I WOULD BE SURE TO BE ON THE CALL TONIGHT FYI
[TERRYK] BECAUSE I SAID SO DEE
[TERRYK] IT WAS CONFIRMED TO ME 
[TERRYK] ALL MY STUFF IS RUMOR
[TERRYK] UNDERSTAND
[TERRYK] RATE'S ARE WHAT THEY ARE BUT HAVE NOT CHANGED

OCRUSH & STEVEI UPDATE, 13 MARCH


From OC:

Hello,  Just a reminder on the pay scale.

This is what happened in 2004 (march 18th when it took effect) retroactive Jan 1, 2004:)

http://govinfo.library.unt.edu/cpa-iraq/budget/March_Salaries.html

And the article below shows the 2013 budget includes amendments to the salary scale:

http://alliraqnews.com/en/index.php?option=com_content&view=article&id=23261:2013-federal-budget-includes-amendment-to-salaries-scale-&catid=37:economy&itemid=41

We all know from article 31 the 2013 budget is retroactive as of Jan 1, 2013 once its published:)

Cheers:) OCrush

*****************
SteveI reply:
There is on one reason and one reason only for the importance of making this retroactive as of Jan 1, 2013 once its published. If there was no rate change then it would not matter and they would simply open it (budget that is) and start paying it (disbursements). I believe this to be a huge bit of very positive information and very telling as to why all of this is starting January 1st.

By the way, information is getting very hard to come by and things are being kept very secret. Our contacts at telling us that they have never seen this level of keeping things secret. One other bit of news, a very good contact in our US government will no longer take my calls and I was told that if anyone in their department discusses anything about Iraq they will go to prison for a very long time.

My thought was OK, something is going down pretty soon to react like this and it must be pretty darn important to act this way. Let’s just let the powers to be do their job and get this mission accomplished. I think next week could be very exciting regarding many laws and the release of the budget of 2013. Time will tell, so hang in there guys.

Blessings,

Steve

Related Article
18 March 2004
Policy on Payment of Public Sector Salaries in March-April 2004


This policy applies to all State employees and employees of State Corporations and other self financed entities. See below for more details.

Freeze on Hiring and Promotions. In accordance with the August 5 CPA OMB memo, no Iraqi Ministry, agency, company or other government organization may hire employees at a level above the applicable end strength limit for that entity, as approved in the current FY04 National Budget (effective January 1, 2004), except as approved by the Interim Minister of Finance and the CPA Director of Management and Budget under the established procedures. Promotions are also temporarily frozen.

Salary Scale. Salaries will be paid in new Iraqi dinar at the new salary scale, as set out in CPA Order No.30 dated 08 September 2003. All Ministries were funded to implement the new salary scale in January and were supposed have it completed by the end of February. Any ministry that has transferred over to the new salary scale must be able to pay salaries from their salary budget including the additional 40% increase that was distributed by the Ministry of Finance.

It must be understood that all employees did not receive a 40% increase, but rather 40% of the total salary budget was added to cover those employees that will receive more under the new scale.

All ministries must transfer over to the new salary scale as a whole ministry, as opposed to one department or governorate at a time. If the salaries are above the allotted amount then the ministries must redo the placement of employees in the new salary scale, no ministry will be given additional funds for salaries beyond the 40% increase. Employees will continue to be paid at the 4-tier scale until the transfer of the entire ministry is complete.

State Owned Enterprises. Employees of State-Owned Enterprises (SOEs) receiving support from the Ministry of Finance shall be paid at the four-tier scale for February and all subsequent months until a formal decision is made regarding salary levels for employees of State-owned Enterprises.

Any differences in salary, stemming from the formal decision, shall be given as back pay for those months in which the difference was not paid for February and all subsequent months. Any SOE not requiring funding support from the Ministry of Finance may choose to move working employees to the 11-tier pay scale and pay these employees accordingly.

Facilities Protection Service. Effective 01 March all Ministries are responsible for the salaries and hazardous duty pay for their Facilities Protection Service (FPS) guards. Ministries shall submit FPS payroll funding requests to the Ministry of Finance on a monthly basis in accordance with procedures described below. Coalition Provisional Authority Order No. 27 dated 04 September 2003 lays out guidance regarding the establishment and administration of the FPS. All ministries dealing with personnel providing security should refer to the Security Salary Matrix at

http://govinfo.library.unt.edu/cpa-iraq/budget/revisedsalarymatrix.pdf

Back-pay and Recovery of Excess Pay. Employees who have not received their full salary entitlement for the previous six months shall be entitled to payment of the balance. Any double payment or overpayment of previous month’s salaries shall be deducted from February salary payments.
Procedure. All salary payments will be authorized by Ministry of Finance officials, acting in accordance with the established policy, through the Treasury account.

Payments will be executed through the Rafidain and Rasheed banking systems, which act as the agent of the Ministry of Finance. The Director General of Accounts of the Ministry of Finance will issue a circular to all Ministries and Departments setting out the procedure for the payment of March salaries.

To obtain authorization for disbursement of funds for salary payments for both centrally financed workforces and for the employees of State Corporations and other self-financed entities for which they are responsible, Ministries, and their relevant Directorates are responsible for providing the following:

Accounting for previous month payments. Each ministry must provide payroll execution information to the responsible Accounts Departments at the local Treasury Office or Ministry of Finance. Information should include funds received, funds paid out, number of employees in each pay grade that were paid (by directorate) and the balance remaining.

 Unused payroll funds will be redeposited in the bank from which they were withdrawn and a receipt filed with the local directorate accounting manager. If, in previous months, payroll payments were inconsistent with Ministry of Finance guidelines at that time, the Ministries are required to provide relevant accounting of those salaries and emergency payments before additional funds can be released.

Information should include details of any such salary or emergency payments, including a list of names to which the money was paid. The Ministry of Finance should provide details on the previous month’s payroll execution by Ministry to the CPA Office of Management and Budget.

Requests for payment for current month. For administrative convenience, Ministries are to present a single report, and single request for release of funding for all their directorates/spending units, rather than separate requests for different directorates/spending units.

Requests for payment should include a cover letter written on official paper, approved by the three senior officials of the directorate/spending unit and signed by the Director General of Administration and Finance. The request should also include a spreadsheet with the names and grades of the employees to be paid.

If required payroll exceeds that of the previous month, the request for payment must be approved by the CPA Senior Advisor. Any actions that will cause the increase of more than 1% in the pay bill of a workforce over the level paid in August must be approved by the CPA Senior Adviser to the Ministry of Finance before the payroll can be executed.

If the governorate demonstrates responsible payroll practices consistent with Ministry guidance, the Baghdad Ministry of Finance can delegate payroll management to the local branch of the Treasury, provided the Senior Advisor of the Ministry agrees.

Executing payroll. Internal audit sections in each ministry shall review the payroll and salary process for conformity with approved methods for payment by the Ministry of Finance, as well as the integrity of individual payments. In each accounting unit the three person committee shall oversee the distribution of salaries. The names of these individuals will be kept on file at the Agent Bank authorizing the release of funds. A post payment audit shall be performed by the Board of Supreme Audit wherever possible.

The Ministry of Finance shall issue authorization to designated banks to provide specified funds to named representatives of Ministries and Departments to pay salaries. Presentation of this authorization, which may be transmitted electronically, at the designated bank, will release the specified funds to the named representatives for the purpose of paying salaries.
Contract employees will be paid from operating expenses, as provided through the budget, and not out of payroll.

Points of Contact for Further Information:
John Hanley, Advisor, Ministry of Finance, hanleyj@orha.centcom.mil 
Anita Greco Advisor, Ministry of Finance, grecoa@orha.centcom.mil
Brendan Wheeler, Advisor, Ministry of Finance, grecoa@orha.centcom.mil
Brendan Lund, Advisor, Ministry of Finance, , lundb@orha.centcom.mil
John Moore, Advisor, Ministry of Finance, moorej@orha.centcom.mil

 http://govinfo.library.unt.edu/cpa-iraq/budget/March_Salaries.html 
Related Article

2013 federal budget includes amendment to salaries scale

Saturday, 24 November 2012 11:50

Baghdad (AIN) -MP Ibrahim al-Rikabi, member of the Parliamentary Economy & Investment Committee, revealed an amendment that will be done to the salaries scale, stressing that there is no increase in the salaries within 2013 federal budget.

Rikabi stated to All Iraq News Agency (AIN) "2013 budget does not include an increase to the salaries, but there will be an amendment to the salaries scale to unify the salaries of all the state employees."

He added "The salaries scale will be single for all the employees except some employees who will be covered by the emergency allowances."

Earlier, the Iraqi Parliament has completed the second reading of 2013 general budget's law draft on last Wednesday regular session.

 http://alliraqnews.com/en/index.php?option=com_content&view=article&id=23261:2013-federal-budget-includes-amendment-to-salaries-scale-&catid=37:economy&itemid=41

Follow up fromOC:

I should have added this also:

This is what happened in November 2012 on the salary scale. Almost mirrors the 2003 scale before introducing the new dinars (the one's we hold:)) if you read the first links you will gey the gist;))
http://www.changesxchange.com/t17577-parliamentary-finance-we-seek-to-establish-a-pension-and-salary-scale-budget-before-2013-11-07-2012-149-am

FRANK26 UPDATE, 13 MARCH


jaxjags wrote on March 13th, 2013, 12:59 pm:  Frank,  Concerning the pre-positioning/staging of the LDs with the merchants and money exchangers, if true, and we believe the information is true, then this information points ONLY in one direction. The direction in which it points is towards a revaluation of the IQD in the near term.

 Why the near term? Because the longer the LDs are out of the control of the CBI/banks the more likely they lose control over them. In other words, the CBI would not distribute the LDs unless the intent is to use them SOON.

Folks........we are very close to seeing a significant change in the value of the IQD.  Smile

Frank26: Yes.   BTW ...... As I said on my CC's..........It is no longer lift 000's..........Nor add value to the IQD..............IRAQIA TV tells them..........POWER will be added to the IQD.The WORD POWER is important in the M.E.

KTFA,  Frank
SKYHAWK wrote on March 13th, 2013, 1:22 pm:  DELTA HOW BEAUTIFUL WAS YOUR POST ON WARKA THIS MORNING. HOP DIGGITY DOG, I HAVE SAT HERE WONDERING IF THE 8,000,000 SHARES I HAVE OF WARKA WAS EVER GOING TO BE RESURRECTED FROM THE ILLEGAL, AND BORISH ACT OF THE CBI TO PULL ITS DEPOSITS FROM WARKA AND PUT IT INTO AN ILLIQUID POSITION.  PRAISE GOD FROM WHOM ALL BLESSINGS FLOW, WARKA IS NOW GOING TO BE A WORTHY ENTERPRISE AND WILL LEAD IRAQ INTO PROSPERITY.  AMEN, AMEN, AND AMEN AGAIN.   IN CHRIST  SKYHAWK

Frank26:  Andy........ I am happy for You but You miss the POWER in this move by the GOI:   INTERNATIONAL STATUS !!!

KTFA, Frank

**************************

Robdel wrote on March 13th, 2013, 3:05 pm:White Smoke is coming out of the Vatican, they have selected a new Pope, but have not announced it. They are waiting for Frank and Delta to approve the selection and also the new IQD rate to be revealed.

Frank26:  I have stayed away from this ..........But now I can ask:

Why did their BANK close when Papa retired?   ;)

DINAR GURUS UPDATE, 13 MARCH

3-13-2013  Newshound Guru Eagle1   The number of people that will double dip with the dong is minuscule its microscopic comparatively speaking I don't think they are fretting about that...I've been told that the word out of the UN and the IMF we are permitted to double dip with the Dong.  I'm hearing the Dong is either weeks or months away but they might spring a funny on us!  Other news from hear from 3 separate sources tonight that Wells Fargo has called a foreign currency meeting in the morning [Wednesday].  This is the first time I'm told by our friends at Wells Fargo...they are openly acknowledging the Dinar.  [post 2 of 2]

3-13-2013  Newshound Guru Eagle1   basket of currencies will only have around 12 to14 currencies in it...Dong will not be in the basket...because it will be to great of a shock to the world...major rv with Dinar...followed by 3 or 4 currencies lesser devaluing this could happen a few times...this is my opinion not something I've been told.   [So they are going to allow us to double dip is what it sounds like?] in a sense...But you realize People that own the Dinar and have purchase the Dinar over the years numbers in the millions.  [post 1 of 2....stay tuned]

3-13-2013  Intel Guru OCrush   This is the latest. The oil minister has qualified some oil companies to bid in an area about 200 miles south of baghdad. They are, china, india, russia, japan and france.  A couple of months ago my cousin said when the bidding process starts again, the hcl will be in full swing. They have not determined the day of the bid yet but it is close to be announced. He believes next week. Also the UN will have a vote on the remaining issues on the 21st of March. Getting closer.

3-13-2013  Newshound Guru Adam Montana     At the end of the day, the fight for more territory will continue probably forever. But while Iraqi Kurdistan is using the Iraqi Dinar, and while the Central Government in Baghdad has the final say on international matters... "Kurdistan" will be forced to go along with the rate set by the CBI.  And that is good for us. ok, hopefully that helps everyone understand how "Kurdistan" works and how the HCL is tied to this in so many ways.   [post 3 of 3]

3-13-2013  Newshound Guru Adam Montana    Now since "Kurdistan" is actually a region that expands into multiple countries, and the "line on the map" is not exactly defined... obviously the Kurds want to push the line out and the other countries want to push the line in.  Herein lies half of the issues that make up our famous "HCL"... depending on where that line is drawn, the Kurds should be entitled to more or less oil revenues.  Now that we understand that Iraqi Kurdistan is it's own region, but still part of Iraq, we can address the real issue... who is in charge of the rate of the Iraqi Dinar? IF it was up to the Kurds, or if they even had an equal say in the matter, then we would be in trouble. This is not the case  [post 2 of 3....stay tuned]

3-13-2013  Newshound Guru Adam Montana   This week I would like to *attempt* to explain some things about Kurdistan... the "devil is in the details", as they say, and the more you know about a subject the easier it is to understand the news surrounding it.  When we as Iraqi Dinar speculators talk about "Kurdistan" or the HCL, we are actually referring to "Iraqi Kurdistan".  Kurdistan itself, however, is actually more of a "region" than a defined country. Kurdistan extends into Turkey and Iran, and is defined more by culture than by actual "lines on a map".  This is where it gets tricky....The Kurdistan area in Iraq has constitutional authority to have their own government, and to make their own laws.  BUT the authority stops when it comes to International matters... that authority, even over the Kurdish region in Iraq, is left to Baghdad.  [post 1 of 3....stay tuned]

3-13-2013  Newshound Guru Shredd  Article:  "The Law of the Ministry of Industry conducted it set adjustments during past periods, but still needs further amendments conform with the policy of a free market economy."  When we see this phrasing..."free market economy"...we should really get excited because of what this will represent.   In short, a free market economy is a local economy where supply and demand call the shots. The greater reality is the intervention by the government is rare. Here's a big one...In a free market economy, exchange rates are not pegged (or managed) by the government but rather fluctuate based on the demand of the currency and especially in Iraq's case, the supply of the currency.  So in summary, the House is amending this law in light of the shift, or already initiated and in the process of, moving from a planned economy to a market economy.  What a golden nugget of progress in this!! 

3-13-2013  Newshound Guru Mailman17   [I'm not following.]  OK, HANG ON.  THEY HAVE A 119 BILLION DINAR BUDGET, KEY WORD BEING DINAR, GOT IT.   OK, AT A 1-1 RV THEY MUST PROVIDE 119 BILLION DOLLARS WORTH OF PRODUCT, GOT IT?   OK, NOW IF THE DINAR IS VALUED HIGHER THAN THE DOLLAR THAT 119 BECOMES SMALLER.   DOLLAR WISE SAME PRODUCT, JUST WORTH MORE AGAINST THE DOLLAR.   MORE BANG FOR THEIR BUCK...IN THIS CASE DINAR.   NOT SAYING ITS GONNA BE 2 BUCKS OR EVEN 1.25 BUT THAT 1.17 LOOKS LIKE IT MIGHT REAR ITS HEAD IN THIS THEN.  I DO NOT THINK 86 CENTS IS ON THE BOARD ANYMORE' NOT WITH 119 BILLION.  THE THREAT OF THEM LOOSING A TRILLION IN PROTECTION MAY 22ND IS OUR ACE.  [post 4 of 4]

3-13-2013  Newshound Guru Mailman17    LEAVING IT AT 86 CENTS DOLLAR VALUE IS TRULY STRETCHING THEIR NECKS BUT GIVING IT A VALUE ABOVE THE DOLLAR IS VERY PLAUSIBLE.  ALL WE KNOW IS THEIR BUDGET IS 119 BILLION DINAR THAT VALUE COMPARED TO THE DOLLAR IS WHAT WE WAIT TO COME OUT.  THE IMF EVEN STRESSED THAT MIGHT BE A LITTLE TO HIGH FOR THEM.  SO MY GUESS IS THAT A HIGHER RATE JUST MAY HAVE BEEN NEGOTIATED,  JUST MY THOUGHTS.  [post 3 of 4....stay tuned]

3-13-2013  Newshound Guru Mailman17    BUT, IF THEY WERE TO COME OUT OVER A BUCK, THAT 119....WHICH IS BASED ON A DOLLAR VALUE PER SE IS A LITTLE SMALLER. I WILL EXPLAIN...AT A 1-119 BILLION DINAR HAS THE VALUE OF 119 BILLION DOLLARS, YES, HENCE IRAQ HAVING TO PUT OUT THAT MUCH IN OIL AND ANYTHING ELSE THEY CAN MUSTER.  LETS JUST SAY...THEY COME OUT AT 1.50 THE 119 BILLION DINAR NOW HAS A VALUE UNDER A 100 BILLION DOLLARS...VALUE WISE YOU GUYS GET WHERE I AM HEADED ON THIS?  IF THE DINAR HAS A VALUE GREATER THAN THE DOLLAR....THEN 119 BILLION IS VERY MUCH ATTAINABLE.  [post 2 of 4....stay tuned]

3-13-2013  Newshound Guru Mailman17    A LOT OF DISCUSSION WAS THAT THE RV WAS IN THE BUDGET NO BUT THE BUDGET SHOULD REFLECT THE NEW RATE...HENCE IN A WAY...IT IS TIED IN.  THE OTHER THING I WAS THINKING ABOUT IS THIS, THEY CAME OUT WITH THE HIGHEST BUDGET IN HISTORY.  BASING THAT ON A 1-1 MIGHT BE A LITTLE INTIMIDATING EVEN TO THE IMF AND WORLD BANK AND BASED ON THEIR OIL OUTPUT...VERY SCARY.  [post 1 of 4....stay tuned]

3-13-2013  Newshound/Intel Guru Bluedog   President Talabani's health file is closed indefinitely.  Why can't we see it, did you lie to us and by the way he is in Iraq getting ready to sign the Budget.  Ignore the articles about Talabani not returning to Iraq in March.  Lies and smoke.  Talabani is back and working and there in a hurry now.  IMO there is no delay.   Banking Laws...all Laws are done ready for Talabani to sign all at the same time.  Infrustucture Law is ready for him to sign at the same time as the Budget.  Talabani will sign many laws all at once...it will be Historic for a Historic Budget.  [Is it in the hands of iraq or not? Its in the IMFs and World Banks hands and the world bank is there implementing the Mechanism as in Lower Denoms and other things for this to roll out.   I was looking to Thursday myself...Thursday could work out just fine.

EAGLE1 & FRANK UPDATE, 13 MARCH

Eagle1: basket of currencies will only have around 12 to14 currencies in it .. Dong will not be in the basket .. because it will be to great of a shock to the world .. major rv with Dinar .. followed by 3 or 4 currencies lesser devaluing this could happen a few times  .. this is my opinion not something I've been told

Eagle1: says the USD from what I am seeing and what I have heard will rock back and forth it will adjust up and down up and then down then it will eventually settle down after a period of months .. settle down to its true value as far as its assets backing is concerned ..

Frank26:
So they are going to allow us to double dip is what it sounds like ?..

Eagle1: in a sense  .. But you realize People that own the Dinar and have purchase the Dinar over the years numbers in the millions  .. The number of people that will double dip with the dong is minuscule its microscopic comparatively speaking I don't think they are fretting about that .. I've been told that the word out of the UN and the IMF ... we are permitted to double dip with the Dong ..

Eagle1:
Other news from hear from 3 separate sources tonight that Wellsfargo has called a foreign currency meeting in the morning .. This is the first time I'm told by our friends at Wellsfargo .. they are openly acknowledging the Dinar

Eagle1:
I'm hearing the Dong is either weeks or months away but they might spring a funny on us !

OCRUSH UPDATE, 13 MARCH

Posted Today, 10:57 AM  OCrush Update 3-13-13
Post By Haus - Peoples Dinar

This is the latest. The oil minister has qualified some oil companies to bid in an area about 200 miles south of baghdad. 

They are, china, india, russia, japan and france. A couple of months ago my cousin said when the bidding process starts again, the hcl will be in full swing. 

They have not determined the day of the bid yet but it is close to be announced. He believes next week. ABB has a subcontract with Japan and France.

Also the UN will have a vote on the remaining issues on the 21st of March. Getting closer:))  Cheers:)) 

ADAM MONTANA CHAT, 13 MARCH


[Adam Montana] official chat NO TYPING

[Adam Montana] morning everyone! First things first, congrats to VIZIO on the new family member!

[Adam Montana] This week I would like to *attempt* to explain some things about Kurdistan... the "devil is in the details", as they say, and the more you know about a subject the easier it is to understand the news surrounding it

[Adam Montana] When we as Iraqi Dinar speculators talk about "Kurdistan" or the HCL, we are actually referring to "Iraqi Kurdistan"

Kurdistan itself, however, is actually more of a "region" than a defined country. Kurdistan extends into Turkey and Iran, and is defined more by culture than by actual "lines on a map"
  This is where it gets tricky....

The Kurdistan area in Iraq has constitutional authority to have their own government, and to make their own laws

BUT the authority stops when it comes to International matters... that authority, even over the Kurdish region in Iraq, is left to Baghdad

[Adam Montana] Now since "Kurdistan" is actually a region that expands into multiple countries, and the "line on the map" is not exactly defined... obviously the Kurds want to push the line out and the other countries want to push the line in.

[Adam Montana] Herein lies half of the issues that make up our famous "HCL"... depending on where that line is drawn, the Kurds should be entitled to more or less oil revenues.

[Adam Montana] Now that we understand that Iraqi Kurdistan is it's own region, but still part of Iraq, we can address the real issue... who is in charge of the rate of the Iraqi Dinar?

[Adam Montana] IF it was up to the Kurds, or if they even had an equal say in the matter, then we would be in trouble. This is not the case.

[Adam Montana] At the end of the day, the fight for more territory will continue probably forever. But while Iraqi Kurdistan is using the Iraqi Dinar, and while the Central Government in Baghdad has the final say on international matters... "Kurdistan" will be forced to go along with the rate set by the CBI.

[Adam Montana] And that is good for us     ok, hopefully that helps everyone understand how "Kurdistan" works and how the HCL is tied to this in so many ways.

 [kcw] millionaire in training Hi Adam, My question is... If the HCL is the one thats determining the rate for the RV right? If thats the case whats holding them up. What going on inside the HCL? Thank you

[Adam Montana] Great question, and I appreciate you asking it. This is what prompted me to give the explanation I just did. The HCL does not determine the rate, but it will certainly be considered when the CBI makes that final decision.

 [kcw] sandfly adam, what do you think the kurds will do now. Will they shut up are put us holders waiten longer

[Adam Montana] Until the day that the Kurds are able to secceed from Iraq, Turkey AND IRan and form their own country, they will always be pushing for more land, more money, etc.

[Adam Montana] That's just the nature of that area, and I don't expect it to change in our lifetime Luckily it is possible for the RV to happen in spite of that :twocents:

 [kcw] steveflex7 In regards to the HCL, it feels like we have been close to it being complete for the past few years. With the 2013 budget being approved, has their been more progress on the HCL this year or has it been stagnant since the 2012 budget? Thanks

[Adam Montana] It certainly appears that more progress has been made in regards to the HCL this year than any before. I don't think it is stagnant at all   

 [kcw] silas Good morning Adam. I have question which may have already been answered earlier...do not know, but here goes anyway: When cashing in, will it be necessary to show ID to do so? When I exchanged currencies in Dubai, and Mexico both I never had to show ID. If we cash in a relatively small amount, will it be necessary? If not, I would think that would alleviate a lot of concerns concerning IRS notification, taxes, etc. Thanks

[Adam Montana] Any cash transaction over 10k in the US requires you to fill out a finCEN 104 form - and yes, ID is required. We have specific information on how to handle these matters in the VIP section.

[Adam Montana] next please!

[kcw] Bunk Adam , Any word on when the lower denom's might show up ?? Would that be a precursor to a monetary shift ?? ty .

[Adam Montana] At this time there is no point in introducing lower denoms - once a major rate change is announced, then the lower denoms will be introduced.

 [kcw] one2one who determines when the IQD is a world-wide tradeable currency ?---IMF, WTO, UST, C.B.I. ?

[Adam Montana] Another great question. The Dinar already is a world-wide tradable currency - any bank that wishes to trade it can do so. There is no rule that states it is NOT a "tradable" currency... at this time, most banks simply CHOOSE not to trade it. Once the rate goes up, we will obviously see banks changing their policies regarding the Dinar.

 [kcw] GT ACE Hi Adam, As the Iwaki's continue to muddle along I can see a new major threat to this investment. I understand that the protection for the DFI ends in May! Since the Iwaki's drag everything to a frazzle do you think that the Iwaki's will manage to RV before the protection expires?

If they don't will the Iwaki's be tied up in legal or court battles for years to come and we might as well use our dinar for some other minor but useful application! Also I see that the 2013 budget was passed but how long will they manage to keep it held up before publishing it?

Is there any requirement for it to be published in any given time frame or is it just one of those SOON kind of things? Thanks for your input on all of these never ending questions...

[Adam Montana] The DFI protection always ends, and it is always extended. I don't think this year will be any different - plus, it's a great opportunity for Obama to get some good press. "Yay, Savior Obama extends preotection by Executive Order. All hail Obama" (or something like that)

 [kcw] Dinarspeccy Adam - what's your best current guesstimate for the RV rate on the IQD and why?

[Adam Montana] hey Dinarspeccy! I actually wrote a detailed explanation of my thoughts on the rate - you can see it here: http://iqd.me/l/rvrate

 [kcw] new york kevin Ok Adam: The budget has been passed, yet no one has released any info regarding the r.v. rate, hmmm.That said, the budget is passed, internal Iraqi politicians have compromised, was the rate every really in the busget? Also, what is the delay for Iraq joining the IMF? Let alone appeasing the UNSC foir release from Chapter 7?

[Adam Montana] The budget has passed but I believe it needs to be posted in the Gazzette before it is official. Also, we would not expect to see a rate change in the budget, so that issue is a little irrelevant, other than the fact that it needed to be done to clear the way for future progress.

[Adam Montana] Regarding Chapter 7 and the IMF, it really looks like Chapter 7 is a rubber-stamp away from completion and joining the IMF is as simple as handing in an application and getting the nod of approval. Obviously this will be a simple process once the value of the dinar is raised - why would they be denied with a new high valued currency?

 [kcw] Candy01 Hi Adam, Do you think the Dinar will be on a free float when it RVs, hopefully really soon? Thanks Much!

[Adam Montana] Hi Candy, I think I addressed that in my thesis as well... let me check

[Adam Montana] Nope, but I think I addressed it in the "Cash In Guide". You can get that for free at this link: http://dinarnews.net/cashinguide.php

 [kcw] vietnam1969 Good morning Adam, staff and other members. I will be at work when this happens but I do have a question for you today. If the Dinar revalues at a 1-1 ratio or even a higher rate, won't Iraq benefit from this no matter what rate it happens to come out at? i.e. if it revalues at a low rate, the CBI will only sell it back to someone at a higher rate, right? Plus the spread will help also. Am I correct on this or do I need to do some more studying on this matter? Thanks

[Adam Montana] Same answer as before - I spent a lot of time answering this in the Cash In Guide and also the Rate Thesis

 [kcw] millionaire in training Adam, Wouldnt it be wiser and safer to open a Foreign Currency Account and wait for the rate to rise rather than dealing with the possibility of a currency change? Your thoughts....

[Adam Montana] that's another great question!

[Adam Montana] IF we are able to do that, then yes - that would be a great option to explore. This is one of the options that we are going to approach after the RV with our advisers... you do need to be careful when approaching these matters. Just like moving money in a 401k, if it's not done correctly you can be on the hook for penalties and taxes

[Adam Montana] current rate for federal income tax will put most of us in a 39.6% bracket... you don't want to screw that one up!

 [kcw] Iownay83 Do they have to agree on and pass a new HCL every budget year I thought I heard last year that it was done? Thanks for the Chats.

[Adam Montana] no, it was never "done" - some of the other sites out there had gurus that were prematurely calling it "done", but the HCL has not yet been resolved.

 [kcw] phlip If the dinar revalued to a US$0.10 per IQD1.00 rate overnight, and it happened before the new lower denomination banknotes were in circulation; how could Iraq possibly maintain the IQD as its official currency since all the Iraqi citizens would surely rush to the nearest bank to exchange all their dinars for USD in order to take advantage of a once in a lifetime, (lottery like) 11,582.24% profit margin?

[Adam Montana] I hate to keep harping on this, but everyone... please take a few minutes to read my rate thesis and my Cash In Guide. I spent considerable time addressing these exact matters, in more depth than I can possibly manage in a chat room.

[Adam Montana] But to answer in a simple manner... why would you trade a currency that is rising (the Iraqi Dinar) for one that is falling (the USD)? As one member just asked a moment ago, it makes more sense to hang onto the currency that has the most chance of continuing to raise

 [kcw] sandstorm I have a positive, long term outlook and have a question. IF, the m2 data is accurate..we have had roughly eight to nine years of expansionary policy. Once iraq is internationally in the game, could we expect about the same time for contractionary policy to be achieved??...thusly allowing the rate to improve quickly. I tend to think that the cbi will be in no hurry, they can wait us out over years. then if and when the dinar becomes a reserve currency, we could expect rapid improvement of the rate.

[Adam Montana] You make a good point here - the CBI can indeed "wait it out" and they do not need to be in a hurry to do anything.

[Adam Montana] In fact, they have not been in a hurry thus far. However, that does not guarantee or even imply that they will continue to follow that pace. In fact, I would expect exactly the opposite - when they are ready to change the rate, it will happen swiftly and somewhat unexpectedly. :twocents:

[Adam Montana] Ok friends, that's it for today! I hope the chat was informative and fun for you, and I will see you next week or sooner. Hopefully with even better news!

[Adam Montana] Until then.... :tiphat:

[Adam Montana] open floor everyone   

[Adam Montana] nannab hopefully sooner indeed   

[Adam Montana] ok everyone! If I hear anything I'll do a drive by. Have a great day everyone!

TERRYK UPDATE, 13 MARCH

Terry K Chat 3/13/13 9:04 AM EST

[TERRYK] MORNING ALL
[oucrazy]    morning 
[TERRYK] ANYTHING GOING ON YET
[TERRYK] NOTICED I SAID YET
[TERRYK] HEY OUCRAZY
[TERRYK] MORNING BLESSED
[TERRYK] MRS SEAFOOD
[TERRYK] BIGDOG MOM
[TERRYK] WOW BIG DOG MOM CONGRADS ON BEING GREEN
[Precious]    good morning
[TERRYK] HEY PRECIOUS
[bigdogmom]    Thank you so much, love the color. You are bright and early!!!!   
[TERRYK] BEEN WORKING SINCE 6 AM
[TERRYK] WAITING ON SOME INTEL FROM CHINA TO BE HONEST
[TERRYK] NOW I DID HEAR THIS AM THAT CHINA IS NOT THE OFFICIAL BANKING LOCATION FOR THE ROMAN CATHOLIC CHURCH
[TERRYK] ANY OF YOU HEAR THAT
[TERRYK] well what i just got
[TERRYK] PRETTY DAMN HIGH
[TERRYK] LET ME CUT AND PASTE
[TERRYK] quote:  "Terry , I am serious when I told you the rates were live . I was told that by my intel and by the WF bank. They are waiting for something ? I don?t know if they are waiting on the white smoke to rise out of the chimney ..lol.. with the Pope are Obama to finalize the budget..:) I can tell you I was told that Jack Lew flew back to UST last night ? So, he must be finished in Reno" unquote
[TERRYK] READ IT
[TERRYK] SO U TELL ME SHOULD I BE EXCITED
[TERRYK] HE HAS BEEN
[TERRYK] FOR THE LAST THREE DAYS
[TERRYK] OK BACK TO WORK FOR ME, IF I GET ANYTHING ELSE I WILL BE BACK
[TERRYK] WELL LET'S WATCH FOR THE TIME THJ
[TERRYK] THAT WOULD BE SWEET SINCE TODAY IS A WED
OF COURSE

DELTA WITH THE COPY OF THE COURT'S DECISION RELATED TO THE LEGAL COURT CASE OF WARKA BANK, 13 MARCH


DELTA » March 13th, 2013, 4:42 am  •  GOOD NEWS FOR WARKA INVESTOR

Warka Court Victory over CBI

Dear Sirs,

With regards to the legal court case Warka Bank for Investment and Finance has filed against the Central Bank of Iraq Warka Bank for Investment and Finance is delighted to inform its cliental, shareholders and management that the Iraqi Supreme High Court has awarded its decision in full favor of Warka Bank for Investment and Finance confirming its judicial decision that the liquidity crisis and events leading to Warka's declining financial position is entirely due to the fault, malice, mismanagement and misdirection of both the Ministry of Finance and Central Bank of Iraq their ill actions taken against the bank placing the full blame and cause on both the Central Bank of Iraq and Ministry of Finance their lack to take the proper action measurements and steps to resolve the crisis properly in supporting the rehabilitation of the largest financial enterprise in the country.

Where we are delighted to add that the court decision confirms that Warka Bank for Investment and Finance has implemented, practiced and maintained all legal banking guidelines, protocols and regulations set by the bylaws of the Central Bank of Iraq confirming its true innocence.
We have posted a copy of the court's decision to bring comfort joy and happiness to all those whom have supported our bank, board of directors and management….

Best regards     DELTA

DELTA » March 13th, 2013, 5:02 am  • 

THE IRAQI SUPREME COUNCIL HAS ABOLISHED THE CBI CUSTODY OVER WARKA BANK

WARKA BANK AND THEIR INVESTORS ARE FREE NOW :      DELTA

DELTA wrote on March 13th, 2013, 12:57 am:

 I WILL JOIN FRANKIE ON THE CC WED..... I WILL GIVE YOU THE UPDATE..... NEW GOOD INFO

DELTA