Monday, July 27, 2015


Landaglobalchina/conference update of 22nd is loaded.
UN Rates change 1st and Iraq Dinar Bonds go on sale 2nd at 1095/$

Landa Global CC for July 22, 1915




  Tuesdays are the that the banks align and actually start the week. monday the banks are finishing fridays transactions. so tuesday sounds good

  Well I'm excited that tonight into tomorrow am just might be it...just sayin.

Adept1 : Iko texted me to say that he looked at the IMF website, and sure enough, no rates. I hope this means they are getting ready to update to the new rates.


  imf link... http://www.imf.org/external/np/sec/bc/eng/index.aspx

rkstx : No IQD on IMF or VND on IMF or Afgan. Interesting Ab. GREAT OBSERVATION!
Martha:  Hi everyone dansmoor the imf review is already done. this is a formality to release article 8.It was scheduled for today originally

Martha:  for those who asked me about 7/25, I think the most important things  that happened was the parliament meeting and the passing of the national card which not only for ID but for income payment


 [In your opinion...what do you see/believe has to be done for an rv to even have a chance of becoming reality?] MY PERSONAL FEELING IS, THE CLOSER WE GET TO 2016 AND IRAQ'S WTO CONSULTATION, THE BETTER WE'LL BE LIKELY TO SEE SOME KIND OF MOVEMENT IN THE VALUE. BUT...THEY'RE UNDER A LOT OF PRESSURE.





Frank26:  We have learned much .......... i wish to share with You ........ A Rider.

It's time to do so iMO.    Join me on Your MONDAY CC

KTFA Frank .

 » July 27th, 2015, Frank,   Rider on the Storm.........

If I recall correctly, this rider is a special provision that applies to the exchange rate of the IQD. Is this correct?

If so, before they can use the rider don't they need to have let their currency move to an RI or something better than 1166?   Blessings,   Robdel


It is in the 2015 Budget for The HCL.

Love You.  KTFA   Frank.......... You best come to Your CC tonight...... i have a lot to esplain LUCY !!!


CBonham:  Robdel, (I remember in a past CC Frank saying that they can use the Rider to start the RI anytime they want.)


  Governor of the Central Bank of Iraq: speculation and political interference in the work of the bank behind the recent crisis dinar

Qasim Houca witnessed the seminar held by the «Institute of the progress of the policies of development» to discuss monetary difficulties and the position of the central bank towards them during and guest Dr. Ali Keywords Governor of the Central Bank of Iraq controversy and heated discussions about the real reasons behind the significant decline in the value of the dinar in recent weeks

Participants at the symposium concluded that speculation and interference in the bank's policy of the main reasons that led to the crisis mentioned stressing the need to distance the bank from the interventions and the elimination of speculation as well as create a state of compatibility between monetary and fiscal policy .. warning of the possibility of inclusion of Iraq in the international black list In the event it does not take the required reforms of the banking sector.

He praised the MP Dr Mehdi al-Hafez «head of the Institute of progress for policies development« during a speech at the opening of the symposium the swift action taken by the Bank, which contributed to tackle the crisis and the return of well-being of the Iraqi dinar .. pointing out that the Central Bank's exposure in recent years to pressure various distortions, but the steps that taken recently put it in a new and important site for the desired monetary policy and its contribution to the country's development process

He Hafiz to that of the first initiatives of the bank is refusing to external interventions, whether hidden government or parliamentary convertibles that were inconsistent with the law .. Indicating that the timeframe for the sale of the dollar's status by 75 million dollars a day was an example of blatant interference in the Bank's policy.

He said Hafiz n of the important initiatives taken by the Bank which are doing to support the national development project in the amount of 1 trillion dinars form of loans to set up small and medium enterprises contribute to the national development process and provide job opportunities for the preparation of the results are not too bad of young people are estimated to reduce the 30 percent unemployment .. and up the number of loans of approximately twenty thousand loan they are offered through the windows of the domestic banks and bank guarantees under the cover of a company to provide 250 jobs
Hafiz said he hoped that the central bank will continue the constructive initiatives to include all areas and sectors of development, particularly industrial support the long-awaited initiative.

After that, Mr. Governor of the Central Bank of Iraq, Dr. Ali Keywords occur reviewing the circumstances and events that the Iraqi market experienced over the past weeks, which resulted in a decline in the value of the Iraqi dinar .. explaining the reasons behind this crisis .., consequences and solutions desired so .. Indicating «When we talk about sale foreign as part of the so-called currency and sell the dollar here has to be in order to clarify the concepts we deal with it properly estimated.

The so-it «window sell the currency« in the Iraqi Central Bank and by which the sale of the US dollar, not a secondary window or marginal, it is a big operation with a direct most important functions of the Central Bank of achieving exchange rate stability and to maintain the general level of prices and curb inflation prejudice, Also, the nature of the Iraqi economy Reclining on oil resources and therefore revenue dollar makes the relationship between fiscal and monetary policy, including an interactive relationship necessitated by the nature of the revenue and expenditure of the monetization of the dollar. And that the central bank exercised important roles in this process and in the framework, including:

1. finance current expenditure of the general budget of the state, where the central bank buys dollars from the Ministry of Finance to cover the needs of the Iraqi dinar, according to allocations required in the general budget.

2. finance imports of the commercial sector, as well as other foreign remittances, and to cover travelers and students, treatment and transfers the needs of residents, where the central bank is the main source of a dollar coin by virtue of the nature of the state's resources and the weakness of other sources - and as lists -.

3. The sale of the dollar means the process of withdrawal of dinars in return from the market, and this process helps the central bank to curb money supply and reduce the resort to printing more currency, which will help in reducing inflation and stabilizing the general level of prices.

4. The monopolistic role of the dollar selling process practiced by the central bank provides him the opportunity to control exchange rates and quantities sold and thus provide him with an important tool of monetary policy tools to maintain price stability.

The sales format - in terms of the central bank take it - is followed in countries where governments monopoly on exports and thus foreign currency as is happening in the oil-producing countries.

The other options such as floating exchange rate policy - or dollar sale directly by the Ministry of Finance, they Options ascertains - especially in Iraq - stability and control of the exchange rate for reasons related to the nature of the circumstances, institutional, regulatory, market and regulatory environment, and others.

Demand for the dollar analysis
Often Manlahz focus on only one side in the perception and analysis and conclusion to sell the dollar, which is the short side or the display, with the omission of the other side which is the purchase or demand, with that most important aspect of the subject, and stand it and identify its causes and trends lead to important results, but leads to economic and financial reforms and processors as well as the attention to the demand side is the observer and analyst for falling into the failure analysis and conclusion and treatment.

The stand on the motives and factors of demand for the dollar a very important issue, and can be noted here that the main factors that affect the press and monetary policy:

1. The nature of government spending and trends in public finance policy:
That government spending financed by oil resources and consumer spending represents the bulk of those resources. This spending turn into a demand for goods, which are often imported, and can accommodate this spending widening oil revenues, spending turned into a demand for imports in foreign currency (dollar) is due to the structure of the economy and his palaces to meet the local need, and this weakens the role of the central bank in the display control Monetary which turns into demand for the dollar, where, for example, the industrial and agricultural sector together does not exceed the proportion of its contribution to the gross domestic product of 5% and adds the phenomenon of spending more than revenue (budget deficit) an additional burden with what is required of an increase in the money supply, and this increase with the deterioration of the situation productivity stability leads to excessive cash, and can not be that the central bank of control over the optimal size of money.

2. migration of funds (savings and investment outside Iraq):
The fragility of the security situation and the weakness of the overall stability of money paid out of Iraq, and became the investment and purchase of real estate and savings phenomenon in other countries, especially neighboring countries, the phenomenon raises the demand for the dollar.

It's a pity, that all the efforts and the costs borne by the state and the central bank during the years after 2003 to stabilize the exchange rate and public prices and raising the strength of the Iraqi dinar, all of that has not been reflected on the increased investment or domestic savings, but was the beneficiary of that neighboring countries where he was to those Features in charge of Iraq a major positive impact on the economies of neighboring countries.

3. The low level of remittances from abroad:
The remittances from abroad is an important source of foreign currency sources, but we note that it does not pose only a very small percentage, because of the weakness of foreign tourism and remittances from residents abroad investments, and even the number of retirees who request conversion of their salaries to the outside (to the dollar) is increasing significantly.

4. interventions in the work of the central bank:
Although the central bank is generally well-respected and independence by the legislative and executive powers, but there is pressure directly and indirectly, intentionally or unintentionally, including:

• interference in determining the daily dollar sales ceiling, as stated in Article 50 of the General Budget Law, which is Tkpala Central Bank in the exercise of its monetary policy that require permanent flexibility, this article affect the essence of the independence of the Central Bank and the graduation until about the role of responsibility and accountability when Aeetmkn to achieve in charge of the task in maintaining the stability of exchange rates.

The general budget law is the law determines revenues and expenses and not a law that defines or eliminates what exists in other laws, especially when they affect the laws of bodies gave the Constitution and the law autonomy in its decisions and prevent any party or person of influence and prevent it from receiving instructions or recommendations from others, as It is contained in the central bank law.

It is true that the central bank did not fully adhere to the provisions of identification in the General Budget Law, where the Council of Ministers decided to postpone the application of materials that were not already present in the budget bill, including the article (50), though the central bank tried to take what was stated in the eyes Although the case with consideration of the impact of the loss of flexibility.

• confusing media statements:
That a lot of media statements, which often Matntaleg of deficiencies in the understanding and the surround concepts related to monetary policy, confuse the work of the Central Bank, and creates psychological pressure of the impact on the Bank's management and its employees.

For example, look at the foreign currency reserve just in absolute analysis and assessment of monetary policy as a number, lead to erroneous conclusions and attitudes and confusing statements.

The reserve as a record devoid of Aaahr to the safety and strength of the reserve without attributed to the local currency exported (Dinar) so it must be seen from this standard, usually Maaattabr Reserve sound and sufficient if it covers the local currency, (ie 1: 1 ratio), so the decline in reserve as a result of buying and selling of the dollar, which means that the local currency in circulation also declined and thus keep the ratio the province at their level, and therefore, some central banks in other countries turned to the Public Treasury (Ministry of Finance) Maevad the ratio mentioned, because that increase is the surplus of the need for the bank.

And another example of the misconceptions is to look to sell the dollar as money laundering and smuggling operations.

The presence of such potential operations, as is the case in all countries of the world, but can not be regarded as those operations in general are illegal operations, that the assumptions which runs from the other describes the bulk of sales in the suspicious framework and in amounts up to billions of dollars an assumption leads to wrong analysis where Aastakim logic with this assumption because money laundering is derived from the crimes of money such as corruption and tax evasion, kidnapping and human trafficking, etc., and can not those offenses are sized up to 30 billion dollars a year and the rest (30 or more) is the money is illegal, it is the assumption is far from reality, whether in the estimation of the trade volume, or the size of other operations, where a large proportion of income and profits and gains be transferred to the outside because of the situation, in addition to the passenger expenses, treatment and wages of the study and the salaries of retirees and remittances from non-residents and others.

1. weakness of loans available to the banking and financial sector:
The banking sector is suffering from the weakness of the opportunities available, where the weakness of the savings at the national level, the financial crisis that affected deeply on the business sector, which deals with banks, and the activities of letters of credit and letters of guarantee, as well as Maaaatari provide loans of problems, all it pays banks to take Dollar selling process easy shelter her.

On the other hand, the number of banking companies granted licenses in recent years reached the limits of 2,000 companies, although the name of this legal companies is to mediate in buying and selling currencies other words, the source of their currencies from the market and through the mediation process, but the limited market because of the lack of tourism or transfers from abroad, these companies rely on the central bank to get on the dollar and sell it, and that's where this activity is the foundation of many of those companies conducting market speculation and fabrication of artificial demand in order to raise prices and outrageous benefits.

2. Dollarization:
Despite scored from the installation of the exchange rate and the strength of the Iraqi dinar, a significant proportion of transactions take place in the Iraqi market through US dollar instead of the dinar, especially in the province of Kurdistan.

The accompanying case inherited fear of the conditions in the country of the former regime and the blockade paid a lot of hedge what can be exposed dinar, as happened in the nineties. This phenomenon receive an additional burden on the central bank to increase demand for the dollar.

The stand on these factors is an important issue, not only to analyze and understand what is happening, it is a matter of processors radical lead to economic reform, Mali and provide the best conditions in the business and investment environment and the expansion of the productive base, diversify and protect local product and financial management of an efficient tax system efficiently and effectively.

The seminar held by the «Institute progress of development policies» to discuss the difficulties and the cash position of the central bank towards them and a guest where Dr. Ali Keywords Governor of the Central Bank of Iraq controversy and heated discussions about the real reasons behind the significant decline in the value of the dinar in the past few weeks have seen.

Participants at the symposium concluded that speculation and interference in the bank's policy of the main reasons that led to the crisis mentioned stressing the need to distance the bank from the interventions and the elimination of speculation as well as create a state of compatibility between monetary and fiscal policy .. warning of the possibility of inclusion of Iraq in the international black list In the event it does not take the required reforms of the banking sector.

Capping the sales dollar. Is it a successful solution?
Some believe - based on an understanding of Aaakhlu of lack of understanding of monetary policy - that is determined by the highest dollar sales ceiling adhered to by the central bank and Aataadah, that this view is refuted by the following matters:

A-We have shown that the state budget in dinars funding to cover the expenses come from the sale of the Ministry of Finance of dollars to the Central Bank, which is to re-sell the dollar to the market for the dinar, which feeds by the Ministry of Finance to the extent that covers the general budget expenses.

The cap for sale means to determine the amount that covers the need going forward so the ceiling which is not possible, for example, if what has been taking the ceiling set out in the general budget and the specific sale of 75 million dollars a day, it means that the central bank sells the equivalent of about 23 trillion dinars per year, while operational budget expenditures (JD) about 70 trillion dinars Assuming the existence of imports in dinars up to 10 trillion dinars need about 37 trillion dinars remain. (37 trillion dinars = 23 - 10-70).

Where will it get this amount of (37 Trliuna), that the requirements to maintain the size of the money supply and to meet the requirements of the Ministry of Finance, requires sale of the dollar in the market to pull Maakablha of the Iraqi dinar.

Maybe someone says can the central bank should not sell those quantities, provides coverage for financial need extra versions of the dinar, any print additional quantities of $ 37 Trliuna, this means increasing the money supply or the so-called cash excessive where this amount would be as much as currently Mamugod of exporting currency, any It will double its size in trading creates significant inflationary pressure, as it will turn into extra demand for the dollar.

(B) determine that the sales ceiling means that monetary policy has been identified external decisions, to Atanthec independence only, but will lose their tools in the exercise of its policy, as it would throw them out of the circle of responsibility and accountability in the achievement of its mission to maintain price stability.

That monetary policy require ongoing flexibility, which is not financial such as policy governed determinants and AMAD bound by them according to the law of the general budget of the medium- and long-term plans, which does not apply to monetary policy, which requires decisions and directives and amendments to the circumstances and requirements of the market.

(C) The determination of the sales ceiling, will lead to the creation of expectations and forecasts in the market, and this Maitnaqd with the requirements and the nature of monetary policy action, and therefore, under our environment conditions unstable, will exploit these selections and turn into a dangerous speculation claiming the exchange rate and create markets where parallel gray paid for Citizen result.

On the other hand, this determination requires restrictions and conditions on sales, which - as is the case in other sectors - leading to the operations of corruption, fraud and forgery, and turn those controls and restrictions to the exploitation and extortion by the rings, which holds it.

The current conditions and the environment that suffers from great institutional problems and cracking in all joints should lead to follow policies and procedures are clear and simple so that there is not room for exploitation and manipulation.

Edit sell the currency: the most realistic solution requires .. Why?
The provisions of the nature of the economic system - the political and chosen Iraq to follow the market economy, economic freedom, and the commitments made by Iraq internationally to abandon restrictions on the sale of foreign currency, and what is the reality of an environment of opportunities for exploitation and the search for quick gains easy, all calls that the best choice is the liberation sell the currency restrictions to stabilize prices and filling corruption, exploitation and banditry outlets in front of mafias waiting for opportunities limited and restricted to achieve obscene gains, an option that we put forward in our meeting in the Finance Committee in the House of Representatives in 06/14/2015, among other options, and agreed Commission us to move in this option.

This option requires two basic:
1-Verification of money that are buying the dollar by the source, in terms of legitimacy and cleanliness, and they do not represent the proceeds of crimes or corruption in order to be washed.

2-checking the destination that transforms them in such amounts out of Iraq, and access to data and analytical statements that show the last two beneficiaries of the amounts transferred.

The realization of what you stated a big job in front of the central bank and the relevant authorities such as the fight against crime Alaguetsajah Directorate and the National Security Service, and regulators and effective cooperation with the public prosecutor and the judiciary.

We have started when our mandate with the task of the Central Bank to activate the role of the anti-money laundering office, which - unfortunately - has not received the attention and support in the past years, did not the previous administration believes the importance of this role in the framework of the central bank, although the law stipulated that so the central bank's job.

We have given to the Office of independent administratively and financially and spatially and we are providing work requirements of all, and certainly that the office needs to build its capacity and the development of skills of workers in which the control and investigation, as accomplished a draft anti-money laundering, which was prepared according to the latest requirements of international law and standards, and we hope the House of Representatives approval soon time.

Also that the issue of censorship in general is facing significant challenges, including:
1-modern private banking sector in Iraq and the need for prophylaxis its performance and its systems and optimal use of information technology and to activate the role of the units compliance and anti-money laundering in those banks, and raise the level of transparency and disclosure, reporting and data on the latest standards, and that these banks need to separate the administration where all property and remove them from the domination of the executive boards of directors work.

2-increasing number of banking companies were awarded more than 1,500 vacation in the last two years.

That so many are difficult to control and to control it with the failure of the administrative, organizational and technical environment, there are also a large number of banking offices are not permitted and practiced its violation of the law, which is outside the responsibility and control of the central bank, located prosecution in the fight against economic crime device.

3-weak national data in the fields of trade (import and export) and other relevant data entry and taxes, companies and traders and others.

4-existence of large cash commercial market, where the purchase materials and goods from neighboring countries to pay cash in dollars, with a trade volume with Iran alone $ 10 billion are repaid Akiemha dollar because of the danger imposed on Iran and not to the possibility of transfers to it, that this phenomenon limits the ability the control of the lack of transparency.

5-spoiling wide loops in state institutions of some banks and the conversion of other financial institutions, where you get to those companies a lot of money as a result of speculation in dollars to enable them to spoil in many state institutions from the highest levels to the lowest level.

This phenomenon makes control difficult and complex process, instead of those that are integrated with loops of the Central Bank in the performance of the supervisory role they become part of the problem as to facilitate manipulation, forgery, fraud and tax evasion and other operations.

On the other hand, the role of Sergeant or Inspector become surrounded by the dangers of the threat as a result of the large gains that accrue to corrupt.

Also, the requirements of control requires the development of regulations and instructions, but turn into formulas benefits and extortion by some corrupt institutions in the country concerned.

The control of the operations sell the dollar inevitably requires upgrading the overall supervision and control of money laundering activities which Mansay him and we hold packets to be strengthened, as it requires a real and effective cooperation with the security, regulatory and judicial organs in order to not be the buying and selling a way to cover up the crimes or terrorist financing or other harmful and dangerous practices on our security and our economy and our society.

The exchange rate of the dollar .... Two options are available:
The dollar exchange rate can be determined with two options are linked to the financing of the general budget, namely:

-1 exchange rate to be low while maximizing the resources of the general budget by tariffs of direct and indirect taxes.

2-exchange rate to be high, a certain percentage in return for scrapping or customs duties and indirect taxes reduced.

The second option may be the best suited in Iraq to secure revenues and avoid cases of corruption and manipulation of the broad in customs and tax services, an option is available, but should be studied carefully and identify potential risks and ways to control them.

After the Governor of the Central Bank of Iraq following the words of Chairman Dr. Mehdi al-Hafez saying .. We are in desperate need for dialogue showdown like the one spoken of by the Governor .. dialogue between the ruling and Almjkum .. If such language is not available, we can not solve our problems and this .. kind of dialogue is required at this stage precisely .. recalling the governor clearly that the central bank may come under pressure We know them and they are many ..

We also need to control the reform, which represents a key issue in the process of economic reform, these controls are not available this means that economic performance in danger .. adding that the central bank's decision to submit trillion dinars to domestic banks for small and medium enterprises, the support that is not a simple matter and there important projects are still on paper did not materialize at all an issue of the utmost importance and must be taken into consideration .. stressing the need to be the central bank's active role in the development, as stipulated in the Constitution ..

The other thing is that fiscal policy - monetary and economic inseparable can not be separated and the urgent need for economic reform. Central bank, he can not alone solve all the financial problems in customs, taxes and the movement of goods between inside and outside is a matter of a totalitarian character for the national economy as a whole. Then open the floor for discussion Chair of the participants in the symposium ..

Abdalbagi banking expert Reza called the central bank to clarify his positions about what publish news and Mmalomat that harms the reputation of the bank and monetary policy in Iraq, including what has been published just days before the indictment Bank of succumbing to quotas and the denial of a group of banks currency auction

Mr. Governor of the Central Bank has denied the validity of this information, calling the banking sector to distance for such charges.

Industrial expert on behalf of Jamil Anton put forward a number of questions .. indicating that the central bank functions of protecting the citizen who deals with banks .. Many citizens complain of some banks deal with them by giving them their money deposited in dinars instead of dollars as deposited by Bjajh that this It is the central bank directives

Here, the governor stressed that this issue has been resolved .. warning banks that make such an act to take legal action in order to protect the right of the citizen

Antoine also pointed out that the tax be levied on goods entering the country, how are they satisfy the entry of any goods of the country .., adding that the proportion of the (5) percent Kmarkip fees deducted after the entry of the goods into the country at the border crossing.

Economic Adviser to the Prime Minister Dr. appearance of Mohammed Saleh explained that the Bank has a problem regarding freedom of movement of funds, Iraq is committed to the Convention on the International Monetary Fund since 1945 amended and indicate Article 8 of this Convention to edit the current account of the balance of payments means freedom exports and revenues and conversion returns to work and capital. . I left with Article 14 of the Convention for the countries of freedom of liberalization of capital or not to edit the condition flags Fund so ..

He explained that Iraq is not in the legal framework and the nature of its obligations with the International Monetary Fund Has the liberalization of its accounts or not ..? For all the problems that occur are the result of slurring between transfers for the purposes of trade between the head and the same money transmission .. calling to clarify the picture with respect to the capital account of the balance of payments is whether the Iraqi Mahrram is editor. The Iraqi legal establishment investigate this important issue and give a clear picture of this and save the central bank from this problematic

Ms. Director General of the Trade Bank of Iraq Hamdiya dry pointed to three factors affecting about largely on the performance of the Iraqi banking sector, perhaps the first of intervention legislative powers in determining central bank sales ceiling of the dollar and this will impact negatively on the exchange companies and banks through reduced daily quotas by about large. . calling this authority to the bank and bank account on the basis of the results.

Dry and showed that the censorship followed the central bank may sometimes be inaccurate and sometimes for flimsy reasons are depriving this company or that the bank of the auction.

Head of Iraqi businessmen Union Reza Ragheb Blibl explained that the central bank's developmental role in supporting the private sector, especially investment projects that the availability of jobs and support the national economy .. indicating that the announcement of the setting up of industrial initiative which still is disabled which will play an important role in the national industry support and reduce imports from abroad.

Blibl and praised the central bank's initiative to allocate 5 trillion dinars three specialized banks (agricultural - industrial - commercial) .. He expressed regret that the industrial initiative can not implement its provisions to the lack of allocations within the budget of 2015 and maybe even in the next year.
Banking expert Ali al-Husseini (Bank of the UNESCO) called for the involvement of retired sponsors in the process to ensure that the loans because of the state departments may not deal positively with the issue of guarantor guarantor and thus the involvement of retired ease of this issue.

Dr. Ali high-former Dean of the Faculty of Law at Baghdad University, said the central bank went to the Federal Court on an item your budget a ceiling sales of the dollar to 75 million dollars a day and is the right step .. but the problem is that the bank also violated the law by continuing to sell amounts Rord higher than in the budget without waiting for the court's decision .. adding that the cancellation rate of 8 percent, which represents a tax and therefore, the cancellation was not successful being is one of the sources of funding and cancel budget also confirms the absence of harmony between fiscal and monetary policies.

Banking expert Samir Nasiri said that the central bank Aithml and severity of the problem that occurred recently, a decline in the value of the dinar .. there are other views should bear the responsibility regarding a partner in it .. noting that among these agencies and the Ministry of Commerce bear the responsibility of not controlling the Astiradtha and curricula import government and private .. and the Ministry of Finance is responsible for lack of pressure on public spending and the introduction of central bank responsibility for the collection of taxes and fees of customs and it is not his duty and banks .. and the Ministry of Planning did not provide transparent data on foreign trade .. and the Ministry of Interior did not perform its role in controlling economic crime. . The greatest fear is the media is economic.

Economic expert contrary goldsmith talked about fiscal and monetary policies must be consistent .. and that 70 percent of oil revenues go to the consumer spending issues here are of the responsibility of the Central Bank or fiscal policy Valmlahz is the lack of compatibility between the financial and economic two policies resulted in failure and clear in completion of investment projects that could have supply the general budget financial resources .. calling to pay exceptional attention to this matter to achieve the desired harmony between the two policies and compatibility.

Financial expert, Dr. Abdul Razak Dawood al-Saadi said the developments in the funds of private banks, which amounted to $ 250 billion capital increase did not help to achieve an increase in profits but the percentage increase profitability very slim that were not non-existent .. The meaning of this to be a reserve in excess of the money has been withdrawn from the market.

Economic expert, Dr. Abdullah al-Bandar pointed out that the latest crisis that occurred is not pointing the real causes Is it economic, political or social .. pointing to the economy constants must for Anhad them. If the tax imposed is the reason for the high price of the dollar, this is a dangerous means that our reading of the economy Iraqi estimated true .. The bitter truth is that the magnitude of the imports requires us to find a regulating them because most of them Trevi and markets filled with demand Valastirad open unreasonably under difficult economic conditions faced by Iraq, a situation deflationary rate of growth to exceed the 1 percent and this invites us to search for new sources for the harmonization of fiscal and monetary policies in order to Anuge blame in terms of specific .. calling for a study of the real factors behind the occurrence of such crises and the media and civil society organizations to take a real role in the erosion of those T-behind this crisis.

Businessman David Abdul Zayer Head of Business Iraqi Council between the Ministry of Finance an obligation to put fiscal policy of the Central Bank of Iraq to stop its funding from the sale of the dollar Paljbaah .. If continued the case on the basis of selling the dollar to finance the budget without levying Snbakh are caught in a vicious circle and we'll wasting future generations fortunes .. adding that the central bank has in the past two years to transfer $ 21 billion to import goods uneconomical cost of imported 3 billion and the cost of production billion one total $ 4 billion was possible to benefit from these amounts in the vacation development and import at the official rate and keeps the transfers for development and to stop the importation of goods non-economic ..mbana that the $ 50 million set by the central bank to lend to small and medium enterprises, which is not sufficient because this loan will go to small businesses .. calling to increase the size of the amount Air 100 or 150 million dinars

Banking expert Adnan Chalabi (Ashur Bank) said there were two prices for the first exchange in Baghdad and one in Erbil, what exists in Arbil over Baghdad about 20 points and the reasons that led to the increase in the dollar price .. adding that the head of the re-money requires to know the scientific study How to restore migratory capital and provide appropriate for the return of this money conditions.

Industrial expert, Dr. Samir Lillo between the central bank initiative to provide trillion dinars to support small and medium-sized enterprises and that they represent a positive step task, but it does not represent (1) percent of the volume needed .. calling on the central bank to create an advisory body to define the mechanisms of exchange of such amounts to make them useful in stimulating and reviving the economy.

Mr. Ali Tariq, executive director of the Association of the bank between the financing of small and medium enterprises project will be monitored by the central bank as the private banks will be lending of their funds and then be compensated later by the Central Bank therefore this system will be controlled accurately .ually private banks to be careful giving correct loans.

Dr. Abdul Hussain His financial adviser and the economy at the International Development Bank .. noted sagging government spending. Indicating that the domestic production in the past decades was covering the local need of oil, dairy and leather and other was not Iraq imports this commodity, but now these projects are very huge and salaries stopped and was administered to 2,000 workers in today employs 6000 workers and represent their salary burden on the budget and this requires General treatment .. calling for the development of domestic production to substitute for imported and ease the burden on the budget ..

D business man. Ahmed Ibrahim, said the pressure is not always the expenses, it's true in the present time may cause a recession and kill .. imports also praised the initiative of the bank to grant trillion dinars to support small and medium-sized enterprises, calling for the development of appropriate to take advantage of this amount in development support mechanisms ..

Banking expert Adel Nouri .. He expressed concern over the Iraq Central Bank in the blacklist to include stressing the need to take urgent action to avoid it.
One of the participants said that the private sector did not get their dues from the state and the development of this sector has become very low, there are about 600 companies and its members expelled closed.

Mona Saleh Managing Director of the company guarantees praised by step the Iraqi Central Bank committed $ trillion dinars to support small and medium enterprises, which account for 90 percent, which represents the core of the industry may be a small amount of 50 million but can be increased.

Mr. Ismail Zayer, editor of the new morning newspaper said the cash systems in Europe have resorted to a massive reduction in the Windows currency sale in all European countries and this is the building of money laundering because it reduces the activity currency switch This is useful in the case of Iraq more than another country as a result of the circumstances in which pass by it ..

Zayer and expressed surprise at the non-application of the sales tax or services, procurement and this between 18-22 percent range in some countries such as France and others ..

Noting that Iraq is in dire need for the collection of such taxes is useful to look at these projects and try to bring into the Iraqi market.
Location: Editor 2015 - 07-27



Terry K Chat 9:44am 7/27/15

 [.TERRYK] Morning all
 [damsel] morning
 [.TERRYK] nice to see u damsel
 [.TERRYK] all I'm going to say about this is make sure u have precious metals hint hint
[.TERRYK] sept is just around the corner
[kaycee] .terryk    
[damsel] jim willy has some good articles and audios on the dollar
[.TERRYK] kaycee how u doing
[arizona49] .TERRYK It sure is, will be here before we know it 
[.TERRYK] and yes all I'm still working off of a iPad, still have not gotten my pc' s back

[wushock92]    Mornin' Boss
[damsel] over a year ago i was in the bank the guy next to me talking to a teller asked for new currency since he was taking an international trip and he was concerned about having just dollars
[.TERRYK] a lot of things going on in Iraq
[.TERRYK] hey wushock
[.TERRYK] so damsel heard a lot of chatter over the weekend that some are saying Iraq did something over the weekend
[.TERRYK] did u hear that

[.TERRYK] but I can't get any confirmations
[damsel] The internal dynamics of the US Treasury bond are revealing. Jim breaks down the exact machinations of this market. He shows an asymmetric development where smaller samples are creating larger changes and this is very disturbing to the money handlers. China has dumped $250 billion in US treasuries in 2015 alone, about 20% of its ‘official’ holdings. Jim believes its real holdings are much less due to creative use of swap trade agreements
[KENBBQ1] .TERRYK apparently they didn't do enough....    
[Grandmaster] .TERRYK Do you think the parliament will take a 50 % pay cut without doing anything about the currency??
[damsel] i hear a lot of things and yes i did hear that
 [damsel] https://www.perpetualass ··· -willie/
 [.TERRYK] i see silver is down as well as gold

[damsel] phony lows
[.TERRYK] did u all see rand Paul pushing 14% flat tax
[damsel] Gold backed banking is the future. The BRICS are leading the charge. Jim believes the infrastructure is being built for international gold settlement in currencies and treasuries.
[arizona49] .terryk yes 
[KENBBQ1] .TERRYK I have heard a couple of folks say metals may not be what we are hoping they will be...
 [beach]    you told us long time ago that gold would go down before the RV

[.TERRYK] but did you see that the Don has 24%
[damsel] Unfortunately the paper money concept has strong roots. The understanding of money and capital by the US general public is dismal at best. The move to a gold standard may not be very well received.
 [damsel] there u go uneducated public
 [damsel] the party will be over
[wushock92] damsel uneducated or ignorant?
[.TERRYK] u know damsel I agree with that, why every other add on tv seems to be pushing that.....my grandfather use to tell me how the Feds took just took the gold out of the public hands in the old days
[arizona49] wushock92 or grasping at anything
[.TERRYK] whonisvto say they would not do that again
[Grandmaster] wushock92 One is the symptom of the other    
[.TERRYK] kind of sounds like what another country did in the past year or so

[KENBBQ1] .TERRYK Also I asked Dwight Thursday night about the Gov. being able to come in and rob a trust like they do back accounts and he said they could.
 [damsel] Nixon took us off the gold standard and put forward the petro dollar
 [damsel] in association with the Saudis
[.TERRYK] they can
[damsel] now the Saudis are China and Russia’s new best friend
 [wushock92] Mason jars in the back yard are sounding better all the time
 [.TERRYK] they can do whatever they want, trust me, they did that here
[damsel] the new king could not make it to Barry’s meeting awhile back
[KENBBQ1] wushock92 that is what I am doing....   

[damsel] the old king who passed away didn't appreciate the way the Obama administration handled Egypt
[damsel] this is all in the public media
[raymond b] damsel you think gold is going lower
[damsel] Continuing a TFMR tradition, Jim Willie joins us for a 90-minute discussion that ranges from dollar demise to Greece to China. If you can find the time, I highly encourage you to give this a thorough listen over the holiday weekend. This may very well be the best conversation that Jim and I have recorded in our four years doing this. As mentioned above, Jim addresses: •the inevitability of the demise of the US dollar as global reserve currency •the situation in Greece and the effects of the pending referendum •the end of the petrodollar •the growth of Chinese currency swap facilities worldwide •internationalization of the RMB and the Chinese bond market •the AIIB and the BRICS Development Bank 
[damsel] it will turn around and go up when the new powers decide jmo
[KENBBQ1] Obama didn't get a very good response to his take on gays and telling his African brothers to embrace them.....they were not happy about that....
[arizona49] damsel not too many are showing up for Barry 
[damsel] the African religious leaders ie the African catholic bishops are the most conservative 
[damsel] so are other religious leaders in Africa
[damsel] one has to wonder about the attacks in Africa on them
[.TERRYK] To funny they are talking about that on the blaze
[damsel] always look under the covers there is always another story there
[.TERRYK] i heard this trip to Africa cost the tax payers over 200 million
[KENBBQ1] .TERRYK It’s just money...we can print more....    haha
[.TERRYK] print more money
[.TERRYK]    lol
[.TERRYK] think alike scary
[KENBBQ1] .TERRYK yes it is    
 [.TERRYK] so damsel when can we see this according to your peeps
[.TERRYK] I’m hearing or heard Tue night
 [damsel] i hear a lot of things
 [damsel]    brb phone
[.TERRYK] i want to tell u all thanks
[.TERRYK] for being members in this free room
[.TERRYK] so with that I'm going to go look for some info, I will tell u Iraq is moving in the right direction, and I expect news any day                               

         [.TERRYK] God Bless u all


Replay 605.562.3179, PIN CODE 409029#
Tony:  Good morning, TNT!  Today is Monday, July 27, 2015.  It was a long, long weekend.  Mine was probably longer than yours because I was getting more information. I will go through the weekend with you and tell you where we are now.  All good news…

Friday after the call, everybody was called in and told to be on standby, because this was going to happen Friday night.  They were called in two hours early on Friday morning.  On Saturday the memos went out, they brought everyone in, and told everyone it would go 4pm EST, 1pm EST.  They kept them there until 7 on Saturday night, then sent them home saying it wasn’t happening. They are just as frustrated as we are.  On Sunday they had everyone on standby, no more than 15 minutes from the office, for release at 3pm on Sunday.  Everyone was ready to go, but we are still here.

They did this all weekend, and they are still being told this could go any minute.  Let me see if a memo went out this morning.  There was no memo today, but there probably will be one after this call. But everything is good.

Over in Iraq, there have been no memos, and we here that they are highly upset and gathering in the streets as of an hour ago. They are tired of being told every day that this is going to happen.  We know it’s close as it’s ever been;  they are moving people around the world to get this done.  We know it has to be done bu1. August, when they are cutting their salaries and the terrorists have to be out.  Also, there are new taxes on cars, travel, property, cell phones – those all start on the first of August. They cannot do this on their existing monetary system. The bonds are supposed to go on the 2nd, the day after the RV goes international. These are all dates that are set, that they are telling the people.

We do know that they will change the dates in a heartbeat, so don’t bet the farm on it.  Until it actually happens, this is what they are telling the people. There are 31 days in July;  it’s four days until 1. August.  I think it’s good.  They are announcing this to Iraq and to the world, and someday they are going to have to stick to what they say.  Our banks are pushing for this like crazy. They are tired of putting their people on standby.

That’s where we are at.  They are still trying to do it, they had people on standby all weekend, and it could happen right now… today, tomorrow, tonight.  A lot of people think that it will happen tomorrow.  I could have told you to look for it after the markets close last Friday, but I said between today and the first, when all their new laws and salary cuts go into effect.  I don’t remember what day they sent out their pay, because they might wait for that.  They did say that they would have regular pay days  from August.  So that is the news..

707 caller:  There has been discussion about the 100 trillion zim being the only ones that will be exchanged.  If you have 100 trillion note and a 10 trillion note, will the 10 trillion note be wastepaper? I just bought some more with a 10 trillion note bonus.

Tony:  The person I talked to said 50 Ts and 100 Ts, but it’s possible that over 100 trillion they will take 10s as well.  We don’t know.

Caller:  Do you know anything about the bond prices?

Tony:  I’m not involved in any of the bond deals at all.  Some people say that they are tied together, and I heard that the bonds will come out by the 2nd August. That’s all I know.

508 caller:  Do you know what is going on with the reserve companies?

Tony:  I haven’t heard one thing about that. I haven’t been trying to look into that because I don’t think there will be a revolution about that.  There will be options afterwards, and with the amount of money involved, I imagine people will be taking action.

Caller:  Vegas, Vegas, Vegas!  Tomorrow is our RV day!

828 caller:  When people keep getting called in, I imagine they must be told this by Abadi or people closer to Abadi.  Who is sending out the ‘get ready’ and ‘no, we’re not doing it’ word?  Is it Abadi or someone/something behind the scenes…

Tony: We are getting from our banking sources.  On Saturday, all the branch managers and wealth managers were called in saying that this was happening at 3pm EST.  I don’t know who they are getting their memos from.  We get those memos from Iraq and from several different banks sources.  When they all come out with the same time, at least everyone is on the same page, and when it doesn’t happen, it doesn’t happen.  My under-standing right now is that the US is pushing for this.  I don’t know if it’s Abadi, Shabibi, or the IMF is doing this.  I know they planned on having all this BY the first of August.  If there is someone behind the scenes, they would never let us know until afterwards.

478 caller:  What is happening in Kurdistan?

Tony:  I haven’t heard anything about Kurdistan.  Like every other ME country, they are waiting for Iraq so t hey all can be rich together.

404 caller: What impact is the Asian market having on the RV process? China markets were down 8-9% and the US markets are down as well.

Tony:  There isn’t any global event I know of why they couldn’t do it last night. We made phone calls, couldn’t get through to Iraq, and they didn’t have anything in the mosques this morning.  They are super-quiet, and the more they do that, the closer we are to this taking place. They don’t’ want to do it in a down market, so I expect to see the markets going up. China was pushing very hard for this last week, so…

Caller:  We heard a rumor of the dinar going to 1095 this morning. Also, I heard that Iraq was given two months to approve the anti-money-laundering law.  Does that have an impact on the revaluation.

Tony:  So far as I know the money laundering laws were passed months ago.  I believe that they are doing the final reading on the other laws today/tonight.

Caller:  I heard a rumor that Iraqis were celebrating on Saturday night;  what’s that about?

Tony:  I don’t’ know anything about that.  They are in the streets now because this hasn’t happened yet.

863 caller:  Super-excited about everything today. There is news of some kind of bonds been sold at 1026, between the 2nd and 16th of August for 16-month bonds.  If they are selling at that rate, how can they do a revaluation of rates during that time?

Tony:  I think they will revalue the rates on those bonds as well.  If they are advertising those bonds, they have to give the current rate, not the rate it will be in the future. But the can adjust those rates accordingly.

I haven’t asked about the rates:  I think the dong rate was 46 cents over the weekend;  it was $2+ at some place, but that might be the contract rate to run the system. The dinar went to $3.91 to $4.21 on Saturday.  I know about where the rate will be, I want to know when it will be.  It’s 1.08 for the rupiah, and 11 cents for the zim – that’s what is supposed to happen, but anything can happen.

Caller:  Is there any reason for the volatility of the dong?

Tony:  I think they might be showing the international rates in some systems and the contract rate for the dong in others.  There are definitely contract rates still available.

252 caller:  When people were being paid at the high rates at the beginning of last year, how would that change for those people if we get the international rate?

Tony:  They will get the rate that was agreed with them at that time, regardless of the international rate.  Some of us may get those contract rates as well.

Caller:  One of my friends worked a Wells Fargo, and then she changed banks.  [Can’t understand this caller]  WF is still saying they will not have anything to do with the dinar.  She doesn’t want to exchange with them because they told her No.

Tony:  I know people at WF who are involved in this process, and they signed NDAs saying they wouldn’t buy dinar, and all their family members bought dinar.  If your friend can’t buy dinar, then she can have her family buy some.  And if she is no longer at WF, she can buy some herself, I would think.

219 caller:  I have a little story.  I called my attorney asking if they freeze accounts if too many people have currency.  She asked me all these questions and when I mentioned your name, she sent me about ten emails about fraud and scam, and “how much did he charge you, and how much does the website cost?”  She was trying to pull out as much negative information as possible, and I said, “Tony didn’t say that”, and she kept  saying “he’s lying”.

Tony:  You aren’t the first to have that kind of story.  We have 25,000+ on the call. The fastest way  to get any information throughout dinarland is to say “Tony said…” when I didn’t send it out and I don’t even know these people.

Caller:  The last you said, Zim will lose six zeros, and I’ve heard elsewhere it might lose ten zeros.

Tony: They have been saying six zeroes for a while, and on Saturday it showed  up at four cents.  I’ve also seen 11 cents on the screens.

Caller:  After this goes, and after our tithes and offerings, I want to support organizations that are helping teenagers.

Tony:  After our call on Friday, I saw on Yahoo that a guy left a $2,000 tip, and I thought, “Someone got their dinar money!”  I saw another one on Saturday.  It’s great to see that and I still want to see OUR day, a day that we all give people $1,000 tips. It would be great to be part of that.

512 caller:  All my questions were answered.  [Appreciation]  I just want this to happen.  Vegas, Vegas, Vegas!

770 caller:  Since we’ve been having this Round Robin, and I know you cannot pull the trigger, where do we the people have any leverage apart from absorbing the information?  What can we do to at least to be treated fairly?

Tony:  Our information is that we are going to be involve din the process, and a percentage of us will get contract rates, and ALL of us will get international rates.  “We are the people” started up because we were going to be cut out completely. Then we were going to get the $3 rate, and we said that was not fair when some people got $20-30 rates.  So it was agreed that part of dinarland will get contract rates.  It was never our job to force our government to do something they didn’t want to do or at a time they couldn’t do it.  If we could have, it might have affected our economy and 350 million people who don’t even know about dinar.  The purpose of that campaign was to keep us involved and receiving a fair share.  The word that came back is that we had a place at the table, and I said ‘Okay’.  The cost of that was ME, with a whole bunch of personal sacrifice. There are a lot of people who know my name that I never wanted to know my name.  There are other people in Washington who stood up for us saying “that’s not right” for us to be excluded.  Everyone will get something.  It was NEVER our position to force the government to do something they don’t want to do.  We funded Iraq over the last 10-12 years, to keep their economy running, and we will get something in return.  The main thing is the Iraqi people, who suffered a lot more than we have, and it’s their country.

Caller:  We’re not talking about what they do over there, but what they do over here.

Tony:  I never said it was fair.  Position has its privileges, like it or not.  We can’t fight something right now.  You need to pick your battles, and now is not the time, so close to our time. Everyone’s agreeable right now;  let’s just get this done. I can’t worry about the past,  I have to look to what I’m doing in the future.  If they don’t live up to the agreement, if we don’t get a look-in, then we’ll think again.  But it’s so close now, we don’t want to mess with it and maybe put it off for another year.  I heard that more people will get the contract rate than I ever expected!  I know people are getting paid, I know what the banking people are doing, so I know they are planning on doing it.  If they don’t do it, we’ll worry about it then. But I can’t worry about that unless/until it doesn’t happen. We’ll still be here, with the sites and emails and calls.  I’m ready to go to Vegas tomorrow!

602 caller:  What symbol are they using for the zim?  Is it ZWN? What about the salaries – do they get paid on the first?  I heard a rumor that they get paid on the 10th.

Tony: Yes, it’s ZWN.  Pam says it’s ZWR for the 2008, series AA. I don’t know what their payday is… could be the first, second, fifth – there is no set time.  They say they will have regular paydays starting in August, but I don’t know which day.  When we find out, that will give us the information we need.  They are saying that the taxes and tariffs come in the first of August.

Caller:  I want to do the Christmas in July thing, that would be a great way to do the thousand-dollar tip.  Vegas, Vegas, Vegas!  And I hope it goes tomorrow, too.

615 caller:  I waited since 1am, and got kicked off at 9.30am.  [Appreciation] It takes a lot to put this together and stick with it.  My friend and I have been in this since 2003, and we saw Kuwait, so we could share things with you about people who have come and gone. [more of the same]  This thing is real.  There was a time when we thought seven cents would be a really good deal.  I’m blown away at how high the rates have gone.  When you buy something for a tenth of a penny and it comes out a thousand times higher, that is great.  I have two questions:  has the US government defined this as a currency exchange?  If so, what are the taxes?  Or is it an investment, and then what are the taxes?

Tony:  I don’t know.  Nothing has been defined yet.  Some who exchanged two years ago have paid no tax, and others who signed agreements with 11% or 17% taxes, because that is their agreement.  Hope for the best and prepare for the worst, which is 60%.  I appreciate that you guys have stayed in for so long, because I would never have heard about this if people hadn’t stayed in and kept the faith that this would happen.

Caller:  When you go to Vegas, get a bodyguard.

Tony:   Pam is calling me an idiot, just so you know. Pam?

Pam:  You  know, I called you a flying idiot catfish, because Ray and I were talking earlier, and someone said earlier that catfish have no brains and a big mouth.  You shouldn’t talk about a woman like that on the phone, you know.  “A tough broad?”  Okay, you redeemed yourself with the ‘pretty’ part.

RayRen:  It’s Marvelous Monday. Let’s see what today brings us.

Tony:  It was an exciting up-and-down weekend – it was specific times, everyone called in their teams, and here we are again.  Everyone is still on high alert, looking for any minute, just don’t know when the minute is.  The goal is between now and the first, when the new taxes take effect and the ministers cut their salaries in half.  Be ready with your Ten Things and be ready to go, because when this happens we will be moving fast. Check the site, because it will go static.  We will send out a tweet and get the information to you as soon as possible.  If not, we will do our own thing.  Enjoy the rest of your day! 


Hello Everyone. Earlier in the week I referenced a window approaching for a possible RV opportunity coming close at hand. Well it’s now here and everything is looking fantastic.

I recommend everyone to go out to my news letter dated 7/22  if you have a chance and read it first prior to diving into today’s news.

Today’s NewsToday is Monday July 27th and still no RV, and this also includes Kurdistan….lol…...  No surprise to me!

I will try to make this news letter very short since I need to get right to the point of what is happening in Iraq.

So as I have told you many times already each week the CBI, GOI, IMF and the USA (and any other countries that would like to attend) hold a meeting to discuss IQD currency reform (as well as other issues). In last week’s meeting they discussed allowing the project to delete the zeros to progress but conditionally on getting the Amnesty bill passed and payouts on HCL to the citizens. This is not rumor but FACTUAL.

So as a result of this meeting finally then on Thursday 7/23 the Amnesty bill was signed off by the Council of Ministers (cabinet of the prime minister) and sent over to parliament for discussion and a final vote.

It was thought they could expedite this bill since they now have a new legislative short-cut process for such occasions if house leader al-Jabouri wishes to use it and parliament agrees. This new process means that parliament can discuss a bill and vote on it during the same session essentially bypassing the constitutional requirement for the necessary two readings and go directly to a vote. This is of course a temporary measure implemented to help get them out of this financial mess and security crisis.

The question now is will they use this new process?  The hope was that this final vote on Amnesty would have been taken on last Thursday 7/23 or Friday 7/24. However parliament decided to take a short recess until meeting again on Monday and the vote had to be delayed. So lots could happen this week.

You might be saying to yourself right now – How dare they take a recess at a time like this? Am I correct?

Personally I believe that al-Jubouri allowed this recess so they can have time to read the bill and  hash out any differences over the weekend - prior to Monday’s session. As you may know it is a controversial bill since it will take away Amnesty from any citizen who has spilled Iraq blood (including politicians). You can see how this will effect Maliki and his goons. It will also release many of the political prisoners, whom are strong opponents of the Dowa party and the radical Sheite militias.

So what I was told over the weekend is that the distribution of the lower denominations depends on the passing of the Amnesty bill. This is why I believe it may in fact get passed this week and we might see our lower denoms distributed OFFICIALLY  throughout ALL THE PROVINCES. Why do I emphasis the word officially? I emphasize it because some of the lower denominations are in fact out on the street already. Some of the ATMs were loaded and went online last week. People began to withdraw cash using their Ki-cards. This was soon discovered and quickly shut down. Also some of the smaller bank branches (such as in Kurdistan) were sent notices that the new currency would be activated last week and so they too began to distribute them as customers conducted daily transactions. They felt they were only following instructions. Then later in the week the process was stopped for failure to push through the Amnesty bill.

We all should know what this means…right?  The rate has to change in order to do this move. The rate did not change and so the process once again came to a halt last week. We wait to see what happens this week.

Last week I also presented you with an article statement from the head of the finance ministry and they told us at that time it was “URGENT” and “THE BEST POSSIBLE TIME” now to complete the process to delete the zeros from the currency (or drop the larger 3 zero notes, the provisional currency).

It is the feeling too of many economists in Iraq that this IS THE ONLY SOLUTION to getting them out of their financial crisis. So they don’t really have a choice. We also now see their currency rate fluctuating wildly as of lately lately and this is not good or helping to solve this crisis. The IMF is also strongly suggesting now it the time.

I also strongly believe they will be paying out oil royalties too on these new National (or Unified) cards this week. We have seen a couple articles telling us why they have been late in this process. They said this was due to getting the necessary electronic equipment setup and installed for the process in many of the provinces. This equipment is used to produce and process the cards.

Once again I will add to be careful and do not confuse these cards - Ki-Cards vs National Cards. Both are SMART cards but they want to combine the govt social programs payments (as on the Ki- Cards), on the National cards with  the oil royalties and identification card all on one handy card. This is the card we all have been waiting so long for. They wanted to complete this for the August timeframe of payouts for the social programs.

I feel that all the provinces may not get paid oil royalties this week (in fact I am sure of it) but the beginning of the process will show to the IMF and the USA they are making good on the HCL law to distribute these funds to help the people instead of just making the fat politicians even fatter (with their huge salaries and perks).  I have told you all along this is something that is NECESSARY to see any RV. We will witness this very soon.

So this brings me to yet another topic. The article relating to the reduction of salaries. Did you read that article?

Below you will find the article and let me now explain it. This is part of the scaling down process of the Iraqi government and showing solidarity to the people that the government can standardize wages and stop the unfair  favoritism in the political process. Iraq is trying to institute a government pay scale that allows for fairness and equality according to a standardized pay scale (much like in Germany and the USA) and not like from the previous two administrations as it was based on favoritism and bribes. In other words they are still cleaning up the corruption and mess left behind from Nori al-Maliki.

So please do not read into this issue, it is simple and has ABSOLUTELY NOTHING to do with the RV or impacts the RV in any way. Again many gurus have made a pound of intel from an ounce of truth over this announcement and are using it to hype you up.

Article Follows:

BAGHDAD / Sky Press: Faleh Hussein considered the parliamentary finance committee, on Thursday, the money to be provided by officials of the decision to reduce the salaries are not worth anything compared to the size of financial corruption and waste of public money in the state, noting that the parliament will hold its next Saturday to discuss the decision.
He said the Commission's decision Ahmed Hamma Rashid for "Sky Press," "The House of Representatives its meeting held on Saturday to discuss the Cabinet's recent decision to reduce the three presidencies and the salaries of officials," adding that "so far, the decision is known in terms of reduction in salaries or rate allocations, and this needs to be a thorough study and discussion between the Council of Ministers and the House of Representatives."
The money that would accrue decision to reduce the salaries are "not worth anything for the financial corruption rampant in most government departments and wastage of public funds by officials," calling to fight financial corruption to reduce the waste of money.
The Council of Ministers approved in its meeting last Tuesday to reduce the salaries of the three presidencies and officials allocations by 50%.
Article Ends

My next guess is that also very soon we will see this infamous “basket” of laws being announced since they are all inter-connected together and must be  implemented all at once to make any sense.

We are in the last week of July already and so it is also time for the GOI (Abadi’s cabinet) to make their reports to parliament on the progress of forming the government Unification efforts. Did you notice they have been doing this once a month now since October 2014.  I told you about this in my past news letters too. I even presented you with past minutes for this meeting.

Something many may not also know is Dr. Ayad Allawi is really becoming impatient about Abadi in not being able to get these needed laws passed. So with this report card timeframe coming this week he is going to suggest (hammer down on) that Abadi be replaced with another leader who can complete the job. His most outspoken complaint is of course the lack of officially appointing his as head of the Federation Council thus completing this council and meeting yet another constitutional requirement.  In the back of our minds don’t panic since we all know this will not happen. Abadi will remain as prime minister and Allawi will get what he needs.

Will this report card meeting get very negative? I doubt it since Abadi knows he must announce these laws, get Amnesty passed, pay these oil revenues and complete this currency reform process (he has promised also as part of forming the government back in 2014) and he does not want to rock the boat any more than he has to. This meeting is actually good since it will put yet more pressure on Abadi and GOI to get the job done.

Where is Dr Shabibi?
I’d like to address questions from many regarding Dr Shabibi and his current role. I know for a fact that Dr. Shabibi is still in a consultation mode with Iraq. I presented articles to you in the past on this topic.

Remember this is his country too and he has worked with Iraq in some capacity for a very long time. He is more than willing to assist but he has also stated he can not help Iraq with financial matters to his greatest capacity unless they are willing to advocate the current proxy governor of the CBI and allow him to return to his position, as head of the CBI. He no longer wishes to work just behind the scenes having many of his recommendations ignored.

In other words he needs to be officially placed back in to his rightful position with full authority and without interference from the GOI to do run the CBI. This was a condition he set upon the GOI if he was to return. As you may know Abadi has asked him to return and this was his response to his request. To date nothing more has come of it. We still wait for his return. We do know Dr Shabibi has returned to Iraq.

Status of Maliki
We all should know by now the statements made by Maliki about Saudi Arabia. Seems this might be the icing on the cake that will speed up his demise.

Khalil al-Dulaimi, head of the international legal body Maliki's comments and said, "We condemn and deplore the people of Iraq and the strength of national reject the occupation and for each secretions illegal, statements provocative to Nuri al-Maliki, which attacked the Kingdom of Saudi Arabia and Maatertb for these serious irresponsible and provocative of abuse of a country with a weight and weight statements in the Islamic and international arenas, and even beyond those abuses and statements expressing the same sectarian hate and patient, than to provoke the feelings of all Arabs and Muslims, "he added," these statements that represent incitement clear on terrorism and a threat to the Islamic Arab, regional and international security and directly threatens international peace and security, especially since Shiite militias terrorist extremist in Iraq leaders such as confident Battat already threatened to bomb and invade the territory of the Kingdom in the light of the sectarian incitement continued to the owners when he was president of the Government of Iraq at a time when Saudi Arabia has repeatedly declared that it is against extremism and terrorism and embodied that reality on the ground."

"that the people of Iraq and its national strength rejects and strongly condemns such irresponsible statements, and at the same time we announce the formation of an international body composed of senior international lawyers to prosecute and sue al-Maliki for having committed serious international crimes”.

Peace and Luv To Ya All.