Friday, August 11, 2017

Dinarland From Kaperoni & others


Puerto Rico, It is up to you. 

8.11.17 Puerto Rico is only 100 miles long x 35 wide,, but it is the only nation in the world with the most Dinars per square feet. And its government both US and local know of such and so does it primary banking system.

Its governmental debt has placed the island and its people into bankruptcy.  But this is a known fact gone old, but what is new is its governments and banks intention to use a  law created by our last president which states that when the credit or debit of the country is un recoverable that they can go into all people's accounts over $100,000. and extract its monies to pay its malicious debt.

This intent is now going on and they are trying to negotiate it into effect with the Chinese who have acknowledged that this is unlawful,illegal and not right by its people or by any means. For those of you living in P.R. now you know there intentions. Now you can accept this robbery or do what is correct and that is to establish your accounts elsewhere away from the hands of these thieves. It is up to you.

​Be forever blessed, Na'maste Bluwolf


8-11-2017   Intel Guru Bruce    We know that Iraq was released from Chapter 7. They had an announcement yesterday from the UN releasing them from Chapter 7. The IMF also made an announcement last night essentially saying the same thing that they are released.  To be released they would have to have a rate on their new Iraqi Dinar. We do not necessary have it on the CBI site or totally global out there yet.  The last thing that needed to happen for Iraq to be released from Chapter 7 was the new rate, and then have a new international tradable currency.  Will they transition directly into Chapter 8? We don’t know that for sure. I thought they automatically did that.   There is a holiday today or was a holiday today [Thursday] in Iraq. We believe the reason for the holiday was because they were in fact revaluing their currency.   [post 1 of 2....stay tuned]

8-11-2017   Newshound Guru Aggiedad77
   Frank [Guru Frank26] ...offered up a few thoughts...let me share...what he said... great news today from our friend (Walkingstick) ...a plethora of information...information that he believes IHO that we will see the results of in 2-3 days...Time for the media to catch up...Frank says that so much is happening...no we don't know the date or rate...but there is sure a lot of activity happening right in front of us...right before our eyes...So that is it in a nutshell for now...the BEST is coming.  

8-11-2017   Newshound Guru G-Lin   "Report: Electronic payment removes the "dinar" from the pockets of employees"  Quote:  "The salary of the employee will be 2000 Iraqi dinars (less than two dollars), regardless of its value."    Well to me it is saying that there may be plans for a different value for the dinar. At todays rate of 1260 they are getting $1.59 for 2000 dinars. If that changes to a 1 to 1 they would receive 2000 dinars worth a lot more in purchasing power than that $1.59. In Iraq 2000 dinars will always be 2000 dinars. A change in value is what we are looking for of course. That 1 to 1 means something totally different to in-country versus what it means to us. We be dancing in the street.   I just liked that they said " regardless of value." I can't imagine the value going anywhere but up. All JMO.

8-11-2017   Newshound Guru Kaperoni  Article:  "Trade Bank of Iraq: the global market began to trust the future of Iraq's economy"    [Ok then lets show the world that your currency isn't toilet paper any more then...Let have some value added to it...]   ...they cannot just add value to the dinar arbitrarily.  And the CBI would be foolish to do so..since they are [in] the business of making money.  The dinar will rise in value as this investment flows into Iraq and the world gains more confidence in Iraq.  Iraq needs to get in compliance with the IMF so they can move to Article VIII and let the process begin.  What happens from there will be fun to watch.  One thing is for sure, Abadi is hyping this little bit of success.  Hope it works out.

The Big call w/Bruce Intel only

Restored Republic via a GCR as of Aug. 11 2017

Compiled 12:28 am EDT 11 Aug. 2017 by Judy Byington

A. Aug. 10 2017 The Big Call, Bruce: Thebigcall.net: 712-770-4016 pin123456#

1. From info that came in since last Tues. Aug. 8, we could be notified very shortly (with the 800#s).

2. Iraq has been released from Chapter 7. The IMF made that announcement last night Aug. 9.

3. For Iraq to be released from Chapter 7 they have to have a new rate on the Dinar that could be used internationally.

4. There was a holiday today Aug. 10 in Iraq because, we believe, they had revalued their currency.

5. The Iraqi ATMs are now operating with the lower denominations of the Dinar in Iraq, Saudi Arabia and Jordan. That was an indicator that the RV had taken place.

6. Iraqi citizens who have their new Qi card have a settled in two digit rate on them that was valid both inside and outside of Iraq (internationally).

7. The Zim bonds and other platforms have been pushed to be effective next Mon.-Tues. Aug. 14, 15. Those currencies needed to be exchanged 24-48 hours before that time. (That means we could be exchanging by Sat. Aug. 12, or Sun. Aug. 13.)

8. Everything out West has been rolling out smoothly.

9. The SKRs are now all preloaded so they can be effective with the shotgun start.

10. Yesterday Aug. 9 there were many exchanges that took place, some were Sting Operations that were very successful.

11. We could get the 800 number at any time.

12. We are in Tier 4, the Internet Group. Parts of Tier 4 have already started exchanging out West.

13. The rates were still very good.

14. At your initial bank appointment you could have a skeleton revokable trust set up and then have up to six months to exchange that trust to an irrevokable trust.

15. Let them know how much you need for your humanitarian projects within the first 90 days so they can set that liquidity up for you.

16. You can set up longevity on your accounts for 50 years.

B. Aug. 10 2017 11:23 pm EDT Bluwolf Intel: "Surprise Call at Any Instance Now" - Bluwolf Intel Update 8-10-17

Everything is so quiet coming from our bank sources. Intel is so slim and non transparent at this moment. I for one am waiting for the surprise call at any instance now, so please bear with me. Na'maste Bluwolf


C. GCR/RV Summary of Events as of Aug. 10 2017: Judy's GCR/RV Summary of Events as of Aug. 10, 2017

The global USN T4 authorization hold was said to be lifted at midnight Sun Aug. 6.

On Aug. 7 French banks were redeeming ZIM at 1:1.

On Aug. 7 Indonesia denominated their Ruphia and put out lower denominations.

The RV window was said to remain sometime between Aug. 8 to Aug. 21

On Aug. 8 there was confirmation that the Dong rate was over $2 on both front and back US bank screens.

On Aug. 8 out West certain SKRs and groups were said to have been paid out.

On Aug. 8 certain media around the globe were said to be given access to sensitive information connected to GESARA or the GCR.

Some people have been told they would have access to their SKR funds by Aug. 9.

On Wed. Aug. 9 Iraqi PM Abadi held a press conference and stated his country's exit of the UN's Chapter 7. Currency365 - Abadi "We Have Exited Chapter 7"

On Thurs. Aug. 10 there was an inconclusive report that the IMF announced that Iraq was Article 8 compliant.

It was estimated that it might take up to 48 hours to activate all SKRs, or by Friday Aug 11.

In Iraq the ATM's were to be fully loaded (fils and lower denoms) on or by Aug. 20.

In Iraq the lower denoms were to be available by Aug. 21 with the 1:1 rate ratio in effect.

On Aug. 21 Iraqi citizens were to be paid at the 1:1 ratio.

In Iraq 4 million cards were being mailed to citizens with a activation target date of Aug. 21.

Contractors in Iraq were being told the new rates would be effective Aug. 21 and they would be able to pay their staff at the new higher Dinar rate.

Trump was said to supposedly be on a working vacation until Aug. 21.

All global financial reforms were to complete worldwide by Aug. 21.

The date of Aug. 21 is also when there will be a rare total solar eclipse that hasn't happened since the Cabal's USA, Inc., was founded on Aug. 21 1871.

Aug. 21 would be a very meaningful date for the announcement of our true restored Republic, our "interim" President, Paul Ryan, "interim" VP Ben Sasse and General Joseph Dunford. The announcement should include NESARA and the Gold Standard.

The public international revealing of the Iraqi Dinar was supposedly scheduled for several days after Aug. 21.



Currency365 - Abadi "We Have Exited Chapter 7

"Exited Chapter 7?" - Thurs. AM KTFA Thoughts, News w/ Frank26, DELTA

Restored Republic via a GCR: Update as of Aug. 10, 2017

Restored Republic via a GCR: Update as of Aug. 9, 2017


 Thursday Update from TNT  8-10-17

1. Iraqi PM Abadi held a press conference on Wed. Aug. 9 and stated his country's exit of the UN's Chapter 7. Currency365 - Abadi "We Have Exited Chapter 7"

2. Elmerf123456: Exit from Chapter 7, there is no bigger news. https://twitter.com/IraqiGovt/status/895272138881544192/video/1

3. Inconclusive report: The IMF has announced that Iraq is Article 8 compliant.

4. Kuwait has supposedly received its last payment.

5. If these statements prove to be accurate, Aug. 21 may be a moot point.


E. Aug. 10 2017 11:34 am EDT Iraq exited Chapter 7 KTFA: "Exited Chapter 7?" - Thurs. AM KTFA Thoughts, News w/ Frank26, DELTA

1. At mark 1:16 it is in English Abadi: "Iraq also exited from the UN's Chapter Seven" PM praises the development of Iraq's economy and encourages investment and diversification in his weekly press conference: pic.twitter.com/TUGjYNBzVG

2. Frank26: Whoa! EXITED CHAPTER 7??? Wow!!!

3. Al-Arabi newspaper report, "There are efforts by the Iraqi government to expand the dependence on electronic payment cards (ATM), to give employees salaries, which paves the way for reducing the deal in paper currency "dinar."


BGG   [Iraqi Prime Minister Abadi announced the below on the Iraqi Govt Twitter:  THE OIL-FOR-FOOD FILE HAS BEEN RESOLVED COMPLETELY]   Apples and watermelons. Ch 7 designation and the Oil-for-Food are different files entirely. 

The last remaining Oil-for-Food money was reportedly turned over to Iraqi control. However, to imply this means the lifting of all Ch 7 "sanctions" is not an accurate analysis. 

There really aren't much in the way of Ch 7 sanctions left in force anyway. Further, I highly doubt the UN completely removes the Ch 7 designation anytime soon.  I suspect they want the latitude to go in and help settle things down again - if needed.

 As they did with ISIS. None of this is directly detrimental to a value change in the currency...If it were - How would it have been possible for the CoM and CBI to have been planning a value change back in 2012?


Late Thursday Night:

Chicano69:  Hey Frank did you ever connect with WS last night? 

Frank26:  15 minutes ago !!!

Blaquebeauty:  ...does this mean you got the call...

Frank26:  YES !!! !!! !!! ................ WOW !!! !!! !!!  

Frank26:  RECEIVED SIR ...... TY ..... OH MY GOODNESS !!! ......... HOO RAH !!!  

Dogmagee94:  Let me know if I'm close:

1. ATM's turned on
2. LD's loaded, or will be loaded shortly
3. 1-1 showing on paycheck stubs for Iraqis

How did I do??
if any of these have happened then I'd just like to say....BOOM!!!!!!!!!!!!!  lol
Love you brother!

Walkingstick:  Iraq is accelerating the transition to paying employees' salaries electronically

The steps of the Iraqi government to move towards the payment of salaries of employees electronically, within the framework of an integrated program, experts say it will contribute to increase the activity of the banking sector and raise the efficiency of payments and reduce the handling of cash and will have positive economic repercussions.

published in 2017/08/11

BAGHDAD - The Iraqi government is struggling to expand its dependence on electronic payment cards to give employees salaries, paving the way for reduced paper currency transactions.

The government in Baghdad has adopted a plan to implement the project to pay all salaries electronically, and hopes to complete it fully in 2020.

The project means the transfer of salaries of employees in the public and private sectors of salaries received in cash from their departments, to be received from government or private banks.

The process is supposed to be done through a special account opened to the employee in the bank and withdraw from it by electronic payment card or withdraw money from the bank in cash.

Iraqi experts and officials say the system is rampant in many countries as the banking sector expands its business and services.

They pointed out that the implementation of the project will contribute greatly in reducing the time and effort and cost in the transactions of banks and transactions of citizens of various financial, in addition to reducing the handling of cash.

The appearance of Mohammed Saleh, financial adviser to Prime Minister Haider Abadi, that the project to settle salaries is in accordance with plans set for him by the government.

Mohammed Saleh's appearance: The project aims mainly at raising the efficiency of the payment system and activating the banking sector

He explained that the project includes several objectives, including raising the efficiency of the payment system and revitalizing the banking sector through the granting of loans and diversification of other services.

"Keeping cash inside and not trading in the market leads to a huge loss of up to 8 percent of GDP, which is estimated at $ 12 billion," he said.

"The salaries of state employees, retirees and social welfare constitute 50 percent of the state budget, equivalent to 25 percent of gross domestic product, an important gateway to make their salaries online," he said.

The number of Iraqis who receive salaries and pension pensions, along with monthly subsidies about seven million people. The government hopes to introduce them to electronic payment cards before 2020, while accurate figures are not available for the private sector.

Saleh believes that financial coverage is the biggest way to control government spending because it will lead to a shift from manual payment to electronic payment, as well as knowledge of those who trade cash.

There are 19 public, private and foreign banks involved in the process of settling salaries, and the number of employees in the public sector, who earn about four million and one million employees in the private sector.

"The plan expires in 2020 and about 5 million Iraqis are now between employees and retirees as well as social benefits using the card to get their salaries," he said.

The public sector employees annually receive more than 35 trillion dinars (27.5 billion dollars), according to a previous statement to the spokesman of the Ministry of Planning and Development Cooperation Abdul Zahra al-Hindawi.
Ali Tarek: Opening bank accounts for employees this week will start within the project of localization of salaries

Ali Tariq, executive director of the Association of Private Banks in Iraq, says the work is still underway in the project to settle salaries of employees, which aims to develop the banking sector.

He pointed out that it was agreed with the Ministries of Health and Electricity and will begin opening accounts for employees during the current week, pointing out that the shopping process will be through credit cards without any deduction, and can be used ATMs deployed in the country.

The World Bank is closely monitoring with the federal government in Baghdad the issue of settling salaries because it increases the level of economic activity.

"The project of settling salaries, which was called for by the Council of Ministers and recommended for its implementation, has been taken into account and is of great importance by the Central Bank," said Doha Abdelkarim, director of payments at the Central Bank.

She pointed out that the Central Bank was the first to implement the project to settle salaries to its employees and the experiment was successful. "The bank has received significant guarantees from the banks to work on the project to settle salaries and any bank will be held accountable for the distribution of salaries of employees."

The Ministry of Electricity, in a statement recently that the Iraqi Trade Bank of the government will issue "MasterCard" for employees of the ministry free of charge once in the case of opening an account within the bank, and the second time the cost of the issuance of $ 32 in case of loss.

The bank will set up ATMs at the Ministry's headquarters to pay employees salaries on time when the information is sent to the bank by the ministry. The salary of the employee will be two thousand dinars (less than two dollars), regardless of its value.

She explained that the employee has the right to withdraw his salary from any ATM outside the headquarters of the Ministry and bear the cost of less than 3 dollars, if the bank outside the framework of the Iraqi Trade Bank.


Iraq is accelerating the transition to paying employees' salaries electronically

Hisharvest:  Activating, start, accelerating....(thumbs up)


DLR:  "Don't be gloomy. Do not dwell on unkind things. Stop seeking out the storms and enjoy more fully the sunlight." - Gordon B. Hinckley


Douchie for August 5-11 , 11 AUGUST

This was a great week for dinar douchebaggery.  Lots of good competition.  

Before we get to the finalists I have to mention this.  On Friday Dan "Checkmate" Atkinson said:

I believe 80% of the intel we've been getting is wrong...I also believe as we move closer to this event its probably closer to 90% somewhere...it is just flip flopping every other day...now more than ever the news is very very important because we definitely can't depend on nothing else...I hate to say it but nothing else really has any credibility...what do you believe in? Absolutely not the news but it gives us some kind of a guideline...A rare moment of honesty from the 2011 Douchebag of the Year.  But it makes one wonder .... if 80% or 90% of his intel is crap, what exactly are his members paying for?

The 3rd runner up is our old friend Kaperoni.  (NOTE!  Kap contacted me and stated that this is from five months ago.  Somehow it just got recycled on Dinar Guru.  My apologies.  But my observations stand.)  On Wednesday Kaperoni said:

Now this quote is simply amazing. “This does not affect the value of the dinar so far but it opens the dinar to the free currency market such as against the dollar, etc.”It is telling us that the value of the old dinar (3 zero notes) is not effected. Clearly, this is what we want. Some may want to interpret this saying “yes the value does not change and the exchange rate also stays the same,” ie (LOP) Well this next quote…puts an end to that theory as well...“If three zeros were lifted from the IQD, this means the IQD becomes stronger 1000 times in terms of value.”This in itself is all we need to be assured of our investment. But the good Dr. [Bakri] gives us the dagger in the LOPster heart with this gem of an example…“For example, a pack of cigarettes that was selling for 1000 dinar would be only 1 dinar. If it was a conversion like that, if the three zeros were lifted from the previous currency, this means the old 1000 dinars will buy 1000 packs of cigarettes instead of 1.”http://www.dinarguru.com/#ixzz22zS0lKlH

Actually Dr. Bakri makes a very compelling case for a lop when he says "This does not affect the value of the dinar" and "a pack of cigarettes that was selling for 1000 dinar would be only 1 dinar".   If the value of the old dinar isn't affected but the value increases 100,000% for the new currency, that is the very definition of a three zero lop. (I hate these cigarette illustrations. All they do is confuse people.) My take on what the good doctor is saying is that the old Saddam dinars (the previous currency) could have been lopped, which would have made the IQD a thousand times more valuable than it is now. (Thus you would have been able to buy 1000 packs of cigarettes for 1000 dinar instead of only 1 pack.) Why didn't they? My guess is that they wanted to wait until they got inflation under control and things stabilized to their satisfaction. That way a lop would have a better chance of succeeding. The immediate need in 2004 was to get rid of the Saddam dinars and get the Iraqi people used to using a new currency which was reflective of their new political and economic systems, as well as demonetizing the dinar held by insurgents/terrorists. The need now is to simplify cash transactions and reduce the money supply. 

Here are a couple of better accounts of what Iraq is planning. 

In 2010, the Central Bank of Iraq announced their plans to redenominate the Iraqi Dinar to ease cash transactions. The intention would be to drop three zeros from the nominal value of bank notes; but the actual value of the dinar would remain unchanged. That would mean that 1,000 IQD (pre-redenomination) and 1 dinar (post-redenomination) would both be worth the same amount in US Dollars.


BAGHDAD -- The Iraqi Central Bank is planning to redenominate the national currency in an effort to ease transactions and allow people to carry less paper money, RFE/RL's Radio Free Iraq (RFI) reports. 

Mudhhir Muhammad Salih, a member of a Central Bank advisory panel, told RFI that a plan has been made to remove three zeros from the currency and phase out the current banknotes late this year.

Salih said by the end of 2010 the new banknotes will be fully introduced while the old banknotes will be gradually removed from circulation. He did not specify when the new notes would be issued.

Both will be legal tender in Iraq until the old notes are completely withdrawn.

Iraqi officials have had a long-running plan to redenominate the Iraqi dinar. In 2006, the Finance Ministry recommended to the Central Bank that it carry out such a plan. 

Salih pointed out that banks are having a hard time accepting cash savings and deposits, but by dropping the zeros it will make it easier for both the banks to deal with their customers and for the general public to carry money. He said some 80 percent of Iraq's money supply is cash in circulation.

Salih added that in 1990 the value of banknotes in circulation was about 25 billion Iraqi dinars but is currently some 25 trillion dinars.

Economic analyst Hilal al-Tahhan told RFI that the bank's move is overdue. He said he expects the currency change to go smoothly because of the decision to allow both the old and new banknotes to coexist, leading to less turbulence in the economy.

The current exchange rate is 1,167 Iraqi dinars to the U.S. dollar. 


Our 2nd runner up is Brad Huebner from the BH Group.  On Monday Brad said:

As you know, the Iraqi dinar and all of the massive natural resources that are now discovered and the tremendous amounts to come in the future, are the catalysts to create the capital for this realignment to happen. Hopefully for all of you that are losing patience this shows you how important the Iraqi dinar is, and why the United States was the creator of the original plan and sacrificed so much with our involvement in the Gulf War. We don't do anything without some type of reason, and we will benefit greatly as we need to because the United States is the most bankrupt country in the world with more debt than anyone. The plan was supposed to go much quicker as we all know, but much like it did under the Bush/Clinton administrations for the Kuwaiti dinar revaluation ... and there were many mistakes made along the way this time, but there was no road map to follow for the plan. I personally believe only countries, governments, and privileged individuals were the only ones who were supposed to benefit from the original plan. Fortunately or unfortunately - however you want to look at it - things dragged out way too much long, and this plan started to leak to other influential people and it started spreading like wildfire until it actually got down to the everyday common man on the street. These events and timeframes exacerbated the total amount of dinar to what some estimate to be approximately 90 trillion today. However, the vast amount of natural resources that are being discovered in Iraq all the time will help the value of the dinar to come out high enough to help realign the world's financial crisis and reward us investors handsomely. Consider that only about 40% of Iraq has actually been explored for its natural resources, so I'm sure there will be many positive finds that will help Iraq have the highest valued currency in the world.

I've addressed many of these points before, but for the sake of the new readers I'll repeat.
The global realignment is a theory, as is the idea that Iraq's natural resources will be instrumental in executing this realignment, so no ... we don't "know" this. That's why it's called speculation. 
The sacrificed lives were part of a geopolitical strategy to remove a perceived threat to our national security and transform Iraq into a thriving capitalist country in a region that has been a breeding ground for terrorist organizations. They weren't sacrificed so that Iraq could in effect hand over trillions of dollars to nations and investors holding dinar. 
There was no Kuwaiti dinar revaluation, and therefore no revaluation plan for the Bush/Clinton administrations.
The idea that "we weren't supposed to know" is a pumper line. If we weren't supposed to know then we wouldn't know. It's that simple. Think about it. Trillions of dollars? If there was such a plan and somebody leaked it out they'd certainly end up dead, and Brad wouldn't be blabbing about it on the internet.
Even if only 40% of Iraq has been explored that has nothing to do with the value of their currency. If they discovered a trillion barrels of oil right below the surface tomorrow that wouldn't affect their currency's value because it's being backed by their foreign currency reserves, not their oil. And even if their GDP tripled overnight that wouldn't necessarily mean a higher currency value. Their GDP and foreign currency reserves are growing now but the value isn't changing, is it? Brad is either intentionally misrepresenting how Iraq's currency valuation is determined or he's ignorant of that. Either way this isn't who you want to listen to. 
Even if Iraq lops it's highly unlikely that they will have the world's most valuable currency any time soon. IMO it will take decades to climb from $1 to $3 for the simple reason that currency values don't move that much. It would create instability in the nation's economy.

Our 1st runner up is Vic1 from the Gatekeepers.  Should our winner be unable to uphold his duties as this week's Douchebag Vic1 will be the guy we turn to.  On Sunday Vic1 said:



$150 million would buy about 175 billion dinar.  If they bought every day for two months that would be 60 days at least, so 60 x 175 billion = 10.5 trillion dinar according to my math.  And that's just two months.  So it could be more.  Are we to believe that the US Treasury bought over 10 trillion dinar in the months preceding the US troop withdrawl?  Really Vic?  That would mean that upwards of $10 billion USD (in addition to the $7 billion or so per month that already comes in via petrodollars) flowed into Iraq during those months.  Why wasn't that reflected in their foreign currency reserves?

(Iraq's foreign currency reserves total in Sept. 2011 was about $58 billion.  As of May 2012 that figure grew to about $63 billion, less than half of which was USD.  So we can conclude that the total increase from September 2011 to May 2012 was about $5 billion of which less than half was USD, and most of that no doubt was petrodollars.  Where's the big spike from dinar sales to the UST Vic?)

This claim is based on a post Vic or one of his team members read at Dinar Vets.  It was posted back in December with little fanfare.


The original was posted here.

Let me just clarify first of all that this wasn't a news report.  It wasn't a statement from the GOI, the CBI, or the US Treasury.  It was an op-ed from some guy in Iraq who goes by "D. Father of judgment".  This same guy goes on to say that Joe Biden is betting on the destruction of the euro, that the US wants to take over Europe, and that the price of Iraqi oil will drop to $1.  Sorry Vic, but your great research here has basically just referenced an Arabish translation of a rant from some anti-American Iraqi wackjob.  Show me some documentation from the US Treasury or the CBI and we'll talk.

Now let me show you what CBI advisor Saleh said.

"As I think that the Iraqi currency amounts is very little out side and its there only in the neighboring countries like Syria, Iran, Turkey, Saudi.. etc, and it went there for a tourism and small trading process only, your question is that when the Iraqi Dinar will be a reserve currency for other countries, and my answer is that Iraq have a lot of goods and his abilities is very strong and if the steps goes right in the future the Iraqi currency will be a reserve currency for other countries."


He's saying that the dinar is only being held in small amounts by neighbouring countries.  

And now for this week's Douchie winner.  On Tuesday BGG did a solo conference call where he served up a smorgasbord of douchebaggery.  He stated:

  • News organizations can't call the dinar a scam any more than they can call the Canadian dollar a scam because it's a legitimate currency (I haven't heard anybody saying that Canada is going to revalue their currency by 100,000% or more, have you?  I guarantee you if they do, that will be deemed a scam)
  • He told his friend that there's no way you'll lose money on this thing because as soon as they become an internationally recognized currency the value will go up immediately (There's no guarantee that they will ever become an internationally recognized currency, or that they'll become one before they lop.  But even if they do, S. Korea's currency is the 11th most traded on forex and it's valued at $.000886, slightly higher than the IQD.  How much money are you gonna make if it spikes $.000029?  In short, there's no guarantee that the value of the dinar that speculators hold will ever increase in value.)
  • The dinar is an investment, not a lottery ticket (At first this seems to provide him with some credibility, but he has already stated that the value will go up and later he says it will probably go to more than $1.  How is that not a lottery ticket for somebody holding a few million dinar?)
  • Iraq's economy is booming and projected to keep growing at an enormous rate, and they're finding new deposits of gold and natural gas all the time. (Irrelevant since currencies aren't valued according to what's in the ground.  Iraq is backing the dinar with their foreign currency reserves, and those reserves only grow as Iraq's GDP grows which means that the value isn't likely to grow by more than 20% a year.  However, their GDP is currently growing at about 10% and their currency's value is stable because they're reflecting their economic growth by printing more money, not by raising the value.  So if they continue this practice the dinar's value wouldn't go up even if they quadruple their GDP.)
  • There's a 200 page report that was recently declassified that shows in detail "this whole plan", and it was written long before it was ever implemented.  (I'm assuming that he means the plan to remove Saddam, put a new government in place, and revalue their currency once things stabilize which will generate a windfall in the trillions to repay us for liberating them.  I'd really like to see this report, because I'm convinced that "The Plan" is a pumper fabrication.)
  • The current rate is UN imposed (Iraq's currency started depreciating 20 years ago when the sanctions were imposed, so I suppose the UN is indirectly responsible.  But they did not devalue the dinar as a pre-war strategy as some of these pumpers are saying.  The idea that the current value doesn't reflect their wealth based on their GDP is monkey poop.  The value is there.  It's just spread out over trillions of dinar and billions of USD.)
  • Shabibi has stated that almost all of the 000 notes are accounted for (Accounted for maybe.  Out of circulation?  I don't think so.  There's 30 trillion dinar outside of banks according to the CBI website.  We've read numerous reports about how the Iraqis aren't using the 50, 250, and 500 notes.  So what's left?  The ones with three zeros, of course!  The 1000, 5000, 10K, and 25K, notes.  Yeah, they're accounted for all right, but they're still in circulation both here and in Iraq.  And Iraq has to back every cotton pickin' one of them.)

As I pointed out a few weeks ago when you see dinar dealers, dinar site owners, and dinar intel providers all hanging out together you have to smell a rat or two.  And when you read the BS that BGG was putting out this week you know you're dealing with a douche.


Chat Room News Excerpts & Highlights Late Thurs PM 8-10-17

BobS: TEHRAN,— Iran has warned that a move from Iraq’s Kurdistan Region toward an independent state will result in the closure of the country’s border crossings with the region, Nazim Dabbagh, the representative of the Kurdistan Regional Government (KRG) in Tehran, said on Wednesday.

Iran has been clear in its position in reaction to the plans of holding an independence referendum on Sept. 25 this year, urging the Kurdistan Region to reverse such a decision, Dabbagh told NRT in a statement.

“It is improbable to happen [closure of border crossings by Iran after the referendum],” Dabbagh said. “No time has been scheduled for talks with Iran over the Kurdistan Region’s referendum, though they [Iran] have clearly told the Patriotic Union of Kurdistan (PUK) their opposition stance.”
​BobS: Tehran’s backing militarily for the Peshmerga forces in the fight against Islamic State (ISIS) may also come to an end in the outcome of holding the referendum, he added. “Tehran has expressed a willingness to help mend pending issues between Erbil and Baghdad.”

Iran seems to have the same position that Baghdad has towards the referendum on the independence of Kurdistan, he further said. The autonomous northern Kurdistan Region is expected to hold a referendum on September 25 with the aim to establish an independent state.

The decision to hold referendum has concerned Iran. On May 1, the spokesman of the Iranian Foreign Ministry, Bahram Qassemi, said Iran was against a referendum in the Kurdistan Region and stated it considered Kurds an important part of Iraq’s sovereignty.

The Kurdistan Region’s political parties, not including the second biggest party of Change (Gorran) Movement and the Kurdistan Islamic Group (KIG), came to an agreement on June 7 to hold a referendum on the region’s independence on September 25, 2017.

The decision was slammed by Iraq, US, UK, EU, Russia, Germany, Turkey and Iran. Kurds say the expected “yes” outcome would strengthen their hand in talks on self-determination with Baghdad, and would not automatically mean declaring independence.

BobS: MOSUL,— Abu Ghazi stood smoking a cigarette outside what used to be his home in Mosul’s Old City, where only the sound of the footsteps of a few soldiers on patrol and twisted pieces of metal and fabric flapping in the wind disturb the eery silence.

“They should just bulldoze the whole thing and start over,” he said, gazing at the rows of collapsed buildings with their contents strewn across the upturned streets.

“There’s no saving it now, not like this.” Hundreds of yards away on Wednesday Federal Police shot an Islamic State fighter as he emerged firing his gun from an underground tunnel on Makkawi Street.

Similar stories have been reported by aid workers and residents of West Mosul in the past few days. “West Mosul is still a military zone as the search operations are ongoing for suspects, mines and explosive devices,” a military spokesman said. “The area is still not safe for the population to return.”

BobS: However, in nearby Dawrat al Hammameel, with machines whirring in his workshop, Raad Abdelaziz said he has encouraged neighbors to return despite the still very real danger weeks after the government declared victory over the jihadists.

Just this week, his nephew, Ali, saw a militant emerge from under a house and try to injure some civilians before he was caught and handed over to the Federal Police.

But Abdelaziz, whose factory was up and running just two weeks after he returned to Mosul with his family, persists: We want people in the neighborhood to come back to their jobs.” He is already filling orders for water and gas tanks from residents intent on rebuilding. “Life is already coming back gradually,” he said.

FLOCKING OVER THE PONTOON Like Abu Ghazi and Raad Abdelaziz, dozens of those displaced by the fighting have returned to West Mosul, which saw some of the fiercest fighting in nine-month battle to rout the militants from their stronghold in Iraq’s second-largest city.

 At the northern pontoon, one of two remaining access points between East and West Mosul, hundreds walked towards the western half of the city, carrying suitcases, household goods and livestock. Others drove across the makeshift bridge in overflowing coaches. Ziad al Chaichi came back to reopen his tea shop in West Mosul a week ago, having fled his nearby home in March.

BobS: “Everything’s still a mess – we have nothing. No water, no electricity – we need the essentials,” he said in his shop where dainty porcelain tea pots hung from the walls. He was thankful that some people were buying his tea, including Abdelfattah, a neighbor who sat with a group of men outside.

“We want life to return here,” said Abdelfattah, 60, who came back to a partially collapsed home with his family about three weeks ago. “Not for us – the older generation – but for the children… Until then, we’re just sitting here patiently, drinking tea.”

PUNGENT REMINDER Even in death, the militants haunt Mosul’s residents. A handful of their bodies are lying around the Old City, a pungent reminder of the last ten months. “We wish they would just take them away,” said Najm Abdelrazaq. But unlike with civilian bodies, the police and the military refuse to allow it, he said.
BobS: “Why should we dignify them and remove the bodies?” one soldier said, when asked why the bodies were being left to rot in the 47 degree Celsius (116 Fahrenheit) heat. “Let them rot in the streets of Mosul after what they did here.”

Returnees are concerned about the smell and the risk of disease, but they’d rather have the bodies of their neighbors recovered first.

Around the corner from Chaichi’s shop, scrawled across several collapsed houses in blue ink was: “The bodies of families lie here under the rubble.”

BobS: HEWLÊR-Erbil, Iraq’s Kurdistan region,— Baghdad wants Kurdistan Region to withdraw from Iraq’s disputed areas and return to pre-2003 borders between the autonomous region and Iraq, said Massoud Barzani, vowing that the Peshmerga will not retreat from any areas that were taken with the blood of fallen soldiers. “This is their plan.

They say you should go back to the green line,” Barzani said, referring to the line that separated Peshmerga from the army of Saddam Hussein before the US-led invasion of Iraq in 2003. This line “was not the border of Kurdistan,” Barzani told a gathering of Muslim clerics in Erbil on Wednesday.

The pre-2003 borders exclude disputed areas such as Kirkuk, Khanaqin, Tuz Khurmatu, Makhmour, and Zumar from the Kurdistan Region.

BobS: During the war against Islamic State IS, the Kurdish Region has increased its territory by at least 40 percent, bringing many of these disputed areas under its de facto control after the Iraqi army withdrew in the face of advancing IS militants. Barzani said that Erbil has been given only two options when it comes to the disputed, or Kurdistani, areas claimed by both Erbil and Baghdad: retreat or stay.

He said Erbil refuses the first, while the latter may lead to military confrontation. “If you retreat, how can you say that to the faces of the families of the martyrs? If you stay, you will face a war,” Barzani said. Kurdistan has lost more than 1,700 Peshmerga fighters since the beginning of the war against IS.

 Barzani said that the planned independence referendum can work as a peaceful tool to settle outstanding issues between Erbil and Baghdad. He reminded attendees that “the culture” of resorting to military means to resolve the Kurdish issue has not changed in Baghdad after decades of genocide against Kurds at the hands of the Iraqi government.

He used the example of a 2008 incident in Qaratapa, near Khanaqin. At that time, he said, the Iraqi army had asked the Peshmerga to deploy troops to the area to clear it of terrorists. The Peshmerga carried out the task during which they lost 18 soldiers and sustained 46 injuries.

BobS: The agreement between the Iraqi army and the Peshmerga militias was that the Kurdish force would withdraw after the military operation. Barzani said that while the Kurds expected appreciation for their service, instead they received a message from the Iraqi army telling them they had 24 hours to leave the area or face a military confrontation.

“The bell rang for me then,” Barzani said, insisting that Iraq has failed to work as a country with Kurds on an equal footing. In June, Iraqi Kurdistan Prime Minister Nechirvan Barzani, Massoud’s nephew, said that from their perspective the times had changed and there no longer was such a word as “disputed territories” in their dictionary.

Nechirvan Barzani refused to call any of the areas disputed, calling on them Kurdistani areas. Iraqi Prime Minister Haider al-Abadi said last month that he would not “deploy tanks” to the Kurdistan Region in response to the referendum this fall, despite the vote being “unconstitutional, illegitimate.”

The Kurdistan Region’s political parties, not including the second biggest party of Change (Gorran) Movement and the Kurdistan Islamic Group (KIG), came to an agreement on June 7 to hold a referendum on the region’s independence on September 25, 2017.

The decision was slammed by Iraq, US, UK, EU, Russia, Germany, Turkey and Iran. Kurds say the expected “yes” outcome would strengthen their hand in talks on self-determination with Baghdad, and would not automatically mean declaring independence.

Sparky: @BobS interesting

Sparky: Didn't know Barzani is nephew of Mossoud
Sparky: That's interesting

chattels: good evening all
RickeyT: @chattels How-d, lots of crawfishing on Chapter 7
chattels: @RickeyT Likely " much ado about nothing ", eh ?
RickeyT: @chattels "it's unclear"

chattels: @RickeyT Chapter Seven can be both benefit and burden for Iraq. I suspect that Abadi is parsing words and that Iraq is enjoying benefits of Chapter Seven status, but crowing that they have exited.

chattels: The dollar is currently settling at 1261 dinars

chattels: [Ayna-Baghdad] Foreign currency markets in Iraq, on Thursday morning, stabilized the dollar exchange rate against the Iraqi dinar. The market price in the Kifah Stock Exchange in Baghdad was 1261 dinars per dollar, or 126 thousand dinars to 100 dollars, the same price yesterday.

The prices of selling and buying dollars in banking companies were: the selling price of one dollar 1265 dinars, or 126 thousand and 500 dinars, for one hundred dollars. And the purchase price of the dollar at 1255 dinars, or 125 thousand and 500 dinars, for one hundred dollars.

RickeyT: @chattels he wasn't bragging about the next step

chattels: International Monetary Fund: Iraq's economy has declined and its reserves have fallen to 45 billion dollars


chattels: , The decline in oil prices led to a decline in Iraq's foreign exchange reserves from 54 billion US dollars at the end of 2015 to 45 billion at the end of 2016, saying that "the financial pressure continued as the government deficit increased to 14 percent of GDP in 2016, after 12 percent In 2015 ".

However, the outlook for medium-term growth appears to be positive due to the expected improvement in the security situation and readiness to implement several infrastructure projects, although the risks remain high due to continuing security and political tensions, the IMF said.

RickeyT: @chattels if they do a country bankruptcy, where does that leave us?

chattels: Kuwait has been in contact for a long time with the countries of the world, the World Bank and Iraq itself to prepare to host a conference donors for the reconstruction of liberated areas of Iraq, which may be held in the first quarter of next year.

chattels: @RickeyT So many variables I think to speculate with any sense of confidence. Add to that my general ignorance of bankruptcy and well, .......... I do not know.

chattels: A US military base near Tal Afar


chattels: The official said the unit of heavy military vehicles of the Iraqi army Lieutenant Colonel Mahdi al-Khafaji said in a press statement that the establishment of the base came under consultations between US and Iraqi forces, last Friday, in the Zammar area west of Mosul.

According to Khafaji, the technical and engineering teams completed more than 50% of the work of establishing the base. The military base is to be used to oversee the liberation of Tal Afar from the control of the terrorist, according to the source.

chattels: Law: The liberation of Tal Afar does not require the establishment of an American base


chattels: announced a coalition of state law, the establishment of a US military base in the area of ​​Zammar west of Mosul and near Tal Afar in preparation for the liberation of the courts of gangs and terrorist.

The coalition spokesman Khalid al-Asadi said in a statement received by the agency all of Iraq [where] a copy of him, "he was afraid of what was reported by the US forces to establish a military base near the district of Tal Afar and the concentration of US special forces."

"Asadi said that" the contribution of any force of the international coalition forces in support of Iraq in its war against the bandits and the upcoming battles to liberate Tal Afar does not require the establishment of military bases. "

chattels: Coalition of State law is Maliki's political faction.

chattels: Coalition of State law is Maliki's political faction.

chattels: News List Political a wish Economic development Sports Reports and investigations Journalism General Stock market Photo album Android Apple Exchange Rates US Dollar Sell 1166 Buy 1164 Euro Euro Sell 1531.541 Buy 1530.775 the value the change % 30 102.18 -0.36 % Source: ISX Baghdad Political Submit

The parliamentary regions of Nina: Formulation of the final amendments to the law of the provinces No. 21 will be decided by a vote within the parliament 09/08/2017 16:24 BAGHDAD / The Iraqi National News Agency / nina /

The Committee for the Affairs of the provinces and regions parliamentary that the drafting of the final amendments to the law of the provinces not organized in the region No. (21) for the year 2008, is still under consultation and research will be decided by a vote within the House of Representatives.

"The law of the provincial councils No. 21 of 2008 included a set of amendments and proposals formulated in the final draft presented last week," the head of the committee, Soran Ismail, said in a statement to the Iraqi National News Agency Nina that "the draft law prepared by the government retracted the transfer Powers, which is rejected by the Committee under Article 122 of the Constitution and worked to ensure the steps of the transfer of powers and the disengagement of departments and transfer to the provinces.

​chattels: Formulation of the final amendments to the law of the provinces No. 21 will be decided by a vote within the parliament 09/08/2017 16:24 BAGHDAD / The Iraqi National News Agency / nina /

The Committee for the Affairs of the provinces and regions parliamentary that the drafting of the final amendments to the law of the provinces not organized in the region No. (21) for the year 2008, is still under consultation and research will be decided by a vote within the House of Representatives.

"The law of the provincial councils No. 21 of 2008 included a set of amendments and proposals formulated in the final draft presented last week," the head of the committee, Soran Ismail, said in a statement to the Iraqi National News Agency Nina that "the draft law prepared by the government retracted the transfer Powers, which is rejected by the Committee under Article 122 of the Constitution and worked to ensure the steps of the transfer of powers and the disengagement of departments and transfer to the provinces.


chattels: for the year 2008

Cree: Good evening all Hope there is some good news for us.,

Cree: @chattels OK there is too much to read. What is the story on any possible bankruptcy? I see RickeyT said something about it? IS this possible or just talk?

Cree: @chattels I was surprised to read that as the talk earlier today and yesterday seemed so very positive....

tman23: The Committee on Economy and Investment parliamentary, on Thursday, the government's borrowing from the Central Bank of Iraq 32 billion dollars to cover the military needs in the war against "Daash," indicating that high oil prices and reliance on non-oil revenues will pay the government debt to the bank .

The committee member Najeeb Najib said in a press statement that "the financial crisis that has gripped the country, as a result of the collapse of oil prices and drainage on the war against Daash, made the government in a difficult situation and having to borrow funds from the Central Bank," noting that " Of the Central Bank of $ 32 billion to cover state treasury bonds .

She added that "77 billion dollars, is the Iraqi reserve funds, but the consumption brought it down to 45," noting that "the improvement of oil prices and the arrival of the barrel to $ 50, and reduce expenditures, and the adoption of the policy of raising revenue through non-oil products, Reserve funds, which are considered funds belonging to Iraqis .

" The International Monetary Fund, considered in a report released on Wednesday, that Iraq is currently facing a dual economic challenge is to compensate for material losses resulting from the war against Daqash, as well as the decline in production and oil prices, noting that the decline of Iraq's foreign exchange reserves of $ 54 billion At the end of 2015 to 45 billion at the end of 2016.

Cree: @tman23 ao what does this mean?

Cree: @chattels What effect will the vote in September in the kurdistan region have? I think it strengthened their negotiating position. I am sure Iran and Turkey will be against it as will the GOI in Iraq. If they were to secede form Iraq, that could be a positive for the USA, I am guessing.

Cree: @chattels I would say good for the USA as it would allow Trump to negotiate with a strong government that has a strong army and give the USA a stronger foothold in the region the what we have now. Plus with their strong military we would not need or need as many boots on the ground....

Cree: @chattels any thoughts?

tman23: @Cree ...... The GOI borrowed 32 billion from the CBI...... Most likely know who bought the GOI bonds.....LOL

Cree: @tman23 sounds like slight of hand......

tman23: @Cree ... By all terms .......Iraq was bankrupt and still is........

Cree: @tman23 I am no international economist so it did not make sense to me about the growth in Iraq and how some made it sounds like there would be a boon in investments from the private sector....If oil production is down then they must be hurting...

Cree: @tman23 OK the leaders in Iraq are no Trump, but Trump was bankrupt and now is a billionaire (not getting political- it is business). While working in the health field be it practices or hospitals, I would show the health care organizations how to improve operations, collect their A/R (which we call Revenue Cycle) and turn a dog with fleas into a profitable organization.... It can be done,,,,, but in Iraq they do not have the experience to do it. This is real and disappointing...

tman23: @Cree ... I compare Iraq mentality to the owner of the rusted out Chevy Impala with $5000 worth of rims and tires.......

Cree: @tman23 Funny though, if they RV'd, they would have instant value (but that value would be lowered). Too much infighting to really get something done. That was why I thought the Kurdistan approach I mentioned seemed more doable form a business standpoint....

Cree: @tman23 true - but if someone could get the oil flowing, increase production and start to build the reserves.... Heck let the USA back the Kurds and soon this new Kurdistan could buy Iraq..... (not that they would want to).
tman23: @Cree ...... Kurdistan is more stable, safer, and easier to do business with..... They would have been leaps and bounds ahead if it were not for Baghdad......

Cree: @tman23 With Iran and the Turks having a kurdish population, an independent kurdistan would make some very jumpy.....

Cree: @tman23 I totally agree. that is why supporting them makes sense...... but then I am no politician....
Cree: @tman23 OK so sounds like a bummer of a night...... too bad.....

tman23: @Cree ..... I wouldnt say bummer......we are waiting for the end of Sept.......

Cree: @tman23 hey, we are good at waiting. In fact we are great at waiting.... :h5

Cree: @tman23 realistically, if they want to turn the country around and get the oil an dand make it profitable, they should consider subcontracting the management of Iraq and all their businesses to Israel!! (and I am not kidding) For a fee we can do it....

tman23: @Cree .....The only way Iraq turns ir around is for international businesses to open shop......but those businesses would be their for profit and need workers.......Iraqi's are use to vacations and poor work ethics......so then some of the work force would need to be brought in......

BUT even those from India that fled when ISIS came said they would never come back to Iraq......AND that word has spread !!....... It will take time to prove it is safe...

tman23: @Cree ...... US Embassy just put out notice in Baghdad and Basra to Americans...... Stay in your greenzone !!! And have security with you....... But no warnings for Kurdistan..........

Cree: @tman23 There are business that will take more risk but when I started businesses here in the USA, I would not go into the more troubling areas... I do not see major construction or business development with Iraq being so unsafe.....

Cree: @tman23 BUT WAIT, IRAQ could bring in the Israeli army to clean out the terrorists, and then let their Businessmen get the economy going. Iraq might need give Israel X barrels of oil per month forever in exchange for lcleanup and security but it could work.....

Cree: @tman23 I still like my kurdistan scenario better as long as they paid for the Dinar held in the USA!!

Cree: @tman23 Wait another idea. IF Iraqi's are so lazy, Abadi could sell Iraq and the oil and minerals to the USA and we could take their population and put them on wlefare.... That could work....We could even give them food stamps.....

Cree: @tman23 OK I'm done being ridiculous....

chattels: Thursday, August 10, 2017 Post Mosul Liberation Day 29-30 Aug 8-9 2017 http://musingsoniraq.blogspot.com/2017/08/post-mosul-liberation-day-29-30-aug-8-9.html

chattels: The Iraqi Security Forces (ISF) were still concerned about violence in west Mosul. The Old City district was closed off and a curfew imposed on August 8 after reports of Islamic State fighters appearing from tunnels and basements in the area.

According to the Federal Police insurgents were still a threat in the district, while a military spokesman told Reuters that the Old City was a military zone and off limits to civilians.

chattels: The United Nations commented on the differences between the two sides of Mosul. U.N. representative to Iraq Lise Grande remarked that the east was recovering quickly.

Almost all the residents in the east have returned home. There are only about 20,000 still displaced from there. Businesses are open, and life is returning. That compared drastically to the east where large sections were still destroyed, and most people were not back.

That gap is likely to remain for the foreseeable future. The east escaped the heavy fighting, while many parts of the west were levelled. The continued security incidents in the west are also scaring many people from making the trip back.

chattels: Preparations were still underway for the Tal Afar operation. The head of the Tal Afar council Mohammed Abdel Kader said there more than 1,000 IS in the district, 600 of which were foreign fighters.

There were also 400 families in Tal Afar, which he was afraid would be used as human shields. ..................... Tal Afar has to be attacked first. Whenever it starts it will not be a long fight as there are not many IS fighters left.

chattels: Abadi’s Momentary Refuge in Victory KIRK H. SOWELL Abadi is using the narrative of victory in Mosul to distract from dire policy issues that cannot be resolved in the near future. August 10, 2017


chattels: Amid insurmountable challenges, Iraqi Prime Minister Haider al-Abadi is focused on building a political narrative of a victorious and strong Iraq in which its courageous security services defeat a terrorist enemy while achieving national reconciliation.

The Mosul offensive, which began in October 2016, was based largely on political considerations as Abadi’s big reform push from August 2015 was running aground and the economy was facing a downturn due to low oil prices. Its conclusion offers Abadi an opportunity to use rhetorical bluster to get through problems he lacks the power and resources to resolve before next year’s parliamentary elections.

chattels: This effort to create a new narrative is necessary to get Abadi through the last year of his term. Both internal critics—including Iraqis with legitimate complaints and political rivals cynically exploiting problems—and external allies and donors are placing demands he cannot possibly meet before elections. This is driven by the fact that Abadi faces challenges both in terms of security and economic matters for which the state lacks the institutional capability to address.

chattels: On the economic front, there is need for reconstruction in liberated towns after the destruction of the Islamic State and the drawn-out operations against it. The government is touting a new reconstruction fund, but it is asking for foreign donations, as Baghdad does not have a single dinar of its own to rebuild war-ravaged areas.

For example, of the 100.7 trillion dinars ($86 billion) in total spending listed in the 2017 budget law, about 75 percent is operational expenses and the remainder is capital expenditures. To meet operational expenses, the central government needs over $4.7 billion in revenue per month, and with non-oil revenues modest, the bulk of that needs to come from oil revenues.

For June, due to a drop in oil prices, Baghdad brought in short of $4.2 billion. January was the only month this year that brought in enough revenue for capital investment, at $5.0 billion, while other months have been closer to the breakeven point. 
​chattels: Barring new sources of outside aid, the amount available for rebuilding is thus near zero, and has been for some time: cities like Ramadi and Fallujah long since liberated remain largely in ruins.

chattels: The political establishment is already readying for the next national election, likely to be held in April or May of 2018. Abadi has already begun to use Mosul as a rhetorical pivot to argue that this victory came about because his government’s reforms led to a stronger military force and to demand that civilian leaders perform with the same courage as the military leaders he appointed and who liberated Mosul.

Rapid reconstruction is not likely, nor is any substantial response to international criticisms regarding the conduct of the war. Rebuilding the country and fully modernizing the security and judicial branches of state will be the work of many years to come.

chattels: Rebuilding the country and fully modernizing the security and judicial branches of state will be the work of many years to come.

chattels: Rebuilding the country and fully modernizing the security and judicial branches of state will be the work of many years to come.

chattels: Rebuilding the country and fully modernizing the security and judicial branches of state will be the work of many years to come.

chattels: And that's the way it is, Friday, August 10, 2017.

chattels: http://www.cbsnews.com/videos/and-thats-the-way-it-is-walter-cronkites-final-sign-off/

chattels: Walter Cronkite signs off for the final time on the "CBS Evening News." Cronkite manned the anchor desk from April, 16, 1962 until March 6, 1981.

Cree: @Spectra hey what is super good news?
Cree: @chattels why was someone earlier talking about Iraq possibly going bankrupt?

Cree: @chattels actually he said Iraq is bankrupt now?

Adam Montana "Any News on the HCL Yet?" , 11 AUGUST

[Any news on the HCL?]   

I'm waiting on some news as of now, actually as of a couple days now... it's coming.


BLC Member News Highlights & Comments 8-11-17

Tlm724:    The Iraqi Trade Bank: The global market has begun to trust the future of Iraq's economy

 Banks   Economy News Baghdad: The Iraqi Bank of Commerce announced on Wednesday that the global market began to trust the future of Iraq's economy after the issuance of the country's bonds worth one billion dollars.

The Iraqi Bank for Trade in a press statement received "the economy News" a copy of it, "The issuance of bonds issued by Iraq worth one billion US dollars in the global market exceed several billion and strong requests exceeded seven times the amount required."

He added that "the Iraqi Trade Bank announces the success of his participation as director of issuance in the process of international public offering of the Iraqi Republic for the first time, where the Iraqi government issued bonds worth one billion US dollars in the world market for five and a half years and a price of 100% and a return of 6.75%.
"Citibank, JPMorgan and Deutsche Bank have been key managers in the bond issuance process. The Iraqi Trade Bank has participated as co-manager," he said, noting that "the bond was rated B-Stable by companies Fitch Ratings and S & P. ​​Bonds are also expected to fall within the Irish stock market. "

He pointed out that "the Iraqi government has organized with the banks that manage the issuance of bonds a number of comprehensive offers in London, Boston and New York and received a positive attention by investors from global investment funds, and proceeds of the IPO value of what was on the market more than seven times the amount required "He said.

"We are honored to be the co-directors of the $ 1 billion bond issue for the first time by the Iraqi government," Faisal Al-Hims, director of the Iraqi Trade Bank, said in the press release.

"We are pleased with the positive result we have received from the global capital market, where the proceeds of the subscription exceeded several times what was on the table, reflecting the confidence of the global capital market in the economic future of Iraq."
Views 537   Date Added 08/09/2017     http://economy-news.net/content.php?id=8653

Shredd:    Take a look at this part:

"...a number of comprehensive offers in London, Boston and New York and received a positive attention by investors from global investment funds, and proceeds of the IPO value of what was on the market more than seven times the amount required."

Shredd:    This is a big deal folks. Investor confidence and then some! This strong investor response will result in more investment, that is guaranteed! The rating holding is good too.

As Iraq prepares to respond economically to the lower oil prices, selling their debt like this makes sense and again, the investor appetite is awesome to see!

This should move the needle on the stability front and as security improves, the next move should be to reengage the project to remove the zeros and reflect a more realistic value to the dinar.

Investor protections are in place (kyc, balance protection, generous trade windows, etc) and this powerful confidence from investors, combined with asset management from huge international finance banks sets the stage as perfectly as we could have hoped for.

Be very encouraged. This is good to see!  Shredd

Reflection:    In coming days

Tlm724:    Thank you Shredders for all your comments today !! I am very excited about this bond issue and maybe they will offer a tranche to satisfy the demand !!! Iraq has been making ALL the right moves since the liberation of Mosul and that is not a coincidence either. Exciting times no doubt !!!

Tlm724:    International Monetary Fund: Iraq's economy has declined and its reserves have fallen to 45 billion dollars

10/08/2017 09:17 | Number of readings: 357   Trend Press / Continue

The International Monetary Fund considers that Iraq is currently facing a dual economic challenge of compensating for the material losses caused by the war against Daqash, as well as the decline in oil production and prices.

The IMF said in a report on Wednesday that in 2016 real GDP of Iraq rose by 11 percent, as a result of a rise of 25 percent in oil production, "which was not significantly affected by the conflict with the" dashing "at the time.

The report added that he expects the economic activity this year will not see any increase due to a 1.5% drop in oil production due to Iraq's commitment to the agreement of the OPEC oil exporting countries and outside to reduce the level of production and also because of the very modest recovery of non-oil sectors.

He pointed out that "the decline in oil prices led to a decline in Iraq's foreign currency reserves from 54 billion US dollars by the end of 2015 to 45 billion at the end of 2016, saying that" the financial pressure continued as the government deficit increased to 14 percent of GDP in 2016 after It was 12 percent in 2015. "

However, the outlook for medium-term growth appears to be positive due to the expected improvement in the security situation and readiness to implement several infrastructure projects, although the risks remain high due to continuing security and political tensions, the IMF said.

Kuwait has been in contact for a long time with the countries of the world, the World Bank and Iraq itself to prepare for hosting a conference donors for the reconstruction of the liberated areas of Iraq, "Daash," which may be held in the first quarter of next year.


Tlm724:    International Monetary Fund: Iraq faces double economic crisis and risks remain high

Economy  Since 2017-08-10 at 12:51 (Baghdad time)   Baghdad Mawazine News
The International Monetary Fund (IMF) predicted that Iraq's economic activity this year will remain silent as oil production shrank by 1.5 percent due to OPEC's agreement to cut oil production and a modest recovery of the non-oil sector.

"The prospects for medium-term growth of the Iraqi economy are positive, and growth will return to the expected moderate increase in oil production and recovery in non-oil growth supported by the expected improvement in security and the implementation of structural reform," the IMF said in a report.

"The risks are still very high, but they are mainly due to volatility of security, political tensions and weak implementation of policies. Iraq faces a double shock resulting from the conflict with a push and drop in oil prices."    LINK

Shredd:    When an economy struggles, one tool to combat financial distress is to adjust the country's currency...just like the US recently lowering the value of the dollar.

Iraq has the same opportunity. What complicates this is the use of the dollar...but this is all good and works for our benefit imo.

Reflection:    Maybe I'm mistaken and you can explain it better... but I've always thought lowering the value of a currency made financial distress worse? Doesn't in raise inflation and prices on goods, your dollar won't go as far?

Lots of folks in America (Democrats/Bernie voters) want a minimum wage raise or a "livable wage" because folks can't survive...but none of them realize the value of our dollar has gotten weaker (more taxes/mandates and junk) so it won't go as far. Always thought a weaker currency was actually worse for the economy.


Tlm724:    Central Bank: 20 financial transfer companies turned into banks

Director of Accounts Department at the Central Bank Ihsan Shamran

Banks   Economy News Baghdad:

The director of the Central Bank's accounts department, Ihsan Shamran, said that the government has drained the resources of Al-Rasheed and Rafidain banks, adding that 20 financial transfer companies have become banks.

"The government has drained the resources of Al-Rasheed and Rafidain banks and borrowed from them 25 trillion dinars to cover the salaries of companies," Shamran said in an interview with the satellite "Iraqi News" and his "Economic News", adding that "Al-Rasheed Bank and Rafidain did not offer anything because of lack of liquidity." 
​He explained that "20 companies converted to the financial banks," noting that "the draft central bank granted 6 trillion dinars to banks aimed at reducing unemployment and stimulate the economy."

He pointed out that "this project faced many challenges, including the lack of granting loans to citizens," noting that "the only housing fund, which spent its share of more than one trillion dinars."

Views 863   Date Added 09/08/2017    http://economy-news.net/content.php?id=8654

Tlm724:    "The director of the Central Bank's accounts department, Ihsan Shamran, said that the government has drained the resources of Al-Rasheed and Rafidain banks, adding that 20 financial transfer companies have become banks."

Tlm724:  If this is accurate then I suppose Iraq won't have to restructure these state banks as required by the IMF. I think they may be concentrating on The Trade Bank of Iraq as their main state bank.

Tlm724:  (see this article)   The Iraqi Trade Bank: The global market has begun to trust the future of Iraq's economy


Tlm724:   Here is the statement by the IMF in their review:

Press ahead with restructuring of Rasheed and Rafidain bank 
Ongoing. An external audit of the financial statements of these banks is expected by end-August 2017.

Shredd:   Agreed, especially since the 6 trillion was provided.