News, Intel, Rumors and Opinions - September 22, 2014

Iraqi Dinar Revaluation and Global Currency Reset News | Dinar Chronicles

http://www.dinarchronicles.com/intel

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Millionday:

...THE ISSUES AT THE END OF WHERE THE BUDGET WAS LEFT FROM PREVIOUS GOVERNMENT WAS THE ISSUE WITH THE KURDS AND FEDERAL -- SO NOW ABADI HAS MET WITH BARZANI AND THEY HAVE RESOLVED SO WE ARE IN A VERY GOOD PLACE WITH THE BUDGET AND IT IS EXPECTED TO PASS.

ACCORDING TO WHAT THEY ARE SAYING IS THIS WEEK WILL SEE A VOTE FOR THE 2014 BUDGET --- SO THAT WOULD ALLOW THE TIMELINE TO BE REACHABLE AS THEY HAD ANNOUNCED AS THEIR GOAL. 

PARLIAMENT MEETS TOMORROW [MONDAY] AND TUESDAY.  

I DID SEE A REPORT ALL ABOUT THE BUDGET AND IT IS IN THE BILLIONS.

WE HAVE BEEN TOLD BY MANY SOURCES THAT ARE TRUSTED THAT THE GOAL IS TO OPEN THE BUDGET BY THE 1ST OF OCTOBER --- THEY HAVE MADE IT CLEAR THAT IS THE GOAL. 

Article quote:
"...the parliament will approve a budget for the three months and a half remaining this year, with the exchange rate increase approved by the Parliament earlier on the salaries of employees with retroactive effect from the beginning of this year and will be disbursed next month..."

THIS IS SAYING THAT THE BEGINNING OF THE MONTH WILL BE THE THREE MONTHS THAT WILL BE DISBURSED AND IT WILL BE AT THE NEW EXCHANGE RATE. THEY WILL ALSO BE PAYING BACK PAY.

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[Is it true parliaments last day is sept 25 and don't return til Oct 8th?]
THE NATIONAL IRAQ DAY AND THE HOLIDAY IS NOT A BANKING HOLIDAY OR GOVERNMENT SO I HAVE NOT HEARD THAT THEY WILL BE OFF ALL OF THAT TIME.  

[When are they scheduled to vote on that basket of currency and economic reform laws?]
THIS WEEK THEY ARE SCHEDULED TO VOTE.

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tman23:

Baghdad – the Parliament decided to continue to hold meetings to Thursday (9/25) and to resume after Eid al-Adha holiday, Wednesday 10/8 which will be about two weeks...THIS GIVES THEM 4 DAYS TO VOTE AND PASS PENDING LEGISLATION.

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The CBI is closed 10/4 to 10/7...Parliament will be also!!!  It is a NATIONAL HOLIDAY. 

CBI website confirms closed 4-7 [October 4th to 7th].

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Poppy3:

I STILL DON'T THINK THEY WILL CHANGE THE RATE TILL THE BASKET OF FINANCIAL LAWS ARE PASSED SO THEY CAN COMPLETE THE WTO PROCESS OF ACCEPTANCE. 

THAT BASKET IS IN PARLIAMENT AND READY FOR VOTE FROM ALL INFORMATION IN INK . UNKNOWN WHY THEY HAVE NOT BEEN VOTED ON YET BUT THEY ARE EXPECTED AT ANYTIME EVERY MEETING.

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Kaperoni:

Article quote:
"House of Representatives decided to continue its activities until the end of this month to resume work on the fourteenth of October next, after the end of the holiday."

So parliament will continue to work and have sessions through the end of Sept and will take a vacation/break from Oct 1- Oct 13th for a holiday (resuming on the 14th).

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Article quote:
"After the agreement of the Presidency of the Parliament during a meeting with heads of blocs and members of the parliamentary committees on the continuation of the meetings of the Council until the 30th of September, the current, most likely politicians to postpone the vote on the candidates for the ministries of interior and defense until after the Eid al-Adha..."

So they will not name the defense or Interior until after the holiday which ends October 13th. 

So at least the middle of October before they seat these ministers.

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Article:
"Determined by the value of the dinar monetary policy"

Saleh is describing the definition of the Balassa-Samuelson effect. 

Quote:
"Balassa–Samuelson (BS) hypothesis implies that countries with rapidly expanding economies should tend to have more rapidly appreciating exchange rates."

In other words, the appreciation of the dinar is directly related to the growth (increased productivity) of the economy. 

Which is what Saleh is stating in this article above.  

...we will see the dinar rise as they open the market economy. 

That is a fact...it simply has to because raising the value of the dinar is a monetary tool for the CBI to control inflation which will occur as a result of massive investment. 

Once they are ready, and open the Capital Account, move to Article VIII and a new Exchange Regime, the CBI's task will then become one that monitors capital and investment into Iraq. 

As that occurs, the dinar will rise in value to offset the inflation it creates.  The bottom line, is we have to wait for the new GOI to get to that point..and it will still take time..we are talking laws, stability, security so the market economy is a success.

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Shredd:

Article:
"Claims to reconsider the law of economic reform"

Quote:
"[economic reform] is a good idea and much needed, especially at this stage that requires the transformation of the economy totalitarian central to a market economy."

Yes, a great article to start off a Monday with! 

I know we've said it many times before, but a market economy means Iraq will have a Dinar that is representative of it's true value.

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Chattels:

IMO, ...the Kurds...can expect to be disappointed, at least initially, with the response of the new government to the Kurdish demands. ...if our event happens anytime soon it will be a surprise to me.

News, Intel, Rumors and Thoughts - September 18, 2014

Iraqi Dinar Revaluation and Global Currency Reset News | Dinar Chronicles

htttp://www.dinarchronicles.com/intel

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TerryK:

YOU DON'T NEED TO CALL AN 800 NUMBER TO DEAL WITH WF [WELLS FARGO]  BOA [BANK OF AMERICA] OR ANY OF THE OTHERS.  

JUST CALL YOUR LOCAL BANK OR DINAR DEALER AND SCHEDULE AN APPOINTMENT.  

THAT'S HOW EASY IT IS...I HAVE SPOKEN TO THE VP OF INTERNATIONAL BANKING WF AND THEY HAVE NOT EVEN HEARD OF A CONTRACT 800 RATE OR NUMBER AND I HAVE TALKED TO HOMELAND SECURITY AND THEY HAVE TOLD ME THIS AND I QUOTE "ANYONE THAT IS THINKING ABOUT DEALING WITH AN OUTSIDE SOURCE TO  EXCHANGE ANY CURRENCY MUST DEAL WITH A LICENSED VENDOR OR BE IN VIOLATION OF THE UST GUIDELINES".  

THINK IT OVER, BEFORE YOU GO DOWN THAT PATH.   

[So,when now are we thinking this MIGHT happen?]   
I GOT YESTERDAY THAT THEY HAVE NOW THE LAST MINISTER IN PLACE...SO ANY TIME WHAT I WAS TOLD.

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Poppy3:

CALL...FROM GREENZONE BUILDING SAYING THEY EXPECT ABADI TO FINIISH MINISTERS TOMORROW [THURSDAY]  AND SEVERAL OTHER VOTES TO TAKE PLACE. 

ALL SOUNDING GREAT ON THE STREETS...THERE NO ISIS WITHIN 50 MILES OF BAGDAD AND NEVER HAVE BEEN.  

>>>>

[your sources say anything else?]   
THEY STILL SAYING WHEN LAWS ARE COMPLETED AND IMPLEMENTED THEY EXPECT THE RATE ANNOUNCEMENT ASAP AFTERWORDS.

[what laws are we looking for besides HCL?]  
MANY BANKING LAWS INCLUDING THE INTERNATIONAL BANKING LAWS THAT HAVE TO BE DONE FOR THEM TO BECOME FULL MEMBERS OF THE WTO. ALL THESE LAWS WERE YESTERDAY SAID TO HAVE BEEN PLACED IN ONE BASKET FOR VOTE SO THEY ALL WILL BE PASSED AT ONE VOTE.

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Kaperoni:

Article:
"Erbil and Baghdad Close to Oil Agreement"   

I would not go so far to say HCL is about to be done.  

HCL is much more than just how to export Kurdistan oil.  

None the less, a good step.

>>>>

Article:
"Finance parliamentary likely to issue a new edition class (50) thousand dinars"    

...if they issued physical 50k or 100k notes it is not good not only for us as dinar investors, but for Iraq's own economy.  

That is not what they are going to do.  

It contradicts everything Iraq needs to do for a transition to a market economy and more importantly integration of the banking system with the world economy.  

That is why they won't.  

What they will do is raise the value of the dinar (nominal exchange rate) and introduce notes that gives one "the feeling" of purchasing power equal to issuing a 50k or 100k note.  

In other words, they are trying to raise the value as so often stated at or near 1 to $1. 

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Adam Montana:

[when the GOI printed their post Saddam dinar (the currency that we all here are holding) was it THEIR game plan to RV or was that the thought that we investors  had dreamed up?  I remember when George W. made the announcement that the U.S. was going to invade, he did say that this invasion would not cost the U.S. taxpayer anything.  So, I thought that (when I first invested in the IQD) that it was the U.S.'s intent to have a lot of these new Dinar to cover the price of the invasion. If so, WHAT WENT WRONG?  And is that where we are now?]    
I don't necessarily think anything went "wrong", it's just taken a while to get everything in place. We've seen the IQD more than double in value since 2003, we've seen Iraqis form a government, we've seen the Iraqi people voting (remember the first time we saw the purple ink on the fingers of voters?), we've seen a LOT of progress... and we continue to see that.  

There was no way the IQD could have gone up dramatically and been stable any time before 2010... but the progress they've made is undeniable, and if it's going to happen - we are close.

>>>>

[...are you still leaning toward a 10cent revaluation or has it moved up or down ...?]
I"m sticking with .10 for now... if I'm wrong and it's higher, I don't think anyone will be mad at me.   : )

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TD:

Comments to share from my Kurdish friend (As always please treat as rumor):  My guy mentioned...this article which actually is a rehashed article BUT has some real muster behind it BECAUSE the NEW 10K note is already being integrated/exchanged and the other (NEW) 5k , 25K and MOST IMPORTANTLY the NEW 50K is COMING!!! These new notes( I'm told) are in final process of production and will be integrated/exchanged during the last quarter of this year.  This has two VERY IMPORTANT IMPLICATIONS : 1) Cutting off ISIS from obtaining the new notes and not able to mass produce counterfeit ones and 2) THIS SHOULD PUT TO REST (for the next two quarters) THAT THERE WILL BE NO RV/RI/RD.

So... the introduction of these into the marketplace IS/WILL BE PROOF POSITIVE of the GOI and CBI's monetary policy for the time being (next 6 months at a minimum).   To reiterate my contact indicates that the Finance Committee and the ABADI administration will NOT entertain any other discussions regarding such till sometime toward the end of the first quarter of 2015 and the BIG IF of that timeline IS/WILL BE the handling of the country's security situation. THIS IS HUGE!

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tman23:

[u think iraq will pull things together this month or not?]
I'm sticking to 10/7 - 10/9 to see the change in currency rate...Quite frankly I have around 8 solid items that favor this timeline as being best window.

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Shredd:

regarding remaining ministers, I think agreement will be had soon and agree on vitality of having them seating to move forward on fighting terrorism and moving forward on monetary policy change and to have agreement amongst the parties is key, non-sectarian...equally representative.  

I'm excited to see new notes being updated too again, fighting corruption...making it harder for terrorists to use and exchange imo.  

[think all those security things being done is the prelude for the LD's to show.]
totally agree, part of three zeros plan... LD's will be useless without a strong rate.

News, Intel, Rumors and Opinions - September 14, 2014

Iraqi Dinar Revaluation and Global Currency Reset News | Dinar Chronicles

http://www.dinarchronicles.com/intel

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Kaperoni:

Article:
"Tamimi: the budget will be passed before the 15th of next month"

...the way I read it...2014 before October 15th...and 2015 will be sent directly after October 15th. 

So 30 days to pass the 2014 budget.  

I would like to see some timeline for the stalled laws as well.

>>>>

Article:  
"Economist: paper ten thousand dinars new regulatory action to prevent fraud"

This statement is not good..."the need to head the central bank to restructure the Iraqi currency and delete the zeros commensurate with the value of the dollar and raise the value of the Iraqi currency against the currencies of countries Jawarwalamlat the world."

When I read this it implies they want to redenominate (LOP) the notes equal (commensurate) to the dollar, then begin to raise the currency value against other countries.

[I have never been able to get  my mind wrapped around the whole float theory, and now you come out with this? 

I have always wondered, in relation to the float from 1166 theory, if the dinar floats from 1166, or 1 cent or 10 cents, what is to stop large wholesale investors, billionaires, and foreign countries from sucking up all the dinar at those low rates and sitting and waiting for it to get up to $3? 

If that happens, NO one will be selling their dinar, the CBI will not be making money cashing in, the dinar will plummet further, the Iraqi economy will crash, and we will all be screwed.  And now you throw this out there - a LOP!]
I am hoping they do what we were told they would do...which is a gradual appreciation. 

It makes more sense and follows economic principles.

The good news is we should all know by the end of this year. 

The recent articles are clear that opening the economy is the #1 priority and that requires opening the banking system and dinar to the world. 

No other options. 

I still believe the details provided by the IMF are the most accurate but these articles sometimes throw a curve ball that one cannot help wonder.  

Remember...hundreds of articles...clearly state they want to raise the value of the dinar. 

How that is accomplished seems less important.

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Millionday:

THE BUDGET HAS BEEN REPORTED TO BE EXPECTED TO BE OPENED OCTOBER 1ST OF THIS YEAR.  CBI HAS STATED THAT THEY WILL NOT WAIT FOR THE BUDGET TO MOVE FORWARD WITH THE ECONOMIC REFORMS AND MONETARY POLICY AND WILL USE THE INTERNATIONAL INVESTMENT FUNDS IN THE BANKS TO BEGIN WITH OR WITHOUT THE BUDGET IN PLACE. 

THE ECONOMIC EXPERTS ARE ASKING CBI TO MOVE FORWARD NOW WITH THE RV. 

THEY ARE ASKING FOR THE VALUE TO BE RAISED FOR THE COUNTRY AND...

...THE REDENOMINATION TO TAKE PLACE ALONG WITH THE SETTING OF THE RAISED VALUES FOR THE DINAR TO ALL INTERNATIONAL CURRENCIES.

THE CURRENCY IS ALREADY PREPARED BECAUSE IT HAS TURKI`S SIGNATURE ON IT --- SO IT IS READY OBVIOUSLY .   

I DO THINK THEY HAVE A DATE SET FOR THE DINAR TO MOVE TO THE GLOBE -- A PLAN THIS LARGE WOULD NOT BE CREATED WITHOUT A DATE IMO -- WE JUST DONT KNOW WHAT IT IS YET.  

LOOKS LIKE IRAQ FINALLY THINKS THEY ARE VERY CLOSE SO HOLD YOUR HATS.

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tman23:

My best guess is there is a more likely chance of seeing monetary change the eve of 10/7 -10/9. 

The CBI will be closed for four days starting 10/4 (so counting Friday is 5 days).  

October 8th is the start date of the UST fiscal year (although many will argue it's 10/1)...Because it is my belief the UST (exchange stabilization fund) would be supporting the RV event and the President can release the ESFunds without the Congress's approval, but the administration needs to give a full accounting within 6 months...That 6 month deadline accounting will be right before April 15th tax deadline for US citizens...also take into consideration that Iraq said they will start drafting the 2015 Budget 10/15...All in my opinion of course as being the strongest "window" for the event.

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Shredd:

Article: 
"The government program a valuable opportunity"

We don't have a timetable but having this program that "included all of the relevant requirements of the transition from a totalitarian to a market economy as a solution represent the challenges faced by our national economy" announced just barely into this brand new government is exciting to see. 

This shows us the importance and the priority of this program. 

Moving to a market economy includes a currency that is representative of true value and driven by the market. 

This is great news for us and again, though we don't have a timeline, we see this is obviously a priority and this new government wants to distinguish itself as new and progressive. There is much optimism with this new government and with all the ally support against terrorism, we can see it's a new day in Iraq!

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tlm724:

Article: 
"The government program a valuable opportunity"

Abadi presented his economic plan, it met the approval of parl, it will launch them into a market economy... a strong economy not only helps the country but helps us as well...wow awesome start!

>>>>>>>>

Enorrste:

[what your quick take is on the 10k notes? 

Maybe just a stop gap to keep large denoms on the street until not needed anymore in 4-6 months?]
Yes, I believe that they had to issue some to keep the country afloat in currency until the changeover. 

There is also the security issue with the original notes.  

We will get a float announced and then see the value rise over time.

News, Intel, Rumors and Opinions - Friday Evening

Iraqi Dinar Revaluation and Global Currency Reset News | Dinar Chronicles

http://www.dinarchronicles.com/intel

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Kaperoni:

"Working Party on the Accession of Iraq - Membership and Terms of Reference - Revision"

Ok, I don't know what this document is. 

But I assure you, Iraq is not ready nor have they received accession into the WTO... they don't have the laws to support global trade nor a convertible currency.  Accession will come later. 

I believe their are like 8 steps to accession. 

What this WTO post appears to be is graduation to step 8. 

Which is not accession, but the final faze...which still contains all the conditions set forth before. 

This basically puts it all on Iraq. 

The WTO has said, as soon as you do what is required you can have full accession because you have met the previous seven stages.  

Remember the list is at least...tariffs, laws, currency convertibility, less dependency on oil, etc. 

So Iraq has work to do, but this is an incentive for them for sure.  IMO, Iraq is still a year or two out before they will fully join the WTO.

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Shredd:

Quote: 
"IRAQ is a member of the WTO----Working Party on the Accession of Iraq to the WTO"

The title of this post is false.  Iraq is not a member yet. This is just a posting of a note on the file. There was a similar note posted back in December of 2009...people saying Iraq is a member of the wto, wrong.

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tlm724:

Quote:
"IRAQ is a member of the WTO----Working Party on the Accession of Iraq to the WTO"

NOT! 

There is much fanfare prior to ANY country reaching full membership status in the WTO. It actually takes several months from submission of the final report by the working party. 

IMO we will know when Iraq is close and it's not today.

RV & GCR: News, Thoughts and Opinions - Wednesday Afternoon

Iraqi Dinar Revaluation and Global Currency Reset News
~ Dinar Chronicles

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Shredd:

imo, as soon as govt is seated, the CBI will engage the removal of the three zeros project as Turki stated and that will bring a rate set.

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BGG:

The big news is Jubouri was elected as Speaker of the House, and 2 or 3 deputies. 

Maliki was asked to leave Parliament because he had no business there & was escorted out. 

When Parliament was sworn in, I think it was the beginning of the end for Maliki. 

IMO, as soon as this government is seated and settled, one of the first conversations will be financial reform, economic reform and currency reform. 

Currency reform is not going away. 

It is a very very public topic. 

So, once all the roadblocks are out of the way you will see something done about that in very short order. 

I think in the next few days there will be some resolution to this whole government situation. 

This is magnificent news for our investment and for Iraq. 

Good things coming in the next few days.

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Poppy3:

[Still think the RV could come quick after they get this done...?]
YET TO BE SEEN, BUT FROM ALL INDICATIONS ON THE FINANCIAL FRONT THEY WILL NOT WAIT LONG TO RV AND GET INTERNATIONAL. I SEE NOTHING HOLDING THEM BACK AFTER THE PM AND GOI ARE ALL SEATED.

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TerryK:

I'M GOING TO BE VERY CAREFUL HOW I SAY THIS. 

OK, READ BETWEEN THE LINES...TONIGHT SUPPOSE TO HAPPEN WHEN THE BANKS SYNC AT 2 AM.  

I REALLY HOPE THE LEAD TODAY IS CORRECT FOR TONIGHT.

<><>

THIS WAS SYNCED TO HAPPEN AT 2...THEN PUSHED TO 6 AM. 

NOW THEY ARE TO OPEN THE BUDGET AND SIT TWO POSITIONS TODAY AND WE ARE TO SEE THIS LATER HOPING LATER TONIGHT. 

VERY QUIET, THATS THE DESIGN AT THE VERY END.

News, Thoughts and Opinions - Monday Morning

Iraqi Dinar Revaluation and Global Currency Reset News
~ Dinar Chronicles

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Shafaq News:

Al-Sistani gives Maliki a week to step down.

The top Shi'ite cleric in Iraq, Ali al-Sistani has dilvered a verbal message to the outgoing Prime Minister , Nuri al-Maliki, telling him  that he should step down from his post during a week to make room for   to choose an alternative and end the crisis in the formation of the government.

The religious Marjaa waved that he will announce his frank position against al-Maliki if the week ended and the latter did not respond to the message, according to Elaph Website that said briefed about this information from a source close to the Marjaa.

Maliki seek to fill the office for the third time in a row, especially after State of law coalition come the first in the elections that took place at the end of April with 95 seats, ahead of about 60 seats for its nearest rival.

But he faces stiff opposition from Sunnis and Kurds he parties in the National Shia coalition as those parties blame it on the massive offensive of the Islamic State of Iraq and Levant “ISIL” organization on the north and west of the country.

According to the close source to the religious Marjaa , an envoy has brought a verbal message from the highest religious Marjaa, Al- Sistani to Prime Minister , Nuri al-Maliki on the need to solve the problem of the Shiite National coalition’s candidate to head the new government to choose the alternative to him within one week, otherwise they will announce a position publicly against his third term.

However, the relentless attack of ISIL last month raised wide fears within the country and outside it from Iraq's collapse and fragmentation into parts which prompted religious Marjaa to call to take up arms to fight the militants and tens of thousands responded to the call.

Marjiyaa stressed to Maliki, according to the report, seen by "Shafaq News" that “ this position comes is consistent with the positions of other political blocs opposed to give Mailki a third term, and that he does not have national consensus.

Marjiyaa has warned of the risks of the continued absence of nomination of candidates for the three presidencies of the Republic, the parliament and the government on the situation in the country, which is witnessing security, and political crisis that threatens disintegration of Iraq.

It is believed that Maliki's insistence to hold office prevents the formation of the next government, despite repeated calls by Marjiyaa on the need to accelerate the formation of government to face ISIL.

The source noted that al-Maliki began to be sure that the whole political atmosphere is going against his desire for a third term.

Al-Sistani’s Office had denied last Wednesday what some of the media has said about Sistani’s son, Mohammad Retha that there are no red lines on any candidate for prime minister.

A close source to the office said that "what was attributed to Mr. Mohammad Retha al-Sistani or to the office through some channels on the lack of red lines on any candidate for prime minister is not true," which was interpreted as the possibility of Marjiyaa to object any candidate for the presidency of the next government.

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Shredd:

While that's certainly true, the perceptions and fears of human kind are what need to be mitigated, imo, that will happen very quickly once the goi is seated and fair representation of the sects is accomplished. How long that will take is another thing. I have a feeling it won't take long. Gov Turki has things just where he wants them.

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wmawhite:

[Do you believe no RV with M [Maliki] around?]
We can only go on what the CBI has stated and if the translation is correct, Turki made reference to when the government is decided and that is open to translation. Does anyone really think that Iraq is going to keep to value of the IQD at 1166 when they are going to be the richest country in the region? So if you believe they will or they need to increase the value of the IQD, does it matter to the CBI who is the PM? I don't think so, just my opinion.

It may very well be that the Board of Directors of the CBI are waiting for the formation of the government regardless of who is the PM. Have you noticed that the CBI has continued with the reforms of the banking system...they do not sit still. Besides my thoughts/opinions about the CBI...I too believe that the different blocs will not agree to a government if Maliki is still there. I believe an all-inclusive GOI is in their future. (I think/hope that they are ready... get Turki a GOI and he will give us the RV.) Agreed.

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TerryK:

I CAN'T HELP BUT SIT BACK AND SMILE AS I KNOW IT'S RIGHT HERE ... ANY MOMENT.

<><><>

Kaperoni:

Article:
"The stability of the dinar exchange shares in maintaining the prices of goods"

Quote: 
"The exchange rate of the dinar in 1220 dinars banking offices in the official exchange rate of 1166 dinars and the price is stable, as the increase up to 2 percent represents an acceptable price and stable, according to financial expert, the appearance of Dr. Mohammed Saleh."

Glad to see Saleh confirm the 2% spread. As well, he makes a very solid statement that the Iraqi dinar would be considered a "hard currency" if not for the absence of mechanisms...which to me means open the currency to the world (Article VIII) and a new Exchange Regime (they must get off the peg and on to some sort of float)...only currencies that float are considered "hard currencies".

The last few days of CBI news does give me more optimism about the banking system. For sure the CBI is pressing forward to prepare for the day of Article VIII and a new Exchange Regime. We just need the rest to fall into place.

News, Thoughts and Opinions - Thursday Afternoon

Iraqi Dinar Revaluation News
~ Dinar Chronicles

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Stryker:

Article: 
"Parliament Official Notice Sunday"

Quote: 
"In the public interest and commitment to constitutional contexts in order to preserve and continue to build democracy and again after consultation with the heads of blocs in parliament, we've decided to change the date of the previous call for parliament to convene on Sunday, 13 / July / 2014."

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tlm724 & Shredd:

Article quote: 
"We will also see the session the second reading of a bill accession of the Republic of Iraq to the establishment of the International Islamic Trade Finance"

there has been several arts [articles] recently telling us what parliament has been working on and there was a bill being read that caught my attention...there 56 countries in the organization on several continents and Iraq is already listed as a member - now as mentioned in the above article they state "accession" into the Trade Finance Org.  

Imo, Iraq is now prepared to implement and take full advantage of the funds and many advantages of this Org...this accession is huge...major steps continue to take place behind the scenes...that bring Iraq to a place where they are ready to have a strong dinar in front of them.

Trading is the life blood of any investment...once investments are established, the trading within them will take place safely, timely, efficiently and correctly due to the oversight of the ITFC.  If that can’t happen, the investments will die the moment the market fluctuates...So, to see this bill being voted on is awesome to see.  This is yet another “behind the scenes” necessity for Iraq to ascend to a place where investment and banking has a safe place to be...  

I’m [Shredd] a VP in a top 3 international bank and have been with them for ten years. 

I have full access to daily global accounts, massive investment vehicles and products and services that cover every single sector. The entire time I’ve been there, Iraq has been non-existent due to what we all know has been taking place there…and they still are today. 

These banking and investment laws, this ascension to the ITFC is absolutely necessary for Iraq to emerge among their peers to welcome global investment and to ensure safe banking and trading is in place.

My hope is that when you gain an appreciation of what is all being accomplished, you will see vital progress, not frustrating stagnation...finding this and showing you all so much is and has been moving forward. 

will this directly bring us an RV tomorrow? 

you all aren't that absent to think as such im sure...but, these all have to have been done to bring Iraq to the place they need to be. 

Some say the dinar was supposed to have moved by now as far as the monetary policy and the rate whether it be via a float, or a continued managed float.  

But it didn't, did it?   Why? well, in part, these things had to be in place first.  

So, be excited we find this being done...great, great progress.