Iraqi Dinar Revaluation and Global Currency Reset News | Dinar Chronicles
August 10, 2014
not decided yet meetings adjourned to 19th to decide biggest bloc same old story delays
Michael > robert
August 10, 2014
Remember, there is a lot of misinformation. You can count on very little truth coming from news released for now. There is huge pressure to announce the PM. Internally as well as internationally. Financially. Constitutionally. Deliberately. Physically. Publicly. Morally. I could go on. The whole of our planet, whether they know it or not are on standby for this moment. Signers are waiting with pen in hand to release the GCR/RV. Iraq will be hugely embarrassed if they do not handle this. HUGE pressure. Hang in there. :)
August 10, 2014
Not that it matters but I have other sources that are not connected with Humanus, ZAP or POOF but more or less confirm what they keep saying. I don;t know if they are connected. I am told to watch for the next couple of weeks. I don;t know if anything will happen but if it does I will let you know
lojak: Obama said on his weekly address...that once the new PM of Iraq is seated--which should be anytime, a coalition of countries will be going in to eradicate ISIS. The govt will be done very shortly...and the CBI has publicly said what they were waiting on.
Word is Al Jaafari is the Prime Minister...And Maliki conceded the position to him...I was told ...that some were heard referring to jaafari as Mr. Prime Minister...so we shall see as the deadline is Monday 11pm.
WEAR YOUR SMILES TODAY...THIS IS A AWESOME WEEK COMING UP.
GET IN THE HAPPY MODE NOW WHY WAIT AND WASTE A MIN.
...the dinar in circulation is simply worn out.
And the reprinting of notes is to replace those...nothing more...the CBI has a responsibility to maintain exchange rate stability, foreign currency auctions, etc (monetary policy).
until the such time they decide to exit Article XIV and enter Article VIII.
This is nothing more than part of that process.
The current dinar is not expiring, nor ending nor have a timeframe.
The IQD is the currency of Iraq.
IMO, the value of the dinar will not change until the CBI makes that decision to go to Article VIII as part of the transition to a market economy.
The rise in value is part of a broader economic plan as the Article IV Consultation stated "Balassa-Samuelson" effect. There is no overnight RV, its not happening tonight, tomorrow or after the GOI is seated...It will rise in value only as part (result) of the transition to a market economy and a influx of capital.
the CBI realizes that they cannot do anything for a while (prolly 60-120 days at least).
And reprinting the current notes allows them to maintain a successful monetary policy in compliance with the IMF while they wait...the CBI had no choice.
They need usable currency or else the monetary policy fails.
They cannot continue using the US dollar indefinitely...not if they want a market economy. Yes, they have used the dollar for 11 years and that is because they are in a closed currency board (peg) under Article XIV with the IMF and 95% dependent on oil sales with little to no other exports.
So using the dollar is perfectly understandable why they stabilize the country, build the infrastructure to support investment and learn how to manage monetary policies. This is the very motivation for the reams of news articles from economists in Iraq calling for monetary/currency reform. Remember, in order to transition to a market economy, open the capital account, and invite global investment, they must be using the dinar. As well, they must be using the dinar for the WTO - both require IMF Article VIII. So when that happens, the dinar will rise.
Maliki has surrounded himself and Tweets of explosions in or near his presidential palace.
Maliki was just on Iraqi TV basically saying he will not step down. That the president has violated the constitution for failing to nominate him for a 3rd term. Immediately thereafter that broadcast, he has deployed troops around the green zone.
[posted at 8:27 a.m.]
From my friend watching live: WAITING FOR THE PRINT ON IT, THIS IS HAPPENING LIVE...HOLD ON, FLASHING ADJOURNED UNTIL 8/19. BIG TROUBLES AGAIN...EVERYONE IS OUTSIDE YELLING AT EACH OTHER. SEEMS THEY VOTED ON THE COMMITTEES AND NOW THEY MOVED THE REGULAR 12TH MEETING TO THE 19TH, BUT STILL WAITING IN THE CONFUSION TO SEE IF THEY DECIDED THE BIGGEST BLOC YET.
SAME FIGHT BROKE OUT AGAIN TODAY, NOW JOBOURI WILL MEET WITH FUAD, MALIKI, AND JAAFARI TO RESOLVE THIS ISSUE BEFORE MIDNIGHT TONIGHT.
IT APPEARS THAT THE POLITICAL HEADS/NATIONAL ALLIANCE/SLC ARE STILL WORKING (LITERALLY PERHAPS FIGHTING) TO SELECT A SINGLE CANDIDATE FOR PM, BUT THAT OTHER BUSINESS IN PARLIAMENT IS ADJOURNED UNTIL THE 19TH.
[we could be in for a long drawn out battle and no RV?]
ALWAYS BEEN A DISTINCT POSSIBILITY.
"President Fuad Masum Friday evening to the city of Erbil..."
THE PRESIDENT IS IN ERBIL AND HAS ARRIVED FOR THE PURPOSE OF RESOLVE.
IT IS SO OBVIOUS THAT HE IS GOING TO BE GOOD FOR IRAQ AS HE IS PUTTING HIS PRIORITIES THE RESOLVE OF THE POWER SHARING GOV.
IT SEEMS THAT IF THEY DO NOT HAVE IT DONE BY TOMORROW [SUNDAY] (THE END OF TIMELINE) -- THE PRESIDENT IS PREPARING TO PLACE A PM -- HE HAD SAID BEFORE HE WOULD NOT SO THIS IS GREAT NEWS.
AS WE SEE WE HAVE HUGE HOPE AND SO DO THEY THAT A PRIME MINISTER WILL BE NAMED...THIS IS GOING ON THIS WEEKEND. [Guru] BGG...VERIFIED THAT THEY ARE MEETING SUNDAY AND NOT MONDAY...SO IT IS NOT POSTPONED.
"Vacated Prime Minister outgoing Nuri al-Maliki in his office building, prime minister of the personal needs and sensitive files. A source in the office of al-Maliki told ((eighth day)) that the evacuation process initiated since the early hours of Friday..."
MALIKI IS EVACUATING ALL OF HIS BELONGINGS. THERE ARE NO GUARANTEES THAT HE WILL NOT BE WITHOUT LEGAL MATTERS. SO THAT IS WHAT WE...STAMP AS HUGE PROGRESS.
Parliament does not have to be in session. This is on Massoum - Period...he calls the largest bloc to bring forward their nominee who is then the one to "form the Gov't"...this nominee has 30 days.
[As I understand the Parliament will only vote to seat the whole govt not just the PM is that correct?]
if he cannot - or cannot get a plurality of support once he does "form" (from Parliament - in the form of votes) then Massoum will choose another candidate.
[Do you feel the govt has to be seated or just a PM to be named to see a possible RV?]
IMHO - just the PM.
[do you think Massoum will announce the PM soon?]
Yes. I do.
Maliki trying to arrest all of Parliament and all the major political leaders.