**Citizens in Basra complain about damage categories of paper currency and the central bank is to replace them **

* 22/07/2013 – 14:27 **|…


Finance Committee: مخمني income taxes of up to 58 million dinars per month


Revealed a member of the Finance Committee Magda Abdel-Latif al-Tamimi of the existence of financial corruption in the Directorate General of Taxation, stressing that Almkhmnin who work in this department up مداخلهم monthly to about 58 million dinars, to say the least.

said Tamimi said in a statement singled out by the reporter / JD / she received a lot of complaints of citizens from work Almkhmnin Taabi’een to the General Tax Directorate, confirming that it has calculated the incomes these Almkhmnin where the back of the Margin within a month they reach the lowest estimate to 58 million dinars, telltale to the employee in this department is pleased to work with, even if without salary.

described Tamimi, the reality of taxes in Iraq as distorted, emphasizing pursuit of the Commission to the existence of other income in the budget, non-oil taxation, which must be parallel to what exists in some countries.

According to the budget in 2013 obtained by the agency / JD / that 93% of revenues Iraq comes from oil, while the remainder of which it depends taxes.

following Iraq’s imports figures.
Max 0.29 tax
taxes and other charges
service fees 0.14 2.19
transferred from corporate bodies and state-owned public
interest income 0.04 2.36
staff income tax
corporate income tax 0.27 0.25 foreign oil
corporate income tax
income tax 0.31
tax for individuals 0.15 contained Alkmarki 0.89


Global banks eye Iraq but questions remain

21 Jul 2013

Interest by Citibank and Standard Chartered to expand into Iraq highlights the vast potential of the country’s banking sector, but the experience of a global rival points to the many pitfalls they must navigate.

With tens of millions of potential customers, few of whom have bank accounts, the country could provide a windfall for firms that manage to grab a foothold.

Iraqis are on the hunt for a full range of services, from current accounts to insurance and mortgages, little of which is currently on offer.

But outdated regulations, a preponderance of state-owned banks, poor infrastructure, and a litany of other obstacles mean succeeding in Iraq’s banking sector is no mean feat.

"This is potentially a very, very rich market to do banking in," said one Western diplomat, speaking on condition of anonymity. "Potentially."

The industry has come into the spotlight in recent weeks thanks to moves by banking giants Citibank and Standard Chartered to establish their presence in the country.

"We see Iraq as the next big thing," Mayank Malik, Citi’s head for Jordan and Iraq, told AFP. "We see this as a giant which is waking up."

"We see ourselves as the front-runners. We want the first-mover advantage."

Citi will initially look to serve existing clients — several international energy companies working in oil-rich south Iraq are customers. But in the longer-term the multinational is looking to move into commercial and retail banking, though it has not publicly laid out a timeline.

It has high hopes for the country – Citi economists project that Iraq will have 50 million people and a USD 2 trillion economy in 2050.

The latter figure represents a 15-fold increase on current output, and is roughly equivalent to the size of India’s economy today.

And, as the sector develops, virtually the entire range of banking services are required – at present, Iraqis have limited access to loans, insurance, credit cards, mortgages and a swathe of other financial products.

But while Malik voices optimism over the potential of Iraq’s banking sector, major obstacles persist.

As Citi was opening an office in Iraq last month, HSBC announced shortly thereafter it would pull out of Dar Es Salaam, a local bank in which it holds a 70 per cent stake.

Though HSBC has couched the sale as part of a global strategy, its then Middle East chief said in 2005 that Iraq was a "long-term prospect".

"At this stage, we will not be able to make further comments on the transaction structure and timing," an HSBC spokesman said.

Diplomats and analysts have pointed to a number of key difficulties, including a lack of modern regulations to give Iraqis confidence in finance.

The fact also remains that the two state-owned banks, Al-Rashid Bank and Al-Rafidain Bank, dwarf the competition and have little incentive to innovate.


Deletion of zeros: the will of the state unit condition / Raed Fahmi

Published on Friday, July 19 / July 2013 14:13

Issued during the past week, conflicting claims of some deputies to the Central Bank on the implementation of the project to delete the zeros of the dinar. Some urged him to speed up the process due to the favorable conditions after the withdrawal of Iraq from Chapter VII.

While another said some need to be patient, noting that it would disrupt the state budget and embarrass the government, as well as the reality of the political situation with the approach of the House of Representatives election fever and the intensification of competition and conflict between the two blocs.

Read More Link On Right

  It is known that the central bank had been submitted to the Cabinet late in 2011 to draft a professional integrated process of deletion of zeros from the dinar, and bearing in mind the economic and financial aspects, technical and security, social, psychological, and used the expertise of a global and reported from the experiences of other countries, including some of the neighboring countries and the region.

He expressed the bank at the time, his willingness to initiate the implementation of the process starting from December 2013.

But the bank issued a statement returned in May 2012 announced the postponement of the implementation of the project, even though it completed the bulk of the necessary procedures required by the process.

He attributed the reason for the delay to the need to secure the requirements of coordination and cooperation between the legislative and executive branches.

There was no reference in the discussions and debates that took place on this issue to Chapter VII the head, but the most important objections revolved around the inability to control and to control counterfeiting, money laundering and other areas of corruption, which can accompany the process of changing the currency.

But some went close to the center of the decision to say, it has launched the biggest corruption process, while accusing the central bank views as window hinder the process of monetary reform.

Thus, the debate focused mainly on the timing of the implementation process and the availability of its conditions, particularly the availability of the will of a united crucial part of the State in all its corners and powers to proceed with the implementation of this project, because it requires close cooperation between the various state agencies on the one hand and between the citizens and the media, organizations and institutions of civil society Ahli and on the other hand.

What we notice the absence of harmony and consensus within the parliamentary committees specialized, not to mention the parliamentary blocs different, and between the legislature as a whole, the government and the executive branch a whole, indicates clearly to the lack of requirement Qarase, which was based on him to postpone the implementation of the project in the past year.

The feasibility of the project and its importance Evoukan the potential negatives, a condition common will provide the state with all its powers. Without it difficult to accomplish loops and various aspects of the project satisfactory manner, able to surround the manipulation and corruption processes and control them, and with them the abusive exploitation of the withdrawal process and change the currency in circulation.

It is remarkable that the statements released through the media while the parliamentary committees not subject after discussing with the new administration of the central bank.

It is also essential that clarity is available in the content and significance of the scientific and economic exact currency exchange process. It is not the process would eliminate the inflation or growth fire, or a material change in the value of the currency and exchange rate.

But that the deletion of zeros concrete and positive impacts directly on reducing the cost of trading the currency transactions, facilitate, and reduce the risk of error associated with dealing with large numbers.

It also reduces the amount of currency in circulation, and thus the burden and costs of management and issuance. In addition, the currency change psychological effects on the citizen and his behavior Economic and Alanfaqa, what requires to anticipate that the work of awareness, and gradually, in the implementation of the switching process. LINK

Kaperoni:   Thanks Bob..i did some highlighting.  I am sure some people wont understand this so I will try to explain the last part.   As we have said for a long time.  IMO, I feel the “delete 3 zero” or “lift 3 zero” is a two part event.  

Before they can do this, they must raise the value first (otherwise it makes no sense).  So we expect the float to occur (accept IMF Article VIII), then as this article says..Dec 2013 they can declare “officially” they have deleted the zeros and start Jan 1, 2014 by implimenting the “law of indebitness” and issue smaller bills, etc.  when the rate reaches 1 to $1 or about.

Bglong:       In addition, the currency change psychological effects on the citizen and his behavior Economic and Alanfaqa, what requires to anticipate that the work of awareness, and gradually, in the implementation of the switching process.

The switching process will be gradual. Both the old and new have to coexist for that , or am I reading too much into it?

KellySue:  ….this does sound encouraging!! thank you for the post Bob, and kap for the explanation!! It is what you have been saying all the while!! :)   Blessings to you everyday!!

Tomceejay:   We have a defined time line.

Mike:    Kap, does Parliament have to pass the law of indebtiness prior to the float or do they wait until after Iraq moves to Ch 8 of the IMF charter and the value reaches 1 to 1? Thanks in advance for your reply.
Kaperoni:   Mike, I don’t think so..but several other economic laws need to be passed first.

Mike:    Kap, thanks for the quick reply. In your opinion, what are the economic laws that require passing and how do they effect the RV? Also, have the required economic laws been vetted by Parliament and have they had the first or second readings? My reason for asking is that it appears Parliament is not functioning all that well currently and my hopes are that ultimately Parliament does not hold up the progress to Ch 8 because of their………….ineffectiveness.

Dr. Nan:   Mike, you can read about the laws that need to be passed by perusing in the tab named “Kaperoni Chats and Friends”. Kap has written on this in detail and his postings in there are worth a read.

As to the Parliament’s effectiveness, this is a substantial improvement of late over their usual M.O. of fist fights and not having enough MPs show up to even have a quorum to meet. Huge improvement.

They seem to be getting along, and I am not aware of any blocs that are continuing to boycott Parliament. We just have to keep abreast of their published agenda items and read the articles to see where they are in the process. Read the forums and the research library to be informed. Oh, and listen to the conference calls.

Boomer911:  I don’t know guys, I don’t want to be Debbie Downer but in my opinion this is one of the clearest articles I’ve seen and to me this is undoubtedly an article describing a lop…please someone change my mind here…

Mike:    Thanks Doc, you cracked me up with the comment about Parliamentarians not resorting to fist fights :). I will say that having 230 members out of the 325 members elected participate in their government is pretty poor.

I guess my point is that they haven’t passed anything of real value lately, things like the laws of indebtiness, HCL, 140 etc. The SOL is still pushing hard for the de-Baathification law and as far as I know they are still boycotting Parliament until that law is placed on the table.

 You’re right about the research library as well, I’ve used this resource (and the cc’s) considerably in the past to further understand the process we’re going through. Can you narrow down my search a little for me? I’ve searched up to a year in the past and I couldn’t find the economic laws that Kap speaks to; thank you in advance for your help as well.

Dr. Nan:  Mike, it is probably dispersed through more than one post. Tlar, Steve, or Kap could probably help you out. I don’t have time right now to do the search. My husband and I are going out celebrate the birth of our 6th grandchild!

BTW, 230 MPs out of 325 is a major improvement, and they seem to meeting more regularly, more than I can say for our own elected officials in DC.

Terry:   Boomer911, That word “lop” has been disproved so many times here at D.A. that it is very rarely ever even mentioned. That words makes absolutely no sense when you gather the info put out by all sources as to what their goals are. You be wrong!

mexia74:  The simplist way to disprove a lop is to understand that a lop is neutral.  No effect positive or negative on the economy.  All of the articles coming out speak of the positive effect on the economy of “deleting the zeros”. 

The above article speaks of the “gradual” implementation.  A lop cannot be done gradually.  That is one of the reasons, a free float is good for us.  If the currency free floats from 1166, there is no way to have a  lop.

Kaperoni:   We have 100 articles from the CBI, Finance committee, etc from people who know.  And they describe the plan for the dinar.  Now one article comes out that is confusing by someone I never seen or heard of before and the sky is falling…lol    I say, when in doubt, go back and read some of the articles…start with Turki last week.
DarbSalad:  Did Dr. Shabibi plan to initiate a float on the currency without passage of those economic laws?  I am not sure what Turki spoke to Nujaifi about on Wednesday.  It is pretty self-evident that Nujaifi is not motivated to hold parliamentarian sessions and pass the necessary laws.

Boomer911:  mexia74,  I respect your opinion and all others on here as well. You’re right that a LOP is neutral, if that’s all they do. However, the value of the new currency, of which we all agree is coming, would definitely be changed and that would have a positive effect on the economy.

If they are replacing and demonitizing the entire 80+ trillion..in current dinar……then putting out a seperate currency at approximately 80+ billion, once they are done and reach the end of the specified timeframe, about two years, 80 trillion is retired and gone and only the new currency bloc of 80 billion exists.

The “gradual implementation could be the two years they exist simultaneously while they are pulling in the old ones that have been LOP.

 I’m in this like all of you til the end and I as much as anyone can’t wait for it to start floating as I agree with the sentiments expressed here at DA. I’m just throwing it out there that the wording in this suggests LOP…whether that’s accurate or not.  ***I will not use capital letters in my posts.

U mad bro?:  Boomer911 –  Am I understanding you right, do you believe their is 80 trillion plus in paper currency?  If so, where on earth are you getting this number from?  My estitimate is more like 5 trillion..  6 at most

Kaperoni:  Boomer, first off you need to read the article.  Nowhere in that article does it refer to any neutral event. In fact, that only portion in the article that it refers to what you suggest is prefixed by this statement…

“It is also essential that clarity is available in the content and significance of the scientific and economic exact currency exchange process.”

In other words, he has no idea what the process is and wants clarity before they do anything.

Secondly, Shabibi tried twice to raise the value of the dinar. We know that and if his intentions was anything other than that, then the CoM actions (stopping Shabibi) makes no sense. 

I suggest you research this investment a bit more and put all the information in the correct context before you spout off on one article.

Timsters:  hi kap you say there are laws that need to be passed before they can rv/ff  so how did shabbs try to rv/ff with out those laws in place ?  just asking how it was possible to as you said (Secondly, Shabibi tried twice to raise the value of the dinar. We know that )  with out these laws in place ?

Bigbadassdog:  timsters, finally someone asked the right question……how could he have possibly done it back then when none of these laws were in place. So you have to come to the answer that they weren’t needed. 

Tripphood:  I think HCL is,  the (capital letters) law. I feel it will be done at the same time. HCL, rv or float. TaDa.

Tobyboy:  The CBI has been saying everything is done. I believe the only thing holding Turki up is getting  the strength of dinar up against the dollar and then he will start the RV/FF. EVerything else will fall in place as such, laws that are needed will be passsed  after starting of the RV or FF. I believe that Shabibi was going to do the same knowing they would have to get the laws done when they saw the wealth staring them in their face.  IMO

Punisher:  bigbadassdog, I asked those same questions a while back and nobody answered it….

Geezer: Timsters, I have been meaning to ask this very question on a conference call but have not been able to participate at the time of the call….

Shaund2073:  Tobyboy, exactly he was going to make them move there lazy zubers and pass the laws once they seen the investors wanting to come in and the people demanding… but maliki didnt want that until chapter 7 was gone  or whatever else  just my opinion

–the fiat currency will fall as asset back currency will take its place

Kaperoni:  Punisher, Geezer, this is pretty simple.  Shabibi was only concerned about his monetary policy and what was best for the banking sector (he was adamant that the CBI was independent) and wanted to do what he wanted to do on his timeframe. 

The bottom line is the CBI has authority under the CBI law to change the value of the dinar anytime, even now.  And Shabibi raised the value several times over 10 years.  When it came to this event, the prepared and were ready to execute it twice – once in June 2011, and again early April 2012. 

That does not mean it was the right time or what was best for Iraq, it was what he wanted to do and I assume he felt was best for the banking system. 

Clearly, there is much to be done to support the free market economy in Iraq.  Laws, banking reforms (some just completed), investment contracts, political stability, less violence, etc. 

And IMO,  Maliki wants these things done before he is willing to let the dinar rise in value.  Again, that does not mean it cannot happen, just that it appears that Maliki wants everything place first to support it.

DarbSalad:  That might be an insurmountable hurdle with Nujaifi in control of parliament.  You are luck if they meet twice during a week.  Nujaifi is either incompetent or evil.  Hopefully, Turki instructed him to get the remaining laws passed during their conversation on Wednesday.

Punisher:  Kap, but even if Turki tomorrow tries to raise the value of the dinar I thought you said unless Maliki is on board it aint happening…he does have veto power right?

BlueyesinLevis:   If by Veto Power you mean getting a Crooked Judge to swear out a bogus warrant against the Governor of the CBI to STOP them in their tracks…

They will NEVER be stable enough or have ALL the laws passed.. in advance of lifting the rate. It just wont happen. At some point.. the CBI is gonna pull the trigger… things will start moving.. and the Parliament will be playing catch -up.

The new rate will BRING STABILITY.. and progress and forward movement of infrastructure, banking and economic development.

At some point… they are just gonna have to do it…. and let the chips fall where they may.

Wgw242:  Amen to that statement Blueyes.  The GOI’s MO has been nothing but catch up. The CBI is the key. They seem to be better educated, and guided by outside forces that know how and when to make this happed. Maliki has caused many set backs, but each time Iraq has become a stronger and better managed country. “let it come to us

BlowingRock:     Boomer..be not dismayed.  Kap and others are correct in that there ia a ton of excellent research here on this site, and some very intelligent members.  Unfortunately sometimes they (we) get a little impatient, especially with questions on the “L word.”  Your question indicates an inquiring mind. 

You should enjoy this site, the resarch, and the often-time (but not always) polite and learned responses to questions and following discussions.

Punisher:  Blueyesinlevis, I 100% agree with this. Many things in Iraq are like a broken record…Parliament meeting and doing the same thing over and over, Maliki saying yes to things or promising things yet doing the same thing over and over, the same articles coming out about the same thing yet nothing…

I think you are right about pulling the trigger and let the chips fall as they may….Parliament will have to act if the c.b.i. raises the value because I’m sure they want to see Iraq grow and not collapse. Seems it is still up to Turki at this point…

Bigjon:  thelonger maliki can delay this thing…the more funds he can funnel to iran and his own accounts…thats jmo

Punisher:  Bigjon, and the higher the value will have to be raised in my opinion. More reserves etc…is a good thing

Boomer911:  Thank you Blowing for the kind response. I agree with you and Kap that there is a ton of excellent research on this site and I have been trying to absorb as much of it as I can along with other stuff that is out there.

 I do have an inquiring mind and want to know all sides so I know what might be coming as far as this investment goes. With only one mindset, I would be surprised and absolutely heartbroken if what we all want to happen doesn’t. At least this way, I’ll know.

I most certainly didn’t expect the reaction from certain people merely because I gave my opinion and likening it to “spouting off”. The ironic thing is the day before, I posted a response to an article posted by AdBob where it was talking of “removing zeroes” and “removing the yellow from coins” in the same article.

I cited the two statements because it clearly showed the context of interpreting “remove zeroes” as opposed to “remove the yellow from the coins” in that we knew the article didn’t mean removing the color yellow from the coins but removing them from circulation.

I even said “for all you doubters this should ease any worry of a LOP”. But unfortunately  the comment was deleted sometime yesterday morning.

I do enjoy the site and benefit greatly from the hard work of others more studied on the subject than I but confess that it gets harder to do so when I get hammered for simply giving my opinion.

–Proverbs 3:5-6 Trust in the Lord with all your heart; do not depend on your own understanding. Seek his will in all you do, and he will show you which path to take.

AdminBob:  Boomer, you should never be “hammered” for expressing your view.  I will talk to mods.  Stay on topic of the article and you should not be deleted either.

Tobyboy:  Punisher Turki has the power to raise the value and Maliki can not veto his RV/FF once it is done. He can make life hard for him as he did with Shabibi with a bogus arrest warrant, but he has been given the authority for RV. The CBI is still independent of the government.

DarbSalad:  The Iraqi Government announced that Thursday was a public holiday due to high temperatures.  The ISX was closed.  Turki needs to get off the dime and start this process.  Their electrical grid will not expand out of thin air.  Pretty embarrassing for your stock exchange to close for trading due to high temperatures.  That has to be a first.

Tobyboy:   DardSalad No not a first If I remember last year same happened all government closed down due to extreme heat. But it is pretty embassassing with all the wealth they have and have currency not worth as much as toilet paper except to use as boarder in bathroom.

Punisher:  Tobyboy, with that said I hope Turki has the balls and vision to start something soon…the Iraqi people need it more than we do!

Tobyboy:   Punisher, Lets hope he has the balls to get this going with this Surprise he said was coming. Tomorrow the auctions price 1180 by the Banks Lets hope this bring the strength of dinar up against the dollar. I have said all he waiting on is strength of dinar against the dollar. Lets hope he can get it & hold within 2% then I think we see a nice Surprise

WEDREAM:  not that i think im answering for Kap but…while shabibi most certainly did try, he was unable because of the lack of much needed laws. he originally said he would raise the value after the seating of government & much needed legislation.

IMO believing that parliament would want what was best for iraq ie: rv of the currency. he needed as does turki ,parliamentary cooperation.while CBI makes & implements monetary policy, CBI cannot implement laws needed to coincide with monetary policy,   without the laws needed to make it work monetary policy would fail. i hope this helps your understanding

Punisher:     Tobyboy, I have wondered what this surprise could be…could it be a raise in the value of the dinar right after Ramadan, could it be Oct 1st we get a surprise …or could we have a happy new year and a surprise on Jan 1st

DarbSalad:   WEDREAM,The Iraqi people are in serious trouble.  Nujaifi will not bring these measures to a vote.  They would appear to straightforward proposals that do not create dissention in parliament.  What is hindering Nujaifi from quickly passing these laws.  They have basically been on vacation for four months.  Obviously, a few are profiting from this system.

Tlar:       One thing that the CBI needs to do this is not new laws.  Shabibi was ready to do it without new laws.  The laws are necessary to promote investment and a free economy.  Not even Chapter VII was a requirement.  The truth is Shabibi wanted to do this last year without the laws and without Chapter VII being removed. 

The currency is a whole other matter and can be RV’d/FF independent from everything except one thing. 

The government needs to support this change because they are supposed to be the watch dogs protecting the process against the counterfeiters, and it is imparative for the CBI to see that they will assist this project, doing their job which is to minimize the risk.

 Mostly the word mafia’s has been associated with the dumping of bogus currency in Iraq.  The government has gone after the obvious little counterfeiters where they find them.

They are independent and have no affiliations, but Maliki’s government has shown reluctance to tackle state sponsored counterfeiting. 

Through its non action, has actually looked like they actually support it .  In all the years counterfeiting has been an issue, Iran’s name has never been mentioned by the government nor has there been any arrests or investigations into this activity.  When we hear a Maliki MP saying mafias are getting ready to rig the process, IMO they are referring to Iran and they are still trying to stop or postpone the process at the very least.

  Iraq is already flooded with counterfeit currency as we know.  Some vendors have voiced reluctance to deal in dinars because of the amount of bogus currency circulating in Iraq. 

We know that certain banks have received counterfeit currency and even opened accounts with it as the CBI has attempted to get them to Identify these accounts, confiscate the currency and close them.

I think the bank is more than ready and has been for quite awhile.  The banks needs the government to do their job which is to protect the process until it is done by seeing that “all counterfeiters” are the enemy.

  Maliki’s government has shown that his loyalties are in supporting Iran at the expense of his own country.

  We know Maliki has favored Iran in trade and supported Iran in its venture to save the Assad regime.  We know Maliki would not be PM if not for Iran getting Sadr to throw his support behind him. 

The relationship between Maliki and Iran is deep so much so, that he has gone against UN sanctions imposed against Iran again and again, risking his own credibility with the international community.  

This is the same guy and his government, that need to give assurances to the CBI that they will protect this process from being taken advantage of.  He has shown the CBI time again that he cannot be counted on.  He has shown the CBI that they will not side with the CBI over Iran’s interests. 

It may end up that the CBI has to wait until his regime is gone in order to get the guaranties it needs to feel comfortable in making this change.  The below paragraph is very telling.

“But the bank issued a statement returned in May 2012 announced the postponement of the implementation of the project, even though it completed the bulk of the necessary procedures required by the process. He attributed the reason for the delay to the need to secure the requirements of coordination and cooperation between the legislative and executive branches.

There was no reference in the discussions and debates that took place on this issue to Chapter VII the head, but the most important objections revolved around the inability to control and to control counterfeiting, money laundering and other areas of corruption, which can accompany the process of changing the currency.”

The bank has no police force in which to control counterfeiting.  This is a government responsibility that has not been exercised against the problem. 

The bank has called for the government on occasion in the past to stop the proliferation of counterfeiting but to date, those calls have gone unanswered. Just like laws that have been voted on by parliament that have not been enacted by this government because Maliki did not like the law, this just might be our delay. 

DarbSalad:  Great insite Tlar.  One question is wait until this regime is gone?  I have my doubts that Maliki will go quietly with a possible defeat in next years elections.  Evidence has shown that no one will stand up to him.

Punisher:            Tlar, if by wait you mean when Maliki is gone then we will all be here until next April…which is very possible.

Tlar:       punisher, the elections are in December

Punisher:            I know but Maliki is Maliki and he will make sure he squeezes out ever last ounce of his Prime MInistership until April I believe when he must be out.

KellySue:             Tlar, elections for PM is this December? I thought they were not until April

Punisher:            As far as I know, and I could be wrong, April is when we will have until to put up with Maliki. I really hope we don’t have to wait that long for an rv/ff because January is when I expect real movement.

2COLLECTG:       guy`s the central bank is learning to be devoid of politics and imho the world bankers are now in control this is bigger than maliki or shabibbi or any other iraqi politician the international monetary & banking community are now in charge! this is about money and a whole lot of it!

–i bought this stuff for a penny i just want to sell mine back for a dime!

Punisher:            2Collect you are 100% right…but Maliki still is Prime Minister. He cannot just be thrust aside like a toy soldier. I just hope Turki digs deep down and gets some guts to make some historic moves…scary to think alot of this is in a Turki’s hands.

ZenMav:             I hope Turki digs deeper and gets something else that rhymes with guts.

2COLLECTG:       p prime minister is just a word! question does politics run money or does money run poltiics?   –i bought this stuff for a penny i just want to sell mine back for a dime!

Smart cards for electronic shopping

07/22/2013 12:00 AM

Baghdad morning
counting academic economic Essam المحاويلي cards use electronic payment as the phenomenon of civilized aims to reduce the use of banknotes. called المحاويلي told (morning): the need to mainstream work out and expand the use to include paying bills and shopping from the big markets deployed in the province of Baghdad and the rest of the other provinces.

pointing out that there is a desire among some owners of those markets using electronic payment systems as represented by the ease in getting money and traded in this way, as well as it’s healthy and in place in most countries of the world., and expressed the hope that this will be of service free for shoppers and citizens without any commission.


Finance for parliamentary "Awan": the bankrupt banks are unable to repay deposits of citizens and other loans to officials granted without collateral

Baghdad Awan

Revealed the Finance Committee representative, on Monday, the inability of banks civil "bankrupt" for repayment of deposits of citizens, accusing the Warka Bank to grant loans without collateral to officials gangs over the phone, as called for economic and investment commission Parliamentary need to modify some of the paragraphs of legal private banks and the central bank.

A member of the Finance Committee parliamentary Magda al-Tamimi told the "Awan" "The committee has received a lot of complaints by citizens unable to insolvent banks for repayment of their deposits", describing it as "dangerous", the point that he "loses the confidence of citizens in dealing with private banks Iraqi What a negative impact on the country’s economy " .

They pointed out that "there are banks, civil and the most prominent of the Warka Bank, granted loans by phone without collateral, particularly for officials gangs in the state," asserting that "the owners of these banks invest in another country, what Ajalam in front of a fraud case, due to weak supervision " .

Revealed Tamimi "The committee plans to host D j t j private banks and the central bank governor next week , to discuss the law of private banks , "adding that" the Commission has no intention to hold a conference or workshop for the purpose of issuing laws or amended " .

She pointed out that " the Finance Committee deliberated with the Governor of the Central Bank of the reality of the private banks that suffer from problems , "adding that" so practices and such a work environment that represent indicators bad and dangerous to the economic movement in the country , because the investor will lose confidence in dealing fiscal with our banks " .

In turn, called for economic and investment commission parliamentary agreement with the parliamentary Finance Committee, the need to modify some of the paragraphs of legal private banks and the central bank.

A member of the Committee MP Salman al-Musawi for "Awan", that "some legal clauses of private banks and the central bank , hampering the functioning of the economic process in the country " .

He noted that " banks in the Iraq ranged conveniently, and we urgently need to support institutions for the development of the economic process, and this in turn needs to large banks and insurance companies


good governance, to eliminate the need to control corruption in the implementation, but fail
22-07-2013 12:40 PM

Baghdad (news) ..

A member of the Economic Commission Kurdistan Alliance MP Jassem شنكالي, the need to combat corruption in state institutions with good governance. said شنكالي (of the Agency news):

The use of good governance and governance of governance in state institutions lead to the achievement of its goals the elimination of corruption through the introduction in the administrative apparatus of the staff and implemented properly.

added: that there are people who have expertise in the implementation of this system or any other system, adding that the planning collides always by force, even if the sound but needs to follow up and monitor the implementation will fail Whatever plans.

It is noted that it is necessary to emphasize the role of religious institutions and civil society organizations in various directions to create the atmosphere of awareness will contribute effectively to create a culture of good citizenship, which is the first foundation of the foundations of good governance.


7-21-13 AZhombre: 3 Basic Currency Exchange Choices, It’s a Free Country, It’s Your Choice!
We are constantly being reminded to have a “plan” for our pending RV. Obviously you don’t want to wait until you are sitting in front of your private banker to begin planning for your currency exchange. We’re in a “catch 22”. We don’t know the details of our pending cash-in/exchange process, so many are asking a lot of questions on the Dinar sites. People are seeking additional knowledge in order to feel comfortable enough to make a decision. Many are fearful because things are not clear.
Anyone who has experience in sales knows that “confusion” always results in “indecision”. Too many choices will drive a buyer away! That is why many continually ask “the same questions”. Rather than criticize those with questions, let’s simply try and help them understand. And let’s remember the landscape in “Dinarville” is constantly changing. It wasn’t that long ago when we were told to never use the term “cash in”, which had been used for years, but instead use “exchange”. The reason cited was to avoid taxes! Hmmmmm.
What are our basic options?
This is like the TV show “The Price Is Right”, with Bob Barker. Unfortunately, just like the guy with prostate cancer who is given “alternatives” to his problem, there is no “perfect” door.
Door #1: Comparison Shopping.
Check out the Banks and currency exchange centers. If you want all your questions answered before going to your appointment with WF (the group deal), and want to do some “comparison shopping”, or you want the oil credits to stay in the USA and not go to China, or you are interested in forming a group and “negotiating” for your own group deal, then perhaps you should consider this route. If you decide to compare, use caution, just in case the warnings we’ve been hearing from the “bank negotiators” are true! Check out everything the big banks (JP Morgan/Chase, Citi Bank, Bank of America/Merrill Lynch) will offer you.
Check out the “private banker” web sites to learn what you are entitled to as a wealthy investor. Don’t be afraid to “park” some of your new “cash in” funds in your local credit union and or smaller regional banks, as long as they are stable. They can be great resources. Be up front with your private banker and let them know you are “shopping”. Ask questions about Rates, Restrictions, Perks, Taxes, etc. Ask them what they would ask you if they were in your shoes. Ask them what they can do for you. If you have several million, you could even let them know you have X amount of $to deposit, and 20% is going to 5 different organizations that could include them. After 18 months, the organization with the best performance could receive the majority of all the funds to work with.
Since you’re taking the private banker’s time, don’t be afraid to open an account with them if you don’t already have one. You can always use that account in the future even if the majority of your funds are not deposited there. For example it could be used as your “vacation” fund account. Have an adult family member or trusted friend help you cash-in a low denomination note resulting in less than $10k just in case the “FINCEN & NSA scare” reports are true. You can use the acquired money to prepare for your exchange (securing professional help of CPA’s, trust attorneys, etc. , that may need to be set up before cashing in your “mother-lode”anyway).
Now that you finally have some confidence because you have (a) some money in your pocket, (b) “knowledge” in your brain, and (c) a happy heart, if you have layaways and/or reserves, you better not forget to open another door… (yeah, I know you couldn’t do that in the Price Is Right, haha).
Door #2: The Dealers.
After visiting with them, depending upon when your layaways and/or reserves are due, you could pay them off and receive the IQD currency to exchange at the bank of your choice, or go ahead and exchange with the dealer(s). Should the rate increase in value, you have the flexibility of locking and canceling in your “sale” rates over your computer as you watch it daily!
Door #3: Group deal at Wells Fargo Bank.
With the help of the “negotiators” -and I’m not talking about William Shatner as the Priceline Negotiator- this is perfect for the faint of heart. All has been worked out in advance for you. Please remember in all cases the people you are talking with are paid by their , or this “Dinar” Breakout: of WF bank as a local merchant or car dealer that advertises “after you have done your comparison shopping come to us and we will beat any offer you have. ” Because the proponents of this option discourage “comparison shopping”, many peeps also view this option as “The Wizard of Oz” no attention to that man behind the curtain”. Obviously if you do not want to compare options, or negotiate rates, then call the 800# – 888# when it finally arrives, set your appointment, follow their directions, and enjoy your new found wealth.
Isn’t it great we live in a country where we have freedom of choice? Unfortunately we have seen very little “constancy amid change” in our journey, with the exception of the RV/RI not happening when so many thought it would. Hopefully this time it will, and soon, like any second now! …5…4…3…2…1…

Emailed to Recaps:

Imitators get me sick and mad – Bluwolf message sent to Recaps:

The following conversation never occur, bluwolf is not in any room and is not in someones Q&A. I want all to know that all my messages to you all will be through the exclusive of dinar recaps and some friends.

I will ask this impostor to step down and to respect my good reputation to all dinarians.

The following is what is traveling around shame on you. It never happened. 

 [07/21/2013 21:31] [bluwolf] Hi [Baller] bluwolf how is the leader of the pack today?? [bluwolf] Ok just got a call on my side of the pond. All financial institutions have activated their money reserves [gramps77] bluwolf What does that mean? [dinardebbie60] Bluwolf so when will we see it? Thanks [bluwolf] As off now
Read More Link on Right


[heyu288] Lets recap:: okie knows nothing today, zap us delaying up to 60 days and No tony call sure sounds like a RV to me!! Roflmao

shatterstar] Bernanke in april announced that we will implement basel 3 protocols. Early July the federal reserve voted on it, and on July 9th the FDIC voted to adopt it.

[shatterstar] All the major banks had “system maintenance” and now this weekend a lot of the smaller branches had “system maintenance” in addition to the Swift system

FLPatriot59] [xxxx from TNT] I have my own bank story, My own personal banker confirmed to me last wednesday that she got the email for the go ahead like robertprofessor posted, she was so esxcited and is watching. She will call me as soon as it hits her screen. TREAT AS RUMOR.

shatterstar] And now with the Poof&Zap thingy.. Dont be surprised if we hear a formal announcement concerning the UST being gold backed and basel 3 compliant. The Fed has already did their part. But there are too many pieces in place for this to be ignored…

shatterstar] John Kerry said that the meetings were done and the United States are basel 3 compliant.

[jetpack] shatterstar well zap also may be 60 days out lol hmmm

[shatterstar] jetpack yeah I know.. but anything can happen. It is Iraq that we are talking about. But we are also talking about a lot of money. There will be serious complications if this thing is pushed out 60 days

 [tigermike] .      http://video.foxbusiness.com/v/2554048936001

[gdsgrl21] tigermike good find!

[shatterstar] I don’t even want to think about what China would do. Heck they might choose canada, and all of us start going up there to exchange or something…

[BJandJodi] Shatterstar – there is more to it, though. I have seen a few intel indicating if it does not happen this week, it will be pushed out til mid-Sept or 60 days

[shatterstar] BJandJodi I have seen those too… but if that happens there are a lot of implications for that. a lot fo consequences.. but if they tested a few times already, and everything is done.. Its hard to imagine anything else holding the process up..

[cajungirl1] we need HCL then a Rv will happen

[shatterstar] cajungirl1 not necessarily. That is for domestic revenue sharing. Has nothing to do with us, and most of it is done anyway.

[sandytob] shatterstar But Zap said that the delay was because of a failure to agree on some point and although it is rescheduled for this week, they still need to reach and agreement. So I am surmising that one of the parties in this agreement is China.

[shatterstar] sandytob it may or not be. But a lot happened this weekend so we don’t know if it was fixed or not.



[CountryGirl59] loechin] This week has be a week like none other… It seems like most of the RV info all points to the FACT of the RV being over now. We are waiting on the release from the bank and that could be any second.

 cruiser]  Everyone has to be on the same playying field. Now I know the EU is Basel III, just like the U.S banks have been for months, but we will have to wait for the formal announcement and that comes on the 1st.

cruiser]r WF has been Basel III since January 1 2013 (compliant with the 2013 regultations for the 2013 ) so the announcement last week was just a formality. China having anything to do with WF is irrelevant. and the private excahnge also. We are talking Global Banking, Not one Bank in the U.S.

cruiser]  We all are waiting for the official annoencement and personally I do not care who or what makes it. Just make it already so when can all move on.

[nolagirl] cruiser I AGREE 100%!

[Dnari13] Dont be surprised if we see it on the screens first with no announcement other than the codes we’re hearing and they’re giving us

[Dnari13] heck at this stage I just wanna see it on the screen they don’t need to announce anything! 

 [nolagirl] anyone else find it amazing that the kuwait rv was not in the media… and yet, we still think this will be – here has got to be one idiot that is going to run to the media with their winnings. i am just ready to have all 0 balances on my credit cards and to feel the freedom!  

cruiser] nolagirl This will be a very visible event. Not all aspects of it, but some parts of it will be.

[Dnari13] nolagirl true story. Kuwait and China when both RV’d on the down low. In fact, I think China told people they were stupid in thinking they would then next day boom

[ChildOfGod] cruiser You had mentioned the first … what do you see happening at that time/

[cruiser] ChildOfGod That is when the EU banking system goes Basel III


Spades] Well cruiser here we wait again .

cruiser] Spades Yep. Another week has gone by.

[Spades] Cruiser gold going to drop big next week I hear .

[cruiser] Spades does not matter. Unless it is the reset number and then it will not matter because we will be done.

[ cruiser] Spades That is why I keep saying to everyone that none of this matters. We will see it or traces of it.

Spades] Cruiser I agree . Then look out .

Spades] I said next week sheesh today begins this week



[subtle] the zap..”up to 60 days ” thing has got a few down…any thoughts?

[lgtennis] subtle pay no attention

[wango1] subtle reread it he said this week first

[oucrazy] lgtennis. . . is the nonsense from Zap true about a delay and the door for July is/has closed?? thnx

[lgtennis] oucrazy not true

brandonbjn] [Dnari13] Howdy ya’ll not to beat a dead horse but Exxogen just got a text mssg from his inte, an agency saying the RV is done. Again, dead horse by now all things considered…just passing along..he’s not calling it tho as we look for it



..SpecialAgentGibbs] Two weeks ago, large banks such as WF, Chase, etc. all oddly went off-line for several hours at the same time and informed their customers it was “scheduled maintenance”.

[..SpecialAgentGibbs] Last night into today, at least 20-30 other banks, including Lloyds of London, have notified their customers of the exact same thing…”scheduled maintenance”.

[dilandinar] ..SpecialAgentGibbs Sounds like pretty exciting stuff!

7-21-2013 Newshound Guru Millionday i told you about the final approval of the imf and we know from a few days ago the world bank gave their approval so this is what they plan to do to do it successfully and it obviously means right around the corner somewhere because this is preparation for activation of all reforms economically. Article quote ”Suggested an economic advisor to Mjelbs National Business Iraqi formation of an advisory board top is developing the economic policies of the country in coordination with the Ministry of Planning and Development Cooperation”… so this is the team development to monitor it all as they pull the trigger. it is a very positive day in the dinar world if i do say so…wow the news is exciting right now.