7-26-13 Diwd: Yesterday late afternoon one of my brothers went into WF in Los Angeles to speak with the manager (she is also invested in the IQD) about the IQD. My family/group have a lot of IQD and we are spread from California to Georgia. The manager told him that the rate is between $5-8, she also gave him a phone number to call. We have all called that number but you can only leave a msg. She gave no timeline but said that they too are expecting at any time.

The Realist: …allow my source to again prove its accuracy.. In the coming days the rate will move to a 1 to 1 scenerio. They will match our U.S dollar and in 3 years time will push towards the 3.30 rate that they demand for. Here is part of my sources article: enjoy(

Expectations of a number of experts, finance and economy collapse of the dollar is not at the global level because he is still master of the currencies in most countries of the world but مايهمنا at the level of the exchange rate in Iraqi dinars, we hope for the return of Iraqi dinar exchange rate against 3.3 dollars as it was, but this dream difficult to achieve and reach It is not possible to achieve in light of global variables but achievable to get into a price equal any one dollar against the dinar.

Dream second can be achieved gradually, if we have a good deal this spirit of cooperation between the central bank and private banks, while led this cooperation to control the volatility that has plagued Sarsrv dollar these days.

7-26-13 Tony: We are right where we wanted to be yesterday and the day before – it should have been over and done with last night but there were some changes at what happened at the UN and after they rang the bell and it created some last minute controversy…everything was fixed and redone…told you on Monday that something was going to happen at the UN on Monday and I can tell you that there is something planned for later today if it does not go through…not a bad thing — still gonna get us what we want. If it does not go through ALL eyes will be on the UN. One of our contacts called his family member this morning and told him get on a plane and come home our blessing has arrived.
News article said all cards will be processed by the end of this month…we have heard that before and seen it in writing before but I can tell you that this time is clearly different because there is an absolute deadline involved and people are in position to make sure that deadline is met. Banks told me the requirements for things to be met for this to happen and everyone that they gave me is already met…everyone is prepared. The number that I got this morning are so ridiculous – more than you guys ever dreamed of and there is a ridiculous rate for the dong and you will have to know what it is and ask for it. Something is going to happen one way or the other this afternoon… could be great day.

Paxx:    I don’t see the point of stabilizing the current rate,brining the street rate together with the official rate, rate stabilization in an artificial market, a 4 pip reduction or any of that stuff.

Once they go international, none of those things will have mattered. Once they go international, de-dollerize and have more IQD (low denoms) on the street, it will increase the velocity, liquidity, and value of IQD. It won’t matter if they could stabilize any of this closed monetary BS.

Once they go international they will be dealing with bunch of new monetary, banking, economic problems, but good problems and ones that take place in an international reality, not some artificial limbo they are in. So IMO all they need to do is go from article 14 to article 8 and take this MOTHER international and let it float or RV and float. They just need to DO IT.

– Gold futures traded higher in the early part of Friday’s Asian session, building on gains accrued in Thursday’s U. S. session thanks to some weak jobs data.
On the Comex division of the New York Mercantile Exchange, gold futures for August delivery rose 0. 35% to USD1,333. 45 per troy ounce in Asian trading Friday after settling up 0. 67% at USD1,328. 35 per ounce in U. S. trade Thursday.
Gold futures were likely to find support at USD1,269. 45 a troy ounce, the low from July 17, and resistance at USD1,347. 85, Tuesday’s high.
In U. S. economic news out Thursday, the U. S. Labor Department said initial claims for jobless benefits rose by 7,000 to 343,000 last week. Economists expected a reading of 340,000 new claims. The unemployment rate among people eligible for benefits dropped to 2. 3 percent in the week ended July 13 from 2. 4 percent the prior week, according to Bloomberg.
Durable goods orders jumped 4. 2% in June after a revised 5. 2% increase in May. Analysts expected an increase of just 1. 4%.
Core durable goods orders, which exclude volatile transportation items, were flat in June, missing expectations for a 0. 5% increase, which supported gold prices.
Tepid U. S. data has proven helpful to gold because it helps alleviate concerns that the Federal Reserve will act quickly to begin tapering its USD85 billion-per-month quantitative easing program.
Elsewhere, Comex silver for September delivery rose 0. 38% to USD20. 230 per ounce while copper for September delivery fell 0. 16% to USD3. 185 an – offers an extensive set of professional tools for the Forex, Commodities, Futures and the Stock Market including real-time data streaming, a comprehensive economic calendar, as well as financial news and technical & fundamental analysis by in-house experts.

7-26-13 Tlar:  [Q.  is it your opinion that we will see Iraq move to article VIII sometime in next 30 days?]

A.  I think Turki will have to do something very positive to the currency in order to keep these banks from straying from this plan. Let’s assume for a second that this plan that is targeting reducing the street rate is successful in a week.

Turki must do two things to insure that the banks sacrificial effort is first rewarded, then no longer necessary. Without a reward, the banks won’t hold to this plan.

Without an at least some semblance of a termination of this sacrifice, the banks won’t hold.

In other words the banks can not continue to sell the dollar at 1179 because there is not only no profit in it for them, but they actually incur cost. The lines of people that have been waiting to be served everyday require bank employees that cost salaries.

These bank employees become instantly a burden because they make no money while they work all day. They are unproductive. It is the hope of the CBI that these lines will diminish as the rate stabilizes.

We have heard that there is less demand for the dollar but that is not born out by the sale of cash dollars at the auctions as of yet.

So while the thought is basically sound in this plan, if the plan starts to disintegrate because it either takes to long or the banks begin to believe that they will not see the carrot anytime soon, the plan again won’t hold.

As to your question on IMF Article VIII. I think there is ample proof that these banks are not unilaterally making this sacrifice. In other words there most likely is a reward for their “selfless act” on the table but just not public announced.

If we look at what the bank could possibly bate these independent banks with that might make it worth their while to eat their own body fat, the list is short.

I see RV and IMF Article VIII happening at the same time followed by either a free float or a managed float. Most importantly though, there must be a change in the currency because these banks would never make this kind of a sacrifice just to watch the currency start to creep up.

That’s a formula for disaster in my opinion because again, the banks can’t do this for long. If they break the plan no matter why at any point, the CBI will have to regroup and start all over again.

Changing the value significantly, changes the conditions on the field. One it should immediately stop dollarization in its tracts and actually reverse the trend making the sales of dollars a very small part of the banks profits.

I think it was stated in an article or someone on here said, “there is a complete shift in policy going on.” I too see that but I see more important that this plan is the vehicle to get there quickly.

Bringing the rates together is but one step of this plan. Step to is the reward and it the first part works, Turki better provide the second.

Once the reward is instituted the massive amount of dollarization will disappear and actually reverse.

That’s why I believe Turki will delete the zeros, institute Article VIII, and immediately reverse the course they have been on. He must do it in a tolerable period of time for these independent banks or their sacrifice will have been in vain..

Financial lift parliamentary draft budget of the House of Representatives in 2014 to the Presidency of the parliament
07/25/2013 – 12:30 am
Of the Finance Committee ended a number of the latest draft of the budget estimates for the House of Representatives for the year 2014 with the final report prepared by the Committee on the budget in accordance with legally defined deadlines.
It was submitted to the Presidency of the Council for inclusion on the agenda of the meeting for a vote, and after informing of Representatives and discussed have been voted by the majority.
“It was an MP for the coalition of state law, Hanan al, has announced the allocation of funds in the federal budget for the year 2014 to buy clothes, indicating “There are several doors unjustified and illogical received the budget and the Presidency insisted that passed, including the exchange of two billion and 900 million for the clothes, wondering saying whom these clothes? .
Explained Fatlawi he “Yesterday the House voted vote primarily on the budget of the House of Representatives in 2014, has included this budget major irregularities and waste considerable public money and exaggeration in the doors of the exchange,” adding that “despite the objections of a large number of MPs and despite calls for MPs not to vote them but unfortunately been voted against it.
“and showed that” this is the first time you pass by balancing the House of Representatives time early while we are accustomed to budgets do not recognize, but before the end of the year or the beginning of the new year, “asserting that” the budget included an increase is justified where the [387 billion and became the [528] billion, an increase of 38 percent.

27-07-2013 11:30 AM
Baghdad (newsletter). Member of the Finance Committee, MP for the Kurdistan blocs Coalition//Jimmy, parliamentary Committee seeking to legislate a special law for Islamic banking allows banks to Government work in accordance with the Islamic Sharia, in addition to modifying the banks kaon.
He said capable (News Agency): the current banking law new purpose, many experts and specialists advising the House Finance Committee and in particular the new code of banking legislation in line with the current stage and the developments in various fields.

He added: Islamic banking in Iraq began to operate and grow so turned the Ministry of finance opens Islamic banking Windows at Government banks, the fact that the majority of Iraqi people are Muslim and committed to religious beliefs and warned against dealing with commercial banks ‘ interest-based ‘.
He continued: so the urgent necessity for the legislation of a special law for Islamic banks organized work and allows the creation of specialized government banks to Islamic banking, Finance Committee seeks to achieve