CBI News 07/01/2018

[Synopsis]

10 minutes ago, Bama Girl said:

Your thoughts are always welcomed and appreciated, thank you!!

 

 

As are YOURS (Thank You!!!), Bama Girl, AND The Best Of Your Week AND 4th Of July To You!!! 

 

Go Moola Nova!

[Bama Girl]

51 minutes ago, Pitcher said:

I don’t think so Bama Girl but what do I know.  Things are progressing and it’s eventually going to happen.  We wait. 

Totally agree Pitcher. I do not expect anything to happen with the CBI until the government is stable but that was my opinion and wanted others. Thanks for your feedback.

[ChuckFinley]

1 hour ago, Bama Girl said:

I am thinking exactly along the same lines Chuck. A lot is being done, but we still need a lot to be done imo.:-)

I think so too. We are seeing a lot of visual: media meetings. Master Card, Bank awards, but to me it is the unseen things that I am concerned about. What is really the gates that need to be accomplished and what boxes needed to be checked before they can RV. The problem there is that no one really knows. If that were the case we all would be here posting on the count down. We would be checking the list with them, buying more dinar as we were down to the last 2 boxes to be checked. In reality we could be down to 3 items or 5, but I am really liking what I am seeing.

[ChuckFinley]

1 hour ago, NoviceInvestor said:

September maybe 🤔

Novice investor, first I am hoping that this post finds you and your family doing well. It has been sometime and I know, as well as many of us, you want this done. September is possible but Iraq has more moving parts than a 5,000 piece puzzle. The CBI is doing a great job, but we do need a seated GOI and laws getting passed. I am hoping to see this done within the next week or so. This will be a good indicator of how fast we move forward.  

[navira]

The Central Bank of Iraq announced on Saturday the withdrawal of the license of a brokerage company to sell and buy foreign currencies for violating the instructions...this company violated the instructions....after what had been announced to keep the media quite, not until after Abadi meets the traders on Monday...this company decided to sell currency...smh...something is really up folks.... 6ly410, let's pop some champagnes with christoph....

[6ly410]

1 minute ago, navira said:

The Central Bank of Iraq announced on Saturday the withdrawal of the license of a brokerage company to sell and buy foreign currencies for violating the instructions...this company violated the instructions....after what had been announced to keep the media quite, not until after Abadi meets the traders on Monday...this company decided to sell currency...smh...something is really up folks.... 6ly410, let's pop some champagnes with christoph....

It’s ready buddy...  I agree something is up  🥂 

[yota691]

Iraq is outside the list of States subject to financial monitoring

02/7/2018 12:00 am  Baghdad / Al-Sabah  The Central Bank of Iraq, the official exit of Iraq from the list of countries under the monitoring and follow-up by the International Financial Action Task Force. The bank said in a statement received, "morning", a copy of it: "The International Financial Task Force FATF officially announced the exit of Iraq from the follow-up area." The statement added that this was due to the achievements of the Central Bank of Iraq and the Office of AML / CFT to improve and remedy deficiencies and to meet all its obligations towards FATF recommendations and to address the requirements of the Anti-Money Laundering and Financing of Terrorism Strategy prepared by the Central Bank of Iraq The enactment of the Anti-Money Laundering Law No. 39 of 2015, the issuance of instructions and regulations, the establishment of the Anti-Money Laundering and the Financing of Terrorism Council and the Committee for the Freezing of Terrorist Funds. "Consequently, Iraq is no longer subject to monitoring and follow- FATF ".

[Christoph]

25 minutes ago, navira said:

6ly410, let's pop some champagnes with christoph....

Let's get this show going lads!

[6ly410]

8 minutes ago, Christoph said:

Let's get this show going lads!

Let’s go RV let’s go

Edited July 2, 2018 by 6ly410

[NoviceInvestor]

1 hour ago, ChuckFinley said:

Novice investor, first I am hoping that this post finds you and your family doing well. It has been sometime and I know, as well as many of us, you want this done. September is possible but Iraq has more moving parts than a 5,000 piece puzzle. The CBI is doing a great job, but we do need a seated GOI and laws getting passed. I am hoping to see this done within the next week or so. This will be a good indicator of how fast we move forward.  

Thanks For asking Chuck, we are doing well again and looking forward to seeing this train stop at the station as I am sure you  are ..the past couple of weeks have been interesting and positive and I am wondering how soon the actual rate guessing will start or should I start the guessing.. 😊😊..

ill be happy at anything above .10 cents to start ...

[blueskyline]

3 hours ago, Pitcher said:

I was hoping by July 1st in April but now with the election setback I’ve moved my time frame for government stability and law passage

( absolute best case scenario) to Oct 1 2018.  Who really knows, for sure.  You read all the articles and you think we are close and boom, some obstacle we never heard of comes up,,,,,and we wait some more!!!

 

Im still of the opinion that nothing happens until the US gives the ok.  I may be way off but I think Trump May be using this reset as a negotiation tactic.  Have you EVER seen any President use every bit of US power, push back, and hard nosed barenuckle, in your face, negotiationing tactics on trade issues.  I’ve never seen anything like what Trump is doing and I’ve been around awhile.  

Go get em President Trump!!

They are now using their cards in Iraq Dinar inside Iraq and by surprise outside Iraq through the internet.  It's a Dinar Card. Who knows when the Dinar is released is correct . I don't think it can be too far . 

[10 YEARS LATER]

4 hours ago, Bama Girl said:

Well said 10 Years Later. My thinking is along the same line. I never want to discourage people but some get their hopes up with an article or two and I hate for them to be disappointed as we all have been in the past. Thank you for your input

 

You're most welcome Bama Girl   

[yota691]

The Central Bank of Iraq is out of the list of monitoring and follow-up after the fulfillment of its obligations

By Rudao one hour ago

Logo of the Central Bank of Iraq

The 

International Financial Working Group (FATF), the Central Bank of Iraq (CBI), has officially removed from the follow-up area, as the Bank and AML / CFT have made significant progress in improving and addressing deficiencies as well as meeting all the commitments required. 

According to a statement issued by the Central Bank of Iraq, "FATF has officially removed it from the follow-up area, as the Bank and AML / CFT have made significant progress in improving and addressing deficiencies and meeting all its commitments to the FATF recommendations and addressing the requirements of the Counter-Terrorism Strategy Money laundering and terrorist financing prepared by the Bank ". 

The statement pointed out that 'the bank has legislated the Anti-Money Laundering Law No. 39 of 2015, issue instructions and controls and establish the Anti-Money Laundering and Terrorism Financing Council, as well as the Committee for the freezing of terrorist funds.'

As the Central Bank of Iraq in his statement, "Iraq is no longer subject to monitoring and follow-up by the International Financial Action Task Force."

[blueskyline]

Thank You Yota . GM DV's

[fnbplanet]

 

I might be off base a little here, but the current financial crisis in IRAN may possibly peak the interest of the U.S. government, in the event of a sudden RI/RV of the Iraqi dinar, in anyone cashing in huge amounts of it here in 'Merica.  The anti money laundering departments ( if I were them ) would be watchful of these large amounts of funds in respect to just WHO was cashing in (people on certain "watchlists"), where the deposits were being held or transferred to.  Maybe even limits on how much can be converted to cash per month/year.  Just guessing that there might be some extra paperwork and/or investigative delays for monetizing our dinar when that day comes, in addition to the IRS watchdogs.  IMO

[bkeiller]

1 hour ago, fnbplanet said:

 

I might be off base a little here, but the current financial crisis in IRAN may possibly peak the interest of the U.S. government, in the event of a sudden RI/RV of the Iraqi dinar, in anyone cashing in huge amounts of it here in 'Merica.  The anti money laundering departments ( if I were them ) would be watchful of these large amounts of funds in respect to just WHO was cashing in (people on certain "watchlists"), where the deposits were being held or transferred to.  Maybe even limits on how much can be converted to cash per month/year.  Just guessing that there might be some extra paperwork and/or investigative delays for monetizing our dinar when that day comes, in addition to the IRS watchdogs.  IMO

 

That might be true if you are cashing your dinar in the US ... . It also might be true, if you don't pay whatever taxes are due. Render unto the IRS ... . And, it is always going to be true that there is going to be ... more paperwork! 😊😊😊

Edited July 2, 2018 by bkeiller

[keylime]

18 hours ago, Synopsis said:

 

You know, Bama Girl, THAT is a most excellent question (as always)!!! 

 

My opinion is the whole deal pertaining to Iraq has many, many moving parts and gears especially internationally. There likely is going to be a shifting of gears to meet Iraq’s and international aspirations or needs that could be more like grinding gears instead of a smooth shift. I suspect the MUST HAVES need to be met in totale whereas the NEED TO HAVE and/or NICE TO HAVES need to be mostly in place or at least at a minimum stability as the gears are ground.

 

My mental model is the election recount NEEDS TO BE completed and the GOI seated for a Safe, Secure, Stable, and Sovereign Iraq but that may not need to be the case. So, MAYBE the election recount does not need to be completed before the CBI reinstates or revalues the Iraqi Dinar AND Iraq goes to an “open economy” with an internationally recognized Iraqi Dinar from a “closed economy” with the corrupt daily CBI currency auctions with a program rate Iraqi Dinar.

 

The down side to all this is Sectarian Violence and especially Civil War so I do think time is of the essence since if Sectarian Violence or Civil War erupts, this will impede the reconstruction, construction, economic development, and foreign investment for some time. I can not imagine the reconstruction, construction, economic development, and foreign investment getting started at the needed capacity and rate without an “open economy” and internationally recognized Iraqi Dinar and Iraqi Dinar rate.

 

The Iraqi Dinar reinstatement or revaluation seems to me to be part of a much bigger Iraqi and international pictures so where the issues stand with the Iraqi Dinar stand compared to the election recount is something I just do not know.

 

Whatever the issues are, they are LOOKIN’ GOOD About NOW!!!

 

              

 

Just my conjecture, thoughts, opinion, and  for whatever THAT is worth!!! CAVEAT EMPTOR, Reader!!! 

 

In The Mean Time..........................................

 

Go Moola Nova (YEAH AND YEE HAW, BABY, READY WHEN YOU ARE BROTHER (OR SISTER) - LET ‘ER BUCK!!!)!!!

   

All good points. My thought is the CBI would change the rate as a sort of flexing their muscle statement that they are independent of the GOI and don't need their permission. As opposed to the Maliki years of trying to control them and the money. Changing the rate before the GOI is settled would be a huge feather in their cap and the people would truly know who tightens and loosens the purse strings.

[keylime]

16 hours ago, ChuckFinley said:

I think so too. We are seeing a lot of visual: media meetings. Master Card, Bank awards, but to me it is the unseen things that I am concerned about. What is really the gates that need to be accomplished and what boxes needed to be checked before they can RV. The problem there is that no one really knows. If that were the case we all would be here posting on the count down. We would be checking the list with them, buying more dinar as we were down to the last 2 boxes to be checked. In reality we could be down to 3 items or 5, but I am really liking what I am seeing.

We should put up a Dinar RV Boonsday Clock and everyone vote on what time they think it should be on it.  LOL! Since I believe August is our month I think it is 1 minute to Midnight.

[miquel]

6 minutes ago, keylime said:

All good points. My thought is the CBI would change the rate as a sort of flexing their muscle statement that they are independent of the GOI and don't need their permission. As opposed to the Maliki years of trying to control them and the money. Changing the rate before the GOI is settled would be a huge feather in their cap and the people would truly know who tightens and loosens the purse strings.

Yes, and the slew of articles and award proclaiming Alak and the Central Bank as being world class money men, is further propaganda for a people in deep distrust of the banking establishment... 

 

The message has been: Trust the banks. We can take care of your money. 

 

The government... not so much. 

[Synopsis]

1 hour ago, keylime said:

All good points. My thought is the CBI would change the rate as a sort of flexing their muscle statement that they are independent of the GOI and don't need their permission. As opposed to the Maliki years of trying to control them and the money. Changing the rate before the GOI is settled would be a huge feather in their cap and the people would truly know who tightens and loosens the purse strings.

 

Excellent Points, KeyLime, AND The Best Of The Rest Of Your Week To You!!! 

 

Go Moola Nova!

[jcfrag]

1 hour ago, miquel said:

Yes, and the slew of articles and award proclaiming Alak and the Central Bank as being world class money men, is further propaganda for a people in deep distrust of the banking establishment... 

 

The message has been: Trust the banks. We can take care of your money. 

 

The government... not so much. 

WARKA, not so much for sure....  🤨

[ChuckFinley]

17 hours ago, NoviceInvestor said:

Thanks For asking Chuck, we are doing well again and looking forward to seeing this train stop at the station as I am sure you  are ..the past couple of weeks have been interesting and positive and I am wondering how soon the actual rate guessing will start or should I start the guessing.. 😊😊..

ill be happy at anything above .10 cents to start ...

Great to hear. I always like keeping in touch with everyone here.

[ChuckFinley]

1 hour ago, keylime said:

We should put up a Dinar RV Boonsday Clock and everyone vote on what time they think it should be on it.  LOL! Since I believe August is our month I think it is 1 minute to Midnight.

Looking at Dec with some off the wall day and time.  

[keylime]

4 hours ago, Synopsis said:

 

Excellent Points, KeyLime, AND The Best Of The Rest Of Your Week To You!!! 

 

Go Moola Nova!

A safe and Happy 4th to you and yours!!

[NoviceInvestor]

4 hours ago, ChuckFinley said:

Looking at Dec with some off the wall day and time.  

Yours is a realistic estimate in Iraq's time mode but to read the posts of some it is "soon" "sooner" or "imminent" ...   in my mind skepticism is abundant with the reality of the workings of the Iraqi Political system coming in a close second.  An election was held six weeks ago almost and still no seated Government. Quite frankly it beggars belief .