Tankwalker

This is the latest post from Tlar..... Commentary by Tlar. -We should get what ultimately will be definitive results on a preliminary release from the Election Committee on Monday. Iraq may be more democratic than the US. There was a 70% turnout of eligible voters in Abar and a 77% turned out in Basra. Iran who tried to once again get Iraq to pick Maliki for a third term by pressuring the blocks last week to back him has found that their push has fallen on deaf ears. They attempted to have the Quds Forces talk to the blocks in hopes of breaking one of the coalitions but have come to the conclusion that the solidarity between the opposition blocks can't be broken. ~~~ The big four in the group, the Kurds, the Shia splinter groups, the Sunnis and the Sadrists are hanging firm on their demand to see Maliki gone. So Iran has publically told Maliki they cannot go against the will of the Iraqi people because they don't want to be seen on the wrong side of this issue once the results are public. They have stated that they are in agreement that Iraq needs a different government and told Maliki they will no longer press for a third term for him. Maliki's hopes of a third term is all but gone. Estimates of the opposition numbers on the final count could be as high as 225 out of the possible 328 MP's. That is more than enough to form a new government without Maliki. -There is a move a foot to get the budget passed by next week. The stopper we know is the Kurds but once the votes come in next week it is my opinion that the present parliament will negotiate, read and vote on the budget quickly. As long as the winds of change are validated through the vote tally and Hakim becomes the new power broker, I believe a deal will be made immediately with the Kurds behind the scene. They are scheduled to have more meetings on the budget as this parliament will be active until June 14th. Nujaifi the President of Parliament (POP) has said this parliament will continue to meet until the budget is approved or the next parliament takes office. The National Alliance will also have a meeting in the next few days to sort out the position of PM. Even the SOL will attend. I think the SOL will back whoever Hakim suggests to be PM because the party is in disarray and their leaders probably will be prosecuted or leave the country soon. So those in the SOL, the rank and file members wishing to positions as head up committees etc. in the new parliament, IMO will be jocking for position in the next government and will most likely not want to be seen as having their back against the wall. The heads of the SOL have already said they will nominate Maliki but they know its a futile attempt. Iraq may be issuing arrest warrants even before the new government is seated. The call is out to close the airports and borders to corrupt politicians and it is anticipated arrest warrants issued before they can escape Iraq. That has got to make for alot of very nervous DAWA and SOL politicians. Before the elections Maliki sent one of his people to Europe with tons of cash to try to buy/bribe votes from absentee voters. His guy took the money and disappeared and nobody can find him. Poor Maliki. He just can't get a break. -The CBI and Turki in particular has not said much about the coming money change over the last year and a half. Most articles talking of deletion of the zeroes have been from the FC, EC or economists giving their opinions on when and how. Since Friday Turki has talked to the press now twice. I sent you both articles. What he stated is astronomical to me for a guy who has said virtually nothing about this project for so long. The first article indicated they were waiting on the GOVERNMENT ELECTIONS TO BE SETTLED. It also said WE ARE READY to delete the zeroes. He also said that it is imperative that Iraq be prepared BEFORE HAND (not a float) to change the accounting systems in Iraq. The second article from Turki stated WE ARE READY and WE WILL DO THIS BY THE MIDDLE OF THIS YEAR. Recently the CBI has made some very important moves. They have reprinted the crossover notes to eliminate counterfeiting. They are replacing the existing notes as this commentary is being written. It's a good move. My opinion is and has been that the condition of the existing notes are so poor that Iraqi's will voluntarily swap fast to the new notes. Just prior to releasing the new notes, an article came out telling Iraqi's not to destroy, write on, tear, stamp or sign the currency. We did not know at the time but that article was talking about the new currency, not the stuff that had been circulating 10 years. Iraq is mainly dollarized and most transactions are being done in US currency but it is important to make sure "mafias planning to rig the currency" is not used as an excuse anymore. More than that, they have to protect these notes, the 250, 500, and 1000 before they have value. The old notes are easy to counterfeit. -The bank last week also changed the rules dealing with currency. Transfer Companies are for the first time allowed to set up accounts directly with the CBI, bypassing the middleman. This is intended to assist in rate control removing what had been at least a two tier system and sometimes a three tier system, to now being a one tier system. We know that the CBI also changed the rules for independent banks wishing to sell USD to the public. They now require any independent bank wishing to sell USD (their largest profit center) to deposit all dinars they are in possession of into an account at the CBI and draw out the USD against that balance. This means that all these banks had to give every dinar they had to the CBI and continue to do this as they collect dinars from sales of USD. A very good move if you intend to substantially raise the value of the dinar. IMO all electronic accounts will be reduced three zeroes as the currency increases. The CBI just took away the possibility of these banks benefiting a windfall from the rise in value of the dinar. The CBI has set up and electronic accounts for these dinars. It is also my opinion that the only beneficiaries of this change will be anyone who holds the currency including Iraqi's themselves. Everything in Iraq will have to be reduced by three zeroes. Salaries, hard good, rents, contracts, budgets, living expenses such as gas and electricity, food, debt of any kind, real assets value, stocks and yes both private and business banking accounts. IMO you can't pick and choose. For this to be successful, as the currency goes up, everything will go down. There are no articles to support this one way or another but it is my belief that a person who has 50000 in the bank account will wake up the day after to 50 dinars. It will have the same value as before but 3 zeroes will have been removed. The person who has 50000 under his mattress will hit a windfall bigtime. He will be able to walk into the bank and swap for 50000 new notes orr set up an account. Argumentatively I know it is hard understand this concept, but I feel good that this is the way will happen. -Next week should be a good week. If as expected Maliki is out, we should see movement fast. The new power is already beginning debates on the position of PM starting this Sunday. I think it will quickly be agreed upon. Most of the hard issues as to what positions go to which blocks should be settled and voted on the week they convene, June 15th as their first order of business. Enjoy the articles, PS we ARE close. ~ Tlar

I'm with you Rayzur and also feel this is exciting news. Not sure exactly what it means but sure seems like something to take notice of. I actually posted a chat log last week regarding Western Union and new SWIFT codes but it didn't get much attention but I believe it was in preparation for what we are now seeing. Here's the thread.... http://dinarvets.com/forums/index.php?/topic/175958-swift-codes/

I have seen several posts from different "gurus" on other sites regarding the swift codes and have to the more trusted DV site to see if anything is being mentioned here and haven't seen anything on it. I may have missed it...sorry if I did. Admittedly, I don't fully understand the swift codes and how they apply to the RV but thought I would bring over a few rumors and see if there are any thoughts. From 4-9-14.... [millionday] today the information was brought in by GRRR about the swift codes -- all of those that dont remember or were not invested at that time know that it has been a while since the announcement of the swift code placement going on were very exciting ans we will discuss why [millionday] the thing is this for those of you that have not been following this from before [millionday] each bank that does international banking or in a summary and kind of shortened way -- can do any kind of electronic banking are given these identification numbers [millionday] when the report came out concerning the beginning of the swift codes -- we danced in the streets ~~~ [millionday] so lets look at what we have now [millionday] also they have meaning in those codes -- each digit represents one meaning or the other --we have an explanation we will look at but know this - when we looked at them before -- representative of a portion of the code was "xxx" - not anymore - brb with some of this info [imperator] The SWIFT network is a messaging infrastructure, not a payments system, which provides users with a private international communications link among themselves. The actual funds movements (payments) are completed through correspondent bank relationships, Fedwire, or CHIPS. Movement of payments denominated in different currencies occurs through correspondent bank relationships or over funds transfer systems in the relevant country. In addition to customer and bank funds transfers, SWIFT is used to transmit foreign exchange confirmations, debit and credit entry confirmations, statements, collections, and documentary credits. [millionday] we are not going to fly through this so those of us that are not familiar with banking the point is made to us all - international banking can be tricky so this will help [millionday] SWIFT code is a standard format of Bank Identifier Codes (BIC) and it is unique identification code for a particular bank. These codes are used when transferring money between banks, particularly for international wire transfers. Banks also used the codes for exchanging other messages between them. The SWIFT code consists of 8 or 11 characters. When 8-digits code is given, it refers to the primary office. [millionday] note -- this is simply stating that each digit means something [millionday] the reason that we as a researching group are excited is that these codes are complete for Iraq - here comes more - this is the explanation of the code [millionday] First 4 characters - bank code (only letters) Next 2 characters - ISO 3166-1 alpha-2 country code (only letters) Next 2 characters - location code (letters and digits) (passive participant will have "1" in the second character) Last 3 characters - branch code, optional ('XXX' for primary office) (letters and digits) [millionday] now when the beginning happened and they only had he three XXX [millionday] so lets look at this [millionday] Currently, there are over 7,500 “live” SWIFT codes. The "live" codes are for the partners who are actively connected to the SWIFT network. On top of that, there are more than 10,000 additional codes, which are used for manual transactions. These additional codes are for the passive participants. The registrations of SWIFT Codes are handled by Society for Worldwide Interbank Financial Telecommunication (“SWIFT”) and their headquarters is located in La Hulpe, Belgium. SWIFT is the registered trademarks of S.W.I.F.T. SCRL with a registered address at Avenue Adèle 1, B-1310 La Hulpe, Belgium. [millionday] welcome to all that have just come in [millionday] The registrations of SWIFT Codes are handled by Society for Worldwide Interbank Financial Telecommunication (“SWIFT”) [millionday] now that the info is over and the exciting part is coming up -- get ready [millionday] here is the example of the first list on the formal [millionday] 1 ABU DHABI ISLAMIC BANK BAGHDAD ABDIIQBA 2 AL BARAKA TURK KATILIM BANKASI A.S. ERBIL BRANCH ARBIL BTFHIQBA 3 AL RAFIDAIN BANK BAGHDAD RAFBIQBA 4 AL-BILAD ISLAMIC BANK FOR INVESTMENT AND FINANCE BAGHDAD AIIFIQBA 5 AL-HUDA BANK BAGHDAD BHDAIQBA 6 AL-IRAQIA FOR MONEY TRANSFER CO. BAGHDAD IRAQIQBA 7 [millionday] the name of the bank and the code - there ar 57 that are able to have a code due to standards but - do you see this code for iraqi bank codes ? smile -- here is what it is [millionday] Send money within the US with Western Union Family and friends are especially important during this time of year. Wherever you need to send money in the world, from the convenience of your couch or on the go, you can count on Western Union with special pricing starting at $1 fee. Price your transaction here. Make pickup convenient for friends and family. Send to one of our more than 45,000 agent locations in the US or directly to your receiver’s bank account. We offer pickup in minutes across the US.** You’re busy, so try our free mobile app to transfer money quickly while on the go. Read more at http://www.westernunion. ··· cgoFK.99 [millionday] whoooopow - now it has been a while since the beginning of this project and now they have an Iraqi swift code implying business and that is huge huge woooopow [millionday] i have to say the investment bank is also outside of Iraq by base ] this is absolutely huge news [millionday] The United States hosted a top level Iraqi interagency delegation to participate in the March 3-7 Iraq Business Week activities in Washington D.C. Iraqi Deputy Prime Minister Rowsch Shaways led a 30+ member public and private sector delegation to network with scores of major U.S. firms and explore expanding business opportunities in Iraq, now the United States' 27th largest goods trading partner. The delegation – which included Iraq’s Minister of Trade and the Chairman of Iraq’s National Investment Commission – addressed trade and investment challenges in Iraq, and discussed external financing options and their potential to assist in Iraq’s development. The trip culminated with a Ministry of Trade delegation visit to Houston, TX to explore establishing a trade facilitation office, and travel by the Deputy Prime Minister to New York City where he met with a number of additional U.S. firms. [millionday] development bank swift cones to this >>>> http://totalannuityrates ··· 04&gid=1 [millionday] so this is great great news fo this to be done and prepared This one is from today.... Newshound Guru Millionday all swift codes are established for international banking...it appears that western union is set up -- the lower denoms and coins are distributed into the banks...they have passed many many foreign investment laws and they are in washington about the economic policies having some very important meetings -- hmmm -- dont hold your breath because it is unhealthy but oh boy cross everything!! And on 4-10-14.... Sager: Swift Codes For Iraq. I believe this is new, but would need confirmation: http://www.theswiftcodes.com/iraq/ Zeke : Greetings .......... whats shaken !!!! No "Passive" code on any bank in Iraq. A passive code indicates manual transaction. Do not know if that is good or bad. Maybe Nova could help out on this. SWIFT Code or BIC code are part of ISO 9362 standards. It is a standard format of Business Identifier Codes (“BIC”). BIC sometimes also refers to “Bank Identifier Code”SWIFT Code or BIC Code is a unique code to identify financial and non-financial institutions. These codes are mostly used when transferring money between banks, especially for international wire transfers or telegraphic transfer (“TT”). The codes are also used in exchanging messages between banks. .... The code consists of 8 or 11 characters. If only eight characters code is given, it is assumed that it refers to the primary office. The characters are made up of, •First 4 letters :- bank or institution code •Next 2 letters :- ISO 3166-1 alpha-2 country code •Next 2 letters or digits :- location code ◦if the second character is “0″, then it is typically a test code instead of the code used on the live network. ◦if the second character is “1″, then it indicates a passive participant in the SWIFT network. The code used for manual transaction. ◦if the second character is “2″, then it indicates a reverse billing code. It means that, the recipient pays for the message instead of usual mode whereby the sender pays for the message. •3 letters or digits :- branch code, optional (‘XXX’ for primary office) http://swiftcodes.net/ ************ Sager » April 10th, 2014, IMO, I take this as EXCELLENT news (not being passive is very telling imo ************* Zeke: Sager .......... I totally agree !!!! If no manual transaction(s), on any bank, would that not indicate "Electronic" Transaction(s) ??? If that be the case .......... wouldn't it stand to reason that an "International Status" is viable NOW ???? ************ NOVA » April 10th, 2014, It's Both Good & Bad..The Swift Codes Have Been In Place For A Few Years. But You Have Been Unable To Use The Codes With The IQD It Does Look Like They Have Been Updated A Little, So This Might Speak To The IQD Going International Quite Soon. BAD Because We All Want To Know The Date!!!!!! Nova ************************ Stage3Alpha:

Thanks SnowGlobe and LGD for your insight. While I'm still not convinced this is a good thing, you guys got me thinking and gave me a little hope

I hate to say it but I tend to agree with this thinking. It just wouldn't seem to make sense to continue printing the large notes if they have any intention of RV in the near future. Even after a modest RV these large notes would not be something they would want in circulation and I also agree with Dogsutra, any large government transactions would typically be done electronically. Really hoping someone smarter than me can help me see it differently.

I know....it's SteveI but just thought I'd see if anyone here that has a better understanding of ISX thinks there is anything to this. Post From don't promote other sites By Stevel Greeting PD Members, This post is going to be very factual regarding this investment we all have invested in. In February I was sent some financial information regarding the ISX. I want you to follow the money now. Just yesterday I got this information. The key is to read it very closely and word for word and understand the actual importance of this huge message. ::::::: ... A cross transaction occurred on IQD3.03bn Union Bank of Iraq (BUOI) shares on Feb. 27, 2014. This represents 1.2% of BUOI capital. (This last phrase relating the percentage of capital has never been in their reporting!!!) WOW! No wonder the ISX has shut down the sales of its stock! Look at these numbers, am I reading this right!?!?! If I am, we are set for some absolutely EXPLOSIVE GROWTH!! We got into the ISX just in time!! IQD 3.03bn= 300million USD this = 1.2% of BUOI capital. The true capital is just shy of 30 billion USD 152 billion in Outstanding share price just on the those merits alone makes each share worth $.50 USD per share! I think I found the missing # for the equation, it was 1.2% of 3.03Bn IQD! The ISX has shut down orders because all the cross trading has driven the, “Reality rate” way up. It’s hard to sell a stock for .015 cents when it’s worth $.50 per share!! Oh, BTW, $.50 times 200k shares is 100K USD! BEFORE THE RV!!!!! Here is one of many supporting articles to support this. Proposal to merge small banks and the formation of a development bank shareholder 03/04/2014 BAGHDAD / JD / .. suggested the parliamentary finance committee, small local banks merge with each other to form a development bank shareholder is able to finance large investment projects in the country. A member of the committee MP Hassan al-Bayati told / JD /: that a central bank by requiring local banks to raise their capital to the roof (250) billion dinars longer true and positive for the banking system in Iraq. He added that the central bank's demands not to impose sanctions on banks that can not raise its capital to 250 billion dinars, but should encourage those banks to merge with each other to form an Iraqi bank shareholder development helps to finance major investment projects in the country. The Iraqi Central Bank announced its intention to withdraw the licenses of five community banks for their inability to raise capital. Has complained about the number of private banks from the central bank measures towards the work of banks, which it described Palmakdh. He had demanded that the Association of private banks the central bank's decision to withdraw licenses to wait a number of local banks as a result of its inability to increase its capital. LINK This information is coming from some very qualified people that know the stock market inside and out. On February 27th, just a few short days ago I got this from one our team members. Lots of afterhour trading!!! Al-Iraq Brokerage Firms (buy) & (sell) executed International Cross to Union Bank Of Iraq on Thursday Feb 27 2014, in traded shares (3,031,372,000) billion shares in additional session time after 12 o'clock. Umal Rabieain Brokerage Firms (buy) & (sell) executed International Cross to Mousil Bank For Development on Thursday Feb 27 2014, in traded shares (737,000,000) million shares in additional session time after 12 o'clock. Subject: The ISX Compared to Neighboring Stock Markets Look at the neighboring indexes!!!! Below closing levels of stock market indices in the Middle East: Dubai's index rose 1.3 percent to 4099 points. As Abu Dhabi's index rose 0.5 percent to 4892 points. Qatar's index rose 0.6 percent to 11516 points. As Saudi Arabia's index climbed 0.2 percent to 8930 points. Oman's index rose 0.2 percent to 7173 points. Bahrain's index also increased 0.2 percent to 1318 points. only Kuwait's index fell 0.2 percent to 7843 points. in Egypt index rose 0.3 percent to 7591 points. Do you think ISX will stay at 112.50 points???????? This dam is about to burst!!!!! I do not know about you, but I am confidence just from the facts that we are so very close to having this investment payoff sooner rather than later. According to Ray's sources, we should see the budget getting voted on this week. Many of you keep saying, especially the negative people and ones that have no clue that the budget has nothing to do with a change in the Iraqi currency. Fine, you go believe what you want. I base my beliefs on facts only. It is what it is and the facts point to a change very soon. I also forgot to mention this: As you know, I check the CBI, DT, ISX, etc. almost every day for trends and have others that watch as well. I am encouraged to see that DT has increased their prices again. I am referring specifically to the price they will buy dinar back from you. Today the price for uncirculated currency went up to $830 and the price for circulated went up to $790! The sale price of $980 has not moved so this means the spread is getting tighter. Always a good sign!!! All I can advise you is keep your information current with us if you want to participate in a gathering after this blessing has finally materialized. I am more than ready and so are you. See you very soon. Start planning. Have a safe week and keep your hopes up high. Do not buy into the predictors that said it was done yesterday. Blessings, Steve

DiveDeepSix, granted I am a relatively new member here to this site so I don't know about your friends, however I have a hard time believing that most *** people would not find some of the things you stated as hurtful..... "The Skittles come in to an area and force everyone else to put up with their BS way of life even if it means destroying the values this country was founded on. They destroy and mock marriage and family values, and push their sick way of life on little kids (that is a pedophile, Tiff can stick it). Don't I have the right to not let my kid sleep with a homo at a Boy Scout camp? Why would these kids even know what it meant? That's the sick part." I appreciate you seeing my point that unfortunately many business owners would take advantage of a bill like this and claim "religious freedom" and I understand your thoughts that any business owner with a brain would want to make money, but unfortunately not all business owners can put their views aside and think with their brains. As far as the Russian controversy at the Olympics, I don't believe that every or far that matter even a majority of *** people are trying to convert minors so they can act on their pedophile desires.

I guess the other side of that question Tbomb is, are they asking for our (the U.S. Treasury) input on their budget or are we taking it upon ourselves to advise. Buti, curious on your input.

Well I have to say....I don't doubt your "OUTRAGE". Unfortunately when someone spews so much discrimination and hate it just proves why the Governor was right to veto this bill. I think the main problem is that people would have taken advantage of this bill and discriminated against not just the LGBT community but many lifestyle choices they don't agree with. All in the name of their "religious liberties" being compromised. This is just a very slippery slope for our country to slide down and would set us back in the progress that's been made regarding discrimination. I don't believe that a photographer or florist for example should be forced to participate in a *** wedding if it goes against their religious beliefs however this bill would have opened to door for so much more than these scenarios. I agree that something needs to be put in place to protect business owners from discrimination suits in situations like this but like the governor stated this bill was way too broad. And I have to say....."Pedophiles"....really? That is an ignorant and hurtful comment to make.

Tbomb I understand your frustration that these types of posts don't get as much attention as they should. I agree that any other posts from the media are controlled and probably distorted much like our media here in the U.S. and that this is where we should focus our efforts. In regards to the U.S. Treasury meeting....is it normal for our treasury department to have any input on their draft budget as it states? I don't remember hearing in the past that The U.S. was involved in Iraq's budget talks.

Bump Translation anyone? Please

I have only been following the dinar about a year and a half, when my hubby bought some dinar and told me after the fact. I will admit I started out extremely skeptical and then that turned to very hopeful when I started exploring different dinar sites and didn't know better about the gurus. I went from skeptical to thinking I was going to wake up to an rv every morning. Of course it didn't take long for reality to sink in about these gurus. Since I have become a member on this site, I now have a more realistic view of the chances of an rv. I have to admit though that this article along with the article discussing a decision by the CoM that contracts must be paid in dinar has gotten me feeling pretty excited and hopeful right now. Admittedly not as excited as I was the first time Okie posted he was landing but since I am wiser now this is the closest I have felt to that Here's to hope!

Thanks for your research on this Tbomb. It definitely sounds promising.

Thanks for working on it....you are such a sleuth. I really value the opinions and research of all the members on this site and you can always on TBomb to do some digging

Interesting Read with links....any thoughts? Post From Bondlady's Corner Post By Tlm724 [tlm724] Good morning everyone, first let me tell you that BondLady extends her apologies for not being here, she is slammed at work [tlm724] okay here we go, this is important and I will be as brief as possible [tlm724] Iraq Is Positioning itself for a big move !!!!!!!!!! [tlm724] Let's begin by going back in time for a moment. Please have a quick look at this article posted by BondLady on June 5, 2012 [tlm724] 2012 ! Iraq is expected to become full member of WTO within two years June 5, 2012 Most likely a member of the Economic Committee in Parliament MP Amer Jassim winner, Iraq’s accession to the WTO during the next two years, confirming the presence of several obstacles have made Iraq away from the world trade market. ... Read More Link On Right The winner (of the Agency news): The Iraq’s accession to the WTO needs to stabilize the economic and political in the country, noting there are constraints have made Iraq away from her Ktzbzb the local currency against hard currencies as well as the lack of resolution of the project to delete the three zeroes from the currency. He added: that non-rising standard of living of the Iraqi people as it takes to cancel the ration card was also blocked the entry of Iraq into the WTO, global trade because the market does not recognize the government support being linked to other countries and the ration based on government financial support. He continued that the bilateral differences between the Governments of Arbil and Baghdad, with respect to oil and gas also deprived Iraq of accession, in addition to the unstable political situation in the country, all of which made Iraq away from world trade, saying it needs to be enough time maybe two years in order to Iraq will be eligible to join the the world Organization. http://almadapaper.net/news.php?action=view&id=67072 [tlm724]"noting there are constraints have made Iraq away from her Ktzbzb the local currency against hard currencies as well as the lack of resolution of the project to delete the three zeroes from the currency. [tlm724] They didn't go forward with the currency reform and that is what has impeded them from becoming a full member state of the WTO . [tlm724] We have seen the CBI change things as far as the auctions , all dinar must deposited into the CBI . [tlm724] Much to the dismay of the traders, banks etc.. This brings in the currency and does not allow for any further circulation via the other banks or traders [tlm724] Now let me show you all an announcement on the Iraqi Cabinet website (The Council of Ministers) Feb 23. 2014 : [tlm724] yesterday Wink General Secretariat of the Council of Ministers calls on state institutions to implement financial Altzmadtha local currency 02/23/2014 14:34 Called on the General Secretariat of the Council of Ministers and the Supreme Judicial Council, the ministries and departments not associated with the Ministry and the provincial councils and all not to enter any financial obligations in foreign currency amounts paid within Iraq and that commitment is performed exclusively in Iraqi dinars. She said the legal department at the General Secretariat of the Council of Ministers of the Office of Information and Communication said the government also included a call in the event of GATT install the necessary costs in foreign currency should be mentioned Mikablha local currency (Iraqi dinar) according to the prevailing exchange rates. The call came at the Notes CBI / Directorate General for private investments in this regard the fact that the national currency is the original in economic dealings in Iraq, similar to the countries of the world, as well as to deal in foreign currency, calls for the provision of foreign currency contracts signed in Iraq. http://cabinet.iq/ArticleShow.aspx?ID=4378 [tlm724] We see the Council of Ministers stopped the use of the US dollar in all contracts within Iraq, these contracts (financial obligations) must be in IQD ! [tlm724] are you all with me so far ? [rsp1] yes [lightingcslt] tlm724 yes [shredd] yes [tlm724] No more foreign currency , commitment is performed exclusively in Iraqi dinars. Think of oil and infrastructure contracts and the trading and selling of oil which is currently done in USD !! Now I am not 100% positive about the petro dollars etc.. but [lightingcslt] tlm724 *hallelujah* [tlm724] It gets even better [tlm724] Within this short but oh so sweet announcement they are getting ready to ascend into the WTO ! Have a look at this " the government also included a call in the event of GATT install the necessary costs in foreign currency should be mentioned Mikablha local currency (Iraqi dinar) according to the prevailing exchange rates." [tlm724] GATT is this : GATT and the Goods Council The General Agreement on Tariffs and Trade (GATT) covers international trade in goods. The workings of the GATT agreement are the responsibility of the Council for Trade in Goods (Goods Council) which is made up of representatives from all WTO member countries. The current chairperson is Amb. Dacio CASTILLO (Honduras). The Goods Council has 10 committees dealing with specific subjects (such as agriculture, market access, subsidies, anti-dumping measures and so on). Again, these committees consist of all member countries. Also reporting to the Goods Council are a working party on state trading enterprises, and the Information Technology Agreement (ITA) Committee http://www.wto.org/english/tratop_e/gatt_e/gatt_e.htm [tlm724] Within the WTO requirements it states this " HANDBOOK ON ACCESSION TO THE WTO: CHAPTER 5 Substance of Accession Negotiations "Working Parties have been careful to respect the competence of the IMF" [tlm724] and " They have, for instance, focussed on knowing whether applicants are members of the IMF and whether they have accepted Article VIII of its Articles of Agreement which provides that “no member shall, without the approval of the Fund, impose restrictions on the making of payments and transfers for current international transactions”. They have been particularly concerned that foreign exchange controls may be used to regulate the level and composition of trade in goods and services." http://www.wto.org/english/thewto_e/acc_e/cbt_course_e/c4s2p1_e.htm [tlm724] See not only are they positioning themselves for the final push into the WTO they are also preparing to accept the requirements for Article VIII of the IMF ! [tlm724] As you are aware Article VIII has the following requirements : Article VIII: General Obligations of Members Section 3. Avoidance of discriminatory currency practices No member shall engage in, or permit any of its fiscal agencies referred to in Article V, Section 1 to engage in, any discriminatory currency arrangements or multiple currency practices, whether within or outside margins under Article IV or prescribed by or under Schedule C, except as authorized under this Agreement or approved by the Fund. If such arrangements and practices are engaged in at the date when this Agreement enters into force, the member concerned shall consult with the Fund as to their progressive removal unless they are maintained or imposed under Article XIV, Section 2, in which case the provisions of Section 3 of that Article shall apply http://www.imf.org/external/pubs/ft/aa/index.htm#art8 [tlm724] As I said in the beginning Iraq Is Positioning itself for a big move !!!!!!!!!!!! [tlm724] they cannot go forward without the currency reform and as you may have noticed we are right up on that 2 year time frame mentioned above !! Thank you ... [lightingcslt] tlm724 positioning? tlm724 hell timmy they are there tlm724 great job [tlm724] lightingcslt not quite but as close as they can get [tlm724] *hallelujah* it really is happening ! [lightingcslt] *hallelujah* [rsp1] *mission* *hallelujah* Thank you, timmy