Synopsis

The article states, "Some Iraqis argue that there may be a need to use international mechanisms in order to ensure that those responsible for human rights abuses in Iraq are brought to account. One of the suggestions that have been made is that Iraq should consider acceding to the Rome Statute that set up the International Criminal Court and accept the tribunal’s jurisdiction with respect to violations in the country." More good news here. We may see news in the not to distant future for the Iraqi Cabinet and Parliamentary calling for Iraq to be included in the ICC. I suspect Maliki and other major corrupt figures would then be taken into custody and prosecuted by the ICC fairly quickly. I suspect the ICC has been preparing indictments and cases in the event Iraq votes to be included in the ICC member States.

I agree MyLilPony. The article states, "Arab Foreign Ministers Council renewed his condemnation of the incursion by Turkish troops in Iraqi territory and called on the Turkish government to withdraw its troops "immediately and unconditionally" as an attack on Iraqi sovereignty and a threat to Arab national security." I think this is really good news. The removal of all foreign (non coalition) troops to include Turkish, Iranian Qud/militias (including Solemeni), and ISIS is a key to demonstrating Iraq is a sovereign nation. I am looking for calls to remove the Iranian military elements from Iraq as ISIS is being cleaned up/expelled from Iraq. In my opinion, removal of the foreign (non coalition) troops from Iraq is an element that needs to be satisfied as a contributor to the economic development of Iraq (foreign investors will sense stability and want to invest in Iraq) and the IQD revaluation. I suspect the draw down of coalition forces will also deplete rapidly after ISIS is removed and the non coalition troops expelled from Iraq. My opinion is some coalition forces will remain in Iraq for the near term since the fledgling Iraqi police, security, and military forces will need assistance to maintain stability. Thinking out loud, a possible twist is Maliki has been taking heat in the Iraqi news media for his corruption and may soon be tied somehow to the Iranian Quds/militias (with Solemeni) as the ISIS campaign winds down. I suspect (if it happens) the Arab world and the rest of the world may then put strong pressure on Iran to get their elements out of Iraq. Just my two cents but I suspect threats will be used and Iran will quietly complete the removal of the Quds/militias/Solemini from Iraq and fairly quickly.

I agree, Wiljor. The fact that the major Sunni government in the region is calling Maliki out may encourage other countries in the area and peoples in general in Iraq to accelerate the investigation into Maliki's documentable corruption, indictment, prosecution, and follow through on Maliki's sentence. As of late, there appears to be a greater frequency of ill related news about Maliki's acivities by various individuals in the Iraqi news outlets.

I really agree with you Wiljor! I suspect there will be disinformation posted in the official Iraqi news outlets to throw attention off of actual events and intentions near a major Iraqi event - like, possibly, the currency revaluation!

Here is the link to the MasterCard foreign currency exchange rates for the last available date of Wednesday, August 7th (type in USD for the base currency): https://www.mastercard.com/global/currencyconversion/ There are 49 currencies listed. Interestingly, the IQD and KWD are not listed whereas the VND (22,299.00 VND = 1 USD) is listed. Not sure what is up with that. May have to wait until tomorrow to see if the IQD is added. Until then, I suspect this information is male bovine excrement and may remain as such. Reader Beware!

GM Yota and many Thank Yous for the great articles you post!

Pretty sure post event most folks here will set their own holiday schedules - I likely will!

This could be really good news. Here are a couple related links to news articles Yota posted (one on the parliament passing the law and one on the cabinet passing the measure): http://dinarvets.com/forums/index.php?/topic/222398-the-start-of-the-parliamentary-session-in-the-presence-of-180-deputies-to-vote-on-three-bills/&do=findComment&comment=1657337 http://dinarvets.com/forums/index.php?/topic/222398-the-start-of-the-parliamentary-session-in-the-presence-of-180-deputies-to-vote-on-three-bills/&do=findComment&comment=1657348 I may be wrong but this is kinda like the States and Federal Governments in the US. If I understand correctly, not only will Kurdistan benefit from this measure but it will apply to all the Iraqi provinces. There seems to be recent news articles indicating a "decentralization" of the Iraqi Federal Government in favor of somewhat autonomous provinces. This seems to keep the local government closer to home and "more power to the people." More good news on follow through in Iraq on what they say they will do.

Glad to offer my opinion. Hopefully we won't be reading and interpreting these Iraqlish articles much longer!!

Could be, EagleEye! The opening statement of the article, "Thamer Alheims there is no reasonable answer specific and justifiable to not to return for opening letters of credit for the purposes of import , this dollar bleeding of our credit must be curbed to stop losses at all levels. Solution fugitive and its repercussions dollar problem on the Iraqi economy requires a return to work to open documentary credit, because of its role in supporting agricultural and industrial sectors , as he excludes practically at their sessions in internal for the time being." The "for the purposes of import" caught my eye. Other recent articles seem to indicate a push for opening and modernizing ports (and border crossings) of entry (both land and sea?) with equipment to transmit data pretty much instantaneously. Since "agricultural and industrial sectors" are mentioned and not oil and gas, I suspect oil and gas has established trade means with the appropriate "letters of credit" and do not need modernizing, updating or modification. The "letters of credit" for "agricultural and industrial sectors" appears to be fairly broad and, in my opinion, is indicative of setting the stage for reconstruction and then international market trading. The "letters of credit" are likely needed for international trade to establish credibility for the means to pay for goods and services received and demonstrate a credible (corruption free?) entity to receive payment for goods or services provided. With all the port modernization and communication systems installed, the "letter of credit" information should be available for necessary documentation and authorization for the goods to be imported/exported. I thought the news of the border crossings being reopened was good news in this respect. In my opinion, Iraq was in the prehistoric/stone age up until just recently and are nearing the point of being fully integrated internationally in their ultra modern communication and banking systems. The past archaic systems promoted the wide spread corruption and pilfering. With all the new systems being put in place, the corruption and pilfering should go to nil at the ports and border crossings (and CBI, too). Likely, there will always be a black market transmission of goods and payments like anywhere else. To be "fully integrated internationally", I suspect they will need a revalued currency so, in that respect, they do have a desire to dedollarize!

I agree, 10 Years Later. I once heard that it is impossible to soar with the eagles when one works in and amongst a bunch of turkeys!

Yes, that could be. In my opinion, if the IQD then began being used on the streets by merchants/citizens and changed hands a few times for legal goods and services then the Iraqi merchant or citizen would not have known that at some point the IQD in their hand was used for illicit transactions. I can't imagine the CBI, or any other entity, could track the IQD cash transactions on the streets (or how many times a note was used in transactions) if the serial numbers were not recorded or passed through some sort of electronic tracking device (like at the banks or CBI). I'm not sure those monies (even though legal tender and not counterfeit or precurrent issue tender) will be rendered null and void at the time the law abiding Iraqi citizen or merchant relinquishes the IQD for deposit or exchange. In my opinion, there would be a significant outcry by the Iraqis if they presented currency they acquired legally and it was rendered null and void. In this respect and my opinion, the diffused monies are not likely recoverable even though known to have been originally pilfered via the serial number. These originally pilfered monies could be recovered if the individual currently holding the note was known to have been involved in corruption of some sort and the monies in their possession was confiscated.

I agree, ChinaDawg. I suspect some of the issues are taking more of a leisurely pace and are repeated in the news outlets so as to not stir the pot and loose ground on what has already been agreed and gained. In my opinion, there may be a few noteworthy events that will transpire in the next couple weeks but likely nothing significantly contrary to the progress already made in the reforms and stabilizing Iraq up to now. Just up to the 20th, there may be folks (like Maliki) seeing the hand writing on the wall and knowing what it will mean for them who will start to squawk about meaningless things to try to throw attention off themselves.

I suspect a significant portion of the pilfered monies (worth nominally 1 trillion USD) was diffused through the purchase of illicit products and services instead of landing in bank accounts somewhere where the monies are recoverable. The diffused monies have likely changed hands a few times purchasing other things, even legal goods, or may ended up under some Iraqi citizen's mattress (acquired legally) so the diffused monies are not really traceable or recoverable. However, I also suspect there is a significant amount of these pilfered monies in bank accounts of those who pilfered, their extended family members, associates, shell companies, etc.. If these monies could be recovered and returned, this would be a significant boost to Iraq's foreign money reserves. Hopefully, the daily currency auctions will have been stopped by the time the monies are being returned.

Well said FlyHi and Presence!

Glad to offer my opinion. Hopefully, it is helpful. I can't make any guarantees and I may be biased. When I first invested (and since then, too), I did some research and decided this investment had features that supported a likely positive outcome. There are a variety of individuals who likely have varying opinions that are equally viable regarding the outcome and magnitude of this investment. When I made the decision to invest, it was a one way choice where I would only exchange my IQD when there was a significant change in value. What will that change and value be and when? I do not know. In the mean time, I do what I can to temper my anticipation so as not to be let down or overly anxious to take quick and unwarranted action once the event(s) occur. To me, the conclusion is every person needs to look at the available information and make choices based on their comfortably available means. If their is any personal doubt, the person should make the appropriate choice realizing each person has their own independent perspective, means, and objectives for this investment while discarding the hype or pumper talk to avoid any personal investment crisis. in my opinion, there are charlatans and malicious persons/affiliations who focus on pre and post event tactics to take advantage of people. As a precaution, I suggest being careful who you share your investment activities with to avoid any undesirable consequences. I have learned a few things along the way by the posted articles and many others who have contributed valuable information and perspectives. Hopefully your experience here is rewarding for you, too.

Thank You for the correction Botswana!

The article could be right as stated. I just have a feeling/mistrust that other factors could be in play to throw off investors who have plans for making exorbitantly quick gains. I just got back from the store with a pallet load of Depends. Well, just kidding. You may want to hurry and get yours now 'cause they may be out when you need 'em. Just kidding. In my opinion, the talk of the HCL, eradication of ISIS (end of year), voting on the remaining reforms (starting September 20), near completion of the implementation of the state of the art national and international banking systems, talk of prosecuting the corrupt who pilfered the government, talk of return of stolen funds to Iraq, talk of ascension to the WTO, etc. are really good indicators of good things to come in the near future (especially with the actions they are taking to back up their words!). In my opinion, I can't imagine the IQD revaluation not occurring if the things I mentioned here were completed. I suspect Iraq will want to strongly encourage the foreign investors (people like us) revalued IQD to be reinvested in Iraq to jump start their reconstruction and full integration as an international market supplier. The international entities such as the IMF, World Bank, PTBs, etc all appear to be "encouraging" Iraq to do what Iraq needs to do - now. I suspect the news regarding the progress of the reforms being completed once parliament reconvenes on September 20 will be telling of how close we really are for the event we have been waiting for to occur. I was thrown off late last year and early this year. I had anticipated late last year and early this year for being our time frame. With the parliament and cabinet upheaval, the reform progress was suspended but is now gaining momentum. Recently, Abadi was announced as having implemented 72% of the items he promised at the onset of his ascending to office to deliver during his term. I suspect the remaining 28% of the remaining items have had the lion's share of the work completed with the finishing touches needing to be made as they make their way through parliament and are implemented. How close are we? Hard to say but the news is indicating some really good things and will get really good if they are actually completed in the near future. Sadr ratcheting up the protesters and Maliki publicly squealing is another good sign! Just my

I suspect Iran is wanting to get more money from international customers due the oil they produce and sell internationally. Likely, OPEC members cutting back production somewhat will cause the market to react fairly quickly with increased crude oil prices per barrel. The increase in crude oil price per barrel will likely increase oil revenues somewhat at the reduced production rate. In essence, based on agreements with other OPEC entities, less crude oil production for sale on the international market is more money in the crude oil producer's pockets.

The article states, "He predicted Dboa, "the Iraqi economy shift to a more market-oriented economy, being the focus of his business to deal with the international community, including the United States and other trading partners, where keen on belonging to the international community through its cooperation with international organizations including the IMF international and the World Bank, the United Nations and the Arab League, "stressing that" Iraq is a candidate for accession to the World trade Organization. "" In my opinion, the revalue of the IQD is linked to the broader based development of Iraqi economic sectors beyond oil and gas. To me, it would be really good news if Iraq is advertising the need or desire for becoming an international supplier of previously untapped Iraqi natural resources. I suspect the IQD revalue would be based (at least) somewhat on the reinvestment by foreign investors (like us?) of the revalued IQD into Iraq. Possibly, this is why the intense pressure by external organizations to get the reforms hammered out, voted on, and implemented to give the foreign investor a framework for realistic and tangible returns for money invested into Iraq. The article indicating that Iraq could ascend to the World Trade Organization (now?) is really, really good news!

I agree, ChinaDawg - This has got to be good for us - real good!

In my opinion, there will be misinformation in the Iraqi news media just prior to major events, like an Iraqi Dinar revaluation. This article could be intended to give the impression the issue of the 100,000 IQD note, like the 50,000 IQD note, is on the horizon and will be bad for near term IQD value vs. the USD. These statements could be truthfully made if there were no other IQD monetary policies being implemented. If I remember right, when the KWD was reinstated, there was some bad news and then .........BOOM........ right on the heels of the news the KWD was returned to the pre Saddam invasion value. In my opinion, the news as stated may be intended to throw people off, convert their IQD to another currency, create anxiety just prior to the euphoria, etc. Whatever reason(s), this kind of news is encouraging indicating we may be closer to the event we have been waiting for.

I am thinking Sadr could be amplifying or accelerating the Iraqi populace's disillusionment with the Iraqi government using the hunger strike as a tool with the people against the government to accelerate the Iraqi government's voting on the remaining laws and completing the cabinet reforms. Possibly, the next tool Sadr hauls out to further solidify the Iraqi populace's disillusionment with the Iraqi government could further ratchet up the pressure on the Iraqi government due to the Iraqi people's behavior. In my opinion, Sadr implementing such measures furthers the necessary progress to get the needed items completed and will likely foster the chain of events we need for our much anticipated event. "When people fear the government, there is tyranny, when the government fears the people, there is liberty." Thomas Jefferson

Seems like Sadr is saying, "We are still here and watching you. Are mission we have given to you has not changed. Our attitude toward you will change if realistic and acceptable progress is not made on our/your mission." We will likely see some news on the protest since the demonstration was scheduled for 5 pm today that is 9 am CDT.