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It’s a parliamentary system, Floridian, very similar to what they have in the UK and Canada and various other Western democracies, and Kap is right about how it works. That said, recent polls have Abadi’s coalition gaining 78 seats to Maliki’s State Law coalition’s 19. Maliki doesn’t have nearly as many friends in the other blocs, either, so Abadi is very likely going to remain as PM.

It started about three weeks ago.

I’ve seen “JD” or “JD Dinar” used in place of “Iraqi Dinar” several times over the years. I think it’s just a translator glitch. Given the exchange rate of the Jordanian Dinar, it definitely doesn’t make sense that “JD” refers to the Jordanian currency in this context.

Delta is wrong (Or more likely, lying). I could go back and verify the street rate from January, but I don’t have to because I watch it every day. It was in the 1250 ballpark back then and has only been IMF compliant for about 2-3 weeks. That puts 90 days around mid June. The IMF may grant Iraq a hardship exception considering they were ready four years ago before ISIS blew up half the country, although I doubt it, but to declare 90-day compliance is already complete is nonsense. Hopefully, this post will reach a few KTFA members and they won’t be up until 4:00am waiting for a change. Save the all-nighter for about June 12, folks.

I did. That was hypothetical, though, and while I’m sure they have the technical capabilities, they may not be allowed to per IMF guidelines.

Who knows, guys? Maybe there’s something to that 90-day rule Kaperoni always talks about. I’ve actually seen it in writing from the IMF as it relates to acceptance of Article 8. That puts us around about June 12-15. In the grand scheme, that’s not too bad.

OMG. I can’t believe there are still people following that stuff. You need to forget everything you think you know about this, OP. Those people want to steal your money. How long have you been at this, incidentally?

Someone posted this link that has Investing.com showing 11.74 dinars to the dollar, and Bing now concurs with google at 598 dinars to the dollar. http://dinarvets.com/forums/index.php?/topic/251777-forex-exchange-usdiqd-1175/

Not that much. If the dollar lost half its value against the dinar, we would be seeing similar numbers against other currencies (and bankers jumping out of windows). It’s either a glitch or it’s real.

No, you’re not. It shows 0.0017 dollars to the dinar, or 598.87 dinars to the dollar. If true, that is a doubling of the value of the dinar vs the dollar.

Actually, yes. Yes, they are.

Old Mosul operation just started less than an hour ago... @NinevahMC 45min A special security source confirms the Nineveh media center to start a comprehensive military operation to liberate the old area of Ayman Mosul from the control of the organization calling the terrorist @NinevehMC 40min Special local sources confirm the Nineveh Media Center intensified fighting between the organization calling the terrorist and military pieces in the old area of Ayman Mosul -

Thanks, DWS112. I borrowed this one and the "big boom" article. Hope you don't mind. Great finds, by the way. I don't know how you guys manage to dig this stuff up.

No, they didn't. "With the economic boom led by Iraq’s oil industry, the national currency in the form of the Dinar will eventually rise to reflect the true value of the country’s oil wealth. The rise will most likely happen when the National Bank of Iraq lifts the artificially low value placed on the nation’s currency in 2003."

Here's the interview: http://www.alghadpress.com/news/94545/المستشار-الاقتصادي-لرئيس-الوزراء-أي-دولة-لها-علاقة Here are the relevant quotes from Dr. Mohammed Saleh, deputy economic adviser to Prime Minister Abadi: "...today we move from a centralized economy to a market economy, and for that there must be a sovereign wealth fund internal finances private sector" "I am optimistic and say that after the liberation of Mosul, there will be a new path of economic reform." "Loop" left out an important part of Saleh's quote, the qualifying clause after the part about moving from a centralized economy to a market economy, and he gave the impression that Saleh was literally talking about TODAY. He also neglected to mention the most important part of the whole interview, that second quote that gives a good time frame for when the implementation of the market economy will take place.

I wasn't sure about the other sources I've seen, but BasNews is legit. It's still kind of hard to believe, considering how unreliable Baghdadi news always is, but if BasNews is reporting it, this could actually be real.

They are now, indeed, surrounded. Their last escape route, to Tal Afar, has been cut off. @loomisroberto 28m Mosul is now cut off from Tal Afar after the liberation of Damarji al-Sughra from IS by Iraqi Forces Via @iraqi_day

Updated map as of about 30 minutes ago, courtesy of Mosul Eye on Twitter. Notice they are approaching the second bridge from the south after capturing the first bridge, called the Fourth Bridge, late yesterday. Thanks for all the updates, Yota and tiger. I've been borrowing them.

From 2015 (more at link): 500 billion dollars stolen under Maliki rule in Iraq: official http://www.dailysabah.com/mideast/2015/10/28/500-billion-dollars-stolen-under-maliki-rule-in-iraq-official Iraqi Commission of Integrity (CoI) spokesman Adil Nouri has claimed that half of the government's oil income and funds for reconstruction were 'stolen' and 'vanished' from Iraq during the 8-year period of office of former President Nouri Maliki.Speaking at the Iraqi Parliament, Nouri said that around 500 billion dollars from government coffers has "disappeared" and is perhaps the greatest corruption in history.Underlining that Iraq's oil income between 2006 and 2014 alone was only $ 822 billion, he said that the Maliki government had also received more than $250 billion in funds from many countries, namely the U.S., used to pay the salaries and pensions of Iraqi government workers and for reconstruction projects.

That's right. It's the 2006 law. The translator must be dyslexic today.

I don't want to get into a big, long research project over this, but here's the big one, from January 30 World Bank "Plunging OIl Prices" report: http://documents.worldbank.org/curated/en/2015/01/23884278/plunging-oil-prices The Plunging Oil Prices report questions the practice of pegging the Iraqi dinar to the US dollar, noting the that value of the dinar has been falling against the dollar in the parallel market: “Iraq pursues a policy of a de facto peg to the U.S. Dollar, and therefore monetary policy is constrained in tackling the current shock. “The Central Bank of Iraq (CBI) had kept the Dinar steady through January 2009. “In 2014, the nominal exchange rate in the official market remained stable against the U.S. Dollar at 1,166 IQD/1 USD, but the rate in the parallel market increased. “The CBI has recently taken steps to simplify foreign exchange market regulations, but has not eliminated all existing exchange restrictions and the multiple currency practice. “With the peg, fiscal policy carries the burden of macroeconomic stabilization, but in this case does not have the space to do so.“

You mean the other higher denom notes? There are no other lower denom notes. The 50 is/was the smallest they have, and the reason, as far as I can tell, is it was the only one of the current series that did not get re-printed, with better security features, last year.

Does anybody have that? $1000 worth of 50s would be 25,000 notes. Talk about bringing a wheelbarrow to the bank.

That's a Libyan note. We went through this at DA yesterday. Don't ask me why they put pics of Libyan money in an article about Iraq. Excellent post, Trin. Float on!