The Iraq Dinar News

Stryker Blog 09.11.2013

 
 

 

The Iraq Dinar News  

There are people out there that do not think that we who follow the news, will ever get anything real out of it, much less tell us when we could expect to see currency reform, but they are completely wrong. The news itself continues to unveil the truth, but you
just need to know what you are looking for.

Monday alone, the news told us about one of the most important draft laws that also is one of the last steps of Iraq’s final accession into the WTO.  

The law is called- The First Amendment to the Law on the Protection of Iraqi products No. 11 for the year 2010 submitted by the committees of economy, investment and legal.

Quote: one of the important laws to reform the economic reality of Iraq

Quote: that the law of the requirements of Iraq's accession to the WTO

Quote: and its entry in the global market

Quote: demanding the distribution of powers within the terms of reference of law.

And this one I will leave all together and it will lead me into my next point:

Quote:  In turn, pointed purity of net debt and the Minister of State for Parliamentary Affairs: that the law will contribute to Iraq's accession to the World Trade Organization (WTO) and its involvement in the free market, stressing: importance of not hinder the development of economic reality and the need to protect the local product to be able to compete in the global market. 

BTW, they - Parliament has read it twice now, one more read then a vote and passage. Between this most important Amended Law and what I pointed out to everyone last week concerning Iraq’s obligations made to the WTO, guaranteeing complete fulfillment to the International Covenants, I believe Iraq will have their Full Accession into the WTO very soon.

What does that mean? It means a fully convertible currency enabling Iraq to re-enter the International Market Place.

Supporting Links:

Parliament articles - Monday 9/9/2013

Stryker Blog 09.04.2013: Connecting Dots

Parliament Agenda of the meeting (17) Thursday ( 5 ) September 2013

WTO Articles for September

Personal Note: Thank you Newshound Gamaray for holding these articles and pointing out your highlights until I felt well enough to get back to work full time.

OK, debt consolidation and something I have been Blogging about for over a year now.

Iraq must have all their debt arranged one way or another (paid off or payment arrangements) before they can make a significant change in their monetary framework. It all goes back to Dr. Shabibi working with the Paris Club in reducing or countries forgiving billions of dollars’ worth of Iraq’s debt. Russia alone forgave $4 billion out of their $8 billion just to get their Oil drilling rights in Iraq back which Saddam took away from them when he stop paying Iraq’s debts to Russia in the late 90’s.

And we saw this again in June when Iraq was released out of Chapter VII just to find out that they will not be completely out of VII until Iraq pays all the compensation owed to Kuwait. Which at that time was $11 billion but soon after the partial release, the UN forwarded another $1 billion dollar payment in behalf of Iraq to reduce it to $10 billion.

Well this part of the above quote ties that article with other ones today: purity of net debt and the Minister of State for Parliamentary Affairs: that the law will contribute to Iraq's accession to the World Trade Organization (WTO).

Purity of net debt and this law will contribute to Iraq's accession to the World Trade Organization (WTO) is the way I read it. The other issue being fulfillment of all the Covenants. What I find very interesting is that today Gamaray posted articles confirming that Zabari along with the Executive Director of the Compensation Commission at the United Nations Tibor Raja wants to make the Kuwaiti debt a net zero by paying it in full.

Quote: "During the meeting, Iraq's efforts in fulfillment of its obligations to pay the remaining compensation to Kuwait."

Quote: Raja praised the "efforts aimed at ending this file", calling for "importance of benefiting from the environmental reform program undertaken by the United Nations in the region."

Quote: For his part, Zebari said Iraq's desire to "the completion of all belongings and close the file of compensation." 

Here is three other quotes from another article that helps bring all this facts even closer together for use:

Quote: solve issues of debt and frozen funds before approving the project

The project that is being referred to here is the project of deleting the zeros project from the currency.

Quote: the project to delete the zeros

Quote: delete the three zeroes from the currency so as to its importance in banking transactions

Note: they are saying that they are deleting the zeros from the currency and not deleting zeros from the value of the currency.

Folks, with these three major issues, The First Amendment to the Law on the Protection of Iraqi products No. 11, Purity of Net Debt and the International Covenants, we could see Iraq become a full seated member of the World Trade Organization real soon. 

This will enable Iraq to have a full convertibility of their currency that gets them into the Global Currency Organization known as the Forex market and the International Organization of Securities Commission, which lets the ISX play with the big boy investors
of the world. All of these things are needed for Iraq’s debut into the Global Economy and what we all have been waiting for years now.

Supporting Link:

ARTICLE OF THE DAY-Zebari discuss with the United Nations, Iraq's efforts to fulfill its obligations to Kuwait

Saadi: bourses Baghdad and Erbil real transformation to activate the work of joint stock companies

Amin Hadi: must address the issues of debt and money frozen by passing a law to delete
the zeros

I will end with another interesting and telling article posted by timesup late yesterday which I also named Article of the Day for Tuesday and a few quotes from it:

Quote: banking and financial tight monetary policy adopted by the Central Bank of Iraq contribute to reducing the phenomenon of dollarization is peppered the real value of the Iraqi dinar 

Quote: achieve monetary stability and price and then achieve the economic growth
target

Link: Article of the Day: Appendix: tight monetary policy and an effective means in the stability of the exchange market

The news is bringing us home without all the same old creative stories put out by others.

Hang in there and we will be bringing you clues in the news every day until we see this through together.

Have a great day,

Stryker

News Out of Kuwait City

One of my friends working out of Kuwait City that is with one of the major Oil Companies that also does oil production work in Iraq, has told me a few weeks ago that they started to resign all their old production contracts under new oil contracts. This must be done before new contracts can be signed under the new Oil & Gas Law (HCL), is what I’ve been told.

So the only logical conclusion IMO is that the Oil and Gas Law is or close to being finalized and approved by the Iraqi parliament upon their return or why else would this be going on? When I ask him if he knew this to be the case he just said, it shouldn’t be hard to draw your own conclusion from this! 

With this very good news and the fact that the Economic Reform Law was approved by Maliki and the CoM (Council of Ministers) and awaiting parliaments return, this is gearing up to be one interesting few weeks IMO.

Also we have only 6 sets left out of 50 for our Second Stryker Iraqi Dinar Holders meeting August the 31^st about being prepared and how to set up your own group. So the first RSVP’s to email me at info@StrykerBlog.com are in. All the rest of the RSVP’s are accounted for and details will be sent out as soon as we have the agenda and guest pinned down completely.

Have a great week,

Stryker

Economic Reform Day 2

Today another article on economic reform and today this article confirms that it needs parliament approval as well.

Quote: the importance of approving a bill to economic reform in the Iraqi parliament after being approved by the Council of Ministers at its previous

And this quote from the minutes of PM al-Maliki and the CoM meeting on the 13th:

Quote: submitted it to the Council of representatives

Good timing if you ask me since parliament returns on Tuesday of next week.

Link: http://stryker10.forumchitchat.com/post/STRYKERS-ARTICLE-OF-THE-DAY-Industrial-expert-Economic-Reform-Act-will-be-a-qualitative-leap-6477914

Oh right, here is another funny timing article in my opinion:

Link: Parliamentary Finance reveal postpone the deletion of zeros until after parliamentary elections

OK, is it just a coincidence that we now have out an article that says the deleting of zeroes have been postponed until after the election? The same article using the exact same language is also out but from another source. No coincidence but a planned statement IMO because of yesterday’s news.

It states that the government of Iraq wants guarantees that there will not be any forgeries from bringing in the zero notes.

Quote: "the government Committee agrees opinion, but it calls for guarantees of non-forgery or reference currency in the markets,"

It looks like they are concerned about the currency out in the market now being the issue because of the zeros it makes it harder to guarantee that they will not get forgeries in the replacement process. Meaning exchanging the large 3 zero notes with the smaller or deleted zero notes.

That does make sense but yet Shabibi said that they had ways to cut that down significantly. Thus the $15 million USD that was spent on De La Rue  machines in 2011 by the CBI.

The consensuses in our dinar community is that they were high speed currency counting, sorting and destroying machines. 

Banknote Destruction Solutions

De La Rue offers a range of flexible solutions for the secure destruction, conveying and collection of unfit banknotes and secure documents. Each system is designed to be a bespoke solution to meet the precise needs of the customer in terms of:

• Offline destruction needs (granulator)
• Shred handling requirements from online banknote sorting machines and offline granulator
• Throughput capacity
• Building layouts and room sizes

Each system is made up of a variety of individual components depending on the solution required:

• Hand-fed or infeed conveyor options for offline granulators
• Offline granulators
• Shredders for large sheets of paper
• Sound attenuating enclosures
• Pneumatic extraction system to convey shreds between sorting machines and granulator and the shred collection point
• Filters, with self-cleaning option available
• Briquetting and compacting systems, capable of working with paper and polymer
• Collection point for bagging or briquetting shredded banknotes and documents, with briquettes being conveyed outside the building if required
• Control system to integrate all components for efficient and safe operation
• Installation, commissioning and maintenance

A solution can consist of

• an online shred handling system only, where the shreds are conveyed from banknote sorting machines to a central collection point for bagging or briquetting, or
• an offline granulation and shred handling system, where secure documents or unfit banknotes are hand or conveyor fed into a granulator, with the shreds being conveyed to a central collection point as above, or
• a combination of the above two systems, where both offline and online shreds are conveyed to a single point of collection.

The systems are flexible and can be designed for throughputs ranging to a few tens of kg/hour up to 1000kg/hour or more, with individual components sized to suit the needs of that part of the system.

Link:  http://www.delarue.com/ProductsSolutions/
CashProcessingSolu/HardwareSolutions1/
BanknoteDestructionS/

My point is that these high dollar machines bring their percentages of forgeries way, way down so why would this now be an issue? The answer is, it’s not but yet just away to throw speculators off because of the minutes yesterday and I would not take these to heart until we hear from the CBI.

That’s all for now, have a great day,

Stryker

To read and leave comments to this Blog click link below:

Stryker Blog 08.15.2013: Economic Reform Day 2

Iraq's Prime Minister and Council of Minister's Sign Off On Economic Reform

Imagine yourself waking up to some very important news that is just shy of an RV announcement itself. Well that is exactly what happened to me this morning.

At approximately 12:00 o’clock midnight this morning our own Stryker Blog member ussohiorob posted that the Council of Ministers held its thirty-fifth regular meeting in Baghdad on Tuesday, 13 August 2013, headed by Prime Minister Nouri Kamel al-Maliki and issued the following decisions of the Council:

1.    approval of the draft law on economic reform, Federal auditor by the State Council, and submitted it to the Council of representatives, based on the provisions of articles (61/item first and 80/item 2) of the Constitution.

Iraqi Constitution

On Economic Reform:

Article 24:

The State shall guarantee the reform of the Iraqi economy in accordance with modern economic principles to insure the full investment of its resources, diversification of its sources, and the encouragement and development of the private sector.

Article 110

The federal government shall have exclusive authorities in the following matters:

First: Formulating foreign policy and diplomatic representation: negotiating, signing, and ratifying international treaties and agreements: negotiating, signing, and ratifying debt policies and formulating foreign sovereign economic and trade policy.

Link: http://www.iraqinationality.gov.iq/attach/iraqi_constitution.pdf

Here are two articles that have been posted already today:

Completion of draft law economic reform
21/02/2013 07: 54

Cabinet approves draft law on the federal economic reform BAGHDAD / Badr 08/14/2013

Links: Maliki finally has OFFICIALLY signed off on economic reform

What does all this this mean?

1)         It means that they/we took a big step towards full Currency Reform, Monetary Reform and what the true meaning will be when it comes to all these articles that have stated the following:

·        Delete the 3 zeros

·        Remove the 2 zeros

·        Lift the zeros by 3 zeros

·        Increase the value of the dinar by 3 zeros

·        Raise the purchasing power by 3 zeros

·        Introduce new currency by deleting 3 zeros

·        There are a few more but you should you know what I mean.

2)         Economic reform includes Monetary Reform and currency

        reform as indicated by the Republic of Iraq’s own Constitution.

3)         It means a better way of life for the Iraqi people and their investors!

4)         It means that they are ready to implement all the Arbil agreements thru the agreements made by Maliki and Barzani in April of this year because economic reform will not happen without this IMO.

5)         This should mean they are ready to pass the stalled laws before parliament starts on the 2014 fiscal budget.

6)         I personally have been waiting for the Official approval of Maliki and the Council of Ministers and this is what has taken place.

Folks, the CBI has always had the right to change the exchange rate in small amounts and has the authority to make changes to the Iraqi monetary system and has a little at a time.

They can also make large changes to the Iraqi system so as long as they can prove it is for the best of the country but if they are wrong and do it without the blessing of the GOI that would be the end of them. So they better be right if they do, that is why they want to be on the same page with the GOI, to cover their tracks in case it back fires.

I believe that I have pointed out the Government has the overall say in the most important changes and that my friends has just be been given by Prime Minister Nouri Kamel al-Maliki and the CoM.

The second best news that we could get other than the Revaluation itself.

Second Pre-RV Stryker Blog

Iraqi Dinar Get Together

I want to take this opportunity to announce today that we will be hosting our second Stryker Blog Iraqi Dinar Get Together Saturday August the 31^st for Stryker Members only. You must get your request to attend in right away as maximum attendance will be the first 50 to RSVP, first come first in.

Send exactly how many are coming in your group to info@StrykerBlog.com as soon as you can.

Meeting will be held at Texas Land & Cattle Steak House in Frisco. I am working out the exact time and menu and cost per-person right now but it should be around $50.00 per person if not less. Detail will be emailed to each one of you that have already RSVP’ed from my announcement we did via the Stryker WebTV broadcast last night.

Agenda will include what preparation you may need prior to the official CBI revaluation announcement.

Question & Answer: question from you and answers from real professionals, either in person or they will be by Skype.

Vietnam Dong Forum

I am also looking for someone that will be willing to manage a forum on the Vietnam Dong, if you are up to date on the Dong and want to head up your own forum within the Stryker Blog Forums please contact me.

The right personal will be given Administrators rights to manage this much needed forum.

Great news and a great time for us to get prepared IMO.

Have a great day and get those RSVP’s in,

Stryker

A Great Iraqi News Day

OK friends this is what I call a great Iraqi News Day. I will recap it already and it is still early there and more will surely come out.

I will lead off with my pick of Article of the Day: Because of this article we finally know why parliament was delayed and it’s not because of Maliki, lol.

Quote: "the most important reasons that led to the postponement of meetings of the Council is the insistence of Congress Kurdistan Alliance to take the vacation period of a week after the feast," noting that "the PKK was aspires to such leave since a long time"

Quote: "The other reason which led to postponement of hearings is to travel Speaker Osama Najafi to London for the purpose of conducting an operation in the ear after he was injured in the terrorist bombing that occurred within the parliament earlier,"

We are also getting more confirmation that parliament will return next week on the 20^th.

Quote: Presidency of the Council of Representatives decided earlier to be the 20th day of the month of August is the next date for the resumption of meetings of the Council.

Links: STRYKER'S ARTICLE OF THE DAY: سنجري: Kurdistan and Najafi were behind the postponement of parliamentary sessions to 20 this month

Here is an interesting quote but yet it confirms that in fact Parliament will meet next week: The head of the Iraqi List, Free Qutaiba al-Jubouri said that "the Presidency of the Council of Representatives has informed all members of the House of Representatives to hold its next meeting on the twentieth of this month, without specifying the paragraphs of the agenda of this meeting." 

This article covers a lot of opinions of what they could be talking about but as the quote above states they haven’t set the agenda.

This will be the 12^th meeting of the Council of the first legislative term for the fourth legislative year, so they are still in the current legislative session no matter what others have written.

Read this article to get a better idea of what these topics could be. I know it's not what we are looking for as topics but as this says, the agenda is not public yet either.

Link: Looking setback Parliament security and listens  to the Minister of Justice next week

This is a few quotes from one of Maliki’s members of parliament:

Quotes: A member of the block United Iraqi coalition/MP Khalid Al-alwani, the parliamentary session will see the adoption of the controversial laws, including the Federal Court and the General Amnesty and parties.

Quote: He added: in front of the Council House current legislative term which “ends in months”, and also there is a new chapter, there are important laws, including the Council approve the service and the Federation Council, Federal Supreme Court, infrastructure and general amnesty, parties and many other laws

Two Real important things are in this article if true.

1) It looks like this legislative term could go on for months.

2) Because of the needed passage of the important laws.

Link: Khalid Al-alwani: current session would witness the adoption of the controversial laws, including the Federal Court

There are many articles today that state that there is going to be another National Meeting in the next few days, here is a quote I really like:

Quote: "hold that any meeting between the leaders of the political blocs will leave a positive impact on the psyche of the citizens, and will contribute to improve the political and security situation in the country, noting that" the Forum held the national will contribute to the convergence of views between the political blocs and remove tension between .

Link: Deputy for the law excludes the National Forum held in the coming period

Here is one that either means that the National Meeting will be held next month or if in the case of many statements he could be referring to this month. (Next sometimes means This)

Quote: "Deputy mass sent invitations to leading political blocs to participate in the forthcoming national meeting next month"

Link: Send invitations to block political blocs to participate in a national meeting

Here is proof that the Committees are working to resolve the stalled laws.

Quote: the next meeting of the committee will resolve the discussions proposed general amnesty law, noting that most of the paragraphs was agreed upon.

Quote: "Committee of Five held two meetings during the past few days and _khassthma to discuss a proposed general amnesty law, and will be assigned the next meeting of the Commission for the completion of discussions of the proposed law and submit it to the Cabinet in the event of response of the National Alliance on a proposal of the Iraqi List." 

Quote: "the majority of the paragraphs in the proposed general amnesty law agreed within the Committee of Five,"

There are many more positive articles out today and you can visit them on our Dinar Related News page. All titles are hyperlinks into the forum where you can read what others have to say on these articles and more.

http://strykerblog.com/Dinar_Related_News.html

Have a good day,

Stryker