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Guest Posting & Responding Now Available

Dinar Chronicles is now allowing viewers to guest post and respond to articles. If you wish to respond or speak your mind and write a post/article or about the current situation relating to Iraq, the RV, the GCR and so on. You may now send in an entry.

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Featured Post

Restored Republic via a GCR: Update as of Aug. 16, 2017

Restored Republic via a GCR Update as of Aug. 16 2017 Compiled 1:11 am EDT 16 Aug. 2017 by Judy Byington, MSW, LCSW, ret, CEO, Child Abuse...

Tuesday, July 18, 2017

"Next Two Weeks" - Tues. AM KTFA Thoughts, News w/ Frank26

KTFA

Itsmedt » July 18th, 2017


If Iraqi employees are being paid on the July 28th at 1-1, but without parity to an international rate, the only real purchasing power is with locally produced items and services. Iraq is an import country. Anything imported is still being bought at the program rate of 1184. Therefore, with fewer dinars in their pockets, wouldn't this place extraordinary hardship on both the Iraqi population and their economy?

Frank26 » July 18th, 2017

Friend ............... You have it backwards .............. They now get paid at 100% dinars ..... 95% of it E-D ...... 5% of it in cash............. Hope this helps You.

JoeBrown » July 18th, 2017

frank, if they get 95 percent dinars at program rate of 1184 they will have over 1000 to one purchasing power now as they approach 1.1

Wont it be a shock when their pay is 1 to one. they have more money now relatively speaking right?

Frank26 » July 18th, 2017

Yes ........ But remember PP is for their eyes but the 1 to 1 is ONLY on paper right now.

Richard » July 18th, 2017

Dumb question bit what is the RTGS?

StephenMac63 » July 18th, 2017

Never a dumb question. Real Time Gross Settlement, its where a bank can settle an account with another bank immediately.

RJG » July 18th, 2017

Here is what I liked about last nights cc that no one is talking about. Frank said that IHO, that he expects to see the ATMs anytime in the next two weeks, which imo means LDs, which means a new revalued rate for the Dinar.

Upstart » July 18th, 2017

PRECISELY !

RJG » July 18th, 2017

if you have listened to Frank closely, he has stated it will take him about 6 months to get everything prepared once the iqd revalues. It is July 18th, 6 months from now would be Jan 2018. Case closed, Frank studies windows and we are still very much in the July window.

Frank26 » July 18th, 2017

OH %$#@ YES !!!

JJonesMX » July 18th, 2017

We are Stabilizing IQD Exchange Rate without a space for Speculation: CBI Governor


On Sunday, the Governor of Iraqi Central Bank issued a statement that main objective of CBI is to stabilize the balance between the sale of U.S dollar and demand in the domestic markets. He also added that the sustainability shouldn’t be considered an edge of speculation and huge profits.

The Governor of CBI delivered his words in a press interview with Alsumaria News and indicated that the Bank is looking to maintain a balance between the sales of U.S dollar and to keep it stable. He pointed out that the balance of foreign currency has become strong in the past couple of years and there isn’t any kind of space for speculation and huge profits. He added that Iraq has been experiencing some exceptional circumstances and a significant amount of decline in the global oil prices was considered one of the major reasons behind the economic and financial crisis in the country.

He added that there were two choices in front of the policy of Iraqi Central Bank, whether to respond the U.S dollar to prevent the speculations. But, it would be more costly in the reduction of foreign currency reserves at the CBI due to the foreign currency sale process or accept a margin of increase in the U.S dollar exchange rate against the Iraqi dinar currency. He said that the Iraqi Central Bank was looking to maintain a balance between two objectives.

He said that CBI was established as an independent bank under the law implemented on 6th March 2004. The Iraqi Central Bank is an independent body and responsible to maintain Iraqi dinar exchange rate and to implement its monetary policy. He added that the Central Bank of Iraq is also supervising 10 commercial banks, 16 Islamic banks, 26 waged banks, 19 foreign banks, 6 financial institutions and at least 31 financial conversion companies.

http://www.iraqidinar123.com/we-are-stabilizing-iqd-exchange-rate-without-a-space-for-speculation-cbi-governor/

Pattycakes77 » July 18th, 2017

Cbi talking loud and clear.

Quincy » July 18th, 2017

It's coming... LOUD & CLEAR

JJonesMX » July 18th, 2017

Not sure about this site tho; it seemed on The up & up..
WALKINGSTICK.... CAN YOU CONFIRM; IF YOU HAVE TIME SIR...

Walkingstick » July 18th, 2017

Original article:

Central Bank Governor: We seek to achieve a balance between the sale of the dollar and keep it

Sunday July 16, 2017

said the central bank governor, Sunday, the bank aims to achieve a balance between the sale of the dollar and keep it, indicating that the balance is a margin of speculation and big profits.

He said Ali Keywords in an interview with Alsumaria's News, said that " the bank seeks to achieve a balance between the sale of the dollar and keep it , " noting that " the balance of the foreign currency enough as it gets in previous years there is no margin of room for speculation and big profits."

He added Keywords that " Iraq is going through exceptional circumstances due to lower oil prices dramatically, making the central bank 's policy in front of two choices : either to respond to the dollar in order to cancel the margins and this would be at the expense of the reduction of foreign currency reserves or Nguenn sale process and accept a margin of appreciation of the exchange rate , " he " the Bank seeks to balance between the two objectives."

And established the Central Bank of Iraq is an independent bank under the law issued on the sixth of March 2004, an independent body, which is responsible for maintaining price stability and the implementation of monetary policy, and supervises 10 commercial banks and 26 banks waged and 16 Islamic banks, in addition to 19 foreign banks, as well as 6 financial institutions and 31 companies for financial conversion.

http://www.alsumaria.tv/news/2.....%D9%84/ar#

Frank26 » July 18th, 2017

WHAT DID I SAY TO DO WHEN WS POST TO YOU FAMILY?
READ IT !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! UNDERSTAND IT !!!!!!!!!!!!!!!!!!!!
APPLY IT .............. Aloha \m/


G_Money » July 18th, 2017

How sweet is that...

And there are people that actually think this currency is only worth 1/8th of a penny...

TRUE VALUE SOOOOM !!!!!!!!!!!! imo of course

Central Bank: confirms Iraq's possession of the fifth gold reserves in the world

o Baghdad / Zahraa al-Jassim

Economist Ahmed Barihi considered Iraq's possession of the world's fifth gold reserves as good and useful. He pointed out that while gold is one of the main reserves of the international center, which is topped by hard currency, the Iraqi Central Bank can at any moment convert gold into foreign currency and use it in international transactions. Reinvest them in the international market or also use them to repay debts.

The Central Bank of Iraq announced on 16-7-2017 that the bank's gold reserves are 90 tons and it occupies a high international ranking. The total gold reserves in the bank is 90 tons, thus it occupies the 37th position globally and the seventh in the Arab world. The Central Bank of Iraq gold in 2012 was only 30 tons, but it has reached three times now, at a time when the World Gold Council announced the rise of the world's reserves of gold in the month of February, noting that Iraq has maintained the fifth rank of Arab reserves.

According to economic expert Ahmed Breihi in an interview with (the extent), the Central Bank intended this statement that the reserves owned by him enough, but: On the other hand, the reserve, which is said when the talk of the Central Bank called international reserves, and the use of the term cash reserves expression The reserves are composed of two paragraphs: the first is the reserves of foreign currency, and the second is other reserves, including gold. When foreign currency reserves are added with gold, they are called international reserves. Therefore, these reserves are now sufficient for the Central Bank of Iraq Compared to other countries and central banks, and this is what the Central Bank of Iraq said in his statement on the possession of Iraq ranked fifth of the Arab world reserves.

The governor of the Central Bank Ali Alalak, announced on 11/5-2017, the increase in foreign exchange reserves than in 2016, confirming the rise to 49 billion dollars.

"When the central bank says that gold reserves are now 90 tonnes, that means a small portion of the reserves is good, because gold is usually a central part of the reserves," he said. "However, we are ranked fifth in the global gold reserves , Which is useful, especially as gold reserves can be converted to anything else, and can be the central bank at any moment to convert them into foreign currency and used in international transactions or re-investment in the international market, which is certainly a good store because gold is a means of saving value and central A can This gold is converted into a foreign currency and is used for the purposes that it wants, whether to finance foreign trade or to employ the amount in the international financial market or to repay debts.

He adds that the reserve of gold is certainly a good stock in the central bank, and we can also benefit greatly from the confidence of the world in gold, but the reserves of central banks remain primarily foreign currency, adding: On the other hand, the reserve of the Central Bank of foreign currency is not A little, especially since the central recently stated that the reserves of foreign currency is sufficient, therefore, according to the concerns of the Central, the international reserves of gold and foreign currency are sufficient and good, making Iraq's position to international financial organizations good and reassuring at the same time.

The World Gold Council in its statistics published on its website last Saturday, that Iraq has maintained 37th place in the world out of 100 countries listed in international financial statistics of the global reserves of gold during the month of February of 2017, pointing out that Iraq ranked fifth in the Arab after each From Iraq, Saudi Arabia, Lebanon, Algeria and Libya, and that Iraq's gold reserves remained constant, recording 89.8 tons, representing 7.0 of the rest of the other currencies, indicating that the last purchase of Iraq from gold was in April 2014, where he bought 15.16 tons.

The world's reserves of gold rose for the month of February by 11 tons from January to 33 thousand and 259 tons, while the United States ranked first in the world in terms of reserves, which amounted to 8.133.5, followed by Germany with 3.377 tons,

The Central Bank decided in early 2014 to form a series of pure gold bullion weighing between 50 g and 1000 g for sale to gold traders, investors and segments of society wishing to do so in Iraqi dinar. The World Gold Council is an international organization based in London, Both New York and Momb J, Shanghai, Beijing, Tokyo and Singapore, the Council aims to develop the global gold industry market and works with international organizations to stimulate demand and develop innovative uses of gold and take new products to the market, as the Council provides a comprehensive analysis to give decision-makers information on the demand for gold factors.

http://almadapaper.net/ar/news.....33066/link

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