DINAR GURUS UPDATE, 5 MARCH

3-5-2015   Newshound Guru Adam Montana   […do you feel that anything less than a dollar would stop the people from using the dinar and cause a major run on the US dollar? It just seems to me that there a so many resources to justify at least a dollar.]  You stated that there are so many resources to justify at least a dollar – I agree, but the reason I propose it will be lower is because they

MY LADIES & NOVA CHAT UPDATE, 5 MARCH

BaNDIToRoX:  Like Nova has said a Dinar is a DinarExpert: delete the zeros supports the national currency and reduce inflation in the countryBAGHDAD / … confirmed an economic expert d. Peace Sumaisem, on Thursday, on the importance of the subject of the deletion of zeros from the Iraqi dinar, considering it as a support of the national currency, and a reduction of inflation in the

Expert: delete the zeros supports the national currency and reduce inflation in the country, 5 MARCH

Expert: delete the zeros supports the national currency and reduce inflation in the country

BAGHDAD / … confirmed an economic expert d. Peace Sumaisem, on Thursday, on the importance of the subject of the deletion of zeros from the Iraqi dinar, considering it as a support of the national currency, and a reduction of inflation in the country.Sumaisem said, in a statement to “Ein Iraq News”, “

My Ladies, Nova and Friends Chat Thursday Morning: “It’s Like a Flood Today”

Thank You My Ladies for Allowing Recaps to Share this today:

BaNDIToRoX:  Like Nova has said a Dinar is a Dinar

Expert: delete the zeros supports the national currency and reduce inflation in the country

BAGHDAD / … confirmed an economic expert d. Peace Sumaisem, on Thursday, on the importance of the subject of the deletion of zeros from the Iraqi dinar, considering it as a support of the national currency, and a reduction of inflation in the country.

Sumaisem said, in a statement to “Ein Iraq News”, “delete the zeros includes two basic objectives, the deletion of zeros, and the restructuring of the Iraqi currency, instead of the $ 100 equals 120 000 Iraqi dinars, after deleting three zeros become a $ 100 equals 100 Iraqi dinars, which is equal to the dollar and the dinar This means strengthening the Iraqi currency. “
….
 “The country suffers deficit as Iraq does not it can support its currency unless received grants from third parties, and whether this possible implementation it is important, reframes the value of the currency indirectly supporting the national currency, and when structuring currency returned it reduces inflation Iraq “. Finished / 13

http://aynaliraqnews.com/index.php?aa=news&id22=33283

************

Jxxxxx:   Is this article stating what I think it’s stating that the deletion of zeros and the restructuring of the Iraqi currency becomes $100 equal to 100 Iraq dinar’s?  Did I read that correctly?

Mxxx:  It says a 1:1

JG:  I believe thats in country but 1-1 to start isnt bad

MY LADIES:  OK HOW MANY OF YOU ARE GOING TO GO LIVE IN IRAQ?

SO WHY ARE WE CARING ABOUT THIS ARTICLE IF WE LIVE HERE?

A DINAR IS A DINAR IS A DINAR IN IRAQ, THEY GAVE EXAMPLE FOR THOSE USED TO TRANSACTING THE DOLLAR

A DOLLAR IS A DOLLAR IS A DOLLAR IN USA, BUT IN JORDAN IS DOLLAR IS SOMETHING MORE

Mxxxx:  Well,  I’m not sure that is what it says.  It says that they are “restructurung” and that a dollar will equal a dinar.

MY LADIES:  CORRECT…SO WHAT IS THE PROBLEM

Exxxx:  same for them as us  They change 1 dollar in and get 1 dinar worth the new rate    We trade one dinar in and get the dollar worth in the new rate

MY LADIES:  YES Exxxx  CORRECT… SO NOW WE CAN PUT 10 CENTS TO BED

Hxxxxxxxxxxx:  I think most of us are still having a challenge seperating in country and international

PD:  Wow great article. We are really getting there.

Exxxx:   try this. Out of the country it has a value to exchange for the new rate. say $4  In country a dinar is worth a dinar. BUT  compared to the dollar it has the equivelant to 4 US dollars

NOVA:  YOU GOT IT!!!

Exxxx:  Should add $4 of buying power…..but it is still 1 dinar

BanDIToRoX:   NOVA!!!! A DInar is a Dinar is a Dinar

WCxxxxx:  re·mit·tance   rəˈmitns/  noun  plural noun: remittances

a sum of money sent, especially by mail, in payment for goods or services or as a gift.

synonyms: payment, money, fee; More

the action of sending money in payment.

[8:15:50 PM] MY LADIES: OK WE HAVE THAT ARTICLE 3 TIMES NOW…THANK YOU, DOES ANYONE KNOW WHAT THEY’RE SAYING?

[8:16:11 PM] MY LADIES: DOES ANYONE KNOW WHAY THEY’RE SAYING IN ANY OF THESE ARTICLES?

HCL, oil baby!!!!

**********

Rxxxxx:  But, when they do drop the 000s we have reform

Hxxxxxxxxxx:  Nova would this be for example lets say a loaf of bread in Iraq was 4 dinar after a 1 to 1 in country and a person could then buy with $1 or 4 dinar?  Or am I off?

Exxxx:  Hxxxxxxxxx- Let me try this. Today a pair of shoes is $12 in Iraq  It cost them 12 US dollars or how many per thousands of dinar at 1166    After the revalue if at $4 it cost them 12 US dollars or 3 dinar  would you trade yours in country 1 for 1???  I think so and that is how they will get the dollars off the street as fast as we get the dinar out of our hands.

NOVA:  With the BREAD EXAMPLE, now factor in the PURCHASING POWER ON IMPORTS and the BREAD WILL REALLY COST .25 IQD

MY LADIES:  SO NOVA I GUESS THE TURN 50 DINAR IN AT THAT BANK NOW FOR 1166 GOT TOSSED OUT THE WINDOW

AND I GUESS .10 – .30 WENT WITH IT

WOULD YOU AGREE??? LOL

NOVA:  YES ML I AGREE 100%!!!!!

Hxxxxxxxxxx:  I think I get it Nova–1d to $4  is the same as .25d to $1….in country value

Exxxx:  Hxxxxxxxxx-  1 dinar is worth 1 dinar.  It has equel to $4 US dollars of buying power in Iraq after the revalue……  The peso last year was 10 pesos to the dollar   This year it is 15 pesos to the dollar.  1 peso is still worth one peso.

************

MY LADIES:  SO GOOD NEWS TODAY WE HAVE REMITTANCES ON SUNDAY, MECHANISM IN PLACE, AND START THE DELETE THE  ZEROS.

NOW LETS KEEP LOOKING FOR SOMETHING FROM THE CBI.

BanDIToRoX:   Central Bank direct banking customers transfers execution beginning next Sunday

And the Central Bank said in a statement that “banks will implement the transfer of customers from Sunday 8/3/2015, after the completion of all the procedures and mechanisms of these banks.”

http://www.microsofttranslator.com/bv.aspx?from=ar&to=en&a=http%3A%2F%2Fburathanews.com%2Fnews%2F260632.html

MY LADIES:  OK SO HERE WE SEE IT AGAIN FOR STARTING TRANSFER OF FUNDS ON MARCH 8TH….WELL WHAT A GOOD MORNING THIS HAS BEEN

**********

MY LADIES:  HA HA HA …DID WE TELL YOU THE HCL WAS IN THE BUDGET??????????????

WELL LOOK AT THIS…GO AHEAD BANDITO POST IT

BanDIToRoX:   Vice Kurdistan: the oil agreement between Kurdistan and the federal government has already become law

05/03/2015 05:04 | Trend Press – special

MP for the PUK Ardalan Noureddine the latest oil deal between Kurdistan and the federal government has already become law

Ardalan In an interview with the TV channel said that some of the trend speaks about the possibility of agreement or cancel with the fact that this agreement has already become law after a binding for all after he entered in the federal budget for 2015 approved by the House of Representatives recently

The Kurdistan Alliance MP capable Mohammed said in a statement that “the odds of Baghdad and Erbil on the oil agreement, economic reasons in conjunction with the crisis experienced by the country and the need to export larger quantities of oil.”

Mohammed said that “what happened last intersection, does not rise to the level of crisis, but rather a simple barrier can be resolved through dialogue,” stressing “the determination of the parties to agree on the implementation of the oil clauses full form.”

http://aletejahtv.org/index.php/permalink/49245.html

Rxxxxx:  WOOPOW   (Borrowed)

DS:  Now you can go out and take it to the BANK

NOVA:  ITS LIKE A FLOOD TODAY!!!!!!!

MY LADIES:  HOLD YOUR HATS ON THERE’S MORE

Economy


Rasheed Bank announces exchange instruments of the pilgrims and the salaries of retirees of Nineveh and Salahuddin procedures

BAGHDAD / .. decided Rasheed Bank, on Thursday, to facilitate the procedures of the payment instruments pilgrims winners and non-winners in the hot spots (Nineveh / Salahuddin / Anbar) .

A statement of the Ministry of Finance “Eye Iraq News” received a copy of it, the Director General of the Bank Mohamed Abdel Wahab was quoted as saying that “the new regulations issued by the Rasheed Bank allows the citizen review of a number of branches that have been allocated for the disbursement of funds deposited instruments calculates open the pilgrimage at the bank,” he said to be allocated to the branches are (Karkh / 23 Karkh district and branch 520 student Rusafa / Alboshjaa 519) and the province of Kirkuk (Babacrker / Branch June 1) and in Anbar province (gray Branch) and the province of Salah al-Din Samarra Branch).

http://aynaliraqnews.com/index.php?aa=news&id22=33293&lang=

MY LADIES:  THEY ARE READY TO DISTRIBUTE FUNDS TOO…

Rxxxxx:   SHUT THE FRONT DOOR

JP:  Jerry McGuire-time!!!!

My Ladies, Nova and Friends Chat Thursday Morning: “It’s Like a Flood Today”

Thank You My Ladies for Allowing Recaps to Share this today:

BaNDIToRoX:  Like Nova has said a Dinar is a Dinar

Expert: delete the zeros supports the national currency and reduce inflation in the country

BAGHDAD / … confirmed an economic expert d. Peace Sumaisem, on Thursday, on the importance of the subject of the deletion of zeros from the Iraqi dinar, considering it as a support of the national currency, and a reduction of inflation in the country.

Sumaisem said, in a statement to “Ein Iraq News”, “delete the zeros includes two basic objectives, the deletion of zeros, and the restructuring of the Iraqi currency, instead of the $ 100 equals 120 000 Iraqi dinars, after deleting three zeros become a $ 100 equals 100 Iraqi dinars, which is equal to the dollar and the dinar This means strengthening the Iraqi currency. “
….
 “The country suffers deficit as Iraq does not it can support its currency unless received grants from third parties, and whether this possible implementation it is important, reframes the value of the currency indirectly supporting the national currency, and when structuring currency returned it reduces inflation Iraq “. Finished / 13

http://aynaliraqnews.com/index.php?aa=news&id22=33283

************

Jxxxxx:   Is this article stating what I think it’s stating that the deletion of zeros and the restructuring of the Iraqi currency becomes $100 equal to 100 Iraq dinar’s?  Did I read that correctly?

Mxxx:  It says a 1:1

JG:  I believe thats in country but 1-1 to start isnt bad

MY LADIES:  OK HOW MANY OF YOU ARE GOING TO GO LIVE IN IRAQ?

SO WHY ARE WE CARING ABOUT THIS ARTICLE IF WE LIVE HERE?

A DINAR IS A DINAR IS A DINAR IN IRAQ, THEY GAVE EXAMPLE FOR THOSE USED TO TRANSACTING THE DOLLAR

A DOLLAR IS A DOLLAR IS A DOLLAR IN USA, BUT IN JORDAN IS DOLLAR IS SOMETHING MORE

Mxxxx:  Well,  I’m not sure that is what it says.  It says that they are “restructurung” and that a dollar will equal a dinar.

MY LADIES:  CORRECT…SO WHAT IS THE PROBLEM

Exxxx:  same for them as us  They change 1 dollar in and get 1 dinar worth the new rate    We trade one dinar in and get the dollar worth in the new rate

MY LADIES:  YES Exxxx  CORRECT… SO NOW WE CAN PUT 10 CENTS TO BED

Hxxxxxxxxxxx:  I think most of us are still having a challenge seperating in country and international

PD:  Wow great article. We are really getting there.

Exxxx:   try this. Out of the country it has a value to exchange for the new rate. say $4  In country a dinar is worth a dinar. BUT  compared to the dollar it has the equivelant to 4 US dollars

NOVA:  YOU GOT IT!!!

Exxxx:  Should add $4 of buying power…..but it is still 1 dinar

BanDIToRoX:   NOVA!!!! A DInar is a Dinar is a Dinar

WCxxxxx:  re·mit·tance   rəˈmitns/  noun  plural noun: remittances

a sum of money sent, especially by mail, in payment for goods or services or as a gift.

synonyms: payment, money, fee; More

the action of sending money in payment.

[8:15:50 PM] MY LADIES: OK WE HAVE THAT ARTICLE 3 TIMES NOW…THANK YOU, DOES ANYONE KNOW WHAT THEY’RE SAYING?

[8:16:11 PM] MY LADIES: DOES ANYONE KNOW WHAY THEY’RE SAYING IN ANY OF THESE ARTICLES?

HCL, oil baby!!!!

**********

Rxxxxx:  But, when they do drop the 000s we have reform

Hxxxxxxxxxx:  Nova would this be for example lets say a loaf of bread in Iraq was 4 dinar after a 1 to 1 in country and a person could then buy with $1 or 4 dinar?  Or am I off?

Exxxx:  Hxxxxxxxxx- Let me try this. Today a pair of shoes is $12 in Iraq  It cost them 12 US dollars or how many per thousands of dinar at 1166    After the revalue if at $4 it cost them 12 US dollars or 3 dinar  would you trade yours in country 1 for 1???  I think so and that is how they will get the dollars off the street as fast as we get the dinar out of our hands.

NOVA:  With the BREAD EXAMPLE, now factor in the PURCHASING POWER ON IMPORTS and the BREAD WILL REALLY COST .25 IQD

MY LADIES:  SO NOVA I GUESS THE TURN 50 DINAR IN AT THAT BANK NOW FOR 1166 GOT TOSSED OUT THE WINDOW

AND I GUESS .10 – .30 WENT WITH IT

WOULD YOU AGREE??? LOL

NOVA:  YES ML I AGREE 100%!!!!!

Hxxxxxxxxxx:  I think I get it Nova–1d to $4  is the same as .25d to $1….in country value

Exxxx:  Hxxxxxxxxx-  1 dinar is worth 1 dinar.  It has equel to $4 US dollars of buying power in Iraq after the revalue……  The peso last year was 10 pesos to the dollar   This year it is 15 pesos to the dollar.  1 peso is still worth one peso.

************

MY LADIES:  SO GOOD NEWS TODAY WE HAVE REMITTANCES ON SUNDAY, MECHANISM IN PLACE, AND START THE DELETE THE  ZEROS.

NOW LETS KEEP LOOKING FOR SOMETHING FROM THE CBI.

BanDIToRoX:   Central Bank direct banking customers transfers execution beginning next Sunday

And the Central Bank said in a statement that “banks will implement the transfer of customers from Sunday 8/3/2015, after the completion of all the procedures and mechanisms of these banks.”

http://www.microsofttranslator.com/bv.aspx?from=ar&to=en&a=http%3A%2F%2Fburathanews.com%2Fnews%2F260632.html

MY LADIES:  OK SO HERE WE SEE IT AGAIN FOR STARTING TRANSFER OF FUNDS ON MARCH 8TH….WELL WHAT A GOOD MORNING THIS HAS BEEN

**********

MY LADIES:  HA HA HA …DID WE TELL YOU THE HCL WAS IN THE BUDGET??????????????

WELL LOOK AT THIS…GO AHEAD BANDITO POST IT

BanDIToRoX:   Vice Kurdistan: the oil agreement between Kurdistan and the federal government has already become law

05/03/2015 05:04 | Trend Press – special

MP for the PUK Ardalan Noureddine the latest oil deal between Kurdistan and the federal government has already become law

Ardalan In an interview with the TV channel said that some of the trend speaks about the possibility of agreement or cancel with the fact that this agreement has already become law after a binding for all after he entered in the federal budget for 2015 approved by the House of Representatives recently

The Kurdistan Alliance MP capable Mohammed said in a statement that “the odds of Baghdad and Erbil on the oil agreement, economic reasons in conjunction with the crisis experienced by the country and the need to export larger quantities of oil.”

Mohammed said that “what happened last intersection, does not rise to the level of crisis, but rather a simple barrier can be resolved through dialogue,” stressing “the determination of the parties to agree on the implementation of the oil clauses full form.”

http://aletejahtv.org/index.php/permalink/49245.html

Rxxxxx:  WOOPOW   (Borrowed)

DS:  Now you can go out and take it to the BANK

NOVA:  ITS LIKE A FLOOD TODAY!!!!!!!

MY LADIES:  HOLD YOUR HATS ON THERE’S MORE

Economy


Rasheed Bank announces exchange instruments of the pilgrims and the salaries of retirees of Nineveh and Salahuddin procedures

BAGHDAD / .. decided Rasheed Bank, on Thursday, to facilitate the procedures of the payment instruments pilgrims winners and non-winners in the hot spots (Nineveh / Salahuddin / Anbar) .

A statement of the Ministry of Finance “Eye Iraq News” received a copy of it, the Director General of the Bank Mohamed Abdel Wahab was quoted as saying that “the new regulations issued by the Rasheed Bank allows the citizen review of a number of branches that have been allocated for the disbursement of funds deposited instruments calculates open the pilgrimage at the bank,” he said to be allocated to the branches are (Karkh / 23 Karkh district and branch 520 student Rusafa / Alboshjaa 519) and the province of Kirkuk (Babacrker / Branch June 1) and in Anbar province (gray Branch) and the province of Salah al-Din Samarra Branch).

http://aynaliraqnews.com/index.php?aa=news&id22=33293&lang=

MY LADIES:  THEY ARE READY TO DISTRIBUTE FUNDS TOO…

Rxxxxx:   SHUT THE FRONT DOOR

JP:  Jerry McGuire-time!!!!

ADAM MONTANA, MILLIONDAY, TLAR & SCZIN11 UPDATES, 5 MARCH

3-5-15 Adam Montana: [Once currency is international, won’t most banks exchange it?] 

Once the currency is international, you are correct, most major banks will be exchanging it.

 [Is there a scenario, in your opinion, where Iraq would NOT honor any dinar outside of their country?] 

Yes, but it’s more complicated than that. Iraq doesn’t actually do business “outside” of their country. Every

The disappearance of the body of Saddam Hussein, Uday and Qusay

The disappearance of the body of Saddam Hussein, Uday and Qusay

05-03-2015 06:10 PM

Proceeded umbrella of the elements in the popular crowd, on Wednesday night, the bombing of the tomb of former President Saddam Hussein, in the town of Awja, in an effort to dig the grave, where he was carrying shovels, but they did not find anything.

He said a tribal sheiks in Salah ad Din province, In a press statement, seen by the (news), said: ‘dozens of members of the crowd, proceeded on Wednesday night to attack the burial of former President Saddam Hussein in the far town of Awja, 20 km south of Tikrit, and that includes his side graves of his sons Uday and Qusay, and his grandson, Mustafa and his brother In an effort to dig the grave where they were carrying shovels, but they did not find anything, as the bodies of Saddam and his family had been moved a few months ago to a secret location, in anticipation of this matter."

The Vault has been seven months ago, almost to a similar attack carried out by militias and set it on fire.

He said Sheikh, who requested anonymity, that the ‘first attack caused by burning Vault completely and steal a museum holdings former president, but yesterday’s attack was more vengeance, where blew up the building, composed of several rooms and the Dome of large above the place entirely’.

For his part, a relative of the former president, said: ‘attackers did not find any body and the graves were empty, we have moved to a safe place did not know him, but Mtdon people on the fingers of the hand, knowing that they will take revenge from the grave in the event enables them to it.’

to it boycotted official said federal police forces operations in Salahuddin province, Lt. Col. Abdul Salam Anaz, the incident, noting that ‘volunteers from the popular crowd infiltrated by night to the place and blew a individual act and can not be counted on the popular crowd, which is fighting terrorism and terrorists to the security of Iraq’, He called ‘media event not to employ for the purposes of serving the terrorists and the perception of the popular crowd sectarian gown is not worthy of him.’

http://www.ikhnews.com/index.php?page=article&id=137136

Forex – Pound steady at 3

Investing.com –

Investing.com – The pound was steady at three-week lows against the dollar on Thursday after the Bank of England kept monetary policy on hold, in a widely anticipated decision.

GBP/USD was last down 0.12% at 1.5245, from around 1.5358 ahead of the announcement.

The BoE left interest rates unchanged at their current record low of 0.50%, where they have been since March 2009. The central bank also maintained the stock of asset purchases financed by the issuance of central bank reserves at 375 billion.

The minutes of the meeting of the central bank’s monetary policy committee will be published on Wednesday, February 18.

The dollar remained broadly stronger, with the dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies at 11-year peaks of 96.23, boosted by weakness in the euro.

The euro fell to fresh 11-year lows against the dollar earlier Thursday ahead of a European Central Bank meeting later in the day, where it was expected to outline the details of the bond purchasing stimulus program it announced in January.

EUR/USD hit lows of 1.1026 and was last at 1.1048, down 0.27% for the day.

ECB President Mario Draghi was expected to shed more light on how the bank will implement its large scale quantitative easing program which is due to start this month, following the bank’s policy meeting.

Sterling was at seven-year peaks against the broadly weaker euro, with EUR/GBP at 0.7250.

Investing.com
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Like looking through a Crystal Ball

MY LADIES:

Dxxx:  I would think that the entity that demonetized Iraq’s currency would be the very same entity that has the power/control to re-instate their currency…so although Iraq says they have given the green light, they are still waiting on BIS/IMF to hit the switch. SO CBI would be coordinating with BIS to get this show on the road.

MY LADIES:  Dxxx THE UN HAS TO RESTORE THE CURRENCY.

Dxxx:  Yes, ML…point being, CBI can’t do it w/o an outside entity saying so.

MY LADIES:  OH RIGHT Dxxx…

Dxxx:  so we should be looking for articles as to what the UN is doing in the coming days…or do they post their activity?

MY LADIES:  THEY DON’T POST, IT’S JUST FOR OUR KNOWLEDGE, THE UN IMPOSED SACTIONS AND THE UN CAN TAKE AWAY.

I THINK 3 THINGS WILL HAPPEN AT THE SAME TIME.

THE BIS WILL SAY GO. THE UN WILL MAKE AN ANNOUNCEMENT OF IRAQ HAVING THEIR CURRENCY BACK AND IMF WILL FINISH ARTICLE 8 COMPLIANCIES.

Dxxx:  But U forgot 1 thing-WHEN????

MY LADIES:  CRYSTAL BALL IS STILL FOGGY.

Tlar’s Perspective On The Dinar Currency

Thank You Tlar for sharing your perspective with DinarLand

Tlar    “Scooter: there’s approximately 4 trillion in hard currency”   “Scooter: Saleh just reported that one”

I would like to make a couple of comments here.  If you believe Scooter is a good researcher and reliable witness then he is verifying that there was 4 trillion dinars in circulation in early 2012 as told to us by Saleh, that I have been referencing also since early 2012.   

Saleh did not say circulating in Bahgdad as Scooter referenced above.  Saleh made a blanket one time only reference to circulating dinar, and it has always been my belief that either he or Shabibi realized that this was a mistake to say anything at all so it has never been eluded to again.

 This number gives us and smart Iraqi’s a beginning number with which to approximately tract how much currency is left at anytime.  During this period there was an ebb and flow to the dinar.  
~~~

Dinars were being taken in off the street and at the same time as salaries were being paid they were being put on the street. 

I made the argument in 2012 that if we tracked the auctions and how many dollars were sold daily (not remittances, just currency sales to banks) and we were to subtract the dinars being put out by the ministries to pay bills, salaries etc, we would have an approximate number reflecting the amount of dinars being retired weekly leaving us with the approximate number of dinars circulating. 

I started to do this toward the end of 2012 myself along with help from Carrello.  We first had to go back and recapture the number to the first of 2012 (when Saleh gave us the starting point).

 Carrello (Brule) fed me the auction numbers for a while (cash only sales to Iraqi banks) and we set out to systemize a way to track this number.  I got such a ration of crap from Kaperoni after I mentioned it on DA because by this time the float theory was born and this kind of info had no place in that theory. 

 A month or so later he banned me from the site but for the month leading up to my being banned, I was silenced.  I stopped the project.

Why track this number?  It is important for a couple of reasons. 

First in December of 2011 the CBI posted that they had let only a little more than 30 trillion dinar out of the CBI up to that point.  That number encompassed all the dinar ever let out of the CBI since 2003.

 If we believe Saleh and figure that 4 trillion physical dinars were in Iraq circulating by the first part of 2012, that left approximately 26 trillion that were let out of the CBI unaccounted for.

 In other words they were spread out across the globe.  Remember, in January 2010 Maliki had signed favored trade agreements with both Syria and Iran.  Both countries immediately recognized the dinar and accepted it in trade. 

Citizens on both side of both borders were trading briskly with support from the central banks in all three countries, willing to swap the currencies back and forth. 

The point was that Iran and Syria were accumulating trillions of dinar and at some point for this project to be successfully implemented without empowering rouge states, those dinars would have to be repatriated and taken out of the hands of these two states with reputations of sponsoring terrorism.

 We saw heavy UN sanctions put on both countries and at the same time the CBI stated to their citizenry they would no longer deal in or accept either countries currency.

 Thus began the title wave of buying dinars back from Syria and Iran as both countries in bad need of hard currency due to sanctions, started dumping dinars in Iraq and smuggling USD out.

 The CBI was at one point selling over  a billion USD every three days repatriating over a trillion dinar every three days.  This was both dollarizing Iraq and cleaning out Syria and Iran at the same time, or at the very least getting them down to an acceptable level before the project to delete the zeros could be implemented.

Today we know Iraq has been pretty much dollarized.  Most articles have indicated that most transactions are done in USD.  By now both Syria and Iran dinar holdings have been significantly reduced at least to an acceptable level. 

We hear stories that dinar dealers in the US are having trouble replenishing their stocks of dinar. 

We also know that recent articles have said that there is 37 trillion dinar out.  I would suggest once again this is an aggregate number meaning it represents all dinar ever let out of the CBI,  both circulating and non-circulating dinar. 

 I would like to hazard a guess as to how much physical dinars there are circulating today as did Scooter in 2012.  My best guess is a trillion or less. 

I have come to this conclusion by figuring that if in the middle of 2013 they re-printed  5 trillion dinar to replace approximately 3 trillion dinars they felt were circulating in Iraq by the middle of 2013, knowing that in the first quarter of 2012 Saleh said there were 4 trillion circulating at that time,

then that is approximately a 1 trillion reduction of circulating dinars in Iraq during a period they were buying back trillion and trillions of dinar from Syria and Iran. 

By 2014 we saw the auctions drop to a reasonable level, meaning the bulk of the buyback from these two countries had taken place, and the real Iraqi ebb and flow in Iraq was still going on. 

Dollarization of Iraq was sped up with less monies being smuggled out. 

It is my contention that another 2 trillion dinars were absorbed through the auctions, and the CBI requirement that all banks participating in the auctions, turn over all their stocks of dinars to the CBI.  Walla – – 1 trillion or less best guestimate.   tlar

Rockstar   Thanks for that great analysis Tlar. I had a guess of 1.2-1.4 Trillion left in circulation inside Iraq but I like your number better!

Tlar    Rockstar, my guess is most likely faulty and yours could certainly be more accurate than mine.  Either way I can’t see them having as much as 2 trillion left circulating. 

 Many still don’t understand that the dinar they hold is not circulating and neither is any dinar held in any bank outside of Iraq. 

 I find it interesting that dealers around the world had no trouble getting dinar after Shabibi had put into regulations that nobody sell dinar to these guys and instituted rules against taking large sums of dinar out of the country.  

It just goes to show you that under the Maliki government everyone was on the take and the borders leaked like sieves.   

It seems the only cash ever stopped at the border was the $250 million Maliki’s aid was trying to smuggle out, which told me that the border guard did not get his normal bribe and arrested the guy. 

Abadi has done a great job in turning the country in the right direction.  It is my belief we will see currency change shortly or the country will financially implode.  tlar

www.currencychatter.com