5-26-2019 Newshound Guru MilitiaMan Article: "Parliamentary efforts to open the file "currency auction" Having the Financial Law in place is nothing new...nor is it new this year per se, as it was enacted 01/13/2019. The key is the amendments were added now, and are enacted. Get the point? The action is about they have to cease the auctions as we know them to protect the new rate, imo...Wow! The one way street is coming to the end. imo...
5-26-2019 Intel Guru RayRen98 Parliament announces that all cabinet positions have been filled including the Interior Minister. Names are not yet disclosed, but reportedly Past PM Abadi asserts that the filled positions are crooked politicians and situations are worsened. All below the poverty line have NOT received their 100,000 dinar as promised. Citizens in baghdad are informing us that no rate changes have appeared yet.
5-25-2019 Newshound Guru future for anyone wondering why i was excited to see the FML passed AKA law of financial administration here is a tidbit on why its important Article quote: "...the Committee is keen to enact the law of financial administration as it gives a complete road map of the financial policy in the country in terms of management of money and cash in the state," pointing out that "the change will raise the exchange rate of the Iraqi dinar against foreign currencies while maintaining the stability of inflation In the country". "The Commission is determined to make these changes during the next phase and not to follow the traditional methods are not appropriate at the moment." question is when is the next phase?
5-25-2019 Newshound Guru larrykn I find it funny people look at one thing to make this happen. I still don't see the cabinet seated, which would be security. I still don't see banking laws getting passed. ...here the thing, there is more then one thing, its a process, but I don't think anyone knows what the final thing is to make them move forward...so I just wait and see...but I do like what we are seeing, they are trying anyway.
5-25-2019 Intel Guru RayRen98 I talked with a banking source this morning, they said:
1. "Treasury did NOT instruct them (the banking staff) to report to work today."
2. "Private invitations to exchange should start on Monday and move rapidly." [Yes, I know it's a holiday]
3. "General exchanges should start this week, maybe as early as Tuesday?"
4. "Retail bank locations (the basic branches) would not be utilized for exchange activity."
5-25-2019 Newshound/Intel Guru Mnt Goat ...we hear new news from the CBI that they are distributing yet more of the 250, 500 and 1000 category notes. WOW! I am excited! ...seems maybe they are moving now slowly and cautiously into the next phase. This move tells us that what they are doing with the electronic banking and elimination of hard currency in circulation of the very large three zero notes is working and emphasis is now all being placed on using the lowest of the already issued lower categories 250, 500 and 1000.
5-25-2019 Newshound/Intel Guru Mnt Goat However, this time the CBI has gone farther and re-issued the 50 dinar notes too along with the 250, 500 and 1000. This has not been done before. If you can remember way back to 2015 timeframe these 50 dinar notes were discontinued because they were not used and so now they have brought them back. But remember under the 1190 rate they are only worth a nickel (five cents USD) USD. So why bring them back now? Why load the banks with them now...?
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