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From American Contractor, says dinar will devalue

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Lobo
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From American Contractor, says dinar will devalue

Post by Lobo on Sun May 08, 2016 3:29 pm

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I sent this to someone who is someone who follows this closely to see what his thoughts are.

I would like you to give your thoughts on this information from the American Contractor.  He includes information that he says the dinar will devalue - I have included a screenshot from a report from the IMF but I can't find it on the IMF site, so it must be one of those that is not for public information.  He said it was published January 15? 2016.  I also give a link to the EMIRATESNBD which he says talks about the devalue in 2015.
https://www.emiratesnbd.com/plugins/FinanceManagement/AnnualReport/AnnualEnglish/EmiratesNBD_Annual%20Report_2015.pdf

American Contractor

Iraqi Dinar Economy Military


Central Bank of Iraq has New plans for the Iraqi Dinar in 2016

December 26, 2015 By American Contractor 


Central Bank of Iraq has New plans for the Iraqi Dinar in 2016
There are several websites that one can go to get information about the Iraqi dinar. Before you begin, you should have an understanding and knowledge of what is happening with the Iraqi dinar currency and the Central Bank of Iraq (or better known as the CBI.)
 

Iraq Military Operations and the Central Bank

When military operations first began in Iraq, in March 2003, there was no set plan in play for the Iraqi economy. The Coalition Provisional Authority (CPA), along with the Iraqi interim government, created a new Iraqi dinar currency on 15 October 2003 and ended on 15 January 2004. The Iraqi government plan was to distribute 4.5 trillion new Iraqi dinars in a one for one exchange throughout the country. The money supply has increased to about 40 trillion banknotes on deposit and in circulation since 2004. You can retrieve this information directly from the CBI website.
 

Iraq Central Bank sends a courier to the KRG

Earlier this month, the Central Bank of Iraq (CBI) made an announcement that it would be cutting all ties to the local Central Bank branches in Erbil and Sulaimaniyeh. When the CBI made the decision it made sure that the Kurdistan Regional Government (KRG) understood what the Central bank was saying. The CBI sent a special courier to the KRG government who caught a late flight out of the Baghdad International Airport (BIAP) to Erbil. Upon arrival, he gave the letter to an unidentified official waiting at the KRG government office. The CBI cut all administrative, organizational and financial ties with both branches. The CBI courier had a few more points as well. The Erbil and Sulaymaniyah branch would now report to the Finance Ministry of the Kurdistan Regional Government. The Central Bank no longer recognizes the Iraqi dinars and U.S. Dollars in deposits at the two branches. After the Central Bank courier had delivered the news, KRG officials set up meetings on how they were going to move forward without any support from the Baghdad Central Bank. The news travelled fast. Every local and foreign banker who had deposits in both of those branches were scrambling to think of the best way to get their deposits out. This was before the KRG could come up with a scheme to keep their deposits a little longer. The KRG is three months in arrears and deeply in debt. The Turkish bankers thought that if they had any problems getting their deposit back, maybe they could ask the Turkish military positioned in northern Iraq to assist them.

New capital requirements for private banks deadline of June 2016

The local Baghdad bankers are always in the know compared to other banks outside of Baghdad. The private bankers in Baghdad learned that the Central bank would be imposing new capital requirements. The new amounts will be so large that you could possibly see banks start closing their doors. The last day for the increase in capital requirements will be June 2016. The Central Bank will be making the announcement soon.
 

Iraqi dinar to devalue in 2016

It is getting very complex and stressful for the Central Banking staff. The signs are there when you see the top economic advisor to the Iraq, Prime Minister Mr. Mudher Saleh, this week call a devaluation of the Iraqi dinar an “adjustment.” Mr. Saleh worked under Dr. Sinan Al-Shabibi, the former Central Bank governor, and knew that Dr. Shabibi would have called the recent change a devaluation. Or possibly it was a deliberate downward adjustment. Mr. Saleh is still disgruntled that Dr. Shabibi left him in Baghdad (since Nov 2012) while he (Shabibi) continues to live the good life in Switzerland.
The Iraqi Prime Minister, Haider al-Abadi, recently just returned from an important meeting with the Central Bank and other government finance officials. The meeting was to discuss what to do about the weak Iraqi dinar currency in 2016. Al-Abadi is not pleased with the status of the country’s very weak currency. The people are exchanging dinar to the dollars daily. The government officials and the CBI banking staff know that they will not be able to defend the currency peg to the U.S. dollar. A bank official stood up in the meeting and advised everyone in the meeting to inform PM al-Abadi of the 2016 plan. The daily currency auctions are creating a lot of wealth for people in and out of the government. The currency auctions are cashing out about $180 million dollars or more a day. If the foreign reserves are $58 billion dollars, it won’t take long to deplete the foreign exchange reserves. The banking official at the meeting was very forthright in his reporting. If the currency auctions were totaling $5 billion per month, the foreign reserves would be gone in 12 months. The CBI is selling dollars as fast as they can during the auctions, and its common knowledge.

The banks in Dubai are fully aware of the devaluation that came in December 2015. They reported it in their banking reports in August 2015.

https://www.emiratesnbd.com/plugins/FinanceManagement/AnnualReport/AnnualEnglish/EmiratesNBD_Annual%20Report_2015.pdf
I am not on a secure server so this report will not pull up for me.


May 7, 2016 received by the American Contractor


Hello,

It has been a long time since you have heard from
the American Contractor. I have published a video
about the International Monetary Fund (IMF).
You should take a moment and watch it. You will
learn something I am sure of it.


MUST WATCH SHOWS AN IMF ART. PG 11, FOOTNOTE 11 - screenshot





https://www.youtube.com/watch?v=FhikpwfSbqs

If you like to hear more please send me a comment
on the video in the comment section on YouTube.
Or you can send me an email at
Email: ac@americancontractor.com

Hope all is well with all my supporters and
remember if you want to hear more about Iraq and
what is happening just let me know.

The Iraqi dinar gurus do not have the contacts or
the ability to keep you informed of what is
really happening in Iraq.

Let me know if you ant to hear more from the
American Contractor.

Thanks,

AC


Watch my Latest Video: Click on the
link below.
https://www.youtube.com/watch?v=FhikpwfSbqs


Email: ac@americancontractor.com
American Contractor


1960 Madison St. STE J #175, Clarksville, TN 37043

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fonz1951
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Re: From American Contractor, says dinar will devalue

Post by fonz1951 on Sun May 08, 2016 5:10 pm

have read quite a bit of american contractors stuff and am not too awfully impressed with any of it so far. i don't remember the dinar de valuing in dec. 2015, may be wrong , but it seems to me like it has held pretty steady for quite some time now. if this guy or girl knows so much,then why is it that they only put articles on here occaisonally?

weslin3
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Re: From American Contractor, says dinar will devalue

Post by weslin3 on Sun May 08, 2016 8:56 pm

I don't like his articles..... lol!

Talon777
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Re: From American Contractor, says dinar will devalue

Post by Talon777 on Mon May 09, 2016 2:22 am

Another person with so called secret intel. I always think of American Contractor as Shotgun Susie Jr.

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Re: From American Contractor, says dinar will devalue

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