[ltr] 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 MilitaryCentral 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 BankWhen 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 KRGEarlier 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 2016The 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 2016It 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.pdfI 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 To unsubscribe or change subscriber options visit: http://www.aweber.com/z/r/?jCysjIwcnLSsDCwMrKyMTLRGtMyMHCxMDJxs Attachments area Preview YouTube video IQD Devaluation IMF Says [/ltr]
https://www.emiratesnbd.com/plugins/FinanceManagement/AnnualReport/AnnualEnglish/EmiratesNBD_Annual%20Report_2015.pdf[/ltr] |
4 posters
From American Contractor, says dinar will devalue
Lobo- Moderator
- Posts : 28411
Join date : 2013-01-12
fonz1951- Interacting Investor
- Posts : 2666
Join date : 2012-12-19
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- Interacting Investor
- Posts : 7463
Join date : 2012-12-19
I don't like his articles.....
Talon777- Getting It Investor
- Posts : 72
Join date : 2012-12-26
Age : 53
Location : North Carolina
Another person with so called secret intel. I always think of American Contractor as Shotgun Susie Jr.
» Iraqi Dinar to Devalue?
» IMF says no reason to devalue Iraqi Dinar
» Sadr denounces Central Bank as corrupt, as Iraq looks to devalue dinar
» The Ministry of Finance: The decision to devalue the dinar was part of a package of reforms
» u-tube 11/13/23 American Delegation-Iraqi Dinar News Today / Dinar Rv Update
» IMF says no reason to devalue Iraqi Dinar
» Sadr denounces Central Bank as corrupt, as Iraq looks to devalue dinar
» The Ministry of Finance: The decision to devalue the dinar was part of a package of reforms
» u-tube 11/13/23 American Delegation-Iraqi Dinar News Today / Dinar Rv Update
Today at 7:52 am by Rocky
» utube 3/28/24 MM&C Iraqi Dinar - IQD Update - SWIFT - Purchasing Power - Urban Renaissance - Releas
Today at 7:51 am by Rocky
» Al-Mandalawi: Iraq is witnessing competition between major companies...and the House of Representati
Today at 7:49 am by Rocky
» The President of the Republic stresses the importance of the role of programmers in developing the w
Today at 7:46 am by Rocky
» The Minister of Industry and Minerals follows up on the technical and production performance of the
Today at 7:45 am by Rocky
» The Minister of Finance is following up on the field the progress of the newly implemented ASYCUDA s
Today at 7:44 am by Rocky
» Statistics: There are more than 15 million bank accounts in Iraq
Today at 7:42 am by Rocky
» Representative: One paragraph hinders the passage of a general amnesty within the House of Represent
Today at 7:37 am by Rocky
» Parliamentary Finance: “The draft federal budget law will be devoid of new job grades.”
Today at 7:36 am by Rocky
» Parliamentary action to resolve the fate of “food security contracts” in 15 governorates
Today at 7:35 am by Rocky
» 300 factories turned into "iron scrap" in Diyala
Today at 7:34 am by Rocky
» A deputy expects the dollar exchange rate to reach 140 Iraqi dinars
Today at 7:32 am by Rocky
» Al-Yasiri: The American administration is working hard to destroy the Iraqi economy
Today at 7:31 am by Rocky
» Infographic: The highest annual salaries of leaders of Arab countries
Today at 7:30 am by Rocky
» Communications announces that the electronic signature project has reached advanced stages
Today at 7:29 am by Rocky
» Parliamentary Integrity presents a file related to Kuwaiti violations of Iraqi oil
Today at 7:27 am by Rocky
» Parliamentary move to include amendments to Parliament’s internal regulations on the agenda (documen
Today at 7:25 am by Rocky
» The Iraqi President urges the Minister of Finance to expedite the payment of salaries to the Kurdist
Today at 7:23 am by Rocky
» Central Bank of Iraq sales exceeded $251 million at today’s auction
Today at 7:21 am by Rocky
» The Foreign Minister questions the "Iraqi resistance" attacks against Israel: the other side did not
Today at 7:20 am by Rocky
» The Minister of Labor announces progress in the electronic payment system
Today at 7:17 am by Rocky
» Interior Ministry: For the first time, we controlled the smuggling of petroleum derivatives by 98 pe
Today at 7:16 am by Rocky
» International companies offer offers to invest in the Dhi Qar marshes.. What distinguishes them?
Today at 7:15 am by Rocky
» “Tough” comments on interest rates raise the dollar globally
Today at 7:14 am by Rocky
» Iraq is the fifth largest oil supplier to South Korea in a month
Today at 7:12 am by Rocky
» Recovering more than 100 billion as a result of more than 200,000 employees on social welfare
Today at 7:11 am by Rocky
» The Sudanese consultant announces the completion of Baghdad Metro track designs
Today at 7:08 am by Rocky
» Al-Sudani stresses ending the problem of triple-shift schools
Today at 7:07 am by Rocky
» Iraq begins building two new tankers to transport petroleum products
Today at 7:06 am by Rocky
» Forming a council for “competition and preventing monopoly”
Today at 7:04 am by Rocky
» Features of an Iraqi-Turkish agreement regarding the status of the Kurdistan Workers’ Party
Today at 7:02 am by Rocky
» {Al-Buzrajiya} between the hammer of fraud and the power of the owners
Today at 7:01 am by Rocky
» Ministry of Oil: The gas sector is witnessing great development
Today at 6:59 am by Rocky
» An agreement with Britain in the field of securities
Today at 6:58 am by Rocky
» Discussions between Baghdad and Ankara to open a new port
Today at 6:57 am by Rocky
» Trade: About 11 million citizens updated their new card information
Today at 6:56 am by Rocky
» Electronic payment is sustainable growth
Today at 6:55 am by Rocky
» Experts: Iraq qualifies to be an important tourist country
Today at 6:54 am by Rocky
» Amending the Health Professions Law “robs” scientists of the central appointment 3 years after it wa
Today at 5:20 am by Rocky
» Is the “blessings package” that Erbil paid to the citizens of Kurdistan related to the elections?
Today at 5:19 am by Rocky
» Exceeded 5,000 projects.. Allocating 10 trillion dinars to support governorate reconstruction plans
Today at 5:18 am by Rocky
» “His need no longer exists.” Parliamentary Finance confirms the necessity of returning the retiremen
Today at 5:17 am by Rocky
» To communicate with the bases... 12 directives from Al-Sadr, including blocking numbers for non-gove
Today at 5:15 am by Rocky
» In an interview with "Baghdad Today"... an Iranian researcher reveals the importance of Haniyeh's vi
Today at 5:14 am by Rocky
» After it was 63 trillion in 2023... the 2024 budget deficit will rise to 80 trillion dinars
Today at 5:13 am by Rocky
» Parliament reveals the date of the first evaluation of the governors and determines the party respon
Today at 5:11 am by Rocky
» The President of the Republic informs Al-Araji and Al-Basri: Momentum must be mobilized to eliminate
Today at 5:10 am by Rocky
» Can the Federal Court sue others? A legal clarification of its response mechanism to abuse
Today at 5:09 am by Rocky
» Despite promises to soon stop burning gas.. What is the secret behind Iraq renewing the Iranian gas
Today at 5:07 am by Rocky
» Advisor to Al-Sudani: The dollar is on the way to further decline, and 70% of Iraqi traders have ent
Today at 5:06 am by Rocky
» Iraq exported more than 99 million barrels of oil last February
Today at 5:04 am by Rocky
» Barzani “gives good news” to Kurdistan employees: salaries, land, and loan exemptions
Today at 5:03 am by Rocky
» Alia Nassif: Nour Zuhair returned to the port of Umm Qasr to make deals.. An influential Shiite forc
Today at 5:02 am by Rocky
» The Prime Minister announces the movement of nearly 500 stalled projects
Today at 5:00 am by Rocky
» A government strategy to enhance investments.. Iraq is on the verge of a new era of economic develop
Today at 4:59 am by Rocky
» Ranging between 20% and 50%.. The Kurdistan government decides to reduce service fees, customs dutie
Today at 4:58 am by Rocky
» Al-Sudani: The reform approach in the security services is an integral part of reform in other secto
Today at 4:56 am by Rocky
» Everyone in Iraq wants the Sudanese visit to Washington to be successful, even the factions!
Today at 4:55 am by Rocky
» Sources and experts expect the agenda.. in his bag is the Baghdad dollar and the factions’ truce, bu
Today at 4:54 am by Rocky
» The decision to raise gasoline prices arouses the ire of drivers...a reminder of the large demonstra
Today at 4:53 am by Rocky
» Parliamentary services: 3 important hospitals in Baghdad will enter service at the end of the year
Today at 4:52 am by Rocky
» Iraq signs a contract to supply Iranian gas for a period of five years
Today at 4:50 am by Rocky
» Parliament adds a voting paragraph on amending the Penal Code to its agenda
Today at 4:49 am by Rocky
» His political advisor: We are not afraid of Sudanese entering the elections alone
Today at 4:48 am by Rocky
» Parliamentary services explain the reasons for the rise in real estate prices in Baghdad
Today at 4:46 am by Rocky
» Attia, criticizing the government's decisions: "The citizen's feathers will be ruffled without servi
Today at 4:45 am by Rocky
» Parliamentary Communications: Zain Iraq and Asiacell did not pay their debts
Today at 4:44 am by Rocky
» The Governor of Karbala announces the imminent establishment of the largest industrial city in the c
Today at 4:43 am by Rocky
» A government determination to end the issue of displaced persons in the middle of this year
Today at 4:42 am by Rocky
» Iraq buys gas from Kurdistan to generate electricity
Today at 4:41 am by Rocky
» Parliamentary signatures to include an amendment to the internal regulations to decide the choice of
Today at 4:40 am by Rocky
» In Basra.. a demonstration against foreign workers in Iraqi companies (video)
Today at 4:38 am by Rocky
» Al-Samarrai: Presidency of Parliament is an entitlement to the constituents, and calling it a “frame
Today at 4:36 am by Rocky
» Electronic food supplies in 6 governorates... covering 11 million Iraqis and “writing off” about 700
Today at 4:34 am by Rocky
» Corruption of the Ministry of Transport.. Representatives express their surprise at the minister’s s
Today at 4:32 am by Rocky
» The biggest supporter of the invasion of Iraq.. The death of former US Senator Joe Lieberman
Today at 4:31 am by Rocky
» Iraq is ranked “late.” A list of the most and least safe Arab countries for women
Today at 4:30 am by Rocky
» The Council of Ministers exempts the Gulf Interconnection Authority from guarantee fees: it is a gov
Yesterday at 7:48 am by Rocky
» The Iraqi government raises the size of the 2024 budget, and Parliament is “surprised”
Yesterday at 7:46 am by Rocky
» Popular Movement: We have many economic options away from American hegemony
Yesterday at 7:42 am by Rocky
» The Oil Parliament stresses the need to transfer part of the revenues to the producing governorates
Yesterday at 7:41 am by Rocky
» It will cover 14 regions in eastern Iraq.. A deputy reveals the “border electricity” project
Yesterday at 7:40 am by Rocky
» Experts Warn Mass Migration Threatens US Food Security
Yesterday at 7:37 am by Bama Diva
» Al-Fateh: America occupies Iraq through agreements
Yesterday at 7:37 am by Rocky
» Anger in Iraq over a "sudden decision"... and a reminder of a "general strike" that paralyzed the co
Yesterday at 7:34 am by Rocky
» Parliamentary Committee: Parliament is discussing today a decision that “disturbed” the Iraqis
Yesterday at 7:33 am by Rocky
» Ministry of Electricity: Our production will reach 27 thousand megawatts by May
Yesterday at 7:31 am by Rocky
» Diagnosing the “most important” problems in the oil file between Baghdad and Erbil.. What is the rel
Yesterday at 7:30 am by Rocky
» The Iraqi Fiqh Academy and the Sunni Endowment issue a fatwa to pay Zakat al-Fitr
Yesterday at 7:28 am by Rocky
» The National Bank of Iraq continues its digital transformation by launching its new banking system a
Yesterday at 7:26 am by Rocky
» Parliamentary Investment and the Central Bank are discussing the housing initiative
Yesterday at 7:25 am by Rocky
» The Prime Minister announces the restart of 500 suspended projects
Yesterday at 7:23 am by Rocky
» Al-Barti assesses the region's employees: Your salaries are insured and will be paid after resettlem
Yesterday at 7:21 am by Rocky
» Iraqi-American discussions in anticipation of the Sudanese visit
Yesterday at 7:20 am by Rocky
» Iraq and Turkey hold meetings in Ankara to discuss technical issues related to the development road
Yesterday at 7:17 am by Rocky
» A government parliamentary agreement to support budget revenues and governorate allocations for inve
Yesterday at 7:16 am by Rocky
» Oil: The gas sector is witnessing great development
Yesterday at 7:15 am by Rocky
» A Kurdish-French agreement to develop trade and economic relations
Yesterday at 7:13 am by Rocky
» Exchange companies in Mosul demand that they be entered into the currency selling window
Yesterday at 7:12 am by Rocky