​The Iraqi Dinar Exchange Rate Options

​The Iraqi Dinar Exchange Rate Options
December 1, 2015 in the media center, articles comments on the Iraqi dinar exchange rate options closed
 
In light of the suffocating financial distress taking place in the Iraqi economy because of the large decline in oil prices, and experts concerned to discuss the most appropriate option to determine the dinar exchange rate.
 
The Iraqi parliament discussed before the possibility of lowering the dinar-dollar exchange rate by 10 percent to 1300 dinars to provide the general budget of 5 trillion dinars ($ 4.2 billion), or down 20 percent to 1400 dinars to provide nine trillion dinars.
 
There is no doubt that reducing the rate of the dinar was any additional resources will provide the public budget because it will increase the amount of the Iraqi dinar, which you get by the Ministry of money in exchange for the replacement of its revenue from oil or foreign loans in dollars with the Central Bank.

 But artificial way to increase government resources at the expense of citizens. Valmtdharr is normal especially those with limited income citizens will drop as the purchasing power of their incomes, especially prices of imported goods, as creditors will be affected in the local currency, including the Iraqi government bondholders at home.

Almost adoption of Iraq entirely on oil revenues and the weakness of other resources as commodities and services, excluding oil, or the existence of financial investments abroad or large foreign reserves, and the high cost of external borrowing, are all indicators to a lack of available to address the problem of the current lack of government resources from foreign exchange options.

This makes cut spending on the one hand and try to increase some direct taxes and fees types and the issuance of treasury bonds in the local market solutions are inevitable.

Anyone who has followed the march of the Iraqi dinar exchange rate when it was equal to $ 3.3 for before the start of the Iraq war - Iran until it reached 3000 dinars to the dollar, during the recent years of economic blockade, ie, from 1990 to 2003, he realizes that the problem simply lies in the difference between the width dollar demand the one hand, and between the supply and demand for the dinar on the other hand.
 
 It is a simple equation of price control not only the currency, but all kinds of goods and services. So if it is difficult to state control to one end of the equation have to control the second party to ensure that the incomes of the exchange rate in chaos.

When it was Iraq's resources from limited oil by the First Amendment of oil prices in 1973, he hired the law of the currency, which is a remnant of the gold standard, and is supposed to cover 70 percent of exporting gold and foreign currencies, currency, to control the amount of display dinar through government spending.
 
Because of the Iraqi - Iranian war abolished the currency law and disturbed the balance between the supply and demand of foreign exchange as a result of the increased military and civilian government spending.
 
The government allowed the private sector to import goods from its resources and sell prices are not subject to its control.

​Thus, there are two prices has become the exchange: official he keeps to $ 3.3 and is used for official expenses, and parallel is determined by the relationship between the foreign currency supply and demand. And the expansion of much difference between the two prices after the imposition of the economic embargo on Iraq in 1990 rose parallel to 3,000 dinars sometimes.

After the occupation and again allowing the export of Iraqi oil and the liberalization of deposits frozen, it was expected that the reform of Iraq hereby withdraw cash surplus banknotes from circulation.
 
 But he used the daily currency auction which specific amounts of dollar sold to the banks and the private sector to meet domestic demand for foreign currency, especially for the purposes of importation.
 
And it resulted in the continued increase in oil revenues to a gradual improvement in the exchange rate even reached 1220 dinars to the dollar.
 
Many politicians and technicians and that is the daily currency auction way to smuggle the dollar by private banks under the pretext of import. And increased their criticism in the light of the current financial crisis.
 
The question addressed by concerned now in Iraq is: Do I have to continue in the daily currency auction, despite accusations to the auction? Or it should halt its work and resort to other means if it becomes free and purchased the process of selling the dollar without restrictions as some suggest?
 
The choice of the appropriate exchange for any state-minute process of price and related economic and financial situation of the State Economic and its ideology.

The state that choose full flotation of its currency and make it sell the currency and buy Harin and without restrictions are usually powerful developed economies that have sources of important and multiple foreign currency and be their currencies of importance in international trade and investment flows and have large reserves of an international weight currencies.

The countries that demonstrate their currencies in a foreign currency and one as dollar or a basket of currencies, Felthafez at this price in front of her two options: first, to have large reserves of foreign currency and gold to enable them to intervene to support the currency price installer when necessary, eg the Gulf Cooperation Council (GCC).
 
And second, to maintain the exchange rate through the management of this price by the monetary authority that affect the factors that determine the demand for foreign currency. This is what Iraq was doing before the first oil boom.

As in Iraq, the government does not have an official rate of the dinar against the dollar or a basket of currencies. The old and the price is no longer $ 3.3 Mstamla any type of trading, even though he has not been formally repealed.
 
Accordingly, and in light of the limited resources currently of foreign currency and the difficulty expanding beyond oil resources, it is imperative that manages the State the current exchange rate through the development of the central bank balance of foreign exchange determines the share of each paragraph of imports of goods and services and transfers without charge and others.
 
 And thus can maintain the stability of the current price on the one hand, and restricting expenditure in foreign currency limits of available resources on the other hand, to become favorable conditions for monetary reform and the adoption of an appropriate official exchange rate.

Intelligent loyal Khalidi
Citing the newspaper "Life

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Why The IMF’s “Historic” Decision About China Is Irrelevant

Sovereign Man   Notes From The Field  By Simon Black 
​
December 1, 2015   Santiago, Chile
 
Why The IMF’s “Historic” Decision About China Is Irrelevant
 
They called it a “historic moment in international finance”.
 
And so with great fanfare, the International Monetary Fund (IMF) announced yesterday that they would be including China’s renminbi in the basket of currencies that comprise their institutional monetary unit, the SDR.
 
The IMF invented the SDR back in 1969 to be used as a foreign exchange reserve held by governments and central banks.
 ~~~

Now, the SDR is nothing fancy. It’s really only something that economists and central bankers fawn over, with no real impact on anyone else.
 
Even the IMF considers the SDR’s role in international financial markets to be “insignificant”.
 
But that’s not all that makes the IMFs decision completely irrelevant.
 
For starters, just look at how they reconfigured the percentage weights of other currencies in the SDR basket to make room for the renminbi.
 
The British pound’s weight in the SDR will fall from 11% to 8%, the Japanese Yen from 9% to 8%, the Euro from 37% to 31%.
 
Conspicuously absent from this list of demotions is the United States dollar, which maintains a rock-solid 42% weighting.
 
In doing this, the IMF proves itself to be nothing more than a lapdog of the US.
 
More importantly, who cares about the SDR?
 
The market has already been rapidly adopting the renminbi for years.
 
It is today already the fourth most widely used currency in all international payments. And the renminbi ranks second for global issuances in letters of credit.
 
This means that for international trade, especially in Asia, renminbi use is exploding.
 
Everyone is on board this train. Everyone except the United States.
 
The US dollar has been the dominant reserve currency since the end of WWII, on terms that were dictated by the US government practically by gunpoint.
 
And in the decades since, they have continually and viciously abused this privilege, violating the trust of the rest of the world.
 
It’s no wonder why there is now so much demand for an alternative.
 
This has happened so many times throughout history. Dominant reserve currencies come and go.
 
A thousand years ago, the Byzantine solidus was the dominant reserve currency in the world. But people lost confidence in it after the solidus was continually debased.
 
So they sought an alternative in the Venetian gold ducat. This has happened again and again.
 
A reserve currency is like a language. People around the world, from Bali to Bangladesh, learn English, simply because so many other people use it.
 
At this point in time, English is widely accepted as the common international language.
 
But that too is not permanent.
 
Greek at one point was the dominant language. Then Latin. Eventually French. And now English.
 
Just as it is now becoming more commonplace to learn Chinese, so too is it becoming commonplace for banks, investment funds, governments, and central banks to transact in renminbi.
 
Multinational corporations are issuing renminbi-denominated bonds. International commodities exchanges are launching renminbi-denominated contracts.
 
And even the Brits and the Canadians are vying to be major international renminbi clearing centers.
 
This is absolutely happening, and the dollars days of denominating the global financial system are dwindling.
 
The fundamentals are clear. There’s too much debt. There’s too much manipulation. The US central bank is nearly insolvent.
 
It is foolish to believe that the US dollar is going to last indefinitely.
 
What’s really interesting, though, is that China is also in bad shape.
 
They have a looming debt problem, credit crisis, and a financial morass that could turn into a major depression.
 
So while the dollar may be in its twilight, the real change we’ll see is the financial system itself.
 
Today, unelected bureaucrats and central bankers conjure money out of thin air and manipulate asset prices in their sole discretion.
 
OK, maybe three centuries years ago when most of the world was illiterate and few people traveled more than ten miles from their homes, this might have been an understandable way to set up a financial system.
 
But today? Give me a break. 

This system is so outdated that the head of the IMF might as well have gone to her press conference by horse and buggy.
 
All the technology already exists to make the overlords of our financial system totally irrelevant.
 
And what’s even more exciting is that they know it.
 
The Bank for International Settlements, which can be thought of as the central bank of central banks, released a report last week saying that cryptocurrencies and emerging financial technologies essentially make them an endangered species.
 
This system is changing.
 
Whether you like it or not, whether you realize it or not, and whether you’re prepared or not-- it’s happening.
 
You can either have a front-row seat to enjoy the show and benefit from these developments, or you can choose to do nothing and become another victim of history.
 
But make no mistake, it’s happening. And looking back, it’s going to seem obvious.
 
Until tomorrow,  Simon Black  Founder, SovereignMan.com

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More News, Rumors, and Opinions Late Tuesday Morning 12-1-15

KTFA:

Walkingstick:  BRICS bank to begin borrowing in yuan

Published time: 1 Dec, 2015 09:34

The BRICS New Development Bank (NDB) could start operations by borrowing in the Chinese currency, according to the bank’s Vice President Vladimir Kazbekov.
He says the bank will focus on loans in the national currencies of the bank’s potential customers.

“Considering the stability of the Chinese currency and the scale of the Chinese debt market, I think that one of the first steps in providing the New Development Bank with funds may be entering the Chinese market to borrow in yuan," Kazbekov said on Tuesday at the opening of a BRICS media summit in Beijing.
....

On Monday, the Chinese yuan was included in the IMF Special Drawing Rights (SDR) joining the US dollar, euro, British pound and the Japanese yen.

Kazbekov said the NDB is examining ways of entering the financial markets of other BRICS members, Brazil, Russia, India and South Africa.

"We want to find new flexible instruments of lending, to significantly reduce the time to consider a loan, and try to actively use the model of private-public partnership," he added.

There might be a lack of resources for long-term projects without the active attraction of private capital, according to the NDB Vice President.

NDB was established by the BRICS countries Brazil, Russia, India, China and South Africa in 2014. Its main goal is to promote sustainable development projects within the BRICS complementing the World Bank. In July the bank opened operations in Shanghai with start-up capital of $50 billion.

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JJonesmx:  The first draft amendment to the law the sale and rental of state funds No. (21) for the year 2013

11/30/2015 16:34

Council of Ministers decided to approve the first draft amendment to the law the sale and rental of state funds No. (21) for the year 2013, the auditor of the State Council, and forwarded to the House of Representatives, according to the provisions of Articles (61 / I and item 80 / item II) of the Constitution.

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Walkingstick:  Kurdistan imported 46 tons of gold during the past nine months

04:59:52 2015-12-01 | (Voice of Iraq) - Twilight News official in the Kurdistan Regional Government said that the region imported during the past nine months about 46 thousand tons of gold from abroad, noting that the Arab Emirates and Turkey comes at the forefront of exporting gold states to Kurdistan.

The standardization and quality control of gold Director ornaments in the province Bakr Aziz said in remarks told Anatolian and followed up Twilight News, said the past nine months of this year saw import about 46 000 tons of gold to the region, adding that 16 thousand and 347 kg of which responded to Arbil and 28 thousand 224 kilograms other to Sulaymaniyah in Dohuk imported 983 kilograms of gold. Aziz said that the 1500 vacation formulation given in the provinces of the region in addition to the 200 maintenance workshop and industry gold ornaments.

And on the comparable imported from gold quantities of Kurdistan to the same period last year, said last year saw the import of 77 779 kg of gold, he is stressing that the UAE is at the forefront of gold exporting countries of the region and followed by Turkey. Add Comment

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Walkingstick:  BY REQUEST....SNIPPET:

IMF’s Executive Board Completes Review of SDR Basket, Includes Chinese Renminbi
Press Release No. 15/540

November 30, 2015

The Executive Board of the International Monetary Fund (IMF) today completed the regular five-yearly review of the basket of currencies that make up the Special Drawing Right (SDR). A key focus of the Board review was whether the Chinese renminbi (RMB) met the existing criteria to be included in the basket.

The Board today decided that the RMB met all existing criteria and, effective October 1, 2016 the RMB is determined to be a freely usable currency and will be included in the SDR basket as a fifth currency, along with the U.S. dollar, the euro, the Japanese yen and the British pound.

Launching the new SDR basket on October 1, 2016 will provide sufficient lead time for the Fund, its members and other SDR users to adjust to these changes.

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JJonesmx:  China Focus: China takes over G20 presidency on Dec.1

Xinhua Finance 2015-12-01 10:05 BEIJINGshare

China will host the 2016 Group of Twenty (G20) summit in the eastern city of Hangzhou from Sept. 4 to 5, and formally take over the presidency of G20 on Dec. 1, 2015.

China's host of the summit shows not only a high degree of trust in China from the international community, but also China's sincere willingness to contribute more to the international community, Chinese President Xi Jinping said in a statement released on Monday night.

The G20 presidency rotates annually among its members. To ensure continuity, the presidency is supported by a "troika" made up of the current, immediate past and next host countries.

In 2015, the members of the "troika" are Turkey, Australia and China. Last year's G20 summit was held in Brisbane, Australia, and this year' s summit was in Antalya, Turkey.

In 2008, the first G20 summit was held in Washington, D.C., the United States, and the group played a key role in response to the global financial crisis.

Xi reviewed the past development of G20 and emphasized that the most valuable thing is the members' partnership, and cooperation will be an inevitable choice for all countries to meet challenges and realize development.

At present, the world economy and international economic cooperation face an important turning point, can we consolidate the foundation of economic recovery and growth to resist risks? Can we grasp the historic opportunity of technology progress and new industry revolution to make the global economy a new round of growth? The answer depends on our common choice and action, Xi said.

At the moment, the international community switches their attention to G20, Xi said, noting that as an important platform where developed countries, developing countries and emerging-market economies have cooperation, G20 plays a crucial role in promoting international economic cooperation.

Xi called on G20 to do more to promote the solution of some extrusive problems of global economy, so as to make efforts to realize the goal of strong, sustainable and balanced growth.

The president called on countries concerned to devote themselves to build an innovative, invigorated, interconnected and inclusive world economy, adding that they will invigorate the global economy and inject impetus to economic growth in relevant countries through innovation-driven development and structural reform.

Xi also called for building community of common destiny, strengthening intercommunication and interconnectivity, enhancing positive economic interaction, improving global economic and financial governance, reducing imbalanced and unequal development, aiming to make people all over the world enjoy benefits equally.

China stands ready to work with relevant countries to implement the consensus reached in the G20 summits of all previous years to initiate new phase of international economic cooperation, Xi said.

U.S. President Barack Obama voiced support for China's presidency, saying that he looks forward to attending the Hangzhou summit, he told Xi on the sidelines of the Antalya summit this month.

Hangzhou, a famous historical and cultural city, is a hub of innovation and vitality. With a population of nearly 8.9 million, it is the capital and largest city of Zhejiang Province. Zhejiang, well-known for its robust private businesses, ranked fourth among the 31 provincial-level regions on the Chinese mainland in terms of GDP in 2014.

Xi worked in Zhejiang between 2002 and 2007 as head of the provincial committee of the Communist Party of China. "I am looking forward to meeting you in Hangzhou in September next year." Xi said

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TNT:

Nomadandboop:  Everyone needs to heed somehing I've been saying many years now, if you're waiting on your ship to come in, make sure you’re not at the airport!!!!

Iko Ward : Just think, a few weeks ago 1080.7 would have had us dancing in the aisles, now it's like really? Pass the salt.

Blueblaze1962:  I am surprised to see forex saying IQD back to 1165.00....that's almost exactly where it was months ago....what the heck does that mean....for the last few weeks we have seen positive movement and now back to where it was?? I'm confused?

Olesailor:  blueblaze the forex is a trailing indicator and it is a trading platform. The players are just bouncing it to make money, and lots of it,

Mtnman:  blueblaze IKo said that is a good thing.....forex aligning with CBI

Iko Ward:  Well that was quick. Back to 1165. Somebody made a quick buck. Let's see what else happens.

Rrrr:  As our lives are about to be changed…. Let’s stop and take a look at the Grand scheme of things. We are here for a reason. The world is emerging from a metamorphosis. We are an important part of this process. We are the butterfly of Love, Compassion and Generosity for the Earth. We will PIF a change to the world…It’s time to change the path of mankind Dinarians. Let us be the Light Workers for all of mankind. This is Truly OUR Moment… Our Place in Time.

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Bita:  Can someone answer this question? Why are banks getting ready for the currency exchange, I thought we were going to exchange centers?

Cloudwalker:  Bita, because it's the banks that run the exchange centers. And when the exchange centers are done serving their purpose, it's the bank locations themselves that will do the exchanging.

TBirdd:  Bita---the Banks handle the funds for their exchg centers -- jmo..

Daz:  EXCHANGE CENTERS ARE STILL BANK AFFILIATED

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Four2tous:  China Pres. visits Zim today=
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Four2atous:  Old news needs restating( Asian currencies get hammered)= http://ift.tt/1MUu607

Four2atous:  Might help our Dong play=
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BuddyDog:  fOREX LOOKS LIKE 6 FLAGS ROLLER COASTER... http://ift.tt/1OatPbP

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Yecooche: New Fed rule limits its crisis bailout powers

WASHINGTON (Reuters) - The Federal Reserve Board on Monday adopted a rule that stops it from bailing out individual companies, a change that Congress demanded after the central bank's controversial decision to help rescue American International Group (AIG.N) and others during the financial crisis.

     The rule is designed to help end the notion of individual financial companies being "too big to fail," by allowing the Fed to rescue only the broader financial system instead of individual companies. Under the rule, the Fed can make emergency loans that can potentially be used by at least five companies, but it cannot make more ad hoc rescues like its efforts to save AIG during the crisis.

     The Fed adopted the rules after the 2010 Dodd-Frank financial reform law required the central bank to curtail emergency loans to individual companies and to insolvent companies. The final regulations define insolvent companies as those that had failed to pay "undisputed debts" in the previous 90 days.

     Fed Governor Daniel Tarullo said during the meeting that the regulations would better balance the Fed's need to respond in a crisis with the concern that managers expecting a bailout in the worst-case scenario would be more likely to take big risks to try to turn their companies around in times of stress.

     There has been "a longstanding tension of confronting moral hazard with wanting to retain flexibility," said Tarullo, the Fed's point person on regulatory issues.

     As the financial crisis intensified in 2008, the Fed invoked its little-used emergency lending power to help stave off the failure of AIG. It also lent money to JPMorgan Chase & Co to help reduce the bank's potential losses from buying Bear Stearns, which was on the brink of collapse.

     The Fed also enacted a series of more general emergency programs, in all providing $710 billion in loans and guarantees to a wide range of financial companies. Those programs were separate from the much larger Fed asset and bond purchases known as quantitative easing.

     In September 2008, the Fed refused to bail out Lehman Brothers, which according to senior officials at the central bank was not solvent and therefore could not be rescued. The investment bank filed for bankruptcy in September 2008, even as other troubled financial companies, such as Citigroup Inc, (C.N) received multiple rescues from the government.

     The Fed's crisis-era loans have been repaid and the guarantees ended, ultimately earning the central bank a net profit of $30 billion, according to a September Congressional Research Service review.

     But critics have argued that the Fed overreached during the crisis, using its emergency authority in ways not clearly foreseen by lawmakers.

     The Fed routinely lends money to banks on a short-term basis to smooth the operations of the financial system, which is part of its mandate. But since the 1930s, it has had the power to lend more broadly in a crisis.

YAHOO Finance

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World's Biggest Pilgrimage Now Underway

World's Biggest Pilgrimage Now Underway, And Why You've Never Heard of it!
 
 Sayed Mahdi al-Modarresi
Faith Leader, Lecturer, Author of "The Lost Testament"
 
It's not the Muslim Hajj, or the Hindu Kumbh Mela.. Known as Arbaeen, it is the world's most populous gathering and you've probably never heard of it!
 
Not only does the congregation exceed the number of visitors to Mecca (by a factor of five, in fact), it is more significant than Kumbh Mela, since the latter is only held every third year.

​In short, Arbaeen dwarfs every other rally on the planet, reaching twenty million last year. That is a staggering %60 of Iraq's entire population, and it is growing year after year.
~~~

Above all, Arbaeen is unique because it takes place against the backdrop of chaotic and dangerous geopolitical scenes. Daesh (aka 'Islamic State') sees the Shia as their mortal enemy, so nothing infuriates the terror group more than the sight of Shia pilgrims gathering for their greatest show of faith.

There's another peculiar feature of Arbaeen. While it is a distinctively Shia spiritual exercise, Sunnis, even Christians, Yazidis, Zoroastrians, and Sabians partake in both the pilgrimage as well as serving of devotees. This is remarkable given the exclusive nature of religious rituals, and it could only mean one thing: people regardless of color or creed see Hussein as a universal, borderless, and meta-religious symbol of freedom and compassion.
 
Why you have never heard of it probably has to do with the fact that the press is concerned more with negative, gory, and sensationalized tabloids, than with positive, inspiring narratives, particularly when it comes to Islam. If a few hundred anti-immigration protestors take to the streets in London and they will make headlines..
 
The same level of airtime is awarded to a pro-democracy march in Hong Kong or an anti-Putin rally in Russia.. But a gathering of twenty million in obstreperous defiance of terror and injustice somehow fails even to make it into the TV news ticker!
 
An unofficial media embargo is imposed on the gargantuan event despite the story having all the critical elements of an eye-catching feature; the staggering numbers, the political significance, the revolutionary message, the tense backdrop, as well as originality.. But when such a story does make it through the editorial axe of major news outlets, it creates shockwaves and touches the most random people.
 
Among the countless individuals inspired by it, is a young Australian man I met several years ago who had converted to Islam. Evidently, no one takes such a life-altering decision lightly, so upon inquiry he told me it all started in 2003.
 
One evening, as he was watching the news only to be drawn by scenes of millions streaming towards a holy city known as Karbala, chanting the name of a man he had never heard of: "Hussein". For the first time in decades, in a globally televised event, the world had caught a glimpse into previously suppressed religious fervor in Iraq.
 
With the Sunni Ba'athist regime toppled, Western viewers were eager to see how Iraqis would respond to a new era free from dictatorship persecution. The 'Republic of Fear' had crumbled and the genie had irreversibly escaped from the bottle. "Where is Karbala, and why is everyone heading in its direction?" he recalls asking himself. "Who is this Hussein who motivates people to defy all the odds and come out to mourn his death fourteen centuries after the fact?"
 
What he witnessed in that 60-second report was especially moving because the imagery was unlike any he had ever seen. A fervent sense of connection turned human pilgrims into iron filings, swarming together other as they drew closer to what could only be described as Hussein's irresistible magnetic field. "If you want to see a living, breathing, lively religion, come to Karbala" he said.
 
How could a man who was killed 1396 years ago be so alive and have such a palpable presence today that he makes millions take up his cause, and view his plight as their own? People are unlikely to be drawn into a dispute (much less one that transpired in ancient times) unless they have a personal interest in the matter.
 
On the other hand, if you felt someone was engaged in a fight over your right to freedom, your prerogative to be treated justly, and your entitlement to a life of dignity, you would feel you had a vested interest and would empathize with him to the point where conversion to his beliefs is not a far-fetched possibility. 

The Ultimate Tragedy
 
Hussein, grandson of the Prophet Muhammad, is revered by Muslims as the "Prince of Martyrs". He was killed in Karbala on a day which became known as Ashura, the tenth day of the Islamic month of Muharram, having refused to pledge allegiance to the corrupt and tyrannical caliph, Yazid.
 
He and his family and companions were surrounded in the desert by an army of 30,000, starved of food and water, then beheaded in the most macabre manner, a graphic tale recounted from pulpits every year since the day he was slain. Their bodies were mutilated.
 
 In the words of the English historian Edward Gibbon: "In a distant age and climate, the tragic scene of the death of Hussein will awaken the sympathy of the coldest reader."

https://www.youtube.com/watch?v=TvQMIffWbCk#t=62
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Shia Muslims have since mourned the death of Hussein, in particular on the days of Ashura, then, forty days later, on Arbaeen. Forty days is the usual length of mourning in many Muslim traditions. This year, Arba'een falls on Friday 12 December.
 
Long Trek
 
I travelled to Karbala, my own ancestral home, to find out for myself why the city is so intoxicating. What I witnessed proved to me that even the widest-angle camera lens is too narrow to capture the spirit of this tumultuous, yet peaceful gathering.
 
An avalanche of men, women and children, but most visibly black-veiled women, fill the eye from one end of the horizon to the other.The crowds were so huge that they caused a blockade for hundreds of miles.
 
The 425 mile distance between the southern port city of Basra and Karbala is a long journey by car, but it's unimaginably arduous on foot. It takes pilgrims a full two weeks to complete the walk.
 
People of all age groups trudge in the scorching sun during the day and in bone-chilling cold at night.
 
They travel across rough terrain, down uneven roads, through terrorist strongholds, and dangerous marshlands. Without even the most basic amenities or travel gear, the pilgrims carry little besides their burning love for "The Master" Hussein. Flags and banners remind them, and the world, of the purpose of their journey:
 
O self, you are worthless after Hussein.
My life and death are one and the same,
So be it if they call me insane!
 
The message recalls an epic recited by Abbas, Hussein's half-brother and trusted lieutenant, who was also killed in the Battle of Karbala in 680 AD while trying to fetch water for his parched nieces and nephews. With security being in the detrimental state that makes Iraq the number one headline in the world, no one doubts that this statement is genuine in every sense.
 
Free lunch.. And dinner, and breakfast!

One part of the pilgrimage which will leave every visitor perplexed is the sight of thousands of tents with makeshift kitchens set up by local villagers who live around the pilgrims' path.
 
The tents (called 'mawkeb') are places where pilgrims get practically everything they need. From fresh meals to eat and a space to rest, to free international phone calls to assure concerned relatives, to baby diapers, to practically every other amenity, free of charge. In fact, pilgrims do not need to carry anything on the 400 mile journey except the clothes they wear.
 
More intriguing is how pilgrims are invited for food and drink. Mawkeb organizers intercept the pilgrims' path to plead with them to accept their offerings, which often includes a full suite of services fit for kings: first you can a foot massage, then you are offered a delicious hot meal, then you are invited to rest while your clothes are washed, ironed, then returned to you after a nap. All complimentary, of course.
 
For some perspective, consider this: In the aftermath of the Haiti earthquake, and with worldwide sympathy and support, the UN World Food Programme announced delivery of half a million meals at the height of its relief efforts..
 
 The United States military, launched Operation Unified Response, bringing together the massive resources of various federal agencies and announced that within five months of the humanitarian catastrophe, 4.9 million meals had been delivered to Haitians.
 
Now compare that with over 50 million meals per day during Arbaeen, equating to about 700 million meals for the duration of the pilgrimage, all financed not by the United Nations or international charities, but by poor laborers and farmers who starve to feed the pilgrims and save up all year round so that visitors are satisfied.
 
Everything, including security is provided mostly by volunteer fighters who have one eye on Daesh, and another on protecting the pilgrim's path. "To know what Islam teaches," says one Mawkeb organizer, "don't look at the actions of a few hundred barbaric terrorists, but the selfless sacrifices exhibited by millions of Arbaeen pilgrims."
 
In fact, Arbaeen should be listed in the Guinness Book of World Records in several categories: biggest annual gathering, longest continuous dining table, largest number of people fed for free, largest group of volunteers serving a single event, all under the imminent threat of suicide bombings.
 
Unmatched Devotion
 
Just looking at the multitudes leaves you breathless. What adds to the spectacle is that, as the security conditions worsen, even more people are motivated to challenge the terrorist threats and march in defiance. Thus, the pilgrimage isn't a mere religious exercise, but a bold statement of resistance.
 
Videos have been posted online showing how a suicide bomber blows himself up in the midst of the pilgrims, only to have the crowds turn out in even greater numbers, chanting in unison:
 
If they sever our legs and hands,
We shall crawl to the Holy Lands!
 
The horrific bomb blasts which occur year-round, mostly targeting Shia pilgrims and taking countless lives, illustrate the dangers facing Shias living in Iraq, and the insecurity that continues to plague the country. Yet the imminent threat of death doesn't seem to deter people - young and old, Iraqis and foreigners - from making the dangerous journey to the holy city.
 
It isn't easy for an outsider to understand what inspires the pilgrims. You see women carrying children in their arms, old men in wheelchairs, people on crutches, and blind seniors holding walking sticks.
I met a father who had travelled all the way from Basra with his disabled boy. The 12-year-old had cerebral palsy and could not walk unassisted. So for a part of the trek the father put the boy's feet on top of his and held him by the armpits as they walked.
 
It is the kind of story out of which Oscar-winning films are made, but it seems Hollywood is more concerned with comic heroes and with real life heroes whose superpower is their courage and commitment.
 
Golden Dome of Hussein
 
Visitors to the shrine of Hussein and his brother Abbas are not driven by emotion alone. They cry be reminded of the atrocious nature of his death, in doing so, they reaffirm their pledge to his ideals.
 
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The first thing that pilgrims do upon reaching his shrine is recite the Ziyara, a sacred text which summarizes the status of Hussein. In it, they begin the address by calling Hussein the "inheritor" of Adam, Noah, Abraham, Moses and Jesus.
 
There is something profound in making this proclamation. It shows that Hussein's message of truth, justice, and love for the oppressed is viewed as an inseparable extension of all divinely-appointed prophets.
 
People go to Karbala not to marvel at the city's landscape - lush with date palms, or to admire the mausoleum's physical beauty, or to shop, be entertained, or to visit ancient historical sites. They go to cry. To mourn and experience the angelic aura of Hussein. They enter the sacred shrine weeping and lamenting the greatest act of sacrifice ever seen.
 
It is as though every person has established a personal relationship with the man they have never seen. They talk to him and call out his name; they grip the housing of his tomb; they kiss the floor leading into the shrine; they touch its walls and doors in the same manner one touches the face of a long-lost friend.
 
It is a picturesque vista of epic proportions. What motivates these people is something that requires an understanding of the character and status of Imam Hussein and the spiritual relationship that those who have come to know him have developed with his living legend.
 
If the world understood Hussein, his message, and his sacrifice, they would begin to understand the ancient roots of Daesh and its credo of death and destruction. It was centuries ago in Karbala that humanity witnessed the genesis of senseless monstrosities, epitomized in the murderers of Hussein.
 
It was pitch black darkness v. Absolute shining light, an exhibition of vice v. a festival of virtue, hence the potent specter of Hussein today. His presence is primordially woven into every facet of their lives. His legend encourages, inspires, and champions change for the better, and no amount of media blackout can extinguish its light.
 
"Who is this Hussein"? For hundreds of millions of his followers, a question this profound, which can cause people to relinquish their religion for another, can be answered only when you have marched to the shrine of Hussein on foot.
 
Follow Sayed Mahdi al-Modarresi on Twitter: http://www.twitter.com/SayedModarresi

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News, Rumors, and Opinions in Dinarland Late Mon.PM/ Early Tues.AM

Note From Dinar Recaps:

We are well aware of many controversies and frustrations swirling through Dinarland today and wish to once again state that our purpose is to post News, Rumors and Opinions Regarding the RV /GCR and monetary policies around the world that could affect that. 

We do not post gossip, speculation, drama and rumors regarding any intel provider or intel site here.  

Dinar Recaps is profoundly grateful for all Intel Providers throughout the years.

They have spent so much of their time, and resources in order to motivate, encourage, and educate all of us here in Dinarland and we think that they all deserve our gratitude and respect. 

Thank you to all Intel Providers one and all, and may all your dreams come true soon.

Thank you~   The Dinar Recaps Team
....

Early Tuesday Morning:

TNT:

Crushr13:  I would think that with China now a part of the world reserve currency mix, that the door would be open for other major currency changes... like our RV.

Drive Shaft:  If they want to save the 4th Quarter ecconomy they need us out there spending !!!!!

Natok:  We have all been told we would hear all kinds of things at the end of this journey. I believe this is what we are seeing and hearing now to break our confidence  in this exchange. We all need to keep our heads on straight. Like AB says, we know more than we think we do. It is now time for us to get control of our own thoughts and ideas and begin using them on our own. We are being weined. Time to take our first steps, so get ready to run!

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Dinar Updates:

Reposted:  Millionday:   THE MOVE NOW IS TO GO FORWARD WITH ALL REFORMS AND SADR REAPPEARS ASKING FOR ABADI TO MOVE FORWARD WITH THEM NOW AS WELL. 

THE REFORMS ARE CONSTITUTIONALLY COMPLIANT -- THE CONSTITUTION GIVES THE RIGHT TO IRAQIS TO FLOURISH AND THE PROMISE OF THE GOV TO MAKE THAT POSSIBLE. 

SO THE MOVE NOW IS ITS DEVELOPMENT AND RELATIONS WITH THE WORLD -- EXPANDING REFORMS AND OF COURSE ACTIVATING THEM THROUGH THE LEGISLATION CALLED FOR AND THE HARD WORK PUT FORTH.

[TIME FOR AN RV TRAIN? NO DATE OR RATE OF COURSE...]  

Millionday:  I DON'T KNOW THE DATE BUT HEAR SOMETHING AROUND THE BEND.

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KTFA:

JJONESMX:  CBI News & Announcements

To / banks approved the exercise of all Islamic banking (Islamic Banking Law No. (43 for 2015))

01.12.2015      http://ift.tt/1ei96fB

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Walkingstick:  The Iraqi dinar exchange rate options

Author: intelligent loyal Khalidi
01-12-2015 03:55 PM

In light of the suffocating financial distress taking place in the Iraqi economy because of the large decline in oil prices, and experts concerned to discuss the most appropriate option to determine the dinar exchange rate. The Iraqi parliament discussed before the possibility of lowering the dinar-dollar exchange rate by 10 percent to 1300 dinars to provide the general budget of 5 trillion dinars ($ 4.2 billion), or down 20 percent to 1400 dinars to provide nine trillion dinars.

There is no doubt that reducing the rate of the dinar was any additional resources will provide the public budget because it will increase the amount of the Iraqi dinar, which you get by the Ministry of money in exchange for the replacement of its revenue from oil or foreign loans in dollars with the Central Bank. But artificial way to increase government resources at the expense of citizens. Valmtdharr is normal especially those with limited income citizens will drop as the purchasing power of their incomes, especially prices of imported goods, as creditors will be affected in the local currency, including the Iraqi government bondholders at home.

Almost adoption of Iraq entirely on oil revenues and the weakness of other resources as commodities and services, excluding oil, or the existence of financial investments abroad or large foreign reserves, and the high cost of external borrowing, are all indicators to a lack of available to address the problem of the current lack of government resources from foreign exchange options. This makes cut spending on the one hand and try to increase some direct taxes and fees types and the issuance of treasury bonds in the local market solutions are inevitable.

Anyone who has followed the march of the Iraqi dinar exchange rate when it was equal to $ 3.3 for before the start of the Iraq war - Iran until it reached 3000 dinars to the dollar, during the recent years of economic blockade, ie, from 1990 to 2003, he realizes that the problem simply lies in the difference between the width dollar demand the one hand, and between the supply and demand for the dinar on the other hand. It is a simple equation of price control not only the currency, but all kinds of goods and services. So if it is difficult to state control to one end of the equation have to control the second party to ensure that the incomes of the exchange rate in chaos.

When it was Iraq's resources from limited oil by the First Amendment of oil prices in 1973, he hired the law of the currency, which is a remnant of the gold standard, and is supposed to cover 70 percent of exporting gold and foreign currencies, currency, to control the amount of display dinar through government spending.

Because of the Iraqi - Iranian war abolished the currency law and disturbed the balance between the supply and demand of foreign exchange as a result of the increased military and civilian government spending.

The government allowed the private sector to import goods from its resources and sell prices are not subject to its control. Thus, there are two prices has become the exchange: official he keeps to $ 3.3 and is used for official expenses, and parallel is determined by the relationship between the foreign currency supply and demand. And the expansion of much difference between the two prices after the imposition of the economic embargo on Iraq in 1990 rose parallel to 3,000 dinars sometimes.

After the occupation and again allowing the export of Iraqi oil and the liberalization of deposits frozen, it was expected that the reform of Iraq hereby withdraw cash surplus banknotes from circulation. But he used the daily currency auction which specific amounts of dollar sold to the banks and the private sector to meet domestic demand for foreign currency, especially for the purposes of importation. And it resulted in the continued increase in oil revenues to a gradual improvement in the exchange rate even reached 1220 dinars to the dollar.

Many politicians and technicians and that is the daily currency auction way to smuggle the dollar by private banks under the pretext of import. And increased their criticism in the light of the current financial crisis. The question addressed by concerned now in Iraq is: Do I have to continue in the daily currency auction, despite accusations to the auction? Or it should halt its work and resort to other means if it becomes free and purchased the process of selling the dollar without restrictions as some suggest?

The choice of the appropriate exchange for any state-minute process of price and related economic and financial situation of the State Economic and its ideology. The state that choose full flotation of its currency and make it sell the currency and buy Harin and without restrictions are usually powerful developed economies that have sources of important and multiple foreign currency and be their currencies of importance in international trade and investment flows and have large reserves of an international weight currencies.

The countries that demonstrate their currencies in a foreign currency and one as dollar or a basket of currencies, Felthafez at this price in front of her two options: first, to have large reserves of foreign currency and gold to enable them to intervene to support the currency price installer when necessary, eg the Gulf Cooperation Council (GCC). And second, to maintain the exchange rate through the management of this price by the monetary authority that affect the factors that determine the demand for foreign currency. This is what Iraq was doing before the first oil boom.

As in Iraq, the government does not have an official rate of the dinar against the dollar or a basket of currencies. The old and the price is no longer $ 3.3 Mstamla any type of trading, even though he has not been formally repealed. Accordingly, and in light of the limited resources currently of foreign currency and the difficulty expanding beyond oil resources, it is imperative that manages the State the current exchange rate through the development of the central bank balance of foreign exchange determines the share of each paragraph of imports of goods and services and transfers without charge and others. And thus can maintain the stability of the current price on the one hand, and restricting expenditure in foreign currency limits of available resources on the other hand, to become favorable conditions for monetary reform and the adoption of an appropriate official exchange rate.

The article expresses the opinion of the author and do not necessarily reflect the viewpoint of Iraq today

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Late Tuesday Night:

TNT:

ALREADY BLESSED :  THINGS MONEY CAN'T BUY - 1. MANNERS 2. MORALS 3. RESPECT 4. CHARACTER 5. COMMON SENSE 6. TRUST 7. PATIENCE 8. CLASS 9. INTEGRITY 10. LOVE

Chapoc:  What's with the bounce of the IQD to 1165 again??

Iko Ward: Chap they are resetting to match the CBI. This is a good thing.

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[xyz] IMF gives China's currency prized reserve asset status   http://ift.tt/1jv7Y1G

[xyz] Federal Reserve approves curb to future 'too big to fail' lending    http://ift.tt/1Hz53Aw

[xyz] Chinese yuan to become global reserve currency    http://ift.tt/1LIjSvD

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Dinar Updates:

Q: [Abadi AND Saleh both told us in Dec of 2013 that the deletion of zeros PROJECT will occur in 2015.] 

Poppy3 :  THAT WAS THEIR TARGET AND THEY ARE VERY CLOSE. WE CAN ONLY PRAY THEY REACH THE END OF THE MUST COMPLETE LIST IN TIME TO MAKE IT.

Poppy3    NOTHING IRAQ HAS DONE FOR 3 MONTHS EVERY MEETING, EVERY DAY, THEY WOULD NOT NEEDED TO DO IF THEY WHERE NOT PREPARING TO RAISE THE RATE OF DINAR AND JOIN THE GLOBAL MARKETS. ...

NOT ONE THING WAS NEEDED EXCEPT TO GO GLOBAL.

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firefly :  NOBODY knows the date but I'm sticking with TIMING!  

Iraq needs to make certain that all the numbers are correct. One glitch  could be disastrous for them and the countries that support them...so yes TIMING.  And IMO the clock is about to strike 12. 

[so timing = when they're good and ready.] 

firefly :  IMO they ARE ready.
 
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Emailed to Recaps:

ZAP:  THE YUAN MADE IT INTO THE BASKET AND THIS IS THE SIGNAL – EVERYTHING WILL CRACK OPEN NOW INCLUDING OUR STUFF – MUCH THANKS – LOVE AND LIGHT – IN OUR SERVICE – ZAP

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KTFA:

KTFA Monday Night Conference Call

Approx. 149 minutes long

The first part is Business Promo and the second part is Dinar/Iraq Intel

PLAYBACK # : 641.715.3639     PIN: 156996#

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