UPDATE From Poppy3

Just a reminder who BIS is in the big skeem of things..TLF

BIS To Accept Additional Deposits From Iraq
Posted on 26 December 2013. Tags: Bank of International Settlements, Central Bank of Iraq

The Central Bank of Iraq announced on Sunday that it has received a memo from the Bank of International Settlements (BIS) in Basel Switzerland announcing that it will accept more deposits from Iraq.
“This procedure will contribute in increasing Iraq’s money revenues after keeping it in a very secure location,” the Central Bank explained.
The BIS is an international organization for central banks aiming to strengthen monetary and financial cooperation worldwide.                                                                           12-31-2013   Intel/Newshound Guru Poppy3   WOW...I GOT PERMISSION TO SHARE SOME INFORMATION WITH YOU...---I heard some SOURCE INFORMATION that said the BIS said last week that they'll use the IQD in their 2014 budget and they are CALLING the IQD an asset. Historically, at an 1166 rate the IQD is not an asset, but a liability. They commented that the BIS wouldn't have made this comment if the RV were not imminent. I have not seen the BIS article statements or comments but I trust the people who have informed me.  [post 1 of 3....stay tuned]

A dinar at .1166 is still an asset, not a liability. Further the BIS does not use a countries currency for it's budget. The Bank of International Settlements serves central banks in their pursuit of monetary and financial stability, to foster international cooperation in those areas and to act as a bank for central banks.
In broad outline, the BIS pursues its mission by:

• promoting discussion and facilitating collaboration among central banks;
  
• supporting dialogue with other authorities that are responsible for promoting financial stability;
  
• conducting research on policy issues confronting central banks and financial supervisory authorities;
  
• acting as a prime counterparty for central banks in their financial transactions; and
  
• serving as an agent or trustee in connection with international financial operations.
  

The value of the IQD will remain at 1166/USD until such time as the CBI decides to adjust it. IT WILL NOT BE ZERO! Last but not least Article 8 compliance does not require the IQD be at the comparable with it's neighbors. Were that the case many countries would not be in compliance.