CBI law of Currency Value Revealed...

Patience....The Golden Virtue...by Phoenix3333
http://www.blogtalkradio.com/phoenix3333/2011/07/06/tuesdayupdates
From Phoenix--Official U.S. Government Price for Gold is Only $42.22/oz.
The official Rate of Iraq Dinar it seems...

Article 35 1. Bank notes issued on behalf of the Bank 1/4, 1/2, 1, 5, 10, 25 Dinar Notes -- Is reading this from the NEW banking Law of the CBI
1 - The unit of currency in the Republic of Iraq is the Iraqi dinar, and composed a thousand equal parts, each resort called him (fils).
(From Article 32)
2 - equivalent to the value of one Iraqi dinar is 2.48828 grams of pure gold. (So what are they basing the standard value of gold on?See link below)
(3- they can change said value)
1 Troy oz = 31.10 grams. So at that rate $42.22--1 Iraqi Dinar would be valued at: $3.37-----$42.22 divided by 31.10 = $1.35 --*$1.35 X 2.48828 = $3.37
All contracts have to be done in Iraqi Dinar
http://www.munknee.com/2010/05/beware-official-u-s-government-price-for-gold-is-only-42-22oz/

A few months ago the IMF sold gold to the High Central World Banks and they sold many tons of gold and received a lot of criticism, they sold it at $45.00 per oz--that is the international standard. Iraq must follow their standards...this CBI law was placed on the books by CBI in April 2011

At that standard we would use 45.00 divided by 31.10= 1.44 x 2.48828 = $3.59999

Phoenix used both Standards the U.S. and the IMF....either way we see a $3+ for in country value of Iraq dinar

This repealed the law under the Iraqi Central Bank Law No. 56 of 2004
Part IV
Currency
Article 32

1 - The unit of currency in the Republic of Iraq is the Iraqi dinar, and composed a thousand equal part, each resort called him (fils).
2 - equivalent to the value of the Iraqi dinar (2.48828) grams of pure gold.
3 - may be a presidential decree, on the proposal provided by the Bank to change the value of offsetting referred to in paragraph (2) of this Article, in cases of emergency conditions that the national economy's vulnerability to risks.

Article 33
1 - each sale is being or fulfillment or any other financial obligation in the Republic of Iraq in Iraqi dinars, and must be written by all the support, contract or document whatever, or if they contain called a financial commitment.
2 - may be used for the purposes of foreign currency mentioned in paragraph (1) of this Article, provided it is done in accordance with the provisions of this Law and the regulations and instructions issued thereunder.

Article 34
Bank is the only body authorized to issue currency in the Republic of Iraq, which is the only legal currency of the exculpatory edema, taking into account the provisions of Article 36 of this Law.
Therefore, in order to include the following: -
1 - take the measures necessary for the printing of banknotes and minting coins made available for circulation.
2 - to issue or reissue or replacement of banknotes and coins at its center and its branches and agents.
3 - take the necessary measures for the withdrawal of the banknotes or coins that are no longer fit for circulation.
4 - to cancel and annul and destroy banknotes withdrawn from circulation, or in his possession.

Article 35
1 - banknotes issued on behalf of the bank, and signed by the Governor.
2 - consisting of cash securities Manalviat the following: -
Quarter of a dinar, half a dinar, one dinar, five dinars, ten dinars, and twenty-five dinars.
3 - of the bank to issue banknotes to other categories, in addition to the categories provided for in paragraph (2) of this Article.
4 - identify shapes and drawings, designs and other specifications of the banknotes, a presidential decree.

Article 36
1 - coining the bank and issued coins for use in the Republic of Iraq, and has the same purpose minting commemorative coins to mark the occasions of national or a national or international, historical, or scientific, with the possibility of selling all the coins out of Iraq at more than face value, as determined by the Bank, either coins model , as determined by the Bank, either coins model may be sold inside and outside Iraq at more than face value, as determined by the Bank as well, and the Bank of the allocation of all or part of the proceeds from commemorative coins (the typical and ordinary), to international organizations, or regional, or institutions scientific, or charitable in Iraq and the Arab countries.
2 - had Akiem and descriptions, sizes and weights and forms of coins mentioned in paragraph (1) of this article, and installation of metal, and the percentage variation allowed in terms of weight and mineral composition, by presidential decree.
3 - coins that are legal tender issued by the Bank, and has a strong discharge unless he has obtained disposed illegally, according to paragraph (5) of this Article within the following limits: -
A - unlimited coins for a five dinars and above.
B - Reduction of fifty dinars coins from the category of one dinar.
C - Reduction twenty dinars for the coins of five hundred fils categories, or two hundred and fifty-penny, or cent fils, or fifty fils.
D - limit of five dinars for the coins from the category of less than fifty fils.
4 - the official departments and all the semi-official, to accept the coins issued by the Bank of any amount was, If it does not dispose of them illegally, according to paragraph (5) of this Article.
5 - is unlawful for the purposes of this law, if damaged coins or small, or cut down or reduced or distorted because of the use is not due to normal, and the Bank of such coins withdrawn from circulation and cut or broken or destroyed or re-minting.
6 - only the right bank of melting coins and the sale of minerals, or re-minting Almeskumat withdrawn from circulation, or in his possession.

Article 37
1 - Alpmk not required to pay compensation for paper money lost, stolen or destroyed or mutilated in whole or in part, has to pay, in accordance with conditions established by the compensation for such securities, and claim expenses that may ensue.
2 - do not need the bank to pay compensation for the lost coin, stolen or destroyed or disposed of illegally, he may pay, in accordance with conditions established by the compensation for such coins.

Article 38
Takes note of the bank's public statement published in the Official Gazette, declares with other media, types and specifications of the currency you decide to put in circulation.

Article 39
1 - The Bank Ashabr any class of issued currency from circulation, for the purpose of replacement, and to compensate the nominal value of legal process, in a statement published in the Official Gazette, declares with other media, taking into account the following: -
A - set the appropriate time limit to replace, not less than thirty days and not more than two years.
B - The category to decide the currency withdrawn illegally from the expiration of the replacement mentioned in paragraph (a) of this Article, the holder can be replaced with the bank and its branches only in the Republic of Iraq within five years from the date of publication of a statement withdrawing them in the Official Gazette.
2 - pay the bank after a period of five years mentioned in paragraph (1 - of this Article, to the Public Treasury, which decides the value of currency withdrawn, that were not brought him to replace, and reduce the amount paid from the account of the currency in circulation.

Article 40
1 - The Bank maintains assets as cover for a currency, not less than its value in no time for the full value of the banknotes and coins (other than commemorative coins) that are in circulation.
That those assets consist of all or some of the following items, as decided by the Council: -
A - gold bullion and / or gold coins.
B - foreign currencies convertible in cash or securities or assets, and defended or certificates of deposit.
C - money orders or treasury bonds issued by the Arab governments or foreign organizations or international financial or monetary editor in convertible currencies, that does not exceed a maturity of ten years from the date of acquisition by the Bank.
D - Assets of special drawing rights arising under the Convention on the International Monetary Fund.
E - Iraq creditor balances in foreign currencies for payment agreements or clearance or any other economic agreements.
And - transfers treasury Awsndhat the Iraqi government or bonds secured by it.
G - bonds, loans granted by the Bank under Article 2 of the twenty-guarantee from the Minister of Finance.
2 - should not be less than the sum of assets mentioned in paragraphs (a - e) (1) of this rule at any time of the (50%) fifty percent of the currency in circulation.

http://www.iraq-ild.org/LoadLawBook.aspx?SP=&SC=120120066646396&PageNum=2

What does this all mean?

Listen to Phoenix's post on blog talk radio last night. It will explain more.

Lightworker wrote:Listen to Phoenix's post on blog talk radio last night. It will explain more.

If the RV is indeed tied to a Gold standard it would be a rate of approximately $3.50 USD.

I really enjoy listening to Pheonix!

in 1976 the IMF enacted resolution 31-4 which states that currencies are no longer allowed to be pegged to gold. So, Iraq would not be able to go back to the gold peg.

Hi everyone, and special OKIE man, I am so new to this blessing and have done some calling around to see who I should enlist to help me with my cash-in. I called the head office of B Of A where I have banked for 17 years and they told me they have had so many calls on this, that they were absolutely not going to deal with dinar after RV. I need some help from any one here to give me some ideas where I can go to do this when time allows. I live in Boise Idaho, and if I need to travel I am sure I can arrange it. Thank you all so much for your help.
Marae

willmar1313 wrote:Hi everyone, and special OKIE man, I am so new to this blessing and have done some calling around to see who I should enlist to help me with my cash-in. I called the head office of B Of A where I have banked for 17 years and they told me they have had so many calls on this, that they were absolutely not going to deal with dinar after RV. I need some help from any one here to give me some ideas where I can go to do this when time allows. I live in Boise Idaho, and if I need to travel I am sure I can arrange it. Thank you all so much for your help.
Marae

Who knows? Maybe we'll need to become citizens of Iraq and cash in at CBI in Baghdad. Then become Canadians just prior to becoming US citizens again.

I like Phoenix and I applaud his efforts, but.....

From the IMF's site, they sell gold at market prices, not an "internationally recognized standard price"

"Transactions. Following the Second Amendment, the Articles of Agreement limit the use of gold in the IMF’s operations and transactions. The IMF may sell gold outright on the basis of prevailing market prices, and may accept gold in the discharge of a member country's obligations (loan repayment) at an agreed price, based on market prices at the time of acceptance. Such transactions require Executive Board approval by an 85 percent majority of the total voting power."

And the sale that was made in 2010 that he referenced was resulted in $15 Billion:

"In December 2010 the IMF concluded the gold sales program with total sales of 403.3 metric tons of gold (12.97 million ounces), as authorized by the Executive Board. Total proceeds amounted to SDR 9.5 billion (about $15 billion)."

Now, admittedly, my math could be off, but it would seem that 12,970,000 ounces (12.97 million) that resulted in $15,000,000,000.00 ($15 billion in North America) would be equal to $1156 per ounce, or about the market rate for gold in 2010.

willmar1313 wrote:Hi everyone, and special OKIE man, I am so new to this blessing and have done some calling around to see who I should enlist to help me with my cash-in. I called the head office of B Of A where I have banked for 17 years and they told me they have had so many calls on this, that they were absolutely not going to deal with dinar after RV. I need some help from any one here to give me some ideas where I can go to do this when time allows. I live in Boise Idaho, and if I need to travel I am sure I can arrange it. Thank you all so much for your help.
Marae

Dinar Trade and Dinar Banker will be cashing us in, go their websites www.dinartrade.com or www.dinarbanker.com they will show where their locations are at that's where i'm planning on going

Hey BC7
thank you for the re[ly and nhelp I will check thim out.