Dinar Observer Daily

Tivon – Dinar Guru  I am not even interested in the budget anymore. Especially after I found out they can issue the Oil & Gas Law under “Citizens Entitlements” which is in the FSL. Remember my people the advisor to PM said there are two legislative laws. The FSL/Budget. Both of them have the right to use the financial savings/reserves to serve the citizens.

Mountain Goat – Dinar Guru   I will be contacting the CBI soon to get an update on the project to delete the zeros… How will this next chess move begin? …I believe it will be announcements made to turn in the older, larger three zero notes and a deadline will be given. After that date the banks will no longer accept them. How long will they have I do not know.  The rate will be 1:1 and…this does not mean 1:1 meaning one dinar to one dollar… it simply means the current rate of the dinar under the program rate will be the same rate assigned to the newer lower denominations when they come out.    [post 1 of 2….stay tuned]

Mountain Goat – Dinar Guru …Technically there is not going to be any revaluation in Iraq.  Get it?  It is not until you take the older thee zero dinar notes after the dinar is reinstated on FOREX at the rate we are all looking for in exchange for our currency the US dollar, Euro, Canadian dollar, etc, etc, that a significant increase in value is realized… Now we wait for the next step. How will this next chess move begin?  [post 2 of 2]

BobTheTaxMan – Dinar Guru   Emerging markets are countries that have some characteristics of a developed market but yet not fully developed …Iraq and Mongolia are the two latest that are moving from a kind of 3rd world status...Iraq is the richest country in the Middle East in terms of having raw materials and educated people.

Pimpy – Dinar Guru   …I was listening to news from overseas, the lady was talking about how the IMF and the World Bank have grossly underestimated the GDP growth in Iraq and said that if they formed their government and moved forward in the right way that they would have a much stronger GDP growth.  That would be awesome because that’s what we want.

Militiaman – Dinar Guru  Article: “Finance is finalizing the 2022 budget, and good news for lecturers and contracts”  There is definitely a push to get the reforms done… The articles all show it to be the case and the world having been involved through the World Bank, IMF, AMF, UST, etc., is and or was the catalyst to push the politic side into high gear or the consequences may have been very dire.

Kaperoni – Dinar Guru  For the most part, the IMF is in charge of Iraq’s monetary policy (at least providing significant guidance). And the IMF does not want them to redenominate.  It is well documented they want them to allow the dinar to gradually appreciate as the economy grows.

Nader – Dinar Guru  community comment  “Iraq is printing too many dinars…”  Yeah they printed too many dinars.  They stopped printing…the 25,000, 10,000, 5,000, 1,000.  They stopped printing them.  Now they’re trying to print new money with only one or two zeros…smaller category of currency...They didn’t print it yet I’m not sure.  Maybe the project is there but I don’t know if they started or not…I know they said we’re gonna do this but nothing else, they didn’t say anything else about it.

Sandy Ingram – Dinar Guru  …Excellent news from Iraq.  Article: “Iraq currency reserves expected to exceed $90 billion by year- end, Finance Minister”  …this is excellent news.

Pimpy – Dinar Guru   Article:  “Al-Kazemi: Iraq has become one of the most important countries in the Middle East in terms of economic growth”  they could have a much stronger economy but they have to pass a budget.  Well they can’t pass a budget because the Supreme Court won’t allow them to.  You have to wait until the ‘caretaker’ government is out of office and a new government is established...  [Post 1 of 2]

Pimpy – Dinar Guru  they can’t get money out to the needy and they got to continue working with the last year’s budget.  This is Iraq, always shooting itself in the foot.  They have the opportunity to really grow and thrive…but they can’t get out of their own way.  I see the great potential there in Iraq.  It think it’s a great investment.  I haven’t changed my mind.  [Post 2 of 2]

Deepwoodz – Dinar Guru   Kadhimi has been silent but he usually is concerning parliament…I do agree there is a work around/smoke and mirrors in play. I suggest that the EFSLaw is the work around to the new exchange rate…the budget law and EFS law are synonymous. I believe this means the rate is in both. Whichever comes first should reveal it.

Godlover – Dinar Guru  This EFSL [Emergency Food & Security Law]  is not a good thing, IMHO. I know many are expecting the EFSL to have a new rate, however, I cannot see any logic in that thinking unless the 2022 budget is passed with it, which I highly doubt. As well, the EFSL is synonymous (similar) to the 2022 budget because it has a mini budget with it…I want & need this blessing just as much as anyone else, but…if it walks like a duck, quacks like a duck, then certainly it must be a duck.

Samson – Dinar Guru  Article:  “Al-Rasheed Bank of Iraq outside international sanctions after 30 years”  Quote:  “Al-Rasheed Bank announced, on Sunday, May 29, 2022, the removal of its name from the list of international sanctions of the Charter of the United Nations…deleting the name of the bank from the list of international sanctions of the United Nations Charter is an advanced step…the decision will allow the bank to open its branches outside the country, Especially in important countries that are centers of international banking and related financial transactions…”

Mountain Goat – Dinar Guru  Article:  “A WISE ADMINISTRATION RAISED THE PRICE OF THE DOLLAR.. A BOLD TALK BY THE MINISTER OF FINANCE ABOUT A SURPRISE FOR THE IRAQI ECONOMY, WHICH BODES WELL”  Quote:  “…confirmed the increase in cash reserves with the Central Bank to 90 billion dollars by the end of this year,…”  Iraq says they have the security and certainly they have the financial stability. They repeatedly said they needed this for the project to delete the zeros and so where is it? Do you get my point?

Pimpy – Dinar Guru  There are some things I notice about Iraq that just drives me insane.  They’re so on the verge of just being where we want them to be so we can make something off this investment – it’s just so close, but then every time it’s like, ‘Oh, you almost had it…‘ So close, so close, but not quite there yet…

Militiaman – Dinar Guru  Article:  “Saving a Homeland: The government will be formed within the next two months”  I am not seeing them use two months to resolve the issue of the Government impasse. There is another meeting with the UN post two scathing reports on the lack of movement politically. Not only have they the pressure from the UN, the IMF, the UST, the World Bank, even the CBI supports they are moving faster than months out...imo.

Nader – Dinar Guru  Comment:  “Iraq will never reinstate their money.  Their money will never go up.”  You might be right but I strongly disagree with you because if you look all around us like Kuwait, United Emirates, if you look all around us the least the dollar..the Saudis…you can buy for I think 58 cents for a dollar…I think there is a big chance of reinstating.  A big chance…

Mountain Goat – Dinar Guru  Next Steps: So let them iron out the details of the next government as I am hearing that it is just about completed. I suspect we may hear more details on it this weekend or early next week. Once the president is voted on it will not be long before the government is completed. I have been saying all along the Al-Kazemi will stay as the prime minister… Let’s just sit back and watch it all play out.

Godlover – Dinar Guru  Article: “Parliamentary agreement to complete the draft food security law”  The FSL is a “filler” with a mini budget per articles, for them to get by until the general budget is approved & opened. This of course needs a new government or for the current government to be granted full authority. The FSL is not a substitute for the general budget, assuming they ever pass the general budget, then it would be a substitute by default. Certainly the FSL will not have what we all seek.

Nader – Dinar Guru   The reinstatement will not go more than 1 to 1 to start then it floats.  That’s how it’s gonna happen…I don’t think it’s gonna be in the $6…no country will be in the $6 range against the dollar…

Deepwoodz – Dinar Guru  Let’s not forget that Kadhimi and his government had the budget ready long before now. Even before they supposedly became a caretaker. They could easily have put the budget forward at the end of last year if they had wanted to.   Whatever they were waiting on then, is probably the same thing they are waiting on now.  The articles are like riding a roller coaster but the truth is much less chaotic. We just aren’t privy to the schedule they have set. Nor are we privy to the date or the rate…Yet!

Samson – Dinar Guru  Article:  “The arrival of dollar reserves to 90 billion, ringing the bells of the exchange rate”  Quote:  “Calls are rising among the popular and political circles, to reduce the exchange rate of the dollar against the dinar, after the foreign currency reserves in Iraq witnessed a jump during 2022…the step of raising the value of the Iraqi dinar, if achieved, will make the dinar a competitive currency that helps lower the prices of commodities and foodstuffs in the markets. According to the experts…”

Godlover – Dinar Guru  Question:  “IMO, everything is in place they just have to do it…what do you believe still has to happen in order for them to be ready?”  What NEEDS to happen is a seated government IMO. Even if a government is “prepared” already (hiding), then it needs to be made official. A government that no one can see, is no government at all.   [Post 1 of 2]

Godlover – Dinar Guru   Furthermore, if a government was in place already, it would benefit them to make it official. There is no benefit to hide them. There would be no reason for them to not announce their new government, if it was already formed.  So much cannot happen with the current government in place per articles. As stated in previous articles, the current government may get a vote to grant them full authority…we will see. But until one of these scenarios happens, they are in limbo. [Post 2 of 2]

Firefly – Dinar Guru   [Iraq boots-on-the-ground TV report]

FIREFLY:  CBI governor talking about the exchange rate…in interview on news.

FRANK26:  This is where it starts to get real…it’s getting close, be prepared. 

FIREFLY: Yes.

Samson – Dinar Guru  Article:  “The Central Bank of Iraq announces that foreign reserves have risen to $74 billion“  Quote:  “noting that the financial situation in Iraq was “very excellent” compared to the countries of the region and neighboring countries…“

Nader – Dinar Guru  We’re waiting for them to vote for the food security…I don’t think the Food Security has something to do with the rate.  It’s nothing.  They’re putting 25 trillion dollars [dinars] to secure the food.  That it.

Militiaman – Dinar Guru  …  I hope they do pass the EFL. The citizens deserve their constitutional rights.  Those that support the coordination frame work would like very much they don’t [pass the law] …  Those that are for the citizens do want the EFL, as it is like the 2022 budget, they are synonymous. In other words they are new exchange rate oriented. imo..

Pimpy – Dinar Guru   Article:  “The Iraqi currency reserves are expected to exceed $90 billion by the end of the year”  They are quickly getting up there as far as their reserves are concerned…the more they have in reserves the more they have to support the economy as well as the Iraqi dinar which is what you want…we were all happy when they reached 70 billion now they’re projected to be at 90 by the end of the year.  This is awesome.  This is great news.