Dinar Observer Daily

Militiaman – Dinar Guru   Now that we are at the political crossroad with the GOI…Lets see if that red light of the politics gets sorted while we wait for that green light of the next IQD exchange rate to go live.  There comes a time where the system will require the CBI to make an independent move and inter connect with the region and the world, and that move imo may precede the politics if need be. We shall see though. They didn’t get this far to stop the bus, they have it fueled and fully tuned and ready to rill imo.. Time is short from view point.

MilitiaMan – Dinar Guru  Article “Parliamentary proposal to speed up the approval of the budget”  I am liking this one. It is implying there is urgency and a need to see the budget through. The political stalemate is not helping anyone or anything. There has been passed precedent for the budget to be sorted now and that later if need be the budget can be amended. There should be no big problem. So, lets see if there is a budget submitted prior too the 04/06/2022 time frame for the Presidency. Sure will be in interesting time for all to come together.

Pimpy – Dinar Guru  Things that influence the exchange rate of the currency, whether or not you have a stable government is one of them.  As you can clearly see they can’t even get one established.  That’s not good at all.  You’re not going to see any type of exchange rate change happen until the government is put into place, they start doing their job, they start increasing the private sector getting people back to work...all these things play a factor in the exchange rate process and value – Not just ‘oh they got a lot of oil.’  It doesn’t work that way…

Kaperoni – Dinar Guru   Central Bank of Iraq monetary policy is in cooperation with the IMF. It’s strategic, in scientific and nothing is random or arbitrary. Only with the success and growth of Iraq ‘s economy can the dinar go up in value.

Clare – Dinar Guru   Article:   “Parliamentary proposal to speed up the approval of the budget”  Quote:   “proposed a solution to expedite the approval of the general budget 2022.”  THAT IS VERY INTERESTING!   WE SHALL SEE HOW THEY GET IT DONE… BUT DON’T LOOSE SIGHT OF THE END…NOTHING CAN STOP WHAT’S COMING! IMO

Kaperoni – Dinar Guru   …talk about an RV based on political accomplishments such as seating of the new government. I assure you the CBI doesn’t care, their decisions are based on strategic and scientific monetary policy.

Sandy Ingram – Dinar Guru   Article:   “Tourists trickle back to Iraq despite the dangers“.  Here’s some really good news.  Most western governments still issue travel warnings for all or parts of Iraq…the tourist industry is expected to increase regardless of the travel warnings…

Mountain Goat – Dinar Guru   Article:  “MINISTRY OF FINANCE SAYS 200 BILLION DINARS TRANSFERRED TO ERBIL SULAIMANI — ”  Remember what the IMF told Iraq on its audits – they must pay the Kurds on a regular schedule and not hold up their payments. This seems to now be occurring. There will be no RV without this steady streams of payments. So this is all good …

Newshound – BGG  …some actual perspective might be in order for today. Iraq has just undergone a major electoral shift during these last early elections. It has trended towards a much more reformist, “for the people” agenda. The margins are very, very close. Some of the old guard in Parliament is holding on for dear life. It appears currently they [old guard] have just enough support to temporarily block the formation of this reformist government.  I do not expect these obstructionist margins to sustain. They [Sadr and the reformist] will get this done… and isn’t that what everyone wants?

Long term reforms in Iraq?

Samson – Dinar Guru   Article: “A legal expert clarifies the time period for choosing the President of the Republic and reveals the details of dissolving Parliament”  Quote:  “in the event that the new president of the republic is not chosen, the parliament’s presidency can postpone it until April 6 only.  If we exceed this period…we will be facing an irresolvable failure, and Parliament may be dissolved...”

Sandy Ingram – Dinar Guru  Iraq exported 15.43% of its oil to 6 European countries during the month of February.  Turkey 9.1 MB, Italy 5.1 MB, Greece 4.25 MB, Netherlands 2.05 MB and France 1.01 MB… as investors in the Iraqi Dinar we are hopeful these oil relationships and transactions will continue regardless of the outcome of the disruption in Russia and the Ukraine…

Mountain Goat – Dinar Guru   The CBI has told me in the past and is still telling me that, when the time is ready, they will “openly” inform the world on this project to delete the zeros and “proudly” show it off…This is part of going Global, International.

Militiaman – Dinar Guru  Article:  “In the names.. members of the Finance Committee after the parliament vote”  …The Finance Ministry (FM) side of the monetary reform process is looking to be ready to go with approved committee in place. I suspect that the CBI is has been ready, as well. It is the CBI and FM that need to work in conjunction with each other with respect to the exchange rate change back to a previous era that will usher them into a new era moving forward.

Clare – Dinar Guru  “Iraq exports oil derivatives to the United States after banning Russian imports ”  Quote:  “According to data from the Kepler research company, last year Russia’s share of US fuel oil imports was just under half, and Mexico’s share was 20% and the Middle East was about 5%.  But preliminary data from the tanker-tracking “Refinitiv Icon” showed that Middle East supplies will make up at least 17% of US fuel oil purchases in April.”

Kirk H. Sowell – Political Guru   So, no new president today with less than 220 MPs present. Halbusi sets next Wednesday, March 30, as the next date to hold a vote.

Pimpy – Dinar Guru  We all want a reinstatement…I never said I didn’t and I’ll take that $3.22 rate...but we have to deal with the probabilities and how realistic it is.  To me as long as it’s going in a positive direction I’ll take it…we are all trying to get to the same destination…there is still tons of talk about the exchange rate of the Iraqi dinar…there’s a lot of internal arguments and disputes going on over the exchange rate.

David M. Witty – Dinar Guru  Iraqi Parliament decides to delay election of new president of the republic and forming a new government until Monday…

Clare – Dinar Guru   Article:   “The Iraqi parliament adjourned on Saturday its session to next Monday, after it failed to complete the quorum for the presidential election session.“

Godlover – Dinar Guru   Article:  “Save a Homeland”: We have about 200 confirmations of attendance for the Saturday session, and we are waiting for changes within hours“. This is a good article. Sounds promising that the POR will be named. Then I am looking at the PM & then his cabinet. Hopefully the budget will be sent to parliament during some of this process for reading & vote. I suspect not much, if anything will happen during Ramadan. Still hoping for the budget opening around mid year & God willing it has what we seek.

Clare – Dinar Guru   Article:  “Parliament sets the timing of the Saturday session and limits its agenda to electing a president for Iraq“

Mountain Goat – Dinar Guru   …remember two things about this revaluation:  1.  Is it about what we are looking for or just back to the 1190 rate from the 1450 rate?  2. It must be preceded by the project to delete the zeros and so we must also get news of this project too at the same time. If we don’t, then they are not serious about giving us what we are looking for and just instead the same old, same old program rate adjustment… So, articles are needed telling us about the project and this will be a positive sign for us that we are getting very close…

Pimpy – Dinar Guru  Are we gonna have the same issue that we did in 2019 [With the parliament vote for president and PM] – Every time a candidate is announced and then we get get shot down and it happens again, we get two new candidates.  I remember that in 2019.  Let’s hope we don’t go through it again…

Clare – Dinar Guru   Article:   “Al-Adari: Saturday’s session will pave the way for the formation of a government by an Iraqi decision and will“

Pimpy – Dinar Guru  I understand that an RI will be better [than a slower rate increase]…It’s not that I don’t want and RI.  It’s not that I think an RI wouldn’t be better.  It would.  What I’m saying is realistically it’s unlikely just because of the shock that it would put on the economy and it could damage the dinar itself as well as the economy.  And you don’t want that to happen.  

Mountain Goat – Dinar Guru   …I suspect that once the president is elected and the prime minister announced that we will see a breakout of the news once again on the revaluation…

Pimpy – Dinar Guru   We’ve got to get the government formed first before we could do anything about the budget getting passed and then we could start talking all over again about a possible rate change…

Sandy Ingram – Dinar Guru  Article: “Export bottlenecks limit Iraq’s oil production potential”  Global markets need Iraq’s oil but infrastructure issues are likely to prevent the country from taking full advantage of high prices…Iraq’s oil fields have a combined production capability of over 5 million barrels per day…which is more than 500 million bpd higher than it’s February output but because of insufficient storage and export facilities the country cannot deliver that much crude oil over what it’s been delivering…

Clare – Dinar Guru   Article:  “Masoud Barzani and Al-Sadr exchange congratulations on the announcement of the largest bloc” Question: “Does this mean they have the votes to seat the government?”  WE WILL FIND OUT ON SAT MAR. 26TH… IF THEY ACTUALLY DO VOTE, WHICH LOOKS LIKELY THAT THEY MEET THE QUORUM..IMO… IF THEY DON’T VOTE FOR SOME REASON THEY ONLY HAVE UNTIL APRIL 6TH…

Pimpy – Dinar Guru  We’re finally moving forward with the government…once this government is formed let’s get in there talk about the budget and don’t be surprised if they start bringing up the exchange rate all over again...

Mountain Goat – Dinar Guru   …No, the RV has not taken place but…there is still potential. In fact, a huge amount of potential as the CBI still has it on their plan once a stable government is formed. So, this coming Saturday could be huge for us as we wait to see a breakthru, finally…