Dinar Observer Daily

Dinar Investor – Jeff   Article:   “Urgent: The seven committee selects Naim Al-Suhail as a candidate for Prime Minister”  Supposedly they have a committee of 7 members and supposedly they’ve named this gentleman Al-Suhail as a candidate for prime minister…we’ll see if they can actually make that announcement Monday supposedly the deadline to appoint a nominee for the Prime Minister.  Either way I’m not too concerned about the political process.  Remember the Central Bank is completely autonomous from the government itself…the Central Bank has been in communication with the Trump Administration…From all of Iraq’s actions in all of ’19 they showed us they were setting the stage for this.  In greater depth they showed us they were setting the stage for this in Q1 of this year.  Iraq has showed us and revealed to us from their steps and factual actions they are ready...

BGG ~ Probably not…

Sandyf – Dinar Guru   …It would be delusional to think that Iraq meets the IMF guidelines for a successful transition. Iraq is in a desperate situation, as was Egypt when the IMF forced the transition as a devaluation mechanism. If Iraq follows the same path it will join Egypt on the list of disorderly transitions with the IQD taking many years to regain the value it has now.  Floating the currency is never going to create any meaningful return on the IQD investment.

BGG ~ There is virtually no way a reasonable person can compare Egypt and Iraq. Jibberish.

G-Lin – Dinar Guru   Article:  “Former minister: Iraqi dinar on the way to “float”    Quote: “The former minister, Amer Abdul-Jabbar, confirmed today, Wednesday, that the Iraqi dinar is on the way to floating…”   …I think they are trying to create a level trading field at the borders with other countries. International trading. That’s the goal. But in order to do that they must curtail the corruption. They want and need to limit imports and make Iraq self sufficient. That would increase the currency value imo. And it would need to float.  But how strange to see a float article at this turbulent time. …Oil tanking, virus running a mock globally, incomplete Gov., additional bombing of Taji base yesterday with U.S. and ally casualties, and, and, and…the list goes on. …I would think this would be the worst time ever to float their currency…but who knows?

MilitiaMan – Dinar Guru   Article:  “Reducing the Iraqi dinar exchange rate – determinants and alternatives”   This is effectively the opposite of the plan. The why and why not to devalue.   …the CBI has explained they are not going to devalue for many reasons. The thing I like is that they use the reasons that support the opposite to occur.  They haven’t come this far with the reforms to devalue. They are not of the mind at this juncture to hurt the citizens. That imo would be suicide.  They clearly see that revenues are in a pinch with oil down. Therefore, imo with out them saying as much they are saying with out saying they are going to raise the value.  The negative side of the equation, is devaluation, the positive side is revaluation, imo.. They have the money printed and ready to go, they have the tools in place to facilitate the transition…imo…

Mountain Goat – Dinar Guru  The drama of selecting a new prime minister continues…The corona virus is not helping either. Just this week an economist came out and said they should put the dinar on a float. Really? We know this will never happen until they are ready to also raise the rate and get out of these auctions and artificially held down rate. …we have read already many, many articles on the pros and cons of going on a float just inside Iraq. The key is they can not do it “just inside Iraq”. It can not ever happen since the IQD is on a fixed de-facto peg to the US dollar. …This info alone should nullify such requests by these economists.   Yes, the CBI has adjusted the exchange rate from time to time for inflation. This is all they are allowed to do. But this is not a “float”. A float is based on market demand and floats are on an exchange where investors can come in and buy and sell. This will never happen on the artificial rate and process of the currency auctions window at the bank. It is all just talk, talk and more BS from people not responsible for the monetary policy of Iraq or who know how to manage monetary policies for countries.

Adam Montana – Dinar Guru   …The world, and the world markets, are treating the Corona Virus as if it were a full blown pandemic – so, whether it deserves to be treated that way or not – that’s what we are dealing with.  OIL is down to about $30….Stocks… don’t even get me started on the markets… Iraq is vulnerable to all of these things, just like the rest of the world – and on top of that, they are dealing with a Prime Minister issue. In spite of all that… guess who’s not going anywhere?  Iraq, you, and me. We aren’t going anywhere…

Pimpy – Dinar Guru    ...right now the dinar is pegged.  That’s a fixed exchange rate against the U.S. dollar...if it floats then what determines its value is gonna be based on supply and demand and market…this is good.  As Iraq gets their crap together and the better they do the more valuable the currency becomes…we want this.  We’ve been saying this for a long time.  We need them to unpeg from the U.S. dollar which is a fixed exchange rate.  Which is manipulated by the government and we want them to go into a floating exchange rate…just like that it can jump up in value…if we get this you’d be surprised what will happen to the dinar once the government is established.  Once they’re stable and there’s no more protesting the dinar would just keep going up and up… [Post 2 of 2]

Pimpy – Dinar Guru   Is this right?  Is there an article out there saying that we finally have Iraq heading towards a floating rate?  This can’t be?  When I found out about this I almost lost my poop… Article:  “Former Minister:  Iraqi Dinar On The Way To “Float“. …we want the Iraqi dinar to float.  Yes we do!  This article says for the purpose of reducing its value.  That’s not the case.  Quote:   “The former minister, Jabbar, confirmed today, Wednesday, that the Iraqi dinar is on the way to floating…” …this is good news believe it or not.  I’m not talking about how the dinar is gonna lower in rate…  [Post 1 of 2]

Kaperoni – Dinar Guru   Can I toot my own horn?  Ok here you go…Article:  “Former minister: Iraqi dinar on the way to “float”  Quote:  “the Iraqi dinar is on its way to float (i.e. reduce its value), and the Iraqi government may have to increase the exchange rate of the dollar to 1250 dinars against the dollar in order to obtain additional funds estimated at 4 trillion dinars in the budget and this matter is positive because it will allow encouraging the national industry because it will raise the value Imported goods and makes domestic competitive.”  Maybe some of you will study monetary policy now… I do agree that under the current conditions it will probably devalue the dinar. That is why I have stated numerous times that is important that they create the conditions to launch a market economy first.  If Iraq wants to succeed at raising the value they need to create a market economy, have a gov in place, cabinet and pass laws that investors will come and participate.

Francis Albert – Dinar Guru   Not sure where this “float” thing is coming from. All currencies go up and down based on people buying and selling them. I believe there’s over 5 Trillion, (that’s a T) bet on the FOREX market every DAY. And all currencies are basically pegged to the dollar whether they like it or not. As the Iraqi Dinar rises in value after going International on FOREX, the money currency players on FOREX make on a rising Dinar comes from other traders, not Iraq.

Pimpy – Dinar Guru  …I told you I think that Iraq is gonna come out on a sweet spot of around $1.34…one of the things they can do is increase the value of the dinar.  Give themselves purchasing power and let them go and buy stuff from other countries that they need so they could get all their needs taken care of…

Pimpy – Dinar Guru   …the Iraqi Stock Exchange is closed until March 21st.  So many rumors out there before this was announced.  Why did they close until March 21st?  ...maybe they are preparing themselves for what?  The rate change.  Could they be preparing themselves for a rate change?  Is that what’s going on?  We’ll find out right.

Kaperoni – Dinar Guru   …The auctions absolutely will go away once the CBI accepts IMF Article VIII. There will be little need once the dinar is traded globally. In fact, it is preferred. And once the dinar floats, the global financial system will trade the dinar and its value qill be determined by market forces.

Breitling – Dinar Guru   I’ve never had fear of the Iraqi dinar gaining value.  It’s just at what pace and at what rate.  I have more confidence today than I’ve ever had.  But the dinar crowd this is gonna be a prayer answered and then it’s gonna be taken away because the most important part of what they need to know they’re not even looking at.  They’re just worried about getting the money.  You have to have a tax plan in place...

Mountain Goat – Dinar Guru    …we are waiting for our third miracle. This miracle is finding that person who will be the saving grace for Iraq to stand up to all the corruption. This corruption stems from Iranian backed militias, the strong-arm of the Iranian backed politicians. I believe this person is Mohammed Allawi. Yes, he did not get his way with the cabinet he wanted and so he backed out, for now. But he will return as he is the man for the job and will come back in time. …Once Allawi has the legitimate power he needs we will see the necessary changes. Literally, things can change very quickly. It is amazing what a difference a day can make. We wait for this miracle.

Angel1 – Dinar Guru  …There was breaking news all across the [Iraqi] news networks and what they were talking about there was going to be a Q & A interview with the PM Mahadi and the Minister of Finance.  I am desperately trying to get my hands on the translation…I believe it was a good piece of what we are looking for.  We are in an incredible position…what we were waiting for was happening on the other side of the world.  I cannot stress enough – things are on red alert…what we have been seeing behind the scenes has been happening…we are starting to see the public results of private meetings and that is why we’re excited...

Okie_Oil_Man – Dinar Guru   THIS WAS/IS TO BE A PRIVATE TRANSACTION AND THE GENERAL PUBLIC WAS NOT TO BE INVOLVED. THANKS TO G.W.B. SIGNING E.O.13303 WE WERE PERMITTED TO PARTICIPATE—

BGG ~ COMPLETE B.S. – NO TRUTH IN THIS WHATSOEVER!!

Breitling – Dinar Guru   Will the lack of a Prime Minister have an effect on the revaluation?  No I don’t see it that way.  Remember the CBI is in charge of handing their currency…

Dinar Investor – Jeff  …Friday Brent crude oil was $45 a barrel.  As of this evening Brent crude dropped $10 down to $35 a barrel.  Everything is moving and happening exactly as I told you it would…remember their goal is to make Iraq look worse than it is…they’re doing that politically.  Economically.  Everything.  So now ask yourself why would they have all these crappy lying articles to make the country look like it’s completely upside down in terrible shape and then they have these amazing banking articles.  That should raise a red flag to you.  We’re right on track.  Nothing on my side has changed…

Pimpy – Dinar Guru   Article Salih: The UN Security Council Sanctions Still Apply To Iraq.   …what that means is they’re preventing their currencies from being recognized internationally.  This means that Iraq can’t really step out on the International market and do business like they need to do.  If the rate change happened today…we would have a hard time trying to exchange our money with some of our banks because the currency is not bing recognized internationally.  I know Chase Bank is accepting the dinar now at its current rate and my assumption would be that if a rate change happens they would honor the new rate.  But there’s a lot of banks and a lot of financial institutions that are not recognizing Iraq internationally…

Dinar Investor – Jeff  …we’re at the end…all the news talking about Iraq’s economics.  Political scene.  The budget.  Everything is complete pure BS…everything is waiting on the rate change including the politics…only one level of news has been accurate.  That’s the banking news.  You guys have seen some really good banking articles through this past week…

Breitling – Dinar Guru   …the coronavirus…I’ve literally had people go nuts on me…here’s the thing it’s completely opposite.  The markets are driving oil prices down.  The demand for oil is going down.  Therefore Iraq is not bringing in enough U.S. Dollars to cover their budget and the solution is to add value to their own currency which is undervalued anyways.  What do you think the coronavirus is gonna do?  Do you think it’s going to stop that or accelerate that? …the reality is for Iraq, if it puts pressure on their economy, then it’s going to lead to our advantage.  They need to add value to their currency to make up for what’s being lost market wise…

Pimpy – Dinar Guru  …because of the coronavirus crude oil is tanking, just like cryptocurrencies.  Just like the Dow.   These things are getting killed.  Just getting annihilated…it dropped to $45 I think right now.  It might have dropped a little bit more…between the protestors and their government and the PM I don’t know how much worse it can get for Iraq.  It’s just at its worse…this actually might be good for us in the Iraqi dinar community…let’s just hope that oil prices keep going down and maybe that might trigger something that we’ve been waiting for…if ever a time before where Iraq needed a rate change to happen it’s definitely now…

Kaperoni – Dinar Guru   UN Chapter 7 has nothing to do with monetary policy. If it did, the IMF would not be encouraging the CBI to accept IMF Article VIII to send a message to investors that Iraq is open for business.

Breitling – Dinar Guru    …everyone thinks it’s at a market rate and somehow they’re gonna add or subtract wealth to it.  It doesn’t work that way.  No currency works like that.  They’re either taking currency out of the market or they add to devalue the currency…They’ve been reducing the note count and they’re gonna reduce it even more.  The official procedures are coming out of the CBI is that when they introduce a new note that will absorb the new prices the notes that you and I have and the new notes will coexist with the added value for two years…they’ll have a process where they’re getting rid of the denominations that you and I have.  It will be a two year process.  [Post 2 of 2]

Breitling – Dinar Guru   …I’ve been getting emails and I’m not gonna name the guy out there that’s putting this information out…here’s the math.  He’s talking about that there’s too much currency out there for it to revalue so it’s impossible…    if you do not think they are going to reduce the money supply you do not need to be in this investment.  Because that is the key.  That is what we’ve been watching.  So that is the dumbest statement I’ve ever heard people say is that there is too much currency out there.  Their plan was and they’ve specifically said they are going to reduce the money supply.  And that’s where we find our value…   [Post 1 of 2]

Kaperoni – Dinar Guru   …First, they cannot because it would create demand and the daily auctions are based on a balance between dinar and dollar…Secondly, it’s a known fact that over 70% of the currency in Iraq is “chunky.” Meaning it’s outside the banking system in homes of citizens, Etc… As it re-enters the banking system and is turned in. This would be a slow gradual process that simultaneously could work at the same time that dinar goes up in value but that all takes time and it would only occur as a result of the prosperity of the market economy. I challenge any one…at any time to discuss monetary policy with me…

Mountain Goat – Dinar Guru   Doesn’t this process of selecting a new prime minister and his/her government seem to take longer and longer each time? More corruption each time as since 2014 the corruption has only gotten much, much worst as Irian has been allowed to infiltrate Iraqi politics. This is at the heart of the delays. So, here we go again…this is de’javu!  Among the names that are being discussed during the meetings are Asaad Al-Eidani, Ali Shukri, Muhammad Shia’a Al-Sudani, Mustafa Al-Kazemi, but until now, there is no specific agreement on any candidate.

BGG – Think about all this for just a sec…They have had several Shia dominated government’s that were corrupt and not getting anything done for anyone but themselves…(Maliki, Abadi and Mahdi).  They were headed for another Shia dominated government with even less accountability than in the past.  1) The protesters didn’t like this guy [Allawi].  2) The Kurds didn’t like him.  3) Sadr didn’t like him.  4) The Iraqi President of the Republic, Barham Salih, very nearly resigned over having to “nominate” him in the first place.  There are is a very good chance we just dodged another bullet with the developments of last Sunday. If he wasn’t the right guy to get this done – he wasn’t the right guy.  Instead of always thinking THIS was some kind of delay…  [post 1 of 2]

BGG – If these protests continue and we get a real reformer in there, this could still be a huge win for us… especially with Iran getting “blacklisted” like they are. There will be very little latitude for Iraq to continue doing business with (and selling US Dollars to) a country under such international scrutiny. The end result? Less Iranian influence and not nearly as much need for the CBI / IQD / currency auctions. The ending of these auctions will likely usher in true currency reform in Iraq.   [post 2 of 2]