Dinar Observer Daily

Sandy Ingram – Dinar Guru   Iraq is facing a deepening hole in its public finances because of a crackdown on corruption and dollar smuggling…The Iraqi government depends on the auctions to convert dollars…they sell oil in U.S. dollars and then they turn around and change it into the Iraqi dinar for the Iraqi dinar economy…the problem Iraq is facing now is Iraq does not have enough Iraqi dinars and because of this they do not have enough money to pay government workers salaries and other obligations.   [Post 2 of 2]

Firefly – Dubai wants to make Iraq like a trading infrastructure investment site – where Iraq is like a hub…this would be a tremendous boost to the Iraqi economy. FRANK:  Isn’t that something?  Dubai, the filthiest richest country in the world wants to make Iraq their financial hub.  Oh my gosh, rich people only hang around with rich people…Do you really think that they would make such an amazing enormous investment in your country at a program rate? …trust me they know what is happening with your monetary reform and they want a piece of it.

Henig – Dinar Guru  Article:  “How did the US “shock policy” affect the price of the dollar in Iraq?”  Quote:  “A report published by the American Wall Street Journal today, Friday, shed light on the dollar crisis in Iraq and the accompanying rise in the prices of food and imported goods…The newspaper quoted US and Iraqi officials as saying, “The Federal Reserve began last November to impose stricter controls on Iraqi commercial banks’ dealings in dollars, in a move aimed at curbing money laundering and illegal access to dollars to Iran and other countries subject to severe sanctions in the Middle East.“

Clare – Dinar Guru  Article “Al-Rashid Bank begins selling dollars to travelers through the Baghdad International Airport branch” Quote “On Thursday, the governmental Al-Rashid Bank began selling dollars to travelers through the Baghdad International Airport branch, at an amount of (5000) dollars per passenger, at a price of (1470) dinars per dollar.”

Militia Man – Dinar Guru  With all these convergences going on in Iraq gearing to do an exchange rate change I thing what we’re going to see is these convergences come together in a very very short period of time because of…the need for the hydrocarbon law, Article 140, Sinjar agreement, all of these different things are coming together.  The 2023 budget being next week, the World Trade Organization have had meetings today that included many countries not only Iraq , they’re all waiting on the exchange rate.

Sheila – Dinar Guru   …”they can now send money electronically and internationally just this week. From France to Iraq with no problem”  …Is this a sign?]   I absolutely believe that is a sign. I hear a delegation from Iraq has been here a week to work on putting the rate live in the system. And we have been over there in Iraq working on the rate to go live there as well. I hear the rate will be live on the 29th.  …You cannot trade on the NASDAQ with the ISX without having a rate. And that is the whole purpose of the delegation being over here…and at this point nobody should believe this wont happen until 2024…. Pay attention. We are all at the right place at the right time.

Samson – Dinar Guru  Article:  “The Iraqi dinar pays the price.. Washington cuts off the dollar smuggling route to Iran“ Putting a halt to Stealing USD.

Nader – Dinar Guru  Today for the first time since 20 years my mom is able to receive money directly from bank to bank.  What happened is, mom needed some money…I was in France.  I heard they accepting an electronic payments.  So I sent money to my mom from my bank in France through Iraq and she received it this morning!  I sent it yesterday morning and she received it this morning.  It’s amazing. [post 1 of 2]

Nader – Dinar Guru   I know it’s not a new thing but…before we’re not able to do that.  Now we are able to do that.   What’s weird is I’ve been watching the exchange rate.  The exchange rate 1670/1650 but when I sent the money it was only 1460…just like the normal rate. That’s good news.  Something has happened.  Something has happened tell you the truth. [Post 2 of 2]

BGG – Article:  “Saudi Arabia Says Open to Settling Trade in Other Currencies”  …Iraq is talking about their currency and it’s value almost every single day. The set of events I have discussed recently are now being talked about in MAINSTREAM outlets. Stick to news.

Pimpy – Dinar Guru  The truth of the matter is we have no idea how much Iraqi currency is in circulation.  I’ve read articles talking about for…5 or 6 years Iraq was spending somewhere in the neighborhood of a billion dollars…buying the dinars back and destroying them… [a] soldier was telling his friend that when he was in Iraq…he had to log in their currencies as they destroyed it.  As soon as he said that I asked him about it. I said, ‘You’re talking about the new [dinar]?  The dinars of today?’  He said, yeah.  [Post 1 of 2]

Pimpy – Dinar Guru   I said, ‘Did they say why they were destroying them?‘ He didn’t know why but their job was to protect their currency and so he had to log in a list of serial numbers and they were destroying it.  He said they destroyed a ton of it.  Even though it says there’s 157 trillion dinars that are in circulation how many of them are actually in circulation?  …that’s one of the question I have.  I know this for a fact Iraq was trying really hard to figure out what is and is not in the hands of speculators and how many dinars are actually out there… [Post 2 of 2]

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Clare – Dinar Guru  Article:   “The Wall Street Journal reveals the scenes of the Fed’s tightening of the dollar in Iraq”  Quote:  “the Federal Reserve Bank in New York began imposing stricter controls on international transactions of dollars by Iraqi commercial banks in November 2022, in a step to reduce money laundering and illegal seizure of dollars that go to Iran and other countries in the Middle East that are subject to severe sanctions.”  [Post 1 of 2]

Clare – Dinar Guru  Article 2:  “Iraq Economy Reels as U.S. Moves Against Money Flows to Iran — WSJ”  Quote:  “Iraqi banks had operated under less stringent rules since shortly after the 2003 U.S. invasion that toppled Saddam Hussein. Almost two decades later, American and Iraqi officials said they have decided it was time to bring Iraq’s banking system into compliance with global money-transfer practices.“   [Post 2 of 2]

Militia Man – Dinar Guru  They’re about to make a change and it’s expected not only by the citizens but also by the Ministries.  They’re all expecting something to happen from the CBI…

Henig – Dinar Guru  “The dollar has gone down… the dollar has gone down“… cheers from the audience as Al-Sudani entered the Basra stadium”  Quote:  “the audience chanted: “Download the dollar…Download the dollar“ in the dialect.”  IMO: Very poor translation in the headline there. It’s not past tense, as the headline wants to show. They’re calling for the Dollar to be devalued…

Sandy Ingram – Dinar Guru   Iraq is still under sanctions and has an ongoing agreement with the U.S. government.

BobTheTaxMan – Dinar Guru  The [Modern day]  IQD…replaced the previous currency that once had a value of $3.75 (that was an inflated price that was brought into play by Saddam.  It wasn’t justifiable and reality price)… [The IQD now] is considered to be under a managed float with little change in the value for the last two decades.  The value is small at this point in time.  The CBI…in recent years have stated they could support a $1.17…

Henig – Dinar Guru  Article: “Economic: Reducing the price of the dollar outside the ability of the government and the central bank”  IMO: This article is in the category of FUD: Fear, Uncertainty, and Doubt. By saying that there’s nothing anyone in Iraq can do about their own currency, they spread a feeling of hopelessness among the Iraqi people–and among investors in the Dinar. When investors feel hopeless, they start looking for the exits. That’s the point of stories like this…This is an intentional strategy. Recognize and understand.

Clare – Dinar Guru  Article:  “For the first time… $100 jumps over 165,000 dinars in Iraq ”  Quote:  “The exchange rates of the US dollar against the Iraqi dinar jumped today, Thursday, in the main stock exchange in the capital, Baghdad, and in Erbil, the capital of Kurdistan Region, to record more than 165,000 dinars.

Militia Man – Dinar Guru  All the things we’re seeing right now are pointing to a picture Iraq is about to make a move with their exchange rate and the reasons why they’re keeping it quiet is because it’s sensitive.  It’s not the CBI’s job to come out and tell you exactly what they’re going to do…

Kaperoni – Dinar Guru …The IMF, World Bank and UN are there to support countries not demand reforms and punish them for not following guidelines… Only the IMF would work with Iraq regarding monetary policy and nobody is telling Iraq to change the value of their exchange rate… In fact, it was agreed upon that it would stay the same for a few more years… Only with the success and growth of Iraq diversifying their economy will Iraq float the dinar… They have a lot of work to do including passing over 100 stalled laws to encourage investment that they keep saying they’re going to pass but they never do… Until that happens the dinar will remain weak…

Mountain Goat – Dinar Guru  The German engineering company (Siemens) is a pioneer in the field of energy production, and it has a plan to raise the rates of electricity supply to Iraq...Why is this so important to us as investors in the dinar?  Modern banking is all electronic…Even to conduct electronic transfers of funds needs the electric grid up and running 24/7. Once Iraq goes international this will be a necessity…

Sandy Ingram – Dinar Guru  Iraqi banks have had to comply with certain criteria of the SWIFT International Transfer System in order to access their foreign reserves.  This foreign reserve is $100 billion is held at the U.S. federal reserve.  You can see the U.S. is playing a part in helping Iraq to grow stronger financially.

Militia Man – Dinar Guru  The CBI will have to make an exchange rate change…They’ve said they were going to redenominate their currency to match the region and we expect that to happen relatively soon.  They publicly stated they may be doing a 20K note but we believe it’s not the truth because there’s no other countries in the region that use 20k notes.  We believe that the redenomination that the central bank has told us they were going to do will be part of the plan of the project to delete the zeros off the exchange rate and go into a new international world. 

Clare – Dinar Guru  Article:  “A new announcement by the Central Bank on the exchange rate of the dollar”  Quote:  “The bank’s advisor, Ihsan Al-Yasiri, said in a press statement today, Wednesday, that: ‘The rise in the exchange rate of the dollar against the Iraqi dinar is a result of the development of an electronic platform to ensure that the dollar reaches directly to the people who benefit from it without going through additional episodes.’“

Samson – Dinar Guru  Article: “A deputy sets a condition for voting on the 2023 budget related to the dollar exchange rate”  REDUCE THE DOLLAR TO THE DINAR

Samson – Dinar Guru  Article:  “Al-Nusairi announces the release of his new book, “The Central Bank of Iraq…The Journey of Challenges and Achievements 2003-2022”  Quote:  “The book reviews the challenges that the Central Bank of Iraq faced during twenty years, the policies, programs and strategies it adopted and the achievements that achieved its goals“

Sah – Dinar Guru  Yes, they are out of chapter 7 formally, as of a few months back. IMF stated that Iraq did overpay and was paid back about 7 million and was taken out of Chapter 7 and submitted to the UN. It was one of the requirements of the IMF for them to go international…