Dinar Observer Daily

Pimpy – Dinar Guru  People were told that you cannot exchange your dinar unless you have a humanitarian project.  That’s false… that’s another thing out there that drives me crazy.

Clare – Dinar Guru  Article:  “Parliamentary expectations for the arrival of the federal budget before the start of the second legislative term”  Quote:  “Parliamentarians expected the federal budget to arrive before the start of the second legislative term, which will start next Monday.“

Mountain Goat – Dinar Guru   Iraq started the process of joining the WTO 18 years ago…the process was delayed due to corruption in Iraq… due to political and economic instability this was stalled until 2017…Since then, the fast-tracking process is underway…Iraq has made considerable progress in this front…They must be VERY close to full membership…I will say that I believe the WTO is also going to push that Iraq reinstate the IQD back on FOREX and relieve Iraq of all sanctions on their currency… Iraq was supposed to be already reinstated on FOREX, as Dr. Shabib wanted to do back in January 2013.

Walkingstick – Dinar Guru   The 3-zeros are going to drop gradually as the IQD floats internationally.  You will see the exchange rate go from .000 to .00 to .0 to . – that’s the float.

Pimpy – Dinar Guru   The re-denomination of the Iraqi dinar…too much has happened with the Iraqi dinar for it to continue to exist in its current state.  Something needs to be done about that.

Clare – Dinar Guru  Article:  “Minister of Oil: We have achieved more than $115 billion in exporting crude oil for the year 2022“

Nader – Dinar Guru  The only way for you to be comfortable and say okay it’s time or it’s close is when you see him change currency.  When you see him [CBI] come out with a new currency and stop buying and selling the dinar…

Sandy Ingram – Dinar Guru  This is an extremely important lesson and real case study of the Central Bank of Egypt’s decision to float the currency.  We are sharing this information so you know what to expect or not expect should and when Iraq floats their currency…Floating a currency… means the government is no longer controlling the value of the Egyptian pound…For decades the Egyptian currency was pegged…it could only go up or down based upon the fluctuations of the U.S. dollar…Then Egypt needed a loan from the IMF… [Post 1 of 2]

Sandy Ingram – Dinar Guru  One of the conditions required Egypt to float their currency…the immediate results were high prices and…a sudden widening of the exchange rate between…the black market and the Central Bank of Egypt’s currency rate…The value of the Egyptian pound dropped by nearly 50% last Thursday however in the long term it is hoped…floating the currency will control inflation…Egypt has been running desperately short of foreign currency.  Iraq does not have this problem…Iraq foreign currency reserve is now over $96 billion... [Post 2 of 2]

Mountain Goat – Dinar Guru  Article:  “FOR THE FIRST TIME, CENTRAL BANK SALES ARE DEVOID OF FOREIGN REMITTANCES”  Quote:  “the central bank sold today, during its auction for buying and selling US dollars, 43 million and 500 thousand dollars…”  They have told us Iraq needs about 60 million in currency auctions sales a week to meet the demand of the Iraq economy. So this sales is just about where they expect it.   Also this time the auctions sold only CASH and no large electronic transfers…  [post 1 of 2]

Mountain Goat – Dinar Guru   Did they finally get it under control using the new platform installed by the US Treasury?   Remember it was going over 200 million most weeks and the difference was being stolen and not part of the economy…To me this is very good news…It matters in stabilizing the monetary system of Iraq. We need this before they will pull the trigger on any reinstatement. When the CBI says they need ‘stability” this is all part of it.  [post 2 of 2]

Pimpy – Dinar Guru  I think this [stability of the dinar] is going to be an issue for the first couple of months going into 2023 but after that there should be some stability and then growth for the Iraqi dinar…

Paulette – Dinar Guru  If the new rate does not directly apply to both old and new currency, the CBI will have created a Multi Currency Practice structure in violation of the IMF Article 8.  Therefore, the IMF will not be able to authorize a Reinstatement due to Iraq being in violation of Article 8.  This would also prevent full ascension to the WTO.  Certainly the plan for Iraq cannot be to run their country on USD forever.  The underlying fundamentals for holding IQD are sound.  The implementation of the “Delete the Zeros” project will tell us just how sound.

Militia Man – Dinar Guru  Article:  “Iraq achieves the largest purchase of US Treasury bonds in 10 years”  Iraq holding US Treasury Bonds doesn’t suggest their is an issue with the value of the Dollar or they wouldn’t be net buyers. They know what the UST has in foreign reserves.. As in IQD, being one of the largest. All boats rise with the tide, Iraq included..

Nader – Dinar Guru  Two things you’re gonna see.  When they stop selling and buying [dinars] at the banks for a week or two.  When you see new very small currency come out – 1, 5, 10, 20 maybe 25, 50, 100.  Now you can smile and say they made it.

Pimpy – Dinar Guru  The news as usual has to do with the dinar exchange rate.  Every day one to two articles about changes to the exchange rate, thought about changes to the exchange rate, Central Bank of Iraq saying there’s no change to the exchange rate, Stock exchange playing havoc on the exchange rate, one thing or another is in the news about the exchange rate and this causes a lot of confusion…

Clare – Dinar Guru  Article:  “The volume of trade exchange between China and the Arab countries amounted to 300 billion dollars”  WHAT WE ARE WITNESSING IS HISTORIC!…THAT IS A LOT OF MONEY AND A HUGE “SHIFT” IS TAKING PLACE RIGHT BEFORE OUR EYES!

Pimpy – Dinar Guru  Article:  “Sudanese advisor explains about (fluctuations) the exchange rate of the dollar”  The paragraph caught my attention… “The collection of foreign currency is increasing to meet the requirements of foreign trade and is achieved immediately.”  It looks like Iraq is close to stepping on the international scene and playing a much bigger role here sooner than later, which is exactly what we want.  But it doesn’t help that Iraq has to finish with infrastructure, help build up the private and public sectors and get away from relying so much on oil…they appear to be on track…

Mountain Goat – Dinar Guru   Article:  “WHAT IS MEANT BY CURRENCY FLOAT? WHAT ARE ITS ADVANTAGES AND DISADVANTAGES?”  This article is a VERY GOOD lesson in what it means to FLOAT a currency. ...they can’t float the dinar in the program rate with the currency auctions and must reinstate it to the global markets. Mainly it’s because hint hint…to float you need access to the markets and traders. This will be when we go the bank to exchange…floating the IQD on FOREX can solve much of the issues with the dinar monetary policy in Iraq. This once again proves the move to FOREX should have happened a decade ago when Dr Shabibi, then the CBI director, lined up the dinar to go to FOREX in January 2013…I ask, why now publish such an article?

Paulette – Dinar Guru  IMSO, the rate will have to apply to both new and old currency as the CBI has stated the 3 000’s will coexist with the NSCN’s for at least two years and upwards of ten years.  A few weeks back, the CBI again stated that they are not going to remove any currency denominations when they unveil the 20,000…I hope I am right as the release of the 20 absent a 20,000 is another indication that the new rate will directly apply to all.

Militia Man – Dinar Guru  The move by the US Federal Reserve Bank has their [Iraq’s] attention…What the USFED did was to put a fire under the bus with them in it. The reduction in the dollar sales has had a huge impact on what we are witnessing. The USFED told us they are not backing down. The CBI is obliged to meet their requirements now…We have heard there is an urgency to get this over the line. I am fairly sure the fire is stoked enough to do so.. imo This is good.

Mountain Goat – Dinar Guru  As we end 2022 the news is heating up over what to do with the Iraqi dinar and save Iraq. We have been reading articles for over a year now on how to fix it and increase the purchasing power of the dinar. But the CBI had other plans in the White Paper and they needed to reach historic levels of reserves in order to make their next move. Yes, there is some pain the process but better to suffer a little now and then later celebrate when the prosperity and abundance comes.

Clare – Dinar Guru  Article: “Fixing the dollar and oil in the 2023 budget and the truth about US sanctions.. “Sami’s Spectrum” reveals the details” Quote:  “The price of a barrel of oil, which has been set so far in the general budget, amounted to 65 dollars…while the dollar exchange rate has been fixed at 1450.“

Sandy Ingram – Dinar Guru   In 2004 the CBI set up the foreign currency auctions as a way to control the rate on the black market.  Now we understand it is the black market that has control and the Iraqi people are not concerned with what the CBI is doing. They’re only concerned with the black market…

Militia Man – Dinar Guru  The UST has Iraq’s CBI in a position to make a exchange rate change, imo.. They are likely at a point now there is no looking back in not doing so.  Show time? It looks that way. There were meetings today with the CBI Governor.

Mountain Goat – Dinar Guru  We are told in an article…that the budget will be in parliament ready for review and vote in two weeks. …That pushes it to early January 2023 to begin the voting process. …So, sit back and hang on. The news is about to get really good….

Clare – Dinar Guru  Article “Central Bank Governor: The measures taken will contribute to achieving monetary stability” Quote “Wednesday, an emergency session of the Ministerial Council of Economy….The session was attended by the Governor of the Central Bank of Iraq, Mustafa Ghaleb Makhaif, who reviewed the measures taken by the bank’s administration to control monetary policy, and limit the rise in the exchange rate of the dollar in the local markets.”

Paulette – Dinar Guru   Iraq’s CBI has clearly told us their plans to Re-denominate their currency including adding denominations all the way to 25 Fils (1/40th of an IQD).  This logically requires a change in rate.  As long as that new rate directly applies to the current notes, we will have the windfall we all hope for.

Henig – Dinar Guru  Article: “Economist: Central Bank policy failed and printed 40 trillion dinars of a new category“ Quote: “He stressed that the strategic vision of monetary policy is wrong, and the Central Bank has printed 40 trillion dinars of the new paper currency of the category of 20 thousand dinars.“

Sandy Ingram – Dinar Guru  Why the IQD/USD exchange rate matters to people in Iraq – Iraqis who are paid in dollars have more purchasing power…people paid in dinars have less purchasing power since imports and exports are paid in dollars (including oil revenue)…the new prime minister of Iraq says he wants to increase the value of the Iraqi dinar…