Dinar Observer Daily

Pimpy – Dinar Guru  …here in the United States there’s a restriction on the currencies {Iraqi dinar].  You used to be able to go into Chase bank and other banks to buy…but they stopping selling for for now.  Once whatever this is that  happens happens obviously they’ll remove the restrictions and allow the banks to do the exchange.  When I talked to my bank manager which I’m at Wells Fargo and I asked him what do I do if this happens…He said it’s real simple.   Bring the currency into me.  He said obviously if you have millions of dollars we’re not going give you millions of dollars to walk out with a shopping cart.  It doesn’t work that way.  We would have a set appointment so they can order that amount of money.  I said ok.  He says if you’re just depositing into your bank account, bring in the money, we validate that it’s real.  I’ll tell you what the exchange rate is and how much money is going into your bank.  If you agree we charge you like 1% or 1.5% fee.  He said it just that simple and I said wow ok…

BGG ~ This is wildly inaccurate information. Wells Fargo Buy/Sell spreads are published and available for all to see. It is approximately 18-19% on KWD (currently). To expect any different on a “thinly traded exotic”… (as in “more exotic” than the KWD) is simply not realistic.

Adam Montana – Dinar Guru    I’m sure a lot of gossip and speculation surrounding the elections will be affecting the Dinar world.  If Trump is going to stay in the White House, Iraq certainly has a good reason to count on support from the US in their revalue (increase) of their currency.  If Trump will not be staying in the Oval Office, he could make one of his last plays a major push to help Iraq in any way they want.  No matter what, President Trump still has an influence on foreign affairs, policy, and support for Iraq until at least January 19th 2021. And we know he won’t be doing anything to hinder Iraq in an RV. [post 1 of 2]

Adam Montana – Dinar Guru   That may be why we aren’t seeing any actual news about Iraq’s currency as it directly relates to the US presidential election… because no matter how this goes, they still have the support of the US and regardless of how things turn out, we have a few months where they are in a great position, with global support, and they can flip that switch with no substantial resistance from one of the most influential and powerful nations in the world – the USA.   With all that said…my suggestion is simple.  Hang tight, wait for the official RV announcement…GOOOO RRRRRVVV!!!   [post 2 of 2]

Dinar Investor – Jeff   Article:   “The agenda of the parliament session for next Saturday and begins with a bill to finance the fiscal deficit”  Next Saturday (November 7th) they’re doing the second reading of the borrowing law.  Remember there is nothing else left.  This is the last item we’re waiting on.  We’re not waiting on a budget or anything.  We’re waiting for one last thing.  This  …So they will be doing the 3rd reading on the borrowing law Saturday November 21st…Don’t forget they can change the rate any time when they finish this law…this is huge.

Mountain Goat – Dinar Guru   Article:  “MINISTER OF FINANCE ANNOUNCES THE DATE OF PAYMENT OF SALARIES”    So how can Iraq all  of a sudden arrange short term loans to pay for the salaries for the rest of the year? Could it be that their currency is about to go global?

MilitiaMan – Dinar Guru   Article:  “Iraq is preparing to receive donor countries next week”   Quote:  “…the ninth of this month will witness the presence of donor countries to support and finance projects...”  Looks like they know something… Monday next, donor countries are coming into support and finance projects… Well wouldn’t that mean they are coming in as an international IMF Article 8 compliant countries. Surely they are not going to show up and finance in the trillions of Dinars. As that is not an article 8 compliant rate now is it?

Mountain Goat – Dinar Guru  Article:  “IRAQ: REVENUE DIVERSIFICATION CONTRIBUTES TO THE ACTIVATION OF THE PRIVATE SECTOR”   This article should be nothing new to us. This is all over in the White Paper. Diversify, diversify, diversify! This revenue alone will surpass or at least rival the oil revenue. Imagine how rich Iraq is going to be if they can get the employee salaries (even 50%) also moved over to the private sector? That’s reserves that will amount to about 2.5 Billion a month. Rich! Rich!, Rich! Right now, they are the 4th riches country in the world. Oh – and you have some of their currency? Oh – and you bought it for less than a penny on a dollar…SMART!

Pimpy – Dinar Guru  Something is going on and I can’t quite put my finger on it…over the last two weeks or so I’m paying attention to what’s going on with currencies.  On the back side of things there’s a lot of talk.  There’s always a lot of talk.  What gets me is this.  There is a lot of movement involved in the IQD…there is a lot a lot of movement between countries and central banks…that’s probably an understatement.  There’s a LARGE amounts of IQD being moved around.  We’re not exactly sure what’s going on and I don’t want to jump to conclusions but whatever this event is that’s happening,  Whatever people are getting prepared for…the IQD seems to be playing a pretty damn big role in whatever this is…nobody has been able to figure out exactly what the hell is going on with the IQD and why these central banks and other entities are making such a huge move on the currency.  For a currency that supposedly has no value…

Delta – Dinar Guru  THESE ARE MESSAGES FROM IRAQI SOCIAL MEDIA TO THE NEW CBI GOV… “We hope that the value of Iraqi cash will be strengthened and that we can eliminate the zeros and return in a strong currency not necessarily at its previous value…”; “Once the zeros are removed from the local currency, poverty and debt will be eliminated and the mortgage stake is lifted. Then the value of the Iraqi dinar will return to the equivalent of $3.3778 as in 1971 and 1973…”; “with a return to the circulation of small coins, such as the rest of the countries, to preserve people’s rights to buy and sell…” THAT WAS JUST A FEW FROM THOUSANDS OF MESSAGES TO NEW CBI GOV…ALL ASKING THE SAME…RAISE THE VALUE AND COME OUT WITH NEW LDS…OVER A WEEK OR SO AND IT’S NOT STOPPING…THEY WANT THE CBI TO TAKE THEM BACK TO 3.22…

Delta – Dinar Guru   Article:  “The Central Bank opens an account with Euroclear to develop the performance of foreign reserves”  Quote:  “This step is important in the work of the Central Bank of Iraq, as it simulates international practices in the process of investing foreign reserves…”  AWESOME NEWS… AMAZING…CBI GETTING READY TO GO INTERNATIONAL AND OPEN MARKET ECONOMY…

MilitiaMan – Dinar Guru   Article:  “Finance Minister: The salaries of the employees will be paid within two or three weeks”  Quote:  “He pointed out that the salaries of employees for the month of last October will be paid, perhaps within two or three weeks, in the event that the borrowing law is not approved, but in the event of voting on it, it will be launched directly.”  There you have it. They are confirming that the salaries have a time frame to be paid. It all hinges on the rate at which to pay them, imo.  Take note that they are saying that if the borrowing law is passed they will be paid directly.  If not and it is not passed they have an auto pay scenario of within two to three weeks.  …they have given us a time frame. There words not mine.. Huge...The rate has to be exposed to vote on the law and then that can pay the salaries, in that order. IMO.

Kaperoni – Dinar Guru   …the central bank has to follow strict monetary policies. Any growth of the Iraqi dinar will be based on the success of Iraq’s economy.

Austin-Powers-For-PM – Dinar Guru   Article:  “A Source Confirms: The Continuation Of The Suspension Of Employee Salaries For 10 Months”  Quote:  “An official source in the Ministry of Finance stated, on Sunday, that instructions were issued not to disburse any check for salaries of state departments.”   Bingo!  We have finally hit the Schwerpunkt of this whole process. They are forcing action instead of promising that the salaries will be “Next week.” The article basically was telling the citizens “You ain’t getting paid.” Nobody in their right mind would put that article out under normal circumstances. It would lead to rioting. It also broke a pattern, which means it needs to be replaced with another pattern. They are telling the citizens, in an indirect way, they are going to get paid electronically and that everything is about to change. There is no going back.

Dinar Investor – Jeff   …Saturday of last weekend they did the first reading of the borrowing law.  They average about a week and a half between each reading…they are on track to have the borrowing law done middle of November … that’s the last thing we’re waiting on so they can change the rate anytime after they finish the borrowing law…watch the borrowing law…

Delta – Dinar Guru  …THEY DID REPORT IN IRAQIA TV THAT WHITE PAPER WAS DONE BY US…AND THEY SAID BY US HELPING IRAQ WILL MAKE INTERNATIONAL COMMUNITY SUPPORT IRAQ…SO AS WE TOLD YOU IN THE PAST THE US DEVALUE THE IQD AND THEY WILL RI BACK FOR IRAQ…CBI TOLD US VIA NEW GOV…HE IS GOING TO MAKE NATIONAL CURRENCY STRONGER.

Kaperoni – Dinar Guru  The recently-announced White Papers is a good step in the right direction but all it is is ink on paper. Iraq …needs to make changes…until that happens nothing will change.

Pimpy – Dinar Guru  ...on the back end of thing right now there is a lot of chatter.  I mean it’s increased…large amounts of IQD have been moving to a lot of different central banks and into a lot of different countries.  That’s not a secret…what we can’t figure out is why.  There seems to be some kind of deadline on all these things for some reason.  The deadline is in the month of November.  What’s that means? I don’t know.  But there’s a lot of rumors.  I try to avoid rumors because I don’t want to talk about anything that I can’t prove.  But I will at least let you know that is out there and even people I know that deal in the IQD are purchasing personally IQD themselves.  It kind of makes me wonder.  I don’t know what they know.  Either they know and they’re just not sharing or they don’t know and they’re just preparing just in case…a lot of changes coming real quick…

Mountain Goat – Dinar Guru   …reinstating the IQD on FOREX is exactly what we wait for but it has not happened as of yet. This can not yet happen until the OFAC sanctions are lifted. The banks simply will not touch the IQD until this happens...

Delta – Dinar Guru   Article:  “Central Bank of Iraq launches electronic platform for letters of guarantee”   WHEN CBI TALK WE LISTEN…VERY IMPORTANT STEP…BEFORE GOING GLOBAL…IMO…THEY ALSO HAVE AN INSTRUCTION VIDEO FROM CBI ON HOW TO USE IT.

Kaperoni – Dinar Guru   Recently the central bank has limited the daily currency auctions which is affected the spread. It is reported at over 1250 to $1. This is around 5% which is out of compliance with the IMF requirements… Iraq must maintain stability within 2% or less in order to meet compliance and transition out of IMF Article XIV to VIII…Iraq must get their spread in compliance and hold it for at least 90 days before the IMF would consider allowing them to exit Article XIV.

Mountain Goat – Dinar Guru   …We still may be on course for an early January 2021 release of the reinstatement. But again, I am telling everyone we still need to see more positive news from the Central Bank on this matter. We have gotten a lot of good news about meetings they have had on what to do to try to resolve the financial crisis. These meetings included much talk on alternatives of what to do with the dinar. Some wanted to put in on a float, devalue it, print more currency, so on and so forth...

Dinar News Update –  The United States and the Trump team negotiated another peace agreement in the Middle East.  Sudan is the 3rd country to do so in the last four weeks.  They signed the Abraham Peace Accord with Israel several days ago.  This is HUGE news.  The United Arab Emirates, Bahrain, and Sudan are the first Arab nations to normalize relations with Israel in over 25 years.  They join Jordon and Egypt. Security and stability is sweeping across the region.  At least 6 more nations are expected to join the accord.  The gurus suspect Iraq could be one of them…Stay tuned as this story unfolds…the latest guru posts will continue below.

Dinar Investor – Jeff  …This is what I think the chain of events will be…the borrowing law has to get done first.  Then my opinion is I think they will change the rate…they haven’t even started creating the 2020 budget because the rate hasn’t changed yet…I don’t think they will complete the borrowing law until very close to around November 21st.  I have my eyes right now on around the second half of November…

Mountain Goat – Dinar Guru   The news this period is all about Iraq not having the funds to pay October salaries. The borrowing law is not yet approved and many in parliament do not want to approve more borrowing. Also again more chatter about the currency auctions and what to do to fix them and create more transparency. But there will NEVER be full transparency since the process in the first place simply does not allow it. We all know these auctions need to be cancelled and Iraq needs to go back on the dinar for payment of imports. But the demand for the dinar must first be established or no one will want to accept the dinar for payment. This is important for us investors to understand.

Dinar Investor – Jeff   We’re in a great position…don’t forget Iraq is at their highest level of stability that they’ve ever achieved.  Kazemi has gotten more done than they’ve ever gotten done in a long long long time.  Kazemi’s gotten more done just in the short period of time he’s been there then the entire country’s gotten done since they released the new Iraqi dinar.  So we’re in a great position… stability is the most important thing before that rate can change…

Pimpy – Dinar Guru  I notice that there are people that are getting restless and these people are the new people.  What I meant by that is they haven’t been holding the Iraqi dinar for about a year and they’re complaining already.  I tell you there’s people that’s been in this game for 15, 16 years all right.  You can’t get frustrated.  All you can do is keep an eye on it.  There’s been more positive news IMO in 2020 than we’ve seen in a long time that I could remember…stay positive.  There are some other good news coming.  I’m anticipating that going to happen this week…

Pimpy – Dinar Guru   …I want to make a point about the Iraqi dinar.  Once these nations all sign these agreements (peace agreements) there’s these new trade agreements that are coming BTW in which they can all do business with one another.  This will bring a lot of business very quickly into Iraq as well as surrounding nations there but especially in Iraq.  Iraq is the hub into the Middle East…Other countries are going to be investing money into rebuilding Iraq.  It’s starting from scratch.  This is going to bring a lot of jobs there.  This is great news for both short term and long term when it comes to Iraqi dinar...

Pimpy – Dinar Guru  Article:  “Al-Kazemi spokesman: More than 25 officials are behind bars”  Al-Kazemi is no joke.  When he is draining the Iraqi swamp he is draining the swamp…quote “25 officials in addition to the corrupt whales [Super wealthy individuals] are under bars and under investigation during the first 2 months of al-Kazemi’s government.”  This is what I’m talking about man.   Making these kinds of moves.  Let’s show the world that you’re capable of handling the corruption.  I love this news…this is gonna look really good in the eyes of the international community…Al-Kazemi…seems to be the man of the people and I love to see that…

MilitiaMan – Dinar Guru    Article:  “Parliamentary Finance confirms the government’s printing of new currencies without financial cover and describes the act as “dangerous”   …we see they speak if printing currency with out “cover”.  Well “cover” to me may mean a new rate is needed now, as the CBI has not exposed it yet. They printed new notes, not larger triple zero notes…

Dinar Investor – Jeff  …the Borrowing Law.  Here’s what I see them doing.  They’ve done the first reading and they haven’t changed the rate yet.  What that suggests to me is that they are most likely not going to change the rate until around the end of the approval process of the Borrowing Law.  Typically all three readings of a law take anywhere from 30 to 45 days…they’ve already did the first reading…