Dinar Observer Daily

Mountain Goat – Dinar Guru   Please just be patient!  The reinstatement is coming and I firmly believe from what we now already know and are about to witness is a major part of the Banking Reforms that everything else was geared up to support over the past 10 years.   Iraq is about to get out of the sanctioned mindset altogether and return to common global banking practices of how they will be doing business with the rest of the world going forward.

Iraq’s Central Bank sells over $1 billion in one week

Baghdad (IraqiNews.com) – Over the last week, the Central Bank of Iraq (CBI) sold more than $1 billion worth of US currency.

The CBI sold over $1.08 billion at a daily rate of $217.5 million, higher than the previous week, when its sales were approximately $825.5 million, according to Shafaq News.

The highest sales of the US currency took place last Tuesday, when it reached around $241.8 million, while the lowest sales took place on Sunday, when it reached $208.2 million.

The CBI’s remittances of currency abroad during the past week were nearly $825.9 million, representing an increase of 91 percent compared to cash sales, which reached $72.7 million.

The CBI’s US dollar sales aimed to finance foreign trade in the form of transfers and cash sales.

While cash sales were done at an exchange rate of 1,310 Iraqi dinars, the Central Bank of Iraq supplied US dollars for letters of credit and international settlements for debit and credit cards at a rate of 1305 Iraqi dinars.

Iraqinews.com

Dinar Investor – Jeff  What was the number on thing in the month of January Iraq kept stating in all the news articles?   How they achieved critical stability.  In order for Iraq, the number one thing they have to do is achieve overall stability, to be  eligible to revalue.  Article quote “For Iraq to further continue on the path of stability and progress, an enabling environment  will prove essential” She’s stating Iraq is on a path of stability and progress and continuing in that direction will prove  essential.  Meaning allowing them to revalue the currency and get back on the world stage. 

Samson – Dinar Guru  Article “Al-Sudani: We received a letter from Washington agreeing to end the tasks of the  international coalition”  

Sandy Ingram – Dinar Guru  Iraq’s tourism could easily increase to over 10 billion US dollars a year, comparing it with Egypt’s tourism.

Militia Man – Dinar Guru  The amount of construction and all those things that we’ve talked about are not going to be affordable at 1310.  They specifically did a tripartite budget which they haven’t totally exposed yet…But notice the things they have done.  They were in the UN assembly… Davos…Munich and they were doing deals behind closed doors with all these different countries of the world…Middle East, United States, Great Britain and on and on and on…Are they going to be doing this to stay where they were before or are they going back to a previous era?  1169, 1182, 1460, 1310, they never went international with those rate…

Pimpy – Dinar Guru  Community Comment: “IMO I think a $1.28 would be a sweet spot for the RV and then go up from there.”  $1.28 would be pretty nice if we can get it but IMO if they want to make sure not to really crash their economy they’re going to have to go up in smaller increments…I know you guys don’t like to hear that and it makes me the bad guy.  You might see it go somewhere from…1310 for every dollar…to around 1,100 dinars for every dollar or maybe even 1,000 dinars for every dollar, then from there down to like 700s…small increments.

Dinar Investor – Jeff   When Iraq revalues both the U.S and U.N. will automatically lift and remove their sanctions.  When Iraq revalues it’s an automated step and we have to give them their sovereignty back.  We have to show the world Iraq has power and control over their own country…The rate change is here in March.  It’s not a secret…

Mountain Goat – Dinar Guru   …just today another article came out from the CBI telling us about yet more steps in the RV/Reinstatement process are about to be implemented…new developments…push us even closer to the RV/Reinstatement…The news could not get any better, aside from having the reinstatement itself.

Samson – Dinar Guru  Article:  ”Parliamentary Finance directs a request to the US Treasury regarding sanctions on banks“

Militia Man – Dinar Guru  A lot of people out there talking about this LOP business.  The bottom-line is a LOP  doesn’t do anything for Iraq.  First off I don’t believe for a moment the IMF would allow them.  Iraq’s focusing on telling  everybody their inflation has been contained for years.  There’s no hyperinflation so a LOP is completely out of the question...

Sandy Ingram – Dinar Guru  The problem for people in the United States is no bank in the US will do any transactions using the Iraqi dinar.  Until this changes we have to find other ways to pull our profit out of Iraq.  We can do this.

Pimpy – Dinar Guru    Community Comment: “Once the 3 zeros are deleted, establishing IQD’s REER, then the rate will go up in increments.”  That’s not what you want.  You do not want them to delete the zeros before the rate goes up.  If they delete the three zeros off your currency then your 25,000 dinar becomes a 25 dinar and then they raise the rate?  That’s not going to help you.  We’ll see what happens.

Dinar Investor – Jeff  Article: “Al-Sudani reveals the intention to end the political role of the United Nations mission in Iraq”  Do you notice how they’re talking about removing the remaining US coalition forces and the United Nations together at the same time?  That’s because Iraq’s going international.  The UN has chapter VII sanctions on Iraq and the US has OFAC sanctions on Iraq…Both parties need to remove their sanctions off of Iraq... They’re discussing doing both steps simultaneously at the same time.  Not coincidence.  It’s because Iraq’s preparing to revalue and go international.

Militia Man – Dinar Guru  Article:  “Government advisor: Iraq is on the cusp of a transitional stage in the development of promising economies globally”   Is this the major announcement or a lead into one, that Salih told us about? If it isn’t an announcement it surely is a good lead into one…Awesome news indeed.. International ships arriving, partnering with the private sector, integration with the global economy, compliance with with international standards. Surely we can all see the writing on the wall.. Yep.. Powerful.. imo

Clare – Dinar Guru  Article:  “The Baghdad dollar faces a “major withdrawal” at the beginning of the week, but the exchange rate is stable“

Mountain Goat – Dinar Guru  I will tell everyone who has been in this speculative investment for a long time, this couldn’t be a worst time to sell your dinar. I compare it to a severe storm. You must have the guts to weather the storm… when the storm finally does really end, it’s over and done and then you move on to a better life knowing you weathered the storm and received the blessings that come afterwards. The rewards are great.

Dinar Investor – Jeff  Article: “Sudanese Advisor:  Iraq is on the cusp of a transitional stage in the development of promising economies globally”  Yeah, because they’re about to revalue and go international…It is right in front of our faces…It’s almost here.  They needed the first quarter to prepare for it after achieving stability from the December elections.  March is critical to us…

Pimpy – Dinar Guru  If you’re going to exchange your Iraqi dinar, let’s just say for the sake of this particular example…3 to 1, congratulations you now got millions of dollars.  So you go and you swap your currency and they’re saying, ‘Hey, you got $3 million in your account.’  Yah!  You can’t say to them I want $3 million dollars because the bank doesn’t carry money like that no more. They might say…we are going to allow you to carry out $5,000 for today cash but we’re going to have to set an appointment with you to come pick up the rest of the cash…If they have to order currency for you, they’re going to charge you a fee because they have to pay a fee…

Militia Man – Dinar Guru  One of the things that’s important is what we didn’t have in the past was banks talking to us at the length that they are now…

Sandy Ingram – Dinar Guru  There is an organized effort in Iraq to never revalue or increase the value of the currency abasing the US dollar or to provide profits for people in the west…Between the different factions within Iraq, revaluing their currency, even when they can afford it, may not be on their agenda…

Dinar Investor – Jeff  Article: “Observer: Ending the mission of the Untied Nations office in Iraq takes Iraq out of Chapter Seven“.   The UN exiting Iraq and no longer working with them automatically will lift and remove the UN Chapter VII sanctions.  But keep in mind the UN will not be exiting Iraq until after Iraq has already revalued the currency.  Iraq has to revalue before the UN will exit out.

Pimpy – Dinar Guru  You’re going to see IMO a slight increase in the exchange rate, probably within the first quarter of this year…I still feel in my heart there might be some kind of change to the exchange rate the first quarter of this year. It’s not going to be anything major but it is going to be an increase.

Militia Man – Dinar Guru  Article quote  “…Iraq will return to being a strong economic player.”  If they’re not a strong economic player at 1310 why would they be tomorrow?  …Iraq’s not going to go international until they show us a Real Effective Exchange Rate.  I’m looking forward to it.  I think it’s going to be powerful. 

Dinar Investor – Jeff  Article: “The Central Bank of Iraq decides to restore the mechanism for financing Iraq’s foreign trade, starting next March” …The Central Bank of Iraq is preparing the regular banks of Iraq to start being prepared to be able to trade the dinar against foreign currencies...To trade the dinar against other foreign currencies the dinar itself must be tradable…The step of revaluing the currency is what makes it tradable against other currencies… Again, what they’re telling you here is they’re going to start preparing for this.  They’re not actually going to start doing it.  They’re preparing to do it March 1st…This is a step of them setting the stage before the big event.

Sandy Ingram – Dinar Guru ‘If this infrastructure happens, of course, it would be good for Iraq’s economy and GDP.  However, that does not translate to any RV or RI…It could strengthen the dinar, but the term “strengthen” does not mean higher rate like dinarland is hoping for.  It simply means the economy is good and the currency is not weak…‘ SANDY:  You are correct.  We can only hope the currency increases in value against the US dollar…It’s our hope the value will increase against the US dollar with or without an RV.

Clare – Dinar Guru  Article: “Sudanese Advisor: Iraq is on the cusp of a transitional stage in the development of promising economies globally” Article quote:   “…international studies estimate that the share of natural resources per square kilometer relative to the area of ​​our country is the highest in the world.”

Pimpy – Dinar Guru    A lot of you are asking me…how does the deletion of the zeros affect the stocks over there in Iraq…I know we were told that the deletion of the zeros comes off the exchange rate, which is wrong.  It actually comes off of their currency, their bank notes.  It’s called a redenomination…Since 2013 they’ve been talking about the deletion of the zeros off the currency.  They put the zeros on when inflation is really high…Now that their inflation has been kept in check for quite a while they’re talking  about removing the zeros off the currency.  No where in there does it say the exchange rate.  It says the change does not affect the currency’s value against other currencies.  Instead it simplifies transactions and improves the economy’s overall efficiency.  [Post 1 of 2….stay tuned]

Pimpy – Dinar Guru  The ISX is the primary stock exchange in Iraq…the redenomination of the Iraqi dinar will not directly impact the ISX or the stocks traded on it.  Stock prices are determined by market forces such as supply and demand…If there’s any kind of effect on the Iraqi Stock Exchange it would be that people might panic a little bit…The prices are all done in US dollars.  It’s not in Iraqi dinars…so redenomination is not going to have any effect the value of the stocks on the stock exchange.  If they change the exchange rate against other foreign currencies it will affect the stock prices… [Post 2 of 2]

Dinar Investor – Jeff  Article: “The Prime Minister of Iraq receives a new invitation without an appointment to visit Washington”  Sudani will be visiting Washington after they’ve revalued their currency to discuss getting their possessions back from the United States, such as all of their OPEC oil dollars...We have other collateral and assets on them, we need to give them back.  That’s the reason he’ll be going to Washington after the rate has changed…