Dinar Observer Daily

Paulette – Dinar Guru  Community Comment:   “At 1310 they could roll it [the budget] out but would run out of money due to high cost of materials needed to be brought into country without a new rate, a new rate will allow them to buy more materials …1310 will bankrupt them internationally”  I am not sure why they would run out of IQD to bring materials into the country.  I thought that they have to pay for all imports with USD,  The IQD is sanctioned and not able to be used to pay for imports.  Isn’t this the whole reason for Currency Sales of 200 million plus daily in order to pay imports?

Breitling – Dinar Guru  There’s an email being blasted out about Warka [Bank in Iraq] selling stock in Warka, where you can buy shares and own a share of Warka.  I have not been able to confirm that and I know people who work at Warka so that’s not a good sign.  Even if they did offer that I sure as hell wouldn’t get into that…It’s backed by the CBI but it’s also sanctioned by the CBI.  Until they open everybody’s account I’m not doing anything with Warka.  I’m not afraid of losing my dinar or anything like that and if something like that did come up we have a lock tight mother scratching lawsuit that we will win and they will suffer.  I’m not worried about that.

Militia Man – Dinar Guru   …they are doing a lot with the budget and finalizing  disbursements and allocations. They are getting ready to spend money.  Some of those time frames are coming on us quickly…I think things are pretty darn exciting.

Pimpy – Dinar Guru   Article:   “The Iraqi delegation in Washington paves the way for the Sudanese”  Looks like the delegation from Iraq is here in the United States meeting with our officials over here in Washington.  Looks like they’re doing all they can to prepare a visit from Al-Sudani…

Militia Man – Dinar Guru  They want to ween themselves off the dollar.  We’ve seen numerous things about the dollar being phased out because the multi-currency practices aren’t allowed and the black market is an illegal market…they don’t want that illegal side of things anymore…

Samson – Dinar Guru  Article:  “The Iraqi delegation in Washington paves the way for the Sudanese”  Quote: “…there are usually preliminary meetings related to the strategic framework agreement, prior to reaching the summit meeting between the two parties,” and it is likely that “this meeting will include US President Joe Biden and Iraqi Prime Minister Muhammad Shia’a Al-Sudani.”

Mountain Goat – Dinar Guru   Article:  “CENTRAL BANK THREATENS EXCHANGE COMPANIES WITH UNPRECEDENTED MEASURES”  Quote:  “The Central Bank of Iraq issued new directives that included strict measures on exchange companies, reaching the point of withdrawing their licenses and denying them access to the window of buying and selling currency.”  WOW!  So the CBI is VERY serious and its about time!

Pimpy – Dinar Guru   I know they have been approached by the BRICs  but you’re not going to see them go because the IQD and Iraq is still under sanction and restriction by the United States government.  Not to mention we hold their gold and we hold their foreign asset reserve.  So no they’re not going make that move.  I wouldn’t worry about it, not at the moment…

BGG ~ Personally, I think it would be the best thing in the world for the Dinar Investor if they did join some “Brics type” union APART from the US. They could even be a reserve currency (since their oil would be bought and sold in Dinar)… meaning the currency you hold would be vastly more valuable. Forget what the US thinks…

Petra – Dinar Guru   What is stopping them from moving forward?  …yes, the rate…AND…Sadani’s integrity with the people, as well as Alaq and his position as “independent” from the GOI...With the article indicating the Parliamentary Finance Committee recommending that the Budget to be released on the 18th is a “message” to Alaq to move on the rate!

Kaperoni – Dinar Guru  Question:  “US [IQD] paper holders should be able to exchange in the US for US$ at some point in the future?”  The dinar is a currency of a country therefore it has monetary value that can be exchanged at any time at its current value. Any alternative process is unknown…

Militia Man –  Dinar Guru  Iraq has been destroyed and war torn.  They are going to need the IFC (International Financial Corporation)…Their main business is taking countries to the private sector.  It’s phenomenal.  Anybody that says, ‘This will never happen.  Is not going to happen.  It’s a scam.’  They’re misled.  That’s all there is to it.  This country is going international…

Jeff – Dinar Guru   Everybody’s…focusing on releasing of the the budget monies.  They are under the assumption that releasing the budget monies brings forward the rate change.  I’m sorry but it doesn’t work that way.  There’s other steps that have to happen that introduces the rate change.

Pimpy – Dinar Guru  Article: “Parliamentary Finance likely to launch budget funds after July 18”  So here we are.  We’ve passed the budget.  It’s made the Gazette and still they have not allocated out the money.

Clare – Dinar Guru  Article “Central Bank: The volume of foreign reserves increased to 113 billion dollars” Quote “Today, Saturday, the Central Bank of Iraq announced that the volume of internal debt has risen to about 70 trillion dinars, and the volume of foreign reserves to 113 billion dollars.

Petra – Dinar Guru  Question: “Would it be your opinion that the UST folks showed up to click Sudani’s heels, or is it more than that?”   It is clear Sadani let them in because his people could not get it done, so they brought in “the pro’s” to make it happen…He wants this now…they [UST] were not welcome with open arms because it demonstrated their inability to “perform!”...if they had done their job…there would have been no need for the UST to travel back to Iraq…Sadani made the commitment…the UST is there to get it done. As to their role, I can only speculate that it was due to the lack of progress with executing the new rate, new notes, etc.

Enorrste – Dinar Guru  They’re going to switch from a ‘Keep my money in the mattress’ economy to forcing these people to take their money out of the mattresses and to put it into banks and the banks will then send the money to the central bank and the central bank will burn it...If they want to do any international trading at all they’re going to have to use electronic methods such as Visa/MasterCard…The process is beginning.  This is really key to moving toward getting to the float, which is what we’re looking for.

Yada – Dinar Guru  Article:  “A statement from the Central Bank regarding the campaign to support the dinar”  Quote:  “…the Deputy Governor of the Central Bank, Ammar Khalaf, announced the success of the campaign to support the dinar, and while confirming the application of controls that helped stabilize the exchange rate, he pointed out that there is no problem with the
amount of foreign currency supply.”  This statement will nullify a few in dinarland who think there too much money out there.  Fact is, that money in the central banks of other countries will be used to invest and buy in Iraq because they will only be using dinars. We are in the best of positions, the one about to enter the banks.

Militia Man – Dinar Guru  Sudani…asked to come to the USA and was denied. My view is he was told…three items to get to work on. He did. We now see the UST show up after. So, it appears an assessment was made as to where they were in getting this completed and likely found they were sitting on the ball on the side lines.. not good. Hence the arrests, the Rafadain Bank shake up, etc.. The level of focus now is fascinating to me. The IFC / WB still in town!!  Al-Alaq having had a progress report that looked good !

Kaperoni – Dinar Guru  You’ve got a brand new 30 to 50 story Central Bank building that’s going to be state of the art and you’re going to be represented amongst the world as the Central Bank of Iraq but you’re going to have a weak currency or a currency that doesn’t reflect the actual economic success of your country?  I don’t think that’s going to happen.  I think that’s why they’re launching…the stock market, the diversification of the economy, all of that is a prelude to 16 months from now.

Mountain Goat – Dinar Guru   Article:  “IRAQ: REVITALIZING THE STOCK MARKET”   Article quotes:   “…there is an urgent need to activate the role of the stock market as a mirror reflecting economic activity in the country“;  “It is said that the size of the cash block that is hoarded outside the banking circulation space amounts to about 70 percent of the cash issued”  Remember a lot of this cash is outside the country in our pockets and they won’t get it unless they reinstate the dinar and we can go to the bank and exchange at a rate we want as investors. Heck they sold us this currency in a time of need and now, as they are so rich, they have to pay us for it with a higher exchange rate.

Clare – Dinar Guru  Article:  “Wholesale corruption” in the Rafidain Bank… the most prominent reasons for the overthrow of its administration (documents)”   Quote:  “The current management of Al-Rafidain Bank, which has been withdrawn, is accused of several cases, including causing waste of public money and mismanagement, and making administrative transfers on the basis of nepotism and nepotism away from the standard of competence and integrity, and the rise of unqualified people to assume administrative positions.”

Enorrste – Dinar Guru   Getting out of Article 14 of the IMF charter  is essential for them to do what’s called international trading.

Babysmom – Dinar Guru  OK I JUST GOT PERMISSION TO SHARE THE FOLLOWING INFO. THE CITIZENS OF IRAQ WERE TOLD THEIR RATE IS CHANGING TO ONE TO ONE, THEY WERE ALSO TOLD THAT THE RATE WILL FLOAT IN IRAQ. THEY WERE TOLD IF THEY DIDN’T TURN IN THEIR 3 ZERO NOTES THEY WOULD MISS THE OPPORTUNITY TO CHANGE THEM FOR THE LOWER DENOMINATIONS. THE 1:1 RATE WILL BE IN IRAQ ONLY AND THEN WE’LL FLOAT HIGHER. OUR RATE WILL COME OUT ON FOREX HOPEFULLY AT A MINIMUM OF$3.81 USD TO 1 DINAR.

BGG ~ Complete B.S. This person may well believe this to be credible information, but somewhere “up the line”, the source is just making it up as they go…

Militia Man – Dinar Guru   Iran is talking about circumventing using the dollar, which they’ve been after all this time but now they want to use the dinar.  There’s obviously something going on.  They know there’s some change is about to come and they want to be a part of that.  They are one of the largest trading partners for Iraq.

Paulette – Dinar Guru  It looks like the weekend of 7/14-7/16 will be a Holiday weekend with the New Year on 7/18.  Shabs said “…..after Eid, before the New Year…..”  Perhaps the next target since they missed 7/1…

Pimpy – Dinar Guru   Question:  “Kuwait has $3.29 dinars.  What do they have that Iraq doesn’t?  A currency that’s free of sanctions and restriction is what they have. 

Sandy Ingram – Dinar Guru   The good news is the mainstream news media is saying the IQD is expected to increase in value as the country becomes more stable.

Enorrste – Dinar Guru  JP Morgan [bank] is ready to leap into the fray…Their words are amazing, ‘Bring it into the world trade system’… They’re [Iraq’s] going to go from being a little regional area to being a world trader thanks to the efforts of JP Morgan signing this agreement with the Central Bank of Iraq.  They’re ready to roll…You can’t do this in Article 14 of the IMF charter.  I suspect the IMF is behind all of this because they said to the biggest bank in the world JP Morgan get your ass over there and get this thing on the road.  I wouldn’t be surprised to see a change to Article VIII within months…

Clare – Dinar Guru  “Parliamentary Finance Talks About The Stage Of Implementing The Budget.. What Are You Waiting For?”  Quote “…We will wait for the court’s decision regarding the contested articles that there will be a state order to be issued, and in the event that it is not issued, the Finance will continue.”

Mountain Goat – Dinar Guru   There is not much more we can do but relax and let the reinstatement come to us. ...we have not heard even an update on the project to delete the zeros. Normally Ali Al-Alaq is real good at giving periodic updates on this event. He has been back in the seat of CBI governor now for almost 6 months and still no word. I am told by my CBI contact that they are still working on it and plan to do it very soon. This is all the news I can get on this topic.