Dinar Observer Daily

Pimpy – Dinar Guru   Does the future look bright for Iraq?  Yes, as long as they start getting their shit together and their government starts doing the right things necessary like providing funding for infrastructure and helping with education that helps contribute to the currency exchange rate.

Sandy Ingram – Dinar Guru  Currency Mayhem – IQD from USD to CNY.   Article:  “Iraq, short on dollars, moves to purchases with Chinese yuan”  To compensate for a foreign currency shortage Iraq Central Bank said the country would soon trade with China directly in Yuan…This happened …because the Iraqi Parliament approved a currency revaluation in response to a shortage of U.S. dollars… The Federal Reserve Bank pulled back on U.S. currency in Iraq because it was proven that US dollars were flowing freely into Iran and Syria…  [Post 1 of 2]

Sandy Ingram – Dinar Guru  This is the first time imports from China will be paid for in Yuan. Before now all imports were paid for in U.S. dollars.  The Central Bank of Iraq said this move could boost the balances in Iraqi banks that have accounts with Chinese banks.  It would also boost local bank balances through the central bank’s U.S. dollar reserve accounts with JP Morgan…It would work something like this.  The Iraqi bank would convert U.S. dollars to Yuan and pay invoices in China [Post 2 of 2]

Mountain Goat – Dinar Guru  …the Central Bank of Iraq launched the second package of reforms. In a remarkable statement, the Central Bank of Iraq announced, a plan to allow trade with China in Chinese yuan instead of dollars, in an apparent attempt to improve access to foreign currency and reduce dependence on the dollar. WOW! …we can see this is good news and also bad news as it may lead to complications if the CBI does not manage it correctly. …Would Iraq sell oil for Yuan? …if Iraq did make this move this would certainly push them even more to reinstate the dinar as an international currency once again but only if the CBI can also control these new currencies. We just have to wait and watch. It won’t be long before we see what happens.

Pimpy – Dinar Guru  Question [If they remove the zeros from the currency what will happen to the old currency?  Is it only the 25,000 note?]  …I’m sure we’ll have time to go ahead and swap our currency out.  You just can’t screw over a lot of people who are legitimately holding on to the Iraqi dinar.  If it were to happen it [the CBI] would give us a window of opportunity in which to go ahead and make the exchange…

Breitling – Dinar Guru  It’s black and white.  Iraq picked the right guys.  They picked us.  They’re going to stay with us.  They’re not going to go with the BRICS.  They’re not going with Asia.  They’re not going to go with the EU.  They’re going to stay with the biggest massive system in the world where they can get capital.  And if they need to raise money through the IMF…they’re going to stay with those guys because Europe doesn’t have any money to lend out.  China doesn’t have any money to lend out and if they do lend it out it’s not worth the risk for them…

Militia Man – Dinar Guru  It’s been 20 years they’ve had this process going and now they’re finally getting to that change.  If we can’t see it now we probably never will but at this stage of the game I’m a believer that they are telling us and they did tell us there’s no going back.  This process is underway.

Pimpy – Dinar Guru  With a strong economy and the gold reserves are up and the foreign currency reserves are up there’s no reason for Iraq not to have a stronger exchange rate once you can start providing more jobs and you start redoing infrastructure but it’s not going to happen overnight.  You’re not going to see no presto huge jump in the exchange rate.  No.  It’s going to go up in increments…

Samson – Dinar Guru  Article:  “An economist expects a third package from the central bank to reduce the dollar”. THIRD PACKAGE OF DECISIONS – POWERFUL.

Sandy Ingram – Dinar Guru  CBI announced Iraq will do business with China using the Chinese currency…this is an attempt the Central Bank of Iraq is saying to stabilize or help stabilize the IQD.

Mountain Goat – Dinar Guru  There is some amazing news and it falls directly in line of what we should be expecting at this point in time. We all should realize by now the IQD is no longer pegged to the dollar…When I reviewed the Dr. Shabibi 2011 plan of the process to reinstate the Iraqi dinar…that part of the process would be to de-peg for the dollar then watch for inflation…This period of adjusting for inflation could take a few days, weeks or even months…We must now settle down and relax while we watch the process play out.

Militia Man – Dinar Guru   Changing from the dollar to the dinar in real estate is going to be a a big thing because multi-currency practices are going to be gone.  They’re making it so that people have to use the dinar.  Whether that’s in real estate, whether that’s in commercial business, the dinar is going to be the main focus…

Pimpy – Dinar Guru    Inflation, unemployment, demand, political stability, supply, future prospects…all play a part in the currency exchange rate.  Is inflation down?  They’re saying it was at double digits last couple years although every time I look at it it’s in single digits.  Unemployment is not under check…Demand for the currency?  There is none. People want the dollar.  That’s why the market rate is so much different than the official rate.  Political stability?  No.  We just watched Iraq go through an entire year of bickering about who is going to run the government.  Supply?  They have nothing to offer the outside world, not yet, but they definitely need a lot of things in country.  Future Prospects?  …over 65% of the people in Iraq over the next couple years will be of working age.  That’s perfect.

Nader – Dinar Guru  If it [The dinar] goes viral you’ll see the bank will sell it and you will change it to wherever you are in any state…Florida…New York..Long Island, California…Arizona, Texas, Georgia, wherever.  The bank would accept it.  You’re not going to travel nowhere.

Pimpy – Dinar Guru  Once Iraq enrolls into the World Trade Organization it opens up big doors for Iraq to do international business.  This also guarantees Iraq is able to do international business.  This organization will facilitate Iraq exports and make sure this gets done…this is a great thing for Iraq who is rebuilding, who is an emerging market…

Mountain Goat – Dinar Guru   …The conclusion of the dialogues of the Iraqi delegation in the United States of America, related to the dollar crisis are completed. In a way this visit was different from all previous delegations that visited Washington previously. We are being told today in an article that the results of this negotiation were more than positive, and there was a very big surprise coming…

Pimpy – Dinar Guru  The more I read about what’s going on with Iraq it really does look like they’re doing what they can to build up the value of the exchange rate for the Iraqi dinar.  Now that doesn’t mean they’re going to jump up to any major value right at first.  I still believe they’re going to up in increments but either way for us it’s good news…

Militiaman – Dinar Guru  2023 budget which is scheduled possibly for as early as Thursday.  It’s coming together because they’re [HCL, budget, etc] all exchange rate oriented.  If they’re on the Swift system and they have calculated a new exchange rate and that needs to be put into the spreadsheet to populate it to get to facilitate/get this going – it’s possible that could be happening in a very short period of time…everything to me is powerful.  I’m very excited.

Pimpy – Dinar Guru    Obviously the currency exchange rate is on the minds of the people from Iraq as well as the United States and they’re saying that they’re putting ‘mechanisms’ in there and that people in Iraq will feel the difference in the near future.  If they’re not doing it now then they’re going to do it later on in the very near future most likely by the time the next budget comes out.

Samson – Dinar Guru  Article:  “The Investment Authority directs the adoption of the Iraqi dinar in the payment of dues for housing projects“.   Ready for Adjustment to come.

Pimpy – Dinar Guru  There’s no doubt there’s all kinds of activity happening over there in Iraq...the focus has been on Iraq, their politics, their banking system, the exchange rate and that talk still continues today.  It’s exciting because we haven’t seen so much chatter about the Iraqi dinar exchange rate…

Mountain Goat – Dinar Guru   The news from Iraq this period is all very good and moving in the direction that we could possibly see the reinstatement soon. I do not have a date sorry!  All these efforts they are now taking for electronic banking, Point of Sale, electric grid, 2023 budget, etc. projects are all part of the equation leading Iraq’s monetary system to where it needs to go… just relax and let the process work its way through…

Samson – Dinar Guru  Article: “The Foreign Minister reveals the details of Washington ‘s visit: There are no American conditions, and the currency will soon stabilize” IMMINENT STABILIZATION OF THE EXCHANGE RATE

Henig  – Dinar Guru  Article “Revival of hanging gardens in Iraq” Quote “The Central Bank of Iraq is witnessing in the design of its new building hanging gardens that bring to mind…one of the seven historical wonders of the world…the implementation of the first listed hanging gardens in Iraq, which will decorate the roof of the base of the new central bank building…”  These cats are positioning themselves for a new Renaissance.

Paulette – Dinar Guru  Baghdad is finally in the driver’s seat.  Let’s hope the Coordinating Framework turns out to be the good guys. We are at a time that nobody truly knows who is good or bad in this world…My biggest question is will Nouri al-Maliki turn out to be good, bad or flipped?  If I knew the answer, I would have a better understanding of where the RI process currently lies…

Pimpy – Dinar Guru  I can tell when I’m speaking to people that they’re confusing what the exchange rates are.  There are different types of exchange rates…One is the official rate, which is 1300 dinars for every dollar.  The other one is the market rate, which is 1460 dinars for every dollar...the market rate, which is like the black market rate, is what people are willing to pay for the US dollar.  They’re willing to exchange 1460 dinars for every dollar.  In other words they will pay you more to get their hands on the US dollar…this is causing a problem.  [Post 1 of 2]

Pimpy – Dinar Guru  You’re looking at a 160 dinar difference between the two rates which is equivalent to 11 cents.  That doesn’t sound like much but it does add up quickly.  If you had $1 million dollars and you want to go buy the Iraqi dinar on the black market at 1460 dinars…you would get 1 billion 460  million dinars…You would take it into the bank and sell it to them for 1300 dinars for every $1 and you would make a profit of 160 million dinars…$109,594…of course it’s illegal to do that but there are people out there who do it for you. [Post 2 of 2]

Nader – Dinar Guru   If you talk about the private sector look at it a year ago and look at it now.  It’s gone 60%-70% better.

Clare – Dinar Guru  Article:  “The power of speculators and currency traders is delaying the government’s measures to implement the new exchange rate”  Quote:   “…despite the government’s good decision regarding the exchange rate, which to some extent stopped its rapid and continuous rise, its implementation procedures are still slow.“

Pimpy – Dinar Guru  Article: “We agree with Washington on the dollar and the results will appear in the markets”  Some interesting choice words that were used in here.  I don’t want to make a big deal out of it but it is definitely something to think about.  We know Washington and Iraq have come up with agreements to do something about the exchange rate.  Keep in mind this is after the current exchange rate was already announced to the world.  So whatever agreement they got coming up here sure sounds like another exchange rate change coming in the future.  [Post 1 of 2]