Dinar Observer Daily

BGG – Article:  “Saudi Arabia Says Open to Settling Trade in Other Currencies”  …Iraq is talking about their currency and it’s value almost every single day. The set of events I have discussed recently are now being talked about in MAINSTREAM outlets. Stick to news.

Pimpy – Dinar Guru  The truth of the matter is we have no idea how much Iraqi currency is in circulation.  I’ve read articles talking about for…5 or 6 years Iraq was spending somewhere in the neighborhood of a billion dollars…buying the dinars back and destroying them… [a] soldier was telling his friend that when he was in Iraq…he had to log in their currencies as they destroyed it.  As soon as he said that I asked him about it. I said, ‘You’re talking about the new [dinar]?  The dinars of today?’  He said, yeah.  [Post 1 of 2]

Pimpy – Dinar Guru   I said, ‘Did they say why they were destroying them?‘ He didn’t know why but their job was to protect their currency and so he had to log in a list of serial numbers and they were destroying it.  He said they destroyed a ton of it.  Even though it says there’s 157 trillion dinars that are in circulation how many of them are actually in circulation?  …that’s one of the question I have.  I know this for a fact Iraq was trying really hard to figure out what is and is not in the hands of speculators and how many dinars are actually out there… [Post 2 of 2]

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Clare – Dinar Guru  Article:   “The Wall Street Journal reveals the scenes of the Fed’s tightening of the dollar in Iraq”  Quote:  “the Federal Reserve Bank in New York began imposing stricter controls on international transactions of dollars by Iraqi commercial banks in November 2022, in a step to reduce money laundering and illegal seizure of dollars that go to Iran and other countries in the Middle East that are subject to severe sanctions.”  [Post 1 of 2]

Clare – Dinar Guru  Article 2:  “Iraq Economy Reels as U.S. Moves Against Money Flows to Iran — WSJ”  Quote:  “Iraqi banks had operated under less stringent rules since shortly after the 2003 U.S. invasion that toppled Saddam Hussein. Almost two decades later, American and Iraqi officials said they have decided it was time to bring Iraq’s banking system into compliance with global money-transfer practices.“   [Post 2 of 2]

Militia Man – Dinar Guru  They’re about to make a change and it’s expected not only by the citizens but also by the Ministries.  They’re all expecting something to happen from the CBI…

Henig – Dinar Guru  “The dollar has gone down… the dollar has gone down“… cheers from the audience as Al-Sudani entered the Basra stadium”  Quote:  “the audience chanted: “Download the dollar…Download the dollar“ in the dialect.”  IMO: Very poor translation in the headline there. It’s not past tense, as the headline wants to show. They’re calling for the Dollar to be devalued…

Sandy Ingram – Dinar Guru   Iraq is still under sanctions and has an ongoing agreement with the U.S. government.

BobTheTaxMan – Dinar Guru  The [Modern day]  IQD…replaced the previous currency that once had a value of $3.75 (that was an inflated price that was brought into play by Saddam.  It wasn’t justifiable and reality price)… [The IQD now] is considered to be under a managed float with little change in the value for the last two decades.  The value is small at this point in time.  The CBI…in recent years have stated they could support a $1.17…

Henig – Dinar Guru  Article: “Economic: Reducing the price of the dollar outside the ability of the government and the central bank”  IMO: This article is in the category of FUD: Fear, Uncertainty, and Doubt. By saying that there’s nothing anyone in Iraq can do about their own currency, they spread a feeling of hopelessness among the Iraqi people–and among investors in the Dinar. When investors feel hopeless, they start looking for the exits. That’s the point of stories like this…This is an intentional strategy. Recognize and understand.

Clare – Dinar Guru  Article:  “For the first time… $100 jumps over 165,000 dinars in Iraq ”  Quote:  “The exchange rates of the US dollar against the Iraqi dinar jumped today, Thursday, in the main stock exchange in the capital, Baghdad, and in Erbil, the capital of Kurdistan Region, to record more than 165,000 dinars.

Militia Man – Dinar Guru  All the things we’re seeing right now are pointing to a picture Iraq is about to make a move with their exchange rate and the reasons why they’re keeping it quiet is because it’s sensitive.  It’s not the CBI’s job to come out and tell you exactly what they’re going to do…

Kaperoni – Dinar Guru …The IMF, World Bank and UN are there to support countries not demand reforms and punish them for not following guidelines… Only the IMF would work with Iraq regarding monetary policy and nobody is telling Iraq to change the value of their exchange rate… In fact, it was agreed upon that it would stay the same for a few more years… Only with the success and growth of Iraq diversifying their economy will Iraq float the dinar… They have a lot of work to do including passing over 100 stalled laws to encourage investment that they keep saying they’re going to pass but they never do… Until that happens the dinar will remain weak…

Mountain Goat – Dinar Guru  The German engineering company (Siemens) is a pioneer in the field of energy production, and it has a plan to raise the rates of electricity supply to Iraq...Why is this so important to us as investors in the dinar?  Modern banking is all electronic…Even to conduct electronic transfers of funds needs the electric grid up and running 24/7. Once Iraq goes international this will be a necessity…

Sandy Ingram – Dinar Guru  Iraqi banks have had to comply with certain criteria of the SWIFT International Transfer System in order to access their foreign reserves.  This foreign reserve is $100 billion is held at the U.S. federal reserve.  You can see the U.S. is playing a part in helping Iraq to grow stronger financially.

Militia Man – Dinar Guru  The CBI will have to make an exchange rate change…They’ve said they were going to redenominate their currency to match the region and we expect that to happen relatively soon.  They publicly stated they may be doing a 20K note but we believe it’s not the truth because there’s no other countries in the region that use 20k notes.  We believe that the redenomination that the central bank has told us they were going to do will be part of the plan of the project to delete the zeros off the exchange rate and go into a new international world. 

Clare – Dinar Guru  Article:  “A new announcement by the Central Bank on the exchange rate of the dollar”  Quote:  “The bank’s advisor, Ihsan Al-Yasiri, said in a press statement today, Wednesday, that: ‘The rise in the exchange rate of the dollar against the Iraqi dinar is a result of the development of an electronic platform to ensure that the dollar reaches directly to the people who benefit from it without going through additional episodes.’“

Samson – Dinar Guru  Article: “A deputy sets a condition for voting on the 2023 budget related to the dollar exchange rate”  REDUCE THE DOLLAR TO THE DINAR

Samson – Dinar Guru  Article:  “Al-Nusairi announces the release of his new book, “The Central Bank of Iraq…The Journey of Challenges and Achievements 2003-2022”  Quote:  “The book reviews the challenges that the Central Bank of Iraq faced during twenty years, the policies, programs and strategies it adopted and the achievements that achieved its goals“

Sah – Dinar Guru  Yes, they are out of chapter 7 formally, as of a few months back. IMF stated that Iraq did overpay and was paid back about 7 million and was taken out of Chapter 7 and submitted to the UN. It was one of the requirements of the IMF for them to go international…

Pimpy – Dinar Guru  Article:  “What is the secret of the decline in the Iraqi dinar despite the increase in dollar reserves?”  Having large amounts of reserves in gold strengthens your currency…why is the dinar losing value to the U.S. dollar?  Quote:  “…the currency lost about 10% of its value.  This decline is not huge but it’s starting to worry Iraqis about the price of imported goods…“

Sandy Ingram – Dinar Guru   International news feeds light up with details on the Iraqi PM statement on US troops.  Article:  “Iraqi PM backs indefinite US troop presence in country”  Quote:  “Iraq would like similar relations with Washington to those enjoyed by Saudi Arabia and other Persian Gulf oil and gas producers says Iraqi Prime Minister Mohammed al-Sudani“

BGG – Article:  “Al-Fateh: Selling oil in currencies other than the US dollar is very possible”  I have said this and said it and said it… This is not an unrealistic set of events. EVERYONE wants off the US Dollar. The question is, what will they get on? What if it were Dinar?!? WOW.

Pimpy – Dinar Guru   Although this [past] article makes a great case why the rate is gong to be reinstated at $3.22…there’s nothing out there that guarantees the rate at $3.22.  I say that hesitantly because in an article they tell you why the rate is going to be reinstated at $3.22 and they’re using quotes from individuals who are part of the United Nations and the whole nine yards…there’s places within the article which I’m going to have to elaborate a little more so people are not misled…I realize you guys..are grown adults…I’m going to elaborate more and point out why there’s some concerns about something being said in there…

Breitling – Dinar Guru   Iraq is still cranking.  The powers that be in Iraq, the people with the authority, I haven’t heard one of them say, ‘This isn’t going to work.  We aren’t going to add value to our currency.  Maybe in 30 years.‘  Nothing.  They’re still on it.  They’re still very very enthusiastic about it.  They need to weaponize their own currency is the language that they’re using.  So that’s all good.

Kaperoni – Dinar Guru   What law needs to be passed now?  It’s not what law,  it’s laws. They’re over 100 outstanding laws in Iraq that need to be passed to encourage investment in Iraq. Nothing is happening with the dinar until Iraq develops a private sector economy!

Pimpy – Dinar Guru   If you want to have a stronger exchange rate for your currency you need a very stable government.  You need a stable currency.  You need a stable economy and having 94% of your budget relying on oil revenues is not a stable economy.  Al-Kazemi went in there and changed it.  It used to be like 98% relied on oil revenues and now it’s down to 96%.  It doesn’t sound like much but that does make a difference.  I like to see how far Al-Sudani is going to get.  I’m sure he’s doing anything and everything he can to make as much of an impression to the people of Iraq so when they go to early elections they’ll consider him all over again…

Clare – Dinar Guru  Article:  “An expected visit of an Iraqi delegation to Washington, and the “Dinar and Dollar” file is at the forefront of the talks”  Quote: “a high-ranking Iraqi delegation to visit the United States on the eighth of next February…The delegation, which includes economic officials and from the Central Bank, will hold meetings with senior US officials in Washington to discuss the issue of the dinar and the dollar, and the economic relations between the two countries,”

Pimpy – Dinar Guru  I was watching this video on the black markets over there in Iraq…They were highlighting a female…She takes hundreds of U.S. dollars and buys Iraqi dinars.  She’s buying them on the black market for something ridiculous like 2,500 dinars for every dollar…the official exchange rate is 1,450 dinars for every dollar but she’s getting 2,500 or more…She takes the dinars, brings them back to an individual who then resells them here in the United States for a premium…they’re making money hand over fist.  These are small time people working in the black market.  You can imagine somebody on a much larger scale.