Welcome to the Dinar Observer – Daily. For regular Dinar Updates, to see what the Dinar Gurus have to say, Dinar to USD listings, IQD and for Iraqi Dinar info – THAT MATTERS!! This is a good place to start for your Daily Dinar Recap – whether you are a Dinar vet or just looking for a little current Dinar info – Welcome.

Word for the day…

Psalm 145:10-11 (NKJV)

10 All Your works shall praise You, O Lord,
And Your saints shall bless You.
11 They shall speak of the glory of Your kingdom,
And talk of Your power,

Heavenly Father, we praise You and bless You! Thank You for the kingdom of God and that You are Almighty God and the power of the Holy Spirit! In Jesus Name, Amen.

Mrs BGG

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CURRENCY CODE SELL BUY

Dinar to USD – Dinar Value – Iraqi Dinar “IQD” listing

Indicative rates – 11.16.2015 

http://www.cbi.iq/

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A long habit of not thinking a thing wrong gives it a superficial appearance of being right. – Thomas Paine

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*** Current Posts ***

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tman23 – I believe 1000% without any doubt that they are lifting the 3 zeros for the fiscal year 2016… And I believe that as Shabibi once stated they need a 1-1 for easy use and avoid confusion in the market place… I flat out guarantee you the Kap float is an opinion and 5 cents is not happening…with or without 3 zeros.
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Mnt Goat (Dinar Guru) – I now believe this project is being moved up from 2016 into 2015.  Article:   “ACTIVATING THE LAW OF CUSTOMS TARIFF MIDDLE OF NEXT MONTH”  So bottom line is in the article…they are coming right out and telling us and I quote from the article – “the activation of the customs tariff law the middle of next month”. Why in the middle of next month then?  They will be activating the RV at this same time!   All these events are  INTERCONNECTED leading towards one event, the RV…   [post 3 of 3]
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Mnt Goat (Dinar Guru) – I have said that only when you see these events (golden nuggets) could there be a strong indication of an upcoming RV window of opportunity.   Such signs as news of launching the new 50k or 100k notes, articles about increasing the value of the dinar, distributing the lower denominations and coins, news of going international, deleting the zeros, putting the currency on a float vs fix regime, re-launching the tariffs, etc.  So now we see that almost all of these events that I mention they have begun to address in some form or fashion over the last 2 weeks. This was all amazing news and all in such a short time period too.  IT IS ONLY GOING TO GET BETTER!   [post 2 of 3….stay tuned]
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Mnt Goat (Dinar Guru) – …let’s see where we stand today.  -Amnesty law – second reading completed, 14 point of contention need to be resolved.  -Mandates of the three presidencies (second reading was completed on 11/12)  -Accountability and Justice law TBD ( suspect this will happen in the next couple weeks, we await in anticipation)  -Final announcement of the Federation Council law TBD (again we await in anticipation)  -Final report card and unity meeting for the mandate for Reconciliation called the “Reconciliation Conference” in articles they told us they were targeting to conduct this conference in mid December. Targets usually mean just that and can be moved forward or back depending on progress.   [post 1 of 3….stay tuned]
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tman23 – [has Shabibi officially returned to the CBI as governor?]  NO…But we have seen him twice in photos now…with the Finance Minister…Zebari when meeting with the IMF.  He is the “conductor” of the Orchestra.  His whole life has been the study of…an emerging market during times of volitile oil prices.
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“Round Table” Dinar Call!!

“for Dinar News – that MATTERS!!”
from Monday 11/16 @ 4:30pm CST

Smart phone user link – Click here

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Mike – …the IMF’s involvement should help right the ship, they definitely need help in getting control over what’s happening to the dinar and the reserves.  One things clear, Iraq has to address these issues now.  In January we all knew that things were beginning to unravel, the auctions were capped, the dinar lost value on the street and the reserves are slowing dwindling.
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Enorrste (Dinar Guru) – […does “removal of restrictions”  mean going to float,  market supply and demand?]  Policies related to foreign currency and the removal of restrictions on foreign currencies means moving to a floating dinar.  At present there are essentially no policies related to foreign currencies because the dinar is not tradable with foreign currencies.  Thus until now they have had no need for policies related to them.  However, with the movement to a float and international recognition of the dinar those policies will have to be put in place.  More to the point, the IMF is saying that when they do move into the world market with the dinar they do not want any restrictions placed on conversions from one currency to another.  In other words, they are calling for a free float.
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BGG – I have no comment on “the float theory” – it is certainly possible…  I could care less if the IMF decides to resort to float… JUST GET IT GOING…once it starts – most realistic economists agree it will raise to a realistic value quickly if they do that.  I do think the IMF will be a major determinate in the value of the IQD from here on…  [could it be possible if the W.B. IMF actually FORCE Iraq to r/v?]  not impossible – in one way or another...they are taking a direct “advisory role” as part of their financial support.
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Frank26 (Dinar Guru) – We are walking out of the RI and into the RV.  The RV is multi dimensional with many positions for DRS [Dr. Shabibi].  …He and They have told us of their surgical steps being taken in a Masterful MR [Monetary Reform] of their currency the IDQ.
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Enorrste (Dinar Guru) – [What do you expect out of your (example) 1 million IQD…You paid let say…$1100 usd for it…are you expecting to make $400 usd profit over time…?]  Much more than that.   With reserves that are greater relative to their money supply than any country in the world Iraq is poised to become a powerhouse internationally.  The ultimate value will be determine by the market itself. The CBI is very clear on this. Their goal, however, was specifically stated back in 2007: $3.33.  That number was the value before Saddam came into power, and they are a very proud people who want it to be returned.  My own view is that this may be conservative, given their reserves.   [post 3 of 3]
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Enorrste (Dinar Guru) – So, how many…think that tomorrow, or someday, the dinar will go from 1166 to 1 to, say, $3.50?  [more and more i am of the opinion that it will get there in short order but not all at once.]  …you have hit the nail with your head!   I agree 100%.   I really don’t think that most investors in the dinar know just how powerful a process (not an event) they have entered into. I also believe that once the float begins about 90% of the investors will cash in well before that process has fulfilled God’s plan. [so then how could the IQD have a past rate of $3.22…which it did?]  …under the Saddam regime the rate was artificial but never recognized internationally.  [post 2 of 3….stay tuned]
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Enorrste (Dinar Guru) – In order to understand what is happening with the dinar it is important to see it historically as a process and not as an event.  What we are seeing happen has been publicly exposed just last week by the entry of the IMF directly into the affairs of Iraq. They signed an “agreement” to let the IMF basically handle things from here on out. The very next day the announcement of the introduction of the large 50000 dinars notes came out, with a picture of the note itself on the CBI website. Bottom line: IMF is running the show and the money is already printed.  […the IMF getting involved to the extent they are now, is very good news then.]  Not just good news: great news!  The IMF is in favor of floating the dinar, not just for Iraq but for the world!   [post 1 of 3….stay tuned]
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tman23 – This operation will be preceded by regulatory and administrative processes and the form in which it will start moving in,” adding that “the Bank began creating currency models and training of cadres to it.” The Iraqi Central Bank announced in May 2012 that the process of deletion of zeros from the country of Iraq will be transferred to the trillions of billions, “precede by regulatory and administrative processes  THIS IS LAWS AND THEY ARE VOTED ON…AML and INVESTMENT etc……. just waiting to be implemented……  AND….adding that “the Bank began creating currency models and training of cadres to it.”….  They were ready for 2013……the base is established…..AND by Saleh words…..the new currency was set to being printed August 2012 ….. Shabibi was set to go……Abadi announced it as Finance Chairman Oct 3rd to start 2013……Oct 12th Maliki placed the bounty on Shabibi…
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Frank26 (Dinar Guru) – IMO the LD’s were distributed two days ago. This AFTER the 50K’s were programmed…NOT DISTRIBUTED YET.  THEY ARE POISED FOR 2016 BUT OH MY LORD THEY ARE SO READY FOR 2015!
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BGG – my unvarnished opinion is: I care little what the rate is – I’m just ready to see it get started because once it gets going – it will likely wind up at a real value fairly soon…what ever that number is – it will be “market driven”.
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Poppy3 (Dinar Guru) – RV IS MOVING ALONG AND THINGS ARE VERY PROMISING. THE DONG IS ALSO BEING DISCUSSED DAILY THAT THEY NEED TO INCREASE THE VALUE SO ALL NEWS IN GOOD. NOTHING STATUS QUO.
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Kaperoni (Dinar Guru) – monetary policies are not reinvented weekly or yearly or whenever you want. They are tried and tested and well thought out…the IMF has a clear plan for the dinar…well documented…same for any other emerging market.   …the rate is the rate. when they transition its just that…one day we are pegged, the next we are floating. The rate is what it is at the time. Which today is 1166.   the dinar is international now and they are not floating it…it is pegged.  they want to free float, no limits.  [if dinar is international now how come banks in the US can’t buy or sell it?]  simple they dont want to.  I assure you if a bank wanted to exchange dinar, they could…too risky.   [Did Shabibi say in Jackson hole Wyoming in 2010 that the rate would be 3.22?]  I am sure the Iraqis would love 3.22 but they never said that would happen overnight.  THe UST and the IMF and the fiance committee within the last week all told the CBI to free float the dinar…that is as clear as it gets…not an overnight event.  [free float from 1166 correct?]  …where ever it is when they move is what it starts at.  [post 2 of 2]
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Kaperoni (Dinar Guru) – IMO the IMF under the new MoU (Memorandium of Understand) will manage the CBI monetary policy for a year. And IMO that will include helping them transition into the global marketplace…monetary policy is pretty straight forward and well documented…when the CBI wants to change, they simply will change the procedure…As they stated will occur before the middle of 2016.  [Please explain the change in “procedure” by the IMF…]   a change in procedure is fixed to float.  there is no rv…the IMF Article IV, that is confirmation.  [I think you have to consider conditions today…]  the CBI already did that..what do you think the 50k is for?  poor conditions prevent the CBI from moving at this time to a float. Therefore the 50k is a pacifier for the citizens.   [IYO…is that also the move from a dual currency and operating only on the IQD?]  iraq can never get rid of the dollar 100% they sell oil.   [post 1 of 2….stay tuned]
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Iraqi Dinar/Dollar auction (most recent listing) 11-16-15 

Currency Auctions Announcement No. 3074

This daily currency auction was held in the Central Bank of Iraq on the 11-16-2015

The results were as follows:

More: http://dinarupdates.com/blog/
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Millionday – [Do you believe till maliki is arrested we won’t see a RV?]  NO I DO NOT AGREE WITH THAT.
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Aggiedad77 (Dinar Guru) – What is likely to happen…IOO…is the LD’s need to be brought forward…why else would they have risked moving them from the US to Baghdad…to the CBI…not to bring them out…what purpose would that serve…but to bring them out…they need value…something far greater than 1166 as a value…have patience…be strong today and stronger tomorrow…the BEST is yet to come.
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Millionday – Article quote:  “the «Special Representative of the Secretary-General of the United Nations in Iraq, Jan Kubis gave the end of last week to the United Nations Security Council, the report prepared by the Secretary-General of the United Nations Ban Ki-moon on the situation in Iraq.”   THE UN SECURITY COUNCIL HAS APPROVED THE REFORMS GIVEN TO THEM A FEW DAYS AGO — THIS IS THE LAST OF THE REFORM ACTIVATION — THE ECONOMIC IS THE LAST ONE ACCORDING TO ALL THE INK I HAVE.  THE MOVE FORWARD WITH THE LAST OF THE REFORM PACKAGES IS URGENT AND SO IS THE NATIONAL RECONCILIATION CONFERENCE ACCORDING TO THE UN SECURITY COUNCIL –  THEY HAVE TOLD IRAQ THIS IS CRITICAL AND USED THE WORD — URGENT — LOVE IT.
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Kaperoni (Dinar Guru) –  …the zeros (3 zero notes) cannot go away until the dinar has appreciated to a value that lets the CBI collect and destroy them.  It does not mean they won’t start to raise the value within the next few months as we predict.  That being said, the CBI was clear, the 50, 100, 200 is expected to come out early or starting 2017.  That would put the rate at or about .05 cents or so.  ..which is what we expect.  It may take 16 to 24 months to raise the value to a 1 to $1 rate in which the zeros are then “technically” deleted.    I think everyone here expects the float to begin during the 1st half of 2016 which matches with the IMF statement and the goals for 2017.  So in reality, if parliament passes the laws, investors begin to flock into Iraq, and the CBI (with the help of the IMF) gets monetary policy under control, the 50K note works to reduce the paper, and the decision is made to exit the peg to a float by mid 2016, the nominal rate could be less or more than that educated calculation (we think about 5 cents). Lot’s of “ifs” here so we wait and see how it plays out.
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