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…

Numbers 6:24-26 (NKJV)

24 “The Lord bless you and keep you;
25 The Lord make His face shine upon you,
And be gracious to you;
26 The Lord lift up His countenance upon you,
And give you peace.”’

Heavenly Father, Thank You that You are the God of Peace! Thank You for blessing us! Thank You for all of Your blessings! We are so grateful and thankful 🙂 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 – 01.04.2015

http://www.cbi.iq/

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However beautiful the strategy, you should occasionally look at the results. – Winston Churchill

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*** Current Posts ***

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Enorrste (Dinar Guru) – We can only hope that they have figured this out and that they will somehow get the dinars out of the mattresses so they can be destroyed and the value of the dinar to rise to offset the higher prices. Otherwise there will be revolt.  The only good thing about the imposition of tariffs is that it will increase income to the GOI, but at the expense of the citizens of Iraq. I can’t believe that the GOI would be this short-sighted and must conclude that this is being done in conjunction with the MOU with the IMF/CBI.  [post 2 of 2]
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Enorrste (Dinar Guru) – Imposition of tariffs without a change to a float will not work. It will cause inflation in the country and place a heavy burden on the citizens of Iraq due to the higher prices. Unless they simultaneously allow the dinar to float (while reducing the money supply) then the Iraqi’s will see the value of their dinar fall precipitously due to the higher prices of imported goods.  The GOI tried this once already with trade into Kuwait and had to stop it immediately due to the disruption it caused. Now they are going to do it again over a larger territory.   [post 1 of 2….stay tuned]
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Kaperoni (Dinar Guru) – Article quote:  “but at this time no one can, not even Iraq to continue on the previous policy, because it is impossible to live on oil revenues only” The writing is on the wall.  They cannot make it much longer and even Zebari said so today...can’t pay salaries by April.  This is a going to be rather interesting the next few months.  Buckle up and let it come to us.
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Stryker (Dinar Guru) – 2016 Budget Ratification:  this did not take place on Friday as first reported last week but yet the President of Iraq was reported approving and ratifying it on Sunday (yesterday).  Gazette Updates: the 2016 Budget will not be implemented until the new approved budget law is posted into the official Law Gazette, so neither the additional taxation or tariff taxes in Article 24 of the 2016 Budget can be implemented until it is.  [post 2 of 2]
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Stryker (Dinar Guru) – Foreign Exchange Market: Today is the first trading day of the Foreign Exchange Market (FOREX) for year 2016 and no change has occurred “yet” in the exchange rate of the Iraqi dinar (IQD) nor is there a change in Iraq’s Monetary System or its reform measures so far. So let’s update a few other items that effect this as well:  Tariffs: no signs officially that they have started collecting tariffs at any of their custom port of entries on Friday nor have they today. So that tells me that last weeks news was to the following taking place:   [post 1 of 2….stay tuned]
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Economist: Replace the currency and the deletion of zeros is an important step for monetary reform

The adoption of the monetary authority decision in the process of replacing the currency on the approach to costs and benefits, as a change of the Iraqi dinar and the deletion of zeros is an important step on the road to monetary reform, and the reform of the currency management system through structured to control the flow and management of the cost of the money supply in a manner optimized and using a form «Mosley» the most comprehensive, which does not stop at the borders of the costs and benefits but includes economic, social and political environment variables.

He said economic expert d. Abdul-Hussein Abdul Jalil Ghalibi according to »Sabah» that “ideas can be raised in this area, from the process of deleting the zeros and replace currency terms would be too costly to the Iraqi economy and society, from the cost lawsuits and compensation, as well as support the economy commissioned during and after the process substitution.

He stressed that no one denies that the process of changing the dinar require the costs to complete, but the discussion of these costs come from several directions, the first being to maintain the dinar generates community ongoing costs in accounting and procedural fields of counting and sorting, storage and others…

More: http://dinarupdates.com/blog/
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Millionday – [do you think they need to launch the market economy before any particular date?]  THEY HAVE MADE VERY CLEAR TO THE GLOBE THROUGH PROMOTION AND JUST ANNOUNCEMENTS AND OBVIOUSLY CONTRACTS AND INTERNATIONAL AGREEMENTS TO ENTER THE GLOBAL MARKET — THEY HAVE STATED THEY HAVE EVERY INTENTION AND ALL THEY ARE DOING IN TO ENTER A MARKET ECONOMY AND ACTIVATE THE PRIVATE SECTOR AND ‘MADE IN IRAQ’ BENEFITS AS THEY DIVERSIFY.  THE DATE HAS NOT BEEN RELEASED BUT WHEN THEY STARTED DISCUSSING THE MOVE — THEY CALLED IT URGENT.
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wmawhite (Dinar Guru) – [Have you completely ruled out a Float of some sort… maybe not starting at 1190… but at a higher figure?] IMO, even if it was to start to float, would it not start to be exchanged/bought/sold at a true value…not an artificial value…and [does] the world believe that the true value is much greater than 1166 or whatever. [...when I first started in this the rate was 1170, then they moved it to 1166… now its 1182? for an APR rate, it sure is moving around.]  The term “rate” is not a true description. The IQD has a buy/sell value given to it by the IMF for use inside of Iraq. We are waiting on an exchange rate to be given to it.
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Millionday – THEY HAVE ANNOUNCED MULTIPLE MEETINGS BUT MOST RECENTLY THE MOST EXCITING TO ME IS WITH CHINA AND JAPAN AND OF COURSE WE ALREADY KNOW OF THE MANY AGREEMENTS WITH THE US OF A — EU — AND THE LIST GOES ON.  THEY HAVE ANNOUNCED THAT THEY ARE LAUNCHING AND VERY PROUD OF THE ABILITY FOR BOTH PUBLIC (LISTED ON STOCK MARKET) — ZAIN AND ASIA CELL TO BE USED BY CITIZENS/CUSTOMERS TO PAY BILLS AND WIRE MONEY ALL OVER THE GLOBE.   YES IT IS TRUE WE ARE VERY EXCITED AND THINGS ARE LOOKING VERY POSITIVE…SO GLAD TO SEE US MOVE WITH PROGRESS THAT WE ALL GET TO SEE TOGETHER — ITS BEEN A LONG RIDE.   [post 2 of 2]
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Millionday – HERE IS A LIST OF THINGS THAT I PERSONALLY FIND AMAZING IN THE POSITION WE ARE IN RIGHT NOW…  TODAY ISX WAS TO RETURN FROM AS STATED — THEIR VACATION.  THE BUDGET WAS TO BE PRINTED IN THE GAZETTE A COUPLE DAYS AGO.  THIS PAST MONTH IRAQ MET IN LONDON ABOUT THE ISX AND ALL IT IS OR WILL BE.  THEY ALSO ANNOUNCED THAT THE ISX REVENUES OBVIOUSLY WILL BE INCLUDED IN THE GDP.  IRAQ HAS ANNOUNCED THAT THEY ALSO WERE TO A COUPLE DAYS AGO LAUNCH CUSTOMS AND TARIFF.   A COUPLE A DAYS AGO THEY ANNOUNCED THAT E-BANKING WILL BE LAUNCHED AS WELL.  [post 1 of 2….stay tuned]
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rcookie – …THE FACT THAT THE FREE FALLING PRICE OF OIL (RIGHT AT WHERE ALL INDUSTRY FORECASTERS EXPECTED IT TO BE)…IS THE EXACT REASON THE IMF…WB…AND UN MANDATED (INSISTED) THAT IRAQ DIVERSIFY ITS BUDGETARY AND ECONOMIC NON OIL REVENUE STREAMS…(WITH TARIFFS BEING THE MAIN DRIVER)…WITH THE EXTREME VOLATILITY OF OIL SUPPORTING THEIR BUDGET AND GDP…THE TARIFFS ARE NOT AN OPTION.
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Enorrste:  There are a few things that we must remember before we go off the track…

1) The first is that the official policy of the CBI and the IMF is to move to a floating dinar.

2) Second is the fact that both the CBI and the IMF expect the value of the dinar to rise, not fall, when it moves to a float.

3) The third fact is that Saleh stated unequivocally that the recent change in the exchange rate from 1166 to 1182 (or 1190) is NOT a devaluation of the dinar but IS an ADJUSTMENT in preparation for something else.

4) The fourth is the fact that there is a liquidity crisis in Iraq caused by the hoarding of up to 70% of all of the dinars in mattresses.

5) Now, finally, this fifth element is coming into play. This adjustment will, in my opinion, cause the locals to unload their paper dinars, most likely for dollars. This is a short term move, in my view, done specifically to draw out the dinars so that they can be destroyed…

More: http://dinarupdates.com/blog/
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wmawhite (Dinar Guru) – I will repeat myself, “what do we know as fact?” Answer…the International Monetary Fund (IMF) two months ago…”he stressed that Iraq will return to economic market during the first half of next year (2016).” …there are no smoke and mirrors…it is just everyday life as the IMF is taking Iraq by the hand and fixing problems internal to the CBI and GOI.  [I guess we are at the mercy of the IMF now?]  We are at no one’s mercury…this is about Iraq and their future. We are here hoping to make a profit off of their good fortune.
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mike (Dinar Guru) – So, there seems to be two camps in Iraq, one wants to move forward with economic and monetary reform, the other wants to maintain the status quo. Over and over again Iraq has refused to do the right thing and move the country forward, why would de-valuing the dinar be so hard to believe and accept? I’m not going to be surprised at all if Iraq drops the rate to 1400-1, I’m just betting and hoping that the good guys somehow find a way to succeed and move this country forward and talk about lowering the value and 50k’s evaporate as the lower denoms come out with value under Article VIII.   [post 3 of 3]
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mike (Dinar Guru) – Even if they managed to coax dinars out of the mattress and lowered note count, I don’t see how it’s going to raise the value of the dinar based on demand, let’s face it, the only place a dinar is useful is in Iraq.  Until they move to Article VIII how can there be any real demand?  My biggest concern right now is if Iraq begins the float without the move to Article VIII, the dinar will then probably drop to the 1400-1 rate…  The only hard and true backstop Iraq has is what?  The reserves.  Apparently, even the Iraqi’s have finally figured this out, they know, without change, the reserves will erode until there’s nothing left and the country becomes insolvent.  [post 2 of 3….stay tuned]
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mike (Dinar Guru) – The topic of lowering the value of the dinar has been bouncing around for months now. it’s not new.  I know we have “assurances” from the CBI, but this move would save the GOI billions on payroll alone, and it’s pretty clear what the motives of the GOI are. They have very little regard for the common man in Iraq…  Instead of moving the country forward with monetary and economic reform, these guys want to beg, borrow and steal to maintain the status quo.  And that’s not an opinion, that’s a factual statement based on the actions of the GOI for the past 5 years I’ve been in this “investment.”   [post 1 of 3….stay tuned]
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Enorrste (Dinar Guru) – Article quote:   “fear the economic and financial circles Iraqi that leads the Iraqi Central Bank’s decision to reduce the value of the dinar against the dollar as of yesterday”   the article confirms…This move is a short term strategic move, not a devaluation.  I particularly liked the fact that the article states quite clearly that any talk of a devaluation is “baseless.”
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Iraqi Dinar/Dollar auction (most recent listing) 01-03-15 

Currency Auctions Announcement No. 3107

This daily currency auction was held in the Central Bank of Iraq on the 01-03-2015

The results were as follows:

More: http://dinarupdates.com/blog/
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rcookie (Dinar Guru) – [… your opinion on the dinar starting out at its present rate and floating up on demand as people invest…is that possible?]  I DO NOT BELIEVE THE CURRENT SUPEFICIALLY IMPOSED RATE WILL BE THE STARTING POINT OF A FLOAT.
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Chattels – It appears that Kaperoni is saying that matters are so bad that something must and will be done in the area of currency reform.  I wonder and doubt, but I will be pleased by any pleasant surprise.  Hardly the preferred posture presented by Shabbibi, but no doubt there are a number of scenarios which may lend itself to or militate in favor of our liquidity event and we have never known the recipe(s) with any certainty.  None of us much care how IT happens, only that IT does…
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rcookie (Dinar Guru) – […they have tried to sell bonds before… no takers… at 1166…]   IT IS NOT THE SAME ENVIRONMENT…NOW THAT THEY HAVE MET FULL COMPLIANCE WITH ALL IMF…WB…UN MANDATES….DEFICIT REDUCTION…SUBSIDY ELIMINATION…SALARY LADDER….NON OIL REVENUE STREAMS…TARIFFS…AND COMPREHENSIVE IMF MONITORING OF ALL ECONOMIC AND MONETARY ACTIONS AND POLICY…INCLUDING FULL IMPLEMENTATION OF 2016 BUDGET DISBURSEMENTS TO ALL PROVINCES…NEW DRIVER FOR THEIR ECONOMIC AND MONETARY BUS…AND THE INTERNATIONAL INVESTMENT COMMUNITY KNOWS IT….
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Hub (Dinar Guru) – the imf’s purpose is to insure the stability of the international monetary system.  one document from 2010 states the imf wanted iraq to have a stable economy and set the value at 1166. they wanted to stop inflation and set up the govt to help pull iraq out of the pits…now its a different ball game and they are ready to go forward…so we shall see…its not reconized as an international currency, so to pay for the hotels, oil work, water systems, elecetric company, sanitation for the country, and so on and so on, they have to have a currency everyone will take…so what must happen for this to occur?  Shabbs [Dr. Shabibi] said the dinar will be the most valued and thus most respected currency in the world.
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Kaperoni (Dinar Guru) –  No matter how you look at it, Iraq cannot make it another year without currency reform.  The numbers make it impossible.  So as we said in Oct, the remaining 3 months would be important, the next few months of 2016 are just as important, if not more so.  Iraq has worked (or lack there of) themselves in a corner and they either launch the market economy, currency reform and create businesses and jobs or fail and go broke.   …the government is shut down, and nothing will be posted until Sunday when it opens back up. I do expect something since the CBI came out and said so in there statement which clearly said…”Decides to re-evaluate these investment shares at the beginning of 2016..“ What that means or how it effects us, we will have to wait and see. But something will happen.  As for the how many times have we heard this before? That is not necessary true, yes we have said so, but never like this.  …I cannot recall ever stating the CBI is going broke, or the reserves are diminishing. These are not opinions, but fact. And many of the worlds experts have also concurred. So until Iraq gets this market economy moving, and initiates currency reform (which IMO includes Article VIII) they will continues to be in this predicament. The only solution to the problem is to bring the world’s money to Iraq.  
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wmawhite (Dinar Guru) – [ I have high hopes this time around. Hope Iraq can follow through.]  I am trying not to be too over the top hopeful…but, I am hopeful too…something in the next few weeks/months.
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Poppy3 (Dinar Guru) – WE ALL KNOW THE STATUS AND WHAT CBI , WB, UN, IMF HAVE ALL TOLD US IS HAPPENING SO REALLY ALL WE NEED TO DO NOW IS WAIT PATIENTLY AND LET THEM DO WHAT THEY SAID TO THE WORLD THEY WHERE GOING TO DO THIS MONTH.  

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