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…

2 Corinthians 9:8 (NKJV)

8 And God is able to make all grace abound toward you, that you, always having all sufficiency in all things, may have an abundance for every good work.

Heavenly Father, Thank You that You are Faithful and True! Thank You for Your abundance of amazing grace for every good work.

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 – 01.08.2015 (no change as of 1/07)

http://www.cbi.iq/

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The idea is quite unfounded, that on entering into society we give up any natural right. – Thomas Jefferson

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*** Current Posts ***

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wmawhite (Dinar Guru) – Quote:  “Central banks are buying gold coins called gold and confirms the arrival of the 100 dinar coin”   …this new CBI announcement appears to be straight forward and is in keeping with what they said they would do four weeks ago. At that time the CBI stated that 70% of all of the currency that is out in Iraq was being kept by individual citizens and that they (CBI) had plans to draw that currency into the banks. Well, here it is. However, what is more amazing is what appears to be the placing of a value upon the individual dinar based upon a world accept value of gold. If the translation is correct the CBI is stating that they are selling 15 and 25 gram coins for 100 IQD and 250 IQD. The current spot price of gold is $1,100 per ounce. 25 grams is .77 oz. .77 of $1,100 is $847.  Divide $847 by the 250 IQD and you have an equal value of $3.38 per IQD.   Interesting that the CBI would offer an accepted asset of great value for a currency of less value UNLESS the value is in the process of changing.
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Kaperoni (Dinar Guru) – From CBI – “To all licensed banks (the transition from the uniform accounting system for banks and insurance companies to international standards)”  Looks to me that the CBI has asked all the banks in Iraq to get up to international standards asap.
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Enorrste (Dinar Guru) – Article: “Central bank: Stamping contracted 10 000 specie to diversify their savings and get a 24 carat gold”    I suspect that the Iraqi economy is skewed so that the vast majority of the money is held by a small percentage of the population.  Therefore, while this won’t mean anything to the vast majority of the people in Iraq because they cannot afford to purchase the coin, those who can, will.  This small percentage of the people probably hold over 80% of the dinars anyway.  Furthermore, since gold is a “real” asset which will move up and down in value as gold around the world does, this will insulate the gold holders from a falling dinar.  Therefore, this “adjustment” of the rate to a lower rate is almost certainly being done to scare the big fish into purchasing the gold coins, thereby turning in their paper money.  All in all this seems like a well thought out plan on the part of the CBI to reduce the paper money in Iraq quickly.
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Adam Montana (Dinar Guru) – [Some time ago, it was reported Iraq applied for a credit rating. Any updates on that and what it means for budget and/or RV?]  No updates on it…we’re about at the time-frame that I suspected it would take, so I wouldn’t be surprised to hear about that again soon.  Of course, with a major change in the rate, the credit rating may be delayed… but at that point, we won’t care.
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Frank26 (Dinar Guru) – Vietnam has actually bowed and will be walking away from a fixed currency…fixed for many decades…you are telling us to make it a free float…yes…a free float that certainly won’t go downward…go to the Central Bank of Vietnam…what they are doing right before your eyes is exactly what Iraq is doing.
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Admin Bob (Dinar Guru) – Article:   “Central bank: Stamping contracted 10 000 specie to diversify their savings and get a 24 carat gold”   Quote:  “…a confirmation of his announcement earlier intention to sell gold different weights for those wishing to purchase it from the citizens…”     Sure looks like this is part of the plan to get the dinar out of the citizens homes.   ...a means of consolidation which is a very basic but effective plan to exchange a manageable Iraq gold coin for dinar.  With trillions of dinar held by citizens, they should jump at the chance to get rid of it.
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wmawhite (Dinar Guru) – “The bank said it “received the first category of these coins that are weighing 15 grams…”  So I read a comparison of 250 dinar with 22 grams for a gold coin.  22grams = 0.77 oz.   so…250 = approximately $800.  $3.22 per IQD.  Based upon the spot price of gold at $1,100 per oz.  Something going on…not sure what it is.
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rcookie – THINK IVE GOT NEWS THAT LD’S AND GOLD OUT AT BANKS FOR DISBURSEMENT…  Article quotes:  “in order to diversify the public savings and to ensure receiving a gold 24 carat has contracted with an international company…”  “received the first category of these coins that are weighing 15 grams,” “It calls for central banks to buy gold Meskukath and confirms the arrival of specie 100 dinars…”   ITS THE GOLD TO GET ACCOUNTS OPEN…TO GET MONEY IN CITIZEN MATTRESSES OFF STREET AND IN BANKS…INCREASE LIQUIDITY TO FINISH MONETARY REFORM…AWESOME NEWS! Turning point for sure!
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Kaperoni (Dinar Guru) – Article: “Central bank: Stamping contracted 10 000 specie to diversify their savings and get a 24 carat gold”   Quote:  “…a confirmation of his announcement earlier intention to sell gold different weights for those wishing to purchase it from the citizens…”  Just think of all the dinar the CBI will collect selling these coins.  We are beginning to see some momentum.  If you think about it, Iraqi’s are giving up a big stack of worn out paper for a coin.  20 million dinar is like 26 coins.  Much easier.
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BGG – [SMART CARDS BEING LOADED HAS TO BE A GREAT THING? CAN THEY MAKE THAT WORK AT 1182?]   it is not impossible for them to make the smart cards work at 1182 – I don’t get why they would though?   [would they have to be international currency for the smart cards? To cross borders to pay in other countries?]  they don’t have to – but they will.
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Adam Montana (Dinar Guru) – According to the latest, we should be seeing the Budget OFFICIAL around mid-month, and there is strong talk of getting the oil law rammed into place as well. I LIKE IT! According to the news, Parliament resumes on the 16th and the second session will be on the 19th. If I had to point at any key dates, those are pretty high on my list. Now, besides the fact that this is the earliest I’ve ever seen the Budget on track to be done since I started following Iraq, and the very real fact that they are seriously working on getting the HCL accomplished, there is just a great “feeling” that things are going well for them (and therefore us as well). 2016 has a great shot at being THE year, friends!
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“Round Table” Dinar Call!!

“for Dinar News – that MATTERS!!”
from 01/07 – 5:30pm CST

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Poppy3 (Dinar Guru) – V/N [VIETNAM] MINISTER OF FINANCE SAYS WILL MAKE A MAJOR ANNOUNCEMENT WITHIN THE NEXT 48 HRS? HAVE NO IDEA WHAT IT IS HOPE ITS ABOUT CHANGING OR CHANGING THEIR RATE?
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BGG – […on the10th they are activating the smart cards to deal with tariffs as I understand and was wondering if they did that do you think we might see something then or shortly after?]  I have long said – “when you see the tariffs you will see a rate”… if they enact a broad tariff structure WITHOUT a rate (or currency shift of some kind) that would help mitigate the damage to the citizens – I WILL BE STUNNED. I am about 99.75% on this one.   …obviously – anything is possible. However, their own economist have warned them over and over… (AND the IMF is involved now).
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wmawhite (Dinar Guru) – Article:  “Deposit Insurance Law does the economy”   the deposit insurance strengthens the investment law activity and is another sign of them moving to a market driven economy…they are showing us their preparations.  They are preparing for the move.
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Kaperoni (Dinar Guru) – Article quote:  “The other option is how to raise the Iraqi dinar exchange rate, although it may be a risk of selection have repercussions.”   I think the move to a market economy is being kept very tight lipped. As a result we are seeing all kinds of opinions coming out on how to solve the financial problems. I don’t see devaluing the dinar as a viable option when Iraq is totally dependent on imports. As well, reducing salaries is not an option as both would cause chaos. I think Abadi is going to look like hero pretty soon when they launch this event (sometime during 2016).
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SteveI (Dinar Guru) – I did talk to [Guru] Ray last night and he confirmed the very same thing my guys are telling me, nothing will happen until this country is secure. Mosul is, according our sources, the the last major hurdle. Because it is so close to the Syrian border that once that city is back in Iraqi control, then and only then will they attempt to close the border and activate a change in value.   [post 2 of 2]
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SteveI (Dinar Guru) – Article: “Zebari is likely not possible distribution of salaries in April”  I have been talking to some of my contacts and so has [Guru] Ray. All of us including our contacts are saying that Iraq has a dismal future under the current conditions. In order to change the value of their currency for the better, there has to be many laws in place.  All of the work in the “Monetary Reform Policies” are meaningless with the obvious. No country, or outside companies will come into Iraq and invest to help them develop their economy under the current circumstances. Matter fact, many have pulled out until major changes are made. [post 1 of 2….stay tuned]
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It calls for central banks to buy gold Meskukath and confirms the arrival of specie 100 dinars

Called on the central bank, on Thursday, the banks to buy gold Meskukath, and while noting the arrival of specie 100 dinars category, stressed that the price of 720 000 dinars. The bank said in a statement Alsumaria News a copy of it, that “in order to diversify the public savings and to ensure receiving a gold 24 carat has contracted with an international company Stamping 5000 specie souvenir gold “, adding that” the coins are from 100 dinars category weight of 15 grams on the occasion of Eighty-fourth anniversary of the founding of the Iraqi PMA 1930, in addition to the 5000 specie category 250 dinars weight 22 grams on the occasion of sixty-eighth anniversary of the founding of the Central Bank of Iraq in 1947 “…

Read More: http://www.dinarupdates.com/blog/
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Poppy3 – THEY…SAID COMPLETE REFORM BY MID YEAR BUT THE PROCESS TO OBTAIN FULL MEMBERSHIP TO WTO WAS SAID TAKES A MINIMUM OF 5 MONTHS SO THAT TO ME SAYS THEY NEED THE NEW RATE THIS MONTH TO QUALIFY…NOT IN JUNE. 
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rcookie – I AM CONFIDENT IN KNOWING THAT EVERY THOUGHT PROCESS…ACTION…AND POLICY IS BEING DRIVEN BY IMF…WITH THE STATED INTENTION OF BRINGING THIS ECONOMY LIVE IN 2016.
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Enorrste (Dinar Guru) – Having said that, however, Saleh is on record that some of the smaller notes will actually be destroyed as they are exchanged for the 50k notes.  The result of that destruction is a reduction in total money supply which would therefore raise the value of the dinar.  In other words, this process would actually be deflationary rather than inflationary (one would get more for his dinar rather than less in the market due to the reduction in money supply).  This is a good sign.  The plan is beginning to fall together.   [post 2 of 2]
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Iraqi Dinar/Dollar auction (most recent listing) 01-07-15 

Currency Auctions Announcement No. 3110

This daily currency auction was held in the Central Bank of Iraq on the 01-07-2015

The results were as follows:

More: http://dinarupdates.com/blog/
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Enorrste – Article:  “Economist: 50 Thousand category did not affect the “inflated” prices in local markets”  The simple fact is that there is no way to introduce the 50k note other than as an even exchange.  After all, the CBI isn’t in the business of just giving out money.  Therefore, smaller notes (or dollars) would have to be given in exchange for the 50 k note.  For this reason, then, the total money supply does not change, which means that it cannot be inflationary.  [post 1 of 2….stay tuned]
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Blondie – IMHO, there’s an *urgent* need to jump-start the private sector. …there would be more jobs than they have “work-capable” people to do them…   It’s then possible that people from neighboring countries might RUN to Iraq for work. All these jobs create income taxes and thus, tons of revenue to the GOI. Iraq could go from a ‘liquidity crisis’ to being flush with cash in practically no time at all. Therefore, exploding the private sector becomes the lynch-pin in the plan — without it, the whole plan fails. As Zebari stated, at current oil prices, Iraq would likely become insolvent waiting for oil prices to go up. Revaluing the currency in order to jump-start the whole process is (imho) one of the key first steps. Eliminating ISIS is also necessary and Iraq has also made enormous strides in that effort as of late.  [post 3 of 3]
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Blondie – They’re also considering only paying employees a portion of their salaries at that time, the unpaid amount would be an IOU (again, ‘kicking the can down the road’ and not solving the real problem). …he says nearly 20% of the citizens in Iraq work for the government! …the WB/IMF had a loan prerequisite of cutting government payrolls. Clearly, nepotism (family, in-laws, friends (who do nothing) are on the payroll) and corruption is a problem.   [post 2 of 3….stay tuned]
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BGG News Time Chat 1-07-16 PM

Thanks to Dinar Detectives for a post and Dinar Recaps for posting this in their BLOG

Welcome to dinarupdates.com for News Time with BGG!!

BGG: BTW – I get asked all the time – why would I post something I don’t COMPLETELY agree with??

BGG: Simple – who am I?? Just because I may or may not agree with “so and so…” doesn’t mean I won’t pass it on… (AND) we have “culled out” those I believe to be legit CON ARTISTS.

diagyAAAE: Is Iraq under Islamic Sharia Law? Are they considered an Islamic Country?

satrib: works for me…thank you

diagyAAAE: Religious Affairs: Do not “sanctity” to borrow from the International Monetary and Iraq is not an Islamic state

Wednesday 6 January 2016 | 19:21 BAGHDAD / .. The head of the Committee of Religious Endowments and Religious Affairs Abdel Azim parliamentary Ajman, Wednesday, borrowing from the International Monetary no “sanctity” the fact that Iraq is not an Islamic state and of government is not based on the “Caliphate”.

He said Ajman’s “Eye Iraq News” that “borrowing and usury is forbidden in Islamic law, but the situation in Iraq and the conditions experienced by the economic higher interest require the borrowing of some countries,” noting that “Iraq does not deal with an Islamic state, so there is a violation of the proceeded through borrowing Including”.

diagyAAAE: He said “there are international laws and the Iraq applied even if violated Islamic law, the fact that the supreme interest and the interests of the people requires that governance in Iraq is not an Islamic and succession approach,” stressing that “in the absence of borrowing and not to give the government the salaries of the staff may prompt some employees to different crimes for a living .. In borrowing pays the damage on the Iraqi people. ”

In what was considered a member of the Committee of Religious Endowments and Religious Affairs MP Salim Chockh Yi, a painful Wednesday, Iraq borrow from the International Monetary Fund “violation” of the provisions of Islamic Sharia law.

It announced the World Bank, in (December 18, 2015) agreed to give Iraq a loan of one billion and 200 million dollars to help Baghdad in controlling public finances and improve the efficiency of the energy sector and offset the decline in oil prices and the escalating costs of security conditions.

diagyAAAE: aynaliraqnews.com

BGG: I don’t think that would be accurate… they are heavily “influenced by Islamic teachings” – but generally (and historically) they have been something of a “secularist Muslim country”… what does that mean… not easy to quantify – but they are no Iran.

BGG: and this – generally – is probably good for us…

diagyAAAE: I would have to agree
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Read More: http://www.dinarupdates.com/showthread.php?28201-Bgg-news-1-6-16
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Blondie – [new Guru]   Article quote: “Finance Minister Hoshyar Zebari, on Monday, the inability to staff the distribution of salaries in the month of April, in the event of continued low oil prices, while noting that there are other options to avoid that… He added that ‘there are seven million people are paid salaries of Iraq’s total population of 36 million‘… He said Zebari, that ‘other option is how to raise the Iraqi dinar exchange rate, and although it chooses the risk and could have repercussions, but we thought of not granting full salaries…”   Zebari is saying that without immediate revenues, the GOI can’t pay full government salaries by April and oil revenues alone won’t cut it. Also, raising the exchange rate is an important option.  [post 1 of 3….stay tuned]
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Kaperoni – Article quote:  “the trading category 50 000 dinars did not affect the local market in terms of prices,”  The article…confirms that the 50k is in circulation.
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rcookie – ONE COULD ARGUE THAT A SEEMINGLY INCONSEQUENTIAL LAW LIKE MARITIME AND ENVIRONMENTAL LAWS THAT JUST RECENTLY PASSED…ARE FAR MORE RELEVANT TO TARIFFS… ECONOMIC…AND MONETARY ACTIONS THAN ANY AMNESTY LAW IS…ALL THIS PORT IMPROVEMENT…GLOBAL MARITIME COMPLIANCE IS SETTING UP FOR THE HUGE $6 BILLION PORT OF FAW PROJECT THAT WILL MAKE IRAQ THE ROCK STARS OF SHIPPING IN THE ENTIRE REGION AND WORLD…GETTING THEIR BEST PRACTICES IN ORDER FOR THIS VERY IMPORTANT PART OF THEIR NON OIL ECONOMY.
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