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…
Mrs. BGG
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Iraqi Dinar/Dollar auction (most recent listing) 07-31-16
Currency Auctions Announcement No. 3248
This daily currency auction was held in the Central Bank of Iraq on the 07-31-2016
The results were as follows:
| DETAILS | NOTES |
| Number of banks | 31 |
| Number of remittance companies | 16 |
| Auction price selling dinar / US$ | 1182 |
| Auction price buying dinar / US$ | —– |
| Amount sold at auction price (US$) | 162,823,950 |
| Amount purchased at Auction price (US$) | —– |
| Total offers for buying (US$) | 162,823,950 |
| Total offers for selling (US$) | —– |
More: http://dinarupdates.com/blog/
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The share-the-wealth movement appeals most to those with the least to share. – Anonymous
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*** Current News ***
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firefly (Dinar Guru) – Rasheed bank stated they cannot issue Mastercards without the deletion of the zeros…
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rcookie (Dinar Guru) – Article: “CBI gives, government banks until next September, to adapt itself to electronic systems” CBI ISSUES STATEMENT GIVING BANKS UNTIL SEPTEMBER TO ADAPT & IMPLEMENT ELECTRONIC TRADING SYSTEMS TO ADDRESS CASH CIRCULATION PROBLEMS (LIQUIDITY)…
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mike (Dinar Guru) – Article: “Iraq’s oil exports rise 3.2 million barrels in July” 3.2 mbpd multiplied by roughly $40 bucks a barrel gets Iraq a skosh over $3.8 billion a month in earnings…they’re not even making enough to make payroll. Add in the war on ISIL, infrastructure expenses and a bunch of other stuff and these guys aren’t in a good place financially.
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firefly (Dinar Guru) – Expecting a lot of forward movement! Things are moving along quite nicely.
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Frank26 (Dinar Guru) – [I’ve got this feeling deep down inside that August will be truly a start for new beginnings.] IMO…August can be looked as a New Beginning BUT…Sept/Oct will show You an evidence of Your Faith.
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Shredd (Dinar Guru) – Article: “Iraqi Central Bank revealed on Monday, all give him the government banks until next September, to adapt itself to electronic systems and transactions…” [the deposit law is done and has been Gazetted?] had to be for this move. as the credit rating improves, banking laws implemented and ease of transactions, we are seeing big steps being taken these last few years to get Iraq on par with participating in the lending/borrowing investment economic process. Steps forward not steps backwards…and with the deposit law, good stuff!
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tlm724 (Dinar Guru) – Loving the news outta Iraq! Article: “Iraqi Central Bank revealed on Monday, all give him the government banks until next September, to adapt itself to electronic systems and transactions…” love a time schedule…The central bank gives the government banks until September to adapt itself to the electronic systems. …take advantage of 77 percent of the money supply in the possession of citizens outside the banks, get rid of the cash circulation problems…get those dinars in the bank! only 10 % of the population is using the electronic system right now but not for long! this is going to bring in trillions of dinars off the streets which is exactly what we want! stability is ongoing as well, all the things needed to make the transition and delete the zero’s!
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Blondie (Dinar Guru) – Has the trigger for exchange notifications been pulled as of right now? No. As always, we don’t know the date or time. But all indications are that we continue to be inching towards that date and time in very short order – as of this moment. There is no information indicative of an unplanned interruption in the process at this time. I remain highly encouraged and optimistic.
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“Immediately following News Time!!”
8/01 “After Call” – w/RCookie,
Mr White & Hutch
Smart phone user link – Click here
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firefly (Dinar Guru) – Article: “Parliamentary Finance is discussing with the new managers of the banks to maintain liquidity” Quote: “Parliamentary Finance Committee discussed with the new bank directors, maintaining Iraq’s cash flow from waste, as well as discuss the Banking Act.” as well as discuss the Banking Act. Quote: “These meetings aim to walk according to the draft reforms as well as for the organization of Iraqi banks and prevent manipulation.” the draft reforms…REFORMS!!! …expect some great news this week. I’m looking for some huge items mid week. ALWAYS follow the money. They could talk economic reforms all they want but… What can you do at 1166?
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Kaperoni (Dinar Guru) – Article: “Economy and investment parliamentary host the five Iraqi banks managers” Quote: “The committee of economy and investment parliamentary five banks managers in Iraq today hosted to discuss the reality of the banking business…” Good to see the banks and CBI in the news. Like we have said many times, there is no market economy until their is a banking system in Iraq. And these last few days they seem to be more focused on activating it. The good news is that activating the banking system means a change in monetary policy and currency reform. So progress is happening ever so slowly…it’s coming.
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tlm724 (Dinar Guru) – This will open them up internationally, reduce corruption and eliminate red tape. There won’t be much need for the currency traders either. Also it will stop much of the currency counterfeiting! This will reduce and eventually eliminate the need for the dollar as the program gets into full swing. This opens the door for the deletion of the 3 zero’s!! This is everything “currency reform” the epitome of the plan! The stars are lining up. [post 2 of 2]
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tlm724 (Dinar Guru) – We saw Ernst & Young taking control of the state banks and they indicated it will take 125 working days max to do what needs to be done. Which should be somewhere around November for completion. The timing is no coincidence I am sure. Back in June the Cabinet approved the launch of electronic applications for the 6 trillion dinar stimulus loans, even the Integrity Commission is electronic now. So the announcement from the CBI is saying they preparing the infrastructure and facilities for E-dinar, getting everything ready for the end of the year or the beginning of 2017. Tis a beautiful thing! [post 1 of 2….stay tuned]
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Bondlady (Dinar Guru) – Article quote: “…Select the central bank governor on the Keywords, Saturday, 2017 as the date for the launch of the electronic currency through the mail or e-dinar cards…” This a well thought out plan and it obviously has the IMF written all over it…a well thought out plan to move the country forward with each step analyzed and implemented at the appropriate time! We have learned how Iraq has been setting up the smart card and getting the facilities ready in many of the provinces with the goal of having it in ALL of the provinces...this will bring in much of the dinar off the streets which we know is necessary to the currency reform plan.
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Flashing (Dinar Guru) – The fact that a country has gold, oil and other precious minerals is not enough to have a currency appreciation. It needs among other things the development of sound financial, fiscal and operating policies and procedures. It is a simple as this: you may have a have a million dollars today and next month- nothing… because you didn’t establish a budget to control your expenditures. So the appreciation of a currency is a complex and slow process. That’s why it has taken so many years. With that said, I am not calling the rv, but I am highly expectant any time now because if Iraq wants to show a high increase in their q3 export figure and a positive trade balance as forecasted, they need to do something asap. [post 2 of 2]
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Iraq: negotiations complete reshuffle kicks off today (WOW – short “Flashback”)…
Embarked on Iraqi Prime Minister Haider al – Abadi, first steps toward a cabinet reshuffle again, after it was approved, the first on Tuesday, on the resignation of six ministers from his cabinet , most of them belonging to the National Alliance
The Iraqi sources had confirmed for “new Arab”, the Abadi plans to reshuffle includes a number of ministers in his government and heads of independent institutions, such as the Central Bank and the Council of the Judiciary and the Electoral Commission.
BGG – (Since I NEVER do that – PAY ATTENTION…)
Read More: http://www.dinarupdates.com/blog/
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Flashing (Dinar Guru) – I have been quiet for long time seeing how people have become discouraged and frustrated. There is no banker holding up the rv, there is no Obama, Hillary, Bush, or Trump hold up. The rv is not being held up until the elections. These are stories we have heard for years and they do not justify predictions that have come and gone. Now is the time to be encouraged and alert. Iraq has been doing a lot of things that call for an appreciation on their currency (rv). There is a big increase in exports expected during q3 with a slight increase in imports. Just this is enough to expect a currency appreciation along with the policies and procedures they have already approved and implemented. [post 1 of 2….stay tuned]
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BGG (Dinar Guru) – …I don’t put alot of confidence in the comments by Alak in this recent article…Alak’s job has been in question for 6 months or a year… AND – they are talking more and more – especially over the last 2 weeks. (about removing him).
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tlm724 (Dinar Guru) – Article: “Basra council: the completion of the project port of Faw will solve major economic problems in the province” Article quote: “…the Chairman of Basra Provincial Council, Sabah al-Bazoni, that Basra must be seen Basra as Economic Capital of Iraq.” And so it appears Basra is on it’s way and so like a shining beacon of hope for Iraq!
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RCookie NEWS Recap
(from) WEDNESDAY JULY 27TH, 2016
GENERAL
UN JAN KUBIS STATES THE PRIORITY FOR KURDISTAN NEEDS TO BE WAR ON ISIS AND NOT INDEPENDENCE…JAFAARI THANKS KUWAIT FOR ITS CONSISTENT SUPPORT ON ISI AND DISPLACED SUPPORT AND POSTPONEMENT OF DEBT…JUDICIARY ANNOUNCE RELEASE OF 10,791 WITH SUSPENDED SENTENCES AND FOUND NOT GUILTY WITH 1608 CHARGED WITH TERRORISM…MALIKI CALLS FOR INTEGRITY TO RESTORE STOLEN PUBLIC MONEY AND DISRUPT & DISMANTLE ECONOMIC BODIES SET UP BY CORRUPT..…MINISTRY OF HEALTH & ENVIRONMENT AGREE TO ACTIVATE JOINT COOPERATION WITH JAPAN THROUGH JICA FOR INDUSTRY AND SERVICE ACTIVITIES…DISPLACEMENT & MIGRATION MINISTER ASSERTS MORE THAN 1 MILLION DISPLACED HAVE RETURNED TO THEIR HOMES SINCE BEGINNING OF ISIS OCCUPATION…PLANNING REVEALS 850,00 WIDOWS AND 600,00 ORPHANS ON LATEST 2016 STATISTICS…IRAQ & UNESCO DISCUSS SCIENTIFIC & HUMANITARIAN CURRICULUM DEVELOPMENT TEACHERS PROFESSIONAL TRAINING…IRAN CUTS ELECTRICITY SUPPLY TO IRAQ NATIONAL GRID TO 2 PLANTS TOTALING 800 MW WITHOUT WARNING DUE TO SELF PRESERVATION MECHANISM SYSTEM…JAFARI REQUESTS JORDAN EXPEDITE & FACILITATE PROCESSING VISAS FOR IRAQIS…JABOURI MEETS WITH NEW ZEALAND AMBASSADOR TO THANK FOR ONGOING SUPPORT AND INCREASE FUTURE BILATERAL TIES…ABADI OFFICE DECLARES SOME CATEGORIES OF INCOME TAX STILL UNDER DISCUSSION…ZEBARI MEETS WITH US & JAPANESE AMBASSADORS TO DISCUSS CONTINUED SUPPORT AWAY FROM DONORS CONFERENCE…
Read More: http://www.dinarupdates.com/blog/
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Brietling (Dinar Guru) – The Vietnamese currency is in play, BUT the best numbers I can guess is they are going to up 2 cents that’s about it. Timeframe no body knows. But it is in play because of what China’s done…they don’t have to compete. And basically President Obama went to Vietnam to hammer the nails in the coffin of China and basically said you don’t have to worry about competing with them we’re going to do business with you regardless of what the rate is. So that’s kind of like a green light for them to add value to their currency.
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ADMINBILL (Dinar Guru) – I DO NOT SEE THIS GOING PAST WEDNESDAY.
BGG ~ B.S. ALERT!!
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Kaperoni (Dinar Guru) – Article: “The central bank reveals the date of launch electronic currency” I don’t want to get people overly excited but this is very good news. The CBI has always stated that one of the reasons for deleting the zeros was to get rid of the zeros because it makes it difficult in calculations and errors can occur. I cannot see the CBI going to electronic dinar without removing the zeros first. Otherwise, it seems that they would only be creating a bigger issue than they already have. Keep fingers crossed.
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