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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| CURRENCY | CODE | SELL | BUY |
| US dollar | USD | 1182.000 | 1180.000 |
| Euro | EUR | 1335.069 | 1334.401 |
| British pound | GBP | 1534.236 | 1533.469 |
| Canadian dollar | CAD | 918.986 | 918.527 |
| Swiss franc | CHF | 1228.946 | 1228.331 |
| Swedish krona | SEK | 140.232 | 140.162 |
| Norwegian krone | NOK | 144.958 | 144.885 |
| Danish krone | DKK | 179.453 | 179.363 |
| Japanese yen | JPY | 11.787 | 11.781 |
| Special Drawing Rights |
SDR | 1657.294 | 1656.465 |
http://www.cbi.iq/
Indicative rates – 08.17.2016
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The truth is cruel, but it can be loved, and it makes free those who have loved it. – George Santayana
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*** Current News ***
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mike (Dinar Guru) – Article quote: “…the lack of confidence of citizens in banks behind it are many reasons, such as lack the Iraqi government keeping its commitments to the private sector…” Literally, for years, we’ve read about the banks not being up to snuff, corruption and the governments lack of support for the open market economy. Statistically speaking, they can’t maintain this kind of failure and ineffectiveness forever, can they?
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Kaperoni (Dinar Guru) – Article: “Keywords acknowledges the absence of fiscal policy and accuses the institutions working for political interests Baaaguetha” Don’t confuse “fiscal policy” with “monetary policy” Fiscal policy is the means by which a government adjusts its spending levels and tax rates to monitor and influence a nation’s economy. It is the sister strategy to monetary policy through which a central bank influences a nation’s money supply.
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Jubouri eager to proceed with plans to speed up reform and enactment of important laws
The head of the House of Representatives, Salim al keen House of Representatives to proceed with plans to speed up reform and enactment of important laws.
A statement by the Information Office of the President of the Parliament received by all of Iraq [where] a copy of the “al-Jubouri, received in his office on Tuesday, the US congressional delegation headed by Democratic Senator Corey Booker and his accompanying delegation,” Mnohna as “During the meeting, research in developments in the political and security landscape on the local scene, as well as the regional situation and its implications, especially with regard to the war on terror dossier. ”
The statement noted that “the meeting, they discussed the displaced file and the conduct of the legislative work and the role of the House of Representatives to speed up the enactment of important laws.”…
Read More: http://dinarupdates.com/blog/
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Frank26 (Dinar Guru) – Quote: ”The Duties of the WTO Task Force is to Reduce the Difference of the Value of the IQD to the USD and Activating Iraq’s Private Sector” …the WTO is telling you they have a task force in Iraq and we are doing our best to close the gap between the IQD and the USD…by raising the value…The WTO is now in position to welcome them…how will you know when Iraq is international…the moment the WTO tells you they have accepted them as members…the international status of Iraq is eager to introduce their currency…not at a program rate.
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Breitling (Dinar Guru) – They [People who feel there is trillions of dinar out there] look at the CBI and they’ll look at the reports coming in and it says in their reserve they have 53 Trillion dinar or 61 trillion…at one time it was 81 trillion and then it went down. People don’t understand it’s all the assets combined…it’s gold, it’s oil, it’s the reserve, it’s not the country’s note count. There are 2 reports that come out…one report said they had 6 billion notes and how much dinar that represented…I’ve talked about this for years. Then the next report came out and it said it was down to 4 billion notes but it never came out with how much that 4 billion represented. People would get the countries note count mixed up with the countries overall value. [Part 2 of 2]
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Dinar Updates “After Call – LIVE”!!
“Immediately following News Time!!”
from 8/16 “After Call” – w/RCookie,
Mr White & Hutch
Smart phone user link – Click here
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rcookie (Dinar Guru) – Article: “Basra calling for the rehabilitation of border outlets being an important economic resource” …WHERE AT ONE TIME THE CUSTOMS TARIFFS INCREASES TO BE IMPOSED AT BORDER POINT WERE MAJOR OBSTACLE AND SOURCE OF CONTENTION IN THESE BORDER CROSSING AREAS…THE SUCCESS OF THE REVENUE STREAMS TO THE COUNTRY AND PROVINCIAL SHARE OF THE REVENUES HAVE THESE AREAS TRIPPING OVER THEMSELVES TO GET ENGAGED…WHAT A DIFFERENCE A YEAR MAKES.
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Breitling (Dinar Guru) – Article “Dozens demonstrate in front of the family bank in central Baghdad to demand their money…” People don’t realize this but this has been going on at more than one bank. The thing is the banks are not releasing cash to the citizens. And that’s strange since there are misunderstandings out there of how much dinar is out there. With all that dinar out there [Said sarcastically]. There’s a shortage of getting citizens their money? That worthless dinar? How does that happen? Strange circumstances don’t you think? With trillions and trillions of dinar out there…and that’s the accusation that’s out there…why would they have problems giving cash to people on the streets? [If there was trillions of dinar] It doesn’t exist. …it’s not a nation wide thing but it keeps happening over and over again. So again, my question is…With all these trillions of dinars? …It’s the note count and it’s something that’s not talked about… [Part 1 of 2]
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Mnt Goat (Dinar Guru) – By the time the new RV happens they want to have as much of the 3 zero notes already exchanged in Iraq as possible. The e-dinar implementation will also help too since I believe this is why they will use the e-dinar for months to pay people instead of hard currency. (from Sept 1st 2016 thru Jan 1st 2017)… This will not put any more new currency back into circulation and thus limit the possibility of 3 zero notes later. So they needed all this time to clean up the financial and banking system. Remember the IMF came into being a major player in the process in Oct 2015… This new 5.4 billion loan is bait…bating Iraq to go alone with the needed reforms. Also they do not want to give them this aid unless they can pay it back and the reforms are their assurance. They are supposed to get another 2 billion of the loan by the end of the year. Do you now see just how close we are to the RV? We are approaching an RV window…The window is Sept 1st 2016 thru Jan 1st 2017…its coming…at least they will attempt it one more time. [post 3 of 3]
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Mnt Goat (Dinar Guru) – For instance 4 of the $25,000k notes today is worth $100 dollars. Then they launch the lower denoms. The new $100 notes will be worth $100 dollars. Easy one note instead of four notes. No value change yet. But when they go to the bank to dump (exchange) their cumbersome, extra large 3 zero notes it will be a 1:1. They will turn in 4 of the $25,000 notes for one $100 new notes. Value stays exactly the same. So citizens in Iraq will have the exact same purchasing power only they won’t have to carry wads of these 3 zero notes of to purchase. Note they did not say 1:1 with the USD they simply said 1:1 with the old currency to the new currency value. When do we make our millions then? This is step #2: The process calls for bringing the dinar back to the true value pre-war years. This is the bonus for us, this is the RV. But this new rate will not have any effect on the Iraqi citizen… …the exchange rate we keep hearing about of $3.22 – $4.20 is for the USA value in dollars…our $25,000 dinar notes get exchanged to dollars. So at an RV of $3.00 we would get $75,000 for our $25,000 note. [post 2 of 3….stay tuned]
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Mnt Goat (Dinar Guru) – Remember this RV is going to be a two stage process. First they must launch the lower denominations at a 1:1 and then later comes the RV with an increase in value. The new value will coincide with the post war value plus equity. Article: “Economists divided over deletion of zeros on Iraqi dinar” This is an amazing article… This article confirms that the RV is a two step process. The First step: Quote: “that the step to delete zeros is merely an administrative process, and the currency equation should remain the same. This means that the purchasing power of the new currency should be equal to that of the old currency. He added that the two currencies should both remain in the market for a period not exceeding three years, then the old currency should be gradually withdrawn“. So how do they get the old currency to equal the new currency value from an RV we all keep hearing about? [post 1 of 3….stay tuned]
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Iraqi Dinar/Dollar auction (most recent listing) 08-16-16
Currency Auctions Announcement No. 3260
This daily currency auction was held in the Central Bank of Iraq on the 08-16-2016
The results were as follows:
| DETAILS | NOTES |
| Number of banks | 31 |
| Number of remittance companies | 15 |
| Auction price selling dinar / US$ | 1182 |
| Auction price buying dinar / US$ | —– |
| Amount sold at auction price (US$) | 139,098,650 |
| Amount purchased at Auction price (US$) | —– |
| Total offers for buying (US$) | 139,098,650 |
| Total offers for selling (US$) | —– |
More: http://dinarupdates.com/blog/
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BGG (Dinar Guru) – […2017 BUDGET WILL BE $82 BILLION AND BASED ON $40 PER BARREL…] I haven’t looked at any recent budget numbers – but doesn’t that leave them pretty short still? On the other hand, if oil spikes – which it always does – they will be in really good shape…in fact, REALLY good shape.
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mike (Dinar Guru) – To me, fisal policy = legislation. I don’t think you’ll find concrete evidence that he’s wrong, just the absence of the legislation that’s necessary for economic/monetary reform. I think we’re hearing a lot of discussion from the economists, IMF and even the CBI, but precious little from the government itself. I think they’re begrudgingly following the guidelines the IMF set up so they can have access to the loans, but I would agree with Keywords, they don’t have a long term plan. Hopefully I’m way off base and 2017 is the year… [post 2 of 2]
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mike (Dinar Guru) – Article: “Keywords acknowledges the absence of fiscal policy and accuses the institutions working for political interests Baaaguetha” I’m puzzled as to why Keyword’s would put these kinds of statements out today when there’s supposed to be a plan to move this country forward economically and monetarily. We keep hearing about a plan and yet Keywords is telling us there isn’t one. I guess time will tell, they told us Iraq would be part of the worlds economy by mid 2016 and now they’ve moved it to 2017, here’s hoping that is still the plan. [post 1 of 2….stay tuned]
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wmawhite (Dinar Guru) – …the “delete the zero project”…does not mean that a 1,000 IQD note becomes a 1 IQD note. The delete the zero project is the gradual removal of the larger notes from the market place…and that happens by the increase in value of the IQD which will reduce the prices in the market place, thus making the smaller notes usable. The fewer notes in circulation means a greater value of the currency. …the CBI has told everyone of us exactly what they are doing…We have the facts.
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Iraqi government is unanimously unclear
Iraqi Prime Minister Haider al-Abadi succeeded Monday in getting parliamentary approval for five of the names proposed to occupy ministerial positions in which The new government, which was promised months ago that consists of competencies away from quotas partisan reform that raise high the roof frame, but failed to implement any of its requirements, while large sphincter collided with the political blocs to maintain their share of ministerial and administrative positions.
In return for this little amount of “success” Ebadi received a painful blow parliamentary vote against conviction answers and Defense Minister Khaled al-Obeidi during his interrogation before the Council meeting earlier this month, paving the way for the withdrawal of confidence from him and his dismissal in a sensitive period of preparing the prime minister in which to achieve the completion of the war on organizing Daesh complete expulsion of the largest stronghold of him in Iraq; the city of Mosul.
The President of the House of Representatives Saleem al-Jubouri, Monday, insert the withdrawal of confidence from the Minister of Defence at a hearing next Tuesday…
Read More: http://www.dinarupdates.com/blog/
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rcookie (Dinar Guru) – Urgent: judiciary issued an arrest warrant on the security and defense ministry officer and secretary general of military intelligence and the son of Khaled al-Obeidi…! Quote: “An informed source said on Sunday that the judiciary issued arrest warrants against memorandums of people at the Ministry of Defense based on the confessions of the accused, who directed the minister to the media in accordance with Article 243.” WOW! OBEIDI’S SON AND DEFENSE MINISTRY OFFICIALS ARRESTED…
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SteveI (Dinar Guru) – Article: “Iraq is heading toward financial stability” Quote: “Najib confirmed that «laid plans by the government economic initiatives, very good and entered the implementation phase, there are small, medium and large size of more than six trillion projects Iraqi dinars, which will generate revenues and stimulate the economy in the near future »and showed the MP that the economic crisis in the country needs time to end it because of Iraq is unable to diversify its economy and sources of the budget, especially as the security situation in the implementation of economic plans and expansion by the advent of international companies to invest in Iraq.” I really like this paragraph…Just think of the potential of the outside investors and when the current value of their currency increases, the power of these economic initiatives will have on the global economy. I am very impressed and very pleased to be reading this type of news.
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DU NEWS RECAP by RCookie
WEDNESDAY AUGUST 10TH, 2016
GENERAL
GOLD AT 219,00 IQD TO THE WEIGHT…AUCTIONS AT $150 MILLION…ZEBARI PRESIDES OVER ECONOMIC AFFAIRS COMMITTEE ALONG WITH CBI GOVERNOR & CHAIR OF INVESTMENT AUTHORITY & INDUSTRY MINISTRY MEETING TO DISCUSS WINTER STRATEGY FOR BAGHDAD SERVICES PROJECTS WATER, SEWERAGE AS WELL AS PRIVATE SECTOR MEDICINE AND INDUSTRY…ABDUL BARI ZEBARI ELECTED TO PARLIAMENT FOREIGN RELATIONS COMMITTEE CHAIRMAN…JAFAARI ANNOUNCES ESTABLISHMENT OF FOREIGN CONSULS IN BASRA PROVINCE INCLUDING US, RUSSIA, KUWAIT, IRAN AND EGYPT FOR ECONOMIC & POLITICAL FACILITATION…NORWAY ANNOUNCES TOTAL RECONSTRUCTION SUPPORT TO IRAQ $10.6 MILLION FOR 2016…
Read More: http://www.dinarupdates.com/blog/
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tlm724 (Dinar Guru) – Article: “The Iraqi government signed on Thursday a memorandum of understanding with the United Nations requires the involvement of international investigators in the files, “grand corruption“ For months, Iraqis organize demonstrations in the capital Baghdad and the southern provinces, demanding the formation of a government of technocrats, and an end to political wrangling in Parliament, and to provide the corrupt to justice… hopefully this will help calm the people a lil.
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SteveI (Dinar Guru) – There is just too much going on in the back ground to support this happening that I am extremely encouraged. There are a few things going on within the ISX that if our team can really confirm, then that alone would put the icing on the cake for me. I believe that once Mosul is under control we are going to see some very happy days.
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