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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http://www.cbi.iq/

Indicative rates – 09.14.2016

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In the mountains of truth, you never climb in vain. – Friedrich Nietzsche

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*** Current News ***

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Adam Montana (Dinar Guru) –    [Just to clarify things again. I thought an HCL law passage was or is not a factor into any implementation of an RV.]   It’s not “mandatory”, but I place it high in my personal opinion of catalysts for the RV.   [In your opinion, do you feel that in this end 1/4 of October Iraq will pull the RV trigger or do you feel it will be in 2017?  I’m in the camp of 2017.]  I won’t give a date, but I’ve made it clear that I’m positive for progress in the coming weeks/month.  [Do you think most of will actually live long enough to see an actual RV?]  Yes.
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Mnt Goat (Dinar Guru) –   Won’t all the hedge funds and investors scoop up the currency and cause a rush on it?  Yes – I am told this may happen and the rate could go very high over a period of time. The float, however, will be a “fixed” float meaning it will have a limit. They are not telling me the limit as it is sensitive information…of course. But we did hear Dr Shabibi say in the past that the IQD could sustain up to a value of $16 USD per dinar. This is all we know as FACTUAL and so I will not spread any rumors, hype or speculation on the future value of the dinar.  No Rumors, No Hype, just the FACTS, as always!   [post 2 of 2]
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Mnt Goat (Dinar Guru) –   …THE ECONOMIC AND FINANCIAL REFORMS ARE ALMOST ALL COMPLETED…  I am still on the path of window from Sept 1st 2016 to January 2017 to see a significant rise in the value of the IQD. I firmly expect to see between now and January to see the launching of the lower denominations (but no coins yet). When the CBI does launch the new notes (lower denominations) the IQD value will not change. I repeat will not change and the swap (or exchange) by the citizens within Iraq will be a 1:1 meaning the value will be a swap of 1 dollar value for something worth one dollar value.  I am being told by my CBI contact that if all goes according to plan we can expect a 90 cents to $1.17 USD rate change within a couple weeks after the newer notes are launched, but only when it is launched AND finally moved to the international exchanges. At this time the plan now is that the currency will be on a float and will no longer be stickily pegged to the USD (as it is today). Instead they plan to move it to a “basket of currencies”.   [post 1 of 2….stay tuned]
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Adam Montana (Dinar Guru) –   Not much to report today in Iraqi news or Dinar progress, but I kind of expected that.  …I’m leaning on October to be a big month in our news. My primary reason for not expecting much out of this week is their last long holiday of the year, Eid-al-Fitr…Eid-al-Fitr goes till Friday this week, and then we don’t have any more long holidays in the immediate future… which hopefully means they will be getting some WORK done.
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Backdoc (Dinar Guru) –   […we have friends who have only VND. IYO, do you see them RVing any time soon or maybe next year?]    THEY ALL START THE RACE TOGETHER IMHO! CAN’T HAVE DOUBLE DIPPING BECAUSE IT WOULD DAMAGE THE CURRENCIES THAT GO AT A LATER DATE!  IT WOULD INCREASE THEIR NOTE COUNT TOO MUCH.  I BELIEVE IT WILL BE AN ASIAN SURPRISE! IMO.
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Islandg1211 (Dinar Guru) –  The obvious biggest question is when is the IMF requiring the CBI to RV?  Unfortunately, they don’t directly state that. They stated in their December 2015 LOI that they wanted Iraq to join the international community “by mid-year.” Their June LOI states that the IMF wants the CBI to cut out their Multiple Currency Practices and move to Article VIII compliance – which requires the RV – “by the end of the year.”  The IMF is on top of exactly what Iraq is and is not getting done on time. That comes out through these articles on Friday’s meeting.  [post 3 of 3]
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Islandg1211 (Dinar Guru) –   So, how is Iraq doing implementing the IMF’s plan?  The Finance Committee has been working with the CBI and the IMF to draft their 2017 Budget. The Finance Committee is saying that they want to submit the 2017 Budget to Parliament this month.  The biggest issue with the Budget is setting the expected average price of oil per barrel. On Friday, the IMF set the price per barrel at $45.00 for 2017. There is progress being made in this area, namely that the 2017 Budget does cut spending, does reduce its reliance on oil, is being reviewed and set by the IMF, and is being drafted on time. That’s a lot of progress.  Also of importance, is that IMF audit of the CBI’s foreign reserves found that they had an additionally $10 billion. So the IMF is pleased with the Budget and the foreign reserve level of the CBI. (Also the passing of the Amnesty Law and a few new technocrat Ministers was real progress the last couple of months.)  The IMF will hold their next review meeting in October.  [post 2 of 3….stay tuned]
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Islandg1211 (Dinar Guru) –   The IMF met with the Gov of the CBI, Allak and the Finance Committee to assess Iraq’s progress to date in meeting their requirements.  To review, the IMF required that Iraq did a number of things, including determining their 2016 and 2017 Budget, passing laws, banking reforms, and monetary reforms.  The IMF stepped in last December with a LOI that covered the first half of 2016, then in May/June, the UST, WB, IMF, US and other nations combined in a coordinated plan for an umbrella plan for Iraq in which Iraq would get loans. The meeting last Friday was a review of progress of Iraq meeting the requirements.  The IMF is completely taking control of the structure and conditions they expect their plan for Iraq to be implemented. The IMF does not want to lend money without Iraq doing what they need to do. That’s they message that came out of Friday’s meeting.  [post 1 of 3….stay tuned]
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Breitling (Dinar Guru) –…There’s an article taking about de-pegging from the US dollar.  Ok just pure math.  We know the US dollar dominate about 70% of the world’s international trade.  Just based on that math…do you think that it would be a good idea for Iraq to de-peg itself from the most powerful currency that’s ever existed on the face of the earth?  Do you think that is a wise decision?  Do you think the US treasury and US government setting up their currency…we’re the ones who got rid of their old currency and we’re the ones to help setup their new currency…do you think there is any room for that type of shenanigans?  No there is not.  I appreciate articles that come out but some of them are so obnoxious that they should be indicators all by themselves that the person who wrote that is completely off the wall.  They are not going to de-peg from the US dollar.  This is not opinion at all…the US dollar is getting stronger and stronger and stronger.
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Kaperoni (Dinar Guru) –  Article:  “The central bank determines the sale of $ 5000 for citzens across the bank Rafidain and Rasheed”   Quote:  “…the central bank boosted bank balance Rafidain and Rasheed dollar in order to direct the sale of hard currency from the dollar to citizens traveling outside of Iraq.”  I like how the CBI has these meetings with the IMF and when they come home, they usually do something right away. Clearly the IMF told them last weekend, raise the minimum at the banks.
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Frank26 (Dinar Guru) –   The government right now is actually gone…it is a certain type of holiday that is a continuation of Eid.  Let’s look after the holiday…because they are looking at about a five day holiday for this Sacrifice Feast…after their Eid ended…and if you include these extra days…Friday, Saturday, Sunday…it is a total of about nine days that the GOI has to come back and communicate with the CBI…and determine if they are going to follow this last step…the CBI said they would lift the 000’s…and would be ready by 2017…but that was before this meeting with the IMF…the latest information we have from the CBI website in Arabic…Allak knows these steps…and under his watch he may get some very big credentials…if when they come back the CBI and the GOI decide to lift the value of their currency.   [post 3 of 3]
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Frank26 (Dinar Guru) –   …they must finish their Financial Reform…the CBI is giving you their step by steps…this information about the IMF and Iraq is HUGE. A long time ago the IMF told them…we are going to help you but you have to lift the 000’s…and in December of last year…they laid out the plan…and here we are seeing it unfold…would you not agree with me that they are international.  IMF said look we will take you into the international theater by the middle of the year 2016…and they did..and now it is their turn IMO to finish the final obligation that the IMF demands of the GOI and CBI. …the conclusion of Fallujah has brought the Economic Reforms…it is the Financial Reform of the CBI that needs to be done now…the CBI…along with the GOI is about to follow these orders…IMO.  [post 2 of 3….stay tuned]
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Frank26  …the IMF met with Iraq this past week…and they told them in order to receive any further loans…like for example the $650 million dollar loan that is waiting for them in November…they have to do two final things that they have not done…you have to finish the Financial Reform…before November…this is Iraq’s window…IOO.  Allak is saying the very same thing…all is done…but the currency reform is not…it is the only thing that is left…and the IMF is demanding that they do this before November …the CBI and the IMF are now talking about these issues.  The Rafadain and Rasheed Banks are now poised and set to make loans to citizens…and even to sell the American dollar to the citizens and…why…because the auctions will eventually disappear…because there were the requirements… among many that the IMF had for them…but they have not completed the Financial Reform.  [post 1 of 3….stay tuned]
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Kaperoni (Dinar Guru) –   Article:  “The central bank determines the sale of $ 5000 for citzens across the bank Rafidain and Rasheed”  Quote:  “The Iraqi Central Bank announced on Tuesday (September 6), the processing bank Rafidain and Rasheed exchange of foreign currency to the dollar expansion of cash sales outlets to citizens via their branches in the capital Baghdad and the provinces.”   More good news.  They are following the IMF concerns and liberalizing the foreign exchange.  
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Backdoc (Dinar Guru) –    NOW WE WAIT FOR THE CONCLUSION AS WE SEE IT IN PROCESS! WITH THE BUDGET RIDER ACTIVATED AND LIKELY LAUNCHED ON THE 8TH WE SHOULD SEE FURTHER ACTIVITY BY THE 10 DAY WINDOW.  THIS SEEMS TO ALIGN WITH THE IEX SCHEDULE WHICH SAYS TRADING WILL RESUME SOMETIME AFTER THE 15TH! IRAQ CAN WAIT TO PUBLISH THE BUDGET FOR AWHILE SO I’M PICKING NO DAYS HERE BUT WE ARE ENJOYING THE COMPLETION PROCESS AREN’T WE? OCTOBER USHERS IN THE NEW ASSET-BACKED DIGITAL NEW REALITY AND WE ARE MORE THAN READY! JUST ENJOY DAY BY DAY SEEING THE REAL TIME CONCLUSION PROCESS!  YES ITS REAL!  PINCH YOURSELF!  IMO.   [post 2 of 2]
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Central bank: there is no process of converting $ 6 billion out of Iraq

BAGHDAD / obelisk: The Central Bank announced the absence of any transfer of $ 6 billion and $ 455 million operation to calculate Hamad al-Moussawi outside Iraq.

According to the central bank sent the book to the Committee on Parliamentary Integrity, on 4 September 2016 to the absence of any transfer of $ 6 billion and $ 455 million outside Iraq to account Hamad al-Moussawi.

He held the book signing bank governor agency.

The leaked documents, indicated that al-Moussawi, fled the above amount to outside Iraq, and the issue was raised again by the Finance Minister Hoshyar Zebari said after the questioning session…

Read More: http://www.dinarupdates.com/blog/
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Backdoc (Dinar Guru) –   LOTS OF INFO BUT MOST OF MY STUDIES ARE TOO SENSITIVE TO TALK ABOUT.  WE ALL KNOW HOW IRAQ REDUCED ITS NOTE COUNT BY DOING THE CURRENCY AUCTIONS BY SELLING  DOLLARS AND PULLING IN DINAR.   THEY METHODICALLY DESTROYED THE PAPER THUS REDUCING THE NOTE COUNT!  I LOVED SEEING THAT ARTICLE ON THE 7TH THAT STATED IRAQ HAD ENDED ITS INTERNATIONAL FINANCIAL MESSAGING SERVICE!  YES A COMPLETION ON THE 7TH!  OF COURSE THEY WERE BEING SNEAKY ON HOW THEY STATED IT BUT WE ALL KNOW THAT WAS THE SWIFT CODE RIGHT? RIGHT!  THEY ARE NOW E-DINAR AS THEY SAID THEY WOULD BE!  SO OBVIOUSLY THEY ARE NOW ON THE THE CIPS WHICH IS THE NEW DIGITAL PLATFORM WHICH CAN RUN BOTH!  [post 1 of 2….stay tuned]
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Mailman17 (Dinar Guru) –  THEIR MAIN CONCERN IS WHATS INSIDE IRAQ, NOT OUTSIDE. WHAT WE HOLD IS NOTHING IN THE GRAND SCHEME OF THINGS AS THAT ALSO WILL FIND ITS WAY INTO OUR TREASURY AS OTHER COUNTRIES AS WELL. SHABS [DR. SHABIBIS] PLAN FROM DAY ONE WAS AND ALWAYS WILL BE ON PAR 1-1 AS HE HAS STATED MANY TIMES. A 1-1 WITH IRAQ BACKING ONLY A SMALL % OF PHYSICAL DINAR IS VERY PLAUSIBLE, ESPECIALLY IN REGARDS TO OTHER ASSETS THEY HOLD OTHER THAN GOLD. REMEMBER PHOSPHORUS? I DO THINK MOSUL IS A LOT FURTHER ALONG THAN REPORTS SHOW.  IT IS THE LAST DOMINO IMO AND WE JUST WAIT FOR THE ANNOUNCEMENT. THEN I BELIEVE REFORMS WILL TAKE OFF ASAP. AND I HATE TO BRING UP HISTORY, BUT IRAQS FINANCIALS AS REPORTED ARE QUESTIONABLE AT BEST AS THEY HAVE BEEN FOUND WITH 2 SETS OF BOOKS IN THE PAST. SOMETIMES WHAT YOU SEE ISNT ALWAYS WHAT IT IS. IRAQ IS READY…ARE YOU? I KNOW I AM…AS ALWAYS JMHO.  [post 2 of 2]
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Mailman17 (Dinar Guru) –   I DO AGREE WITH [GURU] BREITLING AS FAR AS IRAQ GETTING THE NOTE COUNT DOWN, BUT, AS MUCH AS THE NOTE COUNT MATTERS, ITS WHAT REPRESENTS THE M2 THAT REALLY MATTERS IMO…THEIR M FACTOR REPRESENTS NOT ONLY PHYSICAL DINAR BUT DINAR ON THE BOOKS AS NUMBERS AND NOT ACTUAL PHYSICAL CURRENCY. WE ALSO HAVE TO REMEMBER JUST HOW MUCH ACTUAL DINAR IS BEING HELD AS BACKUP CURRENCY BY OTHER NATIONS, ESPECIALLY THE PARIS CLUB. HISTORY TELLS US THE US ORIGINALLY LENT IRAQ 20 BILLION U.S. IN LIEU OF DINAR.  AT THAT TIME THE RATE WAS 4000-1. ADD IN THE OTHER MAJOR COUNTRIES, AND 41 TRILLION ISNT THAT MUCH FOR IRAQ TO HANDLE BECAUSE THE MAJORITY OF THAT IS FOREIGN CURRENCY RESERVE FOR OTHER COUNTRIES.  [reference Guru Breitling post 9-13-2016]  [post 1 of 2….stay tuned]
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Allawi: Keywords ineligible for the management of the Central Bank of Iraq

Treasures Media / Baghdad confirmed by former Secretary of Communications Mohammed Tawfiq Allawi , said Governor of the Central Bank of Iraq on the Keywords, does not know how the bank manages under these tough economic conditions, noting that “Iraq is moving toward a serious economic cliff…

Read More: http://www.dinarupdates.com/blog/
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Breitling (Dinar Guru) –…articles coming out with banks having problems giving people Iraqi dinar.  Remember this is a two pronged attack.  They are trying to reduce the dollar amount because the only way they can reduce the note count and add value to the currency…is to make sure people aren’t addicted to the US dollar…so there is a balance there.  We don’t have enough information to calculate.  At what point are they pulling dollars off?  and at what point are they reducing the note count.  And at what point are they more heavy than the other?  We don’t know.  BUT we know what to look for and we know the key words they’re saying and what it means for us…Between 80 and 85% of notes in Iraq are 25K notes and they say they have about 41 Trillion in dinar…divide that up into 25K notes.  and you’ll figure out about what the note count is at.
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BGG (Dinar Guru) –   [any late news on the progress of the dinar?]  I am sure the next few days will be very revealing – and…or I should say…the biggest news would have been the full context of the results of the IMF – Iraq meetings/review in Amman, Jordan…as that news comes out – it will be interesting and…we’ve got a few developments coming soon – GOOD STUFF.
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Breitling (Dinar Guru) – …No.  I’m all about measure and I don’t know how to measure that.  It’s very simple…if you see someone and they have a car frame and it’s just sitting there and they have an engine and it’s just sitting there separate and they’ve got wheels and they’re separate…you know they’re building a car especially when you look at the parts…you probably can tell what type of car they’re building.  Is it going to be a race car?  Well if they’re using race tires and an engine that’s bigger than what everyone else’s then it’s pretty much going to be a race car right?  So that’s what we’re looking at.  That’s the only thing I can go by.  To me it sounds goofy when I have to use that type of example…a lot of people got into the dinar because of intuition but I don’t calculate by intuition.  I don’t believe in it.  I don’t believe in hope.  I don’t believe in any of that stuff.  If I can’t see it.  I can’t measure it.  I can’t invest in it.  So you know this is an indicator but it’s nothing that’s measurable so you have to be very cautious when looking at it.   So very very good articles coming out. [post 2 of 2]
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