Dinar Observer Daily

Tivon – Dinar Guru   They just posted the other CBI article yesterday.  Article:  “The Central Bank will adopt a specialized electronic platform for the purposes of exchanging documents and data with all banks”  …Access to global financial markets? Does that sound like Financial Inclusion to you?  What can possibly be added to this monumental news?  It’s not even 8am and we got this.  Quote:  “...which will allow you to benefit from many services, including foreign exchange and shares trading, and access to global financial markets…“

Kaperoni – Dinar Guru   The recent articles over the last couple days from the advisor to the prime minister is encouraging in the sense that they are working to correct/improve the economy and as a result improve the exchange rate of the dinar.   But that does not mean anything is happening overnight.

Tivon – Dinar Guru  …What did Al-Kazemi command of his cabinets on June 23rd? To address the USD rate at the earliest legislative session correct? Well what is coming up this week? …the EFSL can not work without a rate change…So what does he request of all ministries this past Sunday? To adjust contracts & wages...

Mountain Goat – Dinar Guru   Article:  “THE PATRIOTIC UNION OF KURDISTAN EXPLODES A SURPRISE ABOUT THE PRESIDENCY OF THE REPUBLIC”   We could be getting very close the conclusion of the new govt. Let us hope & pray there are no other snags...

Pimpy – Dinar Guru  Until this government is formed, everything is stabilized, it’s going to be a while before the exchange rate has changed…

Samson – Dinar Guru   Article:  “After the judiciary opened an investigation into the audio leaks, Al-Maliki may face execution or life”  Quote: “If the recording is proven correct according to the judicial investigation, the penalties that will face those who threatened to kill, incitement to civil war, and incitement to attack a holy city, according to the anti-terror law, and the penalty is up to death or life, considering what was stated in the recording is a threat to Iraqi national security and stirs up sectarian strife according to Anti-Terrorism Law No. 13 of 2005.“

Mountain Goat – Dinar Guru  Article:  “…IRAQ IS PREPARING TO JOIN THE WORLD TRADE ORGANIZATION”   Does Iraq need an international currency to join the WTO?  No, they do not however, I believe they are attempting to do so prior to becoming a full member of the WTO.   Certainly an international currency would make it much easier to trade if you have a currency on FOREX.  Quite frankly, I believe it would be extremely hard for Iraq to conduct major trading of goods and services with the rest of the world through the currency process of the auctions and being pegged solely to the US dollar. The risks would be too high and they know it.  This is part of the White Paper reforms to go to FOREX.

Nader – Dinar Guru   The only people who can make a decision is the Minister of Finance and the CBI.  No body  else.  No Al-Kazemi.  No Maliki.  No Sadr.  No parliament.  No President of the Republic.  No matter how much power these people got...It’s not gonna be the IMF.  It’s not gonna be the World Bank.  It’s not gonna be all that.  It’s gonna be the CBI.  You have to watch the CBI…It’s gonna happen when the CBI is ready…

Tivon – Dinar Guru  ...Iraqis will experience Purchasing Power. The International Monetary Fund, the World Bank, the World Food Program of the United Nations and the World Trade Organization all held meetings on the EFSL. They all agreed that this law will open Iraq up to open trade which is the international markets. The EFSL stabilized the markets. They also said that the EFSL will vitalize the economy.

Pimpy – Dinar Guru  …There are others out there who are making the claims that one of the things that will bring peace to the nation is an increase in the Iraqi dinar rate.  That’s not going to bring peace between all the internal fighting because it’s not about the money.  It’s about the power.  It’s about the control.  Making the claim that they’re going to change Iraqi dinar in order to keep things peaceful there and to move everything along is bull crap.  The last thing you want is Maliki in there as prime minister.  No amount of rate change for the Iraqi people is going to smooth that over…

Kaperoni – Dinar Guru  The advisor to the prime minister clarified today that the government’s intention to restore the exchange rate is contrary to the truth, rather the government is engaged in fundamental reforms in both financial and economic that would create the desired development…only with the success and growth of Iraq’s economy can the dinar go up in value.

Militiaman – Dinar Guru  Article: “Al-Kazemi’s advisor clarifies a news published by the official media about the exchange rate change”  Article: “The government is discussing the dollar exchange rate and plans to convert 4 ministries to self-financing”  These two articles are saying what we already know about the exchange rate…now it is setting the stage for the private sector. The private sector is massive.. Total is a French private company that had contracts that were torn up and rewrote in Dinar and not USD. They reduced the Dinar to 1460 years ago already and now it is time to go back to where it was in a previous era. 1190 IQD/1 USD is not a place in that equation. It doesn’t work in a market economy.

Samson – Dinar Guru  Article: “Shocking number… How much is the percentage of ‘idle money’ in Iraq?”   Quote:  “70% of the money in Iraq is hoarded in homes, that is, idle, and far from the banks that, if invested, would move economic activities, explaining, that “leaving this money away from the banks is a strategic mistake that needs solutions.“

Tivon – Dinar Guru  Article “Parliamentary Finance excludes the existence of a budget for 2022 and explains the reason” …They do not need the general budget for this year. The EFSL will take care of everything that matters for the citizens and the economy. And whatever funds are leftover from the EFSL can go into the 2023 Budget. So now you can see they have no choice but to pick PM Al-Kazemi for the remainder of the year into the next. Passing a budget would not make an iota of sense. Now they are forced to play a different game.

Pimpy – Dinar Guru  So the big question is once the Forex starts trading Iraqi Dinar would $1.71 be approximately the actual rate of the dinar?  ...Let’s just say for the sake of it that this is going to be close to what the actual rate of the dinar is going to be…to get this particular exchange rate they’re going to have to decrease the amount of Iraqi dinars in circulation.  That’s why we hear so much talk about the deletion of the zeros…

Samson – Dinar Guru   Article:  “Al-Kazemi and his government enter a closed meeting with Biden in Jeddah“

Militiaman – Dinar Guru  Article:  “Alia Nassif comments on the revenues achieved by customs in Iraq”  That 95% oil revenues is going to be batched [matched?] by the borders, liquid natural gas, mining, tourism, etc.. The size of the money flow is going to be staggering. Everyone knows it…

Tivon – Dinar Guru  I am showing you why we basically have not seen the exchange rate. They need the Oil & Gas Law in place on a constitutional basis in order to maximize profits for the new exchange rate to mean anything for the overall GDP internationally. This is why the 1:1 out of the gate makes sense. Because of the oil price.

Clare – Dinar Guru  Article:  “Framework: Choosing the Prime Minister during the next few days, and we call for a parliamentary session next week urgent“

Tivon – Dinar Guru  Here is another thing that supports my opinion as far as the CBI waiting to pull the trigger once Al-Kazemi gives the green light. Why do you think he wanted to wait to address the USD rate reduction in the next legislative session? Because the Oil & Gas Law is in the same session.

Pimpy – Dinar Guru  If you go to…the foreign exchange website and try to look up the IQD which is the Iraqi dinar you can see it says “At this Forex.com does not offer trading in the Iraqi dinar.”  That means it’s still under some types of restrictions.  It’s not being bought, sold or traded on the Forex…

Militiaman – Dinar Guru  Article: “Deputy For Al-Fateh: The Exchange Rate Reduction Will Soon See The Light”  …100 deputies openly supporting the exchange rate change is powerful. They are campaigning. A sign of currying favor from the citizens. They want their purchase power.

Kaperoni – Dinar Guru  Local media announces today Al-Maliki will carry out a coup and become prime minister again…He is bad news for Iraq and is a pawn of Iran…Plainly put this is terrible for Iraq.   Maliki is a wannabe dictator and has desires to control the central bank funds.  Back in 2012, former central bank governor Al-Shabibi accused Maliki of stealing enough money to support 20 million citizens…al-Maliki has quietly as leader of the State of Law Coalition harpooned much of Iraq’s success waiting for his opportunity to come back.

Samson – Dinar Guru  Article:   “The Central Bank announces that the Iraqi gold reserves have risen to more than 130 tons”  Quote:  “Iraq has advanced ten ranks in the table of the most countries in gold reserves, bringing its total possessions to (130.39) tons, ranked thirty in the world and fourth in the Arab world.”

Mountain Goat – Dinar Guru   Article:  “DEPUTY FOR AL-FATEH: THE EXCHANGE RATE REDUCTION WILL SOON SEE THE LIGHT”  Quote:  “..the issue of reducing the dollar exchange rate is soon after collecting the signatures of 100 deputies to vote on reducing it under the dome of the House of Representatives.”  Just remember they tried this before and it did not work, however it does put pressure on the CBI and to let them know something must be done about the IQD rate soon.

Tivon – Dinar Guru  Article:  “Iraq uses the policy of “raising reserves” to control inflation”   So here we are once again being reminded that Iraq has enough of reserves to cover the reinstatement of the Dinar…So when you compile everything as to all the sectors that is ready…You can’t help but anticipate what is next. And we know what that is. Al-Kazemi already gave the go ahead a couple of days ago. IMO

Kaperoni – Dinar Guru  Monetary policy of the Iraqi dinar is at the sole discretion of the Central Bank of Iraq along with the guidance of the IMF. No parliamentary signatures, news articles or political figures have input.

MilitiaMan – Dinar Guru   Article: “Al-Shammari: Talking about changing the exchange rate is a media bid” Quote “Talking about changing the exchange rate is unrealistic…”  This guy is connected to Maliki all day long. imo…The EFSL is law. They have not yet exposed that fact in the Gazette… So, to trigger internationalism a new exchange rate is warranted. Changing the exchange rate is not unrealistic. In fact, it is inevitable…IMO

Nader – Dinar Guru  They refuse to put back the dinar to 1200…They’re asking the CBI to put back the dinar to its previous exchange rate which the CBI has other plans by Rving the dinar…I’m glad they didn’t accept the 1200 because it’s not worth it for nobody…for me it’s good news. I prefer wait on RV than change it 1200 and wait 10 more years to RV…

Samson – Dinar Guru  Article:  “Parliamentary Finance denies the possibility of restoring the dollar exchange rate: it confuses the market and investment projects”  Quote:  “the Parliamentary Finance Committee denied what was recently reported about Parliament’s efforts to restore the exchange rate of the dollar to its previous level, 1200 Iraqi dinars for every US dollar.”