Dinar Observer Daily

Pimpy – Dinar Guru  A clear statement from the Central Bank of Iraq tonight stating it is their responsibility to stimulate the economy according to tools of monetary policy. This cannot be achieved without joint coordination and activating the real economy and diversifying sources of income.  In other words, the dinars value is directly related to the success and growth of Iraq’s economy. Until that happens the dinar will remain weak.  Here’s what it is I’m anticipation that’s going to happen.  Once the United Nations absolutely positively removes these [UNSC Chapter 7] resolutions and there’s no longer any restrictions on Iraq and…their currency and we see that the Iraqi dinar can now be bought and sold in our county freely with no issues then I’m going to anticipate Iraq to start doing the redenomination and the deletion of the zeros.   [Post 1 of 2]

Pimpy – Dinar Guru  As I’ve explained before there’s too much Iraqi dinar that’s in the hands of the corrupt.  The best way and the quickest way to end that and to assure people don’t get rich off of stealing the Iraqi dinar is going to be to redenominate it.  If they’re going to go ahead and redenominate it and make new bills, they might as well go ahead and do the deletion of the zeros. [Post 2 of 2]

Kaperoni – Dinar Guru  A clear statement from the Central Bank of Iraq tonight stating it is their responsibility to stimulate the economy according to tools of monetary policy. This cannot be achieved without joint coordination and activating the real economy and diversifying sources of income.  In other words, the dinars value is directly related to the success and growth of Iraq’s economy.

Sandy Ingram – Dinar Guru  Article:  “Iraq recovers $7.9 billion in surplus war reparation from Kuwait“  This fund was set up to compensate Kuwait for Iraq’s invasions of the country in 1990.  The amount was returned to Iraq after an audit by the Security Council…

Pimpy – Dinar Guru  Great news over the last couple of days…I think these are major steps that were needed in order for Iraq to once again be accepted by the international community and their currency be recognized.  I keep stating, even if they did make a change to the Iraqi dinar exchange rate what good is it going to do if we are dealing with restricted currencies.  Did what Iraq just recently do take care of that issue?  We’re gonna find out…

Pimpy – Dinar Guru  The draft budget has been sent forward.  So far there doesn’t seem to be any changes that need to take place.  There is an actual decent chance this budget might be passed before the end of this year.

Militia Man – Dinar Guru  Article “The budget law may interrupt the legislative recess of the House of Representatives”  What is not to like about this and the timing of it. The PM has the final touches to the Draft Law.

Paulette – Dinar Guru  It is very possible that the CBI may “restructure” the currency before Parliament receives the budget for the “1st Reading “.  At least, that is what I am hopeful for…I…am glad that Parliament did not receive the budget prior to adjourning for their required 30 day break.  IMSO, this bodes well for seeing the “restructure” occur before Parliament returns.  This is the step I have waited for as it will determine much about the potential windfall of this “speculative investment”

Pimpy – Dinar Guru   With all this speculation going on with the exchange rate you really have to question what is really going on.  Are these individuals who are privy to the truth about the exchange rate and that some change might be taking place, therefore they’re starting all kinds of speculator rumors which drives up the value of the dollar against the Iraqi dinar allowing people to buy more dinar for the dollars because they anticipate a change in the rate that would benefit the dinar…?

Clare – Dinar Guru  Article:  “The International Monetary Fund: the reserves of the Central Bank of Iraq will rise to 100 billion dollars“

Pimpy – Dinar Guru  Article:  “Iraq is looking forward to a development leap after turning the page on Kuwait’s compensation”  Iraq is done with Kuwait…this opens up a ton of doors for Iraq…it’s a…huge positive step towards any real major changes to the revaluation of the Iraqi dinar…  Quote:  “we are expecting a resolution from the United Nations Security Council at the beginning or this year to remove Iraq from the problems of Chapter 7…and to get rid of more than 40 resolutions imposed on it because of the Kuwait War…getting rid of article 7 opens up great opportunities for Iraq to integrate into the global community.”  [Post 1 of 2]

Pimpy – Dinar Guru  …The UN Council removed them out of Chapter 7 but they still left on all the damn restrictions.  What good was it?  They still needed some of these resolutions to be removed…They have now paid the last remaining balance of the debt owed.  Let’s see if the United Nations moves quick enough… Quote:  “the composition file was finally closed after Security Council resolution 2621 of 2022.”  They are done people.  We’re just waiting to see what it is the United Nations does.  [Post 2 of 2]

Mountain Goat – Dinar Guru   The IQD from Iraq…MUST be reinstated in order for Iraq to progress forward with any success to the global markets if this is what they truly desire and they tell us this is where they want to go. But they will have to overcome the puppetry of Iran first. This RV journey will end and I can…see the road ahead. I can see the end point now and it is not long off. The pressure is building and now even many more economists are now pushing for the FOREX reinstatement...

Clare – Dinar Guru  Article:  “Al-Mandalawi: Quick and decisive measures to stop the rise in the dollar exchange rate”  Quote: “To protect citizens and prevent this from being reflected in the Iraqi markets, the measures that will be taken by us and by the prime minister and the central bank will be quick and decisive in stopping the escalation in the dollar exchange rate.“

Pimpy – Dinar Guru  Article: “The Central Bank launches an electronic platform for buying and selling the dollar next month”  This is going to probably alleviate a lot of the corruption involved with the currency auctions.  There’s no guarantee…but it should…the more they become updated…the less likely we have of corruption.

Breitling – Dinar Guru   What’s Iraq looking at?  They’re looking at the markets – where can they get the most customers and that’s it.  They have two things in front of them.  Adding value to their currency and where can they get the most customers.  So they’re looking at the GP2 and IPEF.  They’re looking at 62% of the worlds population that is part of those trade groups and 40% of the world GDP.  They’re going to build a policy based on those numbers.  That’s it. 

Kaperoni – Dinar Guru   The dinar has no restrictions. The banking system remains under IMF Article XIV…Iraq still needs to meet some compliance issues and receive approval from the IMF in order to move to IMF Article VIII…

Pimpy – Dinar Guru   Article:  “Parliamentary legal hints at an “emergency” session to approve the 2023 budget”   If this thing can somehow get approved by Al-Sadini and then the House of Representative takes a look at it and [if] everybody’s pretty happy, you can see an emergency session be called in and people vote on it right away.  The sooner the better…

Clare – Dinar Guru  Article: “Planning: Al-Sudani issued directives to address the effects of changing the exchange rate of the dollar” Quote:  “the Ministry of Planning revealed the issuance of directives from Prime Minister Mohamed Shia Al-Sudani related to addressing the effects of changing the exchange rate of the dollar…the effects of changing the exchange rate are not all negative,” stressing that “there is no agreement, whether in the House of Representatives or in the Central Bank, to change the
exchange rate“

Pimpy – Dinar Guru  Article: “The talk of the exchange rate invades the Iraqi sessions…and the currency auction is the window for whitening the dollar”  We all know there’s lots of individuals who are politically connected and pick up on information they most likely shouldn’t have.  There’s been a lot of meetings with the governor of the Central Bank of Iraq.  There’s no doubt they’ve been talking about changing the Iraqi currency… [Post 1 of 2]

Pimpy – Dinar Guru  This article keeps touching bases on a group of speculators who continue to try…to drive the value of the dollar up while driving the value of the Iraqi dinar down…Why would they do that?  Is it possible these people know there’s going to be a change in the exchange rate…?  So by stirring up all kinds of rumors…you can get more Iraqi dinars for your dollar...Is it possible some very corrupt people are trying to buy the Iraq dinar for cheaper dollars knowing in advance that their rate might change?  [Post 2 of 2]

Clare – Dinar Guru  Article:  “The application of international trade exchange for the Middle East transforms Iraq into an “electronic financial exchange center”  Quote:   “The pioneering services will provide new horizons for the Iraqi market in ten foreign currencies, including the US dollar and the Iraqi dinar.”

Militia Man – Dinar Guru  Article:   “The Iraqi Trade Bank announces the recovery of one trillion and 500 billion dinars”  The amount of funds being recovered to Iraq from corruption is staggering in totality. The trillions of dinars being returned will support their exchange rate internationally.

Pimpy – Dinar Guru   Yes, I hear there’s still more chitter-chatter about the exchange rate and yes there’s a lot of misinformation still going on out there about the Iraqi dinar…the full exchange rate being reinstated – that’s not the case.  The talk…is about them going back to the old rate of 1199 per dollar.  The Hydrocarbon Law – has not been signed…It was agreed upon in 2007 but…the Iraqi Supreme Court struck it down…and they have been renegotiating…The statement that the whole world is pushing/forcing Iraq to change their exchange rate is inaccurate.  Countries don’t usually get involved with people’s exchange rate unless you’re trying to manipulate them and that’s not the case with Iraq.

Kaperoni – Dinar Guru  They’re talking about increasing the dollar sales through the auction which will raise the value of the dinar back to what it was a year ago. Around 1170 to $1.

Clare – Dinar Guru  Article:  “The talk of the exchange rate invades the Iraqi sessions..and the currency auction is the window for whitening the dollar” Quote:  “The talk of the exchange rate of the dollar has become the most prominent one being circulated by Iraqis who are disaffected by the continued escalation of prices.”

Pimpy – Dinar Guru  Article Quote:  “Parliamentary Finance announces the completion of the touches of the budget and its transfer to the Sudanese office.”  Now that they have it and all the final touches are done, they handed it out to the House of Representatives.  Even though they are on recess at the moment you could see a scenario in which if they have an opportunity to go ahead and pass this budget before the end of the year they will call an emergency session and vote on that sucker.  It’d be a great way to start the new year.

Nader – Dinar Guru  Article:  “Sunday, the Parliamentary Finance Committee announced the completion of the final touches of the budget and its transfer to the Prime Minister’s Office…”

RVAlready – Dinar Guru  …If, indeed, their currency has depeged, we will have to see what the market thinks of their gold reserves, foreign currency and bond reserves, and GDP.  It will take a bit for a new value to be established...Don’t be surprised if it does not jump right away.  Iraq estimated 10 days for the price to stabilize. I’m guessing it should settle by December 20th…I’m hoping for $1 or $1.50 by December 20. We will see what happens.

Samson – Dinar Guru   Article:  “Central Bank: The exchange rate of the dollar will be returned to normal within two weeks”  CBI taking actions