Speaker Halbousi on Revaluing The Dinar

Samson – Dinar Guru  Article: “Oil nears $130 on fears of a ban on the Russian product”  Quote “Analysts at Bank of America said that if most of Russia’s oil exports were cut, there could be a 5 million barrel or larger deficit, which means oil prices could double from $100 to $200 a barrel, while JPMorgan analysts said this week that oil may double. to $185 a barrel this year“

Godlover – Dinar Guru   Article:  “Deputy: The government will be formed after Eid Al-Fitr” …per articles their intentions are to elect the POR & the PM in one session. Then PM’s cabinet needs formed, which according to several articles will happen after the holiday…My hopes are that once the POR & PM are elected, the budget can be sent to parliament for reading & vote during the cabinet formation process. I suspect the budget will not open until the PM’s cabinet is formed, bringing us closer to mid year possibly for the budget opening. God willing, the budget opens with what we all seek.

Pimpy – Dinar Guru  Article: “For the first time in the history of he currency auction, the central bank sells less than 1 million in cash”  …It doesn’t look like the banks are parting with the American dollars…

Desert Advisor – Dinar Guru  Article:  “Brent crude price exceeds $119 per barrel”  Well this just happened.  You think their [Iraq’s] economy’s growing and strengthening?  I do.

Sandy Ingram – Dinar Guru  Article:  “Iraqi Parliament to met for reopening door for new presidential candidates”   Once the new president is elected by the parliament then they will select a prime minister.

Pimpy – Dinar Guru  I never denied the fact that an increase in purchasing power would benefit Iraq and especially the Iraqi people.  Also I never said it’s for sure not going to be reinstated at $3.22.   What I said was it’s not likely.  But that’s just my opinion…I don’t flip-flop not at all.  I told everybody IMO the Iraqi dinar is going to increase in value but it’s going to happen in increments but also if I’m reading the news articles it sure the heck appears the way the language is being used it definitely appears like they’re considering it [An RV or an RI].  That doesn’t change my mind about the fact that I think that it’s going to be done in increments.

Desert Advisor – Dinar Guru  They have been talking nonstop about the exchange rate…A lot of the news articles that have been coming out are consistently just talking about the exchange rate.  Just talking, talking, talking about the exchange rate…good/bad.  Article “Al-Kazem’s advisor: The state’s loss will be great by adjusting the exchange rate”  When I read it he’s not that much in favor of raising the exchange rate the dinar.  He’s talking about how the state is going to be at a bigger loss if we start to do that.  That’s one side of the coin. [Post 1 of 2]

Desert Advisor – Dinar Guru  Article “International Monetary warns Iraq and announces its position on the dollar exchange rate”  The IMF is telling them you guys should look into raising your exchange rate…  Youtube video “Speaker Halbousi Speech on Revaluing Iraq Dinar Exchange Rate”  This guy did a great job…he gave a speech on revaluing the Iraqi dinar exchange rate.  [NOTE: See video below]  He talks on why it was good – Why it was bad…and how certain private banks…and finance companies…will profit once the exchange rate is taken…Great speech about 23 minutes.  You definitely want to check it out…it’s really informative. [Post 2 of 2]

MilitiaMan – Dinar Guru   the CBI, they have the exchange rate in their court. Not the GOI / Finance Minister, his tasks are important, just different from the CBI…They are independent from each other.  As for the political side of things, they will eventually come around. They may even come around at the same time. I know there is a view that they need to be first, but, the way I read it and from the expert on the CBI has it that the exchange rate is in their court…They devalued before and they can revalue in the future…

Pimpy – Dinar Guru  Article “Fitch Affirms Iraq at ‘B-‘; Outlook Stable”  Since 2015 they keep slowly but surely devaluing the currency.  I bring this up for a reason.  Understand Iraq today in 2022 is nothing like Iraq even from 2020.  It has come a long ways. There is plenty of reason to feel so optimistic about the dinar investment.

RVAlready – Dinar Guru  I don’t think the CBI will agree to change the rate until the government is seated. Hopefully, they will install the president by next Friday.

Kaperoni – Dinar Guru  Community perception  – “the exchange rate of the Iraqi dinar is currently a fake and suppressed value.” is a misrepresentation of the IMF directives...Again not true and just nonsense. The exchange rate is the exchange rate of the Iraqi dinar it is not fake or a suppressed value. Over the years the IMF has created programs hence the term ‘program’ to stabilize the currency, cut costs, meet directives etc.  By no means is the exchange rate of the dinar artificial…

Pimpy – Dinar Guru  The articles that you read it gives the appearance that they plan on reinstating the rate.  I try to avoid going in that area because I don’t want anybody to have false hopes but I am saying this appears…that they intend to reinstate the rate at $3.22.  I’m surprised by what I’m reading.  I go, ‘wow, maybe they are.’  Why are they going through so much trouble? …Because if you’re going to make the adjustment and it’s a small one it doesn’t seem to me like they need to go through so much hoopla IMO…

Militiaman – Dinar Guru   They have told us they want to cease the currency auctions.   Well, Sunday’s auction was a mere $960,000.00. That is a very telling sign in and of itself…By that we can garner…behind the scenes…progress is getting done…The goal is to help the citizens. Purchase power brings hope and healing to the citizens, and that requires an exchange rate change. The support for that rate change…will be derived from the increase in oil pricing to the tune of $120+- a barrel and including the revenues form the automation of the borders equaling a similar amount to oil.  Let us see what happens next, my feeling is it is all good!!

Kaperoni – Dinar Guru  Over the last 10-15 years the IMF in various Article IV Consultations with Iraq have laid it out very clearly the objectives for Iraq, the monetary policy and the stability of the financial system…An excellent article came out over the weekend in which an Iraqi economist talked about how floating the Iraqi dinar would allow the currency to appreciate as well as end the daily currency auctions. I believe this is the directive, the IMF has described…

Pimpy – Dinar Guru  You can’t expect them to change the rate right now, the government hasn’t been formed.  Remember the Central Bank of Iraq …can make the recommendations.  Parliament can vote on it and then the rate change is announced…there are a lot of good things happening right now over there for Iraq …

Clare – Dinar Guru   Article:  “The International Monetary Fund warned Iraq of the “fragility” of its economic recovery.” …IMO… WHY IS THE IMF TALKING TO THEM ABOUT THE EXCHANGE RATE???? WHY NOW????… Quote:  “in addition to the support of the International Monetary Fund, to change the price at a reasonable rate.”  WHY DISCUSS THE EXCHANGE RATE IF NO NEW RATE IS FORTHCOMING? 

Godlover – Dinar Guru   Article:   “The Minister of Finance resolves the controversy over changing the dollar exchange rate”   One of many reasons I do not think the NSCN’s [Lower denomination notes] training happened yet. They would not train on something that hadn’t even been printed yet imo. Furthermore, with all the trouble of them forming the next government, is yet another reason. These articles have proven way more accurate than not over the years.

Pimpy – Dinar Guru   There is still more talk about the exchange rate.  I thought they had this thing settled but apparently not…  Article:  “Al-Kazemi’s advisor: The state’s loss will be great by adjusting the exchange rate”  Here’s the issue.  The poor people were affected when their currency was devalued.  That means it cost them more dinars to get the same items they need just to survive.  Now you have inflation happening…as inflation increases that’s called the hidden tax…purchasing power continues to be reduced, again affects the poor people.  The only way you can tackle inflation is you have to raise the interest rates and if you raise the interest rates it will affect the poor people…So how do you fix that?  The only thing they got left is to increase their purchasing power…JMO

Mountain Goat – Dinar Guru   Article:  “AL-ABADI AND ALLAWI CALL FOR THE ADOPTION OF A REFORM STRATEGY TO CROSS THE NEXT STAGE”  What do you think the “next stage” needs to kick it off?   ...It needs the dinar to be reinstated...

Pimpy – Dinar Guru  ‘In-country’ rate vs. ‘Out-country’ rate.  That’s a lie.  There’s only one rate period.  If the rate is a $1.50 it’s going to be $1.50 in Iraq as the same outside of Iraq.  If the rate is $3.22 in Iraq it’s going to be the same for outside Iraq…there is no such thing as in-country rate an out of country rate…once an exchange rate is implemented that’s exchange rate is the same all over.  Just convert it into whatever country’s currency…

Mountain Goat – Dinar Guru   …All the news this period is good…We should all realize by now that the RV is coming and it is not long off before we see it. Okay so it did not happen in January as we thought but there is still opportunity since the 2022 budget is not yet passed never mind even opened…The reinstatement has to happen and MUST happen for Iraq to get to the “glory days” of the dinar. These are the days of USD 4+ rate. They are NOT ever going to float the dinar on a “program rate”…Yes, the CBI can change the rate at will as necessary…The IQD is NOT yet on FOREX and NOT yet on a float…We need the OFAC sanctions lifted and the banks and investment companies to trade the dinar on FOREX. Then we go to the bank… 

Dinar Investor – Jeff   Article:  “The Iraqi parliament is considering re-pricing the dinar against the dollar”   Iraq’s government put out a ton of news talking about adjusting the exchange rate.  That could only means one of two things – either they want to simply put it back to 1190…or put it back to international levels back above zeros…all these articles that the government has put out over the last few weeks they’re not talking about restoring the exchange rate to international levels…they’re talking about putting it back to its pre-devalued rate of 1190… [Post 1 of 2]

Dinar Investor – Jeff  Article:  “The Central Bank: The dollar exchange rate is stable and there are no intentions to change it”  the central bank has no intentions at this time of adjusting the exchange rate according to what they’re telling us…what the news is telling you, none of this news is truthful… [Post 2 of 2]

Sandy – Dinar Guru  oil has gone up to over $100 a barrel since Russia attached the Ukraine.  For Iraq this is good news…

Samson – Dinar Guru   Article:  “During The Hosting Session.. The State Of Law Demands The Return Of The Dollar Price To Its Previous Era“  Quote:  “It has become imperative for the government and the Ministry of Finance to return the exchange rate to its normal position, especially since the financial crisis has ended and the financial situation has improved, especially after the rise in oil selling prices.”

Pimpy – Dinar Guru  Article Quote:  “…parliament will hold a session tomorrow Monday to discuss the dollar exchange rate and the presence of the finance minister…”  They’re going to be discussing the exchange rate.  We’ll see what comes out of it…Y’all should be a little excited about it but don’t get overwhelmed and stay grounded…

Mountain Goat – Dinar Guru  The budget is just a budget. It is money allocated to projects. The funding can be converted at any time. What they do need is the price of oil to know the amount of revenues to expect so they can then decide on what they can afford in the budget to spend. Get it? Then, they base the budget on the price of oil to know the projected revenues. This is not the RV rate, get it?

Pimpy – Dinar Guru   We know there’s a lot of chatter going on.  We’re monitoring it.  We’re paying attention.  I still think it’s just going to go up in increments.  There’s a lot of meetings going on.  Parliament is meeting.  We’re still waiting to form the new government.  It’s kind of hard to get anything taken care of when there’s so many delays in there without a new government…But there definitely is a lot of talk about a rate change…there’s definitely something that’s going to happen in 2022.  Will it be an RI or an RV? It’s very possible…IMO it’s gonna happen in increments…let’s keep an eye on it and see what happens.