Dinar Observer Daily

Mountain Goat – Dinar Guru   …There is now NO sign from the CBI they are doing any actions for a near future RV for the rest of this year. Sorry!   For some time it was looking as though we might have a pretty good chance but that chance was killed this week. Now that the finance committee in conjunction with the CBI has re-issued bonds to cover the 3months beyond July – Sept for the salaries. So the pressure is off and we may have to wait a bit longer to see the reinstatement. Maybe January 2021 is coming back into view? Just saying….

Adam Montana – Dinar Guru The new PM Kazzamie is operating efficiently and effectively.  We are going to hear some distractions and criticisms, but he is doing a great job in my opinion.

MilitiaMan – Dinar Guru  …They have to raise the exchange rate of the dinar, not the dollar and this is where we are at…they’ve been telling us and telling us and telling us and we’re just waiting and waiting and waiting but the fact remains is now they’re at the precipice.  They don’t have money to pay the salaries.  They said they were going to do it.  …the pressure is so hard on them to get this done it’s probably unbelievable…that’s why I’ve been focused to some degree on these next couple of days to see what they do.   Typically they’re gonna have to have an excuse when they don’t pay these people…they need to raise the value of the exchange rate.

Dinar Investor – Jeff  Article: “The Central Bank Announces Financial Assistance with 3-month salary insurance and talks about the date for the June wage payment”  …this level of news right now is walking you into September …the rate change is married to a budget so if you follow the movement of the money you can piece this together…we need to see when that budget goes into effect because the budget and the rate change are married together… they’re showing you they’re tentatively walking you into September.  I’m not giving you a date I’m just giving you an approximate generic information that they’re bringing fourth – trying to help you decode this and put the puzzle pieces together…

Kaperoni – Dinar Guru  A lot of what has been occurring in the last few weeks has been addressed several times in the past by the World Bank and the IMF. So this is all good news that they are finally taking the steps necessary.

Pimpy – Dinar Guru  …I have a feeling this is going to be a really big month for us.  There’s a lot of things that are popping up that seem to be pointing to this month being a big month.  What that means exactly?  I’m not sure.  There’s a lot of speculation…Al-Kazemi is supposed to come here to meet with Pompeo and the president.  I told you one of the biggest announcements that we’re hoping to hear, and they do it out in the rose garden, is that Trump is encouraging the international community to restore the sovereignty  of Iraq for them to be recognized and embraced buy the International community.  And he announce the lifting of the restrictions on the currency and that allows it to start trading on the Forex.  That’s what we’re watching for.  That’s what we’re hoping for.

Delta – Dinar Guru   …the exchange rate is one of the pillars or economic reform.  You can not bring investors in, you cannot have liquidity, you can’t have any trust in your country if you don’t raise the value first.  And all of us know that…everybody knows that the exchange rate is going to change no matter what and the Prime Minister did agree to that…

Breitling – Dinar Guru   …they’re worried about regionally having a currency that’s valued too high.  The pressure cooker they’re in is that they need to add value to their currency otherwise they’re going to go broke.  If they add too much value to their currency they are going to go broke.    That’s just the reality.  But what people don’t understand is that other countries are in the same position…Iraq basically told everybody they want to get the value of their currency to $3.25.  [Wait a minute, you just said if their currency is too high in that region they are going to get their asses handed to them.]  That’s true.  But if their currency was a global currency, then it wouldn’t matter would it…   [Post 1 of 2]

Breitling – Dinar Guru  …Take for example the United States and Mexico.  How much is their peso worth.  Look at Canada…If Iraq is international they could have a huge high price.  But if they’re going to be local for right now, regional, then they can’t go that high…Let’s say their markets are going to be regional and they do add value to their currency it helps them get to international markets.  Well if they’re in international markets and it becomes more and more dependent on international markets you’re going to see the value of the currency keep going up…If it’s regional…they’re never going to get past a buck… [Post 2 of 2]

Dinar Update – Reports are coming in from Dinar buyers that some large currency brokers are out of dinar stock.  I made a pass through several dealer sites – some are showing they have dinar for sale, some are showing they’re out.  Buyer Beware – It appears some dealers are completing sales without actually having the currency on hand (betting on their ability to buy some currency in the future, with your money).  Wait times for orders have been as long as four weeks.  Some of the delays are Corona related.  If you want your dinar right away be sure to confirm ship times with the dealer.

BGG ~ This current scenario, IMHO, has purely to do with basic supply and demand principles. There has never been any reliable “pipeline supply” of Dinar from the Middle East to the U.S. This was always a silly thought. The Buy / Sell market here in the U.S. has always had some level of parity between buyers and sellers. Currently there is no such parity.

MilitiaMan – Dinar Guru   Article:  “Foreign Minister: The Kuwaiti Foreign Minister will visit Baghdad tomorrow”   It sure looks like they are signalling inclusiveness and with an urgency!  The Kurdistan high ranking Delegation is coming  to town and may be arriving in conjunction with the Kuwait Foreign Minister. Lets think about that a moment.  Pompeo is the USAs counter part to the Kuwait’s Foreign Minister, if I am not mistaken. The USA having had SFA meetings that were well received by all, may not be over just yet. There may be another one or so in the coming days too. I sense signings may be at hand to some very important items! [post 1 of 2]

MilitiaMan – Dinar Guru  The IMF has had recent meetings with the” Crisis” Emergency Cell on currency reforms and the modalities or treatment if you will, to cure the current crisis.  There will be follow up meetings too. Kinda like a doctor to a patient. Take this alternative we have before us (raise the rate, secondary markets, SDR, Bonds, border fees, taxes and tariffs, reduction in refinery costs, etc.) and let it all take a few days/weeks to start working in conjunction and we will set another appointment for to review your progress, as in WORLD BANK management agreement… lol…imo.   [post 2 of 2]

Kaperoni – Dinar Guru  If you want to see the Iraqi dinar go up in value which I assume you do…the only way it’s going to go up in value is when Iraq’s private sector economy grows. Only then will Iraq get off the peg and float the dinar allowing it to appreciate.

Pimpy – Dinar Guru   Here’s a funny thing you guys might not know.  There was an article written by Paul Ryan [Former Speaker of The House].  It was an opt-ed in which he thought it was important that the Iraqi people should probably change the rate to help their economy.  Gee do you think Paul Ryan has Iraqi dinar?

RVAlready – Dinar Guru   With Iraq in miserable economic shape, I think the RV will be sooner than later. I would think that October would be pretty disastrous for them.

Mike Cottrell – Dinar Guru  I believe Trump will not let the RV go until after the election….I do not see any other way this could happen.

Pimpy – Dinar Guru  …we are already done with round 1 [U.S. – Iraq – U.N meeting].  Round 2 happens in July [In Washington].  I know a lot of you out there going, ‘What does that mean?  They kicking the can down the road?”  We don’t know yet.  All that matters in which you should be focusing on – we’re probably closer now that ever before…there is a lot going on in a very short period of time.

Mountain Goat – Dinar Guru   Today’s dinar news is all about the ongoing saga of how will Iraq find the necessary funding to pay the June salaries. The pressure is enormous as simply put; they do not have the oil revenues sufficient to pay these salaries (about 4-5 billion US dollars) for June. We know the IMF will not lend them the money and the CBI will not use the reserves. So, over these last weeks we have seen many proposals presented to us. The CBI did end the currency auctions at the end of May and this we know as a FACT. They told us they also are going to aggressively implement the customs and tariffs law and go electronic collection system to do so. But we know this system requires Iraq to be on FOREX since the system uses FOREX in the calculation of the most current rate of foreign currency in order to find the rate and convert it. So how will they do this without being on FOREX? I don’t know you tell me…

MilitiaMan – Dinar Guru   Article:  “Loaded with different materials … Transport announces the reception of 11 ships within three days”  They didn’t just send 11 ships from around the world with the knowledge that Taxes and Tariffs are adjusting by 07/01/2020 with out some sort of disclosure, assurances, insurance, exchange rate, etc.. The leaks (news) in the Hull of Iraq are showing there is change coming.. The new foundation is about to be set in stone for the people to see.. The NEW IRAQ is about to be Born… NSCNs will be that foundation… imo.

Pimpy – Dinar Guru   they should have all their ducks in a row this month.  The anticipation is that the rate will happen so that it can help them with the second half of this year.  This is the rumors floating around inside the dinar community and to be quite honest that makes perfectly good sense…we know that in many cases when we’re dealing with Iraq what makes sense to us does not necessarily make sense – period… or that they do anything that makes sense.

Dinar News Flash  The news is flooding in…Iraq’s new prime minister has done what no other prime minister in the last 10 years has been able to do.  Iraq’s parliament voted and seated the last 7 ministers of PM Al-Kazemi’s government.  If this is fact and it appears to be, this is a monumental accomplishment and fits with everything else Iraq’s leader has done in the last month…

MilitiaMan – Dinar Guru  Article:  “Member of Parliamentary Finance: The country’s financial situation is very critical and we are working to get out of the crisis”    Another reiteration of what is going on. But, Al-Nassery just told us what he is doing and that is going into the social market economy. That includes the Secondary Markets…They are not going into the market economies of the world at a program rate. The theme is not wait and stagnate it is ACTIVATE!!  They say in the current week to come…

Dinar Investor – Jeff   Article  “Parliament passes vacant bag candidates and succeeds in completing the Al-Kazemi government”  They have completed the full formation of the government.  But remember I told you there were two things needed which are the linchpin.  Two not one.  They have to finish their agreement with Kurdistan and they had to finish the last 7 ministers.  The last 7 ministers is done.  Out of 2 you have 1 remaining.  Article “Next week a delegation will visit Baghdad to resolve the agreement on the oil file“. This is Kurdistan…you’re gonna have everything pretty much done within a week.  They should have this done probably by the 10th…they’re on track to finish the two remaining items.  They already got the government done.  They could most likely have the second last remaining variable…done next week…that will allow them to probably change the rate during the second half of June…It looks like Iraq will go international as well during that second half of June.

Mountain Goat – Dinar Guru   Article:  “INCLUDING STOPPING THE CURRENCY AUCTION AND CHANGING THE DINAR PRICE .. 5 DEPUTIES PRESENT PROPOSALS TO BRIDGE THE BUDGET DEFICIT”   …this is one of those WOW articles.  …these are members of the House of Representatives so the next area to take up these recommendations would be the Finance Committee and then the CBI. But I have to tell you this is already in motion and the CBI is already working on these measures. But it was very nice to see parliamentary members making their ideas heard and for once coming up with sensible recommendations that will work.

Dinar Investor – Jeff  …we’ve got a lot going on.  The news is red-hot…we’re probably around the second half of June…This thing is coming upon us.  We’re at the very end of it.

MilitiaMan – Dinar Guru   Article quote:  “The President of the Republic emphasizes adopting a balanced monetary policy and working to strengthen the financial situation”   There is no stopping this now from the looks of it. All has been coming together and shows that all the years of work, now are aligned and ready to go international… They have published time lines for contractual issues, that will have to be adhered to. I am smiling!!

Kaperoni – Dinar Guru  A couple of great news articles this week… 1 an opinion piece on changing the dinar exchange rate.  The other seems to be recommendations from the parliamentary finance committee today including floating the dinar.

Mountain Goat – Dinar Guru   …they are now actually openly debating all the options as to what to do to save the economy of Iraq. Part of these discussions does include ending the currency auctions and the possibility of a “float” but, as we can see, they mean a float against other global currencies. You can’t float the dinar against just the US dollar as it is now solely pegged just to the US dollar. This is now a “fixed” rate. So the discussions evolved around a drastic change. By the way the CBI has already announced it WILL NOT devalue the dinar as a solution…

MilitiaMan – Dinar Guru   Article:   “After Coming Under Heavy Criticism…The Central Bank Stops The Currency Auction”  Now add in the meeting with Alak and the President on financial ongoing’s. Then think about the upcoming meetings to vote on Cabinet, then add in the ISX is  scheduled to open again on Sunday, then there is the SFA for the 10th – 11th. All the talk about the borders, taxes & tarrifs, fees all being electronic, the contracts adjusting for shipping costs by 07/01/2020 need to be in place by then. Those things need an international rate and pronto!! The convergence is astonishing! imo …

Adam Montana – Dinar Guru  These topics will get you up to speed on “the rest of the story” quickly:

1.  Kazemi-Kazammi is not a Kurd, he’s not “one of them”, but the Kurds are supporting him. This has monumental potential:
2.  Iran has lost their power. The “Iran factor” that has held Iraq back in the past is just that… the past.
3.  Kazzami has reportedly made his picks, and Parliament should rubber stamp them next week. This is progress…They may not vote every one of them in, but 80% will be enough to move forward.
4. …Parliament is working…
Life is good, things in the desert look positive…