Dinar Observer Daily

Mountain Goat – Dinar Guru   It looks like there is finally a breakthrough in forming the new government …The announcement has not yet happened and is very close. I am told it will happen this week and Saleh and Kazemi will remain in place. This is fantastic news…Not only Sadr but Kazemi and Saleh both support the anti-corruption efforts. WOW! Folks this is our path to the reinstatement…

Petra – Dinar Guru  Press Release “U.S. Department of the Treasury: Under Secretary Brian Nelson’s Meeting with Iraqi Deputy Prime Minister and Minister of Finance, Ali Allawi”  I’m having a hard time with that Food Security Law. With the budget imminent, what’s the need for it? UNLESS…it’s a COVER for something else??? ...I think we can all agree that the “actions” we are seeing clearly delineate a game plan and a strategic execution of timing and global input for Iraq ‘s next move. With food prices skyrocketing they clearly only have one move to protect their citizenry. A global Force Play!

Pimpy – Dinar Guru  Video “Why Foreign Currency Reserves Are Important”    Quote “holding foreign currency reserves…influence the exchange rate.  With large foreign exchange reserves a country can target a certain exchange rate.  For example, suppose a country wanted to increase the value of its currency, it could sell its dollar reserves to buy its own currency on the foreign exchange markets.  The increased demand for this currency would appreciate its value.” …a few years back Iraq was taking I think $1.5 billion a month from their oil revenues and buying their own currency back off the market… [Post 1 of 2]

Pimpy – Dinar Guru  Article “Central Bank: cash reserves exceeded 70 billion dollars”  ...The Central bank has reserves exceed $70 Billion.  This is good.  Iraq continues to build up the reserves…the more Iraq continues to build up their reserves the easier it is for them to stabilize their own currency...with these reserves they can…increase the value of the exchange rate by buying more of their own currency off the market… Iraq ‘s foreign reserves are increasing.  It’s just another step in strengthening the Iraqi dinar and then eventually moving up in the exchange rate.  [Post 2 of 2]

Samson – Dinar Guru  Article:  “The Central Bank of Iraq achieves the highest percentage of hard currency reserves since 2014”  Article:  “The Central Bank: Our cash reserves exceeded $70 billion”

Militiaman – Dinar Guru   Press Release:  “U.S. Department of the Treasury: Under Secretary Brian Nelson’s Meeting with Iraqi Deputy Prime Minister and Minister of Finance, Ali Allawi”  The food law, as they are calling it is a necessity of the citizens. They have been talking about the GOI and the 2022 Budget, i.e., a new exchange rate too IMO.  Quote:  “They discussed challenges facing Iraq, including inflation and pressure on supplies of food and other commodities as spillovers from Russia’s invasion of Ukraine – food prices in Iraq have increased by double digits since the start of the war.”  A new exchange rate is imo all that is needed to curb inflation and bring purchase power…Lets see what the day(s) bring…I like this a lot. It is a very timely piece from the UST…

Pimpy – Dinar Guru   Everybody’s wanting to know about the Iraqi rate change.  I’m going to tell you right now, until the government is formed, the budget is passed, more money is invested into the private sector – that is not going to happen.  I know that’s not a popular thing to say but…we stay grounded.  I’m not here to blow smoke up your butt.  I’m here to just be realistic about this investment…

Clare – Dinar Guru   Question:   “Will the IQD be asset backed when there is a change in rate?”  YES, BECAUSE IT IS ASSET BACKED ALREADY BECAUSE THE AMOUNT OF WEALTH IRAQ HOLDS IS AMAZING!!! IMO  THE CBI RESERVES ARE VERY HIGH!  COUNTRIES HAVE INVESTED &  CURRENCY SWAPS HAVE TAKEN PLACE  … BECAUSE THEY KNOW WHAT IS GOING TO HAPPEN IN  IRAQ!

Frank26 – Dinar Guru    Article: “The Dollar Exchange Rate That Will Be Approved In The 2022 Budget ”   WHY DO YOU NEED TO APPROVE THE EXCHANGE RATE FOR THE 2022 BUDGET… WHEN YOU ALREADY HAVE AN EXCHANGE RATE… UNLESS YOU’RE GOING TO CHANGE IT.

Mountain Goat – Dinar Guru   …All the news is very good. …the CBI once again announced that the monetary reserves are very high. We know the IMF requires just 45 billion for financial stability and they just announced reserves of 70 billion. We know for a fact the reserves are actually around 90-100 billion as they sometimes include the gold reserves valuation in the total and sometimes they don’t.

Kaperoni – Dinar Guru    [Re: ‘Discovered new dinar research document”   If this event occurs, Iraq will make citizens exchange 1,000 current Iraqi dinars for one new Iraqi dinar. That one new Iraqi dinar would be worth approximately $0.50. In other words, about $500 per million of the current dinar.  The research paper published and proposed to the central bank for the currency change in Iraq discusses the specific conditions for the implementation. Those conditions are met therefore it recommends the beginning of 2023.  This plan is a neutral currency swap at 1000 current dinar to 1 new dinar.  Iraq is discussing a new currency, in essence a re-denomination.  Not a RV!

Pimpy – Dinar Guru  The faster they get away from depending so much on oil the faster they can create more jobs for the Iraqi people, the faster they can get more people off government assistance the better.  Then if they get to stabilize their government I don’t think it’ll be too long after that we’ll see something change in the dinar rate…

MilitiaMan – Dinar Guru  Article:  “Iraq.. Expose the reasons for the demands to withdraw the hand of the director of customs”    No wonder there is movement on the borders to get compliance, the ISO20022 [electronic data interchange between financial institutions] is in the making already. It has been long over due. This article supports that the time is now not next year…The world is not looking back nor are they waiting much longer for significant change. There no more procrastination and Iraq has shown they know it and have had to react. This is a very good sign… imo..

Samson – Dinar Guru   Article:   “The Central Bank announces an increase in cash reserves to 70 billion dollars”

Pimpy – Dinar Guru  …more rate change conversation.  They’re out there talking about their rate exchange again…This seems to be the talk of the town.  Article: “Finance responses to news of its discussion to reduce the dollar exchange rate”  Before we had a lot of discussion about the rate change.  That’s obviously died down a little but I think it was interesting that there was article after article talking about a rate change given the fact that oil prices we up in a big way...$150/barrel that’s supposed to be happening shortly.  If the projections are correct then Iraq is going to have a lot more money than they had anticipated…which is what you want…

Kaperoni – Dinar Guru  This is proposed and of course it directly is related to Iraq forming a new government prior…the Central Bank of Iraq would have to accept the proposal.  But considering this proposal is public, and symposiums are being held to educate the citizens, it appears to be what is being pushed forward to be implemented.   [Post 2 of 2]

Kaperoni – Dinar Guru  [Follow up to Guru Kaperoi’s ‘Discovered new dinar research document” Post 4-15-2022]  …what is being talked about and proposed in Iraq for the beginning of 2023 is a currency exchange (LOP).  At least two public events must happen before this currency exchange could occur.  Parliament must vote and approve of the new currency and implementation and they must officially notify the citizens.  The proposed implementation is at the beginning of 2023. [Post 1 of 2]

Clare – Dinar Guru  Article:  “Overtaking Qatar, Saudi Arabia and the UAE… Iraq is the first in terms of GDP growth and per capita”  THIS IS REALLY GREAT!  IMO AND THIS IS FOR 2022… ACCORDING TO THE ARTICLE.

Pimpy – Dinar Guru  Article: “Cities of Iraq witness demonstrations calling for the speedy formation of the government”  When people are going ‘Oh man we got all kinds of money coming in Iraq.  We’re going to do the rate change!’  No, No you’re not…you have to have a stable government, a stable economy and there has to be peace there not civil unrest.  Until all this stuff gets squashed and we move forward with a government that’s formed, a budget that’s passed and the people are not protesting, you’re not going to see a rate change…

Pimpy – Dinar Guru  Article:   “Oil surges on OPEC, gold jumps on inflation”  Here’s some really good news..oil is projected to go to around $150 per barrel.  Of course this helps benefit Iraq.  And no, the Iraqi dinar exchange rate is not going to change just because it’s getting more oil money…there are more things to factor in – A stable government, which they don’t even have one established.  Stable economy, which they haven’t even passed the budget.  Plus Iraq has to get away from the fact that 90% of the budget’s revenue comes from oil.  They are working very hard and great reports have been coming out that the private sector is being built…things are going in the right direction but it isn’t going to happen overnight but this is a major help…

Kaperoni – Dinar Guru  Community comment: “Feels like it was all a scam, and once again, I was a sucker.  Don’t think I will ever get rid of it, just in case, but, it sure has been a looooooong time, and nothing looks to have changed.”  The idea of overnight riches by buying dinar is a scam. Can the dinar appreciate in value? Yes, it is well documented that it can if Iraq builds an economy.

Sandy Ingram – Dinar Guru  Article:  “Economic center warns of the repercussions of delayed budget approval”  as you know Iraq was not for the 3rd time able to elect a new government.  There is a serious problem that is occurring.  The budgets need approval by law and this will cause serious economic issues if the budget is not approved soon…the existing prime minister is calling on parliament to come together to make the necessary votes so they can continue on with business…

Militiaman – Dinar Guru   We can see that there is a need for an exchange rate change and quickly. The street is being harmed and they are going into protest mode again…There is a parliament in place along with a legal caretaker government to do day to day business. That day to day business includes actions pertaining to budgets. The 2022 budget has been in the news to be sped up and presented in short order, imo…

Mountain Goat – Dinar Guru  …a financial advisor to the Prime Minister, Mustafa Al-Kazemi, described the financial situation in Iraq, which is derived from crude oil revenues, as “excellent.”  Quotes:  “Iraq is in an excellent financial position at the present time, as during the past month alone, oil revenues increased to 11 billion dollars, and this is a very large number that has not been recorded for five decades (50 years).” ; “this is a positive aspect, regardless of the profitability of the economy.” It is telling us that they do not really need to develop the economy to any great extent with oil being so high as they have been telling us all along. They can still reinstate the dinar with all these other revenues.  [post 1 of 2]

Mountain Goat – Dinar Guru  The IQD is being artificially suppressed and we can’t deny it any longer.  When will they finally reinstate it?   I am being told they need first a stable government, to limit the ability to steal money. So when this election controversy is decided they will move ahead with the project to delete the zeros, which we know, leads to the reinstatement soon after…Iraq is in a better position then ever… You heard this again and again how the leaders of Iraq want to move the country back to the “glory” days. They are right on track too to do this.  [post 2 of 2]

Pimpy – Dinar Guru   Article:  “Parliament will ask the government to send the 2022 budget”  As they should.  The current government that’s in control right now will continue to stay in control until the ones that were chosen and voted in take over.  And since that’s the case there’s a request for them to send over the 2022 budget.  We’re already in April and the budget hasn’t even been approved…

Deepwoodz – Dinar Guru  Article: “Al-Kazemi announces bold decisions to protect citizens”  You have Kadhimi proposing the Food Security Law that MUST be passed to protect the citizens but somehow he can’t do the same thing for the 2022 Budget Law? …they’ve had the budget ready since last year and they could certainly have presented it in October…Makes absolutely no sense...The only common denominator I see are the Iranian influence. They didn’t want to reveal it to the last parliament because of them. They don’t want to reveal it yet until they finish the process of creating a government without Maliki in particular and Iranian influence in general…Kadhimi will be the PM again.

Militiaman – Dinar Guru  My view is that there is way to much evidence that a change is coming and quickly... The liquidity issue if they haven’t printed new money, it is an injection of already printed large notes. Fairly simple to me. It is gesture imo on their part to make sure the poor has liquidity. There has been no proof there is any new large notes injected into the economy. If there was it would not be at 1460 or 1470, it would be worse...At this stage, that is highly unlikely to happen…they are geared for a level playing field with a fully IMF compliant Article 8 currency…The WTO is in the wings as well. They will not fully be international until they are in compliance. imo The world is watching..

Mountain Goat – Dinar Guru   “THE OLD PRICE IS COMING..POLITICAL FORCES AGREE ON A MAP TO REDUCE THE EXCHANGE RATES OF THE DOLLAR AGAINST THE DINAR”   But what is the “old price” they are talking about? 1450 –> 1120 OR 1450 –> $3+  Quote:  “The coordinating framework, with all its might, is agreed to reconsider the dollar exchange rate file through a supreme committee consisting of experts to develop a road map”  This roadmap to changing the exchange rate is already completed. It was completed in 2011. Remember the CBI is in charge of monetary policy not non-elected or elected officials…

Mountain Goat – Dinar Guru  You can clearly see on this chart what the rate of the IQD was in 1972. Today Iraq’s economy is actually much better and pumping more oil now than in 1972. The price of oil is also staying at records high today while in 1972 oil was very low. This article only gives us yet more proof that the rate of the IQD is being artificially manipulated.