Dinar Observer Daily

Dinar Investor – Jeff  …they’ve told us they’re going to vote on the government tomorrow.  They’ve also told us they would do it Thursday.  It may be a one or two day session of parliament.  We’ll have to see how that unfolds and occurs…

Pimpy – Dinar Guru  …I told you guys this week’s gonna be big.  Not only are we gonna find out whether or not Al-Kazemi makes it in as P.M. and his cabinet gets voted or whether he fails and the President has the right to dissolve Parliament…this could be an exciting week…between tonight and tomorrow all the parliament members are going to be arriving to vote.  The rumor is that he’s going to get about 75% of the votes…

Delta – Dinar Guru  “Parliament announces that the voting session for the ministerial program and the government cabinet will be held next Wednesday evening“

Kaperoni – Dinar Guru  Iraq it’s going to set aside Wednesday as the day for Parliament to vote on the new prime minister and his cabinet. We will have to wait and see if it’s confirmed.

Kaperoni – Dinar Guru   Article quote:  …”all countries of the world follow the policy of floating currency except in Iraq because the currency auction is one of the chapters of corruption that feed the pockets of spoilers,” stressing that “floating the Iraqi dinar will protect Iraq’s reserves from hard currency from loss and waste.”

Pimpy – Dinar Guru  …Looks like Sunday or this weekend we’re going to find out whether or not they have their PM.  Is Al-Kazemi in there?  Did he get his cabinet in there?  Did they finally get what they needed or is this another flop?  And then [Is] the President…going to take over dissolve the parliament and go ahead and just run new elections and have the people voted in themselves…?

Pimpy – Dinar Guru  …looks like our boy Kazemi might be making some headway…I believe it’s Sunday coming up here the day after tomorrow we will know what’s going on with our boy Al-Kazemi and his cabinet, whether they get voted in.  This could be a big step towards what we’re waiting for which of course is the revaluation or the reinstatement of the Iraqi dinar…

Dinar News  The CBI is reporting a change in the official market rate for the dinar!  This could be significant.  As you know, after a few weeks hiatus, the CBI began to update the dinar market rate this week.  It’s been out of compliance with the IMF 2% rule on these updates.  Today’s CBI market rate update is for April 27th – it’s showing a 100 point change to 1124.  This is a STRONGER rate than the official CBI rate of 1190 (remember we want these numbers to go down NOT up).  We’re not sure if this is this a simple typo mistake or if this is real.  If it’s real, it’s significant – the market rate is determined by demand in the Iraqi market and this shows demand is growing for the dinar.  Stay tuned to this interesting news!!

Pimpy – Dinar Guru  …Looks like Sunday or this weekend we’re going to find out whether or not they have their PM.  Is Al-Kazemi in there?  Did he get his cabinet in there?  Did they finally get what they needed or is this another flop?  And then [Is] the President is going to take over dissolve the parliament and go ahead and just run new elections and have the people voted in themselves…?

Adam Montana – Dinar Guru   [How will the the Iranians benefit from an Iraqi re-evaluation of their currency? Does the Iranians have stock piles of Iraq currency? And because of the Iranians having tons of Iraqi dinar will this prevent Iraq from re evaluating their currency?]  Iran is a major factor in the current price of the Iraqi Dinar, I don’t think anyone will disagree with that. I’m certain they do have a large amount of Iraqi Dinar, just like many other nations (including the US). And when this is actually “done”, it may be that Iran and Iraq are at major odds, even flat out war, as a result of it all when we reach the next stage. The Middle East will always be at war… To answer your final question – and probably the most important one in the post – I don’t believe that Iran’s possession of Iraqi Dinar will prevent Iraq from raising the value. It may impact the “how”, but not the “if”.

Adam Montana – Dinar Guru   Day 6jillion7bazillion876,9876,350,876  of the ‘Rona lock down…Countries like Iraq should certainly be wiped out and pleading for mercy… Especially with OIL taking the huge hit that it took recently!  That is not the case…Iraq is not only “fine”, they are more than fine! They have weathered a monster hit to the price of oil without lowering their rate. They are surviving an unbelievable shakeup of their government, and…(Thursday) to May 8 look to be key dates for finalizing some more of that critical work… Don’t get me wrong – I’m not saying Coronavirus was a “hoax”. On the contrary, it has been devastating for some… and the economic damage may never be fully calculated.  But the world did not end. We will move past all of this. And the Iraqi Dinar is still a very real item that holds a massive amount of potential…

Dinar Investor – Jeff  …We are now only waiting for Iraq to form the GOI to go International…the new GOI will be approved by the constitutional deadline of May 8th…

Pimpy – Dinar Guru  … We know that over in Iraq…what we’re waiting for is Al-Kazami whether he’s going to get in there as Prime Minister and he’s going to have his cabinet or government and they’re gonna get voted in…we also know that in June the UN, IMF and the United States are going to be in Iraq…the article said it wasn’t just about military bases…Do you think the United States would just pull out after everything that happened.  Like Trump said do you think we will just leave and leave the bases there without getting paid?  Looks like Trump is pulling out.  This is what they [Iraq] wanted.  Did they come up with some type of agreement?  Hmmm I wonder.  It makes you wonder.  Do they have some kind of understanding?  Does Trump know something we don’t know?  Is the rate change finally getting ready to happen?

Delta – Dinar Guru  …[The CEO of the Iraqi Stock Exchange was asked] ‘How come the Iraqi Stock Exchange is not going international?’ He said very simple, because of foreign currency.  Because the Iraqi dinar basically is not international.  It’s not tradable.  It’s not recognizable.  Which is more confirmation to us…

Mountain Goat – Dinar Guru   …There is still very strong talk (outside of the mainstream news media) that Allawi may still fill the prime minister position as he is the best candidate and fully supported by Mutada Al-Sadr. Remember Sadr won the 2018 election and it’s the reform party that gets to pick the new prime minister not the Iraqi Shiite political blocs. We will see what happens in the last days of Al-Kazemi 30 days period. Yes, this will go down to the wire again and not be decided prior to the final days…

Dinar Update  The CBI made the first market rate update since March 17th Yesterday.  They updated three days in April…the 21st, 22nd, 23rd.  All three rate appear to be out of compliance with the IMF 2% rule.  April 23rd market rate is 1225.  Also, they changed the format of the numbers reported by dropping the three numbers to the right of the decimal point.  This is not the first time the dinar has been out of compliance over the last couple year.  In the past it’s been out for a couple day and then returned to be well withing compliance for the monthly average.  Will the CBI be able to do the same thing this time?  Stay tuned…

Adam Montana – Dinar Guru  [Question:  If it was to RV at .10 – 1.13 and we wait to cash in, until it goes up more, would we be able to keep it that long, and cash in at a higher rate? Or are we going to have a time limit to cash in?]  That’s a great question, and one nobody will be able to answer. It will depend entirely on what the CBI dictates, and they can do anything they want.

Pimpy – Dinar Guru  …we know the UN, the IMF and the State Department, Mike Pompeo, anyways are going to be meeting in Iraq in June.  We know this is gonna happen.  I know you guys are hoping just like I do that they go ahead and remove the restriction off the currency and allow them to trade on the Forex. Let’s cross our fingers and hope that happens.  If they do then…look forward to a lot of speculators to jump all over that currency.  There are people who want to invest in a currency but are concerned because the currency is not recognized internationally.  So you can only imagine what that’s gonna do to the currency once it is floating and you can invest in it.  It’s gonna drive that sucker up.  That just my opinion…

Delta – Dinar Guru   …A question was asked to the head of ISX why they did not go international.  He said because of the currency issue…BOOM.

Pimpy – Dinar Guru  …the stock market is officially open… don’t put all your eggs in one basket.  Just because one person says this is the date…it would have been nice.  I was kind of hoping for it…but I still absolutely positively feel 100% that this is gonna happen and it’s gonna happen soon…So yeah the stock market has been open.  We also know in addition to that the auctions are still happening…I know it’s gonna happen soon.  It’s gonna happen this year I really believe that.  There’s no reason for it not to.

Adam Montana – Dinar Guru   [Question:  …it would seem that Iraq is between a rock and a hard place. Oil down and Iraq once again has it hand out to the IMF and WB. This time the IMF and WB are pushing back…]   YES!  And they were told they would get no more than 2 billion dollars… that is nothing.  We aren’t the only ones who know that Iraq has the potential to solve their own problems.  Time to GET IT DONE!

Adam Montana – Dinar Guru  [Question:  …Couldn’t Iraq increase the currency/value as a nation by completing an RV despite the plummeting oil prices which accounts for most of the value?…]  In a word: YES.  The price per barrel of oil is a temporary situation.   Iraq holding one of the largest physical stores of oil is not temporary.  They are already talking about setting their budget on an amount much higher than current market.  This situation with the price of oil will be remembered, but it will not last.

Adam Montana – Dinar Guru   [Question:  In the past you have been pretty certain there would be no RV during Ramadan.  Still feel that way?]  I’m inclined to break tradition here. This Ramadan is different, and I’m leaving the door wide open…THIS IS A CRAZY TIME!  In years past, I’ve always said “no” to that idea.   I am NOT saying “no” this time!

Delta – Dinar Guru   …it’s not a holiday.  Just to clear this up...Ramadan…it’s not a holiday, it’s business as usual.  Yes the Central bank they can do a lot of things during Ramadan…They may reduce hours because it’s hot and they have to fast etc. but it’s not a holiday.  It’s business as usual…

Kaperoni – Dinar Guru   As predicted, no change in the dinar. 

MilitiaMan – Dinar Guru   […it appears the ISX opened at 442 and closed at  430.47 at a loss of 3.24%…No change in Index…]   Though, the CBI still shows this and the ISX doesn’t trade nor trump the CBI… So it is not behind us just yet..In fact, there is more support that the CBI is following through with their process irregard to the ISX trading today as normal.  The CBI will neeed to change the rate to the IQD first. imo.

Kaperoni – Dinar Guru  Iraq minted coins way back in 2004 in fact a few of them were released and ended up being play toys because of their lack of value. If and when the dinar ever gets to a value that is more appropriate they will release coins and lower denominations.

Breitling – Dinar Guru  …the IMF is rejecting requests for loans from Iraq because the IMF is sitting there looking at Iraq’s value in their currency and they’re telling them you need to add value to your currency…a lot of people are saying the IMF is rejecting proposals/loans to Iraq because of the corrupt government.  No, it’s not.  It has to do with the oil prices going down.  The IMF is going how are you gonna pay this back?  They need to add value to their currency.  Very very good news for us…

MilitiaMan – Dinar Guru  The ISX site is down and my understanding it has been down for a significant amount of time today on and off and even before they started/if they started trading...

Breitling – Dinar Guru  …they’re not in the position where they’re doomed or anything like that.  If they do this correctly – add value to their currency, get in the markets and then float the value of their currency based on market needs from a global perspective.  That’s exactly the conversation they’re having – The Ministry of Finance, The Ministry of Planning and the CBI.  That’s very very good news for us.  But the question is, ‘Is this a one shot opportunity?’  No, it’s not a one shot opportunity.    There are a couple moves they can make.  Are they desperate and need to add value now?  Absolutely.  But let’s say they don’t…It’s so undervalued there are a couple things they can do.  What I mean by a couple things they can do is –  what rate they come out at and what time frame they can get to $1.17…