Dinar Observer Daily

MilitiaMan – Dinar Guru   [It will be interesting to see when/if they open Sunday if the comma was to be a comma or a period...]  …Personally, I don’t think it was a mistake. I think they were ready to RI, but, then realized they were not ready just yet, hence the adjustment back to normal…

Breitling – Dinar Guru   …the CBI has one goal and one goal only – that’s to manage the currency…they fully confirmed they want to get it [the dinar] to a buck-17 ($1.17)…I got nothing but great news.  These guys are still talking about it more than ever.  They need to get the dinar up to about $1.17.  Don’t know what the entry level is. They actually want to add value to it and then float it up.  Whatever value they start at – 20 cents, 30 cents 40 cents doesn’t matter.  Then they’ll float it up…

Chattels – Dinar Guru   Article quote:  “…Iraqi Shiite political blocs have rejected all the names on Iraqi Prime Minister designate Mustafa al-Kadhimi’s proposed cabinet list, according to a senior member of al-Hikma Shiite political coalition.”  Mustafa al-Kadhimi’s proposed cabinet list has been rejected…

Pimpy – Dinar Guru  …if the rate change happened in February and we’re now at the end of April don’t you think we’d heard about it?  And if this [Iraq Stock Exchange Index reporting 1000% Increase] is some kind of sign of a rate change, dude, don’t you think people around the world would be buying every dinar on the market?  Because this would be telling them ahead of time.  Somebody’s head would roll.  People would be going to jail.  This kind of boo-boo would not be made.  The number is consistent with these other numbers [484.79] except for it by accident somebody put a comma [462,830] here instead of a period.  That’s all that is…

Adam Montana – Dinar Guru   Article:  “The Iraqi Stock Exchange announces the resumption of trading next Sunday   22nd April, 2020”   … the Iraqi Stock Exchange had a short pause, but they are obviously back at it. Neither Ramadan nor ‘Rona is stopping this train!  …This is nothing short of incredible, that the price of OIL can drop to negative and the world basically shuts down, yet the IQD Train keeps on chugging...

Mountain Goat – Dinar Guru  …The lull in the demonstrations over the COVID 19 virus is about to end and they know it. Now it the time to get the matters of forming the new government settled and moving ahead. The price of oil surely does not do any good in this process and only adds to the crisis. …So, now I want to add that all is not lost for us investors in the Iraqi dinar. Things may look very gloomy and certainly they are… But we know from the past too that if certain elements (namely oil revenues, economic independence and political stability) can be achieved this country can very quickly rebound and in a matter of short time turn all this around…

Kaperoni – Dinar Guru  The last two days has been interesting since members of the Parliamentary Finance Committee have come out and stressed the need to diversify the economy as a result of low oil prices. Maybe this is the kick in the butt they need.

Dinar Investor – Jeff  …the pricing index shows it’s one-to-one right now on the background yet we haven’t seen a rate change occur while it’s at one-to-one.  So the value is most likely going to be where Kuwait is at the second step.  Probably greater than Kuwait.

Adam Montana – Dinar Guru   Article:   “A source for «Economy News»: Iraq adopts the price of $30 a barrel of oil in the budget for the year 2020”   To me, that actually seems realistic.  Achievable.  And it’s a number they can work with!  An interesting point regarding the oil and the value of IQD is this: the price per barrel is not nearly as important, for the value of their currency, as the amount they have in the ground. Also, it’s not just “oil” that counts here – natural gas is important as well.  Iraq has plenty, and until the world stops using OIL, Iraq will have a rightful place at the table.

Adam Montana – Dinar Guru    OIL rocked our world over the last 7 days…there was an unprecedented…situation where WTI (OIL) went to $0, then negative. This has NEVER HAPPENED BEFORE. EVER.  I even posted in a recent update that “oil will never be free”, and the markets proved me wrong…because for a short window, negative prices means OIL was even better than free! 😆 Not that we could ever get paid to fill up our tanks, but I can admit when I am wrong. …Today is the general start of Ramadan. In years past, I have always maintained the opinion that “nothing happens during Ramadan”.  I also stated that “oil will never be free”, and I was wrong about that! I’m not going to say “two wrongs make a right”, but this is a unique situation. The most unique, ever, in the history of the world, in fact.  We are witnessing a financial shakeup never before seen, and barely even imagined. What is happening right now is so off-the-charts unexpected that I’m going to retract my former opinion…maybe something will get done during Ramadan!

Dinar Investor – Jeff    Adnan Al-Zurfi just Tweeted on April 21st “The country is no longer stolen, they formed the government and comforted the people.”  …99% of the media is all frickin lies.  You want proof?  Here you go.  This guy was the former Prime Minister designate before the current one and he’s telling you it’s done and complete.

Dinar Investor – Jeff  ...IMO because Iraq started the rate change process on March 17th that means they cannot turn the ISX back on until the rate change process has completed...and then about a week and a half ago I told you my opinion that they would resume the ISX and turn it on around Sunday April 26th.  We got that confirmed…in the news just a few days later.  They told us factually that yes they’re going to reinstate the ISX on Sunday the 26th.  They’re basically telling us that because they shut the ISX down due to an impending rate change they kind of confirmed that they cannot reinstate the ISX until the rate has changed.

Kaperoni – Dinar Guru   …there are no exchange centers, 800#s or cash in places…If and when the dinar ever begins to rise in value, IMO you will have to create a bank account with a currency broker (market maker) or some ECN (An ECN broker is a Forex financial expert who uses such a network to provide its clients direct access to other participants in the market) and manage it like any other foreign currency…

The story of the Iraqi currency – قصَّة العُمْلة العراقيَّة

Tman23 – Dinar Guru   their coffers were low and now running dry…by law operating on a past budget since their parliament can’t seem to get a quorum and function…so now paychecks will be rationed or simply cut off…they are in dire straights…they have nowhere to turn to borrow…Wells have dried up…Pun intended…  so in past they complained about the costs of printing new money…so either they got it printed and ready and if they don’t…rut roe…but I believe they have plans to release before June…second semester of financial year they can change…But never in the middle or middle of a quarter… if anyone recalls when Shabibi was talking first of the year they always put the delay date to June.

Dinar Investor – Jeff  …something significant has happened on the CBI website…what does it mean to ‘delete the zeros‘? …it does not mean removing or withdrawing from circulation.  It’s referring to deleting the zeros in the exchange rate.  .00084 is the value of the US dollar against the dinar…if we took the zeros off the exchange rate it would become .84 …overall I call this a rate change process and it’s taking roughly 5 weeks.  Why would it take so long?  This was a multi-step process…[CBI website: General Price Index of ISX] Iraq Stock Exchange…transitioned from millions to billions…this new change structure was posted as of 4-13 of 2020…based on the math the dinar is currently about 80 cents range…General index means it gauges a change in purchase power against the value of whatever currency it’s reference…

Pimpy – Dinar Guru  In June the IMF, The World Bank, The United Nations and America are going to be meeting with the government and hopefully this new government of Iraq.  The reason why to me this is interesting, these are all the key players, the big dogs, that need to decide on whether or not to remove the currency restriction that’s on Iraq.  Will they find that this government is stable?  Will they feel confident in it?  Will they remove the sanctions/restrictions on their currency and allow it to go ahead and be recognized internationally again? …We need that to happen.  I’m hoping it does because it’s gonna bring a ton of speculator out of the woodwork to come and invest into this currency knowing that there is a ton of possible development in Iraq.   So let’s hope when they are recognized internationally that we see them immediately on the Forex trading at the rate we want to see them trading at…

Tman23 – Dinar Guru   we all agree it is just pure speculation. And no banking institution will ever give a sign that there will be an increase in value, which is common sense to why that is the standard…optimistic that a change is coming only because of current world economic conditions…my hesitation had always been the 3 zeros on the physical currency itself…and this statement from a CBI meeting in Dubai…2 years ago…the new currency must come first as a prelude to the lifting of the 3 zeroes from the currency …that statement is embedded in my head.  THE NEW CURRENCY MUST COME FIRST AS A PRELUDE TO LIFTING THE 3 ZEROS FROM THE CURRENCY…so certainly sounds like new currency first and then not accounting the 3 zeros at time of exchange…why my thought had always been…exchange period for a short timeframe with 3 zero notes…and those holding for bigger gains on a float…good luck…of course just my opinion as another scenario.

Delta – Dinar Guru   Article:  “News about the final agreement on the cabin of the government of Mustafa Al-Kadhimi 22 ministries  (Candidates for ministries between politicians and independents).” It’s now decided, and the vote will be next Tuesday.

Tman23 – Dinar Guru   [What is the import of such a new currency for dinarians? In your opinion.]  No importance to dinar investors unless it turns to be a redenomination.  But the release certainly would require a rate different than 0.00086.

Pimpy – Dinar Guru   Everyone is presenting the names of the candidates they want to be part of Al-Kazimi’s…they’re establishing this ministry and getting him voted in as quickly as possible…this has not been voted on yet.  It will be voted on I believe next Tuesday…So far so good.  Usually by now we’ve seen all kinds of articles where people were threatening to block the ministry and block the P.M.  We’re not seeing that right now.  I think parliament is smart enough to realize that ‘hey we actually don’t want to lose our power.  We need to find some type of compromise.’  We’ll keep an eye on what’s on…we’ll see if it actually makes it …We will find out next week for sure.  Or where they [parliament] get dissolved…

Dinar Investor – Jeff    Article:  “An Iraqi consultant returns the high price of the dollar to two workers and sets the date for its stability“. Quote:  “The process of increasing the foreign exchange rate of the Iraqi dinar always occurs during official holidays.”  The corona virus quarantine period IS A HOLIDAY!  When is Iraq’s stock exchange going back online?  Right now it’s set to restore as of April 26th…

Pimpy – Dinar Guru …I don’t know what the hell is going on with the auctions…it’s the same as it’s been.  It hasn’t changed so of course there’s no cash going on but there was a currency auction in regards to digital I just thought this part was interesting, “The results of the foreign currency sales window for Tuesday, 3/24/2020 with covers the period from 4/4/2020 to 4/16/2020” not sure what’s going on there but we shall soon see…weird…

Mountain Goat – Dinar Guru  Article quote:  “…one of the main factors for facing the challenges in the budget 2020 IS FILLING A PORTION OF THE FISCAL DEFICIT DIRECTED AT BORROWING FROM THE CENTRAL BANK RESERVES, but borrowing can only be made in the presence of a fully-fledged government…”   so, the conclusion is they can not use the CBI reserves unless there is a full government in place. So the pressure is on to conclude this government shortly.

Dinar Investor – Jeff    Trump has this timed perfectly so Iraq quarantine period ends, they change the rate... And by the time the U.S. quarantine period ends the change has already occurred and a few people may have gotten a chance to get to the bank.  Some can’t because some states have tighter restrictions on the banks.  Where I’m at our banks are open…The ISX is going to come back online as of Sunday the 26th…

Dinar Investor – Jeff  …I firmly believe the rate has changed but privately only on the accounting books.  Right now it’s not public.  It’s not even public in country.  I don’t believe in a separate rate where it can go in country first and then out of country at a later date.  I don’t believe in that logic or theory...IMO once it changes it can only change one place, one time and then they’re international…

Francis Albert – Dinar Guru   Russia, Saudi Arabia, Mexico with U.S. help reach “Historic” deal to cut about 10 Million Barrels per day. So, if higher prices play into our investment, then IMO, oil prices will rise at the opening bell tomorrow.

Dinar Investor – Jeff   We’re gonna see how long they keep extending this date out {quarantine date in Iraq}.  We’re gonna follow the ISX.  We’re gonna see how long they keep that shut down.  We’re gonna follow the currency auctions to make sure they don’t have more currency auctions.  If they they don’t have any more currency auctions and the ISX stays closing…IMO throughout this week you will not see any more currency auctions…we won’t see any more until they publicly bring us the rate change.  That will confirm everything I’ve shared…they have already changed the rate but they have to hide it from you until they see the coronavirus numbers coming down to a low enough level to where it’s safe for you and I to go into the banks and actually physically work with the bankers so they’re not put at any kind of risk…

Dinar Investor – Jeff  …I am not expecting anything this weekend…my next personal timer frame is next weekend...as long as they don’t have any currency auctions, as long as the ISX stays closed…Why haven’t we see it yet?  This is very simple.  It’s the coronavirus…they do not want us in the middle of the virus when it’s hitting really high highs.  They don’t want us storming into the banks…that puts the bankers at tremendous risk…IMO those are the reasons why they are simply not allowing the rate to be publicly changed now… [Post 2 of 2]

Dinar Investor – Jeff   I don’t believe the rate will change as of this weekend…Iraq is the only country in the world to have shut down their stock exchange.  That’s huge…IMO the rate did change…but it’s only changed on the accounting books.  It’s not in the public realm.  That is why Iraq had to shut down all their markets and also why they had to sneak in the last two currency auctions…they had to close out all the old accounting books for the fiscal year of 2019 before the rate could change.  IMO the rate did change privately on the back-end over the weekend of 3-21 and 3-22… [Post 1 of 2]