Dinar Observer Daily

Pimpy – Dinar Guru    Article:   “Saleh: High oil prices will push the government to prepare a supplementary budget”  I already heard some of the gurus out there thinking that this is something to do with changing the rate…IMO nowhere on here does it say this would affect the rate of the dinar.  One of the reasons why they have a lower deficit than they had before is because they devalued the dinar.  So if they wanted to hurry up and be able to cover their budget you might not see a change in the rate of the Iraqi dinar…

MilitiaMan – Dinar Guru   Article quote:  “An economist warns of a decline in the citizen’s purchasing power as the dollar’s exchange rate continues to rise”   …a move to the private sector is upon Iraq…If not disaster looms… We see that the dollar auctions are not the same as they were in the past and now there are calls now for them to cease abroad as well, imo… That is powerful. 0 $ – Auctions, means to me a rate change is coming to offset the liquidity needed to run the country with new Dinar… Fairly sure that is the plan and the world knows it… As in the G7, UST, IMF, WG, WTO, BUNA, SWIFT, etc… All support the move and even a digital one…they are all involved in the architecture of the larger plan…imo…

Dinar Investor – Jeff   Since December to now, mid-February, both the World Bank and the IMF have shown their face more than they have before. Why?  It’s because both the World Bank and the IMF are bringing Iraq to the finish line…both the World Bank and the IMF are working with Iraq to bring their economy and country to the international world…

Frank26 – Dinar Guru    Article:  “Iraqi government to begin implementation phase of the white paper for economic reform”  What’s in the White Papers IMO?  A rate…those that are coming in that are going to rebuild economically the country of Iraq you think they’ve been shown this new exchange rate?  IMO hell yes!  Quote:   “The Iraqi government is preparing to begin the implementation phase of its reform program known as the White Paper for Economic Reform.”  …the implementation mechanism of the new exchange rate.  The white papers are coming out.   IMO you know what’s in them.  You can see the only way to launch, explode, implement the economic reform is by what?  First having the monetary reform…

Mountain Goat – Dinar Guru   Article:  “AN ECONOMIST: THE FORMATION OF A COMMITTEE FOR ECONOMIC REFORM IS A GOOD AND UNPRECEDENTED STEP TO IMPLEMENT THE PROVISIONS OF THE WHITE PAPER”   did you read it? I quote “FORMATION OF A COMMITTEE FOR ECONOMIC REFORM IS A GOOD AND UNPRECEDENTED STEP TO IMPLEMENT THE PROVISIONS OF THE WHITE PAPER.”   Yes, an UNPRECEDENTED STEP.

Dinar Investor – Jeff   This is not pegged to our calendar.  This is pegged to God’s Hebrew calendar.  Iraq implemented a 90-day tool on December 20th to reduce the 3 zero note count in the country of Iraq…that 90-day step ends Sunday March 21st.  The first month of the Hebrew new year is their 7th month.  It’s the month of Nisan…

Dinar Investor – Jeff    December 20th is when they officially started the reforms by devaluing the currency.  Why did Iraq devalue the currency?  That was a directive and a requirement by the IMF and the World Bank to reduce the 3 zero note count in the country of Iraq so the citizens don’t get rich…It was a 90-day tool.  That’s why they started it on December 20th.  Add 90 days to a Sunday and you got your rate change day

MilitiaMan – Dinar Guru  The recalculating assets, incomes streams from oil, border crossings, tourism, fresh new liquid natural gas income from halting its flaring, agriculture, mineral extraction, etc., all play a roll in the valuation process of the country and her currency. The budget needs the rate not the other way around.

Dinar Investor – Jeff   Who should we be listening to?  The only group you should be listening to is the CBI...the CBI has put out many articles where they said they’re going to delete the zeros (meaning change the rate) at the beginning of a new budget fiscal period...that’s exactly why I keep throwing you clues that Iraq is walking in Kuwait’s footsteps.  What did Kuwait do? Kuwait changed their rate on March 24th of ’91.  Why?  Because Kuwait’s fiscal year starts April 1st.  Iraq is no different…when the CBI talks those are the only ones you really need to listen to…

Mountain Goat – Dinar Guru   Remember…this year the Kuwait compensation will be all paid up and completed. This frees Iraq from any war time debt owed…

Dinar Investor – Jeff   …Is there any news we should be aware of?  Is anything major happening that’s critical?  The answer is you’re seeing the last final step right before your eyes.  It’s the ’21 budget...I’ve already told you when their fiscal is.  Their fiscal year starts April 1st.  I know that for a fact because I’ve reached out and consulted with the Iraqi government…that’s where we’re at.  The ’21 budget is the last step before the rate change…Iraq is very clearly walking in Kuwait’s footsteps.  

Pimpy – Dinar Guru  Article:  “The price of a barrel of Brent crude oil reaches $62.34”   It seems like it’s going up about a buck or so every couple weeks.  This is good.  Keep on going up.  I know we want Iraq to rely on something else other than oil but it sure would be nice if they got a lot of revenue higher than what they budgeted for. This can help them really start taking a lot of these monies…so they can start developing and reconstructing Iraq, provide jobs to the public.  This is what we’re looking for…as there’s more jobs that are available then…the dinar becomes stronger.

MilitiaMan – Dinar Guru  …Taxes and Tariffs, Liquid Natural Gas, Tourism, Phosphates, Sulfur, Gold, and on an on, will support their REER (Real Effective Exchange Rate)!! Big time...imo…

Mountain Goat – Dinar Guru …as far as I know, the only way they can pay for imports if they cancel the currency auctions is to use the dinar. If they use the dinar it will have to be globally tradable. Am I missing something? So, if it is globally tradable it will  have to be reinstated on FOREX. If it is reinstated on FOREX we get to go to the bank. Then only question is about the new rate but we have a good idea what the rate will be as we can see the proposed rates on the bank screens in a “on-hold” state. It is currently at $5 plus. Yes, I said it is over $5.00 dollars in exchange for one dinar. But to get this we will need to see the revaluation in Iraq first, deletion of the zeros and the end to the currency auctions. So there is lots to do but it can all occur very suddenly…

MilitiaMan – Dinar Guru   There has been some good things happening.  What we believe that we’re seeing is a change that’s being presented on foreign currency sites that shows some support for what we’ve been talking about…what the IMF…the AMF…and the Central Bank is converging to use a digital system….so that they’re going to use…less cash…from the IMF’s information, from the AMF information and for all the information about Iraq not wanting to hurt the vulnerable, the obvious is what?  Something different is coming…this whole thing is by design...

Mountain Goat – Dinar Guru   …I talked about Iraq joining the Bona service for currency exchange practices between middle eastern countries. I explained what this may mean for the Iraq dinar. Now they can pay for imports using the dinar. This will allow the currency auctions to finally end…

Mountain Goat – Dinar Guru  …another tip for us is to watch what the GOI is about to do with the collections of the customs and tariffs. They have told us there is an electronic service to be used for this collection process and that this service must be capable of accessing the international currency exchanges. How else would they convert the currencies to the countries of origin and destination? We have known about this service for a long while. They have tried in the past to use this service unsuccessfully since the dinar was not yet international they could not.

Mountain Goat – Dinar Guru  I have told everyone so many times already that the VERY BEST time for the CBI too reinstate the dinar is at the beginning of a new fiscal year. The fiscal year begins in January. They have no plans to change the fiscal year to April…  The new budget is not yet passed and opened to spend and so this is not yet over and there is still time that we might see something from all this. The CBI must now coordinate with the finance ministry on the auditing process to ensure they too are all set to go.

Mountain Goat – Dinar Guru   The finance ministry is telling us that they expect to pass the final 2021 budget this Saturday or Sunday. It is a two-year budget. Kurdistan is the holdup but as usual, they will work out negotiations with them and will need a few days to do so.  Even if all goes well with the Kurds, don’t expect a reinstatement the next day…Instead relax and know it is coming soon and you will probably not have to wait until the year 2022.

Petra – Dinar Guru   I want everyone to understand that they are throwing around a lot of confusion.  A huge amount of confusion…I believe we are in the end days of this…

Walkingstick – Dinar Guru  Lifting the 3 zeros from their exchange rate should be a hot topic in articles in the near approximate future.

Petra – Dinar Guru    Last Monday who was in Iraq ?  Everybody!  The UK .  The IMF.  The GCC.  The IGBC.  Everybody and their mother was in Iraq last Monday.  Did we hear what that was all about?  No…obviously they were there for a reason…when all those people show up…world renowned financial entities all show up.  Obviously something happened.  We can’t talk about it yet.  But clearly there’s evidence there’s been significant progress…

Mountain Goat – Dinar Guru …we must go back to what we know for sure. The CBI confirmed that the Bona service will be launched on the tenth of February. …Bona is a platform that provides real-time clearing and settlement services for cross-border financial transfers between Arab countries and in Arab and international currencies. I am not predicting a date for the RV just do you know…If the Iraqi dinar is on Bona (which they announced it is) this may get a revaluation of the Iraq dinar in the middle east but not necessarily the reinstatement we desire which allows us to go to the banks in the USA. We might have to wait longer until it is connected to the other currency exchanges throughout the world, especially FOREX. Remember we need a reinstatement and a release of OFAC sanction to allow us to exchange our dinar. Incidentally the ISX (Iraqi Stock Exchange) is now experiencing rapid growth of about 25%. WOW!

Dinar Investor – Jeff   This news is red hot.  Article:   “The World Bank: Iraq is experiencing its worst crisis since 2003…We put a large financial portfolio for it – Urgent”   …The World Bank just came out this morning releasing an article screaming at us that Iraq is about to change the rate…the World Bank and the IMF are working with Iraq to bring forth the rate change.   It’s over and done.  All you’re waiting on is the fiscal year [March 2021]…this is red hot news!

MilitiaMan – Dinar Guru   …BUNA is to go live on the TENTH.. The CBI has a new digital system they launched. The CBI states they have approved the new exchange rates. Well the first one was done already, the next rate change is to yet come out. But the CBI states they have approved the exchange rates. The BUNA system by charter will not interconnect to a Non – Article 8 Compliant Currency i am being told. So, the next move is imo to be Article 8 compliant. If they hold to the time frame of the TENTH, then this next week is an interesting one IMO…

MilitiaMan – Dinar Guru  Article quote:  “The Central Bank of Iraq had previously signed an agreement with a number of local banks and completed the technical requirements to participate in the project in coordination with the Arab Monetary Fund,”  Get ready for digital currency…Digital currency will need to be able to communicate on a level playing field. It is said they have this next week to be interconnected with the BUNA system that the IMF has launched for clearing and settlements. They say the TENTH!!!

MilitiaMan – Dinar Guru  “Economic: Parliament cannot change oil prices and the dollar in the 2021 budget”  So they have it now set in stone. The Central Bank approved the new exchange rates and they are not to be challenged by the Parliament, as it is is out of their hands. The exchange rates are not to be amended…They were told by the IMF that they would change the rate in the then current fiscal year and they did it. They were also told by the IMF and the US FED that they could in the IMFs case change it again in early 2021 whereas, the FED just made it perfectly clear that countries can and do “Devalue and Revalue” their currencies.  [post 1 of 2]

Militiaman – Dinar Guru  Article:  “Al-Karawi: 5 files have not been resolved yet in the budget law”  Quote:  “All expectations indicate that the next week will be decisive…”  Next Week starts tomorrow. The data…suggests they have voted on many things. Much of it suggests they are going to be going to the private sector. Automation of Customs and Taxes link via the currency window of the CBI. The final nail is coming…imo.. [post 2 of 2]

Mountain Goat – Dinar Guru   Oh yeh, the budget has a new rate in it… It’s the new de-valued rate of 1450…Okay having said this they can still delete the zero making the rate $1.45 dinar to $1.00 dollar (inside Iraq). This could happen suddenly after they pass the budget.  I doubt it will but let’s explore it…the strategy of reducing the value of the dinar has cut their deficit in half. But what will happen to it when and if they raise the value of the dinar to $1.45? It will explode but can they handle this with proposed loans from the IMF? Time will tell what they do.

Kaperoni –  Floating would harm the economy right now…without exports and a private sector, the dinar would devalue. Until they pass laws, create a private sector and invite foreign investment and diversify Iraq will continue to struggle. Only Iraq can change it.  In the meantime, Sudan is preparing to float. …Article quotes:  “Sudan’s Acting Finance Minister said in an interview this week that the country will make a decision to float its currency when it has sufficient foreign reserves, and that it is also in talks with several parties to obtain loans and grants.”; “We in the government must commit to unifying the exchange rate, and the decision to float the currency will be taken after the provision of foreign reserves in the central bank, along with economic policies that regulate supply and demand,”…