Dinar Observer Daily

Clare – Dinar Guru  Article: “Government official: Iraq is not thinking of floating the currency at the moment”   THIS IS A DISINFORMATION PIECE, IMO … THE OFFICIAL IS NOT EVEN NAMED…  “The official, who asked not to be named,“

Sandy Ingram – Dinar Guru  Really good news – Article: “Iraq’s oil  revenues during the first half of 2022 exceeded $60 bln”  The country expects to increase oil exports by 2 million barrels per day in 2023.  Iraq is doing it’s thing when it comes to oil…

Pimpy – Dinar Guru  Could civil war happen [In Iraq]?  It looks like Sadr is pretty serious about what’s going on.   Although he’s not said it outright he has made it perfectly clear that he’s ready to take things to the next level…at this rate it’s closer to civil war than people think…

Kaperoni – Dinar Guru   There is an article that came out today that says Iraq is not planning to float the currency. This title is misleading…When you read the actual article it says that they can’t float the currency without diversifying the economy. And the question I ask you is what has Iraq been saying for the past 3 years that they’re trying to do? That’s correct they’re trying to diversify their economy.

Pimpy – Dinar Guru  Article: “Government official:  Iraq is not thinking of floating the currency at the moment”  They’re sure doing a lot of talking about what they want to do with the Iraq dinar.  If I didn’t know any better, if we didn’t have an issue establishing the government and getting the budget out we’d be a whole lot closer to the rate change happening with the Iraqi dinar…What’s going on in Iraq is upsetting.  This deadlock with forming a government is stifling the growth and potential of the Iraqi dinar.

Tivon – Dinar Guru  Article: “Government official: Iraq is not thinking of floating the currency at the moment”  The government is not thinking of floating the currency in light of every conceivable reason to do exactly that for the same reasons they said it’s not feasible?  …They [Iraqi citizens] were already told by the CBI and their news media to expect their currency to float soon…

Mountain Goat – Dinar Guru  So, how many times must Iraq tell us that the only entity that has the power to change the currency exchange rate is within the coordination of the CBI and the Finance ministry. The cabinet DOES NOT have the power to change the exchange rate, EVER! 

Pimpy – Dinar Guru  All these things about redemption centers and 800 numbers and back screens and people on standby, tier 1 and tier 2 – all of that is bull crap…there’s no redemption centers, there’s no 800 numbers, there’s no military intel…

RVAlready – Dinar Guru  Ignore their politics, focus on the RV.  We were told that, at the end, Iraq would be blowing smoke.  It looks to me like we are converging on the RV. Lots of bullshoot out there trying to convince us otherwise. You know the actual release date will remain totally hidden until this is all over.

Samson – Dinar Guru   Article:   “Erbil Municipality announces the paving of streets in the capital with a billion dinars“

Tivon – Dinar Guru  You all will have to be mindful of the fact that you hold currency that some bank tellers will be tempted to confiscate by telling you your money is inauthentic and keep it for themselves and exchange it later…you have to guard your currency and do not allow them to keep it without validating the reason with undeniable evidence that what you hold is invalid…If they take it out of your view and not shredding it you may have some “Theft by Counterfeit” perpetrators on your hand(s).  [Post 1 of 2]

Tivon – Dinar Guru  …This type of money is too large for your average bank teller…there really is no reason to deal with them. Once in the bank ask for the manager. Inform him you have IQD and would like to discretely exchange and deposit a small amount until you figure out what your next move is. If they want to authenticate your IQD give them the smallest bill you have and you want to see them destroyed in plain view if they are found to be fake. There should only be two people in the room. You and the person in question. Imo   [Post 2 of 2]

Pimpy – Dinar Guru  Article: “Al-Kazemi’s advisor:  The situation in Iraq will not affect the economy”  That’s not true.  That’s not true at all.  The way their laws are set if there’s not a new budget for a year you continue down the path that you did for the previous year but it’s on a month by month basis.  When it comes to…building alternative revenue so you’re not so reliant on oil, how can you do that when you cannot fund these projects?  They’re stuck…having a ton of money doesn’t mean your economy is fine…

Mountain Goat – Dinar Guru  Issuing the lower denoms has, in part, already been done (250 and 500). The rest is yet to come and will be issued as they increase the exchange rate. I am told this increase will not happen gradually but all at once. The next step is to monitor for inflation for a week or two and then to reinstate on FOREX.   We will not get to the rates we want until on FOREX. Currencies are traded on FOREX and other global currency exchanges NOT on NASDAQ, NYSE or in any other of the stock markets, even ISX (the Iraqi stock exchange).

Tivon – Dinar Guru   …The CBI does not have to announce that they are Article 8.  The only time we will know that is when we literally see the rate on the Forex.

Pimpy – Dinar Guru  There’s still a stalemate going on but…there was a solution that I think is very interesting put forwardly Sadr.  Article:  “Al-Sadr proposes a “solution” to the political crisis: forming a government devoid of the Sadrists and “Malikis”  …It’s going to look like Sadr is willing to do whatever it takes for the Iraqi people and you know dang well Maliki is not going to agree to this and it’s going to make Maliki look bad…I’m not sure how they’re going to get out of this deadlock…

Jeff – Dinar Investor   Iraq pulled a fast one right under everyone of your noses…per the Central Bank Iraq must have political stability, a formed complete government to revalue the currency.  They’re telling you now they’re going to be rescheduling the elections and dissolving parliament…Are we waiting until around September of next your?  …the elections could easily take 3 to 6 months…Are you possibly waiting until sometime in 2024 to see a currency revaluation?

Samson – Dinar Guru  Article: “The protesters continue their sit-in to achieve the demands, most notably the dissolution of Parliament“

MilitiaMan  – Dinar Guru   Question:  “I thought that PM K could dissolve parliament on his own, not needing any vote from Parliament…. Did I misunderstand..?” There was speculation that Kahdimi could use necessary powers to do so. However…there is a likelihood that a more specific constitutional way is being used. There are more than one.

Humble1 – Dinar Guru  Community comment  “They can’t do this on a program rate.”  That is not an accurate statement, as they can do whatever they want inside of Iraq, as the dinar is used inside the country.  What I think you mean is that they won’t attract external investment in a large enough amount to move their country forward at a program rate.  [Post 1 of 2]

Humble1 – Dinar Guru   What makes the difference is not the exchange rate compared to other currencies, but the availability of ease of moving money in and out of the country and the ability to easily convert from one currency into another.  The difference we are all looking for is for Iraq to re-instate the Dinar back onto the world markets, and in order for them to accomplish that, they need a realistic exchange rate to go along with the re-instatement, IMO   [Post 2 of 2]

BobTheTaxMan – Dinar Guru   IQD Roundup – It was created during the Iraqi war around 2003.  It replace the previous currency that once had a value of $3.75…it’s managed by the Iraqi government and the CBI…under a managed float with little change in value for nearly 2 decades.  The currency value is 1 IQD to…less than a tenth of a penny.  The CBI has often stated their goal is to return to previous levels and stated they could support a $1.17…right now with all these new contractors coming in and the value of oil being what it is I wouldn’t be surprised if it did come out at a much better rate than what we thought...

Pimpy – Dinar Guru  The political situation is not stable.  You have civil unrest which is not what you want if you’re going to raise your exchange rate.   I’m not saying the exchange rate is not going to change.  If that was the case I wouldn’t even waste my time.  I have Iraqi dinar.  I would sell it if I didn’t think it was going to happen…sooner or later these people are going to get their crap together and they’re going to move forward…

Tivon – Dinar Guru   Gradually and internally reducing the USD price in the country until it reaches 1:1 will probably be the marker to reinstate on the international markets. This makes sense to me.  But other alternatives could be at play.  At least it’s out there now.  I am just wondering how long until equal value is reached within their markets before they decide to release it on the global markets.

Sandy Ingram – Dinar Guru    Article:  “Could Iraq slide into civil war?”  Iraq has not be able to form a government and things have gotten worse.  The global news networks are openly asking questions no one wanted to previously talk about…

Mountain Goat – Dinar Guru   Moving into August already. What will August bring us? There must be a breakthrough soon on the formation of the new govt in Iraq. Already they are saying this election process has hit a Guiness book of world records on the longest. But we all should know by now what the real cause of the delay is really all about. It is about corruption…Can they finally destroy Nori al-Maliki and rid Iraq of him…once and for all?

RVAlready – Dinar Guru   It is not the same old story. We are now pretty sure that the CBI is ready to push the button. They will do so as soon as parliament votes in a new president of the republic. In other words, we may be days away from the RV.

Jeff – Dinar Guru  …The dinar has not changed.  It remains…1460.  That’s where it’s remained since it was devalued in December 20, 2020.  No change has occurred.  It remains the same…the banks have to price everything off of the CBI.  The CBI is the mother source in this.  This is where everything starts against the currency…the rate has not changed.

Militiaman – Dinar Guru  I’m a little bit numb.  I pinched myself a couple time because at this stage of the game it may not be terribly surprising but this it’s surprising because it’s actually here.  We’re seeing the results of all the things we’ve been talking about come to fruition.  Things that we never even thought of are happening…it’s time to give them what they need and show them a new exchange rate…

Petra – Dinar Guru   This is great news [Kazemi announcing to citizens a new exchange rate is coming].  I don’t know how to respond.  It’s exciting.  It’s good.  It’s something we’ve all been waiting for for quite some time…