Dinar Observer Daily

MilitiaMan – Dinar Guru  The new PM has a very serious and a professional back ground and some serious issues to tackle…The country has no liquidity and will need to implement the reforms to alleviate the lack of liquidity issue. IMO…we know this last weekend there were meetings at the highest levels to provide immediate solutions.  I believe that the PM was privy to those meetings and understands the totality of where they are in regard to the crisis. The tools and or solutions would have been discussed and options were probably on the table. The best ones were i’ll bet the ones we are looking forward too. That is the citizens get jobs, they get purchase power and we do as well…All things point to the Reforms getting in place now and very quickly from here on out…The pressure is now far too intense to not.…

Kaperoni – Dinar Guru   …Again economic and monetary policy are not random and require hard work. Iraq needs to create the conditions do invite investment and develop a market economy. There are no shortcuts.

Dinar Investor – Jeff  …For the entire month of May there is only one day that qualifies for the rate change to even be able to happen…large rate changes can only occur over a period time when all financial markets are closed around the world…that’s why Kuwait did there’s on early Sunday morning March 24th of ’91…Sunday is Iraq’s and Kuwait’s first business day of their weeks…Iraq will also have to have an in-country holiday to justify shutting and closing down their in country financial markets such as their ISX and their currency auctions.  For the month of May Iraq only has one weekend holiday period.  That happens to be Sunday May 24th.  If Iraq is going to change the rate in the month of May the only day they could do it on…would be Sunday May 24th...they said they’ll have the government done by May 23rd...everything is looking good.  Moving in the right direction…

MilitiaMan – Dinar Guru   Article quote:  “…the Prime Minister in consultation with the Minister of Finance may launch the exchange when liquidity is available”  Kinda looks like the Prime Minister and the Finance Minister had a chat about launching the, or an exchange when liquidity is available..  Well what liquidity are they talking about? They have no hard currency ($USD) nor will they apparently be getting any more any time soon, either. They know they will have liquidity once they inject the new currency to a live international level. A program rate is going no where! imo.  [post 1 of 2]

MilitiaMan – Dinar Guru  They know the secondary markets are the place to be in to defend oil price swings, currency, etc.. They know when they get fully Article 8 compliant with a new international rate, the SDR basket will or may at least have serious relevance… The Time is now.  They can not get to the level  they need to be or where it is even an option to do either of the two possibilities with out a strong international currency, imo.  No SDR or Secondary Market is on the table at a program rate. Neither one of them can happen with out them lifting the value of the IQD, imo. They had no, nor have now, any more options to put it off!! They are in a corner and the new PM knows it.  [post 2 of 2]

Dinar News Flash  Iraq has a new Prime Minister…(sorta)!  PM Al-Kazemi and 15 of his ministers given a vote of confidence.  This is fantastic news for the stability of Iraq and the dinar.  The very important Minister of Defense and Interior were included in the 15 passed ministers.  What was not included was the Minister of Justice and four other ministers.  It’s unclear if these other ministers are needed for the government to be considered “official”.  In the past all 20 ministers were needed to move forward.  Stay tuned for the significance of this accomplishment and what it means for the dinar.

Mountain Goat – Dinar Guru   Don’t worry what the exchange rate of the dinar is in Iraq.  …The CBI will limit the exchange rate in Iraq for reasons I will not get into today. We are ONLY concerned with the rate on FOREX and what we can negotiate with the banks. Most banks will just have a standard rate of exchange, take it or leave it. AS far as any contract rates we know that China did pre-purchase oil credits from the US and so these credits we have an opportunity to share in, if we so desire. The only way you will know for sure is to ASK when you sit down to exchange. If they can’t tell you or say they don’t know, then go to another bank.  Yes, there are going to be special so-called exchange centers, but be careful that you go to an actual exchange center and not some scam as there are going to be many of these scams at this time.

BGG ~ A couple of key points…

1) None of this is how the secondary currency markets work (here in the U.S.)…

2) There are NO SUCH THING as actual “Dinar exchange centers” – NO SUCH THING. Pure internet HOT AIR.

Dinar Investor – Jeff  …this is my opinion – the last remaining seven ministers most likely will not be needed or required for the rate change… Pompeo Tweet “…Great to speak with new Iraqi Prime Minister Mustafa al-Kadhimi. Now comes the urgent, hard work of implementing the reforms demanded by the Iraqi people. I pledged to help him deliver on his bold agenda for the sake of the Iraqi people.” …according to what Pompeo said here that the next move is the reforms which is the demands of the people.  That can’t happen without a rate change.  So based on this comment Iraq’s next move is the rate change…the news is going to go dark and quiet for the next few weeks…

Kaperoni – Dinar Guru  Many news outlets in Iraq confirming now. It is official, Kazemi is the new prime minister of Iraq along with 15 members of his cabinet. Five to seven more members will be voted on tomorrow.  The only thing that has been accomplished as a result of the Parliamentary vote today to confirm the Prime Minister and his cabinet is that it should bring a sense of stability to Iraq.  A news article surface today indicating Sadrs political bloc may have influence and control over who is the Central Bank of Iraq governor as a condition for voting for the new prime minister. We will have to see if that in fact is true but that may be significant.

Adam Montana – Dinar Guru    DJIA, S&P, GOLD, pretty much everything is up, including OIL…and that is music to our ears!  Over in Iraq, we have a “still waters run deep” situation… do you remember all the ruckus that was in the news during the short durations of the previous Prime Ministers? I’m not hearing the same level of noise right now.  Al-Kazemi, the current figurehead for the position, seems to just be on cruise control. He’s zooming down the political highway and there doesn’t seem to be much getting in his way. Of course there is talk of disruption, but what’s not being publicized is the actual progress – and there is plenty! …Things are actually really good! In spite of my current optimism, we are at a critical point – things may turn in our favor quickly, and if they are going to turn right now… it is going to happen quickly, probably in the middle of our night, and without warning. They aren’t going to give us too much of a head start, so we wait patiently and vigilantly…

Dinar Investor – Jeff  …they are not going to vote on the formation of the government until 9pm tonight…right now it’s about 4:05 pm in the country of Iraq.  We have roughly another 5 more hours to go…

(They passed the new GOI tonite)

Mountain Goat – Dinar Guru   …So the prospects of an RV sooner than later are good. …I want everyone to know I do not mean that as soon at the government is announced they are going to RV... What do we see now that is different than last week: 1)  Iraq should form their government this week, This should bring a sense of stability and security;  2)  Iranian influence is at an all time low…This is mandated prior to any reinstatement;  3)  Al-Kazimi promises to open up the corruption files meaning they could actually finally go after Nori al-Maliki and his gang of thugs… 4)  Iraq has finally managed to cut off funding to Iran via the currency auctions…through sourcing dollars now only via electronic means. This allows transparency and audits of exactly where all the money is going. So they are now abiding by US sanctions on Iran;  [post 1 of 3]

Mountain Goat – Dinar Guru   5)  Oil is on the rise, clocking in today [Tuesday] at about $30 a barrel and the day is not yet over; 6)  China wants desperately to get their stronghold inside Iraq and invest with their billions of Chinese funds and get their guaranteed oil. They want to do this in 2020 not years down the road; 7)  Corona virus is at a decline in Iraq, as they shut down the borders with Iran and are keeping them shut, for now. 8)  The CBI is already geared up to replace the larger notes with the smaller denominations. This project is huge and is the “project to delete the zeros”…this…will lead us to the reinstatement on FOREX as the global rate. We are NOT going to be allowed to exchange our dinar at the banks unless two things happen: a) the IQD is reinstated back on FOREX and b) Sanctions are lifted on the currency (probably will happen at the same time);…  [post 2 of 3]

Mountain Goat – Dinar Guru   So sooner than later may mean Jan 2021 or by some miracle we might see something this summer even. …remember there is NEVER going to be an ideal time or perfect time when Iraq is going to be a model country. …It seems for now that the finance committee and the CBI are on the same page for this to occur.  …For Iraq to go anywhere on the global marketplace it must have a globally recognized currency. I don’t even care what rate they initially come out as…Just get the damned rate back on FOREX and let the free market take it from there. [post 3 of 3]

Kaperoni – Dinar Guru  Iran apparently decided to delete 4 zeros today and introduce the Toman as the new currency.  This took parliament approval and is a LOP.  Very similar to what has been discussed with Iraq.  This is not a RV/RI but a neutral event.  We do not want to see Iraq do this…In fact, we have seen several articles in Iraq talk about parliamentary approval. Therefore, we know that is what the CBI is also considering. Parliamentary approval is not needed for traditional monetary policy.

Mountain Goat – Dinar Guru   …the news was all over the place as Iraq tried to pin down a date to vote on the new Al-Kazimi government line-up. So right now as it stands they did not yet take a vote in parliament and it will come down to…very close to the deadline day of May 7th. So we hear today they plan to vote on Wednesday. Article quote:  “The Presidency of the House of Representatives decided to hold a voting session on the ministerial program and the government cabinet on Wednesday, 6/5/2020 at nine in the evening.” Let’s see if they actually do it. Finally…

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…