Dinar Observer Daily

Frank26 – Dinar Guru   Article:  “Halabousi receives Assistant US Treasury Secretary”  “The meeting was to enhance the prospects of cooperation between the Iraqi and American banks, and the need to develop the Iraqi banking sector and economic reforms through the activation of electronic systems in the exchange of cash…”

Tman23 – Dinar Guru   Surely every IQD holder knew the Shia militias were a problem and that means IRAN…Last post I made was that on May 6th there was to be a huge transfer of funds paid to US by China. Then out of left field China backed out and change the terms as news reported. …follow that up with 700 rocket attacks on Israel in one night followed by intelligence of the Iranian threat to US assets. For those that follow the future of China and ‘Silk Road” you know of the potential role Iraq plays.

 Mountain Goat – Dinar Guru  What does Sadr mean when he says “to give the people back their wealth”?  What he means is this. Supposed someone had 2 million dinars before Oct 2003 worth a rate $3+ per dinar (when they decided to convert to the new large 3 zero notes). That was over 6 million US dollars. This 2 million them became almost worthless overnight as the value decreased to about $2,000 US dollars. So, what Sadr is saying is that the people need to regain the value they lost and get back at least their 6 million dollars. Get it? Sadr is not speaking so general as most think. He is very specific in his thinking on this topic…  [post 2 of 2]

Mountain Goat – Dinar Guru   …Moqtada al-Sadr spoke in parliament and stated that he wanted the promised reforms and the “wealth of Iraq given back to the nation”.  He is putting pressure on parliament and the GOI to get the reinstatement of the currency, something which is way overdue. There is no reason for this process not to take place other than the corruption going on with the currency auctions and now maybe the Iran fiasco. …To coincide with Sadr’s efforts we need to watch what the CBI does. They must find a way to curb the corruption in the currency auctions and move ahead with the project to delete the zeros.  [post 1 of 2]

G-Lin – Dinar Guru   Article:  “Agenda of the session No. (22)Thursday, May 23, 2019”  Quote:  “First: Vote on the draft Financial Management Law. (Finance Committee).”   Vote on FML Thursday I hope.

MilitiaMan – Dinar Guru    Another thing to think about is that Alak is the Vice President now of the AMF and will get the seat as President in the next Session.  Are we to think he got all his awards, has his name on the new money and gets the nod for highest position at the AMF, second possibly to the IMF with out lifting the value of the IQD?  No, He is not going to bring a program rate to drag the other countries down. He will bring value and expertise to the regional trading partners. Lets not forget the amount the AMF exchanges at… It is not a program rate I assure you all imo!  …I agree with many others, they are telling us darn near every step they have made. Just not cut and dry as many may want.. But they are.. No delay, just finishing up final touches. imo.   [post 2 of 2]

MilitiaMan – Dinar Guru   [Referencing WTO Document]   … The part where it says they are members and their status is complete is interesting!  Thereby, imo when they lift the exchange rate to trade they, us…as in you and I, the ITB, etc.., will be able to exchange in an international level. Until that happens we wait.  …They will not ever trade internationally at a program rate, nor will they open an operational international Bank in a foreign country using Iraq Dinar with out a significant rate change to reflect international standards and valuation.   [post 1 of 2]

Breitling – Dinar Guru   If there’s lack of information for a couple weeks I’m not shaken and neither should you.  Regardless of what everyone else has said or what they thought about the dinar, their opinions.  We still stand on the Iraq’s parliament specifically went and said to the Minister of Finance, The Ministry of Planning, the CBI and the IMF, ‘We want to get the value of our currency to $3.25.  First we want to get it to a buck then we want to get it to $3.25.‘  That language has not once changed. [Post 1 of 2]

Breitling – Dinar Guru  So you can get all the people with the PHD’s or whatever background and whatever bull$%&* they wrote and everything else, they will never ever be able to get around that.  They just simply can’t do it.  Their opinion does not count.  My opinion actually does not count…that’s [what parliament said] never been taken off the table and it never will.  It just keeps advancing.  Sometimes it might not be as fast as people want and I understand that.  If you thought this was a ‘get rich quick scheme’ then obviously you were wrong.  So here we are.  It’s a great great opportunity. [Post 2 of 2]

Breitling – Dinar Guru    “…Am I reading this correctly?” Absolutely.  That’s exactly what it is.  It’s a major major deal for us.  But before you get too excited remember it doesn’t say when they’re going to do it and they don’t give us a clear date on the revaluation and all that stuff…Is this a big mess or what?  No not at all!  If you understand the importance of that [Financial Management Bill] then you’re going to be very very happy.  For some people it’s too technical and it won’t sink in but it’s a phenomenal position to be in for us and watching what these guys are doing.  So they’re moving forward. [Post 2 of 2]

Breitling – Dinar Guru   There is massive phenomenal news coming out of Iraq…article “The Finance Committee rebuild the of the draft for the Financial Management Bill and announced the establishment of a mechanism to pay off foreign debts warn the committee on the economy and investment to double the value of external debt because of the benefits of them.'”  –  Question – If I’m understanding correctly they’re talking about making sure when the rate changes they won’t overpay their debts.  So they’re changing all their rates on their debts.  This was the law the CBI was talking about a year ago that needed to happen before they could change the rate...‘    [post 1 of 2]

Mountain Goat – Dinar Guru   Article:  “CENTRAL BANK OF IRAN WILL LAUNCH ITS NEWLY-DEVISED INTEGRATED FOREIGN EXCHANGE MARKET NEXT WEEK”   …this “unified currency market” is of course a tactic from Iran in order to circumvent the US sanctions.    It will be interesting to see how this all plays out in relation to Iraq and the reinstatement of the dinar, which we all have been waiting for so long.

Adam Montana – Dinar Guru   Oil is still strong above $60.  Remember I said months ago that $60 was the target? Target reached, stability is being proven on a daily basis, and that is perfect. Any huge spikes or drops would be bad. OIL is solid right now… even with some tensions in the Middle East. This is exactly what we want…It’s definitely Ramadan, but I’m still keeping an eye on things. The current situation is just too close to ignore the possibility that things can happen this year despite the normal holiday lull.

Larrykn – Dinar Guru   […2020…we will be lucky to see it then.]  the way they are moving, I just don’t know.  Alak was brought in by Maliki, I’m wondering why he is still here now. I was thinking they would have gotten rid of him when Adabi was around.  [I know…he is stealing money thru the auctions…like crazy]  and that is why I say they need to stop those Auctions…when they do we will see the RV.

Mountain Goat – Dinar Guru   Reconstruction:  We can see…that in Kurdistan region that they are moving ahead with the continuation of the construction of the high-rise buildings.   …Today they are moving ahead with these projects once again building housing units and buildings for businesses. Many of these buildings from 2008 are not completed and occupied already. Many more are being constructed.  Kurdistan is not some backward area in the desert. It is a civilized sector of Iraq that is moving ahead into this new century of modernization very quickly.  How can they continue with a currency worth just an 8th of a penny?   [post 2 of 2]

Mountain Goat – Dinar Guru   Article:  “IRAQ’S OIL MINISTER DISCUSSES PLANS TO STRENGTHEN ITS OIL INDUSTRY, DIVERSIFY ITS ECONOMY AND ATTRACT FOREIGN INVESTORS”  We know that 80% of Iraq’s economy is dependent on imports from Iran. Two of these major imports are electricity  and refined oil products.  OIL:  In the coming years Iraq has plans to be gas and oil (refined gasoline and diesel fuel) independent from Iran and other suppliers. The oil ministers says Iraq is trying to break away from the dependence on Iran for the supply of these items… ELECTRICITY:  We know that the German firm, Siemens and the American firm, General Electric both have major contracts with Iraq to bring up the war torn electric grid…  AGRICULTURE:  We also know that Iraq is working hard at being independent on agricultural products…  [post 1 of 2]

MilitiaMan – Dinar Guru   Article:  “Financial inclusion and sustainable development”  Quote:  “…it is very clear that there has been a positive change in the scene Financial and Monetary For the Iraqis, after the launch of the strategy of the Central Bank, and indicators of this positive change…”   ...The lack of trust for the Banks is gone now or at least significantly diminishing.  They significantly increased the financial coverage and it is still growing. They have been successful in getting the citizens into the banks with large sums of chunky money.  …once they collect the chunky, they will need to issue the smalls.  Hence the ATMs will need them, as will vendors of money (greenery?), shops, barbers, restaurants, etc…Don’t forget they say this started about a year ago imo, more than that!!

Delta – Dinar Guru   Article:   “Economist: War on Iran raises the value of the dollar in Iraq…”   Quote:  “The outbreak of war on Iran, regardless of the position of Iraq, will have an impact on the Iraqi currency to increase the value of the dollar in front of it,” said Smeisem, “indicating that” fear of the unknown will increase demand for the US dollar, which will raise its value compared to the Iraqi dinar and thus lead To a decline in the value of the dinar».”    MORE GOOD NEWS FOR US ..THEY HAVE TO ACT FASTER NOW…

Larrykn – Dinar Guru  …Iraq needs to get away from the auctions. to much corruption in it.  If Iraq could ever agree with each other and get politics out of the way, they might get something done…time will tell if their able too.

Chattels – Dinar Guru   Article:  “Foreign currency markets in Baghdad recorded a stable dollar against the dinar on Sunday, reaching 120,000 dinars on all local exchanges.” I think that it is accurate to observe that the market price on the dinar is increasingly now uniform in all Iraqi markets.

Delta – Dinar Guru   Article:  “The parliamentary economy warns of the doubling of external debt because of the benefits … Finance Committee reveals the “Zora” details of the Financial Management Law and announce a mechanism for debt repayment”   Quote:  “…committee awaiting the report of the Economic Adviser to the Minister of Finance Kamal Al-Basri to put the finishing touches on the law to be ready for legislation.”  THEY ARE WAITING FOR THE RATE…   RATE WILL COME FIRST BEFORE PASSING THE LAW…IMO.

Chattels – Dinar Guru   We are now almost one year and counting on the formation of a completed government / cabinet in Iraq.

Kaperoni – Dinar Guru    Floating the currency is not a requirement but with the influx of capital expected through Iraq’s banking system it will create inflationary pressure.  If they don’t float inflation will start to rise throughout Iraq.  Floating the currency is a tool the CBI uses to counter inflation.

MilitiaMan – Dinar Guru    This reform is not just about us, it is about effecting the lives of not only millions of people but, billions of people! imo.  Everyone knows Iraq is ready now. It is imo go time now. The King of Saudi Arabia, imo gave his blessing to have the Iraq Trade Bank be the first International Trade bank for Iraq to show case on his soil.  I highly doubt that they miss that time line. Big money doesn’t like to wait long. They would most likely also like to see stability with the Iraq Monetary reforms prior to the opening of said international branch.  I don’t believe in what I see they have any intentions of being late to the party. Alak has the keys to the AMF. Lets see what happens with the trade deal in the short term while we watch the next move.   [post 2 of 2]

MilitiaMan – Dinar Guru  Article:  “The International Monetary Fund sets out 3 structural measures to reform Iraq’s finances, including wages and electricity”   …they are not only involved now during the process but have been very active in the implementation phase we are in now.   …My view is this was ready to go yesterday, and it still is today through the opening of the Iraq Trade Bank by or around mid May.   Imo The Futures market this last Sunday and other markets reflected a move by the USA in the trade deal realm and that was a clear shot across the bow to China, imo.  Now we see the key player coming back to the table at the end of the week…   [post 1 of 2]

Mountain Goat – Dinar Guru   …this is still a MAJOR concern since Sadr gave Mahdi until June 1st to form the government. The question is does he have enough support to hold a “no confidence” vote and change out the PM?  There is no firm target date to vote on the remaining 4 ministers. We still wait for any more news

Larrykn – Dinar Guru   Article:  “In response to a request by the Anti-Corruption Council .. Baghdad today announced its readiness to provide documents reveal a major smuggling of money through the sale of currency auction”  they really need to get rid of those auctions.   […auctions appear to be the center of underworld.]  they always have been, until they get rid of them they will always have corruptions and that is why they need to revalue their currency and only have the dinar in their country.

DELTA – Dinar Guru  Article:  “The Minister of Oil: Very soon we sign the project of southern Iraq integrated”   Quote:  “Oil Minister Thamer Ghadhban said on Wednesday he expected his ministry to sign a preliminary agreement with ExxonMobil and PetroChina of China “very soon,” but gave no exact date.”   YES IT’S A DONE DEAL…CONTRACT FOR 30 YEARS WORTH 35 BILLION DOLLAR 

BGG ~ I don’t think this number is quite right – but the right numbers are easy to find (in the public domain)… it’s a WAAAAYYY bigger deal than 35 Billion (as I recall).

Mountain Goat – Dinar Guru   This means the need to reinstate it and put it on the planned “free float” just like all other currencies on the open trading platform. The IMF wants the investors to drive the rate and keep it stable. They say that Iraq is now ready and so why are they waiting? We know why they are waiting.  It is due to all the corruption in the currency auctions and the reluctant to end them, as they are today...  [post 2 of 2]

Mountain Goat – Dinar Guru   There is talk that the PM Mahdi has said he will reinstate the dinar by June 1st.   I have absolutely no evidence that he has said this. Yes, indirectly he has made reference to the economy getting better by June but this could mean lots of things. He also said the ministers would be competed by June.   …But we do know the IMF wants Iraq and the CBI to move ahead and reinstatement and “free their exchange rate”.   They have said to directly to the government and this was reported by the news media.   [post 1 of 2]