Dinar Observer Daily

Dinar News Update –  The 2019 Iraqi Budget was officially signed into LAW on Monday. Article: “The budget for Iraq for Fiscal Year 2019 officially became law on Monday with the signature of Iraqi President Barham Salih.”  This is a milestone that needed to happen for Iraq to be considered a functioning country.  Stay tuned as the gurus chime in on the importance of the budget law to a possible increase in the value of the dinar...  The latest guru posts will continue below.

Kirk H. Sowell – Noted Author   So after a long delay, today [Monday] Iraqi President…signs the 2019 budget into law. The delay was due to parliament wanting to make amendments to the budget after it was “passed” on Jan. 24. They just sent it to Salih two days ago.

RVAlready – Dinar Guru   About the only thing Trump has ever said is that prosperity is coming. Just as Bill Clinton never mentioned Kuwait in public, I doubt that Trump will ever mention The Iraq RV in public….. There are …people who made good money from the Kuwait revaluation, but it was never announced in public.

BGG ~ This is not realistic commentary… it implies some corollary between President Clinton, the Kuwaiti Dinar reinstatement and President Trump and a potential Iraqi Dinar move. Nothing could be farther from the truth. In fact, we have PLAINLY published the FACTS surrounding the Kuwaiti reinstatement over and over and over. It was nothing like the various rumors portrayed on the internet ( #FAKENEWS ).

Any comments made by President Trump regarding prosperity are tied directly to his policies and have nothing to do with any future value change of the Iraqi Dinar. Value change or no – the math just doesn’t add up. A massive change in Dinar value doesn’t even bump the needle of the US financial engine.

Mountain Goat – Dinar Guru   I do find is weird how the CBI has NOT given us an update on the “project to delete the zeros” for over three months. They normally give us an update each month. So we can expect one soon. We know for a fact that the CBI has already contracted with a German firm to print the smaller category notes. Also the coins are already stamped are waiting for distribution. So this is VERY close.   What are they waiting for to finally launch the reinstatement?  I believe it is political stability (get govt fully formed) and the elimination of the harmful Iranian influence (in the govt matters).   [post 2 of 2]

Mountain Goat – Dinar Guru   …It is like we are in a holding pattern, ready for takeoff but just not yet. The CBI has not given any indication whatsoever of targeting a reinstatement this week or any day soon. But we know it is waiting in the wings. I am waiting to see how this all plays out with the completion of the election process. We know from a recent article that completing his process is VERY important for the CBI as it can demonstrate STABILITY or INSTABILITY, depending on what direction it takes.  [post 1 of 2]

Adam Montana – Dinar Guru   …I’ve been on hold all week regarding this HCL news.  It hasn’t fallen through, and that means it’s possibly going through…With any luck, this HCL news is going to materialize…Fingers crossed!

MilitiaMan – Dinar Guru  Articles:  “ASSOCIATION OF EXCHANGE COMPANIES IN IRAQ ASPIRATIONS AND CHALLENGES”; “The House of Representatives sends the Budget Law to the Presidency for approval”   Tomorrow is the beginning of the week.. The money ex-changers are going to need the rate, that rate also precedes the budget.. They clearly have this timed.. Today the articles about Jordan, money ex-changers with NGSs to help facilitate the implementation of the new.. All very well timed.. It won’t stop now nor fail imo…

Mountain Goat – Dinar Guru   [I’m still confused how/why they tried to RI without the gas law and the full government seated, as you have stated several times we need?]   HCL is in parts. Most of it already passed but not implemented to the level it should.

Adam Montana – Dinar Guru   Question: Is Iraq going to “lop”?  Iraq has already made strong progress in rebuilding and obtaining international credit. They do not have an emergency situation, like Zimbabwe or Venezuela. In fact, Iraqs international credit is rated across the board as “B grade” and “Stable”.  Iraq has already made tons of progress here. A lop is not going to enhance that. The CBI already controls the currency market. There is no need for further action.  Iraqs most recent inflation was measured at about 2% – almost identical to the United States. We are not talking about Zimbabwe here!  Multiple currencies are used in Iraq, but there are no threats of replacing the Iraqi Dinar…Since 1960, only 71 cases of lopping have occurred…None of those countries are Iraq, have Iraq’s resources, have Iraq’s potential…Pretty solid evidence that a lop is a pretty low probability event for us here, don’t you think?

Adam Montana – Dinar Guru   …these things are:  1.  RV (ReValue)  2.  Lop (remove some zeros, either from the exchange rate or the denominations)  3.  Nothing.   …my opinion of our possible outcomes in this situation is this: 79% chance we see a change in the value upwards in the near future. 20% chance they do nothing other than maintain the status quo (for now). And a slight 1% chance of a lop. Personally…I like love those odds, and I’m sticking it out. I’m also preparing for the eventual change in value…  [post 2 of 2]

Adam Montana – Dinar Guru   Question: Is Iraq going to “lop”? In the case of Iraq, one of 3 things is going to happen eventually, with “eventually” being either immediately, next week, or maybe a year from now. There is no “deadline” that they are bound to, nor will there ever be one in the current political and economic climate. Certainly there will be factors that could encourage Iraq to move faster or bide their time, but there is no entity or force on the planet that can force Iraq to make any changes to their monetary policy. Like I said at the start, Iraq will do one of three things…   [post 1 of 2]

Kaperoni – Dinar Guru    Several articles have surfaced the last few days implying Iraq plans to open their economy to the world in the ‘next phase’ or ‘next stage.’ I caution those who think that may be within a week or so.  It still could be months. Iraq still has numerous laws to pass or make changes too to invite investment. Parliament is on a break and the next session may not be enough time to pass the needed legislation.  A critical piece of the puzzle is coming up February 10-11.  Iraqi Finance 2019 could give us some needed time-frames as Iraq continues to transition to a market economy.

Mountain Goat – Dinar Guru   Article:  “REVEALED: REASONS FOR DELAYING THE MOVE TO IMPROVE THE INVESTMENT ENVIRONMENT AND THE PRIVATE SECTOR IN IRAQ”  Quote:   “delayed DUE TO CONCERN ABOUT THE ELECTIONS AND AFTER THE FORMATION OF THE GOVERNMENT,” stressing that “in the coming days will witness the actual beginning of the application of these procedures.”  …this…paragraph …is probably the most important of all.  So we just have to sit tight and wait to see what they do.

BGG –   …IMF Article 8 and UN CHAPTER 7 are completely different issues. UN Chapter 7 was a series of UN sanctions stemming from the Gulf War era… IMF Article 14 is a set of obligations and responsibilities which Iraq has accepted and complied with (monetary policy wise) – Once they demonstrate they are fully able, they should accept and move on into Article 8 (from Article 14) – which is a different set of responsibilities and obligations. All of which will be done with IMF oversight and guidance.

MilitiaMan – Dinar Guru   Article:  “The next stage will witness great economic openness on the regional and global environment” Quote:  “the most important items that were added to the law of the general budget 2019, and is likely to arrive in less than two days to the government and the Presidency of the Republic for ratification and start to apply.”  No going back from here imo. We are going to get paid. imo. Lets keep in mind the article suggests the Ratification is within two days…real close… imo.

Phillyman – Dinar Guru   Article:  “Abdul Mahdi: The next stage will witness a great economic openness to the world”  Quote:  “For his part, Abdul-Mahdi said that “the next phase will witness great economic openness on the regional and global environment. Within two days, an important agreement will be implemented with Jordan on the export of oil and the opening of Trebil.”   …I continue to follow the news and believe that Iraq despite its battles with corruption and the conflicts in the region is going to make major moves forward economically.

Adam Montana – Dinar Guru   We’re on the cusp of a good number of significant possibilities, so I’m not ruling anything out…we have some REAL good news coming soon…Good things come to those that wait, and it’s looking like we’ve all waited about long enough… things are coming for us.

Kaperoni – Dinar Guru  …UN chapter 7 is different than IMF Article VIII.  Iraq is in IMF Article XIV and from there they will move to VIII.

BGG ~ Common Dinar community misunderstanding/misstatement…

IMF Article 8 and UN CHAPTER 7 are completely different issues. UN Chapter 7 was a series of UN sanctions stemming from the Gulf War era… IMF Article 14 is a set of obligations and responsibilities which Iraq has accepted and complied with (monetary policy wise) – Once they demonstrate they are fully able, they should accept and move on into Article 8 (from Article 14) – which is a different set of responsibilities and obligations. All of which will be done with IMF oversight and guidance.

Currency365 – Dinar Guru   I would love to see something done with the CBI and the rate change before the American troops leave…I don’t want the troops to leave before the rate change…We made that mistake the first time and we know what happened…if someone can take this back to Donald Trump…we do not want the troops to leave until they have completed the mission by removing the program rate and raising the value…giving them purchasing power and distributing the oil revenues to the citizens…they were supposed to have done that already…they have not held up their part of the bargain…

BGG ~ It is highly unlikely the U.S. troops leave Iraq anytime soon. This is Iraq – not Syria. Just because Sadr rattles once in a while about the U.S. doesn’t mean it’s a reality.

Frank26 – Dinar Guru   [via Clare]  Article:  “Ascension of Iraq to the International Organization of Securities Commission”   Welcome to the World Iraq!!!! (since Jan 1)…

Kaperoni – Dinar Guru   Militiaman thinks they may float the dinar…Actually the truth is no RV at all. Not possible.

BGG ~ I’m betting… and this is just a guess on my part. The CBI and Iraq won’t ask MilitiaMan OR “Pepperoni” what they think once the final decision is made to do whatever it is they have planned…

Mountain Goat – Dinar Guru   Article:  “FIVE-POINT PROPOSAL AIMED AT REMOVING FOREIGN FORCES FROM IRAQ”  …just remember that it is the Iranian influence who is constantly pushing Iraq to get the US out. …I keep telling everyone that this influence must be gone or no RV. I have said this many times and so in this why the NSA pulled the plug on the RV a week ago?

BGG ~ Wait… What?!? Really?!?

Jester – Dinar Guru   […is this MR going to happen this week? Monetary Reform]  I DO NOT SEE ANY INDICATION THAT WE WILL BE MOVING FORWARD THIS WEEK… EVEN THOUGH MANY WOULD LIKE TO SEE IT THERE IS STILL TOO MUCH CONTROVERSY IN THE BANKING SYSTEM FOR ANYONE TO THINK IT IS ANYWHERE NEAR SAFE AT THIS POINT…UNTIL THIS IS TAKEN CARE OF I DO NOT THINK WE WILL SEE A DARN THING HAPPEN…

BGG ~ Sounds like Jester needs some new “contacts”!!

Mountain Goat – Dinar Guru    We also know of the reconstruction plan 2018-2022 and so when will they mount up and move ahead aggressively with this plan? We are now seeing some signs but this money for these types of projects is coming from oil revenues and not donor nations or investors (electric grid, water plants and sewage). But remember you need to rebuild the infrastructure first before you can rebuild the buildings. So this is a promising sign.  So now is a waiting game. We just sit and wait.   [post 2 of 2]

Mountain Goat – Dinar Guru    I am not hearing anything from the CBI on a matter of completion of the project to delete the zeros. With only three days remaining in January I doubt if we are going to see any RV this month.  I do not have another window of opportunity for you. Like you I am very disappointed we did not yet see the RV. …I do know that the US NSA stopped it on Jan 19th probably due to SECURITY reasons with Iranian influence in the elections. The three remaining ministers still have not yet been voted on. They are now fighting to get the Iranian militias out of Iraq. Since ISIS is now gone and the US is helping to protect the borders keep them out, there is no use for these militias any longer to occupy Iraq.   [post 1 of 2]

G-Lin – Dinar Guru   Article:  “The text of the Federal Court’s appeal of articles in the law of the National Oil Company”  That last art. happened last Wednesday. It was pretty darn important. The National Oil Co. was trying to withhold the oil share money from the people of Iraq. Keep it all for themselves. The Supreme Court ruled the amendments unconstitutional. YAY!!! 

Sunkissed – Dinar Guru  Article:  “Accession of Iraq to the International Organization of Securities Commissions”    That’s STOCK MARKET talk! — SECURITIES!   How can one be a MEMBER of the IOSC without a convertible currency?   It would be like buying tires and you don’t own a car!!   Why be invited to the annual meeting in May if you won’t have a convertible currency?    Could THIS be what Iraq was waiting on?

Delta – Dinar Guru   […From all of your research and contacts, what do you think about volume of dinar now compared to Saddam’s time?…]   IMO  THE NOTE COUNT IS NOT AN ISSUE ANY MORE…. CBI IS READY AND TOLD US THEY ARE PREPARING TO LIFT ZEROS.  IT DOES LOOK GOOD…IT’S NOT AN OPTION …THEY MUST DO IT…

MilitiaMan – Dinar Guru   Article:  “Association of Private Banks will participate tomorrow (Sunday) in the meeting of the Arab Monetary Fund”  Quote:  “the meeting will address the concepts of financial inclusion and ways to raise the rate at the level of the Arab world”    Sure sounds like what we were told by WS in the past. AMF / AAD – IMF – SDR is at play. The IQD maybe forced to float in a basket of currencies. Well, interestingly enough not only is it in ink from a recent article, it has been verified by those in Iraq that would need to know to be a true statement and that may be exactly what we will see out of this.  The decision makers for the Finance Conference 2019 in February will be needing the results of the new formulated numbers from the 2019 Budget as in international rate (imo), just as the Arab Monetary Fund will.  So I hope we all can see the sense of urgency at play now. The crunch time is seriously upon us and them… imo.

Delta – Dinar Guru   […From all of your research and contacts, what do you think about volume of dinar now compared to Saddam’s time?…]   IMO  THE NOTE COUNT IS NOT AN ISSUE ANY MORE…. CBI IS READY AND TOLD US THEY ARE PREPARING TO LIFT ZEROS.  IT DOES LOOK GOOD…IT’S NOT AN OPTION …THEY MUST DO IT…