Dinar Observer Daily

Mountain Goat – Dinar Guru  …This is why Iraq has the currency auctions and must continue the auctions until the OFAC sanctions are lifted. …The bottom line is the US must lift OFAC sanctions against Iraq or the banks will not be exchanging our Iraq dinars. This is something as dinar holders we all need to be aware of and look for… this has nothing to do with UN Chapter VII sanctions. These are in-addition to the UN sanctions. This is in dealing with the US banks.

Mountain Goat – Dinar Guru   What are OFAC sanctions?  The US Office of Foreign Assets Control (OFAC) is responsible for creating, implementing and enforcing the United States’ sanctions…All of the following types of financial transactions should be reviewed for OFAC compliance: Deposit (checking & savings) accounts, Loans, Credit Cards, Wire transfers, ACH transfers. …Iraq has already prepared themselves for the day when these sanctions will be lifted. But not yet.

Mountain Goat – Dinar Guru   …what is holding up the reinstatement of the Iraqi dinar. We heard news in December 2017 that…UN Chapter VII sanctions has been lifted…Many were excited and hoped this would also release the currency…that this would free up the monetary system for Iraq and allow them to reinstate the currency. But this is NOT the case and here is why. In the recent past I told you it is the US that is holding up the final steps… let me show you now how the US is involved in holding up the reinstatement of the Iraqi dinar. OFAC Sanctions…

Kaperoni – Dinar Guru    The truth is the riots and protests are escalating in Iraq. Civil unrest is becoming evident. Iraq is doing everything It can just to keep things from falling apart. No reforms, no investment and no laws are being passed.  If and when there is ever any currency reform it’ll be when the country is stable, the laws are passed to invite in foreign investment, people are working, and Iraq has something to export other than oil. Only then can the CBI create the conditions to allow the currency to rise.

BGG – Dinar Guru … It’s like watching their elected leaders play this nutty game of “political twister” trying to come up with something that will stop these demonstrations… without actually doing what the people are asking for.

I’m all in favor of the demonstrations – it’s not bad. It’s a good thing for us.

They didn’t ask for “special grades”, a few educational handouts, goofy loans for young people or a ministerial “reshuffle”… NONE OF THAT.

Two of the major things they asked for are simply being shrugged off – which is why they are back at it again today.

Item 1) They want the corrupt held accountable.

I have some thoughts as to why this point is still being stalled…

Item 5) They want the currency auctions stopped.

This has been a source of VAST corruption. If they respond to this demand, it is likely a very good thing for investors.

Kaperoni – Dinar Guru  Article quote:  “Large-scale demonstrations expected to take place October 25, 2019 after Friday prayers.”   The protests are ramping back up for tomorrow in Baghdad and throughout Iraq this could get ugly but hopefully it’ll stay civil. We don’t need more setbacks in reforms.

MilitiaMan – Dinar Guru    Article:   “The Minister of Finance signs a Memorandum of Understanding in Washington with the World Bank”   It sure looks like the Big Boyz have dotted some I’s and Crossed some T’s and it couldn’t have come in a more timely manner, especially for the INTERNATIONAL INVESTORS to kick start the party. That party needs workers not unemployed demonstrators. International Investors need a rate that is internationally accepted. …the reforms to have merit they need a rate, just as we await the depictions of the new medium of exchange to go along with that internationally accepted rate (NSCN’s, Coins and or Fils) . imo Things are very exciting and we all should be pleased to see the way it it unfolding now…imo!

Kaperoni – Dinar Guru  I hope people realize there’s no such thing as an NDA when it comes to dinar…

Mountain Goat – Dinar Guru   Taken from this site [below site link and image] on Tuesday Oct 22, 2019, Iraqi Dinar is at 84 cents sell rate (bid), but unfortunately the buy rate (when the banks buy it from you) is still 1/8 of a penny.  You can see where they are going with this currency and what the rate will probably come out in Iraq once they delete the zeros.

David M. Witty – Dinar Guru   Iraqi PM Abdel-Mahdi to address nation tomorrow, one day before planned protests.  He will discuss a number of reforms.

Mountain Goat – Dinar Guru  …We know that there are three lists of demands by the protestors. The first list included a demand to do away with the currency auctions…So, do they have plans to do away with the currency auctions any time soon?  Yes…Can this all happen any time soon? Yes, it can and very quickly if there is permission to do it…If I were to guess I would say that they are waiting for the January 2020 timeframe, as we know for sure this is the best time to reinstate the currency due to accounting issues.  The demands of the protestors might make this happen sooner than later. We just have to wait and see.

Kaperoni – Dinar Guru   [does the price of oil have anything to do with Iraq adding value?] No. The price of oil is only relative to their budget because 50% of their budget is state salaries and the rest of it is operational expenses. So having consistent oil prices is important so that they can meet their budget every year.  Iraq still hasn’t delivered the 2020 budget [to?] Parliament for review and passing. This is a unique budget because it will include a government/private sector partnership to launch the market economy which could include up to $70 billion dollars additional expenses.

Mountain Goat – Dinar Guru   5. part of the protesters demands is that they are sick and tired of promises by the GOI, finance committee and the CBI. They now want action and their demands fulfilled. This could be in our favor to pushing the US to approve the final steps of the project to delete the zeros. …The request to continue with the “project to delete the zeros” has been made many times already and it has been stalled over and over again…This project includes ending the currency auctions and using the dinar globally for trade. It also includes eventually reinstating the dinar, repegging it, then placing it on the open-market currency trading platforms and placing it on a float. This is when we go to the bank. [post 2 of 2]

Mountain Goat – Dinar Guru  what do we do know for sure? We know this:  1. to assist in developing the private sector initiatives in Iraq, they will need a viable currency and be on a level trading platform with the rest of the middle east and the world;  2.  the private sector in Iraq will not take off until Iraq brings back its currency;  3.  the CBI is ready to move ahead and has completed all banking reforms and progressed to the point of just waiting to issue the smaller of the smaller category notes at the banks;  4.  corruption along with stalling by the US government to give permission to Iraq is the down side. The US is using the reinstatement as leverage to get what it wants from Iraq;  [post 1 of 2]

Dinar Investor – Jeff   …parliament and or the country of Iraq have very little left to do to be able to change the rate.  Right now per the current facts and this can change…They only have two remaining steps.  They obviously have to finish the formation of the government and get the proxies out…They gave us the back wall to get the proxies out as October 24…October 24 is not very far away now so we’ll have to see how that plays out.  The other thing they have to do is finish and approve the budget.  Just yesterday two articles came out basically saying they they’re close to reaching an agreement…

ChrisC – Dinar Guru  More than a few people have contacted me…about what is going on with the…RV.  …I see the possibility of ending this deal this week before stuff hits the fan on Friday…IMO.

Sergio – Dinar Guru  My Conversation with the WTO …1st Question:  Does the WTO have anything to do with the exchange rate of Iraq?  Answer: No the WTO facilitates the trade of goods and services between countries. 2nd Question: What is the hold up of Iraq becoming a full member of the WTO?   Answer: …The status on Iraq is that they still have not provided a service and goods assessment. 3rd Question: Do you know anything that if Iraq becomes a full member of the WTO that Iraq’s exchange rate would go up.   Answer: I cannot say with any type of authority or knowledge that that will happen, our main position as I said before is to facilitate trade.

Sergio – Dinar Guru   Hello everyone. I have a UN update. I just got off the phone with the person who heads the communication with IRAQ. Call went like this…i have a question on Iraq Chapter 7 and their currency. …I said I wanted to know if Iraq has to come out of chapter 7 before they can have a tradable Currency?  He said NO!!  I then told him I was told by a person in the UN before that they would have to come out of Chapter 7 – he said the person gave me the wrong answer…

Larrykn – Dinar Guru   Article:  “Sadr urges protesters to take back to streets on Friday” The demonstrators might be the key to what we want to see...the pressure is on now…what Sadr says will come to be most of the time, so lets see what happens.

Francis Albert – Dinar Guru  Some believe that Iraq is Sovereign and the GOI and CBI can do what they wish. This is just a short paragraph from Sadr’s Friday address to the mosques.  “…They all know that they have surrendered to those outside the border and that they will not be able to make any decision without their consent,”

Larrykn – Dinar Guru   I think it will happen or I wouldn’t be here. The question is, when and what year.  I was hoping that the protests would turn in our favor but no one would know what Iraq will do. They surprise us all the time.

Sergio – Dinar Guru   I devoted so much time in contacting people all over to get info from the WTO IMF Trade Bank Bank Presidents I was on a mission. And what it all came back is The CBI is the one who decides.

Kaperoni – Dinar Guru   …I’ve never said Parliament sets monetary policy. But Parliament passes laws and they can pass a law to remove the zeros off the notes or change the value of the notes. Like all countries that Redenominate their government must pass a law first. …We don’t want Parliament involved.

David M. Witty – Dinar Guru   Iraqi protest coordinators delay planned 25 October protests until 22 November & give government 30 days to amend the constitution.

Mountain Goat – Dinar Guru   Article:  “POLITICAL DIFFERENCES STILL CONSTITUTE AN OBSTACLE TO THE LEGISLATION OF THE OIL AND GAS LAW”   I keep telling everyone that the oil and gas law is imperative to getting the reinstatement of the Iraqi dinar. So, here is yet another article telling us the importance of it.  I especially like this last statement and I quote – “stressing that the law, if approved, will join the sale of oil in terms of economic return”. Funny how this law comes up whenever we are in a period of time when we think that perhaps the project to delete the zeros might take off soon and be completed.

Kaperoni – Dinar Guru   An article…last evening indicated that Parliament will get the 2020 budget by the end of this week to begin review.   …also…an article…stated that on October 26th is when they’ll vote on special grades that has been postponed from the 24th. This is an important date for all as it pertains to CBI governor.

Mountain Goat – Dinar Guru   So, where do we stand today on getting this reinstatement of the Iraqi dinar?  We know that in order for Iraq to be successful financially and economically at the level they desire, they will soon have to reinstate the dinar to the global currency exchanges and trade their currency openly. The ISX does not trade currencies but getting the ISX hooked into the NASDAQ system certainly is a plus and speaks volumes of where they are heading. There are now plans to go ahead again as the CBI and the Finance Committee has told us many times already this is their plan. Remember the article in early 2019 telling us they plan to complete this currency reform in 2019?  But when will they finally move ahead with the next stage, that of the implementation of the project to delete the zeros?   We know that the coins and the smaller of the smaller category notes are already staged at the banks and ready for use. How long can the banks tie up this money without using it to benefit the bank’s profit margin?

Dinar Investor – Jeff  …there are two things that have to happen for the rate to change.  The first one is Iraq must finish the formation of the government…they’ve put that into hyper-speed since the demonstrations …There’s a good chance they could have that done by the end of the year…they just have to get the proxies out and do a cabinet reshuffle…the other thing we are waiting on is the 2020 budget.   The reason why?  First off lots of monies in this 2020 budget being utilized for the rate change…it will have Article 140 in it.  HCL, those are monies that will be given back to the citizens…they could finish the budget around February…

Kaperoni – Dinar Guru   …the IMF is part of the United Nations. There is an agreement with every member country that they will follow the directives as a member. But Iraq is different as well because in December of 2015 they signed an agreement known as a standby agreement with Iraq to allow the IMF to be trustee over the CBI. If you look up the definition of a trustee you will see that they have control. And as a result, significant progress has been made at the CBI over the last few years in many areas.  I’m sure they can make a move without the IMF but Iraq is an emerging market and they want to be part of the UN and they want to be part of the IMF and they want the world to do business with them so it would be probably foolish to make a move of any kind without consulting with the IMF first.

Francis Albert – Dinar Guru   I have no sources, just a pretty good understanding of finance, Central Banking etc. and there’s no way one can objectively look at the actions of the CBI over the past few years and especially the past six months, and come to any other conclusion that there’s currency reform underway in Iraq…everything they’ve done and are doing as we speak is just what investors in this want to see.