Dinar Observer Daily

Mountain Goat – Dinar Guru    I see that there is so much concern about the latest news about how the CBI is now setting the old dinar rate of 1190 (about 84 cents) to 1450 (about 69 cents). What is the CBI doing?  I know we all expected the program rate to get closer 1.00 from the 84 cents prior to the project to delete the zeros. So, what happened and why is the CBI doing this and doing it now? …by doing this the CBI is cutting out the spread that is made in the currency auctions and money exchangers. …by having done this it is hurting the banks and their profit margins and the money laundering going to Iran. Next, it is forcing the banks to invest in other profitable ventures and not get so dependent on the currency auction revenues, which are going to end soon.  [post 1 of 2]

Mountain Goat – Dinar Guru   Next, what was more amazing is at the same time the CBI also announced they are doubling the amount of US dollars for circulation. …The CBI is using the principle of supply and demand. …If this works, and it should, the value of dinar will rise against the dollar as the US dollar drops. Remember the dinar is on a de facto peg to the US dollar…In short, the CBI is manipulating the US dollar to get the dinar to rise…The citizens will then want to take the US dollars and exchange them back to dinars since the dinar will be worth more. The CBI is using the speculators of the US dollar to their advantage…This switch back to dinar is going to happen suddenly and without notice much like the devaluation just happened. …This is when they will issue the lower denominations and the fun begins. It’s all in the timing. Then the fun begins…I feel we will see the rate get better than the 1190 (84 cents) and closer to 1.00. This will happen all of a sudden almost with amazement and shock.  [post 2 of 2]

MilitiaMan – Dinar Guru   Article quote:  “…the bank is preparing to launch a package of measures that will achieve a shifting balance in the exchange rate for the year 2021…”   They are preparing a package of measures that will balance the 2021 Exchange rate. Well, it will not be a future devalued rate of 1460 be sure, imo!! That is to be challenged, rejected or amended. imo…

Kaperoni – Dinar Guru   …The CBI is trying to maintain stability that is a given but it pertains to the market rate and there are several reasons why stability is important… As for the official CBI rate that rate could go up if the conditions are appropriate. Over the last several years they haven’t passed the laws or created any suitable investment environment etc. so it hasn’t.    But believe me once all of that stuff is in place and millions or billions of dollars are pouring in for investment in a private sector/market economy the official rate will change via a float…

MilitiaMan – Dinar Guru  Article:  “Lowering the price of the currency .. What are its implications for the national economy?”  The adjustment to 1460 is a devaluation. They are not going into a market economy with that. They didn’t at 1190, so with the further negative adjustment they won’t either imo…the US FED RESERVE says they can…devalue and revalue. A revaluation to a supported market based exchange rate can change things quickly and on many fronts…

Tman23 – Dinar Guru  Seen the IQD devaluation on ABC news, and to take place after first of the year. Quite frankly, not a surprise or shock due to the fact Shabibi said the change to currency and lifting the 3 zeroes MUST COME AT THE START OF THE NEW YEAR and not in a quarter or middle of the year. The New Year is because banks start their books for the fiscal year and this is the only time this change can occur. A few years ago the budget calculated that a rate might be around 67 cents, today, today’s conditions might take them to 58 cents or thereabouts…Anyhow it’s all speculation but what isn’t is a change after the New Year…A positive part is now to remain anonymous, you can walk into your Bank wearing a mask and not be questioned or look suspicious!!

Dinar Investor – Jeff   Iraq just basically came out saying that the value of the dinar against the dollar has devalued…devaluing the currency, which is reducing purchasing power – it’s a last-ditch effort to squeeze the three zero notes out of the citizens.  That’s all this is…a last-ditch effort to reduce the amount of dinar in the county of Iraq…it’s nothing more than a distraction to mislead us, confuse us and to get us to get rid of our dinar..

Kaperoni – Dinar Guru  As we watch events unfold the past week in Iraq, it appears that Iraq has decided to finally float the dinar.  Today’s initial devaluation appears to be the first step in this process.  Many asked me if they floated what would the rate be?  I said…right where it is right now!  This devaluation hopefully will be the beginning of good things to come.  With the initial devaluation to 1460, it should clear the way for Iraq to launch the private sector.  And in doing so, begin to create a market economy.  The result hopefully will raise the value.  Only time will tell. The next several months should tell a story as to whether or not Iraq’s economy is going to rebound and take off. Today was the first step…

Pimpy – Dinar Guru  Article “Parliament will extend its legislative territory with the arrival of the budget next week”    Quote: “a draft of the physical budget version of 2021 which included a fixing the exchange rate of the dollar against the dinar to 1450.”  …you could buy 1190 dinar for 1 dollar.  What that means is now you could buy 1450 dinar for $1.  That’s not good.  It’s going in the wrong direction.  We need this number to shrink… 

RVAlready – Dinar Guru  [Are we till looking forward to Christmas for this to RV]  Looks like still before Christmas. The sooner, the better, I think.

David M. Witty – Dinar Guru   Iraqi Finance Ministry: the economic crisis is caused by a lack of oil imports & years of mismanagement of our economic system. We will raise the exchange rate but only once & ensure it remains fixed. We have to continue reform.

Pimpy – Dinar Guru   Article:   “Representative economy meets with the governor of the Central Bank”  It looks like they are officially going to change the rate in the wrong direction for us.  They are going to devalue it.  I don’t want you to get discouraged over bad news.  We don’t care about what they say.  We care about what they do.  So let’s see what happens.  Even if they do come out with this…I would not be fooled at all…we don’t know what the rate change is going to be.  This has happened before.  They say one thing and then suddenly something else happens…But even if they come out and they did raise the rate I would not be discouraged.  Just hang tight.  Once they start to rebound then you’re going to see the rate change go in our direction – The better direction in increments at a time. 

Mountain Goat – Dinar Guru   The exchange rates of the dollar against the Iraqi dinar in the markets of Baghdad and Kurdistan rose again after witnessing fluctuations during the past days. …The Deputy Speaker of the Iraqi Parliament, Bashir Al-Haddad, denied, on Wednesday, what was circulated regarding the entry of the Iraqi government into negotiations with the International Monetary Fund to reduce the price of the Iraqi dinar against the US dollar or the secret printing of trillions of dinars by the CBI…The CBI and the Finance Committee asserted that these rumors are just untrue…I am still hearing that the CBI plans to delete the zeros but these rumors and lies is slowing down the process…  [post 1 of 2]

Mountain Goat – Dinar Guru   …This speculation is essentially creating its own kind of FREE float using the program rate and not even on FOREX. This is dangerous and just the issues that economists and financial analysts warned us of. This is why the CBI cannot and will not put the dinar on a free float while on the program rate. …The bottom line is this – the CBI needs to pull the trigger and complete the project to delete the zeros, then move to reinstate the dinar back on the global markets…The plan is being carried out and they fully intend to move ahead with the dinar and its currency reform…It must be done and they know it…the CBI is trying to do it and they plan to do it. This is the good news…  [post 2 of 2]

Pimpy – Dinar Guru  “The Financial Committee announces the details of its meeting with the governor of the Central Bank regarding the price of the dollar”  Don’t be fooled by this…What I think they are trying to do is discourage people from buying them or to get people to turn them in.  I could be wrong.  I’m just saying this did happen with Kuwait.  They told everybody no rate change was going to happen for a while and in fact they were going to go ahead and increase it but they didn’t.  Two days later they came out Boomshakalaka! 

Pimpy – Dinar Guru    Article:   “The Central Bank is preparing for measures to achieve a balance between the dinar and the dollar”   We’ve been hearing a lot of talk about the rate change…I kind of think what they are going to go ahead and do is raise the exchange rate.  But I don’t think it’s going to be for long at all.  We don’t care about what they say, we care about what they do.  They might say they’re going to raise it and then all of a sudden BOOM they lower [Lower it is what we want to see] it’s then we’re celebrating big time.

Dinar Investor – Jeff    Article:   “The Central Bank sets a new price for the dollar starting from Sunday“  A bunch of articles have come out where they’re talking about physically changing the rate this Sunday.  Actually, ‘raising the rate’ which means devaluing the currency…They are telling you in the news they plan or intend to change the rate Sunday…Are these articles real/truthful?  Or are they BS?

Pimpy – Dinar Guru  Article:   “The Central Bank is preparing for measures to achieve a balance between the dinar and the dollar”   Even if they do increase the rate what that means is if they increase it – for every dollar right now I get 1190 dinar.  If they increase it I get like 1200 dinars.  That’s an increase.  That’s bad.  That’s devaluing the money.  That’s bad for us.  I don’t want you to get discouraged.  The fact that they’re doing anything with the rate change is good.  Even if they increase it.  It just means now we’ll start seeing some movement on the dinar.  It might be going in the wrong direction but I would not be fooled by that.  Just hang tight to your dinars…

Adam Montana – Dinar Guru   […There’s continued talk by powerful globalist groups about a possible “Global Reset”…I’m thinking…a Global RESET  COULD mean that all things come out the other end more or less EQUAL – so what could that mean for currencies?  Equal would be great, with regards USD/AUD and IQD values, right?]  Things will never come out “equal” – That’s why an RV is actually possible. Iraq lost a ton of equity/cash/value when they devalued thanks to Saddam. When they ReValue, they are just getting back to their “normal”.    [post 1 of 2]

Adam Montana – Dinar Guru  The globalist talk about a “reset” has a ton of losers, and it won’t happen. Iraq resetting their value is just one country, with a lot of winners, and not many losers. It’s a tiny event that won’t rock the entire world, even though our world will be rocked.  We are little people. Iraq is a little country, in the grand scheme. While I think a “global reset” would possibly be amazing, and do amazing things, it’s also amazingly improbable. The Iraq RV is another story. It’s likely, and it’s likely soon. [post 2 of 2]

Breitling – Dinar Guru   Here’s what’s interesting.  I want you to understand this.  Especially the pro Trump people.  You know I’m a conservative.  The people that created the Iraqi dinar are hoping that Biden gets in.  That’s Cheney, Bush Jr., Donald Rumsfeld all these guys.  Isn’t that kinda strange?  A lot of people are incorrectly thinking that if Trump doesn’t stay in office this thing is over…Cheney, Bush Jr., Donald Rumsfeld all these guys they want Biden to get in.  Completely against what I want but that’s the reality prism you need to look through…

MilitiaMan – Dinar Guru   Article:  “An economist calls for deleting the three zeros from the dinar to strengthen the local currency.”  Quote: “He added: The monetary mass can become approximately 15 to 25 trillion (billion?) dinars and the value of the new dinar converges to the value of the dollar, which facilitates the process of calculation and allows small and new denominations of cash to appear in the money market.”  The economist in the above seems to b suggesting a new dinar is to be the value of the dollar… If that is not leakage I don’t know what is. There are people on the ground in Iraq talking about the exchange rate change that is coming.  This is evidence of it too.  We know they printed a new issue of currency from the CBI site, imo. They spent money and large sums of money on it.  To adjust to or converge to the value of the dollar, they will have a need for the new issue…

Delta – Dinar Guru   This is the first time I see coordination between the parliament, the government and the CBI.  For the first time ever you see parliament asking the CBI to delete the 3 zeros and make the currency stronger. We’ve never had this before.  This is good news because everyone is lining up with everything…

Frank26 – Dinar Guru   someone says to me ‘Frank, if Biden is elected president this all goes down the toilet doesn’t it?”  As far as the Iraqi dinar monetary reform goes that belongs to Iraq and Iraq is a sovereign country.  They can do what they want…Iraq is now going to be the central financial hub of the Middle East and all the middle eastern countries will support them in a basket…

Mountain Goat – Dinar Guru    Article:  “IRAQI GOVERNMENT SETS NEW DATE FOR DEBATE ON 2021 BUDGET BILL”  Quote:  “He added that the government is continuing to hold elections on time.”   We need to all pray that the CBI moves ahead, as planned, to reinstate the dinar prior to elections in June. If not we could be waiting yet another year.

Dinar Investor – Jeff    Article: “Al-Karraji Demands The Central Bank To Adopt A Real Rate Of The Iraqi Dinar“.

Delta – Dinar Guru   …Huge information came out…the Bank of International Settlement in Switzerland is the hub of central banks…to do a contract with them is very telling for the CBI...they are moving forward to keep going with a plan.  It’s very amazing progress and all positive news toward our investment …the BIS is the one that distributes the rate internationally…this is huge by itself…

Mountain Goat – Dinar Guru   NO ONE SHOULD QUESTION THE VALUE OF THE DINAR. But there is a difference between VALUE and RATE. …Like our president has said many times that currencies are not fairly given RATES to reflect their VALUE. Either they are overly valued or undervalued and the rates do not reflect the TRUE VALUE. He wants a “level playing field”…For Iraq dinar, what we should question is the RATE as it does not reflect the true VALUE of the dinar. It is being artificially suppressed. They do not need all this economic reforms and so on and so forth. Dr. Shabibi, a financial expert who’s opinion I highly respect, was willing to reinstate the currency way back in 2013…So this entire story line of having to do all these reforms can only help Iraq but totally unnecessary in the larger picture. We wait only because of the political stuff going on right now in the US… [post 1 of 2]

Mountain Goat – Dinar Guru  …the IMF for Iraq established these currency auctions to get them over the hump from the 10 year embargo and…another attack on the country n 2003…So now they have gotten so corrupt they can’t get off of them. The embargos on Iran and taken this corruption to a new high…But the good news is the new CBI governor along with the new prime minister is going to shut down all this corruption, only the US Treasury is holding up the reinstatement of the dinar, which is needed to facilitate it. The prolonged delay is hurting Iraq as they need this change… but remember this is not as simple or clear as it seems so don’t try to pin point this to one or a couple single events to make it happen…We have insight as to what the plan is and how they are implementing it. The news is still all VERY GOOD and we will see the reinstatement much sooner than many of you think.  [post 2 of 2]

Dinar Investor – Jeff  …there’s only one thing on the table that has a direct requirement for the rate change.  It’s the payments of the reforms.  The reform payments require the rate change.   Before they can make a payment Iraq’s currency has to be internationally recognized…