Dinar Observer Daily

Larrykn – Dinar Guru    …they can change the rate at anytime even if the budget came out  …of course it came out at 1190, thats the rate today, all will change when they are ready to revalue. …they are working on getting things going, the trade deals they are working on is what they should be paying attention too, thats where the news is at, they are moving forward.

Mountain Goat – Dinar Guru  “Breaking news… The 2019 Budget is now opened”  Well, well, well…it looks like Iraq has finally opened their 2019 budget and paid out at the 1180 rate according to this article. So we all know what that means. We need to settle down, relax… This is going to be yet another end of year January 2020.  But my CBI contact was correct. They did pay out and open the budget this week. Just not at the rate we all wanted.

G-Lin – Dinar Guru   Article:  “Parliamentary Finance intends to develop mechanisms to maintain the stability of the dinar exchange rate”  Quote:  “the financial Parliament is keen to enact the law of financial administration as it gives a complete road map of the financial policy in the country in terms of management of money and cash in the state’, indicating that ‘the change will raise the exchange rate of the Iraqi dinar against foreign currencies while maintaining the stability of inflation in the country.”  I think the vote on draft of the financial administration law is huge.  This may open the door. If they vote on it or enact it, it could be what is necessary to change the value of the dinar.  They told us it will raise the value…

Mountain Goat – Dinar Guru   Article:  “IRAQI CURRENCY PASSED THROUGH SEVERAL STAGES”  Again more education going on…They are telling the citizens again not to buy or try to use the old Saddam Hussein notes prior to 2003. No smaller categories yet but the education of them is coming too. Hang in just a little longer…

Adam Montana – Dinar Guru   …the benchmark price I chose is WTI  [West Texas Intermediate], which is not necessarily “Iraqi Oil”…WTI is a commonly used price that can be used to reasonably gauge activity across various markets. Since actual daily Iraqi production and sales are not readily available, it makes sense to track another index or marker that has a more reliable report available.  As of this writing, oil (WTI) has surpassed $60 and is on a steady pace (slow and steady wins the race!) upwards. This isn’t the only thing that matters, of course. The ReValuation (RV) of the Iraqi Dinar isn’t hinged on any one item by any means! It is a culmination of many moving parts, and OIL is only one of them… but OIL is a big piece, and it’s performing exactly as we we want.   [post 2 of 2]

Adam Montana – Dinar Guru   Just a quick note this morning, because I’m bubbling with excitement over the recent progress and feel compelled to get something up here. No, we don’t have an HCL…and no, there has been no RV announcement.  But, boy howdy, talk about tracking! Iraq, the CBI, President Trump, and the Easter Bunny all have something in common: NONE of them are going to give us a specific “heads up” when Iraq is about to pull the trigger on a ReValuation of the Iraqi Dinar.  Our job here is to be informed, engaged, and prepared.    OIL is over my forecasted/predicted/anticipated mark of $60…   [post 1 of 2]

Mountain Goat – Dinar Guru   This is BIG news…more education going on. Many …might downplay this seminar but this is exactly what we have been waiting for. This was just held on Wednesday. This is NOT something from the past…how can you not get excited. Just because they are not saying everyday or any day RV this is still HUGE news. Any article on the project to delete the zeros is huge news since we know this is what is going to get us the significant increase in the value of the dinar, this increase we have been waiting so long for…

Larrykn – Dinar Guru   Article:  “Communications: Internet will improve soon”  Quote:  “The communications Ministry announced, that the reality of the Internet will see significant development during the coming period…”   these are the things I like seeing, they are moving in the right direction…less talk more action.

Larrykn – Dinar Guru   the IMF pushing them is good but we need to look at where they are at and can they rv at this time, that is the question…corruption, security, investment, are those things ready?   I don’t think so.

Mountain Goat – Dinar Guru   A scientific symposium (seminar) was held entitled “delete zeros from the Iraqi dinar” This seminar was divided into three sessions:  The first session: the concept of deleting zeros from the dinar. The second session: the expected results of the deletion of three zeroes from the Iraqi dinar. The third session: The experiences of some countries in the process of deleting zeros. Wow! Wow! Wow!  Does this not tell you something? They just held this three-prong seminar on the project to delete the zeros. WOW!

Mountain Goat – Dinar Guru   They only [way?] I know that they can liberate the exchange rate of the dinar is to put in on a float. We have read many times that the CBI will NOT put the program rate of 1180 on a float. In other words, the only way to liberate it is to reinstate it and let it float on the currency exchanges.  This is what the IMF was talking about. But we know that in order to do this means the CBI must also coordinate this effort with the “project to delete the zeros”.  These two pieces are interconnected and can’t be separated. When will this project occur? We know it can occur anytime before, during or just after the reinstatement. So no one really knows but…when we do see the smaller category notes coming out we know the reinstatement is very close at hand, if it didn’t already happen.   [post 3 of 3]

Mountain Goat – Dinar Guru   Meantime the CBI, an independent agency, stands waiting in the wings to more ahead with the project to delete the zeros. The GOI has been holding them back. Just in recent weeks we read that parliament has passed a special bill assuring the independence of the CBI. So can the CBI go ahead without the GOI?  Yes, but will they?  We know the IMF also has recently told the CBI to move ahead with “freeing the exchange rate of the dinar”. The only way I know that they can do this is to liberate the dinar from the currency auctions (put in place for sanctions).   [post 2 of 3]

Mountain Goat – Dinar Guru   The government will not be formed or even get to a vote in parliament until qualified candidates are presented and are not within the influence or a puppet of the Iranian government. There is going to be billions of dollars at stake for these reconstruction projects and those donators want to make sure they money is secure and goes towards these projects.   …We would rather stall and hold off this effort until the right people are in place that can secure the best opportunity for success. So this is the GOI standpoint…   [post 1 of 3]

Larrykn – Dinar Guru   …I believe countries will always have IQD in reserve for people that travel to their country so they can exchange it like every other counties currency…now they will hold the larger notes for 10 yrs before only having the LD out in circulation.

Larrykn – Dinar Guru    IMF doesn’t force a country to do anything, they just suggest the way to do it so the country will come out with the rest of the world...of course if that country doesn’t do what the IMF suggest then the IMF can refuse to fund that country  [Im wondering if its getting to that point now that the IMF is suggesting to Iraq to add value to the dinar right now.]  I think Iraq wants to do that …but they need a suitable conditions and stability in the country first…then you will see a change in the rate…I would love to say they are ready to come out to the world but I just can’t, at least not yet.  I’m not trying to be negative but I just need to see more coming out of Iraq that shows they are moving in the right direction first.   I’m here like everyone else to make money, if I didn’t feel we were going to I would have been going long ago.

Mountain Goat – Dinar Guru  Article:  “IRAQI CENTRAL BANK POLICIES – TO ENCOURAGE IRAQI INVESTMENTS IN TURKEY”   Quote:  “The International Monetary Fund (IMF) is therefore demanding Iraq to free the exchange rate!”  this is a WOW! article. So now we know the IMF wants Iraq to reinstate the dinar and go on a float. This is the only way they can “free the exchange rate”.   …So the IMF has approved the CBI to go ahead yet more evidence….

Adam Montana – Dinar Guru   Very related to HCL is this:  Article: “Parliamentary Energy intends to review the oil agreement between Baghdad and Erbil”  In a nutshell, the Kurdish oil production is higher than the anticipated amount… What does this mean to us? IMO, this has great potential. The Kurds have a solid argument, and the Baghdad side now has a LOT of motivation to get busy negotiating a profit sharing agreement.  That’s exactly what the HCL is.  The Kurds will also be motivated to get this moving, as they probably stand to catch a larger portion of the budget in addition to a better HCL deal. A couple years ago when they were talking about a secession, with the Kurds forming their own country – remember that? I had heard at the time from my experts that there was no real chance of that happening, but they were setting the stage for a stronger position in the big picture. That is EXACTLY what this ties into, and the HCL is what puts a pretty little bow on this whole deal. Pretty exciting stuff!   [post 2 of 2]

 Adam Montana – Dinar Guru   We’re currently in the midst of some significant happenings right now. It’s almost coming too fast to keep on top of things, so let’s just recap the current situation. …EVERYTHING oil related is cruising along at a good clip and in the right direction. …we have touched $60 a couple times this week…the real important part is the manner it is happening. Nice and steady, just how we want it… for now…   …I’m expecting to see some solid HCL news, and a potential focus on the HCL, with the RV bubbling just below the surface of the news.  …at this time…they will not give us a major heads up on this plan.  Our only clues are going to be: Stability in the GOI, which we have.;  Solid news on HCL, or an actual passed HCL bill, which is reasonable to expect under the current situation.  [post 1 of 2]

Delta – Dinar Guru  JUST IN FROM IRAQI TV: IMF IS DEMANDING IRAQ TO FREE THE EXCHANGE RATE!!!

BGG ~ Yeah, yeah… he got this from reading my post on THE BLOG the other day. Pretty easy to find.

While interesting, it was the last line from an opinion piece posted on a private FaceBook page by an economics professor out of Baghdad… not exactly official.

Mountain Goat – Dinar Guru   …hold on to your seats and don’t fall off since I am going to give you some great news today. Finally, some more breaking news in the right direction for Iraq… 1.  Quote… “The International Monetary Fund (IMF) is therefore demanding Iraq to free the exchange rate!”   This issue is now becoming imperative since Iraq is having trouble trading with its neighbors… without a real rate. …The IMF is now aggressively pushing the CBI to reinstate the IQD… 2. Quote… “Abadi revealed his decision in May 2018 to arrest former Prime Minister Nuri al-Maliki” …This DOES NOT say Maliki is already arrested. It is only telling us an intent to arrest him. Abadi has no official capacity to arrest Maliki.  Are these both issues exactly what we have all been praying for…?

Kaperoni – Dinar Guru  There will never be a RV or RI…it’s not how monetary policy works.  In order see the dinar’s value rise we need to see the CBI open the banking system, and see investment laws passed to bring investors to Iraq.  Only then can pressure come (in the form of investment) that will force the CBI to float the currency. All of this could take several more months because Iraq does nothing fast.

Mountain Goat – Dinar Guru   Article:  “INCREASE SALARIES OF KURDISTAN REGION BY “ONE-AND-A-HALF”    They are getting ready to open the budget and pay the salaries. Once they open this budget will be our deciding factor… How can they afford to increase them so high without oil revenue increases? Do they know something we don’t?

Kaperoni – Dinar Guru  …parliament has only passed 1 law in the last 6 months.  We need these critical laws passed so investment will begin to come in to Iraq.

Mountain Goat – Dinar Guru   Article:  “CBI: PROJECT DELETION OF ZEROS FROM THE CURRENCY STILL EXISTS”  Article is telling us the CBI already collected the needed amount of IQD three zero notes out of circulation and is ready to proceed but had to wait due to delay due to security events and the control of the state regulation on five provinces by ISIS.  Why would they tell us this if they were not now ready to move ahead again? Oh – but they did tell us they are moving ahead again. We just need to wait a little longer as they complete the final touches on this process. The target is still to go by the end of March. They need to pay the Kurdish salaries and other payments and benefits to other citizens in Iraq. They need to open the 2019 budget.

Mountain Goat – Dinar Guru   UPDATE ON THE ONGOING ELECTION SAGA  Article quotes:  “Faleh al-Fayyad has officially moved away from the post of interior minister…the matter will be RESOLVED IN THE NEXT FEW DAYS”   No new date given when parliament intends to vote on these positions.

Mountain Goat – Dinar Guru    IS THE CBI MOVING TOWARDS A TARGET BY THE END OF MARCH FOR THE REINSTATEMENT OF THE IRAQI DINAR?  …three articles in two weeks on the currency…Why now. We have been waiting for months with no news and now we get 3 articles. Is the CBI getting ready to change over to the smaller category notes? This is the early part of their re-education program. Remember these older 3 zero notes are to coincide with the news notes for up to 10 years.  We can expect articles to explain and show us the smaller category notes. This is what we need to really see and we will know we are right on top it.

BGG   Article:  “CBI: Project deletion of zeros from the currency still exists”   Quote:  “…the project to delete the zeros was supposed to start in 2014, but security events and the control of the state regulation on five provinces led to delay, pointing out that the project is to delete three zeros from the current currency with the introduction of large currencies and currencies Metal.”    This was printed Jan. 20th of 2019… RECENT!!

Mountain Goat – Dinar Guru   …But the reinstatement is not just changing the CBI rate.   It is a reinstatement process with many more technical issues that arise if you go from a CBI rate to a Market rate and do it in the middle of a fiscal accounting period for the year.   I can not go into all the details and many of you would not understand the adjustments to the ledgers that would have to be made from moving from a 1180 rate to a $4.40 rate, as it is a very substantial change in values.  How do you adjust and reconcile a ledger with a mix of program rate and true market rate of the dinar?  So we can see the dilemma that the GOI is in when they did not make their target for a January 2019 reinstatement. The effects ripple enormously once they open the budget and then try to reinstate later in the middle of a fiscal year.   [post 2 of 2]

Mountain Goat – Dinar Guru   Many of these intel gurus are telling you that the CBI and GOI want to reinstate the currency by the end of March. I am hearing the same and we know that the govt has not yet opened its 2019 budget…We have been told that the GOI waits to open the budget because once they do, if the reinstatement (which will include significant rate increase for the dinar) did not yet happen they may have to wait until January 2020 window again. They do not want to do this.  [post 1 of 2]

MilitiaMan – Dinar Guru   Article:  “A fine of 50 million and imprisonment for a person who hires or starts to prepare for false money”  Now this is so very interesting as they are telling the citizens don’t get caught counterfeiting coins… They don’t have any yet, but, boy are they going to! Once they reinstate that fine is massive. imo…The main point is they are talking coins!!