Dinar Observer Daily

Delta – Dinar Guru   VERY INTERESTING NEVER SEEN THIS BEFORE…
Iraq customs
Apply for visa
Free import
• 200 cigarettes or
• 50 cigars or
• 250 grammes of tobacco
• Up to 1 litre in wines or spirits
• 500 ml of perfume in two small opened bottles
• Up to 25 Dinars can be imported and sums no greater than 5 Dinars can be exported out of the country.
[…with program rate on dinars why bother with the export of dinars or import of dinars.]   […the CBI still says 1190…]  IMO NOT FOR LONG…

Dinar News Update   The CBI has crossed the 2% for 90 Days rule for the Iraq Exchange Market.  The CBI had accomplished this for the Baghdad Market last summer.  The CBI began reporting the Iraq Market rate on November 14, 2019 which included three decimal places.   Some feel these rates must be within 2% of each other before the IMF can consider the dinar for Article VIII.

Mountain Goat – Dinar Guru   Article:  “THE FUTURE FATE OF THE IRAQI CURRENCY AUCTIONS”   …these currency auctions are doing more harm to Iraq than good. They are no longer necessary and outlived their usefulness. They were supposed to help Iraq get through the sanctions but apparently now they are helping Iran through their sanctions using Iraqi funds. …when the CBI tells us there is still POLITICAL INSTABILITY and ECONOMIC INSTABILITY this is what they mean. So now we get some insight as to what they have been saying all along. We now know the situation as to why the NSA stopped the RV twice in January. [post 1 of 2]

MilitiaMan – Dinar Guru   Article:  “Customs: We will begin the unification of customs procedures at all ports as of tomorrow”    …They moved it up from the 17th, so for those that suggest Iraq is always late, they in fact this time early… I love that pattern change.. Bring on the lifting of the exchange rate with no lag time.. lol    …Then we await the lifting of the three zeros from the exchange rate, thus, CBI should be screaming at us…lol.

Delta – Dinar Guru   Article:  “Customs: We will begin the unification of customs procedures at all ports as of tomorrow”   Mawazine News.  published the new pricing of customs in all ports of Iraq custom base on international code…pricing base on international code.

MarkZ – Dinar Guru I am still hearing there will be no taxes on Dinar and dong exchanges…There is a tax treaty involved with this.  …Waiting for news out of Iraq…hopefully we will hear by tonight. Expecting to see news from [Guru] Frank26…he is the best source on Iraq…expecting a whole lot out of CBI today…I am also hearing there will be great security at the bank..and in the parking lot…I am not worried about security…There is a good chance I will be doing another update today.  Based on what I’m hearing and reading…As far as rates I am hearing street rate dinar 4.43 dong..2.20 to 2.25. Hopefully I will know more later today…

BGG ~ I would be VERY, VERY cautious with information such as this. This IGNORANCE will get someone into DEEP trouble with the IRS.

Mountain Goat – Dinar Guru   Article…December 10, 2014:  “RAFIDAIN BANK IN DHI QAR CONFIRMS THAT THE INTRODUCTION OF ATM DEPENDS ON THE CURRENCY”   Quote:  “…the introduction of ATM in the markets and banks ARE SUBJECT TO THE IMPLEMENTATION OF THE DECISION TO DELETE ZEROS FROM THE IRAQI CURRENCY...”  …don’t anyone tell me that bringing these ATMs online and filling them with dinar is not part of the plan of project to delete the zeros. Here is the article in black and white…Here is the proof.

Delta – Dinar Guru   Article:  “Customs: The implementation of the agreement signed with Kurdistan as of tomorrow 15-02-2019”   ADDING TAXES MEANS PRICES HAVE TO INCREASE AT LEAST BY 10 -30%…THAT WILL CAUSE INFLATION IN PRICES INSIDE IRAQ AND DEMONSTRATION  FROM IRAQI…SO THE GOV AND CBI HAVE TO GIVE SOME POWER OF PURCHASE…STARTING THE TAXES FINALLY AFTER SO MANY YEARS IS ONE OF THE BEST NEWS SO FAR SHOULD GET ALL OF US HAPPY…THERE WAS ONLY 2 THINGS LIFT FOR THEM TO BE ABLE TO MOVE TO ARTICLE VIII… 1 – TAXES…WILL BE DONE TOMORROW… 2 – LIFT THE 000 ZEROS…

Mountain Goat – Dinar Guru   …old article from 2014… Article:  “DELETION OF ZEROS IN 2014 NOW EARLY 2015…PROJECT IS READY AND IMPLEMENTATION OF A DEFERRED PROJECT”  It is now already 2019 and so four years plus passed already. Where is the RV?  This project to delete the zeros is so long, long overdue. Each time we go through an election cycle with a new government we have to start convincing everyone all over again to do it and the importance of it. I think we are so close I can hardly wait.

Adam Montana – Dinar Guru    I’m actually very pleased to see the steady growth of oil, rather than a sudden spike. This “controlled growth” is exactly what I would want if I were Captain of the CBI, because it shows stability in the main area that needs it.  All of these things are coming together for us, creating the perfect situation. Obviously things can, and will, come up. I don’t have an exact date for you, and I never will. But that sure won’t stop me from being excited about what we’re in the middle of right now!  Overall, things are just looking dandy.   [post 2 of 2]

Adam Montana – Dinar Guru  The RV train is still chugging along, with nothing but positive steam powering these updates…suffice it to say that we’re in a pretty spot! NOTHING has detracted from the good news on HCL.  WE STILL have momentum on the budget, which is currently WAY AHEAD OF NORMAL. And I’ll sweeten it up just a little bit with this – you remember that $60 mark I mentioned about a month ago?  YEP, STILL GOING THE RIGHT WAY!  Oil is creeping up on $56 as I write this.  That’s halfway to my mark of $60…and going strong!    [post 1 of 2]

Mountain Goat – Dinar Guru   …Remember as I said many times we will see a rate change within Iraq as close to 1000 dinars or lower per USD first, then the CBI must launch the smaller notes or the economy will not have any currency they can work with.  So now we see the CBI program rate as record lows coming into this week and so we should expect it even much lower and then the launching of first the 25, 50 and 100 dinar notes, as promised would happen at this time. Stay tuned it is all good.  [post 2 of 2]  

Mountain Goat – Dinar Guru   Article:  “CURRENCY STRUCTURE: CENTRAL BANK PREPARES TO DELETE 3 ZEROS OF IRAQI CURRENCY” …this article …is only from Nov of last year…not too long ago. Okay so here is the beginning of the re-education process I said would begin a months before the reinstatement would happen.  Remember the CBI must first wait for the right environment to launch the rest of these lower smaller category notes. Now they are telling us the time is just around the corner. This is exactly what we wanted to hear and needed to hear at this time. [post 1 of 2]

MilitiaMan – Dinar Guru   …articles are out about CONTRACTS…They have to be adjusted accordingly…Let the CONTRACT’s adjusting to a new rate sink in… The Pres signed the 2019 budget on the 4th… Note the articles about Contracts use the word Implementation… So aside from the time line, think about it. Contracts and pricing of goods, needs to be done as well. They imo won’t or can’t put pricing off for long.. We have not heard Taxes and Tariffs being put off or extended…Now think about it…02/04/19 and 10 days less the weekend of two days…Puts Kurds talk of 02/17 for implementation of T & Ts or even the federal budget law to install contracts, imo, right on time…

Kaperoni – Dinar Guru  …There no RV.  Once the GOI is formed (Still missing 4 cabinet members),  parliament returns, begins passing laws we may see the CBI move to a float.

Mountain Goat – Dinar Guru   Article:  “DANNAIR PUBLISHES THE FEATURES OF THE NEW IRAQI CURRENCY AFTER THE DELETION OF ZEROS”    …article from 2012. We know without doubt that the CBI under Dr Shabibi planned to RV in Jan 2013 and thus was educating the people on the new currency in 2012. This is they type of education we are still looking for… So we know the new smaller categories are all printed and ready to be launched since 2012.

MilitiaMan – Dinar Guru   Article:  “The Association of Iraqi Private Banks Organizes a Workshop «Automated Taxation on Direct Deduction Tax”   Electronic and automatic taxation.. New and improved…I am if the view they mean business and the Iraq Private Banks are going to be a huge part of the reconstruction effort…Massive amounts of money will be moved through them especially once they are fully Article 8 compliant with a new non program rate...Alak the phone is ringing…lol.

Adam Montana – Dinar Guru   Article:  “Barzani meets with Mahdi re: HCL (?)”  For those of you that don’t know, the HCL is possibly/probably the last thing we need to see for an RV.  Quote:  “the agreement will be signed between the leadership of the two parties soon”  We all love the word “soon”, but this time… it’s looking very, very real.  Quote:  “the implementation of even two thirds of the terms of the agreement, which is scheduled to be signed on the 18th of this month”   Two thirds or more is PLENTY to suit our needs!  Quote:  “The draft agreement includes 18 items… especially the proceeds of natural resources”   FYI, this is HCL. Plain and simple. There is a LOT of excitement around here concerning the middle of the month. This is a big part of that excitement.  I won’t encourage anyone to get too excited, but I’m also not going to downplay this one… this is BIG. We are in the best situation for an RV that I have ever witnessed.

Sandyf – Dinar Guru   cbi has stated many times “restore and or increase purchasing power of the dinar”  Many seem to think that statement means “restore and or increase purchasing power of the IQD”, but it is not the case. Zambia increased the purchasing power of the Kwacha, by deleting 3 zeros.

Mountain Goat – Dinar Guru   Article:  “KUWAITI NEWSPAPER: IRAQ PAID KUWAIT $ 300 MILLION”  Quotes:  “Iraq finally paid Kuwait $300 million in payment of a series of compensation owed by Baghdad to Kuwait for the losses and damage suffered by individuals, companies, government and international organizations as a result of the Gulf War.”;  “…the payment was resumed at 0.5 percent of Iraq’s revenues starting from 2018, and will increase annually UNTIL THE END OF 2021…”  …just so everyone knows this payment does not have to be repaid completely before they can reinstate the dinar. We are not waiting for 2021. Proof of this was the attempt by Dr Shabibi to reinstate back in 2012-2013. So relax!

Kaperoni – Dinar Guru   …the CBI banking conference (which was scheduled for last fall) and rescheduled for Feb 10/11 has in fact been postponed again to “summer 2019”.  Some have asked my opinion on this banking event and all I can say is the fact they keep postponing it must be a telling sign that they do not want to hold this event until all their ducks are in place.  After all, they advertise “Iraq is open for business” and currently that is not the case. More work still needs to be done…ie currency reform, laws passed etc.

MilitiaMan – Dinar Guru   […The investment conference, which is/was to begin tomorrow (2/10), has now been pushed back to this summer…??]   Yes it appears as such and in my opinion, it was due to that they haven’t shown the rate yet. I was expecting them to cancel with out it.   …There is nothing bad out there to support we are not in a good place today!   Those that were expecting the final rate ahead of the conference, knew in advance if the rate didn’t change they would not be having one.. imo..

ChrisC – Dinar Guru   …I think WS thought this was going to happen last year because it was supposed to and Trump planned for it to.  However, as WS found out with Maliki, Iran swings a big stick in Iraq and these people are hard to control.   Realizing that asking politely and even giving them gift upon gift was not going to work, Trump came up with a new strategy…Trump realized he had to choke out the source…I think all of these sanctions that have made them see stars and tap out was to force them to see the RV as a solution and not something they should continue to interfere with.  He now has Iran HAPPY to get dinar and looking forward to it rising in value… 

MilitiaMan – Dinar Guru   Article: “Iraq, New Iranian Central Bank / “New currency” map is on its way?“  As Frank is saying INTERNATIONALISM is the theme… Converting Dinar into other currencies like the Euro, Ryial, etc.. The AMF is having a meeting on Saturday in regard to Financial Developments.  Well what Financial Developments are staring at us..lol.   WS  data imo is AMF / AAD – IMF / SDR 3x type of developments that need to be discussed. Kinda like a huddle just before executing the big play.. We shall see.. Shall we not? lol.  Is the NEW CURRENCY map on the way, mean the new currency of Iraq is being delivered or has been around the world? Keep in mind Iran told us they did a deal with electricity today and the payments are settled.. In other words past tense…imo.

Mountain Goat – Dinar Guru    4. Abdul Jalil is asking – Why did we do all this international banking reforms and comprehensive electronic banking reforms, if we are not going to raise the zeros from the currency? He alludes to the fact that he thought this was part of the reason for all this past work. So where is it then? Why is it taking so long. Do we need to get the GOI involved to force you to do it?      5. Abdul Jalil attitude on this article puts pressure on the CBI to respond. We all need some positive news on this project. WE have not heard anything from the CBI now for over 3 months. Abdul Jalil is saying that it should not be the sole responsibility of the CBI but to get the GOI involved in the decision process too. I happen to know the GOI is involved and they are the hold up so it is NOT the CBI...  [post 2 of 2]

Mountain Goat – Dinar Guru   Article:  “RAISING ZEROS REDUCES THE MONETARY MASS AND NEEDS A DECISION FROM THE TOP”   Abdul Jalil is telling us in this article many important points.  1.  the banks are now making money outside of the currency auctions (loans, mortgages, card fees, etc..) and perhaps it’s time not to solely rely on the spread of the currency exchange for bank revenues, thus they can eliminate the auctions and get the project to delete the zeros done now (which includes reinstate the dinar);  2.  not raising the zeros complicate contracting with companies;    3.  can hold up the funding for the reconstruction efforts;  [post 1 of 2]

Adam Montana – Dinar Guru   Article:  “Kurdistan Region Prime Minister Nechirvan Barzani met on Thursday with his Iraqi counterpart Adil Abdul-Mahdi in Baghdad.”  Barzani meets with Mahdi re: HCL (?)   “First visit… since the approval of (the budget)”… It’s only been a week!  This is moving, and fast.

Adam Montana – Dinar Guru   OIL  54.00  +0.63%  How can it possibly be more encouraging?  If oil keeps trending, there is no stopping this!

Mountain Goat – Dinar Guru     The answer to this first question is also the answer to the second in that it is the US Treasury that will come around the banks in armored cars, as they do on normal runs, as pick up these physical IQD notes as they come into the banks. Once re-verified by the treasury department, they will be credited back to the banks. The banks will get a set allowance of $$$, probably daily, of funds from the treasury to use for this purpose of collecting these dinars or rather to help facilitate the trade deals. It is normal for the Central bank of the US to allocate funds to the banks for these purposes. Arrangements have been completed for this purpose… …the government must come out with some mechanism to address informing us investors of where to appropriately go to conduct our exchanges of this currency…   [post 2 of 2]

Mountain Goat – Dinar Guru     EXCHANGE PROCESS… Remember how the banks operate. They need to make a profit. …So what…are they going to do with billions and billions of Iraqi dinar in their foreign currency portfolios of reserve currencies? They will need to sell the currency to someone with a spread to make any money off it. …Also where are they going to get all the funding to make these exchanges?  …at this time the banks will already have a customer for the dinar. The US Treasury has already made arrangements with the major/main bank branches to buy all their dinar, if they chose to trade it. So the banks do have a customer and this is why they will be taking the dinar so easily. If it weren’t for this fact there is no way that billions of dinars could be traded and taken into the banks throughout the US by average walk-in citizens.  [post 1 of 2]