Dinar Observer Daily

Sandy Ingram – Dinar Guru  Article: “Iraq’s central FX receivers rose to $96 ben, prime minister says”  We already know the Iraqi government has over 85 billion U.S. dollars in foreign currency reserves…Iraq uses the U.S. Federal Reserve as a piggy bank.

Clare – Dinar Guru   Article:   “The Cabinet approved the draft budget law for the years 2023, 2024 and 2025”  Quote:   “…in its regular session chaired by the Prime Minister, Muhammad Shia’a Al-Sudani, and refers it to the House of Representatives.”

Nader – Dinar Guru   Everybody’s asking me if they can send money to Iraq with Apple Pay or a cash app.  Tell you the truth I didn’t try it and didn’t try it in any country.  I gotta try it to see.  I never sent money with cash app to another country or Apple…We’re gonna try tonight and I’ll let you know…I know I can send money with Western Union.  I can send money bank transfer.  Yes, I can do that.  Apps I’ve never tried so I gotta try it…Give me a couple days and I’ll let you know.  I know it’s [dinar] international for sure.  My friend told me and I saw 2 articles too.

Clare – Dinar Guru  Article:  “Adviser to the Prime Minister: Approval of the budget in a special session of the Council of Ministers tomorrow”  Quote:  “Adviser to the Prime Minister Diaa Al-Nasseri announced that the draft budget law for the current year 2023 will be approved in a special session of the Council of Ministers tomorrow, Monday.”

Clare – Dinar Guru  Article:  “Taif Sami announces the completion of the “2023 budget” and sends it to the Council of Ministers for a vote“

Wolverine – Dinar Guru   I’m expecting big news from Zurich and Reno today guys. Let’s pray that we finally get that miracle call that we have all been waiting for so long.

BGG ~ NONSENSE.

Mountain Goat – Dinar Guru  … Over the weekend I talked to my CBI contact and I was told to expect the second of the two rate changes “within 7 to 14 days”. Then I was also told they needed to begin the education process of the newer lower denominations and we could expect this effort only when we get really close…It is my guess that these newer notes should come out sometime in March or early April… [post 1 of 2]

Mountain Goat – Dinar Guru  The news today from the CBI is flat out telling us and I quote – “ADOPTION OF THE NATIONAL CURRENCY” in Iraq.  Yes, this was the CBI itself telling us this news… they already de-pegged from the dollar and we are now just waiting for the second new rate adjustment and then then new basket of currencies that they will re-peg to once they move to FOREX….Folks we are soooooo close to the RV I can hardly maintain myself and stay calm…  [post 2 of 2]

Breitling – Dinar Guru   Community comment/question “I keep talking about what I’m watching.  What Iraq is watching.  What position? How are they posturing?  How are they looking at the globe financially to help make the decision when they’re going to add value to the currency?”  Because they will and they are.  They’ve stated it over and over again.  It’s never been a debate…

Nader – Dinar Guru  The budget will be sent to Parliament next month...the first week of April the budget will be sent to Parliament.

Sandy Ingram – Dinar Guru   Barron’s Article:  “Iraq issues Arrest Warrants In ‘Heist Of The Century” Taming corruption will help increase the value of the dinar.  It will also gain the people’s trust which is greatly needed to get bank deposits up.  All of this plays into the hands of increasing the value of the Iraqi dinar against the U.S. dollar.

Deepwoodz – Dinar Guru   Article:  “Wasata and a long wait”… Citizens are dissatisfied with the procedures of “dollar banks” in Iraq“  The squeeze is on. Hard for them to get the dollar they are so used to using. Sudani telling them to keep their dinar but they have to use something. This can’t go on for much longer I would think.

Militia Man – Dinar Guru  We are seeing data that supports the World Trade Organization, the Government of Iraq, the Regional Government and the Grand Ayatollah Al- Sistani support for reforms and have edicts and agreements that are set now. The citizens know where they stand on currency exchange do’s and don’ts per Sistani, progress on accession to the WTO and most of all the finalized agreement of the Oil & Gas Law and 2023 Budget Draft Law between both sides of Erbil and Baghdad. What else is to be done? Watch and see what they do.

Pimpy – Dinar Guru  IMO they are truly after all these years very close to finally coming up with the agreement between Kurdistan the federal government of Iraq.  If they can come up with this agreement and they finalize it and they agree with the gas and oil law which everybody and their mama out there in dinar world told that once that is signed…’oh man the Iraqi dinar to the moon!’…I think it’s a great first step…Once it’s signed I’m curious to see where Iraq goes in the future but I wouldn’t be holding my breath too long.  Let’s first get this agreement signed…that’s one of the major boxes that need to be checked…

Clare – Dinar Guru  Article:   “The Central Bank of Iraq decides to use only the local currency at ATMs ”  Quote “...it was decided that the electronic financial services provided inside Iraq Through (automated teller machines, point-of-sale devices, electronic payment gateway) in the Iraqi dinar.”

Mountain Goat – Dinar Guru   Article:  “ADOPTION OF THE NATIONAL CURRENCY (CBI)”   Quote:   “…the Central Bank of Iraq to encourage reliance on the national currency in financial transactions inside Iraq provided by the banking system and non-bank financial institutions”  It is articles like this one that is music to my ears (eyes)…Yes, we know for sure and without a doubt that the reinstatement of the Iraq dinar is just around the corner.

Militia Man – Dinar Guru   There’s some interesting information.  The Ministry of Planning and the European Union are supporting Iraq to join the World Trade Organization…European Union, International Trade Center and Department of International cooperation … getting together for that support.  We’re going to see how these guys work it out…progress is underway.  It’s not stopping…

Pimpy – Dinar Guru  Article:  “An ‘important’ statement from Al-Kazemi regarding the recent arrest warrants against his government team”  Al-Kazemi has become the Donald Trump of Iraq.  As soon as that guy got out of office they’re going to go after him with everything trying very hard to find ways to implement this guy so they could throw him in jail.

Nader – Dinar Guru   A friend of mine told me…you can transfer money from Iraq to anywhere in the world.  That’s very good news.  I’m happy…

Deepwoodz – Dinar Guru  Article:  “The draft budget law 2023 will not be included on the cabinet table”    Quote: “the draft budget law for the current year will be ready and will be sent to the House of Representatives by the end of this month.”  Great news!  We don’t want the budget yet.

Militia Man – Dinar Guru  Sistani Grand Ayatollah coming out and talking about foreign currency exchange with the citizens is some of the best education I’ve seen in 13 years.  I take it very seriously.  I’m very excited about it because he’s not a banker.  He’s not a businessman.  He is a cleric.  He’s a religious man.  But when he speaks to his citizens they listen and so what he did was he was educating them…it’s all good for us.

Mountain Goat – Dinar Guru   Article:  “AFTER 20 YEARS… WILL ARTICLE 140 BECOME A REALITY?”  There is a real movement for the implementation of Article (140) of the Iraqi constitution. As we all should know the new Iraqi constitution must be fully implemented or at least on it way prior to the reinstatement… we see yet another positive sign that the Al-Sudani administration is very serious about finally implementing Article 140…

Pimpy – Dinar Guru  It’s on the exchange…the Iraqi dinar is.  It’s not on the big one, Forex, but it is on the local exchange…right now it’s trading on the open market at 1459 dinars for every $1…that’s the one [1459] you don’t want to get higher.  The higher this gets the worse off it is for us.  That means more people are wanting US dollars and they’re willing to pay more Iraqi dinar for that.  We don’t want that to happen but right now it’s been maintaining in the same area now for quite some time.

Deepwoodz – Dinar Guru  Article “Parliamentary Finance stresses the introduction of the new salary scale before the budget legislation“  I’ve often thought about some of the things they would have to do BEFORE changing the rate.  One of those things was to change the salary scale. Why? Google shows the national minimum wage to be 250,000-350,000 dinar per MONTH. Not much income at 1460 or even 1310, but if you plan on going through a major change, it would behoove you to change the scale accordingly. Don’t ya think?  …it states that has been the going rate since 2018. Which one can also confer that during the rate change in Dec. 2020, they did not make an adjustment. They also did not make an adjustment BEFORE going back to 1310. So, Why do they need one now would be the next question I would ask, with a grin on my face?!

Nader – Dinar Guru  The street demonstrations you see…First it’s for the food baskets.  Second is for what we call it ID – retired people want more money.  Third is for the exchange rate…purchasing power.  Power to purchase more things with their money.  That’s what they want to do.  That’s why you see there’s a demonstration.

Sandy Ingram – Dinar Guru  How Iraq caused the currency crisis – Here’s what happened.  Iraq spends around $900 million a month on Iranian goods.  $50…is for electricity and gas…Now the mistake – The U.S. and Iraq decided to pay Iran in Iraqi dinars.  Surprisingly Iran said okay.  Iran then proceeded to the Iraqi daily exchange auctions to trade the dinars for U.S dollars.  [Post 1 of 2]

Sandy Ingram – Dinar Guru The Federal Reserve Bank in New York City had a fit and began implementing restrictions…You see, the U.S. holds the money Iraq makes from oil sales…Iraq is caught between the U.S. massive amounts of oil revenue and OPEC controlling Iraq’s oil exports and Iran controlling Iraq’s electricity…the bottom line – Iran obtained large large amounts of the Iraqi currency that Iraq needs to pay government salaries and run the government…this is a global issue.   [Post 2 of 2]

Pimpy – Dinar Guru  A lot of people asking me if the Iraqi dinar exchange rate has changed again.  No it has not.  When you hear people out there whether it’s from the news or people posting about the exchange rate they’re usually talking about the open market rate which is different than the official rate.  We know right now the official rate is 1300.  We know the black market is somewhere around 1450 which is where they wanted it in the first place…

Militia Man – Dinar Guru  The Council of Ministers referred to dealing in dinars.  It says there’s no justification for citizens to use foreign currency in local transactions.  In other words in their local transactions there’s no reason to be doing anything outside of the dinar...if you’re going to go buy a car – dinar.  You’re going to go buy a loaf of bread – dinar.  Just the way it’s going to be…

Clare – Dinar Guru  Article:  “Sudanese and the World Bank delegation are discussing joint cooperation and support for the government’s plans“