Dinar Observer Daily

Militia Man – Dinar Guru  At this stage of the game we’re expecting them to have an education process.  If they’re going to be international currency and they’re going to come out with an international real effective exchange rate they’re going to need new small category notes…from the CBI’s website back in 2018 they allocated millions and millions of dollars to print small category notes…hopefully this is one of those times where we’re going to see some education…we can see it any time.  That’s where we’re at…

Henig – Dinar Guru   Article:  “US specialized agency: Iraq will not ‘undermine the dominance of the dollar’ by paying the yuan to China”  Quote:  “Middle East officials are quick to say that the dollar will remain the currency of choice for energy,“

Sandy Ingram – Dinar Guru  Many of us are wondering if these new deals with China…are good for our Iraqi dinar investments…what we are seeing is a small country pulling away from the west and moving towards friendships, partnerships and deals with China and neighboring countries.  This is not necessarily a bad thing for Iraqi dinar investors.  As long as Iraq is making safe progress we don’t care who they hold hands with as long as sanctions are not in place with the people they are holding hands with.  We want an increased value in the IQD against the US dollar…

Pimpy – Dinar Guru  Gold is the second largest export for Iraq next to oil and gas.  You can only imagine what would happen to Iraq if they would allow an actual mining company to coming in there and mine all the gold…

Pimpy – Dinar Guru  When it comes to Iraqi dinar there’s a lot of variable that’s involved.  It isn’t going to happen overnight.  It’ll most likely happen in increments.  There’s a lot of things that people have to take into consideration…

Deepwoodz – Dinar Guru For me the mystery is due to what we’ve learned, that they cannot reveal a major change in their rate due to legalities…There are finer details and inner workings we are not privy to… I for one am not worried…there are hundreds of articles in just the last couple weeks alone concerning the exchange rate, contracts, other countries, online platforms, sonar devices, etc.  None of this makes sense at 1300, 1190, or even 1:1. All this sounds like one of the most valuable currencies in the world.

Jeff – Dinar Investor   When you look at their actions…about 2 weeks ago they had a major meeting in Washington D.C…the Iraq Central Bank met with the U.S. Treasury and Federal Reserve to lay out all the ongoing future requirements and steps that are going to be put in place regarding our money, their money and some other currencies out there and some precautionary steps in regards to the dollar – the cans and the can’t do’s.  A lot of good things are happening…

Militia Man – Dinar Guru  When we’re talking about value we’re talking about things that are determined from what?  Income streams beget value…and assets create value.  They don’t want to underestimate the value and they don’t want to overestimate the value.  They want it right it line with what is fair or real – Real Effective Exchange Rate is on the table…

KandG – Dinar Guru   Article:   “The Kurdistan Regional Government announces reaching an initial agreement with Baghdad on the draft budget law”  Quote:  “the Iraqi government revealed, two weeks ago, that the Ministry of Finance had begun to re-prepare the general budget for the year 2023 according to the new exchange rate (130) thousand dinars per 100 dollars.” …Yes – I’m deemed negative but in actuality it is not negativity but looking at ALL articles, not just the ones that are favorable…

Paulette – Dinar Guru  Typically, it [the budget] will go through First Reading and then go to Parliament’s Finance Committee for review.  This review is often at least  2-3 weeks and often much longer.  It then comes back for Second Reading and if all agreed, it can then be passed.  If not agreed it will go out for at least three days before Third Reading and passage paragraph by paragraph with the first paragraph delineating the rate.

Sandy Ingram – Dinar Guru  The exchange rate between the USD and the IQD is still at 1458 on the international currency feed.  We don’t know why it has not calculated to 1300 per the CBI’s rate change…[I’ll] keep you posted.

Pimpy – Dinar Guru  There’s a difference in RV and RI…RV is when you re-value a currency.  We saw a revalue when the Iraqi dinar went from 1190 dinars to 1450.  That is an RV.  An RI is when you had an exchange rate for whatever reason they changed it and then once it was done they just reinstated it.  That’s what happened to Kuwait.

Militia Man – Dinar Guru   There is some really big information that came out today…From The Arab Monetary Fund and Al Sudani talking about joining the International banking system. This is huge. These people are telling us they are going International.

Pimpy – Dinar Guru  The United States has been tightening the screws down in Iraq because they feel money is being smuggled/laundered…over into Iran circumventing the sanctions…which is a no-no…we’ll notice if the Untied States starts loosing up with the dollars…

Militia Man – Dinar Guru  The government returned the budget to the finance ministry in order for them to adapt it to a new exchange rate.  Our view is the 1310 is something in the past.  We believe there’s going to be a different change coming…I hope you guys feel like I do.  You should be excited…

Clare – Dinar Guru  Article:  “Association of Iraqi Banks: Dealing in the Chinese yuan may provide the possibility of reducing import costs”  Quote:  “the Central Bank will consider, after controlling the exchange rate of the dollar in the balance market, by linking the price of the dinar to the dollar immediately and not at fixed prices.”

Deepwoodz – Dinar Guru  Question:  “article says the budget will reach the house this week.so does that mean the com agreed on everything to send it to the goi?”  I think yes…The COM is Sudani’s selected government whom Parliament gave a vote of confidence for. Between them and the PM, they are carrying out what they’ve been calling the government program. It’s supposed to be why they achieved the approval of Parliament in their beginning.  I believe that this budget, like everything else it seems since Sudani came on scene, will pass scrutiny rather quickly. As it should be reflective of all the promises they made in order to gain power.

Pimpy – Dinar Guru   Does the future look bright for Iraq?  Yes, as long as they start getting their shit together and their government starts doing the right things necessary like providing funding for infrastructure and helping with education that helps contribute to the currency exchange rate.

Sandy Ingram – Dinar Guru  Currency Mayhem – IQD from USD to CNY.   Article:  “Iraq, short on dollars, moves to purchases with Chinese yuan”  To compensate for a foreign currency shortage Iraq Central Bank said the country would soon trade with China directly in Yuan…This happened …because the Iraqi Parliament approved a currency revaluation in response to a shortage of U.S. dollars… The Federal Reserve Bank pulled back on U.S. currency in Iraq because it was proven that US dollars were flowing freely into Iran and Syria…  [Post 1 of 2]

Sandy Ingram – Dinar Guru  This is the first time imports from China will be paid for in Yuan. Before now all imports were paid for in U.S. dollars.  The Central Bank of Iraq said this move could boost the balances in Iraqi banks that have accounts with Chinese banks.  It would also boost local bank balances through the central bank’s U.S. dollar reserve accounts with JP Morgan…It would work something like this.  The Iraqi bank would convert U.S. dollars to Yuan and pay invoices in China [Post 2 of 2]

Mountain Goat – Dinar Guru  …the Central Bank of Iraq launched the second package of reforms. In a remarkable statement, the Central Bank of Iraq announced, a plan to allow trade with China in Chinese yuan instead of dollars, in an apparent attempt to improve access to foreign currency and reduce dependence on the dollar. WOW! …we can see this is good news and also bad news as it may lead to complications if the CBI does not manage it correctly. …Would Iraq sell oil for Yuan? …if Iraq did make this move this would certainly push them even more to reinstate the dinar as an international currency once again but only if the CBI can also control these new currencies. We just have to wait and watch. It won’t be long before we see what happens.

Pimpy – Dinar Guru  Question [If they remove the zeros from the currency what will happen to the old currency?  Is it only the 25,000 note?]  …I’m sure we’ll have time to go ahead and swap our currency out.  You just can’t screw over a lot of people who are legitimately holding on to the Iraqi dinar.  If it were to happen it [the CBI] would give us a window of opportunity in which to go ahead and make the exchange…

Breitling – Dinar Guru  It’s black and white.  Iraq picked the right guys.  They picked us.  They’re going to stay with us.  They’re not going to go with the BRICS.  They’re not going with Asia.  They’re not going to go with the EU.  They’re going to stay with the biggest massive system in the world where they can get capital.  And if they need to raise money through the IMF…they’re going to stay with those guys because Europe doesn’t have any money to lend out.  China doesn’t have any money to lend out and if they do lend it out it’s not worth the risk for them…

Militia Man – Dinar Guru  It’s been 20 years they’ve had this process going and now they’re finally getting to that change.  If we can’t see it now we probably never will but at this stage of the game I’m a believer that they are telling us and they did tell us there’s no going back.  This process is underway.

Pimpy – Dinar Guru  With a strong economy and the gold reserves are up and the foreign currency reserves are up there’s no reason for Iraq not to have a stronger exchange rate once you can start providing more jobs and you start redoing infrastructure but it’s not going to happen overnight.  You’re not going to see no presto huge jump in the exchange rate.  No.  It’s going to go up in increments…

Samson – Dinar Guru  Article:  “An economist expects a third package from the central bank to reduce the dollar”. THIRD PACKAGE OF DECISIONS – POWERFUL.

Sandy Ingram – Dinar Guru  CBI announced Iraq will do business with China using the Chinese currency…this is an attempt the Central Bank of Iraq is saying to stabilize or help stabilize the IQD.

Mountain Goat – Dinar Guru  There is some amazing news and it falls directly in line of what we should be expecting at this point in time. We all should realize by now the IQD is no longer pegged to the dollar…When I reviewed the Dr. Shabibi 2011 plan of the process to reinstate the Iraqi dinar…that part of the process would be to de-peg for the dollar then watch for inflation…This period of adjusting for inflation could take a few days, weeks or even months…We must now settle down and relax while we watch the process play out.

Militia Man – Dinar Guru   Changing from the dollar to the dinar in real estate is going to be a a big thing because multi-currency practices are going to be gone.  They’re making it so that people have to use the dinar.  Whether that’s in real estate, whether that’s in commercial business, the dinar is going to be the main focus…

Pimpy – Dinar Guru    Inflation, unemployment, demand, political stability, supply, future prospects…all play a part in the currency exchange rate.  Is inflation down?  They’re saying it was at double digits last couple years although every time I look at it it’s in single digits.  Unemployment is not under check…Demand for the currency?  There is none. People want the dollar.  That’s why the market rate is so much different than the official rate.  Political stability?  No.  We just watched Iraq go through an entire year of bickering about who is going to run the government.  Supply?  They have nothing to offer the outside world, not yet, but they definitely need a lot of things in country.  Future Prospects?  …over 65% of the people in Iraq over the next couple years will be of working age.  That’s perfect.