Dinar Observer Daily

Sandy Ingram – Dinar Guru  We do know there is a high level of expectation of certain tasks being completed by the Iraqi government in a short period of time.  We also know the delegation believed they could persuade the US Administration to postpone the restrictions imposed by the US Federal Reserve Bank on dollar transfers to Iraq.  Yeah, that didn’t happen…the article said the recommendations for the Iraqi delegations to follow what is described as media silence and not to reveal the scenes of what was discussed behind closed doors.   [Post 2 of 2]

Mountain Goat – Dinar Guru   Beginning of the White Paper reforms for Iraq …The Wealth Transfer is coming…  yes it is in progress. Weeks ago the IQD was taken off the sole peg to the US dollar. Surprise, surprise…!!! …This was done while implementing the US Treasury electronic platform. The reason for the platform was not just to curb corruption but also for Iraq to get off the US dollar. Yes, finally ditch the dollar. …Like many changes this will take time to adjust… Then Al-Alaq implemented quickly yet another step to the process including the lock-down of an official rate of the IQD.

Pimpy – Dinar Guru  Will there be an increase in the Iraqi dinar?  I hope so.  Whether it be a big one where the Iraqi dinar is actually exchanging with more value than the U.S. dollar, I don’t think so.  I could be wrong but I don’t think so…

Henig – Dinar Guru  Article:   “We reached a “good agreement” with Washington on the exchange rate crisis”  Quote:  “from now on, the import and export of dollars to and from Iraq will be through an electronic system,” adding that “the establishment of the electronic system will be in the interest of Iraq and the national currency (dinar).“

Sandy Ingram – Dinar Guru   Houston we have a problem.   Counterfeit dollars and Iraqi dinars found in Northern Iraq.   Article: “Counterfeit money sweeping northern Iraq”  Counterfeit US dollars deepens the financial crisis in Iraq as denominations of counterfeit US dollars appeared in the Kurdistan region.  Now the Minister of Finance and Economy in the Kurdistan region of Iraq called on citizens to pay attention and be aware of the spread of counterfeit local currencies and the US dollar.

Pimpy – Dinar Guru   It looks like Iraq is going to be working with Interpol.  If they catch anybody do money laundering or smuggling a currency to go ahead and turn them over because it’s a really important step in fixing everything that’s wrong over there in Iraq.

Mountain Goat – Dinar Guru  I am being told by my CBI contact that the CBI has about two weeks to prove they can withstand a rate of 1000 dinars to the US dollar… they will evaluate the situation and decide a “Go” or “No Go” to 1:1.  …we could very possibly see a rate of about 1 dinar to 1 dollar (1:1) in two weeks from now but I really do not think it will happen that soon. This is their goal in Iraq anyhow… Yes, I said 1:1 “in Iraq” as I have told you all along that the rate you will see in your country outside of Iraq may be much higher…This is amazing news…

Pimpy – Dinar Guru  Iraq is going to have to know how much currency is out there in circulation…the last thing you want to do is increase the rate of the dinar and turn around and enrich a terrorist group…If they’re going to do a huge rate change, I’m more than positive you’re going to see the redenomination of the Iraqi dinar because it wouldn’t make sense to turn around and enrich those very enemies that you’re trying to fight against.

Sandy Ingram – Dinar Guru  The IQD rate still does not show 1300 IQD to 1 US dollar.  We are not sure if the 1300 IQD rate is in effect.  However, a rate of 1310 IQD to 1 US dollar shows up on the Central Bank of Iraq’s website..

Paulette – Dinar Guru  …There will be a significant amount of USD going to Iran for imports and this will continue but under the “new mechanism”…Merchants conducting Legal business can purchase USD for 1320…Who is willing to pay nearly 14% more for their imports at 1530?  The Market is clearly still filled with corruption!  The Sudani GOI is stating all the right things about taking action against the corrupt that are causing this significant difference in the official and market rates and perhaps this is how they are “smoking out” the corrupt.  Time will Tell…it seems the clock is ticking.

Pimpy – Dinar Guru  Article: “US Report: Iraqi delegation in Washington came under ‘severe’ pressure from Biden administration”  To me this is just smoke and mirrors…they’re acting like they’re being hard on Iraq but I don’t believe it, not for a second.

Henig – Dinar Guru   Article:   “Government spokesman to Shafaq News: The Iraqi delegation to Washington reached “new mechanisms” on the dollar crisis”  Quote:  “…the American party has paid very attention to the Iraqi delegation in a very different way from all previous delegations that visited the United States of America during the past years…the two parties reached new mechanisms in cooperation and will contribute to the launch of large batches of hard currency into Iraq, and agree on the method of applying the electronic platform, and this will contribute within a very short period to the stability of the dollar exchange rate in the local market according to its official price, and this price will be stable in the coming days.”

Militia Man – Dinar Guru   We’re changing from an exchange rate topic to a value-related topic.  We have the foreign minister, finance minster and the central bank talking about value and value comes from not just an exchange rate per se but what’s the basis of that value.  That value is going to come from income streams, taxes, tariffs at the borders, natural gas, oil and …foreign reserves which is the dollar…and they have a lot of gold…the basis of all these meetings is definitely value.

Sandy Ingram – Dinar Guru   Article:   “Commission of Integrity issues 90 arrest warrants for official”  The officials include 4 MPs in the current parliament.  5 former MPs.  4 former ministers…2 current undersecretaries.  3 former undersecretaries …3 current governors.  14 former governors.  10 current General Directors.  27 former general directors…7 former members of government councils.

NORV – Dinar Guru   Despite the Central Bank’s decision to adjust the exchange rate to 1,300 dinars to the dollar from 1,470 dinars, confusion still prevails in the Iraqi markets. The exchange rates remain high despite the relative stability in the local stock exchange.

Pimpy – Dinar Guru  Article:   “Urgent the governor of the central bank reveals the secrets of the dollar’s devaluation and the reason for its rise in the market”  He’s saying there’s no reason to change the Iraqi dinar rate anymore.  He goes on to say anybody who wants an increase in the dinar versus the dollar must be wanting it for nefarious reasons.

Paulette – Dinar Guru Perhaps…However, Iraq has clearly stated that imports only require a maximum of 60 million/day…the citizens are being encouraged to hold and use IQD...where did the other 600 million+ go this week?  It certainly didn’t result in controlling the exchange rate as it still sits at 1530.  Somebody is clearly desperate enough to pay a premium for USD and is not willing to do it legally as they can purchase direct through the banks at 1320…many articles have stated that billions of dollars are syphoned out of Iraq and into other countries through the Currency Sales and that this “THEFT” has to end…Iraq has clearly stated that this excessive movement of USD is not a good thing…

Henig – Dinar Guru   Article:  “A leader in Al-Asa’ib sparks a dispute between Al-Sudani and Al-Maliki“.   IMO: Maliki being Maliki again.  I see any disagreement with Maliki as being a good thing. Maliki likes his power, and when someone opposes him on that, it’s generally needed. I like to see Sudani standing up to Maliki, it seems VERY positive. The more Sudani draws power away from Maliki, the better. Sudani ascending, Maliki descending. I like it.

Pimpy – Dinar Guru   Iraq…had a chance to come out to Washington and the squeeze was put on them.  Biden has put a crack down on Iraq because it won’t stop funding Iran.  This is what happens when you get a Coordinated Framework in there.  These are people who are loyal to Iran not Iraq.  That includes the Prime Minister forcing Biden and the United States Federal Reserve to put the squeeze on Iraq and it’s affecting their dinar.

Nader – Dinar Guru  Since last Saturday the police and man of law been running the streets in Baghdad and markets of Baghdad…you see a lot of cash in the streets.  Everybody sells cash on the streets and everybody sells dinar and dollar…the government is cleaning up.  They want to take all that out.  They don’t want nobody else besides the banks or the exchange offices to sell dinars or dollars or any kind of money.  That’s a good thing…if they are doing that they are doing it for a reason…that’s going to take a couple weeks…maybe a month to clean up all that money in the streets.

Mountain Goat – Dinar Guru   Article:  “PARLIAMENTARY WEALTH: ALL ROADS ARE OPEN TO PASSING THE OIL LAW IN PARLIAMENT”  This article is music to me when I read it… Yes we [have been] waiting so long to see this. Finally!!! Go RV!

Breitling – Dinar Guru  The Parliament did accept the proposed increase in value of the IQD to 1300 dinar per USD [From the CBI]. This is in part to offset the recent losses in value and to increase the purchasing power of the currency.

Pimpy – Dinar Guru   Article:   “Central Bank: Bank outlets to sell foreign currency continue to work by selling dollars”   Remember everybody was clamping down on dollars making them real scare.  The more scarce they are then they rise up against the dinar in exchange.  Iraq is trying to get permission from the United States to get more US dollars so they can release them in their country and drive the value down against the dinar.

Sandy Ingram – Dinar Guru  Article:  “Congressmen call for more US support for Kurdistan Region, tougher position toward pro-Iran elements in Iraq”  This cannot be good.  Or it may be the best thing that has happened in the last 10 years.  Congress is actively asking questions and wanting to control the purse strings of America’s aid packages to Iraq..

Militia Man – Dinar Guru   One of the things investors in the world need to come into Iraq…they need to have freedom of capital movement.  They must have been assured in the Washington, Baghdad, Istanbul and the meetings that we saw with the IMF and AMF in the last 24 to 48 hours are all coming about telling us that they’re going to be going international…

RVAlready – Dinar Guru  Article:  “Fuad Hussein: We reached an agreement with American officials regarding the dollar”  Quote:   “I see that the currency issue will be gradually resolved…”  Article:  “The Governor of the Central Bank of Iraq reassures the people: We found understanding from the Americans regarding the dollar”   This is great news from a respected Iraqi diplomat and the head of the CBI.  I’m looking for 1000 to 1 real soon now.

Mountain Goat – Dinar Guru    …Everything is pointing in the right direction that this could literally happen VERY SOON…

Pimpy – Dinar Guru  If the United States gets behind a revaluation of the Iraqi dinar to $3.22 then it’s going to be recognized by the rest of the international community.  But if the United States doesn’t get behind it, I don’t care if they change the rate or not it’s going to mean nothing to us who don’t live in Iraq …

Sandy Ingram – Dinar Guru   What is Iraq doing to prepare for entering the global financial world?  It is efforts like this that encourage our belief that the Iraqi dinar will revalue at a much higher rate…What is an FIU?  (Financial Intelligence Unit) That is a bid deal, a really big deal…Iraq applying for and being accepted by this organization says they are ready to dig deep and understand financial crimes before they happen…FIU could easily help Iraq identify large sums of money leaving Iraq for Iran or any other place in the world…this means checking the financial status for Iraqi politicians will become second nature.

Clare – Dinar Guru   Article:   “Huad Hussein from Washington: The currency crisis is gradually receding, and Iraq is becoming aware of it”  Quote: “… there is already a system in place between the Central Bank of Iraq and the US treasury, but it is new, and the Iraqi parties have become more familiar with the mechanism“