Dinar Observer Daily

Henig – Dinar Guru  Question:  “I thought the Parliments legislative term started on the 9th?” There’s been a LOT of misinformation back and forth…Lots of conflicting info, lots of stuff that just doesn’t make sense, but when you step back and think it through, you’ll see that it’s all intentional.

Mountain Goat – Dinar Guru  Finally, we hear overtones and direct convictions of some of the real problems with the dinar and the currency policy in Iraq now in place. …We all need to settle down and relax. The reinstatement is coming and I certainly hope they can pull it off in this January 2023…

Clare – Dinar Guru  Article:  “Al-Janabi: The Central Bank is able to restore confidence in the Iraqi dinar soon”  Quote: “this problem, which confused the state of the Iraqi market, will soon be resolved, and the central bank is able to restore confidence in the value of the Iraqi dinar and adjust technical matters in the near future,“

Pimpy – Dinar Guru   The last two months have been very rocky for the IQD only because of all the speculation out there.  There’s a lot of people that want to keep the Iraqi dinar unstable and they did a pretty good job of rocking the boat.  I think people are starting to wake up to this trick or maybe not.  We’re going to find that out the beginning of this next year…the budget…hopefully approved by February should calm a lot of people’s nerves and from there we should see some positive movement with the IQD…

Kaperoni – Dinar Guru  Iraq is beginning to create the conditions to launch a float of the Iraqi dinar. Large Central Bank Reserves, creating a private sector economy, all are conditions and requirements for the success of floating…one [article] specifically talked about the central bank’s reserves and how they won’t be needed at such a high amount a year or so from now.

Paulette – Dinar Guru  Many try to compare Vietnam and Iraq when evaluating the currency.  Most of these comparisons are flawed: “…Vietnam has a very low rate and their economy is one of the fastest growing…”  This is a totally irrelevant comparison.  The rate is not the issue.  The issue is IMF Article 8 Compliance.  This allows Freedom of Movement of capital in and out of the country.  [Post 1 of 2]

Paulette – Dinar Guru  Vietnam has been officially acknowledged to be Article 8 compliant, Iraq has not.  Additionally, the CBI has clearly stated their intent to implement the “Delete the Zeros” project.  Vietnam has not made any such claims.  Bottom line, comparing Iraq and Vietnam due to their low currency value is like comparing Apples to Oranges… [Post 2 of 2]

Kaperoni – Dinar Guru  Launching a float is not a simple event it’s based on the economic growth and laws that are in place…

Pimpy – Dinar Guru  People were told that you cannot exchange your dinar unless you have a humanitarian project.  That’s false… that’s another thing out there that drives me crazy.

Clare – Dinar Guru  Article:  “Parliamentary expectations for the arrival of the federal budget before the start of the second legislative term”  Quote:  “Parliamentarians expected the federal budget to arrive before the start of the second legislative term, which will start next Monday.“

Mountain Goat – Dinar Guru   Iraq started the process of joining the WTO 18 years ago…the process was delayed due to corruption in Iraq… due to political and economic instability this was stalled until 2017…Since then, the fast-tracking process is underway…Iraq has made considerable progress in this front…They must be VERY close to full membership…I will say that I believe the WTO is also going to push that Iraq reinstate the IQD back on FOREX and relieve Iraq of all sanctions on their currency… Iraq was supposed to be already reinstated on FOREX, as Dr. Shabib wanted to do back in January 2013.

Walkingstick – Dinar Guru   The 3-zeros are going to drop gradually as the IQD floats internationally.  You will see the exchange rate go from .000 to .00 to .0 to . – that’s the float.

Pimpy – Dinar Guru   The re-denomination of the Iraqi dinar…too much has happened with the Iraqi dinar for it to continue to exist in its current state.  Something needs to be done about that.

Clare – Dinar Guru  Article:  “Minister of Oil: We have achieved more than $115 billion in exporting crude oil for the year 2022“

Nader – Dinar Guru  The only way for you to be comfortable and say okay it’s time or it’s close is when you see him change currency.  When you see him [CBI] come out with a new currency and stop buying and selling the dinar…

Sandy Ingram – Dinar Guru  This is an extremely important lesson and real case study of the Central Bank of Egypt’s decision to float the currency.  We are sharing this information so you know what to expect or not expect should and when Iraq floats their currency…Floating a currency… means the government is no longer controlling the value of the Egyptian pound…For decades the Egyptian currency was pegged…it could only go up or down based upon the fluctuations of the U.S. dollar…Then Egypt needed a loan from the IMF… [Post 1 of 2]

Sandy Ingram – Dinar Guru  One of the conditions required Egypt to float their currency…the immediate results were high prices and…a sudden widening of the exchange rate between…the black market and the Central Bank of Egypt’s currency rate…The value of the Egyptian pound dropped by nearly 50% last Thursday however in the long term it is hoped…floating the currency will control inflation…Egypt has been running desperately short of foreign currency.  Iraq does not have this problem…Iraq foreign currency reserve is now over $96 billion... [Post 2 of 2]

Mountain Goat – Dinar Guru  Article:  “FOR THE FIRST TIME, CENTRAL BANK SALES ARE DEVOID OF FOREIGN REMITTANCES”  Quote:  “the central bank sold today, during its auction for buying and selling US dollars, 43 million and 500 thousand dollars…”  They have told us Iraq needs about 60 million in currency auctions sales a week to meet the demand of the Iraq economy. So this sales is just about where they expect it.   Also this time the auctions sold only CASH and no large electronic transfers…  [post 1 of 2]

Mountain Goat – Dinar Guru   Did they finally get it under control using the new platform installed by the US Treasury?   Remember it was going over 200 million most weeks and the difference was being stolen and not part of the economy…To me this is very good news…It matters in stabilizing the monetary system of Iraq. We need this before they will pull the trigger on any reinstatement. When the CBI says they need ‘stability” this is all part of it.  [post 2 of 2]

Pimpy – Dinar Guru  I think this [stability of the dinar] is going to be an issue for the first couple of months going into 2023 but after that there should be some stability and then growth for the Iraqi dinar…

Paulette – Dinar Guru  If the new rate does not directly apply to both old and new currency, the CBI will have created a Multi Currency Practice structure in violation of the IMF Article 8.  Therefore, the IMF will not be able to authorize a Reinstatement due to Iraq being in violation of Article 8.  This would also prevent full ascension to the WTO.  Certainly the plan for Iraq cannot be to run their country on USD forever.  The underlying fundamentals for holding IQD are sound.  The implementation of the “Delete the Zeros” project will tell us just how sound.

Militia Man – Dinar Guru  Article:  “Iraq achieves the largest purchase of US Treasury bonds in 10 years”  Iraq holding US Treasury Bonds doesn’t suggest their is an issue with the value of the Dollar or they wouldn’t be net buyers. They know what the UST has in foreign reserves.. As in IQD, being one of the largest. All boats rise with the tide, Iraq included..

Nader – Dinar Guru  Two things you’re gonna see.  When they stop selling and buying [dinars] at the banks for a week or two.  When you see new very small currency come out – 1, 5, 10, 20 maybe 25, 50, 100.  Now you can smile and say they made it.

Pimpy – Dinar Guru  The news as usual has to do with the dinar exchange rate.  Every day one to two articles about changes to the exchange rate, thought about changes to the exchange rate, Central Bank of Iraq saying there’s no change to the exchange rate, Stock exchange playing havoc on the exchange rate, one thing or another is in the news about the exchange rate and this causes a lot of confusion…

Clare – Dinar Guru  Article:  “The volume of trade exchange between China and the Arab countries amounted to 300 billion dollars”  WHAT WE ARE WITNESSING IS HISTORIC!…THAT IS A LOT OF MONEY AND A HUGE “SHIFT” IS TAKING PLACE RIGHT BEFORE OUR EYES!

Pimpy – Dinar Guru  Article:  “Sudanese advisor explains about (fluctuations) the exchange rate of the dollar”  The paragraph caught my attention… “The collection of foreign currency is increasing to meet the requirements of foreign trade and is achieved immediately.”  It looks like Iraq is close to stepping on the international scene and playing a much bigger role here sooner than later, which is exactly what we want.  But it doesn’t help that Iraq has to finish with infrastructure, help build up the private and public sectors and get away from relying so much on oil…they appear to be on track…

Mountain Goat – Dinar Guru   Article:  “WHAT IS MEANT BY CURRENCY FLOAT? WHAT ARE ITS ADVANTAGES AND DISADVANTAGES?”  This article is a VERY GOOD lesson in what it means to FLOAT a currency. ...they can’t float the dinar in the program rate with the currency auctions and must reinstate it to the global markets. Mainly it’s because hint hint…to float you need access to the markets and traders. This will be when we go the bank to exchange…floating the IQD on FOREX can solve much of the issues with the dinar monetary policy in Iraq. This once again proves the move to FOREX should have happened a decade ago when Dr Shabibi, then the CBI director, lined up the dinar to go to FOREX in January 2013…I ask, why now publish such an article?

Paulette – Dinar Guru  IMSO, the rate will have to apply to both new and old currency as the CBI has stated the 3 000’s will coexist with the NSCN’s for at least two years and upwards of ten years.  A few weeks back, the CBI again stated that they are not going to remove any currency denominations when they unveil the 20,000…I hope I am right as the release of the 20 absent a 20,000 is another indication that the new rate will directly apply to all.

Militia Man – Dinar Guru  The move by the US Federal Reserve Bank has their [Iraq’s] attention…What the USFED did was to put a fire under the bus with them in it. The reduction in the dollar sales has had a huge impact on what we are witnessing. The USFED told us they are not backing down. The CBI is obliged to meet their requirements now…We have heard there is an urgency to get this over the line. I am fairly sure the fire is stoked enough to do so.. imo This is good.

Mountain Goat – Dinar Guru  As we end 2022 the news is heating up over what to do with the Iraqi dinar and save Iraq. We have been reading articles for over a year now on how to fix it and increase the purchasing power of the dinar. But the CBI had other plans in the White Paper and they needed to reach historic levels of reserves in order to make their next move. Yes, there is some pain the process but better to suffer a little now and then later celebrate when the prosperity and abundance comes.