Dinar Observer Daily

Clare – Dinar Guru  Article: “Fixing the dollar and oil in the 2023 budget and the truth about US sanctions.. “Sami’s Spectrum” reveals the details” Quote:  “The price of a barrel of oil, which has been set so far in the general budget, amounted to 65 dollars…while the dollar exchange rate has been fixed at 1450.“

Sandy Ingram – Dinar Guru   In 2004 the CBI set up the foreign currency auctions as a way to control the rate on the black market.  Now we understand it is the black market that has control and the Iraqi people are not concerned with what the CBI is doing. They’re only concerned with the black market…

Militia Man – Dinar Guru  The UST has Iraq’s CBI in a position to make a exchange rate change, imo.. They are likely at a point now there is no looking back in not doing so.  Show time? It looks that way. There were meetings today with the CBI Governor.

Mountain Goat – Dinar Guru  We are told in an article…that the budget will be in parliament ready for review and vote in two weeks. …That pushes it to early January 2023 to begin the voting process. …So, sit back and hang on. The news is about to get really good….

Clare – Dinar Guru  Article “Central Bank Governor: The measures taken will contribute to achieving monetary stability” Quote “Wednesday, an emergency session of the Ministerial Council of Economy….The session was attended by the Governor of the Central Bank of Iraq, Mustafa Ghaleb Makhaif, who reviewed the measures taken by the bank’s administration to control monetary policy, and limit the rise in the exchange rate of the dollar in the local markets.”

Paulette – Dinar Guru   Iraq’s CBI has clearly told us their plans to Re-denominate their currency including adding denominations all the way to 25 Fils (1/40th of an IQD).  This logically requires a change in rate.  As long as that new rate directly applies to the current notes, we will have the windfall we all hope for.

Henig – Dinar Guru  Article: “Economist: Central Bank policy failed and printed 40 trillion dinars of a new category“ Quote: “He stressed that the strategic vision of monetary policy is wrong, and the Central Bank has printed 40 trillion dinars of the new paper currency of the category of 20 thousand dinars.“

Sandy Ingram – Dinar Guru  Why the IQD/USD exchange rate matters to people in Iraq – Iraqis who are paid in dollars have more purchasing power…people paid in dinars have less purchasing power since imports and exports are paid in dollars (including oil revenue)…the new prime minister of Iraq says he wants to increase the value of the Iraqi dinar…

Pimpy – Dinar Guru  Right now in Iraq the major news is…what the markets are determining is the value of the IQD versus the U.S. dollar.  The IQD continues to lose value…this is why we saw some banks start allowing the Iraqi citizens to purchase dollars…I think I know what it is Iraq’s trying to do.  They’re trying to purchase as many of the Iraqi dinars as possible to destroy them.  You have less currency in circulation.  Think supply and demand.  The less you have of something that people want the more demand there is for it, the more valuable it becomes.

Clare – Dinar Guru  Article:  “After years of delay and disagreement, an agreement was reached by the “majority” to pass the oil and gas law”  Quote:  “there is a political agreement between all political blocs and parties to pass the oil and gas law because of its importance, with the start of the new legislative term of the House of Representatives.”

Paulette – Dinar Guru  It is an interesting dichotomy happening right now as not only did the banks stop buying as much USD but the money changers have also in spite of the rate being at its worst since I have followed.  Why are the Money Changers reportedly being cautious with any purchases of USD when they could resell at a larger profit than they have been able to attain since the move to 1460.  It is totally illogical unless they know that they don’t want to be moving IQD to USD out of fear of being on the wrong side of an economic move by the CBI.

Samson – Dinar Guru  Article:  “After years of delay and disagreement… an agreement by the “majority” to pass the Oil and Gas Law”

Clare – Dinar Guru  Article:  “MP Al-Qaisi: The government is able to rein in the dollar at any moment it wants”  Quote:   “With the hundred billions stacked in the Central Bank’s accounts, and with the tons of gold stored in them; in addition to the treasury bonds in the US Federal Bank, controlling the market is subject to a government decision capable of curbing the dollar at any moment the government wants.  He added, wondering: But when will you take this step!?“

Sandy Ingram – Dinar Guru   All this talk about revaluing the currency is only about taking the currency from 1500 IQD back 1150 IQD approximately to 1 US dollar.  All this commotion does not include the revalue we are looking for.  At least not yet.

Mountain Goat – Dinar    Remember that January is the CBI’s most opportune time to change the rate of their currency to start off their new fiscal year. This is why they push also for getting the budget done by then. I am convinced this is now a factor too. Also we hear, as usual, that the latest HCL changes are going to be accepted and passed. …This is all excellent news.

Clare – Dinar Guru  Article: “Sudanese advisor: Exchange rate fluctuations are temporary and there is no concern about Iraq’s capabilities to impose stability”  Quote: “Salih revealed…foreign reserves have become the strongest in Iraq’s financial history, and its balance has perhaps exceeded one hundred billion dollars, which means there is no fear or concern about Iraq’s financial capabilities in imposing stability in the dinar exchange rates as long as the matter is related to administrative and organizational affairs in dealing with external transfer and foreign currency trading.”

Kaperoni – Dinar Guru  Question: “Can you explain why Libya has the same kind of economy as Iraq and an even less structured government and their Dinar is worth 17 cents to the dollar.”  The key point with Libya is they only have 32 billion dinar in circulation compared to Iraq who has over 80 trillion dinar. It [Iraqi dinar] will remain weak until they reduce the money supply by removing the currency as Iraq ‘s economy prospers…

Pimpy – Dinar Guru  If the restriction on Iraqi dinar were lifted and all of a sudden the exchange rate jumped up high make no doubt about it…you would see me hauling butt down to the bank!

Breitling – Dinar Guru   I don’t see anything negative going on in Iraq…as far as the Iraqi dinar is concerned…like the United States they can screw up a lot and still maintain its markets.  Iraq has that room also because they have a resource everybody needs.  We’re not living off solar panels and Teslas – yet…it’s a long ways away.

Clare – Dinar Guru  Article:  “The Sleeping Wool Shelf” pushes the price of the dollar in Iraq to about 160,000 dinars”  Quote: “Nassif wrote, in a tweet…via Twitter, on the occasion of the rise of the dollar to 154,000 dinars and its direction towards 160, we say, Sleeping, Sharif al-Sawf, and the dollar is suffocating your people.“

Kaperoni – Dinar Guru   The key for Iraq is for them to build a strong diverse economy. In order for them to do that they need outside financial assistance from the world meaning they need to pass laws, create a suitable business environment and encourage investment to facilitate such an economy.  This is the preferred method as it builds a sound economy with a currency and exchange rate supported globally by the world’s financial system.

Henig – Dinar Guru  Article:  “Parliamentary Committee: The fluctuation of the dollar price is the most important obstacle to approving the 2023 budget”  Quote:  “The budget law and its draft are still with the government, and it has not reached Parliament yet, and its provisions have not been finally clarified, which requires expediting its submission to Parliament and presenting it with several readings to reach a final formula for approval.“

Clare – Dinar Guru   Article:  “The Iranian currency recorded the largest decline in its history”  Quote:  “The Iranian riyal recorded, on Thursday, in the Tehran free market against foreign currencies, a new collapse, the highest since the “Iranian Revolution” in 1979, as the price of the US dollar exceeded the value of 400,000 Iranian riyals.“

Pimpy – Dinar Guru  There’s no denying that there has been a ton of news regarding the exchange rate of the Iraqi dinar.  But there are people out there mixing up the truth with BS…what is not being told to you is that the dinar is losing value as the people over there at the Central Bank are making changes to the the banking system.

RVAlready – Dinar Guru   This is a far different circumstance than 15 years ago. We have a PM who said the RV was his first priority…Release is getting closer.

Pimpy – Dinar Guru  Al-Sudani appears to be the real deal Holyfield…a lot of things happening at the same time.  Do I think they’re going to change the rate anytime soon before the 5 years?   We’re just about to the halfway point anyways.  Do I think it’s gonna happen before the five years?  …I absolutely do.  There’s going to be some astronomical change?  No.  I still think it’s going to go up in increment.  The first step is going be to restore back to its original rate of 1190…I’m not trying to be a negative Nancy…the news I report is not negative, it’s realistic…hang tight it’s coming…

Paulette – Dinar Guru  the big move for Iraq is the “restructure”.  The RI just increases their purchasing power on the International stage…

Pimpy – Dinar Guru  Article: “Parliamentary Legal: An extraordinary session of Parliament if it receives the budget”  I’ve talked about this before.  If they can somehow agree on the budget before the end of the year you will see an emergency session called to Parliament to pass it before the end of the year.  That would be great news for the Iraqi people…

Mountain Goat – Dinar Guru  The news this period is almost all about the corruption in Iraq and what they plan to do about it…there is no way out of these corruption schemes unless these currency auctions end. To end them they will have to reinstate the dinar and trade it globally…Why won’t the IMF or the US take responsibility and do the reinstatement?  It is because of all the corruption… It all goes back to…“what comes first the cart or the horse”?  In other words, do they reinstate the dinar and then hope the corruption will end or do they end the corruption first, reducing the risk of failure in the reinstatement? I believe they have taken this second option…

Pimpy – Dinar Guru  Even it they did make an exchange rate change to something like $3.22 it doesn’t do us no good because we have to have a place to go swap it.  We have to make sure that they’re off the restrictions.  That’s something we need to keep an eye on…