Dinar Observer Daily

Militia Man – Dinar Guru  If you’re trying to buy widgets at 1310 dinar to a dollar you can’t get very many widgets…Once they change the value of their currency to reflect the Real Effective Exchange Rate things become a lot cheaper for Iraq especially if they have the backing to prove they have…oil, gas, natural resources, tourism – all those things…they can easily meet a similarity to Kuwait.  They’re a bigger country, they have more assets…They have everything going for them…they’re definitely undervalued at this time.

Militia Man – Dinar Guru   Article “Towards a new global financial system Economical”  This article doesn’t go so far as to suggest Iraq is in the running or even applying to be a member of BRICS. Iraq may fall into the category of interested and monitoring developments while collecting and analyzing information.  We will be watching close…

Breitling – Dinar Guru  Look at all the countries surrounding Iraq and you look at the values of the currencies and you average it out.  They don’t want to be below that average.  They don’t want to be too far above that average because they’d be too expensive to do business with them.

Kaperoni – Dinar Guru  Iraq made a decision some years ago that they want to raise the exchange rate based on the economic success of the country. This is the only way Iraq could afford such an event. Only with the success and growth and increase in GDP can the dinar go up in value. This takes time.

Militia Man – Dinar Guru  The Central Bank put out strict measures…now they’ve put out a 4th package.  That 4th package is to reduce the interfaces for people to be able to get the dollar.  Once they get rid of the dollar, what happens?  The parallel market is going to get even worse… because …supply and demand.  If you reduce the dollar, it’ll become so expensive that they’re not going to want to use it.  There will come a time where because they can’t get it they’ll be forced to use their own dinar.  That’s what this package is dealing with.

Pimpy – Dinar Guru   For 20 years Iraq has passed and was able to implement a budget even with the bad exchange rate… But people out there say, ‘It’s impossible, this budget won’t be able to make it without a higher exchange rate.‘  That’s not true.  Who said they can’t make it without a higher exchange rate? …the exchange rate does affect the budget but…they already know the value of their currency.  The entire budget is based on that value…I’m not saying you guys [Iraqis] couldn’t appreciate a much higher exchange rate.  I know we would love for you guys to get one…but…those individuals out there swearing up and down Iraq is not going to be able to make it without a higher exchange rate for these budgets, that’s just a false claim…

Militia Man – Dinar Guru  Article:  “Development Fund.. a step for economic advancement and investment revival”  This article is packed with data! They are talking about the “nucleus” of the projects that will get Iraq into the real world of infrastructure build out, to get the development project off the ground and into to the private sector…It is all about show time…The costs associated with building networks of industrial cities, infrastructure, etc.. It is going to be massive and effectively far more cheaper once they adjust their currency to reflect a real effective exchange rate.. Amazingly cheaper IMO…

Mountain Goat – Dinar Guru   the BIG, BIG news…I quote- “the technical advisor to the Prime Minister, Muhammad Sahib al-Darraji, confirmed that Iraq did not actually come out from under Chapter Seven, indicating that the Federal Bank controls the dollar.”  Actually “officially”…Iraq has been “fully” released out of Chapter VII. So why does this advisor say otherwise?  …the US won’t let Iraq get out their control of the billions of dollars of oil revenues flowing through the NY Chase Bank. That is really the issue...So, what situation does this put us in for getting the RV?   [Post 1 of 2….stay tuned]

Mountain Goat – Dinar Guru  Common sense dictates that the US will have to let go eventually and allow the full impact on Iraq of getting out of Chapter VII and freeing up their oil $$ under their control once again. The mere fact that we are seeing an article like this one tells us the pressure is building to let go. This may take some actions from the UN to force the US to let go. They will also have to let go of OFAC sanctions on the dinar, which are still be imposed on it.  If the constitution is fully implemented and the Pillars of Financial Reform are completed, we may see the RV and the Reinstatement.  [post 2 of 2]

Militia Man – Dinar Guru   They are going to need the exchange rate change to value the oil and gas law so they can distribute the wealth to the citizens.

Paulette – Dinar Guru  Community Comment:   “At 1310 they could roll it [the budget] out but would run out of money due to high cost of materials needed to be brought into country without a new rate, a new rate will allow them to buy more materials …1310 will bankrupt them internationally”  I am not sure why they would run out of IQD to bring materials into the country.  I thought that they have to pay for all imports with USD,  The IQD is sanctioned and not able to be used to pay for imports.  Isn’t this the whole reason for Currency Sales of 200 million plus daily in order to pay imports?

Breitling – Dinar Guru  There’s an email being blasted out about Warka [Bank in Iraq] selling stock in Warka, where you can buy shares and own a share of Warka.  I have not been able to confirm that and I know people who work at Warka so that’s not a good sign.  Even if they did offer that I sure as hell wouldn’t get into that…It’s backed by the CBI but it’s also sanctioned by the CBI.  Until they open everybody’s account I’m not doing anything with Warka.  I’m not afraid of losing my dinar or anything like that and if something like that did come up we have a lock tight mother scratching lawsuit that we will win and they will suffer.  I’m not worried about that.

Militia Man – Dinar Guru   …they are doing a lot with the budget and finalizing  disbursements and allocations. They are getting ready to spend money.  Some of those time frames are coming on us quickly…I think things are pretty darn exciting.

Pimpy – Dinar Guru   Article:   “The Iraqi delegation in Washington paves the way for the Sudanese”  Looks like the delegation from Iraq is here in the United States meeting with our officials over here in Washington.  Looks like they’re doing all they can to prepare a visit from Al-Sudani…

Militia Man – Dinar Guru  They want to ween themselves off the dollar.  We’ve seen numerous things about the dollar being phased out because the multi-currency practices aren’t allowed and the black market is an illegal market…they don’t want that illegal side of things anymore…

Samson – Dinar Guru  Article:  “The Iraqi delegation in Washington paves the way for the Sudanese”  Quote: “…there are usually preliminary meetings related to the strategic framework agreement, prior to reaching the summit meeting between the two parties,” and it is likely that “this meeting will include US President Joe Biden and Iraqi Prime Minister Muhammad Shia’a Al-Sudani.”

Mountain Goat – Dinar Guru   Article:  “CENTRAL BANK THREATENS EXCHANGE COMPANIES WITH UNPRECEDENTED MEASURES”  Quote:  “The Central Bank of Iraq issued new directives that included strict measures on exchange companies, reaching the point of withdrawing their licenses and denying them access to the window of buying and selling currency.”  WOW!  So the CBI is VERY serious and its about time!

Pimpy – Dinar Guru   I know they have been approached by the BRICs  but you’re not going to see them go because the IQD and Iraq is still under sanction and restriction by the United States government.  Not to mention we hold their gold and we hold their foreign asset reserve.  So no they’re not going make that move.  I wouldn’t worry about it, not at the moment…

BGG ~ Personally, I think it would be the best thing in the world for the Dinar Investor if they did join some “Brics type” union APART from the US. They could even be a reserve currency (since their oil would be bought and sold in Dinar)… meaning the currency you hold would be vastly more valuable. Forget what the US thinks…

Petra – Dinar Guru   What is stopping them from moving forward?  …yes, the rate…AND…Sadani’s integrity with the people, as well as Alaq and his position as “independent” from the GOI...With the article indicating the Parliamentary Finance Committee recommending that the Budget to be released on the 18th is a “message” to Alaq to move on the rate!

Kaperoni – Dinar Guru  Question:  “US [IQD] paper holders should be able to exchange in the US for US$ at some point in the future?”  The dinar is a currency of a country therefore it has monetary value that can be exchanged at any time at its current value. Any alternative process is unknown…

Militia Man –  Dinar Guru  Iraq has been destroyed and war torn.  They are going to need the IFC (International Financial Corporation)…Their main business is taking countries to the private sector.  It’s phenomenal.  Anybody that says, ‘This will never happen.  Is not going to happen.  It’s a scam.’  They’re misled.  That’s all there is to it.  This country is going international…

Jeff – Dinar Guru   Everybody’s…focusing on releasing of the the budget monies.  They are under the assumption that releasing the budget monies brings forward the rate change.  I’m sorry but it doesn’t work that way.  There’s other steps that have to happen that introduces the rate change.

Pimpy – Dinar Guru  Article: “Parliamentary Finance likely to launch budget funds after July 18”  So here we are.  We’ve passed the budget.  It’s made the Gazette and still they have not allocated out the money.

Clare – Dinar Guru  Article “Central Bank: The volume of foreign reserves increased to 113 billion dollars” Quote “Today, Saturday, the Central Bank of Iraq announced that the volume of internal debt has risen to about 70 trillion dinars, and the volume of foreign reserves to 113 billion dollars.

Petra – Dinar Guru  Question: “Would it be your opinion that the UST folks showed up to click Sudani’s heels, or is it more than that?”   It is clear Sadani let them in because his people could not get it done, so they brought in “the pro’s” to make it happen…He wants this now…they [UST] were not welcome with open arms because it demonstrated their inability to “perform!”...if they had done their job…there would have been no need for the UST to travel back to Iraq…Sadani made the commitment…the UST is there to get it done. As to their role, I can only speculate that it was due to the lack of progress with executing the new rate, new notes, etc.

Enorrste – Dinar Guru  They’re going to switch from a ‘Keep my money in the mattress’ economy to forcing these people to take their money out of the mattresses and to put it into banks and the banks will then send the money to the central bank and the central bank will burn it...If they want to do any international trading at all they’re going to have to use electronic methods such as Visa/MasterCard…The process is beginning.  This is really key to moving toward getting to the float, which is what we’re looking for.

Yada – Dinar Guru  Article:  “A statement from the Central Bank regarding the campaign to support the dinar”  Quote:  “…the Deputy Governor of the Central Bank, Ammar Khalaf, announced the success of the campaign to support the dinar, and while confirming the application of controls that helped stabilize the exchange rate, he pointed out that there is no problem with the
amount of foreign currency supply.”  This statement will nullify a few in dinarland who think there too much money out there.  Fact is, that money in the central banks of other countries will be used to invest and buy in Iraq because they will only be using dinars. We are in the best of positions, the one about to enter the banks.

Militia Man – Dinar Guru  Sudani…asked to come to the USA and was denied. My view is he was told…three items to get to work on. He did. We now see the UST show up after. So, it appears an assessment was made as to where they were in getting this completed and likely found they were sitting on the ball on the side lines.. not good. Hence the arrests, the Rafadain Bank shake up, etc.. The level of focus now is fascinating to me. The IFC / WB still in town!!  Al-Alaq having had a progress report that looked good !

Kaperoni – Dinar Guru  You’ve got a brand new 30 to 50 story Central Bank building that’s going to be state of the art and you’re going to be represented amongst the world as the Central Bank of Iraq but you’re going to have a weak currency or a currency that doesn’t reflect the actual economic success of your country?  I don’t think that’s going to happen.  I think that’s why they’re launching…the stock market, the diversification of the economy, all of that is a prelude to 16 months from now.

Mountain Goat – Dinar Guru   Article:  “IRAQ: REVITALIZING THE STOCK MARKET”   Article quotes:   “…there is an urgent need to activate the role of the stock market as a mirror reflecting economic activity in the country“;  “It is said that the size of the cash block that is hoarded outside the banking circulation space amounts to about 70 percent of the cash issued”  Remember a lot of this cash is outside the country in our pockets and they won’t get it unless they reinstate the dinar and we can go to the bank and exchange at a rate we want as investors. Heck they sold us this currency in a time of need and now, as they are so rich, they have to pay us for it with a higher exchange rate.