Dinar Observer Daily

Militiaman – Dinar Guru   Article:   “The Iraqi president refuses to accept Al-Maliki as his deputy, and the Sudanese is keeping the security institutions away from the control of the militias.”  This is a welcome sight to behold…suggests that the PM Sudani is playing the line that was drawn in the sand by Al-Sadr…The GOI has forward movement and an agenda likely with timelines to be complete and along side and in tandem with the CBI…lets see how the GOI and the CBI play their cards.

Samson – Dinar Guru  Article: “Parliamentary Finance clarifies the return of the dollar exchange rate”  Quote:   “A member of the Parliamentary Finance Committee, Jamal Kougar, explained, today, Friday, that changing the dollar exchange rate is related to the decisions of the Central Bank, pointing out that the bank has assurances that the exchange rate will continue without any change, at least during the next year.”

Petra – Dinar Guru   One is curious about all the subterfuge going on the last 3-4 days.  How many times does a country have to “defend” in one aspect the fact they are “not” going to change the exchange rate….and then, we see articles coming out from within Iraq that this is the very move that needs to be made.  Couple that with the input from the WB/IMF and other agencies telling the country to move forward and open themselves up for partnership, investment, and international business.  It doesn’t get clearer when one of your largest trading partners (Jordan) opens up a bank down the street.

MilitiaMan – Dinar Guru  Article:  “Saleh Al-Hamashi : Next year’s budget may exceed 170 trillion dinars”   Let’s say the government acts on Article 110 of the constitution and if they drop 3 zeros from the exchange rate the ratio becomes very interesting. It gets much closer to a 1:1 ratio than it is now be sure. I could be off, but, it sure looks interesting.

Pimpy – Dinar Guru  Article:  “The secret of the Sudanese government’s retreat from changing the exchange rate of Iraqi dinar”  Sudanese made a promise to the people that he would…change the exchange rate…now all of a sudden he appears to be backpedaling just a little bit.  Quote:  “Sudani confirmed…Tuesday that the decision to change the exchange rate of the Iraqi dinar against a dollar is a prerogative of the Central Bank and we are committed to implementing what the Central Bank deems appropriate.”

Nader – Dinar Guru  You see all what’s going on with the exchange rate…they took it down, they can easily reinstate it and the economy will not be touched…especially now…it’s booming in Iraq.  It’s nice you can get money left and right…

Breitling – Dinar Guru  Watch Iraq.  It’s very positive.  It’s going to happen…but you need to be making money in other areas because we can’t control the date.  I think a lot of people don’t listen to that advice…Iraq is very positive.  I’m not getting out…I haven’t heard anything negative to this day, seen anything that going to stop them from a revalue.

MilitiaMan – Dinar Guru   …With the World Bank, IMF, UN, USA, etc, giving the green light of support we could say that the time is now…The CBI has nothing but good reserves, gold reserves, high oil pricing, taxes and tariffs are electronic as is more and more of the Government, inflation under control and the green light.. Looks like a perfect storm for an RI…

Sandy Ingram – Dinar Guru   The new prime minister of Iraq said the following on Tuesday, Its government with the help of the Central Bank of Iraq will do is best to increase the price of the Iraq dinar against the U.S. dollar.  Article: “Iraqi premier to raise Iraqi dinar value”  He did not say what the revalue would be.

Pimpy – Dinar Guru  The 8th fastest growing economy, $9 billion a month in sales, a possible $200 billion in surplus money.  It just seems like Iraq is teetering right on the edge of finally getting back on track and being a great nation and ready to do business internationally.  I’m looking forward to it and it’s going to benefit the Iraqi people…if they prosper then hopefully…their currency will increase in value…

MilitiaMan – Dinar Guru  Article:  “Bank of Jordan opens its first branch in Iraq” Jordan opening  a bank branch is likely for that they know there is going to be massive trade. Opportunities will abound like ever before in the 60 years they have been doing business. Iraq will be a central hub and Jordan would know that and is acting on that fact now.. A good thing…

Samson – Dinar Guru  Article:  “Announcement of a tender for the supply of currency counting and sorting machines”   Quote:   “The Central Bank of Iraq announces a tender for the processing of currency counting and sorting machines, according to the technical specifications and conditions contained in the sixth section of the standard document for the processing of goods.“

Nader – Dinar Guru  My opinion is if the CBI does anything with it [the dinar rate] it’s going to be in 2023. Everybody’s gonna have to be patient.  You have no choice…that’s the truth of it…sometimes the truth hurts.  The truth is brutal sometimes.  It’s brutal but you have to accept it…

Pimpy – Dinar Guru   If they do change the rate, there’s no doubt that at the very least they’re going to change it back to the 1190 which was the previous rate.  That’s like a 22% or 27% increase in value…if it jumped up to a $3.22 rate you’re talking about a 4000% increase in value.  That’s just not going to happen.  I’m not saying it can’t get to $3.22 but it’s not going to happen instantaneously.

MilitiaMan – Dinar Guru  Article:  “The World Bank: The policy of changing the dollar exchange rate is the prerogative of the Iraqi government“.  The World Bank looks to be giving the green light on the policy of changing the dollar exchange rate. It is the Iraqi Governments prerogative.. The Article 110 of the constitution talks about this. No doubt this is giving the GOI support to get on with reforms..

Samson – Dinar Guru  Article:  “The World Bank: The policy of changing the dollar exchange rate is the prerogative of the Iraqi government”

Mountain Goat – Dinar Guru  I need to cover something that was told to me almost a year ago and that is about the timing of the RV. In this news from my CBI contact I was told that they were working on the project to delete the zeros followed up with the reinstatement of the IQD. They said they had concerns about the election and they were going to wait until they see how the elections turn out to get the stability they needed... Will the CBI then act upon its said goals of completing the currency reform? The timing could not be any better as they would have to conduct the project to delete the zeros in the next couple months to get ready for a January 2023 reinstatement back to FOREX…

Militiaman – Dinar Guru  Article:  “In the document.. Parliamentary signatures to restore the dollar exchange rate“  Looks like they are making headway gathering signatures for the country and the government to be ready for the next move. Seat the government and issue currency publicly. 1190 was not a previous official rate. The demonstrators are getting antsy.. I would think that the Gov is on notice… Get seated or get left out.. imo..

Sandy Ingram – Dinar Guru  Big news and is one of the reasons we believe Iraq will come full circle and revalue their currency.  Their actions say international connection.  Article “Iraq is building the largest port in the Middle East and it will be one of the largest ports in the world when completed…rival the Suez Canal in Egypt…

Clare – Dinar Guru   Article:  “The House of Representatives grants confidence to the Sudanese cabinet“  “Al-Sudani: Our cabinet has won the confidence of the House of Representatives”

Pimpy – Dinar Guru  I think the first move is going to be to restore the dinar to its previous exchange rate…they’re saying 1200 dinars for every dollar…The real question is going to be how long until they do it again.  My guess is they’re going to wait somewhere around 90 days to see what kind of effect it has on Iraq and the economy as a whole.  If it doesn’t look like it’s doing too much damage I think they you can expect another increase at the beginning of next year…and a possible second increase in the year 2023.  How much of an increase really depends on how the economy is affected over in Iraq and what’s going on globally...

Jeff – Dinar Investor   Today is a critical day for Iraq and our investment.  Article:  “Deputy: Parliament will vote on 70% of the Sudanese booth today”  That’s approximately 16 out of 22 ministries will be voted on…they’ll be voting on that cabinet around 6pm later today their time.  Iraq is sitting at 95% ready to revalue.  They’re right at that finish line.  They’re ready to almost do this.  Once they vote and complete that government they will have met the central bank’s requirements 100% to be eligible to revalue the currency.

Samson – Dinar Guru   Article “The House of Representatives sets six in the evening as a date for voting on the ministerial curriculum and cabinet”

MilitiaMan – Dinar Guru   …Lets see what the next couple of days bring us… From the looks of it there is serious anticipation for the GOI to have a vote on the cabinet.. There are side bar things that are going on in the Middle east starting tomorrow…Of which has implications to Viet Nam imo as well… The middle east and emerging markets are going to explode again into next year. Much is likely to hinge on what we see in the short term.. Follow the money…

Pimpy – Dinar Guru  They’ve already made it clear as day they were going to change the rate.  As a matter of fact even Sadr, one of his campaign promises was to change the rate at least back to the old rate.  We more likely are going to see the rate change go back to 1190 dinars to start with and then over time slowly build back up.

Samson – Dinar Guru  Article “The central bank resolves the controversy over the dollar exchange rate plan” Quote “...the central bank…does not intend to change the value of the dollar…changes…will create a state of instability…and increase speculative activity in the currency…With regard to the negative impact of the current dollar exchange rate on people’s livelihoods, especially for the poor, the central bank believes that the government can…improve food stamps to mitigate the consequences of dollar appreciation instead of returning it to its old value.”

Nader – Dinar Guru   This article coming this morning in the news… “Parliament Finance Committee, Nermin Maarouf confirmed the Central Bank of Iraq has no intention of changing the exchange rate of the dinar against the U.S. dollar.“

MilitiaMan – Dinar Guru    …Look at the amounts of assets Iraq has. Not to mention the new electronic system in place is returning 100s of billions of dinars…  All of this supports massive value for the exchange rate change success.. imo

Samson – Dinar Guru  Article:  “Iraq’s export of its oil in the form of derivatives instead of crude… It will bring in 60% more revenues, to achieve $15 billion per month”  Quote:  “if Iraq refines all the barrels of oil that it exports at the present time…and exports them in the form of derivatives instead of exporting them as crude oil, Iraq’s daily revenues will reach 495 million dollars, or about 15 billion dollars per month, but when exported as crude oil Its revenue will be approximately $297 million per day, or less than $9 billion per month.”

Pimpy – Dinar Guru  If I remember correctly they said they had no intentions on changing the exchange rate for 5 years.  But that was back in February…What has changed since February?  The government.  Their intentions were to stay with the white papers, do the reform…Since then Maliki and the coordinating framework have taken control and they are building the government right now.  That whole ‘waiting 5 years’ is out the door. We know this because we’ve seen articles within the past 2/3 weeks where they said they’re going to change the exchange rate.  We know they’re going to do it.  And it ain’t going to be 5 years from now...