Dinar Observer Daily

Mountain Goat – Dinar Guru   The news from Iraq this period is all very good and moving in the direction that we could possibly see the reinstatement soon. I do not have a date sorry!  All these efforts they are now taking for electronic banking, Point of Sale, electric grid, 2023 budget, etc. projects are all part of the equation leading Iraq’s monetary system to where it needs to go… just relax and let the process work its way through…

Samson – Dinar Guru  Article: “The Foreign Minister reveals the details of Washington ‘s visit: There are no American conditions, and the currency will soon stabilize” IMMINENT STABILIZATION OF THE EXCHANGE RATE

Henig  – Dinar Guru  Article “Revival of hanging gardens in Iraq” Quote “The Central Bank of Iraq is witnessing in the design of its new building hanging gardens that bring to mind…one of the seven historical wonders of the world…the implementation of the first listed hanging gardens in Iraq, which will decorate the roof of the base of the new central bank building…”  These cats are positioning themselves for a new Renaissance.

Paulette – Dinar Guru  Baghdad is finally in the driver’s seat.  Let’s hope the Coordinating Framework turns out to be the good guys. We are at a time that nobody truly knows who is good or bad in this world…My biggest question is will Nouri al-Maliki turn out to be good, bad or flipped?  If I knew the answer, I would have a better understanding of where the RI process currently lies…

Pimpy – Dinar Guru  I can tell when I’m speaking to people that they’re confusing what the exchange rates are.  There are different types of exchange rates…One is the official rate, which is 1300 dinars for every dollar.  The other one is the market rate, which is 1460 dinars for every dollar...the market rate, which is like the black market rate, is what people are willing to pay for the US dollar.  They’re willing to exchange 1460 dinars for every dollar.  In other words they will pay you more to get their hands on the US dollar…this is causing a problem.  [Post 1 of 2]

Pimpy – Dinar Guru  You’re looking at a 160 dinar difference between the two rates which is equivalent to 11 cents.  That doesn’t sound like much but it does add up quickly.  If you had $1 million dollars and you want to go buy the Iraqi dinar on the black market at 1460 dinars…you would get 1 billion 460  million dinars…You would take it into the bank and sell it to them for 1300 dinars for every $1 and you would make a profit of 160 million dinars…$109,594…of course it’s illegal to do that but there are people out there who do it for you. [Post 2 of 2]

Nader – Dinar Guru   If you talk about the private sector look at it a year ago and look at it now.  It’s gone 60%-70% better.

Clare – Dinar Guru  Article:  “The power of speculators and currency traders is delaying the government’s measures to implement the new exchange rate”  Quote:   “…despite the government’s good decision regarding the exchange rate, which to some extent stopped its rapid and continuous rise, its implementation procedures are still slow.“

Pimpy – Dinar Guru  Article: “We agree with Washington on the dollar and the results will appear in the markets”  Some interesting choice words that were used in here.  I don’t want to make a big deal out of it but it is definitely something to think about.  We know Washington and Iraq have come up with agreements to do something about the exchange rate.  Keep in mind this is after the current exchange rate was already announced to the world.  So whatever agreement they got coming up here sure sounds like another exchange rate change coming in the future.  [Post 1 of 2]

Pimpy – Dinar Guru  Quote:   “There is a new mechanism that will contribute to the stability of the exchange rate in the market in the coming days and at the official rate.”  Again, stay grounded…But the fact that they’re talking about mechanisms to help with the exchange rate – we don’t know what that is.    What exactly are these mechanisms?  What are they doing to stabilize the currency?  I’m curious what’s going to happen here.  Now I am feeling a little optimistic because everyone thinks I’m such a naysayer but that’s not the case.  I keep telling people they’re going to go up in increments.  [Post 2 of 2]

Militia Man – Dinar Guru   2023 budget…we’ve been waiting for this to happen…they’ve been pushing it out…for months.  They’re going to have it on the table as early as Tuesday…potentially to the parliament by Wednesday/Thursday.  We all believe you need to have an exchange rate for that to happen.  Will they expose that exchange rate that’s going to be to the budget by the CBI prior to giving it to the Council of Ministers or parliament?  We should be looking for that…

CharlieOK – Dinar Guru  Articles are out there stating that Baghdad and Kurdistan are close to negotiating the HCL. This is good news. There will be…no publicized public budget or rv without Baghdad and Kurdistan agreeing on the HCL… Let’s hope this gets behind us pronto.

Henig – Dinar Guru  Article:  “Al-Awadi: We agreed with Washington on the dollar and the results will appear in the markets”  Quote:  “There is a new mechanism that will contribute to the stability of the exchange rate in the markets in the coming days, and at the official rate“.

Pimpy – Dinar Guru  How the exchange rate is going to take place is not the way other people are saying it.  It’s going to happen one of two ways…It’s going to go up in increments…the dinar was at 1450 dinars for every 1 dollar and they kept mentioning they were going to change the exchange rate.  Everybody was…saying, ‘Oh, it’s going to be over a $1 for every dinar.’  I was like, no, it’s not.  It’s going to be a small increase.  They went to 1300 dinars for every dollar.  That’s how they’re going to to it, in small increments.  [Post 1 of 2]

Pimpy – Dinar Guru  Now having said that, there’s a good chance it might go up maybe one more time…they have not put out their budget yet and there’s a good chance we might see another small increase.  Really depends on how the 1300 dinars is affecting the economy… they’re still focused on the exchange rate…even after they make the change to 1300 for every dollar.  I’m curious to see what happens once the budget goes out…because then we know whatever rate it is…unless they intend to make an amendment to the budget.  [Post 2 of 2]

Nader – Dinar Guru  It’s weird this week was not big news.  Nothing coming up.  It’s really weird.  I don’t know why they stopped this…they didn’t do anything special.  They didn’t do anything can make us happy this week…It’s not normal.  Why would they stop? All sudden they stop talking about what we need and what we want…

Pimpy – Dinar Guru   We’re still waiting on the budget because the budget will tell us a whole lot more.

CANDYKISSES – Dinar Guru  Article:   “The government to (Baghdad today): We agreed with Washington on the dollar and the results will appear in the markets”  Quotes:  “The effects of these dialogue and agreements will be tangible in the near future, especially with regard to the dollar and exchange rate crisis,” he added.”,   “There is a new mechanism that will contribute to the stability of the exchange rate in the markets in the coming days, and at the official rate,” he explained.“

Pimpy – Dinar Guru   Iraq’s foreign currency assets got above $90 billion dollars which is good for Iraq.  Plus they increased their holdings in gold.  Unlike Vietnam who had to use all of their foreign currency assets, while most of them, just to try to keep their currency exchange stabilized.  That’s what you don’t want to happen to Iraq.

Militia Man – Dinar Guru   The historic event was the meetings in Washington DC.  They were all about economics…the exchange rate…reforms…Iraq moving to a private sector and all of those meetings were successful.  Everybody’s in agreement…all those things happened and they happened quickly.

Clare – Dinar Guru   Article:  “A new record… Iraq’s hard currency reserves amount to $115 billion”  Quote: “Saleh said…Iraq’s reserves of foreign currency amounted to 115 billion dollars, which is the largest in its history”

Sandy Ingram – Dinar Guru   Article:   “The most mysterious..What did the Iraqi delegation achieve in its visit to Washington?”  There was more about the meeting than the mainstream US press was revealing…there as a media silence surrounding the visit.  The visit lasted 6 days…this is what we do know. 1. Daily auctions are a thing 0f the past.  2…Redirecting the Iraqi energy sector away from Iran.  3…Accusations against the Iraqi banking sector that allowed the Iranian regime to evade western sanctions.  4…Money laundering…  [Post 1 of 2]

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.