Dinar Observer Daily

Mountain Goat – Dinar Guru   The CBI monetary and gold reserves continue to rise as the months roll on and oil continues to stay high. There is talk from my CBI contacts that the CBI is going to back the dinar totally with gold. This does not mean they won’t also have US dollars stashed in their foreign reserves and natural resources as well as the revenues from other sources such as customs and tariffs and tourism to back it up.

Samson – Dinar Guru   Article:   “Al-Kazemi carries 5 “announced” files to New York, and “Al-Ghad Press” looks at the sixth”  Quote: “Al-Kazemi will head a high-ranking ministerial delegation to New York, to participate in the meetings of the United Nations General Assembly…the political crisis in the country will top Al-Kazemi’s discussions with world leaders, led by US President Joe Biden“

Sandy Ingram – Dinar Guru   Article:  “21 million Shiites mark Arbaeen in Iraq’s Karbala” …pilgrims are traveling from Iran, Palestine and different parts of the Middle East to an annual religious celebration.  This massive celebration is in Kabbalah and is one of the world’s largest public gatherings that is held every year in Iraq.  Kabbalah is approximately 55 miles from Baghdad.

Pimpy – Dinar GUru  …Obviously if the oil prices go up this also affects the value of the Iraqi dinar.  No, you’re not going to see any real significant jump or increase [In the exchange rate of the dinar] not yet, with the increase of money that will be coming into Iraq it will increase their foreign reserves, they continue to add large amounts of gold (it seems like every month now) which will only do what?  Secure the Iraqi dinar.  Strengthen it…

Breitling – Dinar Guru  Inside Iraqi the Sunni and Shia want to expand their markets and their markets are in the west.  Russia and China are not expanding, they’re shrinking…the average person out there knows if I’m going to sell something I want as many customers as possible.  That is what Iraq is looking at…That’s all they’re looking at nothing more than that.  So it’s all positive news coming out of Iraq for the Iraqi dinar.

Clare – Dinar Guru  Article:  “The Central Bank of Iraq has three reserves to serve the requirements of monetary stability and development”  Quote:  “This reserve consists of: Foreign exchange papers…Which is estimated at more than (85) billion dollars.  [2nd] Gold…is in the form of bullion or coins in the vaults of the International Monetary Fund…As for the third reserve, it is the special drawing rights: it is the new reserve and it is used to meet the deficit in the country’s traditional reserves and drawing rights are granted to each of the member states of the International Monetary Fund…” [Post 1 of 2]

Clare – Dinar Guru  “These rights are used to settle payments between member countries…Therefore, central banks, including Iraq, seek to buy quantities of gold from time to time. The most recent of which is Iraq’s purchase of a new amount of gold, amounting to approximately (34) tons, bringing Iraq’s balance to (134,4)…which made its classification become the fourth Arab and thirty-three globally. This increase is within the framework of a strategy The Central Bank to manage its assets in order to achieve the highest levels of stability...”  [Post 2 of 2]

Pimpy – Dinar Guru  Article:  “Iraq ranks 47th among the largest economies in the world”  This is great news for Iraq but can you imagine had they had a government formed where they be today?  Having a strong economy is a huge part of them revaluing the Iraqi dinar.  The other two steps are still moving forward which is the accumulation of gold and the accumulation of foreign currency access…those will just help strengthen the dinar…congrats to Iraq despite the fact that they’re in political chaos and they still manage to do very well economically.

Samson – Dinar Guru   Article:  “Al-Kazemi will fly to America tomorrow”   “Al-Kazemi will hold meetings with a number of world leaders, led by US President Joe Biden.“

Samson – Dinar Guru  Article:  “America’s strategic oil reserves fall to their lowest level since 1984“  Quote:  “US President Joe Biden set out in March a plan to release one million barrels per day over six months from the Strategic Petroleum Reserve to overcome high fuel prices in the United States that contributed to sharp increases in inflation.  Energy Secretary Jennifer Granholm told Reuters last week that the Biden administration was considering the need for more releases from the petroleum reserve after the current program expires in October…“

Nader – Dinar Guru  Article:  “CBI sold  +1.2 billion in forex last week“. This has got me confused a little bit…Says CBI sold 1.2 billion on Forex last week…I try to call a couple of times people who works for Forex and ask them if we can invest or buy or sell Iraqi dinar and they says no.  And now this article comes out and says the CBI sold 1.2 billion last week?…Somebody please explain it to me because I don’t get it.

BGG ~ So this guy has one of the biggest Dinar Youtube channels there is… and this is who people listen to?

Says a lot about what people will listen to.

Mountain Goat – Dinar Guru  I know for many of you things seems hopeless for your investment. But I can assure you they are not hopeless. We will see a major shift soon in the USA and this will impact the foreign policy of the USA towards Iraq . It may take until the end of the year to catch up so don’t expect anything until at least January 2023…Things are going to change and the future is very bright for Iraq.

Samson – Dinar Guru  Article “Al-Kazemi’s advisor: The foreign exchange reserve represents real monetary stability for the country”  Quote “Saleh said, “All indicators confirm today that the country’s foreign exchange reserves, which amounted to about $85 billion, including gold, are at a high level of efficiency and represent real monetary stability for the country.”

Nader – Dinar Guru  I think the first week of January they gonna launch the 2023 budget and the good news is the rate is in it.  But I don’t know the rate. The rate is in it…

Kaperoni – Dinar Guru  If the dinar is ever going to go up in value it will be the result of Iraq building a private sector diversity economy. But only if they pass laws, encourage investment, and diversify away from oil.  A country’s currency exchange rate is never a random act.   It’s based on economic growth, GDP, etc. Only with the success and growth of Iraq’s economy can the dinar go up in value.

Pimpy – Dinar Guru  We’re closer now than ever before to a civil war over there in Iraq… Article:  “Iraq is Nearing the Brink of a Shiite Civil War”  ...until all this crap is settled you’re not going to see any changes whatsoever in the Iraqi dinar.  We see they’ve done a lot of great things for the Iraqi dinar – more gold.  More foreign currency asset buildup but if they’re going to have a civil war, the country is going to be unstable.  This is not good. 

Frank26 – Dinar Guru   Article: “High foreign reserves of the Central Bank of Iraq”   …because the gov of the CBI controls the auctions, increasing foreign reserves instead of decreasing them by having Iran steal them. 

Samson – Dinar Guru  Article:  “The World Council: Iraq is among the Arab countries with the most gold reserves”  Quote:  “Iraq still maintains its 30th position globally with the largest gold reserves out of the 100 countries included in the international financial statistics for global gold reserves and for the second month in a row after purchasing 34 tons in the month of June, when these reserves amounted to 130.4 tons, which represents 9.5% of the remaining his other currencies…”

Samson – Dinar Guru  Article:  “Association of Private Banks: The percentage of financial inclusion in Iraq has risen to 33.5%”   Quote:  “…the percentage of financial inclusion increased from 22.5% during the year 2020 to 33.5%, an increase of about 49% from the year 2020, due to the Central Bank’s policy to support the project to localize employee salaries and increase the opening of Banking branches, digital transformation support, electronic wallets, payment points and ATMs“

Pimpy – Dinar Guru   Article: “Iraq’s gold reserves rise to 130.4 tons”.   Iraq continues to add to their reserves.  They now have 130.4 tons of gold.  Quote:  “Iraq ranked 3rd in the Arab world and 30 in the world…”  ...with the gold reserves in Iraq increasing and the foreign currency reserves also increasing this is huge for the support of the Iraqi dinar.  They’re a big part of what makes a currency strong.  I see some big steps being taken that do indeed help the Iraqi dinar in a big way...

Mountain Goat – Dinar Guru    The new lower denominations that we are looking for are not yet in circulation. Other countries are not yet exchanging the dinar. There is no reason for them to be exchanging.

Clare – Dinar Guru  Article 1 “The Central Bank separates the work of the Deposit Insurance Company, the development of the payments system, and cooperation with major international banks”  Article: 2 “The Central Bank announces international cooperation with Iraqi banks”  GREAT ARTICLE!  The Central Bank announces international cooperation with Iraqi banks.

Breitling – Dinar Guru  Let’s talk about Iraq and the threat for Iraq to add value or not to add value.  Right now they’re making a ton of money.  They’re not worried about it.  It doesn’t mean they’ve shelved trying to be Swift compliant and trying to open up their markets to the west.  They’re still working on that right now.

Sandy Ingram – Dinar Guru  Article: “Law proposal includes financial aspects and $100 billion reserves expectations”  Iraq has never experienced or witnessed this type of growth before.  Iraq expects the currency reserves to reach 100 billion if oil prices remain high until the end of the year.  The technical advisor to the prime minister explained that this figure will support the stability of the Iraqi currency.  [Post 1 of 2]

Sandy Ingram – Dinar Guru  Here’s why this is important – someone within Parliament wants to implement a new law surrounding finances…it appears the white papers are 100% in effect and the foundation of Iraq is sealed.  It does not matter who the next president or prime minister is if the laws of the federal court are followed.  Iraq will grow financially regardless of the political environment. [Post 2 of 2]

Samson – Dinar Guru  Article 1:   “Al-Kazemi’s advisor : The financial surplus may reach 25 trillion dinars at the end of the year”  Quote: “…while noting that the inflation rate rose 10 times due to the change in the exchange rate.” Article 2:  “Oil pushes Iraq’s cash reserves to a historic high” Quote:  “The country’s reserves have reached the highest level achieved by the central bank since 2003,..gold reserves exceeded 130.4 tons, worth $7 billion, bringing Iraq to the thirtieth place globally and fourth in the Arab world…“

Pimpy – Dinar Guru  And the crowd goes wild!  Apparently a new lower denominated dinar is flying around the dinar community.  People are celebrating…If indeed the central bank was issuing five dinar bills well then that would mean the dinar exchange rate would have to be up there high enough to give us some type of value.  Who knows maybe…1 dinar for 1 U.S. dollar.  Maybe 2 U.S. dollars for 1 dinar…if a lower denomination was indeed issued then that would mean that a rate change is coming and that’s what everybody’s excited about... [Post 1 of 2]

Pimpy – Dinar Guru  Let’s take a look at it…this is a bill…As a collector this is exactly how I’d love to see it – Nice, flat, crisp, centered, no marks, no folds, nothing and a protector just like this.  But that’s just it.  It’s a collectable people.  This is from the 1980s.  This is not a new bill...(See eBay – Iraq P-70 5 dinars year 1980 Waterfall Uncirculated Banknote )…it’s a beautiful note.  I like the colors but sorry people that is not a new banknote... [Post 2 of 2]

Breitling – Dinar Guru   If you look at the news for the average person in Iraq it’s horrible for them because it’s back and forth between the Sunni and Shia.  But you and I are not watching what’s going on socially in Iraq.  That does not dictate how they’re going to expand their markets…

RVAlready – Dinar Guru  Interesting situation. Sounds more and more that UN will force an agreement for the good of Iraq.