Dinar Observer Daily

Sandy Ingram – Dinar Guru  The IQD rate still does not show 1300 IQD to 1 US dollar.  We are not sure if the 1300 IQD rate is in effect.  However, a rate of 1310 IQD to 1 US dollar shows up on the Central Bank of Iraq’s website..

Paulette – Dinar Guru  …There will be a significant amount of USD going to Iran for imports and this will continue but under the “new mechanism”…Merchants conducting Legal business can purchase USD for 1320…Who is willing to pay nearly 14% more for their imports at 1530?  The Market is clearly still filled with corruption!  The Sudani GOI is stating all the right things about taking action against the corrupt that are causing this significant difference in the official and market rates and perhaps this is how they are “smoking out” the corrupt.  Time will Tell…it seems the clock is ticking.

Pimpy – Dinar Guru  Article: “US Report: Iraqi delegation in Washington came under ‘severe’ pressure from Biden administration”  To me this is just smoke and mirrors…they’re acting like they’re being hard on Iraq but I don’t believe it, not for a second.

Henig – Dinar Guru   Article:   “Government spokesman to Shafaq News: The Iraqi delegation to Washington reached “new mechanisms” on the dollar crisis”  Quote:  “…the American party has paid very attention to the Iraqi delegation in a very different way from all previous delegations that visited the United States of America during the past years…the two parties reached new mechanisms in cooperation and will contribute to the launch of large batches of hard currency into Iraq, and agree on the method of applying the electronic platform, and this will contribute within a very short period to the stability of the dollar exchange rate in the local market according to its official price, and this price will be stable in the coming days.”

Militia Man – Dinar Guru   We’re changing from an exchange rate topic to a value-related topic.  We have the foreign minister, finance minster and the central bank talking about value and value comes from not just an exchange rate per se but what’s the basis of that value.  That value is going to come from income streams, taxes, tariffs at the borders, natural gas, oil and …foreign reserves which is the dollar…and they have a lot of gold…the basis of all these meetings is definitely value.

Sandy Ingram – Dinar Guru   Article:   “Commission of Integrity issues 90 arrest warrants for official”  The officials include 4 MPs in the current parliament.  5 former MPs.  4 former ministers…2 current undersecretaries.  3 former undersecretaries …3 current governors.  14 former governors.  10 current General Directors.  27 former general directors…7 former members of government councils.

NORV – Dinar Guru   Despite the Central Bank’s decision to adjust the exchange rate to 1,300 dinars to the dollar from 1,470 dinars, confusion still prevails in the Iraqi markets. The exchange rates remain high despite the relative stability in the local stock exchange.

Pimpy – Dinar Guru  Article:   “Urgent the governor of the central bank reveals the secrets of the dollar’s devaluation and the reason for its rise in the market”  He’s saying there’s no reason to change the Iraqi dinar rate anymore.  He goes on to say anybody who wants an increase in the dinar versus the dollar must be wanting it for nefarious reasons.

Paulette – Dinar Guru Perhaps…However, Iraq has clearly stated that imports only require a maximum of 60 million/day…the citizens are being encouraged to hold and use IQD...where did the other 600 million+ go this week?  It certainly didn’t result in controlling the exchange rate as it still sits at 1530.  Somebody is clearly desperate enough to pay a premium for USD and is not willing to do it legally as they can purchase direct through the banks at 1320…many articles have stated that billions of dollars are syphoned out of Iraq and into other countries through the Currency Sales and that this “THEFT” has to end…Iraq has clearly stated that this excessive movement of USD is not a good thing…

Henig – Dinar Guru   Article:  “A leader in Al-Asa’ib sparks a dispute between Al-Sudani and Al-Maliki“.   IMO: Maliki being Maliki again.  I see any disagreement with Maliki as being a good thing. Maliki likes his power, and when someone opposes him on that, it’s generally needed. I like to see Sudani standing up to Maliki, it seems VERY positive. The more Sudani draws power away from Maliki, the better. Sudani ascending, Maliki descending. I like it.

Pimpy – Dinar Guru   Iraq…had a chance to come out to Washington and the squeeze was put on them.  Biden has put a crack down on Iraq because it won’t stop funding Iran.  This is what happens when you get a Coordinated Framework in there.  These are people who are loyal to Iran not Iraq.  That includes the Prime Minister forcing Biden and the United States Federal Reserve to put the squeeze on Iraq and it’s affecting their dinar.

Nader – Dinar Guru  Since last Saturday the police and man of law been running the streets in Baghdad and markets of Baghdad…you see a lot of cash in the streets.  Everybody sells cash on the streets and everybody sells dinar and dollar…the government is cleaning up.  They want to take all that out.  They don’t want nobody else besides the banks or the exchange offices to sell dinars or dollars or any kind of money.  That’s a good thing…if they are doing that they are doing it for a reason…that’s going to take a couple weeks…maybe a month to clean up all that money in the streets.

Mountain Goat – Dinar Guru   Article:  “PARLIAMENTARY WEALTH: ALL ROADS ARE OPEN TO PASSING THE OIL LAW IN PARLIAMENT”  This article is music to me when I read it… Yes we [have been] waiting so long to see this. Finally!!! Go RV!

Breitling – Dinar Guru  The Parliament did accept the proposed increase in value of the IQD to 1300 dinar per USD [From the CBI]. This is in part to offset the recent losses in value and to increase the purchasing power of the currency.

Pimpy – Dinar Guru   Article:   “Central Bank: Bank outlets to sell foreign currency continue to work by selling dollars”   Remember everybody was clamping down on dollars making them real scare.  The more scarce they are then they rise up against the dinar in exchange.  Iraq is trying to get permission from the United States to get more US dollars so they can release them in their country and drive the value down against the dinar.

Sandy Ingram – Dinar Guru  Article:  “Congressmen call for more US support for Kurdistan Region, tougher position toward pro-Iran elements in Iraq”  This cannot be good.  Or it may be the best thing that has happened in the last 10 years.  Congress is actively asking questions and wanting to control the purse strings of America’s aid packages to Iraq..

Militia Man – Dinar Guru   One of the things investors in the world need to come into Iraq…they need to have freedom of capital movement.  They must have been assured in the Washington, Baghdad, Istanbul and the meetings that we saw with the IMF and AMF in the last 24 to 48 hours are all coming about telling us that they’re going to be going international…

RVAlready – Dinar Guru  Article:  “Fuad Hussein: We reached an agreement with American officials regarding the dollar”  Quote:   “I see that the currency issue will be gradually resolved…”  Article:  “The Governor of the Central Bank of Iraq reassures the people: We found understanding from the Americans regarding the dollar”   This is great news from a respected Iraqi diplomat and the head of the CBI.  I’m looking for 1000 to 1 real soon now.

Mountain Goat – Dinar Guru    …Everything is pointing in the right direction that this could literally happen VERY SOON…

Pimpy – Dinar Guru  If the United States gets behind a revaluation of the Iraqi dinar to $3.22 then it’s going to be recognized by the rest of the international community.  But if the United States doesn’t get behind it, I don’t care if they change the rate or not it’s going to mean nothing to us who don’t live in Iraq …

Sandy Ingram – Dinar Guru   What is Iraq doing to prepare for entering the global financial world?  It is efforts like this that encourage our belief that the Iraqi dinar will revalue at a much higher rate…What is an FIU?  (Financial Intelligence Unit) That is a bid deal, a really big deal…Iraq applying for and being accepted by this organization says they are ready to dig deep and understand financial crimes before they happen…FIU could easily help Iraq identify large sums of money leaving Iraq for Iran or any other place in the world…this means checking the financial status for Iraqi politicians will become second nature.

Clare – Dinar Guru   Article:   “Huad Hussein from Washington: The currency crisis is gradually receding, and Iraq is becoming aware of it”  Quote: “… there is already a system in place between the Central Bank of Iraq and the US treasury, but it is new, and the Iraqi parties have become more familiar with the mechanism“

Militia Man – Dinar Guru  1310 isn’t enhancing the value of the dinar.  It was 1166 to 1460 and then back to 1310.  That’s not enhancing.  The inflation and all those things that come with that just doesn’t match.  But what does match is they they’re enhancing the value based on income streams…taxes, tariffs…gold reserves…foreign reserves.  All of those things are the things that enhance the value fo their currency…

Pimpy – Dinar Guru   The overall goal is to get the Iraqi dinar to a 1 to 1 level playing field exchange rate…the dinar is going to get stronger and it’s actually going to get stronger much quicker than people think…major projects happening in Iraq and every one of these has to with the new development going on in Iraq and how their economy is actually getting very strong which will lead to them having a 1 to 1 exchange with the United States dollar...the economy for Iraq is getting ready to boom.  Employment is getting ready to boom.  Everything is getting worked out…

Mountain Goat – Dinar Guru  Article:  “MEMBER OF PARLIAMENTARY ENERGY: A “SEMI-OFFICIAL” AGREEMENT ON THE OIL AND GAS LAW”   As I stated many times already the new 2005 Iraqi constitution states that there shall be a referendum passed in parliament on instituting the conditions of the constitution to manage the oil and gas. This is called now the oil and gas law. Seems anytime we get news of a rate change, this law pops up in the news. Why? I was told way back in 2011 that this law is necessary to…reinstate the dinar as are all the provisions in the constitution must first be met, including this one. Funny how it always comes up when they are getting ready to reinstate the dinar.

Pimpy – Dinar Guru  …With the currency being stolen by corrupt politicians and terrorists there’s no way they’re going to revalue the currency currency to [$3.22].  Most likely when the time comes and they’re really right back on track you’re going to see them re-denominate the currency and it’s going to go up in increments.  Do I think it could get to the $3.22 rate?  Of course I do…I’m not saying it’s going to happen overnight.  I’m saying it’s possible to get to the $3.22 rate.  They just have to make sure to stop doing all the bad things that keep setting them back…

Clare – Dinar Guru  Article:  “The government sets a week to complete the 2023 budget according to the new exchange rate: we will approve it in one session”  Quote:  “The Iraqi government revealed, on Wednesday, that the Ministry of Finance has begun to re-prepare the general budget for the year 2023 according to the new exchange rate (130) thousand dinars per 100 dollars.“

Nader – Dinar Guru   I still believe the budget have nothing to do do with the rate.  The economy have to do with the rate.  The private sector has to do with the rate.  But the budget have nothing to do with the rate.  The budget is for the country.  It’s not for outside the country.

Sandy Ingram – Dinar Guru  The Iraqi cabinet set the official exchange rate at 1300 Iraqi dinars per 1 US dollar.  The change is based on the Central Bank of Iraq’s suggestion/recommendation.  The previous rate was at 1460 Iraqi dinar to 1 dollar…the Iraqi dinar has lost more than 10% of its value in recent months because of pressure from the United States to stop the flow of dollars to countries under U.S. sanctions – Iran and Syria.  This is not the end of the road.  Far from it.  But the beginning.  For years the official rate was 1182 dinars…Iraq’s central bank devalued the dinar in December of 2020 to 1460 dinars per dollar…[We are] viewing this 1300 rate change as a return to the pre-covid exchange rate plus or minus inflation…

Militia Man – Dinar Guru  Iraq was on the “Black list”, then it was moved to a “grey list” and then just yesterday/day before they were moved from that “grey list” by the European Union to the “white area”…at the same time there was things going on in Washington DC.