Dinar Observer Daily

Mountain Goat – Dinar Guru   Article:  “COMMENTED MEMBER OF THE IRAQI ECONOMIC COUNCIL SADIQ AL – MASHAT, ON THE STATEMENTS OF THE PARLIAMENTARY FINANCE COMMITTEE ON THE IRAQI GOVERNMENT ‘S QUEST TO RE-WORK COINS.”   …Remember …there will be strong opposition to this bold move by the finance committee as those making billions off the existing system with 1/8 of a penny dinar will not want this change to occur. This corruption has been the hold up all along. But these days are about to be over.

Dinar Investor – Jeff   Article:  “Baghdad and Kurdistan agree on partnership in international conferences and meetings”  When you look at a lot of the current articles coming out between Kurdistan and Baghdad, they’re strongly suggesting/indicating that the Kurds and Baghdad have reached an agreement, just not publicly announced it.  So, ultimately that’s what we are waiting for…to publicly announce it…that they have agreed …and that they have everything worked out on the oil and Article 140 for the numbers in the 2020 budget…and then after that to know if the stage is officially set, we want to see what their next actions are…do they advance straight to the formation of the government or do they do something directly after that.  That’s what we are looking for to know if the stage is officially set based on how fast they advance to the formation of the government.  That will tell you everything you need to know.

Kaperoni – Dinar Guru  We do not want them to delete the zeros, because that’s a LOP. What we do want is for the rate to increase.  And the only reasonable means to accomplish that is via a float allowing the dinar to rise as investment comes into Iraq.  Anything else does not benefit us.…You cannot significantly RV the dinar with excess of 42 trillion in circulation unless you can significantly reduce the money supply first.  Hard to do unless gradual. …We don’t want a redenomination/LOP. Those are neutral events.  It’s current rate is its real value. Unless they float the currency and let market forces set the rate.  

Adam Montana – Dinar Guru   I’m just going to give everyone a brief…briefing… the news is slow… Bad news – we haven’t heard anything HCL related. Good news – once we DO hear something about HCL, I think it’s going to be an avalanche.

G-Lin – Dinar Guru    Article: “Trade completes electronic window project”  Quote:  “Iraq Trade Point will activate the work of the private sector and promote the growth of the Iraqi economy and will be the focus of all international goods,”;  “the completion of the electronic window project.” You gotta love the word completion. IMO this is one of the most important arts. I’ve seen in a while…good stuff.

Mountain Goat – Dinar Guru  Article:  “THE COMPLETION OF THE ELECTRONIC WINDOW PROJECT FOR THE IMPORT AND EXPORT TRADE”   Why is this article so important?  …It is important because in order to pull this off they will need to get rid of the currency auctions and rely on dinar to pay for trade. Thus, if they do they will need to be tied in to the FOREX markets to determine the current currency rate of the dinar while trading.  …This is the platform to be used. This is exciting news and is all VERY GOOD for us.  So much good news this week in progress of getting us the reinstatement of the dinar.

Dinar Investor – Jeff     I will only have about 3 more big news. 1: Kurdistan – Baghdad Reach Agreement   2: Form the government.  3: rate change.

Mountain Goat – Dinar Guru   So what should we expect to see next?  We are looking for news that parliament has passed the needed legislation and then sent it to the CBI for the coinage reform proposal by the Finance Committee. Then very soon the CBI should “formally” announce the new CBI director. Allaq is due to leave in early September and his replacement will then take center stage. I believe that possibly the timing of the coinage may happen about this timeframe.  We also look for more news of the “project to delete the zeros” going forward once again. We also look forward to news articles to educate the citizens on the new coins for smaller categories and the update on the CBI site for the new coins…

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Mountain Goat – Dinar Guru   Article: “FORMATION OF A COMMITTEE TO RAISE THE PRICE OF THE IRAQI DINAR AGAINST THE US DOLLAR”  …we know that if they issue the coins of much smaller categories, they will need to significantly raise the exchange rate of the dinar (the value is already present at 1:1). But when will they “reinstate’ the dinar back to the global currency exchanges? This is what we really want to see happen and is when we go to the bank and not a moment before…

Kaperoni – Dinar Guru   Does anyone actually believe the CBI could RV or RI the dinar at 1 to $1 or greater with an excess of 42 trillion dinars in circulation?  That is 3x’s the worlds money supply.  It simply cannot be done.  And the CBI cannot reduce the money supply overnight (in fact they mentioned the currency would remain in circulation for up to 10 years).  The only possible and viable solution is a gradual reduction of the money supply with a gradual increase in the exchange rate.  Such an increase in the exchange rate could occur as inflationary pressure rises on the financial system as investors bring capital to Iraq.  Any other option for an increase in value just isn’t viable or realistic. So we keep our fingers crossed that investors come to Iraq beginning with a 2020 budget, increased 72 trillion expenditures.

Mountain Goat – Dinar Guru   Article:  “Revealed the Finance Committee in the House of Representatives, the formation of a committee to raise the price of the Iraqi dinar against the US dollar.”  so this goes hand in hand with the news articles we are reading today about re-minting the coins. The best part is they actually used the terms and referenced directly the “project to delete the zeros”. This means they are getting serious about doing it now. This is what we have been waiting for and so this is super fantastic news…

WHAT’S THE USE OF COINS AT THE MOMENT

BAGHDAD – Mawazine News: commented member of the Iraqi Economic Council Sadiq al – Mashat, on the statements of the Parliamentary Finance Committee on the Iraqi government ‘s quest to re – work coins.

Al-Mashat said in a statement received (Mawazine News) a copy, that “the Iraqi government going at the moment to re-work coins is not positive because the financial developments in most countries of the world go to electronic currencies,” indicating that “the work of electronic currencies in Iraq has been in great demand during Past few years”.

He added: “More useful to the state is to reduce the use of currencies in general and urged the Iraqi consumer to pay electronically,” indicating that “this measure provides the state the value of minting coins and the value of printing paper currency.”

Al-Mashat called through the statement to “the importance of working in electronic currency rather than return to cash and metal,” noting that “electronic currency can include small cash categories from one fils to one dinar and thus numbers upward for small cash categories.”

Al-Mashat said, “The banknotes will disappear after 30 years because of the high demand for electronic currency.”

“…The Finance Committee in the Iraqi Council of Representatives announced on Monday (19-August-2019) the direction of the government to reinstate the currency and delete zeros from paper currency in order to strengthen the national economy…”

Mawazin.net

Kaperoni – Dinar Guru  A couple of very nice articles…came out talking about raising the value of the dinar against other currencies and introducing coins into the market.  …but no where does it say this would occur overnight.  [When will this happen]  ...if all things go as planned they’re planning launch the market economy the first of next year by adding 72 trillion dinars to the 2020 budget. But this is Iraq.

Future – Dinar Guru   “Finance Committee: Reinstating the civil currency and deleting zeros”  Quote:  “The Finance Committee in the House of Representatives, on the trend to reintroduce the coin…stressing the importance of pre-empting the coinage process step by “deleting zeros” from the current currencies to be valuable for small cash groups”  lots of talk about coins (fils)…small cash groups = lower denoms… seems these coins are gonna play a major role in the market place…vendors etc.   …need new value…i am still looking for an an increase before october 1…

Mountain Goat – Dinar Guru …the flood gates have opened and the news is pouring in. …The parliamentary finance committee has decided that the CBI needs to move to the next step of the “project to delete the zeros” and put the Iraqi dinar on a “level playing field” with the rest of the middle east currencies. Yesterday they came out with the announcement to re-mint the Iraq coins once again. They are saying they now need to put together legislation in which to give the CBI permission to do so…

G-Lin – Dinar Guru   Article:  “What’s the use of coins at the moment”  Quote:  “The “Finance Committee in the Iraqi Council of Representatives announced on Monday (19-August-2019) the” government direction to reinstate the currency and delete zeros from paper currency in order to strengthen the national economy.”  I think this is the first time I’ve seen the word reinstate. I like it.   re·in·state (rē′ĭn-stāt′)  1. To bring back into use or existence.  2. To restore to a previous condition or position.

Frank26 – Dinar Guru   Everyone knows… The US Treasury, the Iraqi citizens, the CBI, the GOI, the IMF…Everyone knows.  Iraq is now on fire with the reinstatement of their currency.

Kaperoni – Dinar Guru   Countries that LOP or redenominate due to failed monetary policy such as hyperinflation, tend to create monetary illusion which is usually done as a last resort. Ultimately, this usually fails again. Iraq has been very successful, therefore not a candidate for such an event.

RVAlready – Dinar Guru   I think we are about done. 🙂 …With Iraq advertising coins on TV, this has to be about over.

Larrykn – Dinar Guru  Article:  “MP Talal Khodier stripped of parliamentary immunity over corruption charges”  seem to me they are attacking everyone that is corrupt or slowing the govenment down, looks like a big move is happening now…this could be good news for all of us.

Dinar Investor – Jeff   The formation of the government…is the linchpin…Iraq has delayed the formation of the government this entire year so they could set the stage...In my opinion the setting of the stage ends at the end of August and that’s why they have the formation of the government set for September.  But now they have a brand new pattern coming into the news as the setting of the stage suggests to be ending in August…

MilitiaMan – Dinar Guru   “the Finance Committee will work to raise the price of the dinar against the dollar and give it strength among other currencies in the Arab world, or at least maintain the current exchange rate to have monetary power within Local market.“ This is not talking about a program rate! Imo.

Frank26 – Dinar Guru  …We have a total of about 21 articles about the coins…yeah this is impressive… article after article after article after article about the coins…This step is monumental.  This step is as close as you can get to the “second article” from the CBI…that will explain everything to the citizens step-by-step.  Article “The Finance Committee in the House of Representatives revealed that there is a tendency to reintroduce the coin...”   …when they do reinstate their currency they will use the ATM machines and the banks to distribute the new small category notes…the citizens now know even though it’s not yet directly from the CBI…

Delta – Dinar Guru   URGENT FROM IRAQI TV:  “Parliamentary Finance Committee intends to raise the price of the dinar against the dollar and give it strength among other currencies.”  IT’S ALL OVER THE NEWS NOW ALL ABOUT RAISING THE VALUE…

Dinar Investor – Jeff   …they are telling us…coins are needed when you have a higher exchange rate such as Kuwait…you can’t have coins in circulation in your country unless you have a fair exchange rate. Article:  “Deleting of Zeroes Curbs Inflation”  They need to delete the zeroes to curb inflation that will allow them to mint coins and they will have a higher exchange rate from the deletion of the zeroes to support and sustain and allow for the minting and use of coins within their currency.   [post 2 of 2]

Dinar Investor – Jeff   Today we had articles on coins, their importance and significance and how they’re related to changing the rate which is deleting the zeroes…These articles are from the Finance Committee…  But there’s another layer to this…the foundation or starting point for all of this.  Article:  “Directed To re-work the Coin”  Quote:  “Bank of Iraq, aimed at raising the dinar exchange rate and maintaining the stability of inflation”  …The reason they are saying they need to increase the dinar exchange rate to maintain stability of the inflation…that’s actually the foundation right now for deleting the zeroes and implementing lower denoms…plus coins.  [post 1 of 2]

Chattels – Dinar Guru   Article quote:   “The delegation of the Kurdistan Regional Government will go to Baghdad during the coming days based on the previous mutual visits, where it was decided to form committees on the oil and budget and Article 140.”    I am slightly hopeful that Mahdi can resolve some issues with the Kurds. The Kurds seem to like and trust him.  The political forces opposing Mahdi in Baghdad are substantial. Many would just as soon crush the Kurds.  Rightfully or wrongly, I have believed for a long time that stability in Iraq and the eventuality of our liquidity event depend upon the Kurds indirectly. Mahdi seems our best hope for stability in Iraq, IMO. 

Kaperoni – Dinar Guru   Article:  “Parliamentary Finance Committee intends to raise the price of the dinar against the dollar and give it strength among other currencies.”

Don961 – Dinar Guru   Article:  “…Coins that have been used in Iraq over the past decades must be restored”