Dinar Observer Daily

Pimpy – Dinar Guru    People are asking me about the rate… Nobody knows…It’s all speculation.  I know people like to equivocal what happened over there in Kuwait with Iraq…There’s huge differences…One is the length of time in-between when Kuwait devalued their currency to when it was revalued…Also the amount of Iraqi dinar…out in circulation is way bigger than what was going on over there in Kuwait.  Having said that, that doesn’t mean it’s not going to happen.  I’m just saying, people go around saying this is the same exact thing.  I was one of those people.  There were a lot of similarities between them but then when you start taking other factors into consideration that all play a part in what the dinar rate is going to be…

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Frank26 – Dinar Guru  They are going to reveal the Real Effective Exchange Rate (REER) and they’re going to show them the face value of the new small category notes.  This is what we’ve been calling the second article from the CBI for a very long time.

Pimpy – Dinar Guru   Here’s a biggie.  Article:   “Oil prices jump 5% … Brent is above $67”  …spring isn’t even here yet, we’re already at $67…when it comes to the currency obviously if you budget for $45 a barrel and your entire budget’s based on that assumption and it’s much higher you get much more higher revenue which allows for the deficit to get paid off quicker, allows for a lot more money to be used to build up the private sectors.  These all benefit the Iraqi dinar as the economy begins to grow.  So yeah that’s exciting news…

Dinar Investor – Jeff  …the rate’s gonna do nothing but keep going [up]…it’s up to you if you want to rush to exchange it.  I’m not.  I will not be rushing to exchange my currency.  I’m gonna take my sweet time.  There’s no reason to rush this.  It’s a once-in-a-lifetime opportunity…

Dinar Investor – Jeff   One thing that my long timers will remember…every time we get close to a potential time period where the rate was where we thought the rate might change we’ve always see articles talking about a large basket of suspended laws – the Federal Court Law, Article 140, HCL and so forth.  These basket of suspended laws are simply waiting on the rate change.  They just keep kicking this basket down the road because these laws are all waiting on the rate change.  When you see these laws come up tell yourself you’re close to the rate change.  They actually approved a portion of one of the laws today [Federal Court Law].  It was huge…this law has been waiting a long time…

Mountain Goat – Dinar Guru   The status of the RV has not changed since…Tuesday… We are still waiting for the budget to be passed and the political issues of the US to be addressed. Yes, we still have a chance to see an RV within Iraq but if they open and begin to spend the budget we are less and less likely to see the RV anytime soon at that point… But it is moving along and we will see the landslide. The landslide has begun only the momentum has not yet picked up as we would like to see.

Pimpy – Dinar Guru  I still think in 2021 we will see some rate changes in the positive direction for us.  As far as an announcement on an RI or RV whatever you want to choose, is it possible?  Yes of course it is.  There are a lot of factors out there that help the economy rebound – Oil prices going up.  The deficit reducing. The economy recovering.  Reconstruction …take the good, the bad and the ugly.  Stay grounded…watching the Iraqi government recover.  Their economy recover and then watch them slowly but surely strengthen the dinar against the US dollar...

Dinar Investor – Jeff    Government of Iraq Tweet  “Setting a new exchange rate for the Iraqi dinar against the US dollar is part of the economic reform program adopted by the @IraqiGovt, which films to address the immediate financial crisis and placing the Iraqi economy on a sustainable path.”  …They devalued the currency on December 20th.  90 days would take us to Sunday March 21st…they started talking about increasing the exchange rate of the dinar against the dollar about a week ago Monday…wow!…

Mountain Goat – Dinar Guru   Article:  “THE LAST PAGES OF SUBJUGATING THE STATE OF IRAQ …SUBJUGATING THE IRAQI DINAR”  Quote:  “TO WITHDRAW CASH FROM THE PEOPLE, WHICH EXCEEDS THE FINANCIAL POTENTIAL OF THE STATE, AS IT IS KNOWN THAT THE MONETARY PROPERTIES IN CIRCULATION...”  They are telling us…the need to shrink the money supply…then why are they doing this? …This is being done for what comes next, the global currency. If you shrink the money supply then each dinar is worth more, get it?

Dinar Investor – Jeff   Friday…I said Iraq most likely will not complete the budget until Saturday March 20th…24 hours before they change their rate…that way they can hide the budget figures from you.  Article:   “New statement from the Minister of Finance regarding income tax, exchange rate and salaries of 2021”  Quote:   “Allawi issued a new statement regarding changing the exchange rate of the dollar in the ’21 budget…we do not know the final form of the general budget amended by Parliament“.  They just told you they’re hiding the figures from you and they have not publicly shown you the real true budget…Mark my words.  They’re most likely going to approve the 20 [’21?] budget on Saturday March 20th…

Dinar Investor – Jeff   At this point in time what are we looking for?  Iraq has one step left…for them to literally complete the ’21 budget before they change the rate.  Are there any unique signs or patterns pertaining to the approval process of the ’21 budget?  Yes there is.  It strongly appears as though Iraq is intentionally delaying and dragging out the budget so that they can hide its figures from us…IMO Iraq might change their rate on Sunday March 21st.  One of the patterns we’re looking for to help confirm that time period is we’re looking for them to delay the ’21 budget  clear until possible Saturday March 20th…we need to watch that step and see how it plays out…

Dinar Investor – Jeff  They’ve pretty much almost stopped the currency auctions.  Not quite to 100% but there’s down to probably about 95% reduction in country.  That’s tremendous.  Remember I told you about the time they devalued the currency clear back on December 20th – this is one of those patterns we were looking for…they have done so.  That’s just more confirmation they’re in the progress of changing that exchange rate.

Mountain Goat – Dinar Guru   … Todays news is all about the budget and the refusal of the Kurdistan region to accept solutions presented to them. What do they want? They want a budget the recognizes and supports the people in the regions of article 140. They also want the oil and gas law… they have had enough of promises and want ACTION…they are also VERY upset over the devaluation of the dinar that took place in December. This move nearly destroyed their economy in Kurdistan…They want the full 17% plus the extra % under article 140. Under the law would guarantee them this but where is the law?

Pimpy – Dinar Guru  This  [Recently discussed tweet from the Iraqi Government]  is old.  These were the words of the Finance Minister before the rate change happened {When they devalued in December}.  There’s no date on this tweet…I’m pretty sure this is something that was said sometime in December or at least it was said in an article before the rate change happened when they first were talking about the White Paper reforms.  I don’t want you to get down.  It’s not bad news.  This is just  ‘look at everybody jumping on this like they’re going to change the rate again’ …slow down sparky.  I got you.  I remember these words specifically.  These were said before they devalued the currency…

Petra – Dinar Guru  …if they were going to have a budget at 1450 or even 1190 they’d have done it.  That’s what’s key to understand.  They are waiting for the rate because they know that’s what they need to make all the changes.

Dinar Investor – Jeff   Question:  “Is the gain from this exchange rate considered taxable income?”  I know a lot of people think this isn’t going to be taxable.  It’s going to be a taxable event guys.  We live in the greediest country in the world – the United States.  I promise you this will not go untaxed.  Plan on paying your taxes and getting on with your life.  Keep it legal.  Keep it real.

Mountain Goat – Dinar Guru  Article:  “AL-KHALIDI IS SURPRISED THAT THE CABINET HAS FORMED A COMMITTEE TO STUDY THE CONSEQUENCES OF CHANGING THE CURRENCY EXCHANGE RATE”   So, is this proposal to change the exchange rate just to change it back to 1250 before the devaluation to 1450 or is it to 1:1 with the US dollar and give the Iraqi dinar the strength it really deserves? I believe, based on other articles… that it is a study to go to 1:1 and then to eventually raise it back to 3:1 and even higher… there is much pressure to finally get this done.

Adam Montana – Dinar Guru   …I know it can be a bit painful to try to decipher the articles, so I’ll give you the elevator summary:  Things are going well. There is a current discussion on “raising the price of the dollar”, which would be bad for Dinar, and the overall sentiment is that they publicly do NOT want to “raise the price of the dollar”. (That’s a good thing for us!) Part of the reason is due to the current favorable price of oil.  And, of course, none of that matters when the HCL goes through. It’s been pretty quiet on the HCL front… When the HCL comes, we have an RV either already announced or just around the corner. Until the HCL is done, we wait patiently…I have no doubt that we will reap the dinar windfall… Go Iraq… Go Dinar…GO RRRVVV!!!…

Pimpy – Dinar Guru  There’s definitely without a doubt something going on with the Iraqi dinar.  Absolutely there is and all kinds of weird things are pointed to March…nobody can put their finger on it.  We’re gonna see…I’ve been trying to figure it out for the last few days…

Adam Montana – Dinar Guru   …In GOI news, Iraq is muddling through the final stages of the Budget. We don’t need the Budget to be complete before an RV, but a “happy agreement” between the Kurds and Baghdad will do a lot to grease the wheels…

Dinar Investor – Jeff   Iraq is completely on par with Kuwait.  Iraq and Kuwait’s fiscal year (I know this for a fact because I’ve already consulted with the Iraq government) is April through March of the following year.  That’s why Kuwait changed at the end of April [March?] to accommodate the March fiscal year…If you want to know when Iraq’s doing their rate change, they’re doing it on the exact same historical Sunday when Kuwait did theirs…Iraq is following in Kuwait’s footsteps.

MilitiaMan – Dinar Guru   Article:  “Zafer Al-Ani: Parliament Will Continue Its Sessions Until The Budget Is Approved”  Quote:  “the budget has reached its final stages, leaving nothing but the announcement of the agreement with the Kurdistan region regarding the percentage determined for it in the budget and other matters that will be completed within the next few days.”  Well well well. They are continuing the session tomorrow. The 1st of March. They’ll be at it until budget law is approved, so they say. Leaving nothing but an announcement. Well they’ll need to announce a rate with that now wouldn’t they?  …A new exchange rate can fix many ailments.. imo…

Pimpy – Dinar Guru  The problem with us dealing with the dinar is this.  In order for the dinar to have any kind of purchasing power or to get any real change on the exchange rate there has to be some stability there.  Already all around we’re starting to see crap happen.  Iran, Syria bombings, missile attacks within Iraq…Biden hasn’t even been in office two months and already the shit’s falling apart…I don’t like the way it looks although there’s some good things happening over there in Iraq.  The financial grade [B rating] is good.  The reserves are building that’s good…so there are some good things.  I’m just pissed about the way this current administration is too much into bombing crap…You gotta take the good news, bad news, the ugly news.  You gotta take it all. Stay grounded.

Dinar Investor – Jeff  Question:   “How will the Iraqi people prosper from or benefit from the rate change?”  …it gives the Iraqi citizens and the Government of Iraq purchasing power…there’s only one way for Iraqi citizens to get rich.  They have to keep and exchange the 3 zero notes after the rate change…

Adam Montana – Dinar Guru   …I’m still in daily communications with all of my dinar contacts. I still get my usual briefings from the important people on dinar… The last time I touched on the price of OIL was quite a while ago – I was optimistic even though oil prices were only at $40ish.  Where are they today?  $61!  Which happens to be above where we need them to be for a launch of the RV…

Pimpy – Dinar Guru   Article:  “The Central Bank Announces A rise In Cash Reserves To More Than 55 Billion Dollars”  That’s good we want the reserves to be up higher.  The higher it goes…it’s really good for the currency…It’s because one of the thing that gives its strength is the fact that there’s a lot of reserves.  This is very very good…

Mountain Goat – Dinar Guru  Article:  “TO THE EXECUTIVE BRANCH TO THE CENTRAL BANK OF IRAQ PROPOSING THE NEED TO AMEND THE EXCHANGE RATE OF THE IRAQI DINAR TOWARDS THE US DOLLAR”  Of course there are many objections to the 1450 devalued rate of the dinar. They people don’t understand fully the reasons behind it. This article is pushing for just what we want… Article quote:  “A new EXCHANGE RATE IS REQUIRED FOR THE IRAQI DINAR TOWARDS THE US DOLLAR, WHICH IS ONE DINAR EQUALS ONE US DOLLAR…and work in the future to return a new exchange rate. EACH DINAR EQUALS $3, AS IT WAS PREVIOUSLY.” …With oil expecting to climb way over $100 a barrel Iraq will be swimming in wealth and its an excellent time to do this…

Dinar Investor – Jeff    Tweet from the Iraqi government: “Setting a new exchange rate for the Iraqi dinar against the U.S. dollar is part of the economic reform program adopted by the @IraqiGovt, which aims to address the immediate financial crisis and placing the Iraqi economy on a sustainable path.”  Since roughly Monday of this past week is when they starting putting a huge emphasis on the exchange rate as we approach the implementation of the budget and their new fiscal year of April 1st...

Mountain Goat – Dinar Guru   Article:  “OIL REVIEWS THE FINAL VERSION OF THE DRAFT FEDERAL OIL AND GAS LAW”  ...every time Iraq gets close to a revaluation the oil and gas and the article 140 laws comes up in the news. They talk about completing it and how close they are to passing it as law. Coincidence? I don’t think so.  …they need to fully address their new constitution before they can reinstate their currency back to normalcy. They need referendums passed in parliament on both of these constitutional directives prior to going global. Sure, they can set up all the mechanisms to do so over the years, as this takes years. But in parallel to this effort, they must also get these two laws in place.