Dinar Observer Daily

Pimpy – Dinar Guru  Article: “Al-Kazemi:  We have succeeded in stopping the waste and the great corruption in the Central Bank auction, and we will not stop”  …he seems to be doing what it takes to clean up Iraq and to get them back on their feet where they belong.  They are a rich country…unfortunately the corruption is so bad and people are so greedy…these are the types of things [Cleaning up corruption] I like.  It’s a great reflection on the country when it comes to the international people…this is good.  We want to see the corruption being taken care of.

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Frank26 – Dinar Guru   They will float it [the dinar].  And the reason why is because internally they have fixed it [fixed rate] and they will float it internationally…that float equals a middle eastern basket that the Iraqi dinar will be in there with the American dollar 1 to 1 and all of these other countries that are around the Middle East they’re gonna pour into that basket…maybe 6,7,8 different countries…those other counties will also be 1 to 1 with the American dollar.

Mountain Goat – Dinar Guru  Article:  “MEANING OF CURRENCY REVALUATION AND WHAT WILL HAPPEN IF IRAQ TAKES THIS PATH”  Quote:  “The act of altering the value of a nation’s currency relative to other currencies is typically influenced by market pressures. The pressure is now.”   The pressure is not going to end until the CBI completes the project to delete the zeros and the revaluation of the dinar against the dollar.

Pimpy – Dinar Guru  Article: “A Significant increase in dollar action sales to the Central Bank of Iraq”  People always get these confused.  They think they’re selling dinar.  That’s not what’s in the auctions.  The US dollar is what they’re selling.  What’s happening is they get paid all the time for the oil in the petrodollar – they’re US dollars.  They turn around and deposit into banks and the bank decide how many of them they want to keep… and they send over [the rest] to the CBI to auction off the money.  So when you see them sending more and more U.S. dollars it means they have more and more confidence in their own currency.  This is a good sign…we like to see it.  Continue to sell the US dollars and strengthen your own currency…

Mountain Goat – Dinar Guru  Article:  “ADJUSTMENT TO THE EXCHANGE RATE”   Quote:  “...which is likely to adopt the method of “managed float” in the next step in conjunction with the increase of central reserves,…”   this…verifies everything I have been saying all along… I talked about first the project to delete the zeros accompanied with an in-country revaluation to around 1:1, then a reinstatement on a managed float, pegged to a basket of currencies. But first right now they have to increase the CBI reserves, as Dr Shabibi did and was then were ready to go in 2012. What was the reserves back then? In 2012 it was around 90 billion. Just recently al-Kazemi announced the reserves were around 60 billion. So we can see it might take another 2 years (as the CBI just predicted) to reach the goal needed to go to the next step.

Petra – Dinar Guru   Anchor in what you know.  What do we absolutely know?   1.  We know the budget was approved on 3-31-21.  That’s a fact.  2. We know that the new budget hasn’t been entered in the gazette.  3.  Has the rate change been shown on the CBI?  No.  4.  Are there billions on the sidelines…private investors and companies waiting to enter into Iraq?  Yes.  IMO the frustration of folks comes when trying to figure out a date.  Can anyone influence the launch of the reforms or influence the date of the reinstatement in the public realm?  No…They cannot survive at the current program rate.  Nor will it come out at the program rate because the math just doesn’t work.  Anchor in what we do know – that they have told us it is coming.  We just don’t know when.  Stay the course.  Anchor in know that it is coming and relax.  You’re not going to miss it.

MilitiaMan – Dinar Guru  Article:  “After April 9, 2003 .. Prospects for Financial Development and Existing Challenges”   Quote:  “…the issuance of the new currency, which resulted in** raising the price of the Iraqi dinar and making it get out of the prison in which he lived during the era of the previous regime, and his purchasing power improved rapidly, with financial and economic measures taken.” And that “the Iraqi dinar, after 18 years, has become stronger than many currencies of neighboring countries, and others, regionally and globally, with the availability of a monetary block that is good compared to the Current circumstances…”   Let that start to sink in… The issuance of a new currency…One where they raised the price of the IQD… But be sure, imo…they are telling us what has been done and in my opinion to be exposed…imo!…(wink)

RVAlready – Dinar Guru   The CBI does not need the budget to be in the Gazette. They are setting the exchange rate for the currency. They do not require the budget in the Gazette to do that.

Holly – Dinar Guru   RV News: Iraq’s budget is to be printed in the gazette Saturday and we are looking for that. No news out of Iraq yet. I am not sure what time they publish the gazette. There are a lot of people that seem to think the budget will be published at the new rate. I actually don’t believe that is what will happen. I think they will apply the new rate to the budget once it is announced and if needed have an addendum or supplemental budget to make any other changes. We are so close everyone. I do not want to put dates or anything out but we are so close. Yes I know, we have heard that before. Yes but Iraq has never gotten this far and now it is proof where we are. They cannot not hold this back anymore.

Sandyf – Dinar Guru   When the budget is ratified it will be published by the MOJ and will appear on their …The only official English version of a budget I have ever seen is from the Iraq Law Library and that usually takes some time. The budget will be applied retrospectively to the 1st Jan, start of the financial year. The budget is a summary of income and expenditure and their is no exchange rate involved, the only exchange rate is the conversion of the budget from IQD to USD for interested parties such as the IMF.

MilitiaMan – Dinar Guru  the main thing is, is that they tell us the budget will be applied retroactively for many many months.  Implementing that retroactively from the 31st tells you them stopping the auctions has all been timed…for this particular purpose because it’s all about the exchange rate…it’s awesome.  Good deal.

Petra – Dinar Guru  This is the endgame.  This is what we’ve been waiting for…once that thing [the 2021 passed budget] is signed that is game over…it’s gonna be the last second and they’ll release the parade.  But they are officially on the clock so that’s the good news.  It’s getting sweeter and sweeter every day because every day we’re getting closer and closer to what we’re waiting for.  So yeah all very very exciting…

Pimpy – Dinar Guru  Again I have to bring this up because people are asking me.  Again, no, there is no 1 for 1 exchange rate happening in Iraq.  That’s false.  I told you guys what that would create.  A huge large black market of the Iraqi dinar.  You would have people buying cheap out of country smuggling the in country exchange the 1 for 1 grabbing their profits and running back out of country buying more dinar and going back in.  When the exchange rate happens it happens inside country and out of country all at the same time…

Petra – Dinar Guru  Guess who’s coming to Iraq in a couple days?  Barzani the head of Kurdistan…his deal is done.  He got his 13.97% which is a lot more than I thought he was going to get…he’s coming to town.  Why would he be coming to town?  It’s not to negotiate some more for his contract.  He’s got it.  It’s signed.  It’s done…the timing…it makes a lot of sense. 

MilitiaMan – Dinar Guru   Article:  “US-Iraq strategic dialogue to take place on April 7”  Quote:  “The relationship between the US and Iraq, including its military presence in the country, is based on a strategic framework agreement signed in 2008. It called for close defense co-operation to deter threats to Iraq’s “sovereignty, security and territorial integrity.”   The talks, due to take place next Wednesday, will focus on security, counterterrorism, economics and energy, political issues, and educational and cultural co-operation.  Gotta love the timing of things…The economics and energy has my attention for obvious reasons… The oil deals we see of late are all about economics, yet, security is a part of that and big time too. The Tripartite with Jordan and Egyptis the following day… Watch and see… This is all for a purpose… I like it! imo…

Kaperoni – Dinar Guru  …There is no RV, it’s not how monetary policy works. All you have to do is read the IMF Article IV Consultation with Iraq to know there is no RV or change in the exchange rate expected…I assure you they’ll be no change in the exchange rate in April, for that matter the entire year…

Pimpy – Dinar Guru   Article:   “It will continue for five years and 600 pending procedures.  Allawi reveals the second part of the white paper”  This is the one article that people are a little bit confused about…for some reason people are thinking that the exchange rate is gonna stay the same for that long and nowhere in here does it say that it’s gonna take five years before they change the rate.

Petra – Dinar Guru   Stopping the auctions…nobody wants to be on the bad side of the equation.  I consider it like hot potatoes…You didn’t want to be stuck with the hot potato when the music turns off.  The banks are feeling the same way.  They don’t want to be stuck holding that hot potato and they lose on the transaction.  They’re very very conservative.  IOO they are being very wise in holding off on those auction until Monday-Tuesday-Wednesday of next week. There’s got to be a reason for that.  Right now the budget has not formally become law because it has not been signed by the president to our knowledge and it has not gone into the gazette.  The president has between 3 and 15 days to sign that budget…we have until the 14th for that event to occur.  Again, rate before budget.  The rate has to be in that budget before it becomes law.  We’re in quite a countdown now.  

MilitiaMan – Dinar Guru  Article:  “The currency auction stops for a week as a result of banks’ fear of changing the dollar’s price”  They have enough dollar reserves to get them through until a new exchange rate is applied, hence the fear of buying now. We have been told that this would happen in the past. They told us dollars will get scarce before the new dollar will be used again. So by staying out of the market reduces risk.  With all the international contracts coming in, they’ll need an international exchange rate applied for to facilitate the foreign exchange with freedom of capital. They also note that the budget will be applied in a timely manner while dealing with the exchange rate. All within this week or so…  [post 1 of 2]

MilitiaMan – Dinar Guru  Will that rate leak out, maybe not? We shall see. There were articles to support that an exchange rate change is coming. The citizens are getting hammered in respect to goods services, pricing, etc…So, I feel comfortable knowing that the fear of the buying the dollar is a sign of a big change thus the closure of the auction. No one wants to be holding the bag and be on the wrong side of a trade with a big move expected to come.. That can be disastrous in magnitude…Therefore, the planning had to be done down to the wire and that wire got started Wednesday of last week so they say… 03/31/2021.  Let’s see what the next 24-96 hours brings!! Real close anyway!! imo, it shall be interesting to say the least! Imo…
[post 2 of 2]

Pimpy – Dinar Guru   ...there is a lot of chitter chatter going on with these middle eastern countries…there’s some concern about the current administration being in there…what they hope doesn’t happen is the same thing that happened under the O—- administration…while the United States is having dialogue and meetings with Iraq at the same time they are also negotiating with Iran on their nuclear deal…I’m thinking that a lot of these countries over there…want some type of reassurance…

Pimpy – Dinar Guru  …It seems like every single day the exchange rate is in the news for one reason or another…just be careful about how you’re reading these things…all it is simplified is they’re trying to stop using dual currencies.  Just use the Iraqi dinar to help strengthen the dinar…I really strongly still feel that the rate will change before the end of the year…

Dinar Investor – Jeff  Jeff Article “Parliament welcomes Al-Kazemi’s tour to Saudi Arabia and the Emirates: Iraq will return to its leadership role”  Kazemi is meeting with many different countries.  They’re working towards achieving their economic independence and economic stability.  They’re showing you right now they technically don’t have economic independence or stability at this time because they’re actually putting that together right now...drafting bilateral trade agreements…

Pimpy – Dinar Guru  Question:  [How long would it take for international banks to reinstate out of country?]  What do you mean by ‘out of country’?  There is no ‘out of country’ or ‘in of country’.  When they redo the rate it’s all at the same time…

Pimpy – Dinar Guru  I know you guys were jumping up and down.  You heard rumors that the dinar had been changing in Iraq 1 to 1 and I told you that wasn’t true because if it was true then you would see people bringing their currency that are out of country taking to people in country and getting that 1 for 1 exchange – taking their newfound fortune…buying more dinar cheap then running it back into the country...so when people tell you oh, in country this and out county that, that’s a lie.  They go at the same time for that specific reason…use common sense…be careful about the information no matter where it comes from.  Even me.  Question it.  There’s nothing wrong with it – question it…

Mike Cottrell – Dinar Guru  …I do believe we are very, very close…whether it is this weekend, next weekend or next month…I have no idea. I know they are running out of time if they want to get their books straight.  I was told they are trying day to day to get this done…

Adam Montana – Dinar Guru   This anticipation is kind of getting to me.  Article quote:  “The House of Representatives voted today on the General Budget Law for 2021…”  We are ridiculously close to seeing some HCL info…WTI is currently in the $61 range. The budget was formulated at much less than that. This is GOOD.   HCL is on the way…  GOOOO RRRRRRR-VVVVV!!!

Kaperoni – Dinar Guru   Yesterday, direct from the Finance Minister when referring to the exchange rate stated this… “The current price of the Iraqi currency against the US dollar after its devaluation will continue for a long time, and a full float may occur in the future, but the…central bank will now work to maintain the current exchange rate level for as long as possible.”  I think that is pretty clear. And as I stated before, a float is how monetary policy works. Only with the success of Iraq’s economy can the Iraqi dinar go up in value. With the recent passing of the 2021 budget, we have to hope this is the beginning of a prosperous Iraq.

Pimpy – Dinar Guru  I do think it’s [dinar] going to rebound.  If they can keep stable with no issues and do away with as much corruption as possible like they’ve been doing and they start doing these private sector build ups, yeah you’re going to see the currency rebound.  I think it’s going to happen quickly.  Sure it might not happen overnight but IMO it’s going to happen quickly enough…