Dinar Observer Daily

Breitling – Dinar Guru  Question:  “Don’t shoot the messenger!  This concept is out there often – ‘Iraq is in no position to float the Iraqi dinar because they are 90% dependent on oil and until they pass laws, diversify their economy, the central bank will not float the dinar.  This is going to take months or even years before they’re in a position to begin to raise the value.’  What is wrong about that statement?”  It’s completely backwards because what they need to do if they want to diversify is to add value to the currency…they can’t diversify without a currency…

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Kaperoni – Dinar Guru  Iraq is in no position to change the exchange rate at this time…Iraq needs to diversify away from oil, create a private sector market economy where they manufacture, have agriculture, etc. To support their own economy.  Until they pass laws, have a stable government, foreign investment to diversify nothing is going to happen.

BGG ~ You said that already…

Samson – Dinar Guru   Article:  “American Institute: The world is moving towards not recognizing the Iraqi diplomatic passport”  Quote: “the Geneva Convention granted the right to every state participating in the United Nations to issue 1,000 diplomatic passports for every 100 million of its population…Japan, with a population of 125 million, issued only 1,000 diplomatic passports…Iraq…forty million people, has issued…15,000 passports…many problems contributed to the spread of Iraqi diplomatic passports, most notably the bubble of political elites in Iraq, wasta and corruption…“

MilitiaMan – Dinar Guru  We have been told over and over that the CBI has upwards of 90 -145 billion in $ reserves and over 130 tonnes of gold. The border income may match or exceed Iraq’s oil revenues. Add in the Natural Gas deals? You get the picture. The new notes expected will be supported by all that aforementioned and the private sector once the re [RI?] construction process begins…we know what the CBI is about to do, or they wouldn’t be talking about deleting the three zeros from the exchange rate now would they?

Clare – Dinar Guru  Article:   “After reaching international forums, the Iraqi company TNFX obtains a global license” Quote:  “The license allows it to deal financially in Iraq and abroad, and it is one of the reliable international financial dealing companies”  COPIED FROM TNFK WEBSITE: TNFX is an ECN forex broker serving both individual and corporate clients. We offer our clients a comprehensive range of trading tools, technical support, and advisory services with the aim of making the trading process efficient, hassle-free, risk-free, and above all profitable for the client from new account registration to funds withdrawal.

Samson – Dinar Guru  Article “Iraq is the largest buyer of gold for the second quarter of this year”   Quote  “The World Gold Council announced today, Saturday, that Iraq was the world’s largest buyer of gold during the second quarter of 2022. The council said in a tabular report seen by Shafak News Agency, that ‘ Iraq bought 33.97 tons during the second quarter of the current year 2022, bringing its balance to 130.3 tons…'”

Mountain Goat – Dinar Guru   But as inflation rises with their devaluation of the dinar since 2020, these too come almost worthless in Iraq …Gold is going to sky rocket since all countries are going to go back to the gold standard officially and not just under Basel as we are now seeing partial implementation behind the scenes. Iraq is already preparing for this. This is where our wealth transfer is going to come from. But I could be wrong ( I don’t think so) and so let’s see what happens. [post 2 of 2]

MilitiaMan – Dinar Guru   Article:  “Ports announce the completion of their electronic procedures for exempted goods”   The completion of the last link means to me they are fully ready for what is expected. They go international the coffers will fill quickly, aside from the oil revenues!!!..imo No coincidences with respect to timing..

Michael Cottrell – Dinar Guru  I think right now it could happen at any time for any reason…we are at the right stage…the right time…and the right players are stepping up to the plate.

Samson – Dinar Guru   Article:  “The Central Bank announces the achievement of the largest cash reserve in its history”   Quote:  “The Central Bank’s reserves exceeded 87 billion dollars, which is the largest number that the Central Bank of Iraq’s reserves reach…the Iraqi currency is very strong because the reserves constitute 130 percent of the source of circulation from the funds in banks and others.”

Militiaman – Dinar Guru  Article:  “Economist: Going to print a currency of 20 thousand dinars will cost Iraq a lot of money”  There has already been allocations of large sums of money to print new currency issuance and it has been recorded and expensed by the CBI in 2018 era. At this juncture in time, there is no reason to print something that has no real effective utility, imo… They already have 100k and 50k notes for internal use for large transactions.

Kaperoni – Dinar Guru   There are several news articles regarding the central bank reserves reaching 87 billion, and discussion on the new 20,000 dinar note.

NORV – Dinar Guru    The good news is they are not going to implement delete zeros…”there was a proposal to delete the zeros from the dinar, but it was not implemented.”  The dinar is getting stronger and the very reason they will NOT delete zeros. The dinar value will naturally rise as the economy grows.

Mountain Goat – Dinar Guru  Article:  “IRAQ: CENTRAL BANK RESERVES EXCEED THE CEILING OF 87 BILLION DOLLARS”  Yes, 87 billion reserves already and it just the end of September. They will reach way over 90 billion as projected by the end of the year and will probably reach over 100 billion even. Yet the CBI says they have no intention of completing the project to delete the zeros  or raise the rate of the dinar against the dollar. Why? If this is not corruption I don’t know what is. We know for a FACT the economy of Iraq supported way over $3 dinar back in 1990. The situation of Iraq now is way much better with higher reserves and much more gold reserves. In fact they can almost back their currency totally with gold now.

Samson – Dinar Guru   Article:   “Karbala Refinery.. Unprecedented Iraqi oil production reduces 70% of gasoline imports”  Quote: “the Karbala refinery, which opened yesterday, will reduce Iraq’s import of gasoline by 70%, while they indicated that the completion of the development of the country’s refineries will lead to a surplus to be exported abroad.“

Kaperoni – Dinar Guru  Yes, Iraq will float the dinar but it won’t float until they diversify away from oil and create a private sector market economy and begin to prosper.

BGG ~ Why would they do such a thing?!? They are the richest oil nation in the history of all history. I very much doubt Iraq changes to conform to anyone else’s reasoning.

MilitiaMan – Dinar Guru   We are waiting on a calm atmosphere. Today’s vote of confidence for Halbousi may have been just the calm we needed...The CBI too, can calm markets. That is a part of their job. To delete the three zeros from the exchange rate is  directly related to the economy and market prices within the country. The result of deleting the zeros will calm the people and the markets, thus, the investors too...

Samson – Dinar Guru  Article:  “The Sovereignty Alliance congratulates the renewal of confidence in Muhammad Al-Halbousi as Speaker of Parliament“  Quote:  “The renewal of confidence in Mr. Al-Halbousi represents a true expression of the state of national consensus to move forward in building and developing Iraq, enhancing its stability, ensuring its security, and moving towards establishing the foundations of reconciliation, understanding and peaceful coexistence among its components.“

Mountain Goat – Dinar Guru   What does Al-Kazemi support as prime minister? Remember that the White Paper is his baby. He helped put that document together and plans to fully implement it. Within it is our reinstatement back to FOREX.   Kazemi is only in a “temporary” status as prime minister…If Kazemi is voted in as prime minister this time it would be a permanent 4-year assignment and Kazemi intends to “clean house” from this corruption. He used to be head of security for Iraq, so he knows of all the bad guys and what they have been doing to Iraq..

Samson – Dinar Guru  Article “Governor: The Central Bank has played a major role in revitalizing the Iraqi economy over the past years”  Quote “The Governor of the Central Bank, Mustafa Ghaleb Makheef, confirmed…the banking sector in Iraq is looking forward to increasing cooperation with the banking sectors in other countries and exchanging experiences between them in a way that serves both sides”

Samson – Dinar Guru  Article:  “The Central Bank intends to issue a banknote of 20 thousand dinars”  Quote:  “there is a previous project submitted by the Central Bank regarding the process of deleting zeros, noting that this matter needs to legislate a law and this project requires some amendments, and that the pursuit of this law needs to stabilize the situation in the country and the atmosphere must be provided to accept such transactions.“

Mountain Goat – Dinar Guru  …There has to be some good news…right?  “When the CBI talks I listen” and they have been talking a lot about the dinar as of lately.  So, just recently the Central Bank talks about the possibility of changing the price of the dollar and intends to issue a new category of currency a 20,000 dinar note.  Really?…This is one of those WOW articles… Is this good news or bad news? Why issue a 20,000 dinar note? It does not make any sense unless they are going to use it in place of the ever popular the 25,000 note. This could be a very good sign, a small indication that they are slowly moving to lower denominations but not fast enough as we want… [post 1 of 2….stay tuned]

Mountain Goat – Dinar Guru  There is talk that this new note may not happen under pressure by the IMF and to complete the project to delete the zeros instead and issue the lower denominations we are looking for. Once again in the same article the CBI talks about this project to delete the zeros too and tells us it is still on the back burner and they recognize it needs to be done but under the right conditions… [post 2 of 2]

Samson – Dinar Guru  Article:  “An economist explains how to control the currency sale auction”  Quote:  “the currency sale auction can be controlled through the government’s move towards equalizing the value of the dinar with the dollar or making it close to the dinar…”

Breitling – Dinar Guru   So where people are getting these negative vibes about Iraq – 1.  You’re wrong.  2.   You’re probably attaching it to, “I should be driving a Ferrari right now.”  Don’t do that because you’re clouding your judgement with your feelings…Your timing and what you want has nothing to do with Iraq…If you’re dragged down because of…the timing that’s one thing but if it’s some type of signal to you that the dinar is not going to revalue, you’re wrong…I’m still excited about it.  It is a very very good thing coming down the road…

Sandy Ingram – Dinar Guru  Article:  “Iraqi Prime Minister meets with European leaders”  Anytime we hear the words investments in Iraq, this is our cue to tune in as IQD investors…

Pimpy – Dinar Guru  Article: “Iran: Iraq will turn into the larger economic market in the region during the next decade”  Iraq is the gateway into the Middle East…you can go right into Iraq and it’s central to all the other nations that you want to do business with.  That makes it the heart of the region…Iraq is going to flourish if they can just get their crap together.

Sandy Ingram – Dinar Guru  Article:  “Iraqi Prime Minister meets with European leaders”  Anytime we hear the words investments in Iraq, this is our cue to tune in as IQD investors…

Samson – Dinar Guru   Article:  “Al-Kazemi arrives in Baghdad from New York”  Quote:  “On September 19, Al-Kazemi went to New York City, and during this visit he held meetings with a number of world leaders, and participated in the meetings of the United Nations General Assembly in place of the President of the Republic, Barham Salih.“