Dinar Observer Daily

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.

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

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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”

Dinar Investor – Jeff    You’re not going to see anything until…the second half of September… Remember last week they came into monies.  They said they were adding 170 billion dinar to the ’19 budget for reconstruction for Bagdad only and then also…the Kurds told them that they were going to release the Kuwait reconstruction money…to Bagdad. …You have to look at accounting periods because this is the movement of a large amount of money.  So the fact that they came into all this money in the middle of Q-3…that money is for Q-4…they have to walk into Q-4 with that money…Your target is Q-3 in this.  This article is confirming we are looking really good.  IMO.

RVAlready – Dinar Guru   Seems that the BANG BANG BANG at the BANG BANG BANG at the front door could be the RV trying to come in.  I suspect it will be taken care of by Monday morning.

Dinar Investor – Jeff   Article “Legal clarifies the decision of the Federal Court on the entry into force of Article 140 of the constitution“. This article is confirming everything that I’m sharing with you…don’t forget Article 140 was enacted back in 2005.  This article tells you it has to be amended…this plus the HCL can only happen at the very end.  This is telling you guys were at the end of this ride.  There is no question.  We know that for a fact…that means…you’re waiting until the second half of September…we look really good.

Frank26 – Dinar Guru    …on TV they are saying the Iraqi government is implementing reforms…to attract investment.  To boost growth and infrastructure and wanting to create new jobs…they say this will change Iraq’s economy…They even showed a video on this…news saying over 80% of citizens have cards now and will have over 90% in a short period of time…We are seeing more and more commercials on the electronic billboards today. Hear all about citizens using our new cards (Visa and MasterCard) at the new ATMs in commercials.  This is all over town…Western Union says on Sunday that…Iraqi citizens can send the Iraqi Dinar outside of their country.

Mountain Goat – Dinar Guru   Article:  “NO CONFIDENCE VOTE ON MAHDI UNTIL AT LEAST SECOND LEGISLATIVE TERM”   relax everyone. Mahdi is not going anywhere!

Mountain Goat – Dinar Guru   Article:  “ARTICLE 140 WILL BE ENFORCED”  IS ARTICLE 140 ALL COMPLETED? …Article 140 is not completed and needs a legal referendum…Again I am telling everyone that Article 140 is required.  It is part of the new Iraqi constitution and the entire constitution must be implemented and enforced prior to the reinstatement…

Kaperoni – Dinar Guru  Article today says the CBI reserves are up to 72 billion.   

Mountain Goat – Dinar Guru   Articles:  “A COURT ORDER WAS ISSUED APPOINTING AN INSPECTOR GENERAL IN THE CENTRAL BANK OF IRAQ“;  “APPOINTMENT OF AN INSPECTOR OF THE CENTRAL BANK OF IRAQ, USUALLY VIOLATED HIS INDEPENDENCE AND EXCEEDED ITS LAW”  This is WOW! news! …This yet another step in cleaning up the corruption in the CBI…The new law passed this year, the Financial Management Law states that an inspector general will be appointed over the CBI. The positions has very specific auditing responsibilities and will not interfere with monetary policy. So we are witnessing them implement this new law. This is all very good for us.

Kaperoni – Dinar Guru   I find it funny that the guru’s talk about ATM machines as if they’re not working, and some mythical RV must happen for them to work. Wrong!  They’re fully operational right now and have been so for quite some time dispensing dinar notes at the current exchange rate.

Mountain Goat – Dinar Guru   We still wait for the banking reforms to take hold. The CBI is still in the last phase of getting people on the credit and debit cards…The ATMs are up and working. They are distributing mostly the 250, 500 and 1,000 notes. Just recently they also re-introduced the 50 dinar notes too. The other planned smaller category notes are NOT yet in circulation but are being planned as the economic conditions dictate.  ...I do see our newest window could be until the end of August until the new session of parliament on Sept 3rd begins... I say this…because parliament told us themselves this was their plan to implement the currency reform before the end of the first session of parliament. We are getting close to the end.   In fact, they are already on recess and the end is technically already here. So, this window I speak of may already be all for nothing. But let’s wait it out and see what happens.

Dinar Investor – Jeff   …If they release lower denoms before the rate changes the first thing is people would have to carry large sacks or duffel bags of lower denoms and coins to the stores to buy consumer goods…the fastest way they piss the citizens off is if they have to start carrying very large bags of currency…because the rate hasn’t changed…second…if you released smaller notes to replace bigger notes and you don’t change the rate you’ve just devalued your currency…On March 20th the CBI already came out and said they plan to increase the exchange rate of the Iraqi dinar.  So if they’re going to increase the exchange rate means that the lower notes have to be release at the same time as the rate increases otherwise it will be a devaluation…

Kaperoni – Dinar Guru   You cannot stop currency auctions until you have something to replace it. The auction is what keeps the stability of the currency. Until Iraq accepts Article VIII, the dinar is traded globally, currency auctions will continue. Auctions also serve as revenue generator for the CBI…

Mountain Goat – Dinar Guru   We have read over and over again that they need to get the POS (point of sale) machines and ATMs (Automatic Teller Machines) up and running and most importantly for the citizens to use them. This is all part of the “project to delete the zeros”. So far, they have been very successful and are even currently paying almost 80% of the payrolls now to the citizens via electronic means. They want to soon get close to 95% by the end of the year. So the BIG push is on…  Later yes, these cards can be used overseas or out of country to also conduct international business but they will need FOREX to determine the rate for the conversion…

Dinar Investor – Jeff    The formation of the government…has everything to do with this and that’s what the delay is…the number one thing…you want to keep your eyes on is the formation of the government.  That’s what’s letting you know when you’re reaching the finish line…Back on February 27th of this year Iraq had a key meeting called the National Meeting.  All the members of government were present.  One of the things they did was…celebrated being a brand new “unified” country…three days later on Saturday an article came out stating Iraq is now “unified”…back on that “five year delay” article from 2014 the CBI stressed that they would not delete the zeros until Iraq had political stability…making the formation of the government the linchpin to the rate change…    

MilitiaMan – Dinar Guru  Article: “The Kurdish delegation’s visit to Baghdad will discuss the return of the region’s share of the budget to 17 percent”  So it looks like they are going to put this issue to bed finally!! I like the time line they have too. Seems to fit in line with all the education they have had on going.  All the pressures from so many angles are noted that support that everyone is ready for them to complete reforms and open up to the world by twining Baghdad and Kurdistan regions into one cohesive body working for all the common good. That time frame they give is immediately after Eid Al Adha… That time frame is upon us so very shortly. Eid is over this week our time… So, I am not in any hurry to poo poo this meeting. The timing of it is in my humble opinion to be right on schedule… A big window this weekend! imo.