Mountain Goat – Dinar Guru From my contact at the CBI: In the Mosque last Friday, they talked about the dinar once again. They told the people the dinar will “soon” be on the level of the other middle eastern currencies. So this explains to us why they published in Iraq that list of the top ten powerful currencies and it list the top 4 as middle eastern currencies …Then to make our news even better, they said…that the “newer notes of lower numbers” meaning the new lower denominations would be out in public to support a new rate change. Folks they are preparing the public to what is about to come. [post 1 of 2]
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Mountain Goat – Dinar Guru If this was not all amazing news out pops an article about the coins and I quote – “issuing coins in order to restore the value of the small currency, which has become worthless in daily transaction”…for Iraq to now be talking about bringing back the coins is yet another sign they must first change the rate to give the coins real value…we know these coins are available and ready for distribution. [post 2 of 2]
Militia Man – Dinar Guru Alaq…when he’s saying he’s got 70 trillion dinar outstanding, he’s not necessarily saying he’s got 70 trillion physical because they don’t have that. They didn’t print 70 trillion in cash and coins…you have to be careful with the M1 and M2 description… value is the key point…
Pimpy – Dinar Guru Any other news being reported if it doesn’t come from the central bank is just B.S.
Nader – Dinar Guru This new rate  has been approved by everybody besides parliament. Parliament have to approve it now and that’s it.
Sandy Ingram – Dinar Guru The real reason for the IQD RV delay…Iraq is expanding its tourism industry. If they can maintain safety for global travelers both Christians and Muslims from around the world have Iraq on their ‘bucket list’ of places to visit. Why? Because Iraq is important to both religions…This will lead to a massive number of US dollars and other global currencies. The IQD to the US dollar is 1300 dinar to 1 US dollar…US expats receive income in US dollars and we spend in the currency of the country we are in. We live well on less…Now ask yourself, ‘Would you be quick to increase the value of your currency if you were Iraq?’
Militia Man – Dinar Guru Triple zeros don’t need coins. They don’t need small denominations but yet they spent $50 million on it in 2018. Don’t be alarmed to see them make an adjustment again for the currency to help the citizens out one more time. It’s very possible we could see that happen. Let’s just say they moved it back to 1100 or 1000 in a short period of time they would only do that to help the citizens. If they don’t and we see something different, in a bigger way, I think you’ll get the picture…
Clare – Dinar Guru Article: “Al-Alaq: 70 trillion dinars outside the banking system, and our next focus is on small projects” Quote: “there are more than 70 trillion dinars outside the banking system for circulation, and this is a very large amount and represents a high percentage of the gross domestic product, so it is necessary to focus in the next stage on finding the necessary means to activate the deposit movement through several procedures in this regard.“
Nader – Dinar Guru Tomorrow it’s Ramadan… What’s happening between now and after Ramadan it’s big. Everybody’s gonna be happy with it. The rate is gonna be 1132 for sure. It’s gonna go down this month maybe…
RVAlready – Dinar Guru This now seems fairly straightforward – finish re-educating on the new currency in Iraq, and release the RV. Feels like we are about done.
Breitling – Dinar Guru It’s always been strange. When we first got into this and I started reporting on it there was more a buzz coming from Iraq, ‘when are they going to add value?’ than there is today. But today they’re in a better position to do it. So it’s kind of strange.
Henig – Dinar Guru Article: “Political insistence on enacting law ‘postponed’ 16 years ago – urgent” Quote: “the law has remained for 16 years in the shelves of parliament, but the political agreement stipulated that it be passed, and this is what was included in the government program of Prime Minister Mohammed Shia al-Sudani as well. This law has become an urgent legislation because oil belongs to all the Iraqi people, and this law will guarantee the right for all…Halbousi added, the good relationship between the federal government and the regional government will soon push the legislation of this law.“
Clare – Dinar Guru Article “Ali Al-Alaq to Shafaq News: Wait for a decrease in the exchange rate of the parallel dollar” Quote “The Governor of the Central Bank of Iraq, Ali Al-Alaq, expected, on Tuesday, a decrease in the parallel dollar exchange rate (the market price and local exchange rates) during the coming period…The parallel price means the exchange rate of the dollar in the market and exchanges, and not the official price set at 1132 dinars per dollar, according to the decision of the Board of Directors of the Central Bank of Iraq, which was approved by the Council of Ministers.” [NOTE: The official CBI rate is 1310…this article states 1132. Is the article an error, leak or foreshadowing what is coming? ]
Militia Man – Dinar Guru Alaq the central bank governor came out today and he talked about that they have more than 70 trillion dinars outside the banking system for circulation….I believe he’s saying in value terms – that they have 70 trillion dinars worth of assets or value out there. So be careful when you see that and you read it…I think…when he says he has 70 trillion dinars he’s talking about he’s got a lot of money in assets. That means he can support and defend his currency. That’s my belief. We’ll have to see how it turns out but it really does sound like it’s going in our direction.
Nader – Dinar Guru I’m sure you all heard about the 73 trillion dinars…They’re talking about the 70 trillion we in America, Canada, Australia, France, Iraq, wherever in the world – we’re sitting on it and we don’t want to give it up…The good news here…to get the 70 trillion dinars back to the bank of Iraq they’re gonna have to come out with a very good rate…whoever hold(s) the money [will be] happy.
Samson – Dinar Guru Article: ”Central Bank Governor: We have more than 70 trillion dinars outside the banking system for circulation“
Pimpy – Dinar Guru Looks like the momentum is in favor of Iraq and this new government. All the things we’ve been speaking about over the last couple days seem to be happening quickly…We got a 3-year budget now in the hands of the representatives. It looks like we have an agreement between Kurdistan and the federal government of Iraq. All seems well so far in Iraq.
Nader – Dinar Guru “Fifth Baghdad International Dialogue Conference -US Ambassador…Iraq can reach energy self-sufficiency in 10 years. Some say in less time…approximately half of Iraq’s population is under 20…they want the skills necessary to compete in an increasingly connected global economy…they want a strong economy including a vibrant private sector that produces jobs…The United States is committed to help Iraq build its economic foundation...”
Sandy Ingram – Dinar Guru A Republican Senator or Representative has introduced a bill in congress to get rid of the Income tax and possibly the IRS. This could mean NO taxes on our exchange. There’s a long road before any of this could happen…
Clare – Dinar Guru Article: “Al-Sudani: We look forward to transforming Iraq into a center for world trade through the Al-Faw port project“ Quote: “..transforming Iraq into a center for global trade between Asia and Europe through the great port of Faw project and everything related to it.” economic zones, residential communities and tourist attractions. We look forward from this giant project, which will extend over an area of more than 20 square miles, to open the way for an economic boom for Iraq,”
Militia Man – Dinar Guru They spent somewhere around $49,429,000 in 2018…on currency issuance. That would be for the new small category notes and potentially the fils, which are coins…March 17th there was the article that came out about the coins. It also spoke about the deletion of the zeros. Those 2 things go hand in hand. Quote: “the central bank is the only one responsible for supplying the currency, bank notes and coins to the country of Iraq.” That’s the central bank’s job. They did that in 2018…we know they did issue currency to the tune of about just under $50 million worth and they did it for a reason. [Post 1 of 2]
Militia Man – Dinar Guru Quote: ‘The finance committee and the Iraqi parliament calls on the central bank to reintroduce the metal currency.’ This was on the 17th – reintroduce metal currency. Why would you reintroduce metal currency if in fact you’re going to come out as they state in the budget – 1300? Sounds to me from what we’ve read in the article…they have a caveat that they can amend the budget at any time… Quote: “small coins facilitate many daily banking transactions as the use of metal denominations and their circulation will give currency a legal value.” So not only do they have value but it’s legal… [Post 2 of 2]
Pimpy – Dinar Guru Article: “Iraq Must Not Squander Another Opportunity to Rebuild” It’s the 20th anniversary of our attack on Iraq…20 years since the start of the war, since Iraq has been “liberated”…I like to believe this time around things are going to be different. I’m not happy about what happened with Sadr bailing out and allowing the coordinated framework to be there but so far the coordinated framework appeared to be doing all the right things. Let’s hope they stay down that path – not for their own sake but for the sake of the Iraqi people…
Militia Man – Dinar Guru [CBI governor Alaq talking about Iraqi dinar becoming a major currency] The central bank is trying to reevaluate all monetary policies and to control the dollar in the parallel market expanding the circle of direct dealings in international currencies. That was back in February…they were including…yuan…euro… yen…and dollar…Why is that important? [Post 1 of 2]
Militia Man – Dinar Guru Because they’re going to try and facilitate the transfer of monies in international trade in foreign currencies … with the Iraqi dinar. As far as I can tell that happened…I think we can take it seriously that something’s really up…the migration of the ISO-20022 is an international payment transaction system starts the 18th to 19th. The data is out there. It’s not something they’re gonna not do…as of yesterday they’re basically stating that they have no delays and they’re going to migrate… [Post 2 of 2]
Nader – Dinar Guru I’m surprised the rate didn’t have changed yet too. A lot of friends of mine they’re surprised. We see. Monday is the 20th anniversary of Iraq. We’ll see what’s going on...
GameofPatience – Guest Guru the budget is waiting on the rate. Kuwait changed their rate on 3/24/91, this year that would be the weekend of 3-25/26. Iraq and Kuwait have the same budget periods April – March.
BobTheTaxMan – Dinar Guru We as private holders of this currency were considered speculators anticipating gains from this revaluation …This is not tradable on the Forex. It’s not even usable here in the United States…for us [In the United States] we’re just holders. That’s part of the reason why it’s being treated as an ordinary income instead of a long-term capital gains.
Nader – Dinar Guru The budget says about the exchange rate…1300. It didn’t say 1310, 1320… Article… said the exchange rate in the budget is 1300. I was surprised the budget has a rate in it in the first place. The second thing, the very good news…they made it open. They can exchange the rate anytime they want. Why they did that? For a reason…that means 1300 is not fixed for the next 3 years.