It is with profound sadness I report to you all one of our diligent Moderators, Admins & friends – Charles Bright has passed away.
Several months ago it was found he had late stage prostate cancer. I was constantly amazed at his attitude and how he handled his fate. He has gone on to his great reward.
Charles is with Jesus now.
Samson – Dinar Guru Article: “Iraq is fifth in the world in oil reserves, the cheapest to extract and the most profitable” Quote: “the oil reserves in Iraq and Saudi Arabia are close to the surface and on the ground, which makes access to oil more accessible and the extraction process more cost-effective and more profitable.“
Samson – Dinar Guru Article: “Basra Gas announces that its production has increased to 1000 million standard cubic meters per day” Quote: “Gas production has increased by four times, as the company produces 1,000 million standard cubic meters per day, after production did not exceed 200 million standard cubic meters per day“
Pimpy – Dinar Guru Article quote: “The absence of the approval of the 2022 budget has hindered taking advantage of the rise in oil prices to implement new investment project – In addition with weak business environment and efficiencies in public sector investment, mismanagement, corruption and the lack of adequate infrastructure. All these factors constitute major obstacles to attracting foreign investment despite some progress in the recent years.” This is the big reason why you’re not seen any real increase in the Iraqi dinar exchange rate. Those are huge steps…that need to be taken before they can increase their purchasing power and before they can increase the value of the Iraqi dinar…
Sandy Ingram – Dinar Guru Article: “Blaming Kurds for unrest, Iran threatens Iraq with offensive” Breaking news out of Iraq – Iran has made good on their threats. They have lit up Northern Iraq like a Christmas tree with drones and missiles…the United States condemns Iranian strikes in Northern Iraq…
Mountain Goat – Dinar Guru …the good new this period is that they are cracking down on the corrupt banks in Iraq as they already closed 14 of them. Next the US Treasury is in Iraq briefing over 35 of the existing banks how to conduct their banking practices and “best practices” for the banking sector…So why are they cracking down so heavily now? …I am hearing from my CBI source that part of why the US Treasury is now in Iraq is also to review and implement measures for auditing the expenditures of the 2023 budget once it is opened.
Samson – Dinar Guru Article “In numbers… an unprecedented value for Iraq’s foreign reserves” Quote “Iraq’s foreign reserves are the highest today in the country’s financial history, which amounted to nearly 90 billion dollars…the exported Iraqi currency also amounted to about 150%, meaning that every dinar is exported to Trading in the economy is now covered by foreign exchange one and a half times.”
Walkingstick – Dinar Guru There was $800 million flowing per week out of Iraq from the CBI banks illegally. It was being done by the political thieves…money exchangers… Maliki… auctions…fake contacts or directly stealing it and not caring if they were caught. Only the CBI can supervise their banks and they have done a superior job. That is why the international world is willing to pour into Iraq with their currency converted into Iraqi dinars.
Mountain Goat – Dinar Guru Article: “IS IT TIME TO CHANGE THE EXCHANGE RATE?” Quote: “…go to the program to delete the three zeros so that the dinar became a respectable and strong currency and an actual strategic and national stockpile that is better than the dollar and gold together.” Alleluia! Alleluia! Yes, this…is exactly what we want to hear. I do not think they will ever tell us directly they will reinstate the dinar but we know if they do the project to delete the zeros they will have to reinstate it. Plus the CBI told us this is the next step way back in 2011 when the told us the overall process of how to get the dinar back to FOREX. By the way this is the second article already in a week that they mentioned the project to delete the zeros….
Militiaman – Dinar Guru Article: “An economist shows the period needed to restore the exchange rate.. These are its effects” This guy seems to be on a different planet.. 5 years? lol For crying out loud the CBI has already paid for the currency for the GOI to issue once ready, back in 2018.. The focus here is the policy of the government. It is their baby in sync with the independent CBI.
Nader – Dinar Guru Article: “Iraqi Prime Minister has reportedly told a press conference that his government intends to increase the value fo the Iraqi dinar (IQD) against the U.S. dollar.” 1450 is making fun of us…
Pimpy – Dinar Guru It’s getting interesting over there in Iraq. The fact that these people I thought for sure would do whatever it is that Maliki wanted seem to be resisting anything that Maliki wants…
Militiaman – Dinar Guru Article: “The Iraqi president refuses to accept Al-Maliki as his deputy, and the Sudanese is keeping the security institutions away from the control of the militias.” This is a welcome sight to behold…suggests that the PM Sudani is playing the line that was drawn in the sand by Al-Sadr…The GOI has forward movement and an agenda likely with timelines to be complete and along side and in tandem with the CBI…lets see how the GOI and the CBI play their cards.
Samson – Dinar Guru Article: “Parliamentary Finance clarifies the return of the dollar exchange rate” Quote: “A member of the Parliamentary Finance Committee, Jamal Kougar, explained, today, Friday, that changing the dollar exchange rate is related to the decisions of the Central Bank, pointing out that the bank has assurances that the exchange rate will continue without any change, at least during the next year.”
Petra – Dinar Guru One is curious about all the subterfuge going on the last 3-4 days. How many times does a country have to “defend” in one aspect the fact they are “not” going to change the exchange rate….and then, we see articles coming out from within Iraq that this is the very move that needs to be made. Couple that with the input from the WB/IMF and other agencies telling the country to move forward and open themselves up for partnership, investment, and international business. It doesn’t get clearer when one of your largest trading partners (Jordan) opens up a bank down the street.
MilitiaMan – Dinar Guru Article: “Saleh Al-Hamashi : Next year’s budget may exceed 170 trillion dinars” Let’s say the government acts on Article 110 of the constitution and if they drop 3 zeros from the exchange rate the ratio becomes very interesting. It gets much closer to a 1:1 ratio than it is now be sure. I could be off, but, it sure looks interesting.
Pimpy – Dinar Guru Article: “The secret of the Sudanese government’s retreat from changing the exchange rate of Iraqi dinar” Sudanese made a promise to the people that he would…change the exchange rate…now all of a sudden he appears to be backpedaling just a little bit. Quote: “Sudani confirmed…Tuesday that the decision to change the exchange rate of the Iraqi dinar against a dollar is a prerogative of the Central Bank and we are committed to implementing what the Central Bank deems appropriate.”
Nader – Dinar Guru You see all what’s going on with the exchange rate…they took it down, they can easily reinstate it and the economy will not be touched…especially now…it’s booming in Iraq. It’s nice you can get money left and right…
Breitling – Dinar Guru Watch Iraq. It’s very positive. It’s going to happen…but you need to be making money in other areas because we can’t control the date. I think a lot of people don’t listen to that advice…Iraq is very positive. I’m not getting out…I haven’t heard anything negative to this day, seen anything that going to stop them from a revalue.
MilitiaMan – Dinar Guru …With the World Bank, IMF, UN, USA, etc, giving the green light of support we could say that the time is now…The CBI has nothing but good reserves, gold reserves, high oil pricing, taxes and tariffs are electronic as is more and more of the Government, inflation under control and the green light.. Looks like a perfect storm for an RI…
Sandy Ingram – Dinar Guru The new prime minister of Iraq said the following on Tuesday, Its government with the help of the Central Bank of Iraq will do is best to increase the price of the Iraq dinar against the U.S. dollar. Article: “Iraqi premier to raise Iraqi dinar value” He did not say what the revalue would be.
Pimpy – Dinar Guru The 8th fastest growing economy, $9 billion a month in sales, a possible $200 billion in surplus money. It just seems like Iraq is teetering right on the edge of finally getting back on track and being a great nation and ready to do business internationally. I’m looking forward to it and it’s going to benefit the Iraqi people…if they prosper then hopefully…their currency will increase in value…
MilitiaMan – Dinar Guru Article: “Bank of Jordan opens its first branch in Iraq” Jordan opening a bank branch is likely for that they know there is going to be massive trade. Opportunities will abound like ever before in the 60 years they have been doing business. Iraq will be a central hub and Jordan would know that and is acting on that fact now.. A good thing…
Samson – Dinar Guru Article: “Announcement of a tender for the supply of currency counting and sorting machines” Quote: “The Central Bank of Iraq announces a tender for the processing of currency counting and sorting machines, according to the technical specifications and conditions contained in the sixth section of the standard document for the processing of goods.“
Nader – Dinar Guru My opinion is if the CBI does anything with it [the dinar rate] it’s going to be in 2023. Everybody’s gonna have to be patient. You have no choice…that’s the truth of it…sometimes the truth hurts. The truth is brutal sometimes. It’s brutal but you have to accept it…
Pimpy – Dinar Guru If they do change the rate, there’s no doubt that at the very least they’re going to change it back to the 1190 which was the previous rate. That’s like a 22% or 27% increase in value…if it jumped up to a $3.22 rate you’re talking about a 4000% increase in value. That’s just not going to happen. I’m not saying it can’t get to $3.22 but it’s not going to happen instantaneously.
MilitiaMan – Dinar Guru Article: “The World Bank: The policy of changing the dollar exchange rate is the prerogative of the Iraqi government“. The World Bank looks to be giving the green light on the policy of changing the dollar exchange rate. It is the Iraqi Governments prerogative.. The Article 110 of the constitution talks about this. No doubt this is giving the GOI support to get on with reforms..
Samson – Dinar Guru Article: “The World Bank: The policy of changing the dollar exchange rate is the prerogative of the Iraqi government”