Dinar Observer Daily

Dinar News Flash  The news is flooding in…Iraq’s new prime minister has done what no other prime minister in the last 10 years has been able to do.  Iraq’s parliament voted and seated the last 7 ministers of PM Al-Kazemi’s government.  If this is fact and it appears to be, this is a monumental accomplishment and fits with everything else Iraq’s leader has done in the last month…

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MilitiaMan – Dinar Guru  Article:  “Member of Parliamentary Finance: The country’s financial situation is very critical and we are working to get out of the crisis”    Another reiteration of what is going on. But, Al-Nassery just told us what he is doing and that is going into the social market economy. That includes the Secondary Markets…They are not going into the market economies of the world at a program rate. The theme is not wait and stagnate it is ACTIVATE!!  They say in the current week to come…

Dinar Investor – Jeff   Article  “Parliament passes vacant bag candidates and succeeds in completing the Al-Kazemi government”  They have completed the full formation of the government.  But remember I told you there were two things needed which are the linchpin.  Two not one.  They have to finish their agreement with Kurdistan and they had to finish the last 7 ministers.  The last 7 ministers is done.  Out of 2 you have 1 remaining.  Article “Next week a delegation will visit Baghdad to resolve the agreement on the oil file“. This is Kurdistan…you’re gonna have everything pretty much done within a week.  They should have this done probably by the 10th…they’re on track to finish the two remaining items.  They already got the government done.  They could most likely have the second last remaining variable…done next week…that will allow them to probably change the rate during the second half of June…It looks like Iraq will go international as well during that second half of June.

Mountain Goat – Dinar Guru   Article:  “INCLUDING STOPPING THE CURRENCY AUCTION AND CHANGING THE DINAR PRICE .. 5 DEPUTIES PRESENT PROPOSALS TO BRIDGE THE BUDGET DEFICIT”   …this is one of those WOW articles.  …these are members of the House of Representatives so the next area to take up these recommendations would be the Finance Committee and then the CBI. But I have to tell you this is already in motion and the CBI is already working on these measures. But it was very nice to see parliamentary members making their ideas heard and for once coming up with sensible recommendations that will work.

Dinar Investor – Jeff  …we’ve got a lot going on.  The news is red-hot…we’re probably around the second half of June…This thing is coming upon us.  We’re at the very end of it.

MilitiaMan – Dinar Guru   Article quote:  “The President of the Republic emphasizes adopting a balanced monetary policy and working to strengthen the financial situation”   There is no stopping this now from the looks of it. All has been coming together and shows that all the years of work, now are aligned and ready to go international… They have published time lines for contractual issues, that will have to be adhered to. I am smiling!!

Kaperoni – Dinar Guru  A couple of great news articles this week… 1 an opinion piece on changing the dinar exchange rate.  The other seems to be recommendations from the parliamentary finance committee today including floating the dinar.

Mountain Goat – Dinar Guru   …they are now actually openly debating all the options as to what to do to save the economy of Iraq. Part of these discussions does include ending the currency auctions and the possibility of a “float” but, as we can see, they mean a float against other global currencies. You can’t float the dinar against just the US dollar as it is now solely pegged just to the US dollar. This is now a “fixed” rate. So the discussions evolved around a drastic change. By the way the CBI has already announced it WILL NOT devalue the dinar as a solution…

MilitiaMan – Dinar Guru   Article:   “After Coming Under Heavy Criticism…The Central Bank Stops The Currency Auction”  Now add in the meeting with Alak and the President on financial ongoing’s. Then think about the upcoming meetings to vote on Cabinet, then add in the ISX is  scheduled to open again on Sunday, then there is the SFA for the 10th – 11th. All the talk about the borders, taxes & tarrifs, fees all being electronic, the contracts adjusting for shipping costs by 07/01/2020 need to be in place by then. Those things need an international rate and pronto!! The convergence is astonishing! imo …

Adam Montana – Dinar Guru  These topics will get you up to speed on “the rest of the story” quickly:

1.  Kazemi-Kazammi is not a Kurd, he’s not “one of them”, but the Kurds are supporting him. This has monumental potential:
2.  Iran has lost their power. The “Iran factor” that has held Iraq back in the past is just that… the past.
3.  Kazzami has reportedly made his picks, and Parliament should rubber stamp them next week. This is progress…They may not vote every one of them in, but 80% will be enough to move forward.
4. …Parliament is working…
Life is good, things in the desert look positive…

Dinar Investor – Jeff  …there’s two things they got to do for the rate change. – 7 ministers of the cabinet. – Complete that agreement with Kurdistan and sign off on it.  They’re most likely to complete those the same week.  The reason why they didn’t do it today, it’s real simple.  It’s because they have a rate change date already set and scheduled.  It’s done…the last remaining items they’re theoretically the linchpin for the rate change.  What they’re going to do is finish these items in closer proximity to the timing of the rate change…when you see these items they are confirmation that the rate change is about to happen…you’re right on the edge of the rate change.  This rate change is not going into July.  It’s happening in the second half of June.  The date is right in front of your eyes. 

Adam Montana – Dinar Guru   …After a series of unsuccessful attempts at appointing a Prime Minister, Kazemi (RV Kazammy!!!) is approaching only two short months in office, but he’s seriously kicking butt!  We don’t have an HCL agreement (yet), so we don’t have an RV. But we are getting close. Kazammi is possibly the first political figure in a position to have a real chance at getting the HCL to pass. One of the reasons is stated on Wikipedia fairly well:  Quote:  “Al-Kadhimi was a vocal opponent to the dictatorship of the Saddam Hussein regime.[3] He left Iraq in 1985 to Iran then Germany and settled in United Kingdom and lived in exile for several years, yet is not affiliated with any of the Iraqi political parties.”  The HCL is a VERY polarized topic. In order for it to come together, a couple of opposing parties have to agree on it… and a neutral party as mediator is the best way to go.  That’s our guy Kazzami!

Breitling – Dinar Guru   …Iraq is so on the edge of adding value to their currency.  I’m waiting for more information coming in.

Delta – Dinar Guru  …this is what the media is telling everybody in Iraq right now…they’re about to come out with a new exchange rates…they’re going to implement the financial reforms and currency reforms and they’re going to change the exchange rate of the IQD…it doesn’t get more crystal clear than this…

MilitiaMan – Dinar Guru   Article: “The government is preparing to issue a new reform package mid this week”   Wednesday there is to be meetings on the Laws needed for many things that include Laws for Monetary Reforms. I suspect that since they have been talking about the 2019 FMLA and the secondary markets it will be a day to watch close. …the reforms need the international rate to be applied to the currency to facilitate the ability for the IQD and the ISX to interlink internationally...

Delta – Dinar Guru  …everybody knows I watch…the Iraqi channel.  I speak the language.  That’s old news for you…there was this information coming up from Iraq channels and the Central Bank of Iraq they’re coming out with new rates and the new rate is going to be…managed, not float.  Then last night one of the financial committee of the parliament…he had an hour and half interview with one of the major Iraqi channels…it is just amazing…he mentions…that they’re going to change the exchange rate.  I know some of you might ask, ‘Did they say that on live TV?’  Of course they said that.  There’s no secret anymore that they need to change that…this is unbelievable!...I’m not exaggerating.  No.

MilitiaMan – Dinar Guru  Article:  “Political movement to choose a foreign minister before the strategic dialogue with Washington”   Quote:  “Prime Minister Mustafa Al-Kazemi wants to complete the vacant ministries as soon as possible, indicating that the delay is due to deep differences between the political blocs”   There you go… The pressure is on and and big time. The 10th is not far off. imo They need time for the minister to see the files that they will discuss at the SFA meeting… More good stuff for us… imo…

Mountain Goat – Dinar Guru   I am still hearing from the CBI that they fully intend to complete the project to delete the zeros and do it much sooner than later. But I have no official article or announcements yet from the CBI in this regard. I was told we should see some announcement soon of the progress and what they intend to do next. We still wait for this from the CBI. It is supposed to come out this week.

Pimpy – Dinar Guru  …There’s a lot of things happening in Iraq that I can’t help to think to myself I’m not sure how they’re gonna do these things or how any of these are gonna be possible without having a currency that’s not recognized internationally.  I just don’t know how some of these agreements that they’re getting into are going to be able to be fulfilled without having their currency rate changed or at least recognized internationally.  There is some type of conference that’s coming up in July where they open up to the rest of the world to come on in and think about investing into Iraq.  There is going to be a plethora of nations invited and I have a feeling you’re gonna see a lot of them come.   Having said that it’s gonna be really hard for this to be accomplished if they don’t have a currency that’s recognizable internationally…

Kaperoni – Dinar Guru   As for the dinar’s value, it is not at a program rate.  That is guru’s taking a directive from the IMF and misrepresenting that meaning.  The dinar exchange rate is it’s real rate… The currency is already an internationally-recognized currency they just haven’t accepted IMF Article VIII making international banks more willing to want to engage in commerce with it.

MilitiaMan – Dinar Guru    Article:  “The government is preparing to issue a new reform package mid this week”  Wednesday there is to be meetings on the Laws needed for many things that include Laws for Monetary Reforms. I suspect that since they have been talking about the 2019 FMLA and the secondary markets it will be a day to watch close. …the reforms need the international rate to be applied to the currency to facilitate the ability for the IQD and the ISX to interlink internationally…

Mountain Goat – Dinar Guru    Article:  “THE NATIONAL:  SENIOR IRAQI OFFICIAL LAYS OUT JUST HOW BAD IS COUNTRY’S FINANCES”    So again we hear news about the necessity for Iraq to bring in investors and move to a private sector economy, taking pressure off the GOI to pay out these salaries each month. Why not let the private sector pay these salaries? But this will not come unless the investors flock in and this will not happen until they know that Iraq has a stable, global currency that can be easily exchangeable to their own currency of their country. When will Iraq reform their currency and get out of this program rate and 3 zero notes? They have gotten so used to surviving off the US dollar now it is hard to move from it.

MilitiaMan – Dinar Guru  Article:  “Al-Nusairi: Iraqi-Gulf economic ties are a step in the right direction for Iraq to return to its Arab depth”   They have been vocal in recent past per [Guru] Delta (iho) that they have opened the ITB in SA yet, as they are like every one else, the need an international rate to deal with… Looks like the game is at the 2 minute warning now…  imo… They are talking about internal and external banking that interlink with each other… They know what to expect by now… imo… Oh ya! It is not a program rate. They are talking on TV a rate change is coming. Alak told us and have others the right thing to do is not devalue the currency but to give value to it…imo! That is exactly what they are going to do…imo.

MilitiaMan – Dinar Guru  Article:  “Newspaper: Iraqi-American negotiations will start on June 10”  I have a strong feeling they will need to have things sorted MR [Monetary Reform ?] wise prior to the meeting beginning on the 10th. They have a minster they need to place too, prior to that. It looks as that may be slated for Wednesday too. imo The convergence of many things of late is by no coincidence. …ECONOMIC is to be a main focus in the future, imo…

MilitiaMan – Dinar Guru   Article:  “The Stock Exchange announces postponing its sessions until next week”   Fascinating they kicked the can down the road again… Allows for any necessary adjustments that may come their way? lol Yep, imo… With the CBIESD site still showing a massive change to the ISX Indice the chances of them coming back again at a program rate seem to be a no way situation, imo.. From today through June 4th. That is Thursday… Man things look good for us. If they need to notify people, from now through next Saturday could be a very interesting time to do so… If need be… imo

Dinar Investor – Jeff  …this is my opinion.  Nothing more.  I’m strongly looking to the second half of June for a financial blessing and for Iraq to go international…

MilitiaMan – Dinar Guru  Article:  “A Kurdish deputy calls on the Minister of Finance to take steps to stop manipulating Iraqi imports from Zakho to Basra”   another gem talking about implementing radical financial reforms… Radical as in the removal of three zeros and apply REER (Real Effective Exchange Rate)? That would work for me..

Mountain Goat – Dinar Guru   …Today’s news continues with the saga of Iraq and its inability to meet the June salaries… So far we see the solution for May and June’s salaries was the borrowing from within the banks of Iraq. But this is only a temporary measure…I am hoping this is a wake-up call for Iraq to now move forward with its reforms in all aspects of non-oil-based revenue generation and allowing foreign investors to comfortably come into Iraq to establish businesses. There has to be some drastic changes and the new prime minister Al-Kazemi must be the one to make them…It may seem gloomy and doomy at times but I see the plan playing out and taking shape…

MilitiaMan – Dinar Guru   Article:  “What does it mean to reduce the Iraqi dinar price against the dollar? .. An economist answers”   Gotta love the education they are doing. The explanation of the choices both good and bad..They will make the right choice and they have been telling us about it… the amount of countries coming into Iraq now shows that the doors are about to fully open and they are gearing for…to have the CBI share with the world and the Iraqi’s, as to what they can expect when the exchange rate changes.  I suspect those that have a need to know will have been all ears by now… So I am surely liking what I have been told would come is coming…