Dinar Observer Daily

Paulette – Dinar Guru  …The Federal Court is hearing the case for dissolution…Legal expert Taminni has clearly laid out the fact that the Federal Court could Dissolve parliament and set up the President to announce the date for early elections and the Caretaker GOI of Kazemi be given Emergency Powers…  That is what I am hopeful for!

Samson – Dinar Guru  Article:  “The toll of Al-Khadra clashes rises to 10 victims and 200 injured, and the use of heavy weapons in the battles“

Sandy Ingram – Dinar Guru  Article: “Two killed as Iraq’s powerful Sadr quits politics, loyalists storm complex”  Al-Sadr said he would quit politics prompting his loyalist to storm a parliamentary government complex in Baghdad…gunfire echoed over the capital…

Kaperoni – Dinar Guru  Tensions in Iraq are beginning to rise violence is now starting. There’s been some rockets falling on the green zone including near the US Embassy. This is getting out of hand.  The inability to form a government under the current political situation has come to a head in Iraq.

Dinar Community Update –  This week President Biden signed into law the $437 Billion spending bill ironically called the Inflation Reduction Act (IRA).  $80 Billion is to be used to increase the size of the IRS...  Why does this matter to you?  Many disagree on how we’ll be taxed upon exchange.  Some feel there will be no tax, others feel you’ll owe capital gains, others feel it will be treated as ordinary income.   In the end only one opinion matters – the IRS’s.  Consult your tax professionals to determine the right reporting for your unique circumstances.   $45 Billion of Biden’s Inflation Reduction Act money is specifically for tax collection and enforcement.  Reports are between 50,000 to 87,000 IRS agents will be hired.  Are they coming for you?  Are they coming for people with a financial windfalls?  Obviously they’re coming for someone.

Petra – Dinar Guru  Article: “The United Nations and Al-Kazemi renew the call on the parties to save Iraqi blood”  The UN has the authority under their charter to interdict into national affairs of sustaining members of which Iraq is obviously one…If the UN forces dissolution of Parliament PM K, Halabousi, and Saleh then…there is no arguing or filing a lawsuit action here…Secondly…If the UN forces dissolution then the Judiciary do not need to make a ruling which, was to happen tomorrow. How better scripted is this event and action? IMO, this is going to all happen very quickly!

Clare – Dinar Guru  Article:   “Green protesters surround the Republican Palace, and riot control responds with water cannon”  Article:  “The Green Zone is completely closed and the joint operations call on the demonstrators to withdraw immediately“  Article:   “Dozens of demonstrators storm the Iraqi Republican Palace“

Samson – Dinar Guru  Article:  “Al-Kazemi’s most prominent advisor: We have an abundance of money without legal cover to spend it! ” Quote:  “that abundance did not enter the paragraphs of the Food Security Law, as well as the Federal Court’s decision is clear on the issue of not sending any bill through the caretaker government, and this is what prevented us from classifying this abundance legally.“

Militiaman – Dinar Guru   Article: “Waste and smuggling” …the central bank sells Iraq instead of the dollar”  Looks like the CBI has been sorted from within now… With the new Digital System they have been apparently able to get the corrupt sorted out. Stopping the AUCTIONS was to be expected. I have a strong feeling things are very much so in our favor…  Working to sell Iraq, as in IQD?  We shall see.   Stopping the Multi Currency Practice?  Again we shall see!

Sandy Ingram – Dinar Guru  Article:   “Iraq’s top court sets August 30th as date to discuss case for dissolving parliament”  …This article implies that the dissolving of parliament is still on the agenda…

Pimpy – Dinar Guru  The military does not normally handle any type of exchange rate change for any currency around the world…there is no military ‘standing by’.

Mountain Goat – Dinar Guru …When back on FOREX is the ONLY time, we will be able to exchange and not before…The new rate we want must show up on FOREX in order for the banks to legally exchange our dinar at the rate we want…

Samson – Dinar Guru  Article:  “The Central Bank: The cash reserve will rise to $90 billion by the end of 2022“.   Quote: “the current reserves of the Central Bank amounted to more than 80 billion dollars,” noting that “the gold reserves amounted to more than 131 tons, as it increased by about 30 tons, and this led to a high ranking of Iraq globally…”

Paulette – Dinar Guru  Some of the confusion I believe is in terminology…Parliament and the “government” are two totally separate and distinct entities.  The members of the GOI do not attend Parliament unless requested to do so by Parliament and the members of Parliament never attend sessions of the GOI.

BobTheTaxMan – Dinar Guru  …Exchanging the IQD in a high amount is going to be a costly event…to give up half of it just because you want to panic isn’t good thinking at all…they do want to add an extra 3% tax on anybody who cashes in more than a million.  Any funds and properties you acquire could be exposed to estate taxes on your passing.  That’s the nasty part.  Determining a plan before the revaluation could literally save you millions in taxes.  It could provide you a lifetime of income and offer potential tax-free exchange…

Pimpy – Dinar Guru   [Pessimistic Comments about the dinar] ‘it’s a scam.’  ‘It’s a ripoff.’  It’s a currency.  The currency doesn’t rip people off.  There are people out there using the dinar to rip people off.  There’s a huge difference…

Tivon – Dinar Guru   Comex 589, Basel 3 Compliant, ISO-20022 – These three things should always be the deciding factor as to who you decide to bank with. I don’t care about the title or name of the bank. If they are not operating within those parameters then you should not put your money in any of those banks…Then…from there – How much insurance can they cover…Then…interest… Remember banks can be foreclosed on too.

MilitiaMan – Dinar Guru   Community comment “Thought the EFSL was going to help…Iraq better get a move on, I don’t see a new exchange rate in the near future based on Iraq’s and the world’s news of what’s happening there,”   I am not sure what news globally, regionally and or even locally that makes you feel that there is to much going on for this not to happen anytime soon. I don’t see anything that would suggest that Sadr and Kahdimi don’t have the Citizens in mind and their needs met in a hurry.  They clearly do…my view is different in that what we are witnessing is that there is a battle between the CF and Sadrists.. That battle is coming to a head and fast.

Samson – Dinar Guru  Article:  “A European country is planning to reopen its embassy in Baghdad for the first time in 30 years”  Quote “Austria plans to reopen its closed embassy in Baghdad by next September.”

Paulette – Dinar Guru  The underlying fundamentals are sound...we should all be very happy and content that this will happen as we hope and expect.  It is also apparent that we very likely can see a change relatively soon…soon may be a week away, a month away or a few months away.  IMO, it just isn’t to be expected until the process plays out where the International Community sees Iraq as having obtained security and stability.  This could happen quickly but is not likely within the next few hours or days…

Pimpy – Dinar Guru   I never said the Iraqi dinar exchange rate wasn’t going to change.  It is going to change.  I’m the one that said it’s not going to happen overnight.   It’s not going be a reinstatement of the old rate.  I’m the one that said it’s going to be done in increments…

(Opinion only)

Kaperoni – Dinar Guru  The options for the Iraqi dinar are a LOP and a float. The later being the preferred but until the conditions are appropriate where they pass laws, remove corruption and diversify their economy it won’t happen.

(Opinion only)

Clare – Dinar Guru  Article:  “Al-Hanana: There is no meeting between Al-Sadr and Al-Amiri except under conditions, one of which is a “live broadcast“

Sandy Ingram – Dinar Guru  Article:  “Central Bank of Iraq reserves return to levels before ISIS war”  The CBI announced that its cash reserves rose to $82 billion which is the level prior to the ISIS war and advanced 10 ranks in the list of countries with the largest gold reserves in the world with 130 tons.  These factors play a huge part in a country’s foreign currency exchange rate…

Samson – Dinar Guru   Article: “Commencement of construction of the “tallest” residential tower in Iraq ”  Quote: “This project will be completed within four years, and its length is 210 meters, which is the longest in Iraq and includes 52 floors”

Tivon – Dinar Guru   I am 100% excited about August 15th.  Why?  Because for the first time in this investment all banks in Iraq will be ready for the new rate. Al-Kazemi could announce on that date or afterwards…Then the next day the CBI can reinstate the currency…Or it can all happen at once within hours. Regardless the sequence can happen in a consecutive fashion or a concurrent manner.  I am good either way…

Pimpy – Dinar Guru  There is some good news.  Article: “The Central Bank Announces An increase In Its Cash Reserves To 82 Billion Dollars”  I’m curious to see how high they can get this sucker pumped up.  If they keep going at this rate by the end of next year do you realize they’ll be over $115 billion? …you want to talk about doing all the right things…to strengthen the dinar, this is it….If we could just get the government going and stability in the economy man we would be well on our way to increasing the value of the Iraqi dinar…

Tivon – Dinar Guru  …The dissolution by default will activate Al-Kazemi…He will officially hold all power to activate reforms at anytime he sees fit. So it doesn’t matter if he does it before or after the 15th…all banks will be ready for the new digital platform by that date...he already told the citizens…that the citizens will have their demands met in days…They are waiting for Al-Kazemi…Let this guy bring it home for us.  We don’t need the UN, IMF, AMF, World Bank, CBI, or US Treasury to tell us that. You should be ready regardless. On the 15th and afterwards. Imo

Nader – Dinar Guru  The bank came out today with news.  Says the reserve amount of dollars is $82 billion.  This it says by the end of the years would be 95-99 but you’ll see it’s going to come out $100-110 billion.  Then they talk about gold.  They got 130 tons of gold making him the 30th in the world and the number 10 in the Arab world...

Militiaman – Dinar Guru   …This weekend may see some very interesting things happen. Let pray they are in line with peace, security and stability to allow the them to give the best rewards to the people…