Dinar Observer Daily

Militia Man – Dinar Guru  Article:  “The Finance Committee ‘knows nothing’ about the budget tables”  Al-Sudani has been holding his cards so ever close to the chest. The looks of it now is that he will not expose the 2024 schedule data until after there is an exchange rate change that will reduce the deficit.  Will that be after the vote for the Speaker of the House of Representatives in the HoR and or before extraordinary session for Sunday by the Prime Minister of Iraq, Al-Sudani.. Time will tell. But, since the CoM nor the HoR have yet to receive the 2024 Budget schedules we can deduce, it is going to be a very tight window for events to occur.

Pimpy – Dinar Guru  We are seeing a renaissance take place over in Iraq. But the same issues that are keeping it from really taking off and giving Iraq the type of boom it really needs in its economy and its growth is being held down by the same corrupt politicians that have been holding Iraq back for the past 20 plus years...But overall the report from Jeanine Plasschaert was very very uplifting and praising.  It showed a lot of positive things taking place in Iraq so don’t let the bad things overshadow all the progress Iraq has made…We look forward to Sudani continuing this for at least another four years we hope.

Militia Man – Dinar Guru  Article:  “Securities Commission: We are studying the possibility of licensing brokerage companies to trade in shares on international stock exchanges”  Get ready because each and every one of us that have a brokerage account may in the future have the potential to buy stock in Iraq….You might find some fascinating companies.  There could be some index funds that you want to try to tap into…

Kaperoni – Dinar Guru  Article:   “IMF Executive Board Concludes 2024 Article IV Consultation with Iraq”  My preliminary review are the Article IV Consultation clearly emphasizes the urgency to diversify their economy in raising non-oil revenue…There’s also significant discussion encouraging Iraq to continue to develop their banking system and remove excess liquidity.   [Post 1 of 2]

Kaperoni – Dinar Guru   These comments from the IMF are obviously meant to encourage them that the opportunity is now to develop and accelerate economic growth…as well as to take significant steps forward with their banking system engaging with banks outside of Iraq.  From these documents, it is very clear that Iraq still has a lot of work to do. And I do not see in the near future any change in monetary policy until progress is made.  Again, creating the conditions for economic  growth appears to be the focus.     [Post 2 of 2]

Clare – Dinar Guru Article: “Iraq increases its possession of gold by more than three tons, bringing the total to 145,661”  Quote “Iraq’s gold reserves witnessed a noticeable increase during the month of February 2024, as International Monetary Fund data showed that Iraq has increased its possession of the precious metal by 3,079 tons, bringing the total to 145,661 tons.”

Pimpy – Dinar Guru  I said it a million times.  I’m saying the deletion of the zeros is a possibility.  I want the same thing you do.  I own Iraqi dinar.  I’d rather they keep the zeros on and change the exchange rate to $3.  I would love that.  Or even 1 to 1.  I want the same thing you do.  What I’m saying to you is you guys should understand that there’s another possibility that’s likely to happen.

Sandy Ingram – Dinar Guru  It is hard to believe Iraq did not have certain banking capabilities until now...We understand why my ex-husband a retired banker with the Federal Reserve Bank and his peers believed the dinar would not revalue.  It appears until Iraq updated its banking system the country could not participate in the global financial platforms…The bankers in the US never explained the reasons for their negative attitude towards the Iraqi dinar.

Militia Man – Dinar Guru  Article:  “Sudani directed the extraordinary session of the council for next Sunday, the federal budget schedules for the year of 2024”  We have the vote for the  speaker of the House of Representatives on Saturday and then we have a special session about the 2024 budget schedules with the Council of Ministers then they go to the HOR…

Mnt Goat  – Dinar Guru Article:  “THE DOLLAR IS REELING FROM A FATAL BLOW AND THERE ARE FEARS OF A COLLAPSE OF THE DINAR”  …let me say with 1000% certainty the dinar is NOT going to collapse…

Sandy Ingram – Dinar Guru  The World Bank is working with the Iraqi Finance Minister to implement banking reform as quickly as possible…things are happening fast.

Pimpy – Dinar Guru  There are a ton of reforms especially in the banking sector.  They’re getting there but they’re not 100% there yet as far as confidence in the currency.  Nobody has confidence in it besides those who are invested in it.  It’s not that they have confidence in Iraqi dinar, they’re hoping there’s a big difference…There’s years and years of history shows you Iraq constantly screws up and ends up back on square one.  You can’t blame people for being negative. IMO Iraq has taken all the steps necessary to get there but they’re not there yet.  Give it time…

Kaperoni – Dinar Guru   It…is preposterous to think that you’re going to walk into a bank and exchange Iraqi dinar for US cash. It is a fact that most Emerging Market countries are very volatile, banks by nature are very conservative.  Not happening…Market makers, ECNs or established financial institutions would make more sense to manage incremental gains.

Militia Man – Dinar Guru  If they were going to have a budget based off the exchange rate of 1310 why would you be keeping it close to your chest so long?  Why would you be waiting and waiting and waiting and waiting and waiting?  You wouldn’t. 

Paulette – Dinar Guru  If Iraq is acceding Friday, can you explain why they have not yet completed the required steps…? The way the WTO has notified the World to date, the only two countries that have completed all of the [steps] is COMOROS and Timor-Leste.  At least 11 other countries are further along than Iraq.  Granted, Saudi Arabia and the US have recently said they will help Iraq “fast-track”, however the requirements must be fulfilled.  Sudani appears to be Full Steam ahead.  We should all be excited as whether now, days from now, weeks from now or even Months, the next great step in this ride is coming!

Mountain Goat – Dinar Guru  …my most recent conversation with my CBI contact on Saturday…Most of the talk was all about the parallel market again and the final push to stabilize it…I was told this was the holdup for the start of the Project to Delete the Zeros and the formal education of the process, which was already supposed to begin in April. I was told that the committee has already released some educational materials on the future float and so we witnessed this information last week come out. 

Kaperoni – Dinar Guru  Over the last few weeks Iraq is perpetuating that they are now moving forward with diversifying their economy in opening their financial system to the world. We will have to wait and see if they have made the necessary steps  for those results.

Fnu Lnu – Dinar Guru  I have heard repeatedly, ad nauseam, about bank redemption centers being trained to recognize counterfeit Dinar…There is no such training being done…PERIOD! …De La Rue provides…computerized equipment that will authenticate and verify banknotes for 140 different countries. No human eye can be trained to see the hidden security  substrate and embedded features…One merely needs to be able to feed currency into a machine and it will do the rest…The banks  have been using this machinery for years and have been well trained to do so. There is NO training going on.

BGG ~ While the first half of this post may well be true (likely as not), I beg to differ on the last half. It’s COMPLETELY INACCURATE (and IGNORANT of the facts). There is NO SUCH THING AS AN AUTOMATED AUTHENTICATION PROTOCOL FOR THE IQD (per the De La Rue engineers – PERIOD). They don’t own that division anymore. It’s a group well known in the US as Cash Systems. Look it up.

Pimpy – Dinar Guru  You guys got to be careful.  When everybody’s like, ‘Oh, yeah we want the deletion of the zeros’.   Oh no you don’t.  No you don’t…You’re all cheering it on.  I was like no, don’t cheer it on.  That’s not a good thing for us as investors.  I know they’re out there swearing up and down that it’s off the exchange rate but it’s not.  The zeros come off the  currency. 

Clare – Dinar Guru  Article:  “After a break of more than 9 years.. the resumption of a government trade meeting between Iraq and America“

Samson – Dinar Guru  Article:  “After a break of more than 9 years…the resumption of a government trade meeting between Iraq and America“

Paulette – Dinar Guru   Community Comment: “Iraq on May 9 ascends to FULL membership in the WTO”   I hope you are correct regarding the WTO.  However, the documentable facts and articles regarding this issue would say otherwise.  Don’t misunderstand, the documentable facts and articles are EXTREMELY positive.  Iraq, under Sudani appears to be serious about becoming WTO members, opening the country to International trade, moving from a Rentier Economy to a Market Economy and finally implementing the Delete the Zeros Project.  Everyone should be excited even if it takes months more to accomplish.

Mountain Goat – Dinar Guru   Can you see just how close Iraq is to fulling Al-Sudani’s promise of making the dinar a proud national currency once again. Also remember too that he did say it “was” valued over a dollar already…

Militia Man – Dinar Guru  People are really excited because the data we provide supports that Iraq is having things ready to go and done.

Pimpy – Dinar Guru  What’s going to happen to the Iraqi dinar?  Once it reaches an acceptable rate by foreign currency holders such as us, then you’re going to flood the market with Iraqi dinars aren’t you?  Yes you will.  If it gets anywhere near $0.25 per dinar, $0.50, a dollar, anywhere near there, people are going to start cashing Iraqi dinar in right away and you’re going to flood the market because now there’s going to be more dinars out there in the market flooding them, causing the value of the Iraqi dinar to drop.  So IMO Iraq is not currently ready to have a floating IQD.

Dallasdude – Dinar Guru  ..as stated 1st round of task complete, second round of task is still a work in progress, fully expect the ninth to come and go with Iraq still on the outside looking in, good thing is they are determined to be a member and led by Sudani will get there eventually.

Samson – Dinar Guru  Article: “Al-Sudani: Iraq is moving today to the stage of revitalizing the economy and consolidating sovereignty”

Yada – Dinar Guru   …the news is outstanding regarding the progress of the Council of ministers having approved the budget schedules.   What is important…the rates were set with the US visit, council of ministers approved or amended the rates…all before Parliament sees it, WE are about to see the rates that the Parliament will see at the same time.  All by design to keep them from interfering…Im expecting this evening into the morning to seeing our expected end. The world waits the release and I believe it is upon us.

Kaperoni – Dinar Guru   It is critical to understand that if the Central Bank of Iraq plans to end the auctions by the end of the year there must be a new mechanism in place or there would be no method to maintain stability of the dinar.  So for the central bank to announce that they plan to end the auctions they are in essence announcing, that they plan to float the dinar. Floating the dinar provides the new tools for the central bank to maintain stability.  Therefore, this announcement to end the auctions confirms (despite what some may say), Iraq will float their currency

Militia Man – Dinar Guru  Article: “Iraqi Council of Ministers approves the 2024 budget schedules”  The next step would be to take those schedules and deliver them to the House of Representatives.  If we see that, that’s going to be powerful because everybody’s gonna be biting their nails because it could very well suggest something could happen prior to that happening.  It’s a nail biter…