Dinar Observer Daily

Mountain Goat – Dinar Guru  Question:  We all have like 25000 dinar notes after the 2 extra zeros are gone and we can go to FOREX will we have any problems cashing them in at the new FOREX rate after the month is over?  Mnt Goat:  So, there is no time period set for exchanging our dinars outside of Iraq. However, having said this, we must refer back to Dr Shabibi’s media news interview years ago when he said in about 10 years after the reinstatement the CBI would null and void these 3 zero (not 2 zero) notes that we hold…

Pimpy – Dinar Guru  Is it possible Jamie Dimon sent out a memo explaining to people that this is going to be  happening soon?  Yeah, that’s possible but I would love to see that email.  I think it sounds like B.S. to me.

Dinar Investor – Jeff   Everything’s happening exactly when it’s happening for a very specific reason…Iraq is bringing some very critical steps forward specifically within the month of March… Article “The Central Bank of Iraq decides to restore the mechanism for financing Iraq’s foreign trade, starting next March”  March was not chosen coincidentally…Kuwait and Iraq have the same budget period which is April 1st…

Pimpy – Dinar Guru  Question: “If you take your 25000 dinar note and get 500 dinar note…would it protect against the lopping off the three zeros…?”  No…If they’re going to LOP the zeros off the currency that means they’re going to have new bills.  So even if you did get 500…they’re still going to be new looking 500 dinars.

Mountain Goat – Dinar Guru   “...it was decided to transfer all financial transactions electronically through the (POS) point of sale system in traffic departments in Baghdad and all governorates instead of cash dealing.” …it is a borderline “WOW!” article for us today as Dinar investors. …electronic banking and POS has been on the radar and will continue to be pivotal in the monetary reform process…. It is a very good step, a sign in the right direction and may help take the demand off the dollars thus reducing the rate in the black market for the dollar.

Pimpy – Dinar Guru  If you are a newbie to this…you’re going to go bank-to-bank and talk to the tellers.  Of course they have no idea what you’re talking about because they don’t deal with foreign currencies.  They don’t know anything about the Iraqi dinar.  They don’t know anything about any other currencies unless they deal with specifically exchanging your foreign currency.  That shouldn’t be surprising to anybody.

Militia Man – Dinar Guru  Article: “Minister of Commerce: International welcome and desire to increase investments in Iraq”  Article quote: “the meeting came out with many decision that were approved including … welcoming Iraq’s accession to the World Trade Organization.“  That’s awesome…Are we waiting for a major announcement?  Remember Salih said there was going to be a major announcement and we haven’t heard it yet.  This right here is that this major announcement?  I don’t think so.  It’s almost like leakage…

Pimpy – Dinar Guru   Everybody is getting hyped up about Jamie Dimon and JP Morgan being over there in Iraq…It’s not that big of a deal.  It isn’t…

Sandy Ingram – Dinar Guru   Iraq is getting closer to a currency reset…Iraq’s rail plans have investors worldwide watching carefully…The rail connection in Iraq from the Gulf to Europe will change Iraq’s economy.  This same method of increasing the GDP was recently used by Mexico when they built a connecting rail system…Mexico’s exchange rate increased against the US dollar and now Americans are spending more money to live in Mexico…This is one of the major paths that can lead to a higher GDP and a higher value in the currency.  The project is set to start in early 2025.

Pimpy – Dinar Guru   When you take the three zeros off the 25000 dinar you only have a 25 dinar.  It give the impression of a stronger currency because it doesn’t look like an over inflated currency.  It didn’t say it’s going to be stronger.  It says…Deletion of the zeros is to give the impression of a much stronger currency.  It gives people confidence…If they do that before they change the exchange rate we are ass out.  We need to figure out how to swap our currency for the new currency…What did I say we wanted to avoid?  A redenomination until we see it go up in increments..Now all of a sudden they’re talking about forcing Iraqi people to bring inter dinar by redenomination.  Man, this is looking bad.

Militia Man – Dinar Guru  An expert…talking about the best way for electronic payments to be successful for the central bank… Article quote: “to carry out the process of deleting the three zeros from the currency.  Printing new currencies and announcing a period of 1 month for citizens to exchange all their money with the new edition which will give an impression of the strength of the dinar against the dollar and the rest of the currencies.”

Mountain Goat – Dinar Guru   We are still waiting for the CBI’s measures to take hold to control the parallel market rate and then so they can go ahead and raise the program rate one more time, as I am told by my CBI contact is still going to happen…we must just sit tight and let them work through these issues of the parallel rate. The CBI will get it under control. As you know Iraq doesn’t work like Speedy Gonzalas…

Tishwash – Dinar Guru   Article:  “An international desire to invest in Iraq and three countries hold meetings in this regard” Article Quote:  “The meeting came out with many decisions that were approved, including enhancing intra-trade, liberalizing trade in goods, and welcoming Iraq’s accession to the World Trade Organization.”

Pimpy – Dinar Guru   Question “Just be blunt…Make it simple.  If someone holds a million dinars what is the most  one can get from this amount over the next several years?”  I’ve been blunt about this…It depends on how long you hold it.  Let’s  say it starts to go up in increments like I think it’s going to happen, you have to look at your 1 million dinar and think to  yourself, ‘Am I going to be happy with the current exchange rate.’  It really depends on when it gets to a rate that you like.  As  long as they can stay out of conflict, continue moving forward like they have with reform, getting back in the World Trade  Organization, showing back up on Forex, these things are very important on give value to the Iraqi dinar. 

Kaperoni – Dinar Guru  If Iraq and the dinar is ever going to rise in value it will be based on Iraq’s own economic  success and growth of their economy, GDP. Only then can Iraq float the dinar to allow the world to determine its value based on  supply and demand.

Clare – Dinar Guru  Article: “Economist: The window for selling the currency ends in 2024, and the central bank will devote itself to supervision”  Quote: “The Central Bank of Iraq decided to end the currency window process and adopt correspondent banks as an alternative. There will be a new mechanism to provide currency for transfers without returning to the currency window or the electronic platform.“

Pimpy – Dinar Guru  Don’t forget Iraq is on self-imposed sanctions.  Until they are cleared and there’s no more restrictions over here [In the US] it’s not gong to be that easy for you to find a place to exchange your currency.  I’m not saying it’s impossible…I reported Chase bank…was one of the banks you can go to…It’s not going to be some fancy rate.  It’s going to be at whatever the current rate is at the time…

Militia Man – Dinar Guru  When have we seen banks openly talking and expressing, ‘We know this is happening.  We’re talking about it.’  Oh, yeah, things are going in our direction!

Mountain Goat – Dinar Guru   I can tell you there is only going to be one more final adjustment to the IQD rate inside the country of Iraq from the 1320 close to 1000 or less (1 dinar = 1 USD) (must be just over $1). At this time, the CBI will kick off the Project to Delete the Zeros. Did this happen yet? NO!  It has not but we can see that the official rate is fluctuating from the 1320 as high as 1310 and 1300 some days. This is all good news… this rate will be temporary rate just until the new reinstated rate shows up on FOREX.  [Post 1 of 2]

Mountain Goat – Dinar Guru  We are now looking for this rate change as the CBIs’ next move. Yes, this will be their next move. NO! There is not going to be any Reinstatement until this part of the plan is completed …The good news is that this final rate change must be getting close at hand as my CBI contact informed us last week…that someone on the committee team was tasked to supply the IT people with a good set of pictures of the lower denominations along with the coins and a written explanation of how the conversion would work from the three zero notes…keep that champagne ready!  [Post 2 of 2]

Pimpy – Dinar Guru  Question “What is needed for this investment to be profitable?”  What we need for this investment  to be profitable – We need them to get back on Forex.  We need them to be part of the World Trade Organization.  We need them to  change the exchange rate without lopping off the zeros first.

Militia Man – Dinar Guru  Releasing them from Chapter VII…it’s phenomenal to see...In 2012 we thought this was over because the UN released them from specific things but they never released them from everything.   They needed to do  something…Now…the push is the World Bank, the seven [largest entities in the world] are pushing them, the UN’s giving them  Kudos…basically stated it’s time Sudani to ask the UN to do this.

Sandy Ingram – Dinar Guru   The International Monetary Fund has consistently recommended Iraq develop additional streams of income outside of the oil industry.  Iraq holds a significant amount of the world’s history within its borders…What is  needed is security and safety for travelers.  Once safety issues are address and the Euphrates and Tigris Rivers are flowing again there will be substantial annual revenue to help boost Iraq’s GDP.

Nader – Dinar Guru  Some people comes out and go, ‘Hey, the dinar is going to be $7.00 or $8.00..’ bullshit like that.  I don’t know where they get the information from.  If it goes 1 to 1 I’ll be happy…The second thing, when they come out and they go, ‘The back screens.’  What back screens?  Why you not showing the back screens?  Who’s telling you about back screens?  Other people go, ‘Iraq the exchange rate is internal and external.’  What the hell you saying.  It’s crazy.  You know they’re not going to come out and say, ‘We’re going to change the exchange rate but only in Iraq.’ …Then banks…the numbers doesn’t work like that.  It doesn’t work at $7 or $8 or $11…Be reasonable.

Fnu Lnu – Dinar Guru  Some opine that there is no such thing as a Redemption Center while others claim to be in contact with such Centers and their personnel.  What they (redemption centers) are, is a simple solution to a simple problem. Many of the large banks in heavily populated urban centers were concerned about having the Dinar traffic clog their lobbies at exchange time. The solution is to have a separate, off-premises, specialized, Exchange Center, complete with Delaru computer, in the most populated city in each of the 10 federal regions…I haven’t been informed of any changes.

BGG ~ This is COMPLETE NONSENSE.

Pimpy – Dinar Guru  I want to make myself perfectly clear – Deletion of the zeros, Lopping or redenomination are all the same thing.  All they’re doing is changing the face of the bank notes.  That’s it.  An increase or decrease of the Iraqi dinar against other foreign currencies is a change in the exchange rate.  That’s different.

BGG ~ While I don’t agree with most of this – the second to last line is on point… value is value. Forget how it gets there.

Militia Man – Dinar Guru  The 2024 Word Global Summit… Article  “Al-Sudani cancels his visit to the Emirates and apologizes for it”  Why did he cancel?  Why did he not go to a World Global Summit? …all the other countries…180 are all there.  Sudani didn’t show up.  There’s got to be a very important reason why he didn’t… Article quote:  “The Minister of Finance participates in the session of the World Government Summit in Dubai..”   And Sudani didn’t go…He stayed home, he talked about his borders…armed forces…his people…Why?  He had to apologize for not making it.  There has to be a very good reason I would think.  We’re going to find out what that reason is..

Pimpy – Dinar Guru  Question about Pimpy’s possible LOP theory: “If what I understand you’re saying it’s a lop.  25,000 will be 25 right or wrong?”  A LOP is when you remove the zeros.  Just like you pointed out… 25,000 dinar would be a 25 dinar.  Yes, that would be correct. 

Militia Man – Dinar Guru  The [U.S] embassy in Baghdad is amazing.  The reason why is…it’s a building that’s 104 acres… 43,660 square feet…It’s huge.  They’re building a bigger one in Iraq…4.5 million square feet, of a building. You got to go, that’s a big building…Why would they be building a bigger one if we’re leaving anytime soon? 

Samson – Dinar Guru  Article: ”South Korea confirms: The volume of trade exchange with Iraq is increasing as a result of security stability“