Dinar Observer Daily

Nader – Dinar Guru  Everybody’s asking me what’s going on.  What’s the news.  The news, you will see it on the 1st of January – what exactly is going on.  They already gave you a date.  I told you the 1st of January we’ll be out of the dollar.  We will not work with the dollar anymore in Iraq.

BGG ~ This isn’t a great characterization… it will supposedly be illegal to use USD for commercial and GOI transactions. It is yet to be seen how they enforce this overall though. A better definition might be; this is one more step in the right direction – as opposed to “this is the end-point of THE JOURNEY”…

Pimpy – Dinar Guru  Iraq is still taking the steps necessary to stabilize their economy, stabilize their currency, give value and strength to the Iraqi dinar.

Militia Man – Dinar   They’re talking about reducing Iraq’s dependence on oil.  Dependence on oil is going to go away because they have non oil related products…services…and sectors.  That’s going to be from the taxes and tariffs at the borders, imports, exports, natural resources.  They’re going to have other than just oil.  They’re going to have other circumstances…They’re talking about 350 million ton of sulfur…They’re trying to achieve sustainability for the private sector…

Pimpy – Dinar Guru  Question: “Is Iraq part of any currency basket?”  No…They have not been invited to be part of any currency basket.  Iraq is part of the currency basket that makes up the Arab accounting dinar but that’s local, regional…There are no other currency baskets, I mean zero, that Iraq is part of at all.  Nothing in trade.  Nothing in business.  Nothing internationally.  They don’t have a stable currency.

Samson – Dinar Guru  Article: “Al-Sudani congratulates the winners of the local elections and invites them to interact with his government’s plans“

Pimpy – Dinar Guru  Article: “IMF expresses optimism about non-oil financial growth in Iraq”  This is a major must for Iraq.  They need… non-oil financial growth…They can’t get to this fast enough.  They can’t get this to grow quick enough.  The fact they rely so much on oil is going to hurt them instead of benefit them…If oil prices fall, they’re back to square one and they’ll start devaluing the Iraqi dinar if they can’t find alternative to generate revenue for the state.

Dinar Investor – Jeff   The reforms are absolutely waiting on the rate change to implement.  They can’t implement the reforms without changing the rate.  They’re telling you the rate change itself is very clearly waiting and has been waiting this  entire year on these [provincial] elections…

Sandy Ingram – Dinar Guru   Article:  “Iraq links Baghdad US embassy attackers to security services”  The attacks against US forces have continued.  The Iraqi government said several people who are alleged to have attacked the US embassy in Iraq last week have links to the country security services…

Militia Man – Dinar Guru   Everybody knows Iraq is about to go International and they’re going to have a digital transformation…When they have this investment budget and they start spending…Iraq is going to be filthy rich with revenue streams from the electronic borders, agriculture, tourism… mining, sulfur, phosphates…they’re going to have revenue like no other.  There isn’t anything else like it, in my lifetime, that I can see is going to trump Iraq… Don’t forget…Iraq has a massive amount of hydrogen for clean energy…nobody else is talking about it...The amount of money and revenue streams Iraq is going to have is almost incomprehensible…It really is intense on how much money these guys are going to make on a regular basis.

Pimpy – Dinar Guru  I get it there are people out there telling you it’s going to happen overnight because they have an electric payment system.  No, no they’re not going to change your exchange rate just because of the electronic payment system.   The electronic payment system will help influence it once it’s up and fully implemented but it has nothing to do with being reinstated.  It’ll keep increasing in increments just like I said…

Dinar Investor – Jeff  Since October of last year [Iraq’s Federal elections] they have been setting the economic stage for the rate change… They’re done setting the economic stage. They don’t have any more economic steps to do.  That’s why they’re finishing the very last step of removing and cleaning up corruption at the second half of the government – The provincial level.

Clare – Dinar Guru  Article: “Election Commission: The preliminary results will be announced this evening, and we will conduct a manual count in front of everyone“

Wolverine – Dinar Guru   “I received a call on Sat. 16 Dec. from a very high source.  All I can say is that Christmas is coming and we are going to have a very good Christmas.

BGG – Complete B.S.

Militia Man – Dinar Guru  Article quote: “…Iraq today is at the highest level of foreign receivers in the financial history…”  They’ve made changes to the issue of dealing with foreign currency.  We all know what they have been doing…currency swaps.  They’ve been populating corresponding banks with currency.  They didn’t say if it’s triple zero notes or if it’s small category notes but they said they’ve been populating countries with foreign currency.  I think it’s pretty exciting.

Samson – Dinar Guru  Article:   “Advisor to the Prime Minister: Iraq today has the highest levels of foreign reserves in its financial history”

Sandy Ingram – Dinar Guru   Article: “Iraqi council elections: Almost 17 million voters head to polls on Monday”  Iraqis have begun voting for the first time in a decade to select new provincial council members who in turn will appoint governors...results are expected to be announced on Tuesday.  

Dinar Investor – Jeff   Today on Monday Iraq is holding their elections.  What does this mean to us?  According to Iraq’s Central Bank removing corruption is the absolute minimum requirement for Iraq to be eligible to revalue their currency...These are the provincial level elections.  It’s the second half of the government.  They already completed and held all their federal elections in October of last year…These elections are critical to the country to move it forward…

Clare – Dinar Guru  Article:  “Chairman of the Board of Commissioners: The electoral process is proceeding smoothly, and the voting machines will stop at six in the evening“

Militia Man – Dinar Guru  World Bank Article…the part here I like the most:  “...an expected influx of imports driven by the dinar revaluation and the significant increase in government expenditures…”  If you think about this for a minute if they give the citizens purchasing power are they not going to drive up an influx of imports because everybody has a little bit more money to maybe buy a new car, carpets, paint their house, build an addition to their home.  They’re going to have that extra money for those kids…The World Bank has an expectation of influx of imports due to what?  ‘…Driven by the dinar revaluation…‘

Pimpy – Dinar Guru  Question:  “Are there steps Iraq can take to have the $3.22 rate reinstated?”  Yes.  I’m not saying that they can do it…I’m not saying it’s not going to increase in value, I’m saying it’s just not going to happen overnight.  We’re going to see it continue to increase in increments.  Just give it time.  You’re going to start seeing it jump up and just hold on to your dinar.

Kaperoni – Dinar Guru   If Iraq is ever going to raise the value of the dinar there are several things that need to occur first of which requires Iraq to diversify their economy away from oil. To create a private sector, employ their citizens and begin to manufacture, create agriculture etc.  This is an absolute requirement to be self-sufficient. Currently, Iraq Imports about 90% of the goods they need.

Sandy Ingram – Dinar Guru  The Central Bank of Iraq confirmed some Iraqi banks are transferring dollars from their accounts to intermediary banks who are distributing the dollars to their customers.  The Central Bank of Iraq said this will contribute to reducing the exchange rate of the parallel dollar…[We’re] thinking this is to keep the black market intact. This means the decision to only use Iraqi dinar in all transactions beginning January 1, 2024 may cause concerns and the Central Bank of Iraq is making moves to control any possible issues.

Pimpy – Dinar Guru   Still today I can’t find any news so called restrictions removed.  No restrictions have been removed yet.

Militia Man – Dinar Guru   Article:  “It’s time for the Iraqi economy to be linked to the global economic cycle.  Al-Sudani stresses the government’s endeavors to achieve an industry that exports its product outside Iraq.”  That’s exactly what we need.  Everybody knows Iraq has been an import country and they’ve been using oil as a revenue stream.  Now they’re going to go from a rentier oil industry to a non-oil revenue stream country…You have the industrial cities, liquid natural gas, tourism, agriculture…Iraq is filthy with minerals.

Pimpy – Dinar Guru   Article:  “Central Bank reveals two agreements during joint Iraqi delegation talks in Turkey”  This agreement with Turkey allows…merchants to purchase goods from each other’s country using their own currency.  If I’m a merchant in Iraq and I want to buy goods from over there in Turkey to sell in my store I can purchase those goods using Iraqi dinars and vice versa.  If I’m a merchant in Turkey and I want to buy some goods that I can sell in my store over here in Turkey I can use the Euro or the Lera and then the banks will settle the issue with the two currencies.  That’s why they [the banks] do currency swaps.  These are pretty big hurdles Iraq has managed to get over.  Let’s hope they continue down this path and nothing bad happens…

Mountain Goat – Dinar Guru   …The rate is NOT going to start at 1/6 of a penny and climb from there when it does get reinstated. The rate has to reflect the TRUE rate of the value of the assets Iraq now holds. Not the value of an intentional, sanctioned, suppressed currency. Why would they even bother to do all this work for the banking, financial and currency reforms if they were just going to leave the rate at 1/6 of a penny?

Pimpy – Dinar Guru   Sovereignty means freedom.  That means you’re in control.  Nobody else tells you what you can and can’t do with your country, with your currency or anything else.  That’s the whole purpose of sovereignty.  Iraq wants control of their currency.  This is what we want for them to do…We have to make sure the people that are in control don’t screw things up…Let’s hope Iraq is ready to do this because if not it really could be a major setback…

Clare – Dinar Guru  Article: “Al-Sudani:  We have natural resources that enable us to export products outside Iraq ”  Quote “Prime Minister Muhammad Shiaa Al-Sudani said on Saturday that Iraq has the natural resources that qualify it to meet the market’s need for local products and export the surplus outside the country.”

Nader – Dinar Guru   The revolution of the dinar exists, yes.  Is going to revalue?  Yes.  When?  I don’t know.  It can be now.  It can be next month.  It can be 2 years from now.  It can be 5 years form now.  You know people are going to hate this but the reality is there…You have to be a realist…You know it’s going to revalue.

Breitling – Dinar Guru   Question:  “Why haven’t all the big sharks bought in anticipation of the RI?”  Who says they haven’t?  I told you guys with some of the companies that I’ve worked with we did research and we had contact with a lot of senators and congressmen from both sides of the aisle, they all have it.  They all have Iraqi dinar.  They have other currencies too.