Dinar Observer Daily

Pimpy – Dinar Guru   Article ” Iraq is the fastest growing Arab country..Why is this not reflected on the people?”  ...There’s so much great things happening in Iraq.  If the dang government would ever get formed, we can get some cooperation, get a budget passed, then things would be a whole lot better.  Iraq is the fastest growing Arab country.  Why is this not reflected on the people?  Great damn question.  [post 1 of 2]

Pimpy – Dinar Guru   Quote: “the International Monetary Fund expected Iraq economy to grow by 9.5 percent this year to be the highest in the Arab world…” …talk about a rebound.  They’re at a surplus now…all of the growth is based on sales of oil.  That’s really bad.  I told you Iraq cannot survive just on the sales of its oil.  Look what happened in 2020 when prices collapsed.  So if you want a stable economy you have to do way better than relying on just oil…  [post 2 of 2]

Kaperoni – Dinar Guru  The truth is Iraq with the assistance of many organizations is trying to build a private sector diverse economy...Can the Iraqi dinar go up in value? Sure can but it takes sound monetary principles, and economic success in order for it to do so…The Iraqi dinar is not some lottery ticket or some random act it is a country’s currency. Only with the success and growth of their economy can the dinar go up in value.

BobTheTaxMan – Dinar Guru  When it comes to fruition here’s the main things we need to be aware of in order to capitalize on this investment...First of all the IQD is an exotic currency without access to the foreign market.  Therefor it’s not treated as a capital asset. It’s treated as ordinary income and that’s really the key right there…we know our IQD investment will be considered ordinary income, not capital gains…  [NOTE:  At the appropriate time consult your tax professionals to determine the correct tax for your unique exchange strategy.]

Militiaman – Dinar Guru   Article:   “Zidane discusses with the Deputy Speaker of Parliament cooperation in enacting  “important” laws”  My view is they tell us clearly what is on the table. The ration card in it’s entirety is the food law, the electric it their life blood A/C and Fuel (energy) is the Natural Resource, Oil & Gas Law (NGO) or commonly the HCL…If that is the case, there is good reason to hide those sensitive issues…   [Post 1 of 2]

Militiaman – Dinar Guru  Throw in the energy card and we have some serious on goings. I like what we are seeing.  Quote: “after the law is passed, a breakthrough will occur in the entire political scene, including accelerating the process of forming the government, since the implementation of the details of the food security law will positively affect all areas that affect the citizen.”    [Post 2 of 2]

Samson – Dinar Guru  Article:  “Expert: Iraq Gets About 4 Thousand Dollars From Selling Oil Every Second”  Quote:  “And the rate of revenue per hour amounted to “13.792 million dollars.  per minute = 230 thousand dollars…”

Tivon – Dinar Guru  I am not even interested in the budget anymore. Especially after I found out they can issue the Oil & Gas Law under “Citizens Entitlements” which is in the FSL. Remember my people the advisor to PM said there are two legislative laws. The FSL/Budget. Both of them have the right to use the financial savings/reserves to serve the citizens.

Mountain Goat – Dinar Guru   I will be contacting the CBI soon to get an update on the project to delete the zeros… How will this next chess move begin? …I believe it will be announcements made to turn in the older, larger three zero notes and a deadline will be given. After that date the banks will no longer accept them. How long will they have I do not know.  The rate will be 1:1 and…this does not mean 1:1 meaning one dinar to one dollar… it simply means the current rate of the dinar under the program rate will be the same rate assigned to the newer lower denominations when they come out.    [post 1 of 2….stay tuned]

Mountain Goat – Dinar Guru …Technically there is not going to be any revaluation in Iraq.  Get it?  It is not until you take the older thee zero dinar notes after the dinar is reinstated on FOREX at the rate we are all looking for in exchange for our currency the US dollar, Euro, Canadian dollar, etc, etc, that a significant increase in value is realized… Now we wait for the next step. How will this next chess move begin?  [post 2 of 2]

BobTheTaxMan – Dinar Guru   Emerging markets are countries that have some characteristics of a developed market but yet not fully developed …Iraq and Mongolia are the two latest that are moving from a kind of 3rd world status...Iraq is the richest country in the Middle East in terms of having raw materials and educated people.

Pimpy – Dinar Guru   …I was listening to news from overseas, the lady was talking about how the IMF and the World Bank have grossly underestimated the GDP growth in Iraq and said that if they formed their government and moved forward in the right way that they would have a much stronger GDP growth.  That would be awesome because that’s what we want.

Militiaman – Dinar Guru  Article: “Finance is finalizing the 2022 budget, and good news for lecturers and contracts”  There is definitely a push to get the reforms done… The articles all show it to be the case and the world having been involved through the World Bank, IMF, AMF, UST, etc., is and or was the catalyst to push the politic side into high gear or the consequences may have been very dire.

Kaperoni – Dinar Guru  For the most part, the IMF is in charge of Iraq’s monetary policy (at least providing significant guidance). And the IMF does not want them to redenominate.  It is well documented they want them to allow the dinar to gradually appreciate as the economy grows.

Nader – Dinar Guru  community comment  “Iraq is printing too many dinars…”  Yeah they printed too many dinars.  They stopped printing…the 25,000, 10,000, 5,000, 1,000.  They stopped printing them.  Now they’re trying to print new money with only one or two zeros…smaller category of currency...They didn’t print it yet I’m not sure.  Maybe the project is there but I don’t know if they started or not…I know they said we’re gonna do this but nothing else, they didn’t say anything else about it.

Sandy Ingram – Dinar Guru  …Excellent news from Iraq.  Article: “Iraq currency reserves expected to exceed $90 billion by year- end, Finance Minister”  …this is excellent news.

Pimpy – Dinar Guru   Article:  “Al-Kazemi: Iraq has become one of the most important countries in the Middle East in terms of economic growth”  they could have a much stronger economy but they have to pass a budget.  Well they can’t pass a budget because the Supreme Court won’t allow them to.  You have to wait until the ‘caretaker’ government is out of office and a new government is established...  [Post 1 of 2]

Pimpy – Dinar Guru  they can’t get money out to the needy and they got to continue working with the last year’s budget.  This is Iraq, always shooting itself in the foot.  They have the opportunity to really grow and thrive…but they can’t get out of their own way.  I see the great potential there in Iraq.  It think it’s a great investment.  I haven’t changed my mind.  [Post 2 of 2]

Deepwoodz – Dinar Guru   Kadhimi has been silent but he usually is concerning parliament…I do agree there is a work around/smoke and mirrors in play. I suggest that the EFSLaw is the work around to the new exchange rate…the budget law and EFS law are synonymous. I believe this means the rate is in both. Whichever comes first should reveal it.

Godlover – Dinar Guru  This EFSL [Emergency Food & Security Law]  is not a good thing, IMHO. I know many are expecting the EFSL to have a new rate, however, I cannot see any logic in that thinking unless the 2022 budget is passed with it, which I highly doubt. As well, the EFSL is synonymous (similar) to the 2022 budget because it has a mini budget with it…I want & need this blessing just as much as anyone else, but…if it walks like a duck, quacks like a duck, then certainly it must be a duck.

Samson – Dinar Guru  Article:  “Al-Rasheed Bank of Iraq outside international sanctions after 30 years”  Quote:  “Al-Rasheed Bank announced, on Sunday, May 29, 2022, the removal of its name from the list of international sanctions of the Charter of the United Nations…deleting the name of the bank from the list of international sanctions of the United Nations Charter is an advanced step…the decision will allow the bank to open its branches outside the country, Especially in important countries that are centers of international banking and related financial transactions…”

Mountain Goat – Dinar Guru  Article:  “A WISE ADMINISTRATION RAISED THE PRICE OF THE DOLLAR.. A BOLD TALK BY THE MINISTER OF FINANCE ABOUT A SURPRISE FOR THE IRAQI ECONOMY, WHICH BODES WELL”  Quote:  “…confirmed the increase in cash reserves with the Central Bank to 90 billion dollars by the end of this year,…”  Iraq says they have the security and certainly they have the financial stability. They repeatedly said they needed this for the project to delete the zeros and so where is it? Do you get my point?

Pimpy – Dinar Guru  There are some things I notice about Iraq that just drives me insane.  They’re so on the verge of just being where we want them to be so we can make something off this investment – it’s just so close, but then every time it’s like, ‘Oh, you almost had it…‘ So close, so close, but not quite there yet…

Militiaman – Dinar Guru  Article:  “Saving a Homeland: The government will be formed within the next two months”  I am not seeing them use two months to resolve the issue of the Government impasse. There is another meeting with the UN post two scathing reports on the lack of movement politically. Not only have they the pressure from the UN, the IMF, the UST, the World Bank, even the CBI supports they are moving faster than months out...imo.

Nader – Dinar Guru  Comment:  “Iraq will never reinstate their money.  Their money will never go up.”  You might be right but I strongly disagree with you because if you look all around us like Kuwait, United Emirates, if you look all around us the least the dollar..the Saudis…you can buy for I think 58 cents for a dollar…I think there is a big chance of reinstating.  A big chance…

Mountain Goat – Dinar Guru  Next Steps: So let them iron out the details of the next government as I am hearing that it is just about completed. I suspect we may hear more details on it this weekend or early next week. Once the president is voted on it will not be long before the government is completed. I have been saying all along the Al-Kazemi will stay as the prime minister… Let’s just sit back and watch it all play out.

Godlover – Dinar Guru  Article: “Parliamentary agreement to complete the draft food security law”  The FSL is a “filler” with a mini budget per articles, for them to get by until the general budget is approved & opened. This of course needs a new government or for the current government to be granted full authority. The FSL is not a substitute for the general budget, assuming they ever pass the general budget, then it would be a substitute by default. Certainly the FSL will not have what we all seek.

Nader – Dinar Guru   The reinstatement will not go more than 1 to 1 to start then it floats.  That’s how it’s gonna happen…I don’t think it’s gonna be in the $6…no country will be in the $6 range against the dollar…

Deepwoodz – Dinar Guru  Let’s not forget that Kadhimi and his government had the budget ready long before now. Even before they supposedly became a caretaker. They could easily have put the budget forward at the end of last year if they had wanted to.   Whatever they were waiting on then, is probably the same thing they are waiting on now.  The articles are like riding a roller coaster but the truth is much less chaotic. We just aren’t privy to the schedule they have set. Nor are we privy to the date or the rate…Yet!

Samson – Dinar Guru  Article:  “The arrival of dollar reserves to 90 billion, ringing the bells of the exchange rate”  Quote:  “Calls are rising among the popular and political circles, to reduce the exchange rate of the dollar against the dinar, after the foreign currency reserves in Iraq witnessed a jump during 2022…the step of raising the value of the Iraqi dinar, if achieved, will make the dinar a competitive currency that helps lower the prices of commodities and foodstuffs in the markets. According to the experts…”