Dinar Observer Daily

Mountain Goat – Dinar Guru  Prime Minister Mohammed Shia al-Sudani confirmed from New York that the currency sale window will close at the end of this year, while revealing the government’s intention to establish a new bank that adopts the latest technologies. WOW! WOW! We have been waiting for this for decades. Now it Is reality. Finally!!

Militia Man – Dinar Guru  If you’re going to create value, you’re going to have to have smaller denomination and you likely will have to have  coins.  There’s no need for coins if you do a lop.  There’s none.  They will not ever do that and the reason why is because how in  the world could you get by with a one note and the value of it at .0007.  Come on.

Samson – Dinar Guru  Article: “The Central Bank of Iraq warns exchange companies against receiving a commission of  more than 25,000 from selling the dollar to travelers”

Pimpy – Dinar Guru  As you’re aware Iraq has some issues with protesters charging the US Embassy.  I’m glad it has not escalated. Iraq has been doing a great job about staying out of all these little conflicts.  We don’t want them to get involved in these conflicts.  They need to stay on a straight and narrow.  They’ve been doing a great job of this.  Let’s hope that continues.  This would be good for both the dinar as well as the stocks.

Mountain Goat – Dinar Guru  Prime Minister Mohammed Shia al-Sudani expressed, on Thursday, Iraq’s readiness to enter into a partnership with American companies in the oil industry sector, revealing at the same time his government’s intention to establish a new Iraqi bank. This came during his participation in New York…can the news get any better? Finally the US is engaging Iraq and seriously taking on partnerships, especially in the energy sector. So we know if the US is invested in Iraq something is up….

Militia Man – Dinar Guru   ...Remove the zeros…it’s not to diminish the value of the currency or to keep the currency the same as you might hear from others.

Kaperoni – Dinar Guru  Article: “Developing the banking sector according to international standards… The Central Bank signs an agreement with the International Finance Corporation“

Sandy Ingram – Dinar Guru  Article: “Iraqi resistance ‘ready for open war’ against Israel after Lebanon attacks”  As Iraqi dinar investors … the headline we’ve wanted to avoid.

Militia Man – Dinar Guru  They’re talking about international.  I can’t stress that enough…They’re going to need an Article VIII complaint, Article XIV compliant currency with the IMF.  They’re going to have to agree to those obligation and that would mean a change of exchange rate to a Real Effective Exchange Rate.  

Samson – Dinar Guru  Article:  “Al-Sudani orders immediate investigation into missile attacks on Baghdad airport”   Article 2:   “Interior: Arrest of the commander of the force holding a site in Al-Amiriyah from which missiles were launched at Baghdad Airport“

Mountain Goat – Dinar Guru   I am telling you that I know with 1000% certainty we will NOT see the RV until after the Nov 5th voting…In a conversation with my CBI contact on Saturday I was told that if all goes well in the US elections, we can expect to see the preparation gearing to the reinstatement by the start of the project to delete the zeros and the swap out of the larger notes for the smaller denominations. I was told this is now planned to begin shortly after the voting is over and the winners are announced.  I was told we might have to wait for the inauguration ceremony to conclude to see the reinstatement occur.

Dinar Investor – Jeff   Article:  “Iraq presents to the US Treasury date for abandoning the currency auctions”  The auctions will end or be abandoned the day the rate changes.  The rate will change on a Sunday morning.  That’s when the currency auctions will end, when the rate changes.  This article’s saying the currency auctions will end by year end.  They’re talking to US officials…They’re just making a generalized statement, saying by year end…So by the end of December…the currency auctions will end meaning the rate would have to change allowing the auctions to end…

Pimpy – Dinar Guru   Unfortunately it is everywhere.  Protests are happening in Jordan, Turkey, Iraq…For those of us invested in the Iraqi dinar we’re definitely paying attention to what’s going on over there in Iraq because it could have an effect on the Iraqi dinar if we can’t get things calmed down.  We’ll keep an eye on it and see what happens…

Militia Man – Dinar Guru   Alaq says we’re going to enhance the confidence in the dinar…Remember what Sudani said.  He warned the citizens twice at least, to be careful with your dinar.  Don’t get rid of it.  It’s going to be stronger.  Openly, the two big guys, Iraq prime minister and Iraq Central Bank governor has told the citizens…we’re going to bring value.

Sandy Ingram – Dinar Guru  Tensions are soaring in Iraq following the reported death of Hezbollah leader Hassan Nasrallah...Thousands of angry Iraqi demonstrators converged on the US embassy in Baghdad, where they attempted to storm the compound, clashing with security forces armed in riot gear…Their fury has added to the growing unrest in Baghdad, where the situation has become increasingly volatile.  In response to the escalating crisis, security measures have been significantly ramped up in the city’s fortified Green Zone, but protests continue to intensify as anger spreads.  The situation remains fluid with heightened fears of further violence.  

Mountain Goat – Dinar Guru  “CENTRAL BANK GOVERNOR ANNOUNCES SUCCESS OF DIGITAL TRANSFORMATION PLAN IN IRAQ” …the CBI has told us just recently that Electronic Banking is an important step in the currency reform and banking process…WOW! WOW! WOW!  I do not think he is saying final success only that there is good success so far…we were told the goal is about 80% of the working citizens. Quote:  “it clearly indicates the success of the digital transformation and electronic payment plan, and the percentage rose from 20 percent a few years ago to 48.5 percent”

Clare – Dinar Guru  Article: “Al-Sudani postpones his visit to the United Kingdom due to regional and international developments“

Militia Man – Dinar Guru Article quote “Central Bank seeks to withdraw excess liquidity”  When the central bank of  Iraq is removing excess liquidity, that’s taking in dinar, what does that do?  Enhances the value of the currency – Supply and  Demand.  Reduce the note count, the value goes up...That’s the way it’s always worked and it always will IMO.

Pimpy – Dinar Guru  Article: “Iraqi authorities close Green Zone gate amid Shiite protests over Nasrallah’s  assassination”  Things are so bad Iraq has now had to close the green zone.  We haven’t heard about them closing the green zone in at least two-three years.  They’ve been open that long.

Clare – Dinar Guru  Article:  “What would happen to the Iraqi dinar if the zeros were removed? Comment by Dr. Mahmoud Dagher”  Quote: “Economist Mahmoud Dagher pointed out that deleting zeros will not change…the purchasing power of the dinar…Instead of carrying a bundle of 50,000 dinar notes, it will be possible to compress them into a smaller number of notes after removing the zeros, and this will not change their purchasing power. The amount of money on offer…is equal to 105 trillion dinars, and after removing the zeros, the amount will be 105 billion dinars, which is exactly the same amount, and the exchange rate will change from 1320 dinars per dollar to 132 dinars per dollar.“

Militia Man – Dinar Guru  In the last week or so…there’s probably five or six articles specifically talking about removing zeros from the Iraqi dinar… Quote:  “…this is done by removing a specific number of zeros from the nominal value of the currency.”  From the value of the currency not the currency notes but the value of the currency…

Pimpy – Dinar Guru  Article: “Thousands of protesters trying to storm US embassy is Baghdad after Nasrallah killing”  Iraqi protesters are trying to storm the US Embassy in Baghdad…How does that affect Iraqi dinar holders?  The last thing you need is for there to be an unstable country with protesters tying to storm the US Embassy…

Kaperoni – Dinar Guru   Community Comment:  “The US Embassy in Iraq is under siege I’m old enough to remember the last time a middle eastern embassy was under siege with a weak president…I hope this ends better…Pray for US personnel in Iraq”   Not good.

Militia Man – Dinar Guru  Article: “Minister of Transport announces the establishment of the Joint Maritime Authority between Iraq and Britain” …Massive amounts of trade is coming to the ports of Iraq… I suspect Al-Sudani and his teams are fully aware of the priorities needed to make it all happen.

Clare -Dinar Guru  Article Quote: “Mazhar Mohammed Saleh, economic affairs advisor to Prime Minister Mohammed Shia al-Sudani, described the banking system in Iraq as rentier par excellence…noting that this requires a comprehensive reform process…Saleh stressed that this requires a comprehensive reform process to create market institutions, indicating that this enables the banking market to be integrated with the international financial and banking system and become attractive to global banks on a large scale.“

Kaperoni – Dinar Guru  This is a good quote from that article “The expected path of the Iraqi economy”  Quote: “The most important indicator, in my opinion, is that despite all the attempts to put obstacles in the way of economic development, intentionally or unintentionally, the government is moving forward with its program, leaving all attempts at obstruction in its wake, and this is one of the secrets of success and the key to hope.”

Sandy Ingram – Dinar Guru  One significant difference between Iraq and many other developing and established countries is Iraq’s consistent willingness to pay down debt.  Iraq’s foreign debt has now fallen to below $10 billion dollars according to Saleh, financial advisor to the Iraqi Prime Minister…Provisions have been set aside…to ensure these obligations
are met…These external debts are largely tied to the Paris Club Agreement …Iraq is on track to fully pay these obligation by 2028.  Saleh highlighted the importance of Iraq’s relatively low level of foreign debt, noting it has significantly improved the country’s financial standing in the eyes of global credit rating agencies, including the US based S & P.  

Dinar Investor – Jeff   World Trade [Organization]…one of the major things Iraq needs to really move forward towards membership is they need their MFTR [Memorandum of Foreign Trade Regime] completed… Article Quote: “The completion of all these requirements was confirmed in March of 2024.”  Iraq’s next meeting is roughly November 6th through the 8th.  They will…have all steps complete.  That’s when they would be eligible.  Their 30 days towards membership would start right around early November…Full member probably by the end of December of this year.

Militia Man – Dinar Guru  They will need to have an international IMF Article XIV and Article VIII compliant currency.  One that the Central Banks can defend and likely in a very fast and efficient manner with the most advance systems in the world. The focus in the future is going to be instantaneous cross border payments 365/24/7 and no blackouts with little cost. It is now the time to be paying attention…

Samson – Dinar Guru  Article: “Wardastan deposits about 100 billion dinars of non-oil revenues in the Iraqi state treasury“