Dinar Observer Daily

Clare – Dinar Guru   Article:  ”Al-Alaq: We are constantly reviewing the deletion of zeros from the dinar, and there are no restrictions on our balances in America“

Militia Man – Dinar Guru  Alaq is stating, ‘we are constantly reviewing the deletion of the zeros from the dinar and there are no restrictions on our balances in America.‘  So here again he’s talking about deletion of the zeros in September 2024 just like he did back in July of 2023.  Quote:  “The Central Bank of Iraq has reduced reliance on the US dollar in commercial transactions according to the governor of the Central Bank…adding that the project to remove the zeros in Iraq is under continuous review and study at the bank.”  It’s fascinating to see he’s back beating the drum about deletion of the zeros.

Dinar Investor – Jeff  Next week they have stated they will be announcing the agreed upon actions for the US troop withdrawal.

Mountain Goat – Dinar Guru   Here is the process of the reinstatement…:  Institute the reforms the “Pillars of Financial Reform” – Banking, Insurance, Stock Market;  Get rid of the parallel market and demand for the dollar through the black market;  Realize the Central Bank “official” rate of the dinar and overcome the dollar crisis.;   Be able to raise the “official” rate of the dinar against to dollar to a sustainable, realistic rate that reflects the true economy of Iraq (just over a dollar in-country); Conduct the Project to Delete the Zeros: decrease the monetary mass by collecting these large three zero notes,stashes/hoards of dinars and dollars. Swap out the currency;  Watch/monitor for inflationary pressures on the process;  Reinstate the IQD back to the global currency exchanges ie. FOREX.  Not just a placeholder on FOREX pointing to ISX but the ability of tradable buy and sell options.

Samson – Dinar Guru  Article: “No restrictions on our balances in America“.. Al-Alaq: The number of bank cards has increased to 19.75 million cards“

Militia Man – Dinar Guru  Purchasing power is deserved by this country.  They have assets that are phenomenal.  The non-oil revenues… gold reserves, foreign reserves and other sources of income through taxes and tariffs etc is going to be phenomenal. 

Dinar Investor – Jeff    Supplemental budget…that’s all we’re waiting on.  Right now the actual budget for operating expenses is done.  It will need to be amended though because it doesn’t have the supplementary portion of it to fund the 5-year development plan and reforms…

Nader – Dinar Guru   They’re going to remove the 3 zeros soon… In 1990 Kuwait did the same thing…If you go back in that time and you find the article, you can read it, it’s the same article come out, the big bills are going to be the same than the small bills…25,000 dinars they’re going to count like 25.  What they did was the opposite, the whole opposite, the 25,000 become 25,000.  They stayed 25,000.  When you go change your money [Iraqi dinars] this is what’s going to having…You’ll have three weeks to find a way to exchange your money to small category dinar.  Once you change your money to small categories you guys safe.  That’s how it’s going to work…

Samson – Dinar Guru  Article: ”Central Bank Governor: Activities of sanctioned Iraqi banks continue in all currencies except the dollar“

Militia Man – Dinar Guru  [Gazette Issue] 4782 [supposedly containing the new budget in June] is not there you guys…If they’re going to do Article 140 and you’re going to have a hydrocarbon law you’re going to need to have an official exchange rate…

Jeff – Dinar Guru   Today alone in their news, four different articles talking about deleting the zeros.  This investment has gotten real.  The rate can change at any time now.  It’s very close.

Mountain Goat – Dinar Guru  Ali Al-Alaq is still the acting Director of the CBI just as we were told by my CBI contact the GOI never did accept his resignation. The goals are still the same as they want to eliminate this Black Market corruption with the dollar and set the rate first at par with the official CBI rate. Then once this is in control, they intend to change the official rate and the rest is history as the saga of the currency swap out can then occur.

Clare – Dinar Guru  Article “Will Parliament resort to the courts to dismiss Al-Alaq?” Quote “the Governor of the Central Bank, Ali Al-Alaq, refused the request to host him in Parliament, while threatening to resort to the courts to file a complaint against the negligent.”

Militia Man – Dinar Guru  Iraq’s going to be going international in the near future.  They are already under the process 100% as far as I’m concerned…

Pimpy – Dinar Guru  Don’t be discouraged.  Everything is on track.  Iraq is doing what they need to do to get out of  trouble.  Leaving the 3 zeros on puts a smile on my face.  Only if the exchange rate would change, that would be a great combination…

Jeff – Dinar Guru This investment is coming together thoroughly.  You can see it coming together like clockwork.

Clare – Dinar Guru  Article:  “Al-Sudani heads to New York to participate in UN General Assembly meetings”   Quote:  “Prime Minister Mohammed Shia Al-Sudani will head to New York…Saturday, to participate in the meetings of the 79th session of the United Nations General Assembly.“

Samson – Dinar Guru  “Sudanese leaves for New York next weekend to participate in UN General Assembly meetings“

Militia Man – Dinar Guru  I looked today on the Ministry of Judiciary, their official gazette, and 4782 [The skipped issue that’s potentially holding the budget] is not there.  Again, there’s a reason for it it.  Does it mean it’s not done?  I don’t know.  But it’s not there…It doesn’t mean it’s not going to be.

Mountain Goat – Dinar Guru   Article Quote:  “Iraqi banks have the qualifications to switch to the electronic system, noting that “the transformation of the financial sector to the electronic system with credit cards will pave the way for attracting international investments and increasing confidence in the Iraqi economy.” I have to say it is all just about implementing the Electronic Payment and Inclusion of the banks into this new process…the CBI and the Finance Committee…are committed now to complete this effort, and I believe they are way beyond our expectations of just where they currently stand in this effort…In short summary, is this not what we all want to happen so they can pull the trigger on this revaluation and reinstatement.

Militia Man – Dinar Guru  What we’re seeing and witnessing is something we’ve never seen before and not at this level…Something’s a foot and I think it’s a powerful time frame for us to see something different with Iraq.

Samson – Dinar Guru  Article: ”Al-Sudani leaves for New York early next week to participate in the UN General Assembly meetings“

Sandy Ingram – Dinar Guru   If the IQD were revalued to $0.25 to 1 Iraq dinar, based on 1 million IQD you would profit $250,000.  Your tax liability just on the $250,000 would place you at a 35% tax rate… Your tax would be $83,188 [Single/No Dependents]…You would only receive $166,812…Let’s say the IQD readjusts to $0.80 to 1…That would be a profit of $800,000 minus the fees to exchange…You would be taxed at 37%…This would be $284,901 owed in taxes.  You would only receive $515,000.  This does not include your state taxes…This is not a game…No one said it was fair.  [I] do not want to hear about what a new president will do because if this happens within the next year a new president cannot help you.  Congress has to vote on new tax laws. [Dinar Guru Note:  Consult your tax professionals at the appropriate time to create a tax strategy specific to your unique circumstances.]

Pimpy – Dinar Guru   I want the same thing you do.  Trust me, I would love nothing better to wake up in the morning and find out that the zeros are still on the dinar but they’ve magically changed the exchange rate to $3.22.  That would be awesome.

Clare – Dinar Guru  Article: ”Al-Sudani leaves for New York early next week to participate in the UN General Assembly meetings“

Militia Man – Dinar Guru   Article Quote: “Alaq…points out the decline in the price of oil has nothing to do with the rise in the exchange rate because Iraq has reserves for foreign currencies which enables it to defend the exchange rate.”  That’s what central banks do my friends.  They defend the exchange rate.  That does not matter whether it’s at 1310, which they’ve done, or if it’s going to be at whatever the Real Effective Exchange Rate is going to be in the future.  They’ve worked this out.  This isn’t something brand new.  They know what they’re doing.  The drop the 3-zeros project is still…going to be applied.

Mountain Goat – Dinar Guru  …Most already tell us Iraq is filthy rich and they are…Right now the Kuwaiti dinar is one of the highest valued currencies in the world…If you proportionately look at Iraq and compare its ability to generate wealth it can far out produce Kuwait. Why then is the KWD at $3+ and the IQD at about $.006?

Pimpy – Dinar Guru   Question: “What does Iraq need to do right now to reinstate their old rate of $3.22?”  Professor Boskin [of economics] graciously shared the following information which I am pleased to relay to you…It should be able to give you an idea of how far away this thing might be…The first thing he’s talking about is implementing monetary reforms.  PIMPY:   We’ve been hearing about that for years so we know they definitely are implementing monetary reforms. PROFESSOR: …The Central Bank of Iraq may consider removing zeros… PIMPY:    Obviously if they’re going to remove the zeros off the currency, they’re going to re-denominate and print new bank notes.  PROFESSOR:  Establish a currency basket system…the value of the dinar would be determined against a weighted average of several currencies… [Post 1 of 2….stay tuned]

Pimpy – Dinar Guru  PROFESSOR Continued:  Reduce their dependency on the dollar.  PIMPY:  At the beginning of this year they were not supposed to use the US dollar anymore.  PROFESSOR:  …Focus on diversifying its economy beyond oil dependency… PIMPY: Right now…only 89% of [the budget] is dependent on oil sales.  A lot better than where it was.  PROFESSOR: Improve trade balance…Enhancing exports…Reducing unnecessary imports …thereby supporting a stronger dinar.  PIMPY:  They have things to trade but not a whole lot of options.  PROFESSOR:  Maintain internal stability…Monitor inflation rates… PIMPY:   Right now Iraq is somewhere around 5%…He’s saying if they want to reinstate the $3.22 rate these things have to be taken care of.  I do find it interesting we’ve been listening to them talk about deleting the zeros and he’s put that in here…A lot of this stuff Iraq has already started…Kudos to Al-Sudani.  [Post 2 of 2]

Militia Man – Dinar Guru The digital transformation is here and it’s only going to grow and grow and grow in totality…When they’re going from a cash economy to a digitized cashless economy, is going to have what?  Article VIII compliant currency on an international global Forex market.  That’s what we should expect at any time…