Dinar Observer Daily

Mountain Goat – Dinar Guru    …Iraq told us all about how they fully intend to get back the “glory days of dinar” and so…Yes, simply put, they are doing it… at this point the pieces are all aligning so nicely…it’s all about implementing the Financial Reforms and then comes the Project to Delete the Zeros followed by the Reinstatement.  You can’t do one without the other… it certainly “is not all done”… the path to the reinstatement is crystal clear… you can see the writing is on the wall. I don’t say this lightly either. We are just about there…  

Clare – Dinar Guru  Article:   “Central Bank of Iraq makes progress in reforming banking sector”  Quote:  “US Ambassador to Iraq Alina Romansky confirmed [via tweet]…the Central Bank of Iraq has made progress in reforming the banking sector...We commend the progress made by Iraq and the Central Bank of Iraq in reforming the Iraqi banking sector in partnership with the US Treasury and the Federal Reserve during recent meetings in New York, where the two parties discussed ways to cooperate to enhance transparency and integrity in the Iraqi banking sector.”

Clare – Dinar Guru  Article: “Ministry of Finance: Iraq maintains its credit rating and foreign exchange reserves level” Quote: “…the latest report issued by Standard & Poor’s Credit Rating Agency (S&P), Iraq maintains its credit rating at B- / B with a stable outlook, indicating financial and economic stability in Iraq”

Militia Man – Dinar Guru  The reason why I’m in this investment is because I listened to the IMF.  I read the IMF documents.  One of the longest reports I’ve ever read.  I read every page…198 pages.  That’s where the IMF talked about $3.22. that was what the exchange rate was back in those days.  Reinstatement…Revaluations are legal things.

Samson – Dinar Guru  Article:  “For the first time, Iraq was chosen to chair the Group of 77 and China at the United Nations“

Sandy Ingram – Dinar Guru  Iraq’s employment rate, inflation rate and GDP affect the value of [Iraq’s] currency.  The Development Road Project will positively affect Iraq’s economic status and provide a dependable income stream outside the oil industry.  As a global corridor to transport goods and energy the project will generate many jobs and investment opportunities for Iraq and the countries of the region as it will attract global trade.

Clare – Dinar Guru  Article:  “US Treasury praises Iraq’s progress in monitoring transfers and selling dollars”  Quote:  “The US Treasury Department praised the remarkable progress made by the Central Bank of Iraq in strengthening control procedures over foreign transfers and cash sales of the dollar, while considering that these steps contribute to strengthening financial and economic stability in the country“

Kaperoni – Dinar Guru   Article:  “Central Bank meets with electronic payment companies and contracts with an international auditing firm in New York”   Community Comment:   “They have been saying that for 15 years.”  Clearly you do not stay up to date… Iraq is making progress ever so slowly. Digital payments and electronic banking is the future in Iraq and will take effect early next year. The new Central Bank building will become a beacon in Iraq as they diversify their economy.

Militia Man – Dinar Guru  Back in the old days…when Saddam Hussein was around, when their valuations were out [$3.22], they were valuing based off of what?  Oil.  They didn’t have non-oil revenues.  Times have changed.  They need to renew all of that…They’ve had plenty of time to do research and analysis to…provide an appraisal for the people that need to know the numbers.

Clare – Dinar Guru    Article:  “Prime Minister’s Advisor Announces Increase in Non-Oil Revenues Compared to Previous Years”  Quote: “Saleh…oil revenues (semi-annual) for the year 2023 amounted to 53.88 trillion dinars, while non-oil revenues amounted to nearly 0.42 trillion dinars (during the six months of the same year 2023),” indicating that “oil revenues in the first half of the year 2024 amounted to 58.80 trillion dinars, while non-oil revenues (at the end of the first half of the year 2024) rose to reach 7.18 trillion dinars“

Mountain Goat – Dinar Guru …I was told [by CBI contact] once again the process will begin with “EDUCATION” followed by “ACTION”… Yes, we have seen some of it already but there is more to come… Also...the necessity of the parallel market to get very close, if not matching, to the official CBI rate.  We are watching for this and it has not yet reached its goals.

Samson – Dinar Guru  “Prime Minister’s Advisor Announces Increase in Non-Oil Revenues Compared to Previous Years“

Militia Man – Dinar Guru  Non-oil revenues is going to increase…It will enhance the value if they’re not just basing their value on oil, which is massive. 

Samson – Dinar Guru  Article ”Eight months of waiting: The Iraqi budget is held hostage on the shelves“

Clare – Dinar Guru  Article: “Oil Minister: I expect gas reserves to increase to more than 200 trillion cubic feet” Quote “Oil Minister Hayan Abdul Ghani confirmed…the gas reserves achieved in Iraq amount to 128 trillion cubic feet and it is expected that these quantities will increase to more than 200 trillion cubic feet through these areas spread in the western region, which, by investing in them, will achieve self-sufficiency in gas and perhaps Iraq will turn into a country exporting gas to the countries of the world...We are about to go to the United States of America to present these exploration areas to specialized  American companies with the aim of investing in these areas and sites.”

Nader – Dinar Guru  Whatever who told you…the small category has been released and all that, not yet.   That doesn’t release it in one part of the country.  The whole country work the same thing.  They whole system the same.  When they release, they release it to all banks…

Militia Man – Dinar Guru  One of the hopes is Iraq is going to try to work with other countries in the region to defend their currency.  They’re going to try to keep it as stable as they possibly can.  Having flexibility to the exchange rate so they can move it a little bit here and there so they can inject money, take money out or buy and sell the dinar etc is something they’ve got on their mind.

Samson – Dinar Guru  Article “Oil Minister: I expect gas reserves to increase to more than 200 trillion cubic feet“

Clare – Dinar Guru  Article: “Oil Minister reveals upcoming visit to US to discuss gas investment file”  Quote: “The Ministry of Oil plans to offer these gas investment opportunities to specialized companies, and we have a visit to the United States soon for this purpose, as we plan to offer them to international American companies.”

Sandy Ingram – Dinar Guru The Iraqi Ministry of Finance revealed…the country’s financial revenues in 5 months surpassed 54 trillion dinars, approximately $41.3 billion.  Wow.  Data released by the Finance Ministry for the months of January, February, March, April and May 2024 showed oil exports are still the main resource for Iraq’s general budget representing 89%…Non-Oil revenues were 6.78 trillion dinars, approximately $5.2 billion…

Militia Man – Dinar Guru  Article: “After the success of the recent negotiations in Washington…the Central Bank succeeded…in diversifying the basket of commercial currencies.  Indicating this will lead to a significant decrease in the demand for the dollar...This meeting with…the Central Bank of Iraq…US Federal Reserve and US Treasury, which lasted for 3 days…”  Commercial currencies with the Iraqi dinar.  They’re not going to do that at 1310…When things change everybody’s going to be ready to do business with Iraq.

Samson – Dinar Guru  Article  “Oil Minister reveals upcoming visit to US to discuss gas investment file“

Clare – Dinar Guru   Article: “Oliver Wyman Company and lifting sanctions on banks banned from the dollar ”  Quote:  “A firm like Oliver Wyman can therefore help sanctioned Iraqi banks understand the sanctions imposed on them, work on strategies to mitigate their impact, and even help remove these sanctions in some cases.”

Militia Man – Dinar Guru  Article:  “Al-Mashhadani announces the approval of the majority of deputies to his nomination for the post of Speaker of Parliament”  Now it is waiting for a vote. Let’s see how long that takes…I do believe the optics of having all three presidents in place when they fully open the doors to the world with their real effective exchange rate, will or would be well accepted globally.  Investors would likely see it as security and stability.

Mountain Goat – Dinar Guru   Article:  “GOVERNMENT ADVISOR EXPLAINS THE POSSIBILITY OF USING THE DINAR INSTEAD OF
THE DOLLAR IN OIL SALES”  This is a…VERY good article in that it talks about the risks associated with pegging the dinar to oil prices…Instead they plan to repeg to a “basket” of international currencies from the top developed nations. This much less risky and is much more stable. Besides this is the Dr. Shabibi and IMF plan for Iraq.  Article Quote:  “Will it be a fixed exchange system supported by foreign reserves or will it be a flexible exchange system in which the (petrodinar) changes with the change in oil prices?”   I luv this…it reinforces again they are NOT going to peg the dinar to the price of oil... Nonetheless this…tells us they know they must do something and do it soon!

Militia Man – Dinar Guru  The Development Road Project is going forward whether you like it or not.  Iraq is going International, they just haven’t yet.  They’re not on the Forex but are they going to be there?  I think they’re going to be there…quite soon.

Clare – Dinar Guru  Article:  ”Dollar prices continue to decline against the dinar in Baghdad markets”   Quote:  “The selling prices in the exchange shops in the local markets in Baghdad recorded a decrease, as the selling price reached 149,750 dinars, while the purchase price reached 147,750 dinars for every 100 dollars“

Kaperoni – Dinar Guru   We have to hope that the Central Bank of Iraq continues to accept the guidance and directives from the IMF. Doing so would allow the currency to rise gradually over time as the economy grows.

Sandy Ingram – Dinar Guru  …Important reason the IQD is not on the Forex Market is that the Central Bank of Iraq has implemented certain restriction on the exchange and trading of the Iraqi dinar, making it less accessible for Forex Traders…Will the CBI change these restrictions and allow the IQD to be traded in the Forex market?  [We] do not have an answer to this question.  We hope so.

Militia Man – Dinar Guru  Article:  “…secure a sustainable water future, develop irrigation systems, and address the impact of climate change on rivers, ‘without disclosing its financial cost’.”  Why in the world would they not disclose the financial cost? …If they told you it was going to be at 1310, would they be telling the truth?  Probably not…They’re not willing to tell you what the value of the currency is...What is Iraq supposed to do by law, commercial business, in what?  The dinar.  They’re not willing to tell you how much it’s going to cost.  I think that’s a hint…Sustainable water for the future is most definitely going to be an issue.