Dinar Observer Daily

Larrykn – Dinar Guru  There were articles back in 2013 that Iraq was testing rates around $1.13 to 1. 20. Why would they do that if they were going to start at 1190?

MilitiaMan – Dinar Guru   …Then…the Launch of the electronic signature next week. Well that is for speed and security in the movement of capital. Safe, secure and fast. So what we are seeing is the advance stage of implementation of the MR (monetary reform) and ER (economic reforms) for iraq. Linking with NASDAQ, takes an internationally accepted currency. They won’t go live on an international level playing field with a non compliant program rate. They’ll need to expose the 2019 budget and apply the adjustment to redeem the new calculations for to be traded on Forex and for the ISX to Trade on the NASDAQ platform along side regional players, like in Dubai, etc..imo.  [post 2 of 2]

MilitiaMan – Dinar Guru  Articles:   “NASDAQ in New York City to raise the name and logo of the Iraqi market for securities“;   “Communications: Launch of electronic signature next week”   The above data is effectively telling us a few things. Firstly they appear that they are to begin trading with in the parameters of the NASDAQ, and is noted to be an historic event told to the world at the closing bell of the markets in the USA.  …They speak of electronic systems, networks and the speed of capital movement.  Well to get those things, economic activities have to have modernized systems in place. They clearly have them and the ability to interconnect with them globally. [post 1 of 2]

Mountain Goat – Dinar Guru   I…heard some ridiculous chatter about a LOP…If there was going to be LOP they would have already done it and not be sending out countless articles on the project to delete the zeros and valuation strategies. …a LOP is not possible. Not in my terms but from FACTS from the CBI itself.

Mountain Goat – Dinar Guru   There was a recent news article stating that 80% of all Iraqis still do not have electronic banking and bank accounts. …this simply is NOT the case. If this was the case the CBI could not have already satisfied its goal of reducing the on street three zero note supply by more than 2/3 down to just over 41 trillion dinars. How many times have they told us the original count of dinars printed and issued in 2003 and now in 2019? So we confirmed many times that this statement of 80% is a lie and impractical. My recommendation to everyone is to relax and wait for the reinstatement in the coming period. No one will know the exact time or date but we do know many things effecting these two parameters and so we can almost figure it out. We are now in the window and I do not see the window closing.   [post 2 of 2]

Mountain Goat – Dinar Guru   The news today is all about the upcoming expectations to vote on the remaining last four ministers. We have to remember that a long-standing condition to reinstate the currency of Iraq is to have a “fully” formed government. This does not negate the other work on reforms too but I feel this is the last remaining item to conclude satisfaction to move ahead again with the project to delete the zeros.  I have had word that the smaller category notes are already at the banks.  …so as the banks bring in the larger 3 zero notes they exchange them for the smaller notes. Since this is done way before any rate change, there are lots of smaller category notes obtained as needed to fulfill the needs of the marketplace afterwards.  [post 1 of 2]

Adam Montana – Dinar Guru   This is a topic we’ve been on top of since 2017, before the talk of OPEC agreeing to slowing oil production. The headlines would be more accurate if they said “Planned reduction in oil production to stabilize prices”  But that doesn’t get as many clicks, it’s just not as sensational…even though it’s the truth. And we’ve been expecting it, because we have been watching this sector through a fairly specialized set of glasses.  Interpretation: All is going according to plan.  And if all is going according to plan, then it’s just a matter of time.   … we’re not going to have an RV in the next couple days.   Unless I’m wrong. I’m always open to that possibility!  [post 2 of 2]

Adam Montana – Dinar Guru    This has been an interesting week in the markets, but not so much for Dinar when it comes to actual news.  There’s a good reason for this. Oil has been pretty flat, just like the news on HCL. Step back and take a “big picture” view of the situation, and it’s easy to understand that this is to be expected. I find it amusing to read the headlines that state “Oil production falls to (X time frame) lows…”  Hang on a second, oil “falls”?! That’s the headline? I don’t think that’s accurate. It’s not “falling” – it’s being controlled, exactly as they planned. [post 1 of 2]

Mountain Goat – Dinar Guru   They are not raising the rate (NO REVALUATION). …They are going to reinstate the dinar and must first complete the project to delete the zeros. A result of this process will be an increased new rate on the currency exchanges. Once reinstated the market will drive the rate up on the float. So our concentration is not so much on a rate increase but on a reinstatement process, the rate on FOREX will be the end result…  [post 2 of 2]

Mountain Goat – Dinar Guru   [GOI has nothing to do with raising the rate…it is a total CBI decision.]  Oh yes they do…I presented about 6 articles already from the Iraqi news media from members of the parliament, cabinet and economists in Iraq. All say it is a joint decision to go ahead with the project to delete the zeros. It just happens right now they are moving ahead rapidly on it.  …Dr Shabibi…said and I quote- “there must be a joint effort to make the decision and the CBI and GOI must work together” – but out of courtesy and not by legal commitment. This means the GOI may influence the decisions and has to pass laws to help the CBI with monetary policy. But the CBI make the final call, The CBI does not run the govt the GOI does. The CBI needs these banking reforms, anti-money laundering and anti-terrorist laws, etc…So in this regard Shabibi knew darn well they must work together…  [post 1 of 2]

Larrykn – Dinar Guru   they seem to be going in the right direction, I can’t wait to see what happens when Parliament meets.

Kaperoni – Dinar Guru   If you believe monetary policy is based on sound logic and principals then you know the dinar can never arbitrarily revalue.   It is my belief the CBI plans to gradually raise the value of the dinar as a tool to counter inflationary pressure created when significant investment comes to Iraq.  Iraq will never redemoninate or LOP the currency.  Monetary policy in Iraq the past 14 years has been a success not a failure.  The next phase will also be a success which is to float the currency. But first Iraq must complete the GOI and pass needed investment laws.  Completion of the GOI and the laws will encourage participation in Iraq’s economy thus giving the CBI a reason to begin to float the dinar.

David M. Witty – Dinar Guru   Iraqi PM Abdel-Mahdi confirms the need for continued US-Iraqi cooperation to defeat…  US President: we will spend $3 billion to develop Ein al-Asad base in Anbar Province, Iraq, to ensure final defeat of terrorism. We have no intentions of leaving Iraq.

Larrykn – Dinar Guru   Looks like they are working on the corruption over in Iraq, this is good news…What I’ve been reading is showing they are working on corruption and security these are two of the main things they need to get a handle on.  Article quote:  “Iraq has been intensifying the security measures in the western regions to prevent the infiltration ISIS militants fleeing Syria.”   …this article shows they are working on Security which we need to see if they are going to do something with their currency…this is all good news.   …when Parliament comes back if they get the laws passed for investors. and banking we will be looking good…IMO.

Kaperoni – Dinar Guru   A couple of good reads the last few days…WTO News as Iraq inches closer to full accession.  A critical part to this puzzle.

Larrykn – Dinar Guru   Article:  “Iraq deploys 20,000 personnel in Anbar to watch borders with Syria:”  IMO this is the reason why the US should not leave Iraq, Isis has lost in Syria and is heading back into Iraq, they don’t want to see what happened before happen again.  I think this month will tell us a lot about where we are at and going to be at.

MilitiaMan – Dinar Guru   Internationalism…Can’t hide it now… The Cat is out of the bag… Even the Governors of the Provinces and the Religious Authority is calling for distribution of the Iraqi wealth and now we see Citi Bank able to do similar distribution of timely payments through a chunky credit facility. These latest actions from the Governors meeting this last week on 2019 Budget allocations to be disbursed for re construction projects and Qasim al-Tai religious authority telling PM Mahdi to distribute the wealth to the citizens in a fair and equitable manner all around the same time frame of the passing of key laws this week.  My bet on this is the Citizens are squawking even louder now that the Tariffs are being enforced.  They signed this credit facility on Thursday of last week!!! Same day the Governors were meeting on disbursements to the provinces. See the the progress in play now? I sure do.. Man it looks good too! imo.

Kaperoni – Dinar Guru    So as we enter March there still is no RV or RI …Why?  Because there will never be a an overnight event.  Monetary policy does not work that way.  This is a process and as investment comes into Iraq the dinar will rise gradually via a float.  It could take 6 months to a year or more to rise to a level we all are looking for.

MilitiaMan – Dinar Guru   Internationalism…Can’t hide it now… The Cat is out of the bag… Even the Governors of the Provinces and the Religious Authority is calling for distribution of the Iraqi wealth and now we see Citi Bank able to do similar distribution of timely payments through a chunky credit facility. These latest actions from the Governors meeting this last week on 2019 Budget allocations to be disbursed for re construction projects and Qasim al-Tai religious authority telling PM Mahdi to distribute the wealth to the citizens in a fair and equitable manner all around the same time frame of the passing of key laws this week.  My bet on this is the Citizens are squawking even louder now that the Tariffs are being enforced.  They signed this credit facility on Thursday of last week!!! Same day the Governors were meeting on disbursements to the provinces. See the the progress in play now? I sure do.. Man it looks good too! imo.

BobTheTaxMan  if you show a huge amount of charitable contributions that actually exceed your income it’s going to get audited.  You can plan on it…good tax planning always has good records.  As long as you are compliant with the rules and regulations imposed by the IRS you do not have to fear it…I think it’s absolutely phenomenally marvelous the changes that have got on for 18 to 19 which makes this investment we are all involved in, wow, it’s just a huge huge blessing.  It’s going to be great!  But you need to look at the other side of the coin.  This is what the IRS is going to be looking for.  Be prepared.  Play the game.  And you will win.  [Post 8 of 8]

BobTheTaxMan …If you made over a certain amount of money you did not get to use Schedule A.  Period.  That got taken out for 2018.  There are no limits…Now charitable contributions: have been in the 30% to 50% allowable depending on your income.  Now that’s changed.  In 2019 it went from 50% to 60%.  This means a whole massive amount of tax liability that would have occurred because of having this money you can write off as charitable contributions.  Wow!  That is freaking awesome!  But you also need to remember… [Post 7 of… ]

Randy Koonce – Dinar Guru    Based on the information I have been able to get, we could see it as soon as this weekend, but hopefully no later than the 3rd week in March. That is our latest, and hopefully the last window. For some of you the tax consequences will be significant. Pay your taxes, but also be wise in the speed and manner in which you exchange…Take your time. Be deliberate and intentional. Be smarter than you’ve ever been in your life. There will never be another opportunity of this magnitude in our lifetimes. …ALSO this is very political so as I am very confident something can come up and delay. So do not quick breathing…We are close.. Every large bank will exchange… RELAX the RV is coming…Breathe…Check…CBI…every day to see if it has changed...   [post 2 of 2]

Randy Koonce – Dinar Guru   Ladies and Gentlemen of Dinar-Land. Please put your tray tables in the upright position, and make sure your seat belts are fastened. It truly looks like we are on the final approach and that our very long ride is about to come to an end. I hope you have given much thought to, and made very wise plans as you exit the ride.  As you all are aware of, this Iraqi dinar revaluation has taken many unexpected and unplanned twists and turns. Barring another new unforeseen bump, we are looking at March to be our final month of waiting for this to happen.   [post 1 of 2]

BobTheTaxMan  …And is it really worth cashing in all this dinar and ending up with this huge amount of capital and finding yourself under the gun scope of the IRS.  If you have an exorbitant amount of income that show up, I mean a great big chunk, you can justify it, that’s not the problem at all, but I promise you if they audit you and you have not paid your taxes on it they are going to hit you with penalties and interests.  And it’s going to be huge.  Just be aware.  If you take a lot out and your tax returns jump way up high you might set yourself up for an audit.  Plan on it.  It’s going to happen.  THREE:  One of the amazing blessing that’s come from 2018 to 2019 taxes is the simple fact that in the past Schedule A  which is where you put your itemized deductions and report your charitable contributions had limitations on it. [Post 6 of… ]

BobTheTaxMan  2.  …tax planning is absolutely critical…if you run out and cash in all this dinar three things are going to happen.  ONE:  You have to make dang sure when you cash in that dinar that you pay your taxes on it.  Don’t let it get away from you.  Calculate it.  Pay it up front.  Pay it quarterly.  Pay it monthly.  When you go get money out of the bank, pay taxes.  Just do it.  That way you don’t have to worry about it.  TWO: Realize if you pull a lot more money and show on your tax return than what you ordinarily would have, you have lined yourself up for an audit. Part of the tax planning is…where do you draw the line?  How much do you really need?  What tax bracket do you want to live in?  [Post 5 of…]

Adam Montana – Dinar Guru   We can certainly have an RV without the HCL, but doesn’t it make sense that a written agreement that guarantees a portion of the spoils to a major part of the Iraqi (bicracky) population would grease the wheels?  I think so. …Over the years, I’ve given more than a few deeper looks into my reasonings for the importance of the HCL but I hope I’ve also expressed that it’s not a “requirement”.   The Iraqi dinar will increase in value with or without an official HCL. Personally I think the rate will be stronger with the HCL. Also personally, I’d be happy with a lower rate without an official HCL.   [post 2 of 2]

Adam Montana – Dinar Guru   […why must they pass the HCL law before there can be a revaluation of the dinar?]     HCL is indeed merely a profit sharing agreement, and until there’s a decent agreement in place regarding profit sharing, we have a difficult road to travel for an RV, which is all about profit. The profits little people like us will see from a change in the exchange rate of the Iraqi dinar are small compared to what larger institutions will realize. This is something that happens every day, and that’s not particularly important. What IS important is this;   [post 1 of 2]

BobTheTaxMan   …But my suggestion would be don’t mess with it.  take the conservative side.  File it as ordinary income.  Pay your taxes that’s on it.  And keep your ear to the ground.  Any kind of new changes that are going to come out in this particular arena the dinar crowd is going to pick it up and run like crazy with it.  But most importantly if you have a half decent attorney or CPA who’s familiar with Forex they’re going to say “Guess, what?!”  and then you go back and amend the return.  So if you amend the return.  You’ll get back the amount of money you didn’t have to pay taxes on PLUS you’ll get interest from the federal government and if your state…has an income tax they have to pay you interest as well.  Hmmm…sounds like a good plan to me.  The thing I like about it is that I don’t want to have to walk around downtown looking over my shoulder worrying about the IRS getting on my case….My invitation is to realize that if you elect to file capital gains you’re walking the line.  That line could turn and snap you.  If it does snap you it’s going to cost you more money.  If you take the line and be more conservative and pay it as ordinary income whatever initial taxes you paid you have three years to recover.  And within three years they’ll be some sort of an answer that will be well known…let it go.  I assure you you’ll be a lot happier…  [Post 4 of…]

Currency365 – Dinar Guru   WE ARE OFFICIALLY IN GREEN LIGHT HIGH ALERT.

Adam Montana – Dinar Guru   I’d say things are still pointed the right direction.  OIL took a tiny step backwards, but still tracking for a win if my target of $60 is correct. In addition to what I’m hearing from the other side of the pond, and what my own experience and insights conclude, I still believe that $60 mark is where we want to be headed. Hitting that price, on the current trajectory, is solid evidence of stability in the markets and will be reassuring to the CBI so they can take some bold steps. There is a low rumble off in the distance that sounds like an HCL thunderstorm,so we’ll keep an eye on that.