Dinar Observer Daily

Kaperoni – Dinar Guru   Article:  “Banking reform enters a decisive phase: The Central Bank and banks are in a race against time – Urgent“

Militia Man – Dinar Guru  Iraq at some point is going to be ISO2022 compliant and I believe able to do cross border transactions in dinar… They’re already reconnecting…They’re talking about, expedite full integration.  They’re in a hurry.

Sandy Ingram – Dinar Guru    From the 1940’s through the 1970s the Iraqi dinar was one of the strongest currencies in the Middle East.  Oil wealth made Iraq rich.  The dinar at one point was worth more than $3.00.  Iraqis had great pride in their money…Everything changed after the 1980’s.  Wars with Iran, the invasion of Kuwait and the international sanctions in the 1990s weakened Iraq’s economy.  Inflation skyrocketed and the dinar lost much of its value…Its journey shows how much money is…a reflection of trust, identity and the belief people have in their country’s future.

Clare – Dinar Guru   Article:  “Banking reform enters a decisive phase: The Central Bank and banks are in a race against time – Urgent ”  Quote: “the end of September will be the deadline for private banks to sign the final amendments to the reform paper submitted by the Central Bank of Iraq in coordination with Oliver and Iman...Debate is no longer about the feasibility of reform, but rather about the mechanisms for implementation and consensus.”

Sandy Ingram – Dinar Guru  Iraq’s joining the Forex market for regular trading is one of the best solutions for Iraqi dinar investors to be able to cash in our Iraqi dinar banknotes and trade, receiving the currency of their choice in profits.  At  least that is how we hope things will go…It looks like Iraq is headed for the Forex, but we can’t be 100% sure.

Pimpy – Dinar Guru  Once you’re ready to take your currency in, you found an exchange you like, everything goes the way you want it to, you just go deposit it directly into your bank account…

Fnu Lnu – Dinar Guru The REER still officially stands at 1300 IQD/USD. The trading rate is 1310. 

Clare – Dinar Guru   Article:  “Foreign Ministry: Cancellation of US mandate for Iraq does not include operations against ISIS”    Quote: “Congress’s revocation of war authorizations represents a step towards strengthening the partnership with Washington and entrenching the principle of respect for sovereignty, reflecting the development of relations with the United States.”

Samson – Dinar Guru   Article:   “NASSIF : THE US CONGRESS’ DECISION TO REVOKE THE MANDATES ADDS TO THE PRIME MINISTER’S SUCCESSES“

Militia Man – Dinar Guru    Real Effective Exchange Rate is off of fundaments.  It’s about their natural resources…non-oil economic resources…taxation…e-signatures…ability to know your customer (KYC), know you have the money and know you’re going to get paid on time... That’s what it’s all about.

Mountain Goat – Dinar Guru  Article:  “GOVERNMENT ADVISOR: LINKING AL-FAW PORT WITH OMANI PORTS WILL ENHANCE IRAQ’S REGIONAL AND INTERNATIONAL STANDING”  …when we see this kind of news we must realize Iraq is slowly chipping away at setting  themselves up for huge revenue streams…why would the WTO get involved with Iraq if not vast potential for trade…What we are waiting for now mostly is the release of the dinar back on the international currency markets. The liberalization of the dinar.  This is all part of it. This is also part of piecing together the Oil and Gas Law.

Pimpy – Dinar Guru  You cannot negotiate the exchange rate.  It’s going to be whatever the exchange rate shows on Forex…If you have a bank account at that bank [you’re talking to], they’ll exchange it for free…There are no ‘perks’…It’s like depositing dollars into your bank account.  You can just tell them to put it in your bank account.  You’re not going to run around carrying it in a duffle bag…

Clare – Dinar Guru   Article:  “Iraq Strikes Deals with Global Carmakers to Launch Local Vehicle Assembly Lines”   Quote:   “The Iraqi Ministry of Trade announced agreements with major car manufacturers from Germany, China, and Brazil to establish automobile assembly lines inside Iraq.”

Militia Man – Dinar Guru   Global integration for Iraq into the marketplace is obviously right before our eyes.  I hope you take your investment seriously…We’re going to keep studying this as we go and probably into the future because once this happens there’s going to be a lot of things that are going to happen thereafter in my view… 

Pimpy – Dinar Guru  There’s no reason for a bank to ask you to sign an NDA…People exchange currencies every day.  They don’t go, ‘Hey, come here buddy. You got to sign this NDA.’…

Samson – Dinar Guru  Article:  “THE UNITED STATES REVOKES ITS (1991-2002) AUTHORIZATION FOR THE WAR ON IRAQ“

Sandy Ingram – Dinar Guru    Sudani is telling us Iraq holds 150 billion barrels of proven oil reserves, enough to provide for more than a century.  He believes this wealth isn’t fairly reflected in the official [OPEC] quota.  This is big news and this is surprising news because OPEC was founded in Baghdad.  Iraq is a founding member of OPEC.  To my knowledge this the first time Iraq has openly questioned OPEC…Iraq says it deserves a bigger share… 

Fnu Lnu – Dinar Guru  Iraq does have a tremendous amount of oil that has not been exploited. Though this is not the diversification  we would like to see, it is significant to note as Kuwait has a $3.275 + Dinar with no diversification so is this mantra of diversification necessary for an RV. I don’t think so.

Militia Man – Dinar Guru   If you were to do a re-denomination, you’re going to need a revaluation first…  I believe Iraq is going to do a revelation, dropping the three zeros and then they’re going to re-denominate [with] lower denominations.  And they’re going to apply a real effective exchange rate to that.

Clare – Dinar Guru   Article:   “Strengthening digital infrastructure”   Quote:  “Electronic signatures are a cornerstone of banks’ digital transformation, providing a reliable technical and legal basis for electronic transactions…Having an internationally recognized electronic signature means that Iraqi banking documents and transactions will be accepted  internationally…In short, this decision is not just a technical addition, but a strategic shift that lays the foundation for the Iraqi banking sector to compete regionally and globally, and to enter the era of digital banking with confidence and security.“

Mountain Goat – Dinar Guru  Articles: “BAGHDAD REFUSES TO SIGN A TRIPARTITE AGREEMENT REGARDING THE PAYMENT OF $16 TO OIL COMPANIES.”;  “ERBIL PRESENTS A NEW PROPOSAL TO BAGHDAD REGARDING NON-OIL REVENUES.”; “MASROUR BARZANI: WE ARE CLOSE TO A FINAL UNDERSTANDING WITH BAGHDAD REGARDING NON-OIL REVENUES.” …I just presented three…articles today on this topic of finding a settlement between Kurdistan and Baghdad for getting the HCL… these are all the details that will lead to finally settling the Oil and Gas law. Remember the US has stated this is on the list of one of the issues that must be resolved. This is a critical issue and must not be overlooked moving forward. 

Militia Man – Dinar Guru   Iraq is ready for integration into the global financial system…

Sandy Ingram – Dinar Guru    Here’s what still needs to happen before the IQD can be represented on the forex market like other currencies. 1.  Keep the official and street rates aligned and liquid so pricing is transparent and spread are tight.  IMF says progress is real but more is needed.  2.  Finish cleaning up anti-money laundering and counter financing of terrorism gaps   3.  Continue bank reforms so the system is well capitalized, governed and digitally connected…Optional but helpful …consider formally accepting IMF Article VIII obligations to signal in legal terms currency account payments remain free and non-discriminatory…Iraq has done a lot more than what is left to be done.

Clare – Dinar Guru  Article: “The US House of Representatives revokes the war authorizations for Iraq”   Quote:   “The Iraqi Embassy in Washington announced on Thursday that the US House of Representatives has approved the repeal of the Iraq War Authorizations for the years 1991 and 2002, noting that this decision marks an important milestone in the development of relations with the United States…this step represents a reinforcement of the principle of sovereignty and opens a new page in the path of Iraqi-American relations based on mutual respect and common interests. We look forward to its approval soon by the Senate.“

Militia Man – Dinar Guru  The Iraqi dinar, is it real?  Of course  it is.  It’s completely real…Some of you folks always ask, ‘Why did you get into this?‘ …I did research to get to my decision to buy the Iraqi dinar.  One of the thing I found was an IMF 198 page document…It was $3.22. That was Iraq’s currency based off oil. Today we have non-oil resources… New  banking…  new technology…new natural resources they found.  All of those types of things come into play because that’s where valuation comes into.

Mountain Goat – Dinar Guru  WOW! Iraq is quickly heading to a financial superpower.   Article: “IRAQ’S NON-OIL REVENUES JUMP TO 7 TRILLION DINARS THANKS TO REFORMS.”  So, we have read past articles and witnessed all the efforts that Iraq has taken in reforms in all areas of banking, financial and the economy. This is how they got where they are today. This has been an uphill battle. 

Pimpy – Dinar Guru  The bank won’t even talk to you in the first place until the restrictions are taken off the Iraq dinar.  When the Iraqi dinar starts showing up on the Forex, then is a good time to contact your bank to see if there’s any restrictions currently on the Iraq dinar or could you go ahead and bring your dinar in.  It’s that simple…

Militia Man – Dinar Guru  Everybody knows Iraq has got massive amount of resources. We talked about the $16 trillion worth of natural resources, probably above and beyond the oil…Iraq’s transformation and global integration will likely make Iraq’s vision a reality…

Newshound – Jeff  The news is becoming so real that it is so blatantly obvious that the rate is probably changing in the second half of September…You’re seeing the most critical information in this you ever have.

Sandy Ingram – Dinar Guru   There’s not a single button you can press to list the Iraqi dinar on Forex.  It’s really about proving through policies and underlying financial plumbing that the system is clean, the rate is stable and unified.  Banks can settle cross-border payment easily and there’s enough liquidity.  Iraq is moving in that direction…The IMF has publicly recognized these steps.  When those improvements really stick, more global counterparties and eventually [Forex] retail platforms will be comfortable offering the Iraqi dinar.