Dinar Observer Daily

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…

Militia Man – Dinar Guru  I believe the Iraqi dinar is going to change value…and the citizens believe that too.  I believe Sudani has literally spoken those words…the dinar, it’s going to be stronger than the dollar.  He said those things on a couple of occasions.

Clare – Dinar Guru  Article: “Parliamentary Finance to Employees: Your Salaries Are Secured for This Year and Next Year Even if Oil Drops”

Mountain Goat – Dinar Guru  Article:  “AFTER THE DECLINE IN OIL, A GOVERNMENT ADVISOR: WE HAVE THE CAPABILITIES TO CONFRONT THE PROBLEMS OF THE GLOBAL ECONOMY”  I consider this one of those WOW! articles.  Quote: “the highest reserves in the country’s monetary and financial history” also “the growth indicators in the non-oil GDP have touched 6%”  WOW!

Pimpy – Dinar Guru  I just read an article not that long ago that said oil sales are now 89% of their budget which is good.  Remember it was 96% of their budget…Iraq is going in the right direction but they still rely on oil sales way too much…If Iraq starts stumbling and the prices drop low for oil per barrel then they start operating in the deficit…If it keeps dropping and gets too low then they’re going to have no choice but to…devalue the Iraq dinar…No body said they’re doing it.  I’m just saying we really got to pay attention to the price of oil per barrel because if it gets too low they don’t need to tell us what’s going to happen, you should already be aware that’s what they’re going to do…

Samson – Dinar Guru  Article: “Private Banks Association: The number of electronic payment points in Iraq increased from 7 thousand to 30 thousand“

Militia Man – Dinar Guru  Electronic payments…you can get this feeling it’s showtime because they’re really doing the development of the reality of financial inclusion.  They’re spreading that financial culture around the country…It’s coming, the growth stage.  

Mountain Goat – Dinar Guru  “ECONOMIC RENAISSANCE AND UNPRECEDENTED PROGRESS.. IRAQ MAXIMIZES ITS NON-OIL REVENUES AND REDUCES ITS DEBTS”. They are telling us the national debt is only 9% of their reserves now at $108 billion and GDP growth is very good… words like “unprecedented” and “maximizes”…tells me our choo choo train is moving down the tracks at an accelerated pace now.

Samson – Dinar Guru  “Economist: The development road will pass through 12 Iraqi governorates and will transfer Iraq to the world“

Sandy Ingram – Dinar Guru  The DRP (Development Road Project) is expected to increase Iraq’s GDP and gross domestic product which could quickly increase the currency’s [dinar’s] value.  Whether Iraq increases the value of its currency or not, once it becomes an international transportation hub investors will have the opportunity to invest the dinar they have in one form or another.

Militia Man – Dinar Guru  The development Road Project is opening up Iraq to the region and into the international world.  The private sector is going to be the main driving force...They’re going to have to expose an exchange rate at some point in time, sooner than later.  I’m going to go with sooner.

Samson – Dinar Guru  Article:  ”The Governor of the Central Bank of Iraq, Ali Al-Alaq, confirmed that the decline in oil prices will not affect the dollar exchange rate.“

Pimpy – Dinar Guru  I’m not saying they’re going to devalue the currency right now.  What I am saying is if they stay below $70 [per barrel of oil] for the medium term, you can see them devalue the currency.  I don’t think it’s going to happen anytime this year because the year is almost over.  I’d be a little nervous going into 2025.

Clare – Dinar Guru  Article: “6 scenarios that the Iraqi Central Bank will work on, narrated by Al-Issawi ”  Quote:  “The economic expert stated that the Central Bank of Iraq is negotiating with the US Federal Reserve regarding ending the work of the electronic platform for foreign transfers and replacing it with direct banking relations between Iraqi banks.“

Mountain Goat – Dinar Guru …They don’t need any economic revival to put a fair market rate for the dinar back on FOREX. It is all a lie….They are “artificially” suppressing the rate of the dinar. When will this abuse of the dinar end?   I believe this end is near…

Samson – Dinar Guru-  Article: “Al-Alaq: 70 digital banks have applied to the Central Bank for a license“

Pimpy – Dinar Guru  All kinds of changes happening over in Iraq.  People have been bombarding me with questions.  Let’s go over this because this is something I mentioned earlier and then again I’m the bad guy.  It’s something you should be aware of that it might happen...Take a look at the price of Brent Crude – $74 a barrel.  What is the budget set by Iraq for the
cost?  $70.  They’re okay but it has dipped slightly below there.  It’s back up above $71 which is good but man, that particular cost per barrel IMO I thought was too high and I expressed my opinion back when they first did it.  What does that mean for Iraq?  If they don’t have enough money to cover the budget… they’re going to have no choice but to, yep, I’m going to say it, just like I warned you, devalue the Iraqi dinar.

Militia Man – Dinar Guru  They’re talking about Iraq as going global and to the international financial system.  With that has responsibility and that responsibility will be defended by the central bank.  That responsibility is to have a stable exchange rate and to provide commerce throughout the country in and out and across borders, with efficiency and transparency.   That’s what they’re going to have and that’s what they’re doing.  There’s looking to be no stopping it.  It’s brilliant.

Mountain Goat – Dinar Guru   … there are not any of the newer lower denominations out in circulation in Iraq…if the newer lower denominations were already in circulation…Without the revaluation of the dinar at least inside Iraq, the economy would crash because the money would be totally worthless …How could anyone…buy anything with the newer lower denominations dinar notes without first a revaluation? It would take truck loads of money just to buy groceries...the CBI would have formally announced the Project to Delete the Zeros as this is the ONLY way the lower denominations can come out…There will be NO SECRET when they come out…The project to delete the zeros has NOT yet begun.

Samson – Dinar Guru  Article: “The new strategic agreement between Baghdad and Washington.. results and repercussions!” Quote “The government of Prime Minister Mohammed Shia al-Sudani faces a complex and difficult task…”

Clare – Dinar Guru  Article: “Iraq buys nearly 52 tons of gold in three years”  Quote: “According to the latest schedule published in September by the Council…Iraq bought 51.9 tons of gold during the previous years from 2022 until September2024…Iraq bought 33.9 tons of gold in 2022, 12.3 tons in 2023, and 5.7 tons in 2024, including 3.1 tons in February and 2.6 tons in May.”

Militia Man – Dinar Guru  The news out of late is completely off the charts and it points to I believe international.  Internationalism is where Iraq is headed.  I don’t believe for a minute they’re going to stop until they complete it…

Militia Man – Dinar Guru  Article from Saleh financial advisor for the prime minister…they’re getting ready to be able to export natural resources, agriculture…It’s the economic renaissance…They’ve been talking about maximizing their non-oil revenue and reducing debts.  They’ve been knocking it out of the park…

Samson – Dinar Guru  Article:  “Economic renaissance and unprecedented progress… Iraq maximizes its non-oil revenues and reduces its debts“

Samson – Dinar Guru  Article: “Close to Al-Ameri: We support Al-Sudani, and there is no demand for his resignation or early elections“