Dinar Observer Daily

Clare – Dinar Guru  Article: “Iraq resumes negotiations to join WTO”  Quote:  “The Iraqi negotiating teams have begun their preparatory meetings at the headquarters of the World Trade Organization in Geneva, in preparation for the third meeting of the working group on Iraq’s accession.”

Samson – Dinar Guru  Article: ”Negotiations for Iraq’s accession to the World Trade Organization after a 16-year absence“

Militia Man – Dinar Guru  They pushed out the HOR meeting till after this next holiday which is on the 17th…The WTO meeting they say is on the 18th unless their calendar changes.  I highly suspect that won’t be the case.  They set the stage for the presidency to be done on the 20th.  Those are the things we’re looking at today…I hope you guys understand what we’re seeing is powerful and I’m pretty excited and I think everybody else should be.  It’s really looking good…

Militia Man – Dinar Guru   This next week there’s supposedly a formal and historic meeting with the WTO and Iraq on the basis of accession… They told us it was going to be formal and historic...

Buckeyetree – Dinar Guru  …Much progress has been made from the USA trip by Sudani in April, the technology with fiber optics, electronic banking, using only the dinar, foreign contracts with huge projects, the ATMs, and the HCL practically done with Barzani in agreement for the goal not to be now counted in days rather than weeks and months. The cherry on top would be securing the Speaker of the HOR and ascension to the WTO on July 18.

Clare – Dinar Guru Article: “Baghdad calls on Washington to reconsider its sanctions on 32 Iraqi banks”  Quote:  “Nelson praised, ‘the steps taken by the Iraqi government to support the Iraqi economy and address the challenges it faces.“

Sandy Ingram – Dinar Guru  There is a high demand for US dollars in countries like Iran and Syria where local currencies have significantly devalued.  Entities in these countries are desperate to obtain…physical dollars …because they are accepted everywhere and impossible to trace…Iran and Syria find it more feasible to obtain dollars from Iraq.  The Iraqi market offers cheaper source of dollars…which impacts Iraq’s exchange rate dynamics by increasing the pressure on its currency system and contributing to dual exchange rates.

Pimpy – Dinar Guru  Article: “The stability of the exchange rate of the dinar against the dollar is real and firm” This is one of those big steps we have been looking forward to, which is stability of the currency.   We’ve talked about these a billion times – the country…government…economy and currency has to be stable.  Outside of a little back and forth with the government they seem to be doing pretty good everywhere else.  Good job Iraq.  They are now at a place in their country where the parallel market is not affecting the overall prices of their goods and services.

Militia Man – Dinar Gur  Ceasing the dollar auctions as we know it.  Tomorrow [Monday] is supposed to be the first day they’re going to have a new mechanism for using the dollar and selling that dollar.  People are going to have to play by the rules and be part of that FITR platform.  We have to go from there to see…

Samson – Dinar Guru  Article: ”WTO Working Party Meeting July 18th after 16 years“

Militia Man – Dinar Guru  They haven’t started oil pumping and you have to ask yourself, why?  Because they need revaluation for that and I think that’s what we’re waiting for.  Is that some sort of delay?  I don’t think so.  I think the inner connectivity of the most complex revaluation situation in the history of mankind…is complex.

Clare – Dinar Guru  Article:  “Source: Iraq’s Central Bank Governor in unannounced visit to US to discuss Yuan ban”  Quote:  “al-Allaq departed for Washington last Tuesday to meet with officials from the Federal Reserve and the US Treasury Department.“

Samson – Dinar Guru  Article “Sources: The governor of the Central Bank of Iraq made an unannounced visit to Washington on the Chinese yuan“

Pimpy – Dinar Guru  This is big… Article Quote: “According to the latest data that is available, transactions through the central bank electronic platform have considerably increased with daily transactions reaching $200 million which is consistent with the size of Iraq’s economy.  This marks a substantial rise from…2023 when transactions were around $50 million per day.”  That’s a huge increase of $150 million.  This is right on par with Iraq’s economy but the fact that the transactions have increased is a big plus for people investing in Iraq dinar…  [Post 1 of 2 stay tuned]

Pimpy – Dinar Guru   Article quote:  “The transparency provides a realtime reporting on the FITR platform can also enhance market confidence in the Iraqi dinar.  Investors and traders are more likely to trust a currency whose transactions are openly documented and monitored by regulatory authorities.  This increase in confidence can contribute to a greater stability in the foreign exchange market for Iraq dinar…Higher levels of activity transactions being reported on the FITR platform can indicate a vibrant and active economy.  A robust economy often translates to a stronger currency value as investors are more willing to hold the asset denominated in that currency.”  This is good news but again you guys stay grounded.  Sandy by.  Every day there’s more and more good news coming out of Iraq…This is great news. [Post 2 of 2]

Mountain Goat – Dinar Guru  In talking to my CBI contact      …I was told there is a master plan they are following to get to the reinstatement… The point that was made to me…is that the IQD should already be reinstated if nothing else to what it was prior to 1990, then to let it float and the market will drive it like any other foreign currency that is traded…

Clare – Dinar Guru  Article: “Iraqi-American talks on the exchange rate of the dinar against the dollar”

Jeff – Dinar Guru  Some of you have said that parliament has nothing to do with this [the budget]…It actually does  because they unconstitutionally approved the budget and the budget’s approval has everything to do with it.  That’s the piece to the puzzle that is not understood.  Article “Parliamentary law challenges the 2024 budget tables”  Parliament can only review and approve laws.  It was parliament that did these amendments making their steps or actions of approving the budget unconstitutional.   The courts possibly next week around Wednesday/Thursday declaring the budget itself as unconstitutional and overturning its  approval…

Sandy Ingram – Dinar Guru  When you invest [your dinar profits], more than likely your financial advisor is going to recommend business ventures that will create a cash flow to uphold your lifestyle.  If it takes a moment or two to generate income  from your investments, keep working people until it happens.  You don’t want to live off of your initial investments. [Dinar Guru  Note: Consult your financial advisors and APPs at the appropriate time to find the right investments for your unique circumstances  and lifestyle.] 

Pimpy – Dinar Guru  Oh, this is big news right here, look at this, Article “Iraq’s non-oil revenues reach 11% for the first time”  Been talking about this for the longest time.  This has got to increase.  It’s usually around 4%…Yah!  Pee-pee dance!  Finally we’re starting to see some movement.

Clare – Dinar Guru  Article: “For the first time, the Iraqi state’s non-oil revenues record an increase of 11%” Quote: “…for the first time, the non-oil revenues of the Iraqi state recorded 11% of the total revenues, with oil revenues falling below the 90% barrier.“

Militia Man – Dinar Guru  [Response to Guru Jeff 3-12-2024 below] The 2023-24 budget has been approved and voted on and even in the Gazette as of ~June 2023.  It allows the government to make amendments to things.  Is this constitutional thing? I don’t think so.  I think they’re minor amendments.  It has nothing to do with being constitutionally outside of the block.

Clare – Dinar Guru  Community Comment: “I don’t understand how the budget can be sent back to Parliament when the President signed and sent it to the Gazette for publishing.”  Article:  “A representative of the framework: The 2024 budget will be returned to the House of Representatives and the reason is revealed”  THE AMENDMENTS NEVER GOT PUBLISHED IN THE GAZETTE YET.

Pimpy – Dinar Guru  Article: “Nearly one trillion dinars of customs revenues in the first half of 2024”  This article is really good news as we are aware Iraq has to diversify their income right now.  They rely way too much on oil sales so they have to find alternatives to that.  Customs is one of those alternatives…It is generating a lot of income for Iraq…This is exactly what we want to see Iraq do, work on budding those alternative revenues for Iraq.  This is a big help…

Clare – Dinar Guru  Article: “Customs revenues amount to nearly one trillion dinars in the first half of 2024“

Jeff – Dinar Guru  Article: “The 2024 budget will be returned to the House of Representatives and the reason is revealed”  Iraq approved their budget on Monday June 3rd. I’ve known since June 4th Tuesday that the budget was unconstitutional...I’ve stayed quiet since to let the news catch up.  I knew this immediately was unconstitutional.  I knew it was going to get overturned by the court, the whole time.  Now you’re witnessing it.  The news is finally, a month and a half later, catching up…That’s how far ahead we are..

Samson – Dinar Guru  “A representative of the framework: The 2024 budget will be returned to the House of Representatives and the reason is revealed“

Samson – Dinar Guru  Article: “Parliament announces completion of requirements for legislation of the Industrial Investment Law“

Clare – Dinar Guru  Article:  “Foreign Minister arrives in Washington”  Quote:  “Foreign Minister Fuad Hussein arrived in Washington today, Wednesday, to participate in the 2024 NATO Summit.”

Nader – Dinar Guru What’s going on in Iraq is really really good.  Last month you see me talking about this month, about July.  I said from now to July 8th you’ll get some good news and that’s exactly what happened.  You see every proof of possibility to revalue or reinstate.  I think it’s reinstatement more than revaluation.