Dinar Observer Daily

Sandy Ingram – Dinar Guru   If the Iraqi dinar revalued next week are you ready? …Understanding this one fact, you will  do just fine.  The wealthy never never ever spend their bases or the foundation of their wealth.  In your case this would be the  profits from your Iraqi dinars...Wealthy people invest their initial profits.  The first person they hire is a financial advisor.   The second…is a tax professional…to make sure Uncle Sam doesn’t get large sums of their money.  If you do anything else you are in the fast lane to going broke.

 Clare – Dinar Guru  Article: “Iraq announces the start of direct flights between Baghdad and Beijing”   

Militia Man – Dinar Guru  Key players are ready to get this thing done.  It’s a very good sign.  I honestly believe we’re watching history in the making…We’re seeing progress like no other…If you’re paying attention I think you guys should be really pumped and excited that things are happening.

Pimpy – Dinar Guru  Article quote: “Saleh showed in the news that the fixed exchange rate system in Iraq is based on the international reserve base that is the highest in Iraq’s history and monetary policy as their foreign currency covers more than 100% of its total currencies issued.”  I spoke about this before saying that the more Iraq has in foreign currency reserves the stronger its currency will be.  Right now they’re at the highest it’s ever been.

Mountain Goat – Dinar Guru   “In light of the strength of the official central exchange market, the exchange rate of the dollar to the dinar in the parallel market today in our country does not constitute any relative importance in influencing the stability of the general price level…”  Saleh… financial advisor to the Prime Minister…is telling us…the parallel market versus the official rate are under control and no longer an issue for stability. It also tells me they have their inflation problem under control. This is amazing because my CBI contact told me this one of a few other issues was the reason why the Project to Delete the Zeros was not kicking off…

Pimpy – Dinar Guru  Question: “Is the exchange real?”  The exchange is real if you’re talking about the currency.   It’s a legitimate currency.  Right now you can get 1320 dinars for every $1.00.

Clare – Dinar Guru  Article:  “World Bank: Iraq maintains its status within the upper middle-income category“  Quote: “The bank added that it classifies the world’s economies into four income groups: low-income countries, lower-middle-income countries, upper-middle-income countries, and high-income countries, based on per capita gross national income. The measures of gross national income are expressed in US dollars.“

Militia Man – Dinar Guru  The Oil and Gas [Law] and the presidency of the House of Representatives, I think those are going to be coming, tie to tie, hand in hand because…if they need to value…assets, they’re going to need a real effective exchange rate…

Militia Man – Dinar Guru  Iraq has a meeting with the WTO according to the calendar…on or around the 18th of this month.  What is it about?  It’s talking about their accession process, whether that’s going to happen or not that day I don’t know but assuming that it’s moving forward it sounds like their accession is going to be imminent.

Paulette – Dinar Guru  Question: “Iraq is supposed to join the WTO this 18th of July, is that correct?”   the 18th is the next meeting of the Steering Committee…the Full Assembly would have to vote to allow Iraq full accession…they are not scheduled to meet until early 2026…It would be extremely uncommon for a Steering Committee to only meet with a country 2 times after the initial meeting.  4 to 7 is the usual…this only the second meeting of the Steering Committee for Iraq.

Clare – Dinar Guru  Question: “Iraq is supposed to join the WTO this 18th of July, is that correct?”  IT WAS REPORTED ON IRAQI TV…THAT IRAQ WILL BE FULL MEMBERS  OF THE WTO JULY 18TH.

Mountain Goat – Dinar Guru   The news is still concentrating mostly on bringing in foreign investors and they told us today that there was a two part plan, and this plan is now completed…The other part of the ongoing news from Iraq is still about the Parallel Market rate vs the Official CBI rate of the dollar…Saleh works with this issue daily and he is executing a plan. The plan takes time but Saleh says it is working and again tells us “soon” the parallel will equal the official rate… [Post 1 of 2….stay tuned]

Mountain Goat  So the rate is slowly stabilizing as has now reached 1,220 from 1,320. The goal is 1,121.  Folks this is not too far off…This is all good news…Am I telling you they will RV when it reaches their goal. Of course not but these rates adjustments tell us they can not hold this back much longer and even with their own criteria something must be done and done soon to bring the dinar to the international investment world and free it up…  [Post 2 of 2]

Militia Man – Dinar Guru  Why haven’t you produced any oil out of the Cyan Pipeline?  What about the Hydrocarbon Law?   How come you haven’t seen that done yet?  Why?  Because they’re waiting for something that the Central Bank of Iraq is the one that’s going to be able to talk about and I think that’s a real effective exchange rate.

Pimpy – Dinar Guru  Will the exchange rate change?  Yes of course it will but there are still some hurdles that Iraq must continue to go through before they make that change…I guarantee you and I promise you this, nobody, not a single person out there, anywhere knows what the rate is going to be or when it’s going to happen.  They will let us all know when the time comes.   In the meantime if you at least are aware of what you’re looking for, it gives you an idea of how long things are going to take.

Sandy Ingram – Dinar Guru   Article:  “Advisor to the Association of Banks:The third strategy of the Central Bank is a new methodology for financial and banking reform”  The Central Bank is prepared to achieve all goals in the second half of 2024 and the years of 2025 and 2026. …these are from the original white papers that we talked about a couple years back.  This article is the first indication that the white papers are the guiding light to the CBI’s progress toward financial stability and banking reforms that aligns with International banking standards.

Militia Man – Dinar Guru  You’re not going to get Iraq to jump into the world market, the global stage, without being able to be competitive and communicate electronically – Platforms needed to be designed…We know they have e-government…e-education, they have all that and done it over a short period of time.  The electronic systems at the borders, the ISA system are global.  They are worldly…The WTO is at the core of this.  It’s real.

Mountain Goat  Like I said way back in 2023 even before the budget was finalized that there would NEVER be an RV rate in any budget. Why? Because the Iraqi budget is based on the selling price of a barrel of oil and not their currency rate…Budgets are based on revenues not currency rates.

Clare – Dinar Guru  Article: “Dinar Explainer 1: Why Iraq has Two Exchange Rates” Quote:  “On a recent webinar organized by the Iraq Britain Business Council (IBBC), Professor Frank Gunter of Lehigh University explained the causes and effects of Iraq’s dual exchange rate…“ 1.  Excessive Demand for US Dollars Internationally:…  2. Internal Demand for Dollars…  3. De-Dollarization Efforts by the New York Fed:  The New York Federal Reserve has restricted dollar transfers to reduce dollar flows to Iran and Syria. They have also excluded over two dozen Iraqi banks from transactions, which has increased the complexity and demand for dollars in Iraq.

Pimpy – Dinar Guru   Article:  “Customs complete the first phase of the automation project and reveals its revenues within 5 months”  They’ve been kept in the dark ages for a long time.  Everybody was doing everything by paper and pencil and it was kept that way for a reason…Banking and other institutions are seeing their companies change with this new technology are going to be excited.  It’s going to make their work a lot more efficient…it’s only going to get better for Iraq.  This is one of those way they can generate revenue other than from oil.  This is exactly what they need to diversify.  Quote “revenue rate will raise by the end of this year to 200% from what it was in 2022.”  That’s a hell of an increase…it’s going to boom over there.

Militia Man – Dinar Guru   Iraq…hasn’t had a real effective exchange rate for over 20 years…Man we’re really really close.

Mountain Goat  I…asked [my CBI contact] how the rate of the dinar would be determined in the future…I was…told that “you know and I know that the rate of the dinar is now being artificially suppressed”…I was told that Iraq is in a much better situation now prior to the 1990 embargo and so why not have an international rate again with at least a rate equivalent to the late 1980’s prior to the invasion…

Pimpy- Dinar Guru  I own 5 million Iraqi dinar.  Nothing would make me happier than to wake up in the morning and hear, ‘hey, the new exchange rate is 3 US dollars for 1 Iraq dinar and they kept the zeros on there.‘  I would be jumping up and down…

Militia Man – Dinar Guru  The Real Effective Exchange Rate changes the whole dynamics.  They wouldn’t have gotten this far in the stage if they were going to go do all the things they’re talking about at 1310.  They would have already done it by now…

Samson – Dinar Guru   Article:   “Iraq and Britain discuss preparations for Sudan’s visit to the United Kingdom and ways to enhance partnership and cooperation between the two countries“

Militia Man – Dinar Guru  This isn’t the old days. It’s a progress of education that they are teaching us and they’re teaching their people.  They’re telling the world what they’re doing. The ‘big money’, they know how this is rolling and they can see this…These are the things…we should feel good about because this is showing us big things are happening.

Clare – Dinar Guru  Article:   “The President of the Republic approves a number of laws, including the 2024 budget schedules”  Quote:  “The President of the Republic, Abdul Latif Jamal Rashid, ratified a number of draft laws, which are the schedules of the Federal General Budget Law for the year 2024…The laws were sent after their approval by the President of the Republic for publication in the Iraqi newspaper Al-Waqae’ to enter into force.“

Clare – Dinar Gur  Article: “Iraq and Britain discuss preparations for Sudanese’s visit to the United Kingdom and ways to enhance partnership and cooperation between the two countries”

Mountain Goat – Dinar Guru   …it is nearing the end of June already…Recently we witnessed a surge of news from many of the prominent global entities including the UN, World Bank, IMF and the EU. All of them praising Iraq and giving “kudos” to them for the hard work and achievements. Today is not different as the articles once again tell the RV spigot is wide open to the RV.

Kaperoni – Dinar Guru  Until Iraq creates such conditions, passes laws, encourage investment, and Iraq begins to diversify away from dependence on oil, nothing will happen with the Iraqi dinar.