Dinar Observer Daily

Clare – Dinar Guru  Article: “Withdrawing has become easier.. Al-Rafidain begins deploying ATM machines in institutions and malls”  Quote:  “Al-Rafidain Bank begins deploying ATM machines in its main branches, and then institutions, commercial areas, and malls, respectively, in implementation of its strategic objectives”

Samson – Dinar Guru   Article:   “Rafidain Bank begins deploying ATM machines in its main branches”

Mountain Goat – Dinar Guru    …Just look at all the progress made just since December 2022 when Iraq announced they were finally entirely out of Chapter VII. And now the spigot is wide open…the final issues preventing the reinstatement are being dealt with one by one…my contact in the CBI told me there is a very high probability that we would see the currency swap out in this month of June and so we watch and wait.

Kaperoni – Dinar Guru   Floating the currency is the best option but only once they have created a diverse economy that is not dependent solely on oil.

Militia Man – Dinar Guru   The black market is going to exist if the United States dollar is less than the Iraqi dinar…There’s not much demand for the dollar now…They’ve got it under control.  Is it showtime? I sure hope so.

Pimpy – Dinar Guru  Article:  “Oil slides to four-month lows as OPEC+ deepens bearish sentiment”  If oil prices continue to fall, where is the incentive for Iraq to increase their exchange rate?

Mountain Goat – Dinar Guru  …Iraq’s exit from the list of “high-risk countries” …was officially announced by the International Task Force (FATF) last week. Yes, “the writing is on the wall” now as this is the BEST news…Iraq’s exit from the list of high-risk countries could not get any better. They are slowly clearing the way to the reinstatement, one obstacle at a time…They were not about to release the currency back to FOREX with this in place…WOW! WOW! WOW! news for us today

Buckeyetree – Guest Guru  Iraq continues to transform into the modern era with banking and now fiber optics. With security and stability and safety (banking laws against terrorism and corruption), investors / companies will find a good environment to do business...Praying with the blessings to be realized that this will be in the coming “days” or sooner.  Big plans for an improved Iraq and for ministries.

Clare – Dinar Guru   Article:   “Kuwait connects its “Fiber” network to Iraq”  Quote:  “Iraq will be a major corridor for passing the network, not only in the Gulf.  But for the countries of East Asia, it will be synonymous with the Egyptian corridor…Iraq has become the focus of attention of countries and major international companies due to the incidents that took place in the Red Sea and the fear of the cessation of communications through this corridor.”

Mike Bara – Guest Guru   I want to say that this is not a rumor. I am not passing on a rumor…I know a guy…he got a call from a High corporate banking official from a major bank. And he said “You know that thing you have been bugging me about for the last 10 years?” (and we all know what it is – it’s the RV) And the banker said “Well congratulations buddy- your dreams are about to come true!”…And the banker said  “We just got a memo today, a letter from headquarters informing us to Get Ready Right Now because the Iraqi dinar is revaluating extremely soon. Boom…  I don’t know how to evaluate the term “really soon” except to say I think it means in the next 2 or 3 days. We don’t know but, that’s what I think it means.

Clare – Dinar Guru  Article:  “Parliamentary Committee: The investment law will see the light soon”  Quote:  “Member of the Investment and Development Committee, Muhammad Al-Zayadi, confirmed…the next legislative term will witness amendments to the investment law.“

Militia Man – Dinar Guru  I don’t care if you’ve been in this for 20 years.  What we’re seeing now is completely different.  It’s a progression.  Some people don’t like the progression.  They just want it to be over and done. Welcome to the club.

Clare – Dinar Guru  Article:  “Parliamentary Finance explains the reason for postponing the publication of the budget tables after the Eid holiday”   Quote:  “A member of the Parliamentary Finance Committee, Representative Moeen Al-Kadhimi, confirmed on Wednesday that the committee requested that the budget tables be redone before publishing them in the Official Gazette due to the existence of printing errors in the numbers, indicating that the committee is in the process of re-auditing the numbers and correcting the printing errors for the purpose of publishing them until after the Eid Al-Adha holiday.“

Samson – Dinar Guru  Article:  “Representatives appeal the budget schedules to the Federal Court”

Dinar Investor – Jeff    I told you guys the court would be overturning the budget because it is unconstitutional...I basically predicted the future for you.  It’s getting close to happening.   They’re most likely going to do this next week.  Article:   “Legal:The Federal Court will vote on the unconstitutionality of the budget table”   I told you the budget is unconstitutional.  I told you nothing was going to happen to the budget.  As you see I’m right.  The budget is getting overturned.  It is going to go back to an unapproved state.

Samson – Dinar Guru  “Jordan considers Iraq one of its ‘most important’ key partners in the investment field”  

Kaperoni – Dinar Guru  There is no RV.  Iraq could never afford any significant increase in the dinar. And delete three zeros is a neutral event. No gain on the currency value. We hope this does not occur.  The only way the dinar will ever go up  in value is a float based on the economic success and growth of their own economy.

Dinar Investor – Jeff  The central bank announced their 3rd strategic plan…They’ll be increasing gold reserves…they also said they’re going to offer new issues of high quality currency and reduce the deficit…

Nader – Dinar Guru  Last week…I said Iraq government start a new white paper, it’s all about the currency.  From here to the 8th of July we should have an answer.  What they going to do – Are they going to change the exchange rate or not?  That’s what I said exactly.  They’re working on it.  I know they created a white paper on that.   The CBI… government of Iraq, the reserve and the IMF are all working on the same page on those white papers.

Militia Man – Dinar Guru   Article quote: “…this year will witness a significant and tangible change for the citizens.”  1310, if going into the future, is not…a significant tangible change…We already know Alaq said he was going to have to delete the zeros.  We know al-Sudani said the dinar is going to be stronger than the dollar…

Samson – Dinar Guru  Article: “Parliamentary Committee: The investment law will see the light soon”

Mountain Goat – Dinar Guru  If you step outside of Iraq, when they finally do reinstate the dinar, the exchange of the three zero notes…will exchange to whatever the currency exchanges i.e. FOREX rate is at the time.

Militia Man – Dinar Guru  When you drop three zeros it creates value. It’s that simple. When you add a real effective exchange rate to that value that’s created from dropping the three zeros, that’s when the fireworks begin.

Kaperoni – Dinar Guru  Monetary policy in any country is never a random act or arbitrary decision. It’s the result of progress. Until Iraq passes the needed legislation to encourage investment, the dinar will continue to remain weak.

Sandy Ingram – Dinar Guru The Central Bank of Iraq denied issuing a new currency denomination. The decision highlights the bank’s confidence in the strength and stability of the Iraqi dinar, Even as other economies toy with the idea of introducing new denominations…

Kaperoni – Dinar Guru “…New currencies coming out in Iraq”. Not true, the Iraqi dinar is the currency of Iraq. As far as any new smaller denominations, they will be introduced only as needed if and when the value increases and warrants so. There is no significant RV!

Militia Man – Dinar Guru Article: “You will start with the transfer of 2 billion dinars” Quote: “Parliamentary legal department, the budget will be dispersed and will not be affected by appeals.” There’s been some misunderstanding about that out there…

Clare – Dinar Guru IN 2023 THERE WAS AN APPEAL ON THE ACTUAL BUDGET… BUT WAS RULED OUT THROUGH THE COURTS. THE TRIPARTE BUDGET WAS LEGALLY PASSED, SENT TO THE PRES. WHO SIGNED IT AND WAS PUBLISHED IN THE GAZETTE. Today’s Article Quote: “I do not think there will be an appeal, and even if there is an appeal, the budget will be spent, because it was voted on and its issue was decided legally.” THERE IS NO APPEAL ON THE BUDGET SCHEDULES THAT WERE JUST PASSED BY PARLIAMENT AND IT WAS NOT NECESSARY TO BE SIGNED BY PRES. BECAUSE THE BUDGET WAS ALREADY PASSED…THE MOJ HAS IT NOW AND WILL PUBLISH WHEN READY.

Dinar Investor – Jeff  You don’t want the budget to be approved because if it’s approved, it’s approved with dinar at today’s Central Bank value, 1310. What you want is the court to overturn the approval.

Mountain Goat – Dinar Guru …the IMF is not going “lop” the Iraqi dinar. A “lop” is a tool the IMF uses to restart a currency from massive inflation. …We also have articles for Iraq telling us they WILL NOT lop the dinar. They do not have massive inflation and so this tool of a lop is not necessary. That is why they call it the “project to delete the zeros” and not a ”lop”.