Dinar Observer Daily

Paulette – Dinar Guru  Article: “Iraq faces some challenges in its path to joining the World Trade Organization”  It is clear based on this article that Iraq will not be voted today to be full members of the WTO…Iraq has a lot of work ahead of them.  To me, the WTO is totally irrelevant to what we seek.  Apples and oranges.  I hope we see the FULL RI process well before full accession to the WTO.

Mountain Goat – Dinar Guru   …This current Al-Sudani administration is now moving Iraq ahead, yes out of this past rut…It is right in our faces now…The train is racing down the track only to make the necessary stops along the way…It is a hard road for Iraq… There is work to be done…No more “guessing” or “hoping”. The reinstatement spigot is now wide open!  It is in our faces!…

Samson – Dinar Guru-  “Frustrating results from Iraqi Foreign Minister’s meeting with US Treasury regarding pressures on the Central Bank“

Pimpy – Dinar Guru I keep telling people, the WTO will talk about the Iraqi exchange rate but not in the sense that they’re forcing or telling Iraq they have to change their exchange rate.  That’s not what they do.  They just talk about trade and any hurdles that are between them and trade members.  They can point something out, they can make recommendations, but it’s not up the WTO when it comes to the exchange rate…I know people are telling you it’s going to be on July 18th they’re going to change the exchange rate.  No they’re not.

Militia Man -Dinar Guru  Today’s exchange rate at 1310 its reciprocal is about .0007633.  Drop those three zeros off an exchange rate and you have value to the currency.  It’s that simple.  It doesn’t make sense to anybody to print new currency as far back as 2018 with new small denominations to not have a reason for value.  It just doesn’t make sense to anybody especially when the United States is holding significant portion of Iraq dinar as are other coalition forces…All boats rise with the tide.

Fnu Lnu – Dinar Guru   [Response to Guru Henig post 3-16-2024 below] The taxation issue is not complex and I  have it directly from the taxing authority (IRS) and an agent within the IRS. The taxation will be a matter of choice (YOU DECIDE).  You may either pay tax as “REGULAR INCOME” or as Capital Gains. YOU CHOOSE! Depending on your structuring for tax  advantages…Regular Income is the easiest way to deal with the income/profits as it is amenable with classic Asset  Protection…The notion that you must have receipts is not true because you can choose Regular Income.  [Post 1 of 2….stay tuned]

Fnu Lnu – Dinar Guru   It is also not true that one must have a receipt or pay 40-50% in taxes. The tax code is  written for both kinds of people. Those who pay taxes and those who do not. Guess which side the rich are on? They use Asset  Protection…to defer and reduce…tax liabilities and anyone can do it…Do not be misled. Consult an ASSET PROTECTION ATTORNEY and forget the rest of what you hear and read.  [Post 2 of 2] [Consult your tax professionals and APA at the appropriate time to  build a tax strategy that’s right for your unique circumstances]

Sandy Ingram -Dinar Guru  A major financial change in Vietnam…Decree 52 regulates non-cash payment in Vietnam and will significantly alter Vietnam’s financial landscape...Decree 52 marks a significant milestone in Vietnam’s journey towards a cashless economy.  If you have VND bank notes you will need to find out how you can comply with Decree 52 as a foreigner.  [We] will research the topic and report back as soon as we understand the procedure.  According to the news report the banks have 24 months to comply…

Pimpy – Dinar Guru  It’s not the job of the World Trade Organization to handle Iraq’s currency exchange rate.  That’s not what they’re there for.   It’s called the World Trade Organization not the World Exchange Rate Organization.  

Mountain Goat – Dinar Guru  We heard this week that Al-Sudani again told the citizens that they can expect a “new currency” and so we know its not more of the 3 zero denominations since the CBI told us they are not going to issue the 20K note or any more other of these notes along this line.  So what could this mean? It can only mean fresh new notes of lower denominations reverting back to the currency denominations of the past and finally ditching these 3 zero notes… 

Samson – Dinar Guru  Article: “Minister of Trade arrives in Geneva to head the negotiating team for Iraq’s accession to the World Trade Organization“

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.]