Dinar Observer Daily

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.

Pimpy – Dinar Guru  The IQD is not officially trading on the Forex right now because it’s part of their punishment, but it’s listed there because they had a pairing at one time just like the [Venezuela] Bolivar…Once they’ve been paired before, even though they’re in trouble and they might not be officially trading on the Forex, they’re still listed as trading 1 to 1.  That doesn’t mean that’s what’s happening, it’s like a placeholder.  Think of it as a book-marker. They’re not officially trading at 1 to 1…A book-marker, that’s all it is…When the time comes and they start trading on the Forex again…they’re already set up and can start trading right away.  That’s the same with all currency exchange websites.

Newshound Guru Militia Man  The Central Bank…is probably telling people [exchange companies], if you don’t do this [play by the rules] you’re going to have a big problem…Those 1200 entities that were talking about going on strike got a reality check.  Because could you imagine holding massive amounts of US dollars when you could be holding dinar and they change the value of the currency to show their purchasing power when they drop the three zeros?  It’s going to bring value.  It’s not a lop like a lot of people keep thinking…It doesn’t bring any value.  A lop is like a reverse split…It’s silly.

Mountain Goat – Dinar Guru   …two main issues concerning the monetary policy…The first issue is about the cash outside of the banking system…that the percentage of cash outside the banking system reached 91%… they already told us they have plan to retrieve this money… as investors in the dinar…part of the 91% also includes our dinars. They told us this money is desperately needed in the banks…But how will they get ours, as investors? So, the answer is…the CBI will have to revalue the dinar enough to a significant level to get us foreign investors to run to the bank and turn it in.    Within Iraq, however it is much different and they only need to overcome the parallel market rate of the dollar and these notes will come flowing back in to the banks. This is also when they can begin the swap out to the newer lower denominations…  [Post 1 of 2….stay tuned]

Mountain Goat – Dinar Guru  The second is the reluctance of the US to allow the currency reform process to move ahead as the 3rd phase of the strategic plan calls for and is supposed to have already begun. But can it really begin without this measure? It is already a week into July and still the US has not given its confirmation as to the support they will give for this next part of the phase…there is not really much going on in the currency reform process…to indicate that the 3rd phase is started…One solution, as we learned, was for the three letter agencies to open the spigot and pour out the very good news about Iraq’s stability. Folks they are prepping for something really big in the very near future. They are trying to kickstart this 3rd phase of the strategic plan…  [Post 2 of 2]

Militia Man – Dinar Guru  Probably shortly you’ll find that Iraq is going to do something with their exchange rate to be IMO an IMF Article VIII complaint exchange rate that will be openly traded on Forex...

Sandy Ingram – Dinar Guru  The IQD Wait: What’s Taking So Long? The 2003 Invasion, ISIS, and the Pandemic have all contributed to the delay in the Iraqi Dinar’s increasing value. Iraq’s economy got into trouble during the Iran-Iraq eight-year war and has been struggling ever since.

Nader  – Dinar Guru  Lots of things happening…I see good news coming up this week so stay tuned...What’s happening now it’s good.  I can say we are very close.

Pimpy – Dinar Guru  The IMF can’t force countries to do a specific exchange rate.  They can have input.  They can talk to a county about their exchange rate but each country is sovereign.  They’re independent.  No organization, whether it’s IMF, World Bank, WTO, can force a country to use a certain exchange rate...

Clare – Dinar Guru  Article: “Airlines set date to resume flights between Baghdad and Moscow”

Samson – Dinar Guru  Article: ”91% of the Iraqi currency is outside the banking system”  Quote:  “Economist Munar Al-Obaidi announced that the money supply rose to more than 102 trillion dinars until last June.”

Militia Man – Dinar Guru  I think when they say, “Whose operations are constantly expanding in favor of dealing at the fixed official exchange rate“, is an argument suggesting that instead of being a floating currency…they’re leaning towards a fixed official exchange rate for some time...

Sandy Ingram – Dinar Guru  The dollar has gained over the dong 4.31% since the beginning of 2024.

Pimpy – Dinar Guru  Be careful of the hopium.  I said this and I’ll say it again, the value of the Iraqi dinar will increase but there’s a possibility it might not happen the way you’re being told…

Militia Man – Dinar Guru  Iraq has been and is seeking to join the World Trade Organization…Iraq is promoting self-sufficiency.  Why?  Because they have all kinds of assets.  They have inputs and outputs.  They have so many natural resources that they’re going to be able to make things, to be able to have excess…There’s a working party on accession of Iraq [into the WTO] on the 18th of July.  That’s important.

Clare – Dinar Guru  Article: “Iraq is the fifth largest economy in the Arab world and the 52nd largest economy in the world” Quote: “The magazine indicated that Iraq ranks fifth in the Arab world after Saudi Arabia, the Emirates, Egypt and Algeria.” 

Sandy Ingram – Dinar Guru  Iraq has the the largest foreign currency in the country’s history.  I has also amassed a small fortune in gold and made significant strides in developing the country.

Pimpy – Dinar Guru  Community Comment:  “The CBI is going to wait until they’re forced to increase their purchasing power.”  No.  The CBI is going to wait until it’s necessary to increase the exchange rate.  Just because everybody out here that owns Iraqi dinar feels like it should be done and they want it done today doesn’t mean it’s going to happen.  They have to do what’s right for the Iraqi people.

Militia Man – Dinar Guru  Article quote: “The fixed exchange rate system in Iraq is based on an international reserves base is the highest in the history of Iraq…Foreign currency covers more than 100% of the total currency issued.”  Even the trillions, they have enough reserves to do that.  In other words if they change the exchange rate to something that’s strong, that reflects the true fundamentals of the country, they shouldn’t have any problem.  Their model is stable, secure…very little inflation.  They’ve been successful doing this model…

Pimpy – Dinar Guru  Question:  “Can someone please explain why Pimpy is in this?  Does he or does he not believe in the RV?  I’m Pimpy and I can answer that question.  Do I believe the Iraqi dinar can revalue?  Yes.  I’m in this because I think the Iraqi dinar will revalue.  As a matter of fact it’s revealed a few times…