Dinar Observer Daily

Pimpy – Dinar Guru  Let’s go ahead and address a rumor that’s going around…the exchange rate is going to be $28 to 1…When I heard that I damn near fell out of my chair…There’s so many people kind of getting excited about…going is this real?  You should ask yourself which currency out there currently is the most valuable?  That’d be the Kuwaiti dinar…I don’t think it’s $3.22…You think it’s [the Iraqi dinar] is going to come out with an exchange rate of $28 to 1?  Yikes.

Clare – Dinar Guru   Article:  “Iraq bids farewell to the list of high-risk countries”   Quote:  “Observers and specialists in political affairs expressed their optimism about Iraq’s exit from the list of ‘high-risk countries’ that was officially announced by the International Task Force (FATF) last week, noting that the international declaration represents an important step in the correct path that the Sudanese government is taking in achieving reforms.  Financial and economic along with political stability.“

Samson – Dinar Guru  Article: “Including transfers and attracting investors.. The Supreme Judiciary determines the advantages of removing Iraq from the gray list”  Quote: “The Supreme Judicial Council identified the advantages of removing Iraq from the list of high-risk countries…”

Militia Man – Dinar Guru  You kind of need the IMF article VIII compliance and that’s what we’re waiting for which is a real effective exchange rate.  I think these guys are about ready to expose that.  I think al-Sudani…Alaq from the Central Bank of Iraq all of them have this in their eyes to see this come to fruition and very quickly…

Jeff – Dinar Guru  At this time the budget is not published in the Gazette.  The budget has not been implemented because it can’t be implemented until the court finishes their appeals on it.  

Mountain Goat – Dinar Guru  Iraq…when ready, they will drop the three zeros and give the citizens so many days to turn them in the old three zero notes for exchange of the new lower currency denominations. This exchange will most likely be electronic. It will be a 1:1 exchange but not like many think…I DO NOT mean one dollar for one dinar. I mean, for instance, a 25k note for a new 25 note. This is the 1:1 the CBI has talked about many times. Yes, the dinar may revalue first in-country to just over a dollar, but this is still not what the CBI meant by 1:1 in the past…the VALUE of the dinar has always been there…only when they drop the three zeros it becomes more manageable and nominal. The VALUE is still the same.

Kaperoni – Dinar Guru  It’s already stated Iraq plans to end the currency auctions by the end of 2024…In several articles…they also mentioned that Iraqi banks will have to establish banking relationships with the global and regional banking sector. This can only happen if Iraq accepts IMF Article VIII.

Pimpy – Dinar Guru   [Reaction to Iraq Update Video below] Pay attention, this is the youth of Iraq.  They’re very very hopeful.  Like I said before, even if they delete the zeros that doesn’t mean all is lost.  If you really believe Iraq’s currency is going to be the strongest in the world, if you believe they’re going to have one of the best economies in the world then just hold on to the currency.  These are people who live over there.  They’re telling you for the next 20 years Iraq is going to be booming.  And I’m not talking about conflict, I’m talking about the economy.

Clare – Dinar Guru  Question:   “Wonder if the budget made it into the Gazette?”  NO IT WAS NOT IN THE GAZETTE TODAY [Saturday].

Militia Man – Dinar Guru   Anybody going with Sudani is going against the mafias and going against those that are going to have their dollar auctions dry up.  They’re going to have lots of different little things happen to them that are going to be painful.  Anybody that’s holding the dollar when they change the exchange rate…those exchange companies, 197 banks that got tagged by the central bank…they’re going to have a painful experience because if you’re not large on the dinar and you own dollars and Alaq drops the three zeros, those guys are going to have a painful situation… They’ve been warned.  They’ve been open about stopping the dollar auctions in Iraq for this year…

Mountain Goat – Dinar Guru  The electronic systems are taking hold…This will allow the shrinkage/withdrawal of the tangible currency notes from the market that is needed in the process to Delete the Zeros…a critical part of it...I can remember hearing as far back as 2010 from Dr Shabibi the importance of the electronic banking effort and its advantages to the process. Yes, they MUST shrink down the currency mass…if you shrink down the monetary mass than what is left will be worth more.

Pimpy – Dinar Guru  My question is whether or not Iraq is going re-denominate the Iraqi dinar because then [if they  re-denominate] the Iraqi dinar isn’t going to create a lot of millionaires.  I’m hoping that they’ll change the exchange rate and  leave those zeros right where they are…

Clare – Dinar Guru  Article: “Trade announces the opening of the new Iraqi Commercial Attaché headquarters in Washington”

Jeff – Dinar Guru  Article:  “The Iraqi Communist Party marks a constitutional violation by approving the 2024 budget schedules”  Quote:  “The Political Bureau of the Iraqi Communist Party confirmed…voting on the budget tables before approving the final accounts represents a violation of the constitution.“  There were about four articles that come out – Iraq’s 2024 budget actually got appealed.  It’s unconstitutional…Next week the court may be announcing a ruling to overturn the budget because it’s unconstitutional…That’s going to have a huge impact on the investment…

Breitling – Dinar Guru I have an average at where I think it’s going to revalue at, $0.51 or $0.52 cents.  I could be wrong.  It’s not like Abraham Lincoln said that or something.  It was an average.  That’s why I got into the dinar. That’s where I seen the value.

Militia Man – Dinar Guru   Article: “News publishes the text of the third strategic plan of the Central Bank of Iraq”  Here’s the powerful stuff.  Quote: “…ability to issue medium or long-term securities, the transition from the platform to the banks…the increase of gold reserves, the introduction of new issuance of the high quality currency, the automation of monetary process…”  This speech that Alaq has done will be one to remember…He will be likely showing us something very soon…For Allaq to be talking about the issuance of a new high quality currency is awesome!  It’s huge.  Especially when he uses the word ‘issuance’.  It means it’s coming or it’s about to be released…It’s phenomenal.  It’s looking very good.  It sounds like they’re about to issue new money. 

Samson – Dinar Guru  Article:  “A parliamentarian challenges the budget schedules before the Federal Court.. Document”

Clare – Dinar Guru  BUDGET SCHEDULES WERE NOT PUBLISHED TODAY [Wednesday].  THE GAZETTE  COMES OUT ON WEDNESDAYS & SATURDAYS.

CharlieOK – Dinar Guru   It would be very hard to have a “contract” if you don’t know what you are going to be paid.  More than likely, the companies with the “contracts” already know what the rate is. The “contract” would have to be subject to an agreed rate certain, in order to be able to agree to an amount they will agree to be paid in consideration of their services.

Pimpy – Dinar Guru  Nothing would make me happier than to wake up in the morning and seeing for surely they increased  the exchange rate…There’s no more talk about the deletion of the zeros, which is good.  We don’t want them to delete the zeros.   If they’re going to make a change to the exchange rate, we want them to keep the currency we currency have.  I don’t care what them  other jokers tell you, it’s not going to be just off the exchange rate, it’s going to come off the currency.  We don’t want a  LOP…We want them to change the exchange rate for the better without removing the zero.  That’s what we want.

Kaperoni – Dinar Guru  Article: “Specialists identify a number of factors to end sanctions on Iraqi banks”  

Militia Man – Dinar Guru  If all you [Iraqi citizen] own is dollars and they change the value to a real effective exchange rate, back to where it was in the previous era, they say back to 1980…Sudani said the dollar is going to be weaker or he  said it in a way that the dinar is going to be stronger than the dollar...That’s the whole goal.  You drop the three zeros from the  currency, you’re going to add value.  That’s all there is to it.  That’s how it works.  That’s just not my opinion as far as I’m  concerned.

Jeff – Dinar Guru  There’s many disagreements with the budget, possibly causing it to be overturned via a court appeal…The actions of what was done with the budget was against what they were allowed to do so the legal system might be overturning the budget’s approval…The House of Representatives…went beyond what they’re allowed to do.  The fact that they approved the budget unlawfully might be getting overturned…The budget might get squashed…

Nadar – Dinar Guru  The UN agreement, 2003 when they invaded the country, now they said the last day is next year 2025.  They been talking about the end of the war and this is one of them.  That is very good news.  We talk about sovereignty, that’s one of them.  It’s good for Iraq.  It’s going to make Iraq stronger and happier…Sudani what he’s talking about the coalition gonna leave in 2025…it’s official.

Pimpy – Dinar Guru  Iraq is on the verge of getting their full sovereignty which is awesome for Iraq and a huge step in going in the right direction.  Article “Al-Aboudi: The decision to end the UNAMI mission in Iraq is a major step for full sovereignty“

Jeff – Dinar Guru  The budget is unconstitutional and appeals have already been filed with the court.  The court is going to step in, it’s going to be overturned.

Mountain Goat – Dinar Guru  This month I believe is going to be a critical month for us investors…  Article:  “CENTRAL BANK: THE ISSUANCE OF NEW MONETARY DENOMINATIONS WILL NOT AFFECT THE DINAR EXCHANGE RATE”  I would consider this “WOW!” news.  Quote:  “… the issuance of new cash denominations, large or small, will not affect the dinar exchange rate.”   If the CBI drops the zeros (project to delete the zeros) the rate of the dinar will remain the same in-country of Iraq.  It only changes when the reinstatement back to FOREX occurs…the value is already in the dinar… only the rate, right now, does not reflect the true rate… Why…on May 27th did the CBI make this announcement about the issuance   of newer lower denominations?   Could they be heading into June for the redenomination of the three zero notes?

Clare – Dinar Guru   Article:   “PaPrliament sends budget schedules to the Ministry of Justice… for this reason”  Quote: “Today, Tuesday, the Presidency of the House of Representatives sent the 2024 budget tables to the Ministry of Justice for publication in the Al-Waqe’at newspaper.”    The Al-Waqe’at newspaper – IS THE GAZETTE.

Militia Man – Dinar Guru  Article quote: “What is the impact of the use of electronic payments on the Iraqi dinar?   The electronic payment process will contribute to the government in withdrawing the cash mass available to the public.”  It’s in black and white…This isn’t something that’s new.  This was February 25th…They’ve been working on this for quite some time…1.6 trillion is a big deal.  It’s an affirmation they have been on track to do what? ...reduce the note counts.  They’ve done that.

Pimpy – Dinar Guru   Deletion of the zeros is a redenomination.  Iraq is not positioned to do a redenomination.  That means you have to create all new bill.  I know they keep telling you guys it’s only coming off the exchange rate but they’re wrong…There’s no increase in the exchange rate.  I was hoping things will start going up in increments by now but that’s not even moving, not yet anyway.