Dinar Observer Daily

Samson – Dinar Guru   Article: “The International Monetary Fund praises the actions of the Iraqi Central Bank, the stability of the national currency, and the control of monetary inflation”

Clare – Dinar Guru Announcement:   “Declaration of function” quote:   “The Central Bank of Iraq announces the opening of contract employment for the position of cash examiner, provided that applicants for these positions are in accordance with the conditions stated later…”

Militia Man – Dinar Guru  They got it [the budget] done…What does it have to do?  It’s got to go to the Gazette…whether that’s going be on Wednesday which is 24 or 48 hours or is it going to be Saturday or will it go all the way out…15 days.  We’re going to find out.

Jeff – Dinar Guru   The budget got approved with the currency value at the Central Bank value of 1310 dinar per dollar.  That is not a rate change and no it can’t just magically float up 1 to 1 in the way it sits right now.  Remember the budget is a law…Changing the currency value would be a revision to the budget law.  It would have to be amended somewhere during the term of the budget year or they’d have to wait till the next budget period to change the rate.  That’s the scenario we’re in as of right now…There are some disagreements with the budget.   We need to give those disagreements a few days to play out to see if they’re going to…appeal the budget.

Pimpy – Dinar Guru   They just passed the budget and unfortunately they did not increase the exchange rate…There was no indication out there whatsoever that they were going to change the exchange rate…

Tishwash – Dinar Guru   Article:  “The House of Representatives sends the 2024 budget schedules to the Ministry of Justice – The Iraqi Facts” the schedules are on the way to the gazette

Samson – Dinar Guru  Article: “Finance Committee after voting on the budget tables: There is financial abundance for the governorates and ministries“

Mountain Goat – Dinar Guru    Article quote:  “The budget is not affected by the rise or decline in dollar exchange rates, because Iraq will receive the dollar from the export of oil, and on the contrary, revenues increase as dollar prices increase globally,”  The rate of the dollar to the dinar will NEVER be in the budget…NOT GOINGTO HAPPEN! …The budget is dependent on the price of oil.

Pimpy – Dinar Guru   Everything seems to be ending around 2025.  The tripartite budget will end by 2025, the United Nations Security Council mission to Iraq will end by then.  Also the end of 2025 is the projected end of the time for Saudi Arabia to end all their major projects that they got going on over there with those big lavish cities for the ultra rich to go hang out...

Samson – Dinar guru  Article:  “Al-Moussawi calls on Al-Sudani to end Washington’s control over the national economy and liberate the frozen funds“

Militia Man – Dinar Guru-  Article:   “The delete the Iraqi dinar zeros reoccurring invitation and existing challenges”  That was February 25, 2024.  It’s sill in the the news this year.  July 26, 2023 Al-Alaq said the project still existed... Quote: “When this is done correctly we can expect Iraq to become a strong dinar that is considered a store of value and perhaps even stronger than the dinar that was before 1980.”  That’s a pretty big deal…

Kaperoni – Dinar Guru    Article:   “Iraq welcomes UN Security Council’s decision to terminate UNAMI mission”  Quote: “On Friday, the Iraqi government welcomed the UN Security Council’s unanimous decision No. 2734 to end the mandate and mission of the United Nations Assistance Mission for Iraq (UNAMI) by December 31, 2025.”

Sandy Ingram – Dinar Guru   No one in the Middle East wants big daddy America to make Iraq wealthy. Oh, wait, Iraq is already wealthy.  It’s just a matter of maximizing, investing and building the infrastructure for long-term wealth…It’s only a matter of time before Iraq opens the gates to massive success

Pimpy – Dinar Guru   Article:  “UN Security Council extends mission in Iraq for last time”  The United Nations Security Council voted to end the Iraq mission by the end of next year, 2025.  The UN will not be babysitting Iraq anymore. That goes a long ways towards them establishing their sovereignty.

Clare – Dinar Guru  Article: “Al-Mandalawi after voting on the budget tables: Parliament will follow up on disbursing the specified financial amounts“.  The Acting Speaker of the House of Representatives, Mr. Mohsen Al-Mandalawi, congratulated the approval of the federal general budget schedules for the current year, stressing that the presidency made great efforts with the Parliamentary Finance Committee to expedite its completion and vote on it during the current legislative term, due to its importance in terms of its direct connection to the lives of citizens and its relevance. The document includes strategic, investment and service projects.”

Samson – Dinar Guru  Article:  “Sudanese Advisor: Ending the UNAMI mission represents a ‘historic achievement’ for Iraq“

Clare – Dinar Guru  Article: “Parliamentary Finance for Nina: We approved the budget schedules as received from the government, except for the governorate allocations.“  Quote:   “The Parliamentary Finance Committee announced that the schedules of the general budget law will be passed as soon as a quorum is reached in the House of Representatives session scheduled to be held this evening, Monday.”

Mountain Goat – Dinar Guru   “The head of the Iraqi Private Banks Association, Wadih Al-Handal, confirmed…the effort to open more prospects for work with correspondent banks, while indicating that the joint committee with the American side regarding the banking sector will begin its work next week.”   Folks this is all positive news and exactly what we should expect to see at this point in time. Yes, it is now all about the Banking Reforms. This is what is going to get the dinar to officially pass the dollar. We already know the value is greater and so now we just need to go through the motions to get it recognized to its true value.

Militia Man – Dinar Guru   Article: “Parliamentary Finance resumes its meetings regarding the budget in preparation for voting on the schedules”  Quote: “Parliament decided, according to the agenda, to hold its twenty-seventh regular session next Monday...”   I am not sure how long voting will take on the paragraph. But, if they are going to vote to do a budget at 1310 that would have a deficit of 64 trillion that would not be good for the people and they want to see another term in office they’ll need the 3 zeros to be removed from the exchange rate. If there isn’t a removal by Al-alaq they’ll be in a pickle be sure.

Nader – Dinar Guru  ‘Nader you said it was going to happen in June.’  No I didn’t say in June happen.  I said June they’re a possibility for them to work on the dinar because each time they worked on him it’s between June and August…They created a new white paper.  They’re going to start working on the exchange rate and I think from here to the 8th of July.  We’ll see what’s going to happen.

Militia Man – Dinar Guru  That vote is prior to markets opening in the United States in New York.  Will they vote?  Will they do it?  We’re going to find out

Pimpy – Dinar Guru  Article:  “The document..The House of Representatives votes next Monday on the budget schedules“  Finally after all this time.  There was a huge delay.

Militia Man – Dinar Guru  The totality of the Development Road Project, 1310 is not going to work.  They just don’t have enough money printed, period.  They just don’t.  We’re going to have to see how all that ties in with the budget because one of the things that’s still on the table is the Delete The Zeros Project.  If that’s the case trillions turns into billions quite quickly…If they do what they say they’re going to do it becomes far far cheaper.

Samson – Dinar Guru Article “Iran: Iraq is one of the richest countries in the Middle East”

Pimpy – Dinar Guru  I don’t think it’s going to RI but it definitely will revalue, without a doubt it’s not going to be reinstated.

Militia Man – Dinar Guru  The House of Representatives will vote next Monday on the budge schedules…We’ve been waiting for it… Is it important?  Is it not important?  Obviously it’s a focus.   Article Quote: “Mustafa … announced the House of Representatives intends to vote on the financial budget tables for the year of 2024…It will be held at 3:00 in the afternoon on Monday.” 

Samson – Dinar Guru    Article:   “The Finance Committee confirms the approaching end of its work on the budget tables: We are ready for Monday’s session”  House of Representatives are under the gun – Monday 3:00 PM Baghdad Scheduled for a Vote.

Clare – Dinar Guru Article: “Parliamentary Finance confirms the readiness of the budget tables for voting in Monday’s session“

Tishwash – Dinar Guru  Article:  Quote:  “...Iraq is considered one of the richest countries in the Middle East, in that it possesses 85 billion dollars in foreign exchange reserves, 130 tons of gold reserves and 147 billion reserves, confirmed from a barrel of crude oil (ranked fourth in the world), explaining that it achieved from selling crude oil an income equivalent to $76 billion in 2021, and $120 billion in 2022.“

Dinar Investor – Jeff   I’ve seen quite a few different investors out there that are super excited that Iraq was going to be approving their budget within parliament Monday…That’s a huge misunderstanding on your part if you’re excited…The budgets are calculated off the value of the currency.  When a budget is implemented or while the budget is implemented the rate cannot change…If this budget got approved Monday, the next time they could change the currency…rate, they would have to wait until mid-year (September or October) or a new budget period of 2025 (March to April)…Once this budget gets approved, that’s the currency value that’s locked in it…It can’t be magically changed…It doesn’t work that way.