Dinar Observer Daily

Militia Man – Dinar Guru  The optics are great for the country because they have all three presidencies in place at this stage.  You’re going to see some of the language that’s going to be used by one of the presidents, now there’s three…The new guys has already done a good job.  He knows the ropes…His past history dates back a long time…2003/2004 in  that ear…  It’s over, the country has a new Speaker of the House of Representatives.  Congratulations to the legitimacy of the government.

Mountain Goat – Dinar Guru   In an article…“AL-SUDANI SUMMARIZES HIS GOVERNMENT’S ACHIEVEMENTS TWO YEARS AFTER ITS FORMATION“ …in the two decades of following this RV saga, I have never seen such a progressive prime minister. He is hitting all the reforms we should and are expecting…the currency reform. He has told the population many times already to expect it and its coming soon.

Samson – Dinar Guru  Article: “Central Bank Governor: Foreign reserves exceed 140% of local currency issued“

Mountain Goat – Dinar Guru  There is NOT going to any “big lines” or celebrations in Iraq when they revalue in country. The only thing that will happen is that they will go on with life and know they have more purchasing power, but only after the reinstatement  happens…They are catching up to the rest of the developed world. Also, you must remember too that the government along with the CBI is constantly now telling the citizens they are going to raise the value of the dinar to the “glory days” of the dinar. [Post 1 of 2….stay tuned]

Mountain Goat – Dinar Guru   …the CBI is now also broadcasting the videos they produced by the committee, in which my CBI contact told me earlier this year, were being produced and ready for showing, but back then we were told – not yet. Now they are being shown to the public. Yes, it is time and so yet another clue things are close…If you talk to almost any citizens now in Iraq, they will tell you that they expect this event to happen soon.    [Post 2 of 2]

Pimpy – Dinar Guru  This is my one and only concern.  We got freaking elections coming up again.  I’m hoping Al- Sudani is out there making his pitch for people to keep him…Sudani has been doing so much changes/reforms making huge change and doing a lot of great things for the Iraq people against the will of the Coordinating Framework.  They’ve been bumping heads.

Mountain Goat – Dinar Guru  Remember about the Cash Center that recently opened to receive the stashes and hordes of dinars. The first point is these were dinars NOT dollars…These are NOT exchange centers. They are simply depositing their hoards of dinars in the bank and putting them into electronic form…They are staying in dinars, NOT U.S. dollars… these centers  show us some success of just the beginning stages of the process to delete the zeros. This is part of the process is to collect  these stashes of notes. These are not only needed for liquidity in the banks but also to coincide with the shrinking of the monetary mass that is needed to raise the rate of the dinar, when they do pull the trigger on the higher “official” CBI rate in- country.

Clare – Dinar Guru  Article: “What does the closure of the Central Bank platform at the end of the year mean? The Association of Banks explains”  Quote: “…closing the electronic platform…will not affect businessmen and the market...as they will quickly adapt and the market will return to normal, and the foreign trade process will be enhanced through correspondent  accounts…Iraq has 6 banks that have American correspondent banks, and 15 banks that have correspondent accounts with other countries to deal in different currencies.“

Militia Man – Dinar Guru  The black market is having pressure put on it now and it’s going to cease in the near future.  They said by the end of the year.  The dollar auctions will be gone anyway.  But between now and then they’ve reduced it.  Well over 95% of all transactions are done outside of the black market...The black market is relatively insignificant but it’s still affecting the citizens. 

Militia Man of Iraq decided to reduce the internet rate and activate securities…Analysts expect an increase in reliance on the Iraqi dinar as a base currency...It’s expected the activation of a new dinar instrument will contribute to enhancing local liquidity…”  A base currency is going to make you guys really excited.  What is a base currency?  Base currency is the first currency in a pair of currencies being traded in the Forex Exchange Market.  The second currency is called the quote or counter currency …They’re talking about it’s not the US dollar that the base currency.  It’s going to be the Iraqi dinar…I’m really pumped and excited…!  If that doesn’t tell you these guys are gearing to go international I don’t know what does… Powerful information!

Mountain Goat- Dinar Guru   Article:  “REMOVING ZEROS AND REVALUING THE IRAQI DINAR”  Yet another article on removing the zeros? We must be getting very close.

Militia Man – Dinar Guru  You haven’t seen the investment side of the 2024 budget.  That’s where everybody should be paying attention.  If you own dinar you should be paying attention…They haven’t exposed the 2024 investment side of the budget.  Why?  In my view it’s exchange rate oriented… They need the exchange rate so they have the final accounts…

Clare – Dinar Guru  Article: “Planning: Census operations will continue for two weeks starting from November 20”  Quote: “The Ministry of Planning confirmed today, Friday, that the date for conducting the census on November 20 is fixed and unchanged, while it indicated that its operations will continue for two weeks until December 3, 2024.”

Samson – Dinar Guru Article: “Financial expert to Nina: Iraq must take several steps to transform its economy from a rentier to a multi-revenue economy“

Nader – Dinar Guru  Let me tell you something about trading the dinar – We already start trading the dinar with other countries.  Now I can take the dinar to anywhere in the Middle East or North Africa and exchange it.  In American, Canada Australia, Europe I cannot yet.

Pimpy – Dinar Guru   With all the gold and all the foreign reserve assets have been built up, they’re able to protect the dinar value which is a huge step for Iraq.  Which is what any investor coming into Iraq wants to know.  They’re worried about fluctuations in the exchange rate and now Iraq gets to say, look we got 150 tons of gold we got $115 billion in foreign reserve currencies.  They have the ability of protecting the Iraqi dinar from any crazy fluctuations or any kind of speculation attack against Iraqi dinar.

Mountain Goat – Dinar Guru   …the agreements and paperwork are all nearly completed to set the reinstatement in motion. But…we know this is not going to happen until the CBI is ready.  The CBI is not ready until they first secure the banks, the stock market, provide security (insurance) and then begin rebuilding the economy…I must mention this too as it is a factor. They will not be ready until the US Treasury and the Federal Reserve gives them the green light.

Clare – Dinar Guru  Article: “Al-Sari: The population census guarantees fair distribution of wealth and parliamentary representation of the governorates”

Pimpy – Dinar Guru  The deletion of the zeros…if they do it that way [zeros dropped BEFORE the rate change] it’s going to be the redenomination.  They’re going to announce a new type of currency, new bank notes without the zeros on there before they make the change in the exchange rate.  If it happens that way.  We all have the same dinars.  We’re all crossing our fingers and hoping the exchange rate takes place first before any type of redenomination.

Samson – Dinar Guru   Article:   ” ‘International Reconstruction’ reveals the completion of the first designs for the Iraqi Development Road Project”

Clare – Dinar Guru  Article: ” ‘Hybrid Monetary Policy’.. Al-Sudani’s Advisor Reveals the Central Bank’s New Step”   Quote:  “The Central Bank began…on October 24, to reduce the monetary policy interest rate…by about 200 percentage points, by lowering the interest at which the Central Bank deals with banks from 7.5% to 5.5%, which means…an expansionary policy in targeting the money supply...Despite the above…new policy did not neglect the importance of continuing to control local liquidity levels and carrying out high sterilization operations, by offering debt instruments called Islamic certificates of deposit…which are considered sovereign debts that can be mortgaged or discounted in the secondary market and are excellent debts…with a return of 4% for a period of 14 days and a return of 5.5% for a period of 182 days.“

Nader – Dinar Guru  Now we can pay with the Iraqi dinar anywhere in the world.  From Iraq I can pay people over here [United States]…For now it’s 1310 but I can send you $500.  I’m talking about business, I’m not talking about person to person.  I’m talking about business.  Before we’re not allowed to do that…

Mountain Goat – Dinar Guru   We have been…told by my CBI contact on the committee that we should expect to see the ramped-up Project to Delete the Zeros sometime soon after the U.S. election period is over sometime in November. This period of time through December will begin the process for the swap out with the newer lower denominations. To me this also means about a 1:1 at par rate of the IQD with the US dollar. But remember this is IN-COUNTRY only. Also remember these actions ALWAYS have dependencies. Nothing is a guarantee! I want to make this VERY CLEAR to you today.  [Post 1 of 2….stay tuned]

Mountain Goat – Dinar Guru  …the media is constantly broadcasting commercials about how the swap out will work.  Then the news media from Iraq tells us about the “cash center” that recently opened in Karkh. It is used solely for the intake of the three zero dinar notes or dollars. Folks they are already sucking in the three zero notes…So in reality, unofficially, the process of deleting the zeros has already begun. Yes, it is underway according to my CBI contact.  [post 2 of 2]

Pimpy – Dinar Guru   [Lifting restrictions on currency exchange in Iraq]   You understand if they lift these restriction they’re talking about the amount of liquidity that’s going to come into Iraq?  Liquidity has always been an issue for them but now this would be a big deal for them.  This would be huge.  A lot of liquidity would come into Iraq.  It’ll really strengthen the Iraqi dinar.  I mean hardcore.

Pimpy – Dinar Guru  Iraq without a doubt is trudging forward but now here we go.  We go election season coming up.  We really have to cross our fingers and see what happens because the people that get in office really do make a huge difference on what’s going to happen in the future.

Samson – Dinar Guru   Article:  “Calls to accelerate 2025 budget and boost non-oil revenues“

Clare – Dinar Guru   Article: “The Central Bank of Iraq decides to reduce interest to 5.5% in order to support economic growth”  Quote: “The Central Bank of Iraq decided to reduce the interest rate from 7.5% to 5.5%, after the inflation rate decreased in Iraq“

Pimpy – Dinar Guru   [Reference Guru Nader post below]   It [The dinar on Forex] went from 1320 to 745 for every dollar so that’s 54% increase in value.  Woo!  Man that’s really good.  It’s not where everybody  wants to be but still a nice jump in value.  It’s looking good.  I really think it’s looking good.  I just try to keep people grounded…There is weird activity.  Nobody really knows what it means but that is one hell of a jump, a 54% increase in value…I don’t know what’s going on…It is exciting because this is right on the heels of the information…that they’re lifting restrictions [on foreign exchange in Iraq] and then all of a sudden this happens.  This is like one day apart…All of a sudden next day there’s a spike.  Could be something, could be nothing…Everybody knows it’s close so it’s hard not to get excited.

Militia Man – Dinar Guru  Article says, “Why is the US dollar exchange rate fluctuating?  [Central Bank advisor] says most traders who obtain the US dollar at the official price from the central bank, they sell their goods at the black market price as well as the lack of global correspondent banks…”  The black market becomes part of the issue…The black market harms the economy.