Dinar Observer Daily

Clare – Dinar Guru  Article: “Tracy Jacobson: I will advance American interests and fight militia influence in Iraq”  Quote:  “Tracy Jacobson, US President Joe Biden’s nominee for the position of US Ambassador to Iraq, gave her opening remarks before the Senate Committee on Foreign Relations.”

Pimpy – Dinar Guru  Article: “Iraq is preparing to establish a project that changes the oil map”.   Does it affect energy producers?  Oh, it’s going to change the map alright!  If they can accomplish this, this is really going to be huge…

Samson – Dinar Guru  Article: “Early elections in Iraq.. Prime Minister stimulates Al-Maliki’s appetite for a third term“

Mountain Goat – Dinar Guru   …the economic and financial advisor to the Prime Minister, Mazhar Muhammad Saleh, proposed an “unusual” idea to establish a sovereign wealth fund. …Unlike the CBI reserves that are mandated by the IMF to cover the government expenses in time of emergencies, the SWF is more flexible and gives an additional pad of money for stability and security. This fund will also cut down the reliance  on oil revenue and help them move more quickly out of the rentier economy.  WOW!

Kaperoni – Dinar Guru For the past 2 to 3 years now Iraq has been trying to diversify their economy so that they are not totally dependent on oil. Although there has been progress, technically they still have at least 85% dependence on oil exports.

Paulette – Dinar Guru  Community Reminder [“He pointed out that the new currency entry does not mean the destruction of ancient coins, but will continue to trade for about ten years, pointing out that this period will enable the central bank to withdraw the old currency in accordance with the dynamics and mechanics in order to preserve liquidity In the market” This 2016 article says.They will coexist with 10 years.]  Exactly! And, this was further clarified that active trading in the Market Place will be upwards of two years while through the banks it would be at least 10…This is what I believe will be told to the citizens when they bring out the Fils and lower notes…IMSO, it won’t be a week or 90 days or even 180…Nor will they be cancelling the 3-Zero series for at least 10 years…They are currently following the Dr S plan to a “T”…

Pimpy – Dinar Guru  If there’s an exchange process all banks that are dealing in currency exchanges will be involved.  All you have to do is find your local bank that buys and sells foreign currency and just wait for the restrictions to be removed off the Iraqi dinar and once they change the exchange rate you can just walk your butt right on in there.  There is no special 800 number for that.  You can just go to your local bank and find out where the nearest bank is that deals with foreign currencies.

Nader From The Mid East – Dinar Guru   Article:   “Iraq Bulks Up Gold Reserves, Inch Up World  Rankings”  Quote:  “Their holdings have grown to 145.7 tons, a bump of over 3 tons compared to 142.6 tons the previous month.  This increase…is enough to nudge Iraq one spot higher in the WGC’s global ranking, landing them 31st place out of 100 countries.”

Sandy Ingram – Dinar Guru   Some of you appear to have lost faith…We know Iraq will thrive if there are no full – blown wars and even then the oil revenue would continue to go up.  No one is giving up on Iraq.

Clare – Dinar Guru  Question: “Since Iraq is removing the zero’s in-country then giving its citizens new currency at  an increased rate (greater than $1.00), will they remove the zero’s out of country (for us) before we can exchange? Will our 25K  notes become the equivalent of the new 25 dinar note then get its new value from Forex or will we get the Forex value for the  entire 25k note?”  WE WILL GET THE FOREX RATE FOR THE ENTIRE 25K NOTE. imo

Militia Man – Dinar Guru   If they have a real effective exchange rate like al-Sudani said, that the dinar is going to be stronger than the dollar, the parallel market goes away…Obviously the stronger the currency is the cheaper it is for Iraq to do what they need to do.  It’s a no-brainer.  It’s that simple.

Clare – Dinar Guru  Article: “Withdrawing has become easier.. Al-Rafidain begins deploying ATM machines in institutions and malls”  Quote:  “Al-Rafidain Bank begins deploying ATM machines in its main branches, and then institutions, commercial areas, and malls, respectively, in implementation of its strategic objectives”

Samson – Dinar Guru   Article:   “Rafidain Bank begins deploying ATM machines in its main branches”

Mountain Goat – Dinar Guru    …Just look at all the progress made just since December 2022 when Iraq announced they were finally entirely out of Chapter VII. And now the spigot is wide open…the final issues preventing the reinstatement are being dealt with one by one…my contact in the CBI told me there is a very high probability that we would see the currency swap out in this month of June and so we watch and wait.

Kaperoni – Dinar Guru   Floating the currency is the best option but only once they have created a diverse economy that is not dependent solely on oil.

Militia Man – Dinar Guru   The black market is going to exist if the United States dollar is less than the Iraqi dinar…There’s not much demand for the dollar now…They’ve got it under control.  Is it showtime? I sure hope so.

Pimpy – Dinar Guru  Article:  “Oil slides to four-month lows as OPEC+ deepens bearish sentiment”  If oil prices continue to fall, where is the incentive for Iraq to increase their exchange rate?

Mountain Goat – Dinar Guru  …Iraq’s exit from the list of “high-risk countries” …was officially announced by the International Task Force (FATF) last week. Yes, “the writing is on the wall” now as this is the BEST news…Iraq’s exit from the list of high-risk countries could not get any better. They are slowly clearing the way to the reinstatement, one obstacle at a time…They were not about to release the currency back to FOREX with this in place…WOW! WOW! WOW! news for us today

Buckeyetree – Guest Guru  Iraq continues to transform into the modern era with banking and now fiber optics. With security and stability and safety (banking laws against terrorism and corruption), investors / companies will find a good environment to do business...Praying with the blessings to be realized that this will be in the coming “days” or sooner.  Big plans for an improved Iraq and for ministries.

Clare – Dinar Guru   Article:   “Kuwait connects its “Fiber” network to Iraq”  Quote:  “Iraq will be a major corridor for passing the network, not only in the Gulf.  But for the countries of East Asia, it will be synonymous with the Egyptian corridor…Iraq has become the focus of attention of countries and major international companies due to the incidents that took place in the Red Sea and the fear of the cessation of communications through this corridor.”

Mike Bara – Guest Guru   I want to say that this is not a rumor. I am not passing on a rumor…I know a guy…he got a call from a High corporate banking official from a major bank. And he said “You know that thing you have been bugging me about for the last 10 years?” (and we all know what it is – it’s the RV) And the banker said “Well congratulations buddy- your dreams are about to come true!”…And the banker said  “We just got a memo today, a letter from headquarters informing us to Get Ready Right Now because the Iraqi dinar is revaluating extremely soon. Boom…  I don’t know how to evaluate the term “really soon” except to say I think it means in the next 2 or 3 days. We don’t know but, that’s what I think it means.

Clare – Dinar Guru  Article:  “Parliamentary Committee: The investment law will see the light soon”  Quote:  “Member of the Investment and Development Committee, Muhammad Al-Zayadi, confirmed…the next legislative term will witness amendments to the investment law.“

Militia Man – Dinar Guru  I don’t care if you’ve been in this for 20 years.  What we’re seeing now is completely different.  It’s a progression.  Some people don’t like the progression.  They just want it to be over and done. Welcome to the club.

Clare – Dinar Guru  Article:  “Parliamentary Finance explains the reason for postponing the publication of the budget tables after the Eid holiday”   Quote:  “A member of the Parliamentary Finance Committee, Representative Moeen Al-Kadhimi, confirmed on Wednesday that the committee requested that the budget tables be redone before publishing them in the Official Gazette due to the existence of printing errors in the numbers, indicating that the committee is in the process of re-auditing the numbers and correcting the printing errors for the purpose of publishing them until after the Eid Al-Adha holiday.“

Samson – Dinar Guru  Article:  “Representatives appeal the budget schedules to the Federal Court”

Dinar Investor – Jeff    I told you guys the court would be overturning the budget because it is unconstitutional...I basically predicted the future for you.  It’s getting close to happening.   They’re most likely going to do this next week.  Article:   “Legal:The Federal Court will vote on the unconstitutionality of the budget table”   I told you the budget is unconstitutional.  I told you nothing was going to happen to the budget.  As you see I’m right.  The budget is getting overturned.  It is going to go back to an unapproved state.

Samson – Dinar Guru  “Jordan considers Iraq one of its ‘most important’ key partners in the investment field”  

Kaperoni – Dinar Guru  There is no RV.  Iraq could never afford any significant increase in the dinar. And delete three zeros is a neutral event. No gain on the currency value. We hope this does not occur.  The only way the dinar will ever go up  in value is a float based on the economic success and growth of their own economy.

Dinar Investor – Jeff  The central bank announced their 3rd strategic plan…They’ll be increasing gold reserves…they also said they’re going to offer new issues of high quality currency and reduce the deficit…

Nader – Dinar Guru  Last week…I said Iraq government start a new white paper, it’s all about the currency.  From here to the 8th of July we should have an answer.  What they going to do – Are they going to change the exchange rate or not?  That’s what I said exactly.  They’re working on it.  I know they created a white paper on that.   The CBI… government of Iraq, the reserve and the IMF are all working on the same page on those white papers.