Dinar Observer Daily

Dinar Investor – Jeff   Mid last week I posted  “The Final Countdown”   …Here’s the reason why right here…The approval of Iraq’s budget is waiting on the rate change.  That’s why it’s been outstanding/ pending for 6 weeks.  This week we’re entering into will be its seventh week.  In order for them to complete and approve, the budget is waiting for the rate to change …You’re seeing countless articles on this.  This is a critical piece to the timing of the rate change. 

Mountain Goat – Dinar Guru  The Minister of Commerce and Chairman of the National Committee concerned with Iraq’s accession to the World Trade Organization, Atheer Daoud Salman Al-Ghurairi…Article quote:  “…the completion of the files for the initial offer of goods and services within the files for joining the organization”.   No, they did not yet announce Iraq’s full
accession to the WTO but this is certainly getting close…I assume sometime soon, the National Committee will hold its third meeting with Iraq on the accession review…  With the US now backing Iraq this should move along quickly now.

Clare – Dinar Guru  Article: “Prime Minister’s Advisor: We will see the dollar fall on the black market soon“. Quote:  “The political advisor to the Prime Minister, Fadi Al-Shammari…pointed out that Iraq agreed with the US Treasury on a road map that includes a third party represented by an international consulting company to audit the procedures of the sanctioned banks, and its decisions are binding on the US Treasury.”

Sandy Ingram – Dinar Guru  Shocking documents from Iraq’s Federal Board of Supreme Audit have uncovered a massive corruption scheme.  Over 151,000 citizens were involved in the illicit buying of US currency…[They] obtained dollars at the official state rate for travel purposes but never left the country.  The black market refers to them as “ghost travelers”.  [We] are thinking the Iraqis sold the dollars for more money than they invested.  As a result of the corruption Iraq’s Central Bank employees, private banks, currency exchange companies and tourism firms were all involved.  This is a $600 million corruption scam involving the US dollar…

Breitling – Dinar Guru  When I did the evaluation [of the dinar] it was against countries and currencies that had lopped.  I had the same questions as you guys when I invested.  Where is this going?  How can this work?  I found out the value was in a policy based inflation, they want to add value to it, they injected US dollars into the economy, devalued the dinar.  The dinar you and I have has nothing to do with hyper-inflation, major market problems or anything like that…Yes, they can add value to currencies that have a lot of zeros behind it.  Iraqi dinar is stable.  They can and are going to add value to it.

Pimpy – Dinar Guru   People still continue to claim a re-denomination or the deletion of the zeros is somehow different than a LOP.  It’s not.  It’s the same thing…

Militia Man – Dinar Guru  Article quote: “…anticipating the impact of the central bank agreement with the US Treasury on exchange rates…it is hoped the Central Bank of Iraq will announce the measures that were agreed upon in Washington which could have positive impact on the exchange rate…”  The key focus is they’re talking about the exchange rate, positive impacts, the US Treasury on exchange rates.  That is fascinating.

Petra – Dinar Guru   Article: “The most difficult option… Warnings of the danger of floating the Iraqi dinar without achieving an important condition”   “hit” piece. Very poorly thought out and clearly indicates an ignorant author who does not understand economic processes and protocols, international finance, banking and transfer monies in an active productive society.  Clearly this writer attempted to use big words with unsubstantiated information and “no” back-up documentation other than…opinion. And, as stated, an ignorant one at that.

Militia Man – Dinar Guru  What did they say with JP Morgan just the other day? …He’s talking about emerging markets.  They’re focused on emerging markets and growth.  Iraq is an emerging market.  They’re not even international at the point of their exchange rate.  1310 is not viable around the world.  It’s not yet.  Whatever they’re doing, they’re focusing in on this is my view on it.

Mountain Goat – Dinar Guru  I don’t want to fill you minds with false hope or over speculate but…we can clearly now see something BIG is about to happen…our choo choo train is speeding down the track. The destination is the reinstatement but remember to reach it, the train must first make a couple stops along the way.  Many of these stops already occurred as we get closer and closer to our destination.   We can almost see the finish line…

Pimpy – Dinar Guru  What Iraq is preparing to do is delete the zeros off the currency.  That’s not what we wanted but that’s what going to happen...Everything has to do with what’s good for Iraq, not your investment.

Militia Man – Dinar Guru  Iraq has put themselves into a position that is now down to the wire for for us to get that budget to a place that they can do what they’re going to do…If they have an exchange rate that needs to facilitate all these deals…it looks like the United States and Turkey were the last two key indicators that show things are going to happen.  

Pimpy – Dinar Guru  People are still asking about the deletion of the zeros.  They want to know how that’s going to change the exchange rate…April 28, 2011 Article “Iraq plans to change currency:  Three zeros will be removed from IQD”  Quote:  “The Iraq government plans to chop three zeros off the national currency.  It should make transactions easier and enhance the exchange rate…the government announced they were close to completing plans for a re-denomination.” [Post 1 of 2]

Pimpy – Dinar Guru    I told you guys it’s called a re- denomination, a lop, the removal of the zeros, the deletion of the zeros, reducing the zeros, it’s all the same thing.  Quote:  “Three zeros would be removed from Iraq’s currency…and old bank notes will gradually be phased out.  For example this would make the IQD 1000 note into IQD 1 note…” This is taking it from 25,000 dinar to 25…25000 dinar times the current exchange rate .00076 = $19.  When we do the deletion of the zeros, the zeros are gone.  25 dinar x .76 = $19…This is deletion of the zeros.  This is lopping of the currency…  [Post 2 of 2]

Militia Man – Dinar Guru  A lot of people were not too happy of the more recent JP Morgan Bank stories…I had my own bank story…They’re true…I went into Chase Bank…They didn’t know who the Vice President Daniel Zelikow was…People that say when they go into the retail side of things you don’t get a reception like some of the other folks do that go into the private banking side…

Mountain Goat – Dinar Guru   The reinstatement is coming, it won’t be years anymore and I firmly believe from what we already know and what we are now witnessing, the writing is on the wall, but just not yet. Do you hold large sums of Iraqi dinar? Are they the larger three zero notes issued after 2003?  If so, you just might be a millionaire sooner than later.  In the month of April, Iraqi reforms has made monumental leaps and bounds even since 2023. Folks, it’s about to EXPLODE!  It is now openly evident…It would be foolish to turn back now. Full speed ahead, choo-choo.

Militia Man – Dinar Guru  They’re presenting the relationship with JP Morgan Bank and Iraq.  For all those that may still question whether or not JP Morgan is dealing with Iraq or not they should be alleviated from now…

Clare – Dinar Guru  Article: “The US Treasury praises the actions of the government and the Central Bank in the Washington meetings“

Breitling – Dinar Guru  You have these currencies that have a lot of zeros behind it.  Comparing with these other currencies that LOPed, Iraq is a completely different case.  They don’t have a market problem.  They don’t have a customer problem. Where is the inflation coming from?  It’s coming from policy.  How can they add value to their currency?  It’s all going to be based on 100% policy.  The authority comes from parliament, the Ministry of Planning, Ministry of Finance and the Central Bank of Iraq.  They don’t need any more customers.  To add value to the currency they don’t need to do anything else.

Kaperoni – Dinar Guru   Article:  “Government sovereign guarantees to encourage the private sector”  As I have been saying for years, until Iraq passes the needed legislation, nobody will significantly invest in Iraq…

Pimpy – Dinar Guru  Community comment: “I believe there’s an article by Dr. Shabibi stating when the new currency does come out both currencies will coexist for up to 10 years…”  Yes it was said it would coexist for 10 years.  I don’t think it’s going to need 10 years…The last time they changed currency they only gave them three months.  But even if it does coexist for 10 years…and they re-denominate…just because you still have the 25,000 dinar doesn’t mean you get to exchange it 25,000 times whatever the exchange rate is.  They’re going to treat your 25,000 dinar just like they would the 25 dinar.  It might coexist but don’t be fooled into thinking you get to take advantage of the fact you have 3 extra zeros because that’s not going to happen…

Militia Man – Dinar Guru  They show us progress…We have never been at this stage with Iraq ever and since 2003.  I don’t know any person out there and I know many that have been in this for over 20 year that have never witnessed what we’re witnessing today.  You really should be profoundly happy…It’s phenomenal.

Clare – Dinar Guru  Article:  “Al-Alaq reveals the Central Bank’s reserve… in dollars and gold”  Quote:   “The Central Bank has a foreign reserve of more than 100 billion dollars…We have gold reserves of more than 130 tons, most of which are located in England.“

Militia Man – Dinar Guru  Article:  “Iraq, US to form joint team to address sanctions on Iraqi banks”  Central Bank Governor Al-Alaq has worked for concessions for and on the behalf of Iraqi Banks to the UST with regard to current sanctions imposed on them.

Pimpy – Dinar Guru  Question:  “What are the proper notes to hold for investment purposes?”  Any of the currency is okay to hold at the moment so there’s no specific denomination.  If they do delete the zeros or they re-denominate they’re going to have whole new currencies.  That’s why there’s no rush to try to find lower denominations because they’re going to replace all of them including the lower ones.  But there is a possibility that they don’t re-denominate and we get lucky and they change the exchange rate and keep the zeros on the currency.

Clare – Dinar Guru   Article:  “CEO of JPMorgan Chase expresses Support for Iraq”  Quote: “Prime Minister Mohammed Shia al-Sudani received Mr. Jamie Dimon, the CEO of JPMorgan Chase, and his accompanying delegation on Wednesday, during his visit to the Washington DC.“

Samson – Dinar Guru  Article: “Al-Sudani: We have reached satisfactory solutions with the US Treasury to address the conditions of the sanctioned banks“

tishwash – Dinar Guru    ali alaq did give a speech this morning.   Quote:  “Regarding the issue of financial reform in Iraq, Al-Alaq explained, “Iraq has a multi-faceted program in this framework, as the first aspect is harmony, adaptation, the adoption of international standards in financial transactions…“

Militia Man – Dinar Guru   Al-Sudani has rocked it.  They showcased this country like they’ve never done before.  We’ve never seen this.  Anybody that’s been in this investment since 2003 has never witnessed what we’re witnessing today…If they were going to come out at 1310 dinar to try to do all the things they’re doing right now the world would be just like they were in Kuwait – crickets.  This is powerful.  Wonderful.  

Nader – Dinar Guru  ‘Everybody’s like, hey  Nader you’re there for the announcement?‘  There’s no announcement.  There’s not big screens…They’re going to come out with a new exchange rate maybe a little smaller for now yes...You see they talking about changing the exchange rate again.  Yeah, they’re going to do it soon.  We’ll see what it is.  It could be 1000.  Remember we said 1000 and then they eliminate the three zeros…You’re going to have to be patient.