Dinar Observer Daily

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.

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.