Dinar Observer Daily

Pimpy – Dinar Guru  People keep taking about the $3.22 rate.  In their minds they keep thinking, ‘Oh yeah, the $3.22 rate when Iraq had 25,000 notes.‘  No. That’s not the case.  That exchange rate is when they had lower denominations, not these these hyper inflated currency…We’re all hoping the exchange rate will change without deletion of the zeros.  That’s what we want.  We’ll see how that plays out…

Militia Man – Dinar Guru  How are they going to attract foreign investment?   They’re going to open their borders with an International currency … and they’re going to rock and roll.  The signs are everywhere.  Al Sudani recently said he was going to make a change to the dinar to 1.32 dinars to the dollar, which is about $0.76.  But that doesn’t include adding the Real Effective Exchange Rate.

Pimpy – Dinar Guru    People always say, Oh, you know, President Bush said the Iraqi dinar will pay for the war itself.  No, what he said was Iraq would pay for the war itself, not the Iraqi dinar.  They’re talking about the oil.  It wasn’t even Bush that said that...

Militia Man – Dinar Guru   The private sector is going to be the fuel to what they consider is the most important project in the world (Development Road project).  Their words not mine.  Article quote: “The initial designs for the Development Road Project have reached advanced stages… The development road is a vital project, one of the most important projects in the world…”

Pimpy – Dinar Guru  Once they re-denominate the old currency is no longer any good.  You can exchange it for the new lower bank notes but your higher bank note doesn’t have any extra or more purchasing power or more valuable than the new notes.

Clare – Dinar Guru  Article:  “Government spokesman: The Prime Minister will discuss 5 basic files during his visit to Washington”  Quote: “among the files that will be discussed during the visit also are the financial file and what is related to the decisions of the US Treasury, the influence of Iraqi banks and the debts owed by Iraq,”

Militia Man – Dinar Guru  Their new accession law seems to be gaining traction with Iraq having accession to the European Bank of Reconstruction and Development and the FEMOZA World Federation of Free Economic Zones. The WTO is likely next in line for Iraq’s integration with the international world.

Tishwash – Dinar Guru   Article:  “The decline of the dollar.. Parliamentary Finance says that the crisis is on its way to ending “finally”  Quotes:  “The Finance Committee in the Iraqi Parliament confirmed, today, Sunday (March 24, 2024), that the dollar exchange rates in the parallel market will continue to decline until the official price fixed by the Central Bank of Iraq is reached.“;  “… this crisis are on their way to being resolved once and for all.“; “The visit of Prime Minister Muhammad Shia Al-Sudani to Washington is very important at the level of financial and economic files, and Al-Sudani is discussing with the American side strengthening and strengthening the Iraqi dinar“

Sandy Ingram – Dinar Guru  Article quote: “Salih summarized on Friday the benefits of Iraq’s accession to the membership of the European Bank for Reconstruction and Development.”  It looks like Iraq is doing everything possible to join the international financial platforms.  We need to wait and see how this will affect our ability to exchange our Iraqi dinar bank notes for US dollars.

Dinar Investor – Jeff  Parliament can only approve the budget after the rate officially changes.  The rate has to officially change before parliament can approve it…

Pimpy – Dinar Guru  One of those myths that are out there…Executive order 13303…If you’re a new persons investing into the Iraqi dinar you will hear…we’re allowed to invest in Iraqi dinar because George Bush signed executive order 13303…Nowhere in executive order 13303 does it state such a thing...Having said that, it doesn’t mean you can’t invest in Iraqi dinar…Obviously investing in currencies are a thing but nothing in these orders at all say that Bush gave you the right to invest in the Iraqi dinar.

Clare – Dinar Guru  Article: “Adviser to the Prime Minister: The decline of the dollar is an indicator of the strength of the dinar and a tangible success of economic policy”  Quote:  “We indicate the strength of the Iraqi dinar, expressed in the decline in the parallel market rates of exchange in favor of the official exchange rate…”

Militia Man – Dinar Guru  Article quote:   “Iraq joins FEMOZA” It’s the World Federation of Free Economic Zones.  Why is this important?  Iraq has accession to this…We have the accession law to join the European Bank and now we have the accession to the World Free and special economic zones federation...Both of these entities are about finance and building new industrial cities.  If you don’t think Iraq is going to go international, you might think again…

Mountain Goat – Dinar Guru   Wars, displacement, and sanctions have left Iraq’s economy underdeveloped and almost solely dependent on oil exports. But things have changed in Iraq and come this mid-year 2024 we are about to see the results of  many years or reforms in an explosion of progress in many areas of development in Iraq. You see, all these reforms we all have been reading about in the many articles are all good but unless Iraq actually sees any impact they are meaningless. Oh…but we are about to see the impact and it is going to be HUGE $$$.

Tishwash – Dinar Guru  Article:  “Iraq is ninth in the world in natural resource reserves…”   Quote: “Iraq was ranked among the top ten countries possessing the most valuable natural resource reserves, in terms of total estimated value for the past 3 years.“

Clare – Dinar Guru  Article “Statement from Press Secretary Karine Jean-Pierre on the Visit of Prime Minister Mohammed Shia’a Al-Sudani of Iraq to the White House”  Quote “On April 15, President Joe Biden will welcome Prime Minister Mohammed Shia’a Al-Sudani of Iraq to the White House to coordinate on common priorities and reinforce the strong bilateral partnership between the United States and Iraq.”   

Pimpy – Dinar Guru  Community Comment “Pimpy needs to understand outside investors of Iraq have absolutely nothing to do with project to delete the zeros.  Our 25,000 note will be 25,000 note in America.”  I’m guessing you think that if they re-denominate the currency inside of Iraq and they change the exchange rate to $0.76, I guess you thought we could take the old currency and exchange it for the current exchange rate.  That’s not going to happen.  I’m telling you right now that’s not going to happen…25,000 dinar would be equivalent to the 25 dinar…What Iraq does in country to its currency affects the currency worldwide.. 

Militia Man – Dinar Guru  Article Quote: “Al Sudani of Iraq to the White House to coordinate common priorities and reinforce the strong bilateral partnership between the United States and Iraq.  The leaders will reaffirm the commitment to the Strategic framework agreement…”  I like that part they will reaffirm it so in other words, if they reaffirm it as it is the United States isn’t going anywhere… Quote “Al Sudani of Iraq to the White House on the 15th of April.”

Dinar Investor – Jeff   Article: “The White House announces the date of Sudanese’s visit to Washington”  Three articles tell you that on April 15th Iraq’s prime minister Sudani will come to Washington DC to meet with Joe Biden and US official...Iraq has just officially give you the rate change date in these articles.  No it is not April 15th.  April 15 is not your rate change date… (Kuwait March 24,1991.  Sunday.)

Samson – Dinar Guru  Article: ”Visit of Prime Minister Mohammed Shia’a Al-Sudani of Iraq to the White House”  Quote: “On April 15, President Joe Biden will welcome Prime Minister Mohammed Shia’a Al-Sudani of Iraq to the White House to coordinate on common priorities and reinforce the strong bilateral partnership between the United States and Iraq.”

Clare – Dinar Guru  Article:  “For the first time, dollarization decreased by 20% in Iraqi markets”

Mountain Goat – Dinar Guru   Article Quote:  “...Iraq will leave government cash dealing and switch to 100% electronic collection in mid-2024.”  So, by reading today’s article on the surface it seems that Iraq would be doing away with all paper currency as they said “switch to 100% Electronic collection by mid-2024”. But I assure you this is NOT the case… it does NOT say they are doing way with cash altogether, as the Dr. Shabibi plan that I know and have been following very diligently does not indicate this either…this will be a huge milestone in the banking reform process...Iraq has been struggling to get the electronic payment process completed and now they are telling us it will be completed by mid-year 2024. WOW! WOW! WOW!

Pimpy – Dinar Guru  Article: “Iraq’s accession to the European Bank for reconstruction and development”  This is another step for Iraq to start working with the International community.  This shows outside investors how serious Iraq is of getting back on track.

Clare – Dinar Guru  Article:  “Iraq’s accession to the European Bank for Reconstruction and Development”  Quote: “The Iraqi Fund for External Development in the Ministry of Finance announced on Wednesday that the Republic of Iraq has joined the membership of the European Bank for Reconstruction and Development (EBRD) after the House of Representatives approved the accession law.”

Militia Man – Dinar Guru  1310, 1460, 1182…they didn’t go international with that…Why would you today at 1310?  It doesn’t make any sense…They had oil at $3.22 to 1 [Back in Saddam’s day]…If you reinstate with oil at…$80 to $85 a barrel today ($35 to $40 a barrel back then) and they increased their production since then.  Even on that one thing, lopping their currency is ludicrous.  It makes no sense to anyone that does basic math.

Pimpy – Dinar Guru  The gap between the official and the parallel market exchange rates…is starting to get smaller.  Remember they have to be within 5% consistently for a length of time and it absolutely looks like Iraq is accomplishing that so congrats to Iraq.

Clare – Dinar Guru  Article:  “The battle for the dollar is nearing its end…a sharp decline in exchange rates”  Quote: “The prices of the US dollar against the Iraqi dinar closed lower in Baghdad, today, Thursday, with the stock market closed.“

Tishwash – Dinar Guru  Article:  “Adviser to the Prime Minister: The decline of the dollar is an indicator of the strength of the dinar and a tangible success of the economic policy”  Quote:  “The financial advisor to the Prime Minister, Mazhar Muhammad Saleh, confirmed the strength of the dinar against the dinar after a relative decline in the exchange rate.”

Dinar Investor – Jeff   The next big step in this is we want to see when Iraq will be amending their budget…They can amend it before or after the rate changes…

Pimpy – Dinar Guru    If they’re going to do a re-denomination and a reevaluation at the same time then I guarantee the notes they’re going to use are going to be the lower denominations.  So instead of getting $3 per dinar for a 25000 note, you’re going to get $3 per dinar for a 25 dinar note.  You can jump up and down and have a fit all you want.  I’ve been telling you guys this is what’s going to happen [If they re-denominate].  This is great for the Iraqi people…They’ll be happy about the change in their wealth but the western people will not even have a taste of it…I keep warning you guys about this… [Post 1 of 2]