Dinar Observer Daily

Clare – Dinar Guru   Article:   “Iraqi banking system..A significant increase in the number of bank accounts and the volume of deposits for citizens”  Quote:  “The banking system in Iraq is gradually regaining citizens’ confidence…In Iraq, economic and political challenges over the decades have provided a strong justification for keeping money at home rather than in banks.  However, the accession of the Iraqi Deposit Insurance Corporation (ICDI) to the International Association of Deposit Insurers was a decisive step in improving confidence in the banking system. Since its accession, Iraq has witnessed a significant increase in the number of bank accounts and the volume of deposits...This development enhances Iraq’s ability to attract investment and support economic growth by converting savings into productive investments.”

Jeff – Dinar Guru  They are having meetings right now to talk about the withdrawal of US troops starting in September.  For them to pull the troops out they had to have already revalued and fully completely paid the US back, US sanctions off, all that.  Iraq has to be 100% done with everything for the United States to remove the troops.  That’s the very last step.

Militia Man – Dinar Guru  All this time they’ve been doing all these meeting in Washington.  About 48 hours ago they have come up with an agreement…to reduce forces…Alaq went to Washington about 10 days ago, unannounced visit.  He met with the US Treasury and the US Federal Bank, had to do with exchange rates…other currencies…They’re going to be talking about…banking, finance, development, sovereign guarantees ... Ultimately, Iraq is going to have bilateral relations in security with the U.S. in finance, development, all those things.

Samson – Dinar Guru   Article:  “Baghdad submits a proposal to Washington to withdraw international coalition forces“

Clare – Dinar Guru  Article: “Cooperation in communication and training… Washington talks reveal a new Iraqi-American understanding“

Pimpy – Dinar Guru  Article: “Iraqi bank announces investment deposits with returns up to 10%”  that’s a really good return…Imagine if 20 years ago you’d have made a deposit and been able to get back 10% back annually while it’s just sitting there.  You’d have made a ton of money by now…You see some of us have millions of Iraq dinars.  Let’s just say for the sake of it somebody like me, I got 5 million, I deposit it.  It’s going to give me 10% return on my investment.  I’ll take 500,000 Iraqi dinar back annually.  That’s a nice little return.  And just let it sit there while I’m waiting…If the exchange rate changes I can always have them return it to me in USD… [Post 1 of 2….stay tuned]

Pimpy – Dinar Guru  If you’d been holding on to your dinars for at least 10 years you have more than doubled your money.  That’s not including any change to the exchange rate, because if the exchange rate changes, then you get that back once you cash out.  In other words if you tell the bank I’d like to get it in USD, they go, okay, no problem.  And please transfer that to my American account.  Just something to think about.  I may actually do this.  I’m going to reach out to them and see what it takes and what happens.  If I can get 10% on it annually I’ll take it.  Heck I might buy more and deposit more.  Something to think about. (Post 2 of 2)

Jeff – Dinar Guru   Everything is pointing to…August.  I really feel that’s when the rate is changing…Everything seems to be hovered and centered around the nucleus of August being their accession to the World Trade.  Somewhere around mid-August.  That’s when we’re going to see most of their critical steps coming forward…It’s amazing what’s happening right now.  We’re definitely in the period for the rate change. It’s here.  It’s right in front of us.

Clare – Dinar Guru  Article: “Iraq Registers 324 Local Companies, 27 Foreign Branches, in June” Quote “The Companies  Registration Department of Iraq’s Ministry of Trade said it has successfully processed the establishment of 324 national companies  and registered 27 branches of foreign companies in June.”   

Jeff – Dinar Guru  President signed off on…the budget on June 27th.  I want to show you a pattern here…Issue number 4781 published in the Gazette on July 1st 2024…then…they skip issue number 4782 and advance to 4783…published on July  8th.  We believe the Gazette issue number that is missing 4782…is actually the budget itself.  They just can’t publish it in the  Gazette because right now it’s being deemed or perceived as an unconstitutional law.

Samson – Dinar Guru  Article: “IMF: Iraq increases its gold reserves to 148 tons” Quote “Data from the International  Monetary Fund showed an increase in gold reserves in Iraq…Iraq increased its gold holdings by 2,644 tons to 148,305 tons in May  2024.”

Clare – Dinar Guru  Question:  “Any idea on how long this 3rd meeting / WTO ACCESSION period will last?”   NO, I HAVE NO WAY OF KNOWING… BUT IN MY OPINION, THEY REALLY ARE TRYING TO GET IT DONE AS QUICKLY AS POSSIBLE.  HOWEVER, THEY ARE TELLING US IN
ARTICLES NEXT MEETING IS 1ST QUARTER OF 2025, BUT THINGS CAN ALWAYS CHANGE.

Militia Man – Dinar Guru  I think Iraq’s pretty hot right now… Sudani…is kicking butt and taking names…Everybody’s got an interest because the Development Road Project is going to provide a lot of opportunities for a lot of different people in the region.  The world has realized how far along he is… Sudani is knocking out of the park…He’s setting the stage or the development road project to begin.  It’s starting up on fire.  It’s going to be great.

Mountain Goat – Dinar Guru   Again, I have to ask as to why the reinstatement has not already occurred, if no other rate on FOREX than to reflect the assets of the oil rentier economy already established and ongoing as we know it prior to 1990.  Prior to 1990, the rate of the dinar was hovering around $3.22. So why are they still artificially suppressing the rate now? Now, it’s 1/6 of a penny? The war has been over for 21 years, all of Chapter VII sanctions are lifted a year and a half ago, Iraq is producing 1/3 more oil than in 1990, their monetary reserves are the highest in history, up to 150 tons of GOLD and many more other marketable assets are now in motion...  [Post 1 of 2….stay tuned]

Mountain Goat – Dinar Guru   Oh…did I mention de-dollarization and all the banking and anti-corruption measures already put in place…I believe it is this “all or nothing” attitude that is holding back Iraq as it needs its currency back online now. This is especially true for attracting foreign investors…  my CBI contact told me…why the Project to Delete the Zeros is stalled. I will not get into details of these reasons…as I feel we must just buckle down and wait for this Biden administration to end, at least the part that is controlling the US Treasury and pretending to work with Iraq…the RV happening while the democrats are in power is slim to none! I have strong knowledge from my CBI contact this is what has been holding up the RV. The US Treasury will NOT release it…  [Post 2 of 2]

Samson – Dinar Guru  Article: “US delegation confirms to Finance Minister: We are ready to support Iraq in achieving economic development“

Clare – Dinar Guru  Article: “A high-ranking security delegation arrives in Washington to hold a round of talks to end the coalition’s mission“

Sandy Ingram – Dinar Guru   You don’t want to pay rent, you don’t want to pay mortgage, house note, new car, sports car, insurance, vacations, all of those things that we all want to do once we come into money.  No no no no no.  [Keep working.] You invest your initial profit.   When the investments create income for you then you go and do all those wonderful things… [Dinar Guru Note: Consult your financial advisors at the appropriate time to find the right investments and payment strategy for your unique circumstances and lifestyle.]

Jeff – Dinar Guru  The budget is not posted in the Gazette.  The budget hasn’t been implemented because it’s unconstitutional…

Clare – Dinar Guru   Article: “The World Trade Organization opens its doors to it.. The Iraqi economy returns strongly to international competition” Quote: “The World Trade Organization has accelerated Iraq’s steps to join it, following the resumption of negotiations that had been suspended for more than 16 years. The Iraqi delegation is preparing for the next round of negotiations that are expected to resolve this issue, which will open up global trade horizons for Iraq and return it to strong economic competition, in the region and the world, under a multilateral economic system.“

Samson – Dinar Guru  “Washington hosts today the joint security dialogue between Iraq and America“

Jeff – Dinar Guru  Delete the zeros has nothing to do with the exchange rate.  Deletion of the zeros simple means removing currency notes with multiple zeros on them.

Sandy Ingram – Dinar Guru  Iraq will have the fifth largest economy in the Arab world in 2024 according to the CEO World, a leading business magazine…Iraq’s GDP will be $265.9 billion in 2024…This is excellent news for IQD investors.

Kaperoni – Dinar Guru   Community Comment: “Does this have a negative, positive or neutral effect on our investment?”  Article: “Mazhar Muhammad Salih: Our cash reserves are the highest and there are no fears of the dollar rising”  This is good news.

Clare – Dinar Guru  Article: “Government advisor reveals Iraq’s gold reserves have risen to 150 tons... and the reason for its high price“  Quote: “Gold is one of the most important safe investment havens in the world, which is resorted to by the investment portfolios of central banks and various investors”

Jeff – Dinar Guru   There was a perception out there that the rate was going to change before the July 18th accession date to the World Trade…This was their 3rd accession World Trade meeting.  There’s a 4th meeting coming in Q1 of next year of ’25...Many thought Iraq would become a full member as of July 18th.  None of that happened. 

Militia Man – Dinar Guru  They’re going to delete the zeros.  You don’t create value by deleting zeros and implementing small category notes.  You can’t take 1310, which is .00076 to the dollar and just delete the currency and implement it without changing the value.  It doesn’t work that way… .0007 is far less than a penny.  You guys settle down.  Pay attention…

Pimpy – Dinar Guru  “Removing Zeros from the Iraqi currency: Talk Returns and Possibility of Implementation”  What is nominal value Pimpy?  The nominal value of currency is its current price or face value as printed on the currency by the issuing authority.  It’s the number written on the bank note...  This is a re-denomination when they delete the zeros…Once this is done and a new currency is printed, the old one is removed.  If the old ones remain out there for a while they will carry the same value as the new currency, not the old currency.

Jeff – Dinar Guru  Why do countries lop and why would Iraq not be lopping?  …It’s all inflation based…Example… You’re talking 3% with Iraq to 30%-40% with Iran.  Apples to oranges.  That’s the reason why Iraq wants to remove the zeros.  They don’t need all the extra zeros on their notes to reduce their inflation.  It’s already where it should be for them to remove the 3-zeros notes...Adding zeros to the notes or removing zeros to the notes is completely hinged on where that country’s inflation is.

Clare – Dinar Guru  Article:  “She supports him fiercely.. What you don’t know about Trump’s Iraqi-origin lawyer”  Quote: “After the assassination attempt on US President Donald Trump, his Iraqi-born lawyer, Alina Habba, gave a speech on the last day of the Republican Party conference in Milwaukee, Wisconsin, to express her full support for Trump.“