Dinar Observer Daily

Clare – Dinar Guru  Article:  “Advisor to the Prime Minister: Iraq today has the highest levels of foreign reserves in its financial history“

Pimpy – Dinar Guru   I’ve heard this story a zillion times – It [the Iraqi dinar] used to be $3.22 so if you adjust for inflation it’s going to be much higher.  If that was the case do you understand how much higher the Kuwait dinar would be?  It’s around the same as it was 7, 8, 10, 20 years ago.  You don’t see them go, ‘Hey this year we raised a whole other dollar because of inflation.’  No.  That’s just ridiculous.  I’ve heard that all before.  It’s not adjusted based on inflation…There is no currency exchange out there right now that you can find that’s even remotely close to $4 let alone $7…

Militia Man – Dinar Guru   Iraq is getting praise from the international world, the globe, everybody around the world.   Seven of the largest entities on the planet are reaching out… Article quote: “The seven countries, the European Union, the World Bank praised Iraq’s government which with continued commitment to economic reform and stimulation the private sector and growth.”   These guys are stoked that Iraq is committed to economic reforms and they’re giving credit where due.

Kaperoni – Dinar Guru  Sanctions on Iraqi banks for continued money laundering undermines the exchange rate and hurts the spread.

Sandy Ingram – Dinar Guru  We are not living a pipe-dream.  The IQD and the VND investments are real...Iraq is a small wealthy country…with gold reserves, oil and $100 billion in cash reserve.  They are making serious effort…It is safe to say that an appreciation of $0.10 or even $1.00 to 1 Iraqi dinar is not out of the question.  

Babysmom – Dinar Guru  THE DINAR WILL COME OUT AT A SPECIFIC RATE ON FOREX. IT WILL RISE FOR A WHILE BASED ON POPULARITY OF HEDGE FUNDS ETC. THEN IT WILL COME DOWN IN 5% INCREMENTS UNTIL IT REACHES A SETTING POINT… WITHIN 25 CENTS OF THE KUWAIT DINAR.  CURRENTLY THE KUWAIT DINAR IS APPROXIMATELY $3.25.

Pimpy – Dinar Guru   Iraqi dinar is pegged to the US dollar.  If the dollar starts to lose value because the interest rates are being cut, then is this the time for Iraq to de-peg away from the dollar?  …No, you just don’t do it.  You have to weigh the pros and the cons of it.  Yes I would like to see Iraq de-peg from the US dollar but I also want to make sure they are set up to do so before they do that…Sure the value of the dollar is going to drop, should Iraq de-peg itself and be independent and make their own decisions with the possible risk of it losing value instead of it gaining value?

Samson – Dinar Guru  Article: ”Politician: The UN and international praise for the Sudanese government and its achievements are unprecedented“

Militia Man – Dinar Guru  They [Iraq] have been on steroids… ever since Al-Sudani took office and they allowed him to go to the UN assembly meeting and then over to Davos.  Now the UN is talking about releasing them from UN Chapter VII sanctions because the mission from the UN is coming to a close…

Militia Man – Dinar Guru   There was a kind of documentary out showing how they were destroying triple zero notes.  Think about it, if you had printed trillions and trillions of notes, it takes a long time to reduce your note count….The fact they were going to be doing this whole delete the zeros project from the exchange rate they were going to have a use for what? [Coins].  They even talked about coins in the last week…The project to delete the zeros, they’re still in the process of doing it.

Clare – Dinar Guru  Article: “Netherlands: About 60 thousand Iraqis live in our country and we are waiting for the Sudanese to visit” Quote: “Dutch Foreign Minister Hanke Bruins-Sloot announced on Tuesday that about 60,000 people from the Iraqi community live in her country, while she confirmed that Amsterdam is awaiting an upcoming visit by Prime Minister Muhammad Shiaa Al-Sudani.“

Militia Man – Dinar Guru  Article Quote:  “Ending the mission of United Nations office in Iraq takes Iraq out of Chapter VII”  Who hasn’t been waiting for Iraq to get the last shackles off their back?  Quote:  “Chinese representatives in recognition of the existence of a state of political and economic stability in Iraq gives Al-Sudani the opportunity to ask the Secretary General of the Untied Notation to end the work of the Untied Nations office in Iraq or at least reduce it and then Iraq will exit from chapter VII.”  …That’s pretty powerful data…Could he have already asked?  …I’m really pleased with this.

Samson – Dinar Guru  Article:  ”Observer: Ending the mission of the United Nations office in Iraq takes Iraq out of Chapter Seven“

Mountain Goat – Dinar Guru  …told to me just yesterday by my CBI contact…I was told that of the committee responsible for orchestrating the project to delete the zeros, had a member given a directive to supply a set of quality photos of the newer lower denomination paper currency and the coins. They are then to work with the technical side to deliver these photos and a writeup on the process of how the project to delete the zeros is going to work….I was told that in the coming weeks they were told that a meeting will be scheduled to review timetables for the coordination of all these events…Folks this is amazing news.

Pimpy – Dinar Guru  There are many countries that have a ton of resources and the governments are rich but the people are poor.  I’ve been a huge supporter of the Iraqi people.  I keep praying their government gets their shit together and they’re able to prosper from the resources they have.  There’s no reason for them not to.  Sure I want to make money off the Iraqi dinar but…not at the expense of the Iraqi people…I can see how the Iraqi people will become prosperous because if they change the exchange rate it give them more purchasing power.  That means they’re able to buy a lot more things with their money…An increase in the exchange rate would benefit them greatly…

Clare – Dinar Guru  Article “Iraq increased its possession of the yellow metal to more than 142 tons” Quote “Iraq announced the purchase of gold in the year 2023, amounting to approximately 12.25 tons.” 

Militia Man – Dinar Guru  We’re in the process of watching it unfold…Everybody should be able to be excited because the news is collectively showing Iraq is moving to a private sector/market economy and there’s partnerships with the public to be able to facilitate it.

Kaperoni – Dinar Guru   I remind people again Iraq’s entire net worth including all minerals in the ground including oil is only worth about $16 trillion dollars. With over 100 trillion dinar in circulation Iraq could never RV the dinar!  Only with the success and growth of Iraq’s economy and private-sector can the dinar go up in value. It could go up gradually over time as Iraq’s GDP increases.

Sandy Ingram – Dinar Guru  The CBI must carefully manage the timing of revaluation…[Iraq] has over $100 billion in foreign currency reserves.  The IMF has continually said Iraq needs more income streams to offset the oil industry.  The Development Road Project and several other manufacturing projects are all a part of increasing Iraq’s income streams.

Pimpy – Dinar Guru  I already said this about the World Trade Organization – There is no certain exchange rate that you must have to get into the World Trade Organization.  What they’re looking for is an exchange rate that’s very stable.  Although…IMO I’m pretty sure they would prefer it if you didn’t have so many zeros.

Clare – Dinar Guru  Article:  “The Governor of the Central Bank of Iraq receives a delegation from the World Bank”  Separate article quote: “The World Bank confirmed on Wednesday that the infrastructure for electronic payment systems in Iraq is the best in the region.“

Pimpy – Dinar Guru  Re: Nader question: “People are going to lose money if they change the 25000 for 25…If…I get 25 dinars that means I’m gonna go to the bank, if it go 3 to 1 that mean I’m gonna have only $75?”  I told everybody that is  a possibility.  Doesn’t mean it’s gonna happen but I’m saying this is what people should at least be prepared for…There’s a possibility they delete the zeros and then change the exchange rate.

Clare – Dinar Guru  Article: “The US Treasury includes an Iraqi bank on the sanctions list”  Quote:  “On Monday, the US Treasury Department included the Iraqi Al-Huda Bank on the sanctions list, as a source of major concern regarding money laundering because it “acts as a channel for financing terrorism by Iran.”

Samson – Dinar Guru  Article: “Senior US Treasury official travels to Iraq to counter illicit finance“

Fnu Lnu – Dinar Guru  They do not have a massive amount of Dinar with which to deal. Small incremental increases of value over time will guarantee failure and all the many billions of dollars spent, and man-hours wasted will for naught. It is more likely they will come out high on the exchange rate and let it fall until it finds equilibrium instead of creeping upwards in 2% measures every 90 days over decades.  Meanwhile everyone loses faith in the GOI, riots, and starves to death. Small increments over time makes absolutely no sense and is illogical.

Militia Man – Dinar Guru   1310 is not a Real Effective Exchange Rate.  I don’t think the largest accounting firms in the world would be dealing with this, at this time, which they’ve never done before, we’ve never seen ever the Central Bank of Iraq talk about…the 13 [big accounting firms]…They have now.

Pimpy – Dinar Guru  Changing the exchange rate has a huge impact on inflation, imports and exports.  I think Iraq can easily go up in increments.  This will allow them to really monitor the inflation.  This will also increase the quality of life for the Iraqi people.

Mountain Goat – Dinar Guru   Article:  “NATO CONFIRMED TODAY, TUESDAY, THAT IRAQ IS A REGIONAL LEADER IN THE REGION AND IS TODAY MORE SECURE AND STABLE”  Quote:  “…the NATO mission is an advisory mission, not a combat mission, and that Iraq is a regional leader in the region, and is safer today and stability.”   This was nice to hear that they believe Iraq is SAFER and STABLE. This is what we need.

Pimpy – Dinar Guru   People are getting confused…When they delete the zeros, they’ll change the currency.  It’s not the exchange rate.  That’s where the confusion is…If I have a 25000 dinar and I delete the zeros, now I have a new currency that comes out…They have the same value.   The nominal value is a number…25000…the new one says 25, but the exchange rate between these two currencies stays the same – 1 to 1.   What they’re saying is the 25000 dinar has an equal value of the 25 dinar.  That goes on for a little time until people trade in all the notes.  They’re not talking about against other currencies.

Nader – Dinar Guru  Algeria is big and has a lot of assets but they have a lot less than Iraq and their dinar is stronger than Iraqi dinars.  If you look a the Tunisian dinars, Tunisia has nothing…and their dinars are 3 to 1 – Three dinars to $1.  My point is these people has nothing.  They’re coming out a revolution.  They is a mess.  It’s completely a mess.  They lost a lot.  The private sector is a mess and it’s [their dinar] is still strong.  Iraq, this rate is still a punishment rate…They have to revalue.  If they revalue they’re going to revalue 1 to 1.

BGG ~ Apparently, someone doesn’t understand simple “supply & demand” economics. They don’t have to do anything. What they do or don’t do will have to do with their own desire and economic policies.