Dinar Observer Daily

Paulette – Dinar Guru  Iraq cannot RI without “accepting Article VIII obligations” and cannot do so if they have a MCP.  Dr S said that the “new currency” will co-exist with the 3 zero currency for up two two years in the market and ten within the banks.  They cannot treat the two currencies at different rates and be deemed as having “accepted Article VIII obligations”.  Without “accepting Article VIII” obligations, they simply cannot RI…

Militia Man – Dinar Guru  Article:  “Removing the zeros from the Iraqi currency talks returns and possibility of implementation”  How is that possible…without having value?  …When they talk about removing zeros from the Iraqi currency they’re talking about returning to a previous era.  They’re talking about the glory days.  I think everybody…knows in the country too, I just can’t say we can prove it from a link in print.  But the expectation is Iraq is going to bring value to their currency.  We know that by Al-Sudan’s comments…that the Iraq dinar would be 1 dollar…equal 1.32 dinar.

Kaperoni – Dinar Guru  Article: “Deleting the Zeros of the Iraqi Currency”  I have said it numerous times…we do not want to see Iraq delete zeros.   

Nader – Dinar Guru  You heard them talking about corruption.  They’re going to clean it up but it’s going to always be there.  It’s everywhere.  It’s in America.  It’s everywhere in the world.  It’s in Europe.  It’s here.  Corruption is  corruption, the biggest corrupt people you cannot clean them cuz they have powers…You can’t do anything against them.

Clare – Dinar Guru   Article:  “Removing Zeros from the Iraqi Currency: Talk Returns and Possibility of Implementation”  Quote: “if the currency is the “dinar” and its value is equal to 1,000 dinars, after removing three zeros, its value will become one new dinar…According to experts, the actual value of the money people own does not change after deleting the zeros, but this step contributes to simplifying the buying and selling processes for individuals and companies, and makes the financial amounts simpler and more understandable. Instead of dealing with huge numbers such as a trillion or a million (1,000,000 Iraqi dinars), they can be converted to just one thousand 1,000 dinars after deleting three zeros…The exchange rate will be transformed into one dinar for every one dollar, and this is what the late former governor of the Central Bank, Sinan Al-Shabibi, aspired to“

Pimpy – Dinar Guru  Yes, an article came out again about deletion of the zeros… “Removing Zeros from the Iraqi currency: Talk Returns and Possibility of Implementation”  I keep telling everybody when they do the deletion of the zeros this is how it’s going to work.  You got a 25,000 dinar.  Right now at the current rate you have .00076.  It equals $19.  The nominal, which is the [three zero] currency, they will remove the three zeros [25]…and it will take the three zeros off [the rate – .76]…That would be 25 dinar times .76 gives you $19.

Clare – Dinar Guru  THE WTO FULL ACCESSION HAS NEVER BEEN A REQUIREMENT FOR A RATE CHANGE.

Militia Man – Dinar Guru   Obviously Iraq is trying to reach out to the people and share with them some education about how the “delete the zeros” works…I have a translator who reads and writes Arabic fluently…and they say this ad is the real deal… Part of a campaign of awareness and released in several countries…Like Al Alaq said in July of last year.  The project to delete the zeros still exists…the emphasis is that it’s all positive and they are going to do something with their currency. 

Clare – Dinar Guru  THE WTO FULL ACCESSION HAS NEVER BEEN A REQUIREMENT FOR A RATE CHANGE.  …THE VIDEO THAT WAS RELEASED IN IRAQ & ARAB NATIONS EXPLAINING ALAQ’S COMMENT ABOUT THE DELETION OF THE ZEROS…WAS HUGE!!! THIS IS WHAT WE WANT THE DELETION OF THE ZEROS!!! COME ON CBI…

Kaperoni – Dinar Guru    Question: “So the RV tomorrow 3:00? Lol”  You need to change your thinking. There is no RV, never will be one. The only way that dinar can go up in value is ‘gradually’ over time based on the success and growth of Iraq’s own economy.

Sandy Ingram – Dinar Guru   Question: “How is Iraq going to do business in the international market with such a low currency rate?”  This is why Iraq will need to increase the value of its currency.  Currency values… act as a silent force influencing a country’s global competitiveness.  When a country’s currency value is low it can impact it’s ability to compete…Iraq’s top trading partners are China, India, South Korea and on the sidelines Iran.  However things are about to change and fast.  The development road project places Iraq right in the middle of the global financial markets.  [We] have little doubt the Iraqi dinar will increase in value but we don’t know when or how much.

Paulette – Dinar Guru  Article: “Iraq faces some challenges in its path to joining the World Trade Organization”  It is clear based on this article that Iraq will not be voted today to be full members of the WTO…Iraq has a lot of work ahead of them.  To me, the WTO is totally irrelevant to what we seek.  Apples and oranges.  I hope we see the FULL RI process well before full accession to the WTO.

Mountain Goat – Dinar Guru   …This current Al-Sudani administration is now moving Iraq ahead, yes out of this past rut…It is right in our faces now…The train is racing down the track only to make the necessary stops along the way…It is a hard road for Iraq… There is work to be done…No more “guessing” or “hoping”. The reinstatement spigot is now wide open!  It is in our faces!…

Samson – Dinar Guru-  “Frustrating results from Iraqi Foreign Minister’s meeting with US Treasury regarding pressures on the Central Bank“

Pimpy – Dinar Guru I keep telling people, the WTO will talk about the Iraqi exchange rate but not in the sense that they’re forcing or telling Iraq they have to change their exchange rate.  That’s not what they do.  They just talk about trade and any hurdles that are between them and trade members.  They can point something out, they can make recommendations, but it’s not up the WTO when it comes to the exchange rate…I know people are telling you it’s going to be on July 18th they’re going to change the exchange rate.  No they’re not.

Militia Man -Dinar Guru  Today’s exchange rate at 1310 its reciprocal is about .0007633.  Drop those three zeros off an exchange rate and you have value to the currency.  It’s that simple.  It doesn’t make sense to anybody to print new currency as far back as 2018 with new small denominations to not have a reason for value.  It just doesn’t make sense to anybody especially when the United States is holding significant portion of Iraq dinar as are other coalition forces…All boats rise with the tide.

Fnu Lnu – Dinar Guru   [Response to Guru Henig post 3-16-2024 below] The taxation issue is not complex and I  have it directly from the taxing authority (IRS) and an agent within the IRS. The taxation will be a matter of choice (YOU DECIDE).  You may either pay tax as “REGULAR INCOME” or as Capital Gains. YOU CHOOSE! Depending on your structuring for tax  advantages…Regular Income is the easiest way to deal with the income/profits as it is amenable with classic Asset  Protection…The notion that you must have receipts is not true because you can choose Regular Income.  [Post 1 of 2….stay tuned]

Fnu Lnu – Dinar Guru   It is also not true that one must have a receipt or pay 40-50% in taxes. The tax code is  written for both kinds of people. Those who pay taxes and those who do not. Guess which side the rich are on? They use Asset  Protection…to defer and reduce…tax liabilities and anyone can do it…Do not be misled. Consult an ASSET PROTECTION ATTORNEY and forget the rest of what you hear and read.  [Post 2 of 2] [Consult your tax professionals and APA at the appropriate time to  build a tax strategy that’s right for your unique circumstances]

Sandy Ingram -Dinar Guru  A major financial change in Vietnam…Decree 52 regulates non-cash payment in Vietnam and will significantly alter Vietnam’s financial landscape...Decree 52 marks a significant milestone in Vietnam’s journey towards a cashless economy.  If you have VND bank notes you will need to find out how you can comply with Decree 52 as a foreigner.  [We] will research the topic and report back as soon as we understand the procedure.  According to the news report the banks have 24 months to comply…

Pimpy – Dinar Guru  It’s not the job of the World Trade Organization to handle Iraq’s currency exchange rate.  That’s not what they’re there for.   It’s called the World Trade Organization not the World Exchange Rate Organization.  

Mountain Goat – Dinar Guru  We heard this week that Al-Sudani again told the citizens that they can expect a “new currency” and so we know its not more of the 3 zero denominations since the CBI told us they are not going to issue the 20K note or any more other of these notes along this line.  So what could this mean? It can only mean fresh new notes of lower denominations reverting back to the currency denominations of the past and finally ditching these 3 zero notes… 

Samson – Dinar Guru  Article: “Minister of Trade arrives in Geneva to head the negotiating team for Iraq’s accession to the World Trade Organization“

Clare – Dinar Guru  Article: “Iraq resumes negotiations to join WTO”  Quote:  “The Iraqi negotiating teams have begun their preparatory meetings at the headquarters of the World Trade Organization in Geneva, in preparation for the third meeting of the working group on Iraq’s accession.”

Samson – Dinar Guru  Article: ”Negotiations for Iraq’s accession to the World Trade Organization after a 16-year absence“

Militia Man – Dinar Guru  They pushed out the HOR meeting till after this next holiday which is on the 17th…The WTO meeting they say is on the 18th unless their calendar changes.  I highly suspect that won’t be the case.  They set the stage for the presidency to be done on the 20th.  Those are the things we’re looking at today…I hope you guys understand what we’re seeing is powerful and I’m pretty excited and I think everybody else should be.  It’s really looking good…

Militia Man – Dinar Guru   This next week there’s supposedly a formal and historic meeting with the WTO and Iraq on the basis of accession… They told us it was going to be formal and historic...

Buckeyetree – Dinar Guru  …Much progress has been made from the USA trip by Sudani in April, the technology with fiber optics, electronic banking, using only the dinar, foreign contracts with huge projects, the ATMs, and the HCL practically done with Barzani in agreement for the goal not to be now counted in days rather than weeks and months. The cherry on top would be securing the Speaker of the HOR and ascension to the WTO on July 18.

Clare – Dinar Guru Article: “Baghdad calls on Washington to reconsider its sanctions on 32 Iraqi banks”  Quote:  “Nelson praised, ‘the steps taken by the Iraqi government to support the Iraqi economy and address the challenges it faces.“

Sandy Ingram – Dinar Guru  There is a high demand for US dollars in countries like Iran and Syria where local currencies have significantly devalued.  Entities in these countries are desperate to obtain…physical dollars …because they are accepted everywhere and impossible to trace…Iran and Syria find it more feasible to obtain dollars from Iraq.  The Iraqi market offers cheaper source of dollars…which impacts Iraq’s exchange rate dynamics by increasing the pressure on its currency system and contributing to dual exchange rates.

Pimpy – Dinar Guru  Article: “The stability of the exchange rate of the dinar against the dollar is real and firm” This is one of those big steps we have been looking forward to, which is stability of the currency.   We’ve talked about these a billion times – the country…government…economy and currency has to be stable.  Outside of a little back and forth with the government they seem to be doing pretty good everywhere else.  Good job Iraq.  They are now at a place in their country where the parallel market is not affecting the overall prices of their goods and services.