Dinar Observer Daily

Sandy Ingram – Dinar Guru  A Republican Senator or Representative has introduced a bill in congress to get rid of the Income tax and possibly the IRS.  This could mean NO taxes on our exchange.  There’s a long road before any of this could happen…

Clare – Dinar Guru  Article:  “Al-Sudani: We look forward to transforming Iraq into a center for world trade through the Al-Faw port project“  Quote:  “..transforming Iraq into a center for global trade between Asia and Europe through the great port of Faw project and everything related to it.” economic zones, residential communities and tourist attractions.  We look forward from this giant project, which will extend over an area of ​​more than 20 square miles, to open the way for an economic boom for Iraq,”

Militia Man – Dinar Guru   They spent somewhere around $49,429,000 in 2018…on currency issuance.  That would be for the new small category notes and potentially the fils, which are coins…March 17th there was the article that came out about the coins.  It also spoke about the deletion of the zeros.  Those 2 things go hand in hand.  Quote: “the central bank is the only one responsible for supplying the currency, bank notes and coins to the country of Iraq.”  That’s the central bank’s job.  They did that in 2018…we know they did issue currency to the tune of about just under $50 million worth and they did it for a reason. [Post 1 of 2]

Militia Man – Dinar Guru  Quote:  ‘The finance committee and the Iraqi parliament calls on the central bank to reintroduce the metal currency.’   This was on the 17th – reintroduce metal currency.  Why would you reintroduce metal currency if in fact you’re going to come out as they state in the budget – 1300?  Sounds to me from what we’ve read in the article…they have a caveat that they can amend the budget at any time… Quote:  “small coins facilitate many daily banking transactions as the use of metal denominations and their circulation will give currency a legal value.”  So not only do they have value but it’s legal…  [Post 2 of 2]

Pimpy – Dinar Guru  Article:  “Iraq Must Not Squander Another Opportunity to Rebuild”  It’s the 20th anniversary of our attack on Iraq…20 years since the start of the war, since Iraq has been “liberated”…I like to believe this time around things are going to be different.  I’m not happy about what happened with Sadr bailing out and allowing the coordinated framework to be there but so far the coordinated framework appeared to be doing all the right things.  Let’s hope they stay down that path – not for their own sake but for the sake of the Iraqi people…

Militia Man – Dinar Guru   [CBI governor Alaq talking about Iraqi dinar becoming a major currency]  The central bank is trying to reevaluate all monetary policies and to control the dollar in the parallel market expanding the circle of direct dealings in international currencies.  That was back in February…they were including…yuan…euro… yen…and dollar…Why is that important?  [Post 1 of 2]

Militia  Man – Dinar Guru  Because they’re going to try and facilitate the transfer of monies in international trade in foreign currencies … with the Iraqi dinar.  As far as I can tell that happened…I think we can take it seriously that something’s really up…the migration of the ISO-20022 is an international payment transaction system starts the 18th to 19th.  The data is out there.  It’s not something they’re gonna not do…as of yesterday they’re basically stating that they have no delays and they’re going to migrate… [Post 2 of 2]

Nader – Dinar Guru  I’m surprised the rate didn’t have changed yet too. A lot of friends of mine they’re surprised.  We see.  Monday is the 20th anniversary of Iraq.  We’ll see what’s going on...

GameofPatience – Guest Guru  the budget is waiting on the rate.  Kuwait changed their rate on 3/24/91, this year that would be the weekend of 3-25/26.  Iraq and Kuwait have the same budget periods April – March.

BobTheTaxMan – Dinar Guru  We as private holders of this currency were considered speculators anticipating gains from this revaluation …This is not tradable on the Forex.  It’s not even usable here in the United States…for us [In the United States] we’re just holders.  That’s part of the reason why it’s being treated as an ordinary income instead of a long-term capital gains.

Nader – Dinar Guru  The budget says about the exchange rate…1300.  It didn’t say 1310, 1320… Article… said the exchange rate in the budget is 1300.  I was surprised the budget has a rate in it in the first place.  The second thing, the very good news…they made it open.  They can exchange the rate anytime they want.  Why they did that?  For a reason…that means 1300 is not fixed for the next 3 years.

Clare – Dinar Guru  Article: “Shafak News publishes the draft budget law for Iraq for three years”  Quote:  “News Agency publishes the draft state budget law for the years 2023, 2024, 2025 sent by the Iraqi government to Parliament.“

Pimpy – Dinar Guru  I get a lot of people saying, ‘How come Iraq’s currency is not the same as Kuwait?’ It’s not that simple.  At one time it was very close to the same exchange rate as the Kuwait dinar...but things have changed since then…That doesn’t mean it can’t get there again.  It can.  But there’s a lot of hurdles that need to be crossed…I don’t think they’re going to get there anytime real soon.  But you will see the dinar start to go up in increments as they get their ducks in a row. It seems this administration is doing everything they can as quickly as possible to reach that level so you never know.  We’ll see where Iraq ends up…

Clare – Dinar Guru  Article “The industry opens a new window on the Arab markets for the export of aluminum sheets” Quote “The Ur State Company of the Ministry of Industry and Minerals opened, on Tuesday, a new window on the Arab markets…strengthening the economic partnership between Iraq and its Arab surroundings, pointing out that the company opened the first line to export its products through the markets of Syria and Lebanon”

Sandy Ingram – Dinar Guru   Before 1935 what was Iran called?  The answer is Persia…This may be a deep-rooted reason why Iran keeps harboring over Iraq like a lost child over and above the monetary reasons…if you look at the map…Persia included the land that is now occupied by Iran and Iraq…Iran took over the country of Persia’s name in 1935 but that does not change the DNA of the Iraqi or Iranian people...

Yada – Dinar Guru   …the activation of their debit, credit, and prepaid cards on Sunday so they can buy and sell internationally, would have to include a valid rate, not a program rate of 1300 to 1.  Believe the float will begin and we will have to option to exchange some at the low rate or wait. Mainly, the release is upon us.  I’m also of the mind since, “All Boats Rise With The Tide”, we may see a slight increase in the dong also.

Pimpy – Dinar Guru  Article:  “The Iraq parliament begins discussing the budget law”  According to their constitution they have 30 days to review this particular law…This is unique…the fact Iraq is going ahead and passing a three-year budget…I think this is a smart move.  I love the fact it’s also open for amendments if necessary.

Mountain Goat – Dinar Guru  …the Governor of the Central Bank, Ali Al-Alaq, set the objectives of monetary policy in Iraq, pointing out that he would take the necessary legal steps within the framework of the dinar being a major currency prevailing in the market in cooperation with the government. This was music to the ears…Alaq goes on with better news and I quote from the article…“the currency is a symbol of sovereignty and a title for the country, and abandoning it is tantamount to lowering the flag”. Oh my gosh! This patriotism and loyalty to Iraq is what Alaq really brings to his job and the Iraqi people…this is how we are going to get the reinstatement….  He has the brains to do it but also the willingness to do it...

Henig – Dinar Guru   Article:  “Al-Sudani Advisor: The draft approval of the budget for the coming years remains indicative and amendable”  Quote:  “The draft approval of the budget for the coming years by the Council of Ministers remains indicative and amendable according to oil prices and the nature of revenues and expenditures in the coming years…”

Militia Man – Dinar Guru   My understanding is the IMF have the ability to go as high as 3 times the Special Drawing Rights. That is what they could do…it doesn’t mean that’s what they will do. They test systems to what the region can handle. The Real Effective Exchange rate (REER)  can be derived from many different things . They are going to come up with a rate that is strong and stable and rebuild the country.

Mountain Goat – Dinar Guru  …in the news we witnessed yet another currency reform implemented by the CBI when the Central Bank decided in the ATMs to use only the local currency of the dinar.  WOW!  Previously they could use both dollars and dinars. I was also told by my CBI contact a week ago that they will soon be recalibrating the ATMs to dispense the lower denominations…

Pimpy – Dinar Guru   Article:  “Cabinet approves draft budget law for 2023, 2024 and 2025” …The budget is set for the next 3 years…For some reason it’s really hard for them to pass the budget.  So Al-Sudani did the smart thing.  He said, ‘We will pass a 3-year budget.’  What does that mean about the Iraqi dinar rate?  If they’re not going to change the budget then that means they’re not going to change the rate.  I’m not saying it can’t be changed…they can make amendments.  If something pops up and it looks like an opportunity for them to change the rate, they’ll change it but it look like everything is sent for the next 3 years.   Remember they told us they wouldn’t change the Iraqi dinar rate for at least 5 years. That ends in 2025.  Is that a coincidence?  I don’t know.  We’ll find out.

Clare – Dinar Guru  Article:  “Minister of Industry: Iraq is the first in the world in sulfur reserves“

Militia Man – Dinar Guru   Now that Alaq is back for a stint at the CBI – I think we can see we are at the last stage of the game.

Nader –  Dinar Guru   Wait till we see what’s in the budget because nobody knows what’s in the budget.  They can do whatever they want.  The budget is not out there yet.  They’re not working with it yet but they’re going to start working with it soon.  As soon as they start working with the budget things are going to change quicker.  A lot faster.  I don’t now about the exchange rate but the rest I know.  It’s going to be a lot better and it’s gonna make a lot of things better…

Pimpy – Dinar Guru   I got all kinds of people excited in my group talking about, ‘man, did you hear? …Iraq is international!‘  …I was like International?  What?  House of Pancakes?  What does that mean?  It doesn’t make any sense to me whatsoever…What do you mean they’re going international?  Nobody can answer…I don’t know what that means they’re going international…what is going international? 

Sandy Ingram – Dinar Guru   I do research on Iraq almost every day of my life.  So it would be natural for the search engines to populate information about travel to Iraq on my home page…I guess the search engines knew I wanted to travel to Iraq but I would never type that into the search so it may be true that Google and Bing know more about us than we know about ourselves…Those of you who would say at this point what does this have to do with the IQD exchange rate?  I say to you – everything.  Connect the dots people.  Connect the dots.

Pimpy – Dinar Guru  As far as the Iraq dinar being stronger than the US dollar – not right now. But eventually they’ll get there I absolutely believe that.  Not right away but not too far away neither…

Pimpy – Dinar Guru  Nothing in this world would make me happier than to wake up tomorrow and find out that they did change the rate to $3 or whatever the hell it is that people keep saying…and me be wrong…I’d come on here…apologizing, telling everybody how wrong I was…

Militia Man – Dinar Guru  At this stage of the game we’re in a good place…