Dinar Observer Daily

Sandy Ingram – Dinar Guru   10 weakest currencies in the world:  The value of a currency depends on supply and demand while some are pegged, meaning the currency is valued at an agreed rate.  The foreign exchange rate is an indicator of a country’s economic wealth.  #10 The Iraqi dinar – inflation and political instability are the given reasons.  #9 Ugandan shilling (USH)… #8 Paraguayan Guarani (PYG)…land locked in South America #7 Guinean Franc (GNF)… #6 Uzbekistani Som (UZS) 1 USD = 12,501 UZS  #5 Indonesian Rupiah (IDR)  #4 Laotian Kip (LAK)…only land locked country in Southeast Asia.  #3 Sierra Leonean Leone (SLL). #2 Vietnam Dong (VND) #1 Iranian Rial (IRR)

Pimpy – Dinar Guru  Article:  “The central bank announces the increase in the size of its reserves to more than $100 billion…”  That’s adding a lot of money to the amount they already had…  This is awesome for Iraq because having those foreign currency receivers does a great job in stabilizing your currency, supporting it and making it stronger…

Samson – Dinar Guru  Article:  “The central bank announces the increase in the size of its reserves to more than $100 billion.”

Militia Man – Dinar Guru  There’s a quietness from the WTO when it comes to Iraq…Why did they do that?  We can speculate on that.  The truth be told is Iraq…would have more impact on the economic situation in the global financial system…It’s a big thing, a very big thing that the WTO lifted up two of the smallest lower developed countries in the world but they didn’t talk about one that was going to fix the financial system in the world.  They didn’t talk about Iraq…Why?  The shocks that the World Bank talked about.  You can’t go and shock the whole world…and not have everybody ready because that’s going to cause chaos…

Pimpy – Dinar Guru   Yeah, I know, we’re all doing the pee-pee dance.  But don’t get overly excited because Iraq has a way of letting people down sometimes.  Let’s stay grounded.  There are other issues out there that we still got to tackle.  But for the most part a big chunk of what we were hoping would happen is starting to happen now…Everything is looking really good. The next thing we got to wait for is the member states to vote Iraq back into the World Trade Organization and see what it’s going to take to get them on Forex…

Clare – Dinar Guru  Article: “Iraq is looking forward to joining the World Trade Organization”  Quote “riday, the Ministry of Commerce confirmed the government’s aspiration to join the World Trade Organization, especially after the Saudi representative in the organization, Saqr Al-Muqbel, was named to manage Iraq’s accession file, noting that his recent visit to Baghdad contributed to addressing a number of important files”  

Militia Man – Dinar Guru  They’re holding this 2023, 24, 25 budget close to the chest.  Why?  Because they need to wait for that special moment in time…  

Samson – Dinar Guru  Article: “Iraq is looking forward to joining the World Trade Organization”  

Kaperoni – Dinar Guru   If Iraq is ever going to raise the value of the dinar they need to do it gradually over time so they can reduce the money supply. As well, a gradual increase reflects the economic growth of the economy.

Pimpy – Dinar Guru  Article: “Sudani: Investment environment in Iraq is promising and open”  Remember they have to be able to draw in foreign investors.  As long as the country appears to be stable, the economy looks to be stable, the exchange rate looks to be stable, the currency looks to be stable, it’s all promising…this is all great news.  This is one hell of a day for Iraq…

Clare – Dinar Guru   Article:  “Iraq is looking forward to joining the World Trade Organization“   Quote:  “Iraq has today become a major economic player on the world level and needs to harmonize Iraqi laws with international laws.“

Pimpy – Dinar Guru  Today easily has got to be one of the best days of news for Iraq I’ve seen in a long time.  They have been busting their asses to get their country in line to get back out and do business on the international market…One great article after another…

Harlequinc3 – Dinar Guru   Question:  “I don’t have any receipts of currency i bought 14 years ago…is that a problem to exchange it when the event happens?”  Only in the event of an audit for taxation. The bank won’t care in the slightest when and where you got your dinar — as long as it’s valid currency. All the receipt proves is WHEN you bought your dinar — which only matters to entities like the IRS, because the tax bracket for capital gains changes depending on how LONG you’ve had the asset.

Clare – Dinar Guru   Article quote:  “Parliamentary agreement with the European Union mission: European financial and banking institutions are preparing to invest in Iraq”

Sandy Ingram – Dinar Guru   US Department of State Website Article: “Secretary Antony J. Blinken and Kurdistan Regional Government Prime Minister Masrour Barzani Before Their Meeting”  The Iraqi Kurdistan prime minister has not been in Iraq at all for several days, but in Washington DC, meeting with Secretary Blinken.  They are discussing what went down in the first quarter of this year in Iraq.

Militia Man – Dinar Guru  Iraq has the attention of the world when it comes to ascension [into the WTO].  We have more than…the WTO, We have the World Bank…the ITC…Saudi Arabia….Armenia, the International Foundation for Corporations…What do they need with that?  They need freedom of capital movement.  That’s article VIII compliance…What a time to be an investor in the Iraqi dinar…

Pimpy – Dinar Guru   Here’s the biggie everybody is celebrating.  We’re not there yet but very close. Article:  “Iraq has completed requirements to join WTO: Minister”  We have to wait till they get voted in.  Yes they completed all the steps.  Let’s hope they keep their nose out of trouble and finally get accepted…Iraq is right there at the cusp, man, it really is.  This is big news.

Mountain Goat – Dinar Guru   some…recent…very interesting and informative news articles we can use to help connect the dots about what is going on with the Project to Delete the Zeros…all fantastic news but just news for now. The actual execution part is coming VERY SOON but not yet!  …I  am still staying VERY excited but remember Iraq does not work on our schedule…Just relax it is coming and we must just follow the news and see what happens next…

Militia Man – Dinar Guru  Iraq is going to have a lot of inflows.  They’re going to need to make things stable…To be able to defend their currency they’re going to need to keep pricing stable…All these guys, the World Trade Organization all know that.

Pimpy – Dinar Guru  We personally do not exchange our currency with Iraq.  What happens is if the sanctions are lifted, they revalue the currency, we take our currency down to our banks, we exchange the Iraqi dinar for US dollars…If that bank…buys and sell foreign currencies they would keep it on their books as an asset.  If they turn it over to the Federal Reserve then the Federal Reserve would be dealing with Iraq as far as swapping the US dollar for the Iraqi dinar but most banks are going to keep it on their books.    [Post 1 of 2….stay tuned]

Pimpy – Dinar Guru    That’s why you don’t have to worry about whether Iraq has enough US dollars.  It’s going to be whether your bank has enough dollars and since everything’s going to be digital there’s not going to be a problem with that.  That’s how it’s going to happen all around the world.  You’re going to be able to go into your bank, exchange your IQD and that’s who you’re exchanging it with.  Iraq does not have to have all those US dollars to cover the IQD because banks are going to hold them on their books as foreign reserve assets.   [Post 2 of 2]

Dinar Investor – Jeff  Article: “Iraq completes requirements to join WTO”  Quote:  “The Iraqi minister of Trade…affirmed that Iraq fulfilled the conditions necessary to become a member of the World Trade Organization (WTO) following the completion of economic reforms and the enhancement of the investment climate.“

Clare – Dinar Guru  Article: “Iraq completes requirements to join WTO”  Quote: “The Iraqi Minister of Trade, Atheer Al-Ghurairi, affirmed that Iraq fulfilled the conditions necessary to become a member of the World Trade Organization (WTO) following the completion of economic reforms and the enhancement of the investment climate.“

Samson – Dinar Guru   Article:   “UPDATE:  Ministerial Conference Thirteenth Session Abu Dhabi, 26-29 February 2024 ”  Quote:  “The National Committee on Iraq’s Accession to WTO has made distinguished efforts to align domestic legislation and laws with WTO Agreements and have the technical requirements of accession fulfilled.“

Militia Man – Dinar Guru    How are you going to finance one of the biggest world projects at 1310 when your valuation of your country is far greater than any other country in the region per kilometer? …What value are they going to use to value the operational side of of the budget for 2023 and investment side for 2023?  …If they haven’t gone to a private sector at 1310 obviously there’s an circumstance that suggests they’re not going to into a private sector at 1310…

Pimpy – Dinar Guru  Question: “How is the development road project going to be funded at 1310?”  The development road  project is not the world’s largest project.  It’s not even in the top 20.  But it is a very expensive project...Pay close  attention… Article quote “This year’s budget is Iraq’s largest at 198.9 trillion Iraqi dinars, about $153 billion based on the  exchange rate.  The 2024 and 2025 budgets will be the same unless the cabinet requests any changes and parliament approves them.“   This budget has already calculated...What did it say in the article?  ‘With the current exchange rate.  And what is the current  exchange rate?  1310 dinars per dollar.

Clare – Dinar Guru  Article: “Prime Minister: The government has placed the issue of economic and banking reform among its most important priorities“

Militia Man – Dinar Guru  Everything we’ve been seeing in the news…is quite intense in respect to a lot of the things we’ve been talking about... Article:  “Iraq’s Minister of Trade: We seek to join the World Trade Organization and expand our economic relations with the world”  That’s pretty bold.  Quote: “…Iraq is now able to enter the global trade market through the organization on a large scale.”  There you have it…That is a massive quote.

Vinterv – Guest Guru   Article:  “Iraq has completed requirements to join WTO”  Quote:  ” …Minister of Commerce of Iraq, has confirmed that Iraq has completed the requirements to join the World Trade Organisation (WTO) after completing economic reforms and improving the business environment.“

Militia Man – Dinar Guru  Article quote: “…Because accession represents and urgent priority the government seeks to meet its requirements..”    Urgent priority…Whether they do it this week or not is going to be determined but I tell you what, it sure is looking like they have come a long way.  This is a big set of [WTO] meetings.