Dinar Observer Daily

Dinar Investor – Jeff   Article:  “Iraq presents to the US Treasury date for abandoning the currency auctions”  The auctions will end or be abandoned the day the rate changes.  The rate will change on a Sunday morning.  That’s when the currency auctions will end, when the rate changes.  This article’s saying the currency auctions will end by year end.  They’re talking to US officials…They’re just making a generalized statement, saying by year end…So by the end of December…the currency auctions will end meaning the rate would have to change allowing the auctions to end…

Pimpy – Dinar Guru   Unfortunately it is everywhere.  Protests are happening in Jordan, Turkey, Iraq…For those of us invested in the Iraqi dinar we’re definitely paying attention to what’s going on over there in Iraq because it could have an effect on the Iraqi dinar if we can’t get things calmed down.  We’ll keep an eye on it and see what happens…

Militia Man – Dinar Guru   Alaq says we’re going to enhance the confidence in the dinar…Remember what Sudani said.  He warned the citizens twice at least, to be careful with your dinar.  Don’t get rid of it.  It’s going to be stronger.  Openly, the two big guys, Iraq prime minister and Iraq Central Bank governor has told the citizens…we’re going to bring value.

Sandy Ingram – Dinar Guru  Tensions are soaring in Iraq following the reported death of Hezbollah leader Hassan Nasrallah...Thousands of angry Iraqi demonstrators converged on the US embassy in Baghdad, where they attempted to storm the compound, clashing with security forces armed in riot gear…Their fury has added to the growing unrest in Baghdad, where the situation has become increasingly volatile.  In response to the escalating crisis, security measures have been significantly ramped up in the city’s fortified Green Zone, but protests continue to intensify as anger spreads.  The situation remains fluid with heightened fears of further violence.  

Mountain Goat – Dinar Guru  “CENTRAL BANK GOVERNOR ANNOUNCES SUCCESS OF DIGITAL TRANSFORMATION PLAN IN IRAQ” …the CBI has told us just recently that Electronic Banking is an important step in the currency reform and banking process…WOW! WOW! WOW!  I do not think he is saying final success only that there is good success so far…we were told the goal is about 80% of the working citizens. Quote:  “it clearly indicates the success of the digital transformation and electronic payment plan, and the percentage rose from 20 percent a few years ago to 48.5 percent”

Clare – Dinar Guru  Article: “Al-Sudani postpones his visit to the United Kingdom due to regional and international developments“

Militia Man – Dinar Guru Article quote “Central Bank seeks to withdraw excess liquidity”  When the central bank of  Iraq is removing excess liquidity, that’s taking in dinar, what does that do?  Enhances the value of the currency – Supply and  Demand.  Reduce the note count, the value goes up...That’s the way it’s always worked and it always will IMO.

Pimpy – Dinar Guru  Article: “Iraqi authorities close Green Zone gate amid Shiite protests over Nasrallah’s  assassination”  Things are so bad Iraq has now had to close the green zone.  We haven’t heard about them closing the green zone in at least two-three years.  They’ve been open that long.

Clare – Dinar Guru  Article:  “What would happen to the Iraqi dinar if the zeros were removed? Comment by Dr. Mahmoud Dagher”  Quote: “Economist Mahmoud Dagher pointed out that deleting zeros will not change…the purchasing power of the dinar…Instead of carrying a bundle of 50,000 dinar notes, it will be possible to compress them into a smaller number of notes after removing the zeros, and this will not change their purchasing power. The amount of money on offer…is equal to 105 trillion dinars, and after removing the zeros, the amount will be 105 billion dinars, which is exactly the same amount, and the exchange rate will change from 1320 dinars per dollar to 132 dinars per dollar.“

Militia Man – Dinar Guru  In the last week or so…there’s probably five or six articles specifically talking about removing zeros from the Iraqi dinar… Quote:  “…this is done by removing a specific number of zeros from the nominal value of the currency.”  From the value of the currency not the currency notes but the value of the currency…

Pimpy – Dinar Guru  Article: “Thousands of protesters trying to storm US embassy is Baghdad after Nasrallah killing”  Iraqi protesters are trying to storm the US Embassy in Baghdad…How does that affect Iraqi dinar holders?  The last thing you need is for there to be an unstable country with protesters tying to storm the US Embassy…

Kaperoni – Dinar Guru   Community Comment:  “The US Embassy in Iraq is under siege I’m old enough to remember the last time a middle eastern embassy was under siege with a weak president…I hope this ends better…Pray for US personnel in Iraq”   Not good.

Militia Man – Dinar Guru  Article: “Minister of Transport announces the establishment of the Joint Maritime Authority between Iraq and Britain” …Massive amounts of trade is coming to the ports of Iraq… I suspect Al-Sudani and his teams are fully aware of the priorities needed to make it all happen.

Clare -Dinar Guru  Article Quote: “Mazhar Mohammed Saleh, economic affairs advisor to Prime Minister Mohammed Shia al-Sudani, described the banking system in Iraq as rentier par excellence…noting that this requires a comprehensive reform process…Saleh stressed that this requires a comprehensive reform process to create market institutions, indicating that this enables the banking market to be integrated with the international financial and banking system and become attractive to global banks on a large scale.“

Kaperoni – Dinar Guru  This is a good quote from that article “The expected path of the Iraqi economy”  Quote: “The most important indicator, in my opinion, is that despite all the attempts to put obstacles in the way of economic development, intentionally or unintentionally, the government is moving forward with its program, leaving all attempts at obstruction in its wake, and this is one of the secrets of success and the key to hope.”

Sandy Ingram – Dinar Guru  One significant difference between Iraq and many other developing and established countries is Iraq’s consistent willingness to pay down debt.  Iraq’s foreign debt has now fallen to below $10 billion dollars according to Saleh, financial advisor to the Iraqi Prime Minister…Provisions have been set aside…to ensure these obligations
are met…These external debts are largely tied to the Paris Club Agreement …Iraq is on track to fully pay these obligation by 2028.  Saleh highlighted the importance of Iraq’s relatively low level of foreign debt, noting it has significantly improved the country’s financial standing in the eyes of global credit rating agencies, including the US based S & P.  

Dinar Investor – Jeff   World Trade [Organization]…one of the major things Iraq needs to really move forward towards membership is they need their MFTR [Memorandum of Foreign Trade Regime] completed… Article Quote: “The completion of all these requirements was confirmed in March of 2024.”  Iraq’s next meeting is roughly November 6th through the 8th.  They will…have all steps complete.  That’s when they would be eligible.  Their 30 days towards membership would start right around early November…Full member probably by the end of December of this year.

Militia Man – Dinar Guru  They will need to have an international IMF Article XIV and Article VIII compliant currency.  One that the Central Banks can defend and likely in a very fast and efficient manner with the most advance systems in the world. The focus in the future is going to be instantaneous cross border payments 365/24/7 and no blackouts with little cost. It is now the time to be paying attention…

Samson – Dinar Guru  Article: “Wardastan deposits about 100 billion dinars of non-oil revenues in the Iraqi state treasury“

Militia Man – Dinar Guru  Al Sudani said Article quote “The time has come for Iraq to take its natural place in the  international community.”  I think that’s going to resonate with every one of us…Get ready.  Pay attention...

Sandy Ingram – Dinar Guru   [We] keep hearing about international standards from the Central Bank of Iraq.  We can only hope that this means the country will be joining the international community in the foreseeable future.

Samson – Dinar Guru  Article:  “Al-Sudani returns to Baghdad after participating in the UN General Assembly meetings“

Militia Man – Dinar Guru  Iraq is talking about “economic confidence”, “consumption”, “investment”, all of these things.  At 1310?  I don’t think so.  I don’t think that’s what they’re talking about.  I really don’t think Iraq is going to be the savior of the international financial system or bring any confidence to the world at 1310.  Because they’ve been at 1310, 1180, 1166, 1182…1460…but have they done anything about it?  Are they internationally on the Forex trading?  No..

Mountain Goat – Dinar Guru  …my CBI contact told us the committee was planning to begin the roll out of the currency swap out in November… You will not see the US Treasury leave the CBI until this is done and the Project to Delete the Zeros (swap out) is completed.

Samson – Dinar Guru   Article:  “Treasury praises growth of non-oil economy in Iraq“

Clare – Dinar Guru  Article:  “A specialist details the negatives and positives of removing zeros from the Iraqi currency”  Quote: “Al-Mawsumi said…The process of removing zeros from the currency means replacing a new currency with the old currency with the aim of simplifying the accounting process between consumers, and it is often resorted to by countries that suffer from high inflation and have become unable to deal with paper currencies of very weak value…Deleting zeros is an imaginary change in the value of the currency and does not change its purchasing power.“

Militia Man – Dinar Guru  Article:  “US support for Iraq’s reform steps.. Non-oil GDP indicators rise and exceed twice the population growth rate”  They are clearly hammering the concept of Iraq’s ability to reform her banking and financial sectors among the many other sectors, namely the non-oil sectors. They have had a significant focus on the 6% growth rate in revenues… There is also a focus on the international financial connectivity…Thus, with the focus they have on these topics we can see that they mean business…

Dinar Investor – Jeff  Iraq can only change the rate at one or two points in the year, beginning or the middle of the year.  That was stated by Shabibi.  If Iraq was going to revalue at any of those times you would see them increase their steps and actions preparing to revalue.  In this month of September those steps has occurred.  They have increased their actions getting critical steps…laws done.  They have tremendously ramped up.

Samson – Dinar Guru  “The Central Bank of Iraq is required by the Federal Reserve to stop the platform, liquidate banks and merge others“

Clare – Dinar Guru  Article:  “Al-Sudani concludes his visit to New York by meeting Guterres, who praised the discussions to end UNAMI’s work in Iraq“