Dinar Observer Daily

Sandy Ingram – Dinar Guru  The Central Bank of Iraq confirmed some Iraqi banks are transferring dollars from their accounts to intermediary banks who are distributing the dollars to their customers.  The Central Bank of Iraq said this will contribute to reducing the exchange rate of the parallel dollar…[We’re] thinking this is to keep the black market intact. This means the decision to only use Iraqi dinar in all transactions beginning January 1, 2024 may cause concerns and the Central Bank of Iraq is making moves to control any possible issues.

Pimpy – Dinar Guru   Still today I can’t find any news so called restrictions removed.  No restrictions have been removed yet.

Militia Man – Dinar Guru   Article:  “It’s time for the Iraqi economy to be linked to the global economic cycle.  Al-Sudani stresses the government’s endeavors to achieve an industry that exports its product outside Iraq.”  That’s exactly what we need.  Everybody knows Iraq has been an import country and they’ve been using oil as a revenue stream.  Now they’re going to go from a rentier oil industry to a non-oil revenue stream country…You have the industrial cities, liquid natural gas, tourism, agriculture…Iraq is filthy with minerals.

Pimpy – Dinar Guru   Article:  “Central Bank reveals two agreements during joint Iraqi delegation talks in Turkey”  This agreement with Turkey allows…merchants to purchase goods from each other’s country using their own currency.  If I’m a merchant in Iraq and I want to buy goods from over there in Turkey to sell in my store I can purchase those goods using Iraqi dinars and vice versa.  If I’m a merchant in Turkey and I want to buy some goods that I can sell in my store over here in Turkey I can use the Euro or the Lera and then the banks will settle the issue with the two currencies.  That’s why they [the banks] do currency swaps.  These are pretty big hurdles Iraq has managed to get over.  Let’s hope they continue down this path and nothing bad happens…

Mountain Goat – Dinar Guru   …The rate is NOT going to start at 1/6 of a penny and climb from there when it does get reinstated. The rate has to reflect the TRUE rate of the value of the assets Iraq now holds. Not the value of an intentional, sanctioned, suppressed currency. Why would they even bother to do all this work for the banking, financial and currency reforms if they were just going to leave the rate at 1/6 of a penny?

Pimpy – Dinar Guru   Sovereignty means freedom.  That means you’re in control.  Nobody else tells you what you can and can’t do with your country, with your currency or anything else.  That’s the whole purpose of sovereignty.  Iraq wants control of their currency.  This is what we want for them to do…We have to make sure the people that are in control don’t screw things up…Let’s hope Iraq is ready to do this because if not it really could be a major setback…

Clare – Dinar Guru  Article: “Al-Sudani:  We have natural resources that enable us to export products outside Iraq ”  Quote “Prime Minister Muhammad Shiaa Al-Sudani said on Saturday that Iraq has the natural resources that qualify it to meet the market’s need for local products and export the surplus outside the country.”

Nader – Dinar Guru   The revolution of the dinar exists, yes.  Is going to revalue?  Yes.  When?  I don’t know.  It can be now.  It can be next month.  It can be 2 years from now.  It can be 5 years form now.  You know people are going to hate this but the reality is there…You have to be a realist…You know it’s going to revalue.

Breitling – Dinar Guru   Question:  “Why haven’t all the big sharks bought in anticipation of the RI?”  Who says they haven’t?  I told you guys with some of the companies that I’ve worked with we did research and we had contact with a lot of senators and congressmen from both sides of the aisle, they all have it.  They all have Iraqi dinar.  They have other currencies too.

Militia Man – Dinar Guru  The last two weeks what did they do?  They [countries around the world] opened ‘corresponding banks’ with Iraq.  To do what ?  To facilitate trade.  Through what?  All these different currencies.  Is it fact or is it fiction?  It’s a fact.  I deal in facts.  I deal in truth.  I deal in data.  Article quote:  “With the assistance of the Untied States…there is opening of accounts or correspondent banks which have now reached more than 40 new accounts.“

Pimpy – Dinar Guru  I found the steps Iraq would need to take in order to reinstate its $3.22 rate…Stabilize the economy by addressing issues such as inflation, unemployment and corruption…diversifying the economy beyond oil dependence…Monetary policy – To reinstate a specific exchange rate the Central Bank of Iraq would need to implement appropriate measures…like interest rates, reserve requirements and open market operations.  Third, Foreign Reserves – Iraq’s foreign reserves…The more they get the better it is for them…particularly the US dollar would provide the CBI with the necessary resources to support the desired exchange rate… [Post 1 of 2]

Pimpy – Dinar Guru  Currency Auctions…Adjusting the auction mechanisms and policies could help control the supply and demand dynamics of the IQD…Fifth, Government of Iraq – Investors…have to feel their investment is secure.  Having a stable government and stable economy goes a long way.  Political stability…that encourages domestic and foreign investment …Lastly, International Support…IMF and World Bank…these organization can provide financial aid, technical assistance and guidance on implementing economic reforms…Those are the steps necessary to reinstate the $3.22 rate.  I still think it’ll go up in increments just so they can make sure there is stability in the economy without bankrupting themselves…   [Post 2 of 2]

Pimpy – Dinar Guru  We all agree that it appears Iraq is headed in the right direction.  That’s always a good sign.

Dinar Investor – Jeff  Back in mid-September Sudani went to the UN meeting in New York.  He stressed and put a huge emphasis on…cleaning, tackling and removing corruption.  Since that point they’ve had a lot of articles coming out talking about combating corruption…This is what you’re waiting on for the rate change…This is the central banks absolute #1 requirement in order to revalue…

Militia Man – Dinar Guru  Iraq’s assistance for ascension is a key indicator especially when they’re talking about post ascension.  That is powerful because if they’re talking about post ascension it gives you the heads up that the game’s on – They’re ready to finish it…

Pimpy – Dinar Guru  Articles that we spoke about pertaining to the importing of foreign currencies is a great thing for Iraq but they need more than just that to move forward with increasing the Iraqi dinar.  Now, having said that, that is a great huge first step.  That isn’t a small thing.  That’s big.  The other things are making sure your government and economy are stable.   That is something within their grasp if they could just work together.

Clare – Dinar Guru  Article:  “Intensive Iraqi-American meetings in the Emirates result in important decisions regarding external transfers of the dollar”  Quote: “The official Iraqi News Agency quoted a government source as saying that intensive meetings took place during the past few days in Abu Dhabi between a delegation from the Central Bank of Iraq and the American side responsible for foreign transfer operations to cover imports, indicating that the negotiations culminated in a number of decisions and mechanisms that contribute to facilitating procedures. Regarding external transfers related to imports through the foreign currency sales window.”

Pimpy – Dinar Guru  I believe the dinar is going to go up in value in such a way that it’s going to create a bunch of millionaires.

Militia Man – Dinar Guru  At the moment we’re at 1310.  If you drop 3 zeros you have a number…The dinar at 1000…drop the 3 zeros, what are you at?  You’re at 1 to 1.  That’s the project to delete the zeros off the exchange rate.  Not the currency.  The exchange rate.

Clare – Dinar Guru  Article: “Central Bank: Inflation rates in Iraq are low and their percentage is acceptable compared to countries in the region”

Militia Man – Dinar Guru    The second workshop the UNCTAD will put on through 11-14 November 2023.   It is for Iraq’s on going preparation for WTO accession… They are in it to the end now. They are in a place where they can have accession at anytime that the check boxes are checked…They are not waiting on any distant time frame. It is all a part of the process that they have to go through and the completion stage they are in…Just note, post assistance for Iraq and for after accession is a key indicator that they are in the completion phase..

Pimpy – Dinar Guru  Importing of foreign exchange, that was a huge step for Iraq but don’t count chickens before they hatch.  Hopefully they don’t do anything to mess it up…  There’s somebody in there challenging this…On the face of things with everything that’s going on with Iraq…trying to open up to the international community…trying to bring prosperity to the people…trying to get rid of the United States as a babysitter, them wanting their own sovereignty back, I just don’t understand how anybody would ever think about challenging this.  [Post 1 of 2]

Pimpy – Dinar Guru   The only people I could think of would be the corrupt people.  As long as there’s a black market well then they get to make a lot of money off of it.  IMO it’s most likely somebody with the political party, I don’t want to name no names, Maliki, but I’m guessing it’s got to be somebody from the Coordinating Framework that is opposing this.  Because if you do allow them to import foreign exchanges and the currencies are coming into the bank it makes it really hard for there to be a black market especially if the Iraqi dinar starts going up in value…No need to panic…Positive Juju…come on everybody, positive Juju.  Everything is going to go according to plan…   [Post 2 of 2]

Militia Man – Dinar Guru   Article quote:  “It’s not possible to import the dollar and secure in the local market without registering the dinar in the basket of Arab and international currencies.”  Bing!  Wow, what did they just say? …That’s like going back to where they were in the past, that ‘previous era’…

Clare – Dinar Guru  Article:  “Economist: It is not possible to mint an Iraqi coin currently, and inflation is a thousand times high ”

Militia Man – Dinar Guru   They just told you their natural resource wealth is just phenomenal.  They’re telling you their taxes and tariffs at the border have been activated…tourism…all of that.  What do you really know about what you own.   Pay attention to that.

Pimpy – Dinar Guru   I still think it’s going to go up in increments.  That’s because there’s too many factors that have to be looked at in order for an RI to actually happen.  Now I’m not saying it’s impossible…Know a lot of you out there get pissy about what I say.  Look, it’s just my option and I share why I come up with that opinion.  For all I know tomorrow we wake up and they reinstated a $3.22 rate.  That would be awesome and people are like well, well pimpy was wrong…That’s one time I won’t be depressed about being wrong…

Clare – Dinar Guru  Article:  “Misdemeanor Integrity Court: Iraq has come a long way to get off the money laundering blacklist“

Militia Man – Dinar Guru  You can’t vote on the hydrocarbon law for the citizens without revaluation.  You have to have value…Just like the World Trade Organization.  You have to have a value for ascension.  That’s my view….I think it’s falling into place.  It’s really looking kind of cool…

Pimpy – Dinar Guru   Now that Iraq is doing this with the Central Bank, the import of Foreign Exchange does that help the currency at all?  …This is a sanction that was lifted.  This is opening the door for Iraq to start doing trade again with the international community…