Dinar Observer Daily

Mountain Goat – Dinar Guru  Ali Al-Alaq is still the acting Director of the CBI just as we were told by my CBI contact the GOI never did accept his resignation. The goals are still the same as they want to eliminate this Black Market corruption with the dollar and set the rate first at par with the official CBI rate. Then once this is in control, they intend to change the official rate and the rest is history as the saga of the currency swap out can then occur.

Clare – Dinar Guru  Article “Will Parliament resort to the courts to dismiss Al-Alaq?” Quote “the Governor of the Central Bank, Ali Al-Alaq, refused the request to host him in Parliament, while threatening to resort to the courts to file a complaint against the negligent.”

Militia Man – Dinar Guru  Iraq’s going to be going international in the near future.  They are already under the process 100% as far as I’m concerned…

Pimpy – Dinar Guru  Don’t be discouraged.  Everything is on track.  Iraq is doing what they need to do to get out of  trouble.  Leaving the 3 zeros on puts a smile on my face.  Only if the exchange rate would change, that would be a great combination…

Jeff – Dinar Guru This investment is coming together thoroughly.  You can see it coming together like clockwork.

Clare – Dinar Guru  Article:  “Al-Sudani heads to New York to participate in UN General Assembly meetings”   Quote:  “Prime Minister Mohammed Shia Al-Sudani will head to New York…Saturday, to participate in the meetings of the 79th session of the United Nations General Assembly.“

Samson – Dinar Guru  “Sudanese leaves for New York next weekend to participate in UN General Assembly meetings“

Militia Man – Dinar Guru  I looked today on the Ministry of Judiciary, their official gazette, and 4782 [The skipped issue that’s potentially holding the budget] is not there.  Again, there’s a reason for it it.  Does it mean it’s not done?  I don’t know.  But it’s not there…It doesn’t mean it’s not going to be.

Mountain Goat – Dinar Guru   Article Quote:  “Iraqi banks have the qualifications to switch to the electronic system, noting that “the transformation of the financial sector to the electronic system with credit cards will pave the way for attracting international investments and increasing confidence in the Iraqi economy.” I have to say it is all just about implementing the Electronic Payment and Inclusion of the banks into this new process…the CBI and the Finance Committee…are committed now to complete this effort, and I believe they are way beyond our expectations of just where they currently stand in this effort…In short summary, is this not what we all want to happen so they can pull the trigger on this revaluation and reinstatement.

Militia Man – Dinar Guru  What we’re seeing and witnessing is something we’ve never seen before and not at this level…Something’s a foot and I think it’s a powerful time frame for us to see something different with Iraq.

Samson – Dinar Guru  Article: ”Al-Sudani leaves for New York early next week to participate in the UN General Assembly meetings“

Sandy Ingram – Dinar Guru   If the IQD were revalued to $0.25 to 1 Iraq dinar, based on 1 million IQD you would profit $250,000.  Your tax liability just on the $250,000 would place you at a 35% tax rate… Your tax would be $83,188 [Single/No Dependents]…You would only receive $166,812…Let’s say the IQD readjusts to $0.80 to 1…That would be a profit of $800,000 minus the fees to exchange…You would be taxed at 37%…This would be $284,901 owed in taxes.  You would only receive $515,000.  This does not include your state taxes…This is not a game…No one said it was fair.  [I] do not want to hear about what a new president will do because if this happens within the next year a new president cannot help you.  Congress has to vote on new tax laws. [Dinar Guru Note:  Consult your tax professionals at the appropriate time to create a tax strategy specific to your unique circumstances.]

Pimpy – Dinar Guru   I want the same thing you do.  Trust me, I would love nothing better to wake up in the morning and find out that the zeros are still on the dinar but they’ve magically changed the exchange rate to $3.22.  That would be awesome.

Clare – Dinar Guru  Article: ”Al-Sudani leaves for New York early next week to participate in the UN General Assembly meetings“

Militia Man – Dinar Guru   Article Quote: “Alaq…points out the decline in the price of oil has nothing to do with the rise in the exchange rate because Iraq has reserves for foreign currencies which enables it to defend the exchange rate.”  That’s what central banks do my friends.  They defend the exchange rate.  That does not matter whether it’s at 1310, which they’ve done, or if it’s going to be at whatever the Real Effective Exchange Rate is going to be in the future.  They’ve worked this out.  This isn’t something brand new.  They know what they’re doing.  The drop the 3-zeros project is still…going to be applied.

Mountain Goat – Dinar Guru  …Most already tell us Iraq is filthy rich and they are…Right now the Kuwaiti dinar is one of the highest valued currencies in the world…If you proportionately look at Iraq and compare its ability to generate wealth it can far out produce Kuwait. Why then is the KWD at $3+ and the IQD at about $.006?

Pimpy – Dinar Guru   Question: “What does Iraq need to do right now to reinstate their old rate of $3.22?”  Professor Boskin [of economics] graciously shared the following information which I am pleased to relay to you…It should be able to give you an idea of how far away this thing might be…The first thing he’s talking about is implementing monetary reforms.  PIMPY:   We’ve been hearing about that for years so we know they definitely are implementing monetary reforms. PROFESSOR: …The Central Bank of Iraq may consider removing zeros… PIMPY:    Obviously if they’re going to remove the zeros off the currency, they’re going to re-denominate and print new bank notes.  PROFESSOR:  Establish a currency basket system…the value of the dinar would be determined against a weighted average of several currencies… [Post 1 of 2….stay tuned]

Pimpy – Dinar Guru  PROFESSOR Continued:  Reduce their dependency on the dollar.  PIMPY:  At the beginning of this year they were not supposed to use the US dollar anymore.  PROFESSOR:  …Focus on diversifying its economy beyond oil dependency… PIMPY: Right now…only 89% of [the budget] is dependent on oil sales.  A lot better than where it was.  PROFESSOR: Improve trade balance…Enhancing exports…Reducing unnecessary imports …thereby supporting a stronger dinar.  PIMPY:  They have things to trade but not a whole lot of options.  PROFESSOR:  Maintain internal stability…Monitor inflation rates… PIMPY:   Right now Iraq is somewhere around 5%…He’s saying if they want to reinstate the $3.22 rate these things have to be taken care of.  I do find it interesting we’ve been listening to them talk about deleting the zeros and he’s put that in here…A lot of this stuff Iraq has already started…Kudos to Al-Sudani.  [Post 2 of 2]

Militia Man – Dinar Guru The digital transformation is here and it’s only going to grow and grow and grow in totality…When they’re going from a cash economy to a digitized cashless economy, is going to have what?  Article VIII compliant currency on an international global Forex market.  That’s what we should expect at any time…

Militia Man – Dinar Guru  I believe the Iraqi dinar is going to change value…and the citizens believe that too.  I believe Sudani has literally spoken those words…the dinar, it’s going to be stronger than the dollar.  He said those things on a couple of occasions.

Clare – Dinar Guru  Article: “Parliamentary Finance to Employees: Your Salaries Are Secured for This Year and Next Year Even if Oil Drops”

Mountain Goat – Dinar Guru  Article:  “AFTER THE DECLINE IN OIL, A GOVERNMENT ADVISOR: WE HAVE THE CAPABILITIES TO CONFRONT THE PROBLEMS OF THE GLOBAL ECONOMY”  I consider this one of those WOW! articles.  Quote: “the highest reserves in the country’s monetary and financial history” also “the growth indicators in the non-oil GDP have touched 6%”  WOW!

Pimpy – Dinar Guru  I just read an article not that long ago that said oil sales are now 89% of their budget which is good.  Remember it was 96% of their budget…Iraq is going in the right direction but they still rely on oil sales way too much…If Iraq starts stumbling and the prices drop low for oil per barrel then they start operating in the deficit…If it keeps dropping and gets too low then they’re going to have no choice but to…devalue the Iraq dinar…No body said they’re doing it.  I’m just saying we really got to pay attention to the price of oil per barrel because if it gets too low they don’t need to tell us what’s going to happen, you should already be aware that’s what they’re going to do…

Samson – Dinar Guru  Article: “Private Banks Association: The number of electronic payment points in Iraq increased from 7 thousand to 30 thousand“

Militia Man – Dinar Guru  Electronic payments…you can get this feeling it’s showtime because they’re really doing the development of the reality of financial inclusion.  They’re spreading that financial culture around the country…It’s coming, the growth stage.  

Mountain Goat – Dinar Guru  “ECONOMIC RENAISSANCE AND UNPRECEDENTED PROGRESS.. IRAQ MAXIMIZES ITS NON-OIL REVENUES AND REDUCES ITS DEBTS”. They are telling us the national debt is only 9% of their reserves now at $108 billion and GDP growth is very good… words like “unprecedented” and “maximizes”…tells me our choo choo train is moving down the tracks at an accelerated pace now.

Samson – Dinar Guru  “Economist: The development road will pass through 12 Iraqi governorates and will transfer Iraq to the world“

Sandy Ingram – Dinar Guru  The DRP (Development Road Project) is expected to increase Iraq’s GDP and gross domestic product which could quickly increase the currency’s [dinar’s] value.  Whether Iraq increases the value of its currency or not, once it becomes an international transportation hub investors will have the opportunity to invest the dinar they have in one form or another.

Militia Man – Dinar Guru  The development Road Project is opening up Iraq to the region and into the international world.  The private sector is going to be the main driving force...They’re going to have to expose an exchange rate at some point in time, sooner than later.  I’m going to go with sooner.

Samson – Dinar Guru  Article:  ”The Governor of the Central Bank of Iraq, Ali Al-Alaq, confirmed that the decline in oil prices will not affect the dollar exchange rate.“