Dinar Observer Daily

Mountain Goat – Dinar Guru   …the agreements and paperwork are all nearly completed to set the reinstatement in motion. But…we know this is not going to happen until the CBI is ready.  The CBI is not ready until they first secure the banks, the stock market, provide security (insurance) and then begin rebuilding the economy…I must mention this too as it is a factor. They will not be ready until the US Treasury and the Federal Reserve gives them the green light.

Clare – Dinar Guru  Article: “Al-Sari: The population census guarantees fair distribution of wealth and parliamentary representation of the governorates”

Pimpy – Dinar Guru  The deletion of the zeros…if they do it that way [zeros dropped BEFORE the rate change] it’s going to be the redenomination.  They’re going to announce a new type of currency, new bank notes without the zeros on there before they make the change in the exchange rate.  If it happens that way.  We all have the same dinars.  We’re all crossing our fingers and hoping the exchange rate takes place first before any type of redenomination.

Samson – Dinar Guru   Article:   ” ‘International Reconstruction’ reveals the completion of the first designs for the Iraqi Development Road Project”

Clare – Dinar Guru  Article: ” ‘Hybrid Monetary Policy’.. Al-Sudani’s Advisor Reveals the Central Bank’s New Step”   Quote:  “The Central Bank began…on October 24, to reduce the monetary policy interest rate…by about 200 percentage points, by lowering the interest at which the Central Bank deals with banks from 7.5% to 5.5%, which means…an expansionary policy in targeting the money supply...Despite the above…new policy did not neglect the importance of continuing to control local liquidity levels and carrying out high sterilization operations, by offering debt instruments called Islamic certificates of deposit…which are considered sovereign debts that can be mortgaged or discounted in the secondary market and are excellent debts…with a return of 4% for a period of 14 days and a return of 5.5% for a period of 182 days.“

Nader – Dinar Guru  Now we can pay with the Iraqi dinar anywhere in the world.  From Iraq I can pay people over here [United States]…For now it’s 1310 but I can send you $500.  I’m talking about business, I’m not talking about person to person.  I’m talking about business.  Before we’re not allowed to do that…

Mountain Goat – Dinar Guru   We have been…told by my CBI contact on the committee that we should expect to see the ramped-up Project to Delete the Zeros sometime soon after the U.S. election period is over sometime in November. This period of time through December will begin the process for the swap out with the newer lower denominations. To me this also means about a 1:1 at par rate of the IQD with the US dollar. But remember this is IN-COUNTRY only. Also remember these actions ALWAYS have dependencies. Nothing is a guarantee! I want to make this VERY CLEAR to you today.  [Post 1 of 2….stay tuned]

Mountain Goat – Dinar Guru  …the media is constantly broadcasting commercials about how the swap out will work.  Then the news media from Iraq tells us about the “cash center” that recently opened in Karkh. It is used solely for the intake of the three zero dinar notes or dollars. Folks they are already sucking in the three zero notes…So in reality, unofficially, the process of deleting the zeros has already begun. Yes, it is underway according to my CBI contact.  [post 2 of 2]

Pimpy – Dinar Guru   [Lifting restrictions on currency exchange in Iraq]   You understand if they lift these restriction they’re talking about the amount of liquidity that’s going to come into Iraq?  Liquidity has always been an issue for them but now this would be a big deal for them.  This would be huge.  A lot of liquidity would come into Iraq.  It’ll really strengthen the Iraqi dinar.  I mean hardcore.

Pimpy – Dinar Guru  Iraq without a doubt is trudging forward but now here we go.  We go election season coming up.  We really have to cross our fingers and see what happens because the people that get in office really do make a huge difference on what’s going to happen in the future.

Samson – Dinar Guru   Article:  “Calls to accelerate 2025 budget and boost non-oil revenues“

Clare – Dinar Guru   Article: “The Central Bank of Iraq decides to reduce interest to 5.5% in order to support economic growth”  Quote: “The Central Bank of Iraq decided to reduce the interest rate from 7.5% to 5.5%, after the inflation rate decreased in Iraq“

Pimpy – Dinar Guru   [Reference Guru Nader post below]   It [The dinar on Forex] went from 1320 to 745 for every dollar so that’s 54% increase in value.  Woo!  Man that’s really good.  It’s not where everybody  wants to be but still a nice jump in value.  It’s looking good.  I really think it’s looking good.  I just try to keep people grounded…There is weird activity.  Nobody really knows what it means but that is one hell of a jump, a 54% increase in value…I don’t know what’s going on…It is exciting because this is right on the heels of the information…that they’re lifting restrictions [on foreign exchange in Iraq] and then all of a sudden this happens.  This is like one day apart…All of a sudden next day there’s a spike.  Could be something, could be nothing…Everybody knows it’s close so it’s hard not to get excited.

Militia Man – Dinar Guru  Article says, “Why is the US dollar exchange rate fluctuating?  [Central Bank advisor] says most traders who obtain the US dollar at the official price from the central bank, they sell their goods at the black market price as well as the lack of global correspondent banks…”  The black market becomes part of the issue…The black market harms the economy.

Nader – Dinar Guru   Monday night (Tuesday Morning) I was in bed and I received a phone call around 2 o’clock in the morning over here in the States.  They go like, hey Nader you go on Forex and watch what’s happening in Forex…I go to Forex and I see this spike.  Boom.  Big spike.  This first time since 20 years I see it…I look at it and it’s missing one zero.  Instead of three zeros is only two zeros…I’m there looking at it.  I’m not believing myself what I’m seeing and I see it going down too, back to .00076 …For me they begin to do it.  They’re testing it.  They testing it late night or early morning over there just to see how it’s going to work out…If you go to google, type in Iraqi dinar exchange rate.  Click 5d (last five days view).  If you go there you see it loss it’s zero and it’s .0014 instead of .0076 … [Note: See the spike on the chart from a few days ago by clicking here to view on Google ]

Sandy Ingram – Dinar Guru  The 2024 BRICS Summit is happening in Russia right now.  The news coming out of the summit is that there doesn’t look like the there’s going to be a currency developed by the BRICS organization.  More on that upcoming [soon]…

Clare – Dinar Guru   Article:   “Waiting to be sent.. Oil and Gas Law on the Government Discussion Table”  Quote:  “Member of the Parliamentary Oil, Gas and Resources Committee, Kazem Al-Tawki, confirmed today, Thursday, that the draft oil and gas law is awaiting approval within the Council of Ministers, indicating that the joint committees between the federal government and the regional government are continuing their work to decide on the law.”

Samson – Dinar Guru  Article: “Establishment of the ‘Iraqi Money Changers Syndicate‘ in Baghdad.. and Al-Taie as its President”

Militia Man – Dinar Guru Article quote:  “It must be noted here that the availability of foreign exchange reserves for the central bank exceeded $100 billion and a gold reserve exceeding 143 tons confirms the Iraqi dinar will recover and that it is strong.”  They’re reiterating what Sudani has said numerous times, the dinar will be stronger than the dollar…1310 is not strong in comparison to the dollar.   It’s .0007643.  That is very cheap.  That’s sub-penny…It’s going to change IMO.

Pimpy – Dinar Guru  Community Comment: “Iraq just got licensed for foreign currency exchange.”  Back in 2004 they were licensed for this but there was a shitload of restrictions…A lot of those restrictions are being lifted.  This is really good news for the Iraqi dinar...If being on the SWIFT system is the ‘football game’, this step right here is you’re in the warmup before the game.  It’s really good news.  That’s something Iraq needed.  They’ll warm up a little bit with this…This is going to bring a lot of liquidity into the country.  What they’re telling people is Iraq is getting ready to step in and start becoming a big player with the big dogs.

Mountain Goat – Dinar Guru  Article:  “I WANT TO SPREAD AWARENESS ABOUT ELECTRONIC PAYMENT? READY TO USE IT?”  …we can interpret these electronic debit cards as yet another move by Iraq to open up to the rest of the world…yet another move out of the sanctioned – mode that Iraq has been in just occurred. Thus they are joining the world stage again but bigger and better this time…

Samson – Dinar Guru  Article: “Iraq exports goods to China worth about $30 billion in just 9 months“

Militia Man – Dinar Guru  The reconstruction of a war torn country is massive…If you’ve been invested in this for a long period of time and done your research you know back in World War II we had Germany, Japan, what happened to those countries?  They got destroyed, sadly, but…they build them back to powerhouses.  Iraq’s going to be another powerhouse…The Development Road is going to support that.  It’s going to be huge.

Mountain Goat – Dinar Guru  We must remember that the RV is not an event by itself that will just happen someday but it is a byproduct of the reforms…It can not happen without the reforms and one of the reforms (besides all the banking, insurance and stock market reforms) is the currency reform. The Project to Delete the Zeros will begin the final stage…if these strategies are completed the likelihood of seeing the IQD on FOREX again is extremely high. I believe it is inevitable…When it is time, it will be on FOREX and with the kind of rate we all anticipate. Today the IQD rate in the Quantum Financial System (QFS) is $3.96. When they decide to allow the IQD back on the exchanges, the rate will be mapped over to the exchanges from the QFS.

Samson – Dinar Guru   Article:  “Parliamentary Finance: The government is working on preparing the basics of the 2025 general budget to present it to the House of Representatives”

Militia Man – Dinar Guru  Taking a country to international level is going to be a major major deal.  It’s going to take a lot of time still but they’re going to have to get started.  They’re going to have to go international to get it going.

Clare – Dinar Guru Article: “Al-Sudani: $100 billion is the size of investment opportunities in Iraq”  Quote: “Iraqi Prime Minister Mohammed Shia al-Sudani confirmed that the investment opportunities available in Iraq exceeded $100 billion in value, pointing to the expansion of economic cooperation between Iraq and Egypt.“

Pimpy – Dinar Guru   Article:  “Credit Bank of Iraq achieves a profit of 20.4 billion dinars”  This article is definitely a very good one for those of us who are invested in the Iraqi Stock Exchange…I only anticipate the bank stocks going up more and more…They might be some of the fastest growing stocks in Iraq.  The reason for that is because they keep expanding on the banks, putting them through reform...All that’s going to do is drive up the value of the stocks…

Sandy Ingram – Dinar Guru  What is the WTO and why does it matter?  The World Trade Organization is an international group that helps countries trade with each other fairly and efficiently.  Joining the World Trade Organization will help Iraq grow its economy by making it easier to buy and sell good with other countries.

Samson – Dinar Guru  Article: “Al-Sari: The population census guarantees fair distribution of wealth and parliamentary representation of the governorates“