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.
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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.
Clare – Dinar Guru Article: “The Minister of Commerce discusses in Abu Dhabi with the World Trade Organization the completion of procedures for Iraq to join the organization” Quote: “The organization is looking forward to and following the steps for Iraq’s accession carefully, given that Iraq is one of the important and powerful economies that is still outside the organization, and that Iraq’s presence within the organization’s membership will be a great added value to the organization and to the global economy.”
Sandy Ingram – Dinar Guru Iraq and Turkey have an agreement where people and cargo can begin travel…up through Iraq…into Turkey and…into the Mediterranean Sea, which will allow…faster access to Europe. This project is expected to increase Iraq’s GDP, provide thousands and thousands of more jobs and kickstart Iraq’s economy foundation outside of the oil industry.
Samson – Dinar Guru Article 1: “The Minister of Commerce discusses with the Director of the International Trade Center the formula for joint action and support for Iraq to obtain membership in the WTO” Article 2: “For the first time in 20 years…Iraq participates in the Ministerial Conference of the World Trade Organization”
Militia Man – Dinar Guru Article quote: “Deleting the zeros…does not conflict with its value but needs educational campaigns to proceed it and a traditional period for trading the currency with zeros and the new currency to know the two currencies are equal in value.” If they are going to be equal in value…a dinar is a dinar is a dinar. A dollar is a dollar. When it comes to an international stage a dinar is not a dollar, nor is a dollar a British pound or a Japanese yen. There’s a difference in value. Are they one of each? Of course they are...But are they valued the same? Absolutely not…
Mountain Goat – Dinar Guru …Iraq is finally breaking the news all about the Project to Delete the Zeros. This is fantastic news but just news for now. The actual execution part is coming and I was told by my weekly call to my CBI contact in Iraq on Saturday, that it will be VERY SOON!
Goldilocks – Dinar Guru Article quote: “Iraq is participating for the first time since 2004 in the Ministerial Conference of the World Trade Organization, which is held in… The capital, Abu Dhabi,” Iraq is currently participating in the World Trade Organization. Their potential membership is moving forward. As a full member of the WTO, they will need a rate to fully participate in this inclusion. This is truly a monumental achievement for Iraq and something the world has been waiting for for a long time. …There are high expectations that full acceptance into the WTO for Iraq will happen during this meeting taking place…
Militia Man – Dinar Guru Article: “The Central Banks show that the amount of printed currency decreased by 1trillion between November and December 2023” They’ve been reducing their money supply for 20 years… They’re telling you specifically they have been, in the trillions… Less supply means more value…They’ve been doing what we said they were doing. They’ve reduced the note count. We’re going to see what the accurate numbers are and we’re probably gong to see that in valuation of the Iraqi dinar.
Clare – Dinar Guru Article: “The Prime Minister of the Kurdistan Regional Government arrives in Washington on an official visit”
Paulette – Dinar Guru IMSO…now that the Federal Court ruled, the Oil and Gas Law is no longer needed.The court wrote the entire Oil and Gas Law in one decision. All government employee salaries are paid through Baghdad and all oil and non oil revenues of Kurdistan go to the Federal government. Nothing more to say or agree to. “Binding and Compelling”.
Pimpy – Dinar Guru The deletion of the zeros is not off the exchange rate…I’ve showed you in writing.
Militia Man – Dinar Guru Question: “Does deleting the currency zeros affect its value?“ Of course it will. Quote: “Currency zeros do not conflict with its value.” Of course it’s not going to conflict. You delete the zeros, is that a conflict? No. It brings purchasing power. If you deleted the zeros and there was no gain that would be a conflict. How are you going to tell people for all these years we’re going to get purchasing power and then you do a LOP and there’s no value difference?
Clare – Dinar Guru Article quote: “the prevailing proposal is to replace every thousand dinars of the current currency with one dinar of the new currency…The deleting zeros can achieve many benefits, the most important of which is getting rid of high inflation pressures on the economy and restoring confidence in the national currency and the monetary system as a whole, facilitating accounting processes and cash exchange between citizens, and reducing the cost of managing and maintaining the monetary block by reducing its volume under circulation”
Militia Man – Dinar Guru They’re talking about deleting the zeros again…We’re not talking 1, 2 or three articles… Article quote: “The issue of deleting the zeros and splinting the dinar has become a topic that causes a lot of reflection and controversy in economic circles...” If you go from 1310 to something back to a ‘previous era’…is a big move…Article quote: “When this is done correctly we can expect…a strong dinar that is considered a store of value and perhaps even stronger than the dinar that was before 1980.”
tlm724 – Dinar Guru Article: “For The First Time In 20 Years…Iraq Participates In The Ministerial Conference Of The World Trade Organization” Quote: “Iraq is participating for the first time since 2004 in the Ministerial Conference of the World Trade Organization…pointing to “the completion of the requirements for Iraq’s accession to the organization, which is the completion of the files of trade in goods and trade in services within the timetable for joining the global multilateral trading system.”
Militia Man – Dinar Guru Iraq is going to explode with growth. We all know that…You’re going to provide thousands and thousands of jobs and build 10 industrial cities, millions of homes…it creates a lot of growth. It creates a lot of jobs…
Pimpy – Dinar Guru There’s no doubt this [Development Road Project] is going to turn Iraq into a transit center. There’s going to be a lot of traffic going through there. [But] Article quote: “Iraq has postponed the launch of its $7 billion development road project to early 2025...” Hello, remember, don’t count your chickens before they hatch. We are talking about Iraq. This happens quite often.
Sandy Ingram – Dinar Guru The interest rate in Iraq averaged 6.17% from 2004 until 2024 reaching an all time high of 20% in December of 2007 and a record low of 4% in March of 2016. 6.17% is a high rate, yet they still are having trouble getting the Iraqi people to put their money into the bank. Iraq does have a bank deposit protection program similar to the US’s FDIC.
Samson – Dinar Guru Article: “Washington: Senator Coons is holding important talks with our partners in Baghdad“
Militia Man – Dinar Guru Article quote: “…the prime minister’s…advisors do not have any information regarding the amount of the read and expected deficit in the 2024 budget. This mater is completely closed until the moment exclusively with the Ministry of Finance.” Parts of the government do not know yet what is coming. Why? Because they don’t have a need to know… Article quote: “…no one know what they include… numbers and details.” No one knows until the last moment. Why? Because they need to keep it tight to the chest.
Nader – Dinar Guru Did you see the article...? Sudani visiting the United States Soon.
BGG ~ So?!?
Pimpy – Dinar Guru I want to make sure people understand. When they go, ‘why do you always talk negative about the dinar?’ I’m not talking negative about the dinar. I’m expanding the truth to you. I may come across as negative because you have been tuning in elsewhere…and your emotions are high…I’m going to tell you exactly what we need to look for and what it’s going to take for Iraq to get us there…There’s a lot of good news. Let’s be happy about that. More than I’ve seen in a long time.
Dinar Investor – Jeff The starting point of the US interactions with Iraq was on March 17, 2003…Is it possible the US might end its actions with Iraq on the anniversary date of when it started…March 17, 2024?
Yada – Dinar Guru Question: Are we waiting for 5 pm…For Forex? yada: Not necessarily for the FOREX but for the markets to open. The lower denoms will be released after the rate change, almost seeming simultaneously. All the contracts from Davos, Baghdad forum, and now the OTC that closed on the 22nd, are all activated with the rate change.