Footforward: Iraq is not the problem, Iraq is not the holdup and I am 100% sure Maliki is not the problem. Being Basil III compliant has nothing to do with the RV. It is just a new standard of banking & you don't have to have every bank changed over, it's just something they are shooting for.
It will be years before the majority of banks are Basil III compliant. It is not an indication of the timing of theRV.Iraq is not a sovereign nation.
How can you be a sovereign nation and still be under Chapter 7 and not be under control. A sovereign nation would be using their own currency. The rate in the budget will be close to $4 but this budget is no different than budgets from the past several years.
They can't do anything with the budget until they open the budget and it can't be opened until it RV's. This budget is not the one thing that we are waiting for.
I do expect the RV to happen between February 23rd and February 25th. I have a number of reasons for this one of which is the Standby Agreement is being eliminated & has not been renewed. Iraq is basically being told to stand on their own and without an RV it poses some challenges for Iraq.
I do believe the rate is going to be good. I don't believe it will be some little $.69 RV.
2-2-13 Footforward: Banks at the higher level are looking for this. The RV should happen in February, you can piece things together, things that are moving forward. The purchase of Boeing jets is not the sign of a broke country.
The Standby Agreement has not been renewed, it expires February 23rd. If you don't have an RV and don't renew the Standby Agreement, then Iraq will be in a whole lot of trouble because they will not be getting any of their money back. So, the RV should happen between now and the 23rd. Of course things happen, but it should.
There hasn't been any secret RV. Once it RV's you will know right away. The HCL has been agreed to on paper, it just hasn't been activated. People forget that Iraq is under Chapter 7 sanctions and you do not call the shots when you are under these sanctions.
They haven't opened their budgets for several years because the budgets that they do are based on revalued dinar. Everything is on hold until they actually have an RV, after that the money will start flowing.
The Asiacell info is irrelevant to the RV. It does not signify the timing of the RV. There are pieces to the puzzle that prove the RV WILL happen and there are pieces to the puzzle that prove WHEN the RV should happen and the two are not necessarily connected.
Not everything is an indication of the timing. Be hopeful, be optimistic. There is a time here soon where we will be in post RV mode
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1-12-13 Footforward: Why are the banks opening on Saturday. It is not to get the dinar off of the street, it's all been collected. The only people that have dinar in Iraq are the rich and those that are connected and who know what is going to happen.
99.99% of the people in Iraq do not have dinar, they use USD. So, why are the banks opening up on Saturdays?
They are going to have a massive demand for people to go into the banks, so what situation would facilitate having the bands open an extra day?
What if you have an RV & the people need to change their dollars for lower denoms. They are getting the people prepared for after the RV. I don't think they will be open just yet