For weeks now my sources have indicated that we are so close to the end of this adjustment in rates. As frustrating as it is to wait, what choice do any of us have? Over the last several weeks I have refrained from voicing my thoughts about the amazing volume of idiotic claims of RV’s in Iraq and RV today at such and such a time or tonight after this time. On and on the nonsense is repeated time and time again. When I became so much more aware of many of the complexities of this process last August/September, I realized the need to be much more careful with the information I was receiving and how I handled it. You might wonder why I would take this approach. It became evident that many people are being fed misinformation so that we as investors would not have clear insight to the final stages of this process.
ScottiG: I could tell you about the security efforts that have gone on but I dare not elaborate. Just know that much of the delays can be attributed to our safety and that of the world. Intelligence entities from around the globe have been most diligent to identify and neutralize the currency that has ended up in the hands of bad people and countries. I know there are many claims of Settlements and Packages for governments and others but I am not there. I do have access to much of their information and I just cannot subscribe to this ‘school of thought’. The information I process on a daily basis covers a wide array of areas from political to financial and I work very hard to separate the truth from fiction.
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ScottiG: Based on many of the signs and statements we have witnessed recently and based upon the facts surrounding the implementation of the budget, I believe we really could see the RV very soon and maybe even this week. Take into account that this is Iraq and they will do what they need to do for themselves. They did confirm this week that the USD will now be treated as foreign currency! This is a great sign and gives us cause for anticipation. I understand that we may likely see a much smaller group of countries adjusting the value of their currency. Yes this includes Viet Nam and Kuwait.
ScottiG: I have heard the rumors from some of the purveyors of information of $ 10 and $12 rates. I am still hearing some talk about the rates will be to the GBP. I assure you that these people making such claims are not giving accurate information. I have tried to be a voice of reason but we are still responsible for what we receive and accept. I do have strong reason to believe that the initial release could come in just above $1 for a short period as it quickly floats up in the currency markets by the professional traders. Now it is possible that the rates could reach as high as $8 for a very short time and then settle back to a fixed rate near to the Kuwaiti Dinar. We will not know just how the Treasury rate will be handled and I believe we need to be prudent and patient once we see this currency go live in the markets. It is just as possible that the currency opens up in the $7 range and fluctuates for a short bit and then settle down to the KWD value range. What I am trying to say is that until it happens, we will not know what we need to do. On another note, I do know that some screens related to the Treasury indicate a rate and the word ‘PENDING’ next to it. This is only a hold rate not an active rate. The rate will certainly change when it goes live!
I truly wish that all those who are weekly calling the RV done would keep their
misinformation to themselves! Oh you think it is not misinformation? Then did Iraq RV in-country a few weeks ago? Nope. Did you go to the bank in the last 2 weeks and cash in? Not yet. Hmmmmm.
I hope everyone who reads this post will take the time to look at what I have said today and sit back and let the RV come to you. I know I have been saying this for over a year now but it really is important for each of our well being to take a step back from the fray of the nonsense that abounds so greatly in the forums and chat rooms.
ScottiG: So there you have an up to date view from where I sit!