(this was emailed to us, we DO NOT know who the author is)
I just received this information by email today (Monday, June 20th) and thought that I'd share with you all. I makes a LOT of sense to me...
Hopefully after you read this some of your anxieties regarding the RV will be somewhat relieved? Everyone is freakin' out about the RV and there are literally thousands of predictions and rumors and guesses that we have to sort our way through. I'm going to try and paint a picture for you to help everyone better understand what's actually going on right now. Forget about delays and the like.
About 21 years ago Iraq was put on restrictions by the United Nations. So, that means that Iraq lost control of their own rights to free trade and managing their own finances, etc. 5 years ago it really got worse. After Saddam Hussein was overthrown the United Nations placed sanctions against Iraq that were brutal in an arrangement to repay the people of Kuwait.
Those brutal restrictions gave the United Nations the ability to control basically everything Iraq did. As an example the DFI (Development Fund of Iraq) was created. Beginning 5 years ago every penny that the country of Iraq has been allow to profit from any type of trade or import/export had been placed in the DFI Fund. Right now there is over 180 billion dollars there. For 5 years if Iraq wanted to spend any money, export anything, sell anything, buy anything, loan any money, they had to have the approval of the United Nations. So about 7 years ago Shabibi made a pact to "stabilize" their currency to help them be able to once again participate in a "World Trade Organization."
Think about it...for 21 years Iraq has been in prison, and their last 5 years IN THE HOLE!! A horrible analogy, but very real. So, do you think they're probably anxious for their day to be freed from Prison to occur? You'd better believe they are. And that day happens to be June 20, 2011.
What too many people do not understand is that this RV is about the Iraqi people and their country. That's the purpose of the RV. It has nothing to do with we investors. But, we have a wonderful opportunity to also be blessed. Iraq has been working every single day and hour to fulfill every restriction that was imposed against them by the United Nations five years ago.
Six months ago, last December, the leaders met with the UN and the UN told Iraq that ALL sanctions against them would be completed and released in exactly 6 months. That's June 30, 2011. They are working diligently to comply with everything that needs to be done. And believe me, they DESPERATELY want to be out of Prison then. In addition they've been working to fulfill the requirements of the WTO (World Trade Organization) for a FULL membership, granting them the right to freely trade Internationally. Approximately one year ago Iraq was supposed to obtain their FULL member ship but the WTO said some things were still not in place. At that time Iraq was granted a one-year extension to resolve those problems. (BTW in the history of the WTO has there never previously been an extension granted like this). Having said that I doubt very seriously another extension would be granted if requested. Now guess what day this deadline falls? Yep, June 30, 2011.
As relating to the RV one of the WTO's restrictions for full membership, is that Iraq must have a "Internationally recognized tradable currency." As of June 20, 2011, they do not. Is Iraq'a currency "stable" at the 1170 rate...YES it is. However it's not "Internationally recognized by the IMF". So what do they, as a country, have to do to fulfill that requirement. They must have a currency and RATE that's approved by the IMF that is acceptable to their country's natural resources values. What that rate actually is, nobody knows and nobody will know until it's made public knowledge.
However, this we do know. If they do not establish that rate prior to June 30, 2011 Iraq is NOT going to get out of prison, and as a matter of fact, they may have further charges brought against them and more sentence time added to their prison sentence. Do you believe they want to delay this from happening? Not even a madman would want that. On June 20,2011, if they finish everything they need to complete, not only will they be released from Prison, but the $180 billion dollars in the DFI fund will be theirs to use and control. Additional another 40 billion is reserves sitting in the CBI will also be theirs to use. They'll be free to trade anywhere in the world owing their WTO membership is authorized. And it all depends upon them having an acceptable tradable currency that is recognized by the IMF.
I can't imagine them choosing incarceration over complete freedom.....can you?? I'd just go ahead and RV my currency and become one of the most powerful nations in history! You do your own math...and I think you'll come up with the same answer!! Between now and June 30, 2011 or July 1, 2011