Highlights from Tuesday KTFA Conference Call:
Frank began with a brief review of Delta’s post in the morning about the CBI announcing they are printing new currency with good paper.
Recall that last week Frank told about the large machines the CBI received that could process large amounts of currency and even print it, and the CBI has been educating the people to not deface the new currency.
In Franks Opinion all the paperwork for the Monetary reform was signed 2 weeks ago. They were signed in Bagdad and this past Sunday was taken to Washington D.C. and the UN ….
I-Team reported that this morning there was a meeting at the UN and one of the interpreters is a friend of the I-Team..A document was translated saying Iraq is getting ready to make a big move, and it was discussed at the UN!
Noone knows what the big move is, it could be many things, but Franks opinion is the MR documents have all been signed.
Delta : Today the CBI made an announcement that many people took as bad when it really is very good news. The translation is the best way to fight corruption is added security in the 250, 500 and 1000 notes. This better paper and added security features will make the currency last longer, and stop counterfitting. New markings on the 5000, 10,000 and 25,000 will help the blind differentiate between notes and new security features added that can only be seen with a blue light.
The notes we have will remain legal tender and co-exist with the new currency!!!
When the CBI revalues the dinar, our currency will still be legal tender to the CBI.
So why is the CBI printing new 3 zero notes??? They need it for transactions with nations …recall the currency swap agreement Iraq signed with India. They need the large bills for large financial Institution transactions .
Delta was very excited to see this announcement…Iraq is doing just what the US did (our old currency is still good alongside our new currency)
In Delta;s opinion , the next step should be the LD-s and the coins. Notice they are missing the 60 dinar note and it is the note with the Kurdish language on it and will not be released until the dinar revalues.
Delta says this announcement about the new currency is the best news for our investment and it should make us all very happy…….In Delta’s opinion our currency will be legal tender for well beyond 2 years.
Delta reports that Iraqia TV is constantly reporting about the Monetary Reform…There is also a group of very smart experts in MR from the USA at the embassy in Iraq assisting with this process.
In Deltas opinion, everyone who made the ecision to invest in the IQD made a very smart decision and you will be blessed for a lifetime or longer.
Nova says because of this announcement by the CBI, we now have irrefutable proof there will be NO LOP!! The CBI is doing everything it can to stabalize and add value to their ccurrency.
In Nova’s opinion the CBI is doing everything required to have an international currency.
Question: What impact do the elections have on this?
Nova says, in his opinion, the IMF controls the exchange rate on all member nations, and he feels the IMF is NOT waiting on any elections to release the new rate. The elections have nothing to do with the new rate, and the IMF will release it when the IMF is good and ready. Regardless of the elections.
Delta believes that M does have some influence however, because the CBI will announce the new rate. But M is not in charge and the MR has steadily continued despite all his past shenanagans.
Question: Is there only one time a year that this big change (MR) can happen?
Delta says there are typically 2 times that making a sweeping change like the MR can be done efficiently. The beginning and the middle of the year. However, it can be done at any time at all. There is no reason it cannot be done any day, of any month at any time at all.
Frank says last year one of the COM (councils of Ministers) said they would not raise the value of the currency in 2013, but that they would do itAHEAD OF, OR BEFORE June of 2014. The GOI is NOT going on its usual vacation and we see the MR moving at “warp speed”
Question: Is the expectation is that the new rate will come out at 1:1 and go up?
Franks says no one knows the date or rate but, it is illogical to come out at .10 or .15 cents. Coming out at 1:1 also does not accomplish what they need. To RI at the previous rate of $3.22 makes the most sense .
Delta adds that lessons were learned from the Kuwait RV, and it makes sense that the rate will be close to that of the other currencies in the region.
Nova says that Iraq is doing all it can to decouple from the USD. Using the USD is a drag on the Iraq economy. We need to focus on what the CBI is doing to strengthen their own currency. Nova added the only reason Iraq is buying other peoples gold is to dump their USD!
Frank said there will be no CC’s next Modnay or Tuesday as he and Tink will be celebrating their anniversary, but they will have a big call on Wednesday night.
However, if there is a NEW RATE ANNOUNCEMENT- there will be an emergency call no matter what day or time!!
Frank ended the call with “Amazing Grace”