Maynard57: I got a private email from a member about a post I made quite a while back concerning the RV ad the actual info surrounding it being perhaps the most valuable proprietary information on the planet. The emailer asked, 'if that's true, why all the talk about restoring the dinar to its true value in June?'
Clearly I need to backpeddle a bit, because in retrospect my post was't very well thought out and somewhat overbroad. The IQD info is precious stuff, but as for "RV or not RV" (sorry Shakespeare) I think that cat's pretty out of that bag.
I really think the reason the CBI feels at liberty to make the public statements they have has to do with the fact that they know approximately who many 000 dinar notes were printed and roughly how many are currently in circulation.
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Maynard57 Continues: I'm not saying you can go to the CBI site and get this information yourself, because the CBI lies all the time and these particular numbers might not be the real ones.
THe point is this: Even if the people are told the monetary policy change is coming in June, they have a pretty good idea of how much IQD is in circulation outside of the bank, and, absent those notes that were lost or destroyed, they have a good idea of what their liability will be when the RV happens.
These feared runs on the IQD won't really effect the CBI because they have to cover the notes regardless of WHO has them.
It also appears to me that most of the IQD to be supported won't really be 'in circulation' in any meaningful sense. Much of it will be locked away in Central Banks of other countries as "reserve currency"
All countries do this, and it will be the same with Iraq's currency.
THey barter with it. Currencies are assets to back their own domestic currencies, etc.
I don't have any intel on what the particular plan is for JUne, but I suggest not to worry about all these June announcements being made. Sorry about the misleading post I previously made and I'll try to be more careful in the future. Maynard
Maynard57 said: "It also appears to me that most of the IQD to be supported won't really be 'in circulation' in any meaningful sense. Much of it will be locked away in Central Banks of other countries as "reserve currency" All countries do this, and it will be the same with Iraq's currency. THey barter with it. Currencies are assets to back their own domestic currencies, etc."
Vinman33: Case in point: Using the auction process, Iraq has used the USD as THEIR reserve currency (among others, but mainly the USD) to keep the value of the IQD stable for several years.
It is "alleged" that the U.S. holds a large amount of IQD. Although I've never seen this officially stated by a U.S. government source, one can imagine it's a pretty good bet (early on in the U.S. invasion of Iraq, BILLIONS of USD were sent to Iraq - an entire article about it (and the man who was responsible for safeguarding it) was printed in U.S. papers.
I am very reluctant to believe that we just "GAVE" that money to them, I would bet we BOUGHT it from them).
There are several countries that have "forgiven" Iraqi debt. Although I have no proof, I would surmise they did the same thing we did (debt forgiven in exchange for (what was then) a worthless currency with the promise that at some point in the future it would be revalued and they would end up with a lot more than the debt they forgave).
At the end of the day, all we can do is hope and pray that this ride is very close to being over. Given the economic situation around the globe, it's no wonder we see so much motivation on the part of the PTB to get this done quickly.
I give a big shout of thanks to Steve & Ray (and their contacts) for providing us with facts and insight.
Pray It Forward, Vinman33
"Democracy is two wolves and a lamb voting on what to have for lunch. Liberty is a well-armed lamb contesting the vote." - Benjamin Franklin
"Those who sacrifice liberty for security deserve neither."
"We sleep safe in our beds because rough men stand ready in the night to visit violence on those who would do us harm." Booyah! Mike Monsoor!
Maynard57: YEs Good one, Vinman.
It's always good to keep an eye on the interconnectivity of this Plan. Its also gonna be a part in addressing this asset-less, fiat currencies fiasco. Don't think for a minute that other countries storing hordes of US monopoly money aren't hopping mad about bearing so much burden of our really short-sighted monetary manipulations.
With this IQD, there is a sudden injection of actual asset backed money on reserve, US included. There will be no global reset without this.
As for the dinar on reserve in other Central banks, there simply couldn't be a better place for it, from the Iraqi perspective. THey don't have to 'back it' right away. It just gets bartered with other countries as they need it. The whole think is freakin' brilliant, if you ask me. Maynard