(Thank you George for emailing this to Dinar Recaps.)
UU3282 – “Quick Update 4/10” by Mnt Goat
Here in Bavaria Spring has sprung into full force. Rivers and gorges are flowing with cold alpine mountain waters from the winter’s snow. Flowers are beginning to bloom and tree’s buds are swelling with anticipation of summer months.
Last weekend Meinen Kinder and I went for our first long hike up my favorite mountain trail. It was a nice day of sunshine and warmth below but as we climbed the breezes above began to blow as we felt winter was not yet gone. The valley below already we could see a haze of green as leaves from shrubs, trees and flowers are underway.
I wanted to come to you today to provide the latest news as I received. I have learned to use this information at my own discretion and common sense in interpreting it. I do not just regurgitate news from Iraq as I know there is much propaganda and deception going on. After all you do want as close to the truth as possible…do you not?
This is a very short update on the news. I am summarizing news today in the hope to keep it very short since my last letter was a record high…..lol….
I am not going to give you a date of the revaluation so if this is what you need – go listen to one of these cheap, phony intel calls and don’t forget to make your donation so you can get on the preferred list for early exchange….lol….:)
If you haven’t done so already I suggest you take a few minutes and print off my last news letter dated 4/6 (LINK) and read it carefully. It is chock full of good news. A long read but excellent news that we all should know if we are serious about these currency investments we are in.
Today is Friday April 10th and yes there is still no Iraq currency RV.
Surprise! Surprise! Surprise! Are you surprised once again another week has passed and still no RV?
Honestly if I thought it was going to RV any time soon (within the next days or weeks) I would honestly say so but this is just not going to be the case since there is absolutely no sound evidence of this being the case. So relax and enjoy the Springtime! We still may have a couple months (not years) to go.
One call I really recommend for everyone to listen to is the GateKeepers call each Tuesday and Thursday evenings in USA 8pm till 11 pm EST. 760 569-7699 P=378652#. I applaud Joey, Vic, Wiskey6 and all those who bring in the articles. I can not recommend a more sound and solid source of news about this investment and the ongoing events in the Middle East. I hope this helps everyone.
So what went on recently in Iraq?
About a month ago we heard news from the CBI telling us they approved of the go ahead “green light” to begin, once again the project to delete the zeroes.
So the process started. They developed a plan to proceed with the rollout and it began. It was carefully orchestrated. The plan to seem to begin with the gradual rollout of the lower denominations (coins and paper) to the provinces. Remember if Iraq is taking in the remaining US dollars and the three zero notes they must replace the paper currencies with something else for the citizens to use. Also remember you just don’t give out FREE money you must exchange it for something of value, usually another currency.
Iraq decided to do this gradual exchange since some provinces were still under ISIS / DAASH control. As the province/region was cleared of ISIS, the implementation of the plan began in that region. Some regions were already clear and so the process began easily. It was moving forward nicely and even I thought we could see the final steps in completion soon.
Since the areas held by ISIS were in outer perimeters of country (with such high concentrations in Anbar, Turick, Mosul, etc areas) they decided to hold off on the rollout to these provinces/regions till last. What they did in the other regions was to deliver the lower denominations to the banks and began a program to continue the project to delete the zeroes (in –country) in these areas.
In their news and at the banks they announced a campaign to encourage citizens to bring in any remaining 3 zero notes (provisional currency) or the USD (US Dollars) they may still have to exchange. They did this by offering currency of HIGHER VALUE. Also part of this campaign was to announce that these large 3 zero notes would no longer be valid after a cut off date in-country. Part of this campaign was also to bring to their attention a the new law implemented last year stating Iraq would no longer use USD in-country and this currency would no longer be taken by the banks or in commerce for everyday transactions as of a cut off date (of course there would be exceptions but it would not be easy and justification would be needed). All the incentives were there and the program was moving along nicely…..until…..
But instead this is what eventually happened –
[So in the discussion to follow you must slow down your reading and bear with me. This is tricky reading and has many parts. But the story is good and is factual if you really, sincerely want to know where we are in this rollout of the revaluation. I hope I did the explanation justice….]
During the rollout process only about one third of Iraq was actually processed and during this timeframe the USD (US Dollar) began to increase significantly in value against the Iraqi dinar. I will not get into why the USD is now so high. This was not good for the overall plan implementation and was not predicted and beneficial to plan as you can see why in my explanation above of the plan. If fact it was very counter productive and so the plan was halted. Yes –the project to delete the three zeroes was once again stopped. We read many articles on the problem of the USD against the IQD. Folks they were telling us something very important in all these articles. Yes – did say ARTICLES and news and maybe if we all paid more attention to them we would really know what is going on.
Some say it was the IMF and/or the BIS that halted the effort. Why must the attitude always be of blaming someone or some entity? Who cares! The project was simply halted and there were good reasons for it. It is not all about us investors and when are we going to get paid….lol…
Now citizens in many of the provinces simply do not have any paper currency except the remaining held USD and it is widely used again as the value is high in the market place for purchases. This of course is counter productive and when their plans for rollouts in the past failed, they always seem to go back to the baseline – that of using the USD. Remember too about 90% of the three zero notes (provisional currency ) are already collected in country. So in reality using the USD is good for now as it can and will be easily collected if they issue a currency in exchange with higher value (hint hint….). But this must wait until the USD is under control or some other mechanism is found to counter balance the higher rate of the USD. What plan now do they have?
The CBI desires to lower the amount of hard currency in circulation going forward. How will they do this?
So they actually encourage little paper currency in circulation. Eventually they want most of the currency in circulation to be of coinage which is very hard to counterfeit as you need the dies, presses and the precious metals. Thus it is expensive and so why bother. Coinage is heavy and is very hard to smuggle through customs.
This is much different than what you may have heard in the past, as the lower denomination paper notes have been already printed and waiting in the vaults of the banks. But the coins is the waive of the future and this has changed in the plan over the last 4 years that most of us have been watching. I predict for everyday usage of pocket money the ratio will be something like 80% coinage to 20% paper in the near future for small purchases at the marketplace. Larger bills they will simply swipe their Qi cards.
It is felt that this will significantly decrease counterfeiting and money laundering. So we have seen the effort to issue smart cards better known as Qi cards to the citizens. Almost 90%+ of all citizens receive some kind of government benefit in Iraq. In using these cards it eliminates the need to have hard currency in you pocket. Instead they can just swipe the card in most stores (more stores coming online everyday- part of the electronic banking recently instituted). This electronic payment system rollout will be ongoing for years to come.
This week we heard of an announcement to recommend (yes only a recommendation not yet implemented) to begin rolling out the coins. As you may know these coins are of significant value much like the everyday EURO coins (unlike the everyday USD coins where USA has never taken to wide usage of large coin denominations).
So where do we now stand on the revaluation?
In my opinion if they could revalued the entire countries currency all at once they would have done so already and be done with it. But do to ISIS held control of some of the regions this was not possible. You see it is the disparity between the provinces, the partial rollout that is now causing the problem. I feel that if they had continued on the original plan (if they could without ISIS) this increase in value of the USD would have not been such a factor since the timing might have been right.
So now what is the plan going forward? Will they find a way to offset the increase in USD against the IQD? The news is telling us they have a solution and it will be implemented prior to the end of April. So my interpretation is this – we can expect to see the resuming of the project to delete the zeroes prior to or at the end of April. This is all I can say and we must wait and see what happens between now and then. They will most definitely tell us in the upcoming news what they plan to do. We must watch for these articles. In the meantime I will try to bring any news I am hearing from my contacts in Iraq and in USA, but I assure you I will fine tune the information, give it my throughout discretion and not just regurgitate it to you.
I want everyone to remember that this is not all about the revaluation of their currency and when do we get paid. Instead you must think more about the overall picture of what is now happening in Iraq, Syria, Iran and the plan for the next coming years for the region.
Have you heard about the Gulf Cooperation Council (GCC). Sound familiar?
This is a political and economic alliance of six Middle Eastern countries—Saudi Arabia, Kuwait, the United Arab Emirates, Qatar, Bahrain, and Oman. The GCC was established in Riyadh, Saudia Arabia, in May 1981. The purpose of the GCC is to achieve unity among its members based on their common objectives and their similar political and cultural identities, which are rooted in Islamic beliefs. Presidency of the council rotates annually.
Arguably the most important article of the GCC charter is Article 4, which states that the alliance was formed to strengthen relations among its member countries and to promote cooperation among the countries’ citizens. The GCC also has a defense planning council that coordinates MILITARY COOPERATION between member countries.
So you can see that Iraq is not going to fail. It is a foundational, a pivotal country in the middle east and soon to join the GCC.
Peace and Luv To Ya All,