(Thank you George for emailing this to Dinar Recaps.)
UU6838 – "Plan to Launch Lower Denoms- con’t" by Mnt Goat
Today I am going to continue the discussion of the plan to launch the lower denominations and the importance of this event in the process to the ultimate revaluation of the IQD.
So two weeks ago the CBI announced they would launch the 50k notes. Last week I told you this event was about to happen but we did not yet know when.
Then on 11/16 I sent out a news letter (LINK) explaining the entire process and what they hope to achieve by it and that they announced it would take place in early December.
Then we learn that the IMF is aligned with this process and is working VERY closely with the CBI and the Ministry of Finance to initiate and guide them through this entire process.
Then on 11/17 I sent you yet another news letter (LINK) and everything looked so good that we thought MAYBE the CBI might even begin this process prior to early December, as they originally announced.
Then on 11/19 the CBI pops out an article to us and announced the plan to launch the lower denominations and I quote from the article- “A commission of economy and investment plans for new parliamentary Central Bank intends to implement is to issue less cash currency of category 250 dinars, and a new edition to the category of 500 dinars”. I included the article below again for you. We do not yet know the date. .
So what does this mean? Since many of you still may not understand the significance of this announcement yesterday (and for some of you newbies…lol ) I hope to help you realize just what kind of a GOLDEN NUGGET this was. It was amazing news.
Today is Friday November 20th and still over a week away from the early December timeframe.
As I have said many times over and over to watch for the project to “delete the zeros” and other signs and our RV is close at hand. Now we are witnessing the most significant sign of all these signs as it is the final stage of the implementation of the process for their plan. Never since 2012 have they made such an announcement.
We have been told by the IMF and the CBI that Iraq needs stability in order to launch currency reform right up to the end- the RV. We now know the government is much more stable and ISIS is getting under control (enough to create the kind of security necessary) so Iraq is slowly getting more physically secure. We also know for the economy and for investors they have already been put in place or are soon in the making such as for investment, banking and other regulations. . I have been sending you articles to prove these FACTS over the last 6 months.
No need for “secret” sources, “boots on the ground or some proclaimed intel “guru” necessary to tell me these things.
All I have to say to this is WAKE UP ! If you have to ask after all the effort I do to bring you the news and articles then I simply give up on you. I give up cause you are drinking from the half empty glass and this becomes a mental state of mind and is not a healthy way to live.
I only bring you SOLID FACTS in these news letters. NO Hype, NO Rumors, only the FACTS and I present articles to you to prove it. I listened on many of these so called “intel calls” and someone actually had the nerve to bash Mnt Goat for “only bringing articles to her news letter”. They did not take the time to read my comments or even read the entire news letter. The entirely missed all the great news. The reality was that at that time there was no hype, no rumors and nothing to feed into their hopium. It is very sad people are living these lives. Instead they waste their time and effort trying to figure out if I am a male or a female….lol….go ask my hubby and zwei Meinen Kinder. They can tell you.
Now we know where we are in the process. We know at least they are moving rapidly forward with the “project to delete the zeros”. We know the process and we can fit the pieces to the puzzle. So far the way I see it they are moving ahead of their original plan and I think perhaps its because the IMF finally stepped in and is kicking butt. NO MORE DELAYS!
Update: Currency Reform
First take a few minutes to read the article below and then I will explain it afterwards.
NEW CURRENCY - LOWER THAN THE 250 NOTES
Najib: New plans to issue new currency less than 250 dinars coin
November 19, 2015
A commission of economy and investment plans for new parliamentary Central Bank intends to implement is to issue less cash currency of category 250 dinars, and a new edition to the category of 500 dinars. "
He said committee member Najiba Najib said in a statement seen by the agency of our economy news that "the central bank has new plans to issue a new currency less than the category of the 250 Iraqi dinars to fill the Iraqi market needs, as well as to issued a new edition of the Currency 500 dinars category."
The CBI had announced earlier issued a new banknote fifty thousand Dinars category in order to complete the Iraqi Securities monetary structure, and the development of high value in the trading category.
Many, including myself, have said all along that when they launch these lower denoms of new currency they must give them some value. We read in this article they are definitely talking about the new lower denominations as they say and I quote – “less than the 250 dinar notes” (the 250 dinar already exists and will continue).
Since if they do not raise the value of the dinar significantly then what the hell good are these new notes going to do for the economy and the citizens when they launch them? They will be still impractical and useless and thus where is the full extent of the currency reform? How can they get out of Article 8 of the Chapter VII UN sanctions and be fully international (as the IMF announced earlier in this month they would be by mid 2016) without also having an international currency?
Without an increase in value:
$1 dinar note = .00008973 (less than a penny in USD)
$5 dinar note = .0004485 (still less than a penny in USD)
$10 dinar note = .08973 ) still less than a penny in USD)
$250 dinar note = 22 cents in USD (this is how they use them today almost not worth having them)
$500 dinar note = 44 cents in USD (round to 50 cents and so why bother changing them?)
$50,0000 dinar note = 46.00
In February 2015 the CBI announced they discontinuing the $50 notes (going to coin only). Another piece to the puzzle that indicated they were slowly moving to the completion of currency reform project.
In April 2015 the CBI announced the coins only $25, $50 and $100. Another sign of some progress towards currency reform.
Then suddenly about the second week in November they began ramping up the news with a series of articles on the process to delete the zeros and have not stopped since.
- they told us of intentions to gradually wean off the currency auctions and FLOAT the dinar
- they introduced the project to delete the zeros to us again and explained it in detail
- they then told us they were ready to begin the process thus launch the 50k notes.
It is almost now as if they are guiding the citizens of Iraq through the process (we are just bystanders intercepting their news).
So we are now witnessing the end to this project. The final steps.
They are even telling us they are going to launch the $500 dinar. Wow! A 500 dinars note was issued in October 2004 so I think they are just issuing a new edition with more security features and maybe Kurdistan symbols on it.
Even if I am a little bit off in my math you still can get my point?
The CBI plans to widely distribute coins too aligned with some of the Euro currency denominations. So you see the black market will only take the coins and melt them down again (as they did in a prior attempt) for the value of the precious metal. Coins are much harder to counterfeit since it take machinery and precious metals. When it all said and done you spent so much $$ and effort you may as well spend you money buying the real deal. So do you get my point?
The Next Step after launching these lower denoms is the raising the value and putting the dinar on the FLOAT currency regime. This they tell us will complete the process, it is the completion of their currency reform. Done !
Incidentally Iraq is exchanging USD to dinar, we (meaning USA, Europe and Canada) are exchanging dinar to USD and our rates will be what they assign to us. Iraq will get their exchange rate.
So for us (USA, Europe and Canada) we may see significantly higher exchange rates than what the Iraqi people see for their exchange rate but be careful don’t mix apples and oranges. Don’t panic when you see the rate come to 90 cents or something like $1.14 in Iraq. We are going one way they are going the other way for their exchange. Get my point? Read it carefully what I have said above and again if you don’t understand it. It can get very confusing real fast.
Plus remember the IQD will no longer be pegged just to the USD but to a basket of currencies, an SDR.
DEFINITION of 'Special Drawing Rights - SDR' An international type of monetary reserve currency, created by the International Monetary Fund (IMF) in 1969, which operates as a supplement to the existing reserves of member countries. The currency value of the SDR is determined by summing the values based on market exchange rates, of a basket of major currencies.
Remember also the Yuan is coming up an additional world reserve currency and it will impact rates too but the impact on the middle east is not yet known. I do not know what basket is being used for sure for Iraq (can anyone help us?) but I believe it will be a middle eastern alignment to keep everyone on the same playing field in neighboring countries that need to trade.
50 THOUSAND DINARS CATEGORY DETAILS
Scales News / published version of the 50 thousand dinars category details Economy and Tenders
2015-11-12 (GMT Baghdad)
Special - scales News
General manager of the issuance of the currency at the central bank Imran Ahsan, on Thursday, that the trading of 50 thousand dinars category will be early next month.
He said Imran's / scales News /, that "this category of job categories for the advancement of the economy in the country," noting that "a positive step, the issuance of this category for the development of turnover."
He added, "This step will increase the strength of the Iraqi currency structure and reduces the use of the dollar in the Iraqi street While the former currencies on what will be unchanged."
He continued, "The 50th is a high-class specifications for security and aesthetic quality and contain pictures of the most important Iraq Tigris and Euphrates rivers landmarks."
He pointed out that "this project will achieve great success in the conduct of the Iraqi currency path in order to be equal to the other currencies."
The central bank announced yesterday Banknotes version of the 50 new class thousand dinars.
One more item today:
Let’s not forget to keep praying for the success of THESE IRAQI AND COALITION SOLDIERS. I believe their success is in part some of the acceleration of our prayers.
“May there be a hedge of protection surrounding them and let the Victory be theirs against these evil doers who have no regard for humanity! We will pray until we see Victory! Amen “
All these prayers seem to be working.
Till next time…. Auf Wiedersehen!
Peace and Luv To Ya All,