Will there be a time limit to exchange post RV?
No-but like I said if you go beyond a “reasonable timeframe” AND you have a very large quantity then many terrorist questions will arise at this time at the bank and you probably will be faced with Homeland security issues. So my advice is don’t wait in conducting your exchange when the time happens.
So if you were to hoard a few of these older 3 zero notes (turn in the rest under the exchange) and then in the future take a vacation trip to Iraq, thinking you could bring them and spend these notes and live high off the hog.,,,,, think again !
Actually in the near future they will be illegal tender in Iraq and you might even get arrested for having them since you might be suspected of being a terrorist. You would have had to intentionally smuggled them into Iraq first of all and this alone is not good.
So don’t do it. Just exchange all of them in your country of origin and get rid of them. If you are planning a trip to Iraq get the newer, lower denomination notes from the bank as you would any other country when going on vacation.
What about these new coins? How do they effect the RV rollout?
The committee on the economy and investment in the Iraqi Council of Representatives, revealed on Thursday 11/6, by saying that "the central bank completed its preparations for the issuance of metal coins of seven small groups."
Said committee member Rep., Nora my neighbor, L / Iraq Press / that "the Central Bank and in conjunction with the implementation of the project to delete the three zeroes from the paper currency currently in circulation, will issue metal coins from multiple categories to overcome the economic crisis, which may get a peer process of deletion of zeros," adding that "the launch of coins project will take between four to five years and will be the launch of which categories of small coins gradually."
So after reading this article above it is telling us they intend also to use the coins to supplement the paper currency along with the newer paper lower denoms they are about to issue to the general public. Also the coins will supplement the larger 3 zero notes too since there is a $10,000 coins. So you see we get back to the same theme. That of deleting the older, original 3 zero notes out of circulation from their paper currency inventory and to do it on conjunction with a revaluation of some kind. They must secure these 3 zero notes for the future international inter-banking transactions first. This was the plan all along to use them.
Now how can they complete this effort of deletion of the zeros unless they also collect our currency (the older, original notes) from outside of Iraq?
There is a risk that someday terrorists can use this older, original currency we have but only outside of Iraq since it will be worthless inside Iraq. So they will want to collect as much of our dinar as possible once the RV happens…and do it quickly.
Maybe we were never intended to own such quantities of this currency as average citizens outside of Iraq. It all could have been stopped, blocked very easily through customs and it was not. The serge of dinar holders increased dramatically over the last 4 years outside of Iraq but still the average dinar holder has less than a million dinar. There is a reason why they (meaning country you live in) are letting you possess this currency.
Two of these reasons I will explain.
1)countries like the USA and China will get oil credits from Iraq (discounted oil prices) for turning in these older, original notes as a bonus for assisting in collecting them for the CBI. This arrangement was made in 2008-2009.
2)many countries all over the world have been seeded with the Iraq dinar as part of their reserve currency portfolio. When the value increases so does the value of their reserves, thus so may the value of their currency. This is plan part of the Global Financial Reform (GFR) an IMF term for a plan to reform and standardize the financial structure and banking practices between nations. There is no such thing as a Global Currency Reform (GCR). This term was misunderstood many years ago by these know it all “gurus”. Thus the rumors began.
The hope is that these measures will prevent one country (or a few countries) from taking down the world’s economy. The plan is to eventually district the planet into financial zones so when financial downturns occur the impact will be limited to that district or zone that caused it. It is like damage control versus prevention. You see, what was so bad about the 2008 collapse (and why it is taking so long to rebound) is because it was so wide spread and effected almost ever financial and monetary sector on the planet. Every country was so interconnected financially in the markets and financial products. By seeding Iraq dinar in many of the hurting countries it was hoped they can kick start the economies of these countries when the revaluation happens. Still the IQD revaluation is only a band-aid not a permanent fix.
Some are saying a slow revaluation of the IQD would be best and putting the currency on a free market float. Others say that they need a sudden and quick high rate (reinstatement plus 20% equity). I believe it will be a bit of both when it happens. I am saying this because this is what I have been told when I asked my CBI contact.
So today I send you an update of the latest news I am hearing. It is just where we want to be at this time. In fact there is an excellent window of opportunity to see the RV in the coming days, not weeks. As I have said in my previous news letter, we are in a sweet spot right now to literally see this RV in the coming days ahead. This is by far the best place I have ever seen this investment in the 10 years I have been following it.
I hope I helped you understand why the CBI is taking such a long time in rolling out this RV. I have had many long conversations with my CBI contact since my last news letter and he talked about some of the programs they have instituted to assist in fighting current and future counterfeiting and financial corruption. He also gave me some insight as to collecting the older, original 3 zero notes and why it is imperative to get them too out of circulation and do it quickly once the RV happens.
I see that we have passed the Oct 31st target for completion of this RV process as I am hearing now the new target is the mid Nov timeframe. This is only about a week away and so I would not worry. Even if they make us wait till early 2015, it is all still worth the wait. I feel like a kid looking at my gifts under the Christmas tree with great anticipation of the treat the lays ahead.
Then when can we expect the RV?
I believe we are in a rare opportunity and window like never before. In the coming days we should expect the RV.
Peace and Luv To Ya All,