Remember I am not calling a date for the RV. What I am doing is bringing you the news as the government and the CBI announce it. I add my commentary in RED to help you understand.
Why all this news now?
As I told you they will have to explain the project all over again to the citizens since it has been about a year already since they last tried to do it. They are now ramping up to do just that. I expect even more news in more detail coming out very soon in the coming weeks on the final details of just how they plan to do.
I expect they will give a deadline (a time limit) as to how long the Iraqi citizen has to exchange the 3 zeros for the new lower denomination notes before they expire. This is of course in Iraq only. I want to emphasis this over and over again. We know the 3 zero notes will remain in circulation (but more for the inter-banking transactions) for 10 years.
If you look at the BIG picture you will realize that us investors will be like the bankers in Iraq, who will remain holding the large 3 zero notes and use them mainly for inter and intra country commerce. Only the value will change significantly from what it is today, IF YOU WERE TO USE IT INTERNATIONALLY.
So let’s take an example. I need everyone to understand fully what is about to happen in Iraq. So someone buying a condo for 100,000 dinar will go to the bank and get 4 each 25,000 notes worth $100,000 to pay the owner (or the bank will just transfer the funds for them electronically). Note I did not give a rate. Do I have to? Why would they need a rate? Stop thinking like outside country investors for just a moment. Iraq fully intends to use dinars not USD. So a dinar is a dinar. Right? No need to convert anything. For value? Value in what? Value of dinar in US dollars? Why? Iraqis use dinars not US dollars.
Okay to satisfy everyone lets do this conversion to US dollars but remember this is ONLY in Iraq. Thus when they exchange a 25,000 note (now worth $25 US dollars based on 1200 dinars per a US Dollar they will get one 25 note. Yes just one 25 note. Why? No change in value! No RV. Get it? They are just adjusting this currency for inflation.
A simple change over rather that looking at it like a currency exchange. Just like when Saddam Hussien post war notes were converted to the 3 zero notes, the citizens got so many 3 zero notes per Saddam notes. Yes it can be confusing if you are outside Iraq looking at it and always trying to go back to the USD but you are not an Iraqi citizen. You are an outside investor and should be converting ONLY to your own country’s currency since your country uses what it uses.
So when does our RV happen?
So your RV and my RV will happen only when you or I go to exchange our dinars at the bank. The bank currency exchange office will look up the “exchange rates” from dinar to many international currencies namely the one you want ie. US dollars, Euros or Canadian dollars, etc. Then they will simply convert your dinars for you. So how many US dollars do you get for one dinar. You are not exchanging your 3 zero notes for the new lower denoms. Get it? You are exchanging for YOUR currency.
So if you worry about what they are about to do, be calm, stay relaxed and just use my example above and you will see it. But above most all – STOP LISTENING TO ALL THESE “intel gurus”. They are not bright people and will confuse you even more with their gobbly goop.
In Iraq the only conversions (or exchanges) to the US dollars or any other currency will be limited to a certain amount and for special purposes only, like traveling outside the country. They just recently put these restrictions in place. I showed you the article.
They do not want incidences of the US dollar getting in the hands of terrorists or to work down the CBI reserves any more than it is already. This is why now the urgency to pull the plug on the currency launching.
Now the anticipation….
Yes- we all should be very excited now, Mnt Goat is VERY excited, but I am also VERY cautious and know they can also postpone this effort again if certain mandated reforms and reconciliation efforts fail. They have already postponed the project twice already in 2012-2013 and again in 2015-2016. But we also know they can not grow their economy either without a real currency as Parliamentary Finance Committee Magda Tamimi told us once again last, Saturday in her published article. I show you the article below. There is just 47 days remaining in 2016. Many say this event will happen prior to Jan 1st 2017. I will tell you THERE IS ABSOLUTLEY NO EVIDENCE SHOWING US OR TELLING US IT WILL HAPPEN SOONER! Can it happen prior? Anything is possible and if it does it does. But why can’t people just listen to the CBI and the Govt of Iraq? Why do many always have to interject and use some illogical sense to put a spin in the news coming and then confuse us and show their stupidity.
So recently we heard all the very good news about the Reconciliation Law effort being drawn up and now presented to all of the secs for acceptance, especially the Sunnis. They are very serious this time. There is no more fooling around here. The law also conditions what will happen to Mosul provinces post ISIS and all the non-Iraq fighting forces in Iraq. I will not address this anymore and you can research the contents of the new law yourself. It is very significant and CAN NOT fail if we expect to get an RV.
Then they popped out news about the HCL. They told us it too is all completed but still needed the law presented to parliament and passed to make it all legal and long lasting. It now sits in parliament waiting for the final readings. We also know it is in the 2017 budget which will be voted on Nov 26th,,,.so we are told. This law is mandated by the government and the USA (per G.W. Bush).
Sheikh Mohammed, the demonstrators Sulaymaniyah: Erbil has not implemented the oil accord with Baghdad and the staff of Kurdistan
Twilight News / accused the Presidency of the Iraqi parliament member Aram Sheikh Mohammed, on Saturday, the Kurdistan Regional Government in its commitment to implement the oil agreement between them and the federal government.
Sheikh Mohammed said during a meeting with representatives of the protesters from teachers and teachers in Sulaimainh province, he said he "will not hesitate to support the demands, and the situation now is out of a frame of speech. It is time to work hard and put points on the letters."
"We agreed and we voted on the oil agreement between Baghdad and Erbil have been installed in the budget law, according to what demanded by political parties in Kurdistan and they told us we will implement the prospects in all its details but unfortunately has not been implemented," persisting saying that "now is the staff of the province and the rest of the citizens of the Kurdistan people pay tax ".
And left hundreds of teachers and teachers earlier in the morning in the provinces of Sulaimaniyah and Halabja in demonstrations in protest at the continued lack of salaries and financial entitlements Exchange due to the economic crisis experienced by the Kurdistan Region because of lower oil prices in the global Alausaq. (I presented this article to you because I know that there is extreme pressure by both Kurdistan and the Baghdad government to fully implement the oil and gas agreement, but I also know that they need the new HCL law in place and it MUST be voted on in parliament or else it will fail and fail again and again, as it has in the past. Sadly enough, without getting this new law in place could turn out to be a reason why they postpone the project to delete the zeros again come 2017. So we watch this effort and see what happens. It is very important to us and the RV! )
Tamimi: Iraq's money wasted on phantom projects and privileges of officials and currency auction
Special scales News
He said a member of the Parliamentary Finance Committee Magda Tamimi, Saturday that Iraq's money wasted huge amounts of mostly fictitious projects and privileges of officials and auction currency, calling for the activation of other non-oil revenue for the advancement of the country's economy again. (of course she is talking about the CBI reserves and how it is now down to 40 billion USD and all the corruption involved in this process. She is saying something must be done and do it now. Okay so we heard all the about advancing the Iraqi economy. So what is the hold up? Why is it not progressing? Read my lips – THEY NEED A REAL CURRENCY).
She said Tamimi's / balances News /, that "the government if they have the will they will be able to advance the country again and build its economy and rely on other non-oil and activated ignoring the oil revenues to the fact that continuing on its imports to provides little something to build a strong economy and the government continues regardless of his money on salaries. "
She added that "we have to take advantage of the current crisis for the advancement of a new state must re-calculations and correction of trajectories and the search for the reasons that the state treasury emptied of money and made it unable to rely on loans."
He noted that the "huge amounts of money to the country bellowed mostly fictitious projects and privileges of officials and auction currency," adding that "every employee has a car, maintenance and fuel, all of the state and the property was sold after the 2003 five thousand dinars per meter, although he value of 5000 dollars."
She noted that "the current crisis, the belief is the beginning of success," adding that "there must be a comprehensive review of the salary scale in the state and privileges of officials and their properties and their salaries" (she is saying let’s capitalize on the current ECONOMIC situation to make the necessary changes and advance Iraq forward)
Reasons for deleting three zeros from the Iraqi dinar
The reasons for deleting three zeros from the Iraqi dinar and what it means to delete the three zeroes from the Iraqi currency, the fact deleting three zeros from the Iraqi dinar, the official source at the Central Bank of Iraq, said that the beginning of the beginning of 2017, will the Central Bank of, Iraqi deleting three zeros from the currency of Iraq, Finance Committee also announced in parliament that the central bank will start at the beginning of 2017 by deleting three zeros from the local currency, in other words, that the unity of the coin in 1000 dinars from the old currency will be replaced by only one denarius of the new currency,and so on. (once again we got confirmation the fully intend to start up the project to delete the zeros in again in early 2017. Also the gave an example of how the project will work and also confirms again the value initially will not change but the RV will come later as a result of the change i.e. 1,000 = 1)
Start procedures to delete three zeros from the currency in 2017
Going on in the minds of many Iraqis that the important question of whether to raise (the zeros from the Iraqi dinar) harm or benefit? Thus why do not we raise the zeros, the official source in the Iraqi Central Bank stressed that the purpose of deleting three zeros from the currency of Iraq is to lift the economy and prosperity to raise support for the dinar, which will be a key reason for the return of Iraq's economy again in January 2017, the step by Iraq intended to reform the local currency system based on the use of the currency too high denominations, which leads to difficulties in handling and in private transactions accounts, as well as higher prices resulting from the use of monetary units higher categories, which leads to a decline in the currency and declining purchasing power exchange rate the dinar in a big way. (WOW! Now they even gave us a closer timeframe. They actually said January of 2017 not just early in 2017….WOW! )
CBI decision to remove three zeros from the Iraqi dinarIraqi Central Bank chairman said that the deletion of three zeros from the Iraqi dinar will help in flourishing once again the Iraqi economy and the return of the Iraqi currency traded in international stock markets, the deletion of zeros restore Iraqi currency mind in periods of monetary turmoil and declining public revenues of the state at a time when the expenses increase, resort states often to print more of the local currency, leading to price hikes and the occurrence of high inflation, the need to cross categories with high currencies such as the one thousand and one million one hundred thousand ... etc., and with every raise in the denomination as the economy enters the furnace of inflation. (this article reinforces that the project to delete the zeros will in fact also end only once. (telling us that, in fact the project to delete the zeros will lead to the currency moving back to an international status and traded on global exchanges, thus they move out of the closed economy and to Article 8 of their UN charter. So now everyone knows without a shadow of doubt this is the project that will get us the RV. So I don’t want anymore debate from you so called “intel gurus” on this topic. I have been saying this for over 6 years already its about time everyone else gets onboard!)
Why delete the three zeroes from the Iraqi dinar
The aim of deleting three zeros from the currency of Iraq is one of the means to control the high inflation is monetary reform, coupled with a change in monetary policy by the old currency high Pfiadtha replacement of a new currency with lower categories so prices tend to decline, but does it increase on inflation? The answer is no, because the elimination of inflation is required to follow state moderate monetary policy, an official at the Central Bank of Iraq and stressed that the Iraqi dinar will be the vital currency in global stock markets and the central bank is currently discussing the principles of starting the project and its laws on the beginning of the project of the year 2017 and stressed that the new currency will not have a significant impact on the major currencies, but will raise the Iraqi economy. (so once again they are confirming to us that the project to delete the zeros will lead to a global status of their currency meaning going international and that is when we exchange out our dinar as investors. It all sounds very good. Also they are confirming to us the project to delete the zeros will have little impact on the SDR basket , the major currencies it will gauged with)
I am very excited and so should you. The question always lays deep within my mind is this – Will they find another reason to postpone the project to delete the zeros again? We know they now have a new target and they have told us now this target is January 2017 not just early 2017 anymore. So we are getting very close to this target.
The aim of deleting three zeros from the currency of Iraq
The official source at the Central Bank of Iraq emphasized that the purpose of deleting three zeros from the currency of Iraq is to lift the economy and prosperity to raise support for the Kuwaiti dinar, which will be a key reason for the return of Iraq's economy again. (so now we also have confirmation that there is pressure from Kuwait too to stabilize the Iraqi dinar as they are neighboring trading partners. Could this also be true with Iran since, if they correct the Iraqi currency and do nothing with the Iranian Rial, this will allow yet another disparity in trade with Iraq and Iran? So is there also a necessity to bring the Iranian Rial to Reality (no pun intended…lol..) since Iran too is (will be) a major trading partner with Iraq along with Kuwait?)
He stressed that the Iraqi dinar will be the vital currency in global stock markets and the central bank is currently discussing the principles of starting the project and its laws on the beginning of the project from 2017 and confirmed that the new currency will not have a significant impact on the major currencies, but will raise the Iraqi economy. (Okay in this paragraph we hear news that the CBI is now coming up with a strategy on how to start up the project to delete the zeros when they begin in 2017. So tell me this – How in hell could the lower demons already be launched, as many of these so called “intel gurus” told you last week this was already done? Please tell me why they would now just publish 6 articles this last week alone on this topic, if it were already done. I will tell you why – read my lips…BECAUSE THEY HAVE NOT ALREADY LAUNCHED THE LOWER DENIMINATIONS - that is why. Get it? So please Mr guru stop spreading all your nonsense! )
Iraqi Central Bank chairman said that this step will help the Iraqi economy booming again and the return of the Iraqi currency traded in international stock markets.
(here it is again – “return of the Iraqi currency traded in international stock markets”. This is what we want and this is ONLY when we exchange our dinars at the bank, get it now? No privileged early exchanges)
I know the CBI decision to remove three zeros from the currency of Iraq beginning in 2017
Their words not mine…..No Rumors, No Hype, Just the FACTS!
Much love to ya all,