(Thank you George for sending this to Dinar Recaps.)
UU6842 –“ Launching of the Lower Denoms – Truth or Fiction? “ by Mnt Goat
I am only reporting on the articles and news from Iraq. Then trying to make sense of it all just like you are. So let’s work together and see if we can make any sense of this latest news and what it means to our investment and this ongoing RV saga.
Sometimes we get into a mind set for many reasons as to when this RV is going to occur. Sometimes it is not reality but a fictional world full of dreams and only frustration. Many have their own agenda and intentionally falsify information to get you excited. Many have very good and honest intentions but still that does not make their information any more solid or escape their responsibility to find the truth. Honest intentions does not make fiction into truth. Truth is knowledge - plain and simple.
I am discontinuing the Q&A as I said I would allow only a couple weeks and that is what I allowed.
Today is Monday December 7th and yes we are now into early December already. It is Monday again and so we sit without any RV once again. With all the hype last week many thought we surely should have had the RV by now. Really? I have to tell you there was absolutely NOTHING last week that could make a point that the RV was immanent, NOTHING!. All of you reading my past news letters and this news letter today should know why I am saying this.
Sorry to disappoint everyone ! ….lol….lol…
Many events seem to converge on the month of December and so let’s pay close attention to what is happening this month. I believe this will be a very significant month.
I know I have not published a news letter in a week. I do not publish news letters just to hype you up. I get no “ego” kicks or thrills off my work. I make no payment of money off of anything concerning this dinar revaluation.
Composing these news letters is time consuming and takes away from my family time. So I would not deliver them if there wasn’t something of value to bring you. I feel for all you fine folks being fooled and tricked by these charlatans of so called intel “gurus” and so I try to help you.
I am not going to hype you up today with some nonsense rumors or info about the lower denoms being launched or the RV having already taken place since none of these events have occurred.
So today I know my news letter is exceptionally long as I have to also clarify many misconceptions and lies about what is happening. Basically I have to clean up the damage brought on by these other people from last week’s misinformation.
Again I tell you to print it and sit back in your favorite chair. Pour a nice cup of your favorite hot beverage, relax and read. But do read it carefully, since it is full of news you need to hear, if even hearing it for the second time.
Update: Currency Reform
I want to keep all of us focused on the truth always and nothing but the truth. I do not like rumors and I have no need to keep hyping people up for every weekend RV over this currency reform process. The reform process is actually a 2 year process and once stopped it is like stopping a train and so the start it again it takes effort and time. But the train is rolling once again and picking up momentum. It is almost at its destination (NO – the plane has not yet landed and no one is stuck in the cockpit…lol…lol….).
So let me clarify 4 points once again where many are still VERY confused and stuck on. This has happened because they do not take the time to research for themselves but would rather listen to these screw ball so called intel “gurus” who feed them this MISINFORMATION and NONESENSE.
1. Lower denominations are being launched in regions in Kurdistan
2. Clarify confusion and rumors over the launching of the new 50,000 notes a couple weeks ago
3. Clarification on - The CBI must find a way to increase the value of the dinar over the US dollar
4. The new US Treasury Notes (TRNs) or movement of USA from a fiat currency to a gold backed currency
Rumor #1 - The Lower denominations are being launched in regions in Kurdistan
First let me say this is an absolute JOKE and no lower denominations have been distributed, just so I am very clear on this subject matter.
Many of these so called intel “gurus” have told you in the past the process of the RV intended by the CBI. So why don’t they now apply it to what is happening?
They told you (and I told you) that in order launch the lower denominations they must need a significant increase in the value of the dinar first. These two events MUST coincide within hours or days of each other. They seem to know the process but now give you contradicting information. Why can’t them apply this nonsense intel they receive to what they already know?
They can’t apply the currency reform process to the present situation.
Folks there is no mystery or conspiracy going on here. So why now are they telling you that Kurdistan is launching the lower denominations? Yet we don’t see any significant increase in the value of the dinar?
These same sources do not give us any sound FACTS to prove their statements. Thus a logical person would call them only RUMORS. Rumors have no FACTUAL basis. They can’t give you any FACTS because there are none to give. Funny too how last spring and also years ago they perpetrated these same RUMORS (I call them down right lies) on you. Does this strike you are weird? Do you remember? So just how many times can they launch these lower denoms….loo….lol…? Seems these intel rumors keep floating around and being recycled.
Seems even they can’t follow their own process and remember what they told you about the process in the past. That shows you how true they are to the process and how faithfully they bring you the truth.
I know for a fact there are some jokers in Iraq that are misinforming us. I have told you this before and I hae told them. These conference call sponsors just pass it on to you as intel. They tell you to take the information and do what you want with it. Really? Then why do we need them? What good are they?
Like you, I have the knowledge to know better? Aren’t THEY the so called intel “gurus”? Aren’t THEY the ones claiming their intel is the most current? Aren’t THEY the ones that keep telling you their sources are so “high up”?
So then why do THEY now tell you that their info should have no impact on you and that you should just ignore it if you don’t like it. No taking any responsibility for their own actions.
THERE ARE NO LOWER DENOMINATIONS BEING LAUNCHED IN IRAQ !
Remember that the CBI has been guiding us all along on the progress of the currency reform. Do you think for one second that they would not be telling the people what they are doing. So far they have guided them all along this currency reform journey. So why would the mysteriously now do something without even publishing it ? If it sound like nonsense it usually is.
Just as when they replaced the old Saddam Hussein notes, they will fully inform the citizens of Iraq when they launch these lower denominations. It will be all over the news.
There will be a strict timeline to turn in all remaining 3 zero notes and this too will be in the heart of the news. Has this been announced? NO- and this recent nonsense of lower denoms be launched is all just nonsense and goes against the entire process of currency reform, a process that the CBI itself has told in the past us over and over will occur. So relax!
So let me bring to the news letter today once again an article that was published from Iraq about raising the value of the dinar and why this is very important to do and DO IT NOW.
Why would they publish such an article if they “secretly” already increased the dinar value and launched the lower denoms, but only in Kurdistan?
I quote from the article – “ economic convinced strong that the decline of the Iraqi dinar exchange rate with a surplus in the balance of payments reflects the fact that the national currency undervalued real value, so there is an urgent need for action to raise the value of the dinar in the exchange market through direct and constant intervention of the Central Bank Iraq to reduce the SALE PRICE OF THE DOLLAR AGAINST THE DINAR IN THE CURRENCY AUCTION.”
But wait a second the currency auctions are going way at the end of December !
Do you see what is going on here? Can you see now what the FUTURE has in stored.
AN URGENT NEED FOR ACTION TO RAISE THE VALUE OF THE DINAR IN THE EXCHANGE
Dec 6, 2015
BAGHDAD - Imad emirate
There are economic convinced strong that the decline of the Iraqi dinar exchange rate with a surplus in the balance of payments reflects the fact that the national currency undervalued real value, so there is an urgent need for action to raise the value of the dinar in the exchange market through direct and constant intervention of the Central Bank Iraq to reduce the sale price of the dollar against the dinar in the currency auction.
This form-oriented basis points in the direction of strengthening the exchange value of the dinar against the dollar, by taking administrative decisions in a row by the monetary authority, this argument completely intact from the point of this analysis Aloguetsada.dmn oriented academic d said. Awad Fadhil importance of this road in the exchange rate management to be desirable high domestic inflation rate, and raise the value of national currency against the dollar from 2004 until the first quarter of 2010 was in line with the objective to be achieved, a stop the rise in the general level of prices, and strive to reduce the rate of inflation at acceptable levels economically, but who got to the monetary authority continued to approach raising the value of the dinar against the dollar (ie reduce the value of the dollar denominated in dinars) after the decline in the rate of inflation and to control it and install the official exchange rate at a level may not necessarily reflect the level of equilibrium in the market. And when you return to economic indicators easily realize that increasing the degree of intervention in the exchange market and the persistent administrative move towards the low value of the dollar or the selling price was not officially compatible with fundamentals Alkla.ooodh d.Awad when devoting the vast proportion of resources in favor of consumption this with limited capacity in the absorptive INVESTING energy, low competitiveness of industries producing goods traded (except oil), and the tyranny of service activities and the acceleration of price levels and the high level of unemployment and the decline in the relative productivity of industrial and agricultural sector and high production costs All of this leads to the effect brake on Aloguetsad.utaba development:
It is practically impossible that a single monetary tool you can achieve more than one goal has not been used other tools to achieve especially necessary adjustments both financial and structural including help to put the economy on track, the dosing sequence in adjust the exchange rate administratively was in itself incompatible with the economy as a whole as a result of this situation that eventually become the national market value of the national currency is determined in response to market forces, which in turn reflect the economic and political situation in the country is desired.
It is normal in this case to become the nominal exchange local currency denominated higher than its market value any higher than its equilibrium, reflecting the possibility of the dinar exchange in the market price moved to a lower level than the level at which settled upon by government intervention and the imposition of decision Aladarei.okhls to say:
This economic vision strengthened through the big difference between the dollar sale scheduled to price in a market auction Central Bank and its price generated in the free market by supply and demand forces of reaction, since no longer the difference confined to the rank of decimal but exceeded for up to two places decimal places, and so is no longer within the limits or economically acceptable ranges at the international level and Mahla.alomr other is that private demand for the national currency prevailing market price or the current is less than the total special offer, and that the central bank intervenes in the foreign exchange market to buy the difference in order to support the local currency internationally. This shows clearly that the Iraqi Central Bank intervenes to artificially create intentional or on the request of the national currency against the Show more foreign currency, so that the quantity purchased from the local currency, which was higher than can be purchased in normal circumstances to sustain high and stable exchange rate.
The next article I present below is nothing more than more rhetoric about the recent launching of the new 50k notes. There is still much confusion in many about exactly what happened in this regard. So let me clarify it today.
Rumors #2: Clarify confusion and rumors over the launching of the new 50,000 notes a couple weeks ago
Simply put last week the CBI halted the 50k notes since there was so much negativity about them. The people want to get rid of the 3 zero notes and do not want more of them. They want a real currency and are tired of having to carry handfuls of 25k notes to the marketplace just to purchase a small bag of groceries. The worst issue is they have been told over and over again the change is coming. So where is it? They are confused over the process the CBI is undertaking. But they do not know the entire process and so the CBI attempts to educate them as I am educating you.
The claim of hyper-inflation caused by the 50k - Is it real?
It can be real (if it continues without an RV) and the people were told these newer notes were not meant for the general public yet they see them in the banks, in the markets and are allowed to buy them. So they ask what is going on? There is much confusion.
We know the real purposes of these newer notes as they told us these notes are dual purpose. The CBI itself told us this in many past articles. Remember? I am not making this stuff up.
First Reason - to lessen the amount of 3 zero notes in circulation and to provide more security features on the currency (almost impossible to counterfeit). To draw in yet more of the 3 zero notes that are going away. The new 50k notes are NOT going away and will be remaining post RV.
Second Reason - and later, at post RV, to be used for “inter-banking purposes for very large purchases”.
So in regards to the second reason I have to ask this question - How can anyone make a large enough purchase to make it more convenient to even have to use these 50k notes (worth now only about $22.46 USD). Why would this require a special bank to bank transaction? Groceries for an average family in Iraq ranges around $100 USD.
I give the example of buying groceries because you wouldn’t need the new 50k notes if it was just for everyday spending. Instead they are meant for buying a new home or even a car. But at the 1166-1180 rate it would still take a basket full of currency to make the large purchases without a sizable increase in the value of the currency. Get it?
Now if they did launch the lower denoms, without a substantial change in the value, it would take truck loads of currency to buy just a bag of groceries. Do you get my point? So no change in value, no lower denominations !
So commons sense tells us these lower denoms and 50k notes are really meant for use only after a significant increase in the value of the dinar. So why then would they launch them so early? This brings us back to the FIRST reason. The CBI told us why they were launched them so early. It was the CBI not Mnt Goat telling you it was to collect more of the 3 zero notes (in particular the 10k and 25k notes) and get them out of circulation. The CBI not Mnt Goat and I presented you with articles in past news letters to prove my statements. NO Hype, NO Rumors, just the FACTS.
So what we are now hearing is the FIRST launching of the 50k notes were not widely accepted, which tells us the FIRST part of the process was unsuccessful and they told us this too when they “postponed” (or more like “halted”) the first launching.
So now why would they tell us over and over again in so many articles that they fully intend to continue distribution of them again in 2016. How can they do this? Don’t they know the FIRST launching was a flop? Oh – but wait a second ! Maybe they plan to first RV prior to re-launching the 50k notes in 2016?
Don’t forget they also keep telling us they fully intend to launch the new 100k notes in 2016 too and also even a new 500 note. So what’ this all about? Surely they will not do this either without an RV.
Otherwise would this not add more insanity to an already sour spot with the citizens if they did not intend to first increase the dinar value significantly? Just questions you have to keep asking yourself. THINK, THINK ! Just don’t sit back and listen to all this recent info being told you in these forums or intel conference calls.
So in conclusion where do you think we are in the stages of the project to “delete the zeros”?
Can you see the writing is on the wall since they fully intend to do something VERY SOON but they have not yet done it and there is no reason to get overly excited, not yet anyhow, but our excitement time is coming SOON! .
Remember the project to “delete the zeros” is only a small part of the overall currency reform process. We have seen many steps already. Years ago they told us that when they get closer to a significant change in value they first had to launch these newer denominations. We all assume they were only the lower denoms but what they really told us was they needed the 50,000, 100,000 and the 500 notes too. Now we have witnessed them launch already the 50k and we know the other two notes are coming in 2016. Are you excited? I am but not hyped up to tell you the RV is hear already. So let’s not stretch the truth and only talk about FACTS and what we know to be FACTUAL.
Rumor #3: The CBI must find a way to increase the value of the dinar over the US dollar
There are many rumors this had already been done. Really? Many people out there even are tracking a graph of the daily value of the dinar thinking it is already on some kind of a “float” and it is just going to “float” to the value we need (1:1). Really? They forget one thing though – its not yet international? The RV and only the final RV wll get it international. So how is it now going to “float” then? Who is telling you this nonsense? Do you know anything about the currency reform process?
Okay so we know the dinar is not yet on a “float” and we are not waiting for the value to “float” its way to the 1:1 value we are now waiting for. If the CBI already fixed this problem then why so many articles about it not being done and the CBI trying then to find ways to do it (meaning get the dinar on par value with the US dollar)? It would have to be done already too if they were in fact launching the lower denominations but we know they haven’t and we know the dinar is still almost worthless to the US dollar.
So let me talk a little about the currency auctions and see if you can see the culprit(s) as to why the are having such a hard time making the dinar a 1:1 with the USD. Remember too I told you before that when they do achieve a 1:1 value this it will NOT BE THE RV. The full blown RV comes later to bring the true asset backed value to their currency but first they MUST be able to control it inflationary value at par to the US dollar (IMF mandate). The words of the IMF not Mnt Goat’s words. Take it and chew on it for awhile…lol…
Discontinuing the money auctions at the end of December
More FACTS - The CBI has told us in two articles already, one of which I presented to you in my past news letter, that they will scale down the money auctions to the point of discontinuing them at the end of this year (meaning the end of 2015). Do you really understand what the auctions do for Iraq?
The CBI sells dinar at these auctions for US dollars. This helps increase the CBI reserves. Countries do not keep their own currencies in their reserves. Instead they keep valuable, stable currencies of other countries. Thus Iraq wants to collect US dollars. Iraq also now wants to stabilize and diversify their reserves and will probably soon include some of the Chinese Yuan. Is this holding up the RV – you might ask?
Link to PART 2