If this isn’t enough of very good news let me shock you with yet another golden nugget today. Are you ready for this one? This too is a huge one. Hey I feel like its November 2015 all over again. Do you remember the news back then and how good it was? We all thought they were going to pop out this RV any day.
So what is this next golden nugget?
First let me say that in November 2015 (and in 2005) the told us that they needed to issue yet two more denominations including the 50k and 100k notes. These notes would remain in circulation forever along with the new lower denominations. So in early November out popped the new 50k notes. Then they told us to watch for March for the new 100k notes and this would conclude their currency denominations going forward. Then they told us the next step would be the launching of the newer, lower denominations.
I quote from the article below – “The central bank announced earlier to issue a new edition category of 50,000 dinars, while likely to issue another edition of 100,000 dinars category”
Well folks…here is an article telling us more about these newer 100k notes. THEY DECIDED TO CANCEL THESE NOTES. Why?
I quote from the article –“ He added that if the central bank went to the issuance of 100,000 dinars, it means that the central will cancel the small denominations of currency. This does not serve the economic situation in the current circumstances”
Please read fully the article below.
PARLIAMENTARY FINANCE EXCLUDE THE ISSUANCE OF CENTRAL BANK EDITION 100 THOUSAND DINARS
BAGHDAD / JD / .. ruled the parliamentary finance committee, the Central Bank issued a new edition of 100,000 dinars category along the lines of 50,000 dinars for the time being, saying that if the issuance will be annulled and some small groups.
A member of the committee MP Sirhan Ahmed told / KD /: that the committee recently met with the Governor of the Central Bank and his accompanying delegation and discussed with him several issues, including the issuance of new categories in the Iraqi currency, indicating that the central bank governor stressed the importance of the issuance of Class 50,000 dinars on the market because of their many benefits, but he did not touch on the issue as another big category of 100,000 dinars.
He added that if the central bank went to the issuance of 100,000 dinars, it means that the central will cancel the small denominations of currency. This does not serve the economic situation in the current circumstances.
The central bank announced earlier to issue a new edition category of 50,000 dinars, while likely to issue another edition of 100,000 dinars category.
So let’s talk more about this article. What does it also tell us?
It is telling us these financial experts are helping the CBI determine monetary policy. So we confirm once again this currency leadership in the CBI does not know what it is doing. For the benefit of monetary policy going forward the IMF (with consultation of the experts probably Dr Shabs and Mr, Greenspan) just excluded the 100k notes from being launched because it would be counterproductive to what that are ABOUT TO DO.
So what is it that they are about to do?
Folks they are about to LAUNCH THE NEW LOWER DENOMINATIONS ! Get it ?
Now for one more golden nugget. Hold on to your seat for this one….Wow!
The CBI just published an article telling us the newer 50k notes, just launched last November 2015, will remain in circulation and will not be deleted. Why are they now telling us this?
They are telling us this now because they want to educate the people that this note is not going away after the launching of the new lower denominations. Also they want the people to know that the other 3 zero notes too are not going away and will remain legal tender and they can use them too, if they have them. There were rumors in Iraq that once the lower denominations were launched the older 3 zero notes would become illegal tender. NOT TRUE! And we all know this is the case as outside observers but remember these articles are not for us but for the Iraqi citizen. Both classes of these notes will coincide for many years to come, however the banks will start collecting the 3 zero notes in the “project to delete the zeros” but this action will be gradual and almost unnoticeable over time, as the notes are turned into the banks. This is the transition phase of the monetary reform process.
See article below. It is hard to read…sorry for the bad translation but even the article title tells it all.
THE CENTRAL BANK WILL NOT WITHDRAW ANY CLASS OF TRADING AFTER ISSUING 50 THOUSAND DINARS
The CBI said on Wednesday that the issuance of 50 thousand dinars category will not be accompanied by the withdrawal of any other category of trading, noting that the issuance of the new category does not affect the economic situation.
The bank said in a statement, "The new banknote to the category of 50 thousand dinars will complete the series of banknotes in circulation is currently and will increase its ability to meet the requirements of the public, and that the issuance of this class or any other class would not accompanied by the withdrawal of any class of trading."
The bank said that the "Print banknote and put it in the trading process (released) are not linked to the issue of public spending has no connection to the state resources or to strengthen their capacity to spend," he said, adding "there was no link between what is marked by the Central Bank of banknotes, and between the cash version achieved as a result of withdrawals from banks balances has. "
He continued, "The issuance of this paper or any paper higher value or lower is not connected with no impact on the economic situation, or in inflation or deflation."
The bank announced in November 11 this about issuing new banknote fifty thousand dinars category, attributing this to the completion of the Iraqi banknotes structure and the development of high-value category in circulation.
Having said all this about the development of Iraq moving into article 8 we all now probably want to know just WHEN will this all happen….right?
All I can say is the decision has been made and I believe we are right on the time table I gave in my last news letter. All indications are telling us that mid March thru mid April may be a timeframe for this event to take place if not prior. Today is March 8th already and so we may not be too far away. Thus our next window of opportunity for an RV could be between mid March and mid April. I certainly hope this is the very last window I ever have to bring you.
So what might we expect now for a new IQD rate?
Of course we know the rate will come out as a float at first and will be lower than expected. I have told you this many times. Many are calling this a “sucker” rate $0.90-$1.14. I assure you this is not their intent to “sucker” you to exchange. You as investors are the lease of their worries in this transition. You simply may be able to exchange if you want but why would you not hold off until the market drives the rate up or the official “revaluation” takes place?
I also know for a FACT that Kuwait has recently requested a rate increase to $4.12 on their dinar currency and need to do it before the end of March. We all know that when the true value of the IQD finally comes out it will be higher than the Kuwaiti dinar in as much as $0.25 to balance out currency rates between these close trading partner countries.
So how will this transition work?
They will then launch the lower denominations to overcome their inflation problem and slowly make the transition to a global economy. Remember citizens are now walking around with pockets full of the three zero notes namely $1k, 5k, $10k, $25k notes, especially after a government payday. Nearly 75% of all jobs in Iraq are government related. How will they collect these 3 zero notes and get them out of circulation?
Well first they will try to schedule this currency swap in between paydays when they feel the average citizen has spend most of their currency and need to get paid again to survive. When they do get paid again it will be on the SMART cards (cashless with new rate) or by cash using the newer, lower denominations. Since the rate is much higher I am sure there will be rejoicing and not complaining.
I am told also the adjustment of banks loan repayment contracts (amounts to be paid back) in the banking systems too has been ongoing and is now ready. So this too is a good sign for us.
It is my understanding that once any of these older 3 zero notes hit the banks they will be collected and turned over to the CBI. As demand increases for more money, the newer, cleaner lower denominations will be used. The banks will constantly need more paper and so, instead of going to the CBI, as in past with the 3 zero notes and getting US dollars (money auctions now end), the banks will conduct a 1:1 exchange for the lower denominations using US dollars or the 3 zero notes with the CBI. They will get newer lower denominations. As more money is demanded to pay foreign debt as companies and importers will demand, this will suck more and more of these 3 zero notes and US dollars overtime since they can now only trade in the newer, lower denominations. Can you now see why they had to issue the 50k notes when they did. These notes will remain in circulation even after this transition. Also remember some of the 10k and 25k notes too will remain and be used by the banks at first but only the ones not all worn out. These are not expected to be used everyday either by the average citizen since they would be a huge liability and invitation for robbery if carried around.
I am told to look for an announcement for the ending of the money auctions.
Some are saying the older 3 zero notes will become illegal tender after a certain date?
This is not problematic. This is however probably one of the most controversial and confused information being passed around. Once again these so called intel “gurus” have stiked and have messed and muddled up everything with their hair brained way of telling you information.
They need to hype you up and to keep you coming back to the forum and intel calls. They need to get your scared then to calm you down. Why? They need your ongoing donations. They need you to keep asking the same questions over and over again on the Q and A.
So now let me clarify this question for you now once and for all. Now you can stop your donations since I am giving you this information for FREE.
Yes this is true and there will be a time limit but they also told us these older notes will coincide with the newer notes for many years to come and so I would not worry one bit about them expiring as far as you as an investor is concerned in the timing of your exchange. Are you planning to wait to exchange for years down the road post RV? Why? Not a worry so relax and tell all your friends also to relax on this subject matter.
These old 3 zero notes will never be meant to hit the streets again once collected. There will always be some US dollars in circulation too but after the global transition they will use the new currency to pay their foreign debts and NOT US dollars. The need to force them to use US dollars for trading with foreign countries will no longer be the case since Iraq will no longer be in a “closed economy” and be now in article 8. They will have a tradable, international foreign currency of their own. The demand alone just on foreign debt payments will drive up the rate way beyond the current 1166-1180.
Does this sound like the completion of the “project to delete the zeros” to you ? Hey! I am excited too!
The plan still remains to wait 1-2 weeks on the float first before moving out the true full revalued rate (we all expect to see). So you see YES there will be a “revaluation” but later. First they need to stabilize the rate and adjust the economy. Call it whatever you want but the initial $0.90 – $1.14 rate is not an “official” revaluation in the terms of the IMF. Get it ? So when I talk RV I am always talking in specific IMF terms meaning the final full “official” revaluation.
Update: Fighting ISIS
Many articles in recent times have given us confirmation that the battle to retake the Mosul is now ongoing and is concluding. We know this battle has in fact been ongoing now for weeks already.
One more item today:
Most importantly please, please, please let’s not forget to keep praying for the success of THESE IRAQI AND COALITION SOLDIERS. I believe our prayers are in part some of the acceleration of the process we are now witnessing.
Remember too to pray to the princess of peace – Our Blessed Virgin Mary. She has the ear of Christ and she can intercede in heaven and bring us the peace we all desire here on earth. We can not do it alone. I believe that if we all make this our daily prayer you will see change. It is already working even in the short time since I have been publishing this prayer section. It does not matter what religion you believe, if you pray then to your oven beliefs entity it is still the same powers and good for all of mankind. Ultimately it is all the same God anyhow.
“Lord, protect Abadi and all who stand with him in righteousness, the Iraq and coalition soldiers who are fighting the good fight against terrorism, that they would be shielded from the enemy and would be victorious against them in the battle for Mosul! We ask that the victory comes swiftly and healing of the Iraqi peoples and all whom have been effected by these evil doers can begin!
We pray for the process of the currency reform, the full implementation of the Iraqi economy to full international status and the bringing of prosperity and wealth to its people“ Amen!
Till next time…. Auf Wiedersehen!
Peace and Luv To Ya All,