What does this mean to us waiting for the RV?
This was huge, huge news! Did I say it was huge? All of these things will stabilize the currency of Iraq in the international market once it is rolled out and value increased. Was it necessary? Necessary to get the RV – no! Necessary for the ones who are determining when this RV will happen – yes!
The big million dollar question now is - Could there be yet more items on their checklist needed to be done prior to the RV happening? It’s what we don’t know that may be holding it up. We just have to relax and let it all play out.
Could the news get any better this past week? WOW !
Two major, major events took place and both very significant for us dinar holders.
The signing of the final paperwork for Iraq to enter the WTO and the amendment to EO 13303 freeing up the assets of the CBI, now no longer under sanctions within the USA.
It is my strong feeling we are looking at possibly around mid July towards the end of July before we see the announce of the fully, functional, stable government. I certainly hope it all happens prior to this date.
I am attempting to track events that will lead up to the RV but it is almost impossible since no one person really knows what to expect except the very high level planners. They are also constantly trying to anticipate what tasks must be completed prior to kicking off the final RV and so for even them it is all dynamic.
Think of the RV as the final grand finale during a fireworks display on the 4th of July. Some are seeing the lineup of the fireworks and think this is the finale but all we keep seeing there is yet more of the same spectacular events but no finale. But it is coming and it will not be long from now.
Remember too that there is a matter of debt payment to the Paris Treaty countries that is due within about 10 days upon release of the DFI funds. There is also a whole lot of other events and contracts hinging on having an international currency. Some have already been miraculously worked around. So knowing these events is sometimes just useless stress and anticipation on our part anyhow.
My biggest worry now is that Maliki still sits at the helm legally until June 14th so anything is possible. What monkey wrench will he try to throw into the mix to screw up the process? We have already witnessed what he is capable of in Al Anbar and Fallujah (a city in the Iraqi province of Al Anbar) and his anger with the Kurds over the recent selling of the oil. We know he has had every opportunity to fairly and honestly honor the constitution and do what is right to the Kurds. He procrastinates and stalls. Can you honestly now blame the Kurds for the workaround the GOI they are now taking? So I encourage you to pay attention to all past events when deciding who is the culprit and who is now braking the law.