So I recently jumped on the phone and talked to my CBI contact.
What was I told?
I was told that YES they are now going forward with the project to delete the zeros. So this also confirms what I heard about Iraqi TV and news media stations broadcasting this news last week.
My contact would not give me a firm date but said that without Dr Shabibi having full access to the mechanisms to launch the process of the initial rate increase, the CBI could not make the needed process work. The FACT is we now know for sure that Dr Shabibi is not at the helm in the CBI, since I just recently presented an article confirming this news. Do you remember?
But there is one exception timeframe built into the process. But only one timeframe, one time of the year.
This timeframe is the first week in January. In other words, with the correct security credentials, a knowledge of the process and with minimal training someone, besides Dr Shabibi, can actually manipulate the systems needed to move the currency forward. To me this tells us that we can expect them to do something significant sometime within the very first week of January 2017. Of course this is still just my guess. But a very good guess based on other factual data and not some “secret sources”. We await for the final report card to the IMF in mid December on financial reforms progress.
I am not trying to hype anyone up with this news today. If you were smart you would have connected the dots already yourself anyhow. I am only bringing you the news as I see it being played out. I am trying to explain it for those who don’t yet see the significance of these last couple weeks. It is up to you to “jump over the fence” and believe it or NOT.
So I am also told that the CBI will NOT just pop out all the new lower denominations at once, but will gradually launch them as they adjust for inflation as the rate slowly increases over time. I am told the rate will float.
So there you have some more of the pieces to the puzzle. Do you see it? Can you begin to see the picture taking place?
I don’t want to be presumptuous but I believe the CBI just told the rate will come out low and will slowly rise. What do you believe this means?
Oh – we are not done yet….more news follows…..
Long-Presse / Baghdad
Revealed the Commission on oil and energy parliamentary, all efforts to pass a draft oil and gas law, as amended, accusing some of blocs and political parties to derail approval for "incompatible with the interests", while the speaker of parliament adviser count to modify it "has become inevitable," the Kurdistan Alliance confirmed submit proposals received b "admissibility" of the National Alliance on the project.
Political blocs, "you do not want to" pass a law to preserve the "interests"
A member of the Committee, Awad al-Awadi, in an interview to the (long-Presse), that "the failure to pass the oil and gas law in parliamentary sessions the previous two due to a political decision rather than a technical", accusing some blocs and political parties to "not wanting to maintain law and incompatible with the political and partisan interests." . (
(once again they are telling us there must be an HCL law in place and voted on in parliament. What the hell else is this entire article about, then to put pressure on the blocks to submit to the amended law or shut up!)
He revealed al-Awadi, for "seeking views on the Commission to prepare a new draft law agreed upon by the political blocs to be passed in the parliament and the law is passed as soon as possible", referring to the importance of the "enactment of the law to organize the work in the oil and gas extraction and an end to the differences between the governments of the center and the provinces and the Kurdistan region on View industry oil. "
Amend the draft oil and gas law "has become inevitable."
It said adviser Chairman of the Board of Representatives for Energy Affairs, Ali Fayad, said in an interview to the (long-Presse), "The amendment of the draft oil and gas law during the current session has become inevitable after the expansion of the size of the differences it, as well as the new consensus that formed on the basis of the current government." noting that "the project, which was launched during the previous parliamentary sessions is still under discussion and criticism of some of the blocks in which a lot of problems and injustices right to see, particularly the Kurdistan Alliance."
He noted Fayad, that "some blocks sought to modify the project and asked again began since the second session of the parliament and continues without doing about my grandfather," expected to "play to the oil and gas committee studying the proposals made by some of the blocks to modify the project and re-put to the vote." .
Kurdistan proposals are to "admissibility" National blocks
In turn, the Alliance MP and head of the Oil and Energy Committee in the House of Representatives Iaraz Abdullah Ahmad, in an interview to the (long-Presse), "Thedraft oil and gas law has long taken a great deal of discussion of the political blocs as regards imports of the center and the region and revealed through a lot of facts lost on the region benefits, "pointing out that" the project has received during the discussions of the importance of negotiating committees by the Kurdistan alliances and national efforts that led to the formation of the current government. "
Ahmed said, "The Kurdistan Alliance has prepared a paper containing a set of proposals on the project were discussed during the meeting of negotiating committees, where they enjoyed the admissibility and the interest by both parties," stressing that "the committee agreed to put forward strongly by the Council of the next House of Representatives sessions in preparation for reading and approval."
The Commission on oil and parliamentary power, in (the sixth of September 2011), that the draft oil and gas law submitted by the government to the parliament, involves a "constitutional violation" to confiscate the right of the provinces and territories, indicating that it is possible to amend the draft law and enriching to reach a suitable formula to be agreed upon between the political blocs.
The Iraqi government announced, in (28 August 2011), on the ratification of the draft oil and gas law, and decided to submit them to Parliament for approval, while Deputy Prime Minister for Energy Affairs Office, Hussain al-Shahristani, on the second of July, the government introduced "some adjustments" to the draft oil law, which is long overdue and reviewed by the Committee on energy Council of Ministers.
Raise three zeroes from the Iraqi currency’s progress and evaluation
(these articles, about the project to delete the zeros, just keep getting juicier and juicier as we get closer to 2017. Can you see how they are re-educating the citizens, just as the CBI said they would do again once they got closer to the date. Remember I was told this in the fall of 2015 when they postponed the project till early 2017. I have been patiently waiting for them to do this “re-education process. If you have been reading my news letters and following my news you know the TRUTH. So now let’s just sit back and see how this develops yet even more as we get closer to 2017)
Article: Amer al-Abadi
Published on: Thursday, 12:34
It seemed worth the value of the Iraqi dinar (7) grams of gold at the beginning of the release issued by the law in 1931, and in 1959 was issued a new law of the Iraqi national currency
Iraqi monetary and banking system continued to evolve, and reached the value of the Iraqi dinar to (3.3) billion until the beginning of the war with Iran, which led to a significant breakdown in Iraqi currency
In 2004, the former Governing Council to replace the previous currency, which was a symbol of the former regime are currently in circulation a new currency is to deal in the currency of the seven categories: 50, 250, 500 and 1,000 and 10,000 and 25,000 dinars.
Unlike the Arab countries do not exist in Iraq about 25 years since the coins.
It was scheduled to be the project to delete the three zeroes in 2011 and did not perform (so now I don’t want anyone ever to tell anyone that Mnt Goat is crazy in saying they fully intended to RV back in 2011 and postponed it. If you continue reading you will find out why they postponed it)
And then postponed to 2013 .. then postponed to 2015 .. and now the decisions implemented early 2017 plan. (So now we know for sure and must remember too, since these facts tell us that three times already they intended to RV and had to postpone it. Will they postpone it again? How can they? What is different now than in all these other attempts such as in 2011, 2013 and 2015 that tells us they WILL NOT POSTPONE IT AGAIN?
I will tell you what is different –
· Maliki is out of the picture as the prime minister
· New banking laws are in place
· New Investment laws are in place
· New anti-money laundering & counterfeiting laws are in place
· New anti-terrorists laws are in place
· The new revised currency is now printed (not going to use much of the 2003 version sent to Iraq by the USA. Probably burn most of it)
· Needed currency to satisfy the Kurds with new currency images and markings of the Kurdistan region. IN 2011 they told us this would not be ready until 2016, we did not listen well and assumed this did not matter. But it did and so here we are still waiting for the RV.
· Needed better and newer security features on currency
· Needed time to setup e-dinar and mastercard debit (merchants point of sale needed hardware to process cards, what good does a debit do if you can’t use it while shopping?)
· Now IMF moved IRAQ under Article 8, just recently from Article 14 IMF UN charter. This means they need an international, tradable currency. This is itself is HUGE, HUGE, HUGE
· Are now at the final steps to join the WTO, will also need an international currency. Go figure…..lol….
· Imperative that Iraq get out of the “closed economy” from war sanctions and mover to an open “global economy” or else they can not correct their economic problems or attract investors as they desperately need to do and want to do (in other words they have no choice)
· Since 2014, needed more time to fix security issues in Iraq from the ISIS/Daash invasion. I totally and whole heartedly believe that, if it was not for this ISIS security breach in 2014 we would all be sitting at the beach already, exchanged and drinking pina- coladas….lol….
· I can go on and on…..
So you tell me this- Was it was a good idea to postpone the RV a bit longer. The BIG question is now? – Are they now ready and will they go through with it in early 2017, as they have told us three times already they would – in 2011, 2013 and 2015 and did not? Or is there still more to come that we don’t know about. We can only go with the FACTS we know for sure and I am trying to show you the FACTS.
(the article continues)
Note that the process of deleting the zeros have occurred in several countries. Delete the three zeroes from the Zimbabwe dollar in 2006 and Romania omitted four zeros from its currency in 2005. Bolivia deleted three zeros from its currency in 2008. Turkey removed six zeros from its currency in 2005. Sudan delete the zeros from its currency in 2007 Central Bank director Mahdi Keywords, said, “The central bank began the first steps of the project through the selection of designs, companies and the country that will be printed currency.” He pointed out that “the new currency entry does not mean the destruction of ancient coins, but will continue to trade for about ten years,” pointing out that “this period will enable the central bank to withdraw the old currency in accordance with the known dynamic in order to preserve liquidity in the market.” (they are educating the citizens on this process and how the existing 3 zero notes will be handled alongside the newer notes that come out)
Justification for the replacement process
The presence worth 30 trillion dinars cluster of large cash the number of leaves 4 billion paper
Currently the largest category of cash is 25,000 dinars, equivalent to about $ 21 and this requires larger and significant effort to settle the daily transactiontherefore became the amounts in excess for the 20 million are in dollars.
There is no damage large proportion of private small groups and inadmissible currency in circulation and make up almost a third of the money supply. (almost 1/3 of the currency is not unusable and damaged, worn out)
The difficulty of making the calculations under the numbers increase the number of 14 zero in practice, technical and probability of error occurred either by adding a zero or delete it. (easy to make mistakes since there are so many zeros to worry about in calculations of very large transactions. Some calculators don’t even go up that high in decimal places)
The benefits of the replacement process
1.Reduce security risks for those that have to carry large sums of money
2.Drop counting costs and issued biggest categories
3.The lifting of zeros will create a psychological effect among citizens through the strengthening of its currency and adopted more broadly rather than foreign currency
4.Inclusion within the global currency basket (The SDR we have talked about so long) and handle it officially the world’s stock exchanges and financial markets.(WOW! Can it get any better? This is when we exchange out dinar)
5.Possibility of economic agreements to deal in national currency and this will cover a very large part of the foreign remittances that are squandering of national wealth from foreign exchange (they are taking about the draw down of the CBI reserves with the current currency auctions)
6.It will be disposed of manipulating the currency exchange market
7.Action will depend corrupt suspicious of banks and their agents
8.It will be determined by the roof top of the sums transferred abroad from active currency exchange to ensure that no currency smuggling.
9.Aatherngairalamlh of the desire of a high exchange rate of the currency psychological aspect. This rise enters the joy of the return of the dinar to the rich past.
Cons replacement process:
The emergence of the problem of calculation between the old and new numbers in trading in reading and managing their trillion figures. (This may initially occur but eventually they will manage it as the two sets of currencies will coincide for 10 years. But the more of the large 3 notes the CBI gets out of circulation prior to early 2017, the lesser this problem will be. The e-dinar is meant to assist in this isssue)
Need to print large groups
Foreign stock exchange to fall to 20% on foreign investment because the thought that a change in currency will reduce profits.
Write-off of three zeros from the currency may contribute to creating a state of monetary illusion. (the only illusion was giving the Iraq people the very large 3 zero notes in the first place. Now they will bring them back to reality to coincide with the rest of the global markets and be able to trade with them without the hassles and all the corruption)
It will cost the state budget large sums Z such that the sections of financial corruption, besides the lack of addressing the problem of inflation because the Iraqi market importer of all goods and services from abroad, which means the depletion of hard currency. (already spent since it was budgeted for in previous years already. The advantages far out weight this negative)
No official data on the cost of the Iraqi banknotes there. Note that the cost of the banknote in Britain 7 US cents. Enough to know the number of traded securities permission to give an idea of the total cost. (not true. The German company has given them firm pricing on the new currency)
Four billion paper. Thus the cost of becoming a printed $ 289 million. This amount is pointless (oh- but Iraq can let billions more to stolen, corrupt politicians in the past…not valid a problem,,,a drop in the bucket!)
Add to that a further Stamping metal pieces not to mention all the money needed to cope with the consequences of removing zeros as replacing postal and fiscal stamps. (hey- there is a conversion process in place and it will work unless those involved remain negative)
The feeling of poverty: the deletion of zeros leads to the feeling of poverty, it had a ten million dinars Pat does not have only ten thousand of them (simply not true, since the newer notes post RV will have much more buying power, so just the opposite will happen. I do not believe this negativity for one second)
The expectation of rising prices. (expectation? Let’s talk in real time and reality.. When they go shopping and find out they can use their debit card or no longer have to carry wads of cash around in their pocket, yet what they do have can buy more then why in hell would they think the prices are going to rise? So even if they do, with more investments, wealth and a healthier economy their salaries should also rise accordingly. So again, I don’t’ buy into all this negativity. It is just negativity not reality!)
In front of the inevitability of the Kurdish language in the introduction to the first version of the coin after the entry into force of the new constitution must benefit from the experiences of other currencies. For example the euro many folks in Europe, but not in it any language but symbols, numbers, and pictures only exist.
Iraqi words not mine…..No Rumors, No Hype, Just the FACTS!
Much love to ya all,