DELTA: Greetings everyone, I hope everyone is in good spirits and in good health…..I’m going to cover 3 or 4 subjects today…..before we get started I want to say that I apologize if you are asking me questions when you see or think I am there, often times I am not….
I never log off so sometimes I am there but other times no…..but recently you saw me bring an important article to the forum after discussing with Frank that this was the right way to do this…..so I’m going to talk about the CBI report about the arrival of the Swiss equipment to print Iraqi currency…..
Now I did read that in Arabic and specifically they are stating that those pieces of equipment they will be for printing of Iraqi currency….now I know many of you had questions and some of you were confused…..because if we know the LD’s are there….then why would they be receiving these machines…and I am here tonight to answer this question and concern that many of you may have.
First of all I want you to know this report came up on Friday….we all know this equipment would not arrive there on a Friday….we feel it arrived a long time ago….just as Frank has told you that many of the articles are old when we see them….especially those that have to do with the Monetary Policy….currency denominations….information from the CBI….whatever you see that is after the fact….
So we believe that equipment was already at the CBI…..so what is going on here, we all know that Iraq had a currency a long time ago that the citizens liked back when Saddam was in power….but they had to cut currencies….one of them was the Saddam currency….the other was the Swiss notes……
Why the machines from Switzerland….I think I have told you this before that Dr. Shabibi has a dual citizenship with Iraq and Switzerland and we know he has a residence in Switzerland. We all know they have printed the LD’s. I did talk to Frank the day after and gave him this example….we can all remember the days when you have a camera, you load it with film, take your pictures, then remove the film and take it somewhere to be developed, then you pick up your developed photographs but you also have something extra, the negatives in case you want to make more prints later…..those negatives belong to you in case you need more prints….
So these machines they received are very close to this example Family….Iraq has printed it’s money….but now they have to get the plates….and they need those specific machines that were associated with those plates if they have a need to print more….like when the revaluation or the RV takes place….
We do believe they will have a large demand for certain denominations…..so with your concerns….you might be asking…do they really trust Iraq to do this printing…..you have to keep in mind that Iraq is not in charge of the Monetary Policy….they basically had signed like a power of attorney over to the IMF….a contract with the IMF….the IMF from November 2015 all the way to the end of 2016 they are going to be in charge of every single Monetary Reform and policy in Iraq…..
So when Iraq needs to print more money it will be under the guidance of the IMF….you need to be understanding and do your due diligence and homework….I see many asking questions that if you just go back and study and review what Frank and I have explained to you over the last 3-5 years you will find your answers
I want to clear up an important item….someone posted on the forum….how come Iraq is going to take bailouts or loans if they want to revalue….keep in mind Family when Iraq revalues their currency it is not going to help Iraq right away…..it will help them in the long run….and keep in mind the government of Iraq they have no dinars….they live check by check from what they receive from oil….there are really only two entities that have dinar….the CBI of course…and the citizens….the CBI says the citizens have about 70% of the supply….but I do not believe that number….I know they have quite a bit but I do not believe it is 70%....IMO….they may have 30-40%....but still that 30-40% of 30 trillion that is a lot of money.
So when the CBI lifts the 000’s and revalues the currency…what is going to happen…..the people who have invested from outside like us….we stand to make a good deal of money….but what happens to the government of Iraq….do they become rich overnight….of course not….remember they are getting maybe $3-4 billion dollars from the sale of oil right now with current pricing….they need about $7 billion dollars to make ends meet…..
When the CBI lifts the 000’s and revalues the dinar….they will not be giving them away for free….the government of Iraq has to pay for them…and since we all know the government has no dinars and we’ve seen there is no liquidity….all they have are some dollars….I don’t know if you have seen this or not but the last few months they have not paid any salaries because they have no money….there just isn’t enough liquidity there…..I’m bringing this up because a lot of you seem to believe the revalue of the currency will solve Iraq’s problems overnight….but no that will not happen….it will be in the long run…and I’m going to explain how.
When they revalue the currency and they are Article 8 compliant what is going to happen Family…..that is going to make the Iraqi dinar tradable internationally and it will make the investors outside of Iraq look seriously upon Iraq for investing in stocks, properties and many other things….so when they do that….they will go to Iraq and inject a lot of money in Iraq…and this is how the government is going to open up many market economies on an international basis…..
So let’s say as an example the CBI revalues their currency at 1 to 1 or whatever the rate is it will then take the government of Iraq at least six months to see the effect of the revaluation….they will not see this right away….people like us…as investors yes…..for Iraq though this will be the first step to bringing many investors who will dump a lot of money into Iraq….they basically have no way around this sort of recoup of their efforts right away because this is what the IMF has told them.
Now regarding these machines Family….a few months ago one of the Iraqia tv channels did a report where they went into the CBI into one of their many departments that just happens to have the machines that count and sort and detect counterfeiting of currency, they showed this department live on TV….these machines are huge…..it was explained in detail what was going on…..remember about 4 or 5 years there was a tender from the CBI wanting to buy six DeLaRue machines….so this CBI representative was explaining how these machines can do many things….and we noticed from this report there were only 5,000 and 10,000 notes….we did not see any 25,000 notes from that report and this is huge Family….the reporter asked why he did not see any 1,000 or 500 dinar notes….so it was explained that for those lower notes we have other machines but they are not here….he was saying that the 5,000 and 10,000 notes were the more popular notes at that time.
I hadn’t talked of this in the past because the timing wasn’t right, but now with the articles about the equipment coming from Switzerland…..I’m bringing this up because we believe this equipment will be for the LD’s….these machines are brand new….they are huge and there are like 6 or 7 of them….part of the work of these machines is to inspect each note for damage and if any is found it is kicked out….so this is why we believe these machines are not the same as what they already had….but are for the LD’s….this is huge information.
As Frank has explained to you we believe from several very reliable sources that the BIS has given Iraq approval on the 28th of April to move forward with the Monetary Reform.
I don’t know if you remember a year or so ago I did explain to you the process for the nation of Iraq….at that time they had to figure out what they could effectively support with regard to the revaluation of the IQD…they furnished a report to the IMF and the IMF agreed with the report, saying it was reasonable….then they had to send this on to the BIS….that was the final approval….the BIS last month saying we are going to approve it….because of the conditions the IMF has to go back to them to the country in this case Iraq and say here are the conditions you must meet…
But now with the approval of the BIS, they report back to the IMF and the IMF follows up with that nation that says you got the green light to move forward….now IMO…and I could be wrong but I believe from the time of the IMF report they have 30 days to implement their plan…
it is much like buying a house, initially you must prove your income…..but then before you go to closing you must again furnish proof of income before they will sign the papers so you own the house…..if you don’t do this the process starts over from scratch…..Iraq…could be the same way with at least 30 days to apply the plan…..all indications show there is a lot of progress going on here….and you see very good articles about the Monetary Reform is totally separate and totally independent.
Finally I would like to address a few things about Ramadan….I’ve seen posts stating there is never anything that goes on during Ramadan is not a holiday….it is a time of fasting for 30 days where they reduce the working hours….even outside of Ramadan you do not see the same working hours you expect to see here in the West….often times banks are only open from 8 am to 12 pm…..go back and look at 2013….the CBI during Ramadan dates came out with the new designs of some of their currency….let this be an example that if they want and see the need to do things with the Monetary Policy that Ramadan will not have anything to do with it…..if they don’t accomplish much during Ramadan it is not because of Ramadan but because they are lazy….just remember right now the IMF is the one in charge and directing the Monetary Reform and Policy of Iraq.
Remember Family why we are all excited about this month….because the fact that the IMF told the whole world that inside of the first half of 2016….Iraq has to be international…..and this is basically what they are trying to do…..and we do know that one of the reviews will be at the end of May…and we believe that any more homework from Iraq has to be completed before the final review.
One of the things that Iraq was told to do was lifting the restrictions from the exchange regime….but wait how can Iraq do this if they do not have the approval from the BIS….so this wasn’t even in Iraq’s hands, they needed the approval of the BIS on April 28th, to move towards a market economy….what is a market economy….they need 100% of their currency to be international and be in Article 8…..being in a global market…..we showed you an article from the Iraqi Stock Exchange that stated by the end of this year you would be able to buy stocks from your house anywhere in the world….and we all know you can’t do that unless you are Article 8 and have a tradable currency….because if you are in the US and want to be Iraqi stocks you have to be able to convert your USD to IQD and if they are not Article 8 you cannot do that.
Remember Family the Iraqi Stock Exchange was supposed to go live in April….but what happened….they extended because they knew they could not move forward without their currency.
So a lot of exciting things coming up soon Family…..do not get discouraged over the politics….even if the revalue happens right now the politics will continue to be ugly in Iraq it will not be fixed overnight…..Iraq has some of the most diverse culture and religions of all the world and trying to convince them all to get along is going to be very difficult….and this is all why I believe the Monetary Reform has to move forward….for the sake of the people and the nation of Iraq.
The government of Iraq is literally broke, they have no money, and what money they get from oil sales right now is just not enough.
I am done Frank.
Frank: Beautiful DELTA…..remember we said back on the 4th and 5th that we said they were preparing for the 8th, 9th, 10th, and 11th…..remember that….well here is the evidence of it….these guys are following the IMF….they are following the reforms for their currency….and as much as they are not lying to us….they just are not explaining to us.
Now let me add a little bit more to what DELTA brought us Family…..this information I believe is on the CBI website…..they have 75% of the 000’s originally printed back in 2003….75% of these 000’s have already been drawn into the CBI…..so another reason for bringing in these printing machines is because of this action…..we call it the lifting of the 000’s….in the IMF and the economic world it is called velocity….
This is what has been occurring in the last 10 years….bringing back in 75% of the 000’s that were originally printed….these new machines will not only print….but sort and count….and deal with counterfeiting as well….Iraq is an area where counterfeiting is predominant because of the MCP….it is easy to create false currency when there aren’t enough rules and laws to control it…..
Iraq is infested with fleas that are currencies from other countries….this is being done with these machines…they are not lying to us….they just are not explaining every to us because they don’t need to explain the Monetary Policy to anyone except the citizens of Iraq and that IMO is what they are doing right now.
DELTA: you explained that very well Frank, the report is on the CBI website about the 4th and 5th….they talk about the RTG….the RTG is about the clearance on a check as we do here in the US….the Iraqis are working on this….what the CBI report is referring to is that for you to get a check to clear you need to get the work don on the 4th or 5th, because you will not be able to do so between the 8th and the 11th…..so IMO….looks like something could be happening after the 11th….the bank is saying why they are doing this is a holiday….but that holiday was on Tuesday….this past Tuesday….so for the CBI to be telling people about these dates….maybe the auctions will stop….or something else really huge….remember when the value changes…..everything has to change, they have to drop the 000’s from everywhere.
Frank: I agree, based on these three things…the demonstrations, the printing machines that are being explained to the people….the next logical thing would be to stop the auctions…and they have really be going down tremendously so that is encouraging.
Two or three months ago Abadi told us they were going to do this….and another thing my brother…..based on the fact that this is a reinstatement of their currency….we have no idea how many LD’s are going to be needed when they walk into the revaluation…..once they RV….God only knows how fast the currency will grow…..we don’t even know if they have enough of what was printed in 2003....they say they have 75% of what was printed…but they are not telling us what they printed…..
It is possible that another reason for these printing machines is so they can get ready because they may need a lot more than what they printed….now the IMF is going to control everything until the end of 2016….therefore the IMF is guiding Iraq…..with these printing steps the IMF is holding the hand of Iraq….to make sure they print this currency properly….for whatever need it may be….and like I said we are going from an RI to an RV and no one knows how much they printed….they are simply getting ready…..here is another horse being taken to the gate.
I love the fact that the article came out and said……listen…the two series will remain legal and tender until the old ones are naturally worn out….whatever the series is….they are preparing themselves for a need for physical cash.
DELTA: Absolutely Frank….I would like to add and you can say that DELTA said this….when they do this their LD’s will be one of the most popular currencies ever….believe it or not it will have a greater demand than the one we have right now…..even since the printing back in 2003, the 25k and the 10k are some of the most popular currency in the world right now…..back when Dr. Shabibi was still the governor of the CBI he was asked on TV if gold is the best investment for the people….he stated…why gold….the best investment for the people is the Iraqi dinar
Frank: Imagine if this would have happened three, four, five years ago when it was supposed to….a lot of people would have missed out on the opportunity….now that time has gone by from when they were supposed to do it…..I think that the popularity of this subject has really grown.
You say that the dinar is very popular…..if I were Abadi or Dr. Shabibi I would take advantage of that….you want your currency to be popular….here is a currency at a program rate of 1166 and it is the #1 currency in popularity in the world….somebody must know something….because it has now been over a decade that this currency has been groomed….has been treated like the most pretty girl at the prom…and now again….”the two series will remain legal tender alongside with the circulation until the old ones are worn out.”…..that is what they are doing…they want to lift the 000’s….and another thing….”as needed for immediate expenditures.”….in other words to run the country….we are about to print the stuff that we need….because we’ve done all that we are supposed to by the IMF….we are qualified we are going to go into Article 8….we are going to add value….we have every horse lined up at the gate….this is good DELTA.
DELTA: I agree Frank, this is nothing new to you and I and the TEAM who have been in tune with this from day one….they have a contract with the Paris Club and things will coexist as they say.….all these currencies will co-exist until they are phased out….and I would like to state about the articles that spoke of not lifting the 000’s until 2017…that is correct….remember lifting the 000’s is different than phasing out the 000’s…..again they are not going to cancel any notes….they will just phase them out…..so do not worry about such articles….lifting of the 000’s has nothing to do with the exchange rate….the revaluation and exchange rate has to come way before….remember that article spoke of the CBI entering that phase of lifting the 000’s….it is telling you indirectly they are in this phase….and we all know they can’t be in this phase without a revaluation.
Frank: I love how they slip up at times and say things they probably didn’t intend to say…..I think we have made the points that needed to be covered, we can continue to talk but….look…..we screwed up a year and half ago by flooding the markets….trying to collect the 000’s…you guys rebelled…..now we’ve talked to you citizens face to face….you are killing us….we are getting rid of the bad guys…..look stop it please….we will lift the value of our currency….how about 1 to 1….does that sound like a good opinion and if we do that you know darn well you are going to rush into the banks to get the LD’s and give us the 000’s that you’ve hoarded….and then our country is going to explode….our currency is so popular….and what makes a currency strong….add value….yeah…but it also needs to be popular in a sense that it needs to be used by other countries in their reserves….this is what allows it to be stable, grow in value, to have more security and stability….our currency right now is at the level where every currency on this planet wants to be….but it has no value…..that tells me that everyone who has dinars right now has some good information about it’s value.
Continue to be students and continue to study…..and let’s see what these guys do over the 10th, 11th and into the 12th….we will be in contact with you all the time.
DELTA: In closing it should be very interesting the days of this week coming up…..to see if they are going to do something this week or into next week…..
Remember the middle of 2016 is the end of June and they need the money….so all indications are showing that something has to happen….not because of rumors but because they told us so….they do things for their citizens….for their government….they must create a market economy….
Let me remind everyone too that a month ago a columnist in Iraq said that all the citizens they know something has to happen....that they are expecting a revaluation….this columnist was saying he was expecting something within two months…this article was a month to a month and half ago so people are expecting change. Just as when Abadi took office saying that things had to change and people needed to once again be prosperous like it had been before….as Frank has stated we will bring anything we find to you.
Frank: Did you like your conference call…..please take it to God in prayer.
Dismissed with a prayer.