The latest mnt goat news letter 11/17. Part 1 of 2
Please post in Dinar Recaps Thanks GeorgeH
UU6835 –“Its Tuesday and all is moving forward very quickly “ by Mnt Goat
Just thought it was a good idea to pass on to everyone what I am learning since this process is moving forward so quickly now. Anything could literally happen any day now but they officially told us this would not happen until early December. We are only about 2 weeks from early December.
So in Monday’s news letter, dated 11/16, I presented to you “the plan” as to how Iraq intends to do now that will ultimately trigger RV. I will not outline the entire process again today but I need to add more information today to assist you.
Just remember the initial increase in rate is much lower than the RV rate later and it IS NOT THE REVALUATION OR A REINISTATEMENT.
I said that the mechanism for ultimately doing the RV later lays on the launching of the 50k notes very soon. This will trigger off the entire process. This is why I have been emphasizing and watching the timing of this event so closely in our list of events for currency reform to watch.
I also said we might not even be aware when they do this and it might pass right over us. This is going to be tricky to monitor.
I also mentioned that when they do this it will be very sudden and not a gradual rise in the value of the 3 zero notes (as some say it will be a gradual float and this is not true.). Some intel “gurus” have told you with absolutely no proof or FACTS to back up what they say.
In fact there are some that say it may even take years for the value rise on this float to the level we expect ($4.00+). Really? Do you really believe this nonsense? If this was true there would be no RV nor any need for all the plans that we are now hearing.
So these kind of statements are ridiculous, just rumors, guessing and it is very apparent these same people simply do not know the process at all.
Then they say in their same conversation – oh but it may then take only 6 months to rise in value once on a float. Really? Give me a break! So which is it months or years? Again shows they have no clue what is going on and about to happen.
So Iraq will simply one day suddenly pop out 90 cents to maybe just over $1.00 rate to the value to replace the 11660 rate. It will be sudden and we will all be very surprised.
They will then launch the lower denominations which will equal the same value as the new rate for the 3 zero notes (since the new rate must apply to all dinars since the dinars are the currency) and will coincide until they “sucker” in the majority of the remainder of these 3 zero notes.
Remember I said equal to the SAME value and they will COINCIDE with the 3 zero notes for a certain period of time. When have we heard this before?
As I explain all this in my last news letter, many have asked me - Why would Iraqi citizens just use the US dollar to exchange for the new lower denominations since almost 80-90% of the currency is US dollars anyhow instead of using the 3 zero notes?
So now I am telling you they will use US dollars too but the 3 zero notes will have more value (remember the new rate has to be over the value of the US dollar) and they will want to exchange them first for the lower denominations. So wouldn’t you want to get more for your money?
But if you only have US dollars, sure the banks will gladly also accept them but they will not exchange for as many of the new lower denomination dinars.
The people are not stupid too and they know the RV is just around the corner and so they will want to get as much of this new lower denoms currency as possible in anticipation of a future rise at least equal to pre-war levels (at least this is what they think).
So after a time period once the CBI launches all these projects, most of the 3 zero notes will be out of circulation and all that they will be left is US dollars and so the de-dollarization process begins.
The IMF needs the ratio of US dollars to be at or below a certain specified level. It is the job of the CBI to get the currency to that level. Iraq fully intends to use only the lower denominations (and the 50k and 100k) notes as their currency going forward in the future. These notes and the coins is all that will remain as legal tender in Iraq.
At some point in time INSIDE Iraq, did I say only INSIDE Iraq, these 3 zero notes will become ILLEGAL tender and so the people will be forced to use the lower denoms even if they still had the 3 zero notes stashed under their mattresses. Too bad if you missed the deadline! We wait for them to tell us this deadline.
Also by then the RV would have long occurred and the value will significantly rise. So the purchasing power of the lower denoms would have increased way beyond the 3 zero notes. Everyone is happy…right? Wrong!
The terrorist will not be very happy since they are known to have large stashes of the 3 zero notes. How do they exchange these notes if they are now illegal tender in the Middle East?
They will try to cross boarders or fly to other developed countries and try exchange. By this time the value will be so high that just a 25k note will equal about $100,000 US dollars, which is way beyond the allowed international transport of any currency value through customs without special declaration.
Remember all the stories in the past about the airports being placed on high alert looking specifically for the Iraq dinar 3 zero notes? This is why and the customs officials and the TFA in USA have been trained to find these notes. Even your checked baggage will be checked.
So my point is once the IQD value changes to any significant value DO NOT even think about flying international or on a domestic flights with your currency.
If found, it may mean jail time and/or a hefty penalty or maybe even complete confiscation of your currency. YOU HAVE BEEN WARNED ! DON’T BE STUPID!
Incidentally in today’s GOLDEN NUGGET they are telling us the time period we will have to exchange our currency at the banks. Read on and I will review this with you.
Today is Tuesday November 17th. What? – Still No RV……lol….lol….
Seems everyone was fooled once again with all this misinformation about an immanent RV over this past weekend. Now it’s time to get serious about what is going on from this day forward. The process is moving ahead very quickly.
So let us get down to some real business today since this is very important the time is now that you should know this information.
So I am presenting this news from Iraq today from a resent article, the first GOLDEN NUGGET of the day.
I quote from the article – “issuance of 50 thousand dinars category paves the way for the deletion of zeros from the currency, and among it will reduce the demand for the dollar”
So now they tell us how long we will have to exchange out our 3 zero notes. I quote from the article – “He explained Yasiri, that "issuance of 50 thousand dinars category, and our thinking by issuing 100 thousand dinars category is one of the preliminary steps for the project to delete the zeros", adding that "the project to delete the zeros needs to be action extends for more than a year."
Yes – that is beyond 1 year as their current proposal. They are still deciding how long and so I suspect they will tell us soon. Pay attention.
Why such a short period and why all the debate? It is about the terrorism and they do not want to have these 3 zero notes linger in circulation outside of Iraq for very long. It is plain and simple reason.
So does this fits in with what I just told you? Can you see what they are doing? Their words not mine.
NO Hype, NO Rumors, just the FACTS.
CENTRAL BANK: THE ISSUANCE OF 50 THOUSAND CLASS PAVES THE WAY FOR THE DELETION OF ZEROS AND REDUCE DEMAND FOR THE DOLLAR
Asumaria News / Baghdad
The Central Bank of Iraq, Sunday, that the issuance of 50 thousand dinars category paves the way for the deletion of zeros from the currency, and among it will reduce the demand for the dollar, he pointed out that there is no link to the financial crisis with the new version.
A member of the Board of Directors of the Bank Ihsan al-Yasiri in an interview with the program "a quarter of an hour," which aired Alsumaria TV, "The issuance of 50 thousand dinars category and think about the issuance of 100 thousand dinars category is a project that is not fortuitous,
but put up since 2007," attributing the release as " there is a problem in banknotes sequence as the highest category of cash (25 thousand dinars) equal to $ 22 and are therefore inadequate for transactions. "
The Yasiri, that "the issuance of the new currency will facilitate a lot of transactions, and will contribute to reducing the demand for the dollar, at least in transactions," stressing that "no income for the government to issue category, not to project any connection with the financial crisis or deflation and inflation."
He explained Yasiri, that "issuance of 50 thousand dinars category, and our thinking by issuing 100 thousand dinars category is one of the preliminary steps for the project to delete the zeros", adding that "the project to delete the zeros needs to be action extends for more than a year."
On the other hand, stressed Yasiri, "not to the federal government's ability to withdraw funds from the reserve which is the cornerstone of the bank", pointing at the same time to "the existence of alternative solutions to the financial crisis experienced by the country."
The central bank announced (November 11, 2015) for issuing a new banknote category of 50 thousand dinars, attributing this to the completion of the Iraqi Securities monetary structure and the development of high value in the trading category
Comments may be made at the end of Part 2 Thank You