Post from moderator Doc at Dinar Detectives
10-8-13 Doc: It seems like we are on a 3 step forward 2 step back path with Iraq. Several recent articles indicate the deleting the zeros project will not be completed until 2015. This is a recent change from the June 2014 we had seen several months ago. As we have reported in past we believe this is when the rate will be around the 1 to 1 level and Iraq will introduce the new denominations while dedollarizing.
We actually should not be surprised with this with several articles reporting the "important" laws would not not addressed this legislative term. This means we are now looking at the earliest December before laws such as HCl could be put in place. While we are not surprised we are disappointed and frustrated as many of you. However, we fully realize these laws need to be in place for a successful long term strong currency.
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Banking members are reporting there is no staff on call or any movement of large sums of cash. There are no back screens with $25+ rates and absolutely no reference to IQN. Public and private source continue to align around some type of float up to the $1 range over some period of time. Experts are predicting up to 1 year from the start. This continues to make the most economic sense. This is also backed up by articles stating the rate will improve as the economy approves (oil exports). We have always agreed the end goal is higher at $3+ but maintain this is the 3-5 year goal of Iraq as suggested in several reports such as the SIGR. Time will continue to prove what reality...is we report, you decide.