Here is the LINK to the post TD is referencing
TD Post From Recaps Comment Section
I'm glad KAP weighed in on this article BECAUSE I had a email from my GOI contact about this VERY ARTICLE and he informed me that the key word "TIMID" translates to "SLOW PACED" in terms of their efforts of currency reform.
It really summarizes well what's going on and what their intentions are as the process unfolds. The article also states how already the value /need of the dollar is seeing a decline as Iraqis DO UNDERSTAND that sooner or later their IQD will be once again the operating apparatus as now they are sovereign.
But it is a process : stabilizing the rate, eventually peg equal to the dollar, deletion of the zeros, introduce the lower denoms, have market forces drive up the rate and eventually start to see it settle.
Read More Link On Right
Of course Dinarians want this done with & ready to served on a silver platter yesterday but let's face the reality that it took 10 years to be sovereign and Iraq has been told to do things in a thoughtful, steady , calculated way ( by the world & IMF, etc.)
I did hear Monday from my source that they already put A PLAN out there but it was rejected by the IMF.
So patience is required. And by the way , there is many school of thoughts with the finance committee ,CBI and newly formed economic joint commission all weighing inputs and coming up with plans.
One note to debunk here cause it keeps coming up a lot in comments, posts , etc. and that's the notion that Shabbibi said this, said that, wanted to do this & that. Shabs is GONE ! past history.
I understand thru my contact that he is a consultant working for the IMF now and advises Arab governments in the mideast mostly BUT NOT IRAQ. There's a lot of bad blood between the Maliki administration and Shabs.
Maliki though evidently will retire when his term is up ( no he doesn't want a second term and the PTB won't let him anyway). So Shabs may return to Iraq then but make no mistake Turki is the man and the IMF is OK with that.
KAP , Yesterday's Branch Manager, many others and I do see a float coming (500-1 is only an example, no one know where it will start) and in this way if you sit down with a calculator our best percentages of ROI are under this scenario.
As I also mentioned yesterday another concern is the WINDOW of time they will call in and retire the old notes. In this way they can manipulate our ROI.
Whether you want to accept it or not : Any transformation (I'm told emphatically) to a high rate ( $3-4 ) will be coupled with the removal of the zeros and consequently a 30-40 % ROI. Look, I'm positive I speak for KAP & others when I say we all want a bigger ROI.
Again I must reiterate there are numerous plans I'm told being worked on and our best time table to see acceleration is after Ramadan : late summer, early fall. Can they put another plan on the table to the IMF and we are a GO, yes, but unlikely.
And lastly I must answer those that put KAP, Others and myself in the camp of "Negativity". Truth is WE are investors who certainly want the best returns.
I admire DOC (on another channel) who is cool , calm & collective in his remarks and evaluations. None of us has all perfect answers but to brand us as "THE NEGATIVES" is a bit insulting guys.
We truly hope the best for all of you and your families too , especially those who write in daily about losing their homes, closing businesses, etc. All parties : Iraq, Countries , Companies itching to invest there WTO, IMF, Dinarland all want success and ALL WILL SEE IT (but not today).
As KAP just mentioned here in his closing if you concentrate on the process connected with the IMF articles and Iraq Articles coming out giving us clues rather than hanging on daily BS & lies, ( I call it a spoonful of DAILY DOSE of DECEIT : DDD) you'd be better off.
And BTW, I was told by my source that the GOI is committed to "telling it like it is " with their articles/press releases. I know a lot of you have been told a lot of misinformation will arise (like Kuwait decades ago) but No , they want to be a New Iraq that is respected. Still though as he said "look for clues in articles". They are not just going to say "RV tomorrow".
I know it's so enticing to believe the plane is landing and you want to jump for joy but please let's ask ourselves this (in fairness) how many years now have we been told that ? Stay grounded and be a realist !
To all a very happy Independence day. To our brave men & women through our illustrious history and their families : We can never express enough our gratitude. You are the reason that this is the greatest country of the world. THANKS A ZILLION TIMES OVER ! TD