Hello Recaps : Old friend TD checking in with some personal thoughts and many from my Kurdish friend (As always I'd encourage every reader to treat ANY post in Dinarland as rumor and take everything with a grain of salt, due your own diligence and based on an array of intel & thoughts presented by many to derive to your own sound conclusions).
You know as a kid growing up I warmly remember when all we had were 3-4 TV networks but we always did seem to find enjoyable, tasteful family entertainment to watch. Nowadays with over 100 channels to choose from many times I find my self clicking and turning without anything worthwhile to watch.
I also remember that TV stations regularly would post editorials expressing the stations views regarding a "in the news" event and in the spirit of fairness they would allow an outside group/organization to provide a contrary opinion. I always enjoyed listening to all sides.
Today more and more many TV and radio networks are too polarized in their views and agendas, hammering home "their" message.
It is with this spirit that I come on today to provide a differing opinion to cast out there on some of the broadcasts we have all heard and read. People can kick the tires and see if it's worth driving or not but as I stated I'm a believer in absorbing all viewpoints.
I want to address some of the points put out by some who are indicating that we are on the threshold of an "imminent" RV. Some have even indicated that it already happened as far back as December 2013 BUT we are awaiting world rollout. There have even been indications that certain provinces in Iraq are showing ALL DIFFERENT rates.
My Kurdish friend indicates he is unaware of any such claims or rumors. He points out a couple very important points to consider which at least IMHO hold water and make sense.
FIRST) He says that any change in monetary policy will be voiced through the CBI, the country's guardian and executioner of such actions and will be in the form of a worldwide article as well as update showing on their website. So far nothing like that has occurred.
SECOND) He states that PARTIAL or INCOMPLETE actions showing privilege to some and not others would set off a worldwide & endless hornets nest of litigation that mankind has never seen in history. In other words, if and when the CBI acts on monetary policy it will be instantaneous worldwide.
There will be no double dipping or illegal transactions for people to pull off.
THIRD) He refutes the rumor that this has "already occurred" but hasn't rolled out. If there was a few people"in the know" then surely in one way or another the remaining notes would have been gobbled up in a hurry. My friend points to Ebay as a great indicator of this. Check out the site and the number of notes for sale there. Surely these "greedy, already rich" people would find a way to swallow those notes up.
In addition to my Kurdish friend I have a couple executive level contacts at Goldman Sachs who also reiterate the points discussed.
I merely point these issues out for digestion. People though in opportunities of sudden wealth creation have tendencies to believe what they hope and want to believe. I think it's very important to keep grounded of the fact that this is indeed a speculative investment and to not lose sight of the risks as well as the possible rewards. At one time I too sank myself very heavily into the investment putting in tens of thousands of dollars into it. Most people know that I reduced my holdings but still hold well over a million dinar.
I believe people should put into it the amount they are comfortable with losing if things don't go as planned. For me I found that point and as adults you all have to find your "tolerance" level as well.
I'll finish by pointing out a few intel pieces I've obtained to pass along. (Remember, treat all as rumor and don't shoot the messenger) :
We do know that the NEW 10K note has been out almost now couple months and is being exchanged throughout Iraq.
This note has new security features and will also be followed by ( also NEW security enhanced features) 5K, 25K and the all new 50K notes. A few weeks back the CBI released a (rehashed article) of this intention BUT just the fact that they already introduced into the marketplace the NEW 10K note is proof that they do mean what they stated THIS TIME . I'm told that the other notes are in production and expected also to be introduced into the marketplace during the last quarter of this year, perhaps in the new year to kick off 2015 as a year of change and promise.
What I do find interesting so far is that NONE of the currency exchange outlets have the NEW 10K notes and there are serious discussions and debates to have in the dinar community regarding that.
THE PTB's in Iraq all adjourned and went home couple days ago and there is nothing on the agenda for them till October 15th.
Priority ONE of the Abadi administration is tackling the all important security situation and all else is on hold. The Peshmerga are holding their own bravely. The Iraqi Army is still trying to find itself. A tipping point of pushing back with these barbaric group called ISIL may indeed be the TURKS who just gave parliamentary approval to wage a military campaign in both Iraq and Syria. The Turks are outraged also at the humanitarian crisis spilling over into their borders and have had enough. All military experts know and have said that without a formidable ground force the coalitions air strikes will not totally defeat these lunatics. The Turks may just be what we need.
Time will tell so many issues. In the meantime give thanks to your well being in comparison to the hardship of hundreds of thousands of refugees being displaced and having their lives torn apart.