Comments on the Baghdad Invest Article : from TD
I was going to wait till Wednesday to post this since I figured that they would come clean by Wednesday afternoon BUT I'm glad they did so earlier.
I was notified Sunday night that the meeting that day (and there was a parliamentary meeting) which not so much focused on the Dinar even though it was mentioned in the session . The primary focus of Sunday's meeting and you are seeing consequent articles this week has to do with stepping up the public & private banking sectors ASAP. They are getting their ducks in order . I knew Monday morning of the rouse being played BUT I knew I'd be crucified immediately if I took away our RV hopes so I thought I'd wait till they came clean.
Listen carefully guys, the Dinar will move before next years elections. So although these guys stated that the dinar will never move, that is not probable . The timing and the rate is the unknown. But I can assure you it will NOT remain at the 1166 rate. The reason we can expect it to move before next years elections is that the politicians will need it for their electability.
Read More Link on Right
The other day when they spoke of the rate of .64 cents and many complained of the low rate I wrote about being thankful for that. I stated that "Greed looms over much of this country" and got blasted by some for my comments. As you saw by Baghdad Investor's mention that "GREED IS THE ROOT OF ALL EVIL" . Many fell right into their rouse and they laughed at you. For the record, I don't know Baghdad Investor and have never had an association. I made my "Greed" comment beforehand and was completely independent of them.
But I implore you as a fellow dinarian to be realistic in this (at best) SPECULATIVE INVESTMENT. Forget about these high, especially $30 + figures. I'm sorry to say people are playing you.
I've been saying since the IMF & Central Bank governor's meeting in Washington that the IMF has told Iraq that they are welcome to go at any time. Since then I've been told over & over again that two camps exist of currency reform : One to go before Jan.1st with an introductory low rate such as example 500-1 . Let me just add this disclaimer here because I'm going to get crucified for saying it's going to be 500-1 . I"M NOT !! I'm just giving a ballpark figure. And that's straight from the horses mouth (In Iraq). Again JUST AN EXAMPLE !! Then there's the other camp favoring strengthening areas of banking, infrastructure, investments, capital, security, tourism, developing other exports of goods & services., building strategic alliances with neighbors, etc. It sounds like a lot and it is BUT not everything has to be fully developed and implemented in order to proceed. Just showing action translates to world confidence. I mentioned in my posts that M's trip was to present determination of action. Iraqi PTB's are scheduled for numerous trip to neighboring countries , Europe & Russian independent states to put much into motion. I also posted recently of Turkey playing a strategic role in areas of importance including help from their central bank with currency reform and already there's been activity between nations and very important programs to implement later this month. Watch for articles.
Iraq is making progress but not at the pace we want but it is what it is.
I'm afraid to tell you but I need to tell you my best intel and that is Iraq is choosing (at the insistence of their smartest & best economist's) to build ASAP and then release. This camp favors release in spring 2014. Again it's a moving target. Remember , no one knows the exact rate or date.
I'm just passing on what's been presented to me. I know many of you will say it's worthless info and care to kill & kill again the messenger and that's fine. You are entitled to your opinion. Being bashed , especially here on Recaps is nothing new to me. You have to ask though , why I'd come back here . Well here's why :
I've come on before trying to persuade you to find options, a plan B if you will. I'm trying again today. I know many of you in despair are at the end of your ropes and I wish you well. I'm also a big believer in the strength of the will. You know the expression , where there's a will, there's a way. I sincerely hope that's possible for you. Reach inward and find that gift which I believe is God given in all humans.
As I just said couple days ago on Dinar G### ( & tried to give you a hint) , strap on your belts tightly because it's still going to be a nervous ride for a while. And it won't be hours or just days.