Lojak: The new government will be formed much quicker than the articles suggest. Abadi has already been selling his candidates to parliament.
Issues: Thanks Tlar - great information. My understanding is 27 of the 31 cabinet ministers have been selected and we are waiting on just a few more. Next Tuesday should be a very important and revealing meeting.Three things need to happen before the RV –
1. the Budget was broken down into three parts. the first part has been approved and I belive the second part has had its reading (?) now we are waiting on the third part to be approved.
2. The rest of the cabinet has to be put in place.
3. The humanitarian issues in Iran need to be resolved.
They are moving swiftly on all three so we are definitely in a good window. Bank Kai Moon told them that once these issues are addressed they can have their currency back at the new value.
Thanks again for your updates!
Jdinar: Tlar, thank you! quick question - How much of your intel is based on the belief and words of Tuki? In other words, do you have more concrete evedience beside Tuki's statements?....perhaps 50% / 50%? I believe you do, but was just asking... thank you!
Rissas Dad: Issues, I respectfully ask what does an Iranian humanitarian issue have to do with the dinar and why would Ban Ki Moon speak about the currency?
Tlar: jdinar, Its everything that leads me to this number. Banks, experiences and contacts and a little intel. A lot of it came more by dumb luck rather than by design.
When I put out the email describing that many friends of mine are in banking arrangements with some of the big banks, I received a lot of emails that confirmed that many more on and off my email list were also in groups that had given their dinars to major banks awaiting word that they have been bought out.
The overall theme was the same. They were agreeing to sell their dinars in advance to a major bank with the estimated guaranteed buy by the bank between $3.00 and $4.00 per dinar.
I received email from a Vice President of a big company here in Dallas who is also on my email list. He said his best buddy (roommate in college) was with a big wig with one of the big banks regional office here in Dallas. His buddy had told him he was the one who would be signing off on the buy regionally for that bank and its branches in the Dallas Ft. Worth area when they received the green light from the Treasury.
He said the number was over $3.50 per dinar but would not give him the exact rate most likely because he did not have the exact rate. He was just passing news of what his boss had told him.
My contact had told my a month earlier he knew the rate but would not tell me. Shanny our site administrator chimed in on a thread where I discussed this saying that she too was part of a group with dinars placed at a bank.
My contact, finally through my pestering him asking questions, conceded and told me the rate was between $3.25 and $3.65 but he never would give me an exact number even though he still claimed he knew it.
Next an Investment advisor on my list with a partner and 400 clients who had organized the buy with his client group here in Dallas with a big bank, told me that he and his wife are couple friends with another couple, which also happens to be the guy on the other side of the buy at the bank he had organized to sell 1.4 billion dinars with his group which are mainly his clients.
Over drinks his bank buddy had leaked to him that the number they were hearing from the Treasury was between $3.66 and $3.77.
Lastly I again approached my contact and challenged him to see if he really knew the rate. Again he said he did. I said we both know the number starts with a 3 and then I volunteered the next number, 7 and then we both said 1. 371.
I feel good that this is the rate or very close to it. All deals from the banks that I have heard about recently and everyone I know about is saying the offer was $3.00 to $4.00. No matter if I am right to the penny. It's just the number I believe we will see
I know most all these people personally and most I have had drinks with or played golf with a lot of them. (hope that doesn't make me look like an alcoholic to you guys. Recycling whiskey through my kidneys is what most retired or semi retired guys do as a scientific experiment you know)
I honestly am more just trying to make everyone aware that this is bigger than it seems in light of what I have been told and in light of my experiences. If I miss it by a few pennies then so be it. If I miss it by alot, nobody will remember anyway. I don't think anyone will quibble over a 10 cent error if I was wrong. tlar
Luckylady: Thank you tlar. Your posts always leave me encouraged. I hope you are right about the timing. For some reason, I am having a hard time wrapping my mind around Iraq doing it so quickly after the new govt. is in place. I guess my problem is I've been in this too many years and I am not yet use to Iraq doing anything quickly. I do pray it happens as fast as you believe it will.
Jdinar: Tlar, thank you very much for the detailed and encouraging information. That was more than I was expecting and figured this late in the game is why you spilled more of the players involved.
In the overall scheme of things the banks and UST have done a brilliant job of keeping everyone second quessing this. I'm glad you were able to sift through the wheat to find the good kernels.
My best to you and your family and for also sticking your kneck out there regarless of the outcome.
Livefree: Hi Gang! Been gone a long time but I've been paying attention to all our great posters with enthusiasm as of late. Got to admit my hopes are extremely high at this time as I prepare mentally for what is to come...
With all the talk of partying and BBQ's etc I thought now was a good time to bring out the song that I've had stashed away for when we get our RV. I told my kids that once the RV happens this is the song I will play for them so they'll know it's finally happened. Great beat and words... hope you enjoy and maybe play at your BBQ with the volume cranked up! If this doesn't get your toes tapping nothing will! http://www.youtube.com/watch?v=CdvITn5cAVc&feature=player_embedded
A word of thanks to all those who've been so encouraging and willing to spill the beans on what they know to help us all hang in there during this extremely tiresome ride. God Bless! Time to practice your dancing :D
Gsjr: Are there any BANKS still selling Dinars ?
LWR: Tlar I have not been able to find any stories about the cbi wireing $325 million to maliki,can you post a link, or is this unsustantiated
Moonman 1963: Central Bank: the smuggling huge amounts of money outside Iraq, al-Maliki ordered
Agency eighth day August 12, 2014 BAGHDAD - ((eighth day))
A source in the Iraqi Central Bank for the traders belonging to Prime Minister outgoing Nuri al-Maliki of smuggling huge amounts of money outside Iraq.
The source told ((eighth day)) on Tuesday, al-Maliki said traders began to transfer large sums of money and smuggled out of Iraq under the direct command of al-Maliki.
The source said the Iraqi Central Bank sold at auction on Monday of more than 285 million dollars, a figure fantastically compared to the movements daily.
The source stressed that the sale of these big money, but it comes as directed directly by al-Maliki to dealers close to him after exclude him from the prime minister and the prospect of moving to live outside Iraq in light of the news talking about the demands chased prosecuted. T / A N / 8
JTdinar: Tlar, thanks so much. I have to admit though the $3.71 rate makes me giddy but nervous at the same time. If all remember, this was the rate Frank was touting due to the Bonds that were recently released a couple months ago I believe.
This is also the exact rate Mr. Nesara himself Dave Schmidt has stated crediting his UST contacts.
Now, don't get me wrong, I am by no means comparing or grouping you with these fruit loops. Just explaining why it makes me nervous.
You have as you always do, backed your claim with sufficient evidence. Albeit, circumstantial for us, as it must be in this case. I'm curious also, any knowledge or what is your opinion on how this will get financed? The IQD that is.
I understand fractional reserve banking and this is how I always believed it would be "paid for" by the banks. Do you agree? Schmidt says the Dragon family is paying for it, which is almost laughable because this whole plan was created by the Banksters with help from the good ol boys on Capitol Hill.
Anyway, I digress, would just like to hear your thoughts with all your banking contacts. Lastly I would be ecstatic if you missed by .10 cents, hell even a 1.00 off and I'll still be running down my street naked with my hair on fire!!!!!! Thank you sir for all your due diligence........ Jtdinar still here...still waiting
Dinar-ling: Please forgive me for what may be perceived as a rediiculous question at this point in time. Although I am extremely encouraged by all the recent events and over joyed with the prospect of finally cashing in, I'm still very confused and a little embarrassed to ask but how will it be possible to have enough funds to cash every investor out? Could someone please explain? Thank you so much!
BlueyesinLevis: Our IQD is part of the plan. -Our IQD will NEVER go back to the CBI.
-The CBI will only have to account for the in country IQD.
-Our IQD will be purchased and held by International Central Banks.. like the UST.. where it will be held as Foreign Reserve Currency.
-Same as the CBI now holds USD as Foreign Reserve Currency....
Countries around the globe will do the same wth IQD.
-many of us think the USD is about to take a dive.... as a result of US Economic policy... and the BRICS nations planing to dump the Petro Dollar as a Reserve Currency. -That is the short version.
BlueyesinLevis: This is a bit dated.. but it the general idea....dont slam me for any innacuracies.. just trying to get the general idea across.... this was written by a poster named Dinar Doggie some time ago.
-For a moment place a new thought into your minds, a new understanding of RV, of cashin, and of the story of the Dinar. I would like to ask you to think of the Dinar that we hold as speculative investors as having a completely different destiny and purpose than the Dinar held within Iraq.
The tale of these two separate and distinct currencies (according to this view) is vastly different.
Within Iraq the 2003 issue of Dinar - the ones that we hold - were never meant to be permanent. They were printed and issued under a program managed by outside forces.
The initial purpose of the 2003 issue was to eliminate Saddam Hussein's smiling face from the nation and to create a transitional currency that would one day have some specific purposes.
We'll get to those later. Iraq was infused with billions of Federal Reserve Notes which became the currency of trade during the turbulent period from the fall of Saddam Hussein until more stability has been steadily achieved recently.
This is the part of a grand plan the first part of which we generally refer to as, "Phase One".
During Phase One, as above, the USD was and is still being used as the domestic currency of trade. Remember, we are not talking about our Dinars which we hold here or that are held by the United States Treasury.
And also remember that nothing in this transitional process is static, nothing is linear, it is not a clearly demarked black and white situation. Things phase in and out continuously. Get adjusted to it because it will be that way for several years!
During Phase One the 2003 issue was purposely kept down in value by outside forces and three zeroes were placed to the right of the decimal point to make the actual cash value nearly nothing. Many people are confused about the purpose of the three zeros.
It's quite simple. This is called, "The Artificial Program Rate" and was imposed on the people and on the currency with the thought in mind that it would someday be lifted, i.e., that the three zeroes would be removed.
In decimal notation the fourth decimal place to the right means 1/10,000th part of one. Removal of the three zeroes therefore INCREASES the value of the Dinar by 10,000 times.
Again, keep in mind that this is for internal purposes only! It has nothing to do with our Dinar held outside of Iraq! I know it sounds crazy but it's the truth and we'll see why in a few moments so don't start an argument with me in your head! We only watch for this removal of zeros so that we can determine when one phase has ended and another has begun.
So, the important things about Phase One are these: the value of the Dinar has been held down artificially by imposing three zeroes to the right of the decimal point. Second, the USD has been the primary currency of trade within Iraq.
And third, it was always planned that the three zeros would be lifted at the appropriate time and that would mark the beginning of, yes, Phase Two of a much bigger plan to re-value the currency WITHIN Iraq. We are now right at the beginning of Phase Two! Let's stop here about the domestic value of the Dinar. We'll come back to it later.
One thing that must be pointed out is that this is not a hit and miss situation. No. There is a very definite plan of action in place. And it is called a lot of things, usually the wrong things.
But it is made of of THREE phases. They were formulated a long time ago and they are being implemented in a very organized way except for the inevitable difficulties that pertain to the middle east.
Our 2003 issue is obviously not in Iraq and is not subject to these phases in the same way. Not at all!
The purpose and destiny of our Dinars is to be purchased by our bankers, to be passed along through the appropriate channels and increased in value by buyers and sellers, finally making their way to the United States Treasury.
Those familiar with the creation of money by means of Tranches in the international banking realm will recognize this process. As the Dinars we sell locally at our banks move their way up the investment chain they will go up in value incrementally until they finally reach the time when they are purchase by the treasury at a discount over and above the agreed upon price of future oil.
In essence, we are trading up discounted paper. In this way everybody along the way makes a profit and the banking system is re-infused with cash. This is in effect a domestic roll program, rolling the paper bills up through the system and thereby creating asset value at every step of the way.
The treasury will then hold the value of the notes that have been vastly increased. As has been very often mentioned, these new units of value (they are no longer paper notes) will be held as future credits against the purchase of resources, primarily oil, at very reduced and stable prices.
This is a spoil of war that goes to the victors! And in this way it is clear that the value that we receive for our Dinars has very little to do with the domestic saga of the Dinar within Iraq. They serve two very, very different and distinct purposes and the destiny of these two essentially separate currencies is not the same!
So, let's just think for a moment. Do our Dinar get used in the domestic economy within Iraq? No. Of course not. Are they subject to Phase One and The Artificial Program Rate? No, not really.
But their transitional value does run commensurately with the domestic currency during Phase One and at the outset of Phase Two. And will our privately held Dinar go directly to the Central Bank of Iraq? Most of them will not but some will.
Again, the destiny of our 2003 issue is for them to roll themselves upward in value as they travel through OUR domestic banking system, thus comprising our own internal tranches or rolls, thereby re-infusing the coffers of our institutions, and then ending up mostly in the UST as credits against future delivery of resources, mostly oil, at low prices.
And that's why our institutions will be willing to pay more for our Dinars outside of Iraq! Yes, they are being sold up a financial feeding chain to the UST. Every bank and investor knows that the value of these Dinar is measured for our purposes against the future value of oil!
At this point I could launch into a general explanation of Phase Two and the progression to Phase Three but I know that there will be countless people reading this that are going to be coming un-glued and who will want to argue with nearly every jot and tittle.
I would suggest that you all just slow down and realize the difference between the currency within Iraq and the currency held by us outside of Iraq. This was not intended to be a perfect, detailed, technical explanation of every intricacy of this plan.
The intent here was to take the confusion out of so many discussions by explaining the massive differences between externally held Dinar and those which are now being released into domestic use within Iraq.
BlueyesinLevis: Here is another explanation.. again.... I am simply sharing some stuff that has been around for some time.
Don't shoot me for innacuracies or whatever. For arguments sake... this guy is talking about the IQD being revalued at around a buck.
-Retired State Dept economist:
In our 40+ year career as a Retirement Consultant we have been blessed to meet some very talented professionals. One of them is a retired State Dept. economist who introduced us to the IQD investment in 2005. He had worked on the original plan to install a new monetary system for Iraq after the 2003 invasion.
He had originally indicated that the plan was for the IQD to achieve financial parity with the USD over a 7-10 year period from the introduction of the new system.
At that time the USDs use would be completely discontinued and it would be replaced by the IQD for in-country use and international exchange. The variable factor in the timetable would be the political environment.
I visited with him recently and got an update on several issues:
1. He indicated the original time table was proceeding on a fast track due to the financial management skills exhibited by the CBI and the Finance Ministry in
a. controlling the rate of inflation,
b. controlling the value of the IQD in a declining economic environment and
c. implementing a digital banking system both internally and externally, but the variable was still the political environment.
Like most economist he doesnt talk in absolutes (i.e. rate/date) but in probabilities. His knowledge base is pretty current since he is still part of a subsection of the original group that Iraq, State Department and IMF financial people bounce things off of.
2. We raised the issue of the large number of IQD reported as being in circulation (current estimates are at 25 Trillion). He indicated this was mostly made up of (1) in country physical currency, (2) the foreign currency reserves of the central banks around the world which are electronic, (3) currency that had been printed but not released (i.e. small denomination bills) and (4) privately held physical currency sold to increase the foreign currency reserves.
The export oil revenues are still under the control of the UN supervised DFI, and Iraq only gets roughly 30% of the fair market value of the oil they are selling, which is to be used only for budgetary expenditures.
Since Shabbi, the head of the CBI, knew he couldnt get anymore cash flow out of the controlled revenue system the IMF/UN had him under, he opened a currency sales window at the daily auctions to tap into the wallets of the worlds speculators. Worked pretty good, since hes built his foreign currency reserves to over $50 billion USD.
3. We then moved to the removal of big bills (the ones with the 3 zeros on them) and he said that this activity was always built into the plan. The activity was to begin as soon as Iraq had implemented a modern digital financial system (i.e. bank branches, credit/debit cards, ATMs, direct wire transfers etc.).
The removal of the large bills in-country would be the reverse of the process that was used to remove the pre-2003 currency with Saddams picture on it. The example was a 25,000 IQD=$25USD/pre-rv note would be brought into the bank and exchanged for a 25 IQD note=$25 USD post/rv.
The 25,000 IQD note would then be destroyed removing it from the currency in circulation account. I told him a lot of people would call that a LOP and he laughed, saying they are partially right, because 25,000 IQD was being lopped from the currency in circulation account, but the only reason for this process was to improve money handling ability at all organization levels, and reduce the actual physical currency in use in all areas of the Iraq economy.
Interestingly enough, he said this activity could happen in-country without an approved RV rate being released to the International financial system.
I asked how much physical IQD did he estimated was in circulation in-country, and he said probably less than had been originally introduced in 2003 which was about $4.5 billion USD worth at an exchange rate of 2000 IQD = $1 USD, because there has been a continuous process of not replacing the larger bills as they wore out. In fact this has resulted in currency shortages in some areas.
4. The next obvious question was how would the removal of the large bills with the three zeros work outside of Iraq, because of the number of world speculators holding IQD.
He indicated, the amount of IQD held by speculators was relatively minor (less than 10%) compared to the IQD held as foreign currency reserve by the central banks of a number of major countries (US, China, England & France were the largest) with major financial interest in Iraq.
He didnt have an exact estimate of speculator holdings but ventured an educated guess of 750,000 individuals worldwide with the majority in the US. Estimated value of their holdings $1.5 Trillion – $1.7 trillion IQD.
Maybe this will help, Pt 2
5. Before discussing the planned process of how currency exchange would take plan after the IQD was released as an international tradable currency, he asked if I remembered my economics 101 and what the real purpose of currency is?
Yes teacher I replied, its a medium of exchange that facilitates the orderly distribution of goods and services among individuals, companies, countrys etc. The often used example, is the use of currency allows an automobile dealer to exchange a new mustang GT (composed of many diverse parts each with its own individual market value) for the cash down payment + bank financing check of a proud new owner, and each has received equal market value at the moment of exchange.
This is an important concept because the value of a particular currency may be defined by the value of what the currency can be exchanged for, instead of the usual underlying economic indicators.
The complete discussion was rather lengthy so heres the executive summary of how the exchange should work with IQD owned by a US speculator:
1. IQD is released internationally with an exchange rate of $1 USD = 1 IQD
2. IQD is exchanged by Mr. & Mrs. X at Bank Y. Their exchange value is credited to their designated financial account, Bank Y forwards the IQD currency to the Federal Reserve and Bank Ys account is credited at the bank private exchange rate. Yes, the banks will have a private rate and then they will add their profit spread to come up with their public rate.
By law this bank spread could be as high as 8%, but it will be a competitive marketplace and the banks know investors will shop around. There is a possibility that there might even be a three rate structure (i.e. Treasury Rate – Bank Private Rate – Bank Public Rate) imposed, but he had no input on that subject.
3. The Federal Reserve adds the value of the exchanged IQD to their foreign currency reserve accounts and destroys the actual physical currency under agreement with the CBI, which serves to reduce the total IQD physical currency in circulation.
This build up of the foreign currency reserve accounts serves to strengthen the USD in the marketplace, because heretofore the US has never held significant foreign currency reserves, because there wasnt any country whose currency was perceived as being equal to or stronger than the USD.
The IQD with its commodity (oil+others) base, potential for agriculture growth and aggressive private development growth, has the capability to become the most valuable currency in the world in the 10 years after its revaluation and approval as an internationally recognized currency. Other countries have lots of oil, but they cant feed themselves, they operate under a monarchy or religious tribunal and they have no private development system in place.
4. Mr. & Mrs. X tithe to their church, local charity etc. which stimulates activity in that sector. They pay off their debts, making currency available for re-lending by their creditors. They buy a new house and car which stimulates their local economy and set up a conservative investment portfolio which adds capital to the investment markets. They also pay their estimated taxes which increases the cash flow to the US Treasury.