Very nice Saturday indeed in southern Germany and especially nice since we are about to see our blessing very soon. Let me explain.
I want to tell you the news I am hearing from Iraq today and from the IMF sources. I will try to do it in a manner in which we all can understand and appreciate.
First let me say this IQD currency was supposed to go international on Thursday 8/15.
I have overwhelming proof of it. There were negotiations, compromises and final agreements made to make it so. But where is our revaluation?
Where are the live rates at the banks? We should have had 2 days already of exchanging at the banks. Believe me I am just as disappointed as you. I was standing back seeing if this would really take place or not.
So just as I was ready to start making some calls my phone rang. I will now explain what I was told.
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As we know there is some monkey business going on behind the scenes in the USA as you would have to be a complete idiot not to realize this by now and I know TNT members are not idiots.
This stuff may be to the best interest of the USA but what about the rest of the world? I cannot speak directly of what is happening but will tell you in the long term it will be all good for USA but holding this up longer will only hurt Iraq and other countries even more. To me it seems very selfish.
So let me tell you that the ongoing saga with the prime minister Maliki and his corruption continues. The Shites in parliament put out a statement this week noting that it would not be in the best interests of Iraq to revalue their currency until 2014. They did the same in 2012 and pointed to early 2013. Do you remember?
Well is now August 2013 far beyond early so what happened? They are of course trying to stall again and hope to keep everything status quo until the 2014 elections. Maliki really has high hopes of a third term.
Of course this was not taken lightly by the CBI, which followed this statement with one of their own. Their statement is in so many words and said (I do not quote) - are you nuts? As a nation our economy has already lost billions and stands to lose much more if we do not revalue our currency internationally and do it NOW!
So we can see the pressure is building in Iraq. It appears the IMF is on their side too.
In the IMF there was much noticable disappointment today that the revaluation did happen on Thursday night.
Many very important statesmen and dignataries were at hand thinking this was over and began celebrating yesterday.
Some are even awaiting and anticipating the activation of their accounts that were placed on hold last week when the rates went live for a very short period in the USA.
Its like having candy dangling at your mouth but you can't have it....not yet...Some of these people you don't want to disappoint either.
From what I am hearing this is coming to a pressure point where if this does not revalue and go international this coming week, the IMF may have to step in and force it.
How will they do that? There are two plans- One plan I hear it to work with the USA and get it done, the other, I hear is to take the $3.44 rate and use it as the initial rate and just put it out on a float.
S**** the USA. Sorry for being so blunt but that is the attitude I am hearing. Will this happen? The IMF can do this since legally since it will be at the request of the country of origin. At this point I would be very thankful to get this. I would run to the bank.
I think we are still in a very good position to see this revaluation happen very soon either way.
I believe from what I am hearing they too are tired of the constant delays caused by the USA. Yes it is the USA.
The truth will come out when this is over and I think even now that you may be disappointed for now for the wait but for the good of your country you will enjoy what has been negotiated in the long run.
Peace and Luv to ya all,