"Good morning everyone. Since Steve is still in the middle of the ocean, I am making this post today. I know a lot of you were disappointed when September 1 came and went with no RV. I was too. I was able to get in touch with some of my contacts today and have the following information for you.
Shabibi had a press conference and explained to all the people what happened. When the banks went to open the boxes to get the new dinar out and get ready to start exchanging for the old dinar, they discovered a printing error.
The printer used the wrong art work and printed the currency without the kurdish language on the currency. The kurdish government came unglued when this was discovered. It only had english and arabic on it and not the kurdish language too.
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Shabibi tried to convince the kurds to go ahead with this currency anyhow due to the cost of printing it and the cost of all the advertising that had been done already. They refused.
Shabibi is now having a printing company in Germany and one in London reprint all the currency with the kurdish language on it too. All the banks in Iraq that have the misprinted dinar are in the process of destroying it now.
Shabibi is meeting with Maliki, the finance committee of Parliament and Parliament early next week to discuss the RV. He told the media that an announcement will be made on TV September 15, giving the new date of the RV.
He will then be leaving for the big financial conference in London on September 18 & 19. Also, after that meeting, Saleh will be meeting with the IMF in London and giving them the new RV rate.
Also, I was able to get an update on Talabani. He was scheduled to meet with Maliki in Baghdad on September 2. His health got bad and he flew back to Germany and is in the hospital again.
He said he is going to try and come back to Iraq either September 10th or the 11th and meet with Maliki then and set a time for the National Conference. His doctors are warning against it. We will have to wait and see. I don't believe this will affect the RV either way.
I hope this encourages everyone to hold on a little longer. Shabibi is still working on this and it will be done. We will know for sure on September 15. My contacts will be watching for this announcement and will let me know right away. Until then, stay calm and know that God is in control. Blessings, Ray"