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Monday, June 29, 2015

EXCERPTS OF BGG & OOTW, 29 JUNE

6-29-15 BGG: [Can you explain why the auctions are so important now? why the high sales numbers have significance?] 

A number of ways – a number of times – they have tried to come up with a method to take as much of the 000 notes off the streets PRIOR to a shift in value… Obviously – to make it cheaper in the long run (for the CBI)…each time – only to be thwarted by some political agenda not common to ours (and the people).

[So this is the CBI allowing these high volumes? to try to correct the situation?]


 Recently - we have speculated – these large auctions are doing two things…1) helping to stabilize the current exchange rate…2) extracting the big notes out of circulation using USD to do it (instead of more expensive “post-RV” currency)… and there may be a significant side-benefit (removing some big notes). 

In fact, you can pretty much figure out how much they are taking off the streets by checking the numbers – and project it out a few days/weeks – they can pull TRILLIONS of Dinar out of circulation. That is a BIG MOVE.   I have insisted (for a long time) Iraq had no more than 40 Trillion (EVER) in circulation. They have recently admitted as much… but if they were able to extract 10 Trillion over some short period of time – it could make a big difference – in fact, I doubt they have 25 Trillion surviving and in circulation. 

6-29-15 
OOTW: [IF TARIFFS ROLE OUT AUG 1, DOESN'T IRAQ NEED A RATE BETTER THAN 1166?]


 ALL I CAN SAY IS THAT IN THE "50/100K" ARTICLES QUOTING SALEH, HE SAID THAT THE RESERVES SUPPORT A "DOUBLE" ING OF VALUE OF THE DINAR..THE RESERVES SUPPORT THIS TWICE OVER...AND HE SAID THAT WE WOULD SEE THE VALUE OF THE DINAR "DOUBLE" TO OFF SET THE TARIFFS...WHAT REALLY WILL HAPPEN, I DON'T KNOW. WE DON'T KNOW FOR SURE WHEN SALEH SAYS WE HAVE DOUBLE THE RESERVES TO BACK THE CURRENCY HOW / IF THAT WILL APPLY TO A RATE. 

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