As I have said many times…watch for the project to “delete the zeros” and other signs and our RV is close at hand. Now we are witnessing these signs and so the probability of the RV increases as each day passes.
So today’s news is all TERRIFIC and EXCITING!IRAQ HAS LAUNCHED THE 50K NOTES! HURRAY!This is an excellent sign too that they have in fact launched the project to “delete the zeros” already and the process is now underway once again.
We simply have to wait and watch for news of the amounts of the 10k and 25k notes collected. This could take a week maybe a month. But I am hearing it will sooner than later…Because they already collected nearly 80-90% of the 10k and 25 notes.
Article quote: “CBI had announced earlier issued a new banknote fifty thousand Dinars category in order to complete the Iraqi Securities monetary structure, and the DEVELOPMENT OF HIGH VALUE IN THE TRADING CATEGORY.”
So we see this was the purpose of launching these new 50k notes. The CBI told us themselves. So at some point in time soon I expect they will hit a point they need and then pop out the new rate...this will be sudden and excepted.
This process is NOT a currency FLOAT as many have alluded to will happen. They will simply go from the 1166 rate to a 1:1 rate with the USD. The IMF is now working very closely and monitoring it very closely.
Eventually the CBI will have to tell the banks to begin launching the lower denominations into circulation.
Article quote: “A commission of economy and investment plans for new parliamentary Central Bank intends to implement is to issue less cash currency of category 250 dinars, and a new edition to the category of 500 dinars.“
When these lower denominations are launched you can buy your bottle of champagne and put it on ice since it is not long before we, as outside investors, are at the bank.
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