Today I bring you many articles which are very long but chock full of GOLDEN NUGGETS. This is all the news we expected to hear at this time and it points us to a new RV target. Finally they are telling us so much.
As I have said in the past I only bring you news when it is important and so today is no exception. If you want to really, really learn what is happening to the RV then relax and get ready for another long read. There is no other way I can explain all the good news to. You will have to sit back and read it for yourselves. I highly recommend printing each and every news letter and then put them in a binder. Refer back to them from time to time. Use a highlighter or underline important FACTS that I may call on you to reference later. NO hype, No rumors, just the FACTS.
I know this must seem weird as the CBI keeps moving the target on us. Some call this “moving the cheese”. So with this cheese or no cheese nonsense we see the RV being pushed out for reasons and we must understand that these reasons are VERY important for national security and for the over benefit of Iraq.
Could the target move again? It could, but for now this is what we have to go on and so let us focus on the new goals and where the CBI is pointing us. There is nothing else we know. This is not a conspiracy to hold up or hide the truth from us.
If you are smart you will ignore all this recent foolishness about anyone exchanging in Canada or that the RV has already occurred and “we are just waiting for our turn to exchange”. Really? This nonsense is the BIGGEST bunch of foolishness I have ever known.
Believe me I have called my contact in the CBI and the RV has NOT yet occurred (not last April 2015 or the Oct 2013) and I was told the CBI would guide the people through the entire process and there would be NO SHORTCUTS or misunderstandings. They seem to be doing just that as they have promised.
What could be better then this?
I surely hope after reading today’s news letter that all you Mnt Goat bashers will take your Billy Goat jokes, snide remarks and sick humor and do with it what you normally do with toilet paper. For in the long run we will see who is really on your side to bring accurate and precise news to you. I might add there is NO cost, NO membership fees or NO donations for all this information is totally FREE ….lol…lol…
Today is Monday December 14th and yes we are now in the second week of December already and still no RV.
Many events seem to converge on the month of December and now January , and in particular mid December close at hand, so let’s pay close attention to what is happening these next couple months. I believe in retrospect we will say this was a very significant time.
In my news letter I also told you that it has been suggested to me to refocus my attention (thus you should also) to mainly the currency reform efforts by the CBI and what is now happening there. So can we do that?
Update: Currency Reform
I want to keep all of us focused on currency reform. Right now this is exactly what we should be watching in expectation of the launching of the lower denominations. Many sources have told me the plan of the CBI is to launch the lower denominations sometime around early February 2016. Will it occur? We can only wait and watch. So now I bring you yet more recent news on this topic.
Can I scream it any louder, again and again watch for ….CURRENCY REFORM…..CURRENCY REFORM !
Pay attention – CURRENCY REFORM !
In my last news letters dated 12/7 and 12/9, I presented to you articles about corruption and issues with the CBI. These issues were raised by a member of the Finance Committee in Parliament, Majida al-Tamimi. Today I bring you yet more of the same from Tamami. Is this important? You bet it is!
But today’s article from Tamami is yet even more informative. It is a GOLDEN NUGGET for us once again.
Let us look at it.
So she tells us the old rate of $3.30 is no longer used for any currency although it has not been officially cancelled. I think she means the old currency was downgraded due to the war and not down graded due to not being of value worth $3.30. This confirms what we already know that they fully intend to raise the value back to at least the $3.30 rate. Some say it’s $3.22 but it’s neither there nor here – who cares? You get the point.
So just as I have been told their target is to increase the demand for the Iraqi dinar over the US dollar by increasing the value of the dinar. This is the intial 1:1 par value I have mentioned many times.
This is not yet the RV…..remember this because it is important. The RV comes later and will be much more than this initial inflation busting adjustment. It will be $3.30+ and I am told around $4.20ish. Arguing over whether or not the rate is going to be 80 cents, a $1.00, $1.14 etc is also a mute point because everyone it correct. The only difference is those saying it will come out much lower do not understand the process and claim their low rate prediction is the RV and I am telling you it will come out initially at the low rate but this is NOT the RV. The intial rate of a 1:1 is NOT the RV and this is the confusion that many fall into thus we are all correct but in our own way.
Can the news get any better?
I quote from the article below –“ The Iraqi dinar’s exchange rate was equal to $3.3 before the outbreak of the Iran-Iraq War. Then $1 became equivalent to 3,000 dinars during the economic blockade from 1990 to 2003. Anyone who has followed the dinar will realize that the problem lies in the difference between the dollar’s supply and demand and the dinar’s supply and demand. It is a simple equation that controls not only the currency prices, but also the prices of all kinds of goods and services. So, for the state to control one side of the equation, it has to control the other side to ensure that the exchange rate will be stable”.
WILL DINAR EXCHANGE RATE IMPACT IRAQI FINANCIAL CRISIS?
In light of the suffocating financial crisis plaguing the Iraqi economy following the sharp decline in oil prices, experts and concerned parties are discussing the most appropriate option to fix the exchange rate. In light of the decreasing oil prices that led to an economic crisis in Iraq, the Iraqi government has been discussing options to reduce the dinar-dollar exchange rate.
Author Zakaa Mokhles al-KhalidiPosted December 11, 2015
The Iraqi Parliament had discussed the possibility of reducing the dinar-dollar exchange rate by 10% to reach 1,300 dinars per dollar to supply the general budget with 5 trillion dinars ($4.2 billion), or by 20% to reach 1,400 dinars per dollar to supply it with 9 trillion dinars (about $8 billion).
There is no doubt that a reduction of the dinar exchange rate would provide additional resources for the general budget. It will increase the quantity of Iraqi dinars obtained by the Ministry of Finance in return for converting into the dinar its oil revenues or foreign loans it received through the Central Bank of Iraq in dollars. However, this method increases government resources at the expense of citizens. The losing parties are ordinary citizens, especially those with limited incomes. The purchasing power of their income will drop, especially with the rise in prices of imported goods. The creditors in local currency will also be affected, including those holding Iraqi treasury bonds.
Moreover, Iraq’s almost total reliance on oil revenues, its poor resources such as goods and services other than oil, the existence of financial investments abroad and large foreign reserves and the high cost of external borrowing all indicate a lack of available options to address the current shortage of government foreign-exchange resources. This means that the only solutions are cutting spending, trying to increase some types of direct taxes and fees and issuing treasury bonds in the local market.
The Iraqi dinar’s exchange rate was equal to $3.3 before the outbreak of the Iran-Iraq War. Then $1 became equivalent to 3,000 dinars during the economic blockade from 1990 to 2003. Anyone who has followed the dinar will realize that the problem lies in the difference between the dollar’s supply and demand and the dinar’s supply and demand. It is a simple equation that controls not only the currency prices, but also the prices of all kinds of goods and services. So, for the state to control one side of the equation, it has to control the other side to ensure that the exchange rate will be stable.
When Iraq’s oil resources were limited before OPEC first raised prices in 1973, the country relied on the currency law, a remnant of the gold standard. This law necessitated that 70% of exported currency be backed with gold and foreign currencies to control the dinar supply through government spending. After the Iran-Iraq War, the currency law was abolished, disturbing the balance between the supply and demand of foreign currency with increased military and civilian government spending.
The government allowed the private sector to directly import goods from producers and sell them at prices that were not subject to its control. Thus, there were two exchange rates: an official rate that maintained the $3.3 price and was used for official expenses, and a parallel rate determined by the supply and demand of foreign currency. The difference between the two rates widened in the wake of the economic embargo on Iraq in 1990. As a result, the parallel exchange rate rose to 3,000 dinars at points.
After the occupation and after the export of Iraqi oil was allowed again and deposits were unfrozen, Iraq was expected to undergo monetary reform, whereby surplus banknotes would be withdrawn from circulation. However, it used the daily currency auction, in which specific amounts of dollars are sold to the banks and the private sector to meet the domestic demand for foreign currency, especially for the purposes of importation. The steady increase in oil revenues led to a gradual improvement in the exchange rate until it reached 1,220 dinars to the dollar.
Many politicians and analysts believe that the daily currency auction is a way to smuggle the dollar through private banks under the pretext of importation, and their criticism has increased in light of the current financial crisis.
The question asked by those concerned in Iraq is: Does the daily currency auction have to continue despite the claims made about it? Or should we abandon it and turn to other means so that the process of buying and selling the dollar is free, without restrictions, as some suggest?
Choosing the appropriate exchange rate for any state is a critical scientific process that depends on the state’s economic and financial situation as well as its economic ideology. The states that choose a free floating exchange rate for its currency and make its buying and selling a free process without restrictions are usually powerful, developed economies that have important and multiple foreign currency sources and currencies of importance in international trade and investment flows, as well as large reserves of international currencies.
To preserve the exchange rate, a country that pegged its currencies to a foreign currency such as the dollar or to a currency basket has two options. The first is to have large foreign currency and gold reserves to support the pegged exchange rate when necessary, as the GCC countries do. The second is to maintain the exchange rate through the management of the monetary authority, which influences the factors determining the demand for foreign currency. This is what Iraq was doing prior to the first oil boom.
Presently in Iraq, the government does not have an official Iraqi dinar to dollar exchange rate, or a currency basket. The $3.3 exchange rate is no longer used for any currency, although it has not been officially canceled.
Accordingly, in light of the limited foreign currency resources and difficulty to go beyond oil resources, it is imperative that the state manages the current exchange rate through the development of a foreign exchange budget by the Central Bank, which will determine the allocation of imported goods, services and transfers without charges.
This way, it is possible to maintain the current exchange rate’s stability and to limit expenditures in foreign currency to the available resources until the circumstances are favorable for monetary reform and the adoption of an appropriate official exchange rate.
So let us look at what she is saying to the people of Iraq. Remember these articles are for the people of Iraq and we are only secondary beneficiaries of this information as investors.
I quote from the article below – “the lowest person of chairmen of the departments in some private banks taken advantage of currency auction of about 300 to 400 million dollars a month, “pointing out that” the reserve state continues to decline, as it was more than $ 80 billion and is now $ 59 billion as a result of the loss of money and she went into the pockets of corrupt . “
Do you now see the problem they are having with attempting to raise the value of the dinar at least to the point of a 1:1 par to the US dollar so they launch the lower denominations. Tamami has been telling us now in recent days in 3 separate articles the problems she has encountered. The CBI is biting at the bit to launch these lower denominations but are being held back. Why?
TAMAMI IS TELLING US WHY ! Did you read the article above and my other 2 articles from past news letters?
Remember the auctions are targeted to end at the end of 2015. So what does this tell us?
TAMIMI REVEAL SERIOUS CORRUPTION FILES OF MILLIONS OF DOLLARS IN THE CENTRAL BANK AUCTION
BAGHDAD – Iraq Press – December 9 said a member of the Finance Committee in Parliament, Majida al-Tamimi, said banks managers benefit from currency auction of the Central Bank between 300 to 400 million dollars a month. Said Tamimi, in a press release that” the lowest person of chairmen of the departments in some private banks taken advantage of currency auction of about 300 to 400 million dollars a month, “pointing out that” the reserve state continues to decline, as it was more than $ 80 billion and is now $ 59 billion as a result of the loss of money and she went into the pockets of corrupt .
Noted that the currency auction, which stress the cancellation of tours licenses destroyed Iraq’s economy, because the money that is wasted in these two very large paragraphs and should be a serious review of the two size “indicating” the importance of a central bank governor and the first line in the administration of specialists in Economy and Finance, and those with advanced degrees, and have banking experience and Specialization financial side.
Tamimi said, The Finance Committee received a letter from the central bank is in the process study and answer them, and then will host the governor to put points on the characters and to reduce the size of large-scale corruption index our, the conservative claim by providing them with” a formal letter explaining in detail how much was the official reserve and how much was now, for the attention of the Iraqi people to the amount of money wasted. Revealed Tamimi for the one person to import materials worth two billion dollars and the capital of his company of 50 million dinars only, wondered” how the central bank to deal with such people.
The Governor of the Central Bank and the Agency on the Keywords announced in 20 of the month of November last that the bank reserves of foreign exchange of 60 billion dollars, he said, adding he was “sufficient to six months,” noting “The central bank is working on the application of parallel policy to maintain the overall stability of prices and curb inflation and raised suspicions of corruption and money laundering operations through the Central Bank auction. Q ended
JAN LAUNCH THE 50 AND 100 THOUSAND NOTES PAVING WAY TO DELETE THE ZEROS.
Specialists are counting on the lifting of the operational costs of the bank in the management and organization of the currency Central to launch the first amount of the category of 50,00 notes in February next and is planning to issue the 100,00 notes.
Sunday-13 Dec 2015
Baghdad, Mohammed Hadi Revealed informed sources in the Iraqi Central Bank that the latter intends to launch its first amount of a class of 50 thousand dinars, the end of next January, was attributed to postpone its launch last month to “organizational reasons”, while in the House of Representatives Finance Committee confirmed that Bank is planning, within the future strategy, to issue a category of cash by 100 thousand dinars.
It was central to last month’s launch of the new currency, though he had intended his employees’ salaries, including distribution, attributed the experts in economic affairs reason the central lingered in the launch of the new currency to Aldaot suffered by After it announced, but the parliamentary Finance Committee confirms the absence of any problematic in the issuance of those cash category.
She informed sources from within the central bank in an interview with the correspondent of “the world” on Saturday that “the central bank of Iraq intends to launch its first amount of a class of 50 thousand dinars, the end of the month next January, after the completion of all procedures related to the issuance of the new currency, “pointing out” it will replace damaged currency shop “. The sources, who preferred not to reveal her identity, said that “the new currency printed to respond to Iraqi requests in terms of trading and transfer money, the fact that the recent currency category 25 thousand low compared to the monetary mass in,” indicating that “the central for the release of 50 thousand dinars, last November regulatory reasons.
“The Central Bank of Iraq, in late October, issued a new banknote fifty thousand Dinars category, attributing this to the completion of the Iraqi Securities monetary structure and the development of high-value category in circulation, as he emphasized that it contains” structures against attempts at counterfeiting Balastantsak “. and the effects of the announcement of the new monetary Category sensation in economic circles, as counted specialists in financial affairs gateway to the heights chronic inflation and the beginning of a great weakness in the local currency, while others say it will contribute to facilitating business transactions and pave the way for the process of deleting the zeros and the withdrawal of the small coins.
Member of the Finance Committee in the House of Representatives Abdul Qader Mohammed, said in connection with “the world” on Saturday, as “there are no obstacles or problematic stand-off in front of the launch of the currency of 50 thousand dinars, the central order to launch over the past month for organizational reasons related to the local market “adding that he” knows the right time to launch those mass in order not to influence the market.
“He added that” the new currency that will expand the circle of dealing in Iraqi dinars, also encourages citizens to acquire and save the local currency instead of the dollar, “revealing at the same time “The central ambition in the future strategy of the issuance of a class of 100,000 dinars in order to complete the local currency structure.”
For his part, attributed the name of Abdul Hadi, an economist, central to postpone the launch of the 50th class thousand dinars last month to some of the pressure and objections, which suffered after the announcement for the new currency.
The Governor of the Central Bank on the Keywords said earlier, “The central bank is facing different pressures,” adding that “print currency fifty thousand dinars, do not lead to inflation or raise prices.” In connection with “the world”, says Abdul Hadi, said that “political interference in the work of the bank and irresponsible statements could affect the nature of his work.”
Not reliable economic expert on the issue of 50 000 dinars, in the stability of the market, because “big deals covered through the dollar.”
Refers Abdul Hadi said “There are changes in the economic facts on the ground, and a contraction in economic reality of the country.”
But Abdul Hadi believes that the 50 thousand “would raise imposed on a bank in the management of operational costs and the organization of the currency.”
Presumably the writer star Badri Mohannad that accompanied “the issuance of currency great value, an increase in the gross national product of the state, of the quantity of goods produced and services rendered in a prosperous economy, and this did not happen in Iraq, “explaining that” the government after it exhausted sale securities proceeded to coin a new paper version to fill part of the deficit Treasury, which is known to funding through the (currency printing – additional).
Badri is that “one of the most dangerous ways to cover the deficit.” He adds that “this step will end by reducing the purchasing power of the Iraqi currency, with the gradual disappearance of small monetary categories, which means plug at the expense of the Iraqi citizen simple and standard of living low already, “pointing out that” it dripped saliva counterfeiters who Atvennon in the tradition of forging currency, and backed by states using all means of technology in the fraud.
“The central bank said the issuance of banknotes category 50,000 thousand dinars dimensions of 65 mm width, and 156 mm length, which is dominated by light brown except Framework decorations that took bold color, “adding that” the purpose of the issuance is to complete the Iraqi Securities monetary structure and the development of high-value category in circulation. ”
He said that the banknote was printed using the quality of high-quality printing paper with a number of security and technical marks where, noting that “the face of the paper includes a schematic picture of a paddle wheel Euphrates and palm trees in the middle and a picture of a Kurdistan Falls.”
He said the bank “The paper also includes security signs printed magnetic ink, in addition to the structures against attempts at counterfeiting cloning, “pointing out that” paper contains the signs to serve blind people to know it in the form of a four horizontal straight lines, in addition to the watermark (horse’s head) with a Palm Assyrian half imprinted in the face of the paper and the other half in the back.
“He said the bank” back of the paper will include a graphical picture of the Iraqi Marshlands include reed house and a number of fishermen and a group of animals and a picture of a palm Iraq with Tigris and Euphrates rivers planning within the map of Iraq, “explaining that” the banknote has been repainted with paint markets in order to extend the life of the paper and protect it from dirt and dust.
“The central bank announced in 2013 its intention to issue coins and small denominations of paper and other great categories written in Arabic and Kurdish.
Update: Needed Laws
Today I need to explain more to you about the last of needed remaining laws and the importance of the timing of the implementation of these laws. I also need to relate the timing of these laws to the overall process of the RV so you can see that Masuam, Jubouri and Abadi are not working in a vacuum but are coordinating and planning this entire process carefully.
What laws are we taking mostly about?
First I am going to talk about the long awaited Reconciliation Conference. It is here and it was conducted this past weekend. Remember this conference? Remember what I have been telling you about the timing of this first conference and the significance of it? Well- it is now done.
The article below refers to this meeting as the First “National Congress” is has also been referred to as the Reconciliation meeting or the “Reconciliation Conference”. I have included the article below telling us all about this meeting. So no more rumors about the meeting not taking place and we are still waiting for it. It is done!
This meeting of course is right on schedule as they have told us it would take place in mid December and it did take place. Remember too I told you all the needed laws must first be implemented or put in place to bring about the success of this meeting. Everything I am hearing is that the meeting was a great success.
I quote from the article – “Al-Janabi called for unity among the Iraqi people and activating the national reconciliation also called for state citizenship and building a modern civil state”.
Now we know the objectives and goals of the Reconciliation Conference and what hopefully will be actually accomplished resulting from it in the near future. Could the pieces to this puzzle come together any clearer now? Oh Boy ! Are you too excited?
THE START OF THE FIRST NATIONAL CONGRESS OF THE IRAQI ELITES AND COMPETENCIES
Sponsored by Republican assembly Iraqi Prime Saad Asim al-Janabi began the morning of the first National Congress of the toast and the Iraqi competencies in Palestine International Hotel in Baghdad.
Al-Janabi called for unity among the Iraqi people and activating the national reconciliation also called for state citizenship and building a modern civil state, calling for a real and serious pause and evoke energies and potentials and take competency active role in the construction through the institutional framework ensures put the right man in the right place and build a national project shade beneath the Iraqis in all their colors and their sects and their attitudes and governed by the Constitution, which guarantees the state management mechanisms and to ensure that Iraqi has the right to a free and dignified life.
Maistojb reconsider its work to change it or modify it so as to ensure the achievement of the goal Alasma to build a state of institutions, as called for al-Janabi, providing the biggest political victory guarantor requirements to achieve a military victory and cemented its house THROUGH THE ACHIEVEMENT OF COMPREHENSIVE NATIONAL RECONCILIATION.
Next I am going to talk about the Parties law, the National Guard law and the reinstatement of the Customs & Tariffs and how these too are all interconnected with each other and are part of the “master” plan for the rebuilding of Iraq.
The Customs & Tariffs law they have told us plans to be re-launched on Dec 15th. We know the earlier launching was not successful due to the lack of the ability to “bill” through the IMF’s Customs and Tariffs automated system. To make this system work they will need an international currency rates linked to the global money exchanges. If they do not do this the volume of transactions could be virtually impossible to track and get the appropriate legal currency conversions for proper billing and accountability. Remember the IMF too needs their cut of the proceeds. The remainder goes to Iraq. There could be ramped corruption once again.
So having a currency online is essential. My opinion is this will be postponed again since I do not believe (from what I just described above) that they will be ready will a global currency on the global exchanges by Tuesday 11/15. Just my opinion and I gave you FACTS to back up my opinion. I could be wrong.
Next we have all been asking – Why are they waiting so long to implement the National Guard law?
I am being told the following:
First I must go back to the Parties law because they are so interconnected.
The Parties law, as you may recall, makes it illegal for a political party or a politician to be affiliated with any terrorism organization or private militia (past or present). They have had a 90 day hold on the “full” implementation to rework out the details are reorganize to meet the standards of the law. This applies especially to militias like Maliki’s private militias, that ravaged Iraq and caused political motivated bombings as retributions to anytime his party (Dowa) did not agree whit what the parliament was doing (in other words against the will of Iran). So this also includes the elimination of Iranian influence and the Kud forces now occupying Iraq. The new law is very clear on this subject matter.
Remember too that just last Thursday 12/10 an international conference took place with representatives from Russia, Turkey, Saudi, USA, Iraq, Syria and Iran met to discuss a plan to end ISIS and terrorism in the Syria and Iraq and eventually throughout the middle east. In the plan it was agreed by all to include a process that will be implemented by Jan 10, 2016 which includes all militias, terrorists organizations (ISIS & DAASH) and foreign militias to vacate these countries. Of course we know ISIS will have to be forcefully removed or killed but the progress being made suggests this could be accomplished by this timeframe. WOW!
Now let’s look at the National Guard law and how it interconnects with all these other events. We now can understand that it could not have been implemented prior to the Parties law. Why?
It forces the Iraqi private militias to join the regional armed forces of Iraq. In other words get “nationalized”. The theory is “either you are with us or you are against us”. So this law sorts out the bad guys from the good guys. It pin points your enemies. Can’t fight your enemies unless they are officially your enemies…right?
So after the National Guard law is passed in parliament and fully implemented, these so called “private militias” (or armies) are illegal and will be “officially” now enemies of the state, thus hunted down and eliminated as any other terrorist unit working inside Iraq. WOW again!
To put the icing on the cake they also just implemented the anti-TERRORISM law last week (article below) as it was finalized and placed in the Iraq national gazette.
Do you see how the agreements from this latest conference on 12/10 also align with the Parties law, the National Guard law and now the enactment of the anti-terrorist law? It is NOT COINCIDENTAL they have written these laws and the timing of them to implement. Seems first the needed too to see that the international coalition was going to stand behind them to implement them. Why did they need this support?
It is not going to be easy to throw the 1mill+ Iranian Kud forces out of Iraq. It may have to be done forcefully. Also these private militias are going to be a problem too. But now we have at least made them illegal and have coalition forces to back up and enforce the laws.
Could it get any better than this to taking these final steps to ensure the SECURITY measures. All I can say is good things come to those that wait!
Abadi, Jubouri and Masuam you are BRILLIANT politicians in the way they proceeded in this process.
Could this also finally be the end to Maliki, his goons and the Iranian influence?
Could this pave the way for the much needed security for the go-ahead to complete the “project to delete the zeros”?
I can only say YES, YES and YES again from all I can ascertain.
So to put yet more icing on our cake today – out pops more good news! So knowing all this about these new laws, that are about to become effective, the CBI once again pops out an article on their intention to go forward again with the launching of the delayed 50,000 notes. They even tell us that in late January 2016 they fully intend to launch these notes and that they will “pave the wave for the “ project to delete the zeros”. Could the news get any better?
Remember sometimes the timing of these events is just as important as to what they tell us.
I quote from the article above – “Revealed informed sources in the Iraqi Central Bank that the latter intends to launch its first amount of a class of 50 thousand dinars, the end of next January”.
The CBI also confirmed again what I have told you as to why the 50,000 notes were “postponed” in December.
I quote from the article above – “attributed the name of Abdul Hadi, an economist, central to postpone the launch of the 50th class thousand dinars last month to some of the pressure and objections, which suffered after the announcement for the new currency”.
They also are telling us again too how the new security features of the 50,000 will eliminate counterfeiting and they collect the other 3 zero notes (1,000, 5,000, 10,000 and 25,000) to replace with the newer, more secure 50,000 notes. Remember they told us they will NOT have to collect the 50,000 out of circulation in the project to delete the zeros since these notes WILL REMAIN in circulation. Eventually the majority of them will make it back to the banks and be retained for interbanking and very large transactions. So they accomplish three objectives 1) decrease the amount of the older undesired 3 zeros notes and 2) issue newer, more secure notes to replace them 3) issued one of the last three remaining notes of the total currencies they need to launch to complete the monetary reform project (meaning the 500, 50k and 100k notes)
The best part is they told us this was the plan all along and that the launching of the 500, 50,000 and 100,000 notes will CONCLUDE THEIR BAG OF NEW CURRENCIES. We know the lower denominations and coins are already at the banks awaiting distribution so they do not talk much about these since they are technically already launched just waiting to be used once they give the “go ahead”.
They will NOT give the “go ahead” until probably sometime in early February 2016 as they need to first launch the 50,000 notes in late January as they told us this will “pave the way” for the project to delete the zeros (which means turn in any remaining notes and make the 3 zeros notes illegal tender, given a future date (not yet announced).
So we also know they need a 1:1 par value of the dinar to US dollar to distribute the lower denominations / coins and give the people an incentive to demand the lower denominations.
Also we know that the SMART cards will instrumental too in that they will reflect the new rate and the lower denominations can then be distributed in one of two ways (remember the CBI is not going to “give” out FREE money:
1) taking out cash in ATM machines using their SMART debit cards (or National Unity cards) and 2) cash withdrawals from their banking accounts
Then the lower denoms will slowly be circulated and become a reality. The CBI expects this process to take about 2 years to fully replace the US dollar and the older 3 zero notes. Personally I do not believe they will give Iraq the full two years to expire the large 3 zero notes since the terrorists have large quantities of these and they want to force them out of circulation as soon as possible in the middle east.
However, do not worry about expiration timelines in the USA, Canada and Europe, since we will have plenty of time to exchange out our notes. Not even something you should be concerned about at this time. So relax ! Let’s get the RV first……lol….lol….
We can see all these needed laws are now coming together nicely as last week the Office of the President of the House of Representatives Saleem al-Jubouri, on Friday, announced the launch of the public budget bill to the next parliamentary session agenda Monday 12/14 today for a vote. WOW again!
Can you see it? I can and I hope I explained it to everyone clearly. I wish all you so called intel “gurus” will take this information and pass it on to your callers and give accurate, realistic news and forget about all this misinformation and hype about an RV any time prior to late January or early February 2016.
Sorry we will have to wait. The words of the CBI not mine!
IRAQI OFFICIAL GAZETTE PUBLISHED THE FIGHT AGAINST MONEY LAUNDERING AND THE FINANCING OF THE TERRORISM LAW
The official Iraqi newspaper facts in the new issue published a number of laws and appointments of ambassadors of Iraqis abroad.
According to the Gazette Bulletin according to a statement of the Ministry of Justice, “the first amendment to the law sanctions the Internal Security Forces No. 14 of 2008 Law No. 38, and the law to combat money laundering and terrorism financing No. 39 [, passed by Parliament on 16 September of the past.”
“Set Ziad Khaled Abdul Ali ambassador resident and Plenipotentiary also published Plenipotentiary of the Republic of Iraq to the Kingdom of Morocco No. 72, and the appointment of Arshad Omar Ismail ambassador resident and Extraordinary and Plenipotentiary of the Republic of Iraq to the Federal Republic of Brazil, No. 73, and the appointment of a pro Mohammed Issa Mohammed Saleh Permanent Representative of Iraq to the Republic to the the United Nations in Geneva No. 74 “.
The statement noted the deployment of the facts the decision “set Adi Musa Abdul Hadi al-Khair Allah ambassador resident and Extraordinary and Plenipotentiary of the Republic of Iraq to the Republic of Austria, No. 75, and the appointment of Ali Yasin Mohammed Karim ambassador resident and Extraordinary and Plenipotentiary of the Republic of Iraq to the Islamic Republic of Pakistan No. 76, and the appointment of Jawad Kadhim Jawad non-resident ambassador to the Republic of Iraq to Dydoukah Luxembourg No. 77 “.
“The First Amendment to the rules of procedure of the Department of Information in the Ministry of Justice No. 6 to No. 9 in 2013, and the introduction of a notary in Jadiriyah circle” were among the Gazette Bulletin Alsmh
I expect a ton are articles between this new target date. The articles should inform us and guide us through the currency reform process with more details on how they intend to approach it. I will bring you fine dinarians all the news I can and hope everyone can have a successful and timely currency exchange (when the time comes).
Update: Fighting ISIS
One more item today:
Let’s not forget to keep praying for the success of THESE IRAQI AND COALITION SOLDIERS. I believe their success is in part some of the acceleration of the process we are now witnessing.
“Lord, protect Abadi and all who stand with him in righteousness, the Iraq and Coalition Soldiers who are fighting the good fight against terrorism, that they would be shielded from the enemy and would be Victorious against them! We ask that the Victory comes swiftly and healing of the Iraqi peoples and all whom have been effected by these evil doers can begin! Amen!
Till next time…. Auf Wiedersehen!
Peace and Luv To Ya All.
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