6-24-2012 Enoch8: Phase one: Has already begun and will be complete after Sept. 2012 through Jan. 2013, when the new currency will be introduced. {Notice, I said ‘Introduced’, just as was said in the article posted above. THERE IS A BIG DIFFERENCE BETWEEN THE WORD ‘INTRODUCE’ and to ‘ISSUE’.
Notice neither I, nor the article said ‘ISSUE’.} Phase 2: The CBI plan, is to Issue the new currency, (Which by the way, it is required to get an approval from the GOI, to do, as per ART 110) and at that time, I should suspect, as the CBI Plan is calling for a Re-denomination, the instructions for the exchange of Old IQD to New IQD along with a new ISO code will be issued along with whatever additional instructions for exchange ratios, of Old IQD for the New Dinar. Phase 3: Is a 2 to 10 year plan, that involves, 2 years to remove the large denominations from circulation and replace them with digital banking accounts and probably about 25 to 30 Trillion new IQD, in lower denominations, mentioned earlier. The old notes can be held in international banking vaults, reserves, etc. and will be replaced, by something else of value and more than likely, by instruments, such as GOI Bonds or Securities, Cash, other potential assets, Bearer Bonds, etc. etc. and in this way, removed from circulation. Shabibi has the capacity to double the value any time he wants, yet has consistently only increased the circulation, instead of the value. Circulating money is a liability and I guarantee, if you follow the CBI Spread Sheets, they have not removed liquidity from circulation, but have in fact, increased it consistently every year for the past 8 years. The fact is, if CBI does not have policy and legislation from Parliament, that involves the signature of the Prime Minister, by law, we will never see the CBI plan implemented at all, because it far exceeds the limit the CBI is authorized to back it’s currency. But wait!! UNLESS the Ministry of Finance approves and allocates additional GOI Bonds and Securities as are listed on the CBI website, as part of the Monetary Plan, which can only be approved by the Legislative and Executive branches.
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