Today is Saturday 11/29 and I believe Iraq is literally very much on the verge of bringing back their currency online to a global status. This has not changed and is moving forward with the final steps in preparation to do so.
However my USA contact now says it may be late December or early January before it is finalized on the public exchanges. What I mean by this is then opened to the general public were anyone can walk in to the bank and exchange or purchase dinar.
However I do know for a fact they have already begun exchanging many of the contracted groups behind the scenes and continue to do so now for a couple weeks already.
Now we are waiting for the prime minister of Iraq to make an announcement that it is completed and the currency rate has finally been standardize through the provinces. This is something noteworthy to watch for in the news. This will mean they have went global and the revaluation is done.
If you had signed up for a group your rate is locked in and I am hearing they will honor that rate before the general public gets the rollout. In the past, as you may know, we all had the opportunity to form a group and register. Did you know abut this? This was not made known to everyone. I personally did not hear about it until it was too late.
Many who knew about it have done so and so they now will get the privilege of exchanging ahead of the public. If you are a registered member of a group you may be called in to exchange any day now if not already done so. If you have not yet been called I would inquire with the source you registered with. To register did not mean you ever had to relinquish possession of your paper currency. If you did so this was not a legitimate sanctioned group and you may be now out of luck.
This is the USA rollout plan. Unfortunately the rest of the world will have to go along with the plan too. I do not see the general public going to the bank until anytime after the Christmas holiday. This is still very encouraging and we should all be very happy this will finally be over.
Last week parliament and the GOI have questioned once again why the CBI is not completing this project to delete the zeros (currency reforms). In return the finance committee stated that the project for economic reforms will be completed by Monday, Dec 1st. The question is – does this include the currency reform, meaning currency rollout to international status with new rate?
Many say yes, however I do not go along with these thoughts. I want to hear that the final steps of the “project to delete the zeros” is underway. This will be sweet words to my ears. Not that it is not going to begin again but I just do not believe what Iraq means by financial reforms and this Dec 1st date is for the currency reform….sorry ! This is just another blunder on the part of these intel gurus, grasping at any straw to confirm once again the RV is happening and there is a foreseeable target date. Always false target dates and how many of do we have to hear?
But I do believe it is very close but not just the Dec 1st date, as many are hoping for.
So can you see their rollout strategy? By exchanging the “people in the know” first they will no longer be holders of dinars and so when it goes live on the open markets they will not have the opportunity to really cash in when the spike happens. This is their fear. Too many very rich people around. Too much money to influence in politics. They also do not want many to wait and watch the rate rise and then exchange with a very higher rate thus negating their contracts (which many have significantly lesser rates than the $3.58). Would you then take you dinar to exchange when called at your locked in rate of 50 cents or go to exchange outside your group (and negate your contract obligations) and get the much higher market rate of over $3.58. They're afraid would not live up to their part of the contract if $3.58 or more should be available.
However don’t forget also about the list of the important Iraqi laws I have mentioned in my last news letter dated 11/21 (LINK). These laws are going to come out in a basket and voted on simultaneously in parliament. Yet another item to watch for in the news media when we are really, really close to the RV.
An article this week has told us they intend to vote on a “group of laws” prior to going on vacation. The news did not tell us which laws but I believe they are the ones on my list below. I do not know how they intend to do this unless parliament’s vacation is postponed or entirely cancelled. Today is Saturday and still no further news on this topic. I would not put anything past Abadi.
I am also now going to add to the list to summarize what we should be looking for in the near future. The top 4 are still the main focus.
1.Oil and Gas (HCL) – need to complete immediately
2.Federal Court – (law of Accountability and Justice)- need this immediately
3.Parties law (define and limit parties in Iraq for next election process in 2018)
4.General Amnesty Law – need this immediately
5.Financial Reforms – need immediately for infrastructure projects and global banking
6.Federation Council laws (Provincial Council) will be ongoing for many years to come
7.Anti-Corruption laws – Abadi’s goal is to have zero tolerance or you’re out of the GOI
8.Reconstruction laws (Infrastructure laws) need to be in place by 2015.
These are all being worked on and are in a constant state of either being written, revised or on schedule to be reviewed or voted on by the parliament. I totally believe we will see all these areas of concern addressed by implementing sound legislation before the end of 2014.
Saleem al-Jubouri, head of the House of Representatives, announced on Saturday that Haider al-Abadi, the prime minister, will attend the parliament session to be held, Sunday 11/30, to submit the draft budget law for 2015, as he emphasized that the first reading of it will be in the same meeting. This is all good news since I believe the USA wants a sound budget for Iraq prior to the beginning of 2015.
Remember also that Iraqi parliament is set to go on a 30 day vacation. Jubouri has stated the vacation will not begin until the 2015 budget is completed. Do you see why now they are working do diligently to complete it? Their vacation period was set to begin on Dec 1st.
So today I send you an update one again to report on Iraqi progress.
As I have said in my prior news letter, I still believe we are in a sweet spot right now to literally see this RV in the coming days ahead. This is by far the best place I have ever seen this investment in the 10 years I have been following it.
Could they pop this out prior to Christmas to the general public? Yes – I believe anything is possible but first I know they want to get all the registered groups exchanged first. They are about 90% complete with that now so it could happen before Christmas.
In my last news letters I summarized some of the other issues I saw facing Iraq and why I felt these issues put enormous pressure on Iraq to get the CBI moving on the project to deleted the zeros from their currency. I now believe it is all done and we are just waiting on the final rollout.
I know they have tried this before unsuccessfully but this time they can not stop it. Like a small snow ball rolling down the alpine mountains it grows larger and larger everyday. The larger it get the harder it is to stop. Do you understand my analogy?
Then when can we expect the RV?
I believe we are in a rare opportunity and window like never before. In the coming days we should expect the RV.
Peace and Luv To Ya All,