If anyone is interested, here are the Cliff Notes of that call:
Frank and Delta CC 9-8-2011
Frank is speaking about some of last few days’ news – he speaks of the two videos we’ve seen the last couple days.
Frank is waiting for Delta to come on and give report – Delta reports
Frank explains the video from the other day on CNJT
Explains he feels the rate will not stay at .86 for verylong – it will explode!
Three hands – in hand number 1 – 1000 dinar – hand 2 – 1 Iraqidinar – 3rd hand – 1 USD
Frank explains how this will NOT LOP!!
Delta welcomes back Frank E and Jan
CBI website being down – speaks of the past holiday – cbi upand down – the NEW WEB SITE IS DONE – it’s being tested and prepped for being released!!! Warka bank – copyright 2010 CBI site during holiday – site was suspended – how can this be? How does it come back? Delta says they were testing the new site.
Delta’s contact in CBI clearly heard from Shabibi that this would happen in SEPTEMBER!!! We just weren’t told what day in Sept.
Speaks how their reserves went from $50 billion to $58 billion when site was up and down over holiday. But true reserves is around $250+ billion.
The RV is confidential / classified – 2 books – 1 they show –1 they have the real numbers
Article that came out today – Delta told us about a month ago – one came out today – about meeting that happened last Thursday! During Eid holiday. The financial committee met on Thursday withShabs and advisors for hours. Discussed theprocess / methods how to lift 3 0s; and that they all agreed how to go aboutthis!! The system HAS TO GO DOWN beforethe RV! On June 23, shabs had cbi tobegin the process and start the system. Every bank has their own stack of money of dinar. LDs are done – article June 23 up to 100dinar – done. Utube video is huge! Coming from outside Iraq. An official announcement.
We are now being told this is our month. The have told us the rate starting out which is.86. old and new will co-exist.
UTube video is huge! 2-3 years meaning they will have several RVs over 2-3 yrs explainsDelta. May take about 2 yrs to get backto where they were 20/30 yrs ago. But likely not to take even that long. They cannot enter Chapt. 8 w/o using ONE currency! Rate to likely go up first of 2012. Delta thinks possibly ONE YEAR to reach their old RATE strength/value.
Frank speaks about that they have not only oil but GAS! Many other economic commodities...
Frank thinks in 3 months another RV and in 6 months another and by end of 2012 first of 2013 another.
2004 was when CBI started using the USD for liquidity to start the auctions - the US helped Iraq – they bought /swapped money – this is how the US got the 20+ Trillion dinar
Bluestar pipes in for a second
Iraq to create special committees to track all people who do counterfeiting. To guard the old dinar so they cannot smuggle it out to then exchange it for /with the new rate!
Franks speaks of a report from the financial committees that this has been done. Done a while ago – meeting resulted in an agreement of the mechanism and its impact on the economy. And they liked it! Yeah, it’s kewl, here’s our stamp of approval.
Many articles in past couple months about the removing of the 3 Os! Frank thinks the process of lifting the Os is DONE. 11 articles about lifting 3 Os at least. Big pile telling us this is important that they have done it.
Delta takes us back to June 23. CBI begins the restructuring their monetary policy. Completing this behind closed doors since then. Getting all banks up to spec and online and synced. Delta says yes, this is done! The article from today – can be up to two weeks old. A week ago this article that came out today was confirming what was done a week ago. Delta likes the insistence from the CBI saying this is going to get done. NO LOP! All the implementation of lifting the 0s is done! Today he said ALL THE PREPERATION TO RELEASE THE RV IS DONE! They will and have to report to the Parliament that they are done. Delta said his is SO Happy with this news! This is big! WE SHOULD BE VERY EXCITED! Someone outside of Iraq announcing the Iraq RV is going to happen! Frank says why did take a month and a half to announce this? CBI does not need approval to do an RV. However, they are not in control. In that article no mention about Parliament approval. They don’t need it.
We now await the announcement of what has been completed behind closed doors!
Shabib never mentions issues with the Erbil, the HCL, the GOI… he just wants security.
Bluestar – Asks about the US leaving Iraq – Delta says we will always be there – biggest Embassy is in Iraq
Security? Iran? Will this affect oil and thus the RV. After the revalue, no turning back it will only go up! Might take a while to reach 70s and 80s rate. Delta says we are in a WIN WIN situation! Iraq will not fail; the US andworld will make sure of this. Everyone needs Iraq to do well! There could be delays, but they will move forward.
Eagle 1 – heard that central bank of US would be making amove with all the CBs for major move that would affect our economy.
Delta – the meeting of all the CB heads is a huge indicator? Why did they all get together??? Are the meeting to discuss cheeseburgers? No, they are talking about money! Big money! LoL
Frank – we are likely to see rapid fire publicity about theRV from now on until the RV
Nadia comes on and reports to the family that her friend has seen the LDs at a bank and they are waiting for them to be put out. They said why do you want them? You can’t use them yet, but SOOM!!! WHOO! HOO!
Delta just found a new article and posted it;
by DELTA » September 8th, 2011, 9:43pm •
Iraq in hyperinflation; currency to berevalued 09-08-2011 09:38 BJT
While many Asian nations battle stubbornly rising prices, Iraq offers anexample of the extreme - hyperinflation, that is - inflation that has spiraledout of control.
It occurs when there is an unchecked increase in the money supply. Iraq'scentral bank is planning to solve the issue by completely re-valuing its Dinar.
In countries experiencing hyperinflation, the central banks often falls into avicious cycle - printing money in larger and larger denominations as smallerdenomination notes become worthless. One way to avoid the use of large numbersis by declaring a new unit of currency.
Mudher Kasim, Vice President of Iraq Central Bank said, "Over the past 30years, inflation and economic intervention has caused the denomination of theDinar to continue to rise. But the exchange rate is so low that the highestdenomination is worth less than 25 dollars. Therefore, we need to carry outcurrency reform."
While many Asian nations battle stubbornly rising prices, Iraq offers anexample of the extreme - hyperinflation.
Iraq's central bank announced back in June that it would re-denominate theIraqi Dinar, removing three zeroes.
The central bank says complete currency reform will take 2 to 3 years. Expertssay it won't be an easy task.
Adnan Al Sady, an economic analyst said, "It is unfortunate that the Iraqimarket is unstable right now. Currency reform will have great impact on themarket. That's what we are worried about."
Many residents are also concerned about what impact the change might have ontheir spending habits.
Majeed Laftah, a resident in Baghdad said, "The sudden change of the Dinarmight cause problems. We hope that after the currency reform, we can still buythings like the way we did before."
Right now, the highest denomination of Dinar is 25 thousand, and the lowest is250. One U.S dollar is equivalent to 1180 Dinars.