Dinar Rumor Boots On Ground Hearsay

[Chief V]

Okay to start off, we all know that the results of the election that we're going to hear are just preliminary, the Iraqi Government already put out that the official results will not be until the end of the month. I'm on a base in Iraq and in speaking with the Deputy Mayor of the base (Military) he has a local individual who makes runs to Baghdad frequently. He and I got into a discussion about dinar as I had made mention to him of it, and he decided after his own due diligence to purchase 2 mil.

Well I asked him to have his local national put his feelers out in Baghdad when he's there, he's been twice, and no news the first trip which was last week. One reason I didn't post anything about it. Well he just came back from Baghdad and told the Deputy Mayor that he has a friend who works for the ISX and he asked him about the Dinar situation and basically said there is no news and that whatever is going to happen will be after the election's official results, in other words after the end of the month. The mayor actually drove up from his compound to tell me this so I have no reason not to believe it. Grain of salt folks, grain of salt.... and a pound of patience.

V

[Bob]

Thank you for the info and more importantly...thank you for your service!

[DgreenFSU66]

Thanks Chief

[southerngal]

Thank you for letting us know this info and thank you for serving our country. Be safe my friend.

[voodoo]

Thanks for the Intel Chief

[benelli_t]

Thanks for your service!

[longpalms]

Thanks for the report. I appreciate your effort and your service to our country--Thanks

[tampa1000]

Thank you, keep us informed and be safe!

[Nate]

This post makes a lot of sense to me

[ArtistsandWriters]

Okay to start off, we all know that the results of the election that we're going to hear are just preliminary, the Iraqi Government already put out that the official results will not be until the end of the month. I'm on a base in Iraq and in speaking with the Deputy Mayor of the base (Military) he has a local individual who makes runs to Baghdad frequently. He and I got into a discussion about dinar as I had made mention to him of it, and he decided after his own due diligence to purchase 2 mil.

Well I asked him to have his local national put his feelers out in Baghdad when he's there, he's been twice, and no news the first trip which was last week. One reason I didn't post anything about it. Well he just came back from Baghdad and told the Deputy Mayor that he has a friend who works for the ISX and he asked him about the Dinar situation and basically said there is no news and that whatever is going to happen will be after the election's official results, in other words after the end of the month. The mayor actually drove up from his compound to tell me this so I have no reason not to believe it. Grain of salt folks, grain of salt.... and a pound of patience.

V

Chief V:

First, thank you for your useful, sober and intelligent post.

Second, I have always maintained that we'll have nothing of any substantive value until after the final ballot tally has been certified. Moreover, and in the real world of monetary realism in today's climate, a number of trigger mechanisms have to be pulled before we will ever see anything in the way of a revaluation of the Iraqi dinar. People seem to overlook this.

Cooler heads not only prevail, they rule the world. Cooler heads, and far, far removed from the Tigris-Euphrates Valley, are calling the shots, here. When they grunt "yes", then we'll see something

[czeitner]

Thanks Chief. Keep up the good work, and thank you very much for serving this great country of ours.

[pete71622]

thank you for your service! stay saff

[Cheri4]

Thanks for the post and service to our country

[TMills6864]

THANK YOU -- sounds very sincere and real to me...

[nikkibomber]

I agree with you "Artisitandwriters", for my own education in all of this, which triggers/mechanisms still need to be pulled?

[gman51]

You are in my prayers. I have great admiration and respect for you and your committment to this great nation. God bless you and keep you.

[contractors]

Thank you for the post we appreciate your service....

[krull]

Thanks for serving our country

[Linda]

Thank you Chief for the info. And for your dedication to USA....I can not thank you enough for all you do for "We The People". God Bless you richly.....

[gozilla]

Thanks Chief!!

[Mongo]

Hay how did I get down here??

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[VICTORIALAWIZZA]

Chief V thank you for the update and for your Service for the country,

any information from the home front of Iraq is greatly appreciated.

[MariaSoledad]

Thank you for the news and thank you for being a GREAT AMERICAN!

[xander]

Thanks Chief, May God bless you and keep you safe.

[ArtistsandWriters]

I agree with you "Artisitandwriters", for my own education in all of this, which triggers/mechanisms still need to be pulled?

Hi, Nikkibomber,

There are a number of my somewhat detailed, past posts on this particular Forum, which you can peruse at your leisure at a later date. I will attempt to encapsulate them for you below.

The mechanisms attendant upon the revaluation of the currency will be effected in two different venues: internally in Iraq and externally via the world currency exchanges and their minions.

Internally, Iraq must do three things:

1) Engage in what are known as "open-market operations" to artificially dry up the physical money supply of notes currently in circulation. This can be accomplished, initially, through that much-touted "LOP", and then, afterward, through a mandatory recall of notes within their domestic banking network. Remember, when there are too many notes chasing too few assets, and coupled with largely undeveloped natural resources, you have what is known as "stagflation".

2) Increase what are known as the "discount rates" to the current, 13 member banks. Discount rates are those rates of interest that the CBI (Central Bank of Iraq) imposes upon its approved members when loaning them money. Yes, banks have to "borrow", too, in order to function properly.

3) Something they have already done of late: the increasing of what are known as the "liquidity reserve ratios" of each and every member bank branch. What this means is that if a bank branch reports, for example, 100 million dinars of assets for a particular quarter, that 20-25% of those assets must be represented by cash-on-hand in the vault and not to be touched at all until and unless both the Finance Ministry and the CBI give the go-ahead.

I know this all seems deliberately convoluted and confusing by design, but I hope this begins to both address and to answer your question.

The truly-governing, external factor, here, I will provide to you in a separate post.