Phoenix Update: October 3rd 2010

[sportfisher]

great post and thanks to all, I have a question: Is it an advantange to have the smaller notes under 1K without the 000"s?

only if there is no redomination and you want to hold cash for a longer period after RV for more grow.

[ha ha]

No kiddin', Man. The oil reserve announcement was the first news article I read this morning. Word is that reserves are very signicantly higher than previously thought. That is pretty exciting.

Glad to have you back, bud.

Maynard

Many years back, it was stated that Iraq oil on the ground was estimated to be 560 billion. More then any Nation on Earth. Take note of l, ha ha, just said.

[guitarzan]

Phoenix, Thank you so much for being on this site. I recently have become a great fan of your knowledge, and the no-nonsense way that you post. Please post often, as I look forward to reading everything you have to say. I've wondered, can any country RV their currency at any time, and if so, does their country have to be worth a certain amount in assets, or what? Is each country tied to the value of other country's assets? Sorry if these are dumb questions, and if there are some good books or websites that you know of that could enlighten me on world finances, I would really appreciate it. Thanks Again!!! God Bless America and all who participate on here!!!

[Melanie]

This may sound like a stupid question, but it seems very relavent and valid. When/if we RV, and when/if they say there are only a certain amount of time to exchange in your dinar, "WHY" would the banks want to exchange for the "soon to be useless" dominations? I'm sorry if the answer is obvious, I just don't see it.

Thanks,

Mel

[brichards513]

Phoenix / Scooter / Maynard 57 / and all others that posted - thanks so much for a very insightful post and numerous thoughtful comments. I can only speak for myself - but I am sure that most if not all readers of this thread have learned a great deal about this speculation / investment that we have all seen fit to be a part of. Please continue to post your insights and information as it is some of the best on this site. Thanks again & GO RV!!!

[sportfisher]

This may sound like a stupid question, but it seems very relavent and valid. When/if we RV, and when/if they say there are only a certain amount of time to exchange in your dinar, "WHY" would the banks want to exchange for the "soon to be useless" dominations? I'm sorry if the answer is obvious, I just don't see it.

Thanks,

Mel

A RV would not have an exchange window period, that is only for a replacement currency due to Redenomination or just a straight currency replacement like if they were to switch to a GCC currency for example.

As far as exchanging the large bills goes, the banks still get credit for them even though they will be cancelled.

Edited October 3, 2010 by sportfisher

[cgbrown]

Monday, Oct. 4 --- is 90 days to the end of the year. Are we looking for some announcement tomorrow.

[fatbob]

Phoenix,

Thank you for sharing your wisdom on DV. It helps a lot of people deal with the stress of this investment. I am very interested to know how you came to the conclusion that speculators would get $25,000 USD for our $25,000 IQD notes while it lops in Iraq (assuming a $1=$1)? Why would the CBI not just lop everyone except for govts which hold IQD? Thanks and I hope this question makes sense.

[Phoenix]

This may sound like a stupid question, but it seems very relavent and valid. When/if we RV, and when/if they say there are only a certain amount of time to exchange in your dinar, "WHY" would the banks want to exchange for the "soon to be useless" dominations? I'm sorry if the answer is obvious, I just don't see it.

Thanks,

Mel

Banks are limited to how much foreign currency they can hold and anything over that limit is sent to the U.S. Treasury or exchanged to other banks.

From what I understand when the revaluation of the Iraqi Dinar takes place the banks will have a time limit under which they must ship all Iraqi Dinar exchanged to the United States Treasury.

The United States Treasury will in turn credit the banks with the proper exchange rate in USD giving the banks a profit.

So the banks exchange the dinar at a slight spread and in turn ship the Iraqi Dinar to the United States Treasury who gives the banks a slightly better exchange rate so within hours or days all Iraqi Dinar accepted at all banks within the United States will be shipped to the United States Treasury which will give all banks who exchange a huge profit.

What happens next with all of the Iraqi Dinar is something that is between the United States Treasury and the Central Bank of Iraq....which is none of our bees wax.

So every Iraqi Dinar exchanged by every bank in the United States will turn into pure proffit for all of the banks in a very short amount of time.

For all of the US banks doing the exchange the Iraqi Dinar exchange equals nothing short of quick easy money.

Phoenix

[Barboza]

Great post, Phoenix!

After reading your post, and all the replies, and noticing that even Scooter recogizes the value of your assessment, I come to the conclusion that the October Surprise is already taking place. In my opinion, we will see a new page full of great news that will be like a soothing balm to heal the deep wounds of a long waiting time.

So many people have made a contribution to this forum... and so many of us have had the benefit of outstanding men and women that have spent their time to help us in our understanding of the new developments. I thank God for being a member of this chatroom, and for the opportunity to express my gratitude for so many new friends I have encountered in this special endeavor.

Great job, Phoenix. Go, RV! Our hearts, minds and arms are wide open to receive you! Go, Go RV!

- Barboza

Edited October 4, 2010 by Barboza

[edavis]

Great post, Phoenix!

After reading your post, and all the replies, and noticing that even Scooter recogizes the value of your assessment, I come to the conclusion that the October Surprise is already taking place. In my opinion, we will see a new page full of great news that will be like a soothing balm to heal the deep wounds of a long waiting time.

So many people have made a contribution to this forum... and so many of us have had the benefit of outstanding men and women that have spent their time to help us in our understanding of the new developments. I thank God for being a member of this chatroom, and for the opportunity to express my gratitude for so many new friends I have encountered in this special endeavor.

Great job, Phoenix. Go, RV! Our hearts, minds and arms are wide open to receive you! Go, Go RV!

- Barboza

Excellent...Barboza I believe you said it all...I'll just simply add.... Praise the Lord !!!!!!!!!!!!!!!

[eoh1965]

* Phoenix Update: After the Gold Rush 10/03/10

October 3rd, 2010 01:44 pm · Posted in CHATS / POSTS

Phoenix Update: October 3rd 2010

Well here were are….finally after months of waiting we get a solid announcement on the formation of the next Iraqi Government.

As per my last update I have suspected that the delays we have seen for the last 5 months were actually engineered to intentionally push back the announcement of the formation of the Government of Iraq by unseen forces working on the behalf of the United States government in conjunction with the IMF and World Bank.

Now this is only my personal speculation but this speculation is based upon close observation of the on going situation within Iraq and within the legislative process here in the US and the rest of the world.

I will add that during this time of seemingly endless delay in Iraq that became almost comical (some would say painful) to watch there were major changes within the banking sector as far as regulations and reporting and those changes and updates were made not only here in the United States but also in the EU and the Arab world. It is worthy to note that some of these major changes came as late as last week.

I had mentioned in my last update that my speculation on the delay within the Iraqi political process would see its end on the 1st of October which as I had pointed out was the first day of the new fiscal year 2011. (The United States fiscal year)

Ok…so the question many ask is….Why?

What would be the reason for this delay?

Well we have seen from direct statements in the news that 2 major events are to occur as soon as the Government of Iraq is seated.

1. We have seen direct statements from the Central Bank of Iraq that the plan to remove the higher denominations and the issue of the lower denominations will happen as soon as the new government of Iraq is seated.

and….

2. We have seen the direct statements in the news from the nation of Kuwait that all issues between Kuwait and Iraq are resolved and will be finalized as soon as the new government of Iraq is seated and therefore fulfilling the last major issue for Iraq in regard to United Nations Chapter 7 Sanctions.

So it would appear that the seating of the next Government of Iraq will be the trigger to the launch of events that bring to conclusion the revaluation of the Iraqi Dinar and therefore the apparent manipulation used over the past 5 months to delay this major economic event was done in order to finalize important banking and tax regulations here in the United States and the rest of the world.

And now…all preparation and changes are done and we are now in the 1st quarter of fiscal year 2011 (US)

Ok…so where are we right now and what’s next?

We should see within this coming week a call to convene Parliament to get things rolling and to seat the government of Iraq.

We may even see it happen this very week…maybe.

Now Maliki has stated that well within the 30 days they will be finished filling all seats and from what I have read it will be much quicker…because over the last 5 months much work was done on the decisions on who would fill what seats has been made and they are ready to fill most positions very quickly and there is a very good chance we will see the formations happen within days and not weeks.

Also tomorrow, Monday the 4th. Iraq is to announce to the world the true extent of it’s oil reserves…this is HUGE news and will lay out clearly for all the world to see the massive amount of wealth held by Iraq in it’s natural reserves and will also help the world to understand the soon to happen revaluation of the Iraqi Dinar and also how this revaluation is not only possible but also how it will be supported.

So when will the Iraqi Dinar be revalued?

I speculate that it will happen soon after the top 3 positions are made official…those being the Speaker of Parliament, the President and the Prime Minister.

After that is OFFICAL…I say from that point the game is on.

Now…the next question is…so…..just what is the “game”?

We have all read the articles and announcements about the removal of the zeros and the new currency and as we all know that has brought forward endless debate and stress to dinar investors world wide and the reasons for the debate are understandable when looking at other historical situations with other nations.

BUT! Here is the situation…Iraq is not like any other historical model…and therefore the use of other nations currency changes are near useless when trying to project the future actions of the Central Bank of Iraq and its plans with the Iraqi Dinar.

The truth is they HAVE made it clear….sort of…..but the problem is everyone attempts to find the historical comparison and in doing so WRONGLY apply those historical situations onto Iraq and the Iraqi Dinar when in fact the true situation of Iraq and the massive wealth and resources held within the nation of Iraq have no comparison anywhere in the world and in fact the nation of Iraq and the wealth thereof are nothing short of an economic anomaly and being so require a “novel solution”

Therefore…as i have mentioned in the past what we are about to see in this “novel situation” is a “novel solution”.

This novel solution that we are about to witness is a combination of a LOP and a revaluation happening at the same time.

This novel solution will be to announce the New Currency in Iraq…this New Currency will be the lower denominations.

At the same time the New Currency is launched the older higher denominations will be called in and retired…this will be done with a time limit to allow people ample time to exchange the old higher denominations with the new lower denominations.

How long will the Central Bank of Iraq set for this?

Answer: The Central Bank of Iraq has stated that the plan to remove the zeros (larger denominations) will be completed before the end of the year (2010)

Now….here is the “novel” part of the solution…at the same time the New Currency is announced and released the value of the Iraqi Dinar will be raised (revaluation).

So that is the “novel solution” to the “novel situation”.

Now everyone may now better understand why everyone has been so confused on what is about to happen…the reason for the confusion has been the lack of historical precedent available to accurately plot the outcome.

I would like to add that this confusion was also by design and has been allowed to help stem speculation and as we can all see by the relative low numbers of IQD investors in this nation and the outright diversion many have to the subject of investment in the Iraqi Dinar this attempt has been for the most part very successful.

So…here we are….on the threshold of this “novel event”.

Watch the news for official seating of the government of Iraq for that I feel….will be the trigger.

So that’s I all have to say about that….

Support your local bank and the United States banking system.

Pay all due taxes as and when advised by the tax advisor of your choice.

Best of luck to all.

Phoenix

[penquin]

Thanks so much Phoenix, this gives us hope. Semper Fi !

[hopeful1]

Thanks Phoenix for your great easy to understand post. Its a great way to start out this week ,with these positive thoughts. Thanks for being part of this great group of people. GO RV

[Mr. Phonics]

Phoenix, himself, posted this article on DV.

[cgbrown]

We've been getting a lot of 'double postings ' today for some reason. Aren't people looking before they post.

[powerpager]

Killer Post P !!!

[eoh1965]

Sorry for that!

[army03]

Maybe eoh1965 needs to stop wearing his/her sunglasses at night

[Unitedrich]

Sorry for that!

Relax!! Don't worry about it. It happens to all of us sometimes.

[Melanie]

Banks are limited to how much foreign currency they can hold and anything over that limit is sent to the U.S. Treasury or exchanged to other banks.

From what I understand when the revaluation of the Iraqi Dinar takes place the banks will have a time limit under which they must ship all Iraqi Dinar exchanged to the United States Treasury.

The United States Treasury will in turn credit the banks with the proper exchange rate in USD giving the banks a profit.

So the banks exchange the dinar at a slight spread and in turn ship the Iraqi Dinar to the United States Treasury who gives the banks a slightly better exchange rate so within hours or days all Iraqi Dinar accepted at all banks within the United States will be shipped to the United States Treasury which will give all banks who exchange a huge profit.

What happens next with all of the Iraqi Dinar is something that is between the United States Treasury and the Central Bank of Iraq....which is none of our bees wax.

So every Iraqi Dinar exchanged by every bank in the United States will turn into pure proffit for all of the banks in a very short amount of time.

For all of the US banks doing the exchange the Iraqi Dinar exchange equals nothing short of quick easy money.

Phoenix

Thankyou again Phoenix for your good responsed to me.

Mel

[Inside Track]

Great post, Phoenix!

After reading your post, and all the replies, and noticing that even Scooter recogizes the value of your assessment, I come to the conclusion that the October Surprise is already taking place. In my opinion, we will see a new page full of great news that will be like a soothing balm to heal the deep wounds of a long waiting time.

So many people have made a contribution to this forum... and so many of us have had the benefit of outstanding men and women that have spent their time to help us in our understanding of the new developments. I thank God for being a member of this chatroom, and for the opportunity to express my gratitude for so many new friends I have encountered in this special endeavor.

Great job, Phoenix. Go, RV! Our hearts, minds and arms are wide open to receive you! Go, Go RV!

- Barboza

Makes Me Wonna Shout!

[getrdone]

First of all, Thank you phoenix for your input. It is greatly appreciated by many of us on this site. I have a question as to the quote of supporting your local bank. Is this saying for us to consider other options than Dinar Trade, (who is thought to give a fair, competitive rate) or Is that just a support the good old USA type of comment, which I have NO problem with at all. Getrdone, RV!

[Kr3W]

getrdone please don't Quote the OP (original poster) it's unneeded and wastes a LOT of space in a forum when you do so especially in such a large topic.

[Melanie]

When they give the RV price, and then the redenomination along with the 30-90 days(?however long) to exchange our dinar, what are the possibilities of the RV flucuating it's price? I looked through this thread again, and didn't set that question asked.

Thanks,

Mel