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Friend from Iraq on Skype


harrysmug
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Posted Today, 03:58 PM

Hey everyone! I just had another update conversation with my buddy in Iraq. For those of you who never have read my posts, my friend is an Iraqi citizen who also worked as an interpreter for the US Government during the war in Iraq. Him and I try to speak at least once a week and its nice to receive information on what is happening in Iraq. Today we just spoke and he again reiterated the fact that the removal of three zeros was indeed all over the news a few days ago. He said that now people know that there is new currency in lower denoms (his guess was 25,10,5,1, and also some coins) that were printed a few years ago. He still is unsure of why they are doing this process of the removal of the three zeros in such a time where people need basic necessities such as clean water and electricity. His guess was that the process has begun and will not fully reach its potential till next year(Again it is HIS OPINION). He says the dinar will obviously gain in value but Iraq needs to produce more oil and export it. The country needs to be able to back such a change and revaluation. He feels that Iraq is not ready at this time but will in the future (I think opposite and believe we are right there folks). Also he believes that the GOI is fully formed and the ministers that we are all waiting for are basically already in place, but have not been officially voted on. The reason for this is that Maliki wants to control the whole GOI and does not like the selections made by his counterpart Allawi and this is why there is a hold up. Again, he feels all the ministry positions are filled but are waiting for them to be fully announced.

What did I get out of this?

-new lower denoms have been there for quite some time as their news told the people.

-GOI is basically formed but needs to be a formal vote.

-The removal of the three zeros is ready to go.

-RV baby in my opinion very soon.

He said that once he sees a new Iraqi dinar

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Love to hear from true people in Iraq. Thanks

Posted Today, 03:58 PM

Hey everyone! I just had another update conversation with my buddy in Iraq. For those of you who never have read my posts, my friend is an Iraqi citizen who also worked as an interpreter for the US Government during the war in Iraq. Him and I try to speak at least once a week and its nice to receive information on what is happening in Iraq. Today we just spoke and he again reiterated the fact that the removal of three zeros was indeed all over the news a few days ago. He said that now people know that there is new currency in lower denoms (his guess was 25,10,5,1, and also some coins) that were printed a few years ago. He still is unsure of why they are doing this process of the removal of the three zeros in such a time where people need basic necessities such as clean water and electricity. His guess was that the process has begun and will not fully reach its potential till next year(Again it is HIS OPINION). He says the dinar will obviously gain in value but Iraq needs to produce more oil and export it. The country needs to be able to back such a change and revaluation. He feels that Iraq is not ready at this time but will in the future (I think opposite and believe we are right there folks). Also he believes that the GOI is fully formed and the ministers that we are all waiting for are basically already in place, but have not been officially voted on. The reason for this is that Maliki wants to control the whole GOI and does not like the selections made by his counterpart Allawi and this is why there is a hold up. Again, he feels all the ministry positions are filled but are waiting for them to be fully announced.

What did I get out of this?

-new lower denoms have been there for quite some time as their news told the people.

-GOI is basically formed but needs to be a formal vote.

-The removal of the three zeros is ready to go.

-RV baby in my opinion very soon.

He said that once he sees a new Iraqi dinar

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Wait... Wait... Wait... a minute did something change while I have been gone I seem to have missed how the LOP of 000's is in any shape an RV.... use to the removal of 3 0's was a bad thing for investors but now it is a good thing??? or are we speaking of the front 3 zeros that would move it from 0.00085 to just 0.85 Man have I been out of the loop for a while... I blame facebook LOL biggrin.gif

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So, to put it in plain english, your friend is saying that at this time they cannot afford to have a positive rv of their currency. They basically need to spend any and all assets they have on infrastucture and trying to develop their oil reserves to produce the backing of their currency to pay for all the things they have to have, to do the things they need to do. Once they have achieved liquidity then they may see an evaluation in their currency, and once that is done and they have the assets and productivity to still support it, then and only then will their currency rv in any significant manner. This definitley sounds like if and when, and forever and a day, if it should actually ever come to fruition, but most certainly, no time soon.

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Thank you for the post! Im thinking sooner than later also...not only because I want it to be, but because I truely dont believe the iraqi people can wait! In. requards to the summit, im thinking that Iraq wants to have their house in order beforehand to impress everyone that attends. Just the fact that they spent who knows how much on the big hotel, and everything else shows their intentions to make a big deal out of how far they have come! I dont see them allowing problems in goverment, and letting people use dinar to wipe their rears while in the restroom! We all know thats all its worth right now! Shabs had a very hard time answering questions while in DC earlier today....and he did say "soon"! So who knows...could he go back.to Iraq on Thursday and let this birds fly? I think its a very good possibility! We already know the deal with the zero's is done, so it could very well be the week we have been.waiting on. I personally believe it is, BUT ITS JUST MY OPINION! I tend to trust in Gods timing...and not in mans! With that being said....May God Bless each one of us! He promises a season of Harvest...and of Prosperity! I believe we are seeing His hands at work! For this...and all things...I give Him Praise!

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So, to put it in plain english, your friend is saying that at this time they cannot afford to have a positive rv of their currency. They basically need to spend any and all assets they have on infrastucture and trying to develop their oil reserves to produce the backing of their currency to pay for all the things they have to have, to do the things they need to do. Once they have achieved liquidity then they may see an evaluation in their currency, and once that is done and they have the assets and productivity to still support it, then and only then will their currency rv in any significant manner. This definitley sounds like if and when, and forever and a day, if it should actually ever come to fruition, but most certainly, no time soon.

Thank you for your post...allow me to add this http://oilandgas.einnews.com/news/oil-drilling/iraq?order=date. (Oil news as of todays date) According to the article, Iraq has already allocated how, who, when and where the wells will be. Happy reading.

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