Kaperoni Chat

[Psych]

[kaperoni] Many of you know I have a great friend who I met a few years ago. He is an Arabic translator and has many times interpreted the articles and links I have sent him.

[kaperoni] His contribution to figuring out this information is simply invaluable. His insight has simply again been invaluable to us a team working to achieve the same goal. He has my full trust and I have tremendous respect for his dedication.

[kaperoni] Thank you my friend the Arabic translator!

[kaperoni] Now, in recent days there have been several articles out pertaining to the dinar. Articles that say, in essence, the preparations are done and they are ready to move ahead with the new currency of Iraq…the lower denominations.

[kaperoni] Tonight, I will share the links to these articles and provide insight from my Iraqi translator friend. His translations often pick up information that the standard translator does not such as Google, Bing. etc.

[kaperoni] Here is the first article..

[kaperoni] Central decides to restructure the Iraqi currency

[kaperoni] http://www.microsofttran ··· 47913%2F

[kaperoni] Here are my friend’s views…

[kaperoni] “This article basically states that CBI intends to release a new currency, and that this plan was agreed upon with CBI in conjunction with the IMF as part of Iraq’s plan

[kaperoni] for strategic long-term economic development and that the IMF would continue to support the Iraqi economy.”

[kaperoni] Do you see what he said?

[kaperoni] This is the plan for them to move forward as the IMF is their guidance.

[kaperoni] “The article states that the new denominations will reach up to 100 Dinars.

[kaperoni] This means that the highest bill that will be in circulation will be a 100 Dinar bill.

[kaperoni] The rate must be realistic with that note being the largest.

[kaperoni] There will be other smaller bills, but the article does not specify what they are going to be (if they will be 1, 5, 10, etc). They state that this will help with payments and purchases

[kaperoni] and make those transactions easier for people and for government transactions, such as paying for war reparations. The article also states that this is a change in tune from what was said earlier in the year, when the GOI denied that there

[kaperoni] would be any changes to the currency.”

[kaperoni] Here is the next artricle… Advisor to the Central Bank’s “by the people”: “Structuring currency” includes lifting of the zeroes and the issuance of new categories

[kaperoni] http://translate.googleu ··· 583%2B%2

[kaperoni] From my translator friend…

[kaperoni] “This one also re-states what the previous articles have said and really discusses more of the reasons for the removal of the 3 zeros and the new lower denoms, which are the same

[kaperoni] reasons that we talked about before, such as giving more purchasing power to a smaller amount of notes (instead of big bills with little purchasing power) and facilitating private and government transactions and reducing inflation and

[kaperoni] strengthening the Iraqi economy, etc. “

[kaperoni] Now here is the last one…Pay close attention to this article….Maliki’s meeting of independent bodies

[kaperoni] http://translate.google. ··· 66-.html

[kaperoni] We are going to key in on the bottom paragraphs here, as these are statements from Shabibi himself the head of the CBI….

[kaperoni] “The bottom statement, the one from Shabibi, states that there will be an upcoming change with the Dinar within the next week to no more than 10 days. He says that there

[kaperoni] will be lower denominations in the Dinar, and that he understands that people may be worried about how the new currency will work, but he says that there should be no reason for people to worry about it because it is all really simple mathematical calculations

[kaperoni] and they will quickly learn and get the hang of it. The last part to the statement is not well worded, but from what I understand it is something along the lines of they

[kaperoni] are waiting for a final vote (I assume he is talking about parliament or the council of ministers) and that all the people that were needed for the vote were not present, but they working to get it set up where everyone who needed to be

[kaperoni] present for the vote would be so they could vote and complete the last step needed.”

[kaperoni] Ok, we now have confirmation of the RV window!

[kaperoni] More from my translator friend …

[kaperoni] ” It truly sounds promising to me! As I have mentioned when we’ve talked previously, I wouldn’t be worried about the vote because CBI is independent and they have basically

[kaperoni] made up their mind that they are going to RV and they have printed all of this money obviously if they plan to do it within 7-10 days, so I don’t think they would have gone through all this trouble if they knew that there was a chance that it could

[kaperoni] be blocked or not approved. I truly believe the vote is just a “legal formality” and that CBI is going to get this done either way. “

[kaperoni] “And truly, 7-10 days is just around the corner, which would be the 30th to the beginning of July, and that is the date that we have been watching out for. “

[kaperoni] That is the end of this chat. I believe we now know the window of the RV, and it is in the month of June.

[kaperoni] Kap

[jbird129]

That's the clearest explaination that I've read so far...thanks for posting this.

[dogtrainer55]

Thanks kaperoni!

Thanks kaperoni!

[turbulent44]

Thank you Psych for bringing this to us. Very clear.

[dinars4me2]

Can someone please explain to me if I am understanding all this correctly:

This explains that the new currency that will be introduced will be 100 denoms or less. So, sounds like if you have anything higher, you will have to exchange and replace with their new smaller denoms or cash out. Not sure what the rate will be, but my guess is that it will remain the same as it is now, and then slowly they will increase (RV) it (maybe after the deadline to cash in or turn in your larger denoms) and eventually, the rate will be close to the pre-Iraqi war rate of $3.22. If they put a time limit to turn in/cash out our larger denoms, then we might be screwed, but if not (make our larger denoms co-exist with the smaller denoms, but same rate) then we can simply hold onto our larger denoms until they gradually increase the rate. One way or the other, they are definitely phasing out the larger denoms; how it all plays out, will be anyone's guess. Let's hope for the best...I have a feeling we won't be waiting much longer to find out...

Edited June 24, 2011 by Bumper64

[whodat1]

Hurry everyone, run out and buy more dinar.

[mkelly]

Vey clear and concise explanation of what we all have anticipated. Thanks to you and your translator. Let's get er done!!

[Psych]

Kaperoni is from the GET team...I think. They are generally rate and date folks and have a not so great rep here at DV...but it was good chat and the best synthesis/interpretation on a very confusing string of news articles out of Iraq...his interpretation is as good as any I'd seen...and corresponds to the general understanding of this investment.

[jupitergirl]

Kaperoni is NOT part of the g.e.t. team.....he did do a q ad a with there members once.....that is it.......

[redsand]

Kaperoni is one of the more reserved people on that team in my opinion. So for a more reserved player goes out of the way to explain something...I WILL LISTEN

[UofIGuy]

Hurry everyone, run out and buy more dinar.

Do you think you're funny?

Kaperoni is from the GET team...I think. They are generally rate and date folks and have a not so great rep here at DV...but it was good chat and the best synthesis/interpretation on a very confusing string of news articles out of Iraq...his interpretation is as good as any I'd seen...and corresponds to the general understanding of this investment.

Psych...good effort, but wrong analysis. Kappy is a good friend of mine and NOT part of the GET team. Kappy has a very level-headed approach to this investment and will not lead anyone astray - intentionally. He is and will forever be an honest and good man.

Edited June 24, 2011 by UofIGuy

[frankc]

M needs to get control of his Parliament members.

[Psych]

i stand corrected...thanks.

[wookie]

There are no links to this person's supposed articles. All that comes up are various translation links.

[Liljohn]

Great post, very informative. By the way Kap has never been a part of GET team. Please understand this is a good honest person.

GOD BLESS!!! LORD SEND THE RAIN!!!

[eaglefan]

Can someone please explain to me if I am understanding all this correctly:

This explains that the new currency that will be introduced will be 100 denoms or less. So, sounds like if you have anything higher, you will have to exchange and replace with their new smaller denoms or cash out. Not sure what the rate will be, but my guess is that it will remain the same as it is now, and then slowly they will increase (RV) it (maybe after the deadline to cash in or turn in your larger denoms) and eventually, the rate will be close to the pre-Iraqi war rate of $3.22. If they put a time limit to turn in/cash out our larger denoms, then we might be screwed, but if not (make our larger denoms co-exist with the smaller denoms, but same rate) then we can simply hold onto our larger denoms until they gradually increase the rate. One way or the other, they are definitely phasing out the larger denoms; how it all plays out, will be anyone's guess. Let's hope for the best...I have a feeling we won't be waiting much longer to find out...

They would have to RV first or at the same time as they bring out the lower denoms or the lower denoms would be worthless.

[Dianne]

Great post! I always love reading posts from Kaperoni!