Hi Everyone,Guten Tag Dinarians. Meine Familie is doing well today as I wish yours is too. Today I decided it was time to begin some cooking lessons for Meinen Kinder. So we got out the aprons and began. By the way we also decided to get Meinen Hubby involved since Meinen Kinder are now better cooks than he. These lessons can be fun since the whole familie is participating but they can also be messy since pans overflow and counters get sticky. What I have learned is that new cooks often do not appreciate the need to slowly cook their foods to let the flavors savor together. Somethings are just now meant to be rushed. Do you know what I mean?
I come today to give an update on situation of Iraq currency revaluation. Over the last couple days I have talked to many contacts inside Iraq and in IMF and so there ist sehr gut information to share. I am also listening to many perspectives as to how close we are and what has just taken place in USA and so I will address these topics too. If you are reading this letter and just expect a quick date and/or a rate, I will say once again- MY INFORMATION SOURCE IS NOT FOR YOU.
Again there is much hype and almost madness the last couple days about this topic of imminent revaluation and GCR and there should be since we are that close. But let us take this a few logical steps closer and see that it can in fact happen any day now but not everyday. There is in fact no mysterious person or event holding this up. The fact that intel providers keep telling you this is the primary reasons for your frustrations and stress. If this is in fact what you do chose to believe than you can go right ahead and believe it but I have to tell you it is not a nice way to live. What I want to tell you in this letter is not easy since it is not so black and white as most believe of this RV process. However I will try. I hope it all makes sense.
In my last letter I stated there was a very good window of revaluation announcement happening between last Thursday to Sunday (today). Again from all the news I am hearing the next window is once again from next Thursday to Sunday. I do not believe that we will see any changes until this next window if we do not see this happen today (Sunday Nov 3rd). There are very good reasons why I am stating this new window but this information would not make any sense anyway to most so I will forgo any detailed explanation at this time. You will see my meaning at a date in the very near future. As you know I always come back in future letters and explain what has taken place and why. Just that in the moment sometimes it is not practical since the information can be sensitive (and sometimes almost unbelievable!).
Last week’s meetings in DC
Let me clarify first that the meetings between the prime minister of Iraq (and other dignitaries) and US president Obama (and other dignitaries) held last week in DC had nothing and I mean absolutely nothing to do with the revaluation of the IQD or the GCR. First let me say that as usual there were agendas by both parties. My contacts in Iraq explicitly stated to me of a news briefing that took place in Baghdad including comments made by Nori Al Maliki prior to his departure to the USA. The news reported that his mission on attending meetings in DC was at the request of the US presidential office in order to discuss security issues and to gain assistance and aid from the USA in this matter. What Maliki was actually hoping for was to gain enough confidence from USA so as to complete the arms deal with USA for the promised F16 fighters and other military equipment agreed to years ago. He also wanted to show his people that he was still in charge, trusted and supported by the US government on international matters of Iraq. As we all should know by now another term as prime minister or getting these arms will never happen since he has proven himself time and time again unworthy of any real trust as a leader.
So this past week there were the usual cocktail parties and dinners given to dignitaries but nothing out of the ordinary for us and certainly no grand announcements made out of the ordinary about the financial structure of Iraq, the revaluation of its currency or the global reset. It is just amazing how many want this RV so bad that they can literally conjure up stories to suit their purposes. So please let me put these rumors to rest. These meeting were not about our currency investments.
President Obama, on the other hand, had his good reasons for inviting the Iraq delegation to DC. His primary purpose was to secure an updated Status Of Forces Agreement (SOFA) from the 2008 agreement going forward so US troops have the legal protections and immunities they need in their new missions in the area. There are also provisions as to the future role the US military can and will play in the country of Iraq. Remember the Syrian and Iranian issues are not yet dead. Issues pertaining to use of chemical weapons in Syria were also discussed and the role Iraq might play in the disposal of the NBC material from the September UN mandate on this topic. There was also a short meeting with president GW Bush, PM Maliki and President Obama. I can only imagine the agenda but it was brief and I would believe it had to do with some past agreements between the US and Iraq that have not yet been honored and are way overdue. GW Bush may have had to remind Maliki in the presence of Obama. I wonder what these agreements are about?
Why do we still wait for the RV?
As I have stated in my last letter it does not surprise me for one second some monkey business once again is taking place over the last couple years on this topic. This mess began in the planning to use the IQD as the base currency for the GCR process. With the advent of the internet and cell phone technologies it is hard to control the flow of information. Times have changed and it is harder and harder to hide information. Since the longer they waited to do this event the more publicized is has become. I think now perhaps they are in damage control mode and just attempting to lessen the damage and now complete this process. Do not be so shocked about the nondisclosure agreement (NDA) you will have to sign. It is now part of this process to silence or tone down those who will partake in the rewards of this financial rewards. Remember I have also stated in my past letters that the US government decided not to fund the war by doing a massive US Bond drive. Instead they schemed the plan to use Exec Order 13303 to which in part allows average US citizens private ownership of the Iraq currency. This was important since at the time of this act Iraq was on the terrorist list and procession of its currency was illegal. So this still is the plan to be used to pay for the war in Iraq and we are the so-called investors who supported this plan. We can be proud of ourselves since we have been instrumental in helping millions of Iraq citizens survive the aftermath of the war and to help that country build up their CBI reserves for reconstruction. All they truly need now is to revalue the provisional currency and have the leadership going forward to use their new wealth in a meaningful manner for society. Remember the next 10 year reconstruction plan (that began November 1) is now underway. What will the next 10 years bring for Iraq?
Tidbits about Exec Order 13303 extension
http://www.whitehouse.gov/the-
So just how long can they keep the new rate from us?
We know for a fact that there have been at least 3 differing rates already loaded on the SMART Cards. People are spending money in Iraq as goods, services, pension funds, ration programs and other..
: So just how long can they keep the new rate from us?
We know for a fact that there have been at least 3 differing rates already loaded on the SMART Cards. People are spending money in Iraq as goods, services, pension funds, ration programs and other long awaited monies. But still the best is yet to come. They are using this money now but only in country. Each of these rates are well above the existing official currency rate of 1166 as they coincide with agreed upon rates for the various programs to which the money has been allocated. For example the HCL law allows for payments at a rate of $1.17, pensions funds at .96 and certain contractor work at $3.44. We can also see that the UN article 8 provisions are satisfied except for the allowance and ease of capital flow between countries with Iraq. This can not be fully accomplished as needed by the IMF under this article unless the IQD currency is brought back from the provisional currency status of pre 2003 (as by sanctions under chapter 7) to an international status. Some say this has in part already taken place and I would agree in part but they need full international recognition to allow investors, market players and exchanges to flow freely. This is what must eventually take place and very soon. I believe they are at the brink of accomplishing this. I have felt this way for months now and I am standing firm that we are yet today even closer than ever from the news of my contacts.
Now once again I do want to say something and I want everyone to listen and realize (please) what is going on in Iraq. I have tried to explain it many times with many emails and letters but some still do not fully understand. The revaluation of the Iraq dinar is a process. It is a long drawn out process. If you know the process you can follow it and see the progress being made. I will admit I know the process very well but at times even I slip up in the application of it since my mind does not want to grasp the idea that it can take so darn long and they are sooo slow in doing anything in Iraq. When Dr Shabibi was acting governor of the CBI he stated many times that the introduction of the lower denominations would be gradual and slowly phased into the economy. So why do we not hesitate to dispute the sudden introduction of new currency in USA but do not apply the same logic to the Iraq new currency? I have proof that the lower denoms first began being slowing introduced and showing up in the banks for usage back in April of this year and have increasingly become more circulated. Today, 6 months later, we know that almost every providence in Iraq now has the lower denoms and they are now allowed to circulate them (as in use them in transactions). As people use their SMART cards with the existing monies loaded they are now allowed to carry the lower denoms in their pockets in excess from ATM withdrawals and bank transactions. In the past there were 2 different price tags at the markets. One tag for IQD price and the other for USD price. Prices today now have been adjusted and it is becoming more and more common in the markets that the USD price tags are now slowly going away. In some stores citizens now see only the new IQD prices on signs. This may seem like a trivial item but for me it was huge news today. This is really good news for all of us.
They can do this since in their eyes, these already hold an increased value from whatever rate they were paid on their cards. Think about this for a few minutes. If this were not the case then how would they get any value out of the goods they are now buying and how could they use the lower denoms? We are now witnessing the final stages of the rolling out of the lower denoms. The finance ministry has also announced that November 1st was the last day allowed to turn in any of the old provisional currency notes (3 zero notes). What does this tell us? This all speaks to us RV, RV, RV...RV !!!! The news from Iraq could not get any better. Please do not tell me ever that this RV has nothing to do with Iraq !
I fully believe that this RV is going to be like a pan of rice coming to a boil. This is one of the dishes I showed my family how to cook today and it made sense to use it now as a comparison. When you cook rice you should always start off with cold water. Turn the heat up and let the rice slowly cook. As it cooks, all of a sudden the starches in the rice will pop (like the currency rates will get activated) as the starch in the rice all of a sudden comes to a certain temperature, it will foam up and overflow the rim of the pan (as will we and with our new wealth) if you are not watching it. As it does this it will make a huge mess if you do not watch it and be careful. You can monitor the heat and adjust it so it will not overflow but you must be vigilant. The CBI has tools too that they have been using to monitor this currency RV process. If they are not careful they can ruin the process and it may take yet even longer to make the needed corrections. From what I heard this weekend this is just what did happen twice already. Just like if you turn the heat up on the rice too much the meal spoils. At times when they could have turned the heat up a bit more to quicken the process the government of Iraq stepped in and slowed the process. But eventually the meal will get cooked just as the country of Iraq will have to force out the new rate to the world. What I have heard about Dr Shabibi is that he was frustrated as governor of the CBI and left Iraq only to consult since the process could not be controlled as needed with constant interference for the government of Iraq in its controls and implementation of this process.
So if you truly want to know what is now holding up the RV I will tell you....ABSOLUTELY NOTHING !
Hopes this helps everyone.
Peace and Luv to ya
mnt goat
