"STATUS OF RV" BY DINAR IRAQ & DONG VIETNAM, 7 JULY

 I got news for you, Saddam Hussien traded in the Iraq dinar ONLY not the dollar. So just like I said, if you go long enough on the dollar the countries will get used to it and won’t want to go back to their own national currency. It has been way too long already. We now see this happening. But I think this deal will have to work out or else. 

This is GREAT news. We heard about this plan almost 6 months ago. Haven’t they done it already? Sanctions make trade illegal in the dollar anyway but how was Iraq supposed to trade if not with dollars or the dinar in the past? So thus the corruption of stealing the dollars from Iraq or….did Iraq just let them steal them using these dollars covertly to pay their bills to Iran using the backdoor behind the sanctions.

STATUS OF THE RV

Iraq seems to be at a pause as far as the revaluation of the dinar.

Again it seems the US is holding it back for some reason.

Why? Let’s explore that today, okay?

We are not seeing it on FOREX as the CBI told us would happen.

So, what is going on here?

Could the US Treasury be holding off on the reinstatement until some events are resolved?

Will they ever give us the reinstatement?

S o, the really good news today is to fold.

I am presenting two articles on proposals to establish an alternative economic system to the dollar when dealing in trade with Iran.

Did the Oil and GAS law get passed and why is this still very important.

So, first Baghdad submitted a proposal to the Iranian authorities to establish an alternative economic system to the dollar using the dinar.

Then came the Iranian response and it was very positive.

The Iranian trade advisor added back: “I suggest Iraq that all our financial dealings be with Iraq in dinars, even Turkish shops buy and sell in dinars in this country.

In view of the sanctions, this issue is in Iran’s interest.”

WOW. Just what we need to hear!

I believe this trade with Iran in dinars is going to happen.

We read past articles about using the IQD in all trade with all middle eastern countries so now they are really going to do it, at least it looks that way.

How will the US respond to this idea?

We know that Iraq needs about 200 million US dollars to pay for imports under the sanctions of currency auctions.

Even with the new US Treasury currency auction platform still about 250-275 million per day are authorized.

This is better than the over 500 million being spent previously but still money is being stolen and these dollars show up on the black market and effect the selling prices of the dinar.

With trade in dinars only this will greatly effect everything and possibly even eliminate the currency auctions or cut them so low they will be a trivial matter.

This will take these black market dollars out of circulation and the IQD dinar could rise enormously in-country.

There is a real potential then to get the dinar up to $1 and even over.

I showed you the math on how we calculate the in-country rate.

So using this rate they need to go from 1320 to at least 1000 or less.

Clearly the US should like this idea if it legitimately is trying to help Iraq go forward.

Let’s see what happens… .

So, the second event, as you may guess, is the passing of the Oil and Gas law in the new parliament session which to begin next week July 13th.

I quote from the article today – “the oil and gas law will be put forward during the next legislative term, considering its passage as a solution to all disputes between Baghdad and Erbil”.

But when I looked at parliament’s schedule it didn’t even have this on the agenda so I guess they are still working on the dispute then and these articles are not fully correct.

We know the news media tends to be overly optimistic in Iraq.

There is not much more we can do but relax and let the reinstatement come to us.

Like I said many times already I am scared that we have not heard even an update on the project to delete the zeros.

Normally Ali Al-Alaq is real good at giving periodic updates on this event.

He has been back in the seat of CBI governor now for almost 6 months and still no word.

I am told by my CBI contact that they are still working on it and plan to do it very soon.