Q & A
I need to address a concern by one of my readers about the process of the RV/Reinstatement I posted in one of my recent Newsletters. Others may be thinking the same but are afraid to speak up and share their concerns.
Question: Gavin
This is exciting WOW news…. Thank you!!!
My concerns are with Points #2 & #3 of the RV process.
Point #2 says, “There will be a deadline to turn them in and then they will be null and void in Iraq afterwards so they citizens must turn them in within the deadline or lose out”
Point #3 says, “where the citizens turn in their 3 zero notes in exchange for the newer lower denominations. This can only be done at special bank windows now being set up for this process in Iraq.”
Sorry if you have to repeat yourself but how can non-Iraqi citizen investors be assured that we won’t be barred from exchanging the currency notes we currently hold? The Iraqi people will be required to exchange their notes for the new lower denomination within a certain period of time or the notes will become worthless. What if this deadline passes and the CBI hasn’t allow us foreign currency holders to exchange our 3 zero notes? Can we be stuck with worthless notes?
Lastly, I’ve read that some citizens have been paid HCL funds. Is this true?
Thank you
Answer Mnt Goat:
Read my lips on #2 of the process….we are not in Iraq are we? I am referring to an official process of the CBI not from some intel guru. Stop the FEAR mongering and relax. About #3 Outside of Iraqi, like for example in the US, we also will have a cutoff date to exchange these 3 zero notes. After this date they will still be legal tender but much harder to find a bank willing to take them. Get it? They will also technically be legal tender in Iraq too after their cutoff date but as I said the Iraqi banks won’t take them either after a cutoff because of one reason. What are they going to do with them if the CBI no longer will buy them from them? Oh.,..they can smuggle them out of the country and exchange them. But like I just told you – how long will this last until the banks stop taking them since the US Treasury will no longer want them either. The key point is banks will no longer want these notes over time (yes, I said “over time”). As I said before bottom line is to get to the banks as soon as you see a rate you like but be careful and don’t wait too long.
Should I hold on the 3 zero notes for the future investment for my kids and their college education or other estate assets:
Obviously as I state in my For the life of me I can not see the logic of some people. Obviously, as I state in my disclaimer, I will not advise you to do anything with these 3 zero notes. But I will tell you what I am going to, if you want to listen. These people thinking this way do not see what this investment really is and the BIG picture. For reasons I will be running to the bank almost as fast as I can once the new rate is on FOREX and when I think it’s a reasonable enough rate.
These reasons are as follows:
1.It is a short-term process to exchange these notes and thus the US Treasury wants to collect them for the CBI and turn them in to get them out of circulation. Get it? Thus the thinking about using these like long-term Bond or a Stock is NOT a good idea as for long-term growth for your kids college fund is not a reasonable thing to do. You should know better by now to even this way. This only shows your lack of understanding this investment. Sorry…I had to say it! 😊
2.Banks will soon not want to exchange these notes in the future after our exchange period has ended as they will be taken out of circulation, get it? It will be harder and harder as time goes on to find a bank wanting to exchange them.
3.I have been waiting so long for this RV and have plans to use the funds to better my life NOW not years down the road. Also, I want to help those less fortunate than I. I think my hubby would kill me (lol..lol..) if I was not thinking this way.
4.Why not instead exchange the dinars and take the cash in US dollars and put it into other more sound, long term investments like perhaps an Annuity for your child’s education, or later marriage or other of life’s events?
Question from carolyncoffen: Good evening, Mtn Goat,
Thank you for all your hard and dedicated work in bringing us the most up to date news regarding our RV. So just to make sure I understand the oil contract agreement, we can buy up to 20 million dinar for the contracts and turn around and exchange them for $28.50 per dinar? Am I correct in my thinking. Please do not put me down and try to humiliate me like you have in the past for asking a ‘I don’t understand’ question.
Answer Mnt Goat: How are you Carolyn. I am glad you appreciate all my hard work to get the FACTS and TRUTH out to the dinar investment community. All my answers are with the utmost respect to all who ask them and I am here to clarify. No question is a dumb question. But sometimes I covered the topic over and over again yet people don’t want to read my blog and skip over it, then come back later. Others also get confused since they listen to the nonsense of these numerous intel gurus out there. You have to understand my frustrations too. So, I will affirm to you and others reading this today, once again, that 20 million in dinar is the limit of dinar you will be able to exchange with the banks for the US Treasury program with China oil credits if you so chose to do so. This limit used to be more and but was changed since they wanted more people to share in this $28.50 rate per dinar. It is that simple. I hope I helped you?
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So, on Wednesday I had a conversation with my CBI contact in Iraq. These calls are made possible by your generous GIFTS, just so you know. I was told there was absolutely NO, citizens in Iraq receiving any kind of government program to distribute oil wealth directly to the people. Like a social payout. I was reminded once again that the Iraqi constitution states the “excess” oil revenues will be distributed to the people and so rebuilding the country of Iraq is within the budget money as part of this distribution. Currently there is no other excess oil revenues being paid out as long as the GOI cannot fund these projects directly and must go the CBI for dollars out of the reserves. They need to transition the Customs and Tarriff projects underway and so this will overlap with the oil revenues SOMEDAY and thus allow a stipend to be paid out to the citizens. But they are not yet there.
I was also told the real reason why the GOI, under prime minister al-Sudani has not directed full funding distribution for all the projects listed in the budget. It was for multiple reasons: 1.to first continue to clean up more of the corruption in the provinces; 2.hold back the dollars in the reserves as long as possible needed to back any reinstatement process and global rating for the dinar.
I also asked about the project to delete the zeros and was told it is coming and is now an active project no longer just a later project. I asked for some target dates and was given that they planned to redenominate sometime prior to the end of the year. To me this is so inline what we are thinking for a January 2024 reinstatement timeframe and other events also lining up.
I was also told not to over-speculate on the RV and the CBI has a plan and is actively working on it. The CBI can not put the cart before the horse and needs the support of the GOI for all the monetary reform. They feel that Al-Sudani is definitely onboard with the details of this effort and “fully” supports the plan and what the CBI is doing in this regards. They also told me the re-education news (program) is about to come out. Stay tuned….
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