Mnt Goat
This gets more and more exciting with each call to Iraq [with CBI contact]. So, we know from past conversations that Iraq wants and needs to continue the process of the financial reform plan, of which the currency reform is a part of and a VERY high priority.
Oh my gosh!!! I truly can hardly believe all the good news coming from Iraq this period. Maybe it's not the RV, as of yet, but I can assure you it is coming and there is no stopping it. It is like a loaded freight train coming fast down the tracks.
The [CBI] contact...told me thatthe rate is going to change very soon but not backwards only forwards, meaning to go up in value and not down. I was also told that as an investor we will like the final rate.
Again, it was emphasized to me that there would first be an in-country rate (close to USD 1 to IQD 1) during the swap-out in Iraq of the three zero notes and then later a new rate once the dinar is liberated back to the foreign currency exchanges and re-pegged. At this point the in-country rate goes away. There will NEVER be two rates...They wanted to make this point very clear to me that this is the process. When the in-country rate comes out there is little we, as investors, can do to exchange and our turn-out will come later, if we so choose to give up our dinars.