STATUS OF THE RV
I hope everyone is having a wonderful new year so far. There is much prosperity and abundance coming our way this new year. Let’s all just be patient and stay calm. Remember what the prophets told us. They said the prosperity we have been praying for will come when, and only when, there is a significant sign of the end of the corruption in the government. We should all be adults and smart enough to know that we don’t think God meant absolute but that our constitutional rights will be secured once again and God will come back to our nation in a BIG way. This is when the physical wealth will flow too.
All I can say is WOW, WOW and WOW again with news that came out this period. There are articles in the Newsletter from Iraq today that back up what my CBI contact just told me on my last call to Iraq on Wednesday. WOW! WOW! WOW! I can hardly believe I am getting the news before it even goes to print. WOW! But most importantly it is what was said in my conversations, and it proves once again the reason we did not see the Project to Delete the Zeros in December, as was planned to be rolled out then. So, we know now the reason for the delay.
I quote from the recent article – “The Parliamentary Finance Committee expected a decline in the dollar exchange rate in the parallel market during the next few days.” Okay, so I know that they have told us in the next few days and it never seems to be days but weeks ad sometimes even months..lol..lol..lol 😊. But at least we know now it is very soon. When we read “in the coming days” or “during the next few days” just put in its place “very soon” and you will get it right…lol..lol..lol.. Don’t over speculate and relax.
But that is not all and I want to quote what the rest of the article said – “ the exchange rates of the dollar in the parallel market will continue to decline, especially with the availability of cash in the dollar after foreign currency import operations.” He added: “We expect that the first months of the current new year will witness the arrival of the dollar in the parallel market to the official price, and this is what the government and the Central Bank of Iraq are working on, and there are measures that will strengthen this matter during the next stage.”
So you see the phrase during the next few days actually means during the next few months in this case. But this is still all very, very good WOW news.
So, what is the “next stage” they are referring to?
Some can speculate and even make up lies but I believe my readers all know what it is as my CBI contact is keeping us informed. I find it funny how this TNT Tony guy will not admit he reads my blog however in one of his last conference calls he almost quoted exactly from my Newsletter. I don’t mind sharing honest and truthful information as long as it’s not all hyped up or turned inside out with exaggerations which is what TNT is all about.
Yes, and this is yet more good news. Oh…so much good news today! In another article we read the expectation that the parallel market rate may reach 135,000 even this week and stabilize in the next few months. But remember I am telling you my CBI contact told me it will not be instantaneous to flip to one more official rate change closer to 1000 when this stability is realized as they will monitor for a period first. How long will this take? We just don’t know but these large swings in the parallel market must first end. I quote from today’s article – “The financial advisor to the Prime Minister, Mazhar Muhammad Saleh, confirmed today, Saturday, that the dollar exchange rate will reach 135 thousand dinars for every 100 dollars soon in the local markets.” Saleh is a guy we can trust more than any other with good news.
Yet there is more! In another article in today’s news, we see that there is already a plan being laid out to phase out the electronic platform. WOW, WOW, WOW! I quote from the article – “The Central Bank of Iraq revealed, on Friday, measures and decisions expected to support the dinar and maintain its strength against other currencies, and other measures that will positively affect the exchange rate, while noting that it has taken measures in the field of phasing out the electronic platform.”
So, although the news may not be exactly what we all want to hear, like an RV has happened, we can clearly see that the CBI is moving in the right direction. We are still in early January and so anything can still progress. But even it does not, and probably will not until a few months, we can see the writing is on the wall. The CBI stalled in the process of currency reform until they can get the parallel market rate down closer, if not matching the official CBI rate. I have been told this twice already by my CBI contact. I don’t know where many of these intel gurus get off telling you a different story of an RV every weekend. I don’t know who is telling them their lies or do they just make up their intel?
The CBI must prove that they can manage and control the rate. It must be stable! I can remember going back as far as 2016 when the IMF told the CBI one condition is STABILITY to be able to manage the program rate of the dinar. I know, I know we all hate these delays but that is a fact of life and so we all should know by now Iraq is slow in everything. Remember the phrase “the best laid plans of mice and men” is a proverb that expresses the idea that even the most careful and detailed plans can fail due to unforeseen events or factors. So be patient and relax.
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