"STATUS OF THE RV" BY MNT GOAT, 29 MAY

STATUS OF THE RV

Did you listen carefully to the opening audio dialogue of today’s Newsletter? If not, go back and listen to it. The train is moving faster down the tracks now than ever before. When Iraq is able complete some tasks it allows them to move on to others. Why have I been harping so much on the Financial Reforms? Why do I talk so much about the White Paper? I do because Iraq itself is talking so much about them and the importance of these items. The only question is are you listening to Iraq or some idiot internet jerk you don’t really even know or can trust?

In fact, Iraq has come right and told us this is going to end with the Iraq dinar regaining it’s former strength. Why shouldn’t it when the war is over for 20 years already. Do you think its time? Daaaaaa ….. lol.. lol.. lol.. 😊

In todays Newsletter we read three articles about the CBI official rate equaling the Parallel or Black market rate in the coming days. WOW! WOW! WOW! Saleh, the prime minister’s financial advisor, then goes on to say this will make one dinar equal to one dollar in Iraq. WOW! WOW! WOW! Think about this statement of 1320 as the official rate while 1320 as the parallel market rate. But I do not think Saleh meant literally in his statement as we are thinking as investors waiting for the RV. So, don’t go off half-cocked, not yet!

But this is the step in the direction I was told by my CBI contact months ago to watch for right before the CBI makes one more “official” rate change closer to 1000 from 1320. When will they make this next move?

If you take 1000, just saying, and delete the three zeros 1000 what do you have? Of course, you have a situation of 1 dinar equals 1 dollar. Do you see now how they will back into the new rate as the project of deleting the zeros is implemented? But I believe that when they CBI does make this next official rate change it will move closer to 1166 and not 1000 which would make 1 dinar = 1.16 dollars just over a dollar to help the banks retrieve these dollars hoarded outside of the banks.

So, here we are again waiting for the CBI’s next move. Let’s sit tight and watch this play out. Folks I don’t think this is going to wait until next January now that they told us they have the parallel market rate equal to the official rate in the “coming days”. But let us also be real and know the meaning of the phrase “in coming days” which is subjective and could mean any time period as it really means from Arabic to English the word “soon” and I believe this is what they really meant. The month of June we know is going to be significant too as they told us the electronic platform, installed in January 2023, is going to be stopped. The success of being able to run the foreign payments of imports successfully (without corruption) is the dependency I believe we must see without the platform in place and will be the determining factor as to whether they push for the project to delete the zeros sooner rather than later. Either way we might have to wait longer if hiccups occur when they turn off the platform.

We must also remember too what they tell us in the past news. They told us they plan to end the currency auctions altogether at the end of 2024 as to slowly phase them out gradually as we progress through 2024. What does this mean?

I believe that this can only mean a couple things.  Let me explain.

1.The payments of goods and services outside Iraq will be using a variety of foreign currencies and no longer just the US dollars. The dinar too will be widely accepted by other countries starting with middle eastern countries and then fanning out to other global countries. The demand for the dinar will rise gradually as we progress through 2024. How can this happen without some sort of rate change?

2.Any US dollars still needed to pay for foreign imports will come from the banking sector, not from the CBI reserves, just as banks around the world operate for international trade. The “sanctioned” process of only using dollars and funding them from the CBI reserves will entirely end. Remember what a country’s reserves are. They are funds to be used in time of economic downturns. The IMF requires at least 3 months of reserves. The amount varies by country. Iraq has years of reserves stashed in liquid dollars and gold. This is why Iraq had to protect its reserves and “reserve” them for emergency situations and get out of the war mode of using the reserves for everyday business.

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