Mnt Goat
The electronic systems are taking hold...This will allow the shrinkage/withdrawal of the tangible currency notes from the market that is needed in the process to Delete the Zeros...a critical part of it...I can remember hearing as far back as 2010 from Dr Shabibi the importance of the electronic banking effort and its advantages to the process. Yes, they MUST shrink down the currency mass...if you shrink down the monetary mass than what is left will be worth more.
As June is rolling on…. We have waited for this month for a long time to come. This month I believe is going to be a critical month for us investors...I had a very interesting conversation...call to Iraq. I was told by the committee that all is geared up for the Project to Delete the Zeros...I was told that if they can retain the stability between the Parallel Market rate and the Official CBI rate of the dollar that we could see the next “official” rate change that we have been waiting for some time in JUNE...WOW! ...Nothing is certain on any dates because it is all dependent on the market and what it brings. They cannot predict this. But...my contact in the CBI did sound optimistic and that something BIG could or is about to happen and happen much sooner than later...
This month I believe is going to be a critical month for us investors...
Article: "CENTRAL BANK: THE ISSUANCE OF NEW MONETARY DENOMINATIONS WILL NOT AFFECT THE DINAR EXCHANGE RATE” I would consider this “WOW!” news.
Quote: "... the issuance of new cash denominations, large or small, will not affect the dinar exchange rate." If the CBI drops the zeros (project to delete the zeros) the rate of the dinar will remain the same in-country of Iraq. It only changes when the reinstatement back to FOREX occurs...the value is already in the dinar... only the rate, right now, does not reflect the true rate...
Why...on May 27th did the CBI make this announcement about the issuance of newer lower denominations? Could they be heading into June for the redenomination of the three zero notes?
Article quote: “The budget is not affected by the rise or decline in dollar exchange rates, because Iraq will receive the dollar from the export of oil, and on the contrary, revenues increase as dollar prices increase globally,”
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