STATUS OF THE RV
If you remember a couple months ago, at just about this timeframe, the Iraqi economist Yasser Al-Mutawali asked the question to the Finance Ministry and to the general public – “Is It Time To Remove The Zeros” ?
So, another month has passed and we still didn’t see this project executed. But should we? We have been since told by my CBI contact on the committee that we should expect to see the ramped-up Project to Delete the Zeros sometime soon after the U.S. election period is over sometime in November. This period of time through December will begin the process for the swap out with the newer lower denominations. To me this also means about a 1:1 at par rate of the IQD with the US dollar. But remember this is IN-COUNTRY only. Also remember these actions ALWAYS have dependencies. Nothing is a guarantee! I want to make this VERY CLEAR to you today.
So what did we learn October about the Project to Delete the Zeros? We learned that the media is constantly broadcasting commercials about how the swap out will work. I even should you a couple of these videos. Remember?
Then the news media from Iraq tells us about the “cash center” that recently opened in Karkh. It is used solely for the intake of the three zero dinar notes or dollars. Folks they are already sucking in the three zero notes. What more do you want? It’s mid-October already just 14 days to the US elections. With the electronic banking and the reorganization of the banks, the citizens seem to have regained confidence in their banking system.
The reason why they had to open this new cash only center, according to my CBI contact, is that there was a huge response to ditch these three zero notes before they may become obsoleted and the lower notes replace them. Citizens remember what happened in 2004, when they had to turn in their Saddam Hussien notes by a deadline. Many people got stuck with these notes, as they forgot or did not trust the banks. They lost millions when the deadline came and they were obsoleted/voided. The CBI has not yet announced a deadline but still the citizens remember what happened back 20 years ago. So in reality, unofficially, the process of deleting the zeros has already begun. Yes, it is underway according to my CBI contact.
Just so you know, this is all not just some stupid, silly guru intel talk.
Once again, the Project to Delete the Zeros raises its head up in many new articles in October too. But why is this? Is it close at hand? But also remember the past. I know from experience from many of my conversations with my CBI contact that they pivot on goals, set them and then move in that direction. Often, they underestimate the timeframes needed to get there. They have to get there first and hope for the best.
So today is the third week of the month and as usual I want to give a short summary of the progress of Iraq has made this period. I also like to call them benchmarks, accomplishments or maybe even a recap. What are these major accomplishments we should have paid attention to? Did you read the articles and listen to my Newsletters this month so far? If you missed any you can still read them here in the archive LINK. It’s not too late.
So, let me now list them and summarize them for you below. But first I have presented a very current article below from the CBI information on the strategies they have developed and have been using for these reforms. Do not take this article lightly. It is jam packed with information. Yes, there are strategic plans to get them where they want to go.
TO BE CONTINUED
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