STATUS OF THE RV
I need all my blog followers to be VERY patient in waiting for the reinstatement of the Iraqi dinar. I know, I know it has been a decade or more for many of you and you are frustrated. But think of how the citizens in Iraq feel. Please don’t let this Christmas dream die because you are discouraged. My contact tells me its right in the wings waiting for the ‘go ahead”.
We must pray and pray very hard that the new process with correspondent banks is success as this is the nail in the proverbial coffin for the parallel black market.
To get a very good summary and update of what has been happening in this regard of the upcoming changes, please take a look at the recent articles in today’s Newsletter. This news is nothing new to us. We read dozens of articles already explaining these changes to us. So why do they keep emphasizing it over and over again? Could it be part of the education to inform the citizens of the upcoming changes?
😊They are titled and found in the Newsletter articles section:
“CENTRAL BANK GOVERNOR: OPENING EXTERNAL CHANNELS WITH FOREIGN CURRENCIES ELIMINATES THE BLACK MARKET” and
“PARLIAMENTARY COMMITTEE: GOVERNMENT WORKING TO REDUCE GAP BETWEEN PARALLEL AND OFFICIAL EXCHANGE RATE TO ACHIEVE STABILITY”
“EXCHANGE RATE RISES IN LOCAL MARKETS AS DOLLAR SELLING PLATFORM IN IRAQ NEARS COMPLETION”
When they refer to “exchange rate stability” what they really means in not so fancy terms is the ability to control their currency and adhere through all mechanisms to the “official” CBI rate.
How can they think they can significantly revalue and reinstate the dinar unless they can control the currency?
How many times have they told us this in the past that this is needed. Now they say they have a way to achieve it and it was just the normal international practice of doing business with other countries all along that was the solution.
Yes, they had to get off the sanctioned mode of doing business to buy imports using only the dollar to pay for them and go back to normal international practices, of multi-currencies.
But oh..oh..…wait a second….!!! 😊
What happens to the de-facto peg to the U.S. Dollar then when they do all this?
Won’t they have to also get of this sole peg? I know for a FACT that the IMF is standing in the wings waiting and watching for the results of this new process of paying for imports.
They are watching for inflation. Will there be a backlog of transactions waiting to pay foreign merchants or will this go smoothly. A gross backlog could drive up the prices in the stores as shortages could occur. There might be inflation.
I am told by my CBI contact that if it is successful after monitoring for inflation, then if all is good, the CBI will launch the Project to Delete the Zeros and we know what comes next.
They will have too also launch the new peg of the IQD to the new basket of currencies. Are you happy yet?
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