CBI CONTACT INTEL BY MNT GOAT, 11 JAN

 CBI CONTACT INTEL 

So now we must discuss this article in the terms as my contact and I discussed yesterday. I have put my comments in the article I pulled from my Mnt Goat personal archives of past articles. I was told to note this part in the article and I quote – ““There is a high committee formed within the Central Bank that is continuing discussions and studying the deletion of zeros from the local currency of Iraq,” indicating that “the numbers on the currency have become very large, which is the main reason behind this process.” 

So, you see, she said this referenced committee is real and is her committee and she is  part of it working on this effort. But I told her I already knew this. She told me this statement today was not for me but for the people reading my blog. 

They need to understand that the CBI is working on this subject matter the best we can. They set time tables and expectations. When other events don’t happen or don’t happen on the timetable, they we have a rippling effect. 

She said she did not want to mislead me about the December Project to Delete the Zeros and was only telling me what the timetable then was. I thanked her for her continued relay of information to me. I told her I understand and want all my blog readers now to also understand what she just told us. Thus I am telling you this part today.

Next she pointed out in the article and I quote “linking the Iraqi currency’s evaluation completely to the dollar through negotiations with the US Federal Reserve will allow for improving the strength of the Iraqi dinar,” stressing that this step will make the Iraqi dinar “stronger than the Jordanian dinar . ”

 She told me it is the goal of the CBI to get off the sole peg to the US dollar (the de facto sanction peg) of the past and the CBI is working to do this. There is another peg established and is waiting for announcement soon. Do not believe everything you read, she said as these article could be misstating older past policies and not up to date.

I then asked for some sort of timeframe of when we could expect all this to happen.

 I was told that negotiations with the new incoming U.S. administration are informally taking place now with the new Treasury secretary. 

She said there is going to be a very high-level meeting with the U.S. in January to review Iraq progress and she is certain of the outcome, it must be the conclusion that Iraq is stable, secure and can advance to the next stage, which is what we look for as investors.

I want everyone to remember that although we seek the FACTS and TRUTH about this reinstatement in my blog we are all still speculators and the CBI frowns upon speculators of the dinar. 

However, the flip side is they sold us these dinars through the global brokers in a desperate time for Iraq and they know we have them. She said the CBI knows that they must make good for us investors or future investors in the dinar will not come to the market and play.

She also told me the diversification of the Iraqi economy under Al-Sudani is amazing and they are now doing what they planned to do a decade ago and could not due to either funding or the political will to act. 

We exchanged ideas of the past and present and we agreed on the enormous changes taking place.

 This reminded me of my past Newsletters from years ago, when I talked about all these changes and projects to increase the non-oil revenues and now, we can see it all happening. She said don’t you realize the magnitude of what is happening in Iraq?

 She said it is no longer a war-torn country. It will soon be a global tourism destination. There is much progress still to be done in cleaning up many neighborhoods to provide housing and shops. It is all planned out. But first they must secure an economy to provide for all this.

So, this was from the notes of my recent conversation with my CBI contact. I realize I did not get a firm timeframe or window for the Project to Delete the Zeros. I can’t pressure my contact too much as I do not want to lose her. I am certain that when she is notified to go ahead, she will let me know.

Please let’s all just relax and pray. Praying now is the best thing we can do.