STATUS OF THE RV, PART. 1
Where do I begin today with all the VERY GOOD news for this period. Lots of smiling faces. I am trying to keep this Status of the RV short and concise, but it is hard, as there is so much very good news to report to you. No, the RV has not yet happened.
It is not yet over! Whoever is telling you this is an idiot. We have no word from the Central Bank of this move occurring or staged in the near future. The IQD is NOT yet trading on FOREX. Sorry, all you idiot intel gurus out there.
You should all grow up and do your own diligence and research before coming out on your conference calls, YouTube and other social media with your nonsense.
Now, let’s get to the REAL news. Yes, no fantasies or lies, just the FACTS.
The first set of articles deal with the currency rise of the dinar over the dollar. Oh WOW! We should be all excited but please no knee-jerk reactions, at least not yet.
We should not get too excited over this news. This is not an RV. Instead, is said to be temporary and in the numerous articles today they tell you why. However, having said this, there is still great potential for an adjustment in the dinar rate and this is a good sign that the CBI is making progress with its currency reforms and its is kicking in. We witnessed so many banking and financial reforms in the past couple years. Also, I want to bring an article from the past (April 15th) to you once again telling us the black market (parallel market) may soon be completely gone come this June 2025. Why did they tell us this? They told us this because the remaining 5% of the cash payments for imports will be moved over also to the correspondent banks, as was the other 95% last December 2024. This will finally kill the remaining 5% of the black market. Hurrah, hurrah! This had to be done and the CBI told us this years ago. It is about to be reality,,,,,, finally! 😊 I just want everyone to note how many articles we read over this effort and now it is finally going to be done.
Todays news is mostly all about the dinar as it has posted steady gains against the dollar in the parallel market in recent days, reaching 144,350 dinars per $100 (1443) in Baghdad on Saturday, compared to around 150,000 dinars per 100 (1500) a month ago.
Why is this so important?
To totally control the dollar market is important for three main reasons:
1. The US Treasury has told the CBI they must de-dollarize and control the dollar first prior to any reinstatement (free use of the dinar globally). The US Treasury has to approve the reinstatment,
2. It will prevent the corrupt practices and funneling of money to terrorist organizations (Iran),
3. The most important reason to us as investors is that reforming away from the US dollar enables the implementation of Iraq’s own currency – the dinar in international trade. This is the part that will eventually lead to a high demand for the IQD as the WTO policies kick into effect (but not yet).
Now, I need everyone to understand something more about the news today. Iraq is excited and so should we be. I need you to see how volatile the dollar market is in Iraq. Yes, volatile right now and how it can change very suddenly when certain conditions effect it. Volatility means there can be sudden swings. But will the swings last? This is our concern and study for today. I believe the overall swing will be upward, then a large “pop”.
I am telling you this because the dinar situation can change very suddenly once the right policies are effective. This process is not going to take months or years more. Get it? Can you see it from today’s news?