STATUS OF THE RV
Let’s get right in to the news for today. No, the RV has not yet happened. Sorry, all you intel gurus… But what is the vision for the CBI when it comes to the currency? Is it entirely attempting to back it with GOLD? How much of the currency do they intend to back with gold we do not know. How much does Basel III require?
Here is what was told to me by my CBI contact when I asked these questions yesterday on my weekly call to Iraq:
“As of April 17, 2021 · Basel III rules move physical gold from being considered a Tier-3 asset to being considered Tier-1, which allows physical gold in bullion form to be counted at 100% value for reserve purposes. All forms of gold, including physical, are required to be at least 85-percent funded with Tier 1 capital in accordance with the Net Stability Funding Ratio (“NSFR”) introduced in Basel 3”.
Remember that Tier 1 capital is not just Gold. So there is not definitive ration for only Gold to total Tier 1 assets.
I was also told: “that the 113 billion in reserves, the CBI keeps bragging about, is all in US dollars today in the JPMorgan Chase Bank, N.A in NYC and does not include the billions of Gold reserves, which is additional. Even though Ali Alaq makes reference to backing the dinar with US dollars he knows this is not a safe way to back the dinar in the long run and this will change to a mixture of a foreign currency basket of 6 developed countries”
Of course this was WOW!!! news for me since I connected the dots. In 2011 the plan for the dinar was outlined and included eventually going to a basket of 5 currencies and not just solely the US dollar, as was described to me yesterday. They told me there is now 6 currencies in the basket.
What does all this mean to us as investors?
It means that the CBI is still on track with the 2011 plan and is moving ahead with it. By reserving gold, they are moving to meet the Basel 3 rules.
So once again the news, if you were paying attention to an article of an interview with Ali Alaq, he told us the future vision of the Iraqi dinar. It makes total sense to me. It is backing the dinar with GOLD! 😊 WOW!!! no longer just the dollar. Yes, we can definitely see the trend already to get the dollar out of Iraq. It is a process.
So, in the article in the article section of today’s Newsletter, see below, first Alaq says that today they back the dinar with the billions of reserves, which is the dollar. Then he talks about the future where it will be backed by GOLD not the Dollar. He says Iraq has 132 tons of gold. So how much is that in equivalent dollars? Let’s see if we can figure it out.
1 ton = 2,000 pounds
1 pound = 16 ounces
1 ounce of GOLD is valued at $1,896 (market price) example only
$30,336 per pound
$60,672,000 per ton
Iraq has about $8,008,704,000 billion worth of GOLD
What else is in the news?
Looks to me like Iraq is working with the WTO now since it has joined it and has been working with all along. I quote from today’s article- “the center will provide to Iraq, with a diagnosis of challenges and work to support Iraq’s accession to the World Trade Organization by providing technical and legal advice and supporting trade policies to align with international standards.”
More proof that Iraq is part of the WTO and is in full accession.
The news today is mostly all about the dinar. Does it surprise you?
I quote from one of the articles today that just about sums up all of today’s articles on the subject matter:
“Iraq has made strides implementing U.S. dollar supply restrictions targeting Iran but faces an uphill battle with a banking system unaccustomed to strict oversight and persistent currency smugglers, central bank governor Ali al-Alaq said.”
“It is really a battle, because the people benefiting from this situation and those harmed (by the new measures) will try in various ways to continue their illegal activities,” Allaq said in an interview with Reuters.”
So nothing extraordinary has occurred this week so far. We wait for more news on the progression of the currency reforms being instituted by the CBI and the coming second “official” rate change to around 1000. But they are not there yet and I do not expect this will take too long now that the budget is released.
Q & A
As you know I like to answer concerns/questions that are important and pertinent to our investment in the Iraqi dinar. Remember my disclaimer: All information in this newsletter is not intended for investment decisions / purposes. Mnt Goat is not a financial analyst, planner, banker, attorney or associated in any role with giving out professional investment advice.
QUESTION/COMMNET: Hello Mountain Goat,
Thank You for Everything you are doing to keep us all up to date while we wait for the reinstatement!!
I know you feel that if Iraq gets the green light from the IMF and the US that the Dinar could RV right away, but wouldn’t it make sense for it to RV after President Trump gets back in the White House, so he gets all the credit for creating all the new rich people from the RV?
Also, who in the US is in charge of giving Iraq the green light to RV?
Would it be the US Treasury?
Also, my family members keep asking me this question:
“What if a bunch of rich people get wind of this situation and decide to use a lot of their US Dollar cash to buy all the Dinar that is in circulation outside of Iraq? Someone like Elon Musk, Zukerbucks, and Bezos could buy it all up, and then wouldn’t that put Iraq in a bad spot if it did finally RV? Because when the USA turnes it all back in to Iraq, for the oil credits at a fixed rate, how could Iraq keep selling oil to the USA at a discount price to cover all that turned in Dinar? Wouldn’t that hurt them real bad selling all that oil at a discounted price? They need good profits from their oil to keep the country going since the oil revenue make up I think like 90% of their yearly revenue, right?”
I don’t know what to tell them for an answer to their questions, maybe you can clear it up for them.
Thanks Again Mountain Goat, may God bless You, all of us investors, Donald John Trump, the Military, and the USA!!
MNT Goat ANSWER: I do not believe the RV will go right away once the CBI gets the green light. I never said that. However, I did say that they would RV first in-country and restrict it to Iraq. At that time, it will be just under or over a dollar. Probably more like over to give incentives for citizens to turn in their 3 zero notes. Then the CBI will watch carefully for inflation. We don’t know how long this would take. Maybe a few days or weeks? What if they do experience inflation? They will also have to take more reform measures to combat it. Right?
Also, to coincide with the RV they would have to conduct the Project to Delete the Zerosthus the redenomination. I have said this over and over again so there is no mistake on the CBI plan and my stance on this. Like many of these idiot gurus tell you that the US Treasury is just going to pop out a rate and give 800#s to call and we all head to the bank is absolute nonsense. Stop listening to them, please! ☹
The oil credits from SOME of the dinar, not all of it, is to be used over a long period of many decades. Get it? I do not know the caps per year, but I am sure they have worked it all out so Iraq can handle the exports. Remember too Iraq is exporting nearly 2/3 more oil today then when these agreements were conceived. Tell your buddies and family members this – ‘no guts no glory”. This is not a get rich quick scheme. It is a legitimate investment in Iraqi dinar but you have to have the guts to stay the long haul. If you don’t then sell you dinar and get out!
We all want this to be so simple and even after waiting up to 17-20 years for some of us, we still have not learned our lesson. The heart of the problem now stems from systemic corruption. Like Dr Shabibi once said, you can’t let this de facto program rate tied solely to the dollar drag on as corruption will become the norm and banks will not diversify in ways to make money. They will become dependent on the spread from the currency auctions. Is this not exactly what has happened? Okay, so now they have to undo it. So now they are in this bad situation and must overcome it. Remember the “Pillars of Financial Reform”. This is how they will overcome it along with perseverance and more reforms. But we can at least the process now in force and is moving ahead nicely.
Also, I want to add. Have I not been saying all along that an obstacle to Iraq is also the US government and all this corruption from the past Obama and not current Biden administrations? Go back and read my past Newsletters. They are financially trying to rape Iraq. They are like vultures.
POLITICS
I decided to begin including this section in my Newsletter because of the nature of what we are now seeing in our governments and how these crises after crises now affect the ability of us to spend and hold on to our proceeds once we exchange our dinar post-RV. We can make a difference if we decide to. We are empowered citizens as we only have to realize it and do something about it. Remember the majority is many hundreds of millions of people and the elected and on-elected government officials are only less than maybe five thousand. This scares them but we have no power unless we act upon it.
I encourage everyone to watch these videos I have put together. They will save you time and are shortcuts to the political news that does effects everything in our lives including this long-awaited RV.
We are down to the last month of the three-month period that prophet Tim Sheets talked to us about (June-Aug). Did you see how explosive June and July were? Wow! Talk about prophecies fulfilled!!!! What is August going to bring us?
BY MNT GOAT
