STATUS OF THE RV
Our 3 zero notes then will still be valid currency, thus we multiply the new rate times the notes face value.
The IMF and the CBI told us years ago they are not going to swap out the 3 zeros notes for the newer lower denominations at a fraction of the value.
Large denominations of United States currency greater than $100 were circulated by the United States Treasury until 1969.
Since then, U.S. dollar banknotes have been issued in seven denominations: $1, $2, $5, $10, $20, $50, and $100.
This process is similar to what they intend to do with the Iraqi dinar only we will see it happen in a shorter period of time.
This is why we need them to issue the lower denominations.
So, when they do reach around 1000 program rate (probably more like just under 1000) they plan to drop the zeros.
The rate then changes by just moving the decimal place over by 3.
But this in-country RV rate will not remain long.
They will then move to FOREX after waiting a period of time as they “adjust for inflation”, which they are now doing.
This is right out of Dr Shabibi’s plan.
Finally we read the news we have been waiting for.
In the Information / Baghdad, a member of the parliamentary finance committee, Hussein Munis, stressed just last Sunday the need to put an end to the window of selling currency in Iraq.
He describes it as the one-eyed American policeman.
But what does he mean by this statement of a “one-eyed American policeman” ?.
According to the analysis of the American Institute, “Decades after the Iraqi invasion of Kuwait in 1990, Iraq is still practically under the influence of dozens of UN resolutions and sanctions as a result of Saddam Hussein’s aggression against Kuwait.
Despite Iraq’s formal removal from Chapter VII sanctions of the UN Charter in June 2013, and its commitment to pay the final dues that exceeded $50 billion in compensation to Kuwait in 2022, there are some issues that remain between the two countries, as Iraq struggles to obtain the status of a “natural state” and integrate into the international community.
What Hussein Munis is also meaning is that the three reform packages launched by the Central Bank of Iraq have proven to be a failure in the framework of reducing the turmoil of the dollar market.
The US is basically a “bully” wanting to keep the process of Chapter VII sanctions on Iraq while we all know the last of the Chapter VII sanctions have been “fully” lifted as of 2022 when Kuwait’s war reparations where fully paid as required to meet the sanctions requirements.
Why does the US not want to ditch the dollar entirely in Iraq?
It uses Iraq to prop up the demand for the dollar and if the demand is high in Iraq (and other countries) the dollar is “king” and it remains of some value.
Since the US is printing so much “fiat currency”, especially under the Biden Administration, as it is not backed with enough assets, it relies mostly on speculation and demand to hold any real value.
In order to move to the next stage of the currency reform plan of Dr Shabibi, they must first deal with the very corrupt Biden administration which supports the Obama plan to first revive the Iraqi economy then give them back their currency.
As Iraq will need an international currency to get off sanctioned like economy and have an international currency status of a “natural state” and integrate into the international community.
What is the Iraqi Stack Exchange (ISX) really all about?
Iraq simply will not and cannot measure up to the Obama plan, now Biden’s plan, without the reinstatement.
They tried their own Iraqi Stock Exchange (ISX) and this did not work, as they intended and thought they could work around and bypass FOREX to sell the dinar.
This strategy was their international strategy and it did not work.
Why did it not work?
The ISX could only work if it was linked to the NY Stock Exchanges for Iraq companies and then the dinar would have to be traded on the exchanges as well.
There is still too much risk in the dinar as the US still has too much control over the country.
Investors know that a currency must be free to float and backed by more than the just the US dollar.
Currently the dinar is in a funky kind of state.
Although it is officially off the de facto peg to the dollar, this did not make much of a difference if you don’t do all the other measures also necessary, like repeg it to a basket of other currencies to support it.
So, the dinar still has the stigma of terrorism and corruption schemes of Iraq associated with it.
This is at the heart of the problem with their dinar.
So, this three-year budget will be a test for the corruption schemes which will almost certainly try to prevail to steal the money allocated through the budget.
Why is it taking so long to roll out the funds?
Today we have a couple articles which talk about this problem.
I quote from Sudani – “warning that the corrupt are waiting to pounce on the budget.”
Do you remember the “Pillars of Financial Reform” in the White Paper?
They are NOT talking about developing so much the ISX as they are talking about the international foreign stock market as a currency market for Iraq (FOREX).
They desperately need to be listed back on it.
The RV precursor economic development plan of the past president Obama is foolish and will NEVER work.
The CBI director Ali Alaq is now acting nothing more than a puppet as he is following orders from the US and we can now clearly see the lack of independence in the CBI when we read the articles today.
This is why the current US administration under the former Obama plan for Iraq must be cancelled and a new plan devised that will actually work for Iraq.
The Governor of the Central Bank of Iraq, Mr. Ali Al-Alaq, received on Thursday, a high-ranking delegation from the World Bank headed by Mr. Farid Belhaj, Vice President of the World Bank for the Middle East and North Africa.
The article tells you exactly what they met for and it could have included currency reform too.
I quote- “During the meeting, they discussed the efforts of the Central Bank of Iraq to organize and consolidate external transfers in accordance with the requirements of compliance and international standards, and to encourage merchants to enter the electronic platform to buy dollars by providing facilities and simplifying tax and customs procedures that the government is making anticipated amendments to”.
We all know what must be done and it is eliminating dollars from Iraq and this include the currency auctions.
This means getting rid of the auctions altogether and allowing Iraq to use the dinar internationally.
They can only do this if they are back on FOREX – the horse after the cart….
Trust me on this one – countries around the world will luv to get their grimy little hands on the Iraq dinar (IQD) if it was worth more than the dollar and was traded internationally on the stock markets.
So you see Iraq could use their dinar if the Chapter VII like sanctions would actually be “fully” lifted as they are supposed to be lifted already for over 6 months.
However, I do see a huge spark of hope coming between now and December as the Biden administration may be on it way out and a new plan put in place for Iraq by the new administration.
