UU2010 – “ This Weeks Summary ” by Mnt Goat

Hello Everyone,

Let us review what has happened this last past period and in this ongoing saga of the revaluation of the Iraqi dinar. Please read the past news letter dated 2/18 to better understand this news of today.

Today’s News

Today is Friday Feb 20th and still no RV. We have been waiting for the opening of the 2015 budget and the distribution of allocated funds to each of the provinces. We know that in order to accomplish this they must complete the economic reforms and in particular the currency reform.

So yesterday, Thursday 02/19 out pops news from the Parliamentary Finance telling us that next week all the provinces will see the release of the federal budget funds for the ministries – \ Really ! Like this was a WOW moment for me.
Tomorrow Press / Baghdad: detection of the Finance Committee in the House of Representatives member Haider Mutlaq, on Thursday, that the launch of the federal budget for 2015 by the Ministry of Finance to all ministries will be early next week, pointing out that the financial crisis will be overcome in the event of rising global oil prices.

He said Mutlaq for “tomorrow Press,” that “there is a deficit happened in the month of January last for oil sales, which did not provide all employees state salaries,” adding that “this month and after the rise in world oil prices provided Iraqi oil exports, all employees of the Iraqi state salaries and ruled the winning difference between salaries and sales. ”

And that “the Iraqi government requires them to sell $ 119 million worth of crude oil per day to clog the employees’ salaries,” expected “overcome this crisis with cash that the Iraqi government is facing in the coming months.”

Mutlaq said that “the launch of the federal budget for 2015 by the Ministry of Finance to all ministries will be early next week to enable them to exchange.”

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Earlier this week we also heard news of large sums of cash being delivered to Anbar providence. This news was sweet music to my ears.

What does this mean? Are these the new lower denominations ($5,10,20, etc..)? Or could they be replenishing the 3 zero notes instead? Could our intel be confused?

If you are smart enough in this investment and have been reading my news letters all along you know that these can’t be more 3 zero notes since there was a massive effort by the CBI to collect nearly75+% of these old notes from the citizens.

I do not believe they would be restocking banks with these old notes and going backwards in their plans, especially at a time like this.

So what are these notes they are delivering? I believe they must be the lower denominations since we heard earlier this month this distribution was about to begin. There are many other provinces that also received large sums for cash this week.

This all comes on the heals of this gold buying frenzy by the CBI we heard about recently. Remember I told you that this gold was periodically and systematically being bought by the CBI over time.

This recent batch was just one of many purchased. Whenever the banks turned in enough of the 3 zero notes then collected by the CBI, who burned these notes and was allowed to buy gold to substitute for its value.

They did this in place of carrying the sums electronically. So what we have had, right in front of all our noses all along, is a transformation of the old 3 zero notes into gold backed lower denomination currency. Did anyone pick up on this going on? I have not heard a peep from any of these so called intel “gurus”.

We also know that the chairman of the CBI wanted the revalued currency to come out at a very high rate to the international community and they were told they had to have solid assets to back it up.

With the declining oil prices they needed to make this gold deal. Thus the gold. Do you see also why an RV rate of 10 cents or 40 cents, 1.17 or even anything less than the pre-war value is ridiculous?

They didn’t need the gold to back that kind of initial rate. We know the free market is going to drive the rate into a buying frenzy once public but it is the initial rollout rate they must prove to the IMF its value. This recent oil downturn spooked the IMF.

Could they have just issued the lower denoms in place of the 3 zero notes ?

Think of why this really does not make much sense. Let’s say if you had a truck full of the $25,000 notes being returned from a bank to the CBI, how many more truck loads of the lower denoms would it take to substitute for this one truck? Think about it…….lots and lots..

The plan all along has never, ever been to directly exchange the large 3 zero notes for the lower denoms anyhow. The USD was to be used in the conversion process. Now we see the purposing of the gold backed currency.

In short – instead they simply transformed the value of the burned notes (once turned into the CBI ) into gold. Now they can distribute the lower denoms to the public and have their currency backed in part with the gold (gold will rise in value since they bought it in a down market anyhow)

This will happen but only after the purchasing power of the lower denoms increases significantly. Do you see the simple yet sane logic of it all? This plan has Dr. Shabibi written all over it. It is brilliant !
The key here is I said “in part” backed by gold not entirely. Could a currency backed by a very high percentage of gold be on the near horizon for Iraq? Yes, yes and yes!.

This is the plan and we can see it in the making already. Did I mention all that BLACK gold they still have in the ground?

THIS WHY IRAQ WILL BE THE RICHEST COUNTRY IN THE WORLD and as Shaibi said in a 2011 interview could sustain a future rate in upwards to $16.00 USD. Now do you see the big picture?

I have been saying all along to watch for this distribution process in conjunction with the funding for the 2015 budget to begin and this will be our queue as to how close we are to the currency reform completion.

Where do we go from here?

Well I believe its all about to happen very soon. I am hearing they need the weekend (and maybe into early next week) to prepare and distribute the lower denominations. Yes – it really is about to happen folks!

I fully believe that if they begin to distribute the budget funding to the provinces, we will see the RV shortly before, during or after the process but certainly not weeks away. They are telling us this will happen next week. So put two and two together to see just how close we are.

They are always very optimistic and unrealistic on their timelines so relax and don’t get discouraged if it takes a wee bit longer then they are telling us. It’s beginning to sound more and more like early March to me.

I do not like to predict rates for the IQD but I am hearing that we could see a $3.58 up to $4.00 range when it goes international but certainly well over pre-war rates.

Peace and Luv To Ya All, Mnt Goat

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