Iraqi Dinar Revaluation and Global Currency Reset News | Dinar Chronicles

Adam Montana:

[Is there ANY difference in value of un-circulated Dinar as compared to crumpled up old circulated Dinar at cash-in?]

...the CBI currently states that they actually have the right to deny accepting any notes with even the slightest flaw...so if they were to do that, a note that's crumpled, soiled, ripped, or otherwise "destroyed" could be rejected. 

However... it's not likely that they will be that harsh, as it would undermine their goal with an RV - to increase their money's value and also their "worth" in the world as the major leaders see them. 

They also "reserve the right" to refuse ANY currency from outside of Iraq, which is where we get the occasional lopster using that as "evidence" that an RV is impossible. The fact of the matter is that Iraq does need the support of the world to be successful, and I'm not worried about them refusing our notes as long as they are in decent condition. 

Now, if your dinars have been ran over by a skid steer, left outside in a mud puddle, and taped back together a couple times... you might have a problem!

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[If HCL is approved,do they necessarily have to wait until Budget 2015 is approved before they can RV their currency? With current situation, is it true that the lower oil price will force them to RV their currency ASAP?]

Nope! They won't be "forced" to do anything, and they can RV with or without a current "budget"... but I strongly believe that when they do make that announcement, there will already be an approved budget ready to go waiting only on the CBI's rate to be plugged in.

http://www.dinarchronicles.com/intel

Iraqi Dinar Revaluation and Global Currency Reset News | Dinar Chronicles

Adam Montana:

Good stuff happening right now - here's the brief headlines: 

1. Last week there was talk about jumping straight to the 2015 budget, and this week they are DOING it. BAM! 

2. What's Kurdistan's biggest gripe been over the years? What has stopped them from agreeing? MONEY. Under Maliki, Baghdad screwed the Kurds every chance they got... and what's changed now that Abadi and the new GOI is in place? Things are moving, and Kurdistan just got news they are getting paid. POW!! 

3. Y'all know what the HCL holdup is, right? MONEY! The Kurds have refused to agree on anything because they were not getting a fair shake (to say the least)... well, that's changing quickly and we are actually seeing the word "agreement" instead of "talks" or "negotiations". ZING!!!

http://www.dinarchronicles.com/intel

News, Intel, Rumors and Opinions - November 13, 2014

Iraqi Dinar Revaluation and Global Currency Reset News | Dinar Chronicles

http://www.dinarchronicles.com/intel

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tman23:

In email I'm told people in Iraq (all over government) are receiving salaries today [Wednesday]...And in Turkey there are announcements confirmed that Qi Card has opened a distribution center for the card...this is also along with Jordan and Lebanon...Rumor, chatter or whatever it is to be labeled...It is being said that the Qi card is "expected" for use on the 16th...Sunday out of the country...And supposedly they have a Iraqi soccer game taking place at 20:00 hour Friday? 

And chatter of a victory for the trophy pays citizens 25 000 ...( that is the way it is in email 25 000 ) so you decide what it is LOL!  

This is the 2nd time I have heard the 16th date from 2 different people regarding ability to use the smart card out of the country.

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I have a copy of the FOGL (HCL) 2011 draft law and the changes recommended by a committee in Norway...Most of this deals with clarifying language...and they are dealing with who owns the pipelines and in regards to pipeline fees and the maintenance...There is much to be agreed upon but in context they agreed to agree...The devil is in the details and that is what they are discussing...As stated on Monday...Done Deal!

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Millionday:

TODAY [WEDNESDAY] THEY DECIDED THAT THEY ARE GOING TO ADOPT THE OLD OIL AND GAS LAW AND WORK ON THE OTHER WHEN THEY CAN GET ALONG ENOUGH TO MOVE FORWARD WITH IT -- ALSO THE LAW OF THE EMPLOYEES SALARIES LAW/SCALE (OBVIOUSLY) AND THE NATIONAL OIL COMPANY FINALLY -- THE HUSTLE AND BUSTLE IS ON -- WE HAVE THE OIL AND GAS LAW -- THE OIL AND GAS REVENUE LAW -- THE NATIONAL COMPANY OIL LAW --THE CORPORATE LAW-- AND THE LAW TO AMEND THE REFINERIES INVESTMENT LAW -- WE LOVE ACTION -- AND LET ME SAY IF THEY ARE RUNNING OUT OF TIME TO MOVE FORWARD WITH THE OIL AND GAS LAW THEY HAVE WORKED SO HARD ON --- THEY ARE SEEMING TO BE IN A HURRY. 

[what do we have to see in writing to know the HCL is complete?]

THE HCL PRINTED IN THE GAZETTE WITH ALL OTHER LAWS AT THE SAME TIME.

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Article quote:
"Parliament agreed to cancel the 2014 budget transfers and salary scale and job grades and salary increases social welfare allocations to the budget in 2015, "noting that "the 2014 budget will be presented in the form of the amounts that were paid this year bonds"

THAT IS NOT WHAT IT SEEMS...IT IS NOT TALKING ABOUT CANCELLING THE BUDGET. 

IT SAYS THE PROJECT AND IT MEANS THE PROJECTS THAT WOULD HAVE BEEN CALCULATED IN THIS BUDGET SO THEY WILL BE TRANSFERRED TO THE 2015 BUDGET DUE TO THE MANY UNFORESEEN EXPENSES -- THE TERRORIST FIGHTING AND SOME OTHER EXPENSES.

SO IT DOES NOT AND I REPEAT -- DOES NOT MEAN THE 2014 BUDGET IS CANCELLED. 

IT MEANS SOME OF THE PROJECTS WILL BE EXPENSED IN THE 2015 BUDGET THAT WERE PLANNED FOR THIS ONE. 

SO KNOW THAT THE BUDGET 2014 IS DONE AND BEING RESPECTED AND MANY THINGS WILL BE MOVED TO THE 2015 BUDGET.  

[do you think RV will be postponed to 2015 budget since Iraq has a lot of catching up to do?]

ACTUALLY I DO HAVE A REPORT...THAT MAKES IT VERY CLEAR AND USES THE WORD REVALUE AS TO WHAT THEY ARE DOING RIGHT NOW -- VERY EXCITING TIME TO SAY THE LEAST.

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[Has the HCL Law been put in the Gazett yet?]

no at least it is not announced to have been but it happens right away when it is voted and with the oil deals it is possible just not in ink.

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Adam Montana:

[Now HCL is in Parliament waiting to be approved. I have read that there are other major laws (CBI Law, Money Laundering Law) waiting to be approved. Do you think these laws will take time as long as HCL to be approved...is there any other obstacles than HCL for RV to happen?]

To keep it simple - the HCL is THE biggest thing on the plate right now - they are reviewing it as we speak, and we could literally have an answer on it by the end of the day. (I'm not promising anything - but it's a real possibility at this time!)   

[SO lets assume the HCL passes...whether it is Nov, Dec, or even next summer...(personally I like the new GOI and believe they are working at a feverish pace to pass HCL)...once they do...how long before implementation? What will we see/look for?]

Once the HCL is passed, I expect things to move incredibly fast - at that point, I'm guessing we are in the days/weeks phase, rather than the "soon" phase.

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Kaperoni:

I know many are looking for the economic laws, but the last few days several articles have asked for then naming of the heads of the parliamentary committees. 

Until that is done, the laws we all want to see in parliament will not occur.

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Article:  
"Barzani and Oil Minister Reach agreement "a comprehensive and fair" to resolve the outstanding problems between Baghdad and Erbil"

Well, it would be better if they said it was done and they signed some agreement..but a temporary deal to hold them over until they can get together and finalize it, and pass the oil and gas law as well is better than nothing. 

A small step, but a good step.

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BGG:

as per Fox ticker = HCL...HCL is DONE!! 

it ran on the Fox ticker this afternoon...Baghdad and Erbil settle longstanding oil and budget disputes TODAY!!

News, Intel, Rumors and Opinions - November 12, 2014

Iraqi Dinar Revaluation and Global Currency Reset News | Dinar Chronicles

http://www.dinarchronicles.com/intel

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tman23:

Announced Qi card/Mastercard for Iraqi's can be now be aquired Jordan and Lebabon (at one location each country)...Iraqi's must have a passport and Civil Service Staus papers...People ask the location of ports (banks to get cash off the card)...They are just issuing right now, the people don't undertstand yet that these cards will work in all ATM's...etc...once the acrd is activated internationally. 

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Adam Montana:

I'm a bit excited right now and there's no reason for that feeling to lessen at this time. The Iraqi Government is still making more progress in less time than ever before.  

HCL: Is on the table in a big way - we're seeing 3 or 4X the normal amount of articles on the subject, and every single one of them is encouraging.
  
Quote: 
"there are many laws that will be discussed, notably the oil and gas and the law of the employees' salaries and the law of the national oil company law.  Ebadi said in a statement to the newspaper "morning", said the law, which will be discussed today..."   

That is happening NOW, as I type this!

ISIS:   
It's being reported that ISIS is failing in Kobane thanks to Kurdish and Syrian forces. Iraq has recovered one of the military bases that ISIS was reported to have taken from Iraq. There are more examples, but the bottom line is simple - like I reported a couple weeks ago, ISIS is not enough of a threat anymore to even worry that it will hinder a currency revaluation.  

The things that need to be done are getting done, and unless something major goes wrong... things are all good for us!

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Stryker:

Well, today hasn't started out very good since the Investment Laws are not listed on the parliament agenda for tomorrow.  

Oil & Gas Law Articles are all over the place today for adoption and the one that the government already sees will be easy adopted is the rewritten draft of 2011. This draft should be a no brainer as a discussion since there was already a committee of all blocks that was overseen by the UN in 2013 to make sure all parties were in agreement on it. 
 
Will this take long to get into parliament? We will see but it does come at a time that all major topics are at the forefront.

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Millionday:

THEY ARE GOING TO HAVE THE MEETING OF CBI-OIL-PLANNING-AND FINANCE -- OBVIOUSLY A VERY IMPORTANT MEETING...THEY ARE BRINGING UP AGAIN CBI IS NOT TO USE THE RESERVES FOR INVESTMENT BECAUSE IT IS TO COVER THE RATE OF THE DINAR.  

THEY ARE SAYING THAT THEY NEED TO PRESERVE THE RESERVES SO THAT THEY CAN LAUNCH THE REALITY OF THE ECONOMIC REFORM.  

FIRST THING NEEDED FOR ECONOMIC REFORM IS MONETARY REFORM TO HAVE A REALITY RATE FOR INTERNATIONAL TRADE AND ALSO THEIR STOCK MARKET -- CANT JUST HAVE A MADE UP RATE AND VALUE THAT DOES NOT MAKE SENSE.

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Kaperoni:   
...the Law of Indebitness... Moving to IMF Article VIII and a new exchange regime which will let the dinar begin to rise can happen at any time. In fact, I want to say now..I do not expect anything to happen until at least mid Jan or even later. Several laws need to be passed, security needs to be at an acceptable level, and the CBI needs to request to exit Article XIV from the IMF via written request and accepted by the IMF.  

I am a realist, looking out late Jan -March is probably a good timeframe for them to accomplish all of that.

News, Intel, Rumors and Opinions - November 11, 2014

Iraqi Dinar Revaluation and Global Currency Reset News | Dinar Chronicles

http://www.dinarchronicles.com/intel

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Kaperoni:

Article:
"Al-Abbadi, confirmed the World Bank sought to shift towards the private sector and encourage investment"

Quote:
"The Al-Abadi said the Bank hoped to achieve what we yearn for in our Government to shift towards the private sector and to encourage the movement of investment, referring to the Bank's role during the last 10 years in support of joint projects with the Iraqi Government and the private sector."

This article is amazing...the World Bank basically said...we have helped you prepare, and now its time...dont be scared we are with you and now is the time to open the economy.  

Just amazing article!

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TD:

Couple really interesting thoughts shared from my Kurdish friend (as always treat as rumor and do your own homework). My friend indicates that the new commitment of US personnel includes conditions set by the US.  

While it's quite detailed and only few know all the details he believes (was told) that the US is mandating that by next summer to see REAL progress of inclusion by the Abadi administration and brokering of deals with Sunni moderate groups in the end goal of unifying the country. This of course coupled by offensive efforts of the Iraqi army to regain much of now ISIS controlled territory. A major area of push in months ahead will be the Anbar province. If within 6-9 months there is no real progress, the US will then be pushing for a federation arrangement within Iraq which the Kurds would be delighted with anyway. In the end a POLITICAL SOLUTION is a MUST for Iraq...the existence of Iraq as a "COUNTRY" remains unclear and with it is all MAJOR economic and social programs to execute.

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Adam Montana:

Awesome stuff coming out of Iraq - it's getting hot in here!  

Article: 
"Iraqi PM’s Office: We Will Reach Agreement With Erbil Soon"

This is HUGE!  &  HCL has been read! 

Article: 
"Deputy for the National: oil and gas law has read it and we are waiting for the Commission sent"

I'm getting excited - we are seeing more progress in a shorter amount of time than EVER before.

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BGG:

Article:
"The arrival of the draft oil and gas law amended to parliament for approval"

This is big news...BIG NEWS for them, not as big for us. IMHO the only thing we need to see is THE NEW RATE.

News, Intel, Rumors and Opinions - November 5, 2014

Iraqi Dinar Revaluation and Global Currency Reset News | Dinar Chronicles

http://www.dinarchronicles.com/intel

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Kaperoni:

...there is significant evidence and factual examples why...a LOP is not happening, but an overnight RV is not happening either...we believe the CBI will do what the IMF tells them to do...the 2013 Article IV Consultation...its pretty clear.

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tman23:

Anyone can apply for a smart card or visa card, it is no different than here in regards to direct deposit of paychecks etc...along with cash advances and loans. Some of the older smart cards are being exchanged for the NEW version smart card because they no longer work...the older smart card DID NOT have the capabilities to deduct the zeros! FACT! So now that those older cards quit working 11 days ago or so...and the bank telling people they will be able to use the international card outside Iraq "by the end of the year"...Logic and signs point to monetary change before 2015.

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American Contractor:

The CBI, Central Bank of Iraq conducts daily currency auctions where private banks along with several currency exchange money stores convert Iraqi dinar to US dollars. 

The private Iraqi banks have clients that have a need for US dollars to pay for goods and services because payment in Iraqi dinar is far too cumbersome for Iraq business owners. Imagine having to pay for materials for a prime power station in Iraqi dinar currency. That’s  lot of paper! Iraqi business people like to use the US dollars for the simple fact that it is far easier to use and less notes to handle when conducting business.

It is an example of why the CBI will in the future create a large category Iraq dinar banknote of 50k and 100k.  When this happens, Iraq business will start to use the Iraqi dinar in business transactions. 

In Iraq, the Iraqi dinar can be converted to any of the major world currencies at any state or private banks. 

After the conversion from Iraqi dinar to US dollar an Iraqi based company is allowed to repatriate company profits to any financial institution in the world. 

This has been happening since 2004, after a handful of Iraqi banks had been approved for SWIFT transactions.

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tlm724:

Article: 
"Parliamentary Oil announces the arrival of the amended version of the oil and gas law to parliament"

*hallelujah* Commission will work to resolve these differences to pass the law as soon as possible in preparation for inclusion on the Council's agenda and read and approved.

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Adam Montana:

After having been involved in the Dinar for so long, there are a few things that I take for granted these days...one of those things is the knowledge that Iraq NEVER gets anything done on time, and that's actually one of my primary reasons for never giving a "date and rate" type of update. 

Recently, though... they have proven me wrong a few times, and that started when Abadi came into the picture. I do not think this is a coincidence. 

In fact, the longer this goes on, the more confident I get that we are finally on the right track. FINALLY! We've seen a ton of progress over the last decade, but compared to the last couple months... we were only in 1st gear then. Since Abadi has came into position, I'd say Iraq has shifted to at least 3rd gear, and is picking up speed!

One article worth noting is this one:
"Parliamentarians: Cancel 2014 budget allocations and transfers some to 2015"

...what it's telling me is that this "new" Iraq possibly understands that they are behind schedule on the 2014 budget and in order to move forward they need to kick into a higher gear - the easiest way to do that in regards to the budget is to bump some of the issues straight into the 2015 budget. They say the plan is to do this within the month. Combine that with YET ANOTHER positive article on the HCL that finally lays it out in plain terms: There are FOUR items left to decide on the HCL and then it will be APPROVED... again, we're looking at a very short time before this finally pops!

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Stryker:

OIL & GAS LAW, AMNESTY LAW,  2014 - 2015 BUDGETS...I point these out because they show that there is an urgency in passing the laws and budget needed by the end of the year that is needed so economic and currency reform can start the first of the year 2015... know that things are moving in the right direction.

News, Intel, Rumors and Opinions - October 31, 2014

Iraqi Dinar Revaluation and Global Currency Reset News | Dinar Chronicles

http://www.dinarchronicles.com/intel

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Poppy3:

Quote:  
"Estimate the amended exchange rate of the Iraqi dinar to be used in technical and economical feasibility studies and for (1.134) dollar per dinar. This price should be approved for 3 years until re-appreciation by the competent authorities."

THE ONLY PROBLEM WITH THAT RATE IS IT DOESNT HAVE ENOUGH VALUE FOR THE PEOPLE OF IRAQ TO GAIN CONFIDENCE IN THEIR DINAR TO STOP USING THE USD.

FURTHERMORE IT IS NOT NEAR ENOUGH TO FULFILL THE BUDGET OR TO FUND THE HCL . THESE THREE THINGS ALONE TELLS ME IT WILL BE HIGHER THAN ONE TO ONE.  

I ALSO POINT OUT ANYONE INVOLVED OR IN THE AUTHORITY TO MAKE THAT CHANGE HAS NEVER SAID A WORD ABOUT 1 TO 1 OR A LOW RATE PERIOD. ONLY PEOPLE MAKING THEIR SUGGESTIONS HAVE ALLUDED TO 1 TO 1 POSSIBILITIES.

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WHY THE POSSIBLE DELAY THAT IS BEING DEALT WITH EVERY HOUR RIGHT NOW---THEY HAVE NOT PASSED THE BUDGET BECAUSE UNTIL THEY ANNOUNCE A NEW RATE THEY DON'T HAVE FUNDS TO BACK THE BUDGET. THEIR CONSTITUTION WILL NOT ALLOW THEM TO USE THE RESERVES. THEY HAVE TO REACH AN AGREEMENT ON THE RATE AND STEP BY STEP PROCESS TO USE WHEN THE RATE APPEARS TO FUNNEL THE FUNDING TO THE GOI TO FUND THE 2014 BUDGET.  

AGREEMENTS CAN BE COMPLETED ANYTIME. STAND BY FOR VICTORY. THIS IS WHY NEWS IS SLOW BUT ALSO WHY ITS ALL PROGRESSIVE AND FINANCE DIRECTED.

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[do we have any more info on when the ESX goes live?]
ALL I HAVE VERIFIED IS THEY ARE ONLY TRADING IN COUNTRY AND VERY LIMITED AND THAT THEY ARE PREPARED TO GO INTERNATIONAL AT ANYTIME BUT MUST HAVE A ACCEPTABLE RATE FIRST.

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Millionday:

Article quote: 
"Nora Albjara member of the committee of economy and investment in the House of Representatives revealed that the central bank completed its preparations for the issuance of metal coins of seven small groups, in conjunction with the implementation of the project to delete the three zeroes from the paper currency is currently in circulation"

CBI IS DONE WITH ALL 7 COINS THEY ARE GOING TO USE AND READY TO RELEASE THEM AND REMOVE THE 3 ZERO CURRENCY ACCORDING TO THIS ANNOUNCEMENT.  

IT LOOKS LIKE THEY ARE CHANGING THE RATE.  WE WILL HAVE TO WAIT UNTIL WE SEE IT -- BUT WHAT PURPOSE WOULD THE COINS AND LOWER DENOMS BE? YESTERDAY THEY ANNOUNCED THAT THEY ARE LAUNCHING THE GLOBAL MARKET LINK TO GLOBAL BANKS AS WELL. 

KNOW THIS IS HUGE HUGE NEWS. 

YOU SHOULD BE DANCING IN THE STREETS...

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[what is better for the Iraqs to do , come out with a higher rate or lower rate to control their inflation?]
HIGHER. 

IN THE 90`S THE RATE WAS AROUND 3.22 BUT WE HAVE NO INFO ON THE RATE OR THE DATE. 

I DO NOT BELIEVE THEY WILL ANNOUNCE THE RATE CHANGE -- IT WILL JUST BE THERE WHEN THE INTERNATIONAL RATES CHANGE --  THEY JUST ANNOUNCED AS WELL FROM CBI THAT THE BANKS HAVE BEEN MAILING OUT THE VISA BANKING CARDS AND THE SMART CARDS ARE OUT AND READY FOR THE REST OF PEOPLE AS WELL. 

WE ALSO SEE THAT THE REST OF THE STRATEGIC FRAMEWORK WILL BE COMPLETED AND OF COURSE WHAT IS LEFT IS THE MOVE TO A MARKET ECONOMY AND ALL THAT ENTAILS.

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Enorrste:

While it is true that basic supply and demand for currency within any given economy (Iraq, for instance) can have an affect on the overall value of that currency, there is another factor that is much more important once Iraq moves to Article 8 and the currency is recognized as a valid world currency. 

That factor is speculation. 

Speculation in world markets is the primary force that drives its value. 

Other forces are supply and demand, economic growth, interest rates, and a country's balance of payments situation. 

It will be speculation, however, that will be the driving force in the case of the dinar, in my opinion.

The IMF was quite clear in its recommendation to Iraq: 

move to a "free float" exchange regime. 

No where has either the IMF or the CBI talked about a managed float.  Therefore, I believe that once Iraq moves to Article 8 and opens the door for the dinar worldwide that adding or removing large notes will be minor in comparison to the basic speculative demand worldwide.  Therefore, I see the currency rising quickly...

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...I have said numerous times before, Iraq is going to be like the "wild west" was in the second half of the 19th century in America.  Investors will flock to Iraq to make their fortunes, and they will need dinars to do their business.  Therefore, the demand will grow WORLDWIDE for the dinar quite quickly, in my view. 

The supply and demand within Iraq itself will be minor: 

worldwide demand will grow based upon the influx of investment into Iraq. 

Many articles have come out stating that many countries are already chafing at the bit to get into Iraq. 

Some have already made strides in this direction, but they are minor compared to what will happen once the currency is recognized worldwide (Article 8 and its protections). 

KAP [Guru Kaperoni] has shown that the plan is to get laws in place to offer insurance protection for foreign investors. 

That will probably precede moving to Article 8.  I suspect all of this will come to fruition within the next 60 to 90 days, after which the float will begin. 

...I suspect, the CBI has been preparing for a true "free" float (this is why they have raised their reserves so high)...

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Adam Montana:

[...how many laws can parliament vote on at a time? Is it possible that they could act on 2 or 3 laws in the same day, or do they have to take a breather between each of them. And how much time does it take for it to be entered in the Gazette after it is approved.]
Theoretically, they can vote and pass as many as they want in a single session - there is no law preventing this. Regarding getting it in the Gazette, I have it on good authority that once these particular items are done and there is an official change in the rate, we will see it published in less than 24 hours.

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BGG:

I'm not saying this is happening now - I am saying once you see Fils - they will have to be worth more. Period.

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TD:

I confirmed several points of news & discussion with my Kurdish friend (as always treat all as rumor and do your own diligence). He confirms that the coins WILL BE part of the introduction of the deletion of the zeros program. This actually confirms even more so the LOP to happen as coins will be used in the marketplace along with the new 5, 10, 25 dinar notes. There is NO CONCRETE TIMELINE YET as to when the currency reform will be initiated. As I've outlined before they have crafted all these plans on the blackboard as a two year window of 2015-2016 to INITIATE the program AND as the old and new notes coincide (yes coins introduced) THEN it will take about two years more to pull in and retire all the 3 zero notes.

Look, Iraq is notorious for putting plans out there and then delaying them so we shall see...My contact says EVERYTHING is based on unifying the country and having a uniform, safer environment from which to operate. He says the GOI has their hands full with the war, the economic duress and social problems. Sorry to be a buzz kill BUT my contact indicates there is NO RV/RD/RI scheduled this weekend, November or for that matter the rest of 2014.