What the heck is an informal RV announcement?
Why did not all the 190+ currencies get RV’s and global reset pushed?
These are two very important questions and I will try to address them.
They made an informal RV announcement of these two currencies only cause they needed a firm date to coincide with other contracts so they could have a real rate to use.
From this date forward penalties are being paid out on these contracts since the formal announcement has not yet been made. This also allowed for much corruption. Whether this was planned all along or just decided afterwards I do not know.
But the RV’d rate was essentially now from the public yet those of influence in the government were allowed early exchanges by political politicians and their influential friends and family members.
They consumed much of the high contract rates not allowing much left over for the general public to participate, who were the intended participants all along for these the contract rates.
These early exchanges ended in late December 2013. It was thought that now the general public would now exchange.
However in January 2014, once again only the already wealthy could participate. The UST was accused of corruption once again by allowing these rates go live at special times of the day for these bank customers.
The finger pointed began and they only pointed back at the banks as the problem. This practice was finally stopped in mid February, after almost a month of feasting on the high contract rates once again this depleting the rate bucket even more from the general public, the intended recipients. It was stopped only after much pressure from the general public.
It now stands that the general public will now at least have an opportunity to exchange also at these high contract rates.
What money is left in the buckets?
How many of us general public will actually be able to exchange before the rate is depleted since most of the funding on the contracts has already been consumed?
The next question is how long must we (the general public) now wait before we may also exchange since the very wealthy have already had their share. The longer they wait the more impatient and frustrated we all become. This is like a boiling pot of stew. Since it is covered up now how long before the pot boils over?
Other recent developments for this RV process
There was an Article IV meeting in Jordan mid last month (in March). I have heard the IMF gave the green light to go ahead with their currency reform project and release the new rate.
The question is will they release it before or after the elections?
The CBI announced in an article last fall that we would see the RV take place prior to June 2014. If they do not do it very soon there are yet other complications to occur thus making a mess again for this RV process. I have talked above about some of this past and upcoming issues.
All my sources are all saying that all they are waiting for is to see the new rate released by the CBI.. That’s all. And while no one knows the date….all are agreeing it’s very close.
The public in Iraq have once again been notified of the pending international currency. They told their people weeks ago they would see a drastic change in the economy come April 1st. Here we sit April 3rd. So what happened? They are that close!
New Iraqi Currency Machines
A couple months ago an article was published that stated Iraq banks need better ways of detecting currency fraud and quickly counting money. As we know they already tried to disperse the lower denoms and they were recalled cause the announcement never happened.
In this process they discovered that it was difficult to disperse the new currency and wanted to eliminate the long lines at the banks. At this time they contracted to buy a series of these sophisticated currency machines. Now I am telling you these machines have arrived. They will be used to expedite the rollout of the lower denoms to the general public.
Let me also say once again that it’s not this foolish notion of the Iraq budget holding up the RV announcement but rather the CBI and only the CBI. The budget delays are because the currency must revalue first prior to any budget approval and implementation.
Once again will say I know for fact the budget in reality is done and already ratified. So once again this 2014 budget it not the holdup but a stalling tactic. The budget it controlled by the GOI and the CBI controls the money to support the budget. Two separate entities and two separate functions.
Budget second reading on Tuesday 4/1? Why did it not happen? Now news that it is once again postponed until Thursday 4/3? As long as we do not see the RV announcement they will continue to stall on this last budget reading. You many also see Thursday’s reading postponed.
Iraqi Elections (FYI)
Let me clarify when the types and time frames of the elections held in Iraq. There seems to be much confusion and I can’t understand why. It is public information.
I listen to many intel calls and I hardly believe what I am hearing for timeframes of this process. How can we trust their intel when they can’t even get the elections timeframe accurate? Something as simple as this! We must then ask ourselves this question– Do they also just make up the rest of their intel too? So let me set this straight.
There are only 2 election cycles in Iraq:
Parliamentary (or National ) elections are scheduled to be held in Iraq on 30 April 2014, however the voting usually begins in mid April since each of the provinces have varying voting time frames. The final conclusions for these top positions should be made around 30 April.
These elections will decide the 328 members of the Council of Representatives who will in turn elect the Iraqi President and Prime Minister.
You may also hear the term National elections which is the same as Parliamentary elections.
2) Provincial (or Governorate) elections were held in Iraq on 20 April 2013, to replace the local councils in the governorates of Iraq that were elected in the Iraqi governorate elections of 2009. Elections took place in 12 of Iraq's 18 governorates. Elections didn't take place in the 3 governorates forming the Kurdistan Region or Kirkuk, Anbar, or Ninevah, meaning that a total of 378 provincial council seats were up for election.
The Iraqi government later decided on 19 March to delay the elections in the governorates of Anbar and Nineveh due to ongoing instability caused by the insurgency and the ongoing protests, prompting criticism from Muqtada al-Sadr and John Kerry. Elections for Anbar and Nineveh were held on 20 June.
So the Provincial elections are concluded. Now you know the terminology and can challenge these gurus when they try to confuse you their nonsense.
What parties are running in the elections?
Iraq's Independent High Electoral Commission approved 276 political entities to run in the elections. Political entities appear on the ballot as part of a "coalition" (kutla) and under the constitution of Iraq the head of the largest coalition has the first call to become Prime Minister. However, in a precedent set following the 2010 election, a revised coalition can be formed following the election. This reduces the incentive for parties to form coalitions prior to the election.
The largest parties on the approved list include the Prime Minister's State of Law Coalition, the Sadrist Movement (Ahrar), the Kurdistan Democratic Party and the Iraqi National Accord. Significant new parties include the former militant group Asa'ib Ahl al-Haq and the White Iraqiya Bloc, which split from the Iraqi National Accord.
Iraq’s election season has now begun and should have no impact on the RV process.
So there you have it. The table had been set, the guests have arrived. We are just waiting now for the host to announce that dinner is being served so we can all participate in this long awaited feast. Yes- we are all so very hungry for so long!
I have tried to give a quick and brief overview of events that effected the revaluation of the Iraq dinar over the last 3 years. I know it is stressful but we are coming to an end to this process very soon.
I know the process fairly well but still they throw in monkey wrenches when we least expect it. By knowing these events and witnessing the pressure points we can now all see just how close we are.
Currently I am hearing the IMF is waiting for the CBI to make the announcement.
They have had recent meetings with the CBI and gave the green light to go ahead. They too have recommended the CBI go forward and complete the process.
However the CBI works for the country of Iraq and after all the country has been through with the war and political strife, they are being allowed to complete the process to own their needs and satisfaction. I am also hearing the IMF is allowing a time frame and will not allow this go much beyond the new target date.
As I said before I believe we will first see the announcement as it shows up on the new CBI web page. At this time or consecutively will be activated at the banks worldwide and the new rates will show up in the exchanges.
Will they only RV the IQD and VND? I am hearing all 190+ currencies are still set to go soon and together.
Peace and Luv To Ya.