Highlights/Thoughts
PLEASE IGNORE THIS IF YOU DO NOT WANT TO READ RUMORS
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1. Person's Baghdad source says the RV will occur by June 2011
2. Maliki and his men have 100 days to get the act together and improve the citizen's lives
3. Everything is done: government; budget; security
4. Contact says that they are waiting for the new cash reserves of small bills that have more of the Kurdish representation on them
5. Kurdish representation is critical
6. There can be no RV until the banks get the small bills
7. A source inside the De La Rue mint says the new bills are being designed right now and some of the plates have been made. Printing will start soon
8. Some of the proofs may be shown behind closed doors at the Arab summit
9. Focus of the next 100 days is security and this will be achieved by working with the citizens
10. Security will occur when the population is appeased as ground is broken for all the civil projects to improve their lives
11. When the citizens see that work has begun security will increase dramatically
12. Rumor has it the rate is .56 IQD to $1 USD and this rate is approved bye the IMF and all other stakeholders
13. The timing of this coincides with the US assurance that full fledged membership into the WTO will happen by the end of this year
14. Source says RV is not necessary for the WTO entry as a full-fledged member, but it is necessary for security
15. Source says a lop is out of the question
16. Source says look for the CBI to stop auctioning IQD
17. When the auctions are halted, the RV is very near
this is a pretty ridiculous rumor. it's been shown over and over again that the banks have the small bills done. there is no printing to wait for. a .56 rate would kill iraq as all their currency could be bought up immediately and they would be broke. this is dumb...
ReplyDeleteTo add to this post, DeLaRue is not a mint, although they do produce coins their main focus is on paper currency, not coins.
ReplyDeleteI think this is a rumor like any other - largely without merit. However, the rate of .56 is a likely option as it falls in the middle range ($1.78 per Dinar). I would agree with your comment about Iraq being liquidated as a country, cyote, if this rumor poster had said lower than $1/Dinar. But those saying it's going to RV directly at $3+ don't know much about stabilizing a currency through the ForEx and foreign investor markets. I'm certain it'll get to that point after a year or so of pumping their nice, pure crude out of the ground and selling it through newly arranged foreign contracts. But to begin that high would scare foreign investment away as it has too much potential to eat far into their reserves and equity. I'm looking at $1.50 as a low-end and $2.25 as a high-end for initial release. It'll climb as foreign investment pours in and the country stabilizes from within but it will take time.
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