BGG says we are close

Normally, I would do a quick conference call to fill you – I mean who needs a 3 hour call to yammer on and on?? However, since I have a terrible head cold I can’t do a call. With the news the way it is and some of my recent conversations, I really wish I could. Relax though – good news, here it is anyway.

Mr White and I were on a call the other nite… the jist of the conversation centered around this article published around April 11th… ( we were very excited to bring it to you on a call  )

Parliamentary Finance proposes to make large cash categories   LINK

We believe they are saying it is not larger denominations, but smaller denominations with a larger value. – 1, 5, 10, 20, 50 and 100’s

This is Iraq’s way of saying we are about to…delete the zeros (through appreciation) and releasing new “higher value” bills.
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One excerpt even says…

“expected to” measure will reduce the demand for the dollar and away by all the dollarization of the Iraqi currency and the sale, purchase, exchange and trade in Iraqi currency instead of dollars. “

Further – much of the recent rhetoric is starting very much to sound like an educational campaign to their citizens. Seriously (this was part of a Shabibi plan)

I have recently heard some people expressing frustration over “being on this roller coaster ride”… Wait a sec. No one promised us anything. We bought Dinar as an investment. The only thing it offers is a chance. I, for one – am most thankful to be in on it.

Are we close?? IMHO – Most likely – 2 days, 2 weeks – 2 months?? Tough to say… but close. There have been way too many goings-on in the Iraqi Finance/currency world lately for there not to be something up.

I even heard recently – it is likely Iraq will need to add value (while still in Chapter 8 ) to even be considered for entry into Chapter 14 – which is why I have constantly said “not to worry” – I have thought much the same all along…

Again, there is NO CHINESE CONTRACT RATE, there is no Dragon family angle… there isn’t a “secret group” you need to send your Dinars to… DON’T DO IT!!

The only place you should take your Dinars are a legitimate exchange location – such as a bank (when the time comes) or if putting them into a real live “Roth IRA” – complete with a lic, bonded, insured and trusted holding co. Not one of these fly-by-night SKR operations.

The auctions have restarted – but relax… I am encouraged. They are working hard on monetary policy.

 Dr Shabibi shows up at the IMF meeting in Kuwait City (for whatever reason) – the auctions restart (which were Shabibi’s main instrument). 

Abadi points out he’ll replace critical Maliki appointees – namely, the CBI Gov… and with the auctions the CBI pretty much has to declare autonomy from the GOI and Parliament – meaning they can’t abide by the 75 mil per day limit Parliament put on them. 

FYI – Dr Shabibi was also a big “separation” of the CBI and GOI kind of guy – very much into the autonomy of the CBI. This move has his prints all over it. JMHO.

It stands to reason they would enlist his help – he is one of the architects of the MR plan…not impossible to think he would be a legit contender for the CBI Gov again if they remove Alak anytime soon.

So if you don’t like being on “the roller coaster ride” – get off it. 

Quit letting these internet idiots keep yanking your chain. This is an investment. Plain and simple.

BGG