Dinarland Highlights - 11.6.16
It has been very difficult to control this corruption. Many ways have been tried. This in part has been the hold up of the launching of the new currency (the lower dinars) and going forward with the currency reform measures, as I am told by my CBI contact. As we know the CBI has already created a scarcity situation with the dinar in the process of the “project to delete the zeros”. They have told us they are ready and fully prepared to launch the lower denoms but had to postpone this effort due until the security situation in Iraq is fixed.
THE FIGHT AND PROGRESS AGAINST CORRUPTION HAS BEEN ONGOING SINCE ABADI TOOK OFFICE....BUT THESE ARE INTENSE STEPS AND COOPERATION BY CBI AND WASHINGTON TO CONFRONT AND ADDRESS THE AUCTION BREACHES...WHILE SIMULTANEOUSLY SETTING UP THE NEW ANTI CORRUPTION AML ANTI TERRORISM DEPARTMENT WITHIN THE CBI TO BE COMPLIANT WITH IMF MANDATES...AWESOME PROGRESS...
KAP [Guru Kaperoni] has rightly stated...that a minimum of $.10 for the value of the dinar would make it possible to begin removing the three zero notes. This means that we must look for a minimum of a 100 times increase in the value of the dinar sometime during the coming year. Second, the purpose is specifically stated to "support" the dinar and to make it a "competitor in world markets." At this point the dinar is not internationally recognized or tradable. Both of these factors must be eliminated for point number 2 to come to fruition. The only way in which they can "support" the dinar (in terms of value) and make it "competitive" in the world markets is to allow it to float and to rise to the point where the "support" and "competitive" value become real factors. I therefore expect to see the float start shortly after the new year. Third, this move will "serve the Iraqi economy." Clearly a move to a float and an internationally recognized currency will cause imports prices to fall quickly and allow for imports into Iraq more easily. This would, then, be consistent with point number 3 that the plan will "serve the Iraqi economy."
Finally, the statement is made that the dinar will takes its place in a "basket of currencies" that contribute to the "vital world exchanges." At present the only currencies that hold this sort of recognition are the dollar, Canadian and Australian dollar, pound, euro, and a few others. By making this bold statement, therefore, the author is re-iterating what we found from Saleh years ago namely that the dinar is going to become a world reserve currency. The only way in which the dinar can take this position is if it is internationally recognized, if Iraq is a part of Article VIII of the IMF Charter, if the value of the dinar is commensurate with that of the world's reserve currencys (worth about a dollar American, more or less), and is supported by reserves that PROVE that it is a strong currency. The current reserves of $40 billion are sufficient to make the currency the strongest in the world at $1 per dinar. Unlike the US, they won't need "the full faith and credit of Iraq" to support their currency. However, in addition to the highest relative reserves, Iraq also has the second highest known reserves of underground wealth in the world. Therefore it is well positioned to take its place as a world reserve currency as long as they stick to the plan. The bottom line for me is that this article, even if it is repeating a plan elaborated over a year ago, is more specific and continues the timeline from that earlier article. 2017 would appear to be the year when this will all truly begin to move forward. Keep your fingers crossed!
Iraqi Dinar Revaluation and Global Currency Reset News | Dinar Chronicles
Courtesy of Dinar Guru