Yes- the goat is back! What a nice day in Bavaria today. Crystal clear blue sky and a nice mountain breeze from heaven!
Are we all anticipating this RV any moment now?
Who could have ever imagined I would be writing this post July 28, 2013. Amazing...
I was finally able to return calls back to Iraq and IMF. This is what I have been told.
First they said to ignore any further news about the activation of the SMART cards as the hold up to the RV. The cards are all loaded and tests are now all complete.
Also the Iraq banks have the new lower denoms and the replacement notes for the torn existing bills 50, 250, and 500. There is also a set of new coins waiting to be dispersed as businesses and individuals will need these for convenience.
There are no political obstacles in Iraq that would hold up the RV. All necessary politicians and CBI agree to the implementation to go international.
The hold up is now thrown back to the IMF court for activation. Kind of like a basketball game...lol...In fact the Iraq economic committee and finance ministry are very upset that they have had such past pressure from the IMF to get their house in order. Also for their requested delays since April and yet now where is it when all is resolved?
So I asked if this is all true, then what is holding this up?
The answer was that it was not Iraq. It has been ready to go since last Friday. Last Monday they ran the algorithm for the second time for all the 198 currencies.
If you can remember in the past there was only about 50+ currencies in basket one. Now most of the currencies are all in the same basket, basket one.
Since this was such a big undertaking there were some technical issues once again. These issues caused them to miss the window of opportunity to complete the push to FOREX and to the international banks.
They must now wait again.
I asked- so what is the window criteria? I was flat out told that this is classified information and is part of the algorithm that is very sensetive and cannot be revealed to us.
It is kind of like the underwriting rules used to rate an insurance policy. It is the bread and butter of this effort.
Needless to say we did miss the opportunity this past week and must now wait once again. It is not a day by day watch as some think. It is timely event. Our next opportunity will not come again till after Aug 1st Thursday which begins the next cycle. So we wait.
There is also some banking legistation coming into activation on Aug 1st needed for the control of the money. It could have gone without these laws but since they missed the last window they will wait to a minimum until after Aug 1st.
I wish I had some better news but the IMF contact was not optimistic in us seeing this prior to maybe next Thursday Aug 1st. He also said its not like there is even a track anymore to follow so I can't say "its right on track" anymore. There is nothing else to do but wait for the timing unless other issues crop up.
Cheer up there is some good news
The good news is that the rates that are being pushed down to the banks are very high and it almost knocked me over when I was told. If they were successful in this last attempt I think we would have all have been very, very happy the rates were so good.
I am also told that unless the VND comes out initially over $1 + do not exchange it since it is expected to very quickly increase post RV. I was told there are also a couple other "sleeper" currencies that also will shock you at their initial rates.
Peace and Luv to ya all,