One of the many meetings going on is with the IMF at an executive level with the banks of Iraq on the subject of the new exchange rate and the new small category notes…they were presented multiple exchange rates…when they tell the citizens the new rate and they show them the new notes – it’s the onset. 1. At the onset they will release their currency at the 1 to 1 rate (In the very near proximal future). 2. The CBI has been given a benchmark to collect a certain amount of the 3 zero notes…the time frame is not carved in stone. 3. These meetings are to conclude the re-denomination of the new small category notes.
Number one…They have a time frame that is solid…the onset of 1 to 1 is for the citizens domestically because a dinar is a dinar but it’s also for the International world… Number two represents an adjustment in the exchange rate of 1 to 1 when the CBI reaches a certain assigned benchmark of collecting the 3-zero notes. They need to collect a particular number…of notes and a particular value…before the second increase in the exchange rate… Number three is the conclusion of #1 and #2…the time frame is unknown. We don’t know how long it will take them to collect the 3-zero notes…Number 4 Internationally IMO I see this thing capping at $4.25…IMO about 8 months for it to reach that cap. You gotta know when to hold’em and when to fold’em.Tags: walkingstick /