Today we have seen lots of information coming out. There have been meetings going on, and these are very high top level meetings. As I said in my last blog, the UN has given Iraq specific instructions to get everything done and now. The UN will not allow for anything less. There is a currency over haul that has to happen and now. The Dinar is just the beginning of all of it. With all of these meetings going on about the security situation and oil and gas laws that must be passed. We see that Iraq is under an immense amount of pressure. When I say Iraq I am mainly referring to the government. The time for Iraq to strike has come and gone, so we are in extreme overtime.
At this moment there is a delegation headed to Iraq from Kurdistan, a region of Iraq, and they are on the way to deal directly with the security ministries and oil and gas laws. This meeting will resolve all outstanding issues or there will be a vote of no confidence. There will be a ton of new information coming out this week. A lot of it will be directly misleading. The government if all go's accordingly will get all the major issues finished this week and we could see some major financial sector overhauling start.
The CBI is releasing articles again today stating it is time to implement the deletion of the 3 zero's. There is a lot of speculation going on over the deletion of the zero's. Some say this means to LOP the currency. could they do that? Absolutely. Will they do that? Highly doubtful. The Iraqi government does not want a lop. The affiliates that make up the government also hold a lot of ( IQD) and they would stand to loose as much as investors. With a little luck the government will make sure that the CBI will do the right thing as they are not in any type of hyper-inflation. There is no need for a lop. That is plain and simple. Now a re-denomination is a completely different animal. An RD could mean lower denominations will be released and the old currency phased out. That would be great. Iraq would get lower denom's and we would see an increase in the value. So as you can see there are several ways this could play out. Keep your emotions under control. Whatever is going to happen will happen soon, one way or another.
At this moment there is a delegation headed to Iraq from Kurdistan, a region of Iraq, and they are on the way to deal directly with the security ministries and oil and gas laws. This meeting will resolve all outstanding issues or there will be a vote of no confidence. There will be a ton of new information coming out this week. A lot of it will be directly misleading. The government if all go's accordingly will get all the major issues finished this week and we could see some major financial sector overhauling start.
The CBI is releasing articles again today stating it is time to implement the deletion of the 3 zero's. There is a lot of speculation going on over the deletion of the zero's. Some say this means to LOP the currency. could they do that? Absolutely. Will they do that? Highly doubtful. The Iraqi government does not want a lop. The affiliates that make up the government also hold a lot of ( IQD) and they would stand to loose as much as investors. With a little luck the government will make sure that the CBI will do the right thing as they are not in any type of hyper-inflation. There is no need for a lop. That is plain and simple. Now a re-denomination is a completely different animal. An RD could mean lower denominations will be released and the old currency phased out. That would be great. Iraq would get lower denom's and we would see an increase in the value. So as you can see there are several ways this could play out. Keep your emotions under control. Whatever is going to happen will happen soon, one way or another.
