(Thank you John for emailing this to Dinar Recaps.)
The news is telling us that because of the terrorists in Ramadi and Anbar, the Sunnis and Shiites are finally coming together and because D.C. is requiring Iraq to pass the National Guard Act, the Iraqi Parliament completed its second reading of the law yesterday! Yay! It's motivation was that the military needs weapons and D.C. would not give any more weapons until the National Guard Act is passed. That brings ALL fighting forces in Iraq under one chain of command and makes the Iraqi government fully accountable to the United States for these weapons. Here is the big deal about that:
The National Guard Act indirectly implements Article 140 pertaining to the Kurdish territories (disputed territories) in Kirkuk primarly. This nearly resolves that long standing problem, more unity! We get two prizes for one effort. (it also brings together the Sunnis and Shiites)
The Parliament is close to passing the Federal Court Act as well. This is needed before the government can release Sunni prisoners who were wrongly imprisoned over the last eight years (about 120,000). The passing of the Federal Court Act paves the way to pass the Amnesty Law, Accountability & Justice and the De-Baathification Law.
The news is telling us that because of the terrorists in Ramadi and Anbar, the Sunnis and Shiites are finally coming together and because D.C. is requiring Iraq to pass the National Guard Act, the Iraqi Parliament completed its second reading of the law yesterday! Yay! It's motivation was that the military needs weapons and D.C. would not give any more weapons until the National Guard Act is passed. That brings ALL fighting forces in Iraq under one chain of command and makes the Iraqi government fully accountable to the United States for these weapons. Here is the big deal about that:
The National Guard Act indirectly implements Article 140 pertaining to the Kurdish territories (disputed territories) in Kirkuk primarly. This nearly resolves that long standing problem, more unity! We get two prizes for one effort. (it also brings together the Sunnis and Shiites)
The Parliament is close to passing the Federal Court Act as well. This is needed before the government can release Sunni prisoners who were wrongly imprisoned over the last eight years (about 120,000). The passing of the Federal Court Act paves the way to pass the Amnesty Law, Accountability & Justice and the De-Baathification Law.
We still need to see the HCL (Hydrocarbon or Oil & Gas Law) passed.
The articles on the 50,000 Dinar note (or coin) recently started coming from the CBI, so now I can believe that the CBI is going to use these as a temporary measure to reduce the note count and get some consumer spending moving. At first I thought this was inflationary and the CBI wasn't going to do it, but now I can see it has been part of the plan since 2011. This will allow the 5,000, 10,000 and 25,000 notes to be replaced with the 50,000 note (or coin). Remember this is only temporary (my guess is three months), and I think the notes are ready to be put in circulation as early as this June, in a couple of weeks.
Watch very closely after this happens, you will see restrictions on the use of the US Dollar in Iraq and eventually, a near total ban on the USD in Iraq (pre-RV). Maybe the CBI issues a 100,000 Dinar note (or coin), I don't know, I don't care, what we need to understand is that this is good news because it shows that the process of monetary reform is underway. As stated by Dr. Saleh, this is the path toward "deleting the zeroes" and revaluing the currency (increasing the value against the USD).
Watch Sunday (5/24) for the passing of the National Guard Act, I'm optimistic. It seems like this is not related to anything we care about, but it really is because it makes way for more stability and what we want, a stable economic environment leads to a revaluation of the Dinar.
My personal speculation aside from the news is that we may also see talk in the news of the completion of bank mergers in Iraq. This may happen so that some of the banks can satisfy the liquidity requirements of phase three (underway now). Some banks are not able to meet these requirements so a merger keeps them in business. I think when we see news on the completion of bank mergers in Iraq, we are days or weeks away from the revaluation.
The articles on the 50,000 Dinar note (or coin) recently started coming from the CBI, so now I can believe that the CBI is going to use these as a temporary measure to reduce the note count and get some consumer spending moving. At first I thought this was inflationary and the CBI wasn't going to do it, but now I can see it has been part of the plan since 2011. This will allow the 5,000, 10,000 and 25,000 notes to be replaced with the 50,000 note (or coin). Remember this is only temporary (my guess is three months), and I think the notes are ready to be put in circulation as early as this June, in a couple of weeks.
Watch very closely after this happens, you will see restrictions on the use of the US Dollar in Iraq and eventually, a near total ban on the USD in Iraq (pre-RV). Maybe the CBI issues a 100,000 Dinar note (or coin), I don't know, I don't care, what we need to understand is that this is good news because it shows that the process of monetary reform is underway. As stated by Dr. Saleh, this is the path toward "deleting the zeroes" and revaluing the currency (increasing the value against the USD).
Watch Sunday (5/24) for the passing of the National Guard Act, I'm optimistic. It seems like this is not related to anything we care about, but it really is because it makes way for more stability and what we want, a stable economic environment leads to a revaluation of the Dinar.
My personal speculation aside from the news is that we may also see talk in the news of the completion of bank mergers in Iraq. This may happen so that some of the banks can satisfy the liquidity requirements of phase three (underway now). Some banks are not able to meet these requirements so a merger keeps them in business. I think when we see news on the completion of bank mergers in Iraq, we are days or weeks away from the revaluation.
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