hursday, June 02, 2011 6:06 PM
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Wednesday, June 1, 2011, 4:03 PM
Post by webincome Today at 10:35 am
I just got off the phone with my personal banker at a XXXX bank in Florida .
My personal banker told me during our conversation the XXXX banks would be fully operational as XXXX branches on June 13, 2011.
During our conversation I asked a few questions;
1) Will all branches be fully integrated with XXXX?
ANSWER: Yes, all systems, signs and bank policy takes effect June 13th
2) Do you now have or will you be receiving De La Rue machines for currency transactions? (XXXX did not have them previously)
ANSWER: Yes, before June 13th
3) Have all employees been trained in the use of De La Rue machines and currency transactions?
ANSWER: No, but in process and to be completed before June 13th
4) Are you aware of the impending increase of the Iraq Dinar?
ANSWER: No, but we have been told to expect a large volume of currency transactions in the near future.
I got the feeling the training had been completed and she was just not able to give me completely straight answers. The changes being just 12 days away for Whachovia does not give them much time to complete everything if it has not at least been started.
In any case, another piece of the puzzle.
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From GET forum
Will Iraq 's currency, the Iraq Dinar, revalue soon? The answer is "yes!"
1.DFI (Development Funds for Iraq ) runs out. Not a rumor! If this runs out, they lose their protection against law suits from claimants from the previous regime. http://articlesofint...raq-and-un.html
2.CBI report states that the RV has to be done by June 30. (Page 38 "Revalue" ) http://www.imf.org/e...2011/cr1175.pdf
3.UN recognizes IQD as a viable currency once it revalues http://treasury.un.o...ionalRates.aspx
4.Bagdad Ministry of Planning (MOP) makes future rate projections can be as low as $1.134 dollars, but most likely will be near the $4 USD mark http://www.mop.gov.i...&pid=295&lng=en
5.In an article titled, "The Recent Iraq 2011 Budget May Have Leaked the Coming Currency Revaluation" you'll see some guestimations of the RV happening at .855 USD, which is where you are hearing rumors of the .86 cent claims.
6.Based on Iraq Government and Banking documents posted in public view, we should see an RV before the end of June, probably as soon as they can now and the rate should be over 3.20 USD to 1 IQD. This is not based on inside information or some hidden inside source, this is based on Public documentation. No guess work, it is what the Iraq government and CBI have already told us.
7.UN accepted budget projections for Iraq are $90.1 billion. However, oil revenues are estimated at only $26.1 billion. 90.1/26.1 = $3.452 USD just to meet their existing UN approved budget. It is probably safe to assume they will include additional government spending so that's why you are hearing estimates for the RV rate as high as $4.41.
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In another article "The Iraq Revaluation Soon" this paragraph ended the article, "Recently, the Iraqi Government stated "We have promised the people of Baghdad and Iraq that the next four years will be the phase of construction and better economy, and we will live up to our promises"
So, to answer the original question asked above, "Will Iraq's currency, the Iraqi Dinar, gain value compared to other world currencies soon?"
Absolutely, YES!... Because a new government is in place, and old oil fields are getting back on line, and new ones are being discovered, and the security has been restored. Iraq also had a lot of debt piled up owing to many other countries. And most of that debt has been forgiven by those countries. What will keep the currency revaluation from happening now?
Common sense and public information seems to indicate it should happen very soon! There is no reason for further hesitation!
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