• There are a few who also do not want to hear the RV is “near, close, soon” etc; Frank will not talk about timing – Delta will, but Frank needs to reduce his stress so he will stop discussing timing
• Gearhead post 321: Article collapse of dollar exchange rate expectation in Iraq, and discusses rate of $3.30; is this the exchange rate? No one knows. The article is full of very good information, go back and read again.
• S is working only with the IMF now
• The report that Frank received last night from I Team was all validated today
• The IMF is all over the dinar; the IMF has been working with Iraq on monetary reform since 2004; IMF tells countries what they can do with their currency; on March 27 IMF told Iraq they could raise the rate; the rate has been established with a resolution at the UN; IMF has final say when the rate will appear
• At meetings I Team attended (to provide security) with high level people about a month ago, the GOI was convinced to get away from M; they have not actually replaced him as PM, but they are done with him and they are dealing with B
• laws being passed in front of us; IMF wants to take what UN has to trigger it; all very good
• As always, there is no date or rate!
• there is a report that Frank believes is sincere: NASDAQ opening with ringing the bell, and it’s believed that Iraq’s Minister of Economics will ring the bell – that really telegraphs a message
• The resolutions at the UN when they met with S and Z contain a date and rate
• Frank’s opinion that Iraq will not see CH6 until they raise the rate; it’s believed that Ban Ki Moon released the paperwork today moving Iraq into CH6, Ban Ki Moon today signed the paperwork of the resolutions with the date and rate
• Frank’s broker reported they can no longer order IQD thru the nation of Jordan; Jordan is a major currency broker in the ME; could be a number of reasons, but this also is large piece of information
• One of Frank’s contacts in Georgia was contacted by the head of WF’s private bankers in the region who wants to talk – no more “it’s a scam,” now it’s “how can we help you” Delta
came on the call at this point, and the lines were opened for questions:
Q: What is Delta’s take on what’s going on with M? Will he be removed from office? Delta:
A lot of people are against him, however M was helpful to remove Iraq from CH7. A lot of ups and downs with him, and a number of accusations that may or may not be true any time something happens.
Looking at politics, where is it worse to live right now, Iraq or Egypt? Egypt.
Even so, Egypt’s monetary policy is stable; even with political issues, currency is stable. Same with Iraq – even if the political situation is troubled, the monetary policy can be stable.
Another issue is religion, there are Sunni and Shia factions in Iraq. M is a Shia, but the surrounding countries are Sunni, so creates friction. No one can take down M, except by his demise.
He’s very powerful and in some ways popular. When M senses he is in trouble, he does whatever it takes to hold onto his position.
Q: Frank asked Delta if he had the meeting yet with the GOI member? Delta:
No, it was supposed to happen last week but was moved to next week.
Q: If the process completes before the date that was set, can the RV proceed, or do they need to wait on the date? Delta:
They need to wait on the date. Delta and his contacts agree that Iraq does not have control, the key is in someone else’s hands. Delta thinks the process is done and they are waiting on the date to execute the plan.
Delta does not know the date, he only believes in his opinion that it’s near, and anything could happen at any time.
Delta’s advice is this is the time to be very strong and to be very patient; if we look at history, this year is very different, and Iraq is out of CH7 so they are obligated to follow some instructions – all these are markers that we are close.
All know that 1166 is a program rate, and if the rate will stay at 1166, it would be tradable internationally, but it’s not.
Q: Since we have not seen the rate, has the 2013 budget opened? Delta:
No, have not seen it, and a lot of people are not paid yet. Even so, they are already talking about the 2014 and 2015 budget!
Q: Aware of any time frame that the UN/IMF gave Iraq to raise the rate Delta:
Actually Iraq is waiting for the green light from outside – in Delta’s opinion they are not in control. Recall that the state banks were aided to restructure and clean up their processes; the statement in report was clear that the IMF is control.
Delta’s research is that the USA, UK and IMF are in control. Even now, the LD’s are all printed in UK, and was sponsored by the World Bank. Delta’s opinion is the green light will come from outside of Iraq.
Q: Frank says Iraq will not see the keys to their shackles until they raise the rate – if they don’t control, how can Frank continue to say that? Frank
: the message is for GOI and CBI to get their act together and get prepared, but if they don’t do it in time, the IMF will force it. Delta:
The announcement still needs to come from Iraq. Think of laws passed in USA, the lawmakers announce it but the lobbyists are really in control. Same in Iraq, they don’t have the control, but they must manage the laws and be prepared and the announcement will come from Iraq.
Q: From last night’s call, I Team reported that the UN will announce the RV; what is Delta’s opinion? Delta:
In his opinion, the announcement of the rate will not come from UN, but thinks the IMF/UN will announce that they have moved them from CH7 to CH6.
The RV announcement must come from the Central Bank in Delta’s opinion, and the UN will make announcements regarding the sanctions.
Q: There have been many articles over the years that Iraq is not in control of the RV; with as fragile as security is in Iraq, and the Abu Ghraib prison break, why aren’t the ones in charge controlling the situation? Delta:
Again, look at Egypt, it’s worse than Iraq – but look at their currency over the past 3 years – it’s not affected. The stock market collapsed, but not their currency.
Most of the problems at the check points are due to the security personnel taking money to allow someone thru.
Delta’s opinion is that stability will not come overnight even with the rate, it will take some time. What will really bring stability is employment. Income for the average family in Iraq (parents with 4-5 children) is $2 per day; the 10 million citizens need employment, they are not looking for a rate. When the citizens have employment, they will not need to take money for those activities.
Q: How confident that LD’s and coins have been distributed to banks, and status of HCL? Delta:
Has more than one confirmation that the LD’s have been printed (from Aug 2011) and there was even an article that the CBI sent a sample of the LD’s to parliament; LD’s believed to be done. If see Kurdish language on any note, it’s the new currency.
The parliament is still working on the HCL. Delta’s opinion is the HCL will not precede or trigger the RV, his opinion is opposite, that the rate will come out and then the HCL will be passed.
Q: Has the census been started yet? Delta:
All the tools are in place, they are ready to do the census. The Kurds are demanding the census to increase the % of the revenues they will receive, but Delta’s opinion is that this does not affect the monetary policy.
Q: What is the value of the dinar on the street? Delta:
It fluctuates, but around 1200 – 1300. The CBI is doing a good job of controlling. This again shows that Iraq is not in control, or they would just say “no more dollars” and just use dinar.
Q: Article about 2014 budget with exchange rate at $1.16, then another article came out with exchange rate at $3.30; which is correct? Frank:
The article with $3.30 was talking about wanting to go back to the value during the Saddam days. Most likely it will come out at 1:1 IN country, which is around the $1.16 rate. However, that’s IN country; this will increase the citizen’s buying power. However, OUTSIDE of Iraq the market will drive up the value with investment in Iraq.
Q: What is the projected growth rate, and have they completed their fiscal policy reform (banking laws)? Delta:
The TARP law was one of the most important, passed in 2010, but had some problems, and they revised some of the law. The IMF came up with the report that the reform must accelerate in Iraq.
All news is good. IMF article quoting growth rate at 9%, but imagine what will happen after the RV. The foreign investment will boom, and in Delta’s opinion the growth rate will go over 9%.
Q: Does the census really need to be done, or is it being used as a shield to get a few extra days? Delta:
No, it’s all about money. The Kurds want the census to hopefully increase the % of the budget they can receive as their population is higher than at the last census.
Q: Will M get a third term? Frank:
No. In his opinion it will not happen, and even articles out of USA say no. B came out with a statement that he will not seek another term, and the only way that M could get a third term is to steal it, but that simply will not be allowed in Frank’s opinion. Bluestar
came on the call at this point
• The prison break at Abu Ghraib released about 1,000 people; is this report “smoke” or did it really happen?
• Delta replied
that some of the guards actually helped Al Qaida when they were offered bribes, so essentially an inside job; but just as he said earlier, until there are good jobs and enough income, will continue to see this type of activity; people will do anything to feed their kids, need to provide employment to bring stability
• Delta also stated
they did capture most – not all – but of the escaped prisoners; the ones that got away will probably go to Syria; Delta said still in his opinion that it does not affect the monetary policy
• Frank prefaced
Bluestar’s report on Eagle1’s intel with be calm, and THERE IS NO DATE AND THERE IS NO RATE; TAKE THIS INTEL TO GOD IN PRAYER
• Bluestar received some intel from Eagle1, but also received the same intel from 2 – 3 other sources; the intel from Eagle1
“At SeaTac at the moment. Not in a place for appropriate telephone conversation so let me give you some good intel highlights:
1. Secret Service eyewitnessed Dr S sign release of date and rate.
2. Dr S transmitted info to Ban Ki Moon at UN.
3. Eyewitness was with Ban Ki Moon this AM. Saw signing off of the same paperwork and subsequent transmittal to Director of FOREX.
4. Director of FOREX given permission to push the button. Admins all have the numbers already.
5. Mainstream news media reporting that Iraq will ring the bell tomorrow close for the NYSE.
Believe CBI will release numbers between 2:00 and 4:00 AM tonight with FOREX to follow immediately, along with UN Operational Rates of Exchange.
We may be able to exchange at banks tomorrow but more likely Thursday.
Believe we are there finally!“
• Another report that Bluestar received from another source has the same information but with much more specifics and timeline for tomorrow, including security check point tent, remarks by Ban Ki Moon, NY State controller, corporation CEO; seeing layering of information from multiple sources all saying same thing, very high level of specificity, could be very real, it’s 3 different sources, and it’s very exciting
• FRANK BELIEVES IT IS GOOD INTEL, BUT HE DOES NOT BELIEVE WE WILL SEE IT ON THURSDAY; HE RESPECTS THE SOURCES AND THE INFORMATION, AND THAT WE ARE VERY CLOSE,
BUT DOES NOT BELIEVE WE WILL SEE IT ON THURSDAY; HE BELIEVES THEY ARE STILL FOLLOWING THE PROCESS AND GOING TO THE DATE SET IN THE UN RESOLUTION
• Bluestar asked Delta’s opinion – Delta said that Qi cards are scheduled to be international by end of July, so yes it can go at any time, no one knows the date/rate, but he is looking more to the end of July
• Delta said the next 2 Thursdays have been made official holidays – using heat as excuse, but if that’s true, should have shut down the entire month
• Iraqia TV is talking about increasing the rate of the dinar and also reporting on the many complaints about the physical condition of the currency, needs to be replaced, but they are still holding on to the LD’s
• Frank asked everyone to get questions ready for Delta, and ask him specific questions
• FRANK ASKED TO TAKE ALL THIS TO GOD IN PRAYER!! If there is any incorrect intel, it will be corrected on tomorrow’s call
• Frank ended the call with singing “Amazing Grace” and prayer, and Andy lifted the prayer with the shofar horn blast