Source: Dinar Daddy’s Tidbits
URL: http://feedproxy.google.com/~r/115/BKGb/~3/-GI6yTZw61I/

Greetings PD Members

Ray and I have been working and digging very hard for more information so we can share with you regarding your investments.

So for all of you that doubted us, here is what happened. There was a press conference held last night. Here is what Ray said and I think it is very good news. If you have any questions just post it in a reply and Ray and I will try and answer them as quickly as possible.

STEVE, JUST GOT OFF THE PHONE WITH ONE OF MY IRAQI CONTACTS. HE HAS A FAMILY MEMBER IN BAGHDAD THAT HAS A FRIEND THAT IS A REPORTER THAT WAS AT THE PRESS CONFERENCE THAT WAS HELD LAST NIGHT. THE CONFERENCE WAS HELD AT 10:30AM BAGHDAD TIME. IT LASTED FOR 2 ½ HOURS. SHABIBI WASN’T THERE, HE IS OUT OF THE COUNTRY BUT NO ONE WAS TOLD WHERE HE WAS. THE PERSON GIVING THE PRESS CONFERENCE WAS MOHAMMED SALEH MUDHER. NOT SURE OF SPELLING OF LAST NAME. MANY QUESTIONS WERE ASKED ABOUT THE DINAR AND REVALUE. HE STATED THAT THE IQD WOULD BE HIGHER THAN THE USD VERY SOON. HE WOULD NOT GIVE A DATE. JUST SAID VERY SOON AND THAT THE IQD WOULD BE HIGHER THAN THE USD. HE SAID THE MONEY IS READY AND IS IN BOXES SITTING AT THE CBI AND OTHER WAREHOUSES AROUND IRAQ. HE SAID SOME OF THE NEW DINAR WAS SHIPPED TO SOME BANKS IN SOUTHERN IRAQ AFTER THEY COMPLETED THEIR INVENTORY. OTHER BANKS HAVEN’T COMPLETED THEIR INVENTORIES YET AND THUS HAVE NOT RECEIVED THE NEW DINAR. CBI IS WAITING. ALSO, HE SAID THAT NEW COINS HAVE BEEN PRINTED AND ARE READY. THERE WILL BE 5 OR 6 DIFFERENT DENOMINATIONS. ALSO, HE SAID THAT NOT ALL BANKS WILL BE RECEIVING THE NEW CURRENCY AT FIRST. ONLY ONES IN AREAS BASED ON POPULATION. HE ALSO SAID THAT WHEN THE REVALUE TAKES PLACE, THE BORDERS WOULD BE CLOSED FOR 24 TO 48 HOURS AND THE BANKS WOULD BE CLOSED ALSO. HE TOLD THE PEOPLE NOT TO PANIC DURING THIS TIME THAT THERE IS NOTHING WRONG. IT IS ONLY WHILE THEY REVALUE THE CURRENCY AND SWITCH EVERYTHING OVER. HE ALSO STATED THAT THE PEOPLE IN COUNTRY WOULD HAVE 20 DAYS TO CASH IN AND PEOPLE OUTSIDE OF IRAQ WOULD HAVE 30 DAYS. STEVE AND I REPORTED SEVERAL MONTHS AGO THAT IT WAS 30 AND 45 DAYS. THEY HAVE CHANGED IT JUST A LITTLE. HE KEPT STRESSING THAT THE RV IS GOING TO HAPPEN VERY SOON.

I TRULY FEEL WE ARE ALMOST THERE NOW. JUST AROUND THE CORNER. THIS NEWS WILL BE REPORTED IN THE NEWSPAPERS AND TV VERY SOON. I’M NOT GIVING THE REPORTERS NAME OUT OR THE CONTACT IN IRAQ. IF ANYONE DOUBTS THIS INFO, WHICH THEY WILL, THEN YOU CAN DO YOUR OWN DIGGING AND BRING PD WHAT YOU FIND INSTEAD OF BASHING. I KNOW DV WILL BASH BECAUSE THEY DON’T HAVE ANYTHING OF THEIR OWN. I’D SURE HATE TO PAY FOR THAT SITE. WILL BRING MORE LATER AS I GET IT. HAVE A BLESSED DAY.

BLESSINGS,

RAY

******************************************************************************************************************************** Central Bank Defends Weak Iraqi Dinar

Iraq’s Central Bank says it will not allow the Iraqi dinar to depreciate and has been selling hundreds of millions of dollars to keep the currency stable, according to a report from Azzaman.

The dinar weakened in December, prompting the bank to sell dollars in a bid to withdraw cash from Iraqi markets.

The bank did not say what caused the dinar to plummet to “lows it had not seen for years”, but officials privately say the plunge might have been due to political uncertainty in the region.

Mudher Saleh, Central Bank’s deputy governor, said there were no sound economic reasons for the currency’s weakening, but speculated that it might be the economic difficulties Iraq’s neighbours are facing, particularly Syria and Iran.

The bank coffers are said to be brimming with hard cash from oil sales.

Saleh said the bank would not let the dinar fall and in one day in December last year it sold $ 200 million on the open market to squeeze liquidity.

“We withdrew in one single day about one quarter of a trillion dinars, thereby brining stability to the currency,” Saleh said.

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