"...he says that he asked his Iraqi contact why there was a hold up in the revaluation of the dinar. His Iraq contact said,
“What hold up? said my contact. We are just fine over here. All is well over here. The currency’s new rate has been activated mid Monday. It is $3.44 now as shown on posters in the windows at the banks….”
"So I asked myself...If it is activated in Iraq on Monday then why have we not seen it yet in the USA?
"I don't know said my Iraq contact. Thus I made yet another call to my contact in the IMF. He is telling me that any country that is not fully Basil III compliant will cause a delay in activation until the final requirements are ironed out.
"The USA is one of these countries. I was told this issue is now resolved (he told me how but I will not repeat it since you would not like the politics involved). I also agreed not to talk about it.
"The important part is the USA should see activation sometime during the next couple days. END QUOTE.
"Keep in mind that this is just one man’s report. If the banks are indeed posting an exchange rate of $3.44, others should soon report this as well. So far I have only seen one report of this, so it remains to be confirmed. On the other hand, the Fed's special meeting adopting Basel III suggests something big is happening.
...
"So it appears that someone has forced the Federal Reserve to comply with Basel III. Who is big enough to do that? China comes to mind. Or rather, the kings of the east, who have been pushing for asset-backed currencies for many years."
Comments
W&R, I don't know if the USD will be affected or not. If you want to get in on the Dinar RV, they are still being sold on ebay for ~$100 for 100,000 IQD. From what I have gleaned, it appears they should be US Treasury certified. Go through a reputable dealer and do your homework. I've never traded in foreign currencies and have zero experience, but if the information I've seen is good, a person could make some serious money.
I'm curious what the revaluation of the Dinar will mean to us who are barely getting by in the US. Will our dollars count for less now overall?