TERRYK EMAIL POST

The Intel coming in is that major US corporate banks and the Central Bank
of Iraq are all being asked to watch their computer screens over the weekend
for a change in the Iraqi Dinar value. The thinking is also that, because
Monday is a US banking holiday, it will give the US banks a chance to have
an extra day to be ready for the flurry of activity that this will generate
for them. But, I have to say I have trouble with this thinking and that's
what makes me wonder if it will occur over the weekend. The idea that this
news will be released at a time when everyone in the whole world can
participate EXCEPT the American people seems odd to me. So, if this is going
to happen, it's my opinion it won't happen until overnight Monday our time
(UNLESS the US banking system really WANTS that holiday Monday to get
organized to deal with the chaos involved in the dinar exchange and, in that
case, the RV release then could be announced over the weekend.).

In other news: In the past I have told you that Iraq was invited into the
WTO (World trade Organization) and it is well known that a country can't be
invited into the WTO without a currency that can be traded on the world
markets. So, we deduced at the time that this meant that a RV had to happen
simultaneously with that announcement, but no RV happened. I recently saw a
reference that Iraq was an "Observer Member" in the WTO and was being
positioned to be a "FULL MEMBER." That implies an RV release is imminent
(after all, why would they bother inviting Iraq unless it was imminent that
it could be a full member) and it also explains why the RV announcement
wasn't made then; we deduced incorrectly because we didn't have all the
facts.

The same situation applies to being invited into OPEC (Organization of
the Petroleum Exporting Countries; made up of 13 oil-producing countries)
which also made us think that an RV would happen simultaneously with that
announcement, but it didn't. So, I am deducing that Iraq is not a full
member of OPEC yet either, because it can't trade with anyone but itself,
therefore it wouldn't be considered a "player" in terms of oil-producing for
the world. But, again, why would they bother inviting Iraq if the RV
announcement was not imminent.

There are some other clues to a possible OUTSIDE date deadline for the RV
announcement. That is, clues to the LATEST date the RV release announcement
could be made. One is that there is a law in Iraq that a new law can't be
passed within 30 days of the election. The purpose of this law is to prevent
the ruling party from surprising everyone with a law that could cause an
advantage for them over the other candidates. In other words, to prevent
corruption. The elections are slated for 3/7/10. The 2010 Iraq budget has
not yet been passed and it must be passed before 2/7/10 because the passage
of the budget will be a law and therefore it applies here. In most circles
studying this, there is a general consensus that Iraq does not have the
money to execute the budget they need to adopt, and the only way to get the
money needed to run the country is through a revalue (so trade can occur
with other countries and bring in revenue). Therefore the revalue must
happen before they can!

The budget (meaning the revalue release announcement must occur by
2/7/10). Note: An article that came out today (dated 1/17/10 in Iraq) says
that the meeting to vote on the budget is Tuesday 1/19/10, Iraq time. If the
revalue release occurs just before that meeting, then they could pass the
budget in the meeting because they would know they would have the money to
do everything they wanted to do in the budget. So, is this budget meeting
scheduled because they know the revalue release will be happening before it
(that is, by Monday night Iraq time)?

The January 16 elections had to be moved to March 7 (also allowing a
delay in the revalue release) because one of the parliamentary minsters
refused to cooperate in passing some laws, and he eventually resigned. Since
the laws had to be passed before the 30-day mark, they had to move the
elections to give more time to pass them.

Finally, there is an outstanding loan from the IMF (International
Monetary Fund) to Iraq that is due 4/1/10. The agreement associated with
that loan is that payments must begin 30 or 45 days (there seems to be
uncertainty which no. of days it is, 30 or 45 days) before it is due. Let's
say it is 30 days, which means that the loan payments must start by 3/1/10.
There is a consensus again that Iraq does not have the funds to re-pay this
and again the revalue release must happen for that revenue to be generated.
It is also part of the agreement that no extensions are allowed in this
loan.

So, if the elections get moved again (unlikely) then the IMF loan due
date should "force" the revalue release no later than 3/1/07 so the loan
could be paid, making the latest dates for revalue release to occur no later
than 2/7/10 to 3/1/10.

Note: The IMF required the Iraqi Dinar to be stable for one year before
allowing a currency value increase. The anniversary of the dinar's stability
for one year is 1/18/10 (Monday).

We have also deduced before that at least 2 months would be needed,
before the elections, for the ruling party to get the infrastructure built
up enough (that is, improved water and electricity) for that party to seem
to be a success in the Iraqi people's eyes, helping them to win the
election. The money to do that would come from the revalue release,
generating revenue. So, if the election dates don't move again, that 2-month
mark would have been 1/7/10. Thus, time is running out for them to achieve
that.