SFMEDIC CHAT

chat 12/12 0930 cst
--------------------------------------------------------------------------------
OK I NEVER SAID IT RV'D YESTERDAY. WHAT I SAID IS I GOT FORWARDED AN EMAIL OF A CONVERSATION BETWEEN MR I AND A WARKA INVESTOR. IT EXPLAINED WHAT WAS GOING ON WITH TH IQD.  THAT THE IQD HAS ALREADY BEEN REVALUED.  I DO NOT KNOW WHEN IT WAS DONE, ONLY THAT YESTERDAY I FOUND OUT THE HOLD UP WAS SYSTEM FAILURES.  MY FRIEND WHO JUST RETIRED FROM CITIBANK...FRIEND WHO IS THE CORP VP... GO TO THE WARKA OFFICE AT CITIBANKS CORP OFFICE IN NY, WHICH IS IN THE SAME BUILDING.  THEY TOLD HIM THAT THEY HAD SYSTEM ISSUES, BUT DID NOT GIVE UP ANY INFO ON THE IQD.  NOW IT IS OBVIOUS TO ANYONE WHO HAS FOLLOWED THE TBI/THOMSON RUETERS SAGA THAT THEY WERE REPORTED TO SUPPOSEDLY BE ONLINE RIGHT AFTER THE EID ENDED.  MY ? AND IT IS SIMPLE ANSWER. ARE THEY?  NO...SO IF THEY ARE NOT ONLINE AND INTERNATIONALLY TRADING FOREIGN CURRENCY, THEN SOMETHING MUST BE WRONG.  YES OR NO? YES...NOW THEY CANNOT GO INTERNATIONAL WITHOUT A TRADABLE CURRENCY EVEN IF IT WAS ONLY 1170.  THAT IS WHY THE CMS FOREX CONTRACT CANNOT BE ENFORCED.  IRAQI CAN TRADE, BUT THEY CAN'T USE THE IQD EVEN LOADED ON AN ATM CARD.  IT DOES NOT CONVERT NOR IS IT ACCEPTED FOR PAYMENT OF SERVICES ON FOREX. NOW IF A PERSON IS LOSING SITE OF THE PROGRESS HERE AND DOES NOT UNDERSTAND THE STEPS THAT ARE MANDATORY TO MEET THE REQUIREMENTS TO INTERNATIONALLY TRADE,THEN I DON'T KNOW WHAT I CAN DO TO PROVE TO YOU THIS IS AT THE VERY END IF NOT DONE ALREADY.  IN FACT, I WOULD NOT BE SURPRISED IF OTHER MECHANISMS HAVE NOT ALREADY BEEN NOTIFIED OF THE RV AND HAVE A RATE AND DATE.  REMEMBER WE ARE THE ONLY COUNTRY THAT HAS THEM ON AN OFAC (Office of Foreign Asset Control) LIST.  NOBODY ELSE HAS TO RECOGNIZE IT.  

ANY OTHER QUESTIONS?
UPTHERIVER: morning, I just got on but did I think it's great news that forex now shows the iqd as a "strong " buy

SFMEDIC: IT SHOWED IT AS A STRONG BUY FOR MONTHS

INDIANARICH : How are retailers paying for imported goods? I have not found anything....

SFMEDIC: SEVERAL COUNTRIES ACCEPT TH E IQD AS PAYMENT FOR GOODS, BUT THEY DO NOT OR CANNOT CASH THEM IN.  FRANCE TAKES ABOUT 25O BILLION IN USD/IQD A YEAR FROM IRAQ.

INDIANARICH: at the current rate we know or a pre-arranged number?

SFMEDIC: NO AT THE CURRENT RATE

LDBREWE: do you also think that part of the delay is the security in the country?

SFMEDIC: NO SECURITY IS NOT THE ISSUE

STLOU : if the US has them on the OFAC list..why would they be pushing them to RV now? It seems they would take them off for that to happen.

SFMEDIC: THE SECURITY WOULD BE A MUTE POINT IF THEY HAD AN RV.  THEY DO NOT NEED TO TAKE THEM OFF UNTIL THEY DO RV.

RENNOV81 : ofac?

SFMEDIC: OFFICE FOREIGN ASSET CONTROL

UPTHERIVER : so once again it's the US that is kinda the holdup?

SFMEDIC: NO, THE US IS NOT HOLDING ANYTHING UP AND NEVER HAVE.

dlittle6: on the auctions, when they are buying it back, who are they buying it from?? thanks

SFMEDIC: THEY BUY BACK FROM THOSE ENTITIES THAT HAVE PURCHASED IRAQS DEBTS FROM THE SALE OF TBILLS AND CB BILLS.  THINK ABOUT THIS WEEK AND ALL THAT HAPPENED THAT WAS PROBABLY SO OUT OF CONTEXT FOR IRAQ

OK – Now the List of Events

1) THE IMMINENT VETO OF THE ELECTION LAW THAT TOOK SEATS AWAY FROM THE SUNNIS AND WAS GUARANTEED A VETO BY HASHEMI, NEVER HAPPENED. WHY?
2) THEN THE NEXT SURPRISE, HASHEMI SIGNS OFF ON THE EL AND IT IS THEN POSTED IN THE GAZETTE AS OFFICIAL
3) THEN A POPULAR SUNNI VP IS FORCED OUT OF OFFICE
4) THE BOMBINGS
5) IRAQ DOES NOT DO WHAT IRAQ IS SO PREDICTABLE AT DOING THEY DO NOT HAVE A 72 MOURNING CALLED OR PASSED
6) THEY ANNOUNCE THAT THE OIL AUCTIONS ARE TAKING PLACE ON TIME AND WILL NOT BE CANCELED EVEN THOUGH THE BOMBINGS THAT COST 127 LIVES AND HUNDREDS MORE WOUNDED
7) THE LAST AUCTION OF THE WEEK IS OVER 200 MILLION FOR THE FIRST TIME ON A THURSDAY SINCE MAY 28 OF THIS YEAR
WE FIND OUT THAT SYSTEM ISSUES ARE CAUSING THE RV TO BE DELAYED
9) TWO THINGS PROVE PART OF THIS, ONE IS THAT NO TBI ONLINE THERE IS A RED FLAG
10) I HAVE IT CONFIRMED THAT THERE ARE SYSTEM FAILURE ISSUES THAT WARKA REPORTS
11) WE KNOW THAT OUR PRESIDENT HAS INTERVENED IN KURDISTAN ASKING PRESIDENT BARZANI NOT TO BUCK THE LAW
12) MALIKI HAS 1500 ARRESTED FOR CORRUPTION
13) LUKOIL THE LAST OF THE UNSC PERMANENT MEMBERS OF THE UNSC COUNTRIES GETS AN OIL CONTRACT
14) GAG ORDERS ARE GIVE TO THE US TREASURY EMPLOYEES THAT THEY ARE NOT TO DISCUSS THE IQD OUTSIDE OF THE US TREASURY
IN FACT MY FRIENDS SOURCE WAS MET ON FRIDAY MORNING AT HIS OFFICE IN THE TREASURY IN DC AND WAS PUT ON ADMINISTRATIVE LEAVE
15) WE KNOW THAT US FORCES HAVE BEEN CALLED FOR SPECIFIC DUTIES OF GUARDING BANKS AND OTHER FACILITIES INSIDE IRAQ
16) WE ALSO KNOW THAT MALIKI ON NOVEMBER 26TH OF THIS YEAR STATED THAT UNEMPLOYMENT WILL BE OVER BY EOY 2009.

JUST HOW IN THE HECK IS HE GOING TO ACHIEVE THAT?   SO THERE IS A LITTLE BIT OF THE PROGRESS FROM THIS WEEK.