BEN FULFORD - MAJOR HAPPY CHANGES POSSIBLY THIS WEEK/MONTH

January 5, 2010

Two blue moons in a row,one New Year’s Eve in the West and one on New Year’s day in the East.

On December 21st 2009, a group of shamans held a ceremony by a lake in the Philippines. Whatever the case, there was heavy rain and thick cloud cover as the group headed to the lake for a ceremony to mark a change in how Western civilization behaves. When we arrived at the lake suddenly an area of blue sky appeared immediately above us. All around there was still heavy cloud cover and rain. However, directly over our heads, in the middle of the circle of blue sky there was a new moon. Then on New Year’s Eve, the world experienced an unheralded but precious event, a blue moon on New Year’s eve in the West and a second blue moon on New Year’s Day in Asia. A blue moon means a second full moon in one month. A full moon on New Year’s Eve happens only once in every two decades or so. Two blue moons in a row at the turn of the decade and the year has probably not happened for centuries or longer. Thus, although I have been trained in science and skepticism, I believe we have had a very auspicious beginning to 2010, the Year of the Tiger.

Furthermore, multiple reliable sources both in Asia and the West are reporting major happy changes happening soon, possibly this week or this month. We are more hopeful than we have been in a long time but, we will believe it when we see it.

http://www.welcomethelight.com/2010/01/fulford-major-happy-changes-possibly-this-week/

DINAR DADDY'S TIDBIT: He is the son of a former Parliament Member in Canada. His dad was best friends with David Rockefeller's father. He is a self-purported child from an Illuminati Family. Do you think he may know something about the IQD RV? Hmmm... I've heard and read some of his stuff, and he has always been very negative about the U.S., and the world economic crisis. Why the change in attitude? Ya just never know...

UPCOMING CONFERENCES, EVENTS, & FINANCIAL MEETINGS FOR JAN. 2010 - From KelleyBlog

DINAR DADDY TIDBIT:
I grabbed this off of the link below. The kelley blog is a fantastic source for news articles that surround our investment. The credit is 100% her's for sure! Thank you Kelley for your efforts for all to read.
http://articlesofinterest-kelley.blogspot.com/2009/01/upcoming-conferences-events-and.html

REVALUATION SOONER THAN EXPECTED?

January 10th - 23rd Looks Interesting ~ Articles w/Links ...

Presidency of the Council of Representatives of the Council adjourns to Sunday January 10th

**Jan 12th - In The Absence of Approving the Budget, the Government Would Resort to Exchange Rate Mechanism in the Next Week

January 13th? GLOBAL FINANCIAL OVERHAUL WILL BE SEEN IN 2010

** What's up with January 15th ... 2010?

January 15th - Iraq is on Friday Next Partial Eclipse of the Sun

Zuhair Muhammad: House of Representatives Completed its Discussions on the General Budget (vote no later than Jan. 15th)

January 23rd - GCC Monetary Authority Will Officially Launch Their Monetary Union

Highlighted Articles of Interest ...

New Date scheduled for postponed UN High level Meeting ~ March

MARCH 16 -17 2010 - UNITED NATIONS "THE MONTERREY CONSENSUS AND DOHA DECLARATION"

(March 24 Launch) Asian Financial Safety Net Will Help Protect Korea, Neighbors

Older Articles From Nov. Dec. 2009 and Jan. 2010

Links to all of November 2009 Meetings and Events ...

LINKS TO DECEMBER 2009 MEETINGS AND EVENTS

Links ~ Past January 2010 Meetings etc ...

THE SO-CALLED "CENTRAL BANKS' CENTRAL BANK" HAS SUMMONED A NUMBER OF PRIVATE SECTOR BANK CHIEFS TO BASEL THIS WEEKEND

January 7 2010

The so-called “central banks’ central bank” has summoned a number of private sector bank chiefsto Basel this weekend

Bankers are back to the excessive risk taking that brought on the financial crisis. That, at least, is the fear of the Bank for International Settlements. The so-called “central banks’ central bank” has summoned a number of private sector bank chiefs to Basel this weekend to rap their knuckles about the return of “aggressive behaviour that prevailed during the pre-crisis period”. Given that the BIS was one of the few official organisations to warn of the credit crisis way back when, its latest admonition is worrying. Yet, at the same time, the BIS wants to have its cake and eat it.

Central banks want private bankers to take more risk. They want them to lend, even if credit demand is weak. More generally, they want to see funds flow out of cash and into the real economy. That, after all, is the point of near-zero interest rate policies and quantitative easing. The result has been a colossal and lucrative carry trade, with both welcome and unwanted consequences.

The supply of cheap funding has created useful demand for government bonds, just as fiscal deficits are rising. It has also helped banks rebuild their balance sheets. It may even have led to an incremental increase in the supply of credit. But being able to borrow at zero in the US and lend at, say, 9 per cent plus in Brazil has unleashed a possibly dangerous surge of hot money into emerging markets. Back home, it has also produced embarrassingly large profits at banks that weathered the crisis well, such as Goldman Sachs.

It is well-nigh impossible to separate desirable risk-taking from undesirable until either interest rates rise, or new bank regulations such as higher capital requirements are in place. In the meantime, the banks will make hay.


Top banks invited to Basel risk talks

January 6 2010 23:30

The Bank for International Settlements will gather top central bankers and financiers for a meeting in Basel this weekend amid rising concern about a resurgence of the “excessive risk-taking” that sparked the financial crisis.

In its invitation, the BIS cited concerns that “financial firms are returning to the aggressive behaviour that prevailed during the pre-crisis period”.

The BIS, known as the central banks’ bank, outlined in a restricted note to participants some specific proposals that it believes could create a healthier financial system. Those proposals including lowering return-on-equity targets for the banks as a way to discourage such risk taking

The meeting comes at a moment of intense uncertainty, with the global economy’s tentative recovery shadowed by “the overhang of private-sector debt and rapidly rising public debt”, and high unemployment.

“The concern here is that the prolonged assurance of very cheap and ample funding may encourage excessive risk-taking,” the BIS invitation note says.

“For example, low financing costs coupled with a steep yield curve may make participants vulnerable to future increases in policy rates – a situation reminiscent of the 1994 bond market turbulence which followed the Federal Reserve’s exit from a prolonged period of low policy rates.”

The note also expresses concern about deteriorating public finances and warned that doubt about fiscal prudence “could seriously disrupt bond markets if it triggered concerns about creditworthiness or inflation because of concerns with government incentives to inflate debt away.”

Among the charts included with the note is one indicating the cost of credit insurance against sovereign defaults.

In the past, the BIS has invited the top chiefs of private-sector banks to such gatherings in Basel on a yearly basis. But such meetings have been more frequent recently.

“These meetings are an attempt to bring a real world perspective to the deliberations of the wise men of the world,” one Federal Reserve official said. Central bankers “want to get a sense of what the markets are reacting to.”

related article~

BASEL, SWITZERLAND MEETING ON ECONOMY

MALIKI STILL INTERESTED IN SECOND TERM

Maliki still interested in second term in office – statement
January 8, 2010 - 03:37:47
BAGHDAD

/ Aswat al-Iraq: The office of Iraqi Prime Minister Nouri al-Maliki denied on Friday news reports that he would not seek a second term in office after the country’s upcoming parliamentary election.

“The Prime Minister did not talk to any media outlet about this issue,” al-Maliki’s office said in a release received by Aswat al-Iraq news agency.

It said that “such rumors attempt to affect the public for electoral purposes”.

MH (P)/AmR

Print version

MPs HOLDING UP BUDGET LAW TO EMBARASS MALIKI

Conscious / Adoption of the budget law of 2010, you will enter into the maze of deductions and the consensus? Analysis

Conscious / books, a political analyst, told the Iraqi news media
30/12/2009 12:58 pm

Will the Adoption of the Law of the Budget in the new maze of discussions and disputes in the parliament? Will some blocks will be held and Marqlatha and provision for their own benefit and discusses the Law of Adoption of the budget? Yes ..

First Reading of this law produced the discounts are not easy and obstacles inevitably a new stand in the path of the law is passed and it will enter into a heated debate between the political blocs that were found each and every one of them cause ALOTTI in order to prevent the wheel, which must acknowledge him to be the fact that the budget is the prime mover in all the activities of the State, as well as the adoption is one of the key factors, to take the political process and reach the right track towards building a healthy This Maojdnah present at the interview of Iraqi Prime Minister Nuri al-Maliki, who refused to link the adoption of the budget approval of the Electoral Code of Conduct is one of the claims asserted by political blocs before the adoption of the budget.

We do not want to move away in this topic to warn the Ministries of Finance and membranes of the Council of Representatives of the late approval of the general budget for 2010 and stressed the two ministries to expedite the passage of the budget because it would negatively affect projects in all ministries.

And explain to an official at the Ministry of Finance confirming that the ministry has suffered in the past two years the problem of delay in approving the budget, and that the budget in those years, recognizes in the third month and that the Ministry needs to have three months to distribute the powers of disbursement, which means to start paying the operational budget of the Ministry in the sixth month, and the supervisor to read what impacts on plans State which had taken two years for implementation, while the delay comes the adoption of the budget to undermine all that effort, planning and follow-up may well ask who is responsible for that?.

It is certainly the political blocs are trying to block the adoption of the budget and that an outright accusation that it was considering its own interests and does not care for the interests of the people, but they pay because embarrass the parliament in his last days because Aigr budget 'In that risks and fears of unreasonable That the political Aieiha with that title and participated in the process It bears the political responsibility of any constitutional, legal and moral to the people who put them in responsibility.

What is required of the main political blocs in parliament to facilitate the process of approving the budget and no complexity, and that Atjbr some provinces to re-allocations within the budget because of time constraints.

Says that all be present to Parliament in second reading of the Adoption of the budget law, and if there were objective and clear the proposals of non-target complex to serve the Iraqi people must Tnafsh sleek high lead to the adoption of the budget.

http://translate.google.com/translate?hl=ar&sl=ar&tl=en&u=http%3A%2F%2Fal-iraqnews.net%2Fnew%2Fsiaysiah%2F49229.html

FRANK POST - KTF Missions

Last night someone asked me in a post ……….can you share with us IYO when the next opportunity might come for the RI and I posted like this……….”all together now……….ALL TOGETHER NOW………..MONDAY.” That post told you two things where you think I told you one. The exchange rate mechanism is a function of cosmos. It is to organize ………..and to create a level playing field for everyone involved. Imagine yourself in line outside of a popular nightclub in New York. You are somewhere in the middle of the line and you know the cover charge so you possess that money in your pocket in order to enter when it’s your turn. Then all of a sudden someone at the back of the line goes all the way to the front but has MORE than the cover charge………….MORE than what you have in your pocket to enter. MORE ………..than what the others in line also possess to enter. Not cool. It could cause some problems………that’s what the bouncer is for and that’s what exchange rate mechanism is for concerning ME currency. If you go back to the early part of this week I told you that on Sunday the banks were shut down because they were being audited……….trying to get away with reporting false figures. Yesterday we showed you emails of our contacts not being able to open accounts from Sunday to Thursday. Wednesday did not count because it was a holiday. The excuse they gave us is because they claim their computers were down. Yep……….the exchange rate mechanism was at work along with the audit. We have been talking about a ME basket of currencies for awhile now. Then we noticed last week that a handful of ME currencies fluctuating on counters. Some felt that it was the buy and sell rate ……….and I disagreed. The exchange rate mechanism is a system that pulls the reigns on the horse. It controls the currency so that it does not jump around in value but anchors itself to a stable rate in accordance to the other currencies next to it. In this case……….a ME currency basket. We can talk about the GCC and apply it to this but that should come later. If the said countries are all in accordance and in agreement then the exchange rate mechanism would limit each country’s currency from having a fluttering effect to their rate. It’s not fair for one currency to go to the front of the line to get into the New York nightclub……….just because they decide that they want a currency rate higher than the country next to them. Not cool. So the article that we brought you earlier this week talked about this mechanism and this limit in fluctuation and expressed that it would be applied on the 12th. Now remember when I told you earlier this week that my team was looking for the announcement yesterday or today and I disagreed? I told them that I favored Monday or Tuesday because of this article. It clearly states that they were not going to work on the 2010 budget unless the exchange rate mechanism was applied. This is the part where I hear Homer Simpson say………..D’OH! Now here is another cool thing. According to that article it is implying that the IQD must have it’s stable rate established before the 12th. Then there would logically be a mechanism that would bring over that solid rate to be applied not only to the budget of 2010 but to any basket alliance that they are going to do with ME countries. I’m sorry……..I have to say it one more time…….D’OH! If we can get the countries to agree on this exchange rate mechanism then there would be stability and equality with all the said ME currencies that back in October were told by the UN that they had to adjust their undervalued/overvalued currencies to pay their dues. Hmmmm………interesting. But what is really interesting to me Family is that all of this IMO and based on my walls and Styrofoam boxes…………is Déjà vu. UN…derstand.

XXXXXXX CHAT 01/08/10 - 7:15PM EST

***** Chat 7:15 EST 1/8/10
--------------------------------------------------------------------------------

******: OK NOW AGAIN THERE IS NO RI (Reinstatement)
******: THEY CANNOT HAVE AN RI
******: SO PLEASE LET IT DIE
******: NOW ON THE EXCHANGE RATE MECHANISM
******: FIRST
******: THEY DON'T HAVE A TRADEABLE CURRENCY
******: SO THEY CAN'T IMPLEMENT IT YET
******: WELL IT CAN BE AT THE SAME TIME
******: NOW IT CAN GO TWO WAYS
******: UP OR DOWN
******: REVALUE OR DEVALUE
******: WELL THEY CAN'T GO DOWN
******: IT HAS TO BE USED TO COMPENSATE
******: SORRY PEOPLE CALLING
******: I JUST GOT INFORMED THAT CONTRACTORS IN IRAQ
******: ARE ALSO HEARING CHATTER ABOUT THIS WEEKEND
******: THAT FITS IN WITH SONNY'S INFO ABOUT THIS WEEKEND

ENOCH8 POST - One Dinar

That discussion (post from earlier today) goes well with the article posted by Catalyst and comments and support article Moto posted. There is additional discussion on this at the same location.... and some other links that tie into the article from 3 days ago.

http://translate.google.com/translate?hl=ar&langpair=ar|en&u=http://al-iraqnews.net/new/siaysiah/49229.html&rurl=translate.google.com&twu=1&client=tmp

Another article in that conversation shows some in Parliament are trying to delay the budget to the end of the 2nd month. IMHO Either way, nothing further needs to be done, but to set a fixed rate IE Revalue the Money.

XXXXXXX CHAT 01/08/10 - 1:14PM EST

NOW LET'S TALK DINAR. I WANT TO BRING A FEW THINGS UP.

OK NOW THE LAST 10 DAYS OR SO. I SPECULATED THAT THE US WAS NEGOTIATING WITH THE GOI ON THE SECURITY AND ECONOMIC FILES. AS WE KNOW NOW
THE U.S. IS NOW INVOLVED IN THE SECURITY FILES PROVIDING INTELLIGENCE AND TRAINING TO IRAQ, BUT NOT INVOLVED IN COMBAT OPERATIONS. THIS WAS POSTED IN THE FORUMS FROM AN ARTICLE IN THE GAZETTE TODAY.

NEXT IS THE ECONOMIC FILES. THE BUDGET AS YOU KNOW HAS BEEN PUT OF UNTIL THE END OF THE 2ND MONTH. IT IS MENTIONED THAT THE USA HAS SOMETHING TO DO WITH THIS HAPPENING. THAT THE MINISTRIES WILL HAVE I BELIEVE A SUBSTANTIAL INCREASE OF MONIES. NOW WE KNOW THAT THEY HAVE STATED THAT THEY WILL HAVE A CHANGE IN THE EXCHANGE RATE MECHANISM WITHIN THE WEEK.

I HAVE THIS CONFIRMED BY A FRIEND. NOT MY FRIEND SONNY OR ANYONE ANY OF YOU COULD POSSIBLY KNOW. IT IS SOMEONE WHO HAS THE SAME PAST AS MYSELF. HE WAS/IS A JEDI (lol). FOR YOU THAT DON'T KNOW WHAT THAT MEANS, IT IS THE TERM THE ARMY RECRUITERS USE FOR GREEN BERETS. I LAUGHED WHEN I HEARD THE RECRUITER TELL MY KID THAT THE OTHER DAY.

NOW I TALKED TO SONNY THIS MORNING AND HE WAS JUST PASSING ON WHAT HE WAS TOLD FROM HIS FRIEND AND HIS GROUP FROM DUBAI THAT THE RV IS DONE AND WILL COME OUT OVER THE WEEKEND. NOW WE HAVE ALL BEEN DOWN THIS ROAD MANY A TIMES. JUST HOPING THAT MONDAY HE DOESN'T HAVE TO BAN ANOTHER 175 MEMBERS FROM THE SITE AS HE DID LAST TIME. THEY WERE VICIOUS WHEN THE LAST ONE DIDN'T PAN OUT.

SO THAT IS WHERE WE STAND HOPEFULLY. OK ALL DONE.

TOP PRIORITY IS NOW SOUGHT TO REMOVE IRAQ FROM CHAPTER VII OF MONEY

January 8, 2010

Our top priority is now sought to remove Iraq from Chapter VII of money

The Iraqi government said it had not taken any decision to move the file shelling Israeli reactor, "July" nuclear reactor in 1981 in the Security Council to demand compensation due to physical damage caused to Iraq from behind the bombing, denying reports that Iraq begin to sue Israel for its bombing of the Osirak reactor.

The Minister of Science and Technology minister Raed Fahmi in a press statement, that "the government has not taken any decision on this matter, and is about to demand that Israel pay financial compensation by the bombing of the Osirak reactor but are those made by Congress and Iraqi political figures, but there was no discussion as yet between members of the Council of Ministers.

He added, "This decision to move the file in the corridors of the Security Council needs to study and thorough discussion, the fact that this case has different aspects and complex," as he put it.

He expressed his belief Fahmi, the importance of "mobilizing the Iraqi diplomatic efforts during the time the current output of the country towards the wrath of Chapter VII of the Charter of the United Nations and the termination of all obligations imposed on Iraq, as well as discuss how to push the international community to exert more efforts to help the country develop its economy and infrastructure reconstruction infrastructure and harness the capabilities and potential to achieve stability and prosperity "as he put it.

His comments were a number of MPs spoke of "the start of the Iraqi government to take serious steps to prosecute Israel, and be required to pay huge financial compensation for damages inflicted on Iraq over the bombing of Osirak nuclear."

MP Mohammad Al-Naji Mohammed Prime Minister Nuri al-Maliki face and approached the Ministry of Foreign Affairs of the United Nations and the Security Council to give effect to the issue of a claim, "Israel" to pay such compensation in accordance with the UN resolution No. 487 in 1981 for bombing the Iraqi nuclear reactor.

Naji said that the guidance of the Chief Minister was based on the book, published by the Secretariat of the Council of Ministers and the Foreign Ministry in November 25 last, which included approval for the State to activate the resolution which gave Iraq the right to claim compensation for damages suffered by the aggression of "Israeli" of bombed the Iraqi reactor in June 7, 1981 through the formation of a neutral committee shall assess the compensation due to Iraq.

Under Security Council resolution No. 487 issued in 1981 that it was Iraq's right to obtain compensation for the attack, "Israeli" on the Osirak nuclear power, and the Security Council strongly deplores the military raid "Israeli", and demands that "Israel" to refrain in future from actions This type or the threat.

Also emphasizes the sixth paragraph of the resolution of Iraq's right to receive appropriate compensation for the devastation that was the victim and admitted that "Israel", responsibility for and requests the Secretary General of the United Nations Security Council regularly informed the conduct of the implementation of this resolution.

Referred to a number of Iraqi parliamentarians have raised the former nuclear reactor file, approached and demanded the Iraqi Foreign Ministry to discuss the possibility activate the international resolution to compensate the loss of Iraq by the bombing of reactant, which lies west of the city center about 17 km.

http://translate.googleusercontent.com/translate_c?hl=en&sl=ar&u=http://www.uragency.net/index.php%3Faa%3Dnews%26id22%3D3901&prev=/search%3Fq%3Dnahrain%26hl%3Den%26client%3Dfirefox-a%26channel%3Ds%26rls%3Dorg.mozilla:en-US:official%26hs%3D6EN%26sa%3DG&rurl=translate.google.com&usg=ALkJrhhxQardGPYTWGyLEwphx3KINEX0hw

ENOCH8 POST - Rule 62

Given the recent articles the last 3 or 4 days..... concerning Estimated Rate Mechanisms..... Election Laws...... Budget Laws..... and the dates of Jan.12th, Jan. 31st and Feb. 6....... Consider the following......

[11:41] Enoch8: Cat has been posting some great articles the last few days

[11:42] Enoch8: This one falls right in my thinking on the ERM articles...... http://en.aswataliraq.info/?p=124897

[11:43] Enoch8: It looks like the one calling for the 12th is a Juxta Position from the Attorney of GOI

[11:43] Enoch8: That article supports that as being the case

[11:44] Enoch8: Election Laws seem to go into effect to provide a code of conduct....

[11:45] Enoch8: that prohibit the manipulation of the ERM and the money and budget from political positioning and party advantage ...

[11:45] Enoch8: one party over another.

[11:45] Enoch8: That is a good thing for us..... IMO

[11:48] Enoch8: I think maybe the reason for the mention yesterday of the 31st has more to do with deadlines for investment projects and budget items to be in place before that can be done

[11:50] Enoch8: Has anyone found an article that speaks about Feb 6th?

[11:50] Enoch8: If so I would live to read that.

[11:51] Enoch8: To see how that applies..... my take right now is that date could be an effective enactment date of perhaps the budget?

[11:52] Enoch8: Or.... it could also comply with a rule of 30 days prior to election on March 7th.... prohibiting funds for campaigns..
..
[11:52] Enoch8: similar to our own Campaign finance laws..... in the US..... by Senator John McCain.

[11:53] Enoch8: Question...... what was MaCCain doing in Iraq this week?

[11:53] Enoch8: Copy and pass that around..... if you want.

[12:01] Zazu: I read somewhere that McCain is over there to make sure GWB gets credit for the RV. Not sure how much credit that holds though.

[12:02] Enoch8: My thoughts exactly. He is the campaign finance guru of the US

[12:06] Enoch8: http://translate.google.com/translate?hl=ar&langpair=ar|en&u=http://al-iraqnews.net/new/siaysiah/49229.html&rurl=translate.google.com&twu=1&client=tmp

[12:06] Enoch8: The above is my personal evaluation of what the above article means.

ENTRY OF MODIFICATIONS TO THE BUDGET BY THE FINANCE COMMITTEE

Samurai confirms the entry of modifications to the budget by the Finance Committee

08 January, 2010 08:26:00

Speaker of Parliament, Iyad Samarrai, the entry of modifications to the budget by the Finance Committee, in addition to the administrative allocation of quotas in order for members to do their jobs.

alfayhaatvnews

PHOENIX CHAT - One Dinar

08:45] Phoenix3333: Heads up!~
[08:45] Phoenix3333: Modifications to the budget by the Finance Committee
[08:45] Phoenix3333: http://articlesofinterest-kelley.blogspot.com/2010/01/entry-of-modifications-to-budget-by.html
[08:46] Phoenix3333: This may be the rate change
[08:46] rebel: great
[08:46] K8GJGB: sure hope so
[08:46] K8GJGB: how will we know
[08:48] rebel: PUT IT ON US PHX
[08:49] Phoenix3333: we will know when we know
[08:49] Phoenix3333: all I know is this is what were were expecting
[08:50] Phoenix3333: that if the budget was not passed they would make needed "changes"
[08:51] K8GJGB: SHOW US THE MONEY NOW "RFN"
[08:52] Phoenix3333: ok....bbl
[08:52] Phoenix3333: everyone be well
[08:52] rebel: thanks
[08:52] Obsession: Thanks
[08:52] Phoenix3333: must get some things done.
[08:52] Phoenix3333: Be sure and pass that great news along with the link
[08:52] Supernatural1: Thanks PHX
[08:53] rebel: yes sir
[08:53] Phoenix3333: Modifications to the budget by the Finance Committee
[08:53] Phoenix3333: http://articlesofinterest-kelley.blogspot.com/2010/01/entry-of-modifications-to-budget-by.html
[08:53] Phoenix3333: later..........................

XXXXXXX CHAT 01/08/10 - 7:30AM

****** says to (07:31:17): OK IS ANYONE READING THE POSTS
****** says to (07:31:33): CAN ANYONE TELL ME WHAT HAPPENED TODAY THAT SAYS RV
****** says to (07:32:07): HELLO
****** says to (07:32:17): CAN YOU TELL ME WHAT HAPPENED TODAY? WHAT WAS ANNOUNCED TODAY?
****** says to (07:33:22): NO BUDGET UNTIL END OF 2ND MONTH
****** says to (07:33:37): BECAUSE OF INCREASES BY THE USA
****** says to (07:33:48): INCREASES BY THE USA
****** says to (07:34:02): SO WE (U.S.A.) DID GET THE ECONOMIC FILE
****** says to (07:34:22): WHAT DID THEY SAY WOULD HAPPEN IF NO BUDGET BY THE 12TH?
calldinar says to (07:34:42): RV
mb3 says to (07:34:52): exchange rate mechanism
****** says to (07:34:58): YES
****** says to (07:36:01): http://www.dinarspeculator.com/showthread.php?t=5863
HopeIsMe says to (07:36:57): DIfferent ministries asked for increases as well. Lets you know they're expecting a huge to their monetary situation.
HopeIsMe says to (07:37:16): increase, I mean. I'm still asleep. Sorry.
Nanamitch says to (07:37:50): This is great news!
emtsue says to (07:38:16): hey get this: I'm sitting here watching Elvis Presley in Harem Scarem talking about dinars and oil contracts! could this be a sign from above?!
****** says to (07:38:18): ALSO ALL THE REGIONS WANT A 20% INCREASE
****** says to (07:38:46): ELVIS ISN'T DEAD HE IS IN WITNESS PROTECTION
****** says to (07:38:49): LOL
****** says to (07:43:50): http://www.dinarspeculator.com/showt...0375#post20375
****** says to (07:44:17): BECAUSE YOU WEREN'T PAYING ATTENTION THE LAST WEEK
****** says to (07:44:22): OTHERWISE YOU WOULD KNOW
****** says to (07:45:12): WHAT WAS THE U.S. AND IRAQ NEGOTIATING FOR A WEEK
****** says to (07:45:25): WHAT DID THE GOI ASK THE US TO TAKE OVER
Nanamitch says to (07:45:39): The economic files
calldinar says to (07:45:42): Security Files
blessed says to (07:45:48): security file
****** says to (07:45:50): YES SECURITY FILES
****** says to (07:46:00): AND WE SAID WHAT
****** says to (07:46:03): YES NANA
****** says to (07:46:23): THAT IS WHY WE HAVE THEM AND SO MUCH POWER
****** says to (07:46:35): AND YES WITH NO BUDGET
****** says to (07:46:38): AND NO MONEY
****** says to (07:46:48): THE ONLY THING THEY CAN RESORT TO
Nanamitch says to (07:46:53): They basically handed it to us because they cant get anything done
****** says to (07:47:13): IS PUT AN EXCHANGE RATE MECHANISM IN PLACE
****** says to (07:47:29): TO COUNTER THE LACK OF NO BUDGETED FUNDS
****** says to (07:47:34): SO YOU MAKE YOUR OWN
****** says to (07:47:46): BY INCREASING THE VALUE OF WHAT YOU HAVE AVAILABLE
****** says to (07:48:09): ALL OF A SUDDEN 5 BILLION IQD
keep it real says to (07:48:12): rate mechanism = RV
****** says to (07:48:17): IS NOT WORTH 5 MILLION USD
****** says to (07:48:27): IT IS NOW WORTH 5 PLUS BILLION USD
keep it real says to (07:48:58): sorry MED, cant count that high
****** says to (07:49:18): NONE OF US WILL HAVE TO
****** says to (07:49:30): EXCEPT A FEW ON MY PRIVATE SITE
sandiego says to (07:49:41): in essense does owning the economic files mean the US, and not Shabs, has control of the trigger?
****** says to (07:49:58): NO SHABS CONTROLS IT
****** says to (07:50:10): BUT THE POLICY IS TO CHANGE
****** says to (07:50:22): I EXPLAINED IT ALL YESTERDAY
****** says to (07:50:25): IN CHAT
****** says to (07:50:57): WELL GOING TO TAKE A NAP FOR A BIT
****** says to (07:50:59): LATER

PM MALIKI DENIES REPORTS THAT HE IS NOT RUNNING FOR PM

In the name of God the Merciful

The Republic of Iraq




Prime Minister

Information Office of the Prime Minister
Statement

Friday 8 /1/2010 8 / 1 / 2010

Denied

Renew the office of Prime Minister Nuri Kamal al-Maliki denied what appeared in some media and reported by politicians from time to time, that its sovereignty will not be nominated for the post of prime minister after the next parliamentary elections.

We stress that the Prime Minister did not speak to any media, whether foreign or domestic, and the promotion of such rumors flagrant interference in the framework of the attempts by some, with great regret, to confuse public opinion and electoral goals.

http://translate.google.com/translate?hl=en&sl=ar&tl=en&u=http://www.pmo.iq/index/03-1132.htm&rurl=translate.google.com

IRAQ TO CHANGE BANKING LAWS

BAGHDAD / Aswat al-Iraq: Specialists in the economic and special banking work in Iraq said on Thursday that the special banking system needs to reconsider its laws to suit the current reconstruction stage in the country.

This came during a ceremony held by the Gulf Commercial Bank on Thursday (Jan. 7) on its 10th anniversary, during which it honored a number of media institutions for their roles in spreading the economic culture in the society, including Aswat al-Iraq news agency, al-Sabah newspaper and al-Hurra satellite channel.

“The Iraqi banking sector has achieved a quality leap regarding the number of banks and their branches which reach 640 or their capitals which reach 1.200 trillion Iraqi dinars,” Chairman of the Gulf Commercial Bank, Abu Taleb al-Hashemi, told Aswat al-Iraq news agency.

However, the banker continued, despite these developments the banking sector’s contribution in the national output does not exceed 7%.

“The banking system in Iraq needs a comprehensive restructuring and a development of its legislations to encourage banks to take part in the developmental work, mainly in the establishment of the small and medium enterprises.

He called on the Central Bank of Iraq to set up two economic institutions; the first one to guarantee deposits and the second to guarantee the loans which will enable the national banks to expand their activities.

“There are some laws need to be studied because they are very important in the baking dealings, mainly fostering the Iraqi judiciary concerned with the economic affairs,” he explained.

“Iraq does not has laws on the electronic commerce (E-commerce) which is very important for boosting the economy and its development,” he concluded.

Economist, Ghazi al-Kenani, said “the coming stage is a competition stage between Iraqi and foreign banks,” pointing out that the later expressed readiness to enter the Iraqi market and invest in it, the matter which force the Iraqi banks to develop themselves to prove their ability to work and compete.

“Special banks need some change in their law to foster the roles in the Iraqi economy,” head of the economic department in al-Sabah newspaper, Yasser al-Mutwali, said.

“This will depend on the fiscal policy the Central Bank of Iraq will adopt,” he told Aswat al-Iraq news agency.

He voiced hope that the fiscal and monetary policies of the CBI would support and strengthen the special banks’ roles to live up to the international levels.

UN OPERATIONAL RATES OF EXCHANGE (January Post Date / Effective Date)

http://www.un.org/Depts/treasury/


2010 Operational Rates of Exchange Last updated 06 Jan 2010 for the effective date of 08 January 2010 and thereafter until further notice.

Please note that Democratic People's Republic of Korea (North Korea) redenominated its currency 100:1.
After the redenomination, the currency, KPW, depreciated significantly and the new U.N. Operational Rates of Exchange is 99.8 per USD effective 08 Jan 2010.

Please note that the next scheduled update is 13 Jan. 2010, if there is any applicable change for mid-month revision (effective date: 15 Jan 10).

The time table for the scheduled updates for 2010 will be posted shortly.

STARDOGGER CHAT - Dinar Vets

[*stardogger] I have been doign alot of reading and research on the Exchange Rate Mechanisim
[*stardogger] i think this most recent news is very promising
[*stardogger] if you all understand what Exchange Rate mechanism is
[*stardogger] listen
[*stardogger] I want you to all listen
[*stardogger] if you all go back to the EU
[*stardogger] before the euro
[*stardogger] same thing happened
[*stardogger] the ERM as it is called
[*stardogger] was put in place to stabalize all the currencies in the member countries
[*stardogger] why would Iraq need to have such a "mechanisim" in place
[*stardogger] think
[*stardogger] the Gulf countries all would have to be aligned in sync and not be allowed to fluctuiate if Iraq RV's
[*stardogger] read this:
[*stardogger] Exahange rate mechanism consist of several member currencies, which are fixed against each other. Although minor variations may exist between them in accordance with European Currency Unit (ECU) rate.
[*stardogger] all countries will need to be fixed against each other
[*stardogger] as NOT TO vary
[*stardogger] think if iraq RV's it would have all the surrounding countries in place go crazy
[*stardogger] unless they had this "mechanisim" in place
[*stardogger] it is very important and if you read between the linkes the CBI stated that the not passing the budjet was to allow the government to obtain the "ERM"
[*stardogger] they need to have the ERM in place to have a budjet
[*stardogger] the deffinition of ERM is that there are "member countries" that participate as Mechanisim to disallow wide fluxuation of currency values
[*stardogger] this would only be needed if Iraq RV
[*stardogger] if Iraq was not going to RV
[*stardogger] then the ERM would not be necessary
[*stardogger] read the first line here:
[*stardogger] Exahange rate mechanism consist of several member currencies, which are fixed against each other. Although minor variations may exist between them in accordance with European Currency Unit (ECU) rate.
[*stardogger] this is very important
[*stardogger] The CBI says the ERM will be in place on the 12th of Ja
[*stardogger] Tuesday
[*stardogger] so if the ERM is in place on the 12th by deffinition the ERM would mean that the IQD would have to be set to have such "mechanisim" to be in place. Do you understand?
[*stardogger] it is an agreement where all member countries agree NOT to spike its currencies by a fluxuation greater than 2.25 percent in either direction
[*stardogger] this creates stability so the RV can happen
[*stardogger] without this "mechanisim" in place it would be crazy
[*stardogger] dont have a rv date, but it wou ld be stupid for iraq to set an erm rate of what it is now. Think about it why would they even need the mechanisim in place if nothing is changing? Make sense?
[*stardogger] this erm is big, it is the birth of this alignment of currencies
[*stardogger] the next phase will be the gcc
[*stardogger] currency
[*stardogger] it is all happening just like the euro people
[*stardogger] the only thing is one country has its currency so far out of whack that it really can't be done until that is fixed
[*stardogger] its all economics
[*stardogger] not even oil
[*stardogger] if you all study the euro and how that all happened it really helps you understand this all
[*stardogger] it wont be soon aurdemus
[*stardogger] it will be a way off
[*stardogger] but first the region will have to have the mechanism in place
[*stardogger] read thsi paste:
[*stardogger] The Exchange Rate Mechanism, shortly refer to as ERM, is a method or technique based on the philosopy of fixed currency exchange rate margin. This system was instituted in 1979 for the purpose of ascertaining the exchange rates within European monetary system of European Union(EU). All the exchange rates were based on the ECU (European Currency Unit), before the euro was introduced in the market. The main objective of exchange rate mechanism is to devise a single currency mechanism.
[*stardogger] the most important point is the last: teh main objective of the exchange rate mechanism is to devise a single currency
[jtl] is Iraq def going to be part ogf gcc though?
[*stardogger] read the last words
[*stardogger] YES
[*stardogger] by deffinition
[*stardogger] READ.[*stardogger] Exahange rate mechanism consist of several member currencies, which are fixed against each other.
[*stardogger] member countries
[*stardogger] read this very carefully
[*stardogger] you can't have an erm by your self
[*stardogger] this action or mechanism is a collection of the member countries
[*stardogger] gulf corrperation council
[*stardogger] if iraq rv'd its currency and then did not have this in place kuwait wou ld be at like 9 bucks
[*stardogger] it would be crazy
[*stardogger] they need to have this mechanisim in place to stabalize the region for the rv
[*stardogger] in the cbi statement they said..
[*stardogger] 5/1/2010 5/1/2010 6:50pm 6:50 pm The Attorney-Sabah al-Saadi on the mass of virtue that not approving the budget means to give the opportunity for the Government to find the exchange rate mechanism, especially in the twelfth of this month for the maintenance of ministries and government institutions.
[*stardogger] read: "give the government opportunity to find the exchange rate"
12:44 AM [*stardogger] issues have been resolved with neighorboring countries
12:44 AM [*stardogger] this deal is changing
12:44 AM [*stardogger] the ERM is big
12:44 AM [*stardogger] what do I think the value
12:44 AM [*stardogger] first its way off value now
12:44 AM [*stardogger] its in the gutter
12:45 AM [*stardogger] so if they are doing the ERM it would be stupid to keep it at the same, becuase you would not even need the ERM if no change was being made
12:45 AM [*stardogger] Chapter 7
12:45 AM [*stardogger] was wondering when that would come into question
12:46 AM [*stardogger] I think the conditions have been back doored and that the chap 7 has been kept at bay as protection mechanism for iraq
12:46 AM [*stardogger] to be relsased at right timing
12:46 AM [*stardogger] you dont hear Kuwat any more cry ing about the 24 billion have you ?
12:47 AM [*stardogger] or missing bodies, persons, artifacts? dispute on borders
12:47 AM [*stardogger] thats so last year
12:47 AM [Frosty] So you are saying its basically an insurance plan (chapter 7)
12:47 AM [*stardogger] its I think been in therory done
12:47 AM [*stardogger] Yes frost
12:47 AM [*stardogger] I do
12:47 AM [kspoolman] *stardogger - thanks for the research. Much more logical and reasonable explaination than anything I've seen from all the bloated Infogurus
12:47 AM [*stardogger] I personally think the chap 7 is like a protection for iraq
12:47 AM [*stardogger] iraq dont need to be released it would have not benifit only detrimate if it was released early
12:47 AM [dinarded] *stardogger That's why they call BK "protection"
12:48 AM [*stardogger] yes yes
12:48 AM [*stardogger] so forge the chap 7 here
12:48 AM [*stardogger] lets focus on RV
12:48 AM [*stardogger] the revalue will only take place when the Mechanisim has been in place with all the member countries
12:48 AM [*stardogger] and where such mechanisim would satisify the IMF
12:48 AM [*stardogger] so that it would not create havoc
12:49 AM [*stardogger] you guys have to understand this is about OIL
12:49 AM [*stardogger] also
12:49 AM [*stardogger] you dont want to wake up and have gas 12 bucks a gallon because Iraq RV'd
12:49 AM [chris0985] So does that mean 12th is the day to RV?
12:49 AM [*stardogger] chris0985 dont have me stick my neck out on that one
12:49 AM [*stardogger] chris0985 dont have me stick my neck out on that one
12:50 AM [*stardogger] I will just say watch the ERM
12:50 AM [*stardogger] watch what is happening
12:50 AM [*stardogger] if Iraq CBI's change the exchange rate for the ERM
12:50 AM [*stardogger] its gonna be IMO to come up to par with the neighboring countries
12:50 AM [*stardogger] there needs to be a balance
12:51 AM [*stardogger] tonyg read the post
12:51 AM [*stardogger] I have no idea
12:51 AM [*stardogger] on rate
12:51 AM [*stardogger] anyone that throws rates out is just funny
12:51 AM [*stardogger] we all dont have a clue
12:51 AM [*stardogger] If you ask me
12:51 AM [*stardogger] I think it will start out low
12:52 AM [*stardogger] only bechase the CBI will want to suck back in all the dinar
12:52 AM [*stardogger] back to the cbi
12:52 AM [*stardogger] then have it drop and change to get more
12:52 AM [*stardogger] CBI wants its dinar back before it goes to 3 bucks IMO
12:53 AM [*stardogger] I think it will be above a buck
12:53 AM [*stardogger] only becuase the CBI wants to kill the romance it has with the dollar
12:53 AM [*stardogger] if it is below a buck then the romance with the dollar is still there,
12:53 AM [*stardogger] but I have no idea
12:53 AM [*stardogger] just like the rest of you guessing on that
12:54 AM [*stardogger] Scooter39 that depends
12:54 AM [*stardogger] IF the ERM rate has been set before then
12:54 AM [*stardogger] rt59 I just know one thing this has all been done before
12:54 AM [*stardogger] nothing new
12:55 AM [*stardogger] if you look at history this all becomes a bit clear
12:55 AM [*stardogger] done
12:55 AM [*stardogger] ok guys I want you all to understand what we are facing here
12:55 AM [*stardogger] in the next week
12:56 AM [*stardogger] IF and a big IF the cbi changes its rate for the ERM
12:56 AM [*stardogger] then it is a no brainer
This room is now moderated. All messages submitted will be directed to room moderators for consideration before being made public.
12:56 AM [*stardogger] I will release modeeration in a min
12:57 AM [*stardogger] I just wanted to say that all of you that bring good things to this board
12:57 AM [*stardogger] are wonderful
12:57 AM [*stardogger] we are all stressed out becuase we all need this to RV
12:57 AM [*stardogger] I am no diff
12:57 AM [*stardogger] just that we are close
12:57 AM [*stardogger] the news of the ERM announcement is big, and that means that things are moving in the right direct
12:58 AM [*stardogger] so lets all keep a watchful eye on this over the next few days.
12:58 AM [danimal] where would we all look?
12:58 AM [*stardogger] an please no bashing, rude remarks, lets all be nice here
12:58 AM [*stardogger] watch the news i will keep it posted here.
This room is no longer being moderated.
12:58 AM [*stardogger] thank you all

ASTRO GUY CHAT - 1/8/09

I heard that Mr M has given the RV files to Mr Shabibbi (Governor of the Central Bank of Iraq - CBI). I wanna share my thoughts on this. There are 3 reasons i think this would be the case. I strongly feel the third reason is what i believe is happening. Now the three reasons:

1. Politicians don't want any blame on them during an election time that they are mis-using rv for political gains. So M gave the RV files to S for further processing.

2. They don't wanna do it now due to election code of conduct law coming into force very soon (on 12 jan may be).. so he will leave the buck to S until a new govt is elected.

3. I have never seen a PM or a President announce an RV before in many countries. it is always the Central or Reserve bank which is independent and autonomous, and that which control the money supply for a country announces such. When we were told about the intel that M is gonna announce. I told couple of my friends this and said that he will never do it, but he will give the green signal and it will be the CBI chair Shabibi who will announce it. I said this in Sept or so. That is the case. The decision as to when one can release is of the head of state and politicians but, actual release is by the CBI President. I strongly believe that he has given his blessings to announce the RV at the next available opportune time, which in my thinking is Monday 11, Jan 2010. That's all folks.

QUESTION: Astro do you think M held it and used it for political reasons and now is done with it??
ANSWER: M held for the timing in my opinion. This is the timing right before election is about to kick off.

QUESTION: What about Plausible deniability... If it works we told him to do it, and if it fails we had no idea what he was doing?
ANSWER: It is so possible. But Maliki is not an angel, and he is after all a politician and fits in the realm of many such.
RESPONSE: But he may not run, but his party is, and the last thing he needs is more egg on his face.

COMMENT: I think the incoming government is going to hang all iraq trouble , ie security, power trouble , price controls on Maliki.
ASTRO RESPONSE: Yes they are..so it is better M doesn't re-run. But, if he chooses to run, in my opinion, the US will find another amicable leader as PM, and make him vice president, or of that sort. This is just an opinion.
COMMENT: Shabibbi is western educated and done work with imf world bank and UN. I think he is best suited to handle this.
ASTRO RESONSE: Yes, also he is the rightful authority to announce such things. A PM can announce some new development programs etc., not the value of a currency. It is the final responsibility of CBI. The signature of CBI
governor has to bear it for it to be valid. Even if M wants to announce it, it is a mere post man work to do so. It is basically the job of Shabibbi. I have seen many RVs in India and other democratic countries. It is the Central Reserve Bank Governor who announces such. It is possible he is scared to handle it. But, if we take the recent 10 country rv, how many presidents and PMs announce them? None.

QUESTION: Astro will it be a big deal, or will it just show up?
ANSWER: It will be a simple press release. Maybe some symbolic one under the new flag and some theme at the back ground with many press persons.

QUESTION: Astro Guy is there still a chance for tonight?
ANSWER: I still don't think they will do it on a Friday. All Iraqi banks who must first see the benefit, must be open and as well the international banks in most western countries need to be open. This is possible on Monday. Even if Shabibbi opens the CBI on Friday just to announce, can he make all other banks open as well? Heck no.
****** says to (01:51:11):
COMMENT: Remember that Shabs is all about the Debt Sustainability Model.
ASTRO GUY RESPONSE: Very good point. The recent audit on CBI probably revealed something surprising that S can handle it better now.

QUESTION: Wouldn't the RV have to be higher because the lack of dfi funds, and the lack of subsidies and such to make up for the things that are not yet in the approved budget?
ANSWER: Ok, the problem with a very high RV is inflation, and the acute effects of it. Remember for most in here even a rate of .80 is a thousand % increase. Can you imagine the effect on the economy if you woke? Up tomorrow and every 1 dollar bill in your wallet now was worth a 1000 dollars?
RESPONSE TO ANSWER: But an RV of 1.50 will create a ton of speculation and the currency will be all over the place.

9:46 PM [Astro Guy] the friday is holiday for them alright. but this time it is the US who is so much involved right from when the new currency is set etc..the past rvs are not this big one

THE REST OF THE "UNKNOWN" CHAT...
****** says to (01:54:12):
eitgher. mere 4 % or so can happen anyday. but this is life alterting and all iraqi banks need to be open on this so that people gets the benefit rigfht away..
****** says to (01:54:34):
9:46 PM [Mailman's neighbor] Lan, I would not look a gift horse in the mouth, I am just thinking about the speculation and the GCC when they enter it, wont the value again increase and this could lead to even more speculation?
****** says to (01:54:57):
9:47 PM [lanachy] no because you are mixing two priciples supply side econ and pegs i believe that it will have a crawling peg to a basket of currencies
9:47 PM [lanachy] i we should of had this talkl before i started drinking
****** says to (01:55:25):
9:47 PM [seasefire] so td you think 1.50 is too low?
9:47 PM [tdurden] Yes I do. I think they need at least 2.50
9:48 PM [tdurden] and we forget about iraqi pride in the equation
****** says to (01:55:57):
9:48 PM [tdurden] number crunching will never account for that
9:48 PM [tdurden] and we wont really be able to understand there inflation numbers for a year or two
****** says to (01:56:19):
9:49 PM [lanachy] i believe its going to come out about on par with the euro as the eu is there biggest tradeing partner and they need to achive Purchasing power
****** says to (01:56:48):
parity
9:49 PM [Foxyrodeo] i think it makes sense for them to do it on their weekend so they have time to update their systems and the stores to make changes to prices
****** says to (01:57:13):
9:49 PM [tdurden] I think the systems are updated already foxy
9:49 PM [tdurden] thats why the ISX has been BS all week
9:49 PM [Mailman's neighbor] They hate Kuwait, I would think they would want to be somewhat close.
****** says to (01:57:36):
9:49 PM [tdurden] yes mailmans neighbor
9:50 PM [Mailman's neighbor] Lan, What about all of those workers that are Iraq going to KUwait to work and all of the business leaving Iraq to go to Kuwait to make more money?
****** says to (01:57:53):

9:51 PM [lanachy] kuwait is basicly a welfare state, i believe they need parity with the eu for supplies they need brought in to rebuild iraq
****** says to (01:58:42):
9:52 PM [Mailman's neighbor] Lan, How much Kuwait dinar does Iraq hold?
9:52 PM [lanachy] who knows?, it cant be a hugh amount or they would just repay kuwait with it
9:53 PM [lanachy] astro what is you rate guess?
****** says to (01:59:00):
9:54 PM [DinarKing] there was something I didn't understand LAN.. how can Kuwait's currency be at 3.48 ans Saudi Arabia at .27
****** says to (01:59:19):
9:54 PM [tdurden] cause Saudi Arabia keeps it that way and no one will tell them differently
9:54 PM [lanachy] because saudi has a hard peg to us dollar to help keep there currency value low
9:55 PM [tdurden] they also have .25 cent gas
****** says to (01:59:41):
9:55 PM [lanachy] kuwait has a peg to a basket the rate was much lower when pegged to the dollar
9:55 PM [kingwm] i don't understand what is the benefit of keeping the value of your currency low
9:55 PM [lanachy] trade
****** says to (02:00:02):
9:55 PM [Astro Guy] lan i thought of 1.47 as feasible one. unless US steps in and say in some writing to IMF that they will support the rise to 3 high with their reservers byu withholding the US based several trillions of liquid IQD cash indefinetely or atleast next 20 some years.
****** says to (02:00:23):
9:56 PM [lanachy] were right in the same mind set astro
9:56 PM [butterfly] wouldnt we, meaning US, want it higher since we hold so much? and since we are pretty much the IMF?
****** says to (02:00:40):
9:57 PM [lanachy] no because if iraq falls on its ass the imf is left holding the bag
9:59 PM [Astro Guy] we donno what S found out from the recent audit of cbi and its asset
****** says to (02:01:08):
if anything surprising was found that may make some difference on the already decided rate.. but noit too much... because ..
9:59 PM [blackhoeman] i would think they would
****** says to (02:01:52):
come out moderately grow private sector and bump value up as exports and agriculture as well as other goods for export rose and oil out put increased JMO.
****** says to (02:02:11):
9:59 PM [lanachy] im with you blackhoeman
10:00 PM [Astro Guy] i strongly beleive that the rates are factored into the new laws and budgets that are coming out in the coming weeks.
****** says to (02:02:44):
9:59 PM [Mailman's neighbor] How come us to Iraq is 1132 and Iraq to US is 1170?
10:00 PM [lanachy] buy sell and midmarket price mm neighbor
****** says to (02:03:17):
10:03 PM [Astro Guy] Say the election code of conduct law coming out on 12 jan has a limit of spending as some 100,000 iqd. it is currently
****** says to (02:04:04):
10:04 PM [Astro Guy] take for example the oil contracts..
10:05 PM [Astro Guy] never went the way the bid majors wanted it..they did what was sensible to them..just 1.40 to 2.00 per barrel and no share in oil reserves as such..
****** says to (02:04:20):
10:06 PM [Astro Guy] if they can disaapoint up these oil ambtions they can do anything..oil contreact are much huge to loose than currency rv..
****** says to (02:05:37):
10:07 PM [JARV] Thursday, January 07, 2010 08:59 GMT Iraq Ministry of Oil Spokesman Assem Jihad said that the Cabinet ratified all the oil
****** says to (02:05:59):
contracts with the International companies after these companies approved the amendments Iraq government suggested.
****** says to (02:06:18):
Jihad said that the date of signing the contracts will be fixed soon. The companies approved the amendments which
****** says to (02:06:36):
are legal and do not interfere with the core of the contracts as these amendments provide an additional legal cover for the companies and the government, Oil Ministry Spokesman uttered.
****** says to (02:06:54):
JARV link - http://www.alsumaria.tv/en/Economics-Ne ... racts.html
****** says to (02:07:12):
10:08 PM [JARV] Print Send to a friend Comment this article Economics Mosul economists call to activate investment projects Thursday,
****** says to (02:07:33):
January 07, 2010 09:10 GMT Economists in Al Mosul Province claimed to activate investment projects in the region in order to revive the economic and service sectors in the Province.
****** says to (02:07:59):
To that, economists called the government to work on establishing coherent measures in order to control importing goods from other countries.
****** says to (02:08:25):
Jarv Link - http://www.alsumaria.tv/en/Economics-Ne ... jects.html
****** says to (02:08:51):
10:08 PM [JARV] Both of these articles just came out on tv in Iraq what do you think Astro?
10:11 PM [Astro Guy] first of all the revised rate or increase in rate all mean the already decided rv value.
****** says to (02:09:09):
10:11 PM [JARV] Exactly
10:11 PM [JARV] but the they both said activated
10:11 PM [JARV] right
****** says to (02:09:31):
10:15 PM [JARV] Do you think they are activated as the articles say
10:15 PM [Astro Guy] you mean the oil contracts..
****** says to (02:09:50):
10:16 PM [JARV] yes and the investments projects
10:16 PM [Astro Guy] yes it appears to be. i dont see any reason as to why they cant be..
10:16 PM [Astro Guy] investment projects are approved as well but they kick into effect on 31 jan only
****** says to (02:10:14):
10:16 PM [JARV] With the new rates
10:16 PM [Astro Guy] yes with the new rates
10:17 PM [JARV] So wouldn't they have to rv then before they changed them
10:17 PM [Astro Guy] if they dont rv on monday 11th then they need top postpone the
****** says to (02:10:38):
election code of conduct either being published or coming into effect on jan 12
10:18 PM [Astro Guy] to postpone
10:18 PM [JARV] Thank you astro for your opinion appreciated
****** says to (02:11:09):
10:19 PM [Astro Guy] i think the code of conduct has time until feb 6 to come into effect. so for some reason they dont do rv on or before 12 jan then they wont make the code of counduct law public until rv is announced..
****** says to (02:12:04):
10:19 PM [JARV] This is getting very interesting
10:19 PM [Astro Guy] we dream it is not public yet..
10:20 PM [Astro Guy] can i take a break now
10:20 PM [JARV] Yes thank you
****** says to (02:12:09):
OK ALL DONE
****** says to (02:12:11):
THANKS

HAS THE DOLLAR BOTTOMED?

Has The Dollar Bottomed?
Posted By: Bryan Rich

For much of 2009, the dollar has been the Tiger Woods of global currencies. There has been a relentless snowball of negative sentiment. And for a period of time, seemingly everyday something new, bigger and more shocking about the buck was being circulated through the media.

As Tiger can attest, when it rains, it pours …

There was news that China was trimming its holdings of U.S. Treasury bonds because the weakening dollar posed a threat to the value of their reserves.

The dollar dropped to a 2009 low. And government bonds fell when worries over rising U.S. debt levels started circulating questions about the strength of our country’s AAA credit rating.

Bernanke responded to dollar scrutiny with this statement following his speech in Jekyll Island:

“I think the issue at hand is whether or not the dollar will retain its value, and I think it will.”

That was not exactly a resounding vote of support.

Then the BRIC countries (Brazil, Russia, India and China) got together and lobbied for the replacement of the dollar as the world reserve currency.

Gold charged back to $1,000 and broke-out to new record highs as global investors looked to gold as a hedge against a falling dollar, and the potential inflationary policies the U.S. had undertaken.

And because of rock bottom interest rates in the U.S. and the falling trajectory of the dollar, it has even been used as a new funding currency for another carry trade.

Still, How Low Did the Dollar Really Go in 2009?

The sentiment has been brutally negative for the dollar. So much so that even on days when there was no real news, the media couldn’t resist running front page doom and gloom stories about the future path of the leading global currency.

But contrary to what many may think, the dollar didn’t reach record lows. In fact, at its lowest point this past November, the buck was still 5 percent above its lows from 2008.

Take a look at this chart of the dollar index …


As you can see, the dollar index surged 26 percent from the middle of 2008. Investors from around the world were running scared and found safety from the widespread economic crisis by plowing capital into the deepest, most liquid currency in the world — the U.S. dollar.

Subsequently, the dollar declined since March of this year, as fear abated and global investors gradually reversed the safe haven trade, putting capital back to work across the globe.

But even under the intense scrutiny of the past nine months, the dollar has managed only a gradual decline relative to its sharp rise of 2008.

And despite all of the doom and gloom stories over recent months, the weight of evidence is now working in the dollar’s favor!

It Looks Like the Dollar Is Breaking Out …

Americans love a comeback. And I suspect Tiger Woods will need to win at least a few golf tournaments to repair his iconic status in the golf world.

However, I don’t think the dollar will have as tough a time redeeming itself. I believe that it’ll only have to stage a sustained bounce for a couple of months to relieve the pressure valve from the dollar haters.

Already there has been a groundswell of positive news for the dollar that makes a comeback scenario look increasingly more likely …

It kicked off with the latest employment data: A downtick in the unemployment rate and a positive surprise showing far fewer new job losses. This started shifting the market’s focus toward the prospects that the Fed might start raising rates a little earlier than consensus expectations!

Then the recent retail sales report showed a much stronger number. That was a sign that the consumer might be coming back. Another data point that has encouraged market participants to consider improved growth and higher interest rate prospects in the U.S.

So we now have two developments on the economic recovery front that are positive for the dollar.

On the other side of the equation, global economic risk is soaring! And that’s good for the dollar as a safe haven currency.

The potential for a sovereign debt crisis has surged since Dubai notified its creditors late last month that it wouldn’t be making its next payment. Now it’s Greece that’s under the microscope regarding its ability to service large government debts. And a host of other European countries are looking increasingly riskier for similar reasons.

And finally, on Wednesday, the Fed announced that it would be closing its currency swap lines with foreign central banks by February 1, 2010.

[color=red]When they opened these massive swap lines in late 2008, the goal was to alleviate the dollar liquidity crunch at banks around the world. However, in the process they increased the supply of dollars around the globe — a negative consequence for the value of the dollar. But now that these lines will be closed, it’s clearly a dollar-positive development.[/color]

So the market scrutiny is starting to shift away from the dollar. And there are plenty of ugly currencies out there that will likely take the spotlight..

http://www.traderslog.com/has-the-dollar-bottomed/