****** says to (22:08:30):
WELL IT LOOKS LIKE THE TIME MAY HAVE COME TO FINALLY TAKE THIS RV SERIOUSLY
****** says to (22:09:30):
TODAY SEVERAL OF THE CORPORATE BANKS IN THE U.S.
****** says to (22:10:03):
WERE NOTIFIED TO WATCH THEIR SCREENS FOR A MAJOR CHANGE IN THE RATE OF EXCHANGE ON THE IQD
****** says to (22:10:17):
AS I SAID I HAVE ONLY ONE TRUSTED SOURCE
****** says to (22:10:56):
AND AT FIRST WE HAD NOT HEARD ANYTHING ABOUT IT EXCEPT FROM TWO BANKS WHO CLAIMED TO HAVE GOTTEN THE MESSAGE
****** says to (22:11:31):
BUT I HAD IT CONFIRMED SEVERAL HRS AGO THAT CB WAS TOLD TO WATCH FOR A RATE CHANGE TO COME TO THEIR SCREENS OVER THE WEEKEND
****** says to (22:12:10):
THEY TALKED TO ANOTHER BANK ON THE EAST COAST AND CONFIRMED THEY ALSO GOT THE SAME HEADSUP
****** says to (22:12:40):
NOW CB DOES NOT THINK THEY CAN DO IT UNTIL THE WEEKEND BUSINESS IS OVER
****** says to (22:13:02):
WHICH IS SAT NOON TO LIKE 3PM NOT QUITE SURE
****** says to (22:14:00):
ALL I KNOW IS THEY THE BANKS HAVE BEEN NOTIFIED OF THIS AND THEY ARE WATCHING THE OUTCOME ON THE SCREENS AND WE WILL BE THE FIRST TO KNOW WHEN IT COMES IF CBI IS TRULY RV'ING
****** says to (22:14:23):
NOW THIS IS FOR ME FINALLY A VERY SERIOUS SITUATION
****** says to (22:14:39):
AND I HAVE NO RATE OR A SPECIFIC TIME OF DAY
****** says to (22:14:45):
ONLY WHAT I SAID.
****** says to (22:14:57):
BANKS CORPORATES WHERE GIVEN A HEADS UP
****** says to (22:15:09):
AND THEY ARE WAITING AND WATCHING JUST AS US
****** says to (22:15:13):
THANK YOU
****** says to (22:15:17):
ALL DONE
Friday, January 15, 2010
WORLD TRADE ORGANIZATION RULES OUT INCLUDING IRAQ THIS YEAR
January 15, 2010Rule out approval by the World Trade Organization to include Iraq by this year
Ruled out the head of the Finance Committee in the House of Representatives Alaa al-Sadoun possibility that the World Trade Organization to include Iraq by this year.
Sadoun said, told the independent press (Iba) said on Friday that the world accept the membership of countries in specific economic aspirations of the first of a state that is able to implement policies and export-oriented production level is absent is a large local by Iraq, which became a net importer of many goods and materials.
She said I do not think that Iraq's interest to work on the promotion of accession without prior study and develop a policy to protect the national product despite the global status in the event of accession. Confirmed that the majority of Iraq's current products and do not have a traditional international quality certificate, known as the (ISO).
Saadoun and noted that the organization imposes certain restrictions and conditions on the State wishing to join, and in front of this trend is necessary in Iraq to speed up the implementation of industrial development strategies.
It should be noted that Iraq is an observer member in the organization that is in the process of accession in the event of the implementation of items world-renowned.
Related articles ~
Iraq participates on the World Trade Organization meeting aspiring full membership ~ and ~ WTO
Committee on Iraq's accession to the WTO ...
FRANK26 POST - KTF MIssions
Greetings Family,
This is Nancy Newshound from WKTF with you once again and today we have Frank26 who we will be interviewing today. Thank you for being with us this evening Sir. We have some concerned viewers that have invested in the Iraqi dinar and would like to ask you some questions. Would you mind?
Yes I would.
Excuse me?
Just kidding. I understand their concern because I and my loved ones are also invested. There is a key though…….it is our money that is invested not our last hopes. Unfortunately for some ……..it is and I can respect that. Nancy if you would allow me I would much rather paint you a mural of what is happening in this month of January ……….may I?
Yes please do.
Before I start ………..may I offer you a cup of tea? I don’t drink coffee but I have a fancy for Asian teas. Also please help yourself to some of my favorite cookies………..white chocolate macadamia nut cookies.
You are a strange one. Yes thank you I’ll have a cup of tea and some cookies.
Good then allow me to begin by saying that today the 15th there were rumors of the RI being announced. For the last four days I have been interested on the 18th. That’s this Monday………….when the 1170 rate completes one year without any fluctuation. It maintained its stability which is an IMF requirement. By the way………one can easily call the IMF to inquire about these regulations. They won’t tell you when it will RI but they will certainly tell you what is required for it to do so. Banks in Iraq open on Sundays …………our banks will be closed on Monday. One can look at this in both directions. It can be good because if the announcement can be made on Sunday……..then adjustments can be made for preparation behind closed doors of our banks. The rest of the world would probably commence the exchange on Monday. It could be bad and it could be good. IMO……….I am looking at the timeframe between the 18th and the 31st. The exchange rate mechanism should be applied during this time because there is a lot of encouragement by the GOI to pass their budget as soon as possible and to activate the ERM ……….a rate increase or a currency with value is a necessity for their 2010 budget. If not they are stuck for the rest of the year with the 1170 rate. But where is the logic in that when on the 18th ………they graduated one year of requirement? It would serve no purpose to be stuck at that worthless rate for another year when this country badly needs a recognizable currency. The only way to be recognized is if their used toilet paper of a currency………..has competitive value. They need to get the 1170 rate out of the freshly poured concrete……….before it hardens again for another year.
Has there been any evidence that the GOI has been working towards this goal?
Plenty. Back in December Maliki told the UN that their goal for 2010 was to become an international financial community. The year before that………he said that it was their economic boom year. I know that it seems like a snail’s pace……….but if you could push fast forward on the last two years………this January appears to be a culmination of a lot of work and pressure. The UN holds the keys to their shackles. Their freedom lies in the wordage of CH7. It is the UN and the IMF’s ultimate goal to bring the IQD back to its original level. When Saddam was dethroned the IQD was at 3.22. It was not to be given its value again until conditions were right in Iraq to do so. There has been a revolution of change in that country……..and impressively ……….in such a short amount of time. The program rate of 1170 was to expire in this month of January. Yet we see no evidence of it. For some reason there seems to be a freezing effect across the board with many things in Iraq besides their rate. I have shown evidence in the last two weeks that the banks although open………..are doing no business. ISX again ……….showing no trading. It’s almost as if someone is using that remote control again and pushing pause just when they were about to say……ready, set……….Go. They seem to be frozen on set. This type of freezing tells you of some processes that obviously still have to be done within Iraq’s banking systems. Iraq can be seen as a firefighter……….or an astronaut……….or a scuba diver. Before any of these three would perform their duties there is a tedious checklist that they go through before entering ……..a NEW environment. It is best to take your time……….and not make a mistake. What if a skydiver rushed to jump out of the airplane with his parachute………but packed it improperly? This is what I see with the IQD trying to find value. These people are very very calculative.
Yes Frank26…….there were rumors about some eclipses that apparently were playing a part in influencing their decisions.
From the days of the Three Wise Men the stars have been very important to this region of the world. If it was important enough to find baby Jesus……….it is important enough for them to apply it in making decisions about their future. I am not trying to tell you that what happened last night is the cause of no announcement. Yet……..look at this……..notice how they consider two eclipses in one month ……….a bad omen.
The end of the phenomenon of the partial eclipse of the sun
15/01/2010م - 2:00 م | مرات القراءة: 182
15/01/2010 - 2:00 pm | Hits: 182
Has the phenomenon of the partial eclipse in Iraq at the tenth and 36 minutes of the morning Baghdad time.
".
The head of the stations at the Center for Astronomy and Space Physics Khalid Sami told the National Iraqi News Agency / NINA /: "The phenomenon lasted two hours and 11 minutes as the withholding about 20 percent of the disk of the sun in space."
The event on Friday, when the eclipse, approved in the month of Muharram of the Hijri year 1431 and also approves the month of January in the year 2010 AD This means that in one month, which is forbidden, there was a partial eclipse of the moon and the partial eclipse of the sun
http://translate.googleusercontent.c...5X74QuWgeTUxHQ
That’s very interesting Frank26. So do you feel that there will not be an announcement in this month of January?
I am a man of great faith in God and I take my prayer to Him and leave it at His throne. If you were to ask your mother or father for money to pay your bills…….would you constantly keep reminding them for this loan? I leave it in God’s hands because ……. It would be a bit embarrassing IMO. So I cannot tell you nor give you an answer of WHEN the announcement will be made…………instead my team collects daily empirical data and we analyze it. It takes the whole day because we are 8 hours behind Iraq’s time. I then take it to God in prayer and make a decision as to whether or not to post it. We offer a logical window to be considered. I will admit………back in December I fell into the hole of giving a date. It was not right but my discipline became laxed. But I must encourage you that there are so many things occurring in front of and behind closed doors that intel brings us that causes me to believe that everyday is qualified for the announcement. Every day has potential for this thing to come and surprise us in the still of the night.
Do you think that they have the backing for this rate increase?
I don’t know if it’s going to be a rate increase……..as I told you the UN wishes to reinstate the value. Yet……..if he value comes out higher than 322 then we are definitely looking at an RV. But yes they certainly have the backing to infinity. I would need a calculator to tell you how many nations have forgiven their debt in the last two years. So many loans have also been made by countries besides the IMF loans. Their SDR are mysteriously being tapped into……..which only tells me that they are making special arrangements behind closed doors to spoon feed them even more. They recently talked about the gold that Saddam had stolen being utilized. All the millions that they have been losing from black marketing of their oil across to neighboring borders has been fortified. Meters will be put on these wells very soon. Tell me Nancy……..why do you have a meter outside of your home? So that the Electric Company does not lose one single wattage of their inventory. This security and concern improperly protecting their oil refineries alone jacks up their federal reserves instantly. I am sure there are so many other funds that we are not privy to know about. All of these and the unknown funds ………lest we forget the 7 trillion IQD loan that was given……..are a very good platforms for them to launch their IQD. Even the relationship with the Kurds and Sunnis have improved in the oil department. These great advancements cannot be overlooked ……….as the HCL takes note of the improved relationships. Rumors are rumors………they can say all they want to say………but it is much more important to keep your eye on what they are doing and completely forget what they say. This is a formula hard for Westerners to accept. We seal deals with honorable contracts………relationships that can be trusted . Unfortunately we have to think differently……….as we watch them.
So Frank26 you feel the world is recognizing Iraq along with its currency ?
Yes definitely. Ever since the Investor Conventions from last year ……..which for the first time had a waiting list of over 1200 requests just to get tickets to this event……Iraq is a HOT item. Publicity on the news channels grew as they covered these conventions and for the first time the dinar was considered a smart investment publicly. Here look at this…….this article is explaining to you that the World Trade Organization (WTO) is very eager to bring Iraq on board. Articles can be deceiving that’s why I constantly say look at what they are doing. This article starts out looking negative because it looks like the WTO is ruling out any approval of Iraq. But as you read on……..which most people don’t because they give up………I want you to look at the last paragraph in red. They say that it should be noted that Iraq is an observer member of the WTO and that the WTO is in the process of ACCESSION (this is the act of one coming into the possession or the acquisition of a specific right…….in this case, IMO, Iraq’s right to be knighted with the power of buying and selling goods) In case they are to implement items of world renowned! Well sure Iraq very much wants to bring in imports and export their oil so that the whole world is aware of it. You see there are many little things that are constantly being done to get to the announcement. As investors we are too ignorant of these necessities. We measure time in a linear fashion where they are drawing from many different specific events and time that are bringing together the proper nucleus that can support the announcement. What the world banks did in the last two months with Iraq’s banking systems is priceless compared to what they are about to achieve. To be recognized world wide is a CH7 requirement.
rule out approval by the World Trade Organization to include Iraq by this year
Alaa al-Sadoun: rule out approval by the World Trade Organization to include Iraq by this year
2010-01-15 13:21:33
2010-01-15 13:21:33
BAGHDAD (Iba) .. ruled out the head of the Finance Committee in the House of Representatives Alaa al-Sadoun possibility that the World Trade Organization to include Iraq by this year.
وقال السعدون لوكالة الصحافة المستقلة ( إيبا ) اليوم الجمعة ان المنظمة العالمية تقبل عضوية الدول ضمن طموحات اقتصادية محددة اولها ان تكون الدولة قادرة على تنفيذ سياسات التصدير وذات مستوى انتاج محلي كبير وهو مايفتقر اليه العراق الذي اصبح بلدا مستوردا للكثير من السلع والبضائع والمواد .
Sadoun said, told the independent press (Iba) said on Friday that the world accept the membership of countries in specific economic aspirations of the first of a state that is able to implement policies and export-oriented production level is absent is a large local by Iraq, which became a net importer of many goods and materials.
واضافت لااعتقد ان من مصلحة العراق العمل على الترويج للانضمام دون دراسة مسبقة ووضع سياسة حماية المنتوج الوطني بالرغم من المكانة العالمية في حال الانضمام .
She said I do not think that Iraq's interest to work on the promotion of accession without prior study and develop a policy to protect the national product despite the global status in the event of accession.
مؤكدة ان غالبية المنتجات العراقية الحالية تقليدية ولاتمتلك شهادة الجودة العالمية المعروفة بـ( ISO ) .
Confirmed that the majority of Iraq's current products and do not have a traditional international quality certificate, known as the (ISO).
ونوهت السعدون الى ان المنظمة تفرض قيودا وشروطا معينة على الدولة الراغبة بالانضمام ، وامام هذا التوجه بات ضروريا على العراق الاسراع في تنفيذ ستراتيجيات التطور الصناعي .
Saadoun and noted that the organization imposes certain restrictions and conditions on the State wishing to join, and in front of this trend is necessary in Iraq to speed up the implementation of industrial development strategies.
تجدر الاشارة الى ان العراق عضو مراقب في المنظمة اي في طور الانضمام في حال تنفيذ البنود العالمية المعروفة .(النهاية)/20/
It should be noted that Iraq is an observer member in the organization that is in the process of accession in the event of the implementation of items world-renowned. (End) / 20 /
http://translate.googleusercontent.c...2bEoHSajiwLZHw
Once again Frank26 these are interesting points …….what else do you have there?
I want you to take a look at this article and keep in mind that the US has been flooding Iraq with money so that they can get their oil productions and infrastructure back on line. What I find very encouraging is that the US has turned over a lot of these activities into the hands of the GOI. Read the red highlights……….do you see where Maliki issued orders to Basra oil production about two months ago? First of all he is “ISSUING ORDERS” and they are obeying them…….that’s either amazing or progress. But most of all take note that it was done “TWO MONTHS” ago! That reveals internal agreements that certainly were not publicized back then in the oil industry but are very transparent today. This is fantastic that Basra is on board and cooperating! It’s exciting for the HCL. It’s exciting for us investors because I have always said that when you see the HCL in the next breath you will see the RI. The 2010 budget has been the COMMON DENOMINATOR found in so many events in this month of January. I truly believe this 5% is just another step to where we need to go with the announcement.
Basra governor: get back money after a good pass rate of 5%
The governor of Basra, on Thursday, said Basra Stsalha amounts of good after the application of the decision to levy 5% of the fees for border crossing points,but the eyes remain fixed on a half dollar for every barrel of Basra and issued as ordered by the Prime Minister, pointing out that Basra is looking forward to the approval of the House of Representatives to do so.
Prime Minister Nuri al-Maliki has ordered two months ago to allocate half a dollar on every barrel of oil exported from Basra, but the decision was still in the corridors of Parliament.
The Cltag Mayah in a gathering of many of the journalists on the sidelines of a conference held at the City Hall, said, "well Basra Stsalha amounts from the application of the decision to levy duties on goods entering the province through its border, but oureyes are fixed on half dollars from oil exports, Basra, ordered by Prime Minister, because the city of Basra a large and important and need more money to repair its infrastructure. "
The Mayah that the Minister of Finance "as far as the needs of Basra for the reconstruction of infrastructure is estimated at 32 billion dollars."
The Cabinet decided to allocate 5% of the fees levied on goods entering through the ports of Basra border of the province, Basra has a seven border points, including two implementing Brian and five ports freely.
The former provincial council meets the 1% fee goods entering the province, and the amount of revenue, official sources said about five billion dinars a month.
The Mayah "We said at the outset that the budget for development of the Territories of $ 220 billion dinars, which will go half to extinguish the debt of previous projects, not enough for one sector of the vital sectors of the province, and we look forward to the supplementary budget," afterthought, "but the final decision we were very pleased, and made us in the position of optimism the future of the city. "
Mayah revealed that the decision to allocate 5% of the fees Almstoft of Basra, which cabinet approved "does not require the consent of the House of Representatives, but will be approved directly within the 2010 budget."
http://translate.googleusercontent.c...Uz182IX0I6mrDg
U.S. reconstruction team in Basra: We will move the financing of infrastructure projects to the Iraqi side.
Head of the U.S. reconstruction team in Basra on Thursday that funding for infrastructure projects will move to preserve the Iraqi side, pointing at the same time that the efforts of reconstruction team in the coming stage will focus on the training of government employees in the province”.
The President of the U.S. reconstruction team, John Niln during a joint news conference with the Governor of Basra and was attended by President of the Provincial Agency(Voices of Iraq), "over the next year 2011 we start new projects will be focused on providing training and technical advice and technical assistance to government employees," adding that " responsibility for financing the infrastructure projects will be transferred to the Iraqi government. "
"The projects we are working on in Basra province, worth more than $ 120 million awarded from the United States of America to lift the standard of living in Basra."
He continued that "These assignments are distributed on the spending of $ 40 million to ensure enough potable water and 25 million dollars for sewer and $ 20 million for the development of electricity networks has also been allocated $ 20 million to build new infrastructure in Basra."
Abizaid and Niln "has also been allocated $ 15 million for the rehabilitation of the judicial and security installations while $ 10 million for the removal and garbage."
He noted that "These projects have been initiated since 2009 and the other part will be implemented during this year."
http://translate.googleusercontent.c...-ome3uF0-cj6ag
So many pieces Frank26 makes it rather difficult to keep track of the proceedings doesn’t it?
Difficult? No…….for us investors it’s a nightmare. To understand these complexities of economics would take a doctorate degree x 2.
They had a roundup of bad guys this past Wednesday. That shows that they are protecting their nation………and our investment.
SOFA removed us earlier this year. But they got us off the couch…..LOL……….sorry about that. But I mean it sincerely. Take a look at this article. US Armored Division taking over the command of joint operations in Baghdad screams the opposite of SOFA. Did they do the work in removing the insurgents this week? I truly don’t know………I stopped my intel at that time. It was my way of showing my respect to my nation. But I can tell you this Nancy…….I am pleased ……….that we are still there being the bulldogs that we need to be.
U.S. Armored Division take over the command of joint operations in Baghdad
Received the First Armored Division in the U.S. Army First Cavalry Division assumed the command of joint operations in Baghdad and the leadership of the U.S. military task force in central Iraq.
وأضاف بيان صادر عن الجيش الأميركي الخميس أن حفلا أقيم بالمناسبة الأربعاء حضره قائد القوات الأميركية في العراق الجنرال راي أوديرنو وكبار الضباط في القوات الأميركية والعراقية.
The statement issued by the U.S. military held a ceremony Thursday that the way Wednesday with the top U.S. commander in Iraq, General Ray Odierno, and senior officers in the U.S. and Iraqi forces.
http://translate.googleusercontent.c...7dEPgoBHptiAGg
I know our time is getting short Frank26 may I ask you one or two more questions?
No worries……..how can I help you?
There are rumors that the IMF requires value to Iraq’s currency before they make their first payment to them. Something about 30 or 45 days before the payment date. Do you know anything about that?
To be honest…….very little. It looks like the IMF is waiting before they even tell Iraq when to make their first payment and for how much. The truth of the matter is that what we are hearing right now is a payment that is due for ……..”DUES” and SDR Assessments…….. not for a loan. Here take a look at this article. IMO….until the IQD goes up in value……..we may not see the loan payments to the IMF.
Iraq projected payments to the IMF
Assessments_SDR May 01, 2010 84,743
http://www.imf.org/external/np/fin/t...&extend=y#Desc
You have mentioned the 2010 budget that seems to be tangible to so many activities leading to the announcement. When do you think it will be done?
Once again………less words from me ………as you read this article. The red highlighted areas seem to be indicating the day after my 18th. Next Tuesday ……..is a possibility. Keep in mind this is written in the sands of Iraq and this time of the year ……….there are high winds. Anything ………can change over there and erase the writing in the sand.
Salim al: the balance is now complete and will vote for next week
2010-01-14 15:42:47
BAGHDAD (Iba) .. According to a member Council of Representatives proper Jubouri federal budget for 2010 is now complete and there are some questions that needed legal committee be completed through dialogue with the Ministry of Finance.
Jubouri said told the independent press (Iba) that next week will vote on the budget bill, the Federal recognition of the need for approval and the fear that change may have a negative impact on the civic life of the people.
"There are some points of contention on the budget but does not live up to the level of objection to a great team at key points in the budget.
He suggested that the vote on the budget depends on the presence of members of the House and a quorum until the Council decides next Tuesday is to vote on the budget.
Wicker said the government indicated that some parliamentary blocs depends delay approving the budget for electoral purposes and to influence the work of the government, and denied that members of the House of Representatives. (End) / 11 / g / ..
http://www.ipairaq.com/index.php?nam...onomy&id=19919
You said the HCL is important for the announcement but is it a necessity? IMO……….no. Within the four parts of the HCL……..three of them belong to the oil industry and they are done. The other one belongs to the people of Iraq. It would be wonderful to have the HCL pass but the Kurds have not been in a hospitable mood lately. But miracles do happen in this land. Once again ……..read this gold mine of an article! How can these actions be occurring when there is no HCL? Remember this is a land where a few lies in politics can get you a long way. They may not necessarily be direct lies………but they also need not tell you the whole truth!!! If this article is anywhere near true it is highly possible that the HCL ……..is done and waiting for the right eclipse so that it can come out in to the open. Like a vampire…….the HCL has been fearful to come out in the light for fear of being consumed by fire. And it will Nancy……….remember to take a look at the top of the oil refineries when the HCL lights them.
Iraq to pay Kurdish oil deals
Thursday, January 14th 2010 9:20 AM
Erbil, Jan. 14 (AKnews) – Iraq is set to grant the Kurdistan Regional Government (KRG) a green light to sign deals with foreign oil companies on the grounds that Baghdad could see the contracts transparent in order to fund them, an official said on Thursday.
“Iraqi oil minister Hussein Shahristani funds the KRG oil deals after his ministry reviews the deals,” said Iraqi MP on oil and gas committee Bayazid Hassan.
According to Hassan, Iraqi government pays companies interesting rate if the Kurdish deals are transparent, if not Iraq pays the rate from the 17 percent of the KRG budget.
Kurdistan Region exports 100 barrels of oil per day (bpd) and it is likely to increase it to 150 pbd by end of 2010.
The KRG oil income per year would reach US$555 millions if each barrel sold by US$70, Hassan said.
He concluded with saying block of Kurdish oil export would harm the Iraqi economy.
ba gs AKnews
http://www.aknews.com/en/aknews/2/103297/
I see you looking at your watch Frank26……do you have time for one more question?
Yes Nancy………I have to get going and pick up my brother Knarf. He is visiting Higgins from Magnum P.I. ………..please keep Higgins in your prayers. He is up in age now and is somewhat immobile.
Are you serious Frank26?
Of course I am……….now what is your last question?
Can you talk to me about a currency basket and the potential of ME countries with the GCC including the IQD?
Why should we………that’s old news and I told you I am talking about this month of January. Why don’t I tell you instead about a currency that once again becomes the COMMON DENOMINATOR to a lot of precursors leading to the announcement. One of the big hold ups has been KU………..they are done. The next one was China. What would you say if I told you that China is going to revalue their currency? What if I told you there is great pressure…….hmmm I wonder why……..for them to revalue? BUT!!! What if I told you ………THAT THEY HAVE TO? Let’s say that they did. Do you realize that just 10% of their revaluation would be enough to help the world’s economies stabilize? China’s foreign exchange reserves know absolutely no limit. There is no end in sight to their growth! There foreign exchange reserves are over 2.4 trillion dollars. Forget about what has been talked about in the past with a basket for the GCC. They need China to revalue ……….to support everyone else. I don’t have the time because I have to go now but let me leave you a stack of articles below that I want you to carefully read. Next time we are together ……….I will answer your China questions in more detail. For now I will leave you with this last and final thought. Tell me Nancy……..why is the Vice President of Iraq Adil Abdul Mahdi meeting in the White House with Obama and the Secretary of Defense Robert Gates at this moment as we speak?
I don’t know Frank26. Do you?
Hmmm………remember when they said they found no WMD in Iraq? They forgot that the biggest WMD was ………..Saddam himself. Nice talking to you ma’am. You can take those cookies home with you along with these articles. It was an honor to talk to you ……..maybe next time ……….I will have more to say. For now Nancy I believe we have had ……….a Frank discussion.
·China faces curse of a too-rapid recovery
China's trade boomed in December. And in doing so, it took away one of Beijing's main justifications for keeping the nation's currency artificially cheap.
http://www.telegraph.co.uk/finance/china-business/6966592/China-faces-curse-of-a-too-rapid-recovery.html
········JANUARY 13, 2010, 2:16 P.M. ET
Trade Flows Show China Must Revalue Yuan Soon
http://online.wsj.com/article/SB10001424052748704362004575000772841658194.html?m od=WSJ_Markets_LEFTSecondNews
·JANUARY 14, 2010, 12:01 P.M. ET
China Yuan Revaluation Prospects Heat Up
http://online.wsj.com/article/SB1000...LEFTSecondNews
China’s Forex Reserves Growing to Infinity
Posted: January 15, 2010 at 8:27 am
China’s central bank showed that its foreign exchange reserves rose to a record $2.399 trillion at the end of 2009.
http://247wallst.com/2010/01/15/chin...g-to-infinity/
Iraq: List of countries by foreign exchange reserves
Iraq ranked # 29 in world
http://en.wikipedia.org/wiki/List_of...hange_reserves
This is Nancy Newshound from WKTF with you once again and today we have Frank26 who we will be interviewing today. Thank you for being with us this evening Sir. We have some concerned viewers that have invested in the Iraqi dinar and would like to ask you some questions. Would you mind?
Yes I would.
Excuse me?
Just kidding. I understand their concern because I and my loved ones are also invested. There is a key though…….it is our money that is invested not our last hopes. Unfortunately for some ……..it is and I can respect that. Nancy if you would allow me I would much rather paint you a mural of what is happening in this month of January ……….may I?
Yes please do.
Before I start ………..may I offer you a cup of tea? I don’t drink coffee but I have a fancy for Asian teas. Also please help yourself to some of my favorite cookies………..white chocolate macadamia nut cookies.
You are a strange one. Yes thank you I’ll have a cup of tea and some cookies.
Good then allow me to begin by saying that today the 15th there were rumors of the RI being announced. For the last four days I have been interested on the 18th. That’s this Monday………….when the 1170 rate completes one year without any fluctuation. It maintained its stability which is an IMF requirement. By the way………one can easily call the IMF to inquire about these regulations. They won’t tell you when it will RI but they will certainly tell you what is required for it to do so. Banks in Iraq open on Sundays …………our banks will be closed on Monday. One can look at this in both directions. It can be good because if the announcement can be made on Sunday……..then adjustments can be made for preparation behind closed doors of our banks. The rest of the world would probably commence the exchange on Monday. It could be bad and it could be good. IMO……….I am looking at the timeframe between the 18th and the 31st. The exchange rate mechanism should be applied during this time because there is a lot of encouragement by the GOI to pass their budget as soon as possible and to activate the ERM ……….a rate increase or a currency with value is a necessity for their 2010 budget. If not they are stuck for the rest of the year with the 1170 rate. But where is the logic in that when on the 18th ………they graduated one year of requirement? It would serve no purpose to be stuck at that worthless rate for another year when this country badly needs a recognizable currency. The only way to be recognized is if their used toilet paper of a currency………..has competitive value. They need to get the 1170 rate out of the freshly poured concrete……….before it hardens again for another year.
Has there been any evidence that the GOI has been working towards this goal?
Plenty. Back in December Maliki told the UN that their goal for 2010 was to become an international financial community. The year before that………he said that it was their economic boom year. I know that it seems like a snail’s pace……….but if you could push fast forward on the last two years………this January appears to be a culmination of a lot of work and pressure. The UN holds the keys to their shackles. Their freedom lies in the wordage of CH7. It is the UN and the IMF’s ultimate goal to bring the IQD back to its original level. When Saddam was dethroned the IQD was at 3.22. It was not to be given its value again until conditions were right in Iraq to do so. There has been a revolution of change in that country……..and impressively ……….in such a short amount of time. The program rate of 1170 was to expire in this month of January. Yet we see no evidence of it. For some reason there seems to be a freezing effect across the board with many things in Iraq besides their rate. I have shown evidence in the last two weeks that the banks although open………..are doing no business. ISX again ……….showing no trading. It’s almost as if someone is using that remote control again and pushing pause just when they were about to say……ready, set……….Go. They seem to be frozen on set. This type of freezing tells you of some processes that obviously still have to be done within Iraq’s banking systems. Iraq can be seen as a firefighter……….or an astronaut……….or a scuba diver. Before any of these three would perform their duties there is a tedious checklist that they go through before entering ……..a NEW environment. It is best to take your time……….and not make a mistake. What if a skydiver rushed to jump out of the airplane with his parachute………but packed it improperly? This is what I see with the IQD trying to find value. These people are very very calculative.
Yes Frank26…….there were rumors about some eclipses that apparently were playing a part in influencing their decisions.
From the days of the Three Wise Men the stars have been very important to this region of the world. If it was important enough to find baby Jesus……….it is important enough for them to apply it in making decisions about their future. I am not trying to tell you that what happened last night is the cause of no announcement. Yet……..look at this……..notice how they consider two eclipses in one month ……….a bad omen.
The end of the phenomenon of the partial eclipse of the sun
15/01/2010م - 2:00 م | مرات القراءة: 182
15/01/2010 - 2:00 pm | Hits: 182
Has the phenomenon of the partial eclipse in Iraq at the tenth and 36 minutes of the morning Baghdad time.
".
The head of the stations at the Center for Astronomy and Space Physics Khalid Sami told the National Iraqi News Agency / NINA /: "The phenomenon lasted two hours and 11 minutes as the withholding about 20 percent of the disk of the sun in space."
The event on Friday, when the eclipse, approved in the month of Muharram of the Hijri year 1431 and also approves the month of January in the year 2010 AD This means that in one month, which is forbidden, there was a partial eclipse of the moon and the partial eclipse of the sun
http://translate.googleusercontent.c...5X74QuWgeTUxHQ
That’s very interesting Frank26. So do you feel that there will not be an announcement in this month of January?
I am a man of great faith in God and I take my prayer to Him and leave it at His throne. If you were to ask your mother or father for money to pay your bills…….would you constantly keep reminding them for this loan? I leave it in God’s hands because ……. It would be a bit embarrassing IMO. So I cannot tell you nor give you an answer of WHEN the announcement will be made…………instead my team collects daily empirical data and we analyze it. It takes the whole day because we are 8 hours behind Iraq’s time. I then take it to God in prayer and make a decision as to whether or not to post it. We offer a logical window to be considered. I will admit………back in December I fell into the hole of giving a date. It was not right but my discipline became laxed. But I must encourage you that there are so many things occurring in front of and behind closed doors that intel brings us that causes me to believe that everyday is qualified for the announcement. Every day has potential for this thing to come and surprise us in the still of the night.
Do you think that they have the backing for this rate increase?
I don’t know if it’s going to be a rate increase……..as I told you the UN wishes to reinstate the value. Yet……..if he value comes out higher than 322 then we are definitely looking at an RV. But yes they certainly have the backing to infinity. I would need a calculator to tell you how many nations have forgiven their debt in the last two years. So many loans have also been made by countries besides the IMF loans. Their SDR are mysteriously being tapped into……..which only tells me that they are making special arrangements behind closed doors to spoon feed them even more. They recently talked about the gold that Saddam had stolen being utilized. All the millions that they have been losing from black marketing of their oil across to neighboring borders has been fortified. Meters will be put on these wells very soon. Tell me Nancy……..why do you have a meter outside of your home? So that the Electric Company does not lose one single wattage of their inventory. This security and concern improperly protecting their oil refineries alone jacks up their federal reserves instantly. I am sure there are so many other funds that we are not privy to know about. All of these and the unknown funds ………lest we forget the 7 trillion IQD loan that was given……..are a very good platforms for them to launch their IQD. Even the relationship with the Kurds and Sunnis have improved in the oil department. These great advancements cannot be overlooked ……….as the HCL takes note of the improved relationships. Rumors are rumors………they can say all they want to say………but it is much more important to keep your eye on what they are doing and completely forget what they say. This is a formula hard for Westerners to accept. We seal deals with honorable contracts………relationships that can be trusted . Unfortunately we have to think differently……….as we watch them.
So Frank26 you feel the world is recognizing Iraq along with its currency ?
Yes definitely. Ever since the Investor Conventions from last year ……..which for the first time had a waiting list of over 1200 requests just to get tickets to this event……Iraq is a HOT item. Publicity on the news channels grew as they covered these conventions and for the first time the dinar was considered a smart investment publicly. Here look at this…….this article is explaining to you that the World Trade Organization (WTO) is very eager to bring Iraq on board. Articles can be deceiving that’s why I constantly say look at what they are doing. This article starts out looking negative because it looks like the WTO is ruling out any approval of Iraq. But as you read on……..which most people don’t because they give up………I want you to look at the last paragraph in red. They say that it should be noted that Iraq is an observer member of the WTO and that the WTO is in the process of ACCESSION (this is the act of one coming into the possession or the acquisition of a specific right…….in this case, IMO, Iraq’s right to be knighted with the power of buying and selling goods) In case they are to implement items of world renowned! Well sure Iraq very much wants to bring in imports and export their oil so that the whole world is aware of it. You see there are many little things that are constantly being done to get to the announcement. As investors we are too ignorant of these necessities. We measure time in a linear fashion where they are drawing from many different specific events and time that are bringing together the proper nucleus that can support the announcement. What the world banks did in the last two months with Iraq’s banking systems is priceless compared to what they are about to achieve. To be recognized world wide is a CH7 requirement.
rule out approval by the World Trade Organization to include Iraq by this year
Alaa al-Sadoun: rule out approval by the World Trade Organization to include Iraq by this year
2010-01-15 13:21:33
2010-01-15 13:21:33
BAGHDAD (Iba) .. ruled out the head of the Finance Committee in the House of Representatives Alaa al-Sadoun possibility that the World Trade Organization to include Iraq by this year.
وقال السعدون لوكالة الصحافة المستقلة ( إيبا ) اليوم الجمعة ان المنظمة العالمية تقبل عضوية الدول ضمن طموحات اقتصادية محددة اولها ان تكون الدولة قادرة على تنفيذ سياسات التصدير وذات مستوى انتاج محلي كبير وهو مايفتقر اليه العراق الذي اصبح بلدا مستوردا للكثير من السلع والبضائع والمواد .
Sadoun said, told the independent press (Iba) said on Friday that the world accept the membership of countries in specific economic aspirations of the first of a state that is able to implement policies and export-oriented production level is absent is a large local by Iraq, which became a net importer of many goods and materials.
واضافت لااعتقد ان من مصلحة العراق العمل على الترويج للانضمام دون دراسة مسبقة ووضع سياسة حماية المنتوج الوطني بالرغم من المكانة العالمية في حال الانضمام .
She said I do not think that Iraq's interest to work on the promotion of accession without prior study and develop a policy to protect the national product despite the global status in the event of accession.
مؤكدة ان غالبية المنتجات العراقية الحالية تقليدية ولاتمتلك شهادة الجودة العالمية المعروفة بـ( ISO ) .
Confirmed that the majority of Iraq's current products and do not have a traditional international quality certificate, known as the (ISO).
ونوهت السعدون الى ان المنظمة تفرض قيودا وشروطا معينة على الدولة الراغبة بالانضمام ، وامام هذا التوجه بات ضروريا على العراق الاسراع في تنفيذ ستراتيجيات التطور الصناعي .
Saadoun and noted that the organization imposes certain restrictions and conditions on the State wishing to join, and in front of this trend is necessary in Iraq to speed up the implementation of industrial development strategies.
تجدر الاشارة الى ان العراق عضو مراقب في المنظمة اي في طور الانضمام في حال تنفيذ البنود العالمية المعروفة .(النهاية)/20/
It should be noted that Iraq is an observer member in the organization that is in the process of accession in the event of the implementation of items world-renowned. (End) / 20 /
http://translate.googleusercontent.c...2bEoHSajiwLZHw
Once again Frank26 these are interesting points …….what else do you have there?
I want you to take a look at this article and keep in mind that the US has been flooding Iraq with money so that they can get their oil productions and infrastructure back on line. What I find very encouraging is that the US has turned over a lot of these activities into the hands of the GOI. Read the red highlights……….do you see where Maliki issued orders to Basra oil production about two months ago? First of all he is “ISSUING ORDERS” and they are obeying them…….that’s either amazing or progress. But most of all take note that it was done “TWO MONTHS” ago! That reveals internal agreements that certainly were not publicized back then in the oil industry but are very transparent today. This is fantastic that Basra is on board and cooperating! It’s exciting for the HCL. It’s exciting for us investors because I have always said that when you see the HCL in the next breath you will see the RI. The 2010 budget has been the COMMON DENOMINATOR found in so many events in this month of January. I truly believe this 5% is just another step to where we need to go with the announcement.
Basra governor: get back money after a good pass rate of 5%
The governor of Basra, on Thursday, said Basra Stsalha amounts of good after the application of the decision to levy 5% of the fees for border crossing points,but the eyes remain fixed on a half dollar for every barrel of Basra and issued as ordered by the Prime Minister, pointing out that Basra is looking forward to the approval of the House of Representatives to do so.
Prime Minister Nuri al-Maliki has ordered two months ago to allocate half a dollar on every barrel of oil exported from Basra, but the decision was still in the corridors of Parliament.
The Cltag Mayah in a gathering of many of the journalists on the sidelines of a conference held at the City Hall, said, "well Basra Stsalha amounts from the application of the decision to levy duties on goods entering the province through its border, but oureyes are fixed on half dollars from oil exports, Basra, ordered by Prime Minister, because the city of Basra a large and important and need more money to repair its infrastructure. "
The Mayah that the Minister of Finance "as far as the needs of Basra for the reconstruction of infrastructure is estimated at 32 billion dollars."
The Cabinet decided to allocate 5% of the fees levied on goods entering through the ports of Basra border of the province, Basra has a seven border points, including two implementing Brian and five ports freely.
The former provincial council meets the 1% fee goods entering the province, and the amount of revenue, official sources said about five billion dinars a month.
The Mayah "We said at the outset that the budget for development of the Territories of $ 220 billion dinars, which will go half to extinguish the debt of previous projects, not enough for one sector of the vital sectors of the province, and we look forward to the supplementary budget," afterthought, "but the final decision we were very pleased, and made us in the position of optimism the future of the city. "
Mayah revealed that the decision to allocate 5% of the fees Almstoft of Basra, which cabinet approved "does not require the consent of the House of Representatives, but will be approved directly within the 2010 budget."
http://translate.googleusercontent.c...Uz182IX0I6mrDg
U.S. reconstruction team in Basra: We will move the financing of infrastructure projects to the Iraqi side.
Head of the U.S. reconstruction team in Basra on Thursday that funding for infrastructure projects will move to preserve the Iraqi side, pointing at the same time that the efforts of reconstruction team in the coming stage will focus on the training of government employees in the province”.
The President of the U.S. reconstruction team, John Niln during a joint news conference with the Governor of Basra and was attended by President of the Provincial Agency(Voices of Iraq), "over the next year 2011 we start new projects will be focused on providing training and technical advice and technical assistance to government employees," adding that " responsibility for financing the infrastructure projects will be transferred to the Iraqi government. "
"The projects we are working on in Basra province, worth more than $ 120 million awarded from the United States of America to lift the standard of living in Basra."
He continued that "These assignments are distributed on the spending of $ 40 million to ensure enough potable water and 25 million dollars for sewer and $ 20 million for the development of electricity networks has also been allocated $ 20 million to build new infrastructure in Basra."
Abizaid and Niln "has also been allocated $ 15 million for the rehabilitation of the judicial and security installations while $ 10 million for the removal and garbage."
He noted that "These projects have been initiated since 2009 and the other part will be implemented during this year."
http://translate.googleusercontent.c...-ome3uF0-cj6ag
So many pieces Frank26 makes it rather difficult to keep track of the proceedings doesn’t it?
Difficult? No…….for us investors it’s a nightmare. To understand these complexities of economics would take a doctorate degree x 2.
They had a roundup of bad guys this past Wednesday. That shows that they are protecting their nation………and our investment.
SOFA removed us earlier this year. But they got us off the couch…..LOL……….sorry about that. But I mean it sincerely. Take a look at this article. US Armored Division taking over the command of joint operations in Baghdad screams the opposite of SOFA. Did they do the work in removing the insurgents this week? I truly don’t know………I stopped my intel at that time. It was my way of showing my respect to my nation. But I can tell you this Nancy…….I am pleased ……….that we are still there being the bulldogs that we need to be.
U.S. Armored Division take over the command of joint operations in Baghdad
Received the First Armored Division in the U.S. Army First Cavalry Division assumed the command of joint operations in Baghdad and the leadership of the U.S. military task force in central Iraq.
وأضاف بيان صادر عن الجيش الأميركي الخميس أن حفلا أقيم بالمناسبة الأربعاء حضره قائد القوات الأميركية في العراق الجنرال راي أوديرنو وكبار الضباط في القوات الأميركية والعراقية.
The statement issued by the U.S. military held a ceremony Thursday that the way Wednesday with the top U.S. commander in Iraq, General Ray Odierno, and senior officers in the U.S. and Iraqi forces.
http://translate.googleusercontent.c...7dEPgoBHptiAGg
I know our time is getting short Frank26 may I ask you one or two more questions?
No worries……..how can I help you?
There are rumors that the IMF requires value to Iraq’s currency before they make their first payment to them. Something about 30 or 45 days before the payment date. Do you know anything about that?
To be honest…….very little. It looks like the IMF is waiting before they even tell Iraq when to make their first payment and for how much. The truth of the matter is that what we are hearing right now is a payment that is due for ……..”DUES” and SDR Assessments…….. not for a loan. Here take a look at this article. IMO….until the IQD goes up in value……..we may not see the loan payments to the IMF.
Iraq projected payments to the IMF
Assessments_SDR May 01, 2010 84,743
http://www.imf.org/external/np/fin/t...&extend=y#Desc
You have mentioned the 2010 budget that seems to be tangible to so many activities leading to the announcement. When do you think it will be done?
Once again………less words from me ………as you read this article. The red highlighted areas seem to be indicating the day after my 18th. Next Tuesday ……..is a possibility. Keep in mind this is written in the sands of Iraq and this time of the year ……….there are high winds. Anything ………can change over there and erase the writing in the sand.
Salim al: the balance is now complete and will vote for next week
2010-01-14 15:42:47
BAGHDAD (Iba) .. According to a member Council of Representatives proper Jubouri federal budget for 2010 is now complete and there are some questions that needed legal committee be completed through dialogue with the Ministry of Finance.
Jubouri said told the independent press (Iba) that next week will vote on the budget bill, the Federal recognition of the need for approval and the fear that change may have a negative impact on the civic life of the people.
"There are some points of contention on the budget but does not live up to the level of objection to a great team at key points in the budget.
He suggested that the vote on the budget depends on the presence of members of the House and a quorum until the Council decides next Tuesday is to vote on the budget.
Wicker said the government indicated that some parliamentary blocs depends delay approving the budget for electoral purposes and to influence the work of the government, and denied that members of the House of Representatives. (End) / 11 / g / ..
http://www.ipairaq.com/index.php?nam...onomy&id=19919
You said the HCL is important for the announcement but is it a necessity? IMO……….no. Within the four parts of the HCL……..three of them belong to the oil industry and they are done. The other one belongs to the people of Iraq. It would be wonderful to have the HCL pass but the Kurds have not been in a hospitable mood lately. But miracles do happen in this land. Once again ……..read this gold mine of an article! How can these actions be occurring when there is no HCL? Remember this is a land where a few lies in politics can get you a long way. They may not necessarily be direct lies………but they also need not tell you the whole truth!!! If this article is anywhere near true it is highly possible that the HCL ……..is done and waiting for the right eclipse so that it can come out in to the open. Like a vampire…….the HCL has been fearful to come out in the light for fear of being consumed by fire. And it will Nancy……….remember to take a look at the top of the oil refineries when the HCL lights them.
Iraq to pay Kurdish oil deals
Thursday, January 14th 2010 9:20 AM
Erbil, Jan. 14 (AKnews) – Iraq is set to grant the Kurdistan Regional Government (KRG) a green light to sign deals with foreign oil companies on the grounds that Baghdad could see the contracts transparent in order to fund them, an official said on Thursday.
“Iraqi oil minister Hussein Shahristani funds the KRG oil deals after his ministry reviews the deals,” said Iraqi MP on oil and gas committee Bayazid Hassan.
According to Hassan, Iraqi government pays companies interesting rate if the Kurdish deals are transparent, if not Iraq pays the rate from the 17 percent of the KRG budget.
Kurdistan Region exports 100 barrels of oil per day (bpd) and it is likely to increase it to 150 pbd by end of 2010.
The KRG oil income per year would reach US$555 millions if each barrel sold by US$70, Hassan said.
He concluded with saying block of Kurdish oil export would harm the Iraqi economy.
ba gs AKnews
http://www.aknews.com/en/aknews/2/103297/
I see you looking at your watch Frank26……do you have time for one more question?
Yes Nancy………I have to get going and pick up my brother Knarf. He is visiting Higgins from Magnum P.I. ………..please keep Higgins in your prayers. He is up in age now and is somewhat immobile.
Are you serious Frank26?
Of course I am……….now what is your last question?
Can you talk to me about a currency basket and the potential of ME countries with the GCC including the IQD?
Why should we………that’s old news and I told you I am talking about this month of January. Why don’t I tell you instead about a currency that once again becomes the COMMON DENOMINATOR to a lot of precursors leading to the announcement. One of the big hold ups has been KU………..they are done. The next one was China. What would you say if I told you that China is going to revalue their currency? What if I told you there is great pressure…….hmmm I wonder why……..for them to revalue? BUT!!! What if I told you ………THAT THEY HAVE TO? Let’s say that they did. Do you realize that just 10% of their revaluation would be enough to help the world’s economies stabilize? China’s foreign exchange reserves know absolutely no limit. There is no end in sight to their growth! There foreign exchange reserves are over 2.4 trillion dollars. Forget about what has been talked about in the past with a basket for the GCC. They need China to revalue ……….to support everyone else. I don’t have the time because I have to go now but let me leave you a stack of articles below that I want you to carefully read. Next time we are together ……….I will answer your China questions in more detail. For now I will leave you with this last and final thought. Tell me Nancy……..why is the Vice President of Iraq Adil Abdul Mahdi meeting in the White House with Obama and the Secretary of Defense Robert Gates at this moment as we speak?
I don’t know Frank26. Do you?
Hmmm………remember when they said they found no WMD in Iraq? They forgot that the biggest WMD was ………..Saddam himself. Nice talking to you ma’am. You can take those cookies home with you along with these articles. It was an honor to talk to you ……..maybe next time ……….I will have more to say. For now Nancy I believe we have had ……….a Frank discussion.
·China faces curse of a too-rapid recovery
China's trade boomed in December. And in doing so, it took away one of Beijing's main justifications for keeping the nation's currency artificially cheap.
http://www.telegraph.co.uk/finance/china-business/6966592/China-faces-curse-of-a-too-rapid-recovery.html
········JANUARY 13, 2010, 2:16 P.M. ET
Trade Flows Show China Must Revalue Yuan Soon
http://online.wsj.com/article/SB10001424052748704362004575000772841658194.html?m od=WSJ_Markets_LEFTSecondNews
·JANUARY 14, 2010, 12:01 P.M. ET
China Yuan Revaluation Prospects Heat Up
http://online.wsj.com/article/SB1000...LEFTSecondNews
China’s Forex Reserves Growing to Infinity
Posted: January 15, 2010 at 8:27 am
China’s central bank showed that its foreign exchange reserves rose to a record $2.399 trillion at the end of 2009.
http://247wallst.com/2010/01/15/chin...g-to-infinity/
Iraq: List of countries by foreign exchange reserves
Iraq ranked # 29 in world
http://en.wikipedia.org/wiki/List_of...hange_reserves
SFMEDIC CHAT - Dinar Vets 1/15/10 @ 12:06pm EST
kadrock50 says to (12:06:55):
I think a lot of it is 'smoke and mirrors' to purposely throw the public off, what do you guys think?
dinarham says to (12:06:59):
Maybe one of their last ducks is the 1 year 1170 benchmark
Polarbear says to (12:07:06):
the US is going to pull out at some time so they
****** says to (12:07:11):
WE ALREADY KNOW THAT THE U.S. LEVERAGED HELP WITH THE SECURITY FILES FOR THE ECONOMIC FILES.
brownbaby says to (12:07:18):
Damluji: Najaf bombings caused by poor coordination between the security services http://www.dinarspeculator.com/showthread.php?p=21203#post21203
Polarbear says to (12:07:18):
will have to fend for them selves
****** says to (12:07:49):
AND YOU ARE TALKING ABOUT AN ENTITIY THAT CAN'T BE INFLUENCED
****** says to (12:08:11):
YOU FORGET YOU ARE SAYING INFLUENCING WHO? THE GOI RIGHT?
****** says to (12:08:34):
WHAT DOES THE GOI HAVE TO DO WITH THE CENRAL BANK
****** says to (12:08:38):
NOTHING
****** says to (12:08:42):
EXCEPT TO AUDIT
****** says to (12:08:47):
AND OVERSIGHT
****** says to (12:09:11):
THEY DO NOT HAVE ANY AUTHORITY TO FORCE MONETARY POLICIES ON SHABIBI
****** says to (12:09:33):
THAT WAS TAKEN CARE OF WHEN THE CONSTITUTION WAS WRITTEN
****** says to (12:09:56):
I BELIEVE THE REFERENCE TO CBI IS IN ART 103 OR 107 OF THE IRAQI CONSTITUTION
****** says to (12:10:25):
AND CBI HAS IT'S OWN ARTICLES AND AUTONOMY GRANTED BY THE CPA
murph says to (12:10:43):
So ******, there can be no outside influence other than IMF to influence the RV, correct, not GOI, not US noone?
****** says to (12:10:49):
THIS WAS SO NOONE IN THE GOI COULD STEAL MONEY AS DID UNDER SADAAMS REIGN
****** says to (12:10:55):
I LET YOU FINISH
****** says to (12:10:56):
LET ME
****** says to (12:11:05):
THAT IS RUDE
murph says to (12:11:18):
sorry
*** (12:11:24):murph is muted by Admin for breaking rules!
****** says to (12:11:33):
SADAAM PULLED OFF THE LARGEST BANK HEIST THROUGH HIS SON
*** (12:11:34):murph has been unmuted by Admin.
****** says to (12:11:40):
ON JUST A HAND WRITTEN NOTE
****** says to (12:12:05):
THEY STOLE 920 MILLION FROM THE CENTRAL BANK THE DAY BEFORE THE U.S. INVADED THE 2ND TIME
****** says to (12:12:30):
AND THE IMF CANNOT NOT FORCE AN RV ON ANYONE.
****** says to (12:12:32):
UNLESS
****** says to (12:12:55):
AN AGREEMENT IS MADE AND SIGNED BY THE CENTRAL BANK AND THE MOF
****** says to (12:13:34):
WHICH AN AGREEMENT HAS BEEN FORGED AND SIGNED BETWEEN THE IMF/WB AND MOF AND SHABIBI
****** says to (12:13:52):
THE MOF AND SHABIBI BOTH HAD TO AGREE TO THE IMF/WB LOANS
****** says to (12:14:18):
AND THE MONETARY AND ECONOMIC POLICIES THAT THEY WANTED IN PLACE.
****** says to (12:14:31):
AS I HAVE SAID OVER AND OVER AND OVER FOR MONTHS
****** says to (12:14:50):
THE IMF BEFORE DISBURSEMENT OF ANY FUNDS
****** says to (12:15:13):
THE RECEIVING COUNTRY HAS TO HAVE THE STIPULATIONS IN PLACE FOR 30 DAYS
****** says to (12:15:26):
UNLESS THE IMF AGREES TO EXTEND IT
****** says to (12:15:46):
NOW ALSO IN ORDER TO PAY BACK IMF LOAN FUND TRANSACTIONS AGAIN
****** says to (12:16:03):
THE BORROWING COUNTRY MUST PAY IT BACK WITH A TRADEABLE CURRENCY
****** says to (12:16:12):
NOW THEY DO NOT
****** says to (12:16:28):
AND THE OIL REVENUES ALL THOUGHT WERE COMING THIS YEAR ARE NOT COMING EITHER
****** says to (12:16:43):
THAT TALK WAS SQUASHED YESTERDAY
****** says to (12:17:13):
AND IT WAS POSTED THAT THEY WILL NOT BE READY TO REAP THE BENEFITS OF INCREASED OIL PRODUCTION FOR ABOUT 3 MORE YEARS
****** says to (12:17:41):
ALSO THE OIL REVENUES NOW ARE ONLY HALF OF THE BUDGET PROPOSED FOR 2010
****** says to (12:17:56):
AT BEST THE REVENUES WERE 40 BILLION USD
****** says to (12:18:12):
AND THE LOW EST FOR 2009 WAS 36.8 BILLION USD
****** says to (12:18:36):
NOW THE BUDGET IS OVER 80 BILLION USD OR CONVERTED OVER 80 TRILLION IQD
****** says to (12:20:35):
NOW ADD THE 5.98 BILLION USD OR CONVERTED 7 TRILLION IQD THAT THEY GOT FROM THE IMF/WB LOANS
****** says to (12:20:47):
TO 40 BILLION USD OIL REVENUES
****** says to (12:21:03):
AND YOU HAVE ABOUT A 45% BUDGET DEFICIT
****** says to (12:21:20):
NOW THE ONLY WAY TO COVER ALL THOSE PROJECTS
****** says to (12:21:32):
IS TO HAVE FIAT MONEY
****** says to (12:21:47):
WELL NOT ACTUALLY FIAT
****** says to (12:22:17):
BUT A TRADEABLE RECOGNIZED CURRENCY THAT THEY CAN USE AND HAVE THE IMF AND WB COVER ON A FLOAT
****** says to (12:22:51):
I LISTED ISSUES THAT COULD BE PROBLEMATIC FOR IRAQ AND THE RV
****** says to (12:22:59):
THIS MORNING IN CHAT
****** says to (12:23:05):
1) STABILITY
****** says to (12:23:19):
2) POSTPONEMENT OF THE ELECTIONS
****** says to (12:23:26):
3) NO BUDGET
****** says to (12:23:51):
4) CORRUPTION
****** says to (12:24:31):
NOW IRAQ IS NOT JOINING THE WTO THIS YEAR EITHER
****** says to (12:24:49):
THEY WILL STAY A OBSERVING MEMBER FOR 2010
****** says to (12:24:52):
WHY?
****** says to (12:25:10):
BECAUSE THEY HAVE NO PRODUCTS THAT THE INTERNATIONAL COMMUNITY WANTS
****** says to (12:25:41):
THEY PRODUCE NOTHING TO EXPORT THAT MEETS THE WTO STANDARDS FOR EXPORTS
****** says to (12:26:24):
THIS WAS WHY THE DEVELOPMENT OF THE PRIVATE SECTOR WAS SO MUCH PUSHED BY THE IMF AND WORLD BANK WHILE THEY WERE UNDER THE SBA
****** says to (12:26:33):
BUT IRAQ REFUSED TO ADDRESS IT
****** says to (12:27:33):
THEY LOOKED AT THE OIL REVENUES AND THE MISINFORMATION GIVEN BY THE MIN. OF OIL AND THE ROSIE PICTURE PAINTED BY MALIKI
****** says to (12:28:08):
NOW IF YOU WANT TO KNOW WHY NO RV
****** says to (12:28:30):
IT WAS POINTED OUT BY SALEGH THE ADVISOR TO SHABIBI AND CENTRAL BANK ON SUNDAY
****** says to (12:28:44):
I CAN'T BELIEVE THAT MEMORIES ARE THAT SHORT
****** says to (12:29:16):
HE EXPLAINED THAT POLITICAL AND CRISIS IN IRAQ HAMPERED THE MOVEMENT OF THE IQD
****** says to (12:29:25):
WE ALL KNOW WHAT THOSE WERE
****** says to (12:30:08):
CHINA, ELECTION LAW, BOMBINGS, CORRUPTION, POSTPONEMENT OF THE ELECTIONS TILL MARCH
****** says to (12:30:21):
THAT IS WHY NO RV YET
****** says to (12:30:36):
NOT BECAUSE ANYONE HAS AN INFLUENCE TO HOLD IT UP
****** says to (12:31:29):
NOW DOES THIS MAKE SENSE TO ALL
SamAdam222 says to (12:31:42):
Yes.
alphonse43 says to (12:31:47):
yes
dj51 says to (12:31:47):
yes
stoeser30 says to (12:31:48):
yes
****** says to (12:31:48):
DID I EXPLAIN IT SO ALL CAN GET AN UNDERSTANDING OF THE SITUATION
stoeser30 says to (12:31:56):
yes
Please RV Today says to (12:32:01):
very much so. TY med!
jfraser says to (12:32:04):
very clear
curiousB says to (12:32:07):
Yes
alphonse43 says to (12:32:16):
crystal clear
kenstrip says to (12:32:17):
yes thank you
vfwwildbill says to (12:32:18):
yes
cuttingedge says to (12:32:27):
Yes
lonestarlady says to (12:32:29):
yes
gator4ever says to (12:32:29):
yes ****** do you think Mailiki and Shabs want the rv? It would seem obvious that it would benefit them big time??
PHmichael says to (12:32:31):
as usual a fantastic presentation , med
Please RV Today says to (12:32:35):
bottom line is still it can happen any thim, right med?
****** says to (12:32:40):
YES GATOR I DO
Please RV Today says to (12:32:42):
time*
****** says to (12:32:51):
YES PRV
Please RV Today says to (12:32:58):
gator4ever says to (12:33:01):
so if nothing else comes up?? we should be very close??
****** says to (12:33:04):
ANYTIME AND NOONE BUT SHABS WILL KNOW
cleaninglady says to (12:33:24):
yes
blue442 says to (12:33:28):
What is the latest date you think we could possibly see the RV?
gator4ever says to (12:33:28):
does Shabs want Mailiki in office?
****** says to (12:33:43):
GATOR BEFORE I USED TO THINK I COULD HOLD ONTO INTEL FOR DAYS AND BE TRUE
SamAdam222 says to (12:33:50):
Go Shabs. Push that button.
Please RV Today says to (12:33:53):
my wife calls me perv, not prv!
****** says to (12:33:55):
NOW I AM WORRIED IT IS OVER IN HRS
curiousB says to (12:34:00):
****** do you think if there are two rates a lower for the 25K notes it will be less than $100
curiousB says to (12:34:39):
$1.00
****** says to (12:34:39):
HE IF IT IS $100 PER 1 IQD
I WILL TAKE IT
LOL
laredo7mm says to (12:34:50):
lol
Please RV Today says to (12:34:53):
lol
alphonse43 says to (12:34:55):
curious, you mean $1.00?
PHmichael says to (12:34:56):
metoo
gator4ever says to (12:34:57):
no kidding
curiousB says to (12:34:59):
Me Too
****** says to (12:35:06):
DO I THINK IT WILL LESS THAN $1
NO I DO NOT
I think a lot of it is 'smoke and mirrors' to purposely throw the public off, what do you guys think?
dinarham says to (12:06:59):
Maybe one of their last ducks is the 1 year 1170 benchmark
Polarbear says to (12:07:06):
the US is going to pull out at some time so they
****** says to (12:07:11):
WE ALREADY KNOW THAT THE U.S. LEVERAGED HELP WITH THE SECURITY FILES FOR THE ECONOMIC FILES.
brownbaby says to (12:07:18):
Damluji: Najaf bombings caused by poor coordination between the security services http://www.dinarspeculator.com/showthread.php?p=21203#post21203
Polarbear says to (12:07:18):
will have to fend for them selves
****** says to (12:07:49):
AND YOU ARE TALKING ABOUT AN ENTITIY THAT CAN'T BE INFLUENCED
****** says to (12:08:11):
YOU FORGET YOU ARE SAYING INFLUENCING WHO? THE GOI RIGHT?
****** says to (12:08:34):
WHAT DOES THE GOI HAVE TO DO WITH THE CENRAL BANK
****** says to (12:08:38):
NOTHING
****** says to (12:08:42):
EXCEPT TO AUDIT
****** says to (12:08:47):
AND OVERSIGHT
****** says to (12:09:11):
THEY DO NOT HAVE ANY AUTHORITY TO FORCE MONETARY POLICIES ON SHABIBI
****** says to (12:09:33):
THAT WAS TAKEN CARE OF WHEN THE CONSTITUTION WAS WRITTEN
****** says to (12:09:56):
I BELIEVE THE REFERENCE TO CBI IS IN ART 103 OR 107 OF THE IRAQI CONSTITUTION
****** says to (12:10:25):
AND CBI HAS IT'S OWN ARTICLES AND AUTONOMY GRANTED BY THE CPA
murph says to (12:10:43):
So ******, there can be no outside influence other than IMF to influence the RV, correct, not GOI, not US noone?
****** says to (12:10:49):
THIS WAS SO NOONE IN THE GOI COULD STEAL MONEY AS DID UNDER SADAAMS REIGN
****** says to (12:10:55):
I LET YOU FINISH
****** says to (12:10:56):
LET ME
****** says to (12:11:05):
THAT IS RUDE
murph says to (12:11:18):
sorry
*** (12:11:24):murph is muted by Admin for breaking rules!
****** says to (12:11:33):
SADAAM PULLED OFF THE LARGEST BANK HEIST THROUGH HIS SON
*** (12:11:34):murph has been unmuted by Admin.
****** says to (12:11:40):
ON JUST A HAND WRITTEN NOTE
****** says to (12:12:05):
THEY STOLE 920 MILLION FROM THE CENTRAL BANK THE DAY BEFORE THE U.S. INVADED THE 2ND TIME
****** says to (12:12:30):
AND THE IMF CANNOT NOT FORCE AN RV ON ANYONE.
****** says to (12:12:32):
UNLESS
****** says to (12:12:55):
AN AGREEMENT IS MADE AND SIGNED BY THE CENTRAL BANK AND THE MOF
****** says to (12:13:34):
WHICH AN AGREEMENT HAS BEEN FORGED AND SIGNED BETWEEN THE IMF/WB AND MOF AND SHABIBI
****** says to (12:13:52):
THE MOF AND SHABIBI BOTH HAD TO AGREE TO THE IMF/WB LOANS
****** says to (12:14:18):
AND THE MONETARY AND ECONOMIC POLICIES THAT THEY WANTED IN PLACE.
****** says to (12:14:31):
AS I HAVE SAID OVER AND OVER AND OVER FOR MONTHS
****** says to (12:14:50):
THE IMF BEFORE DISBURSEMENT OF ANY FUNDS
****** says to (12:15:13):
THE RECEIVING COUNTRY HAS TO HAVE THE STIPULATIONS IN PLACE FOR 30 DAYS
****** says to (12:15:26):
UNLESS THE IMF AGREES TO EXTEND IT
****** says to (12:15:46):
NOW ALSO IN ORDER TO PAY BACK IMF LOAN FUND TRANSACTIONS AGAIN
****** says to (12:16:03):
THE BORROWING COUNTRY MUST PAY IT BACK WITH A TRADEABLE CURRENCY
****** says to (12:16:12):
NOW THEY DO NOT
****** says to (12:16:28):
AND THE OIL REVENUES ALL THOUGHT WERE COMING THIS YEAR ARE NOT COMING EITHER
****** says to (12:16:43):
THAT TALK WAS SQUASHED YESTERDAY
****** says to (12:17:13):
AND IT WAS POSTED THAT THEY WILL NOT BE READY TO REAP THE BENEFITS OF INCREASED OIL PRODUCTION FOR ABOUT 3 MORE YEARS
****** says to (12:17:41):
ALSO THE OIL REVENUES NOW ARE ONLY HALF OF THE BUDGET PROPOSED FOR 2010
****** says to (12:17:56):
AT BEST THE REVENUES WERE 40 BILLION USD
****** says to (12:18:12):
AND THE LOW EST FOR 2009 WAS 36.8 BILLION USD
****** says to (12:18:36):
NOW THE BUDGET IS OVER 80 BILLION USD OR CONVERTED OVER 80 TRILLION IQD
****** says to (12:20:35):
NOW ADD THE 5.98 BILLION USD OR CONVERTED 7 TRILLION IQD THAT THEY GOT FROM THE IMF/WB LOANS
****** says to (12:20:47):
TO 40 BILLION USD OIL REVENUES
****** says to (12:21:03):
AND YOU HAVE ABOUT A 45% BUDGET DEFICIT
****** says to (12:21:20):
NOW THE ONLY WAY TO COVER ALL THOSE PROJECTS
****** says to (12:21:32):
IS TO HAVE FIAT MONEY
****** says to (12:21:47):
WELL NOT ACTUALLY FIAT
****** says to (12:22:17):
BUT A TRADEABLE RECOGNIZED CURRENCY THAT THEY CAN USE AND HAVE THE IMF AND WB COVER ON A FLOAT
****** says to (12:22:51):
I LISTED ISSUES THAT COULD BE PROBLEMATIC FOR IRAQ AND THE RV
****** says to (12:22:59):
THIS MORNING IN CHAT
****** says to (12:23:05):
1) STABILITY
****** says to (12:23:19):
2) POSTPONEMENT OF THE ELECTIONS
****** says to (12:23:26):
3) NO BUDGET
****** says to (12:23:51):
4) CORRUPTION
****** says to (12:24:31):
NOW IRAQ IS NOT JOINING THE WTO THIS YEAR EITHER
****** says to (12:24:49):
THEY WILL STAY A OBSERVING MEMBER FOR 2010
****** says to (12:24:52):
WHY?
****** says to (12:25:10):
BECAUSE THEY HAVE NO PRODUCTS THAT THE INTERNATIONAL COMMUNITY WANTS
****** says to (12:25:41):
THEY PRODUCE NOTHING TO EXPORT THAT MEETS THE WTO STANDARDS FOR EXPORTS
****** says to (12:26:24):
THIS WAS WHY THE DEVELOPMENT OF THE PRIVATE SECTOR WAS SO MUCH PUSHED BY THE IMF AND WORLD BANK WHILE THEY WERE UNDER THE SBA
****** says to (12:26:33):
BUT IRAQ REFUSED TO ADDRESS IT
****** says to (12:27:33):
THEY LOOKED AT THE OIL REVENUES AND THE MISINFORMATION GIVEN BY THE MIN. OF OIL AND THE ROSIE PICTURE PAINTED BY MALIKI
****** says to (12:28:08):
NOW IF YOU WANT TO KNOW WHY NO RV
****** says to (12:28:30):
IT WAS POINTED OUT BY SALEGH THE ADVISOR TO SHABIBI AND CENTRAL BANK ON SUNDAY
****** says to (12:28:44):
I CAN'T BELIEVE THAT MEMORIES ARE THAT SHORT
****** says to (12:29:16):
HE EXPLAINED THAT POLITICAL AND CRISIS IN IRAQ HAMPERED THE MOVEMENT OF THE IQD
****** says to (12:29:25):
WE ALL KNOW WHAT THOSE WERE
****** says to (12:30:08):
CHINA, ELECTION LAW, BOMBINGS, CORRUPTION, POSTPONEMENT OF THE ELECTIONS TILL MARCH
****** says to (12:30:21):
THAT IS WHY NO RV YET
****** says to (12:30:36):
NOT BECAUSE ANYONE HAS AN INFLUENCE TO HOLD IT UP
****** says to (12:31:29):
NOW DOES THIS MAKE SENSE TO ALL
SamAdam222 says to (12:31:42):
Yes.
alphonse43 says to (12:31:47):
yes
dj51 says to (12:31:47):
yes
stoeser30 says to (12:31:48):
yes
****** says to (12:31:48):
DID I EXPLAIN IT SO ALL CAN GET AN UNDERSTANDING OF THE SITUATION
stoeser30 says to (12:31:56):
yes
Please RV Today says to (12:32:01):
very much so. TY med!
jfraser says to (12:32:04):
very clear
curiousB says to (12:32:07):
Yes
alphonse43 says to (12:32:16):
crystal clear
kenstrip says to (12:32:17):
yes thank you
vfwwildbill says to (12:32:18):
yes
cuttingedge says to (12:32:27):
Yes
lonestarlady says to (12:32:29):
yes
gator4ever says to (12:32:29):
yes ****** do you think Mailiki and Shabs want the rv? It would seem obvious that it would benefit them big time??
PHmichael says to (12:32:31):
as usual a fantastic presentation , med
Please RV Today says to (12:32:35):
bottom line is still it can happen any thim, right med?
****** says to (12:32:40):
YES GATOR I DO
Please RV Today says to (12:32:42):
time*
****** says to (12:32:51):
YES PRV
Please RV Today says to (12:32:58):
gator4ever says to (12:33:01):
so if nothing else comes up?? we should be very close??
****** says to (12:33:04):
ANYTIME AND NOONE BUT SHABS WILL KNOW
cleaninglady says to (12:33:24):
yes
blue442 says to (12:33:28):
What is the latest date you think we could possibly see the RV?
gator4ever says to (12:33:28):
does Shabs want Mailiki in office?
****** says to (12:33:43):
GATOR BEFORE I USED TO THINK I COULD HOLD ONTO INTEL FOR DAYS AND BE TRUE
SamAdam222 says to (12:33:50):
Go Shabs. Push that button.
Please RV Today says to (12:33:53):
my wife calls me perv, not prv!
****** says to (12:33:55):
NOW I AM WORRIED IT IS OVER IN HRS
curiousB says to (12:34:00):
****** do you think if there are two rates a lower for the 25K notes it will be less than $100
curiousB says to (12:34:39):
$1.00
****** says to (12:34:39):
HE IF IT IS $100 PER 1 IQD
I WILL TAKE IT
LOL
laredo7mm says to (12:34:50):
lol
Please RV Today says to (12:34:53):
lol
alphonse43 says to (12:34:55):
curious, you mean $1.00?
PHmichael says to (12:34:56):
metoo
gator4ever says to (12:34:57):
no kidding
curiousB says to (12:34:59):
Me Too
****** says to (12:35:06):
DO I THINK IT WILL LESS THAN $1
NO I DO NOT
SFMEDIC CHAT - Dinar Vets 1/15/10 @ Approx. 12am EST
murph says to (12:06:16):
Yes but our current security is essential to keeping peace now, so could the US leverage that for something else?
Polarbear says to (12:06:32):
exactly jf
kadrock50 says to (12:06:55):
I think a lot of it is 'smoke and mirrors' to purposely throw the public off, what do you guys think?
dinarham says to (12:06:59):
Maybe one of their last ducks is the 1 year 1170 benchmark
Polarbear says to (12:07:06):
the US is going to pull out at some time so they
SFMedic says to (12:07:11):
WE ALREADY KNOW THAT THE U.S. LEVERAGED HELP WITH THE SECURITY FILES FOR THE ECONOMIC FILES.
brownbaby says to (12:07:18):
Damluji: Najaf bombings caused by poor coordination between the security services http://www.dinarspeculator.com/showthread.php?p=21203#post21203
Polarbear says to (12:07:18):
will have to fend for them selves
SFMedic says to (12:07:49):
AND YOU ARE TALKING ABOUT AN ENTITIY THAT CAN'T BE INFLUENCED
YOU FORGET YOU ARE SAYING INFLUENCING WHO? THE GOI RIGHT?
WHAT DOES THE GOI HAVE TO DO WITH THE CENRAL BANK
NOTHING
EXCEPT TO AUDIT
AND OVERSIGHT
THEY DO NOT HAVE ANY AUTHORITY TO FORCE MONETARY POLICIES ON SHABIBI
THAT WAS TAKEN CARE OF WHEN THE CONSTITUTION WAS WRITTEN
I BELIEVE THE REFERENCE TO CBI IS IN ART 103 OR 107 OF THE IRAQI CONSTITUTION
AND CBI HAS IT'S OWN ARTICLES AND AUTONOMY GRANTED BY THE CPA
THIS WAS SO NOONE IN THE GOI COULD STEAL MONEY AS DID UNDER SADAAMS REIGN
SADAAM PULLED OFF THE LARGEST BANK HEIST THROUGH HIS SON
ON JUST A HAND WRITTEN NOTE
THEY STOLE 920 MILLION FROM THE CENTRAL BANK THE DAY BEFORE THE U.S. INVADED THE 2ND TIME
UNLESS
AN AGREEMENT IS MADE AND SIGNED BY THE CENTRAL BANK AND THE MOF
WHICH AN AGREEMENT HAS BEEN FORGED AND SIGNED BETWEEN THE IMF/WB AND MOF AND SHABIBI
THE MOF AND SHABIBI BOTH HAD TO AGREE TO THE IMF/WB LOANS
AND THE MONETARY AND ECONOMIC POLICIES THAT THEY WANTED IN PLACE.
AS I HAVE SAID OVER AND OVER AND OVER FOR MONTHS
THE IMF BEFORE DISBURSEMENT OF ANY FUNDS
THE RECEIVING COUNTRY HAS TO HAVE THE STIPULATIONS IN PLACE FOR 30 DAYS
UNLESS THE IMF AGREES TO EXTEND IT
NOW ALSO IN ORDER TO PAY BACK IMF LOAN FUND TRANSACTIONS AGAIN
THE BORROWING COUNTRY MUST PAY IT BACK WITH A TRADEABLE CURRENCY
NOW THEY DO NOT
AND THE OIL REVENUES ALL THOUGHT WERE COMING THIS YEAR ARE NOT COMING EITHER
THAT TALK WAS SQUASHED YESTERDAY
AND IT WAS POSTED THAT THEY WILL NOT BE READY TO REAP THE BENEFITS OF INCREASED OIL PRODUCTION FOR ABOUT 3 MORE YEARS
ALSO THE OIL REVENUES NOW ARE ONLY HALF OF THE BUDGET PROPOSED FOR 2010
AT BEST THE REVENUES WERE 40 BILLION USD
AND THE LOW EST FOR 2009 WAS 36.8 BILLION USD
NOW THE BUDGET IS OVER 80 BILLION USD OR CONVERTED OVER 80 TRILLION IQD
NOW ADD THE 5.98 BILLION USD OR CONVERTED 7 TRILLION IQD THAT THEY GOT FROM THE IMF/WB LOANS
TO 40 BILLION USD OIL REVENUES
AND YOU HAVE ABOUT A 45% BUDGET DEFICIT
Yes but our current security is essential to keeping peace now, so could the US leverage that for something else?
Polarbear says to (12:06:32):
exactly jf
kadrock50 says to (12:06:55):
I think a lot of it is 'smoke and mirrors' to purposely throw the public off, what do you guys think?
dinarham says to (12:06:59):
Maybe one of their last ducks is the 1 year 1170 benchmark
Polarbear says to (12:07:06):
the US is going to pull out at some time so they
SFMedic says to (12:07:11):
WE ALREADY KNOW THAT THE U.S. LEVERAGED HELP WITH THE SECURITY FILES FOR THE ECONOMIC FILES.
brownbaby says to (12:07:18):
Damluji: Najaf bombings caused by poor coordination between the security services http://www.dinarspeculator.com/showthread.php?p=21203#post21203
Polarbear says to (12:07:18):
will have to fend for them selves
SFMedic says to (12:07:49):
AND YOU ARE TALKING ABOUT AN ENTITIY THAT CAN'T BE INFLUENCED
YOU FORGET YOU ARE SAYING INFLUENCING WHO? THE GOI RIGHT?
WHAT DOES THE GOI HAVE TO DO WITH THE CENRAL BANK
NOTHING
EXCEPT TO AUDIT
AND OVERSIGHT
THEY DO NOT HAVE ANY AUTHORITY TO FORCE MONETARY POLICIES ON SHABIBI
THAT WAS TAKEN CARE OF WHEN THE CONSTITUTION WAS WRITTEN
I BELIEVE THE REFERENCE TO CBI IS IN ART 103 OR 107 OF THE IRAQI CONSTITUTION
AND CBI HAS IT'S OWN ARTICLES AND AUTONOMY GRANTED BY THE CPA
THIS WAS SO NOONE IN THE GOI COULD STEAL MONEY AS DID UNDER SADAAMS REIGN
SADAAM PULLED OFF THE LARGEST BANK HEIST THROUGH HIS SON
ON JUST A HAND WRITTEN NOTE
THEY STOLE 920 MILLION FROM THE CENTRAL BANK THE DAY BEFORE THE U.S. INVADED THE 2ND TIME
UNLESS
AN AGREEMENT IS MADE AND SIGNED BY THE CENTRAL BANK AND THE MOF
WHICH AN AGREEMENT HAS BEEN FORGED AND SIGNED BETWEEN THE IMF/WB AND MOF AND SHABIBI
THE MOF AND SHABIBI BOTH HAD TO AGREE TO THE IMF/WB LOANS
AND THE MONETARY AND ECONOMIC POLICIES THAT THEY WANTED IN PLACE.
AS I HAVE SAID OVER AND OVER AND OVER FOR MONTHS
THE IMF BEFORE DISBURSEMENT OF ANY FUNDS
THE RECEIVING COUNTRY HAS TO HAVE THE STIPULATIONS IN PLACE FOR 30 DAYS
UNLESS THE IMF AGREES TO EXTEND IT
NOW ALSO IN ORDER TO PAY BACK IMF LOAN FUND TRANSACTIONS AGAIN
THE BORROWING COUNTRY MUST PAY IT BACK WITH A TRADEABLE CURRENCY
NOW THEY DO NOT
AND THE OIL REVENUES ALL THOUGHT WERE COMING THIS YEAR ARE NOT COMING EITHER
THAT TALK WAS SQUASHED YESTERDAY
AND IT WAS POSTED THAT THEY WILL NOT BE READY TO REAP THE BENEFITS OF INCREASED OIL PRODUCTION FOR ABOUT 3 MORE YEARS
ALSO THE OIL REVENUES NOW ARE ONLY HALF OF THE BUDGET PROPOSED FOR 2010
AT BEST THE REVENUES WERE 40 BILLION USD
AND THE LOW EST FOR 2009 WAS 36.8 BILLION USD
NOW THE BUDGET IS OVER 80 BILLION USD OR CONVERTED OVER 80 TRILLION IQD
NOW ADD THE 5.98 BILLION USD OR CONVERTED 7 TRILLION IQD THAT THEY GOT FROM THE IMF/WB LOANS
TO 40 BILLION USD OIL REVENUES
AND YOU HAVE ABOUT A 45% BUDGET DEFICIT
SFMEDIC CHAT - Dinar Vets 1/15/10 @ 4:58am EST
****** says to (04:58:56):NOW ON THE INFO IF IRAQ DOES AN ERM THEY MUST MAKE IT TRADEABLE TO THE WORLD. THERE IS NO WAY OUT. AN ERM IS ONLY FOR USE WITH A INTERNATIONALLY RECOGNIZED CURRENCY
****** says to (05:00:32):
SO BEING THAT THIS WAS THROWN OUT INTO THE MEDIA AS THEIR INTENTIONS
****** says to (05:00:41):
NOW HERE IS ONE THING
****** says to (05:00:52):
AN ERM DOES NOT MEAN THEY HAVE TO RV
****** says to (05:01:02):
BUT
****** says to (05:01:25):
IT WOULD MEAN THAT IF THEY DID NOT LET IT INCREASE
****** says to (05:01:41):
THEY WOULD HAVE TO FLOOD THE COUNTRY AND WORLD WITH CURRENCY
****** says to (05:01:57):
AND GO INTO HIGH INFLATION
****** says to (05:02:33):
NOW THIS IS ALL CONTRARY TO THE IMF/WB'S STRATEGIES AND TOTALLY AGAINST EVERYTHING THAT SHABIBI HAS STOOD FOR
****** says to (05:02:45):
IN HIS POLICY FOR THE COUNTRY
****** says to (05:03:06):
IT WOULD ALSO COST IRAQ NOT THOUSANDS AS IS NOW
****** says to (05:03:10):
BUT MILLIONS
****** says to (05:03:17):
EVERY AUCTION
****** says to (05:03:25):
SO THEY GO FARTHER INTO DEBT
****** says to (05:03:43):
DOES THIS ALL MAKE SENSE AND DO YOU ALL UNDERSTAND
in4fun says to (05:03:54):
yes
****** says to (05:03:56):
THIS IS NOT MY OPINION OK
****** says to (05:04:04):
THESE ARE FACTS ABOUT AN ERM
Cool says to (05:04:18):
so more then likely if it erm then it will rv
fancy1nancy says to (05:04:20):
Yes, but where do they stand in regards to the ERM?
****** says to (05:04:30):
NO CLUE FANCY
****** says to (05:04:43):
DO THE JUST WAN TO STRAIGHT OUT RV
****** says to (05:04:47):
WANT
****** says to (05:05:07):
OR USE AN ERM THAT IS MANAGED AND USING A CRAWL PEG
kingdavidhi says to (05:05:13):
Are you saying you believe they will invoke erm and then rv in brief time period?
****** says to (05:05:29):
INCREASING IT IN VALUE EVERY SO MANY MONTHS
****** says to (05:05:50):
BUT THIS WILL ALSO CAUSE TREMENDOUS SPECULATION I BELIEVE
****** says to (05:06:15):
AND THEY WILL AGAIN BE IN THE POSITION THEY WERE IN JULY 2008
****** says to (05:06:32):
HAVING TO BUY BACK BILLIONS IN IQD BACK EVERY MONTH
****** says to (05:06:46):
WELL KING
****** says to (05:06:55):
JUST WHAT ARE THE INTENTIONS
****** says to (05:07:07):
OF THE GOI OR MOF AND CBI
Cool says to (05:07:21):
to rebuild Iraq
****** says to (05:07:26):
I DON'T THINK SHABIBI WANTS TO PUT THIS RISK ON THE IQD
Cool says to (05:07:44):
and be sucessful
****** says to (05:07:45):
WHEN HE IS READY
fancy1nancy says to (05:07:53):
wouldn't tremendous speculation = unmanageble on their part?
****** says to (05:07:56):
I BELIEVE HE WILL JUST RV
****** says to (05:08:00):
YES FANCY
Cool says to (05:08:08):
with no erm?
****** says to (05:08:14):
NOT UNMANAGEABLE
bearcat says to (05:08:16):
Med, do your advisors believe that there is any tactical advantage to RV before the planned commencement of the Jan. 23rd Gulf economic union of the GCC?
****** says to (05:08:18):
JUST PRICEY
****** says to (05:08:39):
NO THE GCC IS NOT EVEN AN ISSUE BEARCAT
****** says to (05:09:00):
IT IS MORE STABILITY
****** says to (05:09:05):
CORRUPTION
****** says to (05:09:12):
THE ELECTIONS
****** says to (05:09:19):
CHAPTER VII
bearcat says to (05:09:31):
okay
angel42b says to (05:09:54):
? if they do the ERM and just increase in small amount, they still have loans coming due ad wouldnt that take so much dinar that it would send them into high inflation
****** says to (05:09:57):
THOSE ARE MUCH MORE OF AN ISSUE THAN THEM JOINING THE GCC OR WTO
****** says to (05:10:25):
YES ANGEL IT WILL BECAUSE THERE IS ONLY ONE WAY TO KEEP THE RATE DOWN
****** says to (05:10:30):
FLOOD THE MARKET
in4fun says to (05:10:40):
does anyone know if theres been an acution yet tonight?
fancy1nancy says to (05:10:40):
Then I wonder why they even brought up the ERM?
angel42b says to (05:10:44):
ok thanks
****** says to (05:10:48):
AND THIS IS AGAINST EVERYTHING SHABS STANDS FOR
kingdavidhi says to (05:10:50):
Never is on Friday morning
****** says to (05:11:00):
OK HERE IS SOME MORE INFO FOR YOU ALL
****** says to (05:11:22):
LET US GET THESE AUCTIONS AND UNDERSTANDING THEM FULLY OK
****** says to (05:11:44):
SO YOU DON'T HAVE TO GET BUMMED WHEN YOU SEE A 295 MILLION USD AUCTION
91hotel says to (05:11:48):
they don't do auctions on fridays in4fun
****** says to (05:11:57):
FIRST
****** says to (05:12:20):
THE AUCTIONS ARE FOR THE PURCHASING AND SELLING OF FOREIGN CURRENCIES
in4fun says to (05:12:21):
thats right forgot what day ir is lol thanks king
****** says to (05:12:29):
ANY FOREIGN CURRENCY
kingdavidhi says to (05:12:35):
yw
****** says to (05:12:38):
THERE ARE TWO EXPENDITURES
****** says to (05:12:48):
TRANSERS OUT FROM CBI
****** says to (05:13:02):
USD TAKEN IN FOR THE SALE OF IQD
****** says to (05:13:25):
THE ONLY ONE YOU EVER NEED TO BE CONCERNED WITH IS THE SECOND
****** says to (05:13:32):
THE USD TAKEN IN
****** says to (05:13:44):
NOT THE TOTAL VALUE OF THE AUCTION
****** says to (05:14:16):
USD TAKEN IN IS AS I SAID FOR DINAR/IQD SOLD
****** says to (05:14:40):
ALSO CBI CANNOT SELL DINAR OUTSIDE OF THE COUNTRY TO ANY FOREIGN NATIONAL
****** says to (05:15:07):
IT CAN ONLY AUCTION OFF IQD TO BANKS INSIDE IRAQ REGISTERED WITH CBI
****** says to (05:15:29):
IT IS AGAINST THE CONSTITUTION FOR CBI TO SELL TO ANYONE ELSE
****** says to (05:15:44):
AS WAS IMPLIED THAT ALI GOT HIS IQD FROM CBI
****** says to (05:15:47):
HE DOES NOT
****** says to (05:15:58):
HE GET'S IT FROM THE TRADE BANK OF IRAQ
****** says to (05:16:03):
OR HE DID
****** says to (05:16:30):
NOW OUT OF 295 MIL PLUS AUCTION YESTERDAY
****** says to (05:16:48):
ONLY 8 MIL PLUS WAS USD FOR THE PURCHASE OF DINAR
****** says to (05:17:11):
SO THE OTHER 287 MIL WAS TRANSFERS OUT
****** says to (05:18:15):
NOW THEY ARE FOR THE PURCHASE OF OTHER COUNTRIES FOREIGN CURRENCIES FOR THE FOREIGN CURRENCY ASSETS THAT ARE REQUIRED TO COVER THE MONETARY POLICY AND LIQUIDITY OF THE IQD ABROAD
****** says to (05:18:44):
THE MORE THEY CAN BRING IN THE MORE ASSETS THEY HAVE TO COVER THE IQD ON A REVALUATION
****** says to (05:19:02):
ALSO YOU DO NOT WANT ONLY ONE CURRENCY
****** says to (05:19:19):
YOU WANT A MULTITUDE OF CURRENCIES FOR FCA'S
****** says to (05:19:31):
THIS WAY IF SOME ARE FALLING IN VALUE
****** says to (05:20:07):
NOT ALL WILL AND YOUR TOTAL VALUE WILL NOT SUFFER DRAMATICALLY
****** says to (05:20:19):
NOW THINK OF THIS OK
****** says to (05:20:37):
YOU ALL MAY REMEMBER OR KNOW ABOUT THE OTHER AUCTIONS THAT CBI HELD
****** says to (05:20:50):
FOR THE AUCTION OFF OF TBILLS AND CBI BILLS
****** says to (05:21:09):
ONE IS FOR 365 DAYS AND THE OTHER APPROX 180 DAYS
****** says to (05:21:27):
THESE ARE AS IN OUR COUNTRY BUYING DEBT
****** says to (05:21:38):
NOW IRAQ SOLD ALLOT OF DEBT
****** says to (05:22:05):
THEN SEVERAL MONTHS AGO THEY SUSPENED ALL TBILL AND CBI BILL AUCTIONS FOR 6 MONTHS
****** says to (05:22:42):
I BELIEVE THIS WAS TO BUY BACK THE DEBT AND TO ACCRUE FOREIGN CURRENCY ASSETS DURING THIS TIME
****** says to (05:23:14):
THIS IS ANOTHER PREPARATION BY SHABIBI FOR THE RV
****** says to (05:24:16):
AND HE IS USING A DIRTY FLOAT TO HOLD DOWN THE VALUE OF THE DINAR SO HE CAN BUY BACK THE DEBTS FOR LOW VALUE AND PAY THEM THE INTEREST THEY MADE FROM THOSE TBILLS AND CBI BILLS
****** says to (05:24:28):
IT IS A SMART MOVE
****** says to (05:24:57):
SEE THE MAJORITY OF THE IQD COUNTED AGAINST IRAQ
****** says to (05:25:06):
IS NOT HARD CURRENCY LIKE WE HOLD
****** says to (05:25:21):
ALSO EXPECT THE POSSIBILITY OF TWO RATES
****** says to (05:25:50):
THE 25K NOTE IS THE DOMINANT NOTE AUCTIONED OFF AND SOLD BY TRADERS
****** says to (05:25:57):
IN HARD CURRENCY
****** says to (05:26:18):
10K AND BELOW IS LESS DOMINANTLY HELD
****** says to (05:26:47):
I THINK THAT THERE IS A POSSIBILITY THAT THE 25K NOTES WILL BE BOUGHT BACK AT A LOWER RATE
****** says to (05:26:55):
AND THEN VAULTED BY CBI
****** says to (05:27:12):
AND THE 10K NOTES AND BELOW WILL HAVE ANOTHER RATE
****** says to (05:27:25):
ABOUT .90 -1.00 HIGHER
****** says to (05:27:41):
NOW THIS IS JUST CONJECTURE
****** says to (05:28:01):
BUT IT IS SWIRLING AROUND BEING DISCUSSED
****** says to (05:28:12):
AND HAS LEAKED OUT OF TBI
****** says to (05:28:47):
SO DO YOU ALL UNDERSTAND WHAT I JUST EXPLAINED OR WAS IT TOO MUCH TO DIGEST
broncos106 says to (05:29:02):
perfect
fancy1nancy says to (05:29:06):
******... it makes PERFECT sense...
****** says to (05:29:32):
I HAVE KNOWN THIS FOR ABOUT 3 WEEKS
fancy1nancy says to (05:29:33):
Guess what, Med... I finally "get it."
awwwsomegod says to (05:29:38):
that was good!
spraky says to (05:29:38):
very good
KaraokeDiva says to (05:29:45):
makes sense... ****** could i ask a ?
dinarham says to (05:29:48):
TY,med, somrtimes it takes a whike to digest
JERSEYGIRL says to (05:29:50):
yes med very good
Ur_Gold says to (05:29:53):
Med, good morning, how are you? Is Lydia feeling better?
bearcat says to (05:29:53):
Yes med. There may be one financial strategy to counter a split valuation of denominations though Med.
dinarfrank says to (05:30:03):
Double rate Sucks!! :@
MyHorseRocks says to (05:30:13):
great job...thanks much
****** says to (05:30:23):
SEE I THOUGHT YEARS AGO ABOUT THE 25K NOTES
****** says to (05:30:27):
IT WORRIED ME
****** says to (05:30:43):
SO I WENT OUT OF MY WAY TO GET 1K 5K AND 10K NOTES
****** says to (05:30:55):
I FIGURED IF I AM GOING TO INVEST
****** says to (05:31:07):
INVEST A BIT MORE AND GET LOWER DENOMS
fancy1nancy says to (05:31:26):
Med, aren't there $100K notes?
KaraokeDiva says to (05:31:32):
if they decide on the 2 rates... couldn't people trade their 25k notes for 10k or 1k notes? dinar for dinar should be possible, right? then cash in after exchanging for the smaller notes would be possible..
****** says to (05:31:37):
SOME OF MY BUDS HAVE MILLIONS IN 50 DINAR NOTES
****** says to (05:31:47):
NOPE KARAOKE
****** says to (05:31:50):
WON'T HAPPEN
****** says to (05:32:21):
I CAN GUARANTEE YOU THAT YOU WILL NOT HAVE THAT OPTION
fancy1nancy says to (05:32:48):
So... 25K and up might be a different rate... or... ?
KaraokeDiva says to (05:32:48):
ok.. just curious
KaraokeDiva says to (05:32:51):
thank you
****** says to (05:32:52):
REMEMBER THIS
****** says to (05:33:08):
YOU WILL NOT GET 2 10K AND A 5K NOTE
****** says to (05:33:31):
YOU WOULD GET THE VALUE OF 1.49 (EX) X 25K
bearcat says to (05:33:52):
Med, have you investigated the prospect of an international currency account at one of our major US banks?
****** says to (05:34:05):
NOPE BEARCAT
****** says to (05:34:10):
THIS IS IT OK
****** says to (05:34:15):
I WANT OUT SO BAD
****** says to (05:34:23):
THAT WHATEVER THEY PAY ME
****** says to (05:34:27):
I AM ECSTATIC
irwelder says to (05:34:32):
******, how can they have two rates for iqd, a dollar is a dollar whether it is a ten or a hundred, won't this be the same?
pinballwizard says to (05:34:40):
Im with ya what every there payin im running with it.
****** says to (05:34:44):
I WILL BE RICH BEYOND MY WILDEST DREAMS
bearcat says to (05:34:54):
I understand how you feel.
****** says to (05:34:56):
NO IT WILL NOT BE IRWELDER
Nash says to (05:34:57):
if you do hear some something like that, i hope you would share it with us
****** says to (05:35:05):
IT IS VERY VERY SIMPLE TO DO
****** says to (05:35:09):
AND IS NOT COMPLICATED
****** says to (05:35:21):
AND IRAQ HAS A RIGHT TO DO WHAT THEY WANT
Breitling says to (05:35:37):
and they have done it many times in the past also
****** says to (05:35:57):
NASH I HAVE SHARED SO MUCH ALREADY HAVEN'T I BREITLING IN THE PAST
irwelder says to (05:35:59):
I am with you on that, I just wish they would do something!!!!!!!!!
****** says to (05:36:26):
THAT B KNOWS I HAVE BEEN WARNED BY FED AGENCIES NOT TO USE MY SKILLS TO PASS ON EVERYTHING
Breitling says to (05:36:38):
Venezuela is doing it right now
Nash says to (05:36:42):
well duh, of course, that wasn't what i was asking
Breitling says to (05:37:00):
yes med that is correct
****** says to (05:37:07):
NO NEED TO BE THAT WAY NASH
****** says to (05:37:11):
OK
****** says to (05:37:38):
B TAKE IT FOR AWHILE MY FRIEND
fancy1nancy says to (05:37:41):
Nash... shame on you!
****** says to (05:37:43):
I WANT TO CLEAN UP
dinarfrank says to (05:37:43):
Med are you saying the 25K at $149 and smaller denoms at higher rate?
Foxyrodeo says to (05:37:52):
med can u im me please
****** says to (05:37:53):
I SAID EXAPMPLE
****** says to (05:00:32):
SO BEING THAT THIS WAS THROWN OUT INTO THE MEDIA AS THEIR INTENTIONS
****** says to (05:00:41):
NOW HERE IS ONE THING
****** says to (05:00:52):
AN ERM DOES NOT MEAN THEY HAVE TO RV
****** says to (05:01:02):
BUT
****** says to (05:01:25):
IT WOULD MEAN THAT IF THEY DID NOT LET IT INCREASE
****** says to (05:01:41):
THEY WOULD HAVE TO FLOOD THE COUNTRY AND WORLD WITH CURRENCY
****** says to (05:01:57):
AND GO INTO HIGH INFLATION
****** says to (05:02:33):
NOW THIS IS ALL CONTRARY TO THE IMF/WB'S STRATEGIES AND TOTALLY AGAINST EVERYTHING THAT SHABIBI HAS STOOD FOR
****** says to (05:02:45):
IN HIS POLICY FOR THE COUNTRY
****** says to (05:03:06):
IT WOULD ALSO COST IRAQ NOT THOUSANDS AS IS NOW
****** says to (05:03:10):
BUT MILLIONS
****** says to (05:03:17):
EVERY AUCTION
****** says to (05:03:25):
SO THEY GO FARTHER INTO DEBT
****** says to (05:03:43):
DOES THIS ALL MAKE SENSE AND DO YOU ALL UNDERSTAND
in4fun says to (05:03:54):
yes
****** says to (05:03:56):
THIS IS NOT MY OPINION OK
****** says to (05:04:04):
THESE ARE FACTS ABOUT AN ERM
Cool says to (05:04:18):
so more then likely if it erm then it will rv
fancy1nancy says to (05:04:20):
Yes, but where do they stand in regards to the ERM?
****** says to (05:04:30):
NO CLUE FANCY
****** says to (05:04:43):
DO THE JUST WAN TO STRAIGHT OUT RV
****** says to (05:04:47):
WANT
****** says to (05:05:07):
OR USE AN ERM THAT IS MANAGED AND USING A CRAWL PEG
kingdavidhi says to (05:05:13):
Are you saying you believe they will invoke erm and then rv in brief time period?
****** says to (05:05:29):
INCREASING IT IN VALUE EVERY SO MANY MONTHS
****** says to (05:05:50):
BUT THIS WILL ALSO CAUSE TREMENDOUS SPECULATION I BELIEVE
****** says to (05:06:15):
AND THEY WILL AGAIN BE IN THE POSITION THEY WERE IN JULY 2008
****** says to (05:06:32):
HAVING TO BUY BACK BILLIONS IN IQD BACK EVERY MONTH
****** says to (05:06:46):
WELL KING
****** says to (05:06:55):
JUST WHAT ARE THE INTENTIONS
****** says to (05:07:07):
OF THE GOI OR MOF AND CBI
Cool says to (05:07:21):
to rebuild Iraq
****** says to (05:07:26):
I DON'T THINK SHABIBI WANTS TO PUT THIS RISK ON THE IQD
Cool says to (05:07:44):
and be sucessful
****** says to (05:07:45):
WHEN HE IS READY
fancy1nancy says to (05:07:53):
wouldn't tremendous speculation = unmanageble on their part?
****** says to (05:07:56):
I BELIEVE HE WILL JUST RV
****** says to (05:08:00):
YES FANCY
Cool says to (05:08:08):
with no erm?
****** says to (05:08:14):
NOT UNMANAGEABLE
bearcat says to (05:08:16):
Med, do your advisors believe that there is any tactical advantage to RV before the planned commencement of the Jan. 23rd Gulf economic union of the GCC?
****** says to (05:08:18):
JUST PRICEY
****** says to (05:08:39):
NO THE GCC IS NOT EVEN AN ISSUE BEARCAT
****** says to (05:09:00):
IT IS MORE STABILITY
****** says to (05:09:05):
CORRUPTION
****** says to (05:09:12):
THE ELECTIONS
****** says to (05:09:19):
CHAPTER VII
bearcat says to (05:09:31):
okay
angel42b says to (05:09:54):
? if they do the ERM and just increase in small amount, they still have loans coming due ad wouldnt that take so much dinar that it would send them into high inflation
****** says to (05:09:57):
THOSE ARE MUCH MORE OF AN ISSUE THAN THEM JOINING THE GCC OR WTO
****** says to (05:10:25):
YES ANGEL IT WILL BECAUSE THERE IS ONLY ONE WAY TO KEEP THE RATE DOWN
****** says to (05:10:30):
FLOOD THE MARKET
in4fun says to (05:10:40):
does anyone know if theres been an acution yet tonight?
fancy1nancy says to (05:10:40):
Then I wonder why they even brought up the ERM?
angel42b says to (05:10:44):
ok thanks
****** says to (05:10:48):
AND THIS IS AGAINST EVERYTHING SHABS STANDS FOR
kingdavidhi says to (05:10:50):
Never is on Friday morning
****** says to (05:11:00):
OK HERE IS SOME MORE INFO FOR YOU ALL
****** says to (05:11:22):
LET US GET THESE AUCTIONS AND UNDERSTANDING THEM FULLY OK
****** says to (05:11:44):
SO YOU DON'T HAVE TO GET BUMMED WHEN YOU SEE A 295 MILLION USD AUCTION
91hotel says to (05:11:48):
they don't do auctions on fridays in4fun
****** says to (05:11:57):
FIRST
****** says to (05:12:20):
THE AUCTIONS ARE FOR THE PURCHASING AND SELLING OF FOREIGN CURRENCIES
in4fun says to (05:12:21):
thats right forgot what day ir is lol thanks king
****** says to (05:12:29):
ANY FOREIGN CURRENCY
kingdavidhi says to (05:12:35):
yw
****** says to (05:12:38):
THERE ARE TWO EXPENDITURES
****** says to (05:12:48):
TRANSERS OUT FROM CBI
****** says to (05:13:02):
USD TAKEN IN FOR THE SALE OF IQD
****** says to (05:13:25):
THE ONLY ONE YOU EVER NEED TO BE CONCERNED WITH IS THE SECOND
****** says to (05:13:32):
THE USD TAKEN IN
****** says to (05:13:44):
NOT THE TOTAL VALUE OF THE AUCTION
****** says to (05:14:16):
USD TAKEN IN IS AS I SAID FOR DINAR/IQD SOLD
****** says to (05:14:40):
ALSO CBI CANNOT SELL DINAR OUTSIDE OF THE COUNTRY TO ANY FOREIGN NATIONAL
****** says to (05:15:07):
IT CAN ONLY AUCTION OFF IQD TO BANKS INSIDE IRAQ REGISTERED WITH CBI
****** says to (05:15:29):
IT IS AGAINST THE CONSTITUTION FOR CBI TO SELL TO ANYONE ELSE
****** says to (05:15:44):
AS WAS IMPLIED THAT ALI GOT HIS IQD FROM CBI
****** says to (05:15:47):
HE DOES NOT
****** says to (05:15:58):
HE GET'S IT FROM THE TRADE BANK OF IRAQ
****** says to (05:16:03):
OR HE DID
****** says to (05:16:30):
NOW OUT OF 295 MIL PLUS AUCTION YESTERDAY
****** says to (05:16:48):
ONLY 8 MIL PLUS WAS USD FOR THE PURCHASE OF DINAR
****** says to (05:17:11):
SO THE OTHER 287 MIL WAS TRANSFERS OUT
****** says to (05:18:15):
NOW THEY ARE FOR THE PURCHASE OF OTHER COUNTRIES FOREIGN CURRENCIES FOR THE FOREIGN CURRENCY ASSETS THAT ARE REQUIRED TO COVER THE MONETARY POLICY AND LIQUIDITY OF THE IQD ABROAD
****** says to (05:18:44):
THE MORE THEY CAN BRING IN THE MORE ASSETS THEY HAVE TO COVER THE IQD ON A REVALUATION
****** says to (05:19:02):
ALSO YOU DO NOT WANT ONLY ONE CURRENCY
****** says to (05:19:19):
YOU WANT A MULTITUDE OF CURRENCIES FOR FCA'S
****** says to (05:19:31):
THIS WAY IF SOME ARE FALLING IN VALUE
****** says to (05:20:07):
NOT ALL WILL AND YOUR TOTAL VALUE WILL NOT SUFFER DRAMATICALLY
****** says to (05:20:19):
NOW THINK OF THIS OK
****** says to (05:20:37):
YOU ALL MAY REMEMBER OR KNOW ABOUT THE OTHER AUCTIONS THAT CBI HELD
****** says to (05:20:50):
FOR THE AUCTION OFF OF TBILLS AND CBI BILLS
****** says to (05:21:09):
ONE IS FOR 365 DAYS AND THE OTHER APPROX 180 DAYS
****** says to (05:21:27):
THESE ARE AS IN OUR COUNTRY BUYING DEBT
****** says to (05:21:38):
NOW IRAQ SOLD ALLOT OF DEBT
****** says to (05:22:05):
THEN SEVERAL MONTHS AGO THEY SUSPENED ALL TBILL AND CBI BILL AUCTIONS FOR 6 MONTHS
****** says to (05:22:42):
I BELIEVE THIS WAS TO BUY BACK THE DEBT AND TO ACCRUE FOREIGN CURRENCY ASSETS DURING THIS TIME
****** says to (05:23:14):
THIS IS ANOTHER PREPARATION BY SHABIBI FOR THE RV
****** says to (05:24:16):
AND HE IS USING A DIRTY FLOAT TO HOLD DOWN THE VALUE OF THE DINAR SO HE CAN BUY BACK THE DEBTS FOR LOW VALUE AND PAY THEM THE INTEREST THEY MADE FROM THOSE TBILLS AND CBI BILLS
****** says to (05:24:28):
IT IS A SMART MOVE
****** says to (05:24:57):
SEE THE MAJORITY OF THE IQD COUNTED AGAINST IRAQ
****** says to (05:25:06):
IS NOT HARD CURRENCY LIKE WE HOLD
****** says to (05:25:21):
ALSO EXPECT THE POSSIBILITY OF TWO RATES
****** says to (05:25:50):
THE 25K NOTE IS THE DOMINANT NOTE AUCTIONED OFF AND SOLD BY TRADERS
****** says to (05:25:57):
IN HARD CURRENCY
****** says to (05:26:18):
10K AND BELOW IS LESS DOMINANTLY HELD
****** says to (05:26:47):
I THINK THAT THERE IS A POSSIBILITY THAT THE 25K NOTES WILL BE BOUGHT BACK AT A LOWER RATE
****** says to (05:26:55):
AND THEN VAULTED BY CBI
****** says to (05:27:12):
AND THE 10K NOTES AND BELOW WILL HAVE ANOTHER RATE
****** says to (05:27:25):
ABOUT .90 -1.00 HIGHER
****** says to (05:27:41):
NOW THIS IS JUST CONJECTURE
****** says to (05:28:01):
BUT IT IS SWIRLING AROUND BEING DISCUSSED
****** says to (05:28:12):
AND HAS LEAKED OUT OF TBI
****** says to (05:28:47):
SO DO YOU ALL UNDERSTAND WHAT I JUST EXPLAINED OR WAS IT TOO MUCH TO DIGEST
broncos106 says to (05:29:02):
perfect
fancy1nancy says to (05:29:06):
******... it makes PERFECT sense...
****** says to (05:29:32):
I HAVE KNOWN THIS FOR ABOUT 3 WEEKS
fancy1nancy says to (05:29:33):
Guess what, Med... I finally "get it."
awwwsomegod says to (05:29:38):
that was good!
spraky says to (05:29:38):
very good
KaraokeDiva says to (05:29:45):
makes sense... ****** could i ask a ?
dinarham says to (05:29:48):
TY,med, somrtimes it takes a whike to digest
JERSEYGIRL says to (05:29:50):
yes med very good
Ur_Gold says to (05:29:53):
Med, good morning, how are you? Is Lydia feeling better?
bearcat says to (05:29:53):
Yes med. There may be one financial strategy to counter a split valuation of denominations though Med.
dinarfrank says to (05:30:03):
Double rate Sucks!! :@
MyHorseRocks says to (05:30:13):
great job...thanks much
****** says to (05:30:23):
SEE I THOUGHT YEARS AGO ABOUT THE 25K NOTES
****** says to (05:30:27):
IT WORRIED ME
****** says to (05:30:43):
SO I WENT OUT OF MY WAY TO GET 1K 5K AND 10K NOTES
****** says to (05:30:55):
I FIGURED IF I AM GOING TO INVEST
****** says to (05:31:07):
INVEST A BIT MORE AND GET LOWER DENOMS
fancy1nancy says to (05:31:26):
Med, aren't there $100K notes?
KaraokeDiva says to (05:31:32):
if they decide on the 2 rates... couldn't people trade their 25k notes for 10k or 1k notes? dinar for dinar should be possible, right? then cash in after exchanging for the smaller notes would be possible..
****** says to (05:31:37):
SOME OF MY BUDS HAVE MILLIONS IN 50 DINAR NOTES
****** says to (05:31:47):
NOPE KARAOKE
****** says to (05:31:50):
WON'T HAPPEN
****** says to (05:32:21):
I CAN GUARANTEE YOU THAT YOU WILL NOT HAVE THAT OPTION
fancy1nancy says to (05:32:48):
So... 25K and up might be a different rate... or... ?
KaraokeDiva says to (05:32:48):
ok.. just curious
KaraokeDiva says to (05:32:51):
thank you
****** says to (05:32:52):
REMEMBER THIS
****** says to (05:33:08):
YOU WILL NOT GET 2 10K AND A 5K NOTE
****** says to (05:33:31):
YOU WOULD GET THE VALUE OF 1.49 (EX) X 25K
bearcat says to (05:33:52):
Med, have you investigated the prospect of an international currency account at one of our major US banks?
****** says to (05:34:05):
NOPE BEARCAT
****** says to (05:34:10):
THIS IS IT OK
****** says to (05:34:15):
I WANT OUT SO BAD
****** says to (05:34:23):
THAT WHATEVER THEY PAY ME
****** says to (05:34:27):
I AM ECSTATIC
irwelder says to (05:34:32):
******, how can they have two rates for iqd, a dollar is a dollar whether it is a ten or a hundred, won't this be the same?
pinballwizard says to (05:34:40):
Im with ya what every there payin im running with it.
****** says to (05:34:44):
I WILL BE RICH BEYOND MY WILDEST DREAMS
bearcat says to (05:34:54):
I understand how you feel.
****** says to (05:34:56):
NO IT WILL NOT BE IRWELDER
Nash says to (05:34:57):
if you do hear some something like that, i hope you would share it with us
****** says to (05:35:05):
IT IS VERY VERY SIMPLE TO DO
****** says to (05:35:09):
AND IS NOT COMPLICATED
****** says to (05:35:21):
AND IRAQ HAS A RIGHT TO DO WHAT THEY WANT
Breitling says to (05:35:37):
and they have done it many times in the past also
****** says to (05:35:57):
NASH I HAVE SHARED SO MUCH ALREADY HAVEN'T I BREITLING IN THE PAST
irwelder says to (05:35:59):
I am with you on that, I just wish they would do something!!!!!!!!!
****** says to (05:36:26):
THAT B KNOWS I HAVE BEEN WARNED BY FED AGENCIES NOT TO USE MY SKILLS TO PASS ON EVERYTHING
Breitling says to (05:36:38):
Venezuela is doing it right now
Nash says to (05:36:42):
well duh, of course, that wasn't what i was asking
Breitling says to (05:37:00):
yes med that is correct
****** says to (05:37:07):
NO NEED TO BE THAT WAY NASH
****** says to (05:37:11):
OK
****** says to (05:37:38):
B TAKE IT FOR AWHILE MY FRIEND
fancy1nancy says to (05:37:41):
Nash... shame on you!
****** says to (05:37:43):
I WANT TO CLEAN UP
dinarfrank says to (05:37:43):
Med are you saying the 25K at $149 and smaller denoms at higher rate?
Foxyrodeo says to (05:37:52):
med can u im me please
****** says to (05:37:53):
I SAID EXAPMPLE
IRAQI OFFICIAL GAZZETTE - WEBSITE URL
TIDBIT:
I think this is a FANTASTIC NEWS SOURCE and LINK. I've placed the LINK under the "Iraqi News Sources" section for easy reference in the future. This is the GREEN section that has the various links on the right side of the blog.
http://iraqog.org/english/pn.asp
Iraqi Official GazzetteThursday 17 Sep 2009
The Official Gazette of Iraq has been published since August 1922 as a means of introducing legal measures into force via publication. The present website makes available Official Gazette entries dating from 2003 forward, along with certain other Iraqi legislation ( e.g., laws, regulations, orders, instructions). This material is for all interested users, such as Iraqi officials, Iraqi citizens, and the international community. These documents are made available for informational purposes only. For official reference, please refer to the printed version of the Official Gazette.
I think this is a FANTASTIC NEWS SOURCE and LINK. I've placed the LINK under the "Iraqi News Sources" section for easy reference in the future. This is the GREEN section that has the various links on the right side of the blog.
http://iraqog.org/english/pn.asp
Iraqi Official GazzetteThursday 17 Sep 2009
The Official Gazette of Iraq has been published since August 1922 as a means of introducing legal measures into force via publication. The present website makes available Official Gazette entries dating from 2003 forward, along with certain other Iraqi legislation ( e.g., laws, regulations, orders, instructions). This material is for all interested users, such as Iraqi officials, Iraqi citizens, and the international community. These documents are made available for informational purposes only. For official reference, please refer to the printed version of the Official Gazette.
PERHAPS POST - One Dinar
If you remember sometime ago when we seemed to have intel all the time that did not pan out, I said I would go to Washington and attempt to get a handle on our investment. Many were supportive of the idea. Well I received enough over the phone to cancel the trip. I held some of this back as I didn't want my friends to be upset, and I was not positive about the intel. This will correct some of the statements we hear that are not correct. Kar hit the nail on the head yesterday when she said "There is a plan".
1. The IMF can't and won't force the RV. They are in an agreement with Iraq and also in concert with Iraq on the RV, and would never attempt to force it.
2. The current schedule of events (which can change and speed up the RV) is first the elelctions must take place. Then it is expected that the choosing of Ministers will take a couple months. Then it will take at least eight months to RV.
3, During this time and the reasons for this time period are they are swamped with things they must accomplish. Many companies owned by the government must be privatized, attention to the agricultural requirements of the country are to be put on a fast track, etc.
I have kept this to myself so as not to upset anyone.
Finally, I still am ready for the RV any day, and hope Chaz and I do not have to make the trip. The above statements they made may very well be what they are told and believe to be true, but not necessarily fact. We will be communicating with these people on a regular basis and will keep all at One Dinar informed. If you think of any questions you would like us to ask (we will ask time frame and rate range) please post them or send me a message.
ADDITIONAL COMMENTS FROM PERHAPS:
What I am telling you is what I have been told by Iraq Diplomats. Their plan: 1st the elections - 2nd two months for the choozing of ministers and getting settled - 3rd - 8 months to perform all essential tasks, privitize many government owned companies, speed up agricultural projects, and more, then the RV can happen.. These are not my words, they are from Iraq Diplomats in this country who communicate with their counterparts in Iraq on a daily basis. I am also saying that this is not cut in stone, but is intel from knowledgable people. They gave me the info about the IMF as I asked directly, will the IMF force this. I am as anxious as anyone, and the reason I took this action to get the truth is I am also tired of Fridays and Mondays predicted and gone. Will have more soon and will share.
1. The IMF can't and won't force the RV. They are in an agreement with Iraq and also in concert with Iraq on the RV, and would never attempt to force it.
2. The current schedule of events (which can change and speed up the RV) is first the elelctions must take place. Then it is expected that the choosing of Ministers will take a couple months. Then it will take at least eight months to RV.
3, During this time and the reasons for this time period are they are swamped with things they must accomplish. Many companies owned by the government must be privatized, attention to the agricultural requirements of the country are to be put on a fast track, etc.
I have kept this to myself so as not to upset anyone.
Finally, I still am ready for the RV any day, and hope Chaz and I do not have to make the trip. The above statements they made may very well be what they are told and believe to be true, but not necessarily fact. We will be communicating with these people on a regular basis and will keep all at One Dinar informed. If you think of any questions you would like us to ask (we will ask time frame and rate range) please post them or send me a message.
ADDITIONAL COMMENTS FROM PERHAPS:
What I am telling you is what I have been told by Iraq Diplomats. Their plan: 1st the elections - 2nd two months for the choozing of ministers and getting settled - 3rd - 8 months to perform all essential tasks, privitize many government owned companies, speed up agricultural projects, and more, then the RV can happen.. These are not my words, they are from Iraq Diplomats in this country who communicate with their counterparts in Iraq on a daily basis. I am also saying that this is not cut in stone, but is intel from knowledgable people. They gave me the info about the IMF as I asked directly, will the IMF force this. I am as anxious as anyone, and the reason I took this action to get the truth is I am also tired of Fridays and Mondays predicted and gone. Will have more soon and will share.
DOLLAR WILL REMAIN THE WORLDS STRONGEST CURRENCY FOR MANY YEARS TO COME
"It is the policy of the United States and it will remain the policy of the United States to remain committed to a strong dollar."
Timothy Geithner, U.S. Treasury Secretary, (July 15, 2009)
[The dollar will remain the world’s dominant currency for] “many years to come.” He Yafei, China’s vice foreign minister, (July 5, 2009)
Presently, there is a vacuum in international affairs coming from the decline in the moral and economic stature of the United States. It is a vacuum because no other country or organization has the credibility, legitimacy and capability to fill the gap. This is particularly true in monetary and financial affairs. By default, the U.S. dollar is de facto the main supranational key currency used to finance international trade and investment.
Many countries deplore this quasi monopoly of the dollar, the more so since the financial crisis that originated in the U. S. has spread around the world, and it has profoundly damaged the reputation of the United States and severely undermined the confidence that this country inspired in the past. Add to that the illegal war of aggression that the Bush-Cheney launched against Iraq, a country that had not attacked the United States, and the lack of financial confidence in the USA is reinforced by a lack of political confidence.
The table is therefore set for revisiting the international monetary arrangements that were created in the aftermath of World War II. What were they?
In June 1944, during a monetary conference held in Bretton Woods, New Hampshire, an attempt was made to create a new world currency, above and beyond the national currencies of particular countries. Let's keep in mind that many decades before, the British pound had been used as the main international currency. A first proposal for reform came from British economist John Maynard Keynes, who advanced the idea of creating a supranational currency, the bancor, to which other currencies would have been pegged and in which countries would have held their foreign exchange reserves. An alternative plan was proposed by U.S. Treasury economist Harry D. White, in view of establishing a “Gold Exchange Standard” whose main characteristics was to use the U.S. dollar as the main key currency, the only currency then that was fully convertible and which had an official value in gold, initially at a rate of one dollar for 1/35 ounce of gold, and later, at a rate of 1/38 ounce of gold. As we all know, this was the plan that was adopted. Nevertheless, Keynes' idea was partially adopted when the International Monetary Fund (IMF) created “Special Drawing Rights” (SDRs) in 1969, to supplement the member countries' stocks of international reserves.
On August 15 1971, however, the U.S. Government unilaterally ended its obligations to convert U.S. dollars into gold. A few years later, in the aftermath of the first oil crisis, the rates of exchange of currencies of most of the industrial world were allowed to fluctuate with the state of their balances of payments, thus reducing considerably the need to hold foreign exchange reserves, most of which were still denominated in U.S. dollars. —This is the system that has prevailed until now, that is to say a flexible exchange rate system with the U.S. dollar as the main key currency.
It seems nowadays that most everybody who holds dollar-denominated assets is calling for a new international monetary system. The largest creditors, the Chinese, have initiated the debate, because they have the most to lose from the collapse of the U.S. dollar. Even the Catholic Pope has thrown in his piece of advice.
What are the chances that there could be agreement on a new supranational key currency? —Close to none. Essentially, this is because there is no viable alternative to the U.S. dollar as an international currency.
It is true that the United States, as a sovereign country, has abused and is still abusing its privileged position derived from the fact that its national currency is being used as the world key currency. So much so that there is presently an oversupply of U.S. dollars around the world. Over the years, the USA has built up huge external debts without having to suffer the full economic consequences of its profligacy. Moreover, it has used it seigniorage gains to deploy troops and military equipment around the world, a move that has created much resentment.
Politically, thus, but also financially, the rest of the world finds it increasing difficult to have to rely mainly on the U.S. dollar to finance international trade and international capital movements. It is therefore understandable that many countries would like to free the world from the obligation to use the U.S. dollar.
The most natural complement or substitute to the U.S. dollar as an international key currency would be the euro. After all, this a currency backed by fourteen strong European countries; a currency that is fully convertible into other currencies and a currency that is supported by large money and capital markets.
The euro's major weakness comes from its political base. If the entire 27-country strong European Union (EU) were backing the euro, its long-term international standing would be considerably enhanced. With only half of the E.U countries backing it, the euro zone is vulnerable in the future to a possible dissolution under the pressures of economic hardships. This is more so since the statutes of the European Central Bank are unduly rigid, not only freezing exchange rates between member states, which is OK, but also de facto freezing their fiscal policies, while the central bank itself has the goal of fighting inflation as its only objective. It seems that the objective of supporting economic growth was left out of its statutes, with the consequence that it may be unable to ride successfully future serious economic disturbances. For example, how long do you think countries like Spain are going to tolerate 17.9 percent levels of unemployment? —Nevertheless, already one quarter of the world's official reserves are in euros, as compare to a bit less than two-thirds in U.S. dollars. Baring any mishap, the dollar and the euro should share a more equal proportion of international finance in the future.
It is also said that the Chinese renminbi (its main unit is the yuan ) could be called to play the role of a global currency. Since 2005, China has adopted a managed floated exchange rate system for its currency, allowing the yuan to slowly appreciate vis-à-vis other currencies, as a partial reflection of its large foreign trade surpluses. It is pointed out that by 2020, China intends to designate the city of Shanghai as an international financial center, and that would mean that the renminbi could become fully convertible into other currencies. Already, some transactions between Hong Kong and Macau, and Mainland China, are being settled in renminbis.
Realistically, however, it is most unlikely that a Chinese currency could play a large international role, at least not for decades to come. Indeed, even though the Chinese government has some $2 trillion in official foreign reserves, China, itself as a country, has a very limited moral international stance. It is still a totalitarian, authoritarian and repressive state regime that does not recognize basic human rights, such as freedom of expression and freedom of religion, and which crushes its linguistic and religious “minority nationalities”. It is a country that imposes the death penalty, even for economic or political crimes. —This is not an example to the world. Only a fundamental political revolution in China could raise this country to a world political and monetary status. This is most unlikely to happen in the foreseeable future and, therefore, no Chinese currency is likely to play a central role in financing international trade and investment.
It is one thing to wish to replace an international key currency, it is quite another to implement such a wish. It's not that a series of bad policies has weakened the U.S. economy and the U.S. dollar, possibly for many years to come. But the requirements for a national or international currency to be used as an investment vehicle are such that there is currently no credible successor to the U.S. dollar as a key currency. There are three fundamental characteristics that a reserve currency must have: it must inspire confidence, it must be fully convertible into other currencies, and it must have a high degree of liquidity. With the possible exception of the euro, no other currency meets these criteria, although creditor countries will likely increase the share of gold in their official reserves, pushing the price of gold way up in the coming years.
Therefore, for better or for worse, the world economy needs the U.S. dollar and will keep using the U.S. dollar for the foreseeable future, before a new international monetary system can be designed many years down the road. —Therefore, you may ask where do I think the U.S. dollar is heading? With $2 trillion fiscal deficits under Treasury Secretary Geithner' watch, a zero interest rate (negative real interest rate) and an open bar printing monetary policy by the Bernanke Fed, there is currently an oversupply of U.S. dollars. This should herald a period of continued weakness for the U.S. dollar, possibly for a year or two. Then, the U.S. dollar should reach an important and secular climax low vis-a-vis the other fiat currencies, but not vis-a-vis gold whose future looks brighter by the day.
Timothy Geithner, U.S. Treasury Secretary, (July 15, 2009)
[The dollar will remain the world’s dominant currency for] “many years to come.” He Yafei, China’s vice foreign minister, (July 5, 2009)
Presently, there is a vacuum in international affairs coming from the decline in the moral and economic stature of the United States. It is a vacuum because no other country or organization has the credibility, legitimacy and capability to fill the gap. This is particularly true in monetary and financial affairs. By default, the U.S. dollar is de facto the main supranational key currency used to finance international trade and investment.
Many countries deplore this quasi monopoly of the dollar, the more so since the financial crisis that originated in the U. S. has spread around the world, and it has profoundly damaged the reputation of the United States and severely undermined the confidence that this country inspired in the past. Add to that the illegal war of aggression that the Bush-Cheney launched against Iraq, a country that had not attacked the United States, and the lack of financial confidence in the USA is reinforced by a lack of political confidence.
The table is therefore set for revisiting the international monetary arrangements that were created in the aftermath of World War II. What were they?
In June 1944, during a monetary conference held in Bretton Woods, New Hampshire, an attempt was made to create a new world currency, above and beyond the national currencies of particular countries. Let's keep in mind that many decades before, the British pound had been used as the main international currency. A first proposal for reform came from British economist John Maynard Keynes, who advanced the idea of creating a supranational currency, the bancor, to which other currencies would have been pegged and in which countries would have held their foreign exchange reserves. An alternative plan was proposed by U.S. Treasury economist Harry D. White, in view of establishing a “Gold Exchange Standard” whose main characteristics was to use the U.S. dollar as the main key currency, the only currency then that was fully convertible and which had an official value in gold, initially at a rate of one dollar for 1/35 ounce of gold, and later, at a rate of 1/38 ounce of gold. As we all know, this was the plan that was adopted. Nevertheless, Keynes' idea was partially adopted when the International Monetary Fund (IMF) created “Special Drawing Rights” (SDRs) in 1969, to supplement the member countries' stocks of international reserves.
On August 15 1971, however, the U.S. Government unilaterally ended its obligations to convert U.S. dollars into gold. A few years later, in the aftermath of the first oil crisis, the rates of exchange of currencies of most of the industrial world were allowed to fluctuate with the state of their balances of payments, thus reducing considerably the need to hold foreign exchange reserves, most of which were still denominated in U.S. dollars. —This is the system that has prevailed until now, that is to say a flexible exchange rate system with the U.S. dollar as the main key currency.
It seems nowadays that most everybody who holds dollar-denominated assets is calling for a new international monetary system. The largest creditors, the Chinese, have initiated the debate, because they have the most to lose from the collapse of the U.S. dollar. Even the Catholic Pope has thrown in his piece of advice.
What are the chances that there could be agreement on a new supranational key currency? —Close to none. Essentially, this is because there is no viable alternative to the U.S. dollar as an international currency.
It is true that the United States, as a sovereign country, has abused and is still abusing its privileged position derived from the fact that its national currency is being used as the world key currency. So much so that there is presently an oversupply of U.S. dollars around the world. Over the years, the USA has built up huge external debts without having to suffer the full economic consequences of its profligacy. Moreover, it has used it seigniorage gains to deploy troops and military equipment around the world, a move that has created much resentment.
Politically, thus, but also financially, the rest of the world finds it increasing difficult to have to rely mainly on the U.S. dollar to finance international trade and international capital movements. It is therefore understandable that many countries would like to free the world from the obligation to use the U.S. dollar.
The most natural complement or substitute to the U.S. dollar as an international key currency would be the euro. After all, this a currency backed by fourteen strong European countries; a currency that is fully convertible into other currencies and a currency that is supported by large money and capital markets.
The euro's major weakness comes from its political base. If the entire 27-country strong European Union (EU) were backing the euro, its long-term international standing would be considerably enhanced. With only half of the E.U countries backing it, the euro zone is vulnerable in the future to a possible dissolution under the pressures of economic hardships. This is more so since the statutes of the European Central Bank are unduly rigid, not only freezing exchange rates between member states, which is OK, but also de facto freezing their fiscal policies, while the central bank itself has the goal of fighting inflation as its only objective. It seems that the objective of supporting economic growth was left out of its statutes, with the consequence that it may be unable to ride successfully future serious economic disturbances. For example, how long do you think countries like Spain are going to tolerate 17.9 percent levels of unemployment? —Nevertheless, already one quarter of the world's official reserves are in euros, as compare to a bit less than two-thirds in U.S. dollars. Baring any mishap, the dollar and the euro should share a more equal proportion of international finance in the future.
It is also said that the Chinese renminbi (its main unit is the yuan ) could be called to play the role of a global currency. Since 2005, China has adopted a managed floated exchange rate system for its currency, allowing the yuan to slowly appreciate vis-à-vis other currencies, as a partial reflection of its large foreign trade surpluses. It is pointed out that by 2020, China intends to designate the city of Shanghai as an international financial center, and that would mean that the renminbi could become fully convertible into other currencies. Already, some transactions between Hong Kong and Macau, and Mainland China, are being settled in renminbis.
Realistically, however, it is most unlikely that a Chinese currency could play a large international role, at least not for decades to come. Indeed, even though the Chinese government has some $2 trillion in official foreign reserves, China, itself as a country, has a very limited moral international stance. It is still a totalitarian, authoritarian and repressive state regime that does not recognize basic human rights, such as freedom of expression and freedom of religion, and which crushes its linguistic and religious “minority nationalities”. It is a country that imposes the death penalty, even for economic or political crimes. —This is not an example to the world. Only a fundamental political revolution in China could raise this country to a world political and monetary status. This is most unlikely to happen in the foreseeable future and, therefore, no Chinese currency is likely to play a central role in financing international trade and investment.
It is one thing to wish to replace an international key currency, it is quite another to implement such a wish. It's not that a series of bad policies has weakened the U.S. economy and the U.S. dollar, possibly for many years to come. But the requirements for a national or international currency to be used as an investment vehicle are such that there is currently no credible successor to the U.S. dollar as a key currency. There are three fundamental characteristics that a reserve currency must have: it must inspire confidence, it must be fully convertible into other currencies, and it must have a high degree of liquidity. With the possible exception of the euro, no other currency meets these criteria, although creditor countries will likely increase the share of gold in their official reserves, pushing the price of gold way up in the coming years.
Therefore, for better or for worse, the world economy needs the U.S. dollar and will keep using the U.S. dollar for the foreseeable future, before a new international monetary system can be designed many years down the road. —Therefore, you may ask where do I think the U.S. dollar is heading? With $2 trillion fiscal deficits under Treasury Secretary Geithner' watch, a zero interest rate (negative real interest rate) and an open bar printing monetary policy by the Bernanke Fed, there is currently an oversupply of U.S. dollars. This should herald a period of continued weakness for the U.S. dollar, possibly for a year or two. Then, the U.S. dollar should reach an important and secular climax low vis-a-vis the other fiat currencies, but not vis-a-vis gold whose future looks brighter by the day.
ATM SYSTEM INTRODUCED TO IRAQ BANKS
Friday, January 15, 2010 08:38 GMT
For the first time in Iraq many public and private Banks introduced the international ATM system which contributes in facilitating money transfer between Iraq and other countries. For the first time in Iraq many public and private Banks introduced the international ATM system which contributes in facilitating money transfer between Iraq and other countries. The activation of this service aims to reduce the hindrances which impede investing in Iraq. The activation of this service aims to reduce the hindrances which impede investing in Iraq.
http://translate.googleusercontent.com/translate_c?hl=en&sl=ar&tl=en&u=http://alsumaria.tv/ar/Economics-News-Iraq/3-43190-ATM-system-introduced-in-Iraq-banks..html&prev=hp&rurl=translate.google.co.uk&usg=ALkJrhg5xj24RRXzEuH6WaoNFKQAq_1ozQ
For the first time in Iraq many public and private Banks introduced the international ATM system which contributes in facilitating money transfer between Iraq and other countries. For the first time in Iraq many public and private Banks introduced the international ATM system which contributes in facilitating money transfer between Iraq and other countries. The activation of this service aims to reduce the hindrances which impede investing in Iraq. The activation of this service aims to reduce the hindrances which impede investing in Iraq.
http://translate.googleusercontent.com/translate_c?hl=en&sl=ar&tl=en&u=http://alsumaria.tv/ar/Economics-News-Iraq/3-43190-ATM-system-introduced-in-Iraq-banks..html&prev=hp&rurl=translate.google.co.uk&usg=ALkJrhg5xj24RRXzEuH6WaoNFKQAq_1ozQ
TALIBANI ANNOUNCED HIS CANDIDACY FOR THE PRESIDENTIAL TERM FUTURE
President Jalal Talabani, he will run for the next presidential term if there is mandated by the parliamentary blocs, stressing that he will not disappoint their hopes in it.
The newspaper quoted the Middle East, London, on Thursday, quoted Talabani as saying that he would run for the presidential elections to come if there was a mandate from the parliamentary blocs and political changes in Iraq, it will not disappoint their hopes will not refuse this assignment, "explained" Personally, I would like not to run, because I need to full-time and work more in the Patriotic Union of Kurdistan, and to my family and a break to write my memoirs.
"Talabani said, according to the newspaper, "When I was assigned to the Presidency before I met all the main political blocs in Iraq, which was unanimously agreed to this assignment," he continued, "I told the brothers in the political bureau of the Patriotic Union of Kurdistan that I have when I go to Baghdad as President of the Republic will take off my clothes Kurdish and Iraqi wear abaya and head of an Iraqi, I act for all Iraqis without discrimination.
"He Talabani, "I am proud of being a acted as an Iraqi, and all Iraqis, and applied this in my first President of the Republic of Baghdad and advisers, which includes Sunni Arabs, Shiites, Turkmen, Christians, Yazidis, and Sabean and Kakaiien," adding that "the allocation of the presidency spent on associations and organizations, Iraqi Arab did not spend them until 5 % of the Iraqi Kurdish organizations. "Friday, January 15, 2010
http://translate.googleusercontent.com/translate_c?hl=en&u=http://radionawa.com/%28X%281%29A%28VY5_QGvMygEkAAAAODNmYWIwYjMtMDU4Zi00ZmEzLThlNDEtYTJiM2U1NjVmYmEx8IrkhptmC9-ol9tYRERxVpXkK_U1%29%29/ar/NewsDetailN.aspx%3Fid%3D72280%26LinkID%3D109%26AspxAutoDetectCookieSupport%3D1&prev=/language_tools&rurl=translate.google.com&usg=ALkJrhiMMzLcLB0cDooiU7vfYvFgSF752g
The newspaper quoted the Middle East, London, on Thursday, quoted Talabani as saying that he would run for the presidential elections to come if there was a mandate from the parliamentary blocs and political changes in Iraq, it will not disappoint their hopes will not refuse this assignment, "explained" Personally, I would like not to run, because I need to full-time and work more in the Patriotic Union of Kurdistan, and to my family and a break to write my memoirs.
"Talabani said, according to the newspaper, "When I was assigned to the Presidency before I met all the main political blocs in Iraq, which was unanimously agreed to this assignment," he continued, "I told the brothers in the political bureau of the Patriotic Union of Kurdistan that I have when I go to Baghdad as President of the Republic will take off my clothes Kurdish and Iraqi wear abaya and head of an Iraqi, I act for all Iraqis without discrimination.
"He Talabani, "I am proud of being a acted as an Iraqi, and all Iraqis, and applied this in my first President of the Republic of Baghdad and advisers, which includes Sunni Arabs, Shiites, Turkmen, Christians, Yazidis, and Sabean and Kakaiien," adding that "the allocation of the presidency spent on associations and organizations, Iraqi Arab did not spend them until 5 % of the Iraqi Kurdish organizations. "Friday, January 15, 2010
http://translate.googleusercontent.com/translate_c?hl=en&u=http://radionawa.com/%28X%281%29A%28VY5_QGvMygEkAAAAODNmYWIwYjMtMDU4Zi00ZmEzLThlNDEtYTJiM2U1NjVmYmEx8IrkhptmC9-ol9tYRERxVpXkK_U1%29%29/ar/NewsDetailN.aspx%3Fid%3D72280%26LinkID%3D109%26AspxAutoDetectCookieSupport%3D1&prev=/language_tools&rurl=translate.google.com&usg=ALkJrhiMMzLcLB0cDooiU7vfYvFgSF752g
BREITLING CHAT - Dinar Vets 1/14/10 @ 10pm EST
Breitling's Chat Jan 14 2010 10 pm
--------------------------------------------------------------------------------
Breitling: feb 15th 1.49
Breitling: was 1.44
Breitling: but new numbers i got today adjusted 1.49
Breitling: best guess
Breitling: HAGER BECAUSE THE IMF AND UNSC HAVE THEM BY THE YOU KNOW WHAT
Breitling: THE IMF CAN AND WILL RV IT
Breitling: AND IRAQ WONT LIKE THE RATE
Breitling: REMEMBER UNSC HAS TONS OF IRAQ ASSETS
Breitling: IRAQ WANT THEM BACK
Breitling: SO THEY HAVE TO FOLLOW UNSC STIPS
Breitling: IRAQ WANTS THE REST OF THE LOANS
Breitling: SO THEY HAVE TO FALLOW THE STIPS FROM THE IMF
Breitling: THATS WHAT IS MOTIVATING THEM
Breitling: AND ALSO IF THEY WANT TO BE ON THE WORLD SATGE
Breitling: THEY HAVE TO FOLLOW IMF STIPS AND HAVE A CURRENCY
Breitling: SO THIS IS WHY WE FOLLOW THOSE TWO STIPS AND LAWS
Breitling: AND THEN WE WATCH IRAQ FUNCTION WITH IN IRAQ LAW TO GET TO THAT POINT
Breitling: THEY HAVE TO DO A 20% INCREAE IN THE DINAR DRAGSTER
Breitling: SO RIGHT NOW WHAT IS IT 1170 ?
Breitling: OK NOW THAT WILL COVER IRAQ'S 20% BUDGET
Breitling: BUT WILL NOT COVER THE REST OF THE YEAR OR ANY
FUNDS THEY OWE TO THE IMF
Breitling: SO THEY WILL HAVE TO RV IT AGAIN
Breitling: LET ME PUT IT THIS WAY
Breitling: IRAQ WANTS TO HAVE A CURRENCY AT A NUMBER THEY PICKED
Breitling: THEY GO TO THE IMF AND ASK HOW DO WE JUSTIFY THIS NUMBER
Breitling: IMF DOES A AUDIT
Breitling: THEN GOVES STIPS
Breitling: TO BACK IT
gator4ever: and every day that passes oil goes up and up and Iraq gets richer.
But their people are still eating dirt.
Breitling: LAST YEAR YOU HAVE BEEN WATCHING JUST THAT
Breitling: UNDERSTAND
Breitling: WHAT IS GOOD FOR US
Breitling: IS ALL THE STIPS , IMF AND THE UNSC HAVE GAVE IRAQ
indian 1: B WHAT WAS THE NUMBER THAT THE IMF AGREED UPON BACK IN THE SUMMER?? WASNT IT LIKE $2.27 OR SOMETHING CLOSE TO THAT
Breitling: EXCEPT ONE THING
Breitling: HAVE HOT EVERY ONE OF THEM
Breitling: AND THAT IS THE RV
Breitling: NO LAST YEAR WAS 1.13
Breitling: SORRY 2008
Breitling: 2008 WAS 1.20 SOMETHING
Breitling: THIS YEAR 1.40
Breitling: LIFE THE 20 % IS JUST FOR ONE MONTHS WOTH OF BUDGET
Breitling: DONT WORRY ABOUT THAT
Breitling: THE MORE MONEY IRAQ OWES
Breitling: THE HIGHER THE RV HAS TO BE
chaser: is it possible that iraq could keep postponing this for some time
Breitling: YES THEY COULD
Breitling: BUT THE IMF WILL FORCE IT THEN
gator4ever: but why would they?
Breitling: THEY HAVE NO CASH LEFT
Breitling: PAYS FOR JAN UNTIL FIRST QTR IS OVER WITH
Breitling: 20-25 %
Breitling: JOE NO , THE SMALLER BUDGET PLAN IS ON THE TABLE
Breitling: BUT DONT HAVE A CLUE IF THEY WILL USE IT
lifenajeep: Oh OK I see now, they are almost done with 1st quarter....
Breitling: CORRECT JEEP
Breitling: JUST PAYS FOR THAT
Breitling: AND THE NEXT BUDGET WILL BE SET FOR REST OF YEAR
Breitling: WITH NEW RATE WE HOPE
lifenajeep: I guess I was thinking thier year started when the budget was accepted
Breitling: IT WAS SUPPOSED TO
Breitling: BUT REMEMBER
Breitling: THE ELECTIONS WERE SUPPOSED TO BE IN JAN
Breitling: SO IT THREW IT ALL OFF
Breitling: UNSC LAWS Breitling: IMF LAWS
Breitling: AND IRAQ LAWS ( INCLUDUNG THE BUDGET ) WILL GET US THERE
Breitling: JUST LOOK AT WHAT IRAQ WANTS
Breitling: WHAT THEY NEED
Breitling: AND THE LAWS
Breitling: THAT SIMPLE
--------------------------------------------------------------------------------
Breitling: feb 15th 1.49
Breitling: was 1.44
Breitling: but new numbers i got today adjusted 1.49
Breitling: best guess
Breitling: HAGER BECAUSE THE IMF AND UNSC HAVE THEM BY THE YOU KNOW WHAT
Breitling: THE IMF CAN AND WILL RV IT
Breitling: AND IRAQ WONT LIKE THE RATE
Breitling: REMEMBER UNSC HAS TONS OF IRAQ ASSETS
Breitling: IRAQ WANT THEM BACK
Breitling: SO THEY HAVE TO FOLLOW UNSC STIPS
Breitling: IRAQ WANTS THE REST OF THE LOANS
Breitling: SO THEY HAVE TO FALLOW THE STIPS FROM THE IMF
Breitling: THATS WHAT IS MOTIVATING THEM
Breitling: AND ALSO IF THEY WANT TO BE ON THE WORLD SATGE
Breitling: THEY HAVE TO FOLLOW IMF STIPS AND HAVE A CURRENCY
Breitling: SO THIS IS WHY WE FOLLOW THOSE TWO STIPS AND LAWS
Breitling: AND THEN WE WATCH IRAQ FUNCTION WITH IN IRAQ LAW TO GET TO THAT POINT
Breitling: THEY HAVE TO DO A 20% INCREAE IN THE DINAR DRAGSTER
Breitling: SO RIGHT NOW WHAT IS IT 1170 ?
Breitling: OK NOW THAT WILL COVER IRAQ'S 20% BUDGET
Breitling: BUT WILL NOT COVER THE REST OF THE YEAR OR ANY
FUNDS THEY OWE TO THE IMF
Breitling: SO THEY WILL HAVE TO RV IT AGAIN
Breitling: LET ME PUT IT THIS WAY
Breitling: IRAQ WANTS TO HAVE A CURRENCY AT A NUMBER THEY PICKED
Breitling: THEY GO TO THE IMF AND ASK HOW DO WE JUSTIFY THIS NUMBER
Breitling: IMF DOES A AUDIT
Breitling: THEN GOVES STIPS
Breitling: TO BACK IT
gator4ever: and every day that passes oil goes up and up and Iraq gets richer.
But their people are still eating dirt.
Breitling: LAST YEAR YOU HAVE BEEN WATCHING JUST THAT
Breitling: UNDERSTAND
Breitling: WHAT IS GOOD FOR US
Breitling: IS ALL THE STIPS , IMF AND THE UNSC HAVE GAVE IRAQ
indian 1: B WHAT WAS THE NUMBER THAT THE IMF AGREED UPON BACK IN THE SUMMER?? WASNT IT LIKE $2.27 OR SOMETHING CLOSE TO THAT
Breitling: EXCEPT ONE THING
Breitling: HAVE HOT EVERY ONE OF THEM
Breitling: AND THAT IS THE RV
Breitling: NO LAST YEAR WAS 1.13
Breitling: SORRY 2008
Breitling: 2008 WAS 1.20 SOMETHING
Breitling: THIS YEAR 1.40
Breitling: LIFE THE 20 % IS JUST FOR ONE MONTHS WOTH OF BUDGET
Breitling: DONT WORRY ABOUT THAT
Breitling: THE MORE MONEY IRAQ OWES
Breitling: THE HIGHER THE RV HAS TO BE
chaser: is it possible that iraq could keep postponing this for some time
Breitling: YES THEY COULD
Breitling: BUT THE IMF WILL FORCE IT THEN
gator4ever: but why would they?
Breitling: THEY HAVE NO CASH LEFT
Breitling: PAYS FOR JAN UNTIL FIRST QTR IS OVER WITH
Breitling: 20-25 %
Breitling: JOE NO , THE SMALLER BUDGET PLAN IS ON THE TABLE
Breitling: BUT DONT HAVE A CLUE IF THEY WILL USE IT
lifenajeep: Oh OK I see now, they are almost done with 1st quarter....
Breitling: CORRECT JEEP
Breitling: JUST PAYS FOR THAT
Breitling: AND THE NEXT BUDGET WILL BE SET FOR REST OF YEAR
Breitling: WITH NEW RATE WE HOPE
lifenajeep: I guess I was thinking thier year started when the budget was accepted
Breitling: IT WAS SUPPOSED TO
Breitling: BUT REMEMBER
Breitling: THE ELECTIONS WERE SUPPOSED TO BE IN JAN
Breitling: SO IT THREW IT ALL OFF
Breitling: UNSC LAWS Breitling: IMF LAWS
Breitling: AND IRAQ LAWS ( INCLUDUNG THE BUDGET ) WILL GET US THERE
Breitling: JUST LOOK AT WHAT IRAQ WANTS
Breitling: WHAT THEY NEED
Breitling: AND THE LAWS
Breitling: THAT SIMPLE
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