This is an interesting analysis of the international currency markets, specifically the relationship between the Chinese yuan and the USD.
China hitches yuan to dollar, cedes control
by Caroline Baum on Sunday, 13 December 2009
President Barack Obama got an earful from China's leaders on his inaugural trip to Asia earlier this month.
They wanted to know about the weak US dollar, rock-bottom interest rates, big budget deficit, trade protectionism in the form of tyre tariffs and "massive speculation" inflating asset bubbles around the world. China's top banking regulator, Liu Mingkang, said US policies were creating "new, real and insurmountable risks" to the global recovery, especially in emerging economies.
Obama took it all in. Too bad his ubiquitous teleprompter didn't provide him with an appropriate response: The dollar is our currency, but your problem.
That's what president Richard M Nixon's Treasury secretary, John Connally, told a delegation of Europeans worried about exchange rate fluctuations in 1971. The comment is equally relevant today.
In hitching its currency, the yuan, to the dollar, China cedes sovereignty over its monetary policy. That's China's choice.
Once made, if China is unhappy about the dollar/yuan exchange rate, "tough luck," said Bill Poole, former president of the Federal Reserve Bank of St Louis, in a paper prepared for the Cato Institute's Annual Monetary Conference on Nov 19.
Poole made several other points, albeit in a more diplomatic manner:
- It is not the responsibility of the US to conduct its policies for the benefit of other countries;
- Neither the Fed nor any part of the US government has an obligation to maintain the purchasing power of dollar-denominated assets in a currency other than the dollar;
- The US is obligated to maintain price stability at home, which is good for the world economy.
US interest rates may be too low, the dollar may be too weak and speculation may be rampant in emerging markets. But these are considerations for US policymakers as they relate to US price stability and economic growth. It is not the Fed's mandate, nor its business, to deliver price stability to China, Taiwan and Singapore.
That's not the way everyone sees it. Curiously, the same folks who regularly insist that the Treasury, not the Fed, runs "dollar policy" claim the onus for the weak dollar and yuan rests with the Fed.
For the record, the Treasury can instruct the Fed to intervene in the foreign exchange market to buy or sell dollars. It cannot prevent the Fed from offsetting those purchases or sales via open market operations. Which means that the Fed has de facto control over the dollars in circulation, and any suggestion the Treasury has a "dollar policy," - strong, weak or otherwise - is hogwash.
US monetary policy may not be the right fit for China's booming economy. However, allowing the yuan to float, and most likely appreciate, would certainly reduce China's competitiveness.
Last year US imports from China totalled a record $337.8bn, almost five times the value of exports to China, according to the US Census Bureau.
Does China want to reduce its exports and create mass unemployment as it seeks to absorb agricultural workers from the countryside into its urban factories? The unwillingness to let the yuan appreciate suggests it does not.
When a country decides to maintain a fixed-exchange rate, it has to buy or sell its own currency to maintain the peg. China is an extreme example, accumulating $2.3 trillion of foreign exchange reserves, most of it in US dollars, from its trade surplus.
China's exporters get paid in dollars and convert those dollars to yuan, courtesy of the People's Bank of China.
Where does the PBOC get the constant stream of yuan it needs to buy dollars? It creates them, which has the effect of increasing bank reserves. The banks, in turn, lend those yuan out, which increases the money supply.
China's M2 money supply is growing at a 29 percent year- over-year rate, which, in economist parlance, is "unsustainable." The US has a potential inflation problem, with banks hoarding more than $1 trillion of excess reserves rather than making new loans. Its M2 money supply has shown no growth since June, and bank credit has been falling almost consistently for the last thirteen months.
While the lag between money growth and inflation can be long and variable, China's inflation problem is more immediate, its asset bubbles more threatening. The Chinese government enacted a $586bn stimulus package last year and reduced interest rates five times, producing a $1.3 trillion expansion in credit this year.
China's benchmark stock index was up more than 80 percent before last week's slide, and property prices are booming.
If China's authoritarian leaders think the dollar is too weak, interest rates are too low or speculation too destabilising, they can do something about it. Telling the US how to run policy isn't the solution. Letting the yuan float would be a start.
Or, as that ancient Chinese proverb says (OK, I made that part up), lie down with dogs, you get up with fleas.
Caroline Baum, author of ‘Just What I Said', is a Bloomberg News columnist. The opinions expressed are her own.
http://www.arabianbusiness.com/575800-china-hitches-yuan-to-dollar-cedes-control
Sunday, December 13, 2009
SFMEDIC CHAT
THOMSON RUETERS IS NOT FOR TRADING STOCK. IT IS FOR TRADING BY PROFESSIONAL REGISTERED FOREX TRADERS. THOSE TRADERS MUST BE REGISTERED WITH THOMSON RUETERS. NOW THE TRADE BANK OF IRAQ HAS BEEN TRADING ONLINE UNDER THIS SYSTEM SINCE THE 7TH. UNLESS YOU ARE REGISTERED WITH THOMSON RUETERS OR WITH TBI YOU CANNOT ACCESS IT. NOW WHAT THIS ALL MEANS I DO NOT KNOW. ONLY A PROFESSIONAL FOREX TRADER CAN ANSWER THAT FOR US. I KNOW WE HAVE SOME ON HERE. NOW I BELIEVE THIS IS A POSSIBLE INTERBANK TRADING. THEY CAN DO THAT FOR SO LONG WITHOUT AN RV. NOW THAT IS ALL I HAVE ON THAT. NOW I AM NOT UP TO ANSWERING ?'S. SORRY BUT JUST CAN'T. NOW I WISH THAT PEOPLE COULD WAIT UNTIL I AM DONE AND YOU JUMP IN. SORRY ALL DONE.
ANOTHER POST----------------------------------------------------------------------
BOTTOM LINE. THAT IS TRYING TO GET AWAY WITH ECONOMIC SUCCESS THROUGH EASY MEANS. IT WON'T WORK. NOW FROM SOMEONE I TRUST AND THIS IS AT A VERY HIGH LEVERL IN A CORPORATE BANK. HE SAID THE IQD IS GOING TO DEFINATELY RV. HE JUST DOESN'T KNOW WHEN. THERE IS NO REASON THEY SAY THAT IS HOLDING THEM UP TO RV. THEY JUST HAVEN'T DONE IT. AND TO TELL YOU THE TRUTH I HAVE NO CLUE WHY. NOTHING WE CAN FIND OR HEAR EXPLAINS WHY IT HASN'T RV'D. BANKS IN THE US ALL OVER ARE SPECULATING IT IS COMING. BUT WHY ARE THEY? THEY ARE IN THE SAME BOAT AS US. THEY ARE NOT GETTING ANY INFO FROM THE TREASURY. SO THEY ARE ALSO FOLLOWING RUMORS. THERE IS NOT ONE CORPORATE BANK THAT DOES NOT THINK IT IS HAPPENING BEFORE THE END OF THE YEAR. NOW I WANT TO THROW A FEW THINGS OUT FOR FOOD FOR THOUGHT. OBAMA WANTED A NEW TAX LAW THAT WOULD HAVE TAKEN ALOT OF OUR MONEY FROM US. IT WAS NOT PASSED. AND HE WANTED IT BEFORE THE END OF THE YEAR PASSED. AGAIN HE DID NOT GET IT. WHY DID HE WANT IT? DOES ANYONE ELSE KNOW OF A N INVESTMENT THAT COULD BE THE LARGEST SINGLE TRANSFER OF WEALTH EVER IN HISTORY? THAT IS ON THE TABLE.
OK THEN THINK OF THE NEXT THING THAT THE PRESIDENT JUST DID? CAN ANYONE TELL ME WHAT OBAMA JUST MADE UP? FOR NEW WEALTH… NEW IRS TASK FORCE.. 1000 new IRS employees.. AND EXCUSE ME BUT WHAT NEW WEALTH? UNEMPLOYMENT IS AT AN ALL TIME HIGH. MY FRIEND CRUNCHED SOME NUMBERS. THERE ARE APPROXIMATELY 200 MILLION TAXPAYERS. LET'S SAY HALF HAVE TO PAY IN. HALF GET MONEY BACK. WHEN HE FIGURED IT OUT, THE 500,000 WHO WILL HAVE TO PAY IN TAXES ON THE IQD. WILL PAY MORE THAN THE 100 MILLION. SO THERE IS GOOD REASON TO HAVE A NEW WEALTH IRS TEAM. NOW GET A GOOD PERSON TO DO YOUR TAXES. SO THE GOVT ARE NOT RUNNING UP YOUR BACKSIDE WITH A FINE TOOTH COMB. CUZ THEY ARE NOT GOING TO LET US GET AWAY WITH ANYTHING.
ANOTHER POST----------------------------------------------------------------------
BOTTOM LINE. THAT IS TRYING TO GET AWAY WITH ECONOMIC SUCCESS THROUGH EASY MEANS. IT WON'T WORK. NOW FROM SOMEONE I TRUST AND THIS IS AT A VERY HIGH LEVERL IN A CORPORATE BANK. HE SAID THE IQD IS GOING TO DEFINATELY RV. HE JUST DOESN'T KNOW WHEN. THERE IS NO REASON THEY SAY THAT IS HOLDING THEM UP TO RV. THEY JUST HAVEN'T DONE IT. AND TO TELL YOU THE TRUTH I HAVE NO CLUE WHY. NOTHING WE CAN FIND OR HEAR EXPLAINS WHY IT HASN'T RV'D. BANKS IN THE US ALL OVER ARE SPECULATING IT IS COMING. BUT WHY ARE THEY? THEY ARE IN THE SAME BOAT AS US. THEY ARE NOT GETTING ANY INFO FROM THE TREASURY. SO THEY ARE ALSO FOLLOWING RUMORS. THERE IS NOT ONE CORPORATE BANK THAT DOES NOT THINK IT IS HAPPENING BEFORE THE END OF THE YEAR. NOW I WANT TO THROW A FEW THINGS OUT FOR FOOD FOR THOUGHT. OBAMA WANTED A NEW TAX LAW THAT WOULD HAVE TAKEN ALOT OF OUR MONEY FROM US. IT WAS NOT PASSED. AND HE WANTED IT BEFORE THE END OF THE YEAR PASSED. AGAIN HE DID NOT GET IT. WHY DID HE WANT IT? DOES ANYONE ELSE KNOW OF A N INVESTMENT THAT COULD BE THE LARGEST SINGLE TRANSFER OF WEALTH EVER IN HISTORY? THAT IS ON THE TABLE.
OK THEN THINK OF THE NEXT THING THAT THE PRESIDENT JUST DID? CAN ANYONE TELL ME WHAT OBAMA JUST MADE UP? FOR NEW WEALTH… NEW IRS TASK FORCE.. 1000 new IRS employees.. AND EXCUSE ME BUT WHAT NEW WEALTH? UNEMPLOYMENT IS AT AN ALL TIME HIGH. MY FRIEND CRUNCHED SOME NUMBERS. THERE ARE APPROXIMATELY 200 MILLION TAXPAYERS. LET'S SAY HALF HAVE TO PAY IN. HALF GET MONEY BACK. WHEN HE FIGURED IT OUT, THE 500,000 WHO WILL HAVE TO PAY IN TAXES ON THE IQD. WILL PAY MORE THAN THE 100 MILLION. SO THERE IS GOOD REASON TO HAVE A NEW WEALTH IRS TEAM. NOW GET A GOOD PERSON TO DO YOUR TAXES. SO THE GOVT ARE NOT RUNNING UP YOUR BACKSIDE WITH A FINE TOOTH COMB. CUZ THEY ARE NOT GOING TO LET US GET AWAY WITH ANYTHING.
FRANK POST
Good evening Family,
How many more UN meetings are there Family? One. Therefore IMO……….one more chance………..for the announcement or they get squat.
I AM GOING TO PUT THIS INTEL IN CAPITAL LETTERS BECAUSE IMO……….IT IS THE INTEL I HAVE BEEN WAITING TO SHARE WITH YOU BESIDES ………….THE RED RI AND FIREWORKS. HERE GOES:
ONE OF OUR ARAB SPEAKING TEAM MEMBERS JUST CALLED. THIS MAN CAN BE AS DRY …………AS A DESERT. HE IS STRAIGHT FORWARD AND VERY FRANK………..WITH FRANK. HE WAS EXCITED AS HE EXPLAINED TO ME THAT THERE IS A GREAT REQUEST FOR THE DINAR BY THE IRAQI PEOPLE AT THIS MOMENT IN IRAQ. WE TOLD HIM THAT WE ARE AWARE OF THAT………..BUT HE INSISTED FOR ME TO LISTEN. HE WENT ON TO EXPRESS THAT THE GOVERNMENT OF IRAQ IS “PULLING” DINARS OUT OF THE MARKETPLACE AS WE SPEAK. THE PEOPLE ARE DEMANDING THE DINAR BECAUSE THERE IS VERY LITTLE OF IT AROUND AND THEY KNOW THAT THE RATE IS ABOUT TO GO UP. HE KEPT SAYING………THERE IS VERY LITTLE DINAR OUT THERE. HERE IS THE KEY POINT……..JUST AS I WAS ABOUT TO SAY IT, HE SAYS IT FIRST……….FRANK, THEY DID THE SAME THING IN KUWAIT JUST BEFORE THE ANNOUNCEMENT. WITH A KNOT IN MY THROAT AND SOMEWHAT MOISTENED EYES………..I SAID………..YES, I REMEMBER. I WENT ON TO EXPLAIN THAT IMO………..THIS IS A LOGISTICAL BEGINNING. THERE ARE HUGE LOGISTICS THAT HAVE TO SWING INTO PLACE. IT IS HAPPENING.
At 1:47am this morning Family ……….I received two pictures of a 10 and 25 lower denom. A soldier had just arrived and he had it in his duffle bag stuffed with many other old Saddam Swiss notes. This afternoon I received a phone call and email of a 1 lower denom.
KTF,
Frank
How many more UN meetings are there Family? One. Therefore IMO……….one more chance………..for the announcement or they get squat.
I AM GOING TO PUT THIS INTEL IN CAPITAL LETTERS BECAUSE IMO……….IT IS THE INTEL I HAVE BEEN WAITING TO SHARE WITH YOU BESIDES ………….THE RED RI AND FIREWORKS. HERE GOES:
ONE OF OUR ARAB SPEAKING TEAM MEMBERS JUST CALLED. THIS MAN CAN BE AS DRY …………AS A DESERT. HE IS STRAIGHT FORWARD AND VERY FRANK………..WITH FRANK. HE WAS EXCITED AS HE EXPLAINED TO ME THAT THERE IS A GREAT REQUEST FOR THE DINAR BY THE IRAQI PEOPLE AT THIS MOMENT IN IRAQ. WE TOLD HIM THAT WE ARE AWARE OF THAT………..BUT HE INSISTED FOR ME TO LISTEN. HE WENT ON TO EXPRESS THAT THE GOVERNMENT OF IRAQ IS “PULLING” DINARS OUT OF THE MARKETPLACE AS WE SPEAK. THE PEOPLE ARE DEMANDING THE DINAR BECAUSE THERE IS VERY LITTLE OF IT AROUND AND THEY KNOW THAT THE RATE IS ABOUT TO GO UP. HE KEPT SAYING………THERE IS VERY LITTLE DINAR OUT THERE. HERE IS THE KEY POINT……..JUST AS I WAS ABOUT TO SAY IT, HE SAYS IT FIRST……….FRANK, THEY DID THE SAME THING IN KUWAIT JUST BEFORE THE ANNOUNCEMENT. WITH A KNOT IN MY THROAT AND SOMEWHAT MOISTENED EYES………..I SAID………..YES, I REMEMBER. I WENT ON TO EXPLAIN THAT IMO………..THIS IS A LOGISTICAL BEGINNING. THERE ARE HUGE LOGISTICS THAT HAVE TO SWING INTO PLACE. IT IS HAPPENING.
At 1:47am this morning Family ……….I received two pictures of a 10 and 25 lower denom. A soldier had just arrived and he had it in his duffle bag stuffed with many other old Saddam Swiss notes. This afternoon I received a phone call and email of a 1 lower denom.
KTF,
Frank
PHOENIX CHAT - Gold Rush
[12:09] Phoenix3333: I was just reading how the ISX will be down for 2 weeks
[12:10] Phoenix3333: from the 22nd to the 4th of January
[12:10] Phoenix3333: IF we do not see the RV today or tomorrow we may not see it untiol the ISX closes
[12:11] Phoenix3333: That would give the ISX the time needed to reset stock values and such
[12:11] Phoenix3333: so if that IS the case and if they are waiting on that we may not see the RV until the 21st or after
[12:12] Phoenix3333: Now if you will remember
[12:12] Phoenix3333: My contact said that we would have a window for exchange
[12:12] Phoenix3333: that window would be no longer than 48 days but no less than 7 days
[12:13] secret admirer: Phx, A very good friend of mine told me this morning that he saw on CNBC TV news last night that Iraq and 20 countries had revalved their courrency.
[12:13] Phoenix3333: Now...the last 7 banking days in 2009 deadline would be the 22nd
[12:13] Phoenix3333: nice....tell me more SA
[12:14] Phoenix3333: I have heard nothing yet
[12:14] secret admirer: That is all I know until I talk to him after he gets home from church or eating out after church
[12:14] Phoenix3333: everyone please give Secret A the floor
[12:15] Phoenix3333: I have been doing all sorts of things this am
[12:15] Phoenix3333: let me make a few calls
[12:15] Phoenix3333: brb
[12:21] secret admirer: ployboy adn phx, just talked to the source and he said ie was on CNBC Saturday morning he confirmed that with another friend at church and he saw the saw thing
[12:22] Plowboy: what time zone are they in?
[12:22] secret admirer: Eastern
[12:23] secret admirer: Also he said that it is suppose to show up on Monday, I sure hope it does
[12:23] jgrem73: cool thank you
[12:23] stargate: forex is closed
[12:23] secret admirer: I think until 6 pm today
[12:28] Phoenix3333: ok as we know there was an auction today
[12:28] Phoenix3333: now i do not know what was seen on CNBC...
[12:28] IRONMAN: all i saw was where the US is urging China to revalue its currency
[12:28] Phoenix3333: because there has been no announcement yet
[12:28] Phoenix3333: but it could have been something else
[12:29] Phoenix3333: now SA if you can get the exact time this was seen and in which time zone we can find this info on CNBC
[12:30] Plowboy: she said sat morning
[12:31] Phoenix3333: word is from Iraq boots on the ground something has changed
[12:31] Plowboy: why stargate,, its called $$$
[12:31] IRONMAN: why would the U.S. have to "urge" China to do a revalue...???? i thought that was already in the works
[12:31] Phoenix3333: as of today in Iraq the Iraqis are doing everything they can to get every dinar they can
[12:32] Phoenix3333: they are all dumping dollars and are trying to get dinar
[12:32] Phoenix3333: this was reported from Iraq today from a trusted person
[12:33] Phoenix3333: also the rate is listed with a major currency exchange in Canada
[12:33] Phoenix3333: and has been from Friday
[12:33] Phoenix3333: and has been from Friday
[12:34] Phoenix3333: no word on when this new rate that is in the system will go into effect
[12:34] IRONMAN: what is the new rate that is listed
[12:35] Phoenix3333: $2.46 i was told
[12:35] Phoenix3333: but
[12:35] Phoenix3333: we will know when we see it
[12:35] IRONMAN: still sounds good though.
[12:35] rvnow: i wanted 2.47
[12:37] Phoenix3333: Or maybe it was $2.27
[12:37] Phoenix3333: 46....47
[12:37] IRONMAN: do we have a name of the currency exchange in Canada..???
[12:37] Phoenix3333: we will know when we see it
[12:38] Phoenix3333: Yes we do
12:38] Phoenix3333: and no i will not
[12:45] Phoenix3333: Secret A. You get that info yet?
[12:48] Phoenix3333: The rate is on the system and not public
[12:48] Plowboy: i had heard earlier just before i came online, something was happening in Iraq, but had no clue what
[12:48] Phoenix3333: What had you heard PB?
[13:00] IRONMAN: i have nothing but confidence in this.
[13:11] Phoenix3333: Senate set to vote on $1.1 trillion spending bill today
[13:11] Phoenix3333: On SUNDAY!
[13:11] Phoenix3333: AND
[13:12] Phoenix3333: Obama is meeting with all of the major bank CEOs tomorrow morning!
[13:12] Phoenix3333: this is to cover the RV
[13:13] Phoenix3333: this is so Obama gets credit for the economic recovery caused by the RV
[13:13] Phoenix3333: Do you not remember what my contact said last week?
[13:14] Phoenix3333: We were told that the Obama admin was working hard to come up with a plan to make it look as if it was Obama who saved the economy
[13:15] Phoenix3333: Right after our contact told us this Geigtner came out with the TARP money plan and Obama said he was going to have a new stimulus plan
[13:16] Phoenix3333: and that was right after they had said over and over there would be no second stimulus
13:21] Phoenix3333: Lake posted and article from Jordan that stated the US economy would soon recover like a bolt of lightning! But it would be short lived
13:27] Phoenix3333: Executives from 12 banks, including Citigroup Inc., Goldman Sachs Group Inc. and JPMorgan Chase & Co., will participate in a Dec. 14 White House meeting with President Barack Obama
[13:28] Phoenix3333: http:// articles ofintere st-kelle y.blogsp ot.com/2 009/12/o bama-to- meet-cit igroup-g oldman-1 0.html
13:29] Phoenix3333: So we have the 1 Trillion $ spending bill passed today on a Sunday and tomorrow the President meets with all of the CEOs from the 12 major banks
[12:10] Phoenix3333: from the 22nd to the 4th of January
[12:10] Phoenix3333: IF we do not see the RV today or tomorrow we may not see it untiol the ISX closes
[12:11] Phoenix3333: That would give the ISX the time needed to reset stock values and such
[12:11] Phoenix3333: so if that IS the case and if they are waiting on that we may not see the RV until the 21st or after
[12:12] Phoenix3333: Now if you will remember
[12:12] Phoenix3333: My contact said that we would have a window for exchange
[12:12] Phoenix3333: that window would be no longer than 48 days but no less than 7 days
[12:13] secret admirer: Phx, A very good friend of mine told me this morning that he saw on CNBC TV news last night that Iraq and 20 countries had revalved their courrency.
[12:13] Phoenix3333: Now...the last 7 banking days in 2009 deadline would be the 22nd
[12:13] Phoenix3333: nice....tell me more SA
[12:14] Phoenix3333: I have heard nothing yet
[12:14] secret admirer: That is all I know until I talk to him after he gets home from church or eating out after church
[12:14] Phoenix3333: everyone please give Secret A the floor
[12:15] Phoenix3333: I have been doing all sorts of things this am
[12:15] Phoenix3333: let me make a few calls
[12:15] Phoenix3333: brb
[12:21] secret admirer: ployboy adn phx, just talked to the source and he said ie was on CNBC Saturday morning he confirmed that with another friend at church and he saw the saw thing
[12:22] Plowboy: what time zone are they in?
[12:22] secret admirer: Eastern
[12:23] secret admirer: Also he said that it is suppose to show up on Monday, I sure hope it does
[12:23] jgrem73: cool thank you
[12:23] stargate: forex is closed
[12:23] secret admirer: I think until 6 pm today
[12:28] Phoenix3333: ok as we know there was an auction today
[12:28] Phoenix3333: now i do not know what was seen on CNBC...
[12:28] IRONMAN: all i saw was where the US is urging China to revalue its currency
[12:28] Phoenix3333: because there has been no announcement yet
[12:28] Phoenix3333: but it could have been something else
[12:29] Phoenix3333: now SA if you can get the exact time this was seen and in which time zone we can find this info on CNBC
[12:30] Plowboy: she said sat morning
[12:31] Phoenix3333: word is from Iraq boots on the ground something has changed
[12:31] Plowboy: why stargate,, its called $$$
[12:31] IRONMAN: why would the U.S. have to "urge" China to do a revalue...???? i thought that was already in the works
[12:31] Phoenix3333: as of today in Iraq the Iraqis are doing everything they can to get every dinar they can
[12:32] Phoenix3333: they are all dumping dollars and are trying to get dinar
[12:32] Phoenix3333: this was reported from Iraq today from a trusted person
[12:33] Phoenix3333: also the rate is listed with a major currency exchange in Canada
[12:33] Phoenix3333: and has been from Friday
[12:33] Phoenix3333: and has been from Friday
[12:34] Phoenix3333: no word on when this new rate that is in the system will go into effect
[12:34] IRONMAN: what is the new rate that is listed
[12:35] Phoenix3333: $2.46 i was told
[12:35] Phoenix3333: but
[12:35] Phoenix3333: we will know when we see it
[12:35] IRONMAN: still sounds good though.
[12:35] rvnow: i wanted 2.47
[12:37] Phoenix3333: Or maybe it was $2.27
[12:37] Phoenix3333: 46....47
[12:37] IRONMAN: do we have a name of the currency exchange in Canada..???
[12:37] Phoenix3333: we will know when we see it
[12:38] Phoenix3333: Yes we do
12:38] Phoenix3333: and no i will not
[12:45] Phoenix3333: Secret A. You get that info yet?
[12:48] Phoenix3333: The rate is on the system and not public
[12:48] Plowboy: i had heard earlier just before i came online, something was happening in Iraq, but had no clue what
[12:48] Phoenix3333: What had you heard PB?
[13:00] IRONMAN: i have nothing but confidence in this.
[13:11] Phoenix3333: Senate set to vote on $1.1 trillion spending bill today
[13:11] Phoenix3333: On SUNDAY!
[13:11] Phoenix3333: AND
[13:12] Phoenix3333: Obama is meeting with all of the major bank CEOs tomorrow morning!
[13:12] Phoenix3333: this is to cover the RV
[13:13] Phoenix3333: this is so Obama gets credit for the economic recovery caused by the RV
[13:13] Phoenix3333: Do you not remember what my contact said last week?
[13:14] Phoenix3333: We were told that the Obama admin was working hard to come up with a plan to make it look as if it was Obama who saved the economy
[13:15] Phoenix3333: Right after our contact told us this Geigtner came out with the TARP money plan and Obama said he was going to have a new stimulus plan
[13:16] Phoenix3333: and that was right after they had said over and over there would be no second stimulus
13:21] Phoenix3333: Lake posted and article from Jordan that stated the US economy would soon recover like a bolt of lightning! But it would be short lived
13:27] Phoenix3333: Executives from 12 banks, including Citigroup Inc., Goldman Sachs Group Inc. and JPMorgan Chase & Co., will participate in a Dec. 14 White House meeting with President Barack Obama
[13:28] Phoenix3333: http:// articles ofintere st-kelle y.blogsp ot.com/2 009/12/o bama-to- meet-cit igroup-g oldman-1 0.html
13:29] Phoenix3333: So we have the 1 Trillion $ spending bill passed today on a Sunday and tomorrow the President meets with all of the CEOs from the 12 major banks
ISX TRADING SUSPENDED UNTIL 1/4/10
Board of Governors decided the Iraqi market for securities بTwenty-sixth its session held suspended from trading in the securities market Finance.
The economic source for the reporter (news agency, Iraqi Information / conscious) that "the securities market Decided to 12/12 / 2009, said to be the last trading session of 2009 on Tuesday, 12/22/2009 on the occasion of the end of the fiscal year and will be the first trading session of the new 2010 year on Monday, 4/1/2010.
http://translate.google.com.pr/trans...n&hl=&ie=UTF-8
The economic source for the reporter (news agency, Iraqi Information / conscious) that "the securities market Decided to 12/12 / 2009, said to be the last trading session of 2009 on Tuesday, 12/22/2009 on the occasion of the end of the fiscal year and will be the first trading session of the new 2010 year on Monday, 4/1/2010.
http://translate.google.com.pr/trans...n&hl=&ie=UTF-8
PAPPAJACK POST
If as we have been hearing that Iraq will RI on a weekend has any basis then this is the last weekend before the UN meetings. If not then another misconception is busted. Things are happening and many good signs point to this happening today or tomorrow but remember this is IRAQ we are dealing with.
WILDCAT - Dinar Speculator
xxxxx, thank you for the update, I have a Nephew whose dad is a retired US Bank Corp VP, He indicated that the IQD is for real and that some of his colleauges in corprate are invested in IQD and feel that this will break in the very near future.
REGIONS BANK RUMOR - Unknown Source
Good news!!
OK...THIS IS TRUE...... A banker ___ associate of mine that works for Regions Bank has told me this info. Regions is changing the way they do business. As in training their employees for a better quality of people than quantity. They are training people to be more of a financial adviser than a loan office. They are expecting a sudden overflow of millionaires. Anyone want to give their two dinars worth as to why?
Saturday, December 12, 2009
DINAR VALUE INCREASE REFERENCE TABLE
I've put together a simple table showing what you would make per ONE MILLION DINAR if the RV were to occur at the rates shown below for your reference.
Potential Value Increase per Million Dinar
If the IQD increases to: The value would be:
$0.01 $10,000
$0.10 $100,000
$0.20 $200,000
$0.50 $500,000
$1.00 $1,000,000
$1.49 $1,490,000
$2.47 $2,470,000
$3.27 $3,270,000
$3.89 $3,890,000
CURRENCY CONVERSIONS REFERENCE TABLE
I'm posting these possible currency conversion rate numbers to assist you as investors should you run across different exchange rate numbers in the near future. This should help you in that effort. I've highlighted those rates we've heard of the most lately.
| IQD | = | $ | Conversion ($) | Conversion (IQD) |
| 1153 | = | 1 | 0.000867 | 1153 |
| 100 | = | 1 | 0.01 | 100 |
| 10 | = | 1 | 0.1 | 10 |
| 1 | = | 1 | 1 | 1 |
| 1 | = | 1.49 | 1.49 | 0.67114 |
| 1 | = | 2.47 | 2.47 | 0.40486 |
| 1 | = | 3.27 | 3.27 | 0.30581 |
| 1 | = | 3.86 | 3.86 | 0.25906 |
BRIANLPN POST - DinarVets
the individual i spoke with did say that all meetings regarding the revaluation of the iraq dinar had been concluded and that all things involved including the rate at which it was to revalue had been decided. i asked this person if they knew the rate or when it was to be released and was told " my level of security clearance will not allow me access to that information, so i couldnt tell you if i wanted to", so we are still waiting on the fed for a release. thats all i know at this time.
Al-Shahristani Announces Oil Investment Returns
http://translate.googleusercontent.c...H1PvqTa8kLJJ7w
Al-Shahristani announced that the volume of investment returns oil would approach 200 billion dollars a year
Author: HM
Editor: NK | MN
Saturday, 12 k 1 2009 16:07 GMT 1292
http://www.alsumarianews.com/
Alsumaria News / Baghdad
The Oil Ministry announced at the end of licensing round investment of Iraqi oil fields Second, the volume of investment in oil fields will reach 100 billion dollars, with oil revenues by about $ 200 billion annually, while adviser said the Cabinet that the Council has no reservations about the fields that are won by investment firms.
He said Oil Minister Hussain al-Shahristani on the sidelines of the conclusion of the second round of investment licenses, which took place over two days and ended on Saturday in an interview with "Alsumaria News", "The ten fields won by the oil companies, three oil fields in the first round of licensing and seven oil fields in the reached the second round of licensing investment of approximately $ 100 billion. "
Shahristani said that "this investment will bring to Iraq, the financial returns of up to $ 200 billion annually in light of current prices, regardless of the expectation of higher price per barrel of oil during the coming period," indicating that "the proceeds will be allocated to rebuild Iraq," as he put it.
The Iraqi Oil Ministry signed two contracts in the second and third of last month was the first with a consortium of companies (BP) British and the Chinese National Development Rumaila oil, and the second with an international consortium led by Italy's ENI to develop the field Zubair, also signed an initial contract on 29 October the past with Exxon Mobil Corp. and Royal Dutch Shell Group to develop the West Qurna field.
They competed a major international energy companies to win the first licensing round in July 2009.
The Minister of Oil that "what is accepted today in the second licensing round for oil fields of the seven won by a group of companies, is expected to raise Iraq's production of crude oil increased by four million and 765 thousand barrels a day."
The Oil Ministry announced during the second licensing round, which began on Friday and lasted for two days, the victory of a coalition Dutch Shell and Malaysia's Petronas to develop Majnoon oil in the province of Maysan, a coalition of business, with his CNBC Chinese and Malaysian Petronas and France's Total to develop the field is also a fact Halfayah in the province of Maysan.
The coalition won the Russian company Lukoil Oil Stadium and the Norwegian investment in West Qurna stage II, and has won Snegul investment in the field star, which is located in the province of Nineveh, and the coalition won the Malaysian company Petronas and JAPEX Japanese investment in the field of Gharraf in the province of Dhi Qar, and finally won a coalition of business Kaz Akrum Russian, company ITP or Turkish, and Korean companies to invest Ko Kaz field Badra border in Wasit province.
He pointed out that al-Shahristani, "the production of three fields, which were transmitted to some of the companies in the first round of licensing a Rumaila and West Qurna and Zubair fields, would amount to six million and 400 thousand barrels per day, in addition to Iraq's current production, which amounts to مليونين and 500 thousand barrels per day from oil fields other, what would make Iraq's production of crude oil total to more than 12 million barrels a day, during the next six years, "adding that" Iraq will be at the forefront of Petroleum Exporting Countries during the next few years. "
Egyptian Minister of Oil that "prices provided by the companies to invest in these fields is very acceptable from Iraq, there are no companies applied for the development of ideals of any other fields in the world," noting that "the winning companies in the licensing round of the first and second distributed in Asia, Europe, America and Africa" .
The winning companies in the first round of licenses and the second had submitted bids to develop oil fields at prices ranging between $ 15 and six cents per barrel of oil.
For his part, chairman of the State Counsel of the Council of Minister Thamer Ghadhban said in an interview for "Alsumaria News", "The Council of Ministers has no reservations to the oil fields that were presented today to invest in the second licensing round."
The Anger that "the oil fields included in the second round of licenses are required fields and non-productive and there is a near consensus on the need to hire international oil companies to develop," he continued saying, "The reservations raised on the tour was the first formal licenses do not affect the nature of the contracts signed by the Ministry of Oil these companies with the initials ", he said.
The Oil Minister Hussain al-Shahristani, was announced at the end of December 2008 the start of the competition for the second session of the licenses of ten fields from Iraqi oil fields of 78 fields, which included the West Qurna and Saybah in the province of Basra, Majnoon and Halfaya in the province of Maysan, Dhi field Gharraf Qar, and a field ensured the coral in the Middle Euphrates, and a field east of Baghdad, and a field Qayyarah and field star in Mosul, and the field of Badra in the province of Wasit, and fields in eastern Diyala province.
Al-Shahristani announced that the volume of investment returns oil would approach 200 billion dollars a year
Author: HM
Editor: NK | MN
Saturday, 12 k 1 2009 16:07 GMT 1292
http://www.alsumarianews.com/
Alsumaria News / Baghdad
The Oil Ministry announced at the end of licensing round investment of Iraqi oil fields Second, the volume of investment in oil fields will reach 100 billion dollars, with oil revenues by about $ 200 billion annually, while adviser said the Cabinet that the Council has no reservations about the fields that are won by investment firms.
He said Oil Minister Hussain al-Shahristani on the sidelines of the conclusion of the second round of investment licenses, which took place over two days and ended on Saturday in an interview with "Alsumaria News", "The ten fields won by the oil companies, three oil fields in the first round of licensing and seven oil fields in the reached the second round of licensing investment of approximately $ 100 billion. "
Shahristani said that "this investment will bring to Iraq, the financial returns of up to $ 200 billion annually in light of current prices, regardless of the expectation of higher price per barrel of oil during the coming period," indicating that "the proceeds will be allocated to rebuild Iraq," as he put it.
The Iraqi Oil Ministry signed two contracts in the second and third of last month was the first with a consortium of companies (BP) British and the Chinese National Development Rumaila oil, and the second with an international consortium led by Italy's ENI to develop the field Zubair, also signed an initial contract on 29 October the past with Exxon Mobil Corp. and Royal Dutch Shell Group to develop the West Qurna field.
They competed a major international energy companies to win the first licensing round in July 2009.
The Minister of Oil that "what is accepted today in the second licensing round for oil fields of the seven won by a group of companies, is expected to raise Iraq's production of crude oil increased by four million and 765 thousand barrels a day."
The Oil Ministry announced during the second licensing round, which began on Friday and lasted for two days, the victory of a coalition Dutch Shell and Malaysia's Petronas to develop Majnoon oil in the province of Maysan, a coalition of business, with his CNBC Chinese and Malaysian Petronas and France's Total to develop the field is also a fact Halfayah in the province of Maysan.
The coalition won the Russian company Lukoil Oil Stadium and the Norwegian investment in West Qurna stage II, and has won Snegul investment in the field star, which is located in the province of Nineveh, and the coalition won the Malaysian company Petronas and JAPEX Japanese investment in the field of Gharraf in the province of Dhi Qar, and finally won a coalition of business Kaz Akrum Russian, company ITP or Turkish, and Korean companies to invest Ko Kaz field Badra border in Wasit province.
He pointed out that al-Shahristani, "the production of three fields, which were transmitted to some of the companies in the first round of licensing a Rumaila and West Qurna and Zubair fields, would amount to six million and 400 thousand barrels per day, in addition to Iraq's current production, which amounts to مليونين and 500 thousand barrels per day from oil fields other, what would make Iraq's production of crude oil total to more than 12 million barrels a day, during the next six years, "adding that" Iraq will be at the forefront of Petroleum Exporting Countries during the next few years. "
Egyptian Minister of Oil that "prices provided by the companies to invest in these fields is very acceptable from Iraq, there are no companies applied for the development of ideals of any other fields in the world," noting that "the winning companies in the licensing round of the first and second distributed in Asia, Europe, America and Africa" .
The winning companies in the first round of licenses and the second had submitted bids to develop oil fields at prices ranging between $ 15 and six cents per barrel of oil.
For his part, chairman of the State Counsel of the Council of Minister Thamer Ghadhban said in an interview for "Alsumaria News", "The Council of Ministers has no reservations to the oil fields that were presented today to invest in the second licensing round."
The Anger that "the oil fields included in the second round of licenses are required fields and non-productive and there is a near consensus on the need to hire international oil companies to develop," he continued saying, "The reservations raised on the tour was the first formal licenses do not affect the nature of the contracts signed by the Ministry of Oil these companies with the initials ", he said.
The Oil Minister Hussain al-Shahristani, was announced at the end of December 2008 the start of the competition for the second session of the licenses of ten fields from Iraqi oil fields of 78 fields, which included the West Qurna and Saybah in the province of Basra, Majnoon and Halfaya in the province of Maysan, Dhi field Gharraf Qar, and a field ensured the coral in the Middle Euphrates, and a field east of Baghdad, and a field Qayyarah and field star in Mosul, and the field of Badra in the province of Wasit, and fields in eastern Diyala province.
SFMEDIC CHAT
chat 12/12 0930 cst
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OK I NEVER SAID IT RV'D YESTERDAY. WHAT I SAID IS I GOT FORWARDED AN EMAIL OF A CONVERSATION BETWEEN MR I AND A WARKA INVESTOR. IT EXPLAINED WHAT WAS GOING ON WITH TH IQD. THAT THE IQD HAS ALREADY BEEN REVALUED. I DO NOT KNOW WHEN IT WAS DONE, ONLY THAT YESTERDAY I FOUND OUT THE HOLD UP WAS SYSTEM FAILURES. MY FRIEND WHO JUST RETIRED FROM CITIBANK...FRIEND WHO IS THE CORP VP... GO TO THE WARKA OFFICE AT CITIBANKS CORP OFFICE IN NY, WHICH IS IN THE SAME BUILDING. THEY TOLD HIM THAT THEY HAD SYSTEM ISSUES, BUT DID NOT GIVE UP ANY INFO ON THE IQD. NOW IT IS OBVIOUS TO ANYONE WHO HAS FOLLOWED THE TBI/THOMSON RUETERS SAGA THAT THEY WERE REPORTED TO SUPPOSEDLY BE ONLINE RIGHT AFTER THE EID ENDED. MY ? AND IT IS SIMPLE ANSWER. ARE THEY? NO...SO IF THEY ARE NOT ONLINE AND INTERNATIONALLY TRADING FOREIGN CURRENCY, THEN SOMETHING MUST BE WRONG. YES OR NO? YES...NOW THEY CANNOT GO INTERNATIONAL WITHOUT A TRADABLE CURRENCY EVEN IF IT WAS ONLY 1170. THAT IS WHY THE CMS FOREX CONTRACT CANNOT BE ENFORCED. IRAQI CAN TRADE, BUT THEY CAN'T USE THE IQD EVEN LOADED ON AN ATM CARD. IT DOES NOT CONVERT NOR IS IT ACCEPTED FOR PAYMENT OF SERVICES ON FOREX. NOW IF A PERSON IS LOSING SITE OF THE PROGRESS HERE AND DOES NOT UNDERSTAND THE STEPS THAT ARE MANDATORY TO MEET THE REQUIREMENTS TO INTERNATIONALLY TRADE,THEN I DON'T KNOW WHAT I CAN DO TO PROVE TO YOU THIS IS AT THE VERY END IF NOT DONE ALREADY. IN FACT, I WOULD NOT BE SURPRISED IF OTHER MECHANISMS HAVE NOT ALREADY BEEN NOTIFIED OF THE RV AND HAVE A RATE AND DATE. REMEMBER WE ARE THE ONLY COUNTRY THAT HAS THEM ON AN OFAC (Office of Foreign Asset Control) LIST. NOBODY ELSE HAS TO RECOGNIZE IT.
LDBREWE: do you also think that part of the delay is the security in the country?
SFMEDIC: NO SECURITY IS NOT THE ISSUE
STLOU : if the US has them on the OFAC list..why would they be pushing them to RV now? It seems they would take them off for that to happen.
SFMEDIC: THE SECURITY WOULD BE A MUTE POINT IF THEY HAD AN RV. THEY DO NOT NEED TO TAKE THEM OFF UNTIL THEY DO RV.
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OK I NEVER SAID IT RV'D YESTERDAY. WHAT I SAID IS I GOT FORWARDED AN EMAIL OF A CONVERSATION BETWEEN MR I AND A WARKA INVESTOR. IT EXPLAINED WHAT WAS GOING ON WITH TH IQD. THAT THE IQD HAS ALREADY BEEN REVALUED. I DO NOT KNOW WHEN IT WAS DONE, ONLY THAT YESTERDAY I FOUND OUT THE HOLD UP WAS SYSTEM FAILURES. MY FRIEND WHO JUST RETIRED FROM CITIBANK...FRIEND WHO IS THE CORP VP... GO TO THE WARKA OFFICE AT CITIBANKS CORP OFFICE IN NY, WHICH IS IN THE SAME BUILDING. THEY TOLD HIM THAT THEY HAD SYSTEM ISSUES, BUT DID NOT GIVE UP ANY INFO ON THE IQD. NOW IT IS OBVIOUS TO ANYONE WHO HAS FOLLOWED THE TBI/THOMSON RUETERS SAGA THAT THEY WERE REPORTED TO SUPPOSEDLY BE ONLINE RIGHT AFTER THE EID ENDED. MY ? AND IT IS SIMPLE ANSWER. ARE THEY? NO...SO IF THEY ARE NOT ONLINE AND INTERNATIONALLY TRADING FOREIGN CURRENCY, THEN SOMETHING MUST BE WRONG. YES OR NO? YES...NOW THEY CANNOT GO INTERNATIONAL WITHOUT A TRADABLE CURRENCY EVEN IF IT WAS ONLY 1170. THAT IS WHY THE CMS FOREX CONTRACT CANNOT BE ENFORCED. IRAQI CAN TRADE, BUT THEY CAN'T USE THE IQD EVEN LOADED ON AN ATM CARD. IT DOES NOT CONVERT NOR IS IT ACCEPTED FOR PAYMENT OF SERVICES ON FOREX. NOW IF A PERSON IS LOSING SITE OF THE PROGRESS HERE AND DOES NOT UNDERSTAND THE STEPS THAT ARE MANDATORY TO MEET THE REQUIREMENTS TO INTERNATIONALLY TRADE,THEN I DON'T KNOW WHAT I CAN DO TO PROVE TO YOU THIS IS AT THE VERY END IF NOT DONE ALREADY. IN FACT, I WOULD NOT BE SURPRISED IF OTHER MECHANISMS HAVE NOT ALREADY BEEN NOTIFIED OF THE RV AND HAVE A RATE AND DATE. REMEMBER WE ARE THE ONLY COUNTRY THAT HAS THEM ON AN OFAC (Office of Foreign Asset Control) LIST. NOBODY ELSE HAS TO RECOGNIZE IT.
ANY OTHER QUESTIONS?
UPTHERIVER: morning, I just got on but did I think it's great news that forex now shows the iqd as a "strong " buy
UPTHERIVER: morning, I just got on but did I think it's great news that forex now shows the iqd as a "strong " buy
SFMEDIC: IT SHOWED IT AS A STRONG BUY FOR MONTHS
INDIANARICH : How are retailers paying for imported goods? I have not found anything....
SFMEDIC: SEVERAL COUNTRIES ACCEPT TH E IQD AS PAYMENT FOR GOODS, BUT THEY DO NOT OR CANNOT CASH THEM IN. FRANCE TAKES ABOUT 25O BILLION IN USD/IQD A YEAR FROM IRAQ.
INDIANARICH: at the current rate we know or a pre-arranged number?
SFMEDIC: NO AT THE CURRENT RATE
LDBREWE: do you also think that part of the delay is the security in the country?
SFMEDIC: NO SECURITY IS NOT THE ISSUE
STLOU : if the US has them on the OFAC list..why would they be pushing them to RV now? It seems they would take them off for that to happen.
SFMEDIC: THE SECURITY WOULD BE A MUTE POINT IF THEY HAD AN RV. THEY DO NOT NEED TO TAKE THEM OFF UNTIL THEY DO RV.
RENNOV81 : ofac?
SFMEDIC: OFFICE FOREIGN ASSET CONTROL
UPTHERIVER : so once again it's the US that is kinda the holdup?
SFMEDIC: NO, THE US IS NOT HOLDING ANYTHING UP AND NEVER HAVE.
dlittle6: on the auctions, when they are buying it back, who are they buying it from?? thanks
SFMEDIC: THEY BUY BACK FROM THOSE ENTITIES THAT HAVE PURCHASED IRAQS DEBTS FROM THE SALE OF TBILLS AND CB BILLS. THINK ABOUT THIS WEEK AND ALL THAT HAPPENED THAT WAS PROBABLY SO OUT OF CONTEXT FOR IRAQ
OK – Now the List of Events
1) THE IMMINENT VETO OF THE ELECTION LAW THAT TOOK SEATS AWAY FROM THE SUNNIS AND WAS GUARANTEED A VETO BY HASHEMI, NEVER HAPPENED. WHY?
2) THEN THE NEXT SURPRISE, HASHEMI SIGNS OFF ON THE EL AND IT IS THEN POSTED IN THE GAZETTE AS OFFICIAL
3) THEN A POPULAR SUNNI VP IS FORCED OUT OF OFFICE
4) THE BOMBINGS
5) IRAQ DOES NOT DO WHAT IRAQ IS SO PREDICTABLE AT DOING THEY DO NOT HAVE A 72 MOURNING CALLED OR PASSED
6) THEY ANNOUNCE THAT THE OIL AUCTIONS ARE TAKING PLACE ON TIME AND WILL NOT BE CANCELED EVEN THOUGH THE BOMBINGS THAT COST 127 LIVES AND HUNDREDS MORE WOUNDED
7) THE LAST AUCTION OF THE WEEK IS OVER 200 MILLION FOR THE FIRST TIME ON A THURSDAY SINCE MAY 28 OF THIS YEAR
WE FIND OUT THAT SYSTEM ISSUES ARE CAUSING THE RV TO BE DELAYED
9) TWO THINGS PROVE PART OF THIS, ONE IS THAT NO TBI ONLINE THERE IS A RED FLAG
10) I HAVE IT CONFIRMED THAT THERE ARE SYSTEM FAILURE ISSUES THAT WARKA REPORTS
11) WE KNOW THAT OUR PRESIDENT HAS INTERVENED IN KURDISTAN ASKING PRESIDENT BARZANI NOT TO BUCK THE LAW
12) MALIKI HAS 1500 ARRESTED FOR CORRUPTION
13) LUKOIL THE LAST OF THE UNSC PERMANENT MEMBERS OF THE UNSC COUNTRIES GETS AN OIL CONTRACT
14) GAG ORDERS ARE GIVE TO THE US TREASURY EMPLOYEES THAT THEY ARE NOT TO DISCUSS THE IQD OUTSIDE OF THE US TREASURY
IN FACT MY FRIENDS SOURCE WAS MET ON FRIDAY MORNING AT HIS OFFICE IN THE TREASURY IN DC AND WAS PUT ON ADMINISTRATIVE LEAVE
15) WE KNOW THAT US FORCES HAVE BEEN CALLED FOR SPECIFIC DUTIES OF GUARDING BANKS AND OTHER FACILITIES INSIDE IRAQ
16) WE ALSO KNOW THAT MALIKI ON NOVEMBER 26TH OF THIS YEAR STATED THAT UNEMPLOYMENT WILL BE OVER BY EOY 2009.
JUST HOW IN THE HECK IS HE GOING TO ACHIEVE THAT? SO THERE IS A LITTLE BIT OF THE PROGRESS FROM THIS WEEK.
SFMEDIC: THEY BUY BACK FROM THOSE ENTITIES THAT HAVE PURCHASED IRAQS DEBTS FROM THE SALE OF TBILLS AND CB BILLS. THINK ABOUT THIS WEEK AND ALL THAT HAPPENED THAT WAS PROBABLY SO OUT OF CONTEXT FOR IRAQ
OK – Now the List of Events
1) THE IMMINENT VETO OF THE ELECTION LAW THAT TOOK SEATS AWAY FROM THE SUNNIS AND WAS GUARANTEED A VETO BY HASHEMI, NEVER HAPPENED. WHY?
2) THEN THE NEXT SURPRISE, HASHEMI SIGNS OFF ON THE EL AND IT IS THEN POSTED IN THE GAZETTE AS OFFICIAL
3) THEN A POPULAR SUNNI VP IS FORCED OUT OF OFFICE
4) THE BOMBINGS
5) IRAQ DOES NOT DO WHAT IRAQ IS SO PREDICTABLE AT DOING THEY DO NOT HAVE A 72 MOURNING CALLED OR PASSED
6) THEY ANNOUNCE THAT THE OIL AUCTIONS ARE TAKING PLACE ON TIME AND WILL NOT BE CANCELED EVEN THOUGH THE BOMBINGS THAT COST 127 LIVES AND HUNDREDS MORE WOUNDED
7) THE LAST AUCTION OF THE WEEK IS OVER 200 MILLION FOR THE FIRST TIME ON A THURSDAY SINCE MAY 28 OF THIS YEAR
WE FIND OUT THAT SYSTEM ISSUES ARE CAUSING THE RV TO BE DELAYED9) TWO THINGS PROVE PART OF THIS, ONE IS THAT NO TBI ONLINE THERE IS A RED FLAG
10) I HAVE IT CONFIRMED THAT THERE ARE SYSTEM FAILURE ISSUES THAT WARKA REPORTS
11) WE KNOW THAT OUR PRESIDENT HAS INTERVENED IN KURDISTAN ASKING PRESIDENT BARZANI NOT TO BUCK THE LAW
12) MALIKI HAS 1500 ARRESTED FOR CORRUPTION
13) LUKOIL THE LAST OF THE UNSC PERMANENT MEMBERS OF THE UNSC COUNTRIES GETS AN OIL CONTRACT
14) GAG ORDERS ARE GIVE TO THE US TREASURY EMPLOYEES THAT THEY ARE NOT TO DISCUSS THE IQD OUTSIDE OF THE US TREASURY
IN FACT MY FRIENDS SOURCE WAS MET ON FRIDAY MORNING AT HIS OFFICE IN THE TREASURY IN DC AND WAS PUT ON ADMINISTRATIVE LEAVE
15) WE KNOW THAT US FORCES HAVE BEEN CALLED FOR SPECIFIC DUTIES OF GUARDING BANKS AND OTHER FACILITIES INSIDE IRAQ
16) WE ALSO KNOW THAT MALIKI ON NOVEMBER 26TH OF THIS YEAR STATED THAT UNEMPLOYMENT WILL BE OVER BY EOY 2009.
JUST HOW IN THE HECK IS HE GOING TO ACHIEVE THAT? SO THERE IS A LITTLE BIT OF THE PROGRESS FROM THIS WEEK.
GOTTABEME POST
12/11/09 PM
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gottabme: I really hesitate to say anything because I haven't gotten any validation on the intel and the only reason I will say anything is because the source is one of our own whom I trust , family member who is heavily invested and worked for and is connected to a security team in Iraq. He is getting intel from the boyz who are on the ground in Iraq pulling security duty.
9:28 PM gottabme: These boyz have no reason to not be telling the truth period. You can't be in Security and be a lair.. ok with that said..
9:29 PM gottabme: Again, please consider this Rumor as all our intel and stay grounded. The word on the ground is there is a huge Security Influx..obvioulsy cuz of the bombings but this group is used to guard the Banks and secure outside communication information..provide security.
9:29 PM gottabme: Ok, back.. Let me tell you, when the weekend comes in Iraq, intel is very poor. I do like the Security guys intel but again it is only hearsay and rumor. Basically Sunday is the day I am predicting for an Incountry of Iraq Reval announcement and then watch for the exchanges picking it up and we see some movement Sunday and Monday we exchange.. IMO that is what I am predicting.. if it doesn't come about, it is always just "Another Monday"* *
9:30 PM gottabme: I believe the Rueters issues have been and are being taken care of and center around Securing the system right now. That is why we are seeing some movement on some of the Boards like we say today and earlier this week.
9:30 PM gottabme: They put stuff out there and see if it gets hacked or someone can hack into the system and cause problems. Folks actually get paid for that stuff. Go figure. They also are calling for Sunday/Monday but again, it is rumor but is the most solid intel I have to date. Again, I have heard other rumors and nothing I say comes from another forum.
9:30 PM gottabme: I don't think they had the system installed and tested last monday and it is related to the snafu of another company approaching the CBI directly with another Bid to cut the TBI/Rueters out of the running. That was squashed and it delayed this a bit. From what I hear, they are just testing the system and Iraq should flip the switch...Maliki and Shabibi from the CBI to the TBI Via the Rueters System onto the Forex...Foreign Exchange network and whiz Bam Thank you Mam, we see the movement Monday morning.. IMO with all the intel I have heard. Again, Don't mortgage the Farm Martha, it is all rumor until it happens.
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gottabme: I really hesitate to say anything because I haven't gotten any validation on the intel and the only reason I will say anything is because the source is one of our own whom I trust , family member who is heavily invested and worked for and is connected to a security team in Iraq. He is getting intel from the boyz who are on the ground in Iraq pulling security duty.
9:28 PM gottabme: These boyz have no reason to not be telling the truth period. You can't be in Security and be a lair.. ok with that said..
9:29 PM gottabme: Again, please consider this Rumor as all our intel and stay grounded. The word on the ground is there is a huge Security Influx..obvioulsy cuz of the bombings but this group is used to guard the Banks and secure outside communication information..provide security.
9:29 PM gottabme: Ok, back.. Let me tell you, when the weekend comes in Iraq, intel is very poor. I do like the Security guys intel but again it is only hearsay and rumor. Basically Sunday is the day I am predicting for an Incountry of Iraq Reval announcement and then watch for the exchanges picking it up and we see some movement Sunday and Monday we exchange.. IMO that is what I am predicting.. if it doesn't come about, it is always just "Another Monday"* *
9:30 PM gottabme: I believe the Rueters issues have been and are being taken care of and center around Securing the system right now. That is why we are seeing some movement on some of the Boards like we say today and earlier this week.
9:30 PM gottabme: They put stuff out there and see if it gets hacked or someone can hack into the system and cause problems. Folks actually get paid for that stuff. Go figure. They also are calling for Sunday/Monday but again, it is rumor but is the most solid intel I have to date. Again, I have heard other rumors and nothing I say comes from another forum.
9:30 PM gottabme: I don't think they had the system installed and tested last monday and it is related to the snafu of another company approaching the CBI directly with another Bid to cut the TBI/Rueters out of the running. That was squashed and it delayed this a bit. From what I hear, they are just testing the system and Iraq should flip the switch...Maliki and Shabibi from the CBI to the TBI Via the Rueters System onto the Forex...Foreign Exchange network and whiz Bam Thank you Mam, we see the movement Monday morning.. IMO with all the intel I have heard. Again, Don't mortgage the Farm Martha, it is all rumor until it happens.
Friday, December 11, 2009
IKNOWHEIS POST - One Dinar
Dinar Friends and Colleagues
Several things have caught my attention in the Dinar posts I have been reading over the last week or ten days.
1.Lots of geo-political posturing and deal-making is being hinted at - some with more, some with less feel of validity.
2.A banker has claimed that the only excitement is in the chat rooms - and all the calls to the banks are coming from "chat room people".
3.It seems clear that the few bank people who are talking definitely know about the Iraqi Dinar and its likelihood of RVing.
4.At the internal local bank level, currently all is quiet; few have even hinted at a date or a rate, and many just play dumb.
5.One banker has been quoted as saying that a dinar investment should be viewed as risky, but probable.
6.The various "rates" put forward on the chat lines seem to coalescing in the $3+ range.
7.Most, if not all, local banks do the majority of their currency exchanges through a handful of "Vendor banks".
8.When a major change happens in a rate of exchange the currency "vendors" will (supposedly) know at least a week in advance.
9.One reportedly "senior" banker reports that all is quiet at the Vendor level.
10.Since all is quiet at the vendor level, the RV is at least a week away
My comments on these ten observations are:
•The RV/RI of the Iraqi Dinar will happen.
•It appears to be close.
•Whatever the rate, the benefit will be huge for us and we should already be grateful regardless of the rate.
•The RV/RI is and will be much more a political event than a financial event. On both levels the impact will be huge. One of the effects will may be to hasten the demise of the US dollar. This RV/RI will probably be seen later to have changed the course of history.
•During the lead-up to the actual RV/RI the Vendor banks themselves will be quiet for most of their week grace period.
•Although some of the information on the chat lines is undoubtedly valid, some (if not a lot) of it on the chat lines is probably "disinformation" planted to identify sources of leaked information.
•Whatever appears on the chat lines will have NO influence on the actual process, or the timing of the event.
As I think about this, an interesting thought is occurring to me. Lots of us are aware that the real power in the world is with the bankers, not the politicians. I am wondering if what has really been going on in these last months is a multi-level power struggle. The basic struggle is a desperate battle among politicians to wrest some control away from the bankers, and a desperate determination among the bankers to not give it up, all playing out at multiple levels within nations, among nations, and among institutions like the US Fed, the major international banks, the UN, the IMF, the WB the Paris Club, the GCC etc. This desperate struggle is fueled by the politics and commerce of oil and natural gas in an atmosphere of foreseeable increasing demand foreseeable decreasing supply and a world that is awash in US dollars which are less and less valuable as a world reserve currency or the fossil fuel currency.
If that's the case, the RV/RI will be held up until the most powerful people in the matter of the RV/RI of the Iraqi Dinar are satisfied they've got their best deal. Simply put, this struggle can only keep on going as long as the RV/RI is still pending. Once it has happened, this power struggle is over, and a new one will begin. The real question is, who are the MOST powerful people in relation to the RV/RI of the Iraqi Dinar. And the answer is probably, "nobody really knows, not even the most powerful people since they all have a lot of power and they are all posturing as if they are the most powerful." And in the hearts and minds of all these people are the human limitations of their capacity to process an overload of information and the eternal battle between their own perceptions of good and evil. At some point a key person will say, "let's do it!" and the others will follow, and the RV/RI will happen at all levels within days.
So what can we do? Breath deeply ... but don't hold it! ! ! ... and be patient. Pray for the wisdom of world leaders - all of them, not just the ones you agree with. And more especially, Pray that they will be still and quiet for long enough each day to themselves hear the Wisdom of God.....
May we all be patient and soon blessed with riches that are no longer beyond our imagination, and may we all be still and quiet for long enough each day to ourselves hear the Wisdom of God.
Several things have caught my attention in the Dinar posts I have been reading over the last week or ten days.
1.Lots of geo-political posturing and deal-making is being hinted at - some with more, some with less feel of validity.
2.A banker has claimed that the only excitement is in the chat rooms - and all the calls to the banks are coming from "chat room people".
3.It seems clear that the few bank people who are talking definitely know about the Iraqi Dinar and its likelihood of RVing.
4.At the internal local bank level, currently all is quiet; few have even hinted at a date or a rate, and many just play dumb.
5.One banker has been quoted as saying that a dinar investment should be viewed as risky, but probable.
6.The various "rates" put forward on the chat lines seem to coalescing in the $3+ range.
7.Most, if not all, local banks do the majority of their currency exchanges through a handful of "Vendor banks".
8.When a major change happens in a rate of exchange the currency "vendors" will (supposedly) know at least a week in advance.
9.One reportedly "senior" banker reports that all is quiet at the Vendor level.
10.Since all is quiet at the vendor level, the RV is at least a week away
My comments on these ten observations are:
•The RV/RI of the Iraqi Dinar will happen.
•It appears to be close.
•Whatever the rate, the benefit will be huge for us and we should already be grateful regardless of the rate.
•The RV/RI is and will be much more a political event than a financial event. On both levels the impact will be huge. One of the effects will may be to hasten the demise of the US dollar. This RV/RI will probably be seen later to have changed the course of history.
•During the lead-up to the actual RV/RI the Vendor banks themselves will be quiet for most of their week grace period.
•Although some of the information on the chat lines is undoubtedly valid, some (if not a lot) of it on the chat lines is probably "disinformation" planted to identify sources of leaked information.
•Whatever appears on the chat lines will have NO influence on the actual process, or the timing of the event.
As I think about this, an interesting thought is occurring to me. Lots of us are aware that the real power in the world is with the bankers, not the politicians. I am wondering if what has really been going on in these last months is a multi-level power struggle. The basic struggle is a desperate battle among politicians to wrest some control away from the bankers, and a desperate determination among the bankers to not give it up, all playing out at multiple levels within nations, among nations, and among institutions like the US Fed, the major international banks, the UN, the IMF, the WB the Paris Club, the GCC etc. This desperate struggle is fueled by the politics and commerce of oil and natural gas in an atmosphere of foreseeable increasing demand foreseeable decreasing supply and a world that is awash in US dollars which are less and less valuable as a world reserve currency or the fossil fuel currency.
If that's the case, the RV/RI will be held up until the most powerful people in the matter of the RV/RI of the Iraqi Dinar are satisfied they've got their best deal. Simply put, this struggle can only keep on going as long as the RV/RI is still pending. Once it has happened, this power struggle is over, and a new one will begin. The real question is, who are the MOST powerful people in relation to the RV/RI of the Iraqi Dinar. And the answer is probably, "nobody really knows, not even the most powerful people since they all have a lot of power and they are all posturing as if they are the most powerful." And in the hearts and minds of all these people are the human limitations of their capacity to process an overload of information and the eternal battle between their own perceptions of good and evil. At some point a key person will say, "let's do it!" and the others will follow, and the RV/RI will happen at all levels within days.
So what can we do? Breath deeply ... but don't hold it! ! ! ... and be patient. Pray for the wisdom of world leaders - all of them, not just the ones you agree with. And more especially, Pray that they will be still and quiet for long enough each day to themselves hear the Wisdom of God.....
May we all be patient and soon blessed with riches that are no longer beyond our imagination, and may we all be still and quiet for long enough each day to ourselves hear the Wisdom of God.
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