8-30-2014 Intel Guru Frank26 Once they announce the formation of a full GOI ...Things will happen exceedingly FAST!!
8-30-2014 Newshound Guru tlm724 Article: "Calls for the central ministries to work the new system of payments" Quote: "said Bank to clarify that this system is one of the advanced systems dependent and electronic means of payment and provide speed, accuracy and security in the transfer of money..." with this system and the market price moving downward we can take it...as a sign of compliance in the very near future! the 2% threshold for the IMF is within sight. they must reach that price in order to go forward with the currency reform! 1166 x 2% is around 23 pips so a little further and they and us as well, will be golden...and as a side note this system will allow for full accountability of tariff funds received which we know is part of the WTO. Despite it all Iraq marches on!
8-30-2014 Newshound Guru Blueyesinlevis Anyone holding the triple zero notes will be very happy...but they are NOT going to be exchanging 10 million IQD for new physical Lower Denoms. The release of the smalls are going to be...much less a part of this than we once thought. Certainly only in country...they are not going to be widely available for us. The CBI simply is not going to print a lot of the smalls. They want to go CASHLESS...and this is the golden opportunity to become the most CASHLESS society on the globe. The IMF and PTB love this idea...I am sure...JMHO. [post 2 of 2]
8-30-2014 Newshound Guru Blueyesinlevis Article: "CBI calls for ministries to work the new system of payments" Digital money...smart cards...modern banking...If most citizens are broke....and they all get DIGITAL payments of HCL money...in essence...they will ALL be FORCED to go to the bank and start using their smart cards. Vendeors will be FORCED to accept the smart cards. In one fell swoop...modern, digitial banking will be FORCED upon them. The underground CASH economy will suffer...and the legal, above boards economy will instantly flourish. [post 1 of 2....stay tuned]
8-30-2014 Newshound Guru Chattels Jaafari’s statement said the goal was to form a new government “within the legal timeframe,” but didn’t specify a deadline. While legal mandates aren’t always respected in Iraq, the prime minister by law must form a cabinet within 30 days of his nomination, giving Abadi until Sept. 11 to put together a government. Abadi said last week that the negotiations were positive and that he was eager to “form an inclusive government.” the reality is that the news is always mixed, but on balance there is progress and what you read about failed negotiations are just today's event and part of the posturing and process. i actually consider myself positive and i just try to manage short term expectations to reduce disappointment.
8-30-2014 Newshound Guru Blueyesinlevis Abadi, Hakim, Joubari, Masum... they are all doing it by the book...step by step...line by line...day by day. Love that it is not "Power Sharing" between 2 ego maniacs...but a broad based, constitutional, well designed, specific, detailed, inclusive, apparently binding roadmap. Very encouraging.
8-30-2013 Intel/Newshound Guru tman23 The CBI Board of Directors are the major decision makers in regards to revaluation. If you follow the CBI board you will find many of these decision makers come from Trade Bank...And if you follow Trade Bank you find that JP Morgan is overseeing operations...And if you follow JP Morgan you find that they are directly connected to the UST in regards to currency distribution. The UST has a division called the ESF (exchange stabilization fund). This think tank basically is the architect of world economies in regards to exchange rates etc. If what we are speculating on becoming reality, then you can bet your last dollar the ESF...UST is a large part of making that reality happen.
8-30-2014 Newshound Guru Kaperoni Article: "Central Bank being a set of enhancements to the currency to protect them from fraud" This article above clearly says they want to start releasing the new 10,000 notes by the end of the month (August)... Do you really think some overnight RV is about to happen when they have not even replaced the existing currency in circulation that they just spend millions of dollars reprinting to help strengthen monetary policy within Iraq? Of course not. ...I am a realist and the fact is we must continue to wait for the other pieces to be in place before they can open the banking system to the world.
8-30-2014 Newshound Guru Millionday the huge point with the last two reports we have seen is that abadi has stated that with the announcement of the gov formation comes the economic reform entirely.
8-30-2014 Newshound Guru Chattels [when does government get in place? Is this still delayed?] the constitutional " deadline " was and is September 9/10, depending upon which article you read/believe, there has been no change or delay with such. the PM - designate, the ministers and the ministerial program (government framework, National Paper, etc.) is voted upon by the Parliament all at once...it should be done by the 9th, is my thinking, it seems very important to all that the constitutional deadline be honored at a minimum.
8-30-2014 Newshound Guru Millionday THE BUDGET IS SUPPOSED TO BE APPROVED WITH THE HCL ARTICLE 140 AND THE FEDERATION COUNCIL AT THE SAME TIME ACCORDING TO REPORTS BUT WE HAVE TO WATCH THE ACTION TO SEE WHAT HAPPENS.
8-30-2014 Intel Guru SteveI This was on Iraqi TV and we want to share. To clear up the confusion, here is the latest facts: Two of the ministers are being contested by a representative from Najaf and wants them replaced. The minister of health and the minister of utilities. The President of Parliament is giving them two more days to be replaced. Then on September 2, the official list of ministers will be released to the media and the people. Then on September 3, the Prime Minister and all his ministers will be sworn in. The ministers will officially start their jobs September 7. The budget is supposed to be brought up before Parliament after September 3. It could be September 4th or 5th or any day after that.
8-30-2014 Newshound Guru Tlar Some Ministers may be in dispute but those will be resolved. The platform is a series of pre-agreed solutions to big issues (promises in writing) with known outcomes such as the resolution of the HCL and its agreements and article 140 and its resolution. That will guarantee the Kurds and the Sunni's will get what they want and will support this government. They can't get everything done all at once and some things they can't even start until there is a new COM in place which means a seated government. This agreement in writing is the roadmap that they have all promised to follow. Everyone will sign it once the negotiations are done. Once the agreement is done they will register it with the court. It provides that warm fuzzy for everyone including the CBI and removes the element of trust. It also guaranties that the vote will be in favor of the government of Abadi. If this document is signed sealed and delivered and all parties feel good about it, the CBI will figure the voting in of the government is a slam dunk even if it takes a little more time do to some disqualifications of submitted Ministers. The CBI needs to get going now. [reference Tlar's post 8-29-2014]
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