2-9-2015 Intel Guru TNT Tony [via Adept1] Meetings are done, laws are passed, the budget has been signed off but not made public although they intend to do that shortly...Abadi already told people the economic reforms will go into effect on the12th. Iraq is being told the Qi cards will soon be usable internationally. That was on today’s television with someone from the finance ministry. Even though it didn’t happen over the weekend, the fact that Abadi is talking about it means that it is happening now, not in April or next year. I know that every time we get this close, something else seems to come up, but it really feels like we are just that close. They can activate this at any moment they want to from now on
2-9-2015 Intel Guru DC [via Adept1] Iraq got up to the plate on Friday, then decided they weren’t quite ready with a few things they would like lined up, such as banking laws. They said they needed another few days and the US agreed. They’ll have more meetings and if they are done, this will go through...it’s just the latest delay, and everyone is focused on getting this cleared and done. On Iraqi television they say the completed economic reforms will be done on the 12th which is this Thursday and the Budget as well. There is one report on the Budget being done before then...Let’s see how the meeting goes tonight; if it goes well, this could be as early as tomorrow.
2-9-2015 Newshound/Intel Guru EAGLE 1 IMF WILL BE MAKING A STATEMENT AT UNDISCLOSED LOCATION/TIME...IN REGARDS TO IRAQ AND THEIR CURRENCY. IN THE NEXT 24-36 HRS.
2-9-2015 Newshound Guru Tlar [come payoff time, doesn't Iraq have to honor all the dinars out there, circulating or not. Whoever comes to the bank with dinar is gonna want real money, or am I just flat wrong about that assumption?] Quite simply the answer to your question is no. They only have to cover circulating currency.
2-9-2015 Newshound Guru Millionday [has the budget even been signed yet or reached the president?] THE BUDGET WAS IN ARAMAIC AND HAD THE IMPRINT OF THE PRESIDENT ON THE DOCUMENT BUT NOW THEY ARE HAVING A DISAGREEMENT ABOUT THE PLANS OF CBI AND HOW IT IS WRITTEN SO -- NOT PRINTED IN GAZETTE YET OR SIGNED IT LOOKS LIKE BUT THEN AGAIN THE MEDIA IS CONTRADICTING ONE ANOTHER IN MANY THINGS AT THIS POINT. [Whats the latest on the HCL?] THEY HAVE IT ON THE AGENDA FOR TOMORROW TO COMPLETE WHAT HAS NOT BEEN ADDRESSED AND AGREED FOR FIRST READ.
2-9-2015 Intel Guru MarkZ We are seeing the signs and movement all around us of the impending global currency change but yet it is still not here. Could the reset occur this week? Absolutely! Could it drag weeks longer? Possibly. The truth is that nothing stalled it, the trigger will not be pulled until it is deemed relatively safe to do so.
2-9-2015 Newshound Guru Kaperoni Article: "Approve the recommendation on the application of the customs tariff law on imported goods" WOW! Looks like tariffs are in effect in a few short weeks.
2-9-2015 Intel Guru EXOGEN BUDGET BEING RATIFIED IN JUST HOURS...Quote: "Baghdad Parliamentary Finance Committee revealed, on Monday, that the next few hours will witness the Presidency of the Republic's ratification of the general budget for the year 2015..."
2-9-2015 Intel/Newshound Guru tman23 Has Abadi, Jabouri, or an official of importance come out and said anything negative that the Budget is not geeting done or is being held up...NO...Abadi said that he will launch the economy on February 12...ITS DONE!! The Budget is done... [so, is there any significance to the budget relative to our liquidity event?] I believe so this time around... when we witness contract cuts from 450 billion to 135 billion and then see this as a pattern... it appears that the 3 zeros will begin lifted when the budget opens along with a rate... how they do it is another question all together.
2-9-2015 Intel Guru Mnt Goat Al-Abadi along with the CBI have to make a decision soon on when to RV this currency. I believe this decision has already been made weeks ago and we are now in the final countdown window now that the budget is truly done and the government is fully formed. Can Iraq be fully positioned with all these new laws in time to open and begin spending this 2015 budget? ...a new window of opportunity for an RV is staring us right in the face for this week – and more than ever before! It could not get any better! ...we are literally just waiting for the news of a hand full of new laws to get forwarded to parliament and then voted on by parliament. [post 2 of 2]
2-9-2015 Intel Guru Mnt Goat THEY CAN’T OPEN THE NEW BUDGET WITHOUT ALL THE NEW LAWS VOTED ON BY PARLIAMENT BUT THEY CAN’T SEND THEM TO PARLIAMENT WITH THE FEDERATION COUNCIL PARTICIPATING IN THE REVIEW PROCESS. SINCE THE FEDERATION COUNCIL WAS NOT YET READY WE HAD TO WAIT. SO THIS IS THE SECRET TO UNLOCKING WHY WE ARE WAITING SO LONG TO SEE THE IMPLEMENTATION OF ALL THESE NEW LAWS. Could we be in for a VERY LONG wait for all these new laws, including the 2015 Budget bill, to reviewed by the Federation Council? Absolutely Not! At least this is what I am told by the GOI. They will be racing the clock since I believe the deadline for this voting completion is Feb 12th... that is the deadline for the president to ratify the 2015 Budget Bill and the budget needs these laws in order to support and make legal the allocations contained within it. [post 1 of 2....stay tuned]
2-9-2015 Newshound/Intel Guru BGG I really like where we are at right now - the best (based on real info) position we ever have been.
2-9-2015 Newshound Guru sczin11 IF IT IS NOT GOOD OUT THERE, I DONT KNOW WHEN IT EVER WILL BE...THERE IS SO MUCH HAPPENING, AND THE ONLY THING THAT IS NOT IN THE RACE IS THE DELIVERY OF THE BUDGET... QUITE FRANKLY, I THINK THAT IS JUST PART OF THE SHOW...NON RECEIPT, MEANS NO 15 DAY COUNTDOWN, THEREBY GIVING THE PTB IN IRAQ THE LEEWAY TO PROCEED WITH THE PLAN, AND NOT BE HELD DOWN BY SILLY DEADLINES, AS WE KNOW THE BUDGET IS DONE, AND HAS BEEN FOR A VERY LONG TIME... WHAT MORE NEEDS TO BE SAID... YES, WE WOULD LIKE A DATE... WHO REALLY CARES IN THE LONG RUN... THE KEY IS WE KNOW IT IS HAPPENING, AND HAPPENING NOW IT APPEARS...
2-9-2015 Newshound Guru Tlar In June of 2008, that number was 1.13 to 1 as determined by experts that did a strategic study. By the end of 2009 Forexes started to show the dinar at $1.49 until Shabibi stopped it and reversed it. That means by the end of 2009 the dinar had increased .36 based on the reserves and oil production increases. That was essentially deleting the 3 zeros but by 2009 it had grown. As the years have rolled by we see more oil production with a great future, we see an economy ready to open like a flower and less dinar circulating than in 2008. So please understand the name delete the zeros still applies. It means only that the 3 zeros will be gone. That is the term they are still using today. But IMO it only means that from .86 up it is descriptive of the program, but does not give us any indication of the new rate. Anything above .86, the term deleting the zeros still applies. So at $3 + the zeros are still deleted so the description of deleting the zeros tells us very little about the potential for the rate. Hang in folks this is getting exciting and IMO is almost over. [post 2 of 2]
2-9-2015 Newshound Guru Tlar We know they have not published nor have they opened the budget. So every number we see until then, will be stated in today's value (1166). We also know that the ATM's are being readied for operation...We also know that the government and all involved ministries have been meeting with the CBI and the CBI appears to be making all the proper moves coordinating with the independent banks to modernize both their systems and the functionality. Both government banks are being privatized and restructured again. Interesting timing? ...Iraq...admitted that they can back all the dinar ever let out 1.5 times, even the dinar you and I hold which is not circulating, by itself is amazing. I think they are not telling the whole truth on their numbers, neither the reserves nor the circulating currency. Their are many smart people in dinarland. If they ever did disclose these figures, many would be able to calculate a possible RV number. [post 1 of 2....stay tuned]
2-9-2015 Newshound Guru My Ladies Article quote: "...Rafidain Bank, on Sunday that the Arab countries will be the first stop for the beneficiaries of the smart card, stressing that the use of the card will be very soon." WELL WHEN EVER IRAQ SAYS VERY SOON THAT IS GOOD NEWS. THEY...SAID THEY ARE ACTIVATING THE QI CARDS INTERNATIONALLY AND THERE ARE PEOPLE FROM THE RAFIDAIN BANK READY TO TURN ON THE SOFTWARE TO ALLOW THE CARDS TO BE INTERNATIONAL….THEY ARE SO READY. THEY DID A TRIAL 2 WEEKS BACK WITH MASTER CARD AND I GUESS IT WAS A SUCCESS BECAUSE THEY ARE NOW GOING TO TRY THE QI CARDS IN THE NEIGHBORING ARAB STATES…WOW…GREAT GREAT NEWS.
2-9-2015 Newshound Guru American Contractor The Iraqi Parliament is continuing with their economic conference meetings in Baghdad. What you are going to see is the private banking institutions and the Iraqi government working together to facilitate government projects. The Iraqi government will remove the restrictions it had imposed on the private banks. The Private Banking had restrictions due to lack of capital and unable to fund multi-million dollar projects. Since that time the banks have raised their capital to the Central Bank requirements and now, are able to compete with the two state banks for government projects. Not all private banks have met the capital requirements, and they will not be able to participate in this program. The Central Bank has announced that this is not the time to delete the zeros from the Iraq currency, stating that lack of security and economic stability in the country. The State-owned Rafidain Bank has announced the first ever smart card used by Iraqi citizens who are living abroad and are collecting pensions and or subsidies. The Central Bank reserves have decreased, and this is another reason the CBI has limited the sales of the dollar into the market. The CBI is trying to protect the reserves.
2-9-2015 Newshound/Intel Guru BGG Article quote: "Approve the recommendation on the application of the customs tariff law on imported goods... that this decision is implemented, starting from Date of 03/01/2015." [Several...wondered about the effect of such and whether the event itself foreshadowed a rate change? and/or that the very existence of such a tax " required " a greater value to the dinar?] ...tarriffs without value are pretty meaningless...from a functional perspective.
2-9-2015 Newshound Guru Enorrste I agree 100% with KAP [Guru Kaperoni] on this one. There not only won't be an RV; there cannot be an RV. with 42 trillion dinars in circulation, an RV at only $1 per dinar would make the currency in circulation worth more than 80% of the country's currencies in the world, combined. It just is not possible to RV without first reducing the money supply. Furthermore, you cannot reduce the money supply unless you gradually raise the value of the dinar. It is a process that the CBI has stated will take up to 4 years.
2-9-2015 Newshound Guru Kaperoni The statement by Abadi the other day referring to 5 billion dinar and 440 million dollars was not referencing an exchange rate. He was simply stating an allocation of money..in other words..of the 5 billion, 440 million would be going towards..rebuilding. It is not appropriate nor his business to discuss monetary policy, exchange rates, etc. To many of you wear a RV hat looking for anything, any article, any video that you can interpret to confirm some kind of RV...I will say it again..there is no chance that an overnight RV can happen. None. Zero. [post 2 of 2]
2-9-2015 Newshound Guru Kaperoni ...there is no RV or RI. ...its going to be a gradual appreciation over several years. The IMF is a professional world class organization. They do not make things up. It is clear as day that the plan is to gradually raise the dinar as investment comes into Iraq. This is the only process that makes sense with all the other parts. Believe me...I would love to talk RV, RI or some other solution..but it is not happening. You cannot compare anything in Iraq to Kuwait. [post 1 of 2....stay tuned]
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