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1-28-2015 Intel/Newshound Guru Poppy3 MANEUVERS TAKING PLACE FURTHER CLEARING THE WAY FOR A NEW RATE...AS ALL CAN PLAINLY SEE THE NEWS IS AND HAS BEEN FOR A MONTH ALL DIRECTED AT IRAQ FINANCE AND STABILIZING THEIR ECONOMY TO JOIN THE GLOBAL MARKETS AND HELP 20 PLUS OTHER COUNTRIES FURTHER STABILIZE AS WELL. THEY IN THE FUTURE WILL BE THE FINANCIAL MECCA OF THE WORLD. THATS WHY I INVESTED 11 YEARS AGO AND THAT FACT HAS NEVER CHANGED.
1-28-2015 Newshound Guru Mailman17 EVERYONE FORGETS IRAQS PAST...THINGS THAT WERE BROUGHT UP IN THE PAST BUT HAVE MAJOR IMPLICATIONS TO IRAQS FUTURE. PHOSPHORUS MINES, THE 3-D GEOLOGICAL SURVEY ON IRAQS OIL NOT EVEN TAPPED (WHICH BY THE WAY IS DOUBLE WHAT THEY HAVE IN RESERVES RIGHT NOW) THEIR NATURAL GAS FUTURE. I BRING THIS UP BECAUSE IT IS FORGOTTEN...BUT PLAYS INTO IRAQS FUTURE AS THE LEADING ARAB NATION IN THE FUTURE. THEY ARE LOADED...AND THEY WILL BURST OUT WITH A FLURY. THEIR REVENUE OUTSIDE OF OIL ONLY BACKS THEIR CURRENCY EVEN MORE. BELIEVE ME THAT THIS WAS AND WAS ALWAYS CALCULATED. THEIR MAIN OBSTACLE WAS GOVT...ESPECIALLY MALIKI...HES GONE. LET THE FIREWORKS BEGIN...JMO
1-28-2015 Newshound Guru Shredd the dinar has appreciated via a managed float without any Article VIII compliance so, one could assume a continued move of the dinar rate, managed by the CBI, could continue but regarding moving to a free float that is market driven, that is the part others are saying is contingent on compliance and it makes no difference to me the method...we win either way.
1-28-2015 Newshound Guru sczin11 IT APPEARS WHAT WAS DISCUSSED IN THE UN-ANNOUNCED MEETING THIS PAST SUNDAY, HAS BEEN MADE OFFICIAL...THE CBI IS GOING TO PROVIDE MONEY TO THEIR LOCAL BANKS, IN ORDER TO CREATE LOANS FOR THE PRIVATE SECTORS, JOBS FOR MORE IRAQI CITIZENS, AND IS GOING TO BUY BACK BONDS TO SAVE THE GOVERNMENT ON INTEREST PAYMENTS, THUS AIDING IN THE "LIQUIDITY" ISSUES...
1-27-2015 Newshound Guru Aggiedad77 [will the CBI have to reveal the rate to the world when they do actually do the things you speak of or can they just keep on hiding it...?] [reference Frank26 post below, 1-27-2015] It is our opinion that when the CBI implements these things they talk of...they will have had to release a rate...to trade on the secondary market requires that a country have a recognizable currency...that to me is a key thing at this point...We just don't know when it will occur...hopefully Thursday...in the meantime we continue to watch what they do and say.
1-27-2015 Intel Guru Frank26 IOO…we believe the CBI is TALKING and talking loudly. The Finance Committee has been crowing all day that they are soon to be ready, they worked through the night to have the budget prepared to present to the President of Parliament...done. This means they should be voting on the budget on Thursday during their normal session starting at 1:00 pm Iraqi time…but there is nothing in stone yet that says we will see the budget on Thursday. You will see or read that the budget has the 1166 rate in it, but that matters not….what matters is what the CBI is saying and what they have intentions of doing….what we still look for is when the CBI will work their magic...the CBI is in charge of this event, they work in conjunction with the GOI most recently, but the CBI is calling the shots...we don’t know the date or the rate…Just be ever so vigilant to what the CBI is doing and how they go about their business. [post 2 of 2]
1-27-2015 Intel Guru Frank26 Article: "CBI supports commercial banks and buy treasury bonds" The article talks about the CBI doing three things: 1. They will be making 5 trillion dinars available to commercial banks for the purposes of loans…what kind of loans…loans for agricultural, industrial, and home loan/building uses. 2. They spoke of offering up to 50% of commercial bank reserves, up to 6 trillion dinars using this amount whatever it settles out to be to finance public budgeting... 3. And lastly, a buy-back of 5 trillion dinar in form of treasury bonds…this is to be done on the secondary market, meaning they must be doing this with a recognizable currency not something at the program rate….this would be a transaction with the world! [post 1 of 2....stay tuned]
1-27-2015 Newshound Guru Enorrste Article quote: "end the central bank to formulate a preliminary draft of the new law and amend the Banking Act, which will work together with the amendment influential investment law in order to boost economic development in the country..." We must all recall that the "plan" has essentially been in place since 2007. It was only due to Maliki's intransigence that the "plan" was not put into place. This means that the CBI is "ready" to roll all of this stuff out at a moment's notice. Ironically, the drop in oil prices appears to be the catalyst that is forcing the rollout of the "plan" as soon as possible. Abadi knows that the only way to save his country economically is to broaden the economic base, and that can only be accomplished by enacting the new banking law (which this article indicates is now in the works), liberalizing the exchange (our investment), and bringing in new money from outside to effect the change and solve the financial crisis in the country.
1-27-2015 Newshound Guru Kaperoni Article quote: "The CBI has decided to take the necessary measures to boost liquidity in the banking system and simplify the sale of foreign currency procedures in order to facilitate the stability of the market and exchange rate measures." This is sorta a big deal...In the past the CBI has been reluctant to fully liberalize the sale of foreign currencies because of the currency smuggled or leaving Iraq. If this continued it could reduce the CBI reserves. Therefore for them to be doing so, they either have a handle on where the money is going or being used or they have curbed the problem enough to try to fully comply with the IMF. Either way, and for whatever the reasons, its good news for us. The sooner they are in compliance, the sooner they can exit Article XIV and move to Article VIII. I also was looking for the "official" press release confirming they were taking these measure and today that was posted on the CBI site. We should see some changes in the Market Rate in short order now.
1-27-2015 Intel/Newshound Guru tman23 Jabouri said A CUSTOMIZED PARLIAMENT SESSION will be held Thursday...They will vote on the budget...But to customize may indicate that a number of other laws are going to be presented for vote...LIKE ALL AT ONE TIME AND BEFORE FEB 1st.
1-27-2015 Newshound Guru Shredd Article quote: "The central bank also decided to buy Treasury bonds from the secondary market, where the central bank will buy about 5 trillion dinars in the first phase of these bonds," adding that "the above procedures for upholding the private reserves of the Central Bank." The CBI is participating in this process to stimulate investment in the secondary market, to the public sector and at the same time benefiting from this favorable process to uphold its reserves. By the way, this of course, will substantially support adding strength to the dinar. it's all good...so much proof that the central bank and the GOI are working together to now bring economic growth to the country and that translates to Iraq getting out of a dual currency situation. IMO, this is also proof that both entities know the dinar is stronger than the dollar to be working on making this move...
1-27-2015 Newshound Guru Enorrste Article quote: "Revealed the appearance of Mohammed Saleh economic adviser to Prime Minister Haider al-Abadi for near immediate reform policies in the country, and Saleh said that there are reformist policies going to go out soon, adding that those policies will serve the Iraqi people, despite the circumstances through which the country..." What is especially appealing about this announcement is that they are moving forward "despite the circumstances" having to do, presumably, with the security situation. ..."reformist policies" must refer to economic policy and in particular to the CBI role in changing the exchange rate regime. Since it is Saleh who is making this announcement this must have to do with the CBI rather than the COM. Saleh is the "go between" between the GOI (Abadi) and the CBI. Therefore, I feel confident that this article is referring to the change in the exchange rate regime. It is great news indeed. Now all we need to know is the meaning of "soon." LOL
1-27-2015 Intel/Newshound Guru Poppy3 multiple CHARGES AGAINST MALIKI, THE FIRST OF 25 PLUS CHARGES BEING FILED AGAINST HIM INCLUDING MANY MAJOR CHARGES OF FRAUD, THEFT AND EVEN MURDER. THIS INFO FROM SEVERAL SOURCES. HIS GOOSE WILL BE COOKED VERY SOON. THIS KEEPS HIS NOSE OUT OF ECONOMIC REFORM. ABADI'S PEOPLE HAVE OUT MANEUVERED HIM AND COMPLETELY SURROUNDED HIM AT EVERY JUNCTURE SINCE THEY HAVE BEEN PUT IN POSITION TO DO SO. IT HAS TAKEN MORE TIME THAN WAS THOUGHT BUT HAS BEEN DONE IN THE MOST EFFECTIVE WAY TO MAKE SURE HE IS COMPLETELY OUT OF THE WAY.
1-27-2015 Newshound Guru Aggiedad77 This is my opinion...I believe they are communicating that they (CBI) knows what the rate should be....and through their reserves, currency, but mostly the hard reserves they have gold and such...they can cover things out to 1.5 times...we've seen this statement from them on several different occasions and to me it is very positive on their part to be saying this...They know they have solid reserves...the world knows they have solid reserves...just keep watching for who is truly in control...the CBI wants to talk.
1-27-2015 Newshound Guru Mailman17 IRAQ IS A GOLDMINE. GOLDMINES START STRONG AND BUILD...IMO...DEDOLLARIZATION IS THE KEY...AND THE IRAQIS MUST HAVE FAITH IN THEIR OWN CURRENCY FROM DAY ONE...AND SEEING AS THEIR ECONOMY IS BASED ON THE VALUE OF THINGS PURCHASED AGAINST THE VALUE OF THE DOLLAR...I TRULY SEE THEM COMING OUT LIKE SHABS SAID...ON PAR OR A LITTLE BETTER...STAY FIXED...THEN OPEN THE MARKET DOWN THE ROAD WHEN STABLE...THE PRINT TELLS US WE ARE CLOSE, REAL CLOSE...AND IRAQ IS A LOT BETTER THAN MOST THINK IN REGARDS TO SECURITY...JMO. [Post 2 of 2]
1-27-2015 Newshound Guru Mailman17 WE HAVE SEEN IRAQ TAKE GREAT STRIDES TO NOT ONLY GET THEIR GOVT IN CHECK BUT THEIR ECONOMY READY FOR GLOBAL RECOGNITION. SHABS HAS STATED MORE THAN ONCE IN THE PAST THAT THE CBI'S GOAL WHEN ENTERING A MARKET ECONOMY WAS TO BE ON PAR...ON PAR WITH THE DOLLAR. IRAQS ECONOMY HAS BEEN LINKED TO THE DOLLARS VALUE SINCE 2003. THE U.S. DOLLAR WAS USED MORE IN TRANSACTIONS THEN THEIR OWN DINAR...DAILY. THEY HAVE ENOUGH RESERVES BACKED BY FRACTIONAL BANKING (15-1) (NOT 10-1 AS SOMEONE ELSE STATED) TO ATTAIN A 1-1. WITH A 4MBD OUTPUT, MOST LIKELY TO FAR SURPASS THAT IN THE NEXT FEW YEARS NOT TO MENTION THE OTHER RESOURCES SUCH AS NATURAL GAS AND PHOSPHORUS. YES, PHOSPHORUS...THEY HAVE ENOUGH TO BRING THE WORLDS RESERVE BACK TO 100% AS IT IS USED IN A LOT OF THINGS LIKE STEEL AND MEDICINE...ECT. [post 1 of 2....stay tuned]
1-27-2015 Newshound Guru sczin11 I STILL AM A BELIEVER THAT THE BUDGET NEEDS THE RV TO BE EXECUTED THE WAY THEY INTEND IT TO BE...THE REVERSE TO ME IS LESS SIGNIFICANT, MEANING RV DOESNT NEED BUDGET...
1-27-2015 Newshound Guru Chattels IF THE BUDGET ARRIVES AT PARLIAMENT TOMORROW THE NEWS SAYS WE MAY HAVE A VOTE, BUT IF NOT THEN MAYBE NOT UNTIL NEXT WEEK. I AM BEGINNING TO ASSIGN GREATER SIGNIFICANCE TO THIS BUDGET THAN YEARS PAST. INTERESTINGLY ENOUGH THERE WAS MENTION OF THE IMPORTANCE OF THE BUDGET IN DISCUSSIONS ON NATIONAL RECONCILIATION. CERTAINLY IT IS A "HUGE" BUDGET/ISSUE FOR THE KURDS, AND I DO NOT USE THE WORD "HUGE" LOOSELY. IT MAY NOT "TRIGGER" OUR EVENT, BUT OUR EVENT MAY NOT PROCEED WITHOUT IT.
1-27-2015 Newshound Guru sczin11 RE: CBI, MAJOR DETAILS COMING IN MANY VERSIONS, OF THE RELEASE TODAY ON THEIR WEBSITE, WHICH IS BASICALLY THE FINALIZATION OF THE UNANNOUNCED MEETING THEY HAD ON SUNDAY...THEY ARE TAKING CHARGE, AND MY MAJOR QUESTION IS, WHO IS RUNNING THE SHOW? I FIND IT VERY UNLIKELY, KEYWORDS (LOL), ALI MOSHIN ISHMAEL IS MAKING THIS HAPPEN...JMHO
1-27-2015 Intel/Newshound Guru Poppy3 NEWS IS FULL OF SOLID GREAT NEWS...WE WILL BE SINGING WE ARE IN THE MONEY ANYTIME NOW.
1-27-2015 Newshound Guru Millionday THEY ARE EXPECTED TO VOTE ON BUDGET ON THURSDAY "...the parliamentary Finance Committee announced today that the parliament session next Thursday will vote on the budget bill..." THIS IS ANOTHER STATEMENT SAYING THURSDAY IS BUDGET VOTE DAY. THE HCL IS GOING ALONG VERY QUICK FINALLY -- I REMEMBER A TIME THEY THOUGHT IT WAS DONE --- THE NEXT SESSION MAY HAVE THE HCL WITH ITS AGENDA. [when is there next session...Thursday?] YES I BELIEVE IT IS BUT THEY HAVE STEPPED UP THEIR SESSIONS SO IT COULD BE SOONER...
1-27-2015 Newshound Guru Aggiedad77 Article: "Will approve the financial budget for 2015 on Thursday" With optimistic expectations some are saying the budget will be approved on Thursday....the deficit appears to have been reduced to 21% from what they are also saying.....can't wait to see what this will bring.
1-27-2015 Newshound Guru Mailman17 ANYONE WHO THINKS IRAQ WILL ANNOUNCE THEIR CURRENCY TO THE WORLD IN AN OPEN MARKET AND LEAVE IT AT 1166 HAS A NUT LOOSE. THAT WOULD BE A SLAP IN THE FACE TO THE CBI, IMO. WHEN THEY COME OUT...THEY WILL COME OUT STRONG. OVER A 1-1 GUARANTEES DE-DOLLARIZATION WITHOUT STICKER SHOCKING THE LOCALS. A FLOAT DOES NOT DE-DOLLARIZE...PERIOD. IF THEY WANT TO GO TO A FIXED AND MANAGED RATE TILL THINGS SETTLE...THEN LET THE DINAR BE MARKET DRIVEN...FINE...THATS SOUNDS MORE LIKE A PLAN THEY CAN MAKE ADJUSTMENTS WITH DAY TO DAY...EITHER WAY THE PRINT TELLS US THEY ARE READY TO MOVE AND IT LOOKS LIKE BY FEB 1 COULD BE OUR WINDOW. AS ALWAYS, JMO.
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1-26-2015 Newshound Guru sczin11 THE FACT IS...IT CAN HAPPEN AT ANY TIME...IT IS IN THE PROCESS, AND GOING ON... CAN IT GO PAST WEDNESDAY, OF COURSE ...AS LONG AS THE NEWS RELEASES CONTINUE IN A POSITIVE WAY, AND THERE ARE NO CURVE BALLS THAT SHOW UP....WE ARE IN THE RIGHT PLACE! JMHO.
1-26-2015 Newshound Guru Aggiedad77 Article: "Parliamentary Energy reveal an alternative draft oil and gas law of former Law" The Council of Ministers is currently working on a draft of an alternative oil and gas law....one that is away from the original draft which they say was full of disagreement and problems...in typical Iraqi rhetoric they are saying the new draft will be presented to Parliament in coming sessions...soon...we shall see...maybe it will get ignited later this week if the budget gets passed and is out of the way.
1-26-2015 Newshound Guru Tlar Now with the CBI's backing and support, the Abadi government should have no problem raising the funds necessary to proceed. IMO keywords is showing he is on board with this move and ready to go to the wall for the Abadi government. Another good sign IMO we are very close. One more thought. Kuwait postponed their payments in 2015 and Egypt just relaxed their debt for oil shares. Abadi is truly clearing the way for Iraq to come out of fog in 2015 and quickly participate in a successful 2016. The pass he just made, visiting all the countries he just visited, IMO he was selling oil attempting to gain new markets and increase existing markets, and making sure that those countries were on board to shortly accept the dinar in trade. It is of benefit to all their trading partners to now accept the dinar, and shortly they will. Abadi is a very smart guy. [post 2 of 2]
1-26-2015 Newshound Guru Tlar Article quote: "decided CBI, take the necessary measures to boost liquidity measures in the banking system and the simplification of foreign currency sale in order to facilitate the stability of the market and exchange rate measures." The CBI just paved the way for the government to implement all their new programs by this move. Between the 2 million loan from the IMF and the CBI backing the government by financing the debt, the government is now free to move. The CBI announced that they have 1.5 times in reserves for all the dinar out covering every dinar 1.5 times. That is much more than they need to back their currency especially circulating currency. It's obvious to me Keywords is on onboard and trying to help the government achieve a successful transition to a market economy or why do this? You only have to ask yourself this question. Would the bank under Shabibi, or Turki loan money or back government instruments prior to this government? The answer has to be a firm no. Both stated they would not loan money to the government. [post 1 of 2....stay tuned]
1-26-2015 Intel Guru DC [via FlPatriot59] Everything is still within the window and ready. Iraq is finalizing their checks. The USA is in a wonderful state and it's "let's go." Everybody got back in town and more paper work was signed. Parliament announced via TV they are ready for the economic reforms "like the CBI." My understanding is there were quite a few meetings yesterday and teleconferences this morning. Those all came back with green light. This is what we are receiving, but things can change. But my expectation is that it won't. Rates are still on the cards are 3.58. Still will be in the mid-3's. Everything is beautifully lined up...
1-26-2015 Newshound Guru Enorrste ...within the next 30 to 60 days we will see the beginning of the rise in the value of the dinar. I don't expect a major announcement, however. Instead, I believe the street rate will come down to the official rate and then pass it, at which time the CBI will either "ratchet" the official rate on occasion to keep pace with the rise in the street rate value, or, more likely, make an official change in the exchange rate regime to link the street rate and official rate, thereby initiating the float. After that, some months probably, they will move to Article VIII. At that point the investment will substantially increase into Iraq, even beyond whatever Abadi is able to get started from last weekend's conference, since Iraq will be playing in the 'big boy" ballpark under the same rules as the rest of the world. I am quite optimistic, in case you did not notice!
1-26-2015 Newshound Guru Chattels "Speaker: Parliament to vote on 2015 budget law draft on Thursday session Monday, 26 January 2015 15:52" "Baghdad (AIN) –The Speaker of the Iraqi Parliament Salim al-Jubouri assured on Monday that next Thursday session will witness voting on 2015 federal budget law draft." now the foregoing sounds "official" and it is to be on the agenda!
1-26-2015 Intel Guru Jester THEY ARE TRYING TO MAKE THE OIL CREDITS WORTH LESS TO DELAY THINGS... MY OPINION...THEY ARE WORTH WHAT THEY ARE WORTH... ABOUT $30-32 PER BARREL... NOW AND FOREVER...[Does it really matter what the price of oil is in the long run. It's been overinflated for years.] WELL EVERYTHING DEPENDS ON WHAT SOMETHING IS WORTH... YOU BETTER HOPE IT DOES... BECAUSE THEY WILL NOT LIKE TO HAVE YOUR DINAR IF THE OIL CREDITS ARE WORTHLESS...I HOPE THAT IS CLEAR ENOUGH... THEY DO NOT HAVE ENOUGH MONEY TO CASH OUT EVERYONE WITH DINAR WITH THE MONEY THEY HAVE...ISN'T POSSIBLE... SO UNLESS THE OIL CREDITS ARE UTILIZED FOR FUTURE WORTH THEN THIS SCENARIO IS OVER AND WE SHOULD ALL JUST GO HOME...IF THE OIL CREDIT SCENARIO GOES FUBAR WE ARE SCREWED...
1-26-2015 Newshound Guru Aggiedad77 looks like the start of a bright week ahead for a number of issues...maybe the primary focus this week will be the 2015 budget...it appears poised to tee up for a vote on Thursday.....Maliki's name is back in the news again...and along with his name comes the words corruption and deceit.
1-26-2015 Intel/Newshound Guru tman23 What I have been seeing is 50% cuts...one Ministry went from 450 billion to 1.350...so we have seen as much on an average of 3.2 in cuts...The estimates are 58 billion in oil revenue for 2015 at 4 million barrels per day...They have been playing with the numbers but past numbers figured out to balance the budget would require around 3.40 rate... REMEMBER...they get paid in petro dollars so the deficit can be multiplied by the rate for purchasing power.
1-26-2015 Newshound Guru Chattels the budget is day by day so there is really no delay, it just has not gotten done yet. [I saw in the Forum News that it is Thursday...] there is " talk " of Thursday, but my sense is that it really is " ASAP".
1-26-2015 Newshound Guru tlm724 Article quote: "Mr. Minister of Planning Dr Salman Jumaili ministry announced the completion of an economic plan for the years 2015-2018 in light of the government program" tells us 1. they know what they have to do 2. they know how to do it and 3. they know what funds they have to implement it 4. this is the shift to the free market economy 5. this is why there are changes going on at the CBI also. Abadi developed the plan the MOP followed up and got it done! Amazing progress, I am very excited! [finally the timing is looking good for all of us.] I concur...
1-26-2015 Intel/Newshound Guru Poppy3 TWO OF MY SOURCES ARE STILL SAYING WE SEE A NEW RATE NO LATER THAN FEB 1. THINGS ARE SOUNDING LIKE THEY ARE GOING TO BE DEAD ON THE TARGET.
1-26-2015 Newshound Guru sczin11 THE CBI MET TODAY [SUNDAY], AND ANNOUNCED TO THE WORLD THEY ARE READY TO SUPPORT THE DINAR AND ARE COMPLYING WITH INTL REQUIREMENTS, AKA CLEANING UP THEIR CORRUPTION, WILL BE A WATCHDOG, AND ALL MONIES ARE SAFE WITH US... LOOKING AT WHAT HAS TRANSPIRED OVER THE LAST WEEK PLUS, ESPECIALLY A FEW DAYS AGO WITH MINISTERS OF FINANCE, OIL , PLANNING, PRIME MINISTER AND CBI IN SAME ROOM...WHEN HAS THAT HAPPENED IN THE PAST...ABADI SPEAKING IN DAVOS, MONEY TRANSFER COMPANIES BEGINNING TO TRADE ON ISX, BTW, 3 ARE SCHEDULED 1ST WEEK IN FEB...AND NOW THIS TODAY.
1-25-2015 Intel Guru Mnt Goat Iraq announced on Saturday they would have the final budget, with any corrections, to the council of representatives (parliament) by Tuesday 1/27 and that parliament is expected to hold the final vote on Wednesday 1/28. ... follow the 2015 budget final voting session. From this you will know how close we are to the RV. Does Iraq technically need the RV to open their budget and spend it? ...NO! However they would like to align the budget with many of their new laws that mandate and legalize the spending of the budget money. This is why I am now hearing too that there is a very high probability that Feb 1st will not come and go without an RV. [post 2 of 2]
1-25-2015 Intel Guru Mnt Goat I am bringing you very good news and very optimistic news...I am now hearing from all channels of my sources from the CBI, IMF and from my contacts in the USA. They tell me now the RV is strictly in the hands of the Iraq government and the CBI is simply waiting for the final go –ahead from them. All agreements have been signed and Iraq has stated that they want to RV to happen on their time schedule and not be forced into a date. The agreement contains a window from yesterday to Jan 31st. There is also a debate about the rate but I am hearing they have settled this now too. [post 1 of 2....stay tuned]
1-25-2015 Intel Guru TerryK TALKED TO A FEW SOURCES LAST NIGHT AND THIS AM. THEY ARE ALL ON THE SAME PAGE THAT THIS IS OUR WEEK. BUDGET IS TO BE POSTED EITHER TONIGHT OR TOMORROW IN THE PAPER. ARTICLES BEEN READING INDICATE THIS IS OUR WEEK...ALL SOURCES HAVE INDICATED THIS IS THE WEEK SO I WOULD SAY TUE NIGHT WED MORNING WHEN THE BANKING SYSTEMS ALL SYNC. TWO OF MY SOURCES...WHEN I CHATTED WITH THEM THIS MORNING THEY INDICATED THAT IRAQ IS MOVING FORWARD...SO THEY WERE BOTH PRETTY PUMPED. ACCORDING TO WHAT I'M BEING TOLD THIS IS IT.
1-25-2015 Intel/Newshound Guru Poppy3 I THINK THAT...ALL BANKING LAWS MUST BE IMPLEMENTED BUT FROM ALL POSTED IN INK NEWS THEY WILL ALL BE DONE TOGETHER AT ONE TIME. THE REASON FOR THAT IS SO MANY OF THEM DEPEND ON THE OTHER THEY MUST IMPLEMENT THEM ALL TOGETHER. WHAT MANY OF US INVESTORS HAVE NEVER UNDERSTOOD THAT ALL THESE LAWS NEED ONE ANOTHER TO HAVE ANY SUBSTANCE OF POSSIBLE ENFORCEMENT. I THINK...WE ARE SETTING ON TOP OF A POWDER KEG READY TO EXPLODE WITH BUDGET, LAWS, RATE, ETC. NOT NECESSARILY IN THAT ORDER BUT WE ARE THERE UNLESS SOMETHING REALLY DRASTIC HAPPENS FIRST.
1-25-2015 Newshound Guru Stryker [When will the budget get approved so we can see it take place?] IMO, it will be approved this week...
1-25-2015 Newshound Guru Aggiedad77 Article: "Parliament to end the first three laws of reading" More reading on laws by Parliament yesterday... meanwhile they did nothing on the budget...they do recognize the need to get the budget vote sped up which is a good thing...I'm still looking for completion by the end of January...depends on who you talk with in the Finance Committee as to whether you believe they are actually done with the budget and ready for a vote....look for more by Wednesday.
1-25-2015 Newshound Guru sczin11 *** BREAKING NEWS *** JUST RELEASED...12:05 PM EST SUNDAY JANUARY 25, 2015 "Member of the Finance Committee: 2015 budget will be approved next Thursday".
1-25-2015 Newshound Guru MyLadies I THINK WHEN YOU TAKE THE GLOBAL CORRECTIONS THAT ARE TAKING PLACE, THE STRIFE IRAQ IS FACING WITH OUT A CURRENCY, THE MESSAGE ABADI SEEMS TO BE SENDING TO DUKE AND DUKE AND THE REASONING FOR THE JOB BEHIND THE DINAR I HAVE TO CONTINUE TO SAY WE ARE SO VERY CLOSE...STAY ALERT FOR THE SIGNALS....VERY VERY VERY SOON I THINK WE WILL BE OFF THIS RIDE AND ON TO BIGGER BETTER THINGS.
1-25-2015 Newshound Guru Millionday THERE WAS A HUGE ECONOMIC FORUM IN IRAQ TODAY [SATURDAY] THAT WAS TO ACTIVATE THE PRIVATE SECTOR AND THE LAWS PERTAINING...APPLICATION OF ALL OF THESE LAWS INCLUDING THE HCL...ALL AT THE SAME TIME. THEY NEED TO MOVE FUNDS IN AND OUT OF IRAQ FOR THIS TO ALL WORK SO THEY ARE FACILITATING THAT. IN ORDER TO MOVE FUNDS IN SIDE AND OUT AND FACILITATE THAT -- IT HAS TO BE INTERNATIONALLY RECOGNIZED.
1-25-2015 Newshound Guru tlm724 Iraq has control of their destiny now, no more restrictions or sanctions, they have a mostly unified GOI and strong leaders blazing the trail. They are applying the monetary reform and have a new CBI Law and the Banking law plus the Investment Law amendments ready for parliament. there are several factors confirms the possibility of the high value of the dinar against the dollar...the most prominent is the existence of a great desire for investors Foreigners buying the Iraqi dinar. I am sure there are way more entities buying dinar than just us lil investors...countries buying it for the foreign reserves, large investors etc. the fact that there is a "great desire" is very encouraging because remember supply and demand helps raise the value as well...in addition to having an excellent cash reserve, which covers the local currency...plenty of money to cover all the dinar out by 150 % ...there is no reason why the CBI should not let the dinar loose, get it off the programed rate...
1-25-2015 Newshound Guru Aggiedad77 Article: "Decision: Parliament will not shut down this week, but after the adoption of the budget" ...encouraging news it is...they will not take weekend breaks until the budget has been voted on...well get 'er done then...maybe Wednesday or sooner...
1-25-2015 Intel/Newshound Guru Poppy3 THE NEW RATE IS VERY NEAR. THE RATE HAS TO BE ABOVE THE USD IN VALUE AND MY OPINION THE LOWEST WOULD BE BETWEEN $1.25 TO $1.50 BUT I REALLY AND ALWAYS HAVE THOUGHT THEY WILL TAKE THE JUMP TO $3.00 PLUS TO HELP QUALIFY FOR ALL THEIR NEW LOANS, PAY BILLS, AND SUPPORT THEIR BUDGET. ANYTHING LESS WILL MAKE IT TAKE YEARS MORE TO RECOVER AND DEVELOP MUCH LESS REBUILD THEIR INFRASTRUCTURE.
1-25-2015 Intel/Newshound Guru tman23 AT SOME POINT IRAQ WILL HAVE TO MAKE THE DECISION ON THEIR CURRENCY, I AM OF THE OPINION THE DECISION HAS BEEN MADE AND NEXT WEEK WILL BE MOST REVEALING... The Budget will be voted this coming week and expect to see the real fireworks on or before 1/28.
1-25-2015 Newshound Guru Millionday [I am extremely excited but would be more so if that post came from the CBI.] THE REASON I AM EXCITED IS TWO FOLD -- ONE THEY ARE OPENLY TELLING THEY ARE GOING TO THE GLOBAL MARKET AND TWO -- THEY ANNOUNCED THAT THE GOV IS READY AND THAT CAME FROM THE GOV --- CBI HAS STATED A LONG TIME AGO THEY ARE READY IN OPEN ANNOUNCEMENT. Quote: "Revealed the appearance of Mohammed Saleh adviser to Prime Minister Haider al-Abadi Economic Affairs proximity of key economic laws contribute to the recovery of the Iraqi market and investment opportunities." NOW WE ARE HEARING WHAT FROM SALEH? HE TOO IS STATING IN OPEN THAT THEY ARE HEADED TO A MARKET ECONOMY AND DEVELOPMENT FOR IRAQ. [post 2 of 2]
1-25-2015 Newshound Guru Millionday Article quote: "Iraqi dinar, in addition to having an excellent cash reserve, which covers the local currency, as well as the dinar currency traded publicly in the global currency markets." GLOBAL CURRENCY MARKETS -- THEY ARE GOING TO FOREX...WHOOPOW! THAT MEANS BACK TO A REALITY RATE FOR THE MARKET. [When will they start trading on Forex?] THEY SAID THAT NOW IS THE TIME TO TAKE THE CHANCE WITH IT...THIS GOES WITH THE ANNOUNCEMENT THEY MADE TO THE CITIZENS ABOUT BEING READY IMO. THEY ARE ANNOUNCING THAT THEY ARE RAISING THE RATE HIGH AND GOING TO GLOBAL MARKET -- THAT IS NOT NORMALLY ANNOUNCED A LONG TIME BEFORE THE MARKET ENTRY. [post 1 of 2....stay tuned]
1-25-2015 Intel Guru TD Based on chats with my Kurdish amigo (treat all as rumor and please due your own sound diligence) there really is no earth shattering enlightening news to speak of . Abadi acknowledges at the economic forum that in light of oil prices declining, the urgent need of Iraq to embrace with all capacity iraq's urgent need to transform its economy into a broad market driven economy with development into many areas of growth. In the meantime economists and the CBI are again patting each other on the back regarding keeping the dinar at a stable rate in spite of many challenges and strong head winds. So really there isn't much new to report as the push to achieve state security overwhelms all else and the economic reform progress is in its infant stage.
1-25-2015 Newshound Guru My Ladies THE BUDGET WAS NOT VOTED ON AGAIN BIG BIG SURPRISE...NOT!! PARLIAMENT CAME, THEY SAW, THEY LEFT...THEY VOTED FOR NOTHING AT ALL, NO BUDGET, AND NOTHING NEW. WE ARE NOT WAITING FOR A RATE IN THE BUDGET. WE ARE SIMPLY WAITING FOR THEM TO PASS THE BUDGET. WHEN THEY PASS THE BUDGET THEY WILL NEED TO BE INTERNATIONAL...AT THE PRESENT TIME IRAQ HAS A PROGRAM RATE THAT CAN NOT BE USED ON THE INTERNATIONAL STAGE. SO WE ARE WAITING FOR THEM TO JUST GET THEIR CURRENCY BACK AND HAVE IT BE TRADABLE AT WHATEVER RATE.
1-24-2015 NewshoundGuru Chattels i opined earlier this week that i believe that the budget bill will be on the desk of the President for signature by February 1st.
1-24-2015 Newshound Guru Kaperoni the currency cannot wait 4 years. I believe the dinar will start this year in 2015. But people need to realize this is much more than the currency...its the whole transition to a market economy.
1-24-2015 Newshound Guru Aggiedad77 Article: "Finance Committee confirms the possibility of adoption of the budget during the current week" A member of the Finance Committee spoke and has related that the committee is ready to push the budget for 2015 back to Speaker of Parliament for a vote probably later this week...will that be on Monday...remains to be see at this point...
1-24-2015 Newshound Guru wmawhite [WE HAVE SEEN A RELEASE THIS MORNIG FROM RAFIDIAN IN UAE, STATING QI CARDS LOADED FOR RETIREES THERE...] I believe the Qi Cards are another indicator...an item that is dependent upon the IQD changing status within the central banking system (BIS). All credit card transactions conducted internationally move through the central bank system which includes the BIS...the BIS is the world's central bank accounting system...keeping track of who owes what. ...the IQD will need to be recognized by the BIS, the U.K...everywhere.
1-24-2015 Newshound Guru Tlar [how important do you think it is to have someone other than 'Keywords' as the Governor of CBI for this to go down? (like maybe getting Shabibi back in the saddle?).] As far as Shabibi getting back in the saddle, I don't think we will see that although I believe he is consulting with the CBI. Being the architect of the plan, he is a valuable resource.
1-25-2015 Newshound Guru sczin11 [I saw where you said, "Shabibi is on deck". What do you mean by that?] [reference OOTW & sczin post 1-23-2015] I AM A BIG BELIEVER HE WROTE THE PLAN, HE UNDERSTANDS THE PLAN, HE HAS GREAT CONNECTION WITH IMF, THE PEOPLE OF HIS GREAT COUNTRY LOVE HIM, YES, I BELIEVE HE WILL BE GIVEN THE HONOR, THE PRIVILEDGE, TO PLACE IRAQ ON THE WORLD TRADING PLATFORM!
1-24-2015 Newshound Guru Millionday THE SPEECH GIVEN BY ABADI TODAY [FRIDAY] AT THE ECONOMIC CONFERENCE...IS VERY POSITIVE AND HE IS VERY CLEAR THAT THEY HAVE TO MOVE FORWARD WITH REFORMS AND THEY ARE IN NEED OF THE FOREIGN INVESTMENTS. ABADI PLEDGED TO ADVANCE THE ECONOMY OF IRAQ AND ASKED FOR HELP DUE TO THE MOVE FROM FOREIGN COUNTRIES WITH SECURITY ETC. THAT SAYS A LOT -- THE RESULT WOULD BE THE REMOVAL OF TERRORISM FROM DAASH.
1-24-2015 Newshound Guru sczin11 NO ONE SAYS IT IS DELAYED...IT IS A VERY COMPLICATED PROCESS, AND A VERY DETAILED PLAN TO EXECUTE. THE PROCESS, HAD TO BE ESTABLISHED...AND THEN YOU HAVE THE MALIKI CREW TO BE DEALT WITH...WE ARE IN A GREAT PLACE, AND SHOULD ALL BE PROUD OF WHAT HAS BEEN ACCOMPLISHED THUS FAR...DR. SINAN AL SHABIBI, IS WAITING FOR THE CALL TO DUTY!
1-24-2015 Newshound Guru Kaperoni ...the recent articles from the CBI indicating they are ready to “participate and promote development” are encouraging. I want to point out that Dr. Bakri [Economist] states the dinar "first needs to improve" (raise in value) before they can move to Article VIII. In other words, the float may be institutional and gradual before they accept Article VIII and a new Exchange Regime. I also get the impression that the dinar can be convertible worldwide without technically accepting Article VIII. And lastly, he says... "improvement comes through delete some zeros" which to me again seems to imply a gradual appreciation because as the dinar rises, zeros begin to go away... he did...confirm the process is moving along, that the reforms are happening, and there is promise...and more importantly the new GOI is moving in the right direction. Iraq's economy is complex for sure. But I don't think what we are looking for will take much longer. As for currency reform, the timing will be kept secret within the CBI...
1-24-2015 Newshound Guru wmawhite Iraq has told us that they want to join the world financial markets...and they want investors...in order to do both Iraq via the CBI has to promote confidence in the IQD...to do that the CBI needs to add value to their currency.
1-24-2015 Intel Guru TerryK ...A LITTLE BIRDIE CALLED ME ...AND TOLD ME THAT WE SHOULD SEE OUR BLESSING THIS SUNDAY...I GUESS ABADI PULLED SOME STRINGS.
1-24-2015 Newshound Guru Tlar One thing I have always thought is that any change in value will have to come just before the budget is printed in the Gazette. If that is true then it follows they can't pass the budget without first changing monetary policy. If this is true then it might answer the question of why the budget is taking so long to fix. Iraq seems determined to pass this budget quickly and all parties are on board, but to make the changes and modifications should not take weeks as it has done already especially in light of the fact that they are in such a hurry. Word processors should be able to do this overnight. Not take weeks. Something else IMO is holding up the vote and I think its the rate. Both readings are done leaving only the vote but they keep putting it off. My personal opinion is that the hold-up is the rate and we won't see a vote until we see monetary change because IMO the budget cannot be opened at 1166. As I say this, we all know this is Iraq so we know they CAN open it at 1166 but IMO they won't.
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