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Playback Number PTR Call

Monday, 1/23/12 @ 6 PM EST

760 569 7699   Pin 425143 #

Freeconferencing Playback 84 min    LINK 

_More great hints as to the CBI's strategy were revealed late last week.  One article was very forth coming and said the target exchange rate in the near term will be 1150.  What is very interesting is the fact that they are limited to a 2.5% change over 90 days due to current sanctions.  A 2.5% change would put the rate at 1140.  Another article suggested a target of a 3.4% change which would put the rate around 1130.  While we believe this was a typo (should have been 0.34% to reflect the 1166 rate), we are very excited that it appears the CBI has begun it march toward its stated ultimate RV rate of $1 to $1.3.  Look for changes in the rate toward 1150 in the short term until the CBI's hands are untied.

The problem right now is that the CBI is constrained as to how fast it can move the rate due to chapter 7 and the lack of passed laws to support the ultimate RV value.  Several articles gave an indication as to timing.  The budget HAS NOT been approved and it was indicated it could be a month before it was.  Erbil was also reported as being very close with a vote in Parliament 2-3 weeks away. The only reported timing for chapter 7 by the UNSC is June.  The great news is all these issues are progressing and seem to have priority.  Could they all resolve themselves this week - of course !  Will it happen this week - not probably given the past history of Parliament.  We maintain that the minimum time for resolution of these issues is mid to late February.  We report, you decide.

Bulldog75: THIS IS ALL GOOD TO GO AND SHOULD BE READY, SET, GO FOR TOMORROW. AND O WILL CAP IT OFF WITH HIS 'STATE OF THE UNION' ADDRESS ON TUESDAY,/ TOMORROW NIGHT. ALL POLITICIANS WILL NEVER MISS THIS OPPPORTUNITY TO MAKE THEM SELF LOOK GOOD.

KOUMA1935: To Bulldog...I love homework and have done mine - please address the question of Ministers. Can we have an RV if they are still in the control of Maliki??
Bulldog75: KOUMA ANSWER: HAS NO EFFECT ON RV. THANKS.

Bulldog75: ALL THE RATES ARE LOCKED AND IN THE SLOTS. NOTHING NOW SHOULD HOLD THIS BACK, IMHO.

Bulldog75: OK; LETS BEGIN Q AND A

1.)kouma1935: Is it true that Maliki made an unannounced meeting last Monday to meet with O?
Bulldog75: KOUMA 1935 ANSWER; THANKS. BUT NOT SIGNIFICANT. NO EFFECT ON RV.

2.)bandit: bulldog75--- IS the 747 still available
Bulldog75: BANDIT: 747s ARE STILL FLYIN HIGH AND IS RIGHT WHERE WE NEED TO BE.

3.)ponie712: Bulldog75 Thank you for guiding us through this maze. I read last week that the UST, IMF and IRS had met to discuss the capital gains tax that we will have to pay-eventually. They had talked about the taking the tax off the top at cash in. Any thoughts please??
Bulldog75: PONIE712: WE ARE AWAITING THE IRS DECISION. WILL FORWARD INFO WHEN AVAILABLE. THANKS. 

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_[blessedinohio] Is the window still minute by minute or better during daytime in US vs. middle of the night?
[BWM] 1. blessedinohio we minute by minute now... we have a number of sources that are looking expectedly for something tomorrow morning... as far as timing goes, I have always had my ideas on when it would hit but it seems to be a consensus lately from a couple of sources that think this will not be an "expected" time... so we'll wait and see what happens...as usual

[tigers] What is the deal with the CBI being down today?
[BWM] 2. tigers we have an understanding this is not a server issue but it is down for maintenance... as always we want to read everything thru dinarvision and think this is it... could it be, yes, could it not be, yes... we just won't know until it comes back up.

[gunny] BWM What are your feeling regardint eh 24 hour cash in? TY!!
[BWM] 3. gunny there has been rampant speculation about the cash in timing and honestly until we see the rate we just don't know... I am operating under the premise that the higher the rate the quicker you need to make plans to cash in... if you have a plan this should not put into a sense of but rather security that you can accomplish this on schedule for yourself. again, the time period is a bit skewed... when you think 24 hours we immediately assume consecutive hours when it could be banking hours...

[joyjoyjoyjoy] did the announcements get made that were supposed to? Are we still on for the RV tonight? sure appreciate you!
[BWM] 4. joyjoyjoyjoy no announcements have been made that I am aware of at this time... does that mean anything is off or on... hardly think so since I wouldn't actually expect the hear the letter R and V out of anyone's mouth of importance...

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_Med says to (07:14:20):
I WANTED TO BRING UP AN ARTICLE I READ
IN THE GAZETTE
BUT DIDNT POST IT

MOSTLY BECAUSE IT WAS REDUNDANT
AND DIDNT MAKE SENSE
BUT I WANTED TO DISCUSS IT

BECAUSE IT SEEMS THAT THESE PEOPLE IN PARLIAMENT
DO NOT READ THEIR OWN NEWS
OR EXPLANATIONS OF THE RAISING OF THE ZERO'S

SHABIBI'S OWN WORDS
WAS THAT RAISING THE ZERO'S
AND PUTTING THE DINAR 1 TO 1 WILL INCREASE THE PURCHASING POWER
HOW CAN ANYONE MISUNDERSTAND THAT
IT IS SHABIBI WHO SAID IT
HE ALSO SAID IT WILL IMPROVE THEIR STATUS IN THE IMF
AND AGAINST OTHER FOREIGN CURRENCIES
THEN TODAY
A FEMALE MP  
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_Central Bank of Iraq raises the value of Iraqi Dinar Saturday, January 21, 2012 13:44 GMT

[gankans] Did you all see this?

[gankans] Here is the article.

[gankans] Saturday, January 21, 2012 13:44 GMT Central Bank of Iraq announced, on Thursday, that it revaluated Iraqi Dinar 3.4% in exchange with Dollar. This decision will affect the exchange rate of Iraqi Dinar against US dollar in Iraqi markets, Central Bank stressed. “During his daily auction of foreign currencies’ exchange, Central Bank raised the value of Iraqi dinar against the dollar with a percentage of 3.4% which counts 4 Dinars,” deputy governor of Iraqi Central Bank Mazhar Mohammad Saleh told Alsumarianews noting that after the current change each 1166 Iraqi Dinars equal 1 Dollar. “Nominal rate of Dinar doesn’t coincide with its purchasing power or with its real exchange rate against the Dollar,” Saleh revealed.

_ [gankans] “The current account of Iraq payments has a surplus of 5 to 8% in comparison with the GDP,” Saleh advanced stressing that this surplus is a strength indicator and points that Central Bank has major reserves. “Central Bank of Iraq’s decision will affect Dollar exchange rates which slightly increased lately in Iraqi markets,” Saleh declared adding that Iraqi Dinar will become a riveter in Iraqi markets. Central Bank of Iraq had announced, on Thursday, exchanging Dollar categories for 1166 Dinars per Dollar after it used to sell 1170 Dinars per Dollar. Auctions of the Central Bank are taking place, daily, with the participation of 23 different banks.

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