6-29-2013 Mailman17 A FREE FLOAT FROM A PENNY OR EVEN GOING TO 1000-1 AND LETTING IT GO DOWN TO A 1-1 DOES NOTHING FOR THE PEOPLE. NOT TO MENTION, AGAIN...THERE ARE NO NOTES TO JUSTIFY 1000-1 OR A PENNY. IRAQS ECONOMY HAS ALWAYS BEEN BASED ON THE DOLLAR SO I EXPECT NOTHING LESS THAN A 1-1 AS WELL AND I ALSO EXPECT THIS BEFORE RAMADAN...FACT...THE DINAR IS VERY SCARCE ON THE STREETS AND THE CBI HAS DONE EVERYTHING TO TAKE IT OFF…INCLUDING THE SMALLER DENOMS LIKE THE 50, 250 AND 500…IF INDEED THEY MUST USE THEIR OWN CURRENCY FROM NOW ON...THEY DONT HAVE ENOUGH SMALLS TO COVER DAILY BUSINESS UNLESS...THEY GO PAR VALUE WITH THE DOLLAR AND INTRODUCE NEW NOTES THAT CAN COVER THAT VALUE. DOWN THE ROAD SAY 90 DAYS,,THEY CAN RETIRE THAT COMPLETE SET AND INTRODUCE THE NEW NOTES WITH THE KURDISH LANGUAGE HENCE THE ONLY NOTES ACCEPTABLE THEN WOULD BE MOST LIKELY A 200 DINAR NOTE ON DOWN TO FILS...JMO (the only thing i watch for now is to see if the requirements regarding chap 8 of the imf and chap 6 of the un coincide, if they are entwined, then we are good to go. as far as the rate, i still stick to my guns are far as a par value. add to that that 2 major banks are now set up starting monday for infrastructure (most likely outside) tells me the fear of investing in iraq is gone.)
6-29-2013 Frank26 …They are in ch 6…Nice position to GROW!!!...We still control the IQD as they now control the growth of it. BUT...Just like ch7...WE STILL CONTROL THEIR CURRENCY IS ALL ASPECTS…Nano seconds after ch7 was released M showed his evil again by quickly trying to buy weapons from Russia with money...WE STILL CONTROL!!! IMO...All is on course and as we expected to see. …They will NEVER see the keys to their shackles until they raise the value of their currency because as of this very nano second ...WE STILL CONTROL THEIR USED TP VALUED CURRENCY!!!...Indeed this is a MAJOR first step... I am pleased.
6-29-2013 Mailman17 NOT SURE WHY ANYONE IS WONDERING ABOUT THE HCL. SEEMS TO ME WHEN MALIKI VISITED ERBIL...THOSE THINGS ALONG WITH 140 WERE DONE AND SIGNED OFF ON. REASON BEING IS THAT IRAQ WERE UNDER 18 VERY STRICT BENCHMARKS SET BY THE UN FOR THEM TO BE RELEASED FROM CHAP 7. THEY FULFILLED ALL BUT 2. KUWAIT AND THE HCL. THERE IS NO WAY THE UN WOULD ALLOW THEM OUT OF CHAP 7 UNLESS THEY WERE COMPLETELY SATISFIED THOSE 2 REMAINING BENCHMARKS WERE FULFILLED, YET ONLY 1 MADE THE NEWS...KUWAIT. THIS IS ANOTHER REASON I THINK IRAQ WILL BE MAKING THE ANNOUNCEMENT WE HAVE ALL BEEN WAITING FOR AS REVENUE SHARING WAS PART OF THIS AS WELL. IMVHO...THE HCL IS DONE AND JUST WAITING TO BE ANNOUNCED.
6-29-2013 Mailman17 USING LEVERAGE IS WHAT THE US DOES BEST. RETAINING SEMI CONTROL OVER FROZEN ASSETS MAINTAINS THAT IRAQ WILL USE THEM FOR WHAT IS PLANNED...THE RV...AND KINDA PUTS A HALT ON ANYONE WHO WANTS TO GET THEIR GRUBBY STICKY FINGERS IN THE COFFIEUR…LETTING IRAQ CONTINUE ON THE PAYMENT PLAN TO KUWAIT THROUGH 2015 RETAINS THAT 11 BILLION IN THE CBI RESERVES AND TO BE THERE FOR THE RV. KUWAIT IS SATISFIED WITH THAT AS WELL...ALL IS HAPPY BETWEEN THE BROODING PAIR… THOSE FROZEN ASSETS WILL BE NEEDED TO COVER THE NEW RATE AS WELL AS THE DFI FUND. PROTECTION UNDER THE U.S. IS A SAFE GUARD AND NOTHING MORE… BUT IRAQ WILL HAVE FULL USE OF THOSE FUNDS AND AS INVESTMENT POURS IN..THEIR RESERVE SHOULD DOUBLE IN A VERY SHORT TIME...IRAQ WAS MADE TO SUCCEED AND IT WILL…
6-29-2013 Poppy3 [so, tariffs mean internationally recognized currency?] NO IT MEANS IRAQ WILL MAKE THE TARIFFS OFF OF THE MERCHANDISE AND IT WILL CREATE HUGE REVENUE. IT ALSO MEANS THINGS WILL COST THEM MORE AT THE STORE AND THEY WERE PROMISED THEIR CURRENCY WOULD HAVE MUCH MORE BUYING POWER AND THE TARIFF WOULD BE LESS THAN INCREASE OF THEIR CURRENCY. GOOD NEWS FOR THEM AND US.
6-29-2013 12thman Well as my wife post awhile back, we were to head back...from Peru...once we got the call...the phone rang and the main HR said we wait for the last week of June. Well my friends contacts are saying 1 to 1 for the Iraq citizens and a street rate of 3.42+- a few cents...were all just excited about the time frame and that this ride is almost OVER! I said June is OUR MONTH.
6-30-2013 Hub [did any of your friend say anything today?] yeah, they have said just hold on, its here and we will see it very soon... both contacts mentioned Sunday in conversations with the people they talk to...so we shall see.
6-30-2013 8ball Article: "U.S. Department of State' statement regarding removing Iraq of Chapter IIV" Actually that is what Chapter VI is .... non binding and non enforceable agreements.... BUT Kuwait agreed to remove Iraq from Chapter 7 knowing that Iraq owed 11 billion...I believe, IMO, is that the RV will produce the last payment...
6-30-2013 Jester LET ME RELATE A REALITY TO YOU...THE FOREX HAS NOTHING TO DO WITH THE BANK...THAT IS A CURRENCY TRADING PLATFORM...THE BANKS SET THEIR RATES INDIVIDUALLY EACH DAY BASED ON CURRENT ECONOMIC RELATIONS SHIPS TO THE FOREX SCREENS... BUT IT IS SET AT THE BANK... IN OTHER WORDS... THE BANKS CAN DO WHATEVER THEY WANT TO... THEY SET THE RATES FOR THEMSELVES ACCORDING TO SUPPLY OF THE CURRENCY AND WHAT THEY HAVE TO DO TO GET HOLD OF IT...TO EXPOUND A LITTLE... THE FOREX DOES NOT DRIVE THE BANKS... IT IS A CURRENCY TRADING PLATFORM... THE BANKS SET THEIR OWN RATES FOR EXCHANGE ONLY... THEY ARE NOT IN THE CURRENCY TRADING BUSINESS.
6-30-2013 Okie_Oil_Man HOPING FOR A FRUITFUL WEEK. THERE SEEMS TO BE A GREAT DEAL OF IMPATIENCE...TODAY. I THOUGHT MY LAST POST GAVE FOREWARNING THAT THE C/E MAY TAKE A FEW DAYS. CHAPTER 7 RELEASE WAS A CRITICAL NECESSARY MOVE BUT IT DID NOT ENCOMPASS A PRE-REQUISITE FOR A SPECIFIED C/E DATE. LOOKS LIKE THERE ARE ONLY 1 MORE ITEM ON THE AGENDA... EVERYTHING HINGES ON 1 SINGLE ISSUE THAT NEEDS ADDRESSING. NO PROBLEM--NORMAL PROTOCOL PROCEDURE. IT MAY HAVE ALREADY BEEN RESOLVED--I SHOULD KNOW LATER TODAY.
6-30-2013 Kaperoni Article and Quote: "A joint committee to browning Training Center Act monetary and banking" "economic joint committee with the parliamentary process to provide a final report on the draft law center monetary and banking training next week." If we go back and look a week or so ago, this law was in Parliament. This is very important law that needs to be passed so they can educate the banks, employees, etc on the standards, and requirements pertaining to international banking activities, products and services. IMO, this law is a must before anything will happen with the rate/IMF Article VIII.
6-30-2013 Jester [is Citi Bank opening a bank in Iraq on Mon?] IT WAS IN THE NEWS...EXCELLENT NEWS... WHY WOULD THEY WANT TO WORK SOMEWHERE THEY COULD NOT MAKE ANY MONEY...