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Thursday, December 6, 2012

IRAQ IS OUT OF CHAPTER VII, 7 DEC

LoriC: Ban Ki-Moon of the UN and Iraqi leaders are speaking of a "historic time for Iraq." Not only will they be removed from Chapter 7 after years of being under the UN's thumb but they will also become financially independent and once again have an internationally traded currency.

In my opinion they can sustain anywhere from a 1-3 dollar rate. The timing is the big question. The CBI has said January 2013 since early 2012. 

They seem to be on track and although I like Shabibi, I think the overhaul with the CBI happened to ensure they stay on track this time.

Mountainman: I'm trying to contain my excitement but it's very hard to at this point. After years of being invested in Iraq's currency it finally appears they will be released from sanctions and we will see their currency recover shortly.

I'd say they certainly appear to be on track for a significant rate change by the beginning of 2013. Fingers crossed.

Dtard:
 Iraq outta 7!!!! WOO HOO. BREAKING NEWS. Maliki : Iraq fulfill his obligation regarding UN resolutions. Prime Minister Maliki said Iraq has fully met his obligations regarding the international resolutions which were adopted under Chapter VII of the UN Charter.

He said at a joint press conference with his guest the UN General-Secretary Ban Ki-moon that Iraq had fulfilled all its obligations stipulated by international resolutions which were issued under Chapter VII of the UN Charter, stressing that Iraq's position requires get him out of the jurisdiction of this Chapter.

We are witnessing some major changes and Iraq is re-entering the international stage. They are being released from sanctions, wrapping up loose ends with Kuwait, opening airways and last but not least - dropping the artificial exchange rate. I feel we are truly close now. Keep the faith.

DINAR GURUS UPDATE, 6 DEC


12-6-2012  Newshound Guru Breitling   This is how we need to look at the rate.  There's 2 phases: 1.  The phase we are in now...how they are going to get to the rate they want it at which is $1.13 - $1.17, figure around a buck.  2.  The next phase is from $1.17 to $3.20.  It could be $1.17 right off the bat, but I don't think so, I think it will pip up piece by piece to $1.17.  Then from $1.17 to $3.20 and after that it's going to explode in Iraq.  Phase 1 - $1.17, phase 2 - $3.20...that's is what the Ministry of Planning stated what their rate is going to be & how they can support it.

12-6-2012  Newshound Guru LoriC   Ban Ki-Moon of the UN and Iraqi leaders are speaking of a "historic time for Iraq." Not only will they be removed from Chapter 7 after years of being under the UN's thumb but they will also become financially independent and once again have an internationally traded currency.  In my opinion they can sustain anywhere from a 1-3 dollar rate.The timing is the big question. The CBI has said January 2013 since early 2012. They seem to be on track and although I like Shabibi, I think the overhaul with the CBI happened to ensure they stay on track this time. 

12-6-2012  Newshound Guru SWFloridaGuy   For years now economists have been studying ways to raise the value of the IQD and sustain that growth as well. If they were planning a straight redenomination with no significant rate increase they would have never spent this much time studying the long term effects, in-country (and out) security issues, counterfeiting, dedollarization and how to institute a market-based economy where they are respected as a borrow in the eyes of global capital markets. This is just my opinion of course and I will never be able to prove that a straight RD is not their plan.

12-6-2012  Newshound Guru Adam Montana  The revaluing of a currency is not an overnight thing, never was. It's not something that will be done arbitrarily - it will be well planned, fully supported, and will not happen until everything is in the right place. 

12-6-2012  Newshound Guru Doc     Moon is in Iraq as has been reported.  Our guess is he will convey what was in the Secretary-General's report.  The report basically said Iraq had not made much progress on the political front.  It went on to say while some progress had been made with Kuwait there were still outstanding items.  Is Iraq making progress - absolutely.  Has everything been completed - absolutely not.  We are hopefully the outside political pressure will prevail and Maliki and company will comply so we can see the RV in first quarter 2013.  As an aside we monitor forex exchanges and major banks around the globe and neither the IQD or VND have showed any appreciable change in recent days.  We report, you decide.  [post 2 of 2]

12-6-2012  Newshound Guru Doc   Many sites are speculating that all is done.  Unfortunately these continue to overlook the obvious.  We continue with our position Maliki does not want currency reform at least not quite yet.  We are reminded his goal appears to be to control every aspect of Iraq to the point of dictatorship.  Our opinion is he will release the RV when he feels he has full control.  Right now he does not.  He does not control the "wealth" of Iraq in that the HCL is not done.  He does not quite have full control of the entire GOI in that he continues to release bogus warrants for those that oppose him.  We are also reminded that to control the masses he has to keep them in fear and/or dependent on him.  This has been confirmed by various sources such as the Secretary-General of the UN, Allawi and others.  As the political wrangling works it way out then currency reform can happen.  A free market currency needs a stable political environment and assets to support its value.  [post 1 of  2....stay tuned]

12-6-2012  Intel Guru Okie_Oil_Man   [NEW IRS RULING EXPECTED TODAY ON CAPITAL GAINS TAX]   I AM AWAITING THE I.R.S. NEW 159 PAGE RULEING TODAY THAT MAY ADD 3.8% ADDITIONAL TAXES TO WHAT THE PRESENT CAPITOL GAIN'S TAXES ARE PRESENTLY.  THIS NEW RULEING AS I UNDERSTAND IT WILL BE APPLICABLE ON CAPITOL GAIN'S AND DIVIDEND'S, WHICH WILL AFFECT MANY OF US.  AS I GET A CHANCE TO STUDY IT WHENEVER IT BECOMES AVAILABLE I WILL SHARE MY UNDERSTANDING OF THE APPLICATION AND WHETHER IT APPLIES TO ALL OF US AS INVESTOR'S. I HAVE NO NEW INTEL ON THE TIMING OF THE R/V.  I AM KEEPING CURRENT ON THE INTEL AS IT APPLIES TO EACH OF US.

12-6-2012  Newshound Guru Kaperoni   clip from article - "the timing of the start of the project has not been determined until today, but it will not be over the next year 2013 ".  Turki added that "the deletion of zeros is a necessary and useful step to restructure the currency and the economy,"  I just find those two statements very contradictory considering the circumstances in Iraq.   Everyone is fully aware of the economic situation in all areas.  Delaying this event seems to only accomplish one thing, which would further deteriorate the achievements made in the economy and create more poverty, less employment and civil unrest.  Maybe that is what Maliki wants....who knows.The one interesting fact that is still outstanding is the torn, worn out dinar.  The articles that addressed this in Sept and Oct stated that the first week of Nov they would start issuing replacements.  To this date, I am not aware any such process.  Therefore, this article seems to hold even more gravity when you consider the condition of the dinar in country.

12-6-2012  Newshound Guru Tlar      "clip from article - "the timing of the start of the project has not been determined until today, but it will not be over the next year 2013 ".     Don't believe anything you read concerning when this will happen. Let's look at the facts. They want the ration card shut down in March. The bank is still following Shabibi's plan. They are still mopping up dinar with the auctions. They are trying to become members of the WTO. They obviously want out of Chapter VII. They need the investment as they themselves have stated. The ISX is coming to the front burner. They need tariffs now. They've already raised fuel and electricity proving their serious about the rations. The IMF loans are due Feb with most likely no more extentions. The Cbi has stated once again their ready. How can anyone believe what they are now saying. They can wait another year? Hog wash. Who on here believes that this article would say: "we have decided to remove the zeros in Jan 2013?"  Don't believe these guys. They have many reasons and motivations to not disclose their plans.

12-6-2012  Newshound Guru Adam Montana   Iraq has made significant progress, is millimeters away from being released from Chapter 7, and would benefit from a raise in the value of their currency. 

12-6-2012  Intel Guru Bluwolf   On another subject nothing has happen as of yet, I see rumors come and rumors go what I don't see is the solution that must be dealt with here in the U.S.( the tax on the rich ) for that if done before the 15th would insure us a blessed Christmas, but the way I see this it might take longer before the gop falls into play an gives in to a solution.  No bill signing, no rv, fine and simple. Looks like we are looking at the beginning of the year before we may see our blessing

FREEBIRD POST, 6 DEC

12-6-12 Freebird: I don't think it's a coincidence that just today the FAA (US) ended its 16-Year Ban on Commercial Flights to Iraq. Department of transportation Docket No. FAA-2003-14766 The final rule says this action is taken to allow U.S. civil flight operations to and from Erbil and Sulaymaniyah International Airports in Northern Iraq by any United States (U.S.) air carrier or commercial operator, any person exercising the privileges of an airman certificate issued by the FAA except such persons operating U.S.-registered aircraft for a foreign air carrier.

We are witnessing some major changes and Iraq is re-entering the international stage. They are being released from sanctions, wrapping up loose ends with Kuwait, opening airways and last but not least - dropping the artificial exchange rate. I feel we are truly close now. Keep the faith. 

TERRYK CORRECTION, 6 DEC

TerryK Chat on PP correction 12/6/12 8:37 AM est

[TERRYK] MORNING ALL HEY I NEED TO CORRECT SOMETHING I SAID HAVE BEN SAYING FOR AFEW DAYS MY SOURCE CALLED ME AND TOLD ME I MUST HAVE MIS UNDERSTOOD 

SO I WILL SAY I MIS UNDERSTOOD IM NOT TOO PROUD TO SAY THAT 
THEY   CORRECTED ME TODAY

[TERRYK] THIS IS ABOUT THE PP I STATED THAT 95% WERE OUT

[TERRYK] WHAT IS CORRECT IS 95% ARE OUT TO THE MARSHALLS FOR DELIVERY NOT THAT THEY HAVE BEEN ISSUED 

THE MARSHALLS HAVE NOT GOTTEN THE GO AHEAD TO DELIVER YET BUT WAS TOLD THAT SHOULD CHANGE TODAY OR TOMORROW PUSHING THIS INTO THIS WEEKEND

[TERRYK] AGAIN SO THATS WHAT I WAS TOLD I WAS WRONG AGAIN GUESS I NEED TO LISTEN CLOSER

[TERRYK] NOW WITH THAT SAID 75 TRILLION WAS TRANSFERED INTO US BANKS TWO DAYS AGO FOR THE FUND THAT I HAVE CONFIRMED SO THEY ARE READY GREAT CALL LAST NIGHT THANKS FOR ALL YOU PEEPS DO  GOD BLESS AND SEE YOU LATER

DISCUSSION OF KAPERONI ABOUT RECENT NEWS, 6 DEC

12-6-12 Kaperoni: Clip from article - "the timing of the start of the project has not been determined until today, but it will not be over the next year 2013." Turki added that "the deletion of zeros is a necessary and useful step to restructure the currency and the economy," I just find those two statements very contradictory considering the circumstances in Iraq.

Everyone is fully aware of the economic situation in all areas. Delaying this event seems to only accomplish one thing, which would further deteriorate the achievements made in the economy and create more poverty, less employment and civil unrest. Maybe that is what Maliki wants....who knows.

The one interesting fact that is still outstanding is the torn, worn out dinar. The articles that addressed this in Sept and Oct stated that the first week of Nov they would start issuing replacements. To this date, I am not aware any such process. Therefore, this article seems to hold even more gravity when you consider the condition of the dinar in country.

Talabani with Ban Ki moon: Iraq has met its international obligations and commitments; UN should seek Iraq’s removal from CH VII, 6 dec


Talabani with Ban Ki moon: Iraq has met its international obligations and commitments; UN should seek Iraq’s removal from CH VII

Talabani Ban Ki-moon: Iraq has met its obligations to the international commitments and should the United Nations is seeking to remove Iraq from Chapter VII
Thursday, December 06, 1 / December 2012 16:38
President Jalal Talabani the importance of the role of the international organization in Iraq out of Chapter VII of the UN Charter.
The presidential statement received by the agency all of Iraq [where] a copy of it today that “President Jalal Talabani received in Baghdad this morning UN Secretary-General Ban Ki-moon and his accompanying delegation, during the meeting, President Talabani welcomed the delegation UN commended the efforts of the United Nations in support of the people Iraqi, pointed to the importance of the role of the international organization to help remove Iraq from under Chapter VII of the Charter of the United Nations. “
The statement quoted Talabani as saying that “Iraq has met its obligations to international commitments, has returned to the international community and play a major role in maintaining peace and security in the region and has actively participated in international forums.”
And “it was addressed to the current tensions between the federal government and the Kurdistan Regional Government, The Secretary-General of the United Nations optimism choose the language of dialogue and peace to solve the problems and differences, and was Talabani stressed that current trends moving towards normalization of the situation, referring to his last to the Iraqi people and that encourages which all parties to the truce and go to serious dialogue in order to install the stability and civil peace. “
The statement continued that “the situation of Syrian refugees in Iraq were of interest to the meeting, where the President pointed out that the Syrian brothers in their second Iraq are well-treated and with appreciation and pride, stressing that Iraq will spare no effort in order to care for them and help them.”
He said that “on the other side of the meeting, which was attended by Foreign Minister Hoshyar Zebari, Naseer al-Ani, head of the Office of the Presidency of the Republic and other officials, there was an exchange of views on regional and international issues.”
http://bit.ly/UpS071

Central Bank to linger on decision to delete zeros; CBI Governor (proxy): Not to happen in 2013, 6 dec


Central Bank to linger on decision to delete zeros; CBI Governor (proxy): Not to happen in 2013

on 12.6.2012
Governor of the Central Bank announced Agency Abdul Basit Turki “occurred in the decision to delete the zeros and currency exchange.”
Turki said the “timing of the start of the implementation of the project has not been determined until today, but it will not be over the next year 2013.”
Turki added that “the deletion of zeros is a necessary and useful step to restructure the currency and the economy,” noting that “the relevant committees in parliament called for the need to wait in the project, so as to provide appropriate time and circumstances.”
http://bit.ly/Rb6nzy

Central Bank announces that it will not delete the zeros from the currency in the next year, 6 dec

Central Bank announces that it will not delete the zeros from the currency in the next year



Ahmed Abdul Hassan - 12/06/2012 - 3:42 pm 
The Central Bank of Iraq that the draft delete zeros from the currency will not be in the next year, at the request wait made ​​by specialized committees in Parliament . 

said Iraqi Central Bank Governor agency Abdel Basset Turki Wednesday, in an interview, "that" تريثا occurred in the decision to delete zeros and currency exchange, "noting that" the timing of the start of the project has not been determined until today, but it will not be over the next year 2013 . " 

said Turki that "the deletion of zeros is a step necessary and useful for structuring currency and the economy," noting that "the relevant committees in the Parliament called for the need to wait in the project, so as to provide conditions and appropriate time " . 

was the Finance Committee parliamentary suggested, at an earlier date, in the words of Attorney Haitham al-Jubouri be direct delete zeros and the currency exchange during the month of July of next year, and as shown, the central bank has removed all concerns, stressed that the government will support this project after providing Baijayate and disadvantages .
http://www.burathanews.com/news_article_177535.html

Releasing Iraq from UN's sanctions identifies international role of Iraq, says Saad, 6 dec


Releasing Iraq from UN's sanctions identifies international role of Iraq, says Saad

Baghdad (AIN) –MP, Suzan al-Saad, of al-Fadhila bloc called the United Nations to expedite releaving Iraq from the Seventh Chapter of the UN's Charter and settling all the pending issues between Iraq and Kuwait.
In a press statement received by AIN on Thursday, she said "Iraq started its role in the international and regional communities which means that the new image of Iraq is brighten where releaving it from the Seventh Chapter of the UN's Charter is an international certificate for its role."
She stressed the importance of "having a real intention in improving Iraq's relations with all the neighboring countries especially with Kuwait because there are historical relations between the two countries."
"There are no reasons to keep Iraq under the Seventh Chapter of the UN's Charter after doing its commitments," she concluded
http://www.alliraqnews.com/en/index.php?option=com_content&view=article&id=24060%3Areleasing-iraq-from-seventh-chapter-of-uns-charter-represents-international-certificate-for-its-role-says-saad-&catid=35%3Apolitical&Itemid=2

Political situation and hasty decisions to make structural replacement currency is impossible , 6 dec

Expert: Political situation and hasty decisions to make structural replacement currency is impossible 


1:18 pm, December 6, 2012 by nizar 

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BAGHDAD (Iba) .. Ruled banking expert Ala morning angel, replace the restructuring of the Iraqi currency in early 2013 and the implementation of the project to delete the zeros, indicating: that all the country's political situation and economic is well suited for the implementation of the Central Bank project to replace the currency.

And the angel said in a statement to Agence independent press (Iba) Thursday: The replacement of structuring currency has become elusive in political conditions tense and unstable economic, noting: that hasty decisions latest on the central bank and at least governor and fluctuating exchange rate currency led difficulty implementing central bank's decision replacing currency.

He added: that the deterioration of the political situation between Erbil and Baghdad confirm the difficulty of making any changes or any of improvement in the economy of the country and threaten all joints degradation of the Iraqi economy.

Angel continued: to take action and informed decisions by the federal government and in coordination with the Central Bank of learning from the process of replacing the currency an easy process, but for the Government's preoccupation with the political situation makes the currency exchange is excluded from the economic arena. (End)

http://ipairaq.com/?p=66447