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DINARESGURUS.BLOGSPOT.COM_________________ _______

Wednesday, December 12, 2012

BLAINO CALL WITH OKIE, 12 DEC

12/12/12 Blaino: JUST OFF THE CPHONE WITH OKIE... HE IS INDEED BACK HOME AT THIS HOUR... I "FESSED UP" THAT I HAD ASKED ...Ms.Adele (I WAS AWAY FROM THE OFFICE) TO CIRCULATE THE NEWS OF HIS EMERGENCY TRIP & ASK THE DIFFERENT SITES TO REQUEST SUCH PRAYERS AS MIGHT BE AVAILABLE.... SHE WAS ABLE TO ACCOMPLISH THAT FOR ME AND EVEYONE PITCHED IN....

 WITH ONE NOTABLE EXCEPTION, THE SAME BEING THE SITE THAT RAISED SUCH A RUCKUS WHEN TEXASTOM MADE AN APPEARANCE ON ONE OF OUR CALLS RECENTLY AND AGAIN SEVERAL WEEKS AGO WHEN HIS BROTHER OKIE WAS GOING TO BE WITH US ON A THURSDAY NIGHT.... WEIRD...

 THAT THEY WOULD DISPUTE SUCH A THING! WELL, AGAIN, THE TRUTH IS OUT! OKIE ASSURES ME THEY ARE ALL "GOOD PEOPLE" .... SO...... ANYWAY, HE THANKED ME AND FELT IT MUST HAVE DONE SOME GOOD (PRAYERS) AS HE WAS ABLE TO RETURN HOME TILL TOMORROW. HE IS SORE AND SPEAKING WITH DIFFICULTY, SO HOLD HIM IN YOUR HEARTS IF YOUR ABLE. ALTHOUGH HIS DATES HAVE BEEN LACKING MORE THAN ONCE, WHO'S HAVE NOT? HE HAS THE COURAGE AND SPINE TO ENDEAVOR TO PERSEVERE! THAT, IN ITSELF IS AN ALMOST RARE TRAIT TODAY.

DINAR GURUS UPDATE, 12 DEC


12-12-2012  Newshound Guru Adam Montana    One other thing I found noteworthy this week is Maliki selling a piece of his property. It's a 600 square meter property, and the price is 900 THOUSAND us dollars. 600 square meters is about .14 acres. POINT ONE FOUR - not fourteen! My thoughts on this... if you can get almost a million dollars for a property smaller than a baseball diamond, how "destitute" can Iraq's future really be? Think on that for a while.

12-12-2012  Intel Guru Frank26   Well Fargo has told me they couldn't talk to me until Iraq is lifted from Chapter 7.  They are not buying or selling dinar until the restrictions are lifted.  A source said Wells Fargo is training people to exchange the Iraqi dinar.  They were/are being trained from November 28th to the 12th of December.  They were told "we will put you to work right away, we will have our holiday & then you will come right back at January 1st to get to work".

12-12-2012  Newshound Guru Kaperoni    2. "The Board of Directors authorized the Iraqi Central Bank Governor the power to reduce the sale price of the dollar and of 1179 dinars to the dollar to enhance the value of the Iraqi dinar based on market demands."  This appears to be confirmation that the CBI is going to move forward with a free float. They are going to let "market demands" (float) dictate the rate of the dinar as we stated. It appears it will start at the current CBI rate and rise. This authorization is very good news and hopefully we will see something soon.  [post 3 pf 3]

12-12-2012  Newshound Guru Kaperoni    If I am correct, Maliki could initiate some loan through a local bank (through some fictitious company) and default, thus making the CBI spend its funds to reimburse the local bank. He clearly is very clever finding ways to get access to the reserves of the CBI.  The question will be, will the IMF and WB allow this? Steve (Newshound Guru Enorrste) does not seem to think so. I am not so sure. The problem with this is it would clearly affect the value of the dinar.  [post 2 of 3 stay tuned]

12-12-2012  Newshound Guru Kaperoni    I have studied these articles and some checking. There are two main highlighted areas - one good and one bad. Let me explain what I believe is going on...1. "All banks licensed to open letters of credit and funded by the Central Bank of Iraq according to a mechanism designed for this purpose.This is potentially very bad. This appears to be Maliki's way to get the CBI's reserves...the CBI is now in the business of guaranteeing loans and its reserves are the guarantee...IMO, ...they now become the collateral for these "open letters of credit."  [post 1 of 3....stay tuned]

12-12-2012  Newshound Guru Adam Montana   There are ongoing talks about Chapter 7.  Even though the Moon meeting went well last week, we have not seen that "stamp" come down yet.  Shabibi is posturing as if he is not concerned about the warrants, but he is still conveniently "busy" outside of Iraq and has not returned home yet.  In my opinion, he's stuck right now. He can yap all he wants about how baseless the warrant is, but facts are facts - Maliki is in control of the situation and Shabs is forced to sit and watch.  Hopefully this is a good thing for us - there has to be a reason Maliki wanted Shabibi out of the picture for a while, and with the positive Chapter 7 and HCL news lately we can certainly hope an RV is on the horizon.

12-12-2012  Newshound Guru Tlar   Best guess? We will see a move of about 25 - 50 pips or less. Just a guess. This should slow the sales of USD significantly and may start to reverse the selling of USD into the buying of USD, as it gives the incentive to turn your dollars back into the CBI for a stronger dinar. It will be a positive move and will increase the value but I would like to see it in the hundreds.  [post 3 of 3]

12-12-2012  Newshound Guru Tlar   I think they are attempting to slow the sales of dollars and ultimately want to reverse that process. At the rate they have been selling the dollar they have collected literally trillions of dinars. It doesn't necessarily mean that the RV is on as I don't see this as the introduction of a float but rather another move on the pips that will slow the sales of USD.   [post 2 of 3....stay tuned]

12-12-2012  Newshound Guru Tlar   Remember the auction is the only tool they have had to control the exchange rate and inflation because the other two tools, the taxes and tariffs, and the exchange rate have not been implemented or used. It looks to me that the bank is now going to use a combination of the auctions and now the EXCHANGE RATE to control the flow of dollars.  It looks to me like they again are moving the exchange rate from 1166 to a lower program rate without giving us the amount yet.  [post 1 of 3....stay tuned]

12-12-2012  Intel Guru Footforward   Until the U.S. Treasury gives the go ahead to the banks to start exchanging, they can't do anything.   Until it [rate?] changes at the banks, we don't have an RV.  I have seen the document that indicates that Iraq has to have an RV greater than $1 in order to get out of Chapter 7.  This has been the plan all along.   Iraq has done everything they need to do to get out of Chapter 7.  This is why Maliki keeps going & asking for removal from Cahpter 7.  Do I expect the RV to happen soon, absolutely I do.  Also, there is no freeze on the Dong.  Some places that sell it have run out, but they can still buy and sell it.

12-12-2012  Intel Guru Frank26    The FAA decided to open the air spaces in Iraq.  They could have done this a long time ago, so you have to look at the timing.  My contact believes the State Dept. did this.  My contact in Iraq says it is not important for the flights coming into Iraq, but for the flights leaving Iraq.  There are a lot of powerful people in Iraq with a lot of dinars.  They want to get the best rate possible and they probably won't get it at the CBI.  We are hoping it starts out at $1.17.

12-12-2012  Newshound/Intel Guru BGG   Article:  "Shabibi reveals the release of employees of the Central Bank and demanding the release of the Deputy Governor"   Shabibi essentially ordered his own “warrants” – he’s not one to be trifled with!

DISCUSSION OF SHREDD, 12 DEC

Central bank: we support the national economy to stabilize the market

12.12.2012 12:00 AM 


BAGHDAD - morning, the 
central bank announced Tuesday, allowing Iraqi banks to open documentary Alaatmadt, decided to increase the share of the weekly auction and given to the exchange companies and money transfer, as well as adopted a resolution authorizing the Governor of the Bank to reduce the sale price of the dollar according to the requirements of the market. 
confirmed in a statement received by Bank (Sabah) a copy of the need to focus on the development of tools in monetary policy and support national economy, the stability of the market, taking a number of decisions he said include encouraging a number of Iraqi banks, including (Baghdad, credit, Mansour) in the first phase and include later all banks licensed to open letters of credit and funded by the Central Bank of Iraq according to a mechanism designed for this purpose in addition to the continuation of these banks in the entry window sale of foreign currency, and hinted statement that Central decided to increase share weekly auction and donated to the exchange companies and money transfer. Explaining that the mechanism will be through the granting of 100 thousand dollars to exchange companies who increased their capital and according to the requirements of the Central Bank of Iraq for "five hundred million dinars." And 150 thousand dollars for money transfer companies who increased their capital before the date required by the Central Bank of Iraq for "Fifteen billion dinars." And 125 thousand dollars for the money transfer companies who increased their capital for ten billion dinars "The statement to authorize the Governor of the Central Bank of Iraq the power to reduce the sale price of the dollar and of 1179 dinars to the dollar to enhance the value of the Iraqi dinar and the requirements of the market.

http://www.alsabaah.com/ArticleShow.aspx?ID=40590

[Shredd] ok
[Shredd] i've said this on many posts before....
[Shredd] there is a difference between sale price
[Shredd] and exchange rate
[Shredd] a price is what is paid and the rate is the money
[Shredd] no different than you buying something 
[player46] that's right I forgot.   
[Shredd] if you want to buy a toaster for 20 bucks
[Shredd] but its on sale for 18
[Shredd] you pay 18 using USD
[Shredd] so, this is a super article, but they are talking about pricing
[Shredd] now, lemme say this tho
[player46] dang sorry..   
[Shredd] if the prices keep sliding far enough
[Shredd] the cbi will pip the exchange rate like they have before
[Shredd] that's why you see the exchange rate at 1166 and PRICES at auction near there
[Shredd] up to, what....1280 ish
[player46] 1280
[Shredd] and even went below a bit if i remember correctly
[Shredd] right
[Shredd] so, they are connected but not immediately if that makes sense
[Shredd] but again, great great great great news
[Shredd] and official! i like that
[player46] Shredd .. if they move we don't see it on cbi do we?
[Shredd] not for pricing, no
[Shredd] but you will see it on auction details
[player46] ok that was my question ty... 
[player46] yes... 
[drc1947] Shredd tyvm 
[player46] enhance the value of the Iraqi dinar based on market demands.
[player46] how is that controlled? 
[lightingcslt] Shredd Shredd Shredd Shredd Shredd 

[Shredd] The bank decided to encourage banks (Baghdad, credit, Mansour) in the first phase and include later all banks licensed to open letters of credit and financing by the central bank according to the mechanism designed for this purpose in addition to the continuation of these banks in the entry window sale of foreign currency / currency auction .
[Shredd] lemme explain this part too, if I may
[Shredd] this is good....
[player46] we will not see the movement on cbi... just auction prices... 
[Shredd] the "later phase" will include the opening of letters of credit (LOC)
[player46] Shredd .. k.. ty... 
[Shredd] an LOC is a bank guarantee....
[Shredd] of creditworthiness on loans
[Shredd] so, if a loan (securitized as a bond) is taken out by an Issuer,
[Shredd] a bank will put their guarantee on it so that investors want to eat it up!
[Shredd] folks, this is great news and lemme tell you why
[Shredd] because of the market issues we've had since 2008
[Shredd] virtually no banks are doing LOCs
[lightingcslt] Shredd wow really?
[Shredd] because banks are scared of guaranteeing debt
[Shredd] so, for this to be here is huge
[Shredd] the cbi is going agains the grain
[Shredd] and this will be massively attractive for investors
[lightingcslt] Shredd         we ready?
[Shredd] to invest in debt (bonds) over there
[Shredd] also....
[Shredd] "window sale of currency"
[Shredd] this is referring to the auctions so we see the marrying of these in this article
[Shredd] a two phase project it looks like
[Shredd] this ties in to the chats we've been doing 
[Shredd] about banking/investment
[Shredd] i sure hope all our peeps appreciate the massive amount of work being done in Iraq
[Shredd] for investment and banking
[drc1947] Shredd working hard to get it done
[Shredd] so, again,....
[Shredd] so many peeps staring at the dang rv or float or whatever
[Shredd] and missing all the behind the scenes

[Shredd] it's like wondering if it will ever happen solely based on it happening LOL!!!
[Shredd] but when you look at these things
[Shredd] you can see.....what?
[Shredd] you can see it COMING
[player46] progress 
[dinardoe] I read another opinion on the LOC issue that Maliki could get a LOC loan, default, and thereby get his hands on the reserves...what think you ??
[Shredd] not connected at all dinardoe
[Shredd] let me explain....
[Shredd] a LOC is a bank guarantee on debt
[Shredd] the LOC bank does not lend
[Shredd] or disburse funds
[Shredd] unless there is a default or deferrment, they get fees for their protection
[Shredd] simalar to insurance
[Shredd] premiums for protection
[Shredd] but defualts and deferrals dont happen on debt right away
[Shredd] on a new debt issuance, they are the most healthy then
[Shredd] its later down the road when help may be needed
[Shredd] plus, LOCs have to be renewed on a regular basis
[dinardoe] so what would keep someone from intentionally getting a LOC loan and then defaulting
[Shredd] if both parties agree
[Shredd] upon renewal dates, a LOC bank may reduce or completely remove their protection
[Shredd] dinardoe that is the responsibility of a LOC bank to do their due diligence
[Shredd] if the Issuer has a good past payment history
[Shredd] good financials
[Shredd] etc,...
[Shredd] they will back it
[Shredd] if not, they will not guarantee just anything lol

Central Bank: Bank Governor authorization to reduce the exchange rate for the Iraqi dinar value

11/12/2012 03: 18
The CBI revealed the Governor authorization to reduce the exchange rate to strengthen the value of the Iraqi dinar.

A source at the Central Bank in a statement said singling out the Iraqi channel that authorization comes in the framework of the decisions taken by the Bank in connection with monetary policy and the stability of the market and encouraging Iraqi banks to open documentary credits and increasing the share of banking and remittance companies applied for help at an auction sale of currency.

http://www.microsofttranslator.com/bv.aspx?from=&to=en&a=http%3A%2F%2Fwww.imn.iq%2Fnews%

[player46] what does that mean to you? 
[player46] same as you were saying earlier? 
[Shredd] dinardoe we could "what if" forever.......there are controls in place and with a newly emerging Iraq, I've got to know they will have a careful eye on them for a while.
[player46] Shredd ... did you see my question? ^^^^
[dinardoe] ty ty
[Shredd] player46 that last sentence
[player46] yes.. 
[Shredd] auction sale of currency
[Shredd] tells us, yes, it's referring to the same 
[player46] ok just what you explained earlier.. ty
[Shredd] yqw, Shredd out....

ADAM MONTANA DISCUSSION, 12 DEC

[Adam Montana] First - happy Aaron Rodgers day!

[Adam Montana] I have a shopping date with my wife (she didn't get the memo that I don't Christmas shop until the 23rd) so I am going to keep this as brief as possible

[Adam Montana] There are ongoing talks about Chapter 7. Even though the Moon meeting went well last week, we have not seen that "stamp" come down yet

[Adam Montana] Shabibi is posturing as if he is not concerned about the warrants, but he is still conveniently "busy" outside of Iraq and has not returned home yet

[Adam Montana] In my opinion, he's stuck right now. He can yap all he wants about how baseless the warrant is, but facts are facts - Maliki is in control of the situation and Shabs is forced to sit and watch. Hopefully this is a good thing for us - there has to be a reason Maliki wanted Shabibi out of the picture for a while, and with the positive Chapter 7 and HCL news lately we can certainly hope an RV is on the horizon

[Adam Montana] One other thing I found noteworthy this week is Maliki selling a piece of his property. It's a 600 square meter property, and the price is 900 THOUSAND us dollars. 600 square meters is about .14 acres. POINT ONE FOUR - not fourteen! My thoughts on this... if you can get almost a million dollars for a property smaller than a baseball diamond, how "destitute" can Iraq's future really be? Think on that for a while

[Adam Montana] ok, questions! TG, fire away

[Adam Montana] uh oh... someone is kidnapping TexasGranny?

[TexasGranny] Luigi1 Recent articles of the Indonesian Rupeah RD in 2014 suggests a bunny-ear with no increase in the value or rate. The old & new currencies will co-exist for at least a year till the old bills are removed. Do you think at this late in the game, this could be a last minute possibility with the IQD?

[Adam Montana] whew! She's ok

[Adam Montana] I have two answers. 1. A bunny-ear or RD is always a possibility, but 2. Iraq is not Indonesia. Iraq is a completely different country in a different situation with different assets and a different future.

 [TexasGranny] BigBear I recently read that no RV has ever happened other than around the 1st of the year? IF this thing doesn't happen around Jan 1, 2013 are we on the wait until Jan 2014 in your opinion? THanks!

[Adam Montana] Hey BigBear - My answer is the same as the last one. Iraq's situation is different than any other country or situation anyone has ever seen before. We have no reason to bet they will follow the "guidelines" that other countries have followed in different situations.

 [TexasGranny] Candy01 Adam, What do you know regarding how the meetings with Ban Ki Moon went last week? Do you really think this time Iraq will be released from Chapter 7? If not this month, then when? Or if they pass the HCL, will Chapter 7 just be a rubber stamp after that?

[Adam Montana] It truly does look like Chapter 7 is a rubber stamp away from being done - with a resolution on the HCL, I can't imagine Chapter 7 will be too far behind! And they have indeed been releasing very positive news on the HCL

[Adam Montana] All in all - it's a positive outlook on those two matters.

 [TexasGranny] ladyGrace'sDaddy Good morning Adam, Thanks for all you do. I don't usually have a question but this time I would love to hear your take on a specific article. "Talabani and I made great efforts to build a new Iraq" In your opinion is this telling us that HCL has been agreed upon?

[Adam Montana] That's a tricky question - when you are trying to understand what a politician is saying, you have to drill down to the specifics. He didn't say they agreed upon the HCL, he just alluded to a positive conversation with Talabani. This tells me that he is still holding back, his position is reserved, and there is no concrete "YES IT IS DONE" statement. While there is nothing negative about it, I have to say "No" - it is not quite done.

[Adam Montana] Sorry to be negative on it, but I'm not here to blow smoke up anyone's skirt. Just telling it the way I see it

[TexasGranny] rockfl9 Hi Adam:: I have read on some posts that it is speculated that the CBI/MOF have been using the auctions to remove dinar from circulation ,but not reporting it in the financials? If true that would be a good thing why would they hide it?,,..What is your take on that ,. Thanks,

[Adam Montana] rockfl9, great question. This is something we should all be aware of and understand: The CBI and MOF is NOT transparent with their accounting or actions, and we do NOT believe the numbers they release. They tell us what they want us to believe, and that's it. There is no guarantee of truth when you hear or read about their reserves or any other accounting matter

 [TexasGranny] coorslite21 Adam......as always....thanks……(an) article discusses the reality that some major US oil companies are opting out of the Iraqi oil grab for various reasons. If China becomes the major foreign player in the Iraq oil industry.... pre RV... do you see this having any potential impact on us as investors?

[Adam Montana] I can understand how some people would get nervous... but let me ask you this. Is China interested in profits or losses? The answer is obviously profits, and China won't suddenly own our Dinar, so regardless of who the major players are over there - when Iraq gains, so do we.

 [TexasGranny] jaman Hey Adam,just one question if I bought my dinars through my company money ,do I own it or does my company ?or have they been gifted already?

[Adam Montana] If your company is a domestic company, it does not matter. There is no benefit to a domestic company owning the dinars. At the end of the year, gains flow through to the owner(s) of the company and taxes are paid just the same.

![TexasGranny] rope If Maliki is the holdup for the UN to withdraw Iraq from Chapter 7, will he need to be removed in order for that to happen? If so, wouldn't this be a set back till they replaced him? I realize there are more pieces to the puzzle than Chapter 7, but how can they be a independent country without the ability to defend themselves-which means removal from Chapter 7? It just seems that the revalue of their currency would need to be simultaneous with Chapter 7.

[Adam Montana] Hey rope, I have seen a few people talking about Maliki being the "hold up" - I disagree with that idea. Maliki has done more to move the country in position to RV than anyone else.

 [TexasGranny] vietnam1969 good morning adam, staff and fellow dv members. I am wondering if i joined this for the ride, to meet great people here in dv, or just love to be adventurous and take on the gamble of making any money at all. No matter how the final destination ends, i will feel like a winner hands down for i have met some of the most wonderful and amazing people i can imagine ever meeting and having the privilege of knowing.

The members are fantastic and you and your staff are on the know of it all. The mods are great and deserve a round of applause as well. Sure hope this train is coming to a stop pretty soon for i am out of questions to ask today. Oh, i have one. Just how hard was the session 65 test? Thanks for supplying us with all the up to date news and for all your time watching over us.

[Adam Montana] vietnam, I can't agree more with you - the community here is amazing and I have developed friendships with people that I would have never met if it weren't for the dinar and dinarvets.

[Adam Montana] The 65 wasn't too bad - it's harder than most of the others (7, 63, etc) but if you take the time to study and learn the material it's like anything else. Apply yourself and succeed.

 [TexasGranny] Saint Adam, Who are the Patriots going to play in the Super Bowl???? You think your Packers are going to be healthy enough. Just saying. Any more news concerning the rate and date as Christmas is almost upon us. My stocking is already hung and hoping Santa exchanges my Dinar with Dollars so I don't have to make a trip to the bank nor tell the IRS. Just a thought. Go Rrrrrrrrrrrrr Vvvvvvvvvvvv By the way thanks to you and your staff and for all the mods who keep us in line . Merry Christmas and a Happy New Year to you and yours.

[Adam Montana] Merry Christmas and Happy New Year to you too!

[Adam Montana] I just checked my crystal ball and the battery died before it could tell me who plays in the super bowl

[Adam Montana] ok, one more. next please!

[TexasGranny] jeepguy hey adam thanks for keeping all in touch ,,,, i would like to applogize to the dinar vets land ,,, i said the rate on 12/12/12 would be 1.20 -----> dear lord i didn`t think they would do it in euro`s ,, sorry folks next time i`ll do it in u.s. currency ,,,, thanks again adam

[Adam Montana] Thanks jeepguy. On that note, I'm off to help the wife stimulate the economy by burning up one of the credit cards. You all have a great day!

HISTORY REPEATS ITSELF ALWAYS IN SOME FORM, 12 DEC

LADIES & GENTS: IMHO, HISTORY REPEATS ITSELF ALWAYS IN SOME FORM. SILVER & GOLD COINS (PREFERABLY CULLS, WHICH ARE MEDIUM TO VERY WORN) ARE EXCELLENT FOR EMERGENCY USE DURING TIMES OF UNCERTAINTY. IF YOU HAVE THE BUCKS FOR BETTER COINS: STOCK UP WITH SILVER DOLLARS, KUGERRANDS, PANDAS, EAGLES.

I HIGHLY SUGGEST ONE TO CONSIDER BUYING NOW (PRE OR POST CURRENCY EXCHANGE) ENOUGH SILVER AND/OR GOLD COINS TO FEEL 'COMFORTABLE'. STAY AWAY, IMHO, FROM PAPER CERTIFICATES OR STOCKS OF SILVER/GOLD. ONE WANTS THE PHYSICAL COINS IN HAND FOR EMERGENCY/RAINY WEATHER SITUATIONS. I SUGGEST A 3-5% PHYSICAL HOLDING OF THESE COINS DUE TO THE CIRCUMSTANCES WHICH ARE CURRENTLY FACING CITIZENS HERE IN THE USA & ABROAD.

YOU FILTER, YOU DECIDE. IMHO, GOLD CAN EASILY RISE TO $3,000 AN OUNCE WITHIN DAYS/WEEKS DUE TO SITUATIONS, COMPLICATIONS WE ARE NOW FACING WITHIN THE USA & WORLDWIDE. THESE COINS WILL BRING SOMEWHAT PEACE OF MIND KNOWING ONE IS 'PREPARED AND DIVERSIFIED'. PERSONALLY, I AM TOTALLY OUT OF THE STOCK MARKET. OUR MANNA COMES FROM THE HEAVENS SOON. BLESSINGS BULLDOG

IF WE DONT SEE IT THIS WEEK , OUR BLESSING WILL COME NEXT YEAR, 12 DEC


[WILDDUCK] nolaspice more good news then bad, think this deal has been rolling out of sight all week. Most all Guru's have positive no negative, that what we see as well, jsut not seeing the ability to do anything just yet. The only negative was Barry supposedly ASKING  wait till Janurary

[WCW] gretco some are saying today we wait and s this is our week

 [BLESSME] WilDUCK any good news

[WILDDUCK] Blessme see above

[WILDDUCK] WCW yup your in the pocket

 [nolaspice] WILDDUCK i know that january seems like and eternity - but if we just had a real back wall - we would all be able to breathe and hold on - so many arent as fortunate as me to have a great job and a wonderful family - it breaks my heart cause so many are hurting!

[dwg14] WILDDUCK so hurry up and wait right lol

 [WILDDUCK] nolaspice missed the point was aking IMF to hold up, ASKING not telling
[WILDDUCK] dwg14 what's changed. its the gov

[jm44] WILDDUCK Hopefully they told him to put his request where the sun doesn't shine.

[BLESSME] WilDDUCK and WCW thanks!! I'm praying for today!

 [KajunRedBull] jm44 They pretty much did!

[dwg14] WILDDUCK no really they are still the same no matters who in office lol

 [WILDDUCK] dwg14 same club different franchise

 [KajunRedBull] jm44 and then China told him to pay up....they are putting the heat on him for their money..

[thudz04] WILDDUCK thank you for sharing the info you have. I appreciate it. I hope the IMF denied his request :)

[jm44] KajunRedBull I hope they will really put it to him so we can get this done. So many, including my family, need this in the worst way.

 [dwg14] WILDDUCK yep... lol well really hope it is this week ... but that statement's getting as old as soon

 [deniseanderson] thudz04 I missed what I can't scroll up far enough what request and who thanks

 [thudz04] deniseanderson O asked the IMF to hold off on the RV until January per WILDDUCK

sananddan24] could someone repost Wildduck statement?

 [WILDDUCK] thudz04 THE POINT was ASKING is not demanding,

 [bryan1972] WILDDUCK good point maybe the answer was no!!!

[okrocks] WILDDUCK suppose the IMF will go ahead in the next few days

[thudz04] WILDDUCK right I just hope the IMF exercises their right to deny his request

 [sananddan24] WILDDUCK could you repost your statement for those of us on cell phones it scroll up too fast

[findmoney] Does anyone here really know what the IMF does?

[RFrost] findmoney is there a punch line coming with that statement?

findmoney] The IMF loans money to 3rd world countries to build infrastructure.

[rustyc] hello castle any news on VND is it active or not?

 [WCW] well that is what i have been telling ya ll thats going on we get a go light and o turns it red and it is out of our hand s so like i have said if IF we dont see it this week u all will know our blessing will come next year i am praying for this week thank u all and i love yall

jetpack] WCW your sources feeling 50/50 this week I assume

[sandytob] WILDDUCK who was asking the IMF to do what? Can you repost your statement please?

[RFrost] WCW I havent play red light, green light since grade school....and I am not enjoying any more now than I did then lol

[nolaspice] WCW cant we call the department of public works and have them change all the bulbs to green! lol

[WILDDUCK] gotta run, it is all Good, prayer is helpful, and no red lights today, things seem to be trying to go, again across the dinarian spectrum more hopium by 98% to nopium. Remember this is not a lottery it is a world wide reset with human moving parts.

nolaspice] WILDDUCK thanks my friend - you are a blessing! hope to see you soon!

[WILDDUCK] will do, real world job calling .bye

[deniseanderson] how many times have we heard that O wanted to stop it for this or that and he always gets his way if know one has the backbone to stand up to him we will never see this RV next year will be a different day same old stuff JMO

[deniseanderson]  from my understanding O ask IMF to put it off till first of year again

Breitling Report Wednesday 12/12/2012.avi

The rate will be $.86 … about $1.17 when you cash out, 12 DEC

The rate will be $.86 … about $1.17 when you cash out

12-11-12 Frank26: Next week Kuwait is coming in to Bagdad to ask the UN to release Iraq from Chapter 7, it has been 10 years. Next week some powerful things are about to happen to lift them of the shackles & will allow them to enter into the international world and the only way they can enter is with an international currency value.
They are about to increase their value. To what value? They are going to lift the 3 zeroes from their exchange rate, which is about .000859 and quickly move the decimal to the right and the rate will be $.86, a little more in the end in the U. S. of America, about $1.17 when you cash out. Do you see why everyone is excited right now? They are telling us they are about to raise the rate of their currency.

REDUCE EXCHANGE RATE DISCUSSION, 12 DEC

KAPERONI:  Ok, I have studied these articles and some checking.  There are two main highlighted areas  One good and one bad.   Let me explain what I believe is going on...

#1 Alsumaria news/Baghdad

The Central Bank announced, Tuesday, to allow banks to open documentary, alaatmadt also decided to increase the share auction downloads and given to bureaux de change and remittance, and adopted a resolution authorizing the Governor to reduce the selling price of the dollar as the market requirements.  LINK

#2 Central Bank decides to allow Iraqi banks to open letters of credit

12/11/2012 - 2:26 pm

Central Bank of Iraq, Tuesday, allowing Iraqi banks to open documentary Alaatmadt, while also decided to increase the share of the weekly auction and given to the exchange companies and money transfer, also adopted a resolution authorizing the Governor of the Bank to reduce the sale price of the dollar as the market demands.  LINK
  #3 Central bank: authorize the Governor of the Bank to reduce the exchange rate to enhance the value of the Iraqi dinar

11/12/2012 03:18

Revealed CBI authorize the Governor of the Bank to reduce the exchange rate to enhance the value of the Iraqi dinar.A source at the central bank said in a statement singled out Iraqiya that authorization comes in the framework of the decisions taken by the bank on monetary policy and the stability of the market and to encourage Iraqi banks to open letters of credit and increase the share of banking companies and financial transfer applicable to the instructions in the auction currency.  LINK

#4 All banks licensed to open letters of credit and funded by the Central Bank of Iraq according to a mechanism designed for this purpose,

The statement noted that "the Board of Directors authorized the Iraqi Central Bank Governor the power to reduce the sale price of the dollar and of 1179 dinars to the dollar to enhance the value of the Iraqi dinar based on market demands."  LINK
 
KAPERONI:  
Ok, I have studied these articles and some checking.  There are two main highlighted areas above.  One good and one bad.   Let me explain what I believe is going on...

 1.  "all banks licensed to open letters of credit and funded by the Central Bank of Iraq according to a mechanism designed for this purpose"

 This is potentially very bad.  This appears to be Maliki's way to get the CBI's reserves.   What he has come up with is for the local banks to "open letters of credit" guaranteed by the CBI.

In other words, the CBI is now in the business of guaranteeing loans and it's reserves are the guarantee.  This IMO, effects the reserves of the CBI as they now become the collateral for these "open letters of credit."

If I am correct, Maliki could initiate some loan through a local bank (through some fictitious company) and default, thus making the CBI spend it's funds to reimburse the local bank.  He clearly is very clever finding ways to get access to the reserves of the CBI. 

The question will be, will the IMF and WB allow this?   Steve (Enorrste) does not seem to think so.   I not so sure.  The problem with this is it would clearly effect the value of the dinar.

 2.  "the Board of Directors authorized the Iraqi Central Bank Governor the power to reduce the sale price of the dollar and of 1179 dinars to the dollar to enhance the value of the Iraqi dinar based on market demands." 

This appears to be confirmation that the CBI is going to move forward with a free float.   They are going to let "market demands" (float) dictate the rate of the dinar as we stated.  It appears it will start at the current CBI rate and rise.  This authorization is very good news and hopefully we will see something soon.


CARRELLO:   Other than final divorce papers, Iraq is the only thing that has made me giggle and cry at the same time. One question:  If Dr.Shabibi was going to go ahead and  free float in an effort to go around Maliki, why would the current Governor need to gain authority?  Because he is not in a permanent position?    Thanks for all the information and thoughts.

TERRY:
 away with that.  It is just too transparent what would happen.  When has a Central Bank ever let their credit (reserves) be put at risk?

   re no. 2-" market demands " sounds pretty darn good.  I hope the float can happen even though the letters of credits doesn't happen. We shall see.

ELLIE:
  Thank you Kap for explaining this article!  :)  It does sound like the float could be "rolling round the bend" (lol epophroditus).  I tend to agree with Steve though about the WB and IMF not allowing the "bad news." Miss Sherry - please move to Colorado - I am here :) lol

KAPERONI: 
I did get this from Kirk, pertaining to this article...

No, it translated well enough, the problem is the Arabic version. Did a quick search and it looks like they didn't take their time with it - longer articles phrased it differently.

It isn't the Dinar they plan to weaken, rather the Gov has been given the authority to lower the price of the dollar - that's why it would strengthen the Dinar.

I presume this would go with the increased supply of dollars - it would make it easier for merchants to buy dollars since it is devalued against the dinar. 

But note that in other articles I've seen, this is just one item mentioned near the bottom, it is not emphasized. The increased dollar sales is the true news here.    Kirk

WN:
  Kap, you hit the nail with your head, oh wait, too much time in Colorado. There is no way the IMF, WB etc. would back the obvious Malimonkey business with the LOC.  I wonder how we will know about he float when it happens? My eyes ara crossed in anticipation.

CAPTAINSTRIKEDOWN:
  Kap, I apologize for having a hard time understanding Kirk's points in relation to your two points made earlier. Could you please reconcile the two. For example, is the increased dollar sales a problem with respect to our investment? Is it still likely that the article suggests an imminent float? Thanks

KAPERONI:
  Captain, Kirks view is good because it confirms they are going to pump more dollars into the market.  Which for all practical purposes should remove more dinar.

OLDWAZHISNA:
  Not all letters of credit act as "guarantees of loans".  In international trade, they serve a critical role in making international trade work by allowing goods to be shipped across borders.

 There are two types of letters of credit: a "stand-by letter of credit" and a "trade letter of credit".  The first acts as a third party guarantee for an agreement between two parties (hence a "stand-by" where the bank will provide monies if the primary obligor fails).

This is the one that Kap should rightly fear that the Central Bank ought not to engage in.

 A country's central bank is absolutely the wrong financial institution to be issuing these.

However, the trade letters of credit may be something of a logical financial instituion for the CBI to help the the opening of trade in an Iraq trying to emerge from being a third world country.  They are the only banking company operating in Iraq with enough resources and credibility to operate on behalf of Iraq interests what is probably an otherwise vaccum to facilitate trade.

 Trade letters of credit, if done right, have much less risk than the stand-by type.  Banks that accept letters of credit are taking mostly currency risk if they only accept the transportation documents that drive the transaction and have been truly verified as  to their validity.

It is true that in other countries, these types of transactions are typically handled by large international commercial banks but just as importantly they have to have a presence in the country to work smoothly.  Maybe the CBI is a temporary stand-in until a better commercial banking operation is functioning in Iraq.  I don't neccessarily see this as a Maliki-driven money grab.

GAINSMORE: 
there will not be a CBI if they start directly lending to the regional banks- this will not stand. It appears Maliki will go to great lenths to see the west not profit from this rv- which,imho- is one of the main reasons why he keeps tackling the idea. Would have been a great defensive linebacker....

BLUEYESINLEVIS: 
    Very logical and informative post.. OLdWAZ.

Gainsmore.. I seriously doubt Maliki cares one whit about the West and the investment. he is all about power and control and holding onto that  power and control.

URGENT URGENT URGENT FROM IRAQIA TV CBI GIVE THE GOV OF THE CBI (TURKI) THE POWER TO IMPROVE THE VALUE OF IRAQI DINAR., 12 DEC

12/11/12  DELTA: URGENT URGENT URGENT FROM IRAQIA TV
CBI GIVE THE GOV OF THE CBI (TURKI) THE POWER TO IMPROVE THE VALUE OF IRAQI DINAR.
DELTA


Central bank: authorize the Governor of the Bank to reduce the exchange rate to enhance the value of the Iraqi dinar
Revealed the CBI for authorization bank governor validity devalue in order to enhance the value of the Iraqi dinar. source at the central bank said in a statement singled out Iraqiya that authorization comes in the framework of the decisions taken by the bank on monetary policy and the stability of the market and to encourage Iraqi banks to open letters of credit and increase the share of banking companies and financial transfer applicable to the instructions in the auction currency.
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