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DINARESGURUS.BLOGSPOT.COM_________________ _______

Saturday, March 23, 2013

WCW UPDATE, 24 MARCH

WCW] well i think everyone just needs to be happy next week could be our last week on this ride we are almost there

[duffy2] Well, not much info today, but we sure are all looking forward to Monday with anticipation. I am listening to a CC with Zorra and some person came on and asked: I am holding the Iraq Dinar and I am wondering if I should get rid of it or keep it. First of all: What a stupid question. His reply was: Hold on to it as it is very IMMINENT. Nuff said I guess.

TK UPDATE, 23 MARCH

Terryk  - Hey all What's going on I'm remote
Hearing marshals are out delivering we are to see this on foes tomorrow night. AGAIN Forex So wanted to share that with u all, having laptop worked on since it locked up yesterday...go figure

COME A NEW FINANCIAL SYSTEM, 23 MARCH


CarrolBeams] hi..thought you all might want to see what another friend of mine wrote:>>written by Cxxxxx Sxxxxx: 

The FED is NOW FINISHED....it has simply not been revealed to us. It is now being run by the Dragons in their gameplan to restore financial balance with countries and banks now becoming compliant with Basel 3 stipulations. We are now moving away from the Fiat paper money system to currencies now moving to be backed by resources which makes sense.

No more just printing money.

This will allow all of us more buying power. There is nothing to worry about with this new system as you will not lose what you have in your accounts/savings/pensions although expect some major turbulence in the stock markets very very soon... (we are already seeing this in Asia). We will be seeing the removal of INCOME TAX which is an illegal tax used in its current capacity.

There is a good chance of back payments of this tax back to the people using their SS no's with a re-calculated rate. After the GLOBAL ECONOMIC RECOVERY PLAN (important) is announced by CL(IMF)/Lew or Obama we will hear about certain NESARA features being released as some forms of Debt forgiveness will be announced. 
We will also have the release of the new UNITED STATES TREASURY NOTE that I believe has potentially already been shown to the sheeple in one of their favourite mind numbing shows NCIS.

As I’ve said before this is a new finanical system and will be rolled out WORLDWIDE so you can imagine how big this Project has been. I work with people who manage billion dollar projects and I can tell you NO BIG PROJECT ever finished bang on time...there are always slight delays and tweaks that need to be applied. They cannot unveil whats happened until everything is ready to go and the old system swaps over and transitions to the new one.

 It can be tough to be awakened to this info at times when you see so much unnecessary poverty and you KNOW what is around the corner but the rewards will be worth it for all. There are 194 currencies ready to revaluate and as ive said before the two best from an investment perspective is the IQD Iraqi dinar and the Vietnamese dong VND. Do not expect there to be much fanfare on mainstream TV when the CE (currency exchange) happens as they have kept this from the people for good reason. If everyone knew what the people who were awake to this change knew then everyone would have bought currency.

Remember what ive said before about the USA owning approx 3.7 trillion IQD in their reserves? Now why would they need that worthless currency just sitting in their reserves? hmmmm Bush always said the Iraq war would 'pay for itself'. Guess he got something right but the cabal boys wont be able to enjoy the spoils of a cash in during the CE as they will need to prove where they got their IQD....People say 'nah, its too good to be true...' and doubt any information that is not presented by their accustomed information ports. Too good to be true i say? Well what about Kuwait after Saddam invaded and their currency was worthless?

They RV the Kuwait dinar back up to $3.60 USD. It is now approx $4 USD yet Iraq's is .00005 or something worthless. Why when Iraq is richer, bigger and has crude oil easily accessable for drilling whereas most oil found nowadays requires for expensive off-shore drilling is the IQD so worthless? Well now they are getting ready to RV with their application to enter the WTO and have the Chapter 7 sanctions lifted by Kuwait and Ban Ki Moon at the UN. So the world waits for 9 million new rich people, for the global settlemets, the colateral accounts, the St Germain trust and grants, the Wanta Regan funds, the announcements and the arrests which will SHOCK THE WORLD so get ready to WAKE UP

[CarrolBeams] anyway...that'is it

DINAR GURUS UPDATE, 23 MARCH

3-23-2013  Newshound Guru Med   JUST CUZ THE OVERALL SUCCESS MAY TAKE TIME DOES NOT MEAN THEY CANT REVALUE.  PROGRESS IS ALL THE WORLD IS WAITING FOR.   IRAQ HAS ENDLESS POSSIBILITIES AND TO BE TRUTHFUL IF AMERICAN COMPANIES ARE NOT LICKING THEIR CHOPS AT THE OPPORTUNITY WHEN IT ARRIVES THEN SHAME ON THEM.   

3-23-2013  Newshound Guru Med   CHINA CREATED ONE OF THE TIMES IT WAS PUT ON HOLD WHEN THEY WERE BANNED FROM BIDDING ON THE OIL FIELDS BECAUSE OF OWNING A FORMER SWISS COMPANY WHO WAS IN KURDISTAN ILLEGALLY ACCORDING TO THE GOI AND BECAUSE THEY WERE STILL DOING BUSINESS IN KURDISTAN THEY WERE BANNED FROM ANY BIDDING.   BUT, PROBLEM WAS CHINA HOLDS TRILLIONS AT THAT TIME IN DINAR... BUT IRAQ DIDNT HAVE THE FUNDS.  

3-23-2013  Newshound Guru Med   WHAT THEY ASKED WAS WOULD THE U.S. BACK THE DINAR WITH THE FULL FAITH AND CREDIT OF THE UNITED STATES OF AMERICA.   WE SAID YES  BUT THEY HAD TO IN TURN, TURN OVER ALL THE GOLD THAT IRAQ HELD AS COLLATERAL.  THEY WOULD NOT DO IT  SO IT ENDED UP A WASH.  

3-23-2013  Newshound Guru Med    OVER TWO YEARS AGO IRAQ WANTED TO REVALUE.   THE ACTUAL VALUE OF THE DINAR WAS DELIVERED TO ALMOST EVERY INSTITUTION IN THE U.S.   MALIKI...WANTED THE OLD RATE.  WHAT WAS DELIVERED WAS THE RATE OF EXCHANGE.   IT WAS DELIVERED IN SEALED ENVELOPES AND PUT AWAY.   THEY WERE TO BE OPENED ONLY BY THOSE WHO NEED TO KNOW WITH INSTRUCTIONS.  

3-23-2013  Newshound Gurus Bondlady & Shredd    huge things being set in place by not only the IMF but also the WTO.... such awesome news in this article from the IMF that came out yesterday... yes yes yes and what comes with a "Free Market Economy" by definition? an internationally recognized currency.  remember the source...This is such a wonderful confirmation and report card of where Iraq is, what goals are in front of them and the projections the IMF sees in Iraq!!

3-23-2013  Intel Guru Frank26   We have been looking today for an extension of the Standby Agreement.  There isn't any.  They have entered the one way street to revalue their currency.  They've got the green light.  This is huge.  Now, it's up to Iraq to follow through within 30 days, 30 days or less.  If not in 30 days, it kicks in anyway.  It's a one way street.  Iraq has the green light to allow them to release the rate & we believe that it will be done in the budget sometime next week, possibly even this coming Sunday.  

3-23-2013  Intel Guru Frank26   They got the green light to lift the value of their currency.  It's done.  Article 4 is the permission to raise the value of their currency and they are about to do that next week through their budget and the following week Kuwait is coming to say "congratulations" here is the key to Chapter 7.  

3-23-2013  Intel Guru Frank26    Article:  "IMF mission concludes Article 4 discussion with Iraq"   Article 4 is the key to their shackles, Chapter 7.  In the last 10 days the IMF met with the GOI and the CBI.  They accepted everything presented to them to have approval to raise the value of their currency.  This was the key to their shackles, it's called Article 4.  The IMF needed 85% of it's members to raise their hands and say they allow Iraq to increase their exchange rate and the got it.  They now exit from, from the IMF, Article 14, accepted through Article 4, to enter International status of Article 8.  

3-23-2013  Newshound Guru Bondlady & Shredd   inflation has been kept in check also due to the monetary policy, inflation was contained at 6 percent, and we project it to decline slightly next year. I also wanted to conclude this last part of the paragraph  "CBI reserves reached US$70 billion at the end of 2012, while the Development Fund for Iraq (DFI) rose to US$18 billion". so the CBI has 70 billion in reserves and 18 billion in the dfi fund 88 billion, huge reserves for sure...yes, that's not a LOP country with those kind of reserves.  
3-23-2013  Newshound Guru Bondlady & Shredd   a very encouraging summary by the IMF follows:  "Iraq managed to maintain macroeconomic stability over the past two years and "rising non-oil activity"  We expect activity to accelerate further to 9 percent in 2013, as oil production increases from just under 3 million barrels per day (mbpd) in 2012 to 3.3 mbpd in 2013." perfect confirmation of Iraq's strength....from the IMF!  
3-23-2013  Newshound Gurus Bondlady & Shredd   Press Release:  "An International Monetary Fund (IMF) mission, led by Mr. Carlo Sdralevich, met with an official Iraqi delegation headed by the Acting Minister of Finance, Dr. Ali Al Shukri, in Amman, Jordan, during March 2-12, 2013 to conduct the Article IV Consultation discussion."    this document comes straight from the IMF and its discussing article 4 of the IMF.  it was nice to see from the IMF that "Following the recent expiration of the Stand-By Arrangement ..."  we felt like it had expired but there wasn't anything in print before now.

FRANK26 UPDATE, 23 MARCH

3-23-2013  Intel Guru Frank26    Article:  "IMF mission concludes Article 4 discussion with Iraq"   Article 4 is the key to their shackles, Chapter 7.  In the last 10 days the IMF met with the GOI and the CBI.  They accepted everything presented to them to have approval to raise the value of their currency.  This was the key to their shackles, it's called Article 4.  The IMF needed 85% of it's members to raise their hands and say they allow Iraq to increase their exchange rate and the got it.  They now exit from, from the IMF, Article 14, accepted through Article 4, to enter International status of Article 8.

They got the green light to lift the value of their currency.  It's done.  Article 4 is the permission to raise the value of their currency and they are about to do that next week through their budget and the following week Kuwait is coming to say "congratulations" here is the key to Chapter 7.

We have been looking today for an extension of the Standby Agreement.  There isn't any.  They have entered the one way street to revalue their currency.  They've got the green light.  This is huge.  Now, it's up to Iraq to follow through within 30 days, 30 days or less.  If not in 30 days, it kicks in anyway.  It's a one way street.  Iraq has the green light to allow them to release the rate & we believe that it will be done in the budget sometime next week, possibly even this coming Sunday.  

CARROLBEAMS UPDATE 12:26 PM, 23 MARCH

CarrolBeams 3/23/2013 @ 12:26 pm EST
[CarrolBeams] I am not going to say much..or answer any questions..but there's nothing left to do but wait...and perhaps be looking for Legard announcements tonight when all global banks are closed..which I believe..is between 
[CarrolBeams] dang..sorry..need the rv and a new pc..wore this one out.but look between 9pm and 3am est
[CarrolBeams] ok..that's it..DONE.. 
[CarrolBeams] bye 

CARROLBEAMS UPDATE, 23 MARCH

[CarrolBeams] good morning everyone

[js86901] CarrolBeams so what's the good word this morning?

 [CarrolBeams] someone just told me on line..so it's out there..that LaGard gave the green light for the dinar rv

[js86901] CarrolBeams a good source?

[powerprofits] CarrolBeams I heard that last night too

[CarrolBeams] he heard it on Franks call

[js86901] CarrolBeams i must of gotten off too early on the call. I stayed about an hour and twenty minutes in

[CarrolBeams] I missed a late night phone call because I crashed..but my gut says its probably related

[powerprofits] CarrolBeams And if they dont do it right away, it will go automatically in 30 days

 [CarrolBeams] I got that Tomorrow song stuck in my brain

 [rich17] CarrolBeams Are the banks going to be closed today for the beginning of the 3 day bank closure?

 [CarrolBeams] hmm..me thinks since all world banks close sat night..might..MIGHT be mon/tue/wed..nothing written in stone

 [rich17] CarrolBeams Do you believe the 3 day bank closure is still a necessity? Or is it possible for the RV to come in quietly under the radar?

 [CarrolBeams] rich17 probably necessary

[CarrolBeams] IMF has given the green light to Iraq to RV. Kuwait coming to Iraq next week.......listen to the call. 6 to fast forward during call. 

[CarrolBeams] ^^^franks call..and message I got

[powerprofits] CarrolBeams And the Kuwait PM said he wouldn't come to Iraq until they RV'd - His visit is scheduled for April 1

 [CarrolBeams] want the call in number?

[rich17] CarrolBeams Yes please

[rcge] Frank had a lot of very good information really makes you think

[powerprofits] Franks call (760)569-7699 pin 156996#

[salandra] thanks for sharing Carrol! 

3-23-2013 Frank26 Article: "IMF mission concludes Article 4 discussion with Iraq" Article 4 is the key to their shackles, Chapter 7. In the last 10 days the IMF met with the GOI and the CBI. They accepted everything presented to them to have approval to raise the value of their currency. This was the key to their shackles, it's called Article 4. The IMF needed 85% of it's members to raise their hands and say they allow Iraq to increase their exchange rate and the got it. 

They now exit from, from the IMF, Article 14, accepted through Article 4, to enter International status of Article 8. They got the green light to lift the value of their currency. It's done. Article 4 is the permission to raise the value of their currency and they are about to do that next week through their budget and the following week Kuwait is coming to say "congratulations" here is the key to Chapter 7. We have been looking today for an extension of the Standby Agreement. There isn't any. 

They have entered the one way street to revalue their currency. They've got the green light. This is huge. Now, it's up to Iraq to follow through within 30 days, 30 days or less. If not in 30 days, it kicks in anyway. It's a one way street. Iraq has the green light to allow them to release the rate & we believe that it will be done in the budget sometime next week, possibly even this coming Sunday.

[js86901] CarrolBeams so if it is out of Iraqs hands then do you believe this was all just prompted by the IMF and USA making everyone think it was Iraq all along?

[rich17] CarrolBeams You mentioned "the green light to Iraq to RV"...You still think there is going to be a basket of currencies going at the same time...and is the dong in the same basket?

 [CarrolBeams] rich17 yes

CarrolBeams] js86901 it was always The Dragon in charge

 [rcge] CarrolBeams do you beleive that the first basket will be spread out over a period of time? so me might be able to double dip on the dong?

[THJ] CarrolBeams So the pecking order for the events to come would be RV, Chapter 7, the Nesara?

 [CarrolBeams] rcge no double dipping

[CarrolBeams] THJ yes

[rich17] CarrolBeams Announcements? You still think it is necessary for CL or Jack Lew or anybody to make an announcement first...or can this thing just arrive based on IMF articles and things that have recently been communicated?

[CarrolBeams] rich17 don't think we need more..Kuwait rv'd w/o fanfare

[turkeyhtr] Carol beams, will we see an announcement from emergency broadcast system?

[CarrolBeams] turkeyhtr however..for bank holidays..and nesara..will need announcements

 [CarrolBeams] supposed to get one hour of information everyday for 30 days on changes..and perhaps some uncomfortable history

[THJ] CarrolBeams I guess the biggest question is when do you see NESARA starting to show?

[THJ] CarrolBeams Wouldn't the three day bank holiday be related more for the new US currency and the Nesara start?

[CarrolBeams] THJ probably

[rich17] CarrolBeams Good deal. So we could possibly RV and cash in without announcements, bank closures, military presence....and that all come later with nesara

[CarrolBeams] supposed to get one hour of information everyday for 30 days on changes..and perhaps some uncomfortable history

 [CarrolBeams] rich17 no

[Precious] CarrolBeams is the 3 day holiday related to Iraq..I have always heard that..and they are on holiday now

[CarrolBeams] Precious more than that

[CarrolBeams] can't say much till I am told I can

[Precious] ty

[rich17] CarrolBeams No to which part? What did I miss? Thank you for your clear answers this morning.

[CarrolBeams] not just about Iraq

[MikeH] CarrolBeams the CBI did not update there site on Thursday which they normally do. the next update is Sunday I think we will see the new rate then. the CBI normally updates there site Sunday through Thursday closed Friday and Saturday. 

 [CarrolBeams] MikeH you're very smart

 [anteup] CarrolBeams what will the wording on the clean & clear documents say?

[ [anteup] is it just a standard document that the banks have?

[CarrolBeams] anteup it says that your money and it's sources are clean..not dirty drug money

 [anteup] CarrolBeams ty..:)

 [CarrolBeams] anteup you know..it was my mentor who told me about ccc's..others say we don't need them

 [anteup] CarrolBeams it makes a sense to me for protections down the road

 [CarrolBeams] be back later..coffee time

[mikivi] CarrolBeams Good morning sweety coffee1 ...Short and sweet : We are are going to cash in..next week ?

[CarrolBeams] mikivi you will be making appts as they become available through call centers

 [CarrolBeams] ok..now I'll dash..be back later..hugs

DISCUSSION OF BLD & SHREDD, PART 1, 23 MARCH

BondLady] Good afternoon Bondlady's corner !! Ms timmy Shredd and I have been working hard in our research for our members and we want to keep every one up to date and informed as much as possible in this investment.

We are not about rumors or intel we deal only in fact and it doesn't get much better than the facts were about to bring to our members by our most awesome team so without further ado here we go...please know this is long and will require reading and thinking

[BondLady] lets begin:

[BondLady] IMF Mission Concludes Article IV Discussions with Iraq Press Release No. 13/87 March 21, 2013 An International Monetary Fund (IMF) mission, led by Mr. Carlo Sdralevich, met with an official Iraqi delegation headed by the Acting Minister of Finance, Dr. Ali Al Shukri, in Amman, Jordan, during March 2-12, 2013 to conduct the Article IV Consultation discussion.

The IMF mission met with the Acting Minister of Finance, the Acting Governor of the Central Bank of Iraq (CBI), head of the Board of Supreme Audit, AbdulBasit Al Turki Said, and other Iraqi officials from the ministries of finance, planning, and oil, and representatives from the Central Bank and the Board of Supreme Audit.

The team also met with representatives from the Iraqi banking and business community. At the conclusion of the mission, Mr. Sdralevich made the following statement: “Following the recent expiration of the Stand-By Arrangement with Iraq approved in 2010, the IMF is committed to continue close collaboration with Iraq to support its development and help the government improve the social conditions and employment opportunities of Iraqi citizens. 

“Despite a difficult security and political environment, Iraq managed to maintain macroeconomic stability over the past two years. On the back of rising oil production and robust non-oil activity, economic growth has remained strong at about 8 percent in 2012.

We expect activity to accelerate further to 9 percent in 2013, as oil production increases from just under 3 million barrels per day (mbpd) in 2012 to 3.3 mbpd in 2013. In 2012, inflation was contained at 6 percent, and we project it to decline slightly next year. On account of strong oil proceeds, CBI reserves reached US$70 billion at the end of 2012, while the Development Fund for Iraq (DFI) rose to US$18 billion.

http://www.imf.org/external/np/sec/pr/2013/pr1387.htm

[BondLady] this document comes straight from the IMF and its discussing article 4 of the IMF. This round table discussion is open now anytime your ready timmy and shredd and thank you both for helping me and our members

[BondLady] nice line up for this meeting huh

[Shredd] first of all, it was nice to see from the IMF that "Following the recent expiration of the Stand-By Arrangement ..."

[BondLady] right

[tlm724] confirms the conclusion

[Shredd] so I know some have questioned that so let's put that to bed

[BondLady] we felt like it had expired but there wasn't anything in print before now

[Shredd] a very encouraging summary by the IMF followes: Iraq managed to maintain macroeconomic stability over the past two years and "rising non-oil activity"

[BondLady] We expect activity to accelerate further to 9 percent in 2013, as oil production increases from just under 3 million barrels per day (mbpd) in 2012 to 3.3 mbpd in 2013.

[Shredd] right again, perfect confirmation of Iraq's strength.....from the IMF!

[tlm724] thats the big dogs

[BondLady] and inflation has been kept in check also due to the monetary policy, inflation was contained at 6 percent, and we project it to decline slightly next year. I also wanted to conclude this last part of the paragraph above" CBI reserves reached US$70 billion at the end of 2012, while the Development Fund for Iraq (DFI) rose to US$18 billion". so the CBI has 70 billion in reserves and 18 billion in the dfi fund 88 billion, huge reserves for sure

[Shredd] yes, that's not a LOP country with those kind of reserves

[BondLady] right

[BondLady] While we welcome the achievement of a budget surplus of about 4 percent of GDP in 2012, largely due higher-than expected oil revenues, the execution of the 2013 budget should be aligned with available financing and provide for the accumulation of adequate fiscal buffers in the DFI, which suggests to target a budget surplus in 2013.

 Public financial management should be strengthened, notably by phasing out off-budgetary spending practices and reliance on state-owned bank financing to support public enterprises. Approval of additional spending commitments during the fiscal year should also be avoided.

“Financial sector policies are improving, but more remains to be done. The CBI’s ongoing efforts to refine monetary policy instruments, strengthen banking supervision, and accelerate the restructuring of the banking system are crucial. In this respect, the recent steps to clean up the balance sheets of Rasheed and Rafidain in preparation for their restructuring and recapitalization are key.

The CBI should also take measures to gradually liberalize the provision of foreign exchange through its auctions, with the objective of avoiding in future the turbulence experienced by the market in the past year. “Iraq will need to address serious medium-term challenges in order to be able to create the conditions for high and sustainable growth that is necessary to improve the living standards of its people.

The economy continues to suffer from severe structural weaknesses such as a small nonoil sector, high unemployment, public sector dominance, and a weak business environment. In this context, we discussed the role of economic policies in leveraging Iraq’s potential and creating an enabling environment.

[Shredd] next we see goals: phasing out off-budgetary spending practices and reliance on state-owned bank financing to support public enterprises "reliance on state-owned bank financing" so, just like I've been saying,,,,moving to the public enterprise for financing a recognized goal from the IMF and nice confirmation of what we have been watching for and another goal here: The CBI’s ongoing efforts to refine monetary policy instruments, strengthen banking supervision, and accelerate the restructuring of the banking system are crucial

[tlm724] the thing I find most encouraging in this statement is this : IMF Mission Concludes Article IV Discussions with Iraq " clearly stating imo that the discussions are over and the mission is ending and when we look at Article 4 of the IMF we will see the significance of this .

[BondLady] ***The CBI should also take measures to gradually liberalize the provision of foreign exchange through its auctions, with the objective of avoiding in future the turbulence experienced by the market in the past year. *** the run on the usd in iraq,

they dont want all this crazy up and down , they want the iraq dinar to stableize and**********to create the conditions for high and sustainable growth that is necessary to improve the living standards of its people.******

they do need to make the peoples lives better by giving them a currency to be proud of, as much as they love the usd, its only because of the purchasing power, they would love to use there own currency to buy things with, and the imf is telling them, they do need to do something per this IMO

[Shredd] yes, that is the biggie in this portion!! taking measures to gradually liberalize the provision of foreign exchange via auctions

[BondLady] also ******The economy continues to suffer from severe structural weaknesses ***** pass that infrastructure law and other countries will flock in and help them rebuild much of this as well

[Shredd] yes and I' know we've talked about it recently in another chat,

[BondLady] yes we have shredd. The economy continues to suffer from severe structural weaknesses

[Shredd] but the demand and gap between the dollar and dinar can't swing too far between pricing and official rate.....before it pushes a rate change the "gradually liberalize" is very interesting here

[BondLady] slow grow ? or is that whats been done

[Shredd] seems to imply, perhaps

[BondLady] like set it to 1000 then float?

[Shredd] the context says.... the CBI should take measures to gradually liberalize, yes, i believe so

[BondLady] should

[Shredd] a continued managing via pipping it up

[BondLady] yes

[Shredd] i mean, the last word we have from the CBI themselves is what? 1000 to 1 right?

[BondLady] yes, a managed float

[Shredd] so, horse's mouth

[BondLady] and that seems most right to me

[Shredd] but hold on folks, because when we get into Ariticle IV, you will see what we are saying!!!! One last comment on this paragraph. In this context, we discussed the role of economic policies in leveraging Iraq’s potential and creating an enabling environment.

[BondLady] yes and timmy will bring in those paragraphs when were through with this article

[Shredd] i love this line "leveraging Iraq's potential" i believe an "enabling environment"

[BondLady] and iraqs potential as we know is so massive

[Shredd] includes a strong dinar that is the goal. yes, massive

[BondLady] With regard to the fiscal sector, the budget must be managed carefully to maintain macroeconomic stability, meet Iraq’s large social and investment needs while continuing to accumulate buffers to address oil market volatility, and ensure medium-term fiscal sustainability.

At the same time, Iraq needs to strengthen fiscal institutions and public financial management to make sure that the large oil revenues are used effectively and transparently. “Developing a stronger financial sector development will require moving away from the current model in which weak state-owned banks dominate the financial sector and enjoy favorable treatment vis-a-vis private banks.

A solid banking system that can support growth and employment will require the full financial and operational restructuring of state-owned banks and creating a level playing field for both private and public banks.

 “Finally, while oil-growth is projected to remain high over the coming years, boosting non-oil private sector growth will need a long-term government strategy centered on improving the business environment and opening up opportunities for the private sector.”

http://www.imf.org/external/np/sec/pr/2013/pr1387.htm

[Shredd] key part for me in this paragraph: Developing a stronger financial sector development will require moving away from the current model in which weak state-owned banks dominate the financial sector and enjoy favorable treatment vis-a-vis private banks.

I realize this may be a bit for some to fully appreciate, but the wheels of an economy is at the street level private bank lending. rewind to last fall when the banking and investment conference took place... so much groundwork has been laid for the economic sector within Iraq be alive and well in the hands of a safe and transparent private banking sector, why? because that gives confidence to the people lastly, it says high oil growth will boost non-oil private sector growth

[tlm724] We see the committee's and economist's calling for a free market economy daily in the articles which will grow the non-oil sector and create employment ,build infrastructure etc... and the WTO also calling for free market economy

[BondLady] you bet timmy

[Shredd] yes,the massive power source of oil will boost the private economy

DISCUSSION OF BLD & SHREDD, PART 2, 23 MARCH

BondLady] *****Finally, while oil-growth is projected to remain high over the coming years, boosting non-oil private sector growth will need a long-term government strategy centered on improving the business environment and opening up opportunities for the private sector******* and this is where the WTO and the free market, tarriffs taxes, industries, agriculture, dairy, all the way down to toll roads , traffic tickets ...

what ever you can think of that we are taxed on in our countries, they will too...and this in itself will support the state projects and funding so they can avoid loans and using more budgeted items to fill the needs iraqs economy and private sector will be paying for itself...

these are huge things being set in place by not only the IMF but also the WTO.... such awesome news in this article from the IMF that came out yesterday...

[Shredd] yes yes yes and what comes with a "Free Market Economy" by definition? an internationally recognized currency

[BondLady] absolutly shredd and as timmy has showed us from her research of the WTO they must pay for product with there currency not ours and it must be acceptable at all the banks of the countries that are selling to iraq or working with iraq
  [Shredd] I mean, read this whole article a few times......and remember the source! This is such a wonderful confirmation and report card of where Iraq is, what goals are in front of them and the projections the IMF sees in Iraq!!

[BondLady] this is the break down of the imf report we just concluded

[BondLady] Next we present article 4 of the IMF

[tlm724] Article IV: Obligations Regarding Exchange Arrangements Section 1. General obligations of members Recognizing that the essential purpose of the international monetary system is to provide a framework that facilitates the exchange of goods, services, and capital among countries, and that sustains sound economic growth,

and that a principal objective is the continuing development of the orderly underlying conditions that are necessary for financial and economic stability, each member undertakes to collaborate with the Fund and other members to assure orderly exchange arrangements and to promote a stable system of exchange rates.

In particular, each member shall: (i) endeavor to direct its economic and financial policies toward the objective of fostering orderly economic growth with reasonable price stability, with due regard to its circumstances; (ii) seek to promote stability by fostering orderly underlying economic and financial conditions and a monetary system that does not tend to produce erratic disruptions;

(iii) avoid manipulating exchange rates or the international monetary system in order to prevent effective balance of payments adjustment or to gain an unfair competitive advantage over other members; and (iv) follow exchange policies compatible with the undertakings under this Section

[Shredd] the essential purpose ........of the international monetary system....... is to provide a framework that facilitates the exchange of goods, services, and capital among countries. the key part to focus in on is the exchange of capital...... as it ties into what we are talking about the principal objective being...."the continuing development of the orderly underlying conditions that are necessary for financial and economic stability"

we'll expand on it when we look at section IV in here but see where it says: (iii) avoid manipulating exchange rates or the international monetary system in order to prevent effective balance of payments adjustment or to gain an unfair competitive advantage over other members compliance with the Article in full is going to demand a fair exchange rate regime

[tlm724] Section 2. General exchange arrangements (a) Each member shall notify the Fund, within thirty days after the date of the second amendment of this Agreement, of the exchange arrangements it intends to apply in fulfillment of its obligations under Section 1 of this Article, and shall notify the Fund promptly of any changes in its exchange arrangements.

(b) Under an international monetary system of the kind prevailing on January 1, 1976, exchange arrangements may include (i) the maintenance by a member of a value for its currency in terms of the special drawing right or another denominator, other than gold, selected by the member, or (ii) cooperative arrangements by which members maintain the value of their currencies in relation to the value of the currency or currencies of other members, or (iii) other exchange arrangements of a member’s choice.

(c) To accord with the development of the international monetary system, the Fund, by an eighty-five percent majority of the total voting power, may make provision for general exchange arrangements without limiting the right of members to have exchange arrangements of their choice consistent with the purposes of the Fund and the obligations under Section 1 of this Article.

[Shredd] ok, so exchange arrangements:we've known that the IMF will be involved when a "change in its exchange arrangements" takes place and this is what this section speaks to....approval through the IMF and don't forget, the article we just looked at stated that discussions regarding this Article IV were completed...just a reminder as we read thru this

[BondLady] right ! Under an international monetary system of the kind prevailing on January 1, 1976, exchange arrangements may include (i) the maintenance by a member of a value for its currency in terms of the special drawing right or another denominator, other than gold, selected by the member,

[Shredd] hold on because it's going to get better

[BondLady] or (iii) other exchange arrangements of a member’s choice. (c) To accord with the development of the international monetary system, the Fund, by an eighty-five percent majority of the total voting power,

[tlm724] Section 3. Surveillance over exchange arrangements (a) The Fund shall oversee the international monetary system in order to ensure its effective operation, and shall oversee the compliance of each member with its obligations under Section 1 of this Article.

(b) In order to fulfill its functions under (a) above, the Fund shall exercise firm surveillance over the exchange rate policies of members, and shall adopt specific principles for the guidance of all members with respect to those policies.

Each member shall provide the Fund with the information necessary for such surveillance, and, when requested by the Fund, shall consult with it on the member’s exchange rate policies.

The principles adopted by the Fund shall be consistent with cooperative arrangements by which members maintain the value of their currencies in relation to the value of the currency or currencies of other members, as well as with other exchange arrangements of a member’s choice consistent with the purposes of the Fund and Section 1 of this Article.

These principles shall respect the domestic social and political policies of members, and in applying these principles the Fund shall pay due regard to the circumstances of members.

[Shredd] good things in this section! the Fund shall exercise firm surveillance over the exchange rate policies of members when requested by the Fund, shall consult with it on the member’s exchange rate policies, which again, reference the article we brought in before this.......

this is what was done! the key part of this section:The principles adopted by the Fund shall be consistent with cooperative arrangements by which members maintain the value of their currencies in relation to the value of the currency or currencies of other members, so what does this tell us?

the change needs to be fair, cooperative and referring to the above subsection...... consistent in exchanging capital. you'll see further meaning in the next section titled "Par Values"this is huge.....and ties in with the last bunch of chat's I've been harping on

[tlm724] Section 4. Par values The Fund may determine, by an eighty-five percent majority of the total voting power, that international economic conditions permit the introduction of a widespread system of exchange arrangements based on stable but adjustable par values.

 The Fund shall make the determination on the basis of the underlying stability of the world economy, and for this purpose shall take into account price movements and rates of expansion in the economies of members.

The determination shall be made in light of the evolution of the international monetary system, with particular reference to sources of liquidity, and, in order to ensure the effective operation of a system of par values, to arrangements under which both members in surplus and members in deficit in their balances of payments take prompt, effective, and symmetrical action to achieve adjustment, as well as to arrangements for intervention and the treatment of imbalances. Upon making such determination, the Fund shall notify members that the provisions of Schedule C apply.

[Shredd] the fund may determine, by majority vote, international economic conditions permit the introduction of a widespread system of exchange arrangements based on stable but adjustable par values. so lemme explain par values

[BondLady] *******by a majority vote********

[Shredd] this is referring to balances on debt instruments remember when we talked about how crucial investment is to Iraq? and when the dinar came back on stage

[BondLady] yes sir

[Shredd] WHEN it comes back, that the investment vehichles had to change with it? Well, here we see that this is addressed in this article again, this Article IV that was just discussed per the article we started with! so they are making preparations for the coming change to the dinar.

let's keep going.....the next portion says this: for this purpose shall take into account price movements and rates of expansion in the economies of members. The determination shall be made in light of the evolution of the international monetary system so as the dinar evolves..... take prompt, effective, and symmetrical action to achieve adjustment, as well as to arrangements for intervention and the treatment of imbalances. the balances of all related investments will be adjusted

[Shredd] the IMF is all over it and again, they just completed discussions regarding this Article IV....and not like discussions about passing some law in parliament....this Article has been in place in the IMF.... their discussions were about IMPLEMENTING what is stated here approval of the change and steps regarding adjustment prompt, effective and symmetrical action!

[tlm724] concluded discussions shredd

[Shredd] yes timmy!

[Shredd] concluded their discussions

[tlm724] the time for talking is over. It is now time for action !

[BondLady] Just like some of my chats in the past where I've basically said the IMF, in a manor of speaking, is like the God Father...what the IMF says goes, and if some country doesn't want to abide by IMF decisions...then what happens? The IMF sends in its muscle and thats the UN...United Nations,...keeping in mind iraq is trying to come out of mega sanctions not add more sanctions to the list, so when the IMF speaks...like EF hutton...Iraq will listen

[tlm724] Section 5. Separate currencies within a member’s territories (a) Action by a member with respect to its currency under this Article shall be deemed to apply to the separate currencies of all territories in respect of which the member has accepted this Agreement under Article XXXI, Section 2 (g) unless the member declares that its action relates either to the metropolitan currency alone, or only to one or more specified separate currencies, or to the metropolitan currency and one or more specified separate currencies. (b) Action by the Fund under this Article shall be deemed to relate to all currencies of a member referred to in (a) above unless the Fund declares otherwise.

http://www.imf.org/external/pubs/ft/aa/index.htm#art4

[Shredd] this just speaks to keeping consisitency within each member's country not fluctuations by regions.

so in summary, the first article shows us that the IMF concluded it's discussions regarding Article IV and we looked at all the exciting things that are involved into Article IV. So going back to that first article, what's next? We saw confirmation of the massive growth we see goals for ongoing growth and we see that all of this was discussed in light of how the exchange change will be approved, managed and implemented.

When you look at all the requirements in Article IV, does a slow, incremental shifing of the dinar over many months or even years fit into this? No way! This address' a large change adjusting par amounts of agreements requiring a majority vote and in relation to other members. This to me, spells out a bigger shift than a gradual move !! Great work ladies and exciting to see this confirmation!

[tlm724] We have watched , learned and researched to the best of this teams ability . It is apparent we are coming to our own conclusion in this investment. The world is ready for Iraq to show her true colors and I am so grateful for this opportunity in my life to witness the birth and growth of this nation.

I thank you BondLady for the chance to be a part of this great team ! Shredd thank so much, it is great to have you on this team and to have you explain this in terms we can understand !

[BondLady] Awesome. Thank you so much timmy for the awesome research you do for us and thank you so much shredd for "banking" in our corner and understanding the banking through a bankers perspective and helping us all to understand these things better. I salute you both. Thank you very much !

[BondLady] and in closing this concludes Timmys, Shredd and BondLady and our round table discussion of IMF Mission Concludes Article IV Discussions with Iraq ...and Article IV: Obligations Regarding Exchange Arrangements ... March 21st 2013..... I hope everyone has enjoyed our work and efforts to keep you notified and up to date on our investment into the iraqi dinar........shredd, timmy and BondLady...out.