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Saturday, February 7, 2015

MY LADIES CHAT UPDATE :Abadi :"Next Week He Will Put the New Economic System Into Play", 7 FEB

MY LADIES:  Support the dinar   2/7/2015 0:00

 BAGHDAD - morning  called economic researcher state just to support the dinar exchange rate against the dollar over the insider only in local currency and away from the dollarization of the market because of the negative impact on the economy.

MY LADIES:
 THIS IS WHAT WE WANT TO SEE HAPPEN, THE STABILITY IN THE DOLLAR / DINAR EXCHANGE RATE IN THE MARKETS IN IRAQ. PRESENTLY THEY ARE HOLDING WITH IN 20 DINAR AND THEY HAVE ENDED PRICE GAUGING.

Adel said in a statement the "morning" is necessary to restore public confidence in the local currency, which has a lid large reserves of gold and foreign currency, and not underestimate the value to any other currency.

MY LADIES:THIS IS THE STRONG RESERVES THE CBI HAS TO SUPPORT THE DINAR
....
And stressed the need to restrict the dollar in the only foreign trade and expand handle local money in the trading of domestic trade between provinces or direct daily transactions in the markets between citizens and shopkeepers.

MY LADIES: AND THIS SENTENCE IS CRITICAL NOW THEY ARE NOT ONLY TALKING ABOUT SETTLING GOVERNMENT DEBT IN DINAR BUT THEY BUT THEY ARE SAYING TO RESTRICT THE DOLLAR AND PROMOTE TRADE IN THE DINAR ONLY BETWEEN THE PROVIDENCES.

It confirmed that the continuation of dollarization in Iraq harm the reputation of the dinar as much as would maintain public confidence in the dinar destabilizing to a large extent, indicating the need for attention to this subject by regulatory agencies and educate citizens not to be dragged into what is floating currency.

MY LADIES: AND THIS IS GREAT TOO NOT ONLY ARE THEY SAYING TO USE THE DINAR BUT THEY ARE ALSO SAYING TO HAVE IT DRAGGED INTO WHAT IS A FLOATING CURRENCY SUCH AS THE DOLLAR. HUMMM THOUGHTS  ON THIS ANYONE??

http://www.alsabaah.iq/ArticleShow.aspx?ID=86213

MarineMom:
 I like the verbage, ... They are talking about educating (to me this speaks of preparing) the citizens... and the reference to support the exchange rate against the dollar... Sounds like they are ready for their currency to have some clout and are tired of the continuing dollarization or use of usd within country.

MY LADIES:  MM: WHEN THEY SPEAK OF EXCHANGE RATE NOW THEY ARE TALKING ABOUT THE SPREAD AND COMMISSIONS, THEY WERE OUT OF CONTROL FOR A WHILE THERE WHICH IS WHY THEY JUST OPTED TO GO FROM 1186 TPO 1166 SEVERAL MONTHS AGO TO STOP THE DIFFERNCE IN EXCHANGE RATE.

MrsJim524 the syntax is not great but it appears to me they are saying restrict the dollar to foreign trade and use the dinar for domestic trade between provinces.

i would think we would be happier to see foreign trade done in dinar too

MY LADIES
:  MrsJim NO  THEY WILL ALWAYS SETTLE OUTSIDE IN DINAR AS PER THE LAW SINCE LAST YEAR.

WE THOUGHT THE TURN OVER PROCESS FROM DOLLAR TO DINAR WOULD BE SLOW GOING, BUT THEY ARE TALKING ABOUT IT BETWEEN THE PROVIDENCES NOW TOO...VERY GOOD INDEED.

MrsJim524:  so they are saying use dinar for all trade?

MY LADIES:  YES  THAT IS WHAT THEY ARE SAYING

BUT WHAT ABOUT THE LAST PARAGRAPH?? ANY THOUGHTS

MrsJim524:  i'll take a stab at it - not only do they want dedollarization, they do not want the dinar floating

Patti: 
 ML, sounds to me like the CBI is doing in-country damage control with the Iraqi people to re-establish trust with the banking systems.....and currency.   Building trust requires walking their talk, but the catch-22 they are in makes that challenging.  No $, no law or budget enactment.  They can't fulfil the promises made to the people without a repricing of the IQD.  (cash)

MY LADIES: 
 PATTI THAT'S CORRECT TOO, THEY NEED TO FUND THAT BUDGET AND IN ABADI SPEECH YESTERDAY HE RE AFFIRMS THAT THE BUDGET IS APPROVED AND WILL BE ENACTED NEXT WEEK ALONG WITH MANY MANY LAWS...HE TOLD THE WORLD THAT YESTERDAY.

Patti: So, just like us, the Iraqi people are waiting for actions that back up the promises.  Seems as if he's preparing the people just like you've been preparing us!  (clap)

MarineMom: ML that's what I was refering to...in the last paragraph, when I said it looks like they are ready for the dinar to have some clout. They are saying how can it be respected  if they are using the dollar in country? When they warn about the floating currency, are they referring to the dollar?

MY LADIES:
  YES MArineMom, I THINK THEY ARE REFERRING TO THE DOLLAR...BECAUSE THE DINAR DON'T FLOAT

PrincessD
:  That would be interesting to see what it does on the Forex and whether it will be a float. We have heard about Kuwait's float and it would seem that it would happen to the IQD as well. I honestly dont know how it wouldnt float with the investors jumping in.  I guess we will wait and be surprised.

MY LADIES:  PRINCESS IF THE DINAR COMES PEGGED TO THE SDR AS WE THINK IT WILL IT WILL BE FIXED, NO SPIKES NO FLOATS.

TO GO FROM 1166 TO 1 PENNY IS A HUGE UNHEARD OF SPIKE FROM THE BEGINNING, THERE WILL NOT BE FLOAT I'M SURE.

Robert:
 ML I think they are saying they don't want the citizens to get ripped off from the various exchangers out there with floating rates as they see fit!

Alan:
 ML,...............this quote confirms that the continued use of the dollar is harming the citizens as well the reputation of the dinar......"It confirmed that the continuation of dollarization in Iraq harm the reputation of the dinar as much as would maintain public confidence in the dinar destabilizing to a large extent,"

MarineMom:
 educating citizens, asking people to use dinar instead of usd, concern about the reputation of the dinar... sure looks like they are preparing for something to me

Alan: I believe this is preparing the public for the soon to come dedollarization throughout the country….OBTW......the only float is the large swings in the buy and sell prices on the streets.

Folks,............the CBI needs to project confidence in the IQD...................letting it float/move around based upon world events will not project confidence. Instead, as the CBI has stated that they will defend the price of the IQD at all costs.
In other words, IMO when the CBI states the value of the IQD it will be defend at whatever that value is.
MY LADIES: SO THIS ARTICLE IS VERY GOOD AND RIGHT ON TIME WITH THE SPEECH HE GAVE YESTERDAY.

DID EVERYONE LISTEN TO THE SPEECH OR JUST THE 25 MIN MARK OR WHATEVER?

HERE NOW LISTEN AGAIN TO THE ENTIRE THING, THE MIDDLE PART ABOUT DOLLARS AND DINAR AND SUCH IS THE SAME FROM DAVOS BUT THE REST OF THE SPEECH IS ABOUT THE NEW ECONOMIC SYSTEM. DID EVERYONE OVERLOOK THAT?

http://www.koerber-stiftung.de/mediathek/player/he-dr-haider-al-abadi-prime-minister-of-the-republic-of-iraq-gave-speech-in-berlin.html

MY LADIES: GO BACK AND LISTEN TO IT PLEASE.

HE IS SAYING THE BUDGET IS DONE,

THE LAWS ARE DONE,

AND THEY WENT THROUGH THE COUNCIL IN RECORD TIME.

HE IS ALSO SAYING NEXT WEEK HE WILL PUT THE "NEW" ECONOMIC SYSTEM INTO PLAY.


Dave: The PM announcing that he will initiate an economic system............. Speaks volumes

MY LADIES: YES DAVE IT DOES...THE GOVERNMENT HAS THE DETAILS WORKED OUT AND THE CBI HAS THE MONEY WORKED OUT.

JudahTribe8: GREAT GREAT GREAT NEWS!!!!!!!!

PuddyTat: 
  YOUTUBE VERSION:  H.E. Dr. Haider Al-Abadi, Prime Minister of the Republic of Iraq, gave speech in Berlin - YouTube

https://www.youtube.com/watch?v=-ldVdfdCGjk

MrsJim524:  if you click "more" under the video you get a transcript

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