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DINARESGURUS.BLOGSPOT.COM_________________ _______

Tuesday, February 10, 2015

S3A CHAT UPDATE, 10 FEB


  • So We Have a PRJECTION of A BACKWALL For NEXT WEDNESDAY (Eight Days From Now)

    This Damn BACKWALL is on Rollerskates........(wish it would Roll Closer)!!!
    • Are you sure that's not Wednesday 15 days from now?
    • Check your Calendar Dude.....

      Next Wednesday is ASH WEDNESDAY (But I doubt it last that long)

      Abadi's Stuck his "NECK OUT" on the World Stage!!!
    • Ash Wednesday is Feb 18th.


  • I WOULD HIGHLY ENCOURAGE YOU TO READ THE MOUNTAIN GOAT POST
    AND WHAT JUST TOOK PLACE WILL MAKE SENSE
  • 2
    11
    Plat
    Expects
    Codes
    Santa
    Get yo booty ready ta rumble
Sounds good Felix.


  • the end is nigh ,by sunday this will be a memory in the past as we look forward to our new lifes.Namaste
    • I agree! Blessings to you Robert and all of the Stage3Alpha Family! :)))


  • Breaking News President ratifies Budget Law of 2015

    Published: 2015/2/10 12:33 • 595 Reads

    Baghdad (Forat) –The President, Foad Masoum, ratified the Budget Law of 2015 on Monday, according to close source. /End/ 

STEVEI CHAT UPDATE : Q & A, 10 FEB

Update from SteveI - Where we are 

Brought Over From Peoples Dinar

Greetings everyone.

 I see a few already opened this post, but I got a database error when I changed the tag line. Learned something by doing that move.

 I really do not want to go over the same old stuff that the news has reveled but rather focus on the facts.

 What I would like to do in this post is link to some very informative posts from the past and I can explain in more details at the end. 

This will take a bit of time as my forum was under a different path and I need to point them to this current one. I have all posts from 2010 when I started this site. All links will work in the next day or two, but will provide the context of the direction that Iraq was working on.
~~~
 First topic I want to work on is the rate. (some of the formatting may not be great but the text is fine.)

 On post I enjoyed doing was November 30, 2010. The title was "Zubaidi says Iraqi Dinar Value should be Raised" http://forums2014.pe...-raised/?p=7110. Remember these are things Iraq has been saying for years. In this post go to: Here is a recap of what we know:

http://forums2014.peoplesdinar.com/index.php?/topic/656-zubaidi-says-iraqi-dinar-value-should-be-raised/?p=7110

1. We know that when Saddaam was in power and took the IQD basically off the market and put in place his own currency. Two things happen, one - the IMF dropped the IQD’s rate of $1.00 IQD to $3.22 USD and gave a temporary program rate of $1,170.00 IQD to $1.00 USD. Also, Iraq was dropped from the international community financially and every other way.

10. Also fact is that until they, at a minimum reinstate there currency back to the $1.00 IQD to $3.22 USD as it was before Saddaam took over.

The IQD is not internationally recognized, that means no other banks outside of Iraq recognize it as legal tender. Which means it cannot be deposited into an account nor can there be any electronic funds transfers into the international community outside of Iraq.

Why is that important, well we know Iraq has been working hard to develop relationships globally.

As it stands right now, if Iraq buy a ship load of Toyota's, because of the low value of the IQD, Toyota would need that same ship to carry the tons of IQD back to their mainland and then find someone to convert the IQD to their YEN, then they could bank it.

Another huge problem with this is Iraq does not have enough printed IQD to work this way, nor do they want to.

 There are other posts from another me. http://forums2014.pe...23-pm/?p=410769(March 12, 2011)

 http://forums2014.peoplesdinar.com/index.php?/topic/32026-the-finish-line-part-5-stevei-updated-523-pm/?p=410769

So far, from DV to this site, I have never predicted a date, but gave a rate of $3.22 and that was due to the contracts we have in Iraq back in November of last year. I still will predict a rate of $3.20 based on facts and 100% reliable sources. Link: http://forums2014.pe...tevei/?p=216268

 Posted 12 March 2011 - 03:02 PM:

http://forums2014.peoplesdinar.com/index.php?/topic/16197-update-from-stevei/page-4#entry216268

Saleh also said again that the rate would be greater than the 1978 rate. It was $3.22 in 1978. Follow the link below as it has supporting articles:  Link: http://forums2014.pe...tevei/?p=483168  

Posted 04 June 2012 - 04:04 PM:

http://forums2014.peoplesdinar.com/index.php?/topic/41575-rays-update-by-stevei/?p=483168

Here is one of my "Finish Line" Posts, but the finish line is now upon us.

 Let's all keep in mind the following:

We know also for a fact is that until they, at a minimum reinstate there currency back to the $1.00 IQD to $3.22 USD as it was before Saddaam took over.

The IQD is not internationally recognized, that means no other banks outside of Iraq recognize it as legal tender. Which means it cannot be deposited into an account nor can there be any electronic funds transfers into the international community outside of Iraq.

Why is that important, well we know Iraq has been working hard to develop relationships globally. Link: http://forums2014.pe...23-pm/?p=410769    

 Posted 03 October 2011 - 01:09 PM:

 http://forums2014.peoplesdinar.com/index.php?/topic/32026-the-finish-line-part-5-stevei-updated-523-pm/?p=410769

Actually I did a few finish line posts but was bashed very badly so I quit doing them. I seems that everyone and their dogs have better info, so I let the "Thin Air" approach go forward.

 Moving on, the CBI posted an official document http://www.cbi.iq/do...-e 5-2-2015.pdf and I got back from one of Ray's guys here the following: 

 http://www.cbi.iq/documents/press%20for-e%205-2-2015.pdf

"Ok, I got a translation. This is an official at the CBI. He is instructing bank managers from around Iraq about the new currency exchange coming up and how to handle it.

 Also, if no bank has a Del La Rue machine, the CBI will provide them one. They want all the dinar run through this machine so to keep out any counterfeit currency. The CBI will also provide training if it is needed too."

 I read that and said wow they are now ready to go with the new notes (which by the way the guru's denied them having) and they will be changing the value.

 Now I would like someone to explain this one, the Kuwaiti Dinar equals $3.38 to the US Dollar. A few months back the KWD was higher. Go look at http://www.x-rates.c...from=KWD&to=USD

I found this to be very interesting. So I personally believe that the future IQD and KWD is lining up because of the oil revenue sharing. If someone has a better explanation, please tell me.

 http://www.x-rates.com/graph/?from=KWD&to=USD

Now it is time to talk about the finish line. Millionday mentioned that Dr. Sinan al-Shibibi will take over the CBI. December 3, 2010 I dedicated a post to Dr. Sinan al-Shibibi Link: http://forums2014.pe...ibibi/?p=13563This is worth reading.  

(Posted 03 December 2010 - 09:30 AM:

 http://forums2014.peoplesdinar.com/index.php?/topic/1237-lets-make-todays-topic-about-dr-sinan-al-shibibi/?p=13563

Here is my opinion, I believe 100% the he will take over as Governor of the CBI again, if not already done behind the scenes but not yet made public.

Finally you all want to talk about a date.

So far, based on all of the laws that have been passed and the upcoming discussion with the banks about the new notes, I believe without reasonable doubt that this is our month.

 Now for my final comments:

 I and many of my very close friends (contacts, sources, etc.) believe we are finally at the end of this journey. I will not promise it will or will not, but do promise to continue to share our knowledge regarding this investment.

After reading all of the recent news and events, if you are not even a bit more positive, then please get out of this and find something else to occupy your time and energy.

 For my wife and I, this is a once in a life time investment and we are now at the brink of sharing it with all by joining together and making this world a better place.

 So, yes I believe this is without a doubt our month. I promised to be here until the end with those who care, for those that do not, go get a life and do your thing because you will anyway.

 This has sure been a journey and I look forward to talking to you in person if you wish to participate at a gathering so we can share our life's stories together.

 I would like to invite anyone with questions to please ask them on this post. I will do my best to answer each and every one of them. I am sure I will get questions that I did not cover in this post like the HCL, the final Budget, etc., but I do have some very good answers to those a well.

 See you all soon.

 Look back and be grateful; look ahead and be hopeful; look up and be blessed, if you don't you just may be lost.   Love you all,    Blessings,  Steve

HAUS, on 07 Feb 2015 - 11:18 PM, said:   Thanks for another update, Steve!  I love the CBI announcement!  Add that to Abadi's announcement on the 12th and you have all the groundwork for an RV!   C'mon, RV!   Ephesians 3.20   HAUS

Stevel    You mods are the best of the best. I am so proud to even be a part of your lives and what you do for this site is beyond recognition.  Please everyone, thank the mods for this site, not me.   Blessings, 

dinaroo, on 07 Feb 2015 - 11:31 PM, said:  So far, based on all of the laws that have been passed and the upcoming discussion with the banks about the new notes, I believe without reasonable doubt that this is our month.               :)  :)  :)  :)  :)

 Stevel    That makes two of us.  Blessings,  Steve

the duchess, on 08 Feb 2015 - 08:26 AM, said:   Thank you SteveI for this update. Thanks to the incredible mods at PD and all the newshounds over the years. I'm so very ready to turn to the first page of a new financially free life. One of the first things I'll have to do is go shopping for myself.

You see, my bags have been packed for so long and the stress of life has put so many pounds on my body that the packed clothes no longer fit!  I don't see a problem though....

My cousin called me 2 weeks ago and said his daughter asked if he still had IQD? When he responded why she said because my Mom [his ex wife] who is holding down a position of higher management at a big bank told her that they are being told, get ready to deal with that currency. Getting real excited again!!!

Stevel     Thank you for sharing. I will not give you the name of a bank I deal with, but they are 100% ready and within hours will cash you in.   This is as real as it gets.  Steve

semaj703, on 08 Feb 2015 - 1:30 PM, said:   Steve, are you saying the bank is aware of the impending RV? Thanks again!
Stevel   Yes, they have been for a few months now. This is a fact, I just will not say the bank or location. I did that once a year ago, everyone called the bank and disrupted there banking hours with calls and I lost them as a source. People will do crazy things to screw up a great thing.     Steve

hbladyfish, on 08 Feb 2015 - 2:00 PM, said:   Is there a possibility that the chat room can be opened again?   Appreciate your dedication to all and your hard work.

Stevel   I did not renew it but the one with the site can be turned on. I will ask the mods.

goods10, on 09 Feb 2015 - 12:53 PM, said:  Yeah I just can't believe a bank or multiple banks are privey to this information. It doesn't make sense.

Stevel    FYI Sir, the banks I am aware of here in the United States, the lop level management does work very closely with the United States Treasury and the OCC. Do you really think something like this would not be known at the lop levels? If you think not, you best think again my friend! I think there are many members that would agree.  Good luck.



GPCarter,
 on 09 Feb 2015 - 1:27 PM, said:  Absolutely right. This is not a shock or "surprise" to them. Maybe people at the lower levels and teller levels might be unfamiliar but not the higher ups.

Stevel    Spot on!!!!!!!!!!!

goods10, on 09 Feb 2015 - 1:46 PM, said:   Steve, to be completely honest with you, I don't know what to think anymore. I take it all one day at a time trying not to put too much stock into what anyone says. 

I wasn't implying that low level employees like tellers would be privey to this information. 

It has always been my belief that a future value increase of the Dinar is information left under lock and key only known by a very very very select few in the world. I hope you don't think I meant any disrespect with my comments/opinions/beliefs. Good luck to you too.

Stevel    No problems. I can tell you for a fact as I have talked to a region manager at a major bank, and they are ready. Select locations have the machines already installed. Thanks

Parliamentary Finance: the next few hours will witness the presidential endorsement of the budget

Stevel   It appears that this may have been done but now making it public. I think too much is going on behind the scenes to have not had this in place with a "I hope he signs it" attitude. Very good stuff here. Steve

chief2791, on 09 Feb 2015 - 2:03 PM, said:   Am I right in assuming that no matter which bank an individual chooses, that they would have specific locations that would be used as exchange locations rather than having to train every (or a) employee at every branch?    Thank you for all you do...Chief appreciates it! :D

Stevel    That is the way I would approach it.

JCR3758 TWEETS, 10 FEB

@JCR3758: http://t.co/unElcikU0o Yes it is confirmed.

@JCR3758: Word of advice. Wait till after you exchange & get home to start dancing & jumping up & down. Don't get locked up (in a sanitarium) post RV.

@JCR3758: http://t.co/mVr2z3fxhA


@JCR3758 :Word of advice. Wait till after you exchange & get home to start dancing & jumping up & down. Don't get locked up (in a sanitarium) post RV

@JCR3758 :More confirmations on this (prez radifies) and strong forward movement. Things really lining up.

EXOGEN UPDATE, 10 FEB


EXOGEN February 10, 2015

IMF weighs dropping U.S. veto over delayed reforms: sources

By Anna Yukhananov and Lidia Kelly, Reuters  February 10, 2015

WASHINGTON/MOSCOW (Reuters) - The IMF's board last month discussed two options for moving forward on voting reforms without the United States, including a proposal under which Washington would lose its veto power at the global lender, according to three sources familiar with the proposals.

The sources, who have seen an IMF staff paper laying out the options, said the plan would ask the United States to temporarily give up its controlling share of IMF votes, amid growing frustration with U.S. foot-dragging on reforms meant to give emerging markets more say at the institution.
....
Russia and Brazil have pushed for this idea publicly over the past year, and Russian Finance Minister Anton Siluanov on Tuesday said it could encourage the U.S. Congress to act.

The IMF's member countries agreed in 2010 to reform the institution's voting rights, but the Obama administration has so far been unable to persuade Republicans in Congress to pass the necessary funding changes.

The 2010 reforms would double the fund's resources and increase the voting power of countries like China and India. They would also reduce the dominance of Western Europe on the fund's 24-member board.

Under one proposal, known as "de-linking," the IMF board would detach the doubling of resources from the changes to the board, though the United States would have to agree to do so.

"In our view the de-linking would be the most logical," Siluanov told reporters on the sidelines of a Group of 20 meeting in Istanbul, though he admitted the United States has asked countries to wait another six months as it pushes for congressional approval.

The U.S. Treasury said it is working "intensively" to get Congress to pass the 2010 reforms.

The second proposal, which does not require U.S. approval, would raise the voting rights of some emerging countries under an 'ad hoc' increase, without touching U.S. veto power.

But countries like China would only get a small bump in their shares. This option would also not resolve the IMF's financial crunch, as it increasingly relies on temporary arrangements approved during the height of the global financial crisis to fund major loan programs in countries like Greece and Ukraine.

The board has not yet decided which of the two options to pursue, and will discuss the issue further during the April meetings of the IMF and World Bank before settling on a plan, according to people who were not authorized to speak publicly.

(Reporting by Anna Yukhananov in Washington and Lidia Kelly in Moscow; Additional reporting by Dasha Afanasieva in Istanbul; Editing by James Dalgleish)

http://www.thefiscaltimes.com/latestnews/2015/02/10/IMF-weighs-dropping-US-veto-over-delayed-reforms#sthash.YKp9xoqC.dpuf

EXOGEN : THE WORLD IS FED UP WITH THE UNITED STATES

THESE ARE THE SAME TYPE OF DELAY TACTICS THE USA HAS BEEN USING IN IRAQ

Zimbabwe: 2014 Article IV Consultation-Staff Report; Press Release; and Statement by the Executive Director for Zimbabwe, 10 FEB

VInman: Zimbabwe is already performing under Article IV.

Summary: EXECUTIVE SUMMARY Outlook. The economic rebound experienced since 2009 has ended, with economic growth decelerating in 2013. The external position is vulnerable, with a wide current account deficit, an overvalued exchange rate, and low international reserves. The baseline scenario is marked by sluggish growth in 2014 and over the medium term, with risks clearly to the downside in the near term. Key risks to the outlook include lower than programmed tax collections, policy slippages, financial sector stress, and global commodity prices. 

Zimbabwe faces these risks with very thin buffers. Performance under the staff-monitored program (SMP). The SMP provided a useful anchor for Zimbabwe in an election year. However, progress in implementing the program was complicated by a long electoral process and a protracted post-election transition, as well as an adverse external environment. Thus, a number of quantitative targets and structural benchmarks were not met. Discussions on the first and second reviews are at an advanced stage. 

Macroeconomic policies in the near term. The economic environment remains difficult, posing significant risks to the budget and to financial stability. Policy efforts should continue to aim to restore fiscal and external sustainability and reduce financial vulnerabilities. Medium-term challenges. Zimbabwe faces serious medium-term challenges, and a vigorous reform program is needed to put the country on a sustainable, inclusive growth path. In particular, a fiscal strategy aimed at rebalancing the expenditure mix should be a priority—including to prevent the accumulation of domestic arrears. Significant financing is needed to address the infrastructure deficit and widespread poverty, as targeted under the government’s own development plans. 

To attract muchneeded FDI and access affordable financing, the authorities need to improve the business environment. Resolving external payment arrears. Zimbabwe’s debt situation remains a serious impediment to external sustainability and economic development. Addressing this issue will require a comprehensive arrears clearance framework underpinned by strong macro policies, in what will likely be a protracted process.

LINK

NEW AFRICA NEWS:Gideon Gono: Zimbabwe’s ex-cenatural bank governor tells all (NEWS RECAP : EXCERPT), 10 FEB

NA: Again in 2007 you said: “The last line of defence is the power within ourselves to print money. We don’t need foreign exchange to build roads and dams. We need local currency. So we print the money here to finance infrastructural development, because infrastructure is not inflationary.” This is why your critics say the subsequent economic implosion was all your fault. You printed too much money?
GG: But if we had not printed money, which was our only line of defence, what would have happened to the cholera victims, what would have happened to the disaster-recovery programmes that were executed by our very able, well-equipped, well-trained, and well-fed soldiers who, without the printed money, would have left flood victims to die? Today, the same critics are sitting in the comfort of their offices because they still have the breath of life in their chests. If we had not printed money, by now they would have been eaten up by moths, and most of them would not have probably made it to heaven.
NA:  In 2007, you also said: “We are guided by conviction and not convention, and where convention meets conviction, well and good. What drives us is the belief that what we are doing is the correct thing.” My question is: If what you were doing was right, why did the country ditch the Zim dollar for the US dollar as its national currency?
GG: Whenever you are fighting a war, you ought to be guided by pragmatism. We are a pragmatic people. We know when to take two steps back in order to make 10 forward. The stage at which we are now is a stage where we are re-starting our engines, we had cooled them down. Re-starting your engines or cooling them down is no sign of defeat at all. It is only a pause, and a pause is not a defeat
NA: Towards your retirement, you became a fervent advocate of the non-return of the Zim dollar, why?
GG: No, no, no. I was wrongly quoted. In fact if the people of this country had followed my advice and that of President Mugabe, when we introduced the multi-currency regime, we would not be experiencing the liquidity challenges that we are facing today. Furthermore, for your information – and this is backed by documentation, dates, and facts – multi-currency was not introduced during the Government of National Unity as is often said. Not even just before it. Multi-currency was something that we studied as a central bank project between May and August 2008. 
We even licensed petrol stations, certain supermarkets, and wholesalers to participate in the exercise. We held a launch of this approach at the Harare International Conference Centre in August 2008 and pronounced that we were going to carry out this experiment under a licensed framework until November 2008, when we laid the groundwork for multi-currencying this economy.
NA: And you say you were misquoted about not wanting the return of the Zim dollar?
GG: Once the authorities have decided on a way forward, a cadre’s duty is to support that way forward and not necessarily be discordant. I never said the Zim dollar was not going to come back. But as governor of the central bank, I did set conditions that would allow the Zim dollar to come back, and such conditions include at least 6 months’ worth of foreign reserves, a sustained track record of economic growth, with factories operating at not less than 80% of capacity utilisation, with a debt-GDP ratio that is below the 50% mark, with exports significantly outpacing our imports …
NA: But that is a tall order!
GG: A tall order, yes. But when you look at the different kinds of fruits, some are produced by some of the tallest trees, but people never stop going after them just because it is a tall order. No. It is the determination of the people to get there that matters. The taller the challenge, the greater and more exciting it is to achieve it.
NA: And somehow when the multi-currency regime was introduced, the massive hyperinflation which was tearing the economy apart, disappeared overnight. How was that possible?
GG: It was merely a base that we were using which changed. There was nothing magical about it. Where we needed one trillion Zim dollars to get one US dollar, we now decided to talk about the US dollar alone, no reference to the Zim dollar. So it doesn’t mean much, it is simply the currency of measurement and transacting which changed. The mindset did not.
And here is the dichotomy, which is the question that I want to throw back to those people who believe or believed that Gono was the problem. Here is the mantra that was sold to people in 2008-09: One, “For us to do well in this country, for us to enjoy life and prosperity, Gono must go.” Two, “Gono must stop printing currency.”  Three, “The Zim dollar must go.” Four, “Gono must stop quasi-fiscal operations”. Five, “Gono’s powers must be clipped. Once these [priorities] are done, we shall live happily ever after.” 
So, since 2009, Gono never printed a single penny. Gono never undertook any quasi-fiscal operation. Gono’s powers were clipped. For the last six months, from January to June 2014, Gono is nowhere to be seen. But what is the situation now? 
People are worse off than when Gono was there. The capacity utilisation of factories has gone so low (30%) that you can’t believe it; it is the lowest since records began. Poverty levels are far, far higher than they were in 2008. The banks can’t get any money. Civil servants, soldiers, police, pensioners, war veterans, and the rest of them are not getting their pay and pensions on time. But Gono is not there. Gono is gone!
In 2008-09, it was also said that if our inflation were in single digits, we would live happily ever after. Our inflation today is below 0.5%, not even 1%. It is actually better than America’s! But we are worse off. Our budget deficit is serious, our import bill is serious, our balance of payment position is worse! Similarly, unemployment is high – every week people are losing their jobs. You can’t look at our social poverty statistics, it’s terrible. And order is nowhere in sight. It shows the laziness in the thinking of people. 
There are fundamental issues that have remained constant with or without Gono, and those are what must be tackled, not personalities. We are not singing from the same hymnbook. It is the politics again! The sanctions are there, and we are witnessing the futility of trying to turn around our economy in an environment of pointless conflict.
NA: Given what has happened to Zimbabwe in the last 14 years, do you still have faith in the international financial system?
GG: Yes, there are no two ways about it. We have a role to play and we shall play it as a giant. We have just been asleep and elephant riders know when to ride an elephant. It is when it is on the ground, when it is asleep. That’s the best time to ride an elephant because when it rises, it will rise up with you. 
By this I mean there are people out there who do not see the opportunities in Zimbabwe now. They can only do well if they ride us at this stage, not later.
LINK