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Monday, February 1, 2016

RCOOKIE TIDBITS, 1 FEB

I WAS READING SOME COMMENTS ABOUT THE WARKA BANK ANNOUNCEMENT… SOME THINKING THE INTERNATIONAL CURRENCY MEANT RATES. 

Well it is an international bank.]

 IT IS…BUT 1 OF THE LARGEST PRIVATE BANKS IN IRAQ…THAT WAS PUT UNDER “GUARDIANSHIP STATUS” IN 2013 TO SUPERVISE THEIR INSOLVENCY… AFTER REHABILITATION & RESTRUCTURING…THAT GUARDIANSHIP WAS LIFTED THE OTHER DAY..ALLOWING THEM TO RE-ENGAGE IN BANKING ACTIVITIES INCLUDING THE AUCTIONS…

AND VERY IMPORTANT IN REGARD TO THE MASSIVE BANKING SECTOR SHAKE UP GOING ON AS WE SPEAK…WITH THE PRIVATIZATION OF THE 2 BIG STATE BANKS. 

[When do you think these auctions will stop?] 

WHEN THE CBI & IMF FEEL THEY HAVE THE DIRE LIQUIDITY CRISIS WE READ ABOUT EVERY DAY IN A TENABLE STATE FOR THE NEXT STEP… THEY NEED CURRENCY…THE NEXT STEP WILL BE SOPPING UP THE USD FROM THE MARKET AS THEY TRANSITION FROM MCP… AND RETAILERS USE IQD FOR PURCHASE TRANSACTION PROCESS…

 [I thought they were trying to dry up the dollar already?] 

THEY ARE..BUT…LIQUIDITY IS DIRE.

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