28 replies to this topic

[j904]

* (Kaperoni): 3S’s 2/16/12
FEBRUARY 16TH, 2012 05:10 PM · POSTED IN RUMORS (DINAR REVALUATION) 
Frank & Kaperoni both state that Article VIII is a major key to the release of the RV. Both believe that we are within a 30 day window before we see the rate released. Per Frank on his 2/15/12 CC Iraq accepted the demands/responsibilities of Article VIII via an LOI to the IMF on 2/15/12. Iraq has 30 days from the date of their LOI to raise the value of their currency.Kaperoni’s comments on Article 8 are below:
kaperoni: “Deputy Central Bank of Iraq that “Iraq frees the current account of the balance of payments and this commitment to International Monetary Fund agreement in article VIII, but at the same time edit account does not mean market but there are controls injected called market discipline being applied”.
kaperoni: This is huge! This appears to me the CBI is in the process of changing from IMF Article 14 to Article 8. Article 8 is key to them releasing the dinar and making it internationally recognized and tradeable.
kaperoni: They are stating here they are conforming to these requirements. Now supplying balance of payment (BOP) to the IMF. It appears the quote also is saying we are doing this under controls or market discipline, which is the “Basel Compliance” or regulations.
kaperoni: Now if you go to the IMF website…click on Country Info, then choose Iraq, then find on the left where it says “Iraq’s position in the fund” and click it. It will take you to the financial position in the Fund as of January 31, 2012 for Iraq.
 


 
kaperoni: On the right side it says Iraq is still in Article 14 represented by…Article XIV. If you click on this, you will find that the link no longer works. It says “page not found.” Is this a coincidence?
kaperoni: It appears to me that Iraq is about to officially accept Article 8.

The * (Kaperoni): 3S’s 2/16/12 by another site

[Butifldrm]

Wow, if this is true? IT"S ALL GOOOOOD, from here on out!

[Unitedrich]

All smiles here, lets just cross the finish line

[thegente]

Iraq getting their status changed from IMF Article 14 back to IMF Article 8 is indeed a huge factor, but I just checked the IMF website, and there has been no LOI submitted 2-15-12 to the IMF from Iraq as Frank is claiming...see for yourself:

IMF-Iraq Country info: http://www.imf.org/e...y/IRQ/index.htm



Last LOI submitted to the IMF from Iraq-March 3rd, 2011:


http://www.imf.org/external/np/loi/2011/irq/030311.pdf

Edited by thegente, 16 February 2012 - 07:32 PM.

[thesjeske]

Righteous!!

[Theflyingbird]

Sounds very positive. Come on Iraq! Speed it up! I could use some extra Benjamin Franklins in my pocket.

[speculatorsRIDE]

Show me this LOI.

[Reelemfast]

That sounds good, Pray people, pray........ Go RV

[thegente]

Show me this LOI.

See my earlier post...it doesn't exist.

[zigmeister]

Iraq getting their status changed from IMF Article 14 back to IMF Article 8 is indeed a huge factor, but I just checked the IMF website, and there has been no LOI submitted 2-15-12 to the IMF from Iraq as Frank is claiming...see for yourself:

IMF-Iraq Country info: http://www.imf.org/e...y/IRQ/index.htm



Last LOI submitted to the IMF from Iraq-March 3rd, 2011:


http://www.imf.org/external/np/loi/2011/irq/030311.pdf

It so far does not exist. I guess then we will see.

[Goldiegirl]

One of the stipulations for them to move from Article 14 to Article 8 is that they require Chapter 7 removal.

So with them focusing so hard on Chapter 7 removal lately one can conclude it is to meet the IMF requirement in order for the IMF to move them to Article 8 which is a currency tradeable outside of Iraq and along with that the IMF will approve the rate the CBI requests if that has not already been done.

All very good indeed!!!!

Golide

[TLHUBER]

I went to the IMF website and went through all the steps that Kap said to do and sure enough when you click on the Article 14 link it takes you to a page that is not working. Only problem is if you go to other countries site and click on there Article link it does the same thing.

[zul]

I went to the IMF website and went through all the steps that Kap said to do and sure enough when you click on the Article 14 link it takes you to a page that is not working. Only problem is if you go to other countries site and click on there Article link it does the same thing.

Indeed.

[zigmeister]

One of the stipulations for them to move from Article 14 to Article 8 is that they require Chapter 7 removal.

So with them focusing so hard on Chapter 7 removal lately one can conclude it is to meet the IMF requirement in order for the IMF to move them to Article 8 which is a currency tradeable outside of Iraq and along with that the IMF will approve the rate the CBI requests if that has not already been done.

All very good indeed!!!!

Golide

Good point Goldie. Now I see why Chapter 7 is a priority for Iraq.

[thegente]

Good point Goldie. Now I see why Chapter 7 is a priority for Iraq.

I just read the entire IMF Article VIII top to bottom, and don't see anywhere in it that states that CH7 has any bearing on Iraq returning to IMF Article VIII.

CH7 are UN sanctions- Article VIII is an IMF set of monetary policies, two different organizations with differing objectives.

Maybe I missed something, but if you could point out where it states that CH7 must be removed for Iraq to be returned to IMF Article VIII, that would be great. I realize CH7 is very important for Iraq to normalize it's relations with the rest of the international community, but just don't see where it states that one is relavant to another as far as monetary policy goes.Thanks!

Edited by thegente, 16 February 2012 - 11:55 PM.

[shabbadude]

thegente, confirming what you posted, I looked into the same thing last year when all this got whipped up. Kap is usually straight up with his stuff, waaay more level headed and accurate than most, we'll see how this goes.... Go Baby Go!

[thegente]

thegente, confirming what you posted, I looked into the same thing last year when all this got whipped up. Kap is usually straight up with his stuff, waaay more level headed and accurate than most, we'll see how this goes.... Go Baby Go!

I've known Kap from several other forums for a very long time, spoken to him many times...not a real big fan anymore...have seen a few unsavory things I won't broadcast on the open airwaves. As far as info regarding the Dinar, Iraq or the RV, if I don't see a link backing up a claim, I don't believe it....too many times these guys have said 'we are there" or "this is our new RV window"..BS....pays to do your own research, and not follow any of these windbags..will save you a ton of headaches. Thx buddy!

[GK03]

Here's a tip. What do these countries have in common?

Afghanistan
Iraq
Nigeria
Somalia
Bosnia-Hercegovania
Mozambique

Answer:
1. All these countries are recent war-torn countries once ruled by corrupt thugs and most likely owe alot of debts to alot of countries.
2. All these countries are under Art XIV. TRANSITIONAL ARRANGEMENT:
"member that has notified the Fund that it intends to avail itself of transitional arrangements under this provision may, notwithstanding the provisions of any other articles of this Agreement, maintain and adapt to changing circumstances the restrictions on payments and transfers for current international transactions that were in effect on the date on which it became a member."

In short, Art XIV is a protection mechanism for post-conflict or post-war countries to avail of to prevent them from paying their debts and restrict lender countries from collecting what's owed to them. That's why it's called a transitional arrangement, it gives a post-war country the chance to recover economically. Has nothing to do with exchange rates. In fact, currency depreciation is more a result of years of plunder and war. I

So the most important thing is to hope that Iraq get its act together and achieve total PEACE. Without PEACE, it's not going to happen. This is the reason why all this stuff got derailed in the first place, the people of Iraq can't get along. There were some bad decisions made.

[rockinrich]

hey the gent you apparently must be talking about cap 1 not kaperoni cause ive been to many chat rooms and been banned from most because they dont want you to speak the truth and kaperoni's site doesnt ******** anybody he goes off factual articles and nothing else so if the articles are lying then thats not kap's fault at least he's trying to get the truth unlike other moronic guru's!

Edited by cisole, 17 February 2012 - 12:18 PM.
Profanity

[Riverdawg]

Another window... I'd hate to have to clean all these windows...

rd