Kaperoni + Enorrste - Article: "Iraqi Central Bank Lends Banks $ 5 Billion At The Request Of Parliament"!

[DinarThug]

CNN. Broadcasting While Enorrste Subtlety Throws Kaperoni Under The Bus For Initially Freaking Out Last Week Over The 50k + 100k Notes !

 

 

 

5-19-2015   Newshound Guru Kaperoni  Article:  "Iraqi Central Bank lends banks $ 5 billion at the request of Parliament"  Quote:   "Central Bank of Iraq has decided for the first time in its history, opening its vaults, and start lending sector and civil government banks the amount of $ 5 billion."   

The reality is that the banking sector came to Iraq in hopes of participating in the investment and reconstruction of Iraq. 

And the GOI, parliament and ISIL have stalled progress to the point that now the banking system is failing. 

We all knew this...we all saw it. You can only sell dollars at auction for commission for so long...and selling cars out back is not really banking business either. 

So the CBI is in a predicament...they are going to bail banks out using reserves to save the weak financial system.

Certainly not a way to show the world you are ready for investors.

Not a good solution any way you look at it.

 

 

5-19-2015   Newshound Guru Enorrste  Article:  "Iraqi Central Bank lends banks $ 5 billion at the request of Parliament"  Quote:  "Central Bank of Iraq has decided for the first time in its history, opening its vaults, and start lending sector and civil government banks the amount of $ 5 billion."   

The plan has existed since 2007 and is still intact.  

Blips have occurred along the way numerous times.  Saleh was arrested; Shabibi had to leave the country; Maliki was a serious setback; Turki was a fool.  

In addition to that, Iraq moves at a snail's pace.  

HOWEVER, and this is very important, the long view is very solid.  

The CBI is clearly on record with a GOAL that is consistent with the character of the country.  

No small "blip" is going to change that, and no single event is going to change the "plan".   

We saw [some] freak out with the announcement of the introduction of the larger notes (50 and 100k) only to find out that Saleh had talked about it 4 years ago, AS PART OF THE PLAN!  

 

 

5-19-2015   Newshound Guru Enorrste   Now we see this "unprecedented" move of lending money to banks...for INVESTMENT purposes.  Furthermore, $5 billion in investment will go a long way toward jump starting the small and medium businesses in Iraq.  What could be bad about that?  Nothing! Who would better know what is needed than the CBI?    ...it is important to realize that this is an international event, and a nation that isn't stupid, as some might believe.  These people may act differently and on a different time frame than we do, but they aren't stupid.  These people not only are seasoned, in most cases, but they also have the backing of the IMF and WB.  They don't do things in a vacuum.   I also think that it is a good decision, even if unprecedented.  They aren't risking the whole pie...They are just trying to jumpstart some needed economic growth. Give this time.  That is one thing that Iraq is very good at exploiting.

 

 

5-19-2015   Newshound Guru Enorrste   Think about what happened over the weekend.  

Ramadi falls.  ...ISIS is a serious concern.  

You are mistaken that they control 1/3 of the country.  

It isn't nearly that large.  

Still, the loss of Ramadi is significant...  

Is this a good time for the CBI to MOVE FORWARD or, instead, a good time to buckle down and keep the ship afloat?  It really is just that simple, folks.  I am not "throwing in the towel."  Not at all.  

There is a process involved here, and it must work its way out.  

I noted, for instance, that the major "accountant" for ISIS was captured or killed today in Syria.  In addition, a number of computers were retrieved as well as cabinets full of documents.  

ISIS funding will dry up shortly, in my view.  

Thus, it would not surprise me to see the tide turn, possibly dramatically, in the near future.