backward from shabibi

[jericho]

Okay, everyone agrees that shabibi is the guy who will pull the trigger on an rv, right?

So help me work backwards from there. He has to get a request from someone...who? What

process is called for in making that request? Is there a criteria for being able to make the request?

Also, some have said he has a rate maybe three. Could those be the treasury rate/private bank rate/public

bank rate? How and/or who would set that rate or rates?

Sometimes working backwars helps me cut through all the bs.

[ECSxFenrir]

Okay, everyone agrees that shabibi is the guy who will pull the trigger on an rv, right?

So help me work backwards from there. He has to get a request from someone...who? What

process is called for in making that request? Is there a criteria for being able to make the request?

Also, some have said he has a rate maybe three. Could those be the treasury rate/private bank rate/public

bank rate? How and/or who would set that rate or rates?

Sometimes working backwars helps me cut through all the bs.

I asked a question about Shabibi on another post and no replies yet. I can't answer your question but I want to present mine here again.

Everyone speaks of Shabibi's word and that he has stated he will not let this go past 2010. Where does this info come from is my question. I'm placing doubt on it. Jut trying to find a source and get some understanding like the member who started this post.

[Randy Lucas]

I have not heard that either. Thank You for the Post!

[crack]

I asked a question about Shabibi on another post and no replies yet. I can't answer your question but I want to present mine here again.

Everyone speaks of Shabibi's word and that he has stated he will not let this go past 2010. Where does this info come from is my question. I'm placing doubt on it. Jut trying to find a source and get some understanding like the member who started this post.

I know I`ll get bashed for this , I`ve watched these forums for a couple of years now and still til this day I HAVE NOT seen any Legit Documentation of Shabb saying anything of the sort . The guys on here will just tell you to do your research in the site , wish I could help but like I said " never seen it myself " or read it anywhere . If someone can dispute this THEN point the way and put the doubt out of some peoples minds .Only legit ( I think it is )document I have read , it states " Redomination " Remember this is only an OPINION . Have a nice day

Edited November 26, 2010 by crack

[r.fine]

I would like to see that also

[crack]

I would like to see that also

Would be nice for sure but can`t see anyone taking the time to prove it though . Only my opinion so be nice .

[tired_of_waiting]

I know I`ll get bashed for this , I`ve watched these forums for a couple of years now and still til this day I HAVE NOT seen any Legit Documentation of Shabb saying anything of the sort . The guys on here will just tell you to do your research in the site , wish I could help but like I said " never seen it myself " or read it anywhere . If someone can dispute this THEN point the way and put the doubt out of some peoples minds .Only legit ( I think it is )document I have read , it states " Redomination " Remember this is only an OPINION . Have a nice day

You Gentlmen strike me as very intelligent. Very good point you bring up, however don't expect a link providing verification of Shabibi himself pulling the trigger.

[crack]

You Gentlmen strike me as very intelligent. Very good point you bring up, however don't expect a link providing verification of Shabibi himself pulling the trigger.

I`m not being an ass here but I am quite sure we all realize that Shabb is not going to post WHEN this will happen just that it is supposed to happen period is all most people are asking . On the ( CBI / IMF whatever ) it states that the Dinar will redenominate in the year 2010 , however it is GOVERNMENT , if you believe what a Government says , well . Have a nice day

[IowaDinar]

There have been many news articles from shabibi stating he will revalue by end of 2010. hope this helps:unsure:

Edited November 26, 2010 by IowaDinar

[tired_of_waiting]

I`m not being an ass here but I am quite sure we all realize that Shabb is not going to post WHEN this will happen just that it is supposed to happen period is all most people are asking . On the ( CBI / IMF whatever ) it states that the Dinar will redenominate in the year 2010 , however it is GOVERNMENT , if you believe what a Government says , well . Have a nice day

I was not trying to be ugly to you. I am in agreement with you. My comment was in referance to my not ever seeing any post's in 3 years stateing that Shabibi would be the triggerman with a link to prove that he is the one. Have a great week-end

[ECSxFenrir]

IowaDinar, would you mind providing me one of those articles? Do you have a link?

Best,

Sager

I 2nd that request.

[dumbnar]

This is back from June 4th 2010 may help

Iraqi central bank governor interviewed on monetary situation

Asked to discuss the global economic crisis and whether it has been contained, Al-Shibibi says this crisis is enormous and "will result in a relatively large recession in both advanced and developing countries." He explains that the crisis originated in the United States as a result of the real estate mortgage problem caused by easy-term loans to encourage individuals to buy real estate, and who later were unable to settle these loans. He adds that because these loans were guaranteed by insurance companies, these companies were obliged to repay the loans to the banks and, thus, some of them became bankrupt along with some investment banks. Concerning the rescue efforts, Al-Shibibi says: "The 700 billion US dollar issue is actually the beginning, because the pumping of this cash into this sector has yet to prove that it was a successful measure." He adds that "the other solution that should have been followed is moving to the real economic sectors; that is, all these sums of money should have been used to finance real issues," explaining that the bailout helped settle certain marginal issues only.

Asked whether the Iraqi economy will be affected by the global economic crisis and how great this effect will be compared to advanced and developing countries, Al-Shibibi says the effect of this crisis differs from one country to another, noting that Iraq's concern is over the drop in the demand for oil. He adds: "The sharp drop in the demand for oil has greatly impacted the revenue of these countries, but on the other hand and since oil is evaluated by the US dollar, a partial compensation has materialized," explaining that the net effect is less than what was estimated.

Asked about the relations between the Central Bank and the Iraqi government, Al-Shibibi says: "Although the Central Bank is part of the state's system and works alongside the government, it has its own independent policies," explaining that some of these policies cut across the government's course of action, but at the same time "they stabilize the exchange rate, increase reserves, and contribute to other matters that benefit Iraq and the Iraqi society in general." He also explains that the Central Bank is actually a bank for reserves, which controls foreign and local bank reserves, adding that by maintaining the stability of currency, the Central Bank helps the government "to plan its expenditures securely."

Rahim notes that some accuse the Central Bank of adopting strict policies in order to control inflation, and others justify these policies saying that these policies are dictated by the IMF, and he asks Al-Shibibi to comment.

Al-Shibibi says this matter should not be exaggerated, noting that the Iraqi Government, not the Central Bank, has an agreement with the IMF,and the Central Bank implements the government's monetary policies.

He adds that the IMF sets terms in every agreement it signs with every country, and "while negotiating with the IMF, we try to make these terms as easy as possible. At the same time, we try to impose certain matters on the IMF," explaining that these negotiations aim at reducing 80 per cent of Iraqi debts. He adds that when Iraqi debts are reduced by this percentage, the budget costs will decrease and the speculations concerning its implementation become more certain. He says: "The 80 per cent reduction in debts, which we were able to obtain from the Paris Club, is the highest percentage ever given to a middle-income country in the entire world."

Asked to explain in return for what, he says in return for policies that Iraq should implement.

Rahim also notes that the IMF asked the government to raise the price of oil derivatives and to postpone payment of the difference in salaries that was due following the recent salary increase, and he asks Al-Shibibi to explain the Central Bank's position on this. Al-Shibibi says "the IMF policies were in line with the objective to curb inflation," explaining that their outcome was for the benefit of Iraq, particularly in strengthening the purchasing power of the Iraqi dinar, which should remain under control at all times. He adds that "the Central Bank's general monetary policy is not a long-range policy; rather, it is revised every six or three months in order to monitor where things are heading." Rahim says that what is happening in Iraq today is that local banks are collecting Iraqi dinars from the market and depositing them with the Central Bank in return for a certain interest; thus, making profits at the Central Bank's expense, while they should be lending money to companies and individuals to invest in various sectors. Al-Shibibi confirms that this is the case, explaining that the Central Bank's main objective is to maintain the stability of the currency.

Asked whether the studies on inflation prepared by the Central Bank conform to the studies prepared by the Iraqi Central Apparatus for Exemption, because some believe that there is a disparity between the two, Al-Shibibi says: "The brothers in this apparatus and the Planning Ministry provide us with data on inflation; we then make our calculations to find out the rate of the core inflation on which we build our monetary policies, which aim at maintaining monitory stability," adding: "We take this data, but we design the policy." He explains that while preparing these studies, the Central Bank takes into consideration the outcome of the budget's expenditures in terms of the production attained from such expenditures.

Asked to explain whether recent salary increases approved for civil servants have caused an increase in the cost of living or inflation, Al-Shibibi says inflation should be treated by further spending from the budget," explaining that "inflation is actually a real fact, rather than a monetary issue," which means that it is caused by certain sectors that fall under the authority of the Planning and Finance Ministries. He adds that the Central Bank can only interfere when production results from budget expenditures. Asked in what way the Central Bank will interfere, Al-Shibibi says "it can interfere in the monitory policy, such as raising interest rates, holding back liquidity, or raising exchange rates. It is a firm policy in order to handle the current situation." Rahim notes that the Central Bank has reduced the interest rate to 15 per cent. Al-Shibibi confirms that it has done so, because things have improved. Asked whether this reduction took place as a result of the global economic crisis, Al-Shibibi says it is more related to the efficiency in implementing the budget by the Finance and Planning Ministries as well as the various concerned sectors. He explains that the Central Bank is against adopting strict policies, but is currently doing so until expenditures become more productive.

Asked whether the removal of three digits from the Iraqi currency is a step aimed at curbing inflation, Al-Shibibi says this issue has nothing to do with inflation, but the concerned parties are taking this issue into great consideration and giving it precedence over other issues, such as the implementation of certain monetary policies and reserve investments. He adds: "We monitor the value of the Iraqi dinar vis-A -vis the US dollar, which is relatively stronger than the dinar," noting that the digits issue is currently under serious review. Asked whether there is a timeframe for making a decision on this issue, he denies that there is, explaining that this depends on the circumstances and the exchange rate policies.

Rahim notes that the Central Bank has fixed the exchange rate for the US dollar and that it is the only party that controls any increase or decrease in this rate, and he asks Al-Shibibi to confirm this. Al-Shibibi confirms that this is true, "because managing the exchange rate mainly helps in curbing inflation. The system by which we determine the exchange rate is called 'managed float system,' which means that the price of the dinar is kept floating but is closely monitored so that it can be managed whenever a tangible change occurs." He adds that this floating system is linked to the supply and demand for the US dollar, explaining that the Central Bank is obliged to guarantee 100 per cent of the demands by Iraqi banks for the US dollar; otherwise, they might buy it from other local sources at a cheaper price, resulting in the presence of more than one price, which is against the bank's current policy. Asked whether the Central Bank has sufficient amounts of foreign currency to meet the market's demand, Al-Shibibi says that the bank is obliged to meet the demand in full, adding: "We believe that our reserves are sufficient to meet such demand." He explains that any request for foreign currencies that takes place in the currency auction is reviewed carefully before it is approved, requiring the Central Bank to always make foreign currencies available. He notes that the Central Bank receives requests for foreign currency in amounts ranging from 150 to 200 millions daily, [currency not specified], which means that it should be able to meet this demand. He explains that exchange rate fluctuation is more dangerous than any drop in the exchange rate.

Another one from

Interview with Shabibi – Iraqi central bank governor interviewed on monetary situation

* Interview with Shabibi – Iraqi central bank governor interviewed on monetary situation

AUGUST 20, 2010 BY FRED WILSON

Iraqi central bank governor interviewed on monetary situation

Al-Iraqiyah Television on 22 November carries a new episode of its “Special Encounter” programme in which anchorman Aziz Rahim interviews Iraqi Central Bank Governor Dr Sinan al-Shibibi.

Asked to discuss the global economic crisis and whether it has been contained, Al-Shibibi says this crisis is enormous and “will result in a relatively large recession in both advanced and developing countries.” He explains that the crisis originated in the United States as a result of the real estate mortgage problem caused by easy-term loans to encourage individuals to buy real estate, and who later were unable to settle these loans. He adds that because these loans were guaranteed by insurance companies, these companies were obliged to repay the loans to the banks and, thus, some of them became bankrupt along with some investment banks. Concerning the rescue efforts, Al-Shibibi says: “The 700 billion US dollar issue is actually the beginning, because the pumping of this cash into this sector has yet to prove that it was a successful measure.” He adds that “the other solution that should have been followed is moving to the real economic sectors; that is, all these sums of money should have been used to finance real issues,” explaining that the bailout helped settle certain marginal issues only.

Asked whether the Iraqi economy will be affected by the global economic crisis and how great this effect will be compared to advanced and developing countries, Al-Shibibi says the effect of this crisis differs from one country to another, noting that Iraq’s concern is over the drop in the demand for oil. He adds: “The sharp drop in the demand for oil has greatly impacted the revenue of these countries, but on the other hand and since oil is evaluated by the US dollar, a partial compensation has materialized,” explaining that the net effect is less than what was estimated.

Asked about the relations between the Central Bank and the Iraqi government, Al-Shibibi says: “Although the Central Bank is part of the state’s system and works alongside the government, it has its own independent policies,” explaining that some of these policies cut across the government’s course of action, but at the same time “they stabilize the exchange rate, increase reserves, and contribute to other matters that benefit Iraq and the Iraqi society in general.” He also explains that the Central Bank is actually a bank for reserves, which controls foreign and local bank reserves, adding that by maintaining the stability of currency, the Central Bank helps the government “to plan its expenditures securely.”

Rahim notes that some accuse the Central Bank of adopting strict policies in order to control inflation, and others justify these policies saying that these policies are dictated by the IMF, and he asks Al-Shibibi to comment.

Al-Shibibi says this matter should not be exaggerated, noting that the Iraqi Government, not the Central Bank, has an agreement with the IMF, and the Central Bank implements the government’s monetary policies.

He adds that the IMF sets terms in every agreement it signs with every country, and “while negotiating with the IMF, we try to make these terms as easy as possible. At the same time, we try to impose certain matters on the IMF,” explaining that these negotiations aim at reducing 80 per cent of Iraqi debts. He adds that when Iraqi debts are reduced by this percentage, the budget costs will decrease and the speculations concerning its implementation become more certain. He says: “The 80 per cent reduction in debts, which we were able to obtain from the Paris Club, is the highest percentage ever given to a middle-income country in the entire world.” Asked to explain in return for what, he says in return for policies that Iraq should implement.

Rahim also notes that the IMF asked the government to raise the price of oil derivatives and to postpone payment of the difference in salaries that was due following the recent salary increase, and he asks Al-Shibibi to explain the Central Bank’s position on this. Al-Shibibi says “the IMF policies were in line with the objective to curb inflation,” explaining that their outcome was for the benefit of Iraq, particularly in strengthening the purchasing power of the Iraqi dinar, which should remain under control at all times. He adds that “the Central Bank’s general monetary policy is not a long-range policy; rather, it is revised every six or three months in order to monitor where things are heading.”

Rahim says that what is happening in Iraq today is that local banks are collecting Iraqi dinars from the market and depositing them with the Central Bank in return for a certain interest; thus, making profits at the Central Bank’s expense, while they should be lending money to companies and individuals to invest in various sectors. Al-Shibibi confirms that this is the case, explaining that the Central Bank’s main objective is to maintain the stability of the currency.

Asked whether the studies on inflation prepared by the Central Bank conform to the studies prepared by the Iraqi Central Apparatus for Exemption, because some believe that there is a disparity between the two, Al-Shibibi says: “The brothers in this apparatus and the Planning Ministry provide us with data on inflation; we then make our calculations to find out the rate of the core inflation on which we build our monetary policies, which aim at maintaining monitory stability,” adding: “We take this data, but we design the policy.” He explains that while preparing these studies, the Central Bank takes into consideration the outcome of the budget’s expenditures in terms of the production attained from such expenditures.

Asked to explain whether recent salary increases approved for civil servants have caused an increase in the cost of living or inflation, Al-Shibibi says inflation should be treated by further spending from the budget,” explaining that “inflation is actually a real fact, rather than a monetary issue,” which means that it is caused by certain sectors that fall under the authority of the Planning and Finance Ministries. He adds that the Central Bank can only interfere when production results from budget expenditures. Asked in what way the Central Bank will interfere, Al-Shibibi says “it can interfere in the monitory policy, such as raising interest rates, holding back liquidity, or raising exchange rates. It is a firm policy in order to handle the current situation.” Rahim notes that the Central Bank has reduced the interest rate to 15 per cent. Al-Shibibi confirms that it has done so, because things have improved.

Asked whether this reduction took place as a result of the global economic crisis, Al-Shibibi says it is more related to the efficiency in implementing the budget by the Finance and Planning Ministries as well as the various concerned sectors. He explains that the Central Bank is against adopting strict policies, but is currently doing so until expenditures become more productive.

Asked whether the removal of three digits from the Iraqi currency is a step aimed at curbing inflation, Al-Shibibi says this issue has nothing to do with inflation, but the concerned parties are taking this issue into great consideration and giving it precedence over other issues, such as the implementation of certain monetary policies and reserve investments.

He adds: “We monitor the value of the Iraqi dinar vis-A-vis the US dollar, which is relatively stronger than the dinar,” noting that the digits issue is currently under serious review. Asked whether there is a timeframe for making a decision on this issue, he denies that there is, explaining that this depends on the circumstances and the exchange rate policies.

Rahim notes that the Central Bank has fixed the exchange rate for the US dollar and that it is the only party that controls any increase or decrease in this rate, and he asks Al-Shibibi to confirm this. Al-Shibibi confirms that this is true, “because managing the exchange rate mainly helps in curbing inflation. The system by which we determine the exchange rate is called ‘managed float system,’ which means that the price of the dinar is kept floating but is closely monitored so that it can be managed whenever a tangible change occurs.” He adds that this floating system is linked to the supply and demand for the US dollar, explaining that the Central Bank is obliged to guarantee 100 per cent of the demands by Iraqi banks for the US dollar; otherwise, they might buy it from other local sources at a cheaper price, resulting in the presence of more than one price, which is against the bank’s current policy. Asked whether the Central Bank has sufficient amounts of foreign currency to meet the market’s demand, Al-Shibibi says that the bank is obliged to meet the demand in full, adding: “We believe that our reserves are sufficient to meet such demand.” He explains that any request for foreign currencies that takes place in the currency auction is reviewed carefully before it is approved, requiring the Central Bank to always make foreign currencies available. He notes that the Central Bank receives requests for foreign currency in amounts ranging from 150 to 200 millions daily, [currency not specified], which means that it should be able to meet this demand. He explains that exchange rate fluctuation is more dangerous than any drop in the exchange rate.

Thanks

Dumbnar

[dumbnar]

Another thing FOX New had several interveiws with Al-Shabibi but now the links are down?

http://www.foxnews.com/search-results/search?q=al-shabibi

Thanks

Dumbnar

[jericho]

So it seems the cbi is the sole party controlling the rate of the dinar. A post from a few days ago explained

what a central bank is and how it works. Kind of blew my mind that the federal reserve is privately

owned and operated. Anyway, the cbi would apparently be ultimately responsible for "pulling

the trigger" on what we all call an rv. Can we work backwards from there on what would be required

to get to that point?

This whole process last occured in kuwait, correct? It may be apples and oranges, or asking too much, but

it would be great to draw some parallels with kuwaits rv.

I don't want a date or a rate. Just try and help me understand what it takes for the cbi or the great shabman

to to release a new rate. I don't even really care how that rate gets determined...for now.

Thanks all the replies thus far.

[TNTDINAR]

Just so you know, the same people own the CBI, that own the Federal Reserve. It is fairly easy to look up. Have a great night.

[GeologyGirl]

Just so you know, the same people own the CBI, that own the Federal Reserve. It is fairly easy to look up. Have a great night.

Very true!

[Bocadinar]

I Believe we are waiting for Chapter 7 to be lifted. Then and only then will the wheels turn...

[Floridian]

Okay, everyone agrees that shabibi is the guy who will pull the trigger on an rv, right?

So help me work backwards from there. He has to get a request from someone...who? What

process is called for in making that request? Is there a criteria for being able to make the request?

Also, some have said he has a rate maybe three. Could those be the treasury rate/private bank rate/public

bank rate? How and/or who would set that rate or rates?

Sometimes working backwars helps me cut through all the bs.

Last night, I listened to a conference call from Frank26 of KTF Missions. He stated that this is the "Chain of Command":

1. UN and US give orders to

2. IMF and USA who give orders to

3. GOI who gives orders to

4. CBI and Shabibi

I realize US and USA mean the same and are listed twice. I have no idea why. However, Frank26 said the above order of things is what you have to watch.

Don't know if this helps.

[ReachingHigher]

dumbnar -

Thanks for the media articles but if you notice though they may be from June and August respectively - if you read all the way through them they are EXACTLY the same article. Very interesting to see how they "recycle" these articles again and again.

Appreciate your bringing them forward but sure brings to light how the media is used over there in some...

pretty interesting ways.

Peace!

[jericho]

TNTDinar, it's the Rothschild family. I don't know if i've fully digested that great post from the other day,

but I do remember that name.

Floridian, that's consistent with what i've heard. Seems like all are ready/needy except the GOI.

Did a central bank pull the trigger in kuwait? Was it the flippin' Rothschilds there too?

[mrref]

Okay, everyone agrees that shabibi is the guy who will pull the trigger on an rv, right?

So help me work backwards from there. He has to get a request from someone...who? What

process is called for in making that request? Is there a criteria for being able to make the request?

Also, some have said he has a rate maybe three. Could those be the treasury rate/private bank rate/public

bank rate? How and/or who would set that rate or rates?

Sometimes working backwars helps me cut through all the bs.

YOU ARE ASKING QUESTIONS THAT ONLY ONE PERSON CAN ANSWER AND THAT IS SHABIBI AND GOOD LUCK WITH THAT

Edited November 27, 2010 by mrref

[tim5400]

Asked whether the removal of three digits from the Iraqi currency is a step aimed at curbing inflation, Al-Shibibi says this issue has nothing to do with inflation, but the concerned parties are taking this issue into great consideration and giving it precedence over other issues, such as the implementation of certain monetary policies and reserve investments. He adds: "We monitor the value of the Iraqi dinar vis-A -vis the US dollar, which is relatively stronger than the dinar," noting that the digits issue is currently under serious review. Asked whether there is a timeframe for making a decision on this issue, he denies that there is, explaining that this depends on the circumstances and the exchange rate policies.

Read more:

[dumbnar]

Last night, I listened to a conference call from Frank26 of KTF Missions. He stated that this is the "Chain of Command":

1. UN and US give orders to

2. IMF and USA who give orders to

3. GOI who gives orders to

4. CBI and Shabibi

I realize US and USA mean the same and are listed twice. I have no idea why. However, Frank26 said the above order of things is what you have to watch.

Don't know if this helps.

IMO>>>>Sorry Frank, but I don't believe this to be true, UN and IMF are spineless, and only can do so much, as for CBI and Shabibi they can pull the trigger on this thing but it will not be successful with them doing it, ( bad for Iraq) I think you have UN & IMF are on one side and CBI,GOI & shabibi on the other side and the USA in the middle, playing both sides, and I beleive the current Washington, is playing both sides of the fence to delay. The UN is worthless and history has told us this, every time the UN is called on, they paint a pretty picture but never follow thru. Bush addressed the UN one year and one day after we where attacked, and brought to their attention they need to take action, they never did.

Bush's entire discussion of "regime change," his mobilizing of more than 200,000 troops, and his constant threats of force since September 2001 are in clear violation of International Law Article 2, Section 4 enforced by the UN. And then goes on and wages aggressive war, which is "the ultimate crime" in international law, and Bush could be tried in an international court. But after the war started the UN faded away. Every country everyday is in some form of violation, and they never do any thing about it.

This is my thought and I am no way bashing Frank, I believe he is a stand up Christian guy that I respect, one of the few I believe.

John 3:17

For God did not send his Son into the world to condemn the world, but to save the world through him

Thanks

Dumbnar

Edited November 28, 2010 by dumbnar

[BtrFuture4All]

There have been many news articles from shabibi stating he will revalue by end of 2010. hope this helps

IowaDinar, would you mind providing me one of those articles? Do you have a link?

Best,

Sager

Links to two different articles in this thread. link

"Maliki States new gov't will be formed by Dec10-15"

-- One from Yahoo and one from Bloomberg.