k98nights Posted February 2, 2010 Report Share Posted February 2, 2010 --------------------------------------------------------------------------------Preach: Hello Med, the talk of it having to RV by the end of last yearSFMedic: THERE WAS ABSOLUTELY NO WAY THEY COULD SFMedic: NOT UNTIL THEY HAD BEEN DONE WITH THE SBA PROGRAM lazeroo: sba? SFMedic: STAND BY AGREEMENT SFMedic: OR ACTUALLY THE IMF STABILIZATION PROGRAM FOR DEVELOPING COUNTRIES SFMedic: SEE UNDER THE STABILIZATION PROGRAM SFMedic: IRAQ WAS AS YOU ALL KNOW PEGGED AGAINST THE USD SFMedic: AND FOR ALL THE YEARS UNTIL JULY 2008 SFMedic: IRAQ WAS ONLY AUTHORIZED TO PIP 1/4 OF 1% PER MONTH SFMedic: AGAINST THE USD SFMedic: THEN IN JULY 08, THE IMF AUTHORIZED CBI TO INCREASE IT TO 1/2 OF 1% AGAINST THE USD SFMedic: AT THAT TIME ALSO THE IMF TOLD CBI THEY HAD TO REDUCE THE LIQUIDITY OF THE IQD SFMedic: AND THAT IS WHAT THEY HAVE DONE NOW FOR ALMOST 19 MONTHS SFMedic: IT SHOWS IN THE ACTUAL CASH USD TAKEN IN AT THE AUCTIONS SFMedic: THEY USED TO TAKE IN 50 TO OVER 100 MILLION USD SFMedic: NOW THEY SELL 0$ TO 15 MILLION SFMedic: DEPENDING ON THE USD lazeroo: there almost no IQD going out SFMedic: NO THERE IS NOTSFMedic: AND IT IS AS YOU KNOW ONLY SOLD TO IRAQI'S REGISTERED INSIDE IRAQ lazeroo: isn't that how the sales guys get it ? SFMedic: BECAUSE ACCORDING THE CONSTITUTION CBI IS NOT ALLOWED TO SELL OUTSIDE THE COUNTRY SFMedic: YES BECAUSE ALSO THE CONSTITUTION STATES SFMedic: THAT THE CURRENCY OF IRAQ BELONGS TO THE PEOPLE OF IRAQ AND THEY CAN DO WHATEVER THEY WISH WITH IT Preach: I would have thought that with the fluctuaion in the dollar that we'd have seen pips through out last year. SFMedic: NO THAT IS NOT WHAT CBI AS OF JAN 09 WAS THE MISSION OF CBI SFMedic: THEIR JOB WAS TO PREPARE THE IQD FOR THE INTERNATIONAL MARKET SFMedic: AND TO SEE WHAT WORKS IN CASE OF A MELTDOWN SFMedic: CAN THEY KEEP IT STABLE SFMedic: SO SHABIBI STOPPED IT AT A RATE THAT HE FELT MANAGEABLE SFMedic: SO THEY HAVE USED A DIRTY FLOAT SFMedic: IT IS SEMI PEGGED AGAINST THE USD SFMedic: AND THEN CONTROLLED FROM GOING UP OR DOWN BY THE DIRTY PEG SFMedic: THE DIRTY PEG IS CBI ONLY AUCTIONING OFF ENOUGH TO KEEP THE RATE STABLE AT 1170 SFMedic: AT THE SAME TIME GETTING FOREIGN CURRENCY ASSETS INTO CBI SFMedic: THIS IS DONE BY TRANSFERING OUT USD TO OTHER COUNTRIES FOR USDSFMedic: THE PROBLEM WITH A DIRTY FLOAT SFMedic: IS IT IS EXPENSIVE SFMedic: AND CBI LOSES MONEY AT EVERY AUCTION SFMedic: SO ALL THEY HYPE ABOUT 195 MIL IS JUST THAT SFMedic: HYPE onephatride: so your saying that they cannot keep this dirty float up for much longer? SFMedic: IT MEANS ZIP SFMedic: AND IS NOT BUILDING UP ANYTHING EXCEPT FOREIGN CURRENCY ASSETS FOR CBI SFMedic: THEY SOLD USD SFMedic: OR SWAPPED SFMedic: SEE YOU DO NOT WANT JUST ONE CURRENCY IN YOUR CURRENCY ASSETS SFMedic: YOU WANT MANY COUNTRIES SFMedic: JUST AS USSFMedic: WE NEED TO BUILD UP OUR FOREIGN CURRENCY ASSETS SFMedic: BECAUSE WE PRINTED WAY TOO MUCH MONEY SFMedic: AND ARE ONLY COVERED BY THE FULL FAITH AND CREDIT OF THE US GOVT SFMedic: SEE EVEN WHEN ALL THAT IQD RV'S SFMedic: WE CAN'T KEEP IT TO COVER THE USD SFMedic: BECAUSE TOO MUCH OF ONE CURRENCY IS NOT GOOD SFMedic: IF THE IQD WERE TO PLUMMET SFMedic: SO WOULD THE VALUE OF THE USD SFMedic: SO YOU SWAP IT OUT TO OTHER NATIONS FOR THEIR CURRENCY AND KEEP A % rkpdwp: may I ask a ? SFMedic: SURE lazeroo: don't ya think med that buy now the other country's have worked deals to hold there iqd for oil contractes SFMedic: ACTUALLY NO I DON'Tlazeroo: really ?SFMedic: NO WHY SFMedic: IT IS NOT TRADEABLE SO WHY WOULD IT BENEFIT lazeroo: who do ya think is holding out SFMedic: THE ONLY ONE WHO MIGHT HAVE WAS CHINA SFMedic: BUT NOW LOOK AT CHINA SFMedic: LIKE TWO MONTHS AGO CHINA SAID THEY FORGAVE 80% OF THE DEBT SFMedic: NOW WHAT HAPPENED TO THAT SFMedic: NOW THEY ARE SAYING THEY ARE CONSIDERING IT. lazeroo: well i think they lied SFMedic: SO JUST WHAT IS THE GAME HERE rkpdwp: I have been at this for about 5 years,and I have heard many time that they cannot rv because Iraq has trillions of dinar out side Iraq SFMedic: RKPDWP, UMMM THAT IS TOTAL BS SFMedic: OK THEN THINK OF THIS SFMedic: IF THEY CAN'T RV BECAUSE OF TOO MUCH IQD IN CIRCULATON SFMedic: CIRCULATION SFMedic: SO BECAUSE OF THAT, THEY WILL NEVER HAVE A TRADEABLE CURRENCY SFMedic: AND IF THEY NEVER HAVE A TRADEABLE CURRENCY SFMedic: JUST HOW WILL THEY PAY FOR EVERYTHING THEY HAVE TO IMPORT INTO IRAQ SFMedic: THEY CANNOT MAKE STEEL, GLASS,, WOOD hawkdown: hasent iraq traded idq to other countries for diffrent payments SFMedic: YES THEY HAVE SFMedic: AND MANY OF THOSE COUNTRIES HAVE PROMISED AS WE DID SFMedic: TO SIT ON IT AND WHEN IT DOES RV IT WILL SENT IN AT INTERVALS SFMedic: SO THEY CAN ABSORB IT lazeroo: well the # is 32 trillion iqd they have supposedly printed SFMedic: THAT IS VERY POSSIBLE LAZEROO SFMedic: REMEMBER MUCH OF THE IQD DEBT THOUGH IS NOT HARD CURRENCY SFMedic: IT IS TBILLS AND CBI BILLS SFMedic: AND WHAT WAS SUPENDED FOR 6 MONTHS SFMedic: ANYONE? lazeroo: t bills SFMedic: AND SFMedic: TBILLS MATURE AT 365 DAYS SFMedic: AND CBI AT 180 DAYS SFMedic: THE ONLY THING THEY SUSPENDED WAS TBILLS AND CBI BILLS SFMedic: NOW THE STANCE I TOOK ON THE IMF HAS NOT CHANGED ONE BIT SFMedic: AND IF YOU SEE HOW CHANGES ARE BEING MADE BY MALIKI IT IS COMING TO FRUITION SFMedic: THE IMF HAS NOT CHANGED IT'S POSITION WITH IRAQ ON WHAT THEY NEED TO DO OR WHAT THEY HAVE PUT AS STIPULATIONS FOR THE SOFT LOAN SFMedic: ONE THAT HAS ALREADY COME TO FRUITION IS THE REDUCTION OF GOVT SALARIES SFMedic: MALIKI AT FIRST SAID NO SFMedic: BUT AS WE HAVE FOUND OUT, THEY CAN'T DO SQUAT ON THEIR OWN lazeroo: he was making 330 million daollars a year more below Link to comment Share on other sites More sharing options...
k98nights Posted February 2, 2010 Author Report Share Posted February 2, 2010 SFMedic: AND GRAVELY NEED THE OUTSIDE HELP AND INTERVENTION SFMedic: WHO WAS lazeroo: maliki SFMedic: MALIKI IN DINAR lazeroo: yes SFMedic: SO WHAT IS THAT ABOUT 330,000.00 USD lazeroo: ya kad: when will the 6 mo be up and do you think this will have any baring on the RV? SFMedic: NO KAD SFMedic: THE SIX MONTHS IS ALMOST UP onephatride: they are holding on to what gold that they have.... right med? SFMedic: THE GOLD THEY HAVE IS NOT EVEN IN IRAQ SFMedic: IT IS NY SFMedic: NEW YORKSFMedic: AND BEING HELD BY THE US SFMedic: AND PROTECTED BY US AND THE UN hawkdown: at the tresuary SFMedic: NO SFMedic: IT IS IN NY SFMedic: IT IS SITTING RIGHT NEXT TO KUWAITS lazeroo: omg it was 33o billion dinar lazeroo: most over paid in the world SFMedic: YES I AGREE LAZEROO lazeroo: thats 330 million us right mountainman: dinars SFMedic: NOW THAT GOLD HAS NOTHING TO DO WITH THE VALUE OF THE IQD SFMedic: THE ONLY THING THAT COVERS THE IQD IS THE FOREIGN CURRENCY ASSETS HELD BY CBI SFMedic: THE IMF SAID THEY WERE ALL OVERPAID SFMedic: ALSO THE IMF TOLD THEM THAT WITH THE SOFT LOAN SFMedic: THEY MUST DE NATIONALIZE THE OIL INDUSTRY SFMedic: BECAUSE ANYONE WHO BORROWS FROM THEM CANNOT HAVE CONTROLLING INTEREST OF THE MAJOR INDUSTRY IN THEIR COUNTRY SFMedic: THEY CAN ONLY HOLD 49% SFMedic: AND THE GOI HOLDS ALMOST 100% SFMedic: IT DROPS IF YOU COUNT KURDISTANSFMedic: NOW ALSO ALL IMF LOANS HAVE TO BE PAID BACK WITH A RECOGNIZED CURRENCY FOR IMF LOAN FUND TRANSACTIONS SFMedic: WHICH IRAQ DOES NOT SFMedic: AND I KNOW FROM THE FEBRUARY AND FALL REMARKS BY THE IMF THAT THEY WANTED IRAQ TO REVALUESFMedic: NOW THE IMF DOES NOT HAVE THE AUTHORITY UNLESS UNDER AGREEMENT TO RV A COUNTRY SFMedic: THEY CAN STOP A COUNTRY FROM RV'ING SFMedic: BUT ONLY CAN FORCE IT IF THEY HAVE AN AGREEMENT WITH THAT COUNTRY TO DO SO SFMedic: NOW THE IMF DOES HAVE ONE SFMedic: AND AS OF TODAY OR THE 1ST WHEN THE BUDGET WENT INTO EFFECT SFMedic: SO DID THE ACCEPTANCE OF THE IMF LOAN SFMedic: SO IF THEY WANTED TO BE THE BULLY ON THE BLOCK. THEY COULD TO THEM WHAT THEY DID TO INDIA SFMedic: BUT I AM TOLD THEY ARE GOING TO ALLOW IRAQ TO PULL THE TRIGGER THEMSELVES SFMedic: NOW WHEN IS THE ONLY ISSUE SFMedic: NOT ARE THEY OR IF THEY DO SFMedic: THEY HAVE NO CHOICE Preach: The question becomes then how long will they allow them to wait before they (IMF) has to do something? SFMedic: AND THERE IS A STIPULATION IN THE IMF MEMBER ARTICLES THAT STATES THAT BEFORE A LOAN CAN BE DISBURSED SFMedic: THAT STIPULATIONS MUST BE IN EFFECT FOR 30 DAYS onephatride: ami right by saying that is is just a matter of days SFMedic: WELL I DON'T KNOW SFMedic: THE TBI HAS THE INSIDE TRACK SFMedic: AND THEY HAVE GAVE INFORMATION TO CHASE SFMedic: ONLY BECAUSE CHASE NOW OWNS PART OF TBI lazeroo: they need a little time to finish th gdds stuff SFMedic: THAT IS WHAT I AM TOLD SFMedic: THE GDDS IS A VERY POSITIVE AND TELLING STEP Preach: ??? gdds stuff?? SFMedic: GDDS IS THE GENERAL DATA AND DISSEMINATION SYSTEM SFMedic: IT IS A TRANSPARENT LOOK AT THE GOI AND CBI AND ALL IT'S ASSETS AND DEBTS SFMedic: WE ARE VERY CLOSE SFMedic: NOW THEY I BELIEVE ARE TRYING FEVERISHLY TO GET OUT OF CHAPTER VII SFMedic: THIS WOULD ALLOW THEM UNINHIBITED TRADE WITH ANYONE AND THE REMOVAL FROM OFAC SFMedic: SEE AS LONG AS ON OFAC THEY ARE VERY LIMITED lazeroo: is ofac tied into article 7? SFMedic: NOT REALLY SFMedic: IT IS A US THING SFMedic: SEE KNOWING ABOUT THE IQD AND INVESTING SFMedic: IS NOT JUST HAVING KNOWLEDGE AS AN ECONOMIST SFMedic: NOT EVERYTHING FITS NEATLY INTO WHAT PEOPLE LEARN IN A BOOK SFMedic: THIS IS SO COMPLICATED AND MANY OF THE ISSUES ARE NOT OR WERE NOT RELATED TO ECONOMICS SFMedic: SO IN GENERAL HAVING JUST A DEGREE IN ECONOMICS DOES NOT HELP ALLOT SFMedic: LANACHY IS MORE THAN AN ECONOMIST SFMedic: HE IS LEARNED IN THE INVESTMENT ITSELF hoperv: does iraq currently have a loan from the imf, prior years and if so how did they get it?SFMedic: NO THEY NEVER TOOK A LOAN SFMedic: THEY NEVER USED ANY MONEY THAT THEY USED tudor: any update on Chase?SFMedic: NO NONE acnapprentice: is the GDDS really a big part in the RV? I only wonder because several countries on the same list have worthless currencies SFMedic: IT IS NOT A GIVEN TO AN RV SFMedic: ONLY THAT THEY ARE MAKING POSITIVE CHANGES SFMedic: REMEMBER WHEN GEORGE BUSH SENIOR USED THE THOUSAND POINTS OF LIGHT SFMedic: THAT IS HOW COMPLICATED THIS IS SFMedic: IT IS BRINGING THOSE THOUSAND POINTS OF LIGHT INTO ONE AREA OF PROJECTION SFMedic: EVEN THOUGH IT SEEMS LIKE IT HAS DRAGGED ON SFMedic: IN THE LAST 13 MONTHS MIRACULOUS ADVANCES HAVE TAKEN PLACE SFMedic: I BELIEVE IS THE GOI KEEPS IT'S WORD ON THE PROGRAMS AND INFRASTRUCTURE AND PRIVATE SECTOR DEVELOPMENT SFMedic: THIS WILL BE A GREAT YEAR FOR IRAQ AND IT'S PEOPLESFMedic: I BELIEVE THAT THEY WILL GET OUT OF CHAPTER VII WITHIN THIS SIX MONTHS IF NOT THIS MONTH SFMedic: AND THAT THE HCL WILL BE APPROVED WITHIN THIS SIX MONTHS onephatride: those thousand points of lights are becoming closer and tighter into one area of projection SFMedic: YES THEY ARE SFMedic: AND WHEN THE NEW PARLIAMENT COMES IN SFMedic: HOPEFULLY IT WILL REPRESENT THE PEOPLE OF IRAQ SFMedic: AND NOT THEMSELVES SFMedic: THE U.S. PUTTING A MANDATED PULLOUT OF ALL COMBAT TROOPS FORCES IRAQ TO GROW UP EVEN QUICKER SFMedic: THEY HAVE 7 MONTHS Link to comment Share on other sites More sharing options...
willettemc Posted February 2, 2010 Report Share Posted February 2, 2010 Hi Medic Thank you so much for the information Link to comment Share on other sites More sharing options...
afghanman Posted February 2, 2010 Report Share Posted February 2, 2010 With Malaki such an integral part of the entire "domino" process, I worry that if the RV doesn't happen at a time that can assure Malaki's re-election, a new parliament headed by a new PM, could have disasterous and possibly unrecoverable consequences. Sure every domino must fall, but in terms of the risks to international security there seems to be no rationale for every single player not to be placing Iraq's election as priority number 1, and get that last domino tipped over before time runs out. Its a time for 24/7 diplomacy and action. Sleep after the elections. Link to comment Share on other sites More sharing options...
jw1982 Posted February 2, 2010 Report Share Posted February 2, 2010 thanks to medic and everyone else for there insight and hard work may this be over soon i like a good roller coaster but this ride needs to come to an end soon Link to comment Share on other sites More sharing options...
kordan80 Posted February 2, 2010 Report Share Posted February 2, 2010 Just making a post so I can get into chat Link to comment Share on other sites More sharing options...
DaMe Posted February 2, 2010 Report Share Posted February 2, 2010 Thanks Medic Link to comment Share on other sites More sharing options...
beamerone Posted February 2, 2010 Report Share Posted February 2, 2010 Thanks for your info. Link to comment Share on other sites More sharing options...
2 bbs Posted February 2, 2010 Report Share Posted February 2, 2010 i think we are close also Link to comment Share on other sites More sharing options...
BigT Posted February 2, 2010 Report Share Posted February 2, 2010 K98, thanks for posting. Link to comment Share on other sites More sharing options...
krull Posted February 2, 2010 Report Share Posted February 2, 2010 Thanks for the post Link to comment Share on other sites More sharing options...
kdawg Posted February 2, 2010 Report Share Posted February 2, 2010 thanks 4 the info Link to comment Share on other sites More sharing options...
dwise68 Posted February 2, 2010 Report Share Posted February 2, 2010 k98 thanks for posting the info....learn a little more each day Link to comment Share on other sites More sharing options...
cynergy Posted February 2, 2010 Report Share Posted February 2, 2010 Thanks K98 and Medic. I enjoy your posts Link to comment Share on other sites More sharing options...
tatebound Posted February 2, 2010 Report Share Posted February 2, 2010 i hope this guy is right Link to comment Share on other sites More sharing options...
Tiberius Posted February 2, 2010 Report Share Posted February 2, 2010 thanx for the intel Link to comment Share on other sites More sharing options...
dinar13 Posted February 2, 2010 Report Share Posted February 2, 2010 thank you so much lets rv now Link to comment Share on other sites More sharing options...
dinar13 Posted February 2, 2010 Report Share Posted February 2, 2010 now !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!please Link to comment Share on other sites More sharing options...
Linduh2 Posted February 2, 2010 Report Share Posted February 2, 2010 With Malaki such an integral part of the entire "domino" process, I worry that if the RV doesn't happen at a time that can assure Malaki's re-election, a new parliament headed by a new PM, could have disasterous and possibly unrecoverable consequences. Sure every domino must fall, but in terms of the risks to international security there seems to be no rationale for every single player not to be placing Iraq's election as priority number 1, and get that last domino tipped over before time runs out. Its a time for 24/7 diplomacy and action. Sleep after the elections.i agree imo smarter to go with malaki than newly elected leaders when dealing with the rv Link to comment Share on other sites More sharing options...
miamistud62 Posted February 2, 2010 Report Share Posted February 2, 2010 yes but long story short what does this all mean Link to comment Share on other sites More sharing options...
andak Posted February 2, 2010 Report Share Posted February 2, 2010 Thanks for all the info. Hopes are still alive. Link to comment Share on other sites More sharing options...
kjurb Posted February 2, 2010 Report Share Posted February 2, 2010 you always put up great info k98 Link to comment Share on other sites More sharing options...
msfun Posted February 2, 2010 Report Share Posted February 2, 2010 thanks for the info Link to comment Share on other sites More sharing options...
kennyw Posted February 2, 2010 Report Share Posted February 2, 2010 hmmmmmmmmmmmmmmmmm Link to comment Share on other sites More sharing options...
Boots8310 Posted February 2, 2010 Report Share Posted February 2, 2010 Thanks for the picture!!!! I mean post. Link to comment Share on other sites More sharing options...
Recommended Posts