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ReVbo
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Posts posted by ReVbo
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The official reports that the Central sold last Thursday, nearly 250 million dollars and was able to absorb three trillion dinars during the last month for selling two billion dollars
If this is true and you look at this years auctions since US pulled out we must be the only ones left holding dinars.
Thanks Yota and Gama
Cue Keep with his standard rebuttal.
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Thanks for the post idplzr!
I believe this is just another opinion on the wording of statements made by CBI or who ever is being quoted in this chat by Kaperoni. No one will be certain about what the CBI has planned until that plan is implemented and fully announced by the CBI.
This wording I put in bold is confusing at best..., "WHO?", "WHAT BOOK?"
. Was this edited and reposted with some parts missing or am I just ignorant?[kaperoni] "The central bank said in his book: in line with the best applications and international experiences, he decided to stop the basic parameters of the currency notes of the categories (25000,10000,5000) JD Almtdolh now as it is in the new series (25,10,5) dinars so that the audience is also imprinted with a thousand in his memory."
I think "book" usually means something like "statement." I've seen it a few times recently. I'll sure be looking for it more now, though.
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That is all.
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Stop breaking your promises to them, and maybe they'll play nicer, you freaking tyrant.
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"This video is currently unavailable."
Can we get a summary, TAFKA?
Nevermind. I think I found another link.
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Hatin' on Jews, now. We are witnessing the last gasps of a dying wanna-be dictator.
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He stated to All Iraq News Agency (AIN) "We will not remain as spectators towards the illogical performance of some political sides who ignored us as partners in the political process and went on in their project to withdraw confidence from Maliki."
"The SLC attempted many times to calm down the tensions and called for holding the national conference, yet, some blocs insisted on toppling Maliki," he added.
Poor, pitiful little SLC. What a bunch of whiney b!tches. As if their guy, Maliki, hasn't had two years to implement the agreements that brought him to power in the first place. He has jerked everyone around, talking about implementation and national conferences/meetings/committees/pre-committees/pre-pre committees for months on end with zero results. Yeah, let's do that SLC. Let's talk about another National Conference that your guy will delay, delay, delay, until it blows over and he's consolidated just a little more power.
Keep the heat on, Erbil 5. These guys are getting more desperate and crazy by the day.
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Hey, ReVbo, see you on Saturday. I just posted Enorrste's response on in Opinions. I hadn't seen yours here.
PS you get around, don't you?
I read a lot, KK.
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ugh it hurts to do this because as a rule I disagree with Keepm but I wouldn't neg him so much because the G.E.T. team is notorious for a lot of guru pumping however if it is a real article then it is difficult to refute the breakdown of it no matter who the source is... honestly when the RV does pop I don't care if it's Santa telling me I'm going to give him the benefit of the doubt.
Do you guys not recognize the name? That's not some guru pumper. That's Stryker, from here. He posted that here earlier today. GET Team just picked it up.
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Thanks, Enorrste. I appreciate you taking the time to clear this up, and I'm looking forward to your next CC.
Supposed to be having one on Saturday.
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Enorrste's response, just posted:
The following comments are being made by me to clear up the obvious confusion that has arisen and will arise over the article entitles “Conscious / deletion of zeros from the currency…Decision is preceded by the fear of citizens and economist warned / achievement.”
This article was originally posted on our forum on April 13 but was overlooked by all since there were no highlights in the article. It came from the Investigative Journalism section of an Arabic online newspaper by the name of Al-Iraq News.
The article consists of analysis made by the unnamed reporter dealing with three interviews he held. The interviewees were Hashimi Afaihan, the Chairman of the Chamber of Commerce (presumably in Baghdad), Dr, Jawad Al-Bakri, professor at the College of Economics and Business University of Babylon, and Dr. Abdul Hussein Al-Anbuge, Prime Minister for Economic Affairs in the Iraqi government. In addition, at the end of the article, there is a reference to a statement made by Mohammed Saleh, deputy of the Central Bank of Iraq.
It is important that understand the backgrounds of these players in order to gain knowledge of the meaning and motivation behind their comments. With this knowledge we will be able to place their comments in the proper perspective. This will allow us to separate the “wheat from the chaff.”
Hashemi Afaihan is an ardent enemy of the Central Bank of Iraq. He and Mohammed Saleh have had occasion to battle in the press recently. Here is a quote from an article in which Saleh was defending the role of the Central Bank of Iraq regarding the fall in the value of the dinar against the dollar recently:
“The head of the Chamber of Commerce of Babylon Engineer Sadiq Hashem Afaihan Mamouri lack of sufficient experience with economic advisers in The Iraqi government has led to instability in the monetary policy in Iraq. He explained in a statement (citizen): If left the country under a policy of political consensus, all the facilities of the State is going to lag and inertia to Atianha with people incompetent and do not have sufficient experience which qualifies them in the administration, and that the Iraqi state After changing the system were not based on economic efficiencies of large and efficient management of the economic file the correct form of Iraq and began to be subject to Mhassat abhorrent that the pain is not brought to the Iraqis and their suffering increase Bartqa people to positions they are not worthy of their management under the principle of the wrong person ..The Iraqi economists have no role in solving the economic problems did not give them none of this role as well as economic advisers in the Iraqi government do not have experience in the management of the Iraqi economy, despite the passage of more than eight years on the Iraqi experience of modern, but the politicians did not benefit from their experiences and has continued to insist on the principle of consensus is fruitful in the wheel of economic development.” (http://iraqidinarchat.net/?p=2199)
It is clear from this direct quote from Hashimi Afaihan that he believes himself to be superior to everyone else in the Iraqi government when it comes to economics. In short, he is “full of himself.” Therefore, anything that he writes on the issue of removing the three zeros must be taken with a grain of salt, since he clearly believes that he knows it all and that everyone else, including the Central Bank of Iraq, is incompetent.
Dr. Al-Bakri, on the other hand, has given seminars on behalf of the Central Bank of Iraq around the country. Kaperoni posted an article in which Dr. Bakri stated that if you paid 1000 dinars for a pack of cigarettes before the revaluation and removal of the three zero notes, then that same 1000 dinars would buy you 1000 packs of cigarettes after the revaluation and removal of the three zeros. More importantly, it is Dr. Bakri who uses the “pros and cons” argument when discussing the revaluation of the dinar. In the article I am discussing now he makes the point that the removal of the three zeros will stop the dollarization of the economy of Iraq. We have discussed on several calls that this will only work if the dinar becomes worth at least a dollar. While it is possible that a LOP would make the dinar worth a dollar, the same Dr. Bakri is on record with another “pro” argument that the revaluation will involve a substantial INCREASE in the value of the dinar. Also, his cigarette analogy specifically states that the same 1000 dinar note would buy 1000 packs of cigarettes after the RV. If there were a LOP, the 1000 dinar note would equal 1 dinar only, and would therefore only buy 1 pack of cigarettes. Therefore we have Dr. Bakri implicitly stating in this article that this is NOT a LOP. I suspect that he was not present when Hashemi Afaihan had his interview with the author of the article and therefore had no idea that Afaihan would be making such a stupid mistake. Had he known about what was going to be put in the article ahead of his own comments, he would have corrected Afaihan.
The next person quoted is Abdul Hussein Al-Anbuge. In January of this year he came out against the Central Bank’s proposal to move forward with the “remove the three zeros project” and said the following:
“Criticized the Adviser to the Prime Minister for Economic Affairs Abdul Hussein Al-Anbuge, Saturday, the Iraqi Central Bank's policy to lift the Iraqi dinar against the U.S. dollar, while noting that the bank had not coordinated with the economic system in addressing the situation, saying that such policy violates the productive base in Iraq.
Said Abdul Hussein Al-Anbuge in an interview for "Alsumaria News", "the central bank to raise the Iraqi dinar against the U.S. dollar at the present time is true that the rise is real," noting that "the image of the Iraqi economy is reflected in the exchange rate of the dinar."
He Anbuge "Raising the price of the Iraqi dinar in this way now will contribute to enhancing the phenomenon of economic rent because it will make imports cheaper and thus lead to a deepening of this phenomenon," adding that "this phenomenon will feel the citizen that he should remain imports which are not the productive base in the Iraqi economy which seeks to get to the economic development in all other sectors." (http://www.burathanews.com/news_article_147376.html)
Dr. Al-Anbuge has been negative on the CBI proposal for quite some time. He is a member of the Council of Ministers under Maliki and was largely responsible for Resolution 107 that was passed in April in which the Council of Ministers passed a resolution that would “indefinitely” delay the “remove the three zeros project.” As we all know, this fell on deaf ears in both the CBI and in Parliament. The Council was forced to admit that it had overstepped its authority and then “begged” the Parliament to delay the project, just as they did with the tariff law, which Parliament refused to delay.
More importantly, however, is the fact that in the January 28 statement made by Al-Anbuge above it is clear that he understands that the revaluation will indeed lead to a “raising the price of the dinar,” as quoted above. In addition he calls the change in value “real” because it would “make imports cheaper.” Only a revaluation will have this affect. A LOP will not do that.
Therefore, we are left with a Chairman of the Chamber of Commerce who is a bloviator and who is clearly an egomaniac who in ill-informed, a Professor of Economics who has staunchly defended the revaluation and laid it out clearly that it is NOT a LOP, and a disgruntled Minister of Economics from within the Maliki government who knows the truth but is still trying to delay it!
This in itself would be enough to squelch the “apparent” import of this article. However, there is one more tidbit that needs to be addressed, and that is the statement made by Saleh in this article. Here is the quote referring to him:
"That the draft lifting the three zeroes from the currency made by the government five years ago to the bank Central, and has undergone during this period to an extensive study over the need to raise zeros to strengthen the value of the currency of Iraq." (http://dinaralert.webs.com/apps/forums/topics/show/7786283-conscious-deletion-of-zeros-from-the-currency-decision-is-preceded-by-the-fear-of-citizens-and-economists-warned-achievement-)
There are two important parts to Saleh’s statement. The first I will quote shortly. The second is his clear statement that removing the zeros will “strengthen the value of the currency of Iraq.” Of course the “lopster” will say that the LOP will raise the value of the dinar, since the dinar will rise to about $1 with the LOP. However, that would not “strengthen the value” of the dinar, would it? It would be “revenue neutral.” So how else can we understand this statement from Saleh? Fortunately the article tells us the answer, and this is the second point to note in his statement. It refers to a draft that was written 5 years ago made by agreement between the government (Ministry of Finance) and the Central Bank. Fortunately, I have retained the actual statement that came from that agreement when it was announced in the press. Here is the quote from June 30, 2006, now almost 6 years ago:
“A statement by B.J. AL Zubaidi, the Minister of Finance, in which he said that he had suggested to the Chairman of the Central Bank, Dr. Sinan AL Shibibi, that three zeros be taken from the Iraqi Dinar in order to raise its value so that one Dinar be equal to a Dollar. He explained that the financial authorities were set on holding a meeting next month to discuss the matter. The meeting is to be attended by experts and specialists from the Ministry of Finance, the Iraqi Central Bank and the Commercial Bank.” (http://edinarfinancial.net/news/?nn=320).
Here is another, dated February 6, 2010 and quoted in Radio Free Iraq, in which Saleh confirms that the plan is in place:
“Saleh said by the end of 2010 the new banknotes will be fully introduced while the old banknotes will be gradually removed from circulation. He did not specify when the new notes would be issued.
”Both will be legal tender in Iraq until the old notes are completely withdrawn.
”Iraqi officials have had a long-running plan to redenominate the Iraqi dinar. In 2006, the Finance Ministry recommended to the Central Bank that it carry out such a plan.”
Obviously due to the election and other problems with the formation of the GOI, this plan has been delayed beyond 2010. But the point is that the plan exists and includes a “raise” in the “value” of the dinar.
And finally here is one more quote from June of 2006:
“The Ministry of Finance together with the Central Bank are studying a proposal to raise the value of the Iraqi dinar in order to return it to previous levels where one Iraqi dinar was valued at 3.33 US dollars.”
Further elaboration on the plan that was being worked on was also given in the same article:
“A statement by B.J. AL Zubaidi, the Minister of Finance, in which he said that he had suggested to the Chairman of the Central Bank, Dr. Sinan Al Shabibi, that three zeros be taken from the Iraqi Dinar in order to raise its value so that one Dinar be equal to a Dollar.” (http://www.iraqdirectory.com/DisplayNews.aspx?id=1593)
All three of these articles refer to the draft that was written in early 2007, five years ago. However the last article is the most important, because it clearly states that the plan is to RAISE THE VALUE OF THE DINAR back to the “previous level” of $3.33 per dinar, with an interim level of $1. This is entirely consistent with the multitude of recent articles we have seen coming from the CBI recently that indicate that the value will initially be “about $1” and then “gradually” rise from there.
Now, it is impossible to talk about a “raise” in the “value” of the dinar and talk about a LOP in the same sentence. A LOP is revenue neutral, whereas a revaluation involves a “raise” in the “value” of the currency.
Therefore, the article that Kaperoni posted does NOT accurately portray the plans of the Central Bank of Iraq. Instead, it consists of the rant of an uninformed egomaniac included in an otherwise innocuous article in which ALL of the other participants know that the “value” of the dinar will “raise” with the removal of the three zeros project.
Enorrste
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Please post only the original news article link.
Sorry, it looks like DV doesn't want me to. I posted it in the original post, and now, it's gone.
Katie's right, though. Kap's no lopster. He just posts what he finds, and wants his people to have all available information. Sometimes, it's good for us, sometimes, not. He always qualifies everything by saying, "...if this is true." If this article is true, we're screwed. That's all he was really saying.
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respect your opinion, but I think Malarki stays mi amigo....we'll see in due time.
They could just be continuing their process while waiting for Maliki to formally implement. Fool me once and all that.
Keep the heat on him until those ministers are seated, guys. You're almost there.
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Sorry about that. I forgot to add the link. It's part of the thread where Kaperoni is discussing the possibility of a LOP. This was just a response from someone. Here's the link: http://dinaralert.webs.com/apps/forums/topics/show/7786283-conscious-deletion-of-zeros-from-the-currency-decision-is-preceded-by-the-fear-of-citizens-and-economists-warned-achievement-
That post was originally posted by Kap a couple months ago. Sam was re-posting it to remind Kap of his previous opinion on the lop while Kap was kind of panicky.
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Below are Kap's comments. Maybe he's just having a bad day, but I'd like some of you fine folks' thoughts on this. Apparently, it's recycled from April 2012 or possibly April 2011.
"This article is not good. It appears clearly in this article they are talking redenomination or LOP. I am not giving up hope, but this seems pretty compelling that Iraq may not be honoring the dinar at face value post redenomination. The best one can gain from this is 2X or 3X our investment if this is true."
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The reason the banks gave for selling dinar, was.to provide a service for those traveling to iraq. in fact my bank wouldnt sell it to me unless i showed an itinerary. im not seeing the catch 22.
Anybody else have the same story as Sandstorm? I know several folks who bought dinar from banks, back in the old days, with no questions asked. I only know of one bank in Birmingham still selling it, and they don't require anything but about a week to order it and have it delivered.
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What's the deal with the scare quotes around "Dr. Paul?" Is he not an actual medical doctor? I've had it with all the mocking. I'm not a diehard Paulite, I've never been to one of his speeches, and there are plenty of other people I would prefer as president (Dr. Thomas Sowell is the only person I've ever personally written to ask to run), but the Romney folks treat Paul people like crazy, idiot children who need to have their asses kicked into towing the GOP line, and I'm not having it. If they want to nominate the good-looking guy they think can win, that's their prerogative, but their guy is only marginally better than Obama, and that's just not good enough anymore.
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This is a new alliance and there is no excuse for ignorance when we know more than they do by reading their news papers. Yeah, I think once they hear the news they will vote. No confidence for the freak.
Didn't SLC say the questions to Maliki have to be asked by a sort-of disinterested third party? They must be setting themselves up to be that group. Surely, they're not really that dim.
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"...explained Tawfik told (Voices of Iraq) that "change is not a party in the current crisis, we are until the moment do not know the real reason for this crisis, and the reason for aggravation."
You haven't been paying very close attention, then, have ya, Tawfik? That's what happens when you take four-month vacations.
Sorry, I'm kinda new. Do these guys matter? This is the first I'm hearing of the Movement for Change.
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Every time you post an anti-Ron Paul thread, I want to vote for Mitt Romney just a little bit less.
It's like the Romneyphiles want to ridicule Paul voters into voting for Romney. That doesn't work with libertarians.
Gary Johnson 2012.
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Today's update...
What happened this weekend..... and What if ?
- What if.... Saturdays meeting was the National Convention - Talibani was there
- they said they had only had 160 seats - we know by math that they have allot more than they need for the vote of no confidence...... Kurds + Allawi + Sadr > 163 seats
- Biden flew into to Baghdad (same night for 2 hours) - was it just a visit - was it to get the results - since you can't get the correct info from the media - was met by high level government officials - Biden never left the airport - meeting was held in a special room in the Baghdad airport
- they have got quite,...... really quick after pummeling Maliki in the media about no confidence
- now Maliki will address the people to tell them ...what the real problems are......
--------- somethings brewing ? ....... Maybe even ..............moving forward.............
My take
8ball
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Good! Whatever. Just do something. I'm dying to see how this turns out.
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I know I'm not reading this right, but from that one article, I got that he has sent the no-confidence to Parliament, he hasn't sent it, and he's still thinking about it.
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Reality turns out to be more of a roller coaster than guru BS, it seems. Good thing they've been holding on to those files.
Maliki interrogation session will be delayed to the end of next month
in Iraq & Dinar Related News
Posted · Edited by ReVbo
Does "next" really mean "this" like it usually does?
Last I heard, they already have 25 questions and files prepared, so I can't imagine they would hold off until the end of July. Besides, that's another month for Maliki to bribe and threaten his opposition.