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CNN. Broadcasting Tidbits Off The Bottom Of The Bird Cage From Fecal1 ! 9-29-2013 Intel Guru Eagle1 It's been awhile since I posted one of these updates, but I'm pleased to say that this one should be the last, pre-GCR [Global Currency Reset]! As you all will have heard by now...the IMF took control of the GCR on September 5th. We've had many alerts since that date thinking that things were finished. In fact, there have been a series of events which had to take place prior to the Global Currency Reset being released to the world. 9-29-2013 Intel Guru Eagle1 Tuesday looks like our payday! I have multiple contacts within banks who are saying that with the release of the GCR on Tuesday, they will be ready to do their exchanges on Wednesday. Does that mean we have to wait until Wednesday to do our exchanges? That remains to be seen. It is my understanding, however, that where prior arrangements have already been made, people will be able to do their exchanges on Tuesday. It really looks like we're there. 9-30-2013 Newshound Guru Kaperoni Article: “Iraq Iraq's reserves of foreign exchange and what it means for the life of the citizen” IMO, Kahlil is simply stating that the dinar will rise to at least 1 to $1 as oil exports over the next 4 years are going to be 6-8 mbpd. I don’t think he is saying its going to take that long, just that the rise in inevitable. 9-29-2013 Newshound Guru Stryker CAN YOU SAY POWER SHARING, I CAN!!!! Article Quote: Maliki said "The session government next will cancel a number of ministries and will switch its powers to local governments so those governments willingness to work under those variables." Power sharing is part of the Erbil Agreement and the Agreed upon 7 points by Maliki & Barzani in April. Another sign that things are coming together nicely.
CNN. Broadcasting The Annual 'Shaking Of The Iraqi Budget' To Try And Tell If There's An RV Prize Inside ! 9-16-2013 Newshound Guru Doc Before all the "RV rate in in the budget" rumors heat up lets put it to bed now. Here is a recent article quote "Committee member Rep. Nora Bijari said in a statement (morning) that the draft budget next year (2014) be found at the Ministry of Finance a budget large, as amounting to nearly 146 trillion dinars, and the ministry will send a copy of the budget to the Council of Ministers for the purpose of voting on them". 9-16-2013 Newshound Guru Doc Notice the amount of 146 trillion dinar. If it contained a RV rate of $1 the budget would be in the range of 150 billion dinar and if it contained a rate of $3 the budget would be around 50 billion dinar. Most likely the 2014 budget is being compiled with an assumed rate of ...1166, the current program rate. This is just further evidence that the most likely path forward for currency reform is a gradual rise via a float rather than an immediate step change to a high value like $3+. We report, you decide. 9-15-2013 Newshound Guru Doc Many rumors continue and time has proven all false. Obviously the "at any moment" crowd has been shown inaccurate. Other arguments which are incorrect are the value will "increase to that of Kuwait because if it is lower then Iraq will not be getting equal value for its oil" and hence it has to RV at $3+. This statement simply reflects a lack of understanding of global currency markets and can easily be seen as false when looking at Saudi. Saudi's currency is $0.27. Does this mean Saudi gets less for its oil then Kuwait? Of coarse not. The fact is oil is priced in USD and not the local currency. Each country receives USD and then converts to local currency. It is irrelevant the value of their local currency. 9-15-2013 Newshound Guru Doc We had our currency experts do an interesting exercise. They calculated today's value based on starting with the value during Sadam's reign and adjusting for increased money supply, inflation and current oil output. The results were in the range of 50 cents to $1. This is telling in that all mid term goals stated by the CBI, SIGR, etc. has not changed from the $1 target. Our opinion remains that the immediate $3+ opinions have no concrete foundation. The most likely scenario and one the CBI has indicated is a float which we believe will progress to the $1 range gien appropriate time including oil output increases. Unfortunately even this scenario is awaiting the GOI to do its part and pass the necessary supporting laws. We report, you decide. 9-15-2013 Newshound Guru Tlar Article: "Expectations of the adoption of the 2014 budget year early" It would not surprise me if they complete this budget in early October. If as we have been told that the budget is based on 1.16 dinars per dollar it would be to their advantage to complete it as soon as possible. IMO there appears to be a rush now to put the economic house in order including put the legality of the governorship of the CBI. 9-15-2013 Newshound Guru Kaperoni Article: "Expectations of the adoption of the 2014 budget year early" It can only happen if they do what they need to do first. And if that happens, we wont care about the budget.