Enoch8 chat on cbi's recent actions......

[jupitergirl]

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January 19, 2012 at 5:34 PM

[9:55:23 PM] Enoch8: Holy Kraperoni ! What is this, a book?

[9:56:32 PM] Enoch8: 1...... the Central bank did not raise the rate 3.4%

[9:56:51 PM] Proteus: hehehehe... I thought you'd like this...!

[9:57:09 PM] Enoch8: More like .034%

[9:57:47 PM] Chuckles: yeah!

[9:57:50 PM] Chuckles: its.34

[9:57:59 PM] Chuckles: even the iraqis are off

[9:58:10 PM] Enoch8: 1170 to 1166 is not even close to 3.4% much less 34%

[10:00:13 PM] Proteus: ok.. guys i have to run... wifey needs my help

[10:00:20 PM] Proteus: see ya'll tomorrow

[10:03:12 PM] Enoch8: OK..... I did see he corrected his mistake.....

[10:03:16 PM] Enoch8: My Bad

[10:03:47 PM] Enoch8: Actually I like the logic he is using on this one.

[10:04:06 PM] Enoch8: Here is something more important, IMO

[10:04:50 PM] Enoch8: The very fact that CBI has actually changed the Nominal Program Rate..... is the first time since Jan 2009.

[10:06:02 PM] Enoch8: As I pointed out.... he held that for 3 full years, which effectively proved CBI could hold a stable rate for a 3 year requirement with IMF rules regarding Exchange Rate Regimes and Mechanisms.....

[10:06:06 PM] Enoch8: Here is why

[10:06:41 PM] Enoch8: Hold off please

[10:07:24 PM] Enoch8: If a nation wants to restructure their currency they are required to submit to the IMF an Exchange Rate Policy.

[10:08:13 PM] Enoch8: If they prove that stability for 3 years, then they can set the Rates in accordance with IMF rules on Exchange Rate Regimes, to show a 2 year projection.

[10:08:41 PM] Enoch8: Iraq is shown currently to be the fastest growing economy on the planet, at about 12%

[10:09:16 PM] Enoch8: That 2 year projection, means the regime can set out 2 year projections on the value of the entire monetary base.

[10:09:21 PM] Enoch8: That is huge.

[10:09:58 PM] Enoch8: It is like being able to also make projections of (24% in this case)....

[10:10:44 PM] Enoch8: but to be allowed the lea way to show future development of some other very interesting projections, in the Gov Bonds and Securities Markets.

[10:11:10 PM] Enoch8: This is ecceptable and is standard to Bank of INternational Settlements.

[10:11:42 PM] Enoch8: That means that tiny little shift..... means Shabs has pulled it off and is ready.

[10:11:52 PM] Enoch8: See?

[10:11:55 PM] Enoch8: Done.

[10:12:02 PM] Enoch8: Please go ahead Holy.

[10:12:06 PM] Enoch8: Thank you

[10:12:43 PM] holydinars: np ty too when i saw that rate change in my mind i felt it was a test of some sort thats all i was going to write.

[10:13:00 PM] Enoch8: agree

[10:13:21 PM] Enoch8: It means he is finished with that 3 year hard peg

[10:14:49 PM] holydinars: i think were going to start to see some changes soon imo

[10:15:03 PM] Enoch8: Yes!!!

[10:15:14 PM] holydinars: i would say thats a benchmark that has been met!

[10:15:16 PM] Enoch8: Even a repeat of 2008 maybe?

[10:16:04 PM] holydinars: maybe we will see a couple of them repeats before the real hit

[10:16:16 PM] Enoch8: Many of us thought they were doing it then..... because it was the firt time in 3 years at that point CBI came off the $.000665 Hard Peg at that time.

[10:16:24 PM] Enoch8: Yes

[10:17:29 PM] Enoch8: Only this time..... they actually have the CBI Plan submitted, that the CBI Board of Governors, MOP and MOF were charged to create as a GOI Economics Reform Committee, in 2005

[10:17:55 PM] Enoch8: It too nearly 6 years to submit that to the Counsel and they approved it in May

[10:18:08 PM] Enoch8: Unlike 2008

[10:18:26 PM] Enoch8: That is the difference today/

[10:18:55 PM] Enoch8: This might go on allyear and is exactly what I personally have been watching for.

[kjwayne]

Thank you junipergirl, I like all the input from all people.

[Dinar Buddy]

So if the Guru's new they had to wait three before a rate change could be announced then why were they saying this was going to happen every hour?? I feels a little uncomfortable to us Now the CBI has two additional years to complete additional phases. They have not tried t trick us or mislead us. It is going to to take two more years to get to a value that was once traded...

Let's go RV

[steveflex7]

I really like Enoch, and I hold him to a higher standard than other gurus. He does his homework and if he believes we are close to an RV, then I believe we are also. Thanks jupitergirl .

[cgbrown]

We've been close every month since I joined this site. So who keeps moving the ball away from the goal line.

[steveflex7]

We've been close every month since I joined this site. So who keeps moving the ball away from the goal line.

I agree with you, but this slight rate range means something much bigger than we are seeing. IMO the windfall is coming, just hang in there.

[Bat of Darkness]

Somehow Enoch8's posts are kinda hard to find...but I'll be paying a lot more attention. Thanks Jupitergirl!

What's up with the + - buttons?

[only 1-25k dinar]

well maybe the 2013 date is not so far fetched after all....hmmm

[storm1]

enoch is not a "guru"

enoch is an extremly smart and diligent individual who does alot of reading and studying

i would not put him in the same class as "guru"

i have listened to enoch for many years, he alawys makes good sence

[tim5400]

if hes right this could be the hugest move the CBI has made in our favor yet....we wait and see if this pans out .. ...GO Shabs ..go RV...

[Carrello]

enoch is not a "guru"

enoch is an extremly smart and diligent individual who does alot of reading and studying

i would not put him in the same class as "guru"

i have listened to enoch for many years, he alawys makes good sence

I agree with you. Okie is a guru. Enoch is scary smart.

[FarmersDaughter]

Was the requirement for Iraq to maintain a stable rate for three years a fact? Did that come straight from the IMF or is that Enoch's opinion? Cause....that would have been really good to know during the waiting. I am really going to be mad at myself for not knowing that. LOL

I am going to the IMF site and check it out. I just thought someone might already have the answer.

Thanks!

Great Article. Thanks for bringing it to us.

Edited January 21, 2012 by FarmersDaughter

[Shick]

GOOD OBSERVATION. GO RV GO!

[Butifldrm]

Enoch8 = Financial Wizard

[Realdinar]

Enoch8 is so brilliant, my whole body shivers.

[frankc]

If this stable rate for 3yrs is fact I think all of us wonder why it never entered past conversations. Have to wonder why it is just now coming to light.

I would have thought with all Scooter's research he would have told us about it yrs ago????

Hopefully they are now in the clear to deliver the RV we all hope for and not some chinese water torture of a few pips a year. LOL

GO RV!!!!

[darwinatridge]

--

January 19, 2012 at 5:34 PM

[9:55:23 PM] Enoch8: Holy Kraperoni ! What is this, a book?

[9:56:32 PM] Enoch8: 1...... the Central bank did not raise the rate 3.4%

[9:56:51 PM] Proteus: hehehehe... I thought you'd like this...!

[9:57:09 PM] Enoch8: More like .034%

1170 x .0034 = 3.978 or simply 4.0

1170 - 4 = 1166

Boy, what movement!

[keepmwlknfny]

If this stable rate for 3yrs is fact I think all of us wonder why it never entered past conversations. Have to wonder why it is just now coming to light.

I would have thought with all Scooter's research he would have told us about it yrs ago????

Hopefully they are now in the clear to deliver the RV we all hope for and not some chinese water torture of a few pips a year. LOL

GO RV!!!!

Its actually been brought up many times before.....all those links to the documents talking about different rates they implement for different areas....the whole 1.13 or so rate from the "feasible studies" I think it was....its stated on there that this rate to be used and good for 3 years....

That sounds like its what enoch is talkin about anyways.....maybe Im confused lol....

[Zekiel]

This looks to me like some stuff you could actually locate at the IMF website archives, under Article IV consultations, maybe Article XIV agreements, and possibly, areas concerning exchange rate regimes and methodologies. Seems like I recall Enoch has posted such links, many times.... and I notice there are always sufficient leads to do your own due diligence.

kmwf....... that said, your observation is spot on.

[Darin]

Makes perfect sense to me...

CBI works with the IMF to "prove" they can hold a stable rate w/o any problems at a program rate.

Is this maybe a requirement to move from Article 14 to 8? Maybe, who knows, I guess that would involve some reading and researching.

3 years sure seems to line up with how they basically had a 3 year pegged rate.

Now that they've proven they can hold inflation low, and a stable rate, I think we may see some things happening.

No idea what, but hopefully we soon find out.

[Bat of Darkness]

Part of the basic reasons for my involvement in this little game, is that Sinan Al-Shabibi, being head of Iraq's Central Bank, is an old UN hand from back in the seventies. Having an illustrious career as an economist in one of the (dubiously) most forward-thinking organizations ever to appear on the planet...I've always known that Shabibi would deliver a flawless performance in bringing Iraq back to the UN fold in every way known to him. He has avoided attempts on his own life, as well as that of his bank...and continues the UN position. Granted...the UN is not perfect...but in the context of assisting emerging nations, they have provided tremendous assistance to Iraq.

[Darin]

Part of the basic reasons for my involvement in this little game, is that Sinan Al-Shabibi, being head of Iraq's Central Bank, is an old UN hand from back in the seventies. Having an illustrious career as an economist in one of the (dubiously) most forward-thinking organizations ever to appear on the planet...I've always known that Shabibi would deliver a flawless performance in bringing Iraq back to the UN fold in every way known to him. He has avoided attempts on his own life, as well as that of his bank...and continues the UN position. Granted...the UN is not perfect...but in the context of assisting emerging nations, they have provided tremendous assistance to Iraq.

Prior to the 2004 invasion, they had an interview with Shabibi regarding their economy. I believe that was posted here (DV) at one point in time & is where I remember reading it.

The details as I try & recall are rather blurry, but to summarize it at best from what I remember, Shabs basically stated the economy was in rough shape with high inflation. Their infrastructure was in dire needs of improvement and a lot of work was likely needed to rebuild.

Without referencing or looking into the details, but IIRC, didn't Shabbs not take the lead role at the CBI until around 2006-ish?

That interview made me assume he was the lead role at the CBI the entire time. Interesting how it appears he stepped in to make many improvements.