Monday Bytes: Kaperoni - The IMF Wants It Done Now !

[DinarThug]

CNN. Broadcasting While Riding An Unintentional Wheelie On My Camel Thru Downtown Baghdad ! I Must've Spooked Him When I Popped My Bubblegum !

4-16-2012 Newshound Guru Doc Our belief continues that we need to see resolution around chapter 7 and to a lessor extent Erbil before we see the RV. Unfortunately the meeting between Kuwait and Iraq to put the finishing touches on potential chapter 7 release was postponed until next week. On top of this the Maliki/Shabibi sage continues. It is interesting that the CBI law seems to suggest the CBI's independence while the supreme court ruled in favor of Maliki. We view this as politics as usual for Iraq. However all these delays are putting Shabibi between a rock and a hard place

4-16-2012 Newshound Guru Doc A recent article reported inflation at 8.3% y-o-y March 2012 with a monthly rate of 1.7% (>20 % annualized). Basically Shabibi has inflation running, the USD as the currency of choice (dinar getting weaker ever day) and Maliki apparently attempting to delay all plans of Shabibi. And we thought our job was tough. Shabibi has been trying to work with the GOI but at some point he may run out of time.

4-16-2012 Newshound Guru Doc We have confirmation that the LDs have not been distributed anywhere in Iraq. All the bank screen reports continue to be bogus. China did not RV (currency allowed to float in larger range) and Shabibi did not flee the country (he is in the US for meetings with the IMF). All is not done and with the delay in the Iraq/Kuwait meeting we do not see any immediate (at any minute) potential for the RV. We maintain that as soon as chapter 7 is done that Ebril will come fairly quickly. Until then we continue to wait somewhat patiently. We report, you decide.

4-16-2012 Newshound Guru 8Ball The last rate change in Iraq...was January 17th 2012, 1170 to 1166...3 months out places us at April 17th 2012...they have to make another change...Being that they are monitored under chapter 7...there are articles stating that they have to make adjustments to salaries of employees due to the budget not being able to cover. Budget being short can be a great reason for an RV. Shabibi being at the IMF conference seems to be...very well planned timing. May be more than a conference.

4-16-2012 Newshound Guru Med THINGS SEEM TO BE STRAIGHTENING OUT...I WILL BE HONEST IF I HAD NOT SEEN A CHANGE AND THE COUNCIL BEEN TOLD TO MIND THEIR OWN BUSINESS I WAS CLOSING SHOP HERE. I WAS NOT GOING TO SELL MY DINAR BUT WE ALL COULDNT HANDLE THIS FOR ANOTHER 3 YRS. KEEP YOUR CHIN UP. THIS IS MOVING IN THE RIGHT PLACE AGAIN.

4-16-2012 Newshound Guru Ennorste Shabibi has the authority to change the value of the currency whenever he feels it is time to do so. The Cabinet did not "HAVE" to give him that authority. He already has it. Neither can their resolution STOP him from acting. This is bluster, and Najafi rightly pointed this out by quoting the Constitution. The GOI is powerless over actions of the CBI. Parliament backs the CBI 100%. The IMF has also backed the CBI, specifically on the "remove the three zeros" project (RV). Nothing from the GOI can stop this.

[the "Stand By Agreement" (SBA) is between the Iraq Government, the Central bank of Iraq and the IMF.]

4-16-2012 Newshound Guru Kaperoni [Question - What are your thoughts on the SBA coming up for review in Late July...any weight to this?] Its nonsense because there are two articles from the IMF, one in Sept, and the other in Feb 2012 that states..."the IMF is in full support of Central Bank raising the 3 zeros from the iraqi dinar." Therefore those statements clearly show they want it done now and take presidence over the SBA.

[Tripphood]

After all the neg news and downers, it is the best time to read the Guru's.

[Texas1]

Better to pop bubblegum than cherries when riding a camel......

[RRSport]

After all the neg news and downers, it is the best time to read the Guru's.

As long as you understand its always just for comic relief.

[umbertino]

As long as you understand its always just for comic relief.

Tragicomic actually.....

[Mack0121]

Better to pop bubblegum than cherries when riding a camel......

That's just so wrong. Funny...but wrong