My Analysis

[SWFloridaGuru]

5-11-2012 SWFloridaGuy: According to reports, Iraq's economy is improving at an exponential rate. According to the SIGR's (special inspector general for Iraq reconstruction) quarterly report sent to the US Congress, the IMF and the CBI both project GDP to grow by 12% in 2012. Crude oil reached its highest production in decades and foreign commercial activity jumped 40%. The CoR (Council of Representatives) who among other things pass federal laws, ratify treaties, and approve nominations of specified officials, recently approved the largest budget in the country's history. Here's the problem, as Shabibi just stated a few days ago: a resolution to the current political crisis is imperative to economic growth, the implementation of removal of the zeros project and the raising of the IQD's exhange rate. This is further illustrated by this SIGR report that states Iraq's currency reform project, the goal of which is to remove the zeros from the nominal value and raise the exchange rate of the IQD to a level close or equal to the USD, has been postponed due to political tensions. However, they know the political crisis is fast approaching a resolution and we are witnessing a pattern of preparatory steps being implemented. There has been an urgency for the adoption of the advancement and modernization of the Iraqi economy, banking sector and infrastructure. Iraq is making strides to improve their communications by participating in a regional fiber-optic cable project that would link Middle East countries with Europe in a high-speed international telecommunications network. The Director of the Private Banks announced a partnership between Iraqi banks and the International banks who have been directly involved in an ongoing transfer of global banking technologies to Iraq. Now back to the current political situation, Maliki is fighting for a National Meeting to save him from a no-confidence vote. We're not sure yet which direction this will go. If they believe they have the necessary 163 votes to unseat him, they'll move ahead with the no-confidence. If not, then they may prefer to reach an agreement with Maliki after he meets their terms and we'll see a National Meeting as early as next week. One way or another it will be resolved and, upon reaching that stage, the CBI will proceed with the restructuring of their currency and the revaluation we've all been anxiously anticipating. You can find some of what I have addressed referenced in this report: http://www.sigir.mil/publications/quarterlyreports/April2012.html

[TexasGranny]

I glanced through this report and found this on page 84

"In April 2012, the CoM postponed indefinitely

plans for a currency reform that would have removed three zeros from the Iraqi dinar in 2013 and

required the issuance of new currency notes. The

reform would have made the dinar’s value slightly

less than $1. It is currently worth less than onetenth of a cent.

376"

Everything in this report is extremely interesting and much more informative that all of the news releases to date.

[Tennesseegirl]

Wow!!!

[Biker]

Good find NEWBE, Finealy a newbe with a great post. Kodos to you.

[Laid Back]

"The reform would have made the dinar’s value slightly less than $1. It is currently worth less than onetenth of a cent"

0.00086 = 0.86 I hope this is the reform

Go RV

[aliciadogz]

No B.S,Great Post!!

[pontiyak]

nice find Newbie

The best things in life RV

yak

[easyrider]

I glanced through this report and found this on page 84

"In April 2012, the CoM postponed indefinitely

plans for a currency reform that would have removed three zeros from the Iraqi dinar in 2013 and

required the issuance of new currency notes. The

reform would have made the dinar’s value slightly

less than $1. It is currently worth less than onetenth of a cent.

376"

Everything in this report is extremely interesting and much more informative that all of the news releases to date.

Wow great post and great find granny ill bet it will be more now that they have postponed it.

[skitealwedrop]

I like to read the posts from SWFloridaGuy. They are interesting and far more grounded than the smack that is posted from other Gurus. Thanks for the read New Member. I agree with you TG. Good work Granny.

Edited May 11, 2012 by skitealwedrop

[Mack0121]

Wow great post and great find granny ill bet it will be more now that they have postponed it.

We can certainly hope.

Thanks for the post, SWFlorida...

See? Smart people come from my neck of the woods

[capt.cliff]

That is a great post--but if and when they RV it [iMO] must be at a higher rate than equal to the dollar---even if they make it illegal to use the dollar in day to day transactions , they still must overcome the problem of the BLACK MARKET--the only way to do that is appeal to everyone's greed -this is one of the reasons that there are no efforts to curtail the use of the dollar---when the RV happens---the poeple will have to turn to the banks to get back a good chunk of the wealth stolen from them by the former SH government by turning in dollars for dinars--it will also put the streeet business ,money changers out of business and eliminate a lot of the inflation factor!

JUst my opinion but as a reply to these postsI think it will not be moved

[Artitech]

I glanced through this report and found this on page 84

"In April 2012, the CoM postponed indefinitely

plans for a currency reform that would have removed three zeros from the Iraqi dinar in 2013 and

required the issuance of new currency notes. The

reform would have made the dinar’s value slightly

less than $1. It is currently worth less than onetenth of a cent.

376"

Everything in this report is extremely interesting and much more informative that all of the news releases to date.

what does this mean?

[rsskelton]

Hey, nice post. SWFloridaGuru, you might be new on this board but I realise you've been around a long time, as even though DV has always ( well, except for a short sabatical ) been my main dinar base, I do visit other forums and always read your stuff when I see it posted as you are one of the few not calling rates and dates, and always seem to have some verifiable facts and links to back up your opinions. I for one appreciate that, as I am sure so do many other of my friends here. This was a great post and I thank you for bringing it here. I hope you will continue posting on this board , that way I won't have to search for your stuff. Thanks again and +1 to ya!

RSS

Also, TG, good catch on your part as well!

[Tubbs]

Hey, nice post. SWFloridaGuru, you might be new on this board but I realise you've been around a long time, as even though DV has always ( well, except for a short sabatical ) been my main dinar base, I do visit other forums and always read your stuff when I see it posted as you are one of the few not calling rates and dates, and always seem to have some verifiable facts and links to back up your opinions. I for one appreciate that, as I am sure so do many other of my friends here. This was a great post and I thank you for bringing it here. I hope you will continue posting on this board , that way I won't have to search for your stuff. Thanks again and +1 to ya!

RSS

I second this post

Hope to meet both of you and share a drink - soon

Go RV B)

[yota691]

That is a great post--but if and when they RV it [iMO] must be at a higher rate than equal to the dollar---even if they make it illegal to use the dollar in day to day transactions , they still must overcome the problem of the BLACK MARKET--the only way to do that is appeal to everyone's greed -this is one of the reasons that there are no efforts to curtail the use of the dollar---when the RV happens---the poeple will have to turn to the banks to get back a good chunk of the wealth stolen from them by the former SH government by turning in dollars for dinars--it will also put the streeet business ,money changers out of business and eliminate a lot of the inflation factor!

JUst my opinion but as a reply to these postsI think it will not be moved

Maybe a multiplier

[vomer]

Let's doooo dah do.

[sillyseaserpent]

Great post.

Hopefully all the delaying tactics are over and we see some real progress!

Go RV!

[KamelKeeper]

I think it is important to know that this SIGIR document is an American document, and is a progress report that is submitted to the US Congress on a quarterly basis, and I think including the rate in the report is significant.

Thanks SW Florida. I really enjoy your posts, as I know many are. They think you are down to earth, logical, and do not have an agenda. Touche'.

[TBB]

NICE

[tandy]

I like the info...maybe someday soon we will have something to really smile about

[R2d2dc]

Great post! I have liked your information and opinions for quite some time as well! Very happy to see you here!!

r2