Scooter Chat - 24 May 2010

[ronscarpa]

Scooter Chat - 05/24/2010

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20:34:56 [scooter] OK

20:35:21 [scooter] I don't know if any of you know this but there's been huge strides made with this

20:35:27 [scooter] project for the past 6 years

20:35:37 [scooter] but more importantly

20:35:50 [scooter] folks seem to be upset about the delays

20:36:03 [scooter] in the election ----- Here's a news flash ----

20:36:17 [scooter] It's true -- we should be concerned for Iraq

20:36:33 [scooter] However, this was all calculated early on in every plan made

20:36:17 [scooter] It's true -- we should be concerned for Iraq

20:36:33 [scooter] However, this was all calculated early on in every plan made

20:36:43 [scooter] for example ---

20:36:54 [scooter] 9. In addition to providing a timely response to Iraq’s financing needs, the proposed schedule of the operation reflects the country’s current political economy. This operation would provide the Bank an opportunity to launch a well-conceptualized dialogue with the new Government and support the continuation of policy reforms. To that end, it is vital to build on the commitment of the current Government, and to agree on a fiscal and structural reform program so that policy moves along desirable tracks in the period following the elections. Commitments made to international financing institutions will help lock in the appropriate reform measures. To ensure the commitment on the part of the Iraqi authorities, parliamentary approval of the 2010 Budget was essential to confirm the IMF and Bank assessment of Iraq's fiscal program and to proceed with the proposed budget support.

20:38:05 [scooter] Those statements are throughout every single plan out there

20:38:36 [scooter] They anticipated this happening ----- Even the latest UNSC report after the election has it down in black

20:38:39 [scooter] and white

20:38:56 [scooter] indicating the plan moves forward regardless

20:39:06 [scooter] The thing I really like about this plan

20:39:17 [scooter] is that its for the Iraqi people

20:39:27 [scooter] and not the politicians

20:39:54 [scooter] Let give you an example -- Here's a snip-it from the UNSC recent meeting in May -- I think the 10th

20:40:31 [scooter] The gradual shift to longer-term development continues, as reflected in the United Nations Development Assistance Framework and the Iraq Humanitarian Action Plan for 2010, to support sustainable recovery and development for vulnerable communities. The United Nations Development Assistance Framework document, signed on 11 May, demonstrates strong solidarity of the international community and the Government of Iraq in ensuring that the development priorities articulated in the document reflect a shared vision for human and economic development. I am confident that this people-centred agenda will be acceptable to the new government, and will serve to guide the international community, the United Nations and the Government during the implementation process. In the spirit of the Millennium Development Goals and the Paris Declaration, I believe that the United Nations Development Assistance Framework, in harmony with the National Development Plan, will form an important platform for supporting Iraq’s new vision for the future.

20:41:40 [scooter] Now that's nice ---

20:41:56 [scooter] not for the politicians -- the world knows they have got to get this country

20:42:11 [scooter] moving again ---- remember

20:42:21 [scooter] over 24 countries are heavilly invested in this program

20:42:57 [scooter] so the risk are high -- but we have alot more momentum than anything else that can be

20:42:57 [scooter] thrown at us.

20:43:16 [scooter] Here's a better from the UNSC --- Nails it to

20:43:38 [scooter] 70. The UNDG Iraq Trust Fund window of the International Reconstruction Fund Facility for Iraq will be entering its final months for allocation of funds. Discussions are continuing regarding a new funding mechanism, as well as the Government’s initiative to develop the necessary framework for the establishment of a co-financing mechanism. I look forward to positive developments regarding both these resourc

20:43:53 [scooter] coordination modalities. I would also like to stress that, in order to support the development priorities identified in the United Nations Development Assistance Framework and continuing humanitarian response programmes, the United Nations country team will inevitably require more resources from Member States.

20:44:53 [scooter] What we dont see is that they already had 54 capacity building meetings ---- What the bank did with the UN is they underpinned the workers so the politicians are locked into the plan --

20:45:41 [scooter] secondly -- they did this right --- They committed to the finances before the election ever occurred -- further locking the new government into this plan

20:46:11 [scooter] Those are just a couple of comments ---- I know the situation looks bleak --- but not really ------

20:46:27 [scooter] compare this to other countries that are RVing right now

20:46:51 [scooter] They don't have this international support occurring ---- We'll get through this --- just be patient

20:46:57 [scooter] Now to the good news that just

20:47:00 [scooter] came out

20:47:28 [scooter] Anybody remember this one

20:47:38 [scooter] Remember -- watch the MoF --

20:47:41 [scooter] Ministry of Finance

20:47:54 [scooter] and Ministry of P*****ng

20:48:09 [scooter] MONDAY, MAY 24, 2010 *** Minister of Finance: raise zeros from the Iraqi currency against the dollar will be supported by February 11th, 2010 article ... for reassurance ... notice link no longer works ...This was the article that was hard to find initially. "Noting that the Iraqi dinar would be offset dollar or slightly more than after the application of this proposal" Minister of Finance: raise zeros from the Iraqi currency against the dollar will be supported by Conscious / Baghdad / Goofy. Elmer 11/2/2010 Finance Minister Bayan Jabr said the lifting of the zeroes of the Iraqi currency will support the currency against the dollar. Zubaidi, in remarks quoted by reporter (news agency, Iraqi Information / conscious) that this proposal by the Ministry of Finance to the Central Bank of Iraq was not affected increase or decrease but it is just delete the zeros vocation not only the case in many countries

20:48:25 [scooter] This article cracks me up

20:48:51 [scooter] This is why --

20:48:59 [scooter] two or three days ago

20:49:02 [scooter] what happend

20:49:31 [scooter] they went announced they were bringing home 70% of the liquidated M1

20:49:31 [scooter] liquid

20:49:33 [scooter] sorry

20:49:55 [scooter] Now they are feeding the media again with currency articles -----

20:50:12 [scooter] The pattern is the same regardless of country

20:50:38 [scooter] Here's another one that makes tooo --- because it's old

0:51:00 [scooter] SUNDAY, MAY 23, 2010 Iraqi Central Bank Monetary Policy - On the Verge of a New Policy remember this? July 2009 "Adviser said that the Iraqi Central Bank monetary policy in the country on the verge of a new developments are in favor of the national economy after the withdrawal of foreign military from Iraqi cities" July 2, 2009 Iraqi Central Bank monetary policy in the country on the verge of a new developments BAGHDAD (Iba) July 2, 2009/ Central Bank / developments / .. Adviser said that the Iraqi Central Bank monetary policy in the country on the verge of a new developments are in favor of the national economy after the withdrawal of foreign military from Iraqi cities. The appearance of Mohammed Saleh told the independent press (Iba) said Thursday that the official announcement of the withdrawal is a recognition of the improved security, a fact which serves the starting point of monetary policy and contribute to the enhancement of the value of the dinar against the dollar and reflected positively on the whole economic process.

20:51:56 [scooter] The reason the efffort has been put into play with the power utilities, education,

20:52:25 [scooter] and other items --- is that they need to the capacity and workforce to sustain the rate they give them

20:52:56 [scooter] Also remember ---- they are pulling 70 % of their money supply out of the system and applying for use with

20:53:18 [scooter] the two government banks in the form of credit for the tens

20:53:37 [scooter] of thousands of new homes

20:54:02 [scooter] The point is --- when banks do this ---- money becomes more valuable and stronger naturally!

20:54:33 [scooter] Here's the last one that I thought was interesting -- outside investment funds

20:54:52 [scooter] SUNDAY, MAY 23, 2010 Investment fund offers chance to help rebuild Iraq May 24, 2010 Investment fund offers chance to help rebuild Iraq British investors will be given their first opportunity to invest in the reconstruction of Iraq this week with the launch of two new funds aimed at financing the country’s development. MerchantBridge, a boutique investment house, is sending prospectuses for The Mesopotamia Fund to City institutions this week. It is hoping to raise $50 million (£34.5 million). The fund will be listed on the Iraq Stock Exchange and will invest in other listed companies. Basil al-Rahim, the chief executive of MerchantBridge, said that Iraq was on the cusp of an economic breakthrough and that the Mesopotamia Fund initially would invest in financial services and hotels. The market capitalisation of the exchange, which reopened after the war in 2004, has doubled to $3.3 billion in the past five years. It has more than 100 companies listed, most of which are small banks, but the Iraqi Government is p*****ng a series of privatisations, including the telecoms sector, next year. Hotels make up another large percentage of the Iraqi market.

20:56:16 [scooter] Please don't get caught up in the emotional hour by hour update --- live your life today -- let the market come to you --- this investment has too much velocity behind it right now not to occur ---- in fact I don't listent

20:56:26 [scooter] to the news to much any more -----

20:56:41 [scooter] The most sophisiticated spin misters in the

20:57:07 [scooter] world know how draw the highest emotion out of people ---- Lets not let that happen to us !!!!

20:57:07 [scooter] I'm not --

20:57:17 [scooter] Scooter Diatribe Over

20:57:27 [scooter] Unmod room please

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[retirementafterrv]

Thanks for the post I apprecaite it.