Scooter Chat - 5/26/2010 - Stardogger

[ronscarpa]

Scooter Chat 5/26/2010 - dont promote other sites

Scooter] Manager of Rafideen bank : Iraq is the only country in the world where Money is carried in bags Manager of biggest Iraqi bank Abdul Hussein Alyasiry said that Iraq is the only country in the world where financial liquids being exchanged by bags pointing that there is governmental will to eliminate zeros from the currency to overcome the huge liquids

[scooter] Alyasiry clarified that Alrafideen bank suffered a lot in the past starting with the economic sanctions on 1991 and then the lootings that happened on the year of 2003. And he adding saying Alrafideen bank suffered big losses but I stood there and worked on keeping this institution and by working with the Iraqi government now the bank became stronger than it was in the past and we turned the losses into profits where our profits in the year of 2006 reached 321 billion ID and 727 billion on the year of 2007 and we succeeded in withdrawing 70 percent of Iraqi liquids which worth 24 trillion ID out of 28 trillion ID and he added saying now we are supporting Iraqi economy through supporting industry and services , construction , loans for farmers and especially the housing projects where we gave the real estate bank 300 billion ID to help building housing units and also we support the ministries of foreign affairs , ministry of interior , ministry of trade and we gave loan to the ministry of electricity worth of 5 trillion ID and loan to the ministry of industry worth of 24 million us dollar to rehabilitate its companies.

[tim5400] Scooter because of the size of these planned improvements ..is that the reason for the rv too

[Floodson] Scooter, Iraq has some payments due, so they must RV, right ?

[scooter] tim5400 --- Yes sir!!!! --- the combination must occur --- otherwise you'll have a massive bubble like China is about to realize

[robo5288] Scooter When are they going to pull the plug on this thing?

[scooter] robo5288 ---- No idea ---

[scooter] Once the rate has been locked and loaded into system --- the decision to pull the trigger --- becomes political

[scooter] No one knows -- and if anybody says they do know -- besides magice -- they are absolutely wrong

[scooter] IMO

[tim5400] Scooter IF it happened tomorrow could Iraq handle the repercussions

[scooter] That's just my opinion

[mudman] Scooter when rv does occur do you think it will come in kind of low and float

[scooter] tim5400 --- Tim -- It could happen anytime --- The plan has been approved ---

[scooter] However

[scooter] Probably not until after the banking Allocations and restructuring is completed

[tim5400] Scooter r and r banks?

[robo5288] The heat has been turned up dramatically the last few days; unlike anything I have seen up to this point. Much is being said from all involved. Iraqi's know that the world is not happy with them at all. This bodes well for us.

[scooter] tim5400 -- I don't understand the R and R banks

[tim5400] Rasheed and Rafidian

[scooter] Are you referring to the two gov banks

[scooter] gotcha

[scooter] sorry

[tim5400] it was easier

[scooter] That transition occurs June 30th, 2010 -- very quickly

[scooter] combine that with the 70% draw down --

[scooter] the only other accelerator for rate

[scooter] becomes interest percentage

[scooter] Mudman --- That's a great question , particularly

[scooter] during these financial times

[scooter] Here's situation

[scooter] Every Middle eastern

[scooter] country

[scooter] peg's itself to the U

[scooter] usd

[scooter] However

[scooter] in 2006 --- there was a strong divergent with the USD

[scooter] Now

[scooter] What you'll start to see is a framework around a basket of currencies

[scooter] Today

[scooter] Was the first time I've heard the theory of three adjustments

[scooter] so

[scooter] the question becomes

[scooter] for me --

[scooter] will this be a single RV --- double -- or triple

[scooter] I need to do some more research

[scooter] If you noticed the GCC

[scooter] and their recent halt

[scooter] theres a reason for that

[scooter] The Euro scared the absolute crap out of them

[scooter] excuse my language

[scooter] Largely because

[scooter] they didn't have the safeguards for each countries debt

[scooter] Ghost Rider GE

[scooter] I'm just pontificating

[scooter] Good to see you my friend

[scooter] let me finish my thought

[scooter] mudman -- your question

[scooter] about Float or

[scooter] come in low

[scooter] This is going to be determined on

[scooter] those statistics I was just sharing

[scooter] the macro stats are calculated first -- then the micro --- then IMF consolidates

[scooter] then gives the keys to shabibi

[scooter] my guess

[scooter] it's going to be a basket of currencies that it floats against

[scooter] and a strong possiblity of multi -- tiered approach

[scooter] symetrically aligned with the

[scooter] fund allocations

[scooter] mudman -- What do you think

[crndog10] this weekend?

[scooter] and a strong possiblity of multi -- tiered approach

[scooter] symetrically aligned with the

[scooter] fund allocations

[scooter] mudman -- What do you think

[crndog10] this weekend?

[scooter] crndog10 --- I think a low percentage chance for this weekend my friend

[bribar1]

I wouldn't expect this weekend either. I am still saying it's gonna have to be a few months before this can happen. They have a lot of positioning to do.

[Bobbydee]

Sounds good Ron. Thanks for the post. God bless and Semper Fi