No RV this year info below proves it, sorry!!

[zantac]

Sorry to post such bad news but I feel this post will sum up the possibility of NO RV in 2010.

Go about your daily business, forget the rumours they will only break your heart.

I have highlighted in red the information that should spell it out clear as day that the RV will not be in 2010, OK it doesn’t say that but read it, then tell me any GURU that can twist this into good news

link

http://online.wsj.com/article/SB10001424052702304173704575577870508351504.html?mod=googlenews_wsj

ISTANBUL—The Central Bank of Iraq has instructed private banks to raise at least $7 billion in fresh capital over the next three years to be able to handle an expected oil-fueled construction boom, a top bank official said Wednesday.

New rules by the Central Bank would force Iraqi private banks to raise their capital to at least 250 billion Iraqi dinars ($214 million) each by 2013, Ahmed Ibraihi, Vice Governor of the Central Bank of Iraq, said in an exclusive interview. These banks, numbering 32, now have a minimum capital requirement of 50 billion dinars each.

"We are taking these measures in order that companies which are implementing big projects in Iraq, including the oil contracts would start to deal with our banks," Mr. Ibraihi said on the sidelines of an Iraqi petroleum meeting in Istanbul.

Iraq has clinched some 11 multibillion deals over the last 11 months with international oil companies to raise its crude-oil production capacity to 12 million barrels a day from the current 2.4 million barrels a day.

Mr. Ibraihi was in Istanbul to reassure the more than 20 international oil and gas companies who won these mega projects that they can deal with local banks to help them implement their projects in Iraq.

"I will tell them in my presentation that they shouldn't worry. They should open accounts and letters of credit in these banks," he said.

Years of sanctions and wars have isolated Iraqi banks from the rest of the world, and they now lag behind developed and efficient banking systems.

However, Mr. Ibraihi said that the Central Bank is enforcing new measures that would enable these private banks to consolidate.

"If they cannot afford to raise their capitals to the level we want them to, they can merge together and make few successful and potential banks," he added. Capital could come from regional banks, in particular from Gulf States, as well as from some international banks.

Banks such as the HSBC Holdings PLC, Qatar's Ahli Bank, and Kuwait National Bank maintain large portions of stakes at Iraq's private banks.

International companies investing in Iraq are currently dealing mostly with a post-war-opened Trade Bank of Iraq, set up by the U.S. authorities in July 2003 to finance trade and reconstruction projects. The state-run bank's assets are expected to grow this year to $13 billion from around $10 billion a year earlier.

Iraq's two traditional state-run banks, Rafaidan and Rasheed, cannot handle LCs and money transfer for customers abroad due to foreign debts that they need to meet first, Mr. Ibraihi said. Each of the two banks is popular inside Iraq and each maintains capital of at least $9 billion.

Once again I am sorry to bring bad news but at least I have posted something that is honest & more worthy than stupid rumours we constantly get of the next RV weekend

[MattDinar]

SOUNDS LIKE A BUNCH OF MALARKI TO ME... I REFUSE TO BELIEVE IT!! GO RV!!!!!2010

[zantac]

True to form the DV wishers, posted less than 2 minutes & already negative hits to the full.

Let’s face it you all hate the truth but love to believe in a good old daft rumour.

This road will be much harder for you unless you face the facts

[fatbob]

Zantac,

That does not prove anything.

Edited October 28, 2010 by fatbob

[know_moral_eyes]

I gave you a (+) for the research time you put into it, but..........

I'm not bashing, but I'm not catching where that outlines that the revalue of their currency can't happen in the next two months. I basically read that their country is war torn, the banking systems in private banks are not up to the latest technology, and two state banks have debts CURRENTLY, and can't handle LCs and money transfers.

Maybe I'm not reading far enough between the lines?

Know Moral Eyes

Edited October 28, 2010 by know_moral_eyes

[RobertDinar_o]

[pleasantvalleySunday]

Seems like we've seen these same words, perhaps not in exactly the same order - before ty zantac for sharing

True to form the DV wishers, posted less than 2 minutes & already negative hits to the full.

Let’s face it you all hate the truth but love to believe in a good old daft rumour.

This road will be much harder for you unless you face the facts

sure wish those red and green buttons could just go away cause I'm sure there is always "mental dialogue" when someone gives a neg and I'm pretty sure it's not reality they're being neg about lol

[Telabiz]

Funds appropriation , Means one thing Ask for it now , Get it later . like US everything is going down the toilet , RV is a big day for both departments . Can't put any real figures down until Fruition . Just another sign for much needed RV. No Worries RV 2010

[going bonkers]

I would say that their inefficient systems would not hamper an RV in 2010 either......the two main banks do not have to do much in terms of the RV...if they do plz explain, but be prepared to have it shot down, these should be common sense responses.......The CBI would have more work as would the governement in changing payroll and retirement payments but if you are a bank and you have 100,000 customers with a combined 2 billion dinar, guess what, after the RV you still have 100,000 customers with a combined 2 billion dinar......the customers would have a lot more purchasing power though, industry would have to re-evaluate costs and change pricing and on down the line, but it doesn't affect the bank whatsoever....Citizens may be forced to open bank accounts but there systems can handle that....JMHO

GO RV 2010

GO SKINS 2010-11

[keylime]

Wouldn't the RV give the banks the capital to pay off their debts?

[tbush]

What about all the articles from the CBI and MOF refering to redenominating the IQD after the formation of the GOI????? Ever think that maybe this is another ploy to keep speculative buyers out of purchasing IQD or already investors in IQD to get frustrated and sell back their IQD. Just a thought...

[going bonkers]

Hey Zantac, somebody stole your password and is posting dog doo doo using your handle....

Edited October 28, 2010 by going bonkers

[buckwheat]

True to form the DV wishers, posted less than 2 minutes & already negative hits to the full.

Let’s face it you all hate the truth but love to believe in a good old daft rumour.

This road will be much harder for you unless you face the facts

Wow, You want some cheese with that whine

[DCupp]

I totally agree that it WILL NOT happen this year.... I dont think its going to happen for a couple more years. Maybe in 2012 just before Obama is due to run for his second term. "Oh its a ploy, smoke and mirrors," Maybe it is what it is. Lets face it, Iraq has gone this long at this rate whats a few ,more years? I do believe that it will happen , just not for awhile.

Edited October 28, 2010 by DCupp

[shannybelle27]

Zantac you know I think your great and you have been a great help on ideas for my business designs But I have to disagree with the article here. Just because it is the wall street journal doesent mean they know what they are talking about. I truely feel in my heart we are at the door with our investment becoming fruitfull. Things are going to be moving very quickly and I think we will see a lot of good news at the same time. All it takes is 1 day for a situation to completely turn around. The last few weeks have been the most confusing with all the contradicting articles....if thats not a sign that the rv is coming I don't know what is. I have been in this investment for 6 years..I have gone through the "rv's this weekend" "the by christmas rv's" you name it Ive heard it. The problem was before I thought I understood what it would take for this investment to pay off and I really didn't thats why I got so dissapointed but now I know a lot more about this investment and the steps that need to be taken for an rv to take place and now I feel more confident than ever that we are going to see some progress sooner than later. Ive never believed that more than I have now! So be encouraged everyone! Do not let your hearts be troubled..do not let confusing news get the best of you! We are the door and this investment is knocking!

[hrdbawl]

Ok Zantac...let's go ahead and entertain your idea or opinion (not saying you are right or wrong by the way). I read this article and agree, their banking might very well be a bit "chewed up" and has a lot of catching up to do. However, have you considered that the real issue for the RV/RI and their ability to perform lies specifically within the CBI itself? The banking system can be a bit "behind the times" which is what I read in this article, but I am wondering why you feel this will push out to AFTER the end of 2010? I get what you are thinking but the banks and the CBI are two different animals when it comes to the RV/RI. Just curious if I'm missing something here as it is entirely possible.

Edited October 28, 2010 by hrdbawl

[QTen]

True to form the DV wishers, posted less than 2 minutes & already negative hits to the full.

Let’s face it you all hate the truth but love to believe in a good old daft rumour.

This road will be much harder for you unless you face the facts

I had no idea that your opinion is "FACT".

[mules4us]

Sure hope you are wrong! Sometimes think my head needs to be on a swivel with all of the twists and turns and wide variety of opinions I have been reading. But it is never boring!

[zantac]

International companies investing in Iraq are currently dealing mostly with a post-war-opened Trade Bank of Iraq, set up by the U.S. authorities in July 2003

IN SHORT WE ALL KNOW THIS AS THE CBI

DO SOME HOMEWORK YOU MAY LEARN SOMETHING

[RiverStyx]

I am not in agreement on all your facts but I too think there is a possibility from happening now to the first few months into the new year. My original thoughts after reading the letter of intent 3 times were the first of the year. Since 05 when I first was involved I have never thought it has had potential until the current events that led up to this month.

That being said I took a negative off of yours as you are entitled to your opinion as we all are. Would have been a good title (in my opinion).

[keylime]

Thanks for the real scoop on this.....I've been thinking sometime around June 2011. After all the months and all the dates for RV that come and pass over and over and over again I am amazed at how so many here don't realize that this is moving on a time frame whose clock is moving at an international level. One day on that clock is a month on ours. I have gleened from all the information on this site and others....that we have months to go still. It is refreshing to see some reason from someone else who can see the real possibility of this. Look I wish it would happen right now...it's just the news and the speed of movement doesn't indicated anything happening soon at least to me anyway.

I am not an expert on countries RV'ing and what really triggers it and what goes on behind the scenes, but I have been following and educating myself for over a year and I don't see anything that would say it is not going to happen soon. What news and speed of movement are you referring to that would tell you it is RV'ing? Are you intimately familiar with the process of a country RV'ing, and the unusual circumstance that makes the Iraqi RV completely different from previous countries? Just would like to know from your experise. Thank you.

[leggman24]

I hate to disagree with you Z, but the structure of the banks has already been done according to Viper 51 and the research that Scooter has done. I read the article earlier and disreguarded it because of those facts. I think its a whole lot of smoke coming out. Its been like this all day. They have always said that it would be like this toward the end of the ride. GO RV!!!!!!!

[Chief V]

Zantac, I don't see these paragraphs as being a hindrance, I personally have posted articles and seen many more where they are up to speed now with the banks, yes they are doing some more training, but I believe a lot of that has to do with the ISX more than anything else. They went to Beirut in March or April of this year just for bank training. The banking infrastructure should be complete by this time now. The last article I believe said something about Nov. time line and it would be completed. Just because Raidian and Rasheed cannot handle it does not mean that the CBI can't handle them, the others will follow suit in time. That 7 Billion in fresh capital has to come from somewhere.....no worries.

I'm not taking it as bad news. I ain't no Guru, but you know as well as I do they have done things that we have not known about. Too many doggone things are pointing to a positive action happening soon, too many officials have said otherwise as well. Just my opinion.

V

[onerighthand]

I believe I believe I believe I believe I believe I believe I believe I believe I believe I believe I believe I believe I believe I believe I believe I believe I believe I believe I believe I believe I believe I believe I believe I believe I believe I believe I believe I believe I believe I believe I believe I believe I believe I believe I believe I believe I believe I believe I believe I believe I believe I believe I believe I believe I believe I believe I believe I believe I believe I believe I believe I believe I believe I believe I believe I believe I believe I believe I believe I believe I believe I believe I believe I believe I believe I believe I believe I believe I believe I believe I believe I believe I believe I believe I believe I believe I believe I believe I believe I believe I believe I believe I believe I believe I believe I believe I believe I believe I believe I believe I believe I believe I believe I believe I believe I believe I believe I believe I believe I believe I believe I believe I believe I believe I believe I believe I believe I believe I believe I believe I believe I believe I believe I believe I believe I believe I believe I believe I believe I believe I believe I believe I believe I believe I believe I believe I believe I believe

[FishBone]

Check out this article I found!

http://www.rferl.org/content/Key_Iraqi_Bloc_Signals_Readiness_To_Compromise_In_Coalition_Talks/2203256.html