Chat from another site

[Kimjackie]

I saw this chat on another site and thought it interesting so posted it.

Here are my notes from the 12/11/10 conference call at 12PM CST. I typed it as I heard it, for those who could not get in to the call. If I missed something, feel free to add. If I interpreted something incorrectly, feel free to correct me. I was trying to type as fast as I could. The call was recorded and will be available.

Sources from DC say rate in $3.80's range on or before 15th. I'll try to keep you posted until you can hear it.

An American bank is showing a rate other than 1170. Don't know what the rate is. JoeP doesn't anticipate any tellers seeing a new number, even if they do, they likely won't know what it means. The general employee of any American bank won't recognize it's changed. They won't know until they are told. It is there in preparation of the change.

The UN will not update the sheet 48 hours ahead of time (in Joe's opinion). They are not going to tell the world 48 hours in advance. His opinion only that the operational rate will not be shared in advance.

Check has heard that it would either be announced (not via CNN or any other big announcement)on CBI and on the Forex board and it's just going to be there. Believes Joe and others are correct and you will see it when you open up your boards. No big announcement.

If no other currencies adjust, which is doubtful, Joe doesn't think there will be much press at all.

From Carol: Spoke to contact this AM, contact is tied up until later in day. Things are happening. A few months ago when they thought things were going to change, they made sure they repriced their merchandise, they have put back on dual pricing so that when it's ready, they can have the prices ready to check out at stores. They didn't take off old prices, just added new prices. She doesn't know what those new prices are. Presently, the new prices are back on. All they do now is wait. They are selling at the old price, but ready with the new price.

Carol says we are looking at a $3.86 number. Check says he's just kind of stuck to the $3.22 number from the G20.

Carol adds in reference to Mr. C, she agrees wholeheartedly, it's very important to honor our sources, there are certain things that can not be shared. For example, she has a source with a source in Iraq. You have to honor the fact that they have to honor a gag order. Severe punishment for breaking a gag order. If she can share something, she will have done as much research as she can. Won't say anything about what she was told until she can verify it.

From Check: Some people wanted to be on call but did not want to be heard. There will be a call later, not recorded, with 10 - 15 people to share information. The information will be passed along, but there is a need to protect sources.

From Simon: Between 600 & 860 contracts were written with Iraq are coming to expire on the 12th or 13th. Joe says it appears to be the 15th. Steve's contract doesn't have an expiration date. Contracts potentially for void if deal isn't done. Yes, they can rewrite contracts, but seems to Simon this is leading to another point on the date. Contracts can be rewritten, but doubtful. Pertains to contracts that won't be renewed if they don't do it. Relate to OPEC agreement. Those are critical and if they lose those, we're all in trouble (from Steve).

From Check: There's contracts that if this country loses, they lose credibility. These OPEC contracts, the debt that is about to fall back on them, the fact that the IMF says no more money, the fact that cards were loaded Thursday (verified to Check) all these things put pressure on them. The contracts are huge. If they don't satisfy some of these things, Iraq loses value. They need this so the governments and monetary systems that have put this in place have value. (Sorry, Check talks super fast - I'm trying to get all that he says).

There is 29 trillion in surplus, which is 250 billion. A lot of dinars. So now they want to borrow 5 billion from the CBI, all of a sudden they find a surplus from 09, of 29 trillion in assets. A little more wealth, but they had to let it out so their assets sheets show it.

They made a statement a couple of weeks ago, they said we can produce this much oil, the reason they did is to bring up the value of what Iraq can produce. One reason is b/c they are trying to revaluate themselves. Finding 29 trillion brings up the value of Iraq b/c it adds to their assets.

Here's the best thing of it, it's not corrupted money. It's found unspent money, adds to assets, political fo' paux, but adds to assets. Check says it's to help them revalue at a higher rate. Not a good thing to admit that you didn't count that money, it shores up balance sheets and strengthens their position on the RV dollar. It couldn't be gold b/c they've already done the gold accounting. Could be notes, could be oil, but not gold. Money allocated and not used from 2010 budget.

Budget last year short 11 billion?? Now there is excess. Bottom line, a huge plus for them that they have the asset. They are in the black instead of the red. They are going to have to push some of that money in to the reserve. The surplus is good so they can effectively approve or change the 11 budget. But to use it revalue, they'll have to move some of it to the reserve. Maybe they are going to move part of it to reserve to shore up the reserve. Bottom line, it's a good thing.

Check believes what we are hearing is the opening Sunday, we may see some changes.

We're in a great window here. It's not the only window, but a high probability window. Know some things behind the scenes that others don't. If it doesn't happen Monday, don't panic.

Check believes it's within days, could happen tomorrow, may wait til Monday.

From Steve: The prime minister and Biden talked, and plans are to release them from Chapter 7 and sanctions and place them back to pre-Saddam era.

From Check: Bringing them out of chapter 7 is a pretty big deal. They won't come out until they have reevaluated their dollars.

From Steve: Reads article regarding Biden wanting to return Iraq to pre-Saddam era. All the news you hear that govt won't be formed until 25th is absolute non-sense. Don't buy in to all that garbage. It's like they are introducing their country to the world, they're not going to go over there and not know who their players are.

From someone I don't know: We are re-introducing Iraq to the international community, the only way to do that is to have a tradable currency.

Later today Steve will put up on a special post, Oil Contracts by SteveI. Look for it later today (he has to go now).

Steve: Has signed up to receive RSS feeds, Steve gets all his news prior to Currency Newshound, if you see it there and he doesn't post it, he's talking, or sleeping, or whatever, but he's on top of it. Had to close one thread b/c this organization didn't believe it would happen to 25th. Steve has read probably 20 articles that says they will get it done. He's not going to waste time with one negative article. Steve will close negative posts. If you put up something negative, explain why. Don't let posts get carried away where you have to start blanking out words.

Regarding post from Randy: Billion US or trillion dinar?? 25 billion USD = 29 trillion dinar. CBI advisor found and reported this. CBI came out and called for re-engineering of the budget. For some guys to help with articles, try to follow them, if there are 2 or 3 that pertain to the same thing, Steve will put them together so we can read them all in to one without going all over the place.

Check: Basically this money found by the CBI strengthens the Iraqi dinar. Here's talk that it won't happen til 25th. If you've got reserves going off on Monday, it doesn't help. Still may not happen Monday. When trade goes live Sunday night, watch to see what happens. Not trying to predict rate and date. Please don't tell everyone they are saying a date and rate, all they've done is repeated information they have heard. Their intel is saying the rate is in the $3.80's range and looks to be around the 15th, there is a meeting the 18th, Chapter 7 will be lifted, RV can't happen til Chapter 7 is lifted - these are all what they are hearing from sources, just what they have found. Don't bet the farm that this will happen Monday or Wednesday. Just feeding us the information they have been fed. But we are almost to the end and this is very cool.

Just not going to be something where you walk in a room and flip a switch and it's there. It's like a dimmer switch. It will happen slowly. Don't put anything on reserve based on what anyone is saying. Understand their comfort levels. Don't bet the farm on anything. Do what's comfortable.

We've all done connect the dots. We're getting to the point of connecting the last few dots. They are doing that with letting the banks know, with statements from Biden, with Smart cards. When the last dot is connected, we're going to celebrate. Don't panic if it doesn't happen, Sunday, Monday, or Tuesday. Maliki has to the 25th. He's trying to fast track it. Watch the horizon lines. Just be calm. Don't over react, especially when the event occurs.

No reason to panic once it RV's. Don't worry about cashing in all at once. Get some good advice.

Let's say BOA is the first in the first 48 hours. Realize that the next day if you run down to the teller, they will look at you like you're crazy. Give the banks time to set up. The confirmation last night indicates that the banks knew of it, but now they see the reality of it. Now the banks have a number to see. The reality is much closer. Don't run to first bank on first day. Take your time. Don't every body go out and put stuff on reserve based on what everyone says.

Whew!! Sorry for the long post. Just wanted the folks who couldn't get in to have the info until they could hear it once it's posted.

Just my opinion

Guns

.

Edited December 11, 2010 by Kimjackie

[kuntakinta]

Thanks for the post. I dont know what to believe anymore...

[ktlamm]

KJ thank you for taking he time to do something like this it was awesome and so are you..Good info

[thunderrb]

If it is 3.86, I will die of a Heart Attack before I spend a dime of it.

[jlassociates]

Thanks for the post and since you posted it I would like this answered and I quote:

From Carol: Spoke to contact this AM, contact is tied up until later in day. Things are happening. A few months ago when they thought things were going to change, they made sure they repriced their merchandise, they have put back on dual pricing so that when it's ready, they can have the prices ready to check out at stores. They didn't take off old prices, just added new prices. She doesn't know what those new prices are. Presently, the new prices are back on. All they do now is wait. They are selling at the old price, but ready with the new price

How is this possible prior to a rv? I was questioned about bringing this up in the chatroom while we were discussing it between ourselves by a mod, but since you made this post can someone please explain how this is possible?? Maybe we need to look to storeowners over there for intel...they obviously know more than anyone else in the whole world..

[rwharnden]

Thanks for the post! It is all good information from a group that has earned my respect!

[Kimjackie]

Thanks for the post and since you posted it I would like this answered and I quote:

From Carol: Spoke to contact this AM, contact is tied up until later in day. Things are happening. A few months ago when they thought things were going to change, they made sure they repriced their merchandise, they have put back on dual pricing so that when it's ready, they can have the prices ready to check out at stores. They didn't take off old prices, just added new prices. She doesn't know what those new prices are. Presently, the new prices are back on. All they do now is wait. They are selling at the old price, but ready with the new price

How is this possible prior to a rv? I was questioned about bringing this up in the chatroom while we were discussing it between ourselves by a mod, but since you made this post can someone please explain how this is possible?? Maybe we need to look to storeowners over there for intel...they obviously know more than anyone else in the whole world..

To answer your question I dont know. This is not my post only one I saw and reposted for those that would enjoy reading it. I certainly enjoyed it. I have read and heard in other chats that prices were being changed in Iraq at stores, but I am sorry I cannot tell you where I saw or heard that. Maybe someone else does. Have a nice day.......

If it is 3.86, I will die of a Heart Attack before I spend a dime of it.

thunderrb, I certainly agree. My husband said if its 86 cents he will feel calm but a little dizzy and if its $2.00 he might feel faint but if its $3+ he will never know what type of feeling he will have since he will be dead of a heart attack. I probably would be too.

[frankc]

I agree. They are not going to tell, of all people, the store owners ahead of time. How ridiculous.

Also, why aren't one of these guys suggesting the Baharaini dinar rate of about $2.55 that Scooter shows was listed in the planning sheets. There isn't much credibility to this post. Just a lot of speculation and he said, she said like we've seen a million times before.

[hopefullbk]

Thanks for the post and since you posted it I would like this answered and I quote:

From Carol: Spoke to contact this AM, contact is tied up until later in day. Things are happening. A few months ago when they thought things were going to change, they made sure they repriced their merchandise, they have put back on dual pricing so that when it's ready, they can have the prices ready to check out at stores. They didn't take off old prices, just added new prices. She doesn't know what those new prices are. Presently, the new prices are back on. All they do now is wait. They are selling at the old price, but ready with the new price

How is this possible prior to a rv? I was questioned about bringing this up in the chatroom while we were discussing it between ourselves by a mod, but since you made this post can someone please explain how this is possible?? Maybe we need to look to storeowners over there for intel...they obviously know more than anyone else in the whole world..

I think this would be very easy to verify. If there is someone based over there, they can go into one of the shops/stores and see if there are 2 price tags on items. If there are, we would be able to decipher the rate very easily. I know there are more than a few members to this site that are based over there that may be able to check this out, that would be great.

[Legolas]

Thanks for the post and since you posted it I would like this answered and I quote:

From Carol: Spoke to contact this AM, contact is tied up until later in day. Things are happening. A few months ago when they thought things were going to change, they made sure they repriced their merchandise, they have put back on dual pricing so that when it's ready, they can have the prices ready to check out at stores. They didn't take off old prices, just added new prices. She doesn't know what those new prices are. Presently, the new prices are back on. All they do now is wait. They are selling at the old price, but ready with the new price

How is this possible prior to a rv? I was questioned about bringing this up in the chatroom while we were discussing it between ourselves by a mod, but since you made this post can someone please explain how this is possible?? Maybe we need to look to storeowners over there for intel...they obviously know more than anyone else in the whole world..

Simple answer..... I don't believe it IS. Makes absolutely no sense at all. .

[jlassociates]

Kimjackie... I thanked you for the post and I meant it. My post was not intended to offend you in anyway . I was on that call and heard it. I only wish for someone to answer my question as I cant for the life of me figure it out. Maybe someone can come and explain this to me so that I better understand how can a store owner change his prices prior to a rv?? Not being a jacka** or anything I would just like to know. I then get a negative for my post just trying to find some information...go figure

[truckdriver]

3.86 that willbe good I think it will be 3.22

[twiztid]

how many more times are all these so called sources going to be wrong?

[pleasantvalleySunday]

moving this thread to rumors

[Traconesu02]

Thanks for posting this Kimjackie - Definitely should be in Rumors section - But Fantastic Rumor just the same.

[lost one]

Thanks for the post and since you posted it I would like this answered and I quote:

From Carol: Spoke to contact this AM, contact is tied up until later in day. Things are happening. A few months ago when they thought things were going to change, they made sure they repriced their merchandise, they have put back on dual pricing so that when it's ready, they can have the prices ready to check out at stores. They didn't take off old prices, just added new prices. She doesn't know what those new prices are. Presently, the new prices are back on. All they do now is wait. They are selling at the old price, but ready with the new price

How is this possible prior to a rv? I was questioned about bringing this up in the chatroom while we were discussing it between ourselves by a mod, but since you made this post can someone please explain how this is possible?? Maybe we need to look to storeowners over there for intel...they obviously know more than anyone else in the whole world..

I'm with you!!! Let's start bribing the locals. Heck they can use the money, And withall the waiting they been doing with no pay. I would expect that would be no problem.

[sandy040]

from mates i worked with who are still out there and on the ground everyday , there are not two prices inany store that they goto

[hopefullbk]

from mates i worked with who are still out there and on the ground everyday , there are not two prices inany store that they goto

Thanks, figured someone would be able to verify or debunk that.

[DinarChiTown]

Kimjackie... I thanked you for the post and I meant it. My post was not intended to offend you in anyway . I was on that call and heard it. I only wish for someone to answer my question as I cant for the life of me figure it out. Maybe someone can come and explain this to me so that I better understand how can a store owner change his prices prior to a rv?? Not being a jacka** or anything I would just like to know. I then get a negative for my post just trying to find some information...go figure

You can't figure it out because it isn't factual. How could one determine what to price their goods at if they don't know the RV rate. Just another silly rumor. And don't worry about negatives and positives, it's childish when people do that. Next week should be interesting! Enjoy! Go Bears!

[sassytexan]

You did a great job, thank you some people can talk pretty fast and it is hard to keep up with what they are saying.. Great job, give yourself a pat on the back.

[tobias1995bmw]

we don't need the gurus because all we need is jesus. He will take us to the promise land.

oh please he should have taken us to the promise land a long time ago

Simple answer..... I don't believe it IS. Makes absolutely no sense at all. .

I think you need to go back to sesame street legolas

moving this thread to rumors

of course its a rumor, really? you may be a rumor too

[MrRich]

Thanks for the post and since you posted it I would like this answered and I quote:

From Carol: Spoke to contact this AM, contact is tied up until later in day. Things are happening. A few months ago when they thought things were going to change, they made sure they repriced their merchandise, they have put back on dual pricing so that when it's ready, they can have the prices ready to check out at stores. They didn't take off old prices, just added new prices. She doesn't know what those new prices are. Presently, the new prices are back on. All they do now is wait. They are selling at the old price, but ready with the new price

How is this possible prior to a rv? I was questioned about bringing this up in the chatroom while we were discussing it between ourselves by a mod, but since you made this post can someone please explain how this is possible?? Maybe we need to look to storeowners over there for intel...they obviously know more than anyone else in the whole world..

This makes about as much sense as okie's claim that the lower denoms have been released but unfortunately he doesn't know how to upload a photo so he can't show us any proof! This would be so easy to confirm and determine a rate from if it was true but it's not.

Folks this is the GET Team all over again. They got a bunch of gullible people to trust them and follow them and now they're pumping out a bunch of manure. Before long we'll be hearing stories about $8 rates and politicians waiting in hotel rooms in Santa Monica to cash in.

[deenar]

oh please he should have taken us to the promise land a long time ago

I think you need to go back to sesame street legolas

of course its a rumor, really? you may be a rumor too

Wow! 3 smart ass responses in one post. That's got to be a record. You sound like a miserable person.

[umbertino]

If it is 3.86, I will die of a Heart Attack before I spend a dime of it.

Don't do that... If anything, just think of it as a matter of pride

how many more times are all these so called sources going to be wrong?

Let's say a few billion

we don't need the gurus because all we need is jesus. He will take us to the promise land.

Are you sure? Sounds like another rumor.

Edited December 11, 2010 by umbertino

[roadkill-67]

This sounds plausible to me. I hope it pans out!