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Medic’s chat: DS - 2/6/2011 @ 9:07 AM


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Medic’s chat: DS - 2/6/2011 @ 9:07 AM

M and M’s says to (09:07:15):

Check this out:http://www.**************.com/showt…9372#post79372

http://en.aswataliraq.info/Default1….&id=140862&l=1

Here is the post of the day…..not much could beat this…..it is short and sweet….but has allot in it…..not just was the budget passed….it also means that Shabibi won out….no money is going to be taken from the Central Bank from the Foreign Currency Reserves….and the next great news is this…..4.5 billion is being borrowed from the IMF and another 2 billion from the World Bank…..now we know this…that the IMF has demanded the monetary policy change for the Central Bank and also approved the deletion of 3 zero’s from the nominal value of the dinar…..this as I said had allot more in it than just the approval in an extraordinary session of the Counsel of Ministers….This was great news and and outstanding find…..

Med says to (09:16:11):

WELL I HAVE TO SAY MY FAVORITE CANDY TODAY IS M&M’S..NOT MUCH IS GOING TO BEAT MY FAVORITE POST FOR TODAY..UNLESS THEY REVALUE.LOL!..I WAS NOT GOING TO BE ON TILL TONIGHT.

BUT WHEN I READ IT..I WAS ECSTATIC..IT IS SHORT AND SWEET..BUT SO MUCH IS IN IT.FIRST YES THE BUDGET WAS APPROVED IN AN EXTRAORDINARY SESSION.WHICH AS I SAID LAST NIGHT WHEN ALL WHERE UPSET.OVER PARLIAMENT NOT IN SESSIO TODAY.I SAID THEY WOULD NOT SIT STILL TODAY.AND THEY DID NOT.AND THERE IS MUCH MORE.FIRST OFF.4.5 BILLION USD FROM THE IMF.AND.2 BILLION USD FROM THE WORLD BANK.NO MENTION OF TAKING FROM THE CENTRAL BANKS FOREIGN .CURRENCY RESERVES.WHICH MEANS NO DEPLETION OF ASSETS TO COVER A REVALUE.AND ALSO THE IMF IS GREAT NEWS.IT MEANS THEY HAVE DECIDED TO AGREE TO THE STIPULATIONS THE IMF DEMANDED.WHICH WAS CHANGE THE MONETARY POLICY.AND THAT THEY HAD TO CLOSE THE GAP BETWEEN THE USD AND THE DINAR..WHICH THE IMF SAID THEY TOTALLY APPROVED THE REMOVAL OF ZERO’S FROM THE NOMINAL VALUE OF THE DINAR.NOW THE WORLD BANK HAS NEVER BEEN WILLING TO BORROW A LARGE AMOUNT TO IRAQ.SO WHATEVER IRAQ AGREED TO WITH THEM.HAD TO BE VERY DECISIVE.SO THERE YOU HAVE IT.ALLOT IN A VERY SMALL ARTICLE

OK

DATS ALL FOLKS

TY

SEE YOU LATER

I WANTED TO GIVE SOME UPLIFTING NEWS

FOR ONCE

PLEASE POST OK

MEDs CHAT 02-06-2011 10:30 AM est

tmac096 says to (10:30:13):

Something interesting in the post stated the budget was ased upon $76.50 a barrel. Isn’t oil trading in the $90.00 range? They will make up the shortfall in no time if that rate sticks.

amishoutlaw says to (10:30:30):

sure would tmac

Med says to (10:30:40):

IT WON’T

alphonse43 says to (10:30:42):

right, but prices can go down

GOP says to (10:30:46):

I saw that too tmac

Med says to (10:31:01):

YOU ARE ALL WATCHING WINTER OIL PRICES

AND THAT IS WHY THEY DON’T USE THE ONE CURRENT

THEY ALWAYS GO DOWN IN THE SPRING

AND THE IMF KNOWS IT

AND IRAQ DIDN’T LISTEN 3 YEARS AGO

AND IT DEVASTATED THE BUDGET

SO DON’T PUT ANY STOCK INTO THE PRICE OF OIL NOW

amishoutlaw says to (10:32:22):

ok

makes sense

Med says to (10:32:53):

CONTRARY TO POPULAR BELIEF

NOT MUCH ESCAPES ME

LOL

tmac096 says to (10:33:06):

Thank you Yoda for more pearls of wisdom. We dinar jedi wanna be’s appreciate it

alphonse43 says to (10:33:15):

not much at all

guardian says to (10:33:51):

more budget confirmation: The Iraqi government recognizes the current year budget after an increase of three billion dollars http://www.**************.com/showt…9400#post79400

Med says to (10:34:18):

ALSWAT HAD THE FIRST REPORT

AND IS THE MOST RELIABLE NEWS OUTLET IN IRAQ

TY GUARDIAN

OK GANG I AM OUTTA HERE

HOPE YOU ALL GOT MY EMAIL

LATER ALL

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Oil may go down in the spring, but I am pretty sure it picks up again in the Summer with more people driving. (Think vacations, etc)

Spring would make sense considering it is not the summer season (and winter little driving happens, but a lot of natural gas may be heating housing).

Still think it'll drop to that $70 mark maybe in the spring, but Summer-time it'll go up to around $100.. That's my speculation

Remember.. Oil was trading at a high $ during the summer when pushing $4/gallon.

$148 I think was the peak point. Happened either early Summer too if I recall correctly.

Either way, I think they'll be generating a surplus.

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Hey Ron

Please educate me about the droping of the 3 zeros this has always been a very vague area to me--does that mean a 25,000 dinar note would be now worth 25 dinars or could it mean that as the 25,000 dinar notes are turned in and recorded on the books as an asset the phyiscal note is destroyed and the lower demoninations are introduced into the Iraqi economy--the big notes value is still on the books but just removed from circulation thus lopping off the 3 zeros

It would seem to me that this is a way to show the world that Iraq is a up and coming player on the world scene, the PR recieved would be imeasurable in good will to all the world and benefit those wanting to invest within Iraq seeing that the government can be trusted and encourging outside commerce--to in effect devalue the currency by dropping the zeros then RV would be a detrimential move as everyone including the various world goverments who are holding the dinar now have lost a substantial part of their holdings ---I for one believe it has been worked out already to allow the biggest holders of the dinar[ goverments] to only cash in a controled manner to keep Iraq from going broke on the day after RV and the money changers will only cash in as the rate [playing the spread] goes up thus making even more on their buying and selling the dinar.

Your Thoughts please

Thanks for your help on this sticky situation .

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DROPPING OF THE 3 000'S WILL BE FROM THE NOMINAL VALUE WHICH IS .00086, ONCEW THEW 3 000'S COME OFF THEN THERE IS YOUR RATE .86. THE BIG K NOTES ARE NOT GOING AWAY, WHY DO I KNOW THIS? ITS BECAUSE I AM RIGHT HERE IN BAGHDAD WORKING ALONG SIDE WITH IRAQI SECURITY TEAMS. GOOOOO RVVVVVV ITS ALMOST THERE GANG.

Edited by turbopropmech
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Hey Ron

Please educate me about the droping of the 3 zeros this has always been a very vague area to me--does that mean a 25,000 dinar note would be now worth 25 dinars or could it mean that as the 25,000 dinar notes are turned in and recorded on the books as an asset the phyiscal note is destroyed and the lower demoninations are introduced into the Iraqi economy--the big notes value is still on the books but just removed from circulation thus lopping off the 3 zeros

It would seem to me that this is a way to show the world that Iraq is a up and coming player on the world scene, the PR recieved would be imeasurable in good will to all the world and benefit those wanting to invest within Iraq seeing that the government can be trusted and encourging outside commerce--to in effect devalue the currency by dropping the zeros then RV would be a detrimential move as everyone including the various world goverments who are holding the dinar now have lost a substantial part of their holdings --- I for one believe it has been worked out already to allow the biggest holders of the dinar [goverments] to only cash in a controled manner to keep Iraq from going broke on the day after RV and the money changers will only cash in as the rate [playing the spread] goes up thus making even more on their buying and selling the dinar.

Your Thoughts please

Thanks for your help on this sticky situation .

Hi Cliff,

This topic has been beaten to death, and our archives can cover every perspective about the "lifting" of the three zeros. It is the most commonly accepted view (and mine as well) that it regards the removal of the "000" notes (25-10-5-1,000 notes). I won't go into all the substantiating info & articles because they are readily available in the archives, As for your remark about holders of large quantities (ie governments) - it is my understandings that the Paris Club Gov'ts have agreed to hold their IQD for a period of six months before they exchange to allow Iraq to have an orderly withdrawl of the large IQD notes - then they will trade their IQD for petro-dollars. The IQD will be held in each country as part of their Bank Reserves. That's my short version. Be Blessed...!

RON B)

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The budget was NOT passed....they have postponed the second reading and don't anticipate the budget being passed until at least next week....MEDIC is wrong again....surprise :P

smee post article backing up what you say if you don't mind. This helps everyone. Thanks for sharing! ;)

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The budget was NOT passed....they have postponed the second reading and don't anticipate the budget being passed until at least next week....MEDIC is wrong again....surprise :P

I personally don't know who right or wrong TimS.. Just my opinion

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Thanks Ron---the big print made my eyes bleed but that was my second thought also---now I am back to square one , trying to decide who is right as turbopropmech gave me his version that the the 3 zeros come off the .00086 and the 3 zero bills were here to stay

Guess I am just going to have to wait and see.

I guess I have been looking in the wrong places for information

Cliff

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