Hang in there It's happening NOW

[BanG]

This sounds good how do you like the rate? I can make $3.20 work, how about you? It sounds like good times this week.

<br style="mso-special-character:line-break">

I talked to my contact a little while ago about the ministers left to be voted on by the Parliament. He told me his contact in Iraq told him at 3am(Az) that they would be voting on these three positions Monday, which is going to be Sunday night our time. He also stated that he keeps seeing some important person from the US Treasury on TV that keeps talking about the economy and other things but couldn’t figure out who he is. I did some searching and was able to find this guy and he posted a blog on the Treasury’s website explaining what they are doing in Iraq. I am sending you the link. It confirms everything we were told last week.

Also, if you recall SteveI posted Monday that there was at least 12 Treasury department staff meeting with the Ministry of Finance and they were there to oversee the pending RV. No one believed him and he was bashed so bad he ended up deleting all of his posts. I believe this should help support all of his efforts to bring you the best information we have.

In this meeting our contact also stated that the rate was going to be $3.20.

Well, here is the article to backup what he posted that our contacts told us:

Engaging New Iraqi Leadership on Economic Policies for a Sovereign, Stable and Self-Reliant Iraq

Treasury Notes

In support of President Obama’s goal for a sovereign, stable, and self-reliant Iraq, I was in Baghdad this week for meetings with senior government officials, parliamentarians, regulators and banking sector leaders on key economic challenges facing Iraq’s leadership. My discussions focused on priorities facing the new government, including Iraq’s ability to use its oil resources to encourage economic growth and create opportunities for the Iraqi people and better integrating Iraq into the global economy.

On Sunday, Deputy Prime Minister Shaways and I co-chaired a meeting of the Iraq-U.S. Economics and Energy Joint Coordination Committee (JCC), attended by a broad range of U.S. and Iraqi government officials as well as Central Bank Governor Shabibi. The JCC was established under the U.S.-Iraq Strategic Framework Agreement, which lays out areas of cooperation in economic, political and security spheres and provides both governments with a platform to work closely on issues of mutual concern. At Sunday’s meeting, I reaffirmed the commitment of the United States to support Iraqi efforts to develop the economy across a wide range of issues, including public financial management, trade and investment, private sector development, and oil and gas.

While in Baghdad, I emphasized the need for financial sector reforms to create a modern, competitive and vibrant private sector that meets international standards, to help attract foreign investment in Iraq. I heard from Iraq’s leadership on the steps they are planning to take to improve Iraq’s investment climate, reduce corruption, increase transparency and strengthen the non-oil sectors of the economy. Over dinner, Finance Minister Issawi and I weighed various approaches to achieving his goals for Iraq’s economic agenda for the coming months and years, and resolved to enhance the relationship between Treasury’s technical assistance advisors in Baghdad with their Finance Ministry counterparts.

Key to creating and maintaining a globally competitive banking sector is an independent central bank. I reinforced the importance of maintaining the Central Bank’s independence, and congratulated Governor Shabibi on the progress the Central Bank has made in reducing inflation and maintaining a stable currency. I also talked about ways to improve joint efforts by the government and the Central Bank to strengthen banking supervision and to reduce the risk of abuse of the financial sector by illicit actors.

Deputy Secretary Wolin and Minister of Finance Rafi Al-Issawi

Iraq’s budget was also core to my discussions. I discussed with Finance Minister Issawi and other officials a prudent 2011 budget that will allow the government to effectively spend resources on investment projects that are needed to enhance the provision of basic services such as electricity, water and social services, including health and education.

I also heard from senior government officials on their efforts to establish a robust successor arrangement to the Development Fund for Iraq so that Iraq can transparently and effectively manage its oil resources. Iraq has been working closely with the IMF and World Bank on budget and financial sector issues, and I strongly encouraged such cooperation going forward to help provide expertise and resources where they are most needed.

Treasury has nearly a dozen staff in Baghdad – one of our largest teams anywhere in the world – providing technical assistance to help Iraq create a stable macroeconomic environment and build a solid foundation for economic growth. My meetings were extremely productive and helped to strengthen Treasury’s relationship with Iraqi leadership on key economic issues as part of the Strategic Framework Agreement. <-- Link for the Strategic Framework Agreement

The Obama Administration is committed to a sovereign, stable, and self-sufficient Iraq and intends to remain a key partner of the Iraqi people and government across a full range of issues. I look forward to strengthening Treasury’s partnership with Iraq’s leadership toward that end.

Neal Wolin is Deputy Secretary of the Treasury

Posted in: International

http://www.treasury....liant-Iraq.aspx

[zul]

this is a WOW!!

[dinarholder253]

This is f-ing huge BanG!!! I really hope this ride is almost over!!

GO RV

Oh yeah and thank you!!!!

Edited February 21, 2011 by dinarholder253

[BanG]

This is f-ing huge BanG!!! I really hope this ride is almost over!!

GO RV

Oh yeah and thank you!!!!

I agree, we MUST all pray that the powers that be make this happen! So much going on right now we can only PRAY!

[dinarholder253]

Pray not just the RV..... Humanity in general! Where did you you find this? Is it a credible source?

[BanG]

Pray not just the RV..... Humanity in general! Where did you you find this? Is it a credible source?

I do not personally know the source I only read their information at the US Treasury site and then the rest I found on another site. The US Treasury I would count as a credible source the others I do not know. I can only Pray and hope as we all do for the RV to come to pass for us all. God Bless.

[dinarholder253]

Thank you for all that you do. You have been a very busy bee posting lately and it has been much appreciated! Thank you, and God bless

[anonmouse013]

This sounds good how do you like the rate? I can make $3.20 work, how about you? It sounds like good times this week.

<br style="mso-special-character:line-break">

I talked to my contact a little while ago about the ministers left to be voted on by the Parliament. He told me his contact in Iraq told him at 3am(Az) that they would be voting on these three positions Monday, which is going to be Sunday night our time. He also stated that he keeps seeing some important person from the US Treasury on TV that keeps talking about the economy and other things but couldn’t figure out who he is. I did some searching and was able to find this guy and he posted a blog on the Treasury’s website explaining what they are doing in Iraq. I am sending you the link. It confirms everything we were told last week.

Also, if you recall SteveI posted Monday that there was at least 12 Treasury department staff meeting with the Ministry of Finance and they were there to oversee the pending RV. No one believed him and he was bashed so bad he ended up deleting all of his posts. I believe this should help support all of his efforts to bring you the best information we have.

In this meeting our contact also stated that the rate was going to be $3.20.

Well, here is the article to backup what he posted that our contacts told us:

Engaging New Iraqi Leadership on Economic Policies for a Sovereign, Stable and Self-Reliant Iraq

Treasury Notes

In support of President Obama’s goal for a sovereign, stable, and self-reliant Iraq, I was in Baghdad this week for meetings with senior government officials, parliamentarians, regulators and banking sector leaders on key economic challenges facing Iraq’s leadership. My discussions focused on priorities facing the new government, including Iraq’s ability to use its oil resources to encourage economic growth and create opportunities for the Iraqi people and better integrating Iraq into the global economy.

On Sunday, Deputy Prime Minister Shaways and I co-chaired a meeting of the Iraq-U.S. Economics and Energy Joint Coordination Committee (JCC), attended by a broad range of U.S. and Iraqi government officials as well as Central Bank Governor Shabibi. The JCC was established under the U.S.-Iraq Strategic Framework Agreement, which lays out areas of cooperation in economic, political and security spheres and provides both governments with a platform to work closely on issues of mutual concern. At Sunday’s meeting, I reaffirmed the commitment of the United States to support Iraqi efforts to develop the economy across a wide range of issues, including public financial management, trade and investment, private sector development, and oil and gas.

While in Baghdad, I emphasized the need for financial sector reforms to create a modern, competitive and vibrant private sector that meets international standards, to help attract foreign investment in Iraq. I heard from Iraq’s leadership on the steps they are planning to take to improve Iraq’s investment climate, reduce corruption, increase transparency and strengthen the non-oil sectors of the economy. Over dinner, Finance Minister Issawi and I weighed various approaches to achieving his goals for Iraq’s economic agenda for the coming months and years, and resolved to enhance the relationship between Treasury’s technical assistance advisors in Baghdad with their Finance Ministry counterparts.

Key to creating and maintaining a globally competitive banking sector is an independent central bank. I reinforced the importance of maintaining the Central Bank’s independence, and congratulated Governor Shabibi on the progress the Central Bank has made in reducing inflation and maintaining a stable currency. I also talked about ways to improve joint efforts by the government and the Central Bank to strengthen banking supervision and to reduce the risk of abuse of the financial sector by illicit actors.

Deputy Secretary Wolin and Minister of Finance Rafi Al-Issawi

Iraq’s budget was also core to my discussions. I discussed with Finance Minister Issawi and other officials a prudent 2011 budget that will allow the government to effectively spend resources on investment projects that are needed to enhance the provision of basic services such as electricity, water and social services, including health and education.

I also heard from senior government officials on their efforts to establish a robust successor arrangement to the Development Fund for Iraq so that Iraq can transparently and effectively manage its oil resources. Iraq has been working closely with the IMF and World Bank on budget and financial sector issues, and I strongly encouraged such cooperation going forward to help provide expertise and resources where they are most needed.

Treasury has nearly a dozen staff in Baghdad – one of our largest teams anywhere in the world – providing technical assistance to help Iraq create a stable macroeconomic environment and build a solid foundation for economic growth. My meetings were extremely productive and helped to strengthen Treasury’s relationship with Iraqi leadership on key economic issues as part of the Strategic Framework Agreement. <-- Link for the Strategic Framework Agreement

The Obama Administration is committed to a sovereign, stable, and self-sufficient Iraq and intends to remain a key partner of the Iraqi people and government across a full range of issues. I look forward to strengthening Treasury’s partnership with Iraq’s leadership toward that end.

Neal Wolin is Deputy Secretary of the Treasury

Posted in: International

http://www.treasury....liant-Iraq.aspx

Appears on the website for US Department of the Treasury under Treasury Notes: http://www.treasury.gov/connect/blog/Pages/Engaging-New-Iraqi-Leadership-on-Economic-Policies-for-a-Sovereign-Stable-and-Self-Reliant-Iraq.aspx

[Jomper]

This all came from PD...

[aquaman907]

BanG If only all the posts in the forum could stay on topic with such clarity and referece. I really enjoy reading good work! It makes me think my time spent is worthwhile. Thanks for a great post. This is what is needed to get rid of the bashing and get back to solid information not "intell".

[Nelson0528]

+1 for the post BanG. Thank you for your effort to bring us the goods!

This is however, typical of "Don't Promote Other Sites"... they blind you with some outstanding facts and then spoon feed you BS while you are star-struck. $3.20 is simply not going to happen right out of the gate for an RV. They simply do not have the infrastructure, stability or security to support a value at this level yet. In time it very likely will regain it's former glory at $3.22 or possibly more. But, for now, let's just get this thing on the world stage; at whatever rate... likely it will be low initially. Say what you like about all the "Big Fish" that will "buy in" at a low rate; but, they can only buy what is available for trade. The currency markets will not significantly affect the exchange rate. As long as it is responsibly controlled by the CBI (which it will be to curb inflation) I mean "Big Fish" will only pay so much over the exchange rate if they know it will not appreciate significantly in the short term. CBI has repeatedly promised to manage the exchange rate to control inflation and keep the Iraqi economy healthy. It is within their power and certainly in their legal responsibility to make it so... JMO, but think about what I have said... Sure, ANYTHING crazy, would certainly be no surprise out of that place; but, I believe logic and common sense will prevail when it comes to their currency and their economy. They simply cannot afford to fail at this point...

Edited February 21, 2011 by Nelson0528

[BanG]

+1 for the post BanG. Thank you for your effort to bring us the goods!

This is however, typical of "Don't Promote Other Sites"... they blind you with some outstanding facts and then spoon feed you BS while you are star-struck. $3.20 is simply not going to happen right out of the gate for an RV. They simply do not have the infrastructure, stability or security to support a value at this level yet. In time it very likely will regain it's former glory at $3.22 or possibly more. But, for now, let's just get this thing on the world stage; at whatever rate... likely it will be low initially. Say what you like about all the "Big Fish" that will "buy in" at a low rate; but, they can only buy what is available for trade. The currency markets will not significantly affect the exchange rate. As long as it is responsibly controlled by the CBI (which it will be to curb inflation) I mean "Big Fish" will only pay so much over the exchange rate if they know it will not appreciate significantly in the short term. CBI has repeatedly promised to manage the exchange rate to control inflation and keep the Iraqi economy healthy. It is within their power and certainly in their legal responsibility to make it so... JMO, but think about what I have said... Sure, ANYTHING crazy, would certainly be no surprise out of that place; but, I believe logic and common sense will prevail when it comes to their currency and their economy. They simply cannot afford to fail at this point...

I agree in some respects with your summary. I'm still reading and researching this at the IMF and the US treasury site. On a positive note seems as though things are calming down in Iraq and progress is being made.

[yusofsabri]

Very interesting. Thanks for the post.

[jlopez]

Thank you BanG... Great find, Let's all stay POSITIVE and hope we can get an RV soon.. I'm in Iraq as we speak and i would love to get out of here.. GO RV!!! God Bless

[pureau79]

I do not personally know the source I only read their information at the US Treasury site and then the rest I found on another site. The US Treasury I would count as a credible source the others I do not know. I can only Pray and hope as we all do for the RV to come to pass for us all. God Bless.

I have read the entire post and appreciate it. If I differ with you in any respect it is merely in the fact that you assume UST is credible. This is due to my own heart-felt suspicions and has nothing to do with your post. I personally feel that they are not credible at the Treasury Department and the official's promotion of a Central Bank is simply the promotion of a few select individuals to get their hands into Iraq's cookie jar. I am in agreement that $3.20 is not likely to be the initial rate. Other than that, the information is well received and considered a positive indication that we are seeing movement in the desired direction. Thank you for taking time to ferret out this information...

[Oscar2]

I could not get the " Strategic Framework Agreement" link to work?

[BanG]

I could not get the " Strategic Framework Agreement" link to work?

Use my first post at the very top, I just checked the link and it is working.

[tommy17]

The funny part is Barry sending are treasury team over there to help. When Iraq looks at are debt they got to laugh. iI think we are close to this thing happening.

[ChuckFinley]

BanG, you just made my day. Thanks for your efforts!!! We just need this to close and see the money in the bank.

[pops]

BanG,

Thanks for this post and the others that you have been posting. It indeed looks like this is pulling together. The date of RV ??? The rate of RV ??? But it looks like it could be in days or weeks instead of this year or next year or next after that. .Laissez les bons temps rouler, LET THE GOOD TIMES ROLL!!! See you at the Bank.

[venetia]

What a great post to read on a miserable Monday morning. Thanks Bang.......always enjoy what you write.

[Nitrobuzz]

Good Job BanG! I appreciate your efforts, as always. And to those who say $3.22 isn't possible are about to be surprised. No, we don't know the rate but we do know the history of Iraq and the IQD. And it is possible!

High Rate: All in at cash in time

Low Rate: Cash in a small percentage and wait

Either way I'm happy

[Stamp]

Im more keen to know when RV will take place; the rate is secondary.....

[Slaydadea]

Great job BanG! A real "picker upper" for me. It would be great for a lot of folks if that rate held up.

[BanG]

Im more keen to know when RV will take place; the rate is secondary.....

How right you are sir. That is the MILLION dollar question we all need to hear. Go RV! cmon Shabbs give us a treat and share a little. RV NOW! SIGH he still doesn't answer me.