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*** my buddy johnny met shabbs at the U.S commerce**

easyrider

By easyrider,
in Dinar Rumors

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easyrider Newbie

easyrider

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I (John) asked the following question:

"With respect to the ongoing need for "stability" in Iraq and its exchange rate, would it not follow that there is a direct need for a revaluation of the currency to induce both domestic and foreign investment in Ira? And...with regard to that, how far are we from a potential revaluation of the Iraqi currency?"

...To which DR. Shabibi replied... The revaluation will occur, but he does not know when and cannot/would not say anything more about dates and rates.

If inflation continues, they will have problems. It will all hinge on the development of the country.

The cutting of the three zeroes should not be exaggerated as to what it does or does not mean.

Help is needed for the future of Iraq.

The policy rate is all an outgrowth of the bank rate and realization of stability.

Another person asked a question... Are you seeing an effect on lending and lending activities?

Answer: The risk is in the lending. Some lenders have a problem with the banks and government.

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So, what does this all mean? Well, after 29 years inside the beltway and 5 presidential campaigns as well as many other political experiences, I can tell you this...

This 25 min talk with a 10-15 min Q + A, left MANY more questions with me than providing REAL answers. There is no doubt that Dr. Shabibi is a bright dude...

http://en.wikipedia....inan_Al_Shabibi

HOWEVER... he was either engaging in a clear campaign of obfuscation and chicanery just prior to the RV (which may very well be the case to throw dinarians and would be dinarians off the trail) OR he's going senile at age 70. Either way you look at it, this was NOT a high wire act. Who knows, maybe he had jet lag and was just phoning in this appearance due to a prior commitment that he deemed necessary to fulfill.

My guess is that it is the former is true and that he's not going to tip his hand prior to a potentially imminent RV.

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Additional note: I (John) walked up to Dr. Shabibi after the speech and Q and A and asked him again whether or not the RV was imminent and if a sitting GOI was an important and crucial part of the dynamic. His response: The is an economic event. The GOI has no bearing on this. The main indicator of an approaching RV will be continued inflation that they cannot control. This will be one in a number of economic factors which will drive the ultimate need for revaluation.

This whole talk reminds me of the classic Peter Sellers film directed by Hal Ashby entitled "Being There". In a classic scene, a gardener tells the president of the United States how to engage in economic policy in accordance with the changing of the seasons. Check out the two links below and you might just think there are parallels between Dr. Shabibi's ramblings ("stability") and that of Chauncey Gardiner's ("all will be well in the garden") .

Edited by easyrider
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easyrider Newbie

easyrider

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Now this is the kind of rumor I like to read. A direct question asked of Shabs and his response. The responses seem plausible and I in no way can I call BS on this. Thanks for the post Easy. I would like to see any other posts from this person after he calls John.

actually i will be personally calling him today

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Bambino3 Newbie

Bambino3

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Easy - thanks for mentioning "Being There". It was Peter Seller's last film and it shows how great a performance can be when you play it down. And, did you notice....Shirley McClaine was spectacularly beautiful in it.

Don't get me started on movies. I actually have an Oscar (no lie - the real thing)

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umbertino Grand Master

umbertino

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Easy - thanks for mentioning "Being There". It was Peter Seller's last film and it shows how great a performance can be when you play it down. And, did you notice....Shirley McClaine was spectacularly beautiful in it.

Don't get me started on movies. I actually have an Oscar (no lie - the real thing)

I love Cinema myself......Please elaborate on that Oscar you have.... I'd like to hear more about it if you deem it possible.... Thanks.

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sheltiemom Newbie

sheltiemom

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The main indicator of an approaching RV will be continued inflation that they cannot control. This will be one in a number of economic factors which will drive the ultimate need for revaluation.

I'm confused. For the last year and a half, I've thought that uncontrolled inflation produced DE-valuations. What we want is little or no inflation for over a year (which is already the case) in order for the economy to be stable enough for the RV.

Did I miss something?

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sheik Newbie

sheik

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If this talk with Shabibi is true,my take is that we are a long way away from an RV. I don't mean a few weeks or a few months.Iraq is a mess. They are slower than molasses dripping from a maple tree in Vermont in January as to anything getting done. One would think there would be some urgency and organization. I see absolutely zero. Thus, my prediction is that we are a few years away from an RV.

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VanessaL4100 Newbie

VanessaL4100

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The cutting of the three zeroes should not be exaggerated as to what it does or does not mean.

This is what caught my eye......things that make you go hmmmm. :huh: everyone lately seems to be expecting it's going to lop. perhaps, *hopefully* we are wrong. just a thought. :) Stay encouraged, my friends!

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Roadrunner Newbie

Roadrunner

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If this talk with Shabibi is true,my take is that we are a long way away from an RV. I don't mean a few weeks or a few months.Iraq is a mess. They are slower than molasses dripping from a maple tree in Vermont in January as to anything getting done. One would think there would be some urgency and organization. I see absolutely zero. Thus, my prediction is that we are a few years away from an RV.

sheik. I agree that things move slow in Iraq. But, just so you will know; molasses doesn't have any thing to do with maple trees. Molasses is made by grinding sugar cane and boiling off the sorghum.

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