Newsletter from AC

[pokerplayer]

Had a look and did not see posted. Mods please delete if a duplicate

pp

It looks like the Central Bank of Iraq (CBI) has finally turned a

corner here in Baghdad. They have implemented something that they

have been wanting to do for the last several years but were unable

to due to hyper-inflation.

Today, the Central Bank of Iraq completed their daily auction and

closed with approximately 12.9 million dollars. This amount is

significantly lower than it has been in the past. We've seen it

reach peaks of over 100 million daily, just trying to keep the

Iraqi economy from collapsing. Currently in Iraq, the typical

Iraqi citizen has been using more U.S. dollars than their own

country currency and now all that is about to change with the help

of the Central Bank of Iraq. The CBI has implemented a new program

that is encouraging or quite possibly forcing, the banking system

to use Iraqi dinar currency instead of U.S. dollars. This tactic

makes purchasing foreign currency very expensive. Don't get me

wrong, It is still being allowed, but it will just cost a little

more than it has in past foreign currency transactions. In

addition, the CBI has started a tax on all foreign currency

transactions. I know this all to be factual because I, personally

have access to these formal documents and hold in my hand a copy of

the CBI memo that was issued to the Iraqi banking sector. It is

evident that the CBI is doing everything in it's power to make the

dinar stronger against the us dollar by instituting this tax. This

may explain why you see the foreign currency at 12.9 million

dollars daily and will for quite sometime. This action by the CBI

has taken a lot of Iraqi businessmen here by surprise as well as

the banking industry.

In my last post on 2 May, I mentioned that the Re-denomination

Revaluation report has been completed and is ready to be delivered

to Prime Minister, Nuri Maliki at his request. This information is

true. As crazy as this may sound to some, the CBI has to actually

wait for PM Maliki to request this report and make the time to

review it. The only question is "when", as this man has a tendency

to procrastinate and drag his feet. I am not going to speculate as

to when this will all be, but this week I will be getting a head's

-up from my business contacts in the banking sector and some

confirmation from other Iraqi business contacts.

Since I've been inundated with emails asking me this one question

I'd like to address it in my newsletter today. There are many out

there who claim to have contacts within or associated with the CBI

that give them information about what is going on here in Iraq.

Just for the record, here in Iraq, there are no Iraqi's that will

give you anything until he/she has either met you personally and/or

conducted some type of interaction in business. So, when you hear

people say or write that they have a CBI contact treat this with a

grain of salt, especially when they are not here in Baghdad.

Very few people currently hold the knowledge of the rate

projections of the iraqi dinar that is currency being reported from

the CBI. This is closed file, guarded information. Not to mention,

the reports were just recently published from the CBI. I have the

names of these reports and they are; Central Bank of Iraq Annual

Report 2009 and Monetary Policy Central Bank of Iraq Annual Report

2009. Both reports are chalk full of information and do give

projections of the Iraqi dinar currency rate straight from the CBI.

These reports are solely for Banking and Ministry officials. I was

able to obtain them due to my close contacts with banking

officials. Please don't let the mention of the year 2009 fool you

because this is the last year the CBI reported anything, they are

currently just completing the reports for 2010. Eventually, the CBI

will get to 2011 and 2012. I have scanned the cover of both

reports today and have included them in this newsletter.

For several years now, people have given inaccurate dates and rates

in regards to the Iraqi dinar and ALL have been 100% wrong each and

every time. I, can honestly say, that I have knowledge in regards

to the projected dinar currency rate as stated in the 2009 Monetary

Policy report. This information comes straight from the source. I

have no idea if it will all come true to fruition, but that is why

they are called projections. It's nice to know what the future CBI

plan is for the Iraqi dinar currency. That's all that I can

disclose at this current time. The dinar currency transition period

is expected to be for only 12 months. I will reveal more of what

is being reported in the monetary policy reports in upcoming

AC Newsletters.

------

Edited May 5, 2011 by Bumper64
upcoming News letters was added to finish the statement. Thanks PP for looking out!!

[eaglerod]

I would like to see the reports included in the newsletter!

[Rome M]

It looks like the Central Bank of Iraq (CBI) has finally turned a

corner here in Baghdad. They have implemented something that they

have been wanting to do for the last several years but were unable

to due to hyper-inflation.

------

WTH?! Iraq has HYPER-INFLATION??

Whatever, dumbass (to AC)

[pleasantvalleySunday]

xactly --- when was it that Iraq experience hyperinflation??

" I will reveal more of what is being reported in the monetary policy reports in upcoming."

oooo but those are the hooks that keep ya comin' back for more .....

consider me unhooked

[Shabibilicious]

"I will reveal more of what is reported in the monetary policy reports in upcoming"

In upcoming what? I hope he's okay. Maybe the powers that be cut him off?

[TAE]

Amer. Contractor says it's coming; "That's all that I can

disclose at this current time. The dinar currency transition period

is expected to be for only 12 months. I will reveal more of what

is being reported in the monetary policy reports in upcoming email newsletters"

Maybe the wait has to do with the 12 month transition period

Read more:

I would like to see the reports included in the newsletter!

That cut-off ending is the fault of the person who copied it over here. If you got the American Cont*actor email then you would have the whole thing.

Not sure why they are picking & choosing what to post.

"I will reveal more of what is reported in the monetary policy reports in upcoming"

In upcoming what? I hope he's okay. Maybe the powers that be cut him off?

Edited May 5, 2011 by TAE

[Papster]

Hyper Inflation?.........come on AC......it that all you can come up with?........are you sure your not really Iraqi Contractor?........good try.......GO DINAR

[Casper]

Forget about nit picking the hyper-inflation remark, how about the fact that he has access to those reports!!!!! Now, that's what I"M TALKING about!

Edited May 5, 2011 by Casper

[SMathews]

I agee with what you're saying. Let's focus on the positive's in the newsletter. In the past they had hyper-inflation, could've just been a typo, that's trivial.

Forget about nit picking the hyper-inflation remark, how about the fact that he has access to those reports!!!!! Now, that's what I"M TALKING about!

[Mya]

AC has been around for a very long time and has never been the one to proclaim date or rate. He was always straight forward and kept his cool. Last year he was one of the very few that said there would be no RV in 2010 and caught hell for it. He was correct. He has a +1 in my book.

[Dalite]

WTH?! Iraq has HYPER-INFLATION??

Whatever, dumbass (to AC)

According to Shabibi, the past documents of the CBI, as quoted by AC here as having been a desire to overcome the hyper inflation of "the last several years".

The terms have implemented something they have wanted to do introduce the past tense, which indicates it is not a current problem.

However, that trend could reverse itself.

If Maliki has 33 days before a vote of no confidence, his past performance shows a good possibility of him waiting 34 days to announce that he will start the review....

[Nani?]

AC has been around for a very long time and has never been the one to proclaim date or rate. He was always straight forward and kept his cool. Last year he was one of the very few that said there would be no RV in 2010 and caught hell for it. He was correct. He has a +1 in my book.

anyone could have said it would not rv in 2010 doesnt mean they have special sources... I just dont believe this guy he seems slippery.

[SMathews]

Took the words right out of my mouth. Thanks for clarifying that!

According to Shabibi, the past documents of the CBI, as quoted by AC here as having been a desire to overcome the hyper inflation of "the last several years".

The terms have implemented something they have wanted to do introduce the past tense, which indicates it is not a current problem.

However, that trend could reverse itself.

If Maliki has 33 days before a vote of no confidence, his past performance shows a good possibility of him waiting 34 days to announce that he will start the review....

Edited May 5, 2011 by SMathews

[Q77]

xactly --- when was it that Iraq experience hyperinflation??

" I will reveal more of what is being reported in the monetary policy reports in upcoming."

oooo but those are the hooks that keep ya comin' back for more .....

consider me unhooked

iraq had hyper inflation in the early years.....

[caz1104]

AC has been around for a very long time and has never been the one to proclaim date or rate. He was always straight forward and kept his cool. Last year he was one of the very few that said there would be no RV in 2010 and caught hell for it. He was correct. He has a +1 in my book.

Yes at times he has been grounded other times down right arrogant. But to be fair he has been consistant and his last couple of posts seems he's coming over from the darkside-lol...................................................GO RV 2011 BABY!!!!!

[lancer22]

thanks for posting PP.

[M.D.]

I agree with pleasantvalleySunday on this one

[Mylinco]

xactly --- when was it that Iraq experience hyperinflation??

" I will reveal more of what is being reported in the monetary policy reports in upcoming."

oooo but those are the hooks that keep ya comin' back for more .....

consider me unhooked

[Mylinco]

LOL!!! I love this site... So different from others.. See you still "Keepin it Real" PVS. That's the hook for me.

I try to just lurk but once in a while got to chime in cuz I appreciate you all. Especially you PVS. you are very grounded and your comebacks are respectful but not patronizing. Keep up the great work. Now where was I??? Oh yeah, lurking...