pokerplayer Posted May 5, 2011 Report Share Posted May 5, 2011 (edited) 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!! 15 3 Link to comment Share on other sites More sharing options...
eaglerod Posted May 5, 2011 Report Share Posted May 5, 2011 I would like to see the reports included in the newsletter! 2 Link to comment Share on other sites More sharing options...
Rome M Posted May 5, 2011 Report Share Posted May 5, 2011 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) 5 8 Link to comment Share on other sites More sharing options...
pleasantvalleySunday Posted May 5, 2011 Report Share Posted May 5, 2011 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 6 5 Link to comment Share on other sites More sharing options...
Shabibilicious Posted May 5, 2011 Report Share Posted May 5, 2011 "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? 1 1 Link to comment Share on other sites More sharing options...
TAE Posted May 5, 2011 Report Share Posted May 5, 2011 (edited) 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 6 1 Link to comment Share on other sites More sharing options...
Papster Posted May 5, 2011 Report Share Posted May 5, 2011 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 3 4 Link to comment Share on other sites More sharing options...
Casper Posted May 5, 2011 Report Share Posted May 5, 2011 (edited) 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 5 1 Link to comment Share on other sites More sharing options...
SMathews Posted May 5, 2011 Report Share Posted May 5, 2011 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! 3 1 Link to comment Share on other sites More sharing options...
Mya Posted May 5, 2011 Report Share Posted May 5, 2011 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. 11 1 Link to comment Share on other sites More sharing options...
Dalite Posted May 5, 2011 Report Share Posted May 5, 2011 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.... 3 Link to comment Share on other sites More sharing options...
Nani? Posted May 5, 2011 Report Share Posted May 5, 2011 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. 3 3 Link to comment Share on other sites More sharing options...
SMathews Posted May 5, 2011 Report Share Posted May 5, 2011 (edited) 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 3 Link to comment Share on other sites More sharing options...
Q77 Posted May 5, 2011 Report Share Posted May 5, 2011 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..... 3 Link to comment Share on other sites More sharing options...
caz1104 Posted May 5, 2011 Report Share Posted May 5, 2011 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!!!!! 1 Link to comment Share on other sites More sharing options...
lancer22 Posted May 5, 2011 Report Share Posted May 5, 2011 thanks for posting PP. Link to comment Share on other sites More sharing options...
M.D. Posted May 5, 2011 Report Share Posted May 5, 2011 I agree with pleasantvalleySunday on this one 1 Link to comment Share on other sites More sharing options...
Mylinco Posted May 5, 2011 Report Share Posted May 5, 2011 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 1 Link to comment Share on other sites More sharing options...
Mylinco Posted May 5, 2011 Report Share Posted May 5, 2011 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... Link to comment Share on other sites More sharing options...
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