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Kaperoni Chat - Saturday Night 10pm CST 10/22/2011 - DA Chat Room

ronscarpa

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ronscarpa Grand Master

ronscarpa

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Kaperoni Chat - Saturday Night 10pm CST 10/22/2011 - DA Chat Room

kaperoni: Tonight’s is a going to tie last nights chat with tonight World Bank report….

kaperoni: All quotes tonight are from the following…

kaperoni: World Bank Republic Of Iraq - Financial Sector Review

kaperoni: http://siteresources.worldbank.org/intmena/resources/financial_sector_review_english.pdf

kaperoni: I mentioned last night that I believe the RV is managed by the World Bank in conjunction with the IMF. I believe this as the World Bank is financing the banking reforms in Iraq, therefore they are supervising this entire project.

kaperoni: Let me lay this out for you…

kaperoni: First, the World Bank is a project-oriented bank. They help countries with specific projects; in return they supervise them to their completion. That being said...let’s create a timeline for the actual RV itself…

kaperoni: Here is a quote from his article pertaining to the overall project…this is good to see as they are expediting all of the reforms….

kaperoni: “there was strong agreement between participants in the discussions that the restructuring process has taken much more time than anticipated, and needed to be brought to a speedy conclusion.”

kaperoni: Yes they do!…business in Iraq is no good….look at this quote…

kaperoni: “Iraq also scores poorly in the World Bank’s “ease of Doing Business” Survey – 166 out of 183 globally”

kaperoni: That is crap!

kaperoni: And as stated when the World Bank was in Washington just a few weeks ago, they want these reforms to go forward without GOI interference…here is a quote…

kaperoni: “three conditions must be stressed. First, it is essential that the political will is confirmed to let the Cbi exercise banking supervision using its full powers under the laws and regulations, and its professional judgment without any interference.”

kaperoni: Now, I have stated that I feel the ISX (Iraqi Stock Exchange) is a key to this RV. Why?

kaperoni: Let me explain…

kaperoni: The ISX is the stock market for Iraq…and there are very well companies in this at the present time. I think there are about 60 companies or less on the ISX at the present time. That is not very good and going to be difficult to transition to a Free Market Economy unless they can get more..

kaperoni: Now this is how there going to do that…

kaperoni: Here is a quote…

kaperoni: “plans are also well advanced for the creation of custodian banks which will make it easier for foreigners (and large domestic investors) to trade while keeping the restrictions.”

kaperoni: Another…

kaperoni: “ISX is in an advanced stage of introducing the custodian bank system to its market. According to the Chairman, a major international bank is ready and is waiting for the necessary licenses to be granted. Others have also expressed interest in offering the service.”

kaperoni: We saw an article last night on this…they expect to implement this with a new law in November, 2011

kaperoni: Once they do, they can sell off some state owned companies to private investment and let them issue stock through the market building as the base.

kaperoni: This is how slow the market is….

kaperoni: “only one company listed on ISX in 2010 and five delisted. New admissions to listing are the lifeblood of any stock exchange. On that basis ISX is at a critical stage of its development. It is not clear why growth in listings has come to a halt.”

kaperoni: Once they get the Custodian bank going in Nov, they can auction these….

kaperoni: Quote...

kaperoni: “similarly, while the privatization of 296 state owned companies potentially opens up great opportunities”

kaperoni: You all see where I am going? This is the transition to the free market economy in which will support the dinar value.

kaperoni: Now we also know the ISX needs to get some laws updated. We discussed that a few weeks ago in a chat…here is a quote…

kaperoni: “A permanent Securities Law has been under discussion for several years. The government needs to urgently conclude these discussions, after also considering the recommendations contained in this report. The Law should then be presented to Parliament for speedy passage. Early passage of the Law is required to allow the Isc to enhance its role in developing capital markets.”

kaperoni: Ok, so when is all this going to be done and when is the RV?

kaperoni: Lets look at the WB charts….

kaperoni: “CBI: Implement public information campaign, on role of banking system, banking supervision and depositor protection; building confidence of public at large in the banking system, also the private banks start immediately, complete end 2011, including discussion with the industry and in parliament.”

kaperoni: That looks pretty clear to me that is what we have been reading and seeing for the past several months..and do you see the date? complete end 2011

kaperoni: Here is another interesting one…. No time frame…

kaperoni: “The CBI currently has staff of around 1600, down from approximately 2650. The governor intends to decrease the number of staff further, to around 500.”

kaperoni: Gee, looks to me they better get the show on the road?

kaperoni: Here is some more Dec deadlines….

kaperoni: By Dec 31st 2011

kaperoni: "level the playing field to create a vibrant competitive banking sector"

kaperoni: "allow private banks to deal with government departments and state-owned enterprises."

kaperoni: "implement the planned gradual increase in capital requirements for all banks, under the regulations issued by Cbi"

kaperoni: "update legislation and associated regulations"

kaperoni: "enact the permanent Securities Law including amendments proposed in this review including reinforcing the independence of the ISC."

kaperoni: Here is the best....

kaperoni: "accelerate the transit to a market economy"

kaperoni: "resolve the legal and practical issues around transferring ownership of companies from the state to private shareholders and move to the decision phase"

kaperoni: So Jan 2012 they are like a bullet out of a gun.

kaperoni: Done

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jeepguy Mentor

jeepguy

Posted
Posted

good post ron!! if the stock is getting ready too do it`s deal {trading} world wide trading ,, then the instrument in dinar land ,, needs a rate and value of dinar ,, with the pull out of troops { u s } the lifting of chapter7 in december looks good { i m o } question -----> can the c b i revalue the dinar at this moment while in chapter 7 ?? i think i remeber chatter about them being able too r v when one of three things are finished 1 chapter 7, 2 erbil , 3 hehehe i for got what three was ,,, :blink:

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Bobbydee Newbie

Bobbydee

Posted
Posted (edited)

Thanks Ron for the great post. It's just another good step in the right direction. It may take them a little longer to get things done but eventually things will fall into place and we will see our elusive RV. I still believe it will come out low and float up. No matter I'm in it for the long hall and certainly appreciate all you do for us here at DV. God Bless Semper Fi :tiphat:

Edited by Bobbydee
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gotyourback Newbie

gotyourback

Posted
Posted

Kaperoni Chat Saturday Night 10pm CST 2011 DinarAlert Chat 10/22/11

10/23/2011

kaperoni: Tonight’s is a going to tie last nights chat with tonight World Bank report….

kaperoni: All quotes tonight are from the following…

kaperoni: World Bank Republic Of Iraq - Financial Sector Review

kaperoni: http://siteresources.worldbank.org/intmena/resources/financial_sector_review_english.pdf

kaperoni: I mentioned last night that I believe the RV is managed by the World Bank in conjunction with the IMF. I believe this as the World Bank is financing the banking reforms in Iraq, therefore they are supervising this entire project.

kaperoni: Let me lay this out for you…

kaperoni: First, the World Bank is a project-oriented bank. They help countries with specific projects; in return they supervise them to their completion. That being said...let’s create a timeline for the actual RV itself…

Read More Link on Right

kaperoni: Here is a quote from his article pertaining to the overall project…this is good to see as they are expediting all of the reforms….

kaperoni: “there was strong agreement between participants in the discussions that the restructuring process has taken much more time than anticipated, and needed to be brought to a speedy conclusion.”

kaperoni: Yes they do!…business in Iraq is no good….look at this quote…

kaperoni: “Iraq also scores poorly in the World Bank’s “ease of Doing Business” Survey – 166 out of 183 globally”

kaperoni: That is crap!

kaperoni: And as stated when the World Bank was in Washington just a few weeks ago, they want these reforms to go forward without GOI interference…here is a quote…

kaperoni: “three conditions must be stressed. First, it is essential that the political will is confirmed to let the Cbi exercise banking supervision using its full powers under the laws and regulations, and its professional judgment without any interference.”

kaperoni: Now, I have stated that I feel the ISX (Iraqi Stock Exchange) is a key to this RV. Why?

kaperoni: Let me explain…

kaperoni: The ISX is the stock market for Iraq…and there are very well companies in this at the present time. I think there are about 60 companies or less on the ISX at the present time. That is not very good and going to be difficult to transition to a Free Market Economy unless they can get more..

kaperoni: Now this is how there going to do that…

kaperoni: Here is a quote…

kaperoni: “plans are also well advanced for the creation of custodian banks which will make it easier for foreigners (and large domestic investors) to trade while keeping the restrictions.”

kaperoni: Another…

kaperoni: “ISX is in an advanced stage of introducing the custodian bank system to its market. According to the Chairman, a major international bank is ready and is waiting for the necessary licenses to be granted. Others have also expressed interest in offering the service.”

kaperoni: We saw an article last night on this…they expect to implement this with a new law in November, 2011

kaperoni: Once they do, they can sell off some state owned companies to private investment and let them issue stock through the market building as the base.

kaperoni: This is how slow the market is….

kaperoni: “only one company listed on ISX in 2010 and five delisted. New admissions to listing are the lifeblood of any stock exchange. On that basis ISX is at a critical stage of its development. It is not clear why growth in listings has come to a halt.”

kaperoni: Once they get the Custodian bank going in Nov, they can auction these….

kaperoni: Quote...

kaperoni: “similarly, while the privatization of 296 state owned companies potentially opens up great opportunities”

kaperoni: You all see where I am going? This is the transition to the free market economy in which will support the dinar value.

kaperoni: Now we also know the ISX needs to get some laws updated. We discussed that a few weeks ago in a chat…here is a quote…

kaperoni: “A permanent Securities Law has been under discussion for several years. The government needs to urgently conclude these discussions, after also considering the recommendations contained in this report. The Law should then be presented to Parliament for speedy passage. Early passage of the Law is required to allow the Isc to enhance its role in developing capital markets.”

kaperoni: Ok, so when is all this going to be done and when is the RV?

kaperoni: Lets look at the WB charts….

kaperoni: “CBI: Implement public information campaign, on role of banking system, banking supervision and depositor protection; building confidence of public at large in the banking system, also the private banks start immediately, complete end 2011, including discussion with the industry and in parliament.”

kaperoni: That looks pretty clear to me that is what we have been reading and seeing for the past several months..and do you see the date? complete end 2011

kaperoni: Here is another interesting one…. No time frame…

kaperoni: “The CBI currently has staff of around 1600, down from approximately 2650. The governor intends to decrease the number of staff further, to around 500.”

kaperoni: Gee, looks to me they better get the show on the road?

kaperoni: Here is some more Dec deadlines….

kaperoni: By Dec 31st 2011

kaperoni: "level the playing field to create a vibrant competitive banking sector"

kaperoni: "allow private banks to deal with government departments and state-owned enterprises."

kaperoni: "implement the planned gradual increase in capital requirements for all banks, under the regulations issued by Cbi"

kaperoni: "update legislation and associated regulations"

kaperoni: "enact the permanent Securities Law including amendments proposed in this review including reinforcing the independence of the ISC."

kaperoni: Here is the best....

kaperoni: "accelerate the transit to a market economy"

kaperoni: "resolve the legal and practical issues around transferring ownership of companies from the state to private shareholders and move to the decision phase"

kaperoni: So Jan 2012 they are like a bullet out of a gun.

kaperoni: Done

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Carrello Rising Star

Carrello

Posted
Posted (edited)

like..??? please explain.

World Bank requirements and others surfaced during the infamous NYC trip and the UN visit. Kaperoni includes what needs to be completed, and hopefully has been being worked on in the past month. Kaperoni's comments reference what needs to be done:

kaperoni: Here is a quote from his article pertaining to the overall project…this is good to see as they are expediting all of the reforms….

kaperoni: “there was strong agreement between participants in the discussions that the restructuring process ]has taken much more time than anticipated, and needed to be brought to a speedy conclusion.”

kaperoni: “Iraq also scores poorly in the World Bank’s “ease of Doing Business” Survey – 166 out of 183 globally”

kaperoni: The ISX is the stock market for Iraq…and there are very well companies in this at the present time. I think there are about 60 companies or less on the ISX at the present time. That is not very good and going to be difficult to transition to a Free Market Economy unless they can get more..

kaperoni: “plans are also well advanced for the creation of custodian banks which will make it easier for foreigners (and large domestic investors) to trade while keeping the restrictions.”

kaperoni: “ISX is in an advanced stage of introducing the custodian bank system to its market. According to the Chairman, a major international bank is ready and is waiting for the necessary licenses to be granted. Others have also expressed interest in offering the service.”

kaperoni: We saw an article last night on this…they expect to implement this with a new law in November, 2011

kaperoni: Once they do, they can sell off some state owned companies to private investment and let them issue stock through the market building as the base.

kaperoni: “only one company listed on ISX in 2010 and five delisted. New admissions to listing are the lifeblood of any stock exchange. On that basis ISX is at a critical stage of its development. It is not clear why growth in listings has come to a halt.”

kaperoni: Once they get the Custodian bank going in Nov, they can auction these….

kaperoni: Now we also know the ISX needs to get some laws updated. We discussed that a few weeks ago in a chat…here is a quote…

kaperoni: “A permanent Securities Law has been under discussion for several years. The government needs to urgently conclude these discussions, after also considering the recommendations contained in this report. The Law should then be presented to Parliament for speedy passage. Early passage of the Law is required to allow the Isc to enhance its role in developing capital markets.”

kaperoni: Ok, so when is all this going to be done and when is the RV?

kaperoni: Lets look at the WB charts….

kaperoni: “The CBI currently has staff of around 1600, down from approximately 2650. The governor intends to decrease the number of staff further, to around 500.”

kaperoni: Here is some more Dec deadlines….

kaperoni: By Dec 31st 2011

kaperoni: "level the playing field to create a vibrant competitive banking sector"

kaperoni: "allow private banks to deal with government departments and state-owned enterprises."

kaperoni: "implement the planned gradual increase in capital requirements for all banks, under the regulations issued by Cbi"

kaperoni: "update legislation and associated regulations"

kaperoni: "enact the permanent Securities Law including amendments proposed in this review including reinforcing the independence of the ISC."

kaperoni: Here is the best....

kaperoni: "accelerate the transit to a market economy"

kaperoni: "resolve the legal and practical issues around transferring ownership of companies from the state to private shareholders and move to the decision phase"

Edited by Carrello
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