Kaperoni's Chat 11/9/2011 from DA

[LouG]

kaperoni: Today’s chat is from my Arabic translator friend. This chat is very compelling because it gives us an “inside” look at what is really going on in regards to the CBI’s efforts to move forward with the “delete 3 zeros” event.

kaperoni: My Arabic translator looked at the following article and subsequent audio recording. This information details the events in recent weeks between Parliament and the CBI. The frustration, the discussions and the political bureaucracy slowing down this event.

kaperoni: DinarAlert is the only “fact” only based intel site. You are going to get the truth, and the reality of this investment. You also now know, that all the rumors are in fact, just that…that these “daily RV claims” are without merit.

kaperoni: Let’s get started…

kaperoni: Tonight’s information is based on this article first, then my translator discusses the subsequent audio interview/recording posted alongside the article…

kaperoni: Expert calls for a "real revolution" to change the economic laws - 8.11.2011 http://www.iraqhurr.org/content/article/24384630.html

kaperoni: These are his words...

kaperoni: Hey Kap, Just took a look at the article and listened to the audio, and it all seems to be similar to what we've seen before. The new piece of information is stating that the draft bill to remove the 3 zeros from the currency was submitted by the CBI to both Parliament and the GOI for approval. The CBI states that, of approved, it would take them about 1 year to full transition from the old bills to the new bills.

The article talks about the same disputes back and for of why the change of removing the 3 zeros is necessary and beneficial to the Iraqi Economy in terms of monetary cash availability, decreased inflation, and increased purchasing power. The article states that CBI completed an advanced study for the 3 zeros project and included all that information with the Draft Bill that they sent to Parliament and the GOI.

However, the article states that there are still representatives that are unconvinced that the 3 zero removals would be beneficial and state that it would be better to wait for times of greater economic and political stability in the country to consider the project. The CBI and the author of the article state that these are just representatives that have their own political agenda and are opposed to the project for other personal reasons and are hiding behind that argument to gain certain benefits of not removing the 3 zeros.

The article talks about Representative Najiba Najb, who seems to be the head of the Parliamentary Finance Committee, and states that she is not convinced that the project is appropriate and that other things could be done by the CBI to stabilize the Iraqi economy and help to bring increased value to the Dinar, such as more investment projects, etc and she feels that the removal of the 3 zeros is unnecessary. Moreover, she states that she is not sure if Parliament will even get to discussing the bill this year due to their preoccupation with formulating the 2012 Budget.

The only other thing in the article states that there are many economic experts and advisors that back up the CBI in their vision for the removal of the 3 zeros and argue that those that are opposed to the project are simply not well versed in the workings of economics and have many unfounded concerns and that they, as well as CBI, assure the people that this is not a change to be feared and that it won't have a major effect on their daily lives, other than positive benefits to the economy. In the audio, they interviewed Najiba and she states that she is requesting a new study to be executed by the CBI to be presented to the Finance Council regarding the benefits of removing the 3 zeros and she states that the Finance Council is concerned that the CBI is wrong in their position and that removing the 3 zeros would lead to an increase in the inflation rate from 7% to 14% and so she is not convinced that CBI is acting appropriately.

Saleh's rebuttal to her remarks was that the Finance Council is completely ignorant in the workings of the Iraqi economy and that CBI understands that this is the best option for the country and does not see the need for a new study again because they have already conducted many regarding the feasibility of the removal of the 3 zeros.

As the interview continued, Saleh sounded very irritated and aggravated and said that CBI was hoping to get the approval on the draft law because this is a concern that involves the economic affairs of the country and the GOI, and that's why they wanted to have everyone on board for the project.

A key piece in the audio was when Saleh addressed the deterioration of the value of the Dinar, discussing how 25 Dinar used to be worth well over $75 US Dollars (Meaning a Rate of $3+ Dollars) and now it is practically worth nothing and that is not good for economic development (which is what we've known all along and have been hopeful to hear someone state it in that manner) and that the removal of the 3 zeros would help to bring greater value to the Dinar.

The economic expert that was backing up CBI's position stated that it would be beneficial for all the reasons we know and it would reduce the Iraqi money supply for 27 Trillion Dinars to just about 15 Million Dinars, which is a massive reduction and would indicate greater value and purchasing power.

The audio goes back to Najiba and she states (as I said earlier) that she didn't think there was any chance of this bill being passed or even considered in 2011 because too many parliamentary representatives were scared of the potential negative consequences (especially those of counterfeiting the currency) of removing the 3 zeros and just don't want to deal with this highly contested issue at this time because they are busy working on the 2012 Budget and after they get that done, there will be a vacation break for Parliament (As if they haven't already had enough vacations for doing NOTHING!!)

The audio flips back to that economic expert and he again stresses that their fears are unfounded, etc. He goes on to say that he has studied the new currency in detail with the CBI and assures people that there were many problems with the development of the 2003 currency that lead to it being easily counterfeited and that the decreased value and massive availability and size of the money supply made it easy for people to counterfeit the 2003 currency but that the new currency has the latest technology and safeguards and that it is printed by foreign companies and would not have any issues with counterfeiting and such.

The end of the audio interviews regular Iraq citizens and they voice their concerns about prices going up after the removal of the 3 zeros and voices concerns about how the new currency would work and about equivalency factors with debts (So if someone owes a debt of 200,000 Dinars or whatever, what would that change to after removing the 3 zeros, and other such concerns).

My opinion on this is that, if all this conversation and fanfare is to be believed (as this could all be smoke and mirrors since we have seen hundreds of previous articles saying the same thing and that the bill was sent to Parliament and Saleh has re-stated the same things millions of times before) then it clearly shows the disparity and ignorance that is rampant in the GOI. For the head of the Finance Committee to come out and say that removing the 3 zeros would INCREASE inflation and that it would be bad for the country??? Where did she study economic exactly and how is she the head of the finance committee? Moreover, and this is even more troubling, is the fact that it is clear that CBI has been completely ineffective in educating not only their own GOI and Iraqi Parliament members about the true nature of the 3 zeros project, but in educating the people as well.

They aren't going to convince anybody with just having Saleh do radio interviews and press statements every few weeks. They need to go into Parliament, doing some kind of logical explanation in front of all the Parliament members, and explain to them how economics works and how the 3 zeros project would work and address any concerns that they may have and give them concrete explanations.

It is almost like giving someone a book written in Greek to read when you know that they can't read Greek, yet you force them to take the book anyway. I don't know why CBI is even bothering to get anyone's approval, because with the situation that they are facing in the Iraqi Parliament, it is clear that these representatives have no clear understanding of the basic workings of an economic system and are going on incorrect folklore and popular street understandings that are completely incorrect and that they need someone to come in and explain it to them step by step.

They should have just gone ahead and done this long ago, and I am sure that Shabibbi is kicking himself to high hell for not acting on this long ago when they have such incompetent people in Parliament. So, in the end, it is positive that CBI is trying to go ahead with the bill but highly disturbing that these are the people that they are trying to get approval from. If it is true that they must get approval from Parliament before changing the currency/increasing the rate, I am sad to say that we may be waiting for a long while based on the discussions and positions coming out of the Iraqi Parliament.

Done

Edited November 10, 2011 by LouG

[sonny1]

i usually like what kaperoni says, he is very smart in my book, but his opinion is way off here, if the bill is there it will be voted on and put into law fairly quick, but his translator was explaining a lop to him, i think he needs to take some time off and come at when new news comes out, all he has been going over lately is recycled news from the last 4 months or so, and lets face it, they are telling us it is going to lop. i just dont get how people come on the net now and say how deleting 3 zeros then raising value is an rv, i am not saying they will do this though, i just dont get how some can mis-read everything that comes out.......they are telling us they will lop. i dont believe they will lop, but dont try to sell a lop (more like 90) article as an rv article. i do and always read kaps chats, he is the only one i will read, but i think he needs to take a breather...... i believe they will rv my guess is somewhere in the .10 range, but they are selling us a lop with every article they put out.....

[TonyDownTheShore]

I still think they're trying to throw us off track, all smoke and mirrors.

Thanks for the post

[Canuklady]

This ride just gets more confusing by the minute, and I guess that's the point of all these delete the zeros articles. I don't know as much as many of you here, but it just seems to me like if they wanted to RD, they could have done this a long time ago. Tony couldn't figure out why someone gave you a neg. Evened you out. Going to bed now. I'm exhausted and can't wait for this ride to be over. My hat is off to anyone who has stuck this out 8 years. Go RV already! I am re-reading Adam's chat before bed to end a long day on a positive note...

[brandedbabe]

i usually like what kaperoni says, he is very smart in my book, but his opinion is way off here, if the bill is there it will be voted on and put into law fairly quick, but his translator was explaining a lop to him, i think he needs to take some time off and come at when new news comes out, all he has been going over lately is recycled news from the last 4 months or so, and lets face it, they are telling us it is going to lop. i just dont get how people come on the net now and say how deleting 3 zeros then raising value is an rv, i am not saying they will do this though, i just dont get how some can mis-read everything that comes out.......they are telling us they will lop. i dont believe they will lop, but dont try to sell a lop (more like 90) article as an rv article. i do and always read kaps chats, he is the only one i will read, but i think he needs to take a breather...... i believe they will rv my guess is somewhere in the .10 range, but they are selling us a lop with every article they put out.....

I read all this as a lop also even though I believe different one thing is for sure....holidays are looming and the amount of people selling some or all of their dinar is become relavant....so I guess if this is a tactic used to get people out it is working.

I don't see why the CBI is pulling in physical dinar only to RD/LOP.

I don't believe the printing of 27 trillion is true unless that was the amount they guesstimated was held to transition from the dinar with Saddam picture on it to the new that we all hold.

Being transparent to us speculators is not what the UN had in mind and all the world bank figures we have read could have been changed to curb speculation.

I'm in this to the end....it has been too long a road to not see it through!!!

Thanks Sonny1....I have followed you for the last 3 years...

[LouG]

I don't see anything in there that refers to LOP. A reduction in currency is the result of the collection of 3 zero notes as i understand it. In fact, he states "that the removal of the 3 zeros would help to bring greater value to the Dinar." A LOP is a devaluation of the dinar. I think this was more of an article to give everyone an idea of what kind of people are over in iraq.

Edited November 10, 2011 by LouG

[Francie26]

Thanks, Sonny1. I agree that this is not how it will play out. Thanks for your comments. I appreciate them, and like you, I have liked Kaperoni for quite a while, but I think he's wrong on this report.

[annstyle]

I believe this thing is going to RV and I think it will be soon!

My future is so bright I've got to ware glasses!! B)

Come on RV and bust it wide open!!!!!!!!

IMO

[pocono]

I still think they're trying to throw us off track, all smoke and mirrors.

Thanks for the post

Please consider this an honest question and in no way meant to demean your position...my question is simply why would Shabibi or anyone in Iraq be concerned enough about us to go to these extremes to throw us off track? The articles I believe are for domestic consumption and we pick them apart,translate them into english and often times dismiss them as smoke and mirrors..

[lancer22]

Thx LouG for posting Kaps chat. I, like S1 only read a small select group of postings. This article is more smoke and mirrors than fact. It insinuates a LOP which is highly unlikely. Confusion and ignorance in Parliament is rampant. This democracy thing is brand new to them and they really do not know what the heck to do other than take some time off... they will learn and sort thru this.

Thanks Sonny1 & Kap

[Captjohn]

Shabibi may well rue the day (if he hasn't already) that he decided to go to parliament for approval of the 3 zeros program. This may be all smoke, but if not, it is a sad commentary on the incompetence of the GOI.

[truthful1]

i usually like what kaperoni says, he is very smart in my book, but his opinion is way off here, if the bill is there it will be voted on and put into law fairly quick, but his translator was explaining a lop to him, i think he needs to take some time off and come at when new news comes out, all he has been going over lately is recycled news from the last 4 months or so, and lets face it, they are telling us it is going to lop. i just dont get how people come on the net now and say how deleting 3 zeros then raising value is an rv, i am not saying they will do this though, i just dont get how some can mis-read everything that comes out.......they are telling us they will lop. i dont believe they will lop, but dont try to sell a lop (more like 90) article as an rv article. i do and always read kaps chats, he is the only one i will read, but i think he needs to take a breather...... i believe they will rv my guess is somewhere in the .10 range, but they are selling us a lop with every article they put out.....

You are 100% right on the money sonny1.

[Off-the-grid]

I just had a thought: What if the council members and GOI don't really understand what an RV will do because Shabibi doesn't dare tell them about changing the exchange rate overnite (RV) for security reasons?? You know several of these politicos would immediately blab all the details. SO, I wonder if they have all been led to believe he is planning to LOP, so they really do question why this will help.

I am suggesting that Shabibi needs their approval for the change, but can't really explain the full plan to them in order to fulfill the need for secrecy. If that is the case, I hope he realizes this folly and pulls the trigger without them.

I admit that I agree with those on these sites who argue that a LOP will do little to help Iraq's situation, even one followed by a modest RV. But it makes sense to me that Shabibi cannot disclose too much about an RV.

What do you think?

Peace and Prosperity

Edited November 10, 2011 by Off-the-grid

[steveflex7]

I just had a thought: What if the council members and GOI don't really understand what an RV will do because Shabibi doesn't dare tell them about changing the exchange rate overnite (RV) for security reasons?? You know several of these politicos would immediately blab all the details. SO, I wonder if they have all been led to believe he is planning to LOP, so they really do question why this will help.

I am suggesting that Shabibi needs their approval for the change, but can't really explain the full plan to them in order to fulfill the need for secrecy. If that is the case, I hope he realizes this folly and pulls the trigger without them.

I admit that I agree with those on these sites who argue that a LOP will do little to help Iraq's situation, even one followed by a modest RV. But it makes sense to me that Shabibi cannot disclose too much about an RV.

What do you think?

Peace and Prosperity

Thats a possibility. At this point whonthe he'll knows who's telling the truth and who's bluffing. I'm not worried. I know that this RV will happen, and all this bs and misinformation is part of it. Just gotta sit tight and believe.

[Mammaw]

(So if someone owes a debt of 200,000 Dinars or whatever, what would that change to after removing the 3 zeros, and other such concerns).

Interesting. I hadn't ever thought of that aspect of this Lop. I can see how that might confuse the matter. Hope that is enough to prevent it.

[hi-five]

Can anyone explain why they are worried about counterfeiting if they were going to lop?