Scooter: The critical step

[TonyDownTheShore]

Enjoy

SCOOTER POST: THE CRITICAL STEP!!!!

Hi folks,

I know there's been lots of discussion of an immediate move by the CBI and the government of Iraq. However, in my opinion, this step is abundantly critical before any RV occurs. Please read this page of the World Bank's recent assessment and I'll let you decide for yourself.

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[coolbeans]

Enjoy

No thanks.

We have anews section right here.

[kjwayne]

Thanks for bringing it to us TONY. Any news from Scooter is welcomed.

[TFK]

No thanks.

We have anews section right here.

Then just sit on your bony little fingers and don't read it Scrooge, or should I say troll.

[caz1104]

Enjoy

Thanks TDS for the post,always an interesting and informative read.

[Lorre]

Very informative!!! Thanks Tony!!!

[leanonme]

What I got out of it is because of the week private banking sector Iraq is not ready for the RV.

[Retiredofficer]

Can't go wrong with Scoot! Straight up & unbias research. Thanks for post.

R.O.

[only 1-25k dinar]

What I got out of it is because of the week private banking sector Iraq is not ready for the RV.

That's the same thing I got too....

[tim5400]

Who is in control of these 2 banks?....Is it Shabibi...if it is you would think he would have a handle on THAT situation....if it is not Shabibi....and 1 of Malikis cronies is in charge IMO these banks will never get straightened out for sometime....JMO

[RodandStaff]

Thanks for the post Tony... always love some Scooter, don't always understand him (you know, those "my brain is so full it hurts moments"), but always love what he brings to the table.

GO RV Already Baby!!!

[hoosier1470]

Thanks for the post....always enjoy scooters take on things! As far as the banks, is this info that is being released actually reliable, or just more bs coming out? I just dont see Shabbs allowing the banking sector to be in this condition after all of the effort put in place to put his "plans" into effect! He is a smart man, too smart to allow us to know what is truely going on! I for one dont believe the numbers, or that the condition of the two major banks are in such disaray. JMO! Go RV....Jan 1, 2012!

[Carrello]

Several months back, I believe in September or October,the World Bank made detailed recommendations to CBI on how to improve and complete their banking system. The GOI has been passing laws in order to bring about those changes. Until the revisions and put into law and implemented, CBI will not be ready to RV. IMO, this is a critical part of what we are looking for. Many of the laws have been passed, but I do not know where we stand on all of the "recommendations."

[joseroque]

I had gone into the Iraq website a few days ago and read what was just posted here. It does not address the RV at all nor does it say there can be no RV until these banks problems have been solved. These are two different issues, the banks problems and the RV. DR. Shabibi does not have to take into consideration any banks internal problems. When he RV's the dinar, it will be for the benefit of the people of Iraq, not for the benefit of any bank. Why post this then? Smoke and mirrors!

[Captjohn]

Thanks once again to Scooter for straight-up info. Sounds like the 10X reduction in capital should be in aid of something. I'm just not sure at this point (Dec 30th) that they will get their act together to RV before the end of the year (tomorrow). They have never seen a deadline so far that they haven't thumbed their collective noses at, so why start now. And, of course, the world will forgive them, yet again. So on we go into 2012, for more of same?

[Carrello]

I had gone into the Iraq website a few days ago and read what was just posted here. It does not address the RV at all nor does it say there can be no RV until these banks problems have been solved. These are two different issues, the banks problems and the RV. DR. Shabibi does not have to take into consideration any banks internal problems. When he RV's the dinar, it will be for the benefit of the people of Iraq, not for the benefit of any bank. Why post this then? Smoke and mirrors!

Jose, you are incorrect. The government banks need to be in order, according to the UN and the World Bank, prior to an RV to be in compliance with their ethos. Iraq could RV, but life would not be pretty. The World Bank has published a document that outlines specifically the changes that CBI needs to make happen to the banking system, and two government banks in particular, Rasheed and R....... It is too late to do tonight, but I will link the document tomorrow. There are several news articles that I posted tonight that address revisions that CBI has made; Smart cards used for government salary payments and revisions made to banks, along with a link to the WB document.

I hope this makes sense, I am tired. Good night!