DinarUpdates.com Late Nite Chat w/BGG 7-18-15

Welcome to dinarupdates.com for Late Nite Chat with BGG!!

subgirl:
BGG can you explain that part to us? Just a little confused??? Millionday: IRAQI MARKET IS NOW OPEN TO WORLD MARKETS

subgirl:
how can Iraqi be opened to world market and not have a rate????

subgirl:
that is confusing to us?? ({)

BGG: gimme a min...

subgirl:
ok thanks

BGG:
"THE WARNING GIVEN TODAY WAS TO HURRY TO ACTIVATE POLICIES SO THE DINAR DOES NOT LOSE ITS VALUE ---"

BGG:
Is - I think what she's saying...

subgirl:
it does not have a value right now!??

subgirl:
is Iraqi opened to world market now? or is that a warning for Iraq?

sassy:
BGG but we know the word hurry is not in the Iraqi vocabulary

Holly1:
Subs . I think they need international for any rate ... they may be in the works for all that ({)

BGG:
It appears the point is - them being more open - without correct fiscal policy in place puts their currency at grave risk (is the take-away I'm getting)??

sassy:
subby without value they can not be in the world market

BGG:
this "world market" comment is being taken all wrong...

Holly1:
And I agree BGG

MGM:
What if they use $$$ or Euros?

subgirl:
so they need to have the fiscal policy in place before their currency goes down.

sassy:
BGG it was put out there wrong

sassy:
MGM they need their own currency to participate

BGG:
with the whole Middle East opening up (right now)... more freedom of economic and capitol movement - they (the economists) are pointing out their currency will be vulnerable without proper measures.

BGG:
and - of course - it is...

sassy:
BGG Talk is cheap. Till they put it in motion it is a mute (moot) point

sassy:
BGG correct

BGG:
"the Central Bank not clear this aspect and it should develop mechanisms to ensure the protection of the Iraqi currency vulnerable to currencies to maintain their strength..." <<<<<<<<<<<< their comment.

BGG:
"Recall that the Iraqi currency to suffer from significant deterioration in value against foreign currencies, namely the us dollar./..." <<<<<<<<< Again, their comment...

sassy:
BGG They have to know it. They need to put it in motion

BGG:
and I suspect MD is commenting in a "proverbial sense" the CBI KNOWS what pricing (maybe) they want... they know where they want to go (or we would like to think this is their "inner conflict")... NOT THAT THEY HAVE, in a LITERAL FASHION.

BGG:
anyone having followed this can refer to the SIGR report or the MoF documents portraying as much... they have a "shadow pricing" that they refer to as their "real value"... (the GOI - that is...)

sassy:
BGG We have to be more careful how it is put out there. Iraq being in the world market is wrong. They are not.

Holly1:
Subs .. I have no clue .. to answer on this subject ... I am best bringin in news ONLY...... (F)

BGG:
OK - let's look at your comment - where do they sell oil???

BGG:
at home or abroad???

BGG:
I'm simply asking the ??

BGG:
where do they sell their OIL???

sassy:
In the market but for us dollars

BGG:
Correct. In the WORLD MARKET for USD (petro-dollars)

BGG:
which is obviously not Iraqi domestic... so Iraq is (on some level) international...

BGG:
which is where they are headed - and are pointing out the obvious need for currency reform...

BGG:
it's an exciting OP ED piece.

sassy:
But not recognized by the the world as international. Not in their currency

sassy:
BGG I agree completely

BGG:
you're using a very narrow definition... of "international acceptance"... and relating directly and only to their currency...

sassy:
BGG I was just pointing out we need to watch how it is worded

sassy:
BGG dang right lol All I care about is their currency lol

BGG:
for all practical purposes they are dealing on an international level - and the point is - their own economist and the WB, IMF, etc, etc, etc... want them to start playing ball like big kids - instead of a bunch of spoiled brat, crooked babies...

sassy:
BGG me too

BGG:
I get exactly what you were saying - and I am pointing out a broader perspective.

BGG:
there is a big picture to that article... and it is legit...

BGG:
does it mean "our side" will win the final argument - I do not know - I am hopeful... but this is why we are invested. To be prepared...

BGG:
and respectfully - to you - I disagree...

sassy:
BGG Thanks for putting up with me lol

BGG:
in fact, I think I have given some very clear commentary on the matter.

sheila3:
the article was right, we didn't understand it...

sassy:
BGG yes you have

BGG says to sassy:
protect is not accurate - I defended a clear position... the actual article - itself...

BGG:
against this notion their "currency is live"... that was not the point...

sassy:
BGG I understand

CanTWaitwoRV:
Good stuff BGG. I agree talk is cheap HOWEVER I've never heard them talk like this on a global scale the urgency pressure at hand

CanTWaitwoRV:
bunch of demonstrations today in Iraq and surrounding areas

BGG:
forget about it all for a sec ....

sassy:
I love a good discussion

BGG says to CanTWaitwoRV:
and get this thought DEEP DOWN...

BGG says to CanTWaitwoRV:
THEY ARE TALKING CURRENCY REFORM EVERY DAY - HOLY #$%^!!

BGG says to CanTWaitwoRV:
Right?!?

sassy says:
BGG everyday

mary says to BGG:
(handshake)

BGG says to CanTWaitwoRV:
whatever the number - whatever the date... whatever the mechanism...

BGG says to CanTWaitwoRV:
they are talking about it everyday...

BGG says to CanTWaitwoRV:
and the point is - the Iranian Central Bank came out and said NO WAY immediately... IMMEDIATELY - the next morning...

CanTWaitwoRV says to BGG:
I agree! Everyday...repetitive focus on MR...quite a shift

subgirl says:
I think the parliament meets behind closed doors and we do not even know it.... They are speaking of it daily!!!

BGG says to CanTWaitwoRV:
Iraq is a hot bed of activity right now.

CanTWaitwoRV says to BGG:
for sure...Citizens revolt during EID...didn't expect that

sassy says:
BGG when does parliament meet again??

BGG says to subgirl:
I think the Finance Committee and the Economic Committee's are FUMING...

sassy says:
Cant I am surprised about that

BGG says to subgirl:
I think this next few days (politically) will be very, very exciting...

subgirl says:
Yep I think your correct!!!! The citizens ought to be fuming too!!!

BGG says to subgirl:
they are sick of the CBI running over them.

CanTWaitwoRV says to sassy:
yea I can't much blame them but I was thinking mid august like they said but I guess no electricity will do it

subgirl says to CanTWaitwoRV:
I would be very upset too over no electricity!!! UGH

BGG says:
and while Shabibi fully embraced the "Autonomy" of the CBI - he also fully understood the need to educate, inform and have the support of the GOI...

BGG says:
he was plain on those points...

BGG says:
IT IS THEIR COUNTRY.

CanTWaitwoRV says to sassy:
and now it's in their papers 300 billion was stolen from the citizens instead of providing electricity during the Maliki years...jeez..the citizens know that now also

CanTWaitwoRV says to sassy:
40 billion give or take on avg per year stolen

BGG says:
this GOI is about done getting pushed around from behind (by Iran, ALAK, Maliki...)

CanTWaitwoRV says to sassy:
and Abadi is about 1 year into his term...so he's on the clock and it's winding down imo

sassy says:
Cant can you imagine having that thrown in your face. Time for Iraqi's to stand up and be heard

subgirl says to CanTWaitwoRV:
I would throw a hissy fit too!!! UGH!!! Go tell them citizens!!!

BGG says to sassy:
Huge demonstrations going on right now...

BGG says to sassy:
they are HOT...

CanTWaitwoRV says to subgirl:
yea they tend to do more than just talk over there when they riot

Holly1 says to sassy:
the people are being heard .....

BGG says to sassy:
and for now it's about electricity - but they (the people) just got over their Dinar Panic... they will remember shortly..

BGG says to sassy:
(lol)

sassy says:
Well it is now or never to see what this Government can do in this session

BGG says to sassy:
Your lips to Abadi's ears...

sassy says:
BGG if only he could hear me now :P

CanTWaitwoRV says to subgirl:
I think it's reaching a point where it's not gonna matter what Abadi is TRYING to do if he doesn't do something

CanTWaitwoRV says:
they've had enuf already

CanTWaitwoRV says:
hence the demonstrations

CanTWaitwoRV says to subgirl:
I know gonna be interesting how M concludes..that chapter and all

subgirl says to CanTWaitwoRV:
yes it will!!! we all will be watching!!!

CanTWaitwoRV says to sassy:
yep! JMO tho but sure seems to be the case!

sassy says:
Abadi is a former financial guy. He has to know what to do but getting all the Mp's on his bandwagon is another thing

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