Posted Today, 04:17 PM
Greetings Peoples Dinar Members.
There has been so many yet unanswered questions and I wanted to provide to you what we know as a fact and can support. Don't worry, it will all be in the news within the coming days.
1) What did the "Ratify" the budget mean in Iraqi terms. What is the status of the remaining two ministers.
2) What is the status of the Chapter VII, what is the status of many other things.
3) What the Kuwait venders in Baghdad feel about what is going on and what they think.
4) What meetings took place and the importance of them before the Arab Summit and post Arab Summit.
5) What will the meaning of the extension of the DFI extensions request means by Maliki.
I know the past couple of weeks have been very difficult and some news is even more difficult. The most difficult is the wording "September". So does this mean we wait until September? Or could it happen before "September"?
Example: all of the articles coming out regarding the three zeroes "000", the lifting, the deleting, the removal, etc.
Our previous posts, the news now talks a lot about September deadline. Yes this in fact is a great bit of information, however, Iraq as a new country that wishes to conduct trade in a global way, is a bit off as far as I can see. I think we all need to look at this as a economic reality and be positive towards the overall picture.
I have read from a couple chat's that there will be a "in country revaluation first at a low rate of .86" or some ridiculous theory, (to draw in the large bills) and that it will increase after that. Wow, the lack of knowledge of how it works is in play here. They state that within days it will be some huge rate. Really?
So all of you believers in this concept, go for it. Good luck in your future endeavors and happiness and read no more.
I posted last week that the Ministers would be announced around the 8th. You will need to read Ray's post to confirm this on.
Ray did share some interesting facts today and that is that Maliki did have a meeting last night with the other leaders, except Talabani. Talabani is in the US undergoing medical treatment at Mayo in Minnesota.
I want to give you all the Iraqi version of "Ratified" of the budget. Now this comes from a source within the "MOF".
"The president of parliament signed off on the budget also. This means it was ratified. They are going to start disbursing the funds in 20 to 25 days." This is huge regarding the economic outcome and distribution of funds. Now the 2011 budget was constructed in the old rate, therefore once it is official distributed, and a new revaluation of the dinar (what we are looking for) happens between now and then, the budget will be adjusted accordingly.
Remember, this is a simple calculation by the governing body of the budget to adjust according to any new rate.
Example, I owe you the sum of one thousand dollars 1:1 (USD) to member "Millionday" and the value of the (USD) is now worth 2:1. My debt would still be the same, the only difference is the conversion factor.
Now the debt regarding Iraq and the other countries that have not "forgiven" their debt. I saw many posts that said that if the value of the Iraqi Dinar increases then the debt increases. No that is not true. It will become a simple solution of a conversion to the rate vs. rate and the debt remains the same. I hope this puts out that fire.
In Ray's information he will address PM Maliki's and his visit to Kuwait and the expected outcome.
Now let's go to the meat of this post.
Got some info to share from some of my contacts. News over there is reporting that Maliki did have a meeting last night with the other leaders, except Talabani.
The remaining ministers were picked and will be announced in two to three days.
The president of parliament signed off on the budget yesterday too. This means it was ratified. They are going to start disbursing the funds in 20 to 25 days.
Maliki is still scheduled to go to Kuwait on the 14th, unless he can go sooner. He will be meeting with the president of Kuwait along with UN Secretary General Moon and a couple of officials from the US also.
He is going to be signing some documents to settle the final differences between the two countries. Moon has stated that he will lift the Chapter VII sanctions after these documents are signed. Not sure of time frame.
Maliki is also requesting that the US offer protection of the DFI Fund for one more year after the sanctions are lifted to prevent any lawsuits against Iraq from other countries.
Talabani is in the US undergoing medical treatment at Mayo in Minnesota. He is also having some political meetings here too. He is scheduled to return to Iraq on the 14th.
There are many foreign companies that are waiting for the Chapter VII sanctions to be lifted so that they can come in and start construction projects.
The CBI has increased the amount of advertising to the people about the coming dinar change.
Even Kuwaiti merchants coming into Baghdad know the RV is coming soon and they are saying they think the value will be comparable to the KWD.
Some are even saying they think it will happen after the Chapter VII lifting.
Everything is moving forward and I donít think we are very far away now. Will report more as I get it.
Have a blessed day.
With respect to the news and all of the positive things going on behind the scenes we know about, March is looking better and better as the days move forward.
I have been saying in the forums that my feeling was 20% in March and 80% by September of this year. Based on my opinion, and my opinion only, and with what we do know and have not reported, I think reversing the numbers would be in order.
I am saying the previous statement for the following reason: When we learn from our mistakes, we are less likely to repeat them, because yesterday is gone; tomorrow is uncertain; today is here. Use it wisely!
Have a great weekend.
Work like you don't need the money,
Love like no one has ever hurt you,
Dance like no one is watching,
Sing like no one is listening,
Live as if this was paradise on Earth