Trinity, kaperoni, sandstorm, mountainman & doc post, 19 august
TRINITY, KAPERONI, SANDSTORM, MOUNTAINMAN & DOC POST, 19 AUGUST
8-19-2012 TrinityeXchange: We are forced to draw conclusions on news that really isn't news to begin with. But what it looks like to me after I consider 1. The attack of the executive branch against the CBI accusing them of mafia ties and laundering money 2. The CBI refuting those claims and implicating Maliki 3. The United States implicating Maliki 4. United States presence back in Iraq, it has been determined that Maliki's power will be quelled. At this point it doesn't matter what is or isn't true. Things seem to have already been determined by the US that Maliki's regime must come to an end. Maliki tried to plead his case by blaming the CBI but it failed. The US has built its case and I imagine soon we will see United States' plan executed. Uncle Sam had it already planned back in approx 2003 that the middle east would succumb. On that list was approximately 7 nation states (Iraq, Syria, Libya, Iran, Afghanistan, etc). Maliki will not stand in the way of the US executing its goal.
8-19-2012 Kaperoni: Draft law to delete zeros will pass shortly after the end of the "whirlwind." The CBI came out with some interesting articles pertaining to the Dinar today. "CBI - draft to delete the zeros will pass after the political crisis."
8-19-2012 Sandstorm: Unfortunately, just having the resources doesnt equate to a higher valued currency. Iraq needs to mine and pull these minerals out of the ground and export or import, selling these goods to increase GDP. Food for thought, a country would never value there currency on untapped resources, because everytime they drilled they would have less and their currency's value would be on a continued decline. It would be impossible to accurately set a currency's value on reserves. Overvaluations and new finds would create too much instability, being that the main function of any central bank is price stability. But finding these minerals and increasing GDP would be very beneficial.
8-19-2012 Mountainman: Did everyone see that statement from the CBI today? Wow, that was great!! The CBI said all they are waiting on is the GOI to resolve this crisis and implement the reform paper. The CBI didn't mention a RV specifically because as Shabibi has said they can't tell us, but they did say the next phase of the national economic project will start after the crisis is resolved. That is wonderful news and I really think we are so close now!!
8-19-2012 Newshound Guru Doc We sit here with Ramadan just about over...we did not expect the RV during this time. We we did expect was many under the table deals to be put into place and several are starting to emerge. Among those appear to be great movement toward structuring an agreement around the Ebril issues. We have also witnessed Maliki trying to stall Shabibi once again but this time Shabibi said"NO MORE!" Also the GOI appears on board now . If the reported issuing of the lower denoms is accurate we should see the RV in the same time period. It would make no sense to issue a 5 dinar note at the current exchange rate which would make that note worth about 1/2 of one cent USD.
8-19-2012 Dalite: Unfortunately, OPEC countries can only accept USD for oil payments, so the UST has no need for Dinar. If Iraq had any other export that the US needed, it would build the necessary reserves, if payment was demanded in Dinar. Since Iraq is a dual currency country, that isn't a likely scenario. There has never been any factual information ever brought forward to support that claim. Although we all wish it was true, it is considered to be a Forum Fact, only believed in Dinar forums.
OPEC regulations and IMF requirements prevent that from currently being a reality. Perhaps that will change in the future, if the USD is replaced by the Dinar as the worlds reserve currency of choice. Under present regulations, the CBI has to fully back the Dinar with Foreign Reserves. That is the cause for concern how much Foreign Reserves the CBI has (which are not all in USD).
8-19-2012 Gypsy Vardo: New York Times quote: "The accusations of high-level Iraqi government involvement in sanctions-busting have roiled Iraqi politics and invariably reflect on Mr. Maliki, since many Iraqi officials now say that he has taken effective control of the Iraqi central bank, which is nominally independent." I think we have to consider that Maliki might be the one holding this up more directly than we have thought possible.
8-19-2012 LoriC: Today Saleh of the CBI confirmed exactly what the newshounds have been trying to explain for a long time. He said the project to delete the zeros is waiting on the "political storm" to end and that the national project to reform the currency will commence when these reforms are passed.
8-19-2012 LoriC:This should end the debate on what the holdup is. A seated GOI, Erbil power sharing, Investment laws, HCL etc. has always been the holdup and you don't have to take my word for it. The CBI has confirmed this and it's great news for all of us who are waiting on the economic project because they are on the brink of passing the reforms.
8-19-2012 Luigi1: Under British control in the early 1900s UK geologists located vast amounts of untapped silver, platinum, palladium, lithium, potash & other rare minerals deposits in addition to gold & copper. Iraq also has vast amounts of un - surveyed untapped natural gas fields ripe for exploration not even counting the known oil deposits. The main choking point or bottle neck are the development of the fields & mines as well as building the infrastructure to get these resources to the global market place. Iraq will have to build many times more off shore floating oil & gas terminals & dredge additional deep water ports to handle the mineral barges, freighter & container ships. Iraq is indeed a very very wealthy nation with great future potentials just waiting for global developers to come in & facilitate the GOI. read more: http://dinaresgurus.blogspot.com/2012/08/trinity-kaperoni-sandstorm-mountainman.html