Part 2:
[3:26:04 PM] MY LADIES: OK GOOD NOW READ THIS PLEASE
http://ift.tt/1UQWxzg
[3:28:21 PM] MY LADIES: LET ME KNOW WHEN YOU'RE ALL BACK...I'M WAITING TO SEE IF YOU MAKE THE CONNECTION AND SEE WHERE WE'RE GOING WITH THIS
[3:30:29 PM) AW: finished
[3:31:51 PM] - SAGER -: Done
[3:32:04 PM] MY LADIES: OK GOOD...NOW LOOK AT THIS...
[3:33:50 PM] MY LADIES: Iraq also revived a long-delayed plan to redenominate the Iraqi dinar by knocking three zeroes off the nominal value of its banknotes, said Ihsan Shamran al-Yassiri, the head of Iraq Central Bank Issuing and Vaults Department. The plan is set to be implemented by 2017 after restructuring dinar by issuing two large banknotes — a 50,000 dinar note before the end of this year and 100,000 banknote next year — and canceling small ones.
....
[3:26:04 PM] MY LADIES: OK GOOD NOW READ THIS PLEASE
http://ift.tt/1UQWxzg
[3:28:21 PM] MY LADIES: LET ME KNOW WHEN YOU'RE ALL BACK...I'M WAITING TO SEE IF YOU MAKE THE CONNECTION AND SEE WHERE WE'RE GOING WITH THIS
[3:30:29 PM) AW: finished
[3:31:51 PM] - SAGER -: Done
[3:32:04 PM] MY LADIES: OK GOOD...NOW LOOK AT THIS...
[3:33:50 PM] MY LADIES: Iraq also revived a long-delayed plan to redenominate the Iraqi dinar by knocking three zeroes off the nominal value of its banknotes, said Ihsan Shamran al-Yassiri, the head of Iraq Central Bank Issuing and Vaults Department. The plan is set to be implemented by 2017 after restructuring dinar by issuing two large banknotes — a 50,000 dinar note before the end of this year and 100,000 banknote next year — and canceling small ones.
....
[3:34:19 PM] MY LADIES: WHAT ARE YOU SEEING???
[3:34:30 PM] AW: China is in the process of devaluing the Yuan, while Iraq is setting the stage for increasing the value of the dinar.............complete opposites.
[3:35:00 PM] MY LADIES: YES CORRECT BUT NOT WHERE I'M GOING
[3:35:16 PM] AW: and it runs up through the September 2016 date for the new SDR basket.
[3:36:08 PM] MY LADIES: OK SO LETS LOOK AT THE IMF REPORT FROM LAST NIGHT ABOUT THE ARTICLE VI CONSULTATIONS
[3:36:09 PM] AW: Iraq will be complete with its plan prior to the new SDR implementation.
[3:36:54 PM] MY LADIES: - SAGER -: August 18
2015 ARTICLE IV CONSULTATION AND REQUEST FOR PURCHASE UNDER THE RAPID FINANCING INSTRUMENT—PRESS RELEASE; STAFF REPORT; AND STATEMENT BY THE EXECUTIVE DIRECTOR FOR IRAQ
http://ift.tt/1hLxyPv
[9:16:03 PM] - SAGER -: “Directors supported the authorities’ commitment to maintain the exchange rate peg , which has served as a sound nominal anchor for Iraq. They also welcomed the steps taken to liberalize the foreign exchange market and urged the removal of remaining exchange restrictions and multiple currency practice as external conditions evolve.”
[3:37:27 PM] AW: Ha, ha, ha........I saw that!!!!
[3:37:39 PM] AW I was wondering about it.
[3:37:48 PM] MY LADIES: SO WE KNOW THEY ARE GOING TO MAINTAIN THE DOLLAR PEG RIGHT?
[3:39:05 PM] MY LADIES: OK SO WHAT DOES THIS MEAN???
[3:39:50 PM | Princess DD: taking restrictions off their currency to allow it to be traded internationally
[3:40:46 PM | - SAGER -: To me, it gives countries, especially Iraq in our case, time to come up to par with the world by revitalizing their economy, and this will give them the opportunity to bring it back to a point where their country's wealth will reflect through a strong and stable exchange rate.
This will be just in time for when China will be added in the sdr basket reserve currency status.
The iqd will maintain the dollar peg until it is time to peg to the sdr.
My thoughts are subject to massive correction lol
[3:40:48 PM] Princess DD: That would allow it to be traded on the ISX im thinking
[3:41:31 PM] MY LADIES: GOOD JOB SAGER…..
WELL WE KNOW THEY NEED TO BE INTERNATIONAL TO GET THE BONDS DONE RIGHT??
AND WE KNOW THEY NEED CUSTODIANS TO TRADE THE ISX RIGHT??
AND WE KNOW THEY ARE COMMITTING TO REVIVE THE PLAN OF REDENOMINATION RIGHT?
SO WE NOW KNOW THEY WILL KEEP THE DOLLAR PEG RIGHT??
[3:42:04 PM] AW: Right
[3:42:31 PM] MY LADIES: SO IF THEY ARE GOING TO SETTLE IN THE DINAR THEN THE EXCHANGE HAS TO BE ON PAR WITH THE INDEX RIGHT
AND IRAQ IS TELLING US THEMSELVES THEY WILL NEED UNTIL 2017 SOMETIME TO BE DONE WITH CURRENCY REFORM RIGHT?
[3:44:01 PM] - SAGER -: Why does it have to be on par with the index?
[3:45:04 PM] MY LADIES: SO ALL OF THIS AND NOW THE IMF HOLDING ON THE BASKET IMPLEMENTATION TELLS US THAT WE SHOULD SEE AN EXCHANGE RATE NOW-ISH WITH A DOLLAR PEG ON PAR WITH THE INDEX AND THEN LATER WHEN EVERYONE BEGINS THE SWITCH TO THE SDR THEY WILL HAVE TO DO WHAT??
[3:45:36 PM | AW: RV (re-price)..........back to pre 1990s value
[3:46:34 PM] - SAGER -: Reflect their true wealth Mary! Through a strong exchange rate
[3:46:57 PM] MY LADIES: OK WELL SAGER IF THEY ARE TAKING THE DINAR ACROSS BORDERS RIGHT …AND MAKING IT CONVERTIBLE RIGHT ….AND IT WILL BE EXCHANGED TO THE INDEX RIGHT… AND SETTLED IN THE DINAR…. HOW THEN CAN THEY PRICE IT BELOW THE INDEX?
[3:48:17 PM | Blessed153~Texas. Sister: It also means Do not let go of your dinar until it depegs from the usd and pegs to the sdr next year.
[3:51:24 PM] MY LADIES: RIGHT YOU ALL ARE! SO THE MORAL OF THE STORY HERE IS DO NOT EXCHANGE YOUR DINAR ALL AT ONCE! THEY ARE TELLING US THEY NEED UNTIL 2017,
IMF IS TELLING US THEY NEED UNTIL, THE END OF 2016 IRAQ NEEDS TO PUT ON TRAINING WHEELS AND BECOME CONVERTIBLE NOW SO THEY WILL DO THAT WITH A DOLLAR PEG, BUT THEN LATER WHEN THEY HAVE ALL THEIR CORRECT CURRENCY AND ARE READY TO TAKE OFF THE TRAINING WHEELS THEY WILL PEG TO THE BASK AT A REALITY RATE REFLECTING THEIR GDP BY THEN AND THEY WILL HAVE A NEW PERMANENT RATE.
WHICH ALSO GOES TO THE IMF STATEMENT OF FUTURE EVOLVING CONDITIONS.
[3:51:24 PM] AW: Another try.................they will then de-peg from the dollar.
[3:52:38 PM] - SAGER -: Awesome stuff!
[3:53:02 PM] MY LADIES: AND IF WE REMEMBER THE CBI EXPLAINING TO US THE 3 CURRENCIES THEY SAID THEY WILL ALL RUN TOGETHER FOR 10 YEARS.
[3:53:33 PM] MY LADIES: AND WHAT ARE THOSE 3 CURRENCIES???
[3:54:45 PM] MY LADIES: The plan is set to be implemented by 2017 after restructuring dinar by issuing two large banknotes — a 50,000 dinar note before the end of this year and 100,000 banknote next year
[3:55:01 PM] Princess DD: oh right. not another countries currency.
[3:55:35 PM] Humminbird: the dinar we hold & the new notes they are going to issue--but I dont' know the third
[3:55:56 PM] MY LADIES: VERY GOOD HUMMING
THE CURRENCY THEY HAVE NOW, AND THEN THE 50K AND 100K IS NUMBER 2 AND THEN THE PERMANENT ONE WILL BE #3
[3:56:09 PM] joeyjoey100: Just looked at surrounding Arabic countries and Iraq would bet on a level playing field. Especially at pre-war values
[3:56:11 PM] - SAGER -: So technically we should see a reality rate reflecting Iraqs true wealth for the iqd by September 2016
[3:56:41 PM] MY LADIES: YES JOEY BUT THOSE OTHER COUNTRIES DO NOT HAVE A DOLLAR PEG
[3:57:07 PM | Princess DD: That (Sept. 2016) is when they said China is most likely going into the SDR basket too.
[3:58:10 PM | MY LADIES: WELL THAT'S RIGHT AND THEY WILL VOTE ON THE BASKET COMPOSITION THIS YEAR AS PLANNED BUT THEY WILL IMPLEMENT NOV OF 2016 http://ift.tt/1K64vRK
[3:34:30 PM] AW: China is in the process of devaluing the Yuan, while Iraq is setting the stage for increasing the value of the dinar.............complete opposites.
[3:35:00 PM] MY LADIES: YES CORRECT BUT NOT WHERE I'M GOING
[3:35:16 PM] AW: and it runs up through the September 2016 date for the new SDR basket.
[3:36:08 PM] MY LADIES: OK SO LETS LOOK AT THE IMF REPORT FROM LAST NIGHT ABOUT THE ARTICLE VI CONSULTATIONS
[3:36:09 PM] AW: Iraq will be complete with its plan prior to the new SDR implementation.
[3:36:54 PM] MY LADIES: - SAGER -: August 18
2015 ARTICLE IV CONSULTATION AND REQUEST FOR PURCHASE UNDER THE RAPID FINANCING INSTRUMENT—PRESS RELEASE; STAFF REPORT; AND STATEMENT BY THE EXECUTIVE DIRECTOR FOR IRAQ
http://ift.tt/1hLxyPv
[9:16:03 PM] - SAGER -: “Directors supported the authorities’ commitment to maintain the exchange rate peg , which has served as a sound nominal anchor for Iraq. They also welcomed the steps taken to liberalize the foreign exchange market and urged the removal of remaining exchange restrictions and multiple currency practice as external conditions evolve.”
[3:37:27 PM] AW: Ha, ha, ha........I saw that!!!!
[3:37:39 PM] AW I was wondering about it.
[3:37:48 PM] MY LADIES: SO WE KNOW THEY ARE GOING TO MAINTAIN THE DOLLAR PEG RIGHT?
[3:39:05 PM] MY LADIES: OK SO WHAT DOES THIS MEAN???
[3:39:50 PM | Princess DD: taking restrictions off their currency to allow it to be traded internationally
[3:40:46 PM | - SAGER -: To me, it gives countries, especially Iraq in our case, time to come up to par with the world by revitalizing their economy, and this will give them the opportunity to bring it back to a point where their country's wealth will reflect through a strong and stable exchange rate.
This will be just in time for when China will be added in the sdr basket reserve currency status.
The iqd will maintain the dollar peg until it is time to peg to the sdr.
My thoughts are subject to massive correction lol
[3:40:48 PM] Princess DD: That would allow it to be traded on the ISX im thinking
[3:41:31 PM] MY LADIES: GOOD JOB SAGER…..
WELL WE KNOW THEY NEED TO BE INTERNATIONAL TO GET THE BONDS DONE RIGHT??
AND WE KNOW THEY NEED CUSTODIANS TO TRADE THE ISX RIGHT??
AND WE KNOW THEY ARE COMMITTING TO REVIVE THE PLAN OF REDENOMINATION RIGHT?
SO WE NOW KNOW THEY WILL KEEP THE DOLLAR PEG RIGHT??
[3:42:04 PM] AW: Right
[3:42:31 PM] MY LADIES: SO IF THEY ARE GOING TO SETTLE IN THE DINAR THEN THE EXCHANGE HAS TO BE ON PAR WITH THE INDEX RIGHT
AND IRAQ IS TELLING US THEMSELVES THEY WILL NEED UNTIL 2017 SOMETIME TO BE DONE WITH CURRENCY REFORM RIGHT?
[3:44:01 PM] - SAGER -: Why does it have to be on par with the index?
[3:45:04 PM] MY LADIES: SO ALL OF THIS AND NOW THE IMF HOLDING ON THE BASKET IMPLEMENTATION TELLS US THAT WE SHOULD SEE AN EXCHANGE RATE NOW-ISH WITH A DOLLAR PEG ON PAR WITH THE INDEX AND THEN LATER WHEN EVERYONE BEGINS THE SWITCH TO THE SDR THEY WILL HAVE TO DO WHAT??
[3:45:36 PM | AW: RV (re-price)..........back to pre 1990s value
[3:46:34 PM] - SAGER -: Reflect their true wealth Mary! Through a strong exchange rate
[3:46:57 PM] MY LADIES: OK WELL SAGER IF THEY ARE TAKING THE DINAR ACROSS BORDERS RIGHT …AND MAKING IT CONVERTIBLE RIGHT ….AND IT WILL BE EXCHANGED TO THE INDEX RIGHT… AND SETTLED IN THE DINAR…. HOW THEN CAN THEY PRICE IT BELOW THE INDEX?
[3:48:17 PM | Blessed153~Texas. Sister: It also means Do not let go of your dinar until it depegs from the usd and pegs to the sdr next year.
[3:51:24 PM] MY LADIES: RIGHT YOU ALL ARE! SO THE MORAL OF THE STORY HERE IS DO NOT EXCHANGE YOUR DINAR ALL AT ONCE! THEY ARE TELLING US THEY NEED UNTIL 2017,
IMF IS TELLING US THEY NEED UNTIL, THE END OF 2016 IRAQ NEEDS TO PUT ON TRAINING WHEELS AND BECOME CONVERTIBLE NOW SO THEY WILL DO THAT WITH A DOLLAR PEG, BUT THEN LATER WHEN THEY HAVE ALL THEIR CORRECT CURRENCY AND ARE READY TO TAKE OFF THE TRAINING WHEELS THEY WILL PEG TO THE BASK AT A REALITY RATE REFLECTING THEIR GDP BY THEN AND THEY WILL HAVE A NEW PERMANENT RATE.
WHICH ALSO GOES TO THE IMF STATEMENT OF FUTURE EVOLVING CONDITIONS.
[3:51:24 PM] AW: Another try.................they will then de-peg from the dollar.
[3:52:38 PM] - SAGER -: Awesome stuff!
[3:53:02 PM] MY LADIES: AND IF WE REMEMBER THE CBI EXPLAINING TO US THE 3 CURRENCIES THEY SAID THEY WILL ALL RUN TOGETHER FOR 10 YEARS.
[3:53:33 PM] MY LADIES: AND WHAT ARE THOSE 3 CURRENCIES???
[3:54:45 PM] MY LADIES: The plan is set to be implemented by 2017 after restructuring dinar by issuing two large banknotes — a 50,000 dinar note before the end of this year and 100,000 banknote next year
[3:55:01 PM] Princess DD: oh right. not another countries currency.
[3:55:35 PM] Humminbird: the dinar we hold & the new notes they are going to issue--but I dont' know the third
[3:55:56 PM] MY LADIES: VERY GOOD HUMMING
THE CURRENCY THEY HAVE NOW, AND THEN THE 50K AND 100K IS NUMBER 2 AND THEN THE PERMANENT ONE WILL BE #3
[3:56:09 PM] joeyjoey100: Just looked at surrounding Arabic countries and Iraq would bet on a level playing field. Especially at pre-war values
[3:56:11 PM] - SAGER -: So technically we should see a reality rate reflecting Iraqs true wealth for the iqd by September 2016
[3:56:41 PM] MY LADIES: YES JOEY BUT THOSE OTHER COUNTRIES DO NOT HAVE A DOLLAR PEG
[3:57:07 PM | Princess DD: That (Sept. 2016) is when they said China is most likely going into the SDR basket too.
[3:58:10 PM | MY LADIES: WELL THAT'S RIGHT AND THEY WILL VOTE ON THE BASKET COMPOSITION THIS YEAR AS PLANNED BUT THEY WILL IMPLEMENT NOV OF 2016 http://ift.tt/1K64vRK
PrincessDD:So technically we should see a reality rate reflecting Iraqs true wealth for the iqd by September 2016?
MY LADIES: NO SOMETIME IN 2017
[3:58:59 PM | Princess DD: So we still have the bonds coming up for selling at that 1095 rate unless something has changed.
[4:00:03 PM] MY LADIES: NO NO NO...I THINK THAT 1095 WAS IN THE COUNTRY OR SOME SORT OF CRAZY..BUT WE HAVE BONDS COMING IN SEPT AND THE MEETING WILL BE JUST PRIOR TO DETERMINE VALUE.
[4:00:15 PM] MY LADIES: REFLECT ON MY EARLIER POST.
[4:00:45 PM] MY LADIES: THERE IS STILL ONE STEP LEFT AND IT IS THE FINAL STEP, NOW THE UNDERWRITERS ARE TALKING TO THEIR INVESTORS TO GET A FEEL FOR THE APPETITE FOR THESE BONDS AND THIS WILL HELP THEM HAVE A STARTING POINT FOR THE SALE. SO WE WILL SEE INVESTORS WEIGHING IN SOMETIME IN SEPTEMBER AND USUALLY NOT ALWAYS BUT USUALLY THESE ARE THE SAME INVESTORS THAT WILL PURCHASE THEM OR THEY WILL PUT THEM TO THE MARKET RIGHT ON THE HEELS OF THE INVESTORS OPINIONS, SINCE THE OPINIONS WILL BASED ON THE CURRENT MARKET THERE WILL BE NO WAITING TIME AFTER THE INVESTORS MEET
[4:00:46 PM] - SAGER -: Hmmm I thought we needed to see the reality rate before the sdr is fully implemented, not when Iraqs currency reform is completed
[4:01:15 PM] MY LADIES: APPLES AND ELEPHANTS SAGER!!
[4:01:35 PM] - SAGER -: True Mary, thank you
[4:02:41 PM] MY LADIES: WE SHOULD SEE A RATE NOW ISH BUT NOT A SDR VALUE UNTIL THEY SWITCH PEGS
[4:03:02 PM] MY LADIES: A 2 STEP PROCESS SAGER...
[4:03:15 PM | - SAGER -: Yes that much I got ;)
[4:04:23 PM] MY LADIES: WHEN THEY ARE DONE WITH THEIR REFORMS AND THE CURRENCY AND THINGS ARE CORRECT THEY WILL SWITCH PEGS TO THE SDR
[4:04:48 PM] Princess DD: Nowish is good with me.
[4:07:29 PM] Humminbird: Mary please help--with a peg to USD at par would be $1 IQD to $1 USD right?
[4:07:59 PM] MVL: I've been following along quietly, because the endgame was out of my reach, but thank you very much for the amazing breakdown of where we are
[4:08:06 PM] Princess DD: I dont think they would sell the bonds for that cheap though would they?
[4:09:02 PM] Princess DD: They must have a real rate for the bonds and im thinking it should be better than 1.00.
[4:10:09 PM] - SAGER -: The point is let's just get rolling! :) Let it be internationally tradable!
[4:10:28 PM] MY LADIES: WELL SORT OF HUMMING BUT I THINK THE INDEX IS 0.98 NOW..
[4:10:43 PM] MY LADIES: SAGER WHAT IS THE INDEX TODAY???
[4:11:13 PM] - SAGER -: 96.38
[4:11:30 PM] MY LADIES: THANKS
MY LADIES: NO SOMETIME IN 2017
[3:58:59 PM | Princess DD: So we still have the bonds coming up for selling at that 1095 rate unless something has changed.
[4:00:03 PM] MY LADIES: NO NO NO...I THINK THAT 1095 WAS IN THE COUNTRY OR SOME SORT OF CRAZY..BUT WE HAVE BONDS COMING IN SEPT AND THE MEETING WILL BE JUST PRIOR TO DETERMINE VALUE.
[4:00:15 PM] MY LADIES: REFLECT ON MY EARLIER POST.
[4:00:45 PM] MY LADIES: THERE IS STILL ONE STEP LEFT AND IT IS THE FINAL STEP, NOW THE UNDERWRITERS ARE TALKING TO THEIR INVESTORS TO GET A FEEL FOR THE APPETITE FOR THESE BONDS AND THIS WILL HELP THEM HAVE A STARTING POINT FOR THE SALE. SO WE WILL SEE INVESTORS WEIGHING IN SOMETIME IN SEPTEMBER AND USUALLY NOT ALWAYS BUT USUALLY THESE ARE THE SAME INVESTORS THAT WILL PURCHASE THEM OR THEY WILL PUT THEM TO THE MARKET RIGHT ON THE HEELS OF THE INVESTORS OPINIONS, SINCE THE OPINIONS WILL BASED ON THE CURRENT MARKET THERE WILL BE NO WAITING TIME AFTER THE INVESTORS MEET
[4:00:46 PM] - SAGER -: Hmmm I thought we needed to see the reality rate before the sdr is fully implemented, not when Iraqs currency reform is completed
[4:01:15 PM] MY LADIES: APPLES AND ELEPHANTS SAGER!!
[4:01:35 PM] - SAGER -: True Mary, thank you
[4:02:41 PM] MY LADIES: WE SHOULD SEE A RATE NOW ISH BUT NOT A SDR VALUE UNTIL THEY SWITCH PEGS
[4:03:02 PM] MY LADIES: A 2 STEP PROCESS SAGER...
[4:03:15 PM | - SAGER -: Yes that much I got ;)
[4:04:23 PM] MY LADIES: WHEN THEY ARE DONE WITH THEIR REFORMS AND THE CURRENCY AND THINGS ARE CORRECT THEY WILL SWITCH PEGS TO THE SDR
[4:04:48 PM] Princess DD: Nowish is good with me.
[4:07:29 PM] Humminbird: Mary please help--with a peg to USD at par would be $1 IQD to $1 USD right?
[4:07:59 PM] MVL: I've been following along quietly, because the endgame was out of my reach, but thank you very much for the amazing breakdown of where we are
[4:08:06 PM] Princess DD: I dont think they would sell the bonds for that cheap though would they?
[4:09:02 PM] Princess DD: They must have a real rate for the bonds and im thinking it should be better than 1.00.
[4:10:09 PM] - SAGER -: The point is let's just get rolling! :) Let it be internationally tradable!
[4:10:28 PM] MY LADIES: WELL SORT OF HUMMING BUT I THINK THE INDEX IS 0.98 NOW..
[4:10:43 PM] MY LADIES: SAGER WHAT IS THE INDEX TODAY???
[4:11:13 PM] - SAGER -: 96.38
[4:11:30 PM] MY LADIES: THANKS
via Dinar Recaps - Our Blog http://ift.tt/1PmOTZJ
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