Part 2
Frank26: If they add value to their currency they enter Article 8….and by the way….many times we have said incorrectly….well actually in a lazy way….we have said…..all that the IMF wants is for Iraq to be 2% compliant and to raise the value of their currency to enter Article 8….many times we have said to raise the value of their currency to lift Article 8…..that is a mistake…
If you heard that anywhere and even from me it was said in a lazy manner….you see once they lift the value of their currency they ENTER Article 8….just wanted to make sure you knew that.
Anyways, I don’t know what it is they are going to do…..but I’ll tell you what….and it’s just…IMO….we are going to see something either this week or next week….and if it’s not that they are announcing the RI or the value yet….at least it should be some type of movement by the CBI…and to me that is important progress….
They are like a spring that is being coiled and they are about to let go of it….to me any option we see from the CBI is good….because we can’t tell you everything
....
Frank26: If they add value to their currency they enter Article 8….and by the way….many times we have said incorrectly….well actually in a lazy way….we have said…..all that the IMF wants is for Iraq to be 2% compliant and to raise the value of their currency to enter Article 8….many times we have said to raise the value of their currency to lift Article 8…..that is a mistake…
If you heard that anywhere and even from me it was said in a lazy manner….you see once they lift the value of their currency they ENTER Article 8….just wanted to make sure you knew that.
Anyways, I don’t know what it is they are going to do…..but I’ll tell you what….and it’s just…IMO….we are going to see something either this week or next week….and if it’s not that they are announcing the RI or the value yet….at least it should be some type of movement by the CBI…and to me that is important progress….
They are like a spring that is being coiled and they are about to let go of it….to me any option we see from the CBI is good….because we can’t tell you everything
....
Check this out….you will see this either tomorrow or the next day…..around 2 or 3 this afternoon…..one of Abadi’s consultants had come out and said that Abadi had arrested 18 ministers from the GOI….
Wow….wait till you see that article….and he also arrested 100 general managers of the GOI….he’s taking them to the Judiciary….by their ears….Abadi wants qualified people in his government….remember we talked about this….he wants smart people who can do the job and this is what he will replace them with…way to go Abadi.
So Jobouri and Abadi met today around 4 or 5 in the afternoon and they talked…and IMO….they made a deal because Jourbari is a bad man….but he is more than likely going to stay according to our TEAMS….and you know….it was more minor infractions on his part…..even though he should not have done what he did….they were able to work out a deal with him.
And another thing….Abadi is scrapping the barrel…..the bottom of the barrel…seriously how many qualified people are there to be in the government of Iraq.
The crazy thing about this list that WalkingStick put out….Allak was on it….Shahristani was on it….Jourbari was on it…and even Abadi’s name was on it….why….because their Holy Man wanted him gone.
This list contained a lot of people, it was like a laxative for the GOI to clean it out….that list has been out for a while and until now we have not seen evidence of anything being done about it.
You saw that article that they said the Conscript Law is now going into effect….I told you it was not the National Guard Law….I told the internet but they wouldn’t listen….now what does this law mean….remember the last time we were together I told you we were paying the armies……the Kurd Peshmerga….the Iraqi Army….we the US have been paying them.
DELTA come in I want you to talk about your report on the banks and then we have some articles that you and I should talk about.
DELTA
Hello Family, there has been many good articles out today that caused much excitement. I want to remind everyone that we talked that after the 8th the articles would be telling you exactly what they are trying to do and today we see that.
The biggest news is centered around the CBI….by the way they did have some kind of celebration within the CBI…no one knew about this celebration…it happened behind closed doors…..the Arabic article that talks of this was a bit vague….they talked about 2016-2020 but what is going on….they basically admitted to doing the bonds….6 trillion dinars of bonds in 2016 that will be denominated in dinars…..
But why this big celebration….simply for that…..so we think there is something bigger than what they are showing us….we don’t think this is a coincidence….you remember the big news last week when the IMF met in Lebanon and there were 6-8 countries in the meeting and Iraq was one of them and they stated we finished the study we finished the numbers…
Also remember what the CBI stated a long time ago to the banks…we are waiting for the calculations….we are waiting for the math and as soon as we get it we will let you know what it is.
So we really think that part of this celebration is that the CBI is really ready to move forward, not only within Iraq…but they are following the recommendations that the IMF told them by the end of February they have to eliminate the restrictions in their exchange rate and they have to make it easier to move capital from Iraq into other currencies of the world….basically moving towards Article 8.
Now a year ago, remember Family there were things that the IMF was looking to get from Iraq….but that didn’t happen….but does this relate to this celebration that happened…..many high ranking banking officials were there….the acting governor of the CBI was trying to show his hand because he had no choice….remember the people are asking the government to remove him because they don’t think he is doing his job….
So he puts this party together to show exactly what he is doing…and the financial committee and others got a look at his plan and they appear to be happy about it….
We as a team feel though that the CBI would not be throwing such a celebration unless there was something really big about to happen.
Many thanks to I-TEAM, my TEAM, Frankie, we had told you something was going on…..everyone from the Market Economy to the Private Sector are trying to activate things….but as we told you a while ago they cannot activate anything if the CBI does not move forward.
Then 2 weeks ago we hear the CBI is about to launch e-dinar….and we all know that they cannot do this unless they lift the 00’s and move to Article 8….we saw proof of this from the head of the Rafidain Bank we cannot do electronic banking….everything is hooked up and ready to go…but we wait on the CBI to lift the 000’s and move to Article 8…without Article 8 we cannot do it.
If you go back and look at the notes from the last time I was with you, look at the notes that we gave you from I-TEAM, from Frank, from me, it looks like Iraq is ahead of schedule to do something very nice and something that will surprise everybody.
Remember too the acting governor Turki before Allak when he was asked at a conference if the CBI could support any exchange rate….he said, with what ever the CBI would use as an exchange rate the CBI can support.
Again this celebration is a huge event and there have to be things going on that they are not telling us about.
We got word that the rate was done in Lebanon in that meeting and that the CBI does indeed have the rate….we just don’t know what it is yet.
Looking at this celebration it does seem to support the idea that the math with the IMF is complete and that the CBI should be ready to come forth with a true exchange rate.
Remember the time frame given to Iraq from the IMF…no later than June, first half of 2016, Iraq has to go international, Article 8, and they need to come up with a true value of the IQD.
The contract with the IMF was also very clear that by the end of February Iraq has to work to remove the restrictions with the exchange rate and also make the movement of capital easier from within Iraq to the outside.
It is time for Iraq to make the decision to help themselves….is it possible this could go past the end of February….it’s Iraq….anything is possible…..but in this case not likely.
Another good article that came out was from the US Treasury that stated they would not deal with certain Iraqi business people and they would not deal with any Iraqi bank….but here is the problem with this….how can they deal with Iraqi banks if they are not Article 8 compliant…..the UST knows exactly what is going on with Iraq….have they let the cat out of the bag….or the dinar out of the bag….
They know what Iraq must be ready to do…..why wait until just now to blacklist businesses and people….they have known about the money laundering for a long time….why now….they must know Iraq is close to announcing Article 8 compliance, that they are poised to go global with their banking, that they are ready to raise their currency value…..on the verge to go international with their markets, with their currency, and move to Article 8 compliance….this is all very big information.
This is the two reports that I wanted to share with the Family.
Frank: How about this one DELTA….I told the family that Jubouri is trying to win favor with Abadi….I love how he is talking….we need to raise the value….we need better ministers….oh yeah whatever you say Abadi I’m all for it….he shows up at the GOI just to make himself look good, he knows he’s on that list, but I-TEAM told me they believe we made a deal with Jubouri and a few other people to stick around….then the next thing you see is for Jubouri calls for banks to monitor and combat money laundering….well isn’t he the one who was doing the stealing and now he wants to stop it.
DELTA: They know all these people may be corrupt but it is really hard to take them down so fast…and if you take them down this may create more problems….this is one of the last things they want to do…create more problems…..let me give you an example….Maliki….he is no longer a Vice President but they have not yet put him in jail because he still has a lot of power, knows many people with power….
With the impending rate change, them moving into the international market soon, it is in everyone’s interest to just stay silent for now….and they will deal with these problems after that….right now there is more urgency to go international so that Iraq can survive…they will take care of the corruption issues after they make this move…..
There are so many indications of where they are headed……the auctions that have been so low…one indication…today’s articles are another….the bombing of the CBI branch in Mosul is another good point….gets rid of so many dinars that were in the hands of DAASH….gets those 000’s off the streets….even the number of countries that want to loan Iraq money for reconstruction has to be an indicator that something good is going on, they would not be doing this for nothing in return….and we know what it is.
FRANK: I told the Family about these deals that are doing on….you see you tend to do deals when you need something to happen really quick….let’s make this deal…quick….ok….and that is what we are seeing….nothing but advancement…that is why we said nothing but empirical data after the 8th and that is what it has been. I like that the US Treasury published a list of names of Iraqi people and banks that are prohibited to be handled…..in other words you cannot be involved at the CBI any longer….go away….and this list comes from the UST.
The General Amnesty Law and the Courts are awaiting the final touches from the heads of the blocs….once again ministers….some of them will be protected….some will not….here’s an amnesty law that will come in to be a part of that protection….they are making deals and I think because of this the lava flow is faster….and I told the Family that we are really anticipating that the CBI is about to do something….
Now I pray it is the Monetary Reform and I pray it is to add value to their currency….but whatever it is….it is a movement in their reform in the CBI….I-TEAM told me to tell you to pay as much attention as you can to the Arabic side of the CBI….they feel there is going to be something released from the CBI very soon in Arabic that will eventually catch up to the rest of us.
Another article…..Banks Struggle to Attract Forex….well because there is no value to the currency….the article says….the unification of the foreign exchange rate and that means ending the multi currency regime….it says that banks should not rush to open foreign currency accounts as these facilities rely heavily on floating exchange rates….in other words….just concentrate on our currency that we are about to add value to.
DELTA: Let me comment on each on real quick….regarding the US Treasury article…..my concern is with the banking entity….if someone is already on a blacklist….why put them on the list again…it is my opinion that with this Treasury article we are very close….more proof of how close we must be to something happening…what else could be going on except their movement into Article 8.
The next article about amnesty and the courts…you are right there are many things going on behind closed doors…we will be watching closely to see if this passes on Thursday….this does not really affect the Monetary Reform but is extremely important to Iraq as a nation.
FRANK: Here is another article that says they are going to allow banks to use 50% of the reserves they have right now to buy treasury remittances….this appears to be yet another move or step.
DELTA: Yes this was another part of all the CBI celebration…this was talked about by the President of Parliament….how it works….remember when the CBI came out and told every bank if you want to continue doing business in Iraq you have raise your capital to 250 billion dinars….some o that 250 billion dinars has to be deposited in the CBI….so the CBI is basically telling them you can use up to 50% of that 250 billion dinars to buy remittances, like a money order from the CBI in advance and then earn interest….what doesn’t make sense is that in the past the banks were told to raise their capital to 250 billion dinars….now the CBI is saying you can use 50% of that….it makes no sense.
FRANK: Good analogy on that….check this one out….to me this is the cherry that sits atop the sundae….Abadi Led the Reform Program and the Winds of Change to Come.
DELTA: I agree more than one cherry really….Abadi, the poor guy, even though he doesn’t have control over the Monetary Reform he is trying his best to get it done…..Frank why do you think there are so many demonstrations….not just the corruption….people need money, they need jobs….and Abadi is an economist…the guy he knows what the people want and need…..
Right now it appears that everything is moving very fast….like we told the Family a while back….after the 8th we get real data and information and no more BS and smoke/mirrors just reality…..remember what the IMF told them about in that contract…you have to show investors you are really committed and really serious about whatever you are doing…..so basically the IMF is telling the government in order to get investors to trust you….you must show them something….
Both the GOI and the CBI are laying hints for the investors of what is to come…..IMO….what they are going to show in the article on the Arabic side is what they sent to every bank….because every bank has been waiting for what they were told they would receive once the IMF communicated with the CBI….again IMO…..what I-TEAM is saying to watch for on the Arabic side of the CBI is the letter that was sent from the CBI to the banks announcing the rate…..they do have to announce this before they send to the banks….
But just think about it….what is left….telling the world they international….then Article 8 compliance….then we move from there.
FRANK: And that is why I told the Family the CBI is not doing much of anything, they just watch the GOI and I said it is like there is a mouse trap that is ready to spring inside the CBI….they are not even saying anything….it is the GOI that is doing all the talking….I-TEAM is telling me they are just watching and the moment they feel it is right….BOOM….they are going to spring something and they are going to do something….and I pray it is adding value to their currency.
Check this out DELTA….I’ve always told the Family it is NOT the National Guard Law….we teach our Family it is the Conscript Law….well sure enough over the weekend there was an article that says the Conscript Law is being passed…..we explained to the Family that this is because of the militia….there are many different militia types running around in Iraq like a bunch of chickens without their heads on….they are not under one command, no leadership, these guys are doing whatever they want….this nonsense has to end…we need one command….
So last year the US started to pay the armies…..we told these armies to just watch….the next thing you know the terrorists are leaving or gone….now you see the Conscript Law……what that means is that Abadi is going to pay his soldiers…..all militias will be under one command, Abadi will be the Commander in Chief and I’m paying you through the GOI….how can they get this done unless they raise the value of their currency.
DELTA: Excellent point….all these articles and points in fact they can’t make it any more clear….they have so many things interconnected…Abadi knows the problems…..the CBI knows the problems…..the meeting in Lebanon….the CBI knowing the numbers….the IMF contract that should make investors more comfortable….people can’t withdraw their money from the banks….they want to demonstrate in front of the banks….
Can they afford to wait another 3 or 4 months…..no…..Abadi has to act….Iraq hangs in a very dangerous economic situation….but they are doing things, moving very fast with their efforts…in Iraq’s situation they must have money to have security….they have to move towards and into Article 8 to gain what they need….they need this as quickly as possible and I think they are moving in the right direction.
FRANK: Let me talk about the Iranian Rial for a bit….it turns out that Iran came out and said….look…we are not going to raise the value of our currency….until Iraq does…now they just recently said that….and that was an interesting article….but I’m sorry….I don’t trust Iran….IMO….I see Iran has a tendency to lie in order to get what they want…..I don’t know….maybe I’m misjudging them….maybe it is different now with the sanctions lifted….but the fact about this Monetary Reform that is occurring….Iran should not be talking about that…..
Iran should not come out and say we are going to raise the value of our currency the moment the sanctions are lifted….and then a few months later come out and say…..ok Iraq….we are not going to lift our currency value until you lift yours….Iran….Shut Up….that is what I see….that they don’t care….they are trying to speed up the process of them being able to lift the value of their money….if anything you believe that Iran is going to be polite and say….ok Iraq you can go first….they should….but these guys I don’t trust them….
I know they told Iraq ok you go ahead and go first…..who is talking about raising value….well we are…..well shut up about it…..the fact they are saying Iraq can go first they are telling you they are raising the value of their currency….and if Iran goes first….do you think they are going to say…..oh I’m sorry….they could care less…..they are not pegged to the IQD….Iran bothers me when they say these things…and they should shut up….it reminds me of the China Syndrome….when China raised their value around 1995….they were denying they would then the next thing you know…..BOOM.
Wow….wait till you see that article….and he also arrested 100 general managers of the GOI….he’s taking them to the Judiciary….by their ears….Abadi wants qualified people in his government….remember we talked about this….he wants smart people who can do the job and this is what he will replace them with…way to go Abadi.
So Jobouri and Abadi met today around 4 or 5 in the afternoon and they talked…and IMO….they made a deal because Jourbari is a bad man….but he is more than likely going to stay according to our TEAMS….and you know….it was more minor infractions on his part…..even though he should not have done what he did….they were able to work out a deal with him.
And another thing….Abadi is scrapping the barrel…..the bottom of the barrel…seriously how many qualified people are there to be in the government of Iraq.
The crazy thing about this list that WalkingStick put out….Allak was on it….Shahristani was on it….Jourbari was on it…and even Abadi’s name was on it….why….because their Holy Man wanted him gone.
This list contained a lot of people, it was like a laxative for the GOI to clean it out….that list has been out for a while and until now we have not seen evidence of anything being done about it.
You saw that article that they said the Conscript Law is now going into effect….I told you it was not the National Guard Law….I told the internet but they wouldn’t listen….now what does this law mean….remember the last time we were together I told you we were paying the armies……the Kurd Peshmerga….the Iraqi Army….we the US have been paying them.
DELTA come in I want you to talk about your report on the banks and then we have some articles that you and I should talk about.
DELTA
Hello Family, there has been many good articles out today that caused much excitement. I want to remind everyone that we talked that after the 8th the articles would be telling you exactly what they are trying to do and today we see that.
The biggest news is centered around the CBI….by the way they did have some kind of celebration within the CBI…no one knew about this celebration…it happened behind closed doors…..the Arabic article that talks of this was a bit vague….they talked about 2016-2020 but what is going on….they basically admitted to doing the bonds….6 trillion dinars of bonds in 2016 that will be denominated in dinars…..
But why this big celebration….simply for that…..so we think there is something bigger than what they are showing us….we don’t think this is a coincidence….you remember the big news last week when the IMF met in Lebanon and there were 6-8 countries in the meeting and Iraq was one of them and they stated we finished the study we finished the numbers…
Also remember what the CBI stated a long time ago to the banks…we are waiting for the calculations….we are waiting for the math and as soon as we get it we will let you know what it is.
So we really think that part of this celebration is that the CBI is really ready to move forward, not only within Iraq…but they are following the recommendations that the IMF told them by the end of February they have to eliminate the restrictions in their exchange rate and they have to make it easier to move capital from Iraq into other currencies of the world….basically moving towards Article 8.
Now a year ago, remember Family there were things that the IMF was looking to get from Iraq….but that didn’t happen….but does this relate to this celebration that happened…..many high ranking banking officials were there….the acting governor of the CBI was trying to show his hand because he had no choice….remember the people are asking the government to remove him because they don’t think he is doing his job….
So he puts this party together to show exactly what he is doing…and the financial committee and others got a look at his plan and they appear to be happy about it….
We as a team feel though that the CBI would not be throwing such a celebration unless there was something really big about to happen.
Many thanks to I-TEAM, my TEAM, Frankie, we had told you something was going on…..everyone from the Market Economy to the Private Sector are trying to activate things….but as we told you a while ago they cannot activate anything if the CBI does not move forward.
Then 2 weeks ago we hear the CBI is about to launch e-dinar….and we all know that they cannot do this unless they lift the 00’s and move to Article 8….we saw proof of this from the head of the Rafidain Bank we cannot do electronic banking….everything is hooked up and ready to go…but we wait on the CBI to lift the 000’s and move to Article 8…without Article 8 we cannot do it.
If you go back and look at the notes from the last time I was with you, look at the notes that we gave you from I-TEAM, from Frank, from me, it looks like Iraq is ahead of schedule to do something very nice and something that will surprise everybody.
Remember too the acting governor Turki before Allak when he was asked at a conference if the CBI could support any exchange rate….he said, with what ever the CBI would use as an exchange rate the CBI can support.
Again this celebration is a huge event and there have to be things going on that they are not telling us about.
We got word that the rate was done in Lebanon in that meeting and that the CBI does indeed have the rate….we just don’t know what it is yet.
Looking at this celebration it does seem to support the idea that the math with the IMF is complete and that the CBI should be ready to come forth with a true exchange rate.
Remember the time frame given to Iraq from the IMF…no later than June, first half of 2016, Iraq has to go international, Article 8, and they need to come up with a true value of the IQD.
The contract with the IMF was also very clear that by the end of February Iraq has to work to remove the restrictions with the exchange rate and also make the movement of capital easier from within Iraq to the outside.
It is time for Iraq to make the decision to help themselves….is it possible this could go past the end of February….it’s Iraq….anything is possible…..but in this case not likely.
Another good article that came out was from the US Treasury that stated they would not deal with certain Iraqi business people and they would not deal with any Iraqi bank….but here is the problem with this….how can they deal with Iraqi banks if they are not Article 8 compliant…..the UST knows exactly what is going on with Iraq….have they let the cat out of the bag….or the dinar out of the bag….
They know what Iraq must be ready to do…..why wait until just now to blacklist businesses and people….they have known about the money laundering for a long time….why now….they must know Iraq is close to announcing Article 8 compliance, that they are poised to go global with their banking, that they are ready to raise their currency value…..on the verge to go international with their markets, with their currency, and move to Article 8 compliance….this is all very big information.
This is the two reports that I wanted to share with the Family.
Frank: How about this one DELTA….I told the family that Jubouri is trying to win favor with Abadi….I love how he is talking….we need to raise the value….we need better ministers….oh yeah whatever you say Abadi I’m all for it….he shows up at the GOI just to make himself look good, he knows he’s on that list, but I-TEAM told me they believe we made a deal with Jubouri and a few other people to stick around….then the next thing you see is for Jubouri calls for banks to monitor and combat money laundering….well isn’t he the one who was doing the stealing and now he wants to stop it.
DELTA: They know all these people may be corrupt but it is really hard to take them down so fast…and if you take them down this may create more problems….this is one of the last things they want to do…create more problems…..let me give you an example….Maliki….he is no longer a Vice President but they have not yet put him in jail because he still has a lot of power, knows many people with power….
With the impending rate change, them moving into the international market soon, it is in everyone’s interest to just stay silent for now….and they will deal with these problems after that….right now there is more urgency to go international so that Iraq can survive…they will take care of the corruption issues after they make this move…..
There are so many indications of where they are headed……the auctions that have been so low…one indication…today’s articles are another….the bombing of the CBI branch in Mosul is another good point….gets rid of so many dinars that were in the hands of DAASH….gets those 000’s off the streets….even the number of countries that want to loan Iraq money for reconstruction has to be an indicator that something good is going on, they would not be doing this for nothing in return….and we know what it is.
FRANK: I told the Family about these deals that are doing on….you see you tend to do deals when you need something to happen really quick….let’s make this deal…quick….ok….and that is what we are seeing….nothing but advancement…that is why we said nothing but empirical data after the 8th and that is what it has been. I like that the US Treasury published a list of names of Iraqi people and banks that are prohibited to be handled…..in other words you cannot be involved at the CBI any longer….go away….and this list comes from the UST.
The General Amnesty Law and the Courts are awaiting the final touches from the heads of the blocs….once again ministers….some of them will be protected….some will not….here’s an amnesty law that will come in to be a part of that protection….they are making deals and I think because of this the lava flow is faster….and I told the Family that we are really anticipating that the CBI is about to do something….
Now I pray it is the Monetary Reform and I pray it is to add value to their currency….but whatever it is….it is a movement in their reform in the CBI….I-TEAM told me to tell you to pay as much attention as you can to the Arabic side of the CBI….they feel there is going to be something released from the CBI very soon in Arabic that will eventually catch up to the rest of us.
Another article…..Banks Struggle to Attract Forex….well because there is no value to the currency….the article says….the unification of the foreign exchange rate and that means ending the multi currency regime….it says that banks should not rush to open foreign currency accounts as these facilities rely heavily on floating exchange rates….in other words….just concentrate on our currency that we are about to add value to.
DELTA: Let me comment on each on real quick….regarding the US Treasury article…..my concern is with the banking entity….if someone is already on a blacklist….why put them on the list again…it is my opinion that with this Treasury article we are very close….more proof of how close we must be to something happening…what else could be going on except their movement into Article 8.
The next article about amnesty and the courts…you are right there are many things going on behind closed doors…we will be watching closely to see if this passes on Thursday….this does not really affect the Monetary Reform but is extremely important to Iraq as a nation.
FRANK: Here is another article that says they are going to allow banks to use 50% of the reserves they have right now to buy treasury remittances….this appears to be yet another move or step.
DELTA: Yes this was another part of all the CBI celebration…this was talked about by the President of Parliament….how it works….remember when the CBI came out and told every bank if you want to continue doing business in Iraq you have raise your capital to 250 billion dinars….some o that 250 billion dinars has to be deposited in the CBI….so the CBI is basically telling them you can use up to 50% of that 250 billion dinars to buy remittances, like a money order from the CBI in advance and then earn interest….what doesn’t make sense is that in the past the banks were told to raise their capital to 250 billion dinars….now the CBI is saying you can use 50% of that….it makes no sense.
FRANK: Good analogy on that….check this one out….to me this is the cherry that sits atop the sundae….Abadi Led the Reform Program and the Winds of Change to Come.
DELTA: I agree more than one cherry really….Abadi, the poor guy, even though he doesn’t have control over the Monetary Reform he is trying his best to get it done…..Frank why do you think there are so many demonstrations….not just the corruption….people need money, they need jobs….and Abadi is an economist…the guy he knows what the people want and need…..
Right now it appears that everything is moving very fast….like we told the Family a while back….after the 8th we get real data and information and no more BS and smoke/mirrors just reality…..remember what the IMF told them about in that contract…you have to show investors you are really committed and really serious about whatever you are doing…..so basically the IMF is telling the government in order to get investors to trust you….you must show them something….
Both the GOI and the CBI are laying hints for the investors of what is to come…..IMO….what they are going to show in the article on the Arabic side is what they sent to every bank….because every bank has been waiting for what they were told they would receive once the IMF communicated with the CBI….again IMO…..what I-TEAM is saying to watch for on the Arabic side of the CBI is the letter that was sent from the CBI to the banks announcing the rate…..they do have to announce this before they send to the banks….
But just think about it….what is left….telling the world they international….then Article 8 compliance….then we move from there.
FRANK: And that is why I told the Family the CBI is not doing much of anything, they just watch the GOI and I said it is like there is a mouse trap that is ready to spring inside the CBI….they are not even saying anything….it is the GOI that is doing all the talking….I-TEAM is telling me they are just watching and the moment they feel it is right….BOOM….they are going to spring something and they are going to do something….and I pray it is adding value to their currency.
Check this out DELTA….I’ve always told the Family it is NOT the National Guard Law….we teach our Family it is the Conscript Law….well sure enough over the weekend there was an article that says the Conscript Law is being passed…..we explained to the Family that this is because of the militia….there are many different militia types running around in Iraq like a bunch of chickens without their heads on….they are not under one command, no leadership, these guys are doing whatever they want….this nonsense has to end…we need one command….
So last year the US started to pay the armies…..we told these armies to just watch….the next thing you know the terrorists are leaving or gone….now you see the Conscript Law……what that means is that Abadi is going to pay his soldiers…..all militias will be under one command, Abadi will be the Commander in Chief and I’m paying you through the GOI….how can they get this done unless they raise the value of their currency.
DELTA: Excellent point….all these articles and points in fact they can’t make it any more clear….they have so many things interconnected…Abadi knows the problems…..the CBI knows the problems…..the meeting in Lebanon….the CBI knowing the numbers….the IMF contract that should make investors more comfortable….people can’t withdraw their money from the banks….they want to demonstrate in front of the banks….
Can they afford to wait another 3 or 4 months…..no…..Abadi has to act….Iraq hangs in a very dangerous economic situation….but they are doing things, moving very fast with their efforts…in Iraq’s situation they must have money to have security….they have to move towards and into Article 8 to gain what they need….they need this as quickly as possible and I think they are moving in the right direction.
FRANK: Let me talk about the Iranian Rial for a bit….it turns out that Iran came out and said….look…we are not going to raise the value of our currency….until Iraq does…now they just recently said that….and that was an interesting article….but I’m sorry….I don’t trust Iran….IMO….I see Iran has a tendency to lie in order to get what they want…..I don’t know….maybe I’m misjudging them….maybe it is different now with the sanctions lifted….but the fact about this Monetary Reform that is occurring….Iran should not be talking about that…..
Iran should not come out and say we are going to raise the value of our currency the moment the sanctions are lifted….and then a few months later come out and say…..ok Iraq….we are not going to lift our currency value until you lift yours….Iran….Shut Up….that is what I see….that they don’t care….they are trying to speed up the process of them being able to lift the value of their money….if anything you believe that Iran is going to be polite and say….ok Iraq you can go first….they should….but these guys I don’t trust them….
I know they told Iraq ok you go ahead and go first…..who is talking about raising value….well we are…..well shut up about it…..the fact they are saying Iraq can go first they are telling you they are raising the value of their currency….and if Iran goes first….do you think they are going to say…..oh I’m sorry….they could care less…..they are not pegged to the IQD….Iran bothers me when they say these things…and they should shut up….it reminds me of the China Syndrome….when China raised their value around 1995….they were denying they would then the next thing you know…..BOOM.
DELTA: Iraq needs this….Iran does not need this as bad as Iraq….they are due to get $150 billion back in frozen assets….Iraq needs to go first….this is the only thing that is going to save them….remember the Rial is Article 8 compliant….Iran has money to survive on for a while….but Iraq has no liquidity….they can’t….right now Iran has a credible currency….they can use their currency to make payments….Iraq can’t….I just think we are getting very close…that the IMF plan is working.
FRANK: Remember when I-TEAM told us….after the 8th of February you are going to see a lot of pinpoint information….I gave it the title of empirical data….in our conversation today they told me something else…..
They said….after the 18th….Thursday….the progress of what you are seeing right now….will go much faster….wow….that says to me it is the CBI who will make the next move.
DELTA: This is all exciting indeed…..it will be exciting to see what that next move is going to be before the end of this month….looking back at the IMF contract and all the things they are telling them to do…..to be Article 8 compliant….they have a couple of hard fast things they must do by the end of February….not just with the Investment Law…..but lifting restrictions on the exchange rate….
So basically they need a true rate….what else is left to do…..Allak threw this party yesterday….why….to show his hand….to prove to people he can do the job….he’s going to look like the hero now….I’ve read this contract maybe 10 times and maybe I’m reading it wrong….but indirectly the IMF is telling Iraq you have to show me a new rate by the end of February….now the I-TEAM is saying a similar thing…watch for something to come from the CBI on the Arabic side….IMO….if they are following the IMF game plan then we should see a rate by the end of this month….if this doesn’t happen they are the losers.
DELTA out.
Dismissed with a prayer.
FRANK: Remember when I-TEAM told us….after the 8th of February you are going to see a lot of pinpoint information….I gave it the title of empirical data….in our conversation today they told me something else…..
They said….after the 18th….Thursday….the progress of what you are seeing right now….will go much faster….wow….that says to me it is the CBI who will make the next move.
DELTA: This is all exciting indeed…..it will be exciting to see what that next move is going to be before the end of this month….looking back at the IMF contract and all the things they are telling them to do…..to be Article 8 compliant….they have a couple of hard fast things they must do by the end of February….not just with the Investment Law…..but lifting restrictions on the exchange rate….
So basically they need a true rate….what else is left to do…..Allak threw this party yesterday….why….to show his hand….to prove to people he can do the job….he’s going to look like the hero now….I’ve read this contract maybe 10 times and maybe I’m reading it wrong….but indirectly the IMF is telling Iraq you have to show me a new rate by the end of February….now the I-TEAM is saying a similar thing…watch for something to come from the CBI on the Arabic side….IMO….if they are following the IMF game plan then we should see a rate by the end of this month….if this doesn’t happen they are the losers.
DELTA out.
Dismissed with a prayer.
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