11-7-12 BGG: Article: “The member of the legal committee in the House of Representatives, Muhsin al-Sadoun said that the committee has voted in majority to approve a bill to limit the tenure of the three presidencies. He said in a statement to the National Iraqi News Agency / NINA / that “The Committee held a meeting today 7, Nov and voted in majority on the draft law to limit the mandate of the three presidencies, which limits the mandate of any president of the three presidencies in two terms only.”
I did say this was headed our way – very BIG NEWS. They will limit the damage Maliki can do by limiting his tenure to 2 terms. This is the beginning of the “defeathering” process. I also predicted how much support there was for this too – huh?!? Read more at http://www.dinarupdates.com/blog/
11-7-12 Adam Montana: Well, for better or worse – it’s November 7th. Obama has been re-elected for a second term. Some of us are happy, some of us will probably get fired for throwing a computer monitor out a window at some point today. But no matter which side you are on, our elections have been decided and if you’ve read my last couple chats, you already know where I’m going with this. I firmly believed (and stated) that nothing would get done during the heat of that battle, and again I’ll say that I don’t expect anything to happen today or tomorrow either. There is a “watch and see” period happening right now
As in, the rest of the world is going to watch and see what Obama is going to do immediately now that he has taken his second term. I know I’m not the only one that understands this but now that Obama has no re-election to worry about or hold him back, we can expect to see some drastic movements on his part. Now, this could be a VERY good thing for us, even better than if Mitt Romney was elected. For one, Obama has had time to make connections and have the discussions with the people who matter in the Middle East. This is something Romney would not have had time to do, being busy campaigning.
Again – like it or not, Republican or Democrat, the fact remains that Obama has had more time shaking hands with foreign diplomats and it makes sense that things could happen much faster now. So, with all that said. It’s my opinion that the next couple days will be quiet in foreign news, and if it stays relatively quiet in domestic news. Then we could be looking at some positive movement! That’s pretty much it for the weekly update. I apologize that there isn’t anything more exciting, but we’ve probably had enough excitement with the elections anyway. Time to take a break and hopefully get back to business.
11-7-12 SocalDinar: “The value of the Iraqi dinar fall against the dollar at a rate of 11 points during the day on Wednesday to record 1210 per dollar.” I still see 1166 but on CBI site. Must be talking market value, but the CBI – PDF shows market value at 1205 not 1210. Oct 31st was the best market value at 1194.
11-7-12 SWFloridaGuy: Well, we waited for the House of Representatives to reconvene after yet another holiday. They were forced to disband after only 30 minutes for a lack of quorum. You’d think with so many important items on the docket (CBI policy etc.), deputies would show up for work. This is not a new phenomenon. Attendance is such a huge problem in parliament that they were actually forced to institute a penalty system. The parliamentary bylaws say that the parliamentary presidency can issue a written warning to deputies that are absent 5 times in a row or 10 times during the course of the legislative year.
Unfortunately, that system is corrupt also. There are plenty of loopholes deputies choose to abuse, whereby a distinction can be made between a legitimate absence (health reasons, away on business etc.) and they are rarely penalized for not showing up for work because of this. Iraq is moving forward IMO but they sure do it at their own pace, which is way too slow for us Westerners. Despite their best efforts, I do think that Iraq will become a leader in the region. Eventually, international pressure and corporate investment will appeal to the politicians sense of greed, which makes an economic recovery most likely inevitable.
11-7-12 Phoenix3333: Abbawi meets Kobler in Baghdad, Discusses Chapter 7 and Kuwait. “Undersecretary of Foreign Ministry for Policy Planning and bilateral relations, Labeed Abbawi discussed with the Special Representative of the Secretary-General of the United Nations in Iraq, Martin Kobler several topics including Iraq’s desire to get out of Chapter 7 and the implementation of mutual obligations in terms of decisions remaining of Kuwait. A statement issued today 7, Nov by the Ministry of Foreign Affairs said that Abbawi met, at the headquarters of the ministry, with Kobler and Stephen Vasil from the Department of Political Affairs of the UN with the presence of Associate Chairman of the Department organizations and international cooperation Khaldoun Jamia’a, and they also discussed, during the meeting, the situation in the region.” Read more
11-7-12 LoriC: The World Bank said that they are looking to “implement projects in Iraq and use their country as a model for attracting investments in Iraq.” I love that quote. We’ve also heard the IMF say that Iraq is a country that because of their wealth and natural resources have not been affected by the global economic crisis and will be a useful tool for rebuilding the world economy. It’s definitely taking longer than we thought it would but they also can’t risk this project falling apart either. It’s not just about the initial RV, which of course Iraq could justify. It’s also about maintaining that level. I think this was part of a ten year plan from the beginning and that’s where we are at. So, go RV!!
11-7-12 Finance Committee: Will work to speed approval of a pension and salary scale before the completion of the vote on the budget next year. The parliamentary Finance Committee it will go for the speedy adoption of the legal retirement him salaries of state employees before the completion of the passage of the federal budget for 2013 with a view to their entry into force next year. The Finance Committee will discuss and approve speed legal retirement him salaries of state employees before the completion of the vote on the federal budget for next year. Read more
11-7-12 Freebird: Iraq’s Foreign Ministry has released some very promising statements today about the possibility of their Chp 7 release after the meetings with Kobler from the UN. The UNSC seems to be in full support assuming they continue to follow through with reparations. I can’t think of a much bigger step for Iraq to take to show the world they are independent and and ready to stand on their own and use the dinar as their main currency once again. They are a proud people and using the currency of a country that they were at war with as their primary is not their goal. There was a report a couple weeks ago that this month they may issue some new lower denoms. They used the excuse that the old were damaged but lets see what happens. If the CBI is going to get the IQD to 1 to 1 by January they need to make a move soon. For what it’s worth, I do believe we are close. Keep the faith.
11-7-12 IQD: The value of the Iraqi dinar fall against the dollar at a rate of 11 points during the day on Wednesday to record 1210 per dollar. The value of the national currency the Iraqi dinar fell for the third straight day at a fast pace recorded value of the currency in the exchange markets day on Tuesday an exchange rate of 1210 dinars to the dollar drop of 11 points, and traders said the foreign exchange market, Iraqi dinar day Monday was 1199 dinars, while the exchange rate was Sunday 1188 dinars to the dollar, which means that the value of the Iraqi dinar was down by eleven points for a total decline of 48 hours only twenty-two points. Read more
11-7-12 Dispute: Sadoun said recent escalation between Maliki and Allawi dispute and further expanded compatibility. The expansion of the dispute between Iraq and the rule of law against the backdrop of recent statements by Prime Minister Maliki and leader of a coalition of Iraq, Allawi. While looking the President of the Republic for a solution and works the convergence of views escalate disputes, particularly between the political figures the task through the media, otherwise called him President Talabani in the past few days to stop the media statements. We need the wisdom and the waiver of the will of transcendence and put the interests of the country above all other considerations, but if he stayed two leaders Allawi and Maliki stance, the next page will be more on the country. Read more
11-7-12 Chapter VII: Kobler discusses Iraq’s desire to get out of Chapter VII. Foreign Ministry Undersecretary for Policy Planning and bilateral relations Abawi with the Special Representative of the Secretary-General of the United Nations in Iraq Martin Kobler Iraq’s desire to get out of Chapter VII. The meeting discussed several topics including the desire Iraq out of Chapter VII and the implementation of the mutual obligations in regards to the remaining decisions on Kuwait and also discussed the situation in the region. Read more
11-7-12 World Bank: Abawi looking with the World Bank representative in Iraq activities that the Bank seeks implementation in Iraq. Represented the World Bank in Iraq Marie-Helene during her meeting Undersecretary for Policy Planning and bilateral relations, however, Abawi, activities and projects that the Bank seeks to implement in Iraq. Helen confirmed its cooperation with Iraqi institutions in the areas of agricultural, industrial and service and investment in the implementation of World Bank projects in Iraq. Helen hoped to be the bank’s activities in Iraq a model for attracting investments in Iraq. Read more
11-7-12 Trade Agreements: America is approaching trade agreements with the Iraqi private sector. Resulted in the sixth day of the Baghdad International Fair for reaching formats agreement of principle to sign contracts investment partnerships between the Iraqi private sector and a number of Arab companies, especially in the areas of health, and as well as increasing the size of turnout of visitors to yesterday, and high frequency contracts.
Dozens of U.S. companies began stepping steadily toward the conclusion of agreements bilateral trade with their counterparts in Iraq, and in many areas, particularly equipment, banking and aviation and investment. came size post U.S. companies this year is wider than the past year, has reached 30 companies, diversified competencies between investment and aviation, banks, education, equipment and cars, and pay U.S. companies to presence in Iraq. Read more
11-7-12 Kaperoni: The Sad Truth – Many times I am like many of you, I wear my emotions on my sleeve. In fact, I think it may even be harder on me when I spend so much time researching this investment. We all hear the gurus come up with RV dates, or rates and this or that for the RV to occur. I have spent years putting piece by piece together in this puzzle hoping that it lead me down the path to the wealth we all are looking for.
The sad reality is, there are pieces to this puzzle that can never be foreseen, pieces that come out of no where and sidetrack this investment, pieces that we never anticipated. As a result, many of us become discouraged, many even sell their dinar, lose our homes & business assets as we have been waiting for this to play out. We have all been told… “never buy more than you can afford to lose” but the reality sinks in only when time runs out on our personal lives.
Tonight, I am really angry at this investment. Throughout our lives many of us may have been “close” to achieving something that could change our lives, maybe won a lottery, got that great job, or had that high level of success. You all know what I am talking about. You all know that feeling. Several times I mention in chats or our conference calls, that looking back at articles in this investment, often helps make the future more clear. Many times, articles make no sense at the time, only to shed light later.
I can say with absolute certainty (based on factual docs) that this event was to occur this past spring of 2012. There was no LOP, but a gradual rise in value to equal the US dollar. As stated by the CBI themselves… “central bank to raise the value of the dinar against the dollar gradually down to the day to start replacement where the value will be in the absence of a fluctuating one Iraqi dinars equivalent to U.S. dollars one.”
This quote, though dismissed at the time, clearly tells us, that the plan was not an overnight revaluation. But a gradual rise in value of the dinar to equal the dollar (float). 1 dinar to $1 USD or about. They even confirm that this event is really a two-step process in which at some point, they would start replacement of the currency (deleting 3 zero notes). This very paragraph came out in March 2012 at the very time Dr. Shabibi was preparing for this to occur.
The very time he was aggressively collecting 3 zero notes through the CBI’s own auctions. The very time the CBI stated they removed some 4 trillion a month (12 trillion dinar over March-May). And the very time the CBI stated… “all preparations are done.” And the very time the SIGIR report came out stating…”In April 2012, the CoM postponed indefinitely plans for a currency reform that would have removed three zeros from the Iraqi dinar in 2013 and required the issuance of new currency notes. The reform would have made the dinar’s value slightly less than $1.”
This information absolutely confirms Dr. Shabibi’s intentions were good. He was to raise the value of the dinar gradually to equal the dollar. Unfortunately, it also confirms that Maliki does not want this to occur. When you put the kind of time into this investment like the DA team does, it is very frustrating to say the least when the finish line was literally in front of us. When our goal as investors was within arms reach only to have Prime Minister Maliki take that from us.
Personally, I am saddened that we were so close, to be within a push of the button and the rate would have begun to rise. To then be sitting back and watching our investment gain value rather than this continued search for reasons as to why it has not happened yet? The question is, where do we go from here? The issues at the CBI are a major setback, clearly deliberate, how effective they are?, only time will tell.
To think the arrest of 20 or so CBI employees now sitting in a Maliki jail will not impact our investment is foolish…It will. To think that the railroading (up the Nile) of Dr. Shabibi will not effect this investment is also foolish….It will. There is a delicate balance for a dictator. He is consolidating power, yet not giving wealth to the country that could cost him that very power he seeks.
If he chooses to build a free market economy, and a middle class, he risks his own success by giving wealth to his opposition. Our recent Middle East guest (on our last conference call) made it clear as he talked extensively about Maliki, how he only knows one style of living, that he spent years in Iran, then Syria, and the effects of being raised in a policed state. Though Maliki may not be a obvious tyrant, he is a dictator and he will do whatever he can to stay in power. His views stated in April about a “weak dinar” policy seem very true. Remember the CoM stopped Dr. Shabibi in April (SIGIR confirms), later to find out it was Maliki himself that did this.
It makes no sense for him to give wealth to the people if the result risks his own success. That is the delicate balance he appears to be trying to manage. Taking control of the CBI gives him that much more oversight and control to do what he wants, when he wants. I am angry tonight because I know without Maliki in power, this event would have been over. That if Iraq had someone in that office that cared about the people, believed in democracy, and worked with the other Iraqi political blocks, Dr. Shabibi could have impacted not only the future of many Iraqis, but the worlds economic problems. I am angry because this was not just wishful thinking, but a reality so close it was within reach. Each and every one of us should know just how close we were to having our lives changed.
11-7-12 Footforward: Where are we in the process? We are just waiting for the last few pieces to be put in place so we can cash out safely, so the economy doesn’t fall apart after we cash out. The GOI has no say in the CBI. Maliki is not the problem, Shabibi is not the problem. Maliki & Shabibi have both been placed in their positions of power for a reason. Ignore everything coming out of Iraq. Iraq is not in control. Iraq wants a powerful currency, a strong currency, one that is recognized internationally. At the end of the day, they all want to RV their currency. We are at the precipice of this thing going, now is the time. The rate is going to be good & cash out will be easy.
11-7-12 Freeway Bill: We are on the brink of something very wonderful! Our journey seems to be at the end and our Blessing is upon us.
11-7-12 Poppy3: Dinar news is looking very positive, actions are showing they are priming for success. Dr Shabibi appears to be ready for his fight and he is sounding off about Maliki and standing his ground. Parliament now saying they will reconvene Thursday instead of next week. Kuwait saying all is well between them and Iraq and they are ready to release chapter 7 and so is Russia? Judges also preparing to hear Dr Shabibi. Like I said peeps things are looking good for all of us.