Chatroom Log Wednesday

[20:47:01] Tf: we are waiting here still…
[20:47:12] Tf: this year is winding down…
[20:50:35] TRC: Kurdistan going to sell gas to Europe
[20:50:44] Tf: yes, I saw that
[20:50:52] TRC: huge revenue maker
[20:51:14] Tf sent an audio message: Drumroll
[21:01:16] TRC: never imagined Kurdistan would be on verge of signing a gas deal with Europe so soon
[21:01:41] AMG: well my December rv potential thoughts are vanishing by the day lol
[21:02:05] AMG: yes, that surprised me too……….
[21:02:57] TRC: said.. pipeline was almost completed thru Turkey..
[21:04:21] TRC: they must have been working under cover
[21:04:29] TRC sent an audio message: Laugh
[21:06:25] TRC: rv can happen anytime. we don’t know, and there wont be any hints at or before that moment
[21:06:58] AMG: very true….no clues
[21:07:39] TRC: especially the further along this goes
[21:09:49] TRC: putting more things into place all the time
[21:12:18] AMG: the super-sized jigsaw puzzle is almost complete
[21:14:42] Suharto: December 15th will come, nothing happen yet?
[21:15:41] TRC: some are talking about custom tariffs, but nothing official yet on date
[21:16:15] Suharto: still just talking trc? hmm they like talking without action
[21:16:49] TRC: one guy was complaining.. saying it will cost too much to implement
[21:16:55] TRC: lol
[21:17:08] TRC: saying it will cost 1 billion dollars
[21:17:21] Suharto: whom who the guy complining? :P
[21:17:39] TRC: but another said it will cost Iraq billions if they don’t activate tariffs
[21:17:50] Suharto: 1 billon dollars is too small for Iraq :)
[21:17:54] TRC: :whistle:
[21:18:05] Tf: that’s it, TRC
[21:18:31] TRC: they are discussing things to media , as unnamed sources
[21:19:01] TRC: they stirring the pot to the media
[21:19:03] Tf: it is costing Iraq more to delay the rv, Suharto
[21:19:27] Suharto: agreed Tf
[21:19:36] TRC: many do not want to change
[21:19:49] Suharto: IMO they must sooner to rv
[21:19:54] Tf: yes
[21:20:11] Tf: IMO, Iraq wants this more than we do..
[21:21:09] Tf: TRC, I was thinking….it seems some of the politicians in Iraq don’t see the big picture…
[21:21:17] Suharto: I think who don’t want change who has gain in this status quo
[21:21:34] AMG: IMO those who do not want change are either scared of the change or clueless
[21:21:41] TRC: they have deals on importing junk from outside Iraq
[21:21:43] Tf: the new GOI is shaking things up….
[21:21:47] Suharto: Politician like to like not thinking
[21:22:12] TRC: new tariffs and WTO rules will ruin their businesses
[21:22:45] Tf: yes….progress
[21:23:16] Tf: I don’t believe those who don’t want this will be able to stop it….
[21:23:31] Suharto: TRC, trader doesn’t like tax or tariff or who making decrease their profit
[21:23:46] TRC: especially during Maliki’s term , lots of shady deals with iranian companies
[21:24:23] Suharto: but we must believe Abadi, he don’t want Iraq get deeper in economy crises
[21:24:36] TRC: new tariffs and WTO rules will pretty much shut down 50% of iranian imports
[21:25:05] AMG: Abadi appears to be a good man ………. for Iraq and it’s people
[21:25:12] Tf sent an audio message: Drumroll
[21:25:17] Suharto: TRC, about tariff law being to implement, has it effect for Iran?
[21:25:39] TRC: yes
[21:25:45] Suharto: As far I Know Iraq bought goods from Iran
[21:25:51] TRC: iranian goods are cheap
[21:26:08] TRC: Iraq is flooded with them
[21:26:23] Suharto: I think Iran don’t like tariff law because their goods will be expensive
[21:27:04] TRC: yes
[21:27:18] TRC: they cant sell them to GCC
[21:27:27] TRC: turks dont want them
[21:27:40] TRC: they are member of NATO and EU
[21:28:02] TRC: Pakistan is most likely biggest trader
[21:28:15] Suharto: I seen arab don’t like Iran :)
[21:28:22] Suharto: except Syria
[21:28:24] Tf: like we said before…’s complicated….
[21:28:54] Suharto: so if complicated our rv still holding up
[21:29:12] Tf: If we only knew everything that has been involved with this dinar revalue process….
[21:29:31] TRC: Pakistan is sunni , Iran is shiite.. so might be difficult trade
[21:29:57] Tf: yes, Suharto…..Iraq must move forward….they can’t stay where they are now….
[21:29:59] TRC: Iran exports lots to Russia most likely
[21:30:34] Tf: the dinar must be given a rate….
[21:30:41] Suharto: I hope more simplest for us
[21:31:52] Tf: a viable, tradeable rate…..a rate to hold its own on the international currency exchange…
[21:31:55] Suharto: btw, how is budget news now?
[21:32:16] TRC: Iraq wants to do more business with Jordan and GCC..
[21:32:28] Suharto: Abadi want the new budget must be done before new year?
[21:32:50] TRC: so increasing their exchange rate and activating tariffs will increase trade with gulf
[21:33:17] TRC: still working on budget
[21:33:28] Tf sent an audio message: Drumroll
[21:33:35] TRC: oil was down again today to 61 dollars
[21:33:58] Tf: yes
[21:34:12] TRC: cabinet still not sure at what price to set oil at in budget
[21:34:21] Suharto: trc, if Iraq have more than 33 trilion dinars in circulation, do you thin we can get high rate if dinar being rv?
[21:34:34] Suharto: *think
[21:35:55] TRC: we don’t know actual size in circulation
[21:36:10] TRC: those numbers could be flawed
[21:36:53] TRC: see there may be many damaged banknotes in bank’s basements across Iraq
[21:37:27] TRC: in Kirkuk alone was stated there is IQD15 billion in basements of banks
[21:37:38] TRC: worn out
[21:37:38] Tf sent an audio message: Drumroll
[21:37:50] Suharto: I seen the damaged only small denoms only
[21:38:21] TRC: for some reason, CBI never had these damaged banknotes destroyed over the years since 2004
[21:40:07] Suharto: news being quiet now :)
[21:40:17] TRC: so cash in circulation may be much less after damaged currency is destroyed
[21:40:35] Tf: Suharto, don’t you think that the Iraqi people have worn out the higher denoms?
[21:40:53] Suharto: TRC, do they use dual currency in their market place?
[21:41:27] Suharto: I seen in tv, they use dollar for daily transaction
[21:41:40] Tf: at the dinar’s present rate….they have to have a truckload of small denoms to purchase….
[21:42:16] TRC: in Kurdistan they used the dollar because of the conflict with Baghdad previously
[21:42:35] Tf: so…I can see that Iraq has many worn out higher denoms….
[21:42:36] TRC: Baghdad would not give them any money
[21:43:13] Tf: the deal between Erbil and Baghdad speaks volumes….
[21:43:57] Tf: both are winners….IMO
[21:44:41] Suharto: loved read that tF
[21:44:49] Tf sent an audio message: Drumroll
[21:45:04] TRC: yes Barzani loves new government under Abadi
[21:48:15] Tf: everything TRC taught us to look for in this dinar revalue process is unfolding before our eyes… by day….
[21:49:47] Tf: How he knew it… beyond me…but, he told us…..and it is happening just like he said it would….
[21:50:40] Tf: Thank you, TRC
[21:50:54] Tf: :bow:
[21:52:26] TRC sent an audio message: Are you sure?
[21:54:07] Suharto: how long do we wait now?
[21:54:34] Tf sent an audio message: Oh ohh!
[21:55:12] TRC: as long as it takes
[21:56:00] TRC: we have no choice
[21:56:03] TRC: do we
[22:01:27] Suharto: I seen Kurdistan will cover Europe needs for gas
[22:02:12] TRC: :)
[22:02:56] AMG: Yes, Kurdistan has gas (lol) and Europe needs it
[22:02:59] AMG sent an audio message: Laugh
[22:03:25] TRC: southern Iraq has more gas.. but pipeline has not been built yet to Kurdistan.. to be able to export
[22:03:51] TRC: to Europe..
[22:05:30] TRC: construction it seems goes faster in Turkey than Iraq
[22:06:26] AMG: that should improve for Iraq – with a budget and real rate
[22:06:58] TRC: the big plan is to export gas from Basra region
[22:07:56] TRC: for years just getting gas from oil field to power plant in Iraq was alot of work.. getting it to Europe even larger challange
[22:08:34] TRC: Iraq is importing gas from Iran, because Iraq’s infrastructure to move gas etc. is not up to par
[22:09:45] TRC: but Kurdistan is a notch above it seems
[22:11:26] AMG: yes, probably because Kurdistan was protected during the Gulf War
[22:12:48] TRC: there is still sunken ships in waterway on iranian border
[22:13:07] TRC: working on removing them
[22:13:48] TRC: most iraqi waterways are now clear of marine junk
[22:14:31] TRC: but the area on iranian border, has not had made anY deals to remove it, til now
[22:21:48] TRC: talk of building a bridge, and railway line across that waterway
[22:24:03] TRC: the bridge planned is a suspension bridge, but they got to clear the sunken vessels away
[22:24:29] teledive: wow that is a large undertaking…
[22:24:41] TRC: wanting to have direct connection from Iran right around gulf to Dubai
[22:24:57] TRC: by high speed rail
[22:26:05] TRC: but there are some political issues as well
[22:26:09] TRC: :*-/
[22:26:10] teledive: that is a large dream
[22:27:10] TRC: lots of plans
[22:27:12] teledive: but do-able
[22:27:13] TRC sent an audio message: Laugh
[22:27:46] TRC: Basra has plans to build building to compete with Dubai’s skyline
[22:28:14] TRC: there is picture, on the website here
[22:28:30] TRC: shaped like a guitar
[22:28:42] teledive: Dubai built that which is admired by all…
[22:29:38] Tf: “where there is no vision, the people perish”….
[22:30:10] TRC: the Basra building will be 100+ floors, but dont know how many years that will be
[22:31:24] teledive: vision is one thing they are envisioning the impossible dream!…just kidding tf that would be a true statement
[22:31:40] TRC: Basra stock market, and the times square is almost completed in central area
[22:31:52] teledive: yahoo
[22:32:19] TRC: Basra supposed to be economic center of Iraq eventually
[22:33:55] TRC: outside Basra the largest stadium in Iraq is located
[22:34:09] TRC: was finished last year
[22:34:24] TRC: holds 65,000
[22:34:35] Suharto: so Basra will become economic growth zone for Iraq :)
[22:34:43] TRC: as well as many new hotels
[22:34:57] TRC: and a smaller stadium
[22:35:29] TRC: the main stadium is surrounded by water
[22:35:54] TRC: got to walk on specified walkways
[22:36:22] TRC: there is many pictures and a video on here, website
[22:36:34] TRC: if you search for it
[22:37:18] Suharto: it means Iraq ready for rv :)
[22:38:38] TRC: when they do build something in Iraq it is top notch
[22:38:59] TRC: beautiful stadium
[22:40:56] TRC: Basra is relatively far from where the terrorists are causing issues
[22:41:21] teledive: they fight with the best of them but they play hard to!
[22:41:22] TRC: so they should be able to follow thru as long as they get the funding
[22:42:22] TRC: they are also building the largest sea port in western asia
[22:46:29] TRC: but for now Kurdistan is leading in infrastructure development
[22:46:53] teledive: same here…lol
[22:47:25] TRC: Basra took alot a damage during the previous three wars, it epicentre of all three
[22:47:44] TRC: not so much terrorism

Chatroom Log Sunday

[19:52:17] Tf: another great news day!!!!!!!!!!!!!!!!!!!1
[20:20:38] ale: so we close?
[20:20:47] Tf: let’s hope…
[20:21:05] Tf: never seen things moving like they are…..
[20:21:12] ale: agreed
[20:21:14] Tf: before now….
[20:21:35] ale: there was always a plan, never went anywhere
[20:21:58] Tf: yes
[20:42:40] TRC: kirkuk banks hold 15 billion IQD in damaged currency , been sitting for years
[20:43:15] TRC: how many other banks hold damaged currency
[20:43:27] TRC: that’s just one city
[20:56:37] design: wow….
[21:06:09] TRC: ok thats pretty interesting, we have been trying to deduct how many banknotes are out there
[21:06:27] TRC: the cashbloc keeps increasing
[21:07:22] AMG: hmm
[21:07:30] TRC: according to the article last posted, kirkuk banks hold 15 billion IQD of worn banknotes
[21:08:00] TRC: so how much more is there if you add up all banks in the country
[21:08:28] design: lots more……
[21:08:39] TRC: if CBI destroyed all, how much would cash bloc drop
[21:10:16] AMG: :*-/
[21:11:43] TRC: if you look at stats it says cash bloc is around 33 trillion+
[21:12:17] TRC: how much is sitting in basements of banks, too worn to use
[21:12:48] AMG sent an audio message: Yell!
[21:13:22] TRC: if CBI ordered all destroyed, what would actual cash bloc be
[21:13:55] AMG: ?????
[21:14:37] TRC: most of the damaged are most likely in Baghdad, Basra and Mosul
[21:15:07] TRC: kirkuk is not one of the largest cities
[21:15:49] TRC: there is approximately 7 trillion outside country
[21:16:37] AMG: my head hurts thinkin about it lol
[21:18:09] TRC: you cannot go by the number released
[21:18:57] TRC: it does not include the amount outside country, the amount that is sitting in bags in basements of banks
[21:19:15] TRC: too damaged to use
[21:19:20] design: yes
[21:19:39] TRC: just shows the amount printed and released for consumption
[21:20:03] TRC: it looks like none has been destroyed
[21:20:21] AMG: what are they waiting for
[21:20:50] TRC: they plan on lifting the zeros
[21:20:56] TRC sent an audio message: Bogus
[21:21:18] TRC: will destroy them then
[21:22:52] AMG sent an audio message: Oh Boy!
[21:23:04] design sent an audio message: Drumroll
[21:29:01] teledive: looks like lots of stuff happened today1
[21:29:04] teledive: !
[21:46:02] TRC: Basra exhibition attracts 252 companies that specializes on investing in oil
[21:46:16] TRC: from 31 countries
[21:46:36] TRC: and most people think Iraq is involved in a war
[21:46:43] TRC: :*-/
[21:47:24] TRC: Deputy Prime Minister Bahaa al-Araji, said Sunday that “the Council of Ministers confirmed the completion of the General Budget Law for the next few days.”
[21:48:04] TRC: the agreement that Iraq and the Kurdish government have reached helped the Iraqi Oil Ministry to increase its crude oil export capacity to reach an all-time high of 3.3 million bpd of oil since 1979 as the oil exports averaged 3.244 million bpd.
[21:50:06] TRC: “The problem about reducing unnecessary expenditure in the budget of the Ministerial Committee is considering the possibility of imposing taxes on some public services and raise the government support on them, such as electricity, water and some oil derivatives, as well as the increase of customs duties on some imported materials especially electrical appliances, in order to reduce deficit”
[21:51:21] TRC: The Iraqi Finance Ministry said in a statement, “Alsumaria News” received a copy of it, “Zebari led a delegation with the participation of the Central Bank, representatives of the Ministry of Planning and the Ministry of Oil, a number of financial and economic experts in the Jordanian capital Amman,” pointing out that “the delegation held, today, annual round of consultations”
[21:51:33] teledive: they eliminated the ghosts in the ranks…:)
[21:52:08] TRC: yes, its hard to find ghosts
[21:52:20] TRC sent an audio message: Are you sure?
[21:53:01] Tf sent an audio message: Drumroll
[21:54:03] AMG sent an audio message: Uh urh
[21:54:52] TRC: hard to believe Iraq exported 3.3 mbpd in last week
[21:55:02] TRC: isn’t there war going on?
[21:55:09] TRC: :*-/
[21:55:09] AMG: wow
[21:55:19] design: hmmm
[21:55:38] AMG sent an audio message: Are you sure?
[21:56:01] TRC: but remember… Iraq’s target for 2014 was closer to 3.7 .. by end of year.. ISIS screwed that up
[21:57:17] teledive: ask and ye shall receive
[21:57:18] teledive: :)
[21:58:20] Tf: you are making me anxious…
[21:58:45] Tf: yes, great news!!!!!!!!!!!!!!!!!!!!!
[21:59:06] teledive: hence the noise!
[21:59:33] Tf: I was almost asleep…..
[21:59:42] AMG sent an audio message: Oh ohh!
[21:59:56] Tf: I knew something was up……
[22:00:57] Tf: you made me think our time was here….
[22:02:00] teledive: sorry…:(
[22:02:07] Tf: that we have waited on so long……
[22:02:36] Tf: please don’t, teledive
[22:02:51] teledive: :)
[22:03:23] Tf: I couldn’t resist seeing what was going on…..
[22:05:07] TRC: :)
[22:09:06] TRC: The promise of the Director-General of the Rafidain Bank, “revisit the clearing system does not mean that there was something wrong as far as the need for more explicit details, more training for employees,” he continued that the “incident prompted the bank with the central bank to put more stringent controls, to develop the system and more control”.
[22:09:36] TRC: concerning the missing millions
[22:09:54] TRC: most has been found
[22:10:19] AMG sent an audio message: Oh Boy!
[22:10:29] Tf sent an audio message: Oh Boy!
[22:13:01] TRC: need to increase training of bank employees
[22:13:32] TRC: that’s why money went missing
[22:13:41] Tf sent an audio message: Drumroll
[22:13:45] AMG: ok
[22:14:00] AMG: feels better now
[22:14:04] AMG sent an audio message: Laugh
[22:14:15] TRC: there was some criminal element.. too, they for most part have been found
[22:15:11] TRC: the system is fool proof, there is electronic trail, where ever money goes, cannot be wiped clean
[22:15:22] TRC: latest technology
[22:15:35] AMG: audit trails…………………..nice
[22:15:46] TRC: the criminals tried to steal money..
[22:16:00] TRC: and the bank employees fell for it,
[22:16:42] TRC: but when the experts came in, they found , the employees made some mistakes,
[22:16:56] TRC: so more training
[22:19:51] Tf sent an audio message: Drumroll

Chatroom Log Thursday

[20:24:08] TRC: what you think
[20:24:17] AMG: is doing good and you
[20:24:20] Tf sent an audio message: Oh ohh!
[20:24:48] Tf: who’s going to speak up???
[20:25:00] Tf sent an audio message: Drumroll
[20:25:42] TRC: spreiken de deutsch
[20:26:15] AMG: guten tag
[20:27:45] AMG: what’s news?
[20:28:03] TRC: pretty quiet today
[20:28:11] AMG: Is Abadi back in the future capital of the ME
[20:28:39] AMG: oh well, we were due for a slow day (or 2)
[20:28:46] TRC: UN and cabinet General Secretary signed agreement on 4 year plan
[20:28:54] Tf sent an audio message: Drumroll
[20:28:58] teledive: it’s the quiet before the storm!
[20:29:05] Tf sent an audio message: Drumroll
[20:29:11] teledive: the eye of the hurricane
[20:29:22] teledive: lol
[20:29:53] TRC: last nite there was another post on tariffs.. saying all imported goods now apply tariffs
[20:29:54] AMG: yup Iraq is doing very as they prepare to enter the global marketplace
[20:30:05] Tf sent an audio message: Drumroll
[20:30:12] TRC: just small announcement
[20:30:20] Tf sent an audio message: Oh Boy!
[20:32:11] TRC: Abadi is in Baghdad yes
[20:32:44] Tf sent an audio message: Drumroll
[20:35:16] AMG: hopefully we’ll more good news over the weekend
[20:35:21] AMG sent an audio message: Drumroll
[20:35:52] TRC: seen a lengthy article, not sure how accurate it is..saying Abadi is going to remove Allaq as governor of CBI
[20:36:26] TRC: not sure how accurate or the source
[20:36:29] teledive: I saw an article saying that that it was to be a radical change?
[20:36:29] design: it say why
[20:36:35] AMG: hmm
[20:36:54] TRC: associated with funds that disappeared under Maliki
[20:37:08] design: i see….
[20:37:15] AMG: oh
[20:37:30] TRC: Maliki installed Allaq as cabinet General Secretary, under his administration
[20:37:37] AMG: if true, we should see more articles soon
[20:37:40] design: put Shabibi back in….
[20:37:52] AMG sent an audio message: Drumroll
[20:38:06] design: :)
[20:38:43] TRC: he may be Maliki’s man , last one installed by him in sensitive position
[20:38:50] AMG: that would be fitting…seeing that Shabs was the architect
[20:39:03] design: agreed
[20:39:28] TRC: but could be bs as well
[20:39:39] design: and back in town
[20:39:41] AMG: true
[20:39:52] TRC: have not seen any more articles on Hashemi being in Iraq..
[20:40:03] TRC: only seen one
[20:40:30] TRC: he was supposed to be living in Qatar
[20:42:40] TRC: lots of articles on Maliki, but most I think are rumors, because I never seen Abadi say anything about him officially
[20:44:26] TRC: very tricky , when posting political articles, you find it hard to see truth from fiction
[20:45:01] design: i bet…
[20:45:55] TRC: if Maliki can be prosecuted for illegal activities Abadi most likely will do so
[20:46:13] AMG: ;)
[20:46:15] TRC: he is turning everything upside down
[20:47:00] design: :)
[20:47:50] teledive: as well he should but the reform website had mostly rumors along with the reform CBI article….i.e. Maliki was stealing billions or the translation was weak
[20:48:56] teledive: my hats off to you trc for sifting through the mountains of the articles that are out there
[20:49:32] TRC: ;)
[20:50:03] AMG: ditto
[20:50:07] AMG sent an audio message: Drumroll
[20:51:15] TRC: I think Shabibi may be too old , or not want job , as CBI governor, but I have never met him
[20:51:17] teledive sent an audio message: Yahoo!
[20:51:34] TRC: not sure how old he is now
[20:54:08] TRC: must be 70 anyway
[20:54:57] AMG: he is 73
[20:55:53] AMG: he is old enough but not too much
[20:55:57] AMG sent an audio message: Laugh
[20:56:06] TRC: might have a couple more years in , if he is anything like My grandfather he will
[20:56:49] TRC: grandfather was full of energy up into his 80’s
[20:57:02] AMG: nice
[20:57:41] TRC: might see Shabibi restored.. we will see
[20:58:06] design: maybe… :)
[20:59:18] TRC: remember him wanting zeros removed a couple years ago
[20:59:25] TRC sent an audio message: Laugh
[20:59:42] AMG: yes
[20:59:58] design: i remember
[21:00:01] TRC: very outspoken governor of central bank
[21:00:14] TRC: Maliki was intimidated by him
[21:00:56] TRC: Maliki said “he thinks he is an emperor or something”
[21:01:01] TRC sent an audio message: Oh Boy!
[21:01:32] AMG sent an audio message: Oh Boy!
[21:02:29] TRC: Shabibi was just very smart man, and at times he spoke when he should have been quiet
[21:03:15] design: yes
[21:03:21] TRC: Maliki’s economic adviser was totally against Shabibi’s ideas
[21:03:37] design: lots of friction
[21:03:41] AMG sent an audio message: Say What?!
[21:04:14] TRC: Antoine.. but Saleh is Abadi’s adviser
[21:04:39] design: the talking machine lol
[21:05:01] AMG: lol
[21:05:17] TRC: Antoine disagreed with just about everything Shabibi thought
[21:05:33] TRC: and he told Maliki
[21:05:39] design: too bad
[21:05:59] TRC: Maliki had to find a way to get rid of him
[21:06:11] AMG: and he did
[21:06:28] TRC: IQD value went down in value big time when Shabibi left
[21:06:54] TRC: took a year and a half to get it stable again
[21:08:33] AMG sent an audio message: Oh Boy!
[21:09:02] TRC: that was the reason they could not delete zeros then , IQD was too unstable
[21:09:09] TRC: :whistle:
[21:09:35] TRC: its been very stable and strong, in 2014
[21:09:44] AMG: no excuse now
[21:09:50] AMG sent an audio message: Drumroll
[21:10:01] TRC: they using ISIS now as excuse
[21:10:15] TRC: they nay sayers
[21:10:33] AMG: ISIS is being “handled”
[21:11:18] design: yes AMG… no excuse now
[21:12:00] TRC: customs tariffs full implementation has been approved, but they got to give date to activate,
[21:12:56] TRC: will be announced by Ministry of Finance, Transportation.. etc
[21:13:27] TRC: got to give companies a few days notice
[21:14:24] design: :)
[21:15:31] design: once approved and announced, whats really left?
[21:15:46] AMG: exchange
[21:15:56] AMG: ;)
[21:16:07] design: ok
[21:18:42] TRC: there is those 6 money exchange companies, mentioned in Iraqi stock market news were going to be trading.. have not begun yet
[21:21:51] design: ok
[21:22:36] TRC: can only assume, they are going to be working in Forex department
[21:22:52] AMG: seems like the ISX homepage was rearranged,
[21:26:11] TRC: can assume that those companies will start in new year
[21:26:32] TRC: and a new Iraq bank
[21:26:49] TRC: cant recall name of the bank
[21:27:01] TRC: Transiraq..
[21:27:06] TRC: I think
[21:29:30] TRC: The Iraqi Securities Commission (ISC) had approved the Iraq Stock Exchange (ISX) board of governors’ decision to list two banks and eight money exchange companies on the ISX
[21:30:04] TRC: 1) The National Islamic Bank, 2) The Trans Iraq Bank For Investment, 3) Al-Taif Company For Money Exchange, 4) Mo’tta Company For Money Exchange, 5) Sama Baghdad Company For Money Exchange,
[21:30:32] TRC: 6) Al- Arabiya Company For Money Exchange, 7) Al-Iraqia Company For Money Exchange, 8) Al-Harir Company For Money Exchange, 9) Atta’ Al-Ghari Company For Money Exchange, 10) Al-Muhij Company For Money Exchange.
[21:30:53] TRC sent an audio message: Drumroll
[21:33:06] TRC: that was posted on Rabee Securities
[21:34:12] design sent an audio message: Drumroll
[21:34:30] AMG: it was ty
[21:34:36] AMG: TRC
[21:36:24] AMG: wonders if Warka will be allowed to trade on the ISX
[21:36:56] AMG: have not traded for several years now
[21:46:36] AMG: good to see those exchange companies listed on the ISX…………..and ready to go ^.^
[21:46:59] TRC: :)
[21:53:08] TRC: makes you think
[21:55:04] AMG: :*-/
[21:55:55] AMG: is ready to jump on the ISX………..soon
[21:56:02] AMG sent an audio message: Drumroll
[21:58:13] TRC: they have been approved
[21:58:26] TRC: but thats all know of
[21:59:05] TRC: another soon..
[22:05:05] AMG: yes’
[22:08:11] AMG: Tourism/Hotels index prices on the ISX are high…..compared to other indices….hmm
[22:09:12] AMG: Banks are doing well and priced decently for now
[22:17:58] TRC: banks tend to always do well
[22:18:01] TRC: lol
[22:18:31] TRC: savings accounts/ checking accounts are up at banks every year
[22:19:11] TRC: as Iraq’s younger generation become adults they are opening bank accounts
[22:21:53] AMG: likes that
[22:22:34] TRC: banks are always good safe place usually
[22:22:46] TRC: might be odd bad apple
[22:23:58] TRC: the big banks make profits every year
[22:24:10] TRC: no matter what economy does
[22:24:13] TRC sent an audio message: Laugh
[22:24:49] AMG: lol
[22:26:49] TRC: in a developing economy even better bet
[22:26:58] TRC: they are affordable
[22:28:09] AMG: for sure
[22:30:37] AMG: not sure if I can purchase now….as they have not been updated since 10/16…
[22:31:25] AMG: will try to get a hold of Warka on Sunday to find out
[22:34:48] AMG: nice post on USAID….career fair and such
[22:35:46] AMG: especially like the year – 2014
[22:35:50] AMG sent an audio message: Oh Boy!
[22:38:18] TRC: Central Bank announces the formation of a committee to investigate the theft of 500 billion dinars from the Rafidain Bank
[22:38:30] TRC: Abadi is not pleased
[22:38:36] TRC sent an audio message: Drumroll
[22:39:33] AMG: yup, i bet

Chatroom Log Tuesday

[20:40:42] Tf: great news today!!!!!!!!!!!!!!!!!!!!!!!!!!
[20:41:15] TRC: I like that article , parliament Deputy Speaker said to german government they intend to lift all restrictions in investment law
[20:41:38] design: things really seem to be coming together rather quickly!
[20:42:18] design: as you say”convertible currency”
[20:42:41] TRC: remember , last week parliament speaker said they were going to approve investment law amendment, but didn’t happen for some reason
[20:45:28] design: yes
[20:47:46] TRC: something needs done first?
[20:48:47] TRC: budget?
[20:50:33] design: maybe so!!
[20:55:44] AMG: are we there yet????
[20:55:46] AMG sent an audio message: Laugh
[20:56:15] teledive: soon…:)
[20:56:37] TRC: Abadi moved pretty fast, getting it approved at cabinet meeting
[20:56:39] AMG: very soon?
[20:56:55] teledive: yes! Abadi don’t play!
[20:57:07] AMG sent an audio message: Yahoo!
[20:57:45] TRC: got it written in budget in duplicate as official in less than 24 hours
[20:59:46] TRC: and he has lots of time to meet his deadline
[21:00:10] TRC: am very optimistic he will meet it
[21:01:22] AMG: more great news///////
[21:02:52] AMG: We congratulate the Iraqi and Kurdistan Regional Governments on reaching a broad agreement on revenue management and oil exports originating from the Iraq Kurdistan Region and Kirkuk. This resolution, in line with its constitution, allows all Iraqis to benefit equitably from Iraq’s hydrocarbon sector. This agreement will further strengthen both Iraq’s Federal Government and the Kurdistan Regional Government
[21:03:40] TRC: yes the UN and Washington have congratulated them
[21:03:49] AMG: from: Marie Harf Deputy Department Spokesperson, Office of the Spokesperson Washington, DC December 2, 2014
[21:03:54] AMG sent an audio message: Drumroll
[21:04:03] AMG sent an audio message: Yahoo!
[21:04:31] TRC: getting approved in cabinet is about as official as you can get
[21:04:58] AMG: just when we think news can’t get any better……………….IT DOES
[21:05:43] AMG sent an audio message: Say What?!
[21:06:00] TRC: would take a week to get to cabinet with Maliki
[21:06:22] TRC: Abadi does it in less than 24 hours
[21:06:30] AMG sent an audio message: No Way Dude!
[21:06:37] AMG: ^.^
[21:06:57] TRC: Abadi told Barzani wait, stick around until tommorrow, you can watch cabinet approve this
[21:07:04] TRC sent an audio message: Drumroll
[21:07:13] design: :)
[21:07:14] AMG sent an audio message: Drumroll
[21:07:19] design sent an audio message: Drumroll
[21:08:06] TRC: see maliki in state law party, not ex pm maliki, another one.. said government is giving away all our riches to kurdistan
[21:08:16] TRC: :whistle:
[21:08:47] TRC: might be a cousin of nouri
[21:08:56] TRC sent an audio message: Clear Throat
[21:09:14] AMG: or evil twin
[21:09:20] AMG sent an audio message: Oh ohh!
[21:11:08] TRC: Abadi cut his salary by 50%
[21:11:18] TRC: and rest of cabinet
[21:11:42] TRC: most likely trying to lead by example
[21:11:47] AMG: yup – deficit reduction
[21:11:55] TRC: hoping parliament will do same
[21:13:01] TRC: he will get this done in next few days, am quite confident
[21:13:33] AMG: works for me :whistle:
[21:14:17] TRC: never seen maliki getting involved with budget, that was minister of finance job
[21:15:22] TRC: Abadi is getting involved in everything
[21:15:37] design: is he ever!
[21:15:45] TRC: his fingers are very long
[21:16:14] AMG: hands-on
[21:16:43] TRC: was involved in Minister of Justice today too, told them anybody arrested without a legal warrant will be prosecuted
[21:16:51] AMG: but not micro-managing
[21:16:54] Tf: I read somewhere that Maliki was the highest paid leader of any country…bar non…
[21:17:09] Tf: It was unreal what he was making as PM
[21:17:31] AMG: cuz he helped himself to…….whatever he could
[21:17:36] AMG sent an audio message: Laugh
[21:17:50] TRC: he got just a job , to protect him from prosecution temporarily
[21:18:57] TRC: most likely working on immunity
[21:19:00] Tf: great news today!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!1
[21:19:44] Tf sent an audio message: Oh Boy!
[21:20:05] AMG sent an audio message: Drumroll
[21:20:25] TRC: dont know what to expect tomorrow
[21:20:54] TRC: Abadi is supposed to be going to Europe for NATO meeting
[21:20:56] Tf: me, either, TRC
[21:21:06] TRC: not sure what day
[21:21:16] Tf: things are moving in the fast lane now…..
[21:21:52] Tf sent an audio message: Oh Boy!
[21:22:01] TRC: he is doing such a good job, there is increasing threat of assassination..this is middle east
[21:22:21] AMG sent an audio message: Say What?!
[21:22:31] TRC: hopefully he has good security team
[21:22:40] AMG: say it ain’t so
[21:22:41] Tf: We can only hope
[21:23:11] TRC: well Abadi is arresting and firing many corrupt people in various ministries
[21:23:16] AMG: first ive heard that tidbit
[21:23:19] Tf: for Iraq’s sake and for our long awaited rv
[21:23:32] AMG: ohhh’
[21:24:05] TRC: he is basically turning place upside down, therefore threats of assassination are quite possible
[21:24:35] Tf: yes, you are right, TRC
[21:27:39] TRC: rumors all the time of maliki planning a coup
[21:27:53] Tf sent an audio message: Bogus
[21:27:55] TRC: but as far as I can tell just rumors
[21:28:04] Tf: let’s hope
[21:32:25] TRC: US Airforce is sending warthogs to attack ISIS
[21:32:56] TRC: left Afghanistan are in Kuwait
[21:40:02] TRC: Abadi has left Iraq
[21:40:13] TRC: will see if the mice play
[21:40:16] TRC sent an audio message: Drumroll
[21:40:27] TRC: :-o
[21:40:50] Tf sent an audio message: Drumroll
[21:43:54] Tf: Do you mean Abadi has left Iraq for the NATO meeting in Europe, TRC???
[21:44:06] Tf sent an audio message: Drumroll
[21:44:31] TRC: Brussels
[21:44:59] Tf: I sure hope he has a good security team also.
[21:45:20] TRC: NATO mentioned earlier this week, they are ready to assist Iraq in any way they see fit..
[21:45:24] Tf: He surely is playing hardball…
[21:45:44] Tf: that is just what is needed…
[21:45:46] TRC: so Abadi can pick n choose what he would like
[21:46:14] TRC: anything short of troops I imagine
[21:46:31] TRC: Iraq is kicking butt now
[21:46:41] TRC: they dont need troops
[21:47:48] Tf: It looks to me that many nations are ready and willing to help Iraq….
[21:48:01] Tf: there are many dogs in this fight.
[21:48:31] Tf: many who stand to lose if Iraq is taken down….
[21:48:57] Tf: many who stand to benefit if Iraq is prosperous and secure
[21:49:44] Tf: like we said before…..things are complicated…..
[21:50:12] TRC: if you look at photos , with Abadi and others in the room, they look like children
[21:50:27] TRC: Abadi is the daddy
[21:50:47] TRC: he truely controls the room
[21:51:13] Tf: Let’s just hope Abadi can be successful in his endeavors…..for Iraq’s sake and ours..
[21:51:45] TRC: maliki really did not have a clue half the time
[21:51:58] TRC: Abadi knows everybody’s job
[21:52:12] Tf: It is very encouraging that young Iraqis are wanting Iraq to prosper.
[21:53:25] TRC: Abadi seems to know just by looking at someone , what he is about
[21:53:45] Tf: that is a gift
[21:53:53] TRC: the Kurdistan leader Barzani, seemed in awe of him as well
[21:54:04] Tf: you don’t learn that from books
[21:54:37] TRC: maliki was not awed by kurds , they challenged him
[21:56:06] Tf: Can you imagine the wealth of the deal that Erbil just made with Baghdad???
[21:56:37] Tf: Not so much now…..but, post rv, I mean
[21:57:08] TRC: Iraq’s oil exports will increase
[21:57:33] TRC: by about 400,000 to start
[21:57:47] Tf sent an audio message: Drumroll
[21:58:18] TRC: by summer will be close to million.. just from turkish port
[21:58:39] Tf: and that is just Erbil’s part…..Baghdad is to benefit also
[21:58:52] Tf: there is no way that the dinar will remain at 1166
[21:58:57] TRC: if saudi pipeline comes back on line, another addition
[22:00:19] TRC: Kirkuk oil will be exported thru kurds pipeline to turkish port
[22:00:37] Tf: IMO, the CBI can write their own check……I mean, I am sure they can justify the rate that they will set for the dinar
[22:00:54] TRC: there has been no oil exported from Kirkuk since last march
[22:01:24] TRC: Kirkuk oil is now being exported thru kurds pipeline
[22:01:29] Tf: do you really think that they would start the rate at $1.00?? I don’t see how they can justify it that low…
[22:02:01] Tf: jmho
[22:02:32] TRC: according to draft budget, pipeline supposed to take 550,000 barrels a day to mediterranean port of Ceyhan Turkey
[22:02:47] Tf sent an audio message: Drumroll
[22:03:07] TRC: that is added to oil exports numbers of Iraq
[22:03:29] TRC: which have not been added this past year
[22:03:57] TRC: that automatically pushes exports well over 3 million
[22:04:12] Tf sent an audio message: Yell!
[22:04:35] TRC: Saudi pipeline, could carry most likely 200,000 barrels per day
[22:05:23] TRC: Basra is currently exporting around 2.5 million barrels per day
[22:05:37] TRC: at seaports
[22:05:44] Tf sent an audio message: Yell!
[22:06:15] TRC: a new jordanian pipeline to its sea port is in works too..
[22:06:24] Tf sent an audio message: Drumroll
[22:07:46] Tf: I think the deal between Erbil and Baghdad speaks volumes..

Chatroom Log Wednesday

[20:38:55] TRC: lots of good news again today
[20:39:03] TRC: in dinar land
[20:39:36] teledive sent an audio message: No Way Dude!
[20:39:44] teledive sent an audio message: Yahoo!
[20:39:56] teledive sent an audio message: Yell!
[20:40:29] TRC: Baghdad sent kurdistan 500 million today per agreement on oil exports
[20:41:21] TRC: the kurdish delegation were supposed to be in Baghdad today for meetings but was postponed until after the upcoming OPEC meetings
[20:44:32] TRC: anyways….
[20:45:16] TRC: cabinet announced increasing available credit for private banks to 10 million dollars from 4 million
[20:45:37] TRC: allowing them to participate more in business
[20:45:56] TRC: since government banks have basically no limits
[20:46:24] TRC: if they want to create free market, private banks need to lead
[20:46:41] TRC sent an audio message: Drumroll
[20:46:50] AMG: nice\
[20:46:57] teledive: sweet
[20:48:48] TRC: now we have discussed customs tariffs law , now last year on December 15th, they started partial activation
[20:49:12] TRC: this year could be full implementation on December 15th
[20:49:30] TRC: today another clue it may happen
[20:49:36] TRC: according to the statement expanding the border crossings, especially the Ibrahim Khalil border crossing for the expansion of trade, the establishment of an electronic system for the granting of export and import licenses to connect all border crossings with each other through this electronic system.
[20:49:58] TRC: this was from Kurdistan’s cabinet
[20:50:39] TRC: which many in Baghdad accused of not following thru with federal government’s plans on customs tariffs activation
[20:51:09] TRC: looks like Kurdistan is following federal plans
[20:51:18] teledive: awesome and ISX had news as well?
[20:51:30] TRC: there is more
[20:52:00] teledive: oh sorry…didn’t mean to interuppt…^.^
[20:52:49] TRC: now from old talk from parliament on customs tariffs law, they discussed that a currency reset should be done at same time or closely , so there is no shock to economy, one would help the other
[20:53:32] TRC: so would deem like a currency reset, is possible in December
[20:53:50] teledive: if not sooner…:)
[20:54:17] TRC: The Iraqi Securities Commission (ISC) had approved the Iraq Stock Exchange (ISX) board of governors’ decision to list two banks and eight money exchange companies on the ISX.
[20:54:19] teledive: as ron popeil says but wait there’s still more
[20:54:41] TRC: this is very unusual,
[20:55:16] TRC: all these companies basically doing same thing coming online at same time
[20:55:52] TRC: like the invention of the television, created ten tv companies
[20:56:44] TRC: why would you need 8 money exchange companies being launched on ISX at same time
[20:57:09] teledive: in order to facilitate the demand
[20:57:23] TRC: and the The Trans Iraq Bank For Investment
[20:57:39] TRC: which is first I heard of
[20:57:52] teledive: sorry if that was retorical…:)
[20:58:20] TRC: the news just keeps getting better
[21:00:09] TRC: Saleh confirmed he has been called on by the Prime Minister to solve the financial crisis and stop the loop holes
[21:00:35] TRC: we should expect alot of talk from him, he likes to talk
[21:01:09] TRC: Shabibi will be happy for him , and Iraq
[21:09:43] TRC: looks like next potential rv date is December 15th, but of course will most likely be a day not so stand offish
[21:10:32] TRC: but the customs tariffs law will most likely be implemented that day
[21:11:17] Stormy: Why wait til 15th?
[21:11:44] TRC: last year on that day it was partially implemented
[21:13:24] TRC: much evidence they are done creating the infrastructure to fully activate
[21:13:52] TRC: except the border with Syria, obviously
[21:14:04] TRC: :-o
[21:14:06] Stormy: So, why is the 15th next potential date? Could it be before? Just asking
[21:14:32] TRC: the currency reset can happen anytime
[21:14:46] Stormy: ok
[21:15:08] TRC: but, the customs tariffs law is like a flag waving saying it is close
[21:15:16] Stormy: I agree
[21:16:15] TRC: there are many flags waving saying the currency will be convertible soon

Chatroom Log Monday

[21:34:37] Suharto: we have more good news now :)
[21:35:08] TRC: oh whats new ?
[21:35:45] Suharto: Oil Minister: Oil revenues to be distributed among all Iraqis equally
Baghdad ( The Minister of Oil, Adil Abdul Mahdi, said that Iraq’s oil revenues will be distributed among all Iraqis without discrimination according to the constitution. /End/
[21:36:07] Suharto: IMO article 140 is done
[21:36:49] Suharto: HCL is done, just waiting approval :)
[21:38:07] TRC: article 140 is distributing land formerly owned by people , before saddam took it away from them , many years ago, not oil revenues Suharto
[21:38:37] TRC: article 140 is mainly an issue in Kirkuk region
[21:39:00] Suharto: ouw, but it still great news :)
[21:39:04] TRC: yes
[21:39:29] TRC: see saddam took away kurdish land gave it to arabs
[21:39:53] TRC: tried to wipe out kurds
[21:40:11] Suharto: imo that issue will be done soon
[21:40:59] TRC: article 140 takes long time, need to look at each demand individually
[21:41:35] Suharto: how is our rv? will need article 140?
[21:41:30] TRC: it is not related to IQD being convertible outside Iraq
[21:41:44] TRC: but it is important
[21:41:57] TRC: to uniting Iraq
[21:42:44] TRC: the city of Kirkuk is on border with Kurdistan
[21:42:44] Suharto: hmm, understood trc
[21:43:01] TRC: Kirkuk also has alot of oil
[21:43:48] TRC: Basra area has most of the oil in Iraq
[21:44:07] Suharto: Kirkuk has oilfield?
[21:44:09] TRC: but Kirkuk is second
[21:44:45] TRC: the oil fields are shut down right now due to ISIS, the pipeline is closed
[21:45:17] Suharto: I am afraid it has effect to our rv
[21:45:55] Suharto: if rv Iraq need a lot of money for covering rv
[21:46:17] TRC: because of the oil agreement with Kurdistan few days ago, now are talking of exporting Kirkuk oil thru Kurdistan’s pipeline to Mediterranean sea
[21:46:38] Suharto: Peshemerga still try to take over Kirkuk
[21:47:28] TRC: Kurdistan’s pipeline is operating, it is capable of carrying 500,000 barrels per day, but is only exporting 150,000
[21:47:48] TRC: they could export Kirkuk’s oil too
[21:48:41] TRC: last year Kirkuk was exporting 400,000 barrels per day thru its pipeline
[21:49:12] Suharto: that’s lot of money trc
[21:50:25] TRC: but, with recent diplomatic agreements with saudis, Iraq could maybe use the pipeline to red sea, once again.. saudis closed it , in 1980’s
[21:51:23] TRC: saddam built pipeline thru saudi arabia to red sea
[21:51:29] Suharto: so Iraq getting close to saudi now
[21:51:39] Suharto: speaker flied to saudi now
[21:52:08] TRC: yes saudis and Iraq seem to becoming friends again
[21:52:37] TRC: they have had no diplomatic relations since 1980’s
[21:52:47] Suharto: it is good for us
[21:53:06] Suharto: it will bring stability in region
[21:53:14] TRC: yes, and could be be what is needed for Iraq to get into GCC
[21:54:41] Suharto: Saudi Arabia has the key for supporting Iraq entering GCC
[21:54:50] TRC: could be
[21:55:13] TRC: they are the largest OPEC member and biggest GCC member
[21:55:19] Suharto: IMO GCC will help Iraq for against isis :)
[21:55:52] Suharto: Iraq need support politics from each member of GCC
[21:56:03] Suharto: to isolate ISIS :)
[21:59:26] TRC sent an audio message: Drumroll
[22:00:50] Suharto: trc, I seen article who wrote smart card already activate ?
[22:01:29] TRC: they have smart card
[22:01:38] TRC: and credit cards
[22:02:06] TRC: but globally, they use USD for international transactions
[22:03:30] Suharto: hmm, it is sad for me. I though they use dinar
[22:04:12] TRC: the IQD when it is convertible it will be higher value
[22:04:58] Suharto: I hope sooner trc :)
[22:06:36] Suharto: usually the end of the year news become slow but now we have good news every week
[22:07:04] TRC: last year it was really quiet
[22:07:31] TRC: but this year I dont see any quiet, just more good news every week
[22:09:38] Suharto: yes trc, Abadi done everything can’t be done by maliki

Chatroom Log Sunday

[21:28:09] Suharto: TRC, I have article about IQD Rates:
[21:28:42] TRC: rates?
[21:28:55] Suharto: how is that article?
[21:29:14] Suharto: yes, that article about dinar prediction
[21:30:05] Suharto: those rate comes out from ECB
[21:31:12] Suharto: What do you think about that article? is that true or not?
[21:31:47] TRC: they are using dot , instead of coma
[21:31:59] TRC: . / ,
[21:32:21] TRC: in arab countries, they use . instead of a coma
[21:32:27] TRC: ,
[21:32:37] TRC: 1,234 IQD per 1 USD
[21:34:13] Suharto: so we can ignore that article
[21:34:21] TRC: 1,246=1 usd
[21:34:51] TRC: in middle east they use . instead of ,
[21:35:35] TRC: the website is good
[21:36:01] TRC: just they are using dots instead of coma’s
[21:36:31] TRC: ok Suharto?
[21:37:05] Suharto: so I must be patient again :)
[21:37:18] Suharto: any good news trc?
[21:37:20] TRC: yes:)
[21:37:40] TRC: parliament session Monday
[21:38:13] Suharto: what topic will discuss in parliament today?
[21:38:16] TRC: supposed to discuss oil and gas law and agreement with Kurdistan
[21:38:43] TRC: Minister of Oil , will attend
[21:38:59] TRC sent an audio message: Clear Throat
[21:39:27] design: :)
[21:39:50] TRC: oil and gas law in My opinion is number 1 item , they should be discussing
[21:40:54] TRC: lots to do before their holiday
[21:41:07] TRC: they got to get moving
[21:41:21] design: when is their holiday
[21:41:32] TRC: end of the month
[21:41:38] design: ok
[21:42:34] TRC: parliament needs 30 day rest, they were supposed to take it two weeks ago, but cancelled it to get budget passed
[21:43:09] design: lol
[21:43:13] TRC: they are always behind the 8 ball
[21:43:28] design: yea… always
[21:44:09] TRC: maybe they will cancel holiday again in two weeks
[21:44:38] design: should :)
[21:45:11] TRC: I am pretty sure the customs tariffs law will be activated fully within the next two months
[21:45:38] design: cool…
[21:46:24] TRC: now you know what goes with full activation of the customs tariffs
[21:46:34] TRC: :whistle:
[21:46:47] TRC sent an audio message: Yell!
[21:47:15] design sent an audio message: Drumroll
[21:47:48] design sent an audio message: Oh Boy!
[21:47:48] TRC: last year on December 15th they activated tariffs partially
[21:48:41] TRC: we should see full activation, this year.. at least on areas they control
[21:48:54] TRC: ISIS still in north
[21:49:31] TRC: but Iraq did not do much business with Syria , any ways
[21:50:16] design: heard on news There was another beheading
[21:50:25] design: american…
[21:50:30] TRC: yeah
[21:50:53] design: never found out if it was true
[21:50:55] TRC: supposedly ISIS beheaded a bunch
[21:51:09] TRC: not just american
[21:51:24] TRC: doing mass beheadings now
[21:51:36] TRC: :(
[21:52:01] design: said they will start beheadings in streets of USA next ?
[21:52:37] TRC: read they executed whole bunch of other ISIS , too, they must have wanted to go home or something
[21:53:16] TRC: iraqi forces found 35 members shot
[21:53:27] TRC: execution style
[21:54:03] TRC: iraqi troops are gaining ground almost every where
[21:54:09] design: this whole thing is terrible…
[21:56:28] TRC: obama is now thinking, of plan to oust Assad in Syria
[21:57:12] TRC: the plan to drive ISIS out of Iraq seems to be working, so now thinking of afterwards
[21:57:27] Suharto: how is about budget 2014 news? any progress?
[21:58:09] Suharto: I seen revaluing iraqi dinar it must now, but CBI still delayed
[21:58:09] TRC: the 2014 budget, has been pretty much cancelled
[21:58:57] TRC: will just pass issuing of funds to pay government workers etc. until end of 2014
[21:59:06] Suharto: CBI waiting approriate time, when will it? there isn’t right time in Iraq
[21:59:42] Suharto: TRC, how is budget 2015 chance? will it take long time for approve?
[21:59:44] TRC: the 2015 budget supposed to be sent to parliament by end of month
[22:00:13] TRC: but, dont know what they going to do about holiday
[22:00:35] Suharto: if budget 2015 will delay again Iraq’s economy will be disaster
[22:00:40] TRC: CBI, can rv anytime
[22:01:23] TRC: but with oil and gas law on verge of getting passed, at least looks that way
[22:01:49] TRC: CBI may be able at higher rate, if we can predict
[22:02:01] TRC: :P
[22:02:53] TRC: now last year, they partially activated customs tariffs
[22:03:08] Suharto: CBI may be able High rate, AMEN TRC :)
[22:03:19] TRC: on December 15th, so at this stage that could point to rv date as well
[22:03:30] Suharto: yes about tariff interesting
[22:05:05] TRC: there is alot going on
[22:05:08] Suharto: tariffs is the one of important for Iraqi revenue beside oil and gas
[22:05:25] Suharto: Iraq need other revenue
[22:05:43] TRC: they are completing the various committees in parliament
[22:06:12] TRC: should be finished Monday
[22:08:04] Suharto: the best in Abadi’s government is they finished many crucial problem only need 8 weeks than Maliki’s in 8 years but nothing to solve the problem between provinces in Iraq
[22:08:18] TRC: activating the international trade agreements , the customs tariffs law fully, and revaluing the currency may happen all at same time
[22:09:35] Suharto: when will parliament get recess trc?
[22:09:52] TRC: the budget has no direct relationship with the currency convertible globally
[22:10:42] TRC: dont know when recess will be
[22:11:27] TRC: they can decide to take recess anytime or cancel it
[22:11:32] Suharto: yes budget no direct relationship with rates but without budget Iraq economies will go down and has effect to stability of iraqi dinar
[22:13:42] TRC: well Suharto, the ISX is not effected by no budget agreement, it is up 20% since they started OMX global trading
[22:14:02] Suharto: interesting is about TBI will open outside Iraq
[22:14:41] Suharto: It is nice ISX still on going without budget problem
[22:14:50] TRC: I think if they released the currency it would have no problem staying strong
[22:15:16] Suharto: in Indonesia, politics has effect to stock and Rupiah rate
[22:16:04] TRC: the new government in Iraq, is very stable
[22:17:14] Suharto: the most I am confuse if Iraqi dinar get rv, how is ISX to change the price their stock? if they use foreign currency will not problem, but if they use dinar with current rate it will problem for them
[22:18:14] TRC: only if you are foreign invester
[22:18:35] TRC: iraqis wont have any change
[22:18:40] Suharto: so trc, do you think politics has reach stability now?
[22:19:11] TRC: Iraq is politically stable yes
[22:19:11] Suharto: Iraq’s problem now is security now, but I think iraqi arm forces can handle it, will they?
[22:19:36] TRC: iraqi forces are winning now
[22:21:20] Suharto: I seen article iraqi forces take over Baiji, the important city for Iraq. because in this city has main refinery
[22:21:41] TRC: yes
[22:22:31] Suharto: iraqi forces moving to north of Baiji, they still try to get over the other oil field and refinery who still hold bay ISIS
[22:36:32] Suharto: TRC, what law will wait anymore beside HCL?
[22:37:02] Suharto: will CBI wait other law for revaluing dinar?
[22:37:31] TRC: not sure what laws, CBI is waiting for
[22:38:08] TRC: I think the laws are passed, that CBI wants to make the IQD convertible
[22:38:35] TRC: but the government needs to activate those laws
[22:39:37] TRC: like the investment law, which contains the free movement of money inside/outside country, and the trade agreements needs activated
[22:40:55] Suharto: oh now is up to government, it wasn’t in parliament hand any more :)
[22:45:24] Suharto: trc, do you think this year is the best year for you ?
[22:45:39] TRC: best in what way?
[22:45:54] Suharto: I mean if we get rv :)
[22:45:59] TRC: yes
[22:47:47] Suharto: Oh I almost forget, one of member parliament said CBI will be deleting zeros in the first month of next year, IMO CBI must rv before delete zeros, what do you think?
[22:49:06] TRC: they are two seperate things
[22:49:32] TRC: delete the zeros is start issuing new currency lower categories
[22:49:58] TRC: they must have convertible currency with new value first
[22:51:57] Suharto: CBI said they will issuing higher denoms like 50,000 and 100,000 dinars, I don’t understand why do they issue those denom if they will to rv?
[22:52:39] Suharto: those higher denoms what is for?
[22:53:56] TRC: I think they discussed it, but has not been officially announced
[22:54:51] TRC: to move large amounts of money between banks I assume, or to store in vaults
[22:54:55] Suharto: so small denoms will lauch next year?
[22:55:48] Suharto: the smallest denoms is fils in iraqi dinar, will it use this denoms again by iraqis?
[22:56:15] TRC: I predict small denoms will be launched soon, one denom at a time
[22:57:12] Suharto: the smallest denoms is 250 fills, isn’t it?
[22:57:56] TRC: no
[22:58:28] TRC: I think the smallest fils may be .005 fils when that coin is finally issued
[23:01:49] Suharto: after all this month is the best as long investing iraqi dinar :)
[23:02:44] Suharto: Saudi accept friendship with Iraq now, they will be opening embassy :)
[23:03:29] TRC: if you remember last year, they announced postponement, and I felt would be another year, back then, but this year I feel it is very close
[23:04:55] Suharto: trc, so we must wait until 15 December !
[23:06:14] TRC: I dont know when, just look at scenario we are in at the time

Chatroom Log Wednesday

[19:32:54] design: like middle of winter…lol
[19:33:21] teledive: It is 32 for us tomorrow
[19:33:24] teledive: :)
[19:33:40] TRC: oh well
[19:34:07] design: U.P. of michigan, 4′ snow last 3 days!
[19:39:31] TRC: just posted , President of Iraq is seeking Saudi sponsorship to join GCC
[19:39:58] teledive: awesome
[19:40:18] AMG: cool
[19:40:42] TRC: Saudis and Iraq have become friends all of a sudden
[19:41:02] TRC: they agree on current OPEC policy too
[19:41:35] TRC: this new prime minister is amazing
[19:41:51] TRC: have said this before
[19:41:56] TRC: :)
[19:42:48] TRC: last 24 hours Iraqi delegation visited Saudi government leaders
[19:43:14] AMG: good stuff
[19:43:31] TRC: Iraq is also trying to get back the oil pipeline to Red sea
[19:43:55] TRC: runs from Basra to Jeddah
[19:44:21] TRC: and also settle financial issues
[19:46:15] TRC: A statement by the General Secretariat of the Council of Ministers said that “the Secretary General of the Council of Ministers Hamid Khalaf Ahmed received a delegation of the checks on the draft memorandum of understanding with UNDP, the United Nations in order to access them and discuss the legal notice before the signing of the memorandum.”
[19:47:06] TRC: The statement pointed out that the memo “identifies the areas of their cooperation with the Iraqi government administrative, financial reform and regulation – federal and local relationships, and a secure and stable Iraq, upgrading the services and the standard of living of the citizen.”
[19:47:55] TRC: The parties agreed to “hold a subsequent meeting prior to signing for the purpose of discussing and discuss observations with the Prime Minister and the Bureau of advisers.”
[19:48:04] Wile E Coyote sent an audio message: Drumroll
[19:48:49] Wile E Coyote: more good news
[19:49:03] TRC: the UN financial reforms was interesting
[19:49:25] TRC: now we know why the IQD dropped in value
[19:49:39] Wile E Coyote: yes
[19:49:51] TRC: it was due to UN Security Council resolutions, under Chapter 7
[19:50:31] TRC: the UN development programme, including financial reform, could be what we been waiting for
[19:51:08] Wile E Coyote: It has been a year now, hasn’t it?…since the UN lifted the chapter 7 sanctions???
[19:51:21] TRC: the agreement once signed returns IQD back to a convertible currency
[19:52:12] TRC: its been over a year , now was middle of summer in 2013 , Chapter 7 was officially lifted
[19:53:41] design: :)
[19:54:09] TRC: now moving on
[19:54:19] Wile E Coyote sent an audio message: Drumroll
[19:54:21] TRC: The parliamentary Commission on oil and energy discuss today a number of important laws, including oil and gas, and the National Oil Company Act.

Committee member Zahir Abadi explained that the committee is moving to adopt the 2011 oil and gas law to be discussed after the government sent in response to the adoption. MP Abbadi said that the Committee will express its observations on this law
[19:55:23] TRC: committee on oil and gas are discussing oil and gas law ,
[19:55:34] Wile E Coyote sent an audio message: Oh Boy!
[19:55:38] design: :)
[19:55:43] Wile E Coyote sent an audio message: Yahoo!
[19:55:53] Wile E Coyote sent an audio message: Drumroll
[19:55:55] TRC: if they don’t see any issues, it will be sent for first reading in the house
[19:56:18] TRC: if there is any issues it will be sent back to cabinet
[19:56:34] TRC: we should know shortly on this
[19:58:51] TRC: President Fuad Masum in Riyadh on Wednesday with the head of Saudi intelligence, Prince Khalid bin Bandar search issue of the exchange of information on the security side, between Iraq and Saudi Arabia.

According to press reports that “During the meeting, the exchange of information on the security side, with respect to the war on terrorism, which poses a threat to all countries in the region
[19:59:41] TRC: this is first time Iraqi government has had talks with Saudi intelligence on terrorism since 1980’s
[20:01:35] TRC: The Commander General of the Armed Forces, Hayder Al-abadi ordered to expel 26 security leaders and refer ten others to retirement as well as employing 18 leaders for new posts in the Defense Ministry.
[20:02:19] TRC: Prime Minister of Iraq , is now moving on shaking up the Iraqi military, firing 26 military leaders
[20:02:31] TRC: replacing them all
[20:02:43] TRC: due to what happened last June
[20:03:08] TRC: with the total collapse , when threatened by thugs
[20:05:18] AMG: clean house…………………………….
[20:06:06] AMG: leaders they weren’t………………………courts-martial they should be
[20:07:47] Wile E Coyote sent an audio message: Drumroll
[20:09:56] AMG sent an audio message: Drumroll
[20:10:07] Wile E Coyote sent an audio message: Drumroll
[20:10:26] TRC: things have never looked so bright
[20:10:42] Wile E Coyote sent an audio message: Yahoo!
[20:10:48] AMG sent an audio message: Oh Boy!
[20:12:31] Wile E Coyote: It seems the GOI is moving this along now…
[20:13:04] Wile E Coyote: Maliki
[20:13:19] AMG: arghhh……….the M word
[20:13:34] Wile E Coyote: Maliki’s government was inept, it seems to me.
[20:13:39] AMG: thought he got outta Dodge
[20:14:16] Wile E Coyote: Time will tell more….
[20:14:58] TRC: am stepping out on a limb , but thinks the signing of the UN document, would mean IQD would have value and return to convertibility
[20:15:15] Wile E Coyote sent an audio message: Oh Boy!
[20:15:22] Wile E Coyote sent an audio message: Yahoo!
[20:15:27] AMG: I like that limb ^.^
[20:15:29] Wile E Coyote sent an audio message: Drumroll
[20:15:30] AMG sent an audio message: Drumroll
[20:15:35] Wile E Coyote sent an audio message: Drumroll
[20:15:54] design sent an audio message: Oh Boy!
[20:16:00] TRC: it was the UN that prevented trading the IQD remember,
[20:16:08] TRC: in 1990
[20:16:10] Wile E Coyote: yes
[20:16:15] Wile E Coyote sent an audio message: Drumroll
[20:16:32] Wile E Coyote: That is what sam couldn’t seem to grasp…
[20:16:52] Wile E Coyote: Many don’t seem to understand this, TRC
[20:17:12] Wile E Coyote: IMO, one has to include this in the big picture….
[20:17:17] TRC: Iraq was not prepared to deal with their currency since Chapter 7 was lifted, until , not in global convertibility way, but they are now
[20:18:18] TRC: everything is falling into place in way we have not seen since 2003
[20:18:34] TRC: its hard to believe
[20:18:35] Wile E Coyote sent an audio message: Drumroll
[20:18:43] Wile E Coyote sent an audio message: Oh Boy!
[20:18:45] AMG sent an audio message: No Way Dude!
[20:18:50] Wile E Coyote sent an audio message: Yahoo!
[20:18:57] Wile E Coyote sent an audio message: Oh Boy!
[20:19:05] Wile E Coyote sent an audio message: Yahoo!
[20:19:22] TRC: if you have watched this, for long time, like alot , this is almost too good to be true
[20:19:38] Wile E Coyote sent an audio message: Oh Boy!
[20:19:43] AMG: I agree………………….it’s amazing
[20:20:25] TRC: took 11 years to get a government that is putting all the pieces together
[20:20:48] AMG: the right gov’t personnel
[20:21:09] TRC: it has always been the government in Iraq that held things up, not Washington, or anybody else
[20:21:19] AMG: not like the losers of the last regime
[20:22:26] TRC: like for example the lifting of Chapter 7, that was in Iraqi government hands, but they could not do it for ten years , from the 2003 war,
[20:23:07] TRC: they would not accept the border for example drawn up in UN resolution in 1991
[20:23:18] TRC: until 2013
[20:23:21] AMG: that’s all in the rearview mirror……………IMHO
[20:23:51] AMG: exciting times we have NOW
[20:24:12] TRC: well if you remember all the BS out in past , saying it was UN or Washington holding things up
[20:24:28] AMG: yup
[20:25:05] AMG: fueled by the “gurus”
[20:25:08] TRC: all Iraq needed was a government that was workable amongst all the various peoples in the country
[20:25:16] Wile E Coyote sent an audio message: Drumroll
[20:25:23] AMG: voila
[20:25:47] TRC: in less than 6 months so much has been accomplished
[20:26:20] TRC: mind you they have not passed a budget or the oil and gas law yet, we will see
[20:26:54] Wile E Coyote: I say they will……soon.
[20:27:06] Wile E Coyote: jmho
[20:53:51] TRC: new 5000 and 25000 dinar notes reported
[20:54:01] TRC sent an audio message: Drumroll
[20:54:50] Wile E Coyote sent an audio message: Drumroll
[20:58:17] AMG sent an audio message: Drumroll
[20:58:35] Wile E Coyote sent an audio message: Oh Boy!
[21:04:56] TRC: just posted
[21:05:18] TRC: The X-stream Trading upgrade provides ISX with a widely deployed high-end, multi-asset trading platform that complies with international standards. The new technology provides ISX with improved performance and up to ten-fold the amount of the capacity.
[21:06:06] TRC: “This is an important milestone for our exchange, the companies of Iraq and investors in the region and around the world,” said A. Abdul Salam, CEO, Iraq Stock Exchange. “We were well-prepared for the transition to our new trading platform, and the system has worked flawlessly since our go-live, which was on schedule and budget.
[21:06:48] TRC: Our ambition to be the focal point of the region’s capital markets is certainly on par with this new technology launch that benefits a vast amount of our key stakeholders.
[21:06:54] Wile E Coyote sent an audio message: Drumroll
[21:07:25] TRC: said Lars Ottersgard, Executive Vice President, Head of Market Technology, and NASDAQ. “This is a very dynamic, important marketplace that has the attention of the entire world. ISX has effectively shown their leadership and focus in driving access to capital in Iraq. We look forward to our continued collaboration with ISX as they grow and expand their business further.”
[21:07:33] Wile E Coyote sent an audio message: Drumroll
[21:08:00] TRC: Nasdaq’s exchange technology, including trading, clearing, CSD and market surveillance systems, is in operation in over 100 marketplaces across USA, Europe, Asia, Australia, Africa and Middle East.

Chatroom Log Wednesday

[19:43:04] bigjake: oil and gas laws
[19:43:11] TRC: what would you like
[19:43:29] TRC: yes oil and gas law is ready
[19:44:08] TRC: hopefully they get to work on it
[19:44:10] bigjake: stepping up i hope
[19:44:40] bigjake: so much good news
[19:44:44] TRC: if they can pass it this next couple weeks, the 2015 budget will pass easy
[19:45:07] bigjake: which is better
[19:45:57] bigjake: cool
[19:46:04] TRC: the conference in Dubai starts tomorrow concerning middle east financial markets
[19:46:14] bigjake: hope it it work for us
[19:46:19] TRC: global banks will be there
[19:46:33] bigjake: really
[19:46:34] TRC: Iraq is attending
[19:47:07] TRC: supposedly they will be preparing to bring Iraq into free market economy
[19:47:25] bigjake: man cant keep up with it moving fast
[19:47:55] bigjake: plese keep me inform
[19:48:03] TRC: ISX continues their rally was up again today
[19:48:27] bigjake: inchin a head
[19:48:47] TRC: ISX has went up every day since it adapted the Nasdaq OMX electronic trading
[19:49:12] TRC: 8 straight sessions
[19:49:43] bigjake: wow
[20:28:38] TRC: they cancelled the 2014, budget, oil and gas law is ready for parliament reading
[20:32:11] Wile E Coyote sent an audio message: Oh Boy!
[20:32:21] Wile E Coyote sent an audio message: Yahoo!
[20:38:04] AMG sent an audio message: Say What?!
[20:38:20] AMG: they cancelled the 2014, budget……….
[20:38:25] TRC: yes
[20:38:28] AMG: :-(
[20:38:37] Wile E Coyote: Let’s see how long Parliament takes to pass it
[20:38:41] AMG: doesn’t sound good
[20:38:58] TRC: instead they are doing the 2015 budget, after oil and gas law is passed
[20:39:14] Wile E Coyote sent an audio message: Oh Boy!
[20:39:25] Wile E Coyote sent an audio message: Yahoo!
[20:39:32] TRC: scheduled to read 2015 budget first week of December
[20:39:46] Wile E Coyote sent an audio message: Drumroll
[20:39:50] AMG: ohh
[20:40:08] TRC: so, it looks like oil and gas law should be read shortly in parliament
[20:40:16] Wile E Coyote sent an audio message: Oh Boy!
[20:40:23] Wile E Coyote sent an audio message: Yahoo!
[20:40:50] AMG: sounds like 2015 rv (to me) — really was hoping 2014
[20:40:51] TRC: energy committee in parliament is looking at it now after recieving it from cabinet last week
[20:41:15] Wile E Coyote sent an audio message: Drumroll
[20:42:07] AMG: guess i’ll just wait and see
[20:42:31] Wile E Coyote: me, too
[20:42:32] AMG sent an audio message: Clear Throat
[20:42:44] Wile E Coyote sent an audio message: Drumroll
[20:42:50] AMG: :(
[20:43:16] AMG: is tired of waiting
[20:44:02] Wile E Coyote: me, too
[20:44:51] TRC: budget has nothing to do with rv
[20:44:56] AMG sent an audio message: Drumroll
[20:45:04] Wile E Coyote sent an audio message: Drumroll
[20:45:44] Wile E Coyote: yes, TRC, but……we are encouraged to see the GOI getting the lead out of their ass
[20:45:53] TRC: they are discussing Iraq moving to free market system in Dubai beginning Thursday
[20:46:03] Wile E Coyote sent an audio message: Oh Boy!
[20:46:19] TRC: Union of Arab Traders conference
[20:46:22] Wile E Coyote: I like to see things moving……
[20:46:48] TRC: stock market heads and global finance reps attending
[20:47:01] Wile E Coyote: the faster the track….the better….for me…..
[20:48:17] Wile E Coyote: I can’t help but believe that Iraq wants to run with this….more than I want them to….
[20:48:36] Wile E Coyote sent an audio message: Drumroll
[21:13:33] TRC: Iraq currently possesses the experience and competencies existing in economic expertise what it takes to take the lead and initiate the self-reliance to develop the economy through the implementation of reform programmes and development policies suited to this stage.
[21:14:19] TRC: Baidhani called finally to revalue Iraqi dinar increased purchasing power because of its profound impact on the development of economic reality giveS additional force to currency strengthen confidence among the world’s currency markets, especially that dinar is covered by a cash reserve to be reckoned with.
[21:14:59] AMG sent an audio message: Oh Boy!
[21:15:02] TRC: Thursday morning news
[21:15:16] TRC: Iraqi official news paper
[21:15:22] TRC: alsabaah
[21:16:16] TRC: now this is coinciding with the conference in Dubai, to discuss activating Iraq’s private sector
[21:16:16] AMG: thanks, we just need the CBI to act
[21:16:42] AMG: seems to hand-in-hand
[21:16:47] TRC: the title of this article says Private sector strengthens the dinar
[21:17:27] AMG: it will too
[21:18:21] TRC: so this guy is encouraging the certain officials in cabinet to activate the investment act pertaining to the trade pacts that have been signed
[21:18:42] TRC: approximately 60
[21:19:04] TRC: which includes free movement of funds in and out of Iraq
[21:19:16] AMG sent an audio message: Drumroll
[21:19:29] TRC: and one known agreement which discusses currency swap with India
[21:20:18] TRC: but as this majid , dude says they should Revalue the IQD
[21:21:02] TRC: CBI knows what they have to do.. so.. this guy is just encouraging them
[21:21:57] AMG: go CBI
[21:34:27] design: good article for sure….. thanks
[21:36:16] design sent an audio message: Oh Boy!
[21:54:15] TRC: Credit rating

Interaction with international banking step lift would between banks was also: “the Bank adopts a systematic plan to build solid relationships with international banks including Citi Bank and JP Morgan which we are working with to develop a credit rating for the Bank to make it high prestige among the international banks, the banks unbelievably gorgeous quality measured by credit rating
[21:54:49] TRC: Trade bank of iraq
[21:55:27] design: :)
[21:59:52] TRC: goes on saying TBI has relationships with all iraqi banks except two
[22:09:33] TRC: not sure if they will be important factor, in forex with the IQD, since they are supposedly government owned
[22:11:19] design: ok
[22:13:54] teledive: sounds like GREAT news
[22:15:34] teledive: only 2 banks left to respond…just that small bit speaks volumes…iraqis tend to all drag their feet only 2 left