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

Chatroom Log Sunday

[20:31:19] AMG: waiting to what happens to the MR, RV etc
[20:32:22] TRC: ISX seems like a fine sea bass dinner to investers the last week
[20:32:36] AMG: lol
[20:32:50] TRC: up 13%
[20:32:51] AMG: did well
[20:33:15] TRC: never seen that in last 5 years watching
[20:33:57] AMG: the word is spreading about the ISX……IMO
[20:34:07] TRC: definitely on a new road now
[20:34:08] AMG: more folks want IN
[20:34:53] TRC: Saleh (former deputy governor of CBI) told government it is time to allow Iraq to enter free market
[20:35:24] TRC: although he is not employed by them any longer
[20:35:31] AMG: maybe Shabs should too
[20:35:41] AMG sent an audio message: Drumroll
[20:35:52] TRC: Saleh talks 24/7..he cant help it
[20:36:18] AMG sent an audio message: Laugh
[20:36:30] TRC: can imagine being seated in a room with him
[20:37:01] TRC: he would be quiet only briefly even if he didnt know you
[20:37:20] AMG: :-D
[20:37:40] TRC: his articles run full pages
[20:39:27] AMG: he’s not shy
[20:40:54] TRC: all the tests of new OMX platform of ISX have been completed.. with success
[20:41:15] TRC: now they are focusing on training people
[20:41:39] AMG: yes, they need to be proficient
[20:43:01] TRC: Saleh said now that Iraq has new stable government its time to launch free market
[20:43:44] TRC: will help economy offset from low oil prices, and the lost of Kirkuk pipeline due to ISIS
[20:44:35] TRC: economy will flourish, if all inhibitions are lifted on the economy
[20:45:32] TRC: Basra foreign investment is up by large margin this year
[20:46:04] TRC: seems most foreign investors in Iraq are investing in Basra
[20:46:24] TRC: as opposed to Kurdistan or Baghdad
[20:47:00] AMG: safer
[20:47:08] TRC: two new banks are opening in Basra
[20:47:31] TRC: Basra times square is due to open early 2015
[20:48:03] TRC: will be center of financial center planned for city
[20:48:31] TRC: Basra is going to be the economic center of Iraq
[20:48:41] TRC: down the road
[20:49:14] TRC: even a skyscraper is in plan , to rival the one in Dubai
[20:49:28] TRC: shaped like a guitar
[20:50:13] TRC: Basra stock market will open sometime in 2015
[20:50:51] TRC: Erbil market may be postponed due to ISIS
[20:52:09] TRC: largest desalination facility in Iraq is under construction
[20:52:32] TRC: largest sea port in gulf is under construction
[20:52:58] TRC: largest football stadium in Iraq is just outside Basra
[20:53:58] TRC: this is Basra time
[20:54:27] TRC: Basra has suffered alot over last couple decades due to wars
[20:55:00] TRC: but now it is Basra ‘s time to shine
[20:56:50] TRC: there is now commuter flights from Baghdad to Basra, river taxis, and starting high speed train service
[20:57:12] TRC: now two new trains now working
[20:57:26] TRC: but not all the way to Baghdad yet
[20:58:43] TRC: still building the tracks
[21:00:40] TRC: only goes as far as Najaf..I believe
[21:36:31] Underdog: I have been thinking……
[21:36:46] AMG: oh
[21:36:56] TRC: oh oh
[21:36:57] Underdog: about your $1 rate……
[21:37:41] Underdog: I thought today that you must have a good reason that I do not know about or understand…..
[21:38:29] Underdog: My thoughts the other night were just that….my thoughts……
[21:38:41] TRC: well I was just basing it on the 7 categories
[21:39:15] TRC: but WR posted reply to chat, that may have changed that scenario
[21:39:28] Underdog: I do have my reasons…..but, they probably don’t matter or apply….
[21:39:45] TRC: he mentioned, the 7 categories of coin.. in different measure
[21:39:52] Underdog: yes
[21:39:59] TRC: you seen that
[21:40:09] Underdog: yes
[21:40:36] TRC: if that is correct , then a 3 dollar rate would fit quite well
[21:40:56] Underdog sent an audio message: Oh Boy!
[21:41:12] TRC: but we really dont know how they going to do this, one rv or a series of rvs over a few years
[21:41:18] Underdog: Well, TRC, like you say……we will see…..
[21:41:39] AMG: thinks it will be a series
[21:42:07] TRC: but first rv should be between 1 cent and 1 dollar USD
[21:42:19] Underdog: Please tell me your thoughts as to why a series of rvs would benefit Iraq????
[21:42:21] AMG: i agree
[21:42:42] TRC: if there are a number of rving going to happen
[21:42:43] Underdog: I don’t see it….
[21:43:20] TRC: could just reset it at 3.20 USD
[21:43:33] TRC: pre 1990 rate
[21:43:54] Underdog: unless Iraq would stipulate that those holding dinar now were required to exchange at a lower rate….but I don’t see that….
[21:44:00] TRC: but I try to keep things humble
[21:44:48] TRC: they can pretty much reset at whatever they and IMF agree on
[21:45:21] TRC: before it returns to convertibility outside Iraq
[21:45:33] Underdog: yes….I believe the rate is already chosen…
[21:45:46] Underdog: we don’t know what it is….
[21:45:46] TRC: what does IMF think is correct value
[21:46:17] Underdog: they know….IMO….and the CBI knows…..IMO
[21:47:16] Underdog: I believe that Iraq has been following a plan…..all along….in spite of Maliki, ISIS, etc….
[21:47:39] Underdog: and for whatever reason…..the process is still in the making…..
[21:47:45] Underdog: jmho
[21:48:13] TRC: combination of reasons
[21:50:29] Underdog: I remember what you have taught me, TRC
[21:51:17] Underdog: I keep reminding myself…..
[21:56:12] Underdog: I don’t begin to know or understand this process like you do….
[21:56:30] Underdog: I just remember what you have taught me here…..
[21:56:48] TRC: this is what WR said
[21:57:02] TRC: I think the seven metal coin categories would be made of a 5 dinar, 1 dinar, 1/2 dinar or 50 fils, 1/4 dinar or 25 fils, what we call a quarter, 1/10 dinar or 10 fils what we call a dime,1/20 dinar or 5 fils, what we call a nickel, 1/100 dinar or 1 fils, what we call a penny. This would allow for making change in the market place. I am not sure but I think fils
[21:57:07] Underdog: I have seen the process unfold just like you told me….
[21:58:09] TRC: now this makes the point for a higher value
[22:01:01] TRC: of course banknotes of 100, 50 ,25 and 10 would need to be printed
[22:02:29] Underdog: yes
[22:04:16] AMG: yup
[22:20:12] AMG: just wants to see some upward reality rate movement ;)
[22:20:24] Underdog: me too, AMG
[22:20:37] Underdog: it is time…..
[22:20:49] AMG: it is
[22:20:52] Underdog: its about time…..its about place…..
[22:23:19] TRC: I mentioned.. that you can get a loan at a bank , using foreign currency as collateral
[22:23:47] TRC: but the currency value is important
[22:23:54] AMG: yes
[22:24:19] TRC: your loan would be worth a percentage of the current value
[22:24:35] TRC: the currency needs to be convertible
[22:25:16] TRC: so, lets say the currency becomes convertible at much lower rate, than you expected..
[22:25:46] TRC: you can hold on to it.. and take a loan
[22:25:59] TRC: the money is not taxable
[22:26:43] TRC: if you think the value will increase

Chatroom Log Thursday

[19:32:41] TRC: the economic and investment committee agreed with CBI to issue 7 lower categories including metal coins over next few years
[19:33:06] teledive sent an audio message: No Way Dude!
[19:33:44] TRC: that would be the 100, 50, 25, 10, 5, 1, 1/2 dinar, 1/4 dinar
[19:34:06] teledive: dude they can’t do that at the current rate…:)
[19:34:12] teledive: oboy
[19:34:29] AMG: need a real rate
[19:34:33] TRC: they said they would issue one category at a time gradually
[19:35:07] teledive: only saw the wait 5 year plan news…:)
[19:35:31] TRC: looks like CBI has convinced the members of parliament, that everything would work
[19:35:37] teledive: gracias amigo…brushing up on my espaniol
[19:36:16] TRC: the article after that one
[19:36:35] teledive: I foresee travel down south in the near future…lol
[19:36:36] TRC: was latest release
[19:37:31] TRC: the 5 year article was from late Wednesday
[19:38:20] TRC: on Thursday nora, the speaker for the committees , of late said new currency will be released
[19:38:20] teledive sent an audio message: Yahoo!
[19:38:45] TRC: so CBI seemed to have gotten thru their thick heads
[19:39:07] TRC: they cannot postpone it
[19:39:19] TRC: if they want in WTO pronto
[19:39:29] teledive: I can appreciate that as ISX won’t wait either
[19:39:31] teledive: :)
[19:41:32] TRC: ISX up about 11% this week
[19:41:34] Madison: great! I am good just confused by all the yes we are.. no not for 25,000 more years..OMG!
[19:42:30] TRC: they have been discussing changing the currency last couple weeks
[19:42:30] Madison: I did see that at least they agree upon that;)
[19:43:04] Madison: I imagine they want us confused and they are good at their job
[19:43:05] TRC: every person involved was published in iraqi media
[19:43:23] teledive: was working on me…lol
[19:43:24] TRC: they shared their opinions
[19:43:30] teledive sent an audio message: Laugh
[19:43:51] TRC: the last article published
[19:43:54] Madison: I try not to read too much into all the opinions but…
[19:43:58] AMG: liked the video on Rabee Securities/ISX ^.^
[19:44:05] TRC: looks like they have come to agreement
[19:44:21] AMG sent an audio message: Oh Boy!
[19:44:35] TRC: they will issue 7 lower categories currency and coins
[19:45:07] TRC: 100,50,25,10,5,1,1/2 dinar,1/4 dinar
[19:45:24] Madison: I did see that but do you think it will be soon… or within another 5 years?
[19:45:34] TRC: will be gradual one at a time
[19:45:41] AMG: sooner rather than later IMHO
[19:46:01] TRC: they need to revalue currency to make it convertible
[19:46:17] AMG: absoutely
[19:46:23] TRC: also in order to release new banknotes
[19:46:41] AMG: :whistle:
[19:46:57] TRC: as in previous years which were delayed the plan states releasing the 100 in December
[19:46:58] Madison: I thought that too…that the RV had to happen to make the currency convertable.. but my head has been in a spin with all the articles.
[19:47:07] AMG: they will need to make change….like we do
[19:47:07] teledive: lol I was typing the same thing but more as a computer dweeb
[19:47:39] TRC: right, the currency is not convertible outside Iraq,
[19:48:06] TRC: that should happen shortly
[19:48:14] Madison: the RV?
[19:48:52] TRC: especially with Reuters and Bloomberg set up, and ISX using new OMX global electronic trading platform
[19:49:25] TRC: yes they will reset the value of the IQD
[19:49:42] teledive sent an audio message: Oh Boy!
[19:49:50] TRC: closer to Jordan and Kuwait
[19:50:22] Madison: Yep… I thought it has been unfold exactly as it has been and I thought we were almost there! Then the last couple days I read articles and my head was spinning. lol
[19:50:29] TRC: two main partners in currency
[19:51:14] TRC: well as I said before, everyone involved in the discussions made public media
[19:51:24] Madison: I always expected them to match up close to Kuwait’s value
[19:51:26] TRC: very transparent
[19:52:07] Madison: transparent is good
[19:52:09] TRC: I thought , Myself that there would be no talk of lower denominations until a rv had happened
[19:52:18] TRC: so I was surprised
[19:52:57] TRC: but they have not given a day it will reset, so we still need to wait
[19:52:57] Madison: I expected that they would keep us guessing until it happened
[19:54:04] TRC: large window now is 6 months, because WTO is watching, Iraq needs a credit rating at Worldbank
[19:54:22] TRC: small window is by end of year
[19:54:57] TRC: Iraq cannot get a credit rating unless their currency is convertible outside the country
[19:55:29] Madison: Okay end of the year… to 6 months is fine. 5 more years? I was not happy about the thought of another five years :-(
[19:56:25] TRC: the economic and investment committee mouth piece was very clear the change /release of lower categories must be gradual
[19:56:37] TRC: not overnite
[19:56:58] TRC: do not want to confuse the people, or shock the economy
[19:57:15] TRC: original plan was for two years
[19:57:41] Madison: I get that it needs to be gradual.. but if they RV they need it to have the lower denominations available to use on a daily basis, right?
[19:58:02] TRC: I think the CBI will say they agree with the committees and still follow the original plan in the end
[19:58:25] TRC: one new category a month
[19:58:40] Madison: Oh.. one a month is good.
[19:59:04] Madison: That would ease the people into the transition
[19:59:26] TRC: explained previously, if you change exchange rate, there is not an instant change in purchasing power for iraqis in country
[19:59:46] TRC: it takes time to trickle down
[19:59:59] TRC: inflation will gradually drop
[19:59:59] Madison: Yeah, I forgot that TRC… you did say that.
[20:00:14] TRC: purchasing power will slowly rise
[20:00:32] TRC: enabling the use of the new lower categories
[20:00:48] TRC: phasing out the larger ones
[20:01:34] Madison: That makes sense.. actually the US did that when they phased out the $500 bill etc.
[20:02:28] TRC: releasing 7 new categories..may tell you something on estimated value , in a reset
[20:02:52] TRC: nothing smaller than 1/4 dinar planned ..
[20:03:13] AMG: ^.^
[20:03:18] TRC: so would assume the value will not be higher than a dollar
[20:03:28] Madison: ^.^
[20:03:42] TRC: maybe only 50 cents
[20:03:42] AMG: .86
[20:03:54] TRC: but in a few years
[20:04:01] AMG: works for me
[20:04:04] TRC: they could do another rv
[20:04:19] AMG: TY Warka
[20:04:40] TRC: enabling the issuing of .10, .05 .005 fils coins
[20:06:42] Madison: 50 cents no complaints here and I will hold back part of what I have until the value raises more down the road :whistle:
[20:08:08] Madison: $3 would be a whole lot better… but 50 cents is still a lot of return on my investment
[20:09:03] TRC: well what do I know
[20:09:13] TRC: just My opinion
[20:09:57] Madison: Aw you know plenty TRC.. lol
[20:10:53] TRC: :’)
[20:11:33] Madison: You have always remained grounded in the facts. That is the reality of the situation. That is what is real.
[20:12:17] Madison: I get bits and pieces of this article then another. So my facts aren’t so straight. lol
[20:12:53] TRC: likes to keep informed
[20:14:03] Madison: That is why I like to touch base with you TRC! You stay informed and understand most of the articles.
[20:14:45] TRC: :)
[20:59:48] TRC: economic committee agreed with CBI , to release 7 new lower categories
[21:00:12] TRC: over next few years gradually
[21:00:15] design sent an audio message: Oh Boy!
[21:00:51] design: thats good!
[21:01:11] design: :)
[21:02:11] TRC: looks like the numerous meetings are fruitful

Chatroom Log Tuesday

[20:10:05] design: whats new
[20:10:16] TRC: not much
[20:10:29] TRC: more zeros articles
[20:10:34] TRC: :-D
[20:10:49] design: yes , was reading…lol
[20:11:07] design: popular subject
[20:11:41] TRC: now its next year
[20:12:07] TRC: these articles die off when October ends
[20:12:28] design: printing anything seems
[20:12:37] TRC: they are discussing it, thats why so many articles
[20:28:20] TRC: ha
[20:28:38] TRC: still talking about the rv anyway
[20:29:06] AMG: who is
[20:29:41] TRC: politicians
[20:30:00] AMG: ohh
[20:30:26] TRC: CBI is finally going to destroy all the damaged currency
[20:31:14] AMG: they should have been doing that
[20:31:28] TRC: supposedly they were not
[20:31:45] AMG: :-(
[20:32:16] TRC: CBI released news today saying they want to pull in all damaged notes to destroy , and issue new currency
[20:33:20] AMG: about time……………………….US treasury/banks does that
[20:33:35] TRC: they were charging a fee , it seems on banks which held, damaged notes.. the fee has been dropped..
[20:33:48] TRC: no more fees
[20:34:06] TRC: CBI wants all damaged notes out of circulation
[20:34:12] AMG: perfect sense – no fee
[20:34:34] AMG: ^.^
[20:34:37] AMG sent an audio message: Drumroll
[20:35:16] TRC: now that should show more accuracy on what actually is the numbers in cash bloc, without damaged and wornout currency sitting around
[20:35:34] AMG: yes
[20:36:21] AMG: I see Abadi wants M replaced
[20:36:26] AMG sent an audio message: Yahoo!
[20:37:23] TRC: not sure on accuracy of that news
[20:37:34] TRC: only seen it once
[20:38:18] AMG: same here
[20:38:37] TRC: Abadi is busy man, he is trying to bring country together
[20:38:52] TRC: seems like he is everywhere
[20:39:04] TRC: :-o
[20:39:40] TRC: he went to Jordan to meet with leaders of the sunni rebels not affiliated with ISIS
[20:40:05] TRC: trying to bring into the government formation
[20:40:52] AMG: good man….good sense
[20:41:26] TRC: he is creating an army in Anbar
[20:41:48] AMG: really!!
[20:41:59] TRC: trained and armed by government to fight ISIS numbering 30,000
[20:42:29] TRC: will be made up of a number of tribes from Anbar
[20:42:55] TRC: lots of the leaders are in Jordan due to obvious reasons
[20:43:47] AMG: yup
[20:43:57] TRC: Abadi will give Anbar and the rest of the provinces more self determination
[20:44:25] TRC: he is promising Anbar more self determination
[20:45:09] TRC: leaders must come back and lead the new army against ISIS allied to Baghdad
[20:46:13] AMG: yes, more boots on the ground
[20:46:24] TRC: a new national guard is being planned as well by local people trained and armed by Baghdad
[20:46:37] TRC: in all provinces
[20:47:36] TRC: a conscription is also being worked on until ISIS has been eliminated as a major threat in the north of the country
[20:48:19] AMG: ^.^
[20:49:09] TRC: Iraq cancelled the apache helicopter deal, due to too many delays on Washington’s side
[20:49:41] TRC: most likely will extend the Russian nite hunter contract adding more
[20:50:00] AMG: :-( US politics
[20:50:53] TRC: Russia seems to be winning most of the weapons deals
[20:51:30] TRC: Iraq is buying planes, tanks and other armor from Russia
[20:53:35] AMG: is one day closer ;)
[20:53:43] teledive: awesome!
[20:54:22] TRC: seems the new OMX trading system at ISX is a success
[20:54:33] AMG sent an audio message: Oh Boy!
[20:54:47] TRC: ISX is up almost 5% in three sessions
[20:55:01] AMG: ^.^
[20:55:27] teledive: just caught latest post!
[20:55:34] TRC: ok
[20:56:09] teledive: just cause it reads well!
[20:57:01] TRC: changing the currency is beginning very soon
[20:57:30] teledive: from the read of it…:)
[20:57:46] teledive: CBI is on board works for me!
[20:58:07] TRC: the other article said same thing from parliament saying it must begin soon
[20:58:25] TRC: must prepare now
[21:00:20] AMG: is prepared
[21:00:22] teledive: parliament just wants to make it look like they are the ones instigating the deletion thats my thinking…
[21:00:23] teledive: :)
[21:00:23] AMG sent an audio message: Laugh
[21:01:23] TRC: many politicians do not know what needs to be done,
[21:01:41] TRC: media is publishing all comments
[21:01:56] teledive: exactly my point…just a gig at them since I can…lol
[21:02:23] TRC: schedule is July 2015, WTO will decide on whether Iraq gets full membership or not
[21:02:47] TRC: CBI governor knows this
[21:03:08] TRC: Abadi knows this too
[21:03:40] TRC: Abadi was chairman of finance committee in previous government
[21:03:51] teledive: the 2 that count the most!
[21:04:45] AMG: yup
[21:04:46] teledive: and maliki has sour grapes the money was confisgated by the us…
[21:04:48] teledive: :)
[21:05:19] teledive: confiscated
[21:05:34] TRC: if they are going to raise value of the currency before it is tradable/convertible.. then they better get deciding on when
[21:05:58] TRC: if they want in WTO
[21:06:45] TRC: they need to activate new investment law too
[21:07:11] teledive: did Allawi really get replaced? or just media hype
[21:07:25] TRC: national investment law, which contains sections in it , that allows free movement of money
[21:08:09] TRC: it must be activated to activate all of the 60 trade pacts they signed over last two years+
[21:08:48] TRC: Allawi took job as vice president
[21:09:03] TRC: so his seat in parliament must be filled
[21:09:42] TRC: or deputy prime minister.. cant recall
[21:10:26] TRC: so yes Allawi is being replaced in his job as member of parliament
[21:10:35] TRC sent an audio message: Drumroll
[21:10:41] AMG sent an audio message: Drumroll
[21:15:23] TRC: see IMF says Iraq’s GDP will shrink by 2.7% this year
[21:15:44] TRC: but they said next year it will increase by 1.5%
[21:16:04] teledive: yes as maliki is out now i have the rest of the story
[21:16:12] teledive: :)
[21:16:21] AMG: ;)
[21:16:27] TRC: cannot keep Iraq back.. IMF thinks
[22:19:15] TRC: Germany says approximately 450 people came from there to join isis
[22:19:37] TRC: yet they are not joining in the air strikes
[22:20:52] design: :-(
[22:29:03] TRC: Turkey said again today they would not join either
[22:29:25] TRC: unless Turkey’s interests coincide with the coaltion
[22:40:34] TRC sent an audio message: Drumroll
[22:41:28] TRC: expert said the current situation will not help the Iraqi dinar , unless they change monetary policy
[22:41:52] TRC: allowing the dinar to be convertible outside Iraq
[22:42:02] TRC sent an audio message: Drumroll

Chatroom Log Wednesday

[20:08:00] AMG: cmon next week!!
[20:08:08] AMG sent an audio message: Drumroll
[20:13:42] teledive: who ticked off the economic commitee?
[20:22:15] TRC: just look at what CBI Governor says
[20:22:37] TRC: he said deleting the zeros is in the plans of CBI
[20:22:55] TRC: they will not give day of rv
[20:24:00] TRC: Iraq becomes full member of WTO middle of year,they need credit rating , and a convertible currency
[20:27:56] AMG: sure do
[20:28:53] TRC: dont get too involved in politician’s statements
[20:30:06] AMG: dislikes politics :-(
[20:30:08] teledive: thanks trc never crossed my mind to not their politicians are as bad as ours
[20:30:27] AMG: lol
[20:30:49] AMG: ours lowers the bar
[20:30:55] AMG sent an audio message: Laugh
[20:31:16] teledive sent an audio message: Say What?!
[20:31:22] TRC: :-D
[20:31:25] teledive sent an audio message: Laugh
[20:31:53] TRC: CBI Governor said deleting the zeros are in the plans of the bank..
[20:32:07] TRC: what else do you need to know
[20:32:08] AMG sent an audio message: Oh Boy!
[20:32:32] TRC: a date? he will never share that
[20:32:38] TRC: :whistle:
[20:32:49] AMG: can’t
[20:33:07] TRC: there will just be a rv.. then they will announce the rest
[20:36:03] TRC: its good news to see the Governor of CBI say it is in the works!
[20:36:22] AMG: sure is…………very good
[20:36:22] TRC: thats all he can say
[20:36:28] AMG: ^.^
[20:38:46] TRC: what central bank ever told public they were going to rv , at certain date, or within certain time period ever?
[20:39:21] TRC: you got to do your research
[20:39:32] TRC: make due diligence
[20:39:40] TRC: on your own
[20:42:30] TRC: :)
[20:42:49] TRC: of course I will give My opinion if asked
[20:42:52] TRC sent an audio message: Drumroll
[20:43:05] TRC: :-D
[20:43:08] AMG sent an audio message: Drumroll
[20:47:10] AMG: is just waiting for IT to appear like a light in the dark
[20:48:44] AMG: Voila!!!!!
[20:48:50] AMG sent an audio message: Drumroll
[21:07:33] TRC sent an audio message: Drumroll
[22:20:48] ronnie: TRC does Iraq have to revalue currency before x-stream
[22:21:40] TRC: well, would think so, it makes sense..
[22:21:57] TRC: but it is not something they have to do
[22:22:11] TRC: they dont have to do anything
[22:23:29] ronnie: well i have heard all kinds people say yes and no
[22:23:36] TRC: lol
[22:23:50] TRC: got to make your own mind up,
[22:24:02] TRC: but we got to see what happens
[22:24:24] ronnie: I know
[22:24:52] TRC: did you read chatlog yesterday
[22:25:01] ronnie: yes
[22:25:23] TRC: makes perfect sense to bring currency online also next week
[22:25:49] ronnie: I am going to read it again
[22:28:08] ronnie: I know but my brain is on overload from reading all the articles on zeros
[22:28:40] TRC: every October they decide whether they are moving forward or staying put
[22:29:16] ronnie: 26TH, next year, 5 years
[22:30:11] TRC: dont know what to say on 5 years
[22:30:17] TRC: :whistle:
[22:30:54] TRC: according to the plan on changing to small denominations it is supposed to take 2-3 years
[22:31:24] ronnie: I had high hopes for this but those hopes are fading fast
[22:31:40] ronnie: goverment
[23:23:40] TRC: Governor of CBI announced
[23:24:04] TRC: stressed that the new currency which will be issued soon, with the fifty thousand dinars will be in both Arabic and Kurdish –
[23:24:24] TRC: including coins