Chatroom Log Tuesday

[19:45:13] AMG: bombings in Baghdad’………………….sigh
[19:45:19] AMG: πŸ™
[19:46:46] TRC: CBI governor got approval from government in Baghdad to open new CBI building in Erbil
[19:46:56] Tf: what is the significance in opening a branch of the CBI in Erbil?
[19:47:42] TRC: obviously Kurdistan is not leaving the iraqi dinar anytime soon
[19:48:07] Tf: the parliament is extending their sessions for one month?
[19:48:22] Tf: we knew that, didn’t we, TRC?
[19:48:39] Tf: Barzani is a big cry baby….
[19:49:23] Tf: never satisfied…
[19:49:25] TRC: well even if kurds want autonomy in every way, they will still use IQD
[19:49:55] Tf: all I can do is shake my head….
[19:50:26] Tf: I have to give Abadi credit….
[19:50:44] Tf: he has bent over backwards to pacify Barzani…..
[19:51:03] Tf: Abadi inherited Maliki’s mess….
[19:51:12] AMG sent an audio message: Drumroll
[19:51:22] AMG: yes
[19:51:26] Tf: IMO…Barzani is yet to step up to the plate….
[19:51:36] Tf: he is living in the past….
[19:52:16] TRC: Barzani family rule kurdistan
[19:52:18] Tf: he needs to bury the hatchet from Maliki’s watch….and start working with Abadi….
[19:53:26] Tf: anyway….it is good news….
[19:53:32] Tf: thank you, TRC
[19:54:09] TRC: in 13 years Barzani hold on kurds is like iron vise
[19:54:34] Tf: as we have said before….Abadi doesn’t complain….he just keeps plugging along….
[19:54:40] TRC: he said he would step down when kurdistan is independent
[19:54:50] Tf sent an audio message: Laugh
[19:55:32] Tf: that is just what I was talking about…
[19:55:51] Tf: what a loser….
[19:56:05] Tf: never good enough for him….
[19:56:17] TRC: Iraq out produced again this year in wheat n barley, not enough storage facilities once again, they build new ones every year
[19:56:22] Tf: is it true that he is a billionaire?
[19:56:47] Tf: Barzani?
[19:56:49] TRC: not sure
[19:59:40] When is RV?
[19:59:40] Do we have date and rate
[20:08:52] fs: hey AMG, how long do you think it’s going to take Iraq to complete financial reform? πŸ˜€
[20:08:55] TRC: parliament will meet until Ramadan
[20:09:10] AMG: forever lol
[20:09:26] fs: πŸ˜€
[20:09:27] Tf: I believe we will be pleasantly surprised….
[20:10:12] AMG: another Ramadan
[20:10:17] AMG sent an audio message: Bogus
[20:10:44] Tf: Iraq will hit it out of the ball park…..I believe…
[20:10:50] TRC: it is investing
[20:11:10] fs: Iraq is investing?
[20:11:18] TRC: we are
[20:11:36] fs: LOOONG term investing….
[20:11:58] AMG: lol
[20:12:37] fs: HOw much IQD is printed and out there?
[20:12:53] AMG: :*-/
[20:12:54] TRC: nobody knows
[20:13:16] TRC: they may have estimate on inside iraq
[20:13:22] fs: where does the 43 trillion figure come from?
[20:13:42] TRC: how much was printed
[20:14:03] fs sent an audio message: Oh ohh!
[20:14:09] TRC: and supposedly how much was destroyed
[20:14:52] TRC: but you have hard time calculating actual amounts since so much are outside the country
[20:15:51] TRC: when calculating a value of a currency before it is convertible outside country, they can use various mechanisms
[20:16:51] TRC: gold, cash reserves is part of it
[20:17:38] TRC: CBI governor has repeatedly said cash reserves cover 1 1/2 times cash in circulation
[20:17:54] TRC: sometimes 2 1/2 times
[20:18:25] TRC: now a cb/ central bank does not need to cover more than 75%
[20:19:56] TRC: some of the mechanisms on calculating a value is using resources as well
[20:20:14] TRC: now they can use oil in Iraq
[20:20:24] TRC: estimated value
[20:20:29] TRC: etc.
[20:20:57] TRC: but we do not know exactly the mechanism CBI and IMF will use
[20:21:32] TRC: as an investor we invest, and wait
[20:23:11] TRC: what ever value is set, international banks will honor it after article 8
[20:23:48] TRC: but each bank in each country can choose whether they want to exchange IQD
[20:24:16] TRC: it will depend on eeconomic relations
[20:24:30] TRC: trade deals etc.
[20:28:51] TRC: last number I recall was 7 trillion outside country
[20:29:02] TRC: but that was a few years ago
[20:29:13] TRC: maybe 10 trillion now
[20:29:20] TRC: lol
[20:29:58] TRC: how much USD do you think is outside america?
[20:30:30] TRC: Shabibi once was asked about IQD outside Iraq,
[20:30:46] TRC: he said it is of no concern to me
[20:31:05] TRC: he is only concerned with how much is in Iraq
[20:31:24] TRC sent an audio message: Drumroll
[20:34:44] AMG sent an audio message: Drumroll
[20:34:51] Tf sent an audio message: Drumroll
[20:46:09] TRC: actually we probably talked about this before
[20:46:22] TRC: but just update
[20:46:23] Tf: have you heard anything from Sadr?
[20:46:34] TRC: sadr?
[20:47:49] Tf: Muqtadā al-Ṓadr is an Iraqi Shia cleric, politician and militia leader. He is the leader of a political party, the Sadrist Movement and the leader of Saraya al-Salam, ..
[20:48:01] TRC: yes
[20:48:08] TRC: what about him
[20:48:55] AMG: he’s a d**k….IMO
[20:49:00] Tf: I wondered if you have heard any news about his protesters?
[20:49:24] Tf: are they being prosecuted?
[20:49:31] TRC: no
[20:49:45] Tf: is he holding them off for the time being?
[20:50:09] Tf: giving parliament a month to do what he demands?
[20:50:28] Tf: are they still protesting on Fridays now?
[20:50:40] TRC: nothing he can do, nobody in parliament
[20:51:03] Tf: are they standing down?
[20:51:18] TRC: Sadr city has been bombed repeatedly the last week
[20:52:13] TRC: no he has nothing to do
[20:53:35] TRC: sadrists are in Sadr city
[20:53:54] Tf: ISIS is desperate…
[20:53:57] Tf: IMO
[20:54:45] Tf: I would think the Iraqis would be so sick and tired of their people being killed…bombed….
[20:55:03] TRC: they are
[20:55:06] Tf: maybe I don’t understand their mindset….
[20:56:35] TRC: the biggest suicide bomb was a woman today
[20:56:46] TRC: how do you stop it
[21:00:30] TRC: its funny how it flared up as ISIS is losing massively on the battle field
[21:00:46] TRC: looks like sleeper cells

Chatroom Log Tuesday

[19:53:54] TRC: they pulled a 2000 ton sunken vessel out of shat al arab, today
[19:54:09] AMG: oh
[19:54:16] TRC: was there for many years
[19:54:34] AMG: wonder how old it was
[19:55:06] TRC: most likely sunk between Iran/Iraq war and the 2003 war
[19:55:14] TRC: somewheres
[19:55:27] AMG: ohh
[19:55:33] TRC: they have pulled many out of water
[19:56:04] TRC: opening up for another pier
[19:56:12] TRC: had to remove it
[19:56:56] TRC: lots still in water on iranian side
[19:57:44] TRC: Iraq has been pulling them out steady since 2003
[19:58:51] TRC: some take months to get them out
[19:59:01] TRC: very large vessels
[19:59:30] AMG: that takes money too lol
[19:59:59] TRC: after three wars,
[20:01:33] TRC: ISIS is putting up stiff resistance in Hit or Heet
[20:01:59] TRC: western Anbar
[20:02:15] TRC: small town or city
[20:02:35] TRC: they fight or die
[20:03:26] TRC: iraqi forces are 1 km from center
[20:04:28] TRC: Iraq forces in Nineveh continue liberating one town/village after another heading north
[20:08:13] TRC: a christian general was named the top leader of popular mobility forces in iraqi forces
[20:09:42] TRC: very significant, since no christian has had any high office in Iraq since saddam
[20:10:22] TRC: saddam had a few christians in high places
[20:10:41] TRC: most notably foreign minister, deputy prime minister Tariq Aziz
[20:10:57] AMG: ohh
[20:11:15] TRC: you do not remember him
[20:11:30] TRC: he was at UN meetings all the time
[20:11:44] TRC: he just died last year in prison
[20:13:23] TRC: there was over 1 million christians in Iraq under saddam
[20:13:47] TRC: now there is like 50k
[20:14:37] TRC: saddam seemed to like christians or had no indifference
[20:15:34] TRC: Abadi appointed this christian general to make a point no doubt
[20:16:51] AMG: :whistle:
[20:17:18] TRC: Sunni said popular mobility was a shiite force
[20:17:26] TRC: no longer so
[20:18:57] TRC: the largest bank in middle east made another step to privatization
[20:19:18] AMG: πŸ˜‰
[20:19:34] TRC: CBI has allowed Rafidain bank to exchange currencies, aka sell dollars
[20:19:55] AMG sent an audio message: Oh Boy!
[20:20:02] TRC: it is part of the transition to private bank
[20:20:32] TRC: private banks are only banks which sells currency
[20:21:17] TRC: Rafidain has many branches not just in Iraq but thruout Arab world and beyond
[20:22:22] TRC: it was stated after transition to private bank, deleting the zeros will be plausible, another one of those steps
[20:22:50] AMG: that reminds me, I need to contact Warka to see how my account is. :-c
[20:23:03] TRC: a couple weeks ago was said that the transition was over 90% complete
[20:23:23] AMG: steps forward…….I like
[20:23:45] TRC: Madison was in chat a lil bit ago, said she was contacted by Warka
[20:25:30] AMG: πŸ™ Warka has not contacted me (yet)
[20:26:09] AMG: …..I’ll try to reach them tomorrow
[20:26:16] AMG sent an audio message: Drumroll
[20:26:24] TRC: she said that Warka said, in e-mail that debit cards will be mailed out soon to international clients
[20:26:37] AMG sent an audio message: Say What?!
[20:26:42] AMG sent an audio message: No Way Dude!
[20:26:44] TRC: soon not sure how long that will take
[20:26:49] TRC: lol
[20:27:15] AMG: soon…………..hmmm
[20:27:50] TRC: things are moving along, hopefully soon is much sooner than in past
[20:28:54] AMG: ^.^
[20:29:42] TRC: things really do seem very good on the journey to get a convertible dinar
[20:30:05] design: πŸ™‚
[20:31:25] TRC: I would think that a branch of the largest bank in middle east would open at least one branch in USA
[20:31:48] TRC: when it is privatized
[20:33:19] TRC: most notable New York
[20:34:18] TRC: Trade Bank of Iraq has office in New York out of the JP Morgan building
[20:34:39] TRC: but it is most for iraqi government business
[20:35:34] TRC: I am pretty sure Rafidain will open in USA, at some point
[20:36:10] TRC: 25 biilion + in assets
[20:42:13] TRC: Saleh was speaking
[20:43:10] TRC: it really does look like he should be number one or two in line if a new candidates are mentioned for central bank governor
[20:44:25] TRC: Saleh seems to know what he is talking about as opposed to many other in media
[20:44:26] AMG: DC is also a good place to set up too
[20:45:06] AMG: yes
[20:45:14] AMG: he does
[20:45:20] TRC: if Abadi truly wants a candidate outside political agendas
[20:45:57] TRC: Saleh is not affiliated with any party just the business of economics
[20:46:44] AMG: that’s a plus
[20:47:25] TRC: Abadi wants ministers in cabinet with knowledge of their posting
[20:47:36] TRC: not just a good party member
[20:47:51] AMG: doing the right thing …………………he is
[20:48:15] AMG: US could learn something from him
[20:52:12] TRC: CBI is putting treasury bonds on the iraqi stock exchange
[20:55:39] TRC: will be available to buy or sell to the public thru ISX
[20:56:10] TRC: but they are working on mechanism how to do so
[20:56:30] TRC: next is forex?

Chatroom Log Sunday

[19:52:16] Stormy: Lots of political activity in Iraq
[19:52:45] TRC: yes
[19:54:00] Stormy: Abadi’s last stand? Make or break?
[19:54:54] TRC: I think he will stay
[19:55:31] TRC: not many options, but I never seen Abadi being next pm after last election
[19:56:15] TRC: thought it would have been a leading figure from previous years, he came out of the crowd
[19:57:17] TRC: al sadr said Abadi is brave, indeed, he has balls
[19:57:43] TRC: but it is the right thing to do
[19:57:55] TRC: reform
[20:00:37] TRC: Maliki’s government kept delaying reform
[20:00:55] TRC: I think because he was lining his pockets
[20:03:51] TRC: I do not think Abadi will stop pushing, if it costs him his job he does not care
[20:04:12] TRC: sadr supports his policies
[20:04:34] AMG: supports his policies too
[20:05:25] TRC: Allawi, Maliki, Hakim, and sometimes Barzani try to oppose
[20:05:51] TRC: but none like each other enough to ally against Abadi
[20:05:57] TRC sent an audio message: Laugh
[20:06:02] AMG sent an audio message: Drumroll
[20:06:34] TRC: Abadi’s party is the biggest
[20:07:14] TRC: plus they have the mady army, sadr’s professional protesters to stir things up
[20:08:15] TRC: so wolves are kept at bay as Abadi keeps pushing thru reform
[20:13:26] TRC: Iraq started exploring for oil again
[20:14:02] TRC: all the oil fields have been refurbished and are pumping at full hilt
[20:14:05] AMG: yup
[20:14:17] TRC: now looking to expand
[20:15:31] TRC: took over ten years from saddam’s end to refurbish the oil fields to full capacity
[20:16:03] TRC: who would have thunk it ten years ago
[20:16:12] AMG: lol
[20:17:44] AMG: was reading an article about in the Post about ISIS financial issues………..
[20:18:02] TRC: oh
[20:18:37] AMG: ……..seems the airstrikes on their finance centers was hurting them…………BUT
[20:18:47] AMG: …wait for it
[20:19:24] AMG: …also reducing the banknote count as well IMO….good for us πŸ˜€
[20:19:29] AMG sent an audio message: Laugh
[20:19:47] TRC: I read ISIS is using USD to pay
[20:20:17] AMG: their oil profits are down 1/3
[20:20:52] AMG: go airstrikes !!
[20:21:36] AMG: πŸ˜‰
[20:21:53] TRC: they are going to begin construction on Karbala oil refinery any day
[20:22:17] TRC: signed contract to bring in heavy machinery
[20:23:46] TRC: the designer of the new central bank died on weekend
[20:24:31] TRC: it said in reading, the construction may begin by end of year
[20:25:04] TRC: will be tallest building in baghdad
[20:25:16] AMG: yes
[20:25:35] AMG: ‘interesting design too
[20:27:35] AMG: gotta pound on someone’s desk…or send a nastygram
[20:27:35] TRC: reading they have begun issuing keys to new apartments in the new city being built near Baghdad
[20:27:57] TRC: 25,000 apartments
[20:28:01] AMG: …………….at Warka this week
[20:28:13] AMG: 25k……wow
[20:28:24] TRC: long list of people wanting one
[20:28:47] TRC: city of Bismaya
[20:28:57] TRC: koreans are building it
[20:29:17] TRC: will eventually be 1 million apartments
[20:29:43] TRC: whole new city being built out of the desert
[20:29:54] TRC: latest designs
[20:30:00] TRC: and technology
[20:30:09] AMG: not surprising, Koreans are opportunistic
[20:30:21] TRC: will be 100 new tenants to start
[20:30:32] TRC: 100 at a time
[20:30:33] AMG: they can smell that $$$$$
[20:31:11] TRC: was huge contract signed, in the billions a couple years ago
[20:31:44] TRC: building all the infrastructure
[20:32:12] TRC: mosques, sewage, hospitals, shopping malls
[20:32:17] TRC: etc
[20:32:54] TRC: it is finally inviting tenants
[20:33:49] TRC: can you imagine how happy the first tenants will be
[20:33:57] AMG sent an audio message: Oh Boy!
[20:34:03] AMG: ^.^
[20:34:58] AMG: it’ll be like Christmas time
[20:35:31] AMG: wih house warming gifts
[20:35:43] TRC: new cement plant is pumping out production capacity
[20:35:56] Stormy: Who is Al Sistani backing?
[20:35:56] TRC: since customs tariffs
[20:36:18] TRC: used to import much cement
[20:36:27] TRC: now it is all iraqi
[20:36:41] TRC: hired hundreds
[20:36:56] AMG: good
[20:37:15] AMG: put folks to work
[20:37:16] TRC: not sure who Sistani is backing
[20:38:09] TRC: I know he does not back Maliki
[20:38:25] Stormy: He is the religious big guy right?
[20:38:42] TRC: yes he is shiite
[20:39:02] TRC: but he is not significant to kurds or sunni
[20:44:00] Stormy: About a week ago, WSJ published an article about the growing divide between Iraqi Shiites and Iran. The Iraqis like US air and ground support. Apparently, US solder’s advice is better than Iran’s
[20:44:45] TRC: al sadr ignored calls from Iran, so I believe that could be so
[20:44:51] Stormy: Even Al Sadr is willing to talk to Americans
[20:45:34] Stormy: Many in Iraq feel Iran’s disrespect and heavy hand towards them.
[20:46:03] TRC: lots of articles in media say they think Abadi is going down, but the sources do not have the clout to do it
[20:46:43] TRC: something like US media saying Trump is going down every week since last June
[20:46:54] TRC: very similar
[20:47:35] AMG: hmm
[20:48:15] TRC: some in media think they can control the public’s thoughts
[20:48:51] AMG sent an audio message: Say What?!
[20:49:38] TRC: if it is in the news it must be true, that maybe was mindset thirty years ago
[20:50:26] TRC: Iraqi’s are learning fast this isn’t so, took us in west decades
[20:52:50] Stormy: Kind of like US elections when the media declares a winner with 5% of the polls counted!!
[20:53:06] AMG: lol yes
[20:53:33] Stormy: Next few weeks should be fun for both parties in US.
[20:53:48] TRC: well in democrats they have already confirmed hillary
[20:54:22] TRC: supposed super delegates have confirmed support for her in remaining states
[20:54:23] Stormy: FBI director is supposed to interview Hillary over email scandal. Lesser people have been convicted with lesser evidence
[20:54:49] TRC: Saunders has no chance
[20:55:06] TRC: unless she is actually going before the courts
[20:55:11] Stormy: One former FBI big whig says mass resignation from FBI if she is not indicted.
[20:55:35] TRC: cannot see Saunders winning white house
[20:55:41] AMG: nope
[20:55:57] Stormy: US AG has given money to HRC. No conflict of interest there???
[20:56:01] TRC: will be Trump, and mass exodus of liberals to Canada
[20:56:41] Stormy: Trump will not be able to get much done without congress if he wins
[20:57:24] TRC: Trump is working deals now behind the scenes
[20:57:39] TRC: so says his national security adviser
[20:58:03] TRC: former Reagan adviser
[21:00:26] fs: soooo, we wait…….lol
[21:01:00] TRC: waiting is fun if you are busy
[21:01:20] fs: :whistle:
[21:04:07] When is RV?
[21:04:07] Do we have date and rate
[21:08:21] fs: when is the next window for IQD IYO? 10 days, 30 days, mid april? firt part of year(June) or could it drag out to August? or is there a potential hold up/ problem?
[21:08:48] fs: A,
[21:08:53] fs: B.
[21:08:58] fs: C.
[21:09:09] fs: D.
[21:09:38] fs: multiple choice question
[21:10:13] fs: what does TF choose?
[21:10:52] TRC: I see lots of progress, but it is quite difficult, to pick a date, same as usual , IMF said by June, they said Iraq finished 3 of 5 things, so best I can do
[21:12:31] fs: I think that maybe answer C. lol
[21:12:39] TRC: but then again, they will not telegraph any thing that would suggest a big change with it’s currency before
[21:13:16] TRC: until after it has happened
[21:13:32] TRC: nature of the currency market
[21:14:07] TRC: you pick a currency and wait, if you think it will rise against yours
[21:14:17] TRC: no other way
[21:15:57] TRC: similar to stock market and a company share, if the company said they were rising its share price tomorrow at 3 o clock, that is insider trading, against the law
[21:17:15] TRC: Iraq is progressing but much slower in last ten years than we hoped
[21:17:46] TRC: it seems to be moving a speed of light now, compared to last 5 years
[21:22:26] fs: that helps πŸ˜‰ thanks TRC
[21:22:43] TRC: cool
[21:23:32] TRC: one of the main reasons is the low price of oil
[21:23:47] TRC: Iraq must stop the waste
[21:23:58] TRC: and corrupt
[21:24:09] TRC: and open up to global trade
[21:24:35] TRC: that means reform
[22:04:09] When is RV?
[22:04:09] Do we have date and rate

Chatroom Log Tuesday

[18:37:49] Ale Nur Ma~leaky: what the good word my friend?
[18:37:53] Tf: hearing more good news today…
[18:38:28] Tf: Sadr and his crowd are holding their feet to the fire…..they are shaking things up…..
[18:38:46] Tf: we can only hope the best for them….
[18:38:56] Tf: Abadi has his hands full….
[18:39:00] Ale Nur Ma~leaky: get er done boiz
[18:39:06] Tf: yes
[18:41:52] Tf: sounds like customs tariffs are working
[18:42:03] Tf: change is hard….
[18:42:15] Ale Nur Ma~leaky: did iraqis exchange of currency every go global?
[18:42:31] Tf: I don’t think so…
[19:43:22] TRC: lots to read today
[19:51:01] TRC: WorldBank thinks highly of Iraq
[19:51:27] ale: good to hear. did Iraq exchange ever go global to trade?
[19:52:09] TRC: what do you mean
[19:53:01] ale: was under the impression that they were off the blacklist and about to be able to use their currency unrestricted including foreign exchange…. or something like that
[19:53:24] TRC: oh right
[19:53:54] TRC: not yet
[19:54:13] TRC: had a bunch of more meetings with IMF
[19:54:24] ale: of course
[19:54:31] TRC: more meetings with IMF in a couple weeks too
[19:54:47] TRC: in Washington DC
[19:55:27] TRC: CBI governor has not been in his office much
[19:55:55] ale: keepin busy
[19:56:06] TRC: WorldBank is offering Iraq up to 15 billion dollars
[20:00:03] TRC: everybody is throwing money at Iraq
[20:00:06] When is RV?
[20:00:06] Do we have date and rate
[20:00:09] TRC sent an audio message: Drumroll
[20:00:25] ale: incentive money?
[20:00:35] TRC: good investment
[20:00:39] ale: what are they saying they are doing it for
[20:00:44] ale: oh, investing
[20:00:54] TRC: G7, IMF, WORLDBANK,
[20:01:46] TRC: they expect Iraq to be the leader of Arab world
[20:02:10] ale: can’t do it until they turn around the dinars inflation
[20:02:50] TRC: yes, it is coming
[20:03:10] ale: when?
[20:03:14] ale sent an audio message: Laugh
[20:03:21] TRC: do not know
[20:03:22] ale sent an audio message: Drumroll
[20:03:32] ale: therin lies the beauty.
[20:03:41] TRC: but you read WorldBank director’s speech
[20:03:43] ale: it’ll definItely be a surprise at this point
[20:04:34] TRC: he said the WorldBank is investing 20 billion in middle east, 15 billion is earmarked for Iraq
[20:05:27] ale: any catch for them to write the check?
[20:05:59] TRC: IMF said that Iraq completed 3 out of 5 conditions to move forward
[20:06:09] ale: hmmmm
[20:06:29] TRC: two more things
[20:06:42] TRC: thinking one is the banking law
[20:07:02] TRC: not sure on the other
[20:07:06] TRC sent an audio message: Laugh
[20:08:14] ale: so maybe these will hold up any revalue. at this point i see ANYTHING will hold it up due to “security, money laundering” and all the other excuses they always list
[20:08:22] TRC: when Iraq is approved by article 8, Iraqi dinar will be convertible
[20:08:58] TRC: IMF said two more things need to be done to move forward
[20:09:17] ale: one could be the rv
[20:09:34] AMG: slow newsday
[20:10:05] TRC: well, AMG thinks Mosul being retaken by iraqi forces is key
[20:11:14] AMG: I still do think it plays a major part
[20:11:34] TRC: getting to Article 8 with IMF requires movement by the government, but maybe Article 8 and Mosul liberation will happen same time
[20:11:35] AMG: before they turn it loose
[20:11:48] AMG: would be nice
[20:12:03] TRC: it is definitely getting closer
[20:12:24] AMG: agrees
[20:12:38] AMG sent an audio message: Drumroll
[20:13:06] AMG: still need to go to Vegas
[20:13:18] AMG: ………….it’s on my bucket list
[20:13:47] TRC: Vegas is definitely someplace to avoid
[20:14:12] AMG: been to little Vegas
[20:14:15] TRC: if you have money
[20:14:18] AMG: lol
[20:15:22] TRC: ale I am now speaking freely of article 8, it is coming
[20:15:39] AMG sent an audio message: Oh Boy!
[20:16:50] TRC: seen some reading about CBI limits now the amount of cash to cross border to 3,000 USD
[20:17:05] TRC: but never seen officially
[20:17:15] TRC: on another site
[20:17:24] TRC: was 5,000 USD
[20:19:46] TRC: I know I can carry up to 10,000 USD across border
[20:20:14] TRC: so that is very small amount
[20:22:26] TRC: most western countries border law is ten thousand USD
[20:22:47] TRC: wonders why it is so low for Iraq
[20:25:34] TRC: when oil goes back up even partially to what it was Iraq’s GDP will hover close to 300 billion
[20:26:08] TRC: within 5 years it will most surely be hovering around 1/2 a trillion
[20:26:43] TRC: agriculture production is jumping every year
[20:27:30] TRC: as AMG says after Mosul is liberated Iraq will become an exporter of wheat for example
[20:27:56] TRC: WorldBank sees nothing but upside
[20:28:58] TRC: by next year Iraq will be exporting at least three shipments a month of gas
[20:33:06] TRC: of course there is politics
[20:33:24] TRC: Abadi seems to have a skill,
[20:33:56] TRC: working in a sneaky sort of way with abadi,
[20:34:03] TRC: is Sadr
[20:35:18] AMG: hmm yes Sadr too
[20:35:49] AMG sent an audio message: Drumroll
[20:37:14] TRC: but you want specific date when Article 8 is law at IMF with Iraq, cannot tell you
[20:38:26] TRC: could be in April
[20:38:39] TRC: but not sure
[20:39:14] TRC: IMF meetings in Washington DC middle of April
[20:43:50] TRC: CBI governor also said current currency auctions will pretty much disappear this year
[20:44:11] TRC: but he never said a date
[20:44:39] TRC: currency auctions in the last month are down by 50%
[20:45:20] TRC: so it is quite possible going down much further quite fast
[20:46:04] TRC: phasing out auctions creating a forex market for currencies at the ISX
[20:47:13] TRC: all of these meetings with WorldBank, IMF is pushing Iraq forward
[20:47:51] TRC: more meetings is good news
[20:48:11] TRC: short of a rv of course, or a convertible IQD
[22:24:43] Tf: history in the making….
[22:24:59] TRC: new cabinet should be put before parliament Thursday
[22:27:33] Tf: yes
[22:29:21] Tf: I hope Abadi can keep the wolves at bay…..I hope Iraq can prosper….for all Iraqis…
[22:30:16] Tf: no one can fault them…..for all they have overcome…..they still have a ways to go….
[22:30:45] Tf: I can’t see Maliki and his crowd staying around much longer…..
[22:31:01] Tf: the people won’t allow it….

Chatroom Log Tuesday

[18:05:36] teledive: looks like they dumped a large task on Abadi!
[18:06:09] TRC: well they gave Abadi a month to change ministry heads
[18:06:21] TRC: parliament did
[18:06:32] teledive: πŸ™‚
[18:06:56] TRC: and independent bodies heads, aka central bank governor
[18:07:38] teledive: oh no make way for Shabbi
[18:07:39] teledive: πŸ™‚
[18:07:53] TRC: Abadi is cutting ministries, and eliminating heads appointed thru proxy
[18:08:15] teledive: good for him!
[18:08:45] TRC: so parliament gave him the nod to do so, but each candidate will need approval by a vote in parliament
[18:09:13] teledive: oh so some time next year…just kidding
[18:09:15] teledive: πŸ™‚
[18:09:30] TRC: March 1st supposedly some candidates will be named
[18:09:54] TRC: Shabibi name could pop up
[18:10:48] teledive: πŸ™‚
[18:12:51] TRC: Saleh too maybe for CBI
[18:14:32] teledive: rather Shabibi
[19:18:18] AMG: seems like thre tribes have had enough of IS ^.^
[19:18:34] TRC: thats three towns/cities
[19:18:41] AMG: deja vu
[19:18:49] TRC: in Anbar
[19:18:54] AMG: loves it
[19:20:50] TRC: Baghdad is putting down iron fist with customs tariffs
[19:21:19] AMG: very good
[19:21:37] TRC: according to Saleh
[19:22:21] AMG: my buddy Saleh lol
[19:23:05] TRC: sending out a force or squad with only one job to all border crossings to make sure fees are paid
[19:23:24] TRC: and quality control is being implemented
[19:23:41] TRC: to all provinces
[19:25:12] AMG: nice
[19:25:31] TRC: only one boss they answer to, Mr Abadi
[19:25:36] TRC sent an audio message: Oh Boy!
[19:25:43] AMG sent an audio message: Drumroll
[19:26:25] TRC: remember Abadi only sleeps one hour a nite
[19:26:36] TRC: πŸ™
[19:26:44] AMG: maybe by summer we an pop the cork ^.^
[19:26:55] TRC: he is micro-managing so many areas
[19:27:25] AMG: might be a good thing……………….in this partcular case
[19:27:57] AMG: if it produce what we desire
[19:28:55] TRC: he will get people he trusts in high positions in the next month from what I am seeing
[19:29:14] AMG: one month
[19:29:35] AMG: good that he has support
[19:29:37] TRC: not sure if all will be replaced, or not
[19:30:04] TRC: am thinking those now in high places do not know either
[19:30:51] TRC: including CBI governor
[19:32:11] TRC: am prety sure Shabibi has had a phone call, whether it was significant or not concerning the movements in Iraq
[19:34:07] AMG: πŸ˜‰
[19:55:27] TRC: eServGlobal launches Zain Cash mobile money in Iraq
[19:55:34] TRC sent an audio message: Drumroll
[19:56:40] AMG: ok ^.^ thanx
[20:01:44] TRC: I am not sure if you have noticed, but the currency auctions since the customs tariffs were implemented are getting smaller volumes
[20:02:29] TRC: as the customs tariffs become a daily reg activity, the currency auctions will disappear
[20:02:44] TRC: the dinar value will rise
[20:03:15] TRC: the USD will also disappear in Iraq
[20:04:07] TRC: things are moving in right direction
[20:04:20] TRC: thanks mainly to Abadi
[20:10:02] TRC: volume at auctions have dropped from 200 million to less than 100 million
[20:10:21] TRC: this is gradual process
[20:18:07] TRC: the IQD will be convertible very soon
[20:21:18] AMG: haven’t looked at the auctions…………………..in months
[20:22:08] AMG: wow that drop is significant
[20:22:08] TRC: customs tariffs eliminates the needs of a currency auction or the USD
[20:22:26] TRC: therefore support a convertible IQD
[20:22:31] AMG: moving in the right direction
[20:22:55] AMG sent an audio message: Oh Boy!
[20:23:01] TRC: Iraq will issue eurobonds in second half of 2016
[20:23:18] TRC sent an audio message: Drumroll
[20:23:28] AMG sent an audio message: Drumroll
[20:42:56] TRC: customs tariffs are sticking
[20:43:23] TRC: if you recall I said that is key to bringing the dinar out from the cold
[20:43:59] TRC: one of the keys
[20:44:00] ale: yes u did
[20:44:17] TRC: the currency auctions are begining to fade
[20:44:43] TRC: the need for USD will fade along with it
[20:44:59] TRC: dinar will become the currency in Iraq
[20:45:15] TRC: will allow it to become convertible
[20:46:04] AMG sent an audio message: Drumroll
[20:46:06] ale: then we can …. wait for it….. BUY CONVERTIBLES!
[20:46:13] ale sent an audio message: Laugh
[20:46:21] ale sent an audio message: No Way Dude!
[20:46:29] AMG sent an audio message: Say What?!
[20:46:32] ale sent an audio message: No Way Dude!
[20:47:20] ale: well i hope they fast track it. im done waiting lol
[21:08:28] AMG: good news today
[21:22:31] TRC: currency auctions are shrinking, as customs tarriffs become engrained
[21:22:42] fs: :-c
[21:23:04] teledive sent an audio message: Oh Boy!
[21:23:53] TRC: you want that in english?
[21:24:58] TRC: iraqi dinar will be getting stronger
[21:25:45] fs: Got it!! Thank you !! Feeling more GRAND, now!
[21:27:40] TRC: customs tariffs were big part of getting the dinar to convertible
[21:27:41] fs sent an audio message: No Way Dude!
[21:28:27] teledive sent an audio message: Drumroll
[21:28:30] TRC: Abadi will not turn back on that
[21:28:43] teledive sent an audio message: Are you sure?
[21:28:57] teledive: techno humor
[21:29:16] TRC: from the looks of things yep he putting down his fist
[21:29:44] teledive: finally a pm with a vision
[21:29:55] TRC: parliament seems to be giving him enough support to continue
[21:30:49] teledive: and Barzani is finally coming around
[21:31:12] TRC: I am begining to think Abadi would have had more difficult task with tariffs etc, if oil prices were still 100 per barrel
[21:32:18] TRC: Iraq needs IMF support, IMF said they would not get any if the reforms were not implemented
[21:38:46] fs: what do you think we’ll see by March 1st?
[21:40:23] TRC: I do not know
[21:42:31] Tf: not many days left in February….

Chatroom Log Monday

[20:13:28] TRC: lots of news
[20:16:56] Tf: yes…let’s hope it is all true….and that it sticks…..
[20:27:24] TRC: Iraq just signed huge contract worth 13 billion dollars
[20:27:31] TRC: with China
[20:27:47] TRC: just in a few hours ago
[20:27:58] TRC: :-c
[20:28:07] Tf sent an audio message: Oh Boy!
[20:28:20] TRC: biggest contract in Iraqi history
[20:28:32] Tf: I was thankful to finally hear the tariffs are implemented…..
[20:28:42] Tf: been waiting for that….
[20:29:29] TRC: no details of the deal released yet
[20:29:30] Tf: I am hoping the Kurds don’t change their minds again….
[20:29:56] TRC: UK based reuters released the news
[20:30:04] TRC: tonite
[20:30:14] Tf: we have waited for this day for a long time….
[20:30:35] Tf: what is holding back the rate now????
[20:31:20] Tf: ISIS is being driven out of Iraq….
[20:31:57] Tf: I would like to see Abadi turn the dogs loose on Maliki and his crowd….
[20:32:26] Tf: find those billions of dollars that were stolen from Iraq….
[20:33:24] Tf: well, I will be quiet….
[20:33:57] TRC: lol
[20:35:05] TRC: very hard to get a 50,000 note
[20:35:30] TRC: financial companies are using them for moving large amounts
[20:41:56] TRC: now to look at big picture, in IMF agreement , it said by end of February it is expected that restrictions would be lifted on foreign exchange rate with Iraq’s currency included is the implementing of the amendments with investment law
[20:42:30] TRC: so take this into consideration when reading daily news
[20:43:01] TRC: Was posted the IMF document long time ago now it seems
[20:43:15] Tf sent an audio message: Drumroll
[20:43:16] TRC: did anybody read it
[20:43:20] TRC: lol
[20:43:23] AMG: many moons ago
[20:43:36] TRC: also mentioned article VIII
[20:43:45] AMG: thinks he did
[20:43:47] Tf sent an audio message: Drumroll
[20:44:04] TRC: seems many forgot, was discussing this with somebody
[20:44:11] TRC: they said what?
[20:44:15] AMG sent an audio message: Are you sure?
[20:44:22] TRC: lol
[20:44:27] AMG sent an audio message: Say What?!
[20:44:34] AMG: lol
[20:45:01] TRC: look at big picture
[20:45:18] TRC: don’t sweat the day to day stuff
[20:45:21] AMG: i do
[20:45:46] TRC: we should see something very interesting by first of March
[20:45:48] fs: /:-c
[20:45:58] AMG: (look at the bigger picture that is) lol
[20:46:06] Tf: well, I was afraid the Kurds weren’t going to get with the program…concerning the tariffs….
[20:46:13] AMG: yes, my pay raise
[20:46:17] AMG sent an audio message: Laugh
[20:46:21] Tf: I was thankful to hear they were….
[20:46:35] AMG: seriously though yes
[20:46:49] Tf: now, let’s hope they follow through this time…..
[20:46:59] AMG: Kurds on board it seems
[20:47:04] AMG sent an audio message: Drumroll
[20:47:28] Tf: I have felt Abadi is working hard to make this happen….
[20:47:47] Tf: I do wish they would go after Maliki and his crowd….
[20:48:16] Tf: it would help Iraq heal….in more ways than one….
[20:48:18] TRC: yes fs, it is in IMF agreement , there is schedule Iraq must meet to bring the Iraqi currency out of the closet
[20:48:39] TRC: this year
[20:48:52] fs: wow !!!
[20:49:08] TRC: now gurus said before for many years there was schedule but that was false
[20:49:45] TRC: there is actual IMF document signed for this year
[20:50:31] TRC: now on rv, or exchange rate, I cannot give any predictions or expectations
[20:50:55] TRC: just what is typed in document
[20:52:21] TRC: there is rumors out saying currency auctions end in March
[20:52:35] TRC: but CBI denied this
[20:52:36] AMG: rumors yes\
[20:53:10] TRC: but we cannot take the rumors or that CBI denied, either seriously
[20:53:18] TRC: lol
[20:53:29] AMG: lol
[20:53:34] fs: lol ;/
[20:53:46] fs: πŸ™
[20:53:46] TRC: nature of the investing in currency values, like playing poker
[20:54:14] TRC: is he bluffing? is he not bluffing?
[20:54:35] TRC: look at the facts put your cards on the table
[20:55:42] fs: sounds like life in a fallen world……:whistle:
[20:56:41] TRC: oh?
[20:57:46] TRC: facts are very interesting
[20:58:20] fs: I appreciate the facts very much, and knowing your honest!
[20:58:46] TRC: very interesting indeed
[21:00:41] When is RV?
[21:00:41] Do we have date and rate
[21:00:50] fs: Jesus must have been refering to gurus when he said, forgive them for they know not what they are doing… or something like that. ^.^
[21:01:16] TRC: yes
[21:01:57] fs: :rose: Your great, thank you trc!
[21:02:35] Tf: it won’t be the first time God used Babylon to fulfill His purpose for the hour….
[21:02:51] fs: Amen!
[21:04:24] TRC: :bow:
[21:17:44] Stormy: Are tariffs going to stick this time?
[21:18:44] Tf: they said they are
[21:19:02] Tf: we will know when the dinar is given a rate.,,
[21:19:33] Tf: the Iraqi people are already up in arms….
[21:20:04] Tf: can you imagine what they would do if the dinar is not given more value?
[21:21:37] Tf: these are things I think about…
[21:21:49] Tf: I am no guru…
[21:30:30] Stormy: Tariffs gonna stick this time?
[21:31:10] TRC: would think so
[21:31:31] TRC: it has already went longer than last time

Chatroom Log

[19:23:11] TRC: good news today
[19:24:05] ronnie: whats the good news
[19:24:41] TRC: custom tariffs are activated
[19:25:24] ronnie: was that a stipulation
[19:25:29] TRC: global stock market director in Iraq has asked central bank to bring the iraqi dinar into global markets
[19:26:06] TRC: custom tariffs brings revenue into treasury
[19:26:24] ronnie: thats the kind of news i like to hear
[19:27:42] ronnie: I have been dreaming about, always 3.20
[19:27:58] ronnie: dinar
[19:28:05] TRC: not sure what the value will be
[19:28:54] TRC: the budget is still not published but it is supposed to be this week
[19:29:25] ronnie: it would surprise me if over a dollar
[19:30:50] ronnie: what happened to meeting resuming on 16th
[19:31:22] TRC: parliament?
[19:31:31] ronnie: yes
[19:31:36] TRC: 19th
[19:31:45] ronnie: ok
[19:33:06] ronnie: I just have feeling
[19:33:11] TRC: lots of good stuff happening concerning the dinar
[19:33:29] TRC: investment law was published on Friday
[19:33:35] ronnie: I agree
[19:33:56] TRC: allows free movement of money in/out of iraq
[19:34:21] ronnie: IMF advising CBI now
[19:34:33] TRC: yes
[19:35:11] TRC: two groups of experts to guide Iraq into global markets one from US Treasury, other from Worldbank
[19:35:25] ronnie: yes
[19:35:52] TRC: Iraq is scheduled to join global markets early 2016
[19:36:11] TRC: thats all we know
[19:37:30] ronnie: later guys good to chat again TRC
[19:56:54] design: good stuff today
[19:58:08] TRC: πŸ™‚
[20:07:44] TRC: customs tariffs are being implemented as of today
[20:09:31] AMG sent an audio message: Yahoo!
[20:12:01] AMG: what’s next……………………..Tuesday session
[20:13:36] TRC: you read invitation to link iraqi dinar to global markets
[20:14:22] TRC: global stock rep invited Iraq to link the iraqi dinar to global market
[20:14:35] AMG: good stuff
[20:15:27] TRC: he said linking the dinar to global markets ends the need of currency auction
[20:16:19] TRC: also says individuals can hold the dinar as investment against global currencies
[20:16:27] TRC: :whistle:
[20:17:05] TRC: the dinar exchange rate will be determined by a basket of world currencies
[20:18:49] TRC: european union opened officially political, economic and trade relations with iraq today
[20:18:56] TRC sent an audio message: Oh Boy!
[20:19:11] AMG sent an audio message: Oh Boy!
[20:19:32] TRC: new EU ambassador delivered his credentials to the President
[20:21:38] TRC: finance minister released official document today to ministry of interior, industry, transport and authority for customs and taxes to apply provisions of article 24 of 2016 budget
[20:22:18] TRC: basically to collect taxes and fees
[20:22:31] TRC: protect national product
[20:22:44] TRC: protect consumer
[20:23:10] TRC: border crossings have ten days to apply all fully
[20:23:19] TRC sent an audio message: Oh Boy!
[20:23:48] AMG: yes
[20:23:52] AMG sent an audio message: Drumroll
[20:23:54] TRC: two border crossings are not open now but will be in a few days
[20:24:13] TRC: Trebil with Jordan and another with Turkey
[20:24:45] AMG: Are we there yet? πŸ˜€
[20:24:52] AMG sent an audio message: Drumroll
[20:25:15] TRC: so if a new mechanism with the dinar is to happen they most likely have two weeks to do so
[20:25:42] AMG sent an audio message: Oh Boy!
[20:26:37] TRC: there was another lengthy article too about unifying the iraqi dinar exchange rate, but was very long in official iraqi newspaper
[20:27:02] TRC: basically saying same thing as what was posted last week
[20:27:03] AMG: oh
[20:27:54] TRC: posted last week about unifying dinar rate
[20:29:56] TRC: now that we have customs tariffs started, the CBI can consider stopping auctions
[20:30:20] TRC: the government made commissions from auctions
[20:30:30] TRC: they made money
[20:30:58] TRC: but now they will make money from tariffs they dont need auctions
[20:31:09] TRC: make alot more
[20:31:33] TRC: can enable releasing the dinar
[20:31:36] AMG sent an audio message: Drumroll
[20:31:54] TRC: we are much closer than ever
[20:32:23] AMG: yes we are
[20:32:38] AMG: loves it
[20:33:10] TRC: I doubt customs tariffs will be cancelled this time
[20:33:21] TRC: Abadi will refuse
[20:33:27] AMG: hope not
[20:34:02] TRC: most likely need two weeks before CBI does act, to see if tariffs stick
[20:36:02] design: πŸ™‚

Chatroom Log Thursday

[10:16:35] Tf: the dinar moved to 1061.7 at the end of Iraq’s business day….
[10:16:53] Tf: never been this high before….
[10:17:21] Tf: I am hoping and praying we see it revalue soon…
[10:17:51] Tf: hoping and praying is all I can do….
[20:06:03] AMG sent an audio message: Yell!
[20:06:35] AMG: lots of CBI stuff today…….
[20:07:10] TRC: yes
[20:07:23] TRC: CBI governor was on tv
[20:07:34] AMG: good
[20:07:40] TRC: for an hour
[20:07:45] AMG: to reach the masses
[20:08:08] TRC: trying to quell all the rumors which have caused turmoil in currency market
[20:08:21] AMG: hope they understand what the future holds
[20:08:27] TRC: politicians and merchants
[20:08:49] AMG: rumors πŸ™
[20:08:52] TRC: IQD went way up today on forex charts
[20:09:08] TRC: last look it was 1056, new high
[20:09:34] TRC: went up ten dinars today
[20:09:54] AMG: ohh
[20:10:11] TRC: CBI governor said Warka Bank be back shortly
[20:10:21] AMG sent an audio message: Yahoo!
[20:10:34] AMG: I missed that
[20:10:40] AMG sent an audio message: Oh Boy!
[20:11:20] AMG: great news to me
[20:11:31] TRC: they liquidated the Basra branch due to real estate debt
[20:12:23] AMG: oh
[20:12:47] AMG: good to get them in order
[20:12:50] TRC: IMF approved the financial plan for Iraq, it is now activated, will bring Iraq back into global financial system
[20:13:07] AMG: outstanding
[20:13:22] TRC: a group of experts have begun duty in guiding them
[20:14:05] TRC: in fall I believe it said when it began will take a few months to complete task
[20:14:24] AMG: you just made my day TRC ^.^
[20:14:37] TRC: remember it said Iraq will rejoin global financial system in 2016
[20:14:46] AMG: yup
[20:14:53] TRC: πŸ™‚
[20:15:24] TRC: maybe thats why forex charts showed the IQD going up a record ten dinars in one day
[20:15:40] TRC: this is price outside Iraq
[20:15:49] AMG: ^.^
[20:16:10] TRC: maybe it will go up another twenty before end of week
[20:16:54] TRC: it has been rising over the last couple months but only a couple dinar a week
[20:17:17] TRC: this week it has went up 15 thus far
[20:17:57] AMG sent an audio message: Drumroll
[20:19:49] AMG: it’s a sign i tell you!!!
[20:19:53] AMG sent an audio message: Drumroll
[20:21:09] TRC: the CBI governor said on another article which was not didn’t posted that he thinks many do not like him, spreading so much false info
[20:22:12] AMG: the rumor mill in full effect
[20:22:49] TRC: lots of stuff out there
[20:22:53] design sent an audio message: Drumroll
[20:23:02] TRC: but had a feeling it was not true
[20:23:13] design: good stuff!
[20:23:20] AMG: yes it is
[20:23:39] TRC: even Reuters had one saying government would begin drawing down reserves at CBI
[20:23:49] design: πŸ™‚
[20:23:51] TRC: governor said not true
[20:23:54] AMG: Warka is coming back ^.^
[20:23:59] AMG sent an audio message: Yahoo!
[20:24:22] TRC: many articles said IQD was being devalued
[20:24:25] TRC: not true
[20:24:27] AMG: listen to the governor
[20:24:50] TRC: another said CBI was broken into
[20:24:52] TRC: not true
[20:24:54] AMG: EF Hutton
[20:25:00] AMG: saw that
[20:25:04] AMG sent an audio message: Laugh
[20:25:24] TRC: got to just stay calm reading the news
[20:25:35] TRC: ask Me if its true
[20:25:39] TRC sent an audio message: Laugh
[20:25:59] AMG: is calm as a cucumber
[20:26:04] AMG sent an audio message: Drumroll
[20:26:15] TRC: it did drive IQD price up on the street in Iraq
[20:26:48] design sent an audio message: Drumroll
[20:26:49] TRC: another rumor was CBI had stopped auctions due to running out of USD
[20:26:59] TRC: not true
[20:27:01] AMG sent an audio message: Laugh
[20:27:24] TRC: never seen so many false stories in a week
[20:27:38] AMG: amazing ain’t it
[20:28:57] design: lol
[20:29:20] TRC: something has got to be brewing
[20:29:25] TRC: :whistle:
[20:29:38] design: πŸ˜‰
[20:29:47] AMG: I agree TRC
[20:32:23] TRC: I did say when investment law was activated, the currency would be free, but was assuming customs tariffs would also be activated
[20:34:01] AMG: early 2016
[20:34:08] AMG sent an audio message: Drumroll
[20:35:26] TRC: not sure how high the IQD will go on forex charts before we will see something with CBI site
[20:35:51] TRC: the distance is increasing in the swings from 1166
[20:36:12] TRC: 110 dinars now
[21:00:27] AMG: thanx for the updates
[21:01:10] TRC: yw
[21:01:28] TRC: was all about CBI
[21:01:31] AMG sent an audio message: Drumroll
[21:01:44] AMG: yes and all good
[21:01:49] TRC: good luck
[21:01:56] TRC: πŸ˜›
[21:01:59] AMG: back at ya
[21:31:18] Tf: sounds like it was a big day…
[21:31:34] TRC: interesting
[21:31:38] Tf: a whole lot of shaking going on…
[21:45:07] TRC: just moved to 1054
[21:45:16] TRC sent an audio message: Drumroll
[21:45:47] Tf: thank you, TRC…I haven’t checked it since this morning…
[21:45:53] Tf: it is moving now….
[21:46:53] Tf: did it go back to 1166 today?
[21:48:41] TRC: don’t know
[21:58:54] Tf: I wasn’t able to watch it today..
[22:00:05] When is RV?
[22:00:05] Do we have date and rate
[23:08:51] Tf: we are in uncharted territory now…
[23:09:16] Tf: we know we need to see some postings in the Gazette..
[23:09:32] Tf: we know they need to implement the customs tariffs….
[23:10:01] Tf: we know they need to continue to take their country back from ISIS…
[23:11:35] Tf: we know Baghdad and Erbil need to solidify their agreements….and follow through with the HCL…
[23:12:13] Tf: I say they need to turn the dogs loose on Maliki and his crowd….
[23:13:11] Tf: IMO, that would help Abadi, and all of Iraq….not to find a scapegoat….but, to hold people accountable….whoever they are….
[23:13:42] Tf: so, from what you read today….does it look like Allaq is one of the good guys…
[23:13:59] Tf: he is not part of the corruption?
[23:14:19] Tf: someone said he was funneling money to Maliki….
[23:14:31] Tf: I was hoping it was not true….
[23:14:53] Tf: your thoughts, TRC?
[23:15:37] TRC: what is a good guy
[23:15:48] Tf: Allaq
[23:16:04] TRC: think he is ok
[23:16:13] Tf: I mean good….in that he is working for the good of Iraq…
[23:17:32] TRC: I hope so
[23:17:38] Tf: me, too
[23:17:58] Tf: things are moving now….
[23:18:22] Tf: Abadi is making it happen…
[23:18:39] Tf: in spite of all the setbacks of last year…
[23:19:04] Tf: the IMF article was good news….
[23:20:03] Tf: we have waited for these times….
[23:20:25] Tf: remember when we went for months….never seeing any change…
[23:20:37] Tf: we just talked about what needed to happen….
[23:21:02] Tf: now, we are seeing changes on a daily basis….
[23:21:26] Tf: still waiting for the rv… but, things are moving in that direction…
[23:21:37] Tf: it all is good….
[23:23:01] Tf: Uncle Sam will get almost double the capital gains tax now….it went from 15% to 28%
[23:23:40] Tf: Trump is holding his own…

Chatroom Log Wednesday

[19:20:43] TRC: looks like they want to decrease budget expenses,
[19:20:56] Tf: oh
[19:21:34] Tf: another day….anyway….
[19:21:40] TRC: but they failed to realize that most products are imported thru government owned companies, which will increase expenses for the iraqi citizen
[19:22:10] Tf: I thought they were just making a test run…
[19:22:18] TRC: devaluing the official price against the dollar
[19:22:24] Tf: for the real thing…
[19:22:46] TRC: we really dont know, what CBI is doing
[19:23:03] Tf: yes…
[19:26:33] AMG: TRC quote: we really dont know, what CBI is doing. So we wait to see what happens next
[19:26:39] AMG sent an audio message: Drumroll
[19:26:45] TRC: will this change close the distance between street rate and official rate
[19:27:09] TRC: forex charts show increasing value
[19:27:17] Tf sent an audio message: Drumroll
[19:27:41] AMG: nothing for AMG to get excited about…………………………………………yet
[19:27:48] AMG sent an audio message: Drumroll
[19:29:18] TRC: then there is budget, decreasing value of currency lessens expenses supposedly, but in Iraq most imports are purchased by government owned companies, so imports will cost more with lower value
[19:29:50] TRC: so.. are they increasing prices for citizens to fill gap
[19:30:18] TRC: purchasing power is less for iraqis
[19:30:40] TRC: it is only 14 dinars de-valuation in official price
[19:30:52] AMG: hmm, not what they want
[19:31:54] TRC: maybe it will change again tomorrow, not sure what exactly is going on
[19:32:08] TRC: but Thursday is holiday
[19:32:20] TRC: not sure if CBI is closed
[19:36:53] TRC: iraqi cabinet have been meeting this week to cut 5 trillion from the 2016 budget
[19:37:32] TRC: so from what it looks right now, devaluing the dinar helps to reach the target
[19:38:24] TRC: now in long term as I said before this will not cut expenses, but to get budget passed it will
[19:38:37] TRC: temporary
[19:39:00] TRC: if you are crunching numbers
[19:39:36] TRC: IMF said they would not get 2 billion dollar loan if they did not cut more expenses
[19:39:55] TRC: but they advised not devaluing the dinar
[19:39:59] TRC: lol
[19:40:09] TRC: so thats where we stand
[19:42:20] AMG: whoa
[19:43:11] AMG: thanks
[19:44:02] TRC: it is one of those interesting moments the official exchange rate changed
[19:44:17] TRC: last time was a few years ago
[19:44:54] TRC: it has never been adjusted in December, so that tells you they can change it anytime
[19:47:26] TRC: also we must see if street rate remains same
[19:47:42] TRC: been hanging around 1200
[19:48:28] TRC: if it does not change the 2% difference between official/street rate would be met
[19:49:10] TRC: is this what is need to lift restrictions on the currency
[19:49:39] AMG: hmm
[20:11:20] Stormy: Just waiting for Iraq to take over Ramadi
[20:12:27] TRC: they are preparing to take Sharqat
[20:12:35] TRC: north of Baiji
[21:04:22] teledive sent an audio message: Oh Boy!
[21:11:43] teledive: news a little suspect but still moving along!
[21:11:53] TRC: suspect
[21:13:20] AMG: :*-/
[21:14:05] teledive: just lots of noise surrounding it
[21:14:06] teledive: πŸ™‚
[21:15:58] TRC: devaluing currency is not what we were looking for
[21:16:00] teledive: I suspect it will be the calm before the storm
[21:16:07] teledive: πŸ™‚
[21:17:03] teledive: forex closed out today at 1107…
[21:19:22] TRC: forex trate is seperate from official/street rate in Iraq, because IQD is not officially traded
[21:20:16] teledive: by far I am not happy over but it is what it is….
[21:20:33] TRC: IQD is not allowed to trade
[21:24:40] TRC: Iraq needs to activate some laws most notably the investment law
[21:28:59] TRC: lift restrictions on the currency
[21:34:40] TRC: am thinking investment law will be soon along with custom tariffs
[21:55:04] TRC: was mentioned December 15th
[22:13:49] Tf: read an article today talking about the 250 and 500 dinar notes….
[22:14:23] Tf: we never talk about the lower denoms being issued anymore….
[22:14:41] Tf: The CBI hasn’t said anything about them for some time now…
[22:15:32] TRC: that was so called experts saying that not employed by CBI
[22:15:33] Tf: for all we know, they are ready to be issued….just sitting on a shelf somewhere….waiting….
[22:16:44] Tf: we have said all along that Iraq wants the highest rate for its dinar…they know what rate they want…
[22:18:00] Tf: as far as moving this ahead….we used to say they would issue lower denoms when they gave the dinar its rate…..I suppose that thinking still applies??
[22:19:09] Tf: the international rate will give the Iraqis more purchasing power…..
[22:19:57] TRC: IMF advised Iraq not to devalue, but CBI went ahead and did

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Chatroom Log Wednesday

[18:54:15] design: latest post talks of “float!
[18:58:18] design: media leak!
[19:00:37] When is RV?
[19:00:37] Do we have date and rate
[19:00:40] design sent an audio message: Oh Boy!
[19:16:39] design: u see post on “float
[19:16:48] design: media leak!
[19:16:49] AMG: slow news day
[19:25:41] AMG: oh, just saw that post……….not sure who that person is talking but……….
[19:26:20] AMG: ……not sure what to think about it
[19:26:41] design: me either lol
[19:26:59] design: don’t really know who said it
[19:28:26] AMG: float or no float………………….just DO SOMETHING Iraq !!!!
[19:28:32] AMG sent an audio message: Drumroll
[19:30:59] design: you bet…. anything! do it…
[20:03:13] TRC: whats new
[20:04:01] AMG: post on the float………………design and I were talking about……………..your thoughts
[20:04:27] AMG: was not sure what to think of it
[20:05:13] TRC: it mentioned the salary scale
[20:05:56] AMG: wonders if a float would be effective at this point in time
[20:06:15] ALE: float will only spur on speculators
[20:06:16] TRC: now Abadi tried to impose salary scale on government officials, per IMF advice or shall we say need to be done to get assistance
[20:06:39] TRC: parliament opposed this
[20:06:48] AMG: but he got pushback on that
[20:07:25] TRC: now media experts are speculating they will see lifting the fixed rate on the dinar
[20:07:38] ale: when?
[20:07:45] TRC: to increase liquidity
[20:07:51] TRC: in market
[20:08:37] TRC: from what it says looks before end of year, but when is not something I can answer
[20:08:38] AMG: liquidity is a problem…………………..hmm, wonder how the sale of gold is working out
[20:09:07] ale: lol was wondering if they said when.
[20:09:22] ale: probably wont ever say too much
[20:09:41] TRC: with investment law activated which it is not yet, free movement of money between states can begin
[20:10:04] ale: has to be announced in gazzette
[20:10:18] TRC: per not relying only on CBI pumping money into economy
[20:11:31] AMG: wonders if they can “finish” before 2016
[20:11:31] TRC: looks like the days of fixed rate is coming to a close
[20:11:46] AMG: nice
[20:12:24] ale: IMO, let it float and let the fun begin.
[20:12:47] AMG: they seriously need to actually DO Something ………….SOON
[20:13:19] design: thanks for the explanation guys
[20:13:21] TRC: iraqi media thinks something is coming
[20:13:34] AMG sent an audio message: Oh ohh!
[20:13:43] design: πŸ™‚
[20:13:44] AMG: the media
[20:13:46] ale: sure looks like it
[20:14:00] ale: too cautious to get my hopes up
[20:14:05] AMG: yup
[20:14:12] AMG: πŸ˜‰
[20:14:27] TRC: will not be free float tho by sounds of this article
[20:14:59] ale: I don’t think they will do that. about 10 years ago when Iraq was negotiation the groundwork for the zero plan…
[20:15:10] TRC: more like Kuwait,
[20:15:15] ale: they said they wanted to deter speculation as part of the process
[20:15:18] ale: if they float
[20:15:21] TRC: can only move so much
[20:15:28] ale: and it starts to go up in value
[20:15:39] ale: everyone that didn’t invest will buy up the dinar
[20:15:51] ale: they won’t get their bills back for a while
[20:15:58] ale: they need to rv and buy them all back
[20:16:06] ale: bata boom bata bang
[20:16:07] TRC: but don’t forget, iraqi dinar re-evaulation is also supposed to be to get real value
[20:16:27] ale: sounds good to me
[20:16:44] TRC: UN and IMF experts are to guide Iraq back into global market
[20:16:52] AMG sent an audio message: Drumroll
[20:16:54] ale: by first of year
[20:17:51] TRC: hard to pick dates, just watch it unfold
[20:18:51] design: πŸ™‚
[20:19:22] TRC: article said change needs to happen due to financial crisis
[20:19:54] design: that answered that AMG
[20:20:32] TRC: media experts picked the most likely scenario
[20:20:46] ale: love the fact that oil prices are down worldwide
[20:20:52] ale: nothing like a nudge
[20:21:10] TRC: Iraq needs an economy away from oil
[20:21:28] TRC: Iraq used to have such an economy
[20:25:31] TRC: the question would be, when
[20:25:44] AMG: :*-/
[20:26:04] TRC: would not make sense to float without re-evaluation of the dinar first
[20:26:33] AMG: agrees
[20:27:01] teledive: agreed floating Monopoloy money makes it less desirable…
[20:27:07] AMG: lol
[20:27:54] TRC: the UN and IMF are going to put the IQD back on list of currencies
[20:29:23] TRC: but we will notice change before it goes back there
[20:30:04] AMG: real value
[20:30:51] TRC: took a few years to take it off
[20:31:08] TRC: after 2003
[20:33:05] TRC: now we can also ask what happened to the 50,000 note
[20:33:56] TRC: did CBI sell or is selling enough gold they do not need to, release that note, to bring down cash block
[20:36:16] TRC: they want to increase liquidity but also bring down cash bloc
[20:36:59] TRC: that’s why bankers need to go to university to get to be a central banker
[20:37:07] TRC sent an audio message: Laugh
[20:38:13] AMG: lol
[20:39:16] AMG: not much lately on the 50k note or gold sales…………..things that make me go hmmmm
[20:40:39] AMG sent an audio message: Drumroll
[20:42:17] AMG: more and more speculation on that airplane disaster……………..Putin is probably going nuts….
[20:42:30] AMG: ….was it ISIS or not
[20:42:36] AMG sent an audio message: Oh Boy!
[20:43:29] design: becoming very interesting
[20:45:41] TRC: another russian plane went down after take off in Sudan
[20:45:54] TRC: 40 dead
[20:46:30] design: hmmm
[20:48:17] TRC: Putin has been very quiet
[20:48:25] TRC: very unusual
[20:48:39] TRC: must be waiting
[20:49:36] TRC: ISIS is failing now on the battle field
[20:49:57] TRC: will most likely see more terrorists activity
[20:50:24] TRC: outside Iraq and Syria
[20:50:40] design: wouldn’t doubt it, sorry to say
[20:51:49] TRC: iraqi forces stormed Ramadi today
[20:52:07] TRC: told citizens to leave city
[20:54:17] TRC: iraqi forces also have taken much of western Anbar in last two days
[20:54:34] TRC: raising iraqi flag on key bridge
[20:54:53] AMG: awesome
[20:55:14] design: cool
[20:55:25] TRC: they discovered mass grave near Tikrit
[20:55:39] TRC: 600+ bodies
[20:55:54] AMG: I see the al qaeda leader is calling for attacks against Russia and western interests
[20:56:28] AMG: he is still hiding in a hole somewhere
[20:56:37] AMG: wow
[20:57:03] TRC: he does not seem influential , that much, just echoing ISIS
[21:03:58] Tf: Abadi is meeting with Sunnis….