Chatroom Log Wednesday

[21:10:25] AMG: is having lunch with Abadi tomorrow…………..we’ll discuss the RV ;)
[21:10:41] TRC: Abadi knows you
[21:11:16] AMG: he will :-D
[21:11:19] AMG sent an audio message: Laugh
[21:12:26] TRC: anything on tv in USA
[21:12:35] TRC: Fox or cnn
[21:12:40] AMG: haven’t seen much on the local news……..maybe hush hush
[21:15:18] AMG: WASHINGTON (AP) — The White House says Iraq’s prime minister didn’t make any specific request for additional military help in the fight against Islamic State militants, as he met today at the White House with President Barack Obama.

Obama expressed support for that effort, but made it clear that ultimately, Baghdad must be in charge of its own destiny.

He pledged $200 million in humanitarian aid

[21:16:24] TRC: seen that post, someplace
[21:16:46] TRC: thought I would wait see what else comes out
[21:16:56] TRC: ;)
[21:17:29] AMG: not much else
[21:17:57] TRC: Abadi said earlier if USA does not supply Iraq, they will look elsewhere
[21:18:11] AMG: for sure
[21:18:24] TRC: but Abadi may have jetlag, need a day to focus
[21:18:46] TRC: just flew in late last nite
[21:41:44] ale: whens rv
[21:41:48] ale: date and rate?
[21:52:11] TRC: end of the month, could be a shot
[21:52:24] TRC: when the 50’s are void
[21:52:59] ale: was a bit discourage with parliament saying they have no plans of removing zeros any time soon
[21:55:44] TRC: they never said that, at current time
[21:55:59] TRC: meaning this week
[21:56:14] TRC: they will not tell you when
[21:56:44] ale: an economist said that the deletion of zeros and the issuance of large groups will help to raise the value of the Iraqi dinar, ruling out the implementation of the project in current time. – See more at: http://www.oneiraqidinar.com/parliament-announces-near-new-version-of-currencies/#sthash.25jrZiWd.dpuf
[21:57:11] ale: agreed tho, they wont pretell us
[21:57:13] TRC: CBI wont tell you, they may say not this week, then do it next day
[21:57:39] TRC: nature of the investment
[21:58:23] ale: yup
[21:59:10] When is RV?
[21:59:10] Do we have date and rate
[22:02:44] TRC: they are trying to bring down cash bloc now
[22:03:16] TRC: all payments now by government banks will now be thru smart card, no more cash
[22:03:54] TRC: cbi has ordered banks to start bringing in damaged currency to be destroyed
[22:05:20] TRC: talking of printing 50,000 banknotes, to bring down the number of banknotes in circulation, and easier storage
[22:05:53] TRC: this is all preparations to delete the zeros

Chatroom Log Wednesday

[20:54:22] TRC: yesterday was busy day, lots of posts
[20:54:49] TRC: looks like they are planning the change of the currency
[20:54:55] design: was good post yesterday, parliament and governor of cbi
[20:55:06] design: cool
[20:55:12] AMG: Nike says: Just Do It
[20:55:18] AMG sent an audio message: Yell!
[20:55:32] TRC: well, we got to wait
[20:55:50] design: if we only new when…lol
[20:55:53] AMG: no more planning, discussing, meeting :-(
[20:56:06] AMG: damnit!!
[20:56:08] TRC: daily meetings is good
[20:56:10] AMG sent an audio message: Laugh
[20:56:28] TRC: before they met once every few months
[20:56:47] design: got to be right around the corner….. lol
[20:57:18] TRC: they been meeting almost every day for over a week
[20:57:18] AMG: is just glad his retirement is not hindging on the IQD/VND lol
[20:58:11] TRC: yesterday that was good post, they specifically discussed the new categories, of currency
[20:58:33] TRC: but also said there is large cash block
[20:58:38] design: yes
[20:59:02] TRC: CBI governor said we will implement when time is right to begin
[20:59:24] TRC: also discussed the money transfer companies
[20:59:49] When is RV?
[20:59:49] Do we have date and rate
[20:59:50] design: so when is the right time :P
[21:00:10] TRC: now by coincidence two or three are supposed to start trading on ISX April 28th, the last of the group, I think
[21:00:38] TRC: a bunch started trading in March
[21:01:26] TRC: like 20 new money transfer companies starting operation in March and April
[21:01:35] AMG: wow
[21:02:02] design: no kidding!
[21:02:16] TRC: why all of these companies starting up now on ISX
[21:02:26] AMG: why?
[21:04:03] design: everything sure pointing to end of april!
[21:05:10] AMG: ^.^ would really be nice
[21:06:58] TRC: project to delete the zeros and its implications and the development of financial categories facilitates the storage and study of new factors and appropriate market conditions and the effects of standards inflationary and technical ways to keep the currency from counterfeiting before proceeding with implementation.
[21:07:24] TRC: this was on iraqi parliament site
[21:07:29] TRC: typos
[21:07:34] TRC: :(
[21:07:42] TRC: am on drugs
[21:08:02] AMG: :-D
[21:09:31] design: before proceeding with implementation !!!
[21:09:33] design: cool
[21:09:42] TRC: senior Bank staff oil economy property in exchange reserve and related economic characteristics between international reserves and the exchange market and the impact of price inflation rate
[21:10:21] TRC: which affects the rate of the dinar, and the deterioration of the competitiveness of the country’s industry, agriculture and the real exchange rate and bilateral changes in it, and the pressures of demand for currency.
[21:11:51] TRC: Governor of the Central Bank justified in replying to the ladies and gentlemen questions the committee members not to carry out the project to delete the zeros because paper the size of likely benefit to export more to reduce the number of categories in advance
[21:12:31] design: meaning??
[21:14:41] TRC: reduce cash bloc
[21:14:53] design: ty
[21:15:12] TRC: but 50’s will be gone end of month
[21:15:30] TRC: not sure what they have up their sleeves
[21:15:34] design: yes
[21:16:26] design: something completely different maybe
[21:17:19] TRC: as is expected dealing with a central bank and talk of deleting the zeros, without a lop,
[21:17:43] design: yes
[21:17:52] TRC: a lop would be scheduled down to the exact time,
[21:18:11] design: ok
[21:18:11] TRC: would be announced, and all notes changed
[21:18:39] AMG: yup
[21:19:31] TRC: would happen at beginning of fiscal year
[21:22:22] AMG: meetings and more meetings
[21:22:33] AMG: could be a good thing
[21:22:56] AMG: the 50s on their way out
[21:23:21] AMG: the rv on the way in
[21:23:28] AMG sent an audio message: Drumroll
[21:24:30] TRC: seemed like very important meeting between finance committee and cbi, the whole board of directors attended
[21:24:42] AMG: awesome
[21:24:50] AMG sent an audio message: Oh Boy!
[21:25:08] TRC: directors of each sector in monetary policy
[21:25:32] TRC: included the one who is in charge of delete the zeros
[21:26:40] AMG sent an audio message: Yahoo!
[21:27:06] TRC: cbi governor is just a figure head
[21:27:38] TRC: except shabibi, he helped plan the process
[21:28:46] TRC: not sure how cbi figures on making cash bloc smaller
[21:28:58] TRC: as stated yesterday
[21:32:22] design: hmm, be interesting
[21:33:33] design: other than 50’s gone
[21:36:00] TRC: we know its coming
[21:38:13] TRC: tomorrow is anniversary of overthrowing saddam
[21:38:34] TRC: some iraqis want it to be another holiday
[21:40:48] design: yes for sure… we know it is now
[21:48:49] design: kind of getting exciting… lol
[21:49:57] TRC: yes
[21:51:04] design: surely wasn’t like this a year ago…
[21:53:19] TRC: can’t recall last year
[21:53:34] design: like someone told me years ago, we’ll wake up one day it’ll be done, maybe that’s true now
[21:53:38] TRC: seems like long time ago
[21:54:59] TRC: had gut feeling last year that it was postponed
[21:55:31] TRC: after CBI and politicians saying it would be next year
[21:55:42] design: really
[21:55:56] design: were right
[21:56:03] TRC: knew it wasn’t delayed this year, last fall
[21:56:19] design: :)
[21:56:26] TRC: they make these decisions in the fall
[21:56:37] design: right again…lol
[21:56:40] TRC: was no mention by cbi of delay
[21:56:59] TRC: some politicians of course
[21:57:24] TRC: abadi wants to move ahead
[21:57:38] design: finalizing now
[21:57:54] design: yes , he sure does
[21:57:59] TRC: seems he has army and parliament believing in him
[21:58:44] design: has everyone on his side… seems like
[21:59:31] TRC: in a couple days he goes to washington
[21:59:43] design: yes
[21:59:50] When is RV?
[21:59:50] Do we have date and rate
[22:00:25] design: tell obama what is happening?
[22:01:08] TRC: abadi was in anbar province today, planning offensive with army
[22:01:33] TRC: he goes right to the front
[22:02:48] TRC: this attack will supposedly move isis out of anbar
[22:02:59] TRC: when completed
[22:03:44] TRC: then mosul….comes next
[22:04:04] design: ok
[22:08:30] TRC: in a couple days, supposed to be announce the construction of two towers in basra by UAE firm
[22:08:52] TRC: will be tallest buildings in Iraq
[22:10:19] TRC: shaped like a guitar
[22:10:33] TRC: not sure if they are sticking to design
[22:10:55] TRC: will see if I can find it
[22:12:14] TRC: called the Iraq gate
images
[22:16:13] TRC: will be showpiece on gulf
[22:17:32] TRC: height of up to 225 meters
[22:17:55] TRC: 37 meters bridge
[22:18:21] TRC: supposed to start construction this month
[22:19:11] TRC: will be the highest and longest bridge between two buildings in the world
[22:19:17] TRC sent an audio message: Drumroll
[22:19:52] TRC: ceremony is this week
[22:20:31] TRC: one side is offices , the other hotel and residences
[22:21:50] TRC: not sure if they are sticking to this design
[22:22:00] design: showpiece is right…lol
[22:22:02] TRC: will know in a few days
[22:22:37] TRC: calling the towers the harp tower
[22:23:00] TRC: not sure what 225 meters is in floors
[22:23:16] TRC: supposed to be pretty high
[22:23:53] TRC: will be able to see basra from a ways away in a boat
[22:23:56] design: looks like it
[22:26:09] TRC: the guy who designed that weird building in london, is doing this one
[22:27:17] TRC: Dubai is financing project
[22:31:00] TRC: 61 floors, with bridge at top
[22:32:03] TRC: lots of job opportunities
[22:32:16] TRC: will take two years to build
[22:34:15] design: guess so…
[22:34:42] TRC: they said it would be first of many towers in basra
[22:35:01] TRC: they have been building times square
[22:35:13] TRC: with stock exchange..
[22:35:43] TRC: basra stock exchange supposed to launch later this year

Chatroom Log Saturday

[20:58:53] When is RV?
[20:58:53] Do we have date and rate
[21:05:59] TRC: TS2 Satellite has recently launched new KA-SAT satellite services. Using the HYLAS 2 spacecraft, the company now provides high-speed data services to Iraq, Syria and Armenia
[21:06:17] TRC: just launched
[21:08:07] teledive sent an audio message: Oh Boy!
[21:08:18] teledive sent an audio message: Are you sure?
[21:08:33] teledive sent an audio message: Oh Boy!
[21:08:40] TRC: am only as good as My source
[21:08:44] teledive: lol
[21:08:44] TRC: :whistle:
[21:08:51] teledive: you da best!
[21:09:16] TRC: must have been just launched in last few days
[21:13:26] TRC: this will increase data speeds and potential for Iraqi business
[21:13:41] TRC: private banks
[21:18:02] teledive: and yet another reason to say rv ready at (light) speed…warp as it were!
[21:22:01] teledive: Iraq is now connected via satellite as well!
[21:22:36] AMG: well, next week has some interesting news to be had
[21:22:52] AMG: nice
[21:23:05] TRC: yes, iraqi banking now can move with the big boys at lightening quick data speeds
[21:23:56] teledive: as well as telephone
[21:24:00] TRC: will also get 4G launched too in Iraq
[21:24:04] teledive: :)
[21:24:05] AMG sent an audio message: Yahoo!
[21:24:40] teledive sent an audio message: Say What?!
[21:25:29] TRC: been talking about this for over a year
[21:25:35] TRC: in Iraq
[21:26:24] TRC: maybe two years
[21:26:33] AMG: wow, they are on a mission………….full speed ahead
[21:27:35] TRC: I think Iraq had to pay 500 million , to get satellite service, was launched from Russia ..if I recall correctly
[21:27:47] TRC: sometime ago
[21:28:35] TRC: now Iraq has satellite service
[21:29:17] TRC: hmm, have to see if this gets our rv , next week
[21:30:14] AMG: satellite launched back in 2012 it seems
[21:30:25] TRC: oh?
[21:30:32] teledive: 2 years to tweek it!…lol
[21:35:48] AMG: let’s see what the new week brings us ^.^
[21:35:49] TRC: well its working now, field tests have been completed
[21:37:06] TRC: :P
[21:37:11] AMG sent an audio message: Drumroll
[21:38:48] TRC: see the middle east got a little more complicated
[21:39:16] TRC: Egypt and Saudis may send ground troops to Yemen
[21:39:59] TRC: Egypt sent warships and Saudi troops are massing on Yemen’s border
[21:40:22] TRC: the sunni president of Yemen is in Egypt now
[21:40:51] TRC: shiite rebels have taken the capital
[21:41:30] AMG: Sunni vs Shiite…………………………..will it ever end
[21:41:32] TRC: Iran is supplying weapons to them
[21:41:36] AMG: :-(
[21:41:54] TRC: wonder if any iranian warships are in vicinity
[21:42:11] AMG: and US is on :-(both sides
[21:42:17] TRC: Egypt is strongest sunni country
[21:42:50] TRC: Egypt’s warship confronts Iran in Arabian sea
[21:42:56] TRC: ?
[21:43:08] TRC: do they fire upon each other
[21:43:33] AMG: :whistle:
[21:44:11] TRC: the GCC voted 100% support of Egypt and Saudi actions
[21:44:28] TRC: Yemen a member of gcc
[21:44:39] TRC: not sure if they were
[21:44:53] TRC: knows Oman is
[21:45:28] TRC: will this cause greater conflict between GCC and Iran
[21:45:55] AMG: hmm
[21:46:24] TRC: will this cause oil to go back up
[21:46:46] TRC: a few thoughts as the week progresses
[21:47:37] AMG: never a dull moment in the ME
[21:48:23] TRC: Iran has been relatively quiet
[21:48:38] TRC: but for good reason, they have been busy
[21:48:51] AMG sent an audio message: Laugh
[21:48:53] TRC: nuclear talks
[21:48:58] AMG: yes
[21:49:19] TRC: they can’t be launching military or verbal attacks
[21:49:30] AMG: mmuch to Israel’s displeasure
[21:49:36] TRC: would not help lift sanctions
[21:50:17] TRC: Iran does anything, little chance of sanctions getting lifted
[21:50:55] TRC: the people want back in the global market
[21:50:56] AMG: check
[21:51:25] TRC: leadership want more clout on global scene, tough spot
[21:53:12] TRC: according to GCC law, they can come to defence of one member
[21:53:48] TRC: I think Yemen is not full member, but partial member
[21:54:46] TRC: main membership is Oman, Bahrain, Kuwait, Saudi Arabia, UAE and Qatar
[21:55:23] TRC: Jordan, Egypt and Yemen are not full members
[21:55:42] TRC: but they all signed defence agreement
[21:56:55] TRC: 6 countries in heart of GCC
[21:57:08] TRC: economically
[21:57:08] AMG: ahh a
[21:57:34] TRC: but the others are included in defence agreement
[21:58:28] TRC: Iraq would like to join, too.. but could be difficult, since shiites politically are dominant
[21:58:53] When is RV?
[21:58:53] Do we have date and rate
[21:58:59] TRC: GCC for most part are sunni led nations
[22:01:45] TRC: if Abadi remains Prime Minister for next two terms , Iraq could join GCC
[22:02:21] TRC: he has done remarkable work in bringing back good relations with the saudis
[22:02:49] AMG: he has
[22:05:05] TRC: he went to Tikrit, was loved by the troops,
[22:05:34] TRC: still some isolated pockets of resistence,
[22:05:42] TRC: but he still went
[22:13:48] TRC: I noticed Saudis have been very quiet on the so called debt, Iraq supposedly owes them , since Abadi has taken office
[22:14:28] TRC: kept telling maliki , they owed 15 billion
[22:14:35] TRC sent an audio message: Laugh
[22:15:04] TRC: it is not part of paris club ,
[22:22:14] AMG: show me the money

Chatroom Log

[21:53:06] AMG: saw that article about – United Arab money transfer company – on the ISX soon, free for 3 sessions hmmmm
[21:54:13] AMG: would like to get in on that ;)
[21:54:22] TRC: many companies offer free shares when they first start up
[22:07:39] TRC: companies give out free shares in order to help advertise new business
[22:07:48] TRC: before it begins
[22:09:18] TRC: you sign up as affiliate, and you then try to get others to sign up, or post link on facebook, kind of free advertising if you like
[22:09:46] TRC: you receive one or more more shares for every new sign up
[22:14:35] TRC: actually was some interesting news out on weekend
[22:15:30] AMG sent an audio message: Drumroll
[22:15:41] TRC: gold trading has been changed on Friday, for first time since 1919
[22:16:02] TRC: opened up market to more traders
[22:16:25] TRC: was set at 4 traders for almost 100 years
[22:16:36] AMG: how so?
[22:17:32] TRC: Since 1919, the gold price has been determined through trading sessions per day to representatives of the four largest banks in the world (ScotiaMocatta, HSBC, Societe Generale, Barclays Capital) are members of the London market Precious Metals Association.
[22:18:18] TRC: not sure how they expanded it, or who is now participating
[22:18:27] AMG: oh, I see that post
[22:18:30] TRC: maybe know Monday
[22:19:04] TRC: remember IMF said they are resetting how currencies are valued
[22:19:18] TRC: resetting gold market too
[22:19:35] AMG sent an audio message: Oh Boy!
[22:19:48] TRC: lots of changes going on
[22:20:15] AMG: that can be a good thing – for us
[22:20:46] TRC: did you notice change at ISX
[22:21:41] AMG: yes, was not sure what to think until today
[22:21:47] AMG sent an audio message: Drumroll
[22:22:07] TRC: ISX37 ended
[22:22:17] TRC: ISX60 began
[22:36:55] AMG: Rafidain Bank launches SMS service for disbursement of pensions – nice, things are moving forward ^.^
[22:38:20] AMG: nice to see
[22:48:40] TRC: global reset
[22:48:43] TRC: lol
[22:48:50] TRC: gurus were right
[22:48:57] TRC: but very slow
[22:48:58] AMG: lol
[22:49:08] TRC: not overnite
[22:49:43] AMG: maybe this year
[22:49:53] TRC: maybe this year?
[22:49:58] AMG sent an audio message: Yell!
[22:50:41] Suharto: TRC, I heard isx rise 1000%, is that true?
[22:51:52] AMG: a guy at work was wondering about a window of opportunity……………….I told him…
[22:52:36] AMG: I don’t think like that anymore……….too frustrating
[22:53:02] AMG sent an audio message: Drumroll
[22:53:04] AMG: it happens when it happens
[22:54:54] TRC: ISX changed its index Suharto
[22:55:04] AMG: end of 2014 was my last WOO ;)
[22:55:58] Suharto: ouw
[22:56:31] TRC: volume increased big time
[22:56:49] Suharto: I seen iraqi dinar doesn’t move, it like freezing
[22:57:09] TRC: its been frozen since 2009
[22:57:51] AMG: been trying to thaw it ever since
[22:58:22] TRC: CBI changed rate 4 dinars a few years ago
[22:58:29] TRC: :-o
[22:58:47] TRC: might see few more dinars knocked off soon
[22:58:53] TRC sent an audio message: Laugh
[22:58:59] AMG sent an audio message: Bogus
[22:59:30] TRC: was in March they changed it, but March only has couple weeks left
[22:59:54] When is RV?
[22:59:54] Do we have date and rate
[23:00:10] Suharto: last chat you said, they ready for Forex, why not move like dollars?
[23:00:33] TRC: have to see what happens,
[23:00:47] TRC: Forex just started this week
[23:01:12] TRC: according to one post last week, it said they were testing
[23:02:57] Suharto: still testing, must be patient again :(
[23:03:08] TRC: lots of changes going on, more than we have seen in last ten years , stay tuned
[23:05:37] TRC: CBI already said they are changing the currency starting this year
[23:13:47] Suharto: Ministry of Finance said changing the currency must do earlier in year
[23:14:28] Suharto: it like CBI still confuse to do that under governor Allaq
[23:15:20] TRC: when did Ministry of Finance say that
[23:15:42] Suharto: one year ago before Maliki was removed
[23:17:07] TRC: well, dont know what he was talking about
[23:17:26] TRC: who was Minister of Finance, they had a few
[23:18:13] Suharto: I am forget who is the minister, but he comes from sunni
[23:19:24] TRC: maybe he not know what he was talking about
[23:19:46] Suharto: I dont know trc, it confusing now
[23:23:33] TRC: IMF announced a week or so ago
[23:23:41] Suharto: I hope so more faster trc, because I need money now :)
[23:23:59] TRC: they were changing the way currencies are based
[23:24:29] Suharto: is true about gold standard announcement from IMF?
[23:24:30] TRC: instead of fiat based, will be asset based
[23:25:11] Suharto: I still don’t trust it hehehe
[23:25:36] TRC: it is investment, got to wait like everybody else
[23:26:04] Suharto: hmmm
[23:26:30] TRC: CBI said they agreed to change the currency
[23:26:51] TRC: nothing we can do,
[23:26:58] TRC: but wait
[23:29:46] mike: Doing Good Suharto. Why do we have to wait ? HaHa
[23:30:11] TRC: because we don’t know when CBI will do something
[23:30:48] mike: Ok Sounds good to me.
[23:31:07] TRC: last time they changed the exchange rate it was in March, but ..we really don’t know their time frame
[23:34:25] Suharto: TRC, I don’t see they changed the exchange rate it looks same
[23:34:47] TRC: they changed rate from 1170 to 1166
[23:35:26] TRC: this year March looks fantastic, but..we will see
[23:35:39] Suharto: only 4 dinars increased
[23:37:23] TRC: yes
[23:37:39] TRC: a few years ago
[23:38:32] Suharto: do you think we can rv this month? :)
[23:39:07] TRC: yes
[23:40:29] Suharto: I hope this month too
[23:42:00] mike: liked the Parliamentary Committee on Economy and investment demands on CBI post.
[23:43:12] TRC: yeah
[23:43:33] TRC: but CBI has its own agenda, they have plan
[23:44:19] TRC: they are in charge of monetary policy, decided they will change currency
[23:44:29] TRC: we got to wait
[23:45:31] TRC: things are happening
[23:45:47] mike: Yep, but Parliament can strong arm them if thing continue to deteriorate.
[23:46:17] TRC: CBI agreed to change the currency, government supports it
[23:47:18] TRC: nothing we can do, but wait
[23:48:26] TRC: :)
[23:49:25] TRC: we are much better off than last few years, we speculated if they are going to do it
[23:49:42] TRC: now they say they are doing it
[00:08:45] TRC: a few guys are thinking Iran’s currency
[00:08:56] TRC: after sanctions lifted
[00:09:37] TRC: but Iran is long shot right now
[00:16:57] TRC: seen a tweet
[00:17:03] TRC: PM Abadi will unveil an important private sector investment program on Wednesday at 9am in Rasheed hotel

Chatroom Log Thursday

[20:16:03] AMG: what’s new(s)??
[20:16:07] AMG sent an audio message: Drumroll
[20:16:15] TRC: lots of meetings
[20:16:26] TRC: banking, tariffs etc
[20:16:36] AMG: but no rv :-(
[20:16:41] AMG sent an audio message: Laugh
[20:18:33] TRC: tariffs are fixed at all border crossings
[20:18:48] TRC: lots of meetings on tariffs
[20:19:22] TRC: IMF expected increase in inflation due to import tax
[20:19:39] AMG: yeah a little
[20:19:58] TRC: but increase in revenue by government up to 400%
[20:20:37] TRC: price of oil is below the budget rate of 56 dollars
[20:21:10] AMG: also saw post about Mandali border crossing with Iran
[20:21:32] TRC: the sale of bonds on global market in two weeks or abouts is expected to bring in a few billion dollars to treasury
[20:21:57] AMG: some say it may go lower
[20:22:58] AMG: equality
[20:23:28] TRC: goes by value up to 10,000 dollars
[20:23:59] AMG: oh
[20:24:39] TRC: up to (10) thousand, on (8) thousands deduct tax of 15 percent, 5 thousand to 5 percent or less
[20:25:21] TRC: also on what is being imported
[20:25:33] TRC: somethings are very high
[20:25:51] AMG: oh yeah tobacco etc
[20:25:51] TRC: but the fixed rate is above on general imports
[20:26:32] TRC: doing this, they have accomplished another item in criteria in joining WTO
[20:26:39] TRC sent an audio message: Drumroll
[20:26:58] TRC: took three years to accomplish
[20:26:59] AMG sent an audio message: Yahoo!
[20:27:17] TRC: started trying to impose tariffs in 2012
[20:27:53] TRC: its done finally
[20:28:19] AMG: good stuff
[20:30:14] AMG: April 15th is a big day for us
[20:30:20] TRC: they have began to restrict to the iraqi currency , in force at CBI, from leaving the country
[20:30:44] TRC: too much is leaving the country
[20:30:46] AMG: oh my
[20:31:01] AMG: gotta nip that in the bud
[20:31:02] TRC: they say is being smuggled out
[20:31:18] TRC: heavy fines will be implemented
[20:31:30] TRC: maybe even jail time
[20:31:43] AMG: good for them
[20:32:00] TRC: seems there is a thirst for IQD outside Iraq
[20:32:04] TRC: why?
[20:32:24] AMG: hmm, speculation
[20:33:11] TRC: remember a year or two ago, numbers estimated at 7 trillion IQD outside Iraq
[20:33:28] TRC: probably 8 trillion now or more?
[20:33:52] AMG: last minute investors??
[20:36:03] TRC: Ibrahim Salman Mayali governor of Muthanna to a reporter for the Iraqi News / Nina / National Agency that “the oil companies operating exploratory patches displaying in Samawah, discovered large quantities of natural gas in various areas Samawah,” pointing out that “it gives reason for hope and optimism for the future of economic prosperity.”
[20:36:42] TRC: Iraq most likely has alot more gas than any numbers have shown
[20:37:01] AMG: yup
[20:37:46] TRC: Iraq is far behind in getting this stuff, just began
[20:38:46] TRC: in future it could bring in more revenues than oil
[20:39:03] AMG: ;)
[20:39:32] TRC: especially with that pipeline being built from Armenia, Iran to germany
[20:39:51] TRC: will link up in northern Iraq
[20:40:05] AMG: long pipeline!!
[20:40:34] TRC: yes, thru Turkey
[20:41:12] TRC: will give Europe an alternative to Russia
[20:41:34] TRC: most importantly Germany
[20:41:35] AMG: ^.^
[21:03:08] TRC: Finance Minister met with Citibank and Deutschbank reps Thursday
[21:03:21] TRC: about global bonds
[21:03:41] TRC: to be released in two weeks
[21:04:02] AMG sent an audio message: Oh Boy!
[21:04:11] TRC: original amount to sold is 5 billion
[21:05:33] AMG: what term length are they 5, 10 years??
[21:07:42] TRC: yes 5/10 years
[21:07:54] AMG: oh, ok
[21:08:38] TRC: still awaiting the CBI bonds to support monetary policy talked about last year
[21:09:02] TRC: nothing official on that
[21:09:29] TRC: will be IQD based
[21:34:54] TRC: The Association commends the central bank actions but ensure that clear implementation mechanisms to be applied properly, ensure smooth implementation and achieve high economic viability of the country.

Representative of the general body of taxes stressed the importance of applying this system and address all gaps, indicating that the country is moving in the regulatory process
[21:35:51] TRC: we are proceeding with the Central Bank and the Association of private banks and those with ties to the success of this approach.

The Director of the public corporation Major General Hakim Jassim said the executive circle and application instructions is the first step on the regulation, pointing out that the customs fees fixed in all the ports, we are going to be consolidated with the Kurdistan
[21:36:35] TRC: referring to the approaching global company to introduce a new electronic system.
[21:39:07] TRC: The Central Bank to prepare strict controls to protect the local currency and the Iraqi economy from collapse and activation mechanisms that undermine money laundering and damage the Iraqi economy operations.

He pointed out that condone any act that affects the Iraqi economy have devastating results and in the interest of expansion in restrictions.
[21:41:37] TRC: Noted that the inflation rate outside areas that are not controlled by terrorists less than 2% by the end of 2014, but the rate may rise after the activation of the tariff law, which imposes a high import duties.
[21:48:19] design: so whats this all mean?
[21:49:16] design sent an audio message: Drumroll
[21:49:32] TRC: what part
[21:49:34] TRC: lol
[21:50:56] TRC: Iraq finally got customs officials collecting duties in efficient manner at borders, restrictions are increasing on iraqi dinars leaving the country
[21:51:11] design: tariff’s, fee’s etc
[21:51:21] TRC: IMF expects inflation to increase due to this,
[21:51:36] TRC: a rv would fix that
[21:51:51] design: ok….i see
[21:52:01] design: i guess it would…..
[21:52:19] TRC: CBI is trying to keep IQD from leaving Iraq
[21:52:50] TRC: was told that cannot get any more out of country
[21:53:04] design: ok
[21:54:09] TRC: “The Finance Minister Hoshyar Zebari received on March 19, 2015, Dennis Flannery representative [Citibank] in Iraq in the presence of a representative [Deutsche Bank] Hussein Qaraghuli, through meeting, they reviewed a number of measures to address the current liquidity crisis in the country, the advancement of the Iraqi regime in light of the economic developments
[21:54:24] TRC sent an audio message: Drumroll
[21:54:44] design sent an audio message: Drumroll
[21:54:49] design: :)
[21:56:36] TRC: lots happening
[21:56:44] TRC: we can only watch
[21:57:01] design: you got that right
[21:57:33] design: a lot happening to watch…
[22:00:36] TRC: just talked to a contact tried to buy reserve of IQD
[22:01:08] TRC: but cannot get it
[22:01:29] TRC: CBI has set strict controls on exit of IQD currency
[22:03:18] design: really!!
[22:03:44] TRC: thats what was said
[22:03:56] design: wow
[22:04:05] TRC: usually comes out to Jordan then to the dealers
[22:04:16] design: oh… ok
[22:05:11] design: what u have is what u get!
[22:08:11] design: maybe something bout to happen…….
[22:10:45] design: never know….lol
[22:16:20] TRC: might see another price increase
[22:25:39] design: hmmm….. ok
[22:31:11] design: we’ll see

Chatroom Log Tuesday

[20:20:21] TRC: CBI is still not allowing the IQD to float freely on open markets
[20:20:34] TRC: must be still testing
[20:24:17] AMG: not much happening on the Iraq/IQD front (at least not overtly)
[20:25:10] AMG sent an audio message: Laugh
[20:25:41] teledive: perhaps after tomorrow’s meeting…:)
[20:26:20] design: hope so teledive….
[20:26:36] TRC: well looked like rate was increasing
[20:26:45] AMG: what’s funny is the gurus hoopla abut Iraqi SWIFT codes………really???
[20:26:58] TRC: then it dropped back to 1165.. like CBI intervened
[20:27:26] teledive: to what rate trc?
[20:27:46] TRC: swift codes were assigned to all iraqi banks a few years ago
[20:28:13] AMG: :-D THEY SURE WERE
[20:28:16] TRC: what they can do with them is up to CBI
[20:28:41] TRC: was 1132
[20:28:53] AMG: how I got my Warka account xfers
[20:28:59] teledive sent an audio message: Say What?!
[20:29:04] AMG sent an audio message: No Way Dude!
[20:29:10] teledive sent an audio message: Oh Boy!
[20:29:19] teledive sent an audio message: Are you sure?
[20:29:23] teledive: :)
[20:29:57] TRC: looked like rate was increasing, see before when rate was around 1100, looked like rate was climbing, then when forex markets closed on Fridays, it would automatically revert back to 1165
[20:30:25] teledive: the rise before the storm…:)
[20:30:26] AMG sent an audio message: Drumroll
[20:30:36] teledive: or lower as it were…..
[20:30:39] TRC: it shows CBI is not allowing it to move
[20:30:59] teledive: at least not until the meeting tomorrow
[20:32:11] TRC: now if rate on open/forex markets is allowed to move 50+/- dinars , and stays outside that level for 3 consecutive days, CBI is supposed to adjust rate accordingly
[20:33:28] TRC: but been watching it for weeks now since new year, when it is close to 3 days outside the above levels, I have noticed it switches back to 1165 before that can happen
[20:33:48] TRC: before 3 days pass
[20:33:52] AMG sent an audio message: Bogus
[20:33:58] AMG: :-(
[20:34:25] TRC: so CBI is not allowing free movement, this could be good news..
[20:34:29] teledive: here’s to it happening right after the meeting tomorrow then….Monday bam change
[20:34:43] teledive: …cause change will really do you good!
[20:34:47] TRC: they may want it to float at much higher rate after a rv
[20:35:30] AMG: ^.^
[20:36:10] teledive: works for me!!!
[20:39:41] design: :)
[20:48:59] TRC: its interesting with new global bank getting started , rivaling Worldbank
[20:49:19] TRC: all big players are backing it
[20:49:29] TRC: except USA and Japan
[20:49:48] TRC: AIIB begins in April
[20:49:57] AMG: yes, they are………………………….
[20:50:29] TRC: Germany just signed on today to be original member of this bank
[20:50:44] TRC: signing ceremony in Berlin
[20:50:54] AMG: China and IMF are being used a lot lately………………..worth monitoring
[20:51:02] TRC: 50 billion cash to start
[20:51:34] AMG: interesting times we live in
[20:51:37] AMG sent an audio message: Drumroll
[20:51:59] TRC: Germany and China seem to be on good terms in many ways
[20:52:58] AMG: yup, giving more validity to China for a possible impact within the IMF
[20:52:59] TRC: German foreign minister said this week they want larger economic agreement
[20:53:13] TRC: with china
[20:54:05] TRC: wonders how this affects Iraq, I know USA would not allow or be very angry if Iraq got involved with this new bank
[20:54:36] AMG: yes
[20:54:44] TRC: what if this bank offered Iraq something juicy
[20:55:11] TRC: they are already involved with Worldbank very deeply
[20:55:12] AMG: hmm
[20:55:27] TRC: could they work both sides
[20:55:29] TRC: lol
[20:55:42] AMG sent an audio message: Oh ohh!
[20:56:22] TRC: Chinese seem more interested in a deeper relationship with Germany than Russia
[20:57:06] AMG: interesting to say the least
[20:57:36] TRC: Germany trying to start its own hemisphere so to speak in Europe
[20:58:13] TRC: Russia expanded its war games
[20:58:34] TRC: was at first in arctic, now includes crimea
[20:59:12] TRC: putin said it was going to base nuclear bombers in crimea
[20:59:13] When is RV?
[20:59:13] Do we have date and rate
[20:59:16] AMG: ya gotta watch those Ruskies
[21:01:28] TRC: now USA is in kind of a quandry, if it does not vote in congress on allowing more countries to be part of Worldbank/IMF currency basket, it may be ousted all together in this new Worldbank, AIIB
[21:01:40] TRC sent an audio message: Drumroll
[21:02:04] TRC: Worldbank may become void
[21:02:49] TRC: Japan has its own development bank for Asia, which is quite large in itself
[21:03:02] AMG: yup, been watching this topic very closely….& will continue
[21:03:43] TRC: USA, may end up broke and much smaller voice economically
[21:04:15] TRC: it could rely on its military
[21:04:24] AMG: that’s what i’m talkin about
[21:04:35] AMG: and concerns me
[21:05:11] AMG: that the US would be so stubborn and shoot itself in the foot
[21:06:49] TRC: could be we have the USA and Russia both bankrupt with huge military arsenals
[21:07:05] AMG: gasp lol
[21:07:29] TRC: oh well nothing to lose lets to do it
[21:07:34] TRC: :-(
[21:08:23] TRC: obama told europe not join this new bank they ignored him
[21:08:54] AMG: no surprise there
[21:08:59] AMG sent an audio message: Laugh
[21:09:23] TRC: now that Germans signed today, Australia and S.korea announced they may join
[21:09:55] TRC: Canada so far is twittling their thumbs
[21:10:03] AMG: will be interested in what S.Korea does
[21:11:00] TRC: the currency basket for AIIB will be very diverse
[21:11:26] TRC: maybe without the USD
[21:12:05] TRC: it now has the euro,pound..
[21:12:19] AMG: hopefully our congress/admin will take this seriously
[21:13:07] TRC: yen may be out for now.. Japan does not think highly of any chinese bank involvement
[21:14:01] TRC: but Japan could do well on its own for time being, it has 5 trillion dollar economy no slouch
[21:14:29] AMG: yup, the Chinese/Japanaese/Koreans still have some bad blood between them
[21:14:38] TRC: Japan is major investor in many countries
[21:14:56] TRC: Vietnam’s number 1 investor
[21:15:11] TRC: and Indonesia
[21:16:43] TRC: south asian nations dont trust China
[21:17:25] TRC: seems you either are friends with Japan or you are friends with China
[21:21:15] AMG sent an audio message: Drumroll
[21:28:05] TRC: 3 months to go, for Iraq to meet criteria
[21:28:15] TRC: to join WTO
[21:35:31] AMG sent an audio message: Drumroll
[21:36:01] TRC: time seems to be going faster
[21:37:20] TRC: or am getting old
[21:37:25] TRC: :whistle:
[21:37:47] AMG: lol
[21:39:24] TRC: would be major disappointment to Abadi, if they failed to meet their criteria for full membership
[21:40:33] AMG: oh yeah…………….i’m sure he will get there
[21:53:54] AMG: On a totally different page…………………..Miscrosft is scrapping it’s Internet Explorer browser
[21:54:10] AMG sent an audio message: Yahoo!
[21:54:23] TRC: oh
[21:55:22] AMG: was announced yesterday
[21:56:15] AMG: here’s the link. if interested - http://www.msn.com/en-us/money/technologyinvesting/microsoft-is-scrapping-internet-explorer/ar-AA9ThZo?ocid=ansQuartz11
[21:57:25] AMG: ;)
[21:58:01] AMG sent an audio message: Drumroll
[21:58:27] TRC: never uses internet explorer
[21:59:14] When is RV?
[21:59:14] Do we have date and rate
[22:00:05] AMG: oh, I usually use google chrome on laptop and Firefox on my desktop pc
[22:00:07] TRC: am googled
[22:13:24] TRC: just posted
[22:13:57] TRC: Abadi’s advisor is advising ministry of finance to issue bonds denominated in dollars
[22:14:36] TRC: would encourage iraqi’s to buy the bond
[22:14:53] TRC: would also help bring down budget deficit
[22:15:02] design: :)
[22:15:14] TRC: would also bring in the IQD banknotes
[22:15:32] TRC: the bonds are scheduled to be on market end of March
[22:16:22] TRC: from 6 to 12 billion dollars worth have been mentioned
[22:16:45] TRC: alot of mullah
[22:17:01] design: yes
[22:23:41] TRC: remember a year ago was talk about an IQD bond released to support monetary policy
[22:24:09] TRC: totally seperate from issues related to federal budget
[22:24:23] TRC: so far nothing on that
[22:27:43] design: ok

Chatroom Log Sunday

[20:01:57] Stormy: Hello. What is new in the world?
[20:03:41] TRC: looks like CBI launched new mechanism, with private banks
[20:03:56] design sent an audio message: Drumroll
[20:04:54] Stormy: What is the deal with Putin?
[20:06:51] TRC: don’t know
[20:07:32] TRC: he has disappeared, it seems
[20:08:11] Stormy: posted article about military coup?
[20:08:58] TRC: banks authorized to exercise all banking – financial companies approved the conversion of all ( sale and purchase of foreign currency Regulation (26/3/9) for the year 2015 ) The adoption of the model
03/15/2015
[20:09:15] TRC: CBI website
[20:10:25] Stormy: This means individual banks can buy and sell currency??
[20:11:11] TRC: ones that are qualified
[20:12:04] Stormy: Good.
[20:20:51] TRC: one report earlier last week said putin was dead
[20:21:13] Stormy: maybe???
[20:43:18] teledive: should be an interesting week!
[20:43:55] TRC: no changes in rates or updates
[20:44:02] TRC: yet
[20:44:08] design: i hope so!!
[20:44:10] teledive: soon”
[20:44:35] TRC: but forex only been open a few hours
[20:46:57] teledive: tick tock…:)
[20:50:55] design: :)
[20:51:04] teledive: :)
[21:13:58] AMG: no news is good news…………….they say
[21:14:26] TRC: CBI announced they launched new mechanism today
[21:14:43] TRC: on cbi website
[21:15:26] AMG: hmm, i missed it somehow
[21:15:46] AMG: unless it only in arabic
[21:17:18] AMG sent an audio message: Drumroll
[21:17:24] TRC: always only in arabic
[21:17:32] AMG: :-(
[21:17:59] TRC: english side died a couple years ago
[21:18:09] AMG: ok
[21:25:25] TRC: not much to speculate on any more
[21:25:54] design: guess not ..lol
[21:25:54] TRC: delete the zeros has been launched, custom tariffs has been launched
[21:26:10] TRC: just waiting
[21:26:25] design: and thats it!
[21:26:48] TRC: chapter 7 is lifted
[21:26:57] TRC: maliki is gone
[21:27:54] design: now its anybodys guess when we see it
[21:29:39] TRC: all options open, it truly is up to cbi
[21:30:08] design: yes :)
[21:30:55] teledive: the guru’s will love to be correct finally..lol
[21:32:49] design: yes…. lol
[21:32:57] design: finally

Chatroom Log Tuesday

[20:06:01] TRC: you think global reset
[20:07:04] AMG: hmm…………….never bought-in to that concept…but, what do I know
[20:07:08] AMG sent an audio message: Laugh
[20:07:34] TRC: the news right now sure fits with that scenario
[20:08:08] TRC: just a coincidence?
[20:09:51] TRC: CBI is launching 12 billion dollars worth of trasury bonds end of March
[20:13:23] AMG: wonder how that’s gonna work out
[20:13:41] TRC: that’s alot of mullah
[20:13:59] TRC: first time I seen that
[20:14:01] AMG: for sure
[20:14:09] TRC: we will see
[20:15:28] AMG: would like to see an RV
[20:39:38] TRC: just posted A lengthy article on ISX
[20:39:59] TRC: reasons for its drop the last few days
[20:40:39] TRC: Iraq’s private banks are slow in adopting global standards with banking
[20:40:41] AMG: coincidence? US stock market also took big hits
[20:41:20] TRC: CBI is being patient with them, but director of ISX is not happy with CBI’s patience
[20:41:45] AMG: too patient IMO
[20:41:50] TRC: seems Iraq’s traders are not happy either
[20:42:03] TRC: not buying , selling
[20:42:55] TRC: yes DOW was down too big time
[20:43:23] TRC: first time I can recall, DOW Jones and ISX down big time on same day
[20:43:59] TRC: is it connected to the currency mechanism changes happening at IMF
[20:44:19] TRC: announced Monday evening
[20:46:32] TRC: peshmerga are moving their forces north of Tikrit
[20:47:08] TRC: hmm looks like meeting up with Iraqi government forces
[20:55:11] AMG: yup, Peshmerga north, ISF south and ISIS in the middle ^.^
[20:59:44] TRC: ISIS has told all residents of Mosul to leave
[21:00:09] TRC: their property will be seized
[21:00:29] TRC: Mosul has 1 million people
[21:00:38] TRC: ouch
[21:01:15] TRC: this is going to cause huge immigration problem
[21:09:33] AMG sent an audio message: Oh ohh!
[21:38:31] TRC: from so called source that Iraq’s cabinet halted the custom tariffs at border crossings due to IQD losing value
[21:38:45] TRC: not sure if its true
[21:38:52] TRC: could be bogus
[21:49:11] TRC: seen cabinet decisions earlier never said this
[21:49:33] TRC: unless it was evening decision last minute
[21:49:35] design: hmmm
[21:50:33] TRC: now .. was talked about years ago about the tariffs, that raising IQD value would eliminate any cost increases
[22:08:01] design: :)
[22:11:00] TRC: if they don’t raise the dinar now, something is wrong
[22:11:16] TRC: now means within the next few days

Chatroom Log Wednesday

[21:07:55] TRC: well it looks like we have confirmation custom tariffs are in effect
[21:08:20] TRC: the post on Turkish poultry, says it all
[21:08:20] AMG sent an audio message: Say What?!
[21:08:39] TRC: large tariffs on turkish chicken
[21:08:52] TRC: as opposed to turkish turkey
[21:08:53] AMG: pretty steep tariff
[21:09:30] TRC: yes tariff just started, they complaining already
[21:09:37] AMG: what a ripoff………..unless there’s something i’m missing
[21:10:14] TRC: trying to use iraqi chicken, and encourage iraqi farmers
[21:10:32] AMG: maybe Iraq wants their own chicks
[21:10:44] AMG: :whistle:
[21:10:56] TRC: read news long time ago, said Iraq is self sufficient in poultry but cant compete with imports
[21:11:47] TRC: should see more on imports that are too expensive .. now
[21:11:55] TRC: :)
[21:20:42] TRC: Iraq is building tanks now
[21:20:46] TRC: in Basra
[21:20:59] TRC: called lion of babylon
[21:21:15] AMG: oh
[21:21:21] TRC: they are building one every two days and sent to fight ISIS
[21:21:53] AMG: would like to see what they look like\
[21:22:00] TRC: modeled on T72
[21:22:08] TRC: russian tank
[21:22:44] AMG: just googled it
[21:23:12] TRC: they want to increase production, getting funding from religious authority, no connection with Abadi government
[21:23:27] TRC: private enterprise
[21:23:30] TRC: lol
[21:25:34] AMG: hmm
[21:26:12] TRC: I guess Iraq used to have a factory building a similar tank prior to 1989
[21:26:47] TRC: Iraq used to pretty much produce everything prior to gulf war
[21:27:08] TRC: trucks, guns, bombs
[21:27:15] TRC: cars
[21:27:58] TRC: Iraq was industrial country, in middle east before all the wars
[21:28:33] TRC: and agricultural country too
[21:29:15] TRC: oil exporter to top it off, had it all
[21:30:58] AMG: maybe they will return to those productive ways
[21:31:15] AMG: they are rich
[21:31:18] TRC: they were the envy of the region
[21:32:11] AMG: and may be it again
[21:33:22] TRC: when Saddam came to power he was most powerful leader in region
[21:38:21] TRC: Iraqi bonds on market with Citibank and Deustchbank
[21:38:25] TRC sent an audio message: Drumroll
[21:38:53] AMG: very nice prospect
[21:39:00] TRC: in discussion
[21:39:09] TRC: not on market yet
[21:40:28] TRC: “the Bank shall move the basket almost daily to stand on currencies, interest rates, the bond market, stock prices and the value of gold.”
[21:40:45] TRC: :)
[21:41:01] TRC: Iraqi dinar currency basket is changing
[21:41:04] TRC sent an audio message: Drumroll
[21:41:05] AMG: basket of currencies
[21:41:12] AMG sent an audio message: Oh Boy!
[21:41:28] TRC: no more peg to USD
[21:41:55] AMG sent an audio message: Drumroll
[21:42:04] TRC: will be set against stock, gold and other currency
[21:42:38] AMG: IMO…a better overall setup…….for them
[21:43:12] AMG: diversification
[21:43:50] TRC: Finance Minister Hoshyar Zebari met evening 04.03.2015, Judge Ahmed representative of Ernst Young (EY) and a number of experts
[21:44:24] TRC: discussed How to improve the banking system in Iraq, according to international standards, ways to settle the Iraqi debt in light of the measures are followed in the Paris Club, as well as increase the efficiency of the banking system in Iraq connect with major international financial institutions.
[21:48:20] TRC: the UAE currency is pegged to the dollar
[21:51:54] AMG: gimme a date……………………..
[21:53:52] TRC: iraqi date?
[21:54:29] AMG: rv lol
[21:54:49] TRC: date squares are good
[21:59:26] TRC: well Iraq rv, would it be easier to pay off debts in Paris club
[21:59:48] AMG: yes
[22:02:07] TRC: is that what Ministry of Finance was talking about with Ernst and Young
[22:02:53] AMG: maybe TRC
[22:03:05] TRC: rv Thursday
[22:03:08] TRC sent an audio message: Laugh
[22:03:14] AMG sent an audio message: Laugh
[22:03:29] TRC: guru said thursday rv
[22:04:02] AMG sent an audio message: Laugh
[22:04:23] design: oh boy, got to believe that guy…
[22:04:26] design sent an audio message: Laugh[
[22:07:04] TRC: well he just added everything up
[22:07:13] TRC: came out as rv
[22:07:42] TRC: changing basket of currencies would , come out for some as rv
[22:07:57] design: yes
[22:08:26] TRC: but we are not here to be gurus, we are to discuss news
[22:08:34] TRC: :whistle:
[22:08:40] design: :)
[22:09:46] TRC: when news points to rv, are we gurus
[22:09:51] TRC: :bow:
[22:10:15] AMG sent an audio message: Laugh
[22:10:20] TRC: or are we looking at news with rv goggles on
[22:10:46] TRC: we must think really hard
[22:10:51] TRC: :-o

Chatroom Log Tuesday

[19:30:29] teledive: hit a homerun today with the article~
[19:33:03] TRC: yes Central Bank Governor said they got green light to begin changing the currency,
[19:33:56] teledive: that is just music to my eyes…lol
[19:33:58] teledive: :)
[19:34:02] teledive sent an audio message: Oh Boy!
[19:34:08] TRC: This operation will be preceded by regulatory and administrative processes and which it will start moving
[19:34:15] TRC sent an audio message: Drumroll
[19:34:23] teledive sent an audio message: Oh Boy!
[19:34:30] TRC: sounds like rv
[19:34:36] teledive sent an audio message: Are you sure?
[19:34:47] teledive sent an audio message: Laugh
[19:34:50] TRC: but we need to wait, because will not be told the date
[19:35:34] teledive: can’t see to much time as Abadi is not the patient type…lol
[19:35:38] TRC: either they rv Wednesday, or leave us out like a wet towel for a few weeks waiting
[19:36:16] TRC: but , no delay like pevious years..
[19:36:29] teledive: few weeks beats “soon” or in the “coming days”
[19:36:37] TRC: this is going down this year
[19:37:33] teledive: agreed…and in Abadi’s terms the sooner or the better
[19:37:49] TRC: dinartrade/xchange of america said there will be no fee on exchanging the 50 dinar note
[19:37:50] teledive: leave out the or
[19:38:36] design: GREEN LIGHT
[19:38:43] design sent an audio message: Drumroll
[19:39:20] TRC: the Bank began creating currency models and training of employees to proceed
[19:39:32] teledive: :)
[19:39:35] design: no wet towel
[19:39:44] teledive sent an audio message: Oh Boy!
[19:39:55] TRC: what happened to the four years
[19:40:17] TRC: its starting now
[19:40:30] design: never thought they would announce it
[19:40:43] TRC: nor did I
[19:41:01] TRC: CBI governor wanted the spotlight?
[19:41:03] teledive: nor did anybody
[19:41:14] TRC: tons of media
[19:42:07] design: now the question… WHEN and HOW MUCH…
[19:42:25] TRC: we already have been waiting for that
[19:43:15] TRC: this news today just confirms no delays
[19:43:27] design sent an audio message: Drumroll
[19:43:56] TRC: knew there was no delay, or it would have been said late last year
[19:44:42] TRC: with WTO target date, to meet, they could not delay it again
[19:45:00] TRC: Abadi wants into WTO on time
[19:46:46] teledive: the time has come!
[19:47:43] AMG: fine……….what time is that?
[19:47:59] teledive: the green light
[19:48:12] AMG: oh
[19:48:14] AMG sent an audio message: Drumroll
[19:48:20] teledive sent an audio message: Oh Boy!
[19:48:35] teledive sent an audio message: Laugh
[19:48:40] design: no more red’s
[19:48:46] design sent an audio message: Drumroll
[19:49:02] AMG sent an audio message: Drumroll
[19:50:20] AMG: sooooo, we have a green light
[19:50:41] TRC: so was said
[19:50:48] TRC: this is the year
[19:50:55] AMG: is wondering how this will play out
[19:51:35] TRC: lol
[19:51:44] teledive: that is the .00086 question…lol
[19:51:52] AMG: will they wait until Tikrit and Mosul are under control?
[19:51:55] TRC: been interesting the last month or so
[19:51:59] teledive: what will it turn into
[19:52:18] teledive: been interesting since Abadi took office
[19:52:32] TRC: CBI is very busy
[19:52:41] AMG: ….or will they do a gradual increase in value
[19:52:57] AMG: yes it is
[19:53:11] design: good question AMG, how will it play out?
[19:53:17] TRC: governor was in the spotlight today
[19:53:33] TRC: he was smiling so must be good
[19:53:35] AMG: for sure
[19:55:26] AMG: what’s next
[19:55:32] TRC: ha
[19:55:39] TRC: ask the gurus
[19:55:53] TRC: seen a million different scenarios
[19:55:58] TRC sent an audio message: Laugh
[19:56:38] TRC: when rate increase soaks in, we will see some new lower denominations
[19:56:48] TRC: very simple
[19:57:03] TRC: when rate increase will happen?
[19:57:08] TRC: this year
[19:57:12] TRC: :whistle:
[19:57:28] teledive: but more of the burning question to most is How much…lol
[19:58:21] teledive: I’ll take the .86 and run…lol
[19:58:24] teledive: :)
[19:58:32] design: :)
[19:59:10] When is RV?
[19:59:10] Do we have date and rate
[19:59:21] design: start at .10 and watch it grow?
[19:59:29] design: who knows
[19:59:32] AMG: .10 to start
[19:59:34] TRC: no delay this year
[19:59:45] TRC: its a go
[20:00:15] AMG: ^.^
[20:00:19] AMG sent an audio message: Yahoo!
[20:01:40] TRC: they are printing at least one category by looks of it
[20:01:51] TRC: most likely the 100
[20:02:03] TRC: could be the 200
[20:02:13] AMG: ^.^^.^^.^
[20:02:30] AMG: I LIKE IT
[20:02:42] design: :)
[20:03:40] TRC: would need a rv of some sort to use those notes, would think
[20:05:37] TRC: they need a published exchange rate,
[20:06:11] TRC: to meet WTO, and WorldBank credentials
[20:06:38] TRC: WorldBank cannot issue credit rating without such
[20:07:23] TRC: a published exchange rate that is against all currencies at IMF
[20:07:49] AMG: Heck yeah
[20:12:16] AMG: the 10,000,000 dinar question is………………How long before we see the first increase in IQD??????????
[20:12:21] AMG sent an audio message: Drumroll
[20:13:00] TRC: been waiting this long to get to this year
[20:14:40] TRC: they will not announce two month window for rest of banknotes
[20:14:54] TRC: the 50 was the only one
[20:15:40] AMG: yes
[21:47:22] Suharto: CBI give a green light now, but rates still not move hehehehe
[21:47:38] TRC: its coming
[21:47:48] TRC: will be this year
[21:48:01] Suharto: not this month trc?
[21:48:11] TRC: could be tomorrow
[21:48:25] Suharto: maybe
[21:49:35] Suharto: what happen if dinar not going to rv when qi card will activate outside Iraq?
[21:49:57] Suharto: As I know CBI doesn’t have enough liquidity
[21:50:00] TRC: central bank made it official Tuesday, they are going to do it this year
[21:50:21] Suharto: we must about 48 hours
[21:50:42] TRC: will be soon
[21:50:46] Suharto: maybe it like Zimbawe or Swiss currencies
[21:51:01] TRC: no,
[21:51:22] TRC: not like either, they are going to do it like Iraq
[21:51:29] TRC: :)
[21:51:34] Suharto: from another source IMF has been give a permission to CBI for doing rv
[21:52:00] TRC: its up to CBI when they do it
[21:52:08] Suharto: so dinar will rv by Iraq way
[21:52:53] TRC: the banknotes out now will hold value for ten years
[21:53:22] Suharto: so World bank, UN and IMF given decision to CBI. Only CBI give a decision
[21:53:56] Suharto: how about 50 dinar? will it still legal after 30 April?
[21:54:11] TRC: they have permission, is good.. but CBI makes decision when
[21:54:39] TRC: no the 50 will not hold value after April
[21:54:54] TRC: but the rest of the banknotes will
[21:55:37] Suharto: From article I seen RV need security, ISIL who hold up revaluing IQD
[21:56:33] TRC: ISIL, is confined to northern Iraq near Syria
[21:56:53] TRC: CBI and Abadi will decide if it is time
[21:57:29] TRC: as long as they are exporting oil , the iraqi dinar will be strong
[21:59:13] When is RV?
[21:59:13] Do we have date and rate
[22:02:15] TRC: they have political stability with new government
[22:02:32] TRC: that’s been lacking since 2003
[22:06:00] Tf: please tell me your thoughts on the “two years to complete” article..
[22:06:29] Tf: I know they can’t wait two years….
[22:06:44] Tf: to revalue the dinar…
[22:06:45] TRC: same plan , former CBI governors have shared with media
[22:07:36] TRC: there is a board at CBI, who are in charge of the process to remove the zeros from the iraqi dinar banknotes
[22:07:44] Tf: yes
[22:08:13] TRC: the plan is to gradually replace/phase out the large denominated banknotes
[22:08:18] Tf: yes
[22:08:48] TRC: will release one lower denominated note every couple months give or take
[22:08:54] Tf: yes
[22:09:07] TRC: starting with the 100 or 200
[22:09:15] Tf sent an audio message: Drumroll
[22:09:22] TRC: will be finished in two years
[22:09:51] TRC: this is the identical plan announced by Shabibi led board at CBI
[22:10:01] TRC: many years ago
[22:12:02] TRC: plan has always been two years to complete
[22:12:42] TRC: I did not understand what the finance committee was talking about at end of 2014, on four years
[22:13:03] TRC: I don’t think they knew either
[22:13:10] TRC: :-D
[22:16:52] Suharto: about 2 years it will be happen, starting when?
[22:17:30] TRC: CBI said they will begin administrative process now
[22:17:52] TRC: now what that means..we will see
[22:19:26] Suharto: administrative process??? hmm I though it happened since 2012 :)
[22:19:54] Tf sent an audio message: Drumroll
[22:20:00] Tf sent an audio message: Drumroll
[22:20:07] Tf sent an audio message: Drumroll
[22:20:10] Suharto: :-D
[22:20:24] TRC: supposed to happen in 2010
[22:20:28] TRC sent an audio message: Laugh
[22:21:22] Suharto: it surprise me when Governor CBI announce that
[22:21:33] Tf: a whole lot of shaking going on….
[22:21:49] Suharto: but I need change the rate
[22:22:06] TRC: am surprised too
[22:22:10] Suharto: please change the rate!:)
[22:22:28] TRC: was interesting day
[22:22:39] Suharto: usually it has effect to their currency
[22:22:51] Suharto: but dinar still not move
[22:23:48] Suharto: what do they wait now? no date or rate ? who know?
[22:24:09] Tf: the dinar has a dirty rate now….
[22:24:22] Tf: not market driven….
[22:24:34] TRC: yep, artificial value, not published rate
[22:24:38] Suharto: what do you mean Tf?
[22:25:08] Suharto: still no auction how do they sell dollar?
[22:25:34] Suharto: how to financing their import without auction?
[22:25:41] Suharto: confusing
[22:26:00] Tf: that is what we have been waiting for all this time, Suharto
[22:26:13] Tf: for the dinar to be market driven again….
[22:26:28] Tf: after all these years of chapter 7 sanctions….
[22:26:31] TRC: they are buying and selling currencies now at private banks
[22:26:44] TRC: not at CBI auctions
[22:27:21] Tf: Iraq has been working to get their horse ready to run in the race….
[22:27:43] Tf: IMO…..they are in the starting gate…..
[22:27:46] Tf: now….
[22:27:52] Tf: waiting….
[22:27:53] Suharto: meaning forex has active now?
[22:28:03] Tf: yes
[22:28:59] Suharto: but in XE.com dinar still not move, as IMF suggest I need 2% spread
[22:29:13] Suharto: hmmm, thinking???
[22:29:23] Tf: those days are behind us, Suharto…
[22:30:45] Suharto: Iraq military do offensive without US back up, it surprise me too
[22:31:05] TRC: transition phase now
[22:31:27] Suharto: Iraq can do by self now without alliance help
[22:31:33] TRC: Iraq politically is united,
[22:31:41] TRC: seems
[22:31:57] TRC: maybe first time ever
[22:31:59] Suharto: list for RV needed
[22:32:08] Suharto: Political is done
[22:32:34] Suharto: Economic almost done, they just need finishing HCL
[22:32:48] Suharto: Only security still fragile
[22:34:45] Suharto: I read in Kompas news paper, 5 iraq soldier and 11 militia who pro baghdad is dead. ISIS still strong
[22:34:48] TRC: security is quite good
[22:35:14] TRC: Baghdad area is safer than it has been in 12 years
[22:35:20] Suharto: I am worry Iraq will lose in Mosul
[22:35:24] TRC: no more curfews
[22:35:39] TRC: no road blocks
[22:36:05] TRC: nite trains now to Basra
[22:39:05] Suharto: Iraq economy booster is Basra and Erbil
[22:46:05] TRC: yeah
[22:48:42] TRC: we now know, this year they will do it
[22:49:01] Suharto: I hope more faster
[22:53:33] TRC: be a good investor, be patient
[22:53:39] TRC: :)