Chatroom Log Thursday

[19:51:06] AMG: how was your day
[19:51:15] TRC: good
[19:51:36] TRC: whats new
[19:52:00] AMG: interesting post on the 50 dinar note
[19:54:43] AMG: the talk of the town
[19:59:27] AMG: what are your thoughts relating to the 50 IQD note??
[19:59:34] When is RV?
[19:59:34] Do we have date and rate
[20:00:15] TRC: they never announced before, about printing new 50 with new security features,
[20:00:53] TRC: so assuming, only the larger notes would get the new security features,
[20:01:46] TRC: the current 50’s will cease to be used after April 30th, and will no longer hold value
[20:02:21] AMG: saw some folks with 50’s starting to panic
[20:02:35] TRC: the 250,500 and 1000 and up are supposedly
[20:03:24] TRC: yes I thought at one time of getting some 50’s too, as to be safe if there was a lop
[20:03:31] AMG: the 50 is the only note i don’t have………………99% have 3 zeroes
[20:03:41] TRC: obviously there will be no lop
[20:04:04] AMG: yup
[20:05:41] TRC: I am sure the dinar dealers are getting swamped
[20:05:57] AMG: the 50 was useless anyway at this time and before
[20:06:20] TRC: I am waiting in quewe now , asked the obvious question, waiting for response
[20:06:43] AMG: ohh
[20:07:59] TRC: iraqi banks will accept them at current value
[20:09:27] TRC: now we must ask the obvious question, what is CBI up to
[20:09:34] TRC sent an audio message: Drumroll
[20:10:28] AMG: been thinking that all day……………………..several scenarios
[20:10:33] AMG sent an audio message: Drumroll
[20:13:29] TRC: can only assume, that rates may be different on current large IQD banknotes, than what is official value, after a revaluation
[20:13:49] TRC: when exchanging outside Iraq
[20:14:54] TRC: a new currency being released at latter date, with new 100,50,25 being released
[20:15:03] AMG: possibilities boggle the mind
[20:20:19] design: it really does AMG…..
[20:20:24] TRC: a new currency being released after April 30th
[20:21:27] AMG: I missed that one TRC
[20:22:13] TRC: I am making a scenario
[20:23:15] AMG: brb………keep that thought lol
[20:24:02] TRC: seems dinartrade/xchange of america is stumped too, still waiting for response
[20:24:12] TRC: :-D
[20:24:23] TRC: am in chat there
[20:31:52] design: lol
[20:35:47] AMG: please hold
[20:35:51] AMG sent an audio message: Laugh
[20:36:21] TRC: no official response on that yet
[20:36:53] TRC: the helper had to ask the boss, he had to ask his boss
[20:36:58] TRC sent an audio message: Drumroll
[20:37:16] AMG: maybe, they’re putting a statement together……………cuz of all the interest
[20:37:45] AMG: that’s funny
[20:37:54] AMG sent an audio message: Oh Boy!
[20:40:41] TRC: as far as I can tell, they don’t buy 50 dinar notes
[20:41:09] AMG sent an audio message: Oh ohh!
[20:41:18] TRC: looked on buying currency page, they only have 5k, 10k, and 25k notes listed
[20:44:10] TRC: Kirkuk police headquarters announced on Thursday the arrest of the driver’s personal vice president of the former regime required by the Iraqi judiciary Izzat al-Duri, indicating that the detainee is a senior leader in Naqshbandi that led the league army
[20:44:56] TRC: this dude is still on loose unbelievable, 25 million dollar awards on his capture
[20:45:15] TRC: 2003, USA put bounty on his capture
[20:45:38] TRC: al-duri’s driver was captured today
[20:45:47] TRC: :whistle:
[20:45:56] TRC: where is al duri
[20:47:30] TRC: “the driver of Tikrit province, and had been working in the private security apparatus during the rule of Saddam Hussein, then later joined a group allied with Akechbdah Daash in Sunni areas of Iraq.”
[20:48:08] AMG: whoa
[20:49:31] AMG: maybe al duri is still hanging out there
[20:50:15] TRC: hard to believe
[20:50:36] TRC: he must have a very loyal crew protecting him
[20:50:53] TRC: republican guard
[20:51:18] TRC: maybe he is giving support to al baghdadi
[20:52:50] TRC: al duri was next in power to saddam , if anything happened to saddam , he was supposed to take command
[20:53:08] TRC: he is still on loose?
[20:57:14] AMG: scary
[20:59:36] When is RV?
[20:59:36] Do we have date and rate
[21:00:22] AMG: soon, no and no :-D
[21:00:31] AMG sent an audio message: Laugh
[21:01:32] AMG: before summer would be nice!!
[21:03:25] TRC: must be close
[21:12:00] TRC: The Cabinet Minutes fifth held regular on 03/02/2015 approve the recommendation of the Committee on Economic Affairs on the inclusion of goods and materials imported all Product those of the Iraqi public companies, and mixed, and private all customs tariff No. 22 for the year 2010 law, that this decision is implemented, starting from Date of 03/01/2015.
[21:12:04] TRC sent an audio message: Drumroll
[21:13:45] AMG: oh
[21:14:55] AMG: taxes will be high on tobacco, booze imported cars and so on
[21:15:24] design sent an audio message: Drumroll
[21:18:50] TRC: March 1st
[21:20:06] design sent an audio message: Oh Boy!
[21:22:37] TRC: lots of weird and interesting news
[21:22:42] TRC sent an audio message: Clear Throat
[21:33:48] TRC: so custom tariffs go into effect , same day the start of withdrawal of the 50 IQD banknote
[21:33:58] TRC sent an audio message: Drumroll
[21:34:11] TRC: makes you go hmm
[21:34:27] AMG: i like that ^.^
[21:34:54] TRC: things are happening, but we don’t know where we stand
[21:34:59] TRC sent an audio message: Laugh
[21:35:19] AMG: Looking forward to Sunday/Monday
[21:35:49] AMG: keep us confused is their goal
[21:36:47] TRC: :-D
[21:38:20] TRC: on another view of the scenario , the 50 IQD banknote is much too small , compared to say the size of a USD banknote
[21:38:48] TRC: now global ATM’s use standard size banknotes
[21:39:11] TRC: the Euro and the USD are basically same size
[21:39:15] AMG: yes, can we assume the new denoms will b of 1 size
[21:39:59] TRC: now lets just say the CBI is getting rid of the 50 banknote, just because it cannot be used in a global ATM machine
[21:40:16] AMG: my VND are same size I belive
[21:40:17] TRC: will issue another 50
[21:40:27] AMG: hmm
[21:40:39] TRC: maybe not right away
[21:40:51] TRC: but we have to wait and see
[21:41:40] TRC: the VND are small,
[21:41:40] AMG: :whistle:
[21:42:01] AMG: yes and they feel funny
[21:42:02] TRC: not sure if they are all same size
[21:42:07] AMG sent an audio message: Laugh
[21:42:15] TRC: only have one denom
[21:42:39] TRC: 100,000
[21:42:53] AMG: has 2 denoms
[21:43:47] AMG: 250,000 and 500,000
[21:44:04] TRC: but in the bigger picture, thats what CBI is doing, getting rid of the much too small 50, because of sizes of banknotes used in ATM
[21:44:21] AMG: is gonna visit them on Sat
[21:44:54] AMG: makes sense
[21:45:11] TRC: Rafidain bank manager said earlier this year, the deletion of the zeros need to be done to use the global ATM
[21:45:51] TRC: not sure what kind of set up they have now, with the ATM’s used now
[21:46:16] TRC: must only distribute one or two denominations
[21:46:34] TRC: 25000 and 10000
[21:47:55] TRC: the people who hold 50 IQD banknotes should call local bank or IQD dealer closest to where they are , if they have a large amount
[21:49:38] AMG: yup
[21:49:57] TRC: usually at any ATM’s I have used they release 20’s,
[21:50:14] AMG: same here
[21:50:48] TRC: but Iraq does not have a 25 dinar banknote, yet
[21:52:28] TRC: in a gradual redenomination/change over of currency from large denominations to smaller denominations it would be much smoother if all banknotes were same size
[21:52:50] TRC: to be used at ATM’s
[21:53:39] TRC: they have stated that the plan was to use global ATM
[21:54:02] TRC: international standards
[21:54:11] AMG sent an audio message: Yahoo!
[21:54:25] TRC: will throw out USD as easily as IQD
[21:54:53] TRC: so banknotes would need to be a standard size
[21:59:37] When is RV?
[21:59:37] Do we have date and rate
[22:09:59] TRC: thats all I got
[22:10:04] TRC: :-o
[22:10:09] TRC: :-D
[22:10:22] AMG: :whistle:
[22:10:26] TRC: brain is empty
[22:11:22] TRC: now we know custom tariffs and rv was talked about, in connecting manner we will see if it comes to fruition
[22:11:45] AMG: :bow: yup
[22:20:25] TRC: quite a coincidence, custom tariffs begins same day the 50 IQD banknote starts being pulled
[22:20:34] TRC sent an audio message: Yell!
[22:20:44] Tf sent an audio message: Oh Boy!
[22:21:02] Tf: coincidence???
[22:21:13] Tf sent an audio message: Oh ohh!
[22:21:42] TRC: is it?
[22:21:57] Tf: no coincidence….IMO
[22:22:07] Tf: part of the plan
[22:22:38] Tf: the pieces keep falling in place….

Chatroom Log Sunday

[20:23:16] Stormy: Saw budget was in Gazette
[20:23:39] TRC: has not been published in media tho, am looking
[20:24:00] Stormy: Oh.
[20:25:53] TRC: there was no currency auction
[20:26:09] TRC: have to see how this works
[20:26:16] Stormy: Please explain the implications of no currency auctions.
[20:26:34] TRC: IQD is on currency markets
[20:26:52] TRC: not sure if it starts Monday , or tonite
[20:27:44] Stormy: Does this mean paired on Forex?
[20:27:52] TRC: Forex opened at 5 eastern New York time, but real trading action usually doesn’t start til morning in Europe
[20:28:30] TRC: just looked at Forex update , for IQD it has not changed since Friday
[20:28:47] TRC: updated at 8 pm eastern time
[20:29:23] TRC: USA does not have auction for USD, so IQD will do same as USD
[20:30:50] TRC: of course want to see what exchange rate says, at bottom of budget when media publishes it
[20:31:21] TRC: official iraqi newsmedia , is down SO far for Monday morning
[20:38:39] TRC: without auction, is the IQD going to have basket of foreign currencies to set value
[20:39:00] TRC: we will need to watch n wait
[20:41:25] Stormy: Does Iraq have a lot of foreign reserves besides USD?
[20:41:47] TRC: Turkey went into Syria today, to get body of a Sultan of ottoman empire , buried there since 12th century
[20:42:12] TRC: ISIS threatened to blow it up
[20:42:50] TRC: Iraq has gold and USD
[20:43:01] TRC: not sure what else
[20:43:21] Stormy: So what is the significance of basket of currencies?
[20:43:50] TRC: all the gulf countries use basket
[20:44:01] TRC: exchange rate mechanism
[20:44:32] TRC: mainly Euro, Pound, Yen, USD,
[20:45:00] Stormy: But if Iraq has just USD and gold, what is significance of basket of currencies
[20:45:45] TRC: well we don’t know if they switched to basket
[20:46:24] TRC: all CBI said, is a new mechanism for IQD, starting this week, the end of auctions
[20:51:42] Stormy: We will see.
[21:05:57] AMG: well it seems they stopped the auctions………. printed the budget (part of it anyway)…
[21:06:17] AMG: let’s see what happens tomorrow …..
[21:06:25] TRC: have not see budget in media, not yet
[21:06:52] TRC: when it is posted exchange rate will be on bottom
[21:07:42] TRC: now we must see what sort of exchange rate mechanism CBI is going to use
[21:08:09] AMG: ??, thought you posted it……….it displays in Arabic :-(
[21:08:14] TRC: very quiet on that stuff
[21:08:25] TRC: not full budget
[21:08:51] TRC: Ministry of Planning site just said budget is published in gazzette
[21:09:08] TRC: that has not been posted in media
[21:09:08] AMG: yes, they are stringing us along, again lol
[21:09:51] TRC: waiting to look at official iraqi newspaper, for Monday, but is down
[21:10:04] AMG: oh
[21:10:14] TRC: nothing there
[21:10:18] TRC: :-D
[21:10:26] TRC: blank page
[21:10:59] TRC: RUMOR said news black out, but we will see
[21:11:04] TRC sent an audio message: Laugh
[21:11:51] TRC: IQD value has increased with dealers and banks
[21:11:52] AMG: i can wait til then
[21:12:15] TRC: in expectations of a higher rate
[21:13:17] TRC: one holder of IQD I know said bank, asked to buy his off him, at least some of it
[21:13:39] TRC: he said no, unless he gets 10 cents
[21:13:43] TRC: lol
[21:13:58] AMG: ohhhh, that’s interesting
[21:14:22] AMG: good man
[21:14:30] TRC: lots of interesting things going on right now in dinarland
[21:15:35] AMG: things are ramping up to retake Mosul ^.^
[21:20:03] TRC: if budget is in gazzette it will be in alsabaah Monday morning
[21:20:15] AMG: with the urgencv they have, this should be very busy weeek
[21:20:25] TRC: but alsabaah is down right now
[21:20:43] AMG: cmon Monday lol
[21:20:48] whippersnapper: I am…..just listening to TRC talk about this dinar revalue process…….and I am excited….
[21:21:13] TRC: I find it interesting
[21:21:22] TRC: very hopeful
[21:23:43] TRC: now on another interesting note, budget revenues are highly set on activating custom tariffs, which makes sense to start first of March
[21:24:03] TRC: which is next week
[21:24:24] TRC: they don’t have time to dilly dally
[21:24:30] whippersnapper sent an audio message: Oh Boy!
[21:24:36] whippersnapper sent an audio message: Drumroll
[21:24:46] TRC: they need the revenues from customs
[21:25:06] AMG: very nice, IMO oil will continue to rise in price in the near term
[21:25:51] TRC: we are watching Iraq moving into global economy, finally after many delays
[21:26:50] AMG: yes, we are literally watching – history in the making……………….I luv it ;)
[21:27:14] TRC: hard to believe currency auctions are finished
[21:27:16] AMG sent an audio message: Drumroll
[21:27:35] AMG: sure hope so
[21:28:52] TRC: Maliki and Abadi met Sunday, discussing government programme, was no drama
[21:29:13] AMG: wow
[21:29:43] AMG: M is still hanging around (without a noose) LOL
[21:29:53] AMG sent an audio message: Laugh
[21:30:04] AMG sent an audio message: Laugh
[21:30:06] TRC: Abadi is every where, I think he really does only sleep an hour a day
[21:38:31] TRC: Obama thinks pretty highly of Abadi, invited him for state visit
[21:38:35] TRC sent an audio message: Drumroll
[21:38:50] AMG: yup
[21:39:01] TRC: with all the bells n whistles
[21:39:25] AMG: cha-ching
[21:39:29] AMG sent an audio message: Drumroll
[21:42:10] TRC: waiting to see what comes next, currency auctions seem to be over
[21:42:12] Suharto: still no change rate
[21:42:49] Suharto: so Sunday no auction?
[21:43:52] TRC: nope
[21:44:08] TRC: has been no auction since 19th
[21:44:20] whippersnapper sent an audio message: Oh Boy!
[21:44:22] TRC: they are finished
[21:44:33] TRC: global banking now
[21:44:46] Suharto: so we waiting Forex now?
[21:44:51] AMG sent an audio message: Oh Boy!
[21:45:10] whippersnapper: good to see you, here, tonight….
[21:45:13] TRC: waiting to see what sort of exchange rate mechanism CBI will launch
[21:45:36] Suharto: cbi still not open yet
[21:45:40] Suharto: hmmm
[21:46:07] TRC: not sure what exactly is going on,
[22:05:43] Suharto: dinar bid for 1133 now?
[22:07:16] TRC: looks like open price
[22:07:45] TRC: but Forex really does not get into full gear until London starts business
[22:10:39] Suharto: London first? not New York?
[22:10:57] TRC: London is open before New York Monday
[22:11:27] TRC: financial markets open in London in a few hours
[22:12:13] Suharto: how is dinar status now? already entering international market now?
[22:13:54] TRC: we don’t know exactly, what is going on, but the value has risen at banks and currency dealers, anticipating increase in value
[22:15:08] Suharto: I seen dinar dealer stopping for sell iraqi dinar
[22:15:39] whippersnapper: did he want to keep it, Suharto??
[22:15:49] whippersnapper: :-D
[22:18:14] Suharto: :-D
[22:19:15] TRC: which dinar dealer?
[22:21:24] Suharto: dinar inc?
[22:26:31] TRC: you can still buy at others
[22:26:51] Suharto: http://treasuryvault.com/currencies/iraqi-dinar
[22:27:14] Suharto: price of 25000 dinar close to 49 dollar now
[22:27:40] TRC: should be worth 25000
[22:30:11] whippersnapper: 75,000, TRC????
[22:30:21] whippersnapper: maybe????
[22:30:24] TRC: 199.000
[22:32:13] Suharto: hope so trc :)
[22:33:23] Suharto: :bow:
[22:36:13] TRC: :-D
[22:37:17] Suharto: what do you after we get rv trc?
[22:37:37] Suharto: this site will it retire?
[22:37:56] TRC: website will be here until 2016
[22:38:05] Suharto: ouw
[22:38:17] Suharto: so we can still meet :)
[22:38:30] whippersnapper: :)
[22:39:07] Suharto: look boring now, no adventure anymore :P
[22:39:18] whippersnapper: not for me…
[22:39:29] whippersnapper: hold onto your hat….
[22:39:47] whippersnapper: :)

Chatroom Log Monday

[19:54:59] design: 48 tons of gold… used as a cover for delete zeros ?
[19:55:17] TRC: for new currency
[19:55:27] TRC: diversifying reserves
[19:55:35] TRC: away from US dollar
[19:55:52] design: ok..
[19:57:38] TRC: read that post about Azeri currency
[19:59:38] When is RV?
[19:59:38] Do we have date and rate
[19:59:51] design: yes… similar to Iraq situation?
[20:01:23] TRC: Iraq wants to move to basket of currencies
[20:01:45] TRC: diversify reserves, away from USD peg
[20:02:17] TRC: Azeri central bank is just using euro and dollar, which is a possibility
[20:02:26] TRC: with Iraq
[20:02:41] TRC: iraq just has USD peg
[20:02:45] design: basket of currencies, that good for us
[20:02:59] design: guess it would be
[20:03:33] TRC: GCC countries use basket,
[20:04:00] TRC: fixed rate,
[20:04:04] design: oh yea… ok
[20:04:36] TRC: I think IQD will use basket, but not sure how many currencies they will use, in it
[20:04:53] TRC: fixed rate
[20:05:00] TRC: to start
[20:05:19] design: ok… to start
[20:06:30] design: it all SOUNDS good!
[20:07:49] TRC: member of the Parliamentary Finance Committee MP Ahmed Rasheed believes to buy this amount of gold may be used by the central bank as a cover for the new currency
[20:08:25] TRC: Bank will issue and is also used as a cover for the process of deletion of zeros from the Iraqi currency
[20:09:36] design: that sounds does sound good
[20:09:47] teledive sent an audio message: Oh Boy!
[20:09:55] design sent an audio message: Drumroll
[20:17:03] TRC: oil was up again
[20:17:08] TRC: 62
[21:54:57] suharto: I read your last chat, you mention about 22nd February, what happen?
[21:56:00] suharto: about clearing house, will it need swift ?
[21:59:30] TRC: According to the CBI’s Law No.(56) for the year 2004 (revised), CBI issued instructions to achieve the goals of the bank and the stability of the IQD exchange rate against foreign currency through the optimum use of the resources of foreign exchange resources to meet all needs not distracting CBI with functions
[21:59:41] When is RV?
[21:59:41] Do we have date and rate
[22:00:00] TRC: which are the top of work of the banking system and the relevant offices, while adhering to the requirements of anti-money laundering and terrorism funding laws No. 93 for the year 2004.
[22:00:16] suharto: yes
[22:00:22] TRC: In the announcement, the list of allowed transactions funded from banks abroad mentioned. The instructions will be applicable starting from Feb. 22, 2015.
[22:00:41] suharto: hmm, understood
[22:01:10] TRC: CBI announced last week
[22:01:14] TRC: banks authorized to exercise all banking -financial companies approved the conversion of all- all licensed exchange companies (sale and purchase of foreign currency instructions)
[22:01:50] TRC: looks like forex may go into action with the dinar ,on 22nd
[22:01:53] suharto: so iraqis can directly do transaction or transfer their money to outside of Iraq
[22:02:03] TRC: looks like it
[22:02:27] TRC: we will need to wait and see how things look on 22nd
[22:02:36] suharto: I think we will get suprise on Monday morning
[22:03:09] suharto: will it surprise like Swiss Franc? interesting
[22:03:35] TRC: when dinar changes value, will be surprise
[22:03:56] TRC: but will not effect markets globally like the swiss franc
[22:04:38] TRC: the franc was linked to many other markets, the iraqi dinar is not yet linked with any global markets
[22:04:41] suharto: I ever see CBI stated have been doing exercise interbank transaction, what is that meaning?
[22:05:13] TRC: where did you see that
[22:05:23] suharto: on CBI site
[22:05:34] TRC: new announcement?
[22:05:35] suharto: arabic side
[22:05:57] suharto: few weeks ago
[22:06:01] TRC: ok
[22:06:13] TRC: sounds like testing,
[22:06:44] suharto: I don’t know what this meaning but this is very odd
[22:06:49] TRC: CBI does alot of testing
[22:07:13] suharto: many questionable now
[22:07:30] suharto: budget 2015 still not in budget
[22:07:44] suharto: I mean gazette
[22:07:53] TRC: budget will be activated soon
[22:08:12] suharto: now the payment will paid every 40 days
[22:08:16] suharto: confused
[22:08:26] TRC: what payment
[22:08:36] TRC: to Kurdistan?
[22:08:44] suharto: yes for Kurdistan
[22:09:00] TRC: has nothing to do with the IQD value
[22:10:13] suharto: I thought they wait for rv :)
[22:11:08] TRC: how they make payments to Kurdistan is in agreements, in budget, but has very little to do with monetary policy
[22:11:56] suharto: I still worry to ISIS
[22:12:15] suharto: ISIS getting close to Anbar now
[22:12:36] TRC: ISIS has been in Anbar for months
[22:13:06] TRC: nothing to worry about with them in Iraq,
[22:13:12] suharto: I hope US send the ground troops for eliminate ISIS
[22:13:44] TRC: they are not going to gain any more ground in Iraq
[22:13:54] suharto: Abadi said they don’t cash now or close to bankruptcy
[22:14:14] suharto: how to financing their budget ?
[22:14:31] TRC: Abadi said they are not bankrupt, but have lower oil revenues
[22:14:43] suharto: CBI said will not give loan to goi
[22:15:14] TRC: the budget price for oil is 56 dollars per barrel, oil per barrel today was 62 dollars
[22:15:26] suharto: but prediction price of oil will goes up
[22:15:58] suharto: what is the ideal oil price for iraq?
[22:16:00] TRC: so realistically Iraq has surplus beginning in March when today’s oil prices are reflected in revenues
[22:16:32] TRC: Iraq will do fine
[22:16:38] suharto: so it is the answer why budget still not open yet
[22:17:04] TRC: I think by 22nd, budget will be activated
[22:17:07] suharto: they wait good oil price?
[22:17:45] TRC: not sure why they are waiting
[22:18:18] suharto: gurus said budget will activate with new money
[22:18:40] TRC: ok
[22:18:47] TRC: we can assume
[22:19:06] TRC: or maybe with new value for the dinar
[22:19:13] TRC: :P
[22:19:13] suharto: I hope they prediction is right
[22:22:44] suharto: ok see you later on 23rd February
[22:22:49] TRC: lol
[22:22:53] TRC: yeah

Chatroom Log Sunday

[20:34:44] TRC: lots of interesting stuff
[20:36:28] TRC: price of oil went up
[20:36:57] TRC: Iraq will not hesitate too much for that reason on moving forward
[20:37:19] design: yea, i did see that
[20:37:28] design: cool..
[20:37:55] TRC: MP for citizen affiliated with the National Alliance bloc Habib Terminal, said Friday, that the banking system in Iraq as a whole is not in line with the size of the investment
[20:38:25] TRC: a new banking system has become an urgent necessity, and now must find a banking system in line with the global banking system”
[20:38:59] TRC: by the way Abadi is from citizen party , same as this guy
[20:39:20] design sent an audio message: Oh Boy!
[20:39:52] design: urgent…. new banking system!! :)
[20:41:22] TRC: Demanded an official source at the Central Bank of Iraq, on Saturday, monitoring the movement of the dollar and put controls on foreign exchange companies and check receipts and money transfer
[20:41:58] TRC: He called to “put a fixed exchange price by remittance companies, in addition to the control of receipts under which the transfer of funds, as well as determine source of the entry and exit of the dollar”
[20:43:35] TRC: Finance Committee revealed seeking Cabinet to increase dollar sales to 125 million instead of 75 million to reduce USD value
[20:43:46] design: good stuff for sure!
[20:44:11] TRC: indicating that the rise happening in the dollar will not continue, and there is a tendency to change its price against the dinar.
[20:45:02] design sent an audio message: Drumroll
[20:45:25] TRC: Finance Committee revealed in the House of Representatives for open electronic clearing system files across the banks
[20:45:47] TRC: Committee member Dr. Magda Abdel-Latif al-Tamimi, said in a statement singled out the “morning”: that the Commission will open this system files in 32 banks including the government banks within the development of banking project.
[20:46:14] TRC: It added that the electronic clearing system based on smart instruments, the common knowledge in their account in more than one bank, and also appears in the central bank.
[20:46:38] design: getting better and better!!
[20:46:42] TRC: The World Bank has allocated $10 million for the restructuring of State-owned banks and activation of electronic transactions including electronic clearing system.
[20:47:28] TRC: looks like this may happen this week
[20:47:46] design sent an audio message: Oh Boy!
[20:48:58] design: :)
[20:51:12] TRC: 22nd just may be day
[20:54:23] TRC sent an audio message: Clear Throat
[20:57:09] design sent an audio message: Drumroll
[20:57:31] design sent an audio message: Oh Boy!
[20:59:13] When is RV?
[20:59:13] Do we have date and rate
[20:59:27] design: 22nd sounds just fine!! :)
[20:59:31] TRC: 22nd
[20:59:43] TRC: rate?
[21:00:09] design: have always said 1.00
[21:02:11] TRC: Worldbank needs to give Iraq a credit rating
[21:02:26] TRC: this is how they are doing it
[21:02:58] TRC: to get Iraq to publish exchange rate globally
[21:10:10] design: great stuff TRC…
[21:26:02] TRC: an MP from Iraq’s parliament was assassinated on weekend
[21:26:19] TRC: was a sunni
[21:27:28] TRC: caused ruccas , in parliament on Saturday, between sunni bloc and state law, which is maliki’s bloc
[21:28:27] TRC: sunni bloc say they are boycotting sessions of parliament,
[21:28:45] TRC: have to see if Abadi can be the hero again
[21:31:58] design: :)
[21:34:42] teledive: WTO will solidify the fire that Abadi has started!
[22:28:41] whippersnapper: I was sorry to hear about the Sunni parliament bloc…..
[22:29:03] whippersnapper: how can people be so hardened and cruel????
[22:29:03] teledive: agreed…:)
[22:29:17] whippersnapper: I don’t undersand….
[22:29:51] TRC: thats nothing
[22:30:02] whippersnapper: oh???
[22:30:11] TRC: lots worse stuff going on over there
[22:30:20] whippersnapper: in Iraq??
[22:30:43] TRC: yes
[22:30:48] whippersnapper: by ISIS???
[22:30:52] TRC: yeah
[22:31:15] whippersnapper: IMO, their days are numbered there….in Iraq…
[22:31:59] TRC: they seem to be doing every night marish thing ever dreamed up
[22:32:02] whippersnapper: IMO, they won’t be able o find a rock to hide under soon…
[22:33:22] TRC: like attila the hun or mongol hoards, these folks are right out of middle ages
[22:33:49] whippersnapper: yes, they are
[22:34:43] design: i agree, soon they will pay for it
[22:39:00] TRC: iraqi forces captured leader’s uncle , news said
[22:43:41] TRC: looks like may see vote in UN security council to send an allied force to region to eliminate them, similar to korean war
[22:44:03] whippersnapper: IMO, you have to fight fire with fire with these people..

Chatroom Log Thursday

[22:19:06] Stormy: Looking for some good news from Iraq
[22:19:52] TRC: looks like might see some movement with the currency on 22nd
[22:20:42] Stormy: In your opinion, will it be a major move or just some pips
[22:23:08] TRC: I don’t know
[22:23:44] TRC: we have to see, did you read the article on the conference hosted by Abadi
[22:24:10] Stormy: No, came here first. I will read.
[22:25:57] TRC: Abadi promised Iraq would join WTO within 6 months
[22:33:19] Stormy: Much needs to happen before that happens, yes?
[22:34:10] TRC: they are scheduled , by July
[22:34:23] TRC: was announced last year
[22:35:06] TRC: plans have not changed, just the Prime Minister aims to meet the schedule
[22:38:53] TRC: there are a few money brokers will begin business on 22nd
[22:39:28] TRC: customs tariffs law supposed to be activated also
[22:40:05] TRC: all seems to be going to happen, what we have discussed for very long time
[22:40:44] TRC: we will have to see what CBI will do concerning the exchange rate
[22:42:55] TRC: there was talk at one time, activating the custom tariffs and revaluing the currency would go hand in hand, as to cancel any increase in costs
[22:43:05] TRC: effects of the tax on imports
[22:44:41] TRC: of course after that, currency changeover..would start
[22:45:04] Stormy: Is ISIS a factor in all of this?
[22:45:06] TRC: we need to see if CBI does do this
[22:45:56] TRC: I don’t think ISIS has affect, no
[22:46:13] TRC: only effect is uniting Iraq
[22:46:24] TRC: concerning the currency
[22:46:46] TRC: CBI has large reserves can support the currency
[22:48:29] TRC: the currency I do not feel, can go trading on a global status at current artificial rate
[22:48:57] TRC: remember it is not convertible anywhere
[22:49:13] TRC: except against USD
[22:50:13] TRC: a published exchange rate, needs a new exchange rate regime , with basket of currencies
[22:51:32] TRC: in order for it to be used in the many trade agreements, and investment law, where free movement of money is part of those agreements and the investment law
[22:52:43] TRC: Abadi wants Iraq to join WTO, they need to have a credit rating, in order to get one they need a published exchange rate at WorldBank
[22:52:54] TRC: :)
[22:53:34] TRC: your elbow is connected to your wrist bone
[22:53:38] TRC sent an audio message: Drumroll
[22:54:19] Stormy: I think you have said that Abadi is an economist?
[22:55:53] TRC: Abadi was chairman of the finance committee, in previous regime
[22:56:12] TRC: has doctorate in economics I believe
[22:59:43] When is RV?
[22:59:43] Do we have date and rate
[22:59:46] Stormy: I believe the Peshmerga could take on ISIS themselves if they had the weapons. I think the US is hesitant to give them the weapons they need because US is a little afraid to let Kurds become too strong militarily. I think the Kurds is the largest ethnic group in the world without their own country.

Chatroom Log Wednesday

[19:56:09] vegas bound: how close are we TRC?
[19:56:15] vegas bound: what u think.
[19:59:12] When is RV?
[19:59:12] Do we have date and rate
[20:05:56] TRC: I am very curious to see what Abadi has to say
[20:06:24] TRC: he is going to make some announcements Thursday
[20:07:21] TRC: we know lots of good stuff will happen due to budget approval
[20:07:55] AMG: ahh, the budget
[20:08:34] TRC: custom tariffs will finally be implemented
[20:09:24] TRC: never seen stock market go up almost 30% before in one session
[20:09:54] TRC: but , it has been on the slide since start of new year
[20:10:43] TRC: Abadi seems ready to activate investment law
[20:10:50] AMG: yes, that was big jump
[20:11:44] TRC: which in turn activates trade agreements signed previously with estimated 60 countries
[20:12:31] AMG: let the dominoes fall
[20:12:45] TRC: Iraq seems ready to follow thru with the needed economic reforms to enable full membership in WTO this year
[20:13:11] AMG sent an audio message: Drumroll
[20:13:15] TRC: previous administrations in Iraq refused
[20:14:54] TRC: the investment law by the way contains the free movement of money in/out of Iraq, as does the trade agreements previously signed
[20:16:24] TRC: the CBI announcement today pertains to the money brokers listed on ISX the last couple weeks
[20:16:39] TRC: part of announcement
[20:17:11] TRC: fully licensed to operate
[20:19:07] Tf: does any of this surprise you???
[20:19:26] TRC: “the al-Rashid Hotel in central Baghdad will host at ten o’clock on Thursday morning broad conference to announce the private sector development strategy.”
[20:19:35] TRC: :)
[20:19:50] Tf: :)
[20:19:53] TRC: “the Prime Minister Haider al-Abadi will sponsor and attend this conference, which will be attended by ministers, ambassadors, MPs, experts and international organizations.”
[20:20:10] Tf: :)
[20:20:31] TRC: may be the biggest conference since 2003, concerning Iraq’s economy
[20:20:44] Tf: :)
[20:21:06] TRC: the ISX obviously expects so
[20:21:07] Tf: may be????
[20:21:31] Tf: yes…
[20:22:15] TRC: not sure when budget is launched, some say Thursday
[20:22:43] TRC: maybe Abadi will announce budget being launched
[20:23:50] TRC: Ministry of Finance supposed to announce custom tariffs being launched
[20:24:09] TRC: but not sure if he will Thursday
[20:24:26] TRC: have to see what Thursday brings
[20:25:25] Tf: :)
[20:25:40] TRC: they did not clearly mention what the fine details will be talked about at conference,
[20:26:00] Tf: could they????
[20:26:08] TRC: that’s why people will go, to see
[20:26:23] TRC: we will see in the news
[20:26:40] Tf: I have to say that I have been impressed with the CBI….
[20:27:05] TRC: CBI governor will attend too, I imagine
[20:28:11] Tf: IMO…..they will not disappoint anyone….
[20:28:41] Tf: I look for them to hit it out of the ball park….
[20:29:12] Tf: one of those….take your breath away moments…..
[20:29:38] TRC: lots of changes in Baghdad the last week, night curfew lifted finally after ten years, Baghdad airport now doing red eye flights for first time in ten years
[20:30:37] Tf: yes….a whole lot of shaking going on….
[20:31:22] TRC: they opened a bunch of streets too closed since 2003
[20:31:34] TRC: all in last week
[20:31:54] AMG: cmon Thursday…………surprise us :-D
[20:31:56] Tf: you didn’t answer my question….
[20:31:59] AMG sent an audio message: Drumroll
[20:32:47] TRC: no point in having conference if you say to public the fine details before Tf
[20:33:15] Tf: please don’t misunderstand me, TRC
[20:34:08] TRC: lifting all restrictions on trade is what I imagine is subject matter
[20:34:48] TRC: CBI governor must lift all restrictions as well on currency
[20:35:31] Tf: you still haven’t answered my question….
[20:36:03] TRC: ?
[20:36:25] AMG: ?
[20:36:34] TRC: surprised?
[20:36:44] Tf: does any of this surprise you???
[20:36:48] TRC: aren’t you surprised Tf
[20:36:53] Tf: no
[20:37:08] Tf: you told me this would happen….
[20:37:16] TRC: :P
[20:38:00] AMG sent an audio message: Drumroll
[20:40:58] Stormy: I wonder how conversation between Greeks and Germans went.
[20:41:34] TRC: don’t think too good
[20:41:36] TRC: lol
[20:41:47] Stormy: Greeks: We want war reparations! Germans: Ok, let me think about it…. uh, no.
[20:42:02] AMG sent an audio message: Laugh
[20:42:18] TRC: probably same as meeting in Minsk today between France, Germany, Ukraine and Russia
[20:42:29] TRC: Europe splitting
[20:42:38] TRC: can you hear it
[20:42:48] TRC: like a piece of dry wood
[20:42:55] TRC: :*-/
[20:43:10] Stormy: I don’t remember Col Klink’s commander threatening to send him to the Greek Front.
[20:43:22] TRC: Russia asked for reparations too last week from Germany
[20:43:49] TRC: 70 years too late
[20:43:49] AMG: hmm
[20:44:37] Stormy: Germans sent Russia Lenin in WWI
[20:44:38] AMG: interesting………………….seeing both countries are hurting for cash
[20:45:05] TRC: Russian so called expert said today Ukraine is an artificial state not real
[20:45:12] TRC: hmm
[20:45:22] TRC: west does not agree
[20:45:41] TRC: neither does United Nations
[20:46:04] Stormy: Isn’t Ukraine on the old Risk game board?
[20:46:20] TRC: stages seem to be setting for next war
[20:46:46] TRC: cant remember Stormy
[20:46:54] TRC: had risk
[20:47:04] TRC: but don’t know where it is now
[20:47:14] Stormy: Nah, no major war. The Central Bankers are in control
[20:47:49] TRC: never seen any announcements from the Minsk conference today
[20:47:58] TRC: top secret
[20:48:38] TRC: nobody better say, we have peace in our time, or I know we are doomed
[20:48:44] TRC sent an audio message: Laugh
[20:49:03] Stormy: Yep, Central banking is top secret. That is why Fed is fighting very hard against being audited by US Congress
[20:49:12] Tf: would you be surprised???
[20:49:50] TRC: PM of UK said we have peace in our time, in 1938,
[20:49:56] TRC: lol
[20:50:00] Tf: yes
[20:50:17] Tf: Chamberlain??
[20:51:12] TRC: west’s leader this time around in the mediating seems to be Chancellar of Germany
[20:51:30] Tf sent an audio message: Oh ohh!
[20:51:33] TRC: trying to swing a deal
[20:52:00] TRC: but talks to obama after the meetings
[20:53:25] TRC: it looks like if USA does begin arming Ukraine, Germany will also
[20:53:53] TRC: Germany and USA seem to be on same team
[20:53:54] Stormy: “Never get involved in a land war in Asia” but only slightly less well known is this, “Never go against a Sicilian when death is on the line!!”
[20:55:02] TRC: land wars in Asia are always on very large scale
[20:55:21] TRC: back to the mongol hoards
[20:55:54] Stormy: That is a line from the movie The Princess Bride
[20:56:41] TRC: Putin supposedly told obama, that arming Ukraine is declaration of war
[20:57:49] TRC: seems there are many in Washington that support arming Ukraine
[20:58:10] AMG: yes
[20:58:32] TRC: obama just wants to go to Hawaii, retire early
[20:58:38] TRC: :whistle:
[20:59:13] When is RV?
[20:59:13] Do we have date and rate
[20:59:31] Stormy: I’ve got 10 bucks to contribute to an early buyout
[20:59:39] TRC: lol
[21:00:08] TRC: he didn’t take that job to go to war, he wanted to end all wars
[21:00:11] AMG: hawaii – retire = paradise
[21:00:17] Stormy: Maybe I should start a crowdfunding campaign
[21:00:43] TRC: he is too nice to be in this position
[21:00:47] TRC sent an audio message: Drumroll
[21:01:11] Stormy: Hello? is NSA watching????
[21:01:18] TRC: I think putin took total advantage of obama
[21:02:45] TRC: bush wouldn’t have given him an inch, obama wanted to be his buddy
[21:05:35] Stormy: I do agree with Pres on ISIS. Too many US peeps died there. Time for others to step up. We will bomb the heck out of them but y’all in ME need to put your boots on the ground
[21:06:12] TRC: Iraq does not want foreign troops there
[21:06:51] Stormy: Good. Step up and do the job.
[21:07:19] TRC: these politicians that say they should not have left, or they should send etc. , are forgetting they cannot put foreign troops in another country without local country’s approval
[21:07:29] TRC: that worsens things, not help
[21:08:15] TRC: parliament in Iraq voted against us troops staying
[21:08:51] TRC: mcain seems to be going senile, or is forgetting many things
[21:09:57] TRC: some local leaders in some provinces in Iraq, have asked for US troops, but not the government in Baghdad
[21:12:01] TRC: iraqi forces are building up their armaments for an offensive on Mosul
[21:12:33] TRC: they want overwhelming force, so will be a while yet
[21:12:44] AMG: yup
[21:12:53] TRC: there will be US advisers and other nations
[21:13:40] TRC: will be like german blitzkrieg, before they will drop flyers for the citizens to get out of the way
[21:14:39] TRC: Iraq is getting 100+ tanks for this assault, along with overwhelming air power
[21:15:59] TRC: what you should see is the city flushed out, then the finishing of the remnants some where on the one road they leave open
[21:16:09] AMG: just hopes we exchange before that happens
[21:16:24] TRC: they will leave one road open for obvious reasons
[21:17:19] TRC: similar to what happened to iraqi forces leaving battle zone in Kuwait
[21:18:10] TRC: don’t think any power want to take any prisoners
[21:18:14] TRC: :whistle:
[21:21:14] TRC: these so called gangs , are very undisciplined, should fall for tricks of old military college , in front of any well trained military assault
[21:21:38] TRC sent an audio message: Drumroll
[21:21:42] AMG: :whistle:
[21:21:50] TRC: :-D
[21:23:04] TRC: see Anonymous is shutting down ISIS sites, and publishing their e-mail address, and where they live
[21:23:09] TRC sent an audio message: Laugh
[21:23:43] AMG: yes….good stuff…………….for a change
[21:23:47] TRC: who have thought they were friends of the civilised world
[21:24:44] AMG: I agree

Chatroom Log

[19:37:45] TRC: see the use of the credit card will be in arab countries first
[19:38:04] TRC: then globally after
[19:38:15] TRC: :)
[19:38:52] TRC: 3G system will be available for iraqi customers in March
[19:41:32] TRC: in a speech by abadi in Europe, he said 5 billion dinars is equivalent to 450 million dollars
[19:41:59] TRC: not sure if that was a booboo, or he made bigger booboo
[19:42:07] TRC: :whistle:
[19:44:56] design: hmmm
[19:45:48] 68 days: news looking good :)
[19:47:50] 68 days: or……
[19:49:03] 68 days: that would be an exchange rate of about a dime to the dinar
[19:49:47] TRC: oh well, grabbing at straws
[19:50:03] 68 days: yup
[19:50:16] 68 days: good idea tho,
[20:09:26] TRC: more talk about exchange rate of the dinar
[20:10:21] TRC: CBI is going ask abadi to interfere in budget section, where it interferes with CBI auction
[20:11:50] TRC: news is real interesting,
[20:12:13] TRC: custom tariffs seems very close to being activated
[20:12:27] AMG: wasn’t expecting anything until the 10th
[20:12:49] AMG: sooon
[20:13:41] AMG: so, Abadi was hangin out with Merkel
[20:14:03] AMG: getin my calc out
[20:14:22] AMG: hmm
[20:14:51] AMG: = about .08 cents?
[20:15:17] TRC: article, said prior to 2003 1 dollar was worth 400 dinars
[20:15:38] TRC: :P
[20:15:53] TRC: Monday morning official newspaper
[20:16:07] AMG: :-c
[20:16:53] TRC: before the invasion
[20:17:07] TRC: after the invasion it was 4000
[20:17:50] AMG: yup……….brang in the $$$ to prevent a collapse
[20:18:48] TRC: is 400 dinars to the dollar, 8 cents?
[20:19:09] AMG: hmm….no
[20:20:16] AMG: hmm
[20:25:56] AMG: gonna visit my IQD at the bank this week – and dust them off ^.^
[20:29:29] AMG: Smart cards – back in the news ^.^
[20:30:29] TRC: everything seems to be coming
[20:33:46] AMG: hopefully soon
[20:35:14] TRC: media asking parliament bout deleting the zeros
[20:35:31] TRC: they said, CBI just told them not now
[20:35:37] TRC sent an audio message: Laugh
[20:35:54] AMG sent an audio message: Say What?!
[20:36:29] AMG: they can’t tell anyway………………… lol
[20:36:44] AMG sent an audio message: Clear Throat
[20:37:38] TRC: many were pissed off.
[20:37:50] TRC: in dinarland
[20:38:20] AMG: hmm, why?
[20:38:41] TRC: parliament saying not now
[20:39:35] AMG: they should know better…………it will come like a thief in the night
[20:42:04] TRC: big party last nite in Baghdad
[20:42:19] AMG: curfew lifted/
[20:43:19] AMG: can’t wait for the REAL BIG PARTY ;)
[20:43:41] TRC: renewed calls requiring them to begin preliminary proceedings on implementation of the project to delete the three zeroes from the currency this year
[20:44:16] TRC: this is the year, I have no doubt
[20:45:11] TRC: the central bank must take initial steps to implement such a large strategic project starting this year will be applied in accordance with the stages and specific period of time, to support the national currency and the Iraqi economy.
[20:45:29] TRC sent an audio message: Are you sure?
[20:48:45] TRC: the central bank determine the timeframe for the implementation of the project to delete the zeros from the currency, the fact that the project is one of the important projects long-awaited years ago because of the security situation
[20:50:14] TRC: the ground suited the current climate appropriate to implement the project, the central bank to start preliminary implementation of the project through the promotion and printing currency and to identify and establish a mechanism for the issuance of the new currency and pulling old
[20:51:30] TRC: expert Jamil Antoine has confirmed that the deletion of zeros from the currency is a restructuring of the coin, to alleviate the large digital accounts burden treasurers
[20:52:28] TRC: The central bank had decided to implement the project to delete three zeros from the currency in early 2013, but the previous government refused to implement it and asked to wait to implement it until further notice
[20:52:44] TRC sent an audio message: Clear Throat
[20:56:09] AMG: NO MORE – “asked to wait to implement it until further notice” :-(
[20:57:34] AMG: is still celebrating our Super Bowl Victory ^.^
[20:58:12] AMG: ^.^
[20:59:09] AMG sent an audio message: Oh Boy!
[21:45:57] TRC: its funny Obama is try to get use of force passed in congress against ISIS
[21:46:13] TRC sent an audio message: Bogus
[21:47:04] AMG: good luck with that
[21:48:50] TRC: republicans should be able to approve that
[21:51:15] AMG: we’ll see
[21:52:18] AMG: hope my son gets back soon…before that
[21:52:40] AMG sent an audio message: Drumroll
[21:55:22] TRC: european media said pentagon wants to send 100,000 troops
[21:55:34] TRC: not sure how accurate
[21:56:09] TRC: Iraq does not want ground troops,
[21:56:17] TRC: as far as I can see
[21:57:07] AMG: nor do i
[21:57:28] TRC: Syria may want them , but not the Assad government
[21:57:44] TRC: free army as its called
[21:58:31] TRC: but Assad is russian ally, with russian bases there
[21:59:31] AMG: yup
[22:00:02] TRC: dont want forces too close in proximity in Syria, same scenario going on in Ukraine,
[22:01:24] TRC: pentagon gets approval to send forces, to fight ISIS, and Obama approves arming Ukraine, will be another step to conflict with Russia
[22:01:54] TRC: Russia got approval by Cyprus today to have base there
[22:02:23] AMG: oh
[22:02:59] TRC: why Russia wants base there, may have something to do with syrian situation
[22:03:13] TRC: Cyprus is not that far from
[22:04:43] TRC: Syria has been russia’s naval base in mediterranean sea for decades
[22:05:14] AMG: maybe they’re looking at options
[22:05:28] AMG sent an audio message: Clear Throat
[22:05:39] TRC: US air force set up an air base in Kurdistan
[22:06:02] TRC: for search n rescue for syrian down planes
[22:08:08] TRC: the heir to saddam’s regime spoke supposedly over weekend, from where.. nobody knows ..al duri said the burning of the jordanian pilot was wrong
[22:08:32] TRC: I wonder where this dude lives
[22:08:37] TRC: :-D
[22:09:16] TRC: 25 million dollar reward on his head, somebody who knows does not care about money
[22:33:12] TRC: huge explosion in Ukraine tonite
[22:38:45] TRC: https://www.youtube.com/watch?v=chD7uFjsfH0
[22:38:51] TRC: check it out
[22:39:00] TRC: scary stuff
[22:39:51] AMG: yes
[22:41:45] AMG: wonder what it was………………….and the cause
[22:42:24] TRC: some say tactical nuke others say weapons factory
[22:42:37] TRC: but was huge aftershocks
[22:42:50] TRC: broke windows mile away

[23:25:21] TRC sent an audio message: Drumroll
[23:25:51] TRC: ok I have had enough for one day..
[23:25:54] TRC: lol
[23:26:21] TRC: wait n see how monday looks

Chatroom Log Monday

[20:23:08] TRC: Rafidain and Rasheed banks announced releasing Mastercard inside and outside Iraq
[20:23:35] TRC: Ernst and Young contracted with Ministry of Finance
[20:24:20] TRC: Oil and gas law is ready to be sent to parliament for two readings and voted on
[20:25:14] TRC: Central Bank approves the appointment representative of private banks to the board of directors
[20:25:57] TRC: The oil agreement between Baghdad and Erbil entered into force
[20:26:32] TRC: Iraq host on 4th and 5th of this month, a major conference on investment
[20:26:56] AMG: What is “Ernst & Young”??…………….hmm, guess it was a little busy ;)
[20:27:25] AMG: thought they already had a investment conference
[20:27:31] TRC: american accounting firm
[20:27:34] AMG: :whistle:
[20:27:40] AMG: oh
[20:27:40] TRC: the application of Central Bank for a new system that provides for the possibility of depositors to withdraw their money from any bank in the country, expands the use of credit cards of all kinds
[20:28:29] TRC: will make every point (anywhere Cash) common for all banks, whether Iraq or other country”, they returned it was “very important to facilitate the work of banks in credit card use, which is known as Visa card.”
[20:29:06] AMG: Mastercard….sounds like they need a reality rate for that
[20:29:20] AMG: “or other country” …. I like the sound of that
[20:29:32] TRC: The General Secretariat of the Council of Ministers hosting Central Bank Governor Ali Mohsen Ismail Allaq, to discuss the mechanics of the general budget disbursement after approval by the House of Representatives.
[20:29:57] TRC: During the meeting, which was chaired by the Secretary General of the Council of Ministers offer extensive details of the budget materials and maintaining the Iraqi dinar exchange rate.
The meeting also discussed the importance of smart card in the trading and banking business dealings, and educate citizens use to reduce the procedures.
[20:30:40] TRC: The President of the Republic Fuad Masum, on Sunday, on the need for the independence of the central bank during a meeting with the Governor of the Central Bank Allaq in Baghdad.
[20:31:23] TRC: According to the statement was “an emphasis on the need for adherence on the Central Bank of its independence and the need to adopt all of the Bank’s policies and procedures on the Iraqi Central Bank Law.”
[20:31:31] TRC sent an audio message: Drumroll
[20:31:56] AMG: wow, that’s a mouthful………..
[20:32:17] AMG: is still reading
[20:32:21] AMG sent an audio message: Oh Boy!
[20:35:31] AMG sent an audio message: Drumroll
[20:35:35] TRC: governor of CBI is busy boy
[20:36:23] AMG: he needs to get busier and change the rate :-(
[20:36:32] AMG sent an audio message: Drumroll
[20:36:46] TRC: its coming
[20:38:29] TRC: they are going to dive right into the oil and gas law when parliament gets back on 10th, by looks of things
[20:38:41] TRC sent an audio message: Clear Throat
[20:38:54] TRC: :)
[20:39:05] AMG: 10th????
[20:39:09] AMG sent an audio message: Yell!
[20:39:29] TRC: first reading scheduled for 10th by looks of it
[20:40:18] TRC: they get that law passed this month that is huge!
[20:41:08] AMG: if they rv, that would be HUGE :-D
[20:41:10] TRC: historic!
[20:41:15] AMG sent an audio message: Drumroll
[20:41:35] TRC: IQD value dropped , Monday,
[20:42:00] TRC: CBI changing things made investor’s panic, buying the dollar
[20:42:30] AMG: ohh
[20:42:30] TRC: according economists IQD will return to its value in a few days
[20:42:59] TRC: lots of changes planned in currency markets this week
[20:56:25] AMG: could be interesting
[20:56:50] TRC: was an announcement on CBI site about currency sales
[20:56:53] TRC: today
[20:57:11] TRC: but was in arabic in pdf files a few pages
[20:57:31] AMG: :-(
[21:49:42] TRC: price of Brent crude was above 55 dollars late Monday
[21:51:19] design: :)
[21:59:00] TRC: Crude output in Iraq hit a record 4 million barrels a day, Oil Minister Adel Abdul Mahdi said in Baghdad on Jan. 18
[22:00:26] TRC: “The resurgence of Iraq will be a major this year,” Mike Wittner, head of oil research at Societe Generale SA in New York, said by phone
[22:03:49] TRC: budget will be launched by middle of February
[22:04:05] TRC: President signed it today

Chatroom Log Thursday

[19:30:31] AMG: good to see budget is done
[19:47:17] AMG: what’s next after the budget????
[19:47:28] TRC: auctions at CBI have been changed for February
[19:47:46] AMG sent an audio message: Clear Throat
[19:47:55] TRC: not sure
[19:48:12] AMG: changed how??
[19:48:43] TRC: limiting the auctions
[19:48:43] AMG: is very happy to see budget FINALLY done
[19:48:54] AMG: oh, ok
[19:49:31] AMG: wonder what that will actually accomplish…………..we’ll see
[19:50:15] TRC: CBI bonds have not been released yet
[19:50:25] TRC: still waiting on that
[19:51:00] AMG: has a doctorate in “waiting”
[19:51:05] AMG sent an audio message: Laugh
[19:52:23] TRC: CBI is much more involved in budget than previously
[19:54:10] TRC: lots of changes,
[19:54:29] TRC: getting budget passed will get rest started
[19:54:55] AMG: hopefully
[19:55:00] AMG: soon
[19:55:08] AMG: ^.^
[19:57:00] TRC: they voted over 60 times
[19:57:06] TRC: they are tired
[19:57:33] AMG: wish i could have seen that but, work got in the way
[19:58:14] AMG: guess they will take a short break
[19:58:21] TRC: never seen such an event in Iraq
[19:58:55] AMG: awesome – history has been made with more to come
[19:59:05] When is RV?
[19:59:05] Do we have date and rate
[19:59:53] AMG sent an audio message: Laugh
[19:59:58] TRC: Abadi has changed the political environment from top down
[20:00:22] AMG: sure has kicked butt
[20:00:28] AMG: loves it
[20:01:54] TRC: state law/maliki’s party tried to hold things up
[20:02:09] TRC: but for some reason did not work
[20:02:10] AMG: no surprise there
[20:02:41] AMG: will be glad when M is behind bars
[20:02:58] AMG: what a LOSER
[20:03:10] AMG sent an audio message: Yell!
[20:03:15] TRC: I think his party has lost alot of influence
[20:03:23] AMG: yup
[20:04:41] TRC: new budget begins February 1st
[20:05:59] TRC: will be in gazzette in record time
[20:06:27] TRC: supposed to be in gazzette by midnite on 31st
[20:06:42] TRC: we aren’t used to this speed
[20:07:09] AMG: for sure
[20:07:27] AMG: ^.^ but, we likee
[20:07:30] AMG sent an audio message: Drumroll
[20:08:00] TRC: used to take couple weeks to get in gazzette
[20:09:39] TRC: I think having an economist like Abadi in leader position may have thing to do with it
[20:10:24] AMG: ;)
[20:12:03] TRC: on bad news note, oil was down today
[20:12:46] AMG: hmm, MSn said it was up………………not sure
[20:13:15] AMG: I trust your sources TRC
[20:13:16] 79 days: methinks the more oil is down, the more Iraq looks to other ways to secure money
[20:15:55] TRC: oil in NY was 44.50
[20:16:07] TRC: :*-/
[20:19:06] TRC: 79 days that is the plan
[20:20:29] 79 days: seriously, when oil is this low, there is no plausable explanation. Iraq is almost all oil for its industry. methinks the world that set up this scenario is tired of waiting. never see it in writing.
[20:21:01] 79 days: 4 bucks a gallon to 1.88 ?!?
[20:21:13] 79 days sent an audio message: Laugh
[20:24:03] TRC: will be more changes to financial system
[20:24:16] 79 days: seems like its working, can see this whole economics thing being pushed finally
[20:25:03] TRC: limiting currency auctions, should mean lifting restrictions on global forex market
[20:29:31] TRC: CBI did say recently they will make it easier to buy n sell foreign currencies
[20:29:46] TRC: does it begin in February?
[20:30:22] 79 days sent an audio message: Drumroll
[20:32:52] 79 days: only have about 50+ hours to wait and see. Sunday is the 1st. always heard that a rate adjustment would be easiest on a Sunday for Iraq
[20:34:36] TRC: yes
[20:36:36] 79 days: no problem with having to wait till Sunday lol
[20:37:48] TRC: lol
[20:37:56] TRC: what choice we have
[20:40:33] AMG: yup, Superbowl Sunday
[21:38:07] TRC: February is looking better every day
[21:39:42] TRC: record oil exports, budget goes into effect, CBI lifting restrictions on foreign currency sales
[21:40:27] design: sounds good

Chatroom Log Sunday

[11:18:01] teledive: these things fall into place IMF loans to the Iraqi government
[11:18:30] teledive: the 2 billion and they restructure their monies and everybody is happy!
[11:19:48] 81 days: loved that article last night
[11:20:03] 81 days: we were just talking about it
[11:20:11] TRC: yes, that post describes where we are
[11:20:14] teledive: awesome read it was
[11:22:54] 81 days: When is rv
[11:23:06] 81 days: do we have a date and rate?
[11:23:30] teledive: si…soon
[11:32:14] TRC: CBI board of directors held extraordinary meeting
[11:32:20] TRC sent an audio message: Drumroll
[11:33:13] TRC: “the Board decided to take the necessary measures to support liquidity in the banking system to allow it to perform its functions normal, at the same time, the acquisition of government debt instruments to enhance sustainable development, job creation and prosperity.”
[11:34:19] TRC: “The Council also decided to simplify the procedures for the sale of foreign currency,” Money and Cash “in order to facilitate the stability of the market and the exchange rate.”
[11:40:48] 81 days: OMG, its happening, isnt it TRC
[11:41:04] 81 days: loves the word Prosperity, that and no PIP
[11:41:36] TRC: not confirmed, but looks good
[11:41:41] TRC: :)
[11:44:08] design: :)
[11:44:38] 81 days: well, of course they aint gonna tell us the exact plan, but reading between the lines this is definitely light at the end of our tunnel,
[11:44:55] 81 days: 12 years man…..
[11:45:03] 81 days: get er done
[11:50:32] TRC: 580 million dinars was being smuggled across border today
[11:50:40] TRC: was caught
[11:51:35] teledive: no way!
[11:51:47] 81 days: at the current exchange rate thats about 580k. better off smuggling dope
[11:52:06] teledive: yea but if it rv’s …
[11:52:09] teledive: :
[11:52:12] teledive: :
[11:52:20] 81 days: thank you, exactly my point
[11:52:35] teledive: sorry I rode the short bus..
[11:52:47] 81 days: no, was waiting for that
[11:52:56] teledive: ;) ok I drove the short bus…
[11:53:23] 81 days: therin lies the security issue, if they are smuggling it now, what will they do to get it once the rate goes up
[11:53:49] 81 days: and who’s bank ledger came up 580 million short?
[11:53:56] 81 days: what a mess
[11:54:20] teledive: the smuggling will always be an issue
[11:55:15] teledive: but once it does it’s deal …(won’t be our problemo
[11:56:43] 81 days: bingo
[11:56:59] 81 days: forget bingo… roulette
[11:57:01] 81 days: slots
[11:57:03] 81 days: poker
[11:57:10] 81 days sent an audio message: Laugh
[11:57:17] 81 days: see you all in vegas baby
[11:57:54] 81 days: even our canadian brother from the north said he may join us in vegas
[11:58:06] 81 days sent an audio message: Yahoo!
[11:59:34] When is RV?
[11:59:34] Do we have date and rate
[12:00:15] TRC: its interesting why are so many people interested in smuggling IQD out of Iraq
[12:00:37] TRC: is it as good as gold, or just paper
[12:00:47] TRC sent an audio message: Clear Throat
[12:00:53] teledive: they know in country they can get caught easier
[12:01:26] teledive: outside it’s possible to move the exchange without questions
[12:01:28] 81 days: they read the same we do. its gonna become powerful.
[12:01:54] 81 days: Id rather cash mine in somewhere where I am not gonna be mowed over for it on the way to the bank.
[12:02:31] 81 days: we may even get some of that here in the states. If people will rob a bank for thousands, what will they do for millions?
[12:03:05] 81 days: you wont catch me in a line that is advertised to cash in dinars, like Ali of dinartrade. hes asking for trouble
[12:05:05] teledive: agreed…
[12:05:39] teledive: don’t trust dt or whatever his new company name is…
[12:06:15] TRC: will be private according to what I read
[12:11:40] TRC: you arrange a meeting in advance
[12:14:00] TRC: Angelina was in Kurdistan over the weekend
[12:17:42] 81 days: jolie?
[12:18:22] TRC: yes
[12:18:58] 81 days: hmmm
[12:22:08] TRC: did not bring her flock tho
[12:22:25] 81 days: lol posse
[12:22:46] TRC: she adopted another child a month ago
[12:22:58] TRC: must have like 8 kids now
[12:26:51] 81 days: Not sure If she’s raising these kids or her hired hands are assinged to parent them. Also not sure if pulling these little foreigners out of their natural surroundings for a life of luxury is the best for them. Heart may be in the right place, but rich people and money don’t make the best parents due to the fact that they have wealth
[12:31:01] 81 days: Told the wife that if there’s even a chance we could get pregnant, I’d either look into being a munk until she’s not fertile, Or id lop that dude off for assurance. No…. more….kids…… period. My sons are respectful responsible married men. the girls did me in.
[12:33:26] TRC: Ministry of planning announced new 5 year plan
[12:33:44] TRC: includes changing monetary policy
[12:34:01] 81 days: which area of site? dinar news?
[12:34:13] TRC: general
[12:36:10] 81 days: good positive read
[12:39:14] teledive: brings new meaning to the beattles song “long and winding road”
[12:39:44] TRC: good song
[12:43:35] teledive: lol
[12:45:32] TRC: talked about the reserves covering 1 1/2 times of currency in circulation
[12:46:08] TRC: IMF rules says they only need to cover 25%
[12:59:04] TRC: budget will be approved Thursday
[14:23:34] teledive: all they have to do is follow through with what they have said they will do…:)
[14:23:45] 81 days: pretty amazing
[14:23:59] teledive: yes it is!
[14:27:09] teledive: this time next week seems to be the ticket!
[14:27:22] teledive: hopefully it is Iraq
[14:27:24] teledive: :
[14:27:37] 81 days: do you think that there is seriously an RV 911 being implemented?
[14:27:52] 81 days: is there a pivotal happening, or is the news it
[14:28:23] 81 days: news looks pretty good, im just gunshy being in this for over a decade
[14:31:59] teledive: I think it is all in play…
[14:32:37] teledive: Iraq is in need to put this together long before now…
[14:33:00] teledive: for many different reasons and Abadi knows it
[14:33:13] teledive: maliki knew it as well
[14:35:07] 81 days: well, here’s to next weeks rv then!!!!!!!!!
[14:35:10] 81 days sent an audio message: Yahoo!
[14:35:23] teledive sent an audio message: Oh Boy!
[14:35:53] teledive: we seem to be on the outside looking in…
[14:58:42] TRC: whats new
[14:59:38] When is RV?
[14:59:38] Do we have date and rate
[15:00:24] ronnie: what do you think about the dinar [time to raise value]
[15:01:34] TRC: I think it shows where we are
[15:02:45] ronnie: I just believe we will see movement in the near future
[15:04:20] TRC: think so too
[15:07:51] ronnie: the way I understand it the CBI and the goi are together on this
[15:08:59] TRC: YES
[15:09:24] TRC: Abadi was formerly chairman of finance committee in parliament
[15:09:26] ronnie sent an audio message: Oh Boy!
[15:10:02] ronnie: that is good news
[15:10:51] TRC: :)
[15:13:07] 81 days: that’s good to know trc, always seemed that finance committee was most worried about security
[15:17:04] TRC: seems government and CBI are on same playing field