Chatroom log Sunday

October 22, 2012

in Speculation

[12:14:13] TRC: they have been busy studying the books of CBI
[12:14:35] design: ok , have not read it all yet
[12:14:43] TRC: books look good except there is some discrepencies
[12:15:01] TRC: CBI and Iraq is in great shape
[12:15:15] TRC: some money is missing tho
[12:15:21] design: thats excellent to hear
[12:15:27] TRC: will see how this evolves
[12:16:12] design: someone got there fingers in it
[12:16:40] design: at least cbi looks good
[12:18:23] TRC: that may change if CBI can explain what is the issue
[12:19:12] design: ok
[12:19:46] TRC: lots on shabibi
[12:19:50] TRC: news
[12:20:15] TRC: parliament mps are busy talking to media from every party
[12:20:37] TRC: mostly telling maliki hands off
[12:21:12] TRC: :)
[12:27:43] design: good
[13:33:11] TRC: He noted that “the subject delete zeros not being discussed now that the new management of the Bank currently focus on rearranging foreign currency auction and ensure no smuggling of funds or the sale of the dollar amounts not eligible thereafter will jump to other important central projects.
[13:33:28] TRC: current governor of central bank quote
[15:27:08] hALEy berry: think shabs will get his job back?
[15:27:23] TRC: dont know
[15:28:42] TRC: books look ok, so far,
[15:28:54] TRC: auditing continues
[15:29:29] TRC: one article said that 8 billion dollars is missing over last 9 years, but may turn up
[15:30:53] TRC: one article said books look good iraq is in good shape financially
[15:31:17] hALEy berry: US has billions missing. not sure if anyone had to answer
[15:31:24] TRC: from finance committee I believe
[15:32:01] TRC: well numbers total, 200+ billion haas went thru CBI since 2003
[15:32:20] TRC: all accounted for
[15:32:28] TRC: mostly anyways
[15:32:33] TRC sent an audio message: Laugh
[15:33:37] TRC: just the way , this was handled, they must took from sadam’s guide how to run a country
[15:33:45] hALEy berry: sure hope this gets handled this week, and shabs is pi$$ed
[15:33:47] TRC: :-D
[15:33:53] hALEy berry: lol
[15:34:30] hALEy berry: after the way he is being accused and treated, id like to see him come back and raise the rate and tell the to “deal with it”
[15:34:40] hALEy berry: tell them
[15:37:38] TRC: getting closer
[15:39:09] teledive: I’m thinking a week from tomorrow
[15:39:36] teledive: from in lieu of rom
[15:40:16] TRC: I like the news although, shabibi had to go thru some tense moments, it all looks good
[15:40:50] TRC: iraq is sitting pretty right now financially
[15:41:20] teledive: you got to love a man that has the nerve to tell a leader not today
[15:42:27] TRC: yes
[15:43:10] TRC: many mp’s were speaking sunday , on behalf of independent bodies in country
[15:43:16] TRC: and cbi
[15:43:27] TRC: telling maliki hands off
[15:43:43] teledive: that is good
[15:43:57] TRC: this stuff happens when parliament goes on recess
[15:44:13] TRC: last recess something happened too
[15:44:23] TRC: cant recall off hand
[15:44:34] teledive: I thought they were on recess till nov 6th
[15:44:42] TRC: yes
[15:44:45] teledive: go figure
[15:50:57] TRC: they talked about deleting the zeros today
[15:51:58] teledive: no way I missed that
[15:52:03] teledive: that
[15:52:48] TRC: new governor of cbi
[15:53:16] TRC: he said as soon as auditing is finished , he will discuss that
[15:55:06] teledive: oh in other words soon ..lol
[15:55:19] teledive: just kidding
[15:55:54] TRC: they have been real busy by looks of it
[15:56:15] TRC: they have completed alot of the audit all ready
[15:58:26] teledive: that is real progress ;Iraq is aware they have to do something it seems to come down to a power struggle ilel Maliki
[15:58:52] teledive: i.e. ilel
[15:59:29] TRC: they are ready financailly
[16:00:25] TRC: just need political solidarity, especially now, with shabibi , sitting on unstable ground
[16:00:55] teledive: then day by day can’t see past the end of the year (worst case)
[16:04:08] TRC: this new governor may back up everything shabibi has been doing
[16:05:12] TRC: and maliki loves him
[16:05:16] TRC sent an audio message: Laugh
[16:05:33] teledive: love the laugh
[18:41:25] bigjake: any more on shibibi
[18:41:45] TRC: the current governor of CBI said he will discus deleting the zeros right after audit is complete
[18:42:17] bigjake: another lay over
[18:42:22] TRC: looks like audit is almost completed
[18:43:12] bigjake: do you think maliki wants the credit for the rv
[18:44:01] TRC: if current governor thinks everything is fine yes
[18:44:40] TRC: so far early news on audit, says iraq is in good shape financially
[18:45:14] TRC: some money is unaccounted for but , they still working on it
[18:45:35] bigjake: that was a set up
[18:46:00] TRC: well new governor is maliki’s man
[18:46:25] TRC: if he thinks things look good, we should be good to go
[18:46:39] bigjake: yes he is looking for anything out of the way
[18:46:52] TRC: everyone wants rv
[18:47:10] bigjake: Oyea
[18:47:28] TRC: they just want to make sure nothing is missing
[18:48:15] bigjake: you think shabibi will be back
[18:49:26] TRC: should be
[18:49:44] TRC: so far dont see any wrongdoing
[18:51:21] bigjake: good
[18:51:47] TRC: we are getting closer
[18:52:02] bigjake: I think so too
[19:00:04] TRC: they are ready in My opinion , for this rv
[19:00:20] TRC: just got to do it
[19:00:40] bigjake: I think so with all the news I have read
[19:00:59] TRC: IMF says they are in excellent shape
[19:01:08] TRC: now a surplus country
[20:34:06] MadMax: ok……jus w8n to see how things pan out in Iraq
[20:34:34] shrier: I leave for a week and Shabbi get kicked out of CBI.
[20:34:44] MadMax: Maliki must go.IMO
[20:35:24] TRC: mps are climbing on shabs bus big time today
[20:35:33] MadMax: he is dictatoriously screwing Iraq and the peeps
[20:36:01] shrier: they need to He’s the only one there with any brains.
[20:36:10] TRC: must be ten articles different mps
[20:36:18] MadMax: he needs to take a dirt nap…like Saddam
[20:37:23] TRC: quote
[20:37:28] TRC: Dr. Sinan Mohammed Rida Al-Shabibi, in our opinion is one of the best economic efficiencies Iraqi who returned to serve the nation and is now a target by some leaders in the state law, some of whom belonged to him after he was employed in the organs of the previous regime.
[20:41:40] TRC: Published (long) text of the memorandum filed by a group of personalities to President Jalal Talabani and to state institutions executive, legislative and judiciary and the presidency Kurdistan region and all the media condemning the campaigns of defamation against the central bank governor article Dr. Shabibi
[20:42:10] TRC: thinks shabs going to get hero’s welcome home
[20:42:14] TRC sent an audio message: Laugh
[20:42:25] TRC: :-D
[20:42:33] shrier: Hope he does
[20:42:44] TRC: maliki going to be embaressed
[20:43:49] shrier: He needs more than embaressed
[20:47:33] shrier: I’m like MadMax, Duh bro got to go
[20:49:24] TRC: right now maliki’s man is checking the books
[21:16:05] xeno: what do you think about iqd now ?
[21:18:35] TRC: now
[21:22:19] TRC: now, we still waiting
[21:22:40] brown sugar sent an audio message: Oh Boy!
[21:24:20] xeno: do we have a hope for this month ?
[21:24:30] TRC: yeah
[21:25:18] TRC: auditing of the books by interim governor of cbi and committees, is almost completed
[21:28:05] xeno: any base on it if we have a hope ? because in my opinion if their dont have a problem they always delay or postphone
[21:28:26] xeno: but now they have a lots of problem, shabibi the main
[21:28:54] TRC: new governor of cbi said today he will discuss deleting the zeros after audit is finished
[21:29:47] TRC: committee members taking part in audit said today iraq is in great shape, from looking at finances of the books in cbi
[21:31:12] xeno: do you think the new governor will make faster than shab ?
[21:32:16] TRC: I think if books are good , after audit , I think we good to go
[21:35:30] xeno: ok …tks for your explainations
[21:36:46] TRC: it is looking like shabibi may get hero’s welcome home
[21:36:53] TRC: when he comes
[21:42:00] xeno: because of he have make good report of cbi’s books ?
[21:42:47] TRC: many politicians in parliament are complaining, and giving him their support
[21:46:30] xeno: i am afraid if shab and turki not in one line
[21:48:44] TRC: rv is needed no matter who is there
[21:54:52] xeno: yes they do
[21:55:13] xeno: if the not rv they must increase the cash bloc
[21:55:33] TRC: yep
[21:55:49] TRC: gdp is growing faster every day
[21:56:20] TRC: if they increase cash bloc value of one dinar is difficult to increase
[21:56:42] TRC: its a vicious circle
[21:57:02] xeno: yes
[21:57:05] TRC: they want to increase value
[21:57:13] TRC: :)
[21:57:39] TRC: they have asked cbi to do so repeatedly
[21:57:56] TRC: still waiting
[21:58:10] xeno: dont try he 1:$1 if they want to make 1: $3.2 because many speculate play in dinar and keep it until $ 3.2
[21:58:42] TRC: it will be difficult to come out higher than 1-1
[21:59:04] TRC: the iraqi economy needs to be more diverse
[21:59:14] TRC: it is based on oil
[21:59:45] TRC: they are exporting almost 3 million barrels of oil now per day
[22:00:25] TRC: in 1979 , the exchange rate was 3.20, iraq was exporting 3.4 million barrels of oil per day
[22:00:46] TRC: but oil only made up about half the gdp
[22:01:26] TRC: iraq had factories and big agricultural base , exporting many things to gulf countries etc.
[22:01:51] TRC: so I think 1 dollar or abouts is best value to start
[22:02:23] xeno: ic…
[22:02:33] TRC: iraq is planning on exporting 3.4 million barrels per day in march 2013
[22:03:00] TRC: will surpass iraqi historical records next year on oil exports
[22:04:13] TRC: agricultural industry is growing rapidly in iraq
[22:04:29] TRC: like everything else
[22:05:07] xeno: 3.4 million in 2013 ? is that means they will going to $ 3.2 ?
[22:05:10] TRC: gdp growth rate forecast for 2013 is 13+%
[22:05:44] xeno: dont sale all your dinar if 1:1 done lol
[22:05:55] TRC: no, they need to increase the rest of the iraq industry output,
[22:06:10] TRC: might take a couple years
[22:06:47] TRC: in one article it said quite clearly 2014 could see the iqd rise above parity with usd
[22:07:03] TRC: maybe before
[22:07:20] TRC: we should set our sites on 1-1
[22:08:25] TRC: welcome back jake
[22:08:33] bigjake: hi yal
[22:09:32] bigjake: is the news still good
[22:09:52] TRC: not much new since you in last
[22:10:00] bigjake: ok
[22:12:04] bigjake: maybe tomorrow we will see some better news
[22:12:21] TRC: liked what I seen today
[22:14:44] bigjake: what was the best news article today
[22:14:54] TRC: watching tv show, it just said, the more paper you print , the less value its worth
[22:15:05] TRC: ;)
[22:15:19] bigjake: cool
[22:15:27] TRC: another reason, rv , is needed
[22:16:21] TRC: next year , they need to increase cash bloc by an estimate of 13% , to keep pace with growth of economy, if there is no rv in iraq
[22:16:46] TRC: will be difficult to increase value of currency
[22:17:19] TRC: right now there is about 34 trillion iqd
[22:17:34] TRC: next year will be 40+
[22:17:42] bigjake: wonder which would be easy rv or print more paper notes
[22:17:46] TRC: by 2015 , 50 trillion
[22:18:20] TRC: the value will decrease not increase for each dinar
[22:18:35] TRC: iraqi officials want rv
[22:18:47] TRC: they have said this repeatedly
[22:19:04] bigjake: I think so too
[22:19:11] TRC: when you increase exchange rate you decrease cash bloc
[22:19:29] TRC: its double edged sword
[22:19:45] TRC: increase value of banknotes
[22:20:10] TRC: :-o
[22:20:44] TRC: what they are arguing about is political power, not economics, in My opinion
[22:21:20] bigjake: I think it will happen very soon with milkiki man in there
[22:21:53] bigjake: money is the power
[22:22:09] TRC: after years of war, nobody trusts anyone
[22:22:43] bigjake: thats why money talks
[22:23:58] bigjake: if you have money you will have the power you need to get thing done
[22:24:21] TRC: greed
[22:24:44] bigjake: biggest thing now
[22:26:30] xeno: is that true that cbi now in govt side ?
[22:27:20] TRC: not according to parliament
[22:27:59] xeno: ok
[22:29:12] TRC: IMF too,
[22:29:27] TRC: CBI is supposed to be independent
[22:30:32] TRC: shabibi cannot be removed, unless by a vote in parliament
[22:30:49] TRC: or found guilty of a crime
[22:31:29] TRC: turki is temporary governor
[22:31:39] xeno: is shab supported by imf and un ?
[22:31:52] TRC: while he is there they are auditing the books
[22:32:15] TRC: yes both have announced their support
[22:32:33] xeno: thats good for us….
[22:34:52] TRC: they say arrest warrant was issued, but deputy governor of cbi has been working in his office, every day
[22:37:12] xeno: your info make me more relax than before trc, thanks
[22:38:01] TRC: its all in the posts
[22:38:05] TRC: read up
[22:38:37] xeno: ok tks
[22:39:01] TRC: media does not always release accurate news, take a few articles before you see if its true
[22:39:59] TRC: many times an article in news will be denied next day
[22:40:28] TRC: so it takes a few days to see the real truth
[22:40:56] xeno: yes thats why make me so confused.. some time i dont know where is our positions as investors of dinar
[22:41:30] xeno: its like passenger ships were hit by waves
[22:41:39] TRC: shabibi told kuwait news friday , he would return to baghdad in next two days
[22:42:01] TRC: still waiting
[23:01:36] xeno: so they have 9 days to audit the book ?
[23:01:59] xeno: do you hear about the budget 2013….they said make a long time to approve it
[23:02:32] TRC: budget should be ready this week to send to parliament
[23:03:08] TRC: kurds agreed on it sunday, met with iraqi ministry of finance
[23:04:46] xeno: ic…
[23:06:13] xeno: I honestly lost all the news about the dinar iraq since heard shabibi be arrested …
[23:06:33] xeno: it feels so hopeless
[23:06:37] TRC: took a while to soak it up
[23:07:42] xeno: yeah
[23:13:32] TRC: I was shocked too

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