Delta is on the call. Delta greets everyone.
Over the weekend, the financial ministry committee with Shabibi and the Central Bank before Shabibi comes to the US. There was some kind of meeting behind closed doors about the dollar rising against the dinar. Shabibi was asked to do something to combat this very quickly to increase the value of the Dinar. He did promise them back in the prior articles that in the coming days. Over the weekend they came out to say it in Arabic, Delta says it in Arabic what was said on TV; they have promised that they are going to do something to increase the dinar’s value. There is a lot of talk on TV about this.
There was a big huge meeting with the IMF meeting on 19th and 20th. Dr. Allsawi (Financial Minister) and Dr. Shabibi were in the US; they stopped in Switzerland and Delta’s CBI contact informed him of talk going on inside the CBI that Shabibi took with him some very, very important documents. We don’t know exactly what the documents were but we know what has been transpiring of late. The Basel Central Bank is there. They came all the way to the IMF, in the US, the US Treasury, Shabibi and Financial minister had a behind closed doors meeting.
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A couple videos came out over the weekend, posters asking for translation. Delta says that what was being said, were things the Team26 already knew about. But basically there was a big meeting; it’s a big deal in Iraq. Every other day there are big meetings behind closed doors with the Financial Committees. Remember there is a Financial Advisory committee of Parliament and the Cabinet Financial Advisory committee also Shabibi is on the board.
The National Coalition did meet over the past 48 hrs. They are going to support Maliki with confidence but also with conditions. The main condition is to not get involved with independent agencies. There is a lot of talk surrounding removing confidence from Maliki. Delta wishes to remind us to remember that it’s very hard if not next to impossible to take away and vote for no confidence with regard to Maliki. You see the NC has more seats than the Iraqi List. They are the ones that have to choose. Even if they want to take away confidence in Maliki the 2nd guy has to come from the National Coalition; but all are in agreement that they are going to support Maliki. But Maliki has to fix several issues surrounding trying to control independent agencies which will not happen.
Meeting between Kuwait and Iraq for meeting today, not sure right now, no confirmation whether it has occurred or not but just to let us know over the last 5 or 6 days that the Emir of Kuwait, his son, is in charge of a lot of issues in Kuwait and in Kurdistan right now, with big investment group from Kuwait there to work out plans and have announced today they will invest in agriculture and factories in Kurdistan. Whether meeting took place already or on the 29th everything is looking great and is nothing but good news.
Iraq airlines announced that for first time in many years to start chartering flights to India now. This is very huge news. Good indications of where things are moving.
Now they need to sign a letter between the two ministers from Kuwait and Iraq to confirm everything with the UN to witness and will go to the UNSC and Kuwait will say yes to remove Iraq from Chapter 7 – we believe that this is going to happen. There is a lot of progress being accomplished on this front.
News on TV that on May 11 the EU and Iraq will sign contracts agreements to investment heavily in Iraq. It took 2 ½ years to bring this deal together.
Just to let us know that it’s not yet published but Obama has signed the EO that extends protections over Iraq’s funds in US. Central bank and financial minister were successful to get another year of coverage over the funds. This is very good for us. We should see articles soon.
An article the last two days came out from Dr. Shabibi; they are definitely independent and will stay that way but need to work and coordinate with the GOI. The government was seeking to control them but will not happen. There was a big meeting with NC to confirm that Maliki will not control the CBI.
Shabibi also said that lifting of the 3 zeros will see the light on Jan. 1, 2013. Now, he did not say the revalue would take place in Jan 2013!! There are two definitions. The currency will coexist with time limit. Jan. 2013, the citizens will have 2 years to co-exist.
Couple weeks ago article about the exchange rate will increase gradually from time of lifting the zeros and then be controlled to come to 1:1 and on up or whatever. So now, we know something has got to happen. It’s a big problem in Iraq with the Black market. The going rate is 1300 dinar on Black Market right now. Since there are few lower denominations the citizens lose 30 dinar from the 1270 rate. There are no 20 dinar notes. The citizens are force to give up 30 dinar to make transactions. Kurdistan announced again today the value on the Dinar is dropping.
Delta mentions the scenario he brought forward from several months about the dinar start with a value around .10 cents. It’s very possible he says. Delta told Frank today that a few months ago Delta has several people he talked to and Delta still speaks with a business gentleman he knows and is a friend in Iraq. At the time Delta didn’t take it so serious what his friend told him but he mentioned that sometime in May the CBI will increase value something around nine or ten dinars per dollar which is around .09 or .10 cents. Delta didn’t take it seriously. No one knows the rate. But Delta thinks perhaps this could play out this way.
Iran and Syria have a lot of Dinar. If the CBI starts and comes out at .10 cents, those countries will have no choice but to cash in their Dinar. That is a lot of money for those countries. It’s one way for the CBI to get a lot of dinar back from surrounding countries. Remember they can come out at .10 cents and not release lower-denoms right now.
A lot of pressure right now and talk about them not doing a very good job and really have to do something as soon as possible with their monetary reform.
Delta does believe Shabibi is back in Iraq now from US. Maliki is back also from Iran. All big shots are back in Iraq. We all know that the IMF changes the currency of Iraq at the end of April historically but we have to wait and see what happens. Possible we might see something? Yes; possible to not see anything? Yes as well. But Iraq cannot continue to wait to do this says Delta. He really believes highly based on all Intel right now we might see something this week. There is a lot of pressure to do something right now.
By the time of Jan. 2013 we should at least see the dinar at 1:1 with the dollar. Not rumors, but the CBI has said they will increase the value gradually. Even if we have 8 months, it’s a win/win for all of us.
Delta’s opinion regarding Ali’s opinion, while Delta respects Ali’s opinion on this, he feels that Iraq cannot wait much longer to revalue their currency. They have to do something about it.
Delta takes some questions now.
Frank says considering the meetings over the weekend; Frank asks Delta if he feels that Maliki is in a much better position with the government and Shabibi is feeling more comfortable with the GOI and they are both getting along better. The CBI is waiting for the GOI now aren’t they? Yes, says Delta overall they are doing better overall; they need their assistance. They are waiting on approval from the GOI to move forward. This is a joint effort. They need to make sure everyone is happen and everything is in place; otherwise problems can arise later on. Shabibi is waiting patiently for the GOI to get their act together. Confidence is rebuilt with Maliki says Frank. There is progress between them. The CBI is ready and waiting to raise the value. Delta says Shabibi also mentioned they have to remain independent otherwise the GOI can print all the money they want and this cannot happen. But Maliki was there when they put the constitution together so he know exactly what is in the constitution and how it works.
Bluestar poses a theory; as we get closer to the revaluation time; we would see increased disinformation put forth. Does Delta think that information disseminated about votes in Parliament taking place in July and various scenarios being protracted of late are going to be at odds with the CBI’s monetary policy efforts and be part of a disinformation campaign?
Delta says no. Shabibi has said they don’t need approval to lift the zeros; they already have it and have been working on this since 2004. When they came out with the new constitution they gave the CBI the power to issues new currency; raise the value of the Dinar through monetary policy controls. Parliament has no right to cancel the CBI moving forward.
Delta reminds us that IF a country lops; that is the only time a central bank would need the approval of the government and that of the IMF for that to transpire. A lop is not happening in Iraq so they don’t need the approval to change the monetary policy. They need the coordination and approval to move forward.
The CBI is working on putting out the new lower denominations, removing the 3 zeros currency and they don’t need approval to do these things. If it was true about Parliament getting together to vote in July to remove the 3 zeros and they don’t lift the zeros they will never see their currency become internationally tradable. This is one of the requirements by the IMF for Iraq to move forward internationally. The IMF has told Iraq specifically that we will support your economy 100% and they will be internationally recognizable as long as they perform one of 3 things and 1 of them was lifting the three zeros. So are you saying that the Parliament doesn’t understand this and they would come and vote against this? If they vote against it, then guess what, then nobody can ever trade dinar. Would that even make sense?
Bluestar interjects that if they voted against it it would go against a “greed” motive which seems to be prevalent. Members of Parliament are certainly well vested in Dinar and that would run counter to them voting against it. It just appears that a lot of what we have seems to pose as a disinformation campaign, but we wonder what kind of campaign is this that has been going on?
Delta explains what has been going on and why the disinformation is that the Parliament doesn’t know exactly what Shabibi and the CBI is doing. Remember the CBI is not obligated to tell everyone what they are doing. Once the monetary policy is approved they cannot go backward. Shabibi has said they cannot go backwards. They have to be able to trade internationally. They have to make their currency internationally recognizable. There was some confusion when the GOI asked the CBI to wait a little bit. They did not ask them to cancel moving forward.
Delta explains that when he and Frank were talking, the CBI told everyone that in Jan. 2013 they were going to start lifting/deleting the zeros. If that is the right date to do it, then why did the GOI ask Shabibi to hold up? To stop? Why ask to stop if its 8 months down the road? Unless there is something going on behind closed doors and Shabibi is about to do something…like release the lower denominations and coexist, remember, the money has to coexist together and then the CBI has to set the date. So it looks like date that the CBI is going to start is Jan. 2013 but that doesn’t mean the CBI is not going to introduce the lower denominations in 2013.
Bluestar agrees but it seems with a guy with the level of knowledge that he has and also as an insider and a potential bank within Iraq, he must have to know something of what is going on inside Iraq. Bluestar isn’t saying he’s right, but it seems like what he was saying was disinformation if what he is saying is incorrect.
Frank wouldn’t say it’s necessarily disinformation. Ali presented this as his interpretation of “his” intel.
He (Ali) said he believes, being respectful, Frank and his team’s opinion on Ali’s intel opinion is…
Delta jumps in and say he respects Ali a lot, this is what people told him over there, but remember… Delta explains the reason for the disinformation is that not everyone knows what the CBI is going to do. Only those who need to know.
Delta says the 3 or 4 meetings before Shabibi came over to the US, the financial committees, the advisory committee from the Cabinet, the Parliament and the CBI to go over what they quickly need to do before they came over here. Let’s say Ali’s information is correct. Inflation is 8.2% in March as they say. What happens when inflation rises to 15%? Does Shabibi have to wait all the way to Jan. 2013 to enact the raising of the value or wait for Parliament? You are missing a point, the CBI, if you go to the site and look up the CBI laws, in there it says that if the CBI reaches a “red line” they can step in and enact measures to raise the value or whatever is necessary to save the value of the dinar.
Secondly we know that the UNSC wants to lift chapter 7 from Iraq. If you lift Chapter 7 you have to have an internationally recognizable currency to be removed. It’s part of being removed or graduated to Article 8. So, are we saying that Iraq doesn’t want to trade internationally with their currency? And they have to wait for Parliament to vote for that? Delta reiterates to remind us that they can immediately come out at .10 and not release any lower denominations. They can utilize what they already have, the 25, 100, 200 dinar coins until they have the full set of lower denominations ready to release.
A lot of people have contacts. But no one knows the date or rate. Remember this is classified information. The prime minister doesn’t know when the CBI will do this. To prove that he sent a letter to the CBI 2 or 3 weeks ago saying, hey, you have to tell us what you guys are doing over there.
So, if Maliki knew the date and rate, why would he send a letter asking what the CBI is doing with their monetary policy? That means he doesn’t know. The CBI can explain to them what they are doing, but no one can tell them what to do.
So, the problem is right now the market is getting very bad. Believe it or not, there have been some who are committing suicide in Iraq due to the decline of the exchange rate. They killed themselves due to the worsening of the dinar exchange rate. If you are getting 200,000 dinar it’s not even $160 US and they try to go buy something likely food, and they have to give up an extra 30 dinar because there are no lower denominations…this is a lot of pressure on the people, especially the poor.
Delta is bringing what is told to the Iraqis on TV. They agree that they have to increase the value of the IQD. Not sure of what or when they are going to do it. But the increase has to come up; lifting the 3 zeros is a totally different thing. The CBI needs no approval and this is going on to show that. The only thing they need is coordination with the GOI. Shabibi has said this, Saleh has said this and even Parliament has asked Maliki to not interfere with the CBI. Shabibi can come out right now and say he’s going to do it right now and no one can say differently.
Bluestar asks in conjunction with what has been said here, the question that is out there is, if we get to a certain stage would Shabibi and would this whole situation; two part question; 1) is there in Delta’s mind there any potential with Shabibi not to do this? 2) If that is not the case, if he doesn’t do this, at a certain point the people that are out there will become so infuriated they may be calling for pressure on Shabibi. Where do you see those two scenarios?
Shabibi already knows the pressure; he has the education and experience and knows exactly what he is doing. He’ll do it when it is the right time. Don’t think he doesn’t know what’s going on.
Delta says good bye and jumps off the call.
Frank admonishes Delta with accolades and goes on to clear up some issues that are affecting folks on the forum.
Frank says that Delta pretty well told us everything.
Frank explains that what Bluestar was trying to ask and was the “opinion” of Ali about the GOI in July taking an internal vote to determine whether or not they should bring in the CBI to be a part of the GOI; in other words so that the GOI could control the CBI. That is dangerous for our investment.
The opinion that Frank and his Team do not share; is saying that his information has led him to believe that if they do the vote, if they pass this, that 70 – 80% would vote against allowing the three zeros to be lifted. It is his opinion that the GOI does not want to add value to their currency at that time. This is NOT Frank’s opinion regarding this; Far from it.
Frank respects other people’s opinions and to respect it is to make this statement and leave it at that and not allowing it to become an echo on Frank’s forum thread. You cannot imagine the phone calls that have been pouring in.
Pose you questions to where the question emanated and leave it at that. Please.
Do you believe that Frank believes that the GOI is going to force, by law, the CBI to become a part of the GOI so that they can then control the CBI and the countries monies and not allow them to raise the value of the currency? NO.
Do you know why? For example; on yesterday’s thread; it says the National Alliance imposed conditions against Maliki to keep it on the Prime Minister’s seat. What does that mean? Basically this is saying that the most prominent conditions are not to be linked with the Central government and not to allow for interference with the work attempting to be accomplished. This is the government saying guys, leave Shabibi alone and do not interfere with his work.
In the same article it states that Maliki has agreed with all conditions. Didn’t Shabibi put conditions on him? And because Maliki has agreed to all these conditions within the last few days; in the coming days we will see renewed confidence in him.
Do you now understand why Frank has his opinions and why others have theirs?
The CBI is telling the GOI to not mess with Iraq’s money and currency. Don’t even think about it; got it? They did and now the confidence is being renewed in Maliki and Shabibi comes right back out and what does he say? Now that Maliki has his confidence; this is what I want to tell you. I reaffirm; I re-promise that we are going to raise the value of our currency. Wow! This is why Frank cannot agree with certain people.
Remember when Frank told us they took a chunk of money and sent it over to the banks in the US. Remember what it was for? Then Frank defended himself when some other person on another forum challenged Frank’s opinion that that wasn’t what the money was for. Another person’s opinion on this other forum claimed that no, that wasn’t what the money is for; Frank is wrong. Frank said really? No he’s not. Call me if you wish. If you dare. Frank’s not going to waste his time.
How about an article that comes out today stating what “little S” Saleh comes out to say that their money will be protected again for the last time. What? We are protecting Iraq’s money again? What for??? Money from CBI placed in US banks is a cover for the Iraqi currency. Not subject to being frozen so that it may soon serve its purpose! They last thing the CBI is worried about is the GOI because they are working with the US to protect their monies.
You can’t make a change in the constitution just like that. You can’t have Parliament come out and say that the GOI has passed the laws so that the CBI will now all of a sudden become a part of the GOI and be controlled by the GOI. That’s a constitutional amendment. A simple vote is not going to bring that about.
There is no stopping Shabibi…GOI…other people’s opinions…Shabibi is making it very clear what he is doing. It’s befuddling that other people interpret Shabibi’s actions…differently; especially the exaggerators.
Another thing today we see the son of the Emir of Kuwait, he is going to Kurdistan to solidify investments; this is big because they are being a little by shy about it. Kuwait has set the example for 5 years or more. All they have to do is follow in the same footsteps of the Kurds and they would be so advanced in this. For Kuwait to convince the Kurds to invest in Baghdad because Kuwait is brining over 50 companies to invest in Baghdad. This is good; because we strongly believe that last month on the 15th when Maliki went over and talked with Kuwait, we already told you what he told them. They have a basket full of money. That’s why we don’t hear from Kuwait anymore. In fact they are likely saying GET R DONE! LoL
Now if we see the Kurds, because they are basically in control of what goes on in Baghdad, the Kurds are in control; if we see Kuwait convince the Kurds to invest in Baghdad…OH MY! Frank will be VERY happy!
But Frank…the articles, even the one today saying this won’t happen until 2013…??? What won’t happen until 2013? The lifting of the three zeros? The introduction of the lower denoms? Or the redenomination of their currency? Hmm. Which is it?
Shabibi made it very clear that within the few coming days. That definition… you have to expand it. Over there that doesn’t mean “in a few coming days” like it does here. What’s after days? Weeks. Good. With that said, and with what has happened over the weekend between the GOI and CBI and the CBI being pleased about it; Let us know see if Shabibi comes back out into the lime-light. The ball is in the court of the Parliament, the GOI. Frank recaps the past few months’ actions between GOI and CBI. Now today Maliki’s confidence is renewed, how do they go from hot and cold so quickly? Then Shabibi here’s what happens and says ok, you know what…I reaffirm and re-promise that we are moving forward with revaluing our currency. Don’t worry about that other non-sense. Be careful of whose opinion you rely on.
Hey Frank, are you going to invest in Iraq? He already did. He bought Dinar. Are you going to invest in Iraq stock market? Nope. Frank you have a video in your Premium site about it. Are you going to invest in anything else beside the Dinar? No. But Iraq is a new frontier? There are many frontiers here in America, especially in the medical field. But Frank… What? Are you sure? Should we invest back into Iraq? If you want it’s your business. Why don’t you want to invest in Iraq Frank? The last ten years has taken a great toll on Frank waiting for this investment. And he has a team! No, Frank will move on from Iraq post RV.
Bluestar wants to clarify with Shabibi. Increased scrutiny with the CBI and where they are with the monetary reform. Is there pressure over Shabibi to get this done or not do this until told to? But knowing what Frank has been saying that if it doesn’t get done the people will rise up and go ape? Is there some external force coercing him to do this or to not do this as there will be consequences?
Frank replies; who’s pushing Shabibi…we are, the USA. This is Frank’s opinion…we are working with Shabibi to create the monetary reform which is ending Phase 1(3) and startup Phase 2(4-5), the last phase. No one is pushing Shabibi. Shabibi is pushing the GOI and Maliki because he is standing there waiting to do this. Frank believes they have no idea what they are doing. They are a fledgling democracy. One cannot expect things overnight. It is Frank’s opinion that Shabibi is working with the Authors of the Plan to make sure the monetary reform comes out perfect. To make sure that it comes out perfect is to make sure that the CBI and GOI are in coordination. We are seeing this evidence. Last month we see this literally in headlines. There is great coordination between the two of them now.
Now 2nd question…what if he doesn’t do this? Well then it would be because the Authors of the Plan have told him sorry you cannot pull the trigger right now. It’s not the right time.
Frank is of great confidence that Shabibi is ready to do this right now. He was ready last year to do it. He has been waiting on the GOI. It is the GOI that is constantly working to get where they need to be. Now Kuwait and the Kurds are happy with Baghdad. They want to see Chapter 7 removed.
Bluestar asks is it possible that the GOI is not really the holdup but those heavily vested and it would benefit them to have this done sooner rather than risk jeopardizing this coming to pass. No says Frank. Give Frank ten years and he could fill his coffers just as well. I’m in no hurry to raise the value if I was a government official. If I’m a government official I would blame the CBI is doing something illegal to steal money from the GOI.
Bluestar asks that will we reach a day of critical mass within Iraq if something doesn’t change and the proverbial carp hits the fan. Frank says that’s like asking for a date and rate. Bluestar rephrases his question to ask for a potential month or zone or marker point where discontent would be overwhelming.
Frank will answer with an update on security. Remember the end of Jan. the 28th Frank was concerned if they didn’t accomplish this by the end of the Muklah Frank would be concerned that the citizens would protest. Around March 14th or 15th updated that May concerned him because there were two requests to protest. But here we are in April and they have been somewhat tolerant. A few things occurred and the Arab Summit went over relatively well. So will next month be of concern? Guess what. We don’t see any requests for protesting. We think the citizens are being careful with how they deal with the GOI because they know they are about to do something special for everyone. The know Shabibi is ready and they are now watching, waiting and counting on the GOI.
Last Monday, Frank had the original Delta came on and he gave a report of a contact he had, a translator who would complain how he was not happy with the GOI but all of a sudden he calls his friend and with all he sees on the TV and hears from talking with others he is now happy with his government. He affirms that what he was told by his friend, he says he was right about the value of the currency will go up very soon.
Are the people being patient because they here the good new being repeated continually on the TV?
The people have learned how to survive on their own terms until the government is ready to support them. They put their hopes in the Central Bank, into Shabibi. He is their hero; and he will be when he restores their pride in their country and in themselves.
Memphis asks the latest word from Iraqiya TV. Frank says they are still repeating much about the soon coming rising value of the currency. Not as much as last week over the weekend but still it is repeated a lot. The dynamic is still going strongly just not as strongly as last week.DONE !