10:10 AM [AMG55] Good Morning 8ball
10:10 AM [8ball] hi
10:10 AM [8ball] No big auction
10:11 AM [8ball] just regular size
10:11 AM [AMG55] Thanks as always for all of your posts...
10:11 AM [8ball] np
10:11 AM [AMG55] Yep. Noticed that...
10:11 AM [8ball] It can mean that they already bought the IQD
10:12 AM [8ball] and the DFI money replaced the CBI reserve
Read More button on right
10:12 AM [AMG55] WEll, just not sure what to think anymore... They seem really good at not doing what is agreed to or expected.... Beginning to think it must be part of their culture which we will probably just never understand.
10:12 AM [AMG55] Well, hope so
10:12 AM [8ball] Maube it tales a few days to get their mits on it
10:12 AM [8ball] Maybe
10:12 AM [8ball] Takes
10:12 AM [AMG55] hahaha
10:13 AM [8ball] We have until July 5th
10:13 AM [AMG55] One of your articles says they are STILL fighting over the defense minitries!!!
10:13 AM [8ball] when the IMF Lipsky is replaced
10:14 AM [8ball] Well Allawi will be coming back to Baghdad tommorow
10:14 AM [8ball] to settle things
10:14 AM [AMG55] I guess... But, why do you think the IMF replacement might be significant.... Only because she is from France and France has a preety big interest in this thing too?
10:14 AM [AMG55] pretty*
10:14 AM [8ball] Maliki will present the security ministers tommorow
10:15 AM [AMG55] I am not holding my breath....
10:15 AM [8ball] They are also passing the retirement law tommorow (code for RV is my guess)
10:15 AM [AMG55] I hope it is our "retirement" package too!
10:16 AM [AMG55] Especially from having to try to figure them out.
10:16 AM [8ball] Also the law for duty's and taxes is being held up until July 15th
10:17 AM [8ball] This is where I get the 2 weeks out from
10:17 AM [AMG55] Frustrating.... Probably more for you than me as I know you have followed this more closely than myself even.
10:17 AM [8ball] I'm ok
10:17 AM [8ball] This is like Christmas coming
10:17 AM [8ball] you can't push it ahead
10:17 AM [8ball] you have to wait for it
10:18 AM [AMG55] ???? You think they will be discussing the dutys and taxes and then have to read the three times?
10:18 AM [AMG55] Good thing I am such a patient woman!
10:18 AM [8ball] Its away of offsetting the cost of the RV
10:18 AM [8ball] It has to be in place
10:19 AM [AMG55] Ok, I am sorry , I didn't follow that "offset" thing?
10:19 AM [8ball] there is a significant ammount of foreign investment in Iraq
10:19 AM [8ball] the tax is to pull back some of the revenue through taxes
10:20 AM [AMG55] And wy two weeks if they are holding off until Tuesday? Again, 'cause they need to readi it three times or something?
10:20 AM [AMG55] oh, ok.
10:20 AM [8ball] I think they are still negotiating debt
10:20 AM [8ball] Saudi's, Kuwait etc
10:20 AM [AMG55] BTW, I think they can only tax if the "investors" are making money... ;-)
10:20 AM [8ball] IMF and World bank are helping them
10:21 AM [8ball] could be what Strauss Khan wasn't doing
10:21 AM [AMG55] hmmm... Ok, hope they all work it out "soon"
10:21 AM [8ball] By removing the debt Iraq can support a higher rate
10:21 AM [AMG55] He is a socialist. I would think "taxing the rich" would be right up his alley!
10:22 AM [AMG55] But, I do think he appeared to be set up!
10:22 AM [AMG55] I said that from the day it happened.
10:23 AM [8ball] Well Strauss Khan wasn't supporting Iraq in the debt reduction area
10:23 AM [8ball] IMO
10:23 AM [AMG55] I C -- could be... And I know there has to be more to this than any of will probably ever really know.
10:24 AM [8ball] Debt/Income/DFI/Global accounts
10:24 AM [AMG55] So you think Allawi is coming back to give Maliki "round 45"???? Or a round of 45s??? haha
10:24 AM [8ball] Global accounts done
10:24 AM [8ball] DFI done
10:24 AM [8ball] Income from oil done
10:24 AM [8ball] debt reduction......... open issue
10:24 AM [AMG55] All sounds really promising.
10:25 AM [AMG55] I thought many countries had forgiven Iraq's debt?
10:25 AM [8ball] Security ministers tommorow........... open issue
10:25 AM [AMG55] China? US? France?
10:25 AM [8ball] Saudi's are 25 billion usd
10:26 AM [8ball] Kuwait is about the same
10:26 AM [AMG55] So the Saudi's haven't forgiven Iraq's debt?
10:26 AM [8ball] not that I hae seen
10:26 AM [8ball] have
10:27 AM [8ball] They can only drop to 80% as per the PAris Club
10:27 AM [AMG55] Well, again, I thought Kuwait had been paid quite a bit and has the "promise" ( not that it means mush from them!) to continue to receive 5% of oil revenues?
10:27 AM [shedco] 8ball what is the meaining of the 100,000 dinar i am hearing about
10:27 AM [AMG55] much*
10:28 AM [8ball] Kuwait has been paid some but not all
10:28 AM [8ball] shedco --- well I heard but not concerned
10:29 AM [shedco] OK
10:29 AM [8ball] I expect Iraq to send things out like that
10:29 AM [8ball] You have to stand firm in your beliefs
10:29 AM [8ball] otherwise I will get a headache
10:30 AM [AMG55] If true, I think it would just be a government to government or bank/ treasury kind of thing shedco
10:30 AM [8ball] I choose to ignore anything coming out of teh CBI
10:30 AM [8ball] they can't tell us the truth
10:30 AM [8ball] As far as when
10:30 AM [8ball] and whether it will RV
10:30 AM [AMG55] Well, I did sort of trust Shabs.
10:31 AM [AMG55] I guess it was a mistranslation
10:31 AM [shedco] I got it thru the MRIguide.com Is that from CBI
10:31 AM [8ball] They have to pacify the people of Iraq carrying napsacks around of dinar
10:31 AM [AMG55] Perhaps I took too literally
10:34 AM [8ball] Iraq: The Central Bank is planning to issue 100,000 dinars notes, and probably 50,000 dinars too. Presently the largest note of 25,000 dinars is worth USD21.45 at the spot rate. In the long run the idea is to re-denominate the currency by chopping off three zeros. (Courtesy Wolfgang Schuster and rferl) ..............................................................25JUN11
10:34 AM [8ball] So pre RV numbers
10:34 AM [8ball] take three zero's off and what do you have ?
10:35 AM [8ball] 50 IQD bill
10:35 AM [8ball] 100 IQD bill
10:35 AM [shedco] wht is good about that<
10:35 AM [8ball] They need those denominations
10:35 AM [8ball] to be functional
10:35 AM [AMG55] From what I understand our next thing to watch is ForEx sites at about 5:00PM today Yes, 8ball... Now if they can just not have the three zeros and go straight to the $50 and $100!
10:36 AM [8ball] tahts right
10:36 AM [8ball] but in order to talk about it now
10:36 AM [8ball] they send out a smoke screen
10:36 AM [8ball] to cover any leaks
10:36 AM [8ball] IMO
10:38 AM [AMG55] Well, gentlemen I have to get to work around the house... I always appreciate your insights 8ball! Thanks! Have a great day and a great 4th if I don't chat with you before! That's for all of DV too!
10:38 AM [AMG55] BBL!
10:38 AM [8ball] You have a good one to
10:38 AM [8ball] BBL
10:39 AM [AMG55] Thanks!