Ok, here we go, first forget about political posturing for me on this. Don’t sweat Maliki, Talabani, Sadar, none of that. Take that equation out of the formula for just one minute.
Let’s look at finances, and only finances that are in print, not the news, like someone telling a news paper, “ we are going to strengthen the Dinar against the US Dollar” ya whatever, you have all said that from over in the sandbox for 2 years, I take that as Bla Bla Bla
Trust me this has a point.
Ok Iraq has a budget in place pegged to both the US dollar and the Dinar, in the current rate. Iraq has only (X) amount of dinar, but continues to sell for the US dollar. People in Iraq continue to use the US dollar because why, it’s a world renowned currency, It can be used anywhere, Where can the Dinar be used,? Kuwait and Iraq, that’s it, all funds for import and for sales are in US dollars. All Oil sales are in US dollars or Petro dollars.
Read More Link on Right
Petro dollars are US dollar based. So they are trying to bring in the Money supple to revalue their Dinar. But they keep selling it off, the black market thrives on the US dollar, selling dinar in Iraq at rates that are crazy. Stay with me, this is going places
Ok now the IMF issued a SBA or a “Stand By Arrangement” ……………………………………………………..Two-year Stand-By Arrangement (SBA) in the amount of SDR 2.38 billion (about US$3.8 billion), approved by the IMF's Executive Board on February 24, 2010. The IMF's Executive Board completed the first program review on October 1, 2010, and the second review on March 18, 2011, bringing the total resources currently available to Iraq under the arrangement to SDR 1069.56 million (about $1.7 billion). At the time of the second review, the program duration was extended by five months to July 2012, along with a rephasing of program disbursements based on a shift in financing needs from 2010 into 2011……………
Please note this sentence…………” At the time of the second review, the program duration was extended by five months to July 2012,”
Just to be clear, in no way am I claiming the RV was to have taken place 5 months ago, or that it will in July. I am telling you that things have been put off as they always do in Iraq.
Please read this………………..
The key objectives of the current SBA remain the same as in past programs—the preservation of macroeconomic stability, and the adoption of policies and measures to ensure sustainable growth and poverty reduction. This is not working, poverty and unemployment is at a staggering all time high.
So what does this all mean, Time is running out on Iraq, at a very rapid and staggering pace. Dr. Shabibi spoke last January speaking of lower denoms and higher denoms working side by side starting “BY” September.
So now the UN security council will be meeting and Iraq will be part of their agenda, don’t look at the chapter 7 issues, look and the conditions of Iraq and what actions can or will be taken if they cannot (Iraq) give good reason as to why the situation in Iraq still stands the way it does.
Ok as for the call I was waiting for , here is the information I received. Dr. XXXXX in Washington, who has a doctoring in political and financial science, Explained to me the situation has taken several turns in the last year, (the dinar revaluation) even with so called news reports, it is evident that Iraq has failed to bring the country as a whole into a international status, a strong point of that is a devalued currency that has no financial bearing on anything. They are part of many different groups but have yet to cross the bridge into the WTO, and won’t be seeing that ascension any time soon. The failure of the Iraqi government to accomplish some of the smallest things has not gone unnoticed. Oh I know you see People like Christine Lagarde praising Iraq for all they have done, Or Obama doing the same thing, the only ones you will see chastise Iraq is the UN security council. They have no qualms about telling countries what time it is.
With the extension of the SBA coming to an end and no further extension in site, that coupled with Dr. Shabibi’s notes, it appears this situation is finally coming to a head. One way or the other, The Dinar will have to revalue or the IMF who hold the purse strings to Iraq could very well revalue it for them on advice from the UN Security Council. This is not my opinion, but the Opinion from a man who deals with these types of situations on a daily basis. ……………………….
I apologies as I have no information pertaining to Pings, alga rhythms, Madam Wu, Geithner, Bernanke, O, aliens, Bank screens, Cash outs that have taken place, or the three little pigs, that’s up to you to look at