(LONG post found at cXc)
[BondLady] david id like to talk about taxes u wanna ?
[BondLady] iraqs tarriff taxes?
[BondLady] we know the independence holiday for iraq is tomorrow
BondLady] u still with me david?
dtmc] yes I am
BondLady] k great
[BondLady] lets start
[bigpuller] okay lets sit on hands please
[BondLady] so tomorrow is iraqs 4th of july
BondLady] actually july 14th big day for iraqis
[BondLady] independence day
[BondLady] so then tarriff taxes start by july 16th
Read More button on right
BondLady] that wont be such an independence would’nt it
[BondLady] if there was no rate change and they taxed them
BondLady] id be upset wouldnt u david?
[BondLady] get to typing mr. lol
[BondLady] i was gonna say this
[BondLady] about taxes
[dtmc] I honestly think they can use the USD
[BondLady] say an these are just examples [BondLady] but imo if they tax them i kinda felt like theyd have to have some fils aka coins also
[BondLady] they would need to make change [BondLady] say tax on 1 dinar is 5 cents
[BondLady] an the total came to 1.05 iqcd [dtmc] I think untill they have a moratorium on the USD
[BondLady] how can they make change without some coins
BondLady] k but if there de dollarizing how can that be david?
[dtmc] we are unfortunately faced with the grim option that for anything the IQD cannot do the USD can
[BondLady] i just think it would be to weird to have a cash register drawer with iqd an usa coins
[dtmc] The dedollarization has not taken place yet
[BondLady] but there gonna have to make change some how when they begin this
[dtmc] It has begun
[dtmc] the intent is there
[dtmc] but remember that IQD bill that is to be the equivalent of 100USD ? [BondLady] yes
[dtmc] the reason they are creating that is to aid the dedollarization
[dtmc] they cannot dedollarize until there are replacement notes for any USD on the market
[dtmc] look at it this way
dtmc] we have 1,5,10,20 and hundred
[dtmc] Int he process of the removal of the 3 zeroes Iraq will have
[dtmc] 1,5, 10, 25 Iqds and note valued to 100USD
[dtmc] the reason they stated they are bringing that 100USD value dinar note [dtmc] is so that any transaction that required 100USD to completed can still take place now instead with the IQD valued at 100 USD
dtmc] now here is the gem of the plan
dtmc] each time Iraq speaks of the value of the dinar in the 80s and 90s they speak of the supply being in the 500Billions
[dtmc] anytime they speak of today’s notes they are in the 27trillions
[dtmc] CBI intends to remove the notes with 3 zeroes
dtmc] and they instead will replenish the marketplace with the lower corresponding denomination
[dtmc] so when they remove 1 or 2 25000IQD they only put in 1 25IQD
[dtmc] they are thereby strategically lowering the money supply in circulation
dtmc] back to the billions
[dtmc] so the IQD could reach it’s former glory and that natural rate
[dtmc] does not hurt them seeing now they only have enough money in circulation to pay out 3 and 4 usd per iqd
[dtmc] Now back to the premise we began with which is that Lady is saying they need value to pay the taxes
[dtmc] I am saying they can use the USD untill we see the lower denoms
[dtmc] and that note equaling 100USD
dtmc] I guess the logical question one may ask is
[dtmc] what then can I hold on to a good sign the RV is here
[dtmc] well if not here at least the best of signs it seems is the dissemination of the lower denominations
[dtmc] When you see that happen then we are well on our way
[dtmc] The taxes and Tariffs is a watershed moment
[BondLady] id like to show u something real quick david
[BondLady] if thats ok
[BondLady] an get your views on it if u dont mind
[dtmc] Lady I think these payments is an indication that Sanctions may be a thing of the past
[dtmc] sure please do.
[BondLady] i think u may be right also
[BondLady] i think were all gonna be happy to see this
[BondLady] brb with it
[BondLady] Energy Committee approves draft Oil, Gas Law 13/07/2011 19:18:00 Baghdad (NINA) – The Energy Committee, headed by Deputy Prime Minister, Hussein al-Shehristani, approved the amendment endorsed on the draft Oil and Gas Law prepared by the Ministry of Oil. A statement issued on Wednesday, July 13, by the Deputy Prime Minister’s Office said, “The meeting was attended by ministers of Oil, Electricity, Science and Technology, Water Resources and Provinces’ Affairs. It added that, “The Amendments have been referred to the Council of Ministers.”
[BondLady] It is noteworthy that on the current July 2, Parliament’s Oil and Energy Committee demanded Parliament to issue instructions to delay concluding any new contracts related to the production of crude oil and natural gas, and to speed up enacting Oil and Gas Law to be a legal cover to any future contracts, whether by the Federal Government or the regions and provinces. It called on Parliament to vote on the necessity to comply by the Constitution’s articles with regards to contracts related to the production of oil and natural gas. It is worth mentioning that the Oil and Gas Law was among the important law that previous Parliament failed to enact it and had it sent to current Parliament. / End.
[BondLady] http://www.bondladyscorn ··· aw#11529
[BondLady] http://www.ninanews.com/ ··· Q=FHFMLG
[BondLady] so whatcha think of that mr david
[BondLady] thats the hcl being approved right?
[dtmc] It seems so
[gras] article 140
[dtmc] they are making great strides in approving the HCL and Erbil implementation [BondLady] art 140 is done already
[dtmc] brb going to read it quickly please
[BondLady] so if this is true
[BondLady] an if its true what i always believed
[BondLady] that we had to have a complete goi to sign off on the hcl
[BondLady] then we also have
[BondLady] maliki AND allawi show up both at parliment today
[BondLady] allawi whos only made 1 parl meeting this whole time an for only a few min
BondLady] then i might also assume they have set their gov
BondLady] but u also know what they say about people who assume things
[BondLady] so guess we better wait for the announcement
[dtmc] ok Lady
[dtmc] so here is where it gets tricky
[dtmc] The oil Committee just sent this to Maliki’s Cabinet ( council of ministers)
[dtmc] They will then pass it (hopefuly) [BondLady] k
[BondLady] that its come this far is amazing
[dtmc] then send it from Cabinet to Parliament remembering that Maliki is the one who sets the parliamentary agenda [BondLady] this is the closest thing to actually being at the door to pass the hcl that we’ve had
[BondLady] do they have to have the census completed first?
[BondLady] i wouldnt think so but in passin the hcl it delays givin the people the money tho right until after the census is complete?
[dtmc] I think the last census was in 06 or 07
[dtmc] they can use that until they complete this new one
[BondLady] cool beans david
[jennigirl] Census ‘must be carried out soon’ 10/07/2011 22:01 Baghdad, July 10 (AKnews) – A comprehensive population census must be carried out soon, the Minister of Planning said today. Ali Shukri, who also heads the Supreme Commission for the Census, told AKnews that the commission has fulfilled all the requirements for the census to be carried out. http://www.bondladyscorn ··· out-soon
[BondLady] sharistani it appears to me agreed with the amendments to the hcl right?
[BondLady] tyvm jenni
grashopa] that was the BIG stickler back in Feb….a real census….a real count…and the Kurds objected
[BondLady] because they left some of the kurds out
[grashopa] alot of them
[BondLady] an the kurds district is imo the richest of all of iraq for oil an gas
[BondLady] so its only right to make sure every woman, man an child get there rightful share of the hcl profits [BondLady] david?
[grashopa] and here we are in mid July….they…imo…have their count now
[dtmc] I agree
[BondLady] if its ok with u do u mind if we open it up for some Q&A?
[dtmc] yes sure
[BondLady] were open for Q&A
[BondLady] ty so much david for taking time out to do this with all of us
[dtmc] I wanted to say that Maliki is suggesting they use a scientific method (survey) to arrive at the number for expediency
BondLady dtmc ty ty
[BondLady] ty david
[BondLady] census is a number count of all the people in iraq ocu
[grashopa] David…are you a preponent of the Fractional Banking scenario? [peakdinar] I’ll wait my turn
[BondLady] peakers asks good an hard questions
[dtmc] grashopa: I believe it is being used today
[peakdinar] Ok, I read today that Maliki was at Parliament but he was there for a funeral and had no side meetings [peakdinar] and then Allawi was there as well to discuss the political situation [dtmc] However whether that could absorb Iraq’s 27Trillion dinars, No I do not subscribe to that
[dtmc] peakdinar I need that article about the funeral
[grashopa] ok…and to a degree…I agree……….so how do you feel about the USA gov’t being…in the oil business. [dtmc] I know Allawi went to decide his political future
[peakdinar] Wednesday, July 13, 2011 11:31 [Baghdad - where] Arrived at the House of Representatives on Wednesday morning Prime Minister Nuri al-Maliki. A reporter and the agency all of Iraq [where] that “al-Maliki arrived at the parliament building to attend a funeral and the father of MP Dhari Ali Fayad, who was held in the House of Representatives anniversary of his death.” He added that “al-Maliki after he had finished his presence left the comfort of the Council of the House of Representatives without any of the side meetings.” The President of the House of Representatives Osama Najafi is currently in Brussels within the visit of the delegation of parliament. The Sheikh Dhari Fayad, serves on the National Assembly and was the oldest member / 87 / years was assassinated in 2005 a car bomb targeted his motorcade, which also resulted in the death of his son and three of his bodyguards. He is son Dhari Ali Fayad is currently a member of the current parliament, a coalition of state law. ENDS – r
[dtmc] grashopa I know we are in the Oil Business big time. There are more oil licenses given out in the US even after the gulf spill
[girlygirl] dtmc you mentioned that only an intent on the de-dollarization so in actuality you do dont believe the process has begun?I have some personal news in that regard…
[dtmc] \peakdinar thanks for this, please pm me a link, I will like to post this with your permission.
[dtmc] girlygirl I think they have stated it
[peakdinar] http://www.bondladyscorn ··· es#11531
[dtmc] but I think the GOI has stalled in passing the laws needed that they may have stalled the CBI’s progress
[dtmc] they have not banned USD from market place yet no
[peakdinar] My question is does Allawi have a stronger foothold now that the Kurds support the vote for Defense Minister, and him for the policies position and now he has a stronger bloc [dtmc] peakdinar It seems so Peak. However Maliki will still end up winning. [BondLady] he always does
[peakdinar] dtmc that’s all i needed to hear….seems A was sneaky today meeting at Parliament
[peakdinar] just my non-trusting opinion [dtmc] I think Maliki will court and switch the Kurds with Erbil, 140 and hcl
[BondLady] because he knows what it takes to win knows the laws an iraq constitution forwards an backwards
dtmc] peakdinar yes, agreed
[dtmc] BondLady yep, he wrote it . one would hope he read it after
[BondLady] ty peaky
[woodywould] Hillary said this is all in Iraqs hands. do you believe that scenario, or do you think the holdup is the O admin.?
[BondLady] u betcha david
[BondLady] he knows every loop hole in it
[dtmc] woodywould I think she is right
[dtmc] I never seen the association of the US and the RV
[drc1947] dtmc 1000% AGREE
[woodywould] dtmc, thanks doc, Lady and David, and all!
[dtmc] the closest we got was J. Woolin helping them with their infrastructure and tax base
[RickeyT] chapter 7 done? Totally released?
[dtmc] RickeyT probably
[grashopa] may i chime in ??
[drc1947] grashopa PLEASE DO
[BondLady] not that i know of rickey not thats been announced yet imo but clues show us the possibility of it maybe imo [dtmc] we wait to see the official communication but have you heard anything about it since 06 15 11 ?
[BondLady] yes gh
[BondLady] no i havent david
[grashopa] do ya’ll really think that the US deficet….and the debt ceiling don’t play into this…?
[dtmc] grashopa: for it to play then you must believe the US have dinars. Can you prove we do ?
[grashopa] and the evermore tax code being rewritten…?
[grashopa] no sir…I cannot
[dtmc] Even if we have dinars is still not enough impetus for us to try running their RV. Bad precedence. Iraq may not allow it
[cricket357] Whats the possibilty of this thing going on until next year? And please explain how they can pay out all this money…. digital or not
[dtmc] cricket357 good question
[bigpuller] david …two days ago there was a very huge auction do you think it could have been the ld’s
[dtmc] I believe the RV can happen anytime. By that same token I must be prepared for anytime possibly being next year. That said, there seems to be too much in the water right now to not see the possibility of lower denoms within the next 3 months. If we do then next year is less likely and December to July 2011 is much more realistic. Never forget inflation and Shabs intent to reduce it when the currency policy can
[dtmc] additionalt cricket
[dtmc] I think the money supply must be lowered by pulling off the 3 zero notes at least some of them before we get to full strength. I know it sounds like a low rate like 1.1 but don’t be afraid of what truth might look like. just make moves based on it
[dtmc] bigpuller very likely [dtmc] I have no idea.
dtmc] if they are in the streets then yes it was but if not then no it was not.
[girlygirl] I was wondering about inflation and if david feels that there might be other ways Dr shabibi might be able to control it if no RV by end of this year
[dtmc] girlygirl yes there are two ways using the currency he can
[dtmc] without an RV he move back to largely using USD
dtmc] and 2) he can reduce the rate against USD to 1USD = 500 IQD
[BondLady] an that shoots there sovereignty out the door imo if they use usd
[dtmc] or thereabout
[dtmc] BondLady I agree they are less likely to do that
[deanwood] What does David think the next big steps have to be done to see the RV and does he see a timeline ?
[dtmc] Lower Denoms
[dtmc] 100 usd valued iqd
[grashopa] and they want to be a full member of the WTO
[dtmc] Pulling off 3 Zeroe Notes
[dtmc] next 3 Huge steps
[dtmc] My timeline starts when I see the first lower denom on the street
BondLady] it wont matter if the whole world had the new lower denominations if the iraqi people dont have them it wont mean a thing imo
[cricket357] Is it possible that they can say…. ok all the hight denoms are worthless and then just reissue lower denoms
[dtmc] cricket357 is it possible you can be president
[dtmc] But is it likely?
[nilabu] How quickly do you expect the process to be once the lower denoms hit the streets? Do you believe they are “at the banks” or “in the ATMs” as we speak.
[BondLady] its not like there havein another regime change they are bringin there curranccy up to date the way things stand now the 000 are of no help to them an what they seek to achieve
[dtmc] nilabu I do not believe the Ldenoms are in banks nor ATMs
dtmc] nilabu I think the lower denoms will take 7 to 10 days to be introduced
[nilabu] dtmc BondLady and what does your timeline look after that?
[frtlnrblues] A certain party here has been facebooking with quite a few Iraqs in conter, they are saying that the small denoms have been out since 04, but don’t use them because they are worthless? What is your take on that
[dtmc] nilabu then I do not know how long before giveing value but should not be longer than a month or so
[BondLady] we dont do rv dates nila
[BondLady] frt the 50 is a ld an it has been out since 2003 but thats not the ld which we are lookin for
[dtmc] frtlnrblues it is not enough to say Lds has been out seeing they 50 and the 250 has been and they are lower denoms too but have they had the 1,5,10 and 25 Iqd notes ?
[frtlnrblues] that don’t know, just that the lower have been out since 04
[BondLady] its the 50 i have some too
[lightingcslt] dtmc date and rate please
BondLady] but were lookin to find the 1,5,10, etc
[dtmc] anything more is not considered ld here
[BondLady] up to the 100
[BondLady] then that would have to be untrue then frt
[dtmc] lightingcslt Wednesday July 13th 2011 2.25PM 1usd=1175IQD
[BondLady] because they have to be talkin about the 0 notes
[BondLady] the 50 25
BondLady] the others have not been released trust me we would know
[bye the sea] I heard on a call there was a July 15th deadline for full assenscion into the WTO, if true, do they need a tradeable currency for that date?
[dtmc] bye the sea Sorry I did not see that written anywhere or repute, if all you heard it on was a call then it may just not be true. Give them till November december 2011 for WTO. it is possible they are permanent members and not yet announced it but I do not think so
[bye the sea] Thank you.
[grashopa] now that you have had time to think about it
[grashopa] what about the USA being in the oil business
[grashopa] and spending that 4.5
grashopa] who they(US) going to sell it to ??
[grashopa] the private sector??
[dtmc] grashopa US sells oil to other countries
[grashopa] as a company??
[dtmc] grashopa yes. give me 24 hours I will send you papaer work on it
grashopa] sorry…jus something that has stuck in my craw
[grashopa] so cool sir…tyvm
[dtmc] grashopa welcome
[dtmc] send me email please to email@example.com
[dtmc] Peak ??
[peakdinar] David, you say lower denoms are not at the banks or ATMs and it would take 7-10 days for them to be distributed
peakdinar] But you and BondLady firmly believe they’re ready to be distributed, correct?
[peakdinar] so the process of getting them to the banks and ATM’s won’t be a big deal
[dtmc] peakdinar, I do not think they are at Banks or ATMs yet. and yes Shabs said 7 – 10 days
[peakdinar] dtmc so they’re ready to go in the Green Zone?
[BondLady] i do believe there ready peaky just not distributed
[dtmc] peakdinar I believe the CBI have them stored in each of the 4 central banks
[peakdinar] that’s all i wanted to hear you two say…thanks much
[ogg] would not have to revalue before they distribute them otherwise what’s the sense?
[dtmc] ogg I do not think they will revalue the currency first. but that is a personal opinion. I cannot back that up with a link suffice it to say if you piece Shabs last articles together you have a likely scenario
[bye the sea] Do you think the tarrifs which are to be implemented on the 15th will cause the currencey to become tradeable ahead of the new taxes? Will they need to RV it as a result?
dtmc] bye the sea great great question. we will have to wait and see
[player46] Did I understand you correctly saying they can pay tariffs with USD? And the USD has not been dedollarized yet? Seems we are a ways off on revalue. Sorry, don’t mean to be a downer..
[BondLady] they are still usein usd for big purchases
[dtmc] player46 last question Bond
[dtmc] player46 No we are not
BondLady] np david i appreciate u very much sir
[dtmc] we rush the Brush and we get dabbed [dtmc] but it is not Iraq’s fault.
[dtmc] the stage is set
[dtmc] let the drama naturally unfold
dtmc] we assume they are dedollarised
[dtmc] but if they were then they will not make that 100USD valued note
[dtmc] Much love all