BulldogFord65 wrote on September 26th, 2013, 2:44 pm:
As Frank has told us, raising the value of their currency IS the keys to their shackles. The IMF gave Iraq permission to raise the value of their currency, and lifted CH7, but Iraq failed to do it; they were give a second chance and failed again as well. While CH7 was lifted, they still have not been given CH6 -- this is their shackles.
They had the keys -- the ability to raise the rate -- but they threw away the key and clapped the shackles back on themselves -- no CH6.
Because they did not raise the value of their currency when they were given the opportunity, it will be done when the IMF/AoP/PTB determine it will be done.
Iraq still plays a role in that they must pass appropriate laws and have their banks ready. However IMO those things have either been done, or are not deal breakers for the RV.
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IMO, all of the necessary laws and banking preparations are done and ready to go (hence Iraq is not in control), IMO the only things left undone are not deal-breakers for the RV, they will simply complicate matters for Iraq's short term growth and foreign investors.
AzProf wrote on September 26th, 2013, 3:34 pm:I think theres more to this than meets the eye. If Iraq is given the green light to RV but they dont and then we take it away, then why dont we just RV?
Yet we havnt so I must believe that Iraq had the green light, yet they had things to do still before they could RV. Most likely things like the O&G law, election law, pension law, etc. I think they still have the green light but have now been given a drop dead date where the laws needed will be passed as the IMF and UNSC see fit.
Or, the current standing law becomes 'the law'. This suggests to me that the Kurds will be able to bypass Central according to law and will be responsible for their oil contracts. When VP Khuzai gets back, I think they have 1 final chance to pass laws.
They will most likely pass laws that arent truly good for the country in order to be in control- but hey, we just passed the health care bill which may just be the worst piece of legislation ever for the people of America.
BulldogFord65: Hello AzProf:
I agree, this goes much deeper, but IMO, the result remains same. If we go back to Feb/Mar of this year, we were given to understand that the plan was to roll out the 198 currencies in 5 baskets -- if my memory is correct, I believe 3 major baskets and a couple of small baskets.
If this plan would have been implemented, there would have been time to bring ForEx, banks, stock exchanges, regulations up to speed globally in a step-wise fashion -- sitting to crawling to walking to running.
Because Iraq did not RV when they were given opportunity to do so, we now need to go from sitting to running in one movement, hence the preparations are a bit different. Bringing on all 198 currencies with one push of the button is a different animal than rolling it out in 5 baskets over a few months.
IMO, Iraq has passed all the necessary laws, but they are not yet implemented. I believe there are likely other desirable laws that need finalizing, but they are not deal breakers for an RV.
IMO, the reason the button has not been pushed yet has less to do with Iraq and more to do with the logistics of implementing a global currency reset with one push of the button rather than rolling it out step-wise over a few months.
Just my opinion, and still a very simplistic summary of a very complicated issue. Wishing you a blessed day!