11:35 AM CST:3sIntel [BWM]GOOD MORNING VIETNAM... AND OTHER COUNTRIES AS WELLIt's been really quiet this morning still due to restrictions over there but I'd expect information to come out soon... I really would like to know what was said in the "closed door" session with Maliki...
wisewarrior] Do you think this June talk is smoke?
[BWM] wisewarrior that is based on the chap 7 discussion... simply the rv doesn't need 7... we need to see a goi in place which we know is complete
[Kord] julissa But only 10 of the 22 leaders showed up. Although they may have sent representatives.
[BWM] Kord Actually no... only 10 countries showed... the only head of state was the Emir from Kuwait
[Kord] So, what do you think is the significance of that? Or, the consequences? In your opinion of course.
[BWM] Kord - Like I said yesterday... I didn't think the timing with this summit was as many expected so I'm still hopeful we see what we were hoping to see come out today once the blackout allows more information to come
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shalala] Someone asked earlier. If it RVs, but not released from Ch 7 yet, will it be considered "internationally tradable" by banks yet, or do they have to really happen together?
[BWM] shalala - They can have a tradeable currency with limited restrictions... the main concern for international is the terrorist list which was removed much later than originally thought... so in my opinion I believe certainly if they RV the trade
restrictions are gone
[Brightlight] But we are talking about Iraq and many other countries... its not all about Iraq... just sharing my thoughts here
[BWM] The simple solution is this... every time we see an event or something we seem to place way more importance on that in relation to the RV.... Brightlight you are correct but it's still "their" currency that is driving this so at some point we need their little puddle of oil to cooperate
[BWM] Talked to two of the Big 4 banks and there is nothing stated about closing
currency departments this afternoon...
[$ay_its_over] BWM - I'm so confused...... I thought the RV was out of Iraq's hands. Now it is back to them.... I am so lost, who the heck is pushing the button? Thanks
[BWM] $ay_its_over - As much as this is about the "world" it's still their currency...
[BWM] Currency Newshound is a blog... not a validated news source
[broncofan] What are your honest thoughts on this global revalue? truth or smoke?
[BWM] broncofan there will be many rv's as we have seen from Burma announcing their revalue on Sunday
[BWM] broncofan I don't see it as a "complete" reset... but the revalue of that currency and others to higher rates will affect the global economy in such a way it will seem that way it seems.. also the real "reset" is the forgiveness of debt from countries to countries
[BWM] starfish well at some point it will be posted on the UN site and on other currency sites for validation
2bbl2] Aren't the countries that forgave Iraq all their debt getting a little upset with this game of theirs?
[BWM] 2bbl2 - It's not just Iraq's forgiveness of debt.. it's other countries with agreements for debt forgiveness between themselves also...
[BlessedinAZ] I am the last one to be a spoiler but doesn't the UN Security Council have to vote for Iraq to be out of Chapter 7? Moon cannot decide that on his own I believe.
[BlessedinAZ] daniandquin1 that would have to be in a public UN document.
[BWM] BlessedinAZ - He can lift things to an extent... but yes the final lifting must come from a vote from the full council
[spicegirl] BWM... and when might that be?
[BWM] spicegirl BlessedinAZ but what's to say that vote hasn't already taken place based upon the completion of certain criteria