_[Fresh] AZGhostHunter Good Evening - I want to Thank everyone for joining us
[AZGhostHunter] Fresh good evening
[Fresh] Let's start off with some news and go from there...
[AZGhostHunter] para~investigator can you pull up the Arab summit article
[para~investigator] Good: the Arab summit meeting before or after does not constitute a difference in its success, the most important is the good intentions The spokesman for the Kurdistan Alliance, a pro good to hold the national meeting of the Arab summit before or after does not constitute a difference in the success of the meeting of failure, because the success of the national meeting is dependent on the goodwill carried by the leaders of political blocs participating in the conference Al-Tayyib, told all of Iraq [where] that the convening of this meeting needs to create and preparations and to the agenda agreed upon by the political blocs, saying we are with to take the time to create this atmosphere in order to come up with positive results and important is the fact take place and resolve differences.
[para~investigator] He asked earlier to hold the national meeting before the summit and resolve internal differences in order to have a positive image on Iraq, born nations participating in the summit, pointing out that the political process need to be mutual trust between the political blocs and if found will not see the process of political stability in Iraq. And that there are significant problems that we have, take a long time to resolve it between the blocks to participate in the national meeting, adding that in the previous Alajtmaat sensed something positive by the masses to resolve outstanding differences and end the current crisis
Read More Link on Right
[para~investigator] It was scheduled to hold political blocs its sixth meeting on Thursday at the home of Vice President of the Republic Khudair Khuzaie to unite the working papers and requests from political blocs but delayed because of the preoccupation of Representatives hearing on approval of the financial budget for 2012, which lasted until ten o'clock pm. The head of the Liberal parliamentary bloc, Bahaa al have guessed by [where] to postpone the national meeting after the Arab summit to be held at the end of March, attributing this to the Preparatory Committee needed more time in resolving their work set the agenda for the national meet.
[AZGhostHunter] Thanks para~investigator
[AZGhostHunter] ok, this article is, in a roundabout way, buying them some time to get this natl meeting done... I really do not think that they will wait until after the arab summit. I will stand by my prior statements and say that Iraq does not want to go into this summit with worthless currency
[AZGhostHunter] and remember… the natl meeting is to get all the political sides issues worked out. thats the whole point of it. they will NOT be wasting the time of the arab summit to squabble over these things
[Fresh] Good point AZ - Let's not forget the point I've been raising about Iraq setting up the domino's behind the scenes with a lot of the agenda being put into place as needed.
[Fresh] For example, we hear hints of "HCL" with allocations of oil revenue to citizens in the budget. Again I think this all hinges on the CBI making the final call and I think we have a good article about that to talk about...
[Fresh] Para you have the CBI article about counterfeit curency you can bring in for us? TY!
[para~investigator] coming up
[para~investigator] Central Bank: the counterfeit currency is a media statements 28/02/2012 06:56 PM Baghdad: Detect Iraqi Central Bank Governor of the Bank during the coming period to cancel the zeros of the Iraqi currency in order to absorb the inflation of the Iraqi market as well as reducing the size of the Iraqi currency currently in circulation is an existing project will see the light in the coming days after the completion of it, pointing out that there is an integrated study on the matter and in the final stages of discussions, the decision was taken and must be submitted to the relevant authorities for the purpose of legislation by the House of Representatives and the Council of Ministers.
Dr. Shabibi in an exclusive interview with (the people) shall be published later that the removal of zeros from the Iraqi currency at the moment was inevitable and will contribute to facilitate the work of the government and Atathirat real current economic situation, stressing that it will be canceled three zeros from the current currency will be printed six to seven categories of a new Iraqi cash.
Shabibi said that the central bank supervision and the role of Sergeant on the performance of all government and private banks and is also evaluating its performance on a regular basis which improves the performance of the banking system.
And his view of the federal budget, which passed last week Shabibi noted that it's budget ambition and budget execution properly is the one who will create some sort of supply and which will therefore reduce the rate of inflation happening in the country and not to influence the economic stability and needs to be an act of solidarity significant of all.
And the size of the money presented by the Central Bank in the Iraqi market, said the governor that he was more than 150 dollars Mellon on a daily basis and are purchased by the government and private banks and is subject to constant monitoring and supervision by the Central Bank of Iraq.
On the other hand denied Shabibi the existence of any negative economic impact on the spread of counterfeit currency in the local market in Iraq, noting that the issue of counterfeiting, was given a size bigger than true to size, explaining that the process of fraud are almost non-existent in the market and there was a fraud he is by people specific and does not affect the money supply in the domestic market in any way and that the bank has the financial capacity of the enormous and that through which it can influence a course of the domestic market, saying "We are preparing the largest player in the domestic market and control the course of events in economic terms, and I confirm that the currency issue false statements to the media is just to change my actual facts and not on the ground and have no real impact on real perspective.
[Fresh] AZ I'll weight in first on this - HUGE Article for sure!
[AZGhostHunter] no problem
[Fresh] I really like the phrase "in the coming days" makes you grin doesn't it :-D What I like about the feel of this article folks is it's from the Central Bank of Iraq and quoting Shabibi - not these pesky economists articles that always have an opinion on "something" that usually contradicts the CBI's previous position.
[Fresh] I read this article more as Shabibi saying - hey we are getting ready to issue the new currency which will ease the concerns for counterfeiting. On the other hand, he also is stating look - I don't see this as a problem - I think the news is blowing it out of proportion. The good thing is he seems to have conviction in what he is sharing with us to the final stages of this plan!
[Fresh] Also knowing the higher denoms will be phased out - he is playing down the risk of the counterfeiting
[AZGhostHunter] ok ready?
[Fresh] AZGhostHunter you got it
[AZGhostHunter] I agree with you about the coming days part. However my favorite part of the article is ""We are preparing the largest player in the domestic market and control the course of events in economic terms, and I confirm that the currency issue false statements to the media is just to change my actual facts and not on the ground and have no real impact on real perspective." Beebz is pretty much telling us that the media if full of it. and did you notice that he said that they are preparing the largest player in the domestic market? I really get a good feeling from this article, as he is saying that they are about ready to go with this.
[AZGhostHunter] he is putting it out there IMO not to listen so much to what people are saying and watch the actions
Najafi will travel to Kuwait to participate in the
meeting of the Arab Parliamentary Union
Leave the House of Representatives Speaker Osama al Baghdad on Sunday, heading to Kuwait on an
official visit at the head of a parliamentary delegation high.
A statement by the Ngeevi Thursday that the visit comes to participate in the activities of the eighteenth meeting of the Conference of the Arab Parliamentary Union to be held in Kuwait with the participation of heads of parliaments of the 18 Arab countries
[AZGhostHunter] ok I'll go first... and I will be short and sweet on this
[AZGhostHunter] Najafi headed to Kuwait, Maliki headed to Kuwait, Conference of the Arab Parliamentary Union in Kuwait. I think that Kuwait is the place to be next week. Looks like they want to get things settled.
[AZGhostHunter] Fresh you have any thoughts about this one?
[Fresh] I think it's a done deal with Kuwait, has been for awhile... Sounds like a chance to shake hands, kiss babies, and say - remember all that money we've paid and all those agreements we have signed off on - well now it's time for Iraq to get out of Ch 7 with the United Nations
[AZGhostHunter] right. I think we are getting there folks... just dotting the I's and crossing the T's
[Fresh] AZGhostHunter exactly - putting the last dominos together behind the scenes for the grand finale in front of the world
[Fresh] AZGhostHunter I got one thing I want to bring up ... it's kind of random but worth mentioning
[AZGhostHunter] Fresh, go for it
[Fresh] I thought about it earlier Today looking around
[Fresh] Okay so I checked the Un Operational Rates of Exchange found here:
[Fresh] Notice Iraq was last updated Mar 1, 2010 - exactly 2 years ago Today...
[Fresh] but why is that interesting?
[Fresh] Well for starters, it still shows the program rate of 1170 - not 1166 that was changed a few weeks back... Interesting right? Lets remember they don't need to advertise RV's in the UN OP Rates of Exchange... again - could be nothing but thought the anniversary was worth a grin!
[AZGhostHunter] Could be something there
[Fresh] AZGhostHunter Let's get to some Questions we have from chat - but first I want to remind everyone about the Race to 10K Thread...
[AZGhostHunter] there ya go
[Fresh] If you have not yet posted in the "Race to 10,000 members" Thread we are closing entries to it Friday 3/2/12 at Midnight EST. Be sure to post here:
Two lucky people will win 10k notes courtesy of Fresh and PeopleInvested.com
[AZGhostHunter] all you have to do is go to the thread and add a small post and you are entered... we will close the thread down tomorrow night at midnight
[Fresh] AZGhostHunter I'm good on my end
[AZGhostHunter] ok Im good too man...
[Fresh] WE ARE OPENING Q&A DON'T FLOOD ALL AT ONCE GIVE US A MINUTE OR TWO TO RESPOND
[Msbossydiva] I want to know if we are going to be taxed once we go to cash in
[AZGhostHunter] Msbossydiva we will all have to claim our dinar once we cash in. the IRS will get their cut. but if you are asking if the banks will take it out... I dont know that will be the case
[Msbossydiva] Ty AZ
[MzTique] banks don't collect taxes they fill out paperwork
[passionflower] so what do you feel is left to do prior to the RV, of course knowing some could be done and not announced yet
[AZGhostHunter] passionflower erbil, hcl, ministers... still
[st002121] Ok.... now and then I see questions on the website about "non interest bearing accounts". Asking others on the site, few seem to know anything about it. I ask the banks and they say no value to them and not at all necessary. Can you elaborate?
[AZGhostHunter] st002121 I will say this. when we dont answer questions like that, it is because we are not financial experts and do not wish to give anyone wrong information. best to leave that to the professionals
[belabun] st002121 look up the FDIC for their information, will answer your questions.
[hopefor4] Fresh orAZGhostHunter Thanks for the articles. You know I find details in the small stuff. Are we concerned that SHabbibii said he was dropping the zeroes to stop inflation. I hate to even say it, but that sounds like a dirty word named LOP?
[AZGhostHunter] hopefor4 not going to be a lop. don't panic. and keep in mind the translation. we lose a lot of the context
[tkdgirl] I'd like to ask a general question -I've been in this 'investment' for a while - how is it that this dinar RV is not all over the news??
[AZGhostHunter] tkdgirl simple, we, the little folks, are NOT supposed to be in this investment
[Fresh] tkdgirl the news has done very poor reporting on the Dinar and the RV - they often down play it to other currencies that are heavily devalued relative to the dollar... they compare the worst country often with Iraq...
[Fresh] it seems they are almost on a gag order and in talking with contacts over the extent I've been in this business I have learned of stories/rumors to that degree for what that is worth
[MzTique] sounds like we're getting closer1
[st002121] Got it.... but respected individuals on the site are making strong recommendations to others that this is absolutely necessary. Just a concern. Thanks for taking my question.
[AZGhostHunter] st002121 I have seen people giving their opinions on this, however, they are just opinions. I have always said to consult your financial professional
[passionflower] how do you suppose we will actually know that this rvs and I do not mean a guru calling it every day like they generally do
[Fresh] passionflower it will be on the cbi.iq website and also will be confirmed on our website and in chat room - our regular members will tell you this is a very good place to stay grounded with all these wild predictions coming daily from the "guru's"
[AZGhostHunter] passionflower look at the cbi site cbi.iq and if you see it there, its a go, if you dont, its just another prediction
[GodsNature] think we will RV before the Arab Summit?
[AZGhostHunter] GodsNature nobody knows for sure... but as I have said before, I will start looking for the RV again after the natl meeting and before the arab summit. not calling it, just saying that it looks like a good window to me personally
[hopefor4] GodsNature I agree with AZGhostHunter. and remember we have september as a backstop because that is when new denoms are suppossed to come out
[GodsNature] thank you for your answer...think it would be important to have value to toilet paper to meet with Arab Brothers...
[AZGhostHunter] GodsNature good point
[horsegal023] When is the Nat'l meeting?
[AZGhostHunter] horsegal023 still no set date for it yet. Aggravating isn’t it?
[Able2Rest] Could the reason for Iraq revalues being on March 1st for the last 6 times have anything to do with setting the Tariffs, as is only done on a yearly mark? and the Arab Summit has to have all their ducks in a row to even show up, as they can not go without value to their currency, and needs to be able to trade, as well as prepare for the new businesses comming into Iraq?
[Fresh] Able2Rest I'd take a stab at that but I'd be speculating - also we had a caller remind us that Iraq had a payment due Today - I believe - with the IMF for the SDR
[Fresh] did anyone get any updates on that - I know we had a thread going about it?
[MzTique] yes we got it on your last call
[spiritdog] will you send all of us members an email when it RVs?
[Fresh] spiritdog yes - also we will close the registration for the Atlanta Event as soon as it RV's for security reasons - I'll have Browning do both things at the same time
[Jersey] National meeting before or after the arab summit?
[hopefor4] Jersey hopefully before. it is the meeting to get ready for the meeting. you know
[AZGhostHunter] Jersey I think it needs to be before
[GodsNature] Think the Nat'l Mtg has been done...in secret...
[AZGhostHunter] GodsNature that would be great
[Jersey] hpoe4 gotcha thanks.
[spiritdog] Az Fresh tyvm
[Fresh] AZGhostHunter or what GodsNature just said - I agree both ways!
[MzTique] Fresh please comment on why you think the RV may be lower than what we've been seeing ie. $14.00 etc
[Jersey] Az thanks
[Fresh] MzTique sure - give me a second tho - I'll be typing for a second
[Fresh] MzTique the higher the rate goes beyond a sustainable level the more volatile it will be. To create a sustainable rate there will need to be a balance of people wanting to hold the currency versus wanting to sell the currency. The higher the rate gets (say closer to Kuwait at $3.67 ish / USD) the more perceived risk the international community will take against a developing economy that is hurting for infrastructure. Also the higher the rate - the richer they will make their people over night by virtue of increased purchasing power for the currency they already hold... this creates a lazy Iraqi population that will require migrant / foreign labor to offset
[Fresh] Also the higher rate the more likely it would crash leaving the CBI on the hook for USD that was calculated initially and then when the value were to drop significantly they would be on the hook for the USD figures and be holding a less powerful dinar.. this is why they work the logical way - starting low and rising...
[Fresh] Also the liquidity of a rate say over "$5 USD/ 1 IQD" would choke the global economy with hyperinflation - the velocity of money moving through the system would create bubbles within days that when ultimately they burst - would leave us in the most devastating financial collapse we've seen
[Fresh] and by money I mean USD - what the world trades on
[Galway Girl] Opinion on whether or not one can take dinar to WF, get receipt and they will hold it until RV. Is this true?
[Fresh] Galway Girl I would never leave any investment with anyone without an expectation of a certain return, risk, fee's, etc - I think that's a rumor for now...
[hopefor4] Galway Girl I wonder that as well. I am going to call the bank tomorrow and report back here
[AZGhostHunter] Galway Girl at this time I will say no. WF has been pretty consistent with their claims of not dealing in the dinar. now post RV, they will be all over you.
[hopefor4] Galway Girl but for now. just another recaps comic rumor
[AZGhostHunter] Galway Girl but they are not the only bank out there
[Galway Girl] Thanks, holding til confirmation. Just caught my eye on forum...sounded wierd.
[RevalGal] This meeting Sunday in Kuwait sounds like it could be very productive. How is it different from the Arab Summit?
[belabun] RevalGal the Arab Summit is a grouping of arab countries, the kuwait items are not related at all.
[MzTique] Any Ideas on how we'll cash in?
[passionflower] I personally am not letting dinar out of my site until they put it into my account, all of it
[MzTique] Banks, airports etc.?
[hopefor4] MzTique I imagine like any other foreign currency that banks deal with. You will go in and deposit. no big deal
[AZGhostHunter] MzTique that is your own personal decision. you can cash in a little to get you by until you find the best deal and rate, or you can go all in and cash in with your bank, dealer, etc.
[82ABN] Az/Fresh How you guys doing? Just got here -- Don"t know if you have addressed this, but has anyone seen the article I believe about 2 days ago out of Iraq that stated if the political crisis was not resolved in the National Meeting Then a no confidence vote toward "M" would be exercised- Saw it myself not sure where it originated?
[AZGhostHunter] 82ABN hey there. I have seen that article in different forms a number of times. I think that the no confidence vote is just a threat to maliki to get it done, because imo if they really believed in that, they would have done it months ago
[82ABN] AZGhostHunter Ty!
[dlummus] What is the RV at now do you know?
[AZGhostHunter] dlummus a stand still
[hopefor4] AZGhostHunter I like to think it will be at .86 or just dropping the three zeroes. That way I dont set my self up for a let down. If it comes in higher then great
[dlummus] So can you explain what that means to us I am a newbie been reading all the chatter not clear on whats happening exactly can you enlighten
[AZGhostHunter] dlummus welcome to the rollercoaster ride allow me to enlighten you a bit
[AZGhostHunter] dlummus there are those who, for unknown and unexplained reasons (I have my opinion but will not go into it here) tell the world that it has, will, or is going to RV in a day.
[Fresh] AZGhostHunter but but but - Shabibi just said "Days" a few days ago!!! I'm kidding - good point man - this is a HUGE global event - no one guru will leak this to the world prior to Shabibi and the CBI making it clear Iraq is back in business internationally! It’s simply not true. Iraq has an unfinished government, and some outstanding issues that simply HAVE to be addressed in order to revalue their currency
[AZGhostHunter] dlummus In other words. we have to have a complete government, HCL passed and Erbil agreement implemented before we can even think about an RV
[RexFelix] im all buckled up
[hopefor4] dlummus welcome
[passionflower] yep will need a seatbelt
[82ABN] Fresh Any word on the ALERT status from the gentleman in London?
[Fresh] 82ABN I'm assuming it hasn't changed or LagunaRob would have called me I'm sure
[Fresh] so I'm assuming still pending rate change
[belabun] dlummus maybe reading our forum would help you understand, or better yet, dlummus - go and listen to a couple of our conference calls. you will become quite enlightened.
[RevalGal] I would have thought they would want to RV before that meeting Sunday.
[82ABN] Fresh Ty Sir!
[Fresh] will follow up Tomorrow - TY for reminding me 82ABN
[dlummus] ok thanks bel
[Galway Girl] why captial gains when exchanging in actual currency? When traveling in other countries no one taxes me on gain, I don't report the loss. Will we be taxed?
[hopefor4] Galway Girl you only have to report gains and losses when traveling it is over 250 dollars I belive. I just read it on irs.gov
[spiritdog] not a CPA - but if we held this investment for less than six months - won't have to pay higher capital gains tax if we cash right away?
[Fresh] spiritdog I didn't stay at a HOliday Inn express last night? No clue on taxes lol!
[belabun] Galway Girl traveling is a totally different animal. when you go to bank they have reporting requirements. Seek competent cpa/attorny advice
[82ABN] AZGhostHunter Not sure they have a checks and balance system in place to distribute payments to citizens if they wanted to ???
[Fresh] 82ABN they will rely on debit cards, etc to distribute / allocate funds to their people
[hopefor4] 82ABN I think that is where those credit cards were going to come into effect
[AZGhostHunter] 82ABN thats what the smart cards are for that they have been issuing
[RexFelix] i enjoyed the breakdown of all the news thank you fresh and AZ and Belabun!!!
[GodsNature] yes, agree fresh on the smart cards...they will load funds in those to the citizens....
[82ABN] Fresh AZGhostHunter hopefor4 TYVM!
[queenbee] there are no "Big Banks" Here in Hawaii, but our smaller banks do sell forgien currency. Will all banks that sell forgien currency have the IQD on the list?
[AZGhostHunter] queenbee I remember talk several months ago of a pacific bank in Hawaii that would be cashing people in, however when the gurus called the RV several times, and they were flooded with calls, they started saying that they wouldnt be dealing with it. best bet is to wait until after it RVs then call around. they will want your business
[Fresh] queenbee not sure of the latest ones - they all stepped back IMO because they were getting flooded with IQD rumors, etc daily... which they can't make money off of right now
[Fresh] AZGhostHunter yup that was when UGA was active on here - they pulled down their site within a day IIRC
[belabun] queenbee If a trading currency and they deal in it, yes.
[queenbee] Thank you!
[RexFelix] cant wait till atlanta when we get to toast for real!!!!
[82ABN] Been a pleasure as usual, Thanks Everyone for the great insight! Got to be up at 4am!
[passionflower] my whole family thinks I am nuts to be in this investment
[AZGhostHunter] 82ABN night bud!
[Fresh] 82ABN well post a transcript for yah for Tomorrow
[82ABN] Fresh Look forward to reading that TY!
[MzTique] Fresh found my notes from 2/27 live call the link you wanted regarding their payments or SCR was from IMF Publications per that caller he quoted the amounts to be paid back for the next 4 years
[Fresh] I will say this about Capital Gains - I know some don't want to hear it - but you REALLY need to start following the build up to the elections!! Obama has made it clear he's coming after the top 1% - so if you see yourself making Millions - he's talking about you... the Republican candidates are very firm on not raising capital gains and if anything easing them to stimulate the economy - case in point: If we pay less taxes initially we will go out and spend, invest and stimulate the economy more than the Government can do with the additional tax revenue
[Fresh] This was picked up in our Live Feeds Section Today in the forums for example:
[Fresh] Wealthy would cash in under Romney tax plan NEW YORK (CNNMoney) -- Mitt Romney's new tax plan would mean lower taxes for most Americans. But some would benefit more than others. According to a new analysis from the Tax Policy Center, wealthy Americans would see their taxes fall precipitously under Mitt Romney's new plan -- which scraps the Alternative Minimum Tax and cuts marginal tax rates by 20%. Assuming the Bush tax cuts are extended, the Romney plan would give the top 1% of earners an average tax cut of $150,000, a 7.8% reduction in their average federal tax rate, according to the Tax Policy Center.
[MzTique] He said to google IMF publications
[dlummus] I have more questions if you don't mind?
[AZGhostHunter] dlummus go for it
[hopefor4] dlummus go ahead
[dlummus] I have been watching this for a while now but not sure what I am watching for can you give me any markers to watch for
[RexFelix] dlummus long lines at the bank cashing in
[hopefor4] dlummus www.cbi.iq rate is right there on front page
[AZGhostHunter] dlummus look for the seating of the ministers in Iraq. look for activation or implementation of HCL and Erbil (not agreement or anything else) and the big tip off will be the lower denominations hitting the streets in Iraq
[passionflower] shabibi had several articles stating to want to go to article 8 from 14, I did not see an update from that status, do you know when the next update might be so me know if he went to change over to the article 8 from the 14
[AZGhostHunter] passionflower I havent seen anything recently on that. so I wouldn't even want to speculate on the next update. sorry, cant answer that
[Fresh] dlummus also watch what the CBI is saying and doing... they matter... not the "economists" or people that weigh in on it... that's more speculative and usually their logic is dated a few years back - meaning they have missed out on key policy updates the CBI has expressed since that time
[Fresh] hopefor4 maybe - but the argument is if you lower taxes you stimulate the economy which then ultimately will produce additional revenue - and taxes
(End Transcript - Very Long Chat Continued)