Post From G.E.T. By Tlar
This is good news indeed. It follows closely by date with other good news all starting in early days of January.
The tariffs, the WTO meeting, the new budget at 1.16 per us dollar, the leak by the member of the FC of the CBI's plans to delete the zeros and release the smalls, the change to donor status, the statements implying the economy is about to take off in 2014, and now a press release that BIS is accepting the Iraqi dinar.
I think actions, not words of denial maybe speak more to us about what's going on in January.
Think, if the BIS who has requirements as does any organization in order to be allowed in has decided to take Iraq in as number 61 of central banks, that must mean something very important is about to happen.
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Why does the BIS state starting in January instead of now? Something certainly look s to me like everything is coming to a head in January.
If the plan is truly not to have an international currency in January, doesn't everything above look like they are jumping the gun a little.
The WTO needs a tradable currency with more purchasing power in order to be a member, and has stated this to Iraq.
The tariffs needs a currency with greater purchasing power or it is inflationary. The budget configured at 1.16 is fact as told to us by the guys who figured the budget, the FC. The leak from the numb skull FC member told us that the CBI's plan is to delete the zeros and release the smalls in---January.
Other articles have said the same thing earlier pointing to ---January as the right time
They change to donor status in ---January. They claim economy will start to take off in January 2014. January is the start of a calendar year. January looks to be a very exciting month indeed.
I am making no predictions rather I am pointing out that January will be a very exciting month.
We know the CBI had planned to delete the zeros and release the smalls in January because that's what they told the EC and FC to make sure they were ready and on board.
We know we can't believe anything the CBI says about this project start date because they had previously told us it was postponed until after the elections but we found out the real plan is/was January, four months before the elections.
I believe the WTO, the BIS, WB and the IMF would all have been made aware of this plan in advance and I think that these organizations are reacting to this plan including the GOI with Tariffs starting in Jan 2nd.
I think it would be extremely hard for the CBI to pull back on the plan now and leave all these organizations and law implementations up in the air.
I also believe that if the CBI's plans as told to us by the loose lipped FC are to be believed, that all the denials are a knee jerk reaction to try to stop Iraqi's who read the same articles that you and I do, from trying to quickly change their monetary positions into cash.
Because of this, I don't pay any attention to what the EC, FC, CBI or the Council of Ministers are now saying about the start date post the leak. They have to deny or say it has been postponed because if they don't their banking system and their currency will take a hit.
We saw an early run on the banks within 24 hours of the leak. I consider the denials a necessary lie to confuse Iraqi's into to stop them from trying to convert to a cash position and until January 31st, that's what I will believe.
If January 31st comes and goes without an RV, then it is back to the business of trying to put as many pieces of this puzzle together. So as you read my post above, it is not a prediction.
It is an observation to all the things coming down in January that to me it look less like a coincidence and more like coinciding with the CBI's plans to open the currency in January.
ARTICLE & LINK
One indicator of his return to the focus of attention of the world
BAGHDAD - Mustafa al-Hashemi
The economist said the appearance of Dr. Mohammed Saleh, said that the Bank of International Settlements, accept deposits from Iraq will benefit the country through capital investment projects, financial investments.
Was the Bank for International Settlements (BIS) which is an acronym for the Bank for International Settlements)) may feel the CBI Sunday past, his willingness to accept deposits Iraq for Fiscal Year 2014.
Saleh added in a statement to the (morning) that this measure would provide service to the country's economy through the BIS financial investments ongoing interest rate or interest-free and by currency, whether in euro or the dollar or other currencies . investment reserves
He explained that it is under a formal contract signed with the Iraqi government. Indicating that the BIS is planning to invest an annual cash reserves deposited with him by central banks, pointing out that its membership includes 60 national central banks including the Central Bank of Iraq.
And the benefit is that the BIS Bank global central banks and supervisory represents the global banking system, all banks in terms of commitment to the decisions of the Basel application which determines the efficiency of the banking systems in the world.
He pointed out that in accordance with the Charter of the United Nations, can hold shares in the bank by individuals and non-governmental entities.
BIS and DFI
He stressed that the bank differs from the Fund for the Protection of Iraqi funds DFI, which was established under the UN resolution as the government revenues from oil revenues are placed in this fund after 2003, which belong to the budget, while the cash reserve at the central bank comes to them after the government is turning to currency local (Dinar), explaining that the Iraqi funds that were frozen in the nineties of the last century were in the Bank for International Settlements did not subject to any legal prosecution being protected from prosecution.
The economic expert said BIS contributes to strengthening financial cooperation and financial world as well as he did not accountable to any government, based in Basel, Switzerland,
adding that the implementation of this measure will yield better returns for funds Iraq with keeping them in safe places where the BIS invests in part of the investment portfolio at the central bank, which is part of the cover of the currency (cash reserve) and the risks are few and great benefits.
A positive step
Promised in favor of the move as positive, especially after the lifting of international sanctions and the withdrawal of Iraq from Chapter VII of the Charter of the United Nations, indicating that the country has returned to focus the world's attention again and he became represents investment environment of financial activity strong because of the wealth and the huge potential possessed by that is natural and human resources .
He said economic expert, said the amount of money frozen in the Bank for International Settlements during the former regime amounted to more than half a billion dollars, indicating that it was protected from the claims of global settled the debt owed by Iraq.
He called on Saleh to exploit the BIS call for the development of comprehensive banking in the government and private banks as well as the commitment of the Basel standards and the adoption of corporate governance and banking systems, work to promote the reality of modern banking in the country and to seek credit rating.
The Bank for International Settlements, BIS was established in May 17, 1930 under an intergovernmental agreement by Germany, Belgium, France, Great Britain and Northern Ireland, Italy, Japan, the United States and Switzerland to facilitate reparations imposed on Germany by the Treaty of Versailles after the First World War.
The Charter has been drafted for the bank in the international bankers conference in the German city of Baden-Baden in November and adopted its charter in the Hague Conference II in January 20, 1930.