(Thank you Tjar for emailing this to us)
[kaperoni] for coming to chat tonight
[kaperoni] First I want to talk about some facts that I have been right about. Facts that over the last year though hard work, research, interpretation, and boots on the ground intel has been more correct than any other guru or rumor site. Facts that support our [kaperoni] concept here (no rumor, no hype) and been accurate.
[kaperoni] This is also a good refesher to "where we are."
[kaperoni] Last October, we told you the CBI had started to remove the larger denominations.
[kaperoni] Last January, we clarified and explained what the true meaning of “delete the 3 zeros” was.
[kaperoni] In March, we showed proof (pictures) that the CBI was holding symposiums teaching people about the new smaller notes that will be introduced.
[kaperoni] In April, we proved the WTO accession would not happen in 2011 by actual words from the US Chamber of Commerce. Therefore, the WTO cannot be used to expedite the RV.
[kaperoni] May and June we continued to explain the preparations that the CBI was doing for this RV. Including that there will be no LOP.
[kaperoni] In August, we explain the significance of the formal completion of the GOI, Erbil agreement and relationship between Maliki, Allawi and the tribal issues that remain a problem. I believe that issue continues to delay the RV.
[kaperoni] Now, let’s get into current news….
[kaperoni] We have all seen this article.
[kaperoni] Iraq: towards the abolition of 3 zeros from banknotes – July 27th, 2011
[kaperoni] Here is a quote..
Read More button on right
[kaperoni] “Iraqi Central Bank announced the completion of the preparation of a plan to replace the current banknotes after the abolition of 3 zeros of them, including 30 trillion dinars (26 billion dollars) is the value of expected cash bloc,
[kaperoni] stressing that the timing will be determined by the government and parliament, Iraqi. “
[kaperoni] link http://www.mujaz.me
[kaperoni] Another quote as well..
[kaperoni] “And the International Monetary Fund expressed its support for the Iraqi economy in the event of his number of economic measures including the privatization of banks and raise three zeroes from the local currency and to meet debt and compensation is
[kaperoni] the responsibility of Iraq.”
[kaperoni] That quote is outstanding
[kaperoni] and clears up why they need to RV
[kaperoni] Now, how do we know they're ready?
[kaperoni] There are several actions or events that have taken place in recent days or weeks…
[kaperoni] “The Iraqi Central Bank Governor Sinan Shabibi said at a meeting of independent bodies with Prime Minister Nuri al-Maliki, which took place in the 19 of June 2011, ready to create all the supplies to replace the Iraqi currency.”
[kaperoni] And the meeting of the 3rd Conference of Ambassidors July 17th-24th gave them the marching orders.
[kaperoni] And the Pess Release of the Plan to Delete 3 Zeros a few weeks ago on or around 8/4/2011.
[kaperoni] So I can say with confidence that the CBI is ready to do this. And they have the full support of the IMF.
[kaperoni] Now, we need to figure out the “when?”
[kaperoni] Let’s see if we can pinpoint this…
[kaperoni] Here is an article
[kaperoni] Finance Committee meets Iraqi Central Bank Governor Sunday August 21, 2011
[kaperoni] I will quote the article
[kaperoni] "Met Haider Abadi, head of the Finance Committee on Tuesday, 16/8/2011 Mr. Shabibi central bank governor, and also discussed the project to delete the zeros of the Iraqi dinar and the reasons and legal requirements "
[kaperoni] "and accounting and procedural preparations conducted by the Central Bank of the process of printing, transporting and distributing the new currency as well as Commission's role in providing financial support for this project."
[kaperoni] "For his part, Shabibi that the new currency attributes are difficult to falsify in addition to the fortifications that put the new currency and explained that the project if implemented will strengthen the Iraqi dinar exchange rate"
[kaperoni] "against foreign currencies."
[kaperoni] Here is the link, but it wont work in chat...too long
[kaperoni] http://translate.googleu ··· %25A7%25
[kaperoni] Key here is that the Finance Committee/commissions role is “providing financial support”
[kaperoni] So you see, despite the fact that the CBI is independent,
[kaperoni] they need the parliament's approval for several reasons
[kaperoni] including financial support as mentioned.
[kaperoni] Now, today we see this article…
[kaperoni] Central Bank: the new currency can not be falsified
[kaperoni] Some quotes again
[kaperoni] "The Central Bank of Iraq that the new currency is expected to work out can not be forged. This came during an interview the President of the Finance Committee in the"
[kaperoni] "House of Representatives Haidar Abadi, with the Central Bank Governor Sinan al-Shabibi. "
[kaperoni] So we see more details of that meeting last Sunday.
[kaperoni] And another quote…
[kaperoni] These are very good
[kaperoni] "The statement quoted Shabibi assertion that "
[kaperoni] "«the new currency attributes are difficult to falsify, in addition to the fortifications that put the new currency »"
[kaperoni] ", pointing out that "
[kaperoni] "« the project if implemented will enhance the Iraqi dinar exchange rate against foreign currencies ». "
[kaperoni] Pretty clear there folks
[kaperoni] "The two sides agreed to hold further meetings to finalize discussions on the project. "
[kaperoni] "The Deputy Governor of the Central Bank of the appearance of Mohammed Saleh announced mid-month that the central bank raise the bill to delete the zeros of the Iraqi currency to the government and parliament for consideration and discussion and approval
[kaperoni] in the event was approved. "
[kaperoni] Now some quotes from Saleh..
[kaperoni] "Saleh explained in a press statement that
[kaperoni] "«the bill included all the details of legislative and executive on a subject to delete the zeros and the positive economic effects that would leave in the event of approval» "
[kaperoni] "He pointed out that "
[kaperoni] "«the bill included proposals for a new currency and the groups that carried and details of technical and economic»."
[kaperoni] "and Saleh stressed that "
[kaperoni] "«the law, if approved, will have a positive impact in the Iraqi currency in several aspects of the need during the next phase». "
[kaperoni] So you see here that Parliament has to pass the law for this to go forward. The CBI needs financial support apparently for the printing of new notes. Though we know they had some already that were printed at the same time of the larger notes.
[kaperoni] And, apparently, they have not received approval as of 8/16/2011…
[kaperoni] 2011…and we know parliament will not reconvene until 9/6/2011.
[kaperoni] Therefore, we can confirm, if this is an accurate article, there will be no RV until at least 9/7/2011.
[kaperoni] Those who want to follow the Parliament activities can also see all bills passed here..
[kaperoni] http://www.iraq-lg-law.o ··· ker_laws
[kaperoni] Now one last article…
[kaperoni] This pertains to activating the economic conditions in Iraq…
[kaperoni] Minister of Industry and Minerals to meet IAEA chief U.S. 8/25/2011
[kaperoni] Some quotes from this article are good
[kaperoni] “During the meeting which was attended by solution (News) Research and discussion of the draft administrative reform Iraq (project thread management component of national policies and the interdependence of guillotine systems (USAID), “
[kaperoni] “which works closely with the executive offices of national administration of public policies and regulatory reform, as the program of the U.S. Agency for Development International not”
[kaperoni] “endorse the adoption of public policies or specific reforms, but will provide models, tools and technical support to facilitate the achievements of government in policy-making and repair systems. “
[kaperoni] Here is the point...to facilitate the achievements of government in policy-making and repair systems. “
[kaperoni] This looks good as they are working behind the scenes to line up and expedite the laws and reforms needed to make this project a success.
[kaperoni] To summarize, I feel we need to wait and let parliament vote on several issues before we will see the RV, The Erbil agreement, the currency law, and these other economic reforms. Therefore, IMO, we are still a few weeks at best away.