Post by BulldogFord65 » July 25th, 2013, 1:26 am • [Post 116]
Family: Here are the conference call notes from Wednesday night call
Blessings to each of you!
Frank26 IQD Update after Investment Night Wednesday, July 24, 2013
• Two weeks ago, Frank and Eagle1 agreed they will no longer give the intel they receive from their sources which discuss specific dates for the release of the rate; on last night’s conference call Bluestar read an intel report from Eagle1 which gave specifics from his sources –
and on the call last night Frank specifically said that he does not agree that the rate would be released in the timing that the intel stated – he did not agree that the rate would be released last night and said that on the call last night
Read More Link On Right
• THERE IS NO DATE, THERE IS NO RATE, PERIOD
• Frank’s physician has ordered him to reduce stress; he is taking control of the conference calls and has asked forum Admins to control the posts; there will be more discipline to prevent stress and messes that have to be cleaned up; if any disagree, post constructively with articles, but negativity and inappropriate chat on the CC’s and posts on the forum will be deleted, and those who continue will have posting privileges suspended and Admins will have to approve every post
Delta came on the call at this point
• Frank read article from Bandit post 133: Article 4 consultation consider creating the conditions to allow a more flexible exchange rate; this is a great article, great news; Delta agreed and will talk more about it, as well as some things the CBI is doing; the full IMF report came up on the website a couple of days ago
• Frank asked everyone to look at Megawatt’s post 347, it’s a graphic of the investment supplementary budget – looks like a Monopoly board game
• Delta started with the IMF articles, they are beautiful; the IMF held 2 consultations with the CBI and told them they have to work as fast as they can to adjust the market rate to as close to the actual rate as they can; the CBI came up with a plan 3 – 4 months ago and they have done an excellent job of closing the gap to approx. 1300 dinar to the dollar
• Yesterday the CBI did the auction, and for the first time since Turki took his position in the CBI, the rate went to 1208; this is a market price; only about 42 dinar separate the actual rate and the market rate; this is fantastic
• There is a way to find out the banks participating in the auction, but it’s only on the Arabic side, not on the English side; about 80% of the numbers are done electronically, but most important to us is the cash portion – so a letter is sent in advance asking for the amount of money they want to purchase, and it includes a cash option; the CBI uses this to control the physical cash
• The Council of Ministers announced this Thursday and next Thursday as official holidays – but the CBI is still having auctions scheduled for those days, plus Fri and Sat – they are having auctions 6 days per week which is giving them the time to control the rate and close the gap as low as possible
• Iraqia TV said there will be significant drop in the exchange rate to the dollar over the next few days, and banks are even offering to sell US$ without commission – this is excellent news for our investment; this shows the coordination between the state banks, private banks and the CBI – there is an urgency, and there is coordination and team work
• Delta has not seen auctions at the CBI on holidays before, they need to do this to control and bring in the rate
• Delta commented on post by Memphis where Memphis caught a disclaimer in the IMF report that they can delete any sensitive information from their reports, so what we are seeing is not complete – the exchange rate is confidential and not included; can see this report on the IMF website
• Why is the CBI trying to close the gap US$ to IQD? They are trying to end the citizens addiction to the US$ and make them fall in love with the IQD; should see the rate continue to go down, the next few days will be interesting
• Delta reinforced NO ONE KNOWS THE DATE OR RATE!!! Just look for patterns and break in patterns – notice the CBI working on holiday and weekend – there is sense of urgency and something is happening
• Iraq is out of CH7, and they are obligated to follow the rules set forth by the UN; the UN wants money, and they also will profit from raising the rate; it is coming soon
• Regarding Qi cards: Delta has been talking about them for a year; it’s essentially a government/state bank-backed pre-paid card; they are trying to copy USA technology; the Qi card was created in 2008, and could only be used INSIDE Iraq, but 3 – 4 months ago, announced that by end of July the card will be able to be used internationally; Mastercard came in and the MC logo is on the card and will become international status
• Any Iraqi citizen can go to the bank and get a Qi card, even if they do not have a bank account; it contains all of the person’s identity information; the generation 2 card will have many new features added, and can be used internationally when the rate comes out; income deposits can be made directly onto the Qi card
• There cannot be a contract with Mastercard if there is no international tradable currency!!!
• Delta said the next question is can the go international on the Qi card with the 1166 rate? NO; why not? If you go to the IMF website, since 2003 – 2004 it states 1166 is a program rate while Iraq under sanctions; they are out of CH7, but they need to go into CH8 (int’l currency status), and Delta’s opinion is that Turki’s letter with the rate was submitted to the IMF but it was deleted from the published report as confidential information; this is not rumor, it is fact – you can go to the IMF website and read it
Eagle1 came on the call at this point
• Eagle1 question for Delta with regard to the time limit imposed by the IMF, does Delta have any information?
• Delta replied in his opinion the Letter of Intent from the CBI to the IMF accepted CH8 and the rate was deleted in the published report; Delta believes the time from when the IMF said they must raise the rate is 30 days, but it’s not known when the 30 day window began
• Eagle1 asked to confirm that we don’t know when the 30 day period began?
Delta responded that there were 2 IMF consultations with the CBI in March and May, but no, not know when the 30 day window began; what is known is that the Qi cards are stated to be international by the end of July, so in
Delta’s opinion, this would indicate a rate by the end of July, but again, no one knows for sure; but, there is urgency, especially with working on the holidays this week and next week
• Frank asked about the HCL – does Delta believe we need to see the rate before the HCL, or at the same time?
Delta said the HCL is important but does not have anything to do with the monetary policy; if the HCL is not passed for 2 - 3 years, will the currency be held up? No, Iraq could not do business with oil companies without the rate
• Delta’s opinion is that the HCL will probably not be passed this year; the Kurds want each state to be able to enter into contracts with oil companies without going through the central government, they want to be free to contract with any nation or company;
Delta believes in his opinion that HCL does not have anything to do with the monetary reform;
Delta believes that the opposite is true, the rate should come out first, and then the HCL; the HCL is the profit sharing, it is logical the rate comes first, then the payment of the profit sharing
• Delta stated that “1,000% sure” the LD’s are printed and ready to go when the green light is given; right now Iraq has obligations to follow with the IMF
• Delta’s opinion is that the HCL has nothing to do with the monetary reform
• Frank asked Delta if he truly believes that the rate will be visible this month?
Delta replied that in his opinion, if the article is correct about the Qi card being international by end of July, so watch for articles about the Qi cards international status; yes, there could be more delays, no one knows the date/rate; but seeing the urgency in the auctions on holidays this week/next week, something is happening – huge break in pattern! THIS IS NOT A DATE!!
• Frank said that he and Delta are in agreement; they have been following the Qi cards since February, and they are “key” to the rate
• The US embassy in Iraq is helping Iraq to accomplish so many things – to upgrade systems, get prepared – and it’s all about the money!!
Delta said no matter what happens the monetary reform must go through, it’s all about the money
• Frank said the Qi card is so advanced, it will prevent money laundering and fraud; notice what companies and banks are in the Green Zone – they are helping advance Iraq’s technology; watch the Qi cards!
• Delta was supposed to have dinner with a GOI member last week, but put off to next week; Delta did ask some questions to this contact already; one was are LD’s printed? He replied “yes;”
Delta asked are we getting close, He replied “yes;”
Delta asked is Iraq in control (of the date)? He replied “no” – the order has to come from outside Iraq
• The server for the CBI is in Houston, TX; all of the government website/servers/hosting is in the USA; do not see this with other country’s central banks
• Frank asked if Delta recalled China arrival in the NE USA to discuss gold; this week, Vietnam just arrived in the NE USA – this is not a rumor, it’s confirmed; this is amazing, this is huge
• Frank asked what if we don’t see anything as of Aug 1? Don’t worry, they are working on it!
Bluestar came on the call at this point
• Bluestar apologized for sharing the intel last night – and reminded everyone that Frank stated it was not set in stone, he shared due to having 3 sources with same intel
• Bluestar asked with respect to the Qi cards, have they been distributed to the entire populace? Delta said no, they are not forcing everyone to have a Qi card;
Bluestar asked if the article can be posted again on the forum
• Frank reminded us to study the Qi cards
• Frank ended the call with singing “Amazing Grace”