Mailman17 & Enorrste Opinion UPDATE
Mailman17: WE HAVE SEEN IRAQ TAKE GREAT STRIDES TO NOT ONLY GET THEIR GOVT IN CHECK BUT THEIR ECONOMY READY FOR GLOBAL RECOGNITION.
SHABS HAS STATED MORE THAN ONCE IN THE PAST THAT THE CBI'S GOAL WHEN ENTERING A MARKET ECONOMY WAS TO BE ON PAR...ON PAR WITH THE DOLLAR.
IRAQS ECONOMY HAS BEEN LINKED TO THE DOLLARS VALUE SINCE 2003. THE U.S. DOLLAR WAS USED MORE IN TRANSACTIONS THEN THEIR OWN DINAR...DAILY.
THEY HAVE ENOUGH RESERVES BACKED BY FRACTIONAL BANKING (15-1) (NOT 10-1 AS SOMEONE ELSE STATED) TO ATTAIN A 1-1.
WITH A 4MBD OUTPUT, MOST LIKELY TO FAR SURPASS THAT IN THE NEXT FEW YEARS NOT TO MENTION THE OTHER RESOURCES SUCH AS NATURAL GAS AND PHOSPHORUS.
YES, PHOSPHORUS...THEY HAVE ENOUGH TO BRING THE WORLDS RESERVE BACK TO 100% AS IT IS USED IN A LOT OF THINGS LIKE STEEL AND MEDICINE...ETC.
IRAQ IS A GOLDMINE. GOLDMINES START STRONG AND BUILD ... IMO ...
DEDOLLARIZATION IS THE KEY ... AND THE IRAQIS MUST HAVE FAITH IN THEIR OWN CURRENCY FROM DAY ONE ...
AND SEEING AS THEIR ECONOMY IS BASED ON THE VALUE OF THINGS PURCHASED AGAINST THE VALUE OF THE DOLLAR ... I TRULY SEE THEM COMING OUT LIKE SHABS SAID ...
ON PAR OR A LITTLE BETTER ... STAY FIXED ... THEN OPEN THE MARKET DOWN THE ROAD WHEN STABLE...THE PRINT TELLS US WE ARE CLOSE, REAL CLOSE ... AND IRAQ IS A LOT BETTER THAN MOST THINK IN REGARDS TO SECURITY ... JMO.
Mailman17: EVERYONE FORGETS IRAQS PAST...THINGS THAT WERE BROUGHT UP IN THE PAST BUT HAVE MAJOR IMPLICATIONS TO IRAQS FUTURE.
PHOSPHORUS MINES, THE 3-D GEOLOGICAL SURVEY ON IRAQS OIL NOT EVEN TAPPED (WHICH BY THE WAY IS DOUBLE WHAT THEY HAVE IN RESERVES RIGHT NOW) THEIR NATURAL GAS FUTURE.
I BRING THIS UP BECAUSE IT IS FORGOTTEN...BUT PLAYS INTO IRAQS FUTURE AS THE LEADING ARAB NATION IN THE FUTURE.
THEY ARE LOADED...AND THEY WILL BURST OUT WITH A FLURY.
THEIR REVENUE OUTSIDE OF OIL ONLY BACKS THEIR CURRENCY EVEN MORE.
BELIEVE ME THAT THIS WAS AND WAS ALWAYS CALCULATED. THEIR MAIN OBSTACLE WAS GOVT...ESPECIALLY MALIKI...HES GONE. LET THE FIREWORKS BEGIN...JMO
Mailman17: ANYONE WHO THINKS IRAQ WILL ANNOUNCE THEIR CURRENCY TO THE WORLD IN AN OPEN MARKET AND LEAVE IT AT 1166 HAS A NUT LOOSE.
THAT WOULD BE A SLAP IN THE FACE TO THE CBI, IMO. WHEN THEY COME OUT...THEY WILL COME OUT STRONG. OVER A 1-1 GUARANTEES DE-DOLLARIZATION WITHOUT STICKER SHOCKING THE LOCALS.
A FLOAT DOES NOT DE-DOLLARIZE...PERIOD. IF THEY WANT TO GO TO A FIXED AND MANAGED RATE TILL THINGS SETTLE...THEN LET THE DINAR BE MARKET DRIVEN...FINE...
THATS SOUNDS MORE LIKE A PLAN THEY CAN MAKE ADJUSTMENTS WITH DAY TO DAY...
EITHER WAY THE PRINT TELLS US THEY ARE READY TO MOVE AND IT LOOKS LIKE BY FEB 1 COULD BE OUR WINDOW. AS ALWAYS, JMO.
[Enorrste] Article quote: "End the central bank to formulate a preliminary draft of the new law and amend the Banking Act, which will work together with the amendment influential investment law in order to boost economic development in the country..."
We must all recall that the "plan" has essentially been in place since 2007. It was only due to Maliki's intransigence that the "plan" was not put into place.
This means that the CBI is "ready" to roll all of this stuff out at a moment's notice. Ironically, the drop in oil prices appears to be the catalyst that is forcing the rollout of the "plan" as soon as possible.
Abadi knows that the only way to save his country economically is to broaden the economic base, and that can only be accomplished by enacting the new banking law (which this article indicates is now in the works), liberalizing the exchange (our investment), and bringing in new money from outside to effect the change and solve the financial crisis in the country.
Enorrste: Article quote: "Revealed the appearance of Mohammed Saleh economic adviser to Prime Minister Haider al-Abadi for near immediate reform policies in the country, and Saleh said that there are reformist policies going to go out soon, adding that those policies will serve the Iraqi people, despite the circumstances through which the country..."
What is especially appealing about this announcement is that they are moving forward "despite the circumstances" having to do, presumably, with the security situation.
..."reformist policies" must refer to economic policy and in particular to the CBI role in changing the exchange rate regime.
Since it is Saleh who is making this announcement this must have to do with the CBI rather than the COM. Saleh is the "go between" between the GOI (Abadi) and the CBI.
Therefore, I feel confident that this article is referring to the change in the exchange rate regime. It is great news indeed. Now all we need to know is the meaning of "soon." LOL