Millionday News 6/21/15 Part 2 of 2
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BGG :Chalibi heads the Committee - and he is hotter than a little red wagon...BGG: the pic from today showed Alak leaned in and trying to convince Chalibi of something. I doubt any on his committee are buying in...
BGG pretty illuminating...
Pablo :What is the procedure for ending a proxi position?
BGG says to Pablo:I am not sure - nor am I positive they will do it immediately...but according to the ink - they are as tired of it as you and I...
Pablo:Sounds like it.
BGG says to Pablo:this is exactly what I have been pointing out as coming for sometime now - it is getting to a boiling point.
Pablo :Isn't his appointment illegal anyway?
jtank :If they boot Alaq then Shabibi could step in? They need expertise to do this? Shabs is one of a few that could do this right? Look at how old Greenspan was when he retired and he was great right?
BGG says to Pablorobably is - I think they have / or are getting close to the consensus they need to remove him.
BGG:they could - but I kind of doubt that happens immediately.
BGG says to jtank:it is one thing for Dr Shabibi to write a critical OP ED - it is entirely another for him to step back in - especially with the unrest there... and run the show with Maliki lurking in the shadows.
BGG says to jtank:I would suspect he has some proof of Maliki financial crimes. He has to be some very serious threat for Maliki to have reacted to him the way he did.
BGG says to jtank:age is not the full story - it's the blood feud between he and Maliki.
kathi :WHAT I DON'T GET IS HOW CAN THEY SAY THE DINAR IS COLLASPING WHEN ISX TRADED ON THE SECONDARY MARKET TODAY OF $236 MILLION SHARES TODAY FOR .80?
BGG says to kathi: They are generally referring to the "market rate" - not the CBI rate or the official rate...
BGG says to kathi: and are we not certain what the .80 refers to USD not IQD??
BGG says to kathi:market rate is reacting to volatility - not the CBI rate...
kathi :THE MAIN THING ABOUT THIS IS INTERNATIONAL TRADING WHEN IT'S THE SECONDARY MARKET, RIGHT?
BGG says to kathi:further with someone competent (and not intentionally damaging the economy) running things, it gets better immediately. I am sure those in the GOI know this.
tarrog1 :with technology these days could it be possible for shabibi to do the job from outside iraq? bit safer for him
kathi:I KNOW THEY HAVE TO SINCE IT'S ISX BUT WHAT IS IMPORTANT IS THEY ARE TRADING MULTI MILLIONS INTERNATIONALLY:http://www.isx-iq.net/isxportal/port...l?market
BGG says to kathi: Maliki and Alak have been "anti-GOI" for sometime - I doubt they get ANY SUPPORT for any new policies. It's time for a change in leadership. The stench of ill intent is far too strong.
BGG says to tarrog1:Of course - but there are options other than Dr Shabibi which are just as good for us.
donnie :i don't see where ISX is trading internationally without a global exchange rate
BGG says to tarrog1:further - there is no guarantee Dr Shabibi would immediately change value. Could be another option might be better for us in that regard.
beth :What other people would be as good as Shabibi?
BGG says to donnie:Kap and I discussed the differnce between "internationally convertible" and "tradable"... it's on THE BLOG right now...
BGG says to donnie:kathi - same answer as Donnie just then - it's on THE BLOG
kathi :O.K. THANKS!!
BGG says to beth:anyone on the Sunni side of the fence (or Shia moderate) more sympathetic to our scenario...
bethk thanks, do any names come to mind?
BGG says to beth:I am suspicious they haven't got a short list already...
BGG :"prominent sources in the Central Bank reported that " Governor of the Bank on the Keywords suffered a great rebuke by prominent government agencies are believed to be close to al-Abadi, against the background of neglect is clear and mishandling ", blaming him of" responsibility to cover up the mafias governmental organization working within the cadres of the central bank contributed to the financial meltdown that took place, "they said ."
BGG :I'll be putting this on THE BLOG later this evening...
BGG :with comments...
Rvsandy :One of the biggest concerns seems to be the Kurds, what is the deadline on them and are their any others?
BGG says to Rvsandy:I am sure they are far more attuned to the inner conflict going on than we are - and if we know - they know...
BGG says to Rvsandy:they want paid..
BGG says to Rvsandy:if they were to change value - the Kurds would easily be good for a while.
BGG says to Rvsandy:I don't know if a "hard deadline" is the right perspective.
RvsandY: Will they actually finally go, in your opinion this month?
BGG says to Rvsandy: pressure is building...
BGG says to Rvsandy:I highly doubt it - just to much at stake and little international assurances of support.
BGG says to Rvsandy:they need to play their cards right...
Rvsandy :Thank you.
BGG :Governor of the Central Bank proposes to abolish the bank auction to sell the dollar and suspended customs duties
BGG :Suggested Governor of the Central Bank of Iraq and the Agency on the Keywords Cancel your bank auction sale of foreign currencies including the US dollar to save the exchange rate against the Iraqi dinar...
BGG :Alak's press conference yesterday and this stuff he tossed at the Finance and Economic Committtees today - WAS JUST JIBBERISH... and I doubt they are buying it.
BGG :he's a noob and none of his "measures" have made any sense. Almost the exact opposite of what the IMF recommended...
BGG :so stay tuned and we'll see what the next few days bring.
CanTWaitwoRV says:the irony is the auctions everyone was harping about in the CBI for months...now CBI/Alak turns 180 degrees and says the opposite...pretty wild
BGG says to CanTWaitwoRV:Correct.
BGG says to CanTWaitwoRV:but Kap is going to wild with that "liberalization" of the price and openly selling to anyone who will buy...
thank you BGG for filling in for MD.
end of report.
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