Millionday roundtable 8/7/13
[millionday] so let me have the floor for just a minute and then we will start with news
[millionday] i want to address the report i brought in and the announcement made concerning the launch and activation of the pulling in of the three zero currency
[millionday] first let me clarify some things and when i am done i will let you know
[millionday] the currency is not going to all of a sudden be counted as if it does not have the three zeros on the denomination you have
[millionday] the citizens will be exchanging theirs in because the prices in country will be reflecting the change by three zeros so the country is going to redenominate -- but the face value that we are holding outside the country will be exchanged for the exchange rate when it gets to a point that you like
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[millionday] there is nothing that keeps you from exchanging the currency at anytime -- of course we are waiting until as investors -- we are satisfied with the gain the change in the rate gives us --
[millionday] now the announcement of the pulling in of the three zero currency means that they are going to use policy to create an atmosphere that will result in the cbi receiving the three zero currency back so they can be destroyed -- this is the thing
[millionday] in country the citizens will give them back due to the redenomination and the in country policy set due to that policy or action -- outside of the country -- we will give them back when the rate is set that makes us want to give them back -- whatever that will be --
[millionday] when the currency was changed years ago -- they referred to the new currency with added zeros as the "three zero currency" -- they can not just change the face value to the international community when the reinstate or revalue --- and they do not have invisible ink
[millionday] so let me now address the announcement --- the announcement alone would not be very exciting -- well not as exciting i should say
[millionday] however --- with the announcement from cbi stating that they were prepared and were waiting for the goi to also be prepared -- the announcement from the goi that they are now prepared becomes much more important and much more exciting ---
[millionday] in other words --- the one report that they are ready to launch is not the entire story --- so in answer to the e-mail i received -- no i have not lost my mind --- smile
[millionday] it is correct that cbi has independence and it is right that one of their jobs is the exchange rate policy ect for the dinar and they do not have to ask the goi -- however
[millionday] in order for the entire plan for iraq and the globe to be successful -- all wheels have to spin together -- just as we have told you about the laws being in place -- this plan has to all work together because it all relies on the other -- for instance
[millionday] the five year plan was presented by the ministry of planning to the world bank as soon as they were released from chapter 7 --- now if cbi had just decided that day to set the rate and apply it --- without the plan for the country in place and done --- it would not work --- and if the laws for banking and the reform was not done -- the previous banking regulations would still be in place and it would not apply ---- the list goes on and on -- so what i am trying to say
[millionday] the printing of the dinar has to be done to redenominate -- cbi does not design or approve the design for the new currency so -- it would not work without all working together -- so let me wrap up my point
[millionday] the reason that the announcement to the citizens that the economists and the goi ect are ready for the launch is so exciting is that cbi was waiting for them to be ready --- they had to be ready all together no matter who has the power -- the plan has to work together ------
[millionday] the announcement of the date and the rate just wont happen in my opinion -- it will just be done --- i remember when shabibi stated this and it is true -- they will not state before imo
[millionday] this means that the news that comes out now is after the announcement to the citizens that they are ready to move forward and they have no fear of money laundering --- cbi has announced that the security situation has no bearing on the activation -- so we have heard from many --
[millionday] it means we are close and the things that i said about us being close was not just based on that one report that they are activating / launching the pulling in of the three zero currency
[millionday] it is based on one other thing as well and then we will move forward with news
[millionday] i believe it was last week maybe the week before but they started on tuesday with a huge economic meeting concerning the activation of the exchange rate and monetary policy in iraq and it was attended by many and i mean many officials from many countries of the world --- this economic meeting had no results published -- but this soon later we have announcements of their readiness for activation -- so very exciting timing imo
[millionday] now i have something to show you and then we will all join in on roundtable
[millionday] Committee on the economy and investment MP / coalition of Kurdish blocs / Jassim Mohammed, improved Iraqi dinar exchange rate against the U.S. dollar in the coming period after taking the necessary measures by the central bank to strengthen it. Said that the Iraqi economy is strong and the dinar covered reserve large currency difficult and this is what will give him strength and makes it immune from the economic shocks the world
[millionday] New measures adopted by the central bank will support the stability of the dinar exchange rate and make its value better against the dollar in the coming period
[Papatom] Millionday ..... if the other gurus would use fact as you do....they would base their predictions on achievable events...things done, not hype and guessing and hoping... it would be easier for people who are waiting to think more like an Iraqi than an investor.... I completely agree with you. This is a currency exchanage...and not a lottery ticket. they will move on it as soon as its right for them....period. well put.... and thanks for the clarity.
[faith1] ISX will be closed from August 8, 2013 to August 11, 2013 due to the national holiday for Eid Al-Fitr. The next session will be held on Monday, August 12, 2013 http://www.isx-iq.net/is ··· guage=en I can’t get my thought past this,, thinking… (“next session Mon. Aug. 12, 2013) would be a great time to go International ???!! With No Fanfair , as Shabibi has said in Past,,, Your thoughts Please… and THANKS !!
[millionday] faith1 i agree that it would be a great time to go international and also with the four days it would allow for time to check everything but we wont know until it happens --
[millionday] brb with more news if i see any -- i normally have a load on wed for roundtable but even the phones are down there so i dont have close to what i normally do
[millionday] Declared Shariah Board of see Crescent proven in the province of Kurdistan, on Wednesday evening, for that tomorrow, Thursday is the first day of Eid al-Fitr, while the Sunni Waqf called on the Iraqi government to "general amnesty" for prisoners "Innocents" Kfarahh the occasion of the feast.
A source in the body of the Ministry of Awqaf in an interview for "Twilight News" that given the evidence of a proven sighting of the crescent announce that tomorrow is the first day of Eid al-Fitr. The Sunni Endowment announced a similar order.
[marketralley] Million. Did u see the 2 page article from the cbi?
[millionday] The head of the Waqf, Sheikh Ahmed Abdul-Ghafoor Samarrai, said in a statement read during a ceremony held on this occasion in Baghdad attended by "Twilight News" that, given the evidence of sighting the new moon of the month of Shawwal tomorrow, Thursday is the first day of Eid al-Fitr.
And most Arab countries announced Thursday is the first day of the Feast, as well as Turkey and other countries. He called Samurai During the ceremony, the Iraqi government, the release of prisoners, "innocent only" Kfarahh the, to the Iraqis during the Eid al-Fitr
[millionday] marketralley yes i have it but i havent translated yet
[millionday] so as we see here the feast is starting tomorrow in some areas and kurds start thursday
[DT N AZ] millionday I must have missed it somewhere but did you say they are now ALL ready for this to move forward or are they still waiting on the go ahead from someone else?
[millionday] i got busy and did not translate it --- i will try to have it done for news time
[LBnFL] I wonder why the Kurds saw the crescent moon AFTER the rest of the country did?
[millionday] DT N AZ they announced to the citizens that they are ready to activate and launch this and have no risk of counterfeiting or money laundering ect
[DT N AZ] millionday ok good, finally
[bluedog2] A member of the Committee, Jasim Mohamed shankali (Deputy of the Kurdistan blocs Coalition) stated the economic and investment of Iraq that Iraqi dinar currency exchange rate adjacent to the US dollar has been fortified by the Central Bank after their feat throughout the near-term period.iraqi dinar Shankali added that the economic standing of the country of Iraq is currently strong, while the Iraqi dinar is protected with a great reserve of solid exchange that supports him and makes him become resistant from the downfall of the global economic, according to Shankali.
[millionday] letsroll they are not activated yet but are being distributed and loaded according to their announcement
[bluedog2] He also said that the Iraqi dinar exchange rate would develop in the future and would achieve a better value against the US dollar in accordance to the new system that the central bank has recently established.
The declination of the dinar currency exchange rate was due to mafias that had forced and manipulated the auction as well as the hard currency of the Central Bank throughout the previous period.
[bluedog2] The Iraqi dinar has been observed experiencing a big plummet on its price compensated for hard currency during the current months because of the domination of the mafia on the auction of hard currency and call over money laundering in addition to currency smuggling in the foreign country http://dinarexchange.com ··· urrency/
[millionday] so they are saying here that the coming period is after the feast -- so that is very close
[millionday] thank you for bringing that bluedog2
[millionday] so we shall see -- remember that this is iraq and we know that things can change around in a minute there -- however ---i am smiling and we seem to be very close according to the many things we have seen and heard come out of the country
[millionday] ok so i am going to bring lots of news tonight at 730 est at news time --- and i will try to have the cbi report translated
[Papatom] millionday I kinda love this line.... The declination of the dinar currency exchange rate was due to mafias that had forced and manipulated the auction.... so the Mafia was at fault!!!
[millionday] Papatom isnt that funny -- i love some of the translations -- goodness
[millionday] so that is roundtable today -- a little short but we will make up for it tonight