[BondLady] i have an announcement all i can think of right now is how do i explain what all i've been told i've been taking calls trying to get the information for you all - different time zones you know
[BondLady] i've talked directly to people in iraq also and i've also talked to some man i can't even repeat his name couldn't understand it to start with- i've also talked to two brokers and a bank in Iraq - also a bank in dubai - i don't jack with tellers so no it was higher up
[BondLady] i hate to even say any of this stuff i'm about to because it makes me feel like some of those gurus out there that spout crap out all the time i talked to bankers bla bla bla but i'm not going to lie so if i tell you this stuff i won't say names even if i could pronounce them - also i've talked to ali (dinar trade)
[BondLady] i'm pretty shocked to say the least and we have to always remind ourselves also that everyone is innocent until proven guilty and if whats said is true no matter who they are then they must and should have their day in court
Read More Link On Right
[BondLady] it appears there may be some truth to shabibi being involved i'm shocked as you all will be by the time i'm through but theres a pretty big possibility of it
[BondLady] there was an auction that went through the cbi that registered something like 4,000,000 or something to that affect but there was only like 4,000 that could be accounted for might even been more than 4 million
[BondLady] this was what a jordanian banker tried to explain to me, but it was very difficult to understand, language barrier, so the amounts of any of this weren't correct, but...........the song remained the same..
if this is indeed so then there was corruption going on unless you can explain why in the wall street journal they named like 27 billion on imports paid out but only 4 billon recorded....the banker was trying to tell me but i couldn't get the numbers right
[BondLady] this is one incident out of several about money that was supossedly paid for imports through the cbi imports never received money never found - the bottom line but not the end of this chat is shabibi is the central bank govoner the buck stops there
[BondLady] after talking to many people today they believe that shabibi was set to rv the currency he had as much said that and from the articles we've seen we saw that coming but to release the coins would have had to have a rate and not 1166 its being said that for 3 yrs
[BondLady] shabibi has purposly kept the dinar market rate lower than it should have been making literally millons and millons on what we might call a spread but different
[BondLady] for example only an example say 3 yrs ago the market price for 1 million dinar approx $800 something when in reality its was under $700 understand? that many people think he purposly kept it under valued and took the differance
[BondLady] many politicians in Iraq did not want a rd or a lop
[BondLady] if this would have happened then he supossedly would have been able to export the currency a lot more for less and sell high
[BondLady] i've told you all many times this one thing the corruption in iraq is horrid and sadly enough we had that going for us in this investment
[BondLady] the corrupt would never want a lop they would want an rv hence helping us and them too no doubt
[BondLady] it's being said shabibi did want to rd basically lop and they sat out to prove he was corrupt but because the cbi is independent no one could see whats going on behind the cbi walls
[BondLady] it now appears shabibi has indeed been replaced
[BondLady] several are telling me that this guy who replaced him is for an rv he is 1 of 100's that want an rv that are involved in this arrest warrant thing the man taking over im going to be showing u several things bear with me
[BondLady] The Iraqi government abruptly announced the appointment of a new central bank chief to replace Sinan al-Shabibi, a respected and politically independent technocrat who has held the position for more than nine years.
Mr. Shabibi, who is currently out of the country, and more than a dozen other officials at the institution are being investigated for alleged improprieties involving capital requirements for local banks and foreign-currency auctions overseen by the central bank, said a government spokesman and a member of the parliamentary committee probing the charges.
[BondLady] Iraq Dinar News: Iraq Names New Central Bank Chief (WALL STREET JOURNAL) 10/16/2012 0 Comments Posted on October 16, 2012
[BondLady] The government spokesman Ali al-Mussawi said the council of ministers on Tuesday named Abdul-Baset Turki, the head of the Supreme Audit Board, as an interim central bank governor after a court ruling ordered the removal of Mr. Shabibi from his post to face the charges.
A spokesman for Iraq’s judiciary couldn’t be reached for comment and several attempts to contact Mr. Shabibi by telephone were unsuccessful.
The manner of Mr. Shabibi’s dismissal was viewed by many as another move by Prime Minister Nouri al-Maliki to consolidate his powers. Mr. Maliki, who already controls the country’s military and security forces, has been consistently accused by his political opponents of laying the foundations for a new dictatorship in Iraq.
He has sparred on several occasions in the past with Mr. Shabibi over the limits and scope of the central bank’s independence. Under the current Iraqi constitution the central bank is one of four “financially and administratively independent institutions” regulated by law.
[BondLady] “This is another sign that things are not going in the right direction and that politics is affecting everything,” said Mahmoud Othman, a senior parliament member from the Kurdish bloc. Bassem Antoine, an Iraqi economist, said the ouster of Mr. Shabibi was motivated by Mr. Maliki’s desire to exercise more control over the bank’s reserves, estimated to reach $63 billion this year.
“This is bad for Iraq’s reputation,” Mr. Antoine said. But Haitham al-Jubouri, a lawmaker from Mr. Maliki’s coalition and member of the committee that has been investigating the central bank’s activities for months, defended the move.
[BondLady] Mr. Jubouri said his committee was troubled by the central bank’s contradictory and inconsistent rulings regarding capital requirements for local financial institutions.
The committee also uncovered alleged fraud and money laundering in the central bank’s auctions to sell foreign currency to Iraqi importers, according to Mr. Jubouri.
He said in the first eight months of 2012 the bank sold nearly $27 billion in hard currency for import purposes, but only $4.5 billion in products actually came into the country during the same period.
The Iraqi dinar, which currently trades at around 1,200 to the dollar, fell as low as 1,280 earlier this year amid allegations that neighboring Iran and Syria, both subject to international sanctions that restrict their access to hard currency, were using local fronts to participate in the Iraqi central bank’s auctions.
[BondLady] In an interview with The Wall Street Journal at the end of May, Mr. Shabibi said he was facing difficulties launching a redenomination of the Iraqi dinar due to government objections.
“There were some reservations by some colleagues and the council of ministers said that we should hold off,” said at the time the soft-spoken Mr. Shabibi, who hails from a prominent Baghdadi Shiite merchant family.
He became central bank chief shortly after the U.S.-led invasion of Iraq in 2003. Previously he worked for 21 years as senior economist with the United Nations Conference on Trade and Development http://online.wsj.com/article/SB10000872396390444354004578060842607619044.html
CONTINUED: PART 2