These questions & comments were made to Enorrste in reference to his long post earlier - "Sit Back - Relax & Wait" Where We Are With Removal Of Sinan Shabibi LINK
[HandOverFist}: Thanks Steve, for this in-depth analysis. However, I do have a question regarding the CBI. How can Maliki take over the CBI? That's like saying Obama wants to take over the Federal Reserve. As far as I know, it can't be done.........All the Central Banks of the world are owned and operated by the banking cartel.
"I am therefore led to conclude the following: while it is clear to me that Maliki is still trying to take over the CBI for his own nefarious purposes, it is also clear now, based on Najafi’s report, that there is way too much smoke at the CBI for there not to be a fire there"
[Enorrste]: HandOverFist, I did not say that he would take over the CBI. I only said that he would try to do so, and he is trying to do so. You are correct in that the banking cartel won't stand for this. There is a reason that most of the Central Banks are formulated the same. Steve
Read More Link On Right
[Rockinrich]: i cant see the united states let alone the world allowing maliki to get away with this b.s. after all the lives lost to get rid of one dictator i also cant see them ever doing business with the world and also entice any investment into a country thats run by a complete butthead if he were to be allowed to succeed i think someone with the clout will put an end to this b.s.!
[Scalp]: Rockinrich, Depends if this new guy goes in and rv's the currency...if he does im sure everyone will be happy.....then they can deal with monkey boy....2 birds with 1 stone
(staying positive until I see the negative of this move concerning the revaluation of the Iraqi Dinar...so far I dont see any...hope I/we dont)... Thanks for the great summary
[Mike]: Just a thought.....but Najib stated that she can't find 6.6 billion dollars missing from the DFI fund.....Shabibi found four people in the CBI that were corrupt and wanted to dismiss them but Maliki wouldn't allow it. Could those four folks be the cause of the missing 6.6 billion and how in the world could Shabibi be responsible for the acts of people within the CBI that are protected by Maliki?
I still find it hard to believe that Shabibi is a "dumb" crook, a crook maybe, but not a stupid crook. This guy is trained in international finance and he slipped up somewhere and couldn't explain billions of dollars missing? That seems too big of a stretch to me.
I believe that if Shabibi wanted to take funds from the DFI then none of us would know about it, besides, there's more money to be made from the CBI than to take a bite now. Since when do we take the word of the finance committee as the truth?
The CoM and finance committee have been holding back the rv for at least a year now and now I'm to believe that they don't have an agenda regarding Shabibi's tenure as governor of the CBI? Yep, I'll wait and see how this turns out........ :)
[Enorrste]: Mike, The four bankers who were corrupt was a problem that occurred over 3 years ago. Even supposing that they were behind the loss of the $6.6 billion the "buck" still stops with Shabibi who should have handled the situation back then and reported his conclusions to the Parliament.
He did not do that, apparently. Therefore, he was either ignorant of the problem (which he clearly wasn't since he called for their removal) or he was in some way complicit in the problem. Either way, he is guilty. He was the boss; the buck stops with him. If the money is missing it doesn't matter whether he stole it or not. What matters is that he was responsible. Hopefully he will have an opportunity to clear this up.
[Geezer]: Thanks for your analyses. I know it was stated on the call last night that there is no reason for Maliki to not want the currency to appreciate and prosper. But what about this scenario?
I believe that Iran would like to see one of its own in total power. It is not a stretch to believe that Maliki desires to be a dictator but an even bigger concern is the possibility he is sympathetic to Iran and it is not in Iran’s best interests to have a wealthy Iraq.
Iran has a large Kurd population which most likely would flee to a wealthy Iraq in hopes of a better life. In this scenario, much of Iran’s labor force would be gone. As such, Maliki will continue to stall currency reform out of his allegiance to Iran and what is in their best interest. This assumes Maliki would be more motivated to serve Iran than to be a hero in Iraq.
Also, isn’t Maliki already living the “good life” in the green zone and doesn’t need an appreciation of the dinar to live a lavish and extravagant lifestyle? Just contemplating different scenarios as to why Maliki may not be motivated to see currency reform.
[Enorrste]: Geezer, Nice to hear from you Kevin. I got your email this morning but decided to respond here for everyone's benefit.
You present an interesting hypothesis. It is based on a view that Maliki wants what is best for Iran over what is best for Iraq, and that is possible. However, your conclusion about him not allowing the dinar to rise because it would cause Kurds to leave Iran is probably incorrect.
Think about what would happen if the dinar improved in value 1000 times. Maliki could then just send Iran a check, right? Then Iran would be able to keep the Kurds there by offering them more money.
The simple fact is that Maliki could be much more dangerous with a higher valued dinar than with it the way it is. As I have stated before I cannot see what motivates him to stop the appreciation of the dinar. He will be a hero if he allows it to float. There is, in my mind, no reason why he would not allow this. Yet he appears to have fought it for years now. Go figure.
Regarding "living the good life" I would ask this simple question: given the opportunity, would you move to the Green Zone? I think that clears up that question pretty succinctly! LOL
[Sadie]: Thanks Steve for all you work, but I still find it to hard to believe Shabibi is truly involved in Any wrong doing. I understand they are corrupt and greedy, but I don't see that in Shabs. Look at his history, and I believe his country and his honor is much to important to him to ever steal.
Steve said where there is that much smoke there must be fire. But who says all that smoke wasn't planted by Maliki's guys. This poor guy doesn't stand a chance. Steve already said Maliki had him hauled up before Parliment, but he didn't like his answers.
I don't think it would have made any difference what Shab's said, Maliki set him up. It was smart on Maliki's part, Shab's walked right into his web. Just look back a the last year of Maliki's history and everyone he has taken down or removed, (anyone in his way).
I'm just surprized so many would be so quick to judge a man so who has had such an honorable life. I see some of this being quick to judge in our own country and it scares me to death.
[Enorrste]: Sadie, I realize that it seems that I too have thrown Shabibi under the bus. However, I would like to retract that statement, at least somewhat. Like you I believe that Shabibi appears to have acted professionally and honorably during the period in which we have had our attention on him.
In addition it is quite clear that he has had many admirers within his own country. And of course his reputation extends well beyond the borders of Iraq. His resume is impeccable as well.
So we are left with this feeling of wanting to say, What's with this? It simply does not make sense.
However, as I noted in a response just a few moments ago there clearly is a problem at CBI and Shabibi is ultimately responsible for it.
Regarding you speculation that Maliki somehow is responsible for the loss of the $6.6 billion, it is an interesting speculation but would require some "inside guys" in order for it to work. Even assuming that Maliki has moles in the CBI it was Shabibi's job to protect the assets of the CBI.
I'd love to see him come out of this with a clear record, but at this point I don't see that happening. Even two days later his name has dropped from the pages and people have moved on. Furthermore, if the charges against him are criminal I doubt that he will be able to mount a meaningful defense. The deck is clearly stacked against him.
[Rockinrich]: Steve, appreciate what you do for all of us
one question if shabs did call for their removal and was told by maliki to basically look the other way what's a man to do?
[Enorrste]: Rockinrich, you bring up a good point. What puzzles me about this is why Shabibi didn't remove the bankers himself. After all, he is the head of the bank, right? So why would he have even needed Maliki's involvement? There is still too much about all of this that doesn't yet add up. We may never know the whole story.
[Rockinrich]: steve thanks for all of your insight and knowledge true we may never know the whole story hopefully it will have a happy ending for all of us
[Fast Eddie]: Rockingrich & Enorrste, As for the whole story I don't really care about Shabibi is either Guilty or he's NOT guilty, what happened 3 years ago is in the past we need to look to the future now if shabibi is found Not guilty he will be back.
But keep in mind whether he comes back or not we just need to have someone who will do the right thing Float or RV or even RI if they are possible. SO I sit back to wait & see what happens. Yes I still see Maliki as trying to take over the CBI to get the reserves. But we must keep in mind something good could still come out of all this & that is what we all want anyway.
[sherry]: Steve, Do not want to sound stupid, I really do not understand the articles and that is why I come to this site, bc the whole dinar alert team helps us too understand, still a lot of it is over my head. What I would like to ask is with all this kaos going on in Iraq, where do we stand with this investment. Will it be later rather than sooner, want a date and a rate, LOL just kidding
[Enorrste]: Sherry, tough question. If you believe the reports that Maliki does not want monetary reform, then it looks like were in for a long haul. That being said, I never felt Maliki would be allowed to hold this up. But clearly he has at least twice.
If you feel Maliki just is making a power grab and wants to look like a hero without Shabibi, then there is a chance that something will still happen by the end of the year. Like I said on the CC last night, removing Shabibi does not change the current state of economic affairs in Iraq. Therefore, we may get lucky and Maliki raises the value.
[Bugsey]: Professor..Thanks for the seminar! Iam thinkin like U. This looks bad for mr S. Even if PTBs fend off Maliki attempt to take over the CBI,I doubt the new person will have the smarts to handle an RV. The TURKI guy feels like a lackey to me although it may not be him. My plan now is shifted to one where any kind of RV that is not a float sends me to the exits with what i can get..