DDF] Scooter-EG thank you for that post
[Scooter-EG] DDF -- You are very welcome! I hope it's the real deal this year
[oogie] Scooter-EG that was what you were talking about last night...that link to the law library http://translate.google.com/translate?langpair=auto%7Cen&u=http%3A%2F%2Fwww.iraq-lg-law.org%2F
[DDF] Scooter-EG now can you tell us about it
[Scooter-EG] Typically they've been targeting the end of June for this stuff
Read More Link On Right
[oogie] you musta stayed up all night Scooter-EG
[Scooter-EG] Mikey Mikey Mikey Mikey
[vested] Scooter-EG ...wait...Wednesday?
[tlm724] Scooter-EG hello
[Scooter-EG] oogie Yep That's exactly what I was talking about
[DDF] vested we asked if he would stop in
[JohnnyZ] Scooter-EG so was the update on the banks june 25 to the law library
[oogie] nice find!
[JohnnyZ] june 15
[Scooter-EG] those Council of Ministers Legal Docs
[luckyintx] Scooter-EG this looks sooooooo good!
[Scooter-EG] luckyintx I hear ya -- I hope these banks are now ready to reboot
[luckyintx] Scooter-EG yes would b nice if it was already done!
[Scooter-EG] Yea, but they like June 30 for some reason
[RickeyT] Scooter-EG are we in a more positive position for something to occur around Jult1?
[Scooter-EG] not certain exactly why that is
[JohnnyZ] ok cool
[luckyintx] Scooter-EG I noticed that!!!!!!!!!!!!!
[oogie] Scooter-EG mid year
[Scooter-EG] RickeyT --- I don't think so
[Scooter-EG] I think we are still looking later but this is a major structural benchmark for the Iraqis HUGE IMO It's been on the list of things to complete sinced the 2006 MOU Memo of Understanding they had so many accounts out of control it was terrible
[Scooter-EG] Ernst and Young reported it was the worst case of a bank audit they had ever seen ] but ] that was back in 2007 too much corruption too many open accounts all over the world but here's the thing to remember
[Scooter-EG] Imagine if you take those two government banks that do over 85% of all the countries transactions and you now clean the books up and Re-Value/Devalue their assets they've essentially change the valuation of the whole country and that to me is a starting point but I don't
[Scooter-EG] I see them following their plan and I see many changes in 2013 NP that's it I think it's good news
[Scooter-EG] the part that I liked also great news was the line in discussed the new currency it translated weird -- but it's very intriguing to see the timing and release of this information from the council of ministers
[Scooter-EG] Does everybody know that to get the full size view to click the link before the big image if not it's definitely worth the time.
[luckyintx] Scooter-EG can I also ask ur opinion on another art?
[Scooter-EG] sure lucky ok
[luckyintx] BAGHDAD / Center Brief for the Iraqi Media Network - revealed the parliamentary finance committee that Iraq will see the two currencies traded at the same time over the next year 2013 of the new currency in circulation after deletion of zeros with the survival of the current currency trading throughout the year in question.
A member of the Finance Committee Hassan Salman's (Center Brief for the Iraqi Media Network) that "the central bank operates in more than six months from now on the position of the deletion of zeros from the Iraqi currency and the current that will be applied starting from next year."
He pointed out that "the Finance Committee informed and in constant contact with the central bank governor and his aides who constantly learn about the Finance Committee on the details of this issue and the process of replacing the current currency the new currency will continue over the next year.
" He said, "will end the current currency, the beginning of 2014 and this process will lead to the strengthening of the Iraqi currency fluctuations, especially after the Iraqi dinar exchange rate against the U.S. dollar in recent times."
And that "currency adjustment will benefit the Iraqi economy and will facilitate the handling of cash in the country by reducing the money supply in circulation now, which Tkdrbhawwala 30 trillion dinars." He revealed the CBI earlier that the new Iraqi currency will increase by three zeros, indicating that he made an extensive study concluded that the lifting of the zeroes will strengthen the value of the Iraqi currency. http://translate.google.com/translate?sl=auto&tl=en&js=n&prev=_t&hl=en&ie=UTF-8&layout=2&eotf=1&u=http%3A%2F%2Fwww.imn.iq
[luckyintx] Can u plz sum it up....?
[Scooter-EG] WOW that says it all
[Scooter-EG] It's surprising however
[DogzNova] Scooter-EG it says too much if U ask me
[Scooter-EG] that this article states that the currency will end 2014 ] I read another article that it would be available for another 10 years but it flows with what we've been discussing for the past month they will deploy a HYBRID solution they will introduce the lower notes and methodically suck in the larger notes while at the same time increasing their CPI values of products and goods the real question will be their economy and how well they diversify and begin their primary bond market those will determine the sustainabilty of any rate just my two cents that was a great article lucky
[Mikey] Scooter.. That article fits in with the article of around Nov 2011 that said the currency process would be completed within the biennium.
[Mikey] or the end of 2013
[Scooter-EG] Yea it does it fits real nice with that time frame also or early 2014 biennium means two years if you remember the world bank reform program for Iraq concludes in october of 2013 so I can see them start to introduce the new notes in 1st or 2nd quarter of 2013 and start the process
[Scooter-EG] heck it could be sooner than that if they have the printing presses rockin those notes out DogzNova Thank you -- didn't know that one too big of word for me
[DogzNova] me too.. I had to google it
[Scooter-EG] well i hope that helped and thank you for your kind words